Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'PFIS | ' |
Entity Registrant Name | 'PEOPLES FINANCIAL SERVICES CORP. | ' |
Entity Central Index Key | '0001056943 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 7,548,358 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $21,179 | $30,004 |
Interest-bearing deposits in other banks | 6,932 | 11,846 |
Federal funds sold | 6,100 | 9,460 |
Investment securities: | ' | ' |
Available-for-sale | 350,825 | 299,715 |
Held-to-maturity: Fair value September 30, 2014, $15,516; December 31, 2013, $17,175 | 15,264 | 17,295 |
Total investment securities | 366,089 | 317,010 |
Loans held for sale | 2,961 | 1,757 |
Loans, net | 1,179,942 | 1,176,617 |
Less: allowance for loan losses | 10,171 | 8,651 |
Net loans | 1,169,771 | 1,167,966 |
Premises and equipment, net | 25,692 | 26,119 |
Accrued interest receivable | 5,381 | 5,866 |
Goodwill | 63,370 | 63,370 |
Intangible assets | 5,826 | 6,835 |
Other assets | 51,477 | 47,988 |
Total assets | 1,724,778 | 1,688,221 |
Deposits: | ' | ' |
Noninterest-bearing | 302,279 | 279,942 |
Interest-bearing | 1,123,349 | 1,099,565 |
Total deposits | 1,425,628 | 1,379,507 |
Short-term borrowings | 6,514 | 22,052 |
Long-term debt | 34,020 | 36,743 |
Accrued interest payable | 597 | 723 |
Other liabilities | 11,950 | 10,404 |
Total liabilities | 1,478,709 | 1,449,429 |
Stockholders' equity: | ' | ' |
Common stock: par value $2.00, authorized 25,000,000 shares; September 30, 2014, issued 7,548,358 shares; December 31, 2013, issued 7,806,789 shares | 15,097 | 15,614 |
Capital surplus | 140,150 | 146,109 |
Retained earnings | 90,252 | 84,008 |
Accumulated other comprehensive income (loss) | 570 | -698 |
Less: treasury stock, at cost: December 31, 2013, 253,845 shares | ' | 6,241 |
Total stockholders' equity | 246,069 | 238,792 |
Total liabilities and stockholders' equity | $1,724,778 | $1,688,221 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Held-to-maturity, Fair value | $15,516 | $17,175 |
Common stock, par value | $2 | $2 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 7,548,358 | 7,806,789 |
Treasury stock, shares | ' | 253,845 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income and Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and fees on loans: | ' | ' | ' | ' |
Taxable | $13,876 | $7,213 | $41,035 | $21,819 |
Tax-exempt | 465 | 396 | 1,607 | 1,210 |
Interest and dividends on investment securities: | ' | ' | ' | ' |
Taxable | 1,007 | 386 | 2,877 | 1,239 |
Tax-exempt | 816 | 658 | 2,462 | 1,927 |
Dividends | 2 | 22 | 32 | 57 |
Interest on interest-bearing deposits in other banks | 10 | 18 | 29 | 68 |
Interest on federal funds sold | 16 | ' | 64 | ' |
Total interest income | 16,192 | 8,693 | 48,106 | 26,320 |
Interest expense: | ' | ' | ' | ' |
Interest on deposits | 1,354 | 647 | 4,125 | 1,968 |
Interest on short-term borrowings | 9 | 6 | 67 | 17 |
Interest on long-term debt | 279 | 299 | 864 | 961 |
Total interest expense | 1,642 | 952 | 5,056 | 2,946 |
Net interest income | 14,550 | 7,741 | 43,050 | 23,374 |
Provision for loan losses | 666 | 525 | 2,724 | 1,325 |
Net interest income after provision for loan losses | 13,884 | 7,216 | 40,326 | 22,049 |
Noninterest income: | ' | ' | ' | ' |
Service charges, fees and commissions | 1,634 | 1,006 | 4,815 | 3,426 |
Merchant services income | 1,002 | 1,174 | 2,784 | 3,123 |
Commission and fees on fiduciary activities | 575 | 487 | 1,690 | 1,281 |
Wealth management income | 217 | 130 | 569 | 320 |
Mortgage banking income | 142 | 80 | 434 | 246 |
Life insurance investment income | 109 | 117 | 565 | 356 |
Net gain on sale of investment securities available-for-sale | 701 | 33 | 861 | 158 |
Total noninterest income | 4,380 | 3,027 | 11,718 | 8,910 |
Noninterest expense: | ' | ' | ' | ' |
Salaries and employee benefits expense | 4,754 | 3,340 | 14,883 | 10,415 |
Net occupancy and equipment expense | 2,020 | 685 | 6,080 | 2,187 |
Merchant services expense | 662 | 740 | 1,722 | 1,947 |
Amortization of intangible assets | 334 | 55 | 1,010 | 175 |
Acquisition related expense | 109 | 220 | 1,725 | 225 |
Other expenses | 3,205 | 2,325 | 9,190 | 6,397 |
Total noninterest expense | 11,084 | 7,365 | 34,610 | 21,346 |
Income before income taxes | 7,180 | 2,878 | 17,434 | 9,613 |
Income tax expense | 1,944 | 392 | 4,169 | 1,762 |
Net income | 5,236 | 2,486 | 13,265 | 7,851 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available-for-sale | -825 | -20 | 2,811 | -3,240 |
Reclassification adjustment for net gain on sales included in net income | -701 | -33 | -861 | -158 |
Other comprehensive income (loss) | -1,526 | -53 | 1,950 | -3,398 |
Income tax expense (benefit) related to other comprehensive income (loss) | -534 | -18 | 682 | -1,155 |
Other comprehensive income (loss), net of income taxes | -992 | -35 | 1,268 | -2,243 |
Comprehensive income | $4,244 | $2,451 | $14,533 | $5,608 |
Net income: | ' | ' | ' | ' |
Basic | $0.70 | $0.56 | $1.76 | $1.76 |
Diluted | $0.70 | $0.56 | $1.76 | $1.76 |
Average common shares outstanding: | ' | ' | ' | ' |
Basic | 7,548,358 | 4,473,846 | 7,548,983 | 4,469,480 |
Diluted | 7,548,358 | 4,473,846 | 7,566,456 | 4,469,480 |
Dividends declared | $0.31 | $0.31 | $0.93 | $0.93 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | ||||||
Balance at Dec. 31, 2012 | $132,446 | $8,935 | $40,003 | $83,798 | ($290) | ' |
Net income | 7,851 | ' | ' | 7,851 | ' | ' |
Other comprehensive income (loss), net of income taxes | -2,243 | ' | ' | ' | -2,243 | ' |
Dividends declared | -4,132 | ' | ' | -4,132 | ' | ' |
Stock based compensation | 51 | ' | 51 | ' | ' | ' |
Balance at Sep. 30, 2013 | 133,973 | 8,935 | 40,054 | 87,517 | -2,533 | ' |
Balance at Dec. 31, 2013 | 238,792 | 15,614 | 146,109 | 84,008 | -698 | -6,241 |
Net income | 13,265 | ' | ' | 13,265 | ' | ' |
Other comprehensive income (loss), net of income taxes | 1,268 | ' | ' | ' | 1,268 | ' |
Dividends declared | -7,021 | ' | ' | -7,021 | ' | ' |
Shares retired | -109 | -7 | -102 | ' | ' | ' |
Stock based compensation | 11 | ' | ' | ' | ' | ' |
Reissuance under option plan | 39 | ' | 28 | ' | ' | 11 |
Repurchase and held | -70 | ' | ' | ' | ' | -70 |
Retirement of stock options | -95 | ' | -95 | ' | ' | ' |
Retirement of treasury shares | 6,300 | -510 | -5,790 | ' | ' | 6,300 |
Balance at Sep. 30, 2014 | $246,069 | $15,097 | $140,150 | $90,252 | $570 | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | ' |
Dividends declared | $0.93 |
Shares retired, shares | 3,386 |
Reissuance under option plan, shares | 600 |
Repurchase and held, shares | 1,800 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $13,265 | $7,851 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation of premises and equipment | 1,322 | 611 |
Amortization of deferred loan costs | 171 | ' |
Amortization of intangibles | 1,009 | ' |
Net accretion of purchase accounting adjustments on tangible assets | -2,683 | -210 |
Provision for loan losses | 2,724 | 1,325 |
Net gain on sale of other real estate owned | -60 | -57 |
Net loss on disposal of equipment | 63 | ' |
Net amortization of investment securities | 3,230 | 321 |
Net gain on sale of investment securities | -861 | -158 |
Life insurance investment income | -592 | -70 |
Deferred income tax expense (benefit) | ' | 83 |
Stock based compensation | 11 | 51 |
Net change in: | ' | ' |
Loans held for sale | -1,204 | ' |
Accrued interest receivable | 485 | 221 |
Other assets | -3,398 | 1,115 |
Accrued interest payable | -126 | -214 |
Other liabilities | 1,546 | 1,270 |
Net cash provided by operating activities | 14,902 | 12,139 |
Cash flows from investing activities: | ' | ' |
Proceeds from sales of investment securities available-for-sale | 15,389 | 15,298 |
Proceeds from repayments of investment securities: | ' | ' |
Available-for-sale | 32,022 | 3,718 |
Held-to-maturity | 1,989 | 4,637 |
Purchases of investment securities: | ' | ' |
Available-for-sale | -98,898 | -10,048 |
Held-to-maturity | ' | -6,874 |
Net increase in lending activities | -3,341 | -34,001 |
Proceeds from life insurance | ' | 1,227 |
Purchases of premises and equipment | -1,059 | -297 |
Proceeds from the sale of premises and equipment | 25 | ' |
Proceeds from sale of other real estate owned | 409 | 760 |
Net cash used in investing activities | -53,464 | -25,580 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 46,939 | 6,352 |
Repayment of long-term debt | -2,682 | -10,426 |
Net increase (decrease) in short-term borrowings | -15,538 | 2,125 |
Redemption of common stock | -70 | ' |
Retirement of stock options | -95 | ' |
Purchase of treasury stock | -70 | ' |
Cash dividends paid | -7,021 | -4,132 |
Net cash provided by (used in) financing activities | 21,463 | -6,081 |
Net increase (decrease) in cash and cash equivalents | -17,099 | -19,522 |
Cash and cash equivalents at beginning of year | 51,310 | 47,844 |
Cash and cash equivalents at end of year | 34,211 | 28,322 |
Cash paid during the period for: | ' | ' |
Interest | 5,182 | 3,160 |
Income taxes | 3,100 | 2,050 |
Noncash items: | ' | ' |
Transfers of loans to other real estate owned | 541 | ' |
Retirement of treasury shares | 6,300 | ' |
Fair value of assets acquired: | ' | ' |
Loans, net | 1,900 | ' |
Premises and equipment | -76 | ' |
Core deposit intangibles | -1,009 | ' |
Other assets | ' | ' |
Fair value of liabilities assumed: | ' | ' |
Deposits | 818 | ' |
FHLB advances | 41 | ' |
Other liabilities | ' | ' |
Non-cash activity resulting from the Penseco transaction: | ' | ' |
Transfers of loans to other real estate owned | 541 | ' |
Retirement of treasury shares | 6,300 | ' |
Fair value of assets acquired: | ' | ' |
Loans, net | 1,900 | ' |
Premises and equipment | -76 | ' |
Core deposit intangibles | -1,009 | ' |
Other assets | ' | ' |
Fair value of liabilities assumed: | ' | ' |
Deposits | 818 | ' |
FHLB advances | 41 | ' |
Other liabilities | ' | ' |
Summary_of_significant_account
Summary of significant accounting policies | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of significant accounting policies | ' |
1. Summary of significant accounting policies: | |
Nature of operations: | |
Peoples Financial Services Corp., a bank holding company incorporated under the laws of Pennsylvania, provides a range of financial services through its wholly-owned subsidiary, Peoples Security Bank and Trust Company (“Peoples Bank”), including its subsidiaries, Peoples Advisors, LLC and Penseco Realty, Inc. (collectively, the “Company” or “Peoples”). On November 30, 2013, Penseco Financial Services Corporation, a financial holding company incorporated under the laws of Pennsylvania (“Penseco”), merged with and into Peoples Financial Services Corp., with Peoples Financial Services Corp. being the surviving corporation (the “Merger”), pursuant to an Agreement and Plan of Merger dated June 28, 2013 (the “Merger Agreement”). In connection with the Merger, on December 1, 2013, Penseco’s former banking subsidiary, Penn Security Bank and Trust Company, merged with and into Peoples Neighborhood Bank (the “Bank Merger”), and the resulting institution adopted the name Peoples Security Bank and Trust Company. The Company services its retail and commercial customers through twenty-six full-service community banking offices located within the Lackawanna, Luzerne, Monroe, Susquehanna, Wayne and Wyoming Counties of Northeastern Pennsylvania and Broome County of New York. | |
Basis of presentation: | |
The aforementioned merger between the Company and Penseco was accounted for as a reverse acquisition whereby Penseco was treated as the acquirer for accounting and reporting purposes. As a result, the historical financial information prior to the merger date included in the Company’s consolidated financial statements and related notes as reported in this Form 10-Q is that of Penseco. The number of shares issued and outstanding and the amount of common stock and capital surplus in 2013 periods were retroactively adjusted to reflect the equivalent number of shares issued by the Company in the merger. | |
The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP’) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. 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 to the current year’s presentation. These reclassifications did not have any effect on the operating results or financial position of the Company. Certain disclosures related to impaired and nonaccrual loans have been revised for December 31, 2013. Such revisions were not material and had no effect on the operating results or financial position of the Company. The operating results and financial position of the Company for the nine months ended and as of September 30, 2014, are not necessarily indicative of the results of operations and financial position that may be expected in the future. | |
The preparation of consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, reference is made to the Company’s Annual Report on Form 10-K for the period ended December 31, 2013. | |
The Company has evaluated events and transactions occurring subsequent to the balance sheet date of September 30, 2014, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |
Recent accounting standards: | |
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-13, “Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity.” The amendments in this Update address the measurement mismatch that often results from the difference between the fair value of the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”). The ASU provides an option for measuring the financial assets and financial liabilities of a CFE to eliminate that difference under certain conditions. Under that option, a reporting entity should use the more observable of the fair value of the financial assets and the fair value of the financial liabilities of a CFE to measure both. If an entity does not elect the measurement alternative, it should continue applying the measurement guidance in Topic 820 to assets and liabilities that are carried at fair value in the financial statements. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2014-13 is not expected to have a material effect on the operating results or financial position of the Company. | |
In August 2014, the FASB issued ASU 2014-14, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” The amendments in this Update address a practice issue related to the classification of certain foreclosed residential and nonresidential mortgage loans that are either fully or partially guaranteed under government programs. Specifically, creditors should reclassify loans that meet certain conditions to other receivables upon foreclosure, rather than reclassifying them to other real estate owned. The separate other receivable recorded upon foreclosure is to be measured based on the amount of the loan balance, principal and interest, the creditor expects to recover from the guarantor. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of ASU 2014-14 is not expected to have a material effect on the operating results or financial position of the Company. |
Other_comprehensive_income_los
Other comprehensive income (loss) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Equity [Abstract] | ' | ||||||||
Other comprehensive income (loss) | ' | ||||||||
2. Other comprehensive income (loss): | |||||||||
The components of other comprehensive income (loss) and their related tax effects are reported in the Consolidated Statements of Income and Comprehensive Income. The accumulated other comprehensive income (loss) included in the Consolidated Balance Sheets relates to net unrealized gains and losses on investment securities available-for-sale and benefit plan adjustments. | |||||||||
The components of accumulated other comprehensive income (loss) included in stockholders’ equity at September 30, 2014 and December 31, 2013 is as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Net unrealized gain on investment securities available-for-sale | $ | 4,760 | $ | 2,810 | |||||
Related income taxes | (1,666 | ) | (984 | ) | |||||
Net of income taxes | 3,094 | 1,826 | |||||||
Benefit plan adjustments | (3,883 | ) | (3,883 | ) | |||||
Related income taxes | 1,359 | 1,359 | |||||||
Net of income taxes | (2,524 | ) | (2,524 | ) | |||||
Accumulated other comprehensive income (loss) | $ | 570 | $ | (698 | ) | ||||
Other comprehensive income (loss) and related tax effects for the three and nine months ended September 30, 2014 and 2013 is as follows: | |||||||||
Three months ended September 30 | 2014 | 2013 | |||||||
Unrealized gain (loss) on investment securities available-for-sale | $ | (825 | ) | $ | (20 | ) | |||
Net gain on the sale of investment securities available-for-sale (1) | (701 | ) | (33 | ) | |||||
Other comprehensive income (loss) gain before taxes | (1,526 | ) | (53 | ) | |||||
Income tax expense (benefit) | (534 | ) | (18 | ) | |||||
Other comprehensive income (loss) | $ | (992 | ) | $ | (35 | ) | |||
Nine months ended September 30 | 2014 | 2013 | |||||||
Unrealized gain (loss) on investment securities available-for-sale | $ | 2,811 | $ | (3,240 | ) | ||||
Net gain on the sale of investment securities available-for-sale (1) | (861 | ) | (158 | ) | |||||
Other comprehensive income (loss) gain before taxes | 1,950 | (3,398 | ) | ||||||
Income tax expense (benefit) | 682 | (1,155 | ) | ||||||
Other comprehensive income (loss) | $ | 1,268 | $ | (2,243 | ) | ||||
-1 | Amounts reclassified out of accumulated comprehensive income and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. |
Earnings_per_share
Earnings per share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
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. 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. Potential common shares that may be issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method. | |||||||||||||||||
There were no shares considered anti-dilutive for the three and nine month periods ended September 30, 2014 and 2013. | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
For the three months ended September 30 | Basic | Diluted | Basic | Diluted | |||||||||||||
Net Income (Numerator) | $ | 5,236 | $ | 5,236 | $ | 2,486 | $ | 2,486 | |||||||||
Average common shares outstanding (Denominator) | 7,548,358 | 7,548,358 | 4,473,846 | 4,473,846 | |||||||||||||
Earnings per share | $ | 0.7 | $ | 0.7 | $ | 0.56 | $ | 0.56 | |||||||||
2014 | 2013 | ||||||||||||||||
For the nine months ended September 30 | Basic | Diluted | Basic | Diluted | |||||||||||||
Net Income (Numerator) | $ | 13,265 | $ | 13,265 | $ | 7,851 | $ | 7,851 | |||||||||
Average common shares outstanding (Denominator) | 7,548,983 | 7,566,456 | 4,469,480 | 4,469,480 | |||||||||||||
Earnings per share | $ | 1.76 | $ | 1.76 | $ | 1.76 | $ | 1.76 |
Investment_securities
Investment securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment securities | ' | ||||||||||||||||||||||||
4. Investment securities: | |||||||||||||||||||||||||
The amortized cost and fair value of investment securities aggregated by investment category at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Amortized Cost | Gross | Gross | Fair | |||||||||||||||||||||
Unrealized | Unrealized | Value | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 48,357 | $ | 296 | $ | 48,061 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 101,294 | $ | 186 | 228 | 101,252 | ||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,534 | 727 | 25 | 17,236 | |||||||||||||||||||||
Tax-exempt | 89,340 | 4,782 | 16 | 94,106 | |||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 39,677 | 121 | 287 | 39,511 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 50,863 | 247 | 451 | 50,659 | |||||||||||||||||||||
Common equity securities | |||||||||||||||||||||||||
Total | $ | 346,065 | $ | 6,063 | $ | 1,303 | $ | 350,825 | |||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 7,370 | $ | 14 | $ | 207 | $ | 7,177 | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 104 | 2 | 106 | ||||||||||||||||||||||
U.S. Government-sponsored enterprises | 7,790 | 443 | 8,233 | ||||||||||||||||||||||
Total | $ | 15,264 | $ | 459 | $ | 207 | $ | 15,516 | |||||||||||||||||
December 31, 2013 | Amortized Cost | Gross | Gross | Fair | |||||||||||||||||||||
Unrealized | Unrealized | Value | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 113,221 | $ | 296 | 472 | 113,045 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,664 | 160 | 126 | 16,698 | |||||||||||||||||||||
Tax-exempt | 96,194 | 2,267 | 380 | 98,081 | |||||||||||||||||||||
Corporate debt securities | 4,433 | 32 | 78 | 4,387 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 20,386 | 113 | 66 | 20,433 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 45,251 | 763 | 40 | 45,974 | |||||||||||||||||||||
Common equity securities | 756 | 351 | 10 | 1,097 | |||||||||||||||||||||
Total | $ | 296,905 | $ | 3,982 | $ | 1,172 | $ | 299,715 | |||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 7,372 | $ | 11 | $ | 777 | $ | 6,606 | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 117 | 2 | 119 | ||||||||||||||||||||||
U.S. Government-sponsored enterprises | 9,806 | 644 | 10,450 | ||||||||||||||||||||||
Total | $ | 17,295 | $ | 657 | $ | 777 | $ | 17,175 | |||||||||||||||||
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, 2014, is summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Within one year | $ | 28,889 | |||||||||||||||||||||||
After one but within five years | 132,467 | ||||||||||||||||||||||||
After five but within ten years | 32,136 | ||||||||||||||||||||||||
After ten years | 67,163 | ||||||||||||||||||||||||
260,655 | |||||||||||||||||||||||||
Mortgage-backed securities | 90,170 | ||||||||||||||||||||||||
Total | $ | 350,825 | |||||||||||||||||||||||
The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at September 30, 2014, is summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Within one year | |||||||||||||||||||||||||
After one but within five years | $ | 325 | $ | 333 | |||||||||||||||||||||
After five but within ten years | 176 | 182 | |||||||||||||||||||||||
After ten years | 6,869 | 6,662 | |||||||||||||||||||||||
7,370 | 7,177 | ||||||||||||||||||||||||
Mortgage-backed securities | 7,894 | 8,339 | |||||||||||||||||||||||
Total | $ | 15,264 | $ | 15,516 | |||||||||||||||||||||
Securities with a carrying value of $215,113 and $202,407 at September 30, 2014 and December 31, 2013, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law. | |||||||||||||||||||||||||
Securities and short-term investment activities are conducted with a diverse group of government entities, corporations and state and local municipalities. The counterparty’s creditworthiness and type of collateral is evaluated on a case-by-case basis. At September 30, 2014 and December 31, 2013, there were no significant concentrations of credit risk from any one issuer, with the exception of U.S. Government agencies and sponsored enterprises, that exceeded 10.0 percent of stockholders’ equity. | |||||||||||||||||||||||||
The fair value and gross unrealized losses of investment securities with unrealized losses for which an other-than-temporary impairment (“OTTI”) has not been recognized at September 30, 2014 and December 31, 2013, 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 | |||||||||||||||||||||||
September 30, 2014 | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
U.S. Treasury securities | $ | 48,061 | $ | 296 | $ | 48,061 | $ | 296 | |||||||||||||||||
U.S. Government-sponsored enterprises | 32,649 | 74 | $ | 20,940 | $ | 154 | 53,589 | 228 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 1,599 | 25 | 1,599 | 25 | |||||||||||||||||||||
Tax-exempt | 8,417 | 35 | 4,776 | 188 | 13,193 | 223 | |||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 26,466 | 287 | 26,466 | 287 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 29,382 | 451 | 29,382 | 451 | |||||||||||||||||||||
Common equity securities | |||||||||||||||||||||||||
Total | $ | 146,574 | $ | 1,168 | $ | 25,716 | $ | 342 | $ | 172,290 | $ | 1,510 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2013 | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 66,391 | $ | 468 | $ | 3,114 | $ | 4 | $ | 69,505 | $ | 472 | |||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 10,621 | 126 | 10,621 | 126 | |||||||||||||||||||||
Tax-exempt | 36,471 | 1,157 | 36,471 | 1,157 | |||||||||||||||||||||
Corporate debt securities | 1,095 | 78 | 1,095 | 78 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 12,978 | 66 | 12,978 | 66 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 5,624 | 40 | 5,624 | 40 | |||||||||||||||||||||
Common equity securities | 137 | 10 | 137 | 10 | |||||||||||||||||||||
Total | $ | 133,317 | $ | 1,945 | $ | 3,114 | $ | 4 | $ | 136,431 | $ | 1,949 | |||||||||||||
The Company had 114 investment securities, consisting of 28 tax-exempt state and municipal obligations, two taxable state and municipal obligations, 26 U.S. Government-sponsored enterprise securities, 33 mortgage-backed securities, and 25 U.S. Treasury securities that were in unrealized loss positions at September 30, 2014. Of these securities, seven U.S. Government-sponsored enterprise securities and nine tax-exempt state and municipal securities were in a continuous unrealized loss position for twelve months or more. 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 does not consider the unrealized losses to be OTTI at September 30, 2014. There was no OTTI recognized for the nine months ended September 30, 2014 and 2013. | |||||||||||||||||||||||||
The Company had 153 investment securities, consisting of 79 tax-exempt state and municipal obligations, 16 taxable state and municipal obligations, 39 U.S. Government-sponsored enterprise securities, 16 mortgage-backed securities, one corporate debt security and two common equity securities that were in unrealized loss positions at December 31, 2013. Of these securities, one U.S. Government-sponsored enterprise security was in continuous unrealized loss position for twelve months or more. |
Loans_net_and_allowance_for_lo
Loans, net and allowance for loan losses | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [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, 2014 and December 31, 2013 are summarized as follows. Net deferred loan costs were $526 and $24 at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial | $ | 323,312 | $ | 350,680 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 456,153 | 413,058 | |||||||||||||||||||||||||||
Residential | 315,082 | 322,062 | |||||||||||||||||||||||||||
Consumer | 85,395 | 90,817 | |||||||||||||||||||||||||||
Total | $ | 1,179,942 | $ | 1,176,617 | |||||||||||||||||||||||||
The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2014 and 2013 are summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2014 | $ | 2,201 | $ | 2,675 | $ | 3,458 | $ | 1,288 | $ | 9,622 | |||||||||||||||||||
Charge-offs | (57 | ) | (56 | ) | (64 | ) | (177 | ) | |||||||||||||||||||||
Recoveries | 5 | 22 | 33 | 60 | |||||||||||||||||||||||||
Provisions | 152 | 185 | 239 | 90 | 666 | ||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2014 | $ | 2,008 | $ | 2,394 | $ | 3,135 | $ | 1,114 | $ | 8,651 | |||||||||||||||||||
Charge-offs | (376 | ) | (489 | ) | (566 | ) | (219 | ) | (1,650 | ) | |||||||||||||||||||
Recoveries | 6 | 291 | 38 | 111 | 446 | ||||||||||||||||||||||||
Provisions | 720 | 629 | 1,034 | 341 | 2,724 | ||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2013 | $ | 1,199 | $ | 2,304 | $ | 3,092 | $ | 957 | $ | 7,552 | |||||||||||||||||||
Charge-offs | (5 | ) | (168 | ) | (43 | ) | (216 | ) | |||||||||||||||||||||
Recoveries | 5 | 5 | 10 | ||||||||||||||||||||||||||
Provisions | 513 | (98 | ) | 110 | 525 | ||||||||||||||||||||||||
Ending balance | $ | 1,707 | $ | 2,304 | $ | 2,831 | $ | 1,029 | $ | 7,871 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2013 | $ | 799 | $ | 2,304 | $ | 2,981 | $ | 866 | $ | 6,950 | |||||||||||||||||||
Charge-offs | (5 | ) | (375 | ) | (160 | ) | (540 | ) | |||||||||||||||||||||
Recoveries | 111 | 25 | 136 | ||||||||||||||||||||||||||
Provisions | 913 | 114 | 298 | 1,325 | |||||||||||||||||||||||||
Ending balance | $ | 1,707 | $ | 2,304 | $ | 2,831 | $ | 1,029 | $ | 7,871 | |||||||||||||||||||
The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2014 and December 31, 2013 is summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 1,163 | 660 | 275 | 17 | 2,115 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,195 | 2,165 | 3,366 | 1,330 | 8,056 | ||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 323,312 | $ | 456,153 | $ | 315,082 | $ | 85,395 | $ | 1,179,942 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 2,721 | 7,799 | 3,318 | 81 | 13,919 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 319,179 | 446,985 | 311,703 | $ | 85,314 | 1,163,181 | |||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 1,412 | $ | 1,369 | $ | 61 | $ | 2,842 | |||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
December 31, 2013 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,008 | $ | 2,394 | $ | 3,135 | $ | 1,114 | $ | 8,651 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 1,500 | 300 | 224 | 2,024 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 508 | 2,094 | 2,911 | 1,114 | 6,627 | ||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 350,680 | $ | 413,058 | $ | 322,062 | $ | 90,817 | $ | 1,176,617 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 4,504 | 7,711 | 3,321 | 90 | 15,626 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 343,502 | 401,168 | 318,274 | $ | 90,727 | 1,153,671 | |||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 2,674 | $ | 4,179 | $ | 467 | $ | 7,320 | |||||||||||||||||||||
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 weaknesses 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 its continuance as bankable loan 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 affected in the future. | ||||||||||||||||||||||||||||
The following tables present the major classification of loans 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, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
September 30, 2014 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 311,685 | $ | 4,207 | $ | 7,420 | $ | 323,312 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 430,443 | 10,100 | 15,610 | 456,153 | |||||||||||||||||||||||||
Residential | 306,007 | 1,399 | 7,676 | 315,082 | |||||||||||||||||||||||||
Consumer | 85,324 | 14 | 57 | 85,395 | |||||||||||||||||||||||||
Total | $ | 1,133,459 | $ | 15,720 | $ | 30,763 | $ | 1,179,942 | |||||||||||||||||||||
December 31, 2013 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 332,257 | $ | 7,025 | $ | 11,398 | $ | 350,680 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 386,825 | 10,701 | 15,532 | 413,058 | |||||||||||||||||||||||||
Residential | 314,544 | 861 | 6,657 | 322,062 | |||||||||||||||||||||||||
Consumer | 90,718 | 9 | 90 | 90,817 | |||||||||||||||||||||||||
Total | $ | 1,124,344 | $ | 18,596 | $ | 33,677 | $ | 1,176,617 | |||||||||||||||||||||
Information concerning nonaccrual loans by major loan classification at September 30, 2014 and December 31, 2013 is summarized as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial | $ | 1,626 | $ | 2,035 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 6,666 | 9,172 | |||||||||||||||||||||||||||
Residential | 2,951 | 3,569 | |||||||||||||||||||||||||||
Consumer | 81 | 90 | |||||||||||||||||||||||||||
Total | $ | 11,324 | $ | 14,866 | |||||||||||||||||||||||||
The major classifications of loans by past due status are summarized as follows: | |||||||||||||||||||||||||||||
September 30, 2014 | 30-59 Days | 60-89 Days | Greater | Total | Current | Total | Loans > 90 | ||||||||||||||||||||||
Past Due | Past Due | than 90 | Past Due | Loans | Days and | ||||||||||||||||||||||||
Days | Accruing | ||||||||||||||||||||||||||||
Commercial | $ | 284 | $ | 17 | $ | 1,668 | $ | 1,969 | $ | 321,343 | $ | 323,312 | $ | 42 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,243 | 200 | 6,676 | 8,119 | 448,034 | 456,153 | 10 | ||||||||||||||||||||||
Residential | 1,631 | 1,031 | 3,502 | 6,164 | 308,918 | 315,082 | 551 | ||||||||||||||||||||||
Consumer | 624 | 344 | 433 | 1,401 | 83,994 | 85,395 | 352 | ||||||||||||||||||||||
Total | $ | 3,782 | $ | 1,592 | $ | 12,279 | $ | 17,653 | $ | 1,162,289 | $ | 1,179,942 | $ | 955 | |||||||||||||||
December 31, 2013 | 30-59 Days | 60-89 Days | Greater | Total | Current | Total | Loans > 90 | ||||||||||||||||||||||
Past Due | Past Due | than 90 | Past Due | Loans | Days and | ||||||||||||||||||||||||
Days | Accruing | ||||||||||||||||||||||||||||
Commercial | $ | 1,052 | $ | 105 | $ | 2,041 | $ | 3,198 | $ | 347,482 | $ | 350,680 | $ | 6 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,641 | 75 | 9,372 | 11,088 | 401,970 | 413,058 | 200 | ||||||||||||||||||||||
Residential | 3,676 | 985 | 4,247 | 8,908 | 313,154 | 322,062 | 678 | ||||||||||||||||||||||
Consumer | 798 | 313 | 661 | 1,772 | 89,045 | 90,817 | 571 | ||||||||||||||||||||||
Total | $ | 7,167 | $ | 1,478 | $ | 16,321 | $ | 24,966 | $ | 1,151,651 | $ | 1,176,617 | $ | 1,455 | |||||||||||||||
The following tables summarize information concerning impaired loans as of and for the three and nine months ended September 30, 2014 and September 30, 2013, and as of and for the year ended, December 31, 2013 by major loan classification: | |||||||||||||||||||||||||||||
This Quarter | Year-to-Date | ||||||||||||||||||||||||||||
September 30, 2014 | Recorded | Unpaid | Related | Average | Interest | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Balance | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 2,352 | $ | 4,076 | $ | 2,501 | $ | 19 | $ | 2,771 | $ | 71 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 5,275 | 6,074 | 7,587 | 20 | 9,238 | 58 | |||||||||||||||||||||||
Residential | 2,629 | 2,816 | 2,675 | 1 | 2,758 | 3 | |||||||||||||||||||||||
Consumer | 64 | 64 | 81 | 101 | |||||||||||||||||||||||||
Total | 10,320 | 13,030 | 12,844 | 40 | 14,868 | 132 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,781 | 1,781 | $ | 1,163 | 1,769 | 20 | 1,825 | 63 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,893 | 3,893 | 660 | 2,640 | 14 | 1,816 | 43 | ||||||||||||||||||||||
Residential | 750 | 750 | 275 | 504 | 4 | 428 | 4 | ||||||||||||||||||||||
Consumer | 17 | 17 | 17 | 9 | 3 | ||||||||||||||||||||||||
Total | 6,441 | 6,441 | 2,115 | 4,922 | 38 | 4,072 | 110 | ||||||||||||||||||||||
Commercial | 4,133 | 5,857 | 1,163 | 4,270 | 39 | 4,596 | 134 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 9,168 | 9,967 | 660 | 10,227 | 34 | 11,054 | 101 | ||||||||||||||||||||||
Residential | 3,379 | 3,566 | 275 | 3,179 | 5 | 3,186 | 7 | ||||||||||||||||||||||
Consumer | 81 | 81 | 17 | 90 | 104 | ||||||||||||||||||||||||
Total | $ | 16,761 | $ | 19,471 | $ | 2,115 | $ | 17,766 | $ | 78 | $ | 18,940 | $ | 242 | |||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
December 31, 2013 | Recorded Investment | Unpaid Principal | Related | Average | Interest | ||||||||||||||||||||||||
Balance | Allowance | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 4,978 | $ | 9,474 | $ | 5,824 | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 10,496 | 13,352 | 10,095 | ||||||||||||||||||||||||||
Residential | 3,004 | 3,437 | 2,614 | ||||||||||||||||||||||||||
Consumer | 90 | 90 | 95 | ||||||||||||||||||||||||||
Total | 18,568 | 26,353 | 18,628 | ||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,200 | 2,200 | $ | 1,500 | 2,182 | $ | 95 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,394 | 1,394 | 300 | 1,409 | 76 | ||||||||||||||||||||||||
Residential | 784 | 784 | 224 | 672 | 13 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 4,378 | 4,378 | 2,024 | 4,263 | 184 | ||||||||||||||||||||||||
Commercial | 7,178 | 11,674 | 1,500 | 8,006 | 95 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 11,890 | 14,746 | 300 | 11,504 | 76 | ||||||||||||||||||||||||
Residential | 3,788 | 4,221 | 224 | 3,286 | 13 | ||||||||||||||||||||||||
Consumer | 90 | 90 | 95 | ||||||||||||||||||||||||||
Total | $ | 22,946 | $ | 30,731 | $ | 2,024 | $ | 22,891 | $ | 184 | |||||||||||||||||||
This Quarter | Year-to-Date | ||||||||||||||||||||||||||||
September 30, 2013 | Recorded | Unpaid | Related | Average | Interest | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Balance | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 305 | $ | 305 | $ | 82 | $ | 213 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 267 | 267 | 293 | 289 | |||||||||||||||||||||||||
Residential | 1,621 | 1,621 | 1,552 | 1,217 | |||||||||||||||||||||||||
Consumer | 99 | 99 | 85 | 75 | |||||||||||||||||||||||||
Total | 2,292 | 2,292 | 2,012 | 1,794 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,064 | 2,064 | $ | 1,464 | 3,226 | $ | 70 | 1,440 | $ | 82 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,424 | 1,424 | 300 | 1,396 | 19 | 1,435 | 57 | ||||||||||||||||||||||
Residential | 599 | 599 | 195 | 372 | 4 | 943 | 10 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 4,087 | 4,087 | 1,959 | 4,994 | 93 | 3,818 | 149 | ||||||||||||||||||||||
Commercial | 2,369 | 2,369 | 1,464 | 3,308 | 70 | 1,653 | 82 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,691 | 1,691 | 300 | 1,689 | 19 | 1,724 | 57 | ||||||||||||||||||||||
Residential | 2,220 | 2,220 | 195 | 1,924 | 4 | 2,160 | 10 | ||||||||||||||||||||||
Consumer | 99 | 99 | 85 | 75 | |||||||||||||||||||||||||
Total | $ | 6,379 | $ | 6,379 | $ | 1,959 | $ | 7,006 | $ | 93 | $ | 5,612 | $ | 149 | |||||||||||||||
Included in the commercial loan and commercial real estate categories are troubled debt restructurings that are classified as impaired. Troubled debt restructurings totaled $2,500 at September 30, 2014, $2,487 at December 31, 2013 and $344 at September 30, 2013. | |||||||||||||||||||||||||||||
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 and a concession has been granted that the Company would not otherwise consider. Unless on nonaccrual, interest income on these loans is recognized when earned, using the interest method. The Company offers a variety of modifications to borrowers that would be considered concessions. The modification categories offered generally fall within the following categories: | |||||||||||||||||||||||||||||
• | Rate Modification - A modification in which the interest rate is changed to a below market rate. | ||||||||||||||||||||||||||||
• | 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. | ||||||||||||||||||||||||||||
There was one loan modified as a troubled debt restructuring for the nine months ended September 30, 2014 in the amount of $2,500. There were no new loans modified as troubled debt restructurings for the nine months ended September 30, 2013. During the three and nine months ended September 30, 2014 and 2013, there were no defaults on loans restructured within the last twelve months. |
Other_assets
Other assets | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Other assets | ' | ||||||||
6. Other assets: | |||||||||
The components of other assets at September 30, 2014, and December 31, 2013 are summarized as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Other real estate owned | $ | 840 | $ | 648 | |||||
Investment in residential housing program | 3,021 | 3,211 | |||||||
Mortgage servicing rights | 824 | 880 | |||||||
Bank owned life insurance | 29,790 | 29,198 | |||||||
Restricted equity securities | 4,078 | 4,102 | |||||||
Other assets | 12,924 | 9,949 | |||||||
Total | $ | 51,477 | $ | 47,988 | |||||
Fair_value_estimates
Fair value estimates | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair value estimates | ' | ||||||||||||||||||||
7. Fair value estimates: | |||||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosure under GAAP. Fair value estimates are calculated without attempting to estimate the value of anticipated future business and the value of certain assets and liabilities that are not considered financial. Accordingly, such assets and liabilities are excluded from disclosure requirements. | |||||||||||||||||||||
In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures,” fair value is the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets. In many cases, these values cannot be realized in immediate settlement of the instrument. | |||||||||||||||||||||
Current fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction that is not a forced liquidation or distressed sale between participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | |||||||||||||||||||||
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. 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’s or liability’s placement in the fair value hierarchy is based on the lowest level of input that is significant to the fair value estimate. | |||||||||||||||||||||
The following methods and assumptions were used by the Company to calculate fair values and related carrying amounts of financial instruments: | |||||||||||||||||||||
Cash and cash equivalents: The carrying values of cash and cash equivalents as reported on the balance sheet approximate fair value. | |||||||||||||||||||||
Investment securities: The fair values of U.S. Treasury securities and marketable equity securities are based on quoted market prices from active exchange markets. The fair values of debt securities are based on pricing from a matrix pricing model. | |||||||||||||||||||||
Loans held for sale: The fair values of loans held for sale are based upon current delivery prices in the secondary mortgage market. | |||||||||||||||||||||
Net loans: For adjustable-rate loans that re-price frequently and with no significant credit risk, fair values are based on carrying values. The fair values of other non-impaired loans are estimated using discounted cash flow analysis, using interest rates currently offered in the market for loans with similar terms to borrowers of similar credit risk. Fair values for impaired loans are estimated using discounted cash flow analysis determined by the loan review function or underlying collateral values, where applicable. | |||||||||||||||||||||
In conjunction with the Merger, the loans purchased were recorded at their acquisition date fair value. In order to record the loans at fair value, management made three different types of fair value adjustments. A market rate adjustment was made to adjust for the movement in market interest rates, irrespective of credit adjustments, compared to the stated rates of the acquired loans. A credit adjustment was made on pools of homogeneous loans representing the changes in credit quality of the underlying borrowers from the loan inception to the acquisition date. The credit adjustment on distressed loans represents the portion of the loan balance that has been deemed uncollectible based on the management’s expectations of future cash flows for each respective loan. | |||||||||||||||||||||
Mortgage servicing rights: To determine the fair value, the Company estimates the present value of future cash flows incorporating assumptions such as cost of servicing, discount rates, prepayment speeds and default rates. | |||||||||||||||||||||
Accrued interest receivable: The carrying value of accrued interest receivable as reported on the balance sheet approximates fair value. | |||||||||||||||||||||
Restricted equity securities: The carrying values of restricted equity securities approximate fair value, due to the lack of marketability for these securities. | |||||||||||||||||||||
Deposits: The fair values of noninterest-bearing deposits and savings, NOW and money market accounts are the amounts payable on demand at the reporting date. The fair value estimates do not include the benefit that results from such low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market. The carrying values of adjustable-rate, fixed-term time deposits approximate their fair values at the reporting date. For fixed-rate time deposits, the present value of future cash flows is used to estimate fair values. The discount rates used are the current rates offered for time deposits with similar maturities. | |||||||||||||||||||||
The fair value assigned to the core deposit intangible asset represents the future economic benefit of the potential cost savings from acquiring core deposits in the Merger compared to the cost of obtaining alternative funding such as brokered deposits from market sources. Management utilized an income valuation approach to present value the estimated future cash savings in order to determine the fair value of the intangible asset. | |||||||||||||||||||||
Short-term borrowings: The carrying values of short-term borrowings approximate 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 rate offered for long-term debt with the same maturity. | |||||||||||||||||||||
Accrued interest payable: The carrying value of accrued interest payable as reported on the balance sheet approximates fair value. | |||||||||||||||||||||
Off-balance sheet financial instruments: | |||||||||||||||||||||
The majority of commitments to extend credit, unused portions of lines of credit and standby letters of credit carry current market interest rates if converted to loans. Because such commitments are generally unassignable of either the Company or the borrower, they only have value to the Company and the borrower. None of the commitments are subject to undue credit risk. The estimated fair values of off-balance sheet financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of off-balance sheet financial instruments was not material at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
September 30, 2014 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
U.S. Treasury securities | $ | 48,061 | $ | 48,061 | |||||||||||||||||
U.S. Government-sponsored enterprises | 101,252 | $ | 101,252 | ||||||||||||||||||
State and Municipals: | |||||||||||||||||||||
Taxable | 17,236 | 17,236 | |||||||||||||||||||
Tax-exempt | 94,106 | 94,106 | |||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 39,511 | 39,511 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 50,659 | 50,659 | |||||||||||||||||||
Common equity securities | |||||||||||||||||||||
Total | $ | 350,825 | $ | 48,061 | $ | 302,764 | |||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
December 31, 2013 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
U.S. Government-sponsored enterprises | 113,045 | 113,045 | |||||||||||||||||||
State and Municipals: | |||||||||||||||||||||
Taxable | 16,698 | 16,698 | |||||||||||||||||||
Tax-exempt | 98,081 | 98,081 | |||||||||||||||||||
Corporate debt securities | 4,387 | 4,387 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 20,433 | 20,433 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 45,974 | 45,974 | |||||||||||||||||||
Common equity securities | 1,097 | $ | 1,097 | ||||||||||||||||||
Total | $ | 299,715 | $ | 1,097 | $ | 298,618 | |||||||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
September 30, 2014 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Impaired loans | $ | 1,826 | $ | 1,826 | |||||||||||||||||
Other real estate owned | $ | 285 | $ | 285 | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
December 31, 2013 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Impaired loans | $ | 2,354 | $ | 2,354 | |||||||||||||||||
Other real estate owned | $ | 437 | $ | 437 | |||||||||||||||||
Fair values of impaired loans are based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. | |||||||||||||||||||||
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 | |||||||||||||||||||||
September 30, 2014 | Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
Estimate | (Weighted Average) | ||||||||||||||||||||
Impaired loans | $ | 1,826 | Appraisal of collateral | Appraisal adjustments | 2.6% to 74.0% (22.9%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (5.6%) | ||||||||||||||||||||
Other real estate owned | $ | 285 | Appraisal of collateral | Appraisal adjustments | 17.0% to 24.0 % (20.7%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (4.4%) | ||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
Estimate | (Weighted Average) | ||||||||||||||||||||
Impaired loans | $ | 2,354 | Appraisal of collateral | Appraisal adjustments | 11.0% to 33.7% (17.3%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (5.0%) | ||||||||||||||||||||
Other real estate owned | $ | 437 | Appraisal of collateral | Appraisal adjustments | 17.0% to 24.0% (20.7%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (4.4%) | ||||||||||||||||||||
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 by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | |||||||||||||||||||||
The carrying and fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013 and their placement within the fair value hierarchy are as follows: | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
September 30, 2014 | Carrying | Fair Value | Quoted Prices in | Significant | Significant | ||||||||||||||||
Value | Active Markets | Other | Unobservable | ||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets (level 1) | Inputs | (Level 3) | |||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 34,211 | $ | 34,211 | $ | 34,211 | |||||||||||||||
Investment securities: | |||||||||||||||||||||
Available-for-sale | 350,825 | 350,825 | $ | 48,061 | $ | 302,764 | |||||||||||||||
Held-to-maturity | 15,264 | 15,516 | 15,516 | ||||||||||||||||||
Loans held for sale | 2,961 | 2,961 | 2,961 | ||||||||||||||||||
Net loans | 1,169,771 | 1,179,677 | 1,179,677 | ||||||||||||||||||
Accrued interest receivable | 5,381 | 5,381 | 5,381 | ||||||||||||||||||
Mortgage servicing rights | 824 | 1,440 | 1,440 | ||||||||||||||||||
Restricted equity securities | 4,078 | 4,078 | 4,078 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 1,425,628 | $ | 1,427,110 | 1,427,110 | ||||||||||||||||
Short-term borrowings | 6,514 | 6,514 | 6,514 | ||||||||||||||||||
Long-term debt | 34,020 | 35,577 | 35,577 | ||||||||||||||||||
Accrued interest payable | 597 | 597 | 597 | ||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
December 31, 2013 | Carrying | Fair Value | Quoted Prices in | Significant | Significant | ||||||||||||||||
Value | Active Markets | Other | Unobservable | ||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets (level 1) | Inputs | (Level 3) | |||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 51,310 | $ | 51,310 | $ | 51,310 | |||||||||||||||
Investment securities: | |||||||||||||||||||||
Available-for-sale | 299,715 | 299,715 | $ | 1,097 | $ | 298,618 | |||||||||||||||
Held-to-maturity | 17,295 | 17,175 | 17,175 | ||||||||||||||||||
Loans held for sale | 1,757 | 1,757 | 1,757 | ||||||||||||||||||
Net loans | 1,167,966 | 1,180,387 | $ | 1,180,387 | |||||||||||||||||
Accrued interest receivable | 5,866 | 5,866 | 5,866 | ||||||||||||||||||
Mortgage servicing rights | 880 | 1,440 | 1,440 | ||||||||||||||||||
Restricted equity securities | 4,102 | 4,102 | 4,102 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 1,379,507 | $ | 1,381,946 | 1,381,946 | ||||||||||||||||
Short-term borrowings | 22,052 | 22,052 | 22,052 | ||||||||||||||||||
Long-term debt | 36,743 | 37,468 | 37,468 | ||||||||||||||||||
Accrued interest payable | 723 | 723 | 723 |
Employee_benefit_plans
Employee benefit plans | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||
Employee benefit plans | ' | ||||||||||||||
8. Employee benefit plans: | |||||||||||||||
The Company provides an Employee Stock Ownership Plan (“ESOP”), a Retirement Profit Sharing 401(k) Plan, an Employees’ Pension Plan, which is currently frozen, a supplemental executive defined benefit plan (currently frozen), a supplemental executive defined contribution plan, non-qualified supplemental executive retirement plans (“SERP”), a Postretirement Life Insurance Plan, which was curtailed in 2013, and a Long-Term Incentive Plan. For the three and nine months ended September 30, salaries and employee benefits expense includes approximately $581 and $1,744 in 2014 and $378 and $1,135 in 2013 relating to the employee benefit plans. | |||||||||||||||
Components of net periodic benefit cost are as follows: | |||||||||||||||
Pension Benefits | Postretirement Life | ||||||||||||||
Insurance Benefits | |||||||||||||||
Three months ended September 30, | 2014 | 2013 | 2014 | 2013 | |||||||||||
Net periodic pension cost: | |||||||||||||||
Service cost | $ | 11 | |||||||||||||
Interest cost | $ | 169 | $ | 162 | 33 | ||||||||||
Expected return on plan assets | (227 | ) | (207 | ) | |||||||||||
Amortization of prior service cost | |||||||||||||||
Amortization of unrecognized net loss | 23 | 45 | 28 | ||||||||||||
Net periodic pension cost | $ | (35 | ) | $ | $ | 72 | |||||||||
Pension Benefits | Postretirement Life | ||||||||||||||
Insurance Benefits | |||||||||||||||
Nine months ended September 30, | 2014 | 2013 | 2014 | 2013 | |||||||||||
Net periodic pension cost: | |||||||||||||||
Service cost | $ | 32 | |||||||||||||
Interest cost | $ | 507 | $ | 485 | 100 | ||||||||||
Expected return on plan assets | (681 | ) | (620 | ) | |||||||||||
Amortization of prior service cost | |||||||||||||||
Amortization of unrecognized net loss | 69 | 135 | 86 | ||||||||||||
Net periodic pension cost | $ | (105 | ) | $ | $ | 218 | |||||||||
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Nature of operations | ' |
Nature of operations: | |
Peoples Financial Services Corp., a bank holding company incorporated under the laws of Pennsylvania, provides a range of financial services through its wholly-owned subsidiary, Peoples Security Bank and Trust Company (“Peoples Bank”), including its subsidiaries, Peoples Advisors, LLC and Penseco Realty, Inc. (collectively, the “Company” or “Peoples”). On November 30, 2013, Penseco Financial Services Corporation, a financial holding company incorporated under the laws of Pennsylvania (“Penseco”), merged with and into Peoples Financial Services Corp., with Peoples Financial Services Corp. being the surviving corporation (the “Merger”), pursuant to an Agreement and Plan of Merger dated June 28, 2013 (the “Merger Agreement”). In connection with the Merger, on December 1, 2013, Penseco’s former banking subsidiary, Penn Security Bank and Trust Company, merged with and into Peoples Neighborhood Bank (the “Bank Merger”), and the resulting institution adopted the name Peoples Security Bank and Trust Company. The Company services its retail and commercial customers through twenty-six full-service community banking offices located within the Lackawanna, Luzerne, Monroe, Susquehanna, Wayne and Wyoming Counties of Northeastern Pennsylvania and Broome County of New York. | |
Basis of presentation | ' |
Basis of presentation: | |
The aforementioned merger between the Company and Penseco was accounted for as a reverse acquisition whereby Penseco was treated as the acquirer for accounting and reporting purposes. As a result, the historical financial information prior to the merger date included in the Company’s consolidated financial statements and related notes as reported in this Form 10-Q is that of Penseco. The number of shares issued and outstanding and the amount of common stock and capital surplus in 2013 periods were retroactively adjusted to reflect the equivalent number of shares issued by the Company in the merger. | |
The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP’) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. 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 to the current year’s presentation. These reclassifications did not have any effect on the operating results or financial position of the Company. Certain disclosures related to impaired and nonaccrual loans have been revised for December 31, 2013. Such revisions were not material and had no effect on the operating results or financial position of the Company. The operating results and financial position of the Company for the nine months ended and as of September 30, 2014, are not necessarily indicative of the results of operations and financial position that may be expected in the future. | |
The preparation of consolidated 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, reference is made to the Company’s Annual Report on Form 10-K for the period ended December 31, 2013. | |
The Company has evaluated events and transactions occurring subsequent to the balance sheet date of September 30, 2014, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |
Recent accounting standards | ' |
Recent accounting standards: | |
In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-13, “Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity.” The amendments in this Update address the measurement mismatch that often results from the difference between the fair value of the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”). The ASU provides an option for measuring the financial assets and financial liabilities of a CFE to eliminate that difference under certain conditions. Under that option, a reporting entity should use the more observable of the fair value of the financial assets and the fair value of the financial liabilities of a CFE to measure both. If an entity does not elect the measurement alternative, it should continue applying the measurement guidance in Topic 820 to assets and liabilities that are carried at fair value in the financial statements. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2014-13 is not expected to have a material effect on the operating results or financial position of the Company. | |
In August 2014, the FASB issued ASU 2014-14, “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” The amendments in this Update address a practice issue related to the classification of certain foreclosed residential and nonresidential mortgage loans that are either fully or partially guaranteed under government programs. Specifically, creditors should reclassify loans that meet certain conditions to other receivables upon foreclosure, rather than reclassifying them to other real estate owned. The separate other receivable recorded upon foreclosure is to be measured based on the amount of the loan balance, principal and interest, the creditor expects to recover from the guarantor. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of ASU 2014-14 is not expected to have a material effect on the operating results or financial position of the Company. |
Other_comprehensive_income_los1
Other comprehensive income (loss) (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Equity [Abstract] | ' | ||||||||
Components of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
The components of accumulated other comprehensive income (loss) included in stockholders’ equity at September 30, 2014 and December 31, 2013 is as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Net unrealized gain on investment securities available-for-sale | $ | 4,760 | $ | 2,810 | |||||
Related income taxes | (1,666 | ) | (984 | ) | |||||
Net of income taxes | 3,094 | 1,826 | |||||||
Benefit plan adjustments | (3,883 | ) | (3,883 | ) | |||||
Related income taxes | 1,359 | 1,359 | |||||||
Net of income taxes | (2,524 | ) | (2,524 | ) | |||||
Accumulated other comprehensive income (loss) | $ | 570 | $ | (698 | ) | ||||
Other Comprehensive Income (Loss) and Related Tax Effects | ' | ||||||||
Other comprehensive income (loss) and related tax effects for the three and nine months ended September 30, 2014 and 2013 is as follows: | |||||||||
Three months ended September 30 | 2014 | 2013 | |||||||
Unrealized gain (loss) on investment securities available-for-sale | $ | (825 | ) | $ | (20 | ) | |||
Net gain on the sale of investment securities available-for-sale (1) | (701 | ) | (33 | ) | |||||
Other comprehensive income (loss) gain before taxes | (1,526 | ) | (53 | ) | |||||
Income tax expense (benefit) | (534 | ) | (18 | ) | |||||
Other comprehensive income (loss) | $ | (992 | ) | $ | (35 | ) | |||
Nine months ended September 30 | 2014 | 2013 | |||||||
Unrealized gain (loss) on investment securities available-for-sale | $ | 2,811 | $ | (3,240 | ) | ||||
Net gain on the sale of investment securities available-for-sale (1) | (861 | ) | (158 | ) | |||||
Other comprehensive income (loss) gain before taxes | 1,950 | (3,398 | ) | ||||||
Income tax expense (benefit) | 682 | (1,155 | ) | ||||||
Other comprehensive income (loss) | $ | 1,268 | $ | (2,243 | ) | ||||
-1 | Amounts reclassified out of accumulated comprehensive income and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. |
Earnings_per_share_Tables
Earnings per share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings per Share | ' | ||||||||||||||||
There were no shares considered anti-dilutive for the three and nine month periods ended September 30, 2014 and 2013. | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
For the three months ended September 30 | Basic | Diluted | Basic | Diluted | |||||||||||||
Net Income (Numerator) | $ | 5,236 | $ | 5,236 | $ | 2,486 | $ | 2,486 | |||||||||
Average common shares outstanding (Denominator) | 7,548,358 | 7,548,358 | 4,473,846 | 4,473,846 | |||||||||||||
Earnings per share | $ | 0.7 | $ | 0.7 | $ | 0.56 | $ | 0.56 | |||||||||
2014 | 2013 | ||||||||||||||||
For the nine months ended September 30 | Basic | Diluted | Basic | Diluted | |||||||||||||
Net Income (Numerator) | $ | 13,265 | $ | 13,265 | $ | 7,851 | $ | 7,851 | |||||||||
Average common shares outstanding (Denominator) | 7,548,983 | 7,566,456 | 4,469,480 | 4,469,480 | |||||||||||||
Earnings per share | $ | 1.76 | $ | 1.76 | $ | 1.76 | $ | 1.76 |
Investment_securities_Tables
Investment securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category | ' | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities aggregated by investment category at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Amortized Cost | Gross | Gross | Fair | |||||||||||||||||||||
Unrealized | Unrealized | Value | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 48,357 | $ | 296 | $ | 48,061 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 101,294 | $ | 186 | 228 | 101,252 | ||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,534 | 727 | 25 | 17,236 | |||||||||||||||||||||
Tax-exempt | 89,340 | 4,782 | 16 | 94,106 | |||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 39,677 | 121 | 287 | 39,511 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 50,863 | 247 | 451 | 50,659 | |||||||||||||||||||||
Common equity securities | |||||||||||||||||||||||||
Total | $ | 346,065 | $ | 6,063 | $ | 1,303 | $ | 350,825 | |||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 7,370 | $ | 14 | $ | 207 | $ | 7,177 | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 104 | 2 | 106 | ||||||||||||||||||||||
U.S. Government-sponsored enterprises | 7,790 | 443 | 8,233 | ||||||||||||||||||||||
Total | $ | 15,264 | $ | 459 | $ | 207 | $ | 15,516 | |||||||||||||||||
December 31, 2013 | Amortized Cost | Gross | Gross | Fair | |||||||||||||||||||||
Unrealized | Unrealized | Value | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 113,221 | $ | 296 | 472 | 113,045 | |||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 16,664 | 160 | 126 | 16,698 | |||||||||||||||||||||
Tax-exempt | 96,194 | 2,267 | 380 | 98,081 | |||||||||||||||||||||
Corporate debt securities | 4,433 | 32 | 78 | 4,387 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 20,386 | 113 | 66 | 20,433 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 45,251 | 763 | 40 | 45,974 | |||||||||||||||||||||
Common equity securities | 756 | 351 | 10 | 1,097 | |||||||||||||||||||||
Total | $ | 296,905 | $ | 3,982 | $ | 1,172 | $ | 299,715 | |||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | |||||||||||||||||||||||||
Tax-exempt | $ | 7,372 | $ | 11 | $ | 777 | $ | 6,606 | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 117 | 2 | 119 | ||||||||||||||||||||||
U.S. Government-sponsored enterprises | 9,806 | 644 | 10,450 | ||||||||||||||||||||||
Total | $ | 17,295 | $ | 657 | $ | 777 | $ | 17,175 | |||||||||||||||||
Maturity Distribution of Debt Securities | ' | ||||||||||||||||||||||||
The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at September 30, 2014, is summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Within one year | |||||||||||||||||||||||||
After one but within five years | $ | 325 | $ | 333 | |||||||||||||||||||||
After five but within ten years | 176 | 182 | |||||||||||||||||||||||
After ten years | 6,869 | 6,662 | |||||||||||||||||||||||
7,370 | 7,177 | ||||||||||||||||||||||||
Mortgage-backed securities | 7,894 | 8,339 | |||||||||||||||||||||||
Total | $ | 15,264 | $ | 15,516 | |||||||||||||||||||||
Fair Value and Unrealized Losses of Investment Securities in Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||
The fair value and gross unrealized losses of investment securities with unrealized losses for which an other-than-temporary impairment (“OTTI”) has not been recognized at September 30, 2014 and December 31, 2013, 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 | |||||||||||||||||||||||
September 30, 2014 | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
U.S. Treasury securities | $ | 48,061 | $ | 296 | $ | 48,061 | $ | 296 | |||||||||||||||||
U.S. Government-sponsored enterprises | 32,649 | 74 | $ | 20,940 | $ | 154 | 53,589 | 228 | |||||||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 1,599 | 25 | 1,599 | 25 | |||||||||||||||||||||
Tax-exempt | 8,417 | 35 | 4,776 | 188 | 13,193 | 223 | |||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 26,466 | 287 | 26,466 | 287 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 29,382 | 451 | 29,382 | 451 | |||||||||||||||||||||
Common equity securities | |||||||||||||||||||||||||
Total | $ | 146,574 | $ | 1,168 | $ | 25,716 | $ | 342 | $ | 172,290 | $ | 1,510 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
December 31, 2013 | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
U.S. Government-sponsored enterprises | $ | 66,391 | $ | 468 | $ | 3,114 | $ | 4 | $ | 69,505 | $ | 472 | |||||||||||||
State and municipals: | |||||||||||||||||||||||||
Taxable | 10,621 | 126 | 10,621 | 126 | |||||||||||||||||||||
Tax-exempt | 36,471 | 1,157 | 36,471 | 1,157 | |||||||||||||||||||||
Corporate debt securities | 1,095 | 78 | 1,095 | 78 | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
U.S. Government agencies | 12,978 | 66 | 12,978 | 66 | |||||||||||||||||||||
U.S. Government-sponsored enterprises | 5,624 | 40 | 5,624 | 40 | |||||||||||||||||||||
Common equity securities | 137 | 10 | 137 | 10 | |||||||||||||||||||||
Total | $ | 133,317 | $ | 1,945 | $ | 3,114 | $ | 4 | $ | 136,431 | $ | 1,949 | |||||||||||||
Available-for-Sale Securities [Member] | ' | ||||||||||||||||||||||||
Maturity Distribution of Debt Securities | ' | ||||||||||||||||||||||||
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, 2014, is summarized as follows: | |||||||||||||||||||||||||
September 30, 2014 | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Within one year | $ | 28,889 | |||||||||||||||||||||||
After one but within five years | 132,467 | ||||||||||||||||||||||||
After five but within ten years | 32,136 | ||||||||||||||||||||||||
After ten years | 67,163 | ||||||||||||||||||||||||
260,655 | |||||||||||||||||||||||||
Mortgage-backed securities | 90,170 | ||||||||||||||||||||||||
Total | $ | 350,825 | |||||||||||||||||||||||
Loans_net_and_allowance_for_lo1
Loans, net and allowance for loan losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Major Classifications of Loans Outstanding | ' | ||||||||||||||||||||||||||||
The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2014 and December 31, 2013 are summarized as follows. Net deferred loan costs were $526 and $24 at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial | $ | 323,312 | $ | 350,680 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 456,153 | 413,058 | |||||||||||||||||||||||||||
Residential | 315,082 | 322,062 | |||||||||||||||||||||||||||
Consumer | 85,395 | 90,817 | |||||||||||||||||||||||||||
Total | $ | 1,179,942 | $ | 1,176,617 | |||||||||||||||||||||||||
Changes in 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, 2014 and 2013 are summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2014 | $ | 2,201 | $ | 2,675 | $ | 3,458 | $ | 1,288 | $ | 9,622 | |||||||||||||||||||
Charge-offs | (57 | ) | (56 | ) | (64 | ) | (177 | ) | |||||||||||||||||||||
Recoveries | 5 | 22 | 33 | 60 | |||||||||||||||||||||||||
Provisions | 152 | 185 | 239 | 90 | 666 | ||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2014 | $ | 2,008 | $ | 2,394 | $ | 3,135 | $ | 1,114 | $ | 8,651 | |||||||||||||||||||
Charge-offs | (376 | ) | (489 | ) | (566 | ) | (219 | ) | (1,650 | ) | |||||||||||||||||||
Recoveries | 6 | 291 | 38 | 111 | 446 | ||||||||||||||||||||||||
Provisions | 720 | 629 | 1,034 | 341 | 2,724 | ||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance July 1, 2013 | $ | 1,199 | $ | 2,304 | $ | 3,092 | $ | 957 | $ | 7,552 | |||||||||||||||||||
Charge-offs | (5 | ) | (168 | ) | (43 | ) | (216 | ) | |||||||||||||||||||||
Recoveries | 5 | 5 | 10 | ||||||||||||||||||||||||||
Provisions | 513 | (98 | ) | 110 | 525 | ||||||||||||||||||||||||
Ending balance | $ | 1,707 | $ | 2,304 | $ | 2,831 | $ | 1,029 | $ | 7,871 | |||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance January 1, 2013 | $ | 799 | $ | 2,304 | $ | 2,981 | $ | 866 | $ | 6,950 | |||||||||||||||||||
Charge-offs | (5 | ) | (375 | ) | (160 | ) | (540 | ) | |||||||||||||||||||||
Recoveries | 111 | 25 | 136 | ||||||||||||||||||||||||||
Provisions | 913 | 114 | 298 | 1,325 | |||||||||||||||||||||||||
Ending balance | $ | 1,707 | $ | 2,304 | $ | 2,831 | $ | 1,029 | $ | 7,871 | |||||||||||||||||||
The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2014 and December 31, 2013 is summarized as follows: | |||||||||||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
September 30, 2014 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,358 | $ | 2,825 | $ | 3,641 | $ | 1,347 | $ | 10,171 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 1,163 | 660 | 275 | 17 | 2,115 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,195 | 2,165 | 3,366 | 1,330 | 8,056 | ||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 323,312 | $ | 456,153 | $ | 315,082 | $ | 85,395 | $ | 1,179,942 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 2,721 | 7,799 | 3,318 | 81 | 13,919 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 319,179 | 446,985 | 311,703 | $ | 85,314 | 1,163,181 | |||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 1,412 | $ | 1,369 | $ | 61 | $ | 2,842 | |||||||||||||||||||||
Real estate | |||||||||||||||||||||||||||||
December 31, 2013 | Commercial | Commercial | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance | $ | 2,008 | $ | 2,394 | $ | 3,135 | $ | 1,114 | $ | 8,651 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 1,500 | 300 | 224 | 2,024 | |||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 508 | 2,094 | 2,911 | 1,114 | 6,627 | ||||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||
Ending balance | $ | 350,680 | $ | 413,058 | $ | 322,062 | $ | 90,817 | $ | 1,176,617 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 4,504 | 7,711 | 3,321 | 90 | 15,626 | ||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 343,502 | 401,168 | 318,274 | $ | 90,727 | 1,153,671 | |||||||||||||||||||||||
Ending balance: loans acquired with deteriorated credit quality | $ | 2,674 | $ | 4,179 | $ | 467 | $ | 7,320 | |||||||||||||||||||||
Major Classification of Loans Portfolio Summarized by Credit Quality | ' | ||||||||||||||||||||||||||||
The following tables present the major classification of loans 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, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
September 30, 2014 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 311,685 | $ | 4,207 | $ | 7,420 | $ | 323,312 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 430,443 | 10,100 | 15,610 | 456,153 | |||||||||||||||||||||||||
Residential | 306,007 | 1,399 | 7,676 | 315,082 | |||||||||||||||||||||||||
Consumer | 85,324 | 14 | 57 | 85,395 | |||||||||||||||||||||||||
Total | $ | 1,133,459 | $ | 15,720 | $ | 30,763 | $ | 1,179,942 | |||||||||||||||||||||
December 31, 2013 | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
Commercial | $ | 332,257 | $ | 7,025 | $ | 11,398 | $ | 350,680 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 386,825 | 10,701 | 15,532 | 413,058 | |||||||||||||||||||||||||
Residential | 314,544 | 861 | 6,657 | 322,062 | |||||||||||||||||||||||||
Consumer | 90,718 | 9 | 90 | 90,817 | |||||||||||||||||||||||||
Total | $ | 1,124,344 | $ | 18,596 | $ | 33,677 | $ | 1,176,617 | |||||||||||||||||||||
Information Concerning Nonaccrual Loans by Major Loan Classification | ' | ||||||||||||||||||||||||||||
Information concerning nonaccrual loans by major loan classification at September 30, 2014 and December 31, 2013 is summarized as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial | $ | 1,626 | $ | 2,035 | |||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 6,666 | 9,172 | |||||||||||||||||||||||||||
Residential | 2,951 | 3,569 | |||||||||||||||||||||||||||
Consumer | 81 | 90 | |||||||||||||||||||||||||||
Total | $ | 11,324 | $ | 14,866 | |||||||||||||||||||||||||
Major Classifications of Loans by Past Due Status | ' | ||||||||||||||||||||||||||||
The major classifications of loans by past due status are summarized as follows: | |||||||||||||||||||||||||||||
September 30, 2014 | 30-59 Days | 60-89 Days | Greater | Total | Current | Total | Loans > 90 | ||||||||||||||||||||||
Past Due | Past Due | than 90 | Past Due | Loans | Days and | ||||||||||||||||||||||||
Days | Accruing | ||||||||||||||||||||||||||||
Commercial | $ | 284 | $ | 17 | $ | 1,668 | $ | 1,969 | $ | 321,343 | $ | 323,312 | $ | 42 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,243 | 200 | 6,676 | 8,119 | 448,034 | 456,153 | 10 | ||||||||||||||||||||||
Residential | 1,631 | 1,031 | 3,502 | 6,164 | 308,918 | 315,082 | 551 | ||||||||||||||||||||||
Consumer | 624 | 344 | 433 | 1,401 | 83,994 | 85,395 | 352 | ||||||||||||||||||||||
Total | $ | 3,782 | $ | 1,592 | $ | 12,279 | $ | 17,653 | $ | 1,162,289 | $ | 1,179,942 | $ | 955 | |||||||||||||||
December 31, 2013 | 30-59 Days | 60-89 Days | Greater | Total | Current | Total | Loans > 90 | ||||||||||||||||||||||
Past Due | Past Due | than 90 | Past Due | Loans | Days and | ||||||||||||||||||||||||
Days | Accruing | ||||||||||||||||||||||||||||
Commercial | $ | 1,052 | $ | 105 | $ | 2,041 | $ | 3,198 | $ | 347,482 | $ | 350,680 | $ | 6 | |||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,641 | 75 | 9,372 | 11,088 | 401,970 | 413,058 | 200 | ||||||||||||||||||||||
Residential | 3,676 | 985 | 4,247 | 8,908 | 313,154 | 322,062 | 678 | ||||||||||||||||||||||
Consumer | 798 | 313 | 661 | 1,772 | 89,045 | 90,817 | 571 | ||||||||||||||||||||||
Total | $ | 7,167 | $ | 1,478 | $ | 16,321 | $ | 24,966 | $ | 1,151,651 | $ | 1,176,617 | $ | 1,455 | |||||||||||||||
Summarize Information in Concerning to Impaired Loans | ' | ||||||||||||||||||||||||||||
The following tables summarize information concerning impaired loans as of and for the three and nine months ended September 30, 2014 and September 30, 2013, and as of and for the year ended, December 31, 2013 by major loan classification: | |||||||||||||||||||||||||||||
This Quarter | Year-to-Date | ||||||||||||||||||||||||||||
September 30, 2014 | Recorded | Unpaid | Related | Average | Interest | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Balance | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 2,352 | $ | 4,076 | $ | 2,501 | $ | 19 | $ | 2,771 | $ | 71 | |||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 5,275 | 6,074 | 7,587 | 20 | 9,238 | 58 | |||||||||||||||||||||||
Residential | 2,629 | 2,816 | 2,675 | 1 | 2,758 | 3 | |||||||||||||||||||||||
Consumer | 64 | 64 | 81 | 101 | |||||||||||||||||||||||||
Total | 10,320 | 13,030 | 12,844 | 40 | 14,868 | 132 | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 1,781 | 1,781 | $ | 1,163 | 1,769 | 20 | 1,825 | 63 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 3,893 | 3,893 | 660 | 2,640 | 14 | 1,816 | 43 | ||||||||||||||||||||||
Residential | 750 | 750 | 275 | 504 | 4 | 428 | 4 | ||||||||||||||||||||||
Consumer | 17 | 17 | 17 | 9 | 3 | ||||||||||||||||||||||||
Total | 6,441 | 6,441 | 2,115 | 4,922 | 38 | 4,072 | 110 | ||||||||||||||||||||||
Commercial | 4,133 | 5,857 | 1,163 | 4,270 | 39 | 4,596 | 134 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 9,168 | 9,967 | 660 | 10,227 | 34 | 11,054 | 101 | ||||||||||||||||||||||
Residential | 3,379 | 3,566 | 275 | 3,179 | 5 | 3,186 | 7 | ||||||||||||||||||||||
Consumer | 81 | 81 | 17 | 90 | 104 | ||||||||||||||||||||||||
Total | $ | 16,761 | $ | 19,471 | $ | 2,115 | $ | 17,766 | $ | 78 | $ | 18,940 | $ | 242 | |||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
December 31, 2013 | Recorded Investment | Unpaid Principal | Related | Average | Interest | ||||||||||||||||||||||||
Balance | Allowance | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | ||||||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 4,978 | $ | 9,474 | $ | 5,824 | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 10,496 | 13,352 | 10,095 | ||||||||||||||||||||||||||
Residential | 3,004 | 3,437 | 2,614 | ||||||||||||||||||||||||||
Consumer | 90 | 90 | 95 | ||||||||||||||||||||||||||
Total | 18,568 | 26,353 | 18,628 | ||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,200 | 2,200 | $ | 1,500 | 2,182 | $ | 95 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,394 | 1,394 | 300 | 1,409 | 76 | ||||||||||||||||||||||||
Residential | 784 | 784 | 224 | 672 | 13 | ||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 4,378 | 4,378 | 2,024 | 4,263 | 184 | ||||||||||||||||||||||||
Commercial | 7,178 | 11,674 | 1,500 | 8,006 | 95 | ||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 11,890 | 14,746 | 300 | 11,504 | 76 | ||||||||||||||||||||||||
Residential | 3,788 | 4,221 | 224 | 3,286 | 13 | ||||||||||||||||||||||||
Consumer | 90 | 90 | 95 | ||||||||||||||||||||||||||
Total | $ | 22,946 | $ | 30,731 | $ | 2,024 | $ | 22,891 | $ | 184 | |||||||||||||||||||
This Quarter | Year-to-Date | ||||||||||||||||||||||||||||
September 30, 2013 | Recorded | Unpaid | Related | Average | Interest | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | Recorded | Income | |||||||||||||||||||||||
Balance | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance: | |||||||||||||||||||||||||||||
Commercial | $ | 305 | $ | 305 | $ | 82 | $ | 213 | |||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 267 | 267 | 293 | 289 | |||||||||||||||||||||||||
Residential | 1,621 | 1,621 | 1,552 | 1,217 | |||||||||||||||||||||||||
Consumer | 99 | 99 | 85 | 75 | |||||||||||||||||||||||||
Total | 2,292 | 2,292 | 2,012 | 1,794 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 2,064 | 2,064 | $ | 1,464 | 3,226 | $ | 70 | 1,440 | $ | 82 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,424 | 1,424 | 300 | 1,396 | 19 | 1,435 | 57 | ||||||||||||||||||||||
Residential | 599 | 599 | 195 | 372 | 4 | 943 | 10 | ||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | 4,087 | 4,087 | 1,959 | 4,994 | 93 | 3,818 | 149 | ||||||||||||||||||||||
Commercial | 2,369 | 2,369 | 1,464 | 3,308 | 70 | 1,653 | 82 | ||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||
Commercial | 1,691 | 1,691 | 300 | 1,689 | 19 | 1,724 | 57 | ||||||||||||||||||||||
Residential | 2,220 | 2,220 | 195 | 1,924 | 4 | 2,160 | 10 | ||||||||||||||||||||||
Consumer | 99 | 99 | 85 | 75 | |||||||||||||||||||||||||
Total | $ | 6,379 | $ | 6,379 | $ | 1,959 | $ | 7,006 | $ | 93 | $ | 5,612 | $ | 149 | |||||||||||||||
Other_assets_Tables
Other assets (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Components of Other Assets | ' | ||||||||
The components of other assets at September 30, 2014, and December 31, 2013 are summarized as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Other real estate owned | $ | 840 | $ | 648 | |||||
Investment in residential housing program | 3,021 | 3,211 | |||||||
Mortgage servicing rights | 824 | 880 | |||||||
Bank owned life insurance | 29,790 | 29,198 | |||||||
Restricted equity securities | 4,078 | 4,102 | |||||||
Other assets | 12,924 | 9,949 | |||||||
Total | $ | 51,477 | $ | 47,988 | |||||
Fair_value_estimates_Tables
Fair value estimates (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
September 30, 2014 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
U.S. Treasury securities | $ | 48,061 | $ | 48,061 | |||||||||||||||||
U.S. Government-sponsored enterprises | 101,252 | $ | 101,252 | ||||||||||||||||||
State and Municipals: | |||||||||||||||||||||
Taxable | 17,236 | 17,236 | |||||||||||||||||||
Tax-exempt | 94,106 | 94,106 | |||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 39,511 | 39,511 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 50,659 | 50,659 | |||||||||||||||||||
Common equity securities | |||||||||||||||||||||
Total | $ | 350,825 | $ | 48,061 | $ | 302,764 | |||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
December 31, 2013 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
U.S. Government-sponsored enterprises | 113,045 | 113,045 | |||||||||||||||||||
State and Municipals: | |||||||||||||||||||||
Taxable | 16,698 | 16,698 | |||||||||||||||||||
Tax-exempt | 98,081 | 98,081 | |||||||||||||||||||
Corporate debt securities | 4,387 | 4,387 | |||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||
U.S. Government agencies | 20,433 | 20,433 | |||||||||||||||||||
U.S. Government-sponsored enterprises | 45,974 | 45,974 | |||||||||||||||||||
Common equity securities | 1,097 | $ | 1,097 | ||||||||||||||||||
Total | $ | 299,715 | $ | 1,097 | $ | 298,618 | |||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
September 30, 2014 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Impaired loans | $ | 1,826 | $ | 1,826 | |||||||||||||||||
Other real estate owned | $ | 285 | $ | 285 | |||||||||||||||||
Fair Value Measurement Using | |||||||||||||||||||||
December 31, 2013 | Amount | Quoted Prices in | Significant | Significant | |||||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Impaired loans | $ | 2,354 | $ | 2,354 | |||||||||||||||||
Other real estate owned | $ | 437 | $ | 437 | |||||||||||||||||
Additional Quantitative Information about Assets Measured at Fair Value on 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 | |||||||||||||||||||||
September 30, 2014 | Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
Estimate | (Weighted Average) | ||||||||||||||||||||
Impaired loans | $ | 1,826 | Appraisal of collateral | Appraisal adjustments | 2.6% to 74.0% (22.9%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (5.6%) | ||||||||||||||||||||
Other real estate owned | $ | 285 | Appraisal of collateral | Appraisal adjustments | 17.0% to 24.0 % (20.7%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (4.4%) | ||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||||||
Estimate | (Weighted Average) | ||||||||||||||||||||
Impaired loans | $ | 2,354 | Appraisal of collateral | Appraisal adjustments | 11.0% to 33.7% (17.3%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (5.0%) | ||||||||||||||||||||
Other real estate owned | $ | 437 | Appraisal of collateral | Appraisal adjustments | 17.0% to 24.0% (20.7%) | ||||||||||||||||
Liquidation expenses | 3.0% to 6.0% (4.4%) | ||||||||||||||||||||
Carrying and Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The carrying and fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013 and their placement within the fair value hierarchy are as follows: | |||||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
September 30, 2014 | Carrying | Fair Value | Quoted Prices in | Significant | Significant | ||||||||||||||||
Value | Active Markets | Other | Unobservable | ||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets (level 1) | Inputs | (Level 3) | |||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 34,211 | $ | 34,211 | $ | 34,211 | |||||||||||||||
Investment securities: | |||||||||||||||||||||
Available-for-sale | 350,825 | 350,825 | $ | 48,061 | $ | 302,764 | |||||||||||||||
Held-to-maturity | 15,264 | 15,516 | 15,516 | ||||||||||||||||||
Loans held for sale | 2,961 | 2,961 | 2,961 | ||||||||||||||||||
Net loans | 1,169,771 | 1,179,677 | 1,179,677 | ||||||||||||||||||
Accrued interest receivable | 5,381 | 5,381 | 5,381 | ||||||||||||||||||
Mortgage servicing rights | 824 | 1,440 | 1,440 | ||||||||||||||||||
Restricted equity securities | 4,078 | 4,078 | 4,078 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 1,425,628 | $ | 1,427,110 | 1,427,110 | ||||||||||||||||
Short-term borrowings | 6,514 | 6,514 | 6,514 | ||||||||||||||||||
Long-term debt | 34,020 | 35,577 | 35,577 | ||||||||||||||||||
Accrued interest payable | 597 | 597 | 597 | ||||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||||||
December 31, 2013 | Carrying | Fair Value | Quoted Prices in | Significant | Significant | ||||||||||||||||
Value | Active Markets | Other | Unobservable | ||||||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||||||
Assets (level 1) | Inputs | (Level 3) | |||||||||||||||||||
(level 2) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 51,310 | $ | 51,310 | $ | 51,310 | |||||||||||||||
Investment securities: | |||||||||||||||||||||
Available-for-sale | 299,715 | 299,715 | $ | 1,097 | $ | 298,618 | |||||||||||||||
Held-to-maturity | 17,295 | 17,175 | 17,175 | ||||||||||||||||||
Loans held for sale | 1,757 | 1,757 | 1,757 | ||||||||||||||||||
Net loans | 1,167,966 | 1,180,387 | $ | 1,180,387 | |||||||||||||||||
Accrued interest receivable | 5,866 | 5,866 | 5,866 | ||||||||||||||||||
Mortgage servicing rights | 880 | 1,440 | 1,440 | ||||||||||||||||||
Restricted equity securities | 4,102 | 4,102 | 4,102 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 1,379,507 | $ | 1,381,946 | 1,381,946 | ||||||||||||||||
Short-term borrowings | 22,052 | 22,052 | 22,052 | ||||||||||||||||||
Long-term debt | 36,743 | 37,468 | 37,468 | ||||||||||||||||||
Accrued interest payable | 723 | 723 | 723 |
Employee_benefit_plans_Tables
Employee benefit plans (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||
Components of Net Periodic Benefit Cost | ' | ||||||||||||||
Components of net periodic benefit cost are as follows: | |||||||||||||||
Pension Benefits | Postretirement Life | ||||||||||||||
Insurance Benefits | |||||||||||||||
Three months ended September 30, | 2014 | 2013 | 2014 | 2013 | |||||||||||
Net periodic pension cost: | |||||||||||||||
Service cost | $ | 11 | |||||||||||||
Interest cost | $ | 169 | $ | 162 | 33 | ||||||||||
Expected return on plan assets | (227 | ) | (207 | ) | |||||||||||
Amortization of prior service cost | |||||||||||||||
Amortization of unrecognized net loss | 23 | 45 | 28 | ||||||||||||
Net periodic pension cost | $ | (35 | ) | $ | $ | 72 | |||||||||
Pension Benefits | Postretirement Life | ||||||||||||||
Insurance Benefits | |||||||||||||||
Nine months ended September 30, | 2014 | 2013 | 2014 | 2013 | |||||||||||
Net periodic pension cost: | |||||||||||||||
Service cost | $ | 32 | |||||||||||||
Interest cost | $ | 507 | $ | 485 | 100 | ||||||||||
Expected return on plan assets | (681 | ) | (620 | ) | |||||||||||
Amortization of prior service cost | |||||||||||||||
Amortization of unrecognized net loss | 69 | 135 | 86 | ||||||||||||
Net periodic pension cost | $ | (105 | ) | $ | $ | 218 | |||||||||
Summary_of_significant_account2
Summary of significant accounting policies - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Office | |
Accounting Policies [Abstract] | ' |
Date of incorporation | 30-Nov-13 |
Date of Merger | 28-Jun-13 |
Effective date of Merger Agreement | 1-Dec-13 |
Number of full-service community banking offices | 26 |
Other_comprehensive_income_los2
Other comprehensive income (loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Equity [Abstract] | ' | ' |
Net unrealized gain on investment securities available-for-sale | $4,760 | $2,810 |
Related income taxes | -1,666 | -984 |
Net of income taxes | 3,094 | 1,826 |
Benefit plan adjustments | -3,883 | -3,883 |
Related income taxes | 1,359 | 1,359 |
Net of income taxes | -2,524 | -2,524 |
Accumulated other comprehensive income (loss) | $570 | ($698) |
Other_comprehensive_income_los3
Other comprehensive income (loss) - Other Comprehensive Income (Loss) and Related Tax Effects (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available-for-sale | ($825) | ($20) | $2,811 | ($3,240) |
Other comprehensive income (loss) | -1,526 | -53 | 1,950 | -3,398 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available-for-sale | -825 | -20 | 2,811 | -3,240 |
Net gain on the sale of investment securities available-for-sale | -701 | -33 | -861 | -158 |
Other comprehensive income (loss) | -1,526 | -53 | 1,950 | -3,398 |
Income tax expense (benefit) | -534 | -18 | 682 | -1,155 |
Other comprehensive income (loss) | ($992) | ($35) | $1,268 | ($2,243) |
Earnings_per_share_Additional_
Earnings per share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Anti-dilutive shares | 0 | 0 | 0 | 0 |
Earnings_per_share_Schedule_of
Earnings per share - Schedule of Earnings per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net Income (Numerator), Basic | $5,236 | $2,486 | $13,265 | $7,851 |
Average common shares outstanding (Denominator), Basic | 7,548,358 | 4,473,846 | 7,548,983 | 4,469,480 |
Earnings per share, Basic | $0.70 | $0.56 | $1.76 | $1.76 |
Net Income (Numerator), Diluted | $5,236 | $2,486 | $13,265 | $7,851 |
Average common shares outstanding (Denominator), Diluted | 7,548,358 | 4,473,846 | 7,566,456 | 4,469,480 |
Earnings per share, Diluted | $0.70 | $0.56 | $1.76 | $1.76 |
Investment_securities_Amortize
Investment securities - Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | $346,065 | $296,905 |
Available for sale, Gross Unrealized Gains | 6,063 | 3,982 |
Available for sale, Gross Unrealized Losses | 1,303 | 1,172 |
Available for sale, Fair Value | 350,825 | 299,715 |
Held to maturity, Amortized Cost | 15,264 | 17,295 |
Held to maturity, Gross Unrealized Gains | 459 | 657 |
Held to maturity, Gross Unrealized Losses | 207 | 777 |
Held to maturity, Fair Value | 15,516 | 17,175 |
State and Municipals, Taxable [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 16,534 | 16,664 |
Available for sale, Gross Unrealized Gains | 727 | 160 |
Available for sale, Gross Unrealized Losses | 25 | 126 |
Available for sale, Fair Value | 17,236 | 16,698 |
Held to maturity, Amortized Cost | ' | ' |
Held to maturity, Gross Unrealized Gains | ' | ' |
Held to maturity, Gross Unrealized Losses | ' | ' |
Held to maturity, Fair Value | ' | ' |
State and Municipals, Tax-Exempt [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 89,340 | 96,194 |
Available for sale, Gross Unrealized Gains | 4,782 | 2,267 |
Available for sale, Gross Unrealized Losses | 16 | 380 |
Available for sale, Fair Value | 94,106 | 98,081 |
Held to maturity, Amortized Cost | 7,370 | 7,372 |
Held to maturity, Gross Unrealized Gains | 14 | 11 |
Held to maturity, Gross Unrealized Losses | 207 | 777 |
Held to maturity, Fair Value | 7,177 | 6,606 |
U.S. Treasury Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 48,357 | ' |
Available for sale, Gross Unrealized Gains | ' | ' |
Available for sale, Gross Unrealized Losses | 296 | ' |
Available for sale, Fair Value | 48,061 | ' |
Corporate Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | ' | 4,433 |
Available for sale, Gross Unrealized Gains | ' | 32 |
Available for sale, Gross Unrealized Losses | ' | 78 |
Available for sale, Fair Value | ' | 4,387 |
Mortgage-Backed Securities, U.S. Government Agencies [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 39,677 | 20,386 |
Available for sale, Gross Unrealized Gains | 121 | 113 |
Available for sale, Gross Unrealized Losses | 287 | 66 |
Available for sale, Fair Value | 39,511 | 20,433 |
Held to maturity, Amortized Cost | 104 | 117 |
Held to maturity, Gross Unrealized Gains | 2 | 2 |
Held to maturity, Gross Unrealized Losses | ' | ' |
Held to maturity, Fair Value | 106 | 119 |
Mortgage-Backed Securities, U.S. Government-Sponsored Enterprises [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 50,863 | 45,251 |
Available for sale, Gross Unrealized Gains | 247 | 763 |
Available for sale, Gross Unrealized Losses | 451 | 40 |
Available for sale, Fair Value | 50,659 | 45,974 |
Held to maturity, Amortized Cost | 7,790 | 9,806 |
Held to maturity, Gross Unrealized Gains | 443 | 644 |
Held to maturity, Gross Unrealized Losses | ' | ' |
Held to maturity, Fair Value | 8,233 | 10,450 |
U.S. Government-Sponsored Enterprises State and Municipals [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | 101,294 | 113,221 |
Available for sale, Gross Unrealized Gains | 186 | 296 |
Available for sale, Gross Unrealized Losses | 228 | 472 |
Available for sale, Fair Value | 101,252 | 113,045 |
Common Stock [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available for sale, Amortized Cost | ' | 756 |
Available for sale, Gross Unrealized Gains | ' | 351 |
Available for sale, Gross Unrealized Losses | ' | 10 |
Available for sale, Fair Value | ' | $1,097 |
Investment_securities_Maturity
Investment securities - Maturity Distribution of Debt Securities Classified as Available-for-Sale (Detail) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Investments, Debt and Equity Securities [Abstract] | ' |
Within one year | $28,889 |
After one but within five years | 132,467 |
After five but within ten years | 32,136 |
After ten years | 67,163 |
Available for sale securities | 260,655 |
Mortgage-backed securities | 90,170 |
Total | $350,825 |
Investment_securities_Summary_
Investment securities - Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Amortized Cost, Within one year, Held to Maturity | ' | ' |
Amortized Cost, After one but within five years, Held to maturity | 325 | ' |
Amortized Cost, After five but within ten years, Held to maturity | 176 | ' |
Amortized Cost, After ten years, Held to maturity | 6,869 | ' |
Amortized Cost, Held to maturity | 7,370 | ' |
Amortized Cost, Mortgage-backed securities, Held to maturity | 7,894 | ' |
Total Amortized Cost, Held to maturity | 15,264 | 17,295 |
Fair Value, Within one year, Held to Maturity | ' | ' |
Fair Value, After one but within five years, Held to maturity | 333 | ' |
Fair Value, After five but within ten years, Held to maturity | 182 | ' |
Fair Value, After ten years, Held to maturity | 6,662 | ' |
Fair Value, Held to maturity | 7,177 | ' |
Fair Value, Mortgage-backed securities, Held to maturity | 8,339 | ' |
Held to maturity, Fair Value | $15,516 | $17,175 |
Investment_securities_Addition
Investment securities - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Security | Security | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Carrying value of securities pledged | $215,113 | ' | $202,407 |
Number of investment securities held | 114 | ' | 153 |
Other-than-temporary impairments recognized | $0 | $0 | ' |
State and Municipals, Tax-Exempt [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | 28 | ' | 79 |
Number of securities in continuous unrealized loss positions 12 months or longer | 9 | ' | ' |
State and Municipals, Taxable [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | 2 | ' | 16 |
U.S. Government-Sponsored Enterprises State and Municipals [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Maximum percentage of stockholders' equity exceeded for securities of any individual issuer | 10.00% | ' | 10.00% |
Number of investment securities held | 26 | ' | 39 |
Number of securities in continuous unrealized loss positions 12 months or longer | 7 | ' | 1 |
Mortgage-backed Securities, Issued by U.S. Government Agencies [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | 33 | ' | 16 |
Corporate Debt Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | ' | ' | 1 |
U.S. Treasury Securities [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | 25 | ' | ' |
Common Stock [Member] | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Number of investment securities held | ' | ' | 2 |
Investment_securities_Fair_Val
Investment securities - Fair Value and Unrealized Losses of Investment Securities in Continuous Unrealized Loss Position (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | $1,510 | $1,949 |
Total, Fair Value | 172,290 | 136,431 |
12 Months or More, Fair Value | 25,716 | 3,114 |
Less Than 12 Months, Unrealized Losses | 1,168 | 1,945 |
Less Than 12 Months, Fair Value | 146,574 | 133,317 |
State and Municipals, Taxable [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 25 | 126 |
Total, Fair Value | 1,599 | 10,621 |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | 25 | 126 |
Less Than 12 Months, Fair Value | 1,599 | 10,621 |
State and Municipals, Tax-Exempt [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 223 | 1,157 |
Total, Fair Value | 13,193 | 36,471 |
12 Months or More, Fair Value | 4,776 | ' |
Less Than 12 Months, Unrealized Losses | 35 | 1,157 |
Less Than 12 Months, Fair Value | 8,417 | 36,471 |
U.S. Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 296 | ' |
Total, Fair Value | 48,061 | ' |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | 296 | ' |
Less Than 12 Months, Fair Value | 48,061 | ' |
U.S. Government-Sponsored Enterprises State and Municipals [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 228 | 472 |
Total, Fair Value | 53,589 | 69,505 |
12 Months or More, Fair Value | 20,940 | 3,114 |
Less Than 12 Months, Unrealized Losses | 74 | 468 |
Less Than 12 Months, Fair Value | 32,649 | 66,391 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | ' | 78 |
Total, Fair Value | ' | 1,095 |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | ' | 78 |
Less Than 12 Months, Fair Value | ' | 1,095 |
Mortgage-backed Securities, Issued by U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 287 | 66 |
Total, Fair Value | 26,466 | 12,978 |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | 287 | 66 |
Less Than 12 Months, Fair Value | 26,466 | 12,978 |
Mortgage-Backed Securities, U.S. Government-Sponsored Enterprises [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | 451 | 40 |
Total, Fair Value | 29,382 | 5,624 |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | 451 | 40 |
Less Than 12 Months, Fair Value | 29,382 | 5,624 |
Common Stock [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Unrealized Losses | ' | 10 |
Total, Fair Value | ' | 137 |
12 Months or More, Fair Value | ' | ' |
Less Than 12 Months, Unrealized Losses | ' | 10 |
Less Than 12 Months, Fair Value | ' | $137 |
Loans_net_and_allowance_for_lo2
Loans, net and allowance for loan losses - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
SecurityLoan | SecurityLoan | ||||
Receivables [Abstract] | ' | ' | ' | ' | ' |
Net deferred loan costs | $526,000 | ' | $526,000 | ' | $24,000 |
Loans receivable, related parties, considered as nonaccrual, past due or restructured or potential credit risk | 2,500,000 | 344,000 | 2,500,000 | 344,000 | 2,487,000 |
Number of new loans modified as troubled debt restructurings | ' | ' | 1 | 0 | ' |
Number of defaults on loans restructured | 0 | 0 | 0 | 0 | ' |
Loan modified as troubled debt restructing | ' | ' | $2,500,000 | ' | ' |
Loans_net_and_allowance_for_lo3
Loans, net and allowance for loan losses - Major Classifications of Loans Outstanding (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | $1,179,942 | $1,176,617 |
Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 323,312 | 350,680 |
Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 456,153 | 413,058 |
Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 315,082 | 322,062 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | $85,395 | $90,817 |
Loans_net_and_allowance_for_lo4
Loans, net and allowance for loan losses - Changes in Allowance for Loan Losses Account by Major Classification of Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Real Estate Commercial [Member] | Real Estate Commercial [Member] | Real Estate Commercial [Member] | Real Estate Commercial [Member] | Real Estate Commercial [Member] | Real Estate Commercial [Member] | Real Estate Residential [Member] | Real Estate Residential [Member] | Real Estate Residential [Member] | Real Estate Residential [Member] | Real Estate Residential [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Unallocated [Member] | Unallocated [Member] | ||||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | $9,622 | $7,552 | $8,651 | $6,950 | ' | $2,201 | $1,199 | $2,008 | $799 | ' | $2,675 | $2,394 | ' | $2,304 | $2,304 | $2,304 | $3,458 | $3,092 | $3,135 | $2,981 | ' | $1,288 | $957 | $1,114 | $866 | ' | ' | ' |
Charge-offs | -177 | -216 | -1,650 | -540 | ' | ' | -5 | -376 | -5 | ' | -57 | -489 | ' | ' | ' | ' | -56 | -168 | -566 | -375 | ' | -64 | -43 | -219 | -160 | ' | ' | ' |
Recoveries | 60 | 10 | 446 | 136 | ' | 5 | ' | 6 | ' | ' | 22 | 291 | ' | ' | ' | ' | ' | 5 | 38 | 111 | ' | 33 | 5 | 111 | 25 | ' | ' | ' |
Provisions | 666 | 525 | 2,724 | 1,325 | ' | 152 | 513 | 720 | 913 | ' | 185 | 629 | ' | ' | ' | ' | 239 | -98 | 1,034 | 114 | ' | 90 | 110 | 341 | 298 | ' | ' | ' |
Ending balance | 10,171 | 7,871 | 10,171 | 7,871 | ' | 2,358 | 1,707 | 2,358 | 1,707 | ' | 2,825 | 2,825 | ' | 2,304 | 2,304 | 2,304 | 3,641 | 2,831 | 3,641 | 2,831 | ' | 1,347 | 1,029 | 1,347 | 1,029 | ' | ' | ' |
Ending balance: individually evaluated for impairment | 2,115 | ' | 2,115 | ' | 2,024 | 1,163 | ' | 1,163 | ' | 1,500 | 660 | 660 | 300 | ' | ' | ' | 275 | ' | 275 | ' | 224 | 17 | ' | 17 | ' | ' | ' | ' |
Ending balance: collectively evaluated for impairment | 8,056 | ' | 8,056 | ' | 6,627 | 1,195 | ' | 1,195 | ' | 508 | 2,165 | 2,165 | 2,094 | ' | ' | ' | 3,366 | ' | 3,366 | ' | 2,911 | 1,330 | ' | 1,330 | ' | 1,114 | ' | ' |
Ending balance: loans acquired with deteriorated credit quality | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance | 1,179,942 | ' | 1,179,942 | ' | 1,176,617 | 323,312 | ' | 323,312 | ' | 350,680 | 456,153 | 456,153 | 413,058 | ' | ' | ' | 315,082 | ' | 315,082 | ' | 322,062 | 85,395 | ' | 85,395 | ' | 90,817 | ' | ' |
Ending balance: individually evaluated for impairment | 13,919 | ' | 13,919 | ' | 15,626 | 2,721 | ' | 2,721 | ' | 4,504 | 7,799 | 7,799 | 7,711 | ' | ' | ' | 3,318 | ' | 3,318 | ' | 3,321 | 81 | ' | 81 | ' | 90 | ' | ' |
Ending balance: collectively evaluated for impairment | 1,163,181 | ' | 1,163,181 | ' | 1,153,671 | 319,179 | ' | 319,179 | ' | 343,502 | 446,985 | 446,985 | 401,168 | ' | ' | ' | 311,703 | ' | 311,703 | ' | 318,274 | 85,314 | ' | 85,314 | ' | 90,727 | ' | ' |
Ending balance: loans acquired with deteriorated credit quality | $2,842 | ' | $2,842 | ' | $7,320 | $1,412 | ' | $1,412 | ' | $2,674 | $1,369 | $1,369 | $4,179 | ' | ' | ' | $61 | ' | $61 | ' | $467 | ' | ' | ' | ' | ' | ' | ' |
Loans_net_and_allowance_for_lo5
Loans, net and allowance for loan losses - Major Classification of Loans Portfolio Summarized by Credit Quality (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | $1,179,942 | $1,176,617 |
Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 323,312 | 350,680 |
Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 456,153 | 413,058 |
Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 315,082 | 322,062 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 85,395 | 90,817 |
Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 1,133,459 | 1,124,344 |
Pass [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 311,685 | 332,257 |
Pass [Member] | Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 430,443 | 386,825 |
Pass [Member] | Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 306,007 | 314,544 |
Pass [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 85,324 | 90,718 |
Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 15,720 | 18,596 |
Special Mention [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 4,207 | 7,025 |
Special Mention [Member] | Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 10,100 | 10,701 |
Special Mention [Member] | Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 1,399 | 861 |
Special Mention [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 14 | 9 |
Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 30,763 | 33,677 |
Substandard [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 7,420 | 11,398 |
Substandard [Member] | Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 15,610 | 15,532 |
Substandard [Member] | Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 7,676 | 6,657 |
Substandard [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | 57 | 90 |
Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | ' | ' |
Doubtful [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | ' | ' |
Doubtful [Member] | Real Estate Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | ' | ' |
Doubtful [Member] | Real Estate Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | ' | ' |
Doubtful [Member] | Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, net | ' | ' |
Loans_net_and_allowance_for_lo6
Loans, net and allowance for loan losses - Information Concerning Nonaccrual Loans by Major Loan Classification (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual loans, Total | $11,324 | $14,866 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual loans, Total | 1,626 | 2,035 |
Real Estate Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual loans, Total | 6,666 | 9,172 |
Real Estate Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual loans, Total | 2,951 | 3,569 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual loans, Total | $81 | $90 |
Loans_net_and_allowance_for_lo7
Loans, net and allowance for loan losses - Major Classifications of Loans by Past Due Status (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $3,782 | $7,167 |
60-89 Days Past Due | 1,592 | 1,478 |
Greater than 90 Days | 12,279 | 16,321 |
Total Past Due | 17,653 | 24,966 |
Current | 1,162,289 | 1,151,651 |
Total Loans | 1,179,942 | 1,176,617 |
Loans > 90 Days and Accruing | 955 | 1,455 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 284 | 1,052 |
60-89 Days Past Due | 17 | 105 |
Greater than 90 Days | 1,668 | 2,041 |
Total Past Due | 1,969 | 3,198 |
Current | 321,343 | 347,482 |
Total Loans | 323,312 | 350,680 |
Loans > 90 Days and Accruing | 42 | 6 |
Real Estate Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,243 | 1,641 |
60-89 Days Past Due | 200 | 75 |
Greater than 90 Days | 6,676 | 9,372 |
Total Past Due | 8,119 | 11,088 |
Current | 448,034 | 401,970 |
Total Loans | 456,153 | 413,058 |
Loans > 90 Days and Accruing | 10 | 200 |
Real Estate Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,631 | 3,676 |
60-89 Days Past Due | 1,031 | 985 |
Greater than 90 Days | 3,502 | 4,247 |
Total Past Due | 6,164 | 8,908 |
Current | 308,918 | 313,154 |
Total Loans | 315,082 | 322,062 |
Loans > 90 Days and Accruing | 551 | 678 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 624 | 798 |
60-89 Days Past Due | 344 | 313 |
Greater than 90 Days | 433 | 661 |
Total Past Due | 1,401 | 1,772 |
Current | 83,994 | 89,045 |
Total Loans | 85,395 | 90,817 |
Loans > 90 Days and Accruing | $352 | $571 |
Loans_net_and_allowance_for_lo8
Loans, net and allowance for loan losses - Summarize Information in Concerning to Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment, With no related allowance, Total | $10,320 | $2,292 | $10,320 | $2,292 | $18,568 |
Unpaid Principal Balance, With no related allowance, Total | 13,030 | 2,292 | 13,030 | 2,292 | 26,353 |
Average Recorded Investment, With no related allowance, Total | 12,844 | 2,012 | 14,868 | 1,794 | 18,628 |
Recorded Investment, With an allowance recorded, Total | 6,441 | 4,087 | 6,441 | 4,087 | 4,378 |
Interest Income Recognized, With no related allowance, Total | 40 | ' | 132 | ' | ' |
Unpaid Principal Balance, With an allowance recorded, Total | 6,441 | 4,087 | 6,441 | 4,087 | 4,378 |
Related Allowance, With an allowance recorded, Total | 2,115 | 1,959 | 2,115 | 1,959 | 2,024 |
Average Recorded Investment, With an allowance recorded, Total | 4,922 | 4,994 | 4,072 | 3,818 | 4,263 |
Interest Income Recognized, With an allowance recorded, Total | 38 | 93 | 110 | 149 | 184 |
Recorded Investment, Total | 16,761 | 6,379 | 16,761 | 6,379 | 22,946 |
Unpaid Principal Balance, Total | 19,471 | 6,379 | 19,471 | 6,379 | 30,731 |
Related Allowance, With an allowance recorded, Total | 2,115 | 1,959 | 2,115 | 1,959 | 2,024 |
Average Recorded Investment, Total | 17,766 | 7,006 | 18,940 | 5,612 | 22,891 |
Interest Income Recognized, Total | 78 | 93 | 242 | 149 | 184 |
Commercial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment, With no related allowance, Total | 2,352 | 305 | 2,352 | 305 | 4,978 |
Unpaid Principal Balance, With no related allowance, Total | 4,076 | 305 | 4,076 | 305 | 9,474 |
Average Recorded Investment, With no related allowance, Total | 2,501 | 82 | 2,771 | 213 | 5,824 |
Recorded Investment, With an allowance recorded, Total | 1,781 | 2,064 | 1,781 | 2,064 | 2,200 |
Interest Income Recognized, With no related allowance, Total | 19 | ' | 71 | ' | ' |
Unpaid Principal Balance, With an allowance recorded, Total | 1,781 | 2,064 | 1,781 | 2,064 | 2,200 |
Related Allowance, With an allowance recorded, Total | 1,163 | 1,464 | 1,163 | 1,464 | 1,500 |
Average Recorded Investment, With an allowance recorded, Total | 1,769 | 3,226 | 1,825 | 1,440 | 2,182 |
Interest Income Recognized, With an allowance recorded, Total | 20 | 70 | 63 | 82 | 95 |
Recorded Investment, Total | 4,133 | 2,369 | 4,133 | 2,369 | 7,178 |
Unpaid Principal Balance, Total | 5,857 | 2,369 | 5,857 | 2,369 | 11,674 |
Related Allowance, With an allowance recorded, Total | 1,163 | 1,464 | 1,163 | 1,464 | 1,500 |
Average Recorded Investment, Total | 4,270 | 3,308 | 4,596 | 1,653 | 8,006 |
Interest Income Recognized, Total | 39 | 70 | 134 | 82 | 95 |
Real Estate Commercial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment, With no related allowance, Total | 5,275 | 267 | 5,275 | 267 | 10,496 |
Unpaid Principal Balance, With no related allowance, Total | 6,074 | 267 | 6,074 | 267 | 13,352 |
Average Recorded Investment, With no related allowance, Total | 7,587 | 293 | 9,238 | 289 | 10,095 |
Recorded Investment, With an allowance recorded, Total | 3,893 | 1,424 | 3,893 | 1,424 | 1,394 |
Interest Income Recognized, With no related allowance, Total | 20 | ' | 58 | ' | ' |
Unpaid Principal Balance, With an allowance recorded, Total | 3,893 | 1,424 | 3,893 | 1,424 | 1,394 |
Related Allowance, With an allowance recorded, Total | 660 | 300 | 660 | 300 | 300 |
Average Recorded Investment, With an allowance recorded, Total | 2,640 | 1,396 | 1,816 | 1,435 | 1,409 |
Interest Income Recognized, With an allowance recorded, Total | 14 | 19 | 43 | 57 | 76 |
Recorded Investment, Total | 9,168 | 1,691 | 9,168 | 1,691 | 11,890 |
Unpaid Principal Balance, Total | 9,967 | 1,691 | 9,967 | 1,691 | 14,746 |
Related Allowance, With an allowance recorded, Total | 660 | 300 | 660 | 300 | 300 |
Average Recorded Investment, Total | 10,227 | 1,689 | 11,054 | 1,724 | 11,504 |
Interest Income Recognized, Total | 34 | 19 | 101 | 57 | 76 |
Real Estate Residential [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment, With no related allowance, Total | 2,629 | 1,621 | 2,629 | 1,621 | 3,004 |
Unpaid Principal Balance, With no related allowance, Total | 2,816 | 1,621 | 2,816 | 1,621 | 3,437 |
Average Recorded Investment, With no related allowance, Total | 2,675 | 1,552 | 2,758 | 1,217 | 2,614 |
Recorded Investment, With an allowance recorded, Total | 750 | 599 | 750 | 599 | 784 |
Interest Income Recognized, With no related allowance, Total | 1 | ' | 3 | ' | ' |
Unpaid Principal Balance, With an allowance recorded, Total | 750 | 599 | 750 | 599 | 784 |
Related Allowance, With an allowance recorded, Total | 275 | 195 | 275 | 195 | 224 |
Average Recorded Investment, With an allowance recorded, Total | 504 | 372 | 428 | 943 | 672 |
Interest Income Recognized, With an allowance recorded, Total | 4 | 4 | 4 | 10 | 13 |
Recorded Investment, Total | 3,379 | 2,220 | 3,379 | 2,220 | 3,788 |
Unpaid Principal Balance, Total | 3,566 | 2,220 | 3,566 | 2,220 | 4,221 |
Related Allowance, With an allowance recorded, Total | 275 | 195 | 275 | 195 | 224 |
Average Recorded Investment, Total | 3,179 | 1,924 | 3,186 | 2,160 | 3,286 |
Interest Income Recognized, Total | 5 | 4 | 7 | 10 | 13 |
Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment, With no related allowance, Total | 64 | 99 | 64 | 99 | 90 |
Unpaid Principal Balance, With no related allowance, Total | 64 | 99 | 64 | 99 | 90 |
Average Recorded Investment, With no related allowance, Total | 81 | 85 | 101 | 75 | 95 |
Recorded Investment, With an allowance recorded, Total | 17 | ' | 17 | ' | ' |
Interest Income Recognized, With no related allowance, Total | ' | ' | ' | ' | ' |
Unpaid Principal Balance, With an allowance recorded, Total | 17 | ' | 17 | ' | ' |
Related Allowance, With an allowance recorded, Total | 17 | ' | 17 | ' | ' |
Average Recorded Investment, With an allowance recorded, Total | 9 | ' | 3 | ' | ' |
Interest Income Recognized, With an allowance recorded, Total | ' | ' | ' | ' | ' |
Recorded Investment, Total | 81 | 99 | 81 | 99 | 90 |
Unpaid Principal Balance, Total | 81 | 99 | 81 | 99 | 90 |
Related Allowance, With an allowance recorded, Total | 17 | ' | 17 | ' | ' |
Average Recorded Investment, Total | 90 | 85 | 104 | 75 | 95 |
Interest Income Recognized, Total | ' | ' | ' | ' | ' |
Other_assets_Components_of_Oth
Other assets - Components of Other Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ' |
Other real estate owned | $840 | $648 |
Investment in residential housing program | 3,021 | 3,211 |
Mortgage servicing rights | 824 | 880 |
Bank owned life insurance | 29,790 | 29,198 |
Restricted equity securities | 4,078 | 4,102 |
Other assets | 12,924 | 9,949 |
Total | $51,477 | $47,988 |
Fair_value_estimates_Schedule_
Fair value estimates - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Recurring Fair Value Measurements [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
U.S. Treasury securities | $48,061 | ' |
U.S. Government-sponsored enterprises | 101,252 | 113,045 |
State and Municipals: | ' | ' |
Taxable | 17,236 | 16,698 |
Tax-exempt | 94,106 | 98,081 |
Corporate debt securities | ' | 4,387 |
Mortgage-backed securities: | ' | ' |
U.S. Government agencies | 39,511 | 20,433 |
U.S. Government-sponsored enterprises | 50,659 | 45,974 |
Common equity securities | ' | 1,097 |
Total | 350,825 | 299,715 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
U.S. Treasury securities | 48,061 | ' |
U.S. Government-sponsored enterprises | ' | ' |
State and Municipals: | ' | ' |
Taxable | ' | ' |
Tax-exempt | ' | ' |
Corporate debt securities | ' | ' |
Mortgage-backed securities: | ' | ' |
U.S. Government agencies | ' | ' |
U.S. Government-sponsored enterprises | ' | ' |
Common equity securities | ' | 1,097 |
Total | 48,061 | 1,097 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
U.S. Government-sponsored enterprises | 101,252 | 113,045 |
State and Municipals: | ' | ' |
Taxable | 17,236 | 16,698 |
Tax-exempt | 94,106 | 98,081 |
Corporate debt securities | ' | 4,387 |
Mortgage-backed securities: | ' | ' |
U.S. Government agencies | 39,511 | 20,433 |
U.S. Government-sponsored enterprises | 50,659 | 45,974 |
Common equity securities | ' | ' |
Total | 302,764 | 298,618 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
U.S. Government-sponsored enterprises | ' | ' |
State and Municipals: | ' | ' |
Taxable | ' | ' |
Tax-exempt | ' | ' |
Corporate debt securities | ' | ' |
Mortgage-backed securities: | ' | ' |
U.S. Government agencies | ' | ' |
U.S. Government-sponsored enterprises | ' | ' |
Common equity securities | ' | ' |
Total | ' | ' |
Fair_value_estimates_Schedule_1
Fair value estimates - Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) (Nonrecurring Fair Value Measurements [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $1,826 | $2,354 |
Other real estate owned | 285 | 437 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | ' | ' |
Other real estate owned | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | ' | ' |
Other real estate owned | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 1,826 | 2,354 |
Other real estate owned | $285 | $437 |
Fair_value_estimates_Additiona
Fair value estimates - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Detail) (Nonrecurring Fair Value Measurements [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Other Real Estate Owned [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 20.70% | 20.70% |
Range and weighted average of liquidation expenses | 4.40% | 4.40% |
Other Real Estate Owned [Member] | Minimum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 17.00% | 17.00% |
Range and weighted average of liquidation expenses | 3.00% | 3.00% |
Other Real Estate Owned [Member] | Maximum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 24.00% | 24.00% |
Range and weighted average of liquidation expenses | 6.00% | 6.00% |
Impaired Loans [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 22.90% | 17.30% |
Range and weighted average of liquidation expenses | 5.60% | 5.00% |
Impaired Loans [Member] | Minimum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 2.60% | 11.00% |
Range and weighted average of liquidation expenses | 3.00% | 3.00% |
Impaired Loans [Member] | Maximum [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Range and weighted average of appraisal adjustments | 74.00% | 33.70% |
Range and weighted average of liquidation expenses | 6.00% | 6.00% |
Significant Unobservable Inputs (Level 3) [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Assets, Fair Value Estimate | $285 | $437 |
Valuation Techniques | 'Appraisal of collateral | ' |
Unobservable Input | 'Appraisal adjustments | ' |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Assets, Fair Value Estimate | $1,826 | $2,354 |
Valuation Techniques | 'Appraisal of collateral | ' |
Unobservable Input | 'Appraisal adjustments | ' |
Fair_value_estimates_Carrying_
Fair value estimates - Carrying and Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment securities: | ' | ' |
Available-for-sale | $350,825 | $299,715 |
Held-to-maturity | 15,516 | 17,175 |
Mortgage servicing rights | 824 | 880 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 34,211 | 51,310 |
Investment securities: | ' | ' |
Available-for-sale | 48,061 | 1,097 |
Held-to-maturity | ' | ' |
Loans held for sale | ' | ' |
Net loans | ' | ' |
Accrued interest receivable | ' | ' |
Mortgage servicing rights | ' | ' |
Restricted equity securities | ' | ' |
Financial liabilities: | ' | ' |
Deposits | ' | ' |
Short-term borrowings | ' | ' |
Long-term debt | ' | ' |
Accrued interest payable | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | ' | ' |
Investment securities: | ' | ' |
Available-for-sale | 302,764 | 298,618 |
Held-to-maturity | 15,516 | 17,175 |
Loans held for sale | 2,961 | 1,757 |
Net loans | ' | ' |
Accrued interest receivable | 5,381 | 5,866 |
Mortgage servicing rights | 1,440 | 1,440 |
Restricted equity securities | 4,078 | 4,102 |
Financial liabilities: | ' | ' |
Deposits | 1,427,110 | 1,381,946 |
Short-term borrowings | 6,514 | 22,052 |
Long-term debt | 35,577 | 37,468 |
Accrued interest payable | 597 | 723 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | ' | ' |
Investment securities: | ' | ' |
Available-for-sale | ' | ' |
Held-to-maturity | ' | ' |
Loans held for sale | ' | ' |
Net loans | 1,179,677 | 1,180,387 |
Accrued interest receivable | ' | ' |
Mortgage servicing rights | ' | ' |
Restricted equity securities | ' | ' |
Financial liabilities: | ' | ' |
Deposits | ' | ' |
Short-term borrowings | ' | ' |
Long-term debt | ' | ' |
Accrued interest payable | ' | ' |
Carrying Value [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 34,211 | 51,310 |
Investment securities: | ' | ' |
Available-for-sale | 350,825 | 299,715 |
Held-to-maturity | 15,264 | 17,295 |
Loans held for sale | 2,961 | 1,757 |
Net loans | 1,169,771 | 1,167,966 |
Accrued interest receivable | 5,381 | 5,866 |
Mortgage servicing rights | 824 | 880 |
Restricted equity securities | 4,078 | 4,102 |
Financial liabilities: | ' | ' |
Deposits | 1,425,628 | 1,379,507 |
Short-term borrowings | 6,514 | 22,052 |
Long-term debt | 34,020 | 36,743 |
Accrued interest payable | 597 | 723 |
Fair Value [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 34,211 | 51,310 |
Investment securities: | ' | ' |
Available-for-sale | 350,825 | 299,715 |
Held-to-maturity | 15,516 | 17,175 |
Loans held for sale | 2,961 | 1,757 |
Net loans | 1,179,677 | 1,180,387 |
Accrued interest receivable | 5,381 | 5,866 |
Mortgage servicing rights | 1,440 | 1,440 |
Restricted equity securities | 4,078 | 4,102 |
Financial liabilities: | ' | ' |
Deposits | 1,427,110 | 1,381,946 |
Short-term borrowings | 6,514 | 22,052 |
Long-term debt | 35,577 | 37,468 |
Accrued interest payable | $597 | $723 |
Employee_benefit_plans_Additio
Employee benefit plans - Additional Information (Detail) (Employee Benefit Plans [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Employee Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Salaries and employee benefits expense | $581 | $378 | $1,744 | $1,135 |
Employee_benefit_plans_Compone
Employee benefit plans - Components of Net Periodic Benefit Cost (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Postretirement Life Insurance Benefits [Member] | ' | ' | ' | ' |
Net periodic pension cost: | ' | ' | ' | ' |
Service cost | ' | $11 | ' | $32 |
Interest cost | ' | 33 | ' | 100 |
Expected return on plan assets | ' | ' | ' | ' |
Amortization of prior service cost | ' | ' | ' | ' |
Amortization of unrecognized net loss | ' | 28 | ' | 86 |
Net periodic pension cost | ' | 72 | ' | 218 |
Pension Benefits [Member] | ' | ' | ' | ' |
Net periodic pension cost: | ' | ' | ' | ' |
Service cost | ' | ' | ' | ' |
Interest cost | 169 | 162 | 507 | 485 |
Expected return on plan assets | -227 | -207 | -681 | -620 |
Amortization of prior service cost | ' | ' | ' | ' |
Amortization of unrecognized net loss | 23 | 45 | 69 | 135 |
Net periodic pension cost | ($35) | ' | ($105) | ' |