Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
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 Common Stock, Shares Outstanding | ' | 777,882 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Cash and Cash Equivalents: | ' | ' | ' |
Cash and Due From Banks | $34,293 | $40,966 | $46,234 |
Interest Bearing Deposits with Banks | 4,923 | 42,711 | 1,391 |
Total Cash and Cash Equivalents | 39,216 | 83,677 | 47,625 |
Investment Securities: | ' | ' | ' |
Available-for-Sale | 336,526 | 404,639 | 421,765 |
Held-to-Maturity | 69,441 | 68,505 | 70,961 |
Total Investment Securities | 405,967 | 473,144 | 492,726 |
Loans & Leases | 1,615,771 | 1,388,236 | 1,297,811 |
Less: Allowance for Credit Losses | 34,267 | 34,274 | 34,111 |
Loans & Leases, Net | 1,581,504 | 1,353,962 | 1,263,700 |
Premises and Equipment, Net | 24,927 | 22,887 | 21,814 |
Bank Owned Life Insurance | 53,514 | 52,109 | 51,652 |
Interest Receivable and Other Assets | 92,541 | 90,294 | 87,259 |
Total Assets | 2,197,669 | 2,076,073 | 1,964,776 |
Deposits: | ' | ' | ' |
Demand | 516,093 | 495,963 | 435,778 |
Interest Bearing Transaction | 326,368 | 291,795 | 257,650 |
Savings and Money Market | 614,137 | 589,511 | 561,277 |
Time | 419,615 | 430,422 | 439,081 |
Total Deposits | 1,876,213 | 1,807,691 | 1,693,786 |
Federal Home Loan Bank Advances | 36,000 | 0 | 5,900 |
Subordinated Debentures | 10,310 | 10,310 | 10,310 |
Interest Payable and Other Liabilities | 47,910 | 48,168 | 43,739 |
Total Liabilities | 1,970,433 | 1,866,169 | 1,753,735 |
Shareholders' Equity | ' | ' | ' |
Preferred Stock: No Par Value, 1,000,000 Shares Authorized, None Issued or Outstanding | 0 | 0 | 0 |
Common Stock: Par Value $0.01, 7,500,000 Shares Authorized, 777,882 Shares Issued and Outstanding at September 30, 2014, December 31, 2013 and September 30, 2013, respectively | 8 | 8 | 8 |
Additional Paid-In Capital | 75,014 | 75,014 | 75,014 |
Retained Earnings | 151,268 | 137,350 | 136,357 |
Accumulated Other Comprehensive Income (Loss) | 946 | -2,468 | -338 |
Total Shareholders' Equity | 227,236 | 209,904 | 211,041 |
Total Liabilities and Shareholders' Equity | $2,197,669 | $2,076,073 | $1,964,776 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
Shareholders' Equity | ' | ' | ' |
Preferred Stock, par value (in dollars per share) | $0 | $0 | $0 |
Preferred Stock, authorized (in shares) | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred Stock, issued (in shares) | 0 | 0 | 0 |
Preferred Stock, outstanding (in shares) | 0 | 0 | 0 |
Common Stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
Common Stock, authorized (in shares) | 7,500,000 | 7,500,000 | 7,500,000 |
Common Stock, issued (in shares) | 777,882 | 777,882 | 777,882 |
Common Stock, outstanding (in shares) | 777,882 | 777,882 | 777,882 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest Income | ' | ' | ' | ' |
Interest and Fees on Loans & Leases | $18,166 | $16,679 | $51,178 | $48,030 |
Interest on Deposits with Banks | 5 | 2 | 110 | 49 |
Interest on Investment Securities: | ' | ' | ' | ' |
Taxable | 1,849 | 2,297 | 6,073 | 6,785 |
Exempt from Federal Tax | 594 | 637 | 1,758 | 1,951 |
Total Interest Income | 20,614 | 19,615 | 59,119 | 56,815 |
Interest Expense | ' | ' | ' | ' |
Deposits | 621 | 632 | 1,819 | 1,943 |
Borrowed Funds | 5 | 7 | 5 | 16 |
Subordinated Debentures | 82 | 82 | 242 | 245 |
Total Interest Expense | 708 | 721 | 2,066 | 2,204 |
Net Interest Income | 19,906 | 18,894 | 57,053 | 54,611 |
Provision for Credit Losses | 0 | 0 | 0 | 250 |
Net Interest Income After Provision for Credit Losses | 19,906 | 18,894 | 57,053 | 54,361 |
Non-Interest Income | ' | ' | ' | ' |
Service Charges on Deposit Accounts | 1,022 | 1,139 | 2,944 | 3,312 |
Net Gain (Loss) on Sale of Investment Securities | 4 | -1,137 | 38 | -248 |
Increase in Cash Surrender Value of Life Insurance | 477 | 473 | 1,405 | 1,399 |
Debit Card and ATM Fees | 797 | 774 | 2,322 | 2,295 |
Net (Loss) Gain on Deferred Compensation Investments | -37 | 875 | 1,493 | 2,279 |
Other | 657 | 1,324 | 1,823 | 2,872 |
Total Non-Interest Income | 2,920 | 3,448 | 10,025 | 11,909 |
Non-Interest Expense | ' | ' | ' | ' |
Salaries and Employee Benefits | 9,336 | 8,244 | 26,710 | 25,184 |
Net (Loss) Gain on Deferred Compensation Investments | -37 | 875 | 1,493 | 2,279 |
Occupancy | 724 | 649 | 1,981 | 1,899 |
Equipment | 714 | 705 | 2,117 | 2,078 |
FDIC Insurance | 264 | 246 | 778 | 732 |
Other | 1,541 | 1,466 | 4,137 | 5,074 |
Total Non-Interest Expense | 12,542 | 12,185 | 37,216 | 37,246 |
Income Before Income Taxes | 10,284 | 10,157 | 29,862 | 29,024 |
Provision for Income Taxes | 3,852 | 3,805 | 11,044 | 10,856 |
Net Income | $6,432 | $6,352 | $18,818 | $18,168 |
Basic Earnings Per Common Share (in dollars per share) | $8.27 | $8.17 | $24.19 | $23.36 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract] | ' | ' | ' | ' |
Net Income | $6,432 | $6,352 | $18,818 | $18,168 |
Other Comprehensive Income (Loss) | ' | ' | ' | ' |
(Decrease) Increase in Net Unrealized (Losses) Gains on Available-for-Sale Securities | -1,752 | 1,681 | 5,929 | -12,907 |
Reclassification Adjustment for Realized (Gains) Losses on Available-for-Sale Securities Included in Net Income | -4 | 1,137 | -38 | 248 |
Deferred Tax Benefit (Expense) | 738 | -1,185 | -2,477 | 5,322 |
Change in Net Unrealized (Losses) Gains on Available-for-Sale Securities, Net of Tax | -1,018 | 1,633 | 3,414 | -7,337 |
Total Other Comprehensive (Loss) Income | -1,018 | 1,633 | 3,414 | -7,337 |
Comprehensive Income | $5,414 | $7,985 | $22,232 | $10,831 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), Net [Member] | Total |
In Thousands, except Share data, unless otherwise specified | |||||
Balance at Dec. 31, 2012 | $8 | $75,014 | $123,012 | $6,999 | $205,033 |
Balance (in shares) at Dec. 31, 2012 | 777,882 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income | 0 | 0 | 18,168 | 0 | 18,168 |
Cash Dividends Declared on Common Stock | 0 | 0 | -4,823 | 0 | -4,823 |
Change in Net Unrealized Loss on Securities Available for Sale, Net of Tax | 0 | 0 | 0 | -7,337 | -7,337 |
Balance at Sep. 30, 2013 | 8 | 75,014 | 136,357 | -338 | 211,041 |
Balance (in shares) at Sep. 30, 2013 | 777,882 | ' | ' | ' | 777,882 |
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 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net Income | 0 | 0 | 18,818 | 0 | 18,818 |
Cash Dividends Declared on Common Stock | 0 | 0 | -4,900 | 0 | -4,900 |
Change in Net Unrealized Loss on Securities Available for Sale, Net of Tax | 0 | 0 | 0 | 3,414 | 3,414 |
Balance at Sep. 30, 2014 | $8 | $75,014 | $151,268 | $946 | $227,236 |
Balance (in shares) at Sep. 30, 2014 | 777,882 | ' | ' | ' | 777,882 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' |
Cash Dividends Per Share of Common Stock (in dollars per share) | $6.30 | $6.20 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities: | ' | ' |
Net Income | $18,818 | $18,168 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' |
Provision for Credit Losses | 0 | 250 |
Depreciation and Amortization | 991 | 1,152 |
Net Amortization of Investment Security Premiums & Discounts | 1,249 | 2,543 |
Net (Gain) Loss on Sale of Investment Securities | -38 | 248 |
Net Gain on Sale of Property & Equipment | -15 | -705 |
Net Change in Operating Assets & Liabilities: | ' | ' |
Net Increase in Interest Receivable and Other Assets | -5,984 | -10,253 |
Net (Decrease) Increase in Interest Payable and Other Liabilities | -258 | 6,422 |
Net Cash Provided by Operating Activities | 14,763 | 17,825 |
Investing Activities: | ' | ' |
Purchase of Investment Securities Available-for-Sale | -65,637 | -221,100 |
Proceeds from Sold, Matured or Called Securities Available-for-Sale | 138,298 | 195,339 |
Purchase of Investment Securities Held-to-Maturity | -15,660 | -355 |
Proceeds from Matured or Called Securities Held-to-Maturity | 14,711 | 4,278 |
Net Loans & Leases Paid, Originated or Acquired | -227,739 | -51,649 |
Principal Collected on Loans & Leases Previously Charged Off | 197 | 384 |
Additions to Premises and Equipment | -3,045 | -187 |
Proceeds from Sale of Property & Equipment | 29 | 827 |
Net Cash Used by Investing Activities | -158,846 | -72,463 |
Financing Activities: | ' | ' |
Net Increase (Decrease) in Deposits | 68,522 | -28,240 |
Net Changes in Other Borrowings | 36,000 | 5,900 |
Cash Dividends | -4,900 | -4,823 |
Net Cash Provided (Used) by Financing Activities | 99,622 | -27,163 |
Decrease in Cash and Cash Equivalents | -44,461 | -81,801 |
Cash and Cash Equivalents at Beginning of Period | 83,677 | 129,426 |
Cash and Cash Equivalents at End of Period | 39,216 | 47,625 |
Supplementary Data | ' | ' |
Loans Transferred to Foreclosed Assets (ORE) | 0 | 3,458 |
Cash Payments Made for Income Taxes | 10,900 | 13,886 |
Interest Paid | $2,103 | $2,346 |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
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 in the United States of America (“U.S. GAAP”) and was formed for the sole purpose of issuing Trust Preferred Securities. | |
The accounting and reporting policies of the Company conform to U.S. GAAP 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. | |
These statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting on Form 10-Q. Accordingly, certain disclosures normally presented in the notes to the annual consolidated financial statements prepared in accordance with U.S. GAAP have been omitted. The Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three-month and nine-month periods ended September 30, 2014 may not necessarily be indicative of future operating results. | |
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. 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. Impaired loans & leases are either: (1) non-accrual loans & leases; or (2) restructured loans & leases that are still accruing interest. Loans or 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) if the Company for economic or legal reasons related to the borrower’s (the term “borrower” is used herein to describe a customer who has entered into either a loan or lease transaction) financial difficulties grants a concession to the borrower that it would not otherwise consider. Restructured loans & leases typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans & leases that are reported as TDRs are considered impaired and measured for impairment as described above. | |
Generally, the Company will not restructure loans or leases for borrowers unless: (1) the existing loan or lease is brought current as to principal and interest payments; and (2) the restructured loan or lease can be underwritten to reasonable underwriting standards. If these standards are not met other actions will be pursued (e.g., foreclosure) to collect outstanding loan or lease amounts. After restructure a determination is made whether the loan or lease will be kept on accrual status based upon the underwriting and historical performance of the restructured credit. | |
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 three primary components: specific reserves related to impaired loans & leases; general reserves for inherent losses related to loans & leases that are not impaired; and an unallocated component that takes into account the imprecision in estimating and allocating allowance balances associated with macro factors. | |
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 that 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. | |
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) equipment 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 assess overall collectability. For smaller balance loans & leases, such as consumer and residential real estate, a credit grade is established at inception, and then updated only when the loan or lease becomes contractually delinquent or when the borrower requests a modification. For larger balance loans, 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: | |
Commercial Real Estate – Commercial real estate mortgage loans are generally considered to possess a higher inherent risk of loss than the Company’s commercial, agricultural and consumer loan types. 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. | |
Real Estate Construction – Real estate construction loans, including land loans, are generally considered to possess a higher inherent risk of loss than the Company’s commercial, agricultural and consumer loan types. 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 – These loans are generally considered to possess a moderate inherent risk of loss because they are shorter-term; typically made to relationship customers; generally underwritten to existing cash flows of operating businesses; and may be collateralized by fixed assets, inventory and/or accounts receivable. 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 – These loans are generally considered to possess a moderate inherent risk of loss since they are typically made to relationship customers and are secured by crop production, livestock and related real estate. These loans are vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |
Leases – Equipment leases are generally considered to possess a moderate inherent risk of loss. As Lessor, the company is subject to both the credit risk of the borrower 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. | |
Residential 1st Mortgages and Home Equity Lines and Loans – These loans are generally considered to possess a low inherent risk of loss, although this is not always true as evidenced by the weakness in residential real estate values over the past five years. 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. 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. | |
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 Federal Reserve Bank (“FRB”), the California Department of Business Oversight (“DBO”) and the Federal Deposit Insurance Corporation (“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 income or 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 Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“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 Unaudited 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 basic earnings per common share. See Note 6. | |
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 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 period ended September 30, 2014, December 31, 2013 or September 30, 2013. | |
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 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 now are such matters that will have a material effect on the financial statements. |
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-14 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 13,220 | $ | 141 | $ | - | $ | 13,361 | |||||||||||||||||
Mortgage Backed Securities (1) | 321,187 | 3,936 | 2,443 | 322,680 | |||||||||||||||||||||
Other | 485 | - | - | 485 | |||||||||||||||||||||
Total | $ | 334,892 | $ | 4,077 | $ | 2,443 | $ | 336,526 | |||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-13 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,404 | $ | 239 | $ | - | $ | 28,643 | |||||||||||||||||
Mortgage Backed Securities (1) | 342,963 | 4,928 | 5,814 | 342,077 | |||||||||||||||||||||
Corporate Securities | 49,696 | 250 | 185 | 49,761 | |||||||||||||||||||||
Other | 1,284 | - | - | 1,284 | |||||||||||||||||||||
Total | $ | 422,347 | $ | 5,417 | $ | 5,999 | $ | 421,765 | |||||||||||||||||
(1) All Mortgage Backed Securities consist of securities collateralized by residential real estate and were issued by an agency or government sponsored entity of the U.S. government. | |||||||||||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-14 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 67,206 | $ | 725 | $ | 17 | $ | 67,914 | |||||||||||||||||
Other | 2,235 | - | - | 2,235 | |||||||||||||||||||||
Total | $ | 69,441 | $ | 725 | $ | 17 | $ | 70,149 | |||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-13 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 67,717 | $ | 965 | $ | 741 | $ | 67,941 | |||||||||||||||||
Mortgage Backed Securities (1) | 121 | 1 | - | 122 | |||||||||||||||||||||
Other | 3,123 | - | - | 3,123 | |||||||||||||||||||||
Total | $ | 70,961 | $ | 966 | $ | 741 | $ | 71,186 | |||||||||||||||||
(1) All Mortgage Backed Securities consist of securities collateralized by residential real estate and were issued by an agency or government sponsored entity of the U.S. government. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
In June 2014, the Company sold $375,000 of municipal bonds from a single issuer. The Company took this action under the provisions of ASC 320-10-25-6(a), which allow for the sale of HTM securities where there is “evidence of a significant deterioration in the issuer’s creditworthiness.” The resulting income statement impact was not material. | |||||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities at September 30, 2014 by contractual maturity are shown in the following tables (in thousands): | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Fair/Book | Book | Fair | ||||||||||||||||||||||
30-Sep-14 | Cost | Value | Value | Value | |||||||||||||||||||||
Within one year | $ | 10,473 | $ | 10,496 | $ | 4,115 | $ | 4,117 | |||||||||||||||||
After one year through five years | 3,232 | 3,350 | 17,518 | 17,814 | |||||||||||||||||||||
After five years through ten years | - | - | 13,440 | 13,589 | |||||||||||||||||||||
After ten years | - | - | 34,368 | 34,629 | |||||||||||||||||||||
13,705 | 13,846 | 69,441 | 70,149 | ||||||||||||||||||||||
Investment securities not due at a single maturity date: | |||||||||||||||||||||||||
Mortgage-backed securities | 321,187 | 322,680 | - | - | |||||||||||||||||||||
Total | $ | 334,892 | $ | 336,526 | $ | 69,441 | $ | 70,149 | |||||||||||||||||
Expected maturities of mortgage backed securities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without 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 | ||||||||||||||||||||
30-Sep-14 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 62,825 | $ | 240 | $ | 64,968 | $ | 2,203 | 127,793 | $ | 2,443 | ||||||||||||||
Total | $ | 62,825 | $ | 240 | $ | 64,968 | $ | 2,203 | $ | 127,793 | $ | 2,443 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 1,943 | $ | 11 | $ | 2,556 | $ | 6 | $ | 4,499 | $ | 17 | |||||||||||||
Total | $ | 1,943 | $ | 11 | $ | 2,556 | $ | 6 | $ | 4,499 | $ | 17 | |||||||||||||
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 | ||||||||||||||||||||
30-Sep-13 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 129,198 | $ | 5,814 | $ | - | $ | - | $ | 129,198 | $ | 5,814 | |||||||||||||
Corporate Securities | 19,881 | 185 | - | - | 19,881 | 185 | |||||||||||||||||||
Total | $ | 149,079 | $ | 5,999 | $ | - | $ | - | $ | 149,079 | $ | 5,999 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 9,411 | $ | 741 | $ | - | $ | - | $ | 9,411 | $ | 741 | |||||||||||||
Total | $ | 9,411 | $ | 741 | $ | - | $ | - | $ | 9,411 | $ | 741 | |||||||||||||
As of September 30, 2014, the Company held 280 investment securities of which 15 were in a loss position for less than twelve months. 12 securities were in a 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 September 30, 2014, December 31, 2013 and September 30, 2013. | |||||||||||||||||||||||||
Mortgage Backed Securities - The unrealized losses on the Company's investment in mortgage backed securities were $2.4 million, $7.6 million, and $5.8 million at September 30, 2014, December 31, 2013, and September 30, 2013, 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 September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions - The financial problems experienced by certain municipalities over the past five years, 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 September 30, 2014, over ninety-six percent of the Company’s bank-qualified municipal bond portfolio is rated at either the issue or issuer level, and all of these ratings are “investment grade.” The Company monitors the status of the four 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. In June 2014, the Company sold $375,000 of municipal bonds from a single issuer. The Company took this action under the provisions of ASC 320-10-25-6(a), which allow for the sale of HTM securities where there is “evidence of a significant deterioration in the issuer’s creditworthiness.” The resulting income statement impact was not material. | |||||||||||||||||||||||||
The unrealized losses on the Company’s investment in obligation of states and political subdivision were $17,000, $627,000, and $741,000 at September 30, 2014, December 31, 2013 and September 30, 2013, respectively. Management believes that any unrealized losses on the Company's investments in obligations of states and political subdivisions were primarily 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 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 September 30, 2014, December 31, 2013 and September 30, 2013, respectively. | |||||||||||||||||||||||||
Corporate Securities – The Company did not hold any corporate securities at September 30, 2014. The unrealized losses on the Company’s investment in corporate securities at December 31, 2013, and September 30, 2013, were $147,000, and $185,000, respectively. 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 did not consider these investments to be other-than-temporarily impaired at December 31, 2013 and September 30, 2013, respectively. | |||||||||||||||||||||||||
Proceeds from sales and calls of securities were as follows: | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Proceeds | $ | 85,433 | $ | 28,297 | $ | 95,349 | $ | 77,912 | |||||||||||||||||
Gains | 811 | 285 | 845 | 1,189 | |||||||||||||||||||||
Losses | 807 | 1,422 | 807 | 1,437 | |||||||||||||||||||||
Pledged Securities | |||||||||||||||||||||||||
As of September 30, 2014, securities carried at $360.0 million were pledged to secure public deposits, Federal Home Loan Bank (“FHLB”) borrowings, and other government agency deposits as required by law. This amount was $334.8 million at December 31, 2013, and $310.5 million at September 30, 2013. |
Loans_Leases_and_Allowance_for
Loans & Leases and Allowance for Credit Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases and Allowance for Credit Losses [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases and Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||||||||||||||||||
3. Loans & Leases and Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show the allocation of the allowance for credit losses by portfolio segment and by impairment methodology at the dates indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Agricultural | Real Estate | Residential 1st | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2014 | $ | 5,178 | $ | 3,576 | $ | 654 | $ | 1,108 | $ | 2,767 | $ | 12,205 | $ | 5,697 | $ | 176 | $ | 639 | $ | 2,274 | $ | 34,274 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (58 | ) | (70 | ) | - | - | (76 | ) | - | - | (204 | ) | ||||||||||||||||||||||||||||||
Recoveries | 12 | - | - | - | 54 | 3 | 83 | 45 | - | - | 197 | ||||||||||||||||||||||||||||||||||
Provision | 2,608 | 370 | 1,026 | 92 | (76 | ) | (6,426 | ) | 2,135 | 76 | 1,206 | (1,011 | ) | - | |||||||||||||||||||||||||||||||
Ending Balance- September 30, 2014 | $ | 7,798 | $ | 3,946 | $ | 1,680 | $ | 1,142 | $ | 2,675 | $ | 5,782 | $ | 7,915 | $ | 221 | $ | 1,845 | $ | 1,263 | $ | 34,267 | |||||||||||||||||||||||
Third Quarter Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- July 1, 2014 | $ | 6,991 | $ | 3,677 | $ | 1,290 | $ | 1,094 | $ | 2,737 | $ | 8,291 | $ | 7,377 | $ | 193 | $ | 1,108 | $ | 1,532 | $ | 34,290 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (25 | ) | (5 | ) | - | - | (31 | ) | - | - | (61 | ) | ||||||||||||||||||||||||||||||
Recoveries | 12 | - | - | - | 3 | 1 | 6 | 16 | - | - | 38 | ||||||||||||||||||||||||||||||||||
Provision | 795 | 269 | 390 | 73 | (60 | ) | (2,510 | ) | 532 | 43 | 737 | (269 | ) | - | |||||||||||||||||||||||||||||||
Ending Balance- September 30, 2014 | $ | 7,798 | $ | 3,946 | $ | 1,680 | $ | 1,142 | $ | 2,675 | $ | 5,782 | $ | 7,915 | $ | 221 | $ | 1,845 | $ | 1,263 | $ | 34,267 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 190 | - | 239 | 370 | 328 | 120 | 912 | 42 | - | - | 2,201 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 7,608 | 3,946 | 1,441 | 772 | 2,347 | 5,662 | 7,003 | 179 | 1,845 | 1,263 | 32,066 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 473,505 | $ | 364,161 | $ | 104,463 | $ | 168,310 | $ | 33,283 | $ | 237,521 | $ | 192,804 | $ | 4,816 | $ | 36,908 | $ | - | $ | 1,615,771 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 20,175 | - | 4,419 | 1,847 | 1,658 | 518 | 4,877 | 42 | - | - | 33,536 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 453,330 | 364,161 | 100,044 | 166,463 | 31,625 | 237,003 | 187,927 | 4,774 | 36,908 | - | 1,582,235 | ||||||||||||||||||||||||||||||||||
31-Dec-13 | Commercial | Agricultural | Real Estate | Residential | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | 1st Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Agricultural | Real Estate | Residential | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | 1st Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
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 | ) | (23 | ) | (23 | ) | (4 | ) | (93 | ) | - | - | (740 | ) | ||||||||||||||||||||||||||
Recoveries | - | - | - | - | 30 | 36 | 281 | 37 | - | - | 384 | ||||||||||||||||||||||||||||||||||
Provision | (382 | ) | 911 | (48 | ) | (130 | ) | (492 | ) | (1,190 | ) | 1,551 | 42 | - | (12 | ) | 250 | ||||||||||||||||||||||||||||
Ending Balance- September 30, 2013 | $ | 6,076 | $ | 3,213 | $ | 938 | $ | 1,073 | $ | 2,750 | $ | 9,260 | $ | 9,791 | $ | 168 | $ | - | $ | 842 | $ | 34,111 | |||||||||||||||||||||||
Third Quarter Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- July 1, 2013 | $ | 5,732 | $ | 3,481 | $ | 977 | $ | 1,037 | $ | 2,984 | $ | 10,557 | $ | 9,075 | $ | 168 | $ | - | $ | 224 | $ | 34,235 | |||||||||||||||||||||||
Charge-Offs | (6 | ) | (175 | ) | - | - | (1 | ) | - | - | (29 | ) | - | - | (211 | ) | |||||||||||||||||||||||||||||
Recoveries | - | - | - | - | 10 | 16 | 45 | 16 | - | - | 87 | ||||||||||||||||||||||||||||||||||
Provision | 350 | (93 | ) | (39 | ) | 36 | (243 | ) | (1,313 | ) | 671 | 13 | - | 618 | - | ||||||||||||||||||||||||||||||
Ending Balance- September 30, 2013 | $ | 6,076 | $ | 3,213 | $ | 938 | $ | 1,073 | $ | 2,750 | $ | 9,260 | $ | 9,791 | $ | 168 | $ | - | $ | 842 | $ | 34,111 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 788 | - | 229 | 75 | 147 | 126 | 1,858 | 53 | - | - | 3,276 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,288 | 3,213 | 709 | 998 | 2,603 | 9,134 | 7,933 | 115 | - | 842 | 30,835 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 401,626 | $ | 311,401 | $ | 27,099 | $ | 143,577 | $ | 37,160 | $ | 221,569 | $ | 145,793 | $ | 5,063 | $ | 4,523 | $ | - | $ | 1,297,811 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,467 | 849 | 4,527 | 1,962 | 1,125 | 738 | 2,192 | 53 | - | - | 33,913 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 379,159 | 310,552 | 22,572 | 141,615 | 36,035 | 220,831 | 143,601 | 5,010 | 4,523 | - | 1,263,898 | ||||||||||||||||||||||||||||||||||
The ending balance of loans individually evaluated for impairment includes restructured loans in the amount of $26.6 million at September 30, 2014, $28.4 million at December 31, 2013 and $28.7 million at September 30, 2013, 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 the dates indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | & Leases | ||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 464,714 | $ | 8,683 | $ | 108 | $ | 473,505 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 364,161 | - | - | 364,161 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 102,831 | 1,632 | - | 104,463 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 166,884 | 752 | 674 | 168,310 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 32,309 | 88 | 886 | 33,283 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 236,760 | 695 | 66 | 237,521 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 168,215 | 22,929 | 1,660 | 192,804 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,520 | - | 296 | 4,816 | |||||||||||||||||||||||||||||||||||||||||
Leases | 36,908 | - | - | 36,908 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,577,302 | $ | 34,779 | $ | 3,690 | $ | 1,615,771 | |||||||||||||||||||||||||||||||||||||
31-Dec-13 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | & 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 | |||||||||||||||||||||||||||||||||||||
30-Sep-13 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 389,137 | $ | 7,765 | $ | 4,724 | $ | 401,626 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 307,736 | 2,497 | 1,168 | 311,401 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 25,467 | 1,632 | - | 27,099 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 142,036 | 780 | 761 | 143,577 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 36,090 | - | 1,070 | 37,160 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 220,504 | 464 | 601 | 221,569 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 135,303 | 8,958 | 1,532 | 145,793 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,761 | - | 302 | 5,063 | |||||||||||||||||||||||||||||||||||||||||
Leases | 4,523 | - | - | 4,523 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,265,557 | $ | 22,096 | $ | 10,158 | $ | 1,297,811 | |||||||||||||||||||||||||||||||||||||
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 or leases outstanding at September 30, 2014, December 31, 2013, and September 30, 2013 rated doubtful or loss. | |||||||||||||||||||||||||||||||||||||||||||||
The following tables show an aging analysis of the loan & lease portfolio by the time past due at the dates indicated | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 473,505 | $ | 473,505 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | - | - | 364,161 | 364,161 | ||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | 104,463 | 104,463 | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 283 | 283 | 168,027 | 168,310 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 92 | - | - | 575 | 667 | 32,616 | 33,283 | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 25 | 25 | 237,496 | 237,521 | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,600 | 1,600 | 191,204 | 192,804 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 12 | - | - | 14 | 26 | 4,790 | 4,816 | ||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | - | 36,908 | 36,908 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 104 | $ | - | $ | - | $ | 2,497 | $ | 2,601 | $ | 1,613,170 | $ | 1,615,771 | |||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
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 | $ | 1,399 | $ | 52 | $ | - | $ | 2,596 | $ | 4,047 | $ | 1,384,189 | $ | 1,388,236 | |||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 592 | $ | - | $ | - | $ | 176 | $ | 768 | $ | 400,858 | $ | 401,626 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 849 | 849 | 310,552 | 311,401 | ||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | 27,099 | 27,099 | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 455 | 455 | 143,122 | 143,577 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | 121 | - | 243 | 364 | 36,796 | 37,160 | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 99 | 99 | 221,470 | 221,569 | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,944 | 1,944 | 143,849 | 145,793 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 14 | 94 | - | 17 | 125 | 4,938 | 5,063 | ||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | - | 4,523 | 4,523 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 606 | $ | 215 | $ | - | $ | 3,783 | $ | 4,604 | $ | 1,293,207 | $ | 1,297,811 | |||||||||||||||||||||||||||||||
The following tables show information related to impaired loans & leases for the periods indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 49 | $ | - | $ | 82 | $ | 4 | |||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | - | - | 226 | - | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 14 | - | 26 | - | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,575 | - | 2,740 | 54 | ||||||||||||||||||||||||||||||||||||||
$ | - | $ | - | $ | - | $ | 1,638 | $ | - | $ | 3,074 | $ | 58 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 94 | $ | 94 | $ | 2 | $ | 47 | $ | 2 | $ | 16 | $ | 2 | |||||||||||||||||||||||||||||||
Residential 1st Mortgages | 658 | 771 | 131 | 550 | 1 | 522 | 3 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 955 | 1,008 | 191 | 934 | 3 | 710 | 6 | ||||||||||||||||||||||||||||||||||||||
Agricultural | 483 | 493 | 119 | 478 | 7 | 477 | 21 | ||||||||||||||||||||||||||||||||||||||
Commercial | 4,744 | 4,801 | 908 | 3,179 | 27 | 2,144 | 27 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 43 | 47 | 43 | 44 | 1 | 47 | 2 | ||||||||||||||||||||||||||||||||||||||
$ | 6,977 | $ | 7,214 | $ | 1,394 | $ | 5,232 | $ | 41 | $ | 3,916 | $ | 61 | ||||||||||||||||||||||||||||||||
Total | $ | 6,977 | $ | 7,214 | $ | 1,394 | $ | 6,870 | $ | 41 | $ | 6,990 | $ | 119 | |||||||||||||||||||||||||||||||
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 | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 450 | 11 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and Loans | - | - | - | 228 | 5 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 35 | 43 | - | 586 | - | ||||||||||||||||||||||||||||||||||||||||
Commercial | 3,474 | 3,532 | - | 939 | 13 | ||||||||||||||||||||||||||||||||||||||||
$ | 3,611 | $ | 3,676 | $ | - | $ | 5,253 | $ | 37 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 823 | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 769 | 826 | 154 | 254 | 6 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and 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 | |||||||||||||||||||||||||||||||||||
Three Months Ended Sept. 30, 2013 | Nine Months Ended Sept. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 279 | $ | 299 | $ | - | $ | 1,626 | $ | 2 | $ | 953 | $ | 6 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | 850 | 1,173 | - | 2,616 | - | 3,777 | - | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 535 | 588 | - | 533 | 4 | 643 | 11 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 287 | 306 | - | 331 | 3 | 379 | 5 | ||||||||||||||||||||||||||||||||||||||
Agricultural | 99 | 121 | - | 278 | - | 1,239 | - | ||||||||||||||||||||||||||||||||||||||
Commercial | 85 | 85 | - | 89 | 2 | 99 | 6 | ||||||||||||||||||||||||||||||||||||||
$ | 2,135 | $ | 2,572 | $ | - | $ | 5,473 | $ | 11 | $ | 7,090 | $ | 28 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 4 | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 725 | - | 1,221 | - | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 246 | 246 | 50 | 123 | - | 27 | - | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 243 | 290 | 132 | 243 | - | 195 | - | ||||||||||||||||||||||||||||||||||||||
Agricultural | 488 | 488 | 122 | 766 | 8 | 1,562 | 24 | ||||||||||||||||||||||||||||||||||||||
Commercial | 2,084 | 2,095 | 1,856 | 1,251 | 2 | 436 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 53 | 56 | 53 | 55 | 1 | 185 | 3 | ||||||||||||||||||||||||||||||||||||||
$ | 3,114 | $ | 3,175 | $ | 2,213 | $ | 3,167 | $ | 11 | $ | 3,628 | $ | 33 | ||||||||||||||||||||||||||||||||
Total | $ | 5,249 | $ | 5,747 | $ | 2,213 | $ | 8,640 | $ | 22 | $ | 10,718 | $ | 61 | |||||||||||||||||||||||||||||||
Total recorded investment shown in the prior tables will not equal the total ending balance of loans & leases individually evaluated for impairment on the allocation of allowance tables. 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 September 30, 2014, the Company allocated $1.3 million of specific reserves to $6.4 million of troubled debt restructured loans, of which $4.5 million were performing. The Company had no commitments at September 30, 2014 to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. | |||||||||||||||||||||||||||||||||||||||||||||
During the three and nine month periods ending September 30, 2014, 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 ranging from 5 years to 30 years. Modifications involving an extension of the maturity date were for periods ranging from 5 years to 30 years. | |||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class, modified as troubled debt restructured loans & leases for the three and nine-month periods ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | |||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Outstanding | Loans | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||
Investment | Recorded | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
Investment | |||||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 1 | $ | 248 | $ | 222 | 4 | $ | 565 | $ | 528 | |||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 1 | 51 | 47 | 3 | 98 | 89 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 1 | 32 | 32 | |||||||||||||||||||||||||||||||||||||||
Total | 2 | $ | 299 | $ | 269 | 8 | $ | 695 | $ | 649 | |||||||||||||||||||||||||||||||||||
The TDRs described above increased the allowance for credit losses by $51,000 and $50,000 and resulted in charge-offs of $30,000 and $46,000 for the three and nine-month period ending September 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||||
During the three and nine-months ended September 30, 2014, there were no payment defaults on loans or leases modified as troubled debt restructurings within twelve months following the modification The Company considers a loan or lease to be in payment default once it is greater than 90 days contractually past due under the modified terms. | |||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2013, the Company allocated $1.2 million of specific reserves to $6.8 million of troubled debt restructured loans or leases, of which $4.6 million were performing. The Company had no commitments at December 31, 2013, to lend additional amounts to customers with outstanding loans or leases that are classified as troubled debt restructurings. | |||||||||||||||||||||||||||||||||||||||||||||
During the twelve-month period ending December 31, 2013, the terms of certain loans or leases 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; 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 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 or leases by class modified as troubled debt restructured loans during the twelve-month period ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | ||||||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Recorded | |||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 4 | $ | 306 | $ | 290 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and Loans | 4 | 414 | 387 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | 4 | 5,016 | 5,016 | ||||||||||||||||||||||||||||||||||||||||||
Total | 12 | $ | 5,736 | $ | 5,693 | ||||||||||||||||||||||||||||||||||||||||
The TDRs described above did not increase the allowance for credit losses but did result in charge-offs of $43,000 during the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
During the twelve-month period ended 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. | |||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013, the Company allocated $364,000 of specific reserves to $2.0 million of troubled debt restructured loans, of which $1.5 million were performing. The Company had no commitments at September 30, 2013 to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. | |||||||||||||||||||||||||||||||||||||||||||||
During the three and nine month periods ending September 30, 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 & leases for the three and nine-month periods ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | |||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Recorded | Loans | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | $ | - | $ | - | 4 | $ | 306 | $ | 290 | |||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | 2 | 195 | 184 | |||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 2 | 292 | 292 | |||||||||||||||||||||||||||||||||||||||
Total | - | $ | - | $ | - | 8 | $ | 793 | $ | 766 | |||||||||||||||||||||||||||||||||||
The TDRs described above increased the allowance for credit losses by $0 and $4,000 and resulted in charge-offs of $0 and $27,000 for the three and nine-month period ending September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013, there was one commercial loan with an outstanding balance of $277,000 that was previously modified as a troubled debt restructuring within the previous 12 months that subsequently defaulted during the nine months ended September 30, 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 September 30, 2013. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
4. Fair Value Measurements | |||||||||||||||||
The Company follows the “Fair Value Measurement and Disclosures” topic, 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 “Receivables” topic. The fair value of impaired loans & leases is estimated using one of several methods, including collateral value when the loan & lease is collateral dependent, market value of similar debt, enterprise value, and discounted cash flows. Those 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. When the fair value of the collateral is based on an observable market price or a current appraised value which uses observable data, the Company records the impaired loan or lease as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value or the appraised value contains a significant unobservable assumption, and there is no observable market price, the Company records the impaired loan or lease as nonrecurring Level 3. | |||||||||||||||||
Other Real Estate (“ORE”) is reported at fair value on a non-recurring basis. When the fair value of the ORE is based on an observable market price or a current appraised value which uses observable data, the Company records the ORE as nonrecurring Level 2. Otherwise, the Company records the ORE as nonrecurring Level 3. Other Real Estate is reported in Interest Receivable and Other Assets on the Company’s Consolidated Balance Sheets. | |||||||||||||||||
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 September 30, 2014, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 13,361 | $ | 13,361 | $ | - | $ | - | |||||||||
Mortgage Backed Securities | 322,680 | 39,566 | 283,114 | - | |||||||||||||
Other | 485 | 175 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 336,526 | $ | 53,102 | $ | 283,424 | $ | - | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(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 September 30, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,643 | $ | 23,587 | $ | 5,056 | $ | - | |||||||||
Mortgage Backed Securities | 342,077 | - | 342,077 | - | |||||||||||||
Corporate Securities | 49,761 | 8,171 | 41,590 | - | |||||||||||||
Other | 1,284 | 974 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 421,765 | $ | 32,732 | $ | 389,033 | $ | - | |||||||||
Fair values for Level 2 available-for-sale investment securities are based on quoted market prices for similar securities. During the three and nine-months ended September 30, 2014, there were no transfers in or out of level 1, 2, or 3. During the three and nine-months ended September 30, 2013, $5.6 million were transferred out of level 3 available-for-sale investment securities into held-to-maturity investment securities. The following table presents changes in level 3 assets measured at fair value on a recurring basis. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at Beginning of Period | $ | - | $ | 5,612 | $ | - | $ | 5,665 | |||||||||
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 | - | (31 | ) | - | (84 | ) | |||||||||||
Net Transfers out of Available for Sale Securities | - | (5,581 | ) | - | (5,581 | ) | |||||||||||
Balance at End of Period | $ | - | $ | - | $ | - | $ | - | |||||||||
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. Due to the difficulty in valuing the senior housing authority bonds and the fact that the Company owns 100% of these bonds that were issued by a relationship banking customer, we transferred these bonds out of the available-for-sale category and into the held-to-maturity category as the Company intends to hold these bonds until maturity. | |||||||||||||||||
The following tables present information about the Company’s impaired loans & leases and other real estate, 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 September 30, 2014, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Commercial Real Estate | $ | 92 | $ | - | $ | - | $ | 92 | |||||||||
Residential 1st Mortgages | 526 | - | - | 526 | |||||||||||||
Home Equity Lines and Loans | 763 | - | - | 763 | |||||||||||||
Agricultural | 363 | - | - | 363 | |||||||||||||
Commercial | 3,836 | - | - | 3,836 | |||||||||||||
Total Impaired Loans | 5,580 | - | - | 5,580 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,441 | - | - | 2,441 | |||||||||||||
Agricultural Real Estate | 858 | - | - | 858 | |||||||||||||
Total Other Real Estate | 3,299 | - | - | 3,299 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 8,879 | $ | - | $ | - | $ | 8,879 | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgages | $ | 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 September 30, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgages | $ | 477 | $ | - | $ | - | $ | 477 | |||||||||
Home Equity Lines and Loans | 293 | - | - | 293 | |||||||||||||
Agricultural | 366 | - | - | 366 | |||||||||||||
Commercial | 228 | - | - | 228 | |||||||||||||
Total Impaired Loans | 1,364 | - | - | 1,364 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,398 | - | - | 2,398 | |||||||||||||
Agricultural Real Estate | 1,268 | - | - | 1,268 | |||||||||||||
Total Other Real Estate | 3,666 | - | - | 3,666 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 5,030 | $ | - | $ | - | $ | 5,030 | |||||||||
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 September 30, 2014: | |||||||||||||||||
(in thousands) | Fair Value | Valuation Technique | Unobservable Inputs | Range, Weighted Avg. | |||||||||||||
Impaired Loans | |||||||||||||||||
Commercial Real Estate | $ | 92 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -1%, 1 | % | |||||||||||
Residential 1st Mortgages | $ | 526 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 11% -24%, 17 | % | |||||||||||
Home Equity Lines and Loans | $ | 763 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% - 14%, 11 | % | |||||||||||
Agricultural | $ | 343 | Income Approach | Capitalization Rate | 14% - 14%, 14 | % | |||||||||||
Agricultural | $ | 20 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -1%, 1 | % | |||||||||||
Commercial | $ | 3,836 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% - 13%, 4 | % | |||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | $ | 2,441 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % | |||||||||||
Agricultural Real Estate | $ | 858 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||
5. 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 | |||||||||||||||||||||
30-Sep-14 | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
(in thousands) | Amount | in Active | Observable | Unobservable | Estimated | ||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 39,216 | $ | 39,216 | $ | - | $ | - | $ | 39,216 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 13,361 | 13,361 | - | - | 13,361 | ||||||||||||||||
Mortgage Backed Securities | 322,680 | 39,566 | 283,114 | - | 322,680 | ||||||||||||||||
Other | 485 | 175 | 310 | - | 485 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 336,526 | 53,102 | 283,424 | - | 336,526 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 67,206 | - | 54,375 | 13,539 | 67,914 | ||||||||||||||||
Other | 2,235 | - | 2,235 | - | 2,235 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 69,441 | - | 56,610 | 13,539 | 70,149 | ||||||||||||||||
FHLB Stock | 7,677 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 465,707 | - | - | 462,469 | 462,469 | ||||||||||||||||
Agricultural Real Estate | 360,215 | - | - | 360,976 | 360,976 | ||||||||||||||||
Real Estate Construction | 102,783 | - | - | 103,095 | 103,095 | ||||||||||||||||
Residential 1st Mortgages | 167,168 | - | - | 169,971 | 169,971 | ||||||||||||||||
Home Equity Lines and Loans | 30,608 | - | - | 32,601 | 32,601 | ||||||||||||||||
Agricultural | 231,739 | - | - | 230,572 | 230,572 | ||||||||||||||||
Commercial | 184,889 | - | - | 184,466 | 184,466 | ||||||||||||||||
Consumer & Other | 4,595 | - | - | 4,619 | 4,619 | ||||||||||||||||
Leases | 35,063 | 33,519 | 33,519 | ||||||||||||||||||
Unallocated Allowance | (1,263 | ) | - | - | (1,263 | ) | (1,263 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,581,504 | - | - | 1,581,025 | 1,581,025 | ||||||||||||||||
Accrued Interest Receivable | 8,986 | - | 8,986 | - | 8,986 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 516,093 | 516,093 | - | - | 516,093 | ||||||||||||||||
Interest Bearing Transaction | 326,368 | 326,368 | - | - | 326,368 | ||||||||||||||||
Savings and Money Market | 614,137 | 614,137 | - | - | 614,137 | ||||||||||||||||
Time | 419,615 | - | 419,663 | - | 419,663 | ||||||||||||||||
Total Deposits | 1,876,213 | 1,456,598 | 419,663 | - | 1,876,261 | ||||||||||||||||
FHLB Advances | 36,000 | - | 36,000 | - | 36,000 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 6,227 | - | 6,227 | ||||||||||||||||
Accrued Interest Payable | 314 | - | 314 | - | 314 | ||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
December 31, 2013 (in thousands) | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
Amount | in Active | Observable | Unobservable | Estimated | |||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
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 | |||||||||||||||||||||
September 30, 2013 (in thousands) | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
Amount | in Active | Observable | Unobservable | Estimated | |||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 47,625 | $ | 47,625 | $ | - | $ | - | $ | 47,625 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 28,643 | 23,587 | 5,056 | - | 28,643 | ||||||||||||||||
Mortgage Backed Securities | 342,077 | - | 342,077 | - | 342,077 | ||||||||||||||||
Corporate Securities | 49,761 | 8,171 | 41,590 | - | 49,761 | ||||||||||||||||
Other | 1,284 | 974 | 310 | - | 1,284 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 421,765 | 32,732 | 389,033 | - | 421,765 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 67,717 | - | 55,188 | 12,753 | 67,941 | ||||||||||||||||
Mortgage Backed Securities | 121 | - | 122 | - | 122 | ||||||||||||||||
Other | 3,123 | - | 3,123 | - | 3,123 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 70,961 | - | 58,433 | 12,753 | 71,186 | ||||||||||||||||
FHLB Stock | 7,187 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 395,550 | - | - | 399,792 | 399,792 | ||||||||||||||||
Agricultural Real Estate | 308,188 | - | - | 313,920 | 313,920 | ||||||||||||||||
Real Estate Construction | 26,161 | - | - | 26,437 | 26,437 | ||||||||||||||||
Residential 1st Mortgages | 142,504 | - | - | 145,778 | 145,778 | ||||||||||||||||
Home Equity Lines and Loans | 34,410 | - | - | 36,988 | 36,988 | ||||||||||||||||
Agricultural | 212,309 | - | - | 211,418 | 211,418 | ||||||||||||||||
Commercial | 136,002 | - | - | 137,033 | 137,033 | ||||||||||||||||
Consumer & Other | 4,895 | - | - | 4,945 | 4,945 | ||||||||||||||||
Leases | 4,523 | - | - | 4,523 | 4,523 | ||||||||||||||||
Unallocated Allowance | (842 | ) | - | - | (842 | ) | (842 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,263,700 | - | - | 1,279,992 | 1,279,992 | ||||||||||||||||
Accrued Interest Receivable | 8,214 | - | 8,214 | - | 8,214 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 435,778 | 435,778 | - | - | 435,778 | ||||||||||||||||
Interest Bearing Transaction | 257,650 | 257,650 | - | - | 257,650 | ||||||||||||||||
Savings and Money Market | 561,277 | 561,277 | - | - | 561,277 | ||||||||||||||||
Time | 439,081 | - | 439,485 | - | 439,485 | ||||||||||||||||
Total Deposits | 1,693,786 | 1,254,705 | 439,485 | - | 1,694,190 | ||||||||||||||||
FHLB Advances | 5,900 | - | 5,900 | - | 5,900 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 5,665 | - | 5,665 | ||||||||||||||||
Accrued Interest Payable | 357 | - | 357 | - | 357 | ||||||||||||||||
Fair value estimates presented herein are based on pertinent information available to management as of September 30, 2014, December 31, 2013, and September 30, 2013. 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 & leases 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 & leases 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. | |||||||||||||||||||||
FHLB Advances & Securities Sold Under Agreement to Repurchase - The fair value of federal funds purchased and other short-term borrowings are approximated by the book value resulting in a Level 2 classification. The fair value for Federal Home Loan Bank advances is determined using discounted future cash flows 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. |
Dividends_and_Basic_Earnings_P
Dividends and Basic Earnings Per Common Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ||||||||||||||||
Dividends and Basic Earnings Per Common Share | ' | ||||||||||||||||
6. Dividends and Basic Earnings Per Common Share | |||||||||||||||||
Farmers & Merchants Bancorp common stock is not traded on any exchange. The shares are primarily held by local residents and are not actively traded. On May 19, 2014, the Board of Directors of Farmers & Merchants Bancorp announced a mid-year cash dividend of $6.30 per share, a 1.6% increase over the $6.20 per share paid on July 1, 2013. The cash dividend was paid on July 1, 2014, to shareholders of record on June 9, 2014. | |||||||||||||||||
Basic earnings per 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 share for the three and nine months ended September 30, 2014 and 2013. | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended Sept. 30, | Ended Sept. 30, | ||||||||||||||||
(net income in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Income | $ | 6,432 | $ | 6,352 | $ | 18,818 | $ | 18,168 | |||||||||
Weighted Average Number of Common Shares Outstanding | 777,882 | 777,882 | 777,882 | 777,882 | |||||||||||||
Basic Earnings Per Common Share | $ | 8.27 | $ | 8.17 | $ | 24.19 | $ | 23.36 |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
7. Recent Accounting Pronouncements | |
In May, 2014, the FASB has made available Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers: Topic 606. ASU 2014-09 affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company does not anticipate that the adoption of this ASU will have a material impact on the Company’s financial position, results of operation, cash flows, or disclosure. | |
In January, 2014, the FASB issued Accounting Standards Update (ASU) 2014-04 - Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40) - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This Update clarifies when an in-substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The objective of the amendments in this Update is to reduce diversity in practice. An in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not anticipate that the adoption of this ASU will have a material impact on the Company’s financial position, results of operation, cash flows, or disclosure. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
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. | |
These statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting on Form 10-Q. Accordingly, certain disclosures normally presented in the notes to the annual consolidated financial statements prepared in accordance with U.S. GAAP have been omitted. The Company believes that the disclosures are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three-month and nine-month periods ended September 30, 2014 may not necessarily be indicative of future operating results. | |
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. 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. Impaired loans & leases are either: (1) non-accrual loans & leases; or (2) restructured loans & leases that are still accruing interest. Loans or 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) if the Company for economic or legal reasons related to the borrower’s (the term “borrower” is used herein to describe a customer who has entered into either a loan or lease transaction) financial difficulties grants a concession to the borrower that it would not otherwise consider. Restructured loans & leases typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Loans & leases that are reported as TDRs are considered impaired and measured for impairment as described above. | |
Generally, the Company will not restructure loans or leases for borrowers unless: (1) the existing loan or lease is brought current as to principal and interest payments; and (2) the restructured loan or lease can be underwritten to reasonable underwriting standards. If these standards are not met other actions will be pursued (e.g., foreclosure) to collect outstanding loan or lease amounts. After restructure a determination is made whether the loan or lease will be kept on accrual status based upon the underwriting and historical performance of the restructured credit. | |
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 three primary components: specific reserves related to impaired loans & leases; general reserves for inherent losses related to loans & leases that are not impaired; and an unallocated component that takes into account the imprecision in estimating and allocating allowance balances associated with macro factors. | |
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 that 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. | |
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) equipment 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 assess overall collectability. For smaller balance loans & leases, such as consumer and residential real estate, a credit grade is established at inception, and then updated only when the loan or lease becomes contractually delinquent or when the borrower requests a modification. For larger balance loans, 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: | |
Commercial Real Estate – Commercial real estate mortgage loans are generally considered to possess a higher inherent risk of loss than the Company’s commercial, agricultural and consumer loan types. 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. | |
Real Estate Construction – Real estate construction loans, including land loans, are generally considered to possess a higher inherent risk of loss than the Company’s commercial, agricultural and consumer loan types. 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 – These loans are generally considered to possess a moderate inherent risk of loss because they are shorter-term; typically made to relationship customers; generally underwritten to existing cash flows of operating businesses; and may be collateralized by fixed assets, inventory and/or accounts receivable. 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 – These loans are generally considered to possess a moderate inherent risk of loss since they are typically made to relationship customers and are secured by crop production, livestock and related real estate. These loans are vulnerable to two risk factors that are largely outside the control of Company and borrowers: commodity prices and weather conditions. | |
Leases – Equipment leases are generally considered to possess a moderate inherent risk of loss. As Lessor, the company is subject to both the credit risk of the borrower 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. | |
Residential 1st Mortgages and Home Equity Lines and Loans – These loans are generally considered to possess a low inherent risk of loss, although this is not always true as evidenced by the weakness in residential real estate values over the past five years. 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. 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. | |
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 Federal Reserve Bank (“FRB”), the California Department of Business Oversight (“DBO”) and the Federal Deposit Insurance Corporation (“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 income or 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 Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“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 Unaudited 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 basic earnings per common share. See Note 6. | |
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 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 period ended September 30, 2014, December 31, 2013 or September 30, 2013. | |
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 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 now are such matters that will have a material effect on the financial statements. |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
In May, 2014, the FASB has made available Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers: Topic 606. ASU 2014-09 affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company does not anticipate that the adoption of this ASU will have a material impact on the Company’s financial position, results of operation, cash flows, or disclosure. | |
In January, 2014, the FASB issued Accounting Standards Update (ASU) 2014-04 - Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40) - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. This Update clarifies when an in-substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The objective of the amendments in this Update is to reduce diversity in practice. An in-substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not anticipate that the adoption of this ASU will have a material impact on the Company’s financial position, results of operation, cash flows, or disclosure. |
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-14 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 13,220 | $ | 141 | $ | - | $ | 13,361 | |||||||||||||||||
Mortgage Backed Securities (1) | 321,187 | 3,936 | 2,443 | 322,680 | |||||||||||||||||||||
Other | 485 | - | - | 485 | |||||||||||||||||||||
Total | $ | 334,892 | $ | 4,077 | $ | 2,443 | $ | 336,526 | |||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-13 | Cost | Gains | Losses | Value | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,404 | $ | 239 | $ | - | $ | 28,643 | |||||||||||||||||
Mortgage Backed Securities (1) | 342,963 | 4,928 | 5,814 | 342,077 | |||||||||||||||||||||
Corporate Securities | 49,696 | 250 | 185 | 49,761 | |||||||||||||||||||||
Other | 1,284 | - | - | 1,284 | |||||||||||||||||||||
Total | $ | 422,347 | $ | 5,417 | $ | 5,999 | $ | 421,765 | |||||||||||||||||
(1) All Mortgage Backed Securities consist of securities collateralized by residential real estate and 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 | |||||||||||||||||||||||
30-Sep-14 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 67,206 | $ | 725 | $ | 17 | $ | 67,914 | |||||||||||||||||
Other | 2,235 | - | - | 2,235 | |||||||||||||||||||||
Total | $ | 69,441 | $ | 725 | $ | 17 | $ | 70,149 | |||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-13 | Value | Gains | Losses | Value | |||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 67,717 | $ | 965 | $ | 741 | $ | 67,941 | |||||||||||||||||
Mortgage Backed Securities (1) | 121 | 1 | - | 122 | |||||||||||||||||||||
Other | 3,123 | - | - | 3,123 | |||||||||||||||||||||
Total | $ | 70,961 | $ | 966 | $ | 741 | $ | 71,186 | |||||||||||||||||
(1) All Mortgage Backed Securities consist of securities collateralized by residential real estate and 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 September 30, 2014 by contractual maturity are shown in the following tables (in thousands): | |||||||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||||
Amortized | Fair/Book | Book | Fair | ||||||||||||||||||||||
30-Sep-14 | Cost | Value | Value | Value | |||||||||||||||||||||
Within one year | $ | 10,473 | $ | 10,496 | $ | 4,115 | $ | 4,117 | |||||||||||||||||
After one year through five years | 3,232 | 3,350 | 17,518 | 17,814 | |||||||||||||||||||||
After five years through ten years | - | - | 13,440 | 13,589 | |||||||||||||||||||||
After ten years | - | - | 34,368 | 34,629 | |||||||||||||||||||||
13,705 | 13,846 | 69,441 | 70,149 | ||||||||||||||||||||||
Investment securities not due at a single maturity date: | |||||||||||||||||||||||||
Mortgage-backed securities | 321,187 | 322,680 | - | - | |||||||||||||||||||||
Total | $ | 334,892 | $ | 336,526 | $ | 69,441 | $ | 70,149 | |||||||||||||||||
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 | ||||||||||||||||||||
30-Sep-14 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 62,825 | $ | 240 | $ | 64,968 | $ | 2,203 | 127,793 | $ | 2,443 | ||||||||||||||
Total | $ | 62,825 | $ | 240 | $ | 64,968 | $ | 2,203 | $ | 127,793 | $ | 2,443 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 1,943 | $ | 11 | $ | 2,556 | $ | 6 | $ | 4,499 | $ | 17 | |||||||||||||
Total | $ | 1,943 | $ | 11 | $ | 2,556 | $ | 6 | $ | 4,499 | $ | 17 | |||||||||||||
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 | ||||||||||||||||||||
30-Sep-13 | Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
Mortgage Backed Securities | $ | 129,198 | $ | 5,814 | $ | - | $ | - | $ | 129,198 | $ | 5,814 | |||||||||||||
Corporate Securities | 19,881 | 185 | - | - | 19,881 | 185 | |||||||||||||||||||
Total | $ | 149,079 | $ | 5,999 | $ | - | $ | - | $ | 149,079 | $ | 5,999 | |||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
Obligations of States and Political Subdivisions | $ | 9,411 | $ | 741 | $ | - | $ | - | $ | 9,411 | $ | 741 | |||||||||||||
Total | $ | 9,411 | $ | 741 | $ | - | $ | - | $ | 9,411 | $ | 741 | |||||||||||||
Proceeds from sales and calls of securities | ' | ||||||||||||||||||||||||
Proceeds from sales and calls of securities were as follows: | |||||||||||||||||||||||||
Three Months | Nine Months | ||||||||||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Proceeds | $ | 85,433 | $ | 28,297 | $ | 95,349 | $ | 77,912 | |||||||||||||||||
Gains | 811 | 285 | 845 | 1,189 | |||||||||||||||||||||
Losses | 807 | 1,422 | 807 | 1,437 |
Loans_Leases_and_Allowance_for1
Loans & Leases and Allowance for Credit Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases and 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 by portfolio segment and by impairment methodology at the dates indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Agricultural | Real Estate | Residential 1st | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
Year-To-Date Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- January 1, 2014 | $ | 5,178 | $ | 3,576 | $ | 654 | $ | 1,108 | $ | 2,767 | $ | 12,205 | $ | 5,697 | $ | 176 | $ | 639 | $ | 2,274 | $ | 34,274 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (58 | ) | (70 | ) | - | - | (76 | ) | - | - | (204 | ) | ||||||||||||||||||||||||||||||
Recoveries | 12 | - | - | - | 54 | 3 | 83 | 45 | - | - | 197 | ||||||||||||||||||||||||||||||||||
Provision | 2,608 | 370 | 1,026 | 92 | (76 | ) | (6,426 | ) | 2,135 | 76 | 1,206 | (1,011 | ) | - | |||||||||||||||||||||||||||||||
Ending Balance- September 30, 2014 | $ | 7,798 | $ | 3,946 | $ | 1,680 | $ | 1,142 | $ | 2,675 | $ | 5,782 | $ | 7,915 | $ | 221 | $ | 1,845 | $ | 1,263 | $ | 34,267 | |||||||||||||||||||||||
Third Quarter Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- July 1, 2014 | $ | 6,991 | $ | 3,677 | $ | 1,290 | $ | 1,094 | $ | 2,737 | $ | 8,291 | $ | 7,377 | $ | 193 | $ | 1,108 | $ | 1,532 | $ | 34,290 | |||||||||||||||||||||||
Charge-Offs | - | - | - | (25 | ) | (5 | ) | - | - | (31 | ) | - | - | (61 | ) | ||||||||||||||||||||||||||||||
Recoveries | 12 | - | - | - | 3 | 1 | 6 | 16 | - | - | 38 | ||||||||||||||||||||||||||||||||||
Provision | 795 | 269 | 390 | 73 | (60 | ) | (2,510 | ) | 532 | 43 | 737 | (269 | ) | - | |||||||||||||||||||||||||||||||
Ending Balance- September 30, 2014 | $ | 7,798 | $ | 3,946 | $ | 1,680 | $ | 1,142 | $ | 2,675 | $ | 5,782 | $ | 7,915 | $ | 221 | $ | 1,845 | $ | 1,263 | $ | 34,267 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 190 | - | 239 | 370 | 328 | 120 | 912 | 42 | - | - | 2,201 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 7,608 | 3,946 | 1,441 | 772 | 2,347 | 5,662 | 7,003 | 179 | 1,845 | 1,263 | 32,066 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 473,505 | $ | 364,161 | $ | 104,463 | $ | 168,310 | $ | 33,283 | $ | 237,521 | $ | 192,804 | $ | 4,816 | $ | 36,908 | $ | - | $ | 1,615,771 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 20,175 | - | 4,419 | 1,847 | 1,658 | 518 | 4,877 | 42 | - | - | 33,536 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 453,330 | 364,161 | 100,044 | 166,463 | 31,625 | 237,003 | 187,927 | 4,774 | 36,908 | - | 1,582,235 | ||||||||||||||||||||||||||||||||||
31-Dec-13 | Commercial | Agricultural | Real Estate | Residential | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | 1st Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Agricultural | Real Estate | Residential | Home Equity | Agricultural | Commercial | Consumer | Leases | Unallocated | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Construction | 1st Mortgages | Lines & Loans | & Other | ||||||||||||||||||||||||||||||||||||||||
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 | ) | (23 | ) | (23 | ) | (4 | ) | (93 | ) | - | - | (740 | ) | ||||||||||||||||||||||||||
Recoveries | - | - | - | - | 30 | 36 | 281 | 37 | - | - | 384 | ||||||||||||||||||||||||||||||||||
Provision | (382 | ) | 911 | (48 | ) | (130 | ) | (492 | ) | (1,190 | ) | 1,551 | 42 | - | (12 | ) | 250 | ||||||||||||||||||||||||||||
Ending Balance- September 30, 2013 | $ | 6,076 | $ | 3,213 | $ | 938 | $ | 1,073 | $ | 2,750 | $ | 9,260 | $ | 9,791 | $ | 168 | $ | - | $ | 842 | $ | 34,111 | |||||||||||||||||||||||
Third Quarter Allowance for Credit Losses: | |||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance- July 1, 2013 | $ | 5,732 | $ | 3,481 | $ | 977 | $ | 1,037 | $ | 2,984 | $ | 10,557 | $ | 9,075 | $ | 168 | $ | - | $ | 224 | $ | 34,235 | |||||||||||||||||||||||
Charge-Offs | (6 | ) | (175 | ) | - | - | (1 | ) | - | - | (29 | ) | - | - | (211 | ) | |||||||||||||||||||||||||||||
Recoveries | - | - | - | - | 10 | 16 | 45 | 16 | - | - | 87 | ||||||||||||||||||||||||||||||||||
Provision | 350 | (93 | ) | (39 | ) | 36 | (243 | ) | (1,313 | ) | 671 | 13 | - | 618 | - | ||||||||||||||||||||||||||||||
Ending Balance- September 30, 2013 | $ | 6,076 | $ | 3,213 | $ | 938 | $ | 1,073 | $ | 2,750 | $ | 9,260 | $ | 9,791 | $ | 168 | $ | - | $ | 842 | $ | 34,111 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 788 | - | 229 | 75 | 147 | 126 | 1,858 | 53 | - | - | 3,276 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 5,288 | 3,213 | 709 | 998 | 2,603 | 9,134 | 7,933 | 115 | - | 842 | 30,835 | ||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 401,626 | $ | 311,401 | $ | 27,099 | $ | 143,577 | $ | 37,160 | $ | 221,569 | $ | 145,793 | $ | 5,063 | $ | 4,523 | $ | - | $ | 1,297,811 | |||||||||||||||||||||||
Ending Balance Individually Evaluated for Impairment | 22,467 | 849 | 4,527 | 1,962 | 1,125 | 738 | 2,192 | 53 | - | - | 33,913 | ||||||||||||||||||||||||||||||||||
Ending Balance Collectively Evaluated for Impairment | 379,159 | 310,552 | 22,572 | 141,615 | 36,035 | 220,831 | 143,601 | 5,010 | 4,523 | - | 1,263,898 | ||||||||||||||||||||||||||||||||||
Loan & lease portfolio allocated by management's internal risk ratings | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show the loan & lease portfolio allocated by management’s internal risk ratings at the dates indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | & Leases | ||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 464,714 | $ | 8,683 | $ | 108 | $ | 473,505 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 364,161 | - | - | 364,161 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 102,831 | 1,632 | - | 104,463 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 166,884 | 752 | 674 | 168,310 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 32,309 | 88 | 886 | 33,283 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 236,760 | 695 | 66 | 237,521 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 168,215 | 22,929 | 1,660 | 192,804 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,520 | - | 296 | 4,816 | |||||||||||||||||||||||||||||||||||||||||
Leases | 36,908 | - | - | 36,908 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,577,302 | $ | 34,779 | $ | 3,690 | $ | 1,615,771 | |||||||||||||||||||||||||||||||||||||
31-Dec-13 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | & 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 | |||||||||||||||||||||||||||||||||||||
30-Sep-13 | Pass | Special | Substandard | Total Loans | |||||||||||||||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 389,137 | $ | 7,765 | $ | 4,724 | $ | 401,626 | |||||||||||||||||||||||||||||||||||||
Agricultural Real Estate | 307,736 | 2,497 | 1,168 | 311,401 | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | 25,467 | 1,632 | - | 27,099 | |||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 142,036 | 780 | 761 | 143,577 | |||||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 36,090 | - | 1,070 | 37,160 | |||||||||||||||||||||||||||||||||||||||||
Agricultural | 220,504 | 464 | 601 | 221,569 | |||||||||||||||||||||||||||||||||||||||||
Commercial | 135,303 | 8,958 | 1,532 | 145,793 | |||||||||||||||||||||||||||||||||||||||||
Consumer & Other | 4,761 | - | 302 | 5,063 | |||||||||||||||||||||||||||||||||||||||||
Leases | 4,523 | - | - | 4,523 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,265,557 | $ | 22,096 | $ | 10,158 | $ | 1,297,811 | |||||||||||||||||||||||||||||||||||||
Aging analysis of the loan & lease portfolio by the time past due | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show an aging analysis of the loan & lease portfolio by the time past due at the dates indicated | |||||||||||||||||||||||||||||||||||||||||||||
(in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 473,505 | $ | 473,505 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | - | - | 364,161 | 364,161 | ||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | 104,463 | 104,463 | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 283 | 283 | 168,027 | 168,310 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 92 | - | - | 575 | 667 | 32,616 | 33,283 | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 25 | 25 | 237,496 | 237,521 | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,600 | 1,600 | 191,204 | 192,804 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 12 | - | - | 14 | 26 | 4,790 | 4,816 | ||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | - | 36,908 | 36,908 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 104 | $ | - | $ | - | $ | 2,497 | $ | 2,601 | $ | 1,613,170 | $ | 1,615,771 | |||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
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 | $ | 1,399 | $ | 52 | $ | - | $ | 2,596 | $ | 4,047 | $ | 1,384,189 | $ | 1,388,236 | |||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Past Due | Past Due | Still Accruing | Nonaccrual | Due | Current | Loans | ||||||||||||||||||||||||||||||||||||||
Loans & Leases: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 592 | $ | - | $ | - | $ | 176 | $ | 768 | $ | 400,858 | $ | 401,626 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 849 | 849 | 310,552 | 311,401 | ||||||||||||||||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | - | 27,099 | 27,099 | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 455 | 455 | 143,122 | 143,577 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | 121 | - | 243 | 364 | 36,796 | 37,160 | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 99 | 99 | 221,470 | 221,569 | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,944 | 1,944 | 143,849 | 145,793 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 14 | 94 | - | 17 | 125 | 4,938 | 5,063 | ||||||||||||||||||||||||||||||||||||||
Leases | - | - | - | - | - | 4,523 | 4,523 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 606 | $ | 215 | $ | - | $ | 3,783 | $ | 4,604 | $ | 1,293,207 | $ | 1,297,811 | |||||||||||||||||||||||||||||||
Impaired loans & leases | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following tables show information related to impaired loans & leases for the periods indicated (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 49 | $ | - | $ | 82 | $ | 4 | |||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | - | - | 226 | - | ||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 14 | - | 26 | - | ||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 1,575 | - | 2,740 | 54 | ||||||||||||||||||||||||||||||||||||||
$ | - | $ | - | $ | - | $ | 1,638 | $ | - | $ | 3,074 | $ | 58 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 94 | $ | 94 | $ | 2 | $ | 47 | $ | 2 | $ | 16 | $ | 2 | |||||||||||||||||||||||||||||||
Residential 1st Mortgages | 658 | 771 | 131 | 550 | 1 | 522 | 3 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 955 | 1,008 | 191 | 934 | 3 | 710 | 6 | ||||||||||||||||||||||||||||||||||||||
Agricultural | 483 | 493 | 119 | 478 | 7 | 477 | 21 | ||||||||||||||||||||||||||||||||||||||
Commercial | 4,744 | 4,801 | 908 | 3,179 | 27 | 2,144 | 27 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 43 | 47 | 43 | 44 | 1 | 47 | 2 | ||||||||||||||||||||||||||||||||||||||
$ | 6,977 | $ | 7,214 | $ | 1,394 | $ | 5,232 | $ | 41 | $ | 3,916 | $ | 61 | ||||||||||||||||||||||||||||||||
Total | $ | 6,977 | $ | 7,214 | $ | 1,394 | $ | 6,870 | $ | 41 | $ | 6,990 | $ | 119 | |||||||||||||||||||||||||||||||
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 | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | - | - | 450 | 11 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and Loans | - | - | - | 228 | 5 | ||||||||||||||||||||||||||||||||||||||||
Agricultural | 35 | 43 | - | 586 | - | ||||||||||||||||||||||||||||||||||||||||
Commercial | 3,474 | 3,532 | - | 939 | 13 | ||||||||||||||||||||||||||||||||||||||||
$ | 3,611 | $ | 3,676 | $ | - | $ | 5,253 | $ | 37 | ||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 823 | - | ||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 769 | 826 | 154 | 254 | 6 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and 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 | |||||||||||||||||||||||||||||||||||
Three Months Ended Sept. 30, 2013 | Nine Months Ended Sept. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | 279 | $ | 299 | $ | - | $ | 1,626 | $ | 2 | $ | 953 | $ | 6 | |||||||||||||||||||||||||||||||
Agricultural Real Estate | 850 | 1,173 | - | 2,616 | - | 3,777 | - | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 535 | 588 | - | 533 | 4 | 643 | 11 | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 287 | 306 | - | 331 | 3 | 379 | 5 | ||||||||||||||||||||||||||||||||||||||
Agricultural | 99 | 121 | - | 278 | - | 1,239 | - | ||||||||||||||||||||||||||||||||||||||
Commercial | 85 | 85 | - | 89 | 2 | 99 | 6 | ||||||||||||||||||||||||||||||||||||||
$ | 2,135 | $ | 2,572 | $ | - | $ | 5,473 | $ | 11 | $ | 7,090 | $ | 28 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | $ | - | $ | - | $ | - | $ | 4 | $ | - | $ | 2 | $ | - | |||||||||||||||||||||||||||||||
Agricultural Real Estate | - | - | - | 725 | - | 1,221 | - | ||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 246 | 246 | 50 | 123 | - | 27 | - | ||||||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 243 | 290 | 132 | 243 | - | 195 | - | ||||||||||||||||||||||||||||||||||||||
Agricultural | 488 | 488 | 122 | 766 | 8 | 1,562 | 24 | ||||||||||||||||||||||||||||||||||||||
Commercial | 2,084 | 2,095 | 1,856 | 1,251 | 2 | 436 | 6 | ||||||||||||||||||||||||||||||||||||||
Consumer & Other | 53 | 56 | 53 | 55 | 1 | 185 | 3 | ||||||||||||||||||||||||||||||||||||||
$ | 3,114 | $ | 3,175 | $ | 2,213 | $ | 3,167 | $ | 11 | $ | 3,628 | $ | 33 | ||||||||||||||||||||||||||||||||
Total | $ | 5,249 | $ | 5,747 | $ | 2,213 | $ | 8,640 | $ | 22 | $ | 10,718 | $ | 61 | |||||||||||||||||||||||||||||||
Loans & leases by class modified as troubled debt restructured loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans by class, modified as troubled debt restructured loans & leases for the three and nine-month periods ended September 30, 2014 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2014 | Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | |||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Outstanding | Loans | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||
Investment | Recorded | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
Investment | |||||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 1 | $ | 248 | $ | 222 | 4 | $ | 565 | $ | 528 | |||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | 1 | 51 | 47 | 3 | 98 | 89 | |||||||||||||||||||||||||||||||||||||||
Agricultural | - | - | - | 1 | 32 | 32 | |||||||||||||||||||||||||||||||||||||||
Total | 2 | $ | 299 | $ | 269 | 8 | $ | 695 | $ | 649 | |||||||||||||||||||||||||||||||||||
The following table presents loans or leases by class modified as troubled debt restructured loans during the twelve-month period ended December 31, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | ||||||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Recorded | |||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | 4 | $ | 306 | $ | 290 | ||||||||||||||||||||||||||||||||||||||||
Home Equity Lines and 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 & leases for the three and nine-month periods ended September 30, 2013 (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | Number of | Pre-Modification Outstanding | Post-Modification Outstanding | |||||||||||||||||||||||||||||||||||||||
Loans | Recorded | Recorded | Loans | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||
Residential 1st Mortgages | - | $ | - | $ | - | 4 | $ | 306 | $ | 290 | |||||||||||||||||||||||||||||||||||
Home Equity Lines & Loans | - | - | - | 2 | 195 | 184 | |||||||||||||||||||||||||||||||||||||||
Commercial | - | - | - | 2 | 292 | 292 | |||||||||||||||||||||||||||||||||||||||
Total | - | $ | - | $ | - | 8 | $ | 793 | $ | 766 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
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 September 30, 2014, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 13,361 | $ | 13,361 | $ | - | $ | - | |||||||||
Mortgage Backed Securities | 322,680 | 39,566 | 283,114 | - | |||||||||||||
Other | 485 | 175 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 336,526 | $ | 53,102 | $ | 283,424 | $ | - | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(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 September 30, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Available-for-Sale Securities: | |||||||||||||||||
Government Agency & Government-Sponsored Entities | $ | 28,643 | $ | 23,587 | $ | 5,056 | $ | - | |||||||||
Mortgage Backed Securities | 342,077 | - | 342,077 | - | |||||||||||||
Corporate Securities | 49,761 | 8,171 | 41,590 | - | |||||||||||||
Other | 1,284 | 974 | 310 | - | |||||||||||||
Total Assets Measured at Fair Value On a Recurring Basis | $ | 421,765 | $ | 32,732 | $ | 389,033 | $ | - | |||||||||
Changes in level 3 assets measured at fair value on a recurring basis | ' | ||||||||||||||||
The following table presents changes in level 3 assets measured at fair value on a recurring basis. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance at Beginning of Period | $ | - | $ | 5,612 | $ | - | $ | 5,665 | |||||||||
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 | - | (31 | ) | - | (84 | ) | |||||||||||
Net Transfers out of Available for Sale Securities | - | (5,581 | ) | - | (5,581 | ) | |||||||||||
Balance at End of Period | $ | - | $ | - | $ | - | $ | - | |||||||||
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 impaired loans & leases and other real estate, 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 September 30, 2014, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Commercial Real Estate | $ | 92 | $ | - | $ | - | $ | 92 | |||||||||
Residential 1st Mortgages | 526 | - | - | 526 | |||||||||||||
Home Equity Lines and Loans | 763 | - | - | 763 | |||||||||||||
Agricultural | 363 | - | - | 363 | |||||||||||||
Commercial | 3,836 | - | - | 3,836 | |||||||||||||
Total Impaired Loans | 5,580 | - | - | 5,580 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,441 | - | - | 2,441 | |||||||||||||
Agricultural Real Estate | 858 | - | - | 858 | |||||||||||||
Total Other Real Estate | 3,299 | - | - | 3,299 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 8,879 | $ | - | $ | - | $ | 8,879 | |||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgages | $ | 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 September 30, 2013, Using | |||||||||||||||||
Fair Value | Quoted Prices in | Other | Significant | ||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | |||||||||||||||||
(in thousands) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Impaired Loans | |||||||||||||||||
Residential 1st Mortgages | $ | 477 | $ | - | $ | - | $ | 477 | |||||||||
Home Equity Lines and Loans | 293 | - | - | 293 | |||||||||||||
Agricultural | 366 | - | - | 366 | |||||||||||||
Commercial | 228 | - | - | 228 | |||||||||||||
Total Impaired Loans | 1,364 | - | - | 1,364 | |||||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | 2,398 | - | - | 2,398 | |||||||||||||
Agricultural Real Estate | 1,268 | - | - | 1,268 | |||||||||||||
Total Other Real Estate | 3,666 | - | - | 3,666 | |||||||||||||
Total Assets Measured at Fair Value On a Non-Recurring Basis | $ | 5,030 | $ | - | $ | - | $ | 5,030 | |||||||||
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 September 30, 2014: | |||||||||||||||||
(in thousands) | Fair Value | Valuation Technique | Unobservable Inputs | Range, Weighted Avg. | |||||||||||||
Impaired Loans | |||||||||||||||||
Commercial Real Estate | $ | 92 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -1%, 1 | % | |||||||||||
Residential 1st Mortgages | $ | 526 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 11% -24%, 17 | % | |||||||||||
Home Equity Lines and Loans | $ | 763 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% - 14%, 11 | % | |||||||||||
Agricultural | $ | 343 | Income Approach | Capitalization Rate | 14% - 14%, 14 | % | |||||||||||
Agricultural | $ | 20 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% -1%, 1 | % | |||||||||||
Commercial | $ | 3,836 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 1% - 13%, 4 | % | |||||||||||
Other Real Estate | |||||||||||||||||
Real Estate Construction | $ | 2,441 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % | |||||||||||
Agricultural Real Estate | $ | 858 | Sales Comparison Approach | Adjustment for Difference Between Comparable Sales | 10% - 10%, 10 | % |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
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 | |||||||||||||||||||||
30-Sep-14 | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
(in thousands) | Amount | in Active | Observable | Unobservable | Estimated | ||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 39,216 | $ | 39,216 | $ | - | $ | - | $ | 39,216 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 13,361 | 13,361 | - | - | 13,361 | ||||||||||||||||
Mortgage Backed Securities | 322,680 | 39,566 | 283,114 | - | 322,680 | ||||||||||||||||
Other | 485 | 175 | 310 | - | 485 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 336,526 | 53,102 | 283,424 | - | 336,526 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 67,206 | - | 54,375 | 13,539 | 67,914 | ||||||||||||||||
Other | 2,235 | - | 2,235 | - | 2,235 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 69,441 | - | 56,610 | 13,539 | 70,149 | ||||||||||||||||
FHLB Stock | 7,677 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 465,707 | - | - | 462,469 | 462,469 | ||||||||||||||||
Agricultural Real Estate | 360,215 | - | - | 360,976 | 360,976 | ||||||||||||||||
Real Estate Construction | 102,783 | - | - | 103,095 | 103,095 | ||||||||||||||||
Residential 1st Mortgages | 167,168 | - | - | 169,971 | 169,971 | ||||||||||||||||
Home Equity Lines and Loans | 30,608 | - | - | 32,601 | 32,601 | ||||||||||||||||
Agricultural | 231,739 | - | - | 230,572 | 230,572 | ||||||||||||||||
Commercial | 184,889 | - | - | 184,466 | 184,466 | ||||||||||||||||
Consumer & Other | 4,595 | - | - | 4,619 | 4,619 | ||||||||||||||||
Leases | 35,063 | 33,519 | 33,519 | ||||||||||||||||||
Unallocated Allowance | (1,263 | ) | - | - | (1,263 | ) | (1,263 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,581,504 | - | - | 1,581,025 | 1,581,025 | ||||||||||||||||
Accrued Interest Receivable | 8,986 | - | 8,986 | - | 8,986 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 516,093 | 516,093 | - | - | 516,093 | ||||||||||||||||
Interest Bearing Transaction | 326,368 | 326,368 | - | - | 326,368 | ||||||||||||||||
Savings and Money Market | 614,137 | 614,137 | - | - | 614,137 | ||||||||||||||||
Time | 419,615 | - | 419,663 | - | 419,663 | ||||||||||||||||
Total Deposits | 1,876,213 | 1,456,598 | 419,663 | - | 1,876,261 | ||||||||||||||||
FHLB Advances | 36,000 | - | 36,000 | - | 36,000 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 6,227 | - | 6,227 | ||||||||||||||||
Accrued Interest Payable | 314 | - | 314 | - | 314 | ||||||||||||||||
Fair Value of Financial Instruments Using | |||||||||||||||||||||
December 31, 2013 (in thousands) | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
Amount | in Active | Observable | Unobservable | Estimated | |||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
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 | |||||||||||||||||||||
September 30, 2013 (in thousands) | Carrying | Quoted Prices | Other | Significant | Total | ||||||||||||||||
Amount | in Active | Observable | Unobservable | Estimated | |||||||||||||||||
Markets for | Inputs | Inputs | Fair Value | ||||||||||||||||||
Identical Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Cash and Cash Equivalents | $ | 47,625 | $ | 47,625 | $ | - | $ | - | $ | 47,625 | |||||||||||
Investment Securities Available-for-Sale: | |||||||||||||||||||||
Government Agency & Government-Sponsored Entities | 28,643 | 23,587 | 5,056 | - | 28,643 | ||||||||||||||||
Mortgage Backed Securities | 342,077 | - | 342,077 | - | 342,077 | ||||||||||||||||
Corporate Securities | 49,761 | 8,171 | 41,590 | - | 49,761 | ||||||||||||||||
Other | 1,284 | 974 | 310 | - | 1,284 | ||||||||||||||||
Total Investment Securities Available-for-Sale | 421,765 | 32,732 | 389,033 | - | 421,765 | ||||||||||||||||
Investment Securities Held-to-Maturity: | |||||||||||||||||||||
Obligations of States and Political Subdivisions | 67,717 | - | 55,188 | 12,753 | 67,941 | ||||||||||||||||
Mortgage Backed Securities | 121 | - | 122 | - | 122 | ||||||||||||||||
Other | 3,123 | - | 3,123 | - | 3,123 | ||||||||||||||||
Total Investment Securities Held-to-Maturity | 70,961 | - | 58,433 | 12,753 | 71,186 | ||||||||||||||||
FHLB Stock | 7,187 | N/ | A | N/ | A | N/ | A | N/ | A | ||||||||||||
Loans & Leases, Net of Deferred Fees & Allowance: | |||||||||||||||||||||
Commercial Real Estate | 395,550 | - | - | 399,792 | 399,792 | ||||||||||||||||
Agricultural Real Estate | 308,188 | - | - | 313,920 | 313,920 | ||||||||||||||||
Real Estate Construction | 26,161 | - | - | 26,437 | 26,437 | ||||||||||||||||
Residential 1st Mortgages | 142,504 | - | - | 145,778 | 145,778 | ||||||||||||||||
Home Equity Lines and Loans | 34,410 | - | - | 36,988 | 36,988 | ||||||||||||||||
Agricultural | 212,309 | - | - | 211,418 | 211,418 | ||||||||||||||||
Commercial | 136,002 | - | - | 137,033 | 137,033 | ||||||||||||||||
Consumer & Other | 4,895 | - | - | 4,945 | 4,945 | ||||||||||||||||
Leases | 4,523 | - | - | 4,523 | 4,523 | ||||||||||||||||
Unallocated Allowance | (842 | ) | - | - | (842 | ) | (842 | ) | |||||||||||||
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,263,700 | - | - | 1,279,992 | 1,279,992 | ||||||||||||||||
Accrued Interest Receivable | 8,214 | - | 8,214 | - | 8,214 | ||||||||||||||||
Liabilities: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand | 435,778 | 435,778 | - | - | 435,778 | ||||||||||||||||
Interest Bearing Transaction | 257,650 | 257,650 | - | - | 257,650 | ||||||||||||||||
Savings and Money Market | 561,277 | 561,277 | - | - | 561,277 | ||||||||||||||||
Time | 439,081 | - | 439,485 | - | 439,485 | ||||||||||||||||
Total Deposits | 1,693,786 | 1,254,705 | 439,485 | - | 1,694,190 | ||||||||||||||||
FHLB Advances | 5,900 | - | 5,900 | - | 5,900 | ||||||||||||||||
Subordinated Debentures | 10,310 | - | 5,665 | - | 5,665 | ||||||||||||||||
Accrued Interest Payable | 357 | - | 357 | - | 357 |
Dividends_and_Basic_Earnings_P1
Dividends and Basic Earnings Per Common Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ||||||||||||||||
Calculation of basic earnings per share | ' | ||||||||||||||||
Basic earnings per 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 share for the three and nine months ended September 30, 2014 and 2013. | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended Sept. 30, | Ended Sept. 30, | ||||||||||||||||
(net income in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Net Income | $ | 6,432 | $ | 6,352 | $ | 18,818 | $ | 18,168 | |||||||||
Weighted Average Number of Common Shares Outstanding | 777,882 | 777,882 | 777,882 | 777,882 | |||||||||||||
Basic Earnings Per Common Share | $ | 8.27 | $ | 8.17 | $ | 24.19 | $ | 23.36 |
Significant_Accounting_Policie2
Significant Accounting Policies (Details) | 9 Months Ended |
Sep. 30, 2014 | |
RiskFactor | |
Segment | |
Component | |
Category | |
Investment Securities [Abstract] | ' |
Number of components into which amount of impairment is split | 2 |
Loans & Leases [Abstract] | ' |
Period after which loans are placed on non accrual status, minimum | '90 days |
Allowance for Credit Losses [Abstract] | ' |
Number of primary components of overall allowance for credit losses | 3 |
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 $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | $334,892 | $408,897 | $422,347 | |||
Gross Unrealized Gains | 4,077 | 3,455 | 5,417 | |||
Gross Unrealized Losses | 2,443 | 7,713 | 5,999 | |||
Fair/Book Value | 336,526 | 404,639 | 421,765 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | |||
Less Than 12 Months Fair Value | 62,825 | 211,033 | 149,079 | |||
12 Months or More Fair Value | 64,968 | 2,457 | 0 | |||
Total Fair Value | 127,793 | 213,490 | 149,079 | |||
Less Than 12 Months Unrealized Loss | 240 | 7,672 | 5,999 | |||
12 Months or More Unrealized Loss | 2,203 | 41 | 0 | |||
Total Unrealized Loss | 2,443 | 7,713 | 5,999 | |||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' | |||
Amortized cost, Total | 69,441 | 68,505 | 70,961 | |||
Gross Unrealized Gains | 725 | 812 | 966 | |||
Gross Unrealized Losses | 17 | 627 | 741 | |||
Fair Value | 70,149 | 68,690 | 71,186 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | |||
Less than Twelve Months Fair Value | 1,943 | 9,518 | 9,411 | |||
Twelve Months or More Fair Value | 2,556 | 0 | 0 | |||
Total Fair Value | 4,499 | 9,518 | 9,411 | |||
Less than 12 Months Unrealized Loss | 11 | 627 | 741 | |||
12 Months or Longer Unrealized Loss | 6 | 0 | 0 | |||
Total Unrealized Loss | 17 | 627 | 741 | |||
Obligations of States and Political Subdivisions [Member] | ' | ' | ' | |||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' | |||
Amortized cost, Total | 67,206 | 65,685 | 67,717 | |||
Gross Unrealized Gains | 725 | 812 | 965 | |||
Gross Unrealized Losses | 17 | 627 | 741 | |||
Fair Value | 67,914 | 65,870 | 67,941 | |||
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | |||
Less than Twelve Months Fair Value | 1,943 | 9,518 | 9,411 | |||
Twelve Months or More Fair Value | 2,556 | 0 | 0 | |||
Total Fair Value | 4,499 | 9,518 | 9,411 | |||
Less than 12 Months Unrealized Loss | 11 | 627 | 741 | |||
12 Months or Longer Unrealized Loss | 6 | 0 | 0 | |||
Total Unrealized Loss | 17 | 627 | 741 | |||
Mortgage Backed Securities [Member] | ' | ' | ' | |||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' | |||
Amortized cost, Total | ' | 45 | [1] | 121 | [1] | |
Gross Unrealized Gains | ' | 0 | [1] | 1 | [1] | |
Gross Unrealized Losses | ' | 0 | [1] | 0 | [1] | |
Fair Value | ' | 45 | [1] | 122 | [1] | |
Other [Member] | ' | ' | ' | |||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' | ' | |||
Amortized cost, Total | 2,235 | 2,775 | 3,123 | |||
Gross Unrealized Gains | 0 | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | 0 | |||
Fair Value | 2,235 | 2,775 | 3,123 | |||
Government Agency & Government Sponsored Entities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 13,220 | 28,287 | 28,404 | |||
Gross Unrealized Gains | 141 | 149 | 239 | |||
Gross Unrealized Losses | 0 | 0 | 0 | |||
Fair/Book Value | 13,361 | 28,436 | 28,643 | |||
Mortgage Backed Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 321,187 | [1] | 329,469 | [1] | 342,963 | [1] |
Gross Unrealized Gains | 3,936 | [1] | 3,026 | [1] | 4,928 | [1] |
Gross Unrealized Losses | 2,443 | [1] | 7,566 | [1] | 5,814 | [1] |
Fair/Book Value | 322,680 | [1] | 324,929 | [1] | 342,077 | [1] |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | |||
Less Than 12 Months Fair Value | 62,825 | 195,736 | 129,198 | |||
12 Months or More Fair Value | 64,968 | 0 | 0 | |||
Total Fair Value | 127,793 | 195,736 | 129,198 | |||
Less Than 12 Months Unrealized Loss | 240 | 7,566 | 5,814 | |||
12 Months or More Unrealized Loss | 2,203 | 0 | 0 | |||
Total Unrealized Loss | 2,443 | 7,566 | 5,814 | |||
Corporate Securities [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | ' | 49,247 | 49,696 | |||
Gross Unrealized Gains | ' | 280 | 250 | |||
Gross Unrealized Losses | ' | 147 | 185 | |||
Fair/Book Value | ' | 49,380 | 49,761 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | |||
Less Than 12 Months Fair Value | ' | 15,297 | 19,881 | |||
12 Months or More Fair Value | ' | 2,457 | 0 | |||
Total Fair Value | ' | 17,754 | 19,881 | |||
Less Than 12 Months Unrealized Loss | ' | 106 | 185 | |||
12 Months or More Unrealized Loss | ' | 41 | 0 | |||
Total Unrealized Loss | ' | 147 | 185 | |||
Other [Member] | ' | ' | ' | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | |||
Amortized Cost | 485 | 1,894 | 1,284 | |||
Gross Unrealized Gains | 0 | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | 0 | |||
Fair/Book Value | $485 | $1,894 | $1,284 | |||
[1] | All Mortgage Backed Securities consist of securities collateralized by residential real estate and were issued by an agency or government sponsored entity of the U.S. government. |
Investment_Securities_Contract
Investment Securities, Contract Maturity (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |||
In Thousands, unless otherwise specified | ||||||
Amortized Cost [Abstract] | ' | ' | ' | |||
Within one year | $10,473 | ' | ' | |||
After one year through five years | 3,232 | ' | ' | |||
After five years through ten years | 0 | ' | ' | |||
After ten years | 0 | ' | ' | |||
Amortized cost, before single maturity date | 13,705 | ' | ' | |||
Investment securities not due at a single maturity date | 321,187 | ' | ' | |||
Amortized cost, Total | 334,892 | ' | ' | |||
Fair/Book Value [Abstract] | ' | ' | ' | |||
Within one year | 10,496 | ' | ' | |||
After one year through five years | 3,350 | ' | ' | |||
After five years through ten years | 0 | ' | ' | |||
After ten years | 0 | ' | ' | |||
Fair/Book Value, before single maturity date | 13,846 | ' | ' | |||
Investment securities not due at a single maturity date | 322,680 | ' | ' | |||
Fair/Book Value, Total | 336,526 | 404,639 | 421,765 | |||
Amortized Cost [Abstract] | ' | ' | ' | |||
Within one year | 4,115 | ' | ' | |||
After one year through five years | 17,518 | ' | ' | |||
After five years through ten years | 13,440 | ' | ' | |||
After ten years | 34,368 | ' | ' | |||
Amortized cost, before single maturity date | 69,441 | ' | ' | |||
Investment securities not due at a single maturity date | 0 | ' | ' | |||
Amortized cost, Total | 69,441 | 68,505 | 70,961 | |||
Fair Value [Abstract] | ' | ' | ' | |||
Within one year | 4,117 | ' | ' | |||
After one year through five years | 17,814 | ' | ' | |||
After five years through ten years | 13,589 | ' | ' | |||
After ten years | 34,629 | ' | ' | |||
Fair/Book Value, before single maturity date | 70,149 | ' | ' | |||
Investment securities not due at a single maturity date | 0 | ' | ' | |||
Fair Value | 70,149 | 68,690 | 71,186 | |||
Government Agency & Government Sponsored Entities [Member] | ' | ' | ' | |||
Fair/Book Value [Abstract] | ' | ' | ' | |||
Fair/Book Value, Total | 13,361 | 28,436 | 28,643 | |||
Mortgage Backed Securities [Member] | ' | ' | ' | |||
Fair/Book Value [Abstract] | ' | ' | ' | |||
Fair/Book Value, Total | 322,680 | [1] | 324,929 | [1] | 342,077 | [1] |
Corporate Securities [Member] | ' | ' | ' | |||
Fair/Book Value [Abstract] | ' | ' | ' | |||
Fair/Book Value, Total | ' | 49,380 | 49,761 | |||
Other [Member] | ' | ' | ' | |||
Fair/Book Value [Abstract] | ' | ' | ' | |||
Fair/Book Value, Total | $485 | $1,894 | $1,284 | |||
[1] | All Mortgage Backed Securities consist of securities collateralized by residential real estate and were issued by an agency or government sponsored entity of the U.S. government. |
Investment_Securities_Proceeds
Investment Securities, Proceeds From Sales (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Proceeds from sales and calls of securities [Abstract] | ' | ' | ' | ' |
Proceeds | $85,433 | $28,297 | $95,349 | $77,912 |
Gains | 811 | 285 | 845 | 1,189 |
Losses | $807 | $1,422 | $807 | $1,437 |
Investment_Securities_Gain_Los
Investment Securities, Gain Loss And Other Disclosures (Details) (USD $) | 9 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2014 | |
Security | Government Agency Government Sponsored Entities [Member] | Government Agency Government Sponsored Entities [Member] | Government Agency Government Sponsored Entities [Member] | Mortgage Backed Securities [Member] | Mortgage Backed Securities [Member] | Mortgage Backed Securities [Member] | Obligations of States and Political Subdivisions [Member] | Obligations of States and Political Subdivisions [Member] | Obligations of States and Political Subdivisions [Member] | Corporate Securities [Member] | Corporate Securities [Member] | Corporate Securities [Member] | Municipal Bonds [Member] | |||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of investment securities held | 280 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loss positions less than twelve months | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loss positions in twelve months or more | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for which financial problems are experienced by certain municipalities | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' |
Percentage of bank qualified municipal bond portfolio rated (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96.00% | ' | ' | ' | ' | ' | ' |
Percentage of portfolio not rated (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' |
Unrealized losses | ' | ' | ' | $0 | $0 | $0 | $2,400,000 | $7,600,000 | $5,800,000 | $17,000 | $627,000 | $741,000 | $0 | $147,000 | $185,000 | $375,000 |
Securities pledged to secure public deposits, FHLB borrowings, and other government agency deposits as required by law | $360,000,000 | $334,800,000 | $310,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Leases_and_Allowance_for2
Loans & Leases and Allowance for Credit Losses, Allocation of The Allowance For Credit Losses by Portfolio Segment and By Impairment Methodology (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | $34,290 | $34,235 | $34,274 | $34,217 | $34,217 |
Charge-Offs | -61 | -211 | -204 | -740 | -891 |
Recoveries | 38 | 87 | 197 | 384 | 523 |
Provision | 0 | 0 | 0 | 250 | 425 |
Ending Balance | 34,267 | 34,111 | 34,267 | 34,111 | 34,274 |
Ending Balance Individually Evaluated for Impairment | 2,201 | 3,276 | 2,201 | 3,276 | 1,616 |
Ending Balance Collectively Evaluated for Impairment | 32,066 | 30,835 | 32,066 | 30,835 | 32,658 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 1,615,771 | 1,297,811 | 1,615,771 | 1,297,811 | 1,388,236 |
Ending Balance Individually Evaluated for Impairment | 33,536 | 33,913 | 33,536 | 33,913 | 35,616 |
Ending Balance Collectively Evaluated for Impairment | 1,582,235 | 1,263,898 | 1,582,235 | 1,263,898 | 1,352,620 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 6,991 | 5,732 | 5,178 | 6,464 | 6,464 |
Charge-Offs | 0 | -6 | 0 | -6 | -6 |
Recoveries | 12 | 0 | 12 | 0 | 0 |
Provision | 795 | 350 | 2,608 | -382 | -1,280 |
Ending Balance | 7,798 | 6,076 | 7,798 | 6,076 | 5,178 |
Ending Balance Individually Evaluated for Impairment | 190 | 788 | 190 | 788 | 0 |
Ending Balance Collectively Evaluated for Impairment | 7,608 | 5,288 | 7,608 | 5,288 | 5,178 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 473,505 | 401,626 | 473,505 | 401,626 | 407,514 |
Ending Balance Individually Evaluated for Impairment | 20,175 | 22,467 | 20,175 | 22,467 | 22,176 |
Ending Balance Collectively Evaluated for Impairment | 453,330 | 379,159 | 453,330 | 379,159 | 385,338 |
Agricultural Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 3,677 | 3,481 | 3,576 | 2,877 | 2,877 |
Charge-Offs | 0 | -175 | 0 | -575 | -575 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | 269 | -93 | 370 | 911 | 1,274 |
Ending Balance | 3,946 | 3,213 | 3,946 | 3,213 | 3,576 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 3,946 | 3,213 | 3,946 | 3,213 | 3,576 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 364,161 | 311,401 | 364,161 | 311,401 | 328,264 |
Ending Balance Individually Evaluated for Impairment | 0 | 849 | 0 | 849 | 0 |
Ending Balance Collectively Evaluated for Impairment | 364,161 | 310,552 | 364,161 | 310,552 | 328,264 |
Real Estate Construction [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 1,290 | 977 | 654 | 986 | 986 |
Charge-Offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | 390 | -39 | 1,026 | -48 | -332 |
Ending Balance | 1,680 | 938 | 1,680 | 938 | 654 |
Ending Balance Individually Evaluated for Impairment | 239 | 229 | 239 | 229 | 0 |
Ending Balance Collectively Evaluated for Impairment | 1,441 | 709 | 1,441 | 709 | 654 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 104,463 | 27,099 | 104,463 | 27,099 | 41,092 |
Ending Balance Individually Evaluated for Impairment | 4,419 | 4,527 | 4,419 | 4,527 | 4,500 |
Ending Balance Collectively Evaluated for Impairment | 100,044 | 22,572 | 100,044 | 22,572 | 36,592 |
Residential 1st Mortgages [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 1,094 | 1,037 | 1,108 | 1,219 | 1,219 |
Charge-Offs | -25 | 0 | -58 | -16 | -16 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | 73 | 36 | 92 | -130 | -95 |
Ending Balance | 1,142 | 1,073 | 1,142 | 1,073 | 1,108 |
Ending Balance Individually Evaluated for Impairment | 370 | 75 | 370 | 75 | 414 |
Ending Balance Collectively Evaluated for Impairment | 772 | 998 | 772 | 998 | 694 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 168,310 | 143,577 | 168,310 | 143,577 | 151,292 |
Ending Balance Individually Evaluated for Impairment | 1,847 | 1,962 | 1,847 | 1,962 | 2,072 |
Ending Balance Collectively Evaluated for Impairment | 166,463 | 141,615 | 166,463 | 141,615 | 149,220 |
Home Equity Lines and Loans [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 2,737 | 2,984 | 2,767 | 3,235 | 3,235 |
Charge-Offs | -5 | -1 | -70 | -23 | -91 |
Recoveries | 3 | 10 | 54 | 30 | 115 |
Provision | -60 | -243 | -76 | -492 | -492 |
Ending Balance | 2,675 | 2,750 | 2,675 | 2,750 | 2,767 |
Ending Balance Individually Evaluated for Impairment | 328 | 147 | 328 | 147 | 209 |
Ending Balance Collectively Evaluated for Impairment | 2,347 | 2,603 | 2,347 | 2,603 | 2,558 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 33,283 | 37,160 | 33,283 | 37,160 | 35,477 |
Ending Balance Individually Evaluated for Impairment | 1,658 | 1,125 | 1,658 | 1,125 | 1,045 |
Ending Balance Collectively Evaluated for Impairment | 31,625 | 36,035 | 31,625 | 36,035 | 34,432 |
Agricultural [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 8,291 | 10,557 | 12,205 | 10,437 | 10,437 |
Charge-Offs | 0 | 0 | 0 | -23 | -23 |
Recoveries | 1 | 16 | 3 | 36 | 42 |
Provision | -2,510 | -1,313 | -6,426 | -1,190 | 1,749 |
Ending Balance | 5,782 | 9,260 | 5,782 | 9,260 | 12,205 |
Ending Balance Individually Evaluated for Impairment | 120 | 126 | 120 | 126 | 122 |
Ending Balance Collectively Evaluated for Impairment | 5,662 | 9,134 | 5,662 | 9,134 | 12,083 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 237,521 | 221,569 | 237,521 | 221,569 | 256,414 |
Ending Balance Individually Evaluated for Impairment | 518 | 738 | 518 | 738 | 522 |
Ending Balance Collectively Evaluated for Impairment | 237,003 | 220,831 | 237,003 | 220,831 | 255,892 |
Commercial [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 7,377 | 9,075 | 5,697 | 7,963 | 7,963 |
Charge-Offs | 0 | 0 | 0 | -4 | -60 |
Recoveries | 6 | 45 | 83 | 281 | 312 |
Provision | 532 | 671 | 2,135 | 1,551 | -2,518 |
Ending Balance | 7,915 | 9,791 | 7,915 | 9,791 | 5,697 |
Ending Balance Individually Evaluated for Impairment | 912 | 1,858 | 912 | 1,858 | 820 |
Ending Balance Collectively Evaluated for Impairment | 7,003 | 7,933 | 7,003 | 7,933 | 4,877 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 192,804 | 145,793 | 192,804 | 145,793 | 150,398 |
Ending Balance Individually Evaluated for Impairment | 4,877 | 2,192 | 4,877 | 2,192 | 5,250 |
Ending Balance Collectively Evaluated for Impairment | 187,927 | 143,601 | 187,927 | 143,601 | 145,148 |
Consumer & Other [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 193 | 168 | 176 | 182 | 182 |
Charge-Offs | -31 | -29 | -76 | -93 | -120 |
Recoveries | 16 | 16 | 45 | 37 | 54 |
Provision | 43 | 13 | 76 | 42 | 60 |
Ending Balance | 221 | 168 | 221 | 168 | 176 |
Ending Balance Individually Evaluated for Impairment | 42 | 53 | 42 | 53 | 51 |
Ending Balance Collectively Evaluated for Impairment | 179 | 115 | 179 | 115 | 125 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 4,816 | 5,063 | 4,816 | 5,063 | 5,052 |
Ending Balance Individually Evaluated for Impairment | 42 | 53 | 42 | 53 | 51 |
Ending Balance Collectively Evaluated for Impairment | 4,774 | 5,010 | 4,774 | 5,010 | 5,001 |
Leases [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 1,108 | 0 | 639 | 0 | 0 |
Charge-Offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | 737 | 0 | 1,206 | 0 | 639 |
Ending Balance | 1,845 | 0 | 1,845 | 0 | 639 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 1,845 | 0 | 1,845 | 0 | 639 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 36,908 | 4,523 | 36,908 | 4,523 | 12,733 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 36,908 | 4,523 | 36,908 | 4,523 | 12,733 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning Balance | 1,532 | 224 | 2,274 | 854 | 854 |
Charge-Offs | 0 | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 | 0 |
Provision | -269 | 618 | -1,011 | -12 | 1,420 |
Ending Balance | 1,263 | 842 | 1,263 | 842 | 2,274 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 1,263 | 842 | 1,263 | 842 | 2,274 |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance | 0 | 0 | 0 | 0 | 0 |
Ending Balance Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Ending Balance Collectively Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 |
Restructured loans [Member] | ' | ' | ' | ' | ' |
Loans & Leases [Abstract] | ' | ' | ' | ' | ' |
Ending Balance Individually Evaluated for Impairment | $26,600 | $28,700 | $26,600 | $28,700 | $28,400 |
Loans_Leases_and_Allowance_for3
Loans & Leases and Allowance for Credit Losses, Loan Portfolio Allocated by Management's Internal Risk Ratings (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | $1,615,771 | $1,388,236 | $1,297,811 |
Loans outstanding rated doubtful or loss | 0 | 0 | 0 |
Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 473,505 | 407,514 | 401,626 |
Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 364,161 | 328,264 | 311,401 |
Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 104,463 | 41,092 | 27,099 |
Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 168,310 | 151,292 | 143,577 |
Home Equity Lines & Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 33,283 | 35,477 | 37,160 |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 237,521 | 256,414 | 221,569 |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 192,804 | 150,398 | 145,793 |
Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 4,816 | 5,052 | 5,063 |
Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 36,908 | 12,733 | 4,523 |
Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 1,577,302 | 1,353,440 | 1,265,557 |
Pass [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 464,714 | 398,488 | 389,137 |
Pass [Member] | Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 364,161 | 325,926 | 307,736 |
Pass [Member] | Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 102,831 | 39,460 | 25,467 |
Pass [Member] | Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 166,884 | 149,798 | 142,036 |
Pass [Member] | Home Equity Lines & Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 32,309 | 34,821 | 36,090 |
Pass [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 236,760 | 255,443 | 220,504 |
Pass [Member] | Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 168,215 | 132,008 | 135,303 |
Pass [Member] | Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 4,520 | 4,763 | 4,761 |
Pass [Member] | Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 36,908 | 12,733 | 4,523 |
Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 34,779 | 29,038 | 22,096 |
Special Mention [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 8,683 | 7,979 | 7,765 |
Special Mention [Member] | Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 0 | 2,338 | 2,497 |
Special Mention [Member] | Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 1,632 | 1,632 | 1,632 |
Special Mention [Member] | Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 752 | 774 | 780 |
Special Mention [Member] | Home Equity Lines & Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 88 | 0 | 0 |
Special Mention [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 695 | 889 | 464 |
Special Mention [Member] | Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 22,929 | 15,426 | 8,958 |
Special Mention [Member] | Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 0 | 0 | 0 |
Special Mention [Member] | Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 0 | 0 | 0 |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 3,690 | 5,758 | 10,158 |
Substandard [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 108 | 1,047 | 4,724 |
Substandard [Member] | Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 0 | 0 | 1,168 |
Substandard [Member] | Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 0 | 0 | 0 |
Substandard [Member] | Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 674 | 720 | 761 |
Substandard [Member] | Home Equity Lines & Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 886 | 656 | 1,070 |
Substandard [Member] | Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 66 | 82 | 601 |
Substandard [Member] | Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 1,660 | 2,964 | 1,532 |
Substandard [Member] | Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | 296 | 289 | 302 |
Substandard [Member] | Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Loans & lease | $0 | $0 | $0 |
Loans_Leases_and_Allowance_for4
Loans & Leases and Allowance for Credit Losses, Aging Analysis of Loan Portfolio by the Time Past Due (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | $104 | $1,399 | $606 |
60 to 89 Days Past Due | 0 | 52 | 215 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 2,497 | 2,596 | 3,783 |
Total Past Due | 2,601 | 4,047 | 4,604 |
Current | 1,613,170 | 1,384,189 | 1,293,207 |
Total Loans | 1,615,771 | 1,388,236 | 1,297,811 |
Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 773 | 592 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 0 | 0 | 176 |
Total Past Due | 0 | 773 | 768 |
Current | 473,505 | 406,741 | 400,858 |
Total Loans | 473,505 | 407,514 | 401,626 |
Agricultural Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 607 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 0 | 0 | 849 |
Total Past Due | 0 | 607 | 849 |
Current | 364,161 | 327,657 | 310,552 |
Total Loans | 364,161 | 328,264 | 311,401 |
Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 0 | 0 | 0 |
Total Past Due | 0 | 0 | 0 |
Current | 104,463 | 41,092 | 27,099 |
Total Loans | 104,463 | 41,092 | 27,099 |
Residential 1st Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 283 | 324 | 455 |
Total Past Due | 283 | 324 | 455 |
Current | 168,027 | 150,968 | 143,122 |
Total Loans | 168,310 | 151,292 | 143,577 |
Home Equity Lines & Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 92 | 0 | 0 |
60 to 89 Days Past Due | 0 | 52 | 121 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 575 | 406 | 243 |
Total Past Due | 667 | 458 | 364 |
Current | 32,616 | 35,019 | 36,796 |
Total Loans | 33,283 | 35,477 | 37,160 |
Agricultural [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 25 | 35 | 99 |
Total Past Due | 25 | 35 | 99 |
Current | 237,496 | 256,379 | 221,470 |
Total Loans | 237,521 | 256,414 | 221,569 |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 1,600 | 1,815 | 1,944 |
Total Past Due | 1,600 | 1,815 | 1,944 |
Current | 191,204 | 148,583 | 143,849 |
Total Loans | 192,804 | 150,398 | 145,793 |
Consumer & Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 12 | 19 | 14 |
60 to 89 Days Past Due | 0 | 0 | 94 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 14 | 16 | 17 |
Total Past Due | 26 | 35 | 125 |
Current | 4,790 | 5,017 | 4,938 |
Total Loans | 4,816 | 5,052 | 5,063 |
Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30 - 59 Days Past Due | 0 | 0 | 0 |
60 to 89 Days Past Due | 0 | 0 | 0 |
90 Days or More and Still Accruing | 0 | 0 | 0 |
Nonaccrual | 0 | 0 | 0 |
Total Past Due | 0 | 0 | 0 |
Current | 36,908 | 12,733 | 4,523 |
Total Loans | $36,908 | $12,733 | $4,523 |
Loans_Leases_and_Allowance_for5
Loans & Leases and Allowance for Credit Losses, Impaired Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | $0 | $2,135 | $0 | $2,135 | $3,611 |
Unpaid Principal Balance | 0 | 2,572 | 0 | 2,572 | 3,676 |
Average Recorded Investment | 1,638 | 5,473 | 3,074 | 7,090 | 5,253 |
Interest Income Recognized | 0 | 11 | 58 | 28 | 37 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 6,977 | 3,114 | 6,977 | 3,114 | 3,637 |
Unpaid Principal Balance | 7,214 | 3,175 | 7,214 | 3,175 | 3,845 |
Related Allowance | 1,394 | 2,213 | 1,394 | 2,213 | 1,284 |
Average Recorded Investment | 5,232 | 3,167 | 3,916 | 3,628 | 3,611 |
Interest Income Recognized | 41 | 11 | 61 | 33 | 49 |
Recorded Investment, Total | 6,977 | 5,249 | 6,977 | 5,249 | 7,248 |
Unpaid Principal Balance, Total | 7,214 | 5,747 | 7,214 | 5,747 | 7,521 |
Related Allowance | 1,394 | 2,213 | 1,394 | 2,213 | 1,284 |
Average Recorded Investment, Total | 6,870 | 8,640 | 6,990 | 10,718 | 8,864 |
Interest Income Recognized, Total | 41 | 22 | 119 | 61 | 86 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 0 | 279 | 0 | 279 | 102 |
Unpaid Principal Balance | 0 | 299 | 0 | 299 | 101 |
Average Recorded Investment | 49 | 1,626 | 82 | 953 | 865 |
Interest Income Recognized | 0 | 2 | 4 | 6 | 8 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 94 | 0 | 94 | 0 | 0 |
Unpaid Principal Balance | 94 | 0 | 94 | 0 | 0 |
Related Allowance | 2 | 0 | 2 | 0 | 0 |
Average Recorded Investment | 47 | 4 | 16 | 2 | 2 |
Interest Income Recognized | 2 | 0 | 2 | 0 | 0 |
Related Allowance | 2 | 0 | 2 | 0 | 0 |
Agricultural Real Estate [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | ' | 850 | ' | 850 | 0 |
Unpaid Principal Balance | ' | 1,173 | ' | 1,173 | 0 |
Average Recorded Investment | ' | 2,616 | ' | 3,777 | 2,185 |
Interest Income Recognized | ' | 0 | ' | 0 | 0 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | ' | 0 | ' | 0 | 0 |
Unpaid Principal Balance | ' | 0 | ' | 0 | 0 |
Related Allowance | ' | 0 | ' | 0 | 0 |
Average Recorded Investment | ' | 725 | ' | 1,221 | 823 |
Interest Income Recognized | ' | 0 | ' | 0 | 0 |
Related Allowance | ' | 0 | ' | 0 | 0 |
Residential 1st Mortgages [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | ' | 535 | ' | 535 | 0 |
Unpaid Principal Balance | ' | 588 | ' | 588 | 0 |
Average Recorded Investment | ' | 533 | ' | 643 | 450 |
Interest Income Recognized | ' | 4 | ' | 11 | 11 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 658 | 246 | 658 | 246 | 769 |
Unpaid Principal Balance | 771 | 246 | 771 | 246 | 826 |
Related Allowance | 131 | 50 | 131 | 50 | 154 |
Average Recorded Investment | 550 | 123 | 522 | 27 | 254 |
Interest Income Recognized | 1 | 0 | 3 | 0 | 6 |
Related Allowance | 131 | 50 | 131 | 50 | 154 |
Home Equity Lines & Loans [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 0 | 287 | 0 | 287 | 0 |
Unpaid Principal Balance | 0 | 306 | 0 | 306 | 0 |
Average Recorded Investment | 0 | 331 | 226 | 379 | 228 |
Interest Income Recognized | 0 | 3 | 0 | 5 | 5 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 955 | 243 | 955 | 243 | 689 |
Unpaid Principal Balance | 1,008 | 290 | 1,008 | 290 | 821 |
Related Allowance | 191 | 132 | 191 | 132 | 138 |
Average Recorded Investment | 934 | 243 | 710 | 195 | 332 |
Interest Income Recognized | 3 | 0 | 6 | 0 | 3 |
Related Allowance | 191 | 132 | 191 | 132 | 138 |
Agricultural [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 0 | 99 | 0 | 99 | 35 |
Unpaid Principal Balance | 0 | 121 | 0 | 121 | 43 |
Average Recorded Investment | 14 | 278 | 26 | 1,239 | 586 |
Interest Income Recognized | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 483 | 488 | 483 | 488 | 488 |
Unpaid Principal Balance | 493 | 488 | 493 | 488 | 488 |
Related Allowance | 119 | 122 | 119 | 122 | 122 |
Average Recorded Investment | 478 | 766 | 477 | 1,562 | 1,002 |
Interest Income Recognized | 7 | 8 | 21 | 24 | 31 |
Related Allowance | 119 | 122 | 119 | 122 | 122 |
Commercial [Member] | ' | ' | ' | ' | ' |
With no related allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 0 | 85 | 0 | 85 | 3,474 |
Unpaid Principal Balance | 0 | 85 | 0 | 85 | 3,532 |
Average Recorded Investment | 1,575 | 89 | 2,740 | 99 | 939 |
Interest Income Recognized | 0 | 2 | 54 | 6 | 13 |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 4,744 | 2,084 | 4,744 | 2,084 | 1,641 |
Unpaid Principal Balance | 4,801 | 2,095 | 4,801 | 2,095 | 1,657 |
Related Allowance | 908 | 1,856 | 908 | 1,856 | 820 |
Average Recorded Investment | 3,179 | 1,251 | 2,144 | 436 | 1,072 |
Interest Income Recognized | 27 | 2 | 27 | 6 | 6 |
Related Allowance | 908 | 1,856 | 908 | 1,856 | 820 |
Consumer & Other [Member] | ' | ' | ' | ' | ' |
With an allowance recorded [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment | 43 | 53 | 43 | 53 | 50 |
Unpaid Principal Balance | 47 | 56 | 47 | 56 | 53 |
Related Allowance | 43 | 53 | 43 | 53 | 50 |
Average Recorded Investment | 44 | 55 | 47 | 185 | 126 |
Interest Income Recognized | 1 | 1 | 2 | 3 | 3 |
Related Allowance | $43 | $53 | $43 | $53 | $50 |
Loans_Leases_and_Allowance_for6
Loans & Leases and Allowance for Credit Losses, Loans by Class Modified as Troubled Debt Restructured Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Loan | Loan | Loan | Loan | Loan | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Specific reserves | $1,300,000 | $364,000 | $1,300,000 | $364,000 | $1,200,000 |
Troubled debt restructured loans | 6,400,000 | 2,000,000 | 6,400,000 | 2,000,000 | 6,800,000 |
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings | 0 | 0 | 0 | 0 | 0 |
Period of modifications involving a reduction of stated interest rate of the loan | ' | ' | ' | '5 years | '5 years |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' | ' | ' | ' |
Number of Loans | 2 | 0 | 8 | 8 | 12 |
Pre-Modification Outstanding Recorded Investment | 299,000 | 0 | 695,000 | 793,000 | 5,736,000 |
Post-Modification Outstanding Recorded Investment | 269,000 | 0 | 649,000 | 766,000 | 5,693,000 |
Increase in allowance for credit losses due to TDR | 51,000 | 0 | 50,000 | 4,000 | ' |
TDR's charge-offs | 30,000 | 0 | 46,000 | 27,000 | 43,000 |
Charge offs on troubled debt restructurings that subsequently defaulted | ' | ' | 0 | ' | ' |
Period after which loan is considered to be in payment default | ' | ' | '90 days | ' | ' |
Number of loans modified as troubled debt restructurings with subsequent payment defaults | 0 | ' | 0 | ' | ' |
Loans modified as troubled debt restructurings with subsequent payment defaults | 0 | ' | 0 | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Period of modifications involving extension of maturity date | ' | ' | '5 years | '6 months | '6 months |
Period of modifications involving a reduction of stated interest rate of the loan | ' | ' | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Period of modifications involving extension of maturity date | ' | ' | '30 years | '10 years | '10 years |
Period of modifications involving a reduction of stated interest rate of the loan | ' | ' | '30 years | ' | ' |
Performing [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled debt restructured loans, performing | 4,500,000 | 1,500,000 | 4,500,000 | 1,500,000 | 4,600,000 |
Residential 1st Mortgages [Member] | ' | ' | ' | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' | ' | ' | ' |
Number of Loans | 1 | 0 | 4 | 4 | 4 |
Pre-Modification Outstanding Recorded Investment | 248,000 | 0 | 565,000 | 306,000 | 306,000 |
Post-Modification Outstanding Recorded Investment | 222,000 | 0 | 528,000 | 290,000 | 290,000 |
Home Equity Lines & Loans [Member] | ' | ' | ' | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' | ' | ' | ' |
Number of Loans | 1 | 0 | 3 | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | 51,000 | 0 | 98,000 | 195,000 | 414,000 |
Post-Modification Outstanding Recorded Investment | 47,000 | 0 | 89,000 | 184,000 | 387,000 |
Agricultural [Member] | ' | ' | ' | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' | ' | ' | ' |
Number of Loans | 0 | ' | 1 | ' | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' | 32,000 | ' | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' | 32,000 | ' | ' |
Commercial [Member] | ' | ' | ' | ' | ' |
Loans by class modified as troubled debt restructured loans [Abstract] | ' | ' | ' | ' | ' |
Number of Loans | ' | 0 | ' | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | ' | 0 | ' | 292,000 | 5,016,000 |
Post-Modification Outstanding Recorded Investment | ' | 0 | ' | 292,000 | 5,016,000 |
Number of loans modified as troubled debt restructurings with subsequent payment defaults | ' | ' | ' | 1 | 1 |
Loans modified as troubled debt restructurings with subsequent payment defaults | ' | ' | ' | $277,000 | $174,000 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Fair/Book Value, Total | $336,526 | $404,639 | $421,765 |
Bonds Issued by Relationship Banking Customer [Member] | ' | ' | ' |
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Ownership percentage of investment securities (in hundredths) | 100.00% | ' | ' |
Recurring [Member] | ' | ' | ' |
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 13,361 | 28,436 | 28,643 |
Mortgage Backed Securities | 322,680 | 324,929 | 342,077 |
Corporate Securities | ' | 49,380 | 49,761 |
Other | 485 | 1,894 | 1,284 |
Fair/Book Value, Total | 336,526 | 404,639 | 421,765 |
Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 13,361 | 23,394 | 23,587 |
Mortgage Backed Securities | 39,566 | 0 | 0 |
Corporate Securities | ' | 8,191 | 8,171 |
Other | 175 | 1,584 | 974 |
Fair/Book Value, Total | 53,102 | 33,169 | 32,732 |
Recurring [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 5,042 | 5,056 |
Mortgage Backed Securities | 283,114 | 324,929 | 342,077 |
Corporate Securities | ' | 41,189 | 41,590 |
Other | 310 | 310 | 310 |
Fair/Book Value, Total | 283,424 | 371,470 | 389,033 |
Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Available-for-Sale Securities [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 0 | 0 |
Mortgage Backed Securities | 0 | 0 | 0 |
Corporate Securities | ' | 0 | 0 |
Other | 0 | 0 | 0 |
Fair/Book Value, Total | 0 | 0 | 0 |
Nonrecurring [Member] | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Commercial Real Estate | 92 | ' | ' |
Residential 1st Mortgages | 526 | 614 | 477 |
Home Equity Lines and Loans | 763 | 551 | 293 |
Agricultural | 363 | 366 | 366 |
Commercial | 3,836 | 820 | 228 |
Total Impaired Loans | 5,580 | 2,351 | 1,364 |
Other Real Estate [Abstract] | ' | ' | ' |
Real Estate Construction | 2,441 | 2,399 | 2,398 |
Agricultural Real Estate | 858 | 2,212 | 1,268 |
Total Other Real Estate | 3,299 | 4,611 | 3,666 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 8,879 | 6,962 | 5,030 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Commercial Real Estate | 0 | ' | ' |
Residential 1st Mortgages | 0 | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 | 0 |
Agricultural | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 |
Total Impaired Loans | 0 | 0 | 0 |
Other Real Estate [Abstract] | ' | ' | ' |
Real Estate Construction | 0 | 0 | 0 |
Agricultural Real Estate | 0 | 0 | 0 |
Total Other Real Estate | 0 | 0 | 0 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 0 | 0 | 0 |
Nonrecurring [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Commercial Real Estate | 0 | ' | ' |
Residential 1st Mortgages | 0 | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 | 0 |
Agricultural | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 |
Total Impaired Loans | 0 | 0 | 0 |
Other Real Estate [Abstract] | ' | ' | ' |
Real Estate Construction | 0 | 0 | 0 |
Agricultural Real Estate | 0 | 0 | 0 |
Total Other Real Estate | 0 | 0 | 0 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | 0 | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Commercial Real Estate | 92 | ' | ' |
Residential 1st Mortgages | 526 | 614 | 477 |
Home Equity Lines and Loans | 763 | 551 | 293 |
Agricultural | 363 | 366 | 366 |
Commercial | 3,836 | 820 | 228 |
Total Impaired Loans | 5,580 | 2,351 | 1,364 |
Other Real Estate [Abstract] | ' | ' | ' |
Real Estate Construction | 2,441 | 2,399 | 2,398 |
Agricultural Real Estate | 858 | 2,212 | 1,268 |
Total Other Real Estate | 3,299 | 4,611 | 3,666 |
Total Assets Measured at Fair Value On a Non-Recurring Basis | $8,879 | $6,962 | $5,030 |
Fair_Value_Measurements_Unobse
Fair Value Measurements, Unobservable Input Reconciliation (Details) (Securities [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Securities [Member] | ' | ' | ' | ' |
Changes in level 3 assets measured at fair value on a recurring basis [Roll Forward] | ' | ' | ' | ' |
Balance at Beginning of Period | $0 | $5,612 | $0 | $5,665 |
Total Realized and Unrealized Gains/(Losses) Included in Income | 0 | 0 | 0 | 0 |
Total Unrealized Gains/(Losses) Included in Other Comprehensive Income | 0 | 0 | 0 | 0 |
Purchase of Securities | 0 | 0 | 0 | 0 |
Sales, Maturities, and Calls of Securities | 0 | -31 | 0 | -84 |
Net Transfers out of Available for Sale Securities | 0 | -5,581 | 0 | -5,581 |
Balance at End of Period | $0 | $0 | $0 | $0 |
Fair_Value_Measurements_Quanti
Fair Value Measurements, Quantitative Information (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Commercial Real Estate [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | $92 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Commercial Real Estate [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Commercial Real Estate [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Commercial Real Estate [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Residential 1st Mortgages [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 526 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Residential 1st Mortgages [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 11.00% |
Residential 1st Mortgages [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 24.00% |
Residential 1st Mortgages [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 17.00% |
Home Equity Lines and Loans [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 763 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Home Equity Lines and Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Home Equity Lines and Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 14.00% |
Home Equity Lines and Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 11.00% |
Agricultural [Member] | Income Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 343 |
Unobservable inputs | 'Capitalization Rate |
Agricultural [Member] | Income Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Capitalization rate (in hundredths) | 14.00% |
Agricultural [Member] | Income Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Capitalization rate (in hundredths) | 14.00% |
Agricultural [Member] | Income Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Capitalization rate (in hundredths) | 14.00% |
Agricultural [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 20 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Agricultural [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Agricultural [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Agricultural [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Commercial [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 3,836 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Commercial [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 1.00% |
Commercial [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 13.00% |
Commercial [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 4.00% |
Real Estate Construction [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | 2,441 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Real Estate Construction [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Real Estate Construction [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Real Estate Construction [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Agricultural Real Estate [Member] | Sales Comparison Approach [Member] | ' |
Quantitative Information [Abstract] | ' |
Fair value | $858 |
Unobservable inputs | 'Adjustment for Difference Between Comparable Sales |
Agricultural Real Estate [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Agricultural Real Estate [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Agricultural Real Estate [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ' |
Quantitative Information [Abstract] | ' |
Adjustment for difference between comparable sales (in hundredths) | 10.00% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Fair/Book Value, Total | $336,526 | $404,639 | $421,765 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Fair Value | 70,149 | 68,690 | 71,186 |
Carrying Amount [Member] | ' | ' | ' |
Assets [Abstract] | ' | ' | ' |
Cash and Cash Equivalents | 39,216 | 83,677 | 47,625 |
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 13,361 | 28,436 | 28,643 |
Mortgage Backed Securities | 322,680 | 324,929 | 342,077 |
Corporate Securities | ' | 49,380 | 49,761 |
Other | 485 | 1,894 | 1,284 |
Fair/Book Value, Total | 336,526 | 404,639 | 421,765 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Obligations of States and Political Subdivisions | 67,206 | 65,685 | 67,717 |
Mortgage Backed Securities | ' | 45 | 121 |
Other | 2,235 | 2,775 | 3,123 |
Fair Value | 69,441 | 68,505 | 70,961 |
FHLB Stock | 7,677 | 7,187 | 7,187 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' | ' |
Commercial Real Estate | 465,707 | 402,336 | 395,550 |
Agricultural Real Estate | 360,215 | 324,688 | 308,188 |
Real Estate Construction | 102,783 | 40,438 | 26,161 |
Residential 1st Mortgages | 167,168 | 150,184 | 142,504 |
Home Equity Lines and Loans | 30,608 | 32,710 | 34,410 |
Agricultural | 231,739 | 244,209 | 212,309 |
Commercial | 184,889 | 144,701 | 136,002 |
Consumer & Other | 4,595 | 4,876 | 4,895 |
Leases | 35,063 | 12,094 | 4,523 |
Unallocated Allowance | -1,263 | -2,274 | -842 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,581,504 | 1,353,962 | 1,263,700 |
Accrued Interest Receivable | 8,986 | 6,941 | 8,214 |
Deposits [Abstract] | ' | ' | ' |
Demand | 516,093 | 495,963 | 435,778 |
Interest Bearing Transaction | 326,368 | 291,795 | 257,650 |
Savings and Money Market | 614,137 | 589,511 | 561,277 |
Time | 419,615 | 430,422 | 439,081 |
Total Deposits | 1,876,213 | 1,807,691 | 1,693,786 |
FHLB Advances | 36,000 | ' | 5,900 |
Subordinated Debentures | 10,310 | 10,310 | 10,310 |
Accrued Interest Payable | 314 | 352 | 357 |
Estimated Fair Value [Member] | ' | ' | ' |
Assets [Abstract] | ' | ' | ' |
Cash and Cash Equivalents | 39,216 | 83,677 | 47,625 |
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 13,361 | 28,436 | 28,643 |
Mortgage Backed Securities | 322,680 | 324,929 | 342,077 |
Corporate Securities | ' | 49,380 | 49,761 |
Other | 485 | 1,894 | 1,284 |
Fair/Book Value, Total | 336,526 | 404,639 | 421,765 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Obligations of States and Political Subdivisions | 67,914 | 65,870 | 67,941 |
Mortgage Backed Securities | ' | 45 | 122 |
Other | 2,235 | 2,775 | 3,123 |
Fair Value | 70,149 | 68,690 | 71,186 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' | ' |
Commercial Real Estate | 462,469 | 403,790 | 399,792 |
Agricultural Real Estate | 360,976 | 328,704 | 313,920 |
Real Estate Construction | 103,095 | 40,800 | 26,437 |
Residential 1st Mortgages | 169,971 | 153,352 | 145,778 |
Home Equity Lines and Loans | 32,601 | 35,250 | 36,988 |
Agricultural | 230,572 | 242,950 | 211,418 |
Commercial | 184,466 | 145,131 | 137,033 |
Consumer & Other | 4,619 | 4,912 | 4,945 |
Leases | 33,519 | 11,851 | 4,523 |
Unallocated Allowance | -1,263 | -2,274 | -842 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,581,025 | 1,364,466 | 1,279,992 |
Accrued Interest Receivable | 8,986 | 6,941 | 8,214 |
Deposits [Abstract] | ' | ' | ' |
Demand | 516,093 | 495,963 | 435,778 |
Interest Bearing Transaction | 326,368 | 291,795 | 257,650 |
Savings and Money Market | 614,137 | 589,511 | 561,277 |
Time | 419,663 | 430,752 | 439,485 |
Total Deposits | 1,876,261 | 1,808,021 | 1,694,190 |
FHLB Advances | 36,000 | ' | 5,900 |
Subordinated Debentures | 6,227 | 6,224 | 5,665 |
Accrued Interest Payable | 314 | 352 | 357 |
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' | ' |
Assets [Abstract] | ' | ' | ' |
Cash and Cash Equivalents | 39,216 | 83,677 | 47,625 |
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 13,361 | 23,394 | 23,587 |
Mortgage Backed Securities | 39,566 | 0 | 0 |
Corporate Securities | ' | 8,191 | 8,171 |
Other | 175 | 1,584 | 974 |
Fair/Book Value, Total | 53,102 | 33,169 | 32,732 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Obligations of States and Political Subdivisions | 0 | 0 | 0 |
Mortgage Backed Securities | ' | 0 | 0 |
Other | 0 | 0 | 0 |
Fair Value | 0 | 0 | 0 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' | ' |
Commercial Real Estate | 0 | 0 | 0 |
Agricultural Real Estate | 0 | 0 | 0 |
Real Estate Construction | 0 | 0 | 0 |
Residential 1st Mortgages | 0 | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 | 0 |
Agricultural | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 |
Consumer & Other | 0 | 0 | 0 |
Leases | ' | 0 | 0 |
Unallocated Allowance | 0 | 0 | 0 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 0 | 0 | 0 |
Accrued Interest Receivable | 0 | 0 | 0 |
Deposits [Abstract] | ' | ' | ' |
Demand | 516,093 | 495,963 | 435,778 |
Interest Bearing Transaction | 326,368 | 291,795 | 257,650 |
Savings and Money Market | 614,137 | 589,511 | 561,277 |
Time | 0 | 0 | 0 |
Total Deposits | 1,456,598 | 1,377,269 | 1,254,705 |
FHLB Advances | 0 | ' | 0 |
Subordinated Debentures | 0 | 0 | 0 |
Accrued Interest Payable | 0 | 0 | 0 |
Estimated Fair Value [Member] | Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Assets [Abstract] | ' | ' | ' |
Cash and Cash Equivalents | 0 | 0 | 0 |
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 5,042 | 5,056 |
Mortgage Backed Securities | 283,114 | 324,929 | 342,077 |
Corporate Securities | ' | 41,189 | 41,590 |
Other | 310 | 310 | 310 |
Fair/Book Value, Total | 283,424 | 371,470 | 389,033 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Obligations of States and Political Subdivisions | 54,375 | 51,563 | 55,188 |
Mortgage Backed Securities | ' | 45 | 122 |
Other | 2,235 | 2,775 | 3,123 |
Fair Value | 56,610 | 54,383 | 58,433 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' | ' |
Commercial Real Estate | 0 | 0 | 0 |
Agricultural Real Estate | 0 | 0 | 0 |
Real Estate Construction | 0 | 0 | 0 |
Residential 1st Mortgages | 0 | 0 | 0 |
Home Equity Lines and Loans | 0 | 0 | 0 |
Agricultural | 0 | 0 | 0 |
Commercial | 0 | 0 | 0 |
Consumer & Other | 0 | 0 | 0 |
Leases | ' | 0 | 0 |
Unallocated Allowance | 0 | 0 | 0 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 0 | 0 | 0 |
Accrued Interest Receivable | 8,986 | 6,941 | 8,214 |
Deposits [Abstract] | ' | ' | ' |
Demand | 0 | 0 | 0 |
Interest Bearing Transaction | 0 | 0 | 0 |
Savings and Money Market | 0 | 0 | 0 |
Time | 419,663 | 430,752 | 439,485 |
Total Deposits | 419,663 | 430,752 | 439,485 |
FHLB Advances | 36,000 | ' | 5,900 |
Subordinated Debentures | 6,227 | 6,224 | 5,665 |
Accrued Interest Payable | 314 | 352 | 357 |
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Assets [Abstract] | ' | ' | ' |
Cash and Cash Equivalents | 0 | 0 | 0 |
Investment Securities Available-for-Sale [Abstract] | ' | ' | ' |
Government Agency & Government-Sponsored Entities | 0 | 0 | 0 |
Mortgage Backed Securities | 0 | 0 | 0 |
Corporate Securities | ' | 0 | 0 |
Other | 0 | 0 | 0 |
Fair/Book Value, Total | 0 | 0 | 0 |
Investment Securities Held-to-Maturity [Abstract] | ' | ' | ' |
Obligations of States and Political Subdivisions | 13,539 | 14,307 | 12,753 |
Mortgage Backed Securities | ' | 0 | 0 |
Other | 0 | 0 | 0 |
Fair Value | 13,539 | 14,307 | 12,753 |
Loans & Leases, Net of Deferred Fees & Allowance [Abstract] | ' | ' | ' |
Commercial Real Estate | 462,469 | 403,790 | 399,792 |
Agricultural Real Estate | 360,976 | 328,704 | 313,920 |
Real Estate Construction | 103,095 | 40,800 | 26,437 |
Residential 1st Mortgages | 169,971 | 153,352 | 145,778 |
Home Equity Lines and Loans | 32,601 | 35,250 | 36,988 |
Agricultural | 230,572 | 242,950 | 211,418 |
Commercial | 184,466 | 145,131 | 137,033 |
Consumer & Other | 4,619 | 4,912 | 4,945 |
Leases | 33,519 | 11,851 | 4,523 |
Unallocated Allowance | -1,263 | -2,274 | -842 |
Total Loans & Leases, Net of Deferred Fees & Allowance | 1,581,025 | 1,364,466 | 1,279,992 |
Accrued Interest Receivable | 0 | 0 | 0 |
Deposits [Abstract] | ' | ' | ' |
Demand | 0 | 0 | 0 |
Interest Bearing Transaction | 0 | 0 | 0 |
Savings and Money Market | 0 | 0 | 0 |
Time | 0 | 0 | 0 |
Total Deposits | 0 | 0 | 0 |
FHLB Advances | 0 | ' | 0 |
Subordinated Debentures | 0 | 0 | 0 |
Accrued Interest Payable | $0 | $0 | $0 |
Dividends_and_Basic_Earnings_P2
Dividends and Basic Earnings Per Common Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Dividends and Basic Earnings Per Common Share [Abstract] | ' | ' | ' | ' |
Dividends on common stock (in dollars per share) | ' | ' | $6.30 | $6.20 |
Dividends payable recorded date | ' | ' | 9-Jun-14 | ' |
Dividends payable, date to be paid | ' | ' | 1-Jul-14 | 1-Jul-13 |
Percentage increase in cash dividend per share (in hundredths) | ' | ' | 1.60% | ' |
Earnings per share for the period [Abstract] | ' | ' | ' | ' |
Net Income | $6,432 | $6,352 | $18,818 | $18,168 |
Weighted Average Number of Common Shares Outstanding (in shares) | 777,882 | 777,882 | 777,882 | 777,882 |
Basic Earnings Per Common Share (in dollars per share) | $8.27 | $8.17 | $24.19 | $23.36 |