Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 06, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FIRST NATIONAL COMMUNITY BANCORP INC | |
Trading Symbol | fncb | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 16,500,945 | |
Amendment Flag | false | |
Entity Central Index Key | 1,035,976 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 20,631 | $ 22,657 |
Interest-bearing deposits in other banks | 10,383 | 13,010 |
Total cash and cash equivalents | 31,014 | 35,667 |
Securities available for sale, at fair value | 249,228 | 218,989 |
Stock in Federal Home Loan Bank of Pittsburgh, at cost | 4,298 | 2,803 |
Loans held for sale | 4,634 | 603 |
Loans, net of allowance for loan and lease losses of $9,825 and $11,520 | 713,341 | 658,747 |
Bank premises and equipment, net | 11,258 | 11,003 |
Accrued interest receivable | 2,618 | 2,075 |
Intangible assets | 179 | 302 |
Bank-owned life insurance | 29,232 | 28,817 |
Other real estate owned | 1,618 | 2,255 |
Other assets | 7,799 | 8,768 |
Total assets | 1,055,219 | 970,029 |
Deposits: | ||
Demand (non-interest-bearing) | 152,038 | 124,064 |
Interest-bearing | 700,004 | 671,272 |
Total deposits | 852,042 | 795,336 |
Borrowed funds | ||
Federal Home Loan Bank of Pittsburgh advances | 93,058 | 61,194 |
Subordinated debentures | 14,000 | 25,000 |
Junior subordinated debentures | 10,310 | 10,310 |
Total borrowed funds | 117,368 | 96,504 |
Accrued interest payable | 11,187 | 10,262 |
Other liabilities | 14,989 | 16,529 |
Total liabilities | $ 995,586 | $ 918,631 |
Authorized: 20,000,000 shares at September 30, 2015 and December 31, 2014 | ||
Issued and outstanding: 0 shares at September 30, 2015 and December 31, 2014 | ||
Authorized: 50,000,000 shares at September 30, 2015 and December 31, 2014 | ||
Issued and outstanding: 16,500,945 shares, September 30, 2015 and 16,484,419 shares, December 31, 2014 | $ 20,626 | $ 20,605 |
Additional paid-in capital | 61,939 | 61,781 |
Accumulated deficit | (25,495) | (32,126) |
Accumulated other comprehensive income | 2,563 | 1,138 |
Total shareholders' equity | 59,633 | 51,398 |
Total liabilities and shareholders’ equity | $ 1,055,219 | $ 970,029 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Loans, allowance for loan and lease losses (in Dollars) | $ 9,825 | $ 11,520 |
Preferred shares, par value (in Dollars per share) | $ 1.25 | $ 1.25 |
Preferred shares, authorized | 20,000,000 | 20,000,000 |
Preferred shares, issued | 0 | 0 |
Preferred shares, outstanding | 0 | 0 |
Common shares, par value (in Dollars per share) | $ 1.25 | $ 1.25 |
Common shares, authorized | 50,000,000 | 50,000,000 |
Common shares, issued | 16,500,945 | 16,484,419 |
Common shares, outstanding | 16,500,945 | 16,484,419 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income | ||||
Interest and fees on loans | $ 6,693 | $ 6,852 | $ 19,640 | $ 19,958 |
Interest and dividends on securities: | ||||
U.S. government agencies | 1,061 | 893 | 3,044 | 2,496 |
State and political subdivisions, tax-free | 19 | 409 | 91 | 1,679 |
State and political subdivisions, taxable | 324 | 76 | 447 | 271 |
Other securities | 92 | 74 | 331 | 206 |
Total interest and dividends on securities | 1,496 | 1,452 | 3,913 | 4,652 |
Interest on interest-bearing deposits in other banks | 10 | 8 | 42 | 44 |
Total interest income | 8,199 | 8,312 | 23,595 | 24,654 |
Interest expense | ||||
Interest on deposits | 677 | 751 | 2,003 | 2,435 |
Interest on borrowed funds: | ||||
Interest on Federal Home Loan Bank of Pittsburgh advances | 128 | 125 | 367 | 334 |
Interest on subordinated debentures | 162 | 575 | 1,290 | 1,706 |
Interest on junior subordinated debentures | 50 | 50 | 150 | 149 |
Total interest on borrowed funds | 340 | 750 | 1,807 | 2,189 |
Total interest expense | 1,017 | 1,501 | 3,810 | 4,624 |
Net interest income before credit for loan and lease losses | 7,182 | 6,811 | 19,785 | 20,030 |
Credit for loan and lease losses | (191) | (54) | (340) | (5,629) |
Net interest income after credit for loan and lease losses | 7,373 | 6,865 | 20,125 | 25,659 |
Non-interest income | ||||
Deposit service charges | 799 | 781 | 2,218 | 2,217 |
Net gain on the sale of securities | 4 | 2,958 | 2,302 | 6,006 |
Net gain on the sale of mortgage loans held for sale | 13 | 57 | 69 | 223 |
Net loss on the sale of education loans | 0 | 0 | 0 | (13) |
Net gain on the sale of other real estate owned | 129 | 35 | 145 | 103 |
Gain on branch divestitures | 0 | 0 | 0 | 607 |
Loan-related fees | 94 | 101 | 290 | 292 |
Income from bank-owned life insurance | 145 | 165 | 415 | 496 |
Legal settlements | 184 | 2,127 | ||
Other | 195 | 345 | 720 | 799 |
Total non-interest income | 1,379 | 4,442 | 6,343 | 12,857 |
Non-interest expense | ||||
Salaries and employee benefits | 3,240 | 3,316 | 9,582 | 9,809 |
Occupancy expense | 500 | 438 | 1,665 | 1,554 |
Equipment expense | 408 | 355 | 1,234 | 1,068 |
Advertising expense | 86 | 109 | 335 | 353 |
Data processing expense | 471 | 508 | 1,420 | 1,556 |
Regulatory assessments | 203 | 266 | 711 | 1,389 |
Bank shares tax | 217 | 21 | 652 | 372 |
Expense of other real estate owned | 91 | 514 | 338 | 2,495 |
Legal expense | 80 | 268 | 331 | 1,428 |
Professional fees | 193 | 306 | 780 | 1,240 |
Insurance expenses | 128 | 196 | 528 | 757 |
Other operating expenses | 798 | 1,486 | 2,301 | 2,718 |
Total non-interest expense | 6,415 | 7,783 | 19,877 | 24,739 |
Income before income taxes | 2,337 | 3,524 | 6,591 | 13,777 |
Provision (credit) for income taxes | 166 | (40) | 326 | |
Net income | $ 2,337 | $ 3,358 | $ 6,631 | $ 13,451 |
Earnings per share | ||||
Basic (in Dollars per share) | $ 0.14 | $ 0.20 | $ 0.40 | $ 0.82 |
Diluted (in Dollars per share) | 0.14 | 0.20 | 0.40 | 0.82 |
Cash dividends declared per common share (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: | ||||
Basic (in Shares) | 16,500,945 | 16,471,569 | 16,497,373 | 16,471,569 |
Diluted (in Shares) | 16,500,945 | 16,471,569 | 16,497,373 | 16,471,851 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 2,337 | $ 3,358 | $ 6,631 | $ 13,451 |
Other comprehensive income (loss): | ||||
Unrealized gains (losses) on securities available for sale | 3,465 | (482) | 4,461 | 10,528 |
Taxes | (1,178) | 163 | (1,516) | (3,580) |
Net of tax amount | 2,287 | (319) | 2,945 | 6,948 |
Reclassification adjustment for gains included in net income | (4) | (2,958) | (2,302) | (5,638) |
Taxes | 1 | 1,006 | 782 | 1,917 |
Net of tax amount | (3) | (1,952) | (1,520) | (3,721) |
Total other comprehensive income (loss) | 2,284 | (2,271) | 1,425 | 3,227 |
Total comprehensive income | $ 4,621 | $ 1,087 | $ 8,056 | $ 16,678 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance, at Dec. 31, 2013 | $ 20,589 | $ 61,627 | $ (45,546) | $ (3,092) | $ 33,578 |
Balance, (in Shares) at Dec. 31, 2013 | 16,471,569 | ||||
Net income for the period | 13,451 | 13,451 | |||
Restricted stock awards | 65 | 65 | |||
Other comprehensive income, net of tax | 3,227 | 3,227 | |||
Balance, at Sep. 30, 2014 | $ 20,589 | 61,692 | (32,095) | 135 | 50,321 |
Balance, (in Shares) at Sep. 30, 2014 | 16,471,569 | ||||
Balance, at Dec. 31, 2014 | $ 20,605 | 61,781 | (32,126) | 1,138 | 51,398 |
Balance, (in Shares) at Dec. 31, 2014 | 16,484,419 | ||||
Net income for the period | 6,631 | 6,631 | |||
Common shares issued under long-term incentive compensation plan | $ 21 | (21) | |||
Common shares issued under long-term incentive compensation plan (in Shares) | 16,526 | ||||
Restricted stock awards | 179 | 179 | |||
Other comprehensive income, net of tax | 1,425 | 1,425 | |||
Balance, at Sep. 30, 2015 | $ 20,626 | $ 61,939 | $ (25,495) | $ 2,563 | $ 59,633 |
Balance, (in Shares) at Sep. 30, 2015 | 16,500,945 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Other comprehensive income, tax | $ 734 | $ 1,663 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating activities: | ||
Net income | $ 6,631 | $ 13,451 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Investment securities amortization, net | 1,173 | 953 |
Equity in trust | (5) | (4) |
Depreciation and amortization | 1,168 | 1,068 |
Stock-based compensation | 179 | 65 |
Credit for loan and lease losses | (340) | (5,629) |
Credit for off-balance sheet commitments | (27) | (201) |
Gain on the sale of available-for-sale securities | (2,302) | (5,638) |
Gain on the sale of held-to-maturity securities | (368) | |
Gain on the sale of loans held for sale | (69) | (223) |
Loss on the sale of education loans | 13 | |
Gain on branch divestitures | (607) | |
Loss on the disposition of bank premises and equipment and other assets | 352 | |
Gain on the sale of other real estate owned | (145) | (103) |
Valuation adjustment of other real estate owned | 208 | 2,199 |
Income from bank-owned life insurance | (415) | (496) |
Proceeds from the sale of loans held for sale | 1,982 | 6,806 |
Funds used to originate loans held for sale | (1,352) | (5,934) |
(Increase) decrease in accrued interest receivable | (543) | 33 |
Decrease (increase) in other assets | 829 | (64) |
Increase in accrued interest payable | 925 | 1,783 |
Decrease in other liabilities | (2,221) | (333) |
Total adjustments | (955) | (6,328) |
Net cash provided by operating activities | 5,676 | 7,123 |
Cash flows from investing activities: | ||
Maturities, calls and principal payments of available-for-sale securities | 7,326 | 5,965 |
Proceeds from the sale of available-for-sale securities | 78,765 | 78,582 |
Proceeds from the sale of held-to-maturity securities | 2,686 | |
Purchases of available-for-sale securities | (113,042) | (88,528) |
Purchase of Federal Home Loan Bank of Pittsburgh stock | (1,495) | (2,210) |
Proceeds from the sale of education loans | 2,537 | |
Net increase in loans to customers | (58,975) | (33,095) |
Proceeds from the sale of other real estate owned | 697 | 1,268 |
Proceeds from the sale of bank premises and equipment | 2,504 | |
Purchases of property and equipment | (1,175) | (982) |
Net cash used in investing activities | (87,899) | (31,273) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | 56,706 | (81,076) |
Net proceeds from Federal Home Loan Bank of Pittsburgh advances - overnight | 19,500 | |
Proceeds from Federal Home Loan Bank of Pittsburgh advances - term | 142,947 | 194,235 |
Repayment of Federal Home Loan Bank of Pittsburgh advances - term | (130,583) | (152,572) |
Principal reduction on subordinated debentures | (11,000) | |
Net cash provided by (used in) financing activities | 77,570 | (39,413) |
Net decrease in cash and cash equivalents | (4,653) | (63,563) |
Cash and cash equivalents at beginning of period | 35,667 | 103,556 |
Cash and cash equivalents at end of period | 31,014 | 39,993 |
Cash paid during the period for: | ||
Interest | 2,885 | 2,841 |
Income taxes | 22 | 238 |
Other transactions: | ||
Transferred to other real estate owned | 149 | 13 |
Change in deferred gain on sale of other real estate owned | (26) | 27 |
Principal balance of loans transferred to held for sale | $ 4,592 | |
Bank Premises [Member] | ||
Other transactions: | ||
Transferred to other real estate owned | $ 1,749 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. Basis of Presentation The consolidated financial statements are comprised of the accounts of First National Community Bancorp, Inc., and its wholly owned subsidiary, First National Community Bank (the “Bank”), as well as the Bank’s wholly owned subsidiaries (collectively, the “Company”). The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. In the opinion of management, all adjustments necessary for a fair presentation of the results for the three and nine month periods ended September 30, 2015 have been included in the consolidated financial statements. All intercompany balances and transactions have been eliminated in consolidation. Prior period amounts have been reclassified when necessary to conform to the current period’s presentation. These reclassifications did not have an impact on the operating results or financial position of the Company. The operating results and financial position of the Company for the three and nine months ended September 30, 2015 may not be indicative of its future results of operations and financial position. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to change in the near term are the allowance for loan and lease losses (“ALLL”), investment security valuations, the evaluation of investment securities and other real estate owned (“OREO”) for impairment, and the evaluation of deferred income taxes. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s audited financial statements, included in its Annual Report filed on Form 10-K as of and for the year ended December 31, 2014 (the “2014 Form 10-K”) and the Company’s Quarterly Reports filed on Form 10-Q for the periods ended March 31, 2015 and June 30, 2015. |
Note 2 - New Authoritative Acco
Note 2 - New Authoritative Accounting Guidance | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 2 . New Authoritative Accounting Guidance Accounting Standards Update (“ASU”) 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” clarifies that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (a) the creditor obtaining legal title to residential real estate property upon completion of a foreclosure or (b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The adoption of this guidance on January 1, 2015 did not have a material effect on the operating results or financial position of the Company. ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” changes the criteria for reporting a discontinued operation. Under the new guidance, a disposal of a component of an entity or group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. This new guidance reduces complexity by removing the complex and extensive implementation guidance and illustrations that are necessary to apply the current definition of a discontinued operation. The new guidance also requires expanded disclosures about discontinued operations that will provide users with more information about the assets, liabilities, revenues and expenses of a discontinued operation and will require pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting, which will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. The adoption of this guidance on January 1, 2015 did not have a material effect on the operating results or financial position of the Company. ASU 2014-11, Transfers and Servicing (Topic 860): “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures,” changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements by aligning the accounting for these transactions with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The new guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial assets and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward arrangement, which has resulted in outcomes referred to as off-balance sheet accounting. ASU 2014-11 also requires a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction, and requires expanded disclosure about the nature of the collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings. The adoption of this guidance on January 1, 2015 did not have a material effect on the operating results or financial position of the Company. ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): “Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure,” requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The adoption of this guidance on January 1, 2015 did not have a material effect on the operating results or financial position of the Company. Accounting Guidance to be Adopted in Future Periods ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Section A, “Summary and Amendments That Create Revenue from Contracts with Customers (Topic 606) and Other Assets and Deferred Costs-Contract with Customers (Subtopic 340-40);” Section B, “Conforming Amendments to Other Topics and Subtopics in the Codification and Status Tables;” and Section C, “Background Information and Basis for Conclusions,” provides a robust framework for addressing revenue recognition issues, upon its effective date, replaces almost all existing revenue recognition guidance, including industry specific guidance, in current GAAP. The core principle of ASU 2014-09 is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. ASU 2014-09 will also result in enhanced interim and annual disclosures, both qualitative and quantitative, about revenue in order to help financial statement users understand the nature, amount, timing and uncertainty of revenue and related cash flows. ASU 2014-09 is effective in annual reporting periods beginning after December 15, 2016 and the interim periods within that year for public business entities, not-for-profit entities that have issued, or are conduit bond obligors for, securities that are traded, listed or quoted on an exchange or over-the-counter market and employee benefit plans that file or furnish financial statements to the SEC. On August 12, 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): “Deferral of the Effective Date,” which defers the adoption of ASU 2014-09 for one year for all entities. Accordingly, the Company will adopt this guidance on January 1, 2018 in accordance with ASU 2015-14, and is currently evaluating the effect this guidance may have on its operating results or financial position. ASU 2014-12, Compensation – Stock Compensation (Topic 718): “Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period,” requires a performance target that affects vesting and that can be achieved after the requisite service period to be treated as a performance condition. To account for such awards, an entity should apply existing guidance as it relates to awards with performance conditions that affect vesting. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent compensation cost attributable to the period(s) for which the requisite service already has been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service periods. The total amount of compensation cost should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of this guidance on January 1, 2016 is not expected to have a material effect on the operating results or financial position of the Company. ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” defines management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and provide guidance for related footnote disclosures. ASU 2014-15 requires an entity’s management to assess the entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically ASU 2014-15: (1) provides a definition of the term substantial doubt; (2) requires an evaluation as to whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable); (3) provides principles for considering the mitigating effect of management’s plans; (4) requires certain disclosures when substantial doubt is alleviated; and (5) require an express statement and other disclosures when substantial doubt is not alleviated. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this guidance on December 31, 2016 is not expected to have a material effect on the operating results or financial position of the Company. ASU 2015-01, Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,” will alleviate uncertainty for preparers, auditors and regulators because auditors and regulators will no longer be required to evaluate whether a preparer presented an unusual and/or infrequent item appropriately. Although ASU 2015-01 eliminates the concept of extraordinary items, the presentation and disclosure guidance for items that are unusual in nature or infrequent in occurrence has been retained and has been expanded to include items that are both unusual in nature or infrequent in occurrence. The nature and financial effects of each event or transaction is required to be presented as a separate component of income from continuing operations or, alternatively, in the notes to the financial statements. ASU 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of this guidance is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The adoption of this guidance on January 1, 2016 is not expected to have a material effect on the operating results or financial position of the Company. ASU 2015-02, Consolidation (Topic 810): “Amendments to the Consolidation Analysis,” improves targeted areas of the consolidation guidance and reduces the number of consolidation models. The new consolidation standard changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (“VIE”), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. ASU 2015-02 is effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this guidance on January 1, 2016 is not expected to have a material effect on the operating results or financial position of the Company. ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): “Simplifying the Presentation of Debt Issuance Costs,” more closely aligns the presentation of debt issuance costs under U.S. GAAP with the presentation under comparable IFRS standards. Under ASU 2015-03, debt issuance costs related to a recognized debt liability will no longer be recorded as a separate asset, but will be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts. The costs will continue to be amortized to interest expense using the effective interest method. ASU 2015-03 is effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, and requires retrospective application to all prior periods presented in the financial statements. Early adoption of this guidance is permitted. The adoption of this guidance on January 1, 2016 is not expected to have a material effect on the operating results or financial position of the Company. ASU 2015-05, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement,” provides explicit guidance on a customer’s accounting for fees paid in a cloud computing environment. Specifically, the amendments in this ASU provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. ASU 2015-05 is effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption of this guidance is permitted. The adoption of this guidance on January 1, 2016 is not expected to have a material effect on the operating results or financial position of the Company. |
Note 3 - Regulatory Matters
Note 3 - Regulatory Matters | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 3. Regulatory Matters The Bank was under a Consent Order (the “Order”) from the Office of the Comptroller of the Currency (“OCC”) dated September 1, 2010. On March 25, 2015, after meeting all of the requirements of the Order, the Bank was fully and completely released from the Order. The Company was subject to a Written Agreement (the “Written Agreement”) with the Federal Reserve Bank of Philadelphia (the “Reserve Bank”) dated November 24, 2010. On September 8, 2015, the Company was notified by the Reserve Bank that effective September 2, 2015 it had been fully and completely released from the Written Agreement. The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices must be met. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. In July 2013, the Federal Reserve, the OCC and the FDIC approved the final Basel III capital framework for U.S. banking organizations (the “Regulatory Capital Rules”) implementing regulatory capital reforms and changes required by the Dodd-Frank Act. The Regulatory Capital Rules are effective on January 1, 2014; however, the mandatory compliance date for the Company and the Bank as “standardized approach” banking organizations began on January 1, 2015 and is subject to transitional provisions extending to January 1, 2019. The Regulatory Capital Rules include new risk-based capital and leverage ratios and refine the definition of what constitutes “capital” for purposes of calculating those ratios. The new minimum capital level requirements applicable to the Company and the Bank under the Regulatory Capital Rules are: ● a total risk-based capital ratio of 8.00% (unchanged from current rules); ● a Tier I risk-based capital ratio of 6.00% (increased from 4.00%); ● a new common equity Tier I risk-based capital ratio of 4.50%; and ● a Tier I capital to average assets (“Tier I leverage ratio”) of 4.00% for all institutions. The Regulatory Capital Rules also establish a “capital conservation buffer” above the new regulatory minimum capital requirements, which must consist entirely of common equity Tier I capital and result in the following minimum ratios effective January 1, 2019: ● a total risk-based capital ratio of 10.50%. ● a Tier I risk-based capital ratio of 8.50%; and ● a common equity Tier I risk-based capital ratio of 7.00%; The new capital conservation buffer requirement will be phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase by that amount each year until fully implemented in January 2019 at 2.50%. An institution will be subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations will establish a maximum percentage of eligible retained income that could be utilized for such actions. The Regulatory Capital Rules also implement revisions and clarifications consistent with Basel III regarding the various components of Tier I capital, including common equity, unrealized gains and losses, as well as certain instruments that will no longer qualify as Tier I capital, some of which will be phased out over time. The Regulatory Capital Rules also revise the prompt corrective action framework, which is designed to place restrictions on insured depository institutions, including the Bank, if their capital levels begin to show signs of weakness. These revisions took effect January 1, 2015. Under the prompt corrective action requirements, which are designed to complement the capital conservation buffer, insured depository institutions are required to meet the following increased capital level requirements in order to qualify as “well capitalized”: ● a total risk-based capital ratio of 10.00% (unchanged from current rules); ● a Tier I risk-based capital ratio of 8.00% (increased from 6.00%); ● a Tier I leverage ratio of 5.00%. The Regulatory Capital Rules set forth certain changes for the calculation of risk-weighted assets, which are required to be utilized beginning January 1, 2015. The provisions applicable to banking organizations under the “standardized approach” include changes with respect to risk weights for commercial real estate loans, past due exposures and conversion factors for commitments with an original maturity of one year or less. Current quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The Company’s and the Bank’s actual capital positions at September 30, 2015 and December 31, 2014 are presented in the following table: Capital Analysis September 30, December 31, (in thousands) 2015 2014 Company: Tier I common equity $ 56,964 N/A Tier I capital 66,964 $ 59,930 Tier II capital: Subordinated notes 9,800 25,000 Allowable portion of allowance for loan and lease losses 9,650 8,591 Total tier II capital 19,450 33,591 Total risk-based capital 86,414 93,521 Total risk-weighted assets $ 771,395 $ 683,956 Total average assets (for Tier I leverage ratio) $ 1,019,307 $ 990,346 Bank: Tier I common equity $ 92,821 N/A Tier I capital 92,821 $ 96,816 Tier II capital: Allowable portion of allowance for loan and lease losses 9,645 8,587 Total tier II capital 9,645 8,587 Total risk-based capital 102,466 105,403 Total risk-weighted assets $ 771,002 $ 683,576 Total average assets (for Tier I leverage ratio) $ 1,018,916 $ 990,407 The following tables present summary information regarding the Company’s and the Bank’s risk-based capital and related ratios at September 30, 2015 and December 31, 2014: Company Bank Minimum To Be Well (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio September 30, 2015 Total capital (to risk-weighted assets) $ 86,414 11.20 % $ 102,466 13.29 % 8.00 % 10.00 % Tier I capital (to risk-weighted assets) 66,964 8.68 % 92,821 12.04 % 6.00 % 8.00 % Tier I common equity (to risk-weighted assets) 56,964 7.38 % 92,821 12.04 % 4.50 % 6.50 % Tier I capital (to average assets) 66,964 6.57 % 92,821 9.11 % 4.00 % 5.00 % Company Bank Minimum To Be Well (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio December 31, 2014 Total capital (to risk-weighted assets) $ 93,521 13.67 % $ 105,403 15.42 % 8.00 % 10.00 % Tier I capital (to risk-weighted assets) 59,930 8.76 % 96,816 14.16 % 4.00 % 6.00 % Tier I capital (to average assets) 59,930 6.05 % 96,816 9.78 % 4.00 % 5.00 % *Applies to the Bank only. |
Note 4 - Loans
Note 4 - Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4. Loans The following table summarizes loans receivable, net, by category at September 30, 2015 and December 31, 2014: September 30, December 31, (in thousands) 2015 2014 Residential real estate $ 129,444 $ 122,832 Commercial real estate 249,526 233,473 Construction, land acquisition and development 25,516 18,835 Commercial and industrial 142,425 132,057 Consumer 132,418 122,092 State and political subdivisions 42,219 40,205 Total loans, gross 721,548 669,494 Unearned income (104 ) (98 ) Net deferred loan costs 1,722 871 Allowance for loan and lease losses (9,825 ) (11,520 ) Loans, net $ 713,341 $ 658,747 The Company has granted loans, letters of credit and lines of credit to certain executive officers and directors of the Company as well as to certain related parties of executive officers and directors. These loans, letters of credit and lines of credit were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and, when made, did not involve more than the normal risk of collectability. See Note 11 to these consolidated financial statements for more information about related party transactions. The Company originates one- to four-family mortgage loans for sale in the secondary market. During the three and nine month periods ended September 30, 2015, the Company sold $0.3 million and $1.9 million, respectively, of one- to four-family mortgages. The Company retains servicing rights on these mortgages. During 2015, as part of its asset/liability management strategy, the Company opted to retain up to $10.0 million in residential mortgages in the loan portfolio. Based on a change in strategy during the third quarter, the Company elected to transfer $4.6 million of loans previously retained in the portfolio to held for sale at September 30, 2015 and to sell, on the secondary market, all eligible residential mortgages originated going forward. The Company had $4.6 million and $603 thousand in residential mortgage loans held-for-sale at September 30, 2015 and December 31, 2014, respectively. The Company sold substantially all of its education loans, which are categorized as consumer loans, to a third party during the nine months ended September 30, 2014. The education loans had a recorded investment of $2.6 million at the time of sale. The Company recognized a loss of $13 thousand upon the sale of these loans which is included in non-interest income for the nine months ended September 30, 2014. The Company does not have any lending programs commonly referred to as subprime lending. Subprime lending generally targets borrowers with weakened credit histories typically characterized by payment delinquencies, previous charge-offs, judgments, bankruptcies, or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burden ratios. See Note 2 to the Company’s consolidated financial statements included in the 2014 Form 10-K for information about the risk characteristics related to the Company’s loan segments. The Company provides for loan losses based on the consistent application of its documented ALLL methodology. Loan losses are charged to the ALLL and recoveries are credited to it. Additions to the ALLL are provided by charges against income based on various factors which, in management’s judgment, deserve current recognition of estimated probable losses. Loan losses are charged-off in the period the loans, or portions thereof, are deemed uncollectible. Generally, the Company will record a loan charge-off (including a partial charge-off) to reduce a loan to the estimated recoverable amount based on its methodology detailed below. The Company regularly reviews the loan portfolio and makes adjustments for loan losses in order to maintain the ALLL in accordance with GAAP. The ALLL consists primarily of the following two components: (1) Specific allowances are established for impaired loans, which are defined by the Company as all loan relationships with an aggregate outstanding balance greater than $100 thousand that are rated substandard and on non-accrual status, rated doubtful or loss, and all troubled debt restructured loans (“TDRs”). The amount of impairment provided for as an allowance is represented by the deficiency, if any, between the carrying value of the loan and either (a) the present value of expected future cash flows discounted at the loan’s effective interest rate, (b) the loan’s observable market price, or (c) the fair value of the underlying collateral, less estimated costs to sell, for collateral dependent loans. Impaired loans that have no impairment losses are not considered for general valuation allowances described below. If the Company determines that collection of the impairment amount is remote, the Company will record a charge-off. (2) General allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired. The Company divides its portfolio into loan segments for loans exhibiting similar characteristics. Loans rated special mention or substandard and accruing, which are embedded in these loan segments, are then separated from these loan segments. These loans are then subject to an analysis placing increased emphasis on the credit risk associated with these specific loans. The Company applies an estimated loss rate to each loan segment. The loss rates applied are based on the Company’s own historical loss experience based on the loss rate for each segment of loans with similar risk characteristics in its portfolio. In addition, management evaluates and applies certain qualitative or environmental factors that are likely to cause estimated credit losses associated with the Company’s existing portfolio to differ from historical experience, which are discussed below. This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based upon changes in economic and real estate market conditions. Actual loan losses may be significantly more than the ALLL that is established, which could have a material negative effect on the Company’s operating results or financial condition. Management makes adjustments for loan losses based on its evaluation of several qualitative and environmental factors, including but not limited to: ● changes in national, local, and business economic conditions and developments, including the condition of various market segments; ● changes in the nature and volume of the Company’s loan portfolio; ● changes in the Company’s lending policies and procedures, including underwriting standards, collection, charge-off and recovery practices and results; ● changes in the experience, ability and depth of the Company’s lending management and staff; ● changes in the quality of the Company's loan review system and the degree of oversight by the Company’s Board of Directors; ● changes in the trend of the volume and severity of past due and classified loans, including trends in the volume of non-accrual loans, troubled debt restructurings and other loan modifications; ● the existence and effect of any concentrations of credit and changes in the level of such concentrations; ● the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Company's current loan portfolio; and ● analysis of customers’ credit quality, including knowledge of their operating environment and financial condition. Each quarter, management evaluates the ALLL and adjusts the ALLL as appropriate through a provision for loan losses. While the Company uses the best information available to make evaluations, future adjustments to the ALLL may be necessary if conditions differ substantially from the information used in making the evaluations. In addition, as an integral part of its examination process, the OCC periodically reviews the Company’s ALLL. The OCC may require the Company to adjust the ALLL based on its analysis of information available to it at the time of its examination. Based on its evaluation of the ALLL, management established an unallocated reserve of $68 thousand and $45 thousand at September 30, 2015 and December 31, 2014, respectively. As previously mentioned, as part of its evaluation, management applies loss rates to each loan segment of the loan portfolio for each quarter over the previous three years, which have resulted in overall negative historical loss factors and consequently related negative provisions for the commercial and industrial loan segment at September 30, 2015 and the construction, land acquisition and development loan segment at December 31, 2014. Based on the higher risk characteristics inherent in this segment of the portfolio, management reversed the negative provisions related to the negative historical loss factors and established the unallocated reserves. The following table summarizes activity in the ALLL, by loan category, for the three and nine months ended September 30, 2015 and 2014: Real Estate (in thousands) Residential Commercial Construction, Land Acquisition and Commercial Consumer State and Unallocated Total Three months ended September 30, 2015: Allowance for loan losses: Beginning balance, July 1, 2015 $ 1,484 $ 4,041 $ 778 $ 1,878 $ 1,643 $ 504 $ - $ 10,328 Charge-offs (66 ) - (683 ) (21 ) (198 ) - - (968 ) Recoveries 23 278 - 140 215 - - 656 Provisions (credits) (132 ) (84 ) 874 (738 ) (147 ) (32 ) 68 (191 ) Ending balance, September 30, 2015 $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Three months ended September 30, 2014: Allowance for loan losses: Beginning balance, July 1, 2014 $ 2,112 $ 5,133 $ 923 $ 1,758 $ 1,681 $ 568 $ - $ 12,175 Charge-offs (67 ) - - (22 ) (270 ) - - (359 ) Recoveries 9 - - 69 58 - - 136 Provisions (credits) (307 ) 128 (148 ) - 258 15 - (54 ) Ending balance, September 30, 2014 $ 1,747 $ 5,261 $ 775 $ 1,805 $ 1,727 $ 583 $ - $ 11,898 Nine months ended September 30, 2015: Allowance for loan losses: Beginning balance, January 1, 2015 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Charge-offs (135 ) (912 ) (689 ) (163 ) (538 ) - - (2,437 ) Recoveries 34 296 - 307 445 - - 1,082 Provisions (credits) (362 ) 188 993 (989 ) (67 ) (126 ) 23 (340 ) Ending balance, September 30, 2015 $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Nine months ended September 30, 2014: Allowance for loan losses: Beginning balance, January 1, 2014 $ 2,287 $ 6,017 $ 924 $ 2,321 $ 1,789 $ 679 $ - $ 14,017 Charge-offs (152 ) - - (172 ) (637 ) - - (961 ) Recoveries 79 355 3,539 195 303 - - 4,471 Provisions (credits) (467 ) (1,111 ) (3,688 ) (539 ) 272 (96 ) - (5,629 ) Ending balance, September 30, 2014 $ 1,747 $ 5,261 $ 775 $ 1,805 $ 1,727 $ 583 $ - $ 11,898 The following table represents the allocation of the ALLL and the related loan balance, by loan category, disaggregated based on the impairment methodology at September 30, 2015 and December 31, 2014: Real Estate (in thousands) Residential Commercial Construction, Commercial Consumer State and Unallocated Total September 30, 2015 Allowance for loan losses: Individually evaluated for impairment $ 5 $ 303 $ - $ - $ 2 $ - $ - $ 310 Collectively evaluated for impairment 1,304 3,932 969 1,259 1,511 472 68 9,515 Total $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Loans receivable: Individually evaluated for impairment $ 2,386 $ 7,470 $ 704 $ 207 $ 353 $ - $ - $ 11,120 Collectively evaluated for impairment 127,058 242,056 24,812 142,218 132,065 42,219 - 710,428 Total $ 129,444 $ 249,526 $ 25,516 $ 142,425 $ 132,418 $ 42,219 $ - $ 721,548 December 31, 2014 Allowance for loan losses: Individually evaluated for impairment $ 51 $ 331 $ 1 $ - $ 1 $ - $ - $ 384 Collectively evaluated for impairment 1,721 4,332 664 2,104 1,672 598 45 11,136 Total $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Loans receivable: Individually evaluated for impairment $ 2,487 $ 6,660 $ 256 $ 32 $ 361 $ - $ - $ 9,796 Collectively evaluated for impairment 120,345 226,813 18,579 132,025 121,731 40,205 - 659,698 Total $ 122,832 $ 233,473 $ 18,835 $ 132,057 $ 122,092 $ 40,205 $ - $ 669,494 Credit Quality Indicators – Commercial Loans Management continuously monitors the credit quality of the Company’s commercial loans by regularly reviewing certain credit quality indicators. Management utilizes credit risk ratings as the key credit quality indicator for evaluating the credit quality of the Company’s loan receivables. The Company’s commercial loan classification and credit grading processes are part of the lending, underwriting, and credit administration functions to ensure an ongoing assessment of credit quality. Accurate and timely loan classification and credit grading is a critical component of loan portfolio management. Loan officers are required to review their loan portfolio risk ratings regularly for accuracy. The loan review function uses the same risk rating system in the loan review process. Quarterly, the Company engages an independent third party to assess the quality of the loan portfolio and evaluate the accuracy of ratings with the loan officer’s and management’s assessment. A formal loan classification and credit grading system reflects the risk of default and credit losses. A written description of the risk ratings is maintained that includes a discussion of the factors used to assign appropriate classifications of credit grades to loans. The process identifies groups of loans that warrant the special attention of management. The risk grade groupings provide a mechanism to identify risk within the loan portfolio and provide management and the Board with periodic reports by risk category. The credit risk ratings play an important role in the establishment and evaluation of the provision for loan and lease losses and the ALLL. After determining the historical loss factor which is adjusted for qualitative and environmental factors for each portfolio segment, the portfolio segment balances that have been collectively evaluated for impairment are multiplied by the general reserve loss factor for the respective portfolio segments to determine the general reserve. Loans that have an internal credit rating of special mention or substandard follow the same process; however, the qualitative and environmental factors are further adjusted for the increased risk. The Company utilizes a loan rating system that assigns a degree of risk to commercial loans based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. Management analyzes these non-homogeneous loans individually by grading the loans as to credit risk and probability of collection for each type of loan. Commercial loans include commercial indirect auto loans which are not individually risk rated, and construction, land acquisition and development loans include residential construction loans which are also not individually risk rated. These loans are monitored on a pool basis due to their homogeneous nature as described in “Credit Quality Indicators – Other Loans” below. The Company risk rates certain residential real estate loans and consumer loans that are part of a larger commercial relationship using its credit grading system as described in “Credit Quality Indicators – Commercial Loans.” The grading system contains the following basic risk categories: 1. Minimal Risk 2. Above Average Credit Quality 3. Average Risk 4. Acceptable Risk 5. Pass - Watch 6. Special Mention 7. Substandard - Accruing 8. Substandard - Non-Accrual 9. Doubtful 10. Loss This analysis is performed on a quarterly basis using the following definitions for risk ratings: Pass - Assets rated 1 through 5 are considered pass ratings. These assets show no current or potential problems and are considered fully collectible. All such loans are considered collectively for ALLL calculation purposes. However, accruing TDRs that have been performing for an extended period of time, do not represent a higher risk of loss, and have been upgraded to a pass rating are evaluated individually for impairment. Special Mention – Assets classified as special mention assets do not currently expose the Company to a sufficient degree of risk to warrant an adverse classification but do possess credit deficiencies or potential weaknesses deserving close attention. Special Mention assets have a potential weakness or pose an unwarranted financial risk which, if not corrected, could weaken the asset and increase risk in the future. Substandard - Assets classified as substandard have well defined weaknesses based on objective evidence, and are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful - Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable based on current circumstances. Loss - Assets classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted. Credit Quality Indicators – Other Loans Certain residential real estate loans, consumer loans, and commercial indirect auto loans are monitored on a pool basis due to their homogeneous nature. Loans that are delinquent 90 days or more are placed on non-accrual status unless the collection of the loan is in process and reasonably assured. The Company utilizes accruing versus non-accrual status as the credit quality indicator for these loan pools. The following tables present the recorded investment in loans receivable by loan category and credit quality indicator at September 30, 2015 and December 31, 2014: Credit Quality Indicators September 30, 2015 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 21,120 $ 405 $ 993 $ - $ - $ 22,518 $ 106,411 $ 515 $ 106,926 $ 129,444 Commercial real estate 224,342 13,371 11,813 - - 249,526 - - - 249,526 Construction, land acquisition and development 18,157 362 6,068 - - 24,587 929 - 929 25,516 Commercial and industrial 134,970 935 2,399 - - 138,304 4,116 5 4,121 142,425 Consumer 3,101 15 116 - - 3,232 129,045 141 129,186 132,418 State and political subdivisions 41,604 120 495 - - 42,219 - - - 42,219 Total $ 443,294 $ 15,208 $ 21,884 $ - $ - $ 480,386 $ 240,501 $ 661 $ 241,162 $ 721,548 Credit Quality Indicators December 31, 2014 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 19,892 $ 451 $ 1,077 $ - $ - $ 21,420 $ 100,576 $ 836 $ 101,412 $ 122,832 Commercial real estate 204,252 13,217 16,004 - - 233,473 - - - 233,473 Construction, land acquisition and development 10,910 1,423 5,566 - - 17,899 936 - 936 18,835 Commercial and industrial 122,261 1,962 2,397 - - 126,620 5,437 - 5,437 132,057 Consumer 3,414 - 125 - - 3,539 118,377 176 118,553 122,092 State and political subdivisions 38,685 925 595 - - 40,205 - - - 40,205 Total $ 399,414 $ 17,978 $ 25,764 $ - $ - $ 443,156 $ 225,326 $ 1,012 $ 226,338 $ 669,494 Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers. The recorded investment in these non-accrual loans was $6.7 million and $5.5 million at September 30, 2015 and December 31, 2014, respectively. Generally, loans are placed on non-accrual status when they become 90 days or more delinquent, and remain on non-accrual status until they are brought current, have six months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist. Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent and still be on a non-accrual status. There were no loans past due 90 days or more and still accruing at September 30, 2015 and December 31, 2014. The following tables present the delinquency status of past due and non-accrual loans at September 30, 2015 and December 31, 2014: September 30, 2015 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 128,558 $ 147 $ 4 $ - $ 128,709 Commercial real estate 243,837 95 276 - 244,208 Construction, land acquisition and development 25,147 - - - 25,147 Total real estate 397,542 242 280 - 398,064 Commercial and industrial 141,858 250 139 - 142,247 Consumer 130,792 1,245 240 - 132,277 State and political subdivisions 42,052 167 - - 42,219 Total performing (accruing) loans 712,244 1,904 659 - 714,807 Non-accrual loans: Real estate: Residential real estate 406 63 - 266 735 Commercial real estate 1,634 - 119 3,565 5,318 Construction, land acquisition and development - 369 - - 369 Total real estate 2,040 432 119 3,831 6,422 Commercial and industrial 110 - - 68 178 Consumer 36 33 6 66 141 State and political subdivisions - - - - - Total non-accrual loans 2,186 465 125 3,965 6,741 Total loans receivable $ 714,430 $ 2,369 $ 784 $ 3,965 $ 721,548 December 31, 2014 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 121,407 $ 420 $ - $ - $ 121,827 Commercial real estate 229,207 136 - - 229,343 Construction, land acquisition and development 18,740 - 95 - 18,835 Total real estate 369,354 556 95 - 370,005 Commercial and industrial 131,621 90 135 - 131,846 Consumer 120,204 1,334 378 - 121,916 State and political subdivisions 40,205 - - - 40,205 Total peforming (accruing) loans 661,384 1,980 608 - 663,972 Non-accrual loans: Real estate: Residential real estate 495 99 17 394 1,005 Commercial real estate 288 3,628 19 195 4,130 Construction, land acquisition and development - - - - - Total real estate 783 3,727 36 589 5,135 Commercial and industrial 55 - 52 104 211 Consumer 42 - 58 76 176 State and political subdivisions - - - - - Total non-accrual loans 880 3,727 146 769 5,522 Total loans receivable $ 662,264 $ 5,707 $ 754 $ 769 $ 669,494 The following tables present a distribution of the recorded investment, unpaid principal balance and the related allowance for the Company’s impaired loans, which have been analyzed for impairment under ASC 310, at September 30, 2015 and December 31, 2014. Non-accrual loans, other than TDRs, with aggregate loan relationship balances less than the $100 thousand loan relationship threshold are not evaluated individually for impairment and are accordingly not included in the following tables. However, these loans are evaluated collectively for impairment as homogenous pools in the general allowance under ASC Topic 450. Total non-accrual loans, other than TDRs, with balances less than the $100 thousand loan relationship threshold, that were evaluated under ASC Topic 450 amounted to $0.7 million and $1.0 million at September 30, 2015 and December 31, 2014, respectively. September 30, 2015 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Real estate: Residential real estate $ 819 $ 890 $ - Commercial real estate 5,462 7,089 - Construction, land acquisition and development 704 1,052 - Total real estate 6,985 9,031 - Commercial and industrial 207 236 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 7,192 9,267 - With a related allowance recorded: Real estate: Residential real estate 1,567 1,567 5 Commercial real estate 2,008 2,008 303 Construction, land acquisition and development - - - Total real estate 3,575 3,575 308 Commercial and industrial - - - Consumer 353 353 2 State and political subdivisions - - - Total impaired loans with a related allowance recorded 3,928 3,928 310 Total impaired loans: Real estate: Residential real estate 2,386 2,457 5 Commercial real estate 7,470 9,097 303 Construction, land acquisition and development 704 1,052 - Total real estate 10,560 12,606 308 Commercial and industrial 207 236 - Consumer 353 353 2 State and political subdivisions - - - Total impaired loans $ 11,120 $ 13,195 $ 310 December 31, 2014 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Real estate: Residential real estate $ 385 $ 410 $ - Commercial real estate 4,401 5,024 - Construction, land acquisition and development 68 68 - Total real estate 4,854 5,502 - Commercial and industrial 32 59 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,886 5,561 - With a related allowance recorded: Real estate: Residential real estate 2,102 2,137 51 Commercial real estate 2,259 2,259 331 Construction, land acquisition and development 188 188 1 Total real estate 4,549 4,584 383 Commercial and industrial - - - Consumer 361 361 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,910 4,945 384 Total impaired loans: Real estate: Residential real estate 2,487 2,547 51 Commercial real estate 6,660 7,283 331 Construction, land acquisition and development 256 256 1 Total real estate 9,403 10,086 383 Commercial and industrial 32 59 - Consumer 361 361 1 State and political subdivisions - - - Total impaired loans $ 9,796 $ 10,506 $ 384 The total recorded investment in impaired loans, which consists of non-accrual loans with an aggregate loan relationship of greater than $100,000 and TDRs, amounted to $11.1 million and $9.8 million at September 30, 2015 and December 31, 2014, respectively. The related allowance recorded for impaired loans was $0.3 million and $0.4 million at September 30, 2015 and December 31, 2014, respectively. The following table presents the average balance and interest income recognized on impaired loans by loan category for the three and nine months ended September 30, 2015 and 2014: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,413 $ 28 $ 2,490 $ 25 $ 2,659 $ 92 $ 2,144 $ 62 Commercial real estate 7,017 24 6,628 30 6,884 82 6,613 91 Construction, land acquisition and development 459 5 273 4 465 14 293 12 Total real estate 9,889 57 9,391 59 10,008 188 9,050 165 Commercial and industrial 140 1 66 - 142 1 98 - Consumer 354 3 363 3 357 9 337 8 State and political subdivisions - - - - - - - - Total impaired loans $ 10,383 $ 61 $ 9,820 $ 62 $ 10,507 $ 198 $ 9,485 $ 173 (1) Interest income represents income recognized on performing TDRs. The additional interest income that would have been earned on non-accrual and restructured loans in accordance with their original terms approximated $112 thousand and $298 thousand for the three and nine months ended September 30, 2015, respectively, and $100 thousand and $307 thousand for the three and nine months ended September 30, 2014, respectively. Troubled Debt Restructured Loans TDRs at September 30, 2015 and December 31, 2014 were $9.4 million and $9.0 million, respectively. Accruing and non-accruing TDRs were $5.1 million and $4.3 million, respectively at September 30, 2015 and $5.3 million and $3.7 million, respectively at December 31, 2014. Approximately $310 thousand and $346 thousand in specific reserves have been established for these loans as of September 30, 2015 and December 31, 2014, respectively. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan, an extension of the maturity date, capitalization of real estate taxes, or a permanent reduction of the recorded investment in the loan. The following tables show the pre- and post-modification recorded investment in loans modified as TDRs by loan category during the three and nine months ended September 30, 2015 and 2014: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (dollars in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate - $ - $ - 5 $ 810 $ 827 Commercial real estate - - - 1 1,654 742 Construction, land acquisition and development - - - 1 96 96 Commercial and industrial 1 79 79 1 79 79 Consumer - - - - - - State and political subdivisions - - - - - - Total new troubled debt restructurings 1 $ 79 $ 79 8 $ 2,639 $ 1,744 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (dollars in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate 6 $ 411 $ 413 12 $ 780 $ 862 Commercial real estate - - - 4 238 238 Construction, land acquisition and development - - - - - - Commercial and industrial - - - - - - Consumer - - - 2 182 187 State and political subdivisions - - - - - - Total new troubled debt restructurings 6 $ 411 $ 413 18 $ 1,200 $ 1,287 During the nine months ended September 30, 2015, there was one commercial real estate loan that was modified with a recorded investment prior to modification of $1.7 million. Pursuant to the modification, management conducted an analysis and determined that there was impairment on the loan. Accordingly, the Company recorded a $912 thousand partial charge-off related to this TDR. Although the eight loans modified as TDRs during the nine months ended September 30, 2015 did not result in an increase to the specific reserve in the ALLL at September 30, 2015, charge-offs resulting from the modified TDRs totaled $912 thousand for the nine months ended September 30, 2015. The following tables present the types of modifications made during the three and nine months ended September 30, 2015 and 2014: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ - $ - $ - $ - $ - $ 709 $ 118 $ - $ - $ 827 Commercial real estate - - - - - - - - 1,654 1,654 Construction, land acquisition and development - - - - - 96 - - - 96 Commercial and industrial - - - 79 79 - - - 79 79 Consumer - - - - - - - - - - State and political subdivisions - - - - - - - - - - Total modifications $ - $ - $ - $ 79 $ 79 $ 805 $ 118 $ - $ 1,733 $ 2,656 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 148 $ 40 $ - $ 225 $ 413 $ 263 $ 339 $ 35 $ 225 $ 862 Commercial real estate - - - - - 238 - - - 238 Construction, land acquisition and development - - - - - - - - - - Commercial and industrial - - - - - - - - - - Consumer - - - - - 135 52 - - 187 State and political subdivisions - - - - - - - - - - Total modifications $ 148 $ 40 $ - $ 225 $ 413 $ 636 $ 391 $ 35 $ 225 $ 1,287 There were no TDRs that re-defaulted (defined as past due 90 days) during the three months ended September 30, 2015. There was one TDR with a recorded investment of $3.5 million that re-defaulted during the nine months ended September 30, 2015. The re-default did not occur within one year of the original modification. There were no TDRs which re-defaulted during the three and nine months ended September 30, 2014 and for which the payment re-d |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | Note 5. Other Real Estate Owned The following table presents the composition of OREO at September 30, 2015 and December 31, 2014: September 30, December 31, (in thousands) 2015 2014 Land/lots $ 803 $ 1,287 Commercial real estate 788 941 Residential real estate 27 27 Total other real estate owned $ 1,618 $ 2,255 The following table presents the activity in OREO for the three and nine months ended September 30, 2015 and 2014: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 1,740 $ 3,182 $ 2,255 $ 4,246 Property foreclosures - - 149 13 Bank premises transferred to OREO - - - 1,749 Valuation adjustments (78 ) (429 ) (208 ) (2,199 ) Carrying value of OREO sold (44 ) (136 ) (578 ) (1,192 ) Balance, end of period $ 1,618 $ 2,617 $ 1,618 $ 2,617 At September 30, 2015, OREO consisted of 10 properties with an aggregate carrying value of $1.6 million, a decrease of $0.7 million, or 28.2%, from $2.3 million at December 31, 2014. There were two properties with a carrying value of $149 thousand foreclosed upon during the nine months ended September 30, 2015. Comprising $1.4 million, or 85.0%, of the outstanding balance of OREO at September 30, 2015 were three properties that were originally held in bank premises and equipment and due to a change in strategic purpose were transferred to OREO in 2014. During the nine months ended September 30, 2015, there were six sales and one partial sale of properties with an aggregate carrying value of $0.6 million. The Company realized net gains on the sale of these properties of $145 thousand, which is included in non-interest income. During the nine months ended September 30, 2014, the Company foreclosed on one property with a carrying value of $13 thousand. There were five sales and two partial sales of properties with an aggregate carrying value of $1.2 million during the nine months ended September 30, 2014. The Company realized net gains on the sale of these properties of $103 thousand for the nine months ended September 30, 2014, which is included in non-interest income. During the nine months ended September 30, 2014, the Company transferred four properties located in Monroe County, Pennsylvania, including its former Stroudsburg office and three pieces of vacant land from bank premises and equipment to OREO for disposition due to a change in strategic purpose. At the time of transfer, the four properties had an aggregate carrying value of $3.4 million. During the nine months ended September 30, 2014, one of the properties was subsequently sold and two of the other properties, the Stroudsburg property and one of the parcels, were written down in aggregate $1.2 million to their appraised values, less cost to sell. During the nine months ended September 30, 2015, these three remaining properties were reappraised, and due to continued decline in real estate values in Monroe County, Pennsylvania, the Company incurred additional valuation adjustments totaling $158 thousand. Valuation adjustments, which are included in non-interest expense, totaled $0.1 million and $0.2 million for the three months and nine months ended September 30, 2015, respectively, and $0.4 million and $2.2 million for the respective periods of 2014. The Company actively markets all OREO properties for sale through a variety of channels including internal marketing and the use of outside brokers/realtors. The carrying value of OREO is generally calculated at an amount not greater than 90% of the most recent fair market appraised value. A 10% factor is generally used to estimate costs to sell, which is based on typical cost factors, such as 6% broker commission, 1% transfer taxes, and 3% various other miscellaneous costs associated with the sales process. This market value is updated on an annual basis or more frequently if new valuation information is available. Further deterioration in the real estate market could result in additional losses on these properties. The following table presents the components of net expense of OREO for the three and nine months ended September 30, 2015 and 2014: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Insurance $ 19 $ 26 $ 51 $ 66 Legal fees (6 ) 14 33 38 Maintenance - 2 3 17 Professional fees 3 5 4 83 Real estate taxes 8 28 21 123 Utilities 1 4 14 8 Other (12 ) 6 5 11 Valuation adjustments 78 429 208 2,199 Total expense 91 514 339 2,545 Income from the operation of foreclosed properties - - (1 ) (50 ) Net expense of OREO $ 91 $ 514 $ 338 $ 2,495 There were four consumer mortgage loans that were in the process of foreclosure at September 30, 2015 with a total carrying value of $117 thousand. There were two residential real estate properties with a carrying value of $149 thousand that were foreclosed upon during the nine months ended September 30, 2015. There were two residential properties with an aggregate carrying value of $27 thousand included in OREO at September 30, 2015 and December 31, 2014. |
Note 6 - Securities
Note 6 - Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 6. Securities Securities have been classified as available-for-sale or held-to-maturity in the consolidated financial statements according to management’s intent. The following tables present the amortized cost, gross unrealized gains and losses, and the fair value of the Company’s securities at September 30, 2015 and December 31, 2014: September 30, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding (in thousands) Cost Gains Losses Fair Value Available-for-sale: Obligations of U.S. government agencies $ 43,788 $ 912 $ - $ 44,700 Obligations of state and political subdivisions 55,209 955 12 56,152 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 23,058 489 3 23,544 Collateralized mortgage obligations - commercial 90,158 1,190 9 91,339 Residential mortgage-backed securities 28,449 489 - 28,938 Corporate debt securities 500 - 74 426 Negotiable certificates of deposit 3,173 2 4 3,171 Equity securities 1,010 - 52 958 Total available-for-sale securities $ 245,345 $ 4,037 $ 154 $ 249,228 December 31, 2014 Gross Gross Unrealized Unrealized Amortized Holding Holding (in thousands) Cost Gains Losses Fair Value Available-for-sale: Obligations of U.S. government agencies $ 29,246 $ 77 $ 47 $ 29,276 Obligations of state and political subdivisions 23,132 1,380 3 24,509 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 26,129 103 1 26,231 Collateralized mortgage obligations - commercial 61,017 492 253 61,256 Residential mortgage-backed securities 73,998 441 341 74,098 Corporate debt securities 500 - 80 420 Negotiable certificates of deposit 2,232 - - 2,232 Equity securities 1,010 - 43 967 Total available-for-sale securities $ 217,264 $ 2,493 $ 768 $ 218,989 At September 30, 2015 and December 31, 2014, securities with a carrying amount of $247.8 million and $217.6 million, respectively, were pledged as collateral to secure public deposits and for other purposes. The following table shows the amortized cost and approximate fair value of the Company’s available-for-sale debt securities at September 30, 2015 using contractual maturities. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Because collateralized mortgage obligations and residential mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary. September 30, 2015 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ - $ - After one year through five years 21,743 22,130 After five years through ten years 78,215 79,648 After ten years 2,712 2,671 Collateralized mortgage obligations 113,216 114,883 Residential mortgage-backed securities 28,449 28,938 Total $ 244,335 $ 248,270 Gross proceeds from the sale of available-for-sale securities were $5.3 million and $78.8 million, respectively, for the three and nine months ended September 30, 2015, with gross gains of $4 thousand and $2.3 million, respectively, realized upon the sales. There were no gross losses realized upon the sales for the three months ended September 30, 2015. The Company realized gross losses of $4 thousand upon the sales for the nine months ended September 30, 2015. Gross proceeds from the sale of available-for-sale securities were $40.0 million and $78.6 million, respectively, for the three and nine months ended September 30, 2014. Gross realized gains were $2.9 million and $5.6 million, respectively, for the three and nine months ended September 30, 2014. There were no losses realized upon the sales for the three and nine months ended September 30, 2014. In the first quarter of 2014, the Company sold its entire held-to-maturity portfolio consisting of four obligations of state and political subdivisions with an aggregate amortized cost of $2.3 million. Gross proceeds received from the sale of the held-to-maturity portfolio were $2.7 million for the nine months ended September 30, 2014, with gross gains of $0.4 million realized upon the sale. The four securities were tax-exempt, zero-coupon bonds of California municipalities. These securities were sold as part of management’s strategy to reduce the amount of potential credit and concentration risk within the investment portfolio, and as part of tax planning strategies aimed at reducing the amount of tax-exempt securities. The following tables present the length of time that individual available-for-sale securities have been in a continuous unrealized loss position at September 30, 2015 and December 31, 2014: September 30, 2015 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 1 1,513 7 1 261 5 2 1,774 12 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 812 3 - - - 2 812 3 Collateralized mortgage obligations - commercial 2 5,169 9 - - - 2 5,169 9 Residential mortgage-backed securities - - - - - - - - - Corporate debt securities - - - 1 426 74 1 426 74 Negotiable certificates of deposit 6 1,433 4 - - - 6 1,433 4 Equity securities - - - 1 948 52 1 948 52 Total 11 $ 8,927 $ 23 3 $ 1,635 $ 131 14 $ 10,562 $ 154 December 31, 2014 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies 2 $ 9,513 $ 47 - $ - $ - 2 $ 9,513 $ 47 Obligations of state and political subdivisions - - - 1 254 3 1 254 3 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 653 1 - - - 1 653 1 Collateralized mortgage obligations - commerical 7 32,513 105 3 8,693 148 10 41,206 253 Residential mortgage-backed securities 3 16,659 56 6 37,619 285 9 54,278 341 Corporate debt securities - - - 1 420 80 1 420 80 Negotiable certificates of deposit - - - - - - - - - Equity securities - - - 1 957 43 1 957 43 Total 13 $ 59,338 $ 209 12 $ 47,943 $ 559 25 $ 107,281 $ 768 Management evaluates individual securities in an unrealized loss position quarterly for other than temporary impairment (“OTTI”). As part of its evaluation, management considers, among other things, the length of time a security’s fair value is less than amortized cost, the severity of decline, any credit deterioration of the issuer, whether or not management intends to sell the security, and whether it is more likely than not that the Company will be required to sell the security prior to recovery of its amortized cost. Securities issued by U.S. government or U.S. government-sponsored agencies, including single-maturity bonds, residential mortgage-backed securities, and residential and commercial CMOs, and obligations of state and political subdivisions, comprise the majority of the Company’s securities portfolio. Management performed a review of the fair values of all securities in an unrealized loss position as of September 30, 2015 and determined that movements in the fair values of the securities were consistent with the change in market interest rates. At September 30, 2015, the Company held 14 securities that were in an unrealized loss position, with 3 of those securities in an unrealized loss position for more than 12 months. All but one of the securities in an unrealized loss position at September 30, 2015 were debt securities. Additionally, management considers the severity of each security’s unrealized loss position, placing greater emphasis on any security with an unrealized loss greater than 5.0% of its amortized cost. At September 30, 2015, there were two securities, a corporate debt security and an equity security, with an unrealized loss greater than 5.0% of its amortized cost. The corporate debt security, a floating rate bond of a large money center bank, had an unrealized loss of $74 thousand, or 14.8% of its amortized cost, at September 30, 2015. This bank was considered well capitalized under regulatory capital guidelines at September 30, 2015. The equity security, a mutual fund investment comprised of one- to four-family residential mortgage-backed securities collateralized by properties within the Company’s geographical market, had an unrealized loss of $52 thousand, or 5.2% of its amortized cost, at September 30, 2015. This mutual fund, which provides the Company with credit under the Community Reinvestment Act, has a one- and three-year return of 3.34% and 1.80%, and is rated four stars by Morningstar, an independent investment research company. The remaining 12 securities in an unrealized loss position at September 30, 2015 included 4 securities issued by a U.S. government or government-sponsored agency, 2 obligations of state and political subdivisions and 6 negotiable certificates of deposit. The obligations of the U.S. government or government-sponsored agencies are securities issued by GNMA and FHLMC that are currently rated Aaa by Moody’s Investor Services or AAA by Standard & Poor’s (“S&P”) and are guaranteed by the U.S. government. The 2 state and political subdivision obligations in an unrealized loss position at September 30, 2015, are general-purpose debt obligations that are secured by the unlimited taxing power of the issuer. Each of the 6 negotiable certificates of deposit have a carrying value below $250 thousand and are fully insured by the Federal Deposit Insurance Corporation. To date, the Company has received all scheduled principal and interest payments and expects to fully collect all future contractual principal and interest payments on all securities in an unrealized loss position at September 30, 2015. The Company does not intend to sell the securities nor is it more likely than not that the Company will be required to sell the securities prior to recovery of their amortized cost. Based on the result of its review and considering the attributes of these debt and equity securities, management concluded that the individual unrealized losses were temporary and OTTI did not exist at September 30, 2015. Investments in FHLB and Federal Reserve Bank (“FRB”) stock, which have limited marketability, are carried at cost and totaled $5.6 million and $4.2 million at September 30, 2015 and December 31, 2014, respectively. FRB stock of $1.3 million is included in Other Assets at September 30, 2015 and December 31, 2014. Management noted no indicators of impairment for the FHLB of Pittsburgh and FRB of Philadelphia stock at September 30, 2015. |
Note 7 - Borrowed Funds
Note 7 - Borrowed Funds | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 7. Borrowed Funds The following table summarizes the components of borrowed funds at September 30, 2015 and December 31, 2014: September 30, December 31, (in thousands) 2015 2014 Federal Home Loan Bank of Pittsburgh advances - overnight $ 19,500 $ - Federal Home Loan Bank of Pittsburgh advances - term 73,558 61,194 Subordinated debentures 14,000 25,000 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 117,368 $ 96,504 On September 1, 2009, the Company offered only to accredited investors up to $25.0 million principal amount of unsecured subordinated debentures due September 1, 2019 (the “Notes”). Prior to July 1, 2015, the Notes had a fixed interest rate of 9.00% per annum. Payments of interest are payable to registered holders of the Notes (the “Noteholders”) quarterly on the first of every third month, subject to the right of the Company to defer such payment. On June 30, 2015, pursuant to approval from all of the Noteholders and the Reserve Bank, the Company amended the original terms of the Notes to reduce the interest rate payable on the Notes from 9.00% to 4.50% effective July 1, 2015 and to accelerate a partial repayment of principal amount under the Notes. Pursuant to the approved amendment, on June 30, 2015, the Company repaid 44% of the original principal amount, or $11.0 million, of the Notes outstanding to the holders on June 30, 2015, with the remaining $14.0 million in principal to be repaid as follows: (a) 16% of the original principal amount, or $4.0 million, payable on September 1, 2017; (b) 20% of the original principal amount, or $5.0 million, payable on September 1, 2018; and (c) the final 20% of the original principal amount, or $5.0 million, payable on September 1, 2019, the maturity date of the Notes. As of September 30, 2015 and December 31, 2014, there was $14.0 million and $25.0 million outstanding under the Notes, respectively. The Company had been under a Written Agreement with the Reserve Bank since November 24, 2010. As previously mentioned, the Company was released from the Written Agreement on September 2, 2015.While the Company was under the Written Agreement, principal and interest payments on the Notes required written non-objection from the Reserve Bank. Pursuant to the Written Agreement, the Company had been deferring the quarterly interest payments on the Notes beginning December 1, 2010 and ending on June 1, 2015. On July 15, 2015, the Company sent a request to the Reserve Bank to permit payment of the quarterly interest payment on the Notes, which was due and payable on September 1, 2015. The Company subsequently received approval from the Reserve Bank on August 17, 2015 and accordingly paid the quarterly interest payment to the Noteholders on September 1, 2015. It is the intent of the Company to continue the regularly scheduled quarterly interest payments on a go-forward basis. Additionally, the Company is currently developing consolidated capital strategies to pay the $10.8 million in accrued and unpaid interest associated with the Notes, which has been deferred from December 1, 2010 to June 1, 2015. There have been no material changes in the status or terms of other borrowed funds disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 8 . Fair Value Measurements In determining fair value, the Company uses various valuation approaches, including market, income and cost approaches. Accounting standards establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability, which are developed based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company’s knowledge about the assumptions the market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). A financial asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: ● Level 1 valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. ● Level 2 valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data; and ● Level 3 valuation is derived from other valuation methodologies including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. A description of the valuation methodologies used for assets recorded at fair value, and for estimating fair value of financial instruments not recorded at fair value, is set forth below. Cash, Short-term Investments, Accrued Interest Receivable and Accrued Interest Payable For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities The estimated fair values of available-for-sale equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 inputs). The estimated fair values for the Company’s investments in obligations of U.S. government agencies, obligations of state and political subdivisions, government-sponsored agency CMOs and residential mortgage-backed securities, corporate debt securities, and negotiable certificates of deposit are obtained by the Company from a nationally-recognized pricing service. This pricing service develops estimated fair values by analyzing like securities and applying available market information through processes such as benchmark curves, benchmarking of like securities, sector groupings and matrix pricing (Level 2 inputs), to prepare valuations. Matrix pricing is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things and are based on market data obtained from sources independent from the Company. The Level 2 investments in the Company’s portfolio are priced using those inputs that, based on the analysis prepared by the pricing service, reflect the assumptions that market participants would use to price the assets. The Company has determined that the Level 2 designation is appropriate for these securities because, as with most fixed-income securities, those in the Company’s portfolio are not exchange-traded, and such non-exchange-traded fixed income securities are typically priced by correlation to observed market data. The Company has reviewed the pricing service’s methodology to confirm its understanding that such methodology results in a valuation based on quoted market prices for similar instruments traded in active markets, quoted markets for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which the significant assumptions can be corroborated by market data as appropriate to a Level 2 designation. For those securities for which the inputs used by an independent pricing service were derived from unobservable market information (Level 3 inputs), the Company evaluates the appropriateness and quality of each price. The Company reviewed the volume and level of activity for all classes of securities and attempted to identify transactions which may not be orderly or reflective of a significant level of activity and volume. For securities meeting these criteria, the quoted prices received from either market participants or an independent pricing service may be adjusted, as necessary, to estimate fair value. If applicable, the adjustment to fair value was derived based on present value cash flow model projections prepared by the Company or obtained from third party providers utilizing assumptions similar to those incorporated by market participants. The Company did not own any securities for which fair value was determined using level 3 inputs at September 30, 2015 or December 31, 2014. The Company did own one security issued by a state and political subdivision that was valued using Level 3 inputs during 2014, which was paid off prior to December 31, 2014. This security had a credit rating that was either withdrawn or downgraded by nationally recognized credit rating agencies, and as a result the market for these securities had become inactive. This security was historically priced using Level 2 inputs. The credit ratings withdrawal and downgrade resulted in a decline in the level of significant other observable inputs for this investment security at the measurement dates. Broker pricing and bid/ask spreads were very limited for this security. At September 30, 2014, the Company had obtained a bid indication from a third-party municipal trading desk to determine the fair value of this security. Loans Except for collateral dependent impaired loans, fair values of loans are estimated by discounting the projected future cash flows using market discount rates that reflect the credit, liquidity, and interest rate risk inherent in the loan. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. The estimated fair value of collateral dependent impaired loans is based on the appraised loan value or other reasonable offers less estimated costs to sell. The Company does not record loans at fair value on a recurring basis. However from time to time, a loan is considered impaired and an allowance for credit losses is established. The specific reserves for collateral dependent impaired loans are based on the fair value of the collateral less estimated costs to sell. The fair value of the collateral is generally based on appraisals. In some cases, adjustments are made to the appraised values due to various factors including age of the appraisal, age of comparables included in the appraisal, and known changes in the market and in the collateral. When significant adjustments are based on unobservable inputs, the resulting fair value measurement is categorized as a Level 3 measurement. Loans Held For Sale Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. Mortgage Servicing Rights The fair value of mortgage servicing rights is estimated using a discounted cash flow model that applies current estimated prepayments derived from the mortgage-backed securities market and utilizes a current market discount rate for observable credit spreads. The Bank does not record mortgage servicing rights at fair value on a recurring basis. Restricted Stock Ownership in equity securities of FHLB of Pittsburgh and the FRB is restricted and there is no established market for their resale. The carrying amount is a reasonable estimate of fair value. Deposits The fair value of demand deposits, savings deposits, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated based on discounted cash flows using FHLB advance rates currently offered for similar remaining maturities. Borrowed funds The Company uses discounted cash flows using rates currently available for debt with similar terms and remaining maturities to estimate fair value. Commitments to Extend Credit and Standby Letters of C redit The fair value of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of off-balance sheet commitments is insignificant and therefore not included in the table for non-recurring assets and liabilities. Assets M easured at Fair Value on a R ecurring B asis The following tables detail the financial asset amounts that are carried at fair value and measured at fair value on a recurring basis at September 30, 2015 and December 31, 2014, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value: Fair Value Measurements at September 30, 2015 (in thousands) Fair Value Quoted Prices Significant Significant (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 44,700 $ - $ 44,700 $ - Obligations of state and political subdivisions 56,152 - 56,152 - U.S. government/ government-sponsored agencies: Collateralized mortgage obligations - residential 23,544 - 23,544 - Collateralized mortgage obligations - commercial 91,339 - 91,339 - Residential mortgage-backed securities 28,938 - 28,938 - Corporate debt securities 426 - 426 - Negotiable certificates of deposit 3,171 - 3,171 - Equity securities 958 958 - - Total available-for-sale securities $ 249,228 $ 958 $ 248,270 $ - Fair Value Measurements at December 31, 2014 (in thousands) Fair Value Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 29,276 $ - $ 29,276 $ - Obligations of state and political subdivisions 24,509 - 24,509 - U.S. government/ government-sponsored agencies: Collateralized mortgage obligations - residential 26,231 - 26,231 - Collateralized mortgage obligations - commerical 61,256 - 61,256 - Residential mortgage-backed securities 74,098 - 74,098 - Corporate debt securities 420 - 420 - Negotiable certificates of deposit 2,232 - 2,232 - Equity securities 967 967 - - Total available-for-sale securities $ 218,989 $ 967 $ 218,022 $ - The following tables present a reconciliation and statement of operations classifications of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine month periods ended September 30, 2015 and 2014: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Political Subdivisions Nine Months Ended September 30, (in thousands) 2015 2014 Balance at January 1, $ - $ 571 Amortization - - Accretion - - Purchases - - Paydowns - (445 ) Total gains or losses (realized/unrealized): - - Included in earnings - - Included in other comprehensive income - 23 Balance at September 30, $ - $ 149 There were no transfers between levels within the fair value hierarchy during the nine months ended September 30, 2015 and 2014. Assets M easured at Fair V alue on a N on-re curring B asis The following tables present assets measured at fair value on a non-recurring basis: Fair Value Measurements at September 30, 2015 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (1) (Level 1) (Level 2) (Level 3) Collateral-dependent impaired loans $ 7,062 $ - $ - $ 7,062 Other real estate owned $ 1,582 $ - $ - $ 1,582 Fair Value Measurements at December 31, 2014 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (1) (Level 1) (Level 2) (Level 3) Collateral-dependent impaired loans $ 5,380 $ - $ - $ 5,380 Other real estate owned $ 2,087 $ - $ - $ 2,087 (1) Represents carrying value and related write-downs for which adjustments are based on appraised value less estimated selling costs. Management may make adjustments to the appraised values as necessary to consider declines in real estate values since the time of the appraisal. Such adjustments are based on management’s knowledge of the local real estate markets. Collateral-dependent impaired loans are classified as Level 3 assets and the estimated fair value of the collateral is based on the appraised value or other reasonable offers less estimated costs to sell. When the measure of the impaired loan is less than the recorded investment in the loan, the impairment is recorded through a valuation allowance or is charged off. The amount shown is the balance of impaired loans, net of any charge-offs and the related allowance for loan losses. OREO properties are recorded at fair value less the estimated cost to sell at the date of the Company’s acquisition of the property. Subsequent to the Company’s acquisition, the balance may be written down further. It is the Company’s policy to obtain certified external appraisals of real estate collateral underlying impaired loans and OREO, and estimate fair value using those appraisals. Other valuation sources may be used, including broker price opinions, letters of intent and executed sale agreements. The Company discloses fair value information about financial instruments, whether or not recognized in the Statement of Financial Condition, for which it is practicable to estimate that value. The following estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, management judgment is required to interpret data and develop fair value estimates. Accordingly, the estimates below are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. The following table summarizes the carrying values and estimated fair values of the Company’s financial instruments at September 30, 2015 and at December 31, 2014: Fair Value September 30, 2015 December 31, 2014 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and short term investments Level 1 $ 31,014 $ 31,014 $ 35,667 $ 35,667 Securities available for sale See previous table 249,228 249,228 218,989 218,989 FHLB and FRB Stock Level 2 5,649 5,649 4,154 4,154 Loans held for sale Level 2 4,634 4,634 603 603 Loans, net Level 3 713,341 712,602 658,747 659,231 Accrued interest receivable Level 2 2,618 2,618 2,075 2,075 Mortgage servicing rights Level 3 207 841 333 898 Financial liabilities: Deposits Level 2 852,042 837,071 795,336 779,986 Borrowed funds Level 2 117,368 117,595 96,504 100,020 Accrued interest payable Level 2 11,187 11,187 10,262 10,262 |
Note 9 - Earnings Per Share
Note 9 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 9 . Earnings per Share For the Company, the numerator of both the basic and diluted earnings per common share is net income available to common shareholders (which is equal to net income less dividends on preferred stock and related discount accretion). The weighted average number of common shares outstanding used in the denominator for basic earnings per common share is increased to determine the denominator used for diluted earnings per common share by the effect of potentially dilutive common share equivalents utilizing the treasury stock method. For the Company, common share equivalents are outstanding stock options to purchase the Company’s common shares and unvested restricted stock. The following table presents the calculation of both basic and diluted earnings per common share for the three and nine months ended September 30, 2015 and 2014: Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share data) 2015 2014 2015 2014 Net income $ 2,337 $ 3,358 $ 6,631 $ 13,451 Basic weighted-average number of common shares outstanding 16,500,945 16,471,569 16,497,373 16,471,569 Plus: common share equivalents - - - 282 Diluted weighted-average number of common shares outstanding 16,500,945 16,471,569 16,497,373 16,471,851 Income per common share: Basic $ 0.14 $ 0.20 $ 0.40 $ 0.82 Diluted $ 0.14 $ 0.20 $ 0.40 $ 0.82 There were no common share equivalents related to incremental shares of restricted stock for the three or nine months ended September 30, 2015, as the weighted-average price of the Company’s common stock was below the fair value on the grant date. For the nine months ended September 30, 2014, common share equivalents in the table above are related entirely to the incremental shares of unvested restricted stock. Common share equivalents, in the table above, exclude stock options of 64,479 for the nine months ended September 30, 2015 and 73,276 stock options for the nine months ended September 30, 2014 with exercise prices that exceed the average market price of the Company’s common shares during the periods presented. Inclusion of these stock options would be anti-dilutive to the diluted earnings per common share calculation. |
Note 10 - Other Comprehensive I
Note 10 - Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Note 10. Other Comprehensive Income The following tables summarize the reclassifications out of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2015 and 2014: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Amount Amount Reclassified from Reclassified from Accumulated Accumulated Other Affected Line Item Other Affected Line Item Comprehensive in the Consolidated Comprehensive in the Consolidated (in thousands) Income Statements of Income Income Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (4 ) Net gain on sale of securities $ (2,302 ) Net gain on sale of securities Taxes 1 Income taxes 782 Income taxes Net of tax amount $ (3 ) $ (1,520 ) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Amount Amount Reclassified from Reclassified from Accumulated Accumulated Other Affected Line Item Other Affected Line Item Comprehensive in the Consolidated Comprehensive in the Consolidated (in thousands) Income Statements of Income Income Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (2,958 ) Net gain on sale of securities $ (5,638 ) Net gain on sale of securities Taxes 1,006 Income taxes 1,917 Income taxes Net of tax amount $ (1,952 ) $ (3,721 ) The following table summarizes the changes in accumulated other comprehensive income, net of tax for the three and nine months ended September 30, 2015 and 2014: Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Beginning balance $ 279 $ 2,406 $ 1,138 $ (3,092 ) Other comprehensive income (loss) before reclassifications 2,287 (319 ) 2,945 6,948 Amounts reclassified from accumulated other comprehensive income (loss) (3 ) (1,952 ) (1,520 ) (3,721 ) Net other comprehensive income (loss) during the period 2,284 (2,271 ) 1,425 3,227 Ending balance $ 2,563 $ 135 $ 2,563 $ 135 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 11 . Related Party Transactions The Company has engaged in and intends to continue to engage in banking and financial transactions in the conduct of its business with directors and executive officers and their related parties. These transactions are executed on substantially the same terms and at rates prevailing at the time for comparable transactions with unrelated parties. The Company has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans and advances under lines of credit, net of participations sold, as well as repayments during the three and nine months ended September 30, 2015 and 2014: For the Three Months Ended For the Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 40,486 $ 30,303 $ 36,783 $ 29,301 Additions, new loans and advances 20,881 25,141 52,282 47,998 Repayments (9,723 ) (13,725 ) (37,421 ) (35,580 ) Other (1) - (84 ) - (84 ) Balance, end of period $ 51,644 $ 41,635 $ 51,644 $ 41,635 (1) Represents loans related to parties that ceased being related parties during period At September 30, 2015, there were no loan to directors, executive officers and their related parties which were not performing in accordance with the terms of the loan agreements. Included in related party loans is a commercial line of credit with a company owned by a director with a net balance outstanding of $4.5 million at September 30, 2015. The Company has sold a participation interest in this line to the same director in the amount of $5.2 million, of which $3.0 million is outstanding at September 30, 2015. The Company receives a 25 basis point annual servicing fee from this director on the participation balance. Deposits from directors, executive officers and their related parties held by the Company at September 30, 2015 and December 31, 2014 amounted to $111.2 million and $77.4 million, respectively. During the second quarter of 2015, the Company attained a significant deposit relationship with a customer that is a related party of a director. The aggregate balance of deposits for this relationship was $92.2 million at June 30, 2015 and $24.7 million at September 30, 2015. In the third quarter of 2015, this customer placed $63.6 million of deposits from this relationship into the reciprocal Insured Cash Sweep program through the Promontory Financial Network in order to receive full FDIC insurance coverage. Interest paid on the deposits amounted to $222 thousand and $69 thousand for the nine months ended September 30, 2015 and 2014, respectively. In the course of its operations, the Company acquires goods and services from and transacts business with various companies of related parties. The Company believes these transactions were made on the same terms as those for comparable transactions with unrelated parties. The Company recorded payments for these services of $0.9 million and $1.7 million, respectively, for the three and nine months ended September 30, 2015, and $1.2 million and $2.2 million for the respective periods of 2014. The Notes held by directors and/or their related parties totaled $8.6 million at September 30, 2015 and $9.0 million at December 31, 2014. On June 12, 2015, the Company solicited consent from all existing Noteholders to amend the Notes by reducing the interest rate payable on the notes from 9.00% to 4.50% effective July 1, 2015, and prepaying 44% of the principal amount outstanding on June 30, 2015. A group of Noteholders holding $14.0 million of the principal balance outstanding on the Notes at June 12, 2015, comprised of both related parties or their interests and non-related parties, offered to purchase the Notes of any Noteholder who did not wish to consent to the amendments. There were seven, non-related party Noteholders, who elected to have their Notes purchased by the group, for a total principal balance of $10.0 million. Of the $10.0 million, $6.4 million was purchased by related parties or their interests. On June 30, 2015, the Company made an $11.0 million principal reduction on the Notes. Total principal payments on Notes held by officers and directors and/or their related parties totaled $6.8 million, of which $6.4 million was used to purchase the Notes referenced above. On September 1, 2015, the Company made the quarterly interest payment due on the Notes for the period of June 1, 2015 through August 31, 2015, totaling $293 thousand, of which $134 thousand was paid to directors and/or their related interests. There was no interest paid to directors on these Notes for the nine months ended September 30, 2014. Interest expense recorded on the Notes to directors and/or their related interests amounted to $99 thousand and $507 thousand for the three and nine months ended September 30, 2015, respectively, and $223 thousand and $675 thousand for the three and nine months ended September 30, 2014, respectively. Interest accrued and unpaid on the Notes to directors and/or their related interests totaled $3.9 million at September 30, 2015. The following table summarizes the activity related to the Company’s subordinated debt for the nine months ended September 30, 2015: For the Nine Months Ended September 30, 2015 (in thousands) Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Balance, beginning of period $ 9,000 $ 16,000 $ 25,000 Assignments 6,429 (6,429 ) - Principal reductions (6,789 ) (4,211 ) (11,000 ) Balance, end of period $ 8,640 $ 5,360 $ 14,000 |
Note 12 - Stock Compensation Pl
Note 12 - Stock Compensation Plans | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 1 2 . Stock Compensation Plans On August 30, 2000, the Company’s Board adopted the 2000 Employee Stock Incentive Plan (the “Stock Incentive Plan”) in which options could have been granted to key officers and other employees of the Company. The aggregate number of shares which could have been issued upon exercise of the options under the plan could not exceed 1,100,000 shares. Options and rights granted under the Stock Incentive Plan became exercisable six months after the date the options were awarded and expire ten years after the award date. Upon exercise, the shares are issued from the Company’s authorized but unissued stock. The Stock Incentive Plan expired on August 30, 2010, therefore, no further grants will be made under the plan. The Board also adopted on August 30, 2000, the 2000 Independent Directors Stock Option Plan (the “Directors’ Stock Plan”) for directors who were not officers or employees of the Company. The aggregate number of shares issuable under the Directors’ Stock Plan could not exceed 550,000 shares and became exercisable six months from the date the awards were granted and expired three years after the award date. Upon exercise, the shares are issued from the Company’s authorized but unissued shares. The Directors’ Stock Plan expired on August 30, 2010, therefore, no further grants will be made under the plan. No compensation expense related to options under either the Stock Incentive Plan or the Directors’ Stock Plan was required to be recorded in the nine months ended September 30, 2015 and 2014. The following table summarizes the status of the Company’s stock option plans: Nine Months Ended September 30, 2015 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at January 1. 64,479 $ 15.87 82,598 $ 15.98 Granted - - - - Exercised - - - - Forfeited - - (9,322 ) 16.05 Outstanding at September 30, 64,479 $ 15.87 73,276 $ 15.97 Options exercisable at September 30, 64,479 73,276 $ 15.97 Weighted average fair value of $ - $ - Stock-based compensation expense $ - $ - At September 30, 2015 and 2014 the exercisable options had no total intrinsic value and there was no unrecognized compensation expense. The following table presents information pertaining to options outstanding at September 30, 2015: Options Outstanding Options Excercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Price Outstanding Life Price Exercisable Price $10.81 - $23.13 64,479 2.1 $ 15.87 64,479 $ 15.87 On November 27, 2013, the Board of Directors adopted the 2013 Employee Stock Grant Plan (the “2013 Stock Grant Plan”) under which shares of common stock not to exceed 15,000 were authorized to be granted to employees. On December 2, 2013, the Company granted 50 shares of the Company’s common stock to each active full and part time employee. There were 14,400 shares granted under the 2013 Stock Grant Plan at a fair value of $4.26 per share. On October 29, 2014, the Board of Directors adopted the 2014 Employee Stock Grant Plan (the “2014 Stock Grant Plan”) under which shares of stock not to exceed 13,500 were authorized to be granted to employees. On December 1, 2014, the Company granted 50 shares of the Company’s common stock to each active full and part time employee. There were 12,850 shares granted under the 2014 Stock Grant Plan at a fair value of $6.02 per share. The total cost of these grants, which was included in salary expense in the Consolidated Statements of Income, amounted to $77 thousand and $61 thousand for the years ended December 31, 2014 and 2013, respectively. No additional shares were granted under either plan. The Board of Directors, upon the recommendation of the Compensation Committee, formally adopted a Long-Term Incentive Compensation Plan (“LTIP”) on October 23, 2013. The LTIP was ratified at the 2013 Annual Shareholders Meeting on December 23, 2013. The LTIP is designed to reward executives and key employees for their contributions to the long-term success of the Company, primarily as measured by the increase in the Company’s stock price. The LTIP authorizes up to 1,200,000 shares of common stock for issuance and provides the Board with the authority to offer several different types of long-term incentives, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. The Board approved initial awards under the terms of the LTIP, which were granted to executives and key employees on March 1, 2014. The initial grant was comprised solely of 45,750 shares of restricted stock. On March 1, 2015, an additional 84,900 shares of restricted stock were awarded under the LTIP. At September 30, 2015, there were 1,069,683 shares of common stock available for award under the LTIP. For the nine months ended September 30, 2015 and 2014, stock-based compensation expense, which is included in salaries and employee benefits expense in the Consolidated Statements of Income, totaled $179 thousand and $65 thousand, respectively. Total unrecognized compensation expense related to unvested restricted stock awards was $522 thousand and $242 thousand at September 30, 2015 and 2014, respectively. The following table presents the status of the Company’s unvested restricted stock awards as of, and during the nine months ended, September 30, 2015 and 2014: Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested at January 1, 45,750 $ 6.70 - $ - Awards granted 84,900 5.75 45,750 6.70 Forfeitures (333 ) 6.70 - - Vestings (16,526 ) 6.70 - - Unvested at September 30, 113,791 $ 5.99 45,750 $ 6.70 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 13. Income Taxes The Company evaluates the carrying amount of its deferred tax assets on a quarterly basis, or more frequently if necessary, in accordance with guidance set forth in ASC Topic 740 “Income Taxes,” and applies the criteria in the guidance to determine whether it is more likely than not that some portion, or all, of the deferred tax asset will not be realized within its life cycle, based on the weight of available evidence. If management determines based on available evidence, both positive and negative, that it is more likely than not that some portion or all of the deferred tax asset will not be realized in future periods, a valuation allowance is calculated and recorded. These determinations are inherently subjective and depend upon management’s estimates and judgments used in their evaluation of both positive and negative evidence. The Company’s deferred tax position has been affected by several significant transactions that occurred in prior years. These transactions included the provision for loan losses, the level of non-accrual loans, valuation of other real estate owned and other-than-temporary impairment losses incurred on certain available-for-sale securities, and resulted in the Company being in a cumulative deficit position since 2009. Accordingly, under applicable accounting guidance, the Company has established a full valuation allowance for its net deferred tax assets, excluding deferred tax assets or liabilities related to unrealized holding gains and losses on available-for-sale securities. Valuation allowances, related to net deferred tax assets, established by the Company amounted to $30.3 million at September 30, 2015 and December 31, 2014. In evaluating available evidence, management considers, among other factors, historical financial performance, expectation of future earnings, the ability to carry back losses to recoup taxes previously paid, length of statutory carry forward periods, experience with operating loss and tax credit carry forwards not expiring unused, tax planning strategies and timing of reversals of temporary differences. In assessing the need for a valuation allowance, management carefully weighed both positive and negative evidence currently available. The weight given to the potential effect of positive and negative evidence must be commensurate with the extent to which it can objectively be verified. In particular, additional scrutiny must be given to deferred tax assets of an entity that has incurred taxable losses during the three most recent years because it is significant negative evidence that is objective and verifiable and therefore difficult to overcome. While the Company generated taxable income for the year ended December 31, 2014, it recorded taxable losses for the years ended December 31, 2013 and 2012. Recently, the Company implemented certain tax planning initiatives designed to promote the generation of taxable income. These strategies included: 1) the sale of tax-exempt obligations of states and political subdivisions with fair values greater than book values and redeployment of the sales proceeds into taxable investment options; 2) the sale of lower-yielding taxable securities with fair values greater than book values, and the redeployment sales proceeds into higher-yielding taxable investment options; and 3) reducing the annual rate paid on the Company’s Notes from 9.0% to 4.5% and making an $11.0 million, or 44.0%, principal prepayment on the Notes. In addition to these tax planning initiatives, the resolution of costly litigation and release from the Consent Order by the OCC on March 25, 2015 and the Written Agreement by the Reserve Bank on September 2, 2015 has led to an improvement in the Company’s overall risk profile. The Company was also notified by the FDIC that effective February 1, 2015, its risk category for FDIC insurance improved from Risk Category II to Risk Category I, resulting in a decrease in the Company’s initial base assessment rate for deposit insurance from 0.14 basis points to 0.05 basis points, a 64.3% reduction. As a result of these developments, the Company has experienced and anticipates further reductions in its non-interest expense levels, specifically legal expense and regulatory assessments. Furthermore, as a result of the improved risk profile, the Company renewed its professional liability, fidelity bond and errors and omissions insurance policies at lower rates effective July 1, 2015 and accordingly experienced a decrease in insurance expense going forward. When determining the need for a valuation allowance, the Company assessed the possible sources of taxable income available under tax law to realize a tax benefit for deductible temporary differences and carryforwards as defined in ASC Topic 740. While the Company has shown substantial book net income in 2013, 2014 and in the first nine months of 2015, these amounts have included significant non-recurring or non-taxable transactions, such as legal settlements, that affected the provision for loan losses and non-interest income levels and gains on the sales of securities. The Company utilizes a three-year rolling measurement of results when assessing whether it is in a cumulative loss position. Adjusting for these non-recurring items, the Company was in a cumulative three-year loss position at September 30, 2015. Based on the analysis of available positive and negative evidence, management determined that the established valuation allowance equal to 100.0% of net deferred tax assets, excluding deferred tax assets or liabilities related to unrealized holding gains and losses on available-for-sale securities, should be maintained at September 30, 2015. Management will reassess the need for a valuation allowance at December 31, 2015 taking into consideration the positive and negative evidence available at that time. The Company recorded a credit for income tax expense of $40 thousand for the nine months ended September 30, 2015, and a provision for income tax expense of $166 thousand and $326 thousand for the three and nine months ended September 30, 2014, respectively. These amounts were entirely related to alternative minimum tax. There was no provision or credit for income taxes for the three months ended September 30, 2015. |
Note 14 - Contingencies
Note 14 - Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 14. Contingencies On August 8, 2011, the Company announced that it had received document subpoenas from the SEC. The information requested generally related to disclosure and financial reporting by the Company and the restatement of the Company’s financial statements for the year ended December 31, 2009, and the quarters ended March 31, 2010 and June 30, 2010. On January 28, 2015, the Company and the SEC entered into a settlement agreement resolving these issues related to disclosure and financial reporting and the restatements of the Company’s financial statements for the year ended December 31, 2009 and the quarters ended March 31, 2010 and June 30, 2010. As part of this settlement agreement, on January 30, 2015, the Company paid a civil money penalty of $175 thousand to the SEC. The Company accrued for the $175 thousand civil money penalty in its 2014 Consolidated Statements of Income. On May 24, 2012, a putative shareholder filed a complaint in the Court of Common Pleas for Lackawanna County (“Shareholder Derivative Suit”) against certain present and former directors and officers of the Company (the “Individual Defendants”) alleging, inter alia, breach of fiduciary duty, abuse of control, corporate waste, and unjust enrichment. The Company was named as a nominal defendant. The parties to the Shareholder Derivative Suit commenced settlement discussions and on December 18, 2013, the Court entered an Order Granting Preliminary Approval of Proposed Settlement subject to notice to shareholders. On February 4, 2014, the Court issued a Final Order and Judgment for the matter granting approval of a Stipulation of Settlement (the “Settlement”) and dismissing all claims against the Company and the Individual Defendants. As part of the Settlement, there was no admission of liability by the Individual Defendants. Pursuant to the Settlement, the Individual Defendants, without admitting any fault, wrongdoing or liability, agreed to settle the derivative litigation for $5.0 million. The $5.0 million Settlement payment was made to the Company on March 28, 2014. The Individual Defendants reserved their rights to indemnification under the Company’s Articles of Incorporation and Bylaws, resolutions adopted by the Board, the Pennsylvania Business Corporation Law and any and all rights they have against the Company’s and the Bank’s insurance carriers. In addition, in conjunction with the Settlement, the Company accrued $2.5 million related to fees and costs of the plaintiff’s attorneys, which was included in non-interest expense in the Consolidated Statements of Income for the year ended December 31, 2013. On April 1, 2014, the Company paid the $2.5 million related to fees and costs of the plaintiff’s attorneys and partial indemnification of the Individual Defendants in the amount of $2.5 million, and as such, as of September 30, 2015, $2.5 million plus accrued interest remains accrued in other liabilities related to the potential indemnification of the Individual Defendants. The Company settled any and all claims it had or may have had against Demetrius & Company, LLC, John Demetrius and Robert L. Rossi & Company in connection with the Shareholder Derivative Suit in 2014. On September 5, 2012, Fidelity and Deposit Company of Maryland (“F&D”) filed an action against the Company and the Bank, as well as several current and former officers and directors of the Company, in the United States District Court for the Middle District of Pennsylvania. F&D has asserted a claim for the rescission of a directors’ and officers’ insurance policy and a bond that it had issued to the Company. On November 9, 2012, the Company and the Bank answered the claim and asserted counterclaims for the losses and expenses already incurred by the Company and the Bank. The Company and the other defendants are defending the claims and have opposed F&D’s requested relief by way of counterclaims, breaches of contract and bad faith claims against F&D for its failure to fulfill its obligations to the Company and the Bank under the insurance policy. At this time, the matter is in the discovery stage and the Company cannot reasonably determine the outcome or potential range of loss in connection with this matter. On August 13, 2013, Steven Antonik, individually, as Administrator of the Estate of Linda Kluska, William R. Howells, and Louise A. Howells, on behalf of themselves and others similarly situated, filed a consumer protection class action against the Company and Bank in the Lackawanna County Court of Common Pleas, seeking equitable, injunction and monetary relief to address an alleged pattern and practice of wrong doing by the Bank relating to the repossession and sale of the Plaintiffs’ and class members’ financed motor vehicles. Discovery in this matter is substantially completed. The parties have agreed to meet and discuss a possible resolution of this matter, however, at this time, the Company cannot reasonably determine the outcome or potential range of loss. On September 17, 2013, Charles Saxe, III individually and on behalf of all others similarly situated filed a consumer class action against the Bank in the Lackawanna County Court of Common Pleas alleging violations of the Pennsylvania Uniform Commercial Code in connection with the repossession and resale of financed vehicles. Discovery in this matter is substantially completed. Plaintiffs’ counsel has filed a petition to certify the class which the Bank is aggressively defending. The parties have agreed to meet and discuss a possible resolution of this matter, however, at this time the Company cannot reasonably determine the outcome or potential range of loss. On January 22, 2014, the Bank was advised by the Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) that FinCEN was investigating the Bank for alleged violations of the Bank Secrecy Act (“BSA”). On May 28, 2014, the Bank was advised by the Office of the Comptroller of the Currency (“OCC”) that the OCC was investigating allegations that the Bank failed to file timely Suspicious Activity Reports. On November 18, 2014, both FinCEN and OCC advised the Bank that they intended on assessing civil money penalties against the Bank. Subsequent to November 18, 2014, the Bank had been in discussions with both regulatory agencies about the alleged BSA violations. On February 27, 2015, the Bank reached a comprehensive settlement with FinCEN and OCC to resolve the BSA allegations. In order to settle the matter, the Bank consented to an aggregate civil money penalty assessment of $1.5 million which was accrued for at December 31, 2014 and included in non-interest expense for the year ended December 31, 2014. The Company paid the $1.5 million civil money penalty on February 27, 2015. The Company has been subject to tax audits and is also a party to routine litigation involving various aspects of its business, such as employment practice claims, claims to enforce liens, condemnation proceedings on properties in which the Company holds security interests, claims involving the making and servicing of real property loans and other issues incident to its business, none of which has or is expected to have a material adverse impact on the consolidated financial condition, results of operations or liquidity of the Company. There have been no changes in the status of the other litigation disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. |
Note 3 - Regulatory Matters (Ta
Note 3 - Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule Of Risk Based Capital And Risk Weighted Assets Under Banking Regulations [Table Text Block] | September 30, December 31, (in thousands) 2015 2014 Company: Tier I common equity $ 56,964 N/A Tier I capital 66,964 $ 59,930 Tier II capital: Subordinated notes 9,800 25,000 Allowable portion of allowance for loan and lease losses 9,650 8,591 Total tier II capital 19,450 33,591 Total risk-based capital 86,414 93,521 Total risk-weighted assets $ 771,395 $ 683,956 Total average assets (for Tier I leverage ratio) $ 1,019,307 $ 990,346 Bank: Tier I common equity $ 92,821 N/A Tier I capital 92,821 $ 96,816 Tier II capital: Allowable portion of allowance for loan and lease losses 9,645 8,587 Total tier II capital 9,645 8,587 Total risk-based capital 102,466 105,403 Total risk-weighted assets $ 771,002 $ 683,576 Total average assets (for Tier I leverage ratio) $ 1,018,916 $ 990,407 |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Company Bank Minimum To Be Well (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio September 30, 2015 Total capital (to risk-weighted assets) $ 86,414 11.20 % $ 102,466 13.29 % 8.00 % 10.00 % Tier I capital (to risk-weighted assets) 66,964 8.68 % 92,821 12.04 % 6.00 % 8.00 % Tier I common equity (to risk-weighted assets) 56,964 7.38 % 92,821 12.04 % 4.50 % 6.50 % Tier I capital (to average assets) 66,964 6.57 % 92,821 9.11 % 4.00 % 5.00 % Company Bank Minimum To Be Well (dollars in thousands) Amount Ratio Amount Ratio Ratio Ratio December 31, 2014 Total capital (to risk-weighted assets) $ 93,521 13.67 % $ 105,403 15.42 % 8.00 % 10.00 % Tier I capital (to risk-weighted assets) 59,930 8.76 % 96,816 14.16 % 4.00 % 6.00 % Tier I capital (to average assets) 59,930 6.05 % 96,816 9.78 % 4.00 % 5.00 % |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, December 31, (in thousands) 2015 2014 Residential real estate $ 129,444 $ 122,832 Commercial real estate 249,526 233,473 Construction, land acquisition and development 25,516 18,835 Commercial and industrial 142,425 132,057 Consumer 132,418 122,092 State and political subdivisions 42,219 40,205 Total loans, gross 721,548 669,494 Unearned income (104 ) (98 ) Net deferred loan costs 1,722 871 Allowance for loan and lease losses (9,825 ) (11,520 ) Loans, net $ 713,341 $ 658,747 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Real Estate (in thousands) Residential Commercial Construction, Land Acquisition and Commercial Consumer State and Unallocated Total Three months ended September 30, 2015: Allowance for loan losses: Beginning balance, July 1, 2015 $ 1,484 $ 4,041 $ 778 $ 1,878 $ 1,643 $ 504 $ - $ 10,328 Charge-offs (66 ) - (683 ) (21 ) (198 ) - - (968 ) Recoveries 23 278 - 140 215 - - 656 Provisions (credits) (132 ) (84 ) 874 (738 ) (147 ) (32 ) 68 (191 ) Ending balance, September 30, 2015 $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Three months ended September 30, 2014: Allowance for loan losses: Beginning balance, July 1, 2014 $ 2,112 $ 5,133 $ 923 $ 1,758 $ 1,681 $ 568 $ - $ 12,175 Charge-offs (67 ) - - (22 ) (270 ) - - (359 ) Recoveries 9 - - 69 58 - - 136 Provisions (credits) (307 ) 128 (148 ) - 258 15 - (54 ) Ending balance, September 30, 2014 $ 1,747 $ 5,261 $ 775 $ 1,805 $ 1,727 $ 583 $ - $ 11,898 Nine months ended September 30, 2015: Allowance for loan losses: Beginning balance, January 1, 2015 $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Charge-offs (135 ) (912 ) (689 ) (163 ) (538 ) - - (2,437 ) Recoveries 34 296 - 307 445 - - 1,082 Provisions (credits) (362 ) 188 993 (989 ) (67 ) (126 ) 23 (340 ) Ending balance, September 30, 2015 $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Nine months ended September 30, 2014: Allowance for loan losses: Beginning balance, January 1, 2014 $ 2,287 $ 6,017 $ 924 $ 2,321 $ 1,789 $ 679 $ - $ 14,017 Charge-offs (152 ) - - (172 ) (637 ) - - (961 ) Recoveries 79 355 3,539 195 303 - - 4,471 Provisions (credits) (467 ) (1,111 ) (3,688 ) (539 ) 272 (96 ) - (5,629 ) Ending balance, September 30, 2014 $ 1,747 $ 5,261 $ 775 $ 1,805 $ 1,727 $ 583 $ - $ 11,898 Real Estate (in thousands) Residential Commercial Construction, Commercial Consumer State and Unallocated Total September 30, 2015 Allowance for loan losses: Individually evaluated for impairment $ 5 $ 303 $ - $ - $ 2 $ - $ - $ 310 Collectively evaluated for impairment 1,304 3,932 969 1,259 1,511 472 68 9,515 Total $ 1,309 $ 4,235 $ 969 $ 1,259 $ 1,513 $ 472 $ 68 $ 9,825 Loans receivable: Individually evaluated for impairment $ 2,386 $ 7,470 $ 704 $ 207 $ 353 $ - $ - $ 11,120 Collectively evaluated for impairment 127,058 242,056 24,812 142,218 132,065 42,219 - 710,428 Total $ 129,444 $ 249,526 $ 25,516 $ 142,425 $ 132,418 $ 42,219 $ - $ 721,548 December 31, 2014 Allowance for loan losses: Individually evaluated for impairment $ 51 $ 331 $ 1 $ - $ 1 $ - $ - $ 384 Collectively evaluated for impairment 1,721 4,332 664 2,104 1,672 598 45 11,136 Total $ 1,772 $ 4,663 $ 665 $ 2,104 $ 1,673 $ 598 $ 45 $ 11,520 Loans receivable: Individually evaluated for impairment $ 2,487 $ 6,660 $ 256 $ 32 $ 361 $ - $ - $ 9,796 Collectively evaluated for impairment 120,345 226,813 18,579 132,025 121,731 40,205 - 659,698 Total $ 122,832 $ 233,473 $ 18,835 $ 132,057 $ 122,092 $ 40,205 $ - $ 669,494 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Quality Indicators September 30, 2015 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 21,120 $ 405 $ 993 $ - $ - $ 22,518 $ 106,411 $ 515 $ 106,926 $ 129,444 Commercial real estate 224,342 13,371 11,813 - - 249,526 - - - 249,526 Construction, land acquisition and development 18,157 362 6,068 - - 24,587 929 - 929 25,516 Commercial and industrial 134,970 935 2,399 - - 138,304 4,116 5 4,121 142,425 Consumer 3,101 15 116 - - 3,232 129,045 141 129,186 132,418 State and political subdivisions 41,604 120 495 - - 42,219 - - - 42,219 Total $ 443,294 $ 15,208 $ 21,884 $ - $ - $ 480,386 $ 240,501 $ 661 $ 241,162 $ 721,548 Credit Quality Indicators December 31, 2014 Commercial Loans Other Loans Special Subtotal Accruing Non-accrual Subtotal Total Pass Mention Substandard Doubtful Loss Commercial Loans Loans Other Loans Residential real estate $ 19,892 $ 451 $ 1,077 $ - $ - $ 21,420 $ 100,576 $ 836 $ 101,412 $ 122,832 Commercial real estate 204,252 13,217 16,004 - - 233,473 - - - 233,473 Construction, land acquisition and development 10,910 1,423 5,566 - - 17,899 936 - 936 18,835 Commercial and industrial 122,261 1,962 2,397 - - 126,620 5,437 - 5,437 132,057 Consumer 3,414 - 125 - - 3,539 118,377 176 118,553 122,092 State and political subdivisions 38,685 925 595 - - 40,205 - - - 40,205 Total $ 399,414 $ 17,978 $ 25,764 $ - $ - $ 443,156 $ 225,326 $ 1,012 $ 226,338 $ 669,494 |
Past Due Financing Receivables [Table Text Block] | September 30, 2015 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 128,558 $ 147 $ 4 $ - $ 128,709 Commercial real estate 243,837 95 276 - 244,208 Construction, land acquisition and development 25,147 - - - 25,147 Total real estate 397,542 242 280 - 398,064 Commercial and industrial 141,858 250 139 - 142,247 Consumer 130,792 1,245 240 - 132,277 State and political subdivisions 42,052 167 - - 42,219 Total performing (accruing) loans 712,244 1,904 659 - 714,807 Non-accrual loans: Real estate: Residential real estate 406 63 - 266 735 Commercial real estate 1,634 - 119 3,565 5,318 Construction, land acquisition and development - 369 - - 369 Total real estate 2,040 432 119 3,831 6,422 Commercial and industrial 110 - - 68 178 Consumer 36 33 6 66 141 State and political subdivisions - - - - - Total non-accrual loans 2,186 465 125 3,965 6,741 Total loans receivable $ 714,430 $ 2,369 $ 784 $ 3,965 $ 721,548 December 31, 2014 Delinquency Status 0-29 Days 30-59 Days 60-89 Days >/= 90 Days (in thousands) Past Due Past Due Past Due Past Due Total Performing (accruing) loans: Real estate: Residential real estate $ 121,407 $ 420 $ - $ - $ 121,827 Commercial real estate 229,207 136 - - 229,343 Construction, land acquisition and development 18,740 - 95 - 18,835 Total real estate 369,354 556 95 - 370,005 Commercial and industrial 131,621 90 135 - 131,846 Consumer 120,204 1,334 378 - 121,916 State and political subdivisions 40,205 - - - 40,205 Total peforming (accruing) loans 661,384 1,980 608 - 663,972 Non-accrual loans: Real estate: Residential real estate 495 99 17 394 1,005 Commercial real estate 288 3,628 19 195 4,130 Construction, land acquisition and development - - - - - Total real estate 783 3,727 36 589 5,135 Commercial and industrial 55 - 52 104 211 Consumer 42 - 58 76 176 State and political subdivisions - - - - - Total non-accrual loans 880 3,727 146 769 5,522 Total loans receivable $ 662,264 $ 5,707 $ 754 $ 769 $ 669,494 |
Impaired Financing Receivables [Table Text Block] | September 30, 2015 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Real estate: Residential real estate $ 819 $ 890 $ - Commercial real estate 5,462 7,089 - Construction, land acquisition and development 704 1,052 - Total real estate 6,985 9,031 - Commercial and industrial 207 236 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 7,192 9,267 - With a related allowance recorded: Real estate: Residential real estate 1,567 1,567 5 Commercial real estate 2,008 2,008 303 Construction, land acquisition and development - - - Total real estate 3,575 3,575 308 Commercial and industrial - - - Consumer 353 353 2 State and political subdivisions - - - Total impaired loans with a related allowance recorded 3,928 3,928 310 Total impaired loans: Real estate: Residential real estate 2,386 2,457 5 Commercial real estate 7,470 9,097 303 Construction, land acquisition and development 704 1,052 - Total real estate 10,560 12,606 308 Commercial and industrial 207 236 - Consumer 353 353 2 State and political subdivisions - - - Total impaired loans $ 11,120 $ 13,195 $ 310 December 31, 2014 Unpaid Recorded Principal Related (in thousands) Investment Balance Allowance With no allowance recorded: Real estate: Residential real estate $ 385 $ 410 $ - Commercial real estate 4,401 5,024 - Construction, land acquisition and development 68 68 - Total real estate 4,854 5,502 - Commercial and industrial 32 59 - Consumer - - - State and political subdivisions - - - Total impaired loans with no related allowance recorded 4,886 5,561 - With a related allowance recorded: Real estate: Residential real estate 2,102 2,137 51 Commercial real estate 2,259 2,259 331 Construction, land acquisition and development 188 188 1 Total real estate 4,549 4,584 383 Commercial and industrial - - - Consumer 361 361 1 State and political subdivisions - - - Total impaired loans with a related allowance recorded 4,910 4,945 384 Total impaired loans: Real estate: Residential real estate 2,487 2,547 51 Commercial real estate 6,660 7,283 331 Construction, land acquisition and development 256 256 1 Total real estate 9,403 10,086 383 Commercial and industrial 32 59 - Consumer 361 361 1 State and political subdivisions - - - Total impaired loans $ 9,796 $ 10,506 $ 384 |
Schedule of Average Balance and Interest Income On Impaired Loans [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Average Interest Average Interest Average Interest Average Interest (in thousands) Balance Income (1) Balance Income (1) Balance Income (1) Balance Income (1) Residential real estate $ 2,413 $ 28 $ 2,490 $ 25 $ 2,659 $ 92 $ 2,144 $ 62 Commercial real estate 7,017 24 6,628 30 6,884 82 6,613 91 Construction, land acquisition and development 459 5 273 4 465 14 293 12 Total real estate 9,889 57 9,391 59 10,008 188 9,050 165 Commercial and industrial 140 1 66 - 142 1 98 - Consumer 354 3 363 3 357 9 337 8 State and political subdivisions - - - - - - - - Total impaired loans $ 10,383 $ 61 $ 9,820 $ 62 $ 10,507 $ 198 $ 9,485 $ 173 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (dollars in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate - $ - $ - 5 $ 810 $ 827 Commercial real estate - - - 1 1,654 742 Construction, land acquisition and development - - - 1 96 96 Commercial and industrial 1 79 79 1 79 79 Consumer - - - - - - State and political subdivisions - - - - - - Total new troubled debt restructurings 1 $ 79 $ 79 8 $ 2,639 $ 1,744 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded (dollars in thousands) Contracts Investments Investments Contracts Investments Investments Troubled debt restructurings: Residential real estate 6 $ 411 $ 413 12 $ 780 $ 862 Commercial real estate - - - 4 238 238 Construction, land acquisition and development - - - - - - Commercial and industrial - - - - - - Consumer - - - 2 182 187 State and political subdivisions - - - - - - Total new troubled debt restructurings 6 $ 411 $ 413 18 $ 1,200 $ 1,287 |
Schedule of Types of Modifications of Troubled Debt Restructurings On Financing Receivables [Table Text Block] | Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ - $ - $ - $ - $ - $ 709 $ 118 $ - $ - $ 827 Commercial real estate - - - - - - - - 1,654 1,654 Construction, land acquisition and development - - - - - 96 - - - 96 Commercial and industrial - - - 79 79 - - - 79 79 Consumer - - - - - - - - - - State and political subdivisions - - - - - - - - - - Total modifications $ - $ - $ - $ 79 $ 79 $ 805 $ 118 $ - $ 1,733 $ 2,656 Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 (in thousands) Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Extension of Term Extension of Term and Capitalization of Taxes Capitalization of Taxes Principal Forbearance Total Modifications Type of modification: Residential real estate $ 148 $ 40 $ - $ 225 $ 413 $ 263 $ 339 $ 35 $ 225 $ 862 Commercial real estate - - - - - 238 - - - 238 Construction, land acquisition and development - - - - - - - - - - Commercial and industrial - - - - - - - - - - Consumer - - - - - 135 52 - - 187 State and political subdivisions - - - - - - - - - - Total modifications $ 148 $ 40 $ - $ 225 $ 413 $ 636 $ 391 $ 35 $ 225 $ 1,287 |
Note 5 - Other Real Estate Ow25
Note 5 - Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule Reflecting Components of OREO [Table Text Block] | September 30, December 31, (in thousands) 2015 2014 Land/lots $ 803 $ 1,287 Commercial real estate 788 941 Residential real estate 27 27 Total other real estate owned $ 1,618 $ 2,255 |
Other Real Estate Owned Roll Forward [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 1,740 $ 3,182 $ 2,255 $ 4,246 Property foreclosures - - 149 13 Bank premises transferred to OREO - - - 1,749 Valuation adjustments (78 ) (429 ) (208 ) (2,199 ) Carrying value of OREO sold (44 ) (136 ) (578 ) (1,192 ) Balance, end of period $ 1,618 $ 2,617 $ 1,618 $ 2,617 |
Schedule of Components of Net Expense of Other Real Estate [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Insurance $ 19 $ 26 $ 51 $ 66 Legal fees (6 ) 14 33 38 Maintenance - 2 3 17 Professional fees 3 5 4 83 Real estate taxes 8 28 21 123 Utilities 1 4 14 8 Other (12 ) 6 5 11 Valuation adjustments 78 429 208 2,199 Total expense 91 514 339 2,545 Income from the operation of foreclosed properties - - (1 ) (50 ) Net expense of OREO $ 91 $ 514 $ 338 $ 2,495 |
Note 6 - Securities (Tables)
Note 6 - Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2015 Gross Gross Unrealized Unrealized Amortized Holding Holding (in thousands) Cost Gains Losses Fair Value Available-for-sale: Obligations of U.S. government agencies $ 43,788 $ 912 $ - $ 44,700 Obligations of state and political subdivisions 55,209 955 12 56,152 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 23,058 489 3 23,544 Collateralized mortgage obligations - commercial 90,158 1,190 9 91,339 Residential mortgage-backed securities 28,449 489 - 28,938 Corporate debt securities 500 - 74 426 Negotiable certificates of deposit 3,173 2 4 3,171 Equity securities 1,010 - 52 958 Total available-for-sale securities $ 245,345 $ 4,037 $ 154 $ 249,228 December 31, 2014 Gross Gross Unrealized Unrealized Amortized Holding Holding (in thousands) Cost Gains Losses Fair Value Available-for-sale: Obligations of U.S. government agencies $ 29,246 $ 77 $ 47 $ 29,276 Obligations of state and political subdivisions 23,132 1,380 3 24,509 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 26,129 103 1 26,231 Collateralized mortgage obligations - commercial 61,017 492 253 61,256 Residential mortgage-backed securities 73,998 441 341 74,098 Corporate debt securities 500 - 80 420 Negotiable certificates of deposit 2,232 - - 2,232 Equity securities 1,010 - 43 967 Total available-for-sale securities $ 217,264 $ 2,493 $ 768 $ 218,989 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2015 Amortized Fair (in thousands) Cost Value Amounts maturing in: One year or less $ - $ - After one year through five years 21,743 22,130 After five years through ten years 78,215 79,648 After ten years 2,712 2,671 Collateralized mortgage obligations 113,216 114,883 Residential mortgage-backed securities 28,449 28,938 Total $ 244,335 $ 248,270 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2015 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies - $ - $ - - $ - $ - - $ - $ - Obligations of state and policitical subdivisions 1 1,513 7 1 261 5 2 1,774 12 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 2 812 3 - - - 2 812 3 Collateralized mortgage obligations - commercial 2 5,169 9 - - - 2 5,169 9 Residential mortgage-backed securities - - - - - - - - - Corporate debt securities - - - 1 426 74 1 426 74 Negotiable certificates of deposit 6 1,433 4 - - - 6 1,433 4 Equity securities - - - 1 948 52 1 948 52 Total 11 $ 8,927 $ 23 3 $ 1,635 $ 131 14 $ 10,562 $ 154 December 31, 2014 Less than 12 Months 12 Months or Greater Total Number Gross Number Gross Number Gross of Fair Unrealized of Fair Unrealized of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses Obligations of U.S. government agencies 2 $ 9,513 $ 47 - $ - $ - 2 $ 9,513 $ 47 Obligations of state and political subdivisions - - - 1 254 3 1 254 3 U.S. government/government-sponsored agencies: Collateralized mortgage obligations - residential 1 653 1 - - - 1 653 1 Collateralized mortgage obligations - commerical 7 32,513 105 3 8,693 148 10 41,206 253 Residential mortgage-backed securities 3 16,659 56 6 37,619 285 9 54,278 341 Corporate debt securities - - - 1 420 80 1 420 80 Negotiable certificates of deposit - - - - - - - - - Equity securities - - - 1 957 43 1 957 43 Total 13 $ 59,338 $ 209 12 $ 47,943 $ 559 25 $ 107,281 $ 768 |
Note 7 - Borrowed Funds (Tables
Note 7 - Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | September 30, December 31, (in thousands) 2015 2014 Federal Home Loan Bank of Pittsburgh advances - overnight $ 19,500 $ - Federal Home Loan Bank of Pittsburgh advances - term 73,558 61,194 Subordinated debentures 14,000 25,000 Junior subordinated debentures 10,310 10,310 Total borrowed funds $ 117,368 $ 96,504 |
Note 8 - Fair Value Measureme28
Note 8 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at September 30, 2015 (in thousands) Fair Value Quoted Prices Significant Significant (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 44,700 $ - $ 44,700 $ - Obligations of state and political subdivisions 56,152 - 56,152 - U.S. government/ government-sponsored agencies: Collateralized mortgage obligations - residential 23,544 - 23,544 - Collateralized mortgage obligations - commercial 91,339 - 91,339 - Residential mortgage-backed securities 28,938 - 28,938 - Corporate debt securities 426 - 426 - Negotiable certificates of deposit 3,171 - 3,171 - Equity securities 958 958 - - Total available-for-sale securities $ 249,228 $ 958 $ 248,270 $ - Fair Value Measurements at December 31, 2014 (in thousands) Fair Value Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Available-for-sale securities: Obligations of U.S. government agencies $ 29,276 $ - $ 29,276 $ - Obligations of state and political subdivisions 24,509 - 24,509 - U.S. government/ government-sponsored agencies: Collateralized mortgage obligations - residential 26,231 - 26,231 - Collateralized mortgage obligations - commerical 61,256 - 61,256 - Residential mortgage-backed securities 74,098 - 74,098 - Corporate debt securities 420 - 420 - Negotiable certificates of deposit 2,232 - 2,232 - Equity securities 967 967 - - Total available-for-sale securities $ 218,989 $ 967 $ 218,022 $ - |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and Political Subdivisions Nine Months Ended September 30, (in thousands) 2015 2014 Balance at January 1, $ - $ 571 Amortization - - Accretion - - Purchases - - Paydowns - (445 ) Total gains or losses (realized/unrealized): - - Included in earnings - - Included in other comprehensive income - 23 Balance at September 30, $ - $ 149 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements at September 30, 2015 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (1) (Level 1) (Level 2) (Level 3) Collateral-dependent impaired loans $ 7,062 $ - $ - $ 7,062 Other real estate owned $ 1,582 $ - $ - $ 1,582 Fair Value Measurements at December 31, 2014 Significant Significant Quoted Prices Other Other in Active Markets Observable Unobservable for Identical Assets Inputs Inputs (in thousands) Fair Value (1) (Level 1) (Level 2) (Level 3) Collateral-dependent impaired loans $ 5,380 $ - $ - $ 5,380 Other real estate owned $ 2,087 $ - $ - $ 2,087 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value September 30, 2015 December 31, 2014 (in thousands) Measurement Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and short term investments Level 1 $ 31,014 $ 31,014 $ 35,667 $ 35,667 Securities available for sale See previous table 249,228 249,228 218,989 218,989 FHLB and FRB Stock Level 2 5,649 5,649 4,154 4,154 Loans held for sale Level 2 4,634 4,634 603 603 Loans, net Level 3 713,341 712,602 658,747 659,231 Accrued interest receivable Level 2 2,618 2,618 2,075 2,075 Mortgage servicing rights Level 3 207 841 333 898 Financial liabilities: Deposits Level 2 852,042 837,071 795,336 779,986 Borrowed funds Level 2 117,368 117,595 96,504 100,020 Accrued interest payable Level 2 11,187 11,187 10,262 10,262 |
Note 9 - Earnings Per Share (Ta
Note 9 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except share data) 2015 2014 2015 2014 Net income $ 2,337 $ 3,358 $ 6,631 $ 13,451 Basic weighted-average number of common shares outstanding 16,500,945 16,471,569 16,497,373 16,471,569 Plus: common share equivalents - - - 282 Diluted weighted-average number of common shares outstanding 16,500,945 16,471,569 16,497,373 16,471,851 Income per common share: Basic $ 0.14 $ 0.20 $ 0.40 $ 0.82 Diluted $ 0.14 $ 0.20 $ 0.40 $ 0.82 |
Note 10 - Other Comprehensive30
Note 10 - Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Amount Amount Reclassified from Reclassified from Accumulated Accumulated Other Affected Line Item Other Affected Line Item Comprehensive in the Consolidated Comprehensive in the Consolidated (in thousands) Income Statements of Income Income Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (4 ) Net gain on sale of securities $ (2,302 ) Net gain on sale of securities Taxes 1 Income taxes 782 Income taxes Net of tax amount $ (3 ) $ (1,520 ) Three Months Ended September 30, 2014 Nine Months Ended September 30, 2014 Amount Amount Reclassified from Reclassified from Accumulated Accumulated Other Affected Line Item Other Affected Line Item Comprehensive in the Consolidated Comprehensive in the Consolidated (in thousands) Income Statements of Income Income Statements of Income Available-for-sale securities: Reclassification adjustment for net gains reclassified into net income $ (2,958 ) Net gain on sale of securities $ (5,638 ) Net gain on sale of securities Taxes 1,006 Income taxes 1,917 Income taxes Net of tax amount $ (1,952 ) $ (3,721 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Beginning balance $ 279 $ 2,406 $ 1,138 $ (3,092 ) Other comprehensive income (loss) before reclassifications 2,287 (319 ) 2,945 6,948 Amounts reclassified from accumulated other comprehensive income (loss) (3 ) (1,952 ) (1,520 ) (3,721 ) Net other comprehensive income (loss) during the period 2,284 (2,271 ) 1,425 3,227 Ending balance $ 2,563 $ 135 $ 2,563 $ 135 |
Note 11 - Related Party Trans31
Note 11 - Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, September 30, (in thousands) 2015 2014 2015 2014 Balance, beginning of period $ 40,486 $ 30,303 $ 36,783 $ 29,301 Additions, new loans and advances 20,881 25,141 52,282 47,998 Repayments (9,723 ) (13,725 ) (37,421 ) (35,580 ) Other (1) - (84 ) - (84 ) Balance, end of period $ 51,644 $ 41,635 $ 51,644 $ 41,635 |
Schedule of Subordinated Borrowing [Table Text Block] | For the Nine Months Ended September 30, 2015 (in thousands) Related Party Subordinated Noteholders Other Subordinated Noteholders Total Subordinated Notes Outstanding Balance, beginning of period $ 9,000 $ 16,000 $ 25,000 Assignments 6,429 (6,429 ) - Principal reductions (6,789 ) (4,211 ) (11,000 ) Balance, end of period $ 8,640 $ 5,360 $ 14,000 |
Note 12 - Stock Compensation 32
Note 12 - Stock Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Options Roll Forward [Table Text Block] | Nine Months Ended September 30, 2015 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at January 1. 64,479 $ 15.87 82,598 $ 15.98 Granted - - - - Exercised - - - - Forfeited - - (9,322 ) 16.05 Outstanding at September 30, 64,479 $ 15.87 73,276 $ 15.97 Options exercisable at September 30, 64,479 73,276 $ 15.97 Weighted average fair value of $ - $ - Stock-based compensation expense $ - $ - |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Excercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Range of Exercise Price Outstanding Life Price Exercisable Price $10.81 - $23.13 64,479 2.1 $ 15.87 64,479 $ 15.87 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 Weighted- Weighted- Average Average Restricted Grant Date Restricted Grant Date Shares Fair Value Shares Fair Value Unvested at January 1, 45,750 $ 6.70 - $ - Awards granted 84,900 5.75 45,750 6.70 Forfeitures (333 ) 6.70 - - Vestings (16,526 ) 6.70 - - Unvested at September 30, 113,791 $ 5.99 45,750 $ 6.70 |
Note 3 - Regulatory Matters (De
Note 3 - Regulatory Matters (Details) | Sep. 30, 2015 | Dec. 31, 2014 |
Note 3 - Regulatory Matters (Details) [Line Items] | ||
Capital to Risk Weighted Assets | 8.00% | 10.00% |
Tier One Risk Based Capital to Risk Weighted Assets | 6.00% | 4.00% |
Common Equity Tier One Capital to Risk-Weighted Assets | 4.50% | |
Tier One Leverage Capital to Average Assets | 4.00% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 6.00% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Effective January 2019 [Member] | ||
Note 3 - Regulatory Matters (Details) [Line Items] | ||
Capital to Risk Weighted Assets | 10.50% | |
Tier One Risk Based Capital to Risk Weighted Assets | 8.50% | |
Common Equity Tier One Capital to Risk-Weighted Assets | 7.00% | |
Common Equity Tier One Capital Conservation Buffer | 2.50% | |
Effective January 2016 [Member] | ||
Note 3 - Regulatory Matters (Details) [Line Items] | ||
Common Equity Tier One Capital Conservation Buffer | 0.625% |
Note 3 - Regulatory Matters (34
Note 3 - Regulatory Matters (Details) - Actual Capital Positions and Ratios - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Parent Company [Member] | ||
Note 3 - Regulatory Matters (Details) - Actual Capital Positions and Ratios [Line Items] | ||
Tier I common equity | $ 56,964 | |
Tier I capital | 66,964 | $ 59,930 |
Total risk-based capital | 86,414 | 93,521 |
Total risk-weighted assets | 771,395 | 683,956 |
Total average assets (for Tier I leverage ratio) | 1,019,307 | 990,346 |
Subordinated notes | 9,800 | 25,000 |
Allowable portion of allowance for loan losses | 9,650 | 8,591 |
Total tier II capital | 19,450 | $ 33,591 |
Subsidiaries [Member] | ||
Note 3 - Regulatory Matters (Details) - Actual Capital Positions and Ratios [Line Items] | ||
Tier I common equity | 92,821 | |
Tier I capital | 92,821 | $ 96,816 |
Total risk-based capital | 102,466 | 105,403 |
Total risk-weighted assets | 771,002 | 683,576 |
Total average assets (for Tier I leverage ratio) | 1,018,916 | 990,407 |
Allowable portion of allowance for loan losses | 9,645 | 8,587 |
Total tier II capital | $ 9,645 | $ 8,587 |
Note 3 - Regulatory Matters (35
Note 3 - Regulatory Matters (Details) - Risk-based Capital and Related Ratios - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets)-Ratio | 8.00% | 10.00% |
Total capital (to risk-weighted assets)-Minimun required for capital adequacy purposes | 8.00% | 8.00% |
Total capital (to risk-weighted assets)-to be well capitalized under prompt corrective action regulations | 10.00% | 10.00% |
Tier I capital (to risk-weighted assets)-Ratio | 6.00% | 4.00% |
Tier I capital (to risk-weighted assets)-Minimun required for capital adequacy purposes | 6.00% | 4.00% |
Tier I capital (to risk-weighted assets)-to be well capitalized under prompt corrective action regulations | 8.00% | 6.00% |
Tier I common equity (to risk-weighted assets) | 4.50% | |
Tier I common equity (to risk-weighted assets) | 4.50% | |
Tier I common equity (to risk-weighted assets) | 6.50% | |
Tier I capital (to average assets)-Ratio | 4.00% | |
Tier I capital (to average assets)-Minimun required for capital adequacy purposes | 4.00% | 4.00% |
Tier I capital (to average assets)-to be well capitalized under prompt corrective action regulations | 5.00% | 5.00% |
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets)-Amount (in Dollars) | $ 86,414 | $ 93,521 |
Total capital (to risk-weighted assets)-Ratio | 11.20% | 13.67% |
Tier I capital (to risk-weighted assets)-Amount (in Dollars) | $ 66,964 | $ 59,930 |
Tier I capital (to risk-weighted assets)-Ratio | 8.68% | 8.76% |
Tier I common equity (to risk-weighted assets) (in Dollars) | $ 56,964 | |
Tier I common equity (to risk-weighted assets) | 7.38% | |
Tier I capital (to average assets)-Amount (in Dollars) | $ 66,964 | $ 59,930 |
Tier I capital (to average assets)-Ratio | 6.57% | 6.05% |
Subsidiaries [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets)-Amount (in Dollars) | $ 102,466 | $ 105,403 |
Total capital (to risk-weighted assets)-Ratio | 13.29% | 15.42% |
Tier I capital (to risk-weighted assets)-Amount (in Dollars) | $ 92,821 | $ 96,816 |
Tier I capital (to risk-weighted assets)-Ratio | 12.04% | 14.16% |
Tier I common equity (to risk-weighted assets) (in Dollars) | $ 92,821 | |
Tier I common equity (to risk-weighted assets) | 12.04% | |
Tier I capital (to average assets)-Amount (in Dollars) | $ 92,821 | $ 96,816 |
Tier I capital (to average assets)-Ratio | 9.11% | 9.78% |
Note 4 - Loans (Details)
Note 4 - Loans (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Note 4 - Loans (Details) [Line Items] | |||||
Transfer of Portfolio Loans and Leases to Held-for-sale | $ 4,600,000 | $ 4,592,000 | |||
Education Loans Recorded Investment | $ 2,600,000 | $ 2,600,000 | |||
Net Loss On Sale of Student Loans | 0 | 0 | 0 | 13,000 | |
Impaired Financing Receivable, Minimum Outstanding Balance Threshold | 100,000 | ||||
Loans and Leases Receivable, Allowance | 9,825,000 | 11,898,000 | 9,825,000 | 11,898,000 | $ 11,520,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,700,000 | $ 6,700,000 | 5,500,000 | ||
Loans Still Classified As Non-accrual Status Period of Past Due | 90 days | ||||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | $ 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 710,428,000 | 710,428,000 | 659,698,000 | ||
Impaired Financing Receivable, Recorded Investment | 11,120,000 | 11,120,000 | 9,796,000 | ||
Impaired Financing Receivable, Related Allowance | 310,000 | 310,000 | 384,000 | ||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 112,000 | $ 100,000 | 298,000 | $ 307,000 | |
Financing Receivable, Modifications, Recorded Investment | $ 9,400,000 | $ 9,400,000 | 9,000,000 | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 6 | 8 | 18 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 79,000 | $ 411,000 | $ 2,639,000 | $ 1,200,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 1 | 0 | |
Non-accrual Loans [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Financing Receivable, Collectively Evaluated for Impairment | $ 700,000 | $ 700,000 | 1,000,000 | ||
Nonperforming Financial Instruments [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 5,100,000 | 5,100,000 | 3,700,000 | ||
Performing Financial Instruments [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 5,300,000 | 5,300,000 | 4,300,000 | ||
Residential Mortgage [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Mortgage Loans on Real Estate | 10,000,000 | 10,000,000 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 4,600,000 | 4,600,000 | 603,000 | ||
One-to-Four Family Mortgages [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Mortgage Loans on Real Estate, Cost of Mortgages Sold | 300,000 | 1,900,000 | |||
Unallocated Financing Receivables [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Loans and Leases Receivable, Allowance | $ 68,000 | $ 68,000 | 45,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | 4 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 1,700,000 | $ 1,654,000 | $ 238,000 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 912,000 | 912,000 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 3,500,000 | 3,500,000 | |||
Troubled Debt Restructuring [Member] | |||||
Note 4 - Loans (Details) [Line Items] | |||||
Loans and Leases Receivable, Allowance | $ 310,000 | $ 310,000 | $ 346,000 |
Note 4 - Loans (Details) - Loan
Note 4 - Loans (Details) - Loans Receivable, Net, by Category - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | $ 721,548 | $ 669,494 | |
Unearned income | (104) | (98) | |
Net deferred loan costs | 1,722 | 871 | |
Allowance for loan and lease losses | (9,825) | (11,520) | $ (11,898) |
Loans, net | 713,341 | 658,747 | |
Residential Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 129,444 | 122,832 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 249,526 | 233,473 | |
Construction, Land Acquisition and Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 25,516 | 18,835 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 142,425 | 132,057 | |
Allowance for loan and lease losses | (1,259) | (2,104) | (1,805) |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 132,418 | 122,092 | |
Allowance for loan and lease losses | (1,513) | (1,673) | (1,727) |
State and Political Subdivisions [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans receivable, gross | 42,219 | 40,205 | |
Allowance for loan and lease losses | $ (472) | $ (598) | $ (583) |
Note 4 - Loans (Details) - Acti
Note 4 - Loans (Details) - Activity in the Allowance for Loan Losses, by Loan Category - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | |
Allowance for loan losses: | ||||||
Beginning balance | $ 10,328 | $ 12,175 | $ 11,520 | $ 14,017 | ||
Ending balance | 9,825 | 11,898 | 9,825 | 11,898 | ||
Charge-offs | (968) | (359) | (2,437) | (961) | ||
Recoveries | 656 | 136 | 1,082 | 4,471 | ||
Provisions (credits) | (191) | (54) | (340) | (5,629) | ||
Allowance for loan losses: | ||||||
Allowance, individually evaluated for impairment | $ 310 | $ 384 | ||||
Allowance, collectively evaluated for impairment | 9,515 | 11,136 | ||||
Total allowance | 9,825 | 11,898 | 9,825 | 11,898 | 9,825 | 11,520 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 11,120 | 9,796 | ||||
Loans, collectively evaluated for impairment | 710,428 | 659,698 | ||||
Total loans | 721,548 | 669,494 | ||||
Residential Portfolio Segment [Member] | ||||||
Loans receivable: | ||||||
Total loans | 129,444 | 122,832 | ||||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 1,484 | 2,112 | 1,772 | 2,287 | ||
Ending balance | 1,309 | 1,747 | 1,309 | 1,747 | ||
Charge-offs | (66) | (67) | (135) | (152) | ||
Recoveries | 23 | 9 | 34 | 79 | ||
Provisions (credits) | (132) | (307) | (362) | (467) | ||
Allowance for loan losses: | ||||||
Allowance, individually evaluated for impairment | 5 | 51 | ||||
Allowance, collectively evaluated for impairment | 1,304 | 1,721 | ||||
Total allowance | 1,309 | 1,747 | 1,309 | 1,747 | 1,309 | 1,772 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 2,386 | 2,487 | ||||
Loans, collectively evaluated for impairment | 127,058 | 120,345 | ||||
Total loans | 129,444 | 122,832 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Loans receivable: | ||||||
Total loans | 249,526 | 233,473 | ||||
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 4,041 | 5,133 | 4,663 | 6,017 | ||
Ending balance | 4,235 | 5,261 | 4,235 | 5,261 | ||
Charge-offs | (912) | |||||
Recoveries | 278 | 296 | 355 | |||
Provisions (credits) | (84) | 128 | 188 | (1,111) | ||
Allowance for loan losses: | ||||||
Allowance, individually evaluated for impairment | 303 | 331 | ||||
Allowance, collectively evaluated for impairment | 3,932 | 4,332 | ||||
Total allowance | 4,235 | 5,261 | 4,235 | 5,261 | 4,235 | 4,663 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 7,470 | 6,660 | ||||
Loans, collectively evaluated for impairment | 242,056 | 226,813 | ||||
Total loans | 249,526 | 233,473 | ||||
Construction, Land Acquisition and Development [Member] | ||||||
Loans receivable: | ||||||
Total loans | 25,516 | 18,835 | ||||
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 778 | 923 | 665 | 924 | ||
Ending balance | 969 | 775 | 969 | 775 | ||
Charge-offs | (683) | (689) | ||||
Recoveries | 3,539 | |||||
Provisions (credits) | 874 | (148) | 993 | (3,688) | ||
Allowance for loan losses: | ||||||
Allowance, individually evaluated for impairment | 1 | |||||
Allowance, collectively evaluated for impairment | 969 | 664 | ||||
Total allowance | 969 | 775 | 969 | 775 | 969 | 665 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 704 | 256 | ||||
Loans, collectively evaluated for impairment | 24,812 | 18,579 | ||||
Total loans | 25,516 | 18,835 | ||||
Commercial Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 1,878 | 1,758 | 2,104 | 2,321 | ||
Ending balance | 1,259 | 1,805 | 1,259 | 1,805 | ||
Charge-offs | (21) | (22) | (163) | (172) | ||
Recoveries | 140 | 69 | 307 | 195 | ||
Provisions (credits) | (738) | (989) | (539) | |||
Allowance for loan losses: | ||||||
Allowance, collectively evaluated for impairment | 1,259 | 2,104 | ||||
Total allowance | 1,259 | 1,805 | 1,259 | 1,805 | 1,259 | 2,104 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 207 | 32 | ||||
Loans, collectively evaluated for impairment | 142,218 | 132,025 | ||||
Total loans | 142,425 | 132,057 | ||||
Consumer Portfolio Segment [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 1,643 | 1,681 | 1,673 | 1,789 | ||
Ending balance | 1,513 | 1,727 | 1,513 | 1,727 | ||
Charge-offs | (198) | (270) | (538) | (637) | ||
Recoveries | 215 | 58 | 445 | 303 | ||
Provisions (credits) | (147) | 258 | (67) | 272 | ||
Allowance for loan losses: | ||||||
Allowance, individually evaluated for impairment | 2 | 1 | ||||
Allowance, collectively evaluated for impairment | 1,511 | 1,672 | ||||
Total allowance | 1,513 | 1,727 | 1,513 | 1,727 | 1,513 | 1,673 |
Loans receivable: | ||||||
Loans, individually evaluated for impairment | 353 | 361 | ||||
Loans, collectively evaluated for impairment | 132,065 | 121,731 | ||||
Total loans | 132,418 | 122,092 | ||||
State and Political Subdivisions [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 504 | 568 | 598 | 679 | ||
Ending balance | 472 | 583 | 472 | 583 | ||
Provisions (credits) | (32) | 15 | (126) | (96) | ||
Allowance for loan losses: | ||||||
Allowance, collectively evaluated for impairment | 472 | 598 | ||||
Total allowance | 472 | $ 583 | 472 | $ 583 | 472 | 598 |
Loans receivable: | ||||||
Loans, collectively evaluated for impairment | 42,219 | 40,205 | ||||
Total loans | 42,219 | 40,205 | ||||
Unallocated Financing Receivables [Member] | ||||||
Allowance for loan losses: | ||||||
Beginning balance | 45 | |||||
Ending balance | 68 | 68 | ||||
Provisions (credits) | 68 | 23 | ||||
Allowance for loan losses: | ||||||
Allowance, collectively evaluated for impairment | 68 | 45 | ||||
Total allowance | $ 68 | $ 68 | $ 68 | $ 45 |
Note 4 - Loans (Details) - Inve
Note 4 - Loans (Details) - Investment in Loans Receivable by Loan Category and Credit Quality Indicator - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 721,548 | $ 669,494 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 443,294 | 399,414 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 15,208 | 17,978 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 21,884 | 25,764 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 129,444 | 122,832 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 21,120 | 19,892 |
Residential Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 405 | 451 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 993 | 1,077 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Residential Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 249,526 | 233,473 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 224,342 | 204,252 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 13,371 | 13,217 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 11,813 | 16,004 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 25,516 | 18,835 |
Construction, Land Acquisition and Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 18,157 | 10,910 |
Construction, Land Acquisition and Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 362 | 1,423 |
Construction, Land Acquisition and Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,068 | 5,566 |
Construction, Land Acquisition and Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Construction, Land Acquisition and Development [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 142,425 | 132,057 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 134,970 | 122,261 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 935 | 1,962 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,399 | 2,397 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 132,418 | 122,092 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,101 | 3,414 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 15 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 116 | 125 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
State and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 42,219 | 40,205 |
State and Political Subdivisions [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 41,604 | 38,685 |
State and Political Subdivisions [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 120 | 925 |
State and Political Subdivisions [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 495 | 595 |
State and Political Subdivisions [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
State and Political Subdivisions [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Subtotal Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 480,386 | 443,156 |
Subtotal Commercial Loans [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 22,518 | 21,420 |
Subtotal Commercial Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 249,526 | 233,473 |
Subtotal Commercial Loans [Member] | Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 24,587 | 17,899 |
Subtotal Commercial Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 138,304 | 126,620 |
Subtotal Commercial Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,232 | 3,539 |
Subtotal Commercial Loans [Member] | State and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 42,219 | 40,205 |
Accruing Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 240,501 | 225,326 |
Accruing Loans [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 106,411 | 100,576 |
Accruing Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Accruing Loans [Member] | Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 929 | 936 |
Accruing Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,116 | 5,437 |
Accruing Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 129,045 | 118,377 |
Accruing Loans [Member] | State and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non-accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 661 | 1,012 |
Non-accrual Loans [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 515 | 836 |
Non-accrual Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non-accrual Loans [Member] | Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Non-accrual Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5 | 0 |
Non-accrual Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 141 | 176 |
Non-accrual Loans [Member] | State and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Subtotal Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 241,162 | 226,338 |
Subtotal Other Loans [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 106,926 | 101,412 |
Subtotal Other Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 0 | 0 |
Subtotal Other Loans [Member] | Construction, Land Acquisition and Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 929 | 936 |
Subtotal Other Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,121 | 5,437 |
Subtotal Other Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 129,186 | 118,553 |
Subtotal Other Loans [Member] | State and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 0 | $ 0 |
Note 4 - Loans (Details) - Perf
Note 4 - Loans (Details) - Performing and Non-Performing Loan Delinquency Status - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | $ 721,548 | $ 669,494 |
Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 714,430 | 662,264 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 2,369 | 5,707 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 784 | 754 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,965 | 769 |
Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 714,807 | 663,972 |
Performing Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 712,244 | 661,384 |
Performing Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 1,904 | 1,980 |
Performing Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 659 | 608 |
Performing Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 398,064 | 370,005 |
Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 397,542 | 369,354 |
Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 242 | 556 |
Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 280 | 95 |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 6,741 | 5,522 |
Nonperforming Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 2,186 | 880 |
Nonperforming Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 465 | 3,727 |
Nonperforming Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 125 | 146 |
Nonperforming Financial Instruments [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,965 | 769 |
Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 6,422 | 5,135 |
Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 2,040 | 783 |
Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 432 | 3,727 |
Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 119 | 36 |
Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,831 | 589 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 128,709 | 121,827 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 128,558 | 121,407 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 147 | 420 |
Residential Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 4 | |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 735 | 1,005 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 406 | 495 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 63 | 99 |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 17 | |
Residential Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 266 | 394 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 244,208 | 229,343 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 243,837 | 229,207 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 95 | 136 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 276 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 5,318 | 4,130 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 1,634 | 288 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,628 | |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 119 | 19 |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 3,565 | 195 |
Construction, Land Acquisition and Development [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 25,147 | 18,835 |
Construction, Land Acquisition and Development [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 25,147 | 18,740 |
Construction, Land Acquisition and Development [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 95 | |
Construction, Land Acquisition and Development [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 369 | |
Construction, Land Acquisition and Development [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 369 | |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 142,247 | 131,846 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 141,858 | 131,621 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 250 | 90 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 139 | 135 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 178 | 211 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 110 | 55 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 52 | |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 68 | 104 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 132,277 | 121,916 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 130,792 | 120,204 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 1,245 | 1,334 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 240 | 378 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 141 | 176 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 36 | 42 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 33 | |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 6 | 58 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 66 | 76 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 42,219 | 40,205 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financing Receivables, 1 to 29 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | 42,052 | $ 40,205 |
State and Political Subdivisions [Member] | Performing Financial Instruments [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans past due | $ 167 |
Note 4 - Loans (Details) - Impa
Note 4 - Loans (Details) - Impaired Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Real estate: | ||
Recorded investment, with no allowance recorded | $ 7,192 | $ 4,886 |
Unpaid principal balance, with no allowance recorded | 9,267 | 5,561 |
Real estate: | ||
Recorded investment, with a related allowance recorded | 3,928 | 4,910 |
Unpaid principal balance, with a related allowance recorded | 3,928 | 4,945 |
Related allowance | 310 | 384 |
Real estate: | ||
Recorded investment | 11,120 | 9,796 |
Unpaid principal balance | 13,195 | 10,506 |
Related allowance | 310 | 384 |
Real Estate Loan [Member] | ||
Real estate: | ||
Recorded investment, with no allowance recorded | 6,985 | 4,854 |
Unpaid principal balance, with no allowance recorded | 9,031 | 5,502 |
Real estate: | ||
Recorded investment, with a related allowance recorded | 3,575 | 4,549 |
Unpaid principal balance, with a related allowance recorded | 3,575 | 4,584 |
Related allowance | 308 | 383 |
Real estate: | ||
Recorded investment | 10,560 | 9,403 |
Unpaid principal balance | 12,606 | 10,086 |
Related allowance | 308 | 383 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Real estate: | ||
Recorded investment, with no allowance recorded | 819 | 385 |
Unpaid principal balance, with no allowance recorded | 890 | 410 |
Real estate: | ||
Recorded investment, with a related allowance recorded | 1,567 | 2,102 |
Unpaid principal balance, with a related allowance recorded | 1,567 | 2,137 |
Related allowance | 5 | 51 |
Real estate: | ||
Recorded investment | 2,386 | 2,487 |
Unpaid principal balance | 2,457 | 2,547 |
Related allowance | 5 | 51 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | ||
Real estate: | ||
Recorded investment, with no allowance recorded | 5,462 | 4,401 |
Unpaid principal balance, with no allowance recorded | 7,089 | 5,024 |
Real estate: | ||
Recorded investment, with a related allowance recorded | 2,008 | 2,259 |
Unpaid principal balance, with a related allowance recorded | 2,008 | 2,259 |
Related allowance | 303 | 331 |
Real estate: | ||
Recorded investment | 7,470 | 6,660 |
Unpaid principal balance | 9,097 | 7,283 |
Related allowance | 303 | 331 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | ||
Real estate: | ||
Recorded investment, with no allowance recorded | 704 | 68 |
Unpaid principal balance, with no allowance recorded | 1,052 | 68 |
Real estate: | ||
Recorded investment, with a related allowance recorded | 188 | |
Unpaid principal balance, with a related allowance recorded | 188 | |
Related allowance | 1 | |
Real estate: | ||
Recorded investment | 704 | 256 |
Unpaid principal balance | 1,052 | 256 |
Related allowance | 1 | |
Commercial Portfolio Segment [Member] | ||
Real estate: | ||
Recorded investment, with no allowance recorded | 207 | 32 |
Unpaid principal balance, with no allowance recorded | 236 | 59 |
Real estate: | ||
Recorded investment | 207 | 32 |
Unpaid principal balance | 236 | 59 |
Consumer Portfolio Segment [Member] | ||
Real estate: | ||
Recorded investment, with a related allowance recorded | 353 | 361 |
Unpaid principal balance, with a related allowance recorded | 353 | 361 |
Related allowance | 2 | 1 |
Real estate: | ||
Recorded investment | 353 | 361 |
Unpaid principal balance | 353 | 361 |
Related allowance | $ 2 | $ 1 |
Note 4 - Loans (Details) - Aver
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | $ 10,383 | $ 9,820 | $ 10,507 | $ 9,485 | |
Interest income | [1] | 61 | 62 | 198 | 173 |
Real Estate Loan [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 9,889 | 9,391 | 10,008 | 9,050 | |
Interest income | [1] | 57 | 59 | 188 | 165 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 2,413 | 2,490 | 2,659 | 2,144 | |
Interest income | [1] | 28 | 25 | 92 | 62 |
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 7,017 | 6,628 | 6,884 | 6,613 | |
Interest income | [1] | 24 | 30 | 82 | 91 |
Construction, Land Acquisition and Development [Member] | Real Estate Loan [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 459 | 273 | 465 | 293 | |
Interest income | [1] | 5 | 4 | 14 | 12 |
Commercial Portfolio Segment [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 140 | $ 66 | 142 | $ 98 | |
Interest income | [1] | 1 | 1 | ||
Consumer Portfolio Segment [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Average balance | 354 | $ 363 | 357 | $ 337 | |
Interest income | [1] | $ 3 | $ 3 | $ 9 | $ 8 |
State and Political Subdivisions [Member] | |||||
Note 4 - Loans (Details) - Average Balance and Interest Income by Loan Category Recognized on Impaired Loans [Line Items] | |||||
Interest income | [1] | ||||
[1] | Interest income represents income recognized on performing TDRs. |
Note 4 - Loans (Details) - In43
Note 4 - Loans (Details) - Investment in Loans Modified as TDRs by Loan Category $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Troubled debt restructurings: | ||||
Number of contracts | 1 | 6 | 8 | 18 |
Pre-modification outstanding recorded investments | $ 79 | $ 411 | $ 2,639 | $ 1,200 |
Post-modification outstanding recorded investments | $ 79 | $ 413 | $ 1,744 | $ 1,287 |
Residential Portfolio Segment [Member] | ||||
Troubled debt restructurings: | ||||
Number of contracts | 6 | 5 | 12 | |
Pre-modification outstanding recorded investments | $ 411 | $ 810 | $ 780 | |
Post-modification outstanding recorded investments | $ 413 | $ 827 | $ 862 | |
Commercial Real Estate Portfolio Segment [Member] | ||||
Troubled debt restructurings: | ||||
Number of contracts | 1 | 1 | 4 | |
Pre-modification outstanding recorded investments | $ 1,700 | $ 1,654 | $ 238 | |
Post-modification outstanding recorded investments | $ 742 | $ 238 | ||
Construction, Land Acquisition and Development [Member] | ||||
Troubled debt restructurings: | ||||
Number of contracts | 1 | |||
Pre-modification outstanding recorded investments | $ 96 | |||
Post-modification outstanding recorded investments | $ 96 | |||
Commercial Portfolio Segment [Member] | ||||
Troubled debt restructurings: | ||||
Number of contracts | 1 | 1 | ||
Pre-modification outstanding recorded investments | $ 79 | $ 79 | ||
Post-modification outstanding recorded investments | $ 79 | $ 79 | ||
Consumer Portfolio Segment [Member] | ||||
Troubled debt restructurings: | ||||
Number of contracts | 2 | |||
Pre-modification outstanding recorded investments | $ 182 | |||
Post-modification outstanding recorded investments | $ 187 |
Note 4 - Loans (Details) - Type
Note 4 - Loans (Details) - Type of Modifications - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Type of modification: | ||||
Financing receivable, modifications | $ 79 | $ 413 | $ 1,744 | $ 1,287 |
Extended Maturity [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 148 | 805 | 636 | |
Extended Maturity and Capitalization of Taxes [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 40 | 118 | 391 | |
Capitalization of Taxes [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 35 | |||
Principal Forbearance [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 79 | 225 | 1,733 | 225 |
Residential Portfolio Segment [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 413 | 827 | 862 | |
Residential Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 148 | 709 | 263 | |
Residential Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 40 | 118 | 339 | |
Residential Portfolio Segment [Member] | Capitalization of Taxes [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 35 | |||
Residential Portfolio Segment [Member] | Principal Forbearance [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | $ 225 | 225 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 742 | 238 | ||
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 238 | |||
Commercial Real Estate Portfolio Segment [Member] | Principal Forbearance [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 1,654 | |||
Construction, Land Acquisition and Development [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 96 | |||
Construction, Land Acquisition and Development [Member] | Extended Maturity [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 96 | |||
Commercial and Industrial [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 79 | 79 | ||
Commercial and Industrial [Member] | Principal Forbearance [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | $ 79 | $ 79 | ||
Consumer Portfolio Segment [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 187 | |||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | 135 | |||
Consumer Portfolio Segment [Member] | Extended Maturity and Capitalization of Taxes [Member] | ||||
Type of modification: | ||||
Financing receivable, modifications | $ 52 |
Note 5 - Other Real Estate Ow45
Note 5 - Other Real Estate Owned (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2013USD ($) | |
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Other Real Estate, Foreclosed Assets, and Repossessed Assets (in Dollars) | $ 1,618 | $ 2,617 | $ 1,618 | $ 2,617 | $ 2,255 | $ 1,740 | $ 3,182 | $ 4,246 |
Other Real Estate Owned, Period Increase (Decrease) (in Dollars) | $ (700) | |||||||
Other Real Estate Owned, Period Increase (Decrease) Percent | (28.20%) | |||||||
Real Estate Acquired Through Foreclosure (in Dollars) | $ 2,300 | |||||||
Number of Real Estate Properties Foreclosed | 2 | 1 | ||||||
Other Real Estate Owned, Foreclosed Upon (in Dollars) | $ 149 | $ 13 | ||||||
Other Real Estate Owned, Amount Transferred (in Dollars) | $ 1,400 | $ 1,400 | ||||||
Other Real Estate Owned, Percentage Transferred | 85.00% | 85.00% | ||||||
Number of Real Estate Properties Transferred | 3 | |||||||
Number of Real Estate Properties Sold | 6 | 5 | ||||||
Number of Real Estate Properties Partially Sold | 1 | 2 | ||||||
Real Estate Properties Sold (in Dollars) | $ 600 | $ 1,200 | ||||||
Gains (Losses) on Sales of Other Real Estate (in Dollars) | $ 129 | 35 | 145 | $ 103 | ||||
Number of Properties Written Down | 2 | |||||||
Other Real Estate (in Dollars) | 1,200 | $ 1,200 | ||||||
Other Real Estate, Valuation Adjustments (in Dollars) | $ 78 | 429 | $ 208 | 2,199 | ||||
Other Real Estate Owned, Fair Market Appraised Value Percentage | 90.00% | 90.00% | ||||||
Other Real Estate Owned, Estimated Costs to Sell Factor | 10.00% | 10.00% | ||||||
Other Real Estate Owned, Broker Commission | 6.00% | 6.00% | ||||||
Other Real Estate Owned, Transfer Taxes | 1.00% | 1.00% | ||||||
Other Real Estate Owned, Miscellaneous Costs | 3.00% | 3.00% | ||||||
Consumer Portfolio Segment [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Mortgage Loans in Process of Foreclosure, Amount (in Dollars) | $ 117 | $ 117 | ||||||
Residential Portfolio Segment [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties | 2 | 2 | 2 | |||||
Other Real Estate (in Dollars) | $ 27 | $ 27 | $ 27 | |||||
Other Real Estate Owned [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties | 10 | 10 | ||||||
Four Properties Held in OREO [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Other Real Estate Owned, Amount Transferred (in Dollars) | $ 3,400 | $ 3,400 | ||||||
Number of Real Estate Properties Transferred | 4 | |||||||
Vacant Land [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties Transferred | 3 | |||||||
Number of Properties Written Down | 1 | |||||||
Monroe County Properties [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Other Real Estate, Valuation Adjustments (in Dollars) | $ 158 | |||||||
In Process of Foreclosure [Member] | Consumer Portfolio Segment [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties | 4 | 4 | ||||||
Residential Real Estate, Foreclosed [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties | 2 | 2 | ||||||
Real Estate Investment Property, Net (in Dollars) | $ 149 | $ 149 | ||||||
Four Properties Held in OREO [Member] | ||||||||
Note 5 - Other Real Estate Owned (Details) [Line Items] | ||||||||
Number of Real Estate Properties Sold | 1 |
Note 5 - Other Real Estate Ow46
Note 5 - Other Real Estate Owned (Details) - Composition of OREO - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Note 5 - Other Real Estate Owned (Details) - Composition of OREO [Line Items] | ||||||
Other real estate owned | $ 1,618 | $ 1,740 | $ 2,255 | $ 2,617 | $ 3,182 | $ 4,246 |
Land and Lots [Member] | ||||||
Note 5 - Other Real Estate Owned (Details) - Composition of OREO [Line Items] | ||||||
Other real estate owned | 803 | 1,287 | ||||
Other Real Estate Owned, Commercial Real Estate [Member] | ||||||
Note 5 - Other Real Estate Owned (Details) - Composition of OREO [Line Items] | ||||||
Other real estate owned | 788 | 941 | ||||
Other Real Estate Owned, Residential Real Estate [Member] | ||||||
Note 5 - Other Real Estate Owned (Details) - Composition of OREO [Line Items] | ||||||
Other real estate owned | $ 27 | $ 27 |
Note 5 - Other Real Estate Ow47
Note 5 - Other Real Estate Owned (Details) - Activity in OREO - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Activity in OREO [Abstract] | ||||
Balance, beginning of period | $ 1,740 | $ 3,182 | $ 2,255 | $ 4,246 |
Property foreclosures | 149 | 13 | ||
Bank premises transferred to OREO | 1,749 | |||
Valuation adjustments | (78) | (429) | (208) | (2,199) |
Carrying value of OREO sold | (44) | (136) | (578) | (1,192) |
Balance, end of period | $ 1,618 | $ 2,617 | $ 1,618 | $ 2,617 |
Note 5 - Other Real Estate Ow48
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
Valuation adjustments | $ 78 | $ 429 | $ 208 | $ 2,199 |
Total expense | 91 | 514 | 339 | 2,545 |
Income from the operation of foreclosed properties | (1) | (50) | ||
Net expense of OREO | 91 | 514 | 338 | 2,495 |
Insurance Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | 19 | 26 | 51 | 66 |
Legal Fees Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | (6) | 14 | 33 | 38 |
Maintenance Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | 2 | 3 | 17 | |
Professional Fees Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | 3 | 5 | 4 | 83 |
Real Estate Taxes Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | 8 | 28 | 21 | 123 |
Utilities Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | 1 | 4 | 14 | 8 |
Other OREO Expense [Member] | ||||
Note 5 - Other Real Estate Owned (Details) - Components of Net Expense of OREO [Line Items] | ||||
OREO expense, gross | $ (12) | $ 6 | $ 5 | $ 11 |
Note 6 - Securities (Details)
Note 6 - Securities (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2014USD ($) | |
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale Securities Pledged as Collateral | $ 247,800,000 | $ 247,800,000 | $ 217,600,000 | |||
Proceeds from Sale of Available-for-sale Securities | 5,300,000 | $ 40,000,000 | 78,765,000 | $ 78,582,000 | ||
Available-for-sale Securities, Gross Realized Gains | $ 4,000 | 2,900,000 | 2,300,000 | 5,600,000 | ||
Available-for-sale Securities, Gross Realized Losses | $ 0 | $ 4,000 | 0 | |||
Proceeds from Sale of Held-to-maturity Securities | 2,686,000 | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 14 | 14 | 25 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 3 | 3 | 12 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 154,000 | $ 768,000 | ||||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | $ 5,600,000 | 5,600,000 | 4,200,000 | |||
Other Assets [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Federal Reserve Bank Stock | $ 1,300,000 | $ 1,300,000 | $ 1,300,000 | |||
US States and Political Subdivisions Debt Securities [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Held-to-Maturity Securities, Number | 4 | |||||
Held-to-maturity Securities, Sold Security, at Carrying Value | $ 2,300,000 | |||||
Proceeds from Sale of Held-to-maturity Securities | 2,700,000 | |||||
Held-to-maturity Securities, Sold Security, Realized Gain (Loss) | $ 400,000 | |||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | 2 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | 1 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 12,000 | $ 3,000 | ||||
Equity Securities [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Severity, Percentage of Amortized Cost | 5.20% | 5.20% | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 52,000 | $ 43,000 | ||||
One-Year Return | 3.34% | 3.34% | ||||
Three-Year Return | 1.80% | 1.80% | ||||
Star Rating by Morningstar | 4 | 4 | ||||
Corporate Debt and Equity Securities [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 2 | 2 | ||||
Corporate Debt Securities [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | 1 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 1 | 1 | 1 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Severity, Percentage of Amortized Cost | 14.80% | 14.80% | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 74,000 | $ 80,000 | ||||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 4 | 4 | ||||
Negotiable Certificates of Deposit [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 6 | 6 | 0 | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 0 | 0 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 4,000 | $ 0 | ||||
Federal Home Loan Bank of Pittsburgh [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Impairment on Federal Home Loan Bank Stock | $ 0 | 0 | ||||
Impairment on Federal Reserve Bank of Philadelphia Stock | $ 0 | $ 0 | ||||
Minimum [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Severity, Percentage of Amortized Cost | 5.00% | 5.00% | ||||
Minimum [Member] | Corporate Debt and Equity Securities [Member] | ||||||
Note 6 - Securities (Details) [Line Items] | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Severity, Percentage of Amortized Cost | 5.00% | 5.00% |
Note 6 - Securities (Details) -
Note 6 - Securities (Details) - Amortized Cost, Gross Unrealized Gains and Losses, and the Fair Value of the Company's Securities - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Available-for-sale: | ||
Available for sale securities, amortized cost | $ 245,345 | $ 217,264 |
Available for sale securities, gross unrealized holding gains | 4,037 | 2,493 |
Available for sale securities, gross unrealized holding losses | 154 | 768 |
Available for sale securities, fair value | 249,228 | 218,989 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 43,788 | 29,246 |
Available for sale securities, gross unrealized holding gains | 912 | 77 |
Available for sale securities, gross unrealized holding losses | 47 | |
Available for sale securities, fair value | 44,700 | 29,276 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 55,209 | 23,132 |
Available for sale securities, gross unrealized holding gains | 955 | 1,380 |
Available for sale securities, gross unrealized holding losses | 12 | 3 |
Available for sale securities, fair value | 56,152 | 24,509 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 23,058 | 26,129 |
Available for sale securities, gross unrealized holding gains | 489 | 103 |
Available for sale securities, gross unrealized holding losses | 3 | 1 |
Available for sale securities, fair value | 23,544 | 26,231 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 90,158 | 61,017 |
Available for sale securities, gross unrealized holding gains | 1,190 | 492 |
Available for sale securities, gross unrealized holding losses | 9 | 253 |
Available for sale securities, fair value | 91,339 | 61,256 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 28,449 | 73,998 |
Available for sale securities, gross unrealized holding gains | 489 | 441 |
Available for sale securities, gross unrealized holding losses | 0 | 341 |
Available for sale securities, fair value | 28,938 | 74,098 |
Corporate Debt Securities [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 500 | 500 |
Available for sale securities, gross unrealized holding gains | 0 | 0 |
Available for sale securities, gross unrealized holding losses | 74 | 80 |
Available for sale securities, fair value | 426 | 420 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 3,173 | 2,232 |
Available for sale securities, gross unrealized holding gains | 2 | 0 |
Available for sale securities, gross unrealized holding losses | 4 | 0 |
Available for sale securities, fair value | 3,171 | 2,232 |
Equity Securities [Member] | ||
Available-for-sale: | ||
Available for sale securities, amortized cost | 1,010 | 1,010 |
Available for sale securities, gross unrealized holding gains | 0 | 0 |
Available for sale securities, gross unrealized holding losses | 52 | 43 |
Available for sale securities, fair value | $ 958 | $ 967 |
Note 6 - Securities (Details)51
Note 6 - Securities (Details) - Available-for-sale Debt Securities by Contractual Maturity $ in Thousands | Sep. 30, 2015USD ($) |
Amounts maturing in: | |
One year or less | $ 0 |
One year or less | 0 |
After one year through five years | 21,743 |
After one year through five years | 22,130 |
After five years through ten years | 78,215 |
After five years through ten years | 79,648 |
After ten years | 2,712 |
After ten years | 2,671 |
Total | 244,335 |
Total | 248,270 |
Collateralized Mortgage Obligations [Member] | |
Amounts maturing in: | |
Securities without a single maturity, amortized cost | 113,216 |
Securities without a single maturity, fair value | 114,883 |
Residential Mortgage Backed Securities [Member] | |
Amounts maturing in: | |
Securities without a single maturity, amortized cost | 28,449 |
Securities without a single maturity, fair value | $ 28,938 |
Note 6 - Securities (Details)52
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | |
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 11 | 13 |
Fair value, less than 12 months | $ 8,927 | $ 59,338 |
Gross unrealized losses, less than 12 months | $ 23 | $ 209 |
Number of securities, 12 months or greater | 3 | 12 |
Fair value, 12 months or greater | $ 1,635 | $ 47,943 |
Gross unrealized losses, 12 months or greater | $ 131 | $ 559 |
Number of securities | 14 | 25 |
Fair value | $ 10,562 | $ 107,281 |
Gross unrealized losses | $ 154 | $ 768 |
US Government Agencies Debt Securities [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 0 | 2 |
Fair value, less than 12 months | $ 0 | $ 9,513 |
Gross unrealized losses, less than 12 months | $ 0 | $ 47 |
Number of securities, 12 months or greater | 0 | 0 |
Fair value, 12 months or greater | $ 0 | $ 0 |
Gross unrealized losses, 12 months or greater | $ 0 | $ 0 |
Number of securities | 0 | 2 |
Fair value | $ 0 | $ 9,513 |
Gross unrealized losses | $ 0 | $ 47 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 1 | 0 |
Fair value, less than 12 months | $ 1,513 | $ 0 |
Gross unrealized losses, less than 12 months | $ 7 | $ 0 |
Number of securities, 12 months or greater | 1 | 1 |
Fair value, 12 months or greater | $ 261 | $ 254 |
Gross unrealized losses, 12 months or greater | $ 5 | $ 3 |
Number of securities | 2 | 1 |
Fair value | $ 1,774 | $ 254 |
Gross unrealized losses | $ 12 | $ 3 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities | 4 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 2 | 1 |
Fair value, less than 12 months | $ 812 | $ 653 |
Gross unrealized losses, less than 12 months | $ 3 | $ 1 |
Number of securities, 12 months or greater | 0 | 0 |
Fair value, 12 months or greater | $ 0 | $ 0 |
Gross unrealized losses, 12 months or greater | $ 0 | $ 0 |
Number of securities | 2 | 1 |
Fair value | $ 812 | $ 653 |
Gross unrealized losses | $ 3 | $ 1 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 2 | 7 |
Fair value, less than 12 months | $ 5,169 | $ 32,513 |
Gross unrealized losses, less than 12 months | $ 9 | $ 105 |
Number of securities, 12 months or greater | 0 | 3 |
Fair value, 12 months or greater | $ 0 | $ 8,693 |
Gross unrealized losses, 12 months or greater | $ 0 | $ 148 |
Number of securities | 2 | 10 |
Fair value | $ 5,169 | $ 41,206 |
Gross unrealized losses | $ 9 | $ 253 |
Residential Mortgage Backed Securities [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 0 | 3 |
Fair value, less than 12 months | $ 0 | $ 16,659 |
Gross unrealized losses, less than 12 months | $ 0 | $ 56 |
Number of securities, 12 months or greater | 0 | 6 |
Fair value, 12 months or greater | $ 0 | $ 37,619 |
Gross unrealized losses, 12 months or greater | $ 0 | $ 285 |
Number of securities | 0 | 9 |
Fair value | $ 0 | $ 54,278 |
Gross unrealized losses | $ 0 | $ 341 |
Corporate Debt Securities [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 0 | 0 |
Fair value, less than 12 months | $ 0 | $ 0 |
Gross unrealized losses, less than 12 months | $ 0 | $ 0 |
Number of securities, 12 months or greater | 1 | 1 |
Fair value, 12 months or greater | $ 426 | $ 420 |
Gross unrealized losses, 12 months or greater | $ 74 | $ 80 |
Number of securities | 1 | 1 |
Fair value | $ 426 | $ 420 |
Gross unrealized losses | $ 74 | $ 80 |
Negotiable Certificates of Deposit [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 6 | 0 |
Fair value, less than 12 months | $ 1,433 | $ 0 |
Gross unrealized losses, less than 12 months | $ 4 | $ 0 |
Number of securities, 12 months or greater | 0 | 0 |
Fair value, 12 months or greater | $ 0 | $ 0 |
Gross unrealized losses, 12 months or greater | $ 0 | $ 0 |
Number of securities | 6 | 0 |
Fair value | $ 1,433 | $ 0 |
Gross unrealized losses | $ 4 | $ 0 |
Equity Securities [Member] | ||
Note 6 - Securities (Details) - Available-for-sale Securities in a Continuous Unrealized Loss Position [Line Items] | ||
Number of securities, less than 12 months | 0 | 0 |
Fair value, less than 12 months | $ 0 | $ 0 |
Gross unrealized losses, less than 12 months | $ 0 | $ 0 |
Number of securities, 12 months or greater | 1 | 1 |
Fair value, 12 months or greater | $ 948 | $ 957 |
Gross unrealized losses, 12 months or greater | $ 52 | $ 43 |
Number of securities | 1 | 1 |
Fair value | $ 948 | $ 957 |
Gross unrealized losses | $ 52 | $ 43 |
Note 7 - Borrowed Funds (Detail
Note 7 - Borrowed Funds (Details) - USD ($) | Jun. 30, 2015 | Sep. 01, 2009 | Sep. 30, 2015 | Jul. 01, 2015 | Jun. 12, 2015 | Feb. 01, 2015 | Dec. 31, 2014 |
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | ||||||
Repayments of Subordinated Debt | $ 11,000,000 | ||||||
Subordinated Debt | $ 14,000,000 | $ 14,000,000 | $ 25,000,000 | ||||
Interest Payable | 11,187,000 | $ 10,262,000 | |||||
Subordinated Debt [Member] | |||||||
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Debt Instrument, Face Amount | $ 0.0450 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2019 | ||||||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 9.00% | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 4.50% | 9.00% | ||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | 44.00% | |||||
Interest Payable | $ 10,800,000 | ||||||
First Payment [Member] | Subordinated Debt [Member] | |||||||
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Percent of Principal Amount Outstanding, to Be Repaid | 16.00% | ||||||
Debt Instrument, Principal Amount Payable | $ 4,000,000 | ||||||
Second Payment [Member] | Subordinated Debt [Member] | |||||||
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Percent of Principal Amount Outstanding, to Be Repaid | 20.00% | ||||||
Debt Instrument, Principal Amount Payable | $ 5,000,000 | ||||||
Final Payment [Member] | Subordinated Debt [Member] | |||||||
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Percent of Principal Amount Outstanding, to Be Repaid | 20.00% | ||||||
Debt Instrument, Principal Amount Payable | $ 5,000,000 | ||||||
Maximum [Member] | Subordinated Debt [Member] | |||||||
Note 7 - Borrowed Funds (Details) [Line Items] | |||||||
Debt Instrument, Face Amount | $ 25,000,000 |
Note 7 - Borrowed Funds (Deta54
Note 7 - Borrowed Funds (Details) - Components of Borrowed Funds - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Components of Borrowed Funds [Abstract] | |||
Federal Home Loan Bank of Pittsburgh advances - overnight | $ 19,500 | ||
Federal Home Loan Bank of Pittsburgh advances - term | 73,558 | $ 61,194 | |
Subordinated debentures | 14,000 | $ 14,000 | 25,000 |
Junior subordinated debentures | 10,310 | 10,310 | |
Total borrowed funds | $ 117,368 | $ 96,504 |
Note 8 - Fair Value Measureme55
Note 8 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Available-for-sale securities: | ||
Available-for-sale securities, fair value | $ 249,228 | $ 218,989 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 44,700 | 29,276 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 56,152 | 24,509 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 23,544 | 26,231 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 91,339 | 61,256 |
Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 28,938 | 74,098 |
Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 426 | 420 |
Negotiable Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 3,171 | 2,232 |
Equity Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 958 | 967 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 958 | 967 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 958 | 967 |
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 248,270 | 218,022 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 44,700 | 29,276 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 56,152 | 24,509 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 23,544 | 26,231 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 91,339 | 61,256 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 28,938 | 74,098 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 426 | 420 |
Fair Value, Inputs, Level 2 [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 3,171 | 2,232 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Residential Mortgage [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Commercial Loan [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Negotiable Certificates of Deposit [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Available-for-sale securities: | ||
Available-for-sale securities, fair value | $ 0 | $ 0 |
Note 8 - Fair Value Measureme56
Note 8 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs [Abstract] | ||
Balance at January 1, | $ 0 | $ 571 |
Amortization | 0 | 0 |
Accretion | 0 | 0 |
Purchases | 0 | 0 |
Paydowns | 0 | (445) |
Balance at September 30, | 0 | 149 |
Included in earnings | 0 | 0 |
Included in other comprehensive income | $ 0 | $ 23 |
Note 8 - Fair Value Measureme57
Note 8 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Note 8 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Collateral-dependent impaired loans | [1] | $ 7,062 | $ 5,380 |
Other real estate owned | [1] | 1,582 | 2,087 |
Fair Value, Inputs, Level 1 [Member] | |||
Note 8 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Collateral-dependent impaired loans | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Note 8 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Collateral-dependent impaired loans | 0 | 0 | |
Other real estate owned | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Note 8 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Collateral-dependent impaired loans | 7,062 | 5,380 | |
Other real estate owned | $ 1,582 | $ 2,087 | |
[1] | Represents carrying value and related write-downs for which adjustments are based on appraised value less estimated selling costs. Management may makeadjustments to the appraised values as necessary to consider declines in real estate values since the time of the appraisal. Such adjustments are based onmanagement's knowledge of the local real estate markets. |
Note 8 - Fair Value Measureme58
Note 8 - Fair Value Measurements (Details) - Estimated Fair Values of the Company's Financial Instruments - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financial assets: | ||||
Cash and short term investments | $ 31,014 | $ 35,667 | $ 39,993 | $ 103,556 |
Securities available for sale | 249,228 | 218,989 | ||
FHLB and FRB Stock | 5,600 | 4,200 | ||
Loans held for sale | 4,634 | 603 | ||
Accrued interest receivable | 2,618 | 2,075 | ||
Financial liabilities: | ||||
Deposits | 852,042 | 795,336 | ||
Borrowed funds | 117,368 | 96,504 | ||
Accrued interest payable | 11,187 | 10,262 | ||
Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Securities available for sale | 249,228 | |||
Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Securities available for sale | 249,228 | |||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and short term investments | 35,667 | |||
Cash and short term investments | 35,667 | |||
Securities available for sale | 958 | 967 | ||
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and short term investments | 31,014 | |||
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and short term investments | 31,014 | |||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Securities available for sale | 248,270 | 218,022 | ||
FHLB and FRB Stock | 4,154 | |||
Loans held for sale | 603 | |||
Loans held for sale | 603 | |||
Accrued interest receivable | 2,075 | |||
Financial liabilities: | ||||
Deposits | 795,336 | |||
Deposits | 779,986 | |||
Borrowed funds | 96,504 | |||
Borrowed funds | 100,020 | |||
Accrued interest payable | 10,262 | |||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
FHLB and FRB Stock | 5,649 | |||
Loans held for sale | 4,634 | |||
Accrued interest receivable | 2,618 | |||
Financial liabilities: | ||||
Deposits | 852,042 | |||
Borrowed funds | 117,368 | |||
Accrued interest payable | 11,187 | |||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
FHLB and FRB Stock | 5,649 | |||
Loans held for sale | 4,634 | |||
Accrued interest receivable | 2,618 | |||
Financial liabilities: | ||||
Deposits | 837,071 | |||
Borrowed funds | 117,595 | |||
Accrued interest payable | 11,187 | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Securities available for sale | 0 | 0 | ||
Loans, net | 658,747 | |||
Loans, net | 659,231 | |||
Mortgage servicing rights | 333 | |||
Mortgage servicing rights | $ 898 | |||
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 713,341 | |||
Mortgage servicing rights | 207 | |||
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Loans, net | 712,602 | |||
Mortgage servicing rights | $ 841 |
Note 9 - Earnings Per Share (De
Note 9 - Earnings Per Share (Details) - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
Restricted Stock [Member] | |||
Note 9 - Earnings Per Share (Details) [Line Items] | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 0 | 0 | |
Employee Stock Option [Member] | |||
Note 9 - Earnings Per Share (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 64,479 | 73,276 |
Note 9 - Earnings Per Share (60
Note 9 - Earnings Per Share (Details) - Calculation of Basic and Diluted Earnings Per Common Share - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Calculation of Basic and Diluted Earnings Per Common Share [Abstract] | ||||
Net income (in Dollars) | $ 2,337 | $ 3,358 | $ 6,631 | $ 13,451 |
Basic weighted-average number of common shares outstanding | 16,500,945 | 16,471,569 | 16,497,373 | 16,471,569 |
Plus: common share equivalents | 0 | 0 | 0 | 282 |
Diluted weighted-average number of common shares outstanding | 16,500,945 | 16,471,569 | 16,497,373 | 16,471,851 |
Income per common share: | ||||
Basic (in Dollars per share) | $ 0.14 | $ 0.20 | $ 0.40 | $ 0.82 |
Diluted (in Dollars per share) | $ 0.14 | $ 0.20 | $ 0.40 | $ 0.82 |
Note 10 - Other Comprehensive61
Note 10 - Other Comprehensive Income (Details) - Reclassifications Out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Available-for-sale securities: | ||||
Reclassification adjustment for net gains reclassified into net income | $ (4) | $ (2,958) | $ (2,302) | $ (6,006) |
Taxes | 166 | (40) | 326 | |
Net of tax amount | 3 | 1,952 | 1,520 | 3,721 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Available-for-sale securities: | ||||
Taxes | 1 | 1,006 | 782 | 1,917 |
Net of tax amount | (3) | (1,952) | (1,520) | (3,721) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | ||||
Available-for-sale securities: | ||||
Reclassification adjustment for net gains reclassified into net income | $ (4) | $ (2,958) | $ (2,302) | $ (5,638) |
Note 10 - Other Comprehensive62
Note 10 - Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in Accumulated Other Comprehensive Income [Abstract] | ||||
Beginning balance | $ 279 | $ 2,406 | $ 1,138 | $ (3,092) |
Other comprehensive income (loss) before reclassifications | 2,287 | (319) | 2,945 | 6,948 |
Amounts reclassified from accumulated other comprehensive income (loss) | (3) | (1,952) | (1,520) | (3,721) |
Net other comprehensive income (loss) during the period | 2,284 | (2,271) | 1,425 | 3,227 |
Ending balance | $ 2,563 | $ 135 | $ 2,563 | $ 135 |
Note 11 - Related Party Trans63
Note 11 - Related Party Transactions (Details) $ in Thousands | Sep. 01, 2015USD ($) | Jun. 30, 2015USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Jul. 01, 2015 | Jun. 12, 2015 | Feb. 01, 2015 | Dec. 31, 2014USD ($) |
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Loans and Leases Receivable, Net Amount | $ 713,341 | $ 713,341 | $ 658,747 | |||||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | |||||||||
Subordinated Debt | $ 14,000 | $ 14,000 | $ 14,000 | 25,000 | ||||||
Number of Noteholders Electing to Sell Subordinated Notes | 7 | 7 | ||||||||
Subordinated Notes of Non-Related Parties Purchased by Group | $ 10,000 | $ 10,000 | ||||||||
Repayments of Subordinated Debt | $ 11,000 | |||||||||
Subordinated Liabilities, Extinguished | 11,000 | |||||||||
Related Party Transaction, Interest Paid | $ 293 | |||||||||
Subordinated Debt [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 4.50% | 9.00% | |||||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | 44.00% | ||||||||
Director [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Transaction Amount of Participation Interest | 5,200 | |||||||||
Related Party Transaction Amount of Participation Interest Outstanding | 3,000 | |||||||||
Interest Expense, Related Party | 99 | $ 223 | 507 | $ 675 | ||||||
Director [Member] | Line of Credit [Member] | Commercial Loan [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Loans and Leases Receivable, Net Amount | 4,500 | $ 4,500 | ||||||||
Director [Member] | Annual Servicing Fee on Participation Balance [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Transaction, Rate | 0.25% | |||||||||
Directors Executive Officers and Their Related Parties [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Deposit Liabilities | 111,200 | $ 111,200 | 77,400 | |||||||
Related Party Transactions, Interest Paid On Deposits | 222 | 69 | ||||||||
Related Party Transactions, Subordinated Debt | 8,600 | 8,600 | $ 9,000 | |||||||
Subordinated Liabilities, Extinguished | $ 6,800 | |||||||||
Related Party Transaction, Interest Paid | $ 134 | 0 | ||||||||
Related Party Transactions, Interest Accrued and Unpaid | 3,900 | 3,900 | ||||||||
Not-for-Profit Company, Related Party to Director [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Deposit Liabilities | 92,200 | 24,700 | 24,700 | |||||||
Not-for-Profit Company, Related Party to Director [Member] | Insured Cash Sweep [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Deposit Liabilities | 63,600 | 63,600 | ||||||||
Various Companies of Related Parties [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 900 | $ 1,200 | $ 1,700 | $ 2,200 | ||||||
Related Party Noteholders [Member] | ||||||||||
Note 11 - Related Party Transactions (Details) [Line Items] | ||||||||||
Subordinated Liabilities, Additions | 6,400 | |||||||||
Repayments of Subordinated Debt | $ 11,000 |
Note 11 - Related Party Trans64
Note 11 - Related Party Transactions (Details) - Related Party Loans - Directors Executive Officers and Their Related Parties [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Related Party Transaction [Line Items] | |||||
Balance, beginning of period | $ 40,486 | $ 30,303 | $ 36,783 | $ 29,301 | |
Balance, end of period | 51,644 | 41,635 | 51,644 | 41,635 | |
Additions, new loans and advances | 20,881 | 25,141 | 52,282 | 47,998 | |
Repayments | (9,723) | (13,725) | (37,421) | (35,580) | |
Other (1) | [1] | $ 0 | $ (84) | $ 0 | $ (84) |
[1] | Represents loans related to parties that ceased being related parties during period |
Note 11 - Related Party Trans65
Note 11 - Related Party Transactions (Details) - Subordinated Notes - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2015 |
Subordinated Borrowing [Line Items] | ||
Balance, beginning of period | $ 25,000 | |
Principal reductions | (11,000) | |
Balance, end of period | $ 14,000 | 14,000 |
Related Party Noteholders [Member] | ||
Subordinated Borrowing [Line Items] | ||
Balance, beginning of period | 9,000 | |
Assignments | 6,429 | |
Principal reductions | (6,789) | |
Balance, end of period | 8,640 | |
Other Noteholders [Member] | ||
Subordinated Borrowing [Line Items] | ||
Balance, beginning of period | 16,000 | |
Assignments | (6,429) | |
Principal reductions | (4,211) | |
Balance, end of period | $ 5,360 |
Note 12 - Stock Compensation 66
Note 12 - Stock Compensation Plans (Details) - USD ($) | Mar. 01, 2015 | Dec. 01, 2014 | Mar. 01, 2014 | Dec. 02, 2013 | Aug. 30, 2000 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Oct. 29, 2014 | Dec. 31, 2013 | Nov. 27, 2013 |
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 0 | 0 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 | $ 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |||||||||
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTotalCost | $ 179,000 | $ 65,000 | $ 77,000 | $ 61,000 | |||||||
The 2000 Employee Stock Incentive Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercise Period | 6 months | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 30, 2010 | ||||||||||
Allocated Share-based Compensation Expense | $ 0 | 0 | |||||||||
The 2000 Independent Directors Stock Option Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 550,000 | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Exercise Period | 6 months | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 30, 2010 | ||||||||||
Allocated Share-based Compensation Expense | $ 0 | 0 | |||||||||
Long-Term Incentive Compensation Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,200,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,069,683 | ||||||||||
Employee Stock Option [Member] | The 2000 Employee Stock Incentive Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,100,000 | ||||||||||
Employee Stock Option [Member] | The 2013 Employee Stock Grant Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 15,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross, Per Employee | 50 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 14,400 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.26 | ||||||||||
Employee Stock Option [Member] | The 2014 Employee Stock Grant Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 13,500 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross, Per Employee | 50 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 12,850 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 6.02 | ||||||||||
Restricted Stock [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 522,000 | $ 242,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 84,900 | 45,750 | |||||||||
Restricted Stock [Member] | Long-Term Incentive Compensation Plan [Member] | |||||||||||
Note 12 - Stock Compensation Plans (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 84,900 | 45,750 |
Note 12 - Stock Compensation 67
Note 12 - Stock Compensation Plans (Details) - Stock Option Plans - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Stock Option Plans [Abstract] | ||
Outstanding at January 1. | 64,479 | 82,598 |
Outstanding at January 1. (in Dollars per share) | $ 15.87 | $ 15.98 |
Granted | 0 | 0 |
Granted (in Dollars per share) | $ 0 | $ 0 |
Exercised | 0 | 0 |
Exercised (in Dollars per share) | $ 0 | $ 0 |
Forfeited | 0 | (9,322) |
Forfeited (in Dollars per share) | $ 0 | $ 16.05 |
Outstanding at September 30, | 64,479 | 73,276 |
Outstanding at September 30, (in Dollars per share) | $ 15.87 | $ 15.97 |
Options exercisable at September 30, | 64,479 | 73,276 |
Options exercisable at September 30, (in Dollars per share) | $ 15.97 | |
Stock-based compensation expense (in Dollars) | $ 0 | $ 0 |
Note 12 - Stock Compensation 68
Note 12 - Stock Compensation Plans (Details) - Options Outstanding | 9 Months Ended |
Sep. 30, 2015$ / sharesshares | |
Options Outstanding [Abstract] | |
$ 10.81 | |
$ 23.13 | |
(in Shares) | shares | 64,479 |
2 years 36 days | |
$ 15.87 | |
(in Shares) | shares | 64,479 |
$ 15.87 |
Note 12 - Stock Compensation 69
Note 12 - Stock Compensation Plans (Details) - Unvested Restricted Stock Awards - Restricted Stock [Member] - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Note 12 - Stock Compensation Plans (Details) - Unvested Restricted Stock Awards [Line Items] | ||
Unvested at January 1, | 45,750 | |
Unvested at January 1, | $ 6.70 | |
Awards granted | 84,900 | 45,750 |
Awards granted | $ 5.75 | $ 6.70 |
Forfeitures | (333) | |
Forfeitures | $ 6.70 | |
Vestings | (16,526) | |
Vestings | $ 6.70 | |
Unvested at September 30, | 113,791 | 45,750 |
Unvested at September 30, | $ 5.99 | $ 6.70 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Feb. 01, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jul. 01, 2015 | Jun. 12, 2015 | Jan. 01, 2015 | Dec. 31, 2014 |
Note 13 - Income Taxes (Details) [Line Items] | |||||||||
Deferred Tax Assets, Valuation Allowance | $ 30,300 | $ 30,300 | |||||||
Repayments of Subordinated Debt | $ 11,000 | ||||||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | ||||||||
Initial Base Assessment Rate for Deposit Insurance | 0.0005% | 0.0014% | |||||||
Reduction of Assessment Rate for Deposit Insurance | 64.30% | ||||||||
Valuation Allowance, Percentage of Net Deferred Tax Assets | 100.00% | ||||||||
Income Tax Expense (Benefit) | $ 166 | $ (40) | $ 326 | ||||||
Subordinated Debt [Member] | |||||||||
Note 13 - Income Taxes (Details) [Line Items] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 4.50% | 9.00% | ||||||
Percent of Principal Amount Outstanding, Pre-payment | 44.00% | 44.00% | |||||||
Principal Only Payment [Member] | |||||||||
Note 13 - Income Taxes (Details) [Line Items] | |||||||||
Repayments of Subordinated Debt | $ 11,000 |
Note 14 - Contingencies (Detail
Note 14 - Contingencies (Details) - USD ($) $ in Thousands | Apr. 01, 2014 | Mar. 28, 2014 | Feb. 27, 2015 | Jan. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | Feb. 04, 2014 | Dec. 31, 2013 |
Note 14 - Contingencies (Details) [Line Items] | ||||||||
Payments of Civil Money Penalty | $ 175 | |||||||
Accrued Civil Money Penalty | $ 175 | |||||||
Derivative Liability | $ 5,000 | |||||||
Litigation Settlement, Amount | $ 5,000 | |||||||
Accrued Liabilities and Other Liabilities | $ 2,500 | $ 2,500 | ||||||
Payments for Litigation Settlement Fees and Costs | $ 2,500 | |||||||
Partial Indemnification Individual Defendants Paid | $ 2,500 | |||||||
Subsidiaries [Member] | ||||||||
Note 14 - Contingencies (Details) [Line Items] | ||||||||
Payments of Civil Money Penalty | $ 1,500 | |||||||
Accrued Civil Money Penalty | $ 1,500 |