Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 12, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'MERCANTILE BANK CORPORATION | ' |
Entity Central Index Key | '0001042729 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 8,707,534 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash and due from banks | $33,207,000 | $20,302,000 |
Interest-bearing deposit balances | 6,428,000 | 10,822,000 |
Federal funds sold | 86,283,000 | 104,879,000 |
Total cash and cash equivalents | 125,918,000 | 136,003,000 |
Securities available for sale | 123,793,000 | 138,314,000 |
Federal Home Loan Bank stock | 11,961,000 | 11,961,000 |
Loans | 1,075,487,000 | 1,041,189,000 |
Allowance for loan losses | -25,195,000 | -28,677,000 |
Loans, net | 1,050,292,000 | 1,012,512,000 |
Premises and equipment, net | 25,159,000 | 25,919,000 |
Bank owned life insurance | 51,073,000 | 50,048,000 |
Accrued interest receivable | 3,777,000 | 3,874,000 |
Other real estate owned and repossessed assets | 3,549,000 | 6,970,000 |
Net deferred tax asset | 19,771,000 | 22,015,000 |
Other assets | 6,710,000 | 15,310,000 |
Total assets | 1,422,003,000 | 1,422,926,000 |
Deposits | ' | ' |
Noninterest-bearing | 216,055,000 | 190,241,000 |
Interest-bearing | 905,454,000 | 944,963,000 |
Total deposits | 1,121,509,000 | 1,135,204,000 |
Securities sold under agreements to repurchase | 65,680,000 | 64,765,000 |
Federal Home Loan Bank advances | 45,000,000 | 35,000,000 |
Subordinated debentures | 32,990,000 | 32,990,000 |
Accrued interest and other liabilities | 6,990,000 | 8,377,000 |
Total liabilities | 1,272,169,000 | 1,276,336,000 |
Shareholders' equity | ' | ' |
Preferred stock, no par value; 1,000,000 shares authorized; none issued | 0 | 0 |
Common stock, no par value; 20,000,000 shares authorized; 8,707,534 shares outstanding at September 30, 2013 and 8,706,251 shares outstanding at December 31, 2012 | 163,629,000 | 166,074,000 |
Retained earnings (deficit) | -9,264,000 | -21,134,000 |
Accumulated other comprehensive income (loss) | -4,531,000 | 1,650,000 |
Total shareholders' equity | 149,834,000 | 146,590,000 |
Total liabilities and shareholders' equity | $1,422,003,000 | $1,422,926,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0 | $0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0 | $0 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares outstanding | 8,707,534 | 8,706,251 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Interest income | ' | ' | ' | ' |
Loans, including fees | $13,411,000 | $13,386,000 | $38,944,000 | $40,653,000 |
Securities, taxable | 1,003,000 | 1,009,000 | 3,017,000 | 3,351,000 |
Securities, tax-exempt | 211,000 | 319,000 | 763,000 | 1,109,000 |
Federal funds sold | 38,000 | 46,000 | 127,000 | 116,000 |
Interest-bearing deposit balances | 4,000 | 8,000 | 17,000 | 22,000 |
Total interest income | 14,667,000 | 14,768,000 | 42,868,000 | 45,251,000 |
Interest expense | ' | ' | ' | ' |
Deposits | 2,190,000 | 2,728,000 | 6,733,000 | 8,581,000 |
Short-term borrowings | 19,000 | 39,000 | 57,000 | 130,000 |
Federal Home Loan Bank advances | 141,000 | 183,000 | 379,000 | 871,000 |
Other borrowings | 323,000 | 234,000 | 938,000 | 705,000 |
Total interest expense | 2,673,000 | 3,184,000 | 8,107,000 | 10,287,000 |
Net interest income | 11,994,000 | 11,584,000 | 34,761,000 | 34,964,000 |
Provision for loan losses | -1,700,000 | -400,000 | -4,700,000 | -3,400,000 |
Net interest income after provision for loan losses | 13,694,000 | 11,984,000 | 39,461,000 | 38,364,000 |
Noninterest income | ' | ' | ' | ' |
Services charges on accounts | 397,000 | 378,000 | 1,155,000 | 1,142,000 |
Earnings on bank owned life insurance | 337,000 | 378,000 | 1,025,000 | 1,170,000 |
Mortgage banking activities | 194,000 | 447,000 | 671,000 | 1,021,000 |
Rental income from other real estate owned | 99,000 | 270,000 | 454,000 | 806,000 |
Other income | 656,000 | 584,000 | 1,976,000 | 1,792,000 |
Total noninterest income | 1,683,000 | 2,057,000 | 5,281,000 | 5,931,000 |
Noninterest expense | ' | ' | ' | ' |
Salaries and benefits | 5,256,000 | 4,849,000 | 15,094,000 | 14,394,000 |
Occupancy | 639,000 | 598,000 | 1,921,000 | 1,947,000 |
Furniture and equipment depreciation, rent and maintenance | 242,000 | 282,000 | 754,000 | 888,000 |
Problem asset costs | 373,000 | 1,576,000 | 783,000 | 4,931,000 |
FDIC insurance costs | 184,000 | 294,000 | 604,000 | 894,000 |
Merger-related costs | 719,000 | 0 | 779,000 | 0 |
Other expense | 2,509,000 | 2,586,000 | 7,383,000 | 7,389,000 |
Total noninterest expenses | 9,922,000 | 10,185,000 | 27,318,000 | 30,443,000 |
Income before federal income tax expense | 5,455,000 | 3,856,000 | 17,424,000 | 13,852,000 |
Federal income tax expense | 2,002,000 | 1,240,000 | 5,554,000 | 4,365,000 |
Net income | 3,453,000 | 2,616,000 | 11,870,000 | 9,487,000 |
Preferred stock dividends and accretion | 0 | 0 | 0 | 1,030,000 |
Net income attributable to common shares | $3,453,000 | $2,616,000 | $11,870,000 | $8,457,000 |
Basic earnings per share | $0.40 | $0.30 | $1.36 | $0.98 |
Diluted earnings per share | $0.40 | $0.30 | $1.36 | $0.95 |
Cash dividends per share | $0.12 | $0 | $0.33 | $0 |
Average basic shares outstanding | 8,707,038 | 8,622,719 | 8,706,133 | 8,612,831 |
Average diluted shares outstanding | 8,725,268 | 8,653,751 | 8,719,956 | 8,896,728 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $3,453,000 | $2,616,000 | $11,870,000 | $9,487,000 |
Unrealized holding gains (losses) on securities available for sale | -5,376,000 | -188,000 | -10,165,000 | -917,000 |
Fair value of interest rate swap | -79,000 | -459,000 | 718,000 | -1,106,000 |
Other comprehensive income, before tax | -5,455,000 | -647,000 | -9,447,000 | -2,023,000 |
Tax effect of unrealized holding gains (losses) on securities available for sale | 1,841,000 | 64,000 | 3,517,000 | 321,000 |
Tax effect of fair value of interest rate swap | -25,000 | 161,000 | -251,000 | 387,000 |
Other comprehensive income, tax effect | 1,816,000 | 225,000 | 3,266,000 | 708,000 |
Other comprehensive income (loss), net of tax effect | -3,639,000 | -422,000 | -6,181,000 | -1,315,000 |
Comprehensive income (loss) | ($186,000) | $2,194,000 | $5,689,000 | $8,172,000 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Common Stock Warrant [Member] | Retained Earnings (Deficit) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Opening Balances at Dec. 31, 2011 | $164,999,000 | $20,331,000 | $172,841,000 | $1,138,000 | ($32,639,000) | $3,328,000 |
Repurchase of preferred stock | -21,000,000 | -21,000,000 | ' | ' | ' | ' |
Preferred stock dividends | -362,000 | ' | ' | ' | -362,000 | ' |
Accretion of preferred stock | 0 | 669,000 | ' | ' | -669,000 | ' |
Repurchase of common stock warrant | -7,465,000 | ' | -6,327,000 | -1,138,000 | ' | ' |
Employee stock purchase plan (1,098 shares, 1,743 shares in 2013 and 2012 respectively) | 29,000 | ' | 29,000 | ' | ' | ' |
Stock option exercises (2,950 shares, 47,007 shares in 2013 and 2012 respectively) | 488,000 | ' | 488,000 | ' | ' | ' |
Stock tendered for stock option exercises (2,419 shares, 18,718 shares in 2013 and 2012 respectively) | -317,000 | ' | -317,000 | ' | ' | ' |
Stock-based compensation expense | 14,000 | ' | 14,000 | ' | ' | ' |
Net income | 9,487,000 | ' | ' | ' | 9,487,000 | ' |
Change in net unrealized holding gain on securities available for sale, net of tax effect | -596,000 | ' | ' | ' | ' | -596,000 |
Change in fair value of interest rate swap, net of tax effect | -719,000 | ' | ' | ' | ' | -719,000 |
Ending Balances at Sep. 30, 2012 | 144,558,000 | 0 | 166,728,000 | 0 | -24,183,000 | 2,013,000 |
Opening Balances at Dec. 31, 2012 | 146,590,000 | 0 | 166,074,000 | ' | -21,134,000 | 1,650,000 |
Employee stock purchase plan (1,098 shares, 1,743 shares in 2013 and 2012 respectively) | 19,000 | ' | 19,000 | ' | ' | ' |
Dividend reinvestment plan (1,954 shares) | 33,000 | ' | 33,000 | ' | ' | ' |
Stock option exercises (2,950 shares, 47,007 shares in 2013 and 2012 respectively) | 52,000 | ' | 52,000 | ' | ' | ' |
Stock tendered for stock option exercises (2,419 shares, 18,718 shares in 2013 and 2012 respectively) | -52,000 | ' | -52,000 | ' | ' | ' |
Stock-based compensation expense | 354,000 | ' | 354,000 | ' | ' | ' |
Cash dividends ($0.33 per common share) | -2,851,000 | ' | -2,851,000 | ' | ' | ' |
Net income | 11,870,000 | ' | ' | ' | 11,870,000 | ' |
Change in net unrealized holding gain on securities available for sale, net of tax effect | -6,648,000 | ' | ' | ' | ' | -6,648,000 |
Change in fair value of interest rate swap, net of tax effect | 467,000 | ' | ' | ' | ' | 467,000 |
Ending Balances at Sep. 30, 2013 | $149,834,000 | $0 | $163,629,000 | ' | ($9,264,000) | ($4,531,000) |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Shares issued using employee stock purchase plan | 1,098 | 1,743 |
Shares issued using dividend reinvestment plan | 1,954 | ' |
Shares issued using stock option exercises | 2,950 | 47,007 |
Number of shares tendered for stock option | 2,419 | 18,718 |
Cash dividends per share | $0.33 | $0 |
Common Stock [Member] | ' | ' |
Shares issued using employee stock purchase plan | 1,098 | 1,743 |
Shares issued using dividend reinvestment plan | 1,954 | ' |
Shares issued using stock option exercises | 2,950 | 47,007 |
Number of shares tendered for stock option | 2,419 | 18,718 |
Cash dividends per share | $0.33 | ' |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities | ' | ' |
Net income | $11,870,000 | $9,487,000 |
Adjustments to reconcile net income to net cash from operating activities | ' | ' |
Depreciation and amortization | 1,629,000 | 1,669,000 |
Provision for loan losses | -4,700,000 | -3,400,000 |
Stock-based compensation expense | 354,000 | 14,000 |
Proceeds from sales of mortgage loans held for sale | 43,789,000 | 57,233,000 |
Origination of mortgage loans held for sale | -41,147,000 | -62,347,000 |
Net gain from sales of mortgage loans held for sale | -550,000 | -853,000 |
Net (gain) loss from sale and valuation write-down of foreclosed assets | -1,024,000 | 1,817,000 |
Earnings on bank owned life insurance | -1,025,000 | -1,170,000 |
Net change in: | ' | ' |
Accrued interest receivable | 97,000 | 464,000 |
Other assets | 13,451,000 | 2,638,000 |
Accrued expenses and other liabilities | -776,000 | 1,652,000 |
Net cash from operating activities | 21,968,000 | 7,204,000 |
Cash flows from investing activities | ' | ' |
Loan originations and payments, net | -37,232,000 | 27,283,000 |
Purchases of securities available for sale | -37,492,000 | -45,973,000 |
Proceeds from maturities, calls and repayments of securities available for sale | 31,578,000 | 82,580,000 |
Proceeds from sales of securities available for sale | 10,310,000 | 0 |
Proceeds from sales of foreclosed assets | 6,505,000 | 12,753,000 |
Purchases of premises and equipment | -250,000 | -415,000 |
Net cash from (for) investing activities | -26,581,000 | 76,228,000 |
Cash flows from financing activities | ' | ' |
Net decrease in time deposits | -13,871,000 | -43,811,000 |
Net increase in all other deposits | 176,000 | 39,302,000 |
Net increase (decrease) in securities sold under agreements to repurchase | 915,000 | -12,538,000 |
Proceeds from Federal Home Loan Bank advances | 10,000,000 | 20,000,000 |
Maturities of Federal Home Loan Bank advances | 0 | -30,000,000 |
Net increase (decrease) in other borrowed money | 107,000 | -1,000 |
Repurchase of preferred stock | 0 | -21,000,000 |
Repurchase of common stock warrant | 0 | -7,465,000 |
Proceeds from stock option exercises, net of cashless exercises | 0 | 171,000 |
Employee stock purchase plan | 19,000 | 29,000 |
Dividend reinvestment plan | 33,000 | 0 |
Payment of cash dividends on preferred stock | 0 | -496,000 |
Payment of cash dividends to common shareholders | -2,851,000 | 0 |
Net cash for financing activities | -5,472,000 | -55,809,000 |
Net change in cash and cash equivalents | -10,085,000 | 27,623,000 |
Cash and cash equivalents at beginning of period | 136,003,000 | 76,372,000 |
Cash and cash equivalents at end of period | 125,918,000 | 103,995,000 |
Cash paid during the period for: | ' | ' |
Interest | 8,779,000 | 11,157,000 |
Federal income tax | 0 | 0 |
Noncash financing and investing activities: | ' | ' |
Transfers from loans to foreclosed assets | $2,060,000 | $10,448,000 |
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
SIGNIFICANT ACCOUNTING POLICIES | ' | |
1 | SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation: The unaudited financial statements for the three and nine months ended September 30, 2013 include the consolidated results of operations of Mercantile Bank Corporation and its consolidated subsidiaries. These subsidiaries include Mercantile Bank of Michigan (“our bank”) and our bank’s two subsidiaries, Mercantile Bank Real Estate Co., LLC (“our real estate company”) and Mercantile Insurance Center, Inc. (“our insurance center”). These consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and Item 303(b) of Regulation S-K and do not include all disclosures required by accounting principles generally accepted in the United States of America for a complete presentation of our financial condition and results of operations. In the opinion of management, the information reflects all adjustments (consisting only of normal recurring adjustments) which are necessary in order to make the financial statements not misleading and for a fair presentation of the results of operations for such periods. The results for the period ended September 30, 2013 should not be considered as indicative of results for a full year. For further information, refer to the consolidated financial statements and footnotes included in our annual report on Form 10-K for the year ended December 31, 2012. | ||
We formed a business trust, Mercantile Bank Capital Trust I (“the trust”), in 2004 to issue trust preferred securities. We issued subordinated debentures to the trust in return for the proceeds raised from the issuance of the trust preferred securities. The trust is not consolidated, but instead we report the subordinated debentures issued to the trust as a liability. | ||
Earnings Per Share: Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under our stock-based compensation plans and our common stock warrant granted to the U.S. Department of Treasury that we repurchased on July 3, 2012, and are determined using the treasury stock method. Our unvested restricted shares, which contain non-forfeitable rights to dividends whether paid or accrued (i.e., participating securities), are included in the number of shares outstanding for both basic and diluted earnings per share calculations. In the event of a net loss, our unvested restricted shares are excluded from the calculation of both basic and diluted earnings per share. | ||
Approximately 64,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and nine months ended September 30, 2013. In addition, stock options for approximately 54,000 shares of common stock were included in determining diluted earnings per share for the three and nine months ended September 30, 2013. Stock options for approximately 94,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and nine months ended September 30, 2013. | ||
Approximately 38,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and nine months ended September 30, 2012. In addition, stock options for approximately 26,000 and 21,000 shares of common stock were included in determining diluted earnings per share for the three and nine months ended September 30, 2012, respectively. Also, our stock warrant for approximately 616,000 shares of common stock was included in determining diluted earnings per share for the three and nine months ended September 30, 2012 taking into account our full repurchase of said stock warrant on July 3, 2012. Stock options for approximately 137,000 and 142,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and nine months ended September, 30, 2012, respectively. | ||
Loans: Loans that we have the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. | ||
Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. | ||
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||
Allowance for Loan Losses: The allowance for loan losses (“allowance”) is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when we believe the uncollectability of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. We estimate the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in our judgment, should be charged-off. | ||
A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. | ||
Troubled Debt Restructurings: A loan is accounted for as a troubled debt restructuring if we, for economic or legal reasons, grant a concession to a borrower considered to be experiencing financial difficulties that we would not otherwise consider. A troubled debt restructuring may involve the receipt of assets from the debtor in partial or full satisfaction of the loan, or a modification of terms such as a reduction of the stated interest rate or balance of the loan, a reduction of accrued interest, an extension of the maturity date or renewal of the loan at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. Troubled debt restructurings can be in either accrual or nonaccrual status. Nonaccrual troubled debt restructurings are included in nonperforming loans. Accruing troubled debt restructurings are generally excluded from nonperforming loans as it is considered probable that all contractual principal and interest due under the restructured terms will be collected. | ||
In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described above under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans. | ||
Derivatives: Derivative financial instruments are recognized as assets or liabilities at fair value. The accounting for changes in the fair value of derivatives depends on the use of the derivatives and whether the derivatives qualify for hedge accounting. Used as part of our asset and liability management to help manage interest rate risk, our derivatives have historically consisted of interest rate swap agreements that qualified for hedge accounting. In February 2012, we entered into an interest rate swap agreement that qualifies for hedge accounting. However, in June 2011, we simultaneously purchased and sold an interest rate cap, a structure commonly referred to as a “cap corridor”, which does not qualify for hedge accounting. The current outstanding interest rate swap and cap corridor are discussed in more detail in Note 9. We do not use derivatives for trading purposes. | ||
Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various loans and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. | ||
If designated as a hedge, we formally document the relationship between derivatives as hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivative as a hedge is no longer appropriate or intended. | ||
Adoption of New Accounting Standards: In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which is intended to improve the reporting of reclassifications out of accumulated other comprehensive income. The ASU requires an entity to report, either on the face of the income statement or in the notes to the financial statements, the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the income statement. We adopted this ASU in the first quarter of 2013. |
SECURITIES
SECURITIES | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
SECURITIES | ' | ||||||||||||||||||||||||
2 | SECURITIES | ||||||||||||||||||||||||
The amortized cost and fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 97,460,000 | $ | 376,000 | $ | (8,542,000 | ) | $ | 89,294,000 | ||||||||||||||||
Mortgage-backed securities | 13,382,000 | 1,129,000 | 0 | 14,511,000 | |||||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Municipal general obligation bonds | 17,275,000 | 432,000 | (1,000 | ) | 17,706,000 | ||||||||||||||||||||
Municipal revenue bonds | 877,000 | 40,000 | 0 | 917,000 | |||||||||||||||||||||
Mutual funds | 1,376,000 | 0 | (11,000 | ) | 1,365,000 | ||||||||||||||||||||
$ | 130,370,000 | $ | 1,977,000 | $ | (8,554,000 | ) | $ | 123,793,000 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 78,447,000 | $ | 1,039,000 | $ | (388,000 | ) | $ | 79,098,000 | ||||||||||||||||
Mortgage-backed securities | 20,182,000 | 1,814,000 | 0 | 21,996,000 | |||||||||||||||||||||
Michigan Strategic Fund bonds | 11,255,000 | 0 | 0 | 11,255,000 | |||||||||||||||||||||
Municipal general obligation bonds | 21,700,000 | 1,043,000 | 0 | 22,743,000 | |||||||||||||||||||||
Municipal revenue bonds | 1,726,000 | 91,000 | 0 | 1,817,000 | |||||||||||||||||||||
Mutual funds | 1,354,000 | 51,000 | 0 | 1,405,000 | |||||||||||||||||||||
$ | 134,664,000 | $ | 4,038,000 | $ | (388,000 | ) | $ | 138,314,000 | |||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 70,142,000 | $ | (7,691,000 | ) | $ | 6,134,000 | $ | (851,000 | ) | $ | 76,276,000 | $ | (8,542,000 | ) | ||||||||||
Mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal general obligation bonds | 394,000 | (1,000 | ) | 0 | 0 | 394,000 | (1,000 | ) | |||||||||||||||||
Municipal revenue bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Mutual funds | 1,365,000 | (11,000 | ) | 0 | 0 | 1,365,000 | (11,000 | ) | |||||||||||||||||
$ | 71,901,000 | $ | (7,703,000 | ) | $ | 6,134,000 | $ | (851,000 | ) | $ | 78,035,000 | $ | (8,554,000 | ) | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 33,555,000 | $ | (388,000 | ) | $ | 0 | $ | 0 | $ | 33,555,000 | $ | (388,000 | ) | |||||||||||
Mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal general obligation bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal revenue bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Mutual funds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
$ | 33,555,000 | $ | (388,000 | ) | $ | 0 | $ | 0 | $ | 33,555,000 | $ | (388,000 | ) | ||||||||||||
We evaluate securities for other-than-temporary impairment at least on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability we have to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. For those debt securities whose fair value is less than their amortized cost basis, we also consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and if we do not expect to recover the entire amortized cost basis of the security. In analyzing an issuer’s financial condition, we may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. | |||||||||||||||||||||||||
At September 30, 2013, 59 debt securities and one mutual fund with fair values totaling $78.0 million have unrealized losses aggregating $8.6 million. After we considered whether the securities were issued by the federal government or its agencies and whether downgrades by bond rating agencies had occurred, we determined that unrealized losses were due to changing interest rate environments. As we do not intend to sell our debt securities before recovery of their cost basis and we believe it is more likely than not that we will not be required to sell our debt securities before recovery of the cost basis, no unrealized losses are deemed to be other-than-temporary. | |||||||||||||||||||||||||
The amortized cost and fair values of debt securities at September 30, 2013, by maturity, are shown in the following table. The contractual maturity is utilized for U.S. Government agency debt obligations and municipal bonds. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Weighted average yields are also reflected, with yields for municipal securities shown at their tax equivalent yield. | |||||||||||||||||||||||||
Weighted | Amortized | Fair | |||||||||||||||||||||||
Average | Cost | Value | |||||||||||||||||||||||
Yield | |||||||||||||||||||||||||
Due in 2013 | 6.94 | % | $ | 355,000 | $ | 355,000 | |||||||||||||||||||
Due in 2014 through 2018 | 4.99 | 4,651,000 | 4,751,000 | ||||||||||||||||||||||
Due in 2019 through 2023 | 3.17 | 31,126,000 | 29,918,000 | ||||||||||||||||||||||
Due in 2024 and beyond | 3.64 | 79,480,000 | 72,893,000 | ||||||||||||||||||||||
Mortgage-backed securities | 5.19 | 13,382,000 | 14,511,000 | ||||||||||||||||||||||
Mutual funds | 2.09 | 1,376,000 | 1,365,000 | ||||||||||||||||||||||
3.74 | % | $ | 130,370,000 | $ | 123,793,000 | ||||||||||||||||||||
The amortized cost of securities issued by the State of Michigan and all its political subdivisions totaled $18.2 million and $23.4 million at September 30, 2013 and December 31, 2012, respectively, with estimated market values of $18.6 million and $24.6 million, respectively. Total securities of any other specific issuer, other than the U.S. Government and its agencies, did not exceed 10% of shareholders’ equity. | |||||||||||||||||||||||||
The carrying value of U.S. Government agency debt obligations and mortgage-backed securities that are pledged to secure repurchase agreements was $85.2 million and $83.8 million at September 30, 2013 and December 31, 2012, respectively. In addition, substantially all of our municipal bonds have been pledged to the Discount Window of the Federal Reserve Bank of Chicago. Investments in Federal Home Loan Bank stock are restricted and may only be resold or redeemed by the issuer. |
LOANS_AND_ALLOWANCE_FOR_LOAN_L
LOANS AND ALLOWANCE FOR LOAN LOSSES | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
LOANS AND ALLOWANCE FOR LOAN LOSSES | ' | ||||||||||||||||||||||||||||
3 | LOANS AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||
Our total loans at September 30, 2013 were $1.08 billion compared to $1.04 billion at December 31, 2012, an increase of $34.3 million, or 3.3%. The components of our loan portfolio disaggregated by class of loan within the loan portfolio segments at September 30, 2013 and December 31, 2012, and the percentage change in loans from the end of 2012 to the end of the third quarter of 2013, are as follows: | |||||||||||||||||||||||||||||
Percent | |||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | Increase | |||||||||||||||||||||||||||
Balance | % | Balance | % | (Decrease) | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 286,887,000 | 26.7 | % | $ | 285,322,000 | 27.4 | % | 0.5 | % | |||||||||||||||||||
Vacant land, land development, and residential construction | 40,741,000 | 3.8 | 48,099,000 | 4.6 | (15.3 | ) | |||||||||||||||||||||||
Real estate – owner occupied | 258,656,000 | 24.1 | 259,277,000 | 24.9 | (0.2 | ) | |||||||||||||||||||||||
Real estate – non-owner occupied | 368,301,000 | 34.2 | 324,886,000 | 31.2 | 13.4 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 53,178,000 | 4.9 | 50,922,000 | 4.9 | 4.4 | ||||||||||||||||||||||||
Total commercial | 1,007,763,000 | 93.7 | 968,506,000 | 93 | 4.1 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 36,575,000 | 3.4 | 38,917,000 | 3.7 | (6.0 | ) | |||||||||||||||||||||||
1-4 family mortgages | 31,149,000 | 2.9 | 33,766,000 | 3.3 | (7.8 | ) | |||||||||||||||||||||||
Total retail | 67,724,000 | 6.3 | 72,683,000 | 7 | (6.8 | ) | |||||||||||||||||||||||
Total loans | $ | 1,075,487,000 | 100 | % | $ | 1,041,189,000 | 100 | % | 3.3 | % | |||||||||||||||||||
Nonperforming loans as of September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Loans past due 90 days or more still accruing interest | $ | 0 | $ | 0 | |||||||||||||||||||||||||
Nonaccrual loans | 10,526,000 | 18,970,000 | |||||||||||||||||||||||||||
Total nonperforming loans | $ | 10,526,000 | $ | 18,970,000 | |||||||||||||||||||||||||
The recorded principal balance of nonaccrual loans was as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,581,000 | $ | 1,677,000 | |||||||||||||||||||||||||
Vacant land, land development, and residential construction | 922,000 | 2,194,000 | |||||||||||||||||||||||||||
Real estate – owner occupied | 570,000 | 2,087,000 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 4,642,000 | 9,010,000 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 764,000 | 2,021,000 | |||||||||||||||||||||||||||
Total commercial | 8,479,000 | 16,989,000 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 805,000 | 889,000 | |||||||||||||||||||||||||||
1-4 family mortgages | 1,242,000 | 1,092,000 | |||||||||||||||||||||||||||
Total retail | 2,047,000 | 1,981,000 | |||||||||||||||||||||||||||
Total nonaccrual loans | $ | 10,526,000 | $ | 18,970,000 | |||||||||||||||||||||||||
An age analysis of past due loans is as follows as of September 30, 2013: | |||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than 89 | Past Due | Loans | Balance > 89 | ||||||||||||||||||||||||
Past Due | Past Due | Days | Days and | ||||||||||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 22,000 | $ | 0 | $ | 631,000 | $ | 653,000 | $ | 286,234,000 | $ | 286,887,000 | $ | 0 | |||||||||||||||
Vacant land, land development, and residential construction | 0 | 0 | 85,000 | 85,000 | 40,656,000 | 40,741,000 | 0 | ||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 53,000 | 53,000 | 258,603,000 | 258,656,000 | 0 | ||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | 1,860,000 | 1,860,000 | 366,441,000 | 368,301,000 | 0 | ||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 264,000 | 264,000 | 52,914,000 | 53,178,000 | 0 | ||||||||||||||||||||||
Total commercial | 22,000 | 0 | 2,893,000 | 2,915,000 | 1,004,848,000 | 1,007,763,000 | 0 | ||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | 0 | 36,575,000 | 36,575,000 | 0 | ||||||||||||||||||||||
1-4 family mortgages | 25,000 | 0 | 463,000 | 488,000 | 30,661,000 | 31,149,000 | 0 | ||||||||||||||||||||||
Total retail | 25,000 | 0 | 463,000 | 488,000 | 67,236,000 | 67,724,000 | 0 | ||||||||||||||||||||||
Total past due loans | $ | 47,000 | $ | 0 | $ | 3,356,000 | $ | 3,403,000 | $ | 1,072,084,000 | $ | 1,075,487,000 | $ | 0 | |||||||||||||||
An age analysis of past due loans is as follows as of December 31, 2012: | |||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than 89 | Past Due | Loans | Balance > 89 | ||||||||||||||||||||||||
Past Due | Past Due | Days | Days and | ||||||||||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 80,000 | $ | 0 | $ | 871,000 | $ | 951,000 | $ | 284,371,000 | $ | 285,322,000 | $ | 0 | |||||||||||||||
Vacant land, land development, and residential construction | 289,000 | 0 | 614,000 | 903,000 | 47,196,000 | 48,099,000 | 0 | ||||||||||||||||||||||
Real estate – owner occupied | 199,000 | 0 | 1,337,000 | 1,536,000 | 257,741,000 | 259,277,000 | 0 | ||||||||||||||||||||||
Real estate – non-owner occupied | 303,000 | 0 | 1,123,000 | 1,426,000 | 323,460,000 | 324,886,000 | 0 | ||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 613,000 | 613,000 | 50,309,000 | 50,922,000 | 0 | ||||||||||||||||||||||
Total commercial | 871,000 | 0 | 4,558,000 | 5,429,000 | 963,077,000 | 968,506,000 | 0 | ||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 1,000 | 0 | 13,000 | 14,000 | 38,903,000 | 38,917,000 | 0 | ||||||||||||||||||||||
1-4 family mortgages | 47,000 | 190,000 | 437,000 | 674,000 | 33,092,000 | 33,766,000 | 0 | ||||||||||||||||||||||
Total retail | 48,000 | 190,000 | 450,000 | 688,000 | 71,995,000 | 72,683,000 | 0 | ||||||||||||||||||||||
Total past due loans | $ | 919,000 | $ | 190,000 | $ | 5,008,000 | $ | 6,117,000 | $ | 1,035,072,000 | $ | 1,041,189,000 | $ | 0 | |||||||||||||||
Impaired loans as of September 30, 2013, and average impaired loans for the three and nine months ended September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,632,000 | $ | 1,063,000 | $ | 1,170,000 | $ | 1,378,000 | |||||||||||||||||||||
Vacant land, land development and residential construction | 1,200,000 | 804,000 | 907,000 | 1,148,000 | |||||||||||||||||||||||||
Real estate – owner occupied | 575,000 | 347,000 | 865,000 | 1,159,000 | |||||||||||||||||||||||||
Real estate – non-owner occupied | 5,135,000 | 4,108,000 | 4,651,000 | 4,878,000 | |||||||||||||||||||||||||
Real estate – multi-family and residential rental | 1,008,000 | 337,000 | 425,000 | 487,000 | |||||||||||||||||||||||||
Total commercial | 10,550,000 | 6,659,000 | 8,018,000 | 9,050,000 | |||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 508,000 | 464,000 | 466,000 | 474,000 | |||||||||||||||||||||||||
1-4 family mortgages | 1,398,000 | 754,000 | 715,000 | 746,000 | |||||||||||||||||||||||||
Total retail | 1,906,000 | 1,218,000 | 1,181,000 | 1,220,000 | |||||||||||||||||||||||||
Total with no related allowance recorded | $ | 12,456,000 | $ | 7,877,000 | $ | 9,199,000 | $ | 10,270,000 | |||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,002,000 | $ | 1,941,000 | $ | 1,035,000 | $ | 1,764,000 | $ | 1,990,000 | |||||||||||||||||||
Vacant land, land development and residential construction | 4,557,000 | 4,418,000 | 1,216,000 | 4,466,000 | 3,158,000 | ||||||||||||||||||||||||
Real estate – owner occupied | 2,368,000 | 2,310,000 | 901,000 | 2,330,000 | 2,810,000 | ||||||||||||||||||||||||
Real estate – non-owner occupied | 28,358,000 | 28,346,000 | 9,785,000 | 28,789,000 | 30,216,000 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2,820,000 | 2,752,000 | 923,000 | 2,639,000 | 2,973,000 | ||||||||||||||||||||||||
Total commercial | 40,105,000 | 39,767,000 | 13,860,000 | 39,988,000 | 41,147,000 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 322,000 | 293,000 | 102,000 | 309,000 | 339,000 | ||||||||||||||||||||||||
1-4 family mortgages | 2,370,000 | 2,340,000 | 1,101,000 | 2,480,000 | 1,477,000 | ||||||||||||||||||||||||
Total retail | 2,692,000 | 2,633,000 | 1,203,000 | 2,789,000 | 1,816,000 | ||||||||||||||||||||||||
Total with an allowance recorded | $ | 42,797,000 | $ | 42,400,000 | $ | 15,063,000 | $ | 42,777,000 | $ | 42,963,000 | |||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Commercial | $ | 50,655,000 | $ | 46,426,000 | $ | 13,860,000 | $ | 48,006,000 | $ | 50,197,000 | |||||||||||||||||||
Retail | 4,598,000 | 3,851,000 | 1,203,000 | 3,970,000 | 3,036,000 | ||||||||||||||||||||||||
Total impaired loans | $ | 55,253,000 | $ | 50,277,000 | $ | 15,063,000 | $ | 51,976,000 | $ | 53,233,000 | |||||||||||||||||||
Interest income of $0.7 million and $2.2 million was recognized on impaired loans during the third quarter and first nine months of 2013, respectively. | |||||||||||||||||||||||||||||
Impaired loans as of December 31, 2012, and average impaired loans for the three and nine months ended September 30, 2012, were as follows: | |||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,926,000 | $ | 1,617,000 | $ | 3,209,000 | $ | 3,521,000 | |||||||||||||||||||||
Vacant land, land development and residential construction | 2,356,000 | 1,401,000 | 1,480,000 | 1,959,000 | |||||||||||||||||||||||||
Real estate – owner occupied | 2,368,000 | 1,557,000 | 3,391,000 | 3,535,000 | |||||||||||||||||||||||||
Real estate – non-owner occupied | 9,984,000 | 5,492,000 | 5,832,000 | 6,850,000 | |||||||||||||||||||||||||
Real estate – multi-family and residential rental | 1,188,000 | 413,000 | 918,000 | 841,000 | |||||||||||||||||||||||||
Total commercial | 17,822,000 | 10,480,000 | 14,830,000 | 16,706,000 | |||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 580,000 | 483,000 | 482,000 | 603,000 | |||||||||||||||||||||||||
1-4 family mortgages | 1,636,000 | 789,000 | 715,000 | 715,000 | |||||||||||||||||||||||||
Total retail | 2,216,000 | 1,272,000 | 1,197,000 | 1,318,000 | |||||||||||||||||||||||||
Total with no related allowance recorded | $ | 20,038,000 | $ | 11,752,000 | $ | 16,027,000 | $ | 18,024,000 | |||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,221,000 | $ | 1,926,000 | $ | 924,000 | $ | 3,528,000 | $ | 3,406,000 | |||||||||||||||||||
Vacant land, land development and residential construction | 2,333,000 | 2,219,000 | 1,367,000 | 2,981,000 | 3,529,000 | ||||||||||||||||||||||||
Real estate – owner occupied | 4,307,000 | 3,626,000 | 1,388,000 | 4,120,000 | 5,235,000 | ||||||||||||||||||||||||
Real estate – non-owner occupied | 33,818,000 | 32,964,000 | 11,773,000 | 25,220,000 | 23,085,000 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 4,471,000 | 3,923,000 | 1,408,000 | 4,748,000 | 8,306,000 | ||||||||||||||||||||||||
Total commercial | 48,150,000 | 44,658,000 | 16,860,000 | 40,597,000 | 43,561,000 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 423,000 | 394,000 | 204,000 | 291,000 | 259,000 | ||||||||||||||||||||||||
1-4 family mortgages | 555,000 | 475,000 | 125,000 | 503,000 | 484,000 | ||||||||||||||||||||||||
Total retail | 978,000 | 869,000 | 329,000 | 794,000 | 743,000 | ||||||||||||||||||||||||
Total with an allowance recorded | $ | 49,128,000 | $ | 45,527,000 | $ | 17,189,000 | $ | 41,391,000 | $ | 44,304,000 | |||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Commercial | $ | 65,972,000 | $ | 55,138,000 | $ | 16,860,000 | $ | 55,427,000 | $ | 60,267,000 | |||||||||||||||||||
Retail | 3,194,000 | 2,141,000 | 329,000 | 1,991,000 | 2,061,000 | ||||||||||||||||||||||||
Total impaired loans | $ | 69,166,000 | $ | 57,279,000 | $ | 17,189,000 | $ | 57,418,000 | $ | 62,328,000 | |||||||||||||||||||
Interest income of $0.4 million and $1.1 million was recognized on impaired loans during the third quarter and first nine months of 2012, respectively. | |||||||||||||||||||||||||||||
Credit Quality Indicators. We utilize a comprehensive grading system for our commercial loans. All commercial loans are graded on a ten grade rating system. The rating system utilizes standardized grade paradigms that analyze several critical factors such as cash flow, operating performance, financial condition, collateral, industry condition and management. All commercial loans are graded at inception and reviewed and, if appropriate, re-graded at various intervals thereafter. The risk assessment for retail loans is primarily based on the type of collateral and payment activity. | |||||||||||||||||||||||||||||
Loans by credit quality indicators were as follows as of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial credit exposure – credit risk profiled by internal credit risk grades: | |||||||||||||||||||||||||||||
Commercial and | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
Industrial | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Land Development, | Owner Occupied | Non-Owner | Multi-Family | ||||||||||||||||||||||||||
and Residential | Occupied | and Residential | |||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Internal credit risk grade groupings: | |||||||||||||||||||||||||||||
Grades 1 – 4 | $ | 208,750,000 | $ | 8,089,000 | $ | 157,824,000 | $ | 205,586,000 | $ | 31,755,000 | |||||||||||||||||||
Grades 5 – 7 | 75,339,000 | 27,022,000 | 97,819,000 | 130,040,000 | 18,230,000 | ||||||||||||||||||||||||
Grades 8 – 9 | 2,798,000 | 5,630,000 | 3,013,000 | 32,675,000 | 3,193,000 | ||||||||||||||||||||||||
Total commercial | $ | 286,887,000 | $ | 40,741,000 | $ | 258,656,000 | $ | 368,301,000 | $ | 53,178,000 | |||||||||||||||||||
Retail credit exposure – credit risk profiled by collateral type: | |||||||||||||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Total retail | $ | 36,575,000 | $ | 31,149,000 | |||||||||||||||||||||||||
Loans by credit quality indicators were as follows as of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial credit exposure – credit risk profiled by internal credit risk grades: | |||||||||||||||||||||||||||||
Commercial and | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
Industrial | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Land Development, | Owner Occupied | Non-Owner | Multi-Family | ||||||||||||||||||||||||||
and Residential | Occupied | and Residential | |||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Internal credit risk grade groupings: | |||||||||||||||||||||||||||||
Grades 1 – 4 | $ | 180,314,000 | $ | 6,526,000 | $ | 150,467,000 | $ | 154,127,000 | $ | 24,015,000 | |||||||||||||||||||
Grades 5 – 7 | 101,832,000 | 37,697,000 | 102,988,000 | 128,041,000 | 22,082,000 | ||||||||||||||||||||||||
Grades 8 – 9 | 3,176,000 | 3,876,000 | 5,822,000 | 42,718,000 | 4,825,000 | ||||||||||||||||||||||||
Total commercial | $ | 285,322,000 | $ | 48,099,000 | $ | 259,277,000 | $ | 324,886,000 | $ | 50,922,000 | |||||||||||||||||||
Retail credit exposure – credit risk profiled by collateral type: | |||||||||||||||||||||||||||||
Retail Home | Retail 1-4 | ||||||||||||||||||||||||||||
Equity and | Family | ||||||||||||||||||||||||||||
Other | Mortgages | ||||||||||||||||||||||||||||
Total retail | $ | 38,917,000 | $ | 33,766,000 | |||||||||||||||||||||||||
All commercial loans are graded using the following criteria: | |||||||||||||||||||||||||||||
Grade 1. | Excellent credit rating that contain very little, if any, risk of loss. | ||||||||||||||||||||||||||||
Grade 2. | Strong sources of repayment and have low repayment risk. | ||||||||||||||||||||||||||||
Grade 3. | Good sources of repayment and have limited repayment risk. | ||||||||||||||||||||||||||||
Grade 4. | Adequate sources of repayment and acceptable repayment risk; however, characteristics are present that render the credit more vulnerable to a negative event. | ||||||||||||||||||||||||||||
Grade 5. | Marginally acceptable sources of repayment and exhibit defined weaknesses and negative characteristics. | ||||||||||||||||||||||||||||
Grade 6. | Well defined weaknesses which may include negative current cash flow, high leverage, or operating losses. Generally, if the credit does not stabilize or if further deterioration is observed in the near term, the loan will likely be downgraded and placed on the Watch List (i.e., list of lending relationships that receive increased scrutiny and review by the Board of Directors and senior management). | ||||||||||||||||||||||||||||
Grade 7. | Defined weaknesses or negative trends that merit close monitoring through Watch List status. | ||||||||||||||||||||||||||||
Grade 8. | Inadequately protected by current sound net worth, paying capacity of the obligor, or pledged collateral, resulting in a distinct possibility of loss requiring close monitoring through Watch List status. | ||||||||||||||||||||||||||||
Grade 9. | Vital weaknesses exist where collection of principal is highly questionable. | ||||||||||||||||||||||||||||
Grade 10. | Considered uncollectable and of such little value that continuance as an asset is not warranted. | ||||||||||||||||||||||||||||
The primary risk elements with respect to commercial loans are the financial condition of the borrower, the sufficiency of collateral, and timeliness of scheduled payments. We have a policy of requesting and reviewing periodic financial statements from commercial loan customers and employ a disciplined and formalized review of the existence of collateral and its value. The primary risk element with respect to each residential real estate loan and consumer loan is the timeliness of scheduled payments. We have a reporting system that monitors past due loans and have adopted policies to pursue creditor’s rights in order to preserve our collateral position. | |||||||||||||||||||||||||||||
Activity in the allowance for loan losses and the recorded investments in loans as of and during the three and nine months ended September 30, 2013 are as follows: | |||||||||||||||||||||||||||||
Commercial | Retail | Unallocated | Total | ||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2013 | $ | 22,382,000 | $ | 2,559,000 | $ | 6,000 | $ | 24,947,000 | |||||||||||||||||||||
Provision for loan losses | (1,730,000 | ) | (7,000 | ) | 37,000 | (1,700,000 | ) | ||||||||||||||||||||||
Charge-offs | 0 | (85,000 | ) | 0 | (85,000 | ) | |||||||||||||||||||||||
Recoveries | 2,002,000 | 31,000 | 0 | 2,033,000 | |||||||||||||||||||||||||
Ending balance | $ | 22,654,000 | $ | 2,498,000 | $ | 43,000 | $ | 25,195,000 | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 26,043,000 | $ | 2,645,000 | $ | (11,000 | ) | $ | 28,677,000 | ||||||||||||||||||||
Provision for loan losses | (4,375,000 | ) | (379,000 | ) | 54,000 | (4,700,000 | ) | ||||||||||||||||||||||
Charge-offs | (2,774,000 | ) | (107,000 | ) | 0 | (2,881,000 | ) | ||||||||||||||||||||||
Recoveries | 3,760,000 | 339,000 | 0 | 4,099,000 | |||||||||||||||||||||||||
Ending balance | $ | 22,654,000 | $ | 2,498,000 | $ | 43,000 | $ | 25,195,000 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 13,860,000 | $ | 1,203,000 | $ | 0 | $ | 15,063,000 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 8,794,000 | $ | 1,295,000 | $ | 43,000 | $ | 10,132,000 | |||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 1,007,763,000 | $ | 67,724,000 | $ | 1,075,487,000 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 46,426,000 | $ | 3,851,000 | $ | 50,277,000 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 961,337,000 | $ | 63,873,000 | $ | 1,025,210,000 | |||||||||||||||||||||||
Activity in the allowance for loan losses and the recorded investments in loans as of and during the three and nine months ended September 30, 2012 are as follows: | |||||||||||||||||||||||||||||
Commercial | Retail Loans | Unallocated | Total | ||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2012 | $ | 26,471,000 | $ | 3,167,000 | $ | 51,000 | $ | 29,689,000 | |||||||||||||||||||||
Provision for loan losses | (355,000 | ) | (35,000 | ) | (10,000 | ) | (400,000 | ) | |||||||||||||||||||||
Charge-offs | (1,548,000 | ) | (343,000 | ) | 0 | (1,891,000 | ) | ||||||||||||||||||||||
Recoveries | 326,000 | 38,000 | 0 | 364,000 | |||||||||||||||||||||||||
Ending balance | $ | 24,894,000 | $ | 2,827,000 | $ | 41,000 | $ | 27,762,000 | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at December 31, 2011 | $ | 33,431,000 | $ | 3,019,000 | $ | 82,000 | $ | 36,532,000 | |||||||||||||||||||||
Provision for loan losses | (3,480,000 | ) | 121,000 | (41,000 | ) | (3,400,000 | ) | ||||||||||||||||||||||
Charge-offs | (10,662,000 | ) | (513,000 | ) | 0 | (11,175,000 | ) | ||||||||||||||||||||||
Recoveries | 5,605,000 | 200,000 | 0 | 5,805,000 | |||||||||||||||||||||||||
Ending balance | $ | 24,894,000 | $ | 2,827,000 | $ | 41,000 | $ | 27,762,000 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 15,498,000 | $ | 305,000 | $ | 0 | $ | 15,803,000 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,396,000 | $ | 2,522,000 | $ | 41,000 | $ | 11,959,000 | |||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 957,411,000 | $ | 77,877,000 | $ | 1,035,288,000 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 61,378,000 | $ | 1,836,000 | $ | 63,214,000 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 896,033,000 | $ | 76,041,000 | $ | 972,074,000 | |||||||||||||||||||||||
Loans modified as troubled debt restructurings during the three months ended September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 553,000 | $ | 553,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 2 | 171,000 | 171,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2 | 346,000 | 346,000 | ||||||||||||||||||||||||||
Total commercial | 5 | 1,070,000 | 1,070,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 5 | $ | 1,070,000 | $ | 1,070,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the nine months ended September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 613,000 | $ | 613,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 2 | 3,247,000 | 3,247,000 | ||||||||||||||||||||||||||
Real estate – owner occupied | 3 | 909,000 | 909,000 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 4 | 2,239,000 | 2,239,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2 | 346,000 | 346,000 | ||||||||||||||||||||||||||
Total commercial | 13 | 7,354,000 | 7,354,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 1 | 1,879,000 | 1,879,000 | ||||||||||||||||||||||||||
Total retail | 1 | 1,879,000 | 1,879,000 | ||||||||||||||||||||||||||
Total | 14 | $ | 9,233,000 | $ | 9,233,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the three months ended September 30, 2012 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 133,000 | $ | 128,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 5 | 18,042,000 | 18,042,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total commercial | 6 | 18,175,000 | 18,170,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 6 | $ | 18,175,000 | $ | 18,170,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the nine months ended September 30, 2012 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 850,000 | $ | 843,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 5 | 1,588,000 | 1,587,000 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 6 | 22,433,000 | 22,433,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total commercial | 17 | 24,871,000 | 24,863,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 17 | $ | 24,871,000 | $ | 24,863,000 | ||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the three months ended September 30, 2013 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the nine months ended September 30, 2013 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the three months ended September 30, 2012 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the nine months ended September 30, 2012 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the three months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,266,000 | $ | 5,440,000 | $ | 3,580,000 | $ | 34,424,000 | $ | 2,775,000 | |||||||||||||||||||
Charge-Offs | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Payments | (324,000 | ) | (303,000 | ) | (271,000 | ) | (1,690,000 | ) | (295,000 | ) | |||||||||||||||||||
Transfers to ORE | 0 | 0 | 0 | (350,000 | ) | 0 | |||||||||||||||||||||||
Net Additions/Deletions | 466,000 | 0 | (652,000 | ) | 68,000 | 343,000 | |||||||||||||||||||||||
Ending Balance | $ | 2,408,000 | $ | 5,137,000 | $ | 2,657,000 | $ | 32,452,000 | $ | 2,823,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,029,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (16,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 2,013,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,721,000 | $ | 3,071,000 | $ | 4,116,000 | $ | 37,672,000 | $ | 3,026,000 | |||||||||||||||||||
Charge-Offs | (35,000 | ) | (725,000 | ) | (70,000 | ) | (716,000 | ) | (15,000 | ) | |||||||||||||||||||
Payments | (1,902,000 | ) | (456,000 | ) | (1,310,000 | ) | (5,475,000 | ) | (530,000 | ) | |||||||||||||||||||
Transfers to ORE | (74,000 | ) | 0 | (363,000 | ) | (1,153,000 | ) | 0 | |||||||||||||||||||||
Net Additions/Deletions | 1,698,000 | 3,247,000 | 284,000 | 2,124,000 | 342,000 | ||||||||||||||||||||||||
Ending Balance | $ | 2,408,000 | $ | 5,137,000 | $ | 2,657,000 | $ | 32,452,000 | $ | 2,823,000 | |||||||||||||||||||
Retail Home | Retail | ||||||||||||||||||||||||||||
Equity and | 1-4 Family | ||||||||||||||||||||||||||||
Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 155,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (21,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 1,879,000 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 2,013,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the three months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 4,665,000 | $ | 3,250,000 | $ | 6,809,000 | $ | 16,881,000 | $ | 4,985,000 | |||||||||||||||||||
Charge-Offs | (60,000 | ) | 0 | (12,000 | ) | (474,000 | ) | 0 | |||||||||||||||||||||
Payments | (268,000 | ) | (55,000 | ) | (2,750,000 | ) | (178,000 | ) | (263,000 | ) | |||||||||||||||||||
Transfers to ORE | (45,000 | ) | 0 | 0 | (579,000 | ) | 0 | ||||||||||||||||||||||
Net Additions/Deletions | 123,000 | 0 | 105,000 | 18,043,000 | 0 | ||||||||||||||||||||||||
Ending Balance | $ | 4,415,000 | $ | 3,195,000 | $ | 4,152,000 | $ | 33,693,000 | $ | 4,722,000 | |||||||||||||||||||
Retail | Retail 1-4 | ||||||||||||||||||||||||||||
Home Equity | Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 159,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (2,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 157,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the nine months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate - | Real Estate - | Real Estate - | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 4,553,000 | $ | 5,100,000 | $ | 6,183,000 | $ | 12,037,000 | $ | 12,626,000 | |||||||||||||||||||
Charge-Offs | (172,000 | ) | 0 | (426,000 | ) | (499,000 | ) | (2,180,000 | ) | ||||||||||||||||||||
Payments | (763,000 | ) | (1,952,000 | ) | (3,317,000 | ) | (689,000 | ) | (5,914,000 | ) | |||||||||||||||||||
Transfers to ORE | (96,000 | ) | (351,000 | ) | 0 | (579,000 | ) | 0 | |||||||||||||||||||||
Net Additions/Deletions | 893,000 | 398,000 | 1,712,000 | 23,423,000 | 190,000 | ||||||||||||||||||||||||
Ending Balance | $ | 4,415,000 | $ | 3,195,000 | $ | 4,152,000 | $ | 33,693,000 | $ | 4,722,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 164,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (7,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 157,000 | $ | 0 | |||||||||||||||||||||||||
The allowance related to loans categorized as troubled debt restructurings was as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 619,000 | $ | 772,000 | |||||||||||||||||||||||||
Vacant land, land development, and residential construction | 1,208,000 | 713,000 | |||||||||||||||||||||||||||
Real estate – owner occupied | 893,000 | 1,116,000 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 9,639,000 | 9,751,000 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 885,000 | 745,000 | |||||||||||||||||||||||||||
Total commercial | 13,244,000 | 13,097,000 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 920,000 | 0 | |||||||||||||||||||||||||||
Total retail | 920,000 | 0 | |||||||||||||||||||||||||||
Total related allowance | $ | 14,164,000 | $ | 13,097,000 | |||||||||||||||||||||||||
In general, our policy dictates that a renewal or modification of an 8- or 9-rated loan meets the criteria of a troubled debt restructuring, although we review and consider all renewed and modified loans as part of our troubled debt restructuring assessment procedures. Loan relationships rated 8 contain significant financial weaknesses, resulting in a distinct possibility of loss, while relationships rated 9 reflect vital financial weaknesses, resulting in a highly questionable ability on our part to collect principal; we believe borrowers warranting such ratings would have difficulty obtaining financing from other market participants. Thus, due to the lack of comparable market rates for loans with similar risk characteristics, we believe 8- or 9-rated loans renewed or modified were done so at below market rates. Loans that are identified as troubled debt restructurings are considered impaired and are individually evaluated for impairment when assessing these credits in our allowance for loan losses calculation. | |||||||||||||||||||||||||||||
PREMISES_AND_EQUIPMENT_NET
PREMISES AND EQUIPMENT, NET | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
PREMISES AND EQUIPMENT, NET | ' | ||||||||
4 | PREMISES AND EQUIPMENT, NET | ||||||||
Premises and equipment are comprised of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land and improvements | $ | 8,556,000 | $ | 8,556,000 | |||||
Buildings | 24,727,000 | 24,564,000 | |||||||
Furniture and equipment | 12,647,000 | 12,861,000 | |||||||
45,930,000 | 45,981,000 | ||||||||
Less: accumulated depreciation | 20,771,000 | 20,062,000 | |||||||
Premises and equipment, net | $ | 25,159,000 | $ | 25,919,000 | |||||
Depreciation expense totaled $0.3 million during the third quarter of 2013 and 2012. Depreciation expense totaled $1.0 million during the first nine months of 2013, compared to $1.1 million during the first nine months of 2012. |
DEPOSITS
DEPOSITS | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||
DEPOSITS | ' | ||||||||||||||||||||
5 | DEPOSITS | ||||||||||||||||||||
Our total deposits at September 30, 2013 totaled $1.12 billion compared to $1.14 billion at December 31, 2012, a decrease of $13.7 million, or 1.2%. The components of our outstanding balances at September 30, 2013 and December 31, 2012, and percentage change in deposits from the end of 2012 to the end of the third quarter of 2013, are as follows: | |||||||||||||||||||||
September 30, 2013 | December 31, 2012 | Percent | |||||||||||||||||||
Increase | |||||||||||||||||||||
Balance | % | Balance | % | (Decrease) | |||||||||||||||||
Noninterest-bearing demand | $ | 216,055,000 | 19.3 | % | $ | 190,241,000 | 16.8 | % | 13.6 | % | |||||||||||
Interest-bearing checking | 195,964,000 | 17.5 | 188,057,000 | 16.5 | 4.2 | ||||||||||||||||
Money market | 136,363,000 | 12.1 | 144,479,000 | 12.7 | (5.6 | ) | |||||||||||||||
Savings | 52,993,000 | 4.7 | 56,454,000 | 5 | (6.1 | ) | |||||||||||||||
Time, under $100,000 | 45,146,000 | 4 | 51,730,000 | 4.6 | (12.7 | ) | |||||||||||||||
Time, $100,000 and over | 257,651,000 | 23 | 234,430,000 | 20.6 | 9.9 | ||||||||||||||||
904,172,000 | 80.6 | 865,391,000 | 76.2 | 4.5 | |||||||||||||||||
Out-of-area interest-bearing checking | 0 | 0 | 21,967,000 | 1.9 | NM | ||||||||||||||||
Out-of-area time, under $100,000 | 4,672,000 | 0.4 | 7,706,000 | 0.7 | (39.4 | ) | |||||||||||||||
Out-of-area time, $100,000 and over | 212,665,000 | 19 | 240,140,000 | 21.2 | (11.4 | ) | |||||||||||||||
217,337,000 | 19.4 | 269,813,000 | 23.8 | (19.4 | ) | ||||||||||||||||
Total deposits | $ | 1,121,509,000 | 100 | % | $ | 1,135,204,000 | 100 | % | (1.2 | )% | |||||||||||
SECURITIES_SOLD_UNDER_AGREEMEN
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | ' | ||||||||
6 | SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | ||||||||
Securities sold under agreements to repurchase (“repurchase agreements”) are offered principally to certain large deposit customers. Information relating to our repurchase agreements follows: | |||||||||
Nine Months Ended | Twelve Months Ended | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Outstanding balance at end of period | $ | 65,680,000 | $ | 64,765,000 | |||||
Average interest rate at end of period | 0.13 | % | 0.13 | % | |||||
Average daily balance during the period | $ | 64,309,000 | $ | 61,930,000 | |||||
Average interest rate during the period | 0.12 | % | 0.25 | % | |||||
Maximum daily balance during the period | $ | 76,979,000 | $ | 81,980,000 | |||||
Repurchase agreements generally have original maturities of less than one year. Repurchase agreements are treated as financings and the obligations to repurchase securities sold are reflected as liabilities. Securities involved with the agreements are recorded as assets of our bank and are held in safekeeping by a correspondent bank. Repurchase agreements are secured by securities with an aggregate market value equal to the aggregate outstanding balance. |
FEDERAL_HOME_LOAN_BANK_ADVANCE
FEDERAL HOME LOAN BANK ADVANCES | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
FEDERAL HOME LOAN BANK ADVANCES | ' | ||||
7 | FEDERAL HOME LOAN BANK ADVANCES | ||||
Our Federal Home Loan Bank advances totaled $45.0 million at September 30, 2013 and mature at varying dates from March 2017 through September 2017, with fixed rates of interest from 1.22% to 1.51% and averaging 1.34%. At December 31, 2012, our Federal Home Loan Bank advances totaled $35.0 million and mature at varying dates from March 2017 through September 2017, with fixed rates of interest from 1.22% to 1.51% and averaging 1.35%. Each advance is payable at its maturity date, and is subject to a prepayment fee if paid prior to the maturity date. The advances are collateralized by residential mortgage loans, first mortgage liens on multi-family residential property loans, first mortgage liens on commercial real estate property loans, and substantially all other assets of our bank, under a blanket lien arrangement. Our borrowing line of credit as of September 30, 2013 totaled about $150.0 million, with availability approximating $94.0 million. | |||||
Maturities of currently outstanding FHLB advances are as follows: | |||||
2013 | $ | 0 | |||
2014 | 0 | ||||
2015 | 0 | ||||
2016 | 0 | ||||
2017 | 45,000,000 |
COMMITMENTS_AND_OFFBALANCE_SHE
COMMITMENTS AND OFF-BALANCE SHEET RISK | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
COMMITMENTS AND OFF-BALANCE SHEET RISK | ' | ||||||||
8 | COMMITMENTS AND OFF-BALANCE SHEET RISK | ||||||||
Our bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Loan commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Standby letters of credit are conditional commitments issued by our bank to guarantee the performance of a customer to a third party. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. | |||||||||
These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized, if any, in the balance sheet. Our bank’s maximum exposure to loan loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. Our bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on our credit assessment of the borrower. If required, estimated loss exposure resulting from these instruments is expensed and is generally recorded as a liability. There was no reserve or liability balance for these instruments as of September 30, 2013 and December 31, 2012. | |||||||||
A summary of the contractual amounts of our financial instruments with off-balance sheet risk at September 30, 2013 and December 31, 2012 follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Commercial unused lines of credit | $ | 225,732,000 | $ | 222,237,000 | |||||
Unused lines of credit secured by 1 – 4 family residential properties | 23,430,000 | 24,250,000 | |||||||
Credit card unused lines of credit | 8,555,000 | 8,512,000 | |||||||
Other consumer unused lines of credit | 6,379,000 | 4,613,000 | |||||||
Commitments to extend credit | 92,382,000 | 64,565,000 | |||||||
Standby letters of credit | 20,657,000 | 10,591,000 | |||||||
$ | 377,135,000 | $ | 334,768,000 | ||||||
Certain of our commercial loan customers have entered into interest rate swap agreements directly with our correspondent banks. To assist our commercial loan customers in these transactions, and to encourage our correspondent banks to enter into the interest rate swap transactions with minimal credit underwriting analyses on their part, we have entered into risk participation agreements with the correspondent banks whereby we agree to make payments to the correspondent banks owed by our commercial loan customers under the interest rate swap agreement in the event that our commercial loan customers do not make the payments. We are not a party to the interest rate swap agreements under these arrangements. As of September 30, 2013, the total notional amount of the underlying interest rate swap agreements was $18.1 million, with a net fair value from our commercial loan customers’ perspective of negative $2.7 million. These risk participation agreements are considered financial guarantees in accordance with applicable accounting guidance and are therefore recorded as liabilities at fair value, generally equal to the fees collected at the time of their execution. These liabilities are accreted into income during the term of the interest rate swap agreements, generally ranging from four to fifteen years. |
HEDGING_ACTIVITIES
HEDGING ACTIVITIES | 9 Months Ended | |
Sep. 30, 2013 | ||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | |
HEDGING ACTIVITIES | ' | |
9 | HEDGING ACTIVITIES | |
Our interest rate risk policy includes guidelines for measuring and monitoring interest rate risk. Within these guidelines, parameters have been established for maximum fluctuations in net interest income. Possible fluctuations are measured and monitored using net interest income simulation. Our policy provides for the use of certain derivative instruments and hedging activities to aid in managing interest rate risk to within the policy parameters. To help mitigate the negative impact to our net interest income in an increasing interest rate environment resulting from our cost of funds likely increasing at a higher rate than the yield on our assets, we may periodically enter into derivative financial instruments. | ||
In June 2011, we simultaneously purchased and sold an interest rate cap with a correspondent bank, a structure commonly referred to as a “cap corridor.” The cap corridor, which does not qualify for hedge accounting, consisted of us purchasing a $100 million interest rate cap with a strike rate in close proximity to the then-current 30-Day Libor rate and selling a $100 million interest rate cap with a strike rate that is 125 basis points higher than the purchased interest rate cap strike rate. On the settlement date, the present value of the purchased interest rate cap was recorded as an asset, while the present value of the sold interest rate cap was recorded as a liability. At each month end, the recorded balances of the purchased and sold interest rate caps are adjusted to reflect the current present values, with the offsetting entry being recorded to interest income on commercial loans. We recorded a nominal decrease during the first nine months of 2013 to interest income on commercial loans to reflect the net change in present values. Payments made or received under the purchased and sold interest rate cap contracts, if any, are also recorded to interest income on commercial loans. No such payments were made or received during the first nine months of 2013. The cap corridor matured in June 2013. | ||
In February 2012, we entered into an interest rate swap agreement with a correspondent bank to hedge the floating rate on our subordinated debentures. Our $32.0 million of subordinated debentures have a rate equal to the 90-Day Libor Rate plus a fixed spread of 218 basis points, and are subject to repricing quarterly. The interest rate swap agreement provides for us to pay our correspondent bank a fixed rate, while our correspondent bank will pay us the 90-Day Libor Rate on a $32.0 million notional amount. The quarterly re-set dates for the floating rate on the interest rate swap agreement are the same as the re-set dates for the floating rate on the subordinated debentures. While the trade date of the interest rate swap agreement was in February 2012, the effective date was in January 2013, with a maturity date of January 2018. The interest rate swap agreement does qualify for hedge accounting; therefore, monthly fluctuations in the present value of the interest rate swap agreement, net of tax effect, are recorded to other comprehensive income. As of September 30, 2013 and December 31, 2012, the present value of the interest rate swap agreement was recorded as a liability in the amount of $0.4 million and $1.1 million, respectively. |
FAIR_VALUES_OF_FINANCIAL_INSTR
FAIR VALUES OF FINANCIAL INSTRUMENTS | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
FAIR VALUES OF FINANCIAL INSTRUMENTS | ' | ||||||||||||||||||||
10 | FAIR VALUES OF FINANCIAL INSTRUMENTS | ||||||||||||||||||||
The carrying amounts, estimated fair values and level within the fair value hierarchy of financial instruments were as follows as of September 30, 2013 and December 31, 2012 (dollars in thousands): | |||||||||||||||||||||
Level in | September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Fair Value | Carrying | Fair | Carrying | Fair | |||||||||||||||||
Hierarchy | Values | Values | Values | Values | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash | Level 1 | $ | 1,995 | $ | 1,995 | $ | 1,576 | $ | 1,576 | ||||||||||||
Cash equivalents | Level 2 | 123,923 | 123,923 | 134,427 | 134,427 | ||||||||||||||||
Securities available for sale | (1) | 123,793 | 123,793 | 138,314 | 138,314 | ||||||||||||||||
FHLB stock | (2) | 11,961 | 11,961 | 11,961 | 11,961 | ||||||||||||||||
Loans, net | Level 3 | 1,050,292 | 1,047,313 | 1,012,512 | 1,004,541 | ||||||||||||||||
Bank owned life insurance | Level 2 | 51,073 | 51,073 | 50,048 | 50,048 | ||||||||||||||||
Accrued interest receivable | Level 2 | 3,777 | 3,777 | 3,874 | 3,874 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | Level 2 | 1,121,509 | 1,123,304 | 1,135,204 | 1,135,614 | ||||||||||||||||
Repurchase agreements | Level 2 | 65,680 | 65,680 | 64,765 | 64,765 | ||||||||||||||||
FHLB advances | Level 2 | 45,000 | 45,139 | 35,000 | 35,000 | ||||||||||||||||
Subordinated debentures | Level 2 | 32,990 | 32,974 | 32,990 | 32,943 | ||||||||||||||||
Accrued interest payable | Level 2 | 1,643 | 1,643 | 2,314 | 2,314 | ||||||||||||||||
Interest rate swap | (1) | 394 | 394 | 1,113 | 1,113 | ||||||||||||||||
-1 | See Note 11 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. | ||||||||||||||||||||
-2 | It is not practical to determine the fair value of FHLB stock due to transferability restrictions. | ||||||||||||||||||||
Carrying amount is the estimated fair value for cash and cash equivalents, accrued interest receivable and payable, bank owned life insurance, demand deposits, repurchase agreements, and variable rate loans and deposits that reprice frequently and fully. For fixed rate loans and deposits and for variable rate loans and deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. Fair value of subordinated debentures and Federal Home Loan Bank advances is based on current rates for similar financing. Fair value of the interest rate swap is determined primarily utilizing market-consensus forecasted yield curves. Fair value of off-balance sheet items is estimated to be nominal. |
FAIR_VALUES
FAIR VALUES | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
FAIR VALUES | ' | ||||||||||||||||
11 | FAIR VALUES | ||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The price of the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. | |||||||||||||||||
We are required to use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from independent sources, or unobservable, meaning those that reflect our own assumptions about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. In that regard, we utilize a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | |||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that we have the ability to access as of the measurement date. | |||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be derived from or corroborated by observable market data by correlation or other means. | |||||||||||||||||
Level 3: Significant unobservable inputs that reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||
The following is a description of our valuation methodologies used to measure and disclose the fair values of our financial assets and liabilities that are recorded at fair value on a recurring or nonrecurring basis: | |||||||||||||||||
Securities available for sale. Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based on quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models. Level 2 securities include U.S. Government agency bonds, mortgage-backed securities issued or guaranteed by U.S. Government agencies, municipal general obligation and revenue bonds, Michigan Strategic Fund bonds and mutual funds. We have no Level 1 or 3 securities. | |||||||||||||||||
Derivatives. The interest rate swap is measured at fair value on a recurring basis. We measure fair value utilizing models that use primarily market observable inputs, such as forecasted yield curves, and accordingly, the interest rate swap agreement is classified as Level 2. | |||||||||||||||||
Mortgage loans held for sale. Mortgage loans held for sale are carried at the lower of aggregate cost or fair value measured on a nonrecurring basis. Fair value is based on independent quoted market prices, where applicable, or the prices for other mortgage whole loans with similar characteristics. As of September 30, 2013 and December 31, 2012, we determined that the fair value of our mortgage loans held for sale approximated the recorded cost of $1.4 million and $3.5 million, respectively. | |||||||||||||||||
Loans. We do not record loans at fair value on a recurring basis. However, from time to time, we record nonrecurring fair value adjustments to collateral dependent loans to reflect partial write-downs or specific reserves that are based on the observable market price or current estimated value of the collateral. These loans are reported in the nonrecurring table below at initial recognition of impairment and on an ongoing basis until recovery or charge-off. | |||||||||||||||||
Foreclosed Assets. At time of foreclosure or repossession, foreclosed and repossessed assets are adjusted to fair value less costs to sell upon transfer of the loans to foreclosed and repossessed assets, establishing a new cost basis. We subsequently adjust estimated fair value of foreclosed assets on a nonrecurring basis to reflect write-downs based on revised fair value estimates. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Available for sale securities | |||||||||||||||||
U.S. Government agency debt obligations | $ | 89,294,000 | $ | 0 | $ | 89,294,000 | $ | 0 | |||||||||
Mortgage-backed securities | 14,511,000 | 0 | 14,511,000 | 0 | |||||||||||||
Municipal general obligation bonds | 17,706,000 | 0 | 17,706,000 | 0 | |||||||||||||
Municipal revenue bonds | 917,000 | 0 | 917,000 | 0 | |||||||||||||
Mutual funds | 1,365,000 | 0 | 1,365,000 | 0 | |||||||||||||
Derivatives | |||||||||||||||||
Interest rate swap agreement | (394,000 | ) | 0 | (394,000 | ) | 0 | |||||||||||
Total | $ | 123,399,000 | $ | 0 | $ | 123,399,000 | $ | 0 | |||||||||
There were no transfers in or out of Level 1, Level 2 or Level 3 during the first nine months of 2013. | |||||||||||||||||
The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Available for sale securities | |||||||||||||||||
U.S. Government agency debt obligations | $ | 79,098,000 | $ | 0 | $ | 79,098,000 | $ | 0 | |||||||||
Mortgage-backed securities | 21,996,000 | 0 | 21,996,000 | 0 | |||||||||||||
Michigan Strategic Fund bonds | 11,255,000 | 0 | 11,255,000 | 0 | |||||||||||||
Municipal general obligation bonds | 22,743,000 | 0 | 22,743,000 | 0 | |||||||||||||
Municipal revenue bonds | 1,817,000 | 0 | 1,817,000 | 0 | |||||||||||||
Mutual funds | 1,405,000 | 0 | 1,405,000 | 0 | |||||||||||||
Derivatives | |||||||||||||||||
Interest rate swap agreement | (1,113,000 | ) | 0 | (1,113,000 | ) | 0 | |||||||||||
Total | $ | 137,201,000 | $ | 0 | $ | 137,201,000 | $ | 0 | |||||||||
There were no transfers in or out of Level 1, Level 2 or Level 3 during 2012. | |||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
The balances of assets measured at fair value on a nonrecurring basis as of September 30, 2013 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans (1) | $ | 31,205,000 | $ | 0 | $ | 0 | $ | 31,205,000 | |||||||||
Foreclosed assets (1) | 3,549,000 | 0 | 0 | 3,549,000 | |||||||||||||
Total | $ | 34,754,000 | $ | 0 | $ | 0 | $ | 34,754,000 | |||||||||
The balances of assets measured at fair value on a nonrecurring basis as of December 31, 2012 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans (1) | $ | 34,406,000 | $ | 0 | $ | 0 | $ | 34,406,000 | |||||||||
Foreclosed assets (1) | 6,970,000 | 0 | 0 | 6,970,000 | |||||||||||||
Total | $ | 41,376,000 | $ | 0 | $ | 0 | $ | 41,376,000 | |||||||||
-1 | Represents carrying value and related write-downs for which adjustments are based on the estimated value of the property or other assets. |
REGULATORY_MATTERS
REGULATORY MATTERS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
REGULATORY MATTERS | ' | ||||||||||||||||||||||||
12 | REGULATORY MATTERS | ||||||||||||||||||||||||
We are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on our financial statements. | |||||||||||||||||||||||||
The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If an institution is not well capitalized, regulatory approval is required to accept brokered deposits. Subject to limited exceptions, no institution may make a capital distribution if, after making the distribution, it would be undercapitalized. If an institution is undercapitalized, it is subject to close monitoring by its principal federal regulator, its asset growth and expansion are restricted, and plans for capital restoration are required. In addition, further specific types of restrictions may be imposed on the institution at the discretion of the federal regulator. At September 30, 2013 and December 31, 2012, our bank was in the well capitalized category under the regulatory framework for prompt corrective action. There are no conditions or events since September 30, 2013 that we believe have changed our bank’s categorization. | |||||||||||||||||||||||||
Our actual capital levels (dollars in thousands) and the minimum levels required to be categorized as adequately and well capitalized were: | |||||||||||||||||||||||||
Actual | Minimum Required | Minimum Required | |||||||||||||||||||||||
for Capital | to be Well | ||||||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Regulations | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 186,699 | 15.3 | % | $ | 97,366 | 8 | % | $ | NA | NA | ||||||||||||||
Bank | 186,020 | 15.3 | 97,317 | 8 | 121,646 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 171,362 | 14.1 | 48,683 | 4 | NA | NA | |||||||||||||||||||
Bank | 170,691 | 14 | 48,659 | 4 | 73,025 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 171,362 | 12.6 | 54,537 | 4 | NA | NA | |||||||||||||||||||
Bank | 170,691 | 12.5 | 54,510 | 4 | 68,171 | 5 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 173,323 | 14.6 | % | $ | 94,738 | 8 | % | $ | NA | NA | ||||||||||||||
Bank | 173,828 | 14.7 | 94,629 | 8 | 118,286 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 158,349 | 13.4 | 47,369 | 4 | NA | NA | |||||||||||||||||||
Bank | 158,871 | 13.4 | 47,315 | 4 | 70,972 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 158,349 | 11.3 | 55,995 | 4 | NA | NA | |||||||||||||||||||
Bank | 158,871 | 11.4 | 55,937 | 4 | 69,922 | 5 | |||||||||||||||||||
Our consolidated capital levels as of September 30, 2013 and December 31, 2012 include $32.0 million of trust preferred securities issued by the trust in September 2004 and December 2004 subject to certain limitations. Under applicable Federal Reserve guidelines, the trust preferred securities constitute a restricted core capital element. The guidelines provide that the aggregate amount of restricted core elements that may be included in our Tier 1 capital must not exceed 25% of the sum of all core capital elements, including restricted core capital elements, net of goodwill less any associated deferred tax liability. Our ability to include the trust preferred securities in Tier 1 capital in accordance with the guidelines is not affected by the provision of the Dodd-Frank Act generally restricting such treatment, because (i) the trust preferred securities were issued before May 19, 2010, and (ii) our total consolidated assets as of December 31, 2009 were less than $15.0 billion. As of September 30, 2013 and December 31, 2012, all $32.0 million of the trust preferred securities were included in our consolidated Tier 1 capital. | |||||||||||||||||||||||||
Our and our bank’s ability to pay cash and stock dividends is subject to limitations under various laws and regulations and to prudent and sound banking practices. On October 11, 2012, our Board of Directors declared a cash dividend on our common stock in the amount of $0.09 per share that was paid on December 10, 2012 to shareholders of record as of November 9, 2012. This represented our first common stock cash dividend since the first quarter of 2010, as in April 2010 we had suspended payments of cash dividends on our common stock. On January 10, 2013, our Board of Directors declared a cash dividend on our common stock in the amount of $0.10 per share that was paid on March 8, 2013 to shareholders of record as of February 8, 2013. On April 11, 2013, our Board of Directors declared a cash dividend on our common stock in the amount of $0.11 per share that was paid on June 10, 2013 to shareholders of record as of May 10, 2013. On July 11, 2013, our Board of Directors declared a cash dividend on our common stock in the amount of $0.12 per share that was paid on September 10, 2013 to shareholders of record as of August 9, 2013. On October 10, 2013, our Board of Directors declared a cash dividend on our common stock in the amount of $0.12 per share that will be paid on December 10, 2013 to shareholders of record as of November 8, 2013. |
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation: The unaudited financial statements for the three and nine months ended September 30, 2013 include the consolidated results of operations of Mercantile Bank Corporation and its consolidated subsidiaries. These subsidiaries include Mercantile Bank of Michigan (“our bank”) and our bank’s two subsidiaries, Mercantile Bank Real Estate Co., LLC (“our real estate company”) and Mercantile Insurance Center, Inc. (“our insurance center”). These consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and Item 303(b) of Regulation S-K and do not include all disclosures required by accounting principles generally accepted in the United States of America for a complete presentation of our financial condition and results of operations. In the opinion of management, the information reflects all adjustments (consisting only of normal recurring adjustments) which are necessary in order to make the financial statements not misleading and for a fair presentation of the results of operations for such periods. The results for the period ended September 30, 2013 should not be considered as indicative of results for a full year. For further information, refer to the consolidated financial statements and footnotes included in our annual report on Form 10-K for the year ended December 31, 2012. | |
We formed a business trust, Mercantile Bank Capital Trust I (“the trust”), in 2004 to issue trust preferred securities. We issued subordinated debentures to the trust in return for the proceeds raised from the issuance of the trust preferred securities. The trust is not consolidated, but instead we report the subordinated debentures issued to the trust as a liability | |
Earnings Per Share | ' |
Earnings Per Share: Basic earnings per share is based on the weighted average number of common shares and participating securities outstanding during the period. Diluted earnings per share include the dilutive effect of additional potential common shares issuable under our stock-based compensation plans and our common stock warrant granted to the U.S. Department of Treasury that we repurchased on July 3, 2012, and are determined using the treasury stock method. Our unvested restricted shares, which contain non-forfeitable rights to dividends whether paid or accrued (i.e., participating securities), are included in the number of shares outstanding for both basic and diluted earnings per share calculations. In the event of a net loss, our unvested restricted shares are excluded from the calculation of both basic and diluted earnings per share. | |
Approximately 64,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and nine months ended September 30, 2013. In addition, stock options for approximately 54,000 shares of common stock were included in determining diluted earnings per share for the three and nine months ended September 30, 2013. Stock options for approximately 94,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and nine months ended September 30, 2013. | |
Approximately 38,000 unvested restricted shares were included in determining both basic and diluted earnings per share for the three and nine months ended September 30, 2012. In addition, stock options for approximately 26,000 and 21,000 shares of common stock were included in determining diluted earnings per share for the three and nine months ended September 30, 2012, respectively. Also, our stock warrant for approximately 616,000 shares of common stock was included in determining diluted earnings per share for the three and nine months ended September 30, 2012 taking into account our full repurchase of said stock warrant on July 3, 2012. Stock options for approximately 137,000 and 142,000 shares of common stock were antidilutive and not included in determining diluted earnings per share for the three and nine months ended September, 30, 2012, respectively. | |
Loans | ' |
Loans: Loans that we have the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs and an allowance for loan losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. | |
Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. | |
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses: The allowance for loan losses (“allowance”) is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when we believe the uncollectability of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. We estimate the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in our judgment, should be charged-off. | |
A loan is considered to be impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. | |
Troubled Debt Restructurings | ' |
Troubled Debt Restructurings: A loan is accounted for as a troubled debt restructuring if we, for economic or legal reasons, grant a concession to a borrower considered to be experiencing financial difficulties that we would not otherwise consider. A troubled debt restructuring may involve the receipt of assets from the debtor in partial or full satisfaction of the loan, or a modification of terms such as a reduction of the stated interest rate or balance of the loan, a reduction of accrued interest, an extension of the maturity date or renewal of the loan at a stated interest rate lower than the current market rate for a new loan with similar risk, or some combination of these concessions. Troubled debt restructurings can be in either accrual or nonaccrual status. Nonaccrual troubled debt restructurings are included in nonperforming loans. Accruing troubled debt restructurings are generally excluded from nonperforming loans as it is considered probable that all contractual principal and interest due under the restructured terms will be collected. | |
In accordance with current accounting guidance, loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described above under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance in the same manner as other defaulted loans. | |
Derivatives | ' |
Derivatives: Derivative financial instruments are recognized as assets or liabilities at fair value. The accounting for changes in the fair value of derivatives depends on the use of the derivatives and whether the derivatives qualify for hedge accounting. Used as part of our asset and liability management to help manage interest rate risk, our derivatives have historically consisted of interest rate swap agreements that qualified for hedge accounting. In February 2012, we entered into an interest rate swap agreement that qualifies for hedge accounting. However, in June 2011, we simultaneously purchased and sold an interest rate cap, a structure commonly referred to as a “cap corridor”, which does not qualify for hedge accounting. The current outstanding interest rate swap and cap corridor are discussed in more detail in Note 9. We do not use derivatives for trading purposes. | |
Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various loans and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. | |
If designated as a hedge, we formally document the relationship between derivatives as hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivative as a hedge is no longer appropriate or intended. | |
Adoption of New Accounting Standards | ' |
Adoption of New Accounting Standards: In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which is intended to improve the reporting of reclassifications out of accumulated other comprehensive income. The ASU requires an entity to report, either on the face of the income statement or in the notes to the financial statements, the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the income statement. We adopted this ASU in the first quarter of 2013. |
SECURITIES_Tables
SECURITIES (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized cost and fair value of available for sale securities and related pre-tax gross unrealized gains and losses | ' | ||||||||||||||||||||||||
The amortized cost and fair value of available for sale securities and the related pre-tax gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 97,460,000 | $ | 376,000 | $ | (8,542,000 | ) | $ | 89,294,000 | ||||||||||||||||
Mortgage-backed securities | 13,382,000 | 1,129,000 | 0 | 14,511,000 | |||||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Municipal general obligation bonds | 17,275,000 | 432,000 | (1,000 | ) | 17,706,000 | ||||||||||||||||||||
Municipal revenue bonds | 877,000 | 40,000 | 0 | 917,000 | |||||||||||||||||||||
Mutual funds | 1,376,000 | 0 | (11,000 | ) | 1,365,000 | ||||||||||||||||||||
$ | 130,370,000 | $ | 1,977,000 | $ | (8,554,000 | ) | $ | 123,793,000 | |||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 78,447,000 | $ | 1,039,000 | $ | (388,000 | ) | $ | 79,098,000 | ||||||||||||||||
Mortgage-backed securities | 20,182,000 | 1,814,000 | 0 | 21,996,000 | |||||||||||||||||||||
Michigan Strategic Fund bonds | 11,255,000 | 0 | 0 | 11,255,000 | |||||||||||||||||||||
Municipal general obligation bonds | 21,700,000 | 1,043,000 | 0 | 22,743,000 | |||||||||||||||||||||
Municipal revenue bonds | 1,726,000 | 91,000 | 0 | 1,817,000 | |||||||||||||||||||||
Mutual funds | 1,354,000 | 51,000 | 0 | 1,405,000 | |||||||||||||||||||||
$ | 134,664,000 | $ | 4,038,000 | $ | (388,000 | ) | $ | 138,314,000 | |||||||||||||||||
Securities with unrealized losses aggregated by investment category and length of time | ' | ||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 70,142,000 | $ | (7,691,000 | ) | $ | 6,134,000 | $ | (851,000 | ) | $ | 76,276,000 | $ | (8,542,000 | ) | ||||||||||
Mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal general obligation bonds | 394,000 | (1,000 | ) | 0 | 0 | 394,000 | (1,000 | ) | |||||||||||||||||
Municipal revenue bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Mutual funds | 1,365,000 | (11,000 | ) | 0 | 0 | 1,365,000 | (11,000 | ) | |||||||||||||||||
$ | 71,901,000 | $ | (7,703,000 | ) | $ | 6,134,000 | $ | (851,000 | ) | $ | 78,035,000 | $ | (8,554,000 | ) | |||||||||||
December 31, 2012 | |||||||||||||||||||||||||
U.S. Government agency debt obligations | $ | 33,555,000 | $ | (388,000 | ) | $ | 0 | $ | 0 | $ | 33,555,000 | $ | (388,000 | ) | |||||||||||
Mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Michigan Strategic Fund bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal general obligation bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Municipal revenue bonds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Mutual funds | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
$ | 33,555,000 | $ | (388,000 | ) | $ | 0 | $ | 0 | $ | 33,555,000 | $ | (388,000 | ) | ||||||||||||
Maturities of securities and their weighted average yields | ' | ||||||||||||||||||||||||
Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Weighted average yields are also reflected, with yields for municipal securities shown at their tax equivalent yield. | |||||||||||||||||||||||||
Weighted | Amortized | Fair | |||||||||||||||||||||||
Average | Cost | Value | |||||||||||||||||||||||
Yield | |||||||||||||||||||||||||
Due in 2013 | 6.94 | % | $ | 355,000 | $ | 355,000 | |||||||||||||||||||
Due in 2014 through 2018 | 4.99 | 4,651,000 | 4,751,000 | ||||||||||||||||||||||
Due in 2019 through 2023 | 3.17 | 31,126,000 | 29,918,000 | ||||||||||||||||||||||
Due in 2024 and beyond | 3.64 | 79,480,000 | 72,893,000 | ||||||||||||||||||||||
Mortgage-backed securities | 5.19 | 13,382,000 | 14,511,000 | ||||||||||||||||||||||
Mutual funds | 2.09 | 1,376,000 | 1,365,000 | ||||||||||||||||||||||
3.74 | % | $ | 130,370,000 | $ | 123,793,000 | ||||||||||||||||||||
LOANS_AND_ALLOWANCE_FOR_LOAN_L1
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Components of Loan Portfolio Disaggregated by Class of Loan and Percentage Change in Total Loans | ' | ||||||||||||||||||||||||||||
The components of our loan portfolio disaggregated by class of loan within the loan portfolio segments at September 30, 2013 and December 31, 2012, and the percentage change in loans from the end of 2012 to the end of the third quarter of 2013, are as follows: | |||||||||||||||||||||||||||||
Percent | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | Increase | |||||||||||||||||||||||||||
Balance | % | Balance | % | (Decrease) | |||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 286,887,000 | 26.7 | % | $ | 285,322,000 | 27.4 | % | 0.5 | % | |||||||||||||||||||
Vacant land, land development, and residential construction | 40,741,000 | 3.8 | 48,099,000 | 4.6 | (15.3 | ) | |||||||||||||||||||||||
Real estate – owner occupied | 258,656,000 | 24.1 | 259,277,000 | 24.9 | (0.2 | ) | |||||||||||||||||||||||
Real estate – non-owner occupied | 368,301,000 | 34.2 | 324,886,000 | 31.2 | 13.4 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 53,178,000 | 4.9 | 50,922,000 | 4.9 | 4.4 | ||||||||||||||||||||||||
Total commercial | 1,007,763,000 | 93.7 | 968,506,000 | 93 | 4.1 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 36,575,000 | 3.4 | 38,917,000 | 3.7 | (6.0 | ) | |||||||||||||||||||||||
1-4 family mortgages | 31,149,000 | 2.9 | 33,766,000 | 3.3 | (7.8 | ) | |||||||||||||||||||||||
Total retail | 67,724,000 | 6.3 | 72,683,000 | 7 | (6.8 | ) | |||||||||||||||||||||||
Total loans | $ | 1,075,487,000 | 100 | % | $ | 1,041,189,000 | 100 | % | 3.3 | % | |||||||||||||||||||
Nonperforming Loans | ' | ||||||||||||||||||||||||||||
Nonperforming loans as of September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Loans past due 90 days or more still accruing interest | $ | 0 | $ | 0 | |||||||||||||||||||||||||
Nonaccrual loans | 10,526,000 | 18,970,000 | |||||||||||||||||||||||||||
Total nonperforming loans | $ | 10,526,000 | $ | 18,970,000 | |||||||||||||||||||||||||
Recorded Principal Balance of Nonaccrual Loans | ' | ||||||||||||||||||||||||||||
The recorded principal balance of nonaccrual loans was as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,581,000 | $ | 1,677,000 | |||||||||||||||||||||||||
Vacant land, land development, and residential construction | 922,000 | 2,194,000 | |||||||||||||||||||||||||||
Real estate – owner occupied | 570,000 | 2,087,000 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 4,642,000 | 9,010,000 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 764,000 | 2,021,000 | |||||||||||||||||||||||||||
Total commercial | 8,479,000 | 16,989,000 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 805,000 | 889,000 | |||||||||||||||||||||||||||
1-4 family mortgages | 1,242,000 | 1,092,000 | |||||||||||||||||||||||||||
Total retail | 2,047,000 | 1,981,000 | |||||||||||||||||||||||||||
Total nonaccrual loans | $ | 10,526,000 | $ | 18,970,000 | |||||||||||||||||||||||||
Age Analysis of Past Due Loans | ' | ||||||||||||||||||||||||||||
An age analysis of past due loans is as follows as of September 30, 2013: | |||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than 89 | Past Due | Loans | Balance > 89 | ||||||||||||||||||||||||
Past Due | Past Due | Days | Days and | ||||||||||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 22,000 | $ | 0 | $ | 631,000 | $ | 653,000 | $ | 286,234,000 | $ | 286,887,000 | $ | 0 | |||||||||||||||
Vacant land, land development, and residential construction | 0 | 0 | 85,000 | 85,000 | 40,656,000 | 40,741,000 | 0 | ||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 53,000 | 53,000 | 258,603,000 | 258,656,000 | 0 | ||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | 1,860,000 | 1,860,000 | 366,441,000 | 368,301,000 | 0 | ||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 264,000 | 264,000 | 52,914,000 | 53,178,000 | 0 | ||||||||||||||||||||||
Total commercial | 22,000 | 0 | 2,893,000 | 2,915,000 | 1,004,848,000 | 1,007,763,000 | 0 | ||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | 0 | 36,575,000 | 36,575,000 | 0 | ||||||||||||||||||||||
1-4 family mortgages | 25,000 | 0 | 463,000 | 488,000 | 30,661,000 | 31,149,000 | 0 | ||||||||||||||||||||||
Total retail | 25,000 | 0 | 463,000 | 488,000 | 67,236,000 | 67,724,000 | 0 | ||||||||||||||||||||||
Total past due loans | $ | 47,000 | $ | 0 | $ | 3,356,000 | $ | 3,403,000 | $ | 1,072,084,000 | $ | 1,075,487,000 | $ | 0 | |||||||||||||||
An age analysis of past due loans is as follows as of December 31, 2012: | |||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | Greater | Total | Current | Total | Recorded | |||||||||||||||||||||||
Days | Days | Than 89 | Past Due | Loans | Balance > 89 | ||||||||||||||||||||||||
Past Due | Past Due | Days | Days and | ||||||||||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 80,000 | $ | 0 | $ | 871,000 | $ | 951,000 | $ | 284,371,000 | $ | 285,322,000 | $ | 0 | |||||||||||||||
Vacant land, land development, and residential construction | 289,000 | 0 | 614,000 | 903,000 | 47,196,000 | 48,099,000 | 0 | ||||||||||||||||||||||
Real estate – owner occupied | 199,000 | 0 | 1,337,000 | 1,536,000 | 257,741,000 | 259,277,000 | 0 | ||||||||||||||||||||||
Real estate – non-owner occupied | 303,000 | 0 | 1,123,000 | 1,426,000 | 323,460,000 | 324,886,000 | 0 | ||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 613,000 | 613,000 | 50,309,000 | 50,922,000 | 0 | ||||||||||||||||||||||
Total commercial | 871,000 | 0 | 4,558,000 | 5,429,000 | 963,077,000 | 968,506,000 | 0 | ||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 1,000 | 0 | 13,000 | 14,000 | 38,903,000 | 38,917,000 | 0 | ||||||||||||||||||||||
1-4 family mortgages | 47,000 | 190,000 | 437,000 | 674,000 | 33,092,000 | 33,766,000 | 0 | ||||||||||||||||||||||
Total retail | 48,000 | 190,000 | 450,000 | 688,000 | 71,995,000 | 72,683,000 | 0 | ||||||||||||||||||||||
Total past due loans | $ | 919,000 | $ | 190,000 | $ | 5,008,000 | $ | 6,117,000 | $ | 1,035,072,000 | $ | 1,041,189,000 | $ | 0 | |||||||||||||||
Impaired Loans | ' | ||||||||||||||||||||||||||||
Impaired loans as of September 30, 2013, and average impaired loans for the three and nine months ended September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,632,000 | $ | 1,063,000 | $ | 1,170,000 | $ | 1,378,000 | |||||||||||||||||||||
Vacant land, land development and residential construction | 1,200,000 | 804,000 | 907,000 | 1,148,000 | |||||||||||||||||||||||||
Real estate – owner occupied | 575,000 | 347,000 | 865,000 | 1,159,000 | |||||||||||||||||||||||||
Real estate – non-owner occupied | 5,135,000 | 4,108,000 | 4,651,000 | 4,878,000 | |||||||||||||||||||||||||
Real estate – multi-family and residential rental | 1,008,000 | 337,000 | 425,000 | 487,000 | |||||||||||||||||||||||||
Total commercial | 10,550,000 | 6,659,000 | 8,018,000 | 9,050,000 | |||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 508,000 | 464,000 | 466,000 | 474,000 | |||||||||||||||||||||||||
1-4 family mortgages | 1,398,000 | 754,000 | 715,000 | 746,000 | |||||||||||||||||||||||||
Total retail | 1,906,000 | 1,218,000 | 1,181,000 | 1,220,000 | |||||||||||||||||||||||||
Total with no related allowance recorded | $ | 12,456,000 | $ | 7,877,000 | $ | 9,199,000 | $ | 10,270,000 | |||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,002,000 | $ | 1,941,000 | $ | 1,035,000 | $ | 1,764,000 | $ | 1,990,000 | |||||||||||||||||||
Vacant land, land development and residential construction | 4,557,000 | 4,418,000 | 1,216,000 | 4,466,000 | 3,158,000 | ||||||||||||||||||||||||
Real estate – owner occupied | 2,368,000 | 2,310,000 | 901,000 | 2,330,000 | 2,810,000 | ||||||||||||||||||||||||
Real estate – non-owner occupied | 28,358,000 | 28,346,000 | 9,785,000 | 28,789,000 | 30,216,000 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2,820,000 | 2,752,000 | 923,000 | 2,639,000 | 2,973,000 | ||||||||||||||||||||||||
Total commercial | 40,105,000 | 39,767,000 | 13,860,000 | 39,988,000 | 41,147,000 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 322,000 | 293,000 | 102,000 | 309,000 | 339,000 | ||||||||||||||||||||||||
1-4 family mortgages | 2,370,000 | 2,340,000 | 1,101,000 | 2,480,000 | 1,477,000 | ||||||||||||||||||||||||
Total retail | 2,692,000 | 2,633,000 | 1,203,000 | 2,789,000 | 1,816,000 | ||||||||||||||||||||||||
Total with an allowance recorded | $ | 42,797,000 | $ | 42,400,000 | $ | 15,063,000 | $ | 42,777,000 | $ | 42,963,000 | |||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Commercial | $ | 50,655,000 | $ | 46,426,000 | $ | 13,860,000 | $ | 48,006,000 | $ | 50,197,000 | |||||||||||||||||||
Retail | 4,598,000 | 3,851,000 | 1,203,000 | 3,970,000 | 3,036,000 | ||||||||||||||||||||||||
Total impaired loans | $ | 55,253,000 | $ | 50,277,000 | $ | 15,063,000 | $ | 51,976,000 | $ | 53,233,000 | |||||||||||||||||||
Impaired loans as of December 31, 2012, and average impaired loans for the three and nine months ended September 30, 2012, were as follows: | |||||||||||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,926,000 | $ | 1,617,000 | $ | 3,209,000 | $ | 3,521,000 | |||||||||||||||||||||
Vacant land, land development and residential construction | 2,356,000 | 1,401,000 | 1,480,000 | 1,959,000 | |||||||||||||||||||||||||
Real estate – owner occupied | 2,368,000 | 1,557,000 | 3,391,000 | 3,535,000 | |||||||||||||||||||||||||
Real estate – non-owner occupied | 9,984,000 | 5,492,000 | 5,832,000 | 6,850,000 | |||||||||||||||||||||||||
Real estate – multi-family and residential rental | 1,188,000 | 413,000 | 918,000 | 841,000 | |||||||||||||||||||||||||
Total commercial | 17,822,000 | 10,480,000 | 14,830,000 | 16,706,000 | |||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 580,000 | 483,000 | 482,000 | 603,000 | |||||||||||||||||||||||||
1-4 family mortgages | 1,636,000 | 789,000 | 715,000 | 715,000 | |||||||||||||||||||||||||
Total retail | 2,216,000 | 1,272,000 | 1,197,000 | 1,318,000 | |||||||||||||||||||||||||
Total with no related allowance recorded | $ | 20,038,000 | $ | 11,752,000 | $ | 16,027,000 | $ | 18,024,000 | |||||||||||||||||||||
Unpaid | Recorded | Related | Third Quarter | Year-To-Date | |||||||||||||||||||||||||
Contractual | Principal | Allowance | Average | Average | |||||||||||||||||||||||||
Principal | Balance | Recorded | Recorded | ||||||||||||||||||||||||||
Balance | Principal | Principal | |||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,221,000 | $ | 1,926,000 | $ | 924,000 | $ | 3,528,000 | $ | 3,406,000 | |||||||||||||||||||
Vacant land, land development and residential construction | 2,333,000 | 2,219,000 | 1,367,000 | 2,981,000 | 3,529,000 | ||||||||||||||||||||||||
Real estate – owner occupied | 4,307,000 | 3,626,000 | 1,388,000 | 4,120,000 | 5,235,000 | ||||||||||||||||||||||||
Real estate – non-owner occupied | 33,818,000 | 32,964,000 | 11,773,000 | 25,220,000 | 23,085,000 | ||||||||||||||||||||||||
Real estate – multi-family and residential rental | 4,471,000 | 3,923,000 | 1,408,000 | 4,748,000 | 8,306,000 | ||||||||||||||||||||||||
Total commercial | 48,150,000 | 44,658,000 | 16,860,000 | 40,597,000 | 43,561,000 | ||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 423,000 | 394,000 | 204,000 | 291,000 | 259,000 | ||||||||||||||||||||||||
1-4 family mortgages | 555,000 | 475,000 | 125,000 | 503,000 | 484,000 | ||||||||||||||||||||||||
Total retail | 978,000 | 869,000 | 329,000 | 794,000 | 743,000 | ||||||||||||||||||||||||
Total with an allowance recorded | $ | 49,128,000 | $ | 45,527,000 | $ | 17,189,000 | $ | 41,391,000 | $ | 44,304,000 | |||||||||||||||||||
Total impaired loans: | |||||||||||||||||||||||||||||
Commercial | $ | 65,972,000 | $ | 55,138,000 | $ | 16,860,000 | $ | 55,427,000 | $ | 60,267,000 | |||||||||||||||||||
Retail | 3,194,000 | 2,141,000 | 329,000 | 1,991,000 | 2,061,000 | ||||||||||||||||||||||||
Total impaired loans | $ | 69,166,000 | $ | 57,279,000 | $ | 17,189,000 | $ | 57,418,000 | $ | 62,328,000 | |||||||||||||||||||
Loans by Credit Quality Indicators | ' | ||||||||||||||||||||||||||||
Loans by credit quality indicators were as follows as of September 30, 2013: | |||||||||||||||||||||||||||||
Commercial credit exposure – credit risk profiled by internal credit risk grades: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Internal credit risk grade groupings: | |||||||||||||||||||||||||||||
Grades 1 – 4 | $ | 208,750,000 | $ | 8,089,000 | $ | 157,824,000 | $ | 205,586,000 | $ | 31,755,000 | |||||||||||||||||||
Grades 5 – 7 | 75,339,000 | 27,022,000 | 97,819,000 | 130,040,000 | 18,230,000 | ||||||||||||||||||||||||
Grades 8 – 9 | 2,798,000 | 5,630,000 | 3,013,000 | 32,675,000 | 3,193,000 | ||||||||||||||||||||||||
Total commercial | $ | 286,887,000 | $ | 40,741,000 | $ | 258,656,000 | $ | 368,301,000 | $ | 53,178,000 | |||||||||||||||||||
Retail credit exposure – credit risk profiled by collateral type: | |||||||||||||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Total retail | $ | 36,575,000 | $ | 31,149,000 | |||||||||||||||||||||||||
Loans by credit quality indicators were as follows as of December 31, 2012: | |||||||||||||||||||||||||||||
Commercial credit exposure – credit risk profiled by internal credit risk grades: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Internal credit risk grade groupings: | |||||||||||||||||||||||||||||
Grades 1 – 4 | $ | 180,314,000 | $ | 6,526,000 | $ | 150,467,000 | $ | 154,127,000 | $ | 24,015,000 | |||||||||||||||||||
Grades 5 – 7 | 101,832,000 | 37,697,000 | 102,988,000 | 128,041,000 | 22,082,000 | ||||||||||||||||||||||||
Grades 8 – 9 | 3,176,000 | 3,876,000 | 5,822,000 | 42,718,000 | 4,825,000 | ||||||||||||||||||||||||
Total commercial | $ | 285,322,000 | $ | 48,099,000 | $ | 259,277,000 | $ | 324,886,000 | $ | 50,922,000 | |||||||||||||||||||
Retail credit exposure – credit risk profiled by collateral type: | |||||||||||||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Total retail | $ | 38,917,000 | $ | 33,766,000 | |||||||||||||||||||||||||
Activity in Allowance for Loan Losses and the Recorded Investments in Loans | ' | ||||||||||||||||||||||||||||
Activity in the allowance for loan losses and the recorded investments in loans as of and during the three and nine months ended September 30, 2013 are as follows: | |||||||||||||||||||||||||||||
Commercial | Retail | Unallocated | Total | ||||||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2013 | $ | 22,382,000 | $ | 2,559,000 | $ | 6,000 | $ | 24,947,000 | |||||||||||||||||||||
Provision for loan losses | (1,730,000 | ) | (7,000 | ) | 37,000 | (1,700,000 | ) | ||||||||||||||||||||||
Charge-offs | 0 | (85,000 | ) | 0 | (85,000 | ) | |||||||||||||||||||||||
Recoveries | 2,002,000 | 31,000 | 0 | 2,033,000 | |||||||||||||||||||||||||
Ending balance | $ | 22,654,000 | $ | 2,498,000 | $ | 43,000 | $ | 25,195,000 | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at December 31, 2012 | $ | 26,043,000 | $ | 2,645,000 | $ | (11,000 | ) | $ | 28,677,000 | ||||||||||||||||||||
Provision for loan losses | (4,375,000 | ) | (379,000 | ) | 54,000 | (4,700,000 | ) | ||||||||||||||||||||||
Charge-offs | (2,774,000 | ) | (107,000 | ) | 0 | (2,881,000 | ) | ||||||||||||||||||||||
Recoveries | 3,760,000 | 339,000 | 0 | 4,099,000 | |||||||||||||||||||||||||
Ending balance | $ | 22,654,000 | $ | 2,498,000 | $ | 43,000 | $ | 25,195,000 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 13,860,000 | $ | 1,203,000 | $ | 0 | $ | 15,063,000 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 8,794,000 | $ | 1,295,000 | $ | 43,000 | $ | 10,132,000 | |||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 1,007,763,000 | $ | 67,724,000 | $ | 1,075,487,000 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 46,426,000 | $ | 3,851,000 | $ | 50,277,000 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 961,337,000 | $ | 63,873,000 | $ | 1,025,210,000 | |||||||||||||||||||||||
Activity in the allowance for loan losses and the recorded investments in loans as of and during the three and nine months ended September 30, 2012 are as follows: | |||||||||||||||||||||||||||||
Commercial | Retail Loans | Unallocated | Total | ||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2012 | $ | 26,471,000 | $ | 3,167,000 | $ | 51,000 | $ | 29,689,000 | |||||||||||||||||||||
Provision for loan losses | (355,000 | ) | (35,000 | ) | (10,000 | ) | (400,000 | ) | |||||||||||||||||||||
Charge-offs | (1,548,000 | ) | (343,000 | ) | 0 | (1,891,000 | ) | ||||||||||||||||||||||
Recoveries | 326,000 | 38,000 | 0 | 364,000 | |||||||||||||||||||||||||
Ending balance | $ | 24,894,000 | $ | 2,827,000 | $ | 41,000 | $ | 27,762,000 | |||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at December 31, 2011 | $ | 33,431,000 | $ | 3,019,000 | $ | 82,000 | $ | 36,532,000 | |||||||||||||||||||||
Provision for loan losses | (3,480,000 | ) | 121,000 | (41,000 | ) | (3,400,000 | ) | ||||||||||||||||||||||
Charge-offs | (10,662,000 | ) | (513,000 | ) | 0 | (11,175,000 | ) | ||||||||||||||||||||||
Recoveries | 5,605,000 | 200,000 | 0 | 5,805,000 | |||||||||||||||||||||||||
Ending balance | $ | 24,894,000 | $ | 2,827,000 | $ | 41,000 | $ | 27,762,000 | |||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 15,498,000 | $ | 305,000 | $ | 0 | $ | 15,803,000 | |||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 9,396,000 | $ | 2,522,000 | $ | 41,000 | $ | 11,959,000 | |||||||||||||||||||||
Total loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 957,411,000 | $ | 77,877,000 | $ | 1,035,288,000 | |||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 61,378,000 | $ | 1,836,000 | $ | 63,214,000 | |||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 896,033,000 | $ | 76,041,000 | $ | 972,074,000 | |||||||||||||||||||||||
Loans Modified as Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the three months ended September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 553,000 | $ | 553,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 2 | 171,000 | 171,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2 | 346,000 | 346,000 | ||||||||||||||||||||||||||
Total commercial | 5 | 1,070,000 | 1,070,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 5 | $ | 1,070,000 | $ | 1,070,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the nine months ended September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 613,000 | $ | 613,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 2 | 3,247,000 | 3,247,000 | ||||||||||||||||||||||||||
Real estate – owner occupied | 3 | 909,000 | 909,000 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 4 | 2,239,000 | 2,239,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 2 | 346,000 | 346,000 | ||||||||||||||||||||||||||
Total commercial | 13 | 7,354,000 | 7,354,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 1 | 1,879,000 | 1,879,000 | ||||||||||||||||||||||||||
Total retail | 1 | 1,879,000 | 1,879,000 | ||||||||||||||||||||||||||
Total | 14 | $ | 9,233,000 | $ | 9,233,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the three months ended September 30, 2012 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 133,000 | $ | 128,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 5 | 18,042,000 | 18,042,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total commercial | 6 | 18,175,000 | 18,170,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 6 | $ | 18,175,000 | $ | 18,170,000 | ||||||||||||||||||||||||
Loans modified as troubled debt restructurings during the nine months ended September 30, 2012 were as follows: | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Principal | Principal | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 850,000 | $ | 843,000 | ||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | 0 | ||||||||||||||||||||||||||
Real estate – owner occupied | 5 | 1,588,000 | 1,587,000 | ||||||||||||||||||||||||||
Real estate – non-owner occupied | 6 | 22,433,000 | 22,433,000 | ||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total commercial | 17 | 24,871,000 | 24,863,000 | ||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | 0 | ||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total retail | 0 | 0 | 0 | ||||||||||||||||||||||||||
Total | 17 | $ | 24,871,000 | $ | 24,863,000 | ||||||||||||||||||||||||
Loans, Modified as Troubled Debt Restructurings within Previous Twelve Months, that Became Over 30 Days Past Due | ' | ||||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the three months ended September 30, 2013 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the nine months ended September 30, 2013 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the three months ended September 30, 2012 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
The following loans, modified as troubled debt restructurings within the previous twelve months, became over 30 days past due within the nine months ended September 30, 2012 (amounts as of period end): | |||||||||||||||||||||||||||||
Number of | Recorded | ||||||||||||||||||||||||||||
Contracts | Principal | ||||||||||||||||||||||||||||
Balance | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | 0 | $ | 0 | ||||||||||||||||||||||||||
Vacant land, land development and residential construction | 0 | 0 | |||||||||||||||||||||||||||
Real estate – owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 0 | 0 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 0 | 0 | |||||||||||||||||||||||||||
Total commercial | 0 | 0 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 0 | 0 | |||||||||||||||||||||||||||
Total retail | 0 | 0 | |||||||||||||||||||||||||||
Total | 0 | $ | 0 | ||||||||||||||||||||||||||
Activity for Loans Categorized as Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the three months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,266,000 | $ | 5,440,000 | $ | 3,580,000 | $ | 34,424,000 | $ | 2,775,000 | |||||||||||||||||||
Charge-Offs | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Payments | (324,000 | ) | (303,000 | ) | (271,000 | ) | (1,690,000 | ) | (295,000 | ) | |||||||||||||||||||
Transfers to ORE | 0 | 0 | 0 | (350,000 | ) | 0 | |||||||||||||||||||||||
Net Additions/Deletions | 466,000 | 0 | (652,000 | ) | 68,000 | 343,000 | |||||||||||||||||||||||
Ending Balance | $ | 2,408,000 | $ | 5,137,000 | $ | 2,657,000 | $ | 32,452,000 | $ | 2,823,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,029,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (16,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 2,013,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the nine months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 2,721,000 | $ | 3,071,000 | $ | 4,116,000 | $ | 37,672,000 | $ | 3,026,000 | |||||||||||||||||||
Charge-Offs | (35,000 | ) | (725,000 | ) | (70,000 | ) | (716,000 | ) | (15,000 | ) | |||||||||||||||||||
Payments | (1,902,000 | ) | (456,000 | ) | (1,310,000 | ) | (5,475,000 | ) | (530,000 | ) | |||||||||||||||||||
Transfers to ORE | (74,000 | ) | 0 | (363,000 | ) | (1,153,000 | ) | 0 | |||||||||||||||||||||
Net Additions/Deletions | 1,698,000 | 3,247,000 | 284,000 | 2,124,000 | 342,000 | ||||||||||||||||||||||||
Ending Balance | $ | 2,408,000 | $ | 5,137,000 | $ | 2,657,000 | $ | 32,452,000 | $ | 2,823,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 155,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (21,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 1,879,000 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 2,013,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the three months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 4,665,000 | $ | 3,250,000 | $ | 6,809,000 | $ | 16,881,000 | $ | 4,985,000 | |||||||||||||||||||
Charge-Offs | (60,000 | ) | 0 | (12,000 | ) | (474,000 | ) | 0 | |||||||||||||||||||||
Payments | (268,000 | ) | (55,000 | ) | (2,750,000 | ) | (178,000 | ) | (263,000 | ) | |||||||||||||||||||
Transfers to ORE | (45,000 | ) | 0 | 0 | (579,000 | ) | 0 | ||||||||||||||||||||||
Net Additions/Deletions | 123,000 | 0 | 105,000 | 18,043,000 | 0 | ||||||||||||||||||||||||
Ending Balance | $ | 4,415,000 | $ | 3,195,000 | $ | 4,152,000 | $ | 33,693,000 | $ | 4,722,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 159,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (2,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 157,000 | $ | 0 | |||||||||||||||||||||||||
Activity for loans categorized as troubled debt restructurings during the nine months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||
Commercial | Commercial | Commercial | Commercial | Commercial | |||||||||||||||||||||||||
and | Vacant Land, | Real Estate – | Real Estate – | Real Estate – | |||||||||||||||||||||||||
Industrial | Land Development, | Owner | Non-Owner | Multi-Family | |||||||||||||||||||||||||
and Residential | Occupied | Occupied | and Residential | ||||||||||||||||||||||||||
Construction | Rental | ||||||||||||||||||||||||||||
Commercial Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 4,553,000 | $ | 5,100,000 | $ | 6,183,000 | $ | 12,037,000 | $ | 12,626,000 | |||||||||||||||||||
Charge-Offs | (172,000 | ) | 0 | (426,000 | ) | (499,000 | ) | (2,180,000 | ) | ||||||||||||||||||||
Payments | (763,000 | ) | (1,952,000 | ) | (3,317,000 | ) | (689,000 | ) | (5,914,000 | ) | |||||||||||||||||||
Transfers to ORE | (96,000 | ) | (351,000 | ) | 0 | (579,000 | ) | 0 | |||||||||||||||||||||
Net Additions/Deletions | 893,000 | 398,000 | 1,712,000 | 23,423,000 | 190,000 | ||||||||||||||||||||||||
Ending Balance | $ | 4,415,000 | $ | 3,195,000 | $ | 4,152,000 | $ | 33,693,000 | $ | 4,722,000 | |||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||||||||
Home Equity | 1-4 Family | ||||||||||||||||||||||||||||
and Other | Mortgages | ||||||||||||||||||||||||||||
Retail Loan Portfolio: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 164,000 | $ | 0 | |||||||||||||||||||||||||
Charge-Offs | 0 | 0 | |||||||||||||||||||||||||||
Payments | (7,000 | ) | 0 | ||||||||||||||||||||||||||
Transfers to ORE | 0 | 0 | |||||||||||||||||||||||||||
Net Additions/Deletions | 0 | 0 | |||||||||||||||||||||||||||
Ending Balance | $ | 157,000 | $ | 0 | |||||||||||||||||||||||||
Allowance Related to Loans Categorized as Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
The allowance related to loans categorized as troubled debt restructurings was as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 619,000 | $ | 772,000 | |||||||||||||||||||||||||
Vacant land, land development, and residential construction | 1,208,000 | 713,000 | |||||||||||||||||||||||||||
Real estate – owner occupied | 893,000 | 1,116,000 | |||||||||||||||||||||||||||
Real estate – non-owner occupied | 9,639,000 | 9,751,000 | |||||||||||||||||||||||||||
Real estate – multi-family and residential rental | 885,000 | 745,000 | |||||||||||||||||||||||||||
Total commercial | 13,244,000 | 13,097,000 | |||||||||||||||||||||||||||
Retail: | |||||||||||||||||||||||||||||
Home equity and other | 0 | 0 | |||||||||||||||||||||||||||
1-4 family mortgages | 920,000 | 0 | |||||||||||||||||||||||||||
Total retail | 920,000 | 0 | |||||||||||||||||||||||||||
Total related allowance | $ | 14,164,000 | $ | 13,097,000 | |||||||||||||||||||||||||
PREMISES_AND_EQUIPMENT_NET_Tab
PREMISES AND EQUIPMENT, NET (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Premises and Equipment | ' | ||||||||
Premises and equipment are comprised of the following: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Land and improvements | $ | 8,556,000 | $ | 8,556,000 | |||||
Buildings | 24,727,000 | 24,564,000 | |||||||
Furniture and equipment | 12,647,000 | 12,861,000 | |||||||
45,930,000 | 45,981,000 | ||||||||
Less: accumulated depreciation | 20,771,000 | 20,062,000 | |||||||
Premises and equipment, net | $ | 25,159,000 | $ | 25,919,000 | |||||
DEPOSITS_Tables
DEPOSITS (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||
Components of Outstanding Balances and Percentage Change in Deposits | ' | ||||||||||||||||||||
The components of our outstanding balances at September 30, 2013 and December 31, 2012, and percentage change in deposits from the end of 2012 to the end of the third quarter of 2013, are as follows: | |||||||||||||||||||||
September 30, 2013 | December 31, 2012 | Percent | |||||||||||||||||||
Increase | |||||||||||||||||||||
Balance | % | Balance | % | (Decrease) | |||||||||||||||||
Noninterest-bearing demand | $ | 216,055,000 | 19.3 | % | $ | 190,241,000 | 16.8 | % | 13.6 | % | |||||||||||
Interest-bearing checking | 195,964,000 | 17.5 | 188,057,000 | 16.5 | 4.2 | ||||||||||||||||
Money market | 136,363,000 | 12.1 | 144,479,000 | 12.7 | (5.6 | ) | |||||||||||||||
Savings | 52,993,000 | 4.7 | 56,454,000 | 5 | (6.1 | ) | |||||||||||||||
Time, under $100,000 | 45,146,000 | 4 | 51,730,000 | 4.6 | (12.7 | ) | |||||||||||||||
Time, $100,000 and over | 257,651,000 | 23 | 234,430,000 | 20.6 | 9.9 | ||||||||||||||||
904,172,000 | 80.6 | 865,391,000 | 76.2 | 4.5 | |||||||||||||||||
Out-of-area interest-bearing checking | 0 | 0 | 21,967,000 | 1.9 | NM | ||||||||||||||||
Out-of-area time, under $100,000 | 4,672,000 | 0.4 | 7,706,000 | 0.7 | (39.4 | ) | |||||||||||||||
Out-of-area time, $100,000 and over | 212,665,000 | 19 | 240,140,000 | 21.2 | (11.4 | ) | |||||||||||||||
217,337,000 | 19.4 | 269,813,000 | 23.8 | (19.4 | ) | ||||||||||||||||
Total deposits | $ | 1,121,509,000 | 100 | % | $ | 1,135,204,000 | 100 | % | (1.2 | )% | |||||||||||
SECURITIES_SOLD_UNDER_AGREEMEN1
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Securities Sold Under Agreements to Repurchase | ' | ||||||||
Securities sold under agreements to repurchase (“repurchase agreements”) are offered principally to certain large deposit customers. Information relating to our repurchase agreements follows: | |||||||||
Nine Months Ended | Twelve Months Ended | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Outstanding balance at end of period | $ | 65,680,000 | $ | 64,765,000 | |||||
Average interest rate at end of period | 0.13 | % | 0.13 | % | |||||
Average daily balance during the period | $ | 64,309,000 | $ | 61,930,000 | |||||
Average interest rate during the period | 0.12 | % | 0.25 | % | |||||
Maximum daily balance during the period | $ | 76,979,000 | $ | 81,980,000 |
FEDERAL_HOME_LOAN_BANK_ADVANCE1
FEDERAL HOME LOAN BANK ADVANCES (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Banking And Thrift [Abstract] | ' | ||||
Maturities of Currently Outstanding FHLB Advances | ' | ||||
Maturities of currently outstanding FHLB advances are as follows: | |||||
2013 | $ | 0 | |||
2014 | 0 | ||||
2015 | 0 | ||||
2016 | 0 | ||||
2017 | 45,000,000 |
COMMITMENTS_AND_OFFBALANCE_SHE1
COMMITMENTS AND OFF-BALANCE SHEET RISK (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||
Summary of Contractual Amounts of Financial Instruments with Off-balance Sheet Risk | ' | ||||||||
A summary of the contractual amounts of our financial instruments with off-balance sheet risk at September 30, 2013 and December 31, 2012 follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
Commercial unused lines of credit | $ | 225,732,000 | $ | 222,237,000 | |||||
Unused lines of credit secured by 1 – 4 family residential properties | 23,430,000 | 24,250,000 | |||||||
Credit card unused lines of credit | 8,555,000 | 8,512,000 | |||||||
Other consumer unused lines of credit | 6,379,000 | 4,613,000 | |||||||
Commitments to extend credit | 92,382,000 | 64,565,000 | |||||||
Standby letters of credit | 20,657,000 | 10,591,000 | |||||||
$ | 377,135,000 | $ | 334,768,000 | ||||||
FAIR_VALUES_OF_FINANCIAL_INSTR1
FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Carrying Amount, Estimated Fair Value and Level Within Fair Value Hierarchy of Financial Instruments | ' | ||||||||||||||||||||
The carrying amounts, estimated fair values and level within the fair value hierarchy of financial instruments were as follows as of September 30, 2013 and December 31, 2012 (dollars in thousands): | |||||||||||||||||||||
Level in | September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Fair Value | Carrying | Fair | Carrying | Fair | |||||||||||||||||
Hierarchy | Values | Values | Values | Values | |||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash | Level 1 | $ | 1,995 | $ | 1,995 | $ | 1,576 | $ | 1,576 | ||||||||||||
Cash equivalents | Level 2 | 123,923 | 123,923 | 134,427 | 134,427 | ||||||||||||||||
Securities available for sale | (1) | 123,793 | 123,793 | 138,314 | 138,314 | ||||||||||||||||
FHLB stock | (2) | 11,961 | 11,961 | 11,961 | 11,961 | ||||||||||||||||
Loans, net | Level 3 | 1,050,292 | 1,047,313 | 1,012,512 | 1,004,541 | ||||||||||||||||
Bank owned life insurance | Level 2 | 51,073 | 51,073 | 50,048 | 50,048 | ||||||||||||||||
Accrued interest receivable | Level 2 | 3,777 | 3,777 | 3,874 | 3,874 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | Level 2 | 1,121,509 | 1,123,304 | 1,135,204 | 1,135,614 | ||||||||||||||||
Repurchase agreements | Level 2 | 65,680 | 65,680 | 64,765 | 64,765 | ||||||||||||||||
FHLB advances | Level 2 | 45,000 | 45,139 | 35,000 | 35,000 | ||||||||||||||||
Subordinated debentures | Level 2 | 32,990 | 32,974 | 32,990 | 32,943 | ||||||||||||||||
Accrued interest payable | Level 2 | 1,643 | 1,643 | 2,314 | 2,314 | ||||||||||||||||
Interest rate swap | (1) | 394 | 394 | 1,113 | 1,113 | ||||||||||||||||
-1 | See Note 11 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. | ||||||||||||||||||||
-2 | It is not practical to determine the fair value of FHLB stock due to transferability restrictions. |
FAIR_VALUES_Tables
FAIR VALUES (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
The balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Available for sale securities | |||||||||||||||||
U.S. Government agency debt obligations | $ | 89,294,000 | $ | 0 | $ | 89,294,000 | $ | 0 | |||||||||
Mortgage-backed securities | 14,511,000 | 0 | 14,511,000 | 0 | |||||||||||||
Municipal general obligation bonds | 17,706,000 | 0 | 17,706,000 | 0 | |||||||||||||
Municipal revenue bonds | 917,000 | 0 | 917,000 | 0 | |||||||||||||
Mutual funds | 1,365,000 | 0 | 1,365,000 | 0 | |||||||||||||
Derivatives | |||||||||||||||||
Interest rate swap agreement | (394,000 | ) | 0 | (394,000 | ) | 0 | |||||||||||
Total | $ | 123,399,000 | $ | 0 | $ | 123,399,000 | $ | 0 | |||||||||
The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Available for sale securities | |||||||||||||||||
U.S. Government agency debt obligations | $ | 79,098,000 | $ | 0 | $ | 79,098,000 | $ | 0 | |||||||||
Mortgage-backed securities | 21,996,000 | 0 | 21,996,000 | 0 | |||||||||||||
Michigan Strategic Fund bonds | 11,255,000 | 0 | 11,255,000 | 0 | |||||||||||||
Municipal general obligation bonds | 22,743,000 | 0 | 22,743,000 | 0 | |||||||||||||
Municipal revenue bonds | 1,817,000 | 0 | 1,817,000 | 0 | |||||||||||||
Mutual funds | 1,405,000 | 0 | 1,405,000 | 0 | |||||||||||||
Derivatives | |||||||||||||||||
Interest rate swap agreement | (1,113,000 | ) | 0 | (1,113,000 | ) | 0 | |||||||||||
Total | $ | 137,201,000 | $ | 0 | $ | 137,201,000 | $ | 0 | |||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ' | ||||||||||||||||
The balances of assets measured at fair value on a nonrecurring basis as of September 30, 2013 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans (1) | $ | 31,205,000 | $ | 0 | $ | 0 | $ | 31,205,000 | |||||||||
Foreclosed assets (1) | 3,549,000 | 0 | 0 | 3,549,000 | |||||||||||||
Total | $ | 34,754,000 | $ | 0 | $ | 0 | $ | 34,754,000 | |||||||||
The balances of assets measured at fair value on a nonrecurring basis as of December 31, 2012 are as follows: | |||||||||||||||||
Total | Quoted | Significant | Significant | ||||||||||||||
Prices in | Other | Unobservable | |||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans (1) | $ | 34,406,000 | $ | 0 | $ | 0 | $ | 34,406,000 | |||||||||
Foreclosed assets (1) | 6,970,000 | 0 | 0 | 6,970,000 | |||||||||||||
Total | $ | 41,376,000 | $ | 0 | $ | 0 | $ | 41,376,000 | |||||||||
-1 | Represents carrying value and related write-downs for which adjustments are based on the estimated value of the property or other assets. |
REGULATORY_MATTERS_Tables
REGULATORY MATTERS (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Summary of Actual Capital Levels and Minimum Levels | ' | ||||||||||||||||||||||||
Our actual capital levels (dollars in thousands) and the minimum levels required to be categorized as adequately and well capitalized were: | |||||||||||||||||||||||||
Actual | Minimum Required | Minimum Required | |||||||||||||||||||||||
for Capital | to be Well | ||||||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Regulations | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 186,699 | 15.3 | % | $ | 97,366 | 8 | % | $ | NA | NA | ||||||||||||||
Bank | 186,020 | 15.3 | 97,317 | 8 | 121,646 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 171,362 | 14.1 | 48,683 | 4 | NA | NA | |||||||||||||||||||
Bank | 170,691 | 14 | 48,659 | 4 | 73,025 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 171,362 | 12.6 | 54,537 | 4 | NA | NA | |||||||||||||||||||
Bank | 170,691 | 12.5 | 54,510 | 4 | 68,171 | 5 | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 173,323 | 14.6 | % | $ | 94,738 | 8 | % | $ | NA | NA | ||||||||||||||
Bank | 173,828 | 14.7 | 94,629 | 8 | 118,286 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 158,349 | 13.4 | 47,369 | 4 | NA | NA | |||||||||||||||||||
Bank | 158,871 | 13.4 | 47,315 | 4 | 70,972 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 158,349 | 11.3 | 55,995 | 4 | NA | NA | |||||||||||||||||||
Bank | 158,871 | 11.4 | 55,937 | 4 | 69,922 | 5 |
Recovered_Sheet1
Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Number of days past due when interest income on commercial and mortgage loans is discontinued | ' | ' | '90 days | ' |
Maximum number of days past due when consumer and credit card loans are typically charged off | ' | ' | '120 days | ' |
Restricted shares [Member] | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Unvested restricted shares included in determining basic and diluted earnings per share | 64,000 | 38,000 | 64,000 | 38,000 |
Stock options [Member] | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock options included in determining diluted earnings per share | 54,000 | 26,000 | 54,000 | 21,000 |
Stock options antidilutive and not included in determining diluted earnings per share | 94,000 | 137,000 | 94,000 | 142,000 |
Stock warrant [Member] | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' |
Stock warrant included in determining diluted earnings per share | ' | 616,000 | ' | 616,000 |
Securities_Amortized_cost_and_
Securities - Amortized cost and fair value of available for sale securities and related pre-tax gross unrealized gains and losses (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $130,370,000 | $134,664,000 |
Gross Unrealized Gains | 1,977,000 | 4,038,000 |
Gross Unrealized Losses | -8,554,000 | -388,000 |
Fair Value | 123,793,000 | 138,314,000 |
U.S. Government agency debt obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 97,460,000 | 78,447,000 |
Gross Unrealized Gains | 376,000 | 1,039,000 |
Gross Unrealized Losses | -8,542,000 | -388,000 |
Fair Value | 89,294,000 | 79,098,000 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 13,382,000 | 20,182,000 |
Gross Unrealized Gains | 1,129,000 | 1,814,000 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 14,511,000 | 21,996,000 |
Michigan Strategic Fund bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 0 | 11,255,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 0 | 11,255,000 |
Municipal general obligation bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 17,275,000 | 21,700,000 |
Gross Unrealized Gains | 432,000 | 1,043,000 |
Gross Unrealized Losses | -1,000 | 0 |
Fair Value | 17,706,000 | 22,743,000 |
Municipal revenue bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 877,000 | 1,726,000 |
Gross Unrealized Gains | 40,000 | 91,000 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 917,000 | 1,817,000 |
Mutual funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,376,000 | 1,354,000 |
Gross Unrealized Gains | 0 | 51,000 |
Gross Unrealized Losses | -11,000 | 0 |
Fair Value | $1,365,000 | $1,405,000 |
Securities_Securities_with_unr
Securities - Securities with unrealized losses aggregated by investment category and length of time (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | $71,901,000 | $33,555,000 |
Unrealized Loss, Less than 12 Months | -7,703,000 | -388,000 |
Fair Value, 12 Months or More | 6,134,000 | 0 |
Unrealized Loss, 12 Months or More | -851,000 | 0 |
Fair Value | 78,035,000 | 33,555,000 |
Unrealized Loss | -8,554,000 | -388,000 |
U.S. Government agency debt obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 70,142,000 | 33,555,000 |
Unrealized Loss, Less than 12 Months | -7,691,000 | -388,000 |
Fair Value, 12 Months or More | 6,134,000 | 0 |
Unrealized Loss, 12 Months or More | -851,000 | 0 |
Fair Value | 76,276,000 | 33,555,000 |
Unrealized Loss | -8,542,000 | -388,000 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 0 | 0 |
Unrealized Loss, Less than 12 Months | 0 | 0 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Loss | 0 | 0 |
Michigan Strategic Fund bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 0 | 0 |
Unrealized Loss, Less than 12 Months | 0 | 0 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Loss | 0 | 0 |
Municipal general obligation bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 394,000 | 0 |
Unrealized Loss, Less than 12 Months | -1,000 | 0 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value | 394,000 | 0 |
Unrealized Loss | -1,000 | 0 |
Municipal revenue bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 0 | 0 |
Unrealized Loss, Less than 12 Months | 0 | 0 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value | 0 | 0 |
Unrealized Loss | 0 | 0 |
Mutual funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 1,365,000 | 0 |
Unrealized Loss, Less than 12 Months | -11,000 | 0 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value | 1,365,000 | 0 |
Unrealized Loss | ($11,000) | $0 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Funds | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of mutual funds with unrealized losses | 1 | ' |
Fair value of debt securities with unrealized losses | $78,035,000 | $33,555,000 |
Aggregate depreciation of securities with unrealized losses | -8,554,000 | -388,000 |
Available for sale securities/Fair Value | 123,793,000 | 138,314,000 |
Total securities of specific issuer, other than U.S. Government and its agencies, maximum percentage of stockholders' equity | 10.00% | ' |
Debt securities[Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Number of debt securities with unrealized losses | 59 | ' |
State of Michigan and all its political subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost of securities | 18,200,000 | 23,400,000 |
Available for sale securities/Fair Value | 18,600,000 | 24,600,000 |
U.S. Government agency debt obligations and mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Carrying value of securities pledged to secure repurchase agreements | $85,200,000 | $83,800,000 |
Securities_Maturities_of_secur
Securities - Maturities of securities and their weighted average yields (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 3.74% | ' |
Amortized Cost | $130,370,000 | $134,664,000 |
Available for sale securities/Fair Value | 123,793,000 | 138,314,000 |
Due in 2013 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 6.94% | ' |
Amortized Cost | 355,000 | ' |
Available for sale securities/Fair Value | 355,000 | ' |
Due in 2014 through 2018 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 4.99% | ' |
Amortized Cost | 4,651,000 | ' |
Available for sale securities/Fair Value | 4,751,000 | ' |
Due in 2019 through 2023 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 3.17% | ' |
Amortized Cost | 31,126,000 | ' |
Available for sale securities/Fair Value | 29,918,000 | ' |
Due in 2024 and beyond [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 3.64% | ' |
Amortized Cost | 79,480,000 | ' |
Available for sale securities/Fair Value | 72,893,000 | ' |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 5.19% | ' |
Amortized Cost | 13,382,000 | 20,182,000 |
Available for sale securities/Fair Value | 14,511,000 | 21,996,000 |
Mutual funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Weighted Average Yield | 2.09% | ' |
Amortized Cost | 1,376,000 | 1,354,000 |
Available for sale securities/Fair Value | $1,365,000 | $1,405,000 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Receivables [Abstract] | ' | ' | ' | ' | ' |
Total loans | $1,075,487,000 | $1,035,288,000 | $1,075,487,000 | $1,035,288,000 | $1,041,189,000 |
Amount of increase in total loans | ' | ' | 34,300,000 | ' | ' |
Percentage increase in total loans | ' | ' | 3.30% | ' | ' |
Interest income recognized on impaired loans | $700,000 | $400,000 | $2,200,000 | $1,100,000 | ' |
Number of past due days for loans modified as TDR | '30 days | '30 days | '30 days | '30 days | ' |
Recovered_Sheet3
Loans and Allowance for Loan Losses - Components of Loan Portfolio Disaggregated by Class of Loan and Percentage Change in Total Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $1,075,487,000 | $1,041,189,000 | $1,035,288,000 |
Loan portfolio classes and segments as a percentage of aggregate loans | 100.00% | 100.00% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | 3.30% | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 286,887,000 | 285,322,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 26.70% | 27.40% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | 0.50% | ' | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 40,741,000 | 48,099,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 3.80% | 4.60% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | -15.30% | ' | ' |
Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 258,656,000 | 259,277,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 24.10% | 24.90% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | -0.20% | ' | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 368,301,000 | 324,886,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 34.20% | 31.20% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | 13.40% | ' | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 53,178,000 | 50,922,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 4.90% | 4.90% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | 4.40% | ' | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,007,763,000 | 968,506,000 | 957,411,000 |
Loan portfolio classes and segments as a percentage of aggregate loans | 93.70% | 93.00% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | 4.10% | ' | ' |
Retail Home Equity and Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 36,575,000 | 38,917,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 3.40% | 3.70% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | -6.00% | ' | ' |
Retail 1-4 Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 31,149,000 | 33,766,000 | ' |
Loan portfolio classes and segments as a percentage of aggregate loans | 2.90% | 3.30% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | -7.80% | ' | ' |
Retail Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $67,724,000 | $72,683,000 | $77,877,000 |
Loan portfolio classes and segments as a percentage of aggregate loans | 6.30% | 7.00% | ' |
Loans and leases receivable net of deferred income increase decrease percentage | -6.80% | ' | ' |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Nonperforming Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Loans past due 90 days or more still accruing interest | $0 | $0 |
Nonaccrual loans | 10,526,000 | 18,970,000 |
Total nonperforming loans | $10,526,000 | $18,970,000 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Recorded Principal Balance of Nonaccrual Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | $10,526,000 | $18,970,000 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 1,581,000 | 1,677,000 |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 922,000 | 2,194,000 |
Commercial Real Estate - Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 570,000 | 2,087,000 |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 4,642,000 | 9,010,000 |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 764,000 | 2,021,000 |
Commercial Loans [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 8,479,000 | 16,989,000 |
Retail Home Equity and Other [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 805,000 | 889,000 |
Retail 1-4 Family Mortgages [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | 1,242,000 | 1,092,000 |
Retail Loans [Member] | ' | ' |
Financing Receivable Recorded Investment Nonaccrual Loans [Line Items] | ' | ' |
Total nonaccrual loans | $2,047,000 | $1,981,000 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loan (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | $47,000 | $919,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 190,000 | ' |
Total past due loans Greater Than 89 Days Past Due | 3,356,000 | 5,008,000 | ' |
Total Past Due | 3,403,000 | 6,117,000 | ' |
Current | 1,072,084,000 | 1,035,072,000 | ' |
Total Loans | 1,075,487,000 | 1,041,189,000 | 1,035,288,000 |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 22,000 | 80,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 631,000 | 871,000 | ' |
Total Past Due | 653,000 | 951,000 | ' |
Current | 286,234,000 | 284,371,000 | ' |
Total Loans | 286,887,000 | 285,322,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 0 | 289,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 85,000 | 614,000 | ' |
Total Past Due | 85,000 | 903,000 | ' |
Current | 40,656,000 | 47,196,000 | ' |
Total Loans | 40,741,000 | 48,099,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 0 | 199,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 53,000 | 1,337,000 | ' |
Total Past Due | 53,000 | 1,536,000 | ' |
Current | 258,603,000 | 257,741,000 | ' |
Total Loans | 258,656,000 | 259,277,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 0 | 303,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 1,860,000 | 1,123,000 | ' |
Total Past Due | 1,860,000 | 1,426,000 | ' |
Current | 366,441,000 | 323,460,000 | ' |
Total Loans | 368,301,000 | 324,886,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 0 | 0 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 264,000 | 613,000 | ' |
Total Past Due | 264,000 | 613,000 | ' |
Current | 52,914,000 | 50,309,000 | ' |
Total Loans | 53,178,000 | 50,922,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 22,000 | 871,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 2,893,000 | 4,558,000 | ' |
Total Past Due | 2,915,000 | 5,429,000 | ' |
Current | 1,004,848,000 | 963,077,000 | ' |
Total Loans | 1,007,763,000 | 968,506,000 | 957,411,000 |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Retail Home Equity and Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 0 | 1,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 0 | ' |
Total past due loans Greater Than 89 Days Past Due | 0 | 13,000 | ' |
Total Past Due | 0 | 14,000 | ' |
Current | 36,575,000 | 38,903,000 | ' |
Total Loans | 36,575,000 | 38,917,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Retail 1-4 Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 25,000 | 47,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 190,000 | ' |
Total past due loans Greater Than 89 Days Past Due | 463,000 | 437,000 | ' |
Total Past Due | 488,000 | 674,000 | ' |
Current | 30,661,000 | 33,092,000 | ' |
Total Loans | 31,149,000 | 33,766,000 | ' |
Recorded Balance greater than 89 Days and Accruing | 0 | 0 | ' |
Retail Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total past due loans 30 - 59 Days Past Due | 25,000 | 48,000 | ' |
Total past due loans 60 - 89 Days Past Due | 0 | 190,000 | ' |
Total past due loans Greater Than 89 Days Past Due | 463,000 | 450,000 | ' |
Total Past Due | 488,000 | 688,000 | ' |
Current | 67,236,000 | 71,995,000 | ' |
Total Loans | 67,724,000 | 72,683,000 | 77,877,000 |
Recorded Balance greater than 89 Days and Accruing | $0 | $0 | ' |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | $12,456,000 | ' | $12,456,000 | ' | $20,038,000 |
Impaired loans, Unpaid Contractual Principal Balance | 55,253,000 | ' | 55,253,000 | ' | 69,166,000 |
Recorded Principal Balance, with no related allowance | 7,877,000 | ' | 7,877,000 | ' | 11,752,000 |
Impaired loans, Recorded Principal Balance | 50,277,000 | ' | 50,277,000 | ' | 57,279,000 |
Impaired loans, Related Allowance | 15,063,000 | ' | 15,063,000 | ' | 17,189,000 |
Average Recorded Principal Balance, with no related allowance | 9,199,000 | 16,027,000 | ' | ' | ' |
Impaired Loans, Third Quarter Average Recorded Principal Balance | 51,976,000 | 57,418,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 10,270,000 | 18,024,000 | ' |
Impaired loans, Year-To-Date Average Recorded Principal Balance | ' | ' | 53,233,000 | 62,328,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 42,797,000 | ' | 42,797,000 | ' | 49,128,000 |
Recorded Principal Balance, with related allowance | 42,400,000 | ' | 42,400,000 | ' | 45,527,000 |
Impaired loans, Related Allowance | 15,063,000 | ' | 15,063,000 | ' | 17,189,000 |
Impaired Loans, Average Recorded Principal Balance | 42,777,000 | 41,391,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 42,963,000 | 44,304,000 | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 2,632,000 | ' | 2,632,000 | ' | 1,926,000 |
Recorded Principal Balance, with no related allowance | 1,063,000 | ' | 1,063,000 | ' | 1,617,000 |
Impaired loans, Related Allowance | 1,035,000 | ' | 1,035,000 | ' | 924,000 |
Average Recorded Principal Balance, with no related allowance | 1,170,000 | 3,209,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 1,378,000 | 3,521,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 2,002,000 | ' | 2,002,000 | ' | 3,221,000 |
Recorded Principal Balance, with related allowance | 1,941,000 | ' | 1,941,000 | ' | 1,926,000 |
Impaired loans, Related Allowance | 1,035,000 | ' | 1,035,000 | ' | 924,000 |
Impaired Loans, Average Recorded Principal Balance | 1,764,000 | 3,528,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 1,990,000 | 3,406,000 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 1,200,000 | ' | 1,200,000 | ' | 2,356,000 |
Recorded Principal Balance, with no related allowance | 804,000 | ' | 804,000 | ' | 1,401,000 |
Impaired loans, Related Allowance | 1,216,000 | ' | 1,216,000 | ' | 1,367,000 |
Average Recorded Principal Balance, with no related allowance | 907,000 | 1,480,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 1,148,000 | 1,959,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 4,557,000 | ' | 4,557,000 | ' | 2,333,000 |
Recorded Principal Balance, with related allowance | 4,418,000 | ' | 4,418,000 | ' | 2,219,000 |
Impaired loans, Related Allowance | 1,216,000 | ' | 1,216,000 | ' | 1,367,000 |
Impaired Loans, Average Recorded Principal Balance | 4,466,000 | 2,981,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 3,158,000 | 3,529,000 | ' |
Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 575,000 | ' | 575,000 | ' | 2,368,000 |
Recorded Principal Balance, with no related allowance | 347,000 | ' | 347,000 | ' | 1,557,000 |
Impaired loans, Related Allowance | 901,000 | ' | 901,000 | ' | 1,388,000 |
Average Recorded Principal Balance, with no related allowance | 865,000 | 3,391,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 1,159,000 | 3,535,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 2,368,000 | ' | 2,368,000 | ' | 4,307,000 |
Recorded Principal Balance, with related allowance | 2,310,000 | ' | 2,310,000 | ' | 3,626,000 |
Impaired loans, Related Allowance | 901,000 | ' | 901,000 | ' | 1,388,000 |
Impaired Loans, Average Recorded Principal Balance | 2,330,000 | 4,120,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 2,810,000 | 5,235,000 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 5,135,000 | ' | 5,135,000 | ' | 9,984,000 |
Recorded Principal Balance, with no related allowance | 4,108,000 | ' | 4,108,000 | ' | 5,492,000 |
Impaired loans, Related Allowance | 9,785,000 | ' | 9,785,000 | ' | 11,773,000 |
Average Recorded Principal Balance, with no related allowance | 4,651,000 | 5,832,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 4,878,000 | 6,850,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 28,358,000 | ' | 28,358,000 | ' | 33,818,000 |
Recorded Principal Balance, with related allowance | 28,346,000 | ' | 28,346,000 | ' | 32,964,000 |
Impaired loans, Related Allowance | 9,785,000 | ' | 9,785,000 | ' | 11,773,000 |
Impaired Loans, Average Recorded Principal Balance | 28,789,000 | 25,220,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 30,216,000 | 23,085,000 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 1,008,000 | ' | 1,008,000 | ' | 1,188,000 |
Recorded Principal Balance, with no related allowance | 337,000 | ' | 337,000 | ' | 413,000 |
Impaired loans, Related Allowance | 923,000 | ' | 923,000 | ' | 1,408,000 |
Average Recorded Principal Balance, with no related allowance | 425,000 | 918,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 487,000 | 841,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 2,820,000 | ' | 2,820,000 | ' | 4,471,000 |
Recorded Principal Balance, with related allowance | 2,752,000 | ' | 2,752,000 | ' | 3,923,000 |
Impaired loans, Related Allowance | 923,000 | ' | 923,000 | ' | 1,408,000 |
Impaired Loans, Average Recorded Principal Balance | 2,639,000 | 4,748,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 2,973,000 | 8,306,000 | ' |
Commercial Loans [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 10,550,000 | ' | 10,550,000 | ' | 17,822,000 |
Impaired loans, Unpaid Contractual Principal Balance | 50,655,000 | ' | 50,655,000 | ' | 65,972,000 |
Recorded Principal Balance, with no related allowance | 6,659,000 | ' | 6,659,000 | ' | 10,480,000 |
Impaired loans, Recorded Principal Balance | 46,426,000 | ' | 46,426,000 | ' | 55,138,000 |
Impaired loans, Related Allowance | 13,860,000 | ' | 13,860,000 | ' | 16,860,000 |
Average Recorded Principal Balance, with no related allowance | 8,018,000 | 14,830,000 | ' | ' | ' |
Impaired Loans, Third Quarter Average Recorded Principal Balance | 48,006,000 | 55,427,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 9,050,000 | 16,706,000 | ' |
Impaired loans, Year-To-Date Average Recorded Principal Balance | ' | ' | 50,197,000 | 60,267,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 40,105,000 | ' | 40,105,000 | ' | 48,150,000 |
Recorded Principal Balance, with related allowance | 39,767,000 | ' | 39,767,000 | ' | 44,658,000 |
Impaired loans, Related Allowance | 13,860,000 | ' | 13,860,000 | ' | 16,860,000 |
Impaired Loans, Average Recorded Principal Balance | 39,988,000 | 40,597,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 41,147,000 | 43,561,000 | ' |
Retail Home Equity and Other [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 508,000 | ' | 508,000 | ' | 580,000 |
Recorded Principal Balance, with no related allowance | 464,000 | ' | 464,000 | ' | 483,000 |
Impaired loans, Related Allowance | 102,000 | ' | 102,000 | ' | 204,000 |
Average Recorded Principal Balance, with no related allowance | 466,000 | 482,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 474,000 | 603,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 322,000 | ' | 322,000 | ' | 423,000 |
Recorded Principal Balance, with related allowance | 293,000 | ' | 293,000 | ' | 394,000 |
Impaired loans, Related Allowance | 102,000 | ' | 102,000 | ' | 204,000 |
Impaired Loans, Average Recorded Principal Balance | 309,000 | 291,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 339,000 | 259,000 | ' |
Retail 1-4 Family Mortgages [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 1,398,000 | ' | 1,398,000 | ' | 1,636,000 |
Recorded Principal Balance, with no related allowance | 754,000 | ' | 754,000 | ' | 789,000 |
Impaired loans, Related Allowance | 1,101,000 | ' | 1,101,000 | ' | 125,000 |
Average Recorded Principal Balance, with no related allowance | 715,000 | 715,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 746,000 | 715,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 2,370,000 | ' | 2,370,000 | ' | 555,000 |
Recorded Principal Balance, with related allowance | 2,340,000 | ' | 2,340,000 | ' | 475,000 |
Impaired loans, Related Allowance | 1,101,000 | ' | 1,101,000 | ' | 125,000 |
Impaired Loans, Average Recorded Principal Balance | 2,480,000 | 503,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | 1,477,000 | 484,000 | ' |
Retail Loans [Member] | ' | ' | ' | ' | ' |
Impaired Loans By Type [Line Items] | ' | ' | ' | ' | ' |
Unpaid Contractual Principal Balance, with no related allowance | 1,906,000 | ' | 1,906,000 | ' | 2,216,000 |
Impaired loans, Unpaid Contractual Principal Balance | 4,598,000 | ' | 4,598,000 | ' | 3,194,000 |
Recorded Principal Balance, with no related allowance | 1,218,000 | ' | 1,218,000 | ' | 1,272,000 |
Impaired loans, Recorded Principal Balance | 3,851,000 | ' | 3,851,000 | ' | 2,141,000 |
Impaired loans, Related Allowance | 1,203,000 | ' | 1,203,000 | ' | 329,000 |
Average Recorded Principal Balance, with no related allowance | 1,181,000 | 1,197,000 | ' | ' | ' |
Impaired Loans, Third Quarter Average Recorded Principal Balance | 3,970,000 | 1,991,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with no related allowance | ' | ' | 1,220,000 | 1,318,000 | ' |
Impaired loans, Year-To-Date Average Recorded Principal Balance | ' | ' | 3,036,000 | 2,061,000 | ' |
Unpaid Contractual Principal Balance, with related allowance | 2,692,000 | ' | 2,692,000 | ' | 978,000 |
Recorded Principal Balance, with related allowance | 2,633,000 | ' | 2,633,000 | ' | 869,000 |
Impaired loans, Related Allowance | 1,203,000 | ' | 1,203,000 | ' | 329,000 |
Impaired Loans, Average Recorded Principal Balance | 2,789,000 | 794,000 | ' | ' | ' |
Year-To-Date Average Recorded Principal Balance, with related allowance | ' | ' | $1,816,000 | $743,000 | ' |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Loans by Credit Quality Indicators (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | $1,075,487,000 | $1,041,189,000 | $1,035,288,000 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 286,887,000 | 285,322,000 | ' |
Commercial and Industrial [Member] | Grades 1-4 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 208,750,000 | 180,314,000 | ' |
Commercial and Industrial [Member] | Grades 5-7 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 75,339,000 | 101,832,000 | ' |
Commercial and Industrial [Member] | Grades 8-9 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 2,798,000 | 3,176,000 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 40,741,000 | 48,099,000 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | Grades 1-4 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 8,089,000 | 6,526,000 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | Grades 5-7 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 27,022,000 | 37,697,000 | ' |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | Grades 8-9 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 5,630,000 | 3,876,000 | ' |
Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 258,656,000 | 259,277,000 | ' |
Commercial Real Estate - Owner Occupied [Member] | Grades 1-4 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 157,824,000 | 150,467,000 | ' |
Commercial Real Estate - Owner Occupied [Member] | Grades 5-7 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 97,819,000 | 102,988,000 | ' |
Commercial Real Estate - Owner Occupied [Member] | Grades 8-9 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 3,013,000 | 5,822,000 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 368,301,000 | 324,886,000 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | Grades 1-4 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 205,586,000 | 154,127,000 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | Grades 5-7 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 130,040,000 | 128,041,000 | ' |
Commercial Real Estate - Non-Owner Occupied [Member] | Grades 8-9 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 32,675,000 | 42,718,000 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 53,178,000 | 50,922,000 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | Grades 1-4 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 31,755,000 | 24,015,000 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | Grades 5-7 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 18,230,000 | 22,082,000 | ' |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | Grades 8-9 [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 3,193,000 | 4,825,000 | ' |
Retail Home Equity and Other [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | 36,575,000 | 38,917,000 | ' |
Retail 1-4 Family Mortgages [Member] | ' | ' | ' |
Financing Receivable Credit Quality Indicator [Line Items] | ' | ' | ' |
Total loans | $31,149,000 | $33,766,000 | ' |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses and the Recorded Investments in Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $24,947,000 | $29,689,000 | $28,677,000 | $36,532,000 | ' |
Provision for loan losses | -1,700,000 | -400,000 | -4,700,000 | -3,400,000 | ' |
Charge-offs | -85,000 | -1,891,000 | -2,881,000 | -11,175,000 | ' |
Recoveries | 2,033,000 | 364,000 | 4,099,000 | 5,805,000 | ' |
Ending balance | 25,195,000 | 27,762,000 | 25,195,000 | 27,762,000 | ' |
Ending balance: individually evaluated for impairment | 15,063,000 | 15,803,000 | 15,063,000 | 15,803,000 | ' |
Ending balance: collectively evaluated for impairment | 10,132,000 | 11,959,000 | 10,132,000 | 11,959,000 | ' |
Ending balance | 1,075,487,000 | 1,035,288,000 | 1,075,487,000 | 1,035,288,000 | 1,041,189,000 |
Ending balance: individually evaluated for impairment | 50,277,000 | 63,214,000 | 50,277,000 | 63,214,000 | ' |
Ending balance: collectively evaluated for impairment | 1,025,210,000 | 972,074,000 | 1,025,210,000 | 972,074,000 | ' |
Commercial Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 22,382,000 | 26,471,000 | 26,043,000 | 33,431,000 | ' |
Provision for loan losses | -1,730,000 | -355,000 | -4,375,000 | -3,480,000 | ' |
Charge-offs | 0 | -1,548,000 | -2,774,000 | -10,662,000 | ' |
Recoveries | 2,002,000 | 326,000 | 3,760,000 | 5,605,000 | ' |
Ending balance | 22,654,000 | 24,894,000 | 22,654,000 | 24,894,000 | ' |
Ending balance: individually evaluated for impairment | 13,860,000 | 15,498,000 | 13,860,000 | 15,498,000 | ' |
Ending balance: collectively evaluated for impairment | 8,794,000 | 9,396,000 | 8,794,000 | 9,396,000 | ' |
Ending balance | 1,007,763,000 | 957,411,000 | 1,007,763,000 | 957,411,000 | 968,506,000 |
Ending balance: individually evaluated for impairment | 46,426,000 | 61,378,000 | 46,426,000 | 61,378,000 | ' |
Ending balance: collectively evaluated for impairment | 961,337,000 | 896,033,000 | 961,337,000 | 896,033,000 | ' |
Retail Loans [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 2,559,000 | 3,167,000 | 2,645,000 | 3,019,000 | ' |
Provision for loan losses | -7,000 | -35,000 | -379,000 | 121,000 | ' |
Charge-offs | -85,000 | -343,000 | -107,000 | -513,000 | ' |
Recoveries | 31,000 | 38,000 | 339,000 | 200,000 | ' |
Ending balance | 2,498,000 | 2,827,000 | 2,498,000 | 2,827,000 | ' |
Ending balance: individually evaluated for impairment | 1,203,000 | 305,000 | 1,203,000 | 305,000 | ' |
Ending balance: collectively evaluated for impairment | 1,295,000 | 2,522,000 | 1,295,000 | 2,522,000 | ' |
Ending balance | 67,724,000 | 77,877,000 | 67,724,000 | 77,877,000 | 72,683,000 |
Ending balance: individually evaluated for impairment | 3,851,000 | 1,836,000 | 3,851,000 | 1,836,000 | ' |
Ending balance: collectively evaluated for impairment | 63,873,000 | 76,041,000 | 63,873,000 | 76,041,000 | ' |
Unallocated [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 6,000 | 51,000 | -11,000 | 82,000 | ' |
Provision for loan losses | 37,000 | -10,000 | 54,000 | -41,000 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Ending balance | 43,000 | 41,000 | 43,000 | 41,000 | ' |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Ending balance: collectively evaluated for impairment | 43,000 | 41,000 | 43,000 | 41,000 | ' |
Ending balance | ' | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | ' | ' | ' | ' | ' |
Ending balance: collectively evaluated for impairment | ' | ' | ' | ' | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Loans Modified as Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Contract | Contract | Contract | Contract | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 5 | 6 | 14 | 17 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | $1,070,000 | $18,175,000 | $9,233,000 | $24,871,000 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 1,070,000 | 18,170,000 | 9,233,000 | 24,863,000 |
Commercial and industrial [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 1 | 1 | 2 | 6 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 553,000 | 133,000 | 613,000 | 850,000 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 553,000 | 128,000 | 613,000 | 843,000 |
Vacant land, land development and residential construction [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 0 | 0 | 2 | 0 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 0 | 0 | 3,247,000 | 0 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 0 | 0 | 3,247,000 | 0 |
Real estate - owner occupied [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 0 | 0 | 3 | 5 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 0 | 0 | 909,000 | 1,588,000 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 0 | 0 | 909,000 | 1,587,000 |
Real estate - non-owner occupied [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 2 | 5 | 4 | 6 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 171,000 | 18,042,000 | 2,239,000 | 22,433,000 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 171,000 | 18,042,000 | 2,239,000 | 22,433,000 |
Real estate - multi-family and residential rental [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 2 | 0 | 2 | 0 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 346,000 | 0 | 346,000 | 0 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 346,000 | 0 | 346,000 | 0 |
Commercial Loans [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 5 | 6 | 13 | 17 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 1,070,000 | 18,175,000 | 7,354,000 | 24,871,000 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 1,070,000 | 18,170,000 | 7,354,000 | 24,863,000 |
Home equity and other [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 0 | 0 | 0 | 0 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 0 | 0 | 0 | 0 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 0 | 0 | 0 | 0 |
1 - 4 family mortgages [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 0 | 0 | 1 | 0 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 0 | 0 | 1,879,000 | 0 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | 0 | 0 | 1,879,000 | 0 |
Retail Loans [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Modification, Number of Contracts | 0 | 0 | 1 | 0 |
Financing Receivable Modification, Pre-Modification Recorded Principal Balance | 0 | 0 | 1,879,000 | 0 |
Financing Receivable Modification, Post-Modification Recorded Principal Balance | $0 | $0 | $1,879,000 | $0 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Loans, Modified As Troubled Debt Restructurings within the Previous Twelve Months, That Became Over 30 Days Past Due (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $0 | $0 | $0 | $0 |
Commercial Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | Commercial and industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | Vacant land, land development and residential construction [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | Real estate - owner occupied [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | Real estate - non-owner occupied [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | Real estate - multi-family and residential rental [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Retail Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Retail Loans [Member] | Home equity and other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | 0 | 0 | 0 | 0 |
Retail Loans [Member] | 1 - 4 family mortgages [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | 0 | 0 |
Recorded Principal Balance | $0 | $0 | $0 | $0 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - Activity for Loans Categorized as Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | $2,266,000 | $4,665,000 | $2,721,000 | $4,553,000 |
Charge-Offs | 0 | -60,000 | -35,000 | -172,000 |
Payments | -324,000 | -268,000 | -1,902,000 | -763,000 |
Transfers to ORE | 0 | -45,000 | -74,000 | -96,000 |
Net Additions/Deletions | 466,000 | 123,000 | 1,698,000 | 893,000 |
Ending Balance | 2,408,000 | 4,415,000 | 2,408,000 | 4,415,000 |
Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 5,440,000 | 3,250,000 | 3,071,000 | 5,100,000 |
Charge-Offs | 0 | 0 | -725,000 | 0 |
Payments | -303,000 | -55,000 | -456,000 | -1,952,000 |
Transfers to ORE | 0 | 0 | 0 | -351,000 |
Net Additions/Deletions | 0 | 0 | 3,247,000 | 398,000 |
Ending Balance | 5,137,000 | 3,195,000 | 5,137,000 | 3,195,000 |
Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 3,580,000 | 6,809,000 | 4,116,000 | 6,183,000 |
Charge-Offs | 0 | -12,000 | -70,000 | -426,000 |
Payments | -271,000 | -2,750,000 | -1,310,000 | -3,317,000 |
Transfers to ORE | 0 | 0 | -363,000 | 0 |
Net Additions/Deletions | -652,000 | 105,000 | 284,000 | 1,712,000 |
Ending Balance | 2,657,000 | 4,152,000 | 2,657,000 | 4,152,000 |
Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 34,424,000 | 16,881,000 | 37,672,000 | 12,037,000 |
Charge-Offs | 0 | -474,000 | -716,000 | -499,000 |
Payments | -1,690,000 | -178,000 | -5,475,000 | -689,000 |
Transfers to ORE | -350,000 | -579,000 | -1,153,000 | -579,000 |
Net Additions/Deletions | 68,000 | 18,043,000 | 2,124,000 | 23,423,000 |
Ending Balance | 32,452,000 | 33,693,000 | 32,452,000 | 33,693,000 |
Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 2,775,000 | 4,985,000 | 3,026,000 | 12,626,000 |
Charge-Offs | 0 | 0 | -15,000 | -2,180,000 |
Payments | -295,000 | -263,000 | -530,000 | -5,914,000 |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 343,000 | 0 | 342,000 | 190,000 |
Ending Balance | 2,823,000 | 4,722,000 | 2,823,000 | 4,722,000 |
Retail Home Equity and Other [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 2,029,000 | 159,000 | 155,000 | 164,000 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | -16,000 | -2,000 | -21,000 | -7,000 |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 1,879,000 | 0 |
Ending Balance | 2,013,000 | 157,000 | 2,013,000 | 157,000 |
Retail 1-4 Family Mortgages [Member] | ' | ' | ' | ' |
Schedule Of Troubled Debt Restructured Loans [Line Items] | ' | ' | ' | ' |
Beginning Balance | 0 | 0 | 0 | 0 |
Charge-Offs | 0 | 0 | 0 | 0 |
Payments | 0 | 0 | 0 | 0 |
Transfers to ORE | 0 | 0 | 0 | 0 |
Net Additions/Deletions | 0 | 0 | 0 | 0 |
Ending Balance | $0 | $0 | $0 | $0 |
Recovered_Sheet5
Loans and Allowance for Loan Losses - Allowance Related to Loans Categorized as Troubled Debt Restructurings (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | $25,195,000 | $24,947,000 | $28,677,000 | $27,762,000 | $29,689,000 | $36,532,000 |
Commercial Loans [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 22,654,000 | 22,382,000 | 26,043,000 | 24,894,000 | 26,471,000 | 33,431,000 |
Retail Loans [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 2,498,000 | 2,559,000 | 2,645,000 | 2,827,000 | 3,167,000 | 3,019,000 |
Financing Receivable Troubled Debt Restructuring [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 14,164,000 | ' | 13,097,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 619,000 | ' | 772,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial Vacant Land, Land Development, and Residential Construction [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 1,208,000 | ' | 713,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial Real Estate - Owner Occupied [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 893,000 | ' | 1,116,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial Real Estate - Non-Owner Occupied [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 9,639,000 | ' | 9,751,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial Real Estate - Multi-Family and Residential Rental [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 885,000 | ' | 745,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Commercial Loans [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 13,244,000 | ' | 13,097,000 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Home equity and other [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 0 | ' | 0 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | 1 - 4 family mortgages [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 920,000 | ' | 0 | ' | ' | ' |
Financing Receivable Troubled Debt Restructuring [Member] | Retail Loans [Member] | ' | ' | ' | ' | ' | ' |
Schedule Of Financing Receivable Troubled Debt Restructurings [Line Items] | ' | ' | ' | ' | ' | ' |
Total | $920,000 | ' | $0 | ' | ' | ' |
Premises_and_Equipment_Net_Sum
Premises and Equipment, Net - Summary of Premises and Equipment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | $45,930,000 | $45,981,000 |
Less: accumulated depreciation | 20,771,000 | 20,062,000 |
Premises and equipment, net | 25,159,000 | 25,919,000 |
Land and improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | 8,556,000 | 8,556,000 |
Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | 24,727,000 | 24,564,000 |
Furniture and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Premises and equipment, gross | $12,647,000 | $12,861,000 |
Premises_and_Equipment_Net_Add
Premises and Equipment, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' | ' | ' |
Depreciation expense | $0.30 | $0.30 | $1 | $1.10 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Deposit Assets [Abstract] | ' | ' |
Total deposits | $1,121,509,000 | $1,135,204,000 |
Amount of decrease in total deposits | $13,700,000 | ' |
Percentage of decrease in total deposits | 1.20% | ' |
Deposits_Components_of_Outstan
Deposits - Components of Outstanding Balances and Percentage Change in Deposits (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Deposits By Component Alternative [Abstract] | ' | ' |
Noninterest-bearing demand | $216,055,000 | $190,241,000 |
Interest-bearing checking | 195,964,000 | 188,057,000 |
Money market | 136,363,000 | 144,479,000 |
Savings | 52,993,000 | 56,454,000 |
Time, under $100,000 | 45,146,000 | 51,730,000 |
Time, $100,000 and over | 257,651,000 | 234,430,000 |
Total Local Deposits | 904,172,000 | 865,391,000 |
Out-of-area interest-bearing checking | 0 | 21,967,000 |
Out-of-area time, under $100,000 | 4,672,000 | 7,706,000 |
Out-of-area time, $100,000 and over | 212,665,000 | 240,140,000 |
Total out-of-area deposits | 217,337,000 | 269,813,000 |
Total deposits | $1,121,509,000 | $1,135,204,000 |
Percentage of Noninterest-bearing demand | 19.30% | 16.80% |
Percentage of Interest-bearing checking | 17.50% | 16.50% |
Percentage of Money market | 12.10% | 12.70% |
Percentage of Savings | 4.70% | 5.00% |
Percentage of time, under $100,000 | 4.00% | 4.60% |
Percentage of time, $100,000 and over | 23.00% | 20.60% |
Percentage of total local deposits | 80.60% | 76.20% |
Percentage of out-of-area interest-bearing checking | 0.00% | 1.90% |
Percentage of out-of-area time, under $100,000 | 0.40% | 0.70% |
Percentage of out-of-area time, $100,000 and over | 19.00% | 21.20% |
Aggregate percentage of out-of-area deposits | 19.40% | 23.80% |
Aggregate percentage of total deposits | 100.00% | 100.00% |
Percentage of Increase or (Decrease) in Noninterest-bearing demand | 13.60% | ' |
Percentage of Increase or (Decrease) of Interest-bearing checking Deposits | 4.20% | ' |
Percentage of Increase or (Decrease) of Money market Deposits | -5.60% | ' |
Percentage of Increase or (Decrease) of Savings Deposits | -6.10% | ' |
Percentage of Increase or (Decrease) in Time, under $100,000 | -12.70% | ' |
Percentage of Increase or (Decrease) in Time, $100,000 and over | 9.90% | ' |
Percentage of Increase or (Decrease) in Total Local Deposits | 4.50% | ' |
Percentage of Increase or (Decrease) in out-of-area interest-bearing checking | ' | ' |
Percentage of Increase or (Decrease) in out-of- area time, under $100,000 | -39.40% | ' |
Percentage Increase or (Decrease) in out-of-area time, $100,000 and over | -11.40% | ' |
Aggregate Percentage Increase or (Decrease) in out-of-area deposits | -19.40% | ' |
Aggregate Percentage Increase or (Decrease) in Total Deposits | -1.20% | ' |
Recovered_Sheet6
Securities Sold Under Agreements to Repurchase - Securities Sold Under Agreements to Repurchase (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' | ' |
Outstanding balance at end of period | $65,680,000 | $64,765,000 |
Average interest rate at end of period | 0.13% | 0.13% |
Average daily balance during the period | 64,309,000 | 61,930,000 |
Average interest rate during the period | 0.12% | 0.25% |
Maximum daily balance during the period | $76,979,000 | $81,980,000 |
Recovered_Sheet7
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Repurchase agreements original maturity description | 'Less than one year |
Recovered_Sheet8
Federal Home Loan Bank Advances - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Line of Credit Facility [Line Items] | ' | ' |
Federal Home Loan Bank advances | $45,000,000 | $35,000,000 |
Start date of maturities | '2017-03 | '2017-03 |
End date of maturities | '2017-09 | '2017-09 |
Average rate of interest maturities | 1.34% | 1.35% |
Borrowing line of credit facility | 150,000,000 | ' |
Available borrowing capacity under line of credit | $94,000,000 | ' |
Minimum [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Fixed rate of interest on maturities | 1.22% | 1.22% |
Maximum [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Fixed rate of interest on maturities | 1.51% | 1.51% |
Recovered_Sheet9
Federal Home Loan Bank Advances - Maturities of Currently Outstanding FHLB Advances (Detail) (USD $) | Sep. 30, 2013 |
Debt Disclosure [Abstract] | ' |
2013 | $0 |
2014 | 0 |
2015 | 0 |
2016 | 0 |
2017 | $45,000,000 |
Recovered_Sheet10
Commitments and Off-Balance Sheet Risk - Summary of Contractual Amounts of Financial Instruments with Off-balance Sheet Risk (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | $377,135,000 | $334,768,000 |
Commercial unused lines of credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | 225,732,000 | 222,237,000 |
Unused lines of credit secured by 1 - 4 family residential properties [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | 23,430,000 | 24,250,000 |
Credit card unused lines of credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | 8,555,000 | 8,512,000 |
Other consumer unused lines of credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | 6,379,000 | 4,613,000 |
Commitments to extend credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | 92,382,000 | 64,565,000 |
Standby letters of credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Contractual amounts of financial instruments with off-balance sheet risk | $20,657,000 | $10,591,000 |
Recovered_Sheet11
Commitments and Off-Balance Sheet Risk - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Maximum [Member] | Minimum [Member] | Interest Rate Swap Agreement [Member] | |||
Commitments Contingencies And Off Balance Sheet Arrangements [Line Items] | ' | ' | ' | ' | ' |
Notional amount of the underlying interest rate swap agreements entered into by commercial loan customers with correspondent banks | ' | ' | ' | ' | $18,100,000 |
Net fair value of interest rate swaps entered into by commercial loan customers with correspondent banks | -2,700,000 | ' | ' | ' | ' |
Fees accreted into income during interest rate swap agreements years | ' | ' | '15 years | '4 years | ' |
Reserve or liability balance for financial instruments with off-balance sheet risk | $0 | $0 | ' | ' | ' |
Hedging_Activities_Additional_
Hedging Activities - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||
Jun. 30, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 29, 2012 | Jun. 30, 2011 | Feb. 29, 2012 | |
Interest rate cap contracts [Member] | Basis Swap [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' | ' | ' |
Notional amounts of interest rate swap agreement and purchased interest rate cap | ' | ' | ' | ' | $100,000,000 | $32,000,000 |
Notional amount of sold interest rate cap | 100,000,000 | ' | ' | ' | ' | ' |
Rate used to determine payment received from correspondent bank on notional amount of interest rate swap/Basis for determining strike rate on purchased interest rate cap | '30-Day Libor rate | ' | ' | ' | ' | '90-Day Libor Rate |
Strike rate of sold interest rate cap in basis points above strike rate on purchased interest rate cap | 1.25% | ' | ' | ' | ' | ' |
Fixed spread added to the variable rate on our subordinated debentures | ' | ' | ' | ' | ' | 2.18% |
Subordinated debentures interest rate index | ' | ' | ' | ' | ' | '90-Day Libor Rate |
Subordinated debentures | ' | ' | ' | 32,000,000 | ' | ' |
Present value of Interest rate swap, record as liability | ' | 400,000 | 1,100,000 | ' | ' | ' |
Cap corridor maturity | ' | '2013-06 | ' | ' | ' | ' |
Interest rate swap agreement effective date | ' | '2013-01 | ' | ' | ' | ' |
Interest rate swap agreement maturity date | ' | '2018-01 | ' | ' | ' | ' |
Payment made under interest rate cap contract | ' | $0 | ' | ' | ' | ' |
Recovered_Sheet12
Fair Values of Financial Instruments - Carrying Amount, Estimated Fair Value and Level Within Fair Value Hierarchy of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Financial assets: | ' | ' |
Securities available for sale | $123,793,000 | $138,314,000 |
Carrying Values [Member] | ' | ' |
Financial assets: | ' | ' |
Securities available for sale | 123,793,000 | 138,314,000 |
FHLB stock | 11,961,000 | 11,961,000 |
Carrying Values [Member] | Level 1 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash | 1,995,000 | 1,576,000 |
Carrying Values [Member] | Level 2 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash equivalents | 123,923,000 | 134,427,000 |
Bank owned life insurance | 51,073,000 | 50,048,000 |
Accrued interest receivable | 3,777,000 | 3,874,000 |
Financial liabilities: | ' | ' |
Deposits | 1,121,509,000 | 1,135,204,000 |
Repurchase agreements | 65,680,000 | 64,765,000 |
FHLB advances | 45,000,000 | 35,000,000 |
Subordinated debentures | 32,990,000 | 32,990,000 |
Accrued interest payable | 1,643,000 | 2,314,000 |
Carrying Values [Member] | Level 3 [Member] | ' | ' |
Financial assets: | ' | ' |
Loans, net | 1,050,292,000 | 1,012,512,000 |
Carrying Values [Member] | Interest rate swap agreement [Member] | ' | ' |
Financial liabilities: | ' | ' |
Interest rate swap | 394,000 | 1,113,000 |
Fair Values [Member] | ' | ' |
Financial assets: | ' | ' |
Securities available for sale | 123,793,000 | 138,314,000 |
FHLB stock | 11,961,000 | 11,961,000 |
Fair Values [Member] | Level 1 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash | 1,995,000 | 1,576,000 |
Fair Values [Member] | Level 2 [Member] | ' | ' |
Financial assets: | ' | ' |
Cash equivalents | 123,923,000 | 134,427,000 |
Bank owned life insurance | 51,073,000 | 50,048,000 |
Accrued interest receivable | 3,777,000 | 3,874,000 |
Financial liabilities: | ' | ' |
Deposits | 1,123,304,000 | 1,135,614,000 |
Repurchase agreements | 65,680,000 | 64,765,000 |
FHLB advances | 45,139,000 | 35,000,000 |
Subordinated debentures | 32,974,000 | 32,943,000 |
Accrued interest payable | 1,643,000 | 2,314,000 |
Fair Values [Member] | Level 3 [Member] | ' | ' |
Financial assets: | ' | ' |
Loans, net | 1,047,313,000 | 1,004,541,000 |
Fair Values [Member] | Interest rate swap agreement [Member] | ' | ' |
Financial liabilities: | ' | ' |
Interest rate swap | $394,000 | $1,113,000 |
Fair_Values_Additional_Informa
Fair Values - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Fair Value Inputs [Abstract] | ' | ' |
Recorded cost of mortgage loans held for sale | $1,400,000 | $3,500,000 |
Transfers in or out of level 1, level 2 or level 3 | $0 | $0 |
Fair_Values_Assets_and_Liabili
Fair Values - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | $123,793,000 | $138,314,000 |
U.S. Government agency debt obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 89,294,000 | 79,098,000 |
Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 14,511,000 | 21,996,000 |
Michigan Strategic Fund bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 11,255,000 |
Municipal general obligation bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 17,706,000 | 22,743,000 |
Mutual funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 1,365,000 | 1,405,000 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets and liabilities measured at fair value on recurring basis | 123,399,000 | 137,201,000 |
Fair Value, Measurements, Recurring [Member] | U.S. Government agency debt obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 89,294,000 | 79,098,000 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 14,511,000 | 21,996,000 |
Fair Value, Measurements, Recurring [Member] | Michigan Strategic Fund bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | ' | 11,255,000 |
Fair Value, Measurements, Recurring [Member] | Municipal general obligation bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 17,706,000 | 22,743,000 |
Fair Value, Measurements, Recurring [Member] | Municipal revenue bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 917,000 | 1,817,000 |
Fair Value, Measurements, Recurring [Member] | Mutual funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 1,365,000 | 1,405,000 |
Fair Value, Measurements, Recurring [Member] | Interest rate swap agreement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivatives | -394,000 | -1,113,000 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets and liabilities measured at fair value on recurring basis | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | U.S. Government agency debt obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Michigan Strategic Fund bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Municipal general obligation bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Municipal revenue bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Mutual funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Interest rate swap agreement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivatives | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets and liabilities measured at fair value on recurring basis | 123,399,000 | 137,201,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government agency debt obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 89,294,000 | 79,098,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 14,511,000 | 21,996,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Michigan Strategic Fund bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | ' | 11,255,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Municipal general obligation bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 17,706,000 | 22,743,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Municipal revenue bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 917,000 | 1,817,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Mutual funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 1,365,000 | 1,405,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Interest rate swap agreement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivatives | -394,000 | -1,113,000 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets and liabilities measured at fair value on recurring basis | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | U.S. Government agency debt obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Michigan Strategic Fund bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Municipal general obligation bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Municipal revenue bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Mutual funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available for sale securities/Fair Value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Interest rate swap agreement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivatives | $0 | $0 |
Fair_Values_Assets_and_Liabili1
Fair Values - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Detail) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $31,205,000 | $34,406,000 |
Foreclosed assets | 3,549,000 | 6,970,000 |
Total | 34,754,000 | 41,376,000 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Total | 0 | 0 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 31,205,000 | 34,406,000 |
Foreclosed assets | 3,549,000 | 6,970,000 |
Total | $34,754,000 | $41,376,000 |
Regulatory_Matters_Summary_of_
Regulatory Matters - Summary of Actual Capital Levels and Minimum Levels (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Consolidated [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk weighted assets), Actual Amount | $186,699 | $173,323 |
Tier 1 capital (to risk weighted assets), Actual Amount | 171,362 | 158,349 |
Tier 1 capital (to average assets), Actual Amount | 171,362 | 158,349 |
Total capital (to risk weighted assets), Actual Ratio | 15.30% | 14.60% |
Tier 1 capital (to risk weighted assets), Actual Ratio | 14.10% | 13.40% |
Tier 1 capital (to average assets), Actual Ratio | 12.60% | 11.30% |
Total capital (to risk weighted assets), Minimum Amount Required for Capital Adequacy Purposes | 97,366 | 94,738 |
Tier 1 capital (to risk weighted assets), Minimum Amount Required for Capital Adequacy Purposes | 48,683 | 47,369 |
Tier 1 capital (to average assets), Minimum Amount Required for Capital Adequacy Purposes | 54,537 | 55,995 |
Total capital (to risk weighted assets), Minimum Ratio Required for Capital Adequacy Purposes | 8.00% | 8.00% |
Tier 1 capital (to risk weighted assets), Minimum Ratio Required for Capital Adequacy Purposes | 4.00% | 4.00% |
Tier 1 capital (to average assets), Minimum Ratio Required for Capital Adequacy Purposes | 4.00% | 4.00% |
Total capital (to risk weighted assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | ' | ' |
Tier 1 capital (to risk weighted assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | ' | ' |
Tier 1 capital (to average assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | ' | ' |
Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk weighted assets), Actual Amount | 186,020 | 173,828 |
Tier 1 capital (to risk weighted assets), Actual Amount | 170,691 | 158,871 |
Tier 1 capital (to average assets), Actual Amount | 170,691 | 158,871 |
Total capital (to risk weighted assets), Actual Ratio | 15.30% | 14.70% |
Tier 1 capital (to risk weighted assets), Actual Ratio | 14.00% | 13.40% |
Tier 1 capital (to average assets), Actual Ratio | 12.50% | 11.40% |
Total capital (to risk weighted assets), Minimum Amount Required for Capital Adequacy Purposes | 97,317 | 94,629 |
Tier 1 capital (to risk weighted assets), Minimum Amount Required for Capital Adequacy Purposes | 48,659 | 47,315 |
Tier 1 capital (to average assets), Minimum Amount Required for Capital Adequacy Purposes | 54,510 | 55,937 |
Total capital (to risk weighted assets), Minimum Ratio Required for Capital Adequacy Purposes | 8.00% | 8.00% |
Tier 1 capital (to risk weighted assets), Minimum Ratio Required for Capital Adequacy Purposes | 4.00% | 4.00% |
Tier 1 capital (to average assets), Minimum Ratio Required for Capital Adequacy Purposes | 4.00% | 4.00% |
Total capital (to risk weighted assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | 121,646 | 118,286 |
Tier 1 capital (to risk weighted assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | 73,025 | 70,972 |
Tier 1 capital (to average assets), Minimum Amount Required to be Well Capitalized Under Prompt Corrective Action Regulations | $68,171 | $69,922 |
Total capital (to risk weighted assets), Minimum Ratio Required to be Well Capitalized Under Prompt Corrective Action Regulations | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets), Minimum Ratio Required to be Well Capitalized Under Prompt Corrective Action Regulations | 6.00% | 6.00% |
Tier 1 capital (to average assets), Minimum Ratio Required to be Well Capitalized Under Prompt Corrective Action Regulations | 5.00% | 5.00% |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||||||
Jul. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Oct. 31, 2012 | 19-May-10 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2009 | Oct. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Subsequent Event [Member] | Installment One FY Two Thousand Thirteen [Member] | Installment Two FY Two Thousand Thirteen [Member] | Installment Three FY Two Thousand Thirteen [Member] | Installment Four FY Two Thousand Thirteen [Member] | Installment Five Fy Two Thousand Thirteen [Member] | ||||||||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred securities | ' | ' | ' | ' | ' | $32,000,000 | ' | ' | $32,000,000 | ' | $32,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate amount of restricted core elements allowed in Tier 1 capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Trusted preferred securities issued date | ' | ' | ' | ' | 'before May 19, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum level of consolidated aggregate assets allowing for inclusion of trust preferred securities in Tier Capital under Dodd-Frank Act | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,000,000,000 | ' | ' | ' | ' | ' | ' |
Cash dividend on common stock | ' | ' | ' | ' | ' | $0.12 | $0.11 | $0.10 | $0.09 | $0 | $0.33 | $0 | ' | ' | ' | ' | ' | ' | ' |
Cash dividend declared on common stock | $0.12 | $0.11 | $0.10 | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.12 | ' | ' | ' | ' | ' |
Dividend declared date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11-Oct-12 | 10-Jan-13 | 11-Apr-13 | 11-Jul-13 | 10-Oct-13 |
Dividend payable date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10-Dec-12 | 8-Mar-13 | 10-Jun-13 | 10-Sep-13 | 10-Dec-13 |
Dividend payable date of record | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9-Nov-12 | 8-Feb-13 | 10-May-13 | 9-Aug-13 | 8-Nov-13 |
Dividend suspended date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-10 | ' | ' | ' | ' | ' | ' | ' | ' |