Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 20, 2015 | Jun. 30, 2014 | |
Document Information [Line Items] | |||
Entity Registrant Name | DCB FINANCIAL CORP | ||
Entity Central Index Key | 1025877 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Smaller Reporting Company | ||
Trading Symbol | DCBF | ||
Entity Common Stock, Shares Outstanding | 7,233,795 | ||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $41,255,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ||
Cash and due from financial institutions | $6,247 | $6,110 |
Interest-bearing deposits | 15,027 | 19,247 |
Total cash and cash equivalents | 21,274 | 25,357 |
Securities available-for-sale | 75,909 | 79,948 |
Loans | 385,444 | 356,048 |
Less allowance for loan losses | -4,236 | -6,724 |
Net loans | 381,208 | 349,324 |
Loans held for sale | 0 | 7,806 |
Real estate owned | 1,111 | 1,219 |
Investment in FHLB stock | 3,250 | 3,799 |
Premises and equipment, net | 10,016 | 10,641 |
Premises and equipment held for sale | 0 | 1,405 |
Bank-owned life insurance | 20,027 | 19,297 |
Accrued interest receivable and other assets | 2,587 | 3,623 |
Total assets | 515,382 | 502,419 |
Liabilities: | ||
Non-interest bearing | 111,022 | 109,622 |
Interest bearing | 342,170 | 317,237 |
Total deposits | 453,192 | 426,859 |
Deposits held for sale | 0 | 22,571 |
Borrowings | 11,808 | 4,838 |
Accrued interest payable and other liabilities | 3,171 | 2,887 |
Total liabilities | 468,171 | 457,155 |
Shareholders’ equity: | ||
Preferred stock, no par value, 2,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, 17,500,000 and 7,500,000 shares authorized, 7,541,445 and 7,500,000 shares issued, and 7,233,795 and 7,192,350 shares outstanding for 2014 and 2013, respectively | 16,064 | 15,771 |
Retained earnings | 38,055 | 37,683 |
Treasury stock, at cost, 307,650 shares at December 31, 2014 and 2013 | -7,416 | -7,416 |
Accumulated other comprehensive income (loss) | 654 | -774 |
Deferred stock-based compensation | -146 | 0 |
Total shareholders’ equity | 47,211 | 45,264 |
Total liabilities and shareholders’ equity | $515,382 | $502,419 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets [Parenthetical] (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Preferred Stock, Par or Stated Value Per Share | $0 | $0 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common stock, shares authorized | 17,500,000 | 7,500,000 |
Common stock, shares issued | 7,541,445 | 7,500,000 |
Common Stock, Shares, Outstanding | 7,233,795 | 7,192,350 |
Treasury stock, shares | 307,650 | 307,650 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Interest income: | ||
Loans | $15,276 | $14,928 |
Securities | 2,065 | 2,064 |
Federal funds sold and interest bearing deposits | 39 | 87 |
Total interest income | 17,380 | 17,079 |
Interest expense: | ||
Savings and money market accounts | 559 | 474 |
Time accounts | 434 | 989 |
NOW accounts | 76 | 91 |
Total | 1,069 | 1,554 |
FHLB advances | 143 | 264 |
Total interest expense | 1,212 | 1,818 |
Net interest income | 16,168 | 15,261 |
Provision for loan losses | 150 | 2,417 |
Net interest income after provision for loan losses | 16,018 | 12,844 |
Non-interest income: | ||
Service charges | 1,963 | 2,195 |
Wealth management fees | 1,474 | 1,418 |
Treasury management fees | 220 | 244 |
Income from bank-owned life insurance | 730 | 733 |
Gain on the sale of securities available-for-sale | 101 | 135 |
Losses on loans held for sale | -509 | 0 |
Net (loss) gain on sale of REO | -84 | 31 |
Gain on sale of branch | 438 | 0 |
Other non-interest income | 127 | 211 |
Total non-interest income | 4,460 | 4,967 |
Non-interest expense: | ||
Salaries and employee benefits | 11,141 | 11,287 |
Occupancy and equipment | 3,192 | 3,069 |
Professional services | 1,379 | 1,791 |
Advertising | 347 | 293 |
Office supplies, postage and courier | 328 | 481 |
FDIC insurance premium | 630 | 699 |
State franchise taxes | 266 | 478 |
Other non-interest expense | 2,823 | 2,942 |
Total non-interest expense | 20,106 | 21,040 |
Income (loss) before income tax benefit | 372 | -3,229 |
Income tax benefit | 0 | -298 |
Net income (loss) | $372 | ($2,931) |
Share and Per Share Data | ||
Basic average common shares outstanding (in shares) | 7,193,372 | 7,192,350 |
Diluted average common shares outstanding (in shares) | 7,232,388 | 7,192,350 |
Basic and diluted earnings (loss) per common share (in dollars per share) | $0.05 | ($0.41) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Net income (loss) | $372 | ($2,931) |
Other comprehensive income (loss): | ||
Reclassification of previously recognized noncredit other than temporary impairment on sale of security in 2013, net of taxes of $512 | 0 | 995 |
Net unrealized gains (losses) on securities available-for-sale, net of taxes of $769 and $(755) in 2014 and 2013, respectively | 1,494 | -1,482 |
Reclassification adjustment for gains included in net income (loss), net of taxes of $(35) and $(2) in 2014 and 2013, respectively | -66 | -3 |
Unrealized gains on securities transferred to available-for-sale in 2013, net of taxes of $131 | 0 | 254 |
Amortization of unrealized losses on held-to-maturity securities in 2013, net of taxes of $28. | 0 | 42 |
Total other comprehensive income (loss) | 1,428 | -194 |
Comprehensive income (loss) | $1,800 | ($3,125) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) [Parenthetical] (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Other Than Temporary Impairment Losses Investment Reclassification Adjustment Of Previously Recognized Sale Of Security Tax | $512 | |
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Tax, Portion Attributable to Parent, Held-to-maturity Securities | 769 | -755 |
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Tax, Portion Attributable to Parent, Available-for-sale Securities | -35 | -2 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 131 | |
Other Comprehensive Income Amortization Of Unrealized Gain (Losses) On Held To Maturity Securities Tax | $28 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Preferred Stock [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deferred Compensation, Share-based Payments [Member] |
In Thousands, except Share data, unless otherwise specified | |||||||
Balance at Dec. 31, 2012 | $48,389 | $15,771 | $0 | $40,614 | ($7,416) | ($580) | $0 |
Balance (in shares) at Dec. 31, 2012 | 7,192,350 | ||||||
Comprehensive income (loss) | |||||||
Net income (loss) | -2,931 | 0 | 0 | -2,931 | 0 | 0 | 0 |
Other comprehensive income (loss), net of taxes | -194 | 0 | 0 | 0 | 0 | -194 | 0 |
Total comprehensive income (loss) | -3,125 | 0 | 0 | 0 | 0 | 0 | 0 |
Balance at Dec. 31, 2013 | 45,264 | 15,771 | 0 | 37,683 | -7,416 | -774 | 0 |
Balance (in shares) at Dec. 31, 2013 | 7,192,350 | ||||||
Comprehensive income (loss) | |||||||
Net income (loss) | 372 | 0 | 0 | 372 | 0 | 0 | 0 |
Other comprehensive income (loss), net of taxes | 1,428 | 0 | 0 | 0 | 0 | 1,428 | 0 |
Total comprehensive income (loss) | 1,800 | 0 | 0 | 0 | 0 | 0 | 0 |
Issuance of restricted stock in exchange for cancelled stock options | 147 | 293 | 0 | 0 | 0 | 0 | -146 |
Issuance of restricted stock in exchange for cancelled stock options (in shares) | 41,445 | ||||||
Balance at Dec. 31, 2014 | $47,211 | $16,064 | $0 | $38,055 | ($7,416) | $654 | ($146) |
Balance (in shares) at Dec. 31, 2014 | 7,233,795 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Cash flows from operating activities | ||
Net income (loss) | $372 | ($2,931) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation | 1,070 | 1,068 |
Provision for loan losses | 150 | 2,417 |
Deferred income taxes | 0 | -298 |
Gain on sale of securities | -101 | -135 |
Loss on loans held-for-sale | 509 | 0 |
Loss (gain) on sale of real estate owned | 84 | -31 |
Gain on sale of branch | -438 | 0 |
Stock option plan expense | 190 | 129 |
Premium amortization on securities, net | 1,064 | 1,644 |
Earnings on bank owned life insurance | -730 | -733 |
Net changes in other assets and other liabilities | 543 | 3,260 |
Net cash provided by operating activities | 2,713 | 4,390 |
Cash flows from investing activities | ||
Purchases of securities available-for-sale | -25,136 | -23,564 |
Proceeds from maturities, principal payments and calls of securities available-for-sale | 23,234 | 27,699 |
Proceeds from sales of securities available-for-sale | 7,140 | 2,560 |
Net change in loans | -31,076 | -48,983 |
Proceeds from sales of loans held-for-sale | 845 | 0 |
Proceeds from sale of real estate owned | 768 | 2,546 |
Net cash paid with sale of branch | -12,464 | 0 |
Proceeds from redemption of FHLB stock | 549 | 0 |
Premises and equipment expenditures | -445 | -1,078 |
Net cash used in investing activities | -36,585 | -40,820 |
Cash flows from financing activities | ||
Net change in deposits | 22,819 | 1,140 |
Proceeds from short-term borrowings | 7,000 | 0 |
Proceeds from long-term borrowings | 0 | 4,411 |
Repayment of borrowings | -30 | -7,071 |
Net cash provided by (used in) financing activities | 29,789 | -1,520 |
Net change in cash and cash equivalents | -4,083 | -37,950 |
Cash and cash equivalents at beginning of year | 25,357 | 63,307 |
Cash and cash equivalents at end of year | 21,274 | 25,357 |
Cash paid during the period for: | ||
Cash paid during the period for interest on deposits and borrowings | 1,288 | 1,914 |
Non-cash investing and financing activities: | ||
Transfer of loans to real estate owned | 744 | 59 |
Transfer of loans to held for sale | 913 | 7,806 |
Transfer of loans held for sale to held for investment | 769 | 0 |
Transfer of deposits (from) to held for sale | ($3,210) | $22,571 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies | |||||||
Basis of Presentation: The consolidated financial statements include the accounts of DCB Financial Corp (“DCB”) and its wholly-owned subsidiaries, The Delaware County Bank and Trust Company (the “Bank”), DCB Title Services, LLC, DCB Insurance Services, Inc., DataTasx LLC, and ORECO, Inc. (collectively referred to hereinafter as the “Company”). All intercompany transactions and balances have been eliminated in the consolidated financial statements. | ||||||||
Nature of Operations: The Company provides financial services in Delaware, Franklin, and Union Counties, Ohio, as well as nearby counties, through its 14 banking locations. Its primary deposit products are checking, savings, and term certificate accounts and its primary lending products are residential mortgage, commercial and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by both residential and commercial real estate. The Bank also operates a trust department and engages in other personal wealth management activities, including brokerage services and private banking. | ||||||||
Business Segments: While the Bank’s management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the Bank’s operations are considered by management to be aggregated into one operating segment. | ||||||||
Use of Estimates: To prepare consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, 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 value of financial instruments, determination of other-than-temporary impairment, status of contingencies and deferred tax asset valuation are particularly subject to change. | ||||||||
Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, federal funds sold and deposits with other financial institutions with original maturities of less than 90 days. Net cash flows are reported for customer loan and deposit transactions, federal funds purchased and other short-term borrowings. | ||||||||
Securities: Securities are classified as held-to-maturity and carried at adjusted amortized cost when management has the positive intent and ability to hold them to maturity. Securities classified as available-for-sale might be sold before maturity. Securities classified as available-for-sale are carried at fair value, with temporary unrealized holding gains and losses excluded from earnings and reported as a component of other comprehensive income. Realized gains and losses on sale of securities are recognized using the specific identification method. The Company does not engage in securities trading activities. Interest income includes premium amortization and accretion of discounts on securities. | ||||||||
For securities with unrealized losses, management considers, in determining whether other-than-temporary impairment exists, (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | ||||||||
For securities with other-than-temporary impairment, further analysis is required to determine the appropriate accounting. If management neither intends to sell the impaired security nor expects it will be required to sell the security prior to recovery, only the credit loss component of the other-than-temporary impairment is recognized in earnings while the non-credit loss is recognized in other comprehensive income. The credit loss component recognized in earnings is identified as the principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. | ||||||||
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 non-accrual 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 non-accrual 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 reclassified 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. Reclassifications of loans from held for sale to held for investment are made at fair value. | ||||||||
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 120 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, and were not materially changed in 2014. | ||||||||
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. | ||||||||
Investment in Federal Home Loan Bank Stock: The Company is required as a condition of membership in the Federal Home Loan Bank of Cincinnati (“FHLB”) to maintain an investment in FHLB common stock. The stock is redeemable at par and, therefore, its cost is equivalent to its redemption value. The Company’s ability to redeem FHLB shares is dependent on the redemption practices of the FHLB. The stock is carried at cost and evaluated for impairment. | ||||||||
Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed over the assets’ useful lives, estimated to be five to 39 years for buildings, improvements and leasehold improvements. The Company generally uses three to five years for the useful lives of furniture, fixtures, and equipment, using the straight line method, depending on the nature of the asset. Premises and equipment are reviewed for impairment when events indicate the carrying amount may not be recoverable. Maintenance and repairs are expensed and major improvements are capitalized. | ||||||||
Foreclosed Assets: Assets acquired through foreclosure are initially recorded at the lower of cost or fair value less expected selling costs. Subsequent declines in fair value below the recorded amount are recorded as a direct write-down to expense. The Company generally evaluates fair market values of foreclosed assets on a quarterly basis, and adjusts accordingly. Holding costs after acquisition are expensed as incurred; however, construction costs to improve a property’s value may be capitalized as part of the asset value. | ||||||||
Servicing Assets: Servicing assets represent the allocated value of retained servicing on loans sold. Servicing assets are expensed in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on the fair value of the assets, using groupings of the underlying loans as to interest rates, and then secondarily as to geographic and prepayment characteristics. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment of a grouping is reported as a valuation allowance. Loans serviced for others totaled $2.1 million and $2.9 million at December 31, 2014 and 2013, respectively. The Company had net servicing assets of $3,000 and $5,000 at December 31, 2014 and 2013, respectively. | ||||||||
Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at its cash surrender value. | ||||||||
Income Taxes: The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred tax assets are reduced by a valuation allowance, if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | ||||||||
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. The Company recognizes interest and penalties on income taxes, if applicable, as a component of income tax expense. The Company files consolidated income tax returns with its subsidiaries. | ||||||||
Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | ||||||||
Earnings (Loss) Per Common Share: Basic earnings (loss) per common share is net income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share are computed including the dilutive effect of additional potential common shares issuable under stock options. Diluted earnings (loss) per share are not computed for periods in which an operating loss is sustained. | ||||||||
The computation of earnings (loss) per share is based upon the following weighted-average shares outstanding for the years ended December 31: | ||||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,193,372 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 39,016 | — | ||||||
Weighted-average common shares outstanding (diluted) | 7,232,388 | 7,192,350 | ||||||
At December 31, 2014, 9,979 of anti-dilutive stock options were excluded from the diluted weighted average common share calculations. | ||||||||
At December 31, 2013, options to purchase 156,665 shares of common stock were excluded from the computation of diluted earnings per share because of the loss incurred. | ||||||||
Stock-Based Compensation: Compensation cost is recognized for restricted stock awards issued to employees and directors based on the fair value of these awards at the date of grant. The market price of the Company’s common stock at the date of grant is used to determine the fair value for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | ||||||||
The Company’s outstanding stock options may be settled for cash at the recipient’s discretion; therefore, liability accounting applies to the Company’s 2004 Long-Term Stock Incentive Plan under which such stock options were granted. 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 re-measurement dates. Compensation cost is recognized over the required service period, generally defined as the vesting period. 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 Income. | ||||||||
Comprehensive Income (Loss): Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), net of applicable income tax effects. Other comprehensive income (loss) includes unrealized appreciation (depreciation) on available-for-sale securities and unrealized appreciation (depreciation) on held-to-maturity securities for which a portion of an other-than-temporary impairment has been recognized in income. Accumulated other comprehensive income consists solely of unrecognized gains and losses on investment securities, net of taxes of $336,000 and ($398,000) at December 31, 2014 and 2013, respectively.. | ||||||||
Restrictions on Cash: Other deposits at the Federal Reserve Bank above the clearing balance requirements earn interest at an overnight rate, and are not restricted. In addition, $1.1 million is held in another institution and is under the control of a third party due to a contractual agreement. | ||||||||
Dividend Restrictions: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to DCB or by DCB to shareholders. | ||||||||
Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or market conditions could significantly affect the estimates. | ||||||||
Advertising and Marketing: Advertising and other marketing costs are expensed as incurred. | ||||||||
Reclassification: Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the 2014 presentation. These reclassifications had no effect on net income for any period presented. | ||||||||
New Accounting Pronouncements: In August 2014, the Financial Accounting Standards Board (“FASB”) issued amended accounting guidance for the classification of certain government guaranteed mortgage loans upon foreclosure. This guidance requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This guidance should be applied using a prospective transition method or a modified retrospective transition method. The Company expects that the adoption of this guidance in 2015 will not have a significant effect on the Company’s financial position or results of operations. | ||||||||
In June 2014, the FASB issued amended accounting guidance for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The amended guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance is effective for annual periods and interim periods within those annual periods beginning after December 31, 2015, with earlier adoption permitted. The Company does not expect the amended guidance published by the FASB to have a material impact on its financial position or results of operations. | ||||||||
In January 2014, the FASB issued amended accounting and disclosure guidance for reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure. The amended guidance clarifies that an in-substance repossession or foreclosure occurs and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amended guidance also requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This guidance should be applied using a prospective transition method or a modified retrospective transition method. The Company expects that the adoption of this guidance in 2015 will not have a significant effect on the Company’s financial position or results of operations. | ||||||||
Sale_of_Branch_and_Loans_Held_
Sale of Branch and Loans Held for Sale | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Discontinued Operations and Disposal Groups [Abstract] | |||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 2. Sale of Branch and Loans Held for Sale | ||||
In March 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 | -438 | ||||
Other, net | 10 | ||||
Cash paid to Merchants | $ | 12,464 | |||
The carrying value of the assets sold and the deposits assigned were classified as held for sale at December 31, 2013. | |||||
In addition to the loans reclassified to held-for-sale in connection with the branch sale, the Company also reclassified 54 homogenous loans secured by single family residential investor properties to held-for-sale as of December 31, 2013. At December 31, 2013 the loans had an aggregate contractual principal balance of $4.2 million, and aggregate allowance for loan loss allocations of $2.0 million. In connection with the transfer to held-for-sale, the Company recorded a provision for loan losses of $946,000 in the fourth quarter of 2013. The loans were transferred to held-for-sale, net of the allowance allocations, at their estimated fair value of $2.2 million. | |||||
During the third quarter of 2014, the Company reclassified 30 of the residential investor properties from held for sale to held for investment, because the Company believes the best value for these loans, which generally have been paying as agreed, can be achieved through a hold strategy. The reclassifications of the loans, which had an aggregate contractual principal balance of $1.9 million, were made at the loans net book value of $769,000 on the date of transfer. The $1.1 million difference between the contractual balances and the net book value represents the amount of write-downs taken on these loans at the end of 2013 based on perceived credit weakness of the residential investor properties portfolio in the aggregate. Management believes that the fair value of these loans does not require consideration of a credit loss component, because of the generally satisfactory payment performance of these loans. The weighted average interest rates on these loans was 4.4% on the date of transfer, which management believes reasonably approximates a market interest rate for loans of this type. As a result, management has concluded that the contractual loan amounts approximate their fair value on the transfer date, and the $1.1 million discount on these loans will be accreted to interest income over the life of the loans as payments are made on the loans. | |||||
The Company did not have any assets or deposits classified as held-for-sale at December 31, 2014. | |||||
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. Securities | ||||||||||||||||||||||||||||
The amortized cost and estimated fair values of securities available-for-sale as of December 31, 2014 and 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||
As of December 31, 2014: | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 11,602 | $ | 31 | $ | -88 | $ | 11,545 | |||||||||||||||||||||
Corporate bonds | 4,975 | 33 | -21 | 4,987 | |||||||||||||||||||||||||
States and municipal obligations | 21,303 | 423 | -69 | 21,657 | |||||||||||||||||||||||||
Collateralized mortgage obligation | 19,601 | 85 | -106 | 19,580 | |||||||||||||||||||||||||
Mortgage-backed securities | 17,438 | 702 | — | 18,140 | |||||||||||||||||||||||||
Total | $ | 74,919 | $ | 1,274 | $ | -284 | $ | 75,909 | |||||||||||||||||||||
As of December 31, 2013: | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | 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 | |||||||||||||||||||||||||
Collateralized mortgage obligations | 15,217 | 135 | -308 | 15,045 | |||||||||||||||||||||||||
Mortgage-backed securities | 23,435 | 596 | -23 | 24,007 | |||||||||||||||||||||||||
Total | $ | 81,120 | $ | 1,072 | $ | -2,244 | $ | 79,948 | |||||||||||||||||||||
The tables below indicate the length of time individual securities have been in a continuous unrealized loss position at December 31, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number | Fair | Unrealized | Number | Fair | Unrealized | Number | Fair | Unrealized | ||||||||||||||||||||
securities | of | value | losses | of | value | losses | of | value | losses | ||||||||||||||||||||
securities | securities | securities | |||||||||||||||||||||||||||
U.S. Government and agency obligations | 3 | $ | 2,488 | $ | 9 | 4 | $ | 4,446 | $ | 79 | 7 | $ | 6,934 | $ | 88 | ||||||||||||||
Corporate bonds | 1 | 503 | 1 | 4 | 1,664 | 21 | 5 | 2,167 | 21 | ||||||||||||||||||||
State and municipal obligations | 8 | 2,699 | 18 | 4 | 1,915 | 51 | 12 | 4,614 | 69 | ||||||||||||||||||||
Collateralized debt obligations | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Collateralized Mortgage obligations | 9 | 5,649 | 21 | 4 | 3,649 | 85 | 13 | 9,298 | 106 | ||||||||||||||||||||
Mortgage-backed securities and other | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total temporarily impaired securities | 21 | $ | 11,339 | $ | 49 | 16 | $ | 11,674 | $ | 236 | 37 | $ | 23,013 | $ | 284 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number | Fair | Unrealized | Number | Fair | Unrealized | Number | Fair | Unrealized | ||||||||||||||||||||
securities | of | value | losses | of | value | losses | of | value | losses | ||||||||||||||||||||
securities | securities | securities | |||||||||||||||||||||||||||
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 | ||||||||||||||||||||
Collateralized mortgage obligations | 7 | 5,011 | 208 | 1 | 1,189 | 100 | 8 | 6,200 | 308 | ||||||||||||||||||||
Mortgage-backed securities and other | 5 | 3,434 | 23 | — | — | — | 5 | 3,434 | 23 | ||||||||||||||||||||
Total temporarily impaired securities | 59 | $ | 32,278 | $ | 1,139 | 6 | $ | 3,870 | $ | 1,105 | 65 | $ | 36,148 | $ | 2,244 | ||||||||||||||
Collateralized debt obligations at December 31, 2013 consisted of one security, which was reported in the financial statements at an amount less than its historical cost at December 31, 2013. The decline primarily resulted from changes in market interest rates and failure to maintain consistent credit quality ratings. This security was sold in the first quarter of 2014. | |||||||||||||||||||||||||||||
The unrealized losses on the Company’s investments in U.S. Government and agency obligations, corporate bonds, state and political subdivision obligations, 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 basis 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 other-than-temporarily impaired at December 31, 2014. | |||||||||||||||||||||||||||||
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”). | |||||||||||||||||||||||||||||
No other-than-temporary impairment was recognized in 2014 or 2013. There was no accumulated other-than-temporary impairment as of December 31, 2014. The accumulated other-than-temporary impairment was $1.1 million as of December 31, 2013, which was primarily caused by (a) decrease in performance and regulatory capital resulting from exposure to subprime mortgages and (b) sector downgrade by industry analysts which impaired the value of the Company’s investments in collateralized debt obligations. The Company recognized a loss equal to the credit loss, establishing a new, and lower amortized cost basis. The credit loss was calculated by comparing expected discounted cash flows based on performance indicators of the underlying assets in the security to the carrying value of the investment. In March 2014, the Company sold its remaining investment in collateralized debt obligations for a loss of $140,000. | |||||||||||||||||||||||||||||
There are no securities from the same issuer, besides agency investments, greater than 10% of total equity at December 31, 2014. | |||||||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities, at December 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 | $ | 1,417 | $ | 1,430 | |||||||||||||||||||||||||
Due from one to five years | 12,646 | 12,656 | |||||||||||||||||||||||||||
Due from five to ten years | 23,424 | 23,699 | |||||||||||||||||||||||||||
Due after ten years | 19,994 | 19,984 | |||||||||||||||||||||||||||
Mortgage-backed securities | 17,438 | 18,140 | |||||||||||||||||||||||||||
Total | $ | 74,919 | $ | 75,909 | |||||||||||||||||||||||||
Sales of investment securities during the years ended December 31, 2014 and 2013 were as follows (in thousands): | |||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Proceeds from investments sales | $ | 7,140 | $ | 2,560 | |||||||||||||||||||||||||
Gross gains on investment sales | $ | 242 | $ | 135 | |||||||||||||||||||||||||
Gross losses on investment sales | $ | -141 | $ | — | |||||||||||||||||||||||||
Securities with a carrying amount of $65.5 million and $65.6 million at December 31, 2014 and 2013, respectively, were pledged to secure public deposits and other obligations. | |||||||||||||||||||||||||||||
Loans
Loans | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Receivables [Abstract] | ||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. Loans | |||||||
At December 31, 2014, loans were comprised of the following (in thousands): | ||||||||
2014 | 2013 | |||||||
Commercial and industrial | $ | 106,222 | $ | 122,084 | ||||
Commercial real estate | 111,851 | 104,692 | ||||||
Residential real estate and home equity | 129,650 | 96,245 | ||||||
Consumer and credit card | 37,507 | 32,862 | ||||||
Subtotal | 385,230 | 355,883 | ||||||
Add: Net deferred loan origination fees | 214 | 165 | ||||||
Total loans receivable | $ | 385,444 | $ | 356,048 | ||||
Loans to principal officers, directors, and their related affiliates during 2014 and 2013 in the normal course of business were as follows (in thousands). | ||||||||
2014 | 2013 | |||||||
Balance at beginning of year | $ | 1,440 | $ | 469 | ||||
New loans | 7,070 | 1,058 | ||||||
Repayments | -403 | -87 | ||||||
Balance at end of year | $ | 8,107 | $ | 1,440 | ||||
Credit_Quality
Credit Quality | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||
Credit Quality [Abstract] | |||||||||||||||||||||||
Credit Quality Disclosure [Text Block] | 5. Credit Quality | ||||||||||||||||||||||
Allowance for Loan 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 Vulnerable, 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 payoffs, paydowns, and charge-offs, the remaining loan portfolios possess better overall credit characteristics, and based on the Company’s methodology require lower rates of reserving than recent historical levels. | |||||||||||||||||||||||
The table below presents allowance for loan losses by loan portfolio (in thousands). Commercial real estate includes real estate construction and land development loans. | |||||||||||||||||||||||
For the Year Ended December 31, 2014: | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | and | ||||||||||||||||||||
Credit Card | Industrial | Real Estate | Home Equity | Unallocated | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | — | $ | 6,724 | |||||||||||
Chargeoffs | -200 | -1,410 | -1,086 | -169 | — | -2,865 | |||||||||||||||||
Recoveries | 113 | 42 | 131 | 38 | — | 324 | |||||||||||||||||
Transfer to held for sale | — | — | -97 | — | — | -97 | |||||||||||||||||
Provision | -24 | -731 | 455 | 180 | 270 | 150 | |||||||||||||||||
Ending balance: | $ | 190 | $ | 1,132 | $ | 2,376 | $ | 268 | $ | 270 | $ | 4,236 | |||||||||||
Allowance on loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 256 | $ | 1,042 | $ | — | $ | — | $ | 1,298 | |||||||||||
Collectively evaluated for impairment | 190 | 876 | 1,334 | 268 | 270 | 2,938 | |||||||||||||||||
Ending balance: | $ | 190 | $ | 1,132 | $ | 2,376 | $ | 268 | $ | 270 | $ | 4,236 | |||||||||||
As of December 31, 2014: | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 455 | $ | 2,028 | $ | 9,690 | $ | — | $ | — | $ | 12,173 | |||||||||||
Collectively evaluated for impairment | 37,052 | 109,823 | 96,532 | 129,650 | — | 373,057 | |||||||||||||||||
Ending balance: | $ | 37,507 | $ | 111,851 | $ | 106,222 | $ | 129,650 | $ | — | $ | 385,230 | |||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | and | ||||||||||||||||||||
Credit Card | Industrial | Real Estate | Home Equity | Total | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance: | $ | 365 | $ | 1,620 | $ | 4,692 | $ | 204 | $ | 6,881 | |||||||||||||
Chargeoffs | -286 | -86 | -1,038 | -331 | -1,741 | ||||||||||||||||||
Recoveries | 219 | 823 | 38 | 52 | 1,132 | ||||||||||||||||||
Transfer to held for sale | — | — | -1,965 | — | -1,965 | ||||||||||||||||||
Provision | 3 | 874 | 1,246 | 294 | 2,417 | ||||||||||||||||||
Ending balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | 6,724 | |||||||||||||
Allowance on loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 2,304 | $ | 1,862 | $ | — | $ | 4,166 | |||||||||||||
Collectively evaluated for impairment | 301 | 927 | 1,111 | 219 | 2,558 | ||||||||||||||||||
Ending balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | 6,724 | |||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 7,221 | $ | 15,660 | $ | — | $ | 22,881 | |||||||||||||
Collectively evaluated for impairment | 32,862 | 114,863 | 89,032 | 96,245 | 333,002 | ||||||||||||||||||
Ending balance: | $ | 32,862 | $ | 122,084 | $ | 104,692 | $ | 96,245 | $ | 355,883 | |||||||||||||
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 non-performing 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 table indicates impaired loans with and without an allocated allowance at December 31, 2014 (in thousands). | |||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||
Consumer and credit card | $ | 455 | $ | 455 | $ | — | $ | 474 | $ | 25 | |||||||||||||
Commercial and industrial | 1,288 | 1,288 | — | 1,531 | 45 | ||||||||||||||||||
Commercial real estate | 1,088 | 1,088 | — | 6,714 | 70 | ||||||||||||||||||
With allowance recorded | |||||||||||||||||||||||
Commercial and industrial | 740 | 817 | 256 | 1,772 | 43 | ||||||||||||||||||
Commercial real estate | 8,602 | 8,602 | 1,042 | 6,048 | 595 | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and credit card | 455 | 455 | — | 474 | 25 | ||||||||||||||||||
Commercial and industrial | 2,028 | 2,105 | 256 | 3,303 | 88 | ||||||||||||||||||
Commercial real estate | 9,690 | 9,690 | 1,042 | 12,762 | 665 | ||||||||||||||||||
Total | $ | 12,173 | $ | 12,250 | $ | 1,298 | $ | 16,539 | $ | 778 | |||||||||||||
The following table indicates impaired loans with and without an allocated allowance at December 31, 2013 (in thousands). | |||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||
Commercial and industrial | $ | 1,530 | $ | 1,530 | $ | — | $ | 3,081 | $ | 67 | |||||||||||||
Commercial real estate | 9,892 | 11,788 | — | 10,005 | 615 | ||||||||||||||||||
With allowance recorded | |||||||||||||||||||||||
Commercial and industrial | 5,691 | 5,833 | 2,304 | 2,686 | 196 | ||||||||||||||||||
Commercial real estate | 5,768 | 7,296 | 1,862 | 10,060 | 308 | ||||||||||||||||||
Total | |||||||||||||||||||||||
Commercial and industrial | 7,221 | 7,363 | 2,304 | 5,767 | 263 | ||||||||||||||||||
Commercial real estate | 15,660 | 19,084 | 1,862 | 20,065 | 923 | ||||||||||||||||||
Total | $ | 22,881 | $ | 26,447 | $ | 4,166 | $ | 25,832 | $ | 1,186 | |||||||||||||
Included in certain impaired loan categories are troubled debt restructurings that by definition are classified as impaired. At December 31, 2014 and 2013, troubled debt restructurings which were performing in accordance with their modified terms were $780,000 and $262,000 for commercial loans, $8.5 million and $11.8 million for commercial real estate, and $334,000 and $225,000 for consumer loans, respectively. | |||||||||||||||||||||||
In addition to these amounts, the Bank had troubled debt restructurings that were impaired and no longer performing in accordance with their modified terms. At December 31, 2014 and 2013, troubled debt restructurings which were no longer performing in accordance with their modified terms were $68,000 and $1.1 million for commercial loans, $236,000 million and $2.1 million for commercial real estate, respectively. | |||||||||||||||||||||||
Non-performing loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. Interest income that would have been recognized had non-performing loans performed in accordance with contractual terms totaled $241,000 and $175,000 for years ended December 31, 2014 and 2013, respectively. At December 31, 2014 and 2013, management viewed all loans past due and still accruing interest as well-secured and in the process of collection. | |||||||||||||||||||||||
Loans on non-accrual status as of December 31, 2014 and 2013 are as follows (in thousands): | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Consumer and credit card | $ | 120 | $ | — | |||||||||||||||||||
Commercial and industrial | 632 | 4,702 | |||||||||||||||||||||
Commercial real estate | 298 | 1,398 | |||||||||||||||||||||
Residential real estate and home equity | 334 | 352 | |||||||||||||||||||||
Total | $ | 1,384 | $ | 6,452 | |||||||||||||||||||
Loans held for sale on non-accrual status as of December 31, 2013 were $1.2 million. There were no loans held for sale as of December 31, 2014. | |||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||
Credit risk exposure by risk profile and by class of commercial loans was as follows at year-end 2014 (in thousands). | |||||||||||||||||||||||
Commercial and | Commercial | ||||||||||||||||||||||
Category | Industrial | Real Estate | |||||||||||||||||||||
Pass-1-4 | $ | 106,590 | $ | 90,588 | |||||||||||||||||||
Vulnerable-5 | 823 | 6,146 | |||||||||||||||||||||
Substandard-6 | 4,438 | 9,488 | |||||||||||||||||||||
Doubtful-7 | — | — | |||||||||||||||||||||
Loss-8 | — | — | |||||||||||||||||||||
Total | $ | 111,851 | $ | 106,222 | |||||||||||||||||||
Credit risk exposure by risk profile and by class of commercial loans was as follows at year-end 2013 (in thousands). | |||||||||||||||||||||||
Commercial and | Commercial | ||||||||||||||||||||||
Category | 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 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, the borrower 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. | |||||||||||||||||||||||
For consumer loan classes and residential real estate loans, the Company evaluates credit quality primarily based upon the aging status of the loan, which was previously presented, and by payment activity. | |||||||||||||||||||||||
The following table presents the recorded investment in consumer loans and residential real estate loans based on payment activity at the dates indicated (in thousands). | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 37,387 | $ | 128,836 | |||||||||||||||||||
Non-Performing | 120 | 814 | |||||||||||||||||||||
Total | $ | 37,507 | $ | 129,650 | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 32,862 | $ | 95,333 | |||||||||||||||||||
Non-Performing | — | 912 | |||||||||||||||||||||
Total | $ | 32,862 | $ | 96,245 | |||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||
The following table presents past due loans aged as of December 31, 2014 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | Greater | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | than 90 | Past Due | Investment | |||||||||||||||||||
Past | Days Past | > 90 days | |||||||||||||||||||||
Due | Due | and | |||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Consumer and Credit Card | $ | 66 | $ | 7 | $ | 120 | $ | 193 | $ | 37,314 | $ | 37,507 | $ | — | |||||||||
Commercial and Industrial | 68 | — | — | 68 | 111,783 | 111,851 | — | ||||||||||||||||
Commercial Real Estate | 49 | — | 306 | 355 | 105,867 | 106,222 | — | ||||||||||||||||
Residential Real Estate and Home Equity | 220 | 30 | 642 | 892 | 128,758 | 129,650 | 480 | ||||||||||||||||
Total | $ | 403 | $ | 37 | $ | 1,068 | $ | 1,508 | $ | 383,722 | $ | 385,230 | $ | 480 | |||||||||
The following table presents past due loans aged as of December 31, 2013 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | 90 Days | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | or more | Past Due | Investment | |||||||||||||||||||
Past | Past Due | > 90 days | |||||||||||||||||||||
Due | and | ||||||||||||||||||||||
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 | 197 | 321 | 892 | 95,353 | 96,245 | 560 | ||||||||||||||||
Total | $ | 920 | $ | 289 | $ | 2,004 | $ | 3,213 | $ | 352,670 | $ | 355,883 | $ | 560 | |||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||
Information regarding Troubled Debt Restructuring (“TDR”) loans for the year ended December 31, 2014 and 2013 is as follows (dollars in thousands): | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Number of | Post- | Number of | Post- | ||||||||||||||||||||
contracts | modification | contracts | modification | ||||||||||||||||||||
outstanding | outstanding | ||||||||||||||||||||||
recorded | recorded | ||||||||||||||||||||||
investment | investment | ||||||||||||||||||||||
Consumer and credit card | — | $ | — | — | $ | — | |||||||||||||||||
Commercial and industrial | — | — | 4 | 1,081 | |||||||||||||||||||
Commercial real estate | — | — | 8 | 3,905 | |||||||||||||||||||
Residential real estate and home equity | — | — | — | — | |||||||||||||||||||
Total | — | $ | — | 12 | $ | 4,986 | |||||||||||||||||
There were no loans modified as troubled debt restructurings in 2014. | |||||||||||||||||||||||
The following presents by class loans modified in a TDR during the years ended December 31, 2014 and 2013 that subsequently defaulted (i.e. 60 days or more past due following a modification) during the next twelve month periods (dollars in thousands). | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Number | Post-Modification | Number | Post-Modification | ||||||||||||||||||||
of | Outstanding | of | Outstanding | ||||||||||||||||||||
Contracts | Recorded Investment | Contracts | Recorded Investment | ||||||||||||||||||||
Consumer and Credit Card | — | $ | — | — | $ | — | |||||||||||||||||
Commercial and Industrial | — | — | 3 | 1,075 | |||||||||||||||||||
Commercial Real Estate | — | — | 1 | 484 | |||||||||||||||||||
Residential Real Estate and Home Equity | — | — | — | — | |||||||||||||||||||
Total | — | $ | — | 4 | $ | 1,559 | |||||||||||||||||
The post-modification outstanding recorded investment amounts at each year 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 non-accrual 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-accrual 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, including deteriorating collateral, negative cash flow changes and inability to reduce debt to income ratios. | |||||||||||||||||||||||
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | 6. Premises and Equipment | |||||||
Premises and equipment were as follows at the dates indicated (in thousands): | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land | $ | 1,266 | $ | 1,266 | ||||
Buildings | 13,287 | 13,277 | ||||||
Furniture and equipment | 9,948 | 9,836 | ||||||
Subtotal | 24,501 | 24,379 | ||||||
Accumulated depreciation | -15,115 | -14,329 | ||||||
Total premises and equipment | 9,386 | 10,050 | ||||||
Software, net of accumulated amortization | 630 | 591 | ||||||
Total premises and equipment | $ | 10,016 | $ | 10,641 | ||||
The Company had $1.4 million in premises and equipment held for sale at December 31, 2013 associated with the sale of a branch that was completed March 21, 2014. | ||||||||
Depreciation expense totaled $1.1 million for the years ended December 31, 2014 and 2013. | ||||||||
The Company has entered into operating lease agreements for branch offices and equipment, which expire at various dates through 2023, and provide options for renewals. Rental expense on lease commitments for 2014 and 2013 amounted to $566,000 and $568,000, respectively. | ||||||||
The total future minimum lease commitments at December 31, 2014 under these leases are summarized as follows (in thousands). | ||||||||
2015 | $ | 596 | ||||||
2016 | 587 | |||||||
2017 | 361 | |||||||
2018 | 231 | |||||||
2019 | 199 | |||||||
Thereafter | 250 | |||||||
Total | $ | 2,224 | ||||||
InterestBearing_Deposits
Interest-Bearing Deposits | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ||||||||
Deposit Liabilities Disclosures [Text Block] | 7. Interest-Bearing Deposits | |||||||
Interest-bearing deposits were as follows at the dates indicated (in thousands): | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Interest-bearing demand | $ | 77,534 | $ | 68,382 | ||||
Money market | 147,667 | 123,237 | ||||||
Savings deposits | 42,634 | 41,231 | ||||||
Time deposits | ||||||||
In denominations under $250,000 | 64,758 | 75,608 | ||||||
In denominations of $250,000 or more | 9,577 | 8,779 | ||||||
Total | $ | 342,170 | $ | 317,237 | ||||
Scheduled maturities of time deposits were as follows (in thousands): | ||||||||
2015 | $ | 48,431 | ||||||
2016 | 23,343 | |||||||
2017 | 2,154 | |||||||
2018 | 346 | |||||||
2019 and after | 61 | |||||||
Total | $ | 74,335 | ||||||
At December 31, 2014 and 2013 deposits received from officers, directors and related affiliates were considered to be immaterial to the total amount of total deposits. | ||||||||
Borrowings
Borrowings | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Debt Disclosure [Text Block] | 8. Borrowings | |||||||
As a member of the FHLB of Cincinnati, the Bank has the ability to obtain borrowings based on its investment in FHLB stock and other qualified collateral. FHLB advances are collateralized by a blanket pledge of the Bank’s qualifying 1-4 family loan portfolio and all shares of FHLB stock. At December 31, 2014, total pledged loans was $141.8 million and investment in FHLB Stock was $3.2 million. Those amounts at December 31, 2013 were $124.9 million and $3.8 million respectively. The Bank had a $30.1 million line of credit with no outstanding balance at December 31, 2013 with the Federal Reserve Bank of Cleveland through its Discount Window. The Bank has pledged loans totaling $61.7 million at December 31, 2014. | ||||||||
The following is a summary of borrowings outstanding at year ending December 31, 2014 and 2013 (in thousands): | ||||||||
2014 | 2013 | |||||||
Total Borrowings: | ||||||||
FHLB advances | $ | 11,808 | $ | 4,838 | ||||
In the fourth quarter of 2013, the Company refinanced $4.4 million of fixed rate FHLB advances with a contractual average interest rate of 4.61% and a weighted average remaining term to maturity of 1.4 years. The transaction was accomplished by extending the maturity date and rolling the net present value of the refinanced advances into the funding cost of the new advances which remain outstanding as of December 31, 2014. As a result of the restructure, the Company was required to pay a prepayment penalty of $268,000 to the FHLB. In accordance with ASC 470-50, Debt - Modification and Exchanges, the new advances were considered a minor modification. The prepayment penalty was deferred and will be recognized in interest expense over the life of the new advances. | ||||||||
The contractual amounts of FHLB borrowings mature as follows at December 31, 2014 (dollars in thousands). | ||||||||
Weighted | ||||||||
Maturing | Amount | Average Rate | ||||||
2014 | $ | — | — | % | ||||
2015 | 7,257 | 0.27 | % | |||||
2016 | 1,530 | 0.84 | % | |||||
2017 | 590 | 1.12 | % | |||||
2018 | 2,034 | 1.79 | % | |||||
2019 and after | 397 | 5.44 | % | |||||
$ | 11,808 | 0.82 | % | |||||
Retirement_Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 9. Retirement Plans |
The Company provides a 401(k) savings plan (the “Plan”) for all eligible employees. To be eligible, an individual must complete six months of employment and be 20 or more years of age. Under provisions of the Plan, participants can contribute a certain percentage of their compensation to the Plan up to the maximum allowed by the IRS. The Company also matches a certain percentage of those contributions up to a maximum match of up to 3% of the participant’s compensation. The Company may also provide additional discretionary contributions, but did not do so in 2014 or 2013. Employee voluntary contributions are vested immediately and Company contributions are fully vested after three years. The 2014 and 2013 expenses related to the Plan were $176,000 and $173,000, respectively. | |
The Company maintains a deferred compensation plan for the benefit of certain officers. The plan is designed to provide post-retirement benefits to supplement other sources of retirement income such as social security and 401(k) benefits. The amount of each officer’s benefit will generally depend on their salary, and their length of employment. The Company accrues the cost of this deferred compensation plan during the working careers of the officers. Expense under this plan totaled $38,000 and $0 in 2014 and 2013, respectively. The total accrued liability under this plan was $928,000 and $1.2 million at December 31, 2014 and 2013, respectively. In addition to recognizing expense associated with the plan, the Company funds the vested amounts, $768,000 and $1.0 million, into separate accounts held in custody by the Company’s trust department at December 31, 2014 and 2013, respectively. | |
The Company has purchased insurance contracts on the lives of the participants in the supplemental post-retirement benefit plan and has named the Company as the beneficiary. While no direct connection exists between the deferred compensation plan and the life insurance contracts, it is management’s current intent that the earnings on the insurance contracts be used as a funding source for benefits payable under the plan. | |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 10. Stock-Based Compensation | ||||||||||||||||
The 2014 Restricted Stock Plan (“2014 Plan”) was approved by shareholders in October 2014 authorizing the use of 350,000 shares of authorized but unissued common stock of DCB. The purpose of the 2014 Plan is to promote the growth and profitability of the Company and its affiliated companies; to attract and retain directors, key officers and employees of outstanding competence; to provide eligible directors, certain key officers and employees of the Company and its affiliated companies with an incentive to achieve corporate objectives; and to provide such directors, officers and employees with an equity interest in the Company and its affiliated companies. Awards granted under this plan generally vest ratably over a five year period. | |||||||||||||||||
Restricted stock awards are recorded as deferred compensation, a component of shareholders’ equity, at fair value at the date of the grant and amortized to compensation expense over the specified vesting periods. | |||||||||||||||||
The Company also has a long-term stock incentive compensation plan (the “2004 Plan”), under which certain employees were granted the right to purchase shares of the Company’s common stock at a predetermined price. The 2004 Plan, which is limited to 300,000 shares, expired in 2014 and no further awards will be granted from the 2004 Plan. Options granted under the 2004 Plan vest 20% per year over a five year period, and expire after ten years. There were no options granted in 2014. During the year ended December 31, 2013, options for 13,889 shares were granted at an exercise price of $5.40. At December 31, 2014, 58,450 shares were exercisable under the 2004 Plan. | |||||||||||||||||
The Company recorded $190,000 and $129,000 in compensation expense for its outstanding stock options for the years ended December 31, 2014 and 2013, respectively. | |||||||||||||||||
Stock option activity in the 2004 Plan for the year ended December 31, 2014 was as follows: | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average Exercise | |||||||||||||||||
Price | |||||||||||||||||
Outstanding at beginning of year | 250,518 | $ | 9.91 | ||||||||||||||
Exercised | 17,073 | 3.81 | |||||||||||||||
Forfeited/cancelled | 147,816 | 12.91 | |||||||||||||||
Outstanding at end of year | 85,629 | $ | 6.81 | ||||||||||||||
Options exercisable at year end | 58,450 | $ | 8.11 | ||||||||||||||
There were no options granted in 2014. The weighted-average fair value of stock options granted in 2013 was $2.45. In determining the fair value of the stock options granted in 2013, the Company utilized a Black-Scholes valuation model with a risk-free interest rate of 2.25%, an expected dividend yield of zero, an expected common stock price volatility of 30%, and an expected life of 10 years. | |||||||||||||||||
The following table summarizes the Company’s stock options at December 31, 2014: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of | Options | Weighted | Weighted | Options | Weighted | ||||||||||||
Exercise | Outstanding | Average | Average | Exercisable | Average | ||||||||||||
Prices | Exercise | Remaining | Exercise | ||||||||||||||
Price | Life (Years) | Price | |||||||||||||||
$3.50-$5.40 | 68,999 | $ | 3.95 | 6.9 | 41,820 | $ | 3.78 | ||||||||||
$5.41-$9.00 | 5,196 | $ | 9 | 4.5 | 5,196 | $ | 9 | ||||||||||
$9.01-$16.90 | 4,783 | $ | 16.9 | 3.1 | 4,783 | $ | 16.9 | ||||||||||
$16.01-$30.70 | 6,651 | $ | 26.01 | 1.7 | 6,651 | $ | 26.01 | ||||||||||
The total intrinsic value of options exercised during 2014 and 2013 was $57,000 and $7,000, respectively. At December 31, 2014, the aggregate intrinsic value of outstanding options was $211,000 and the aggregate intrinsic value of exercisable options was $138,000. | |||||||||||||||||
At December 31, 2014, unrecognized compensation expense to be recognized over the remaining vesting period of outstanding options was $95,000. | |||||||||||||||||
On November 25, 2014, the Company commenced a tender offer to exchange (the “Exchange Offer”) 190,104 options outstanding under the Company’s 2004 Plan, for shares of restricted stock to be granted under the Company’s 2014 Plan. The Exchange Offer was subject to the terms and conditions described in Schedule TO (“TO”) which was filed with the SEC on November 25, 2014. | |||||||||||||||||
The stock options subject to the TO were any or all options to purchase the Company’s common stock held by employees, executive officers and non-employee directors, whether vested or unvested, out-of-the-money or in-the-money, which had not expired or terminated prior to the expiration of the Exchange Offer on December 23, 2014. | |||||||||||||||||
The primary reason for making the Exchange Offer was to reduce the compensation expense we are required to recognize for the Company’s options which are accounted for under the liability accounting method, under which changes in the fair value of the options between the vesting date and expiration date are recognized in the Company’s financial statements. The shares of restricted stock offered in exchange for the eligible options are not subject to liability accounting and, accordingly, would allow the Company to better manage its compensation expense. | |||||||||||||||||
Additionally, the exercise prices of some of the outstanding eligible options are significantly higher than the market price of the Company’s common shares. The Company believes that these significantly “out of the money” options may be unlikely to be exercised in the near future and were therefore not providing the incentives intended for our employees, executive officers and non-employee directors. By making the Exchange Offer, the Company believes it was able to re-establish some of the intended incentive value of these options by realigning its compensation programs to more closely reflect the current market and economic conditions. | |||||||||||||||||
The Company established eight exchange ratios for eligible options depending on their exercise price, ranging from 0.029 shares of restricted stock per Option to 0.672 shares of restricted stock per option, as specifically set forth in the TO. | |||||||||||||||||
Thirty holders of eligible options tendered, and the Company accepted for cancellation, eligible options to purchase an aggregate of 113,873 common shares, representing approximately 64% of the total common shares underlying options eligible for exchange in the Exchange Offer. On December 23, 2014, a total of 41,445 shares of restricted stock were issued to holders of eligible options in exchange for the cancellation of such eligible options pursuant to the Offer to Exchange. The restricted stock granted under the Exchange Offer had a grant date fair value of $7.07 per share, and vest ratably over a five-year period. | |||||||||||||||||
The excess of the aggregate grant date fair value of the restricted stock of $293,000 over the fair value of the stock options canceled of $147,000 was recorded as deferred stock-based compensation, a component of shareholders’ equity, and is being amortized over the vesting period of the restricted stock. The Company did not record any compensation expense associated with restricted stock in 2014 and 2013. | |||||||||||||||||
Federal_Income_Taxes
Federal Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Income Tax Disclosure [Text Block] | 11. Federal Income Taxes | |||||||
The Company files income tax returns in the U.S. federal jurisdiction and franchise tax returns in Ohio. Income tax expense (benefit) for the years ended December 31, 2014 and 2013 included the following components (in thousands). | ||||||||
2014 | 2013 | |||||||
Current | $ | — | $ | — | ||||
Deferred | 384 | -1,918 | ||||||
Valuation allowance | -384 | 1,620 | ||||||
Totals | $ | - | $ | -298 | ||||
The difference between the financial statement tax provision and amounts computed by applying the statutory federal income tax rate to income before income taxes was as follows (in thousands): | ||||||||
2014 | 2013 | |||||||
Income tax benefit computed at the statutory federal income tax rate | $ | 127 | $ | -1,098 | ||||
Tax exempt income | -330 | -1,002 | ||||||
Change in valuation allowance | -384 | 1,620 | ||||||
Other | 587 | -324 | ||||||
Totals | $ | - | $ | -298 | ||||
Year-end deferred tax assets and liabilities were comprised of the following (in thousands). | ||||||||
2014 | 2013 | |||||||
Deferred tax assets | ||||||||
Allowance for loan losses | $ | 1,440 | $ | 3,369 | ||||
Depreciation | 103 | 92 | ||||||
Deferred compensation | 316 | 54 | ||||||
Alternative minimum tax carry forward | 145 | 145 | ||||||
Other-than-temporary impairment losses | - | 369 | ||||||
Expenses on foreclosed real estate | 10 | 70 | ||||||
NOL carry forward | 8,910 | 7,460 | ||||||
Other | 284 | 151 | ||||||
Subtotal | 11,208 | 11,710 | ||||||
Deferred tax liabilities | ||||||||
FHLB stock dividends | -389 | -455 | ||||||
Unrealized (gain) loss on available-for-sale securities | -337 | 399 | ||||||
Other | -35 | -87 | ||||||
Subtotal | -761 | -143 | ||||||
Net deferred tax asset | 10,447 | 11,567 | ||||||
Less: valuation allowance | -10,784 | -11,168 | ||||||
Total | $ | -337 | $ | 399 | ||||
At December 31, 2014, the Company had a $26 million net operating loss carry forward that begins to expire in 2030. | ||||||||
Commitments_Contingencies_and_
Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | 12. Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk | |||||||||||||
Some financial instruments such as loan commitments, credit lines, letters of credit and overdraft protection are issued to meet customer financing needs. These financing arrangements to provide credit typically have predetermined expiration dates, but can be withdrawn if certain conditions are not met. The commitments may expire without ever having been drawn on by the customer; therefore the total commitment amount does not necessarily represent future cash requirements. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used for loans, including obtaining various forms of collateral, such as real estate or securities at exercise of the commitment or letter of credit. | ||||||||||||||
The Bank grants retail, commercial and commercial real estate loans in central Ohio. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based upon management’s credit evaluation of each customer. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment and income producing commercial properties. | ||||||||||||||
The contractual amount of financing instruments with off-balance sheet risk was as follows at year-end (in thousands). | ||||||||||||||
2014 | 2013 | |||||||||||||
Fixed | Variable | Fixed | Variable | |||||||||||
rate | rate | rate | rate | |||||||||||
Commitments to extend credit | $ | 2,290 | $ | 8,300 | $ | 6,568 | $ | 2,129 | ||||||
Unused lines of credit and letters of credit | $ | 4,953 | $ | 127,076 | $ | 4,126 | $ | 124,811 | ||||||
Commitments to make loans are generally made for periods of 30 days or less. Maturities for loans subject to these fixed-rate commitments range from up to 1 to 30 years. In the opinion of management, outstanding loan commitments equaled or exceeded prevalent market interest rates at December 31, 2014, such commitments were underwritten in accordance with normal loan underwriting policies, and all disbursements will be funded via normal cash flows from operations and existing excess liquidity. | ||||||||||||||
Legal Proceedings | ||||||||||||||
There is no pending material litigation, other than routine litigation incidental to the business of the Company and Bank. Further, there are no material legal proceedings in which any director, executive officer, principal shareholder or affiliate of the Company is a party or has a material interest, which is adverse to the Company or Bank. Finally, there is no litigation in which the Company or Bank is involved which is expected to have a material adverse impact on the financial position or results of operations of the Company or Bank. | ||||||||||||||
Regulatory_Capital
Regulatory Capital | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Mortgage Banking [Abstract] | ||||||||||||||||||||
Regulatory Capital Requirements for Mortgage Companies Disclosure [Text Block] | 13. Regulatory Capital | |||||||||||||||||||
The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Capital adequacy guidelines and, additionally for banks, prompt corrective-action regulations, involve quantitative measures of assets, liabilities and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet various capital requirements can initiate regulatory action. | ||||||||||||||||||||
The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. The Bank met the well-capitalized requirements, as publicly defined, at December 31, 2014. | ||||||||||||||||||||
Actual and required capital ratios are presented below at year-end (dollars in thousands). | ||||||||||||||||||||
To be well capitalized | ||||||||||||||||||||
under Prompt Corrective | ||||||||||||||||||||
Action Provisions (in 2013) | ||||||||||||||||||||
and pursuant to the Consent | ||||||||||||||||||||
For capital adequacy | Order and Written | |||||||||||||||||||
Actual | purposes | Agreement (2012) | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
December 31, 2014: | ||||||||||||||||||||
Total capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 50,656 | 13.88 | % | $ | 29,197 | 8 | % | N/A | N/A | ||||||||||
Bank | $ | 49,602 | 13.56 | % | $ | 29,264 | 8 | % | $ | 36,580 | 10 | % | ||||||||
Tier-1 (core) capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 46,420 | 12.72 | % | $ | 14,597 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 45,366 | 12.4 | % | $ | 14,634 | 4 | % | $ | 21,951 | 6 | % | ||||||||
Tier-1 (core) capital to average assets | ||||||||||||||||||||
Consolidated | $ | 46,420 | 9.21 | % | $ | 20,161 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 45,366 | 9 | % | $ | 20,163 | 4 | % | $ | 25,203 | 5 | % | ||||||||
December 31, 2013: | ||||||||||||||||||||
Total capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 50,644 | 13.82 | % | $ | 29,321 | 8 | % | N/A | N/A | ||||||||||
Bank | $ | 49,473 | 13.5 | % | $ | 29,321 | 8 | % | $ | 36,651 | 10 | % | ||||||||
Tier-1 (core) capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 46,036 | 12.56 | % | $ | 14,661 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 44,865 | 12.24 | % | $ | 14,661 | 4 | % | $ | 21,992 | 6 | % | ||||||||
Tier-1 (core) capital to average assets | ||||||||||||||||||||
Consolidated | $ | 46,036 | 9 | % | $ | 20,456 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 44,865 | 8.77 | % | $ | 20,456 | 4 | % | $ | 25,570 | 5 | % | ||||||||
Banking regulations limit capital distributions by the Bank. Generally, capital distributions are limited to undistributed net income for the current and prior two years. At December 31, 2014, $372,000 was available for the declaration of dividends by the Bank. | ||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Disclosures [Text Block] | 14. 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 fair value of impaired loans is based on the fair value of the underlying collateral, which is estimated through third party appraisals or internal estimates of collateral values. | |||||||||||||||||
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 be 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 security 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 ASC 820. 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. | |||||||||||||||||
Collateralized Debt Obligations: Estimated fair value for collateralized debt obligations is based on independent third-party evaluations including discounted cash flows and other market assumptions. The methods used to estimate the fair value of the securities do not necessarily represent an exit price and due to the significant judgment involved, these securities are classified Level 3. | |||||||||||||||||
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 Level 3. | |||||||||||||||||
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 December 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 December 31, 2014: | |||||||||||||||||
Carrying | |||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 21,274 | $ | 21,274 | $ | 21,274 | $ | — | $ | — | |||||||
Securities available-for-sale | 75,909 | 75,909 | — | 75,909 | — | ||||||||||||
Loans (net of allowance) | 381,208 | 381,224 | — | — | 381,224 | ||||||||||||
FHLB stock | 3,250 | 3,250 | — | 3,250 | — | ||||||||||||
Accrued interest receivable | 1,234 | 1,234 | — | — | 1,234 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits | $ | 111,022 | $ | 111,022 | $ | — | $ | 111,022 | $ | — | |||||||
Interest-bearing deposits | 342,170 | 342,318 | — | 342,318 | — | ||||||||||||
FHLB advances | 11,808 | 11,808 | — | 11,808 | — | ||||||||||||
Accrued interest payable | 36 | 36 | — | — | 36 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
Carrying | Fair | ||||||||||||||||
Amount | Value | Level 1 | Level 2 | Level 3 | |||||||||||||
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) | $ | 112,711 | $ | 112,711 | $ | — | $ | 112,711 | $ | — | |||||||
Interest-bearing deposits (2) | 317,237 | 318,107 | — | 318,107 | — | ||||||||||||
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 December 31, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||
31-Dec-14 | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
U.S. Government and agency obligations | $ | 11,545 | $ | — | $ | 11,545 | $ | — | |||||||||
State and municipal obligations | 21,657 | — | 21,657 | — | |||||||||||||
Corporate bonds | 4,987 | — | 4,987 | — | |||||||||||||
Collateralized mortgage obligation | 19,580 | — | 19,580 | — | |||||||||||||
Mortgage-backed securities and other | 18,140 | — | 18,140 | — | |||||||||||||
Total | $ | 75,909 | $ | — | $ | 75,909 | $ | — | |||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Identical Assets | Observable Inputs | Inputs | |||||||||||||||
31-Dec-13 | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
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 | |||||||||||||
Collateralized mortgage obligation | 15,045 | — | 15,045 | — | |||||||||||||
Mortgage-backed securities and other | 24,007 | — | 24,007 | — | |||||||||||||
Total | $ | 79,948 | $ | — | $ | 78,972 | $ | 976 | |||||||||
The table below presents a roll-forward of the balance sheet amounts for the year ended December 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 | |||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||
Balance, beginning of year | $ | 976 | |||||||||||||||
Sales | -1,775 | ||||||||||||||||
Total gains (losses): | |||||||||||||||||
Included in earnings | -141 | ||||||||||||||||
Included in other comprehensive income | 940 | ||||||||||||||||
Balance, end of year | $ | — | |||||||||||||||
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 | |||||||||||||||||
Collateralized debt obligations were classified as available for sale at December 31, 2013. The Company recognized other-than-temporary impairment on certain of the securities as of December 31, 2013, 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 December 31, 2014 and 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 December 31, 2014 and 2013 (in thousands). | |||||||||||||||||
December 31, 2014 | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 12,173 | $ | — | $ | — | $ | 12,173 | |||||||||
Real estate owned | 1,111 | — | — | 1,111 | |||||||||||||
December 31, 2013 | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 22,881 | — | — | $ | 22,881 | |||||||||||
Real estate owned | 1,219 | — | — | 1,219 | |||||||||||||
Parent_Company_Financial_Infor
Parent Company Financial Information | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | 15. Parent Company Financial Information | |||||||
Condensed financial information of DCB Financial Corp for the years ended December 31 is as follows: | ||||||||
Condensed Balance Sheets | ||||||||
2014 | 2013 | |||||||
Assets | ||||||||
Cash | $ | 948 | $ | 948 | ||||
Investment in subsidiaries | 46,283 | 44,336 | ||||||
Total assets | $ | 47,231 | $ | 45,284 | ||||
Liabilities | ||||||||
Other liabilities | $ | 20 | $ | 20 | ||||
Shareholders’ Equity | 47,211 | 45,264 | ||||||
Total liabilities and shareholders’ equity | $ | 47,231 | $ | 45,284 | ||||
Condensed Statements of Operations | ||||||||
2014 | 2013 | |||||||
Equity in undistributed income (loss) of subsidiaries | $ | 372 | -2,805 | |||||
Other | — | — | ||||||
Total income (loss) | 372 | -2,805 | ||||||
Operating expenses | — | -126 | ||||||
Federal income tax | — | — | ||||||
Net income (loss) | $ | 372 | $ | -2,931 | ||||
Condensed Statements of Cash Flows | ||||||||
2014 | 2013 | |||||||
Cash flows from operating activities | ||||||||
Net income (loss) | $ | 372 | $ | -2,931 | ||||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||||
Equity in undistributed net income (loss) from subsidiaries | -372 | 2,805 | ||||||
Net change in other assets and liabilities | — | -4,171 | ||||||
Net cash used in operating activities | — | -4,297 | ||||||
Cash flows from investing activities | ||||||||
Investments in affiliates | — | 5 | ||||||
Net cash provided by investing activities | — | 5 | ||||||
Cash flows from financing activities | ||||||||
Investment in Subsidiary | — | -8,092 | ||||||
Net cash used in financing activities | — | -8,092 | ||||||
Net change in cash | — | -12,382 | ||||||
Cash at beginning of year | 948 | 13,332 | ||||||
Cash at end of year | $ | 948 | $ | 948 | ||||
Details_of_Operating_Expenses
Details of Operating Expenses | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Other Income and Expenses [Abstract] | ||||||||
Other Income and Other Expense Disclosure [Text Block] | 16. Details of Operating Expenses | |||||||
The following table details the composition of occupancy and equipment expenses for the years ended December 31, 2014 and 2013. | ||||||||
(In thousands) | 2014 | 2013 | ||||||
Bank occupancy expense | $ | 1,876 | $ | 1,590 | ||||
Equipment lease | 83 | 342 | ||||||
Equipment depreciation | 233 | 303 | ||||||
Software maintenance | 961 | 824 | ||||||
Other | 39 | 10 | ||||||
Total | $ | 3,192 | $ | 3,069 | ||||
The following table details the composition of other operating expenses for the years ended December 31, 2014 and 2013. | ||||||||
(In thousands) | 2014 | 2013 | ||||||
ATM and debit cards | $ | 690 | $ | 772 | ||||
Telephone | 269 | 320 | ||||||
Loan | 344 | 482 | ||||||
Real estate taxes | 325 | 281 | ||||||
OREO expenses | 26 | 22 | ||||||
Other operating | 1,169 | 1,065 | ||||||
Total | $ | 2,823 | $ | 2,942 | ||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||
Quarterly Financial Information [Text Block] | 17. Quarterly Financial Data (Unaudited) | |||||||||||||
The following tables summarize the Company’s quarterly results for the years ended December 31, 2014 and 2013. | ||||||||||||||
(Dollars in thousands, except share and per share data) | 2014 | |||||||||||||
Fourth | Third | Second | First | |||||||||||
Interest income | $ | 4,536 | $ | 4,278 | $ | 4,262 | $ | 4,304 | ||||||
Interest expense | 291 | 306 | 299 | 316 | ||||||||||
Net interest income | 4,245 | 3,972 | 3,963 | 3,988 | ||||||||||
Provision for loan losses | 150 | — | — | — | ||||||||||
Net interest income after provision for loan losses | 4,095 | 3,972 | 3,963 | 3,988 | ||||||||||
Other non-interest income | 1,132 | 1,140 | 996 | 1,192 | ||||||||||
Other non-interest expense | 5,059 | 5,062 | 4,922 | 5,063 | ||||||||||
Income before income tax expense | 168 | 50 | 37 | 117 | ||||||||||
Income taxes | — | — | — | — | ||||||||||
Net income | $ | 168 | $ | 50 | $ | 37 | $ | 117 | ||||||
Stock and related per share data | ||||||||||||||
Basic and diluted earnings per common share | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.02 | ||||||
Basic weighted average common shares outstanding | 7,196,404 | 7,192,350 | 7,192,350 | 7,192,350 | ||||||||||
Diluted weighted average common shares outstanding | 7,232,961 | 7,249,194 | 7,250,702 | 7,244,716 | ||||||||||
2013 | ||||||||||||||
Fourth | Third | Second | First | |||||||||||
Interest income | $ | 4,372 | $ | 4,316 | $ | 4,245 | $ | 4,146 | ||||||
Interest expense | 369 | 425 | 494 | 530 | ||||||||||
Net interest income | 4,003 | 3,891 | 3,751 | 3,616 | ||||||||||
Provision for loan losses | 3,307 | — | -240 | -650 | ||||||||||
Net interest income after provision for loan losses | 696 | 3,891 | 3,991 | 4,266 | ||||||||||
Other non-interest income | 1,116 | 1,192 | 1,351 | 1,308 | ||||||||||
Other non-interest expense | 4,914 | 5,230 | 5,440 | 5,456 | ||||||||||
(Loss) income before income tax benefit | -3,102 | -147 | -98 | 118 | ||||||||||
Income tax benefit | — | -20 | -254 | -24 | ||||||||||
Net (loss) income | $ | -3,102 | $ | -127 | $ | 156 | $ | 142 | ||||||
Stock and related per share data | ||||||||||||||
Basic and diluted (loss) earnings per common share | $ | -0.43 | $ | -0.02 | $ | 0.02 | $ | 0.02 | ||||||
Basic weighted average common shares outstanding | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | ||||||||||
Diluted weighted average common shares outstanding | 7,192,350 | 7,192,350 | 7,227,901 | 7,223,144 | ||||||||||
The sum of the quarterly earnings per share amounts may not equal the total for the year due to the effects of rounding. | ||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation: The consolidated financial statements include the accounts of DCB Financial Corp (“DCB”) and its wholly-owned subsidiaries, The Delaware County Bank and Trust Company (the “Bank”), DCB Title Services, LLC, DCB Insurance Services, Inc., DataTasx LLC, and ORECO, Inc. (collectively referred to hereinafter as the “Company”). All intercompany transactions and balances have been eliminated in the consolidated financial statements. | |||||||
Nature Of Operations [Policy Text Block] | Nature of Operations: The Company provides financial services in Delaware, Franklin, and Union Counties, Ohio, as well as nearby counties, through its 14 banking locations. Its primary deposit products are checking, savings, and term certificate accounts and its primary lending products are residential mortgage, commercial and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by both residential and commercial real estate. The Bank also operates a trust department and engages in other personal wealth management activities, including brokerage services and private banking. | |||||||
Business Segments [Policy Text Block] | Business Segments: While the Bank’s management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the Bank’s operations are considered by management to be aggregated into one operating segment. | |||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: To prepare consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, 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 value of financial instruments, determination of other-than-temporary impairment, status of contingencies and deferred tax asset valuation are particularly subject to change. | |||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, federal funds sold and deposits with other financial institutions with original maturities of less than 90 days. Net cash flows are reported for customer loan and deposit transactions, federal funds purchased and other short-term borrowings. | |||||||
Marketable Securities, Policy [Policy Text Block] | Securities: Securities are classified as held-to-maturity and carried at adjusted amortized cost when management has the positive intent and ability to hold them to maturity. Securities classified as available-for-sale might be sold before maturity. Securities classified as available-for-sale are carried at fair value, with temporary unrealized holding gains and losses excluded from earnings and reported as a component of other comprehensive income. Realized gains and losses on sale of securities are recognized using the specific identification method. The Company does not engage in securities trading activities. Interest income includes premium amortization and accretion of discounts on securities. | |||||||
For securities with unrealized losses, management considers, in determining whether other-than-temporary impairment exists, (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | ||||||||
For securities with other-than-temporary impairment, further analysis is required to determine the appropriate accounting. If management neither intends to sell the impaired security nor expects it will be required to sell the security prior to recovery, only the credit loss component of the other-than-temporary impairment is recognized in earnings while the non-credit loss is recognized in other comprehensive income. The credit loss component recognized in earnings is identified as the principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. | ||||||||
Loans Held For Sale [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 non-accrual 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 non-accrual 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 reclassified 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. Reclassifications of loans from held for sale to held for investment are made at fair value. | ||||||||
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 120 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, and were not materially changed in 2014. | ||||||||
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. | ||||||||
Investment In Federal Home Loan Bank Stock [Policy Text Block] | Investment in Federal Home Loan Bank Stock: The Company is required as a condition of membership in the Federal Home Loan Bank of Cincinnati (“FHLB”) to maintain an investment in FHLB common stock. The stock is redeemable at par and, therefore, its cost is equivalent to its redemption value. The Company’s ability to redeem FHLB shares is dependent on the redemption practices of the FHLB. The stock is carried at cost and evaluated for impairment. | |||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed over the assets’ useful lives, estimated to be five to 39 years for buildings, improvements and leasehold improvements. The Company generally uses three to five years for the useful lives of furniture, fixtures, and equipment, using the straight line method, depending on the nature of the asset. Premises and equipment are reviewed for impairment when events indicate the carrying amount may not be recoverable. Maintenance and repairs are expensed and major improvements are capitalized. | |||||||
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Foreclosed Assets: Assets acquired through foreclosure are initially recorded at the lower of cost or fair value less expected selling costs. Subsequent declines in fair value below the recorded amount are recorded as a direct write-down to expense. The Company generally evaluates fair market values of foreclosed assets on a quarterly basis, and adjusts accordingly. Holding costs after acquisition are expensed as incurred; however, construction costs to improve a property’s value may be capitalized as part of the asset value. | |||||||
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Servicing Assets: Servicing assets represent the allocated value of retained servicing on loans sold. Servicing assets are expensed in proportion to, and over the period of, estimated net servicing revenues. Impairment is evaluated based on the fair value of the assets, using groupings of the underlying loans as to interest rates, and then secondarily as to geographic and prepayment characteristics. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Any impairment of a grouping is reported as a valuation allowance. Loans serviced for others totaled $2.1 million and $2.9 million at December 31, 2014 and 2013, respectively. The Company had net servicing assets of $3,000 and $5,000 at December 31, 2014 and 2013, respectively. | |||||||
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at its cash surrender value. | |||||||
Income Tax, Policy [Policy Text Block] | Income Taxes: The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax basis of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred tax assets are reduced by a valuation allowance, if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||||||
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. The Company recognizes interest and penalties on income taxes, if applicable, as a component of income tax expense. The Company files consolidated income tax returns with its subsidiaries. | ||||||||
Financial Instruments [Policy Text Block] | Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and standby letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |||||||
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) Per Common Share: Basic earnings (loss) per common share is net income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share are computed including the dilutive effect of additional potential common shares issuable under stock options. Diluted earnings (loss) per share are not computed for periods in which an operating loss is sustained. | |||||||
The computation of earnings (loss) per share is based upon the following weighted-average shares outstanding for the years ended December 31: | ||||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,193,372 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 39,016 | — | ||||||
Weighted-average common shares outstanding (diluted) | 7,232,388 | 7,192,350 | ||||||
At December 31, 2014, 9,979 of anti-dilutive stock options were excluded from the diluted weighted average common share calculations. | ||||||||
At December 31, 2013, options to purchase 156,665 shares of common stock were excluded from the computation of diluted earnings per share because of the loss incurred. | ||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation: Compensation cost is recognized for restricted stock awards issued to employees and directors based on the fair value of these awards at the date of grant. The market price of the Company’s common stock at the date of grant is used to determine the fair value for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |||||||
The Company’s outstanding stock options may be settled for cash at the recipient’s discretion; therefore, liability accounting applies to the Company’s 2004 Long-Term Stock Incentive Plan under which such stock options were granted. 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 re-measurement dates. Compensation cost is recognized over the required service period, generally defined as the vesting period. 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 Income. | ||||||||
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss): Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), net of applicable income tax effects. Other comprehensive income (loss) includes unrealized appreciation (depreciation) on available-for-sale securities and unrealized appreciation (depreciation) on held-to-maturity securities for which a portion of an other-than-temporary impairment has been recognized in income. Accumulated other comprehensive income consists solely of unrecognized gains and losses on investment securities, net of taxes of $336,000 and ($398,000) at December 31, 2014 and 2013, respectively.. | |||||||
Restrictions On Cash [Policy Text Block] | Restrictions on Cash: Other deposits at the Federal Reserve Bank above the clearing balance requirements earn interest at an overnight rate, and are not restricted. In addition, $1.1 million is held in another institution and is under the control of a third party due to a contractual agreement. | |||||||
Dividend Restrictions [Policy Text Block] | Dividend Restrictions: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to DCB or by DCB to shareholders. | |||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or market conditions could significantly affect the estimates. | |||||||
Advertising Costs, Policy [Policy Text Block] | Advertising and Marketing: Advertising and other marketing costs are expensed as incurred. | |||||||
Reclassification, Policy [Policy Text Block] | Reclassification: Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the 2014 presentation. These reclassifications had no effect on net income for any period presented. | |||||||
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements: In August 2014, the Financial Accounting Standards Board (“FASB”) issued amended accounting guidance for the classification of certain government guaranteed mortgage loans upon foreclosure. This guidance requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based upon the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This guidance should be applied using a prospective transition method or a modified retrospective transition method. The Company expects that the adoption of this guidance in 2015 will not have a significant effect on the Company’s financial position or results of operations. | |||||||
In June 2014, the FASB issued amended accounting guidance for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The amended guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This guidance is effective for annual periods and interim periods within those annual periods beginning after December 31, 2015, with earlier adoption permitted. The Company does not expect the amended guidance published by the FASB to have a material impact on its financial position or results of operations. | ||||||||
In January 2014, the FASB issued amended accounting and disclosure guidance for reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure. The amended guidance clarifies that an in-substance repossession or foreclosure occurs and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amended guidance also requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This guidance should be applied using a prospective transition method or a modified retrospective transition method. The Company expects that the adoption of this guidance in 2015 will not have a significant effect on the Company’s financial position or results of operations. | ||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Accounting Policies [Abstract] | ||||||||
Weighted-average shares for basic and diluted earnings per share [Table Text Block] | The computation of earnings (loss) per share is based upon the following weighted-average shares outstanding for the years ended December 31: | |||||||
2014 | 2013 | |||||||
Weighted-average common shares outstanding (basic) | 7,193,372 | 7,192,350 | ||||||
Dilutive effect of assumed exercise of stock options | 39,016 | — | ||||||
Weighted-average common shares outstanding (diluted) | 7,232,388 | 7,192,350 | ||||||
Sale_of_Branch_and_Loans_Held_1
Sale of Branch and Loans Held for Sale (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Discontinued Operations and Disposal Groups [Abstract] | |||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [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 | -438 | ||||
Other, net | 10 | ||||
Cash paid to Merchants | $ | 12,464 | |||
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | The amortized cost and estimated fair values of securities available-for-sale as of December 31, 2014 and 2013 were as follows (in thousands): | ||||||||||||||||||||||||||||
As of December 31, 2014: | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||
U.S. Government and agency obligations | $ | 11,602 | $ | 31 | $ | -88 | $ | 11,545 | |||||||||||||||||||||
Corporate bonds | 4,975 | 33 | -21 | 4,987 | |||||||||||||||||||||||||
States and municipal obligations | 21,303 | 423 | -69 | 21,657 | |||||||||||||||||||||||||
Collateralized mortgage obligation | 19,601 | 85 | -106 | 19,580 | |||||||||||||||||||||||||
Mortgage-backed securities | 17,438 | 702 | — | 18,140 | |||||||||||||||||||||||||
Total | $ | 74,919 | $ | 1,274 | $ | -284 | $ | 75,909 | |||||||||||||||||||||
As of December 31, 2013: | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | 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 | |||||||||||||||||||||||||
Collateralized mortgage obligations | 15,217 | 135 | -308 | 15,045 | |||||||||||||||||||||||||
Mortgage-backed securities | 23,435 | 596 | -23 | 24,007 | |||||||||||||||||||||||||
Total | $ | 81,120 | $ | 1,072 | $ | -2,244 | $ | 79,948 | |||||||||||||||||||||
Schedule of Temporary Impairment Losses, Investments [Table Text Block] | The tables below indicate the length of time individual securities have been in a continuous unrealized loss position at December 31, 2014 and 2013 (in thousands): | ||||||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number | Fair | Unrealized | Number | Fair | Unrealized | Number | Fair | Unrealized | ||||||||||||||||||||
securities | of | value | losses | of | value | losses | of | value | losses | ||||||||||||||||||||
securities | securities | securities | |||||||||||||||||||||||||||
U.S. Government and agency obligations | 3 | $ | 2,488 | $ | 9 | 4 | $ | 4,446 | $ | 79 | 7 | $ | 6,934 | $ | 88 | ||||||||||||||
Corporate bonds | 1 | 503 | 1 | 4 | 1,664 | 21 | 5 | 2,167 | 21 | ||||||||||||||||||||
State and municipal obligations | 8 | 2,699 | 18 | 4 | 1,915 | 51 | 12 | 4,614 | 69 | ||||||||||||||||||||
Collateralized debt obligations | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Collateralized Mortgage obligations | 9 | 5,649 | 21 | 4 | 3,649 | 85 | 13 | 9,298 | 106 | ||||||||||||||||||||
Mortgage-backed securities and other | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total temporarily impaired securities | 21 | $ | 11,339 | $ | 49 | 16 | $ | 11,674 | $ | 236 | 37 | $ | 23,013 | $ | 284 | ||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
(Less than 12 months) | (12 months or longer) | Total | |||||||||||||||||||||||||||
Description of | Number | Fair | Unrealized | Number | Fair | Unrealized | Number | Fair | Unrealized | ||||||||||||||||||||
securities | of | value | losses | of | value | losses | of | value | losses | ||||||||||||||||||||
securities | securities | securities | |||||||||||||||||||||||||||
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 | ||||||||||||||||||||
Collateralized mortgage obligations | 7 | 5,011 | 208 | 1 | 1,189 | 100 | 8 | 6,200 | 308 | ||||||||||||||||||||
Mortgage-backed securities and other | 5 | 3,434 | 23 | — | — | — | 5 | 3,434 | 23 | ||||||||||||||||||||
Total temporarily impaired securities | 59 | $ | 32,278 | $ | 1,139 | 6 | $ | 3,870 | $ | 1,105 | 65 | $ | 36,148 | $ | 2,244 | ||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | The amortized cost and estimated fair value of debt securities, at December 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 | $ | 1,417 | $ | 1,430 | |||||||||||||||||||||||||
Due from one to five years | 12,646 | 12,656 | |||||||||||||||||||||||||||
Due from five to ten years | 23,424 | 23,699 | |||||||||||||||||||||||||||
Due after ten years | 19,994 | 19,984 | |||||||||||||||||||||||||||
Mortgage-backed securities | 17,438 | 18,140 | |||||||||||||||||||||||||||
Total | $ | 74,919 | $ | 75,909 | |||||||||||||||||||||||||
Sales Of Investment In Securities Disclosure [Table Text Block] | Sales of investment securities during the years ended December 31, 2014 and 2013 were as follows (in thousands): | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Proceeds from investments sales | $ | 7,140 | $ | 2,560 | |||||||||||||||||||||||||
Gross gains on investment sales | $ | 242 | $ | 135 | |||||||||||||||||||||||||
Gross losses on investment sales | $ | -141 | $ | — | |||||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Receivables [Abstract] | ||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | At December 31, 2014, loans were comprised of the following (in thousands): | |||||||
2014 | 2013 | |||||||
Commercial and industrial | $ | 106,222 | $ | 122,084 | ||||
Commercial real estate | 111,851 | 104,692 | ||||||
Residential real estate and home equity | 129,650 | 96,245 | ||||||
Consumer and credit card | 37,507 | 32,862 | ||||||
Subtotal | 385,230 | 355,883 | ||||||
Add: Net deferred loan origination fees | 214 | 165 | ||||||
Total loans receivable | $ | 385,444 | $ | 356,048 | ||||
Schedule Of Loans To Related Parties [Table Text Block] | Loans to principal officers, directors, and their related affiliates during 2014 and 2013 in the normal course of business were as follows (in thousands). | |||||||
2014 | 2013 | |||||||
Balance at beginning of year | $ | 1,440 | $ | 469 | ||||
New loans | 7,070 | 1,058 | ||||||
Repayments | -403 | -87 | ||||||
Balance at end of year | $ | 8,107 | $ | 1,440 | ||||
Credit_Quality_Tables
Credit Quality (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 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 (in thousands). Commercial real estate includes real estate construction and land development loans. | ||||||||||||||||||||||
For the Year Ended December 31, 2014: | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | and | ||||||||||||||||||||
Credit Card | Industrial | Real Estate | Home Equity | Unallocated | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | — | $ | 6,724 | |||||||||||
Chargeoffs | -200 | -1,410 | -1,086 | -169 | — | -2,865 | |||||||||||||||||
Recoveries | 113 | 42 | 131 | 38 | — | 324 | |||||||||||||||||
Transfer to held for sale | — | — | -97 | — | — | -97 | |||||||||||||||||
Provision | -24 | -731 | 455 | 180 | 270 | 150 | |||||||||||||||||
Ending balance: | $ | 190 | $ | 1,132 | $ | 2,376 | $ | 268 | $ | 270 | $ | 4,236 | |||||||||||
Allowance on loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 256 | $ | 1,042 | $ | — | $ | — | $ | 1,298 | |||||||||||
Collectively evaluated for impairment | 190 | 876 | 1,334 | 268 | 270 | 2,938 | |||||||||||||||||
Ending balance: | $ | 190 | $ | 1,132 | $ | 2,376 | $ | 268 | $ | 270 | $ | 4,236 | |||||||||||
As of December 31, 2014: | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 455 | $ | 2,028 | $ | 9,690 | $ | — | $ | — | $ | 12,173 | |||||||||||
Collectively evaluated for impairment | 37,052 | 109,823 | 96,532 | 129,650 | — | 373,057 | |||||||||||||||||
Ending balance: | $ | 37,507 | $ | 111,851 | $ | 106,222 | $ | 129,650 | $ | — | $ | 385,230 | |||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Consumer and | Commercial and | Commercial | and | ||||||||||||||||||||
Credit Card | Industrial | Real Estate | Home Equity | Total | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance: | $ | 365 | $ | 1,620 | $ | 4,692 | $ | 204 | $ | 6,881 | |||||||||||||
Chargeoffs | -286 | -86 | -1,038 | -331 | -1,741 | ||||||||||||||||||
Recoveries | 219 | 823 | 38 | 52 | 1,132 | ||||||||||||||||||
Transfer to held for sale | — | — | -1,965 | — | -1,965 | ||||||||||||||||||
Provision | 3 | 874 | 1,246 | 294 | 2,417 | ||||||||||||||||||
Ending balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | 6,724 | |||||||||||||
Allowance on loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 2,304 | $ | 1,862 | $ | — | $ | 4,166 | |||||||||||||
Collectively evaluated for impairment | 301 | 927 | 1,111 | 219 | 2,558 | ||||||||||||||||||
Ending balance: | $ | 301 | $ | 3,231 | $ | 2,973 | $ | 219 | $ | 6,724 | |||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 7,221 | $ | 15,660 | $ | — | $ | 22,881 | |||||||||||||
Collectively evaluated for impairment | 32,862 | 114,863 | 89,032 | 96,245 | 333,002 | ||||||||||||||||||
Ending balance: | $ | 32,862 | $ | 122,084 | $ | 104,692 | $ | 96,245 | $ | 355,883 | |||||||||||||
Recorded investment, unpaid balance and related allowance [Table Text Block] | The following table indicates impaired loans with and without an allocated allowance at December 31, 2014 (in thousands). | ||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||
Consumer and credit card | $ | 455 | $ | 455 | $ | — | $ | 474 | $ | 25 | |||||||||||||
Commercial and industrial | 1,288 | 1,288 | — | 1,531 | 45 | ||||||||||||||||||
Commercial real estate | 1,088 | 1,088 | — | 6,714 | 70 | ||||||||||||||||||
With allowance recorded | |||||||||||||||||||||||
Commercial and industrial | 740 | 817 | 256 | 1,772 | 43 | ||||||||||||||||||
Commercial real estate | 8,602 | 8,602 | 1,042 | 6,048 | 595 | ||||||||||||||||||
Total | |||||||||||||||||||||||
Consumer and credit card | 455 | 455 | — | 474 | 25 | ||||||||||||||||||
Commercial and industrial | 2,028 | 2,105 | 256 | 3,303 | 88 | ||||||||||||||||||
Commercial real estate | 9,690 | 9,690 | 1,042 | 12,762 | 665 | ||||||||||||||||||
Total | $ | 12,173 | $ | 12,250 | $ | 1,298 | $ | 16,539 | $ | 778 | |||||||||||||
The following table indicates impaired loans with and without an allocated allowance at December 31, 2013 (in thousands). | |||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||
Commercial and industrial | $ | 1,530 | $ | 1,530 | $ | — | $ | 3,081 | $ | 67 | |||||||||||||
Commercial real estate | 9,892 | 11,788 | — | 10,005 | 615 | ||||||||||||||||||
With allowance recorded | |||||||||||||||||||||||
Commercial and industrial | 5,691 | 5,833 | 2,304 | 2,686 | 196 | ||||||||||||||||||
Commercial real estate | 5,768 | 7,296 | 1,862 | 10,060 | 308 | ||||||||||||||||||
Total | |||||||||||||||||||||||
Commercial and industrial | 7,221 | 7,363 | 2,304 | 5,767 | 263 | ||||||||||||||||||
Commercial real estate | 15,660 | 19,084 | 1,862 | 20,065 | 923 | ||||||||||||||||||
Total | $ | 22,881 | $ | 26,447 | $ | 4,166 | $ | 25,832 | $ | 1,186 | |||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | Loans on non-accrual status as of December 31, 2014 and 2013 are as follows (in thousands): | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Consumer and credit card | $ | 120 | $ | — | |||||||||||||||||||
Commercial and industrial | 632 | 4,702 | |||||||||||||||||||||
Commercial real estate | 298 | 1,398 | |||||||||||||||||||||
Residential real estate and home equity | 334 | 352 | |||||||||||||||||||||
Total | $ | 1,384 | $ | 6,452 | |||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit risk exposure by risk profile and by class of commercial loans was as follows at year-end 2014 (in thousands). | ||||||||||||||||||||||
Commercial and | Commercial | ||||||||||||||||||||||
Category | Industrial | Real Estate | |||||||||||||||||||||
Pass-1-4 | $ | 106,590 | $ | 90,588 | |||||||||||||||||||
Vulnerable-5 | 823 | 6,146 | |||||||||||||||||||||
Substandard-6 | 4,438 | 9,488 | |||||||||||||||||||||
Doubtful-7 | — | — | |||||||||||||||||||||
Loss-8 | — | — | |||||||||||||||||||||
Total | $ | 111,851 | $ | 106,222 | |||||||||||||||||||
Credit risk exposure by risk profile and by class of commercial loans was as follows at year-end 2013 (in thousands). | |||||||||||||||||||||||
Commercial and | Commercial | ||||||||||||||||||||||
Category | 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] | The following table presents the recorded investment in consumer loans and residential real estate loans based on payment activity at the dates indicated (in thousands). | ||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 37,387 | $ | 128,836 | |||||||||||||||||||
Non-Performing | 120 | 814 | |||||||||||||||||||||
Total | $ | 37,507 | $ | 129,650 | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||
Payment Category | Consumer and | Residential Real | |||||||||||||||||||||
Credit Card | Estate and Home | ||||||||||||||||||||||
Equity | |||||||||||||||||||||||
Performing | $ | 32,862 | $ | 95,333 | |||||||||||||||||||
Non-Performing | — | 912 | |||||||||||||||||||||
Total | $ | 32,862 | $ | 96,245 | |||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | The following table presents past due loans aged as of December 31, 2014 (in thousands). | ||||||||||||||||||||||
Category | 30-59 Days | 60-89 | Greater | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | than 90 | Past Due | Investment | |||||||||||||||||||
Past | Days Past | > 90 days | |||||||||||||||||||||
Due | Due | and | |||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Consumer and Credit Card | $ | 66 | $ | 7 | $ | 120 | $ | 193 | $ | 37,314 | $ | 37,507 | $ | — | |||||||||
Commercial and Industrial | 68 | — | — | 68 | 111,783 | 111,851 | — | ||||||||||||||||
Commercial Real Estate | 49 | — | 306 | 355 | 105,867 | 106,222 | — | ||||||||||||||||
Residential Real Estate and Home Equity | 220 | 30 | 642 | 892 | 128,758 | 129,650 | 480 | ||||||||||||||||
Total | $ | 403 | $ | 37 | $ | 1,068 | $ | 1,508 | $ | 383,722 | $ | 385,230 | $ | 480 | |||||||||
The following table presents past due loans aged as of December 31, 2013 (in thousands). | |||||||||||||||||||||||
Category | 30-59 Days | 60-89 | 90 Days | Total | Current | Total Loans | Recorded | ||||||||||||||||
Past Due | Days | or more | Past Due | Investment | |||||||||||||||||||
Past | Past Due | > 90 days | |||||||||||||||||||||
Due | and | ||||||||||||||||||||||
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 | 197 | 321 | 892 | 95,353 | 96,245 | 560 | ||||||||||||||||
Total | $ | 920 | $ | 289 | $ | 2,004 | $ | 3,213 | $ | 352,670 | $ | 355,883 | $ | 560 | |||||||||
Schedule of Debtor Troubled Debt Restructuring, Current Period [Table Text Block] | Information regarding Troubled Debt Restructuring (“TDR”) loans for the year ended December 31, 2014 and 2013 is as follows (dollars in thousands): | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Number of | Post- | Number of | Post- | ||||||||||||||||||||
contracts | modification | contracts | modification | ||||||||||||||||||||
outstanding | outstanding | ||||||||||||||||||||||
recorded | recorded | ||||||||||||||||||||||
investment | investment | ||||||||||||||||||||||
Consumer and credit card | — | $ | — | — | $ | — | |||||||||||||||||
Commercial and industrial | — | — | 4 | 1,081 | |||||||||||||||||||
Commercial real estate | — | — | 8 | 3,905 | |||||||||||||||||||
Residential real estate and home equity | — | — | — | — | |||||||||||||||||||
Total | — | $ | — | 12 | $ | 4,986 | |||||||||||||||||
The following presents by class loans modified in a TDR during the years ended December 31, 2014 and 2013 that subsequently defaulted (i.e. 60 days or more past due following a modification) during the next twelve month periods (dollars in thousands). | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Number | Post-Modification | Number | Post-Modification | ||||||||||||||||||||
of | Outstanding | of | Outstanding | ||||||||||||||||||||
Contracts | Recorded Investment | Contracts | Recorded Investment | ||||||||||||||||||||
Consumer and Credit Card | — | $ | — | — | $ | — | |||||||||||||||||
Commercial and Industrial | — | — | 3 | 1,075 | |||||||||||||||||||
Commercial Real Estate | — | — | 1 | 484 | |||||||||||||||||||
Residential Real Estate and Home Equity | — | — | — | — | |||||||||||||||||||
Total | — | $ | — | 4 | $ | 1,559 | |||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Premises and equipment were as follows at the dates indicated (in thousands): | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land | $ | 1,266 | $ | 1,266 | ||||
Buildings | 13,287 | 13,277 | ||||||
Furniture and equipment | 9,948 | 9,836 | ||||||
Subtotal | 24,501 | 24,379 | ||||||
Accumulated depreciation | -15,115 | -14,329 | ||||||
Total premises and equipment | 9,386 | 10,050 | ||||||
Software, net of accumulated amortization | 630 | 591 | ||||||
Total premises and equipment | $ | 10,016 | $ | 10,641 | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The total future minimum lease commitments at December 31, 2014 under these leases are summarized as follows (in thousands). | |||||||
2015 | $ | 596 | ||||||
2016 | 587 | |||||||
2017 | 361 | |||||||
2018 | 231 | |||||||
2019 | 199 | |||||||
Thereafter | 250 | |||||||
Total | $ | 2,224 | ||||||
InterestBearing_Deposits_Table
Interest-Bearing Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ||||||||
Schedule Of Interest Bearing Deposits [Table Text Block] | Interest-bearing deposits were as follows at the dates indicated (in thousands): | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Interest-bearing demand | $ | 77,534 | $ | 68,382 | ||||
Money market | 147,667 | 123,237 | ||||||
Savings deposits | 42,634 | 41,231 | ||||||
Time deposits | ||||||||
In denominations under $250,000 | 64,758 | 75,608 | ||||||
In denominations of $250,000 or more | 9,577 | 8,779 | ||||||
Total | $ | 342,170 | $ | 317,237 | ||||
Schedule Of Time Deposits By Maturity [Table Text Block] | Scheduled maturities of time deposits were as follows (in thousands): | |||||||
2015 | $ | 48,431 | ||||||
2016 | 23,343 | |||||||
2017 | 2,154 | |||||||
2018 | 346 | |||||||
2019 and after | 61 | |||||||
Total | $ | 74,335 | ||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Schedule Of Outstanding Borrowing [Table Text Block] | The following is a summary of borrowings outstanding at year ending December 31, 2014 and 2013 (in thousands): | |||||||
2014 | 2013 | |||||||
Total Borrowings: | ||||||||
FHLB advances | $ | 11,808 | $ | 4,838 | ||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | The contractual amounts of FHLB borrowings mature as follows at December 31, 2014 (dollars in thousands). | |||||||
Weighted | ||||||||
Maturing | Amount | Average Rate | ||||||
2014 | $ | — | — | % | ||||
2015 | 7,257 | 0.27 | % | |||||
2016 | 1,530 | 0.84 | % | |||||
2017 | 590 | 1.12 | % | |||||
2018 | 2,034 | 1.79 | % | |||||
2019 and after | 397 | 5.44 | % | |||||
$ | 11,808 | 0.82 | % | |||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock option activity in the 2004 Plan for the year ended December 31, 2014 was as follows: | ||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average Exercise | |||||||||||||||||
Price | |||||||||||||||||
Outstanding at beginning of year | 250,518 | $ | 9.91 | ||||||||||||||
Exercised | 17,073 | 3.81 | |||||||||||||||
Forfeited/cancelled | 147,816 | 12.91 | |||||||||||||||
Outstanding at end of year | 85,629 | $ | 6.81 | ||||||||||||||
Options exercisable at year end | 58,450 | $ | 8.11 | ||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | The following table summarizes the Company’s stock options at December 31, 2014: | ||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Range of | Options | Weighted | Weighted | Options | Weighted | ||||||||||||
Exercise | Outstanding | Average | Average | Exercisable | Average | ||||||||||||
Prices | Exercise | Remaining | Exercise | ||||||||||||||
Price | Life (Years) | Price | |||||||||||||||
$3.50-$5.40 | 68,999 | $ | 3.95 | 6.9 | 41,820 | $ | 3.78 | ||||||||||
$5.41-$9.00 | 5,196 | $ | 9 | 4.5 | 5,196 | $ | 9 | ||||||||||
$9.01-$16.90 | 4,783 | $ | 16.9 | 3.1 | 4,783 | $ | 16.9 | ||||||||||
$16.01-$30.70 | 6,651 | $ | 26.01 | 1.7 | 6,651 | $ | 26.01 | ||||||||||
Federal_Income_Taxes_Tables
Federal Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense (benefit) for the years ended December 31, 2014 and 2013 included the following components (in thousands). | |||||||
2014 | 2013 | |||||||
Current | $ | — | $ | — | ||||
Deferred | 384 | -1,918 | ||||||
Valuation allowance | -384 | 1,620 | ||||||
Totals | $ | - | $ | -298 | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The difference between the financial statement tax provision and amounts computed by applying the statutory federal income tax rate to income before income taxes was as follows (in thousands): | |||||||
2014 | 2013 | |||||||
Income tax benefit computed at the statutory federal income tax rate | $ | 127 | $ | -1,098 | ||||
Tax exempt income | -330 | -1,002 | ||||||
Change in valuation allowance | -384 | 1,620 | ||||||
Other | 587 | -324 | ||||||
Totals | $ | - | $ | -298 | ||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year-end deferred tax assets and liabilities were comprised of the following (in thousands). | |||||||
2014 | 2013 | |||||||
Deferred tax assets | ||||||||
Allowance for loan losses | $ | 1,440 | $ | 3,369 | ||||
Depreciation | 103 | 92 | ||||||
Deferred compensation | 316 | 54 | ||||||
Alternative minimum tax carry forward | 145 | 145 | ||||||
Other-than-temporary impairment losses | - | 369 | ||||||
Expenses on foreclosed real estate | 10 | 70 | ||||||
NOL carry forward | 8,910 | 7,460 | ||||||
Other | 284 | 151 | ||||||
Subtotal | 11,208 | 11,710 | ||||||
Deferred tax liabilities | ||||||||
FHLB stock dividends | -389 | -455 | ||||||
Unrealized (gain) loss on available-for-sale securities | -337 | 399 | ||||||
Other | -35 | -87 | ||||||
Subtotal | -761 | -143 | ||||||
Net deferred tax asset | 10,447 | 11,567 | ||||||
Less: valuation allowance | -10,784 | -11,168 | ||||||
Total | $ | -337 | $ | 399 | ||||
Commitments_Contingencies_and_1
Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||
Contractual Amount Of Financing Instruments With Off Balance Sheet Risk [Table Text Block] | The contractual amount of financing instruments with off-balance sheet risk was as follows at year-end (in thousands). | |||||||||||||
2014 | 2013 | |||||||||||||
Fixed | Variable | Fixed | Variable | |||||||||||
rate | rate | rate | rate | |||||||||||
Commitments to extend credit | $ | 2,290 | $ | 8,300 | $ | 6,568 | $ | 2,129 | ||||||
Unused lines of credit and letters of credit | $ | 4,953 | $ | 127,076 | $ | 4,126 | $ | 124,811 | ||||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Mortgage Banking [Abstract] | ||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual and required capital ratios are presented below at year-end (dollars in thousands). | |||||||||||||||||||
To be well capitalized | ||||||||||||||||||||
under Prompt Corrective | ||||||||||||||||||||
Action Provisions (in 2013) | ||||||||||||||||||||
and pursuant to the Consent | ||||||||||||||||||||
For capital adequacy | Order and Written | |||||||||||||||||||
Actual | purposes | Agreement (2012) | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
December 31, 2014: | ||||||||||||||||||||
Total capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 50,656 | 13.88 | % | $ | 29,197 | 8 | % | N/A | N/A | ||||||||||
Bank | $ | 49,602 | 13.56 | % | $ | 29,264 | 8 | % | $ | 36,580 | 10 | % | ||||||||
Tier-1 (core) capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 46,420 | 12.72 | % | $ | 14,597 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 45,366 | 12.4 | % | $ | 14,634 | 4 | % | $ | 21,951 | 6 | % | ||||||||
Tier-1 (core) capital to average assets | ||||||||||||||||||||
Consolidated | $ | 46,420 | 9.21 | % | $ | 20,161 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 45,366 | 9 | % | $ | 20,163 | 4 | % | $ | 25,203 | 5 | % | ||||||||
December 31, 2013: | ||||||||||||||||||||
Total capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 50,644 | 13.82 | % | $ | 29,321 | 8 | % | N/A | N/A | ||||||||||
Bank | $ | 49,473 | 13.5 | % | $ | 29,321 | 8 | % | $ | 36,651 | 10 | % | ||||||||
Tier-1 (core) capital to risk-weighted assets | ||||||||||||||||||||
Consolidated | $ | 46,036 | 12.56 | % | $ | 14,661 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 44,865 | 12.24 | % | $ | 14,661 | 4 | % | $ | 21,992 | 6 | % | ||||||||
Tier-1 (core) capital to average assets | ||||||||||||||||||||
Consolidated | $ | 46,036 | 9 | % | $ | 20,456 | 4 | % | N/A | N/A | ||||||||||
Bank | $ | 44,865 | 8.77 | % | $ | 20,456 | 4 | % | $ | 25,570 | 5 | % | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 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 December 31, 2014: | |||||||||||||||||
Carrying | |||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 21,274 | $ | 21,274 | $ | 21,274 | $ | — | $ | — | |||||||
Securities available-for-sale | 75,909 | 75,909 | — | 75,909 | — | ||||||||||||
Loans (net of allowance) | 381,208 | 381,224 | — | — | 381,224 | ||||||||||||
FHLB stock | 3,250 | 3,250 | — | 3,250 | — | ||||||||||||
Accrued interest receivable | 1,234 | 1,234 | — | — | 1,234 | ||||||||||||
Financial liabilities | |||||||||||||||||
Noninterest-bearing deposits | $ | 111,022 | $ | 111,022 | $ | — | $ | 111,022 | $ | — | |||||||
Interest-bearing deposits | 342,170 | 342,318 | — | 342,318 | — | ||||||||||||
FHLB advances | 11,808 | 11,808 | — | 11,808 | — | ||||||||||||
Accrued interest payable | 36 | 36 | — | — | 36 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
Carrying | Fair | ||||||||||||||||
Amount | Value | Level 1 | Level 2 | Level 3 | |||||||||||||
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) | $ | 112,711 | $ | 112,711 | $ | — | $ | 112,711 | $ | — | |||||||
Interest-bearing deposits (2) | 317,237 | 318,107 | — | 318,107 | — | ||||||||||||
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 December 31, 2014 and December 31, 2013 (in thousands): | ||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | |||||||||||||||
31-Dec-14 | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
U.S. Government and agency obligations | $ | 11,545 | $ | — | $ | 11,545 | $ | — | |||||||||
State and municipal obligations | 21,657 | — | 21,657 | — | |||||||||||||
Corporate bonds | 4,987 | — | 4,987 | — | |||||||||||||
Collateralized mortgage obligation | 19,580 | — | 19,580 | — | |||||||||||||
Mortgage-backed securities and other | 18,140 | — | 18,140 | — | |||||||||||||
Total | $ | 75,909 | $ | — | $ | 75,909 | $ | — | |||||||||
Fair Value Measurements Using | |||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Identical Assets | Observable Inputs | Inputs | |||||||||||||||
31-Dec-13 | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
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 | |||||||||||||
Collateralized mortgage obligation | 15,045 | — | 15,045 | — | |||||||||||||
Mortgage-backed securities and other | 24,007 | — | 24,007 | — | |||||||||||||
Total | $ | 79,948 | $ | — | $ | 78,972 | $ | 976 | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The table below presents a roll-forward of the balance sheet amounts for the year ended December 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 | |||||||||||||||||
Year ended December 31, 2014 | |||||||||||||||||
Balance, beginning of year | $ | 976 | |||||||||||||||
Sales | -1,775 | ||||||||||||||||
Total gains (losses): | |||||||||||||||||
Included in earnings | -141 | ||||||||||||||||
Included in other comprehensive income | 940 | ||||||||||||||||
Balance, end of year | $ | — | |||||||||||||||
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 December 31, 2014 and 2013 (in thousands). | ||||||||||||||||
December 31, 2014 | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 12,173 | $ | — | $ | — | $ | 12,173 | |||||||||
Real estate owned | 1,111 | — | — | 1,111 | |||||||||||||
December 31, 2013 | Fair Value Measurements Using | ||||||||||||||||
Quoted Prices in | Significant | ||||||||||||||||
Active Markets for | Significant Other | Unobservable | |||||||||||||||
Fair | Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Impaired loans | $ | 22,881 | — | — | $ | 22,881 | |||||||||||
Real estate owned | 1,219 | — | — | 1,219 | |||||||||||||
Parent_Company_Financial_Infor1
Parent Company Financial Information (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets | |||||||
2014 | 2013 | |||||||
Assets | ||||||||
Cash | $ | 948 | $ | 948 | ||||
Investment in subsidiaries | 46,283 | 44,336 | ||||||
Total assets | $ | 47,231 | $ | 45,284 | ||||
Liabilities | ||||||||
Other liabilities | $ | 20 | $ | 20 | ||||
Shareholders’ Equity | 47,211 | 45,264 | ||||||
Total liabilities and shareholders’ equity | $ | 47,231 | $ | 45,284 | ||||
Condensed Income Statement [Table Text Block] | Condensed Statements of Operations | |||||||
2014 | 2013 | |||||||
Equity in undistributed income (loss) of subsidiaries | $ | 372 | -2,805 | |||||
Other | — | — | ||||||
Total income (loss) | 372 | -2,805 | ||||||
Operating expenses | — | -126 | ||||||
Federal income tax | — | — | ||||||
Net income (loss) | $ | 372 | $ | -2,931 | ||||
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows | |||||||
2014 | 2013 | |||||||
Cash flows from operating activities | ||||||||
Net income (loss) | $ | 372 | $ | -2,931 | ||||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||||
Equity in undistributed net income (loss) from subsidiaries | -372 | 2,805 | ||||||
Net change in other assets and liabilities | — | -4,171 | ||||||
Net cash used in operating activities | — | -4,297 | ||||||
Cash flows from investing activities | ||||||||
Investments in affiliates | — | 5 | ||||||
Net cash provided by investing activities | — | 5 | ||||||
Cash flows from financing activities | ||||||||
Investment in Subsidiary | — | -8,092 | ||||||
Net cash used in financing activities | — | -8,092 | ||||||
Net change in cash | — | -12,382 | ||||||
Cash at beginning of year | 948 | 13,332 | ||||||
Cash at end of year | $ | 948 | $ | 948 | ||||
Details_of_Operating_Expenses_
Details of Operating Expenses (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Other Income and Expenses [Abstract] | ||||||||
Summary Of Composition Of Occupancy And Equipment Expenses [Table Text Block] | The following table details the composition of occupancy and equipment expenses for the years ended December 31, 2014 and 2013. | |||||||
(In thousands) | 2014 | 2013 | ||||||
Bank occupancy expense | $ | 1,876 | $ | 1,590 | ||||
Equipment lease | 83 | 342 | ||||||
Equipment depreciation | 233 | 303 | ||||||
Software maintenance | 961 | 824 | ||||||
Other | 39 | 10 | ||||||
Total | $ | 3,192 | $ | 3,069 | ||||
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | The following table details the composition of other operating expenses for the years ended December 31, 2014 and 2013. | |||||||
(In thousands) | 2014 | 2013 | ||||||
ATM and debit cards | $ | 690 | $ | 772 | ||||
Telephone | 269 | 320 | ||||||
Loan | 344 | 482 | ||||||
Real estate taxes | 325 | 281 | ||||||
OREO expenses | 26 | 22 | ||||||
Other operating | 1,169 | 1,065 | ||||||
Total | $ | 2,823 | $ | 2,942 | ||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | The following tables summarize the Company’s quarterly results for the years ended December 31, 2014 and 2013. | |||||||||||||
(Dollars in thousands, except share and per share data) | 2014 | |||||||||||||
Fourth | Third | Second | First | |||||||||||
Interest income | $ | 4,536 | $ | 4,278 | $ | 4,262 | $ | 4,304 | ||||||
Interest expense | 291 | 306 | 299 | 316 | ||||||||||
Net interest income | 4,245 | 3,972 | 3,963 | 3,988 | ||||||||||
Provision for loan losses | 150 | — | — | — | ||||||||||
Net interest income after provision for loan losses | 4,095 | 3,972 | 3,963 | 3,988 | ||||||||||
Other non-interest income | 1,132 | 1,140 | 996 | 1,192 | ||||||||||
Other non-interest expense | 5,059 | 5,062 | 4,922 | 5,063 | ||||||||||
Income before income tax expense | 168 | 50 | 37 | 117 | ||||||||||
Income taxes | — | — | — | — | ||||||||||
Net income | $ | 168 | $ | 50 | $ | 37 | $ | 117 | ||||||
Stock and related per share data | ||||||||||||||
Basic and diluted earnings per common share | $ | 0.02 | $ | 0.01 | $ | 0.01 | $ | 0.02 | ||||||
Basic weighted average common shares outstanding | 7,196,404 | 7,192,350 | 7,192,350 | 7,192,350 | ||||||||||
Diluted weighted average common shares outstanding | 7,232,961 | 7,249,194 | 7,250,702 | 7,244,716 | ||||||||||
2013 | ||||||||||||||
Fourth | Third | Second | First | |||||||||||
Interest income | $ | 4,372 | $ | 4,316 | $ | 4,245 | $ | 4,146 | ||||||
Interest expense | 369 | 425 | 494 | 530 | ||||||||||
Net interest income | 4,003 | 3,891 | 3,751 | 3,616 | ||||||||||
Provision for loan losses | 3,307 | — | -240 | -650 | ||||||||||
Net interest income after provision for loan losses | 696 | 3,891 | 3,991 | 4,266 | ||||||||||
Other non-interest income | 1,116 | 1,192 | 1,351 | 1,308 | ||||||||||
Other non-interest expense | 4,914 | 5,230 | 5,440 | 5,456 | ||||||||||
(Loss) income before income tax benefit | -3,102 | -147 | -98 | 118 | ||||||||||
Income tax benefit | — | -20 | -254 | -24 | ||||||||||
Net (loss) income | $ | -3,102 | $ | -127 | $ | 156 | $ | 142 | ||||||
Stock and related per share data | ||||||||||||||
Basic and diluted (loss) earnings per common share | $ | -0.43 | $ | -0.02 | $ | 0.02 | $ | 0.02 | ||||||
Basic weighted average common shares outstanding | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | ||||||||||
Diluted weighted average common shares outstanding | 7,192,350 | 7,192,350 | 7,227,901 | 7,223,144 | ||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Weighted-average shares for basic and diluted earnings per share | ||||||||||
Weighted-average common shares outstanding (basic) | 7,196,404 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,193,372 | 7,192,350 |
Dilutive effect of assumed exercise of stock options | 39,016 | 0 | ||||||||
Weighted-average common shares outstanding (diluted) | 7,232,961 | 7,249,194 | 7,250,702 | 7,244,716 | 7,192,350 | 7,192,350 | 7,227,901 | 7,223,144 | 7,232,388 | 7,192,350 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Locations | ||
Summary of Significant Accounting Policies [Abstract] | ||
Consumer Loans Charged Off Delinquency Period | 120 days | |
Mortgage Loans Charge Off Delinquency Period | 120 days | |
Loan Serviced For Others | $2,100,000 | $2,900,000 |
Aggregate Cash Reserves Required At Federal Reserve Bank | 1,100,000 | |
Number Of Locations Of Offices | 14 | |
Maturity Period Of Deposits With Other Financial Institution To Be Classified As Cash And Cash Equivalents Maximum | less than 90 days | |
Period Of Historical Loss Data Considered For Future Loss Expectations | 3 years | |
Unrealized Gain (Loss) on Investments | 336,000 | 398,000 |
Interest Income On Mortgage And Commercial Loans Discontinuation Period | 90 days | |
Servicing Asset, Total | $3,000 | $5,000 |
Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Examination | 50.00% | |
Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement | 50.00% | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 156,665 | |
Employee Stock Option [Member] | ||
Summary of Significant Accounting Policies [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 9,979 | |
Maximum [Member] | Buildings, improvements and leasehold improvements [Member] | ||
Summary of Significant Accounting Policies [Abstract] | ||
Property, Plant and Equipment, Useful Life | 39 years | |
Maximum [Member] | Furniture, fixtures and equipment [Member] | ||
Summary of Significant Accounting Policies [Abstract] | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Minimum [Member] | Buildings, improvements and leasehold improvements [Member] | ||
Summary of Significant Accounting Policies [Abstract] | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Minimum [Member] | Furniture, fixtures and equipment [Member] | ||
Summary of Significant Accounting Policies [Abstract] | ||
Property, Plant and Equipment, Useful Life | 3 years |
Sale_of_Branch_and_Loans_Held_2
Sale of Branch and Loans Held for Sale (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
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 | -438 |
Other, net | 10 |
Cash paid to Merchants | $12,464 |
Sale_of_Branch_and_Loans_Held_3
Sale of Branch and Loans Held for Sale (Details Textual) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2012 | |
Long Lived Assets Held-for-sale [Line Items] | ||||
Loans and Leases Receivable, Allowance, Ending Balance | $4,236,000 | $6,724,000 | $6,881,000 | |
Provision for Loan and Lease Losses | 150,000 | 2,417,000 | ||
Deposits Liabilities | 19,400,000 | |||
Loans Purchase | 4,800,000 | |||
Number of Loans Reclassified To Held For Sale | 54 | |||
Loans and Leases Receivable, Net of Deferred Income, Total | 385,230,000 | 355,883,000 | ||
Loans Receivable Held-for-sale, Amount | 2,200,000 | |||
Mortgage Loans on Real Estate, Number of Loans | 30 | |||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 1,900,000 | |||
Mortgage Loans on Real Estate, Carrying Amount of Mortgages | 769,000 | |||
Mortgage Loans on Real Estate, Write-down or Reserve, Amount | $1,100,000 | |||
Mortgage Loans on Real Estate, Interest Rate | 4.40% |
Securities_Details
Securities (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Fair values of securities available-for-sale | ||
Amortized Costs | $74,919 | $81,120 |
Gross Unrealized Gains | 1,274 | 1,072 |
Gross Unrealized Losses | -284 | -2,244 |
Fair Value | 75,909 | 79,948 |
Collateralized mortgage obligation [Member] | ||
Fair values of securities available-for-sale | ||
Amortized Costs | 19,601 | 15,217 |
Gross Unrealized Gains | 85 | 135 |
Gross Unrealized Losses | -106 | -308 |
Fair Value | 19,580 | 15,045 |
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 | |
U.S. Government and agency obligations [Member] | ||
Fair values of securities available-for-sale | ||
Amortized Costs | 11,602 | 13,714 |
Gross Unrealized Gains | 31 | 16 |
Gross Unrealized Losses | -88 | -428 |
Fair Value | 11,545 | 13,302 |
Corporate bonds [Member] | ||
Fair values of securities available-for-sale | ||
Amortized Costs | 4,975 | 6,187 |
Gross Unrealized Gains | 33 | 42 |
Gross Unrealized Losses | -21 | -61 |
Fair Value | 4,987 | 6,168 |
States and municipal obligations [Member] | ||
Fair values of securities available-for-sale | ||
Amortized Costs | 21,303 | 20,651 |
Gross Unrealized Gains | 423 | 283 |
Gross Unrealized Losses | -69 | -484 |
Fair Value | 21,657 | 20,450 |
Mortgage-backed securities [Member] | ||
Fair values of securities available-for-sale | ||
Amortized Costs | 17,438 | 23,435 |
Gross Unrealized Gains | 702 | 596 |
Gross Unrealized Losses | 0 | -23 |
Fair Value | $18,140 | $24,007 |
Securities_Details_1
Securities (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Unrealized loss | ||
Number of securities | 37 | 65 |
Fair Value | $23,013 | $36,148 |
Unrealized Losses | 284 | 2,244 |
Collateralized Mortgage Obligations [Member] | ||
Unrealized loss | ||
Number of securities | 13 | 8 |
Fair Value | 9,298 | 6,200 |
Unrealized Losses | 106 | 308 |
Collateralized debt obligations [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 1 |
Fair Value | 0 | 976 |
Unrealized Losses | 0 | 940 |
Less than 12 months [Member] | ||
Unrealized loss | ||
Number of securities | 21 | 59 |
Fair Value | 11,339 | 32,278 |
Unrealized Losses | 49 | 1,139 |
Less than 12 months [Member] | Collateralized Mortgage Obligations [Member] | ||
Unrealized loss | ||
Number of securities | 9 | 7 |
Fair Value | 5,649 | 5,011 |
Unrealized Losses | 21 | 208 |
Less than 12 months [Member] | Collateralized debt obligations [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Losses | 0 | 0 |
12 months or longer [Member] | ||
Unrealized loss | ||
Number of securities | 16 | 6 |
Fair value | 11,674 | 3,870 |
Unrealized Losses | 236 | 1,105 |
12 months or longer [Member] | Collateralized Mortgage Obligations [Member] | ||
Unrealized loss | ||
Number of securities | 4 | 1 |
Fair value | 3,649 | 1,189 |
Unrealized Losses | 85 | 100 |
12 months or longer [Member] | Collateralized debt obligations [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 1 |
Fair value | 0 | 976 |
Unrealized Losses | 0 | 940 |
U.S. Government and agency obligations [Member] | ||
Unrealized loss | ||
Number of securities | 7 | 10 |
Fair Value | 6,934 | 10,680 |
Unrealized Losses | 88 | 428 |
U.S. Government and agency obligations [Member] | Less than 12 months [Member] | ||
Unrealized loss | ||
Number of securities | 3 | 10 |
Fair Value | 2,488 | 10,680 |
Unrealized Losses | 9 | 428 |
U.S. Government and agency obligations [Member] | 12 months or longer [Member] | ||
Unrealized loss | ||
Number of securities | 4 | 0 |
Fair value | 4,446 | 0 |
Unrealized Losses | 79 | 0 |
Corporate bonds [Member] | ||
Unrealized loss | ||
Number of securities | 5 | 7 |
Fair Value | 2,167 | 3,024 |
Unrealized Losses | 21 | 61 |
Corporate bonds [Member] | Less than 12 months [Member] | ||
Unrealized loss | ||
Number of securities | 1 | 5 |
Fair Value | 503 | 2,141 |
Unrealized Losses | 1 | 38 |
Corporate bonds [Member] | 12 months or longer [Member] | ||
Unrealized loss | ||
Number of securities | 4 | 2 |
Fair value | 1,664 | 883 |
Unrealized Losses | 21 | 23 |
State and municipal obligations [Member] | ||
Unrealized loss | ||
Number of securities | 12 | 34 |
Fair Value | 4,614 | 11,834 |
Unrealized Losses | 69 | 484 |
State and municipal obligations [Member] | Less than 12 months [Member] | ||
Unrealized loss | ||
Number of securities | 8 | 32 |
Fair Value | 2,699 | 11,012 |
Unrealized Losses | 18 | 442 |
State and municipal obligations [Member] | 12 months or longer [Member] | ||
Unrealized loss | ||
Number of securities | 4 | 2 |
Fair value | 1,915 | 822 |
Unrealized Losses | 51 | 42 |
Mortgage-backed securities and other [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 5 |
Fair Value | 0 | 3,434 |
Unrealized Losses | 0 | 23 |
Mortgage-backed securities and other [Member] | Less than 12 months [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 5 |
Fair Value | 0 | 3,434 |
Unrealized Losses | 0 | 23 |
Mortgage-backed securities and other [Member] | 12 months or longer [Member] | ||
Unrealized loss | ||
Number of securities | 0 | 0 |
Fair value | 0 | 0 |
Unrealized Losses | $0 | $0 |
Securities_Details_2
Securities (Details 2) (USD $) | Dec. 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 | $1,417 |
Available-for-sale, Amortized Cost, Due from one to five years | 12,646 |
Available-for-sale, Amortized Cost, Due from five to ten years | 23,424 |
Available-for-sale, Amortized Cost, Due after ten years | 19,994 |
Available-for-sale, Amortized Cost, Mortgage-backed securities | 17,438 |
Available-for-sale, Amortized Cost, Total | 74,919 |
Available-for-sale, Fair Value, Due in one year or less | 1,430 |
Available-for-sale, Fair Value, Due from one to five years | 12,656 |
Available-for-sale, Fair Value, Due from five to ten years | 23,699 |
Available-for-sale, Fair Value, Fair value, Due after ten years | 19,984 |
Available-for-sale, Fair Value, Mortgage-backed securities | 18,140 |
Available-for-sale, Fair Value, Total | $75,909 |
Securities_Details_3
Securities (Details 3) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Proceeds from investments sales | $7,140 | $2,560 |
Gross gains on investment sales | 242 | 135 |
Gross losses on investment sales | ($141) | $0 |
Securities_Details_Textual
Securities (Details Textual) (USD $) | 12 Months Ended | 1 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||
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 | 65,500,000 | 65,600,000 | |
Collateralized debt obligations [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from Sale of Available-for-sale Securities, Total | $140,000 |
Loans_Details
Loans (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans | ||
Commercial and industrial | $106,222 | $122,084 |
Commercial real estate | 111,851 | 104,692 |
Residential real estate and home equity | 129,650 | 96,245 |
Consumer and credit card | 37,507 | 32,862 |
Subtotal | 385,230 | 355,883 |
Add: Net deferred loan origination fees | 214 | 165 |
Total loans receivable | $385,444 | $356,048 |
Loans_Details_1
Loans (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule Of Loans [Line Items] | ||
Balance at beginning of year | $1,440 | $469 |
New loans | 7,070 | 1,058 |
Repayments | -403 | -87 |
Balance at end of year | $8,107 | $1,440 |
Credit_Quality_Details
Credit Quality (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Allowance for loan losses: | ||
Beginning balance: | $6,724 | $6,881 |
Chargeoffs | -2,865 | -1,741 |
Recoveries | 324 | 1,132 |
Transfer to held for sale | -97 | -1,965 |
Provision | 150 | 2,417 |
Ending balance: | 4,236 | 6,724 |
Allowance on loans: | ||
Individually evaluated for impairment | 1,298 | 4,166 |
Collectively evaluated for impairment | 2,938 | 2,558 |
Ending balance: | 4,236 | 6,724 |
Loans: | ||
Individually evaluated for impairment | 12,173 | 22,881 |
Collectively evaluated for impairment | 373,057 | 333,002 |
Ending balance: | 385,230 | 355,883 |
Consumer and Credit Card [Member] | ||
Allowance for loan losses: | ||
Beginning balance: | 301 | 365 |
Chargeoffs | -200 | -286 |
Recoveries | 113 | 219 |
Transfer to held for sale | 0 | 0 |
Provision | -24 | 3 |
Ending balance: | 190 | 301 |
Allowance on loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 190 | 301 |
Ending balance: | 190 | 301 |
Loans: | ||
Individually evaluated for impairment | 455 | 0 |
Collectively evaluated for impairment | 37,052 | 32,862 |
Ending balance: | 37,507 | 32,862 |
Commercial and Industrial [Member] | ||
Allowance for loan losses: | ||
Beginning balance: | 3,231 | 1,620 |
Chargeoffs | -1,410 | -86 |
Recoveries | 42 | 823 |
Transfer to held for sale | 0 | 0 |
Provision | -731 | 874 |
Ending balance: | 1,132 | 3,231 |
Allowance on loans: | ||
Individually evaluated for impairment | 256 | 2,304 |
Collectively evaluated for impairment | 876 | 927 |
Ending balance: | 1,132 | 3,231 |
Loans: | ||
Individually evaluated for impairment | 2,028 | 7,221 |
Collectively evaluated for impairment | 109,823 | 114,863 |
Ending balance: | 111,851 | 122,084 |
Commercial Real Estate [Member] | ||
Allowance for loan losses: | ||
Beginning balance: | 2,973 | 4,692 |
Chargeoffs | -1,086 | -1,038 |
Recoveries | 131 | 38 |
Transfer to held for sale | -97 | -1,965 |
Provision | 455 | 1,246 |
Ending balance: | 2,376 | 2,973 |
Allowance on loans: | ||
Individually evaluated for impairment | 1,042 | 1,862 |
Collectively evaluated for impairment | 1,334 | 1,111 |
Ending balance: | 2,376 | 2,973 |
Loans: | ||
Individually evaluated for impairment | 9,690 | 15,660 |
Collectively evaluated for impairment | 96,532 | 89,032 |
Ending balance: | 106,222 | 104,692 |
Residential Real Estate and Home Equity [Member] | ||
Allowance for loan losses: | ||
Beginning balance: | 219 | 204 |
Chargeoffs | -169 | -331 |
Recoveries | 38 | 52 |
Transfer to held for sale | 0 | 0 |
Provision | 180 | 294 |
Ending balance: | 268 | 219 |
Allowance on loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 268 | 219 |
Ending balance: | 268 | 219 |
Loans: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 129,650 | 96,245 |
Ending balance: | 129,650 | 96,245 |
Unallocated Financing Receivables [Member] | ||
Allowance for loan losses: | ||
Beginning balance: | 0 | |
Chargeoffs | 0 | |
Recoveries | 0 | |
Transfer to held for sale | 0 | |
Provision | 270 | |
Ending balance: | 270 | |
Allowance on loans: | ||
Individually evaluated for impairment | 0 | |
Collectively evaluated for impairment | 270 | |
Ending balance: | 270 | |
Loans: | ||
Individually evaluated for impairment | 0 | |
Collectively evaluated for impairment | 0 | |
Ending balance: | $0 |
Credit_Quality_Details_1
Credit Quality (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $12,173 | $22,881 |
Unpaid Principal Balance | 12,250 | 26,447 |
Related Allowance | 1,298 | 4,166 |
Average Recorded Investment | 16,539 | 25,832 |
Interest Income Recognized | 778 | 1,186 |
Consumer and Credit Card [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 455 | |
Unpaid Principal Balance | 455 | |
Related Allowance | 0 | |
Average Recorded Investment | 474 | |
Interest Income Recognized | 25 | |
Commercial and industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 2,028 | 7,221 |
Unpaid Principal Balance | 2,105 | 7,363 |
Related Allowance | 256 | 2,304 |
Average Recorded Investment | 3,303 | 5,767 |
Interest Income Recognized | 88 | 263 |
Commercial real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 9,690 | 15,660 |
Unpaid Principal Balance | 9,690 | 19,084 |
Related Allowance | 1,042 | 1,862 |
Average Recorded Investment | 12,762 | 20,065 |
Interest Income Recognized | 665 | 923 |
With no related allowance recorded [Member] | Consumer and Credit Card [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 455 | |
Unpaid Principal Balance | 455 | |
Related Allowance | 0 | |
Average Recorded Investment | 474 | |
Interest Income Recognized | 25 | |
With no related allowance recorded [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,288 | 1,530 |
Unpaid Principal Balance | 1,288 | 1,530 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,531 | 3,081 |
Interest Income Recognized | 45 | 67 |
With no related allowance recorded [Member] | Commercial real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,088 | 9,892 |
Unpaid Principal Balance | 1,088 | 11,788 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 6,714 | 10,005 |
Interest Income Recognized | 70 | 615 |
With allowance recorded [Member] | Commercial and industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 740 | 5,691 |
Unpaid Principal Balance | 817 | 5,833 |
Related Allowance | 256 | 2,304 |
Average Recorded Investment | 1,772 | 2,686 |
Interest Income Recognized | 43 | 196 |
With allowance recorded [Member] | Commercial real estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 8,602 | 5,768 |
Unpaid Principal Balance | 8,602 | 7,296 |
Related Allowance | 1,042 | 1,862 |
Average Recorded Investment | 6,048 | 10,060 |
Interest Income Recognized | $595 | $308 |
Credit_Quality_Details_2
Credit Quality (Details 2) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans on nonaccrual status | $1,384 | $6,452 |
Consumer and credit card [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans on nonaccrual status | 120 | 0 |
Commercial and industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans on nonaccrual status | 632 | 4,702 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans on nonaccrual status | 298 | 1,398 |
Residential real estate and home equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans on nonaccrual status | $334 | $352 |
Credit_Quality_Details_3
Credit Quality (Details 3) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Quality Indicators | ||
Loans | $385,444 | $356,048 |
Commercial and Industrial [Member] | ||
Credit Quality Indicators | ||
Loans | 111,851 | 122,084 |
Commercial and Industrial [Member] | Pass-1-4 [Member] | ||
Credit Quality Indicators | ||
Loans | 106,590 | 111,266 |
Commercial and Industrial [Member] | Vulnerable-5 [Member] | ||
Credit Quality Indicators | ||
Loans | 823 | 2,574 |
Commercial and Industrial [Member] | Substandard-6 [Member] | ||
Credit Quality Indicators | ||
Loans | 4,438 | 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 | 106,222 | 104,692 |
Commercial Real Estate [Member] | Pass-1-4 [Member] | ||
Credit Quality Indicators | ||
Loans | 90,588 | 83,953 |
Commercial Real Estate [Member] | Vulnerable-5 [Member] | ||
Credit Quality Indicators | ||
Loans | 6,146 | 4,785 |
Commercial Real Estate [Member] | Substandard-6 [Member] | ||
Credit Quality Indicators | ||
Loans | 9,488 | 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 $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | $385,444 | $356,048 |
Consumer and Credit Card [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | 37,507 | 32,862 |
Consumer and Credit Card [Member] | Performing [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | 37,387 | 32,862 |
Consumer and Credit Card [Member] | Non-Performing [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | 120 | 0 |
Residential real estate and home equity [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | 129,650 | 96,245 |
Residential real estate and home equity [Member] | Performing [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | 128,836 | 95,333 |
Residential real estate and home equity [Member] | Non-Performing [Member] | ||
Credit Quality Indicators | ||
Consumer risk based on payment activity | $814 | $912 |
Credit_Quality_Details_5
Credit Quality (Details 5) (USD $) | Dec. 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 | $403 | $920 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 37 | 289 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 1,068 | 2,004 |
Financing Receivable, Recorded Investment, Past Due, Total | 1,508 | 3,213 |
Financing Receivable, Recorded Investment, Current | 383,722 | 352,670 |
Financing Receivable, Recorded Investment, Subtotal | 385,230 | 355,883 |
Recorded Investment greater than 90 days and Accruing | 480 | 560 |
Consumer and Credit Card [Member] | ||
Age analysis of past due loans | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 66 | 90 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 7 | 92 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 120 | 0 |
Financing Receivable, Recorded Investment, Past Due, Total | 193 | 182 |
Financing Receivable, Recorded Investment, Current | 37,314 | 32,680 |
Financing Receivable, Recorded Investment, Subtotal | 37,507 | 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 | 68 | 407 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 0 | 1,001 |
Financing Receivable, Recorded Investment, Past Due, Total | 68 | 1,408 |
Financing Receivable, Recorded Investment, Current | 111,783 | 120,676 |
Financing Receivable, Recorded Investment, Subtotal | 111,851 | 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 | 49 | 49 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 306 | 682 |
Financing Receivable, Recorded Investment, Past Due, Total | 355 | 731 |
Financing Receivable, Recorded Investment, Current | 105,867 | 103,961 |
Financing Receivable, Recorded Investment, Subtotal | 106,222 | 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 | 220 | 374 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 30 | 197 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due | 642 | 321 |
Financing Receivable, Recorded Investment, Past Due, Total | 892 | 892 |
Financing Receivable, Recorded Investment, Current | 128,758 | 95,353 |
Financing Receivable, Recorded Investment, Subtotal | 129,650 | 96,245 |
Recorded Investment greater than 90 days and Accruing | $480 | $560 |
Credit_Quality_Details_6
Credit Quality (Details 6) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 12 |
Post-modification outstanding recorded investment | $0 | $4,986 |
Number of Contracts | 0 | 4 |
Post-modification outstanding recorded investment | 0 | 1,559 |
Consumer and credit card [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Post-modification outstanding recorded investment | 0 | 0 |
Number of Contracts | 0 | 0 |
Post-modification outstanding recorded investment | 0 | 0 |
Commercial and industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 4 |
Post-modification outstanding recorded investment | 0 | 1,081 |
Number of Contracts | 0 | 3 |
Post-modification outstanding recorded investment | 0 | 1,075 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 8 |
Post-modification outstanding recorded investment | 0 | 3,905 |
Number of Contracts | 0 | 1 |
Post-modification outstanding recorded investment | 0 | 484 |
Residential real estate and home equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Post-modification outstanding recorded investment | 0 | 0 |
Number of Contracts | 0 | 0 |
Post-modification outstanding recorded investment | $0 | $0 |
Credit_Quality_Details_Textual
Credit Quality (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Modifications [Line Items] | ||
Interest income recognized as non performing | $241,000 | $175,000 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 8,500,000 | 11,800,000 |
Commercial Real Estate [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 236,000 | 2,100,000 |
Commercial Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 780,000 | 262,000 |
Commercial Loan [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 68,000 | 1,100,000 |
Consumer Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $334,000 | $225,000 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant And Equipment Gross | $24,501 | $24,379 |
Accumulated depreciation | -15,115 | -14,329 |
Total premises and equipment | 9,386 | 10,050 |
Software, net of accumulated amortization | 630 | 591 |
Total premises and equipment | 10,016 | 10,641 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant And Equipment Gross | 1,266 | 1,266 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant And Equipment Gross | 13,287 | 13,277 |
Furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property Plant And Equipment Gross | $9,948 | $9,836 |
Premises_and_Equipment_Details1
Premises and Equipment (Details 1) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Property, Plant and Equipment [Line Items] | |
2015 | $596 |
2016 | 587 |
2017 | 361 |
2018 | 231 |
2019 | 199 |
Thereafter | 250 |
Total | $2,224 |
Premises_and_Equipment_Details2
Premises and Equipment (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation, Total | $1,070,000 | $1,068,000 |
Operating Leases, Rent Expense, Net, Total | 566,000 | 568,000 |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | $1,400,000 |
InterestBearing_Deposits_Detai
Interest-Bearing Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Time deposits | ||
Total | $342,170 | $317,237 |
Interest-bearing Deposits [Member] | ||
Interest Bearing Deposits [Line Items] | ||
Interest-bearing demand | 77,534 | 68,382 |
Money market | 147,667 | 123,237 |
Savings deposits | 42,634 | 41,231 |
Time deposits | ||
In denominations under $250,000 | 64,758 | 75,608 |
In denominations of $250,000 or more | 9,577 | 8,779 |
Total | $342,170 | $317,237 |
InterestBearing_Deposits_Detai1
Interest-Bearing Deposits (Details 1) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Interest Bearing Deposits [Line Items] | |
2015 | $48,431 |
2016 | 23,343 |
2017 | 2,154 |
2018 | 346 |
2019 and after | 61 |
Total | $74,335 |
Borrowings_Details
Borrowings (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Total Borrowings: | ||
FHLB advances | $11,808 | $4,838 |
Borrowings_Details_1
Borrowings (Details 1) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Schedule Of Borrowed Funds [Line Items] | |
2014, Amount | $0 |
2015, Amount | 7,257 |
2016, Amount | 1,530 |
2017, Amount | 590 |
2018, Amount | 2,034 |
2019 and after, Amount | 397 |
Amount, Total | $11,808 |
2014, Weighted Average Rate | 0.00% |
2015, Weighted Average Rate | 0.27% |
2016, Weighted Average Rate | 0.84% |
2017, Weighted Average Rate | 1.12% |
2018, Weighted Average Rate | 1.79% |
2019 and after, Weighted Average Rate | 5.44% |
Weighted Average Rate Of Borrowings | 0.82% |
Borrowings_Details_Textual
Borrowings (Details Textual) (USD $) | 3 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2014 | |
Schedule Of Borrowed Funds [Line Items] | ||
Line Of Credit Facility Amount | $30,100,000 | |
Amount Of Indirect Loan Pledged | 61,700,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 124,900,000 | 141,800,000 |
Federal Home Loan Bank Stock | 3,799,000 | 3,250,000 |
Federal Home Loan Bank advances, maturity term | 1 year 4 months 24 days | |
Penalty Prepayment to Federal Home Loan Bank | 268,000 | |
Payments for Federal Home Loan Bank Advances | $4,400,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 4.61% |
Retirement_Plans_Details_Textu
Retirement Plans (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Period for which individual completed employment | 6 months | |
Eligibility of individual, age basis | 20 or more years | |
Maximum contribution of Corporation | 3.00% | |
Contribution plan vesting period | 3 years | |
Expenses related retirement plan | $176,000 | $173,000 |
Total expenses | 38,000 | 0 |
Total accrued liability | 928,000 | 1,200,000 |
Outstanding liability | $768,000 | $1,000,000 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Summary of stock option plan | |
Outstanding at beginning of year, Shares | 250,518 |
Exercised, Shares | 17,073 |
Forfeited/cancelled, Shares | 147,816 |
Outstanding at end of year, Shares | 85,629 |
Options exercisable at period end, Shares | 58,450 |
Outstanding at beginning of year, Weighted Average Exercise Price | $9.91 |
Exercised, Weighted Average Exercise Price | $3.81 |
Forfeited/cancelled, Weighted Average Exercise Price | $12.91 |
Outstanding at end of period, Weighted Average Exercise Price | $6.81 |
Options exercisable at year end, Weighted Average Exercise Price | $8.11 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Range of Exercise Prices One [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range | $3.50 |
Exercise Prices, Higher Range | $5.40 |
Options Outstanding | 68,999 |
Options Outstanding, Weighted Average Exercise Price | $3.95 |
Options Outstanding, Weighted Average Remaining Life (Years) | 6 years 10 months 24 days |
Options Exercisable | 41,820 |
Options Exercisable, Weighted Average Exercise Price | $3.78 |
Range of Exercise Prices Two [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range | $5.41 |
Exercise Prices, Higher Range | $9 |
Options Outstanding | 5,196 |
Options Outstanding, Weighted Average Exercise Price | $9 |
Options Outstanding, Weighted Average Remaining Life (Years) | 4 years 6 months |
Options Exercisable | 5,196 |
Options Exercisable, Weighted Average Exercise Price | $9 |
Range of Exercise Prices Three [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range | $9.01 |
Exercise Prices, Higher Range | $16.90 |
Options Outstanding | 4,783 |
Options Outstanding, Weighted Average Exercise Price | $16.90 |
Options Outstanding, Weighted Average Remaining Life (Years) | 3 years 1 month 6 days |
Options Exercisable | 4,783 |
Options Exercisable, Weighted Average Exercise Price | $16.90 |
Range of Exercise Prices Four [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range | $16.01 |
Exercise Prices, Higher Range | $30.70 |
Options Outstanding | 6,651 |
Options Outstanding, Weighted Average Exercise Price | $26.01 |
Options Outstanding, Weighted Average Remaining Life (Years) | 1 year 8 months 12 days |
Options Exercisable | 6,651 |
Options Exercisable, Weighted Average Exercise Price | $26.01 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Nov. 25, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted,Weighted Average Exercise Price | $2.45 | ||
Risk-Free Interest Rate | 2.25% | ||
Unvested equity-based awards based on their grant-date fair value | $190,000 | $129,000 | |
Expected life | 10 years | ||
Expected common stock price volatility | 30.00% | ||
Unrecognized compensation expense to be recognized over the remaining life of outstanding options | 95,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercised, Intrinsic Value | 57,000 | 7,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 211,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 138,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 147,816 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 41,445 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $7.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 85,629 | 250,518 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 293,000 | ||
Deferred Compensation Arrangement with Individual, Compensation Expense | $38,000 | $0 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $0.03 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $0.67 | ||
Plan 2004 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee share option plan | 300,000 | ||
Employee share option plan granted | 20.00% | ||
Granted,Weighted Average Exercise Price | $5.40 | ||
Shares Granted | 58,450 | 13,889 | |
Plan 2014 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee share option plan | 350,000 | ||
Exchange Offer [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 113,873 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 64.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 190,104 |
Federal_Income_Taxes_Details
Federal Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Income tax expense (credits) | ||||||||||
Current | $0 | $0 | ||||||||
Deferred | 384 | -1,918 | ||||||||
Valuation allowance | -384 | 1,620 | ||||||||
Totals | $0 | $0 | $0 | $0 | $0 | ($20) | ($254) | ($24) | $0 | ($298) |
Federal_Income_Taxes_Details_1
Federal Income Taxes (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Income taxes (credits) computed at the statutory federal | ||||||||||
Income tax benefit computed at the statutory federal income tax rate | $127 | ($1,098) | ||||||||
Tax exempt income | -330 | -1,002 | ||||||||
Change in valuation allowance | -384 | 1,620 | ||||||||
Other | 587 | -324 | ||||||||
Totals | $0 | $0 | $0 | $0 | $0 | ($20) | ($254) | ($24) | $0 | ($298) |
Federal_Income_Taxes_Details_2
Federal Income Taxes (Details 2) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ||
Allowance for loan losses | $1,440 | $3,369 |
Depreciation | 103 | 92 |
Deferred compensation | 316 | 54 |
Alternative minimum tax carry forward | 145 | 145 |
Other-than-temporary impairment losses | 0 | 369 |
Expenses on foreclosed real estate | 10 | 70 |
NOL carry forward | 8,910 | 7,460 |
Other | 284 | 151 |
Subtotal | 11,208 | 11,710 |
Deferred tax liabilities | ||
FHLB stock dividends | -389 | -455 |
Unrealized (gain) loss on available-for-sale securities | -337 | 399 |
Other | -35 | -87 |
Subtotal | -761 | -143 |
Net deferred tax asset | 10,447 | 11,567 |
Less: valuation allowance | -10,784 | -11,168 |
Total | ($337) | $399 |
Federal_Income_Taxes_Details_T
Federal Income Taxes (Details Textual) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Investments, Owned, Federal Income Tax Note [Line Items] | |
Net operating loss carry forward | $26 |
Net operating loss carry forward, expiration starting period | 2030 |
Commitments_Contingencies_and_2
Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Commitments to Extend Credit [Member] | ||
Contractual amount of financing instruments with off-balance sheet risk | ||
Fixed rate | $2,290 | $6,568 |
Variable Rate | 8,300 | 2,129 |
Unused lines of credit and letters of credit [Member] | ||
Contractual amount of financing instruments with off-balance sheet risk | ||
Fixed rate | 4,953 | 4,126 |
Variable Rate | $127,076 | $124,811 |
Commitments_Contingencies_and_3
Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk (Details Textual) | 12 Months Ended |
Dec. 31, 2014 | |
Fair Value, Off balance Sheet Risks, Disclosure Information [LineItems] | |
Period of loan Maximum | 30 days |
Maturity Of Loans Subject To Fixed Rate Commitments | 1 to 30 years |
Material litigation | 0 |
Pending Litigation [Member] | |
Fair Value, Off balance Sheet Risks, Disclosure Information [LineItems] | |
Material litigation | 0 |
Material legal proceedings [Member] | |
Fair Value, Off balance Sheet Risks, Disclosure Information [LineItems] | |
Material litigation | 0 |
Regulatory_Capital_Details
Regulatory Capital (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of actual and required capital ratios | ||
Total capital to risk-weighted assets, Actual Amount | $50,656 | $50,644 |
Total capital to risk-weighted assets, Actual Ratio | 13.88% | 13.82% |
Total capital to risk-weighted assets, For capital adequacy purposes, Amount | 29,197 | 29,321 |
Total capital to risk-weighted assets, For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement , Amount | 0 | 0 |
Total capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 0.00% | 0.00% |
Tier 1 (core) capital to risk-weighted assets, Actual Amount | 46,420 | 46,036 |
Tier 1 (core) capital to risk-weighted assets, Actual Ratio | 12.72% | 12.56% |
Tier 1 (core) capital to risk-weighted assets, For capital adequacy purposes, Amount | 14,597 | 14,661 |
Tier 1 (core) capital to risk-weighted assets, For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Amount | 0 | 0 |
Tier 1 (core) capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 0.00% | 0.00% |
Tier 1 (core) capital to average assets, Actual Amount | 46,420 | 46,036 |
Tier 1 (core) capital to average assets, Actual Ratio | 9.21% | 9.00% |
Tier 1 (core) capital to average assets, For capital adequacy purposes, Amount | 20,161 | 20,456 |
Tier 1 (core) capital to average assets, For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital to average assets, To be well capitalized under Consent Order and Written Agreement, Amount | 0 | 0 |
Tier 1 (core) capital to average assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 0.00% | 0.00% |
Subsidiaries [Member] | ||
Summary of actual and required capital ratios | ||
Total capital to risk-weighted assets, Actual Amount | 49,602 | 49,473 |
Total capital to risk-weighted assets, Actual Ratio | 13.56% | 13.50% |
Total capital to risk-weighted assets, For capital adequacy purposes, Amount | 29,264 | 29,321 |
Total capital to risk-weighted assets, For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement , Amount | 36,580 | 36,651 |
Total capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 10.00% | 10.00% |
Tier 1 (core) capital to risk-weighted assets, Actual Amount | 45,366 | 44,865 |
Tier 1 (core) capital to risk-weighted assets, Actual Ratio | 12.40% | 12.24% |
Tier 1 (core) capital to risk-weighted assets, For capital adequacy purposes, Amount | 14,634 | 14,661 |
Tier 1 (core) capital to risk-weighted assets, For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Amount | 21,951 | 21,992 |
Tier 1 (core) capital to risk-weighted assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 6.00% | 6.00% |
Tier 1 (core) capital to average assets, Actual Amount | 45,366 | 44,865 |
Tier 1 (core) capital to average assets, Actual Ratio | 9.00% | 8.77% |
Tier 1 (core) capital to average assets, For capital adequacy purposes, Amount | 20,163 | 20,456 |
Tier 1 (core) capital to average assets, For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital to average assets, To be well capitalized under Consent Order and Written Agreement, Amount | $25,203 | $25,570 |
Tier 1 (core) capital to average assets, To be well capitalized under Consent Order and Written Agreement, Ratio | 5.00% | 5.00% |
Regulatory_Capital_Details_Tex
Regulatory Capital (Details Textual) (USD $) | Dec. 31, 2014 |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments with Regulatory Approval | $372,000 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | ||||
Financial assets | ||||
Cash and cash equivalents, Carrying amount | $21,274 | $25,357 | $63,307 | |
Securities available-for-sale, Carrying amount | 75,909 | 79,948 | ||
Loans (net of allowance), Carrying amount | 381,208 | 349,324 | ||
FHLB stock, Carrying amount | 3,250 | 3,799 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Carrying amount | 111,022 | 109,622 | ||
Interest-bearing deposits, Carrying amount | 342,170 | 317,237 | ||
FHLB advances, Carrying amount | 11,808 | |||
Level 1 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, Fair value | 21,274 | 25,357 | ||
Securities available-for-sale, Carrying amount | 0 | 0 | ||
Securities available-for-sale, Fair value | 0 | 0 | ||
Loans (net of allowance), Fair value | 0 | 0 | [1] | |
FHLB stock, Fair value | 0 | 0 | ||
Accrued interest receivable, Fair value | 0 | 0 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Fair value | 0 | 0 | [2] | |
Interest-bearing deposits, Fair value | 0 | 0 | [2] | |
FHLB advances, Fair value | 0 | 0 | ||
Accrued interest payable, Fair value | 0 | 0 | ||
Level 2 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, Fair value | 0 | 0 | ||
Securities available-for-sale, Carrying amount | 75,909 | 78,972 | ||
Securities available-for-sale, Fair value | 75,909 | 78,972 | ||
Loans (net of allowance), Fair value | 0 | 0 | [1] | |
FHLB stock, Fair value | 3,250 | 3,799 | ||
Accrued interest receivable, Fair value | 0 | 0 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Fair value | 111,022 | 112,711 | [2] | |
Interest-bearing deposits, Fair value | 342,318 | 318,107 | [2] | |
FHLB advances, Fair value | 11,808 | 4,838 | ||
Accrued interest payable, Fair value | 0 | 0 | ||
Level 3 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, Fair value | 0 | 0 | ||
Securities available-for-sale, Carrying amount | 0 | 976 | ||
Securities available-for-sale, Fair value | 0 | 976 | ||
Loans (net of allowance), Fair value | 381,224 | 348,295 | [1] | |
FHLB stock, Fair value | 0 | 0 | ||
Accrued interest receivable, Fair value | 1,234 | 1,356 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Fair value | 0 | 0 | [2] | |
Interest-bearing deposits, Fair value | 0 | 0 | [2] | |
FHLB advances, Fair value | 0 | 0 | ||
Accrued interest payable, Fair value | 36 | 112 | ||
Carrying amount [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, Carrying amount | 21,274 | 25,357 | ||
Securities available-for-sale, Carrying amount | 75,909 | 79,948 | ||
Loans (net of allowance), Carrying amount | 381,208 | 357,130 | [1] | |
FHLB stock, Carrying amount | 3,250 | 3,799 | ||
Accrued interest receivable, Carrying amount | 1,234 | 1,356 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Carrying amount | 111,022 | 112,711 | [2] | |
Interest-bearing deposits, Carrying amount | 342,170 | 317,237 | [2] | |
FHLB advances, Carrying amount | 11,808 | 4,838 | ||
Accrued interest payable, Carrying Amount | 36 | 112 | ||
Fair value [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, Fair value | 21,274 | 25,357 | ||
Securities available-for-sale, Fair value | 75,909 | 79,948 | ||
Loans (net of allowance), Fair value | 381,224 | 348,295 | [1] | |
FHLB stock, Fair value | 3,250 | 3,799 | ||
Accrued interest receivable, Fair value | 1,234 | 1,356 | ||
Financial liabilities | ||||
Noninterest-bearing deposits, Fair value | 111,022 | 112,711 | [2] | |
Interest-bearing deposits, Fair value | 342,318 | 318,107 | [2] | |
FHLB advances, Fair value | 11,808 | 4,838 | ||
Accrued interest payable, Fair value | $36 | $112 | ||
[1] | Includes loans held for sale | |||
[2] | Includes deposits held for sale |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 1) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | $75,909 | $79,948 |
Collateralized Mortgage Obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 19,580 | 15,045 |
U.S. Government and agency obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 11,545 | 13,302 |
State and municipal obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 21,657 | 20,450 |
Corporate bonds [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 4,987 | 6,168 |
Mortgage-backed securities and other [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 18,140 | 24,007 |
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] | Collateralized Mortgage 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] | 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 |
Quoted Prices in Active Markets for Identical Assets, Level 1 [Member] | Collateralized Debt Obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 0 | |
Significant Other Observable Inputs, Level 2 [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 75,909 | 78,972 |
Significant Other Observable Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 19,580 | 15,045 |
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 | 11,545 | 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 | 21,657 | 20,450 |
Significant Other Observable Inputs, Level 2 [Member] | Corporate bonds [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 4,987 | 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 | 18,140 | 24,007 |
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] | Collateralized Mortgage Obligations [Member] | ||
Fair value measurements of assets recurring basis | ||
Securities available-for-sale | 0 | 0 |
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_Detail2
Fair Value Measurements (Details 2) (Fair Value, Inputs, Level 3 [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Balance, beginning of year | $976 |
Sales | -1,775 |
Total gains (losses): | |
Included in earnings | -141 |
Included in other comprehensive income | 940 |
Balance, end of year | $0 |
Fair_Value_Measurements_Detail3
Fair Value Measurements (Details 3) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired loans [Member] | ||
Fair value measurements of assets nonrecurring basis | ||
Securities held-to-maturity, Fair Value | $12,173 | $22,881 |
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 | 12,173 | 22,881 |
Real estate owned [Member] | ||
Fair value measurements of assets nonrecurring basis | ||
Securities held-to-maturity, Fair Value | 1,111 | 1,219 |
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 | $1,111 | $1,219 |
Parent_Company_Financial_Infor2
Parent Company Financial Information (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Assets | |||
Cash | $21,274 | $25,357 | $63,307 |
Total assets | 515,382 | 502,419 | |
Liabilities | |||
Shareholders' Equity | 47,211 | 45,264 | 48,389 |
Total liabilities and shareholders' equity | 515,382 | 502,419 | |
Parent Company [Member] | |||
Assets | |||
Cash | 948 | 948 | 13,332 |
Investment in subsidiaries | 46,283 | 44,336 | |
Total assets | 47,231 | 45,284 | |
Liabilities | |||
Other liabilities | 20 | 20 | |
Shareholders' Equity | 47,211 | 45,264 | |
Total liabilities and shareholders' equity | $47,231 | $45,284 |
Parent_Company_Financial_Infor3
Parent Company Financial Information (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Consolidated Statements of Operations [Abstract] | ||||||||||
Federal income tax | $0 | $0 | $0 | $0 | $0 | ($20) | ($254) | ($24) | $0 | ($298) |
Net income (loss) | 168 | 50 | 37 | 117 | -3,102 | -127 | 156 | 142 | 372 | -2,931 |
Parent Company [Member] | ||||||||||
Consolidated Statements of Operations [Abstract] | ||||||||||
Equity in undistributed income (loss) of subsidiaries | 372 | -2,805 | ||||||||
Other | 0 | 0 | ||||||||
Total income (loss) | 372 | -2,805 | ||||||||
Operating expenses | 0 | -126 | ||||||||
Federal income tax | 0 | 0 | ||||||||
Net income (loss) | $372 | ($2,931) |
Parent_Company_Financial_Infor4
Parent Company Financial Information (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash flows from operating activities | ||||||||||
Net income (loss) | $168 | $50 | $37 | $117 | ($3,102) | ($127) | $156 | $142 | $372 | ($2,931) |
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||||||
Net change in other assets and liabilities | -543 | -3,260 | ||||||||
Cash flows from investing activities | ||||||||||
Net cash provided by investing activities | -36,585 | -40,820 | ||||||||
Cash flows from financing activities | ||||||||||
Net cash used in financing activities | 29,789 | -1,520 | ||||||||
Net change in cash | -4,083 | -37,950 | ||||||||
Cash and cash equivalents at beginning of year | 25,357 | 63,307 | 25,357 | 63,307 | ||||||
Cash and cash equivalents at end of year | 21,274 | 25,357 | 21,274 | 25,357 | ||||||
Parent Company [Member] | ||||||||||
Cash flows from operating activities | ||||||||||
Net income (loss) | 372 | -2,931 | ||||||||
Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||||||||||
Equity in undistributed net income (loss) from subsidiaries | -372 | 2,805 | ||||||||
Net change in other assets and liabilities | 0 | -4,171 | ||||||||
Net cash used in operating activities | 0 | -4,297 | ||||||||
Cash flows from investing activities | ||||||||||
Investments in affiliates | 0 | 5 | ||||||||
Net cash provided by investing activities | 0 | 5 | ||||||||
Cash flows from financing activities | ||||||||||
Investment in Subsidiary | 0 | -8,092 | ||||||||
Net cash used in financing activities | 0 | -8,092 | ||||||||
Net change in cash | 0 | -12,382 | ||||||||
Cash and cash equivalents at beginning of year | 948 | 13,332 | 948 | 13,332 | ||||||
Cash and cash equivalents at end of year | $948 | $948 | $948 | $948 |
Details_of_Operating_Expenses_1
Details of Operating Expenses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Details Of Operating Expenses [Line Items] | ||
Bank occupancy expense | $1,876 | $1,590 |
Equipment lease | 83 | 342 |
Equipment depreciation | 233 | 303 |
Software maintenance | 961 | 824 |
Other | 39 | 10 |
Total | $3,192 | $3,069 |
Details_of_Operating_Expenses_2
Details of Operating Expenses (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | $2,823 | $2,942 |
ATM and debit cards [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | 690 | 772 |
Telephone [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | 269 | 320 |
Loan [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | 344 | 482 |
Real estate taxes [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | 325 | 281 |
OREO expenses [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | 26 | 22 |
Other operating [Member] | ||
Details Of Operating Expenses [Line Items] | ||
Other Noninterest Expense | $1,169 | $1,065 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Quarterly Financial Data [Abstract] | ||||||||||
Interest income | $4,536 | $4,278 | $4,262 | $4,304 | $4,372 | $4,316 | $4,245 | $4,146 | $17,380 | $17,079 |
Interest expense | 291 | 306 | 299 | 316 | 369 | 425 | 494 | 530 | 1,212 | 1,818 |
Net interest income | 4,245 | 3,972 | 3,963 | 3,988 | 4,003 | 3,891 | 3,751 | 3,616 | 16,168 | 15,261 |
Provision for loan losses | 150 | 0 | 0 | 0 | 3,307 | 0 | -240 | -650 | 150 | 2,417 |
Net interest income after provision for loan losses | 4,095 | 3,972 | 3,963 | 3,988 | 696 | 3,891 | 3,991 | 4,266 | 16,018 | 12,844 |
Other non-interest income | 1,132 | 1,140 | 996 | 1,192 | 1,116 | 1,192 | 1,351 | 1,308 | 4,460 | 4,967 |
Other non-interest expense | 5,059 | 5,062 | 4,922 | 5,063 | 4,914 | 5,230 | 5,440 | 5,456 | 20,106 | 21,040 |
(Loss) income before income tax expense | 168 | 50 | 37 | 117 | -3,102 | -147 | -98 | 118 | 372 | -3,229 |
Income tax benefit | 0 | 0 | 0 | 0 | 0 | -20 | -254 | -24 | 0 | -298 |
Net (loss) income | $168 | $50 | $37 | $117 | ($3,102) | ($127) | $156 | $142 | $372 | ($2,931) |
Stock and related per share data | ||||||||||
Basic and diluted (loss) earnings per common share (in dollars per share) | $0.02 | $0.01 | $0.01 | $0.02 | ($0.43) | ($0.02) | $0.02 | $0.02 | $0.05 | ($0.41) |
Basic weighted average common shares outstanding (in shares) | 7,196,404 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,192,350 | 7,193,372 | 7,192,350 |
Diluted weighted average common shares outstanding (in shares) | 7,232,961 | 7,249,194 | 7,250,702 | 7,244,716 | 7,192,350 | 7,192,350 | 7,227,901 | 7,223,144 | 7,232,388 | 7,192,350 |