Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 07, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'LCNB CORP | ' |
Entity Central Index Key | '0001074902 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 9,283,186 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS: | ' | ' |
Cash and due from banks | $14,563 | $11,260 |
Interest-bearing demand deposits | 124 | 2,215 |
Total cash and cash equivalents | 14,687 | 13,475 |
Investment securities: | ' | ' |
Available-for-sale, at fair value | 271,304 | 258,506 |
Held-to-maturity, at cost | 21,058 | 15,424 |
Federal Reserve Bank stock, at cost | 1,603 | 949 |
Federal Home Loan Bank stock, at cost | 2,854 | 2,091 |
Loans, net | 562,686 | 450,346 |
Premises and equipment, net | 20,058 | 16,564 |
Goodwill | 13,971 | 5,915 |
Bank owned life insurance | 21,115 | 16,915 |
Other assets | 13,013 | 8,452 |
TOTAL ASSETS | 942,349 | 788,637 |
Deposits: | ' | ' |
Noninterest-bearing | 159,453 | 133,848 |
Interest-bearing | 648,882 | 537,623 |
Total deposits | 808,335 | 671,471 |
Short-term borrowings | 22,811 | 13,756 |
Long-term debt | 12,446 | 13,705 |
Accrued interest and other liabilities | 6,542 | 7,699 |
TOTAL LIABILITIES | 850,134 | 706,631 |
SHAREHOLDERS' EQUITY: | ' | ' |
Preferred shares – no par value, authorized 1,000,000 shares, none outstanding | 0 | 0 |
Common shares – no par value, authorized 12,000,000 shares, issued 8,393,790 and 7,485,527 shares at September 30, 2013 and December 31, 2012, respectively | 39,774 | 27,107 |
Retained earnings | 64,614 | 61,843 |
Treasury shares at cost, 753,627 shares at September 30, 2013 and December 31, 2012 | -11,665 | -11,665 |
Accumulated other comprehensive income, net of taxes | -508 | 4,721 |
TOTAL SHAREHOLDERS' EQUITY | 92,215 | 82,006 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $942,349 | $788,637 |
LCNB_CORP_AND_SUBSIDIARIES_CON
LCNB CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
SHAREHOLDERS' EQUITY: | ' | ' |
Preferred shares, par value (in dollars per share) | $0 | $0 |
Preferred shares, shares authorized | 1,000,000 | 1,000,000 |
Preferred shares, shares outstanding | 0 | 0 |
Common shares, par value (in dollars per share) | $0 | $0 |
Common shares, shares authorized | 12,000,000 | 12,000,000 |
Common shares, shares issued | 8,393,790 | 7,485,527 |
Treasury shares | 753,627 | 753,627 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
INTEREST INCOME: | ' | ' | ' | ' |
Interest and fees on loans | $6,902 | $5,822 | $20,298 | $17,950 |
Interest on investment securities – | ' | ' | ' | ' |
Taxable | 862 | 941 | 2,556 | 2,810 |
Non-taxable | 654 | 615 | 1,932 | 1,831 |
Other short-term investments | 32 | 26 | 145 | 115 |
TOTAL INTEREST INCOME | 8,450 | 7,404 | 24,931 | 22,706 |
INTEREST EXPENSE: | ' | ' | ' | ' |
Interest on deposits | 875 | 1,050 | 2,789 | 3,332 |
Interest on short-term borrowings | 11 | 4 | 18 | 12 |
Interest on long-term debt | 109 | 136 | 331 | 440 |
TOTAL INTEREST EXPENSE | 995 | 1,190 | 3,138 | 3,784 |
NET INTEREST INCOME | 7,455 | 6,214 | 21,793 | 18,922 |
PROVISION FOR LOAN LOSSES | 178 | 436 | 369 | 742 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 7,277 | 5,778 | 21,424 | 18,180 |
NON-INTEREST INCOME: | ' | ' | ' | ' |
Trust income | 626 | 530 | 1,810 | 1,769 |
Service charges and fees on deposit accounts | 1,062 | 911 | 3,114 | 2,698 |
Net gain on sales of securities | 58 | 427 | 753 | 886 |
Bank owned life insurance income | 168 | 145 | 512 | 432 |
Gains from sales of mortgage loans | 57 | 151 | 305 | 360 |
Other operating income | 76 | 41 | 238 | 151 |
TOTAL NON-INTEREST INCOME | 2,047 | 2,205 | 6,732 | 6,296 |
NON-INTEREST EXPENSE: | ' | ' | ' | ' |
Salaries and employee benefits | 3,247 | 3,059 | 9,783 | 9,004 |
Equipment expenses | 318 | 263 | 908 | 789 |
Occupancy expense, net | 505 | 445 | 1,529 | 1,242 |
State franchise tax | 208 | 193 | 635 | 595 |
Marketing | 145 | 129 | 446 | 409 |
FDIC insurance premiums | 128 | 83 | 375 | 298 |
Other non-interest expense | 1,612 | 1,392 | 5,902 | 4,005 |
TOTAL NON-INTEREST EXPENSE | 6,163 | 5,564 | 19,578 | 16,342 |
INCOME BEFORE INCOME TAXES | 3,161 | 2,419 | 8,578 | 8,134 |
PROVISION FOR INCOME TAXES | 804 | 572 | 2,145 | 2,023 |
NET INCOME | $2,357 | $1,847 | $6,433 | $6,111 |
Dividends declared per common share (in dollars per share) | $0.16 | $0.16 | $0.48 | $0.48 |
Earnings per common share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.31 | $0.27 | $0.85 | $0.91 |
Diluted (in dollars per share) | $0.30 | $0.27 | $0.83 | $0.90 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic (in shares) | 7,636,098 | 6,721,699 | 7,592,818 | 6,713,959 |
Diluted (in shares) | 7,787,098 | 6,797,675 | 7,722,686 | 6,787,000 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $2,357 | $1,847 | $6,433 | $6,111 |
Other comprehensive income: | ' | ' | ' | ' |
Net unrealized gain (loss) on available-for-sale securities (net of taxes of $391 and $556 for the three months ended September 30, 2013 and 2012, respectively, and $2,452 and $787 for the nine months ended September 30, 2013 and 2012, respectively) | 760 | 1,080 | -4,758 | 1,529 |
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income (net of taxes of $20 and $145 for the three months ended September 30, 2013 and 2012, respectively, and $256 and $300 for the nine months ended September 30, 2013 and 2012, respectively) | -38 | -282 | -497 | -586 |
Change in nonqualified pension plan unrecognized net loss and unrecognized prior service cost (net of taxes of $5 and $4 for the three months ended September 30, 2013 and 2012, respectively, and $14 and $12 for the nine months ended September 30, 2013 and 2012, respectively) | 8 | 9 | 26 | 25 |
TOTAL COMPREHENSIVE INCOME | $3,087 | $2,654 | $1,204 | $7,079 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other comprehensive income: | ' | ' | ' | ' |
Net unrealized gain (loss) on available-for-sale securities, taxes | $391 | $556 | $2,452 | $787 |
Net realized gain on sale of available-for-sale securities included in net income, taxes | 20 | 145 | 256 | 300 |
Change in nonqualified pension plan unrecognized net loss and unrecognized prior service cost, taxes | $5 | $4 | $14 | $12 |
CONSOLIDATED_STATEMENTS_OF_SHA
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (USD $) | Total | Common Stock [Member] | Retained Earnings [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data, unless otherwise specified | |||||
Balance Beginning at Dec. 31, 2011 | $77,960 | $26,753 | $57,877 | ($11,698) | $5,028 |
Balance Beginning (in shares) at Dec. 31, 2011 | ' | 6,704,723 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Dividend Reinvestment and Stock Purchase Plan (in shares) | ' | 19,640 | ' | ' | ' |
Exercise of stock options (in shares) | ' | 2,144 | ' | ' | ' |
Net income | 6,111 | ' | 6,111 | ' | ' |
Net unrealized gain on available-for-sale securities, net of taxes | 1,529 | ' | ' | ' | 1,529 |
Reclassification adjustment for net realized gain on sales of available-for-sale securities included in net income, net of taxes | -586 | ' | ' | ' | -586 |
Change in nonqualified pension plan unrecognized net loss and unrecognized prior service cost, net of taxes | 25 | ' | ' | ' | 25 |
Dividend Reinvestment and Stock Purchase Plan | 257 | 257 | ' | ' | ' |
Exercise of stock options | 28 | ' | -5 | 33 | ' |
Compensation expense relating to stock options | 30 | 30 | ' | ' | ' |
Common stock dividends, $0.48 per share | -3,223 | ' | -3,223 | ' | ' |
Balance Ending at Sep. 30, 2012 | 82,131 | 27,040 | 60,760 | -11,665 | 5,996 |
Balance Ending (in shares) at Sep. 30, 2012 | ' | 6,726,507 | ' | ' | ' |
Balance Beginning at Dec. 31, 2012 | 82,006 | 27,107 | 61,843 | -11,665 | 4,721 |
Balance Beginning (in shares) at Dec. 31, 2012 | ' | 6,731,900 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Dividend Reinvestment and Stock Purchase Plan (in shares) | ' | 13,832 | ' | ' | ' |
Exercise of stock options (in shares) | ' | 5,620 | ' | ' | ' |
Acquisition of First Capital Bancshares, Inc. (in shares) | ' | 888,811 | ' | ' | ' |
Net income | 6,433 | ' | 6,433 | ' | ' |
Net unrealized gain on available-for-sale securities, net of taxes | -4,758 | ' | ' | ' | -4,758 |
Reclassification adjustment for net realized gain on sales of available-for-sale securities included in net income, net of taxes | -497 | ' | ' | ' | -497 |
Change in nonqualified pension plan unrecognized net loss and unrecognized prior service cost, net of taxes | 26 | ' | ' | ' | 26 |
Dividend Reinvestment and Stock Purchase Plan | 248 | 248 | ' | ' | ' |
Exercise of stock options | 70 | 70 | ' | ' | ' |
Acquisition of First Capital Bancshares, Inc. | 12,321 | 12,321 | ' | ' | ' |
Compensation expense relating to stock options | 28 | 28 | ' | ' | ' |
Common stock dividends, $0.48 per share | -3,662 | ' | -3,662 | ' | ' |
Balance Ending at Sep. 30, 2013 | $92,215 | $39,774 | $64,614 | ($11,665) | ($508) |
Balance Ending (in shares) at Sep. 30, 2013 | ' | 7,640,163 | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_SHA1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' |
Common stock dividends (in dollars per share) | $0.16 | $0.16 | $0.48 | $0.48 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $6,433 | $6,111 |
Adjustments to reconcile net income to net cash flows from operating activities: | ' | ' |
Depreciation, amortization, and accretion | 1,886 | 2,339 |
Provision for loan losses | 369 | 742 |
Increase in cash surrender value of bank owned life insurance | -512 | -432 |
Realized (gain) loss from sales of securities available-for-sale | -753 | -886 |
Realized (gain) loss from sales of premises and equipment | -1 | -10 |
Realized (gain) loss from sales and write-downs of other real estate owned and repossessed assets | -175 | 80 |
Origination of mortgage loans for sale | -16,831 | -19,328 |
Realized gains from sales of mortgage loans | -305 | -360 |
Proceeds from sales of mortgage loans | 16,970 | 19,492 |
Compensation expense related to stock options | 28 | 30 |
Changes in: | ' | ' |
Accrued income receivable | -802 | -650 |
Other assets | 745 | 358 |
Other liabilities | -239 | 314 |
TOTAL ADJUSTMENTS | 380 | 1,689 |
CASH FLOWS FROM INVESTING ACTIVITIES: | 6,813 | 7,800 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Proceeds from sales of investment securities available-for-sale | 41,888 | 64,002 |
Proceeds from maturities and calls of investment securities: | ' | ' |
Available-for-sale | 15,724 | 22,759 |
Held-to-maturity | 4,437 | 1,563 |
Purchases of investment securities: | ' | ' |
Available-for-sale | -57,106 | -97,344 |
Held-to-maturity | -9,687 | -3,332 |
Purchase of Federal Reserve Bank stock | -497 | -8 |
Net (increase) decrease in loans | -13,446 | 2,248 |
Purchase of bank owned life insurance | 0 | -1,500 |
Proceeds from sale of other real estate owned and repossessed assets | 1,062 | 20 |
Additions to other real estate owned | 0 | -16 |
Purchases of premises and equipment | -614 | -403 |
Proceeds from sale of premises and equipment | 1 | 13 |
Net cash acquired from acquisition | 9,771 | 0 |
NET CASH FLOWS FROM INVESTING ACTIVITIES | -8,467 | -11,998 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Net increase (decrease) in deposits | 206 | 37,518 |
Net increase (decrease) in short-term borrowings | 9,055 | -9,520 |
Principal payments on long-term debt | -3,051 | -7,324 |
Proceeds from issuance of common stock | 32 | 41 |
Proceeds from exercise of stock options | 70 | 28 |
Cash dividends paid on common stock | -3,446 | -3,006 |
NET CASH FLOWS FROM FINANCING ACTIVITIES | 2,866 | 17,737 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,212 | 13,539 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 13,475 | 19,535 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 14,687 | 33,074 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ' | ' |
Interest paid | 3,150 | 3,857 |
Income taxes paid | 2,715 | 1,735 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES: | ' | ' |
Transfer from loans to other real estate owned and repossessed assets | $133 | $755 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Note 1 - Basis of Presentation | |
Substantially all of the assets, liabilities and operations of LCNB Corp. ("LCNB" or the "Company") are attributable to its wholly-owned subsidiary, LCNB National Bank (the "Bank"). The accompanying unaudited consolidated financial statements include the accounts of LCNB and the Bank. | |
The unaudited interim consolidated financial statements, which have been reviewed by J.D. Cloud & Co. L.L.P., LCNB's independent registered public accounting firm, in accordance with standards established by the Public Company Accounting Oversight Board, as indicated by their report included herein and which does not express an opinion on those statements, have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited interim consolidated financial statements include all adjustments (consisting of normal, recurring accruals) considered necessary for a fair presentation of financial position, results of operations, and cash flows for the interim periods, as required by Regulation S-X, Rule 10-01. | |
Certain prior period data presented in the financial statements have been reclassified to conform with the current year presentation. | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year ending December 31, 2013. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements, accounting policies, and financial notes thereto included in LCNB's 2012 Annual Report on Form 10-K filed with the SEC. |
Acquisition
Acquisition | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||
Acquisition | ' | |||||||||||||
Note 2 – Acquisition | ||||||||||||||
On October 9, 2012, LCNB and First Capital Bancshares, Inc. ("First Capital") entered into an Agreement and Plan of Merger ("Merger Agreement") pursuant to which First Capital was merged into LCNB on January 11, 2013 in a stock and cash transaction valued at approximately $20.2 million. Immediately following the merger of First Capital into LCNB, Citizens National Bank of Chillicothe ("Citizens"), a wholly-owned subsidiary of First Capital, was merged into LCNB National Bank. Citizens operated six full–service branches with a main office and two other facilities in Chillicothe, Ohio and one branch in each of Frankfort, Ohio, Clarksburg, Ohio, and Washington Court House, Ohio. These offices became branches of the Bank after the merger. | ||||||||||||||
Under the terms of the Merger Agreement, each shareholder of First Capital common stock was entitled to elect to receive, for each share of First Capital Common Stock, (i) $30.76 in cash, (ii) 2.329 common shares of LCNB (subject to an adjustment based upon the average closing price of LCNB common shares for the 25 trading days prior to the effective date of the merger), or (iii) a combination of cash and LCNB common stock. A First Capital shareholder's election to receive cash or stock was subject to allocation procedures that ensured that no more than 50% and no less than 40% of the outstanding First Capital shares were exchanged for cash and that no more than 60% and no less than 50% of the outstanding First Capital shares were exchanged for LCNB common shares. | ||||||||||||||
The merger with First Capital was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration paid were recorded at their estimated fair values as of the merger date, as summarized in the following table (in thousands): | ||||||||||||||
Consideration Paid: | ||||||||||||||
Common shares issued (888,811) | $ | 12,354 | ||||||||||||
Cash paid to shareholders | 7,828 | |||||||||||||
Total value of consideration paid | 20,182 | |||||||||||||
Identifiable Assets Acquired: | ||||||||||||||
Cash and cash equivalents | 17,632 | |||||||||||||
Investment securities: | ||||||||||||||
Available-for-sale | 21,606 | |||||||||||||
Held-to-maturity | 384 | |||||||||||||
Federal Reserve Bank stock | 157 | |||||||||||||
Federal Home Loan Bank stock | 763 | |||||||||||||
Loans | 98,906 | |||||||||||||
Premises and equipment | 3,949 | |||||||||||||
Bank owned life insurance | 3,687 | |||||||||||||
Core deposit intangible | 2,574 | |||||||||||||
Other real estate owned | 127 | |||||||||||||
Deferred income taxes | 409 | |||||||||||||
Other assets | 1,369 | |||||||||||||
Total identifiable assets acquired | 151,563 | |||||||||||||
Liabilities Assumed: | ||||||||||||||
Deposits | 136,823 | |||||||||||||
Long-term debt | 1,792 | |||||||||||||
Other liabilities | 822 | |||||||||||||
Total liabilities assumed | 139,437 | |||||||||||||
Total Identifiable Net Assets Acquired | 12,126 | |||||||||||||
Goodwill resulting from merger | $ | 8,056 | ||||||||||||
The amount of goodwill recorded reflects LCNB's entrance into a new market and related synergies that are expected to result from the acquisition and represents the excess purchase price over the estimated fair value of the net assets acquired. The goodwill will not be amortizable and is not deductible for tax purposes. The core deposit intangible will be amortized over nine years using the straight-line method. | ||||||||||||||
The following table details the changes in fair value of net assets acquired and liabilities assumed from the amounts reported in the Form 10-Q for the period ending June 30, 2013 (in thousands): | ||||||||||||||
Goodwill at June 30, 2013 | $ | 8,258 | ||||||||||||
Effect of adjustments to: | ||||||||||||||
Deferred income taxes | 18 | |||||||||||||
Other assets | (220 | ) | ||||||||||||
Goodwill at September 30, 2013 | $ | 8,056 | ||||||||||||
Management believes that acquisition method adjustments are substantially complete at September 30, 2013. | ||||||||||||||
Direct costs related to the acquisition were expensed as incurred and are recorded in other non-interest expense in the consolidated statements of income. During the first nine months of 2013, LCNB incurred $1,326,000 in merger and acquisition integration expenses related to the transaction, including $603,000 in merger related costs and $723,000 for converting Citizens data processing system to LCNB's system. | ||||||||||||||
The results of operations are included in the consolidated statement of income from the date of the merger. The estimated amount of Citizens revenue (net interest income plus non-interest income) and net income, excluding merger and data conversion costs, included in LCNB's consolidated statement of income for the three and nine months ended September 30, 2013 were as follows (in thousands): | ||||||||||||||
Three Months | Nine Months | |||||||||||||
Total revenue | $ | 1,676 | 4,561 | |||||||||||
Net income | 750 | 1,898 | ||||||||||||
The following table presents unaudited pro forma information as if the merger with First Capital had occurred on January 1, 2012 (in thousands). This pro forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of the core deposit intangible, and related income tax effects. It does not include merger and data conversion costs. The pro forma information does not necessarily reflect the results of operations that would have occurred had the merger with First Capital occurred in 2012. In particular, expected operational cost savings are not reflected in the pro forma amounts. | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Total revenue | $ | 9,502 | 10,067 | 28,728 | 30,446 | |||||||||
Net income | 2,358 | 2,097 | 7,000 | 7,027 | ||||||||||
Basic earnings per common share | 0.31 | 0.27 | 0.92 | 0.92 | ||||||||||
Diluted earnings per common share | 0.3 | 0.27 | 0.9 | 0.91 | ||||||||||
Investment_Securities
Investment Securities | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||
Investment Securities | ' | |||||||||||||
Note 3 - Investment Securities | ||||||||||||||
The amortized cost and estimated fair value of available-for-sale investment securities at September 30, 2013 and December 31, 2012 are summarized as follows (in thousands): | ||||||||||||||
30-Sep-13 | ||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
U.S. Treasury notes | $ | 8,904 | — | 197 | 8,707 | |||||||||
U.S. Agency notes | 113,475 | 340 | 3,036 | 110,779 | ||||||||||
U.S. Agency mortgage-backed securities | 45,723 | 721 | 868 | 45,576 | ||||||||||
Certificates of deposit with other banks | 1,492 | 9 | — | 1,501 | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 78,822 | 2,480 | 793 | 80,509 | ||||||||||
Taxable | 19,157 | 668 | 140 | 19,685 | ||||||||||
Mutual funds | 2,408 | — | 23 | 2,385 | ||||||||||
Trust preferred securities | 149 | 3 | 5 | 147 | ||||||||||
Equity securities | 1,751 | 317 | 53 | 2,015 | ||||||||||
$ | 271,881 | 4,538 | 5,115 | 271,304 | ||||||||||
31-Dec-12 | ||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
U.S. Treasury notes | $ | 18,462 | 224 | — | 18,686 | |||||||||
U.S. Agency notes | 89,372 | 1,364 | 130 | 90,606 | ||||||||||
U.S. Agency mortgage-backed securities | 51,121 | 1,444 | 24 | 52,541 | ||||||||||
Corporate securities | 3,032 | 35 | — | 3,067 | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 70,504 | 3,497 | 119 | 73,882 | ||||||||||
Taxable | 14,851 | 993 | 3 | 15,841 | ||||||||||
Mutual funds | 2,138 | 30 | — | 2,168 | ||||||||||
Trust preferred securities | 250 | 2 | 7 | 245 | ||||||||||
Equity securities | 1,390 | 106 | 26 | 1,470 | ||||||||||
$ | 251,120 | 7,695 | 309 | 258,506 | ||||||||||
The fair value of held-to-maturity investment securities, consisting of taxable and non-taxable municipal securities, approximates amortized cost at September 30, 2013 and December 31, 2012. | ||||||||||||||
Information concerning available-for-sale investment securities with gross unrealized losses at September 30, 2013, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands): | ||||||||||||||
Less than Twelve Months | Twelve Months or Greater | |||||||||||||
Fair | Unrealized | Fair | Unrealized | |||||||||||
Value | Losses | Value | Losses | |||||||||||
U.S. Treasury notes | $ | 8,707 | 197 | — | — | |||||||||
U.S. Agency notes | 91,919 | 3,036 | — | — | ||||||||||
U.S. Agency mortgage-backed securities | 23,840 | 868 | — | — | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 23,864 | 793 | — | — | ||||||||||
Taxable | 5,633 | 140 | — | — | ||||||||||
Mutual funds | 1,385 | 23 | — | — | ||||||||||
Trust preferred securities | 46 | 4 | 48 | 1 | ||||||||||
Equity securities | 311 | 34 | 95 | 19 | ||||||||||
$ | 155,705 | 5,095 | 143 | 20 | ||||||||||
Management has determined that the unrealized losses at September 30, 2013 are primarily due to fluctuations in market interest rates and do not reflect credit quality deterioration of the securities. Because LCNB does not have the intent to sell the investments and it is more likely than not that LCNB will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, LCNB does not consider these investments to be other-than-temporarily impaired. |
Loans
Loans | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||
Note 4 - Loans | |||||||||||||||||||||||
Major classifications of loans at September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
30-Sep-13 | December 31, | ||||||||||||||||||||||
2012 | |||||||||||||||||||||||
Acquired Credit Impaired | Other | Total | |||||||||||||||||||||
Commercial and industrial | $ | 341 | 30,939 | 31,280 | 26,236 | ||||||||||||||||||
Commercial, secured by real estate | 4,252 | 298,059 | 302,311 | 238,357 | |||||||||||||||||||
Residential real estate | 1,346 | 214,972 | 216,318 | 175,031 | |||||||||||||||||||
Consumer | — | 12,928 | 12,928 | 10,554 | |||||||||||||||||||
Agricultural | — | 3,245 | 3,245 | 1,668 | |||||||||||||||||||
Other loans, including deposit overdrafts | — | 58 | 58 | 1,875 | |||||||||||||||||||
5,939 | 560,201 | 566,140 | 453,721 | ||||||||||||||||||||
Deferred net origination costs (fees) | — | (31 | ) | (31 | ) | 62 | |||||||||||||||||
5,939 | 560,170 | 566,109 | 453,783 | ||||||||||||||||||||
Less allowance for loan losses | — | 3,423 | 3,423 | 3,437 | |||||||||||||||||||
Loans, net | $ | 5,939 | 556,747 | 562,686 | 450,346 | ||||||||||||||||||
Loans acquired from the merger with First Capital are recorded at fair value with no carryover of the acquired entity's previously established allowance for loan losses. The excess of expected cash flows over the estimated fair value of acquired loans is recognized as interest income over the remaining contractual lives of the loans using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows result in the recognition of additional interest income over the then-remaining contractual lives of the loans. | |||||||||||||||||||||||
Impaired loans acquired are accounted for under FASB ASC 310-30. Factors considered in evaluating whether an acquired loan was impaired include delinquency status and history, updated borrower credit status, collateral information, and updated loan-to-value information. The difference between contractually required payments at the time of acquisition and the cash flows expected to be collected is referred to as the nonaccretable difference. The interest component of the cash flows expected to be collected is referred to as the accretable yield and is recognized as interest income over the remaining contractual life of the loan using the level yield method. Subsequent decreases in expected cash flows will require additions to the allowance for loan losses. Subsequent improvements in expected cash flows will result in a reclassification from the nonaccretable difference to the accretable yield. | |||||||||||||||||||||||
The following table provides certain information at the acquisition date on loans acquired from First Capital, not including loans considered to be impaired (in thousands): | |||||||||||||||||||||||
Contractually required principal at acquisition | $ | 91,614 | |||||||||||||||||||||
Less fair value adjustment | (1,908 | ) | |||||||||||||||||||||
Fair value of acquired loans | $ | 89,706 | |||||||||||||||||||||
Contractual cash flows not expected to be collected | $ | 2,149 | |||||||||||||||||||||
The following table provides details on acquired impaired loans that are accounted for in accordance with FASB ASC 310-30 (in thousands): | |||||||||||||||||||||||
Contractually required principal at acquisition | $ | 11,460 | |||||||||||||||||||||
Contractual cash flows not expected to be collected (nonaccretable difference) | (1,260 | ) | |||||||||||||||||||||
Expected cash flows at acquisition | 10,200 | ||||||||||||||||||||||
Interest component of expected cash flows (accretable discount) | (1,389 | ) | |||||||||||||||||||||
Fair value of acquired impaired loans | $ | 8,811 | |||||||||||||||||||||
The following table provides the outstanding balance and related carrying amount for acquired impaired loans at the dates indicated (in thousands): | |||||||||||||||||||||||
September 30, | January 11, | ||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||
Outstanding balance | $ | 8,155 | 11,460 | ||||||||||||||||||||
Carrying amount | 5,939 | 8,811 | |||||||||||||||||||||
Activity during 2013 for the accretable discount related to acquired impaired loans is as follows (in thousands): | |||||||||||||||||||||||
Accretable discount at January 11, 2013 | $ | 1,389 | |||||||||||||||||||||
Reclass from nonaccretable discount to accretable discount | 157 | ||||||||||||||||||||||
Less transferred to other real estate owned | (23 | ) | |||||||||||||||||||||
Less accretion | (394 | ) | |||||||||||||||||||||
Accretable discount at September 30, 2013 | $ | 1,129 | |||||||||||||||||||||
Non-accrual, past-due, and accruing restructured loans as of September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
30-Sep-13 | December 31, | ||||||||||||||||||||||
2012 | |||||||||||||||||||||||
Acquired Credit Impaired | Other | Total | |||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||
Commercial and industrial | $ | — | 144 | 144 | 264 | ||||||||||||||||||
Commercial, secured by real estate | 369 | 1,120 | 1,489 | 788 | |||||||||||||||||||
Residential real estate | 143 | 1,052 | 1,195 | 1,231 | |||||||||||||||||||
Total non-accrual loans | 512 | 2,316 | 2,828 | 2,283 | |||||||||||||||||||
Past-due 90 days or more and still accruing | — | 29 | 29 | 128 | |||||||||||||||||||
Total non-accrual and past-due 90 days or more and still accruing | 512 | 2,345 | 2,857 | 2,411 | |||||||||||||||||||
Accruing restructured loans | — | 14,175 | 14,175 | 13,343 | |||||||||||||||||||
Total | $ | 512 | 16,520 | 17,032 | 15,754 | ||||||||||||||||||
Percentage of total non-accrual loans and loans past-due 90 days or more and still accruing to total loans | 0.5 | % | 0.53 | % | |||||||||||||||||||
Percentage of total non-accrual loans, loans past-due 90 days or more and still accruing, and accruing restructured loans to total loans | 3.01 | % | 3.47 | % | |||||||||||||||||||
Loans sold to and serviced for the Federal Home Loan Mortgage Corporation and other investors are not included in the accompanying consolidated balance sheets. The unpaid principal balances of those loans at September 30, 2013 and December 31, 2012 are $91,125,000 and $71,568,000, respectively. Loans sold during the three months ended September 30, 2013 and 2012 totaled $2,434,000 and $7,934,000, respectively, and $16,831,000 and $19,328,000 during the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||
The allowance for loan losses and recorded investment in loans for the nine months ended September 30 are as follows (in thousands): | |||||||||||||||||||||||
Commercial | Commercial, Secured by | Residential | Consumer | Agricultural | Other | Total | |||||||||||||||||
& Industrial | Real Estate | Real Estate | |||||||||||||||||||||
2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance, beginning of year | $ | 320 | 2,296 | 712 | 108 | — | 1 | 3,437 | |||||||||||||||
Provision charged to expenses | (41 | ) | 107 | 268 | 14 | — | 21 | 369 | |||||||||||||||
Losses charged off: | |||||||||||||||||||||||
Acquired credit impaired loans | — | — | (5 | ) | — | — | — | (5 | ) | ||||||||||||||
Other loans | (120 | ) | (34 | ) | (203 | ) | (148 | ) | — | (56 | ) | (561 | ) | ||||||||||
Recoveries | 4 | 26 | 21 | 98 | — | 34 | 183 | ||||||||||||||||
Balance, end of period | $ | 163 | 2,395 | 793 | 72 | — | — | 3,423 | |||||||||||||||
Individually evaluated for impairment | $ | 1 | 766 | 190 | 1 | — | — | 958 | |||||||||||||||
Collectively evaluated for impairment | 162 | 1,629 | 603 | 71 | — | — | 2,465 | ||||||||||||||||
Acquired credit impaired loans | — | — | — | — | — | — | — | ||||||||||||||||
Balance, end of period | $ | 163 | 2,395 | 793 | 72 | — | — | 3,423 | |||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 166 | 14,444 | 1,543 | 35 | — | — | 16,188 | |||||||||||||||
Collectively evaluated for impairment | 30,739 | 283,288 | 213,669 | 12,983 | 3,245 | 58 | 543,982 | ||||||||||||||||
Acquired credit impaired loans | 341 | 4,252 | 1,346 | — | — | — | 5,939 | ||||||||||||||||
Balance, end of period | $ | 31,246 | 301,984 | 216,558 | 13,018 | 3,245 | 58 | 566,109 | |||||||||||||||
2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance, beginning of year | $ | 162 | 1,941 | 656 | 166 | — | 6 | 2,931 | |||||||||||||||
Change in classification | 18 | (18 | ) | — | — | — | — | — | |||||||||||||||
Provision charged to expenses | 163 | (16 | ) | 624 | (49 | ) | — | 20 | 742 | ||||||||||||||
Losses charged off | (159 | ) | (234 | ) | (479 | ) | (84 | ) | — | (64 | ) | (1,020 | ) | ||||||||||
Recoveries | — | 71 | 7 | 95 | — | 40 | 213 | ||||||||||||||||
Balance, end of period | $ | 184 | 1,744 | 808 | 128 | — | 2 | 2,866 | |||||||||||||||
Individually evaluated for impairment | $ | 21 | 49 | 219 | — | — | — | 289 | |||||||||||||||
Collectively evaluated for impairment | 163 | 1,695 | 589 | 128 | — | 2 | 2,577 | ||||||||||||||||
Balance, end of period | $ | 184 | 1,744 | 808 | 128 | — | 2 | 2,866 | |||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 264 | 13,895 | 1,157 | 13 | — | — | 15,329 | |||||||||||||||
Collectively evaluated for impairment | 25,462 | 223,898 | 176,114 | 11,550 | 2,061 | 2,993 | 442,078 | ||||||||||||||||
Balance, end of period | $ | 25,726 | 237,793 | 177,271 | 11,563 | 2,061 | 2,993 | 457,407 | |||||||||||||||
LCNB uses a risk-rating system to quantify loan quality. A loan is assigned to a risk category based on relevant information about the ability of the borrower to service the debt including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The categories used are: | |||||||||||||||||||||||
• | Pass – loans categorized in this category are higher quality loans that do not fit any of the other categories described below. | ||||||||||||||||||||||
• | Other Assets Especially Mentioned (OAEM) - loans in this category are currently protected but are potentially weak. These loans constitute a risk but not to the point of justifying a classification of substandard. The credit risk may be relatively minor yet constitute an undue risk in light of the circumstances surrounding a specific asset. | ||||||||||||||||||||||
• | Substandard – loans in this category are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the possibility that LCNB will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||
• | Doubtful – loans classified in this category have all the weaknesses inherent in loans classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||||||||
A breakdown of the loan portfolio by credit quality indicators at September 30, 2013 and December 31, 2012 is as follows (in thousands): | |||||||||||||||||||||||
Pass | OAEM | Substandard | Doubtful | Total | |||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
Acquired credit impaired: | |||||||||||||||||||||||
Commercial & industrial | $ | 12 | — | 329 | — | 341 | |||||||||||||||||
Commercial, secured by real estate | — | 766 | 3,486 | — | 4,252 | ||||||||||||||||||
Residential real estate | — | — | 1,346 | — | 1,346 | ||||||||||||||||||
Total | $ | 12 | 766 | 5,161 | — | 5,939 | |||||||||||||||||
Other: | |||||||||||||||||||||||
Commercial & industrial | $ | 27,657 | 1,815 | 1,433 | — | 30,905 | |||||||||||||||||
Commercial, secured by real estate | 285,160 | 1,957 | 10,615 | — | 297,732 | ||||||||||||||||||
Residential real estate | 208,654 | 1,774 | 4,731 | 53 | 215,212 | ||||||||||||||||||
Consumer | 12,978 | — | 40 | — | 13,018 | ||||||||||||||||||
Agricultural | 3,245 | — | — | — | 3,245 | ||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||
Total | $ | 537,752 | 5,546 | 16,819 | 53 | 560,170 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 27,669 | 1,815 | 1,762 | — | 31,246 | |||||||||||||||||
Commercial, secured by real estate | 285,160 | 2,723 | 14,101 | — | 301,984 | ||||||||||||||||||
Residential real estate | 208,654 | 1,774 | 6,077 | 53 | 216,558 | ||||||||||||||||||
Consumer | 12,978 | — | 40 | — | 13,018 | ||||||||||||||||||
Agricultural | 3,245 | — | — | — | 3,245 | ||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||
Total | $ | 537,764 | 6,312 | 21,980 | 53 | 566,109 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
Commercial & industrial | $ | 22,965 | 1,804 | 1,177 | 264 | 26,210 | |||||||||||||||||
Commercial, secured by real estate | 222,497 | 2,653 | 12,872 | 107 | 238,129 | ||||||||||||||||||
Residential real estate | 168,338 | 2,353 | 4,280 | 298 | 175,269 | ||||||||||||||||||
Consumer | 10,549 | — | 62 | 20 | 10,631 | ||||||||||||||||||
Agricultural | 1,665 | — | 3 | — | 1,668 | ||||||||||||||||||
Other | 1,876 | — | — | — | 1,876 | ||||||||||||||||||
Total | $ | 427,890 | 6,810 | 18,394 | 689 | 453,783 | |||||||||||||||||
A loan portfolio aging analysis at September 30, 2013 and December 31, 2012 is as follows (in thousands): | |||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Current | Total Loans | Total Loans Greater Than | |||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Receivable | 90 Days and | ||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
Acquired credit impaired: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | — | 341 | 341 | — | |||||||||||||||
Commercial, secured by real estate | — | 54 | 127 | 181 | 4,071 | 4,252 | — | ||||||||||||||||
Residential real estate | — | 45 | 80 | 125 | 1,221 | 1,346 | — | ||||||||||||||||
Total | $ | — | 99 | 207 | 306 | 5,633 | 5,939 | — | |||||||||||||||
Other: | |||||||||||||||||||||||
Commercial & industrial | $ | 64 | 99 | 144 | 307 | 30,598 | 30,905 | — | |||||||||||||||
Commercial, secured by real estate | 1,362 | 769 | 1,120 | 3,251 | 294,481 | 297,732 | — | ||||||||||||||||
Residential real estate | 1,200 | 492 | 1,116 | 2,808 | 212,404 | 215,212 | 29 | ||||||||||||||||
Consumer | 95 | 16 | — | 111 | 12,907 | 13,018 | — | ||||||||||||||||
Agricultural | — | — | — | — | 3,245 | 3,245 | — | ||||||||||||||||
Other | 39 | — | — | 39 | 19 | 58 | — | ||||||||||||||||
Total | $ | 2,760 | 1,376 | 2,380 | 6,516 | 553,654 | 560,170 | 29 | |||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 64 | 99 | 144 | 307 | 30,939 | 31,246 | — | |||||||||||||||
Commercial, secured by real estate | 1,362 | 823 | 1,247 | 3,432 | 298,552 | 301,984 | — | ||||||||||||||||
Residential real estate | 1,200 | 537 | 1,196 | 2,933 | 213,625 | 216,558 | 29 | ||||||||||||||||
Consumer | 95 | 16 | — | 111 | 12,907 | 13,018 | — | ||||||||||||||||
Agricultural | — | — | — | — | 3,245 | 3,245 | — | ||||||||||||||||
Other | 39 | — | — | 39 | 19 | 58 | — | ||||||||||||||||
Total | $ | 2,760 | 1,475 | 2,587 | 6,822 | 559,287 | 566,109 | 29 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
Commercial & industrial | $ | — | 1 | 264 | 265 | 25,945 | 26,210 | — | |||||||||||||||
Commercial, secured by real estate | 346 | 79 | 788 | 1,213 | 236,916 | 238,129 | — | ||||||||||||||||
Residential real estate | 791 | 212 | 1,172 | 2,175 | 173,094 | 175,269 | 103 | ||||||||||||||||
Consumer | 61 | 57 | 25 | 143 | 10,488 | 10,631 | 25 | ||||||||||||||||
Agricultural | — | — | — | — | 1,668 | 1,668 | — | ||||||||||||||||
Other | 72 | — | — | 72 | 1,804 | 1,876 | — | ||||||||||||||||
Total | $ | 1,270 | 349 | 2,249 | 3,868 | 449,915 | 453,783 | 128 | |||||||||||||||
Impaired loans, excluding acquired credit impaired loans, at September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | — | — | |||||||||||||||||
Commercial, secured by real estate | 3,067 | 3,143 | — | 3,143 | 85 | ||||||||||||||||||
Residential real estate | 344 | 344 | — | 382 | 6 | ||||||||||||||||||
Consumer | — | — | — | 1 | — | ||||||||||||||||||
Total | $ | 3,411 | 3,487 | — | 3,526 | 91 | |||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | 166 | 271 | 1 | 193 | 1 | |||||||||||||||||
Commercial, secured by real estate | 11,377 | 11,431 | 766 | 10,710 | 278 | ||||||||||||||||||
Residential real estate | 1,199 | 1,462 | 190 | 1,201 | 23 | ||||||||||||||||||
Consumer | 35 | 35 | 1 | 21 | 2 | ||||||||||||||||||
Total | $ | 12,777 | 13,199 | 958 | 12,125 | 304 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 166 | 271 | 1 | 193 | 1 | |||||||||||||||||
Commercial, secured by real estate | 14,444 | 14,574 | 766 | 13,853 | 363 | ||||||||||||||||||
Residential real estate | 1,543 | 1,806 | 190 | 1,583 | 29 | ||||||||||||||||||
Consumer | 35 | 35 | 1 | 22 | 2 | ||||||||||||||||||
Total | $ | 16,188 | 16,686 | 958 | 15,651 | 395 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | 975 | 43 | |||||||||||||||||
Commercial, secured by real estate | 9,541 | 9,936 | — | 9,310 | 350 | ||||||||||||||||||
Residential real estate | 417 | 417 | — | 397 | 5 | ||||||||||||||||||
Consumer | 20 | 20 | — | 23 | 2 | ||||||||||||||||||
Total | $ | 9,978 | 10,373 | — | 10,705 | 400 | |||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | 264 | 822 | 159 | 374 | — | |||||||||||||||||
Commercial, secured by real estate | 4,258 | 4,360 | 660 | 4,765 | 171 | ||||||||||||||||||
Residential real estate | 658 | 853 | 85 | 707 | 2 | ||||||||||||||||||
Consumer | — | — | — | 4 | — | ||||||||||||||||||
Total | $ | 5,180 | 6,035 | 904 | 5,850 | 173 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 264 | 822 | 159 | 1,349 | 43 | |||||||||||||||||
Commercial, secured by real estate | 13,799 | 14,296 | 660 | 14,075 | 521 | ||||||||||||||||||
Residential real estate | 1,075 | 1,270 | 85 | 1,104 | 7 | ||||||||||||||||||
Consumer | 20 | 20 | — | 27 | 2 | ||||||||||||||||||
Total | $ | 15,158 | 16,408 | 904 | 16,555 | 573 | |||||||||||||||||
Loan modifications that were classified as troubled debt restructurings during the three and nine months ended September 30, 2013 and 2012 are as follows (dollars in thousands): | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Number | Balance at Modification | Number | Balance at Modification | ||||||||||||||||||||
of | of | ||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||||||||
Commercial and industrial | — | $ | — | — | $ | — | |||||||||||||||||
Commercial, secured by real estate | 1 | 702 | — | — | |||||||||||||||||||
Residential real estate | — | — | 1 | 100 | |||||||||||||||||||
Consumer | — | — | 2 | 20 | |||||||||||||||||||
Total | 1 | $ | 702 | 3 | $ | 120 | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||
Commercial and industrial | 1 | $ | 22 | — | $ | — | |||||||||||||||||
Commercial, secured by real estate | 1 | 702 | — | — | |||||||||||||||||||
Residential real estate | 2 | 335 | 3 | 273 | |||||||||||||||||||
Consumer | 2 | 27 | 2 | 20 | |||||||||||||||||||
Total | 6 | $ | 1,086 | 5 | $ | 293 | |||||||||||||||||
Each restructured loan is separately negotiated with the borrower and includes terms and conditions that reflect the borrower's ability to pay the debt as modified. Modifications may include interest only payments for a period of time, temporary or permanent reduction of the loan's interest rate, capitalization of delinquent interest, or extensions of the maturity date. | |||||||||||||||||||||||
LCNB is not committed to lend additional funds to borrowers whose loan terms were modified in a troubled debt restructuring. | |||||||||||||||||||||||
A restructured automobile loan with a balance of $13,000 was charged off during the first quarter 2013, which was within twelve months of the loan's modification date. There were no other troubled debt restructurings that subsequently defaulted within twelve months of the restructuring date for the three and nine months ended September 30, 2013 and 2012. |
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Real Estate [Abstract] | ' | ||||||||||||||
Other Real Estate Owned | ' | ||||||||||||||
Note 5 – Other Real Estate Owned | |||||||||||||||
Other real estate owned includes property acquired through foreclosure or deed-in-lieu of foreclosure and also includes property deemed to be in-substance foreclosed and are included in "other assets" in the consolidated balance sheets. Changes in other real estate owned are as follows (in thousands): | |||||||||||||||
Nine Months Ended | |||||||||||||||
September 30, | |||||||||||||||
2013 | 2012 | ||||||||||||||
Balance, beginning of year | $ | 2,189 | 1,619 | ||||||||||||
Additions | 126 | 771 | |||||||||||||
Additions due to merger | 127 | — | |||||||||||||
Reductions due to sales | (843 | ) | — | ||||||||||||
Reductions due to valuation write downs | (38 | ) | (76 | ) | |||||||||||
Balance, end of period | $ | 1,561 | 2,314 | ||||||||||||
Other real estate owned at September 30, 2013 and December 31, 2012 consisted of (dollars in thousands): | |||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||
Number | Balance | Number | Balance | ||||||||||||
Commercial real estate | 2 | $ | 1,443 | 2 | $ | 1,875 | |||||||||
Residential real estate | 5 | 118 | 8 | 314 | |||||||||||
7 | $ | 1,561 | 10 | $ | 2,189 | ||||||||||
Premises_and_Equipment
Premises and Equipment | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Premises and Equipment | ' | |||||||
Note 6 – Premises and Equipment | ||||||||
Premises and equipment at September 30, 2013 and December 31, 2012 are summarized as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Land | $ | 5,353 | 4,708 | |||||
Buildings | 18,756 | 15,616 | ||||||
Equipment | 11,952 | 11,280 | ||||||
Construction in progress | 75 | — | ||||||
Total | 36,136 | 31,604 | ||||||
Less accumulated depreciation | 16,078 | 15,040 | ||||||
Premises and equipment, net | $ | 20,058 | 16,564 | |||||
Depreciation charged to expense was $370,000 and $322,000 for the three months ended September 30, 2013 and 2012, respectively, and $1,070,000 and $927,000 for the nine months ended September 30, 2013 and 2012, respectively. |
Borrowings
Borrowings | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Borrowings | ' | ||||||||||||||
Note 7 – Borrowings | |||||||||||||||
Funds borrowed from the Federal Home Loan Bank of Cincinnati ("FHLB") at September 30, 2013 and December 31, 2012 are as follows (dollars in thousands): | |||||||||||||||
Interest | September 30, | December 31, | |||||||||||||
Rate | 2013 | 2012 | |||||||||||||
Fixed Rate Advances, due at maturity: | |||||||||||||||
Advance due January 2015 | 2 | % | $ | 5,000 | 5,000 | ||||||||||
Advance due March 2017 | 5.25 | % | 5,000 | 5,000 | |||||||||||
Fixed Rate Advances, with monthly principal and interest payments: | |||||||||||||||
Advance due March 2014 | 2.45 | % | 528 | 1,308 | |||||||||||
Advance due March 2019 | 2.82 | % | 1,918 | 2,397 | |||||||||||
$ | 12,446 | 13,705 | |||||||||||||
All advances from the FHLB are secured by a blanket pledge of LCNB's 1-4 family first lien mortgage loans in the amount of approximately $181 million and $142 million at September 30, 2013 and December 31, 2012, respectively. Additionally, LCNB is required to hold minimum levels of FHLB stock, based on the outstanding borrowings. | |||||||||||||||
Short-term borrowings at September 30, 2013 and December 31, 2012 are as follows (dollars in thousands): | |||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||
Amount | Rate | Amount | Rate | ||||||||||||
Line of credit | $ | 11,946 | 0.75 | % | $ | 2,661 | 0.75 | % | |||||||
FHLB short-term advance | — | — | % | — | — | % | |||||||||
Repurchase agreements | 10,865 | 0.1 | % | 11,095 | 0.1 | % | |||||||||
$ | 22,811 | 0.44 | % | $ | 13,756 | 0.23 | % | ||||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Note 8 – Income Taxes | |||||||||||||
A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows: | |||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Statutory tax rate | 34 | % | 34 | % | 34 | % | 34 | % | |||||
Increase (decrease) resulting from: | |||||||||||||
Tax exempt interest | (6.8 | )% | (8.3 | )% | (7.4 | )% | (7.3 | )% | |||||
Tax exempt income on bank owned life insurance | (1.8 | )% | (2.0 | )% | (2.0 | )% | (1.8 | )% | |||||
Other, net | — | % | (0.1 | )% | 0.4 | % | — | % | |||||
Effective tax rate | 25.4 | % | 23.6 | % | 25 | % | 24.9 | % |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingent Liabilities | ' | |||||||
Note 9 - Commitments and Contingent Liabilities | ||||||||
LCNB is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. They involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheets. Exposure to credit loss in the event of nonperformance by the other parties to financial instruments for commitments to extend credit is represented by the contract amount of those instruments. | ||||||||
LCNB offers the Bounce Protection product, a customer deposit overdraft program, which is offered as a service and does not constitute a contract between the customer and LCNB. | ||||||||
LCNB uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Financial instruments whose contract amounts represent off-balance-sheet credit risk at September 30, 2013 and December 31, 2012 are as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Commitments to extend credit: | ||||||||
Commercial loans | $ | 12,663 | 13,625 | |||||
Other loans | ||||||||
Fixed rate | 3,824 | 4,602 | ||||||
Adjustable rate | 1,039 | 1,238 | ||||||
Unused lines of credit: | ||||||||
Fixed rate | 4,386 | 3,368 | ||||||
Adjustable rate | 59,636 | 45,199 | ||||||
Unused overdraft protection amounts on demand and NOW accounts | 9,538 | 9,665 | ||||||
Standby letters of credit | 445 | 5,109 | ||||||
$ | 91,531 | 82,806 | ||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Unused lines of credit include amounts not drawn on line of credit loans. Commitments to extend credit and unused lines of credit generally have fixed expiration dates or other termination clauses. | ||||||||
Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. At September 30, 2013 and December 31, 2012, outstanding guarantees of approximately $445,000 and $346,000, respectively, were issued to developers and contractors. These guarantees generally are fully secured and have varying maturities. At December 31, 2012, LCNB had a participation in four letters of credit totaling $4.8 million securing payment of principal and interest on a bond issue. These letters of credit were terminated on July 11, 2013. | ||||||||
LCNB evaluates each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management's credit evaluation of the borrower. Collateral held varies, but may include accounts receivable; inventory; property, plant and equipment; residential realty; and income-producing commercial properties. | ||||||||
Capital expenditures include the construction or acquisition of new office buildings, improvements to LCNB's offices, purchases of furniture and equipment, and additions or improvements to LCNB's information technology system. Commitments outstanding for capital expenditures as of September 30, 2013 totaled approximately $100,000. | ||||||||
Management believes that LCNB has sufficient liquidity to fund its lending and capital expenditure commitments. | ||||||||
LCNB and its subsidiary are parties to various claims and proceedings arising in the normal course of business. Management, after consultation with legal counsel, believes that the liabilities, if any, arising from such proceedings and claims will not be material to the consolidated financial position or results of operations. |
Regulatory_Capital
Regulatory Capital | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Regulatory Capital | ' | |||||||
Note 10 – Regulatory Capital | ||||||||
The Bank and LCNB are required by regulators to meet certain minimum levels of capital adequacy. These are expressed in the form of certain ratios. Capital is separated into Tier 1 capital (essentially shareholders' equity less goodwill and other intangibles) and Tier 2 capital (essentially the allowance for loan losses limited to 1.25% of risk-weighted assets). The first two ratios, which are based on the degree of credit risk in LCNB's assets, provide for weighting assets based on assigned risk factors and include off-balance sheet items such as loan commitments and stand-by letters of credit. The leverage ratio supplements the risk-based capital guidelines. | ||||||||
For various regulatory purposes, financial institutions are classified into categories based upon capital adequacy. | ||||||||
Minimum Requirement | To Be Considered | |||||||
Well-Capitalized | ||||||||
Ratio of tier 1 capital to risk-weighted assets | 4 | % | 6 | % | ||||
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets | 8 | % | 10 | % | ||||
Leverage ratio (tier 1 capital to adjusted quarterly average total assets) | 3 | % | 5 | % | ||||
As of the most recent notification from their regulators, the Bank and LCNB were categorized as "well-capitalized" under the regulatory framework for prompt corrective action. Management believes that no conditions or events have occurred since the last notification that would change the Bank's or LCNB's category. | ||||||||
A summary of the regulatory capital and capital ratios of LCNB follows (dollars in thousands): | ||||||||
At | At | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Regulatory Capital: | ||||||||
Shareholders' equity | $ | 92,215 | 82,006 | |||||
Goodwill and other intangibles | (16,405 | ) | (6,019 | ) | ||||
Accumulated other comprehensive (income) loss | 508 | (4,721 | ) | |||||
Tier 1 risk-based capital | 76,318 | 71,266 | ||||||
Eligible allowance for loan losses | 3,423 | 3,437 | ||||||
Total risk-based capital | $ | 79,741 | 74,703 | |||||
Capital ratios: | ||||||||
Tier 1 risk-based | 13.26 | % | 15.13 | % | ||||
Total risk-based | 13.86 | % | 15.86 | % | ||||
Leverage | 8.19 | % | 8.98 | % |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||
Note 11 – Accumulated Other Comprehensive Income | ||||||||||||||
Changes in accumulated other comprehensive income for the nine months ended September 30, 2013 and 2012 are as follows (in thousands): | ||||||||||||||
Unrealized Gains and Losses on Available-for-Sale Securities | Changes in Pension Plan Assets and Benefit Obligations | Total | ||||||||||||
2013 | ||||||||||||||
Balance at beginning of period | $ | 4,875 | (154 | ) | 4,721 | |||||||||
Before reclassifications | (4,758 | ) | 26 | (4,732 | ) | |||||||||
Reclassifications | (497 | ) | — | (497 | ) | |||||||||
Balance at end of period | $ | (380 | ) | (128 | ) | (508 | ) | |||||||
2012 | ||||||||||||||
Balance at beginning of period | $ | 5,180 | (152 | ) | 5,028 | |||||||||
Before reclassifications | 1,529 | 25 | 1,554 | |||||||||||
Reclassifications | (586 | ) | — | (586 | ) | |||||||||
Balance at end of period | $ | 6,123 | (127 | ) | 5,996 | |||||||||
Reclassifications out of accumulated other comprehensive income during the three months and nine months ended September 30, 2013 and 2012 and the affected line items in the consolidated statements of income are as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Realized gain on sale of securities | $ | 58 | 427 | 753 | 886 | |||||||||
Less provision for income taxes | 20 | 145 | 256 | 300 | ||||||||||
Reclassification adjustment, net of taxes | $ | 38 | 282 | 497 | 586 | |||||||||
Retirement_Plans
Retirement Plans | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Retirement Plans | ' | |||||||||||||
Note 12 – Retirement Plans | ||||||||||||||
LCNB participates in a noncontributory defined benefit retirement multi-employer plan that covers substantially all regular full-time employees hired before January 1, 2009. | ||||||||||||||
Employees of LCNB also participate in a defined contribution retirement plan. Employees hired on or after January 1, 2009 receive a 50% employer match on their contributions into the 401(k) plan, up to a maximum LCNB contribution of 3% of each individual employee's annual compensation. Employees hired before January 1, 2009 who received a benefit reduction under certain amendments to the defined benefit retirement plan receive an automatic contribution of 5% or 7% of annual compensation, depending on the sum of an employee's age and vesting service, into the 401(k) plan, regardless of the contributions made by the employees. This contribution is made annually and these employees do not receive any employer matches to their 401(k) contributions. | ||||||||||||||
Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to pension and other employee benefits in the consolidated statements of income for the three and nine-month periods ended September 30, 2013 and 2012 are as follows (in thousands): | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Qualified noncontributory defined benefit retirement plan | $ | 31 | 230 | 93 | 521 | |||||||||
401(k) plan | 75 | 88 | 229 | 198 | ||||||||||
Certain highly compensated employees participate in a nonqualified defined benefit retirement plan. The nonqualified plan ensures that participants receive the full amount of benefits to which they would have been entitled under the noncontributory defined benefit retirement plan in the absence of limits on benefit levels imposed by certain sections of the Internal Revenue Code. | ||||||||||||||
The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the three and nine months ended September 30, 2013 and 2012 are summarized as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Service cost | $ | 18 | 22 | 54 | 66 | |||||||||
Interest cost | 12 | 11 | 35 | 33 | ||||||||||
Amortization of unrecognized net (gain) loss | 6 | 5 | 18 | 15 | ||||||||||
Amortization of unrecognized prior service cost | 7 | 7 | 21 | 21 | ||||||||||
Net periodic pension cost | $ | 43 | 45 | 128 | 135 | |||||||||
Amounts recognized in accumulated other comprehensive income, net of tax, at September 30, 2013 and December 31, 2012 for the nonqualified defined benefit retirement plan consists of (in thousands): | ||||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Net actuarial loss | $ | 113 | 125 | |||||||||||
Past service cost | 14 | 29 | ||||||||||||
$ | 127 | 154 | ||||||||||||
Citizens National Bank had a qualified noncontributory defined benefit pension plan which covered employees hired before May 1, 2005. LCNB assumed this plan at the time of the merger. |
Stock_Based_Compensation
Stock Based Compensation | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Stock Based Compensation | ' | ||||||||||||||||||
Note 13 - Stock Based Compensation | |||||||||||||||||||
LCNB established an Ownership Incentive Plan (the "Plan") during 2002 that allows for stock-based awards to eligible employees, as determined by the Board of Directors. The awards may be in the form of stock options, share awards, and/or appreciation rights. The Plan provides for the issuance of up to 200,000 shares. | |||||||||||||||||||
Options granted to date vest ratably over a five year period and expire ten years after the date of grant. Stock options outstanding at September 30, 2013 are as follows: | |||||||||||||||||||
Outstanding Stock Options | Exercisable Stock Options | ||||||||||||||||||
Exercise | Number | Weighted Average | Weighted Average Remaining Contractual | Number | Weighted Average Exercise Price | Weighted Average Remaining Contractual | |||||||||||||
Price Range | Exercise | Life (Years) | Life (Years) | ||||||||||||||||
Price | |||||||||||||||||||
$9.00 - $10.99 | 23,494 | $ | 9 | 5.3 | 18,419 | $ | 9 | 5.3 | |||||||||||
$11.00 - $12.99 | 63,354 | 12.05 | 6.8 | 31,362 | 12.06 | 6.1 | |||||||||||||
$17.00 - $18.99 | 18,118 | 18.19 | 2.1 | 18,118 | 18.19 | 2.1 | |||||||||||||
104,966 | 12.43 | 5.6 | 67,899 | 12.86 | 4.8 | ||||||||||||||
The following table summarizes stock option activity for the periods indicated: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Options | Weighted Average Exercise | Options | Weighted Average Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||||
Outstanding, January 1 | 110,586 | $ | 12.42 | 124,123 | $ | 12.54 | |||||||||||||
Granted | — | — | 14,491 | 12.6 | |||||||||||||||
Exercised | (5,620 | ) | 12.32 | (2,144 | ) | 13.09 | |||||||||||||
Outstanding, September 30 | 104,966 | 12.43 | 136,470 | 12.54 | |||||||||||||||
Exercisable, September 30 | 67,899 | 12.86 | 81,193 | 13.25 | |||||||||||||||
The aggregate intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) for options outstanding at September 30, 2013 that were "in the money" (market price greater than exercise price) was $708,000. The aggregate intrinsic value at that date for only the options that were exercisable was $428,000. The aggregate intrinsic value for options outstanding at September 30, 2012 that were in the money was $233,000 and the aggregate intrinsic value at that date for only the options that were exercisable was $127,000. The intrinsic value changes based upon fluctuations in the market value of LCNB's stock. | |||||||||||||||||||
Total expense related to options included in salaries and employee benefits in the consolidated statements of income for the three and nine months ended September 30, 2013 were $9,000 and $28,000, respectively, and $10,000 and $30,000 for the three and nine months ended September 30, 2012, respectively. |
Earnings_Per_Common_Share
Earnings Per Common Share | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Common Share | ' | |||||||||||||
Note 14 - Earnings per Common Share | ||||||||||||||
Basic earnings per common share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is adjusted for the dilutive effects of stock options, warrant, and restricted stock. The diluted average number of common shares outstanding has been increased for the assumed exercise of stock options, warrant, and restricted stock with proceeds used to purchase treasury shares at the average market price for the period. The computations are as follows for the three and nine months ended September 30, 2013 and 2012 (dollars in thousands, except share and per share data): | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net income | $ | 2,357 | 1,847 | 6,433 | 6,111 | |||||||||
Weighted average number of shares outstanding used in the calculation of basic earnings per common share | 7,636,098 | 6,721,699 | 7,592,818 | 6,713,959 | ||||||||||
Add dilutive effect of: | ||||||||||||||
Stock options | 29,601 | 10,089 | 23,262 | 8,898 | ||||||||||
Stock warrants | 121,399 | 65,887 | 106,606 | 64,143 | ||||||||||
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share | 7,787,098 | 6,797,675 | 7,722,686 | 6,787,000 | ||||||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.31 | 0.27 | 0.85 | 0.91 | |||||||||
Diluted | 0.3 | 0.27 | 0.83 | 0.9 | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Note 15 - Fair Value Measurements | |||||||||||||||||
LCNB measures certain assets at fair value using various valuation techniques and assumptions, depending on the nature of the asset. Fair value is defined as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. | |||||||||||||||||
The inputs to valuation techniques used to measure fair value are assigned to one of three broad levels: | |||||||||||||||||
• | Level 1 – quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the reporting date. | ||||||||||||||||
• | Level 2 – inputs other than quoted prices included within level 1 that are observable for the asset or liability either directly or indirectly. Level 2 inputs may include quoted prices for similar assets in active markets, quoted prices for identical assets or liabilities in markets that are not active, inputs other than quoted prices (such as interest rates or yield curves) that are observable for the asset or liability, and inputs that are derived from or corroborated by observable market data. | ||||||||||||||||
• | Level 3 - inputs that are unobservable for the asset or liability. | ||||||||||||||||
The majority of LCNB's financial debt securities are classified as available-for-sale. The securities are reported at fair value with unrealized holding gains and losses reported net of income taxes in accumulated other comprehensive income. | |||||||||||||||||
LCNB utilizes a pricing service for determining the fair values of most of its investment securities. Fair value for U.S. Treasury notes and corporate securities are determined based on market quotations (level 1). Fair value for most of the other investment securities is calculated using the discounted cash flow method for each security. The discount rates for these cash flows are estimated by the pricing service using rates observed in the market (level 2). Cash flow streams are dependent on estimated prepayment speeds and the overall structure of the securities given existing market conditions. In addition, LCNB has invested in two mutual funds that invest in debt securities or loans that qualify for credit under the Community Reinvestment Act. The investment in one of the mutual funds is considered to have level 1 inputs because it is publicly traded in an active market and it publishes a daily net asset value. The investment in the other mutual fund is considered to have level 2 inputs because, although its shares are not traded in an active market, an investor can have its interest in the fund redeemed for the balance of its capital account at any quarter-end assuming the fund is given a 60 day notice. The investment in this fund is carried at cost and approximates fair value. Additionally, LCNB owns trust preferred securities in various financial institutions, equity securities in various financial and non-financial companies, and a mutual fund that invests primarily in floating rate loans. Market quotations (level 1) are used to determine fair values for these investments. The investment in the mutual fund is considered to have level 1 inputs because it is publicly traded in an active market and it publishes a daily net asset value. | |||||||||||||||||
Assets that may be recorded at fair value on a nonrecurring basis include impaired loans, other real estate owned, and other repossessed assets. A loan is considered impaired when management believes it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. Impaired loans are carried at the present value of estimated future cash flows using the loan's existing rate or the fair value of collateral if the loan is collateral dependent, if this value is less than the loan balance. When the fair value of the collateral is based on an observable market price or current appraised value, the inputs are considered to be level 2. When an appraised value is not available and there is not an observable market price, the inputs are considered to be level 3. | |||||||||||||||||
Other real estate owned is adjusted to fair value upon transfer of the loan to foreclosed assets, usually based on an appraisal of the property. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. The inputs for a valuation based on current appraised value are considered to be level 2. | |||||||||||||||||
The following table summarizes the valuation of LCNB's assets recorded at fair value by input levels as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||
Fair Value Measurements at the End of | |||||||||||||||||
the Reporting Period Using | |||||||||||||||||
Fair Value Measurements | Quoted | Significant Other Observable Inputs | Significant Unobservable Inputs | Total | |||||||||||||
Prices | (Level 2) | (Level 3) | Gains | ||||||||||||||
in Active | (Losses) | ||||||||||||||||
Markets for Identical Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury notes | $ | 8,707 | 8,707 | — | — | ||||||||||||
U.S. Agency notes | 110,779 | — | 110,779 | — | |||||||||||||
U.S. Agency mortgage-backed securities | 45,576 | — | 45,576 | — | |||||||||||||
Certificates of deposit with other banks | 1,501 | — | 1,501 | — | |||||||||||||
Municipal securities: | |||||||||||||||||
Non-taxable | 80,509 | — | 80,509 | — | |||||||||||||
Taxable | 19,685 | — | 19,685 | — | |||||||||||||
Mutual funds | 2,385 | 1,385 | 1,000 | — | |||||||||||||
Trust preferred securities | 147 | 147 | — | — | |||||||||||||
Equity securities | 2,015 | 2,015 | — | — | |||||||||||||
Total recurring fair value measurements | $ | 271,304 | 12,254 | 259,050 | — | ||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||
Impaired loans | $ | 11,819 | — | 650 | 11,169 | — | |||||||||||
Other real estate owned and repossessed assets (a) | 1,561 | — | 1,561 | — | 175 | ||||||||||||
Total nonrecurring fair value measurements | $ | 13,380 | — | 2,211 | 11,169 | 175 | |||||||||||
31-Dec-12 | |||||||||||||||||
Recurring fair value measurement: | |||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury notes | $ | 18,686 | 18,686 | — | — | ||||||||||||
U.S. Agency notes | 90,606 | — | 90,606 | — | |||||||||||||
U.S. Agency mortgage-backed securities | 52,541 | — | 52,541 | — | |||||||||||||
Corporate securities | 3,067 | 3,067 | — | — | |||||||||||||
Municipal securities: | |||||||||||||||||
Non-taxable | 73,882 | — | 73,882 | — | |||||||||||||
Taxable | 15,841 | — | 15,841 | — | |||||||||||||
Mutual funds | 2,168 | 1,168 | 1,000 | — | |||||||||||||
Trust preferred securities | 245 | 245 | — | — | |||||||||||||
Equity securities | 1,470 | 1,470 | — | — | |||||||||||||
Total recurring fair value measurements | $ | 258,506 | 24,636 | 233,870 | — | ||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||
Impaired loans | $ | 4,276 | — | 161 | 4,115 | — | |||||||||||
Other real estate owned and repossessed assets (b) | 2,189 | — | 2,189 | — | (295 | ) | |||||||||||
Total nonrecurring fair value measurements | $ | 6,465 | — | 2,350 | 4,115 | (295 | ) | ||||||||||
(a) | Six other real estate owned properties with a total carrying amount of $277,000 were written down to their combined fair value of $239,000, resulting in an impairment charge of $38,000. Eight other real estate owned properties with a total carrying amount of $843,000 were sold for a combined total of $1,054,000, resulting in a net gain of $211,000. A repossessed asset with a carrying value of $6,000 was sold for $8,000, resulting in a net gain of $2,000. The write-downs, losses, and gains were included in other non-interest expense for the period. | ||||||||||||||||
(b) | Eight other real estate owned properties with a total carrying amount of $1,809,000 were written down to their combined fair value of $1,525,000, resulting in an impairment charge of $284,000. Another property was sold at a loss of $8,000. Repossessed assets with a carrying value of $23,000 were sold for a combined total of $20,000, resulting in a net loss of $3,000. The write-downs and losses were included in other non-interest expense for the period. | ||||||||||||||||
Carrying amounts and estimated fair values of financial instruments as of September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
FINANCIAL ASSETS: | |||||||||||||||||
Cash and cash equivalents | $ | 14,687 | 14,687 | 13,475 | 13,475 | ||||||||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 271,304 | 271,304 | 258,506 | 258,506 | |||||||||||||
Held-to-maturity | 21,058 | 21,058 | 15,424 | 15,424 | |||||||||||||
Federal Reserve Bank stock | 1,603 | 1,603 | 949 | 949 | |||||||||||||
Federal Home Loan Bank stock | 2,854 | 2,854 | 2,091 | 2,091 | |||||||||||||
Loans, net | 562,686 | 564,402 | 450,346 | 453,060 | |||||||||||||
FINANCIAL LIABILITIES: | |||||||||||||||||
Deposits | 808,335 | 811,412 | 671,471 | 675,964 | |||||||||||||
Short-term borrowings | 22,811 | 22,811 | 13,756 | 13,756 | |||||||||||||
Long-term debt | 12,446 | 13,251 | 13,705 | 14,724 | |||||||||||||
The fair value of off-balance-sheet financial instruments at September 30, 2013 and December 31, 2012 was not material. | |||||||||||||||||
Fair values of financial instruments are based on various assumptions, including the discount rate and estimates of future cash flows. Therefore, the fair values presented may not represent amounts that could be realized in actual transactions. In addition, because the required disclosures exclude certain financial instruments and all nonfinancial instruments, any aggregation of the fair value amounts presented would not represent the underlying value of LCNB. The following methods and assumptions were used to estimate the fair value of certain financial instruments: | |||||||||||||||||
Cash and cash equivalents | |||||||||||||||||
The carrying amounts presented are deemed to approximate fair value. | |||||||||||||||||
Investment securities | |||||||||||||||||
Fair values for securities, excluding Federal Home Loan Bank and Federal Reserve Bank stock, are based on quoted market prices, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities and/or discounted cash flow analyses or other methods. The carrying value of Federal Home Loan Bank and Federal Reserve Bank stock approximates fair value based on the respective redemptive provisions. | |||||||||||||||||
Loans | |||||||||||||||||
Fair value is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, incorporating assumptions of current and projected prepayment speeds. These current rates approximate market rates. | |||||||||||||||||
Deposits | |||||||||||||||||
The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities, which approximates market rates. | |||||||||||||||||
Borrowings | |||||||||||||||||
The carrying amounts of federal funds purchased, repurchase agreements, and U.S. Treasury demand note borrowings are deemed to approximate fair value of short-term borrowings. For long-term debt, fair values are estimated based on the discounted value of expected net cash flows using current interest rates. | |||||||||||||||||
The following table summarizes the categorization by input level as of September 30, 2013 and December 31, 2012 of LCNB's financial assets and liabilities not recorded at fair value but for which fair value is disclosed (in thousands): | |||||||||||||||||
Fair Value Measurements at the End of | |||||||||||||||||
the Reporting Period Using | |||||||||||||||||
Fair Value Measurements | Quoted Prices | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | ||||||||||||||
in Active | (Level 3) | ||||||||||||||||
Markets for Identical Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Loans, net | $ | 552,583 | — | 552,583 | — | ||||||||||||
Investment securities, non-taxable, held-to-maturity | 21,058 | — | — | 21,058 | |||||||||||||
Federal Reserve Bank stock | 1,603 | 1,603 | — | — | |||||||||||||
Federal Home Loan Bank stock | 2,854 | 2,854 | — | — | |||||||||||||
Liabilities: | |||||||||||||||||
Deposits | 811,412 | — | 811,412 | — | |||||||||||||
Long-term debt | 13,251 | — | 13,251 | — | |||||||||||||
31-Dec-12 | |||||||||||||||||
Assets: | |||||||||||||||||
Loans, net | $ | 448,784 | — | 448,784 | — | ||||||||||||
Investment securities, non-taxable, held-to-maturity | 15,424 | — | — | 15,424 | |||||||||||||
Federal Reserve Bank stock | 949 | 949 | — | — | |||||||||||||
Federal Home Loan Bank stock | 2,091 | 2,091 | — | — | |||||||||||||
Liabilities: | |||||||||||||||||
Deposits | 675,964 | — | 675,964 | — | |||||||||||||
Long-term debt | 14,724 | — | 14,724 | — | |||||||||||||
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 16 – Subsequent Events | |
On October 28, 2013, LCNB and Colonial Banc Corp. (“CBC”), the holding company for Eaton National Bank & Trust Co. of Eaton, Ohio (“Eaton National”), signed a definitive stock purchase agreement whereby LCNB will purchase 100% of the outstanding stock of Eaton National from CBC for $24.75 million in cash. The transaction is expected to close in the first quarter of 2014, subject to receipt of CBC shareholder approval, customary regulatory approvals, and the completion of an underwritten public offering of $25 million of LCNB voting common stock. Upon the consummation of the transaction, Eaton National will be merged into LCNB National Bank and its offices will become branches of LCNB National Bank. | |
Eaton National operates five full-service branches in Preble County, Ohio and has approximately $191 million in assets, $136 million in loans, and $168 million in deposits. | |
The underwritten public offering referred to above was completed on November 5, 2013, when LCNB issued 1,642,857 shares of its common stock at a price to the public of $17.50 per share. The net proceeds to LCNB after deducting underwriting discounts and commissions and estimated offering expenses was approximately $27.1 million. LCNB intends to use the proceeds to fund the acquisition of Eaton National and the remaining amount will be used for general corporate purposes. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Note 17 – Recent Accounting Pronouncements | |
Accounting Standards Update ("ASU") No. 2013-01, "Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" | |
ASU No. 2013-01 was issued in January 2013 and clarifies that the scope of ASU No. 2011-11, "Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities," applies to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with applicable accounting guidance or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 is to be applied retrospectively and was effective for fiscal years beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this guidance, which involves disclosure only, will not impact LCNB's results of operations or financial position. LCNB currently does not net its financial instruments on its balance sheets. | |
ASU No. 2013-04, "Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date" | |
ASU No. 2013-04 was issued in February 2013 and requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of the guidance is fixed at the reporting date as the sum of (a) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors. The entity is also required to disclose information about the obligation, including its nature and amount. ASU No. 2013-04 is effective for public companies for fiscal years, and interim periods within those years, beginning after December 15, 2013. The ASU is effective for nonpublic companies for fiscal years, and interim periods within those years, beginning after December 15, 2014. The adoption of this guidance is not anticipated to have a material impact on LCNB's results of operations or financial position. | |
ASU No. 2013-10, "Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes" | |
ASU No. 2013-10 was issued in July 2013 and permits the Fed Funds Effective Swap Rate to be used as a U.S. benchmark interest rate for hedge accounting purposes in addition to interest rates on U.S. Treasury obligations and LIBOR. The update also removes a restriction on using different benchmark rates for similar hedges. ASU No. 2013-10 is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this guidance will not impact LCNB's results of operations or financial position. LCNB currently does not use hedged transactions as part of its asset/liability management activities. | |
Note 17 – Recent Accounting Pronouncements (continued) | |
ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” | |
ASU No. 2013-11 was issued in July 2013 and requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. ASU No. 2013-11 is effective for public companies for fiscal years, and interim periods within those years, beginning after December 15, 2013 and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. The adoption of ASU No. 2013-11 is not expected to have a material impact on the LCNB’s results of operations or financial position. |
Acquisition_Tables
Acquisition (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||
Fair Values of Assets Acquired, Liabilities Assumed, and Consideration Paid | ' | |||||||||||||
The merger with First Capital was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration paid were recorded at their estimated fair values as of the merger date, as summarized in the following table (in thousands): | ||||||||||||||
Consideration Paid: | ||||||||||||||
Common shares issued (888,811) | $ | 12,354 | ||||||||||||
Cash paid to shareholders | 7,828 | |||||||||||||
Total value of consideration paid | 20,182 | |||||||||||||
Identifiable Assets Acquired: | ||||||||||||||
Cash and cash equivalents | 17,632 | |||||||||||||
Investment securities: | ||||||||||||||
Available-for-sale | 21,606 | |||||||||||||
Held-to-maturity | 384 | |||||||||||||
Federal Reserve Bank stock | 157 | |||||||||||||
Federal Home Loan Bank stock | 763 | |||||||||||||
Loans | 98,906 | |||||||||||||
Premises and equipment | 3,949 | |||||||||||||
Bank owned life insurance | 3,687 | |||||||||||||
Core deposit intangible | 2,574 | |||||||||||||
Other real estate owned | 127 | |||||||||||||
Deferred income taxes | 409 | |||||||||||||
Other assets | 1,369 | |||||||||||||
Total identifiable assets acquired | 151,563 | |||||||||||||
Liabilities Assumed: | ||||||||||||||
Deposits | 136,823 | |||||||||||||
Long-term debt | 1,792 | |||||||||||||
Other liabilities | 822 | |||||||||||||
Total liabilities assumed | 139,437 | |||||||||||||
Total Identifiable Net Assets Acquired | 12,126 | |||||||||||||
Goodwill resulting from merger | $ | 8,056 | ||||||||||||
Changes in Fair Value of Net Assets Acquired and Liabilities Assumed | ' | |||||||||||||
The following table details the changes in fair value of net assets acquired and liabilities assumed from the amounts reported in the Form 10-Q for the period ending June 30, 2013 (in thousands): | ||||||||||||||
Goodwill at June 30, 2013 | $ | 8,258 | ||||||||||||
Effect of adjustments to: | ||||||||||||||
Deferred income taxes | 18 | |||||||||||||
Other assets | (220 | ) | ||||||||||||
Goodwill at September 30, 2013 | $ | 8,056 | ||||||||||||
Results of Operations are Included in Consolidated Statement of Income from the Date of Merger | ' | |||||||||||||
The results of operations are included in the consolidated statement of income from the date of the merger. The estimated amount of Citizens revenue (net interest income plus non-interest income) and net income, excluding merger and data conversion costs, included in LCNB's consolidated statement of income for the three and nine months ended September 30, 2013 were as follows (in thousands): | ||||||||||||||
Three Months | Nine Months | |||||||||||||
Total revenue | $ | 1,676 | 4,561 | |||||||||||
Net income | 750 | 1,898 | ||||||||||||
Acquired Entity's Estimated Pro Forma Financial Information | ' | |||||||||||||
The following table presents unaudited pro forma information as if the merger with First Capital had occurred on January 1, 2012 (in thousands). This pro forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of the core deposit intangible, and related income tax effects. It does not include merger and data conversion costs. The pro forma information does not necessarily reflect the results of operations that would have occurred had the merger with First Capital occurred in 2012. In particular, expected operational cost savings are not reflected in the pro forma amounts. | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Total revenue | $ | 9,502 | 10,067 | 28,728 | 30,446 | |||||||||
Net income | 2,358 | 2,097 | 7,000 | 7,027 | ||||||||||
Basic earnings per common share | 0.31 | 0.27 | 0.92 | 0.92 | ||||||||||
Diluted earnings per common share | 0.3 | 0.27 | 0.9 | 0.91 | ||||||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||
Amortized Cost and Fair Value of Available-for-Sale Investment Securities | ' | |||||||||||||
The amortized cost and estimated fair value of available-for-sale investment securities at September 30, 2013 and December 31, 2012 are summarized as follows (in thousands): | ||||||||||||||
30-Sep-13 | ||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
U.S. Treasury notes | $ | 8,904 | — | 197 | 8,707 | |||||||||
U.S. Agency notes | 113,475 | 340 | 3,036 | 110,779 | ||||||||||
U.S. Agency mortgage-backed securities | 45,723 | 721 | 868 | 45,576 | ||||||||||
Certificates of deposit with other banks | 1,492 | 9 | — | 1,501 | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 78,822 | 2,480 | 793 | 80,509 | ||||||||||
Taxable | 19,157 | 668 | 140 | 19,685 | ||||||||||
Mutual funds | 2,408 | — | 23 | 2,385 | ||||||||||
Trust preferred securities | 149 | 3 | 5 | 147 | ||||||||||
Equity securities | 1,751 | 317 | 53 | 2,015 | ||||||||||
$ | 271,881 | 4,538 | 5,115 | 271,304 | ||||||||||
31-Dec-12 | ||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
U.S. Treasury notes | $ | 18,462 | 224 | — | 18,686 | |||||||||
U.S. Agency notes | 89,372 | 1,364 | 130 | 90,606 | ||||||||||
U.S. Agency mortgage-backed securities | 51,121 | 1,444 | 24 | 52,541 | ||||||||||
Corporate securities | 3,032 | 35 | — | 3,067 | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 70,504 | 3,497 | 119 | 73,882 | ||||||||||
Taxable | 14,851 | 993 | 3 | 15,841 | ||||||||||
Mutual funds | 2,138 | 30 | — | 2,168 | ||||||||||
Trust preferred securities | 250 | 2 | 7 | 245 | ||||||||||
Equity securities | 1,390 | 106 | 26 | 1,470 | ||||||||||
$ | 251,120 | 7,695 | 309 | 258,506 | ||||||||||
Securities in a Continuous Loss Position | ' | |||||||||||||
Information concerning available-for-sale investment securities with gross unrealized losses at September 30, 2013, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands): | ||||||||||||||
Less than Twelve Months | Twelve Months or Greater | |||||||||||||
Fair | Unrealized | Fair | Unrealized | |||||||||||
Value | Losses | Value | Losses | |||||||||||
U.S. Treasury notes | $ | 8,707 | 197 | — | — | |||||||||
U.S. Agency notes | 91,919 | 3,036 | — | — | ||||||||||
U.S. Agency mortgage-backed securities | 23,840 | 868 | — | — | ||||||||||
Municipal securities: | ||||||||||||||
Non-taxable | 23,864 | 793 | — | — | ||||||||||
Taxable | 5,633 | 140 | — | — | ||||||||||
Mutual funds | 1,385 | 23 | — | — | ||||||||||
Trust preferred securities | 46 | 4 | 48 | 1 | ||||||||||
Equity securities | 311 | 34 | 95 | 19 | ||||||||||
$ | 155,705 | 5,095 | 143 | 20 | ||||||||||
Loans_Tables
Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
Major Classifications of Loans | ' | ||||||||||||||||||||||
Major classifications of loans at September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
30-Sep-13 | December 31, | ||||||||||||||||||||||
2012 | |||||||||||||||||||||||
Acquired Credit Impaired | Other | Total | |||||||||||||||||||||
Commercial and industrial | $ | 341 | 30,939 | 31,280 | 26,236 | ||||||||||||||||||
Commercial, secured by real estate | 4,252 | 298,059 | 302,311 | 238,357 | |||||||||||||||||||
Residential real estate | 1,346 | 214,972 | 216,318 | 175,031 | |||||||||||||||||||
Consumer | — | 12,928 | 12,928 | 10,554 | |||||||||||||||||||
Agricultural | — | 3,245 | 3,245 | 1,668 | |||||||||||||||||||
Other loans, including deposit overdrafts | — | 58 | 58 | 1,875 | |||||||||||||||||||
5,939 | 560,201 | 566,140 | 453,721 | ||||||||||||||||||||
Deferred net origination costs (fees) | — | (31 | ) | (31 | ) | 62 | |||||||||||||||||
5,939 | 560,170 | 566,109 | 453,783 | ||||||||||||||||||||
Less allowance for loan losses | — | 3,423 | 3,423 | 3,437 | |||||||||||||||||||
Loans, net | $ | 5,939 | 556,747 | 562,686 | 450,346 | ||||||||||||||||||
Schedule of Acquired Non Impaired Loans | ' | ||||||||||||||||||||||
The following table provides certain information at the acquisition date on loans acquired from First Capital, not including loans considered to be impaired (in thousands): | |||||||||||||||||||||||
Contractually required principal at acquisition | $ | 91,614 | |||||||||||||||||||||
Less fair value adjustment | (1,908 | ) | |||||||||||||||||||||
Fair value of acquired loans | $ | 89,706 | |||||||||||||||||||||
Contractual cash flows not expected to be collected | $ | 2,149 | |||||||||||||||||||||
Acquired Loans Accounted for in Accordance with FASB ASC 310-30 | ' | ||||||||||||||||||||||
The following table provides details on acquired impaired loans that are accounted for in accordance with FASB ASC 310-30 (in thousands): | |||||||||||||||||||||||
Contractually required principal at acquisition | $ | 11,460 | |||||||||||||||||||||
Contractual cash flows not expected to be collected (nonaccretable difference) | (1,260 | ) | |||||||||||||||||||||
Expected cash flows at acquisition | 10,200 | ||||||||||||||||||||||
Interest component of expected cash flows (accretable discount) | (1,389 | ) | |||||||||||||||||||||
Fair value of acquired impaired loans | $ | 8,811 | |||||||||||||||||||||
Outstanding and Related Carrying Amount for Acquired Impaired Loans | ' | ||||||||||||||||||||||
The following table provides the outstanding balance and related carrying amount for acquired impaired loans at the dates indicated (in thousands): | |||||||||||||||||||||||
September 30, | January 11, | ||||||||||||||||||||||
2013 | 2013 | ||||||||||||||||||||||
Outstanding balance | $ | 8,155 | 11,460 | ||||||||||||||||||||
Carrying amount | 5,939 | 8,811 | |||||||||||||||||||||
Accretable Discount Related to Acquired Impaired Loans | ' | ||||||||||||||||||||||
Activity during 2013 for the accretable discount related to acquired impaired loans is as follows (in thousands): | |||||||||||||||||||||||
Accretable discount at January 11, 2013 | $ | 1,389 | |||||||||||||||||||||
Reclass from nonaccretable discount to accretable discount | 157 | ||||||||||||||||||||||
Less transferred to other real estate owned | (23 | ) | |||||||||||||||||||||
Less accretion | (394 | ) | |||||||||||||||||||||
Accretable discount at September 30, 2013 | $ | 1,129 | |||||||||||||||||||||
Non-accrual, Past Due, and Accruing Restructured Loans | ' | ||||||||||||||||||||||
Non-accrual, past-due, and accruing restructured loans as of September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
30-Sep-13 | December 31, | ||||||||||||||||||||||
2012 | |||||||||||||||||||||||
Acquired Credit Impaired | Other | Total | |||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||
Commercial and industrial | $ | — | 144 | 144 | 264 | ||||||||||||||||||
Commercial, secured by real estate | 369 | 1,120 | 1,489 | 788 | |||||||||||||||||||
Residential real estate | 143 | 1,052 | 1,195 | 1,231 | |||||||||||||||||||
Total non-accrual loans | 512 | 2,316 | 2,828 | 2,283 | |||||||||||||||||||
Past-due 90 days or more and still accruing | — | 29 | 29 | 128 | |||||||||||||||||||
Total non-accrual and past-due 90 days or more and still accruing | 512 | 2,345 | 2,857 | 2,411 | |||||||||||||||||||
Accruing restructured loans | — | 14,175 | 14,175 | 13,343 | |||||||||||||||||||
Total | $ | 512 | 16,520 | 17,032 | 15,754 | ||||||||||||||||||
Percentage of total non-accrual loans and loans past-due 90 days or more and still accruing to total loans | 0.5 | % | 0.53 | % | |||||||||||||||||||
Percentage of total non-accrual loans, loans past-due 90 days or more and still accruing, and accruing restructured loans to total loans | 3.01 | % | 3.47 | % | |||||||||||||||||||
Allowance for Loan Losses and Recorded Investments in Loans | ' | ||||||||||||||||||||||
The allowance for loan losses and recorded investment in loans for the nine months ended September 30 are as follows (in thousands): | |||||||||||||||||||||||
Commercial | Commercial, Secured by | Residential | Consumer | Agricultural | Other | Total | |||||||||||||||||
& Industrial | Real Estate | Real Estate | |||||||||||||||||||||
2013 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance, beginning of year | $ | 320 | 2,296 | 712 | 108 | — | 1 | 3,437 | |||||||||||||||
Provision charged to expenses | (41 | ) | 107 | 268 | 14 | — | 21 | 369 | |||||||||||||||
Losses charged off: | |||||||||||||||||||||||
Acquired credit impaired loans | — | — | (5 | ) | — | — | — | (5 | ) | ||||||||||||||
Other loans | (120 | ) | (34 | ) | (203 | ) | (148 | ) | — | (56 | ) | (561 | ) | ||||||||||
Recoveries | 4 | 26 | 21 | 98 | — | 34 | 183 | ||||||||||||||||
Balance, end of period | $ | 163 | 2,395 | 793 | 72 | — | — | 3,423 | |||||||||||||||
Individually evaluated for impairment | $ | 1 | 766 | 190 | 1 | — | — | 958 | |||||||||||||||
Collectively evaluated for impairment | 162 | 1,629 | 603 | 71 | — | — | 2,465 | ||||||||||||||||
Acquired credit impaired loans | — | — | — | — | — | — | — | ||||||||||||||||
Balance, end of period | $ | 163 | 2,395 | 793 | 72 | — | — | 3,423 | |||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 166 | 14,444 | 1,543 | 35 | — | — | 16,188 | |||||||||||||||
Collectively evaluated for impairment | 30,739 | 283,288 | 213,669 | 12,983 | 3,245 | 58 | 543,982 | ||||||||||||||||
Acquired credit impaired loans | 341 | 4,252 | 1,346 | — | — | — | 5,939 | ||||||||||||||||
Balance, end of period | $ | 31,246 | 301,984 | 216,558 | 13,018 | 3,245 | 58 | 566,109 | |||||||||||||||
2012 | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Balance, beginning of year | $ | 162 | 1,941 | 656 | 166 | — | 6 | 2,931 | |||||||||||||||
Change in classification | 18 | (18 | ) | — | — | — | — | — | |||||||||||||||
Provision charged to expenses | 163 | (16 | ) | 624 | (49 | ) | — | 20 | 742 | ||||||||||||||
Losses charged off | (159 | ) | (234 | ) | (479 | ) | (84 | ) | — | (64 | ) | (1,020 | ) | ||||||||||
Recoveries | — | 71 | 7 | 95 | — | 40 | 213 | ||||||||||||||||
Balance, end of period | $ | 184 | 1,744 | 808 | 128 | — | 2 | 2,866 | |||||||||||||||
Individually evaluated for impairment | $ | 21 | 49 | 219 | — | — | — | 289 | |||||||||||||||
Collectively evaluated for impairment | 163 | 1,695 | 589 | 128 | — | 2 | 2,577 | ||||||||||||||||
Balance, end of period | $ | 184 | 1,744 | 808 | 128 | — | 2 | 2,866 | |||||||||||||||
Loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 264 | 13,895 | 1,157 | 13 | — | — | 15,329 | |||||||||||||||
Collectively evaluated for impairment | 25,462 | 223,898 | 176,114 | 11,550 | 2,061 | 2,993 | 442,078 | ||||||||||||||||
Balance, end of period | $ | 25,726 | 237,793 | 177,271 | 11,563 | 2,061 | 2,993 | 457,407 | |||||||||||||||
Analysis of the Company's Loan Portfolio by Credit Quality Indicators | ' | ||||||||||||||||||||||
A breakdown of the loan portfolio by credit quality indicators at September 30, 2013 and December 31, 2012 is as follows (in thousands): | |||||||||||||||||||||||
Pass | OAEM | Substandard | Doubtful | Total | |||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
Acquired credit impaired: | |||||||||||||||||||||||
Commercial & industrial | $ | 12 | — | 329 | — | 341 | |||||||||||||||||
Commercial, secured by real estate | — | 766 | 3,486 | — | 4,252 | ||||||||||||||||||
Residential real estate | — | — | 1,346 | — | 1,346 | ||||||||||||||||||
Total | $ | 12 | 766 | 5,161 | — | 5,939 | |||||||||||||||||
Other: | |||||||||||||||||||||||
Commercial & industrial | $ | 27,657 | 1,815 | 1,433 | — | 30,905 | |||||||||||||||||
Commercial, secured by real estate | 285,160 | 1,957 | 10,615 | — | 297,732 | ||||||||||||||||||
Residential real estate | 208,654 | 1,774 | 4,731 | 53 | 215,212 | ||||||||||||||||||
Consumer | 12,978 | — | 40 | — | 13,018 | ||||||||||||||||||
Agricultural | 3,245 | — | — | — | 3,245 | ||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||
Total | $ | 537,752 | 5,546 | 16,819 | 53 | 560,170 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 27,669 | 1,815 | 1,762 | — | 31,246 | |||||||||||||||||
Commercial, secured by real estate | 285,160 | 2,723 | 14,101 | — | 301,984 | ||||||||||||||||||
Residential real estate | 208,654 | 1,774 | 6,077 | 53 | 216,558 | ||||||||||||||||||
Consumer | 12,978 | — | 40 | — | 13,018 | ||||||||||||||||||
Agricultural | 3,245 | — | — | — | 3,245 | ||||||||||||||||||
Other | 58 | — | — | — | 58 | ||||||||||||||||||
Total | $ | 537,764 | 6,312 | 21,980 | 53 | 566,109 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
Commercial & industrial | $ | 22,965 | 1,804 | 1,177 | 264 | 26,210 | |||||||||||||||||
Commercial, secured by real estate | 222,497 | 2,653 | 12,872 | 107 | 238,129 | ||||||||||||||||||
Residential real estate | 168,338 | 2,353 | 4,280 | 298 | 175,269 | ||||||||||||||||||
Consumer | 10,549 | — | 62 | 20 | 10,631 | ||||||||||||||||||
Agricultural | 1,665 | — | 3 | — | 1,668 | ||||||||||||||||||
Other | 1,876 | — | — | — | 1,876 | ||||||||||||||||||
Total | $ | 427,890 | 6,810 | 18,394 | 689 | 453,783 | |||||||||||||||||
Loan Portfolio Aging Analysis | ' | ||||||||||||||||||||||
A loan portfolio aging analysis at September 30, 2013 and December 31, 2012 is as follows (in thousands): | |||||||||||||||||||||||
30-59 Days | 60-89 Days | Greater Than | Total | Current | Total Loans | Total Loans Greater Than | |||||||||||||||||
Past Due | Past Due | 90 Days | Past Due | Receivable | 90 Days and | ||||||||||||||||||
Past Due | Accruing | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
Acquired credit impaired: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | — | 341 | 341 | — | |||||||||||||||
Commercial, secured by real estate | — | 54 | 127 | 181 | 4,071 | 4,252 | — | ||||||||||||||||
Residential real estate | — | 45 | 80 | 125 | 1,221 | 1,346 | — | ||||||||||||||||
Total | $ | — | 99 | 207 | 306 | 5,633 | 5,939 | — | |||||||||||||||
Other: | |||||||||||||||||||||||
Commercial & industrial | $ | 64 | 99 | 144 | 307 | 30,598 | 30,905 | — | |||||||||||||||
Commercial, secured by real estate | 1,362 | 769 | 1,120 | 3,251 | 294,481 | 297,732 | — | ||||||||||||||||
Residential real estate | 1,200 | 492 | 1,116 | 2,808 | 212,404 | 215,212 | 29 | ||||||||||||||||
Consumer | 95 | 16 | — | 111 | 12,907 | 13,018 | — | ||||||||||||||||
Agricultural | — | — | — | — | 3,245 | 3,245 | — | ||||||||||||||||
Other | 39 | — | — | 39 | 19 | 58 | — | ||||||||||||||||
Total | $ | 2,760 | 1,376 | 2,380 | 6,516 | 553,654 | 560,170 | 29 | |||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 64 | 99 | 144 | 307 | 30,939 | 31,246 | — | |||||||||||||||
Commercial, secured by real estate | 1,362 | 823 | 1,247 | 3,432 | 298,552 | 301,984 | — | ||||||||||||||||
Residential real estate | 1,200 | 537 | 1,196 | 2,933 | 213,625 | 216,558 | 29 | ||||||||||||||||
Consumer | 95 | 16 | — | 111 | 12,907 | 13,018 | — | ||||||||||||||||
Agricultural | — | — | — | — | 3,245 | 3,245 | — | ||||||||||||||||
Other | 39 | — | — | 39 | 19 | 58 | — | ||||||||||||||||
Total | $ | 2,760 | 1,475 | 2,587 | 6,822 | 559,287 | 566,109 | 29 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
Commercial & industrial | $ | — | 1 | 264 | 265 | 25,945 | 26,210 | — | |||||||||||||||
Commercial, secured by real estate | 346 | 79 | 788 | 1,213 | 236,916 | 238,129 | — | ||||||||||||||||
Residential real estate | 791 | 212 | 1,172 | 2,175 | 173,094 | 175,269 | 103 | ||||||||||||||||
Consumer | 61 | 57 | 25 | 143 | 10,488 | 10,631 | 25 | ||||||||||||||||
Agricultural | — | — | — | — | 1,668 | 1,668 | — | ||||||||||||||||
Other | 72 | — | — | 72 | 1,804 | 1,876 | — | ||||||||||||||||
Total | $ | 1,270 | 349 | 2,249 | 3,868 | 449,915 | 453,783 | 128 | |||||||||||||||
Impaired Loans | ' | ||||||||||||||||||||||
Impaired loans, excluding acquired credit impaired loans, at September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | — | — | |||||||||||||||||
Commercial, secured by real estate | 3,067 | 3,143 | — | 3,143 | 85 | ||||||||||||||||||
Residential real estate | 344 | 344 | — | 382 | 6 | ||||||||||||||||||
Consumer | — | — | — | 1 | — | ||||||||||||||||||
Total | $ | 3,411 | 3,487 | — | 3,526 | 91 | |||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | 166 | 271 | 1 | 193 | 1 | |||||||||||||||||
Commercial, secured by real estate | 11,377 | 11,431 | 766 | 10,710 | 278 | ||||||||||||||||||
Residential real estate | 1,199 | 1,462 | 190 | 1,201 | 23 | ||||||||||||||||||
Consumer | 35 | 35 | 1 | 21 | 2 | ||||||||||||||||||
Total | $ | 12,777 | 13,199 | 958 | 12,125 | 304 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 166 | 271 | 1 | 193 | 1 | |||||||||||||||||
Commercial, secured by real estate | 14,444 | 14,574 | 766 | 13,853 | 363 | ||||||||||||||||||
Residential real estate | 1,543 | 1,806 | 190 | 1,583 | 29 | ||||||||||||||||||
Consumer | 35 | 35 | 1 | 22 | 2 | ||||||||||||||||||
Total | $ | 16,188 | 16,686 | 958 | 15,651 | 395 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | — | — | — | 975 | 43 | |||||||||||||||||
Commercial, secured by real estate | 9,541 | 9,936 | — | 9,310 | 350 | ||||||||||||||||||
Residential real estate | 417 | 417 | — | 397 | 5 | ||||||||||||||||||
Consumer | 20 | 20 | — | 23 | 2 | ||||||||||||||||||
Total | $ | 9,978 | 10,373 | — | 10,705 | 400 | |||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Commercial & industrial | $ | 264 | 822 | 159 | 374 | — | |||||||||||||||||
Commercial, secured by real estate | 4,258 | 4,360 | 660 | 4,765 | 171 | ||||||||||||||||||
Residential real estate | 658 | 853 | 85 | 707 | 2 | ||||||||||||||||||
Consumer | — | — | — | 4 | — | ||||||||||||||||||
Total | $ | 5,180 | 6,035 | 904 | 5,850 | 173 | |||||||||||||||||
Total: | |||||||||||||||||||||||
Commercial & industrial | $ | 264 | 822 | 159 | 1,349 | 43 | |||||||||||||||||
Commercial, secured by real estate | 13,799 | 14,296 | 660 | 14,075 | 521 | ||||||||||||||||||
Residential real estate | 1,075 | 1,270 | 85 | 1,104 | 7 | ||||||||||||||||||
Consumer | 20 | 20 | — | 27 | 2 | ||||||||||||||||||
Total | $ | 15,158 | 16,408 | 904 | 16,555 | 573 | |||||||||||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||||||||
Loan modifications that were classified as troubled debt restructurings during the three and nine months ended September 30, 2013 and 2012 are as follows (dollars in thousands): | |||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
Number | Balance at Modification | Number | Balance at Modification | ||||||||||||||||||||
of | of | ||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||||||||
Commercial and industrial | — | $ | — | — | $ | — | |||||||||||||||||
Commercial, secured by real estate | 1 | 702 | — | — | |||||||||||||||||||
Residential real estate | — | — | 1 | 100 | |||||||||||||||||||
Consumer | — | — | 2 | 20 | |||||||||||||||||||
Total | 1 | $ | 702 | 3 | $ | 120 | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||
Commercial and industrial | 1 | $ | 22 | — | $ | — | |||||||||||||||||
Commercial, secured by real estate | 1 | 702 | — | — | |||||||||||||||||||
Residential real estate | 2 | 335 | 3 | 273 | |||||||||||||||||||
Consumer | 2 | 27 | 2 | 20 | |||||||||||||||||||
Total | 6 | $ | 1,086 | 5 | $ | 293 | |||||||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Real Estate [Abstract] | ' | ||||||||||||||
Changes in Other Real Estate Owned | ' | ||||||||||||||
Changes in other real estate owned are as follows (in thousands): | |||||||||||||||
Nine Months Ended | |||||||||||||||
September 30, | |||||||||||||||
2013 | 2012 | ||||||||||||||
Balance, beginning of year | $ | 2,189 | 1,619 | ||||||||||||
Additions | 126 | 771 | |||||||||||||
Additions due to merger | 127 | — | |||||||||||||
Reductions due to sales | (843 | ) | — | ||||||||||||
Reductions due to valuation write downs | (38 | ) | (76 | ) | |||||||||||
Balance, end of period | $ | 1,561 | 2,314 | ||||||||||||
Components of Other Real Estate Owned | ' | ||||||||||||||
Other real estate owned at September 30, 2013 and December 31, 2012 consisted of (dollars in thousands): | |||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||
Number | Balance | Number | Balance | ||||||||||||
Commercial real estate | 2 | $ | 1,443 | 2 | $ | 1,875 | |||||||||
Residential real estate | 5 | 118 | 8 | 314 | |||||||||||
7 | $ | 1,561 | 10 | $ | 2,189 | ||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Premises and Equipment | ' | |||||||
Premises and equipment at September 30, 2013 and December 31, 2012 are summarized as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Land | $ | 5,353 | 4,708 | |||||
Buildings | 18,756 | 15,616 | ||||||
Equipment | 11,952 | 11,280 | ||||||
Construction in progress | 75 | — | ||||||
Total | 36,136 | 31,604 | ||||||
Less accumulated depreciation | 16,078 | 15,040 | ||||||
Premises and equipment, net | $ | 20,058 | 16,564 | |||||
Borrowings_Tables
Borrowings (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Summary of Funds Borrowed from Federal Home Loan Bank | ' | ||||||||||||||
Funds borrowed from the Federal Home Loan Bank of Cincinnati ("FHLB") at September 30, 2013 and December 31, 2012 are as follows (dollars in thousands): | |||||||||||||||
Interest | September 30, | December 31, | |||||||||||||
Rate | 2013 | 2012 | |||||||||||||
Fixed Rate Advances, due at maturity: | |||||||||||||||
Advance due January 2015 | 2 | % | $ | 5,000 | 5,000 | ||||||||||
Advance due March 2017 | 5.25 | % | 5,000 | 5,000 | |||||||||||
Fixed Rate Advances, with monthly principal and interest payments: | |||||||||||||||
Advance due March 2014 | 2.45 | % | 528 | 1,308 | |||||||||||
Advance due March 2019 | 2.82 | % | 1,918 | 2,397 | |||||||||||
$ | 12,446 | 13,705 | |||||||||||||
Short-term Borrowings | ' | ||||||||||||||
Short-term borrowings at September 30, 2013 and December 31, 2012 are as follows (dollars in thousands): | |||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||
Amount | Rate | Amount | Rate | ||||||||||||
Line of credit | $ | 11,946 | 0.75 | % | $ | 2,661 | 0.75 | % | |||||||
FHLB short-term advance | — | — | % | — | — | % | |||||||||
Repurchase agreements | 10,865 | 0.1 | % | 11,095 | 0.1 | % | |||||||||
$ | 22,811 | 0.44 | % | $ | 13,756 | 0.23 | % | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Reconciliation between Statutory Income Tax and Effective Tax Rate | ' | ||||||||||||
A reconciliation between the statutory income tax and LCNB's effective tax rate on income from continuing operations follows: | |||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Statutory tax rate | 34 | % | 34 | % | 34 | % | 34 | % | |||||
Increase (decrease) resulting from: | |||||||||||||
Tax exempt interest | (6.8 | )% | (8.3 | )% | (7.4 | )% | (7.3 | )% | |||||
Tax exempt income on bank owned life insurance | (1.8 | )% | (2.0 | )% | (2.0 | )% | (1.8 | )% | |||||
Other, net | — | % | (0.1 | )% | 0.4 | % | — | % | |||||
Effective tax rate | 25.4 | % | 23.6 | % | 25 | % | 24.9 | % |
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Financial Instruments Whose Contract Amounts Represent Off-Balance-Sheet Credit Risk | ' | |||||||
Financial instruments whose contract amounts represent off-balance-sheet credit risk at September 30, 2013 and December 31, 2012 are as follows (in thousands): | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Commitments to extend credit: | ||||||||
Commercial loans | $ | 12,663 | 13,625 | |||||
Other loans | ||||||||
Fixed rate | 3,824 | 4,602 | ||||||
Adjustable rate | 1,039 | 1,238 | ||||||
Unused lines of credit: | ||||||||
Fixed rate | 4,386 | 3,368 | ||||||
Adjustable rate | 59,636 | 45,199 | ||||||
Unused overdraft protection amounts on demand and NOW accounts | 9,538 | 9,665 | ||||||
Standby letters of credit | 445 | 5,109 | ||||||
$ | 91,531 | 82,806 | ||||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Financial Institutions Are Classified into Categories Based upon Capital Adequacy | ' | |||||||
For various regulatory purposes, financial institutions are classified into categories based upon capital adequacy. | ||||||||
Minimum Requirement | To Be Considered | |||||||
Well-Capitalized | ||||||||
Ratio of tier 1 capital to risk-weighted assets | 4 | % | 6 | % | ||||
Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets | 8 | % | 10 | % | ||||
Leverage ratio (tier 1 capital to adjusted quarterly average total assets) | 3 | % | 5 | % | ||||
Summary of Regulatory Capital and Capital Ratios of LCNB | ' | |||||||
A summary of the regulatory capital and capital ratios of LCNB follows (dollars in thousands): | ||||||||
At | At | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Regulatory Capital: | ||||||||
Shareholders' equity | $ | 92,215 | 82,006 | |||||
Goodwill and other intangibles | (16,405 | ) | (6,019 | ) | ||||
Accumulated other comprehensive (income) loss | 508 | (4,721 | ) | |||||
Tier 1 risk-based capital | 76,318 | 71,266 | ||||||
Eligible allowance for loan losses | 3,423 | 3,437 | ||||||
Total risk-based capital | $ | 79,741 | 74,703 | |||||
Capital ratios: | ||||||||
Tier 1 risk-based | 13.26 | % | 15.13 | % | ||||
Total risk-based | 13.86 | % | 15.86 | % | ||||
Leverage | 8.19 | % | 8.98 | % |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||
Schedule of Changes in Accumulated Other Comprehensive Income | ' | |||||||||||||
Changes in accumulated other comprehensive income for the nine months ended September 30, 2013 and 2012 are as follows (in thousands): | ||||||||||||||
Unrealized Gains and Losses on Available-for-Sale Securities | Changes in Pension Plan Assets and Benefit Obligations | Total | ||||||||||||
2013 | ||||||||||||||
Balance at beginning of period | $ | 4,875 | (154 | ) | 4,721 | |||||||||
Before reclassifications | (4,758 | ) | 26 | (4,732 | ) | |||||||||
Reclassifications | (497 | ) | — | (497 | ) | |||||||||
Balance at end of period | $ | (380 | ) | (128 | ) | (508 | ) | |||||||
2012 | ||||||||||||||
Balance at beginning of period | $ | 5,180 | (152 | ) | 5,028 | |||||||||
Before reclassifications | 1,529 | 25 | 1,554 | |||||||||||
Reclassifications | (586 | ) | — | (586 | ) | |||||||||
Balance at end of period | $ | 6,123 | (127 | ) | 5,996 | |||||||||
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income to the Statement of Income | ' | |||||||||||||
Reclassifications out of accumulated other comprehensive income during the three months and nine months ended September 30, 2013 and 2012 and the affected line items in the consolidated statements of income are as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Realized gain on sale of securities | $ | 58 | 427 | 753 | 886 | |||||||||
Less provision for income taxes | 20 | 145 | 256 | 300 | ||||||||||
Reclassification adjustment, net of taxes | $ | 38 | 282 | 497 | 586 | |||||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Summary of Funding and Administrative Cost of Qualified Noncontributory Defined Benefit Retirement Plan and 401(k) Plan Charged to Salaries and Employee Benefits | ' | |||||||||||||
Funding and administrative costs of the qualified noncontributory defined benefit retirement plan and 401(k) plan charged to pension and other employee benefits in the consolidated statements of income for the three and nine-month periods ended September 30, 2013 and 2012 are as follows (in thousands): | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Qualified noncontributory defined benefit retirement plan | $ | 31 | 230 | 93 | 521 | |||||||||
401(k) plan | 75 | 88 | 229 | 198 | ||||||||||
Components of Net Periodic Pension Cost of Nonqualified Defined Benefit Retirement Plan | ' | |||||||||||||
The components of net periodic pension cost of the nonqualified defined benefit retirement plan for the three and nine months ended September 30, 2013 and 2012 are summarized as follows (in thousands): | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Service cost | $ | 18 | 22 | 54 | 66 | |||||||||
Interest cost | 12 | 11 | 35 | 33 | ||||||||||
Amortization of unrecognized net (gain) loss | 6 | 5 | 18 | 15 | ||||||||||
Amortization of unrecognized prior service cost | 7 | 7 | 21 | 21 | ||||||||||
Net periodic pension cost | $ | 43 | 45 | 128 | 135 | |||||||||
Amount Recognized in Accumulated Other Comprehensive Income, Net of Deferred Federal Income Taxes for Nonqualified Defined Retirement Plan | ' | |||||||||||||
Amounts recognized in accumulated other comprehensive income, net of tax, at September 30, 2013 and December 31, 2012 for the nonqualified defined benefit retirement plan consists of (in thousands): | ||||||||||||||
September 30, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Net actuarial loss | $ | 113 | 125 | |||||||||||
Past service cost | 14 | 29 | ||||||||||||
$ | 127 | 154 | ||||||||||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Summary of Stock Options Outstanding | ' | ||||||||||||||||||
Options granted to date vest ratably over a five year period and expire ten years after the date of grant. Stock options outstanding at September 30, 2013 are as follows: | |||||||||||||||||||
Outstanding Stock Options | Exercisable Stock Options | ||||||||||||||||||
Exercise | Number | Weighted Average | Weighted Average Remaining Contractual | Number | Weighted Average Exercise Price | Weighted Average Remaining Contractual | |||||||||||||
Price Range | Exercise | Life (Years) | Life (Years) | ||||||||||||||||
Price | |||||||||||||||||||
$9.00 - $10.99 | 23,494 | $ | 9 | 5.3 | 18,419 | $ | 9 | 5.3 | |||||||||||
$11.00 - $12.99 | 63,354 | 12.05 | 6.8 | 31,362 | 12.06 | 6.1 | |||||||||||||
$17.00 - $18.99 | 18,118 | 18.19 | 2.1 | 18,118 | 18.19 | 2.1 | |||||||||||||
104,966 | 12.43 | 5.6 | 67,899 | 12.86 | 4.8 | ||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||||
The following table summarizes stock option activity for the periods indicated: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Options | Weighted Average Exercise | Options | Weighted Average Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||||
Outstanding, January 1 | 110,586 | $ | 12.42 | 124,123 | $ | 12.54 | |||||||||||||
Granted | — | — | 14,491 | 12.6 | |||||||||||||||
Exercised | (5,620 | ) | 12.32 | (2,144 | ) | 13.09 | |||||||||||||
Outstanding, September 30 | 104,966 | 12.43 | 136,470 | 12.54 | |||||||||||||||
Exercisable, September 30 | 67,899 | 12.86 | 81,193 | 13.25 | |||||||||||||||
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Computations of Earnings per Common Share | ' | |||||||||||||
The computations are as follows for the three and nine months ended September 30, 2013 and 2012 (dollars in thousands, except share and per share data): | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net income | $ | 2,357 | 1,847 | 6,433 | 6,111 | |||||||||
Weighted average number of shares outstanding used in the calculation of basic earnings per common share | 7,636,098 | 6,721,699 | 7,592,818 | 6,713,959 | ||||||||||
Add dilutive effect of: | ||||||||||||||
Stock options | 29,601 | 10,089 | 23,262 | 8,898 | ||||||||||
Stock warrants | 121,399 | 65,887 | 106,606 | 64,143 | ||||||||||
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share | 7,787,098 | 6,797,675 | 7,722,686 | 6,787,000 | ||||||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.31 | 0.27 | 0.85 | 0.91 | |||||||||
Diluted | 0.3 | 0.27 | 0.83 | 0.9 | ||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Summary of Valuation of LCNB's Assets Recorded at Fair Value by Inputs Level | ' | ||||||||||||||||
The following table summarizes the valuation of LCNB's assets recorded at fair value by input levels as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||
Fair Value Measurements at the End of | |||||||||||||||||
the Reporting Period Using | |||||||||||||||||
Fair Value Measurements | Quoted | Significant Other Observable Inputs | Significant Unobservable Inputs | Total | |||||||||||||
Prices | (Level 2) | (Level 3) | Gains | ||||||||||||||
in Active | (Losses) | ||||||||||||||||
Markets for Identical Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Recurring fair value measurements: | |||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury notes | $ | 8,707 | 8,707 | — | — | ||||||||||||
U.S. Agency notes | 110,779 | — | 110,779 | — | |||||||||||||
U.S. Agency mortgage-backed securities | 45,576 | — | 45,576 | — | |||||||||||||
Certificates of deposit with other banks | 1,501 | — | 1,501 | — | |||||||||||||
Municipal securities: | |||||||||||||||||
Non-taxable | 80,509 | — | 80,509 | — | |||||||||||||
Taxable | 19,685 | — | 19,685 | — | |||||||||||||
Mutual funds | 2,385 | 1,385 | 1,000 | — | |||||||||||||
Trust preferred securities | 147 | 147 | — | — | |||||||||||||
Equity securities | 2,015 | 2,015 | — | — | |||||||||||||
Total recurring fair value measurements | $ | 271,304 | 12,254 | 259,050 | — | ||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||
Impaired loans | $ | 11,819 | — | 650 | 11,169 | — | |||||||||||
Other real estate owned and repossessed assets (a) | 1,561 | — | 1,561 | — | 175 | ||||||||||||
Total nonrecurring fair value measurements | $ | 13,380 | — | 2,211 | 11,169 | 175 | |||||||||||
31-Dec-12 | |||||||||||||||||
Recurring fair value measurement: | |||||||||||||||||
Investment securities available-for-sale: | |||||||||||||||||
U.S. Treasury notes | $ | 18,686 | 18,686 | — | — | ||||||||||||
U.S. Agency notes | 90,606 | — | 90,606 | — | |||||||||||||
U.S. Agency mortgage-backed securities | 52,541 | — | 52,541 | — | |||||||||||||
Corporate securities | 3,067 | 3,067 | — | — | |||||||||||||
Municipal securities: | |||||||||||||||||
Non-taxable | 73,882 | — | 73,882 | — | |||||||||||||
Taxable | 15,841 | — | 15,841 | — | |||||||||||||
Mutual funds | 2,168 | 1,168 | 1,000 | — | |||||||||||||
Trust preferred securities | 245 | 245 | — | — | |||||||||||||
Equity securities | 1,470 | 1,470 | — | — | |||||||||||||
Total recurring fair value measurements | $ | 258,506 | 24,636 | 233,870 | — | ||||||||||||
Nonrecurring fair value measurements: | |||||||||||||||||
Impaired loans | $ | 4,276 | — | 161 | 4,115 | — | |||||||||||
Other real estate owned and repossessed assets (b) | 2,189 | — | 2,189 | — | (295 | ) | |||||||||||
Total nonrecurring fair value measurements | $ | 6,465 | — | 2,350 | 4,115 | (295 | ) | ||||||||||
(a) | Six other real estate owned properties with a total carrying amount of $277,000 were written down to their combined fair value of $239,000, resulting in an impairment charge of $38,000. Eight other real estate owned properties with a total carrying amount of $843,000 were sold for a combined total of $1,054,000, resulting in a net gain of $211,000. A repossessed asset with a carrying value of $6,000 was sold for $8,000, resulting in a net gain of $2,000. The write-downs, losses, and gains were included in other non-interest expense for the period. | ||||||||||||||||
(b) | Eight other real estate owned properties with a total carrying amount of $1,809,000 were written down to their combined fair value of $1,525,000, resulting in an impairment charge of $284,000. Another property was sold at a loss of $8,000. Repossessed assets with a carrying value of $23,000 were sold for a combined total of $20,000, resulting in a net loss of $3,000. The write-downs and losses were included in other non-interest expense for the period. | ||||||||||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||
Carrying amounts and estimated fair values of financial instruments as of September 30, 2013 and December 31, 2012 are as follows (in thousands): | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
FINANCIAL ASSETS: | |||||||||||||||||
Cash and cash equivalents | $ | 14,687 | 14,687 | 13,475 | 13,475 | ||||||||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 271,304 | 271,304 | 258,506 | 258,506 | |||||||||||||
Held-to-maturity | 21,058 | 21,058 | 15,424 | 15,424 | |||||||||||||
Federal Reserve Bank stock | 1,603 | 1,603 | 949 | 949 | |||||||||||||
Federal Home Loan Bank stock | 2,854 | 2,854 | 2,091 | 2,091 | |||||||||||||
Loans, net | 562,686 | 564,402 | 450,346 | 453,060 | |||||||||||||
FINANCIAL LIABILITIES: | |||||||||||||||||
Deposits | 808,335 | 811,412 | 671,471 | 675,964 | |||||||||||||
Short-term borrowings | 22,811 | 22,811 | 13,756 | 13,756 | |||||||||||||
Long-term debt | 12,446 | 13,251 | 13,705 | 14,724 | |||||||||||||
Summary of Categorization by Inputs Level of LCNB's Financial Assets and Liabilities Not Recorded at Fair Value but for Which Fair Value is Disclosed | ' | ||||||||||||||||
The following table summarizes the categorization by input level as of September 30, 2013 and December 31, 2012 of LCNB's financial assets and liabilities not recorded at fair value but for which fair value is disclosed (in thousands): | |||||||||||||||||
Fair Value Measurements at the End of | |||||||||||||||||
the Reporting Period Using | |||||||||||||||||
Fair Value Measurements | Quoted Prices | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs | ||||||||||||||
in Active | (Level 3) | ||||||||||||||||
Markets for Identical Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
30-Sep-13 | |||||||||||||||||
Assets: | |||||||||||||||||
Loans, net | $ | 552,583 | — | 552,583 | — | ||||||||||||
Investment securities, non-taxable, held-to-maturity | 21,058 | — | — | 21,058 | |||||||||||||
Federal Reserve Bank stock | 1,603 | 1,603 | — | — | |||||||||||||
Federal Home Loan Bank stock | 2,854 | 2,854 | — | — | |||||||||||||
Liabilities: | |||||||||||||||||
Deposits | 811,412 | — | 811,412 | — | |||||||||||||
Long-term debt | 13,251 | — | 13,251 | — | |||||||||||||
31-Dec-12 | |||||||||||||||||
Assets: | |||||||||||||||||
Loans, net | $ | 448,784 | — | 448,784 | — | ||||||||||||
Investment securities, non-taxable, held-to-maturity | 15,424 | — | — | 15,424 | |||||||||||||
Federal Reserve Bank stock | 949 | 949 | — | — | |||||||||||||
Federal Home Loan Bank stock | 2,091 | 2,091 | — | — | |||||||||||||
Liabilities: | |||||||||||||||||
Deposits | 675,964 | — | 675,964 | — | |||||||||||||
Long-term debt | 14,724 | — | 14,724 | — | |||||||||||||
Acquisition_Details
Acquisition (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jan. 11, 2013 | Oct. 09, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Useful life | ' | ' | ' | ' | '9 years | ' |
Liabilities Assumed: | ' | ' | ' | ' | ' | ' |
Goodwill resulting from merger | ' | ' | $8,056,000 | ' | $8,056,000 | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' |
Goodwill at June 30, 2013 | ' | ' | 8,258,000 | ' | ' | ' |
Deferred income taxes | ' | ' | 18,000 | ' | ' | ' |
Other assets | ' | ' | -220,000 | ' | ' | ' |
Goodwill at September 30, 2013 | ' | ' | 8,056,000 | ' | 8,056,000 | ' |
Merger and acquisition integration expenses | ' | ' | ' | ' | 1,326,000 | ' |
Merger related costs | ' | ' | ' | ' | 603,000 | ' |
Data conversion costs | ' | ' | ' | ' | 723,000 | ' |
Estimated amount of acquiree's total revenue and net income included in acquirer's income statement [Abstract] | ' | ' | ' | ' | ' | ' |
Total revenue | ' | ' | 1,676,000 | ' | 4,561,000 | ' |
Net income | ' | ' | 750,000 | ' | 1,898,000 | ' |
First Capital [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Date of merger agreement | ' | 9-Oct-12 | ' | ' | ' | ' |
Value of stock and cash transaction | 20,200,000 | ' | ' | ' | ' | ' |
Cash payable for each share of common stock | 30.76 | ' | ' | ' | ' | ' |
Number of shares exchangeable for each share of common stock (in shares) | 2.329 | ' | ' | ' | ' | ' |
Number of trading days considered to calculate average closing price of share | '25 days | ' | ' | ' | ' | ' |
Consideration Paid: | ' | ' | ' | ' | ' | ' |
Common shares issued (888,811) | 12,354,000 | ' | ' | ' | ' | ' |
Cash paid to shareholders | 7,828,000 | ' | ' | ' | ' | ' |
Total value of consideration paid | 20,182,000 | ' | ' | ' | ' | ' |
Common Shares Issued (in shares) | 888,811 | ' | ' | ' | ' | ' |
Identifiable Assets Acquired: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 17,632,000 | ' | ' | ' | ' | ' |
Investment securities: | ' | ' | ' | ' | ' | ' |
Available-for-sale | 21,606,000 | ' | ' | ' | ' | ' |
Held-to-maturity | 384,000 | ' | ' | ' | ' | ' |
Federal Reserve Bank stock | 157,000 | ' | ' | ' | ' | ' |
Federal Home Loan Bank stock | 763,000 | ' | ' | ' | ' | ' |
Loans | 98,906,000 | ' | ' | ' | ' | ' |
Premises and equipment | 3,949,000 | ' | ' | ' | ' | ' |
Bank owned life insurance | 3,687,000 | ' | ' | ' | ' | ' |
Core deposit intangible | 2,574,000 | ' | ' | ' | ' | ' |
Other real estate owned | 127,000 | ' | ' | ' | ' | ' |
Deferred income taxes | 409,000 | ' | ' | ' | ' | ' |
Other assets | 1,369,000 | ' | ' | ' | ' | ' |
Total identifiable assets acquired | 151,563,000 | ' | ' | ' | ' | ' |
Liabilities Assumed: | ' | ' | ' | ' | ' | ' |
Deposits | 136,823,000 | ' | ' | ' | ' | ' |
Long-term debt | 1,792,000 | ' | ' | ' | ' | ' |
Other liabilities | 822,000 | ' | ' | ' | ' | ' |
Total liabilities assumed | 139,437,000 | ' | ' | ' | ' | ' |
Total Identifiable Net Assets Acquired | 12,126,000 | ' | ' | ' | ' | ' |
Goodwill resulting from merger | 8,056,000 | ' | ' | ' | ' | ' |
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' |
Goodwill at September 30, 2013 | 8,056,000 | ' | ' | ' | ' | ' |
Unaudited pro forma information [Abstract] | ' | ' | ' | ' | ' | ' |
Total revenue | ' | ' | 9,502,000 | 10,067,000 | 28,728,000 | 30,446,000 |
Net income | ' | ' | $2,358,000 | $2,097,000 | $7,000,000 | $7,027,000 |
Basic earnings per common share (in dollars per share) | ' | ' | $0.31 | $0.27 | $0.92 | $0.92 |
Diluted earnings per common share (in dollars per share) | ' | ' | $0.30 | $0.27 | $0.90 | $0.91 |
First Capital [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Specified percentage of outstanding common stock exchangeable for cash (in hundredths) | 40.00% | ' | ' | ' | ' | ' |
Specified percentage of outstanding common stock exchangeable for shares (in hundredths) | 50.00% | ' | ' | ' | ' | ' |
First Capital [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Specified percentage of outstanding common stock exchangeable for cash (in hundredths) | 50.00% | ' | ' | ' | ' | ' |
Specified percentage of outstanding common stock exchangeable for shares (in hundredths) | 60.00% | ' | ' | ' | ' | ' |
Chillicothe, Ohio [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Number of branches | 2 | ' | ' | ' | ' | ' |
Frankfort, Ohio [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Number of branches | 1 | ' | 1 | ' | 1 | ' |
Clarksburg, Ohio [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Number of branches | ' | ' | 1 | ' | 1 | ' |
Washington Court House, Ohio [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Number of branches | ' | ' | 1 | ' | 1 | ' |
Citizens National Bank [Member] | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' |
Number of branches | 6 | ' | ' | ' | ' | ' |
Investment_Securities_Details
Investment Securities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | $271,881 | $251,120 |
Unrealized Gains | 4,538 | 7,695 |
Unrealized Losses | 5,115 | 309 |
Fair Value | 271,304 | 258,506 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 155,705 | ' |
Twelve Months or Greater, Fair Value | 143 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 5,095 | ' |
Twelve Months or Greater, Unrealized Losses | 20 | ' |
U.S. Treasury Notes [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 8,904 | 18,462 |
Unrealized Gains | 0 | 224 |
Unrealized Losses | 197 | 0 |
Fair Value | 8,707 | 18,686 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 8,707 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 197 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
US Agency Notes [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 113,475 | 89,372 |
Unrealized Gains | 340 | 1,364 |
Unrealized Losses | 3,036 | 130 |
Fair Value | 110,779 | 90,606 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 91,919 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 3,036 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
US Agency Mortgage-Backed Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 45,723 | 51,121 |
Unrealized Gains | 721 | 1,444 |
Unrealized Losses | 868 | 24 |
Fair Value | 45,576 | 52,541 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 23,840 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 868 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
Certificates of Deposit with Other Banks [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 1,492 | ' |
Unrealized Gains | 9 | ' |
Unrealized Losses | 0 | ' |
Fair Value | 1,501 | ' |
Corporate Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | ' | 3,032 |
Unrealized Gains | ' | 35 |
Unrealized Losses | ' | 0 |
Fair Value | ' | 3,067 |
Non-Taxable Municipal Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 78,822 | 70,504 |
Unrealized Gains | 2,480 | 3,497 |
Unrealized Losses | 793 | 119 |
Fair Value | 80,509 | 73,882 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 23,864 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 793 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
Taxable Municipal Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 19,157 | 14,851 |
Unrealized Gains | 668 | 993 |
Unrealized Losses | 140 | 3 |
Fair Value | 19,685 | 15,841 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 5,633 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 140 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
Mutual Funds [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 2,408 | 2,138 |
Unrealized Gains | 0 | 30 |
Unrealized Losses | 23 | 0 |
Fair Value | 2,385 | 2,168 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 1,385 | ' |
Twelve Months or Greater, Fair Value | 0 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 23 | ' |
Twelve Months or Greater, Unrealized Losses | 0 | ' |
Trust Preferred Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 149 | 250 |
Unrealized Gains | 3 | 2 |
Unrealized Losses | 5 | 7 |
Fair Value | 147 | 245 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 46 | ' |
Twelve Months or Greater, Fair Value | 48 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 4 | ' |
Twelve Months or Greater, Unrealized Losses | 1 | ' |
Equity Securities [Member] | ' | ' |
Available-for-sale investment securities [Abstract] | ' | ' |
Amortized Cost | 1,751 | 1,390 |
Unrealized Gains | 317 | 106 |
Unrealized Losses | 53 | 26 |
Fair Value | 2,015 | 1,470 |
Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less than Twelve Months, Fair Value | 311 | ' |
Twelve Months or Greater, Fair Value | 95 | ' |
Continuous Unrealized Loss Position, Unrealized Losses [Abstract] | ' | ' |
Less than Twelve Months, Unrealized Losses | 34 | ' |
Twelve Months or Greater, Unrealized Losses | $19 | ' |
Loans_Details
Loans (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | $566,140 | $453,721 | ' |
Deferred net origination costs (fees) | -31 | 62 | ' |
Balance, end of period | 566,109 | 453,783 | 457,407 |
Less allowance for loan losses | 3,423 | 3,437 | ' |
Loans, net | 562,686 | 450,346 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 31,280 | 26,236 | ' |
Balance, end of period | 31,246 | 26,210 | ' |
Commercial Secured By Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 302,311 | 238,357 | ' |
Balance, end of period | 301,984 | 238,129 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 216,318 | 175,031 | ' |
Balance, end of period | 216,558 | 175,269 | ' |
Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 12,928 | 10,554 | ' |
Balance, end of period | 13,018 | 10,631 | ' |
Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 3,245 | 1,668 | ' |
Balance, end of period | 3,245 | 1,668 | ' |
Other Loans Including Deposits Overdraft [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 58 | 1,875 | ' |
Financial Receivable Acquired Credit Imparied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 5,939 | ' | ' |
Deferred net origination costs (fees) | 0 | ' | ' |
Balance, end of period | 5,939 | ' | ' |
Less allowance for loan losses | 0 | ' | ' |
Loans, net | 5,939 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 341 | ' | ' |
Balance, end of period | 341 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 4,252 | ' | ' |
Balance, end of period | 4,252 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 1,346 | ' | ' |
Balance, end of period | 1,346 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Other Loans Including Deposits Overdraft [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 0 | ' | ' |
Financial Receivable Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 560,201 | ' | ' |
Deferred net origination costs (fees) | -31 | ' | ' |
Balance, end of period | 560,170 | ' | ' |
Less allowance for loan losses | 3,423 | ' | ' |
Loans, net | 556,747 | ' | ' |
Financial Receivable Other [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 30,939 | ' | ' |
Balance, end of period | 30,905 | ' | ' |
Financial Receivable Other [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 298,059 | ' | ' |
Balance, end of period | 297,732 | ' | ' |
Financial Receivable Other [Member] | Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 214,972 | ' | ' |
Balance, end of period | 215,212 | ' | ' |
Financial Receivable Other [Member] | Consumer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 12,928 | ' | ' |
Balance, end of period | 13,018 | ' | ' |
Financial Receivable Other [Member] | Agricultural [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | 3,245 | ' | ' |
Balance, end of period | 3,245 | ' | ' |
Financial Receivable Other [Member] | Other Loans Including Deposits Overdraft [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Loans, gross | $58 | ' | ' |
Loans_Loans_Acquired_Loans_not
Loans Loans, Acquired Loans not Imparied and not Accounted For (Details) (USD $) | Jan. 11, 2013 |
In Thousands, unless otherwise specified | |
Acquired loans that are accounted for in accordance with FASB ASC 310-30 [Abstract] | ' |
Contractually required principal at acquisition | $91,614 |
Less fair value adjustment | -1,908 |
Fair value of acquired loans | 89,706 |
Contractual cash flows not expected to be collected | $2,149 |
Loans_Loans_Acquired_Loans_Acc
Loans Loans, Acquired Loans Accounted For (Details) (USD $) | Sep. 30, 2013 | Jan. 11, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Interest component of expected cash flows (accretable discount) | $1,129 | $1,389 |
First Capital [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Contractually required principal at acquisition | ' | 11,460 |
Contractual cash flows not expected to be collected (nonaccretable difference) | ' | -1,260 |
Expected cash flows at acquisition | ' | 10,200 |
Interest component of expected cash flows (accretable discount) | ' | -1,389 |
Fair value of acquired impaired loans | ' | $8,811 |
Loans_Loans_Outstanding_and_Re
Loans Loans, Outstanding and Related Carrying Amount for Acquired Impaired Loans (Details) (USD $) | Sep. 30, 2013 | Jan. 11, 2013 |
In Thousands, unless otherwise specified | ||
Outstanding and related carrying amount for acquired impaired loans [Abstract] | ' | ' |
Outstanding balance | $8,155 | $11,460 |
Carrying amount | $5,939 | $8,811 |
Loans_Loans_Accretable_Discoun
Loans Loans, Accretable Discount Related to Acquired Impaired Loans (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Accretable discount related to acquired impaired loans [Roll Forward] | ' |
Accretable discount at January 11, 2013 | $1,389 |
Reclass from nonaccretable discount to accretable discount | 157 |
Less transferred to other real estate owned | -23 |
Less accretion | -394 |
Accretable discount at September 30, 2013 | $1,129 |
Loans_Past_Due_And_Accruing_Re
Loans, Past Due And Accruing Restructured (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | $2,828 | ' | $2,828 | ' | $2,283 |
Past-due 90 days or more and still accruing | 29 | ' | 29 | ' | 128 |
Total non-accrual and past-due 90 days or more and still accruing | 2,857 | ' | 2,857 | ' | 2,411 |
Accruing restructured loans | 14,175 | ' | 14,175 | ' | 13,343 |
Total | 17,032 | ' | 17,032 | ' | 15,754 |
Percentage of total non-accrual loans and loans past-due 90 days or more and still accruing to total loans | ' | ' | 0.50% | ' | 0.53% |
Percentage of total non-accrual loans, loans past-due 90 days or more and still accruing, and accruing restructured loans to total loans | ' | ' | 3.01% | ' | 3.47% |
Loans sold to Federal Home Loan Mortgage Corporation Loans serviced for other investors unpaid balance | 91,125 | ' | 91,125 | ' | 71,568 |
Total loans sold to Federal Home Loan Mortgage Corporation | 2,434 | 7,934 | 16,831 | 19,328 | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 144 | ' | 144 | ' | 264 |
Commercial Secured By Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 1,489 | ' | 1,489 | ' | 788 |
Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 1,195 | ' | 1,195 | ' | 1,231 |
Financial Receivable Other [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 2,316 | ' | 2,316 | ' | ' |
Past-due 90 days or more and still accruing | 29 | ' | 29 | ' | ' |
Total non-accrual and past-due 90 days or more and still accruing | 2,345 | ' | 2,345 | ' | ' |
Accruing restructured loans | 14,175 | ' | 14,175 | ' | ' |
Total | 16,520 | ' | 16,520 | ' | ' |
Financial Receivable Other [Member] | Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 144 | ' | 144 | ' | ' |
Financial Receivable Other [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 1,120 | ' | 1,120 | ' | ' |
Financial Receivable Other [Member] | Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 1,052 | ' | 1,052 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 512 | ' | 512 | ' | ' |
Past-due 90 days or more and still accruing | 0 | ' | 0 | ' | ' |
Total non-accrual and past-due 90 days or more and still accruing | 512 | ' | 512 | ' | ' |
Accruing restructured loans | 0 | ' | 0 | ' | ' |
Total | 512 | ' | 512 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 0 | ' | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | 369 | ' | 369 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Financing receivables, non accruals, past due, and accruing restructured loans [Line Items] | ' | ' | ' | ' | ' |
Non-accrual loans | $143 | ' | $143 | ' | ' |
Loans_Allowance_for_Loan_Losse
Loans, Allowance for Loan Losses (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | $3,437 | $2,931 | ' |
Change in classification | ' | 0 | ' |
Provision charged to expenses | 369 | 742 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | -5 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -561 | -1,020 | ' |
Recoveries | 183 | 213 | ' |
Balance, end of period | 3,423 | 2,866 | ' |
Individually evaluated for impairment | 958 | 289 | ' |
Collectively evaluated for impairment | 2,465 | 2,577 | ' |
Balance, end of period | 3,423 | 2,866 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 16,188 | 15,329 | ' |
Collectively evaluated for impairment | 543,982 | 442,078 | ' |
Acquired credit impaired loans | 5,939 | ' | ' |
Balance, end of period | 566,109 | 457,407 | 453,783 |
Commercial and Industrial [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 320 | 162 | ' |
Change in classification | ' | 18 | ' |
Provision charged to expenses | -41 | 163 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -120 | -159 | ' |
Recoveries | 4 | 0 | ' |
Balance, end of period | 163 | 184 | ' |
Individually evaluated for impairment | 1 | 21 | ' |
Collectively evaluated for impairment | 162 | 163 | ' |
Balance, end of period | 163 | 184 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 166 | 264 | ' |
Collectively evaluated for impairment | 30,739 | 25,462 | ' |
Acquired credit impaired loans | 341 | ' | ' |
Balance, end of period | 31,246 | 25,726 | ' |
Commercial Secured By Real Estate [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 2,296 | 1,941 | ' |
Change in classification | ' | -18 | ' |
Provision charged to expenses | 107 | -16 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -34 | -234 | ' |
Recoveries | 26 | 71 | ' |
Balance, end of period | 2,395 | 1,744 | ' |
Individually evaluated for impairment | 766 | 49 | ' |
Collectively evaluated for impairment | 1,629 | 1,695 | ' |
Balance, end of period | 2,395 | 1,744 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 14,444 | 13,895 | ' |
Collectively evaluated for impairment | 283,288 | 223,898 | ' |
Acquired credit impaired loans | 4,252 | ' | ' |
Balance, end of period | 301,984 | 237,793 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 712 | 656 | ' |
Change in classification | ' | 0 | ' |
Provision charged to expenses | 268 | 624 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | -5 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -203 | -479 | ' |
Recoveries | 21 | 7 | ' |
Balance, end of period | 793 | 808 | ' |
Individually evaluated for impairment | 190 | 219 | ' |
Collectively evaluated for impairment | 603 | 589 | ' |
Balance, end of period | 793 | 808 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 1,543 | 1,157 | ' |
Collectively evaluated for impairment | 213,669 | 176,114 | ' |
Acquired credit impaired loans | 1,346 | ' | ' |
Balance, end of period | 216,558 | 177,271 | ' |
Consumer [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 108 | 166 | ' |
Change in classification | ' | 0 | ' |
Provision charged to expenses | 14 | -49 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -148 | -84 | ' |
Recoveries | 98 | 95 | ' |
Balance, end of period | 72 | 128 | ' |
Individually evaluated for impairment | 1 | 0 | ' |
Collectively evaluated for impairment | 71 | 128 | ' |
Balance, end of period | 72 | 128 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 35 | 13 | ' |
Collectively evaluated for impairment | 12,983 | 11,550 | ' |
Acquired credit impaired loans | 0 | ' | ' |
Balance, end of period | 13,018 | 11,563 | ' |
Agricultural [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 0 | 0 | ' |
Change in classification | ' | 0 | ' |
Provision charged to expenses | 0 | 0 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | 0 | 0 | ' |
Recoveries | 0 | 0 | ' |
Balance, end of period | 0 | 0 | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Balance, end of period | 0 | 0 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 3,245 | 2,061 | ' |
Acquired credit impaired loans | 0 | ' | ' |
Balance, end of period | 3,245 | 2,061 | ' |
Other [Member] | ' | ' | ' |
Allowance for loan losses [Roll Forward] | ' | ' | ' |
Balance, beginning of year | 1 | 6 | ' |
Change in classification | ' | 0 | ' |
Provision charged to expenses | 21 | 20 | ' |
Losses Charged Off [Abstract] | ' | ' | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | ' | ' |
Acquired credit impaired loans | 0 | ' | ' |
Other loans | -56 | -64 | ' |
Recoveries | 34 | 40 | ' |
Balance, end of period | 0 | 2 | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 2 | ' |
Balance, end of period | 0 | 2 | ' |
Loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 58 | 2,993 | ' |
Acquired credit impaired loans | 0 | ' | ' |
Balance, end of period | $58 | $2,993 | ' |
Loans_Loans_Portfolio_by_Credi
Loans, Loans Portfolio by Credit Quality Indicators (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | $566,109 | $453,783 | $457,407 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 31,246 | 26,210 | ' |
Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 301,984 | 238,129 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 216,558 | 175,269 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 13,018 | 10,631 | ' |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 3,245 | 1,668 | ' |
Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 58 | 1,876 | ' |
Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 537,764 | 427,890 | ' |
Pass [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 27,669 | 22,965 | ' |
Pass [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 285,160 | 222,497 | ' |
Pass [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 208,654 | 168,338 | ' |
Pass [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12,978 | 10,549 | ' |
Pass [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 3,245 | 1,665 | ' |
Pass [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 58 | 1,876 | ' |
OAEM [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 6,312 | 6,810 | ' |
OAEM [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,815 | 1,804 | ' |
OAEM [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 2,723 | 2,653 | ' |
OAEM [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,774 | 2,353 | ' |
OAEM [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
OAEM [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
OAEM [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 21,980 | 18,394 | ' |
Substandard [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,762 | 1,177 | ' |
Substandard [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 14,101 | 12,872 | ' |
Substandard [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 6,077 | 4,280 | ' |
Substandard [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 40 | 62 | ' |
Substandard [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 3 | ' |
Substandard [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 53 | 689 | ' |
Doubtful [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 264 | ' |
Doubtful [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 107 | ' |
Doubtful [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 53 | 298 | ' |
Doubtful [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 20 | ' |
Doubtful [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
Doubtful [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | 0 | ' |
Financial Receivable Acquired Credit Imparied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 5,939 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 341 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 4,252 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,346 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Pass [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Pass [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Pass [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | OAEM [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 766 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | OAEM [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | OAEM [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 766 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | OAEM [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 5,161 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Substandard [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 329 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Substandard [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 3,486 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Substandard [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,346 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Doubtful [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Doubtful [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Doubtful [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 560,170 | ' | ' |
Financial Receivable Other [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 30,905 | ' | ' |
Financial Receivable Other [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 297,732 | ' | ' |
Financial Receivable Other [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 215,212 | ' | ' |
Financial Receivable Other [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 13,018 | ' | ' |
Financial Receivable Other [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 3,245 | ' | ' |
Financial Receivable Other [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 58 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 537,752 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 27,657 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 285,160 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 208,654 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 12,978 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 3,245 | ' | ' |
Financial Receivable Other [Member] | Pass [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 58 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 5,546 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,815 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,957 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,774 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | OAEM [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 16,819 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 1,433 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 10,615 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 4,731 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 40 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Substandard [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 53 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 53 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | 0 | ' | ' |
Financial Receivable Other [Member] | Doubtful [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total | $0 | ' | ' |
Loans_Loans_Portfolio_Aging_An
Loans, Loans Portfolio Aging Analysis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | $2,760 | $1,270 | ' |
60-89 Days Past Due | 1,475 | 349 | ' |
Greater Than 90 Days Past Due | 2,587 | 2,249 | ' |
Total Past Due | 6,822 | 3,868 | ' |
Current | 559,287 | 449,915 | ' |
Balance, end of period | 566,109 | 453,783 | 457,407 |
Total Loans Greater Than 90 Days and Accruing | 29 | 128 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 64 | 0 | ' |
60-89 Days Past Due | 99 | 1 | ' |
Greater Than 90 Days Past Due | 144 | 264 | ' |
Total Past Due | 307 | 265 | ' |
Current | 30,939 | 25,945 | ' |
Balance, end of period | 31,246 | 26,210 | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 | ' |
Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,362 | 346 | ' |
60-89 Days Past Due | 823 | 79 | ' |
Greater Than 90 Days Past Due | 1,247 | 788 | ' |
Total Past Due | 3,432 | 1,213 | ' |
Current | 298,552 | 236,916 | ' |
Balance, end of period | 301,984 | 238,129 | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,200 | 791 | ' |
60-89 Days Past Due | 537 | 212 | ' |
Greater Than 90 Days Past Due | 1,196 | 1,172 | ' |
Total Past Due | 2,933 | 2,175 | ' |
Current | 213,625 | 173,094 | ' |
Balance, end of period | 216,558 | 175,269 | ' |
Total Loans Greater Than 90 Days and Accruing | 29 | 103 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 95 | 61 | ' |
60-89 Days Past Due | 16 | 57 | ' |
Greater Than 90 Days Past Due | 0 | 25 | ' |
Total Past Due | 111 | 143 | ' |
Current | 12,907 | 10,488 | ' |
Balance, end of period | 13,018 | 10,631 | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | 25 | ' |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | 0 | ' |
60-89 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days Past Due | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Current | 3,245 | 1,668 | ' |
Balance, end of period | 3,245 | 1,668 | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 | ' |
Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 39 | 72 | ' |
60-89 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days Past Due | 0 | 0 | ' |
Total Past Due | 39 | 72 | ' |
Current | 19 | 1,804 | ' |
Balance, end of period | 58 | 1,876 | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | 0 | ' |
Financial Receivable Acquired Credit Imparied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | ' | ' |
60-89 Days Past Due | 99 | ' | ' |
Greater Than 90 Days Past Due | 207 | ' | ' |
Total Past Due | 306 | ' | ' |
Current | 5,633 | ' | ' |
Balance, end of period | 5,939 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | ' | ' |
60-89 Days Past Due | 0 | ' | ' |
Greater Than 90 Days Past Due | 0 | ' | ' |
Total Past Due | 0 | ' | ' |
Current | 341 | ' | ' |
Balance, end of period | 341 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | ' | ' |
60-89 Days Past Due | 54 | ' | ' |
Greater Than 90 Days Past Due | 127 | ' | ' |
Total Past Due | 181 | ' | ' |
Current | 4,071 | ' | ' |
Balance, end of period | 4,252 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Acquired Credit Imparied [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | ' | ' |
60-89 Days Past Due | 45 | ' | ' |
Greater Than 90 Days Past Due | 80 | ' | ' |
Total Past Due | 125 | ' | ' |
Current | 1,221 | ' | ' |
Balance, end of period | 1,346 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 2,760 | ' | ' |
60-89 Days Past Due | 1,376 | ' | ' |
Greater Than 90 Days Past Due | 2,380 | ' | ' |
Total Past Due | 6,516 | ' | ' |
Current | 553,654 | ' | ' |
Balance, end of period | 560,170 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 29 | ' | ' |
Financial Receivable Other [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 64 | ' | ' |
60-89 Days Past Due | 99 | ' | ' |
Greater Than 90 Days Past Due | 144 | ' | ' |
Total Past Due | 307 | ' | ' |
Current | 30,598 | ' | ' |
Balance, end of period | 30,905 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Other [Member] | Commercial Secured By Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,362 | ' | ' |
60-89 Days Past Due | 769 | ' | ' |
Greater Than 90 Days Past Due | 1,120 | ' | ' |
Total Past Due | 3,251 | ' | ' |
Current | 294,481 | ' | ' |
Balance, end of period | 297,732 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Other [Member] | Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,200 | ' | ' |
60-89 Days Past Due | 492 | ' | ' |
Greater Than 90 Days Past Due | 1,116 | ' | ' |
Total Past Due | 2,808 | ' | ' |
Current | 212,404 | ' | ' |
Balance, end of period | 215,212 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 29 | ' | ' |
Financial Receivable Other [Member] | Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 95 | ' | ' |
60-89 Days Past Due | 16 | ' | ' |
Greater Than 90 Days Past Due | 0 | ' | ' |
Total Past Due | 111 | ' | ' |
Current | 12,907 | ' | ' |
Balance, end of period | 13,018 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Other [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 0 | ' | ' |
60-89 Days Past Due | 0 | ' | ' |
Greater Than 90 Days Past Due | 0 | ' | ' |
Total Past Due | 0 | ' | ' |
Current | 3,245 | ' | ' |
Balance, end of period | 3,245 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | 0 | ' | ' |
Financial Receivable Other [Member] | Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 39 | ' | ' |
60-89 Days Past Due | 0 | ' | ' |
Greater Than 90 Days Past Due | 0 | ' | ' |
Total Past Due | 39 | ' | ' |
Current | 19 | ' | ' |
Balance, end of period | 58 | ' | ' |
Total Loans Greater Than 90 Days and Accruing | $0 | ' | ' |
Loans_Impaired_Loans_Details
Loans, Impaired Loans (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | $3,411 | $9,978 |
Unpaid Principal Balance | 3,487 | 10,373 |
Average Recorded Investment | 3,526 | 10,705 |
Interest Income Recognized | 91 | 400 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 12,777 | 5,180 |
Unpaid Principal Balance | 13,199 | 6,035 |
Related Allowance | 958 | 904 |
Average Recorded Investment | 12,125 | 5,850 |
Interest Income Recognized | 304 | 173 |
Total [Abstract] | ' | ' |
Recorded Investment | 16,188 | 15,158 |
Unpaid Principal Balance | 16,686 | 16,408 |
Related Allowance | 958 | 904 |
Average Recorded Investment | 15,651 | 16,555 |
Interest Income Recognized | 395 | 573 |
Commercial and Industrial [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 975 |
Interest Income Recognized | 0 | 43 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 166 | 264 |
Unpaid Principal Balance | 271 | 822 |
Related Allowance | 1 | 159 |
Average Recorded Investment | 193 | 374 |
Interest Income Recognized | 1 | 0 |
Total [Abstract] | ' | ' |
Recorded Investment | 166 | 264 |
Unpaid Principal Balance | 271 | 822 |
Related Allowance | 1 | 159 |
Average Recorded Investment | 193 | 1,349 |
Interest Income Recognized | 1 | 43 |
Commercial Secured By Real Estate [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 3,067 | 9,541 |
Unpaid Principal Balance | 3,143 | 9,936 |
Average Recorded Investment | 3,143 | 9,310 |
Interest Income Recognized | 85 | 350 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 11,377 | 4,258 |
Unpaid Principal Balance | 11,431 | 4,360 |
Related Allowance | 766 | 660 |
Average Recorded Investment | 10,710 | 4,765 |
Interest Income Recognized | 278 | 171 |
Total [Abstract] | ' | ' |
Recorded Investment | 14,444 | 13,799 |
Unpaid Principal Balance | 14,574 | 14,296 |
Related Allowance | 766 | 660 |
Average Recorded Investment | 13,853 | 14,075 |
Interest Income Recognized | 363 | 521 |
Residential Real Estate [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 344 | 417 |
Unpaid Principal Balance | 344 | 417 |
Average Recorded Investment | 382 | 397 |
Interest Income Recognized | 6 | 5 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 1,199 | 658 |
Unpaid Principal Balance | 1,462 | 853 |
Related Allowance | 190 | 85 |
Average Recorded Investment | 1,201 | 707 |
Interest Income Recognized | 23 | 2 |
Total [Abstract] | ' | ' |
Recorded Investment | 1,543 | 1,075 |
Unpaid Principal Balance | 1,806 | 1,270 |
Related Allowance | 190 | 85 |
Average Recorded Investment | 1,583 | 1,104 |
Interest Income Recognized | 29 | 7 |
Consumer [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 20 |
Unpaid Principal Balance | 0 | 20 |
Average Recorded Investment | 1 | 23 |
Interest Income Recognized | 0 | 2 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 35 | 0 |
Unpaid Principal Balance | 35 | 0 |
Related Allowance | 1 | 0 |
Average Recorded Investment | 21 | 4 |
Interest Income Recognized | 2 | 0 |
Total [Abstract] | ' | ' |
Recorded Investment | 35 | 20 |
Unpaid Principal Balance | 35 | 20 |
Related Allowance | 1 | 0 |
Average Recorded Investment | 22 | 27 |
Interest Income Recognized | $2 | $2 |
Loans_Troubled_Debt_Restructur
Loans, Troubled Debt Restructuring (Details) (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 | |||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | |
Loan | Loan | Loan | Loan | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Secured By Real Estate [Member] | Commercial Secured By Real Estate [Member] | Commercial Secured By Real Estate [Member] | Commercial Secured By Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer Loans Auto Financing Receivable [Member] | |
Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | Loan | ||||||
Loan modifications classified as troubled debt restructurings [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Loans | 1 | 3 | 6 | 5 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 0 | 0 | 1 | 2 | 3 | 0 | 2 | 2 | 2 | ' |
Balance at Modification | $702,000 | $120,000 | $1,086,000 | $293,000 | $0 | $0 | $22,000 | $0 | $702,000 | $0 | $702,000 | $0 | $0 | $100,000 | $335,000 | $273,000 | $0 | $20,000 | $27,000 | $20,000 | ' |
Troubled debt restructurings that subsequently defaulted within 12 months of the restructuring date | $0 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,000 |
Other_Real_Estate_Owned_Detail
Other Real Estate Owned (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Bank_Loan | Bank_Loan | ||
Other Real Estate [Roll Forward] | ' | ' | ' |
Balance, beginning of year | $2,189 | $1,619 | ' |
Additions | 126 | 771 | ' |
Additions due to merger | 127 | 0 | ' |
Reductions due to sales | -843 | 0 | ' |
Reductions due to valuation write downs | -38 | -76 | ' |
Balance, end of period | 1,561 | 2,314 | ' |
Other real estate owned [Abstract] | ' | ' | ' |
Number | 7 | ' | 10 |
Balance | 1,561 | ' | 2,189 |
Commercial Real Estate [Member] | ' | ' | ' |
Other real estate owned [Abstract] | ' | ' | ' |
Number | 2 | ' | 2 |
Balance | 1,443 | ' | 1,875 |
Residential Real Estate [Member] | ' | ' | ' |
Other real estate owned [Abstract] | ' | ' | ' |
Number | 5 | ' | 8 |
Balance | $118 | ' | $314 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Premises and equipment [Abstract] | ' | ' | ' | ' | ' |
Premises and equipment, gross | $36,136 | ' | $36,136 | ' | $31,604 |
Less accumulated depreciation | 16,078 | ' | 16,078 | ' | 15,040 |
Premises and equipment, net | 20,058 | ' | 20,058 | ' | 16,564 |
Depreciation charged | 370 | 322 | 1,070 | 927 | ' |
Land [Member] | ' | ' | ' | ' | ' |
Premises and equipment [Abstract] | ' | ' | ' | ' | ' |
Premises and equipment, gross | 5,353 | ' | 5,353 | ' | 4,708 |
Buildings [Member] | ' | ' | ' | ' | ' |
Premises and equipment [Abstract] | ' | ' | ' | ' | ' |
Premises and equipment, gross | 18,756 | ' | 18,756 | ' | 15,616 |
Equipment [Member] | ' | ' | ' | ' | ' |
Premises and equipment [Abstract] | ' | ' | ' | ' | ' |
Premises and equipment, gross | 11,952 | ' | 11,952 | ' | 11,280 |
Construction in Progress [Member] | ' | ' | ' | ' | ' |
Premises and equipment [Abstract] | ' | ' | ' | ' | ' |
Premises and equipment, gross | $75 | ' | $75 | ' | $0 |
Borrowings_Details
Borrowings (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' |
Pledged financial instruments for Federal Home Loan Bank | $181,000,000 | $142,000,000 |
Short-term Debt [Line Items] | ' | ' |
Amount | 22,811,000 | 13,756,000 |
Rate | 0.44% | 0.23% |
Line of Credit [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Amount | 11,946,000 | 2,661,000 |
Rate | 0.75% | 0.75% |
FHLB short-term advance [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Amount | 0 | 0 |
Rate | 0.00% | 0.00% |
Repurchase Agreements [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Amount | 10,865,000 | 11,095,000 |
Rate | 0.10% | 0.10% |
Fixed Rate Advances with Monthly Principal and Interest Payments [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt | 12,446,000 | 13,705,000 |
Federal Home Loan Bank Fixed Rate Advance Due January 2015 [Member] | Fixed Rate Advances Due at Maturity [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest Rate | 2.00% | 2.00% |
Long-term debt | 5,000,000 | 5,000,000 |
Federal Home Loan Bank Advance Due March 2017 [Member] | Fixed Rate Advances Due at Maturity [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest Rate | 5.25% | 5.25% |
Long-term debt | 5,000,000 | 5,000,000 |
Federal Home Loan Bank Advance Due March 2014 [Member] | Fixed Rate Advances with Monthly Principal and Interest Payments [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest Rate | 2.45% | 2.45% |
Long-term debt | 528,000 | 1,308,000 |
Federal Home Loan Bank Advance Due March 2019 [Member] | Fixed Rate Advances with Monthly Principal and Interest Payments [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Interest Rate | 2.82% | 2.82% |
Long-term debt | $1,918,000 | $2,397,000 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Statutory tax rate | 34.00% | 34.00% | 34.00% | 34.00% |
Increase (decrease) resulting from: | ' | ' | ' | ' |
Tax exempt interest | -6.80% | -8.30% | -7.40% | -7.30% |
Tax exempt income on bank owned life insurance | -1.80% | -2.00% | -2.00% | -1.80% |
Other, net | 0.00% | -0.10% | 0.40% | 0.00% |
Effective tax rate | 25.40% | 23.60% | 25.00% | 24.90% |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities (Details) (USD $) | 0 Months Ended | ||
Jul. 11, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Letter_of_Credit | |||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | $91,531,000 | $82,806,000 |
Outstanding guarantees of standby letters of credits issued to developers and contractors | ' | 445,000 | 346,000 |
Number of standby letters of credit securing payment of principal and interest on bond issue | ' | ' | 4 |
Total participation amounts of standby letters of credit | ' | ' | 4,800,000 |
Guarantee expiration date | 11-Jul-13 | ' | ' |
Commercial Loan [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 12,663,000 | 13,625,000 |
Other Loans [Member] | Fixed Rate [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 3,824,000 | 4,602,000 |
Other Loans [Member] | Adjustable Rate [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 1,039,000 | 1,238,000 |
Unused lines of Credit [Member] | Fixed Rate [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 4,386,000 | 3,368,000 |
Unused lines of Credit [Member] | Adjustable Rate [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 59,636,000 | 45,199,000 |
Unused Overdraft Protection Amounts on Demand and NOW Accounts [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 9,538,000 | 9,665,000 |
Standby Letters of Credit [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Off-balance sheet risks, liability | ' | 445,000 | 5,109,000 |
Capital Addition Purchase Commitments [Member] | ' | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' |
Purchase for capital commitments | ' | $100,000 | ' |
Regulatory_Capital_Details
Regulatory Capital (Details) (USD $) | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
Risk_Based_Capital_Ratio | ||||
Banking and Thrift [Abstract] | ' | ' | ' | ' |
Allowance for loan losses to risk-weighted assets | 1.25% | ' | ' | ' |
Ratios which are based on degree of credit risk | 2 | ' | ' | ' |
Minimum Requirement - Ratio of tier 1 capital to risk-weighted assets | 4.00% | ' | ' | ' |
Minimum Requirement - Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets | 8.00% | ' | ' | ' |
Minimum Requirement - Leverage ratio (tier 1 capital to adjusted quarterly average total assets) | 3.00% | ' | ' | ' |
To Be ConsideredWell-Capitalized - Ratio of tier 1 capital to risk-weighted assets | 6.00% | ' | ' | ' |
To Be ConsideredWell-Capitalized - Ratio of total capital (tier 1 capital plus tier 2 capital) to risk-weighted assets | 10.00% | ' | ' | ' |
To Be ConsideredWell-Capitalized - Leverage ratio (tier 1 capital to adjusted quarterly average total assets) | 5.00% | ' | ' | ' |
Regulatory Capital: | ' | ' | ' | ' |
Shareholders' equity | $92,215 | $82,006 | $82,131 | $77,960 |
Goodwill and other intangibles | -16,405 | -6,019 | ' | ' |
Accumulated other comprehensive (income) loss | 508 | -4,721 | ' | ' |
Tier 1 risk-based capital | 76,318 | 71,266 | ' | ' |
Eligible allowance for loan losses | 3,423 | 3,437 | ' | ' |
Total risk-based capital | $79,741 | $74,703 | ' | ' |
Capital ratios: | ' | ' | ' | ' |
Tier 1 risk-based | 13.26% | 15.13% | ' | ' |
Total risk-based | 13.86% | 15.86% | ' | ' |
Leverage | 8.19% | 8.98% | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | $4,721 | $5,028 |
Before reclassifications | ' | ' | -4,732 | 1,554 |
Reclassifications | ' | ' | -497 | -586 |
Balance at end of period | -508 | 5,996 | -508 | 5,996 |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Realized gain on sale of securities | 58 | 427 | 753 | 886 |
Less provision for income taxes | 20 | 145 | 256 | 300 |
Reclassification adjustment, net of taxes | -38 | -282 | -497 | -586 |
Unrealized gains and losses on available-for-sale securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | 4,875 | 5,180 |
Before reclassifications | ' | ' | -4,758 | 1,529 |
Reclassifications | ' | ' | -497 | -586 |
Balance at end of period | -380 | 6,123 | -380 | 6,123 |
Unrealized gains and losses on available-for-sale securities [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Realized gain on sale of securities | 58 | 427 | 753 | 886 |
Less provision for income taxes | 20 | 145 | 256 | 300 |
Reclassification adjustment, net of taxes | 38 | 282 | 497 | 586 |
Changes in pension plan assets and benefit obligations [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | ' | -154 | -152 |
Before reclassifications | ' | ' | 26 | 25 |
Reclassifications | ' | ' | 0 | 0 |
Balance at end of period | ($128) | ($127) | ($128) | ($127) |
Retirement_Plans_Details
Retirement Plans (Details) (USD $) | 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, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Qualified Noncontributory Defined Benefit Retirement Plan [Member] | Qualified Noncontributory Defined Benefit Retirement Plan [Member] | Qualified Noncontributory Defined Benefit Retirement Plan [Member] | Qualified Noncontributory Defined Benefit Retirement Plan [Member] | 401(k) Plan [Member] | 401(k) Plan [Member] | 401(k) Plan [Member] | 401(k) Plan [Member] | Nonqualified Defined Benefit Retirement Plan [Member] | Nonqualified Defined Benefit Retirement Plan [Member] | Nonqualified Defined Benefit Retirement Plan [Member] | Nonqualified Defined Benefit Retirement Plan [Member] | |||
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employer's matching contribution to 401(k) of employees hired on or after January 1, 2009 (in hundredths) | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum annual contribution per employee, percent (in hundredths) | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Automatic Annual Contribution Employees Hired Before January 1, 2009 Benefit Reduction Under Certain Amendments Minimum (in hundredths) | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Automatic Annual Contribution Employees Hired Before January 1, 2009 Due Benefit Reduction Under Certain Amendments Maximum (in hundredths) | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Funding and administrative costs of noncontributory defined benefit retirement plan and 401(k) plan [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Qualified noncontributory defined benefit retirement plan | ' | ' | $31 | $230 | $93 | $521 | ' | ' | ' | ' | ' | ' | ' | ' |
401(k) plan | ' | ' | ' | ' | ' | ' | 75 | 88 | 229 | 198 | ' | ' | ' | ' |
Components of net periodic pension cost [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 22 | 54 | 66 |
Interest cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | 11 | 35 | 33 |
Amortization of unrecognized net (gain) loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 5 | 18 | 15 |
Amortization of unrecognized prior service cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 7 | 21 | 21 |
Net periodic pension cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43 | 45 | 128 | 135 |
Recognized in accumulated other comprehensive income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net actuarial loss | 113 | 125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Past service cost | 14 | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | $127 | $154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Period options granted to date vest ratably | ' | ' | '5 years | ' |
Period options granted expires after date of grant | ' | ' | '10 years | ' |
Options outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding at beginning of period (in shares) | ' | ' | 110,586 | 124,123 |
Granted (in shares) | ' | ' | 0 | 14,491 |
Exercised (in shares) | ' | ' | -5,620 | -2,144 |
Outstanding at end of period (in shares) | 104,966 | 136,470 | 104,966 | 136,470 |
Exercisable at end of period (in shares) | 67,899 | 81,193 | 67,899 | 81,193 |
Weighted average exercise price [Roll forward] | ' | ' | ' | ' |
Outstanding at beginning of period (in dollars per share) | ' | ' | $12.42 | $12.54 |
Granted (in dollars per shares) | ' | ' | $0 | $12.60 |
Exercised (in dollars per share) | ' | ' | $12.32 | $13.09 |
Outstanding at end of period (in dollars per share) | $12.43 | $12.54 | $12.43 | $12.54 |
Exercisable at end of period (in dollars per share) | $12.86 | $13.25 | $12.86 | $13.25 |
Aggregate intrinsic value for option outstanding | $708 | $233 | $708 | $233 |
Aggregate intrinsic value of options exercisable | 428 | 127 | 428 | 127 |
Total expense related to options included in salaries and wages | $9 | $10 | $28 | $30 |
Ownership Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized for issuance (in shares) | 200,000 | ' | 200,000 | ' |
Stock_Based_Compensation_Stock
Stock Based Compensation, Stock Options Outstanding By Exercise Price Range (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding stock options, number (in shares) | 104,966 |
Outstanding stock option, weighted average exercise price (in dollars per share) | $12.43 |
Outstanding stock option, weighted average remaining contractual life | '5 years 7 months 6 days |
Exercisable stock options, number (in shares) | 67,899 |
Exercisable stock option, weighted average exercise price (in dollars per shares) | $12.86 |
Exercisable stock options, weighted average remaining contractual life | '4 years 9 months 18 days |
$9.00 - $10.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit (in dollars per share) | $9 |
Exercise price range, upper range limit (in dollars per share) | $10.99 |
Outstanding stock options, number (in shares) | 23,494 |
Outstanding stock option, weighted average exercise price (in dollars per share) | $9 |
Outstanding stock option, weighted average remaining contractual life | '5 years 3 months 18 days |
Exercisable stock options, number (in shares) | 18,419 |
Exercisable stock option, weighted average exercise price (in dollars per shares) | $9 |
Exercisable stock options, weighted average remaining contractual life | '5 years 3 months 18 days |
$11.00 - $12.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit (in dollars per share) | $11 |
Exercise price range, upper range limit (in dollars per share) | $12.99 |
Outstanding stock options, number (in shares) | 63,354 |
Outstanding stock option, weighted average exercise price (in dollars per share) | $12.05 |
Outstanding stock option, weighted average remaining contractual life | '6 years 9 months 18 days |
Exercisable stock options, number (in shares) | 31,362 |
Exercisable stock option, weighted average exercise price (in dollars per shares) | $12.06 |
Exercisable stock options, weighted average remaining contractual life | '6 years 1 month 6 days |
$17.00 - $18.99 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit (in dollars per share) | $17 |
Exercise price range, upper range limit (in dollars per share) | $18.99 |
Outstanding stock options, number (in shares) | 18,118 |
Outstanding stock option, weighted average exercise price (in dollars per share) | $18.19 |
Outstanding stock option, weighted average remaining contractual life | '2 years 1 month 6 days |
Exercisable stock options, number (in shares) | 18,118 |
Exercisable stock option, weighted average exercise price (in dollars per shares) | $18.19 |
Exercisable stock options, weighted average remaining contractual life | '2 years 1 month 6 days |
Earnings_Per_Common_Share_Deta
Earnings Per Common Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income | $2,357 | $1,847 | $6,433 | $6,111 |
Weighted average number of shares outstanding used in the calculation of basic earnings per common share | 7,636,098 | 6,721,699 | 7,592,818 | 6,713,959 |
Add dilutive effect of: | ' | ' | ' | ' |
Stock options (in shares) | 29,601 | 10,089 | 23,262 | 8,898 |
Stock warrants (in shares) | 121,399 | 65,887 | 106,606 | 64,143 |
Adjusted weighted average number of shares outstanding used in the calculation of diluted earnings per common share | 7,787,098 | 6,797,675 | 7,722,686 | 6,787,000 |
Earnings per common share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.31 | $0.27 | $0.85 | $0.91 |
Diluted (in dollars per share) | $0.30 | $0.27 | $0.83 | $0.90 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Property | Property | |||
Fund | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Number of mutual funds that invest in debt securities or loans that qualify for credit under the Community Reinvestment Act | 2 | ' | ||
Redemption notice required to be given to convert capital account, number of days | '60 days | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Number of impaired other real estate owned properties | 6 | 8 | ||
Other real estate owned impaired carrying value | $277 | $1,809 | ||
Fair value of other real estate owned properties | 239 | 1,525 | ||
Impaired charges related to other real estate owned properties included in non-interest expense for the period | 38 | 284 | ||
Number of other real estate owned properties sold | 8 | ' | ||
Other real estate owned properties sold during period carrying value | 843 | ' | ||
Proceeds from sale of other real estate owned properties | 1,054 | ' | ||
Gain on sales of other real estate properties | 211 | ' | ||
Loss on sale of property | ' | -8 | ||
Carrying value of repossessed asset | 6 | 23 | ||
Proceeds from sale of repossessed assets | 8 | 20 | ||
Realized gain (loss) from sale of repossessed assets | 2 | -3 | ||
Assets: | ' | ' | ||
Loans, net | 552,583 | 448,784 | ||
Investment securities, non-taxable, held-to-maturity | 21,058 | 15,424 | ||
Federal Reserve Bank stock | 1,603 | 949 | ||
Federal Home Loan Bank stock | 2,854 | 2,091 | ||
Liabilities: | ' | ' | ||
Deposits | 811,412 | 675,964 | ||
Long-term debt | 13,251 | 14,724 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ||
Assets: | ' | ' | ||
Loans, net | 0 | 0 | ||
Investment securities, non-taxable, held-to-maturity | 0 | 0 | ||
Federal Reserve Bank stock | 1,603 | 949 | ||
Federal Home Loan Bank stock | 2,854 | 2,091 | ||
Liabilities: | ' | ' | ||
Deposits | 0 | 0 | ||
Long-term debt | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ||
Assets: | ' | ' | ||
Loans, net | 552,583 | 448,784 | ||
Investment securities, non-taxable, held-to-maturity | 0 | 0 | ||
Federal Reserve Bank stock | 0 | 0 | ||
Federal Home Loan Bank stock | 0 | 0 | ||
Liabilities: | ' | ' | ||
Deposits | 811,412 | 675,964 | ||
Long-term debt | 13,251 | 14,724 | ||
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Assets: | ' | ' | ||
Loans, net | 0 | 0 | ||
Investment securities, non-taxable, held-to-maturity | 21,058 | 15,424 | ||
Federal Reserve Bank stock | 0 | 0 | ||
Federal Home Loan Bank stock | 0 | 0 | ||
Liabilities: | ' | ' | ||
Deposits | 0 | 0 | ||
Long-term debt | 0 | 0 | ||
Recurring [Member] | ' | ' | ||
Investment securities available-for-sale [Abstract] | ' | ' | ||
U.S. Treasury notes | 8,707 | 18,686 | ||
U.S. Agency notes | 110,779 | 90,606 | ||
U.S. Agency mortgage-backed securities | 45,576 | 52,541 | ||
Corporate securities | ' | 3,067 | ||
Certificates of deposit with other banks | 1,501 | ' | ||
Municipal securities: | ' | ' | ||
Non-taxable | 80,509 | 73,882 | ||
Taxable | 19,685 | 15,841 | ||
Mutual funds | 2,385 | 2,168 | ||
Trust preferred securities | 147 | 245 | ||
Equity securities | 2,015 | 1,470 | ||
Total recurring fair value measurements | 271,304 | 258,506 | ||
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ||
Investment securities available-for-sale [Abstract] | ' | ' | ||
U.S. Treasury notes | 8,707 | 18,686 | ||
U.S. Agency notes | 0 | 0 | ||
U.S. Agency mortgage-backed securities | 0 | 0 | ||
Corporate securities | ' | 3,067 | ||
Certificates of deposit with other banks | 0 | ' | ||
Municipal securities: | ' | ' | ||
Non-taxable | 0 | 0 | ||
Taxable | 0 | 0 | ||
Mutual funds | 1,385 | 1,168 | ||
Trust preferred securities | 147 | 245 | ||
Equity securities | 2,015 | 1,470 | ||
Total recurring fair value measurements | 12,254 | 24,636 | ||
Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ||
Investment securities available-for-sale [Abstract] | ' | ' | ||
U.S. Treasury notes | 0 | 0 | ||
U.S. Agency notes | 110,779 | 90,606 | ||
U.S. Agency mortgage-backed securities | 45,576 | 52,541 | ||
Corporate securities | ' | 0 | ||
Certificates of deposit with other banks | 1,501 | ' | ||
Municipal securities: | ' | ' | ||
Non-taxable | 80,509 | 73,882 | ||
Taxable | 19,685 | 15,841 | ||
Mutual funds | 1,000 | 1,000 | ||
Trust preferred securities | 0 | 0 | ||
Equity securities | 0 | 0 | ||
Total recurring fair value measurements | 259,050 | 233,870 | ||
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Investment securities available-for-sale [Abstract] | ' | ' | ||
U.S. Treasury notes | 0 | 0 | ||
U.S. Agency notes | 0 | 0 | ||
U.S. Agency mortgage-backed securities | 0 | 0 | ||
Corporate securities | ' | 0 | ||
Certificates of deposit with other banks | 0 | ' | ||
Municipal securities: | ' | ' | ||
Non-taxable | 0 | 0 | ||
Taxable | 0 | 0 | ||
Mutual funds | 0 | 0 | ||
Trust preferred securities | 0 | 0 | ||
Equity securities | 0 | 0 | ||
Total recurring fair value measurements | 0 | 0 | ||
Nonrecurring [Member] | ' | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Impaired loans | 11,819 | 4,276 | ||
Other real estate owned and repossessed assets | 1,561 | [1] | 2,189 | [2] |
Total nonrecurring fair value measurements | 13,380 | 6,465 | ||
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Impaired loans | 0 | 0 | ||
Other real estate owned and repossessed assets | 0 | [1] | 0 | [2] |
Total nonrecurring fair value measurements | 0 | 0 | ||
Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Impaired loans | 650 | 161 | ||
Other real estate owned and repossessed assets | 1,561 | [1] | 2,189 | [2] |
Total nonrecurring fair value measurements | 2,211 | 2,350 | ||
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Impaired loans | 11,169 | 4,115 | ||
Other real estate owned and repossessed assets | 0 | [1] | 0 | [2] |
Total nonrecurring fair value measurements | 11,169 | 4,115 | ||
Nonrecurring [Member] | Total Gains (Losses) [Member] | ' | ' | ||
Nonrecurring fair value measurements: | ' | ' | ||
Impaired loans | 0 | 0 | ||
Other real estate owned and repossessed assets | 175 | [1] | -295 | [2] |
Total nonrecurring fair value measurements | $175 | ($295) | ||
[1] | Six other real estate owned properties with a total carrying amount of $277,000 were written down to their combined fair value of $239,000, resulting in an impairment charge of $38,000. Eight other real estate owned properties with a total carrying amount of $843,000 were sold for a combined total of $1,054,000, resulting in a net gain of $211,000. A repossessed asset with a carrying value of $6,000 was sold for $8,000, resulting in a net gain of $2,000. The write-downs, losses, and gains were included in other non-interest expense for the period. | |||
[2] | Eight other real estate owned properties with a total carrying amount of $1,809,000 were written down to their combined fair value of $1,525,000, resulting in an impairment charge of $284,000. Another property was sold at a loss of $8,000. Repossessed assets with a carrying value of $23,000 were sold for a combined total of $20,000, resulting in a net loss of $3,000. The write-downs and losses were included in other non-interest expense for the period. |
Fair_Value_Measurements_By_Bal
Fair Value Measurements, By Balance Sheet Grouping (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment securities: | ' | ' |
Available-for-sale | $271,304 | $258,506 |
FINANCIAL LIABILITIES: | ' | ' |
Deposits | 811,412 | 675,964 |
Long-term debt | 13,251 | 14,724 |
Carrying Amount [Member] | ' | ' |
FINANCIAL ASSETS: | ' | ' |
Cash and cash equivalents | 14,687 | 13,475 |
Investment securities: | ' | ' |
Available-for-sale | 271,304 | 258,506 |
Held-to-maturity | 21,058 | 15,424 |
Federal Reserve Bank stock | 1,603 | 949 |
Federal Home Loan Bank stock | 2,854 | 2,091 |
Loans, net | 562,686 | 450,346 |
FINANCIAL LIABILITIES: | ' | ' |
Deposits | 808,335 | 671,471 |
Short-term borrowings | 22,811 | 13,756 |
Long-term debt | 12,446 | 13,705 |
Fair Value [Member] | ' | ' |
FINANCIAL ASSETS: | ' | ' |
Cash and cash equivalents | 14,687 | 13,475 |
Investment securities: | ' | ' |
Available-for-sale | 271,304 | 258,506 |
Held-to-maturity | 21,058 | 15,424 |
Federal Reserve Bank stock | 1,603 | 949 |
Federal Home Loan Bank stock | 2,854 | 2,091 |
Loans, net | 564,402 | 453,060 |
FINANCIAL LIABILITIES: | ' | ' |
Deposits | 811,412 | 675,964 |
Short-term borrowings | 22,811 | 13,756 |
Long-term debt | $13,251 | $14,724 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Nov. 05, 2013 | Oct. 28, 2013 |
Subsequent Event [Member] | Eaton National [Member] | |||
Subsequent Event [Member] | ||||
Branch | ||||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Business acquisition, percentage of voting interest acquired | ' | ' | ' | 100.00% |
Purchase price of Eaton National | ' | ' | ' | $24,750,000 |
Potential future public offering of voting common stock | ' | ' | ' | 25,000,000 |
Number of branches | ' | ' | ' | 5 |
Total assets | 942,349,000 | 788,637,000 | ' | 191,000,000 |
Loans, net | 562,686,000 | 450,346,000 | ' | 136,000,000 |
Deposits | 808,335,000 | 671,471,000 | ' | 168,000,000 |
Number of shares issued | ' | ' | 1,642,857 | ' |
Stock issuance price (in dollars per share) | ' | ' | $17.50 | ' |
Value of new stock issued | ' | ' | $27,100,000 | ' |