Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 30, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | SHORE BANCSHARES INC | |
Entity Central Index Key | 1,035,092 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | SHBI | |
Entity Common Stock, Shares Outstanding | 12,644,743 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 14,566 | $ 15,080 |
Interest-bearing deposits with other banks | 58,507 | 54,223 |
Federal funds sold | 553 | 4,508 |
Cash and cash equivalents | 73,626 | 73,811 |
Investment securities: | ||
Available for sale, at fair value | 206,735 | 212,165 |
Held to maturity, at amortized cost - fair value of $4,108 (2016) and $4,243 (2015) | 3,996 | 4,191 |
Loans | 798,921 | 795,114 |
Less: allowance for credit losses | (8,309) | (8,316) |
Loans, net | 790,612 | 786,798 |
Premises and equipment, net | 16,813 | 16,864 |
Goodwill | 11,931 | 11,931 |
Other intangible assets, net | 1,178 | 1,211 |
Other real estate owned, net | 3,896 | 4,252 |
Other assets | 22,388 | 23,920 |
TOTAL ASSETS | 1,131,175 | 1,135,143 |
Deposits: | ||
Noninterest-bearing | 229,646 | 229,686 |
Interest-bearing | 740,087 | 745,778 |
Total deposits | 969,733 | 975,464 |
Short-term borrowings | 5,872 | 6,672 |
Other liabilities | 5,461 | 6,040 |
TOTAL LIABILITIES | 981,066 | 988,176 |
STOCKHOLDERS’ EQUITY | ||
Common stock, par value $.01 per share; shares authorized - 35,000,000; shares issued and outstanding - 12,640,134 (2016) and 12,631,160 (2015) | 126 | 126 |
Additional paid in capital | 63,929 | 63,815 |
Retained earnings | 85,178 | 83,097 |
Accumulated other comprehensive income (loss) | 876 | (71) |
TOTAL STOCKHOLDERS’ EQUITY | 150,109 | 146,967 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,131,175 | $ 1,135,143 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Securities held to maturity, estimated fair value (in dollars) | $ 4,108 | $ 4,243 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 35,000,000 | 35,000,000 |
Common Stock, Shares, Issued | 12,640,134 | 12,631,160 |
Common stock, shares outstanding | 12,640,134 | 12,631,160 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
INTEREST INCOME | ||
Interest and fees on loans | $ 8,961 | $ 8,491 |
Interest and dividends on investment securities: | ||
Taxable | 870 | 924 |
Tax-exempt | 2 | 3 |
Interest on federal funds sold | 3 | 1 |
Interest on deposits with other banks | 72 | 26 |
Total interest income | 9,908 | 9,445 |
INTEREST EXPENSE | ||
Interest on deposits | 661 | 901 |
Interest on short-term borrowings | 4 | 5 |
Total interest expense | 665 | 906 |
NET INTEREST INCOME | 9,243 | 8,539 |
Provision for credit losses | 450 | 650 |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 8,793 | 7,889 |
NONINTEREST INCOME | ||
Service charges on deposit accounts | 813 | 634 |
Trust and investment fee income | 351 | 469 |
Insurance agency commissions | 2,759 | 2,475 |
Other noninterest income | 618 | 507 |
Total noninterest income | 4,541 | 4,085 |
NONINTEREST EXPENSE | ||
Salaries and wages | 4,477 | 4,313 |
Employee benefits | 1,114 | 1,156 |
Occupancy expense | 613 | 626 |
Furniture and equipment expense | 235 | 255 |
Data processing | 809 | 783 |
Directors’ fees | 104 | 123 |
Amortization of other intangible assets | 33 | 33 |
FDIC insurance premium expense | 282 | 384 |
Write-downs of other real estate owned | 7 | 27 |
Legal and professional fees | 385 | 725 |
Other noninterest expenses | 1,280 | 1,279 |
Total noninterest expense | 9,339 | 9,704 |
INCOME BEFORE INCOME TAXES | 3,995 | 2,270 |
Income tax expense | 1,535 | 861 |
NET INCOME | $ 2,460 | $ 1,409 |
Basic net income per common share (in dollars per share) | $ 0.19 | $ 0.11 |
Diluted net income per common share (in dollars per share) | 0.19 | 0.11 |
Dividends paid per common share (in dollars per share) | $ 0.03 | $ 0 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 2,460 | $ 1,409 |
Securities available for sale: | ||
Unrealized holding gains on available-for-sale securities | 1,589 | 1,227 |
Tax effect | (642) | (495) |
Net of tax amount | 947 | 732 |
Total other comprehensive income | 947 | 732 |
Comprehensive income | $ 3,407 | $ 2,141 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balances at Dec. 31, 2014 | $ 140,469 | $ 126 | $ 63,532 | $ 76,495 | $ 316 |
Net income | 1,409 | 0 | 0 | 1,409 | 0 |
Unrealized gains on available-for-sale securities, net of taxes | 732 | 0 | 0 | 0 | 732 |
Stock-based compensation | 136 | 0 | 136 | 0 | 0 |
Balances at Mar. 31, 2015 | 142,746 | 126 | 63,668 | 77,904 | 1,048 |
Balances at Dec. 31, 2015 | 146,967 | 126 | 63,815 | 83,097 | (71) |
Net income | 2,460 | 0 | 0 | 2,460 | 0 |
Unrealized gains on available-for-sale securities, net of taxes | 947 | 0 | 0 | 0 | 947 |
Common shares issued for employee stock- based awards | 3 | 0 | 3 | 0 | 0 |
Stock-based compensation | 111 | 0 | 111 | 0 | 0 |
Cash dividends paid | (379) | 0 | 0 | (379) | 0 |
Balances at Mar. 31, 2016 | $ 150,109 | $ 126 | $ 63,929 | $ 85,178 | $ 876 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 2,460 | $ 1,409 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for credit losses | 450 | 650 |
Depreciation and amortization | 611 | 621 |
Discount accretion on debt securities | (7) | (18) |
Stock-based compensation expense | 111 | 136 |
Deferred income tax expense | 1,258 | 618 |
Losses on disposals of premises and equipment | 2 | 0 |
Losses on sales of other real estate owned | 11 | 48 |
Write-downs of other real estate owned | 7 | 27 |
Net changes in: | ||
Accrued interest receivable | (144) | 59 |
Other assets | (286) | (399) |
Accrued interest payable | (9) | (17) |
Other liabilities | (570) | (594) |
Net cash provided by operating activities | 3,894 | 2,540 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from maturities and principal payments of investment securities available for sale | 9,752 | 8,697 |
Purchases of investment securities available for sale | (3,006) | (11,736) |
Proceeds from maturities and principal payments of investment securities held to maturity | 192 | 112 |
Net change in loans | (4,265) | (11,904) |
Purchases of premises and equipment | (183) | (678) |
Proceeds from sales of other real estate owned | 338 | 644 |
Net cash provided by (used in) investing activities | 2,828 | (14,865) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Noninterest-bearing deposits | (40) | 7,704 |
Interest-bearing deposits | (5,691) | (15,934) |
Short-term borrowings | (800) | 290 |
Proceeds from the issuance of common stock | 3 | 0 |
Common stock dividends paid | (379) | 0 |
Net cash used in financing activities | (6,907) | (7,940) |
Net decrease in cash and cash equivalents | (185) | (20,265) |
Cash and cash equivalents at beginning of period | 73,811 | 96,223 |
Cash and cash equivalents at end of period | 73,626 | 75,958 |
Supplemental cash flows information: | ||
Interest paid | 672 | 923 |
Income taxes paid | 235 | 95 |
Transfers from loans to other real estate owned | $ 0 | $ 497 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | The consolidated financial statements include the accounts of Shore Bancshares, Inc. and its subsidiaries with all significant intercompany transactions eliminated. The consolidated financial statements conform to accounting principles generally accepted in the United States of America (“GAAP”) and to prevailing practices within the banking industry. The accompanying interim financial statements are unaudited; however, in the opinion of management all adjustments necessary to present fairly the consolidated financial position at March 31, 2016, the consolidated results of operations and comprehensive income for the three months ended March 31, 2016 and 2015, and changes in stockholders’ equity and cash flows for the three months ended March 31, 2016 and 2015, have been included. All such adjustments are of a normal recurring nature. The amounts as of December 31, 2015 were derived from the 2015 audited financial statements. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any other interim period or for the full year. This Quarterly Report on Form 10-Q should be read in conjunction with the Annual Report of Shore Bancshares, Inc. on Form 10-K for the year ended December 31, 2015. For purposes of comparability, certain reclassifications have been made to amounts previously reported to conform with the current period presentation. When used in these notes, the term “the Company” refers to Shore Bancshares, Inc. and, unless the context requires otherwise, its consolidated subsidiaries ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date ASU 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." Compensation - Stock Compensation ASU No. 2015-05, “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” ASU No. 2016-01, “Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. ASU No. 2016-02, “Leases (Topic 842).” Elements of Financial Statements ASU No. 2016-09, “Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 2 Earnings Per Share Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). For the Three Months Ended March 31, (In thousands, except per share data) 2016 2015 Net income $ 2,460 $ 1,409 Weighted average shares outstanding - Basic 12,635 12,625 Dilutive effect of common stock equivalents 14 8 Weighted average shares outstanding - Diluted 12,649 12,633 Earnings per common share - Basic $ 0.19 $ 0.11 Earnings per common share - Diluted $ 0.19 $ 0.11 There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three months ended March 31, 2016 and 2015. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3 Investment Securities Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available-for-sale securities: March 31, 2016 U.S. Treasury $ 5,045 $ 5 $ - $ 5,050 U.S. Government agencies 49,490 163 145 49,508 Mortgage-backed 150,090 1,713 278 151,525 Equity 641 11 - 652 Total $ 205,266 $ 1,892 $ 423 $ 206,735 December 31, 2015 U.S. Treasury $ 5,078 $ 1 $ - $ 5,079 U.S. Government agencies 49,630 89 190 49,529 Mortgage-backed 156,939 639 662 156,916 Equity 637 4 - 641 Total $ 212,284 $ 733 $ 852 $ 212,165 Held-to-maturity securities: March 31, 2016 U.S. Government agencies $ 2,380 $ - $ 9 $ 2,371 States and political subdivisions 1,616 121 - 1,737 Total $ 3,996 $ 121 $ 9 $ 4,108 December 31, 2015 U.S. Government agencies $ 2,575 $ - $ 60 $ 2,515 States and political subdivisions 1,616 112 - 1,728 Total $ 4,191 $ 112 $ 60 $ 4,243 Less than More than Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Available-for-sale securities: U.S. Government agencies $ 13,998 $ 19 $ - $ 126 $ 13,998 $ 145 Mortgage-backed 12,460 45 17,476 233 29,936 278 Total $ 26,458 $ 64 $ 17,476 $ 359 $ 43,934 $ 423 Held-to-maturity securities: U.S. Government agencies $ 2,371 $ 9 $ - $ - $ 2,371 $ 9 Less than More than Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2015 Available-for-sale securities: U.S. Government agencies $ 18,981 $ 57 $ - $ 133 $ 18,981 $ 190 Mortgage-backed 43,881 328 21,263 334 65,144 662 Total $ 62,862 $ 385 $ 21,263 $ 467 $ 84,125 $ 852 Held-to-maturity securities: U.S. Government agencies $ - $ - $ 2,515 $ 60 $ 2,515 $ 60 All of the securities with unrealized losses in the portfolio have modest duration risk, low credit risk, and minimal losses when compared to total amortized cost. The unrealized losses on debt securities that exist are the result of market changes in interest rates since original purchase. Because the Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be at maturity for debt securities, the Company considers the unrealized losses to be temporary. Available for sale Held to maturity Amortized Estimated Amortized Estimated (Dollars in thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 17,665 $ 17,694 $ - $ - Due after one year through five years 34,086 34,149 711 753 Due after five years through ten years 10,715 10,766 402 450 Due after ten years 142,159 143,474 2,883 2,905 204,625 206,083 3,996 4,108 Equity securities 641 652 - - Total $ 205,266 $ 206,735 $ 3,996 $ 4,108 The maturity dates for debt securities are determined using contractual maturity dates. |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 Loans and Allowance for Credit Losses The Company makes residential mortgage, commercial and consumer loans to customers primarily in Talbot County, Queen Anne’s County, Kent County, Caroline County and Dorchester County in Maryland and in Kent County, Delaware. (Dollars in thousands) March 31, December 31, Construction $ 78,244 $ 85,632 Residential real estate 310,575 307,063 Commercial real estate 334,754 330,253 Commercial 67,735 64,911 Consumer 7,613 7,255 Total loans 798,921 795,114 Allowance for credit losses (8,309) (8,316) Total loans, net $ 790,612 $ 786,798 Loans are stated at their principal amount outstanding net of any purchase premiums, deferred fees and costs. Interest income on loans is accrued at the contractual rate based on the principal amount outstanding. Fees charged and costs capitalized for originating loans are being amortized substantially on the interest method over the term of the loan. A loan is placed on nonaccrual (i.e., interest income is no longer accrued) when it is specifically determined to be impaired or when principal or interest is delinquent for 90 days or more, unless the loan is well secured and in the process of collection. Any unpaid interest previously accrued on those loans is reversed from income. Interest payments received on nonaccrual loans are applied as a reduction of the loan principal balance unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current and future payments are reasonably assured. A loan is considered impaired if it is probable that the Company will not collect all principal and interest payments according to the loan’s contractual terms. An impaired loan may show deficiencies in the borrower’s overall financial condition, payment history, support available from financial guarantors and/or the fair market value of collateral. The impairment of a loan is measured at the present value of expected future cash flows using the loan’s effective interest rate, or at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. Generally, the Company measures impairment on such loans by reference to the fair value of the collateral. Once the amount of impairment has been determined, the uncollectible portion is charged off. Income on impaired loans is recognized on a cash basis, and payments are first applied against the principal balance outstanding (i.e., placing impaired loans on nonaccrual status). Generally, interest income is not recognized on impaired loans unless the likelihood of further loss is remote. The allowance for credit losses may include specific reserves related to impaired loans. Specific reserves remain until charge offs are made. Impaired loans do not include groups of smaller balance homogenous loans such as residential mortgage and consumer installment loans that are evaluated collectively for impairment. Reserves for probable credit losses related to these loans are based on historical loss ratios and are included in the formula portion of the allowance for credit losses. See additional discussion under the caption “Critical Accounting Policies” in Management’s Discussion and Analysis of Financial Condition and Results of Operations. A loan is considered a troubled debt restructuring (“TDR”) if a borrower is experiencing financial difficulties and a creditor has granted a concession. Concessions may include interest rate reductions or below market interest rates, principal forgiveness, restructuring amortization schedules and other actions intended to minimize potential losses. Loans are identified to be restructured when signs of impairment arise such as borrower interest rate reduction request, slowness to pay, or when an inability to repay becomes evident. The terms being offered are evaluated to determine if they are more liberal than those that would be indicated by policy or industry standards for similar, untroubled credits. In those situations where the terms or the interest rates are considered to be more favorable than industry standards or the current underwriting guidelines of the Company’s banking subsidiaries, the loan is classified as a TDR. All loans designated as TDRs are considered impaired loans and may be on either accrual or nonaccrual status. In instances where the loan has been placed on nonaccrual status, six consecutive months of timely payments are required prior to returning the loan to accrual status. All loans classified as TDRs which are restructured and accrue interest under revised terms require a full and comprehensive review of the borrower’s financial condition, capacity for repayment, realistic assessment of collateral values, and the assessment of risk entered into any workout agreement. Current financial information on the borrower, guarantor, and underlying collateral is analyzed to determine if it supports the ultimate collection of principal and interest. For commercial loans, the cash flows are analyzed, both for the underlying project and globally. For consumer loans, updated salary, credit history and cash flow information is obtained. Current market conditions are also considered. Following a full analysis, the determination of the appropriate loan structure is made. In the normal course of banking business, risks related to specific loan categories are as follows: Construction loans Construction loans generally finance the construction of residential real estate for builders and individuals for single family dwellings. In addition, the bank periodically finances the construction of commercial projects. Credit risk factors include the borrower’s ability to successfully complete the construction on time and within budget, changing market conditions which could affect the value and marketability of projects, changes in the borrower’s ability or willingness to repay the loan and potentially rising interest rates which can impact both the borrower’s ability to repay and the collateral value. Residential real estate Residential real estate loans are typically made to consumers and are secured by residential real estate. Credit risk arises from the borrower’s continuing financial stability, which can be adversely impacted by job loss, divorce, illness, or personal bankruptcy, among other factors. Also impacting credit risk would be a shortfall in the value of the residential real estate in relation to the outstanding loan balance in the event of a default or subsequent liquidation of the real estate collateral. Commercial real estate Commercial real estate loans consist of both loans secured by owner occupied properties and non-owner occupied where an established banking relationship exists and involves investment properties for warehouse, retail, and office space with a history of occupancy and cash flow. These loans are subject to adverse changes in the local economy and commercial real estate markets. Credit risk associated with owner occupied properties arises from the borrower’s financial stability and the ability of the borrower and the business to repay the loan. Non-owner occupied properties carry the risk of a tenant’s deteriorating credit strength, lease expirations in soft markets and sustained vacancies which can adversely impact cash flow. Commercial Commercial loans are secured or unsecured loans for business purposes. Loans are typically secured by accounts receivable, inventory, equipment and/or other assets of the business. Credit risk arises from the successful operation of the business which may be affected by competition, rising interest rates, regulatory changes and adverse conditions in the local and regional economy. Consumer Consumer loans include home equity loans and lines, installment loans and personal lines of credit. Credit risk is similar to residential real estate loans above as it is subject to the borrower’s continuing financial stability and the value of the collateral securing the loan. (Dollars in thousands) Construction Residential Commercial Commercial Consumer Unallocated Total March 31, 2016 Loans individually evaluated for impairment $ 10,590 $ 7,933 $ 7,880 $ 154 $ 121 $ - $ 26,678 Loans collectively evaluated for impairment 67,654 302,642 326,874 67,581 7,492 - 772,243 Total loans $ 78,244 $ 310,575 $ 334,754 $ 67,735 $ 7,613 $ - $ 798,921 Allowance for credit losses allocated to: Loans individually evaluated for impairment $ 783 $ 189 $ 552 $ - $ - $ - $ 1,524 Loans collectively evaluated for impairment 970 1,825 2,705 585 177 523 6,785 Total allowance for credit losses $ 1,753 $ 2,014 $ 3,257 $ 585 $ 177 $ 523 $ 8,309 (Dollars in thousands) Construction Residential Commercial Commercial Consumer Unallocated Total December 31, 2015 Loans individually evaluated for impairment $ 11,598 $ 7,945 $ 7,762 $ 161 $ 122 $ - $ 27,588 Loans collectively evaluated for impairment 74,034 299,118 322,491 64,750 7,133 - 767,526 Total loans $ 85,632 $ 307,063 $ 330,253 $ 64,911 $ 7,255 $ - $ 795,114 Allowance for credit losses allocated to: Loans individually evaluated for impairment $ 619 $ 435 $ 340 $ - $ 7 $ - $ 1,401 Loans collectively evaluated for impairment 1,027 1,746 2,659 558 149 776 6,915 Total allowance for credit losses $ 1,646 $ 2,181 $ 2,999 $ 558 $ 156 $ 776 $ 8,316 (Dollars in thousands) Unpaid Recorded Recorded Related Quarter-to- Interest March 31, 2016 Impaired nonaccrual loans: Construction $ 11,167 $ 3,724 $ 2,874 $ 755 $ 7,216 $ - Residential real estate 2,600 2,079 199 77 2,292 - Commercial real estate 3,854 2,774 - - 2,559 - Commercial 172 154 - - 158 - Consumer 128 121 - - 121 - Total 17,921 8,852 3,073 832 12,346 - Impaired accruing TDRs: Construction 3,992 3,194 798 28 4,041 25 Residential real estate 5,655 2,667 2,988 112 5,669 55 Commercial real estate 5,106 1,099 4,007 552 5,363 46 Commercial - - - - - - Consumer - - - - - - Total 14,753 6,960 7,793 692 15,073 126 Total impaired loans: Construction 15,159 6,918 3,672 783 11,257 25 Residential real estate 8,255 4,746 3,187 189 7,961 55 Commercial real estate 8,960 3,873 4,007 552 7,922 46 Commercial 172 154 - - 158 - Consumer 128 121 - - 121 - Total $ 32,674 $ 15,812 $ 10,866 $ 1,524 $ 27,419 $ 126 March 31, 2015 (Dollars in thousands) Unpaid Recorded Recorded Related Quarter-to- Interest December 31, 2015 Impaired nonaccrual loans: Construction $ 11,850 $ 4,647 $ 2,882 $ 588 $ 7,630 $ - Residential real estate 2,563 1,773 487 208 3,360 - Commercial real estate 2,988 1,813 209 9 1,401 - Commercial 175 161 - - 163 - Consumer 128 98 23 7 121 - Total 17,704 8,492 3,601 812 12,675 - Impaired accruing TDRs: Construction 4,069 3,266 803 31 4,073 84 Residential real estate 5,686 2,380 3,306 227 6,338 312 Commercial real estate 5,740 1,702 4,038 331 5,689 254 Commercial - - - - - 1 Consumer - - - - - - Total 15,495 7,348 8,147 589 16,100 651 Total impaired loans: Construction 15,919 7,913 3,685 619 11,703 84 Residential real estate 8,249 4,153 3,793 435 9,698 312 Commercial real estate 8,728 3,515 4,247 340 7,090 254 Commercial 175 161 - - 163 1 Consumer 128 98 23 7 121 - Total $ 33,199 $ 15,840 $ 11,748 $ 1,401 $ 28,775 $ 651 1/1/16 Reclassification/ 3/31/16 TDR New Disbursements Charge Transfers TDR Related (Dollars in thousands) Balance TDRs (Payments) offs In/(Out) Payoffs Balance Allowance For the three months ended 3/31/2016 Accruing TDRs Construction $ 4,069 $ - $ (77) $ - $ - $ - $ 3,992 $ 28 Residential Real Estate 5,686 - (31) - - - 5,655 112 Commercial Real Estate 5,740 - (517) (117) - - 5,106 552 Commercial - - - - - - - - Consumer - - - - - - - - Total $ 15,495 $ - $ (625) $ (117) $ - $ - $ 14,753 $ 692 Nonaccrual TDRs Construction $ 4,960 $ 2,570 $ (691) $ (241) $ - $ - $ 6,598 $ 755 Residential Real Estate 445 - (288) - - - 157 11 Commercial Real Estate - - - - - - - - Commercial - - - - - - - - Consumer 23 - - - - - 23 - Total $ 5,428 $ 2,570 $ (979) $ - $ - $ - $ 6,778 $ 766 Total TDRs $ 20,923 $ 2,570 $ (1,604) $ (358) $ - $ - $ 21,531 $ 1,458 1/1/15 Reclassification/ 3/31/15 TDR New Disbursements Transfers TDR Related (Dollars in thousands) Balance TDRs (Payments) Charge offs In/(Out) Payoffs Balance Allowance For the three months ended 3/31/2015 Accruing TDRs Construction $ 4,022 $ - $ (6) $ - $ - $ - $ 4,016 $ 39 Residential Real Estate 6,368 - (46) - - - 6,322 255 Commercial Real Estate 6,237 - 24 - - - 6,261 23 Commercial 47 - (2) - - - 45 - Consumer - - - - - - - - Total $ 16,674 $ - $ (30) $ - $ - $ - $ 16,644 $ 317 Nonaccrual TDRs Construction $ 3,321 $ - $ (7) $ (363) $ 2,911 $ - $ 5,862 $ 690 Residential Real Estate 3,382 - (9) - (2,911) - 462 - Commercial Real Estate 346 - (2) (40) (238) - 66 - Commercial - - - - - - - - Consumer 25 - (1) - - - 24 - Total $ 7,074 $ - $ (19) $ (403) $ (238) $ - $ 6,414 $ 690 Total TDRs $ 23,748 $ - $ (49) $ (403) $ (238) $ - $ 23,058 $ 1,007 Premodification Postmodification outstanding outstanding Number of recorded recorded Related (Dollars in thousands) contracts investment investment allowance TDRs: For the three months ended March 31, 2016 Construction 1 $ 2,570 $ 2,570 $ - Residential real estate - - - - Commercial real estate - - - - Commercial - - - - Consumer - - - - Total 1 $ 2,570 $ 2,570 $ - For the three months ended March 31, 2015 Construction - $ - $ - $ - Residential real estate - - - - Commercial real estate - - - - Commercial - - - - Consumer - - - - Total - $ - $ - $ - Number of Recorded Related (Dollars in thousands) contracts investment allowance TDRs that subsequently defaulted: For the three months ended March 31, 2016 Construction 1 $ 241 $ - Residential real estate - - - Commercial real estate 1 117 - Commercial - - - Consumer - - - Total 2 $ 358 $ - TDRs that subsequently defaulted: For the three months ended March 31, 2015 Construction 3 $ 363 $ - Residential real estate - - - Commercial real estate 1 40 - Commercial - - - Consumer - - - Total 4 $ 403 $ - Management uses risk ratings as part of its monitoring of the credit quality in the Company’s loan portfolio. Loans that are identified as special mention, substandard or doubtful are adversely rated. They are assigned higher risk ratings than favorably rated loans in the calculation of the formula portion of the allowance for credit losses. Special (Dollars in thousands) Pass/Performing mention Substandard Doubtful Total March 31, 2016 Construction $ 63,823 $ 3,845 $ 10,576 $ - $ 78,244 Residential real estate 294,844 8,735 6,996 - 310,575 Commercial real estate 307,769 17,158 9,827 - 334,754 Commercial 66,638 704 393 - 67,735 Consumer 7,468 24 121 - 7,613 Total $ 740,542 $ 30,466 $ 27,913 $ - $ 798,921 Special (Dollars in thousands) Pass/Performing mention Substandard Doubtful Total December 31, 2015 Construction $ 70,214 $ 3,903 $ 11,515 $ - $ 85,632 Residential real estate 290,857 8,837 7,369 - 307,063 Commercial real estate 302,438 18,699 9,116 - 330,253 Commercial 63,628 1,075 208 - 64,911 Consumer 7,107 26 122 - 7,255 Total $ 734,244 $ 32,540 $ 28,330 $ - $ 795,114 Accruing 30-59 60-89 90 days days days past or more Total past (Dollars in thousands) Current past due due past due due Nonaccrual Total March 31, 2016 Construction $ 71,618 $ 28 $ - $ - $ 28 $ 6,598 $ 78,244 Residential real estate 303,339 2,113 2,823 22 4,958 2,278 310,575 Commercial real estate 330,129 1,591 260 - 1,851 2,774 334,754 Commercial 67,525 46 - 10 56 154 67,735 Consumer 7,461 26 2 3 31 121 7,613 Total $ 780,072 $ 3,804 $ 3,085 $ 35 $ 6,924 $ 11,925 $ 798,921 Percent of total loans 97.6 % 0.5 % 0.4 % - % 0.9 % 1.5 % 100 % Accruing 30-59 60-89 90 days or days days past more past Total past (Dollars in thousands) Current past due due due due Nonaccrual Total December 31, 2015 Construction $ 78,082 $ 21 $ - $ - $ 21 $ 7,529 $ 85,632 Residential real estate 300,563 2,139 2,102 - 4,241 2,259 307,063 Commercial real estate 327,370 - 861 - 861 2,022 330,253 Commercial 64,670 49 31 - 80 161 64,911 Consumer 7,107 13 6 7 26 122 7,255 Total $ 777,792 $ 2,222 $ 3,000 $ 7 $ 5,229 $ 12,093 $ 795,114 Percent of total loans 97.8 % 0.3 % 0.4 % - % 0.7 % 1.5 % 100 % Management evaluates the adequacy of the allowance for credit losses at least quarterly and adjusts the provision for credit losses based on this analysis. The following tables provide a summary of the activity in the allowance for credit losses allocated by loan class for the three months ended March 31, 2016 and 2015. Residential Commercial (Dollars in thousands) Construction real estate real estate Commercial Consumer Unallocated Total For the three months ended March 31, 2016 Allowance for credit losses: Beginning balance $ 1,646 $ 2,181 $ 2,999 $ 558 $ 156 $ 776 $ 8,316 Charge-offs (241) (16) (238) (67) (8) - (570) Recoveries 6 34 - 65 8 - 113 Net charge-offs (235) 18 (238) (2) - - (457) Provision 342 (185) 496 29 21 (253) 450 Ending balance $ 1,753 $ 2,014 $ 3,257 $ 585 $ 177 $ 523 $ 8,309 Residential Commercial (Dollars in thousands) Construction real estate real estate Commercial Consumer Unallocated Total For the three months ended March 31, 2015 Allowance for credit losses: Beginning balance $ 1,303 $ 2,834 $ 2,379 $ 448 $ 229 $ 502 $ 7,695 Charge-offs (363) (114) (40) (124) (10) - (651) Recoveries 3 23 13 47 18 - 104 Net charge-offs (360) (91) (27) (77) 8 - (547) Provision 941 (619) (13) 70 (57) 328 650 Ending balance $ 1,884 $ 2,124 $ 2,339 $ 441 $ 180 $ 830 $ 7,798 Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $ 581 |
Other Assets
Other Assets | 3 Months Ended |
Mar. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets Disclosure [Text Block] | Note 5 Other Assets (Dollars in thousands) March 31, 2016 December 31, 2015 Nonmarketable investment securities $ 1,650 $ 1,621 Accrued interest receivable 2,602 2,458 Deferred income taxes 10,234 12,132 Prepaid expenses 1,605 1,039 Other assets 6,297 6,670 Total $ 22,388 $ 23,920 (Dollars in thousands) March 31, December 31, Deferred tax assets: Allowance for credit losses $ 3,318 $ 3,316 Reserve for off-balance sheet commitments 121 121 Net operating loss carry forward 7,413 9,069 Write-downs of other real estate owned 303 308 Deferred income 1,220 1,155 Unrealized gains on available-for-sale securities - 48 Accrued expenses 928 946 AMT carryover 395 - Other 185 191 Total deferred tax assets 13,883 15,154 Deferred tax liabilities: Depreciation 243 271 Amortization on loans FMV adjustment 192 140 Purchase accounting adjustments 2,036 1,988 Deferred capital gain on branch sale 409 411 Unrealized gains on available-for-sale securities 593 - Other 176 212 Total deferred tax liabilities 3,649 3,022 Net deferred tax assets $ 10,234 $ 12,132 The Company’s deferred tax assets consist of net operating loss carryovers that will be used to offset taxable income in future periods through their statutory period of 20 years 18 years 4.0 11.5 Based on the aforementioned considerations, the Company has concluded that the predominance of observable positive evidence outweighs the future potential of negative evidence and therefore it is more likely than not that the Company will be able to realize in the future all of the net deferred tax assets. |
Other Liabilities
Other Liabilities | 3 Months Ended |
Mar. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities Disclosure [Text Block] | Note 6 Other Liabilities The Company had the following other liabilities at March 31, 2016 and December 31, 2015. (Dollars in thousands) March 31, 2016 December 31, 2015 Accrued interest payable $ 97 $ 106 Other accounts payable 2,207 2,775 Deferred compensation liability 1,462 1,464 Other liabilities 1,695 1,695 Total $ 5,461 $ 6,040 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 7 - Stock-Based Compensation As of March 31, 2016, the Company maintained the Shore Bancshares, Inc. 2006 Stock and Incentive Compensation Plan (“2006 Equity Plan”) under which it may issue shares of common stock or grant other equity-based awards. Stock-based awards granted to date generally are time-based, vest in equal installments on each anniversary of the grant date over a three- to five-year period of time, and, in the case of stock options, expire 7 years from the grant date. On July 1, 2015, the Company's board of directors (the "Board") also adopted a form of performance share/restricted stock unit award agreement that will be used to grant performance equity incentive awards pursuant to and subject to the provisions of the 2006 Equity Plan. Stock-based compensation expense is recognized ratably over the requisite service period for all awards, is based on the grant-date fair value and reflects forfeitures as they occur. For the Three Months Ended March 31, (Dollars in thousands) 2016 2015 Stock-based compensation expense $ 111 $ 136 Proceeds from issuance of common stock 3 - March 31, (Dollars in thousands) 2016 2015 Unrecognized stock-based compensation expense $ 70 $ 102 Weighted average period unrecognized expense is expected to be recognized 0.6 years 0.8 years Number Weighted Average Grant of Shares Date Fair Value March 31, 2016 Nonvested at beginning of period 12,488 $ 8.74 Granted 8,524 11.16 Vested (13,467) 9.49 Cancelled - - Nonvested at end of period 7,545 $ 10.16 Number Weighted Average Grant of Shares Date Fair Value March 31, 2015 Nonvested at beginning of period 14,251 $ 8.33 Granted 6,763 9.18 Vested (8,680) 8.55 Cancelled - - Nonvested at end of period 12,334 $ 8.22 The fair value of restricted stock awards that vested during the first three months of 2016 and 2015 was $ 128 74 Weighted Number Average of Shares Exercise Price March 31, 2016 Outstanding at beginning of period 61,327 $ 8.05 Granted 12,443 11.12 Exercised (450) 6.64 Expired/Cancelled - - Outstanding at end of period 73,320 $ 8.58 Exercisable at end of period 67,099 $ 8.35 Weighted Number Average of Shares Exercise Price March 31, 2015 Outstanding at beginning of period 27,108 $ 6.64 Granted 34,219 3.44 Exercised - - Expired/Cancelled - - Outstanding at end of period 61,327 $ 4.85 Exercisable at end of period 27,108 $ 6.64 The weighted average fair value of stock options granted during 2016 was $ 5.03 Dividend yield 0.73 % Expected volatility 38.60 % Risk-free interest rate 1.75 % Expected contract life (in years) 10 years At the end of the first quarter of 2016, the aggregate intrinsic value of the options outstanding under the 2006 Equity Plan was $ 249 11.98 243 2 11.35 5.9 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Note 8 Accumulated Other Comprehensive Income The Company records unrealized holding gains (losses), net of tax, on investment securities available for sale as accumulated other comprehensive income (loss), a separate component of stockholders’ equity. (Dollars in thousands) Accumulated net Total accumulated Balance, December 31, 2015 $ (71) $ (71) Other comprehensive income 947 947 Balance, March 31, 2016 $ 876 $ 876 Balance, December 31, 2014 $ 316 $ 316 Other comprehensive income 732 732 Balance, March 31, 2015 $ 1,048 $ 1,048 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 9 Fair Value Measurements Accounting guidance under GAAP defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This accounting guidance 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 Company uses fair value measurements to record fair value adjustments to certain assets and liabilities. Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans, loans held for sale and other real estate owned (foreclosed assets). These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. Under fair value accounting guidance, assets and liabilities are grouped at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine their fair values. These hierarchy levels are: Level 1 inputs Unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2 inputs Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Below is a discussion on the Company’s assets measured at fair value on a recurring basis. Investment Securities Available for Sale Fair value measurement for investment securities available for sale is based on quoted prices from an independent pricing service. The fair value measurements consider observable data that may include present value of future cash flows, prepayment assumptions, credit loss assumptions and other factors. The Company classifies its investments in U.S. Treasury securities as Level 1 in the fair value hierarchy, and it classifies its investments in U.S. Government agencies securities, mortgage-backed securities issued or guaranteed by U.S. Government sponsored entities, and equity securities as Level 2. Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) March 31, 2016 Securities available for sale: U.S. Treasury $ 5,050 $ 5,050 $ - $ - U.S. Government agencies 49,508 - 49,508 - Mortgage-backed 151,525 - 151,525 - Equity 652 - 652 - Total $ 206,735 $ 5,050 $ 201,685 $ - Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Securities available for sale: U.S. Treasury $ 5,079 $ 5,079 $ - $ - U.S. Government agencies 49,529 - 49,529 - Mortgage-backed 156,916 - 156,916 - Equity 641 - 641 - Total $ 212,165 $ 5,079 $ 207,086 $ - Below is a discussion on the Company’s assets measured at fair value on a nonrecurring basis. Loans The Company does not record loans at fair value on a recurring basis; however, from time to time, a loan is considered impaired and a valuation allowance may be established if there are losses associated with the loan. Loans are considered impaired if it is probable that payment of interest and principal will not be made in accordance with contractual terms. The fair value of impaired loans can be estimated using one of several methods, including the collateral value, market value of similar debt, liquidation value and discounted cash flows. At March 31, 2016 and December 31, 2015, substantially all impaired loans were evaluated based on the fair value of the collateral and were classified as Level 2 in the fair value hierarchy. Other Real Estate and Other Assets Owned (Foreclosed Assets) Foreclosed assets are adjusted for fair value upon transfer of loans to foreclosed assets. Subsequently, foreclosed assets are carried at fair value less estimated costs to sell. Fair value is based on independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. At March 31, 2016 and December 31, 2015, foreclosed assets were classified as Level 2 in the fair value hierarchy. Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) March 31, 2016 Impaired loans Construction $ 9,807 $ - $ 9,807 $ - Residential real estate 7,744 - 7,744 - Commercial real estate 7,328 - 7,328 - Commercial 154 - 154 - Consumer 121 - 121 - Total impaired loans 25,154 - 25,154 - Other real estate owned 3,896 - 3,896 - Total assets measured at fair value on a nonrecurring basis $ 29,050 $ - $ 29,050 $ - Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Impaired loans Construction $ 10,979 $ - $ 10,979 $ - Residential real estate 7,510 - 7,510 - Commercial real estate 7,422 - 7,422 - Commercial 161 - 161 - Consumer 115 - 115 - Total impaired loans 26,187 - 26,187 - Other real estate owned 4,252 - 4,252 - Total assets measured at fair value on a nonrecurring basis $ 30,439 $ - $ 30,439 $ - The following information relates to the estimated fair values of financial assets and liabilities that are reported in the Company’s consolidated balance sheets at their carrying amounts. The discussion below describes the methods and assumptions used to estimate the fair value of each class of financial asset and liability for which it is practicable to estimate that value. Cash and Cash Equivalents Cash equivalents include interest-bearing deposits with other banks and federal funds sold. For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Investment Securities Held to Maturity For all investments in debt securities, fair values are based on quoted prices. If a quoted price is not available, then fair value is estimated using quoted prices for similar securities. Loans The fair values of categories of fixed rate loans, such as commercial loans, residential real estate, and other consumer loans, are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Other loans, including variable rate loans, are adjusted for differences in loan characteristics. Deposits and Short-Term Borrowings The fair values of demand deposits, savings accounts, and certain money market deposits are the amounts payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. These estimates do not take into consideration the value of core deposit intangibles. Generally, the carrying amount of short-term borrowings is a reasonable estimate of fair value. The fair values of securities sold under agreements to repurchase (included in short-term borrowings) and long-term debt are estimated using the rates offered for similar borrowings. Commitments to Extend Credit and Standby Letters of Credit The majority of the Company’s commitments to grant loans and standby letters of credit are written to carry current market interest rates if converted to loans. In general, commitments to extend credit and letters of credit are not assignable by the Company or the borrower, so they generally have value only to the Company and the borrower. Therefore, it is impractical to assign any value to these commitments. March 31, 2016 December 31, 2015 Estimated Estimated Carrying Fair Carrying Fair (Dollars in thousands) Amount Value Amount Value Financial assets Level 1 inputs Cash and cash equivalents $ 73,626 $ 73,626 $ 73,811 $ 73,811 Level 2 inputs Investment securities held to maturity $ 3,996 $ 4,108 $ 4,191 $ 4,243 Loans, net 790,612 793,427 786,798 788,187 Financial liabilities Level 2 inputs Deposits $ 969,733 $ 930,304 $ 975,464 $ 922,161 Short-term borrowings 5,872 5,872 6,672 6,672 |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk | 3 Months Ended |
Mar. 31, 2016 | |
Financial Instruments With Off Balance Sheet Risk Disclosure [Abstract] | |
Financial Instruments With Off Balance Sheet Risk Disclosure [Text Block] | Note 10 Financial Instruments with Off-Balance Sheet Risk In the normal course of business, to meet the financial needs of its customers, the Company’s bank subsidiaries are parties to financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit and standby letters of credit. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Letters of credit are conditional commitments issued by the Company’s bank subsidiaries to guarantee the performance of a customer to a third party. Letters of credit and other commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because many of the letters of credit and commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Letters of credit are conditional commitments issued by the Banks to guarantee the performance of a customer to a third party. Letters of credit and other commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because many of the letters of credit and commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. (Dollars in thousands) March 31, 2016 December 31, 2015 Commitments to extend credit $ 182,613 $ 166,931 Letters of credit 8,064 7,087 Total $ 190,677 $ 174,018 |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 11 Segment Reporting The Company operates two primary business segments: Community Banking and Insurance Products and Services. Through the Community Banking business, the Company provides services to consumers and small businesses on the Eastern Shore of Maryland and Delaware through its 18-branch network and a loan production office in Delaware. Community banking activities include small business services, retail brokerage, trust services and consumer banking products and services. Loan products available to consumers include mortgage, home equity, automobile, marine, and installment loans, credit cards and other secured and unsecured personal lines of credit. Small business lending includes commercial mortgages, real estate development loans, equipment and operating loans, as well as secured and unsecured lines of credit, credit cards, accounts receivable financing arrangements, and merchant card services. Through the Insurance Products and Services business, the Company provides a full range of insurance products and services to businesses and consumers in the Company’s market areas. Products include property and casualty, life, marine, individual health and long-term care insurance. Pension and profit sharing plans and retirement plans for executives and employees are available to suit the needs of individual businesses. Community Insurance Products Parent Consolidated (Dollars in thousands) Banking and Services Company Total 2016 Interest income $ 9,846 $ - $ 62 $ 9,908 Interest expense (665) - - (665) Provision for credit losses (450) - - (450) Noninterest income 1,830 2,711 - 4,541 Noninterest expense (5,297) (1,709) (2,333) (9,339) Net intersegment (expense) income (1,936) (172) 2,108 - Income (loss) before taxes 3,328 830 (163) 3,995 Income tax (expense) benefit (1,279) (319) 63 (1,535) Net income (loss) $ 2,049 $ 511 $ (100) $ 2,460 Total assets $ 1,103,842 $ 9,133 $ 18,200 $ 1,131,175 2015 Interest income $ 9,394 $ - $ 51 $ 9,445 Interest expense (906) - - (906) Provision for credit losses (650) - - (650) Noninterest income 1,666 2,419 - 4,085 Noninterest expense (5,527) (1,751) (2,426) (9,704) Net intersegment (expense) income (1,993) (197) 2,190 - Income (loss) before taxes 1,984 471 (185) 2,270 Income tax (expense) benefit (752) (179) 70 (861) Net income (loss) $ 1,232 $ 292 $ (115) $ 1,409 Total assets $ 1,068,367 $ 10,023 $ 15,738 $ 1,094,128 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | The consolidated financial statements include the accounts of Shore Bancshares, Inc. and its subsidiaries with all significant intercompany transactions eliminated. The consolidated financial statements conform to accounting principles generally accepted in the United States of America (“GAAP”) and to prevailing practices within the banking industry. The accompanying interim financial statements are unaudited; however, in the opinion of management all adjustments necessary to present fairly the consolidated financial position at March 31, 2016, the consolidated results of operations and comprehensive income for the three months ended March 31, 2016 and 2015, and changes in stockholders’ equity and cash flows for the three months ended March 31, 2016 and 2015, have been included. All such adjustments are of a normal recurring nature. The amounts as of December 31, 2015 were derived from the 2015 audited financial statements. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for any other interim period or for the full year. This Quarterly Report on Form 10-Q should be read in conjunction with the Annual Report of Shore Bancshares, Inc. on Form 10-K for the year ended December 31, 2015. For purposes of comparability, certain reclassifications have been made to amounts previously reported to conform with the current period presentation. When used in these notes, the term “the Company” refers to Shore Bancshares, Inc. and, unless the context requires otherwise, its consolidated subsidiaries |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date ASU 2014-12, "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." Compensation - Stock Compensation ASU No. 2015-05, “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” ASU No. 2016-01, “Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. ASU No. 2016-02, “Leases (Topic 842).” Elements of Financial Statements ASU No. 2016-09, “Compensation Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table provides information relating to the calculation of earnings per common share: For the Three Months Ended March 31, (In thousands, except per share data) 2016 2015 Net income $ 2,460 $ 1,409 Weighted average shares outstanding - Basic 12,635 12,625 Dilutive effect of common stock equivalents 14 8 Weighted average shares outstanding - Diluted 12,649 12,633 Earnings per common share - Basic $ 0.19 $ 0.11 Earnings per common share - Diluted $ 0.19 $ 0.11 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | The following table provides information on the amortized cost and estimated fair values of investment securities. Gross Gross Estimated Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available-for-sale securities: March 31, 2016 U.S. Treasury $ 5,045 $ 5 $ - $ 5,050 U.S. Government agencies 49,490 163 145 49,508 Mortgage-backed 150,090 1,713 278 151,525 Equity 641 11 - 652 Total $ 205,266 $ 1,892 $ 423 $ 206,735 December 31, 2015 U.S. Treasury $ 5,078 $ 1 $ - $ 5,079 U.S. Government agencies 49,630 89 190 49,529 Mortgage-backed 156,939 639 662 156,916 Equity 637 4 - 641 Total $ 212,284 $ 733 $ 852 $ 212,165 Held-to-maturity securities: March 31, 2016 U.S. Government agencies $ 2,380 $ - $ 9 $ 2,371 States and political subdivisions 1,616 121 - 1,737 Total $ 3,996 $ 121 $ 9 $ 4,108 December 31, 2015 U.S. Government agencies $ 2,575 $ - $ 60 $ 2,515 States and political subdivisions 1,616 112 - 1,728 Total $ 4,191 $ 112 $ 60 $ 4,243 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015. Less than More than Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Available-for-sale securities: U.S. Government agencies $ 13,998 $ 19 $ - $ 126 $ 13,998 $ 145 Mortgage-backed 12,460 45 17,476 233 29,936 278 Total $ 26,458 $ 64 $ 17,476 $ 359 $ 43,934 $ 423 Held-to-maturity securities: U.S. Government agencies $ 2,371 $ 9 $ - $ - $ 2,371 $ 9 Less than More than Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2015 Available-for-sale securities: U.S. Government agencies $ 18,981 $ 57 $ - $ 133 $ 18,981 $ 190 Mortgage-backed 43,881 328 21,263 334 65,144 662 Total $ 62,862 $ 385 $ 21,263 $ 467 $ 84,125 $ 852 Held-to-maturity securities: U.S. Government agencies $ - $ - $ 2,515 $ 60 $ 2,515 $ 60 |
Schedule of Securities Debt Maturities [Table Text Block] | The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at March 31, 2016. Available for sale Held to maturity Amortized Estimated Amortized Estimated (Dollars in thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 17,665 $ 17,694 $ - $ - Due after one year through five years 34,086 34,149 711 753 Due after five years through ten years 10,715 10,766 402 450 Due after ten years 142,159 143,474 2,883 2,905 204,625 206,083 3,996 4,108 Equity securities 641 652 - - Total $ 205,266 $ 206,735 $ 3,996 $ 4,108 |
Loans and Allowance for Credi22
Loans and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Financing Receivables [Table Text Block] | The following table provides information about the principal classes of the loan portfolio at March 31, 2016 and December 31, 2015. (Dollars in thousands) March 31, December 31, Construction $ 78,244 $ 85,632 Residential real estate 310,575 307,063 Commercial real estate 334,754 330,253 Commercial 67,735 64,911 Consumer 7,613 7,255 Total loans 798,921 795,114 Allowance for credit losses (8,309) (8,316) Total loans, net $ 790,612 $ 786,798 |
Allowance for Credit Losses on Loans Receivables Additional Information [Table Text Block] | The following tables include impairment information relating to loans and the allowance for credit losses as of March 31, 2016 and December 31, 2015. (Dollars in thousands) Construction Residential Commercial Commercial Consumer Unallocated Total March 31, 2016 Loans individually evaluated for impairment $ 10,590 $ 7,933 $ 7,880 $ 154 $ 121 $ - $ 26,678 Loans collectively evaluated for impairment 67,654 302,642 326,874 67,581 7,492 - 772,243 Total loans $ 78,244 $ 310,575 $ 334,754 $ 67,735 $ 7,613 $ - $ 798,921 Allowance for credit losses allocated to: Loans individually evaluated for impairment $ 783 $ 189 $ 552 $ - $ - $ - $ 1,524 Loans collectively evaluated for impairment 970 1,825 2,705 585 177 523 6,785 Total allowance for credit losses $ 1,753 $ 2,014 $ 3,257 $ 585 $ 177 $ 523 $ 8,309 (Dollars in thousands) Construction Residential Commercial Commercial Consumer Unallocated Total December 31, 2015 Loans individually evaluated for impairment $ 11,598 $ 7,945 $ 7,762 $ 161 $ 122 $ - $ 27,588 Loans collectively evaluated for impairment 74,034 299,118 322,491 64,750 7,133 - 767,526 Total loans $ 85,632 $ 307,063 $ 330,253 $ 64,911 $ 7,255 $ - $ 795,114 Allowance for credit losses allocated to: Loans individually evaluated for impairment $ 619 $ 435 $ 340 $ - $ 7 $ - $ 1,401 Loans collectively evaluated for impairment 1,027 1,746 2,659 558 149 776 6,915 Total allowance for credit losses $ 1,646 $ 2,181 $ 2,999 $ 558 $ 156 $ 776 $ 8,316 |
Impaired Financing Receivables [Table Text Block] | The following tables provide information on impaired loans and any related allowance by loan class as of March 31, 2016 and December 31, 2015. The difference between the unpaid principal balance and the recorded investment is the amount of partial charge-offs that have been taken. (Dollars in thousands) Unpaid Recorded Recorded Related Quarter-to- Interest March 31, 2016 Impaired nonaccrual loans: Construction $ 11,167 $ 3,724 $ 2,874 $ 755 $ 7,216 $ - Residential real estate 2,600 2,079 199 77 2,292 - Commercial real estate 3,854 2,774 - - 2,559 - Commercial 172 154 - - 158 - Consumer 128 121 - - 121 - Total 17,921 8,852 3,073 832 12,346 - Impaired accruing TDRs: Construction 3,992 3,194 798 28 4,041 25 Residential real estate 5,655 2,667 2,988 112 5,669 55 Commercial real estate 5,106 1,099 4,007 552 5,363 46 Commercial - - - - - - Consumer - - - - - - Total 14,753 6,960 7,793 692 15,073 126 Total impaired loans: Construction 15,159 6,918 3,672 783 11,257 25 Residential real estate 8,255 4,746 3,187 189 7,961 55 Commercial real estate 8,960 3,873 4,007 552 7,922 46 Commercial 172 154 - - 158 - Consumer 128 121 - - 121 - Total $ 32,674 $ 15,812 $ 10,866 $ 1,524 $ 27,419 $ 126 March 31, 2015 (Dollars in thousands) Unpaid Recorded Recorded Related Quarter-to- Interest December 31, 2015 Impaired nonaccrual loans: Construction $ 11,850 $ 4,647 $ 2,882 $ 588 $ 7,630 $ - Residential real estate 2,563 1,773 487 208 3,360 - Commercial real estate 2,988 1,813 209 9 1,401 - Commercial 175 161 - - 163 - Consumer 128 98 23 7 121 - Total 17,704 8,492 3,601 812 12,675 - Impaired accruing TDRs: Construction 4,069 3,266 803 31 4,073 84 Residential real estate 5,686 2,380 3,306 227 6,338 312 Commercial real estate 5,740 1,702 4,038 331 5,689 254 Commercial - - - - - 1 Consumer - - - - - - Total 15,495 7,348 8,147 589 16,100 651 Total impaired loans: Construction 15,919 7,913 3,685 619 11,703 84 Residential real estate 8,249 4,153 3,793 435 9,698 312 Commercial real estate 8,728 3,515 4,247 340 7,090 254 Commercial 175 161 - - 163 1 Consumer 128 98 23 7 121 - Total $ 33,199 $ 15,840 $ 11,748 $ 1,401 $ 28,775 $ 651 |
Schedule of Financing Receivables Accruing and Non Accrual of Troubled Debt restructurings [Table Text Block] | 1/1/16 Reclassification/ 3/31/16 TDR New Disbursements Charge Transfers TDR Related (Dollars in thousands) Balance TDRs (Payments) offs In/(Out) Payoffs Balance Allowance For the three months ended 3/31/2016 Accruing TDRs Construction $ 4,069 $ - $ (77) $ - $ - $ - $ 3,992 $ 28 Residential Real Estate 5,686 - (31) - - - 5,655 112 Commercial Real Estate 5,740 - (517) (117) - - 5,106 552 Commercial - - - - - - - - Consumer - - - - - - - - Total $ 15,495 $ - $ (625) $ (117) $ - $ - $ 14,753 $ 692 Nonaccrual TDRs Construction $ 4,960 $ 2,570 $ (691) $ (241) $ - $ - $ 6,598 $ 755 Residential Real Estate 445 - (288) - - - 157 11 Commercial Real Estate - - - - - - - - Commercial - - - - - - - - Consumer 23 - - - - - 23 - Total $ 5,428 $ 2,570 $ (979) $ - $ - $ - $ 6,778 $ 766 Total TDRs $ 20,923 $ 2,570 $ (1,604) $ (358) $ - $ - $ 21,531 $ 1,458 1/1/15 Reclassification/ 3/31/15 TDR New Disbursements Transfers TDR Related (Dollars in thousands) Balance TDRs (Payments) Charge offs In/(Out) Payoffs Balance Allowance For the three months ended 3/31/2015 Accruing TDRs Construction $ 4,022 $ - $ (6) $ - $ - $ - $ 4,016 $ 39 Residential Real Estate 6,368 - (46) - - - 6,322 255 Commercial Real Estate 6,237 - 24 - - - 6,261 23 Commercial 47 - (2) - - - 45 - Consumer - - - - - - - - Total $ 16,674 $ - $ (30) $ - $ - $ - $ 16,644 $ 317 Nonaccrual TDRs Construction $ 3,321 $ - $ (7) $ (363) $ 2,911 $ - $ 5,862 $ 690 Residential Real Estate 3,382 - (9) - (2,911) - 462 - Commercial Real Estate 346 - (2) (40) (238) - 66 - Commercial - - - - - - - - Consumer 25 - (1) - - - 24 - Total $ 7,074 $ - $ (19) $ (403) $ (238) $ - $ 6,414 $ 690 Total TDRs $ 23,748 $ - $ (49) $ (403) $ (238) $ - $ 23,058 $ 1,007 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Premodification Postmodification outstanding outstanding Number of recorded recorded Related (Dollars in thousands) contracts investment investment allowance TDRs: For the three months ended March 31, 2016 Construction 1 $ 2,570 $ 2,570 $ - Residential real estate - - - - Commercial real estate - - - - Commercial - - - - Consumer - - - - Total 1 $ 2,570 $ 2,570 $ - For the three months ended March 31, 2015 Construction - $ - $ - $ - Residential real estate - - - - Commercial real estate - - - - Commercial - - - - Consumer - - - - Total - $ - $ - $ - |
Troubled Debt Restructurings that Defaulted on Financing Receivables [Table Text Block] | The following tables provide information on TDRs that defaulted during the three months ended March 31, 2016 and March 31, 2015. Generally, a loan is considered in default when principal or interest is past due 90 days or more. Number of Recorded Related (Dollars in thousands) contracts investment allowance TDRs that subsequently defaulted: For the three months ended March 31, 2016 Construction 1 $ 241 $ - Residential real estate - - - Commercial real estate 1 117 - Commercial - - - Consumer - - - Total 2 $ 358 $ - TDRs that subsequently defaulted: For the three months ended March 31, 2015 Construction 3 $ 363 $ - Residential real estate - - - Commercial real estate 1 40 - Commercial - - - Consumer - - - Total 4 $ 403 $ - |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables provide information on loan risk ratings as of March 31, 2016 and December 31, 2015. Special (Dollars in thousands) Pass/Performing mention Substandard Doubtful Total March 31, 2016 Construction $ 63,823 $ 3,845 $ 10,576 $ - $ 78,244 Residential real estate 294,844 8,735 6,996 - 310,575 Commercial real estate 307,769 17,158 9,827 - 334,754 Commercial 66,638 704 393 - 67,735 Consumer 7,468 24 121 - 7,613 Total $ 740,542 $ 30,466 $ 27,913 $ - $ 798,921 Special (Dollars in thousands) Pass/Performing mention Substandard Doubtful Total December 31, 2015 Construction $ 70,214 $ 3,903 $ 11,515 $ - $ 85,632 Residential real estate 290,857 8,837 7,369 - 307,063 Commercial real estate 302,438 18,699 9,116 - 330,253 Commercial 63,628 1,075 208 - 64,911 Consumer 7,107 26 122 - 7,255 Total $ 734,244 $ 32,540 $ 28,330 $ - $ 795,114 |
Past Due Financing Receivables [Table Text Block] | The following tables provide information on the aging of the loan portfolio as of March 31, 2016 and December 31, 2015. Accruing 30-59 60-89 90 days days days past or more Total past (Dollars in thousands) Current past due due past due due Nonaccrual Total March 31, 2016 Construction $ 71,618 $ 28 $ - $ - $ 28 $ 6,598 $ 78,244 Residential real estate 303,339 2,113 2,823 22 4,958 2,278 310,575 Commercial real estate 330,129 1,591 260 - 1,851 2,774 334,754 Commercial 67,525 46 - 10 56 154 67,735 Consumer 7,461 26 2 3 31 121 7,613 Total $ 780,072 $ 3,804 $ 3,085 $ 35 $ 6,924 $ 11,925 $ 798,921 Percent of total loans 97.6 % 0.5 % 0.4 % - % 0.9 % 1.5 % 100 % Accruing 30-59 60-89 90 days or days days past more past Total past (Dollars in thousands) Current past due due due due Nonaccrual Total December 31, 2015 Construction $ 78,082 $ 21 $ - $ - $ 21 $ 7,529 $ 85,632 Residential real estate 300,563 2,139 2,102 - 4,241 2,259 307,063 Commercial real estate 327,370 - 861 - 861 2,022 330,253 Commercial 64,670 49 31 - 80 161 64,911 Consumer 7,107 13 6 7 26 122 7,255 Total $ 777,792 $ 2,222 $ 3,000 $ 7 $ 5,229 $ 12,093 $ 795,114 Percent of total loans 97.8 % 0.3 % 0.4 % - % 0.7 % 1.5 % 100 % |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Allocation of a portion of the allowance to one loan class does not preclude its availability to absorb losses in other loan classes. Residential Commercial (Dollars in thousands) Construction real estate real estate Commercial Consumer Unallocated Total For the three months ended March 31, 2016 Allowance for credit losses: Beginning balance $ 1,646 $ 2,181 $ 2,999 $ 558 $ 156 $ 776 $ 8,316 Charge-offs (241) (16) (238) (67) (8) - (570) Recoveries 6 34 - 65 8 - 113 Net charge-offs (235) 18 (238) (2) - - (457) Provision 342 (185) 496 29 21 (253) 450 Ending balance $ 1,753 $ 2,014 $ 3,257 $ 585 $ 177 $ 523 $ 8,309 Residential Commercial (Dollars in thousands) Construction real estate real estate Commercial Consumer Unallocated Total For the three months ended March 31, 2015 Allowance for credit losses: Beginning balance $ 1,303 $ 2,834 $ 2,379 $ 448 $ 229 $ 502 $ 7,695 Charge-offs (363) (114) (40) (124) (10) - (651) Recoveries 3 23 13 47 18 - 104 Net charge-offs (360) (91) (27) (77) 8 - (547) Provision 941 (619) (13) 70 (57) 328 650 Ending balance $ 1,884 $ 2,124 $ 2,339 $ 441 $ 180 $ 830 $ 7,798 |
Other Assets (Tables)
Other Assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Assets [Table Text Block] | (Dollars in thousands) March 31, 2016 December 31, 2015 Nonmarketable investment securities $ 1,650 $ 1,621 Accrued interest receivable 2,602 2,458 Deferred income taxes 10,234 12,132 Prepaid expenses 1,605 1,039 Other assets 6,297 6,670 Total $ 22,388 $ 23,920 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (Dollars in thousands) March 31, December 31, Deferred tax assets: Allowance for credit losses $ 3,318 $ 3,316 Reserve for off-balance sheet commitments 121 121 Net operating loss carry forward 7,413 9,069 Write-downs of other real estate owned 303 308 Deferred income 1,220 1,155 Unrealized gains on available-for-sale securities - 48 Accrued expenses 928 946 AMT carryover 395 - Other 185 191 Total deferred tax assets 13,883 15,154 Deferred tax liabilities: Depreciation 243 271 Amortization on loans FMV adjustment 192 140 Purchase accounting adjustments 2,036 1,988 Deferred capital gain on branch sale 409 411 Unrealized gains on available-for-sale securities 593 - Other 176 212 Total deferred tax liabilities 3,649 3,022 Net deferred tax assets $ 10,234 $ 12,132 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of Other Liabilities [Table Text Block] | The Company had the following other liabilities at March 31, 2016 and December 31, 2015. (Dollars in thousands) March 31, 2016 December 31, 2015 Accrued interest payable $ 97 $ 106 Other accounts payable 2,207 2,775 Deferred compensation liability 1,462 1,464 Other liabilities 1,695 1,695 Total $ 5,461 $ 6,040 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation [Table Text Block] | The following tables provide information on stock-based compensation expense for the three months ended March 31, 2016 and 2015. For the Three Months Ended March 31, (Dollars in thousands) 2016 2015 Stock-based compensation expense $ 111 $ 136 Proceeds from issuance of common stock 3 - March 31, (Dollars in thousands) 2016 2015 Unrecognized stock-based compensation expense $ 70 $ 102 Weighted average period unrecognized expense is expected to be recognized 0.6 years 0.8 years |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | The following table summarizes restricted stock award activity for the Company under the 2006 Equity Plan for the three months ended March 31, 2016 and 2015. Number Weighted Average Grant of Shares Date Fair Value March 31, 2016 Nonvested at beginning of period 12,488 $ 8.74 Granted 8,524 11.16 Vested (13,467) 9.49 Cancelled - - Nonvested at end of period 7,545 $ 10.16 Number Weighted Average Grant of Shares Date Fair Value March 31, 2015 Nonvested at beginning of period 14,251 $ 8.33 Granted 6,763 9.18 Vested (8,680) 8.55 Cancelled - - Nonvested at end of period 12,334 $ 8.22 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes stock option activity for the Company under the 2006 Equity Plan for the three months ended March 31, 2016 and 2015. Weighted Number Average of Shares Exercise Price March 31, 2016 Outstanding at beginning of period 61,327 $ 8.05 Granted 12,443 11.12 Exercised (450) 6.64 Expired/Cancelled - - Outstanding at end of period 73,320 $ 8.58 Exercisable at end of period 67,099 $ 8.35 Weighted Number Average of Shares Exercise Price March 31, 2015 Outstanding at beginning of period 27,108 $ 6.64 Granted 34,219 3.44 Exercised - - Expired/Cancelled - - Outstanding at end of period 61,327 $ 4.85 Exercisable at end of period 27,108 $ 6.64 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options granted in 2016. Dividend yield 0.73 % Expected volatility 38.60 % Risk-free interest rate 1.75 % Expected contract life (in years) 10 years |
Accumulated Other Comprehensi26
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Accumulated net Total accumulated Balance, December 31, 2015 $ (71) $ (71) Other comprehensive income 947 947 Balance, March 31, 2016 $ 876 $ 876 Balance, December 31, 2014 $ 316 $ 316 Other comprehensive income 732 732 Balance, March 31, 2015 $ 1,048 $ 1,048 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The tables below present the recorded amount of assets measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015. No assets were transferred from one hierarchy level to another during the first three months of 2016 or 2015. Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) March 31, 2016 Securities available for sale: U.S. Treasury $ 5,050 $ 5,050 $ - $ - U.S. Government agencies 49,508 - 49,508 - Mortgage-backed 151,525 - 151,525 - Equity 652 - 652 - Total $ 206,735 $ 5,050 $ 201,685 $ - Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Securities available for sale: U.S. Treasury $ 5,079 $ 5,079 $ - $ - U.S. Government agencies 49,529 - 49,529 - Mortgage-backed 156,916 - 156,916 - Equity 641 - 641 - Total $ 212,165 $ 5,079 $ 207,086 $ - |
Fair Value Assets Measured on Nonrecurring Basis [Table Text Block] | The tables below present the recorded amount of assets measured at fair value on a nonrecurring basis at March 31, 2016 and December 31, 2015. No assets were transferred from one hierarchy level to another during the first three months of 2016 or 2015. Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) March 31, 2016 Impaired loans Construction $ 9,807 $ - $ 9,807 $ - Residential real estate 7,744 - 7,744 - Commercial real estate 7,328 - 7,328 - Commercial 154 - 154 - Consumer 121 - 121 - Total impaired loans 25,154 - 25,154 - Other real estate owned 3,896 - 3,896 - Total assets measured at fair value on a nonrecurring basis $ 29,050 $ - $ 29,050 $ - Significant Other Significant Quoted Observable Unobservable Prices Inputs Inputs (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) December 31, 2015 Impaired loans Construction $ 10,979 $ - $ 10,979 $ - Residential real estate 7,510 - 7,510 - Commercial real estate 7,422 - 7,422 - Commercial 161 - 161 - Consumer 115 - 115 - Total impaired loans 26,187 - 26,187 - Other real estate owned 4,252 - 4,252 - Total assets measured at fair value on a nonrecurring basis $ 30,439 $ - $ 30,439 $ - |
Schedule of Estimated Fair Values of Financial Assets and Liabilities [Table Text Block] | The following table provides information on the estimated fair values of the Company’s financial assets and liabilities that are reported in the balance sheets at their carrying amounts. The financial assets and liabilities have been segregated by their classification level in the fair value hierarchy. March 31, 2016 December 31, 2015 Estimated Estimated Carrying Fair Carrying Fair (Dollars in thousands) Amount Value Amount Value Financial assets Level 1 inputs Cash and cash equivalents $ 73,626 $ 73,626 $ 73,811 $ 73,811 Level 2 inputs Investment securities held to maturity $ 3,996 $ 4,108 $ 4,191 $ 4,243 Loans, net 790,612 793,427 786,798 788,187 Financial liabilities Level 2 inputs Deposits $ 969,733 $ 930,304 $ 975,464 $ 922,161 Short-term borrowings 5,872 5,872 6,672 6,672 |
Financial Instruments with Of28
Financial Instruments with Off-Balance Sheet Risk (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Financial Instruments With Off Balance Sheet Risk Disclosure [Abstract] | |
Schedule of Commitments Outstanding [Table Text Block] | The following table provides information on commitments outstanding at March 31, 2016 and December 31, 2015. (Dollars in thousands) March 31, 2016 December 31, 2015 Commitments to extend credit $ 182,613 $ 166,931 Letters of credit 8,064 7,087 Total $ 190,677 $ 174,018 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following table includes selected financial information by business segments for the first three months of 2016 and 2015. Community Insurance Products Parent Consolidated (Dollars in thousands) Banking and Services Company Total 2016 Interest income $ 9,846 $ - $ 62 $ 9,908 Interest expense (665) - - (665) Provision for credit losses (450) - - (450) Noninterest income 1,830 2,711 - 4,541 Noninterest expense (5,297) (1,709) (2,333) (9,339) Net intersegment (expense) income (1,936) (172) 2,108 - Income (loss) before taxes 3,328 830 (163) 3,995 Income tax (expense) benefit (1,279) (319) 63 (1,535) Net income (loss) $ 2,049 $ 511 $ (100) $ 2,460 Total assets $ 1,103,842 $ 9,133 $ 18,200 $ 1,131,175 2015 Interest income $ 9,394 $ - $ 51 $ 9,445 Interest expense (906) - - (906) Provision for credit losses (650) - - (650) Noninterest income 1,666 2,419 - 4,085 Noninterest expense (5,527) (1,751) (2,426) (9,704) Net intersegment (expense) income (1,993) (197) 2,190 - Income (loss) before taxes 1,984 471 (185) 2,270 Income tax (expense) benefit (752) (179) 70 (861) Net income (loss) $ 1,232 $ 292 $ (115) $ 1,409 Total assets $ 1,068,367 $ 10,023 $ 15,738 $ 1,094,128 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share Basic And Diluted [Line Items] | ||
Net income | $ 2,460 | $ 1,409 |
Weighted average shares outstanding - Basic (in shares) | 12,635 | 12,625 |
Dilutive effect of common stock equivalents (in shares) | 14 | 8 |
Weighted average shares outstanding - Diluted (in shares) | 12,649 | 12,633 |
Earnings per common share - Basic (in dollars per share) | $ 0.19 | $ 0.11 |
Earnings per common share - Diluted (in dollars per share) | $ 0.19 | $ 0.11 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Available-for-sale securities, Amortized Cost | $ 205,266 | $ 212,284 |
Available-for-sale securities, Gross Unrealized Gains | 1,892 | 733 |
Available-for-sale securities, Gross Unrealized Losses | 423 | 852 |
Available-for-sale securities, Estimated Fair Value | 206,735 | 212,165 |
Held-to-maturity securities, Amortized Cost | 3,996 | 4,191 |
Held-to-maturity securities, Gross Unrealized Gains | 121 | 112 |
Held-to-maturity securities, Gross Unrealized Losses | 9 | 60 |
Held-to-maturity securities, Estimated Fair Value | 4,108 | 4,243 |
US Treasury Securities [Member] | ||
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Available-for-sale securities, Amortized Cost | 5,045 | 5,078 |
Available-for-sale securities, Gross Unrealized Gains | 5 | 1 |
Available-for-sale securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale securities, Estimated Fair Value | 5,050 | 5,079 |
US Government Corporations and Agencies Securities [Member] | ||
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Available-for-sale securities, Amortized Cost | 49,490 | 49,630 |
Available-for-sale securities, Gross Unrealized Gains | 163 | 89 |
Available-for-sale securities, Gross Unrealized Losses | 145 | 190 |
Available-for-sale securities, Estimated Fair Value | 49,508 | 49,529 |
Held-to-maturity securities, Amortized Cost | 2,380 | 2,575 |
Held-to-maturity securities, Gross Unrealized Gains | 0 | 0 |
Held-to-maturity securities, Gross Unrealized Losses | 9 | 60 |
Held-to-maturity securities, Estimated Fair Value | 2,371 | 2,515 |
US States and Political Subdivisions Debt Securities [Member] | ||
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Held-to-maturity securities, Amortized Cost | 1,616 | 1,616 |
Held-to-maturity securities, Gross Unrealized Gains | 121 | 112 |
Held-to-maturity securities, Gross Unrealized Losses | 0 | 0 |
Held-to-maturity securities, Estimated Fair Value | 1,737 | 1,728 |
Collateralized Mortgage Backed Securities [Member] | ||
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Available-for-sale securities, Amortized Cost | 150,090 | 156,939 |
Available-for-sale securities, Gross Unrealized Gains | 1,713 | 639 |
Available-for-sale securities, Gross Unrealized Losses | 278 | 662 |
Available-for-sale securities, Estimated Fair Value | 151,525 | 156,916 |
Equity Securities [Member] | ||
ScheduleOfAvailableForSaleSecuritiesLineItems | ||
Available-for-sale securities, Amortized Cost | 641 | 637 |
Available-for-sale securities, Gross Unrealized Gains | 11 | 4 |
Available-for-sale securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale securities, Estimated Fair Value | 652 | $ 641 |
Held-to-maturity securities, Amortized Cost | 0 | |
Held-to-maturity securities, Estimated Fair Value | $ 0 |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | $ 26,458 | $ 62,862 |
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | 64 | 385 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Fair Value | 17,476 | 21,263 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Unrealized Losses | 359 | 467 |
Available-for-sale securities, Continuous Unrealized Loss Position, Fair Value | 43,934 | 84,125 |
Available-for-sale securities, Continuous Unrealized Loss Position, Unrealized Losses | 423 | 852 |
U.S. Government agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 13,998 | 18,981 |
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | 19 | 57 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Fair Value | 0 | 0 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Unrealized Losses | 126 | 133 |
Available-for-sale securities, Continuous Unrealized Loss Position, Fair Value | 13,998 | 18,981 |
Available-for-sale securities, Continuous Unrealized Loss Position, Unrealized Losses | 145 | 190 |
Held-to-maturity securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 2,371 | 0 |
Held-to-maturity securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | 9 | 0 |
Held-to-maturity securities, Continuous Unrealized Loss Position, More than 12 Months, Fair Value | 0 | 2,515 |
Held-to-maturity securities, Continuous Unrealized Loss Position, More than 12 Months, Unrealized Losses | 0 | 60 |
Held-to-maturity securities, Continuous Unrealized Loss Position, Fair Value | 2,371 | 2,515 |
Held-to-maturity securities, Continuous Unrealized Loss Position, Aggregate Loss, Unrealized Losses | 9 | 60 |
Mortgage-backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 12,460 | 43,881 |
Available-for-sale securities, Continuous Unrealized Loss Position, Less than 12 Months, Unrealized Losses | 45 | 328 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Fair Value | 17,476 | 21,263 |
Available-for-sale securities, Continuous Unrealized Loss Position, More than 12 Months, Unrealized Losses | 233 | 334 |
Available-for-sale securities, Continuous Unrealized Loss Position, Fair Value | 29,936 | 65,144 |
Available-for-sale securities, Continuous Unrealized Loss Position, Unrealized Losses | $ 278 | $ 662 |
Investment Securities (Detail33
Investment Securities (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost, Due in one year or less | $ 17,665 | |
Available for sale, Amortized Cost, Due after one year through five years | 34,086 | |
Available for sale, Amortized Cost, Due after five years through ten years | 10,715 | |
Available for sale, Amortized Cost, Due after ten years | 142,159 | |
Available for sale, Amortized Cost, Debt maturities | 204,625 | |
Available-for-sale securities, Amortized Cost | 205,266 | $ 212,284 |
Available for sale, Estimated Fair Value, Due in one year or less | 17,694 | |
Available for sale, Estimated Fair Value, Due after one year through five years | 34,149 | |
Available for sale, Estimated Fair Value, Due after five years through ten years | 10,766 | |
Available for sale, Estimated Fair Value, Due after ten years | 143,474 | |
Available for sale, Estimated Fair Value, Debt maturities | 206,083 | |
Available for sale, Estimated Fair Value, Total | 206,735 | 212,165 |
Held to maturity securities, Amortized Cost, Due in one year or less | 0 | |
Held to maturity securities, Amortized Cost, Due after one year through five years | 711 | |
Held to maturity securities, Amortized Cost, Due after five years through ten years | 402 | |
Held to maturity securities, Amortized Cost, Due after ten years | 2,883 | |
Held to maturity securities, Amortized Cost, Debt maturities | 3,996 | |
Held to maturity securities, Amortized Cost, Total | 3,996 | 4,191 |
Held to maturity securities, Estimated Fair Value, Due in one year or less | 0 | |
Held to maturity securities, Estimated Fair Value, Due after one year through five years | 753 | |
Held to maturity securities, Estimated Fair Value, Due after five years through ten years | 450 | |
Held to maturity securities, Estimated Fair Value, Due after ten years | 2,905 | |
Held to maturity securities, Estimated Fair Value, Debt maturities | 4,108 | |
Held-to-maturity securities, Estimated Fair Value, Total | 4,108 | 4,243 |
Equity [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, Amortized Cost | 641 | 637 |
Available for sale, Estimated Fair Value, Total | 652 | $ 641 |
Held to maturity securities, Amortized Cost, Total | 0 | |
Held-to-maturity securities, Estimated Fair Value, Total | $ 0 |
Loans and Allowance for Credi34
Loans and Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Construction | $ 78,244 | $ 85,632 |
Residential real estate | 310,575 | 307,063 |
Commercial real estate | 334,754 | 330,253 |
Commercial | 67,735 | 64,911 |
Consumer | 7,613 | 7,255 |
Total loans | 798,921 | 795,114 |
Allowance for credit losses | (8,309) | (8,316) |
Total loans, net | $ 790,612 | $ 786,798 |
Loans and Allowance for Credi35
Loans and Allowance for Credit Losses (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | $ 26,678 | $ 27,588 |
Loans collectively evaluated for impairment | 772,243 | 767,526 |
Total loans | 798,921 | 795,114 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 1,524 | 1,401 |
Loans collectively evaluated for impairment | 6,785 | 6,915 |
Total allowance for credit losses | 8,309 | 8,316 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 10,590 | 11,598 |
Loans collectively evaluated for impairment | 67,654 | 74,034 |
Total loans | 78,244 | 85,632 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 783 | 619 |
Loans collectively evaluated for impairment | 970 | 1,027 |
Total allowance for credit losses | 1,753 | 1,646 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 7,933 | 7,945 |
Loans collectively evaluated for impairment | 302,642 | 299,118 |
Total loans | 310,575 | 307,063 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 189 | 435 |
Loans collectively evaluated for impairment | 1,825 | 1,746 |
Total allowance for credit losses | 2,014 | 2,181 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 7,880 | 7,762 |
Loans collectively evaluated for impairment | 326,874 | 322,491 |
Total loans | 334,754 | 330,253 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 552 | 340 |
Loans collectively evaluated for impairment | 2,705 | 2,659 |
Total allowance for credit losses | 3,257 | 2,999 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 154 | 161 |
Loans collectively evaluated for impairment | 67,581 | 64,750 |
Total loans | 67,735 | 64,911 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 585 | 558 |
Total allowance for credit losses | 585 | 558 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 121 | 122 |
Loans collectively evaluated for impairment | 7,492 | 7,133 |
Total loans | 7,613 | 7,255 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 0 | 7 |
Loans collectively evaluated for impairment | 177 | 149 |
Total allowance for credit losses | 177 | 156 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 0 | 0 |
Total loans | 0 | 0 |
Allowance for credit losses allocated to: | ||
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 523 | 776 |
Total allowance for credit losses | $ 523 | $ 776 |
Loans and Allowance for Credi36
Loans and Allowance for Credit Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Impaired Nonaccrual Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | $ 17,921 | $ 17,704 |
Recorded investment with no allowance | 8,852 | 8,492 |
Recorded investment with an allowance | 3,073 | 3,601 |
Related allowance | 832 | 812 |
Quarter-to-date average recorded investment | 12,346 | 12,675 |
Interest income recognized | 0 | 0 |
Impaired Nonaccrual Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 11,167 | 11,850 |
Recorded investment with no allowance | 3,724 | 4,647 |
Recorded investment with an allowance | 2,874 | 2,882 |
Related allowance | 755 | 588 |
Quarter-to-date average recorded investment | 7,216 | 7,630 |
Interest income recognized | 0 | 0 |
Impaired Nonaccrual Loans [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 2,600 | 2,563 |
Recorded investment with no allowance | 2,079 | 1,773 |
Recorded investment with an allowance | 199 | 487 |
Related allowance | 77 | 208 |
Quarter-to-date average recorded investment | 2,292 | 3,360 |
Interest income recognized | 0 | 0 |
Impaired Nonaccrual Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 3,854 | 2,988 |
Recorded investment with no allowance | 2,774 | 1,813 |
Recorded investment with an allowance | 0 | 209 |
Related allowance | 0 | 9 |
Quarter-to-date average recorded investment | 2,559 | 1,401 |
Interest income recognized | 0 | 0 |
Impaired Nonaccrual Loans [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 172 | 175 |
Recorded investment with no allowance | 154 | 161 |
Recorded investment with an allowance | 0 | 0 |
Related allowance | 0 | 0 |
Quarter-to-date average recorded investment | 158 | 163 |
Interest income recognized | 0 | 0 |
Impaired Nonaccrual Loans [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 128 | 128 |
Recorded investment with no allowance | 121 | 98 |
Recorded investment with an allowance | 0 | 23 |
Related allowance | 0 | 7 |
Quarter-to-date average recorded investment | 121 | 121 |
Interest income recognized | 0 | 0 |
Impaired Accruing TDRs [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 14,753 | 15,495 |
Recorded investment with no allowance | 6,960 | 7,348 |
Recorded investment with an allowance | 7,793 | 8,147 |
Related allowance | 692 | 589 |
Quarter-to-date average recorded investment | 15,073 | 16,100 |
Interest income recognized | 126 | 651 |
Impaired Accruing TDRs [Member] | Construction Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 3,992 | 4,069 |
Recorded investment with no allowance | 3,194 | 3,266 |
Recorded investment with an allowance | 798 | 803 |
Related allowance | 28 | 31 |
Quarter-to-date average recorded investment | 4,041 | 4,073 |
Interest income recognized | 25 | 84 |
Impaired Accruing TDRs [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 5,655 | 5,686 |
Recorded investment with no allowance | 2,667 | 2,380 |
Recorded investment with an allowance | 2,988 | 3,306 |
Related allowance | 112 | 227 |
Quarter-to-date average recorded investment | 5,669 | 6,338 |
Interest income recognized | 55 | 312 |
Impaired Accruing TDRs [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 5,106 | 5,740 |
Recorded investment with no allowance | 1,099 | 1,702 |
Recorded investment with an allowance | 4,007 | 4,038 |
Related allowance | 552 | 331 |
Quarter-to-date average recorded investment | 5,363 | 5,689 |
Interest income recognized | 46 | 254 |
Impaired Accruing TDRs [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with an allowance | 0 | 0 |
Related allowance | 0 | 0 |
Quarter-to-date average recorded investment | 0 | 0 |
Interest income recognized | 0 | 1 |
Impaired Accruing TDRs [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with no allowance | 0 | 0 |
Recorded investment with an allowance | 0 | 0 |
Related allowance | 0 | 0 |
Quarter-to-date average recorded investment | 0 | 0 |
Interest income recognized | 0 | 0 |
Total Impired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 32,674 | 33,199 |
Recorded investment with no allowance | 15,812 | 15,840 |
Recorded investment with an allowance | 10,866 | 11,748 |
Related allowance | 1,524 | 1,401 |
Quarter-to-date average recorded investment | 27,419 | 28,775 |
Interest income recognized | 126 | 651 |
Total Impired Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 15,159 | 15,919 |
Recorded investment with no allowance | 6,918 | 7,913 |
Recorded investment with an allowance | 3,672 | 3,685 |
Related allowance | 783 | 619 |
Quarter-to-date average recorded investment | 11,257 | 11,703 |
Interest income recognized | 25 | 84 |
Total Impired Loans [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 8,255 | 8,249 |
Recorded investment with no allowance | 4,746 | 4,153 |
Recorded investment with an allowance | 3,187 | 3,793 |
Related allowance | 189 | 435 |
Quarter-to-date average recorded investment | 7,961 | 9,698 |
Interest income recognized | 55 | 312 |
Total Impired Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 8,960 | 8,728 |
Recorded investment with no allowance | 3,873 | 3,515 |
Recorded investment with an allowance | 4,007 | 4,247 |
Related allowance | 552 | 340 |
Quarter-to-date average recorded investment | 7,922 | 7,090 |
Interest income recognized | 46 | 254 |
Total Impired Loans [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 172 | 175 |
Recorded investment with no allowance | 154 | 161 |
Recorded investment with an allowance | 0 | 0 |
Related allowance | 0 | 0 |
Quarter-to-date average recorded investment | 158 | 163 |
Interest income recognized | 0 | 1 |
Total Impired Loans [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Unpaid principal balance | 128 | 128 |
Recorded investment with no allowance | 121 | 98 |
Recorded investment with an allowance | 0 | 23 |
Related allowance | 0 | 7 |
Quarter-to-date average recorded investment | 121 | 121 |
Interest income recognized | $ 0 | $ 0 |
Loans and Allowance for Credi37
Loans and Allowance for Credit Losses (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | $ 8,316 | |
TDR Balance | 8,309 | |
Troubled Debt Restructuring [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 20,923 | $ 23,748 |
New TDRs | 2,570 | 0 |
Disbursements (Payments) | (1,604) | (49) |
Charge offs | (358) | (403) |
Reclassification/Transfers In/(Out) | 0 | (238) |
Payoffs | 0 | 0 |
TDR Balance | 21,531 | 23,058 |
Related Allowance | 1,458 | 1,007 |
Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 15,495 | 16,674 |
New TDRs | 0 | 0 |
Disbursements (Payments) | (625) | (30) |
Charge offs | (117) | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 14,753 | 16,644 |
Related Allowance | 692 | 317 |
Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 5,428 | 7,074 |
New TDRs | 2,570 | 0 |
Disbursements (Payments) | (979) | (19) |
Charge offs | 0 | (403) |
Reclassification/Transfers In/(Out) | 0 | (238) |
Payoffs | 0 | 0 |
TDR Balance | 6,778 | 6,414 |
Related Allowance | 766 | 690 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 1,646 | |
TDR Balance | 1,753 | |
Construction [Member] | Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 4,069 | 4,022 |
New TDRs | 0 | 0 |
Disbursements (Payments) | (77) | (6) |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 3,992 | 4,016 |
Related Allowance | 28 | 39 |
Construction [Member] | Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 4,960 | 3,321 |
New TDRs | 2,570 | 0 |
Disbursements (Payments) | (691) | (7) |
Charge offs | (241) | (363) |
Reclassification/Transfers In/(Out) | 0 | 2,911 |
Payoffs | 0 | 0 |
TDR Balance | 6,598 | 5,862 |
Related Allowance | 755 | 690 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 2,181 | |
TDR Balance | 2,014 | |
Residential real estate [Member] | Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 5,686 | 6,368 |
New TDRs | 0 | 0 |
Disbursements (Payments) | (31) | (46) |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 5,655 | 6,322 |
Related Allowance | 112 | 255 |
Residential real estate [Member] | Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 445 | 3,382 |
New TDRs | 0 | 0 |
Disbursements (Payments) | (288) | (9) |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | (2,911) |
Payoffs | 0 | 0 |
TDR Balance | 157 | 462 |
Related Allowance | 11 | 0 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 2,999 | |
TDR Balance | 3,257 | |
Commercial real estate [Member] | Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 5,740 | 6,237 |
New TDRs | 0 | 0 |
Disbursements (Payments) | (517) | 24 |
Charge offs | (117) | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 5,106 | 6,261 |
Related Allowance | 552 | 23 |
Commercial real estate [Member] | Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 0 | 346 |
New TDRs | 0 | 0 |
Disbursements (Payments) | 0 | (2) |
Charge offs | 0 | (40) |
Reclassification/Transfers In/(Out) | 0 | (238) |
Payoffs | 0 | 0 |
TDR Balance | 0 | 66 |
Related Allowance | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 558 | |
TDR Balance | 585 | |
Commercial [Member] | Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 0 | 47 |
New TDRs | 0 | 0 |
Disbursements (Payments) | 0 | (2) |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 0 | 45 |
Related Allowance | 0 | 0 |
Commercial [Member] | Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 0 | 0 |
New TDRs | 0 | 0 |
Disbursements (Payments) | 0 | 0 |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 156 | |
TDR Balance | 177 | |
Consumer [Member] | Accruing Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 0 | 0 |
New TDRs | 0 | 0 |
Disbursements (Payments) | 0 | 0 |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Consumer [Member] | Nonaccrual Troubled Debt Restructurings [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
TDR Balance | 23 | 25 |
New TDRs | 0 | 0 |
Disbursements (Payments) | 0 | (1) |
Charge offs | 0 | 0 |
Reclassification/Transfers In/(Out) | 0 | 0 |
Payoffs | 0 | 0 |
TDR Balance | 23 | 24 |
Related Allowance | $ 0 | $ 0 |
Loans and Allowance for Credi38
Loans and Allowance for Credit Losses (Details 4) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 1 | 0 |
Premodification outstanding recorded investment | $ 2,570 | $ 0 |
Postmodification outstanding recorded investment | 2,570 | 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings [Member] | Construction Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 1 | 0 |
Premodification outstanding recorded investment | $ 2,570 | $ 0 |
Postmodification outstanding recorded investment | 2,570 | 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Premodification outstanding recorded investment | $ 0 | $ 0 |
Postmodification outstanding recorded investment | 0 | 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Premodification outstanding recorded investment | $ 0 | $ 0 |
Postmodification outstanding recorded investment | 0 | 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings [Member] | Commercial Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Premodification outstanding recorded investment | $ 0 | $ 0 |
Postmodification outstanding recorded investment | 0 | 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings [Member] | Consumer Loan [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Premodification outstanding recorded investment | $ 0 | $ 0 |
Postmodification outstanding recorded investment | 0 | 0 |
Related allowance | $ 0 | $ 0 |
Loans and Allowance for Credi39
Loans and Allowance for Credit Losses (Details 5) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 2 | 4 |
Recorded investment | $ 358 | $ 403 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 1 | 3 |
Recorded investment | $ 241 | $ 363 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Recorded investment | $ 0 | $ 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 1 | 1 |
Recorded investment | $ 117 | $ 40 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Recorded investment | $ 0 | $ 0 |
Related allowance | $ 0 | $ 0 |
Troubled Debt Restructurings That Subsequently Defaulted [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Number of contracts | 0 | 0 |
Recorded investment | $ 0 | $ 0 |
Related allowance | $ 0 | $ 0 |
Loans and Allowance for Credi40
Loans and Allowance for Credit Losses (Details 6) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | $ 798,921 | $ 795,114 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 78,244 | 85,632 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 310,575 | 307,063 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 334,754 | 330,253 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 67,735 | 64,911 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 7,613 | 7,255 |
Pass/Performing [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 740,542 | 734,244 |
Pass/Performing [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 63,823 | 70,214 |
Pass/Performing [Member] | Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 294,844 | 290,857 |
Pass/Performing [Member] | Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 307,769 | 302,438 |
Pass/Performing [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 66,638 | 63,628 |
Pass/Performing [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 7,468 | 7,107 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 30,466 | 32,540 |
Special Mention [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 3,845 | 3,903 |
Special Mention [Member] | Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 8,735 | 8,837 |
Special Mention [Member] | Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 17,158 | 18,699 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 704 | 1,075 |
Special Mention [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 24 | 26 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 27,913 | 28,330 |
Substandard [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 10,576 | 11,515 |
Substandard [Member] | Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 6,996 | 7,369 |
Substandard [Member] | Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 9,827 | 9,116 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 393 | 208 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 121 | 122 |
Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 0 | 0 |
Doubtful [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 0 | 0 |
Doubtful [Member] | Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 0 | 0 |
Doubtful [Member] | Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 0 | 0 |
Doubtful [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | 0 | 0 |
Doubtful [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loan Risk Rating | $ 0 | $ 0 |
Loans and Allowance for Credi41
Loans and Allowance for Credit Losses (Details 7) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | $ 780,072 | $ 777,792 |
Total past due | 6,924 | 5,229 |
Nonaccrual | 11,925 | 12,093 |
Total loans | $ 798,921 | $ 795,114 |
Percent of total loans, Current | 97.60% | 97.80% |
Percent of total loans, Total past due | 0.90% | 0.70% |
Percent of total loans, Nonaccrual | 1.50% | 1.50% |
Percent of total loans, Total loans | 100.00% | 100.00% |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | $ 3,804 | $ 2,222 |
Percent of total loans, Total past due | 0.50% | 0.30% |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | $ 3,085 | $ 3,000 |
Percent of total loans, Total past due | 0.40% | 0.40% |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | $ 35 | $ 7 |
Percent of total loans, Total past due | 0.00% | 0.00% |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | $ 71,618 | $ 78,082 |
Total past due | 28 | 21 |
Nonaccrual | 6,598 | 7,529 |
Total loans | 78,244 | 85,632 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 28 | 21 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | 303,339 | 300,563 |
Total past due | 4,958 | 4,241 |
Nonaccrual | 2,278 | 2,259 |
Total loans | 310,575 | 307,063 |
Residential real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 2,113 | 2,139 |
Residential real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 2,823 | 2,102 |
Residential real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 22 | 0 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | 330,129 | 327,370 |
Total past due | 1,851 | 861 |
Nonaccrual | 2,774 | 2,022 |
Total loans | 334,754 | 330,253 |
Commercial real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 1,591 | 0 |
Commercial real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 260 | 861 |
Commercial real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | 67,525 | 64,670 |
Total past due | 56 | 80 |
Nonaccrual | 154 | 161 |
Total loans | 67,735 | 64,911 |
Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 46 | 49 |
Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 0 | 31 |
Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 10 | 0 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Current | 7,461 | 7,107 |
Total past due | 31 | 26 |
Nonaccrual | 121 | 122 |
Total loans | 7,613 | 7,255 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 26 | 13 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | 2 | 6 |
Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total past due | $ 3 | $ 7 |
Loans and Allowance for Credi42
Loans and Allowance for Credit Losses (Details 8) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Allowance for credit losses: | ||
Beginning balance | $ 8,316 | $ 7,695 |
Charge-offs | (570) | (651) |
Recoveries | 113 | 104 |
Net charge-offs | (457) | (547) |
Provision | 450 | 650 |
Ending balance | 8,309 | 7,798 |
Construction [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 1,646 | 1,303 |
Charge-offs | (241) | (363) |
Recoveries | 6 | 3 |
Net charge-offs | (235) | (360) |
Provision | 342 | 941 |
Ending balance | 1,753 | 1,884 |
Residential real estate [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 2,181 | 2,834 |
Charge-offs | (16) | (114) |
Recoveries | 34 | 23 |
Net charge-offs | 18 | (91) |
Provision | (185) | (619) |
Ending balance | 2,014 | 2,124 |
Commercial real estate [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 2,999 | 2,379 |
Charge-offs | (238) | (40) |
Recoveries | 0 | 13 |
Net charge-offs | (238) | (27) |
Provision | 496 | (13) |
Ending balance | 3,257 | 2,339 |
Commercial [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 558 | 448 |
Charge-offs | (67) | (124) |
Recoveries | 65 | 47 |
Net charge-offs | (2) | (77) |
Provision | 29 | 70 |
Ending balance | 585 | 441 |
Consumer [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 156 | 229 |
Charge-offs | (8) | (10) |
Recoveries | 8 | 18 |
Net charge-offs | 0 | 8 |
Provision | 21 | (57) |
Ending balance | 177 | 180 |
Unallocated Financing Receivables [Member] | ||
Allowance for credit losses: | ||
Beginning balance | 776 | 502 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Net charge-offs | 0 | 0 |
Provision | (253) | 328 |
Ending balance | $ 523 | $ 830 |
Loans and Allowance for Credi43
Loans and Allowance for Credit Losses (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable Net Reported Amount Additions | $ 581 | $ 581 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Other Assets [Line Items] | ||
Nonmarketable investment securities | $ 1,650 | $ 1,621 |
Accrued interest receivable | 2,602 | 2,458 |
Deferred income taxes | 10,234 | 12,132 |
Prepaid expenses | 1,605 | 1,039 |
Other assets | 6,297 | 6,670 |
Total | $ 22,388 | $ 23,920 |
Other Assets (Details 1)
Other Assets (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Allowance for credit losses | $ 3,318 | $ 3,316 |
Reserve for off-balance sheet commitments | 121 | 121 |
Net operating loss carry forward | 7,413 | 9,069 |
Write-downs of other real estate owned | 303 | 308 |
Deferred income | 1,220 | 1,155 |
Unrealized gains on available-for-sale securities | 0 | 48 |
Accrued expenses | 928 | 946 |
AMT carryover | 395 | 0 |
Other | 185 | 191 |
Total deferred tax assets | 13,883 | 15,154 |
Deferred tax liabilities: | ||
Depreciation | 243 | 271 |
Amortization on loans FMV adjustment | 192 | 140 |
Purchase accounting adjustments | 2,036 | 1,988 |
Deferred capital gain on branch sale | 409 | 411 |
Unrealized gains on available-for-sale securities | 593 | 0 |
Other | 176 | 212 |
Total deferred tax liabilities | 3,649 | 3,022 |
Net deferred tax assets | $ 10,234 | $ 12,132 |
Other Assets (Details Textual)
Other Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2015 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest, Total | $ 3,995 | $ 11,500 | $ 2,270 | |
Operating Loss Carryforwards Expiration Year | 20 years | 18 years |
Other Liabilities (Details)
Other Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Other Liabilities [Line Items] | ||
Accrued interest payable | $ 97 | $ 106 |
Other accounts payable | 2,207 | 2,775 |
Deferred compensation liability | 1,462 | 1,464 |
Other liabilities | 1,695 | 1,695 |
Total | $ 5,461 | $ 6,040 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 111 | $ 136 |
Proceeds from issuance of common stock | 3 | 0 |
Unrecognized stock-based compensation expense | $ 70 | $ 102 |
Weighted average period unrecognized expense is expected to be recognized | 7 months 6 days | 9 months 18 days |
Stock-Based Compensation (Det49
Stock-Based Compensation (Details 1) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of Shares, Nonvested at beginning of period (in shares) | 12,488 | 14,251 |
Number of Shares, Granted (in shares) | 8,524 | 6,763 |
Number of Shares, Vested (in shares) | (13,467) | (8,680) |
Number of Shares, Cancelled (in shares) | 0 | 0 |
Number of Shares, Nonvested at end of period (in shares) | 7,545 | 12,334 |
Weighted Average Grant Date Fair Value, Nonvested at beginning of period (in dollars per share) | $ 8.74 | $ 8.33 |
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | 11.16 | 9.18 |
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | 9.49 | 8.55 |
Weighted Average Grant Date Fair Value, Cancelled (in dollars per share) | 0 | 0 |
Weighted Average Grant Date Fair Value, Nonvested at end of period (in dollars per share) | $ 10.16 | $ 8.22 |
Stock-Based Compensation (Det50
Stock-Based Compensation (Details 2) - Equity Option [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares, Outstanding at beginning of period (in shares) | 61,327 | 27,108 |
Number of shares, Granted (in shares) | 12,443 | 34,219 |
Number of shares, Exercised (in shares) | (450) | 0 |
Number of shares, Expired/Cancelled (in shares) | 0 | 0 |
Number of shares, Outstanding at end of period (in shares) | 73,320 | 61,327 |
Number of shares, Exercisable at end of period (in shares) | 67,099 | 27,108 |
Weighted Average Exercise Price, Outstanding at beginning of period | $ 8.05 | $ 6.64 |
Weighted Average Exercise Price, Granted | 11.12 | 3.44 |
Weighted Average Exercise Price, Exercised | 6.64 | 0 |
Weighted Average Exercise Price, Expired/Cancelled | 0 | 0 |
Weighted Average Exercise Price, Outstanding at end of period | 8.58 | 4.85 |
Weighted Average Exercise Price, Exercisable at end of period | $ 8.35 | $ 6.64 |
Stock-Based Compensation (Det51
Stock-Based Compensation (Details 3) | 3 Months Ended |
Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Dividend yield | 0.73% |
Expected volatility | 38.60% |
Risk-free interest rate | 1.75% |
Expected contract life (in years) | 10 years |
Stock-Based Compensation (Det52
Stock-Based Compensation (Details Textual) - Equity Plan 2006 [Member] - USD ($) $ / shares in Units, $ in Thousands | Feb. 08, 2016 | Mar. 31, 2016 | Mar. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Shares Authorized Under Stock Option Plans Expire Period | 7 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 128 | $ 74 | |
Share Based Compensation Arrangement By Share Based Payment Award Estimated Fair Value Of Stock Price | $ 11.35 | $ 11.98 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years 10 months 24 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 5.03 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 249 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 2 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 243 |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total accumulated other comprehensive income (loss), Beginning Balance | $ (71) | $ 316 |
Other comprehensive income | 947 | 732 |
Total accumulated other comprehensive income (loss), Ending Balance | 876 | 1,048 |
Accumulated Net Unrealized Holding Gains (Losses) On Available For Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Total accumulated other comprehensive income (loss), Beginning Balance | (71) | 316 |
Other comprehensive income | 947 | 732 |
Total accumulated other comprehensive income (loss), Ending Balance | $ 876 | $ 1,048 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | $ 206,735 | $ 212,165 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 5,050 | 5,079 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 201,685 | 207,086 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
US Treasury Securities [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 5,050 | 5,079 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 5,050 | 5,079 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
U.S. Government agencies [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 49,508 | 49,529 |
U.S. Government agencies [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
U.S. Government agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 49,508 | 49,529 |
U.S. Government agencies [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Mortgage-backed [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 151,525 | 156,916 |
Mortgage-backed [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Mortgage-backed [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 151,525 | 156,916 |
Mortgage-backed [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Equity [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 652 | 641 |
Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 0 | 0 |
Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | 652 | 641 |
Equity [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities available for sale: | ||
Available-for-sale Securities, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value Measurements (Deta55
Fair Value Measurements (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Impaired loans: | ||
Impaired loans | $ 25,154 | $ 26,187 |
Other real estate owned | 3,896 | 4,252 |
Total assets measured at fair value on a nonrecurring basis | 29,050 | 30,439 |
Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 25,154 | 26,187 |
Other real estate owned | 3,896 | 4,252 |
Total assets measured at fair value on a nonrecurring basis | 29,050 | 30,439 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total assets measured at fair value on a nonrecurring basis | 0 | 0 |
Construction [Member] | ||
Impaired loans: | ||
Impaired loans | 9,807 | 10,979 |
Construction [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Construction [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 9,807 | 10,979 |
Construction [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Residential Real Estate [Member] | ||
Impaired loans: | ||
Impaired loans | 7,744 | 7,510 |
Residential Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Residential Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 7,744 | 7,510 |
Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Commercial Real Estate [Member] | ||
Impaired loans: | ||
Impaired loans | 7,328 | 7,422 |
Commercial Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Commercial Real Estate [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 7,328 | 7,422 |
Commercial Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Commercial [Member] | ||
Impaired loans: | ||
Impaired loans | 154 | 161 |
Commercial [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Commercial [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 154 | 161 |
Commercial [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Consumer [Member] | ||
Impaired loans: | ||
Impaired loans | 121 | 115 |
Consumer [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired loans: | ||
Impaired loans | 0 | 0 |
Consumer [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired loans: | ||
Impaired loans | 121 | 115 |
Consumer [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired loans | $ 0 | $ 0 |
Fair Value Measurements (Deta56
Fair Value Measurements (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financial assets, Carrying Amount | ||||
Cash and cash equivalents, Carrying Amount | $ 73,626 | $ 73,811 | $ 75,958 | $ 96,223 |
Investment securities held to maturity, Carrying Amount | 3,996 | 4,191 | ||
Loans, net, Carrying Amount | 790,612 | 786,798 | ||
Financial liabilities, Carrying Amount | ||||
Deposits, Carrying Amount | 969,733 | 975,464 | ||
Short-term borrowings, Carrying Amount | 5,872 | 6,672 | ||
Financial assets, Estimated Fair Value | ||||
Investment securities held to maturity, Estimated Fair Value | 4,108 | 4,243 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets, Carrying Amount | ||||
Cash and cash equivalents, Carrying Amount | 73,626 | 73,811 | ||
Financial assets, Estimated Fair Value | ||||
Cash and cash equivalents, Estimated Fair Value | 73,626 | 73,811 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets, Carrying Amount | ||||
Investment securities held to maturity, Carrying Amount | 3,996 | 4,191 | ||
Loans, net, Carrying Amount | 790,612 | 786,798 | ||
Financial liabilities, Carrying Amount | ||||
Deposits, Carrying Amount | 969,733 | 975,464 | ||
Short-term borrowings, Carrying Amount | 5,872 | 6,672 | ||
Financial assets, Estimated Fair Value | ||||
Investment securities held to maturity, Estimated Fair Value | 4,108 | 4,243 | ||
Loans, net, Estimated Fair Value | 793,427 | 788,187 | ||
Financial liabilities, Estimated Fair Value | ||||
Deposits, Estimated Fair Value | 930,304 | 922,161 | ||
Short-term borrowings, Estimated Fair Value | $ 5,872 | $ 6,672 |
Financial Instruments with Of57
Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 182,613 | $ 166,931 |
Letters of credit | 8,064 | 7,087 |
Total | $ 190,677 | $ 174,018 |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Interest income | $ 9,908 | $ 9,445 | |
Interest expense | (665) | (906) | |
Provision for credit losses | (450) | (650) | |
Noninterest income | 4,541 | 4,085 | |
Noninterest expense | (9,339) | (9,704) | |
Net intersegment (expense) income | 0 | 0 | |
Income (loss) before taxes | 3,995 | $ 11,500 | 2,270 |
Income tax (expense) benefit | (1,535) | (861) | |
Net income (loss) | 2,460 | 1,409 | |
Total assets | 1,131,175 | $ 1,135,143 | 1,094,128 |
Community Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 9,846 | 9,394 | |
Interest expense | (665) | (906) | |
Provision for credit losses | (450) | (650) | |
Noninterest income | 1,830 | 1,666 | |
Noninterest expense | (5,297) | (5,527) | |
Net intersegment (expense) income | (1,936) | (1,993) | |
Income (loss) before taxes | 3,328 | 1,984 | |
Income tax (expense) benefit | (1,279) | (752) | |
Net income (loss) | 2,049 | 1,232 | |
Total assets | 1,103,842 | 1,068,367 | |
Insurance Products and Services [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 0 | 0 | |
Interest expense | 0 | 0 | |
Provision for credit losses | 0 | 0 | |
Noninterest income | 2,711 | 2,419 | |
Noninterest expense | (1,709) | (1,751) | |
Net intersegment (expense) income | (172) | (197) | |
Income (loss) before taxes | 830 | 471 | |
Income tax (expense) benefit | (319) | (179) | |
Net income (loss) | 511 | 292 | |
Total assets | 9,133 | 10,023 | |
Parent Company [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income | 62 | 51 | |
Interest expense | 0 | 0 | |
Provision for credit losses | 0 | 0 | |
Noninterest income | 0 | 0 | |
Noninterest expense | (2,333) | (2,426) | |
Net intersegment (expense) income | 2,108 | 2,190 | |
Income (loss) before taxes | (163) | (185) | |
Income tax (expense) benefit | 63 | 70 | |
Net income (loss) | (100) | (115) | |
Total assets | $ 18,200 | $ 15,738 |