Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PEOPLES FINANCIAL SERVICES CORP. | ' |
Entity Central Index Key | '0001056943 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 3,087,406 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
CONSOLIDATED_BALANCE_SHEETS_UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $12,724 | $9,777 |
Interest-bearing deposits in other banks | 41 | 1,126 |
Federal funds sold | 11,755 | 17,180 |
Investment securities available-for-sale | 155,016 | 147,780 |
Loans held for sale | 3,616 | 1,917 |
Loans, net | 505,109 | 465,773 |
Less: allowance for loan losses | 6,835 | 6,581 |
Net loans | 498,274 | 459,192 |
Premises and equipment, net | 8,621 | 8,685 |
Accrued interest receivable | 3,395 | 3,272 |
Other assets | 20,984 | 22,594 |
Total assets | 714,426 | 671,523 |
Deposits: | ' | ' |
Noninterest-bearing | 117,170 | 102,322 |
Interest-bearing | 504,630 | 471,989 |
Total deposits | 621,800 | 574,311 |
Short-term borrowings | 17,854 | 12,764 |
Long-term debt | 2,507 | 13,130 |
Accrued interest payable | 219 | 425 |
Other liabilities | 3,760 | 4,697 |
Total liabilities | 646,140 | 605,327 |
Stockholders' equity: | ' | ' |
Common stock, par value $2.00; authorized 12,500,000 shares; issued 3,341,251 shares | 6,683 | 6,683 |
Capital surplus | 3,194 | 3,155 |
Retained earnings | 61,956 | 57,781 |
Accumulated other comprehensive income | 2,694 | 4,876 |
Less: Treasury stock, at cost, September 30, 2013, 253,845 shares; December 31, 2012, 256,995 shares | 6,241 | 6,299 |
Total stockholders' equity | 68,286 | 66,196 |
Total liabilities and stockholders' equity | $714,426 | $671,523 |
CONSOLIDATED_BALANCE_SHEETS_UN1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Stockholders' equity: | ' | ' |
Common stock, par value (in dollars per share) | $2 | $2 |
Common stock, shares authorized (in shares) | 12,500,000 | 12,500,000 |
Common stock, shares issued (in shares) | 3,341,251 | 3,341,251 |
Treasury stock, shares (in shares) | 253,845 | 256,995 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and fees on loans: | ' | ' | ' | ' |
Taxable | $6,042 | $5,698 | $17,675 | $16,895 |
Tax-exempt | 278 | 316 | 867 | 1,128 |
Interest and dividends on investment securities available-for-sale: | ' | ' | ' | ' |
Taxable | 630 | 558 | 1,795 | 1,797 |
Tax-exempt | 345 | 325 | 1,041 | 1,012 |
Dividends | 5 | 6 | 17 | 21 |
Interest on interest-bearing deposits in other banks | ' | 2 | 2 | 7 |
Interest on federal funds sold | 18 | 11 | 32 | 11 |
Total interest income | 7,318 | 6,916 | 21,429 | 20,871 |
Interest expense: | ' | ' | ' | ' |
Interest on deposits | 1,032 | 1,115 | 3,004 | 3,234 |
Interest on short-term borrowings | 36 | 29 | 100 | 140 |
Interest on long-term debt | 32 | 163 | 144 | 506 |
Total interest expense | 1,100 | 1,307 | 3,248 | 3,880 |
Net interest income | 6,218 | 5,609 | 18,181 | 16,991 |
Provision for loan losses | 165 | 330 | 495 | 1,365 |
Net interest income after provision for loan losses | 6,053 | 5,279 | 17,686 | 15,626 |
Noninterest income: | ' | ' | ' | ' |
Service charges, fees, commissions and other | 895 | 804 | 2,527 | 2,344 |
Wealth management income | 195 | 180 | 589 | 461 |
Mortgage banking income | 45 | 277 | 458 | 653 |
Net gain (loss) on sale of investment securities available-for-sale | ' | ' | -1 | 383 |
Total noninterest income | 1,135 | 1,261 | 3,573 | 3,841 |
Noninterest expense: | ' | ' | ' | ' |
Salaries and employee benefits expense | 2,307 | 1,792 | 6,265 | 5,271 |
Net occupancy and equipment expense | 851 | 747 | 2,520 | 2,290 |
Other expenses | 1,902 | 1,299 | 4,474 | 3,496 |
Total noninterest expense | 5,060 | 3,838 | 13,259 | 11,057 |
Income before income taxes | 2,128 | 2,702 | 8,000 | 8,410 |
Provision for income taxes | 385 | 462 | 1,695 | 1,466 |
Net income | 1,743 | 2,240 | 6,305 | 6,944 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available-for-sale | -521 | 321 | -3,307 | 2,086 |
Reclassification adjustment for gain on sales included in net income | ' | ' | 1 | -383 |
Income tax expense (benefit) related to other comprehensive income (loss) | -177 | 109 | -1,124 | 580 |
Other comprehensive income (loss), net of income taxes | -344 | 212 | -2,182 | 1,123 |
Comprehensive income | $1,399 | $2,452 | $4,123 | $8,067 |
Net income: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.56 | $0.72 | $2.04 | $2.23 |
Diluted (in dollars per share) | $0.56 | $0.72 | $2.04 | $2.23 |
Average common shares outstanding: | ' | ' | ' | ' |
Basic (in shares) | 3,087,249 | 3,118,356 | 3,085,901 | 3,118,298 |
Diluted (in shares) | 3,087,408 | 3,118,356 | 3,086,110 | 3,118,705 |
Dividends declared (in dollars per share) | $0.23 | $0.22 | $0.69 | $0.64 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (USD $) | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands, unless otherwise specified | ||||||
Balance at Dec. 31, 2011 | $6,683 | $3,141 | $51,342 | $3,645 | ($5,198) | $59,613 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 6,944 | ' | ' | 6,944 |
Other comprehensive income, net of income taxes | ' | ' | ' | 1,123 | ' | 1,123 |
Dividends declared | ' | ' | -1,995 | ' | ' | -1,995 |
Reissuance under option plan | ' | 12 | ' | ' | 82 | 94 |
Purchase of treasury stock | ' | ' | ' | ' | -143 | -143 |
Balance at Sep. 30, 2012 | 6,683 | 3,153 | 56,291 | 4,768 | -5,259 | 65,636 |
Balance at Dec. 31, 2012 | 6,683 | 3,155 | 57,781 | 4,876 | -6,299 | 66,196 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 6,305 | ' | ' | 6,305 |
Other comprehensive income, net of income taxes | ' | ' | ' | -2,182 | ' | -2,182 |
Dividends declared | ' | ' | -2,130 | ' | ' | -2,130 |
Reissuance under option plan | ' | 39 | ' | ' | 58 | 97 |
Balance at Sep. 30, 2013 | $6,683 | $3,194 | $61,956 | $2,694 | $6,241 | $68,286 |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) (USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract] | ' | ' |
Dividends declared (in dollars per share) | $0.69 | $0.64 |
Reissuance under option plan (in shares) | 3,150 | 4,500 |
Repurchase and held (in shares) | ' | 5,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $6,305 | $6,944 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization of premises and equipment | 664 | 631 |
Amortization of intangibles | 81 | 123 |
Provision for loan losses | 495 | 1,365 |
Loss on sale of other real estate owned | 109 | 7 |
Net amortization of investment securities available-for-sale | 1,729 | 1,468 |
Amortization of deferred loan costs | 211 | 203 |
Loss (gain) on sale of investment securities available-for-sale | 1 | -383 |
Net income from investment in life insurance | -274 | -284 |
Net change in: | ' | ' |
Loans held for sale | -1,699 | -635 |
Accrued interest receivable | -123 | 57 |
Other assets | 1,959 | 481 |
Accrued interest payable | -206 | -21 |
Other liabilities | -937 | -2,335 |
Net cash provided by operating activities | 8,315 | 7,621 |
Cash flows from investing activities: | ' | ' |
Proceeds from sales of investment securities available-for-sale | 300 | 5,216 |
Proceeds from repayments on investment securities available-for-sale | 14,593 | 12,809 |
Purchases of investment securities available-for-sale | -27,165 | -16,591 |
Net increase in loans | -39,878 | -27,421 |
Purchases of premises and equipment | -600 | -1,296 |
Purchases of investment in life insurance | ' | -450 |
Proceeds from sale of other real estate owned | 949 | 62 |
Net cash used in investing activities | -51,801 | -27,671 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 47,489 | 60,129 |
Repayment of long-term debt | -10,623 | -5,594 |
Net increase (decrease) in short-term borrowings | 5,090 | -30,193 |
Repurchase of common shares | ' | -143 |
Reissuance of common shares | 97 | 94 |
Cash dividends paid | -2,130 | -1,995 |
Net cash provided by financing activities | 39,923 | 22,298 |
Net increase (decrease) in cash and cash equivalents | -3,563 | 2,248 |
Cash and cash equivalents at beginning of year | 28,083 | 10,559 |
Cash and cash equivalents at end of period | 24,520 | 12,807 |
Cash paid during the period for: | ' | ' |
Interest | 3,454 | 3,901 |
Income taxes | 2,200 | 1,050 |
Noncash items: | ' | ' |
Transfers from loans to other real estate owned | $90 | $1,489 |
Basis_of_presentation
Basis of presentation | 9 Months Ended | |
Sep. 30, 2013 | ||
Basis of presentation [Abstract] | ' | |
Basis of presentation | ' | |
1 | Basis of presentation: | |
The accompanying unaudited consolidated financial statements of  Peoples Financial Services Corp, and subsidiaries (collectively, the "Company") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information, Regulation S-X and reporting practices applied in the banking industry. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. All significant intercompany balances and transactions have been eliminated in consolidation. Prior-period amounts are reclassified when necessary to conform with the current year's presentation. These reclassifications did not have any effect on the operating results or financial position of the Company. The operating results and financial position of the Company for the three and nine months ended and as of September 30, 2013, are not necessarily indicative of the results of operations and financial position that may be expected in the future. | ||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, refer to the Notes to Consolidated Financial Statements for the year ended December 31, 2012, included in the Form S-4 filed with the Securities and Exchange Commission on August 13, 2013. | ||
The Company has evaluated events and transactions occurring subsequent to the balance sheet date of September 30, 2013, for items that should potentially be recognized or disclosed in these consolidated financial statements. Â The evaluation was conducted through the date these consolidated financial statements were issued. |
Other_comprehensive_income_los
Other comprehensive income (loss) | 9 Months Ended | |
Sep. 30, 2013 | ||
Other comprehensive income (loss) [Abstract] | ' | |
Other comprehensive income (loss) | ' | |
2 | Other comprehensive income (loss): | |
The reclassification adjustment for gain (loss) on investment securities available-for-sale is included in net gain (loss) on sale of investment securities available-for-sale in total noninterest income on the Consolidated Statements of Income and Comprehensive Income. Â The income tax expense (benefit) on the net gain (loss) on sale of investment securities available-for-sale is included in the provision for income taxes on the Consolidated Statements of Income and Comprehensive Income. |
Earnings_per_share
Earnings per share | 9 Months Ended | |
Sep. 30, 2013 | ||
Earnings per share [Abstract] | ' | |
Earnings per share | ' | |
3 | Earnings per share: | |
Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Â Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Â Potential common shares that may be issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method. | ||
Stock options for 2,878 and 5,800 shares of common stock were not considered in computing diluted earnings per share for the three and nine months ended September 30, 2013 and 2012, respectively, because they were antidilutive. |
Investment_securities_availabl
Investment securities available-for-sale | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investment securities available-for-sale [Abstract] | ' | ||||||||||||||||||||||||
Investment securities available-for-sale | ' | ||||||||||||||||||||||||
4 | Investment securities available-for-sale: | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities available-for-sale aggregated by investment category at September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||||||||||||||||||
30-Sep-13 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair | |||||||||||||||||||||
Value | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 29,147 | $ | 2,169 | $ | 31,316 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,139 | 967 | $ | 3 | 17,103 | ||||||||||||||||||||
Tax-exempt | 47,263 | 880 | 384 | 47,759 | |||||||||||||||||||||
Corporate debt securities | 4,034 | 265 | 4,299 | ||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 21,144 | 156 | 190 | 21,110 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 32,720 | 256 | 98 | 32,878 | |||||||||||||||||||||
Common equity securities | 487 | 85 | 21 | 551 | |||||||||||||||||||||
Total | $ | 150,934 | $ | 4,778 | $ | 696 | $ | 155,016 | |||||||||||||||||
31-Dec-12 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair | |||||||||||||||||||||
Value | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 29,375 | $ | 3,556 | $ | 32,931 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,611 | 2,083 | 18,694 | ||||||||||||||||||||||
Tax-exempt | 45,480 | 2,035 | $ | 127 | 47,388 | ||||||||||||||||||||
Corporate debt securities | 4,038 | 139 | 306 | 3,871 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 21,532 | 173 | 151 | 21,554 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 22,868 | 129 | 129 | 22,868 | |||||||||||||||||||||
Common equity securities | 488 | 17 | 31 | 474 | |||||||||||||||||||||
Total | $ | 140,392 | $ | 8,132 | $ | 744 | $ | 147,780 | |||||||||||||||||
The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at September 30, 2013, is summarized as follows: | |||||||||||||||||||||||||
30-Sep-13 | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Within one year | $ | 1,518 | |||||||||||||||||||||||
After one but within five years | 38,096 | ||||||||||||||||||||||||
After five but within ten years | 30,045 | ||||||||||||||||||||||||
After ten years | 30,818 | ||||||||||||||||||||||||
100,477 | |||||||||||||||||||||||||
Mortgage-backed securities | 53,988 | ||||||||||||||||||||||||
Total | $ | 154,465 | |||||||||||||||||||||||
Securities with a carrying value of $103,457 and $89,699 at September 30, 2013 and December 31, 2012, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law. | |||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, there were no securities of any individual issuer, except for U.S. Government agencies and sponsored enterprises, which exceeded 10.0 percent of stockholders' equity. | |||||||||||||||||||||||||
The fair value and gross unrealized losses of investment securities available-for-sale with unrealized losses for which an other-than-temporary impairment ("OTTI") has not been recognized at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
30-Sep-13 | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
U.S. Government-sponsored enterprises | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | $ | 497 | $ | 3 | $ | 497 | $ | 3 | |||||||||||||||||
Tax-Exempt | 13,828 | 384 | 13,828 | 384 | |||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 9,753 | 190 | 9,753 | 190 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 6,579 | 12 | $ | 3,086 | $ | 86 | 9,665 | 98 | |||||||||||||||||
Common equity securities | 116 | 21 | 116 | 21 | |||||||||||||||||||||
Total | $ | 30,657 | $ | 589 | $ | 3,202 | $ | 107 | $ | 33,859 | $ | 696 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-12 | Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||||||||
Value | Value | Value | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 12,483 | $ | 127 | $ | 12,483 | $ | 127 | |||||||||||||||||
Corporate debt securities | $ | 2,705 | $ | 306 | 2,705 | 306 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 11,934 | 146 | 838 | 5 | 12,772 | 151 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 9,042 | 83 | 4,229 | 46 | 13,271 | 129 | |||||||||||||||||||
Common equity securities | 106 | 31 | 106 | 31 | |||||||||||||||||||||
Total | $ | 33,459 | $ | 356 | $ | 7,878 | $ | 388 | $ | 41,337 | $ | 744 | |||||||||||||
The Company had 49 investment securities, consisting of 37 tax-exempt and one taxable state and municipal obligation, nine mortgage-backed securities and two common equity securities that were in unrealized loss positions at September 30, 2013. Â Of these securities, two mortgage-backed securities and two common equity securities were in continuous unrealized loss positions for 12 months or more. Â In comparison, the Company had 59 investment securities, consisting of 36 tax-exempt state and municipal obligations, two corporate debt securities, 19 mortgage-backed securities and two common equity securities, which were in unrealized loss positions at December 31, 2012. Â Of these securities, seven mortgage-backed securities, and each of the corporate debt securities and common equity securities were in continuous unrealized loss positions for 12 months or more. Â The unrealized losses on the common equity securities were a direct reflection of reductions in stock values in the financial industry sector, as a whole, and were not a result of credit or other issues that would cause the Company to recognize an OTTI charge. Â Management does not consider the unrealized losses on the debt securities, as a result of changes in interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company did not consider the unrealized losses to be OTTI at September 30, 2013 and December 31, 2012. In addition, there was no OTTI recognized for the nine month periods ended September 30, 2013 and 2012. |
Loans_net_and_allowance_for_lo
Loans, net and allowance for loan losses | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Loans, net and allowance for loan losses [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, net and allowance for loan losses | ' | ||||||||||||||||||||||||||||
5 | Loans, net and allowance for loan losses: | ||||||||||||||||||||||||||||
The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2013 and December 31, 2012 are summarized as follows. Net deferred loan costs were $679 at September 30, 2013, and $589 at December 31, 2012. | |||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||
Commercial | $ | 187,462 | $ | 170,379 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 181,557 | 158,798 | |||||||||||||||||||||||||||
Residential | 117,796 | 117,527 | |||||||||||||||||||||||||||
Consumer | 18,294 | 19,069 | |||||||||||||||||||||||||||
Total | $ | 505,109 | $ | 465,773 | |||||||||||||||||||||||||
The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2013 and 2012 are summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2013 | $ | 2,711 | $ | 2,831 | $ | 886 | $ | 176 | $ | 131 | $ | 6,735 | |||||||||||||||||
Charge-offs | (46 | ) | (24 | ) | (70 | ) | |||||||||||||||||||||||
Recoveries | (2 | ) | (2 | ) | 9 | 5 | |||||||||||||||||||||||
Provisions | 18 | (1 | ) | 65 | 16 | 67 | 165 | ||||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2013 | $ | 2,024 | $ | 2,101 | $ | 1,206 | $ | 234 | $ | 1,016 | $ | 6,581 | |||||||||||||||||
Charge-offs | (46 | ) | (58 | ) | (187 | ) | (53 | ) | (344 | ) | |||||||||||||||||||
Recoveries | 2 | 77 | 24 | 103 | |||||||||||||||||||||||||
Provisions | 701 | 787 | (147 | ) | (28 | ) | (818 | ) | 495 | ||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, July 1, 2012 | $ | 2,117 | $ | 1,970 | $ | 819 | $ | 197 | $ | 813 | $ | 5,916 | |||||||||||||||||
Charge-offs | (12 | ) | (90 | ) | (102 | ) | |||||||||||||||||||||||
Recoveries | 1 | 152 | 153 | ||||||||||||||||||||||||||
Provisions | (10 | ) | 21 | 137 | (68 | ) | 250 | 330 | |||||||||||||||||||||
Ending balance | $ | 2,096 | $ | 1,991 | $ | 956 | $ | 191 | $ | 1,063 | $ | 6,297 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, January 1, 2012 | $ | 2,047 | $ | 1,515 | $ | 761 | $ | 198 | $ | 828 | $ | 5,349 | |||||||||||||||||
Charge-offs | (219 | ) | (100 | ) | (21 | ) | (267 | ) | (607 | ) | |||||||||||||||||||
Recoveries | 2 | 188 | 190 | ||||||||||||||||||||||||||
Provisions | 266 | 576 | 216 | 72 | 235 | 1,365 | |||||||||||||||||||||||
Ending balance | $ | 2,096 | $ | 1,991 | $ | 956 | $ | 191 | $ | 1,063 | $ | 6,297 | |||||||||||||||||
The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2013 and December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September  30, 2013 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Ending balance: individually evaluated for impairment | 386 | 424 | 297 | 1,107 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,295 | $ | 2,406 | $ | 652 | $ | 177 | $ | 198 | $ | 5,728 | |||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 187,462 | $ | 181,557 | $ | 117,796 | $ | 18,294 | $ | 505,109 | |||||||||||||||||||
Ending balance: individually evaluated  for impairment | 3,275 | 13,388 | 1,891 | 18,554 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 184,187 | $ | 168,169 | $ | 115,905 | $ | 18,294 | $ | 486,555 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,024 | $ | 2,101 | $ | 1,206 | $ | 234 | $ | 1,016 | $ | 6,581 | |||||||||||||||||
Ending balance: individually evaluated for impairment | 327 | 239 | 283 | 6 | 855 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,697 | $ | 1,862 | $ | 923 | $ | 228 | $ | 1,016 | $ | 5,726 | |||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 170,379 | $ | 158,798 | $ | 117,527 | $ | 19,069 | $ | 465,773 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 5,169 | 7,137 | 1,522 | 6 | 13,834 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 165,210 | $ | 151,661 | $ | 116,005 | $ | 19,063 | $ | 451,939 | |||||||||||||||||||
The Company segments loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are individually analyzed for credit risk by classifying them within the Company's internal risk rating system. The Company's risk rating classifications are defined as follows: | |||||||||||||||||||||||||||||
· | Pass- A loan to borrowers with acceptable credit quality and risk that is not adversely classified as Substandard, Doubtful, Loss nor designated as Special Mention. | ||||||||||||||||||||||||||||
· | Special Mention- A loan that has potential weaknesses that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. Special Mention loans are not adversely classified since they do not expose the Company to sufficient risk to warrant adverse classification. | ||||||||||||||||||||||||||||
· | Substandard- A loan that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||
· | Doubtful- A loan classified as Doubtful has all the weakness inherent in one classified Substandard with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||||||||||||||
· | Loss-A loan classified as Loss is considered uncollectible and of such little value that their continuance as bankable loans is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. | ||||||||||||||||||||||||||||
The following tables present the major classifications of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||
30-Sep-13 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 179,054 | $ | 5,186 | $ | 815 | $ | 2,407 | $ | 187,462 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 165,829 | 3,960 | 8,029 | 3,739 | 181,557 | ||||||||||||||||||||||||
Residential | 115,557 | 348 | 227 | 1,664 | 117,796 | ||||||||||||||||||||||||
Consumer | 18,278 | 16 | 18,294 | ||||||||||||||||||||||||||
Total | $ | 478,718 | $ | 9,510 | $ | 9,071 | $ | 7,810 | $ | 505,109 | |||||||||||||||||||
31-Dec-12 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 161,236 | $ | 5,752 | $ | 1,113 | $ | 2,278 | $ | 170,379 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 146,205 | 5,302 | 3,120 | 4,171 | 158,798 | ||||||||||||||||||||||||
Residential | 116,042 | 1,485 | 117,527 | ||||||||||||||||||||||||||
Consumer | 19,058 | 11 | 19,069 | ||||||||||||||||||||||||||
Total | $ | 442,541 | $ | 11,065 | $ | 4,233 | $ | 7,934 | $ | 465,773 | |||||||||||||||||||
Information concerning nonaccrual loans by major loan category at September 30, 2013 and December 31, 2012, is as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||
Commercial | $ | 2,407 | $ | 2,278 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,739 | 4,171 | |||||||||||||||||||||||||||
Residential | 1,664 | 1,485 | |||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 7,810 | $ | 7,934 | |||||||||||||||||||||||||
The major categories of the loan portfolio by past due status at September 30, 2013 and December 31, 2012, are summarized as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total Past Due | Current | Total Loans | Loans > 90 Days and Accruing | ||||||||||||||||||||||
Commercial | $ | 272 | $ | 3 | $ | 2,254 | $ | 2,529 | $ | 184,933 | $ | 187,462 | $ | 53 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,041 | 1,540 | 429 | 3,010 | 178,547 | 181,557 | |||||||||||||||||||||||
Residential | 1,138 | 231 | 1,177 | 2,546 | 115,250 | 117,796 | |||||||||||||||||||||||
Consumer | 341 | 152 | 444 | 937 | 17,357 | 18,294 | 444 | ||||||||||||||||||||||
Total | $ | 2,792 | $ | 1,926 | $ | 4,304 | $ | 9,022 | $ | 496,087 | $ | 505,109 | $ | 497 | |||||||||||||||
31-Dec-12 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total Past Due | Current | Total Loans | Loans > 90 Days and Accruing | ||||||||||||||||||||||
Commercial | $ | 883 | $ | 255 | $ | 324 | $ | 1,462 | $ | 168,917 | $ | 170,379 | $ | 324 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 2,268 | 245 | 22 | 2,535 | 156,263 | 158,798 | 22 | ||||||||||||||||||||||
Residential | 1,528 | 21 | 1,549 | 115,978 | 117,527 | 21 | |||||||||||||||||||||||
Consumer | 411 | 192 | 494 | 1,097 | 17,972 | 19,069 | 494 | ||||||||||||||||||||||
Total | $ | 5,090 | $ | 692 | $ | 861 | $ | 6,643 | $ | 459,130 | $ | 465,773 | $ | 861 | |||||||||||||||
The following tables summarize information in regards to impaired loans as of and for the three and nine months ended September 30, 2013 and 2012, and as of and for the year ended December 31, 2012, by loan portfolio class: | |||||||||||||||||||||||||||||
This Quarter | Year to Date | ||||||||||||||||||||||||||||
30-Sep-13 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 755 | $ | 755 | $ | 1,076 | $ | 17 | $ | 1,167 | $ | 59 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 10,133 | 10,133 | 11,148 | 63 | 7,884 | 146 | |||||||||||||||||||||||
Residential | 1,096 | 1,096 | 1,201 | 2 | 983 | 5 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 11,984 | 11,984 | 13,425 | 82 | 10,034 | 210 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,520 | 2,520 | $ | 386 | 2,505 | 1 | 2,661 | 1 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,255 | 3,255 | 424 | 3,300 | 53 | 3,312 | 112 | ||||||||||||||||||||||
Residential | 795 | 795 | 297 | 737 | 5 | 933 | 5 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,570 | 6,570 | 1,107 | 6,542 | 59 | 6,906 | 118 | ||||||||||||||||||||||
Commercial | 3,275 | 3,275 | 386 | 3,581 | 18 | 3,828 | 60 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 13,388 | 13,388 | 424 | 14,448 | 116 | 11,196 | 258 | ||||||||||||||||||||||
Residential | 1,891 | 1,891 | 297 | 1,938 | 7 | 1,916 | 10 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 18,554 | $ | 18,554 | $ | 1,107 | $ | 19,967 | $ | 141 | $ | 16,940 | $ | 328 | |||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
31-Dec-12 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 3,782 | $ | 3,782 | $ | 4,792 | $ | 114 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,354 | 3,354 | 1,632 | 72 | |||||||||||||||||||||||||
Residential | 359 | 359 | 771 | ||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 7,495 | 7,495 | 7,195 | 186 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,387 | 1,387 | $ | 327 | 2,798 | 10 | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,783 | 3,783 | 239 | 3,749 | 120 | ||||||||||||||||||||||||
Residential | 1,163 | 1,163 | 283 | 910 | |||||||||||||||||||||||||
Consumer | 6 | 6 | 6 | 2 | |||||||||||||||||||||||||
Total | 6,339 | 6,339 | 855 | 7,459 | 130 | ||||||||||||||||||||||||
Commercial | 5,169 | 5,169 | 327 | 7,590 | 124 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 7,137 | 7,137 | 239 | 5,381 | 192 | ||||||||||||||||||||||||
Residential | 1,522 | 1,522 | 283 | 1,681 | |||||||||||||||||||||||||
Consumer | 6 | 6 | 6 | 2 | |||||||||||||||||||||||||
Total | $ | 13,834 | $ | 13,834 | $ | 855 | $ | 14,654 | $ | 316 | |||||||||||||||||||
This Quarter | Year to Date | ||||||||||||||||||||||||||||
30-Sep-12 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 4,953 | $ | 4,953 | $ | 5,267 | $ | 100 | $ | 4,679 | $ | 132 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 862 | 862 | 1,002 | 25 | 1,004 | 103 | |||||||||||||||||||||||
Residential | 539 | 539 | 716 | 760 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,354 | 6,354 | 6,985 | 125 | 6,443 | 235 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,528 | 1,528 | $ | 396 | 1,617 | 10 | 2,818 | 55 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,800 | 3,800 | 108 | 3,758 | 97 | 3,745 | 161 | ||||||||||||||||||||||
Residential | 1,058 | 1,058 | 259 | 1,189 | 781 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,386 | 6,386 | 763 | 6,564 | 107 | 7,344 | 216 | ||||||||||||||||||||||
Commercial | 6,481 | 6,481 | 396 | 6,884 | 110 | 7,497 | 187 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 4,662 | 4,662 | 108 | 4,760 | 122 | 4,749 | 264 | ||||||||||||||||||||||
Residential | 1,597 | 1,597 | 259 | 1,905 | 1,541 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 12,740 | $ | 12,740 | $ | 763 | $ | 13,549 | $ | 232 | $ | 13,787 | $ | 451 | |||||||||||||||
Included in the commercial loan and commercial real estate categories are troubled debt restructurings that are classified as impaired. Troubled debt restructured loans are loans with original terms, interest rate, or both, that have been modified as a result of a deterioration in the borrower's financial condition for which concessions have been granted. Â From time to time, the Company has modified loans and not accounted for them as troubled debt restructurings. Â Given the current economic environment, especially with respect to interest rates, there have been instances where a good customer has come in to renegotiate for a more favorable rate or one more in line with market rates. Â Given these and similar circumstances the Company has made modifications to keep the relationship. Â In such cases, these are not accounted for or reported as a troubled debt restructured loan as there was no deterioration in the borrower's condition. Â Trouble debt restructurings totaled $3,693 at September 30, 2013, $3,787 at December 31, 2012 and $3,817 at September 30, 2012. | |||||||||||||||||||||||||||||
The Company offers a variety of modifications to borrowers. The modification categories offered can generally be described in the following categories: | |||||||||||||||||||||||||||||
· | Rate Modification - A modification in which the interest rate is changed. | ||||||||||||||||||||||||||||
· | Term Modification - A modification in which the maturity date, timing of payments or frequency of payments is changed. | ||||||||||||||||||||||||||||
· | Interest Only Modification - A modification in which the loan is converted to interest only payments for a period of time. | ||||||||||||||||||||||||||||
· | Payment Modification - A modification in which the dollar amount of the payment is changed, other than an interest only modification described above. | ||||||||||||||||||||||||||||
· | Combination Modification - Any other type of modification, including the use of multiple categories above. | ||||||||||||||||||||||||||||
Information concerning trouble debt restructurings by major loan category at September 30, 2013 and December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | Number of Contracts | Accrual Status | Nonaccrual Status | Total Modifications | |||||||||||||||||||||||||
Commercial | 2 | $ | 2,074 | $ | 2,074 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,619 | 1,619 | |||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 3 | $ | 1,619 | $ | 2,074 | $ | 3,693 | ||||||||||||||||||||||
31-Dec-12 | Number of Contracts | Accrual Status | Nonaccrual Status | Total Modifications | |||||||||||||||||||||||||
Commercial | 2 | $ | 2,146 | $ | 2,146 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,641 | 1,641 | |||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 3 | $ | 1,641 | $ | 2,146 | $ | 3,787 | ||||||||||||||||||||||
There were no new troubled debt restructurings that occurred during the nine months ended September 30, 2013 and 2012. Â There were no defaults of loans considered troubled debt restructurings for the nine months ended September 30, 2013 and 2012. Â There were no charge-offs as a result of the troubled debt restructurings. |
Stockbased_compensation
Stock-based compensation | 9 Months Ended | |
Sep. 30, 2013 | ||
Stock-based compensation [Abstract] | ' | |
Stock-based compensation | ' | |
6 | Stock-based compensation: | |
As of September 30, 2013, all stock options were fully vested and there are no unrecognized compensation costs related to stock options. Â There were no stock options granted during the three and nine month periods ending September 30, 2013 and 2012. |
Offbalance_sheet_financial_ins
Off-balance sheet financial instruments | 9 Months Ended | |
Sep. 30, 2013 | ||
Off-balance sheet financial instruments [Abstract] | ' | |
Off-balance sheet financial instruments | ' | |
7 | Off-balance sheet financial instruments: | |
The Company does not issue any guarantees that would require liability recognition or disclosure, other than standby letters of credit. Â Outstanding letters of credit written are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Â The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for standby letters of credit is represented by the contractual amount of those instruments. Â The Company had $14,100 of standby letters of credit at September 30, 2013. Â The Company uses the same credit policies in making conditional obligations as it does for on-balance sheet instruments. | ||
The majority of these standby letters of credit expire within the next twelve months. Â The credit risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. Â The Company requires collateral supporting these letters of credit as deemed necessary. Â The maximum undiscounted exposure related to these commitments at September 30, 2013 was $14,100 and the approximate value of underlying collateral upon liquidation, that would be expected to cover this maximum potential exposure, was $13,078. |
Fair_value_estimates
Fair value estimates | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair value estimates [Abstract] | ' | ||||||||||||||||||||
Fair value estimates | ' | ||||||||||||||||||||
8 | Fair value estimates: | ||||||||||||||||||||
Fair value estimates are based on quoted market prices, if available, quoted market prices of similar assets or liabilities, or the present value of expected future cash flows and other valuation techniques. These valuations are significantly affected by discount rates, cash flow assumptions, and risk assumptions used. Therefore, fair value estimates may not be substantiated by comparison to independent markets and are not intended to reflect the proceeds that may be realizable in an immediate settlement of the instruments. | |||||||||||||||||||||
Fair value is determined at one point in time and is not representative of future value. These amounts do not reflect the total value of a going concern organization. Management does not have the intention to dispose of a significant portion of its assets and liabilities and therefore, the unrealized gains or losses should not be interpreted as a forecast of future earnings and cash flows. | |||||||||||||||||||||
In accordance with GAAP, the Company groups its assets and liabilities generally measured at fair value into three levels based on market information or other fair value estimates in which the assets and liabilities are traded or valued and the reliability of the assumptions used to determine fair value. Â These levels include: | |||||||||||||||||||||
· | Level 1:  Unadjusted quoted prices of identical assets or liabilities in active markets that the entity has 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; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||
· | Level 3:  Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||||||
An asset or liability's placement in the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
The following is a discussion of assets and liabilities measured at fair value on a recurring basis and the valuation techniques applied: | |||||||||||||||||||||
Investment securities available-for-sale: The fair value of investment securities available-for-sale which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities' relationship to other similar securities. These securities are classified within Level 1 or 2 of the fair value hierarchy. Positions that are not traded in active markets for which valuations are generated using assumptions not observable in the market or management's best estimate are classified within Level 3 of the fair value hierarchy. The Company does not have any investment securities available-for-sale that it considers to be within Level 3 of the fair value hierarchy. | |||||||||||||||||||||
The Company may be required from time to time to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of the following individual assets: | |||||||||||||||||||||
Impaired loans: Impaired loans are carried at the lower of cost or the fair value of the collateral for collateral-dependent loans. Collateral may be in the form of real estate or business assets including equipment, inventory and accounts receivable. The use of independent appraisals, discounted cash flow models and management's best judgment are significant inputs in arriving at the fair value measure of the underlying collateral and impaired loans are therefore classified within Level 3 of the fair value hierarchy. | |||||||||||||||||||||
Other real estate owned: Other real estate owned is recorded at fair value less cost to sell at the time of acquisition establishing a new cost basis. Â Other real estate owned is carried at the lower of the investment in the assets or the fair value of the assets less estimated selling costs. The use of independent appraisals and management's best judgment are significant inputs in arriving at the fair value measure of the underlying collateral and therefore other real estate owned and repossessed assets are classified within Level 3 of the fair value hierarchy. | |||||||||||||||||||||
Assets and liabilities at fair value or a recurring and nonrecurring basis at September 30, 2013 and December 31, 2012, are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
30-Sep-13 | Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 31,316 | $ | 31,316 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||
Taxable | 17,103 | 17,103 | |||||||||||||||||||
Tax-exempt | 47,759 | 47,759 | |||||||||||||||||||
Corporate debt securities | 4,299 | 4,299 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 21,110 | 21,110 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 32,878 | 32,878 | |||||||||||||||||||
Common equity securities: | 551 | $ | 551 | ||||||||||||||||||
Total investment securities available-for-sale | $ | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Total recurring fair value measurements | $ | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 5,463 | $ | 5,463 | |||||||||||||||||
Other real estate owned | |||||||||||||||||||||
Total nonrecurring fair value measurements | $ | 5,463 | $ | 5,463 | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
31-Dec-12 | Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 32,931 | $ | 32,931 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||
Taxable | 18,694 | 18,694 | |||||||||||||||||||
Tax-exempt | 47,388 | 47,388 | |||||||||||||||||||
Corporate debt securities | 3,871 | 3,871 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 21,554 | 21,554 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 22,868 | 22,868 | |||||||||||||||||||
Common equity securities: | 474 | $ | 474 | ||||||||||||||||||
Total investment securities available-for-sale | $ | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Total recurring fair value measurements | $ | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 5,484 | $ | 5,484 | |||||||||||||||||
Other real estate owned | 2,003 | 2,003 | |||||||||||||||||||
Total nonrecurring fair value measurements | $ | 7,487 | $ | 7,487 | |||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
30-Sep-13 | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
(Weighted Average) | |||||||||||||||||||||
Impaired loans | $ | 5,463 | Appraisal of collateral | Appraisal adjustments | 0.0% to 25.0% (23.8%) | ||||||||||||||||
   | Liquidation expenses | 0.0% to 6.0% (5.0%) | |||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
31-Dec-12 | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
(Weighted Average) | |||||||||||||||||||||
Impaired loans | $ | 5,484 | Appraisal of collateral | Appraisal adjustments | 20.0% to 25.0% (24.6%) | ||||||||||||||||
   | Liquidation expenses | 6.0% to 10.0% (8.8%) | |||||||||||||||||||
Other real estate owned | $ | 2,003 | Appraisal of collateral | Appraisal adjustments | 20.0% to 25.0% (24.6%) | ||||||||||||||||
   | Liquidation expenses | 6.0% to 10.0% (8.8%) | |||||||||||||||||||
Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 Inputs which are not identifiable. | |||||||||||||||||||||
Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. Â The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. Â Higher downward adjustments are caused by adverse changes in the condition of the collateral, actual offers or sales contract received or age of the appraisal. | |||||||||||||||||||||
The carrying and fair values of the Company's financial instruments at September 30, 2013 and December 31, 2012, and their placement within the fair value hierarchy, are as follows: | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
30-Sep-13 | Carrying Value | Fair | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24,520 | $ | 24,520 | $ | 24,520 | |||||||||||||||
Investment securities available-for-sale | 155,016 | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Loans held for sale | 3,616 | 3,616 | 3,616 | ||||||||||||||||||
Net loans | 498,274 | 504,668 | $ | 504,668 | |||||||||||||||||
Accrued interest receivable | 3,395 | 3,395 | 3,395 | ||||||||||||||||||
Restricted equity securities | 1,002 | 1,002 | $ | 1,002 | |||||||||||||||||
$ | 685,823 | $ | 692,217 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 621,800 | $ | 624,294 | $ | 624,294 | |||||||||||||||
Short-term borrowings | 17,854 | 17,854 | 17,854 | ||||||||||||||||||
Long-term debt | 2,507 | 2,599 | 2,599 | ||||||||||||||||||
Accrued interest payable | 219 | 219 | $ | 219 | |||||||||||||||||
$ | 642,380 | $ | 644,966 | ||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
31-Dec-12 | Carrying Value | Fair Value | Quoted Prices in Active Markets for Identical Assets (level 1) | Significant | Significant Unobservable Inputs | ||||||||||||||||
Other | (Level 3) | ||||||||||||||||||||
Observable Inputs | |||||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 28,083 | $ | 28,083 | $ | 28,083 | |||||||||||||||
Investment securities available-for-sale | 147,780 | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Loans held for sale | 1,917 | 1,917 | 1,917 | ||||||||||||||||||
Net loans | 459,192 | 466,166 | $ | 466,166 | |||||||||||||||||
Accrued interest receivable | 3,272 | 3,272 | 3,272 | ||||||||||||||||||
Restricted equity securities | 1,972 | 1,972 | $ | 1,972 | |||||||||||||||||
Total | $ | 642,216 | $ | 649,190 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 574,311 | $ | 578,628 | $ | 578,628 | |||||||||||||||
Short-term borrowings | 12,764 | 12,764 | 12,764 | ||||||||||||||||||
Long-term debt | 13,130 | 13,354 | 13,354 | ||||||||||||||||||
Accrued interest payable | 425 | 425 | $ | 425 | |||||||||||||||||
Total | $ | 600,630 | $ | 605,171 | |||||||||||||||||
The following methods and assumptions were used to measure the fair value of certain assets and liabilities carried at cost on the Company's consolidated balance sheets: | |||||||||||||||||||||
Cash and cash equivalents: The carrying amount for cash and cash equivalents is a reasonable estimate of fair value. | |||||||||||||||||||||
Investment securities available-for-sale: Â The fair values of marketable equity securities are based on quoted market prices from active exchange markets. Â The fair values of debt securities are based on pricing from a matrix pricing model. | |||||||||||||||||||||
Loans held for sale: Â The fair values of loans held for sale are based upon current delivery prices in the secondary mortgage market. | |||||||||||||||||||||
Net loans: Fair values for loans are estimated using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans with similar terms, the credit risk associated with the loan and market factors, including liquidity. The valuation of the loan portfolio reflects discounts that the Company believes are consistent with transactions occurring in the marketplace for both performing and distressed loan types. The carrying value that fair value is compared to is net of the allowance for loan losses and other associated premiums and discounts. | |||||||||||||||||||||
Accrued interest receivable: The carrying amount of accrued interest receivable approximates its fair value. | |||||||||||||||||||||
Restricted equity securities: The carrying amount of restricted equity securities approximates fair value. | |||||||||||||||||||||
Deposits: The carrying amount is considered a reasonable estimate of fair value for demand, savings and other variable rate deposit accounts. The fair value of fixed maturity certificates of deposit is estimated by a discounted cash flow method using the rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Short-term borrowings: The carrying amount of short-term borrowings approximates fair value. | |||||||||||||||||||||
Long-term debt: The fair value of fixed-rate long-term debt is based on the present value of future cash flows. The discount rate used is the current rates offered for long-term debt with the same maturity. | |||||||||||||||||||||
Accrued interest payable: The carrying amount of accrued interest payable approximates its fair value. | |||||||||||||||||||||
Off-balance sheet financial instruments: Off-balance sheet financial instruments consist of commitments to extend credit including letters of credit. Fair values for commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counterparties. The estimated fair value of the commitments to extend credit and letters of credit are insignificant and therefore are not presented in the above table. |
Investment_securities_availabl1
Investment securities available-for-sale (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investment securities available-for-sale [Abstract] | ' | ||||||||||||||||||||||||
Amortized cost and fair value of available-for-sale securities aggregated by investment category | ' | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities available-for-sale aggregated by investment category at September 30, 2013 and December 31, 2012 are summarized as follows: | |||||||||||||||||||||||||
30-Sep-13 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair | |||||||||||||||||||||
Value | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 29,147 | $ | 2,169 | $ | 31,316 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,139 | 967 | $ | 3 | 17,103 | ||||||||||||||||||||
Tax-exempt | 47,263 | 880 | 384 | 47,759 | |||||||||||||||||||||
Corporate debt securities | 4,034 | 265 | 4,299 | ||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 21,144 | 156 | 190 | 21,110 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 32,720 | 256 | 98 | 32,878 | |||||||||||||||||||||
Common equity securities | 487 | 85 | 21 | 551 | |||||||||||||||||||||
Total | $ | 150,934 | $ | 4,778 | $ | 696 | $ | 155,016 | |||||||||||||||||
31-Dec-12 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair | |||||||||||||||||||||
Value | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 29,375 | $ | 3,556 | $ | 32,931 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,611 | 2,083 | 18,694 | ||||||||||||||||||||||
Tax-exempt | 45,480 | 2,035 | $ | 127 | 47,388 | ||||||||||||||||||||
Corporate debt securities | 4,038 | 139 | 306 | 3,871 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 21,532 | 173 | 151 | 21,554 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 22,868 | 129 | 129 | 22,868 | |||||||||||||||||||||
Common equity securities | 488 | 17 | 31 | 474 | |||||||||||||||||||||
Total | $ | 140,392 | $ | 8,132 | $ | 744 | $ | 147,780 | |||||||||||||||||
Maturity distribution of debt securities classified as available-for-sale | ' | ||||||||||||||||||||||||
The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at September 30, 2013, is summarized as follows: | |||||||||||||||||||||||||
30-Sep-13 | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Within one year | $ | 1,518 | |||||||||||||||||||||||
After one but within five years | 38,096 | ||||||||||||||||||||||||
After five but within ten years | 30,045 | ||||||||||||||||||||||||
After ten years | 30,818 | ||||||||||||||||||||||||
100,477 | |||||||||||||||||||||||||
Mortgage-backed securities | 53,988 | ||||||||||||||||||||||||
Total | $ | 154,465 | |||||||||||||||||||||||
Fair value and unrealized losses of investment securities in continuous unrealized loss position | ' | ||||||||||||||||||||||||
The fair value and gross unrealized losses of investment securities available-for-sale with unrealized losses for which an other-than-temporary impairment ("OTTI") has not been recognized at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
30-Sep-13 | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
U.S. Government-sponsored enterprises | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | $ | 497 | $ | 3 | $ | 497 | $ | 3 | |||||||||||||||||
Tax-Exempt | 13,828 | 384 | 13,828 | 384 | |||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 9,753 | 190 | 9,753 | 190 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 6,579 | 12 | $ | 3,086 | $ | 86 | 9,665 | 98 | |||||||||||||||||
Common equity securities | 116 | 21 | 116 | 21 | |||||||||||||||||||||
Total | $ | 30,657 | $ | 589 | $ | 3,202 | $ | 107 | $ | 33,859 | $ | 696 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-12 | Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||||||||
Value | Value | Value | |||||||||||||||||||||||
U.S. Government-sponsored enterprises | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 12,483 | $ | 127 | $ | 12,483 | $ | 127 | |||||||||||||||||
Corporate debt securities | $ | 2,705 | $ | 306 | 2,705 | 306 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 11,934 | 146 | 838 | 5 | 12,772 | 151 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 9,042 | 83 | 4,229 | 46 | 13,271 | 129 | |||||||||||||||||||
Common equity securities | 106 | 31 | 106 | 31 | |||||||||||||||||||||
Total | $ | 33,459 | $ | 356 | $ | 7,878 | $ | 388 | $ | 41,337 | $ | 744 |
Loans_net_and_allowance_for_lo1
Loans, net and allowance for loan losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Loans, net and allowance for loan losses [Abstract] | ' | ||||||||||||||||||||||||||||
Major classifications of loans outstanding | ' | ||||||||||||||||||||||||||||
The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2013 and December 31, 2012 are summarized as follows. Net deferred loan costs were $679 at September 30, 2013, and $589 at December 31, 2012. | |||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||
Commercial | $ | 187,462 | $ | 170,379 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 181,557 | 158,798 | |||||||||||||||||||||||||||
Residential | 117,796 | 117,527 | |||||||||||||||||||||||||||
Consumer | 18,294 | 19,069 | |||||||||||||||||||||||||||
Total | $ | 505,109 | $ | 465,773 | |||||||||||||||||||||||||
Changes in the allowance for loan losses account by major classification of loan | ' | ||||||||||||||||||||||||||||
The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2013 and 2012 are summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2013 | $ | 2,711 | $ | 2,831 | $ | 886 | $ | 176 | $ | 131 | $ | 6,735 | |||||||||||||||||
Charge-offs | (46 | ) | (24 | ) | (70 | ) | |||||||||||||||||||||||
Recoveries | (2 | ) | (2 | ) | 9 | 5 | |||||||||||||||||||||||
Provisions | 18 | (1 | ) | 65 | 16 | 67 | 165 | ||||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2013 | $ | 2,024 | $ | 2,101 | $ | 1,206 | $ | 234 | $ | 1,016 | $ | 6,581 | |||||||||||||||||
Charge-offs | (46 | ) | (58 | ) | (187 | ) | (53 | ) | (344 | ) | |||||||||||||||||||
Recoveries | 2 | 77 | 24 | 103 | |||||||||||||||||||||||||
Provisions | 701 | 787 | (147 | ) | (28 | ) | (818 | ) | 495 | ||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, July 1, 2012 | $ | 2,117 | $ | 1,970 | $ | 819 | $ | 197 | $ | 813 | $ | 5,916 | |||||||||||||||||
Charge-offs | (12 | ) | (90 | ) | (102 | ) | |||||||||||||||||||||||
Recoveries | 1 | 152 | 153 | ||||||||||||||||||||||||||
Provisions | (10 | ) | 21 | 137 | (68 | ) | 250 | 330 | |||||||||||||||||||||
Ending balance | $ | 2,096 | $ | 1,991 | $ | 956 | $ | 191 | $ | 1,063 | $ | 6,297 | |||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance, January 1, 2012 | $ | 2,047 | $ | 1,515 | $ | 761 | $ | 198 | $ | 828 | $ | 5,349 | |||||||||||||||||
Charge-offs | (219 | ) | (100 | ) | (21 | ) | (267 | ) | (607 | ) | |||||||||||||||||||
Recoveries | 2 | 188 | 190 | ||||||||||||||||||||||||||
Provisions | 266 | 576 | 216 | 72 | 235 | 1,365 | |||||||||||||||||||||||
Ending balance | $ | 2,096 | $ | 1,991 | $ | 956 | $ | 191 | $ | 1,063 | $ | 6,297 | |||||||||||||||||
The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2013 and December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September  30, 2013 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,681 | $ | 2,830 | $ | 949 | $ | 177 | $ | 198 | $ | 6,835 | |||||||||||||||||
Ending balance: individually evaluated for impairment | 386 | 424 | 297 | 1,107 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,295 | $ | 2,406 | $ | 652 | $ | 177 | $ | 198 | $ | 5,728 | |||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 187,462 | $ | 181,557 | $ | 117,796 | $ | 18,294 | $ | 505,109 | |||||||||||||||||||
Ending balance: individually evaluated  for impairment | 3,275 | 13,388 | 1,891 | 18,554 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 184,187 | $ | 168,169 | $ | 115,905 | $ | 18,294 | $ | 486,555 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,024 | $ | 2,101 | $ | 1,206 | $ | 234 | $ | 1,016 | $ | 6,581 | |||||||||||||||||
Ending balance: individually evaluated for impairment | 327 | 239 | 283 | 6 | 855 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,697 | $ | 1,862 | $ | 923 | $ | 228 | $ | 1,016 | $ | 5,726 | |||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 170,379 | $ | 158,798 | $ | 117,527 | $ | 19,069 | $ | 465,773 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 5,169 | 7,137 | 1,522 | 6 | 13,834 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 165,210 | $ | 151,661 | $ | 116,005 | $ | 19,063 | $ | 451,939 | |||||||||||||||||||
Major classifications of the loan portfolio summarized by credit quality | ' | ||||||||||||||||||||||||||||
The following tables present the major classifications of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||
30-Sep-13 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 179,054 | $ | 5,186 | $ | 815 | $ | 2,407 | $ | 187,462 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 165,829 | 3,960 | 8,029 | 3,739 | 181,557 | ||||||||||||||||||||||||
Residential | 115,557 | 348 | 227 | 1,664 | 117,796 | ||||||||||||||||||||||||
Consumer | 18,278 | 16 | 18,294 | ||||||||||||||||||||||||||
Total | $ | 478,718 | $ | 9,510 | $ | 9,071 | $ | 7,810 | $ | 505,109 | |||||||||||||||||||
31-Dec-12 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 161,236 | $ | 5,752 | $ | 1,113 | $ | 2,278 | $ | 170,379 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 146,205 | 5,302 | 3,120 | 4,171 | 158,798 | ||||||||||||||||||||||||
Residential | 116,042 | 1,485 | 117,527 | ||||||||||||||||||||||||||
Consumer | 19,058 | 11 | 19,069 | ||||||||||||||||||||||||||
Total | $ | 442,541 | $ | 11,065 | $ | 4,233 | $ | 7,934 | $ | 465,773 | |||||||||||||||||||
Information concerning nonaccrual loans by major loan category | ' | ||||||||||||||||||||||||||||
Information concerning nonaccrual loans by major loan category at September 30, 2013 and December 31, 2012, is as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||
Commercial | $ | 2,407 | $ | 2,278 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,739 | 4,171 | |||||||||||||||||||||||||||
Residential | 1,664 | 1,485 | |||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 7,810 | $ | 7,934 | |||||||||||||||||||||||||
Major categories of the loan portfolio by past due status | ' | ||||||||||||||||||||||||||||
The major categories of the loan portfolio by past due status at September 30, 2013 and December 31, 2012, are summarized as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total Past Due | Current | Total Loans | Loans > 90 Days and Accruing | ||||||||||||||||||||||
Commercial | $ | 272 | $ | 3 | $ | 2,254 | $ | 2,529 | $ | 184,933 | $ | 187,462 | $ | 53 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,041 | 1,540 | 429 | 3,010 | 178,547 | 181,557 | |||||||||||||||||||||||
Residential | 1,138 | 231 | 1,177 | 2,546 | 115,250 | 117,796 | |||||||||||||||||||||||
Consumer | 341 | 152 | 444 | 937 | 17,357 | 18,294 | 444 | ||||||||||||||||||||||
Total | $ | 2,792 | $ | 1,926 | $ | 4,304 | $ | 9,022 | $ | 496,087 | $ | 505,109 | $ | 497 | |||||||||||||||
31-Dec-12 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days | Total Past Due | Current | Total Loans | Loans > 90 Days and Accruing | ||||||||||||||||||||||
Commercial | $ | 883 | $ | 255 | $ | 324 | $ | 1,462 | $ | 168,917 | $ | 170,379 | $ | 324 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 2,268 | 245 | 22 | 2,535 | 156,263 | 158,798 | 22 | ||||||||||||||||||||||
Residential | 1,528 | 21 | 1,549 | 115,978 | 117,527 | 21 | |||||||||||||||||||||||
Consumer | 411 | 192 | 494 | 1,097 | 17,972 | 19,069 | 494 | ||||||||||||||||||||||
Total | $ | 5,090 | $ | 692 | $ | 861 | $ | 6,643 | $ | 459,130 | $ | 465,773 | $ | 861 | |||||||||||||||
Summarized information in regards to impaired loans | ' | ||||||||||||||||||||||||||||
The following tables summarize information in regards to impaired loans as of and for the three and nine months ended September 30, 2013 and 2012, and as of and for the year ended December 31, 2012, by loan portfolio class: | |||||||||||||||||||||||||||||
This Quarter | Year to Date | ||||||||||||||||||||||||||||
30-Sep-13 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 755 | $ | 755 | $ | 1,076 | $ | 17 | $ | 1,167 | $ | 59 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 10,133 | 10,133 | 11,148 | 63 | 7,884 | 146 | |||||||||||||||||||||||
Residential | 1,096 | 1,096 | 1,201 | 2 | 983 | 5 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 11,984 | 11,984 | 13,425 | 82 | 10,034 | 210 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,520 | 2,520 | $ | 386 | 2,505 | 1 | 2,661 | 1 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,255 | 3,255 | 424 | 3,300 | 53 | 3,312 | 112 | ||||||||||||||||||||||
Residential | 795 | 795 | 297 | 737 | 5 | 933 | 5 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,570 | 6,570 | 1,107 | 6,542 | 59 | 6,906 | 118 | ||||||||||||||||||||||
Commercial | 3,275 | 3,275 | 386 | 3,581 | 18 | 3,828 | 60 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 13,388 | 13,388 | 424 | 14,448 | 116 | 11,196 | 258 | ||||||||||||||||||||||
Residential | 1,891 | 1,891 | 297 | 1,938 | 7 | 1,916 | 10 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 18,554 | $ | 18,554 | $ | 1,107 | $ | 19,967 | $ | 141 | $ | 16,940 | $ | 328 | |||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
31-Dec-12 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 3,782 | $ | 3,782 | $ | 4,792 | $ | 114 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,354 | 3,354 | 1,632 | 72 | |||||||||||||||||||||||||
Residential | 359 | 359 | 771 | ||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 7,495 | 7,495 | 7,195 | 186 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,387 | 1,387 | $ | 327 | 2,798 | 10 | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,783 | 3,783 | 239 | 3,749 | 120 | ||||||||||||||||||||||||
Residential | 1,163 | 1,163 | 283 | 910 | |||||||||||||||||||||||||
Consumer | 6 | 6 | 6 | 2 | |||||||||||||||||||||||||
Total | 6,339 | 6,339 | 855 | 7,459 | 130 | ||||||||||||||||||||||||
Commercial | 5,169 | 5,169 | 327 | 7,590 | 124 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 7,137 | 7,137 | 239 | 5,381 | 192 | ||||||||||||||||||||||||
Residential | 1,522 | 1,522 | 283 | 1,681 | |||||||||||||||||||||||||
Consumer | 6 | 6 | 6 | 2 | |||||||||||||||||||||||||
Total | $ | 13,834 | $ | 13,834 | $ | 855 | $ | 14,654 | $ | 316 | |||||||||||||||||||
This Quarter | Year to Date | ||||||||||||||||||||||||||||
30-Sep-12 | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 4,953 | $ | 4,953 | $ | 5,267 | $ | 100 | $ | 4,679 | $ | 132 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 862 | 862 | 1,002 | 25 | 1,004 | 103 | |||||||||||||||||||||||
Residential | 539 | 539 | 716 | 760 | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,354 | 6,354 | 6,985 | 125 | 6,443 | 235 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,528 | 1,528 | $ | 396 | 1,617 | 10 | 2,818 | 55 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,800 | 3,800 | 108 | 3,758 | 97 | 3,745 | 161 | ||||||||||||||||||||||
Residential | 1,058 | 1,058 | 259 | 1,189 | 781 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 6,386 | 6,386 | 763 | 6,564 | 107 | 7,344 | 216 | ||||||||||||||||||||||
Commercial | 6,481 | 6,481 | 396 | 6,884 | 110 | 7,497 | 187 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 4,662 | 4,662 | 108 | 4,760 | 122 | 4,749 | 264 | ||||||||||||||||||||||
Residential | 1,597 | 1,597 | 259 | 1,905 | 1,541 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | 12,740 | $ | 12,740 | $ | 763 | $ | 13,549 | $ | 232 | $ | 13,787 | $ | 451 | |||||||||||||||
Trouble debt restructurings by major loan category | ' | ||||||||||||||||||||||||||||
Information concerning trouble debt restructurings by major loan category at September 30, 2013 and December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | Number of Contracts | Accrual Status | Nonaccrual Status | Total Modifications | |||||||||||||||||||||||||
Commercial | 2 | $ | 2,074 | $ | 2,074 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,619 | 1,619 | |||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 3 | $ | 1,619 | $ | 2,074 | $ | 3,693 | ||||||||||||||||||||||
31-Dec-12 | Number of Contracts | Accrual Status | Nonaccrual Status | Total Modifications | |||||||||||||||||||||||||
Commercial | 2 | $ | 2,146 | $ | 2,146 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,641 | 1,641 | |||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 3 | $ | 1,641 | $ | 2,146 | $ | 3,787 |
Fair_value_estimates_Tables
Fair value estimates (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair value estimates [Abstract] | ' | ||||||||||||||||||||
Assets and liabilities at fair value or a recurring and nonrecurring basis | ' | ||||||||||||||||||||
Assets and liabilities at fair value or a recurring and nonrecurring basis at September 30, 2013 and December 31, 2012, are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
30-Sep-13 | Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 31,316 | $ | 31,316 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||
Taxable | 17,103 | 17,103 | |||||||||||||||||||
Tax-exempt | 47,759 | 47,759 | |||||||||||||||||||
Corporate debt securities | 4,299 | 4,299 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 21,110 | 21,110 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 32,878 | 32,878 | |||||||||||||||||||
Common equity securities: | 551 | $ | 551 | ||||||||||||||||||
Total investment securities available-for-sale | $ | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Total recurring fair value measurements | $ | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 5,463 | $ | 5,463 | |||||||||||||||||
Other real estate owned | |||||||||||||||||||||
Total nonrecurring fair value measurements | $ | 5,463 | $ | 5,463 | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
31-Dec-12 | Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 32,931 | $ | 32,931 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||
Taxable | 18,694 | 18,694 | |||||||||||||||||||
Tax-exempt | 47,388 | 47,388 | |||||||||||||||||||
Corporate debt securities | 3,871 | 3,871 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 21,554 | 21,554 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 22,868 | 22,868 | |||||||||||||||||||
Common equity securities: | 474 | $ | 474 | ||||||||||||||||||
Total investment securities available-for-sale | $ | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Total recurring fair value measurements | $ | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||||||
Impaired loans | $ | 5,484 | $ | 5,484 | |||||||||||||||||
Other real estate owned | 2,003 | 2,003 | |||||||||||||||||||
Total nonrecurring fair value measurements | $ | 7,487 | $ | 7,487 | |||||||||||||||||
Additional quantitative information about assets measured at fair value on a nonrecurring basis | ' | ||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
30-Sep-13 | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
(Weighted Average) | |||||||||||||||||||||
Impaired loans | $ | 5,463 | Appraisal of collateral | Appraisal adjustments | 0.0% to 25.0% (23.8%) | ||||||||||||||||
   | Liquidation expenses | 0.0% to 6.0% (5.0%) | |||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
31-Dec-12 | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
(Weighted Average) | |||||||||||||||||||||
Impaired loans | $ | 5,484 | Appraisal of collateral | Appraisal adjustments | 20.0% to 25.0% (24.6%) | ||||||||||||||||
   | Liquidation expenses | 6.0% to 10.0% (8.8%) | |||||||||||||||||||
Other real estate owned | $ | 2,003 | Appraisal of collateral | Appraisal adjustments | 20.0% to 25.0% (24.6%) | ||||||||||||||||
   | Liquidation expenses | 6.0% to 10.0% (8.8%) | |||||||||||||||||||
Carrying and fair values of the financial instruments | ' | ||||||||||||||||||||
The carrying and fair values of the Company's financial instruments at September 30, 2013 and December 31, 2012, and their placement within the fair value hierarchy, are as follows: | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
30-Sep-13 | Carrying Value | Fair | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||||
Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24,520 | $ | 24,520 | $ | 24,520 | |||||||||||||||
Investment securities available-for-sale | 155,016 | 155,016 | $ | 551 | $ | 154,465 | |||||||||||||||
Loans held for sale | 3,616 | 3,616 | 3,616 | ||||||||||||||||||
Net loans | 498,274 | 504,668 | $ | 504,668 | |||||||||||||||||
Accrued interest receivable | 3,395 | 3,395 | 3,395 | ||||||||||||||||||
Restricted equity securities | 1,002 | 1,002 | $ | 1,002 | |||||||||||||||||
$ | 685,823 | $ | 692,217 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 621,800 | $ | 624,294 | $ | 624,294 | |||||||||||||||
Short-term borrowings | 17,854 | 17,854 | 17,854 | ||||||||||||||||||
Long-term debt | 2,507 | 2,599 | 2,599 | ||||||||||||||||||
Accrued interest payable | 219 | 219 | $ | 219 | |||||||||||||||||
$ | 642,380 | $ | 644,966 | ||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
31-Dec-12 | Carrying Value | Fair Value | Quoted Prices in Active Markets for Identical Assets (level 1) | Significant | Significant Unobservable Inputs | ||||||||||||||||
Other | (Level 3) | ||||||||||||||||||||
Observable Inputs | |||||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 28,083 | $ | 28,083 | $ | 28,083 | |||||||||||||||
Investment securities available-for-sale | 147,780 | 147,780 | $ | 474 | $ | 147,306 | |||||||||||||||
Loans held for sale | 1,917 | 1,917 | 1,917 | ||||||||||||||||||
Net loans | 459,192 | 466,166 | $ | 466,166 | |||||||||||||||||
Accrued interest receivable | 3,272 | 3,272 | 3,272 | ||||||||||||||||||
Restricted equity securities | 1,972 | 1,972 | $ | 1,972 | |||||||||||||||||
Total | $ | 642,216 | $ | 649,190 | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 574,311 | $ | 578,628 | $ | 578,628 | |||||||||||||||
Short-term borrowings | 12,764 | 12,764 | 12,764 | ||||||||||||||||||
Long-term debt | 13,130 | 13,354 | 13,354 | ||||||||||||||||||
Accrued interest payable | 425 | 425 | $ | 425 | |||||||||||||||||
Total | $ | 600,630 | $ | 605,171 | |||||||||||||||||
Earnings_per_share_Details
Earnings per share (Details) (Stock Options [Member]) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Stock options excluded from computation of earnings per share (in shares) | 2,878 | 2,878 | 5,800 | 5,800 |
Investment_securities_availabl2
Investment securities available-for-sale (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Security | Security | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $150,934 | $140,392 |
Gross Unrealized Gains | 4,778 | 8,132 |
Gross Unrealized Losses | 696 | 744 |
Fair Value | 155,016 | 147,780 |
Maturity distribution of debt securities classified as available-for-sale [Abstract] | ' | ' |
Within one year | 1,518 | ' |
After one but within five years | 38,096 | ' |
After five but within ten years | 30,045 | ' |
After ten years | 30,818 | ' |
Total debt securities with maturity date | 100,477 | ' |
Mortgage-backed securities | 53,988 | ' |
Total | 154,465 | ' |
Carrying value of securities pledged | 103,457 | 89,699 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
Less than 12 Months, Fair Value | 30,657 | 33,459 |
12 Months or More, Fair Value | 3,202 | 7,878 |
Total, Fair Value | 33,859 | 41,337 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
Less than 12 Months, Unrealized Losses | 589 | 356 |
12 Months or More, Unrealized Losses | 107 | 388 |
Total, Unrealized Losses | 696 | 744 |
Number of investment securities held | 49 | 59 |
U.S. Government-sponsored enterprises [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 29,147 | 29,375 |
Gross Unrealized Gains | 2,169 | 3,556 |
Fair Value | 31,316 | 32,931 |
Maturity distribution of debt securities classified as available-for-sale [Abstract] | ' | ' |
Maximum percentage of stockholders' equity exceeded for securities of any individual issuer (in hundredths) | 10.00% | 10.00% |
State and municipals, Taxable [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 16,139 | 16,611 |
Gross Unrealized Gains | 967 | 2,083 |
Gross Unrealized Losses | 3 | ' |
Fair Value | 17,103 | 18,694 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
Less than 12 Months, Fair Value | 497 | ' |
Total, Fair Value | 497 | ' |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
Less than 12 Months, Unrealized Losses | 3 | ' |
Total, Unrealized Losses | 3 | ' |
Number of investment securities held | 1 | ' |
State and municipals, Tax-exempt [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 47,263 | 45,480 |
Gross Unrealized Gains | 880 | 2,035 |
Gross Unrealized Losses | 384 | 127 |
Fair Value | 47,759 | 47,388 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
Less than 12 Months, Fair Value | 13,828 | 12,483 |
Total, Fair Value | 13,828 | 12,483 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
Less than 12 Months, Unrealized Losses | 384 | 127 |
Total, Unrealized Losses | 384 | 127 |
Number of investment securities held | 37 | 36 |
Corporate debt securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,034 | 4,038 |
Gross Unrealized Gains | 265 | 139 |
Gross Unrealized Losses | ' | 306 |
Fair Value | 4,299 | 3,871 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
12 Months or More, Fair Value | ' | 2,705 |
Total, Fair Value | ' | 2,705 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
12 Months or More, Unrealized Losses | ' | 306 |
Total, Unrealized Losses | ' | 306 |
Number of investment securities held | ' | 2 |
Number of securities in continuous unrealized loss position 12 months or longer | ' | 1 |
Mortgage-backed securities, U.S. Government agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 21,144 | 21,532 |
Gross Unrealized Gains | 156 | 173 |
Gross Unrealized Losses | 190 | 151 |
Fair Value | 21,110 | 21,554 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
Less than 12 Months, Fair Value | 9,753 | 11,934 |
12 Months or More, Fair Value | ' | 838 |
Total, Fair Value | 9,753 | 12,772 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
Less than 12 Months, Unrealized Losses | 190 | 146 |
12 Months or More, Unrealized Losses | ' | 5 |
Total, Unrealized Losses | 190 | 151 |
Number of investment securities held | 9 | 19 |
Number of securities in continuous unrealized loss position 12 months or longer | 2 | 7 |
Mortgage-backed securities, U.S. Government-sponsored enterprises [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 32,720 | 22,868 |
Gross Unrealized Gains | 256 | 129 |
Gross Unrealized Losses | 98 | 129 |
Fair Value | 32,878 | 22,868 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
Less than 12 Months, Fair Value | 6,579 | 9,042 |
12 Months or More, Fair Value | 3,086 | 4,229 |
Total, Fair Value | 9,665 | 13,271 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
Less than 12 Months, Unrealized Losses | 12 | 83 |
12 Months or More, Unrealized Losses | 86 | 46 |
Total, Unrealized Losses | 98 | 129 |
Equity securities, Common [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 487 | 488 |
Gross Unrealized Gains | 85 | 17 |
Gross Unrealized Losses | 21 | 31 |
Fair Value | 551 | 474 |
Investment securities available-for-sale in a continuous unrealized loss position, fair value [Abstract] | ' | ' |
12 Months or More, Fair Value | 116 | 106 |
Total, Fair Value | 116 | 106 |
Investment securities available-for-sale in a continuous unrealized loss position, unrealized losses [Abstract] | ' | ' |
12 Months or More, Unrealized Losses | 21 | 31 |
Total, Unrealized Losses | $21 | $31 |
Number of investment securities held | 2 | 2 |
Number of securities in continuous unrealized loss position 12 months or longer | 2 | 1 |
Loans_net_and_allowance_for_lo2
Loans, net and allowance for loan losses (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans, net and allowance for loan losses [Abstract] | ' | ' |
Deferred loan origination fees and costs | $679 | $589 |
Loans_net_and_allowance_for_lo3
Loans, net and allowance for loan losses, Major Classification of Loans Outstanding (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Major classifications of loans outstanding, net of deferred loan origination fees and costs [Abstract] | ' | ' |
Loans, net | $505,109 | $465,773 |
Commercial [Member] | ' | ' |
Major classifications of loans outstanding, net of deferred loan origination fees and costs [Abstract] | ' | ' |
Loans, net | 187,462 | 170,379 |
Real Estate Commercial [Member] | ' | ' |
Major classifications of loans outstanding, net of deferred loan origination fees and costs [Abstract] | ' | ' |
Loans, net | 181,557 | 158,798 |
Real Estate Residential [Member] | ' | ' |
Major classifications of loans outstanding, net of deferred loan origination fees and costs [Abstract] | ' | ' |
Loans, net | 117,796 | 117,527 |
Consumer [Member] | ' | ' |
Major classifications of loans outstanding, net of deferred loan origination fees and costs [Abstract] | ' | ' |
Loans, net | $18,294 | $19,069 |
Loans_net_and_allowance_for_lo4
Loans, net and allowance for loan losses, Changes in the Allowance for Loan Losses Account by Major Classification of Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | $6,735 | $5,916 | $6,581 | $5,349 | ' |
Charge-offs | -70 | -102 | -344 | -607 | ' |
Recoveries | 5 | 153 | 103 | 190 | ' |
Provisions | 165 | 330 | 495 | 1,365 | ' |
Ending balance | 6,835 | 6,297 | 6,835 | 6,297 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 6,835 | 6,297 | 6,835 | 6,297 | ' |
Ending balance: individually evaluated for impairment | 1,107 | ' | 1,107 | ' | 855 |
Ending balance: collectively evaluated for impairment | 5,728 | ' | 5,728 | ' | 5,726 |
Loans receivable [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 505,109 | ' | 505,109 | ' | 465,773 |
Ending balance: individually evaluated for impairment | 18,554 | ' | 18,554 | ' | 13,834 |
Ending balance: collectively evaluated for impairment | 486,555 | ' | 486,555 | ' | 451,939 |
Commercial [Member] | ' | ' | ' | ' | ' |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 2,711 | 2,117 | 2,024 | 2,047 | ' |
Charge-offs | -46 | -12 | -46 | -219 | ' |
Recoveries | -2 | 1 | 2 | 2 | ' |
Provisions | 18 | -10 | 701 | 266 | ' |
Ending balance | 2,681 | 2,096 | 2,681 | 2,096 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 2,681 | 2,096 | 2,681 | 2,096 | ' |
Ending balance: individually evaluated for impairment | 386 | ' | 386 | ' | 327 |
Ending balance: collectively evaluated for impairment | 2,295 | ' | 2,295 | ' | 1,697 |
Loans receivable [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 187,462 | ' | 187,462 | ' | 170,379 |
Ending balance: individually evaluated for impairment | 3,275 | ' | 3,275 | ' | 5,169 |
Ending balance: collectively evaluated for impairment | 184,187 | ' | 184,187 | ' | 165,210 |
Real Estate Commercial [Member] | ' | ' | ' | ' | ' |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 2,831 | 1,970 | 2,101 | 1,515 | ' |
Charge-offs | ' | ' | -58 | -100 | ' |
Provisions | -1 | 21 | 787 | 576 | ' |
Ending balance | 2,830 | 1,991 | 2,830 | 1,991 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 2,830 | 1,991 | 2,830 | 1,991 | ' |
Ending balance: individually evaluated for impairment | 424 | ' | 424 | ' | 239 |
Ending balance: collectively evaluated for impairment | 2,406 | ' | 2,406 | ' | 1,862 |
Loans receivable [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 181,557 | ' | 181,557 | ' | 158,798 |
Ending balance: individually evaluated for impairment | 13,388 | ' | 13,388 | ' | 7,137 |
Ending balance: collectively evaluated for impairment | 168,169 | ' | 168,169 | ' | 151,661 |
Real Estate Residential [Member] | ' | ' | ' | ' | ' |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 886 | 819 | 1,206 | 761 | ' |
Charge-offs | ' | ' | -187 | -21 | ' |
Recoveries | -2 | ' | 77 | ' | ' |
Provisions | 65 | 137 | -147 | 216 | ' |
Ending balance | 949 | 956 | 949 | 956 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 949 | 956 | 949 | 956 | ' |
Ending balance: individually evaluated for impairment | 297 | ' | 297 | ' | 283 |
Ending balance: collectively evaluated for impairment | 652 | ' | 652 | ' | 923 |
Loans receivable [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 117,796 | ' | 117,796 | ' | 117,527 |
Ending balance: individually evaluated for impairment | 1,891 | ' | 1,891 | ' | 1,522 |
Ending balance: collectively evaluated for impairment | 115,905 | ' | 115,905 | ' | 116,005 |
Consumer [Member] | ' | ' | ' | ' | ' |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 176 | 197 | 234 | 198 | ' |
Charge-offs | -24 | -90 | -53 | -267 | ' |
Recoveries | 9 | 152 | 24 | 188 | ' |
Provisions | 16 | -68 | -28 | 72 | ' |
Ending balance | 177 | 191 | 177 | 191 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 177 | 191 | 177 | 191 | ' |
Ending balance: individually evaluated for impairment | ' | ' | ' | ' | 6 |
Ending balance: collectively evaluated for impairment | 177 | ' | 177 | ' | 228 |
Loans receivable [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 18,294 | ' | 18,294 | ' | 19,069 |
Ending balance: individually evaluated for impairment | ' | ' | ' | ' | 6 |
Ending balance: collectively evaluated for impairment | 18,294 | ' | 18,294 | ' | 19,063 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Changes in the allowance for loan losses account by major classification of loan [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 131 | 813 | 1,016 | 828 | ' |
Provisions | 67 | 250 | -818 | 235 | ' |
Ending balance | 198 | 1,063 | 198 | 1,063 | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Ending balance | 198 | 1,063 | 198 | 1,063 | ' |
Ending balance: collectively evaluated for impairment | $198 | ' | $198 | ' | $1,016 |
Loans_net_and_allowance_for_lo5
Loans, net and allowance for loan losses, Major Classification of the Loans Portfolio Summerized by Internal Risk Rating System (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | $505,109 | $465,773 |
Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 187,462 | 170,379 |
Real Estate Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 181,557 | 158,798 |
Real Estate Residential [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 117,796 | 117,527 |
Consumer [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 18,294 | 19,069 |
Pass [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 478,718 | 442,541 |
Pass [Member] | Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 179,054 | 161,236 |
Pass [Member] | Real Estate Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 165,829 | 146,205 |
Pass [Member] | Real Estate Residential [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 115,557 | 116,042 |
Pass [Member] | Consumer [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 18,278 | 19,058 |
Special Mention [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 9,510 | 11,065 |
Special Mention [Member] | Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 5,186 | 5,752 |
Special Mention [Member] | Real Estate Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 3,960 | 5,302 |
Special Mention [Member] | Real Estate Residential [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 348 | ' |
Special Mention [Member] | Consumer [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 16 | 11 |
Substandard [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 9,071 | 4,233 |
Substandard [Member] | Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 815 | 1,113 |
Substandard [Member] | Real Estate Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 8,029 | 3,120 |
Substandard [Member] | Real Estate Residential [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 227 | ' |
Doubtful [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 7,810 | 7,934 |
Doubtful [Member] | Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 2,407 | 2,278 |
Doubtful [Member] | Real Estate Commercial [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | 3,739 | 4,171 |
Doubtful [Member] | Real Estate Residential [Member] | ' | ' |
Major classifications of the loan portfolio summarized by credit quality [Abstract] | ' | ' |
Loans, net | $1,664 | $1,485 |
Loans_net_and_allowance_for_lo6
Loans, net and allowance for loan losses, Nonaccrual Loans by Major Loan Category (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Information concerning nonaccrual loans by major loan category [Abstract] | ' | ' |
Nonaccrual loans, Total | $7,810 | $7,934 |
Major categories of the loan portfolio by past due status [Abstract] | ' | ' |
30-59 Days Past Due | 2,792 | 5,090 |
60-89 Days Past Due | 1,926 | 692 |
Greater than 90 Days | 4,304 | 861 |
Total Past Due | 9,022 | 6,643 |
Current | 496,087 | 459,130 |
Total | 505,109 | 465,773 |
Loans > 90 Days and Accruing | 497 | 861 |
Commercial [Member] | ' | ' |
Information concerning nonaccrual loans by major loan category [Abstract] | ' | ' |
Nonaccrual loans, Total | 2,407 | 2,278 |
Major categories of the loan portfolio by past due status [Abstract] | ' | ' |
30-59 Days Past Due | 272 | 883 |
60-89 Days Past Due | 3 | 255 |
Greater than 90 Days | 2,254 | 324 |
Total Past Due | 2,529 | 1,462 |
Current | 184,933 | 168,917 |
Total | 187,462 | 170,379 |
Loans > 90 Days and Accruing | 53 | 324 |
Real Estate Commercial [Member] | ' | ' |
Information concerning nonaccrual loans by major loan category [Abstract] | ' | ' |
Nonaccrual loans, Total | 3,739 | 4,171 |
Major categories of the loan portfolio by past due status [Abstract] | ' | ' |
30-59 Days Past Due | 1,041 | 2,268 |
60-89 Days Past Due | 1,540 | 245 |
Greater than 90 Days | 429 | 22 |
Total Past Due | 3,010 | 2,535 |
Current | 178,547 | 156,263 |
Total | 181,557 | 158,798 |
Loans > 90 Days and Accruing | ' | 22 |
Real Estate Residential [Member] | ' | ' |
Information concerning nonaccrual loans by major loan category [Abstract] | ' | ' |
Nonaccrual loans, Total | 1,664 | 1,485 |
Major categories of the loan portfolio by past due status [Abstract] | ' | ' |
30-59 Days Past Due | 1,138 | 1,528 |
60-89 Days Past Due | 231 | ' |
Greater than 90 Days | 1,177 | 21 |
Total Past Due | 2,546 | 1,549 |
Current | 115,250 | 115,978 |
Total | 117,796 | 117,527 |
Loans > 90 Days and Accruing | ' | 21 |
Consumer [Member] | ' | ' |
Major categories of the loan portfolio by past due status [Abstract] | ' | ' |
30-59 Days Past Due | 341 | 411 |
60-89 Days Past Due | 152 | 192 |
Greater than 90 Days | 444 | 494 |
Total Past Due | 937 | 1,097 |
Current | 17,357 | 17,972 |
Total | 18,294 | 19,069 |
Loans > 90 Days and Accruing | $444 | $494 |
Loans_net_and_allowance_for_lo7
Loans, net and allowance for loan losses, Impaired Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Contract | Contract | Contract | |||
Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | $11,984 | $6,354 | $11,984 | $6,354 | $7,495 |
With an allowance recorded, Total | 6,570 | 6,386 | 6,570 | 6,386 | 6,339 |
Total | 18,554 | 12,740 | 18,554 | 12,740 | 13,834 |
Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 11,984 | 6,354 | 11,984 | 6,354 | 7,495 |
With an allowance recorded, Total | 6,570 | 6,386 | 6,570 | 6,386 | 6,339 |
Total | 18,554 | 12,740 | 18,554 | 12,740 | 13,834 |
Related Allowance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | 1,107 | 763 | 1,107 | 763 | 855 |
Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 13,425 | 6,985 | 10,034 | 6,443 | 7,195 |
With an allowance recorded, Total | 6,542 | 6,564 | 6,906 | 7,344 | 7,459 |
Total | 19,967 | 13,549 | 16,940 | 13,787 | 14,654 |
Interest Income Recognized [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 82 | 125 | 210 | 235 | 186 |
With an allowance recorded, Total | 59 | 107 | 118 | 216 | 130 |
Total | 141 | 232 | 328 | 451 | 316 |
Information concerning trouble debt restructurings by major loan category [Abstract] | ' | ' | ' | ' | ' |
Number of Contracts | 3 | ' | 3 | ' | 3 |
Accrual Status | 1,619 | ' | 1,619 | ' | 1,641 |
Nonaccrual Status | 2,074 | ' | 2,074 | ' | 2,146 |
Total Modifications | 3,693 | 3,817 | 3,693 | 3,817 | 3,787 |
Commercial [Member] | ' | ' | ' | ' | ' |
Information concerning trouble debt restructurings by major loan category [Abstract] | ' | ' | ' | ' | ' |
Number of Contracts | 2 | ' | 2 | ' | 2 |
Nonaccrual Status | 2,074 | ' | 2,074 | ' | 2,146 |
Total Modifications | 2,074 | ' | 2,074 | ' | 2,146 |
Real Estate Commercial [Member] | ' | ' | ' | ' | ' |
Information concerning trouble debt restructurings by major loan category [Abstract] | ' | ' | ' | ' | ' |
Number of Contracts | 1 | ' | 1 | ' | 1 |
Accrual Status | 1,619 | ' | 1,619 | ' | 1,641 |
Total Modifications | 1,619 | ' | 1,619 | ' | 1,641 |
Commercial [Member] | ' | ' | ' | ' | ' |
Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 755 | 4,953 | 755 | 4,953 | 3,782 |
With an allowance recorded, Total | 2,520 | 1,528 | 2,520 | 1,528 | 1,387 |
Total | 3,275 | 6,481 | 3,275 | 6,481 | 5,169 |
Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 755 | 4,953 | 755 | 4,953 | 3,782 |
With an allowance recorded, Total | 2,520 | 1,528 | 2,520 | 1,528 | 1,387 |
Total | 3,275 | 6,481 | 3,275 | 6,481 | 5,169 |
Related Allowance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | 386 | 396 | 386 | 396 | 327 |
Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 1,076 | 5,267 | 1,167 | 4,679 | 4,792 |
With an allowance recorded, Total | 2,505 | 1,617 | 2,661 | 2,818 | 2,798 |
Total | 3,581 | 6,884 | 3,828 | 7,497 | 7,590 |
Interest Income Recognized [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 17 | 100 | 59 | 132 | 114 |
With an allowance recorded, Total | 1 | 10 | 1 | 55 | 10 |
Total | 18 | 110 | 60 | 187 | 124 |
Real Estate Commercial [Member] | ' | ' | ' | ' | ' |
Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 10,133 | 862 | 10,133 | 862 | 3,354 |
With an allowance recorded, Total | 3,255 | 3,800 | 3,255 | 3,800 | 3,783 |
Total | 13,388 | 4,662 | 13,388 | 4,662 | 7,137 |
Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 10,133 | 862 | 10,133 | 862 | 3,354 |
With an allowance recorded, Total | 3,255 | 3,800 | 3,255 | 3,800 | 3,783 |
Total | 13,388 | 4,662 | 13,388 | 4,662 | 7,137 |
Related Allowance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | 424 | 108 | 424 | 108 | 239 |
Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 11,148 | 1,002 | 7,884 | 1,004 | 1,632 |
With an allowance recorded, Total | 3,300 | 3,758 | 3,312 | 3,745 | 3,749 |
Total | 14,448 | 4,760 | 11,196 | 4,749 | 5,381 |
Interest Income Recognized [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 63 | 25 | 146 | 103 | 72 |
With an allowance recorded, Total | 53 | 97 | 112 | 161 | 120 |
Total | 116 | 122 | 258 | 264 | 192 |
Real Estate Residential [Member] | ' | ' | ' | ' | ' |
Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 1,096 | 539 | 1,096 | 539 | 359 |
With an allowance recorded, Total | 795 | 1,058 | 795 | 1,058 | 1,163 |
Total | 1,891 | 1,597 | 1,891 | 1,597 | 1,522 |
Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 1,096 | 539 | 1,096 | 539 | 359 |
With an allowance recorded, Total | 795 | 1,058 | 795 | 1,058 | 1,163 |
Total | 1,891 | 1,597 | 1,891 | 1,597 | 1,522 |
Related Allowance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | 297 | 259 | 297 | 259 | 283 |
Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 1,201 | 716 | 983 | 760 | 771 |
With an allowance recorded, Total | 737 | 1,189 | 933 | 781 | 910 |
Total | 1,938 | 1,905 | 1,916 | 1,541 | 1,681 |
Interest Income Recognized [Abstract] | ' | ' | ' | ' | ' |
With no related allowance, Total | 2 | ' | 5 | ' | ' |
With an allowance recorded, Total | 5 | ' | 5 | ' | ' |
Total | 7 | ' | 10 | ' | ' |
Consumer [Member] | ' | ' | ' | ' | ' |
Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | ' | ' | ' | ' | 6 |
Total | ' | ' | ' | ' | 6 |
Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | ' | ' | ' | ' | 6 |
Total | ' | ' | ' | ' | 6 |
Related Allowance [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | ' | ' | ' | ' | 6 |
Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
With an allowance recorded, Total | ' | ' | ' | ' | 2 |
Total | ' | ' | ' | ' | $2 |
Loans_net_and_allowance_for_lo8
Loans, net and allowance for loan losses, Troubled Debt Restructurings By Major Loan Category (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Loan | Loan | |
Loans, net and allowance for loan losses [Abstract] | ' | ' |
Amount of defaults on loans considered troubled debt restructurings | $0 | $0 |
Number of loans modified as troubled debt restructurings | 0 | 0 |
Amount of charge-offs as a result of the troubled debt restructurings | $0 | $0 |
Offbalance_sheet_financial_ins1
Off-balance sheet financial instruments (Details) (Financial Standby Letter of Credit [Member], USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Financial Standby Letter of Credit [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Maximum undiscounted exposure related to outstanding letters of credit | $14,100 |
Collateral, fair value | $13,078 |
Fair_value_estimates_Details
Fair value estimates (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mortgage-backed securities: [Abstract] | ' | ' |
Total investment securities available-for-sale | $155,016 | $147,780 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Mortgage-backed securities: [Abstract] | ' | ' |
Total investment securities available-for-sale | 551 | 474 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Mortgage-backed securities: [Abstract] | ' | ' |
Total investment securities available-for-sale | 154,465 | 147,306 |
Recurring fair value measurements [Member] | ' | ' |
Investment securities available-for-sale [Abstract] | ' | ' |
U.S. Government-sponsored enterprises | 31,316 | 32,931 |
State and municipals: [Abstract] | ' | ' |
Taxable | 17,103 | 18,694 |
Tax-exempt | 47,759 | 47,388 |
Corporate debt securities | 4,299 | 3,871 |
Mortgage-backed securities: [Abstract] | ' | ' |
U.S. Government agencies | 21,110 | 21,554 |
U.S. Government-sponsored enterprises | 32,878 | 22,868 |
Common equity securities | 551 | 474 |
Total investment securities available-for-sale | 155,016 | 147,780 |
Total recurring fair value measurements | 155,016 | 147,780 |
Recurring fair value measurements [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Mortgage-backed securities: [Abstract] | ' | ' |
Common equity securities | 551 | 474 |
Total investment securities available-for-sale | 551 | 474 |
Total recurring fair value measurements | 551 | 474 |
Recurring fair value measurements [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Investment securities available-for-sale [Abstract] | ' | ' |
U.S. Government-sponsored enterprises | 31,316 | 32,931 |
State and municipals: [Abstract] | ' | ' |
Taxable | 17,103 | 18,694 |
Tax-exempt | 47,759 | 47,388 |
Corporate debt securities | 4,299 | 3,871 |
Mortgage-backed securities: [Abstract] | ' | ' |
U.S. Government agencies | 21,110 | 21,554 |
U.S. Government-sponsored enterprises | 32,878 | 22,868 |
Total investment securities available-for-sale | 154,465 | 147,306 |
Total recurring fair value measurements | 154,465 | 147,306 |
Nonrecurring fair value measurements [Member] | ' | ' |
Mortgage-backed securities: [Abstract] | ' | ' |
Impaired loans | 5,463 | 5,484 |
Other real estate owned | ' | 2,003 |
Total nonrecurring fair value measurements | 5,463 | 7,487 |
Nonrecurring fair value measurements [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Mortgage-backed securities: [Abstract] | ' | ' |
Impaired loans | 5,463 | 5,484 |
Other real estate owned | ' | 2,003 |
Total nonrecurring fair value measurements | $5,463 | $7,487 |
Fair_value_estimates_Quantitat
Fair value estimates, Quantitative Information (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired loans [Member] | Maximum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | 25.00% | 25.00% |
Range and weighted average of liquidation expenses (in hundredths) | 6.00% | 10.00% |
Impaired loans [Member] | Minimum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | 0.00% | 20.00% |
Range and weighted average of liquidation expenses (in hundredths) | 0.00% | 6.00% |
Impaired loans [Member] | Weighted Average [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | 23.80% | 24.60% |
Range and weighted average of liquidation expenses (in hundredths) | 5.00% | 8.80% |
Impaired loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Assets, Fair Value Estimate | 5,463 | 5,484 |
Valuation Technique | 'Appraisal of collateral | 'Appraisal of collateral |
Unobservable Input | 'Appraisal adjustments | 'Appraisal adjustments |
Other real estate owned [Member] | Maximum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | ' | 25.00% |
Range and weighted average of liquidation expenses (in hundredths) | ' | 10.00% |
Other real estate owned [Member] | Minimum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | ' | 20.00% |
Range and weighted average of liquidation expenses (in hundredths) | ' | 6.00% |
Other real estate owned [Member] | Weighted Average [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments (in hundredths) | ' | 24.60% |
Range and weighted average of liquidation expenses (in hundredths) | ' | 8.80% |
Other real estate owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Assets, Fair Value Estimate | ' | 2,003 |
Valuation Technique | ' | 'Appraisal of collateral |
Unobservable Input | ' | 'Appraisal adjustments |
Fair_value_estimates_by_Balanc
Fair value estimates, by Balance Sheet Grouping (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial assets [Abstract] | ' | ' |
Investment securities available-for-sale | $155,016 | $147,780 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and cash equivalents | 24,520 | 28,083 |
Investment securities available-for-sale | 551 | 474 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Investment securities available-for-sale | 154,465 | 147,306 |
Loans held for sale | 3,616 | 1,917 |
Accrued interest receivable | 3,395 | 3,272 |
Restricted equity securities | 1,002 | 1,972 |
Financial liabilities [Abstract] | ' | ' |
Deposits | 624,294 | 578,628 |
Short-term borrowings | 17,854 | 12,764 |
Long-term debt | 2,599 | 13,354 |
Accrued interest payable | 219 | 425 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Net loans | 504,668 | 466,166 |
Carrying Value [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and cash equivalents | 24,520 | 28,083 |
Investment securities available-for-sale | 155,016 | 147,780 |
Loans held for sale | 3,616 | 1,917 |
Net loans | 498,274 | 459,192 |
Accrued interest receivable | 3,395 | 3,272 |
Restricted equity securities | 1,002 | 1,972 |
Assets, Fair Value Disclosure | 685,823 | 642,216 |
Financial liabilities [Abstract] | ' | ' |
Deposits | 621,800 | 574,311 |
Short-term borrowings | 17,854 | 12,764 |
Long-term debt | 2,507 | 13,130 |
Accrued interest payable | 219 | 425 |
Liabilities, total | 642,380 | 600,630 |
Fair Value [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and cash equivalents | 24,520 | 28,083 |
Investment securities available-for-sale | 155,016 | 147,780 |
Loans held for sale | 3,616 | 1,917 |
Net loans | 504,668 | 466,166 |
Accrued interest receivable | 3,395 | 3,272 |
Restricted equity securities | 1,002 | 1,972 |
Assets, Fair Value Disclosure | 692,217 | 649,190 |
Financial liabilities [Abstract] | ' | ' |
Deposits | 624,294 | 578,628 |
Short-term borrowings | 17,854 | 12,764 |
Long-term debt | 2,599 | 13,354 |
Accrued interest payable | 219 | 425 |
Liabilities, total | $644,966 | $605,171 |