Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'FARMERS & MERCHANTS BANCORP | ' | ' |
Entity Central Index Key | '0001085913 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $311,161,000 |
Entity Common Stock, Shares Outstanding | ' | 777,882 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and Cash Equivalents: | ' | ' |
Cash and Due from Banks | $40,966 | $47,366 |
Interest Bearing Deposits with Banks | 42,711 | 82,060 |
Total Cash and Cash Equivalents | 83,677 | 129,426 |
Investment Securities: | ' | ' |
Available-for-Sale | 404,639 | 417,991 |
Held-to-Maturity | 68,505 | 68,392 |
Total Investment Securities | 473,144 | 486,383 |
Loans & Leases: | 1,388,236 | 1,246,902 |
Less: Allowance for Credit Losses | 34,274 | 34,217 |
Loans & Leases, Net | 1,353,962 | 1,212,685 |
Premises and Equipment, Net | 22,887 | 22,901 |
Bank Owned Life Insurance | 52,109 | 50,253 |
Interest Receivable and Other Assets | 90,294 | 73,038 |
Total Assets | 2,076,073 | 1,974,686 |
Deposits: | ' | ' |
Demand | 495,963 | 462,251 |
Interest-Bearing Transaction | 291,795 | 259,141 |
Savings and Money Market | 589,511 | 541,526 |
Time | 430,422 | 459,108 |
Total Deposits | 1,807,691 | 1,722,026 |
Subordinated Debentures | 10,310 | 10,310 |
Interest Payable and Other Liabilities | 48,168 | 37,317 |
Total Liabilities | 1,866,169 | 1,769,653 |
Commitments & Contingencies (See Note 19) | ' | ' |
Shareholders' Equity | ' | ' |
Preferred Stock: No Par Value, 1,000,000 Shares Authorized, None Issued or Outstanding | 0 | 0 |
Common Stock: Par Value $0.01, 7,500,000 Shares Authorized, 777,882 Shares Issued and Outstanding at Both December 31, 2013 and 2012. | 8 | 8 |
Additional Paid-In Capital | 75,014 | 75,014 |
Retained Earnings | 137,350 | 123,012 |
Accumulated Other Comprehensive (Loss) Income | -2,468 | 6,999 |
Total Shareholders' Equity | 209,904 | 205,033 |
Total Liabilities and Shareholders' Equity | $2,076,073 | $1,974,686 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Shareholders' Equity | ' | ' |
Preferred Stock, par value (in dollars per share) | $0 | $0 |
Preferred Stock, authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred Stock, issued (in shares) | 0 | 0 |
Preferred Stock, outstanding (in shares) | 0 | 0 |
Common Stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Stock, authorized (in shares) | 7,500,000 | 7,500,000 |
Common Stock, issued (in shares) | 777,882 | 777,882 |
Common Stock, outstanding (in shares) | 777,882 | 777,882 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income | ' | ' | ' |
Interest and Fees on Loans & Leases | $64,921 | $65,798 | $70,180 |
Interest on Deposits with Banks | 79 | 110 | 117 |
Interest on Investment Securities: | ' | ' | ' |
Taxable | 8,971 | 9,940 | 9,490 |
Exempt from Federal Tax | 2,560 | 2,643 | 2,567 |
Total Interest Income | 76,531 | 78,491 | 82,354 |
Interest Expense | ' | ' | ' |
Deposits | 2,548 | 3,739 | 5,463 |
Borrowed Funds | 16 | 1,054 | 2,181 |
Subordinated Debentures | 327 | 347 | 330 |
Total Interest Expense | 2,891 | 5,140 | 7,974 |
Net Interest Income | 73,640 | 73,351 | 74,380 |
Provision for Credit Losses | 425 | 1,850 | 6,775 |
Net Interest Income After Provision for Credit Losses | 73,215 | 71,501 | 67,605 |
Non-Interest Income | ' | ' | ' |
Service Charges on Deposit Accounts | 4,350 | 4,891 | 5,395 |
Net (Loss) Gain on Investment Securities | -229 | 158 | 95 |
Increase in Cash Surrender Value of Life Insurance | 1,856 | 1,836 | 1,834 |
Debit Card and ATM Fees | 3,069 | 2,938 | 2,760 |
Net Gain on Deferred Compensation Investments | 3,366 | 1,687 | 199 |
Other | 3,525 | 2,600 | 1,991 |
Total Non-Interest Income | 15,937 | 14,110 | 12,274 |
Non-Interest Expense | ' | ' | ' |
Salaries and Employee Benefits | 33,658 | 31,635 | 29,670 |
Net Gain on Deferred Compensation Investments | 3,366 | 1,687 | 199 |
Occupancy | 2,513 | 2,565 | 2,579 |
Equipment | 2,783 | 3,128 | 2,844 |
ORE Holding Costs | 91 | 122 | 1,785 |
FDIC Insurance | 981 | 968 | 1,461 |
Legal Fees | 569 | 1,039 | 876 |
Termination Fee Related to Repurchase Agreement | 0 | 1,657 | 0 |
Other | 6,909 | 5,476 | 5,614 |
Total Non-Interest Expense | 50,870 | 48,277 | 45,028 |
Income Before Income Taxes | 38,282 | 37,334 | 34,851 |
Provision for Income Taxes | 14,221 | 13,985 | 12,642 |
Net Income | $24,061 | $23,349 | $22,209 |
Basic Earnings Per Common Share (in dollars per share) | $30.93 | $29.99 | $28.49 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' | ' |
Net Income | $24,061 | $23,349 | $22,209 |
Other Comprehensive Income (Loss) | ' | ' | ' |
(Decrease) Increase in Net Unrealized (Loss) Gain on Available-for-Sale Securities | -16,564 | 4,182 | 5,364 |
Reclassification Adjustment for Realized Loss (Gain) on Available-for-Sale Securities Included in Net Income | 229 | -158 | -95 |
Deferred Tax Benefit (Expense) | 6,868 | -1,692 | -2,215 |
Change in Net Unrealized (Loss) Gain on Available-for-Sale Securities, Net of Tax | -9,467 | 2,332 | 3,054 |
Total Other Comprehensive (Loss) Income | -9,467 | 2,332 | 3,054 |
Comprehensive Income | $14,594 | $25,681 | $25,263 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) [Member] | Total |
In Thousands, except Share data, unless otherwise specified | |||||
Balance at Dec. 31, 2010 | $8 | $75,590 | $96,030 | $1,613 | $173,241 |
Balance (in shares) at Dec. 31, 2010 | 779,424 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income | ' | ' | 22,209 | ' | 22,209 |
Cash Dividends Declared on Common Stock | ' | ' | -9,158 | ' | -9,158 |
Change in Net Unrealized Gain (Loss) on Securities Available-for-Sale | ' | ' | ' | 3,054 | 3,054 |
Balance at Dec. 31, 2011 | 8 | 75,590 | 109,081 | 4,667 | 189,346 |
Balance (in shares) at Dec. 31, 2011 | 779,424 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income | ' | ' | 23,349 | ' | 23,349 |
Cash Dividends Declared on Common Stock | ' | ' | -9,418 | ' | -9,418 |
Repurchase of Common Stock | ' | -576 | ' | ' | -576 |
Repurchase of Common Stock (in shares) | -1,542 | ' | ' | ' | ' |
Change in Net Unrealized Gain (Loss) on Securities Available-for-Sale | ' | ' | ' | 2,332 | 2,332 |
Balance at Dec. 31, 2012 | 8 | 75,014 | 123,012 | 6,999 | 205,033 |
Balance (in shares) at Dec. 31, 2012 | 777,882 | ' | ' | ' | 777,882 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income | ' | ' | 24,061 | ' | 24,061 |
Cash Dividends Declared on Common Stock | ' | ' | -9,723 | ' | -9,723 |
Change in Net Unrealized Gain (Loss) on Securities Available-for-Sale | ' | ' | ' | -9,467 | -9,467 |
Balance at Dec. 31, 2013 | $8 | $75,014 | $137,350 | ($2,468) | $209,904 |
Balance (in shares) at Dec. 31, 2013 | 777,882 | ' | ' | ' | 777,882 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Cash Dividends Per Share of Common Stock (in dollars per share) | $12.50 | $12.10 | $11.75 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities | ' | ' | ' |
Net Income | $24,061 | $23,349 | $22,209 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' | ' |
Provision for Credit Losses | 425 | 1,850 | 6,775 |
Depreciation and Amortization | 1,506 | 1,704 | 1,801 |
Provision for Deferred Income Taxes | -8,501 | -2,548 | -1,260 |
Net Amortization of Investment Security Premium & Discounts | 3,068 | 3,944 | 1,230 |
Net Loss (Gain) on Investment Securities | 229 | -158 | -95 |
Net Gain on Sale of Property & Equipment | -721 | 0 | -5 |
Net Change in Operating Assets & Liabilities: | ' | ' | ' |
Net Increase in Interest Receivable and Other Assets | -3,719 | -434 | -2,750 |
Net Increase in Interest Payable and Other Liabilities | 10,851 | 4,016 | 2,455 |
Net Cash Provided by Operating Activities | 27,199 | 31,723 | 30,360 |
Investing Activities | ' | ' | ' |
Purchase of Investment Securities Available-for-Sale | -221,745 | -143,295 | -296,852 |
Proceeds from Sold, Matured, or Called Securities Available-for-Sale | 208,962 | 205,374 | 249,930 |
Purchase of Investment Securities Held-to-Maturity | -2,077 | -10,739 | -1,580 |
Proceeds from Matured, or Called Securities Held-to-Maturity | 8,443 | 5,419 | 3,402 |
Purchase of Life Insurance Contracts | 0 | -1,000 | 0 |
Net Loans & Leases Paid, Originated or Acquired | -142,225 | -84,872 | 6,778 |
Principal Collected on Loans & Leases Previously Charged Off | 523 | 398 | 127 |
Additions to Premises and Equipment | -1,614 | -547 | -1,660 |
Proceeds from Sale of Property & Equipment | 843 | 0 | 20 |
Net Cash Used by Investing Activities | -148,890 | -29,262 | -39,835 |
Financing Activities | ' | ' | ' |
Net Increase in Deposits | 85,665 | 95,829 | 59,694 |
Net Change in Other Borrowings | 0 | -530 | -61 |
Net Decrease in Securities Sold Under Agreement to Repurchase | 0 | -60,000 | 0 |
Stock Repurchases | 0 | -576 | 0 |
Cash Dividends | -9,723 | -9,418 | -9,158 |
Net Cash Provided by Financing Activities | 75,942 | 25,305 | 50,475 |
(Decrease) Increase in Cash and Cash Equivalents | -45,749 | 27,766 | 41,000 |
Cash and Cash Equivalents at Beginning of Year | 129,426 | 101,660 | 60,660 |
Cash and Cash Equivalents at End of Year | 83,677 | 129,426 | 101,660 |
Supplementary Data | ' | ' | ' |
Loans Transferred to Foreclosed Assets (ORE) | 4,403 | 58 | 1,092 |
Cash Payments Made for Income Taxes | 17,285 | 17,472 | 12,070 |
Interest Paid | $3,037 | $5,553 | $8,474 |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Significant Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
1. Significant Accounting Policies | |
Farmers & Merchants Bancorp (the “Company”) was organized March 10, 1999. Primary operations are related to traditional banking activities through its subsidiary Farmers & Merchants Bank of Central California (the “Bank”) which was established in 1916. The Bank’s wholly owned subsidiaries include Farmers & Merchants Investment Corporation and Farmers/Merchants Corp. Farmers & Merchants Investment Corporation has been dormant since 1991. Farmers/Merchants Corp. acts as trustee on deeds of trust originated by the Bank. | |
The Company’s other subsidiaries include F & M Bancorp, Inc. and FMCB Statutory Trust I. F & M Bancorp, Inc. was created in March 2002 to protect the name F & M Bank. During 2002, the Company completed a fictitious name filing in California to begin using the streamlined name “F & M Bank” as part of a larger effort to enhance the Company’s image and build brand name recognition. In December 2003, the Company formed a wholly owned subsidiary, FMCB Statutory Trust I. FMCB Statutory Trust I is a non-consolidated subsidiary per generally accepted accounting principles (“GAAP”) and was formed for the sole purpose of issuing Trust Preferred Securities. | |
The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America and prevailing practice within the banking industry. The following is a summary of the significant accounting and reporting policies used in preparing the consolidated financial statements. | |
Basis of Presentation | |
The accompanying consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America for financial information. | |
The accompanying consolidated financial statements include the accounts of the Company and the Company’s wholly owned subsidiaries, F & M Bancorp, Inc. and the Bank, along with the Bank’s wholly owned subsidiaries, Farmers & Merchants Investment Corporation and Farmers/Merchants Corp. Significant inter-company transactions have been eliminated in consolidation. | |
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Certain amounts in the prior years' financial statements and related footnote disclosures have been reclassified to conform to the current-year presentation. These reclassifications had no effect on previously reported net income or total shareholders’ equity. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair presentation of financial results for the periods presented. | |
Cash and Cash Equivalents | |
For purposes of the Consolidated Statements of Cash Flows, the Company has defined cash and cash equivalents as those amounts included in the balance sheet captions Cash and Due from Banks, Interest-bearing Deposits with Banks, Federal Funds Sold and Securities Purchased Under Agreements to Resell. Generally, these transactions are for one-day periods. For these instruments, the carrying amount is a reasonable estimate of fair value. | |
Investment Securities | |
Investment securities are classified at the time of purchase as held-to-maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These securities are carried at cost, adjusted for amortization of premium and accretion of discount using a level yield of interest over the estimated remaining period until maturity. Losses, reflecting a decline in value judged by the Company to be other than temporary, are recognized in the period in which they occur. | |
Securities are classified as available-for-sale if it is management’s intent, at the time of purchase, to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. These securities are reported at fair value with aggregate unrealized gains or losses excluded from income and included as a separate component of shareholders’ equity, net of related income taxes. Fair values are based on quoted market prices or broker/dealer price quotations on a specific identification basis. Gains or losses on the sale of these securities are computed using the specific identification method. | |
Trading securities, if any, are acquired for short-term appreciation and are recorded in a trading portfolio and are carried at fair value, with unrealized gains and losses recorded in non-interest income. | |
Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement; and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | |
In order to determine OTTI for purchased beneficial interests that, on the purchase date, were not highly rated, the Company compares the present value of the remaining cash flows as estimated at the preceding evaluation date to the current expected remaining cash flows. OTTI is deemed to have occurred if there has been an adverse change in the remaining expected future cash flows. | |
Loans & Leases | |
Loans & leases are reported at the principal amount outstanding net of unearned discounts and deferred loan & lease fees and costs. Interest income on loans & leases is accrued daily on the outstanding balances using the simple interest method. Loan & lease origination fees are deferred and recognized over the contractual life of the loan or lease as an adjustment to the yield. Loans & leases are placed on non-accrual status when the collection of principal or interest is in doubt or when they become past due for 90 days or more unless they are both well-secured and in the process of collection. For this purpose a loan or lease is considered well secured if it is collateralized by property having a net realizable value in excess of the amount of the loan or lease or is guaranteed by a financially capable party. When a loan or lease is placed on non-accrual status, the accrued and unpaid interest receivable is reversed and charged against current income; thereafter, interest income is recognized only as it is collected in cash. Additionally, cash would be applied to principal if all principal was not expected to be collected. Loans & leases placed on non-accrual status are returned to accrual status when the loans or leases are paid current as to principal and interest and future payments are expected to be made in accordance with the contractual terms of the loan or lease. | |
A loan or lease is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans & leases determined to be impaired are individually evaluated for impairment. When a loan or lease is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan or lease's effective interest rate, except that as a practical expedient, it may measure impairment based on a loan or lease's observable market price, or the fair value of the collateral if the loan or lease is collateral dependent. A loan or lease is collateral dependent if the repayment of the loan or lease is expected to be provided solely by the underlying collateral. | |
A restructuring of a loan or lease constitutes a troubled debt restructuring (“TDR”) under ASC 310-40, if the Company for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. Restructured loans or leases typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. If the restructured loan or lease was current on all payments at the time of restructure and management reasonably expects the borrower will continue to perform after the restructure, management may keep the loan or lease on accrual. Loans & leases that are on nonaccrual status at the time they become TDR loans, remain on nonaccrual status until the borrower demonstrates a sustained period of performance, which the Company generally believes to be six consecutive months of payments, or equivalent. A loan or lease can be removed from TDR status if it was restructured at a market rate in a prior calendar year and is currently in compliance with its modified terms. However, these loans or leases continue to be classified as impaired and are individually evaluated for impairment. | |
Allowance for Credit Losses | |
The allowance for credit losses is an estimate of probable incurred credit losses inherent in the Company's loan & lease portfolio as of the balance-sheet date. The allowance is established through a provision for credit losses, which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan & lease growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged off amounts is recorded as a recovery to the allowance. The overall allowance consists of two primary components, specific reserves related to impaired loans & leases and general reserves for inherent losses related to loans & leases that are not impaired. | |
The determination of the general reserve for loans & leases that are collectively evaluated for impairment is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment, internal asset classifications, qualitative factors to include economic trends in the Company's service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company's underwriting policies, the character of the loan & lease portfolio, and probable losses inherent in the portfolio taken as a whole. | |
An unallocated allowance often occurs due to the imprecision in estimating and allocating allowance balances associated with macro factors such as: (1) the continuing sluggish economic conditions in the Central Valley; and (2) the long term impact of drought conditions currently being experienced in California. | |
The Company maintains a separate allowance for each portfolio segment (loan & lease type). These portfolio segments include: (1) commercial real estate; (2) agricultural real estate; (3) real estate construction (including land and development loans); (4) residential 1st mortgages; (5) home equity lines and loans; (6) agricultural; (7) commercial; (8) consumer and other; and (9) leases. The allowance for credit losses attributable to each portfolio segment, which includes both individually evaluated impaired loans & leases and loans & leases that are collectively evaluated for impairment, is combined to determine the Company's overall allowance, which is included on the consolidated balance sheet. | |
The Company assigns a risk rating to all loans & leases and periodically performs detailed reviews of all such loans & leases over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. A credit grade is established at inception for smaller balance loans, such as consumer and residential real estate, and then updated only when the loan becomes contractually delinquent or when the borrower requests a modification. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans & leases. These credit quality indicators are used to assign a risk rating to each individual loan or lease. These risk ratings are also subject to examination by independent specialists engaged by the Company. The risk ratings can be grouped into five major categories, defined as follows: | |
Pass – A pass loan or lease is a strong credit with no existing or known potential weaknesses deserving of management's close attention. | |
Special Mention – A special mention loan or lease has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease or in the Company's credit position at some future date. Special Mention loans & leases are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. | |
Substandard – A substandard loan or lease is not adequately protected by the current financial condition and paying capacity of the borrower or the value of the collateral pledged, if any. Loans or leases classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well-defined weaknesses include a project's lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project's failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |
Doubtful – Loans or leases classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, based on currently known facts, conditions and values, highly questionable or improbable. | |
Loss – Loans or leases classified as loss are considered uncollectible. Once a loan or lease becomes delinquent and repayment becomes questionable, the Company will address collateral shortfalls with the borrower and attempt to obtain additional collateral. If this is not forthcoming and payment in full is unlikely, the Company will estimate its probable loss and immediately charge-off some or all of the balance. | |
The general reserve component of the allowance for credit losses also consists of reserve factors that are based on management's assessment of the following for each portfolio segment: (1) inherent credit risk; (2) historical losses; and (3) other qualitative factors. These reserve factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment described below: | |
Real Estate Construction – Real Estate Construction loans, including land loans, generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified cost and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. | |
Commercial Real Estate – Commercial real estate mortgage loans generally possess a higher inherent risk of loss than other real estate portfolio segments, except land and construction loans. Adverse economic developments or an overbuilt market impact commercial real estate projects and may result in troubled loans. Trends in vacancy rates of commercial properties impact the credit quality of these loans. High vacancy rates reduce operating revenues and the ability for properties to produce sufficient cash flow to service debt obligations. | |
Commercial – Commercial loans generally possess a lower inherent risk of loss than real estate portfolio segments because these loans are generally underwritten to existing cash flows of operating businesses. Debt coverage is provided by business cash flows and economic trends influenced by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. | |
Agricultural Real Estate and Agricultural – Loans secured by crop production, livestock and related real estate are vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |
Residential 1st Mortgages and Home Equity Lines and Loans – The degree of risk in residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate and the borrower's ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments, although this is not always true as evidenced by the weakness in residential real estate values over the past five years. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers' capacity to repay their obligations may be deteriorating. | |
Consumer & Other – A consumer installment loan portfolio is usually comprised of a large number of small loans scheduled to be amortized over a specific period. Most installment loans are made for consumer purchases. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers' capacity to repay their obligations may be deteriorating. | |
Leases – Equipment leases subject the Company, as lessor, to both the credit risk of the lessee and the residual value risk of the equipment. Credit risks are underwritten using the same credit criteria the Company would use when making an equipment term loan. Residual value risk is managed through the use of qualified, independent appraisers that establish the residual values the Company uses in structuring a lease. | |
At least quarterly, the Board of Directors reviews the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company's and Bank's regulators, including the FRB, DBO and FDIC, as an integral part of their examination process, review the adequacy of the allowance. These regulatory agencies may require additions to the allowance based on their judgment about information available at the time of their examinations. | |
Allowance for Credit Losses on Off-Balance-Sheet Credit Exposures | |
The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for off-balance-sheet commitments is included in Interest Payable and Other Liabilities on the Company’s Consolidated Balance Sheet. | |
Premises and Equipment | |
Premises, equipment, and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. Estimated useful lives of buildings range from 30 to 40 years, and for furniture and equipment from 3 to 7 years. Leasehold improvements are amortized over the lesser of the terms of the respective leases, or their useful lives, which are generally 5 to 10 years. Remodeling and capital improvements are capitalized while maintenance and repairs are charged directly to occupancy expense. | |
Other Real Estate | |
Other real estate, which is included in other assets, is expected to be sold and is comprised of properties no longer utilized for business operations and property acquired through foreclosure in satisfaction of indebtedness. These properties are recorded at fair value less estimated selling costs upon acquisition. Revised estimates to the fair value less cost to sell are reported as adjustments to the carrying amount of the asset, provided that such adjusted value is not in excess of the carrying amount at acquisition. Initial losses on properties acquired through full or partial satisfaction of debt are treated as credit losses and charged to the allowance for credit losses at the time of acquisition. Subsequent declines in value from the recorded amounts, routine holding costs, and gains or losses upon disposition, if any, are included in non-interest expense as incurred. | |
Income Taxes | |
The Company uses the liability method of accounting for income taxes. This method results in the recognition of deferred tax assets and liabilities that are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The deferred provision for income taxes is the result of the net change in the deferred tax asset and deferred tax liability balances during the year. This amount, combined with the current taxes payable or refundable, results in the income tax expense for the current year. | |
The Company follows the standards set forth in the “Income Taxes” topic of the FASB ASC, which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. This standard prescribes a recognition threshold and measurement standard for the financial statement recognition and measurement of an income tax position taken or expected to be taken in a tax return. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. | |
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. | |
Interest expense and penalties associated with unrecognized tax benefits, if any, are included in the provision for income taxes in the Consolidated Statements of Income. | |
Dividends and Basic Earnings Per Common Share | |
The Company’s common stock is not traded on any exchange. The shares are primarily held by local residents and are not actively traded. Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. There are no common stock equivalent shares therefore there is no presentation of diluted earnings per common share. See Note 15 for additional information. | |
Segment Reporting | |
The “Segment Reporting” topic of the FASB ASC requires that public companies report certain information about operating segments. It also requires that public companies report certain information about their products and services, the geographic areas in which they operate, and their major customers. The Company is a holding company for a community bank, which offers a wide array of products and services to its customers. Pursuant to its banking strategy, emphasis is placed on building relationships with its customers, as opposed to building specific lines of business. As a result, the Company is not organized around discernible lines of business and prefers to work as an integrated unit to customize solutions for its customers, with business line emphasis and product offerings changing over time as needs and demands change. Therefore, the Company only reports one segment. | |
Derivative Instruments and Hedging Activities | |
The “Derivatives and Hedging” topic of the FASB ASC establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. All derivatives, whether designated in hedging relationships or not, are required to be recorded on the consolidated balance sheet at fair value. Changes in the fair value of those derivatives are accounted for depending on the intended use of the derivative and the resulting designation under specified criteria. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, designed to minimize interest rate risk, the effective portions of the change in the fair value of the derivative are recorded in other comprehensive income (loss), net of related income taxes. Ineffective portions of changes in the fair value of cash flow hedges are recognized in earnings. | |
From time to time, the Company utilizes derivative financial instruments such as interest rate caps, floors, swaps, and collars. These instruments are purchased and/or sold to reduce the Company’s exposure to changing interest rates. The Company marks to market the value of its derivative financial instruments and reflects gain or loss in earnings in the period of change or in other comprehensive income (loss). The Company was not utilizing any derivative instruments as of or for the years ended December 31, 2013, 2012 and 2011. | |
Comprehensive Income | |
The “Comprehensive Income” topic of the FASB ASC establishes standards for the reporting and display of comprehensive income and its components in the financial statements. Other comprehensive income (loss) refers to revenues, expenses, gains, and losses that U.S. generally accepted accounting principles recognize as changes in value to an enterprise but are excluded from net income. For the Company, comprehensive income includes net income and changes in fair value of its available-for-sale investment securities. | |
Loss Contingencies | |
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are currently any such matters that would have a material effect on the consolidated financial statements. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
2. Investment Securities | |||||||||||||||||||||||||
The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows: | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Fair/Book | |||||||||||||||||||||||
31-Dec-13 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,287 | $ | 149 | $ | - | $ | 28,436 | |||||||||||||||||
Mortgage Backed Securities (1) | 329,469 | 3,026 | 7,566 | 324,929 | |||||||||||||||||||||
Corporate Securities | 49,247 | 280 | 147 | 49,380 | |||||||||||||||||||||
Other | 1,894 | - | - | 1,894 | |||||||||||||||||||||
Total | $ | 408,897 | $ | 3,455 | $ | 7,713 | $ | 404,639 | |||||||||||||||||
Amortized | Gross Unrealized | Fair/Book | |||||||||||||||||||||||
31-Dec-12 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 26,546 | $ | 277 | $ | - | $ | 26,823 | |||||||||||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | |||||||||||||||||||||
Mortgage Backed Securities (1) | 341,212 | 11,570 | 10 | 352,772 | |||||||||||||||||||||
Corporate Securities | 22,318 | 252 | 12 | 22,558 | |||||||||||||||||||||
Other | 10,173 | - | - | 10,173 | |||||||||||||||||||||
Total | $ | 405,914 | $ | 12,099 | $ | 22 | $ | 417,991 | |||||||||||||||||
The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows: (in thousands) | |||||||||||||||||||||||||
Book | Gross Unrealized | Fair | |||||||||||||||||||||||
31-Dec-13 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 65,685 | $ | 812 | $ | 627 | $ | 65,870 | |||||||||||||||||
Mortgage Backed Securities (1) | 45 | - | - | 45 | |||||||||||||||||||||
Other | 2,775 | - | - | 2,775 | |||||||||||||||||||||
Total | $ | 68,505 | $ | 812 | $ | 627 | $ | 68,690 | |||||||||||||||||
Book | Gross Unrealized | Fair | |||||||||||||||||||||||
31-Dec-12 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 65,694 | $ | 2,296 | $ | 3 | $ | 67,987 | |||||||||||||||||
Mortgage Backed Securities (1) | 484 | 12 | - | 496 | |||||||||||||||||||||
Other | 2,214 | - | - | 2,214 | |||||||||||||||||||||
Total | $ | 68,392 | $ | 2,308 | $ | 3 | $ | 70,697 | |||||||||||||||||
Fair values are based on quoted market prices or dealer quotes. If a quoted market price or dealer quote is not available, fair value is estimated using quoted market prices for similar securities. | |||||||||||||||||||||||||
(1) All Mortgage Backed Securities were issued by an agency or government sponsored entity of the U.S. government. | |||||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities at December 31, 2013 by contractual maturity are shown in the following tables. (in thousands) | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Fair/Book | Book | Fair | ||||||||||||||||||||||
31-Dec-13 | Cost | Value | Value | Value | |||||||||||||||||||||
Within One Year | $ | 20,191 | $ | 20,229 | $ | 2,449 | $ | 2,467 | |||||||||||||||||
After One Year Through Five Years | 55,970 | 56,132 | 18,866 | 19,286 | |||||||||||||||||||||
After Five Years Through Ten Years | 3,267 | 3,349 | 26,891 | 27,266 | |||||||||||||||||||||
After Ten Years | - | - | 20,254 | 19,626 | |||||||||||||||||||||
79,428 | 79,710 | 68,460 | 68,645 | ||||||||||||||||||||||
Investment Securities Not Due at a Single Maturity Date: | |||||||||||||||||||||||||
Mortgage Backed Securities | 329,469 | 324,929 | 45 | 45 | |||||||||||||||||||||
Total | $ | 408,897 | $ | 404,639 | $ | 68,505 | $ | 68,690 | |||||||||||||||||
Expected maturities of mortgage-backed securities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
The following tables show those investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at the dates indicated. (in thousands) | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
31-Dec-13 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 195,736 | $ | 7,566 | $ | - | $ | - | $ | 195,736 | $ | 7,566 | |||||||||||||
Corporate Securities | 15,297 | 106 | 2,457 | 41 | 17,754 | 147 | |||||||||||||||||||
Total | $ | 211,033 | $ | 7,672 | $ | 2,457 | $ | 41 | $ | 213,490 | $ | 7,713 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 9,518 | $ | 627 | $ | - | $ | - | $ | 9,518 | $ | 627 | |||||||||||||
Total | $ | 9,518 | $ | 627 | $ | - | $ | - | $ | 9,518 | $ | 627 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
31-Dec-12 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 4,542 | $ | 10 | $ | - | $ | - | $ | 4,542 | $ | 10 | |||||||||||||
Corporate Securities | 3,442 | 12 | - | - | 3,442 | 12 | |||||||||||||||||||
Total | $ | 7,984 | $ | 22 | $ | - | $ | - | $ | 7,984 | $ | 22 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 528 | $ | 3 | $ | - | $ | - | $ | 528 | $ | 3 | |||||||||||||
Total | $ | 528 | $ | 3 | $ | - | $ | - | $ | 528 | $ | 3 | |||||||||||||
As of December 31, 2013, the Company held 352 investment securities of which 72 were in an unrealized loss position for less than twelve months. Two securities were in an unrealized loss position for twelve months or more. Management periodically evaluates each investment security for other-than-temporary impairment relying primarily on industry analyst reports and observations of market conditions and interest rate fluctuations. Management believes it will be able to collect all amounts due according to the contractual terms of the underlying investment securities. | |||||||||||||||||||||||||
Securities of Government Agency and Government Sponsored Entities – There were no unrealized losses on the Company's investments in securities of government agency and government sponsored entities at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||
Mortgage Backed Securities - The unrealized losses on the Company's investment in mortgage-backed securities were $7.6 million at December 31, 2013 and $10,000 at December 31, 2012, respectively. The unrealized losses on the Company’s investment in mortgage-backed securities were caused by interest rate fluctuations. The contractual cash flows of these investments are guaranteed by an agency or government sponsored entity of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company's investment. Because the decline in market value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the securities and it is more likely than not that the Company will not have to sell the securities before recovery of their cost basis, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013 or 2012. | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions - The continuing financial problems being experienced by certain municipalities, along with the financial stresses exhibited by some of the large monoline bond insurers have increased the overall risk associated with bank-qualified municipal bonds. As of December 31, 2013, over ninety-three percent of the Company’s bank-qualified municipal bond portfolio is rated at either the issue or the issuer level, and all of these ratings are “investment grade.” The Company monitors the status of the seven percent of the portfolio that is not rated and at the current time does not believe any of them to be exhibiting financial problems that could result in a loss in any individual security. | |||||||||||||||||||||||||
The unrealized losses on the Company’s investment in obligation of states and political subdivision were $627,000 at December 31, 2013 and $3,000 at December 31, 2012. Management believes that any unrealized losses on the Company's investments in obligations of states and political subdivisions were caused by interest rate fluctuations. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because the Company did not intend to sell the securities and it is more likely than not that the Company would not have to sell the securities before recovery of their cost basis, the Company did not consider these investments to be other-than-temporarily impaired at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||
Corporate Securities - The unrealized losses on the Company’s investment in corporate securities were $147,000 at December 31, 2013 and $12,000 at December 31, 2012. Changes in the prices of corporate securities are primarily influenced by: (1) changes in market interest rates; (2) changes in perceived credit risk in the general economy or in particular industries; (3) changes in the perceived credit risk of a particular company; and (4) day to day trading supply, demand and liquidity. Because the Company does not intend to sell the securities and it is more likely than not that the Company will not have to sell the securities before recovery of their cost basis, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013 or 2012. | |||||||||||||||||||||||||
Proceeds from sales and calls of securities available-for-sale were as follows: | |||||||||||||||||||||||||
(in thousands) | Gross | Gross | Gross | ||||||||||||||||||||||
Proceeds | Gains | Losses | |||||||||||||||||||||||
2013 | $ | 81,390 | $ | 1,208 | $ | 1,437 | |||||||||||||||||||
2012 | 55,986 | 158 | - | ||||||||||||||||||||||
2011 | 201,135 | 95 | - | ||||||||||||||||||||||
As of December 31, 2013, securities carried at $334.8 million were pledged to secure public deposits, FHLB borrowings, and other government agency deposits as required by law. This amount at December 31, 2012, was $296.9 million. |
Federal_Home_Loan_Bank_of_San_
Federal Home Loan Bank of San Francisco Stock | 12 Months Ended |
Dec. 31, 2013 | |
Federal Home Loan Bank of San Francisco Stock [Abstract] | ' |
Federal Home Loan Bank of San Francisco Stock | ' |
3. Federal Home Loan Bank of San Francisco Stock | |
The Bank is a member of the FHLB system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. FHLB stock is reported in Other Assets and Interest Receivable on the Company’s Consolidated Balance Sheets and totaled $7.2 million at December 31, 2013 and $7.4 million at December 31, 2012. |
Loans_Leases
Loans & Leases | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Loans & Leases [Abstract] | ' | ||||||||
Loans & Leases | ' | ||||||||
4. Loans & Leases | |||||||||
Loans & leases as of December 31 consisted of the following: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Commercial Real Estate | $ | 411,037 | $ | 353,109 | |||||
Agricultural Real Estate | 328,264 | 311,992 | |||||||
Real Estate Construction | 41,092 | 32,680 | |||||||
Residential 1st Mortgages | 151,292 | 140,257 | |||||||
Home Equity Lines and Loans | 35,477 | 42,042 | |||||||
Agricultural | 256,414 | 221,032 | |||||||
Commercial | 150,398 | 143,293 | |||||||
Consumer & Other | 5,052 | 5,058 | |||||||
Leases | 12,733 | - | |||||||
Total Gross Loans & Leases | 1,391,759 | 1,249,463 | |||||||
Less: Unearned Income | 3,523 | 2,561 | |||||||
Subtotal | 1,388,236 | 1,246,902 | |||||||
Less: Allowance for Credit Losses | 34,274 | 34,217 | |||||||
Loans & Leases, Net | $ | 1,353,962 | $ | 1,212,685 | |||||
At December 31, 2013, the portion of loans that were approved for pledging as collateral on borrowing lines with the Federal Home Loan Bank (“FHLB”) and the Federal Reserve Bank (“FRB”) were $456.5 million and $496.5 million, respectively. The borrowing capacity on these loans was $346.4 million from FHLB and $369.4 million from the FRB. |
Allowance_for_Credit_Losses
Allowance for Credit Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||||||||||||||||||
5. Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show the allocation of the allowance for credit losses at December 31, 2013 and December 31, 2012 by portfolio segment and by impairment methodology (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Commercial Real Estate | Agricultural Real Estate | Real Estate Construction | Residential 1st Mortgages | Home Equity Lines & Loans | Agricultural | Commercial | Consumer & Other | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2013 | $ | 6,464 | $ | 2,877 | $ | 986 | $ | 1,219 | $ | 3,235 | $ | 10,437 | $ | 7,963 | $ | 182 | $ | - | $ | 854 | $ | 34,217 | |||||||||||||||||||||||
Charge-Offs | (6 | ) | (575 | ) | - | (16 | ) | (91 | ) | (23 | ) | (60 | ) | (120 | ) | - | - | (891 | ) | ||||||||||||||||||||||||||
Recoveries | - | - | - | - | 115 | 42 | 312 | 54 | - | - | 523 | ||||||||||||||||||||||||||||||||||
Provision | (1,280 | ) | 1,274 | (332 | ) | (95 | ) | (492 | ) | 1,749 | (2,518 | ) | 60 | 639 | 1,420 | 425 | |||||||||||||||||||||||||||||
Ending Balance- December 31, 2013 | $ | 5,178 | $ | 3,576 | $ | 654 | $ | 1,108 | $ | 2,767 | $ | 12,205 | $ | 5,697 | $ | 176 | $ | 639 | $ | 2,274 | $ | 34,274 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | - | - | - | 414 | 209 | 122 | 820 | 51 | - | - | 1,616 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,178 | 3,576 | 654 | 694 | 2,558 | 12,083 | 4,877 | 125 | 639 | 2,274 | 32,658 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 407,514 | $ | 328,264 | $ | 41,092 | $ | 151,292 | $ | 35,477 | $ | 256,414 | $ | 150,398 | $ | 5,052 | $ | 12,733 | $ | - | $ | 1,388,236 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,176 | - | 4,500 | 2,072 | 1,045 | 522 | 5,250 | 51 | - | - | 35,616 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 385,338 | 328,264 | 36,592 | 149,220 | 34,432 | 255,892 | 145,148 | 5,001 | 12,733 | - | 1,352,620 | ||||||||||||||||||||||||||||||||||
31-Dec-12 | Commercial Real Estate | Agricultural Real Estate | Real Estate Construction | Residential 1st Mortgages | Home Equity Lines & Loans | Agricultural | Commercial | Consumer & Other | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2012 | $ | 5,823 | $ | 2,583 | $ | 1,933 | $ | 1,251 | $ | 3,746 | $ | 8,127 | $ | 8,733 | $ | 207 | $ | - | $ | 614 | $ | 33,017 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (152 | ) | (259 | ) | (294 | ) | (198 | ) | (145 | ) | - | - | (1,048 | ) | ||||||||||||||||||||||||||||
Recoveries | - | 90 | - | 53 | 14 | 61 | 117 | 63 | - | - | 398 | ||||||||||||||||||||||||||||||||||
Provision | 641 | 204 | (947 | ) | 67 | (266 | ) | 2,543 | (689 | ) | 57 | - | 240 | 1,850 | |||||||||||||||||||||||||||||||
Ending Balance- December 31, 2012 | $ | 6,464 | $ | 2,877 | $ | 986 | $ | 1,219 | $ | 3,235 | $ | 10,437 | $ | 7,963 | $ | 182 | $ | - | $ | 854 | $ | 34,217 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 1,272 | - | 259 | 55 | 182 | 996 | 151 | 61 | - | - | 2,976 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,192 | 2,877 | 727 | 1,164 | 3,053 | 9,441 | 7,812 | 121 | - | 854 | 31,241 | ||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 350,548 | $ | 311,992 | $ | 32,680 | $ | 140,257 | $ | 42,042 | $ | 221,032 | $ | 143,293 | $ | 5,058 | $ | - | $ | - | $ | 1,246,902 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,835 | 5,423 | 4,603 | 1,849 | 1,199 | 3,937 | 309 | 61 | - | - | 40,216 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 327,713 | 306,569 | 28,077 | 138,408 | 40,843 | 217,095 | 142,984 | 4,997 | - | - | 1,206,686 | ||||||||||||||||||||||||||||||||||
The ending balance of loans individually evaluated for impairment includes restructured loans in the amount of $28.4 million and $28.6 million at December 31, 2013 and 2012, respectively, which are no longer disclosed or classified as TDR’s. | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show the loan & lease portfolio allocated by management’s internal risk ratings at December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Pass | Mention | Substandard | Loans & Leases | |||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 398,488 | $ | 7,979 | $ | 1,047 | $ | 407,514 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 325,926 | 2,338 | - | 328,264 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 39,460 | 1,632 | - | 41,092 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 149,798 | 774 | 720 | 151,292 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 34,821 | - | 656 | 35,477 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 255,443 | 889 | 82 | 256,414 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 132,008 | 15,426 | 2,964 | 150,398 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,763 | - | 289 | 5,052 | |||||||||||||||||||||||||||||||||||||||||
Leases | 12,733 | - | - | 12,733 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,353,440 | $ | 29,038 | $ | 5,758 | $ | 1,388,236 | |||||||||||||||||||||||||||||||||||||
31-Dec-12 | Pass | Special Mention | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 326,037 | $ | 15,528 | $ | 8,983 | $ | 350,548 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 299,642 | 6,605 | 5,745 | 311,992 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 26,445 | 6,235 | - | 32,680 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 137,998 | 1,192 | 1,067 | 140,257 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 40,866 | - | 1,176 | 42,042 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 216,164 | 1,168 | 3,700 | 221,032 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 137,217 | 5,586 | 490 | 143,293 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,737 | - | 321 | 5,058 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,189,106 | $ | 36,314 | $ | 21,482 | $ | 1,246,902 | |||||||||||||||||||||||||||||||||||||
See Note 1. Significant Accounting Policies – Allowance for Credit Losses for a description of the internal risk ratings used by the Company. There were no loans & leases outstanding at December 31, 2013 and 2012 rated doubtful or loss. | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show an aging analysis of the loan & lease portfolio by the time past due at December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-89 Days | 90 Days and | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans & Leases | |||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 773 | $ | - | $ | - | $ | 773 | $ | 406,741 | $ | 407,514 | |||||||||||||||||||||||||||||||||
Agricultural Real Estate | 607 | - | - | 607 | 327,657 | 328,264 | |||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | 41,092 | 41,092 | |||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | 324 | 324 | 150,968 | 151,292 | |||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 52 | - | 406 | 458 | 35,019 | 35,477 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | 35 | 35 | 256,379 | 256,414 | |||||||||||||||||||||||||||||||||||||||
Commercial | - | - | 1,815 | 1,815 | 148,583 | 150,398 | |||||||||||||||||||||||||||||||||||||||
Consumer & Other | 19 | - | 16 | 35 | 5,017 | 5,052 | |||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | 12,733 | 12,733 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 1,451 | $ | - | $ | 2,596 | $ | 4,047 | $ | 1,384,189 | $ | 1,388,236 | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days and | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | |||||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 150 | $ | - | $ | - | $ | 150 | $ | 350,398 | $ | 350,548 | |||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | 5,423 | 5,423 | 306,569 | 311,992 | |||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | 32,680 | 32,680 | |||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 23 | - | 445 | 468 | 139,789 | 140,257 | |||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 70 | - | 213 | 283 | 41,759 | 42,042 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | 3,198 | 3,198 | 217,834 | 221,032 | |||||||||||||||||||||||||||||||||||||||
Commercial | 293 | - | - | 293 | 143,000 | 143,293 | |||||||||||||||||||||||||||||||||||||||
Consumer & Other | 11 | - | 19 | 30 | 5,028 | 5,058 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 547 | $ | - | $ | 9,298 | $ | 9,845 | $ | 1,237,057 | $ | 1,246,902 | |||||||||||||||||||||||||||||||||
Non-accrual loans & leases at December 31, 2013 and 2012 were $2.6 million and $9.3 million, respectively. Interest income forgone on loans & leases placed on non-accrual status was $30,500, $209,000, and $385,000 for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show information related to impaired loans & leases at and for the year ended December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 102 | $ | 101 | $ | - | $ | 865 | $ | 8 | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 2,185 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 450 | 11 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | 228 | 5 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 35 | 43 | - | 586 | - | ||||||||||||||||||||||||||||||||||||||||
Commercial | 3,474 | 3,532 | - | 939 | 13 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
$ | 3,611 | $ | 3,676 | $ | - | $ | 5,253 | $ | 37 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 823 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 769 | 826 | 154 | 254 | 6 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 689 | 821 | 138 | 332 | 3 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 488 | 488 | 122 | 1,002 | 31 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 1,641 | 1,657 | 820 | 1,072 | 6 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 50 | 53 | 50 | 126 | 3 | ||||||||||||||||||||||||||||||||||||||||
$ | 3,637 | $ | 3,845 | $ | 1,284 | $ | 3,611 | $ | 49 | ||||||||||||||||||||||||||||||||||||
Total | $ | 7,248 | $ | 7,521 | $ | 1,284 | $ | 8,864 | $ | 86 | |||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 289 | $ | 289 | $ | - | $ | 506 | $ | 20 | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 5,437 | 5,454 | - | 2,611 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 658 | 761 | - | 458 | 3 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 792 | 871 | - | 775 | 23 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 1,932 | 1,954 | - | 1,159 | 19 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 106 | 106 | - | 144 | 6 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
$ | 9,214 | $ | 9,435 | $ | - | $ | 5,653 | $ | 71 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 54 | - | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 194 | 237 | 173 | 182 | 4 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 2,006 | 2,019 | 996 | 997 | 1 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 144 | 144 | 144 | 159 | 4 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 61 | 63 | 61 | 31 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 2,405 | $ | 2,463 | $ | 1,374 | $ | 1,423 | $ | 9 | ||||||||||||||||||||||||||||||||||||
Total | $ | 11,619 | $ | 11,898 | $ | 1,374 | $ | 7,076 | $ | 80 | |||||||||||||||||||||||||||||||||||
Total recorded investment shown in the prior table will not equal the total ending balance of loans & leases individually evaluated for impairment on the allocation of allowance table. This is because the calculation of recorded investment takes into account charge-offs, net unamortized loan & lease fees & costs, unamortized premium or discount, and accrued interest. This table also excludes impaired loans that were previously modified in a troubled debt restructuring, are currently performing and are no longer disclosed or classified as TDR’s. | |||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, the Company allocated $1.2 million of specific reserves to $6.8 million of troubled debt restructured loans, of which $4.6 million were performing. At December 31, 2012, the Company allocated $401,000 of specific reserves to $2.6 million of troubled debt restructured loans, of which $2.3 million were performing. The Company had no commitments at December 31, 2013 and December 31, 2012 to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. | |||||||||||||||||||||||||||||||||||||||||||||
During the period ending December 31, 2013, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. | |||||||||||||||||||||||||||||||||||||||||||||
Modifications involving a reduction of the stated interest rate of the loan were for periods of 5 years. Modifications involving an extension of the maturity date were for periods ranging from 6 months to 10 years. | |||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructured loans for the period ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 4 | $ | 306 | $ | 290 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 4 | 414 | 387 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | 4 | 5,016 | 5,016 | ||||||||||||||||||||||||||||||||||||||||||
Total | 12 | $ | 5,736 | $ | 5,693 | ||||||||||||||||||||||||||||||||||||||||
The troubled debt restructurings described above did not increase the allowance for credit losses but did result in charge-offs of $43,000 for the twelve months ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, there was one commercial loan with an outstanding balance of $174,000 that was previously modified as a troubled debt restructuring within the previous 12 months that subsequently defaulted during the twelve months ended December 31, 2013. This defaulted loan did not increase the allowance for credit loss and did not result in any charge offs during the twelve-month period ending December 31, 2013. The Company considers a loan to be in payment default once it is greater than 90 days contractually past due under the modified terms. | |||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructured loans for the period ended December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 1 | $ | 116 | $ | 116 | ||||||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 2 | 216 | 201 | ||||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 7 | 529 | 480 | ||||||||||||||||||||||||||||||||||||||||||
Agricultural | 4 | 858 | 858 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | 3 | 273 | 273 | ||||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 1 | 41 | 41 | ||||||||||||||||||||||||||||||||||||||||||
Total | 18 | $ | 2,033 | $ | 1,969 | ||||||||||||||||||||||||||||||||||||||||
The troubled debt restructurings described above increased the allowance for loan losses by $53,000 and resulted in charge-offs of $64,000 during the year ended December 31, 2012. | |||||||||||||||||||||||||||||||||||||||||||||
During the period ended December 31, 2012, there were no payment defaults on loans modified as troubled debt restructurings within twelve months following the modification. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Premises and Equipment [Abstract] | ' | ||||||||
Premises and Equipment | ' | ||||||||
6. Premises and Equipment | |||||||||
Premises and equipment as of December 31, consisted of the following: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Land and Buildings | $ | 33,354 | $ | 32,843 | |||||
Furniture, Fixtures, and Equipment | 16,770 | 17,024 | |||||||
Leasehold Improvements | 2,060 | 2,054 | |||||||
Subtotal | 52,184 | 51,921 | |||||||
Less: Accumulated Depreciation and Amortization | 29,297 | 29,020 | |||||||
Total | $ | 22,887 | $ | 22,901 | |||||
Depreciation and amortization on premises and equipment included in occupancy and equipment expense amounted to $1,506,000, $1,704,000, and $1,801,000 for the years ended December 31, 2013, 2012, and 2011, respectively. Total rental expense for premises was $411,000, $391,000, and $386,000 for the years ended December 31, 2013, 2012, and 2011, respectively. Rental income was $102,000, $148,000, and $130,000 for the years ended December 31, 2013, 2012, and 2011, respectively. |
Other_Real_Estate
Other Real Estate | 12 Months Ended |
Dec. 31, 2013 | |
Other Real Estate [Abstract] | ' |
Other Real Estate | ' |
7. Other Real Estate | |
The Bank reported $4.6 million, net of $3.7 million reserve, in other real estate at December 31, 2013, and $2.6 million, net of $4.1 million reserve, in 2012. Other real estate includes property no longer utilized for business operations and property acquired through foreclosure proceedings. These properties are carried at fair value less selling costs determined at the date acquired. Losses, if any, arising from properties acquired through foreclosure are charged against the allowance for loan losses at the time of foreclosure. Subsequent declines in value, periodic holding costs, and net gains or losses on disposition are included in other operating expense as incurred. Other real estate is reported in Interest Receivable and Other Assets on the Company’s Consolidated Balance Sheets. |
Time_Deposits
Time Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Time Deposits [Abstract] | ' | ||||||||
Time Deposits | ' | ||||||||
8. Time Deposits | |||||||||
Time Deposits of $100,000 or more as of December 31 were as follows: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Balance | $ | 313,660 | $ | 328,014 | |||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
(in thousands) | Scheduled | ||||||||
Maturities | |||||||||
2014 | $ | 381,392 | |||||||
2015 | 25,665 | ||||||||
2016 | 12,292 | ||||||||
2017 | 9,010 | ||||||||
2018 | 2,063 | ||||||||
Total | $ | 430,422 |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||
9. Income Taxes | |||||||||||||||||||||||||
Current and deferred income tax expense (benefit) provided for the years ended December 31 consisted of the following: | |||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current | |||||||||||||||||||||||||
Federal | $ | 11,497 | $ | 12,252 | $ | 10,168 | |||||||||||||||||||
State | 4,357 | 4,281 | 3,734 | ||||||||||||||||||||||
Total Current | 15,854 | 16,533 | 13,902 | ||||||||||||||||||||||
Deferred | |||||||||||||||||||||||||
Federal | (998 | ) | (2,041 | ) | (685 | ) | |||||||||||||||||||
State | (635 | ) | (507 | ) | (575 | ) | |||||||||||||||||||
Total Deferred | (1,633 | ) | (2,548 | ) | (1,260 | ) | |||||||||||||||||||
Total Provision for Taxes | $ | 14,221 | $ | 13,985 | $ | 12,642 | |||||||||||||||||||
The total provision for income taxes differs from the federal statutory rate as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | Amount | Rate | Amount | Rate | Amount | Rate | |||||||||||||||||||
Tax Provision at Federal Statutory Rate | $ | 13,399 | 35 | % | $ | 13,067 | 35 | % | $ | 12,198 | 35 | % | |||||||||||||
Interest on Obligations of States and Political Subdivisions exempt from Federal Taxation | (894 | ) | (2.3 | %) | (917 | ) | (2.5 | %) | (884 | ) | (2.5 | %) | |||||||||||||
State and Local Income Taxes, Net of Federal Income Tax Benefit | 2,419 | 6.3 | % | 2,453 | 6.6 | % | 2,053 | 5.9 | % | ||||||||||||||||
Bank Owned Life Insurance | (702 | ) | (1.8 | %) | (675 | ) | (1.8 | %) | (663 | ) | (1.9 | %) | |||||||||||||
Low-Income Housing Tax Credit | (129 | ) | (0.3 | %) | - | - | - | - | |||||||||||||||||
Other, Net | 128 | 0.3 | % | 57 | 0.2 | % | (62 | ) | (0.2 | %) | |||||||||||||||
Total Provision for Taxes | $ | 14,221 | 37.1 | % | $ | 13,985 | 37.5 | % | $ | 12,642 | 36.3 | % | |||||||||||||
The components of net deferred tax assets as of December 31 are as follows: | |||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Deferred Tax Assets | |||||||||||||||||||||||||
Allowance for Credit Losses | $ | 14,470 | $ | 14,446 | |||||||||||||||||||||
Accrued Liabilities | 7,723 | 6,283 | |||||||||||||||||||||||
Deferred Compensation | 8,859 | 7,015 | |||||||||||||||||||||||
State Franchise Tax | 1,525 | 1,498 | |||||||||||||||||||||||
Capital Loss Carry Forward | - | 210 | |||||||||||||||||||||||
Interest on Non-Accrual Loans | 15 | 96 | |||||||||||||||||||||||
ORE Writedown and Holding Costs | 1,713 | 1,852 | |||||||||||||||||||||||
Unrealized Loss on Securities Available-for-Sale | 1,790 | - | |||||||||||||||||||||||
Low-Income Housing Investment | 21 | - | |||||||||||||||||||||||
Total Deferred Tax Assets | $ | 36,116 | $ | 31,400 | |||||||||||||||||||||
Deferred Tax Liabilities | |||||||||||||||||||||||||
Premises and Equipment | (213 | ) | (415 | ) | |||||||||||||||||||||
Securities Accretion | (966 | ) | (996 | ) | |||||||||||||||||||||
Unrealized Gain on Securities Available-for-Sale | - | (5,078 | ) | ||||||||||||||||||||||
Leasing Activities | (1,501 | ) | - | ||||||||||||||||||||||
Other | (787 | ) | (763 | ) | |||||||||||||||||||||
Total Deferred Tax Liabilities | (3,467 | ) | (7,252 | ) | |||||||||||||||||||||
Net Deferred Tax Assets | $ | 32,649 | $ | 24,148 | |||||||||||||||||||||
The net deferred tax assets are reported in Interest Receivable and Other Assets on the Company's Consolidated Balance Sheet. | |||||||||||||||||||||||||
The Company and its subsidiaries file income tax returns in the U.S. federal and California jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2007. |
Short_Term_Borrowings
Short Term Borrowings | 12 Months Ended |
Dec. 31, 2013 | |
Short Term Borrowings [Abstract] | ' |
Short Term Borrowings | ' |
10. Short Term Borrowings | |
As of December 31, 2013 and 2012, the Company had unused lines of credit available for short-term liquidity purposes of $887.8 million and $760.9 million, respectively. Federal Funds purchased and advances are generally issued on an overnight basis. There were no advances from the FHLB at December 31, 2013 or 2012. There were no Federal Funds purchased or advances from the FRB at December 31, 2013 or 2012. |
Securities_Sold_Under_Agreemen
Securities Sold Under Agreement to Repurchase | 12 Months Ended |
Dec. 31, 2013 | |
Securities Sold Under Agreement to Repurchase [Abstract] | ' |
Securities Sold Under Agreement to Repurchase | ' |
11. Securities Sold Under Agreement to Repurchase | |
Securities Sold Under Agreement to Repurchase are used as secured borrowing alternatives to FHLB Advances or FRB Borrowings. | |
In 2008, the Bank entered into medium term repurchase agreements with Citigroup totaling $60 million. In 2012, the repurchase agreements with Citigroup were terminated resulting in an early termination fee totaling $1.7 million. The Bank had determined that it was appropriate to replace these relatively “high-cost” borrowings with short-term FHLB advances at substantially lower rates. | |
At December 31, 2013 and December 31, 2012, the Company had no securities sold under agreement to repurchase. |
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2013 | |
Federal Home Loan Bank Advances [Abstract] | ' |
Federal Home Loan Bank Advances | ' |
12. Federal Home Loan Bank Advances | |
The Company had no short-term or long-term advances from the Federal Home Loan Bank of San Francisco at December 31, 2013 or at December 31, 2012. At December 31, 2011, the Company had a $530,000, 5.60% amortizing note, interest and principal payable monthly with final maturity of September 25, 2018. On December 31, 2012 the Company paid off the long-term advance from the FHLB resulting in a prepayment fee of $70,000. The Company determined that the time was appropriate to eliminate this relatively “high cost” advance given the Company’s liquidity position. | |
In accordance with the Collateral Pledge and Security Agreement, advances are secured by all FHLB stock held by the Company and by government agency & government-sponsored entity securities and mortgage-backed securities with borrowing capacity of $1.0 million. At December 31, 2013, $456.5 million in loans were approved for pledging as collateral on borrowing lines with the FHLB. The borrowing capacity on these loans was $346.4 million. |
Longterm_Subordinated_Debentur
Long-term Subordinated Debentures | 12 Months Ended |
Dec. 31, 2013 | |
Long-term Subordinated Debentures [Abstract] | ' |
Long-term Subordinated Debentures | ' |
13. Long-term Subordinated Debentures | |
In December 2003, the Company formed a wholly owned Connecticut statutory business trust, FMCB Statutory Trust I (“Statutory Trust I”), which issued $10,000,000 of guaranteed preferred beneficial interests in the Company’s junior subordinated deferrable interest debentures (the “Trust Preferred Securities”). The Company is not considered the primary beneficiary of the trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. These debentures qualify as Tier 1 capital under current regulatory guidelines. All of the common securities of Statutory Trust I are owned by the Company. The proceeds from the issuance of the common securities and the Trust Preferred Securities were used by FMCB Statutory Trust to purchase $10,310,000 of junior subordinated debentures of the Company, which carry a floating rate based on three-month LIBOR plus 2.85%. The debentures represent the sole asset of Statutory Trust I. The Trust Preferred Securities accrue and pay distributions at a floating rate of three-month LIBOR plus 2.85% per annum of the stated liquidation value of $1,000 per capital security. The Company has entered into contractual arrangements which, taken collectively, fully and unconditionally guarantee payment to the extent that Statutory Trust I has funds available therefore of: (i) accrued and unpaid distributions required to be paid on the Trust Preferred Securities; (ii) the redemption price with respect to any Trust Preferred Securities called for redemption by Statutory Trust I; and (iii) payments due upon a voluntary or involuntary dissolution, winding up, or liquidation of Statutory Trust I. The Trust Preferred Securities are mandatorily redeemable upon maturity of the subordinated debentures on December 17, 2033, or upon earlier redemption as provided in the indenture. The Company has the right to redeem the subordinated debentures purchased by Statutory Trust I, in whole or in part, on or after December 17, 2008. As specified in the indenture, if the subordinated debentures are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest. Additionally, if the Company decided to defer interest on the subordinated debentures, the Company would be prohibited from paying cash dividends on the Company’s common stock. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||||||||||||||
Shareholders' Equity | ' | ||||||||||||||||||||||||
14. Shareholders' Equity | |||||||||||||||||||||||||
In 1998, the Board approved the Company’s first common stock repurchase program. This program has been extended and expanded several times since then, and most recently, on September 11, 2012, the Board of Directors approved increasing the funds available for the Company’s common stock repurchase program to $20 million over the three-year period ending September 30, 2015. | |||||||||||||||||||||||||
Repurchases under the program will continue to be made on the open market or through private transactions. The repurchase program also requires that no purchases may be made if the Bank would not remain “well-capitalized” after the repurchase. | |||||||||||||||||||||||||
Dividends from the Bank constitute the principal source of cash to the Company. The Company is a legal entity separate and distinct from the Bank. Under regulations controlling California state chartered banks, the Bank is, to some extent, limited in the amount of dividends that can be paid to the Company without prior approval of the California DBO. These regulations require approval if total dividends declared by a state chartered bank in any calendar year exceed the bank's net profits for that year combined with its retained net profits for the preceding two calendar years. | |||||||||||||||||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company and 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. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios set forth in the following table of Total and Tier 1 capital to risk-weighted assets (as defined in the regulations), and of Tier 1 capital to average assets (as defined in the regulations). Management believes, as of December 31, 2013, that the Company and the Bank meet all capital adequacy requirements to which they are subject. | |||||||||||||||||||||||||
In addition, the most recent notification from the FDIC categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. 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 tables. There are no conditions or events since that notification that management believes have changed the Bank’s category. | |||||||||||||||||||||||||
Well Capitalized | |||||||||||||||||||||||||
Regulatory Capital | Under Prompt | ||||||||||||||||||||||||
(in thousands) | Actual | Requirements | Corrective Action | ||||||||||||||||||||||
31-Dec-13 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Total Bank Capital to Risk Weighted Assets | $ | 244,087 | 13.98 | % | $ | 139,674 | 8 | % | $ | 174,593 | 10 | % | |||||||||||||
Total Consolidated Capital to Risk Weighted Assets | $ | 244,354 | 13.99 | % | $ | 139,689 | 8 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Risk Weighted Assets | $ | 222,108 | 12.72 | % | $ | 69,837 | 4 | % | $ | 104,756 | 6 | % | |||||||||||||
Tier 1 Consolidated Capital to Risk Weighted Assets | $ | 222,372 | 12.74 | % | $ | 69,845 | 4 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Average Assets | $ | 222,108 | 11.02 | % | $ | 80,633 | 4 | % | $ | 100,791 | 5 | % | |||||||||||||
Tier 1 Consolidated Capital to Average Assets | $ | 222,372 | 11.01 | % | $ | 80,755 | 4 | % | N/ | A | N/ | A | |||||||||||||
Well Capitalized | |||||||||||||||||||||||||
Regulatory Capital | Under Prompt | ||||||||||||||||||||||||
(in thousands) | Actual | Requirements | Corrective Action | ||||||||||||||||||||||
31-Dec-12 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Total Bank Capital to Risk Weighted Assets | $ | 226,931 | 14.94 | % | $ | 121,506 | 8 | % | $ | 151,883 | 10 | % | |||||||||||||
Total Consolidated Capital to Risk Weighted Assets | $ | 227,214 | 14.96 | % | $ | 121,536 | 8 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Risk Weighted Assets | $ | 207,756 | 13.68 | % | $ | 60,753 | 4 | % | $ | 91,130 | 6 | % | |||||||||||||
Tier 1 Consolidated Capital to Risk Weighted Assets | $ | 208,034 | 13.69 | % | $ | 60,768 | 4 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Average Assets | $ | 207,756 | 10.86 | % | $ | 76,493 | 4 | % | $ | 95,616 | 5 | % | |||||||||||||
Tier 1 Consolidated Capital to Average Assets | $ | 208,034 | 10.86 | % | $ | 76,605 | 4 | % | N/ | A | N/ | A |
Dividends_and_Basic_Earnings_P
Dividends and Basic Earnings Per Common Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ||||||||||||
Dividends and Basic Earnings Per Common Share | ' | ||||||||||||
15. Dividends and Basic Earnings Per Common Share | |||||||||||||
Total cash dividends during 2013 were $9,723,000 or $12.50 per share of common stock, an increase of 3.3% per share from $9,418,000 or $12.10 per share in 2012. In 2011, cash dividends totaled $9,158,000 or $11.75 per share. | |||||||||||||
Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. The following table calculates the basic earnings per common share for the periods indicated. | |||||||||||||
(net income in thousands) | 2013 | 2012 | 2011 | ||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Average Number of Common Shares Outstanding | 777,882 | 778,648 | 779,424 | ||||||||||
Basic Earnings Per Common Share | $ | 30.93 | $ | 29.99 | $ | 28.49 |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Employee Benefit Plans [Abstract] | ' |
Employee Benefit Plans | ' |
16. Employee Benefit Plans | |
Profit Sharing Plan | |
The Company, through the Bank, sponsors a Profit Sharing Plan for substantially all full-time employees of the Company with one or more years of service. Participants receive up to two annual employer contributions, one is discretionary and the other is mandatory. The discretionary contributions to the Profit Sharing Plan are determined annually by the Board of Directors. The discretionary contributions totaled $825,000, $800,000, and $775,000 for the years ended December 31, 2013, 2012, and 2011, respectively. The mandatory contributions to the Profit Sharing Plan are made according to a predetermined set of criteria. Mandatory contributions totaled $952,000, $941,000, and $868,000 for the years ended December 31, 2013, 2012, and 2011, respectively. Company employees are permitted, within limitations imposed by tax law, to make pretax contributions to the 401(k) feature of the Profit Sharing Plan. The Company does not match employee contributions within the 401(k) feature of the Profit Sharing Plan and the Company can terminate the Profit Sharing Plan at any time. Benefits pursuant to the Profit Sharing Plan vest 0% during the first year of participation, 25% per full year thereafter and after five years such benefits are fully vested. | |
Executive Retirement Plan and Life Insurance Arrangements | |
The Company, through the Bank, sponsors an Executive Retirement Plan for certain executive level employees. The Executive Retirement Plan is a non-qualified defined contribution plan and was developed to supplement the Company’s Profit Sharing Plan, which, as a qualified retirement plan, has a ceiling on benefits as set by the Internal Revenue Service. The Plan is comprised of: (1) a Performance Component which makes contributions based upon long-term cumulative profitability and increase in market value of the Company, and vests 50% during the first and second years of participation; (2) a Retention Component applicable to participants employed by the Company as of January 1, 2005 (contributions to this component were frozen effective December 31, 2010); (3) a Salary Component which makes contributions based upon participant salary levels and cliff vests after five years of service; and (4) an Equity Component for which contributions are discretionary and subject to Board of Directors approval and vests 50% during the first and second year of participation. Executive Retirement Plan contributions are invested in a mix of financial instruments; however Equity Component contributions are invested primarily in stock of the Company. | |
The Company expensed $2.7 million to the Executive Retirement Plan during the year ended December 31, 2013, $2.6 million during the year ended December 31, 2012 and $2.3 million during the year ended December 31, 2011. The Company’s total accrued liability under the Executive Retirement Plan was $24.1 million as of December 31, 2013 and $19.3 million as of December 31, 2012. | |
The Company has purchased single premium life insurance policies on the lives of certain key employees of the Company. These policies provide: (1) financial protection to the Company in the event of the death of a key employee; and (2) since the interest earned on the cash surrender value of the policies is tax exempt as long as the policies are used to finance employee benefits, significant income to the Company to offset the expense associated with the Executive Retirement Plan and other employee benefit plans. As compensation to each employee for agreeing to allow the Company to purchase an insurance policy on his or her life, split dollar agreements have been entered into with those employees. These agreements provide for a division of the life insurance death proceeds between the Company and each employee’s designated beneficiary or beneficiaries. | |
The Company earned tax-exempt interest on the life insurance policies of $1.9 million for the year ended December 31, 2013, and $1.8 million for the years ended December 31, 2012, and 2011. As of December 31, 2013 and 2012, the total cash surrender value of the insurance policies was $52.1 million and $50.3 million, respectively. | |
Senior Management Retention Plan | |
The Company, through the Bank, sponsors a Senior Management Retention Plan (SMRP) for certain senior level employees. The SMRP is a non-qualified defined contribution plan and was developed to supplement the Company’s Profit Sharing Plan, which, as a qualified retirement plan, has a ceiling on benefits as set by the Internal Revenue Service. All contributions are discretionary and subject to the Board of Directors approval and vests 50% during the first and second year of participation. Contributions are invested primarily in stock of the Company. The Company expensed $536,000 to the SMRP during the year ended December 31, 2013 and $206,000 during the year ended December 31, 2012, the first year the plan was in place. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
17. Fair Value Measurements | |||||||||||||||||
The Company follows the “Fair Value Measurement and Disclosures” topic of the FASB ASC, which establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value measurements. This standard applies whenever other standards require, or permit, assets or liabilities to be measured at fair value but does not expand the use of fair value in any new circumstances. In this standard, the FASB clarifies the principle that fair value should be based on the assumptions market participants would use when pricing the asset or liability. In support of this principle, this standard establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. The fair value hierarchy is as follows: | |||||||||||||||||
Level 1 inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. | |||||||||||||||||
Level 2 inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. | |||||||||||||||||
Level 3 inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | |||||||||||||||||
Management monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. | |||||||||||||||||
Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities or total earnings. | |||||||||||||||||
Securities classified as available-for-sale are reported at fair value on a recurring basis utilizing Level 1, 2 and 3 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. | |||||||||||||||||
The Company does not record all loans & leases at fair value on a recurring basis. However, from time to time, a loan or lease is considered impaired and an allowance for credit losses is established. Once a loan or lease is identified as individually impaired, management measures impairment in accordance with the “Receivable” topic of the FASB ASC. The fair value of impaired loans or leases is estimated using one of several methods, including collateral value when the loan is collateral dependent, market value of similar debt, enterprise value, and discounted cash flows. Impaired loans & leases not requiring an allowance represent loans & leases for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans & leases. Impaired loans & leases where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. The fair value of collateral dependent impaired loans is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including sales comparison, cost and the income approach. Adjustments are often made in the appraisal process by the appraisers to take in to account differences between the comparable sales and income and other available data. Such adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. The valuation technique used for Level 3 nonrecurring impaired loans is primarily the sales comparison approach less selling costs of 10%. | |||||||||||||||||
Other Real Estate (“ORE”) is reported at fair value on a non-recurring basis. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including sales comparison, cost and the income approach. Adjustments are often made in the appraisal process by the appraisers to take in to account differences between the comparable sales and income and other available data. Such adjustments can be significant and typically result in a Level 3 classification of the inputs for determining fair value. The valuation technique used for Level 3 nonrecurring OREO is primarily the sales comparison approach less selling costs of 10%. | |||||||||||||||||
The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,436 | $ | 23,394 | $ | 5,042 | $ | - | |||||||||
Mortgage Backed Securities | 324,929 | - | 324,929 | - | |||||||||||||
Corporate Securities | 49,380 | 8,191 | 41,189 | - | |||||||||||||
Other | 1,894 | 1,584 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 404,639 | $ | 33,169 | $ | 371,470 | $ | - | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2012, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 26,823 | $ | 21,731 | $ | 5,092 | $ | - | |||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | |||||||||||||
Mortgage Backed Securities | 352,772 | - | 352,772 | - | |||||||||||||
Corporate Securities | 22,558 | 4,020 | 18,538 | - | |||||||||||||
Other | 10,173 | 9,863 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 417,991 | $ | 35,614 | $ | 376,712 | $ | 5,665 | |||||||||
Fair values for Level 2 available-for-sale investment securities are based on quoted market prices for similar securities. During the year ended December 31, 2013, $5.6 million were transferred out of level 3 available-for-sale investment securities into held-to-maturity investment securities. During the year ended December 31, 2012, there were no transfers out of level 2 to level 3. The following table presents information about the activity of level 3 assets. | |||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||
Balance at Beginning of Period | $ | 5,665 | $ | 5,782 | |||||||||||||
Total Realized and Unrealized Gains/(Losses) Included in Income | - | - | |||||||||||||||
Total Unrealized Gains/(Losses) Included in Other Comprehensive Income | - | - | |||||||||||||||
Purchase of Securities | - | - | |||||||||||||||
Sales, Maturities, and Calls of Securities | (84 | ) | (117 | ) | |||||||||||||
Net Transfers out of Available for Sale Securities | (5,581 | ) | - | ||||||||||||||
Balance at End of Period | $ | - | $ | 5,665 | |||||||||||||
Available for sale investments securities categorized as Level 3 assets primarily consist of obligations of states and political subdivisions. These bonds were issued by local housing authorities and have no active market. These bonds are carried at historical cost, which approximates fair value, unless economic conditions for the municipality changes to a degree requiring a valuation adjustment. | |||||||||||||||||
The following tables present information about the Company’s other real estate and impaired loans & leases, classes of assets or liabilities that the Company carries at fair value on a non-recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. Not all impaired loans & leases are carried at fair value. Impaired loans & leases are only included in the following tables when their fair value is based upon an appraisal of the collateral, and if that appraisal results in a partial charge-off or the establishment of a specific reserve. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 614 | $ | - | $ | - | $ | 614 | |||||||||
Home Equity Lines and Loans | 551 | - | - | 551 | |||||||||||||
Agricultural | 366 | - | - | 366 | |||||||||||||
Commercial | 820 | - | - | 820 | |||||||||||||
Total Impaired Loans | 2,351 | - | - | 2,351 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,399 | - | - | 2,399 | |||||||||||||
Agricultural Real Estate | 2,212 | - | - | 2,212 | |||||||||||||
Total Other Real Estate | 4,611 | - | - | 4,611 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 6,962 | $ | - | $ | - | $ | 6,962 | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2012, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 235 | $ | - | $ | - | $ | 235 | |||||||||
Home Equity Lines and Loans | 462 | - | - | 462 | |||||||||||||
Agricultural | 1,010 | - | - | 1,010 | |||||||||||||
Total Impaired Loans | 1,707 | - | - | 1,707 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,553 | - | - | 2,553 | |||||||||||||
Total Other Real Estate | 2,553 | - | - | 2,553 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 4,260 | $ | - | $ | - | $ | 4,260 | |||||||||
The Company’s property appraisals are primarily based on the sales comparison approach and the income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property. | |||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2013: | |||||||||||||||||
(in thousands) | Fair Value | Valuation Technique | Unobservable Inputs | Range, Weighted Avg. | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 614 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -35%, 22 | % | |||||||||||
Home Equity Lines and Loans | $ | 551 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 2% - 34%, 11 | % | |||||||||||
Agricultural | $ | 366 | Income Approach | Capitalization Rate | 14% - 14%, 14 | % | |||||||||||
Commercial | $ | 820 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 15% - 15%, 15 | % | |||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | $ | 2,399 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % | |||||||||||
Agricultural Real Estate | $ | 2,212 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
18. Fair Value of Financial Instruments | |||||||||||||||||||||
U.S. GAAP requires disclosure of fair value information about financial instruments, whether or not recognized on the balance sheet, for which it is practical to estimate that value. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. The use of assumptions and various valuation techniques, as well as the absence of secondary markets for certain financial instruments, will likely reduce the comparability of fair value disclosures between financial institutions. In some cases, book value is a reasonable estimate of fair value due to the relatively short period of time between origination of the instrument and its expected realization. | |||||||||||||||||||||
The following tables summarize the book value and estimated fair value of financial instruments for the periods indicated: | |||||||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
31-Dec-13 | Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | Total Estimated Fair Value | ||||||||||||||||
(in thousands) | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 83,677 | $ | 83,677 | $ | - | $ | - | $ | 83,677 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 28,436 | 23,394 | 5,042 | - | 28,436 | ||||||||||||||||
Mortgage Backed Securities | 324,929 | - | 324,929 | - | 324,929 | ||||||||||||||||
Corporate Securities | 49,380 | 8,191 | 41,189 | - | 49,380 | ||||||||||||||||
Other | 1,894 | 1,584 | 310 | - | 1,894 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 404,639 | 33,169 | 371,470 | - | 404,639 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 65,685 | - | 51,563 | 14,307 | 65,870 | ||||||||||||||||
Mortgage Backed Securities | 45 | - | 45 | - | 45 | ||||||||||||||||
Other | 2,775 | - | 2,775 | - | 2,775 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 68,505 | - | 54,383 | 14,307 | 68,690 | ||||||||||||||||
FHLB Stock | 7,187 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 402,336 | - | - | 403,790 | 403,790 | ||||||||||||||||
Agricultural Real Estate | 324,688 | - | - | 328,704 | 328,704 | ||||||||||||||||
Real Estate Construction | 40,438 | - | - | 40,800 | 40,800 | ||||||||||||||||
Residential 1st Mortgages | 150,184 | - | - | 153,352 | 153,352 | ||||||||||||||||
Home Equity Lines and Loans | 32,710 | - | - | 35,250 | 35,250 | ||||||||||||||||
Agricultural | 244,209 | - | - | 242,950 | 242,950 | ||||||||||||||||
Commercial | 144,701 | - | - | 145,131 | 145,131 | ||||||||||||||||
Consumer & Other | 4,876 | - | - | 4,912 | 4,912 | ||||||||||||||||
Leases | 12,094 | - | - | 11,851 | 11,851 | ||||||||||||||||
Unallocated Allowance | (2,274 | ) | - | - | (2,274 | ) | (2,274 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,353,962 | - | - | 1,364,466 | 1,364,466 | ||||||||||||||||
Accrued Interest Receivable | 6,941 | - | 6,941 | - | 6,941 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 495,963 | 495,963 | - | - | 495,963 | ||||||||||||||||
Interest Bearing Transaction | 291,795 | 291,795 | - | - | 291,795 | ||||||||||||||||
Savings and Money Market | 589,511 | 589,511 | - | - | 589,511 | ||||||||||||||||
Time | 430,422 | - | 430,752 | - | 430,752 | ||||||||||||||||
Total Deposits | 1,807,691 | 1,377,269 | 430,752 | - | 1,808,021 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 6,224 | - | 6,224 | ||||||||||||||||
Accrued Interest Payable | 352 | - | 352 | - | 352 | ||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
31-Dec-12 | Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | Total Estimated Fair Value | ||||||||||||||||
(in thousands) | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 129,426 | $ | 129,426 | $ | - | $ | - | $ | 129,426 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 26,823 | 21,731 | 5,092 | - | 26,823 | ||||||||||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | 5,665 | ||||||||||||||||
Mortgage Backed Securities | 352,772 | - | 352,772 | - | 352,772 | ||||||||||||||||
Corporate Securities | 22,558 | 4,020 | 18,538 | - | 22,558 | ||||||||||||||||
Other | 10,173 | 9,863 | 310 | - | 10,173 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 417,991 | 35,614 | 376,712 | 5,665 | 417,991 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 65,694 | - | 60,177 | 7,810 | 67,987 | ||||||||||||||||
Mortgage Backed Securities | 484 | - | 496 | - | 496 | ||||||||||||||||
Other | 2,214 | - | 2,214 | - | 2,214 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 68,392 | - | 62,887 | 7,810 | 70,697 | ||||||||||||||||
FHLB Stock | 7,368 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans, Net of Deferred Loan Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 344,084 | - | - | 349,524 | 349,524 | ||||||||||||||||
Agricultural Real Estate | 309,115 | - | - | 316,302 | 316,302 | ||||||||||||||||
Real Estate Construction | 31,694 | - | - | 32,024 | 32,024 | ||||||||||||||||
Residential 1st Mortgages | 139,038 | - | - | 144,203 | 144,203 | ||||||||||||||||
Home Equity Lines and Loans | 38,807 | - | - | 41,419 | 41,419 | ||||||||||||||||
Agricultural | 210,595 | - | - | 209,578 | 209,578 | ||||||||||||||||
Commercial | 135,330 | - | - | 134,647 | 134,647 | ||||||||||||||||
Consumer & Other | 4,876 | - | - | 4,847 | 4,847 | ||||||||||||||||
Unallocated Allowance | (854 | ) | - | - | (854 | ) | (854 | ) | |||||||||||||
Total Loans, Net of Deferred Loan Fees & Allowance | 1,212,685 | - | - | 1,231,690 | 1,231,690 | ||||||||||||||||
Accrued Interest Receivable | 6,389 | - | - | 6,389 | 6,389 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 462,251 | 462,251 | - | - | 462,251 | ||||||||||||||||
Interest Bearing Transaction | 259,141 | 259,141 | - | - | 259,141 | ||||||||||||||||
Savings and Money Market | 541,526 | 541,526 | - | - | 541,526 | ||||||||||||||||
Time | 459,108 | - | 459,993 | - | 459,993 | ||||||||||||||||
Total Deposits | 1,722,026 | 1,262,918 | 459,993 | - | 1,722,911 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 5,750 | - | 5,750 | ||||||||||||||||
Accrued Interest Payable | 498 | - | 498 | - | 498 | ||||||||||||||||
Fair value estimates presented herein are based on pertinent information available to management as of December 31, 2013 and December 31, 2012. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purpose of these financial statements since that date, and; therefore, current estimates of fair value may differ significantly from the amounts presented above. The methods and assumptions used to estimate the fair value of each class of financial instrument listed in the table above are explained below. | |||||||||||||||||||||
Cash and Cash Equivalents - The carrying amounts reported in the balance sheet for cash and due from banks, interest-bearing deposits with banks, federal funds sold, and securities purchased under agreements to resell are a reasonable estimate of fair value. All cash and cash equivalents are classified as Level 1. | |||||||||||||||||||||
Investment Securities - Fair values for investment securities consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. Based on the available market information the classification level could be 1, 2, or 3. | |||||||||||||||||||||
Federal Home Loan Bank Stock - It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||||||
Loans & Leases, Net of Deferred Loan & Lease Fees & Allowance - Fair values of loans & leases are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans & leases are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans & leases are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans & leases do not necessarily represent an exit price. | |||||||||||||||||||||
Deposit Liabilities - The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. Fair values for fixed-maturity certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||||||
Subordinated Debentures - The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | |||||||||||||||||||||
Accrued Interest Receivable and Payable - The carrying amount of accrued interest receivable and payable approximates their fair value resulting in a Level 2 classification. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
19. Commitments and Contingencies | |||||||||
In the normal course of business, the Company enters in to financial instruments with off balance sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These instruments include commitments to extend credit, letters of credit, and other types of financial guarantees. The Company had the following off balance sheet commitments as of the dates indicated. | |||||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||||
Commitments to Extend Credit | $ | 445,294 | $ | 334,772 | |||||
Letters of Credit | 7,393 | 5,281 | |||||||
Performance Guarantees Under Interest Rate Swap Contracts Entered Into Between Our Borrowing Customers and Third Parties | - | 1,796 | |||||||
The Company's exposure to credit loss in the event of nonperformance by the other party with regard to standby letters of credit, undisbursed loan commitments, and financial guarantees is represented by the contractual notional amount of those instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. The Company uses the same credit policies in making commitments and conditional obligations as it does for recorded balance sheet items. The Company may or may not require collateral or other security to support financial instruments with credit risk. Evaluations of each customer's creditworthiness are performed on a case-by-case basis. | |||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee performance of or payment for a customer to a third party. Outstanding standby letters of credit have maturity dates ranging from 1 to 58 months with final expiration in October 2018. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. | |||||||||
The Company is obligated under a number of noncancellable operating leases for premises and equipment used for banking purposes. Minimum future rental commitments under noncancellable operating leases as of December 31, 2013, were $341,000, $344,000, $187,000, $87,000, and $77,000 for the years 2014 through 2018. | |||||||||
In the ordinary course of business, the Company becomes involved in litigation arising out of its normal business activities. Management, after consultation with legal counsel, believes that the ultimate liability, if any, resulting from the disposition of such claims would not be material in relation to the financial position of the Company. | |||||||||
The Company may be required to maintain average reserves on deposit with the Federal Reserve Bank primarily based on deposits outstanding. There were no reserve requirements during 2013 or 2012. |
Recent_Accounting_Developments
Recent Accounting Developments | 12 Months Ended |
Dec. 31, 2013 | |
Recent Accounting Developments [Abstract] | ' |
Recent Accounting Developments | ' |
20. Recent Accounting Developments | |
In February 2013, the FASB issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220)—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The objective of this Update is to improve the reporting of reclassifications out of accumulated other comprehensive income. The amendments in this Update seek to attain that objective by requiring an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. generally accepted accounting principles (GAAP) to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. The new guidance is effective for reporting periods beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the Company’s financial position, results of operation, cash flows, or disclosure. |
Parent_Company_Financial_Infor
Parent Company Financial Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Parent Company Financial Information [Abstract] | ' | ||||||||||||
Parent Company Financial Information | ' | ||||||||||||
21. Parent Company Financial Information | |||||||||||||
The following financial information is presented as of December 31 for the periods indicated. | |||||||||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Balance Sheets | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Cash | $ | 416 | $ | 212 | |||||||||
Investment in Farmers & Merchants Bank of Central California | 219,640 | 214,755 | |||||||||||
Investment Securities | 410 | 410 | |||||||||||
Other Assets | 87 | 267 | |||||||||||
Total Assets | $ | 220,553 | $ | 215,644 | |||||||||
Subordinated Debentures | $ | 10,310 | $ | 10,310 | |||||||||
Liabilities | 339 | 301 | |||||||||||
Shareholders' Equity | 209,904 | 205,033 | |||||||||||
Total Liabilities and Shareholders' Equity | $ | 220,553 | $ | 215,644 | |||||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Statements of Income | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Equity in Undistributed Earnings in Farmers & Merchants Bank of Central California | $ | 14,352 | $ | 13,247 | $ | 12,715 | |||||||
Dividends from Subsidiary | 10,450 | 10,900 | 10,325 | ||||||||||
Interest Income | 10 | 10 | 10 | ||||||||||
Other Expenses, Net | (1,288 | ) | (1,386 | ) | (1,443 | ) | |||||||
Tax Benefit | 537 | 578 | 602 | ||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Statements of Cash Flows | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows from Operating Activities: | |||||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||||||||||||
Equity in Undistributed Net Earnings from Subsidiary | (14,352 | ) | (13,247 | ) | (12,715 | ) | |||||||
Net Decrease (Increase) in Other Assets | 38 | (216 | ) | (3 | ) | ||||||||
Net Increase (Decrease) in Liabilities | 180 | (78 | ) | 56 | |||||||||
Net Cash Provided by Operating Activities | 9,927 | 9,808 | 9,547 | ||||||||||
Investing Activities: | |||||||||||||
Securities Purchased | - | - | (1,296 | ) | |||||||||
Securities Sold or Matured | - | - | 1,196 | ||||||||||
Net Cash Used by Investing Activities | - | - | (100 | ) | |||||||||
Financing Activities: | |||||||||||||
Stock Repurchased | - | (576 | ) | - | |||||||||
Cash Dividends | (9,723 | ) | (9,418 | ) | (9,158 | ) | |||||||
Net Cash Used by Financing Activities | (9,723 | ) | (9,994 | ) | (9,158 | ) | |||||||
Increase (Decrease) in Cash and Cash Equivalents | 204 | (186 | ) | 289 | |||||||||
Cash and Cash Equivalents at Beginning of Year | 212 | 398 | 109 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 416 | $ | 212 | $ | 398 |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Significant Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying consolidated financial statements and notes thereto have been prepared in accordance with accounting principles generally accepted in the United States of America for financial information. | |
The accompanying consolidated financial statements include the accounts of the Company and the Company’s wholly owned subsidiaries, F & M Bancorp, Inc. and the Bank, along with the Bank’s wholly owned subsidiaries, Farmers & Merchants Investment Corporation and Farmers/Merchants Corp. Significant inter-company transactions have been eliminated in consolidation. | |
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | |
Certain amounts in the prior years' financial statements and related footnote disclosures have been reclassified to conform to the current-year presentation. These reclassifications had no effect on previously reported net income or total shareholders’ equity. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair presentation of financial results for the periods presented. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
For purposes of the Consolidated Statements of Cash Flows, the Company has defined cash and cash equivalents as those amounts included in the balance sheet captions Cash and Due from Banks, Interest-bearing Deposits with Banks, Federal Funds Sold and Securities Purchased Under Agreements to Resell. Generally, these transactions are for one-day periods. For these instruments, the carrying amount is a reasonable estimate of fair value. | |
Investment Securities | ' |
Investment Securities | |
Investment securities are classified at the time of purchase as held-to-maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These securities are carried at cost, adjusted for amortization of premium and accretion of discount using a level yield of interest over the estimated remaining period until maturity. Losses, reflecting a decline in value judged by the Company to be other than temporary, are recognized in the period in which they occur. | |
Securities are classified as available-for-sale if it is management’s intent, at the time of purchase, to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. These securities are reported at fair value with aggregate unrealized gains or losses excluded from income and included as a separate component of shareholders’ equity, net of related income taxes. Fair values are based on quoted market prices or broker/dealer price quotations on a specific identification basis. Gains or losses on the sale of these securities are computed using the specific identification method. | |
Trading securities, if any, are acquired for short-term appreciation and are recorded in a trading portfolio and are carried at fair value, with unrealized gains and losses recorded in non-interest income. | |
Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: (1) OTTI related to credit loss, which must be recognized in the income statement; and (2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | |
In order to determine OTTI for purchased beneficial interests that, on the purchase date, were not highly rated, the Company compares the present value of the remaining cash flows as estimated at the preceding evaluation date to the current expected remaining cash flows. OTTI is deemed to have occurred if there has been an adverse change in the remaining expected future cash flows. | |
Loans & Leases | ' |
Loans & Leases | |
Loans & leases are reported at the principal amount outstanding net of unearned discounts and deferred loan & lease fees and costs. Interest income on loans & leases is accrued daily on the outstanding balances using the simple interest method. Loan & lease origination fees are deferred and recognized over the contractual life of the loan or lease as an adjustment to the yield. Loans & leases are placed on non-accrual status when the collection of principal or interest is in doubt or when they become past due for 90 days or more unless they are both well-secured and in the process of collection. For this purpose a loan or lease is considered well secured if it is collateralized by property having a net realizable value in excess of the amount of the loan or lease or is guaranteed by a financially capable party. When a loan or lease is placed on non-accrual status, the accrued and unpaid interest receivable is reversed and charged against current income; thereafter, interest income is recognized only as it is collected in cash. Additionally, cash would be applied to principal if all principal was not expected to be collected. Loans & leases placed on non-accrual status are returned to accrual status when the loans or leases are paid current as to principal and interest and future payments are expected to be made in accordance with the contractual terms of the loan or lease. | |
A loan or lease is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the original agreement. Loans & leases determined to be impaired are individually evaluated for impairment. When a loan or lease is impaired, the Company measures impairment based on the present value of expected future cash flows discounted at the loan or lease's effective interest rate, except that as a practical expedient, it may measure impairment based on a loan or lease's observable market price, or the fair value of the collateral if the loan or lease is collateral dependent. A loan or lease is collateral dependent if the repayment of the loan or lease is expected to be provided solely by the underlying collateral. | |
A restructuring of a loan or lease constitutes a troubled debt restructuring (“TDR”) under ASC 310-40, if the Company for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. Restructured loans or leases typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. If the restructured loan or lease was current on all payments at the time of restructure and management reasonably expects the borrower will continue to perform after the restructure, management may keep the loan or lease on accrual. Loans & leases that are on nonaccrual status at the time they become TDR loans, remain on nonaccrual status until the borrower demonstrates a sustained period of performance, which the Company generally believes to be six consecutive months of payments, or equivalent. A loan or lease can be removed from TDR status if it was restructured at a market rate in a prior calendar year and is currently in compliance with its modified terms. However, these loans or leases continue to be classified as impaired and are individually evaluated for impairment. | |
Allowance for Credit Losses | ' |
Allowance for Credit Losses | |
The allowance for credit losses is an estimate of probable incurred credit losses inherent in the Company's loan & lease portfolio as of the balance-sheet date. The allowance is established through a provision for credit losses, which is charged to expense. Additions to the allowance are expected to maintain the adequacy of the total allowance after credit losses and loan & lease growth. Credit exposures determined to be uncollectible are charged against the allowance. Cash received on previously charged off amounts is recorded as a recovery to the allowance. The overall allowance consists of two primary components, specific reserves related to impaired loans & leases and general reserves for inherent losses related to loans & leases that are not impaired. | |
The determination of the general reserve for loans & leases that are collectively evaluated for impairment is based on estimates made by management, to include, but not limited to, consideration of historical losses by portfolio segment, internal asset classifications, qualitative factors to include economic trends in the Company's service areas, industry experience and trends, geographic concentrations, estimated collateral values, the Company's underwriting policies, the character of the loan & lease portfolio, and probable losses inherent in the portfolio taken as a whole. | |
An unallocated allowance often occurs due to the imprecision in estimating and allocating allowance balances associated with macro factors such as: (1) the continuing sluggish economic conditions in the Central Valley; and (2) the long term impact of drought conditions currently being experienced in California. | |
The Company maintains a separate allowance for each portfolio segment (loan & lease type). These portfolio segments include: (1) commercial real estate; (2) agricultural real estate; (3) real estate construction (including land and development loans); (4) residential 1st mortgages; (5) home equity lines and loans; (6) agricultural; (7) commercial; (8) consumer and other; and (9) leases. The allowance for credit losses attributable to each portfolio segment, which includes both individually evaluated impaired loans & leases and loans & leases that are collectively evaluated for impairment, is combined to determine the Company's overall allowance, which is included on the consolidated balance sheet. | |
The Company assigns a risk rating to all loans & leases and periodically performs detailed reviews of all such loans & leases over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. A credit grade is established at inception for smaller balance loans, such as consumer and residential real estate, and then updated only when the loan becomes contractually delinquent or when the borrower requests a modification. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which borrowers operate and the fair values of collateral securing these loans & leases. These credit quality indicators are used to assign a risk rating to each individual loan or lease. These risk ratings are also subject to examination by independent specialists engaged by the Company. The risk ratings can be grouped into five major categories, defined as follows: | |
Pass – A pass loan or lease is a strong credit with no existing or known potential weaknesses deserving of management's close attention. | |
Special Mention – A special mention loan or lease has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease or in the Company's credit position at some future date. Special Mention loans & leases are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. | |
Substandard – A substandard loan or lease is not adequately protected by the current financial condition and paying capacity of the borrower or the value of the collateral pledged, if any. Loans or leases classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Well-defined weaknesses include a project's lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time or the project's failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |
Doubtful – Loans or leases classified doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, based on currently known facts, conditions and values, highly questionable or improbable. | |
Loss – Loans or leases classified as loss are considered uncollectible. Once a loan or lease becomes delinquent and repayment becomes questionable, the Company will address collateral shortfalls with the borrower and attempt to obtain additional collateral. If this is not forthcoming and payment in full is unlikely, the Company will estimate its probable loss and immediately charge-off some or all of the balance. | |
The general reserve component of the allowance for credit losses also consists of reserve factors that are based on management's assessment of the following for each portfolio segment: (1) inherent credit risk; (2) historical losses; and (3) other qualitative factors. These reserve factors are inherently subjective and are driven by the repayment risk associated with each portfolio segment described below: | |
Real Estate Construction – Real Estate Construction loans, including land loans, generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified cost and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. | |
Commercial Real Estate – Commercial real estate mortgage loans generally possess a higher inherent risk of loss than other real estate portfolio segments, except land and construction loans. Adverse economic developments or an overbuilt market impact commercial real estate projects and may result in troubled loans. Trends in vacancy rates of commercial properties impact the credit quality of these loans. High vacancy rates reduce operating revenues and the ability for properties to produce sufficient cash flow to service debt obligations. | |
Commercial – Commercial loans generally possess a lower inherent risk of loss than real estate portfolio segments because these loans are generally underwritten to existing cash flows of operating businesses. Debt coverage is provided by business cash flows and economic trends influenced by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. | |
Agricultural Real Estate and Agricultural – Loans secured by crop production, livestock and related real estate are vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |
Residential 1st Mortgages and Home Equity Lines and Loans – The degree of risk in residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate and the borrower's ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments, although this is not always true as evidenced by the weakness in residential real estate values over the past five years. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers' capacity to repay their obligations may be deteriorating. | |
Consumer & Other – A consumer installment loan portfolio is usually comprised of a large number of small loans scheduled to be amortized over a specific period. Most installment loans are made for consumer purchases. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers' capacity to repay their obligations may be deteriorating. | |
Leases – Equipment leases subject the Company, as lessor, to both the credit risk of the lessee and the residual value risk of the equipment. Credit risks are underwritten using the same credit criteria the Company would use when making an equipment term loan. Residual value risk is managed through the use of qualified, independent appraisers that establish the residual values the Company uses in structuring a lease. | |
At least quarterly, the Board of Directors reviews the adequacy of the allowance, including consideration of the relative risks in the portfolio, current economic conditions and other factors. If the Board of Directors and management determine that changes are warranted based on those reviews, the allowance is adjusted. In addition, the Company's and Bank's regulators, including the FRB, DBO and FDIC, as an integral part of their examination process, review the adequacy of the allowance. These regulatory agencies may require additions to the allowance based on their judgment about information available at the time of their examinations. | |
Allowance for Credit Losses on Off-Balance-Sheet Credit Exposures | ' |
Allowance for Credit Losses on Off-Balance-Sheet Credit Exposures | |
The Company also maintains a separate allowance for off-balance-sheet commitments. Management estimates anticipated losses using historical data and utilization assumptions. The allowance for off-balance-sheet commitments is included in Interest Payable and Other Liabilities on the Company’s Consolidated Balance Sheet. | |
Premises and Equipment | ' |
Premises and Equipment | |
Premises, equipment, and leasehold improvements are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. Estimated useful lives of buildings range from 30 to 40 years, and for furniture and equipment from 3 to 7 years. Leasehold improvements are amortized over the lesser of the terms of the respective leases, or their useful lives, which are generally 5 to 10 years. Remodeling and capital improvements are capitalized while maintenance and repairs are charged directly to occupancy expense. | |
Other Real Estate | ' |
Other Real Estate | |
Other real estate, which is included in other assets, is expected to be sold and is comprised of properties no longer utilized for business operations and property acquired through foreclosure in satisfaction of indebtedness. These properties are recorded at fair value less estimated selling costs upon acquisition. Revised estimates to the fair value less cost to sell are reported as adjustments to the carrying amount of the asset, provided that such adjusted value is not in excess of the carrying amount at acquisition. Initial losses on properties acquired through full or partial satisfaction of debt are treated as credit losses and charged to the allowance for credit losses at the time of acquisition. Subsequent declines in value from the recorded amounts, routine holding costs, and gains or losses upon disposition, if any, are included in non-interest expense as incurred. | |
Income Taxes | ' |
Income Taxes | |
The Company uses the liability method of accounting for income taxes. This method results in the recognition of deferred tax assets and liabilities that are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. The deferred provision for income taxes is the result of the net change in the deferred tax asset and deferred tax liability balances during the year. This amount, combined with the current taxes payable or refundable, results in the income tax expense for the current year. | |
The Company follows the standards set forth in the “Income Taxes” topic of the FASB ASC, which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. This standard prescribes a recognition threshold and measurement standard for the financial statement recognition and measurement of an income tax position taken or expected to be taken in a tax return. It also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. | |
When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. | |
Interest expense and penalties associated with unrecognized tax benefits, if any, are included in the provision for income taxes in the Consolidated Statements of Income. | |
Dividends and Basic Earnings Per Common Share | ' |
Dividends and Basic Earnings Per Common Share | |
The Company’s common stock is not traded on any exchange. The shares are primarily held by local residents and are not actively traded. Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. There are no common stock equivalent shares therefore there is no presentation of diluted earnings per common share. See Note 15 for additional information. | |
Segment Reporting | ' |
Segment Reporting | |
The “Segment Reporting” topic of the FASB ASC requires that public companies report certain information about operating segments. It also requires that public companies report certain information about their products and services, the geographic areas in which they operate, and their major customers. The Company is a holding company for a community bank, which offers a wide array of products and services to its customers. Pursuant to its banking strategy, emphasis is placed on building relationships with its customers, as opposed to building specific lines of business. As a result, the Company is not organized around discernible lines of business and prefers to work as an integrated unit to customize solutions for its customers, with business line emphasis and product offerings changing over time as needs and demands change. Therefore, the Company only reports one segment. | |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities | |
The “Derivatives and Hedging” topic of the FASB ASC establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. All derivatives, whether designated in hedging relationships or not, are required to be recorded on the consolidated balance sheet at fair value. Changes in the fair value of those derivatives are accounted for depending on the intended use of the derivative and the resulting designation under specified criteria. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, designed to minimize interest rate risk, the effective portions of the change in the fair value of the derivative are recorded in other comprehensive income (loss), net of related income taxes. Ineffective portions of changes in the fair value of cash flow hedges are recognized in earnings. | |
From time to time, the Company utilizes derivative financial instruments such as interest rate caps, floors, swaps, and collars. These instruments are purchased and/or sold to reduce the Company’s exposure to changing interest rates. The Company marks to market the value of its derivative financial instruments and reflects gain or loss in earnings in the period of change or in other comprehensive income (loss). The Company was not utilizing any derivative instruments as of or for the years ended December 31, 2013, 2012 and 2011. | |
Comprehensive Income | ' |
Comprehensive Income | |
The “Comprehensive Income” topic of the FASB ASC establishes standards for the reporting and display of comprehensive income and its components in the financial statements. Other comprehensive income (loss) refers to revenues, expenses, gains, and losses that U.S. generally accepted accounting principles recognize as changes in value to an enterprise but are excluded from net income. For the Company, comprehensive income includes net income and changes in fair value of its available-for-sale investment securities. | |
Loss Contingencies | ' |
Loss Contingencies | |
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are currently any such matters that would have a material effect on the consolidated financial statements. |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale | ' | ||||||||||||||||||||||||
The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows: | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Fair/Book | |||||||||||||||||||||||
31-Dec-13 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,287 | $ | 149 | $ | - | $ | 28,436 | |||||||||||||||||
Mortgage Backed Securities (1) | 329,469 | 3,026 | 7,566 | 324,929 | |||||||||||||||||||||
Corporate Securities | 49,247 | 280 | 147 | 49,380 | |||||||||||||||||||||
Other | 1,894 | - | - | 1,894 | |||||||||||||||||||||
Total | $ | 408,897 | $ | 3,455 | $ | 7,713 | $ | 404,639 | |||||||||||||||||
Amortized | Gross Unrealized | Fair/Book | |||||||||||||||||||||||
31-Dec-12 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 26,546 | $ | 277 | $ | - | $ | 26,823 | |||||||||||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | |||||||||||||||||||||
Mortgage Backed Securities (1) | 341,212 | 11,570 | 10 | 352,772 | |||||||||||||||||||||
Corporate Securities | 22,318 | 252 | 12 | 22,558 | |||||||||||||||||||||
Other | 10,173 | - | - | 10,173 | |||||||||||||||||||||
Total | $ | 405,914 | $ | 12,099 | $ | 22 | $ | 417,991 | |||||||||||||||||
(1) All Mortgage Backed Securities were issued by an agency or government sponsored entity of the U.S. government. | |||||||||||||||||||||||||
Book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity | ' | ||||||||||||||||||||||||
The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows: (in thousands) | |||||||||||||||||||||||||
Book | Gross Unrealized | Fair | |||||||||||||||||||||||
31-Dec-13 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 65,685 | $ | 812 | $ | 627 | $ | 65,870 | |||||||||||||||||
Mortgage Backed Securities (1) | 45 | - | - | 45 | |||||||||||||||||||||
Other | 2,775 | - | - | 2,775 | |||||||||||||||||||||
Total | $ | 68,505 | $ | 812 | $ | 627 | $ | 68,690 | |||||||||||||||||
Book | Gross Unrealized | Fair | |||||||||||||||||||||||
31-Dec-12 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 65,694 | $ | 2,296 | $ | 3 | $ | 67,987 | |||||||||||||||||
Mortgage Backed Securities (1) | 484 | 12 | - | 496 | |||||||||||||||||||||
Other | 2,214 | - | - | 2,214 | |||||||||||||||||||||
Total | $ | 68,392 | $ | 2,308 | $ | 3 | $ | 70,697 | |||||||||||||||||
(1) All Mortgage Backed Securities were issued by an agency or government sponsored entity of the U.S. government. | |||||||||||||||||||||||||
Amortized cost and estimated fair values of investment securities by contractual maturity | ' | ||||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities at December 31, 2013 by contractual maturity are shown in the following tables. (in thousands) | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Fair/Book | Book | Fair | ||||||||||||||||||||||
31-Dec-13 | Cost | Value | Value | Value | |||||||||||||||||||||
Within One Year | $ | 20,191 | $ | 20,229 | $ | 2,449 | $ | 2,467 | |||||||||||||||||
After One Year Through Five Years | 55,970 | 56,132 | 18,866 | 19,286 | |||||||||||||||||||||
After Five Years Through Ten Years | 3,267 | 3,349 | 26,891 | 27,266 | |||||||||||||||||||||
After Ten Years | - | - | 20,254 | 19,626 | |||||||||||||||||||||
79,428 | 79,710 | 68,460 | 68,645 | ||||||||||||||||||||||
Investment Securities Not Due at a Single Maturity Date: | |||||||||||||||||||||||||
Mortgage Backed Securities | 329,469 | 324,929 | 45 | 45 | |||||||||||||||||||||
Total | $ | 408,897 | $ | 404,639 | $ | 68,505 | $ | 68,690 | |||||||||||||||||
Investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position | ' | ||||||||||||||||||||||||
The following tables show those investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at the dates indicated. (in thousands) | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
31-Dec-13 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 195,736 | $ | 7,566 | $ | - | $ | - | $ | 195,736 | $ | 7,566 | |||||||||||||
Corporate Securities | 15,297 | 106 | 2,457 | 41 | 17,754 | 147 | |||||||||||||||||||
Total | $ | 211,033 | $ | 7,672 | $ | 2,457 | $ | 41 | $ | 213,490 | $ | 7,713 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 9,518 | $ | 627 | $ | - | $ | - | $ | 9,518 | $ | 627 | |||||||||||||
Total | $ | 9,518 | $ | 627 | $ | - | $ | - | $ | 9,518 | $ | 627 | |||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
31-Dec-12 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 4,542 | $ | 10 | $ | - | $ | - | $ | 4,542 | $ | 10 | |||||||||||||
Corporate Securities | 3,442 | 12 | - | - | 3,442 | 12 | |||||||||||||||||||
Total | $ | 7,984 | $ | 22 | $ | - | $ | - | $ | 7,984 | $ | 22 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 528 | $ | 3 | $ | - | $ | - | $ | 528 | $ | 3 | |||||||||||||
Total | $ | 528 | $ | 3 | $ | - | $ | - | $ | 528 | $ | 3 | |||||||||||||
Proceeds from sales of securities available-for-sale | ' | ||||||||||||||||||||||||
Proceeds from sales and calls of securities available-for-sale were as follows: | |||||||||||||||||||||||||
(in thousands) | Gross | Gross | Gross | ||||||||||||||||||||||
Proceeds | Gains | Losses | |||||||||||||||||||||||
2013 | $ | 81,390 | $ | 1,208 | $ | 1,437 | |||||||||||||||||||
2012 | 55,986 | 158 | - | ||||||||||||||||||||||
2011 | 201,135 | 95 | - |
Loans_Leases_Tables
Loans & Leases (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Loans & Leases [Abstract] | ' | ||||||||
Schedule of loans and leases | ' | ||||||||
Loans & leases as of December 31 consisted of the following: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Commercial Real Estate | $ | 411,037 | $ | 353,109 | |||||
Agricultural Real Estate | 328,264 | 311,992 | |||||||
Real Estate Construction | 41,092 | 32,680 | |||||||
Residential 1st Mortgages | 151,292 | 140,257 | |||||||
Home Equity Lines and Loans | 35,477 | 42,042 | |||||||
Agricultural | 256,414 | 221,032 | |||||||
Commercial | 150,398 | 143,293 | |||||||
Consumer & Other | 5,052 | 5,058 | |||||||
Leases | 12,733 | - | |||||||
Total Gross Loans & Leases | 1,391,759 | 1,249,463 | |||||||
Less: Unearned Income | 3,523 | 2,561 | |||||||
Subtotal | 1,388,236 | 1,246,902 | |||||||
Less: Allowance for Credit Losses | 34,274 | 34,217 | |||||||
Loans & Leases, Net | $ | 1,353,962 | $ | 1,212,685 |
Allowance_for_Credit_Losses_Ta
Allowance for Credit Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Allocation of the allowance for credit losses by portfolio segment and by impairment methodology | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show the allocation of the allowance for credit losses at December 31, 2013 and December 31, 2012 by portfolio segment and by impairment methodology (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Commercial Real Estate | Agricultural Real Estate | Real Estate Construction | Residential 1st Mortgages | Home Equity Lines & Loans | Agricultural | Commercial | Consumer & Other | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2013 | $ | 6,464 | $ | 2,877 | $ | 986 | $ | 1,219 | $ | 3,235 | $ | 10,437 | $ | 7,963 | $ | 182 | $ | - | $ | 854 | $ | 34,217 | |||||||||||||||||||||||
Charge-Offs | (6 | ) | (575 | ) | - | (16 | ) | (91 | ) | (23 | ) | (60 | ) | (120 | ) | - | - | (891 | ) | ||||||||||||||||||||||||||
Recoveries | - | - | - | - | 115 | 42 | 312 | 54 | - | - | 523 | ||||||||||||||||||||||||||||||||||
Provision | (1,280 | ) | 1,274 | (332 | ) | (95 | ) | (492 | ) | 1,749 | (2,518 | ) | 60 | 639 | 1,420 | 425 | |||||||||||||||||||||||||||||
Ending Balance- December 31, 2013 | $ | 5,178 | $ | 3,576 | $ | 654 | $ | 1,108 | $ | 2,767 | $ | 12,205 | $ | 5,697 | $ | 176 | $ | 639 | $ | 2,274 | $ | 34,274 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | - | - | - | 414 | 209 | 122 | 820 | 51 | - | - | 1,616 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,178 | 3,576 | 654 | 694 | 2,558 | 12,083 | 4,877 | 125 | 639 | 2,274 | 32,658 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 407,514 | $ | 328,264 | $ | 41,092 | $ | 151,292 | $ | 35,477 | $ | 256,414 | $ | 150,398 | $ | 5,052 | $ | 12,733 | $ | - | $ | 1,388,236 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,176 | - | 4,500 | 2,072 | 1,045 | 522 | 5,250 | 51 | - | - | 35,616 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 385,338 | 328,264 | 36,592 | 149,220 | 34,432 | 255,892 | 145,148 | 5,001 | 12,733 | - | 1,352,620 | ||||||||||||||||||||||||||||||||||
31-Dec-12 | Commercial Real Estate | Agricultural Real Estate | Real Estate Construction | Residential 1st Mortgages | Home Equity Lines & Loans | Agricultural | Commercial | Consumer & Other | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2012 | $ | 5,823 | $ | 2,583 | $ | 1,933 | $ | 1,251 | $ | 3,746 | $ | 8,127 | $ | 8,733 | $ | 207 | $ | - | $ | 614 | $ | 33,017 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (152 | ) | (259 | ) | (294 | ) | (198 | ) | (145 | ) | - | - | (1,048 | ) | ||||||||||||||||||||||||||||
Recoveries | - | 90 | - | 53 | 14 | 61 | 117 | 63 | - | - | 398 | ||||||||||||||||||||||||||||||||||
Provision | 641 | 204 | (947 | ) | 67 | (266 | ) | 2,543 | (689 | ) | 57 | - | 240 | 1,850 | |||||||||||||||||||||||||||||||
Ending Balance- December 31, 2012 | $ | 6,464 | $ | 2,877 | $ | 986 | $ | 1,219 | $ | 3,235 | $ | 10,437 | $ | 7,963 | $ | 182 | $ | - | $ | 854 | $ | 34,217 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 1,272 | - | 259 | 55 | 182 | 996 | 151 | 61 | - | - | 2,976 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,192 | 2,877 | 727 | 1,164 | 3,053 | 9,441 | 7,812 | 121 | - | 854 | 31,241 | ||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 350,548 | $ | 311,992 | $ | 32,680 | $ | 140,257 | $ | 42,042 | $ | 221,032 | $ | 143,293 | $ | 5,058 | $ | - | $ | - | $ | 1,246,902 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,835 | 5,423 | 4,603 | 1,849 | 1,199 | 3,937 | 309 | 61 | - | - | 40,216 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 327,713 | 306,569 | 28,077 | 138,408 | 40,843 | 217,095 | 142,984 | 4,997 | - | - | 1,206,686 | ||||||||||||||||||||||||||||||||||
Loan portfolio allocated by management's internal risk ratings | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show the loan & lease portfolio allocated by management’s internal risk ratings at December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Pass | Mention | Substandard | Loans & Leases | |||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 398,488 | $ | 7,979 | $ | 1,047 | $ | 407,514 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 325,926 | 2,338 | - | 328,264 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 39,460 | 1,632 | - | 41,092 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 149,798 | 774 | 720 | 151,292 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 34,821 | - | 656 | 35,477 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 255,443 | 889 | 82 | 256,414 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 132,008 | 15,426 | 2,964 | 150,398 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,763 | - | 289 | 5,052 | |||||||||||||||||||||||||||||||||||||||||
Leases | 12,733 | - | - | 12,733 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,353,440 | $ | 29,038 | $ | 5,758 | $ | 1,388,236 | |||||||||||||||||||||||||||||||||||||
31-Dec-12 | Pass | Special Mention | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 326,037 | $ | 15,528 | $ | 8,983 | $ | 350,548 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 299,642 | 6,605 | 5,745 | 311,992 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 26,445 | 6,235 | - | 32,680 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 137,998 | 1,192 | 1,067 | 140,257 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 40,866 | - | 1,176 | 42,042 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 216,164 | 1,168 | 3,700 | 221,032 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 137,217 | 5,586 | 490 | 143,293 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,737 | - | 321 | 5,058 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,189,106 | $ | 36,314 | $ | 21,482 | $ | 1,246,902 | |||||||||||||||||||||||||||||||||||||
Aging analysis of the loan portfolio by the time past due | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show an aging analysis of the loan & lease portfolio by the time past due at December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-89 Days | 90 Days and | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans & Leases | |||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 773 | $ | - | $ | - | $ | 773 | $ | 406,741 | $ | 407,514 | |||||||||||||||||||||||||||||||||
Agricultural Real Estate | 607 | - | - | 607 | 327,657 | 328,264 | |||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | 41,092 | 41,092 | |||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | 324 | 324 | 150,968 | 151,292 | |||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 52 | - | 406 | 458 | 35,019 | 35,477 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | 35 | 35 | 256,379 | 256,414 | |||||||||||||||||||||||||||||||||||||||
Commercial | - | - | 1,815 | 1,815 | 148,583 | 150,398 | |||||||||||||||||||||||||||||||||||||||
Consumer & Other | 19 | - | 16 | 35 | 5,017 | 5,052 | |||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | 12,733 | 12,733 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 1,451 | $ | - | $ | 2,596 | $ | 4,047 | $ | 1,384,189 | $ | 1,388,236 | |||||||||||||||||||||||||||||||||
30-89 Days | 90 Days and | Total Past | Total | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | |||||||||||||||||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 150 | $ | - | $ | - | $ | 150 | $ | 350,398 | $ | 350,548 | |||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | 5,423 | 5,423 | 306,569 | 311,992 | |||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | 32,680 | 32,680 | |||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 23 | - | 445 | 468 | 139,789 | 140,257 | |||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 70 | - | 213 | 283 | 41,759 | 42,042 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | 3,198 | 3,198 | 217,834 | 221,032 | |||||||||||||||||||||||||||||||||||||||
Commercial | 293 | - | - | 293 | 143,000 | 143,293 | |||||||||||||||||||||||||||||||||||||||
Consumer & Other | 11 | - | 19 | 30 | 5,028 | 5,058 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 547 | $ | - | $ | 9,298 | $ | 9,845 | $ | 1,237,057 | $ | 1,246,902 | |||||||||||||||||||||||||||||||||
Impaired loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show information related to impaired loans & leases at and for the year ended December 31, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 102 | $ | 101 | $ | - | $ | 865 | $ | 8 | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 2,185 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 450 | 11 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | 228 | 5 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 35 | 43 | - | 586 | - | ||||||||||||||||||||||||||||||||||||||||
Commercial | 3,474 | 3,532 | - | 939 | 13 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
$ | 3,611 | $ | 3,676 | $ | - | $ | 5,253 | $ | 37 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 823 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 769 | 826 | 154 | 254 | 6 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 689 | 821 | 138 | 332 | 3 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 488 | 488 | 122 | 1,002 | 31 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 1,641 | 1,657 | 820 | 1,072 | 6 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 50 | 53 | 50 | 126 | 3 | ||||||||||||||||||||||||||||||||||||||||
$ | 3,637 | $ | 3,845 | $ | 1,284 | $ | 3,611 | $ | 49 | ||||||||||||||||||||||||||||||||||||
Total | $ | 7,248 | $ | 7,521 | $ | 1,284 | $ | 8,864 | $ | 86 | |||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 289 | $ | 289 | $ | - | $ | 506 | $ | 20 | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 5,437 | 5,454 | - | 2,611 | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 658 | 761 | - | 458 | 3 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 792 | 871 | - | 775 | 23 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 1,932 | 1,954 | - | 1,159 | 19 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 106 | 106 | - | 144 | 6 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
$ | 9,214 | $ | 9,435 | $ | - | $ | 5,653 | $ | 71 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 54 | - | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 194 | 237 | 173 | 182 | 4 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 2,006 | 2,019 | 996 | 997 | 1 | ||||||||||||||||||||||||||||||||||||||||
Commercial | 144 | 144 | 144 | 159 | 4 | ||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 61 | 63 | 61 | 31 | - | ||||||||||||||||||||||||||||||||||||||||
$ | 2,405 | $ | 2,463 | $ | 1,374 | $ | 1,423 | $ | 9 | ||||||||||||||||||||||||||||||||||||
Total | $ | 11,619 | $ | 11,898 | $ | 1,374 | $ | 7,076 | $ | 80 | |||||||||||||||||||||||||||||||||||
Loans by class modified as troubled debt restructured loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructured loans for the period ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 4 | $ | 306 | $ | 290 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 4 | 414 | 387 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | 4 | 5,016 | 5,016 | ||||||||||||||||||||||||||||||||||||||||||
Total | 12 | $ | 5,736 | $ | 5,693 | ||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as troubled debt restructured loans for the period ended December 31, 2012 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 1 | $ | 116 | $ | 116 | ||||||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 2 | 216 | 201 | ||||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 7 | 529 | 480 | ||||||||||||||||||||||||||||||||||||||||||
Agricultural | 4 | 858 | 858 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | 3 | 273 | 273 | ||||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 1 | 41 | 41 | ||||||||||||||||||||||||||||||||||||||||||
Total | 18 | $ | 2,033 | $ | 1,969 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Premises and Equipment [Abstract] | ' | ||||||||
Premises and equipment | ' | ||||||||
Premises and equipment as of December 31, consisted of the following: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Land and Buildings | $ | 33,354 | $ | 32,843 | |||||
Furniture, Fixtures, and Equipment | 16,770 | 17,024 | |||||||
Leasehold Improvements | 2,060 | 2,054 | |||||||
Subtotal | 52,184 | 51,921 | |||||||
Less: Accumulated Depreciation and Amortization | 29,297 | 29,020 | |||||||
Total | $ | 22,887 | $ | 22,901 |
Time_Deposits_Tables
Time Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Time Deposits [Abstract] | ' | ||||||||
Time deposits of $100,000 or more | ' | ||||||||
Time Deposits of $100,000 or more as of December 31 were as follows: | |||||||||
(in thousands) | 2013 | 2012 | |||||||
Balance | $ | 313,660 | $ | 328,014 | |||||
Scheduled maturities of time deposits | ' | ||||||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
(in thousands) | Scheduled | ||||||||
Maturities | |||||||||
2014 | $ | 381,392 | |||||||
2015 | 25,665 | ||||||||
2016 | 12,292 | ||||||||
2017 | 9,010 | ||||||||
2018 | 2,063 | ||||||||
Total | $ | 430,422 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||||||||||||||
Current and deferred income tax expense (benefit) | ' | ||||||||||||||||||||||||
Current and deferred income tax expense (benefit) provided for the years ended December 31 consisted of the following: | |||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current | |||||||||||||||||||||||||
Federal | $ | 11,497 | $ | 12,252 | $ | 10,168 | |||||||||||||||||||
State | 4,357 | 4,281 | 3,734 | ||||||||||||||||||||||
Total Current | 15,854 | 16,533 | 13,902 | ||||||||||||||||||||||
Deferred | |||||||||||||||||||||||||
Federal | (998 | ) | (2,041 | ) | (685 | ) | |||||||||||||||||||
State | (635 | ) | (507 | ) | (575 | ) | |||||||||||||||||||
Total Deferred | (1,633 | ) | (2,548 | ) | (1,260 | ) | |||||||||||||||||||
Total Provision for Taxes | $ | 14,221 | $ | 13,985 | $ | 12,642 | |||||||||||||||||||
Total provision for income taxes reconciliation with federal statutory rate | ' | ||||||||||||||||||||||||
The total provision for income taxes differs from the federal statutory rate as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | Amount | Rate | Amount | Rate | Amount | Rate | |||||||||||||||||||
Tax Provision at Federal Statutory Rate | $ | 13,399 | 35 | % | $ | 13,067 | 35 | % | $ | 12,198 | 35 | % | |||||||||||||
Interest on Obligations of States and Political Subdivisions exempt from Federal Taxation | (894 | ) | (2.3 | %) | (917 | ) | (2.5 | %) | (884 | ) | (2.5 | %) | |||||||||||||
State and Local Income Taxes, Net of Federal Income Tax Benefit | 2,419 | 6.3 | % | 2,453 | 6.6 | % | 2,053 | 5.9 | % | ||||||||||||||||
Bank Owned Life Insurance | (702 | ) | (1.8 | %) | (675 | ) | (1.8 | %) | (663 | ) | (1.9 | %) | |||||||||||||
Low-Income Housing Tax Credit | (129 | ) | (0.3 | %) | - | - | - | - | |||||||||||||||||
Other, Net | 128 | 0.3 | % | 57 | 0.2 | % | (62 | ) | (0.2 | %) | |||||||||||||||
Total Provision for Taxes | $ | 14,221 | 37.1 | % | $ | 13,985 | 37.5 | % | $ | 12,642 | 36.3 | % | |||||||||||||
Components of net deferred tax assets | ' | ||||||||||||||||||||||||
The components of net deferred tax assets as of December 31 are as follows: | |||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Deferred Tax Assets | |||||||||||||||||||||||||
Allowance for Credit Losses | $ | 14,470 | $ | 14,446 | |||||||||||||||||||||
Accrued Liabilities | 7,723 | 6,283 | |||||||||||||||||||||||
Deferred Compensation | 8,859 | 7,015 | |||||||||||||||||||||||
State Franchise Tax | 1,525 | 1,498 | |||||||||||||||||||||||
Capital Loss Carry Forward | - | 210 | |||||||||||||||||||||||
Interest on Non-Accrual Loans | 15 | 96 | |||||||||||||||||||||||
ORE Writedown and Holding Costs | 1,713 | 1,852 | |||||||||||||||||||||||
Unrealized Loss on Securities Available-for-Sale | 1,790 | - | |||||||||||||||||||||||
Low-Income Housing Investment | 21 | - | |||||||||||||||||||||||
Total Deferred Tax Assets | $ | 36,116 | $ | 31,400 | |||||||||||||||||||||
Deferred Tax Liabilities | |||||||||||||||||||||||||
Premises and Equipment | (213 | ) | (415 | ) | |||||||||||||||||||||
Securities Accretion | (966 | ) | (996 | ) | |||||||||||||||||||||
Unrealized Gain on Securities Available-for-Sale | - | (5,078 | ) | ||||||||||||||||||||||
Leasing Activities | (1,501 | ) | - | ||||||||||||||||||||||
Other | (787 | ) | (763 | ) | |||||||||||||||||||||
Total Deferred Tax Liabilities | (3,467 | ) | (7,252 | ) | |||||||||||||||||||||
Net Deferred Tax Assets | $ | 32,649 | $ | 24,148 |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | ' | ||||||||||||||||||||||||
In addition, the most recent notification from the FDIC categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. 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 tables. There are no conditions or events since that notification that management believes have changed the Bank’s category. | |||||||||||||||||||||||||
Well Capitalized | |||||||||||||||||||||||||
Regulatory Capital | Under Prompt | ||||||||||||||||||||||||
(in thousands) | Actual | Requirements | Corrective Action | ||||||||||||||||||||||
31-Dec-13 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Total Bank Capital to Risk Weighted Assets | $ | 244,087 | 13.98 | % | $ | 139,674 | 8 | % | $ | 174,593 | 10 | % | |||||||||||||
Total Consolidated Capital to Risk Weighted Assets | $ | 244,354 | 13.99 | % | $ | 139,689 | 8 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Risk Weighted Assets | $ | 222,108 | 12.72 | % | $ | 69,837 | 4 | % | $ | 104,756 | 6 | % | |||||||||||||
Tier 1 Consolidated Capital to Risk Weighted Assets | $ | 222,372 | 12.74 | % | $ | 69,845 | 4 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Average Assets | $ | 222,108 | 11.02 | % | $ | 80,633 | 4 | % | $ | 100,791 | 5 | % | |||||||||||||
Tier 1 Consolidated Capital to Average Assets | $ | 222,372 | 11.01 | % | $ | 80,755 | 4 | % | N/ | A | N/ | A | |||||||||||||
Well Capitalized | |||||||||||||||||||||||||
Regulatory Capital | Under Prompt | ||||||||||||||||||||||||
(in thousands) | Actual | Requirements | Corrective Action | ||||||||||||||||||||||
31-Dec-12 | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
Total Bank Capital to Risk Weighted Assets | $ | 226,931 | 14.94 | % | $ | 121,506 | 8 | % | $ | 151,883 | 10 | % | |||||||||||||
Total Consolidated Capital to Risk Weighted Assets | $ | 227,214 | 14.96 | % | $ | 121,536 | 8 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Risk Weighted Assets | $ | 207,756 | 13.68 | % | $ | 60,753 | 4 | % | $ | 91,130 | 6 | % | |||||||||||||
Tier 1 Consolidated Capital to Risk Weighted Assets | $ | 208,034 | 13.69 | % | $ | 60,768 | 4 | % | N/ | A | N/ | A | |||||||||||||
Tier 1 Bank Capital to Average Assets | $ | 207,756 | 10.86 | % | $ | 76,493 | 4 | % | $ | 95,616 | 5 | % | |||||||||||||
Tier 1 Consolidated Capital to Average Assets | $ | 208,034 | 10.86 | % | $ | 76,605 | 4 | % | N/ | A | N/ | A |
Dividends_and_Basic_Earnings_P1
Dividends and Basic Earnings Per Common Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ||||||||||||
Calculation of Basic Earnings Per Common Share | ' | ||||||||||||
Basic earnings per common share amounts are computed by dividing net income by the weighted average number of common shares outstanding for the period. The following table calculates the basic earnings per common share for the periods indicated. | |||||||||||||
(net income in thousands) | 2013 | 2012 | 2011 | ||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Average Number of Common Shares Outstanding | 777,882 | 778,648 | 779,424 | ||||||||||
Basic Earnings Per Common Share | $ | 30.93 | $ | 29.99 | $ | 28.49 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||
Information about the Company's assets and liabilities measured at fair value on a recurring basis | ' | ||||||||||||||||
The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,436 | $ | 23,394 | $ | 5,042 | $ | - | |||||||||
Mortgage Backed Securities | 324,929 | - | 324,929 | - | |||||||||||||
Corporate Securities | 49,380 | 8,191 | 41,189 | - | |||||||||||||
Other | 1,894 | 1,584 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 404,639 | $ | 33,169 | $ | 371,470 | $ | - | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2012, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 26,823 | $ | 21,731 | $ | 5,092 | $ | - | |||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | |||||||||||||
Mortgage Backed Securities | 352,772 | - | 352,772 | - | |||||||||||||
Corporate Securities | 22,558 | 4,020 | 18,538 | - | |||||||||||||
Other | 10,173 | 9,863 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 417,991 | $ | 35,614 | $ | 376,712 | $ | 5,665 | |||||||||
Changes in level 3 assets measured at fair value on a recurring basis | ' | ||||||||||||||||
Fair values for Level 2 available-for-sale investment securities are based on quoted market prices for similar securities. During the year ended December 31, 2013, $5.6 million were transferred out of level 3 available-for-sale investment securities into held-to-maturity investment securities. During the year ended December 31, 2012, there were no transfers out of level 2 to level 3. The following table presents information about the activity of level 3 assets. | |||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||
Balance at Beginning of Period | $ | 5,665 | $ | 5,782 | |||||||||||||
Total Realized and Unrealized Gains/(Losses) Included in Income | - | - | |||||||||||||||
Total Unrealized Gains/(Losses) Included in Other Comprehensive Income | - | - | |||||||||||||||
Purchase of Securities | - | - | |||||||||||||||
Sales, Maturities, and Calls of Securities | (84 | ) | (117 | ) | |||||||||||||
Net Transfers out of Available for Sale Securities | (5,581 | ) | - | ||||||||||||||
Balance at End of Period | $ | - | $ | 5,665 | |||||||||||||
Information about the Company's assets and liabilities measured at fair value on a non-recurring basis | ' | ||||||||||||||||
The following tables present information about the Company’s other real estate and impaired loans & leases, classes of assets or liabilities that the Company carries at fair value on a non-recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. Not all impaired loans & leases are carried at fair value. Impaired loans & leases are only included in the following tables when their fair value is based upon an appraisal of the collateral, and if that appraisal results in a partial charge-off or the establishment of a specific reserve. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 614 | $ | - | $ | - | $ | 614 | |||||||||
Home Equity Lines and Loans | 551 | - | - | 551 | |||||||||||||
Agricultural | 366 | - | - | 366 | |||||||||||||
Commercial | 820 | - | - | 820 | |||||||||||||
Total Impaired Loans | 2,351 | - | - | 2,351 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,399 | - | - | 2,399 | |||||||||||||
Agricultural Real Estate | 2,212 | - | - | 2,212 | |||||||||||||
Total Other Real Estate | 4,611 | - | - | 4,611 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 6,962 | $ | - | $ | - | $ | 6,962 | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2012, Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 235 | $ | - | $ | - | $ | 235 | |||||||||
Home Equity Lines and Loans | 462 | - | - | 462 | |||||||||||||
Agricultural | 1,010 | - | - | 1,010 | |||||||||||||
Total Impaired Loans | 1,707 | - | - | 1,707 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,553 | - | - | 2,553 | |||||||||||||
Total Other Real Estate | 2,553 | - | - | 2,553 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 4,260 | $ | - | $ | - | $ | 4,260 | |||||||||
Quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis | ' | ||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2013: | |||||||||||||||||
(in thousands) | Fair Value | Valuation Technique | Unobservable Inputs | Range, Weighted Avg. | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgage | $ | 614 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -35%, 22 | % | |||||||||||
Home Equity Lines and Loans | $ | 551 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 2% - 34%, 11 | % | |||||||||||
Agricultural | $ | 366 | Income Approach | Capitalization Rate | 14% - 14%, 14 | % | |||||||||||
Commercial | $ | 820 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 15% - 15%, 15 | % | |||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | $ | 2,399 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % | |||||||||||
Agricultural Real Estate | $ | 2,212 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Book value and estimated fair value of financial instruments | ' | ||||||||||||||||||||
The following tables summarize the book value and estimated fair value of financial instruments for the periods indicated: | |||||||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
31-Dec-13 | Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | Total Estimated Fair Value | ||||||||||||||||
(in thousands) | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 83,677 | $ | 83,677 | $ | - | $ | - | $ | 83,677 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 28,436 | 23,394 | 5,042 | - | 28,436 | ||||||||||||||||
Mortgage Backed Securities | 324,929 | - | 324,929 | - | 324,929 | ||||||||||||||||
Corporate Securities | 49,380 | 8,191 | 41,189 | - | 49,380 | ||||||||||||||||
Other | 1,894 | 1,584 | 310 | - | 1,894 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 404,639 | 33,169 | 371,470 | - | 404,639 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 65,685 | - | 51,563 | 14,307 | 65,870 | ||||||||||||||||
Mortgage Backed Securities | 45 | - | 45 | - | 45 | ||||||||||||||||
Other | 2,775 | - | 2,775 | - | 2,775 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 68,505 | - | 54,383 | 14,307 | 68,690 | ||||||||||||||||
FHLB Stock | 7,187 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 402,336 | - | - | 403,790 | 403,790 | ||||||||||||||||
Agricultural Real Estate | 324,688 | - | - | 328,704 | 328,704 | ||||||||||||||||
Real Estate Construction | 40,438 | - | - | 40,800 | 40,800 | ||||||||||||||||
Residential 1st Mortgages | 150,184 | - | - | 153,352 | 153,352 | ||||||||||||||||
Home Equity Lines and Loans | 32,710 | - | - | 35,250 | 35,250 | ||||||||||||||||
Agricultural | 244,209 | - | - | 242,950 | 242,950 | ||||||||||||||||
Commercial | 144,701 | - | - | 145,131 | 145,131 | ||||||||||||||||
Consumer & Other | 4,876 | - | - | 4,912 | 4,912 | ||||||||||||||||
Leases | 12,094 | - | - | 11,851 | 11,851 | ||||||||||||||||
Unallocated Allowance | (2,274 | ) | - | - | (2,274 | ) | (2,274 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,353,962 | - | - | 1,364,466 | 1,364,466 | ||||||||||||||||
Accrued Interest Receivable | 6,941 | - | 6,941 | - | 6,941 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 495,963 | 495,963 | - | - | 495,963 | ||||||||||||||||
Interest Bearing Transaction | 291,795 | 291,795 | - | - | 291,795 | ||||||||||||||||
Savings and Money Market | 589,511 | 589,511 | - | - | 589,511 | ||||||||||||||||
Time | 430,422 | - | 430,752 | - | 430,752 | ||||||||||||||||
Total Deposits | 1,807,691 | 1,377,269 | 430,752 | - | 1,808,021 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 6,224 | - | 6,224 | ||||||||||||||||
Accrued Interest Payable | 352 | - | 352 | - | 352 | ||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
31-Dec-12 | Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Other Observable Inputs | Significant Unobservable Inputs | Total Estimated Fair Value | ||||||||||||||||
(in thousands) | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 129,426 | $ | 129,426 | $ | - | $ | - | $ | 129,426 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 26,823 | 21,731 | 5,092 | - | 26,823 | ||||||||||||||||
Obligations of States and Political Subdivisions | 5,665 | - | - | 5,665 | 5,665 | ||||||||||||||||
Mortgage Backed Securities | 352,772 | - | 352,772 | - | 352,772 | ||||||||||||||||
Corporate Securities | 22,558 | 4,020 | 18,538 | - | 22,558 | ||||||||||||||||
Other | 10,173 | 9,863 | 310 | - | 10,173 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 417,991 | 35,614 | 376,712 | 5,665 | 417,991 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 65,694 | - | 60,177 | 7,810 | 67,987 | ||||||||||||||||
Mortgage Backed Securities | 484 | - | 496 | - | 496 | ||||||||||||||||
Other | 2,214 | - | 2,214 | - | 2,214 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 68,392 | - | 62,887 | 7,810 | 70,697 | ||||||||||||||||
FHLB Stock | 7,368 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans, Net of Deferred Loan Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 344,084 | - | - | 349,524 | 349,524 | ||||||||||||||||
Agricultural Real Estate | 309,115 | - | - | 316,302 | 316,302 | ||||||||||||||||
Real Estate Construction | 31,694 | - | - | 32,024 | 32,024 | ||||||||||||||||
Residential 1st Mortgages | 139,038 | - | - | 144,203 | 144,203 | ||||||||||||||||
Home Equity Lines and Loans | 38,807 | - | - | 41,419 | 41,419 | ||||||||||||||||
Agricultural | 210,595 | - | - | 209,578 | 209,578 | ||||||||||||||||
Commercial | 135,330 | - | - | 134,647 | 134,647 | ||||||||||||||||
Consumer & Other | 4,876 | - | - | 4,847 | 4,847 | ||||||||||||||||
Unallocated Allowance | (854 | ) | - | - | (854 | ) | (854 | ) | |||||||||||||
Total Loans, Net of Deferred Loan Fees & Allowance | 1,212,685 | - | - | 1,231,690 | 1,231,690 | ||||||||||||||||
Accrued Interest Receivable | 6,389 | - | - | 6,389 | 6,389 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 462,251 | 462,251 | - | - | 462,251 | ||||||||||||||||
Interest Bearing Transaction | 259,141 | 259,141 | - | - | 259,141 | ||||||||||||||||
Savings and Money Market | 541,526 | 541,526 | - | - | 541,526 | ||||||||||||||||
Time | 459,108 | - | 459,993 | - | 459,993 | ||||||||||||||||
Total Deposits | 1,722,026 | 1,262,918 | 459,993 | - | 1,722,911 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 5,750 | - | 5,750 | ||||||||||||||||
Accrued Interest Payable | 498 | - | 498 | - | 498 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||
Off Balance Sheet Arrangements | ' | ||||||||
In the normal course of business, the Company enters in to financial instruments with off balance sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These instruments include commitments to extend credit, letters of credit, and other types of financial guarantees. The Company had the following off balance sheet commitments as of the dates indicated. | |||||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||||
Commitments to Extend Credit | $ | 445,294 | $ | 334,772 | |||||
Letters of Credit | 7,393 | 5,281 | |||||||
Performance Guarantees Under Interest Rate Swap Contracts Entered Into Between Our Borrowing Customers and Third Parties | - | 1,796 |
Parent_Company_Financial_Infor1
Parent Company Financial Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Parent Company Financial Information [Abstract] | ' | ||||||||||||
Schedule of Condensed Financial Statements | ' | ||||||||||||
The following financial information is presented as of December 31 for the periods indicated. | |||||||||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Balance Sheets | |||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||
Cash | $ | 416 | $ | 212 | |||||||||
Investment in Farmers & Merchants Bank of Central California | 219,640 | 214,755 | |||||||||||
Investment Securities | 410 | 410 | |||||||||||
Other Assets | 87 | 267 | |||||||||||
Total Assets | $ | 220,553 | $ | 215,644 | |||||||||
Subordinated Debentures | $ | 10,310 | $ | 10,310 | |||||||||
Liabilities | 339 | 301 | |||||||||||
Shareholders' Equity | 209,904 | 205,033 | |||||||||||
Total Liabilities and Shareholders' Equity | $ | 220,553 | $ | 215,644 | |||||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Statements of Income | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Equity in Undistributed Earnings in Farmers & Merchants Bank of Central California | $ | 14,352 | $ | 13,247 | $ | 12,715 | |||||||
Dividends from Subsidiary | 10,450 | 10,900 | 10,325 | ||||||||||
Interest Income | 10 | 10 | 10 | ||||||||||
Other Expenses, Net | (1,288 | ) | (1,386 | ) | (1,443 | ) | |||||||
Tax Benefit | 537 | 578 | 602 | ||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Farmers & Merchants Bancorp | |||||||||||||
Condensed Statements of Cash Flows | |||||||||||||
Year Ended December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | ||||||||||
Cash Flows from Operating Activities: | |||||||||||||
Net Income | $ | 24,061 | $ | 23,349 | $ | 22,209 | |||||||
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||||||||||||
Equity in Undistributed Net Earnings from Subsidiary | (14,352 | ) | (13,247 | ) | (12,715 | ) | |||||||
Net Decrease (Increase) in Other Assets | 38 | (216 | ) | (3 | ) | ||||||||
Net Increase (Decrease) in Liabilities | 180 | (78 | ) | 56 | |||||||||
Net Cash Provided by Operating Activities | 9,927 | 9,808 | 9,547 | ||||||||||
Investing Activities: | |||||||||||||
Securities Purchased | - | - | (1,296 | ) | |||||||||
Securities Sold or Matured | - | - | 1,196 | ||||||||||
Net Cash Used by Investing Activities | - | - | (100 | ) | |||||||||
Financing Activities: | |||||||||||||
Stock Repurchased | - | (576 | ) | - | |||||||||
Cash Dividends | (9,723 | ) | (9,418 | ) | (9,158 | ) | |||||||
Net Cash Used by Financing Activities | (9,723 | ) | (9,994 | ) | (9,158 | ) | |||||||
Increase (Decrease) in Cash and Cash Equivalents | 204 | (186 | ) | 289 | |||||||||
Cash and Cash Equivalents at Beginning of Year | 212 | 398 | 109 | ||||||||||
Cash and Cash Equivalents at End of Year | $ | 416 | $ | 212 | $ | 398 |
Significant_Accounting_Policie2
Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
RiskFactor | |
Segment | |
Component | |
Category | |
Cash and Cash Equivalents [Abstract] | ' |
Period of transactions for cash and cash equivalents | '1 day |
Investment Securities [Abstract] | ' |
Number of components into which amount of impairment is split | 2 |
Loans [Abstract] | ' |
Period after which loans are placed on non accrual status, minimum | '90 days |
Allowance for Loan Losses [Abstract] | ' |
Consecutive months of payments | '6 months |
Number of primary components of overall allowance for loan losses | 2 |
Number of categories into which risk ratings are grouped | 5 |
Number of risk factors on agricultural loans | 2 |
Residential real estate values | '5 years |
Income Taxes [Abstract] | ' |
Percentage likely of being realized upon settlement with the applicable taxing authority, minimum (in hundredths) | 50.00% |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 1 |
Buildings [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '30 years |
Buildings [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '40 years |
Furniture and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '3 years |
Furniture and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '7 years |
Leasehold Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '5 years |
Leasehold Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives | '10 years |
Investment_Securities_Details
Investment Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Available-for-sale securities [Abstract] | ' | ' | ||
Fair/Book Value, Total | $404,639 | $417,991 | ||
Held To Maturity Securities [Abstract] | ' | ' | ||
Book Value | 68,505 | 68,392 | ||
Fair Value | 68,690 | ' | ||
Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | 408,897 | 405,914 | ||
Gross Unrealized Gains | 3,455 | 12,099 | ||
Gross Unrealized Losses | 7,713 | 22 | ||
Fair/Book Value, Total | 404,639 | 417,991 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Less Than 12 Months Fair Value | 211,033 | 7,984 | ||
12 Months or More Fair Value | 2,457 | 0 | ||
Total Fair Value | 213,490 | 7,984 | ||
Less Than 12 Months Unrealized Loss | 7,672 | 22 | ||
12 Months or More Unrealized Loss | 41 | 0 | ||
Total Unrealized Loss | 7,713 | 22 | ||
Held-to-maturity Securities [Member] | ' | ' | ||
Held To Maturity Securities [Abstract] | ' | ' | ||
Book Value | 68,505 | 68,392 | ||
Gross Unrealized Gains | 812 | 2,308 | ||
Gross Unrealized Losses | 627 | 3 | ||
Fair Value | 68,690 | 70,697 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Less Than 12 Months Fair Value | 9,518 | 528 | ||
12 Months or More Fair Value | 0 | 0 | ||
Total Fair Value | 9,518 | 528 | ||
Less Than 12 Months Unrealized Loss | 627 | 3 | ||
12 Months or More Unrealized Loss | 0 | 0 | ||
Total Unrealized Loss | 627 | 3 | ||
Government Agency & Government Sponsored Entities [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | 28,287 | 26,546 | ||
Gross Unrealized Gains | 149 | 277 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair/Book Value, Total | 28,436 | 26,823 | ||
Obligations of States and Political Subdivisions [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | ' | 5,665 | ||
Gross Unrealized Gains | ' | 0 | ||
Gross Unrealized Losses | ' | 0 | ||
Fair/Book Value, Total | ' | 5,665 | ||
Obligations of States and Political Subdivisions [Member] | Held-to-maturity Securities [Member] | ' | ' | ||
Held To Maturity Securities [Abstract] | ' | ' | ||
Book Value | 65,685 | 65,694 | ||
Gross Unrealized Gains | 812 | 2,296 | ||
Gross Unrealized Losses | 627 | 3 | ||
Fair Value | 65,870 | 67,987 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Less Than 12 Months Fair Value | 9,518 | 528 | ||
12 Months or More Fair Value | 0 | 0 | ||
Total Fair Value | 9,518 | 528 | ||
Less Than 12 Months Unrealized Loss | 627 | 3 | ||
12 Months or More Unrealized Loss | 0 | 0 | ||
Total Unrealized Loss | 627 | 3 | ||
Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | 329,469 | [1] | 341,212 | [1] |
Gross Unrealized Gains | 3,026 | [1] | 11,570 | [1] |
Gross Unrealized Losses | 7,566 | [1] | 10 | [1] |
Fair/Book Value, Total | 324,929 | [1] | 352,772 | [1] |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Less Than 12 Months Fair Value | 195,736 | 4,542 | ||
12 Months or More Fair Value | 0 | 0 | ||
Total Fair Value | 195,736 | 4,542 | ||
Less Than 12 Months Unrealized Loss | 7,566 | 10 | ||
12 Months or More Unrealized Loss | 0 | 0 | ||
Total Unrealized Loss | 7,566 | 10 | ||
Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | ' | ' | ||
Held To Maturity Securities [Abstract] | ' | ' | ||
Book Value | 45 | [1] | 484 | [1] |
Gross Unrealized Gains | 0 | [1] | 12 | [1] |
Gross Unrealized Losses | 0 | [1] | 0 | [1] |
Fair Value | 45 | [1] | 496 | [1] |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Total Unrealized Loss | 0 | [1] | 0 | [1] |
Corporate Securities [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | 49,247 | 22,318 | [1] | |
Gross Unrealized Gains | 280 | 252 | [1] | |
Gross Unrealized Losses | 147 | 12 | [1] | |
Fair/Book Value, Total | 49,380 | 22,558 | [1] | |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Less Than 12 Months Fair Value | 15,297 | 3,442 | ||
12 Months or More Fair Value | 2,457 | 0 | ||
Total Fair Value | 17,754 | 3,442 | ||
Less Than 12 Months Unrealized Loss | 106 | 12 | ||
12 Months or More Unrealized Loss | 41 | 0 | ||
Total Unrealized Loss | 147 | 12 | ||
Other [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Available-for-sale securities [Abstract] | ' | ' | ||
Amortized Cost | 1,894 | 10,173 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair/Book Value, Total | 1,894 | 10,173 | ||
Other [Member] | Held-to-maturity Securities [Member] | ' | ' | ||
Held To Maturity Securities [Abstract] | ' | ' | ||
Book Value | 2,775 | 2,214 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | 0 | 0 | ||
Fair Value | 2,775 | 2,214 | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ||
Total Unrealized Loss | $0 | $0 | ||
[1] | All Mortgage Backed Securities were issued by an agency or government sponsored entity of the U.S. government. |
Investment_Securities_Contract
Investment Securities, Contract Maturity (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Amortized Cost [Abstract] | ' | ' |
Within One Year | $20,191 | ' |
After One Year Through Five Years | 55,970 | ' |
After Five Years Through Ten Years | 3,267 | ' |
After Ten Years | 0 | ' |
Amortized cost, before single maturity date | 79,428 | ' |
Investment Securities Not Due at a Single Maturity Date - Mortgage-backed Securities | 329,469 | ' |
Amortized cost, Total | 408,897 | ' |
Fair/Book Value [Abstract] | ' | ' |
Within One Year | 20,229 | ' |
After One Year Through Five Years | 56,132 | ' |
After Five Years Through Ten Years | 3,349 | ' |
After Ten Years | 0 | ' |
Fair/Book Value, before single maturity date | 79,710 | ' |
Investment Securities Not Due at a Single Maturity Date - Mortgage-backed Securities | 324,929 | ' |
Fair/Book Value, Total | 404,639 | 417,991 |
Amortized Cost [Abstract] | ' | ' |
Within One Year | 2,449 | ' |
After One Year Through Five Years | 18,866 | ' |
After Five Years Through Ten Years | 26,891 | ' |
After Ten Years | 20,254 | ' |
Amortized cost, before single maturity date | 68,460 | ' |
Investment Securities Not Due at a Single Maturity Date - Mortgage-backed Securities | 45 | ' |
Amortized cost, Total | 68,505 | 68,392 |
Fair Value [Abstract] | ' | ' |
Within One Year | 2,467 | ' |
After One Year Through Five Years | 19,286 | ' |
After Five Years Through Ten Years | 27,266 | ' |
After Ten Years | 19,626 | ' |
Fair/Book Value, before single maturity date | 68,645 | ' |
Investment Securities Not Due at a Single Maturity Date - Mortgage-backed Securities | 45 | ' |
Fair Value | $68,690 | ' |
Investment_Securities_Proceeds
Investment Securities, Proceeds From Sales (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds from sales of securities available-for-sale [Abstract] | ' | ' | ' |
Gross Proceeds | $81,390 | $55,986 | $201,135 |
Gross Gains | 1,208 | 158 | 95 |
Gross Losses | $1,437 | $0 | $0 |
Investment_Securities_Gain_Los
Investment Securities, Gain Loss And Other Disclosures (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Security | ||
Gain (Loss) on Investments [Line Items] | ' | ' |
Number of investment securities held | 352 | ' |
Number of loss positions less than twelve months | 72 | ' |
Number of loss positions in twelve months or more | 2 | ' |
Percentage of bank qualified municipal bond portfolio rated (in hundredths) | 93.00% | ' |
Percentage of portfolio not rated (in hundredths) | 7.00% | ' |
Securities pledged to secure public deposits, FHLB borrowings, and other government agency deposits as required by law | $334,800,000 | $296,900,000 |
Government Agency Government Sponsored Entities [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Unrealized losses | 0 | 0 |
Mortgage Backed Securities [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Unrealized losses | 7,600,000 | 10,000 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Unrealized losses | 627,000 | 3,000 |
Corporate Securities [Member] | ' | ' |
Gain (Loss) on Investments [Line Items] | ' | ' |
Unrealized losses | $147,000 | $12,000 |
Federal_Home_Loan_Bank_of_San_1
Federal Home Loan Bank of San Francisco Stock (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Federal Home Loan Bank of San Francisco Stock [Abstract] | ' | ' |
FHLB stock | $7.20 | $7.40 |
Loans_Leases_Details
Loans & Leases (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | $1,391,759,000 | $1,249,463,000 |
Less: Unearned Income | 3,523,000 | 2,561,000 |
Total Loans & Leases | 1,388,236,000 | 1,246,902,000 |
Less: Allowance for Credit Losses | 34,274,000 | 34,217,000 |
Loans & Leases, Net | 1,353,962,000 | 1,212,685,000 |
Collateral on borrowings lines with FHLB | 456,500,000 | ' |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 411,037,000 | 353,109,000 |
Total Loans & Leases | 407,514,000 | 350,548,000 |
Agricultural Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 328,264,000 | 311,992,000 |
Total Loans & Leases | 328,264,000 | 311,992,000 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 41,092,000 | 32,680,000 |
Total Loans & Leases | 41,092,000 | 32,680,000 |
Residential 1st Mortgages [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 151,292,000 | 140,257,000 |
Total Loans & Leases | 151,292,000 | 140,257,000 |
Home Equity Lines and Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 35,477,000 | 42,042,000 |
Total Loans & Leases | 35,477,000 | 42,042,000 |
Agricultural [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 256,414,000 | 221,032,000 |
Total Loans & Leases | 256,414,000 | 221,032,000 |
Commercial [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 150,398,000 | 143,293,000 |
Total Loans & Leases | 150,398,000 | 143,293,000 |
Consumer & Other [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 5,052,000 | 5,058,000 |
Total Loans & Leases | 5,052,000 | 5,058,000 |
Unallocated [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Loans & Leases | 0 | 0 |
Leases [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Gross Loans & Leases | 12,733,000 | 0 |
Total Loans & Leases | 12,733,000 | 0 |
Federal Home Loan Bank [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Collateral on borrowings lines with FHLB | 456,500,000 | ' |
Maximum Borrowing Capacity | 346,400,000 | ' |
Federal Reserve Bank [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Collateral on borrowings lines with FHLB | 496,500,000 | ' |
Maximum Borrowing Capacity | $369,400,000 | ' |
Allowance_for_Credit_Losses_Al
Allowance for Credit Losses, Allocation of The Allowance For Loan Losses by Portfolio Segment and By Impairment Methodology (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | $34,217 | $33,017 |
Charge-Offs | -891 | -1,048 |
Recoveries | 523 | 398 |
Provision | 425 | 1,850 |
Ending Balance | 34,274 | 34,217 |
Ending Balance Individually Evaluated for Impairment | 1,616 | 2,976 |
Ending Balance Collectively Evaluated for Impairment | 32,658 | 31,241 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 1,388,236 | 1,246,902 |
Ending Balance Individually Evaluated for Impairment | 35,616 | 40,216 |
Ending Balance Collectively Evaluated for Impairment | 1,352,620 | 1,206,686 |
Commercial Real Estate [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 6,464 | 5,823 |
Charge-Offs | -6 | 0 |
Recoveries | 0 | 0 |
Provision | -1,280 | 641 |
Ending Balance | 5,178 | 6,464 |
Ending Balance Individually Evaluated for Impairment | 0 | 1,272 |
Ending Balance Collectively Evaluated for Impairment | 5,178 | 5,192 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 407,514 | 350,548 |
Ending Balance Individually Evaluated for Impairment | 22,176 | 22,835 |
Ending Balance Collectively Evaluated for Impairment | 385,338 | 327,713 |
Agricultural Real Estate [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 2,877 | 2,583 |
Charge-Offs | -575 | 0 |
Recoveries | 0 | 90 |
Provision | 1,274 | 204 |
Ending Balance | 3,576 | 2,877 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 3,576 | 2,877 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 328,264 | 311,992 |
Ending Balance Individually Evaluated for Impairment | 0 | 5,423 |
Ending Balance Collectively Evaluated for Impairment | 328,264 | 306,569 |
Real Estate Construction [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 986 | 1,933 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | -332 | -947 |
Ending Balance | 654 | 986 |
Ending Balance Individually Evaluated for Impairment | 0 | 259 |
Ending Balance Collectively Evaluated for Impairment | 654 | 727 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 41,092 | 32,680 |
Ending Balance Individually Evaluated for Impairment | 4,500 | 4,603 |
Ending Balance Collectively Evaluated for Impairment | 36,592 | 28,077 |
Residential 1st Mortgages [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 1,219 | 1,251 |
Charge-Offs | -16 | -152 |
Recoveries | 0 | 53 |
Provision | -95 | 67 |
Ending Balance | 1,108 | 1,219 |
Ending Balance Individually Evaluated for Impairment | 414 | 55 |
Ending Balance Collectively Evaluated for Impairment | 694 | 1,164 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 151,292 | 140,257 |
Ending Balance Individually Evaluated for Impairment | 2,072 | 1,849 |
Ending Balance Collectively Evaluated for Impairment | 149,220 | 138,408 |
Home Equity Lines and Loans [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 3,235 | 3,746 |
Charge-Offs | -91 | -259 |
Recoveries | 115 | 14 |
Provision | -492 | -266 |
Ending Balance | 2,767 | 3,235 |
Ending Balance Individually Evaluated for Impairment | 209 | 182 |
Ending Balance Collectively Evaluated for Impairment | 2,558 | 3,053 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 35,477 | 42,042 |
Ending Balance Individually Evaluated for Impairment | 1,045 | 1,199 |
Ending Balance Collectively Evaluated for Impairment | 34,432 | 40,843 |
Agricultural [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 10,437 | 8,127 |
Charge-Offs | -23 | -294 |
Recoveries | 42 | 61 |
Provision | 1,749 | 2,543 |
Ending Balance | 12,205 | 10,437 |
Ending Balance Individually Evaluated for Impairment | 122 | 996 |
Ending Balance Collectively Evaluated for Impairment | 12,083 | 9,441 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 256,414 | 221,032 |
Ending Balance Individually Evaluated for Impairment | 522 | 3,937 |
Ending Balance Collectively Evaluated for Impairment | 255,892 | 217,095 |
Commercial [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 7,963 | 8,733 |
Charge-Offs | -60 | -198 |
Recoveries | 312 | 117 |
Provision | -2,518 | -689 |
Ending Balance | 5,697 | 7,963 |
Ending Balance Individually Evaluated for Impairment | 820 | 151 |
Ending Balance Collectively Evaluated for Impairment | 4,877 | 7,812 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 150,398 | 143,293 |
Ending Balance Individually Evaluated for Impairment | 5,250 | 309 |
Ending Balance Collectively Evaluated for Impairment | 145,148 | 142,984 |
Consumer & Other [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 182 | 207 |
Charge-Offs | -120 | -145 |
Recoveries | 54 | 63 |
Provision | 60 | 57 |
Ending Balance | 176 | 182 |
Ending Balance Individually Evaluated for Impairment | 51 | 61 |
Ending Balance Collectively Evaluated for Impairment | 125 | 121 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 5,052 | 5,058 |
Ending Balance Individually Evaluated for Impairment | 51 | 61 |
Ending Balance Collectively Evaluated for Impairment | 5,001 | 4,997 |
Leases [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 0 | 0 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 639 | 0 |
Ending Balance | 639 | 0 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 639 | 0 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 12,733 | 0 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 12,733 | 0 |
Unallocated [Member] | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' |
Beginning Balance | 854 | 614 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 1,420 | 240 |
Ending Balance | 2,274 | 854 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 2,274 | 854 |
Loans & Leases [Abstract] | ' | ' |
Ending Balance | 0 | 0 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 0 | 0 |
Restructured loans [Member] | ' | ' |
Loans & Leases [Abstract] | ' | ' |
Ending Balance Individually Evaluated for Impairment | $28,400 | $28,600 |
Allowance_for_Credit_Losses_Lo
Allowance for Credit Losses, Loan Portfolio Allocated by Management's Internal Credit Ratings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | $1,388,236 | $1,246,902 |
Loans outstanding rated doubtful or loss | 0 | 0 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 407,514 | 350,548 |
Agricultural Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 328,264 | 311,992 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 41,092 | 32,680 |
Residential 1st Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 151,292 | 140,257 |
Home Equity Lines and Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 35,477 | 42,042 |
Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 256,414 | 221,032 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 150,398 | 143,293 |
Consumer & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 5,052 | 5,058 |
Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 12,733 | 0 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 1,353,440 | 1,189,106 |
Pass [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 398,488 | 326,037 |
Pass [Member] | Agricultural Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 325,926 | 299,642 |
Pass [Member] | Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 39,460 | 26,445 |
Pass [Member] | Residential 1st Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 149,798 | 137,998 |
Pass [Member] | Home Equity Lines and Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 34,821 | 40,866 |
Pass [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 255,443 | 216,164 |
Pass [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 132,008 | 137,217 |
Pass [Member] | Consumer & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 4,763 | 4,737 |
Pass [Member] | Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 12,733 | ' |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 29,038 | 36,314 |
Special Mention [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 7,979 | 15,528 |
Special Mention [Member] | Agricultural Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 2,338 | 6,605 |
Special Mention [Member] | Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 1,632 | 6,235 |
Special Mention [Member] | Residential 1st Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 774 | 1,192 |
Special Mention [Member] | Home Equity Lines and Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 0 | 0 |
Special Mention [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 889 | 1,168 |
Special Mention [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 15,426 | 5,586 |
Special Mention [Member] | Consumer & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 0 | 0 |
Special Mention [Member] | Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 0 | ' |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 5,758 | 21,482 |
Substandard [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 1,047 | 8,983 |
Substandard [Member] | Agricultural Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 0 | 5,745 |
Substandard [Member] | Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 0 | 0 |
Substandard [Member] | Residential 1st Mortgages [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 720 | 1,067 |
Substandard [Member] | Home Equity Lines and Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 656 | 1,176 |
Substandard [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 82 | 3,700 |
Substandard [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 2,964 | 490 |
Substandard [Member] | Consumer & Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | 289 | 321 |
Substandard [Member] | Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans & Leases: | $0 | ' |
Allowance_for_Credit_Losses_Ag
Allowance for Credit Losses, Aging Analysis of Loan Portfolio by the Time Past Due (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | $1,451,000 | $547,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 2,596,000 | 9,298,000 | ' |
Total Past Due | 4,047,000 | 9,845,000 | ' |
Current | 1,384,189,000 | 1,237,057,000 | ' |
Total Loans & Leases | 1,388,236,000 | 1,246,902,000 | ' |
Interest income forgone on nonaccrual loans | 30,500 | 209,000 | 385,000 |
Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 773,000 | 150,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total Past Due | 773,000 | 150,000 | ' |
Current | 406,741,000 | 350,398,000 | ' |
Total Loans & Leases | 407,514,000 | 350,548,000 | ' |
Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 607,000 | 0 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 0 | 5,423,000 | ' |
Total Past Due | 607,000 | 5,423,000 | ' |
Current | 327,657,000 | 306,569,000 | ' |
Total Loans & Leases | 328,264,000 | 311,992,000 | ' |
Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 0 | 0 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Current | 41,092,000 | 32,680,000 | ' |
Total Loans & Leases | 41,092,000 | 32,680,000 | ' |
Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 0 | 23,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 324,000 | 445,000 | ' |
Total Past Due | 324,000 | 468,000 | ' |
Current | 150,968,000 | 139,789,000 | ' |
Total Loans & Leases | 151,292,000 | 140,257,000 | ' |
Home Equity [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 52,000 | 70,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 406,000 | 213,000 | ' |
Total Past Due | 458,000 | 283,000 | ' |
Current | 35,019,000 | 41,759,000 | ' |
Total Loans & Leases | 35,477,000 | 42,042,000 | ' |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 0 | 0 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 35,000 | 3,198,000 | ' |
Total Past Due | 35,000 | 3,198,000 | ' |
Current | 256,379,000 | 217,834,000 | ' |
Total Loans & Leases | 256,414,000 | 221,032,000 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 0 | 293,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 1,815,000 | 0 | ' |
Total Past Due | 1,815,000 | 293,000 | ' |
Current | 148,583,000 | 143,000,000 | ' |
Total Loans & Leases | 150,398,000 | 143,293,000 | ' |
Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 19,000 | 11,000 | ' |
90 Days and Still Accruing | 0 | 0 | ' |
Nonaccrual | 16,000 | 19,000 | ' |
Total Past Due | 35,000 | 30,000 | ' |
Current | 5,017,000 | 5,028,000 | ' |
Total Loans & Leases | 5,052,000 | 5,058,000 | ' |
Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 89 Days Past Due | 0 | ' | ' |
90 Days and Still Accruing | 0 | ' | ' |
Nonaccrual | 0 | ' | ' |
Total Past Due | 0 | ' | ' |
Current | 12,733,000 | ' | ' |
Total Loans & Leases | $12,733,000 | $0 | ' |
Allowance_for_Credit_Losses_Im
Allowance for Credit Losses, Impaired Loans (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | $3,611 | $9,214 |
Unpaid Principal Balance | 3,676 | 9,435 |
Average Recorded Investment | 5,253 | 5,653 |
Interest Income Recognized | 37 | 71 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 3,637 | 2,405 |
Unpaid Principal Balance | 3,845 | 2,463 |
Related Allowance | 1,284 | 1,374 |
Average Recorded Investment | 3,611 | 1,423 |
Interest Income Recognized | 49 | 9 |
Recorded Investment, Total | 7,248 | 11,619 |
Unpaid Principal Balance, Total | 7,521 | 11,898 |
Related Allowance | 1,284 | 1,374 |
Average Recorded Investment, Total | 8,864 | 7,076 |
Interest Income Recognized, Total | 86 | 80 |
Commercial Real Estate [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 102 | 289 |
Unpaid Principal Balance | 101 | 289 |
Average Recorded Investment | 865 | 506 |
Interest Income Recognized | 8 | 20 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2 | 0 |
Interest Income Recognized | 0 | 0 |
Related Allowance | 0 | 0 |
Agricultural Real Estate [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 5,437 |
Unpaid Principal Balance | 0 | 5,454 |
Average Recorded Investment | 2,185 | 2,611 |
Interest Income Recognized | 0 | 0 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 823 | 0 |
Interest Income Recognized | 0 | 0 |
Related Allowance | 0 | 0 |
Real Estate Construction [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Related Allowance | 0 | 0 |
Residential 1st Mortgages [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 658 |
Unpaid Principal Balance | 0 | 761 |
Average Recorded Investment | 450 | 458 |
Interest Income Recognized | 11 | 3 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 769 | 0 |
Unpaid Principal Balance | 826 | 0 |
Related Allowance | 154 | 0 |
Average Recorded Investment | 254 | 54 |
Interest Income Recognized | 6 | 0 |
Related Allowance | 154 | 0 |
Home Equity [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 792 |
Unpaid Principal Balance | 0 | 871 |
Average Recorded Investment | 228 | 775 |
Interest Income Recognized | 5 | 23 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 689 | 194 |
Unpaid Principal Balance | 821 | 237 |
Related Allowance | 138 | 173 |
Average Recorded Investment | 332 | 182 |
Interest Income Recognized | 3 | 4 |
Related Allowance | 138 | 173 |
Agricultural [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 35 | 1,932 |
Unpaid Principal Balance | 43 | 1,954 |
Average Recorded Investment | 586 | 1,159 |
Interest Income Recognized | 0 | 19 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 488 | 2,006 |
Unpaid Principal Balance | 488 | 2,019 |
Related Allowance | 122 | 996 |
Average Recorded Investment | 1,002 | 997 |
Interest Income Recognized | 31 | 1 |
Related Allowance | 122 | 996 |
Commercial [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 3,474 | 106 |
Unpaid Principal Balance | 3,532 | 106 |
Average Recorded Investment | 939 | 144 |
Interest Income Recognized | 13 | 6 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 1,641 | 144 |
Unpaid Principal Balance | 1,657 | 144 |
Related Allowance | 820 | 144 |
Average Recorded Investment | 1,072 | 159 |
Interest Income Recognized | 6 | 4 |
Related Allowance | 820 | 144 |
Consumer & Other [Member] | ' | ' |
With no related allowance recorded [Abstract] | ' | ' |
Recorded Investment | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Average Recorded Investment | 0 | 0 |
Interest Income Recognized | 0 | 0 |
With an allowance recorded [Abstract] | ' | ' |
Recorded Investment | 50 | 61 |
Unpaid Principal Balance | 53 | 63 |
Related Allowance | 50 | 61 |
Average Recorded Investment | 126 | 31 |
Interest Income Recognized | 3 | 0 |
Related Allowance | $50 | $61 |
Allowance_for_Credit_Losses_Lo1
Allowance for Credit Losses, Loans by Class Modified as Troubled Debt Restructured Loans (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Loan | Loan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Specific reserves | $1,200,000 | $401,000 |
Troubled debt restructured loans | 6,800,000 | 2,600,000 |
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings | 0 | 0 |
Period of modifications involving a reduction of stated interest rate of the loan | '5 years | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | 12 | 18 |
Pre-Modification Outstanding Recorded Investment | 5,736,000 | 2,033,000 |
Post-Modification Recorded Outstanding Investment | 5,693,000 | 1,969,000 |
Increase in allowance for loan losses due to TDR | 0 | 53,000 |
TDR's charge-offs | 43,000 | 64,000 |
Period after which loan is considered to be in payment default | '90 days | ' |
Charge offs on troubled debt restructurings that subsequently defaulted | 0 | ' |
Payment defaults on loans modified as troubled debt restructurings | 174,000 | 0 |
Minimum [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Period of modifications involving extension of maturity date | '6 months | ' |
Maximum [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Period of modifications involving extension of maturity date | '10 years | ' |
Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured loans, performing | 4,600,000 | 2,300,000 |
Commercial Real Estate [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 116,000 |
Post-Modification Recorded Outstanding Investment | ' | 116,000 |
Agricultural Real Estate [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | ' | 0 |
Pre-Modification Outstanding Recorded Investment | ' | 0 |
Post-Modification Recorded Outstanding Investment | ' | 0 |
Real Estate Construction [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | ' | 0 |
Pre-Modification Outstanding Recorded Investment | ' | 0 |
Post-Modification Recorded Outstanding Investment | ' | 0 |
Residential 1st Mortgages [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | 4 | 2 |
Pre-Modification Outstanding Recorded Investment | 306,000 | 216,000 |
Post-Modification Recorded Outstanding Investment | 290,000 | 201,000 |
Home Equity Lines & Loans [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | 414,000 | 529,000 |
Post-Modification Recorded Outstanding Investment | 387,000 | 480,000 |
Agricultural [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | ' | 4 |
Pre-Modification Outstanding Recorded Investment | ' | 858,000 |
Post-Modification Recorded Outstanding Investment | ' | 858,000 |
Commercial [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | 4 | 3 |
Pre-Modification Outstanding Recorded Investment | 5,016,000 | 273,000 |
Post-Modification Recorded Outstanding Investment | 5,016,000 | 273,000 |
Consumer & Other [Member] | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' |
Number of Loans | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 41,000 |
Post-Modification Recorded Outstanding Investment | ' | $41,000 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Subtotal | $52,184,000 | $51,921,000 | ' |
Less: Accumulated Depreciation and Amortization | 29,297,000 | 29,020,000 | ' |
Total | 22,887,000 | 22,901,000 | ' |
Depreciation and Amortization | 1,506,000 | 1,704,000 | 1,801,000 |
Total rental expense | 411,000 | 391,000 | 386,000 |
Rental income | 102,000 | 148,000 | 130,000 |
Land and Building [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Subtotal | 33,354,000 | 32,843,000 | ' |
Furniture, Fixtures, and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Subtotal | 16,770,000 | 17,024,000 | ' |
Leasehold Improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Subtotal | $2,060,000 | $2,054,000 | ' |
Other_Real_Estate_Details
Other Real Estate (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Real Estate [Abstract] | ' | ' |
Other real estate, net | $4.60 | $2.60 |
Other real estate, reserve | $3.70 | $4.10 |
Time_Deposits_Details
Time Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Time Deposits $100,000 or more [Abstract] | ' | ' |
Balance | $313,660 | $328,014 |
Maturities of Time Deposits [Abstract] | ' | ' |
2014 | 381,392 | ' |
2015 | 25,665 | ' |
2016 | 12,292 | ' |
2017 | 9,010 | ' |
2018 | 2,063 | ' |
Total | $430,422 | $459,108 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current [Abstract] | ' | ' | ' |
Federal | $11,497 | $12,252 | $10,168 |
State | 4,357 | 4,281 | 3,734 |
Total Current | 15,854 | 16,533 | 13,902 |
Deferred [Abstract] | ' | ' | ' |
Federal | -998 | -2,041 | -685 |
State | -635 | -507 | -575 |
Total Deferred | -1,633 | -2,548 | -1,260 |
Total Provision for Taxes, Amount | 14,221 | 13,985 | 12,642 |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Tax Provision at Federal Statutory Rate, Amount | 13,399 | 13,067 | 12,198 |
Tax Provision at Federal Statutory Rate, Rate (in hundredths) | 35.00% | 35.00% | 35.00% |
Interest on Obligations of States and Political Subdivisions Exempt from Federal Taxation, Amount | -894 | -917 | -884 |
Interest on Obligations of States and Political Subdivisions Exempt from Federal Taxation, Rate (in hundredths) | -2.30% | -2.50% | -2.50% |
State and Local Income Taxes, Net of Federal Income Tax Benefit, Amount | 2,419 | 2,453 | 2,053 |
State and Local Income Taxes, Net of Federal Income Tax Benefit, Rate (in hundredths) | 6.30% | 6.60% | 5.90% |
Bank Owned Life Insurance, Amount | -702 | -675 | -663 |
Bank Owned Life Insurance, Rate (in hundredths) | -1.80% | -1.80% | -1.90% |
Low-Income Housing Tax Credit, Amount | -129 | 0 | 0 |
Low-Income Housing Tax Credit, Rate (in hundredths) | -0.30% | 0.00% | 0.00% |
Other, Net, Amount | 128 | 57 | -62 |
Other, Net, Rate (in hundredths) | 0.30% | 0.20% | -0.20% |
Total Provision for Taxes, Amount | 14,221 | 13,985 | 12,642 |
Total Provision for Taxes, Rate (in hundredths) | 37.10% | 37.50% | 36.30% |
Deferred Tax Assets [Abstract] | ' | ' | ' |
Allowance for Loan Losses | 14,470 | 14,446 | ' |
Accrued Liabilities | 7,723 | 6,283 | ' |
Deferred Compensation | 8,859 | 7,015 | ' |
State Franchise Tax | 1,525 | 1,498 | ' |
Capital Loss Carry Forward | 0 | 210 | ' |
Interest on Non-Accrual Loans | 15 | 96 | ' |
ORE Write down and Holding Costs | 1,713 | 1,852 | ' |
Unrealized Loss on Securities Available-for-Sale | 1,790 | 0 | ' |
Low-Income Housing Investments | 21 | 0 | ' |
Total Deferred Tax Assets | 36,116 | 31,400 | ' |
Deferred Tax Liabilities [Abstract] | ' | ' | ' |
Premises and Equipment | -213 | -415 | ' |
Securities Accretion | -966 | -996 | ' |
Unrealized Gain on Securities Available-for-Sale | 0 | -5,078 | ' |
Leasing Activities | -1,501 | 0 | ' |
Other | -787 | -763 | ' |
Total Deferred Tax Liabilities | -3,467 | -7,252 | ' |
Net Deferred Tax Assets | $32,649 | $24,148 | ' |
Short_Term_Borrowings_Details
Short Term Borrowings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Short Term Borrowings [Abstract] | ' | ' |
Unused lines of credit | $887,800,000 | $760,900,000 |
Advances from FHLB | 0 | 0 |
Federal Funds Purchased | $0 | $0 |
Securities_Sold_Under_Agreemen1
Securities Sold Under Agreement to Repurchase (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2008 | |
Securities Sold Under Agreement to Repurchase [Abstract] | ' | ' | ' | ' |
Securities Sold under Agreements to Repurchase | $0 | $0 | ' | $60,000,000 |
Early termination fee | $0 | $1,657,000 | $0 | ' |
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Federal Home Loan Bank Advances [Abstract] | ' | ' | ' |
Federal Home Loan Bank Advances, Long Term | $0 | $0 | $530,000 |
Federal Home Loan Bank Advances, Short Term | 0 | 0 | ' |
Federal Home Loan Bank, Advances, Interest Rate (in hundredths) | ' | ' | 5.60% |
Federal Home Loan Bank, Advances, Maturity Date | ' | ' | 25-Sep-18 |
Value of Collateral Pledge and Security Agreement | 1,000,000 | ' | ' |
Collateral on borrowings lines with FHLB | 456,500,000 | ' | ' |
Borrowing Capacity | 346,400,000 | ' | ' |
Prepayment fee | ' | $70,000 | ' |
Longterm_Subordinated_Debentur1
Long-term Subordinated Debentures (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Long-term Subordinated Debentures [Abstract] | ' |
Guaranteed preferred beneficial interests | $10,000,000 |
Junior subordinated debentures | $10,310,000 |
Description of variable rate basis | 'three-month LIBOR |
Floating rate (in hundredths) | 2.85% |
Liquidation value (per capital security) | $1,000 |
Trust Preferred Securities Redemption Date | 17-Dec-33 |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Consolidated [Member] | Consolidated [Member] | Bank [Member] | Bank [Member] | ||
Shareholders' Equity [Abstract] | ' | ' | ' | ' | ' |
Approved funds available for common stock repurchase program | $20,000,000 | ' | ' | ' | ' |
Stock Repurchase Program, Period in Force | '3 years | ' | ' | ' | ' |
Retained Net Profit Period | '2 years | ' | ' | ' | ' |
Dividend the bank could declare without approval from California DBO | 40,314,000 | ' | ' | ' | ' |
Total Capital to Risk Weighted Assets [Abstract] | ' | ' | ' | ' | ' |
Actual Amount | ' | 244,354,000 | 227,214,000 | 244,087,000 | 226,931,000 |
Regulatory Capital Requirement, Amount | ' | 139,689,000 | 121,536,000 | 139,674,000 | 121,506,000 |
Well Capitalized Under Prompt Corrective Action Provisions, Amount | ' | ' | ' | 174,593,000 | 151,883,000 |
Total Bank Capital to Risk Weighted Assets, Ratios [Abstract] | ' | ' | ' | ' | ' |
Actual Ratio (in hundredths) | ' | 13.99% | 14.96% | 13.98% | 14.94% |
Regulatory Capital Requirement Ratio (in hundredths) | ' | 8.00% | 8.00% | 8.00% | 8.00% |
Well Capitalized Under Prompt Corrective Action Ratio (in hundredths) | ' | ' | ' | 10.00% | 10.00% |
Tier 1 Capital to Risk Weighted Assets [Abstract] | ' | ' | ' | ' | ' |
Actual Amount | ' | 222,372,000 | 208,034,000 | 222,108,000 | 207,756,000 |
Regulatory Capital Requirement, Amount | ' | 69,845,000 | 60,768,000 | 69,837,000 | 60,753,000 |
Well Capitalized Under Prompt Corrective Action Provisions, Amount | ' | ' | ' | 104,756,000 | 91,130,000 |
Tier 1 Capital to Risk Weighted Assets Ratio [Abstract] | ' | ' | ' | ' | ' |
Actual Ratio (in hundredths) | ' | 12.74% | 13.69% | 12.72% | 13.68% |
Regulatory Capital Requirement Ratio (in hundredths) | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Well Capitalized Under Prompt Corrective Action Provisions Ratio (in hundredths) | ' | ' | ' | 6.00% | 6.00% |
Tier 1 Capital to Average Assets [Abstract] | ' | ' | ' | ' | ' |
Actual Amount | ' | 222,372,000 | 208,034,000 | 222,108,000 | 207,756,000 |
Regulatory Capital Requirement, Amount | ' | 80,755,000 | 76,605,000 | 80,633,000 | 76,493,000 |
Well Capitalized Under Prompt Corrective Action Provisions, Amount | ' | ' | ' | $100,791,000 | $95,616,000 |
Tier 1 Capital to Average Assets Ratios [Abstract] | ' | ' | ' | ' | ' |
Actual Ratio (in hundredths) | ' | 11.01% | 10.86% | 11.02% | 10.86% |
Regulatory Capital Requirement Ratio (in hundredths) | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Well Capitalized Under Prompt Corrective Action Provisions Ratio (in hundredths) | ' | ' | ' | 5.00% | 5.00% |
Dividends_and_Basic_Earnings_P2
Dividends and Basic Earnings Per Common Share (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ' | ' |
Cash dividends | $9,723 | $9,418 | $9,158 |
Cash dividends per share of common stock (in dollars per share) | $12.50 | $12.10 | $11.75 |
Percentage increase in cash dividend per share (in hundredths) | 3.30% | ' | ' |
Earnings per share for the period [Abstract] | ' | ' | ' |
Net Income | $24,061 | $23,349 | $22,209 |
Average Number of Common Shares Outstanding (in shares) | 777,882 | 778,648 | 779,424 |
Basic Earnings Per Common Share (in dollars per share) | $30.93 | $29.99 | $28.49 |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Contribution | |||
Profit Sharing Plan [Abstract] | ' | ' | ' |
Requisite service period | '1 year | ' | ' |
Number of annual employer contribution | 2 | ' | ' |
Employer discretionary contribution amount | $825,000 | $800,000 | $775,000 |
Employer mandatory contributions amount | 952,000 | 941,000 | 868,000 |
Annual vesting percentage, first year (in hundredths) | 0.00% | ' | ' |
Annual vesting percentage, full year thereafter (in hundredths) | 25.00% | ' | ' |
Vesting percentage after five years (in hundredths) | 100.00% | ' | ' |
Executive Retirement Plan and Life Insurance Arrangements [Abstract] | ' | ' | ' |
Vesting schedule for the Non-Qualified Executive Retirement Plan - Performance Component (in hundredths) | 50.00% | ' | ' |
Vesting schedule for the Non-Qualified Executive Retirement Plan - Salary Component | '5 years | ' | ' |
Vesting schedule for the Non-Qualified Executive Retirement Plan - Equity Component (in hundredths) | 50.00% | ' | ' |
Employer contributions to Non-Qualified Executive Retirement Plan | 2,700,000 | 2,600,000 | 2,300,000 |
Accrued benefit liability under Non-Qualified Executive Retirement Plan | 24,100,000 | 19,300,000 | ' |
Tax-exempt interest on the life insurance policies | 1,856,000 | 1,836,000 | 1,834,000 |
Cash surrender value of life insurance policies | 52,100,000 | 50,300,000 | ' |
Senior Management Retention Plan [Abstract] | ' | ' | ' |
Vesting Percentage (in hundredths) | 50.00% | ' | ' |
Contribution to the Senior Management Retention Plan | $536,000 | $206,000 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Available-for-Sale Securities: [Abstract] | ' | ' |
Fair/Book Value, Total | $404,639,000 | $417,991,000 |
Impaired Loans [Abstract] | ' | ' |
Percentage of selling costs reduced in sales comparison approach (in hundredths) | 10.00% | ' |
Transfers out of Level 3 | 5,600,000 | ' |
Residential 1st Mortgages [Member] | Sales Comparison Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 614,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 614,000 | ' |
Valuation Technique | 'Sales Comparison Approach | ' |
Unobservable Inputs | 'Adjustment for Difference Between Comparable Sales | ' |
Residential 1st Mortgages [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 1.00% | ' |
Residential 1st Mortgages [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 35.00% | ' |
Residential 1st Mortgages [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 22.00% | ' |
Home Equity Lines and Loans [Member] | Sales Comparison Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 551,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 551,000 | ' |
Valuation Technique | 'Sales Comparison Approach | ' |
Unobservable Inputs | 'Adjustment for Difference Between Comparable Sales | ' |
Home Equity Lines and Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 2.00% | ' |
Home Equity Lines and Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 34.00% | ' |
Home Equity Lines and Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 11.00% | ' |
Agricultural [Member] | Income Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 366,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 366,000 | ' |
Valuation Technique | 'Income Approach | ' |
Unobservable Inputs | 'Capitalization Rate | ' |
Agricultural [Member] | Minimum [Member] | Income Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 14.00% | ' |
Agricultural [Member] | Maximum [Member] | Income Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 14.00% | ' |
Agricultural [Member] | Weighted Average [Member] | Income Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 14.00% | ' |
Commercial [Member] | Sales Comparison Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 820,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 820,000 | ' |
Valuation Technique | 'Sales Comparison Approach | ' |
Unobservable Inputs | 'Adjustment for Difference Between Comparable Sales | ' |
Commercial [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 15.00% | ' |
Commercial [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 15.00% | ' |
Commercial [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 15.00% | ' |
Real Estate Construction [Member] | Sales Comparison Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 2,399,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 2,399,000 | ' |
Valuation Technique | 'Sales Comparison Approach | ' |
Unobservable Inputs | 'Adjustment for Difference Between Comparable Sales | ' |
Real Estate Construction [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Real Estate Construction [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Real Estate Construction [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Agricultural Real Estate [Member] | Sales Comparison Approach [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 2,212,000 | ' |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 2,212,000 | ' |
Valuation Technique | 'Sales Comparison Approach | ' |
Unobservable Inputs | 'Adjustment for Difference Between Comparable Sales | ' |
Agricultural Real Estate [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Agricultural Real Estate [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Agricultural Real Estate [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ' | ' |
Quantitative Information [Abstract] | ' | ' |
Range, Weighted Avg. (in hundredths) | 10.00% | ' |
Recurring [Member] | Fair Value [Member] | ' | ' |
Available-for-Sale Securities: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 28,436,000 | 26,823,000 |
Obligations of States and Political Subdivisions | ' | 5,665,000 |
Mortgage Backed Securities | 324,929,000 | 352,772,000 |
Corporate Securities | 49,380,000 | 22,558,000 |
Other | 1,894,000 | 10,173,000 |
Fair/Book Value, Total | 404,639,000 | 417,991,000 |
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Available-for-Sale Securities: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 23,394,000 | 21,731,000 |
Obligations of States and Political Subdivisions | ' | 0 |
Mortgage Backed Securities | 0 | 0 |
Corporate Securities | 8,191,000 | 4,020,000 |
Other | 1,584,000 | 9,863,000 |
Fair/Book Value, Total | 33,169,000 | 35,614,000 |
Recurring [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' |
Available-for-Sale Securities: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 5,042,000 | 5,092,000 |
Obligations of States and Political Subdivisions | ' | 0 |
Mortgage Backed Securities | 324,929,000 | 352,772,000 |
Corporate Securities | 41,189,000 | 18,538,000 |
Other | 310,000 | 310,000 |
Fair/Book Value, Total | 371,470,000 | 376,712,000 |
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Available-for-Sale Securities: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 0 |
Obligations of States and Political Subdivisions | ' | 5,665,000 |
Mortgage Backed Securities | 0 | 0 |
Corporate Securities | 0 | 0 |
Other | 0 | 0 |
Fair/Book Value, Total | 0 | 5,665,000 |
Changes in level 3 assets measured at fair value on a recurring basis [Roll Forward] | ' | ' |
Balance at Beginning of Period | 5,665,000 | 5,782,000 |
Total Realized and Unrealized Gains/(Losses) Included in Income | 0 | 0 |
Total Unrealized Gains/(Losses) Included in Other Comprehensive Income | 0 | 0 |
Purchase of Securities | 0 | 0 |
Sales, Maturities, and Calls of Securities | -84,000 | -117,000 |
Net Transfers out of Available for Sale Securities | -5,581,000 | 0 |
Balance at End of Period | 0 | 5,665,000 |
Nonrecurring [Member] | Fair Value [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Residential 1st Mortgage | 614,000 | 235,000 |
Home Equity Lines and Loans | 551,000 | 462,000 |
Agricultural | 366,000 | 1,010,000 |
Commercial | 820,000 | ' |
Total Impaired Loans | 2,351,000 | 1,707,000 |
Real Estate Construction | 2,399,000 | 2,553,000 |
Agricultural Real Estate | 2,212,000 | ' |
Total Other Real Estate | 4,611,000 | 2,553,000 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 6,962,000 | 4,260,000 |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 6,962,000 | 4,260,000 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Residential 1st Mortgage | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 |
Agricultural | 0 | 0 |
Commercial | 0 | ' |
Total Impaired Loans | 0 | 0 |
Real Estate Construction | 0 | 0 |
Agricultural Real Estate | 0 | ' |
Total Other Real Estate | 0 | 0 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 0 | 0 |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 0 | 0 |
Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Residential 1st Mortgage | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 |
Agricultural | 0 | 0 |
Commercial | 0 | ' |
Total Impaired Loans | 0 | 0 |
Real Estate Construction | 0 | 0 |
Agricultural Real Estate | 0 | ' |
Total Other Real Estate | 0 | 0 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 0 | 0 |
Quantitative Information [Abstract] | ' | ' |
Fair Value | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Impaired Loans [Abstract] | ' | ' |
Residential 1st Mortgage | 614,000 | 235,000 |
Home Equity Lines and Loans | 551,000 | 462,000 |
Agricultural | 366,000 | 1,010,000 |
Commercial | 820,000 | ' |
Total Impaired Loans | 2,351,000 | 1,707,000 |
Real Estate Construction | 2,399,000 | 2,553,000 |
Agricultural Real Estate | 2,212,000 | ' |
Total Other Real Estate | 4,611,000 | 2,553,000 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 6,962,000 | 4,260,000 |
Quantitative Information [Abstract] | ' | ' |
Fair Value | $6,962,000 | $4,260,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-Sale: [Abstract] | ' | ' |
Fair/Book Value, Total | $404,639 | $417,991 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Fair Value | 68,690 | ' |
Carrying Amount [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and Cash Equivalents | 83,677 | 129,426 |
Available-for-Sale: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 28,436 | 26,823 |
Obligations of States and Political Subdivisions | ' | 5,665 |
Mortgage Backed Securities | 324,929 | 352,772 |
Corporate Securities | 49,380 | 22,558 |
Other | 1,894 | 10,173 |
Fair/Book Value, Total | 404,639 | 417,991 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Obligations of States and Political Subdivisions | 65,685 | 65,694 |
Mortgage Backed Securities | 45 | 484 |
Other | 2,775 | 2,214 |
Fair Value | 68,505 | 68,392 |
FHLB Stock | 7,187 | 7,368 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' |
Commercial Real Estate | 402,336 | 344,084 |
Agricultural Real Estate | 324,688 | 309,115 |
Real Estate Construction | 40,438 | 31,694 |
Residential 1st Mortgages | 150,184 | 139,038 |
Home Equity Lines and Loans | 32,710 | 38,807 |
Agricultural | 244,209 | 210,595 |
Commercial | 144,701 | 135,330 |
Consumer & Other | 4,876 | 4,876 |
Leases | 12,094 | ' |
Unallocated Allowance | -2,274 | -854 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,353,962 | 1,212,685 |
Accrued Interest Receivable | 6,941 | 6,389 |
Deposits [Abstract] | ' | ' |
Demand | 495,963 | 462,251 |
Interest Bearing Transaction | 291,795 | 259,141 |
Savings and Money Market | 589,511 | 541,526 |
Time | 430,422 | 459,108 |
Total Deposits | 1,807,691 | 1,722,026 |
Subordinated Debentures | 10,310 | 10,310 |
Accrued Interest Payable | 352 | 498 |
Estimated Fair Value [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and Cash Equivalents | 83,677 | 129,426 |
Available-for-Sale: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 28,436 | 26,823 |
Obligations of States and Political Subdivisions | ' | 5,665 |
Mortgage Backed Securities | 324,929 | 352,772 |
Corporate Securities | 49,380 | 22,558 |
Other | 1,894 | 10,173 |
Fair/Book Value, Total | 404,639 | 417,991 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Obligations of States and Political Subdivisions | 65,870 | 67,987 |
Mortgage Backed Securities | 45 | 496 |
Other | 2,775 | 2,214 |
Fair Value | 68,690 | 70,697 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' |
Commercial Real Estate | 403,790 | 349,524 |
Agricultural Real Estate | 328,704 | 316,302 |
Real Estate Construction | 40,800 | 32,024 |
Residential 1st Mortgages | 153,352 | 144,203 |
Home Equity Lines and Loans | 35,250 | 41,419 |
Agricultural | 242,950 | 209,578 |
Commercial | 145,131 | 134,647 |
Consumer & Other | 4,912 | 4,847 |
Leases | 11,851 | ' |
Unallocated Allowance | -2,274 | -854 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,364,466 | 1,231,690 |
Accrued Interest Receivable | 6,941 | 6,389 |
Deposits [Abstract] | ' | ' |
Demand | 495,963 | 462,251 |
Interest Bearing Transaction | 291,795 | 259,141 |
Savings and Money Market | 589,511 | 541,526 |
Time | 430,752 | 459,993 |
Total Deposits | 1,808,021 | 1,722,911 |
Subordinated Debentures | 6,224 | 5,750 |
Accrued Interest Payable | 352 | 498 |
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and Cash Equivalents | 83,677 | 129,426 |
Available-for-Sale: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 23,394 | 21,731 |
Obligations of States and Political Subdivisions | ' | 0 |
Mortgage Backed Securities | 0 | 0 |
Corporate Securities | 8,191 | 4,020 |
Other | 1,584 | 9,863 |
Fair/Book Value, Total | 33,169 | 35,614 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Obligations of States and Political Subdivisions | 0 | 0 |
Mortgage Backed Securities | 0 | 0 |
Other | 0 | 0 |
Fair Value | 0 | 0 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' |
Commercial Real Estate | 0 | 0 |
Agricultural Real Estate | 0 | 0 |
Real Estate Construction | 0 | 0 |
Residential 1st Mortgages | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 |
Agricultural | 0 | 0 |
Commercial | 0 | 0 |
Consumer & Other | 0 | 0 |
Leases | 0 | ' |
Unallocated Allowance | 0 | 0 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 0 | 0 |
Accrued Interest Receivable | 0 | 0 |
Deposits [Abstract] | ' | ' |
Demand | 495,963 | 462,251 |
Interest Bearing Transaction | 291,795 | 259,141 |
Savings and Money Market | 589,511 | 541,526 |
Time | 0 | 0 |
Total Deposits | 1,377,269 | 1,262,918 |
Subordinated Debentures | 0 | 0 |
Accrued Interest Payable | 0 | 0 |
Estimated Fair Value [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and Cash Equivalents | 0 | 0 |
Available-for-Sale: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 5,042 | 5,092 |
Obligations of States and Political Subdivisions | ' | 0 |
Mortgage Backed Securities | 324,929 | 352,772 |
Corporate Securities | 41,189 | 18,538 |
Other | 310 | 310 |
Fair/Book Value, Total | 371,470 | 376,712 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Obligations of States and Political Subdivisions | 51,563 | 60,177 |
Mortgage Backed Securities | 45 | 496 |
Other | 2,775 | 2,214 |
Fair Value | 54,383 | 62,887 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' |
Commercial Real Estate | 0 | 0 |
Agricultural Real Estate | 0 | 0 |
Real Estate Construction | 0 | 0 |
Residential 1st Mortgages | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 |
Agricultural | 0 | 0 |
Commercial | 0 | 0 |
Consumer & Other | 0 | 0 |
Leases | 0 | ' |
Unallocated Allowance | 0 | 0 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 0 | 0 |
Accrued Interest Receivable | 6,941 | 0 |
Deposits [Abstract] | ' | ' |
Demand | 0 | 0 |
Interest Bearing Transaction | 0 | 0 |
Savings and Money Market | 0 | 0 |
Time | 430,752 | 459,993 |
Total Deposits | 430,752 | 459,993 |
Subordinated Debentures | 6,224 | 5,750 |
Accrued Interest Payable | 352 | 498 |
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and Cash Equivalents | 0 | 0 |
Available-for-Sale: [Abstract] | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 0 |
Obligations of States and Political Subdivisions | ' | 5,665 |
Mortgage Backed Securities | 0 | 0 |
Corporate Securities | 0 | 0 |
Other | 0 | 0 |
Fair/Book Value, Total | 0 | 5,665 |
Investment Securities Held-to-Maturity: [Abstract] | ' | ' |
Obligations of States and Political Subdivisions | 14,307 | 7,810 |
Mortgage Backed Securities | 0 | 0 |
Other | 0 | 0 |
Fair Value | 14,307 | 7,810 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' |
Commercial Real Estate | 403,790 | 349,524 |
Agricultural Real Estate | 328,704 | 316,302 |
Real Estate Construction | 40,800 | 32,024 |
Residential 1st Mortgages | 153,352 | 144,203 |
Home Equity Lines and Loans | 35,250 | 41,419 |
Agricultural | 242,950 | 209,578 |
Commercial | 145,131 | 134,647 |
Consumer & Other | 4,912 | 4,847 |
Leases | 11,851 | ' |
Unallocated Allowance | -2,274 | -854 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,364,466 | 1,231,690 |
Accrued Interest Receivable | 0 | 6,389 |
Deposits [Abstract] | ' | ' |
Demand | 0 | 0 |
Interest Bearing Transaction | 0 | 0 |
Savings and Money Market | 0 | 0 |
Time | 0 | 0 |
Total Deposits | 0 | 0 |
Subordinated Debentures | 0 | 0 |
Accrued Interest Payable | $0 | $0 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments to Extend Credit [Member] | Commitments to Extend Credit [Member] | Letters of Credit [Member] | Letters of Credit [Member] | Letters of Credit [Member] | Letters of Credit [Member] | Performance Guarantees Under Interest Rate Swap Contracts Entered Into Between Our Borrowing Customers and Third Parties [Member] | Performance Guarantees Under Interest Rate Swap Contracts Entered Into Between Our Borrowing Customers and Third Parties [Member] | ||
Minimum [Member] | Maximum [Member] | ||||||||
Off-balance sheet risks [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Off-balance sheet risks, amount, liability | ' | $445,294,000 | $334,772,000 | $7,393,000 | $5,281,000 | ' | ' | $0 | $1,796,000 |
Off balance sheet risks maturity period | ' | ' | ' | ' | ' | '1 month | '58 months | ' | ' |
Minimum future rental commitments under noncancellable operating leases [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | 341,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | 344,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | 187,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | 87,000 | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | $77,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Parent_Company_Financial_Infor2
Parent Company Financial Information (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Condensed Balance Sheets [Abstract] | ' | ' | ' | ' |
Investment Securities | $473,144 | $486,383 | ' | ' |
Other Assets | 90,294 | 73,038 | ' | ' |
Total Assets | 2,076,073 | 1,974,686 | ' | ' |
Subordinated Debentures | 10,310 | 10,310 | ' | ' |
Liabilities | 1,866,169 | 1,769,653 | ' | ' |
Shareholders' Equity | 209,904 | 205,033 | 189,346 | 173,241 |
Total Liabilities and Shareholders' Equity | 2,076,073 | 1,974,686 | ' | ' |
Condensed Statements of Income [Abstract] | ' | ' | ' | ' |
Interest Income | 73,640 | 73,351 | 74,380 | ' |
Tax Benefit | -14,221 | -13,985 | -12,642 | ' |
Net Income | 24,061 | 23,349 | 22,209 | ' |
Cash Flows from Operating Activities [Abstract] | ' | ' | ' | ' |
Net Income | 24,061 | 23,349 | 22,209 | ' |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: [Abstract] | ' | ' | ' | ' |
Net (Increase) Decrease in Other Assets | 3,719 | 434 | 2,750 | ' |
Net Cash Provided by Operating Activities | 27,199 | 31,723 | 30,360 | ' |
Investing Activities [Abstract] | ' | ' | ' | ' |
Securities Purchased | -221,745 | -143,295 | -296,852 | ' |
Securities Sold or Matured | 208,962 | 205,374 | 249,930 | ' |
Net Cash Used by Investing Activities | -148,890 | -29,262 | -39,835 | ' |
Financing Activities [Abstract] | ' | ' | ' | ' |
Stock Repurchases | 0 | -576 | 0 | ' |
Cash Dividends | -9,723 | -9,418 | -9,158 | ' |
Net Cash Provided by Financing Activities | 75,942 | 25,305 | 50,475 | ' |
(Decrease) Increase in Cash and Cash Equivalents | -45,749 | 27,766 | 41,000 | ' |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Balance Sheets [Abstract] | ' | ' | ' | ' |
Cash | 416 | 212 | 398 | ' |
Investment in Farmers & Merchants Bank of Central California | 219,640 | 214,755 | ' | ' |
Investment Securities | 410 | 410 | ' | ' |
Other Assets | 87 | 267 | ' | ' |
Total Assets | 220,553 | 215,644 | ' | ' |
Subordinated Debentures | 10,310 | 10,310 | ' | ' |
Liabilities | 339 | 301 | ' | ' |
Shareholders' Equity | 209,904 | 205,033 | ' | ' |
Total Liabilities and Shareholders' Equity | 220,553 | 215,644 | ' | ' |
Condensed Statements of Income [Abstract] | ' | ' | ' | ' |
Equity in Undistributed Earnings in Farmers & Merchants Bank of Central California | 14,352 | 13,247 | 12,715 | ' |
Dividends from Subsidiary | 10,450 | 10,900 | 10,325 | ' |
Interest Income | 10 | 10 | 10 | ' |
Other Expenses, Net | -1,288 | -1,386 | -1,443 | ' |
Tax Benefit | 537 | 578 | 602 | ' |
Net Income | 24,061 | 23,349 | 22,209 | ' |
Cash Flows from Operating Activities [Abstract] | ' | ' | ' | ' |
Net Income | 24,061 | 23,349 | 22,209 | ' |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: [Abstract] | ' | ' | ' | ' |
Equity in Undistributed Net Earnings from Subsidiary | -14,352 | -13,247 | -12,715 | ' |
Net (Increase) Decrease in Other Assets | 38 | -216 | -3 | ' |
Net (Decrease) Increase in Liabilities | 180 | -78 | 56 | ' |
Net Cash Provided by Operating Activities | 9,927 | 9,808 | 9,547 | ' |
Investing Activities [Abstract] | ' | ' | ' | ' |
Securities Purchased | 0 | 0 | -1,296 | ' |
Securities Sold or Matured | 0 | 0 | 1,196 | ' |
Net Cash Used by Investing Activities | 0 | 0 | -100 | ' |
Financing Activities [Abstract] | ' | ' | ' | ' |
Stock Repurchases | 0 | -576 | 0 | ' |
Cash Dividends | -9,723 | -9,418 | -9,158 | ' |
Net Cash Provided by Financing Activities | -9,723 | -9,994 | -9,158 | ' |
(Decrease) Increase in Cash and Cash Equivalents | 204 | -186 | 289 | ' |
Cash and Cash Equivalents at Beginning of Year | 212 | 398 | 109 | ' |
Cash and Cash Equivalents at End of Year | $416 | $212 | $398 | ' |