Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 05, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'FAUQUIER BANKSHARES, INC. | ' |
Entity Central Index Key | '0001083643 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 3,713,342 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and due from banks | $5,112 | $4,684 | ||
Interest-bearing deposits in other banks | 48,539 | 59,740 | ||
Federal funds sold | 9 | 11 | ||
Securities available for sale | 50,100 | 48,092 | ||
Restricted investments | 1,462 | 2,337 | ||
Loans | 455,005 | 451,366 | ||
Allowance for loan losses | -6,481 | -6,258 | ||
Net loans | 448,524 | 445,108 | ||
Bank premises and equipment, net | 14,833 | 14,763 | ||
Accrued interest receivable | 1,386 | 1,283 | ||
Other real estate owned, net of allowance | 1,406 | 1,406 | ||
Bank-owned life insurance | 12,335 | 12,038 | ||
Other assets | 11,743 | 11,925 | ||
Total assets | 595,449 | 601,387 | ||
Deposits: | ' | ' | ||
Noninterest-bearing | 91,589 | 89,264 | ||
Interest-bearing: | ' | ' | ||
NOW accounts | 204,108 | 191,039 | ||
Savings accounts and money market accounts | 117,065 | 108,794 | ||
Time deposits | 110,041 | 126,037 | ||
Total interest-bearing | 431,214 | 425,870 | ||
Total deposits | 522,803 | 515,134 | ||
Federal Home Loan Bank advances | 13,155 | 28,200 | ||
Company-obligated mandatorily redeemable capital securities | 4,124 | 4,124 | ||
Other liabilities | 6,482 | 6,181 | ||
Commitments and contingencies | ' | ' | ||
Total liabilities | 546,564 | 553,639 | ||
Shareholders' Equity | ' | ' | ||
Common stock, par value, $3.13; authorized 8,000,000 shares; issued and outstanding: 2013: 3,713,342 shares including 34,109 non-vested shares: 2012: 3,695,160 shares including 31,423 non-vested shares | 11,516 | 11,467 | ||
Retained earnings | 39,647 | 37,993 | ||
Accumulated other comprehensive income (loss), net | -2,278 | [1] | -1,712 | [1] |
Total shareholders' equity | 48,885 | 47,748 | ||
Total liabilities and shareholders' equity | $595,449 | $601,387 | ||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Shareholders' Equity | ' | ' |
Common stock, par value (in dollars per share) | $3.13 | $3.13 |
Common stock, authorized (in shares) | 8,000,000 | 8,000,000 |
Common stock, issued (in shares) | 3,713,342 | 3,695,160 |
Common stock, outstanding (in shares) | 3,713,342 | 3,695,160 |
Common stock, nonvested (in shares) | 34,109 | 31,423 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest Income | ' | ' | ' | ' |
Interest and fees on loans | $5,490 | $5,942 | $16,300 | $18,047 |
Interest and dividends on securities available for sale: | ' | ' | ' | ' |
Taxable interest income | 221 | 230 | 637 | 772 |
Interest income exempt from federal income taxes | 62 | 62 | 184 | 185 |
Dividends | 30 | 28 | 66 | 68 |
Interest on deposits in other banks | 38 | 26 | 123 | 88 |
Total interest income | 5,841 | 6,288 | 17,310 | 19,160 |
Interest Expense | ' | ' | ' | ' |
Interest on deposits | 556 | 693 | 1,719 | 2,260 |
Interest on Federal Home Loan Bank advances | 83 | 234 | 523 | 721 |
Distribution on capital securities of subsidiary trusts | 50 | 50 | 149 | 150 |
Total interest expense | 689 | 977 | 2,391 | 3,131 |
Net interest income | 5,152 | 5,311 | 14,919 | 16,029 |
Provision for loan losses | 333 | 550 | 1,300 | 3,850 |
Net interest income after provision for loan losses | 4,819 | 4,761 | 13,619 | 12,179 |
Other Income | ' | ' | ' | ' |
Trust and estate income | 364 | 336 | 1,087 | 1,079 |
Brokerage income | 83 | 75 | 326 | 237 |
Service charges on deposit accounts | 765 | 664 | 2,092 | 2,010 |
Other service charges, commissions and income | 477 | 467 | 1,364 | 1,301 |
Gain on sale of securities | 0 | 2 | 0 | 165 |
Total other income | 1,689 | 1,544 | 4,869 | 4,792 |
Other Expenses | ' | ' | ' | ' |
Salaries and benefits | 2,302 | 2,360 | 7,114 | 7,123 |
Occupancy expense of premises | 492 | 484 | 1,453 | 1,429 |
Furniture and equipment | 249 | 283 | 777 | 869 |
Marketing expense | 162 | 202 | 452 | 522 |
Legal, audit and consulting expense | 314 | 261 | 952 | 793 |
Data processing expense | 349 | 294 | 996 | 912 |
Federal Deposit Insurance Corporation expense | 120 | 121 | 388 | 345 |
Loss on sale or impairment and expense of other real estate owned, net | 0 | 8 | 9 | 13 |
Other operating expenses | 938 | 628 | 2,453 | 2,093 |
Total other expenses | 4,926 | 4,641 | 14,594 | 14,099 |
Income before income taxes | 1,582 | 1,664 | 3,894 | 2,872 |
Income tax expense | 418 | 452 | 964 | 627 |
Net Income | $1,164 | $1,212 | $2,930 | $2,245 |
Earnings per Share, basic (in dollars per share) | $0.31 | $0.33 | $0.79 | $0.61 |
Earnings per Share, assuming dilution (in dollars per share) | $0.31 | $0.33 | $0.79 | $0.61 |
Dividends per Share (in dollars per share) | $0.12 | $0.12 | $0.36 | $0.36 |
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 |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ' | ' | ' | ' |
Net Income | $1,164 | $1,212 | $2,930 | $2,245 |
Other comprehensive income, net of tax: | ' | ' | ' | ' |
Interest rate swap, net of tax effect of $0 in 2013 and $26 in 2012 | 0 | -51 | 166 | -419 |
Change in fair value of securities available-for-sale net of tax effect of $(14) in 2013 and $(88) in 2012 | 28 | 172 | -732 | 244 |
Adjustment for gain on sale of securities available-for-sale, net of tax of $0 in 2013 and $1 in 2012 | 0 | -1 | 0 | -109 |
Total other comprehensive income (loss), net of tax of $(14) in 2013 and $(61) in 2012 | 28 | 120 | -566 | -284 |
Comprehensive Income | $1,192 | $1,332 | $2,364 | $1,961 |
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 of tax: | ' | ' | ' | ' |
Interest rate swap, tax benefit | $0 | $26 | ($86) | $216 |
Change in fair value of securities available-for-sale, tax effect | -14 | -88 | 377 | -126 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | 0 | 1 | 0 | 56 |
Other comprehensive income (loss), tax effect | ($14) | ($61) | $292 | $146 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, unless otherwise specified | ||||
Balance at Dec. 31, 2011 | $11,384 | $37,504 | ' | $47,571 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Cash dividends | ' | -1,330 | ' | -1,330 |
Balance at Jun. 30, 2012 | ' | ' | ' | ' |
Balance at Dec. 31, 2011 | 11,384 | ' | -1,317 | 47,571 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net income | ' | ' | ' | 2,245 |
Other comprehensive income net of tax effect | ' | ' | -284 | -284 |
Balance at Sep. 30, 2012 | ' | ' | -1,601 | 48,459 |
Balance at Jun. 30, 2012 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net income | ' | ' | ' | 1,212 |
Other comprehensive income net of tax effect | ' | ' | ' | 120 |
Amortization of unearned compensation, restricted stock awards | ' | 104 | ' | 104 |
Issuance of common stock - nonvested shares | 41 | -41 | ' | 0 |
Issuance of common stock - vested shares | 42 | 111 | ' | 153 |
Balance at Sep. 30, 2012 | 11,467 | 38,593 | ' | 48,459 |
Balance at Dec. 31, 2012 | 11,467 | 37,993 | ' | 47,748 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Cash dividends | ' | -1,337 | ' | -1,337 |
Balance at Jun. 30, 2013 | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 11,467 | ' | -1,712 | 47,748 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net income | ' | ' | ' | 2,930 |
Other comprehensive income net of tax effect | ' | ' | -566 | -566 |
Balance at Sep. 30, 2013 | ' | ' | -2,278 | 48,885 |
Balance at Jun. 30, 2013 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net income | ' | ' | ' | 1,164 |
Other comprehensive income net of tax effect | ' | ' | ' | 28 |
Amortization of unearned compensation, restricted stock awards | ' | 111 | ' | 111 |
Issuance of common stock - nonvested shares | 31 | -31 | ' | 0 |
Issuance of common stock - vested shares | 18 | 50 | ' | 68 |
Tax benefit of restricted stock grant | ' | -69 | ' | -69 |
Balance at Sep. 30, 2013 | $11,516 | $39,647 | ' | $48,885 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Comprehensive income: | ' | ' |
Other comprehensive income, tax | ($14) | ($61) |
Cash dividends (in dollars per share) | $0.12 | $0.12 |
Issuance of common stock - nonvested shares (in shares) | 9,784 | 13,074 |
Issuance of common stock - vested shares (in shares) | 5,712 | 13,477 |
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 | $2,930 | $2,245 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 832 | 881 |
Asset Retirement Obligation, Accretion Expense | 11 | 0 |
Provision for loan losses | 1,300 | 3,850 |
(Gain) loss on interest rate swaps | -38 | 0 |
(Gain) on sale and call of securities | 0 | -165 |
Amortization of security premiums, net | 47 | 26 |
Amortization of unearned compensation, net of forfeiture | 111 | 104 |
Tax benefit of vested stock grant | -69 | 0 |
Changes in assets and liabilities: | ' | ' |
(Increase) in other assets | 127 | -1,321 |
Increase (decrease) in other liabilities | 798 | -1,401 |
Net cash provided by operating activities | 6,049 | 4,219 |
Cash Flows from Investing Activities | ' | ' |
Proceeds from Sale of Available-for-sale Securities, Debt | 0 | 3,684 |
Proceeds from maturities, calls and principal payments of securities available for sale | 13,625 | 15,858 |
Purchase of securities available for sale | -16,789 | -24,717 |
Purchase of premises and equipment | -913 | -1,150 |
Redemptions (purchases) of restricted securities | 875 | 350 |
Net decrease in loans | -4,977 | 2,932 |
Proceeds from sale of other real estate owned | 0 | 0 |
Net cash provided by (used in) investing activities | -8,179 | -3,043 |
Cash Flows from Financing Activities | ' | ' |
Net increase (decrease) in demand deposits, NOW accounts and savings accounts | 23,665 | -6,745 |
Net increase (decrease) in certificates of deposit | -15,996 | -31,820 |
Decrease in FHLB advances | -15,045 | 0 |
Cash dividends paid on common stock | -1,337 | -1,330 |
Issuance of common stock | 68 | 153 |
Net cash (used in) financing activities | -8,645 | -39,742 |
(Decrease) in cash and cash equivalents | -10,775 | -38,566 |
Cash and Cash Equivalents | ' | ' |
Beginning | 64,435 | 72,160 |
Ending | 53,660 | 33,594 |
Cash payments for: | ' | ' |
Interest | 2,480 | 3,194 |
Income taxes | 11 | 2,038 |
Supplemental Disclosures of Noncash Investing Activities | ' | ' |
Unrealized (loss) on securities available for sale, net of tax effect | -732 | 135 |
Unrealized gain (loss) on interest rate swap, net of taxes | $166 | ($419) |
General
General | 9 Months Ended |
Sep. 30, 2013 | |
General [Abstract] | ' |
General | ' |
The consolidated financial statements include the accounts of Fauquier Bankshares, Inc. ("the Company") and its wholly-owned subsidiaries: The Fauquier Bank ("the Bank") and Fauquier Statutory Trust II; and the Bank's wholly-owned subsidiary, Fauquier Bank Services, Inc. In consolidation, significant intercompany financial balances and transactions have been eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial positions as of September 30, 2013 and December 31, 2012 and the results of operations for the three and nine months ended September 30, 2013 and 2012. The notes included herein should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's 2012 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC"). | |
The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results expected for the full year. | |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2011-11, "Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities." This ASU requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In January 2013, the FASB issued ASU 2013-01, "Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities." The amendments in this ASU clarify the scope for 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 or subject to netting arrangements. An entity is required to apply the amendments for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In February 2013, the FASB issued ASU 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The amendments in this ASU require an entity to present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income. In addition, the amendments require a cross-reference to other disclosures currently required for other reclassification items to be reclassified directly to net income in their entirety in the same reporting period. Companies should apply these amendments for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The Company has included the required disclosures from ASU 2013-02 in the consolidated financial statements. | |
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||||||||||||
Note 2. Securities | |||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale, with unrealized gains and losses follows: | |||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||||
(In thousands) | Cost | Gains | (Losses) | Fair Value | |||||||||||||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 42,331 | $ | 373 | $ | (474 | ) | $ | 42,230 | ||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,782 | 297 | (1 | ) | 7,078 | ||||||||||||||||||||||||||||||
Corporate bonds | 3,861 | - | (3,421 | ) | 440 | ||||||||||||||||||||||||||||||
Mutual funds | 351 | 1 | - | 352 | |||||||||||||||||||||||||||||||
$ | 53,325 | $ | 671 | $ | (3,896 | ) | $ | 50,100 | |||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||||
Cost | Gains | (Losses) | Fair Value | ||||||||||||||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 39,240 | $ | 794 | $ | (20 | ) | $ | 40,014 | ||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,786 | 604 | - | 7,390 | |||||||||||||||||||||||||||||||
Corporate bonds | 3,836 | - | (3,511 | ) | 325 | ||||||||||||||||||||||||||||||
Mutual funds | 346 | 17 | - | 363 | |||||||||||||||||||||||||||||||
$ | 50,208 | $ | 1,415 | $ | (3,531 | ) | $ | 48,092 | |||||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties. | |||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
(In thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 1,999 | $ | 2,023 | |||||||||||||||||||||||||||||||
Due after one year through five years | 10,044 | 9,961 | |||||||||||||||||||||||||||||||||
Due after five years through ten years | 13,816 | 14,111 | |||||||||||||||||||||||||||||||||
Due after ten years | 27,115 | 23,653 | |||||||||||||||||||||||||||||||||
Equity securities | 351 | 352 | |||||||||||||||||||||||||||||||||
$ | 53,325 | $ | 50,100 | ||||||||||||||||||||||||||||||||
There were no impairment losses on securities during the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, no securities were sold, and six securities totaling a fair value of $7.0 million were called or matured. Over the same period, fourteen securities totalling $16.8 million were purchased. | |||||||||||||||||||||||||||||||||||
The following table shows the Company securities with gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||||
(In thousands) | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||
30-Sep-13 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||
(Losses) | (Losses) | (Losses) | |||||||||||||||||||||||||||||||||
Obligations of U.S. Government, corporations and agencies | $ | 22,412 | $ | (474 | ) | $ | - | $ | - | $ | 22,412 | $ | (474 | ) | |||||||||||||||||||||
Obligations of states and political subdivisions | 513 | (1 | ) | - | - | 513 | (1 | ) | |||||||||||||||||||||||||||
Corporate bonds | - | - | 440 | (3,421 | ) | 440 | (3,421 | ) | |||||||||||||||||||||||||||
Total temporary impaired securities | $ | 22,925 | $ | (475 | ) | $ | 440 | $ | (3,421 | ) | $ | 23,365 | $ | (3,896 | ) | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
31-Dec-12 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||
(Losses) | (Losses) | (Losses) | |||||||||||||||||||||||||||||||||
Obligations of U.S. Government, corporations and agencies | $ | 2,165 | $ | (20 | ) | $ | - | $ | - | $ | 2,165 | $ | (20 | ) | |||||||||||||||||||||
Obligations of states and political subdivisions | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Corporate bonds | - | - | 325 | (3,511 | ) | 325 | (3,511 | ) | |||||||||||||||||||||||||||
Total temporary impaired securities | $ | 2,165 | $ | (20 | ) | $ | 325 | $ | (3,511 | ) | $ | 2,490 | $ | (3,531 | ) | ||||||||||||||||||||
The nature of securities which were temporarily impaired for a continuous twelve month period or more at September 30, 2013 consisted of four corporate bonds with a cost basis net of other-than-temporary impairment ("OTTI") totaling $3.9 million and a temporary loss of approximately $3.4 million. The method for valuing these four corporate bonds came from Moody's Analytics. Moody's Analytics employs a two-step discounted cash-flow valuation process. The first step is to evaluate the financial condition of the individual creditors in order to estimate the credit quality of the collateral pool and the structural supports. Step two is to apply a discount rate to the cash flows to calculate a value. These four corporate bonds are the "Class B" or subordinated "mezzanine" tranche of pooled trust preferred securities. The trust preferred securities are collateralized by the interest and principal payments made on trust preferred capital offerings by a geographically diversified pool of approximately 59 different financial institutions per bond. They have an estimated maturity of 20 years. These bonds could have been called at par on the five year anniversary date of issuance, which has already passed for all four bonds. The bonds reprice every three months at a fixed rate index above the three-month London Interbank Offered Rate ("LIBOR"). These bonds have sufficient collateralization and cash flow projections to satisfy their valuation based on the cash flow portion of the OTTI test under authoritative accounting guidance as of September 30, 2013. Three bonds totaling $128,000 at fair value, are greater than 90 days past due, and are classified as nonperforming corporate bond investments in the nonperforming asset table in Note 3. One bond, totaling $312,000 at fair value, has been performing for five consecutive quarters, is projected to repay the full outstanding interest and principal, and is now classified as a performing corporate bond investment. | |||||||||||||||||||||||||||||||||||
Additional information regarding each of the pooled trust preferred securities as of September 30, 2013 follows: | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Cost, net of | Fair Value | Percent of | Percent of | Percent of | Estimated | Current | Cumulative | Cumulative Other | |||||||||||||||||||||||||||
OTTI loss | Underlying | Underlying | Underlying | incremental | Moody's | Amount of | Comprehensive | ||||||||||||||||||||||||||||
Collateral | Collateral in | Collateral in | defaults required | Rating | OTTI Loss | Loss, net of tax | |||||||||||||||||||||||||||||
Performing | Deferral | Default | to break yield (1) | benefit | |||||||||||||||||||||||||||||||
$ | 357 | $ | 33 | 65.1 | % | 5.9 | % | 29 | % | broken | Caa3 | $ | 584 | $ | 213 | ||||||||||||||||||||
1,610 | 312 | 67.9 | % | 11.9 | % | 20.2 | % | 3.9 | % | Caa3 | 348 | 856 | |||||||||||||||||||||||
1,323 | 60 | 63 | % | 29 | % | 8 | % | broken | Ca | 677 | 834 | ||||||||||||||||||||||||
571 | 35 | 67 | % | 22 | % | 11 | % | broken | C | 429 | 354 | ||||||||||||||||||||||||
$ | 3,861 | $ | 440 | $ | 2,038 | $ | 2,257 | ||||||||||||||||||||||||||||
-1 | A break in yield for a given tranche investment means that defaults and/or deferrals have reached such a level that the specific tranche would not receive all of the contractual principal and interest cash flow by its maturity, resulting in not a temporary shortfall, but an actual loss. This column represents the percentage of additional defaults among the currently performing and deferred collateral that would result in OTTI loss. | ||||||||||||||||||||||||||||||||||
The Company monitors these pooled trust preferred securities in its portfolio as to collateral, issuer defaults and deferrals, which as a general rule, indicate that additional impairment may have occurred. Due to the continued stress on banks in general, and the issuer banks in particular, as a result of overall economic conditions, the Company acknowledges that it may have to recognize additional impairment in future periods; however the extent, timing, and probability of any additional impairment cannot be reasonably estimated at this time. | |||||||||||||||||||||||||||||||||||
The following roll forward reflects the amount related to credit losses recognized in earnings (in accordance with FASB Accounting Standards Codification ("ASC") 320-10-35-34D): | |||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Beginning balance as of December 31, 2012 | $ | 2,115 | |||||||||||||||||||||||||||||||||
Add: Amount related to the credit loss for which an other-than- temporary impairment was not previously recognized | - | ||||||||||||||||||||||||||||||||||
Add: Increases to the amount related to the credit loss for which an other-than temporary impairment was previously recognized | - | ||||||||||||||||||||||||||||||||||
Less: Realized losses for securities sold | - | ||||||||||||||||||||||||||||||||||
Less: Securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. | - | ||||||||||||||||||||||||||||||||||
Less: Increases in cash flows expected to be collected that are recognized over the remaining life of the security (See FASB ASC 320-10-35-35) | (77 | ) | |||||||||||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 2,038 | |||||||||||||||||||||||||||||||||
The carrying value of securities pledged to secure deposits and for other purposes amounted to $43.3 million and $41.5 million at September 30, 2013 and December 31, 2012, respectively. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||||||
Note 3. | Loans and Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans Receivable | |||||||||||||||||||||||||||||||||||||
As of and for the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Unallocated | Total | ||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance at 12/31/2012 | $ | 932 | $ | 1,685 | $ | 402 | $ | 40 | $ | - | $ | 1,691 | $ | 1,336 | $ | 172 | $ | 6,258 | |||||||||||||||||||
Charge-offs | (257 | ) | (550 | ) | - | (104 | ) | - | (82 | ) | (174 | ) | - | (1,167 | ) | ||||||||||||||||||||||
Recoveries | 59 | - | - | 23 | - | 2 | 6 | - | 90 | ||||||||||||||||||||||||||||
Provision | 338 | 1,161 | 40 | 64 | 72 | (209 | ) | (275 | ) | 109 | 1,300 | ||||||||||||||||||||||||||
Ending balance at 9/30/2013 | $ | 1,072 | $ | 2,296 | $ | 442 | $ | 23 | $ | 72 | $ | 1,402 | $ | 893 | $ | 281 | $ | 6,481 | |||||||||||||||||||
Ending balances individually evaluated for impairment | $ | 219 | $ | 515 | $ | 341 | $ | - | $ | - | $ | 202 | $ | - | $ | - | $ | 1,277 | |||||||||||||||||||
Ending balances collectively evaluated for impairment | $ | 853 | $ | 1,781 | $ | 101 | $ | 23 | $ | 72 | $ | 1,200 | $ | 893 | $ | 281 | $ | 5,204 | |||||||||||||||||||
Loans Receivable | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 481 | $ | 6,868 | $ | 4,130 | $ | - | $ | - | $ | 2,145 | $ | 98 | $ | 13,722 | |||||||||||||||||||||
Collectively evaluated for impairment | 24,248 | 176,434 | 31,702 | 3,756 | 24,578 | 137,411 | 43,154 | 441,283 | |||||||||||||||||||||||||||||
Ending balance at 9/30/2013 | $ | 24,729 | $ | 183,302 | $ | 35,832 | $ | 3,756 | $ | 24,578 | $ | 139,556 | $ | 43,252 | $ | 455,005 | |||||||||||||||||||||
As of and for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Unallocated | Total | ||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance at 12/31/2011 | $ | 795 | $ | 2,899 | $ | 195 | $ | 31 | $ | - | $ | 1,584 | $ | 698 | $ | 526 | $ | 6,728 | |||||||||||||||||||
Charge-offs | (526 | ) | (5,004 | ) | - | (117 | ) | - | (126 | ) | (536 | ) | - | (6,309 | ) | ||||||||||||||||||||||
Recoveries | 7 | 9 | - | 14 | - | 2 | - | - | 32 | ||||||||||||||||||||||||||||
Provision | 656 | 3,781 | 207 | 112 | - | 231 | 1,174 | (354 | ) | 5,807 | |||||||||||||||||||||||||||
Ending balance at 12/31/2012 | $ | 932 | $ | 1,685 | $ | 402 | $ | 40 | $ | - | $ | 1,691 | $ | 1,336 | $ | 172 | $ | 6,258 | |||||||||||||||||||
Ending balances individually evaluated for impairment | $ | 428 | $ | - | $ | 293 | $ | - | $ | - | $ | 176 | $ | 112 | $ | - | $ | 1,009 | |||||||||||||||||||
Ending balances collectively evaluated for impairment | $ | 504 | $ | 1,685 | $ | 109 | $ | 40 | $ | - | $ | 1,515 | $ | 1,224 | $ | 172 | $ | 5,249 | |||||||||||||||||||
Loans Receivable | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 674 | $ | 9,612 | $ | 4,175 | $ | 4 | $ | - | $ | 2,372 | $ | 228 | $ | 17,065 | |||||||||||||||||||||
Collectively evaluated for impairment | 26,466 | 183,393 | 35,870 | 4,563 | 4,994 | 134,218 | 44,797 | 434,301 | |||||||||||||||||||||||||||||
Ending balance at 12/31/2012 | $ | 27,140 | $ | 193,005 | $ | 40,045 | $ | 4,567 | $ | 4,994 | $ | 136,590 | $ | 45,025 | $ | 451,366 | |||||||||||||||||||||
The Company's allowance for loan losses has three basic components: the specific allowance, the general allowance, and the unallocated components. The specific allowance is used to individually allocate an allowance for larger balance, non-homogeneous loans identified as impaired. The general allowance is used for estimating the loss on pools of smaller-balance, homogeneous loans; including 1-4 family mortgage loans, installment loans and other consumer loans. Also, the general allowance is used for the remaining pool of larger balance, non-homogeneous loans which were not identified as impaired. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodolgies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Total | |||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 20,965 | $ | 149,331 | $ | 31,702 | $ | 3,749 | $ | 24,578 | $ | 125,485 | $ | 39,399 | $ | 395,209 | |||||||||||||||||||||
Special mention | 1,332 | 21,293 | - | - | - | 6,764 | 2,751 | 32,140 | |||||||||||||||||||||||||||||
Substandard | 2,257 | 12,678 | 3,994 | 7 | - | 6,616 | 1,102 | 26,654 | |||||||||||||||||||||||||||||
Doubtful | 175 | - | 136 | - | - | 691 | - | 1,002 | |||||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Total | $ | 24,729 | $ | 183,302 | $ | 35,832 | $ | 3,756 | $ | 24,578 | $ | 139,556 | $ | 43,252 | $ | 455,005 | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Total | |||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 21,704 | $ | 152,483 | $ | 35,871 | $ | 4,558 | $ | 4,994 | $ | 120,451 | $ | 40,189 | $ | 380,250 | |||||||||||||||||||||
Special mention | 2,635 | 21,455 | - | - | - | 9,016 | 2,878 | 35,984 | |||||||||||||||||||||||||||||
Substandard | 2,391 | 19,067 | 4,038 | 9 | - | 6,456 | 1,958 | 33,919 | |||||||||||||||||||||||||||||
Doubtful | 410 | - | 136 | - | - | 667 | - | 1,213 | |||||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Total | $ | 27,140 | $ | 193,005 | $ | 40,045 | $ | 4,567 | $ | 4,994 | $ | 136,590 | $ | 45,025 | $ | 451,366 | |||||||||||||||||||||
Age Analysis of Past Due Loans Receivable | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days | 60-89 Days | 90 Days or More Past Due | Total Past Due | Current | Total Financing | Carrying | Nonaccruals | |||||||||||||||||||||||||||||
Past Due | Past Due | Receivables | Amount > 90 | ||||||||||||||||||||||||||||||||||
Days and | |||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | - | $ | - | $ | 162 | $ | 162 | $ | 24,567 | $ | 24,729 | $ | - | $ | 386 | |||||||||||||||||||||
Commercial real estate | - | - | 3,133 | 3,133 | 180,169 | 183,302 | - | 3,133 | |||||||||||||||||||||||||||||
Construction and land | 61 | - | 136 | 197 | 35,635 | 35,832 | - | 136 | |||||||||||||||||||||||||||||
Consumer | 37 | - | 1 | 38 | 3,718 | 3,756 | 1 | - | |||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | 9,399 | 306 | 3,629 | 13,334 | 11,244 | 24,578 | 3,629 | - | |||||||||||||||||||||||||||||
Residential real estate | 593 | 486 | 879 | 1,958 | 137,598 | 139,556 | - | 1,405 | |||||||||||||||||||||||||||||
Home equity line of credit | 27 | - | - | 27 | 43,225 | 43,252 | - | - | |||||||||||||||||||||||||||||
Total | $ | 10,117 | $ | 792 | $ | 7,940 | $ | 18,849 | $ | 436,156 | $ | 455,005 | $ | 3,630 | $ | 5,060 | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Financing | Carrying | Nonaccruals | |||||||||||||||||||||||||||||
Receivables | Amount > 90 | ||||||||||||||||||||||||||||||||||||
Days and | |||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 92 | $ | 52 | $ | 41 | $ | 185 | $ | 26,955 | $ | 27,140 | $ | - | $ | 643 | |||||||||||||||||||||
Commercial real estate | - | - | 7,712 | 7,712 | 185,293 | 193,005 | - | 7,712 | |||||||||||||||||||||||||||||
Construction and land | 508 | 250 | 136 | 894 | 39,151 | 40,045 | - | 136 | |||||||||||||||||||||||||||||
Consumer | 39 | 10 | 5 | 54 | 4,513 | 4,567 | 1 | 4 | |||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | 4,994 | 4,994 | - | - | |||||||||||||||||||||||||||||
Residential real estate | 2,397 | 397 | 1,474 | 4,268 | 132,322 | 136,590 | - | 1,927 | |||||||||||||||||||||||||||||
Home equity line of credit | 1,424 | - | 311 | 1,735 | 43,290 | 45,025 | 131 | 228 | |||||||||||||||||||||||||||||
Total | $ | 4,460 | $ | 709 | $ | 9,679 | $ | 14,848 | $ | 436,518 | $ | 451,366 | $ | 132 | $ | 10,650 | |||||||||||||||||||||
The Company began purchasing rehabilitated student loans under the Federal Rehabilitated Student Loan Program during the quarter ended December 31, 2012. The repayment of both principal and accrued interest are 98% guaranteed by the U.S. Department of Education. At September 30, 2013, $3.6 million of the student loans were 90 days or more past due and still accruing. | |||||||||||||||||||||||||||||||||||||
Impaired Loans Receivable | |||||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 151 | $ | 151 | $ | - | $ | 177 | $ | 5 | |||||||||||||||||||||||||||
Commercial real estate | 4,292 | 4,292 | - | 4,302 | 72 | ||||||||||||||||||||||||||||||||
Construction and land | 1,997 | 1,997 | - | 2,018 | 76 | ||||||||||||||||||||||||||||||||
Student (U.S. Govenment guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 1,217 | 1,217 | - | 1,251 | 12 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 98 | 98 | - | 249 | 10 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 330 | $ | 330 | $ | 219 | $ | 344 | $ | 2 | |||||||||||||||||||||||||||
Commercial real estate | 2,576 | 2,576 | 515 | 2,857 | 68 | ||||||||||||||||||||||||||||||||
Construction and land | 2,133 | 2,133 | 341 | 2,134 | 66 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 928 | 928 | 202 | 947 | 13 | ||||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 481 | $ | 481 | $ | 219 | $ | 521 | $ | 7 | |||||||||||||||||||||||||||
Commercial real estate | 6,868 | 6,868 | 515 | 7,159 | 140 | ||||||||||||||||||||||||||||||||
Construction and land | 4,130 | 4,130 | 341 | 4,152 | 142 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 2,145 | 2,145 | 202 | 2,198 | 24 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 98 | 98 | - | 249 | 10 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total | $ | 13,722 | $ | 13,722 | $ | 1,277 | $ | 14,279 | $ | 323 | |||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 109 | $ | 109 | $ | - | $ | 136 | $ | 2 | |||||||||||||||||||||||||||
Commercial real estate | 9,612 | 12,523 | - | 11,613 | 650 | ||||||||||||||||||||||||||||||||
Construction and land | 3,711 | 3,711 | - | 4,134 | 200 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 1,705 | 1,705 | - | 1,734 | 39 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 47 | 47 | - | 47 | 1 | ||||||||||||||||||||||||||||||||
Consumer | 4 | 4 | - | 5 | - | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 565 | $ | 565 | $ | 428 | $ | 575 | $ | 5 | |||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Construction and land | 464 | 464 | 293 | 594 | 21 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 667 | 667 | 176 | 692 | - | ||||||||||||||||||||||||||||||||
Home equity line of credit | 181 | 181 | 112 | 180 | 3 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 674 | $ | 674 | $ | 428 | $ | 711 | $ | 7 | |||||||||||||||||||||||||||
Commercial real estate | 9,612 | 12,523 | - | 11,613 | 650 | ||||||||||||||||||||||||||||||||
Construction and land | 4,175 | 4,175 | 293 | 4,728 | 221 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 2,372 | 2,372 | 176 | 2,426 | 39 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 228 | 228 | 112 | 227 | 4 | ||||||||||||||||||||||||||||||||
Consumer | 4 | 4 | - | 5 | - | ||||||||||||||||||||||||||||||||
Total | $ | 17,065 | $ | 19,976 | $ | 1,009 | $ | 19,710 | $ | 921 | |||||||||||||||||||||||||||
Authoritative accounting guidance requires that the impairment of loans that have been separately identified for evaluation is to be measured based on the present value of expected future cash flows or, alternatively, the observable market price of the loans or the fair value of the collateral. However, for those loans that are collateral dependent (that is, if repayment of those loans is expected to be provided solely by the underlying collateral) and for which management has determined foreclosure is probable, the measure of impairment is to be based on the net realizable value of the collateral. Authoritative accounting guidance also requires certain disclosures about investments in impaired loans and the allowance for loan losses and interest income recognized on loans. | |||||||||||||||||||||||||||||||||||||
A loan is considered impaired when it is probable that the Bank will be unable to collect all principal and interest amounts according to the contractual terms of the loan agreement. Factors involved in determining impairment include, but are not limited to, expected future cash flows, financial condition of the borrower, and the current economic conditions. A performing loan may be considered impaired if the factors above indicate a need for impairment. A loan on non-accrual status may not be impaired if it is in the process of collection or if the shortfall in payment is insignificant. A delay of less than 30 days or a shortfall of less than 5% of the required principal and interest payments generally is considered "insignificant" and would not indicate an impairment situation, if in management's judgment the loan will be paid in full. Loans that meet the regulatory definitions of doubtful or loss generally qualify as impaired loans under authoritative accounting guidance. As is the case for all loans, charge-offs for impaired loans occur when the loan or portion of the loan is determined to be uncollectible. | |||||||||||||||||||||||||||||||||||||
At September 30, 2013, there were $7.8 million of commercial loans classified as substandard which were deemed not to be impaired. Impaired loans totaled $13.7 million at September 30, 2013, representing a decrease of $3.3 million from December 31, 2012, due primarily to the payoff of one commercial real estate loan. Approximately $13.2 million of loans classified as impaired at September 30, 2013 were collateralized by commercial buildings, residential real estate, or land. | |||||||||||||||||||||||||||||||||||||
No additional funds are committed to be advanced in connection with impaired loans. | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 292 | $ | 94 | 1 | $ | 198 | $ | 198 | |||||||||||||||||||||||||||
Commercial real estate | - | - | - | 1 | 1,783 | 1,783 | |||||||||||||||||||||||||||||||
Construction and Land | 1 | 1,673 | 1,673 | 1 | 1,673 | 1,673 | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted | - | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Construction and Land | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 292 | $ | 94 | 2 | $ | 435 | $ | 435 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 2,010 | 2,010 | 2 | 3,683 | 3,683 | |||||||||||||||||||||||||||||||
Construction and Land | 2 | 2,481 | 2,481 | 4 | 3,473 | 3,473 | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | 1 | 300 | 300 | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 237 | 237 | - | - | - | |||||||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Construction and Land | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
During the quarter ended September 30, 2013, two one commercial and one land loan were modified and deemed Troubled Debt Restructurings ("TDRs") due to extention of maturity dates. At the end of the quarter, thirteen TDRs, totaling $9.5 million, were in the portfolio. Nine of the loans, totaling $8.6 million, were on accrual status and performing in accordance with the modified terms. The remaining four loans, totaling $1.0 million, remained in nonaccrual status due to irregular payments. Appropriate specific reserves have been established. Restructured loans are included in the specific reserve calculation in the allowance for loan losses and are included in impaired loans. | |||||||||||||||||||||||||||||||||||||
Non-performing Assets, Restructured Loans Still Accruing, and Loans Contractually Past Due | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 5,060 | $ | 10,650 | $ | 12,428 | |||||||||||||||||||||||||||||||
Other real estate owned | 1,406 | 1,406 | 1,776 | ||||||||||||||||||||||||||||||||||
Non-performing corporate bond investments, at fair value | 128 | 325 | 303 | ||||||||||||||||||||||||||||||||||
Total non-performing assets | 6,594 | 12,381 | 14,507 | ||||||||||||||||||||||||||||||||||
Restructured loans still accruing | 8,564 | 5,556 | 5,562 | ||||||||||||||||||||||||||||||||||
Student loans (U.S. Government guaranteed) past due 90 days or more and still accruing | 3,629 | - | - | ||||||||||||||||||||||||||||||||||
Loans past due 90 or more days and still accruing | 1 | 132 | 248 | ||||||||||||||||||||||||||||||||||
Total non-performing and other risk assets | $ | 18,788 | $ | 18,069 | $ | 20,317 | |||||||||||||||||||||||||||||||
Allowance for loan losses to total loans | 1.42 | % | 1.39 | % | 1.9 | % | |||||||||||||||||||||||||||||||
Non-accrual loans to total loans | 1.11 | % | 2.36 | % | 2.74 | % | |||||||||||||||||||||||||||||||
Allowance for loan losses to non-accrual loans | 128.08 | % | 58.76 | % | 69.25 | % | |||||||||||||||||||||||||||||||
Total non-accrual loans and restructured loans still accruing to total loans | 2.99 | % | 3.59 | % | 3.96 | % | |||||||||||||||||||||||||||||||
Allowance for loan losses to non-accrual loans and restructured loans still accruing | 47.57 | % | 38.62 | % | 47.84 | % | |||||||||||||||||||||||||||||||
Total non-performing assets to total assets | 1.11 | % | 2.06 | % | 2.52 | % | |||||||||||||||||||||||||||||||
Restructured loans on non-accrual status are included with non-accrual loans and not with restructured loans in the above table. | |||||||||||||||||||||||||||||||||||||
CompanyObligated_Mandatorily_R
Company-Obligated Mandatorily Redeemable Capital Securities | 9 Months Ended | ||
Sep. 30, 2013 | |||
Company-Obligated Mandatorily Redeemable Capital Securities [Abstract] | ' | ||
Company-Obligated Mandatorily Redeemable Capital Securities | ' | ||
Note 4. | Company-Obligated Mandatorily Redeemable Capital Securities | ||
On September 21, 2006, the Company's wholly-owned Connecticut statutory business trust privately issued $4.0 million face amount of the trust's Floating Rate Capital Securities in a pooled capital securities offering ("Trust II"). Simultaneously, the trust used the proceeds of that sale to purchase $4.0 million principal amount of the Company's Floating Rate Junior Subordinated Deferrable Interest Debentures due 2036. The interest rate on the capital security resets every three months at 2.00% above the then current three month LIBOR. Interest is paid quarterly. Total capital securities at September 30, 2013 and December 31, 2012 were $4,124,000. The Trust II issuance of capital securities and the respective subordinated debentures are callable at any time after five years from the issue date. The subordinated debentures are an unsecured obligation of the Company and are junior in right of payment to all present and future senior indebtedness of the Company. The capital securities are guaranteed by the Company on a subordinated basis. | |||
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Derivative Instruments and Hedging Activities [Abstract] | ' | ||||||||||
Derivative Instruments and Hedging Activities | ' | ||||||||||
Note 5. | Derivative Instruments and Hedging Activities | ||||||||||
Accounting principles generally accepted in the United States ("U.S. GAAP") requires that all derivatives be recognized in the Consolidated Financial Statements at their fair values. On the date that the derivative contract is entered into, the Company designates the derivative as a hedge of variable cash flows to be paid or received in conjunction with recognized assets or liabilities, as a cash-flow or fair value hedge. For a derivative treated as a cash flow hedge, the ineffective portion of changes in fair value is reported in current period earnings. The effective portion of the cash flow hedge is recorded as an adjustment to the hedged item through other comprehensive income. For a derivative treated as a fair value hedge, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings in interest income. The Company uses interest rate swaps to reduce interest rate risks and to manage net interest income. | |||||||||||
The Company formally assesses, both at the hedges' inception, and on an on-going basis, whether derivatives used in hedging transactions have been highly effective in offsetting changes in cash flows of hedged items and whether those derivatives are expected to remain highly effective in subsequent periods. The Company discontinues hedge accounting when (a) it determines that a derivative is no longer effective in offsetting changes in cash flows of a hedged item; (b) the derivative expires or is sold, terminated or exercised; (c) probability exists that the forecasted transaction will no longer occur; or (d) management determines that designating the derivative as a hedging instrument is no longer appropriate. In all cases in which hedge accounting is discontinued and a derivative remains outstanding, the Company will carry the derivative at fair value in the Consolidated Financial Statements, recognizing changes in fair value in current period income in the consolidated statement of income. | |||||||||||
The Company follows U.S. GAAP, FASB ASU 815-10-50 "Disclosures about Derivative Instruments and Hedging Activities", which includes the disclosure requirements for derivative instruments and hedging activities to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for and (c) how derivative instruments and related hedged items affect an entity's financial position, financial performance and cash flows. | |||||||||||
Interest differentials paid or received under the swap agreements are reflected as adjustments to interest income. These interest rate swap agreements include both cash flow and fair value hedge derivative instruments that qualify for hedge accounting. The notional amounts of the interest rate swaps are not exchanged and do not represent exposure to credit loss. In the event of default by a counter party, the risk in these transactions is the cost of replacing the agreements at current market rates. | |||||||||||
The Company entered into an interest rate swap agreement on July 1, 2010 to manage the interest rate exposure on its Floating Rate Junior Subordinated Deferrable Interest Debentures due 2036. By entering into this agreement, the Company converts a floating rate liability into a fixed rate liability through 2020. Under the terms of the agreement, the Company receives interest quarterly at the rate equivalent to three month LIBOR plus 2.00% repricing every three months on the same date as the Company's Floating Rate Junior Subordinated Deferrable Interest Debentures due 2036 and pays interest expense monthly at the fixed rate of 4.90%. The interest expense on the interest rate swap was $30,000 and $28,000 for the three months ended September 30, 2013 and 2012, respectively. The interest expense was $89,000 and $83,000 for the nine months ended September 30, 2013 and 2012, respectively. The swap is designated as a cash flow hedge and changes in the fair value are recorded as an adjustment through other comprehensive income. | |||||||||||
The Company entered into three swap agreements to manage the interest rate risk related to three commercial loans. The agreements allow the Company to convert fixed rate assets to floating rate assets through 2021 and 2022. The Company receives interest monthly at the rate equivalent to one month LIBOR plus a spread repricing on the same date as the loans and pays interest at fixed rates. The interest expense on the interest rate swaps was $27,000 and $22,000 for the three months ended September 30, 2013 and 2012, respectively, and is recorded in loan interest income. For the nine months ended September 30, 2013 and 2012, interest expense was $81,000 and $68,000, respectively. These swaps are designated as fair value hedges and changes in fair value are recorded in current earnings. | |||||||||||
The effects of derivative instruments on the Consolidated Financial Statements for September 30, 2013 and December 31, 2012 are as follows: | |||||||||||
(In thousands) | 30-Sep-13 | ||||||||||
Derivatives designated as hedging instruments | Notional/ | Estimated Net | Fair Value | Expiration | |||||||
Contract | Fair Value | Balance Sheet | Date | ||||||||
Amount | Location | ||||||||||
Interest rate swap-10 year cash flow | $ | 4,000 | $ | (295 | ) | Other Liabilities | 9/15/20 | ||||
Interest rate swap-10 year fair value | 2,172 | (25 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 2,048 | (25 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 1,032 | 54 | Other Assets | 9/26/22 | |||||||
30-Sep-13 | |||||||||||
Amount of Gain (Loss) | Location of Gain or | Amount of Gain (Loss) | |||||||||
Recognized in OCI on | (Loss) Recognized in | Recognized in Income | |||||||||
Derivatives in cash flow hedging relationships | Derivatives, net of tax | Income on Derivative | on Derivative | ||||||||
(Effective Portion) | (Ineffective Portion) | (Ineffective Portion) | |||||||||
Interest rate swap | $ | 166 | Not applicable | $ | - | ||||||
(In thousands) | 30-Sep-13 | ||||||||||
Derivatives in fair value | Income Statement | Gain or | |||||||||
hedging relationships | Classification | (Loss) on Swaps | |||||||||
Interest rate swaps | Interest income | $ | 38 | ||||||||
(In thousands) | 31-Dec-12 | ||||||||||
Derivatives designated as hedging instruments | Notional/ | Estimated Net | Fair Value | Expiration | |||||||
Contract | Fair Value | Balance Sheet | Date | ||||||||
Amount | Location | ||||||||||
Interest rate swap-10 year cash flow | $ | 4,000 | $ | (547 | ) | Other Liabilities | 9/15/20 | ||||
Interest rate swap-10 year fair value | 2,204 | (148 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 2,078 | (141 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 1,050 | (5 | ) | Other Liabilities | 9/26/22 | ||||||
31-Dec-12 | |||||||||||
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative | Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion) | |||||||||
(Ineffective Portion) | |||||||||||
Derivatives in cash flow hedging relationships | |||||||||||
Interest rate swaps | $ | (181 | ) | Not applicable | $ | - | |||||
(In thousands) | 31-Dec-12 | ||||||||||
Derivatives in fair value hedging relationships | Income Statement | Gain or | |||||||||
Classification | (Loss) on Swaps | ||||||||||
Interest rate swaps | Interest Income | $ | (51 | ) | |||||||
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
Note 6. | Earnings Per Share | ||||||||||||||||
The following table shows the weighted average number of shares used in computing earnings per share and the effect on weighted average number of shares of dilutive potential common stock. | |||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||
Shares | Per Share Amount | Shares | Per Share Amount | ||||||||||||||
Basic earnings per share | 3,713,342 | $ | 0.31 | 3,695,160 | $ | 0.33 | |||||||||||
Effect of dilutive securities, stock-based awards | 18,546 | 16,898 | |||||||||||||||
Diluted earnings per share | 3,731,888 | $ | 0.31 | 3,712,058 | $ | 0.33 | |||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||
Shares | Per Share Amount | Shares | Per Share Amount | ||||||||||||||
Basic earnings per share | 3,709,945 | $ | 0.79 | 3,690,294 | $ | 0.61 | |||||||||||
Effect of dilutive securities, stock-based awards | 15,572 | 14,256 | |||||||||||||||
Diluted earnings per share | 3,725,517 | $ | 0.79 | 3,704,550 | $ | 0.61 |
Stock_Based_Compensation
Stock Based Compensation | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stock Based Compensation [Abstract] | ' | ||||||||
Stock Based Compensation | ' | ||||||||
Note 7. | Stock Based Compensation | ||||||||
Stock Incentive Plan | |||||||||
On May 19, 2009, the shareholders of the Company approved the Company's Stock Incentive Plan (the "Plan"), which superseded and replaced the Omnibus Stock Ownership and Long Term Incentive Plan. | |||||||||
Under the Plan, stock options, stock appreciation rights, non-vested and/or restricted shares, and long-term performance unit awards may be granted to directors and certain employees for purchase of the Company's common stock. The effective date of the Plan is March 19, 2009, the date the Company's Board approved the Plan, and it has a termination date of December 31, 2019. The Company's Board may terminate, suspend or modify the Plan within certain restrictions. The Plan authorizes for issuance 350,000 shares of the Company's common stock. The Plan requires that options be granted at an exercise price equal to at least 100% of the fair market value of the common stock on the date of the grant. Such options are generally not exercisable until three years from the date of issuance and generally require continuous employment during the period prior to exercise. The options will expire in no more than ten years after the date of grant. The stock options, stock appreciation rights, restricted shares, and long-term performance unit awards for certain employees are generally subject to vesting requirements and are subject to forfeiture if vesting and other contractual provision requirements are not met. Effective January 1, 2000, the Omnibus Stock Ownership and Long-Term Incentive Plan for employees was amended and restated to include non-employee directors. The Company did not grant stock options during the three months or nine months ended September 30, 2013 and there were no options outstanding at September 30, 2013. | |||||||||
Restricted Shares | |||||||||
The restricted shares are accounted for using the fair market value of the Company's common stock on the date the restricted shares were awarded. The restricted shares issued to certain officers are subject to a vesting period, whereby, the restrictions on the shares lapse on the third year anniversary of the date the restricted shares were awarded. Compensation expense for these shares is accrued over the three year period. The restricted share issued to non-employee directors are not subject to a vesting period, and compensation expense is recognized at the date the shares are granted. | |||||||||
The Company has granted awards of non-vested shares to certain officers and vested shares to non-employee directors under the above-described incentive plans: 12,470 shares and 11,925 shares of unvested restricted stock to executive officers, and 5,712 shares and 5,632 shares of vested restricted stock to non-employee directors on February 21, 2013 and February 16, 2012, respectively. Compensation expense for these non-vested shares amounted to $36,000 and $35,000, net of forfeiture, for the three months ended September 30, 2013 and 2012, and $111,000 and $104,000 for the nine months ended September 30, 2013 and 2012, respectively. Compensation expense for the non-employee director shares is recognized at the date the shares are granted and during the three months ended September 30, 2013 and 2012, none was recognized. For the nine months ended September 30, 2013 and 2012, the compensation expense was $68,000. As of September 30, 2013, there was $195,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the plans. This type of deferred compensation cost is recognized over a period of 3 years. | |||||||||
A summary of the status of the Company's non-vested restricted shares granted under the above-described plans is presented below: | |||||||||
Nine Months Ended | |||||||||
30-Sep-13 | |||||||||
Shares | Weighted Average | ||||||||
Fair Value | |||||||||
Non-vested at January 1, 2013 | 31,423 | $ | 13.3 | ||||||
Granted | 18,182 | 11.91 | |||||||
Vested | (15,496 | ) | 13.09 | ||||||
Forfeited | - | ||||||||
Non-vested at September 30, 2013 | 34,109 | $ | 12.65 | ||||||
The Company granted performance-based stock rights relating to 12,470 and 11,925 shares to certain officers on February 21, 2013, and February 16, 2012, under the Plan. The performance-based stock rights are accounted for using the fair market value of the Company's common stock on the date awarded, and adjusted as the market value of the stock changes. The performance-based stock rights issued to executive officers are subject to a vesting period, whereby the restrictions on the shares lapse on the third year anniversary of the date the shares were awarded. Until vesting, the shares are not issued and not included in shares outstanding. The awards are subject to the Company reaching a predetermined three year performance average on the return on average equity ratio, also as compared to a predetermined peer group of banks. The compensation expense for performance-based stock rights totaled $22,000 and none for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, compensation expense was $64,000 and $(102,000), respectively. | |||||||||
A summary of the status of the Company's non-vested performance-based stock rights is presented below: | |||||||||
Nine Months Ended | |||||||||
30-Sep-13 | |||||||||
Performance | Weighted Average | ||||||||
Based Stock | Fair Value | ||||||||
Rights | |||||||||
Non-vested at January 1, 2013 | 31,423 | $ | 13.3 | ||||||
Granted | 12,470 | 11.91 | |||||||
Vested | - | ||||||||
Forfeited | (9,784 | ) | 13.78 | ||||||
Non-vested at September 30, 2013 | 34,109 | $ | 12.65 | ||||||
Employee_Benefit_Plans
Employee Benefit Plans | 9 Months Ended | ||
Sep. 30, 2013 | |||
Employee Benefit Plans [Abstract] | ' | ||
Employee Benefit Plans | ' | ||
Note 8. | Employee Benefit Plans | ||
The Company has a defined contribution retirement plan under Internal Revenue Code ("Code") Section 401(k) covering employees who have completed three months of service and who are at least 18 years of age. Under the plan, a participant may contribute an amount up to 100% of their covered compensation for the year, not to exceed the dollar limit set by law (Code Section 402(g)). The Company will make an annual matching contribution equal to 100% on the first 1% of compensation deferred and 100% on the next 5% of compensation deferred, for a maximum match of 3.5% of compensation. Beginning in 2010, the Company began making an additional safe harbor contribution equal to 6% of compensation to all eligible participants. The Company's 401(k) expenses for the nine months ended September 30, 2013 and 2012 were $502,000 and $546,000, respectively. For the three months ended September 30, 2013, and 2012, 401(k) expenses were $160,000 and $188,000, respectively. | |||
The Company also maintains a Director Deferred Compensation Plan ("Deferred Compensation Plan"). This plan provides that any non-employee director of the Company or the Bank may elect to defer receipt of all or any portion of his or her compensation as a director. A participating director may elect to have amounts deferred under the Deferred Compensation Plan held in a deferred cash account, which is credited on a quarterly basis with interest equal to the highest rate offered by the Bank at the end of the preceding quarter. Alternatively, a participant may elect to have a deferred stock account in which deferred amounts are treated as if invested in the Company's common stock at the fair market value on the date of deferral. The value of a stock account will increase and decrease based upon the fair market value of an equivalent number of shares of common stock. In addition, the deferred amounts deemed invested in common stock will be credited with dividends on an equivalent number of shares. Amounts considered invested in the Company's common stock are paid, at the election of the director, either in cash or in whole shares of the common stock and cash in lieu of fractional shares. Directors may elect to receive amounts contributed to their respective accounts in one or up to five installments. There are no directors currently participating in the Deferred Compensation Plan. | |||
The Company has a nonqualified deferred compensation plan for a former key employee's retirement, in which the contribution expense is solely funded by the Company. The retirement benefit to be provided is variable based upon the performance of underlying life insurance policy assets. Deferred compensation expense amounted to $25,000 for the nine months ended September 30, 2013 and 2012. For the three months ended September 30, 2013 and 2012, deferred compensation expense was $9,000 and $8,000, respectively. | |||
Concurrent with the establishment of the deferred compensation plan for the former employee, the Company purchased life insurance policies on this employee with the Company named as owner and beneficiary. These life insurance policies are intended to be utilized as a source of funding the Deferred Compensation Plan. Income on these life insurance polices amounted to $22,000 and $26,000 for the nine months ended September 30, 2013 and 2012, respectively. For the three months ended Sptember 30, 2013 and 2012, income amounted to $8,000 and $9,000. The Company has recorded other assets of $1.2 million representing cash surrender value of these policies at both September 30, 2013 and December 31, 2012. | |||
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Value Measurement [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||||||
Note 9. | Fair Value Measurement | ||||||||||||||||||||
The Company follows ASC 820 "Fair Value Measurement and Disclosures" to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. ASC 820 clarifies that fair value of certain assets and liabilities is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. | |||||||||||||||||||||
ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. The three levels of the fair value hierarchy under ASC 820 based on these two types of inputs are as follows: | |||||||||||||||||||||
Level 1 – | Valuation is based on quoted prices in active markets for identical assets and liabilities. | ||||||||||||||||||||
Level 2 – | Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market. | ||||||||||||||||||||
Level 3 – | Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market. | ||||||||||||||||||||
The following describes the valuation techniques used by the Company to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements: | |||||||||||||||||||||
Securities available for sale: Securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data (Level 2). If the inputs used to provide the evaluation for certain securities are unobservable and/or there is little, if any market activity then the security would fall to the lowest level of the hierarchy (Level 3). The Company's investment portfolio is primarily valued using fair value measurements that are considered to be Level 2. The Company has contracted with a third party portfolio accounting service vendor for valuation of its securities based on market data. IDC utilizes evaluated pricing models that vary by asset class and include available trade, bid, and other market information. Generally, the methodology includes broker quotes, proprietary modes, vast descriptive terms and conditions databases, as well as extensive quality control programs. The carrying value of restricted Federal Reserve Bank of Richmond, Community Bankers Bank and Federal Home Loan Bank of Atlanta ("FHLB") stock approximates fair value based on the redemption provisions of each entity and are therefore excluded from the following table. | |||||||||||||||||||||
Interest rate swaps: Interest rate swaps are recorded at fair value on a recurring basis. The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of the Company's interest-bearing assets and liabilities. The Company has contracted with a third party to provide valuations for interest rate swaps using standard valuation techniques and therefore classifies such valuation as Level 2. The Company has considered counterparty credit risk in the valuation of its interest rate swap assets and has considered its own credit risk in the valuation of its interest rate swap liabilities. | |||||||||||||||||||||
The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 by levels within the valuation hierarchy: | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Balance | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets at September 30, 2013: | |||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 42,230 | $ | - | $ | 42,230 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 7,078 | - | 7,078 | - | |||||||||||||||||
Corporate bonds | 440 | - | - | 440 | |||||||||||||||||
Mutual funds | 352 | 352 | - | - | |||||||||||||||||
Total available-for sale securities | $ | 50,100 | $ | 352 | $ | 49,308 | $ | 440 | |||||||||||||
Interest rate swaps | $ | 54 | $ | - | $ | 54 | $ | - | |||||||||||||
Total assets at fair value | $ | 50,154 | $ | 352 | $ | 49,362 | $ | 440 | |||||||||||||
Liabilities at September 30, 2013: | |||||||||||||||||||||
Interest rate swaps | $ | 345 | $ | - | $ | 345 | $ | - | |||||||||||||
Total liabilities at fair value | $ | 345 | $ | - | $ | 345 | $ | - | |||||||||||||
Assets at December 31, 2012: | |||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 40,014 | $ | - | $ | 40,014 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 7,390 | - | 7,390 | - | |||||||||||||||||
Corporate bonds | 325 | - | - | 325 | |||||||||||||||||
Mutual funds | 363 | 363 | - | - | |||||||||||||||||
Total available-for sale securities | $ | 48,092 | $ | 363 | $ | 47,404 | $ | 325 | |||||||||||||
Interest rate swaps | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Total assets at fair value | $ | 48,092 | $ | 363 | $ | 47,404 | $ | 325 | |||||||||||||
Liabilities at December 31, 2012: | |||||||||||||||||||||
Interest rate swaps | $ | 841 | $ | - | $ | 841 | $ | - | |||||||||||||
Total liabilities at fair value | $ | 841 | $ | - | $ | 841 | $ | - | |||||||||||||
Change in Level 3 Fair Value | |||||||||||||||||||||
The changes in Level 3 assets measured at estimated fair value on a recurring basis during the nine months ended September 30, 2013 and year ended December 31, 2012 were as follows: | |||||||||||||||||||||
Total Gains (Losses) Realized/Unrealized | |||||||||||||||||||||
(In thousands) | Balance | Included in | Included in Other | Transfers in | Balance | ||||||||||||||||
January 1, | Earnings | Comprehensive | and/or out of | 30-Sep-13 | |||||||||||||||||
2013 | Income | Level 3 and 2 | |||||||||||||||||||
Available-for-sale securities | $ | 325 | $ | - | $ | 115 | $ | - | $ | 440 | |||||||||||
Total Gains (Losses) Realized/Unrealized | |||||||||||||||||||||
(In thousands) | Balance | Included in | Included in Other | Transfers in | Balance | ||||||||||||||||
January 1, | Earnings | Comprehensive | and/or out of | 31-Dec-12 | |||||||||||||||||
2012 | Income | Level 3 and 2 | |||||||||||||||||||
Available-for-sale securities | $ | 335 | $ | - | $ | (10 | ) | $ | - | $ | 325 | ||||||||||
Certain assets are measured at fair value on a nonrecurring basis in accordance with U.S. GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. | |||||||||||||||||||||
The following describes the valuation techniques used by the Company to measure certain financial assets recorded at fair value on a nonrecurring basis in the financial statements: | |||||||||||||||||||||
Impaired Loans: Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair value of the collateral securing the loans. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the Company's collateral is real estate. The value of real estate collateral is determined utilizing an income or market valuation approach based on an appraisal, of one year or less, conducted by an independent, licensed appraiser outside of the Company using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the real estate property is more than one year old and not solely based on observable market comparables or management determines the fair value of the collateral is further impaired below the appraised value, then the fair value is considered Level 3. The value of business equipment is based upon an outside appraisal, of one year or less, if deemed significant, or the net book value on the applicable business' financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivable collateral are based on financial statement balances or aging reports (Level 3). Impaired loans allocated to the Allowance for Loan Losses are measured at fair value on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as provision for loan losses on the Consolidated Statements of Income. At September 30, 2013, the Company's Level 3 loans for which a reserve has been taken, consisted of three loans totaling $330,000 secured by business assets and inventory with a reserve of $219,000, and two loans totaling $461,000 secured by real estate with a reserve of $315,000. | |||||||||||||||||||||
Other Real Estate Owned ("OREO"): Foreclosed assets are adjusted to fair value upon transfer of the loans to OREO. Subsequently, OREO is carried at the lower of carrying value or fair market value less selling costs. Fair value is based upon independent market prices, appraised values of the collateral, or management's estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company considers the OREO as nonrecurring Level 2. When a current appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company considers records the OREO as nonrecurring Level 3. Total valuation of OREO property was $1.4 million at both September 30, 2013 and December 31, 2012. | |||||||||||||||||||||
The following table summarizes the Company's financial assets that were measured at fair value on a nonrecurring basis during the period. | |||||||||||||||||||||
Carrying Value at September 30, 2013 | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for | Significant Other | Significant Other | ||||||||||||||||||
30-Sep-13 | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans, net | $ | 4,690 | $ | - | $ | 4,433 | $ | 257 | |||||||||||||
Other real estate owned, net | 1,406 | - | 1,406 | - | |||||||||||||||||
Carrying Value at December 31, 2012 | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for | Significant Other | Significant Other | ||||||||||||||||||
31-Dec-12 | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans, net | $ | 868 | $ | - | $ | 491 | $ | 377 | |||||||||||||
Other real estate owned, net | 1,406 | - | 1,406 | - | |||||||||||||||||
The following table displays quantitative information about Level 3 Fair Value Measurements at September 30, 2013. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
(In thousands) | Fair | Valuation Technique(s) | Unobservable Input | Range | |||||||||||||||||
Value | |||||||||||||||||||||
Corporate securities available for sale | $ | 440 | Discounted cash flows | Prepayment rate, probability of default and loss severity | 5.1% to 52.4% discount rate | ||||||||||||||||
Impaired loans | 257 | Appraised values | Age of appraisal, current market conditions, and experience within local market | 0% to 100% discount | |||||||||||||||||
Total | $ | 697 | |||||||||||||||||||
The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company's various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instruments. ASC 820 excludes certain financial instruments and all non-financial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: | |||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||
The carrying amounts of cash and short-term instruments with a maturity of three months or less approximate fair value. Instruments with maturities of greater than three months are estimated using a discounted cash flow calculation that applies interest rates currently being offered on similar instruments. | |||||||||||||||||||||
Securities | |||||||||||||||||||||
For securities and marketable equity securities held for investment purposes, fair values are based on quoted market prices or dealer quotes. For other securities held as investments, fair value equals quoted market price, if available. If a quoted market price is not available, fair values are based on quoted market prices for similar securities. See Note 2 "Securities" of the Notes to Consolidated Financial Statements for further discussion on determining fair value for pooled trust preferred securities. | |||||||||||||||||||||
Loans Receivable | |||||||||||||||||||||
For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for certain mortgage loans (e.g., one-to-four family residential), credit card loans, and other consumer loans are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. Fair values for other loans (i.e., commercial real estate and investment property mortgage loans, commercial and industrial loans) are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |||||||||||||||||||||
Accrued Interest | |||||||||||||||||||||
The carrying amounts of accrued interest approximate fair value. | |||||||||||||||||||||
Life Insurance | |||||||||||||||||||||
The carrying amount of life insurance contracts is assumed to be a reasonable fair value. Life insurance contracts are carried on the balance sheet at their redemption value. This redemption value is based on existing market conditions and therefore represents the fair value of the contract. | |||||||||||||||||||||
Interest Rate Swaps | |||||||||||||||||||||
The fair values are based on quoted market prices or mathematical models using current and historical data. | |||||||||||||||||||||
Deposit Liabilities | |||||||||||||||||||||
The fair values disclosed for demand deposits (i.e., interest and non-interest bearing checking, statement savings and money market accounts) are, by definition, equal to the amount payable at the reporting date (that is, their carrying amounts). Fair values of fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered to a schedule of aggregated expected monthly maturities on time deposits. | |||||||||||||||||||||
Federal Funds Purchased | |||||||||||||||||||||
The carrying amounts of the Company's federal funds purchased approximate fair value. | |||||||||||||||||||||
Borrowed Funds | |||||||||||||||||||||
The fair values of the Company's FHLB advances and other borrowings are estimated using discounted cash flow analyses based on the Company's current incremental borrowing rates for similar types of borrowing arrangements. | |||||||||||||||||||||
Off-Balance-Sheet Financial Instruments | |||||||||||||||||||||
The fair value of commitments to extend credit is estimated using the fees currently charged to enter similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. | |||||||||||||||||||||
The fair values of standby letters of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. | |||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the fair values of loan commitments and standby letters of credit were deemed immaterial. | |||||||||||||||||||||
The estimated fair values of the Company's financial instruments are as follows: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||
(In thousands) | Carrying | Quoted Prices | Significant | Significant | Fair Value | ||||||||||||||||
Value as of | in Active | Other | Other | as of | |||||||||||||||||
30-Sep-13 | Markets for | Observable | Unobservable | 30-Sep-13 | |||||||||||||||||
Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 53,660 | $ | 53,672 | $ | - | $ | - | $ | 53,672 | |||||||||||
Securities available for sale | 50,100 | 352 | 49,308 | 440 | 50,100 | ||||||||||||||||
Restricted investments | 1,462 | - | 1,462 | - | 1,462 | ||||||||||||||||
Net loans | 448,524 | - | 446,990 | 257 | 447,247 | ||||||||||||||||
Accrued interest receivable | 1,386 | - | 1,386 | - | 1,386 | ||||||||||||||||
Interest rate swaps | 54 | - | 54 | - | 54 | ||||||||||||||||
BOLI | 12,335 | - | 12,335 | - | 12,335 | ||||||||||||||||
Total financial assets | $ | 567,521 | $ | 54,024 | $ | 511,535 | $ | 697 | $ | 566,256 | |||||||||||
Liabilities | |||||||||||||||||||||
Deposits | $ | 522,803 | $ | - | $ | 524,356 | $ | - | $ | 524,356 | |||||||||||
Borrowings | 13,155 | - | 13,040 | - | 13,040 | ||||||||||||||||
Company obligated mandatorily redeemable capital securities | 4,124 | - | 4,114 | - | 4,114 | ||||||||||||||||
Accrued interest payable | 223 | - | 223 | - | 223 | ||||||||||||||||
Interest rate swaps | 345 | - | 345 | - | 345 | ||||||||||||||||
Total financial liabilities | $ | 540,650 | $ | - | $ | 542,078 | $ | - | $ | 542,078 | |||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||
(In thousands) | Carrying | Quoted Prices | Significant | Significant | Fair Value | ||||||||||||||||
Value as of | in Active | Other | Other | as of | |||||||||||||||||
31-Dec-12 | Markets for | Observable | Unobservable | 31-Dec-12 | |||||||||||||||||
Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 64,435 | $ | 64,465 | $ | - | $ | - | $ | 64,465 | |||||||||||
Securities available for sale | 48,092 | 363 | 47,404 | 325 | 48,092 | ||||||||||||||||
Restricted investments | 2,337 | - | 2,337 | - | 2,337 | ||||||||||||||||
Net Loans | 445,108 | - | 443,045 | 377 | 443,422 | ||||||||||||||||
Accrued interest receivable | 1,283 | - | 1,283 | - | 1,283 | ||||||||||||||||
Interest rate swaps | - | - | - | - | - | ||||||||||||||||
BOLI | 12,038 | - | 12,038 | - | 12,038 | ||||||||||||||||
Total financial assets | $ | 573,293 | $ | 64,828 | $ | 506,107 | $ | 702 | $ | 571,637 | |||||||||||
Liabilities | |||||||||||||||||||||
Deposits | $ | 515,134 | $ | - | $ | 517,811 | $ | - | $ | 517,811 | |||||||||||
Borrowings | 28,200 | - | 28,877 | - | 28,877 | ||||||||||||||||
Company obligated mandatorily redeemable capital securities | 4,124 | - | 5,258 | - | 5,258 | ||||||||||||||||
Accrued interest payable | 312 | - | 312 | - | 312 | ||||||||||||||||
Interest rate swaps | 841 | - | 841 | - | 841 | ||||||||||||||||
Total financial liabilities | $ | 548,611 | $ | - | $ | 553,099 | $ | - | $ | 553,099 | |||||||||||
The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company's financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Company's overall interest rate risk. | |||||||||||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Note 10. | Accumulated Other Comprehensive Income | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component (1) | |||||||||||||||||
(In thousands) | Gains and Losses on Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Supplemental Executive Retirement Plans | Total | |||||||||||||
Balance December 31, 2012 | $ | (361 | ) | $ | (1,398 | ) | $ | 47 | $ | (1,712 | ) | ||||||
Other comprehensive income (loss) before reclassifications | 166 | (732 | ) | - | (566 | ) | |||||||||||
Amounts reclassified from accumulated other comprehensive income | - | - | - | - | |||||||||||||
Net current-period other comprehensive income | 166 | (732 | ) | - | (566 | ) | |||||||||||
Balance September 30, 2013 | $ | (195 | ) | $ | (2,130 | ) | $ | 47 | $ | (2,278 | ) | ||||||
Balance December 31, 2011 | $ | (180 | ) | $ | (1,376 | ) | $ | 239 | $ | (1,317 | ) | ||||||
Other comprehensive income (loss) before reclassifications | (419 | ) | 244 | - | (175 | ) | |||||||||||
Amounts reclassified from accumulated other comprehensive income | - | (109 | ) | - | (109 | ) | |||||||||||
Net current-period other comprehensive income | (419 | ) | 135 | - | (284 | ) | |||||||||||
Balance September 30, 2012 | $ | (599 | ) | $ | (1,241 | ) | $ | 239 | $ | (1,601 | ) | ||||||
(1) All amounts are net of tax. Amounts in parentheses indicate debits. | |||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income | |||||||||||||||||
For the Three Months Ended September 30, | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Details about accumulated other comprehensive income components | Amount reclassified from accumulated other comprehensive income | Amount reclassified from accumulated other comprehensive income | Affected line item in the statement where net income is presented. | ||||||||||||||
Unrealized gains and losses on available-for sale securities | $ | - | $ | 2 | Gain on sale of securities | ||||||||||||
- | 2 | Total income before income tax | |||||||||||||||
- | 1 | Income tax expense | |||||||||||||||
$ | - | $ | 1 | Net of tax | |||||||||||||
For the Nine Months Ended September 30, | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Details about accumulated other comprehensive income components | Amount reclassified from accumulated other comprehensive income | Amount reclassified from accumulated other comprehensive income | Affected line item in the statement where net income is presented. | ||||||||||||||
Unrealized gains and losses on available-for sale securities | $ | - | $ | 165 | Gain on sale of securities | ||||||||||||
- | 165 | Total income before income tax | |||||||||||||||
- | 56 | Income tax expense | |||||||||||||||
$ | - | $ | 109 | Net of tax | |||||||||||||
General_Policies
General (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
General [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2011-11, "Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities." This ASU requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In January 2013, the FASB issued ASU 2013-01, "Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities." The amendments in this ASU clarify the scope for 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 or subject to netting arrangements. An entity is required to apply the amendments for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The adoption of the new guidance did not have a material impact on the Company's consolidated financial statements. | |
In February 2013, the FASB issued ASU 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The amendments in this ASU require an entity to present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income. In addition, the amendments require a cross-reference to other disclosures currently required for other reclassification items to be reclassified directly to net income in their entirety in the same reporting period. Companies should apply these amendments for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The Company has included the required disclosures from ASU 2013-02 in the consolidated financial statements. | |
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Loans and Allowance for Loan Losses [Abstract] | ' |
Impairment of Loans | ' |
Authoritative accounting guidance requires that the impairment of loans that have been separately identified for evaluation is to be measured based on the present value of expected future cash flows or, alternatively, the observable market price of the loans or the fair value of the collateral. However, for those loans that are collateral dependent (that is, if repayment of those loans is expected to be provided solely by the underlying collateral) and for which management has determined foreclosure is probable, the measure of impairment is to be based on the net realizable value of the collateral. Authoritative accounting guidance also requires certain disclosures about investments in impaired loans and the allowance for loan losses and interest income recognized on loans. | |
A loan is considered impaired when it is probable that the Bank will be unable to collect all principal and interest amounts according to the contractual terms of the loan agreement. Factors involved in determining impairment include, but are not limited to, expected future cash flows, financial condition of the borrower, and the current economic conditions. A performing loan may be considered impaired if the factors above indicate a need for impairment. A loan on non-accrual status may not be impaired if it is in the process of collection or if the shortfall in payment is insignificant. A delay of less than 30 days or a shortfall of less than 5% of the required principal and interest payments generally is considered "insignificant" and would not indicate an impairment situation, if in management's judgment the loan will be paid in full. Loans that meet the regulatory definitions of doubtful or loss generally qualify as impaired loans under authoritative accounting guidance. As is the case for all loans, charge-offs for impaired loans occur when the loan or portion of the loan is determined to be uncollectible. |
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Amortized cost and fair value of securities available for sale, with unrealized gains and losses | ' | ||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale, with unrealized gains and losses follows: | |||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||||
(In thousands) | Cost | Gains | (Losses) | Fair Value | |||||||||||||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 42,331 | $ | 373 | $ | (474 | ) | $ | 42,230 | ||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,782 | 297 | (1 | ) | 7,078 | ||||||||||||||||||||||||||||||
Corporate bonds | 3,861 | - | (3,421 | ) | 440 | ||||||||||||||||||||||||||||||
Mutual funds | 351 | 1 | - | 352 | |||||||||||||||||||||||||||||||
$ | 53,325 | $ | 671 | $ | (3,896 | ) | $ | 50,100 | |||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Amortized | Gross Unrealized | Gross Unrealized | |||||||||||||||||||||||||||||||||
Cost | Gains | (Losses) | Fair Value | ||||||||||||||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 39,240 | $ | 794 | $ | (20 | ) | $ | 40,014 | ||||||||||||||||||||||||||
Obligations of states and political subdivisions | 6,786 | 604 | - | 7,390 | |||||||||||||||||||||||||||||||
Corporate bonds | 3,836 | - | (3,511 | ) | 325 | ||||||||||||||||||||||||||||||
Mutual funds | 346 | 17 | - | 363 | |||||||||||||||||||||||||||||||
$ | 50,208 | $ | 1,415 | $ | (3,531 | ) | $ | 48,092 | |||||||||||||||||||||||||||
Amortized cost and fair value of securities available for sale, by contractual maturity | ' | ||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties. | |||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
(In thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 1,999 | $ | 2,023 | |||||||||||||||||||||||||||||||
Due after one year through five years | 10,044 | 9,961 | |||||||||||||||||||||||||||||||||
Due after five years through ten years | 13,816 | 14,111 | |||||||||||||||||||||||||||||||||
Due after ten years | 27,115 | 23,653 | |||||||||||||||||||||||||||||||||
Equity securities | 351 | 352 | |||||||||||||||||||||||||||||||||
$ | 53,325 | $ | 50,100 | ||||||||||||||||||||||||||||||||
Securities with continuous unrealized loss position | ' | ||||||||||||||||||||||||||||||||||
The following table shows the Company securities with gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||||||||||||
(In thousands) | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||
30-Sep-13 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||
(Losses) | (Losses) | (Losses) | |||||||||||||||||||||||||||||||||
Obligations of U.S. Government, corporations and agencies | $ | 22,412 | $ | (474 | ) | $ | - | $ | - | $ | 22,412 | $ | (474 | ) | |||||||||||||||||||||
Obligations of states and political subdivisions | 513 | (1 | ) | - | - | 513 | (1 | ) | |||||||||||||||||||||||||||
Corporate bonds | - | - | 440 | (3,421 | ) | 440 | (3,421 | ) | |||||||||||||||||||||||||||
Total temporary impaired securities | $ | 22,925 | $ | (475 | ) | $ | 440 | $ | (3,421 | ) | $ | 23,365 | $ | (3,896 | ) | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
31-Dec-12 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||||
(Losses) | (Losses) | (Losses) | |||||||||||||||||||||||||||||||||
Obligations of U.S. Government, corporations and agencies | $ | 2,165 | $ | (20 | ) | $ | - | $ | - | $ | 2,165 | $ | (20 | ) | |||||||||||||||||||||
Obligations of states and political subdivisions | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Corporate bonds | - | - | 325 | (3,511 | ) | 325 | (3,511 | ) | |||||||||||||||||||||||||||
Total temporary impaired securities | $ | 2,165 | $ | (20 | ) | $ | 325 | $ | (3,511 | ) | $ | 2,490 | $ | (3,531 | ) | ||||||||||||||||||||
Pooled trust preferred securities | ' | ||||||||||||||||||||||||||||||||||
Additional information regarding each of the pooled trust preferred securities as of September 30, 2013 follows: | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Cost, net of | Fair Value | Percent of | Percent of | Percent of | Estimated | Current | Cumulative | Cumulative Other | |||||||||||||||||||||||||||
OTTI loss | Underlying | Underlying | Underlying | incremental | Moody's | Amount of | Comprehensive | ||||||||||||||||||||||||||||
Collateral | Collateral in | Collateral in | defaults required | Rating | OTTI Loss | Loss, net of tax | |||||||||||||||||||||||||||||
Performing | Deferral | Default | to break yield (1) | benefit | |||||||||||||||||||||||||||||||
$ | 357 | $ | 33 | 65.1 | % | 5.9 | % | 29 | % | broken | Caa3 | $ | 584 | $ | 213 | ||||||||||||||||||||
1,610 | 312 | 67.9 | % | 11.9 | % | 20.2 | % | 3.9 | % | Caa3 | 348 | 856 | |||||||||||||||||||||||
1,323 | 60 | 63 | % | 29 | % | 8 | % | broken | Ca | 677 | 834 | ||||||||||||||||||||||||
571 | 35 | 67 | % | 22 | % | 11 | % | broken | C | 429 | 354 | ||||||||||||||||||||||||
$ | 3,861 | $ | 440 | $ | 2,038 | $ | 2,257 | ||||||||||||||||||||||||||||
-1 | A break in yield for a given tranche investment means that defaults and/or deferrals have reached such a level that the specific tranche would not receive all of the contractual principal and interest cash flow by its maturity, resulting in not a temporary shortfall, but an actual loss. This column represents the percentage of additional defaults among the currently performing and deferred collateral that would result in OTTI loss. | ||||||||||||||||||||||||||||||||||
Amount related to credit losses recognized in earnings | ' | ||||||||||||||||||||||||||||||||||
The following roll forward reflects the amount related to credit losses recognized in earnings (in accordance with FASB Accounting Standards Codification ("ASC") 320-10-35-34D): | |||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Beginning balance as of December 31, 2012 | $ | 2,115 | |||||||||||||||||||||||||||||||||
Add: Amount related to the credit loss for which an other-than- temporary impairment was not previously recognized | - | ||||||||||||||||||||||||||||||||||
Add: Increases to the amount related to the credit loss for which an other-than temporary impairment was previously recognized | - | ||||||||||||||||||||||||||||||||||
Less: Realized losses for securities sold | - | ||||||||||||||||||||||||||||||||||
Less: Securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. | - | ||||||||||||||||||||||||||||||||||
Less: Increases in cash flows expected to be collected that are recognized over the remaining life of the security (See FASB ASC 320-10-35-35) | (77 | ) | |||||||||||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 2,038 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans Receivable | |||||||||||||||||||||||||||||||||||||
As of and for the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Unallocated | Total | ||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance at 12/31/2012 | $ | 932 | $ | 1,685 | $ | 402 | $ | 40 | $ | - | $ | 1,691 | $ | 1,336 | $ | 172 | $ | 6,258 | |||||||||||||||||||
Charge-offs | (257 | ) | (550 | ) | - | (104 | ) | - | (82 | ) | (174 | ) | - | (1,167 | ) | ||||||||||||||||||||||
Recoveries | 59 | - | - | 23 | - | 2 | 6 | - | 90 | ||||||||||||||||||||||||||||
Provision | 338 | 1,161 | 40 | 64 | 72 | (209 | ) | (275 | ) | 109 | 1,300 | ||||||||||||||||||||||||||
Ending balance at 9/30/2013 | $ | 1,072 | $ | 2,296 | $ | 442 | $ | 23 | $ | 72 | $ | 1,402 | $ | 893 | $ | 281 | $ | 6,481 | |||||||||||||||||||
Ending balances individually evaluated for impairment | $ | 219 | $ | 515 | $ | 341 | $ | - | $ | - | $ | 202 | $ | - | $ | - | $ | 1,277 | |||||||||||||||||||
Ending balances collectively evaluated for impairment | $ | 853 | $ | 1,781 | $ | 101 | $ | 23 | $ | 72 | $ | 1,200 | $ | 893 | $ | 281 | $ | 5,204 | |||||||||||||||||||
Loans Receivable | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 481 | $ | 6,868 | $ | 4,130 | $ | - | $ | - | $ | 2,145 | $ | 98 | $ | 13,722 | |||||||||||||||||||||
Collectively evaluated for impairment | 24,248 | 176,434 | 31,702 | 3,756 | 24,578 | 137,411 | 43,154 | 441,283 | |||||||||||||||||||||||||||||
Ending balance at 9/30/2013 | $ | 24,729 | $ | 183,302 | $ | 35,832 | $ | 3,756 | $ | 24,578 | $ | 139,556 | $ | 43,252 | $ | 455,005 | |||||||||||||||||||||
As of and for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Unallocated | Total | ||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
Beginning balance at 12/31/2011 | $ | 795 | $ | 2,899 | $ | 195 | $ | 31 | $ | - | $ | 1,584 | $ | 698 | $ | 526 | $ | 6,728 | |||||||||||||||||||
Charge-offs | (526 | ) | (5,004 | ) | - | (117 | ) | - | (126 | ) | (536 | ) | - | (6,309 | ) | ||||||||||||||||||||||
Recoveries | 7 | 9 | - | 14 | - | 2 | - | - | 32 | ||||||||||||||||||||||||||||
Provision | 656 | 3,781 | 207 | 112 | - | 231 | 1,174 | (354 | ) | 5,807 | |||||||||||||||||||||||||||
Ending balance at 12/31/2012 | $ | 932 | $ | 1,685 | $ | 402 | $ | 40 | $ | - | $ | 1,691 | $ | 1,336 | $ | 172 | $ | 6,258 | |||||||||||||||||||
Ending balances individually evaluated for impairment | $ | 428 | $ | - | $ | 293 | $ | - | $ | - | $ | 176 | $ | 112 | $ | - | $ | 1,009 | |||||||||||||||||||
Ending balances collectively evaluated for impairment | $ | 504 | $ | 1,685 | $ | 109 | $ | 40 | $ | - | $ | 1,515 | $ | 1,224 | $ | 172 | $ | 5,249 | |||||||||||||||||||
Loans Receivable | |||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 674 | $ | 9,612 | $ | 4,175 | $ | 4 | $ | - | $ | 2,372 | $ | 228 | $ | 17,065 | |||||||||||||||||||||
Collectively evaluated for impairment | 26,466 | 183,393 | 35,870 | 4,563 | 4,994 | 134,218 | 44,797 | 434,301 | |||||||||||||||||||||||||||||
Ending balance at 12/31/2012 | $ | 27,140 | $ | 193,005 | $ | 40,045 | $ | 4,567 | $ | 4,994 | $ | 136,590 | $ | 45,025 | $ | 451,366 | |||||||||||||||||||||
Credit Quality Indicators | ' | ||||||||||||||||||||||||||||||||||||
The Company's allowance for loan losses has three basic components: the specific allowance, the general allowance, and the unallocated components. The specific allowance is used to individually allocate an allowance for larger balance, non-homogeneous loans identified as impaired. The general allowance is used for estimating the loss on pools of smaller-balance, homogeneous loans; including 1-4 family mortgage loans, installment loans and other consumer loans. Also, the general allowance is used for the remaining pool of larger balance, non-homogeneous loans which were not identified as impaired. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodolgies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Total | |||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 20,965 | $ | 149,331 | $ | 31,702 | $ | 3,749 | $ | 24,578 | $ | 125,485 | $ | 39,399 | $ | 395,209 | |||||||||||||||||||||
Special mention | 1,332 | 21,293 | - | - | - | 6,764 | 2,751 | 32,140 | |||||||||||||||||||||||||||||
Substandard | 2,257 | 12,678 | 3,994 | 7 | - | 6,616 | 1,102 | 26,654 | |||||||||||||||||||||||||||||
Doubtful | 175 | - | 136 | - | - | 691 | - | 1,002 | |||||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Total | $ | 24,729 | $ | 183,302 | $ | 35,832 | $ | 3,756 | $ | 24,578 | $ | 139,556 | $ | 43,252 | $ | 455,005 | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Commercial | Commercial | Construction | Consumer | Student | Residential | Home Equity | Total | |||||||||||||||||||||||||||||
and Industrial | Real Estate | and Land | Real Estate | Line of Credit | |||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||
Pass | $ | 21,704 | $ | 152,483 | $ | 35,871 | $ | 4,558 | $ | 4,994 | $ | 120,451 | $ | 40,189 | $ | 380,250 | |||||||||||||||||||||
Special mention | 2,635 | 21,455 | - | - | - | 9,016 | 2,878 | 35,984 | |||||||||||||||||||||||||||||
Substandard | 2,391 | 19,067 | 4,038 | 9 | - | 6,456 | 1,958 | 33,919 | |||||||||||||||||||||||||||||
Doubtful | 410 | - | 136 | - | - | 667 | - | 1,213 | |||||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||
Total | $ | 27,140 | $ | 193,005 | $ | 40,045 | $ | 4,567 | $ | 4,994 | $ | 136,590 | $ | 45,025 | $ | 451,366 | |||||||||||||||||||||
Age Analysis of Past Due Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||
Age Analysis of Past Due Loans Receivable | |||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days | 60-89 Days | 90 Days or More Past Due | Total Past Due | Current | Total Financing | Carrying | Nonaccruals | |||||||||||||||||||||||||||||
Past Due | Past Due | Receivables | Amount > 90 | ||||||||||||||||||||||||||||||||||
Days and | |||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | - | $ | - | $ | 162 | $ | 162 | $ | 24,567 | $ | 24,729 | $ | - | $ | 386 | |||||||||||||||||||||
Commercial real estate | - | - | 3,133 | 3,133 | 180,169 | 183,302 | - | 3,133 | |||||||||||||||||||||||||||||
Construction and land | 61 | - | 136 | 197 | 35,635 | 35,832 | - | 136 | |||||||||||||||||||||||||||||
Consumer | 37 | - | 1 | 38 | 3,718 | 3,756 | 1 | - | |||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | 9,399 | 306 | 3,629 | 13,334 | 11,244 | 24,578 | 3,629 | - | |||||||||||||||||||||||||||||
Residential real estate | 593 | 486 | 879 | 1,958 | 137,598 | 139,556 | - | 1,405 | |||||||||||||||||||||||||||||
Home equity line of credit | 27 | - | - | 27 | 43,225 | 43,252 | - | - | |||||||||||||||||||||||||||||
Total | $ | 10,117 | $ | 792 | $ | 7,940 | $ | 18,849 | $ | 436,156 | $ | 455,005 | $ | 3,630 | $ | 5,060 | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
(In thousands) | 30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Financing | Carrying | Nonaccruals | |||||||||||||||||||||||||||||
Receivables | Amount > 90 | ||||||||||||||||||||||||||||||||||||
Days and | |||||||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 92 | $ | 52 | $ | 41 | $ | 185 | $ | 26,955 | $ | 27,140 | $ | - | $ | 643 | |||||||||||||||||||||
Commercial real estate | - | - | 7,712 | 7,712 | 185,293 | 193,005 | - | 7,712 | |||||||||||||||||||||||||||||
Construction and land | 508 | 250 | 136 | 894 | 39,151 | 40,045 | - | 136 | |||||||||||||||||||||||||||||
Consumer | 39 | 10 | 5 | 54 | 4,513 | 4,567 | 1 | 4 | |||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | 4,994 | 4,994 | - | - | |||||||||||||||||||||||||||||
Residential real estate | 2,397 | 397 | 1,474 | 4,268 | 132,322 | 136,590 | - | 1,927 | |||||||||||||||||||||||||||||
Home equity line of credit | 1,424 | - | 311 | 1,735 | 43,290 | 45,025 | 131 | 228 | |||||||||||||||||||||||||||||
Total | $ | 4,460 | $ | 709 | $ | 9,679 | $ | 14,848 | $ | 436,518 | $ | 451,366 | $ | 132 | $ | 10,650 | |||||||||||||||||||||
The Company began purchasing rehabilitated student loans under the Federal Rehabilitated Student Loan Program during the quarter ended December 31, 2012. The repayment of both principal and accrued interest are 98% guaranteed by the U.S. Department of Education. At September 30, 2013, $3.6 million of the student loans were 90 days or more past due and still accruing. | |||||||||||||||||||||||||||||||||||||
Impaired Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||
Impaired Loans Receivable | |||||||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 151 | $ | 151 | $ | - | $ | 177 | $ | 5 | |||||||||||||||||||||||||||
Commercial real estate | 4,292 | 4,292 | - | 4,302 | 72 | ||||||||||||||||||||||||||||||||
Construction and land | 1,997 | 1,997 | - | 2,018 | 76 | ||||||||||||||||||||||||||||||||
Student (U.S. Govenment guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 1,217 | 1,217 | - | 1,251 | 12 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 98 | 98 | - | 249 | 10 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 330 | $ | 330 | $ | 219 | $ | 344 | $ | 2 | |||||||||||||||||||||||||||
Commercial real estate | 2,576 | 2,576 | 515 | 2,857 | 68 | ||||||||||||||||||||||||||||||||
Construction and land | 2,133 | 2,133 | 341 | 2,134 | 66 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 928 | 928 | 202 | 947 | 13 | ||||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 481 | $ | 481 | $ | 219 | $ | 521 | $ | 7 | |||||||||||||||||||||||||||
Commercial real estate | 6,868 | 6,868 | 515 | 7,159 | 140 | ||||||||||||||||||||||||||||||||
Construction and land | 4,130 | 4,130 | 341 | 4,152 | 142 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 2,145 | 2,145 | 202 | 2,198 | 24 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 98 | 98 | - | 249 | 10 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total | $ | 13,722 | $ | 13,722 | $ | 1,277 | $ | 14,279 | $ | 323 | |||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||
(In thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||
With no specific allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 109 | $ | 109 | $ | - | $ | 136 | $ | 2 | |||||||||||||||||||||||||||
Commercial real estate | 9,612 | 12,523 | - | 11,613 | 650 | ||||||||||||||||||||||||||||||||
Construction and land | 3,711 | 3,711 | - | 4,134 | 200 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 1,705 | 1,705 | - | 1,734 | 39 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 47 | 47 | - | 47 | 1 | ||||||||||||||||||||||||||||||||
Consumer | 4 | 4 | - | 5 | - | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 565 | $ | 565 | $ | 428 | $ | 575 | $ | 5 | |||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Construction and land | 464 | 464 | 293 | 594 | 21 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 667 | 667 | 176 | 692 | - | ||||||||||||||||||||||||||||||||
Home equity line of credit | 181 | 181 | 112 | 180 | 3 | ||||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 674 | $ | 674 | $ | 428 | $ | 711 | $ | 7 | |||||||||||||||||||||||||||
Commercial real estate | 9,612 | 12,523 | - | 11,613 | 650 | ||||||||||||||||||||||||||||||||
Construction and land | 4,175 | 4,175 | 293 | 4,728 | 221 | ||||||||||||||||||||||||||||||||
Student (U.S. Government guaranteed) | - | - | - | - | - | ||||||||||||||||||||||||||||||||
Residential real estate | 2,372 | 2,372 | 176 | 2,426 | 39 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 228 | 228 | 112 | 227 | 4 | ||||||||||||||||||||||||||||||||
Consumer | 4 | 4 | - | 5 | - | ||||||||||||||||||||||||||||||||
Total | $ | 17,065 | $ | 19,976 | $ | 1,009 | $ | 19,710 | $ | 921 | |||||||||||||||||||||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 292 | $ | 94 | 1 | $ | 198 | $ | 198 | |||||||||||||||||||||||||||
Commercial real estate | - | - | - | 1 | 1,783 | 1,783 | |||||||||||||||||||||||||||||||
Construction and Land | 1 | 1,673 | 1,673 | 1 | 1,673 | 1,673 | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted | - | ||||||||||||||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Construction and Land | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | $ | 292 | $ | 94 | 2 | $ | 435 | $ | 435 | |||||||||||||||||||||||||||
Commercial real estate | 2 | 2,010 | 2,010 | 2 | 3,683 | 3,683 | |||||||||||||||||||||||||||||||
Construction and Land | 2 | 2,481 | 2,481 | 4 | 3,473 | 3,473 | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | 1 | 300 | 300 | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | 237 | 237 | - | - | - | |||||||||||||||||||||||||||||||
Commercial real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Construction and Land | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Student | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Residential real estate | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Home equity line of credit | - | - | - | - | - | - | |||||||||||||||||||||||||||||||
Non-performing Assets, Restructured Loans Still Accruing, and Loans Contractually Past Due | ' | ||||||||||||||||||||||||||||||||||||
Non-performing Assets, Restructured Loans Still Accruing, and Loans Contractually Past Due | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||
Non-accrual loans | $ | 5,060 | $ | 10,650 | $ | 12,428 | |||||||||||||||||||||||||||||||
Other real estate owned | 1,406 | 1,406 | 1,776 | ||||||||||||||||||||||||||||||||||
Non-performing corporate bond investments, at fair value | 128 | 325 | 303 | ||||||||||||||||||||||||||||||||||
Total non-performing assets | 6,594 | 12,381 | 14,507 | ||||||||||||||||||||||||||||||||||
Restructured loans still accruing | 8,564 | 5,556 | 5,562 | ||||||||||||||||||||||||||||||||||
Student loans (U.S. Government guaranteed) past due 90 days or more and still accruing | 3,629 | - | - | ||||||||||||||||||||||||||||||||||
Loans past due 90 or more days and still accruing | 1 | 132 | 248 | ||||||||||||||||||||||||||||||||||
Total non-performing and other risk assets | $ | 18,788 | $ | 18,069 | $ | 20,317 | |||||||||||||||||||||||||||||||
Allowance for loan losses to total loans | 1.42 | % | 1.39 | % | 1.9 | % | |||||||||||||||||||||||||||||||
Non-accrual loans to total loans | 1.11 | % | 2.36 | % | 2.74 | % | |||||||||||||||||||||||||||||||
Allowance for loan losses to non-accrual loans | 128.08 | % | 58.76 | % | 69.25 | % | |||||||||||||||||||||||||||||||
Total non-accrual loans and restructured loans still accruing to total loans | 2.99 | % | 3.59 | % | 3.96 | % | |||||||||||||||||||||||||||||||
Allowance for loan losses to non-accrual loans and restructured loans still accruing | 47.57 | % | 38.62 | % | 47.84 | % | |||||||||||||||||||||||||||||||
Total non-performing assets to total assets | 1.11 | % | 2.06 | % | 2.52 | % | |||||||||||||||||||||||||||||||
Restructured loans on non-accrual status are included with non-accrual loans and not with restructured loans in the above table. | |||||||||||||||||||||||||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Derivative Instruments and Hedging Activities [Abstract] | ' | ||||||||||
Effects of Derivative Instruments on Consolidated Financial Statements | ' | ||||||||||
(In thousands) | 30-Sep-13 | ||||||||||
Derivatives designated as hedging instruments | Notional/ | Estimated Net | Fair Value | Expiration | |||||||
Contract | Fair Value | Balance Sheet | Date | ||||||||
Amount | Location | ||||||||||
Interest rate swap-10 year cash flow | $ | 4,000 | $ | (295 | ) | Other Liabilities | 9/15/20 | ||||
Interest rate swap-10 year fair value | 2,172 | (25 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 2,048 | (25 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 1,032 | 54 | Other Assets | 9/26/22 | |||||||
30-Sep-13 | |||||||||||
Amount of Gain (Loss) | Location of Gain or | Amount of Gain (Loss) | |||||||||
Recognized in OCI on | (Loss) Recognized in | Recognized in Income | |||||||||
Derivatives in cash flow hedging relationships | Derivatives, net of tax | Income on Derivative | on Derivative | ||||||||
(Effective Portion) | (Ineffective Portion) | (Ineffective Portion) | |||||||||
Interest rate swap | $ | 166 | Not applicable | $ | - | ||||||
(In thousands) | 30-Sep-13 | ||||||||||
Derivatives in fair value | Income Statement | Gain or | |||||||||
hedging relationships | Classification | (Loss) on Swaps | |||||||||
Interest rate swaps | Interest income | $ | 38 | ||||||||
(In thousands) | 31-Dec-12 | ||||||||||
Derivatives designated as hedging instruments | Notional/ | Estimated Net | Fair Value | Expiration | |||||||
Contract | Fair Value | Balance Sheet | Date | ||||||||
Amount | Location | ||||||||||
Interest rate swap-10 year cash flow | $ | 4,000 | $ | (547 | ) | Other Liabilities | 9/15/20 | ||||
Interest rate swap-10 year fair value | 2,204 | (148 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 2,078 | (141 | ) | Other Liabilities | 8/15/21 | ||||||
Interest rate swap-10 year fair value | 1,050 | (5 | ) | Other Liabilities | 9/26/22 | ||||||
31-Dec-12 | |||||||||||
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of tax (Effective Portion) | Location of Gain or (Loss) Recognized in Income on Derivative | Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion) | |||||||||
(Ineffective Portion) | |||||||||||
Derivatives in cash flow hedging relationships | |||||||||||
Interest rate swaps | $ | (181 | ) | Not applicable | $ | - | |||||
(In thousands) | 31-Dec-12 | ||||||||||
Derivatives in fair value hedging relationships | Income Statement | Gain or | |||||||||
Classification | (Loss) on Swaps | ||||||||||
Interest rate swaps | Interest Income | $ | (51 | ) | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Weighted Average Number of Shares Used in Computing Earnings Per Share | ' | ||||||||||||||||
The following table shows the weighted average number of shares used in computing earnings per share and the effect on weighted average number of shares of dilutive potential common stock. | |||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||
Shares | Per Share Amount | Shares | Per Share Amount | ||||||||||||||
Basic earnings per share | 3,713,342 | $ | 0.31 | 3,695,160 | $ | 0.33 | |||||||||||
Effect of dilutive securities, stock-based awards | 18,546 | 16,898 | |||||||||||||||
Diluted earnings per share | 3,731,888 | $ | 0.31 | 3,712,058 | $ | 0.33 | |||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||
Shares | Per Share Amount | Shares | Per Share Amount | ||||||||||||||
Basic earnings per share | 3,709,945 | $ | 0.79 | 3,690,294 | $ | 0.61 | |||||||||||
Effect of dilutive securities, stock-based awards | 15,572 | 14,256 | |||||||||||||||
Diluted earnings per share | 3,725,517 | $ | 0.79 | 3,704,550 | $ | 0.61 |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stock Based Compensation [Abstract] | ' | ||||||||
Summary of status of non-vested restricted shares | ' | ||||||||
A summary of the status of the Company's non-vested restricted shares granted under the above-described plans is presented below: | |||||||||
Nine Months Ended | |||||||||
30-Sep-13 | |||||||||
Shares | Weighted Average | ||||||||
Fair Value | |||||||||
Non-vested at January 1, 2013 | 31,423 | $ | 13.3 | ||||||
Granted | 18,182 | 11.91 | |||||||
Vested | (15,496 | ) | 13.09 | ||||||
Forfeited | - | ||||||||
Non-vested at September 30, 2013 | 34,109 | $ | 12.65 | ||||||
Summary of status of non-vested performance-based stock rights | ' | ||||||||
A summary of the status of the Company's non-vested performance-based stock rights is presented below: | |||||||||
Nine Months Ended | |||||||||
30-Sep-13 | |||||||||
Performance | Weighted Average | ||||||||
Based Stock | Fair Value | ||||||||
Rights | |||||||||
Non-vested at January 1, 2013 | 31,423 | $ | 13.3 | ||||||
Granted | 12,470 | 11.91 | |||||||
Vested | - | ||||||||
Forfeited | (9,784 | ) | 13.78 | ||||||
Non-vested at September 30, 2013 | 34,109 | $ | 12.65 | ||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Value Measurement [Abstract] | ' | ||||||||||||||||||||
Financial assets and liabilities measured at fair value on recurring basis | ' | ||||||||||||||||||||
The following table presents the balances of financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012 by levels within the valuation hierarchy: | |||||||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||||||
(In thousands) | Balance | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets at September 30, 2013: | |||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 42,230 | $ | - | $ | 42,230 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 7,078 | - | 7,078 | - | |||||||||||||||||
Corporate bonds | 440 | - | - | 440 | |||||||||||||||||
Mutual funds | 352 | 352 | - | - | |||||||||||||||||
Total available-for sale securities | $ | 50,100 | $ | 352 | $ | 49,308 | $ | 440 | |||||||||||||
Interest rate swaps | $ | 54 | $ | - | $ | 54 | $ | - | |||||||||||||
Total assets at fair value | $ | 50,154 | $ | 352 | $ | 49,362 | $ | 440 | |||||||||||||
Liabilities at September 30, 2013: | |||||||||||||||||||||
Interest rate swaps | $ | 345 | $ | - | $ | 345 | $ | - | |||||||||||||
Total liabilities at fair value | $ | 345 | $ | - | $ | 345 | $ | - | |||||||||||||
Assets at December 31, 2012: | |||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||
Obligations of U.S. Government corporations and agencies | $ | 40,014 | $ | - | $ | 40,014 | $ | - | |||||||||||||
Obligations of states and political subdivisions | 7,390 | - | 7,390 | - | |||||||||||||||||
Corporate bonds | 325 | - | - | 325 | |||||||||||||||||
Mutual funds | 363 | 363 | - | - | |||||||||||||||||
Total available-for sale securities | $ | 48,092 | $ | 363 | $ | 47,404 | $ | 325 | |||||||||||||
Interest rate swaps | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Total assets at fair value | $ | 48,092 | $ | 363 | $ | 47,404 | $ | 325 | |||||||||||||
Liabilities at December 31, 2012: | |||||||||||||||||||||
Interest rate swaps | $ | 841 | $ | - | $ | 841 | $ | - | |||||||||||||
Total liabilities at fair value | $ | 841 | $ | - | $ | 841 | $ | - | |||||||||||||
Changes in Level 3 assets measured at estimated fair value on a recurring | ' | ||||||||||||||||||||
Change in Level 3 Fair Value | |||||||||||||||||||||
The changes in Level 3 assets measured at estimated fair value on a recurring basis during the nine months ended September 30, 2013 and year ended December 31, 2012 were as follows: | |||||||||||||||||||||
Total Gains (Losses) Realized/Unrealized | |||||||||||||||||||||
(In thousands) | Balance | Included in | Included in Other | Transfers in | Balance | ||||||||||||||||
January 1, | Earnings | Comprehensive | and/or out of | 30-Sep-13 | |||||||||||||||||
2013 | Income | Level 3 and 2 | |||||||||||||||||||
Available-for-sale securities | $ | 325 | $ | - | $ | 115 | $ | - | $ | 440 | |||||||||||
Total Gains (Losses) Realized/Unrealized | |||||||||||||||||||||
(In thousands) | Balance | Included in | Included in Other | Transfers in | Balance | ||||||||||||||||
January 1, | Earnings | Comprehensive | and/or out of | 31-Dec-12 | |||||||||||||||||
2012 | Income | Level 3 and 2 | |||||||||||||||||||
Available-for-sale securities | $ | 335 | $ | - | $ | (10 | ) | $ | - | $ | 325 | ||||||||||
Financial assets measured at fair value on a nonrecurring basis | ' | ||||||||||||||||||||
The following table summarizes the Company's financial assets that were measured at fair value on a nonrecurring basis during the period. | |||||||||||||||||||||
Carrying Value at September 30, 2013 | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for | Significant Other | Significant Other | ||||||||||||||||||
30-Sep-13 | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans, net | $ | 4,690 | $ | - | $ | 4,433 | $ | 257 | |||||||||||||
Other real estate owned, net | 1,406 | - | 1,406 | - | |||||||||||||||||
Carrying Value at December 31, 2012 | |||||||||||||||||||||
Balance as of | Quoted Prices in Active Markets for | Significant Other | Significant Other | ||||||||||||||||||
31-Dec-12 | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans, net | $ | 868 | $ | - | $ | 491 | $ | 377 | |||||||||||||
Other real estate owned, net | 1,406 | - | 1,406 | - | |||||||||||||||||
Quantitative Information about level 3 fair value measurements | ' | ||||||||||||||||||||
The following table displays quantitative information about Level 3 Fair Value Measurements at September 30, 2013. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
(In thousands) | Fair | Valuation Technique(s) | Unobservable Input | Range | |||||||||||||||||
Value | |||||||||||||||||||||
Corporate securities available for sale | $ | 440 | Discounted cash flows | Prepayment rate, probability of default and loss severity | 5.1% to 52.4% discount rate | ||||||||||||||||
Impaired loans | 257 | Appraised values | Age of appraisal, current market conditions, and experience within local market | 0% to 100% discount | |||||||||||||||||
Total | $ | 697 | |||||||||||||||||||
Estimated fair values of the financial instruments | ' | ||||||||||||||||||||
The estimated fair values of the Company's financial instruments are as follows: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||
(In thousands) | Carrying | Quoted Prices | Significant | Significant | Fair Value | ||||||||||||||||
Value as of | in Active | Other | Other | as of | |||||||||||||||||
30-Sep-13 | Markets for | Observable | Unobservable | 30-Sep-13 | |||||||||||||||||
Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 53,660 | $ | 53,672 | $ | - | $ | - | $ | 53,672 | |||||||||||
Securities available for sale | 50,100 | 352 | 49,308 | 440 | 50,100 | ||||||||||||||||
Restricted investments | 1,462 | - | 1,462 | - | 1,462 | ||||||||||||||||
Net loans | 448,524 | - | 446,990 | 257 | 447,247 | ||||||||||||||||
Accrued interest receivable | 1,386 | - | 1,386 | - | 1,386 | ||||||||||||||||
Interest rate swaps | 54 | - | 54 | - | 54 | ||||||||||||||||
BOLI | 12,335 | - | 12,335 | - | 12,335 | ||||||||||||||||
Total financial assets | $ | 567,521 | $ | 54,024 | $ | 511,535 | $ | 697 | $ | 566,256 | |||||||||||
Liabilities | |||||||||||||||||||||
Deposits | $ | 522,803 | $ | - | $ | 524,356 | $ | - | $ | 524,356 | |||||||||||
Borrowings | 13,155 | - | 13,040 | - | 13,040 | ||||||||||||||||
Company obligated mandatorily redeemable capital securities | 4,124 | - | 4,114 | - | 4,114 | ||||||||||||||||
Accrued interest payable | 223 | - | 223 | - | 223 | ||||||||||||||||
Interest rate swaps | 345 | - | 345 | - | 345 | ||||||||||||||||
Total financial liabilities | $ | 540,650 | $ | - | $ | 542,078 | $ | - | $ | 542,078 | |||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||
(In thousands) | Carrying | Quoted Prices | Significant | Significant | Fair Value | ||||||||||||||||
Value as of | in Active | Other | Other | as of | |||||||||||||||||
31-Dec-12 | Markets for | Observable | Unobservable | 31-Dec-12 | |||||||||||||||||
Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Cash and short-term investments | $ | 64,435 | $ | 64,465 | $ | - | $ | - | $ | 64,465 | |||||||||||
Securities available for sale | 48,092 | 363 | 47,404 | 325 | 48,092 | ||||||||||||||||
Restricted investments | 2,337 | - | 2,337 | - | 2,337 | ||||||||||||||||
Net Loans | 445,108 | - | 443,045 | 377 | 443,422 | ||||||||||||||||
Accrued interest receivable | 1,283 | - | 1,283 | - | 1,283 | ||||||||||||||||
Interest rate swaps | - | - | - | - | - | ||||||||||||||||
BOLI | 12,038 | - | 12,038 | - | 12,038 | ||||||||||||||||
Total financial assets | $ | 573,293 | $ | 64,828 | $ | 506,107 | $ | 702 | $ | 571,637 | |||||||||||
Liabilities | |||||||||||||||||||||
Deposits | $ | 515,134 | $ | - | $ | 517,811 | $ | - | $ | 517,811 | |||||||||||
Borrowings | 28,200 | - | 28,877 | - | 28,877 | ||||||||||||||||
Company obligated mandatorily redeemable capital securities | 4,124 | - | 5,258 | - | 5,258 | ||||||||||||||||
Accrued interest payable | 312 | - | 312 | - | 312 | ||||||||||||||||
Interest rate swaps | 841 | - | 841 | - | 841 | ||||||||||||||||
Total financial liabilities | $ | 548,611 | $ | - | $ | 553,099 | $ | - | $ | 553,099 | |||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | ||||||||||||||||
Changes in accumulated other comprehensive income | ' | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income by Component (1) | |||||||||||||||||
(In thousands) | Gains and Losses on Cash Flow Hedges | Unrealized Gains and Losses on Available-for-Sale Securities | Supplemental Executive Retirement Plans | Total | |||||||||||||
Balance December 31, 2012 | $ | (361 | ) | $ | (1,398 | ) | $ | 47 | $ | (1,712 | ) | ||||||
Other comprehensive income (loss) before reclassifications | 166 | (732 | ) | - | (566 | ) | |||||||||||
Amounts reclassified from accumulated other comprehensive income | - | - | - | - | |||||||||||||
Net current-period other comprehensive income | 166 | (732 | ) | - | (566 | ) | |||||||||||
Balance September 30, 2013 | $ | (195 | ) | $ | (2,130 | ) | $ | 47 | $ | (2,278 | ) | ||||||
Balance December 31, 2011 | $ | (180 | ) | $ | (1,376 | ) | $ | 239 | $ | (1,317 | ) | ||||||
Other comprehensive income (loss) before reclassifications | (419 | ) | 244 | - | (175 | ) | |||||||||||
Amounts reclassified from accumulated other comprehensive income | - | (109 | ) | - | (109 | ) | |||||||||||
Net current-period other comprehensive income | (419 | ) | 135 | - | (284 | ) | |||||||||||
Balance September 30, 2012 | $ | (599 | ) | $ | (1,241 | ) | $ | 239 | $ | (1,601 | ) | ||||||
(1) All amounts are net of tax. Amounts in parentheses indicate debits. | |||||||||||||||||
Details about AOCI | ' | ||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income | |||||||||||||||||
For the Three Months Ended September 30, | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Details about accumulated other comprehensive income components | Amount reclassified from accumulated other comprehensive income | Amount reclassified from accumulated other comprehensive income | Affected line item in the statement where net income is presented. | ||||||||||||||
Unrealized gains and losses on available-for sale securities | $ | - | $ | 2 | Gain on sale of securities | ||||||||||||
- | 2 | Total income before income tax | |||||||||||||||
- | 1 | Income tax expense | |||||||||||||||
$ | - | $ | 1 | Net of tax | |||||||||||||
For the Nine Months Ended September 30, | |||||||||||||||||
(In thousands) | 2013 | 2012 | |||||||||||||||
Details about accumulated other comprehensive income components | Amount reclassified from accumulated other comprehensive income | Amount reclassified from accumulated other comprehensive income | Affected line item in the statement where net income is presented. | ||||||||||||||
Unrealized gains and losses on available-for sale securities | $ | - | $ | 165 | Gain on sale of securities | ||||||||||||
- | 165 | Total income before income tax | |||||||||||||||
- | 56 | Income tax expense | |||||||||||||||
$ | - | $ | 109 | Net of tax | |||||||||||||
Securities_Details
Securities (Details) (USD $) | 9 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | ||
Security | ||||
Bond | ||||
Quarter | ||||
Institute | ||||
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | $53,325,000 | $50,208,000 | ' | |
Gross Unrealized Gains | 671,000 | 1,415,000 | ' | |
Gross Unrealized (Losses) | -3,896,000 | -3,531,000 | ' | |
Fair Value | 50,100,000 | 48,092,000 | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Due in one year or less | 1,999,000 | ' | ' | |
Due after one year through five years | 10,044,000 | ' | ' | |
Due after five years through ten years | 13,816,000 | ' | ' | |
Due after ten years | 27,115,000 | ' | ' | |
Equity securities | 351,000 | ' | ' | |
Amortized Cost | 53,325,000 | 50,208,000 | ' | |
Available-for-sale Securities, Fair Value [Abstract] | ' | ' | ' | |
Due in one year or less | 2,023,000 | ' | ' | |
Due after one year through five years | 9,961,000 | ' | ' | |
Due after five years through ten years | 14,111,000 | ' | ' | |
Due after ten years | 23,653,000 | ' | ' | |
Equity securities | 352,000 | ' | ' | |
Fair Value | 50,100,000 | 48,092,000 | ' | |
Impairment losses on securities | 0 | ' | ' | |
Number of securities sold | 0 | ' | ' | |
Number of securities called | 6 | ' | ' | |
Fair Value Of Securities Called | 7,000,000 | ' | ' | |
Fair Value of Securities Sold | 0 | ' | ' | |
Number of Securities Purchased | 14 | ' | ' | |
Fair Value of Securities Purchased | 16,784,000 | ' | ' | |
Securities with gross unrealized losses and fair value in a continuous unrealized loss position [Abstract] | ' | ' | ' | |
Less than 12 months, fair value | 22,925,000 | 2,165,000 | ' | |
Less than 12 months, unrealized (losses) | -475,000 | -20,000 | ' | |
12 months or more, fair value | 440,000 | 325,000 | ' | |
12 months or more, unrealized (losses) | -3,421,000 | -3,511,000 | ' | |
Total, fair value | 23,365,000 | 2,490,000 | ' | |
Total, unrealized (losses) | -3,896,000 | -3,531,000 | ' | |
Number of temporarily impaired securities | 4 | ' | ' | |
Number of different financial institutions per bond | 59 | ' | ' | |
Estimated maturity | '20 years | ' | ' | |
Anniversary on which securities could have been called at par | '5 years | ' | ' | |
Frequency of re-pricing | '3 months | ' | ' | |
Bonds classified as nonperforming | 3 | ' | ' | |
Fair value of bonds classified as nonperforming | ' | ' | 128,000 | |
Bonds classified as performing | 1 | ' | ' | |
Fair value of bonds classified as performing | 312,000 | ' | ' | |
Number of consecutive quarters that the bond has been performing | 5 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 53,325,000 | 50,208,000 | ' | |
Cumulative amount of OTTI Loss | 2,038,000 | ' | ' | |
Cumulative Other Comprehensive Loss, net of tax benefit | 2,257,000 | ' | ' | |
Amount related to credit losses recognized in earnings [Roll Forward] | ' | ' | ' | |
Beginning balance | 2,115,000 | ' | ' | |
Add: Amount related to the credit loss for which an other-than-temporary impairment was not previously recognized | 0 | ' | ' | |
Add: Increases to the amount related to the credit loss for which an other-than temporary impairment was previously recognized | 0 | ' | ' | |
Less: Realized losses for securities sold | 0 | ' | ' | |
Less: Securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis | 0 | ' | ' | |
Less: Increases in cash flows expected to be collected that are recognized over the remaining life of the security (See FASB ASC 320-10-35-35) | -77,000 | ' | ' | |
Ending balance | 2,038,000 | ' | ' | |
Carrying value of securities pledged | 43,300,000 | 41,500,000 | ' | |
Pooled trust preferred securities [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 3,861,000 | ' | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 3,861,000 | ' | ' | |
Securities with gross unrealized losses and fair value in a continuous unrealized loss position [Abstract] | ' | ' | ' | |
Number of temporarily impaired securities | -3,421,000 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 3,861,000 | ' | ' | |
Fair Value | 440,000 | ' | ' | |
Pooled trust preferred securities I [Member] | Moody's, Ca Rating [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 357,000 | ' | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 357,000 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 357,000 | ' | ' | |
Fair Value | 33,000 | ' | ' | |
Percent of Underlying Collateral Performing (in hundredths) | 65.10% | ' | ' | |
Percent of Underlying Collateral in Deferral (in hundredths) | 5.90% | ' | ' | |
Percent of Underlying Collateral in Default (in hundredths) | 29.00% | ' | ' | |
Cumulative amount of OTTI Loss | 584,000 | ' | ' | |
Cumulative Other Comprehensive Loss, net of tax benefit | 213,000 | ' | ' | |
Pooled trust preferred securities II [Member] | Moody's, Ca Rating [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 1,610,000 | ' | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 1,610,000 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 1,610,000 | ' | ' | |
Fair Value | 312,000 | ' | ' | |
Percent of Underlying Collateral Performing (in hundredths) | 67.90% | ' | ' | |
Percent of Underlying Collateral in Deferral (in hundredths) | 11.90% | ' | ' | |
Percent of Underlying Collateral in Default (in hundredths) | 20.20% | ' | ' | |
Estimated incremental defaults required to break yield | 3.90% | [1] | ' | ' |
Cumulative amount of OTTI Loss | 348,000 | ' | ' | |
Cumulative Other Comprehensive Loss, net of tax benefit | 856,000 | ' | ' | |
Pooled trust preferred securities III [Member] | Moody's, Ca Rating [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 1,323,000 | ' | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 1,323,000 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 1,323,000 | ' | ' | |
Fair Value | 60,000 | ' | ' | |
Percent of Underlying Collateral Performing (in hundredths) | 63.00% | ' | ' | |
Percent of Underlying Collateral in Deferral (in hundredths) | 29.00% | ' | ' | |
Percent of Underlying Collateral in Default (in hundredths) | 8.00% | ' | ' | |
Cumulative amount of OTTI Loss | 677,000 | ' | ' | |
Cumulative Other Comprehensive Loss, net of tax benefit | 834,000 | ' | ' | |
Pooled trust preferred securities IV [Member] | Moody's, C Rating [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 571,000 | ' | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 571,000 | ' | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 571,000 | ' | ' | |
Fair Value | 35,000 | ' | ' | |
Percent of Underlying Collateral Performing (in hundredths) | 67.00% | ' | ' | |
Percent of Underlying Collateral in Deferral (in hundredths) | 22.00% | ' | ' | |
Percent of Underlying Collateral in Default (in hundredths) | 11.00% | ' | ' | |
Cumulative amount of OTTI Loss | 429,000 | ' | ' | |
Cumulative Other Comprehensive Loss, net of tax benefit | 354,000 | ' | ' | |
Obligations of U.S. Government Corporations and Agencies [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 42,331,000 | 39,240,000 | ' | |
Gross Unrealized Gains | 373,000 | 794,000 | ' | |
Gross Unrealized (Losses) | -474,000 | -20,000 | ' | |
Fair Value | 42,230,000 | 40,014,000 | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 42,331,000 | 39,240,000 | ' | |
Available-for-sale Securities, Fair Value [Abstract] | ' | ' | ' | |
Fair Value | 42,230,000 | 40,014,000 | ' | |
Securities with gross unrealized losses and fair value in a continuous unrealized loss position [Abstract] | ' | ' | ' | |
Less than 12 months, fair value | 22,412,000 | 2,165,000 | ' | |
Less than 12 months, unrealized (losses) | -474,000 | -20,000 | ' | |
12 months or more, fair value | 0 | 0 | ' | |
12 months or more, unrealized (losses) | 0 | 0 | ' | |
Total, fair value | 22,412,000 | 2,165,000 | ' | |
Total, unrealized (losses) | -474,000 | -20,000 | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 42,331,000 | 39,240,000 | ' | |
Obligations of States and Political Subdivisions [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 6,782,000 | 6,786,000 | ' | |
Gross Unrealized Gains | 297,000 | 604,000 | ' | |
Gross Unrealized (Losses) | -1,000 | 0 | ' | |
Fair Value | 7,078,000 | 7,390,000 | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 6,782,000 | 6,786,000 | ' | |
Available-for-sale Securities, Fair Value [Abstract] | ' | ' | ' | |
Fair Value | 7,078,000 | 7,390,000 | ' | |
Securities with gross unrealized losses and fair value in a continuous unrealized loss position [Abstract] | ' | ' | ' | |
Less than 12 months, fair value | 513,000 | 0 | ' | |
Less than 12 months, unrealized (losses) | -1,000 | 0 | ' | |
12 months or more, fair value | 0 | 0 | ' | |
12 months or more, unrealized (losses) | 0 | 0 | ' | |
Total, fair value | 513,000 | 0 | ' | |
Total, unrealized (losses) | -1,000 | 0 | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 6,782,000 | 6,786,000 | ' | |
Corporate Bonds [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 3,861,000 | 3,836,000 | ' | |
Gross Unrealized Gains | 0 | 0 | ' | |
Gross Unrealized (Losses) | -3,421,000 | -3,511,000 | ' | |
Fair Value | 440,000 | 325,000 | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 3,861,000 | 3,836,000 | ' | |
Available-for-sale Securities, Fair Value [Abstract] | ' | ' | ' | |
Fair Value | 440,000 | 325,000 | ' | |
Securities with gross unrealized losses and fair value in a continuous unrealized loss position [Abstract] | ' | ' | ' | |
Less than 12 months, fair value | 0 | 0 | ' | |
Less than 12 months, unrealized (losses) | 0 | 0 | ' | |
12 months or more, fair value | 440,000 | 325,000 | ' | |
12 months or more, unrealized (losses) | -3,421,000 | -3,511,000 | ' | |
Total, fair value | 440,000 | 325,000 | ' | |
Total, unrealized (losses) | -3,421,000 | -3,511,000 | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | 3,861,000 | 3,836,000 | ' | |
Mutual Funds [Member] | ' | ' | ' | |
Amortized cost and fair value of securities available for sale, with unrealized gains and losses [Abstract] | ' | ' | ' | |
Amortized Cost | 351,000 | 346,000 | ' | |
Gross Unrealized Gains | 1,000 | 17,000 | ' | |
Gross Unrealized (Losses) | 0 | 0 | ' | |
Fair Value | 352,000 | 363,000 | ' | |
Available-for-sale Securities, Amortized Cost [Abstract] | ' | ' | ' | |
Amortized Cost | 351,000 | 346,000 | ' | |
Available-for-sale Securities, Fair Value [Abstract] | ' | ' | ' | |
Fair Value | 352,000 | 363,000 | ' | |
Additional information regarding each of the pooled trust preferred securities [Abstract] | ' | ' | ' | |
Cost, net of OTTI loss | $351,000 | $346,000 | ' | |
[1] | A break in yield for a given tranche investment means that defaults and/or deferrals have reached such a level that the specific tranche would not receive all of the contractual principal and interest cash flow by its maturity, resulting in not a temporary shortfall, but an actual loss. This column represents the percentage of additional defaults among the currently performing and deferred collateral that would |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | $6,258 | $6,728 |
Charge-offs | -1,167 | -6,309 |
Recoveries | 90 | 32 |
Provision (recovery) | 1,300 | 5,807 |
Ending balance | 6,481 | 6,258 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 1,277 | 1,009 |
Ending balances collectively evaluated for impairment | 5,204 | 5,249 |
Loans receivable, individually evaluated for impairment | 13,722 | 17,065 |
Loans receivable, collectively evaluated for impairment | 441,283 | 434,301 |
Loans receivable, ending balance | 455,005 | 451,366 |
Commercial and Industrial [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 932 | 795 |
Charge-offs | -257 | -526 |
Recoveries | 59 | 7 |
Provision (recovery) | 338 | 656 |
Ending balance | 1,072 | 932 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 219 | 428 |
Ending balances collectively evaluated for impairment | 853 | 504 |
Loans receivable, individually evaluated for impairment | 481 | 674 |
Loans receivable, collectively evaluated for impairment | 24,248 | 26,466 |
Loans receivable, ending balance | 24,729 | 27,140 |
Commercial Real Estate [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 1,685 | 2,899 |
Charge-offs | -550 | -5,004 |
Recoveries | 0 | 9 |
Provision (recovery) | 1,161 | 3,781 |
Ending balance | 2,296 | 1,685 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 515 | 0 |
Ending balances collectively evaluated for impairment | 1,781 | 1,685 |
Loans receivable, individually evaluated for impairment | 6,868 | 9,612 |
Loans receivable, collectively evaluated for impairment | 176,434 | 183,393 |
Loans receivable, ending balance | 183,302 | 193,005 |
Construction and Land [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 402 | 195 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision (recovery) | 40 | 207 |
Ending balance | 442 | 402 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 341 | 293 |
Ending balances collectively evaluated for impairment | 101 | 109 |
Loans receivable, individually evaluated for impairment | 4,130 | 4,175 |
Loans receivable, collectively evaluated for impairment | 31,702 | 35,870 |
Loans receivable, ending balance | 35,832 | 40,045 |
Consumer [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 40 | 31 |
Charge-offs | -104 | -117 |
Recoveries | 23 | 14 |
Provision (recovery) | 64 | 112 |
Ending balance | 23 | 40 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 0 | 0 |
Ending balances collectively evaluated for impairment | 23 | 40 |
Loans receivable, individually evaluated for impairment | 0 | 4 |
Loans receivable, collectively evaluated for impairment | 3,756 | 4,563 |
Loans receivable, ending balance | 3,756 | 4,567 |
Student US Government Guaranteed [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 0 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision (recovery) | 72 | 0 |
Ending balance | 72 | 0 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 0 | 0 |
Ending balances collectively evaluated for impairment | 72 | 0 |
Loans receivable, individually evaluated for impairment | 0 | 0 |
Loans receivable, collectively evaluated for impairment | 24,578 | 4,994 |
Loans receivable, ending balance | 24,578 | 4,994 |
Residential Real Estate [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 1,691 | 1,584 |
Charge-offs | -82 | -126 |
Recoveries | 2 | 2 |
Provision (recovery) | -209 | 231 |
Ending balance | 1,402 | 1,691 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 202 | 176 |
Ending balances collectively evaluated for impairment | 1,200 | 1,515 |
Loans receivable, individually evaluated for impairment | 2,145 | 2,372 |
Loans receivable, collectively evaluated for impairment | 137,411 | 134,218 |
Loans receivable, ending balance | 139,556 | 136,590 |
Unallocated Financing Receivables [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 172 | 526 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision (recovery) | 109 | -354 |
Ending balance | 281 | 172 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 0 | 0 |
Ending balances collectively evaluated for impairment | 281 | 172 |
Home Equity Line of Credit [Member] | ' | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' |
Beginning balance | 1,336 | 698 |
Charge-offs | -174 | -536 |
Recoveries | ' | 0 |
Provision (recovery) | -275 | 1,174 |
Ending balance | 893 | 1,336 |
Additional information on allowance for loan losses and recorded investment in loans receivable [Abstract] | ' | ' |
Ending balances individually evaluated for impairment | 0 | 112 |
Ending balances collectively evaluated for impairment | 893 | 1,224 |
Loans receivable, individually evaluated for impairment | 98 | 228 |
Loans receivable, collectively evaluated for impairment | 43,154 | 44,797 |
Loans receivable, ending balance | $43,252 | $45,025 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses, Credit Quality Indicators (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | $455,005 | $451,366 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 395,209 | 380,250 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 32,140 | 35,984 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 26,654 | 33,919 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,002 | 1,213 |
Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 24,729 | 27,140 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 20,965 | 21,704 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,332 | 2,635 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,257 | 2,391 |
Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 175 | 410 |
Commercial and Industrial [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 183,302 | 193,005 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 149,331 | 152,483 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 21,293 | 21,455 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 12,678 | 19,067 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Commercial Real Estate [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Construction and Land [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 35,832 | 40,045 |
Construction and Land [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 31,702 | 35,871 |
Construction and Land [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Construction and Land [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,994 | 4,038 |
Construction and Land [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 136 | 136 |
Construction and Land [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,756 | 4,567 |
Consumer [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,749 | 4,558 |
Consumer [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Consumer [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 7 | 9 |
Consumer [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Consumer [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 139,556 | 136,590 |
Residential Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 125,485 | 120,451 |
Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 6,764 | 9,016 |
Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 6,616 | 6,456 |
Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 691 | 667 |
Residential Real Estate [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Home Equity Line of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 43,252 | 45,025 |
Home Equity Line of Credit [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 39,399 | 40,189 |
Home Equity Line of Credit [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,751 | 2,878 |
Home Equity Line of Credit [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,102 | 1,958 |
Home Equity Line of Credit [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Home Equity Line of Credit [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Student US Government Guaranteed [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 24,578 | 4,994 |
Student US Government Guaranteed [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 24,578 | 4,994 |
Student US Government Guaranteed [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Student US Government Guaranteed [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Student US Government Guaranteed [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Student US Government Guaranteed [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | $0 | $0 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses, Age Analysis of Past Due Loans Receivable (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | $10,117 | $4,460 | ' |
60 to 89 Days Past Due | 792 | 709 | ' |
90 Days or More Past Due | 7,940 | 9,679 | ' |
Total Past Due | 18,849 | 14,848 | ' |
Current | 436,156 | 436,518 | ' |
Loans receivable, ending balance | 455,005 | 451,366 | ' |
Carrying Amount > 90 Days and Accruing | 3,630 | 132 | ' |
Nonaccruals | 5,060 | 10,650 | 12,428 |
Commercial and Industrial [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 0 | 92 | ' |
60 to 89 Days Past Due | 0 | 52 | ' |
90 Days or More Past Due | 162 | 41 | ' |
Total Past Due | 162 | 185 | ' |
Current | 24,567 | 26,955 | ' |
Loans receivable, ending balance | 24,729 | 27,140 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Nonaccruals | 386 | 643 | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 0 | 0 | ' |
60 to 89 Days Past Due | 0 | 0 | ' |
90 Days or More Past Due | 3,133 | 7,712 | ' |
Total Past Due | 3,133 | 7,712 | ' |
Current | 180,169 | 185,293 | ' |
Loans receivable, ending balance | 183,302 | 193,005 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Nonaccruals | 3,133 | 7,712 | ' |
Construction and Land [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 61 | 508 | ' |
60 to 89 Days Past Due | 0 | 250 | ' |
90 Days or More Past Due | 136 | 136 | ' |
Total Past Due | 197 | 894 | ' |
Current | 35,635 | 39,151 | ' |
Loans receivable, ending balance | 35,832 | 40,045 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Nonaccruals | 136 | 136 | ' |
Consumer [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 37 | 39 | ' |
60 to 89 Days Past Due | 0 | 10 | ' |
90 Days or More Past Due | 1 | 5 | ' |
Total Past Due | 38 | 54 | ' |
Current | 3,718 | 4,513 | ' |
Loans receivable, ending balance | 3,756 | 4,567 | ' |
Carrying Amount > 90 Days and Accruing | 1 | 1 | ' |
Nonaccruals | 0 | 4 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 593 | 2,397 | ' |
60 to 89 Days Past Due | 486 | 397 | ' |
90 Days or More Past Due | 879 | 1,474 | ' |
Total Past Due | 1,958 | 4,268 | ' |
Current | 137,598 | 132,322 | ' |
Loans receivable, ending balance | 139,556 | 136,590 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Nonaccruals | 1,405 | 1,927 | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 27 | 1,424 | ' |
60 to 89 Days Past Due | 0 | 0 | ' |
90 Days or More Past Due | 0 | 311 | ' |
Total Past Due | 27 | 1,735 | ' |
Current | 43,225 | 43,290 | ' |
Loans receivable, ending balance | 43,252 | 45,025 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 131 | ' |
Nonaccruals | 0 | 228 | ' |
Student US Government Guaranteed [Member] | ' | ' | ' |
Age analysis of past due loans receivable [Abstract] | ' | ' | ' |
30 to 59 Days Past Due | 9,399 | 0 | ' |
60 to 89 Days Past Due | 306 | 0 | ' |
90 Days or More Past Due | 3,629 | 0 | ' |
Total Past Due | 13,334 | 0 | ' |
Current | 11,244 | 4,994 | ' |
Loans receivable, ending balance | 24,578 | 4,994 | ' |
Carrying Amount > 90 Days and Accruing | 3,629 | 0 | ' |
Nonaccruals | ' | $0 | ' |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses, Impaired Loans Receivable (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, total | $13,722 | $17,065 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, total | 13,722 | 19,976 |
Related Allowance [Abstract] | ' | ' |
Related allowance, total | 1,277 | 1,009 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with an allowance recorded | 2 | ' |
Average recorded investment, total | 14,279 | 19,710 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income, total | 323 | 921 |
Commercial loans classified as substandard deemed not to be impaired | 7,760 | ' |
Increase (decrease) in impaired loans | -3,343 | ' |
Collateralized loans classified as impaired | 13,241 | ' |
Commercial and Industrial [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 151 | 109 |
Recorded investment, with an allowance recorded | 330 | 565 |
Recorded investment, total | 481 | 674 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 151 | 109 |
Unpaid principal balance, with an allowance recorded | 330 | 565 |
Unpaid principal balance, total | 481 | 674 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 219 | 428 |
Related allowance, total | 219 | 428 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 177 | 136 |
Average recorded investment, with an allowance recorded | 344 | 575 |
Average recorded investment, total | 521 | 711 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 5 | 2 |
Interest income recognized, with an allowance recorded | ' | 5 |
Interest income, total | 7 | 7 |
Commercial Real Estate [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 4,292 | 9,612 |
Recorded investment, with an allowance recorded | 2,576 | 0 |
Recorded investment, total | 6,868 | 9,612 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 4,292 | 12,523 |
Unpaid principal balance, with an allowance recorded | 2,576 | 0 |
Unpaid principal balance, total | 6,868 | 12,523 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 515 | 0 |
Related allowance, total | 515 | 0 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 4,302 | 11,613 |
Average recorded investment, with an allowance recorded | 2,857 | 0 |
Average recorded investment, total | 7,159 | 11,613 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 72 | 650 |
Interest income recognized, with an allowance recorded | 68 | 0 |
Interest income, total | 140 | 650 |
Construction and Land [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 1,997 | 3,711 |
Recorded investment, with an allowance recorded | 2,133 | 464 |
Recorded investment, total | 4,130 | 4,175 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 1,997 | 3,711 |
Unpaid principal balance, with an allowance recorded | 2,133 | 464 |
Unpaid principal balance, total | 4,130 | 4,175 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 341 | 293 |
Related allowance, total | 341 | 293 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 2,018 | 4,134 |
Average recorded investment, with an allowance recorded | 2,134 | 594 |
Average recorded investment, total | 4,152 | 4,728 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 76 | 200 |
Interest income recognized, with an allowance recorded | 66 | 21 |
Interest income, total | 142 | 221 |
Residential Real Estate [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 1,217 | 1,705 |
Recorded investment, with an allowance recorded | 928 | 667 |
Recorded investment, total | 2,145 | 2,372 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 1,217 | 1,705 |
Unpaid principal balance, with an allowance recorded | 928 | 667 |
Unpaid principal balance, total | 2,145 | 2,372 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 202 | 176 |
Related allowance, total | 202 | 176 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 1,251 | 1,734 |
Average recorded investment, with an allowance recorded | 947 | 692 |
Average recorded investment, total | 2,198 | 2,426 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 12 | 39 |
Interest income recognized, with an allowance recorded | 12 | 0 |
Interest income, total | 24 | 39 |
Home Equity Line of Credit [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 98 | 47 |
Recorded investment, with an allowance recorded | 0 | 181 |
Recorded investment, total | 98 | 228 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 98 | 47 |
Unpaid principal balance, with an allowance recorded | 0 | 181 |
Unpaid principal balance, total | 98 | 228 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 0 | 112 |
Related allowance, total | 0 | 112 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 249 | 47 |
Average recorded investment, with an allowance recorded | 0 | 180 |
Average recorded investment, total | 249 | 227 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 10 | 1 |
Interest income recognized, with an allowance recorded | 0 | 3 |
Interest income, total | 10 | 4 |
Consumer [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 0 | 4 |
Recorded investment, with an allowance recorded | 0 | 0 |
Recorded investment, total | 0 | 4 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 0 | 4 |
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Unpaid principal balance, total | 0 | 4 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 0 | 0 |
Related allowance, total | 0 | 0 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 0 | 5 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Average recorded investment, total | 0 | 5 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 0 | 0 |
Interest income recognized, with an allowance recorded | 0 | 0 |
Interest income, total | 0 | 0 |
Student US Government Guaranteed [Member] | ' | ' |
Recorded Investment [Abstract] | ' | ' |
Recorded investment, with no specific allowance recorded | 0 | 0 |
Recorded investment, with an allowance recorded | 0 | 0 |
Recorded investment, total | 0 | 0 |
Unpaid Principal Balance [Abstract] | ' | ' |
Unpaid principal balance, with no specific allowance recorded | 0 | 0 |
Unpaid principal balance, with an allowance recorded | 0 | 0 |
Unpaid principal balance, total | 0 | 0 |
Related Allowance [Abstract] | ' | ' |
Related allowance, with no specific allowance recorded | 0 | 0 |
Related allowance, with an allowance recorded | 0 | 0 |
Related allowance, total | 0 | 0 |
Average Recorded Investment [Abstract] | ' | ' |
Average recorded investment, with no specific allowance recorded | 0 | 0 |
Average recorded investment, with an allowance recorded | 0 | 0 |
Average recorded investment, total | 0 | 0 |
Interest Income Recognized [Abstract] | ' | ' |
Interest income recognized, with no specific allowance recorded | 0 | 0 |
Interest income recognized, with an allowance recorded | 0 | 0 |
Interest income, total | $0 | $0 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses, Troubled Debt Restructurings (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 | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | 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 | 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 | |
Contract | Loan | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Construction and Land [Member] | Construction and Land [Member] | Construction and Land [Member] | Construction and Land [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Home Equity Line of Credit [Member] | Student US Government Guaranteed [Member] | Student US Government Guaranteed [Member] | Student US Government Guaranteed [Member] | Student US Government Guaranteed [Member] | |||
Loan | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | Contract | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled debt restructurings, number of contracts | 3 | ' | ' | ' | 2 | 1 | 2 | 2 | 0 | 1 | 2 | 2 | 1 | 1 | 2 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Troubled debt restructurings, pre-modification outstanding recorded investment | $1,965,000 | ' | ' | ' | $292,000 | $198,000 | $292,000 | $435,000 | $0 | $1,783,000 | $2,010,000 | $3,683,000 | $1,673,000 | $1,673,000 | $2,481,000 | $3,473,000 | $0 | $0 | $0 | $0 | $0 | $0 | $300,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Troubled debt restructurings, post-modification outstanding recorded investment | ' | ' | ' | ' | 292,000 | 198,000 | 292,000 | 435,000 | 0 | 1,783,000 | 2,010,000 | 3,683,000 | 1,673,000 | 1,673,000 | 2,481,000 | 3,473,000 | 0 | 0 | 0 | 0 | 0 | 0 | 300,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Troubled debt restructurings that subsequently defaulted, number of contracts | ' | ' | ' | ' | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | 0 | 0 | 0 | ' | 0 | 0 | 0 | ' | 0 | 0 | 0 | ' | 0 | 0 |
Troubled debt restructurings that subsequently defaulted, pre-modification outstanding recorded investment | ' | 0 | ' | ' | 0 | 0 | 237,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | ' | 0 | 0 | ' | ' | 0 | 0 | ' | ' | 0 | 0 |
Troubled debt restructurings that subsequently defaulted, post-modification outstanding recorded investment | ' | 0 | ' | ' | 0 | 0 | 237,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | 0 | 0 | 0 | ' | 0 | 0 | ' | ' | 0 | 0 | ' | ' | 0 | 0 |
Number of TDR loans secured by business assets | 13 | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TDR loans value | 9,530,000 | 9,530,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of TDR loans current and performing | 9 | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TDR loans current and performing | 8,564,000 | 8,564,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of TDR loans not performing in accordance with the modified terms | 4 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TDR loans not performing in accordance with modified terms | 966,000 | 966,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-performing Assets, Restructured Loans Still Accruing and Loans Contractually Past Due [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-accrual loans | 5,060,000 | 5,060,000 | 10,650,000 | 12,428,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other real estate owned | 1,406,000 | 1,406,000 | 1,406,000 | 1,776,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-performing corporate bond investments, at fair value | 128,000 | 128,000 | 325,000 | 303,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total non-performing assets | 6,594,000 | 6,594,000 | 12,381,000 | 14,507,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructured loans still accruing | 8,564,000 | 8,564,000 | 5,556,000 | 5,562,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Student Loans 90 PD Still Accruing | 3,629,000 | 3,629,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans past due 90 or more days and still accruing | 1,000 | 1,000 | 132,000 | 248,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total non-performing and other risk assets | $18,788,000 | $18,788,000 | $18,069,000 | $20,317,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses to total loans (in hundredths) | 1.42% | 1.42% | 1.39% | 1.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-accrual loans to total loans (in hundredths) | 1.11% | 1.11% | 2.36% | 2.74% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses to non-accrual loans (in hundredths) | 128.08% | 128.08% | 58.76% | 69.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total non-accrual loans and restructured loans still accruing to total loans (in hundredths) | 2.99% | 2.99% | 3.59% | 3.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses to non-accrual loans and restructured loans still accruing (in hundredths) | 47.57% | 47.57% | 38.62% | 47.84% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total non-performing assets to total assets (in hundredths) | 1.11% | 1.11% | 2.06% | 2.52% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CompanyObligated_Mandatorily_R1
Company-Obligated Mandatorily Redeemable Capital Securities (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 21, 2006 | |
Floating Rate Junior Subordinated Deferrable Interest Debentures [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal amount of debt | $4,000,000 | ' |
Maturity date | 31-Dec-36 | ' |
Floating Rate Capital Securities [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Face amount of capital securities | ' | 4,000,000 |
Capital securities, basis spread on variable rate (in hundredths) | 2.00% | ' |
Capital securities, description of variable rate basis | 'three month LIBOR | ' |
Capital securities | $4,124,000 | ' |
Callable period of capital securities | '5 years | ' |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities (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 |
Interest Rate Swap [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Maturity date of Floating Rate Junior Subordinated Deferrable Interest Debentures | 31-Dec-36 | ' | ' | ' |
Derivative, maturity date | 31-Dec-20 | ' | ' | ' |
Derivative, description of variable rate basis | 'three month LIBOR | 'one-month LIBOR | ' | ' |
Derivative, basis spread on variable rate (in hundredths) | 2.00% | ' | 2.00% | ' |
Derivative, type of interest rate paid on swap | 'fixed rate | ' | ' | ' |
Derivative, fixed interest rate (in hundredths) | 4.90% | ' | 4.90% | ' |
Interest expense on interest rate swap | $30 | $28 | $89 | $83 |
Interest Rate Swaps II [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Interest expense on interest rate swap | $27 | $22 | $81 | $68 |
Number of derivative instruments entered into | ' | ' | 3 | ' |
Number of commercial loans related to interest rate swaps | ' | ' | 3 | ' |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities, Derivative Contract Type (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Derivatives in cash flow hedging relationships [Abstract] | ' | ' | ' |
Amount of gain (loss) recognized in OCI on derivatives, net of tax (effective portion) | ' | $166 | ($181) |
Location of gain or (loss) recognized in income on derivative (ineffective portion) | ' | 'Not applicable | 'Not applicable |
Amount of gain (loss) recognized in income on derivative (ineffective portion) | ' | 0 | 0 |
Interest Rate Swap [Member] | ' | ' | ' |
Derivatives in fair value hedging relationships [Abstract] | ' | ' | ' |
Description of income statement classification | 'Interest income | ' | 'Income Statement Classification |
Gain or (Loss) on swaps | ' | 38 | -51 |
Interest Rate Swap-10 Year Cash Flow [Member] | Other Liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Notional/ contract amount | 4,000 | 4,000 | 4,000 |
Estimated net fair value | -295 | -295 | -547 |
Fair value balance sheet location | 'Other Liabilities | ' | 'Other Liabilities |
Expiration date | 15-Sep-20 | ' | 15-Sep-20 |
Interest Rate Swap-10 Year Fair Value 1 [Member] | Other Liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Notional/ contract amount | 2,172 | 2,172 | 2,204 |
Estimated net fair value | -25 | -25 | -148 |
Fair value balance sheet location | 'Other Liabilities | ' | 'Other Liabilities |
Expiration date | 15-Aug-21 | ' | 15-Aug-21 |
Interest Rate Swap-10 Year Fair Value 2 [Member] | Other Liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Notional/ contract amount | 2,048 | 2,048 | 2,078 |
Estimated net fair value | -25 | -25 | -141 |
Fair value balance sheet location | 'Other Liabilities | ' | 'Other Liabilities |
Expiration date | 15-Aug-21 | ' | 15-Aug-21 |
Interest Rate Swap-10 Year Fair Value 3 [Member] | Other Assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Notional/ contract amount | 1,032 | 1,032 | ' |
Estimated net fair value | 54 | 54 | ' |
Fair value balance sheet location | 'Other Assets | ' | ' |
Expiration date | 26-Sep-22 | ' | ' |
Interest Rate Swap-10 Year Fair Value 3 [Member] | Other Liabilities [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Notional/ contract amount | ' | ' | 1,050 |
Estimated net fair value | ' | ' | ($5) |
Fair value balance sheet location | ' | ' | 'Other Liabilities |
Expiration date | ' | ' | 26-Sep-22 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Shares [Abstract] | ' | ' | ' | ' |
Basic earnings per share (in shares) | 3,713,342 | 3,695,160 | 3,709,945 | 3,690,294 |
Effect of dilutive securities, stock-based awards (in shares) | 18,546 | 16,898 | 15,572 | 14,256 |
Diluted earnings per share (in shares) | 3,731,888 | 3,712,058 | 3,725,517 | 3,704,550 |
Per share amount [Abstract] | ' | ' | ' | ' |
Basic earnings per share (in dollars per share) | $0.31 | $0.33 | $0.79 | $0.61 |
Diluted earnings per share (in dollars per share) | $0.31 | $0.33 | $0.79 | $0.61 |
Stock_Based_Compensation_Detai
Stock Based Compensation (Details) (USD $) | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Feb. 21, 2013 | Feb. 16, 2012 | Sep. 30, 2013 | 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, 2013 | Sep. 30, 2013 | Feb. 21, 2013 | Feb. 16, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Performance based stock rights [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | |
Non employee Director [Member] | Non employee Director [Member] | Non employee Director [Member] | Non employee Director [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Stock Options [Member] | Unvested Restricted Shares [Member] | Unvested Restricted Shares [Member] | Performance based stock rights [Member] | Performance based stock rights [Member] | Performance based stock rights [Member] | Performance based stock rights [Member] | ||||||
Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares authorized (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise price of options as percentage of market price (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' |
Award term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' |
Granted (in shares) | 5,712 | 5,632 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,470 | 11,925 | ' | ' | ' | ' |
Compensation expense | ' | ' | ' | $0 | $0 | $68 | $68 | $36 | $35 | $111 | $104 | ' | ' | ' | ' | ' | $22 | $0 | $64 | ($102) |
Total unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | $195 | ' | $195 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recognition period for total unrecognized compensation costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested equity instruments other than options, shares [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested at beginning of period (in shares) | ' | ' | 31,423 | ' | ' | ' | ' | ' | ' | ' | ' | 31,423 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | 18,182 | ' | ' | ' | ' | ' | ' | ' | ' | 12,470 | ' | ' | ' | ' | ' | ' | ' | ' |
Vested (in shares) | ' | ' | -15,496 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | -9,784 | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested at end of period (in shares) | ' | ' | 34,109 | ' | ' | ' | ' | ' | ' | ' | ' | 34,109 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested equity instruments other than option, weighted average fair value [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested at January 1, 2013 (in dollars per share) | ' | ' | $13.30 | ' | ' | ' | ' | ' | ' | ' | ' | $13.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | $11.90 | ' | ' | ' | ' | ' | ' | ' | ' | $11.90 | ' | ' | ' | ' | ' | ' | ' | ' |
Vested (in dollars per share) | ' | ' | $13.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.80 | ' | ' | ' | ' | ' | ' | ' | ' |
Nonvested at end of period (in dollars per share) | ' | ' | $12.70 | ' | ' | ' | ' | ' | ' | ' | ' | $12.70 | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (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 |
Installment | |||||
401(k) Plan [Abstract] | ' | ' | ' | ' | ' |
Period of service required to be eligible | ' | ' | '3 months | ' | ' |
Minimum years of age to be eligible | ' | ' | '18 years | ' | ' |
Maximum annual contribution per employee, percent (in hundredths) | ' | ' | 100.00% | ' | ' |
Employer matching contribution of first 1% (in hundredths) | ' | ' | 100.00% | ' | ' |
Employer matching contribution for next 5% of employee contribution (in hundredths) | ' | ' | 50.00% | ' | ' |
Employer matching contribution, percent (in hundredths) | ' | ' | 3.50% | ' | ' |
Additional safe harbor contribution by employer, percent (in hundredths) | ' | ' | 6.00% | ' | ' |
401K Expense | $160 | $188 | $502 | $546 | ' |
Deferred Compensation Plan [Abstract] | ' | ' | ' | ' | ' |
Number of installments available, minimum | 1 | ' | ' | ' | ' |
Number of installments available, maximum | 5 | ' | ' | ' | ' |
Deferred compensation expense | 9 | 8 | 25 | 25 | ' |
Cash surrender value of life insurance | 1,202 | ' | 1,202 | ' | 1,180 |
Life Insurance, Corporate or Bank Owned, Change in Value | $8 | $9 | $22 | $26 | ' |
Fair_Value_Measurement_Assets_
Fair Value Measurement, Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Total available-for sale securities | $352 | $363 |
Interest rate swaps | 0 | 0 |
Total assets at fair value | 54,024 | 64,828 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Total available-for sale securities | 49,308 | 47,404 |
Interest rate swaps | 54 | 0 |
Total assets at fair value | 511,535 | 506,107 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | 542,078 | 553,099 |
Significant Other Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Total available-for sale securities | 440 | 325 |
Interest rate swaps | 0 | 0 |
Total assets at fair value | 697 | 702 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Obligations of U.S. Government corporations and agencies | 42,230 | 40,014 |
Obligations of states and political subdivisions | 7,078 | 7,390 |
Corporate bonds | 440 | 325 |
Mutual funds | 352 | 363 |
Total available-for sale securities | 50,100 | 48,092 |
Interest rate swaps | 54 | 0 |
Total assets at fair value | 50,154 | 48,092 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | 345 | 841 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Obligations of U.S. Government corporations and agencies | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate bonds | 0 | 0 |
Mutual funds | 352 | 363 |
Total available-for sale securities | 352 | 363 |
Interest rate swaps | 0 | 0 |
Total assets at fair value | 352 | 363 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Obligations of U.S. Government corporations and agencies | 42,230 | 40,014 |
Obligations of states and political subdivisions | 7,078 | 7,390 |
Corporate bonds | 0 | 0 |
Mutual funds | 0 | 0 |
Total available-for sale securities | 49,308 | 47,404 |
Interest rate swaps | 54 | 0 |
Total assets at fair value | 49,362 | 47,404 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | 345 | 841 |
Fair Value, Measurements, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets available for sale securities [Abstract] | ' | ' |
Obligations of U.S. Government corporations and agencies | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate bonds | 440 | 325 |
Mutual funds | 0 | 0 |
Total available-for sale securities | 440 | 325 |
Interest rate swaps | 0 | 0 |
Total assets at fair value | 440 | 325 |
Liabilities [Abstract] | ' | ' |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Financial Assets Measured at Fair Value on a Nonrecurring Basis [Abstract] | ' | ' |
Impaired loans, net | 4,690 | 868 |
Other real estate owned, net | 1,406 | 1,406 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial Assets Measured at Fair Value on a Nonrecurring Basis [Abstract] | ' | ' |
Impaired loans, net | 0 | 0 |
Other real estate owned, net | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial Assets Measured at Fair Value on a Nonrecurring Basis [Abstract] | ' | ' |
Impaired loans, net | 4,433 | 491 |
Other real estate owned, net | 1,406 | 1,406 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial Assets Measured at Fair Value on a Nonrecurring Basis [Abstract] | ' | ' |
Impaired loans, net | 257 | 377 |
Other real estate owned, net | $0 | $0 |
Fair_Value_Measurement_on_Recu
Fair Value Measurement, on Recurring Basis, Unobservble Input Reconciliation (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | |||||
Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | |||||
Mortgage secured by real estate [Member] | Mortgage secured by business assets [Member] | ||||||||
Loan | Loan | ||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | ' | ' | $325 | $335 | ' | ' | ' | ' | ' |
Total gain (losses) realized/unrealized included in earnings | ' | ' | 0 | 0 | ' | ' | ' | ' | ' |
Total gain (losses) realized/unrealized included in other comprehensive income | ' | ' | 115 | -10 | ' | ' | ' | ' | ' |
Transfers in and/or out of level 3 and 2 | ' | ' | 0 | 0 | ' | ' | ' | ' | ' |
Balance, end of period | ' | ' | 440 | 325 | ' | ' | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Age of appraisal of real estate property for to be considered level 3, minimum | ' | ' | ' | ' | '1 year | ' | ' | ' | ' |
Number of loans | ' | ' | ' | ' | ' | 2 | 3 | ' | ' |
Loans | 455,005 | 451,366 | ' | ' | ' | 461 | 330 | ' | ' |
Reserve for loan losses | ' | ' | ' | ' | ' | 315 | 219 | ' | ' |
Total Valuation of Property | ' | ' | ' | ' | ' | ' | ' | $1,406 | $1,406 |
Fair_Value_Measurement_Fair_Va
Fair Value Measurement, Fair Value Inputs, Assets, Quantitative Information (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Observable Inputs (Level 2) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | Significant Other Unobservable Inputs (Level 3) [Member] | |||||||||||
Discounted cash flow [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | ||||||||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available for sale | $352 | $363 | $49,308 | $47,404 | $440 | $325 | $50,100 | $48,092 | $352 | $363 | $49,308 | $47,404 | $440 | $325 | ' | ' | ' | ' | ' | ' | ' | ' | $440 | ' | ' | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Loans at fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,690 | 868 | 0 | 0 | 4,433 | 491 | 257 | 377 | ' | ' | ' | 257 | ' | ' |
Total | ' | ' | ' | ' | $697 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.40% | 5.10% | ' | 100.00% | 0.00% |
Weighted Average, Discount rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.40% | 5.10% | ' | 100.00% | 0.00% |
Fair_Value_Measurement_Estimat
Fair Value Measurement, Estimated Fair Values of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and short-term investments | $53,672 | $64,465 |
Securities available for sale | 352 | 363 |
Restricted investments | 0 | 0 |
Net Loans | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
BOLI | 0 | 0 |
Total assets at fair value | 54,024 | 64,828 |
Liabilities [Abstract] | ' | ' |
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Company obligated mandatorily redeemable capital securities | ' | 0 |
Accrued interest payable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and short-term investments | 0 | 0 |
Securities available for sale | 49,308 | 47,404 |
Restricted investments | 1,462 | 2,337 |
Net Loans | 446,990 | 443,045 |
Accrued interest receivable | 1,386 | 1,283 |
Interest rate swaps | 54 | 0 |
BOLI | 12,335 | 12,038 |
Total assets at fair value | 511,535 | 506,107 |
Liabilities [Abstract] | ' | ' |
Deposits | 524,356 | 517,811 |
Borrowings | 13,040 | 28,877 |
Company obligated mandatorily redeemable capital securities | 4,114 | 5,258 |
Accrued interest payable | 223 | 312 |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | 542,078 | 553,099 |
Significant Other Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and short-term investments | 0 | 0 |
Securities available for sale | 440 | 325 |
Restricted investments | 0 | 0 |
Net Loans | 257 | 377 |
Accrued interest receivable | 0 | 0 |
Interest rate swaps | 0 | 0 |
BOLI | 0 | 0 |
Total assets at fair value | 697 | 702 |
Liabilities [Abstract] | ' | ' |
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Company obligated mandatorily redeemable capital securities | ' | 0 |
Accrued interest payable | 0 | 0 |
Interest rate swaps | 0 | 0 |
Total liabilities at fair value | 0 | 0 |
Carrying Amount [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and short-term investments | 53,660 | 64,435 |
Securities available for sale | 50,100 | 48,092 |
Restricted investments | 1,462 | 2,337 |
Net Loans | 448,524 | 445,108 |
Accrued interest receivable | 1,386 | 1,283 |
Interest rate swaps | 54 | 0 |
BOLI | 12,335 | 12,038 |
Total assets at fair value | 567,521 | 573,293 |
Liabilities [Abstract] | ' | ' |
Deposits | 522,803 | 515,134 |
Borrowings | 13,155 | 28,200 |
Company obligated mandatorily redeemable capital securities | 4,124 | 4,124 |
Accrued interest payable | 223 | 312 |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | 540,650 | 548,611 |
Fair Value [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and short-term investments | 53,672 | 64,465 |
Securities available for sale | 50,100 | 48,092 |
Restricted investments | 1,462 | 2,337 |
Net Loans | 447,247 | 443,422 |
Accrued interest receivable | 1,386 | 1,283 |
Interest rate swaps | 54 | 0 |
BOLI | 12,335 | 12,038 |
Total assets at fair value | 566,256 | 571,637 |
Liabilities [Abstract] | ' | ' |
Deposits | 524,356 | 517,811 |
Borrowings | 13,040 | 28,877 |
Company obligated mandatorily redeemable capital securities | 4,114 | 5,258 |
Accrued interest payable | 223 | 312 |
Interest rate swaps | 345 | 841 |
Total liabilities at fair value | $542,078 | $553,099 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||||||||
Gains/(Losses) on Cash Flow Hedges [Member] | Gains/(Losses) on Cash Flow Hedges [Member] | Gains/(Losses) on Cash Flow Hedges [Member] | Gains/(Losses) on Cash Flow Hedges [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | Supplemental Executive Retirement Plans [Member] | Supplemental Executive Retirement Plans [Member] | Supplemental Executive Retirement Plans [Member] | Supplemental Executive Retirement Plans [Member] | |||||||||||||||||||||
Changes In Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||
Beginning balance | ' | ' | ($1,712) | [1] | ($1,317) | [1] | ' | ' | ($361) | [1] | ($180) | [1] | ' | ' | ($1,376) | [1] | ($1,398) | [1] | ' | ' | $47 | [1] | $239 | [1] | ||||||||
Other comprehensive income (loss) before reclassifications | -566 | [1] | -175 | [1] | ' | ' | 166 | [1] | -419 | [1] | ' | ' | -732 | [1] | 244 | [1] | ' | ' | 0 | [1] | 0 | [1] | ' | ' | ||||||||
Amounts reclassified from accumulated other comprehensive income | 0 | [1] | -109 | [1] | ' | ' | 0 | [1] | 0 | [1] | ' | ' | 0 | [1] | ' | -109 | [1] | ' | 0 | [1] | 0 | [1] | ' | ' | ||||||||
Net current-period other comprehensive income | -566 | [1] | -284 | [1] | ' | ' | 166 | [1] | -419 | [1] | ' | ' | -732 | [1] | 135 | [1] | ' | ' | 0 | [1] | 0 | [1] | ' | ' | ||||||||
Ending balance | ($2,278) | [1] | ($1,601) | [1] | ($1,712) | [1] | ($1,317) | [1] | ($195) | [1] | ($599) | [1] | ($361) | [1] | ($180) | [1] | ($2,130) | [1] | ($1,241) | [1] | ($1,241) | [1] | ($1,398) | [1] | $47 | [1] | $239 | [1] | $47 | [1] | $239 | [1] |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income, Reclassification out of AOCI (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 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Tax expense | $418 | $452 | $964 | $627 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Realized gain on sale of securities | 0 | 2 | 0 | 165 |
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 | 0 | 2 | 0 | 165 |
Tax expense | 0 | 1 | 0 | 56 |
Net of tax | $0 | $1 | $0 | $109 |