Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 01, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | PCBK | |
Entity Registrant Name | PACIFIC CONTINENTAL CORP | |
Entity Central Index Key | 1,084,717 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 19,591,703 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
ASSETS | |||
Cash and due from banks | $ 29,812 | $ 20,929 | $ 28,219 |
Interest-bearing deposits with banks | 9,790 | 4,858 | 15,224 |
Total cash and cash equivalents | 39,602 | 25,787 | 43,443 |
Securities available-for-sale | 383,618 | 351,946 | 344,645 |
Loans, less allowance for loan losses and net deferred fees | 1,288,919 | 1,029,384 | 1,014,346 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Property and equipment, net of accumulated depreciation | 17,854 | 17,820 | 18,366 |
Goodwill and intangible assets | 43,225 | 23,495 | 23,555 |
Deferred tax asset | 6,036 | 4,464 | 7,154 |
Taxes receivable | 103 | ||
Other real estate owned | 12,666 | 13,374 | 11,531 |
Bank-owned life insurance | 22,571 | 16,609 | 16,370 |
Other assets | 5,047 | 6,654 | 4,025 |
Total assets | 1,830,942 | 1,504,325 | 1,498,763 |
Deposits | |||
Noninterest-bearing demand | 531,697 | 407,311 | 397,942 |
Savings and interest-bearing checking | 825,858 | 646,101 | 565,265 |
Core time deposits | 87,663 | 57,449 | 63,335 |
Total core deposits | 1,445,218 | 1,110,861 | 1,026,542 |
Other deposits | 68,963 | 98,232 | 106,112 |
Total deposits | 1,514,181 | 1,209,093 | 1,132,654 |
Repurchase agreements | 368 | 93 | |
Federal funds and overnight funds purchased | 5,500 | 0 | 6,410 |
Federal Home Loan Bank borrowings | 84,000 | 96,000 | 164,500 |
Junior subordinated debentures | 8,248 | 8,248 | 8,248 |
Accrued interest and other payables | 6,630 | 6,730 | 4,814 |
Total liabilities | 1,618,927 | 1,320,164 | 1,316,626 |
Shareholders' equity | |||
Common stock, shares authorized: 50,000,000; shares issued and outstanding: 19,591,532 at June 30, 2015, 17,717,676 at December 31, 2014, and 17,848,900 at June 30, 2014 | 155,325 | 131,375 | 132,532 |
Retained earnings | 53,150 | 48,984 | 45,887 |
Accumulated other comprehensive income | 3,540 | 3,802 | 3,718 |
Total shareholders' equity | 212,015 | 184,161 | 182,137 |
Total liabilities and shareholders' equity | $ 1,830,942 | $ 1,504,325 | $ 1,498,763 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - shares | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Statement of Financial Position [Abstract] | |||
Common stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Common stock, shares issued | 19,591,532 | 17,717,676 | 17,848,900 |
Common stock, shares outstanding | 19,591,532 | 17,717,676 | 17,848,900 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and dividend income | ||||
Loans | $ 16,594 | $ 13,514 | $ 30,780 | $ 26,688 |
Taxable securities | 1,736 | 1,614 | 3,112 | 3,146 |
Tax-exempt securities | 499 | 488 | 1,002 | 972 |
Federal funds sold & interest-bearing deposits with banks | 11 | 2 | 16 | 4 |
Total interest and dividend income | 18,840 | 15,618 | 34,910 | 30,810 |
Interest expense | ||||
Deposits | 845 | 821 | 1,655 | 1,627 |
Federal Home Loan Bank & Federal Reserve borrowings | 239 | 280 | 468 | 560 |
Junior subordinated debentures | 56 | 56 | 112 | 112 |
Federal funds purchased | 4 | 4 | 5 | 9 |
Total interest expense | 1,144 | 1,161 | 2,240 | 2,308 |
Net interest income | 17,696 | 14,457 | 32,670 | 28,502 |
Provision for loan losses | 550 | 550 | ||
Net interest income after provision for loan losses | 17,146 | 14,457 | 32,120 | 28,502 |
Noninterest income | ||||
Service charges on deposit accounts | 661 | 540 | 1,236 | 1,058 |
Bankcard income | 214 | 229 | 411 | 446 |
Bank-owned life insurance income | 170 | 117 | 279 | 234 |
Net gain (loss)on sale of investment securities | 139 | (100) | 192 | (36) |
Impairment losses on investment securities (OTTI) | (13) | (13) | ||
Other noninterest income | 456 | 370 | 798 | 778 |
Total noninterest income | 1,627 | 1,156 | 2,903 | 2,480 |
Noninterest expense | ||||
Salaries and employee benefits | 6,992 | 6,093 | 13,401 | 11,912 |
Property and equipment | 1,094 | 924 | 2,073 | 1,867 |
Data processing | 821 | 693 | 1,505 | 1,362 |
Legal and professional services | 491 | 251 | 890 | 739 |
Business development | 411 | 340 | 765 | 715 |
FDIC insurance assessment | 273 | 217 | 486 | 437 |
Other real estate (income) expense | (60) | 16 | 181 | 239 |
Merger related expense | 1,836 | |||
Other noninterest expense | 1,008 | 735 | 1,867 | 1,511 |
Total noninterest expense | 11,030 | 9,269 | 23,004 | 18,782 |
Income before provision for income taxes | 7,743 | 6,344 | 12,019 | 12,200 |
Provision for income taxes | 2,648 | 2,196 | 4,122 | 4,220 |
Net income | $ 5,095 | $ 4,148 | $ 7,897 | $ 7,980 |
Earnings per share | ||||
Basic | $ 0.26 | $ 0.23 | $ 0.42 | $ 0.45 |
Diluted | $ 0.26 | $ 0.23 | $ 0.41 | $ 0.44 |
Weighted average shares outstanding | ||||
Basic | 19,562,363 | 17,889,562 | 18,900,895 | 17,893,555 |
Common stock equivalents attributable to stock-based awards | 226,521 | 229,850 | 227,090 | 236,278 |
Diluted | 19,788,885 | 18,119,412 | 19,127,985 | 18,129,833 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 5,095 | $ 4,148 | $ 7,897 | $ 7,980 |
Available-for-sale securities: | ||||
Unrealized (loss) gain arising during the period | (2,874) | 3,475 | (191) | 6,082 |
Reclassification adjustment for (gains) losses realized in net income | (139) | 100 | (192) | 36 |
Reclassification adjustment for impairment losses (OTTI) realized in net income | 13 | 13 | ||
Income tax effects | 1,170 | (1,394) | 144 | (2,385) |
Derivative agreements-cash flow hedge | ||||
Unrealized gain (loss) arising during the period | 64 | (107) | (59) | (187) |
Income tax effects | (25) | 42 | 23 | 73 |
Total other comprehensive (loss) income, net of tax | (1,791) | 2,116 | (262) | 3,619 |
Total comprehensive income | $ 3,304 | $ 6,264 | $ 7,635 | $ 11,599 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Balance at Dec. 31, 2013 | $ 179,184 | $ 133,835 | $ 45,250 | $ 99 |
Balance, shares at Dec. 31, 2013 | 17,891,687 | |||
Net income | 7,980 | |||
Other comprehensive income, net of tax | 3,619 | |||
Balance at Jun. 30, 2014 | 182,137 | |||
Balance at Dec. 31, 2013 | 179,184 | $ 133,835 | 45,250 | 99 |
Balance, shares at Dec. 31, 2013 | 17,891,687 | |||
Net income | 16,042 | 16,042 | ||
Other comprehensive income, net of tax | 3,703 | 3,703 | ||
Stock issuance and related tax benefit | 203 | $ 203 | ||
Stock issuance and related tax benefit, shares | 93,069 | |||
Stock repurchase | (3,600) | $ (3,600) | ||
Stock repurchased, shares | (267,080) | |||
Share-based compensation expense | 1,454 | $ 1,454 | ||
Vested employee RSUs and SARs surrendered to cover tax consequences | (517) | (517) | ||
Cash dividends | (12,308) | (12,308) | ||
Balance at Dec. 31, 2014 | 184,161 | $ 131,375 | 48,984 | 3,802 |
Balance, shares at Dec. 31, 2014 | 17,717,676 | |||
Net income | 7,897 | 7,897 | ||
Other comprehensive income, net of tax | (262) | (262) | ||
Stock option exercise | 13 | $ 13 | ||
Stock option exercise, shares | 1,102 | |||
Stock issuance | 23,578 | $ 23,578 | ||
Stock issuance, shares | 1,872,754 | |||
Share-based compensation expense | 956 | $ 956 | ||
Vested employee RSUs and SARs surrendered to cover tax consequences | (597) | (597) | ||
Cash dividends | (3,731) | (3,731) | ||
Balance at Jun. 30, 2015 | $ 212,015 | $ 155,325 | $ 53,150 | $ 3,540 |
Balance, shares at Jun. 30, 2015 | 19,591,532 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net income | $ 7,897 | $ 7,980 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation and amortization, net of accretion | 3,678 | 3,474 |
Deferred income taxes | 133 | |
BOLI income | (279) | (234) |
Share-based compensation | 906 | 870 |
Provision for loan losses | 550 | |
(Gain) loss on sale of investment securities | (192) | 36 |
Valuation adjustment on foreclosed assets | 52 | |
Gain on sale from foreclosed assets | (25) | (7) |
Other than temporary impairment on investment securities | 13 | |
Excess tax benefit of stock options exercised | 14 | |
Change in: | ||
Interest receivable | (513) | (398) |
Deferred loan fees | 225 | 184 |
Accrued interest payable and other liabilities | 1,019 | (1,406) |
Income taxes receivable | 553 | 80 |
Other assets | (661) | (656) |
Net cash provided by operating activities | 13,223 | 10,070 |
Cash flows from investing activities: | ||
Proceeds from maturities and sales of available-for-sale investment securities | 40,935 | 49,692 |
Purchase of available-for-sale investment securities | (49,579) | (43,539) |
Net loan principal originations | (57,023) | (36,602) |
Net purchase of property and equipment | (552) | (275) |
Proceeds on sale of foreclosed assets | 1,645 | 4,831 |
Redemption of Federal Home Loan Bank stock | 5,178 | 198 |
Cash consideration paid, net of cash acquired in merger | (3,249) | |
Net cash used by investing activities | (62,645) | (25,695) |
Cash flows from financing activities: | ||
Change in deposits | 77,121 | 41,674 |
Change in repurchase agreements | 275 | |
Change in federal funds purchased and Federal Home Loan Bank short-term borrowings | (6,500) | 5,760 |
Proceeds from stock options exercised | 13 | 189 |
Excess tax benefit from stock options exercised | (14) | |
Redemption of Capital Pacific Bell State Bank Debt | (3,344) | |
Dividends paid | (3,731) | (7,343) |
Repurchase of common stock | (1,800) | |
Vested SARs and RSUs surrendered by employee to cover tax consequence | (597) | (506) |
Net cash provided by financing activities | 63,237 | 37,960 |
Net change in cash and cash equivalents | 13,815 | 22,335 |
Cash and cash equivalents, beginning of period | 25,787 | 21,108 |
Cash and cash equivalents, end of period | 39,602 | 43,443 |
Noncash investing and financing activities: | ||
Transfer of loans to foreclosed assets | 964 | |
Change in fair value of securities, net of deferred income taxes | (226) | 3,733 |
Change in fair value of cash flow hedge, net of deferred income taxes | (36) | (114) |
Acquisitions: | ||
Assets acquired | 259,482 | |
Liabilities assumed | 235,904 | |
Cash paid during the period for: | ||
Income taxes | 788 | 4,195 |
Interest | $ 2,134 | $ 2,274 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1 - BASIS OF PRESENTATION The accompanying interim consolidated financial statements include the accounts of Pacific Continental Corporation (the “Company”), a bank holding company, and its wholly owned subsidiary, Pacific Continental Bank (the “Bank”), and the Bank’s wholly owned subsidiaries, PCB Services Corporation and PCB Loan Services Corporation (both of which are presently inactive). All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared by the Company without audit and in conformity with generally accepted accounting principles in the United States of America for interim financial information. The consolidated financial statements include all adjustments and normal accruals, which the Company considers necessary for a fair presentation of the results of operations for such interim periods. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, as of the date of the balance sheets and income and expenses for the periods. Actual results could differ from those estimates. The balance sheet data as of December 31, 2014, was derived from audited consolidated financial statements, but does not include all disclosures contained in the Company’s 2014 Form 10-K. The interim consolidated financial statements should be read in conjunction with the December 31, 2014, consolidated financial statements, including the notes thereto, included in the Company’s 2014 Form 10-K. |
Securities Available-for-Sale
Securities Available-for-Sale | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available-for-Sale | NOTE 2 – SECURITIES AVAILABLE-FOR-SALE The amortized cost and estimated fair values of securities available-for-sale at June 30, 2015, were as follows: Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Unrealized Loss Positions Obligations of U.S. government agencies $ 10,991 $ — $ (142 ) $ 10,849 Obligations of states and political subdivisions 25,658 — (475 ) 25,183 Private-label mortgage-backed securities 484 — (39 ) 445 Mortgage-backed securities 37,982 — (238 ) 37,744 SBA pools 10,178 — (56 ) 10,122 $ 85,293 $ — $ (950 ) $ 84,343 Unrealized Gain Positions Obligations of U.S. government agencies $ 44,093 $ 854 $ — $ 44,947 Obligations of states and political subdivisions 59,639 2,565 — 62,204 Private-label mortgage-backed securities 2,738 151 — 2,889 Mortgage-backed securities 161,415 2,955 — 164,370 SBA pools 23,855 112 — 23,967 Corporate bonds 898 — — 898 $ 292,638 $ 6,637 $ — $ 299,275 $ 377,931 $ 6,637 $ (950 ) $ 383,618 At June 30, 2015, of the 446 investment securities held, there were 82 in unrealized loss positions. Unrealized losses existed on certain securities classified as obligations of U.S. government agencies, obligations of state and political subdivisions, private-label The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2015: Securities in Continuous Unrealized Loss Position for Less Than 12 Months Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months Securities in Continuous Unrealized Loss Position for 12 Months or Longer Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 9,367 $ 124 $ 1,482 $ 18 Obligations of states and political subdivisions 22,229 350 2,954 125 Private-label mortgage-backed securities — — 445 39 Mortgage-backed securities 32,020 144 5,724 94 SBA pools 9,300 55 822 1 $ 72,916 $ 673 $ 11,427 $ 277 During the second quarter 2015, management reviewed all private label mortgage-backed securities for the presence of other-than-temporary impairment (“OTTI”) and recorded $13 in OTTI on one security. Management’s OTTI evaluation included the use of independently generated third-party credit surveillance reports that analyze the credit characteristics of the loans underlying each security. These reports include estimates of default rates and severities, life collateral loss rates, and static voluntary prepayment assumptions to generate estimated cash flows at the individual security level. Additionally, management considered factors such as downgraded credit ratings, severity and duration of the impairments, the stability of the issuers, and any discounts paid when the securities were purchased. Management has considered all available information related to the collectability of the impaired investment securities and believes that the estimated credit loss is appropriate. Following is a tabular roll-forward of the aggregate amount of credit-related OTTI at the beginning and end of the periods presented along with the amounts recognized in earnings during the three and six months ended June 30, 2015, and 2014: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance, beginning of period: $ 227 $ 227 $ 227 $ 227 Additions: Initial OTTI credit loss 13 — 13 — Balance, end of period: $ 240 $ 227 $ 240 $ 227 At June 30, 2015, six of the Company’s private-label mortgage-backed securities with an amortized cost of $1,702 were classified as substandard as their underlying credit was considered impaired. Securities with an amortized cost of $1,879 and $2,050 were classified as substandard at December 31, 2014, and June 30, 2014, respectively. At June 30, 2015, the projected average life of the securities portfolio was 4.16 years. The amortized cost and estimated fair values of securities available-for-sale at December 31, 2014, were as follows: Amortized Gross Gross Estimated Unrealized Loss Positions Obligations of U.S. government agencies $ 7,573 $ — $ (72 ) $ 7,501 Obligations of states and political subdivisions 11,755 — (253 ) 11,502 Private-label mortgage-backed securities 847 — (64 ) 783 Mortgage-backed securities 64,644 — (544 ) 64,100 SBA pools 13,059 — (56 ) 13,003 $ 97,878 $ — $ (989 ) $ 96,889 Unrealized Gain Positions Obligations of U.S. government agencies $ 31,068 $ 616 $ — $ 31,684 Obligations of states and political subdivisions 69,172 3,307 — 72,479 Private-label mortgage-backed securities 2,924 109 — 3,033 Mortgage-backed securities 138,306 2,984 — 141,290 SBA pools 6,541 30 — 6,571 $ 248,011 $ 7,046 $ — $ 255,057 $ 345,889 $ 7,046 $ (989 ) $ 351,946 At December 31, 2014, of the 409 investment securities held, there were 71 in unrealized loss positions. The following table presents a summary of securities in a continuous unrealized loss position at December 31, 2014: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 4,564 $ 10 $ 2,936 $ 62 Obligations of states and political subdivisions 2,620 39 8,883 214 Private-label mortgage-backed securities 303 12 480 52 Mortgage-backed securities 40,269 177 23,831 367 SBA pools 11,833 49 1,169 7 $ 59,589 $ 287 $ 37,299 $ 702 The amortized cost and estimated fair values of securities available-for-sale at June 30, 2014, were as follows: Amortized Gross Gross Estimated Value Unrealized Loss Positions Obligations of U.S. government agencies $ 2,998 $ — $ (45 ) $ 2,953 Obligations of states and political subdivisions 23,272 — (586 ) 22,686 Private-label mortgage-backed securities 1,246 — (64 ) 1,182 Mortgage-backed securities 43,063 — (480 ) 42,583 SBA pools 5,230 — (40 ) 5,190 $ 75,809 $ — $ (1,215 ) $ 74,594 Unrealized Gain Positions Obligations of U.S. government agencies $ 33,645 $ 565 $ — $ 34,210 Obligations of states and political subdivisions 56,275 2,719 — 58,994 Private-label mortgage-backed securities 3,154 107 — 3,261 Mortgage-backed securities 166,464 3,672 — 170,136 SBA pools 3,422 28 — 3,450 $ 262,960 $ 7,091 $ — $ 270,051 $ 338,769 $ 7,091 $ (1,215 ) $ 344,645 At June 30, 2014, of the 392 investments held, there were 81 investment securities in unrealized loss positions. The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2014: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ — $ — $ 2,953 $ 45 Obligations of states and political subdivisions 5,515 24 17,171 562 Private-label mortgage-backed securities 329 3 854 61 Mortgage-backed securities 8,305 27 34,278 453 SBA pools 5,189 40 — — $ 19,338 $ 94 $ 55,256 $ 1,121 The amortized cost and estimated fair value of securities at June 30, 2015, by maturity, are shown below. Obligations of U.S. government agencies, states and political subdivisions and corporate bonds are shown by contractual maturity. Mortgage-backed securities and SBA variable pools are shown by projected average life. June 30, 2015 Amortized Estimated Value Due in one year or less $ 11,439 $ 11,554 Due after one year through 5 years 224,645 227,738 Due after 5 years through 10 years 108,956 111,045 Due after 10 years 32,891 33,281 $ 377,931 $ 383,618 Thirteen securities were sold during the second quarter 2015 for a total book value of $7,574 and a gain of $139. The sold securities included three mortgage-backed securities and ten obligations of states and political subdivisions. During second quarter 2014, the Company sold one private-label mortgage-backed security with a book value of $238 for a loss of $100. The following table presents investment securities which were pledged to secure public deposits, and repurchase agreements as permitted or required by law: June 30, 2015 December 31, 2014 June 30, 2014 Amortized Estimated Amortized Estimated Amortized Estimated Pledged to secure public deposits $ 30,048 $ 30,777 $ 31,937 $ 32,802 $ 23,123 $ 23,416 Pledged to secure repurchase agreements 12,912 13,237 3,976 4,062 2,474 2,548 $ 42,960 $ 44,014 $ 35,913 $ 36,864 $ 25,597 $ 25,964 At June 30, 2015, December 31, 2014 and June 30, 2014, there was an outstanding balance of $368, $93 and $0, respectively for repurchase agreements. |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses, and Credit Quality Indicators | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans, Allowance for Loan Losses, and Credit Quality Indicators | NOTE 3 - LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY INDICATORS Loans are stated at the amount of unpaid principal net of loan premiums or discounts for purchased loans, net of deferred loan origination fees, discounts associated with retained portions of loans sold, and an allowance for loan losses. Interest on loans is calculated using the simple-interest method on daily balances of the principal amount outstanding. Loan origination fees, net of origination costs and discounts, are amortized over the lives of the loans as adjustments to yield. Major classifications of period-end loans are as follows: June 30, % of Gross December 31, % of Gross June 30, % of Gross 2015 Loans 2014 Loans 2014 Loans Real estate loans Multi-family residential $ 68,289 5.23 % $ 51,586 4.93 % $ 50,867 4.93 % Residential 1-4 family 57,112 4.37 % 47,222 4.51 % 46,287 4.49 % Owner-occupied commercial 346,065 26.50 % 259,805 24.84 % 255,562 24.78 % Nonowner-occupied commercial 275,077 21.06 % 201,558 19.27 % 182,141 17.66 % Total permanent real estate loans 746,543 57.16 % 560,171 53.55 % 534,857 51.86 % Construction loans Multi-family residential 6,590 0.50 % 8,472 0.81 % 19,539 1.89 % Residential 1-4 family 30,145 2.31 % 28,109 2.69 % 33,951 3.29 % Commercial real estate 31,659 2.42 % 18,595 1.78 % 28,019 2.72 % Commercial bare land and acquisition & development 15,870 1.22 % 12,159 1.16 % 11,096 1.08 % Residential bare land and acquisition & development 7,074 0.54 % 6,632 0.63 % 6,240 0.61 % Total construction real estate loans 91,338 6.99 % 73,967 7.07 % 98,845 9.59 % Total real estate loans 837,881 64.15 % 634,138 60.62 % 633,702 61.45 % Commercial loans 459,458 35.18 % 406,568 38.87 % 392,810 38.10 % Consumer loans 3,783 0.29 % 3,862 0.37 % 3,410 0.33 % Other loans 5,025 0.38 % 1,443 0.14 % 1,207 0.12 % Gross loans 1,306,147 100.00 % 1,046,011 100.00 % 1,031,129 100.00 % Deferred loan origination fees (1,215 ) (990 ) (1,108 ) 1,304,932 1,045,021 1,030,021 Allowance for loan losses (16,013 ) (15,637 ) (15,675 ) Total loans, net of allowance for loan losses and net deferred fees $ 1,288,919 $ 1,029,384 $ 1,014,346 At June 30, 2015, outstanding loans to dental professionals totaled $321,055 and represented 24.58% of total outstanding loans, compared to dental professional loans of $306,391 or 29.29% of total outstanding loans at December 31, 2014, and $302,822 or 29.37% of total outstanding loans at June 30, 2014. See Note 4 for additional information on the dental loan portfolio. There are no other industry concentrations in excess of 10% of the total loan portfolio. However, as of June 30, 2015, 64.15% of the Company’s loan portfolio was collateralized by real estate and is, therefore, susceptible to changes in real estate market conditions. Allowance for Loan Losses A summary of activity in the allowance for loan losses for the three and six months ended June 30, 2015, and 2014 is as follows: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance, beginning of period $ 15,724 $ 15,394 $ 15,637 $ 15,917 Provision charged to income 550 — 550 — Loans charged against allowance (454 ) (30 ) (527 ) (631 ) Recoveries credited to allowance 193 311 353 389 Balance, end of period $ 16,013 $ 15,675 $ 16,013 $ 15,675 The allowance for loan losses is established as an amount that management considers adequate to absorb possible losses on existing loans within the portfolio. The allowance consists of general, specific, and unallocated components. The general component is based upon all loans collectively evaluated for impairment. The specific component is based upon all loans individually evaluated for impairment. The unallocated component represents credit losses inherent in the loan portfolio that may not have been contemplated in the general risk factors or the specific allowance analysis. Loans are charged against the allowance when management believes the collection of principal or interest is unlikely. The Company performs regular credit reviews of the loan portfolio to determine the credit quality and adherence to underwriting standards. When loans are originated, they are assigned a risk rating that is reassessed periodically during the term of the loan through the credit review process and on an ongoing basis by management. The Company’s internal risk rating methodology assigns risk ratings ranging from one to ten, where a higher rating represents higher risk. The ten-point risk rating categories are a primary factor in determining an appropriate amount for the allowance for loan losses. Estimated credit losses reflect consideration of all significant factors that affect the collectability of the loan portfolio. The historical loss rate for each group of loans with similar risk characteristics is determined based on the Company’s own loss experience in that group. Historical loss experience and recent trends in losses provide a reasonable starting point for analysis, however they do not by themselves form a sufficient basis to determine the appropriate level for the allowance for loan losses. Qualitative or environmental factors that are likely to cause estimated credit losses to differ from historical losses are also considered, including but not limited to: • Changes in international, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments, • Changes in the nature and volume of the portfolio and in the terms of loans, • Changes in the experience, ability, and depth of lending management and other relevant staff, • Changes in the volume and severity of past due loans, the volume of nonaccrual loans, and the volume and severity of adversely classified or graded loans, • Changes in the quality of the institution’s loan review system, • Changes in the value of underlying collateral for collateral-dependent loans, • The existence and effect of any concentrations of credit, and changes in the level of such concentrations, • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio, • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses, and • Changes in the current and future US political environment, including debt ceiling negotiations, government shutdown and healthcare reform, that may affect national, regional and local economic conditions, taxation, or disruption of national or global financial markets. The adequacy of the allowance for loan losses and the reserve for unfunded commitments is determined using a systematic methodology and is monitored regularly based on management’s evaluation of numerous factors. For each portfolio segment, these factors include: • The quality of the current loan portfolio, • The trend in the migration of the loan portfolio’s risk ratings, • The velocity of migration of losses and potential losses, • Current economic conditions, • Loan concentrations, • Loan growth rates, • Past-due and nonperforming trends, • Evaluation of specific loss estimates for all significant problem loans, • Recovery experience, and • Peer comparison loss rates. A summary of the activity in the allowance for loan losses by major loan classification follows: For the three months ended June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 5,550 $ 7,537 $ 1,062 $ 52 $ 1,523 $ 15,724 Charge-offs (454 ) — — — — (454 ) Recoveries 183 3 3 4 — 193 Provision (reclassification) 622 124 46 (4 ) (238 ) 550 Ending balance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 For the six months ended June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 5,733 $ 7,494 $ 1,077 $ 54 $ 1,279 $ 15,637 Charge-offs (485 ) (42 ) — — — (527 ) Recoveries 287 48 8 10 — 353 Provision (reclassification) 366 164 26 (12 ) 6 550 Ending balance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 At June 30, 2015, the allowance for loan losses on dental loans was $4,080 compared to $4,141 at December 31, 2014 and $4,136 at June 30, 2014. See Note 4 for additional information on the dental loan portfolio. Balances as of June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,847 $ 7,610 $ 1,002 $ 52 $ 1,285 $ 15,796 Ending allowance: individually evaluated for impairment 54 54 109 — — 217 Total ending allowance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 Ending loan balance: collectively evaluated for impairment $ 462,287 $ 740,753 $ 90,991 $ 3,783 $ — $ 1,297,814 Ending loan balance: individually evaluated for impairment 2,196 5,790 347 — — 8,333 Total ending loan balance $ 464,483 $ 746,543 $ 91,338 $ 3,783 $ — $ 1,306,147 Balances as of December 31, 2014 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,662 $ 7,438 $ 959 $ 54 $ 1,279 $ 15,392 Ending allowance: individually evaluated for impairment 71 56 118 — — 245 Total ending allowance $ 5,733 $ 7,494 $ 1,077 $ 54 $ 1,279 $ 15,637 Ending loan balance: collectively evaluated for impairment $ 405,414 $ 555,146 $ 73,610 $ 3,862 $ — $ 1,038,032 Ending loan balance: individually evaluated for impairment 2,597 5,025 357 — — 7,979 Total ending loan balance $ 408,011 $ 560,171 $ 73,967 $ 3,862 $ — $ 1,046,011 Balances as of June 30, 2014 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,580 $ 7,423 $ 1,219 $ 59 $ 1,251 $ 15,532 Ending allowance: individually evaluated for impairment 16 6 121 — — 143 Total ending allowance $ 5,596 $ 7,429 $ 1,340 $ 59 $ 1,251 $ 15,675 Ending loan balance: collectively evaluated for impairment $ 389,823 $ 528,734 $ 98,480 $ 3,410 $ — $ 1,020,447 Ending loan balance: individually evaluated for impairment 4,194 6,123 365 — — 10,682 Total ending loan balance $ 394,017 $ 534,857 $ 98,845 $ 3,410 $ — $ 1,031,129 Management believes that the allowance for loan losses was adequate as of June 30, 2015. However, future loan losses may exceed the levels provided for in the allowance for loan losses and could possibly result in additional charges to the provision for loan losses. Credit Quality Indicators The Company uses the following loan grades, which are also often used by regulators when assessing the credit quality of a loan portfolio. Pass Special Mention Substandard Doubtful Management strives to consistently apply these definitions when allocating its loans by loan grade. The loan portfolio is continuously monitored for changes in credit quality and management takes appropriate action to update the loan risk ratings accordingly. Management has not changed the Company’s policy towards its use of credit quality indicators during the periods reported. The following tables present the Company’s loan portfolio information by loan type and credit grade at June 30, 2015, December 31, 2014, and June 30, 2014: Credit Quality Indicators As of June 30, 2015 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 66,793 $ — $ 1,496 $ — $ 68,289 Residential 1-4 family 49,551 — 7,561 — 57,112 Owner-occupied commercial 334,002 — 12,063 — 346,065 Nonowner-occupied commercial 270,739 — 4,338 — 275,077 Total real estate loans 721,085 — 25,458 — 746,543 Construction Multi-family residential 6,590 — — — 6,590 Residential 1-4 family 30,073 — 72 — 30,145 Commercial real estate 30,512 — 1,147 — 31,659 Commercial bare land and acquisition & development 15,586 — 284 — 15,870 Residential bare land and acquisition & development 6,592 — 482 — 7,074 Total construction loans 89,353 — 1,985 — 91,338 Commercial and other 450,918 — 13,565 — 464,483 Consumer 3,782 — 1 — 3,783 Totals $ 1,265,138 $ — $ 41,009 $ — $ 1,306,147 Credit Quality Indicators As of December 31, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 50,074 $ — $ 1,512 $ — $ 51,586 Residential 1-4 family 39,527 — 7,695 — 47,222 Owner-occupied commercial 254,166 — 5,639 — 259,805 Nonowner-occupied commercial 197,940 — 3,618 — 201,558 Total real estate loans 541,707 — 18,464 — 560,171 Construction Multi-family residential 8,472 — — — 8,472 Residential 1-4 family 28,109 — — — 28,109 Commercial real estate 17,645 — 950 — 18,595 Commercial bare land and acquisition & development 11,917 — 242 — 12,159 Residential bare land and acquisition & development 5,954 — 678 — 6,632 Total construction loans 72,097 — 1,870 — 73,967 Commercial and other 395,918 — 12,093 — 408,011 Consumer 3,854 — 8 — 3,862 Totals $ 1,013,576 $ — $ 32,435 $ — $ 1,046,011 Credit Quality Indicators As of June 30, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 49,341 $ — $ 1,526 $ — $ 50,867 Residential 1-4 family 38,453 — 7,834 — 46,287 Owner-occupied commercial 244,255 4,219 7,088 — 255,562 Nonowner-occupied commercial 178,168 — 3,973 — 182,141 Total real estate loans 510,217 4,219 20,421 — 534,857 Construction Multi-family residential 19,539 — — — 19,539 Residential 1-4 family 33,951 — — — 33,951 Commercial real estate 28,019 — — — 28,019 Commercial bare land and acquisition & development 10,866 — 230 — 11,096 Residential bare land and acquisition & development 5,487 — 753 — 6,240 Total construction loans 97,862 — 983 — 98,845 Commercial and other 380,601 — 13,416 — 394,017 Consumer 3,398 — 12 — 3,410 Totals $ 992,078 $ 4,219 $ 34,832 $ — $ 1,031,129 At June 30, 2015, December 31, 2014, and June 30, 2014, the Company had $1,077, $562 and $417, respectively, in unfunded commitments on its classified loans, which is included in the calculation of our classified asset ratio. Past Due and Nonaccrual Loans The Company uses the terms “past due” and “delinquent” interchangeably. Amortizing loans are considered past due or delinquent based upon the number of contractually required payments not made. Delinquency status for all contractually matured loans, commercial and commercial real estate loans with non-monthly amortization, and all other extensions of credit is determined based upon the number of calendar months past due. The following tables present an aging analysis of past due and nonaccrual loans at June 30, 2015, December 31, 2014, and June 30, 2014: Age Analysis of Loans Receivable As of June 30, 2015 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 68,289 $ 68,289 Residential 1-4 family 173 — — 688 861 56,251 57,112 Owner-occupied commercial 1,278 338 — 1,117 2,733 343,332 346,065 Nonowner-occupied commercial — — — 878 878 274,199 275,077 Total real estate loans 1,451 338 — 2,683 4,472 742,071 746,543 Construction Multi-family residential — — — — — 6,590 6,590 Residential 1-4 family — — — — — 30,145 30,145 Commercial real estate — — — — — 31,659 31,659 Commercial bare land and acquisition & development — — — — — 15,870 15,870 Residential bare land and acquisition & development — — — — — 7,074 7,074 Total construction loans — — — — — 91,338 91,338 Commercial and other 686 — — 955 1,641 462,842 464,483 Consumer 6 — — — 6 3,777 3,783 Total $ 2,143 $ 338 $ — $ 3,638 $ 6,119 $ 1,300,028 $ 1,306,147 Age Analysis of Loans Receivable As of December 31, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — — $ — $ — $ — $ 51,586 $ 51,586 Residential 1-4 family 568 — — 321 889 46,333 47,222 Owner-occupied commercial — — — 599 599 259,206 259,805 Nonowner-occupied commercial 605 — — 906 1,511 200,047 201,558 Total real estate loans 1,173 — — 1,826 2,999 557,172 560,171 Construction Multi-family residential — — — — — 8,472 8,472 Residential 1-4 family — — — — — 28,109 28,109 Commercial real estate — — — — — 18,595 18,595 Commercial bare land and acquisition & development — — — — — 12,159 12,159 Residential bare land and acquisition & development — — — — — 6,632 6,632 Total construction loans — — — — — 73,967 73,967 Commercial and other 327 — — 869 1,196 406,815 408,011 Consumer 4 1 — — 5 3,857 3,862 Total $ 1,504 $ 1 $ — $ 2,695 $ 4,200 $ 1,041,811 $ 1,046,011 Age Analysis of Loans Receivable As of June 30, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 50,867 $ 50,867 Residential 1-4 family — — — 473 473 45,814 46,287 Owner-occupied commercial — — — 1,703 1,703 253,859 255,562 Nonowner-occupied commercial 38 520 — 708 1,266 180,875 182,141 Total real estate loans 38 520 — 2,884 3,442 531,415 534,857 Construction Multi-family residential — — — — — 19,539 19,539 Residential 1-4 family — — — — — 33,951 33,951 Commercial real estate — — — — — 28,019 28,019 Commercial bare land and acquisition & development — — — — — 11,096 11,096 Residential bare land and acquisition & development — — — — — 6,240 6,240 Total construction loans — — — — — 98,845 98,845 Commercial and other — 247 — 2,047 2,294 391,723 394,017 Consumer 9 — — — 9 3,401 3,410 Total $ 47 $ 767 $ — $ 4,931 $ 5,745 $ 1,025,384 $ 1,031,129 Impaired Loans Regular credit reviews of the portfolio are performed to identify loans that are considered potentially impaired. A loan is considered impaired when, based on current information and events, the Company is unlikely to collect all principal and interest due according to the terms of the loan agreement. When the amount of the impairment represents a confirmed loss, it is charged off against the allowance for loan losses. Impaired loans are often reported net of government guarantees to the extent that the guarantees are expected to be collected. Impaired loans generally include all loans classified as nonaccrual and troubled debt restructurings. Impaired loans are included in the specific calculation of allowance for loan losses. Accrual of interest is discontinued on impaired loans when management believes that, after considering economic and business conditions and collection efforts, the borrower’s financial condition is such that collection of principal or interest is doubtful. Accrued but uncollected interest is generally reversed when loans are placed on nonaccrual status. Interest income is subsequently recognized only to the extent cash payments are received satisfying all delinquent principal and interest amounts, and the prospects for future payments in accordance with the loan agreement appear relatively certain. In accordance with GAAP, payments received on nonaccrual loans are applied to the principal balance and no interest income is recognized. Interest income may be recognized on impaired loans that are not on nonaccrual status. The following tables display an analysis of the Company’s impaired loans at June 30, 2015, December 31, 2014, and June 30, 2014: Impaired Loan Analysis As of June 30, 2015 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 878 312 1,190 1,702 1,155 8 Owner-occupied commercial 2,144 — 2,144 2,430 1,983 — Nonowner-occupied commercial 2,410 46 2,456 2,552 2,469 46 Total real estate loans 5,432 358 5,790 6,684 5,607 54 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — 28 — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 347 347 347 351 109 Total construction loans — 347 347 347 379 109 Commercial and other 1,176 1,020 2,196 2,559 2,456 54 Consumer — — — — — — Total impaired loans $ 6,608 $ 1,725 $ 8,333 $ 9,590 $ 8,442 $ 217 Impaired Loan Analysis As of December 31, 2014 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 564 313 877 1,181 1,123 2 Owner-occupied commercial 1,645 — 1,645 1,878 2,372 — Nonowner-occupied commercial 2,449 54 2,503 2,523 1,927 54 Total real estate loans 4,658 367 5,025 5,582 5,422 56 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 357 357 357 365 118 Total construction loans — 357 357 357 365 118 Commercial and other 2,025 572 2,597 2,946 3,924 71 Consumer — — — — — — Total impaired loans $ 6,683 $ 1,296 $ 7,979 $ 8,885 $ 9,711 $ 245 Impaired Loan Analysis As of June 30, 2014 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 730 316 1,046 1,373 1,254 4 Owner-occupied commercial 2,601 166 2,767 3,001 2,769 2 Nonowner-occupied commercial 2,310 — 2,310 2,317 1,078 — Total real estate loans 5,641 482 6,123 6,691 5,101 6 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 365 365 365 372 121 Total construction loans — 365 365 365 372 121 Commercial and other 3,672 522 4,194 9,333 4,926 16 Consumer — — — — — — Total impaired loans $ 9,313 $ 1,369 $ 10,682 $ 16,389 $ 10,399 $ 143 The impaired balances reported above are not adjusted for government guarantees of $1,539, $1,123, and $1,151 at June 30, 2015, December 31, 2014, and June 30, 2014, respectively. The recorded investment in impaired loans, net of government guarantees, totaled $6,794, $6,856 and $9,531 at June 30, 2015, December 31, 2014, and June 30, 2014, respectively. Troubled Debt Restructurings In the normal course of business, the Company may modify the terms of certain loans, attempting to protect as much of its investment as possible. Management evaluates the circumstances surrounding each modification to determine whether it is a troubled debt restructuring (“TDR”). TDRs exist when 1) the restructuring constitutes a concession, and 2) the debtor is experiencing financial difficulties. The following table displays the Company’s TDRs by class at June 30, 2015, December 31, 2014, and June 30, 2014: June 30, 2015 Troubled Debt Restructurings as of June 30, 2014 Number of Post-Modification Outstanding Recorded Number of Contracts Post-Modification Number of Contracts Post-Modification Real estate Multifamily residential — $ — — $ — — $ — Residential 1-4 family 6 701 7 768 7 795 Owner-occupied commercial 2 1,027 2 1,046 5 1,988 Non owner-occupied commercial 7 2,408 7 2,503 3 2,309 Total real estate loans 15 4,136 16 4,317 15 5,092 Construction Multifamily residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — — — — — — Total construction loans — — — — — — Commercial and other 11 1,941 12 2,259 11 2,553 Consumer — — — — — — Total 26 $ 6,077 28 $ 6,576 26 $ 7,645 The recorded investment in TDRs on nonaccrual status totaled $1,730, $1,649, and $2,260 at June 30, 2015, December 31, 2014, and June 30, 2014, respectively. The Company’s policy is that loans placed on nonaccrual will typically remain on nonaccrual status until all principal and interest payments are brought current and the prospect for future payment in accordance with the loan agreement appears relatively certain. The Company’s policy generally refers to six months of payment performance as sufficient to warrant a return to accrual status. For the six months ended June 30, 2015, the Company identified no TDRs that were newly considered impaired for which impairment was previously measured under the Company’s general loan loss allowance methodology. The types of modifications offered can generally be described in the following categories: Rate Modification - Term Modification - Interest-only Modification - Combination Modification - There were no newly restructured loans identified in the six months ended June 30, 2015. Below is a table of the newly restructured loans identified in the six months ended June 30, 2014. Troubled Debt Restructurings Identified During the Six Months ended June 30, 2014 Rate Modification Term Modification Interest-only Modification Combination Modification Real estate Multi-family residential $ — $ — $ — $ — Residential 1-4 family — — — — Owner-occupied commercial — — — — Nonowner-occupied commercial — 1,601 — — Total real estate loans — 1,601 — — Construction Multi-family residential — — — — Residential 1-4 family — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other — 280 574 — Consumer — — — — Total $ — $ 1,881 $ 574 $ — Subsequent to a loan being classified as a TDR, a borrower may become unwilling or unable to abide by the terms of the modified agreement. In such cases of default, the Company takes appropriate action to recover principal and interest payments including the use of foreclosure proceedings. There were no TDRs that subsequently defaulted within the first twelve months of restructure during the periods ended June 30, 2015 and 2014. At June 30, 2015, December 31, 2014, and June 30, 2014, the Company had no commitments to lend additional funds on loans restructured as TDRs. |
Dental Loan Portfolio
Dental Loan Portfolio | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Dental Loan Portfolio | NOTE 4 – DENTAL LOAN PORTFOLIO Dental lending is not operated as a business segment, and dental loans are made in the normal course of commercial lending activities throughout the Company. However, to assist in understanding the concentrations and risks associated with the Company’s loan portfolio, the following Note has been included to provide additional information relating to the Company’s dental loan portfolio. At June 30, 2015, December 31, 2014, and June 30, 2014, loans to dental professionals totaled $321,055, $306,391, and $302,822, respectively, and represented 24.58%, 29.29% and 29.37% in principal amount of total outstanding loans, respectively. As of June 30, 2015, December 31, 2014, and June 30, 2014, the dental loans were supported by government guarantees totaling $11,442, $12,700 and $13,967, respectively. These guarantees represented 3.56%, 4.15% and 4.61% in principal amount of the outstanding dental loan balances as of such respective dates. The Company defines a “dental loan” as a loan to dental professionals for the purpose of practice expansion, acquisition or other purpose supported by the cash flows of a dental practice. Loan Classification Major classifications of dental loans at June 30, 2015, December 31, 2014, and June 30, 2014, were as follows: June 30, December 31, June 30, 2014 Real estate secured loans: Owner-occupied commercial $ 59,819 $ 60,092 $ 61,452 Other dental real estate loans 2,596 2,785 2,663 Total permanent real estate loans 62,415 62,877 64,115 Dental construction loans 2,033 604 388 Total real estate loans 64,448 63,481 64,503 Commercial loans 256,607 242,910 238,319 Gross loans $ 321,055 $ 306,391 $ 302,822 Market Area The Bank’s defined “local market area” is within the states of Oregon and Washington, west of the Cascade Mountain Range. This area is serviced by branch locations in Eugene, Oregon; Portland, Oregon; and Seattle, Washington. The Company also makes national dental loans throughout the United States. National loan relationships are maintained and serviced by Bank personnel primarily located in Portland. The following table summarizes the Company’s dental lending by borrower location: June 30, December 31, June 30, 2014 Local $ 156,315 $ 159,425 $ 169,102 National 164,740 146,966 133,720 Total $ 321,055 $ 306,391 $ 302,822 Allowance The allowance for loan losses identified for the dental loan portfolio is established as an amount that management considers adequate to absorb possible losses on existing loans within the dental loan portfolio. The allowance related to the dental loan portfolio consists of general and specific components. The general component is based upon all dental loans collectively evaluated for impairment, including qualitative conditions associated with loan type, national location, start-up financing, practice acquisition financing, and specialty practice financing. The specific component is based upon dental loans individually evaluated for impairment. Three months ended Six months ended 2015 2014 2015 2014 Balance, beginning of period $ 3,912 $ 3,901 $ 4,141 $ 3,730 Provision (reclassification) 198 217 3 795 Loans charged against allowance (42 ) (31 ) (84 ) (447 ) Recoveries credited to allowance 12 49 20 58 Balance, end of period $ 4,080 $ 4,136 $ 4,080 $ 4,136 Credit Quality Please refer to Note 3 for additional information on the definitions of the credit quality indicators. The following tables present the Company’s dental loan portfolio by market and credit grade at June 30, 2015, December 31, 2014, and June 30, 2014: As of June 30, 2015 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 153,911 $ — $ 2,404 $ — $ 156,315 National 161,764 — 2,976 — 164,740 Total $ 315,675 $ — $ 5,380 $ — $ 321,055 As of December 31, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 156,589 $ — $ 2,836 $ — $ 159,425 National 144,120 — 2,846 — 146,966 Total $ 300,709 $ — $ 5,682 $ — $ 306,391 As of June 30, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 163,049 $ — $ 6,053 $ — $ 169,102 National 132,520 — 1,200 — 133,720 Total $ 295,569 $ — $ 7,253 $ — $ 302,822 Past Due and Nonaccrual Loans The following tables present an aged analysis of the dental loan portfolio by market, including nonaccrual loans, as of June 30, 2015, December 31, 2014, and June 30, 2014: As of June 30, 2015 30-59 Days Past Due Still Accruing 60-89 Days Greater Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Total Loans Receivable Local $ 331 $ — $ — $ 536 $ 867 $ 155,448 $ 156,315 National — — — — — 164,740 164,740 Total $ 331 $ — $ — $ 536 $ 867 $ 320,188 $ 321,055 As of December 31, 2014 30-59 Days Past Due Still Accruing 60-89 Days Still Accruing Greater Than 90 Days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Local $ 327 $ — $ — $ 597 $ 924 $ 158,501 $ 159,425 National — — — — — 146,966 146,966 Total $ 327 $ — $ — $ 597 $ 924 $ 305,467 $ 306,391 As of June 30, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Local $ — $ — $ — $ 1,028 $ 1,028 $ 168,074 $ 169,102 National — — — 222 222 133,498 133,720 Total $ — $ — $ — $ 1,250 $ 1,250 $ 301,572 $ 302,822 |
Federal Funds and Overnight Fun
Federal Funds and Overnight Funds Purchased | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Federal Funds and Overnight Funds Purchased | NOTE 5 – FEDERAL FUNDS AND OVERNIGHT FUNDS PURCHASED At June 30, 2015, the Company had unsecured federal funds borrowing lines with various correspondent banks totaling $129,000. At June 30, 2015, December 31, 2014, and June 30, 2014, there was $5,500, $0, and $6,410, respectively outstanding on these lines. The Company also has a secured overnight borrowing line available from the Federal Reserve Bank of San Francisco (“FRB”) that totaled $71,190, $65,084 and $101,122 at June 30, 2015, December 31, 2014, and June 30, 2014, respectively. At June 30, 2015, the FRB borrowing line was secured by the pledge of approximately $132,032 of commercial loans under the Company’s Borrower-In-Custody program. At June 30, 2015, December 31, 2014, and June 30, 2014, there were no outstanding borrowings on this line. |
Federal Home Loan Bank Borrowin
Federal Home Loan Bank Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Borrowings | NOTE 6 – FEDERAL HOME LOAN BANK BORROWINGS The Company has a borrowing limit with the Federal Home Loan Bank of Des Moines (“FHLB”) equal to 35% of total assets, subject to the value of discounted collateral pledged. On June 1, 2015, the FHLB Des Moines announced the completion of its merger with the FHLB Seattle effective May 31, 2015. At that time, the combined entity repurchased excess stock above what was needed to support borrowings, resulting in a reduction of outstanding FHLB stock. At June 30, 2015, the maximum borrowing line was $640,830; however, the FHLB borrowing line was limited by the discounted value of collateral pledged. At June 30, 2015, the Company had pledged $604,157 in real estate loans to the FHLB that had a discounted value of $400,600. There was $84,000 borrowed on this line at June 30, 2015. At December 31, 2014, the maximum FHLB borrowing line was $451,298, and the Company had pledged real estate loans and securities to the FHLB with a discounted value of $318,854. There was $96,000 borrowed on this line at December 31, 2014. At June 30, 2014, the maximum FHLB borrowing line was $449,629, and the Company had pledged real estate loans and securities to the FHLB with a discounted collateral value of $284,453. There was $164,500 borrowed on this line at June 30, 2014. Below is a summary of outstanding FHLB borrowings by maturity. Current Rates June 30, 2015 Cash management advance NA $ — 2014 — — 2015 0.29% - 1.60% 56,500 2016 1.84% - 2.36% 22,500 2017 2.28% 3,000 2018 — — 2019 — — Thereafter 3.85% 2,000 $ 84,000 |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | NOTE 7 – SHARE-BASED COMPENSATION The Company’s 2006 Stock Option and Equity Compensation Plan (the “2006 SOEC Plan”) authorizes the award of up to 1,550,000 shares in share-based awards. The awards granted under this plan are performance-based and are subject to vesting. The Compensation Committee of the Board of Directors may impose any terms or conditions on the vesting of an award that it determines to be appropriate. Awards granted generally vest over four years and have a maximum life of ten years. Awards may be granted at exercise prices of not less than 100% of the fair market value of the Company’s common stock at the grant date. Pursuant to the 2006 SOEC Plan, incentive stock options (“ISOs”), nonqualified stock options, restricted stock, restricted stock units (“RSUs”), or stock appreciation rights (“SARs”) may be awarded to attract and retain the best available personnel to the Company and its subsidiaries. SARs may be settled in common stock or cash as determined at the date of issuance. Liability-based awards (including all cash-settled SARs) have no impact on the number of shares available to be issued within the plan. Additionally, non-qualified option awards and restricted stock awards may be granted to directors under the terms of this plan. Prior to April 2006, ISO and non-qualified stock option awards were granted to employees and directors under the Company’s 1999 Employees’ Stock Option Plan and the Company’s 1999 Directors’ Stock Option Plan. The Company has stock options outstanding under both of these plans. Subsequent to the annual shareholders’ meeting in April 2006, all shares available under these plans were deregistered and are no longer available for future grants. For the six months ended June 30, 2015, 19,185 restricted shares were granted and issued to directors with no restrictions imposed. Additionally, 155,898 RSUs were granted to employees during the first six months of 2015. Of the 155,898 RSUs granted, 7,052 cliff vest on January 1, 2019, 148,460 vest over four years, and 386 vested immediately. Shares of common stock will be issued as soon as practicable upon vesting. For the six months ended June 30, 2014, 14,996 restricted shares were granted and issued to directors with no restrictions imposed. Additionally, 127,051 RSUs were granted to employees during the first six months of 2014. Of the 127,051 RSUs granted, 116,771 vest over four years, 9,902 vest over two years, and 378 vested immediately. No other awards were granted during the six months ended June 30, 2015 and 2014. The following table summarizes the shares and the aggregate grant-date fair market values of the equity-based awards granted during the six months ended June 30, 2015: Six months ended June 30, 2015 June 30, 2014 Shares Grant Date Shares Grant Date Equity-based awards: Director restricted stock 19,185 $ 248 14,996 $ 200 Employee stock options — — — — Employee stock SARs — — — — Employee RSUs 155,898 2,206 127,051 1,679 175,083 $ 2,454 142,047 $ 1,879 The following table provides a summary of the Company’s RSU activity, including the weighted average grant date fair value per share, for the six months ended June 30, 2015: Six months ended June 30, 2015 Non-Vested Weighted Average Balance, beginning of period $ 306,532 $ 11.18 Granted 155,898 13.00 Vested shares issued (75,373 ) 10.59 Vested shares surrendered for taxes (46,105 ) 10.59 Forfeited or expired (4,847 ) 11.86 Balance, end of period $ 336,105 $ 12.23 The following table identifies the compensation expense recorded and tax benefits received by the Company on its share-based compensation plans for the three and six months ended June 30, 2015, and 2014: Three months ended June 30, 2015 2014 Compensation Expense (Income) Tax Benefit (expense) Compensation Expense Tax Benefit Equity-based awards: Director restricted stock $ 248 $ 94 $ 200 $ 76 Employee RSUs 376 143 331 126 Liability-based awards: Employee cash SARs (50 ) (19 ) 15 6 $ 574 $ 218 $ 546 $ 208 Six months ended June 30, 2015 2014 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ 248 $ 94 $ 200 $ 76 Employee stock options — — 13 — Employee stock SARs — — 26 10 Employee RSUs 708 269 561 213 Liability-based awards: Employee cash SARs (50 ) (19 ) 70 27 $ 906 $ 344 $ 870 $ 326 The following table identifies stock options, employee stock SARs, and employee cash SARs exercised during the three and six months ended June 30, 2015: Three months ended June 30, 2015 Number Exercised Weighted Average Exercise Price Intrinsic Value Number of Issued Net Cash Payment to Employees Stock options — $ — $ — — NA Employee stock SARs 600 $ 11.30 $ 1 52 NA Employee cash SARs — $ — NA NA $ — Six months ended June 30, 2015 Number Weighted Intrinsic Number of Net Cash Stock options 1,102 $ 12.25 $ 2 1,102 NA Employee stock SARs 1,213 $ 11.50 $ 1 92 NA Employee cash SARs 208 $ 12.07 NA NA $ — The following table identifies stock options, employee stock SARs, and employee cash SARs exercised during the three and six months ended June 30, 2014: Three months ended June 30, 2014 Number Weighted Intrinsic Number of Net Cash Stock options — $ — $ — — NA Employee stock SARs 1,961 $ 11.53 $ 3 189 NA Employee cash SARs 2,219 $ 12.07 NA NA $ 3 Six months ended June 30, 2014 Number Weighted Intrinsic Number of Net Cash Stock options 16,779 $ 11.29 $ 57 — NA Employee stock SARs 14,140 $ 11.86 $ 25 1,629 NA Employee cash SARs 6,445 $ 12.21 NA NA $ 8 No liability-based or equity-based awards vested during the six months ended June 30, 2014. At June 30, 2015, the Company had estimated unrecognized compensation expense of approximately $3,337 for unvested RSUs. These amounts are based on historical forfeiture rates of 13.00% for all RSUs granted to employees. The weighted-average period of time the unrecognized compensation expense will be recognized for the unvested RSUs was approximately 2.94 years as of June 30, 2015. |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value | NOTE 8 - FAIR VALUE The following table presents estimated fair values of the Company’s financial instruments as of June 30, 2015, December 31, 2014, and June 30, 2014, in accordance with the provisions of FASB ASC 825 “Financial Instruments.” The use of different assumptions and estimation methods could have a significant effect on the reported fair value amounts. Accordingly, the estimates of fair value herein are not necessarily indicative of the amounts that might be realized in a current market exchange. June 30, 2015 December 31, 2014 June 30, 2014 Carrying Fair Value Carrying Amount Fair Value Carrying Fair Value Financial assets: Cash and cash equivalents $ 39,602 $ 39,602 $ 25,787 $ 25,787 $ 43,443 $ 43,443 Securities available-for-sale 383,618 383,618 351,946 351,946 344,645 344,645 Loans 1,304,932 1,289,072 1,045,021 1,033,254 1,030,021 1,015,721 Federal Home Loan Bank stock 5,468 5,468 10,019 10,019 10,227 10,227 Interest receivable 5,833 5,833 4,773 4,773 5,101 5,101 Bank-owned life insurance 22,571 22,571 16,609 16,609 16,370 16,370 Swap derivative 117 117 176 176 218 218 Financial liabilities: Deposits $ 1,514,181 $ 1,514,255 $ 1,209,093 $ 1,209,240 $ 1,132,654 $ 1,132,917 Federal funds and overnight funds purchased 5,500 5,500 — — 6,410 6,410 Federal Home Loan Bank borrowings 84,000 84,587 96,000 96,721 164,500 165,502 Junior subordinated debentures 8,248 2,494 8,248 2,410 8,248 2,326 Interest payable 170 170 176 176 170 170 Cash and cash equivalents Securities available-for-sale Loans Federal Home Loan Bank stock Interest receivable and payable Bank-owned life insurance Swap derivative Deposits Federal funds and overnight funds purchased Federal Home Loan Bank borrowings Junior subordinated debentures Off-balance sheet financial instruments The Company also adheres to the FASB guidance with regards to ASC 820, “Fair Value Measures.” This guidance defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. The statement requires fair value measurement disclosure of all assets and liabilities that are carried at fair value on either a recurring or nonrecurring basis. The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as matrix or model pricing, when market quotes are not readily accessible or available. The valuation techniques used are based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active or model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 – Unobservable inputs are used to measure fair value to the extent that observable inputs are not available. The Company’s own data used to develop unobservable inputs is adjusted for market consideration when reasonably available. Financial instruments, measured at fair value, are broken down in the tables below by recurring or nonrecurring measurement status. Recurring assets are initially measured at fair value and are required to be remeasured at fair value in the financial statements at each reporting date. Assets measured on a nonrecurring basis are assets that, due to an event or circumstance, were required to be remeasured at fair value after initial recognition in the financial statements at some time during the reporting period. The following table presents information about the level in the fair value hierarchy for the Company’s assets and liabilities not measured and carried at fair value as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value at June 30, 2015 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 39,602 $ 39,602 $ — $ — Loans 1,304,932 — — 1,289,072 Federal Home Loan Bank stock 5,468 5,468 — — Interest receivable 5,833 5,833 — — Financial liabilities: Deposits $ 1,514,181 $ — $ 1,514,255 $ — Federal funds and overnight funds purchased 5,500 5,500 — — Federal Home Loan Bank borrowings 84,000 — 84,587 — Junior subordinated debentures 8,248 — 2,494 — Interest payable 170 170 — — Carrying Fair Value at December 31, 2014 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 25,787 $ 25,787 $ — $ — Loans 1,045,021 — — 1,033,254 Federal Home Loan Bank stock 10,019 10,019 — — Interest payable 4,773 4,773 — — Financial liabilities: Deposits $ 1,209,093 $ — $ 1,209,240 $ — Federal funds and overnight funds purchased — — — — Federal Home Loan Bank borrowings 96,000 — 96,721 — Junior subordinated debentures 8,248 — 2,410 — Interest payable 176 176 — — Carrying Fair Value at June 30, 2014 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 43,443 $ 43,443 $ — $ — Loans 1,030,021 — — 1,015,721 Federal Home Loan Bank stock 10,227 10,227 — — Interest payable 5,101 5,101 — — Financial liabilities: Deposits $ 1,132,654 $ — $ 1,132,917 $ — Federal funds and overnight funds purchased 6,410 6,410 — — Federal Home Loan Bank borrowings 164,500 — 165,502 — Junior subordinated debentures 8,248 — 2,326 — Interest payable 170 170 — — The tables below show assets measured at fair value on a recurring basis as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value at June 30, 2015 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 55,796 $ — $ 55,796 $ — Obligations of states and political subdivisions 87,387 — 87,387 — Mortgage-backed securities 202,114 — 202,114 — Private-label mortgage-backed securities 3,334 — 1,551 1,783 SBA pools 34,089 — 34,089 — Corporate securities 898 — 898 — Swap derivative 117 117 — — Total assets measured on a recurring basis $ 383,735 $ 117 $ 381,835 $ 1,783 Carrying Fair Value at December 31, 2014 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 39,185 $ — $ 39,185 $ — Obligations of states and political subdivisions 83,981 — 83,981 — Mortgage-backed securities 205,390 — 205,390 — Private-label mortgage-backed securities 3,816 — 2,248 1,568 SBA pools 19,574 — 19,574 — Swap derivative 176 176 — — Total assets measured on a recurring basis $ 352,122 $ 176 $ 350,378 $ 1,568 Fair Value at June 30, 2014 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 37,162 $ — $ 37,162 $ — Obligations of states and political subdivisions 81,680 — 81,680 — Mortgage-backed securities 212,720 — 212,720 — Private-label mortgage-backed securities 4,443 — 2,750 1,693 SBA pools 8,640 — 8,640 — Swap derivative 218 218 — — Total assets measured on a recurring basis $ 344,863 $ 218 $ 342,952 $ 1,693 No transfers to or from Levels 1 and 2 occurred on assets measured at fair value on a recurring basis during the six months ended June 30, 2015, and 2014, or during the year ended December 31, 2014. The following is a description of the inputs and valuation methodologies used for assets recorded at fair value on a recurring basis. Fair value for all classes of available-for-sale securities is estimated by obtaining quoted market prices for identical assets, where available. If such prices are not available, fair value is based on independent asset pricing services and models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, prepayments, defaults, cumulative loss projections, and cash flows. Fair value of the swap derivative is determined by FTN Financial, and represents an active price quote which it would pay or the Bank would be charged to leave the swap early. There have been no significant changes in the valuation techniques during the periods reported. The following table provides a reconciliation of private-label mortgage-backed securities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three and six months ended June 30, 2015, and 2014: Three months ended Six months ended 2015 2014 2015 2014 Beginning balance $ 1,545 $ 1,774 $ 1,568 $ 1,786 Transfers from level 2 300 — 300 — Transfers out of Level 3 — — — — Total gains or losses Included in earnings (13 ) — (13 ) — Included in other comprehensive income 29 (61 ) 68 (11 ) Paydowns (78 ) (20 ) (140 ) (82 ) Purchases, issuances, sales and settlements Purchases — — — — Issuances — — — — Sales — — — — Settlements — — — — Ending balance $ 1,783 $ 1,693 $ 1,783 $ 1,693 The Company utilizes FTN Financial as a third-party pricing service to estimate fair value on all of its available-for-sale securities. The inputs used to value all securities include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data, including market research, market indicators, and industry and economic trends. Additional inputs specific to each asset type are as follows: • Obligations of U.S. government agencies • Obligations of states and political subdivisions • Private-label mortgage-backed securities • Mortgage-backed securities • SBA variable pools Inputs may be prioritized differently on any given day for any security and not all inputs listed are available for use in the evaluation process on any given day for each security evaluation. The valuation methodology used by asset type includes: • Obligations of U.S. government agencies • Obligations of states and political subdivisions • Private-label mortgage-backed securities • Mortgage-backed securities • SBA pools The third-party pricing service follows multiple review processes to assess the available market, credit and deal-level information to support its valuation estimates. If sufficient objectively verifiable information is not available to support a security’s valuation, an alternate independent evaluation source will be used. The Company’s securities portfolio was valued through its independent third-party pricing service using evaluated pricing models and quoted prices based on market data. For further assurance, the Company’s estimate of fair value was compared to an additional independent third-party estimate at June 30, 2015, and the Company obtained key inputs for a sample of securities across sectors and evaluated those inputs for reasonableness. This analysis was performed at the individual security level and no material variances were noted. During second quarter 2015, there was one security that transferred from level 2 to level 3 as the bank recorded OTTI on a security. For additional information, see Note 2 of the Notes to Consolidated Financial Statements There have been no significant changes in the valuation techniques during the periods reported. The tables below show assets measured at fair value on a nonrecurring basis as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value June 30, 2015 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 3,041 $ — $ — $ 3,041 Other real estate owned 12,666 — — 12,666 Total $ 15,707 $ — $ — $ 15,707 Carrying Fair Value December 31, 2014 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 3,110 $ — $ — $ 3,110 Other real estate owned 13,374 — — 13,374 Total $ 16,484 $ — $ — $ 16,484 Carrying Fair Value June 30, 2014 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 5,298 $ — $ — $ 5,298 Other real estate owned 11,531 — — 11,531 Total $ 16,829 $ — $ — $ 16,829 The following is a description of the inputs and valuation methodologies used for assets recorded at fair value on a nonrecurring basis. Loans measured for impairment (net of government guarantees and specific reserves) include the estimated fair value of collateral-dependent loans, less collectible government guarantees, as well as certain noncollateral-dependent loans measured for impairment with an allocated specific reserve. When a collateral-dependent loan is identified as impaired, the value of the loan is measured using the current fair value of the collateral less selling costs. The fair value of collateral is generally estimated by obtaining external appraisals which are usually updated every 6 to 12 months based on the nature of the impaired loans. Certain noncollateral-dependent loans measured for impairment with an allocated specific reserve are valued based upon the estimated net realizable value of the loan. If the estimated fair value of the impaired loan, less collectible government guarantees, is less than the recorded investment in the loan, impairment is recognized as a charge-off through the allowance for loan losses. The carrying value of the loan is adjusted to the estimated fair value. The carrying value of loans fully charged off is zero. Other real estate owned represents real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at the lower of the carrying amount of the loan or fair value less costs to sell, which becomes the property’s new basis. Any write downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, management periodically orders appraisals or performs valuations to ensure that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Appraisals are generally updated every 6 to 12 months on other real estate owned. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on other real estate owned for fair value adjustments based on the fair value of the real estate. There have been no significant changes in the valuation techniques during the periods reported. |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | NOTE 9 – DERIVATIVE INSTRUMENTS Derivative instruments are entered into primarily as a risk management tool of the Company to help manage its interest rate risk position. Financial derivatives are recorded at fair value as other assets and other liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument, to the extent that it is effective, are recorded in accumulated other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. Any ineffective portion of a cash flow hedge is recognized currently in earnings. During the second quarter 2013, the Company entered into an interest rate swap agreement with an $8,000 notional amount to convert its variable-rate Junior Subordinated Debenture debt into a fixed rate for a term of seven years at a rate of 2.73%. The derivative is designated as a cash flow hedge. The hedge meets the definition of highly effective and the Company expects the hedge to be highly effective throughout the remaining term of the swap. The fair value of the derivative instrument at June 30, 2015, was a $117 unrealized gain, which is recorded in the other asset section of the consolidated balance sheet, net of the tax effect. No gain or loss was recognized in earnings for the six months ended June 30, 2015, related to interest rate swaps. The Company maintains written documentation for the hedge. This documentation identifies the hedging objective and strategy, the hedging instrument, the instrument being hedged, the reasoning behind the assertion that the hedge is highly effective and the methodology for measuring ongoing hedge effectiveness and ineffectiveness. The Company pledged $400 under collateral arrangements to satisfy collateral requirements associated with the interest rate swap contract. |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 10 – REGULATORY MATTERS The Company and the Bank are subject to the regulations of certain federal and state agencies and receive periodic examinations by those regulatory authorities. In addition, they are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. In July 2013, the Federal Reserve Board and the other U.S. federal banking agencies adopted final rules making significant changes to the U.S. regulatory capital framework for U.S. banking organizations and to conform this framework to the Basel Committee’s current international regulatory capital accord (Basel III). These rules were effective January 1, 2015 and replaced the federal banking agencies’ general risk-based capital rules, advanced approaches rule, market-risk rule, and leverage rules, in accordance with certain transition provisions. The new rules implement higher minimum capital requirements, include a new common equity Tier 1 capital requirement, and establish criteria that instruments must meet in order to be considered common equity Tier 1 capital, additional Tier 1 capital, or Tier 2 capital. When fully phased in, the final rules will provide for increased minimum capital ratios as follows: (a) a common equity Tier 1 capital ratio of 4.50%; (b) a Tier 1 capital ratio of 6.00% (which is an increase from 4.00%); (c) a total capital ratio of 8.00%; and (d) a Tier 1 leverage ratio to average consolidated assets of 4.00%. The new rules permit depository institution holding companies with less than $15 billion in total consolidated assets as of December 31, 2009, such as the Company, to include trust preferred securities in Tier 1 capital. The new rules made it optional for banks and bank holding companies to include accumulated other comprehensive income in their calculations of Tier 1 capital. The Company’s accumulated other comprehensive income consists primarily of the unrealized gain or loss on the securities portfolio as a result of marking securities available-for-sale to market. The Company opted to exclude accumulated other comprehensive income from its calculation of Tier 1 capital. Overall, the new rules did not materially impact the Company’s reported capital ratios for first or second quarter 2015. The Company continues to evaluate the impact of the rules as they are phased in over the next few years. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of Total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to leverage assets. Management believes that, as of June 30, 2015, the Company and the Bank met all capital adequacy requirements to which they are subject. As of June 30, 2015, and according to Federal Reserve and FDIC guidelines, the Bank was considered to be well-capitalized. To be categorized as well-capitalized, the Bank must maintain minimum Total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following table. To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2015: Total capital (to risk weighted assets) Bank: $ 191,401 12.84 % $ 119,216 8.00 % $ 149,020 10.00 % Company: $ 191,999 12.88 % NA NA Tier 1 capital (to risk (to risk weighted assets) Bank: $ 175,003 11.74 % $ 89,412 6.00 % $ 119,216 8.00 % Company: $ 175,601 11.78 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 175,003 11.74 % $ 67,059 4.50 % $ 96,863 6.50 % Company: $ 168,029 11.27 % NA NA Tier 1 leverage ratio (to leverage assets) Bank: $ 175,003 9.97 % $ 70,190 4.00 % $ 74,510 5.00 % Company: $ 175,601 10.01 % NA NA As of December 31, 2014: Total capital (to risk weighted assets) Bank: $ 176,199 15.48 % $ 91,040 8.00 % $ 113,800 10.00 % Company: $ 179,109 15.73 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 161,954 14.23 % $ 45,520 4.00 % $ 68,280 6.00 % Company: $ 164,864 14.48 % NA NA Tier 1 capital (to leverage assets) Bank: $ 161,954 11.13 % $ 58,193 4.00 % $ 72,741 5.00 % Company: $ 164,864 11.33 % NA NA As of June 30, 2014: Total capital (to risk weighted assets) Bank: $ 173,819 15.46 % $ 89,938 8.00 % $ 112,422 10.00 % Company: $ 176,940 15.73 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 159,744 14.21 % $ 44,969 4.00 % $ 67,453 6.00 % Company: $ 162,865 14.48 % NA NA Tier 1 capital (to leverage assets) Bank: $ 159,744 11.05 % $ 57,829 4.00 % $ 72,286 5.00 % Company: $ 162,865 11.26 % NA NA |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying consolidated financial statements have been prepared by the Company without audit and in conformity with generally accepted accounting principles in the United States of America for interim financial information. The consolidated financial statements include all adjustments and normal accruals, which the Company considers necessary for a fair presentation of the results of operations for such interim periods. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, as of the date of the balance sheets and income and expenses for the periods. Actual results could differ from those estimates. The balance sheet data as of December 31, 2014, was derived from audited consolidated financial statements, but does not include all disclosures contained in the Company’s 2014 Form 10-K. The interim consolidated financial statements should be read in conjunction with the December 31, 2014, consolidated financial statements, including the notes thereto, included in the Company’s 2014 Form 10-K. |
Loans | Loans are stated at the amount of unpaid principal net of loan premiums or discounts for purchased loans, net of deferred loan origination fees, discounts associated with retained portions of loans sold, and an allowance for loan losses. Interest on loans is calculated using the simple-interest method on daily balances of the principal amount outstanding. Loan origination fees, net of origination costs and discounts, are amortized over the lives of the loans as adjustments to yield. |
Allowance for Loan Losses | The allowance for loan losses is established as an amount that management considers adequate to absorb possible losses on existing loans within the portfolio. The allowance consists of general, specific, and unallocated components. The general component is based upon all loans collectively evaluated for impairment. The specific component is based upon all loans individually evaluated for impairment. The unallocated component represents credit losses inherent in the loan portfolio that may not have been contemplated in the general risk factors or the specific allowance analysis. Loans are charged against the allowance when management believes the collection of principal or interest is unlikely. The Company performs regular credit reviews of the loan portfolio to determine the credit quality and adherence to underwriting standards. When loans are originated, they are assigned a risk rating that is reassessed periodically during the term of the loan through the credit review process and on an ongoing basis by management. The Company’s internal risk rating methodology assigns risk ratings ranging from one to ten, where a higher rating represents higher risk. The ten-point risk rating categories are a primary factor in determining an appropriate amount for the allowance for loan losses. Estimated credit losses reflect consideration of all significant factors that affect the collectability of the loan portfolio. The historical loss rate for each group of loans with similar risk characteristics is determined based on the Company’s own loss experience in that group. Historical loss experience and recent trends in losses provide a reasonable starting point for analysis, however they do not by themselves form a sufficient basis to determine the appropriate level for the allowance for loan losses. Qualitative or environmental factors that are likely to cause estimated credit losses to differ from historical losses are also considered, including but not limited to: • Changes in international, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments, • Changes in the nature and volume of the portfolio and in the terms of loans, • Changes in the experience, ability, and depth of lending management and other relevant staff, • Changes in the volume and severity of past due loans, the volume of nonaccrual loans, and the volume and severity of adversely classified or graded loans, • Changes in the quality of the institution’s loan review system, • Changes in the value of underlying collateral for collateral-dependent loans, • The existence and effect of any concentrations of credit, and changes in the level of such concentrations, • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the institution’s existing portfolio, • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses, and • Changes in the current and future US political environment, including debt ceiling negotiations, government shutdown and healthcare reform, that may affect national, regional and local economic conditions, taxation, or disruption of national or global financial markets. The adequacy of the allowance for loan losses and the reserve for unfunded commitments is determined using a systematic methodology and is monitored regularly based on management’s evaluation of numerous factors. For each portfolio segment, these factors include: • The quality of the current loan portfolio, • The trend in the migration of the loan portfolio’s risk ratings, • The velocity of migration of losses and potential losses, • Current economic conditions, • Loan concentrations, • Loan growth rates, • Past-due and nonperforming trends, • Evaluation of specific loss estimates for all significant problem loans, • Recovery experience, and • Peer comparison loss rates. |
Fair Value Measurements | The Company also adheres to the FASB guidance with regards to ASC 820, “Fair Value Measures.” This guidance defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. The statement requires fair value measurement disclosure of all assets and liabilities that are carried at fair value on either a recurring or nonrecurring basis. The Company determines fair value based upon quoted prices when available or through the use of alternative approaches, such as matrix or model pricing, when market quotes are not readily accessible or available. The valuation techniques used are based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: • Level 1 – Quoted prices for identical instruments in active markets. • Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active or model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 – Unobservable inputs are used to measure fair value to the extent that observable inputs are not available. The Company’s own data used to develop unobservable inputs is adjusted for market consideration when reasonably available. Financial instruments, measured at fair value, are broken down in the tables below by recurring or nonrecurring measurement status. Recurring assets are initially measured at fair value and are required to be remeasured at fair value in the financial statements at each reporting date. Assets measured on a nonrecurring basis are assets that, due to an event or circumstance, were required to be remeasured at fair value after initial recognition in the financial statements at some time during the reporting period. |
Derivative Instruments and Hedging Activities | Derivative instruments are entered into primarily as a risk management tool of the Company to help manage its interest rate risk position. Financial derivatives are recorded at fair value as other assets and other liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability are recognized currently in earnings. For a cash flow hedge, changes in the fair value of the derivative instrument, to the extent that it is effective, are recorded in accumulated other comprehensive income and subsequently reclassified to earnings as the hedged transaction impacts net income. Any ineffective portion of a cash flow hedge is recognized currently in earnings. |
Securities Available-for-Sale (
Securities Available-for-Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Securities Available-for-Sale | The amortized cost and estimated fair values of securities available-for-sale at June 30, 2015, were as follows: Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value Unrealized Loss Positions Obligations of U.S. government agencies $ 10,991 $ — $ (142 ) $ 10,849 Obligations of states and political subdivisions 25,658 — (475 ) 25,183 Private-label mortgage-backed securities 484 — (39 ) 445 Mortgage-backed securities 37,982 — (238 ) 37,744 SBA pools 10,178 — (56 ) 10,122 $ 85,293 $ — $ (950 ) $ 84,343 Unrealized Gain Positions Obligations of U.S. government agencies $ 44,093 $ 854 $ — $ 44,947 Obligations of states and political subdivisions 59,639 2,565 — 62,204 Private-label mortgage-backed securities 2,738 151 — 2,889 Mortgage-backed securities 161,415 2,955 — 164,370 SBA pools 23,855 112 — 23,967 Corporate bonds 898 — — 898 $ 292,638 $ 6,637 $ — $ 299,275 $ 377,931 $ 6,637 $ (950 ) $ 383,618 The amortized cost and estimated fair values of securities available-for-sale at December 31, 2014, were as follows: Amortized Gross Gross Estimated Unrealized Loss Positions Obligations of U.S. government agencies $ 7,573 $ — $ (72 ) $ 7,501 Obligations of states and political subdivisions 11,755 — (253 ) 11,502 Private-label mortgage-backed securities 847 — (64 ) 783 Mortgage-backed securities 64,644 — (544 ) 64,100 SBA pools 13,059 — (56 ) 13,003 $ 97,878 $ — $ (989 ) $ 96,889 Unrealized Gain Positions Obligations of U.S. government agencies $ 31,068 $ 616 $ — $ 31,684 Obligations of states and political subdivisions 69,172 3,307 — 72,479 Private-label mortgage-backed securities 2,924 109 — 3,033 Mortgage-backed securities 138,306 2,984 — 141,290 SBA pools 6,541 30 — 6,571 $ 248,011 $ 7,046 $ — $ 255,057 $ 345,889 $ 7,046 $ (989 ) $ 351,946 The amortized cost and estimated fair values of securities available-for-sale at June 30, 2014, were as follows: Amortized Gross Gross Estimated Value Unrealized Loss Positions Obligations of U.S. government agencies $ 2,998 $ — $ (45 ) $ 2,953 Obligations of states and political subdivisions 23,272 — (586 ) 22,686 Private-label mortgage-backed securities 1,246 — (64 ) 1,182 Mortgage-backed securities 43,063 — (480 ) 42,583 SBA pools 5,230 — (40 ) 5,190 $ 75,809 $ — $ (1,215 ) $ 74,594 Unrealized Gain Positions Obligations of U.S. government agencies $ 33,645 $ 565 $ — $ 34,210 Obligations of states and political subdivisions 56,275 2,719 — 58,994 Private-label mortgage-backed securities 3,154 107 — 3,261 Mortgage-backed securities 166,464 3,672 — 170,136 SBA pools 3,422 28 — 3,450 $ 262,960 $ 7,091 $ — $ 270,051 $ 338,769 $ 7,091 $ (1,215 ) $ 344,645 |
Schedule of Investment Securities in Continuous Unrealized Loss Position | The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2015: Securities in Continuous Unrealized Loss Position for Less Than 12 Months Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months Securities in Continuous Unrealized Loss Position for 12 Months or Longer Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 9,367 $ 124 $ 1,482 $ 18 Obligations of states and political subdivisions 22,229 350 2,954 125 Private-label mortgage-backed securities — — 445 39 Mortgage-backed securities 32,020 144 5,724 94 SBA pools 9,300 55 822 1 $ 72,916 $ 673 $ 11,427 $ 277 The following table presents a summary of securities in a continuous unrealized loss position at December 31, 2014: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ 4,564 $ 10 $ 2,936 $ 62 Obligations of states and political subdivisions 2,620 39 8,883 214 Private-label mortgage-backed securities 303 12 480 52 Mortgage-backed securities 40,269 177 23,831 367 SBA pools 11,833 49 1,169 7 $ 59,589 $ 287 $ 37,299 $ 702 The following table presents a summary of securities in a continuous unrealized loss position at June 30, 2014: Securities in Gross in Loss Position for 12 Months Securities in Gross in Loss Position for 12 Months or Longer Obligations of U.S. government agencies $ — $ — $ 2,953 $ 45 Obligations of states and political subdivisions 5,515 24 17,171 562 Private-label mortgage-backed securities 329 3 854 61 Mortgage-backed securities 8,305 27 34,278 453 SBA pools 5,189 40 — — $ 19,338 $ 94 $ 55,256 $ 1,121 |
Schedule of Roll-Forward Aggregate Amount of Credit-Related OTTI | Following is a tabular roll-forward of the aggregate amount of credit-related OTTI at the beginning and end of the periods presented along with the amounts recognized in earnings during the three and six months ended June 30, 2015, and 2014: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance, beginning of period: $ 227 $ 227 $ 227 $ 227 Additions: Initial OTTI credit loss 13 — 13 — Balance, end of period: $ 240 $ 227 $ 240 $ 227 |
Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale | The amortized cost and estimated fair value of securities at June 30, 2015, by maturity, are shown below. Obligations of U.S. government agencies, states and political subdivisions and corporate bonds are shown by contractual maturity. Mortgage-backed securities and SBA variable pools are shown by projected average life. June 30, 2015 Amortized Estimated Value Due in one year or less $ 11,439 $ 11,554 Due after one year through 5 years 224,645 227,738 Due after 5 years through 10 years 108,956 111,045 Due after 10 years 32,891 33,281 $ 377,931 $ 383,618 |
Schedule of Investment Securities Pledged to Secure Public Deposits and Repurchase Agreements | The following table presents investment securities which were pledged to secure public deposits, and repurchase agreements as permitted or required by law: June 30, 2015 December 31, 2014 June 30, 2014 Amortized Estimated Amortized Estimated Amortized Estimated Pledged to secure public deposits $ 30,048 $ 30,777 $ 31,937 $ 32,802 $ 23,123 $ 23,416 Pledged to secure repurchase agreements 12,912 13,237 3,976 4,062 2,474 2,548 $ 42,960 $ 44,014 $ 35,913 $ 36,864 $ 25,597 $ 25,964 |
Loans, Allowance for Loan Los20
Loans, Allowance for Loan Losses, and Credit Quality Indicators (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Summary of Loan Classifications | Major classifications of period-end loans are as follows: June 30, % of Gross December 31, % of Gross June 30, % of Gross 2015 Loans 2014 Loans 2014 Loans Real estate loans Multi-family residential $ 68,289 5.23 % $ 51,586 4.93 % $ 50,867 4.93 % Residential 1-4 family 57,112 4.37 % 47,222 4.51 % 46,287 4.49 % Owner-occupied commercial 346,065 26.50 % 259,805 24.84 % 255,562 24.78 % Nonowner-occupied commercial 275,077 21.06 % 201,558 19.27 % 182,141 17.66 % Total permanent real estate loans 746,543 57.16 % 560,171 53.55 % 534,857 51.86 % Construction loans Multi-family residential 6,590 0.50 % 8,472 0.81 % 19,539 1.89 % Residential 1-4 family 30,145 2.31 % 28,109 2.69 % 33,951 3.29 % Commercial real estate 31,659 2.42 % 18,595 1.78 % 28,019 2.72 % Commercial bare land and acquisition & development 15,870 1.22 % 12,159 1.16 % 11,096 1.08 % Residential bare land and acquisition & development 7,074 0.54 % 6,632 0.63 % 6,240 0.61 % Total construction real estate loans 91,338 6.99 % 73,967 7.07 % 98,845 9.59 % Total real estate loans 837,881 64.15 % 634,138 60.62 % 633,702 61.45 % Commercial loans 459,458 35.18 % 406,568 38.87 % 392,810 38.10 % Consumer loans 3,783 0.29 % 3,862 0.37 % 3,410 0.33 % Other loans 5,025 0.38 % 1,443 0.14 % 1,207 0.12 % Gross loans 1,306,147 100.00 % 1,046,011 100.00 % 1,031,129 100.00 % Deferred loan origination fees (1,215 ) (990 ) (1,108 ) 1,304,932 1,045,021 1,030,021 Allowance for loan losses (16,013 ) (15,637 ) (15,675 ) Total loans, net of allowance for loan losses and net deferred fees $ 1,288,919 $ 1,029,384 $ 1,014,346 |
Summary of Allowance for Loan Losses Activity | A summary of activity in the allowance for loan losses for the three and six months ended June 30, 2015, and 2014 is as follows: Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance, beginning of period $ 15,724 $ 15,394 $ 15,637 $ 15,917 Provision charged to income 550 — 550 — Loans charged against allowance (454 ) (30 ) (527 ) (631 ) Recoveries credited to allowance 193 311 353 389 Balance, end of period $ 16,013 $ 15,675 $ 16,013 $ 15,675 |
Summary of Allowance for Credit Losses Activity by Loan Segment | A summary of the activity in the allowance for loan losses by major loan classification follows: For the three months ended June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 5,550 $ 7,537 $ 1,062 $ 52 $ 1,523 $ 15,724 Charge-offs (454 ) — — — — (454 ) Recoveries 183 3 3 4 — 193 Provision (reclassification) 622 124 46 (4 ) (238 ) 550 Ending balance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 For the six months ended June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Beginning balance $ 5,733 $ 7,494 $ 1,077 $ 54 $ 1,279 $ 15,637 Charge-offs (485 ) (42 ) — — — (527 ) Recoveries 287 48 8 10 — 353 Provision (reclassification) 366 164 26 (12 ) 6 550 Ending balance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 Balances as of June 30, 2015 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,847 $ 7,610 $ 1,002 $ 52 $ 1,285 $ 15,796 Ending allowance: individually evaluated for impairment 54 54 109 — — 217 Total ending allowance $ 5,901 $ 7,664 $ 1,111 $ 52 $ 1,285 $ 16,013 Ending loan balance: collectively evaluated for impairment $ 462,287 $ 740,753 $ 90,991 $ 3,783 $ — $ 1,297,814 Ending loan balance: individually evaluated for impairment 2,196 5,790 347 — — 8,333 Total ending loan balance $ 464,483 $ 746,543 $ 91,338 $ 3,783 $ — $ 1,306,147 Balances as of December 31, 2014 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,662 $ 7,438 $ 959 $ 54 $ 1,279 $ 15,392 Ending allowance: individually evaluated for impairment 71 56 118 — — 245 Total ending allowance $ 5,733 $ 7,494 $ 1,077 $ 54 $ 1,279 $ 15,637 Ending loan balance: collectively evaluated for impairment $ 405,414 $ 555,146 $ 73,610 $ 3,862 $ — $ 1,038,032 Ending loan balance: individually evaluated for impairment 2,597 5,025 357 — — 7,979 Total ending loan balance $ 408,011 $ 560,171 $ 73,967 $ 3,862 $ — $ 1,046,011 Balances as of June 30, 2014 Commercial Real Estate Construction Consumer Unallocated Total Ending allowance: collectively evaluated for impairment $ 5,580 $ 7,423 $ 1,219 $ 59 $ 1,251 $ 15,532 Ending allowance: individually evaluated for impairment 16 6 121 — — 143 Total ending allowance $ 5,596 $ 7,429 $ 1,340 $ 59 $ 1,251 $ 15,675 Ending loan balance: collectively evaluated for impairment $ 389,823 $ 528,734 $ 98,480 $ 3,410 $ — $ 1,020,447 Ending loan balance: individually evaluated for impairment 4,194 6,123 365 — — 10,682 Total ending loan balance $ 394,017 $ 534,857 $ 98,845 $ 3,410 $ — $ 1,031,129 |
Credit Quality Indicators | The following tables present the Company’s loan portfolio information by loan type and credit grade at June 30, 2015, December 31, 2014, and June 30, 2014: Credit Quality Indicators As of June 30, 2015 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 66,793 $ — $ 1,496 $ — $ 68,289 Residential 1-4 family 49,551 — 7,561 — 57,112 Owner-occupied commercial 334,002 — 12,063 — 346,065 Nonowner-occupied commercial 270,739 — 4,338 — 275,077 Total real estate loans 721,085 — 25,458 — 746,543 Construction Multi-family residential 6,590 — — — 6,590 Residential 1-4 family 30,073 — 72 — 30,145 Commercial real estate 30,512 — 1,147 — 31,659 Commercial bare land and acquisition & development 15,586 — 284 — 15,870 Residential bare land and acquisition & development 6,592 — 482 — 7,074 Total construction loans 89,353 — 1,985 — 91,338 Commercial and other 450,918 — 13,565 — 464,483 Consumer 3,782 — 1 — 3,783 Totals $ 1,265,138 $ — $ 41,009 $ — $ 1,306,147 Credit Quality Indicators As of December 31, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 50,074 $ — $ 1,512 $ — $ 51,586 Residential 1-4 family 39,527 — 7,695 — 47,222 Owner-occupied commercial 254,166 — 5,639 — 259,805 Nonowner-occupied commercial 197,940 — 3,618 — 201,558 Total real estate loans 541,707 — 18,464 — 560,171 Construction Multi-family residential 8,472 — — — 8,472 Residential 1-4 family 28,109 — — — 28,109 Commercial real estate 17,645 — 950 — 18,595 Commercial bare land and acquisition & development 11,917 — 242 — 12,159 Residential bare land and acquisition & development 5,954 — 678 — 6,632 Total construction loans 72,097 — 1,870 — 73,967 Commercial and other 395,918 — 12,093 — 408,011 Consumer 3,854 — 8 — 3,862 Totals $ 1,013,576 $ — $ 32,435 $ — $ 1,046,011 Credit Quality Indicators As of June 30, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Real estate loans Multi-family residential $ 49,341 $ — $ 1,526 $ — $ 50,867 Residential 1-4 family 38,453 — 7,834 — 46,287 Owner-occupied commercial 244,255 4,219 7,088 — 255,562 Nonowner-occupied commercial 178,168 — 3,973 — 182,141 Total real estate loans 510,217 4,219 20,421 — 534,857 Construction Multi-family residential 19,539 — — — 19,539 Residential 1-4 family 33,951 — — — 33,951 Commercial real estate 28,019 — — — 28,019 Commercial bare land and acquisition & development 10,866 — 230 — 11,096 Residential bare land and acquisition & development 5,487 — 753 — 6,240 Total construction loans 97,862 — 983 — 98,845 Commercial and other 380,601 — 13,416 — 394,017 Consumer 3,398 — 12 — 3,410 Totals $ 992,078 $ 4,219 $ 34,832 $ — $ 1,031,129 |
Aged Analysis of Dental Loans Receivable | The following tables present an aging analysis of past due and nonaccrual loans at June 30, 2015, December 31, 2014, and June 30, 2014: Age Analysis of Loans Receivable As of June 30, 2015 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 68,289 $ 68,289 Residential 1-4 family 173 — — 688 861 56,251 57,112 Owner-occupied commercial 1,278 338 — 1,117 2,733 343,332 346,065 Nonowner-occupied commercial — — — 878 878 274,199 275,077 Total real estate loans 1,451 338 — 2,683 4,472 742,071 746,543 Construction Multi-family residential — — — — — 6,590 6,590 Residential 1-4 family — — — — — 30,145 30,145 Commercial real estate — — — — — 31,659 31,659 Commercial bare land and acquisition & development — — — — — 15,870 15,870 Residential bare land and acquisition & development — — — — — 7,074 7,074 Total construction loans — — — — — 91,338 91,338 Commercial and other 686 — — 955 1,641 462,842 464,483 Consumer 6 — — — 6 3,777 3,783 Total $ 2,143 $ 338 $ — $ 3,638 $ 6,119 $ 1,300,028 $ 1,306,147 Age Analysis of Loans Receivable As of December 31, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — — $ — $ — $ — $ 51,586 $ 51,586 Residential 1-4 family 568 — — 321 889 46,333 47,222 Owner-occupied commercial — — — 599 599 259,206 259,805 Nonowner-occupied commercial 605 — — 906 1,511 200,047 201,558 Total real estate loans 1,173 — — 1,826 2,999 557,172 560,171 Construction Multi-family residential — — — — — 8,472 8,472 Residential 1-4 family — — — — — 28,109 28,109 Commercial real estate — — — — — 18,595 18,595 Commercial bare land and acquisition & development — — — — — 12,159 12,159 Residential bare land and acquisition & development — — — — — 6,632 6,632 Total construction loans — — — — — 73,967 73,967 Commercial and other 327 — — 869 1,196 406,815 408,011 Consumer 4 1 — — 5 3,857 3,862 Total $ 1,504 $ 1 $ — $ 2,695 $ 4,200 $ 1,041,811 $ 1,046,011 Age Analysis of Loans Receivable As of June 30, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Than 90 days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Real estate loans Multi-family residential $ — $ — $ — $ — $ — $ 50,867 $ 50,867 Residential 1-4 family — — — 473 473 45,814 46,287 Owner-occupied commercial — — — 1,703 1,703 253,859 255,562 Nonowner-occupied commercial 38 520 — 708 1,266 180,875 182,141 Total real estate loans 38 520 — 2,884 3,442 531,415 534,857 Construction Multi-family residential — — — — — 19,539 19,539 Residential 1-4 family — — — — — 33,951 33,951 Commercial real estate — — — — — 28,019 28,019 Commercial bare land and acquisition & development — — — — — 11,096 11,096 Residential bare land and acquisition & development — — — — — 6,240 6,240 Total construction loans — — — — — 98,845 98,845 Commercial and other — 247 — 2,047 2,294 391,723 394,017 Consumer 9 — — — 9 3,401 3,410 Total $ 47 $ 767 $ — $ 4,931 $ 5,745 $ 1,025,384 $ 1,031,129 |
Analysis of Impaired Loans | The following tables display an analysis of the Company’s impaired loans at June 30, 2015, December 31, 2014, and June 30, 2014: Impaired Loan Analysis As of June 30, 2015 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 878 312 1,190 1,702 1,155 8 Owner-occupied commercial 2,144 — 2,144 2,430 1,983 — Nonowner-occupied commercial 2,410 46 2,456 2,552 2,469 46 Total real estate loans 5,432 358 5,790 6,684 5,607 54 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — 28 — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 347 347 347 351 109 Total construction loans — 347 347 347 379 109 Commercial and other 1,176 1,020 2,196 2,559 2,456 54 Consumer — — — — — — Total impaired loans $ 6,608 $ 1,725 $ 8,333 $ 9,590 $ 8,442 $ 217 Impaired Loan Analysis As of December 31, 2014 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 564 313 877 1,181 1,123 2 Owner-occupied commercial 1,645 — 1,645 1,878 2,372 — Nonowner-occupied commercial 2,449 54 2,503 2,523 1,927 54 Total real estate loans 4,658 367 5,025 5,582 5,422 56 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 357 357 357 365 118 Total construction loans — 357 357 357 365 118 Commercial and other 2,025 572 2,597 2,946 3,924 71 Consumer — — — — — — Total impaired loans $ 6,683 $ 1,296 $ 7,979 $ 8,885 $ 9,711 $ 245 Impaired Loan Analysis As of June 30, 2014 Recorded Recorded Recorded Unpaid Average Related Real estate Multi-family residential $ — $ — $ — $ — $ — $ — Residential 1-4 family 730 316 1,046 1,373 1,254 4 Owner-occupied commercial 2,601 166 2,767 3,001 2,769 2 Nonowner-occupied commercial 2,310 — 2,310 2,317 1,078 — Total real estate loans 5,641 482 6,123 6,691 5,101 6 Construction Multi-family residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — 365 365 365 372 121 Total construction loans — 365 365 365 372 121 Commercial and other 3,672 522 4,194 9,333 4,926 16 Consumer — — — — — — Total impaired loans $ 9,313 $ 1,369 $ 10,682 $ 16,389 $ 10,399 $ 143 |
Schedule of Troubled Debt Restructurings by Class | The following table displays the Company’s TDRs by class at June 30, 2015, December 31, 2014, and June 30, 2014: June 30, 2015 Troubled Debt Restructurings as of June 30, 2014 Number of Post-Modification Outstanding Recorded Number of Contracts Post-Modification Number of Contracts Post-Modification Real estate Multifamily residential — $ — — $ — — $ — Residential 1-4 family 6 701 7 768 7 795 Owner-occupied commercial 2 1,027 2 1,046 5 1,988 Non owner-occupied commercial 7 2,408 7 2,503 3 2,309 Total real estate loans 15 4,136 16 4,317 15 5,092 Construction Multifamily residential — — — — — — Residential 1-4 family — — — — — — Commercial real estate — — — — — — Commercial bare land and acquisition & development — — — — — — Residential bare land and acquisition & development — — — — — — Total construction loans — — — — — — Commercial and other 11 1,941 12 2,259 11 2,553 Consumer — — — — — — Total 26 $ 6,077 28 $ 6,576 26 $ 7,645 |
Schedule of Restructured Loans | Below is a table of the newly restructured loans identified in the six months ended June 30, 2014. Troubled Debt Restructurings Identified During the Six Months ended June 30, 2014 Rate Modification Term Modification Interest-only Modification Combination Modification Real estate Multi-family residential $ — $ — $ — $ — Residential 1-4 family — — — — Owner-occupied commercial — — — — Nonowner-occupied commercial — 1,601 — — Total real estate loans — 1,601 — — Construction Multi-family residential — — — — Residential 1-4 family — — — — Commercial real estate — — — — Commercial bare land and acquisition & development — — — — Residential bare land and acquisition & development — — — — Total construction loans — — — — Commercial and other — 280 574 — Consumer — — — — Total $ — $ 1,881 $ 574 $ — |
Dental Loan [Member] | |
Credit Quality Indicators | The following tables present the Company’s dental loan portfolio by market and credit grade at June 30, 2015, December 31, 2014, and June 30, 2014: As of June 30, 2015 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 153,911 $ — $ 2,404 $ — $ 156,315 National 161,764 — 2,976 — 164,740 Total $ 315,675 $ — $ 5,380 $ — $ 321,055 As of December 31, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 156,589 $ — $ 2,836 $ — $ 159,425 National 144,120 — 2,846 — 146,966 Total $ 300,709 $ — $ 5,682 $ — $ 306,391 As of June 30, 2014 Loan Grade Pass Special Mention Substandard Doubtful Totals Local $ 163,049 $ — $ 6,053 $ — $ 169,102 National 132,520 — 1,200 — 133,720 Total $ 295,569 $ — $ 7,253 $ — $ 302,822 |
Aged Analysis of Dental Loans Receivable | The following tables present an aged analysis of the dental loan portfolio by market, including nonaccrual loans, as of June 30, 2015, December 31, 2014, and June 30, 2014: As of June 30, 2015 30-59 Days Past Due Still Accruing 60-89 Days Greater Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Total Loans Receivable Local $ 331 $ — $ — $ 536 $ 867 $ 155,448 $ 156,315 National — — — — — 164,740 164,740 Total $ 331 $ — $ — $ 536 $ 867 $ 320,188 $ 321,055 As of December 31, 2014 30-59 Days Past Due Still Accruing 60-89 Days Still Accruing Greater Than 90 Days Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Local $ 327 $ — $ — $ 597 $ 924 $ 158,501 $ 159,425 National — — — — — 146,966 146,966 Total $ 327 $ — $ — $ 597 $ 924 $ 305,467 $ 306,391 As of June 30, 2014 30-59 Days Past Due Still Accruing 60-89 Days Past Due Still Accruing Greater Past Due Still Accruing Nonaccrual Total Past Due and Nonaccrual Total Current Total Loans Receivable Local $ — $ — $ — $ 1,028 $ 1,028 $ 168,074 $ 169,102 National — — — 222 222 133,498 133,720 Total $ — $ — $ — $ 1,250 $ 1,250 $ 301,572 $ 302,822 |
Dental Loan Portfolio (Tables)
Dental Loan Portfolio (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Major Classifications of Dental Loans | Major classifications of dental loans at June 30, 2015, December 31, 2014, and June 30, 2014, were as follows: June 30, December 31, June 30, 2014 Real estate secured loans: Owner-occupied commercial $ 59,819 $ 60,092 $ 61,452 Other dental real estate loans 2,596 2,785 2,663 Total permanent real estate loans 62,415 62,877 64,115 Dental construction loans 2,033 604 388 Total real estate loans 64,448 63,481 64,503 Commercial loans 256,607 242,910 238,319 Gross loans $ 321,055 $ 306,391 $ 302,822 |
Dental Loan Total by Market | The following table summarizes the Company’s dental lending by borrower location: June 30, December 31, June 30, 2014 Local $ 156,315 $ 159,425 $ 169,102 National 164,740 146,966 133,720 Total $ 321,055 $ 306,391 $ 302,822 |
Dental Portfolio Allowance Activity | The specific component is based upon dental loans individually evaluated for impairment. Three months ended Six months ended 2015 2014 2015 2014 Balance, beginning of period $ 3,912 $ 3,901 $ 4,141 $ 3,730 Provision (reclassification) 198 217 3 795 Loans charged against allowance (42 ) (31 ) (84 ) (447 ) Recoveries credited to allowance 12 49 20 58 Balance, end of period $ 4,080 $ 4,136 $ 4,080 $ 4,136 |
Federal Home Loan Bank Borrow22
Federal Home Loan Bank Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Summary of Outstanding FHLB Borrowings by Maturity and Applicable Interest Rate | Below is a summary of outstanding FHLB borrowings by maturity. Current Rates June 30, 2015 Cash management advance NA $ — 2014 — — 2015 0.29% - 1.60% 56,500 2016 1.84% - 2.36% 22,500 2017 2.28% 3,000 2018 — — 2019 — — Thereafter 3.85% 2,000 $ 84,000 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Shares and Aggregate Grant-Date Fair Market Values | The following table summarizes the shares and the aggregate grant-date fair market values of the equity-based awards granted during the six months ended June 30, 2015: Six months ended June 30, 2015 June 30, 2014 Shares Grant Date Shares Grant Date Equity-based awards: Director restricted stock 19,185 $ 248 14,996 $ 200 Employee stock options — — — — Employee stock SARs — — — — Employee RSUs 155,898 2,206 127,051 1,679 175,083 $ 2,454 142,047 $ 1,879 |
Summary of RSU Activity | The following table provides a summary of the Company’s RSU activity, including the weighted average grant date fair value per share, for the six months ended June 30, 2015: Six months ended June 30, 2015 Non-Vested Weighted Average Balance, beginning of period $ 306,532 $ 11.18 Granted 155,898 13.00 Vested shares issued (75,373 ) 10.59 Vested shares surrendered for taxes (46,105 ) 10.59 Forfeited or expired (4,847 ) 11.86 Balance, end of period $ 336,105 $ 12.23 |
Schedule of Compensation Expenses and Tax Benefits | The following table identifies the compensation expense recorded and tax benefits received by the Company on its share-based compensation plans for the three and six months ended June 30, 2015, and 2014: Three months ended June 30, 2015 2014 Compensation Expense (Income) Tax Benefit (expense) Compensation Expense Tax Benefit Equity-based awards: Director restricted stock $ 248 $ 94 $ 200 $ 76 Employee RSUs 376 143 331 126 Liability-based awards: Employee cash SARs (50 ) (19 ) 15 6 $ 574 $ 218 $ 546 $ 208 Six months ended June 30, 2015 2014 Compensation Tax Benefit Compensation Tax Benefit Equity-based awards: Director restricted stock $ 248 $ 94 $ 200 $ 76 Employee stock options — — 13 — Employee stock SARs — — 26 10 Employee RSUs 708 269 561 213 Liability-based awards: Employee cash SARs (50 ) (19 ) 70 27 $ 906 $ 344 $ 870 $ 326 |
Summary of Stock Options, Employee Stock SARs, and Employee Cash SARs Exercised | The following table identifies stock options, employee stock SARs, and employee cash SARs exercised during the three and six months ended June 30, 2015: Three months ended June 30, 2015 Number Exercised Weighted Average Exercise Price Intrinsic Value Number of Issued Net Cash Payment to Employees Stock options — $ — $ — — NA Employee stock SARs 600 $ 11.30 $ 1 52 NA Employee cash SARs — $ — NA NA $ — Six months ended June 30, 2015 Number Weighted Intrinsic Number of Net Cash Stock options 1,102 $ 12.25 $ 2 1,102 NA Employee stock SARs 1,213 $ 11.50 $ 1 92 NA Employee cash SARs 208 $ 12.07 NA NA $ — The following table identifies stock options, employee stock SARs, and employee cash SARs exercised during the three and six months ended June 30, 2014: Three months ended June 30, 2014 Number Weighted Intrinsic Number of Net Cash Stock options — $ — $ — — NA Employee stock SARs 1,961 $ 11.53 $ 3 189 NA Employee cash SARs 2,219 $ 12.07 NA NA $ 3 Six months ended June 30, 2014 Number Weighted Intrinsic Number of Net Cash Stock options 16,779 $ 11.29 $ 57 — NA Employee stock SARs 14,140 $ 11.86 $ 25 1,629 NA Employee cash SARs 6,445 $ 12.21 NA NA $ 8 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents estimated fair values of the Company’s financial instruments as of June 30, 2015, December 31, 2014, and June 30, 2014, in accordance with the provisions of FASB ASC 825 “Financial Instruments.” The use of different assumptions and estimation methods could have a significant effect on the reported fair value amounts. Accordingly, the estimates of fair value herein are not necessarily indicative of the amounts that might be realized in a current market exchange. June 30, 2015 December 31, 2014 June 30, 2014 Carrying Fair Value Carrying Amount Fair Value Carrying Fair Value Financial assets: Cash and cash equivalents $ 39,602 $ 39,602 $ 25,787 $ 25,787 $ 43,443 $ 43,443 Securities available-for-sale 383,618 383,618 351,946 351,946 344,645 344,645 Loans 1,304,932 1,289,072 1,045,021 1,033,254 1,030,021 1,015,721 Federal Home Loan Bank stock 5,468 5,468 10,019 10,019 10,227 10,227 Interest receivable 5,833 5,833 4,773 4,773 5,101 5,101 Bank-owned life insurance 22,571 22,571 16,609 16,609 16,370 16,370 Swap derivative 117 117 176 176 218 218 Financial liabilities: Deposits $ 1,514,181 $ 1,514,255 $ 1,209,093 $ 1,209,240 $ 1,132,654 $ 1,132,917 Federal funds and overnight funds purchased 5,500 5,500 — — 6,410 6,410 Federal Home Loan Bank borrowings 84,000 84,587 96,000 96,721 164,500 165,502 Junior subordinated debentures 8,248 2,494 8,248 2,410 8,248 2,326 Interest payable 170 170 176 176 170 170 |
Fair Value Hierarchy for Assets and Liabilities Not Measured at Fair Value | The following table presents information about the level in the fair value hierarchy for the Company’s assets and liabilities not measured and carried at fair value as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value at June 30, 2015 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 39,602 $ 39,602 $ — $ — Loans 1,304,932 — — 1,289,072 Federal Home Loan Bank stock 5,468 5,468 — — Interest receivable 5,833 5,833 — — Financial liabilities: Deposits $ 1,514,181 $ — $ 1,514,255 $ — Federal funds and overnight funds purchased 5,500 5,500 — — Federal Home Loan Bank borrowings 84,000 — 84,587 — Junior subordinated debentures 8,248 — 2,494 — Interest payable 170 170 — — Carrying Fair Value at December 31, 2014 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 25,787 $ 25,787 $ — $ — Loans 1,045,021 — — 1,033,254 Federal Home Loan Bank stock 10,019 10,019 — — Interest payable 4,773 4,773 — — Financial liabilities: Deposits $ 1,209,093 $ — $ 1,209,240 $ — Federal funds and overnight funds purchased — — — — Federal Home Loan Bank borrowings 96,000 — 96,721 — Junior subordinated debentures 8,248 — 2,410 — Interest payable 176 176 — — Carrying Fair Value at June 30, 2014 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 43,443 $ 43,443 $ — $ — Loans 1,030,021 — — 1,015,721 Federal Home Loan Bank stock 10,227 10,227 — — Interest payable 5,101 5,101 — — Financial liabilities: Deposits $ 1,132,654 $ — $ 1,132,917 $ — Federal funds and overnight funds purchased 6,410 6,410 — — Federal Home Loan Bank borrowings 164,500 — 165,502 — Junior subordinated debentures 8,248 — 2,326 — Interest payable 170 170 — — |
Assets Measured at Fair Value on Recurring Basis | The tables below show assets measured at fair value on a recurring basis as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value at June 30, 2015 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 55,796 $ — $ 55,796 $ — Obligations of states and political subdivisions 87,387 — 87,387 — Mortgage-backed securities 202,114 — 202,114 — Private-label mortgage-backed securities 3,334 — 1,551 1,783 SBA pools 34,089 — 34,089 — Corporate securities 898 — 898 — Swap derivative 117 117 — — Total assets measured on a recurring basis $ 383,735 $ 117 $ 381,835 $ 1,783 Carrying Fair Value at December 31, 2014 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 39,185 $ — $ 39,185 $ — Obligations of states and political subdivisions 83,981 — 83,981 — Mortgage-backed securities 205,390 — 205,390 — Private-label mortgage-backed securities 3,816 — 2,248 1,568 SBA pools 19,574 — 19,574 — Swap derivative 176 176 — — Total assets measured on a recurring basis $ 352,122 $ 176 $ 350,378 $ 1,568 Fair Value at June 30, 2014 Value Level 1 Level 2 Level 3 Available-for-sale securities Obligations of U.S. government agencies $ 37,162 $ — $ 37,162 $ — Obligations of states and political subdivisions 81,680 — 81,680 — Mortgage-backed securities 212,720 — 212,720 — Private-label mortgage-backed securities 4,443 — 2,750 1,693 SBA pools 8,640 — 8,640 — Swap derivative 218 218 — — Total assets measured on a recurring basis $ 344,863 $ 218 $ 342,952 $ 1,693 |
Reconciliation of Private-Label Mortgage-Backed Securities Measured at Fair Value on Recurring Basis | The following table provides a reconciliation of private-label mortgage-backed securities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three and six months ended June 30, 2015, and 2014: Three months ended Six months ended 2015 2014 2015 2014 Beginning balance $ 1,545 $ 1,774 $ 1,568 $ 1,786 Transfers from level 2 300 — 300 — Transfers out of Level 3 — — — — Total gains or losses Included in earnings (13 ) — (13 ) — Included in other comprehensive income 29 (61 ) 68 (11 ) Paydowns (78 ) (20 ) (140 ) (82 ) Purchases, issuances, sales and settlements Purchases — — — — Issuances — — — — Sales — — — — Settlements — — — — Ending balance $ 1,783 $ 1,693 $ 1,783 $ 1,693 |
Assets Measured at Fair Value on Nonrecurring Basis | The tables below show assets measured at fair value on a nonrecurring basis as of June 30, 2015, December 31, 2014, and June 30, 2014: Carrying Fair Value June 30, 2015 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 3,041 $ — $ — $ 3,041 Other real estate owned 12,666 — — 12,666 Total $ 15,707 $ — $ — $ 15,707 Carrying Fair Value December 31, 2014 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 3,110 $ — $ — $ 3,110 Other real estate owned 13,374 — — 13,374 Total $ 16,484 $ — $ — $ 16,484 Carrying Fair Value June 30, 2014 Value Level 1 Level 2 Level 3 Loans measured for impairment (net of government guarantees and specific reserves) $ 5,298 $ — $ — $ 5,298 Other real estate owned 11,531 — — 11,531 Total $ 16,829 $ — $ — $ 16,829 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements | To be categorized as well-capitalized, the Bank must maintain minimum Total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following table. To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of June 30, 2015: Total capital (to risk weighted assets) Bank: $ 191,401 12.84 % $ 119,216 8.00 % $ 149,020 10.00 % Company: $ 191,999 12.88 % NA NA Tier 1 capital (to risk (to risk weighted assets) Bank: $ 175,003 11.74 % $ 89,412 6.00 % $ 119,216 8.00 % Company: $ 175,601 11.78 % NA NA Common Equity Tier 1 (to risk weighted assets) Bank: $ 175,003 11.74 % $ 67,059 4.50 % $ 96,863 6.50 % Company: $ 168,029 11.27 % NA NA Tier 1 leverage ratio (to leverage assets) Bank: $ 175,003 9.97 % $ 70,190 4.00 % $ 74,510 5.00 % Company: $ 175,601 10.01 % NA NA As of December 31, 2014: Total capital (to risk weighted assets) Bank: $ 176,199 15.48 % $ 91,040 8.00 % $ 113,800 10.00 % Company: $ 179,109 15.73 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 161,954 14.23 % $ 45,520 4.00 % $ 68,280 6.00 % Company: $ 164,864 14.48 % NA NA Tier 1 capital (to leverage assets) Bank: $ 161,954 11.13 % $ 58,193 4.00 % $ 72,741 5.00 % Company: $ 164,864 11.33 % NA NA As of June 30, 2014: Total capital (to risk weighted assets) Bank: $ 173,819 15.46 % $ 89,938 8.00 % $ 112,422 10.00 % Company: $ 176,940 15.73 % NA NA Tier 1 capital (to risk weighted assets) Bank: $ 159,744 14.21 % $ 44,969 4.00 % $ 67,453 6.00 % Company: $ 162,865 14.48 % NA NA Tier 1 capital (to leverage assets) Bank: $ 159,744 11.05 % $ 57,829 4.00 % $ 72,286 5.00 % Company: $ 162,865 11.26 % NA NA |
Securities Available-for-Sale -
Securities Available-for-Sale - Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | $ 377,931 | $ 345,889 | $ 338,769 |
Gross Unrealized Gains | 6,637 | 7,046 | 7,091 |
Gross Unrealized Losses | (950) | (989) | (1,215) |
Estimated Fair Value | 383,618 | 351,946 | 344,645 |
Unrealized Loss Positions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 85,293 | 97,878 | 75,809 |
Gross Unrealized Losses | (950) | (989) | (1,215) |
Estimated Fair Value | 84,343 | 96,889 | 74,594 |
Unrealized Loss Positions [Member] | Obligations of U.S. government agencies [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 10,991 | 7,573 | 2,998 |
Gross Unrealized Losses | (142) | (72) | (45) |
Estimated Fair Value | 10,849 | 7,501 | 2,953 |
Unrealized Loss Positions [Member] | Obligations of states and political subdivisions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 25,658 | 11,755 | 23,272 |
Gross Unrealized Losses | (475) | (253) | (586) |
Estimated Fair Value | 25,183 | 11,502 | 22,686 |
Unrealized Loss Positions [Member] | Private-label mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 484 | 847 | 1,246 |
Gross Unrealized Losses | (39) | (64) | (64) |
Estimated Fair Value | 445 | 783 | 1,182 |
Unrealized Loss Positions [Member] | Mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 37,982 | 64,644 | 43,063 |
Gross Unrealized Losses | (238) | (544) | (480) |
Estimated Fair Value | 37,744 | 64,100 | 42,583 |
Unrealized Loss Positions [Member] | SBA variable rate pools [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 10,178 | 13,059 | 5,230 |
Gross Unrealized Losses | (56) | (56) | (40) |
Estimated Fair Value | 10,122 | 13,003 | 5,190 |
Unrealized Gain Positions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 292,638 | 248,011 | 262,960 |
Gross Unrealized Gains | 6,637 | 7,046 | 7,091 |
Estimated Fair Value | 299,275 | 255,057 | 270,051 |
Unrealized Gain Positions [Member] | Obligations of U.S. government agencies [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 44,093 | 31,068 | 33,645 |
Gross Unrealized Gains | 854 | 616 | 565 |
Estimated Fair Value | 44,947 | 31,684 | 34,210 |
Unrealized Gain Positions [Member] | Obligations of states and political subdivisions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 59,639 | 69,172 | 56,275 |
Gross Unrealized Gains | 2,565 | 3,307 | 2,719 |
Estimated Fair Value | 62,204 | 72,479 | 58,994 |
Unrealized Gain Positions [Member] | Private-label mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 2,738 | 2,924 | 3,154 |
Gross Unrealized Gains | 151 | 109 | 107 |
Estimated Fair Value | 2,889 | 3,033 | 3,261 |
Unrealized Gain Positions [Member] | Mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 161,415 | 138,306 | 166,464 |
Gross Unrealized Gains | 2,955 | 2,984 | 3,672 |
Estimated Fair Value | 164,370 | 141,290 | 170,136 |
Unrealized Gain Positions [Member] | SBA variable rate pools [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 23,855 | 6,541 | 3,422 |
Gross Unrealized Gains | 112 | 30 | 28 |
Estimated Fair Value | 23,967 | $ 6,571 | $ 3,450 |
Corporate bonds [Member] | Unrealized Gain Positions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 898 | ||
Estimated Fair Value | $ 898 |
Securities Available-for-Sale27
Securities Available-for-Sale - Additional Information (Detail) $ in Thousands | Jun. 30, 2015USD ($)Securities | Dec. 31, 2014USD ($)Securities | Jun. 30, 2014USD ($)Securities | Jun. 30, 2015USD ($)Securities | Jun. 30, 2014USD ($)Securities | Jun. 30, 2015USD ($)Securities |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Investment securities in unrealized loss positions, number of positions | 82 | 71 | 392 | 82 | 392 | 82 |
Available for sale securities number of securities | 446 | 409 | 81 | 446 | 81 | 446 |
Other-than-temporary impairment | $ | $ 13 | $ 13 | ||||
Number of private-label mortgage-backed securities | 1 | 1 | 1 | |||
Amortized Cost | $ | $ 377,931 | $ 345,889 | $ 338,769 | $ 377,931 | $ 338,769 | $ 377,931 |
Projected average life of securities portfolio | 4 years 1 month 28 days | |||||
Number of investment securities sold | 13 | |||||
Securities sold, book value | $ | 7,574 | $ 7,574 | $ 7,574 | |||
Gross realized gain (loss) from investment securities sold | $ | 139 | |||||
Balance of repurchase agreement | $ | 368 | 93 | 0 | |||
Substandard [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Amortized Cost | $ | $ 1,702 | $ 1,879 | $ 2,050 | $ 1,702 | $ 2,050 | $ 1,702 |
Private-label mortgage-backed securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of private-label mortgage-backed securities | 1 | 1 | ||||
Securities sold, book value | $ | $ 238 | $ 238 | ||||
Gross realized gain (loss) from investment securities sold | $ | $ (100) | |||||
Private-label mortgage-backed securities [Member] | Substandard [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of private-label mortgage-backed securities | 6 | 6 | 6 | |||
Mortgage-backed securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of investment securities sold | 3 | |||||
Obligations of states and political subdivisions [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Number of investment securities sold | 10 |
Securities Available-for-Sale28
Securities Available-for-Sale - Schedule of Investment Securities in Continuous Unrealized Loss Position (Detail) - Unrealized Loss Positions [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | $ 72,916 | $ 19,338 | $ 59,589 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 673 | 94 | 287 |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 11,427 | 55,256 | 37,299 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | 277 | 1,121 | 702 |
Obligations of U.S. government agencies [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | 9,367 | 4,564 | |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 124 | 10 | |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 1,482 | 2,953 | 2,936 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | 18 | 45 | 62 |
Obligations of states and political subdivisions [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | 22,229 | 5,515 | 2,620 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 350 | 24 | 39 |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 2,954 | 17,171 | 8,883 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | 125 | 562 | 214 |
Private-label mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | 329 | 303 | |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 3 | 12 | |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 445 | 854 | 480 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | 39 | 61 | 52 |
Mortgage-backed securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | 32,020 | 8,305 | 40,269 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 144 | 27 | 177 |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 5,724 | 34,278 | 23,831 |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | 94 | 453 | 367 |
SBA variable rate pools [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities in Continuous Unrealized Loss Position for Less Than 12 Months | 9,300 | 5,189 | 11,833 |
Gross Unrealized Loss on Securities in Loss Position for Less Than 12 Months | 55 | $ 40 | 49 |
Securities in Continuous Unrealized Loss Position for 12 Months or Longer | 822 | 1,169 | |
Gross Unrealized Loss on Securities in Loss Position for 12 Months or Longer | $ 1 | $ 7 |
Securities Available-for-Sale29
Securities Available-for-Sale - Schedule of Roll-Forward Aggregate Amount of Credit-Related OTTI (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands | Total | Total |
Investments, Debt and Equity Securities [Abstract] | ||
Balance, beginning of period: | $ 227 | $ 227 |
Initial OTTI credit loss | 13 | 13 |
Balance, end of period: | $ 240 | $ 240 |
Securities Available-for-Sale30
Securities Available-for-Sale - Schedule of Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Investments, Debt and Equity Securities [Abstract] | |||
Due in one year or less, Amortized Cost | $ 11,439 | ||
Due after one year through 5 years, Amortized Cost | 224,645 | ||
Due after 5 years through 10 years, Amortized Cost | 108,956 | ||
Due after 10 years, Amortized Cost | 32,891 | ||
Amortized Cost | 377,931 | $ 345,889 | $ 338,769 |
Due in one year or less, Estimated Fair Value | 11,554 | ||
Due after one year through 5 years, Estimated Fair Value | 227,738 | ||
Due after 5 years through 10 years, Estimated Fair Value | 111,045 | ||
Due after 10 years, Estimated Fair Value | 33,281 | ||
Estimated Fair Value | $ 383,618 | $ 351,946 | $ 344,645 |
Securities Available-for-Sale31
Securities Available-for-Sale - Schedule of Investment Securities Pledged to Secure Public Deposits and Repurchase Agreements (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | $ 377,931 | $ 345,889 | $ 338,769 |
Collateral Pledged [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 42,960 | 35,913 | 25,597 |
Estimated fair Value | 44,014 | 36,864 | 25,964 |
Collateral Pledged [Member] | Securities pledged as collateral [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 30,048 | 31,937 | 23,123 |
Estimated fair Value | 30,777 | 32,802 | 23,416 |
Collateral Pledged [Member] | Repurchase accounts [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost | 12,912 | 3,976 | 2,474 |
Estimated fair Value | $ 13,237 | $ 4,062 | $ 2,548 |
Loans, Allowance for Loan Los32
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Loan Classifications (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 1,306,147 | $ 1,031,129 | $ 1,046,011 |
Deferred loan origination fees | (1,215) | (1,108) | (990) |
Gross loans, net of deferred income | 1,304,932 | 1,030,021 | 1,045,021 |
Allowance for loan losses | (16,013) | (15,675) | (15,637) |
Total loans, net of allowance for loan losses and net deferred fees | $ 1,288,919 | $ 1,014,346 | $ 1,029,384 |
Percentage of gross loans | 100.00% | 100.00% | 100.00% |
Commercial loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 459,458 | $ 392,810 | $ 406,568 |
Percentage of gross loans | 35.18% | 38.10% | 38.87% |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 3,783 | $ 3,410 | $ 3,862 |
Percentage of gross loans | 0.29% | 0.33% | 0.37% |
Other loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 5,025 | $ 1,207 | $ 1,443 |
Percentage of gross loans | 0.38% | 0.12% | 0.14% |
Real estate loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 746,543 | $ 534,857 | $ 560,171 |
Real estate loans [Member] | Multi-family residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | 68,289 | 50,867 | 51,586 |
Real estate loans [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | 57,112 | 46,287 | 47,222 |
Real estate loans [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | 346,065 | 255,562 | 259,805 |
Real estate loans [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | 275,077 | 182,141 | 201,558 |
Real estate secured loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 837,881 | $ 633,702 | $ 634,138 |
Percentage of gross loans | 64.15% | 61.45% | 60.62% |
Real estate secured loans [Member] | Real estate loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 746,543 | $ 534,857 | $ 560,171 |
Percentage of gross loans | 57.16% | 51.86% | 53.55% |
Real estate secured loans [Member] | Real estate loans [Member] | Multi-family residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 68,289 | $ 50,867 | $ 51,586 |
Percentage of gross loans | 5.23% | 4.93% | 4.93% |
Real estate secured loans [Member] | Real estate loans [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 57,112 | $ 46,287 | $ 47,222 |
Percentage of gross loans | 4.37% | 4.49% | 4.51% |
Real estate secured loans [Member] | Real estate loans [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 346,065 | $ 255,562 | $ 259,805 |
Percentage of gross loans | 26.50% | 24.78% | 24.84% |
Real estate secured loans [Member] | Real estate loans [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 275,077 | $ 182,141 | $ 201,558 |
Percentage of gross loans | 21.06% | 17.66% | 19.27% |
Real estate secured loans [Member] | Construction loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 91,338 | $ 98,845 | $ 73,967 |
Percentage of gross loans | 6.99% | 9.59% | 7.07% |
Real estate secured loans [Member] | Construction loans [Member] | Multi-family residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 6,590 | $ 19,539 | $ 8,472 |
Percentage of gross loans | 0.50% | 1.89% | 0.81% |
Real estate secured loans [Member] | Construction loans [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 30,145 | $ 33,951 | $ 28,109 |
Percentage of gross loans | 2.31% | 3.29% | 2.69% |
Real estate secured loans [Member] | Construction loans [Member] | Commercial real estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 31,659 | $ 28,019 | $ 18,595 |
Percentage of gross loans | 2.42% | 2.72% | 1.78% |
Real estate secured loans [Member] | Construction loans [Member] | Commercial bare land and acquisition & development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 15,870 | $ 11,096 | $ 12,159 |
Percentage of gross loans | 1.22% | 1.08% | 1.16% |
Real estate secured loans [Member] | Construction loans [Member] | Residential bare land and acquisition & development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Gross loans | $ 7,074 | $ 6,240 | $ 6,632 |
Percentage of gross loans | 0.54% | 0.61% | 0.63% |
Loans, Allowance for Loan Los33
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Additional Information (Detail) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2015USD ($)RiskRatingContractTDRs | Jun. 30, 2014USD ($)Contract | Dec. 31, 2014USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Guarantor Obligations [Line Items] | ||||||
Percentage of total outstanding loans | 24.58% | 29.37% | 29.29% | |||
Percentage of total loan portfolio | 10.00% | |||||
Percentage of loan portfolio collateralized by real estate | 64.15% | |||||
Allowance for loan losses | $ 16,013,000 | $ 15,675,000 | $ 15,637,000 | $ 15,724,000 | $ 15,394,000 | $ 15,917,000 |
Loan unfunded commitments on classified loans | 1,077,000 | 417,000 | 562,000 | |||
Interest income recognized in the period | 0 | |||||
Government guarantees | 1,539,000 | 1,151,000 | 1,123,000 | |||
Recorded investment in impaired loans, net of government guarantees | 6,794,000 | 9,531,000 | 6,856,000 | |||
Recorded investment in nonaccrual status | $ 3,638,000 | $ 4,931,000 | 2,695,000 | |||
Identified TDRs newly considered for impairment | TDRs | 0 | |||||
Newly restructured loans identified | Contract | 0 | |||||
TDRs that subsequently defaulted within the first twelve months of restructure | Contract | 0 | 0 | ||||
Commitments to lend additional funds on loans restructured as TDRs | $ 0 | $ 0 | 0 | |||
Troubled Debt Restructurings [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Recorded investment in nonaccrual status | 1,730,000 | 2,260,000 | 1,649,000 | |||
Dental Loan [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Outstanding loans to dental professionals | 321,055,000 | 302,822,000 | 306,391,000 | |||
Allowance for loan losses | $ 4,080,000 | $ 4,136,000 | $ 4,141,000 | $ 3,912,000 | $ 3,901,000 | $ 3,730,000 |
Minimum [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Internal risk rating | RiskRating | 1 | |||||
Maximum [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Internal risk rating | RiskRating | 10 |
Loans, Allowance for Loan Los34
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Allowance for Loan Losses Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Receivables [Abstract] | ||||
Balance, beginning of period | $ 15,724 | $ 15,394 | $ 15,637 | $ 15,917 |
Provision charged to income | 550 | 550 | ||
Loans charged against allowance | (454) | (30) | (527) | (631) |
Recoveries credited to allowance | 193 | 311 | 353 | 389 |
Balance, end of period | $ 16,013 | $ 15,675 | $ 16,013 | $ 15,675 |
Loans, Allowance for Loan Los35
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Summary of Allowance for Credit Losses Activity by Loan Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | $ 15,724 | $ 15,394 | $ 15,637 | $ 15,917 | |
Charge-offs | (454) | (30) | (527) | (631) | |
Recoveries | 193 | 311 | 353 | 389 | |
Provision (reclassification) | 550 | 550 | |||
Balance, end of period | 16,013 | 15,675 | 16,013 | 15,675 | |
Ending allowance: collectively evaluated for impairment | 15,796 | 15,532 | 15,796 | 15,532 | $ 15,392 |
Ending allowance: individually evaluated for impairment | 217 | 143 | 217 | 143 | 245 |
Total ending allowance | 16,013 | 15,675 | 16,013 | 15,675 | 15,637 |
Ending loan balance: collectively evaluated for impairment | 1,297,814 | 1,020,447 | 1,297,814 | 1,020,447 | 1,038,032 |
Ending loan balance: individually evaluated for impairment | 8,333 | 10,682 | 8,333 | 10,682 | 7,979 |
Total ending loan balance | 1,306,147 | 1,031,129 | 1,306,147 | 1,031,129 | 1,046,011 |
Commercial and Other [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 5,550 | 5,733 | |||
Charge-offs | (454) | (485) | |||
Recoveries | 183 | 287 | |||
Provision (reclassification) | 622 | 366 | |||
Balance, end of period | 5,901 | 5,901 | |||
Ending allowance: collectively evaluated for impairment | 5,847 | 5,580 | 5,847 | 5,580 | 5,662 |
Ending allowance: individually evaluated for impairment | 54 | 16 | 54 | 16 | 71 |
Total ending allowance | 5,901 | 5,596 | 5,901 | 5,596 | 5,733 |
Ending loan balance: collectively evaluated for impairment | 462,287 | 389,823 | 462,287 | 389,823 | 405,414 |
Ending loan balance: individually evaluated for impairment | 2,196 | 4,194 | 2,196 | 4,194 | 2,597 |
Total ending loan balance | 464,483 | 394,017 | 464,483 | 394,017 | 408,011 |
Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 7,537 | 7,494 | |||
Charge-offs | (42) | ||||
Recoveries | 3 | 48 | |||
Provision (reclassification) | 124 | 164 | |||
Balance, end of period | 7,664 | 7,664 | |||
Ending allowance: collectively evaluated for impairment | 7,610 | 7,423 | 7,610 | 7,423 | 7,438 |
Ending allowance: individually evaluated for impairment | 54 | 6 | 54 | 6 | 56 |
Total ending allowance | 7,664 | 7,429 | 7,664 | 7,429 | 7,494 |
Ending loan balance: collectively evaluated for impairment | 740,753 | 528,734 | 740,753 | 528,734 | 555,146 |
Ending loan balance: individually evaluated for impairment | 5,790 | 6,123 | 5,790 | 6,123 | 5,025 |
Total ending loan balance | 746,543 | 534,857 | 746,543 | 534,857 | 560,171 |
Construction [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 1,062 | 1,077 | |||
Recoveries | 3 | 8 | |||
Provision (reclassification) | 46 | 26 | |||
Balance, end of period | 1,111 | 1,111 | |||
Ending allowance: collectively evaluated for impairment | 1,002 | 1,219 | 1,002 | 1,219 | 959 |
Ending allowance: individually evaluated for impairment | 109 | 121 | 109 | 121 | 118 |
Total ending allowance | 1,111 | 1,340 | 1,111 | 1,340 | 1,077 |
Ending loan balance: collectively evaluated for impairment | 90,991 | 98,480 | 90,991 | 98,480 | 73,610 |
Ending loan balance: individually evaluated for impairment | 347 | 365 | 347 | 365 | 357 |
Total ending loan balance | 91,338 | 98,845 | 91,338 | 98,845 | 73,967 |
Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 52 | 54 | |||
Recoveries | 4 | 10 | |||
Provision (reclassification) | (4) | (12) | |||
Balance, end of period | 52 | 52 | |||
Ending allowance: collectively evaluated for impairment | 52 | 59 | 52 | 59 | 54 |
Total ending allowance | 52 | 59 | 52 | 59 | 54 |
Ending loan balance: collectively evaluated for impairment | 3,783 | 3,410 | 3,783 | 3,410 | 3,862 |
Total ending loan balance | 3,783 | 3,410 | 3,783 | 3,410 | 3,862 |
Unallocated [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Balance, beginning of period | 1,523 | 1,279 | |||
Provision (reclassification) | (238) | 6 | |||
Balance, end of period | 1,285 | 1,285 | |||
Ending allowance: collectively evaluated for impairment | 1,285 | 1,251 | 1,285 | 1,251 | 1,279 |
Total ending allowance | $ 1,285 | $ 1,251 | $ 1,285 | $ 1,251 | $ 1,279 |
Loans, Allowance for Loan Los36
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Credit Quality Indicators (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | $ 1,306,147 | $ 1,046,011 | $ 1,031,129 |
Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 746,543 | 560,171 | 534,857 |
Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 91,338 | 73,967 | 98,845 |
Multi-family residential [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 68,289 | 51,586 | 50,867 |
Multi-family residential [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 6,590 | 8,472 | 19,539 |
Residential 1-4 family [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 57,112 | 47,222 | 46,287 |
Residential 1-4 family [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 30,145 | 28,109 | 33,951 |
Owner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 346,065 | 259,805 | 255,562 |
Nonowner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 275,077 | 201,558 | 182,141 |
Commercial real estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 31,659 | 18,595 | 28,019 |
Commercial bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 15,870 | 12,159 | 11,096 |
Residential bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 7,074 | 6,632 | 6,240 |
Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 464,483 | 408,011 | 394,017 |
Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 3,783 | 3,862 | 3,410 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 1,265,138 | 1,013,576 | 992,078 |
Pass [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 721,085 | 541,707 | 510,217 |
Pass [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 89,353 | 72,097 | 97,862 |
Pass [Member] | Multi-family residential [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 66,793 | 50,074 | 49,341 |
Pass [Member] | Multi-family residential [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 6,590 | 8,472 | 19,539 |
Pass [Member] | Residential 1-4 family [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 49,551 | 39,527 | 38,453 |
Pass [Member] | Residential 1-4 family [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 30,073 | 28,109 | 33,951 |
Pass [Member] | Owner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 334,002 | 254,166 | 244,255 |
Pass [Member] | Nonowner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 270,739 | 197,940 | 178,168 |
Pass [Member] | Commercial real estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 30,512 | 17,645 | 28,019 |
Pass [Member] | Commercial bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 15,586 | 11,917 | 10,866 |
Pass [Member] | Residential bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 6,592 | 5,954 | 5,487 |
Pass [Member] | Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 450,918 | 395,918 | 380,601 |
Pass [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 3,782 | 3,854 | 3,398 |
Special Mention [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 4,219 | ||
Special Mention [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 4,219 | ||
Special Mention [Member] | Owner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 4,219 | ||
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 41,009 | 32,435 | 34,832 |
Substandard [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 25,458 | 18,464 | 20,421 |
Substandard [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 1,985 | 1,870 | 983 |
Substandard [Member] | Multi-family residential [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 1,496 | 1,512 | 1,526 |
Substandard [Member] | Residential 1-4 family [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 7,561 | 7,695 | 7,834 |
Substandard [Member] | Residential 1-4 family [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 72 | ||
Substandard [Member] | Owner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 12,063 | 5,639 | 7,088 |
Substandard [Member] | Nonowner-occupied commercial [Member] | Real estate loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 4,338 | 3,618 | 3,973 |
Substandard [Member] | Commercial real estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 1,147 | 950 | |
Substandard [Member] | Commercial bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 284 | 242 | 230 |
Substandard [Member] | Residential bare land and acquisition & development [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 482 | 678 | 753 |
Substandard [Member] | Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | 13,565 | 12,093 | 13,416 |
Substandard [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loan Grade | $ 1 | $ 8 | $ 12 |
Loans, Allowance for Loan Los37
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Aged Analysis of Dental Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | $ 3,638 | $ 2,695 | $ 4,931 |
Total Past Due and Nonaccrual | 6,119 | 4,200 | 5,745 |
Total Current | 1,300,028 | 1,041,811 | 1,025,384 |
Total ending loan balance | 1,306,147 | 1,046,011 | 1,031,129 |
Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 955 | 869 | 2,047 |
Total Past Due and Nonaccrual | 1,641 | 1,196 | 2,294 |
Total Current | 462,842 | 406,815 | 391,723 |
Total ending loan balance | 464,483 | 408,011 | 394,017 |
Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due and Nonaccrual | 6 | 5 | 9 |
Total Current | 3,777 | 3,857 | 3,401 |
Total ending loan balance | 3,783 | 3,862 | 3,410 |
30 to 59 Days Past Due Still Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 2,143 | 1,504 | 47 |
30 to 59 Days Past Due Still Accruing [Member] | Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 686 | 327 | |
30 to 59 Days Past Due Still Accruing [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 6 | 4 | 9 |
60 to 89 Days Past Due Still Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 338 | 1 | 767 |
60 to 89 Days Past Due Still Accruing [Member] | Commercial and Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 247 | ||
60 to 89 Days Past Due Still Accruing [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 1 | ||
Real estate loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 2,683 | 1,826 | 2,884 |
Total Past Due and Nonaccrual | 4,472 | 2,999 | 3,442 |
Total Current | 742,071 | 557,172 | 531,415 |
Total ending loan balance | 746,543 | 560,171 | 534,857 |
Real estate loans [Member] | Multi-family residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 68,289 | 51,586 | 50,867 |
Total ending loan balance | 68,289 | 51,586 | 50,867 |
Real estate loans [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 688 | 321 | 473 |
Total Past Due and Nonaccrual | 861 | 889 | 473 |
Total Current | 56,251 | 46,333 | 45,814 |
Total ending loan balance | 57,112 | 47,222 | 46,287 |
Real estate loans [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 1,117 | 599 | 1,703 |
Total Past Due and Nonaccrual | 2,733 | 599 | 1,703 |
Total Current | 343,332 | 259,206 | 253,859 |
Total ending loan balance | 346,065 | 259,805 | 255,562 |
Real estate loans [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccrual | 878 | 906 | 708 |
Total Past Due and Nonaccrual | 878 | 1,511 | 1,266 |
Total Current | 274,199 | 200,047 | 180,875 |
Total ending loan balance | 275,077 | 201,558 | 182,141 |
Real estate loans [Member] | 30 to 59 Days Past Due Still Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 1,451 | 1,173 | 38 |
Real estate loans [Member] | 30 to 59 Days Past Due Still Accruing [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 173 | 568 | |
Real estate loans [Member] | 30 to 59 Days Past Due Still Accruing [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 1,278 | ||
Real estate loans [Member] | 30 to 59 Days Past Due Still Accruing [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 605 | 38 | |
Real estate loans [Member] | 60 to 89 Days Past Due Still Accruing [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 338 | 520 | |
Real estate loans [Member] | 60 to 89 Days Past Due Still Accruing [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 338 | ||
Real estate loans [Member] | 60 to 89 Days Past Due Still Accruing [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 Days Past Due Still Accruing | 520 | ||
Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 91,338 | 73,967 | 98,845 |
Total ending loan balance | 91,338 | 73,967 | 98,845 |
Construction [Member] | Multi-family residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 6,590 | 8,472 | 19,539 |
Total ending loan balance | 6,590 | 8,472 | 19,539 |
Construction [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 30,145 | 28,109 | 33,951 |
Total ending loan balance | 30,145 | 28,109 | 33,951 |
Construction [Member] | Commercial real estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 31,659 | 18,595 | 28,019 |
Total ending loan balance | 31,659 | 18,595 | 28,019 |
Construction [Member] | Commercial bare land and acquisition & development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 15,870 | 12,159 | 11,096 |
Total ending loan balance | 15,870 | 12,159 | 11,096 |
Construction [Member] | Residential bare land and acquisition & development [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Current | 7,074 | 6,632 | 6,240 |
Total ending loan balance | $ 7,074 | $ 6,632 | $ 6,240 |
Loans, Allowance for Loan Los38
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Analysis of Impaired Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | $ 6,608 | $ 9,313 | $ 6,683 |
Recorded Investment With Specific Allowance Valuation | 1,725 | 1,369 | 1,296 |
Recorded Investment | 8,333 | 10,682 | 7,979 |
Unpaid Principal Balance | 9,590 | 16,389 | 8,885 |
Average Recorded Investment | 8,442 | 10,399 | 9,711 |
Related Specific Allowance Valuation | 217 | 143 | 245 |
Commercial and Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | 1,176 | 3,672 | 2,025 |
Recorded Investment With Specific Allowance Valuation | 1,020 | 522 | 572 |
Recorded Investment | 2,196 | 4,194 | 2,597 |
Unpaid Principal Balance | 2,559 | 9,333 | 2,946 |
Average Recorded Investment | 2,456 | 4,926 | 3,924 |
Related Specific Allowance Valuation | 54 | 16 | 71 |
Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | 5,432 | 5,641 | 4,658 |
Recorded Investment With Specific Allowance Valuation | 358 | 482 | 367 |
Recorded Investment | 5,790 | 6,123 | 5,025 |
Unpaid Principal Balance | 6,684 | 6,691 | 5,582 |
Average Recorded Investment | 5,607 | 5,101 | 5,422 |
Related Specific Allowance Valuation | 54 | 6 | 56 |
Real Estate [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | 878 | 730 | 564 |
Recorded Investment With Specific Allowance Valuation | 312 | 316 | 313 |
Recorded Investment | 1,190 | 1,046 | 877 |
Unpaid Principal Balance | 1,702 | 1,373 | 1,181 |
Average Recorded Investment | 1,155 | 1,254 | 1,123 |
Related Specific Allowance Valuation | 8 | 4 | 2 |
Real Estate [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | 2,144 | 2,601 | 1,645 |
Recorded Investment With Specific Allowance Valuation | 166 | ||
Recorded Investment | 2,144 | 2,767 | 1,645 |
Unpaid Principal Balance | 2,430 | 3,001 | 1,878 |
Average Recorded Investment | 1,983 | 2,769 | 2,372 |
Related Specific Allowance Valuation | 2 | ||
Real Estate [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Specific Allowance Valuation | 2,410 | 2,310 | 2,449 |
Recorded Investment With Specific Allowance Valuation | 46 | 54 | |
Recorded Investment | 2,456 | 2,310 | 2,503 |
Unpaid Principal Balance | 2,552 | 2,317 | 2,523 |
Average Recorded Investment | 2,469 | 1,078 | 1,927 |
Related Specific Allowance Valuation | 46 | 54 | |
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With Specific Allowance Valuation | 347 | 365 | 357 |
Recorded Investment | 347 | 365 | 357 |
Unpaid Principal Balance | 347 | 365 | 357 |
Average Recorded Investment | 379 | 372 | 365 |
Related Specific Allowance Valuation | 109 | 121 | 118 |
Construction [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 28 | ||
Construction [Member] | Residential bare land and acquisition & development [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With Specific Allowance Valuation | 347 | 365 | 357 |
Recorded Investment | 347 | 365 | 357 |
Unpaid Principal Balance | 347 | 365 | 357 |
Average Recorded Investment | 351 | 372 | 365 |
Related Specific Allowance Valuation | $ 109 | $ 121 | $ 118 |
Loans, Allowance for Loan Los39
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Schedule of Troubled Debt Restructurings by Class (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | Dec. 31, 2014USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 26 | 26 | 28 |
Post-Modification Outstanding Recorded Investment | $ 6,077 | $ 7,645 | $ 6,576 |
Commercial and Other [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 11 | 11 | 12 |
Post-Modification Outstanding Recorded Investment | $ 1,941 | $ 2,553 | $ 2,259 |
Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 15 | 15 | 16 |
Post-Modification Outstanding Recorded Investment | $ 4,136 | $ 5,092 | $ 4,317 |
Real Estate [Member] | Residential 1-4 family [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 6 | 7 | 7 |
Post-Modification Outstanding Recorded Investment | $ 701 | $ 795 | $ 768 |
Real Estate [Member] | Owner-occupied commercial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 2 | 5 | 2 |
Post-Modification Outstanding Recorded Investment | $ 1,027 | $ 1,988 | $ 1,046 |
Real Estate [Member] | Nonowner-occupied commercial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | Contract | 7 | 3 | 7 |
Post-Modification Outstanding Recorded Investment | $ 2,408 | $ 2,309 | $ 2,503 |
Loans, Allowance for Loan Los40
Loans, Allowance for Loan Losses, and Credit Quality Indicators - Schedule of Restructured Loans (Detail) $ in Thousands | 6 Months Ended |
Jun. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | $ 0 |
Term Modification | 1,881 |
Interest-only Modification | 574 |
Combination Modification | 0 |
Commercial and Other [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Term Modification | 280 |
Interest-only Modification | 574 |
Combination Modification | 0 |
Consumer [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Real Estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Term Modification | 1,601 |
Combination Modification | 0 |
Real Estate [Member] | Multi-family residential [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Real Estate [Member] | Residential 1-4 family [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Real Estate [Member] | Owner-occupied commercial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Real Estate [Member] | Nonowner-occupied commercial [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Term Modification | 1,601 |
Combination Modification | 0 |
Construction [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Construction [Member] | Multi-family residential [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Construction [Member] | Residential 1-4 family [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Construction [Member] | Commercial real estate [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Construction [Member] | Commercial bare land and acquisition & development [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | 0 |
Construction [Member] | Residential bare land and acquisition & development [Member] | |
Financing Receivable, Modifications [Line Items] | |
Rate Modification | 0 |
Combination Modification | $ 0 |
Dental Loan Portfolio - Additio
Dental Loan Portfolio - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total outstanding loans | 24.58% | 29.37% | 29.29% |
Government guarantees | $ 11,442 | $ 13,967 | $ 12,700 |
Percentage of outstanding dental loan | 3.56% | 4.61% | 4.15% |
Dental Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding loans to dental professionals | $ 321,055 | $ 302,822 | $ 306,391 |
Dental Loan Portfolio - Major C
Dental Loan Portfolio - Major Classifications of Dental Loans (Detail) - Dental Loan [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | $ 321,055 | $ 306,391 | $ 302,822 |
Commercial and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | 256,607 | 242,910 | 238,319 |
Real estate secured loans [Member] | Residential portfolio segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | 64,448 | 63,481 | 64,503 |
Real estate secured loans [Member] | Residential portfolio segment [Member] | Other dental real estate loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | 2,596 | 2,785 | 2,663 |
Real estate secured loans [Member] | Residential portfolio segment [Member] | Owner-occupied commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | 59,819 | 60,092 | 61,452 |
Real estate secured loans [Member] | Residential portfolio segment [Member] | Dental construction loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | 2,033 | 604 | 388 |
Real estate secured loans [Member] | Real estate loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans Receivable | $ 62,415 | $ 62,877 | $ 64,115 |
Dental Loan Portfolio - Dental
Dental Loan Portfolio - Dental Loan Total by Market (Detail) - Commercial and Other [Member] - Dental Loan [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Receivable | $ 321,055 | $ 306,391 | $ 302,822 |
Local [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Receivable | 156,315 | 159,425 | 169,102 |
National [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Receivable | $ 164,740 | $ 146,966 | $ 133,720 |
Dental Loan Portfolio - Denta44
Dental Loan Portfolio - Dental Portfolio Allowance Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 15,724 | $ 15,394 | $ 15,637 | $ 15,917 |
Provision (reclassification) | (550) | (550) | ||
Loans charged against allowance | (454) | (30) | (527) | (631) |
Recoveries credited to allowance | 193 | 311 | 353 | 389 |
Balance, end of period | 16,013 | 15,675 | 16,013 | 15,675 |
Dental Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 3,912 | 3,901 | 4,141 | 3,730 |
Provision (reclassification) | 198 | 217 | 3 | 795 |
Loans charged against allowance | (42) | (31) | (84) | (447) |
Recoveries credited to allowance | 12 | 49 | 20 | 58 |
Balance, end of period | $ 4,080 | $ 4,136 | $ 4,080 | $ 4,136 |
Dental Loan Portfolio - Credit
Dental Loan Portfolio - Credit Quality Indicators (Detail) - Commercial and Other [Member] - Dental Loan [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | $ 321,055 | $ 306,391 | $ 302,822 |
Local [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 156,315 | 159,425 | 169,102 |
National [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 164,740 | 146,966 | 133,720 |
Pass [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 315,675 | 300,709 | 295,569 |
Pass [Member] | Local [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 153,911 | 156,589 | 163,049 |
Pass [Member] | National [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 161,764 | 144,120 | 132,520 |
Substandard [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 5,380 | 5,682 | 7,253 |
Substandard [Member] | Local [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | 2,404 | 2,836 | 6,053 |
Substandard [Member] | National [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total Loans Receivable | $ 2,976 | $ 2,846 | $ 1,200 |
Dental Loan Portfolio - Aged An
Dental Loan Portfolio - Aged Analysis of Dental Loans Receivable (Detail) - Dental Loan [Member] - Commercial and Other [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
30-59 Days Past Due Still Accruing | $ 331 | $ 327 | |
60-89 Days Past Due Still Accruing | 0 | 0 | $ 0 |
Greater Than 90 Days Still Accruing | 0 | 0 | 0 |
Nonaccrual | 536 | 597 | 1,250 |
Total Past Due and Nonaccrual | 867 | 924 | 1,250 |
Total Current | 320,188 | 305,467 | 301,572 |
Total Loans Receivable | 321,055 | 306,391 | 302,822 |
Local [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
30-59 Days Past Due Still Accruing | 331 | 327 | |
60-89 Days Past Due Still Accruing | 0 | 0 | 0 |
Greater Than 90 Days Still Accruing | 0 | 0 | 0 |
Nonaccrual | 536 | 597 | 1,028 |
Total Past Due and Nonaccrual | 867 | 924 | 1,028 |
Total Current | 155,448 | 158,501 | 168,074 |
Total Loans Receivable | 156,315 | 159,425 | 169,102 |
National [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
60-89 Days Past Due Still Accruing | 0 | 0 | 0 |
Greater Than 90 Days Still Accruing | 0 | 0 | 0 |
Nonaccrual | 222 | ||
Total Past Due and Nonaccrual | 222 | ||
Total Current | 164,740 | 146,966 | 133,498 |
Total Loans Receivable | $ 164,740 | $ 146,966 | $ 133,720 |
Federal Funds and Overnight F47
Federal Funds and Overnight Funds Purchased - Additional Information (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Federal Home Loan Banks [Abstract] | |||
Unsecured federal funds borrowing lines | $ 129,000,000 | ||
Unsecured federal funds borrowing lines outstanding | 5,500,000 | $ 0 | $ 6,410,000 |
Secured overnight borrowing line from Federal Reserve Bank | 71,190,000 | 65,084,000 | 101,122,000 |
Commercial loans pledged for Federal Reserve Bank borrowing line | 132,032,000 | ||
Outstanding borrowings | $ 0 | $ 0 | $ 0 |
Federal Home Loan Bank Borrow48
Federal Home Loan Bank Borrowings - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Percentage of federal home loan bank borrowings | 35.00% | ||
FHLB maximum borrowing line | $ 640,830 | $ 451,298 | $ 449,629 |
Pledged real estate loans and securities | 604,157 | ||
Discounted value on pledged real estate loans and securities | 400,600 | 318,854 | 284,453 |
Federal Home Loan Bank borrowings | $ 84,000 | $ 96,000 | $ 164,500 |
FHLB Seattle and FHLB Des Moines [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Merger completion announced date | Jun. 1, 2015 | ||
Merger completion effective date | May 31, 2015 |
Federal Home Loan Bank Borrow49
Federal Home Loan Bank Borrowings - Summary of Outstanding FHLB Borrowings by Maturity and Applicable Interest Rate (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Federal Home Loan Bank borrowings | $ 84,000 | $ 96,000 | $ 164,500 |
2014 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,014 | ||
2015 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,015 | ||
Federal Home Loan Bank borrowings | $ 56,500 | ||
2016 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,016 | ||
Federal Home Loan Bank borrowings | $ 22,500 | ||
2017 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,017 | ||
Current Rates | 2.28% | ||
Federal Home Loan Bank borrowings | $ 3,000 | ||
2018 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,018 | ||
2019 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
FHLB borrowings, maturity date | 2,019 | ||
Thereafter [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Current Rates | 3.85% | ||
Federal Home Loan Bank borrowings | $ 2,000 | ||
Minimum [Member] | 2015 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Current Rates | 0.29% | ||
Minimum [Member] | 2016 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Current Rates | 1.84% | ||
Maximum [Member] | 2015 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Current Rates | 1.60% | ||
Maximum [Member] | 2016 [Member] | |||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | |||
Current Rates | 2.36% |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, authorized shares | 1,550,000 | |
Maximum percentage of awards to be granted at exercise prices | 100.00% | |
Additional shares granted and issued during period | 0 | 0 |
Shares granted and issued during period | 175,083 | 142,047 |
Fair value of liability-based awards vested during period | $ 0 | |
Stock Options [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, awards vesting period | 4 years | |
Stock Options [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation, awards vesting period | 10 years | |
Director Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Additional shares granted and issued during period | 19,185 | 14,996 |
Shares granted and issued during period | 19,185 | 14,996 |
Employee RSUs [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Additional shares granted and issued during period | 155,898 | 127,051 |
Additional shares vested during period | 75,373 | |
Shares granted and issued during period | 155,898 | 127,051 |
RSUs cliff vesting date | Jan. 1, 2019 | |
Unrecognized compensation expense | $ 3,337,000 | |
Forfeiture rates | 13.00% | |
Weighted-average period of time | 2 years 11 months 9 days | |
Employee RSUs [Member] | Vesting Period Four Years [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Additional shares vested during period | 148,460 | 116,771 |
Employee RSUs [Member] | Vesting Period Two Years [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Additional shares vested during period | 9,902 | |
Employee RSUs [Member] | Vesting Period Immediate [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Additional shares vested during period | 386 | 378 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Shares and Aggregate Grant-Date Fair Market Values (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 175,083 | 142,047 |
Fair Market Value | $ 2,454 | $ 1,879 |
Director Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 19,185 | 14,996 |
Fair Market Value | $ 248 | $ 200 |
Employee RSUs [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares | 155,898 | 127,051 |
Fair Market Value | $ 2,206 | $ 1,679 |
Share-Based Compensation - Su52
Share-Based Compensation - Summary of RSU Activity (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-Vested Restricted Stock Units, Granted | 0 | 0 |
Employee RSUs [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-Vested Restricted Stock Units, Balance, beginning of period | 306,532 | |
Non-Vested Restricted Stock Units, Granted | 155,898 | 127,051 |
Non-Vested Restricted Stock Units, Vested shares issued | (75,373) | |
Non-Vested Restricted Stock Units, Vested shares surrendered for taxes | (46,105) | |
Non-Vested Restricted Stock Units, Forfeited or expired | (4,847) | |
Non-Vested Restricted Stock Units, Balance, end of period | 336,105 | |
Weighted Average Grant Date Fair Value, Balance, beginning of period | $ 11.18 | |
Weighted Average Grant Date Fair Value, Granted | 13 | |
Weighted Average Grant Date Fair Value, Vested shares issued | 10.59 | |
Weighted Average Grant Date Fair Value, Vested shares surrendered for taxes | 10.59 | |
Weighted Average Grant Date Fair Value, Forfeited or expired | 11.86 | |
Weighted Average Grant Date Fair Value, Balance, end of period | $ 12.23 |
Share-Based Compensation - Sche
Share-Based Compensation - Schedule of Compensation Expenses and Tax Benefits (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | $ 574 | $ 546 | $ 906 | $ 870 |
Tax Benefit (expense) | 218 | 208 | 344 | 326 |
Director Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | 248 | 200 | 248 | 200 |
Tax Benefit (expense) | 94 | 76 | 94 | 76 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | 13 | |||
Employee Stock SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | 26 | |||
Tax Benefit (expense) | 10 | |||
Employee RSUs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | 376 | 331 | 708 | 561 |
Tax Benefit (expense) | 143 | 126 | 269 | 213 |
Employee Cash SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Compensation Expense (Income) | (50) | 15 | (50) | 70 |
Tax Benefit (expense) | $ (19) | $ 6 | $ (19) | $ 27 |
Share-Based Compensation - Su54
Share-Based Compensation - Summary of Stock Options, Employee Stock SARs, and Employee Cash SARs Exercised (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 1,102 | 16,779 | ||
Weighted Average Exercise Price | $ 12.25 | $ 11.29 | ||
Intrinsic Value | $ 2 | $ 57 | ||
Number of Shares Issued | 1,102 | |||
Employee Stock SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 600 | 1,961 | 1,213 | 14,140 |
Weighted Average Exercise Price | $ 11.30 | $ 11.53 | $ 11.50 | $ 11.86 |
Intrinsic Value | $ 1 | $ 3 | $ 1 | $ 25 |
Number of Shares Issued | 52 | 189 | 92 | 1,629 |
Employee Cash SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number Exercised | 2,219 | 208 | 6,445 | |
Weighted Average Exercise Price | $ 12.07 | $ 12.07 | $ 12.21 | |
Net Cash Payment to Employees | $ 3 | $ 8 |
Fair Value - Estimated Fair Val
Fair Value - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financial assets: | |||
Cash and cash equivalents | $ 39,602 | $ 25,787 | $ 43,443 |
Securities available-for-sale | 383,618 | 351,946 | 344,645 |
Loans | 1,304,932 | 1,045,021 | 1,030,021 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Bank-owned life insurance | 22,571 | 16,609 | 16,370 |
Financial liabilities: | |||
Deposits | 1,514,181 | 1,209,093 | 1,132,654 |
Federal funds and overnight funds purchased | 5,500 | 6,410 | |
Federal Home Loan Bank borrowings | 84,000 | 96,000 | 164,500 |
Junior subordinated debentures | 8,248 | 8,248 | 8,248 |
Interest payable | 170 | 176 | 170 |
Carrying Amount [Member] | |||
Financial assets: | |||
Cash and cash equivalents | 39,602 | 25,787 | 43,443 |
Securities available-for-sale | 383,618 | 351,946 | 344,645 |
Loans | 1,304,932 | 1,045,021 | 1,030,021 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Bank-owned life insurance | 22,571 | 16,609 | 16,370 |
Swap derivative | 117 | 176 | 218 |
Financial liabilities: | |||
Deposits | 1,514,181 | 1,209,093 | 1,132,654 |
Federal funds and overnight funds purchased | 5,500 | 6,410 | |
Federal Home Loan Bank borrowings | 84,000 | 96,000 | 164,500 |
Junior subordinated debentures | 8,248 | 8,248 | 8,248 |
Interest payable | 170 | 176 | 170 |
Fair Value [Member] | |||
Financial assets: | |||
Cash and cash equivalents | 39,602 | 25,787 | 43,443 |
Securities available-for-sale | 383,618 | 351,946 | 344,645 |
Loans | 1,289,072 | 1,033,254 | 1,015,721 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Bank-owned life insurance | 22,571 | 16,609 | 16,370 |
Swap derivative | 117 | 176 | 218 |
Financial liabilities: | |||
Deposits | 1,514,255 | 1,209,240 | 1,132,917 |
Federal funds and overnight funds purchased | 5,500 | 6,410 | |
Federal Home Loan Bank borrowings | 84,587 | 96,721 | 165,502 |
Junior subordinated debentures | 2,494 | 2,410 | 2,326 |
Interest payable | $ 170 | $ 176 | $ 170 |
Fair Value - Fair Value Hierarc
Fair Value - Fair Value Hierarchy for Assets and Liabilities Not Measured at Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financial assets: | |||
Cash and cash equivalents | $ 39,602 | $ 25,787 | $ 43,443 |
Loans | 1,304,932 | 1,045,021 | 1,030,021 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Financial liabilities: | |||
Deposits | 1,514,181 | 1,209,093 | 1,132,654 |
Federal funds and overnight funds purchased | 5,500 | 6,410 | |
Federal Home Loan Bank borrowings | 84,000 | 96,000 | 164,500 |
Junior subordinated debentures | 8,248 | 8,248 | 8,248 |
Interest payable | 170 | 176 | 170 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Financial assets: | |||
Cash and cash equivalents | 39,602 | 25,787 | 43,443 |
Federal Home Loan Bank stock | 5,468 | 10,019 | 10,227 |
Interest receivable | 5,833 | 4,773 | 5,101 |
Financial liabilities: | |||
Federal funds and overnight funds purchased | 5,500 | 6,410 | |
Interest payable | 170 | 176 | 170 |
Significant Other Observable Inputs (Level 2) [Member] | |||
Financial liabilities: | |||
Deposits | 1,514,255 | 1,209,240 | 1,132,917 |
Federal Home Loan Bank borrowings | 84,587 | 96,721 | 165,502 |
Junior subordinated debentures | 2,494 | 2,410 | 2,326 |
Significant Unobservable Inputs (Level 3) [Member] | |||
Financial assets: | |||
Loans | $ 1,289,072 | $ 1,033,254 | $ 1,015,721 |
Fair Value - Assets Measured at
Fair Value - Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | $ 383,618 | $ 351,946 | $ 344,645 |
Total assets measured on a recurring basis | 383,735 | 352,122 | 344,863 |
Obligations of U.S. government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 55,796 | 39,185 | 37,162 |
Obligations of states and political subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 87,387 | 83,981 | 81,680 |
Mortgage-backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 202,114 | 205,390 | 212,720 |
Private-label mortgage-backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 3,334 | 3,816 | 4,443 |
SBA variable rate pools [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 34,089 | 19,574 | 8,640 |
Corporate securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 898 | ||
Swap Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 117 | 176 | 218 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured on a recurring basis | 117 | 176 | 218 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Swap Derivative [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 117 | 176 | 218 |
Significant Other Observable Inputs (Level 2) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured on a recurring basis | 381,835 | 350,378 | 342,952 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of U.S. government agencies [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 55,796 | 39,185 | 37,162 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of states and political subdivisions [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 87,387 | 83,981 | 81,680 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 202,114 | 205,390 | 212,720 |
Significant Other Observable Inputs (Level 2) [Member] | Private-label mortgage-backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 1,551 | 2,248 | 2,750 |
Significant Other Observable Inputs (Level 2) [Member] | SBA variable rate pools [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 34,089 | 19,574 | 8,640 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | 898 | ||
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured on a recurring basis | 1,783 | 1,568 | 1,693 |
Significant Unobservable Inputs (Level 3) [Member] | Private-label mortgage-backed securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available-for-sale securities | $ 1,783 | $ 1,568 | $ 1,693 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($)SecuritiesSecurity | Jun. 30, 2014Security | Dec. 31, 2014Security | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfer of security from levels 1 and 2 to level 3 | 0 | 0 | 0 |
Other-than-temporary impairment security transferred from level 2 to level 3 | Securities | 1 | ||
Carrying value of loans fully charged off | $ | $ 0 | ||
Other Real Estate Owned [Member] | Impaired Loans [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Term period for external appraisals | 6 months | ||
Other Real Estate Owned [Member] | Impaired Loans [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Term period for external appraisals | 12 months |
Fair Value - Reconciliation of
Fair Value - Reconciliation of Private-Label Mortgage-Backed Securities Measured at Fair Value on Recurring Basis (Detail) - Private-label mortgage-backed securities [Member] - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning balance | $ 1,545 | $ 1,774 | $ 1,568 | $ 1,786 |
Transfers from Level 2 | 300 | 300 | ||
Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Total gains or losses | 0 | 0 | 0 | 0 |
Included in earnings | (13) | (13) | ||
Included in other comprehensive income | 29 | (61) | 68 | (11) |
Paydowns | (78) | (20) | (140) | (82) |
Purchases, issuances, sales and settlements | ||||
Purchases | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 1,783 | $ 1,693 | $ 1,783 | $ 1,693 |
Fair Value - Assets Measured 60
Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans measured for impairment (net of government guarantees and specific reserves) | $ 3,041 | $ 3,110 | $ 5,298 |
Other real estate owned | 12,666 | 13,374 | 11,531 |
Total | 15,707 | 16,484 | 16,829 |
Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans measured for impairment (net of government guarantees and specific reserves) | 3,041 | 3,110 | 5,298 |
Other real estate owned | 12,666 | 13,374 | 11,531 |
Total | $ 15,707 | $ 16,484 | $ 16,829 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Derivatives, Fair Value [Line Items] | ||||
Interest rate swap agreement notional amount | $ 8,000,000 | $ 8,000,000 | ||
Unrealized gain on fair value of derivative instrument | 64,000 | $ (107,000) | (59,000) | $ (187,000) |
Gain or loss recognized in earnings | 0 | |||
Pledging under collateral arrangements | $ 400,000 | $ 400,000 | ||
Junior Subordinated Debentures [Member] | Interest Rate Swap Agreement [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Debt instrument maturity term | 7 years | |||
Debt instrument interest rate | 2.73% | 2.73% |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Billions | Jun. 30, 2015 | Dec. 31, 2009 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity Tier 1 capital ratio | 4.50% | |
Total capital ratio | 8.00% | |
Tier 1 leverage ratio to average consolidated assets | 4.00% | |
Amount of minimum value of assets | $ 15 | |
Minimum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 capital ratio | 4.00% | |
Maximum [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 capital ratio | 6.00% |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk weighted assets), Actual Amount | $ 191,999 | $ 179,109 | $ 176,940 |
Total capital (to risk weighted assets), Actual Ratio | 12.88% | 15.73% | 15.73% |
Tier 1 capital (to risk weighted assets), Actual Amount | $ 175,601 | $ 164,864 | $ 162,865 |
Tier 1 capital (to risk weighted assets), Actual Ratio | 11.78% | 14.48% | 14.48% |
Common Equity Tier 1 (to risk weighted assets),Actual Amount | $ 168,029 | ||
Common Equity Tier 1 (to risk weighted assets),Actual Ratio | 11.27% | ||
Tier 1 capital (to leverage assets), Actual Amount | $ 175,601 | $ 164,864 | $ 162,865 |
Tier 1 capital (to leverage assets), Actual Ratio | 10.01% | 11.33% | 11.26% |
Total capital (to risk weighted assets), For Capital Adequacy Purposes Ratio | 8.00% | ||
Pacific Continental Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk weighted assets), Actual Amount | $ 191,401 | $ 176,199 | $ 173,819 |
Total capital (to risk weighted assets), Actual Ratio | 12.84% | 15.48% | 15.46% |
Tier 1 capital (to risk weighted assets), Actual Amount | $ 175,003 | $ 161,954 | $ 159,744 |
Tier 1 capital (to risk weighted assets), Actual Ratio | 11.74% | 14.23% | 14.21% |
Common Equity Tier 1 (to risk weighted assets),Actual Amount | $ 175,003 | ||
Common Equity Tier 1 (to risk weighted assets),Actual Ratio | 11.74% | ||
Tier 1 capital (to leverage assets), Actual Amount | $ 175,003 | $ 161,954 | $ 159,744 |
Tier 1 capital (to leverage assets), Actual Ratio | 9.97% | 11.13% | 11.05% |
Total capital (to risk weighted assets), For Capital Adequacy Purposes Amount | $ 119,216 | $ 91,040 | $ 89,938 |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Amount | 89,412 | 45,520 | 44,969 |
Common Equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Amount | 67,059 | ||
Tier 1 capital (to leverage assets), For Capital Adequacy Purposes Amount | $ 70,190 | $ 58,193 | $ 57,829 |
Total capital (to risk weighted assets), For Capital Adequacy Purposes Ratio | 8.00% | 8.00% | 8.00% |
Tier 1 capital (to risk weighted assets), For Capital Adequacy Purposes Ratio | 6.00% | 4.00% | 4.00% |
Common Equity Tier 1 (to risk weighted assets), For Capital Adequacy Purposes Ratio | 4.50% | ||
Tier 1 capital (to leverage assets), For Capital Adequacy Purposes Ratio | 4.00% | 4.00% | 4.00% |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 149,020 | $ 113,800 | $ 112,422 |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 119,216 | 68,280 | 67,453 |
Common Equity Tier 1 (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 96,863 | ||
Tier 1 capital (to leverage assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 74,510 | $ 72,741 | $ 72,286 |
Total capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 6.00% | 6.00% |
Common Equity Tier 1 (to risk weighted assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | ||
Tier 1 capital (to leverage assets), To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% | 5.00% |
Uncategorized Items - pcbk-2015
Label | Element | Value |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld | $ 227 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld | 227 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held | us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld | $ 227 |