Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 06, 2014 | |
Document Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'mfsf | ' |
Entity Registrant Name | 'MUTUALFIRST FINANCIAL INC | ' |
Entity Central Index Key | '0001094810 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 7,198,991 |
Consolidated_Condensed_Balance
Consolidated Condensed Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $7,814 | $8,013 |
Interest-bearing demand deposits | 12,685 | 17,272 |
Cash and cash equivalents | 20,499 | 25,285 |
Investment securities available for sale | 264,056 | 264,348 |
Loans held for sale | 6,440 | 1,888 |
Loans, net of allowance for loan losses of $13,249 and $13,412, at September 30, 2014 and December 31, 2013, respectively | 995,468 | 965,966 |
Premises and equipment, net | 30,765 | 31,471 |
Federal Home Loan Bank stock | 14,391 | 14,391 |
Investment in limited partnerships | 1,709 | 2,092 |
Deferred tax asset | 14,114 | 17,002 |
Cash value of life insurance | 50,709 | 49,843 |
Goodwill | 1,800 | ' |
Core deposit and other intangibles | 1,250 | 1,629 |
Other assets | 15,439 | 17,490 |
Total assets | 1,416,640 | 1,391,405 |
Deposits | ' | ' |
Noninterest-bearing | 157,464 | 144,195 |
Interest-bearing | 941,385 | 968,889 |
Total deposits | 1,098,849 | 1,113,084 |
Federal Home Loan Bank advances | 168,523 | 142,928 |
Other borrowings | 10,353 | 10,890 |
Other liabilities | 16,773 | 12,861 |
Total liabilities | 1,294,498 | 1,279,763 |
Commitments and Contingencies | ' | ' |
Stockholders' Equity | ' | ' |
Common stock, $.01 par value Authorized - 20,000,000 shares Issued and outstanding - 7,197,891 and 7,117,179 shares | 72 | 71 |
Additional paid-in capital | 74,286 | 73,336 |
Retained earnings | 47,290 | 41,650 |
Accumulated other comprehensive income (loss) | 494 | -3,415 |
Total stockholders' equity | 122,142 | 111,642 |
Total liabilities and stockholders' equity | $1,416,640 | $1,391,405 |
Consolidated_Condensed_Balance1
Consolidated Condensed Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for loan losses | $13,249 | $13,412 |
Common stock, par value | $0.01 | $0.01 |
Common stock, Authorized | 20,000,000 | 20,000,000 |
Common stock, shares Issued | 7,197,891 | 7,117,179 |
Common stock, shares outstanding | 7,197,891 | 7,117,179 |
Consolidated_Condensed_Stateme
Consolidated Condensed Statements of Income (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 and Dividend Income | ' | ' | ' | ' |
Loans receivable | $10,904 | $11,080 | $32,488 | $33,142 |
Investment securities | 1,760 | 1,833 | 5,320 | 5,283 |
Federal Home Loan Bank stock | 134 | 124 | 464 | 377 |
Deposits with financial institutions | 5 | 4 | 13 | 18 |
Total interest and dividend income | 12,803 | 13,041 | 38,285 | 38,820 |
Interest Expense | ' | ' | ' | ' |
Deposits | 1,450 | 2,333 | 4,677 | 7,253 |
Federal Home Loan Bank advances | 571 | 320 | 1,562 | 882 |
Other | 142 | 148 | 430 | 446 |
Total interest expense | 2,163 | 2,801 | 6,669 | 8,581 |
Net Interest Income | 10,640 | 10,240 | 31,616 | 30,239 |
Provision for loan losses | ' | 750 | 850 | 2,250 |
Net Interest Income After Provision for Loan Losses | 10,640 | 9,490 | 30,766 | 27,989 |
Other Income | ' | ' | ' | ' |
Service fee income | 1,518 | 1,447 | 4,398 | 4,382 |
Net realized gain on sales of available-for-sale securities | 75 | 453 | 436 | 835 |
Commissions | 1,228 | 1,041 | 3,488 | 3,196 |
Equity in losses of limited partnerships | -124 | -84 | -309 | -338 |
Net gains on sales of loans | 444 | 84 | 929 | 654 |
Net servicing fees | 66 | 63 | 45 | 471 |
Increase in cash value of life insurance | 295 | 321 | 866 | 942 |
Loss on sale of other real estate and repossessed assets | -81 | -108 | -321 | -53 |
Other income | 153 | 57 | 329 | 282 |
Total other income | 3,574 | 3,274 | 9,861 | 10,371 |
Other Expenses | ' | ' | ' | ' |
Salaries and employee benefits | 6,088 | 5,282 | 17,461 | 16,365 |
Net occupancy expenses | 494 | 244 | 1,763 | 1,472 |
Equipment expenses | 450 | 453 | 1,344 | 1,377 |
Data processing fees | 373 | 326 | 1,180 | 1,081 |
Advertising and promotion | 387 | 386 | 993 | 1,095 |
ATM expense | 370 | 296 | 976 | 806 |
Deposit insurance | 239 | 251 | 779 | 891 |
Professional fees | 376 | 318 | 1,254 | 973 |
Software subscriptions and maintenance | 418 | 391 | 1,220 | 1,070 |
Other real estate and repossessed assets | 161 | 180 | 447 | 529 |
Other expenses | 1,052 | 1,073 | 3,090 | 3,355 |
Total other expenses | 10,408 | 9,200 | 30,507 | 29,014 |
Income Before Income Tax | 3,806 | 3,564 | 10,120 | 9,346 |
Income tax expense | 1,112 | 1,092 | 2,906 | 2,786 |
Net Income | 2,694 | 2,472 | 7,214 | 6,560 |
Preferred stock dividends and accretion | ' | 271 | ' | 911 |
Net Income Available to Common Shareholders | $2,694 | $2,201 | $7,214 | $5,649 |
Earnings Per Share | ' | ' | ' | ' |
Basic | $0.38 | $0.31 | $1.01 | $0.80 |
Diluted | $0.36 | $0.30 | $0.98 | $0.78 |
Dividends per common share | $0.08 | $0.06 | $0.22 | $0.18 |
Consolidated_Condensed_Stateme1
Consolidated Condensed Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $2,694 | $2,472 | $7,214 | $6,560 |
Other comprehensive income: | ' | ' | ' | ' |
Net unrealized holding gain (loss) on securities available-for-sale | -415 | -397 | 5,430 | -7,108 |
Net unrealized gain (loss) on securities available-for-sale for which a portion of an other-than-temporary impairment has been recognized in income | -4 | 2 | 835 | 467 |
Reclassification adjustment for realized gains included in net income | -75 | -453 | -436 | -835 |
Net unrealized gain on derivative used for cash flow hedges | 78 | 14 | 127 | 105 |
Other Comprehensive Income (Loss), before Tax, Total | -416 | -834 | 5,956 | -7,371 |
Income tax (expense) benefit related to other comprehensive income | 152 | 280 | -2,047 | 2,556 |
Other comprehensive income (loss) | -264 | -554 | 3,909 | -4,815 |
Comprehensive income (Loss) | $2,430 | $1,918 | $11,123 | $1,745 |
Consolidated_Condensed_Stateme2
Consolidated Condensed Statements of Stockholders' Equity (USD $) | Common Stock [Member] | Paid-in capital Common [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands | |||||
Beginning Balance at Dec. 31, 2013 | $71 | $73,336 | $41,650 | ($3,415) | $111,642 |
Net income | ' | ' | 7,214 | ' | 7,214 |
Other comprehensive income, net of taxes | ' | ' | ' | 3,909 | 3,909 |
Stock options, exercised | 1 | 950 | ' | ' | 951 |
Cash dividends, common stock ($.14 per share) | ' | ' | -1,574 | ' | -1,574 |
Ending Balance at Sep. 30, 2014 | $72 | $74,286 | $47,290 | $494 | $122,142 |
Consolidated_Condensed_Stateme3
Consolidated Condensed Statements of Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Statement Of Stockholders Equity [Abstract] | ' | ' | ' | ' |
Cash dividends, common stock, per share | $0.08 | $0.06 | $0.22 | $0.18 |
Consolidated_Condensed_Stateme4
Consolidated Condensed Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities | ' | ' |
Net income | $7,214 | $6,560 |
Items not requiring (providing) cash | ' | ' |
Provision for loan losses | 850 | 2,250 |
Depreciation and amortization | 3,162 | 3,683 |
Deferred income tax | 840 | 730 |
Loans originated for sale | -41,260 | -55,250 |
Proceeds from sales of loans held for sale | 37,424 | 59,623 |
Gain on sale of loans held for sale | -929 | -654 |
Gain on sale of securities - available for sale | -436 | -835 |
(Gain) loss on sale of other real estate and repossessed assets | 321 | 53 |
Loss on sale and disposal of premises and equipment | 127 | ' |
Prepaid FDIC premium | ' | 1,647 |
Change in | ' | ' |
Interest receivable and other assets | 318 | 368 |
Interest payable and other liabilities | 3,015 | 1,751 |
Cash value of life insurance | -866 | -942 |
Other equity adjustments | -1 | 341 |
Other adjustments | 415 | 378 |
Net cash provided by operating activities | 10,194 | 19,703 |
Purchases of securities | ' | ' |
Available for sale | -43,844 | -99,166 |
Proceeds from maturities and paydowns of securities | ' | ' |
Available for sale | 23,743 | 45,748 |
Proceeds from sales of securities - available for sale | 26,047 | 53,179 |
Net change in loans | -32,771 | -845 |
Purchases of premises and equipment | -669 | -754 |
Cash paid in acquisition, net | -900 | ' |
Proceeds from real estate owned sales | 3,246 | 3,113 |
Net cash provided by (used in) investing activities | -25,148 | 1,275 |
Net change in | ' | ' |
Noninterest-bearing, interest-bearing demand and savings deposits | 40,014 | 36,918 |
Certificates of deposit | -54,249 | -71,210 |
Proceeds from FHLB advances | 403,300 | 220,675 |
Repayment of FHLB advances | -377,705 | -198,622 |
Repayment of other borrowings | -569 | -569 |
Redemption of preferred stock | ' | -7,231 |
Cash dividends | -1,574 | -2,187 |
Other financing activities | 951 | 410 |
Net cash provided by (used in) financing activities | 10,168 | -21,816 |
Net Change in Cash and Cash Equivalents | -4,786 | -838 |
Cash and Cash Equivalents, Beginning of Year | 25,285 | 32,778 |
Cash and Cash Equivalents, End of Year | 20,499 | 31,940 |
Additional Cash Flows Information | ' | ' |
Interest paid | 6,548 | 8,579 |
Income tax paid | 1,200 | 1,800 |
Transfers from loans to foreclosed real estate | 1,620 | 2,770 |
Mortgage servicing rights capitalized | $213 | $394 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Basis of Presentation | ' |
Basis of Presentation | ' |
Note 1: Basis of Presentation | |
The consolidated condensed financial statements include the accounts of MutualFirst Financial, Inc. (MutualFirst or the “Company”), its wholly owned subsidiary MutualBank, an Indiana commercial bank (“Mutual” or the “Bank”), Mutual’s wholly owned subsidiaries, First MFSB Corporation, Mishawaka Financial Services, Summit Mortgage, Inc. (“Summit”), Mutual Federal Investment Company (“MFIC”), and MFIC majority owned subsidiary, Mutual Federal REIT, Inc. All significant inter-company accounts and transactions have been eliminated in consolidation. | |
Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K annual report for the year ended December 31, 2013, filed with the Securities and Exchange Commission on March 14, 2014. | |
The interim consolidated condensed financial statements at September 30, 2014, have not been audited by independent accountants, but in the opinion of management, reflect all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for such periods. The results of operations for the period are not necessarily indicative of the results to be expected for the full year. | |
The Consolidated Condensed Balance Sheet of the Company as of December 31, 2013 has been derived from the Audited Consolidated Balance Sheet of the Company as of that date. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Note 2: Earnings Per Share | ||||||||||||||||
Earnings per share were computed as follows: | ||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income | Weighted- Average Shares | Per-Share Amount | Income | Weighted- Average Shares | Per-Share Amount | |||||||||||
Basic Earnings Per Share | ||||||||||||||||
Net income | $ | 2,694 | 7,178,055 | $ | 2,472 | 7,088,660 | ||||||||||
Dividends and accretion on preferred stock | - | -271 | ||||||||||||||
Income available to common stockholders | 2,694 | 7,178,055 | $ | 0.38 | 2,201 | 7,088,660 | $ | 0.31 | ||||||||
Effect of Dilutive Securities | ||||||||||||||||
Stock options | - | 229,089 | - | 176,447 | ||||||||||||
Diluted Earnings Per Share | ||||||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,694 | 7,407,144 | $ | 0.36 | $ | 2,201 | 7,265,107 | $ | 0.30 | ||||||
Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income | Weighted- Average Shares | Per-Share Amount | Income | Weighted- Average Shares | Per-Share Amount | |||||||||||
Basic Earnings Per Share | ||||||||||||||||
Net income | $ | 7,214 | 7,143,597 | $ | 6,560 | 7,066,670 | ||||||||||
Dividends and accretion on preferred stock | - | -911 | ||||||||||||||
Income available to common stockholders | 7,214 | 7,143,597 | $ | 1.01 | 5,649 | 7,066,670 | $ | 0.80 | ||||||||
Effect of Dilutive Securities | ||||||||||||||||
Stock options | - | 230,147 | - | 172,205 | ||||||||||||
Diluted Earnings Per Share | ||||||||||||||||
Income available to common stockholders and assumed conversions | $ | 7,214 | 7,373,744 | $ | 0.98 | $ | 5,649 | 7,238,875 | $ | 0.78 | ||||||
Options to purchase 44,161 and 82,000 shares of common stock were outstanding at September 30, 2014 and 2013, respectively, but were not included in the computation of diluted EPS because the options’ exercise price was greater than the average market price of the common shares. | ||||||||||||||||
Impact_of_Accounting_Pronounce
Impact of Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
Impact of Accounting Pronouncements [Abstract] | ' |
Impact of Accounting Pronouncements | ' |
Note 3: Impact of Accounting Pronouncements | |
In August 2014, Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The Update provides U.S. GAAP guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and about related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. | |
The amendments in this Update are effective for annual reporting periods ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In August 2014, FASB, issued ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The objective of this Update is to reduce diversity in practice by addressing the classification of foreclosed mortgage loans that are fully or partially guaranteed under government programs. Currently, some creditors reclassify those loans to real estate as with other foreclosed loans that do not have guarantees; others reclassify the loans to other receivables. The amendments affect creditors that hold government-guaranteed mortgage loans, including those guaranteed by the FHA and the VA. | |
The amendments in this Update are effective for annual reporting periods ending after December 15, 2015 and interim periods beginning after December 15, 2015. An entity should adopt the amendments in this Update using either a prospective transition method or a modified retrospective transition method. For prospective transition, an entity should apply the amendments in this Update to foreclosures that occur after the date of adoption. For the modified retrospective transition, an entity should apply the amendments in the Update by means of a cumulative-effect adjustment (through a reclassification to a separate other receivable) as of the beginning of the annual period of adoption. Prior periods should not be adjusted. However, a reporting entity must apply the same method of transition as elected under ASU No. 2014-04. Early adoption, including adoption in an interim period, is permitted if the entity already has adopted Update 2014-04. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In June 2014, (FASB) issued (ASU) 2014-12 “Compensation – Stock Compensation”. This update defines the accounting treatment for share-based payments and “resolves the diverse accounting treatment of those awards in practice.” The new requirement mandates that “a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition.” Compensation cost will now be recognized in the period in which it becomes likely that the performance target will be met. | |
The amendments in this Update are effective for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In June 2014, FASB, issued ASU 2014-11 “Transfers and Servicing”. This update addresses the concerns of stakeholders’ by changing the accounting practices surrounding repurchase agreements. The new guidance changes the “accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements.” | |
The amendments in this Update are effective for annual reporting periods beginning after December 15, 2015. Early adoption is prohibited. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In May 2014, FASB, in joint cooperation with IASB, issued ASU 2014-09 “Revenue from Contracts with Customers”. The topic of Revenue Recognition had become broad, with several other regulatory agencies issuing standards which lacked cohesion. The new guidance establishes a “common framework” and “reduces the number of requirements to which an entity must consider in recognizing revenue” and yet provides improved disclosures to assist stakeholders reviewing financial statements. | |
The amendments in this Update are effective for annual reporting periods beginning after December 15, 2016. Early adoption is not permitted. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In April 2014, FASB issued ASU 2014-08 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”. This update seeks to better define the groups of assets which qualify for discontinued operations, in order to ease the burden and cost for prepares and stakeholders. This issue changed “the criteria for reporting discontinued operations” and related reporting requirements, including the provision for disclosures about the “disposal of and individually significant component of an entity that does not qualify for discontinued operations presentation.” | |
The amendments in this Update are effective for fiscal years beginning after December 15, 2014. Early adoption is permitted only for disposals or classifications as held for sale. The Company will adopt the methodologies prescribed by this ASU by the date required, and does not anticipate that the ASU will have a material effect on its financial position or results of operations. | |
In January 2014, FASB issued ASU 2014-04, "Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to reduce diversity by clarifying 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 ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. | |
In January 2014, the FASB issued ASU 2014-01, "Accounting for Investments in Qualified Affordable Housing Projects,” to permit entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The ASU modifies the conditions that an entity must meet to be eligible to use a method other than the equity or cost methods to account for qualified affordable housing project investments. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. | |
Recently the FASB and the Internal Accounting Standards Board (IASB) (the Boards) have published for public comment revised Exposure Drafts outlining proposed changes to the accounting for leases. The proposals aim to improve the quality and comparability of financial reporting by providing greater transparency about leverage, the assets an organization uses in its operations and the risks to which it is exposed from entering into leasing transactions. Under existing accounting standards, a majority of leases are not reported on a lessee’s balance sheet. The amounts involved can be substantial. Additionally, the existing accounting models for leases require lessees and lessors to classify their leases as either capital leases (e.g., a lease of equipment for nearly all of its economic life) or operating leases (e.g., a lease of office space for 10 years) and to account for those leases differently. | |
For capital leases, a lessee recognizes lease assets and liabilities on the balance sheet. For operating leases, a lessee does not recognize lease assets or liabilities on the balance sheet. The existing standards have been criticized for failing to meet the needs of users of financial statements because they do not always provide a complete representation of leasing transactions. In response to this criticism, in 2006 the Boards initiated a joint project to improve the financial reporting of leasing activities under International Financial Reporting Standards (IFRSs) and U.S. GAAP. The Boards have developed an approach to lease accounting that would require a lessee to recognize assets and liabilities for the rights and obligations created by leases. A lessee would recognize assets and liabilities for leases of more than 12 months. | |
Stakeholders have informed the Boards that there are a wide variety of lease transactions with different economics. To better reflect those differing economics, the revised Exposure Drafts propose a dual approach to the recognition, measurement, and presentation of expenses and cash flows arising from a lease. For most real estate leases, a lessee would report a straight-line lease expense in its income statement. For most other leases, such as equipment or vehicles, a lessee would report amortization of the asset separately from interest on the lease liability. The Boards are also proposing disclosures that should enable investors and other users of financial statements to understand the amount, timing, and uncertainty of cash flows arising from leases. | |
The leases project is a converged effort between the Boards. The revised Exposure Drafts for both organizations are nearly identical. The differences between the two proposals are primarily related to existing differences between U.S. GAAP and IFRS and decisions the FASB made related to nonpublic entities. | |
The Boards are also proposing changes to how equipment and vehicle lessors would account for leases that are off balance sheet. Those changes would provide greater transparency about such lessors’ exposure to credit risk and asset risk. | |
Comments were due by September 13, 2013. | |
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||||||||||
Note 4: Investment Securities | |||||||||||||||||||||||||||||||||
The amortized costs and approximate fair values, together with gross unrealized gains and losses on securities, are as follows: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 113,082 | $ | 2,269 | $ | -598 | $ | 114,753 | |||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 98,705 | 1,199 | -1,298 | 98,606 | |||||||||||||||||||||||||||||
Federal agencies | 4 | - | - | 4 | |||||||||||||||||||||||||||||
Municipal obligations | 27,259 | 1,711 | -15 | 28,955 | |||||||||||||||||||||||||||||
Corporate obligations | 24,150 | 94 | -2,506 | 21,738 | |||||||||||||||||||||||||||||
Total investment securities | $ | 263,200 | $ | 5,273 | $ | -4,417 | $ | 264,056 | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 104,006 | $ | 1,700 | $ | -2,189 | $ | 103,517 | |||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 108,305 | 1,207 | -1,934 | 107,578 | |||||||||||||||||||||||||||||
Federal agencies | 5,005 | - | -231 | 4,774 | |||||||||||||||||||||||||||||
Municipal obligations | 27,357 | 257 | -276 | 27,338 | |||||||||||||||||||||||||||||
Corporate obligations | 24,648 | 18 | -3,525 | 21,141 | |||||||||||||||||||||||||||||
Total investment securities | $ | 269,321 | $ | 3,182 | $ | -8,155 | $ | 264,348 | |||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale at September 30, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Description Securities | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||
Security obligations due | |||||||||||||||||||||||||||||||||
One to five years | $ | 9,598 | $ | 9,634 | |||||||||||||||||||||||||||||
Five to ten years | 10,778 | 10,864 | |||||||||||||||||||||||||||||||
After ten years | 31,037 | 30,199 | |||||||||||||||||||||||||||||||
51,413 | 50,697 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 113,082 | 114,753 | |||||||||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 98,705 | 98,606 | |||||||||||||||||||||||||||||||
Totals | $ | 263,200 | $ | 264,056 | |||||||||||||||||||||||||||||
The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was $0 and $2.5 million at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||||||||||
Proceeds from sales of securities available for sale for the three and nine months ended September 30, 2014 and 2013 were $2.8 million and $26.0 million compared to $21.7 million and $53.2 million, respectively. Gross gains of $75,000 and $643,000 compared to $436,000 and $898,000 for the three and nine months ended September 30, 2014 and 2013, respectively, were recognized on those sales. Gross losses of $0 and $207,000 compared to $0 and $63,000 for the three and nine months ended September 30, 2014 and 2013, respectively, were recognized on those sales. | |||||||||||||||||||||||||||||||||
All mortgage-backed securities and collateralized-mortgage obligations held by the Company as of September 30, 2014 were in government-sponsored or federal agency securities. | |||||||||||||||||||||||||||||||||
Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at September 30, 2014 and December 31, 2013 was $96.4 million and $147.8 million, which is approximately 36.5 percent and 55.9 percent of the Company’s investment portfolio at those dates. | |||||||||||||||||||||||||||||||||
Based on our evaluation of available evidence, including recent changes in market interest rates, management believes the declines in fair value for these securities, for the periods presented, are temporary. | |||||||||||||||||||||||||||||||||
Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. | |||||||||||||||||||||||||||||||||
During the first nine months of 2014 and 2013, the Bank determined that its holdings in trust preferred securities had no further other-than-temporary impairment. | |||||||||||||||||||||||||||||||||
The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 10,387 | $ | -98 | $ | 29,284 | $ | -500 | $ | 39,671 | $ | -598 | |||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 12,910 | -168 | 34,981 | -1,130 | 47,891 | -1,298 | |||||||||||||||||||||||||||
Federal agencies | 4 | - | - | - | 4 | - | |||||||||||||||||||||||||||
Municipal obligations | - | - | 623 | -15 | 623 | -15 | |||||||||||||||||||||||||||
Corporate obligations | - | - | 8,188 | -2,506 | 8,188 | -2,506 | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 23,301 | $ | -266 | $ | 73,076 | $ | -4,151 | $ | 96,377 | $ | -4,417 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 67,130 | $ | -2,189 | $ | - | $ | - | $ | 67,130 | $ | -2,189 | |||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 51,753 | -1,934 | - | - | $ | 51,753 | $ | -1,934 | |||||||||||||||||||||||||
Federal agencies | 4,769 | -231 | 4,769 | -231 | |||||||||||||||||||||||||||||
Municipal obligations | 11,264 | -245 | 741 | -31 | 12,005 | -276 | |||||||||||||||||||||||||||
Corporate obligations | 8,849 | -151 | 3,336 | -3,374 | 12,185 | -3,525 | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 143,765 | $ | -4,750 | $ | 4,077 | $ | -3,405 | $ | 147,842 | $ | -8,155 | |||||||||||||||||||||
Mortgage-Backed Securities (MBS), Collateralized Mortgage Obligations (CMO) and Federal Agencies | |||||||||||||||||||||||||||||||||
The unrealized losses on the Company’s investment in MBSs, CMOs and Federal Agencies were caused by interest rate changes. The Company expects to recover the amortized cost basis over the term of the securities. Because (1) the decline in market value is attributable to changes in interest rates and not credit quality, (2) the Company does not intend to sell the investments and (3) it is more likely than not the Company will not be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||||||||||
Corporate Obligations | |||||||||||||||||||||||||||||||||
The Company’s unrealized loss on investments in corporate obligations primarily relates to investments in pooled trust preferred securities. The unrealized losses were primarily caused by (1) a decrease in performance and regulatory capital resulting from exposure to subprime mortgages and (2) a sector downgrade by several industry analysts. The Company currently expects some of the securities to settle at a price less than the amortized cost basis of the investment (that is, the Company expects to recover less than the entire amortized cost basis of the security). The Company has recognized a loss equal to the credit loss for these securities, establishing a new, lower amortized cost basis. The credit loss was calculated by comparing expected discounted cash flows based on performance indicators of the underlying assets in the security to the carrying value of the investment. Because the Company does not intend to sell these investments and it is likely that the Company will not be required to sell the investments before recovery of its new, lower amortized cost basis, which may be at maturity, it does not consider the remainder of the investments to be other-than-temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||||||||||
Other-Than-Temporary Impairment (OTTI) | |||||||||||||||||||||||||||||||||
Upon acquisition of a security, the Company decides whether it is within the scope of the accounting guidance for beneficial interests in securitized financial assets or whether it will be evaluated for impairment under the accounting guidance for investments in debt and equity securities. | |||||||||||||||||||||||||||||||||
The accounting guidance for beneficial interests in securitized financial assets provides incremental impairment guidance for a subset of the debt securities within the scope of the guidance for investments in debt and equity securities. For securities that are a beneficial interest in securitized financial assets, the Company uses the beneficial interests in securitized financial asset impairment model. For securities where the security is not a beneficial interest in securitized financial assets, the Company uses debt and equity securities impairment model. | |||||||||||||||||||||||||||||||||
The Company conducts periodic reviews to identify and evaluate each investment security to determine whether an other-than-temporary impairment has occurred. Economic models are used to determine whether an other-than-temporary impairment has occurred on these securities. While all securities are considered, the securities primarily impacted by other-than-temporary impairment testing are private-label mortgage-backed securities and trust preferred securities. | |||||||||||||||||||||||||||||||||
MutualFirst Financial uses market-based yield indicators as a baseline for determining appropriate discount rates, and then adjusts the resulting discount rates on the basis of its credit and structural analysis of specific trust preferred securities. The primary focus is on the returns a fixed income investor would require in order to allocate capital on a risk adjusted basis. There is currently no active market for pooled trust preferred securities; however, the Company looks principally to market yields for stand-alone trust preferred securities issued by banks, thrifts and insurance companies for which there is an active and liquid market. The next step is to make a series of adjustments to reflect the differences that exist between these products (both credit and structural) and, most importantly, to reflect idiosyncratic credit performance differences (both actual and projected) between these products and the underlying collateral in the specific trust preferred security. Importantly, as part of the analysis described above, MutualFirst considers the fact that structured instruments frequently exhibit leverage not present in stand-alone instruments, and make adjustments as necessary to reflect this additional risk. | |||||||||||||||||||||||||||||||||
Credit Losses Recognized on Investments | |||||||||||||||||||||||||||||||||
Certain debt securities have experienced fair value deterioration due to credit losses, as well as due to other market factors, but are not otherwise other-than-temporarily impaired. | |||||||||||||||||||||||||||||||||
The following table provides information about debt securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income. | |||||||||||||||||||||||||||||||||
Accumulated Credit Losses | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Credit losses on debt securities held | |||||||||||||||||||||||||||||||||
Beginning of period | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Reductions related to actual losses incurred | - | - | |||||||||||||||||||||||||||||||
As of September 30, | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Accumulated Credit Losses | |||||||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Credit losses on debt securities held | |||||||||||||||||||||||||||||||||
Beginning of year | $ | 1,205 | $ | 1,205 | |||||||||||||||||||||||||||||
Reductions related to actual losses incurred | -500 | - | |||||||||||||||||||||||||||||||
As of September 30, | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Pooled Trust Preferred Securities. The Company has invested in pooled trust preferred securities. At September 30, 2014, the current book balance of our pooled trust preferred securities was $6.2 million. The original par value of these securities was $7.0 million prior to the OTTI write-downs in 2011 and earlier, based on valuations by a third party. OTTI taken on trust preferred securities previously was the result of deterioration in the performance of the underlying collateral. The deterioration was the result of increased defaults and deferrals of dividend payments in that year, creating credit impairment along with weakening financial performance of performing collateral, increasing the risk of future deferrals of dividends and defaults. No additional OTTI was determined in the first nine months of 2014. All pooled trust preferred securities owned by the Bank are exempt from the Volcker Rule. | |||||||||||||||||||||||||||||||||
The following table provides additional information related to the Bank’s investment in trust preferred securities as of September 30, 2014. | |||||||||||||||||||||||||||||||||
Deal Name | Class | Original Par | Book Value | Fair Value | Unrealized gain (loss) | Realized Losses | Lowest Ratings | Number of Banks / Insurance Cos. Currently Performing | Total Number of Banks and Insurance Cos. In Issuance (Unique) | Actual Deferrals/ | Total Projected Defaults | Excess subordination (after taking into account best estimate of future deferrals/ | |||||||||||||||||||||
YTD | Defaults | (as a % of performing collateral) (1) | defaults) (2) | ||||||||||||||||||||||||||||||
(as a % of original collateral) | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Alesco Preferred Funding IX | B+ | 1,000 | 909 | 559 | -350 | - | B2 | 41 | 52 | 14.69 | % | 15.78 | % | 54.50 | % | ||||||||||||||||||
Preferred Term Securities XIII | Caa1 | 1,000 | 767 | 423 | -344 | - | Ca | 44 | 61 | 25.75 | % | 20.21 | % | 4.36 | % | ||||||||||||||||||
Preferred Term Securities XVIII | Ca | 1,000 | 917 | 430 | -487 | - | Ca | 52 | 72 | 22.51 | % | 10.03 | % | 6.43 | % | ||||||||||||||||||
Preferred Term Securities XXVII | Caa3 | 1,000 | 710 | 386 | -324 | - | C | 33 | 46 | 22.62 | % | 16.29 | % | 10.02 | % | ||||||||||||||||||
U.S. Capital Funding I | B3 | 3,000 | 2,891 | 1,936 | -955 | - | Caa1 | 28 | 33 | 9.44 | % | 8.60 | % | 8.90 | % | ||||||||||||||||||
$ | 7,000 | $ | 6,194 | $ | 3,734 | $ | -2,460 | $ | - | ||||||||||||||||||||||||
(1) A 10% recovery is applied to all projected defaults by depository institutions. A 15% recovery is applied to all projected defaults by insurance companies. No recovery is applied to current defaults. | |||||||||||||||||||||||||||||||||
(2) Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. | |||||||||||||||||||||||||||||||||
Note 1: | |||||||||||||||||||||||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
Note 5: Accumulated Other Comprehensive Income (Loss) | |||||||||
The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Net unrealized gain (loss) on securities available-for-sale | $ | 2,966 | $ | -2,029 | |||||
Net unrealized loss on securities available-for-sale for which a portion of an other-than-temporary impairment has been recognized in income | -2,110 | -2,945 | |||||||
Net unrealized loss on derivative used for cash flow hedges | -132 | -259 | |||||||
Net unrealized gain relating to defined benefit plan liability | 100 | 100 | |||||||
824 | -5,133 | ||||||||
Tax expense (benefit) | 330 | -1,718 | |||||||
Net of tax amount | $ | 494 | $ | -3,415 | |||||
The following table presents the reclassification adjustments out of accumulated other comprehensive income (loss) that were included in net income in the Consolidated Statements of Income for the three months ended September 30, 2014 and 2013. | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income For the Three Months Ended September 30, | |||||||||
Details about Accumulated Other Comprehensive Income Components | 2014 | 2013 | Affected Line Item in the Statements of Income | ||||||
Unrealized gains (losses) on available-for-sale securities | |||||||||
Realized securities gains reclassified into income | $ | 75 | $ | 453 | Other income - net realized gains on sale of available-for-sale securities | ||||
Related income tax expense | -26 | -154 | Income tax expense | ||||||
Total reclassifications for the period, net of tax | $ | 49 | $ | 299 | |||||
Amount Reclassified from Accumulated Other Comprehensive Income For the Nine Months Ended September 30, | |||||||||
Details about Accumulated Other Comprehensive Income Components | 2014 | 2013 | Affected Line Item in the Statements of Income | ||||||
Unrealized gains (losses) on available-for-sale securities | |||||||||
Realized securities gains reclassified into income | $ | 436 | $ | 835 | Other income - net realized gains on sale of available-for-sale securities | ||||
Related income tax expense | -148 | -284 | Income tax expense | ||||||
Total reclassifications for the period, net of tax | $ | 288 | $ | 551 | |||||
Fair_Values_of_Financial_Instr
Fair Values of Financial Instruments | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Values of Financial Instruments [Abstract] | ' | |||||||||||||||
Fair Values of Financial Instruments | ' | |||||||||||||||
Note 6: Fair Values of Financial Instruments | ||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: | ||||||||||||||||
Level 1Quoted prices in active markets for identical assets or liabilities | ||||||||||||||||
Level 2Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | ||||||||||||||||
Level 3Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities | ||||||||||||||||
Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||
Following is a description of the valuation methodologies and inputs used for instruments measured at fair value on a recurring basis and recognized in the accompanying comparative balance sheet, as well as the general classification of such instruments pursuant to the valuation hierarchy. | ||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. The Company uses a third-party provider to provide market prices on its securities. Prices are evaluated by a third party. Level 1 securities include marketable equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include mortgage-backed, collateralized mortgage obligations, small business administration, marketable equity, municipal, federal agency and certain corporate obligation securities. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and include certain corporate obligation securities. | ||||||||||||||||
Third party vendors compile prices from various sources and may apply such techniques as matrix pricing to determine the value of identical or similar investment securities (Level 2). Matrix pricing is a mathematical technique widely used in the banking industry to value investment securities without relying exclusively on quoted prices for specific investment securities but rather relying on investment securities relationship to other benchmark quoted investment securities. Any investment security not valued based upon the methods above are considered Level 3. | ||||||||||||||||
The following table presents the fair value measurements of assets measured at fair value on a recurring basis and level within the ASC 820 fair value hierarchy in which the fair value measurements fall: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
30-Sep-14 | ||||||||||||||||
Mortgage-backed securities | ||||||||||||||||
Government sponsored agencies | $ | 114,753 | $ | - | $ | 114,753 | $ | - | ||||||||
Collateralized mortgage obligations | ||||||||||||||||
Government sponsored agencies | 98,606 | - | 98,606 | - | ||||||||||||
Federal agencies | 4 | - | 4 | - | ||||||||||||
Municipal obligations | 28,955 | - | 28,955 | - | ||||||||||||
Corporate obligations | 21,738 | - | 18,004 | 3,734 | ||||||||||||
Available-for-sale securities | $ | 264,056 | $ | - | $ | 260,322 | $ | 3,734 | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
31-Dec-13 | ||||||||||||||||
Mortgage-backed securities | ||||||||||||||||
Government sponsored agencies | $ | 103,517 | $ | - | $ | 103,517 | $ | - | ||||||||
Collateralized mortgage obligations | ||||||||||||||||
Government sponsored agencies | 107,578 | - | 107,578 | - | ||||||||||||
Federal agencies | 4,774 | - | 4,774 | - | ||||||||||||
Municipal obligations | 27,338 | - | 27,338 | - | ||||||||||||
Corporate obligations | 21,141 | - | 17,805 | 3,336 | ||||||||||||
Available-for-sale securities | $ | 264,348 | $ | - | $ | 261,012 | $ | 3,336 | ||||||||
The following is a reconciliation of the beginning and ending balances for the three months ended September 30, 2014 and 2013 of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs: | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | $ | 3,738 | $ | 3,000 | ||||||||||||
Total realized and unrealized gains (losses) | ||||||||||||||||
Included in net income | - | - | ||||||||||||||
Included in other comprehensive income (loss) | -4 | 1 | ||||||||||||||
Purchases, sales, issuances and settlements | - | -30 | ||||||||||||||
Ending balance | $ | 3,734 | $ | 2,971 | ||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $ | 0 | $ | 0 | ||||||||||||
The following is a reconciliation of the beginning and ending balances for the nine months ended September 30, 2014 and 2013 of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs: | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | $ | 3,336 | $ | 2,475 | ||||||||||||
Total realized and unrealized gains (losses) | ||||||||||||||||
Included in net income | 56 | - | ||||||||||||||
Included in other comprehensive income (loss) | 916 | 526 | ||||||||||||||
Purchases, issuances and settlements | -574 | -30 | ||||||||||||||
Ending balance | $ | 3,734 | $ | 2,971 | ||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $ | 0 | $ | 0 | ||||||||||||
Items Measured at Fair Value on a Non-Recurring Basis | ||||||||||||||||
From time to time, certain assets may be recorded at fair value on a non-recurring basis. These non-recurring fair value adjustments typically are a result of the application of lower of cost or fair value accounting or a write-down occurring during the period. The following is a description of the valuation methodologies used for certain assets that are recorded at fair value. | ||||||||||||||||
Impaired Loans (Collateral Dependent) | ||||||||||||||||
Loans for which it is probable that the Bank will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment include estimating fair value using the fair value of the collateral for collateral dependent loans. | ||||||||||||||||
If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. | ||||||||||||||||
Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. | ||||||||||||||||
Other Real Estate Owned | ||||||||||||||||
The fair value of real estate is generally determined based on appraisals by qualified licensed appraisers. The appraisers typically determine the value of the real estate by utilizing an income or market valuation approach. If an appraisal is not available, the fair value may be determined by using a cash flow analysis. | ||||||||||||||||
Other real estate owned is classified within Level 3 of the fair value hierarchy. | ||||||||||||||||
Mortgage-Servicing Rights | ||||||||||||||||
We initially measure our mortgage servicing rights at fair value, and amortize them over the period of estimated net servicing income. They are periodically assessed for impairment based on fair value at the reporting date. Mortgage-servicing rights do not trade in an active market with readily observable prices. Accordingly, the fair value is estimated based on a valuation model which calculates the present value of estimated future net servicing income. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimates of prepayment speeds, market discount rates, cost to service, float earnings rates and other ancillary income, including late fees. The fair value measurements are classified as Level 3. | ||||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the ASC 820 fair value hierarchy in which the fair value measurements fall: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
30-Sep-14 | ||||||||||||||||
Other real estate owned | $ | 251 | $ | - | $ | - | $ | 251 | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
31-Dec-13 | ||||||||||||||||
Impaired loans | $ | 925 | $ | - | $ | - | $ | 925 | ||||||||
Other real estate owned | 1,677 | - | - | 1,677 | ||||||||||||
Mortgage-servicing rights | 2,106 | - | - | 2,106 | ||||||||||||
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements. | ||||||||||||||||
30-Sep-14 | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||
Trust Preferred Securities | $ | 3,734 | Discounted cash flow | Discount rate | 8.0-14.0 | % | ||||||||||
Constant prepayment rate | 2.0 | % | ||||||||||||||
Cumulative projected prepayments | 40.0 | % | ||||||||||||||
Probability of default | 1.8-2.8 | % | ||||||||||||||
Projected cures given deferral | 0-15.0 | % | ||||||||||||||
Loss severity | 35.4-70.4 | % | ||||||||||||||
Other real estate owned | $ | 251 | Third party valuations | Discount to reflect realizable value less estimated selling costs | 10.0-36.7 | % | ||||||||||
31-Dec-13 | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||
Trust Preferred Securities | $ | 3,336 | Discounted cash flow | Discount rate | 10.0-17.0 | % | ||||||||||
Constant prepayment rate | 2.0 | % | ||||||||||||||
Cumulative projected prepayments | 40.0 | % | ||||||||||||||
Probability of default | 1.5-2.7 | % | ||||||||||||||
Projected cures given deferral | 0-15.0 | % | ||||||||||||||
Loss severity | 46.9-73.7 | % | ||||||||||||||
Impaired loans (collateral dependent) | $ | 925 | Third party valuations | Discount to reflect realizable value | 7.3-78.3 | % | ||||||||||
Other real estate owned | $ | 1,677 | Third party valuations | Discount to reflect realizable value less estimated selling costs | 0-25.0 | % | ||||||||||
Mortgage-servicing rights | $ | 2,106 | Third party valuations | Prepayment speeds | 105-700 | % | ||||||||||
Discount rates | 10.0 | % | ||||||||||||||
Servicing fee | 0.25 | % | ||||||||||||||
The following methods and assumptions were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value: | ||||||||||||||||
Cash and Cash Equivalents - The fair value of cash and cash-equivalents approximates carrying value. | ||||||||||||||||
Loans Held For Sale - Fair values are based on quoted market prices. | ||||||||||||||||
Loans - The fair value for loans is estimated using discounted cash flow analyses using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. | ||||||||||||||||
FHLB Stock - Fair value of FHLB stock is based on the price at which it may be resold to the FHLB. | ||||||||||||||||
Interest Receivable/Payable - The fair values of interest receivable/payable approximate carrying values. | ||||||||||||||||
Deposits - The fair values of noninterest-bearing, interest-bearing demand and savings accounts are equal to the amount payable on demand at the balance sheet date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on such time deposits. | ||||||||||||||||
FHLB Advances - The fair value of these borrowings is estimated using a discounted cash flow calculation, based on current rates for similar debt for periods comparable to the remaining terms to maturity of these advances. | ||||||||||||||||
Other Borrowings - The fair value of these borrowings is estimated using discounted cash flow analyses using interest rates for similar financial instruments. | ||||||||||||||||
Off-Balance Sheet Commitments - Commitments include commitments to purchase and originate mortgage loans, commitments to sell mortgage loans, and standby letters of credit and are generally of a short-term nature. The fair values of such commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these instruments is insignificant. | ||||||||||||||||
The estimated fair values of the Company’s financial instruments not carried at fair value in the consolidated balance sheets as of the dates noted below are as follows: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
30-Sep-14 | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 20,499 | $ | 20,499 | $ | 20,499 | $ | - | $ | - | ||||||
Loans held for sale | 6,440 | 6,523 | - | 6,523 | - | |||||||||||
Loans, net | 995,468 | 993,302 | - | - | 993,302 | |||||||||||
FHLB stock | 14,391 | 14,391 | - | 14,391 | - | |||||||||||
Interest receivable | 3,665 | 3,665 | - | 3,665 | - | |||||||||||
Liabilities | ||||||||||||||||
Deposits | 1,098,849 | 1,061,159 | 636,955 | - | 424,204 | |||||||||||
FHLB advances | 168,523 | 167,425 | - | 167,425 | - | |||||||||||
Other borrowings | 10,353 | 10,353 | - | 10,353 | - | |||||||||||
Interest payable | 278 | 278 | - | 278 | - | |||||||||||
Fair Value Measurements Using | ||||||||||||||||
31-Dec-13 | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 25,285 | $ | 25,285 | $ | 25,285 | $ | - | $ | - | ||||||
Loans held for sale | 1,888 | 1,905 | - | 1,905 | - | |||||||||||
Loans, net | 965,966 | 935,414 | - | - | 935,414 | |||||||||||
FHLB stock | 14,391 | 14,391 | - | 14,391 | - | |||||||||||
Interest receivable | 3,775 | 3,775 | - | 3,775 | - | |||||||||||
Liabilities | ||||||||||||||||
Deposits | 1,113,084 | 1,068,422 | 593,457 | - | 474,965 | |||||||||||
FHLB advances | 142,928 | 141,526 | - | 141,526 | - | |||||||||||
Other borrowings | 10,890 | 10,890 | - | 10,890 | - | |||||||||||
Interest payable | 157 | 157 | - | 157 | - | |||||||||||
Loans_and_Allowance
Loans and Allowance | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Loans and Allowance [Abstract] | ' | ||||||||||||||||||||
Loans and Allowance | ' | ||||||||||||||||||||
Note 7: Loans and Allowance | |||||||||||||||||||||
Classes of loans at September 30, 2014 and December 31, 2013 include: | |||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 192,534 | $ | 200,817 | |||||||||||||||||
Commercial construction and development | 29,267 | 13,321 | |||||||||||||||||||
Consumer closed end first mortgage | 519,312 | 531,272 | |||||||||||||||||||
Consumer open end and junior liens | 71,001 | 69,354 | |||||||||||||||||||
812,114 | 814,764 | ||||||||||||||||||||
Other loans | |||||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 14,464 | 14,856 | |||||||||||||||||||
Boat/RVs | 95,093 | 79,419 | |||||||||||||||||||
Other | 5,363 | 5,766 | |||||||||||||||||||
Commercial and industrial | 87,663 | 75,402 | |||||||||||||||||||
202,583 | 175,443 | ||||||||||||||||||||
Total loans | 1,014,697 | 990,207 | |||||||||||||||||||
Undisbursed loans in process | -9,425 | -13,346 | |||||||||||||||||||
Unamortized deferred loan costs, net | 3,445 | 2,517 | |||||||||||||||||||
Allowance for loan losses | -13,249 | -13,412 | |||||||||||||||||||
Net loans | $ | 995,468 | $ | 965,966 | |||||||||||||||||
The risk characteristics of each loan portfolio segment are as follows: | |||||||||||||||||||||
Commercial | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. As a general rule, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. | |||||||||||||||||||||
Construction and Development | |||||||||||||||||||||
Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews, sensitivity analyses of absorption and lease rates and financial analyses of the developers and property owners. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. | |||||||||||||||||||||
Commercial and Industrial | |||||||||||||||||||||
Commercial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. | |||||||||||||||||||||
Consumer Real Estate and Other Consumer Loans | |||||||||||||||||||||
With respect to residential loans that are secured by consumer closed end first mortgages and are primarily owner occupied, the Company generally establishes a maximum loan-to-value ratio and requires PMI if that ratio is exceeded. Consumer open end and junior lien loans are typically secured by a subordinate interest in 1-4 family residences, and other consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. | |||||||||||||||||||||
Nonaccrual Loans and Past Due Loans | |||||||||||||||||||||
Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual status when, in managements’ opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions, but never greater than 90 days past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |||||||||||||||||||||
All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured and generally only after nine months of satisfactory performance. | |||||||||||||||||||||
Nonaccrual loans, segregated by class of loans, as of September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 2,073 | $ | 1,349 | |||||||||||||||||
Commercial construction and development | 613 | 1,103 | |||||||||||||||||||
Consumer closed end first mortgage | 4,334 | 4,057 | |||||||||||||||||||
Consumer open end and junior liens | 199 | 421 | |||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 1 | 10 | |||||||||||||||||||
Boat/RVs | 289 | 339 | |||||||||||||||||||
Other | 51 | 12 | |||||||||||||||||||
Commercial and industrial | 637 | 1,109 | |||||||||||||||||||
$ | 8,197 | $ | 8,400 | ||||||||||||||||||
Nonaccrual commercial and consumer closed end first mortgage loans increased due to three new loans that went on non-accrual during the quarter. Management continues to monitor these and all other nonaccrual loans. | |||||||||||||||||||||
An age analysis of the Company’s past due loans, segregated by class of loans, as of September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Loans Receivable | Total Loans 90 Days or More and Accruing | |||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 1,294 | $ | 8 | $ | 1,541 | $ | 2,843 | $ | 189,691 | $ | 192,534 | $ | - | |||||||
Commercial construction and development | - | - | 457 | 457 | 28,810 | 29,267 | - | ||||||||||||||
Consumer closed end first mortgage | 6,260 | 1,217 | 2,971 | 10,448 | 508,864 | 519,312 | 217 | ||||||||||||||
Consumer open end and junior liens | 257 | 563 | 129 | 949 | 70,052 | 71,001 | - | ||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 49 | - | - | 49 | 14,415 | 14,464 | - | ||||||||||||||
Boat/RVs | 1,004 | 115 | 169 | 1,288 | 93,805 | 95,093 | - | ||||||||||||||
Other | 31 | 28 | 5 | 64 | 5,299 | 5,363 | - | ||||||||||||||
Commercial and industrial | 207 | 202 | 464 | 873 | 86,790 | 87,663 | - | ||||||||||||||
$ | 9,102 | $ | 2,133 | $ | 5,736 | $ | 16,971 | $ | 997,726 | $ | 1,014,697 | $ | 217 | ||||||||
31-Dec-13 | |||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Loans Receivable | Total Loans 90 Days or More and Accruing | |||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 763 | $ | 196 | $ | 1,196 | $ | 2,155 | $ | 198,662 | $ | 200,817 | $ | - | |||||||
Commercial construction and development | 333 | - | 915 | 1,248 | 12,073 | 13,321 | - | ||||||||||||||
Consumer closed end first mortgage | 11,680 | 2,122 | 3,515 | 17,317 | 513,955 | 531,272 | 175 | ||||||||||||||
Consumer open end and junior liens | 609 | 185 | 394 | 1,188 | 68,166 | 69,354 | - | ||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 54 | 8 | 9 | 71 | 14,785 | 14,856 | - | ||||||||||||||
Boat/RVs | 1,410 | 262 | 202 | 1,874 | 77,545 | 79,419 | 13 | ||||||||||||||
Other | 61 | 3 | - | 64 | 5,702 | 5,766 | - | ||||||||||||||
Commercial and industrial | 67 | 393 | 531 | 991 | 74,411 | 75,402 | - | ||||||||||||||
$ | 14,977 | $ | 3,169 | $ | 6,762 | $ | 24,908 | $ | 965,299 | $ | 990,207 | $ | 188 | ||||||||
Impaired Loans | |||||||||||||||||||||
Loans are considered impaired in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans but also include loans modified in troubled debt restructurings where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. | |||||||||||||||||||||
Interest on impaired loans is recorded based on the performance of the loan. All interest received on impaired loans that are on nonaccrual is accounted for on the cash-basis method until qualifying for return to accrual. Interest is accrued per the contract for impaired loans that are performing. | |||||||||||||||||||||
The following tables present impaired loans as of September 30, 2014 and 2013 and the year ended December 31, 2013: | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans - Quarter | Average Investment in Impaired Loans - YTD | Interest Income Recognized - Quarter | Interest Income Recognized - YTD | |||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 4,088 | $ | 4,088 | $ | - | $ | 3,475 | $ | 3,262 | $ | 38 | $ | 102 | |||||||
Commercial construction and development | $ | 1,196 | $ | 2,567 | $ | - | $ | 1,235 | $ | 1,421 | $ | 7 | $ | 23 | |||||||
Consumer closed end first mortgage | $ | 1,639 | $ | 1,639 | $ | - | $ | 1,243 | $ | 1,144 | $ | 1 | $ | 6 | |||||||
Consumer open end and junior liens | $ | - | $ | - | $ | - | $ | - | $ | 125 | $ | - | $ | 3 | |||||||
Commercial and industrial | $ | 1,659 | $ | 1,659 | $ | - | $ | 1,203 | $ | 1,189 | $ | - | $ | 11 | |||||||
There were no loans with a specific valuation allowance as of September 30, 2014. | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans | Interest Income Recognized | |||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,148 | $ | 3,660 | $ | - | $ | 3,894 | $ | 160 | |||||||||||
Commercial construction and development | 1,294 | 3,218 | - | 5,386 | 46 | ||||||||||||||||
Consumer closed end first mortgage | 1,483 | 2,071 | - | 2,582 | 33 | ||||||||||||||||
Commercial and industrial | 764 | 764 | - | 897 | 2 | ||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial construction and development | 344 | 371 | 100 | 344 | - | ||||||||||||||||
Commercial and industrial | 424 | 624 | 235 | 566 | 20 | ||||||||||||||||
Total | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,148 | $ | 3,660 | $ | - | $ | 3,894 | $ | 160 | |||||||||||
Commercial construction and development | $ | 1,638 | $ | 3,589 | $ | 100 | $ | 5,730 | $ | 46 | |||||||||||
Consumer closed end first mortgage | $ | 1,483 | $ | 2,071 | $ | - | $ | 2,582 | $ | 33 | |||||||||||
Commercial and industrial | $ | 1,188 | $ | 1,388 | $ | 235 | $ | 1,463 | $ | 22 | |||||||||||
30-Sep-13 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans - Quarter | Average Investment in Impaired Loans - YTD | Interest Income Recognized - Quarter | Interest Income Recognized - YTD | |||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 2,894 | $ | 3,958 | $ | - | $ | 2,953 | $ | 3,545 | $ | 40 | $ | 109 | |||||||
Commercial construction and development | 3,331 | 7,332 | - | 4,782 | 6,112 | 23 | 57 | ||||||||||||||
Consumer closed end first mortgage | 1,700 | 2,639 | - | 2,167 | 2,732 | 11 | 45 | ||||||||||||||
Consumer open end and junior liens | 250 | 250 | - | 250 | 125 | 1 | 3 | ||||||||||||||
Commercial and industrial | 679 | 679 | - | 798 | 876 | 10 | 18 | ||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 204 | 204 | 100 | 205 | 206 | 3 | 9 | ||||||||||||||
Commercial construction and development | 622 | 2,020 | 200 | 622 | 640 | - | - | ||||||||||||||
Commercial and industrial | 424 | 624 | 235 | 429 | 601 | 6 | 15 | ||||||||||||||
Total | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,098 | $ | 4,162 | $ | 100 | $ | 3,158 | $ | 3,751 | $ | 43 | $ | 118 | |||||||
Commercial construction and development | $ | 3,953 | $ | 9,352 | $ | 200 | $ | 5,404 | $ | 6,752 | $ | 23 | $ | 57 | |||||||
Consumer closed end first mortgage | $ | 1,700 | $ | 2,639 | $ | - | $ | 2,167 | $ | 2,732 | $ | 11 | $ | 45 | |||||||
Consumer open end and junior liens | $ | 250 | $ | 250 | $ | - | $ | 250 | $ | 125 | $ | 1 | $ | 3 | |||||||
Commercial and industrial | $ | 1,103 | $ | 1,303 | $ | 235 | $ | 1,227 | $ | 1,477 | $ | 16 | $ | 33 | |||||||
The following information presents the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of September 30, 2014. | |||||||||||||||||||||
Commercial Loan Grades | |||||||||||||||||||||
Definition of Loan Grades. Loan grades are numbered 1 through 8. Grades 1-4 are "pass" credits, grade 5 [Special Mention] loans are "criticized" assets, and grades 6 [Substandard], 7 [Doubtful] and 8 [Loss] are "classified" assets. The use and application of these grades by the Bank conform to the Bank's policy and regulatory definitions. | |||||||||||||||||||||
Pass. Pass credits are loans in grades prime through fair. These are at least considered to be credits with acceptable risks and would be granted in the normal course of lending operations. | |||||||||||||||||||||
Special Mention. Special mention credits have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credits or in the Bank’s credit position at some future date. If weaknesses cannot be identified, classifying as special mention is not appropriate. Special mention credits are not adversely classified and do not expose the Bank to sufficient risk to warrant an adverse classification. No apparent loss of principal or interest is expected. | |||||||||||||||||||||
Substandard. Substandard credits are inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged. Financial statements normally reveal some or all of the following: poor trends, lack of earnings and cash flow, excessive debt, lack of liquidity, and the absence of creditor protection. Credits so classified must have a well-defined weakness, or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss of the deficiencies are not corrected. | |||||||||||||||||||||
Doubtful. A doubtful extension of credit has all the weaknesses inherent in a substandard asset with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors that may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. Doubtful classification for an entire credit should be avoided when collection of a specific portion appears highly probable with the adequately secured portion graded Substandard. | |||||||||||||||||||||
Retail Loan Grades | |||||||||||||||||||||
Pass. Pass credits are loans that are currently performing as agreed and are not troubled debt restructurings. | |||||||||||||||||||||
Special Mention. Special mention credits have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credits or in the Bank’s credit position at some future date. If weaknesses cannot be identified, classifying as special mention is not appropriate. Special mention credits are not adversely classified and do not expose the Bank to sufficient risk to warrant an adverse classification. No apparent loss of principal or interest is expected. | |||||||||||||||||||||
Substandard. Substandard credits are loans that have reason to be considered to have a weakness and placed on non-accrual. This would include all retail loans over 90 days and troubled debt restructurings. | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Real Estate | Construction and Development | Commercial and Industrial | ||||||||||||||||||
Pass | $ | 181,595 | $ | 25,890 | $ | 82,821 | |||||||||||||||
Special Mention | 3,329 | 1,728 | 368 | ||||||||||||||||||
Substandard | 7,610 | 1,649 | 4,010 | ||||||||||||||||||
Doubtful | - | - | 464 | ||||||||||||||||||
Total | $ | 192,534 | $ | 29,267 | $ | 87,663 | |||||||||||||||
Consumer Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Closed End First Mortgage | Real Estate Open End and Junior Liens | Auto | Boat/RV | Other | ||||||||||||||||
Pass | $ | 510,555 | $ | 70,683 | $ | 14,454 | $ | 94,598 | $ | 5,280 | |||||||||||
Special Mention | 1,719 | - | - | - | - | ||||||||||||||||
Substandard | 7,038 | 318 | 10 | 495 | 83 | ||||||||||||||||
Total | $ | 519,312 | $ | 71,001 | $ | 14,464 | $ | 95,093 | $ | 5,363 | |||||||||||
31-Dec-13 | |||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Real Estate | Construction and Development | Commercial and Industrial | ||||||||||||||||||
Pass | $ | 190,041 | $ | 9,910 | $ | 73,648 | |||||||||||||||
Special Mention | 3,308 | 1,659 | 223 | ||||||||||||||||||
Substandard | 7,468 | 1,752 | 1,000 | ||||||||||||||||||
Doubtful | - | - | 531 | ||||||||||||||||||
Total | $ | 200,817 | $ | 13,321 | $ | 75,402 | |||||||||||||||
Consumer Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Closed End First Mortgage | Real Estate Open End and Junior Liens | Auto | Boat/RV | Other | ||||||||||||||||
Pass | $ | 522,352 | $ | 68,445 | $ | 14,834 | $ | 78,863 | $ | 5,415 | |||||||||||
Special Mention | 1,783 | - | - | - | - | ||||||||||||||||
Substandard | 7,137 | 909 | 22 | 556 | 351 | ||||||||||||||||
Total | $ | 531,272 | $ | 69,354 | $ | 14,856 | $ | 79,419 | $ | 5,766 | |||||||||||
Allowance for Loan Losses. | |||||||||||||||||||||
We maintain an allowance for loan losses to absorb losses inherent in the loan portfolio. The allowance is based on ongoing, quarterly assessments of the estimated losses inherent in the loan portfolio. Our methodology for assessing the appropriateness of the allowance consists of several key elements, including the general allowance and specific allowances for identified problem loans and portfolio segments. In addition, the allowance incorporates the results of measuring impaired loans as provided in FASB ASC 310, Receivables. These accounting standards prescribe the measurement methods, income recognition and disclosures related to impaired loans. The general allowance is calculated by applying loss factors to outstanding loans based on the internal risk evaluation of such loans or pools of loans. Changes in risk evaluations of both performing and nonperforming loans affect the amount of the general allowance. Loss factors are based on our historical loss experience as well as on significant factors that, in management’s judgment, affect the collectability of the portfolio as of the evaluation date. | |||||||||||||||||||||
The appropriateness of the allowance is reviewed by management based upon its evaluation of then-existing economic and business conditions affecting our key lending areas and other conditions, such as credit quality trends (including trends in non-performing loans expected to result from existing conditions), collateral values, loan volumes and concentrations, specific industry conditions within portfolio segments and recent loss experience in particular segments of the portfolio that existed as of the balance sheet date and the impact that such conditions were believed to have had on the collectability of the loan. Senior management reviews these conditions quarterly in discussions with our senior credit officers. To the extent that any of these conditions is evidenced by a specifically identifiable problem credit or portfolio segment as of the evaluation date, management’s estimate of the effect of such condition may be reflected as a specific allowance applicable to such credit or portfolio segment. Where any of these conditions is not evidenced by a specifically identifiable problem credit or portfolio segment as of the evaluation date, management’s evaluation of the loss related to this condition is reflected in the general allowance for loan losses. The evaluation of the inherent loss with respect to these conditions is subject to a higher degree of uncertainty because they are not identified with specific problem credits or portfolio segments. | |||||||||||||||||||||
The allowance for loan losses is based on estimates of losses inherent in the loan portfolio. Actual losses can vary significantly from the estimated amounts. Our methodology as described permits adjustments to any loss factor used in the computation of the general allowance in the event that, in management’s judgment, significant factors which affect the collectability of the portfolio as of the evaluation date are not reflected in the loss factors. By assessing the probable incurred losses inherent in the loan portfolio on a quarterly basis, we are able to adjust specific and inherent loss estimates based upon any more recent information that has become available. | |||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the three and nine month periods ended September 30, 2014 and 2013 and year ended December 31, 2013. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other segments. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of period | $ | 7,763 | $ | 3,344 | $ | 2,136 | $ | 13,243 | |||||||||||||
Provision charged to expense | -914 | 935 | -21 | - | |||||||||||||||||
Losses charged off | - | -141 | -49 | -190 | |||||||||||||||||
Recoveries | 105 | 23 | 68 | 196 | |||||||||||||||||
Balance, end of period | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Provision charged to expense | -1,101 | 1,400 | 551 | 850 | |||||||||||||||||
Losses charged off | -244 | -391 | -767 | -1,402 | |||||||||||||||||
Recoveries | 151 | 28 | 210 | 389 | |||||||||||||||||
Balance, end of period | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Ending balance: | |||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Collectively evaluated for impairment | 6,954 | 4,161 | 2,134 | 13,249 | |||||||||||||||||
Total allowance for loan losses | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Loans: | |||||||||||||||||||||
Ending balance | |||||||||||||||||||||
Individually evaluated for impairment | $ | 6,943 | $ | 1,639 | $ | - | $ | 8,582 | |||||||||||||
Collectively evaluated for impairment | 302,521 | 517,673 | 185,921 | 1,006,115 | |||||||||||||||||
Total Loans | $ | 309,464 | $ | 519,312 | $ | 185,921 | $ | 1,014,697 | |||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 9,908 | $ | 3,394 | $ | 2,736 | $ | 16,038 | |||||||||||||
Provision charged to expense | 884 | 343 | 73 | 1,300 | |||||||||||||||||
Losses charged off | -2,713 | -886 | -940 | -4,539 | |||||||||||||||||
Recoveries | 69 | 273 | 271 | 613 | |||||||||||||||||
Balance, end of period | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Ending balance: | |||||||||||||||||||||
Individually evaluated for impairment | $ | 335 | $ | - | $ | - | $ | 335 | |||||||||||||
Collectively evaluated for impairment | 7,813 | 3,124 | 2,140 | 13,077 | |||||||||||||||||
Total allowance for loan losses | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Loans: | |||||||||||||||||||||
Ending balance | |||||||||||||||||||||
Individually evaluated for impairment | $ | 5,974 | $ | 1,483 | $ | - | $ | 7,457 | |||||||||||||
Collectively evaluated for impairment | 283,566 | 529,789 | 169,395 | 982,750 | |||||||||||||||||
Total Loans | $ | 289,540 | $ | 531,272 | $ | 169,395 | $ | 990,207 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of period | $ | 9,633 | $ | 3,662 | $ | 2,406 | $ | 15,701 | |||||||||||||
Provision charged to expense | 1,004 | -215 | -39 | 750 | |||||||||||||||||
Losses charged off | -1,713 | -274 | -104 | -2,091 | |||||||||||||||||
Recoveries | 10 | 30 | 54 | 94 | |||||||||||||||||
Balance, end of period | $ | 8,934 | $ | 3,203 | $ | 2,317 | $ | 14,454 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 9,908 | $ | 3,394 | $ | 2,736 | $ | 16,038 | |||||||||||||
Provision charged to expense | 1,675 | 469 | 106 | 2,250 | |||||||||||||||||
Losses charged off | -2,681 | -716 | -764 | -4,161 | |||||||||||||||||
Recoveries | 32 | 56 | 239 | 327 | |||||||||||||||||
Balance, end of period | $ | 8,934 | $ | 3,203 | $ | 2,317 | $ | 14,454 | |||||||||||||
Management’s general practice is to proactively charge down loans individually evaluated for impairment to the fair value of the underlying collateral. | |||||||||||||||||||||
For all loan portfolio segments except consumer real estate and other consumer loans, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. | |||||||||||||||||||||
The Company charges-off consumer real estate and other consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge-off of unsecured open-end loans when the loan is 180 days past due, and charge-down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged-off. | |||||||||||||||||||||
Information on non-performing assets, excluding performing restructured loans, is provided below: | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Non-performing assets | |||||||||||||||||||||
Non-accrual loans | $ | 8,197 | $ | 13,112 | |||||||||||||||||
Accruing loans delinquent 90 days or more and past due | 217 | 390 | |||||||||||||||||||
Total non-performing loans | 8,414 | 13,502 | |||||||||||||||||||
Foreclosed real estate | 6,334 | 6,750 | |||||||||||||||||||
Other repossessed assets | 504 | 312 | |||||||||||||||||||
Total non-performing assets | $ | 15,252 | $ | 20,564 | |||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||
Certain categories of impaired loans include loans that have been modified in a troubled debt restructuring, that involves granting economic concessions to borrowers who have experienced financial difficulties. These concessions typically result from our loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions. Modifications of terms for our loans and their inclusion as troubled debt restructurings are based on individual facts and circumstances. | |||||||||||||||||||||
When we modify loans in a troubled debt restructuring, we evaluate any possible impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or we use the current fair value of the collateral, less selling costs for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through a specific reserve or a charge-off to the allowance. | |||||||||||||||||||||
Loans retain their accrual status at the time of their modification. As a result, if a loan is on nonaccrual at the time it is modified, it stays as nonaccrual until a period of satisfactory performance, generally nine months, is obtained. If a loan is on accrual at the time of the modification, the loan is evaluated to determine the collection of principal and interest is reasonably assured and generally stays on accrual. | |||||||||||||||||||||
At September 30, 2014, the Company had a number of loans that were modified in troubled debt restructurings and impaired. The modification of terms of such loans included one or a combination of the following: an extension of maturity, a reduction of the stated interest rate or a permanent reduction of the recorded investment in the loan. | |||||||||||||||||||||
The following tables describe troubled debts restructured during the three and nine month periods ended September 30, 2014 and 2013. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 4 | $ | 968 | $ | 987 | ||||||||||||||||
Consumer closed end first mortgage | 4 | 665 | 285 | ||||||||||||||||||
Consumer open end and junior liens | 1 | 14 | 15 | ||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 1 | $ | 192 | $ | 260 | ||||||||||||||||
Consumer closed end first mortgage | 4 | 460 | 492 | ||||||||||||||||||
Consumer open end and junior liens | 8 | 274 | 272 | ||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Boat/RVs | 2 | 45 | 45 | ||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 5 | $ | 1,218 | $ | 1,237 | ||||||||||||||||
Consumer closed end first mortgage | 11 | 1,379 | 1,026 | ||||||||||||||||||
Consumer open end and junior liens | 4 | 48 | 49 | ||||||||||||||||||
Commercial and industrial | 2 | 193 | 223 | ||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 3 | $ | 1,532 | $ | 1,593 | ||||||||||||||||
Consumer closed end first mortgage | 21 | 1,462 | 1,812 | ||||||||||||||||||
Consumer open end and junior liens | 26 | 945 | 955 | ||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 2 | 22 | 22 | ||||||||||||||||||
Boat/RVs | 6 | 172 | 171 | ||||||||||||||||||
Other | 1 | 11 | 11 | ||||||||||||||||||
Commercial and industrial | 3 | 1,122 | 834 | ||||||||||||||||||
The impact on the allowance for loan losses was insignificant as a result of these modifications. | |||||||||||||||||||||
Newly restructured loans by type for the three and nine months ended September 30, 2014 and 2013 are as follows: | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | 689 | $ | 298 | $ | 987 | |||||||||||||
Consumer closed end first mortgage | 101 | - | 184 | 285 | |||||||||||||||||
Consumer open end junior lien | - | - | 15 | 15 | |||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||
Consumer closed end first mortgage | - | - | 492 | 492 | |||||||||||||||||
Consumer open end junior lien | - | 128 | 144 | 272 | |||||||||||||||||
Consumer Loans | |||||||||||||||||||||
Boat/RVs | - | 14 | 31 | 45 | |||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | 689 | $ | 548 | $ | 1,237 | |||||||||||||
Consumer closed end first mortgage | 101 | - | 925 | 1,026 | |||||||||||||||||
Consumer open end junior lien | - | 19 | 30 | 49 | |||||||||||||||||
Commercial and industrial | - | 223 | - | 223 | |||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 1,593 | $ | 1,593 | |||||||||||||
Consumer closed end first mortgage | - | - | 1,812 | 1,812 | |||||||||||||||||
Consumer open end junior lien | 250 | 402 | 303 | 955 | |||||||||||||||||
Consumer Loans | |||||||||||||||||||||
Auto | - | 4 | 18 | 22 | |||||||||||||||||
Boat/RVs | - | 135 | 36 | 171 | |||||||||||||||||
Other | - | - | 11 | 11 | |||||||||||||||||
Commercial and industrial | - | 200 | 634 | 834 | |||||||||||||||||
Defaults of any loans modified as troubled debt restructurings made in the three and nine months ended September 30, 2014 and 2013, respectively, are listed in the table below. Defaults are defined as any loans that become 90 days past due. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 1 | $ | 231 | ||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 2 | $ | 187 | ||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 4 | $ | 663 | ||||||||||||||||||
Consumer open end and junior liens | 1 | 23 | |||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 3 | $ | 196 | ||||||||||||||||||
There were no modified loans that defaulted during the third quarter of 2013. | |||||||||||||||||||||
Acquisitiion
Acquisitiion | 9 Months Ended |
Sep. 30, 2014 | |
Acquisitiion [Abstract] | ' |
Acquisitiion | ' |
Note 8: Acquisition | |
On August 1, 2014, the Company acquired Summit Mortgage, Inc., a mortgage broker in Ft. Wayne, Indiana. The acquisition of Summit resulted in the acquisition of insignificant assets, generated goodwill of $1.8 million and no additional material intangible assets. This acquisition allows the Bank to enter a new market and look at more efficient methods of increasing non-interest income and is not expected to have a material impact on the operations of the Company. | |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share | ' | |||||||||||||||
Earnings per share were computed as follows: | ||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income | Weighted- Average Shares | Per-Share Amount | Income | Weighted- Average Shares | Per-Share Amount | |||||||||||
Basic Earnings Per Share | ||||||||||||||||
Net income | $ | 2,694 | 7,178,055 | $ | 2,472 | 7,088,660 | ||||||||||
Dividends and accretion on preferred stock | - | -271 | ||||||||||||||
Income available to common stockholders | 2,694 | 7,178,055 | $ | 0.38 | 2,201 | 7,088,660 | $ | 0.31 | ||||||||
Effect of Dilutive Securities | ||||||||||||||||
Stock options | - | 229,089 | - | 176,447 | ||||||||||||
Diluted Earnings Per Share | ||||||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,694 | 7,407,144 | $ | 0.36 | $ | 2,201 | 7,265,107 | $ | 0.30 | ||||||
Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Income | Weighted- Average Shares | Per-Share Amount | Income | Weighted- Average Shares | Per-Share Amount | |||||||||||
Basic Earnings Per Share | ||||||||||||||||
Net income | $ | 7,214 | 7,143,597 | $ | 6,560 | 7,066,670 | ||||||||||
Dividends and accretion on preferred stock | - | -911 | ||||||||||||||
Income available to common stockholders | 7,214 | 7,143,597 | $ | 1.01 | 5,649 | 7,066,670 | $ | 0.80 | ||||||||
Effect of Dilutive Securities | ||||||||||||||||
Stock options | - | 230,147 | - | 172,205 | ||||||||||||
Diluted Earnings Per Share | ||||||||||||||||
Income available to common stockholders and assumed conversions | $ | 7,214 | 7,373,744 | $ | 0.98 | $ | 5,649 | 7,238,875 | $ | 0.78 | ||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Amortized Cost and Fair Values of Securities | ' | ||||||||||||||||||||||||||||||||
The amortized costs and approximate fair values, together with gross unrealized gains and losses on securities, are as follows: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 113,082 | $ | 2,269 | $ | -598 | $ | 114,753 | |||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 98,705 | 1,199 | -1,298 | 98,606 | |||||||||||||||||||||||||||||
Federal agencies | 4 | - | - | 4 | |||||||||||||||||||||||||||||
Municipal obligations | 27,259 | 1,711 | -15 | 28,955 | |||||||||||||||||||||||||||||
Corporate obligations | 24,150 | 94 | -2,506 | 21,738 | |||||||||||||||||||||||||||||
Total investment securities | $ | 263,200 | $ | 5,273 | $ | -4,417 | $ | 264,056 | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||||||||||
Available for Sale Securities | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 104,006 | $ | 1,700 | $ | -2,189 | $ | 103,517 | |||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 108,305 | 1,207 | -1,934 | 107,578 | |||||||||||||||||||||||||||||
Federal agencies | 5,005 | - | -231 | 4,774 | |||||||||||||||||||||||||||||
Municipal obligations | 27,357 | 257 | -276 | 27,338 | |||||||||||||||||||||||||||||
Corporate obligations | 24,648 | 18 | -3,525 | 21,141 | |||||||||||||||||||||||||||||
Total investment securities | $ | 269,321 | $ | 3,182 | $ | -8,155 | $ | 264,348 | |||||||||||||||||||||||||
Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity | ' | ||||||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Description Securities | Amortized Cost | Fair Value | |||||||||||||||||||||||||||||||
Security obligations due | |||||||||||||||||||||||||||||||||
One to five years | $ | 9,598 | $ | 9,634 | |||||||||||||||||||||||||||||
Five to ten years | 10,778 | 10,864 | |||||||||||||||||||||||||||||||
After ten years | 31,037 | 30,199 | |||||||||||||||||||||||||||||||
51,413 | 50,697 | ||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 113,082 | 114,753 | |||||||||||||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 98,705 | 98,606 | |||||||||||||||||||||||||||||||
Totals | $ | 263,200 | $ | 264,056 | |||||||||||||||||||||||||||||
Investments Gross Unrealized Losses and Fair Value in Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||||||||||
The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 10,387 | $ | -98 | $ | 29,284 | $ | -500 | $ | 39,671 | $ | -598 | |||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 12,910 | -168 | 34,981 | -1,130 | 47,891 | -1,298 | |||||||||||||||||||||||||||
Federal agencies | 4 | - | - | - | 4 | - | |||||||||||||||||||||||||||
Municipal obligations | - | - | 623 | -15 | 623 | -15 | |||||||||||||||||||||||||||
Corporate obligations | - | - | 8,188 | -2,506 | 8,188 | -2,506 | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 23,301 | $ | -266 | $ | 73,076 | $ | -4,151 | $ | 96,377 | $ | -4,417 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | $ | 67,130 | $ | -2,189 | $ | - | $ | - | $ | 67,130 | $ | -2,189 | |||||||||||||||||||||
Collateralized mortgage obligations | |||||||||||||||||||||||||||||||||
Government-sponsored agencies | 51,753 | -1,934 | - | - | $ | 51,753 | $ | -1,934 | |||||||||||||||||||||||||
Federal agencies | 4,769 | -231 | 4,769 | -231 | |||||||||||||||||||||||||||||
Municipal obligations | 11,264 | -245 | 741 | -31 | 12,005 | -276 | |||||||||||||||||||||||||||
Corporate obligations | 8,849 | -151 | 3,336 | -3,374 | 12,185 | -3,525 | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 143,765 | $ | -4,750 | $ | 4,077 | $ | -3,405 | $ | 147,842 | $ | -8,155 | |||||||||||||||||||||
Debt Securities for which Credit Loss was Recognized in Income and Other Losses Recorded in Other Comprehensive Income | ' | ||||||||||||||||||||||||||||||||
The following table provides information about debt securities for which only a credit loss was recognized in income and other losses are recorded in other comprehensive income. | |||||||||||||||||||||||||||||||||
Accumulated Credit Losses | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Credit losses on debt securities held | |||||||||||||||||||||||||||||||||
Beginning of period | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Reductions related to actual losses incurred | - | - | |||||||||||||||||||||||||||||||
As of September 30, | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Accumulated Credit Losses | |||||||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Credit losses on debt securities held | |||||||||||||||||||||||||||||||||
Beginning of year | $ | 1,205 | $ | 1,205 | |||||||||||||||||||||||||||||
Reductions related to actual losses incurred | -500 | - | |||||||||||||||||||||||||||||||
As of September 30, | $ | 705 | $ | 1,205 | |||||||||||||||||||||||||||||
Pooled Trust Preferred Collateralized Debt Obligations | ' | ||||||||||||||||||||||||||||||||
The following table provides additional information related to the Bank’s investment in trust preferred securities as of September 30, 2014. | |||||||||||||||||||||||||||||||||
Deal Name | Class | Original Par | Book Value | Fair Value | Unrealized gain (loss) | Realized Losses | Lowest Ratings | Number of Banks / Insurance Cos. Currently Performing | Total Number of Banks and Insurance Cos. In Issuance (Unique) | Actual Deferrals/ | Total Projected Defaults | Excess subordination (after taking into account best estimate of future deferrals/ | |||||||||||||||||||||
YTD | Defaults | (as a % of performing collateral) (1) | defaults) (2) | ||||||||||||||||||||||||||||||
(as a % of original collateral) | |||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||
Alesco Preferred Funding IX | B+ | 1,000 | 909 | 559 | -350 | - | B2 | 41 | 52 | 14.69 | % | 15.78 | % | 54.50 | % | ||||||||||||||||||
Preferred Term Securities XIII | Caa1 | 1,000 | 767 | 423 | -344 | - | Ca | 44 | 61 | 25.75 | % | 20.21 | % | 4.36 | % | ||||||||||||||||||
Preferred Term Securities XVIII | Ca | 1,000 | 917 | 430 | -487 | - | Ca | 52 | 72 | 22.51 | % | 10.03 | % | 6.43 | % | ||||||||||||||||||
Preferred Term Securities XXVII | Caa3 | 1,000 | 710 | 386 | -324 | - | C | 33 | 46 | 22.62 | % | 16.29 | % | 10.02 | % | ||||||||||||||||||
U.S. Capital Funding I | B3 | 3,000 | 2,891 | 1,936 | -955 | - | Caa1 | 28 | 33 | 9.44 | % | 8.60 | % | 8.90 | % | ||||||||||||||||||
$ | 7,000 | $ | 6,194 | $ | 3,734 | $ | -2,460 | $ | - | ||||||||||||||||||||||||
(1) A 10% recovery is applied to all projected defaults by depository institutions. A 15% recovery is applied to all projected defaults by insurance companies. No recovery is applied to current defaults. | |||||||||||||||||||||||||||||||||
(2) Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. | |||||||||||||||||||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||
Components of Accumulated Other Comprehensive Income | ' | ||||||||
The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Net unrealized gain (loss) on securities available-for-sale | $ | 2,966 | $ | -2,029 | |||||
Net unrealized loss on securities available-for-sale for which a portion of an other-than-temporary impairment has been recognized in income | -2,110 | -2,945 | |||||||
Net unrealized loss on derivative used for cash flow hedges | -132 | -259 | |||||||
Net unrealized gain relating to defined benefit plan liability | 100 | 100 | |||||||
824 | -5,133 | ||||||||
Tax expense (benefit) | 330 | -1,718 | |||||||
Net of tax amount | $ | 494 | $ | -3,415 | |||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||
The following table presents the reclassification adjustments out of accumulated other comprehensive income (loss) that were included in net income in the Consolidated Statements of Income for the three months ended September 30, 2014 and 2013. | |||||||||
Amount Reclassified from Accumulated Other Comprehensive Income For the Three Months Ended September 30, | |||||||||
Details about Accumulated Other Comprehensive Income Components | 2014 | 2013 | Affected Line Item in the Statements of Income | ||||||
Unrealized gains (losses) on available-for-sale securities | |||||||||
Realized securities gains reclassified into income | $ | 75 | $ | 453 | Other income - net realized gains on sale of available-for-sale securities | ||||
Related income tax expense | -26 | -154 | Income tax expense | ||||||
Total reclassifications for the period, net of tax | $ | 49 | $ | 299 | |||||
Amount Reclassified from Accumulated Other Comprehensive Income For the Nine Months Ended September 30, | |||||||||
Details about Accumulated Other Comprehensive Income Components | 2014 | 2013 | Affected Line Item in the Statements of Income | ||||||
Unrealized gains (losses) on available-for-sale securities | |||||||||
Realized securities gains reclassified into income | $ | 436 | $ | 835 | Other income - net realized gains on sale of available-for-sale securities | ||||
Related income tax expense | -148 | -284 | Income tax expense | ||||||
Total reclassifications for the period, net of tax | $ | 288 | $ | 551 | |||||
Fair_Values_of_Financial_Instr1
Fair Values of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Values of Financial Instruments [Abstract] | ' | |||||||||||||||
Fair Value Measurements of Assets Measured at Fair Value on Recurring Basis | ' | |||||||||||||||
The following table presents the fair value measurements of assets measured at fair value on a recurring basis and level within the ASC 820 fair value hierarchy in which the fair value measurements fall: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
30-Sep-14 | ||||||||||||||||
Mortgage-backed securities | ||||||||||||||||
Government sponsored agencies | $ | 114,753 | $ | - | $ | 114,753 | $ | - | ||||||||
Collateralized mortgage obligations | ||||||||||||||||
Government sponsored agencies | 98,606 | - | 98,606 | - | ||||||||||||
Federal agencies | 4 | - | 4 | - | ||||||||||||
Municipal obligations | 28,955 | - | 28,955 | - | ||||||||||||
Corporate obligations | 21,738 | - | 18,004 | 3,734 | ||||||||||||
Available-for-sale securities | $ | 264,056 | $ | - | $ | 260,322 | $ | 3,734 | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
31-Dec-13 | ||||||||||||||||
Mortgage-backed securities | ||||||||||||||||
Government sponsored agencies | $ | 103,517 | $ | - | $ | 103,517 | $ | - | ||||||||
Collateralized mortgage obligations | ||||||||||||||||
Government sponsored agencies | 107,578 | - | 107,578 | - | ||||||||||||
Federal agencies | 4,774 | - | 4,774 | - | ||||||||||||
Municipal obligations | 27,338 | - | 27,338 | - | ||||||||||||
Corporate obligations | 21,141 | - | 17,805 | 3,336 | ||||||||||||
Available-for-sale securities | $ | 264,348 | $ | - | $ | 261,012 | $ | 3,336 | ||||||||
Reconciliation of Recurring Fair Value Measurements Recognized in Balance Sheet using Significant Unobservable (Level Three) Inputs | ' | |||||||||||||||
The following is a reconciliation of the beginning and ending balances for the three months ended September 30, 2014 and 2013 of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs: | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | $ | 3,738 | $ | 3,000 | ||||||||||||
Total realized and unrealized gains (losses) | ||||||||||||||||
Included in net income | - | - | ||||||||||||||
Included in other comprehensive income (loss) | -4 | 1 | ||||||||||||||
Purchases, sales, issuances and settlements | - | -30 | ||||||||||||||
Ending balance | $ | 3,734 | $ | 2,971 | ||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $ | 0 | $ | 0 | ||||||||||||
The following is a reconciliation of the beginning and ending balances for the nine months ended September 30, 2014 and 2013 of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs: | ||||||||||||||||
2014 | 2013 | |||||||||||||||
Beginning balance | $ | 3,336 | $ | 2,475 | ||||||||||||
Total realized and unrealized gains (losses) | ||||||||||||||||
Included in net income | 56 | - | ||||||||||||||
Included in other comprehensive income (loss) | 916 | 526 | ||||||||||||||
Purchases, issuances and settlements | -574 | -30 | ||||||||||||||
Ending balance | $ | 3,734 | $ | 2,971 | ||||||||||||
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $ | 0 | $ | 0 | ||||||||||||
Fair Value Measurement of Assets Measured at Fair Value on Nonrecurring Basis | ' | |||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the ASC 820 fair value hierarchy in which the fair value measurements fall: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
30-Sep-14 | ||||||||||||||||
Other real estate owned | $ | 251 | $ | - | $ | - | $ | 251 | ||||||||
Fair Value Measurements Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||
31-Dec-13 | ||||||||||||||||
Impaired loans | $ | 925 | $ | - | $ | - | $ | 925 | ||||||||
Other real estate owned | 1,677 | - | - | 1,677 | ||||||||||||
Mortgage-servicing rights | 2,106 | - | - | 2,106 | ||||||||||||
Quantitative Information about Unobservable Inputs used in Recurring and Nonrecurring Level Three Fair Value Measurements | ' | |||||||||||||||
The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements. | ||||||||||||||||
30-Sep-14 | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||
Trust Preferred Securities | $ | 3,734 | Discounted cash flow | Discount rate | 8.0-14.0 | % | ||||||||||
Constant prepayment rate | 2.0 | % | ||||||||||||||
Cumulative projected prepayments | 40.0 | % | ||||||||||||||
Probability of default | 1.8-2.8 | % | ||||||||||||||
Projected cures given deferral | 0-15.0 | % | ||||||||||||||
Loss severity | 35.4-70.4 | % | ||||||||||||||
Other real estate owned | $ | 251 | Third party valuations | Discount to reflect realizable value less estimated selling costs | 10.0-36.7 | % | ||||||||||
31-Dec-13 | Fair Value | Valuation Technique | Unobservable Inputs | Range | ||||||||||||
Trust Preferred Securities | $ | 3,336 | Discounted cash flow | Discount rate | 10.0-17.0 | % | ||||||||||
Constant prepayment rate | 2.0 | % | ||||||||||||||
Cumulative projected prepayments | 40.0 | % | ||||||||||||||
Probability of default | 1.5-2.7 | % | ||||||||||||||
Projected cures given deferral | 0-15.0 | % | ||||||||||||||
Loss severity | 46.9-73.7 | % | ||||||||||||||
Impaired loans (collateral dependent) | $ | 925 | Third party valuations | Discount to reflect realizable value | 7.3-78.3 | % | ||||||||||
Other real estate owned | $ | 1,677 | Third party valuations | Discount to reflect realizable value less estimated selling costs | 0-25.0 | % | ||||||||||
Mortgage-servicing rights | $ | 2,106 | Third party valuations | Prepayment speeds | 105-700 | % | ||||||||||
Discount rates | 10.0 | % | ||||||||||||||
Servicing fee | 0.25 | % | ||||||||||||||
Estimated Fair Values of Financial Instruments | ' | |||||||||||||||
The estimated fair values of the Company’s financial instruments not carried at fair value in the consolidated balance sheets as of the dates noted below are as follows: | ||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||
30-Sep-14 | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 20,499 | $ | 20,499 | $ | 20,499 | $ | - | $ | - | ||||||
Loans held for sale | 6,440 | 6,523 | - | 6,523 | - | |||||||||||
Loans, net | 995,468 | 993,302 | - | - | 993,302 | |||||||||||
FHLB stock | 14,391 | 14,391 | - | 14,391 | - | |||||||||||
Interest receivable | 3,665 | 3,665 | - | 3,665 | - | |||||||||||
Liabilities | ||||||||||||||||
Deposits | 1,098,849 | 1,061,159 | 636,955 | - | 424,204 | |||||||||||
FHLB advances | 168,523 | 167,425 | - | 167,425 | - | |||||||||||
Other borrowings | 10,353 | 10,353 | - | 10,353 | - | |||||||||||
Interest payable | 278 | 278 | - | 278 | - | |||||||||||
Fair Value Measurements Using | ||||||||||||||||
31-Dec-13 | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 25,285 | $ | 25,285 | $ | 25,285 | $ | - | $ | - | ||||||
Loans held for sale | 1,888 | 1,905 | - | 1,905 | - | |||||||||||
Loans, net | 965,966 | 935,414 | - | - | 935,414 | |||||||||||
FHLB stock | 14,391 | 14,391 | - | 14,391 | - | |||||||||||
Interest receivable | 3,775 | 3,775 | - | 3,775 | - | |||||||||||
Liabilities | ||||||||||||||||
Deposits | 1,113,084 | 1,068,422 | 593,457 | - | 474,965 | |||||||||||
FHLB advances | 142,928 | 141,526 | - | 141,526 | - | |||||||||||
Other borrowings | 10,890 | 10,890 | - | 10,890 | - | |||||||||||
Interest payable | 157 | 157 | - | 157 | - | |||||||||||
Loans_and_Allowance_Tables
Loans and Allowance (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Loans and Allowance [Abstract] | ' | ||||||||||||||||||||
Schedule of Classes of Loans | ' | ||||||||||||||||||||
Classes of loans at September 30, 2014 and December 31, 2013 include: | |||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 192,534 | $ | 200,817 | |||||||||||||||||
Commercial construction and development | 29,267 | 13,321 | |||||||||||||||||||
Consumer closed end first mortgage | 519,312 | 531,272 | |||||||||||||||||||
Consumer open end and junior liens | 71,001 | 69,354 | |||||||||||||||||||
812,114 | 814,764 | ||||||||||||||||||||
Other loans | |||||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 14,464 | 14,856 | |||||||||||||||||||
Boat/RVs | 95,093 | 79,419 | |||||||||||||||||||
Other | 5,363 | 5,766 | |||||||||||||||||||
Commercial and industrial | 87,663 | 75,402 | |||||||||||||||||||
202,583 | 175,443 | ||||||||||||||||||||
Total loans | 1,014,697 | 990,207 | |||||||||||||||||||
Undisbursed loans in process | -9,425 | -13,346 | |||||||||||||||||||
Unamortized deferred loan costs, net | 3,445 | 2,517 | |||||||||||||||||||
Allowance for loan losses | -13,249 | -13,412 | |||||||||||||||||||
Net loans | $ | 995,468 | $ | 965,966 | |||||||||||||||||
Non-Accrual Loans Segregated by Class of Loans | ' | ||||||||||||||||||||
Nonaccrual loans, segregated by class of loans, as of September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 2,073 | $ | 1,349 | |||||||||||||||||
Commercial construction and development | 613 | 1,103 | |||||||||||||||||||
Consumer closed end first mortgage | 4,334 | 4,057 | |||||||||||||||||||
Consumer open end and junior liens | 199 | 421 | |||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 1 | 10 | |||||||||||||||||||
Boat/RVs | 289 | 339 | |||||||||||||||||||
Other | 51 | 12 | |||||||||||||||||||
Commercial and industrial | 637 | 1,109 | |||||||||||||||||||
$ | 8,197 | $ | 8,400 | ||||||||||||||||||
Age Analysis of Past Due Loans Segregated by Class of Loans | ' | ||||||||||||||||||||
An age analysis of the Company’s past due loans, segregated by class of loans, as of September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Loans Receivable | Total Loans 90 Days or More and Accruing | |||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 1,294 | $ | 8 | $ | 1,541 | $ | 2,843 | $ | 189,691 | $ | 192,534 | $ | - | |||||||
Commercial construction and development | - | - | 457 | 457 | 28,810 | 29,267 | - | ||||||||||||||
Consumer closed end first mortgage | 6,260 | 1,217 | 2,971 | 10,448 | 508,864 | 519,312 | 217 | ||||||||||||||
Consumer open end and junior liens | 257 | 563 | 129 | 949 | 70,052 | 71,001 | - | ||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 49 | - | - | 49 | 14,415 | 14,464 | - | ||||||||||||||
Boat/RVs | 1,004 | 115 | 169 | 1,288 | 93,805 | 95,093 | - | ||||||||||||||
Other | 31 | 28 | 5 | 64 | 5,299 | 5,363 | - | ||||||||||||||
Commercial and industrial | 207 | 202 | 464 | 873 | 86,790 | 87,663 | - | ||||||||||||||
$ | 9,102 | $ | 2,133 | $ | 5,736 | $ | 16,971 | $ | 997,726 | $ | 1,014,697 | $ | 217 | ||||||||
31-Dec-13 | |||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days or More Past Due | Total Past Due | Current | Total Loans Receivable | Total Loans 90 Days or More and Accruing | |||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 763 | $ | 196 | $ | 1,196 | $ | 2,155 | $ | 198,662 | $ | 200,817 | $ | - | |||||||
Commercial construction and development | 333 | - | 915 | 1,248 | 12,073 | 13,321 | - | ||||||||||||||
Consumer closed end first mortgage | 11,680 | 2,122 | 3,515 | 17,317 | 513,955 | 531,272 | 175 | ||||||||||||||
Consumer open end and junior liens | 609 | 185 | 394 | 1,188 | 68,166 | 69,354 | - | ||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 54 | 8 | 9 | 71 | 14,785 | 14,856 | - | ||||||||||||||
Boat/RVs | 1,410 | 262 | 202 | 1,874 | 77,545 | 79,419 | 13 | ||||||||||||||
Other | 61 | 3 | - | 64 | 5,702 | 5,766 | - | ||||||||||||||
Commercial and industrial | 67 | 393 | 531 | 991 | 74,411 | 75,402 | - | ||||||||||||||
$ | 14,977 | $ | 3,169 | $ | 6,762 | $ | 24,908 | $ | 965,299 | $ | 990,207 | $ | 188 | ||||||||
Impaired Loans | ' | ||||||||||||||||||||
The following tables present impaired loans as of September 30, 2014 and 2013 and the year ended December 31, 2013: | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans - Quarter | Average Investment in Impaired Loans - YTD | Interest Income Recognized - Quarter | Interest Income Recognized - YTD | |||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 4,088 | $ | 4,088 | $ | - | $ | 3,475 | $ | 3,262 | $ | 38 | $ | 102 | |||||||
Commercial construction and development | $ | 1,196 | $ | 2,567 | $ | - | $ | 1,235 | $ | 1,421 | $ | 7 | $ | 23 | |||||||
Consumer closed end first mortgage | $ | 1,639 | $ | 1,639 | $ | - | $ | 1,243 | $ | 1,144 | $ | 1 | $ | 6 | |||||||
Consumer open end and junior liens | $ | - | $ | - | $ | - | $ | - | $ | 125 | $ | - | $ | 3 | |||||||
Commercial and industrial | $ | 1,659 | $ | 1,659 | $ | - | $ | 1,203 | $ | 1,189 | $ | - | $ | 11 | |||||||
There were no loans with a specific valuation allowance as of September 30, 2014. | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans | Interest Income Recognized | |||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,148 | $ | 3,660 | $ | - | $ | 3,894 | $ | 160 | |||||||||||
Commercial construction and development | 1,294 | 3,218 | - | 5,386 | 46 | ||||||||||||||||
Consumer closed end first mortgage | 1,483 | 2,071 | - | 2,582 | 33 | ||||||||||||||||
Commercial and industrial | 764 | 764 | - | 897 | 2 | ||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial construction and development | 344 | 371 | 100 | 344 | - | ||||||||||||||||
Commercial and industrial | 424 | 624 | 235 | 566 | 20 | ||||||||||||||||
Total | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,148 | $ | 3,660 | $ | - | $ | 3,894 | $ | 160 | |||||||||||
Commercial construction and development | $ | 1,638 | $ | 3,589 | $ | 100 | $ | 5,730 | $ | 46 | |||||||||||
Consumer closed end first mortgage | $ | 1,483 | $ | 2,071 | $ | - | $ | 2,582 | $ | 33 | |||||||||||
Commercial and industrial | $ | 1,188 | $ | 1,388 | $ | 235 | $ | 1,463 | $ | 22 | |||||||||||
30-Sep-13 | |||||||||||||||||||||
Recorded Balance | Unpaid Principal Balance | Specific Allowance | Average Investment in Impaired Loans - Quarter | Average Investment in Impaired Loans - YTD | Interest Income Recognized - Quarter | Interest Income Recognized - YTD | |||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 2,894 | $ | 3,958 | $ | - | $ | 2,953 | $ | 3,545 | $ | 40 | $ | 109 | |||||||
Commercial construction and development | 3,331 | 7,332 | - | 4,782 | 6,112 | 23 | 57 | ||||||||||||||
Consumer closed end first mortgage | 1,700 | 2,639 | - | 2,167 | 2,732 | 11 | 45 | ||||||||||||||
Consumer open end and junior liens | 250 | 250 | - | 250 | 125 | 1 | 3 | ||||||||||||||
Commercial and industrial | 679 | 679 | - | 798 | 876 | 10 | 18 | ||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 204 | 204 | 100 | 205 | 206 | 3 | 9 | ||||||||||||||
Commercial construction and development | 622 | 2,020 | 200 | 622 | 640 | - | - | ||||||||||||||
Commercial and industrial | 424 | 624 | 235 | 429 | 601 | 6 | 15 | ||||||||||||||
Total | |||||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | $ | 3,098 | $ | 4,162 | $ | 100 | $ | 3,158 | $ | 3,751 | $ | 43 | $ | 118 | |||||||
Commercial construction and development | $ | 3,953 | $ | 9,352 | $ | 200 | $ | 5,404 | $ | 6,752 | $ | 23 | $ | 57 | |||||||
Consumer closed end first mortgage | $ | 1,700 | $ | 2,639 | $ | - | $ | 2,167 | $ | 2,732 | $ | 11 | $ | 45 | |||||||
Consumer open end and junior liens | $ | 250 | $ | 250 | $ | - | $ | 250 | $ | 125 | $ | 1 | $ | 3 | |||||||
Commercial and industrial | $ | 1,103 | $ | 1,303 | $ | 235 | $ | 1,227 | $ | 1,477 | $ | 16 | $ | 33 | |||||||
Commercial and Retail Credit Exposure Credit Risk Profile by Internal Rating | ' | ||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Real Estate | Construction and Development | Commercial and Industrial | ||||||||||||||||||
Pass | $ | 181,595 | $ | 25,890 | $ | 82,821 | |||||||||||||||
Special Mention | 3,329 | 1,728 | 368 | ||||||||||||||||||
Substandard | 7,610 | 1,649 | 4,010 | ||||||||||||||||||
Doubtful | - | - | 464 | ||||||||||||||||||
Total | $ | 192,534 | $ | 29,267 | $ | 87,663 | |||||||||||||||
Consumer Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Closed End First Mortgage | Real Estate Open End and Junior Liens | Auto | Boat/RV | Other | ||||||||||||||||
Pass | $ | 510,555 | $ | 70,683 | $ | 14,454 | $ | 94,598 | $ | 5,280 | |||||||||||
Special Mention | 1,719 | - | - | - | - | ||||||||||||||||
Substandard | 7,038 | 318 | 10 | 495 | 83 | ||||||||||||||||
Total | $ | 519,312 | $ | 71,001 | $ | 14,464 | $ | 95,093 | $ | 5,363 | |||||||||||
31-Dec-13 | |||||||||||||||||||||
Commercial Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Real Estate | Construction and Development | Commercial and Industrial | ||||||||||||||||||
Pass | $ | 190,041 | $ | 9,910 | $ | 73,648 | |||||||||||||||
Special Mention | 3,308 | 1,659 | 223 | ||||||||||||||||||
Substandard | 7,468 | 1,752 | 1,000 | ||||||||||||||||||
Doubtful | - | - | 531 | ||||||||||||||||||
Total | $ | 200,817 | $ | 13,321 | $ | 75,402 | |||||||||||||||
Consumer Credit Exposure Credit Risk Profile | |||||||||||||||||||||
Internal Rating | Closed End First Mortgage | Real Estate Open End and Junior Liens | Auto | Boat/RV | Other | ||||||||||||||||
Pass | $ | 522,352 | $ | 68,445 | $ | 14,834 | $ | 78,863 | $ | 5,415 | |||||||||||
Special Mention | 1,783 | - | - | - | - | ||||||||||||||||
Substandard | 7,137 | 909 | 22 | 556 | 351 | ||||||||||||||||
Total | $ | 531,272 | $ | 69,354 | $ | 14,856 | $ | 79,419 | $ | 5,766 | |||||||||||
Activity in Allowance for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the three and nine month periods ended September 30, 2014 and 2013 and year ended December 31, 2013. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other segments. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of period | $ | 7,763 | $ | 3,344 | $ | 2,136 | $ | 13,243 | |||||||||||||
Provision charged to expense | -914 | 935 | -21 | - | |||||||||||||||||
Losses charged off | - | -141 | -49 | -190 | |||||||||||||||||
Recoveries | 105 | 23 | 68 | 196 | |||||||||||||||||
Balance, end of period | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Provision charged to expense | -1,101 | 1,400 | 551 | 850 | |||||||||||||||||
Losses charged off | -244 | -391 | -767 | -1,402 | |||||||||||||||||
Recoveries | 151 | 28 | 210 | 389 | |||||||||||||||||
Balance, end of period | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Ending balance: | |||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Collectively evaluated for impairment | 6,954 | 4,161 | 2,134 | 13,249 | |||||||||||||||||
Total allowance for loan losses | $ | 6,954 | $ | 4,161 | $ | 2,134 | $ | 13,249 | |||||||||||||
Loans: | |||||||||||||||||||||
Ending balance | |||||||||||||||||||||
Individually evaluated for impairment | $ | 6,943 | $ | 1,639 | $ | - | $ | 8,582 | |||||||||||||
Collectively evaluated for impairment | 302,521 | 517,673 | 185,921 | 1,006,115 | |||||||||||||||||
Total Loans | $ | 309,464 | $ | 519,312 | $ | 185,921 | $ | 1,014,697 | |||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 9,908 | $ | 3,394 | $ | 2,736 | $ | 16,038 | |||||||||||||
Provision charged to expense | 884 | 343 | 73 | 1,300 | |||||||||||||||||
Losses charged off | -2,713 | -886 | -940 | -4,539 | |||||||||||||||||
Recoveries | 69 | 273 | 271 | 613 | |||||||||||||||||
Balance, end of period | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Ending balance: | |||||||||||||||||||||
Individually evaluated for impairment | $ | 335 | $ | - | $ | - | $ | 335 | |||||||||||||
Collectively evaluated for impairment | 7,813 | 3,124 | 2,140 | 13,077 | |||||||||||||||||
Total allowance for loan losses | $ | 8,148 | $ | 3,124 | $ | 2,140 | $ | 13,412 | |||||||||||||
Loans: | |||||||||||||||||||||
Ending balance | |||||||||||||||||||||
Individually evaluated for impairment | $ | 5,974 | $ | 1,483 | $ | - | $ | 7,457 | |||||||||||||
Collectively evaluated for impairment | 283,566 | 529,789 | 169,395 | 982,750 | |||||||||||||||||
Total Loans | $ | 289,540 | $ | 531,272 | $ | 169,395 | $ | 990,207 | |||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of period | $ | 9,633 | $ | 3,662 | $ | 2,406 | $ | 15,701 | |||||||||||||
Provision charged to expense | 1,004 | -215 | -39 | 750 | |||||||||||||||||
Losses charged off | -1,713 | -274 | -104 | -2,091 | |||||||||||||||||
Recoveries | 10 | 30 | 54 | 94 | |||||||||||||||||
Balance, end of period | $ | 8,934 | $ | 3,203 | $ | 2,317 | $ | 14,454 | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Commercial | Mortgage | Consumer | Total | ||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||
Balance, beginning of year | $ | 9,908 | $ | 3,394 | $ | 2,736 | $ | 16,038 | |||||||||||||
Provision charged to expense | 1,675 | 469 | 106 | 2,250 | |||||||||||||||||
Losses charged off | -2,681 | -716 | -764 | -4,161 | |||||||||||||||||
Recoveries | 32 | 56 | 239 | 327 | |||||||||||||||||
Balance, end of period | $ | 8,934 | $ | 3,203 | $ | 2,317 | $ | 14,454 | |||||||||||||
Information on Non-Performing Assets | ' | ||||||||||||||||||||
Information on non-performing assets, excluding performing restructured loans, is provided below: | |||||||||||||||||||||
September 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Non-performing assets | |||||||||||||||||||||
Non-accrual loans | $ | 8,197 | $ | 13,112 | |||||||||||||||||
Accruing loans delinquent 90 days or more and past due | 217 | 390 | |||||||||||||||||||
Total non-performing loans | 8,414 | 13,502 | |||||||||||||||||||
Foreclosed real estate | 6,334 | 6,750 | |||||||||||||||||||
Other repossessed assets | 504 | 312 | |||||||||||||||||||
Total non-performing assets | $ | 15,252 | $ | 20,564 | |||||||||||||||||
Troubled Debts Restructured | ' | ||||||||||||||||||||
The following tables describe troubled debts restructured during the three and nine month periods ended September 30, 2014 and 2013. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 4 | $ | 968 | $ | 987 | ||||||||||||||||
Consumer closed end first mortgage | 4 | 665 | 285 | ||||||||||||||||||
Consumer open end and junior liens | 1 | 14 | 15 | ||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 1 | $ | 192 | $ | 260 | ||||||||||||||||
Consumer closed end first mortgage | 4 | 460 | 492 | ||||||||||||||||||
Consumer open end and junior liens | 8 | 274 | 272 | ||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Boat/RVs | 2 | 45 | 45 | ||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 5 | $ | 1,218 | $ | 1,237 | ||||||||||||||||
Consumer closed end first mortgage | 11 | 1,379 | 1,026 | ||||||||||||||||||
Consumer open end and junior liens | 4 | 48 | 49 | ||||||||||||||||||
Commercial and industrial | 2 | 193 | 223 | ||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Pre-Modification Outstanding Recorded Balance | Post-Modification Outstanding Recorded Balance | |||||||||||||||||||
Real estate | |||||||||||||||||||||
Commercial | 3 | $ | 1,532 | $ | 1,593 | ||||||||||||||||
Consumer closed end first mortgage | 21 | 1,462 | 1,812 | ||||||||||||||||||
Consumer open end and junior liens | 26 | 945 | 955 | ||||||||||||||||||
Consumer loans | |||||||||||||||||||||
Auto | 2 | 22 | 22 | ||||||||||||||||||
Boat/RVs | 6 | 172 | 171 | ||||||||||||||||||
Other | 1 | 11 | 11 | ||||||||||||||||||
Commercial and industrial | 3 | 1,122 | 834 | ||||||||||||||||||
Newly Restructured Loans by Types | ' | ||||||||||||||||||||
Newly restructured loans by type for the three and nine months ended September 30, 2014 and 2013 are as follows: | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | 689 | $ | 298 | $ | 987 | |||||||||||||
Consumer closed end first mortgage | 101 | - | 184 | 285 | |||||||||||||||||
Consumer open end junior lien | - | - | 15 | 15 | |||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||
Consumer closed end first mortgage | - | - | 492 | 492 | |||||||||||||||||
Consumer open end junior lien | - | 128 | 144 | 272 | |||||||||||||||||
Consumer Loans | |||||||||||||||||||||
Boat/RVs | - | 14 | 31 | 45 | |||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | 689 | $ | 548 | $ | 1,237 | |||||||||||||
Consumer closed end first mortgage | 101 | - | 925 | 1,026 | |||||||||||||||||
Consumer open end junior lien | - | 19 | 30 | 49 | |||||||||||||||||
Commercial and industrial | - | 223 | - | 223 | |||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Interest Only | Term | Combination | Total Modification | ||||||||||||||||||
Real Estate | |||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 1,593 | $ | 1,593 | |||||||||||||
Consumer closed end first mortgage | - | - | 1,812 | 1,812 | |||||||||||||||||
Consumer open end junior lien | 250 | 402 | 303 | 955 | |||||||||||||||||
Consumer Loans | |||||||||||||||||||||
Auto | - | 4 | 18 | 22 | |||||||||||||||||
Boat/RVs | - | 135 | 36 | 171 | |||||||||||||||||
Other | - | - | 11 | 11 | |||||||||||||||||
Commercial and industrial | - | 200 | 634 | 834 | |||||||||||||||||
Troubled Debts Restructured Defaulted | ' | ||||||||||||||||||||
Defaults of any loans modified as troubled debt restructurings made in the three and nine months ended September 30, 2014 and 2013, respectively, are listed in the table below. Defaults are defined as any loans that become 90 days past due. | |||||||||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 1 | $ | 231 | ||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 2 | $ | 187 | ||||||||||||||||||
Nine Months Ended September 30, 2014 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 4 | $ | 663 | ||||||||||||||||||
Consumer open end and junior liens | 1 | 23 | |||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
No. of Loans | Post-Modification Outstanding Recorded Balance | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||
Consumer closed end first mortgage | 3 | $ | 196 | ||||||||||||||||||
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (Stock Options [Member]) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Stock Options [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities excluded from earnings per share computation | 44,161 | 82,000 |
Earnings_Per_Share_Schedule_of
Earnings Per Share (Schedule of Earnings per 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 |
Basic Earnings Per Share | ' | ' | ' | ' |
Net income | $2,694 | $2,472 | $7,214 | $6,560 |
Dividends and accretion on preferred stock | ' | -271 | ' | -911 |
Income available to common stockholders | 2,694 | 2,201 | 7,214 | 5,649 |
Diluted Earnings Per Share | ' | ' | ' | ' |
Income available to common stockholders and assumed conversions | $2,694 | $2,201 | $7,214 | $5,649 |
Weighted-Average Shares number of common shares, basic | 7,178,055 | 7,088,660 | 7,143,597 | 7,066,670 |
Weighted-Average Shares, effect of dilutive securities stock option | 229,089 | 176,447 | 230,147 | 172,205 |
Weighted-Average Shares income available to common stockholders and assumed conversions, diluted | 7,407,144 | 7,265,107 | 7,373,744 | 7,238,875 |
Earnings per share, basic | $0.38 | $0.31 | $1.01 | $0.80 |
Earnings per share, diluted | $0.36 | $0.30 | $0.98 | $0.78 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2011 | |
Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | ||||||
Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Fair value of investments reported at less than historical cost | $96,400,000 | ' | $96,400,000 | ' | $147,800,000 | ' | ' |
Percentage of Bank portfolio | 36.50% | ' | 36.50% | ' | 55.90% | ' | ' |
Securities pledged as collateral | 0 | ' | 0 | ' | 2,500,000 | ' | ' |
Proceeds from sales of securities - available for sale | 2,800,000 | 21,700,000 | 26,047,000 | 53,179,000 | ' | ' | ' |
Gross realized gain on sale of securities | 75,000 | 436,000 | 643,000 | 898,000 | ' | ' | ' |
Gross realized losses on sale of securities | 0 | 0 | 207,000 | 63,000 | ' | ' | ' |
Current par balance | ' | ' | ' | ' | ' | 6,200,000 | ' |
Original Par | ' | ' | ' | ' | ' | $7,000,000 | $7,000,000 |
Percentage of recovery estimate depository institutions | ' | ' | 10.00% | ' | ' | ' | ' |
Percentage of recovery estimate insurance companies | ' | ' | 15.00% | ' | ' | ' | ' |
Investment_Securities_Amortize
Investment Securities (Amortized Cost and Fair Values of Securities ) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $263,200 | $269,321 |
Gross Unrealized Gains | 5,273 | 3,182 |
Gross Unrealized Losses | -4,417 | -8,155 |
Fair Value | 264,056 | 264,348 |
Mortgage-Backed Securities, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 113,082 | 104,006 |
Gross Unrealized Gains | 2,269 | 1,700 |
Gross Unrealized Losses | -598 | -2,189 |
Fair Value | 114,753 | 103,517 |
Collateralized Mortgage Obligations, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 98,705 | 108,305 |
Gross Unrealized Gains | 1,199 | 1,207 |
Gross Unrealized Losses | -1,298 | -1,934 |
Fair Value | 98,606 | 107,578 |
Federal Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4 | 5,005 |
Gross Unrealized Losses | ' | -231 |
Fair Value | 4 | 4,774 |
Municipals [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 27,259 | 27,357 |
Gross Unrealized Gains | 1,711 | 257 |
Gross Unrealized Losses | -15 | -276 |
Fair Value | 28,955 | 27,338 |
Corporate Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 24,150 | 24,648 |
Gross Unrealized Gains | 94 | 18 |
Gross Unrealized Losses | -2,506 | -3,525 |
Fair Value | $21,738 | $21,141 |
Investment_Securities_Amortize1
Investment Securities (Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Security obligations due, amortized cost, One to five years | $9,598 | ' |
Security obligations due, amortized cost, Five to ten years | 10,778 | ' |
Security obligations due, amortized cost, After ten years | 31,037 | ' |
Total security obligations due, amortized cost | 51,413 | ' |
Available for sale, amortized cost | 263,200 | 269,321 |
Security obligations due, Fair value, One to five years | 9,634 | ' |
Security obligations due, Fair value, Five to ten years | 10,864 | ' |
Security obligations due, Fair value, After ten years | 30,199 | ' |
Total Security obligations due, Fair value | 50,697 | ' |
Investment securities available for sale | 264,056 | 264,348 |
Mortgage-Backed Securities, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available for sale, amortized cost | 113,082 | 104,006 |
Investment securities available for sale | 114,753 | 103,517 |
Collateralized Mortgage Obligations, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available for sale, amortized cost | 98,705 | 108,305 |
Investment securities available for sale | $98,606 | $107,578 |
Investment_Securities_Investme
Investment Securities (Investments Gross Unrealized Losses and Fair Value in Continuous Unrealized Loss Position) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Fair Value | $96,400 | $147,800 |
Collateralized Mortgage Obligations, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 12,910 | 51,753 |
Less than 12 months, Unrealized Losses | -168 | -1,934 |
12 months or more, Fair Value | 34,981 | ' |
12 months or more, Unrealized Losses | -1,130 | ' |
Total, Fair Value | 47,891 | 51,753 |
Total, Unrealized Losses | -1,298 | -1,934 |
Federal Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 4 | 4,769 |
Less than 12 months, Unrealized Losses | ' | -231 |
Total, Fair Value | 4 | 4,769 |
Total, Unrealized Losses | ' | -231 |
Municipals [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | ' | 11,264 |
Less than 12 months, Unrealized Losses | ' | -245 |
12 months or more, Fair Value | 623 | 741 |
12 months or more, Unrealized Losses | -15 | -31 |
Total, Fair Value | 623 | 12,005 |
Total, Unrealized Losses | -15 | -276 |
Corporate Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | ' | 8,849 |
Less than 12 months, Unrealized Losses | ' | -151 |
12 months or more, Fair Value | 8,188 | 3,336 |
12 months or more, Unrealized Losses | -2,506 | -3,374 |
Total, Fair Value | 8,188 | 12,185 |
Total, Unrealized Losses | -2,506 | -3,525 |
Total Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 23,301 | 143,765 |
Less than 12 months, Unrealized Losses | -266 | -4,750 |
12 months or more, Fair Value | 73,076 | 4,077 |
12 months or more, Unrealized Losses | -4,151 | -3,405 |
Total, Fair Value | 96,377 | 147,842 |
Total, Unrealized Losses | -4,417 | -8,155 |
Mortgage-Backed Securities, Government Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months, Fair Value | 10,387 | 67,130 |
Less than 12 months, Unrealized Losses | -98 | -2,189 |
12 months or more, Fair Value | 29,284 | ' |
12 months or more, Unrealized Losses | -500 | ' |
Total, Fair Value | 39,671 | 67,130 |
Total, Unrealized Losses | ($598) | ($2,189) |
Investment_Securities_Debt_Sec
Investment Securities (Debt Securities for which Credit Loss was Recognized in Income and Other Losses Recorded in Other Comprehensive Income) (Details) (USD $) | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Investment Securities [Abstract] | ' | ' | ' | ' | ' |
Credit losses on debt securities held, beginning of year | $1,205 | $705 | $1,205 | $1,205 | $1,205 |
Reductions related to actual losses incurred | -500 | ' | ' | ' | ' |
Credit losses on debt securities held, end of period | $705 | $705 | $1,205 | $1,205 | $1,205 |
Investment_Securities_Pooled_T
Investment Securities (Pooled Trust Preferred Collateralized Debt Obligations) (Details) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2011 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |||||
Alesco Preferred Funding IX [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | |||||||||
entity | Preferred Term Securities XIII [Member] | Preferred Term Securities XVIII [Member] | Preferred Term Securities XXVII [Member] | U.S. Capital Funding I [Member] | Alesco Preferred Funding IX [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | Pooled Trust Preferred Securities [Member] | |||||||||||
entity | entity | entity | entity | Preferred Term Securities XIII [Member] | Preferred Term Securities XVIII [Member] | Preferred Term Securities XXVII [Member] | U.S. Capital Funding I [Member] | |||||||||||||
Class | ' | ' | ' | 'B+ | ' | ' | 'Caa1 | 'Ca | 'Caa3 | 'B3 | 'B2 | 'Ca | 'Ca | 'C | 'Caa1 | |||||
Original Par | ' | ' | ' | $1,000 | $7,000 | $7,000 | $1,000 | $1,000 | $1,000 | $3,000 | ' | ' | ' | ' | ' | |||||
Book Value | ' | ' | ' | 909 | 6,194 | ' | 767 | 917 | 710 | 2,891 | ' | ' | ' | ' | ' | |||||
Fair Value | 264,056 | ' | 264,348 | 559 | 3,734 | ' | 423 | 430 | 386 | 1,936 | ' | ' | ' | ' | ' | |||||
Unrealized gain (loss) | -4,417 | ' | -8,155 | -350 | -2,460 | ' | -344 | -487 | -324 | -955 | ' | ' | ' | ' | ' | |||||
Realized losses YTD | $436 | $835 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Number of Banks / Insurance Cos. Currently Performing | ' | ' | ' | 41 | ' | ' | 44 | 52 | 33 | 28 | ' | ' | ' | ' | ' | |||||
Total Number of Banks and Insurance Cos. In Issuance (Unique) | ' | ' | ' | 52 | ' | ' | 61 | 72 | 46 | 33 | ' | ' | ' | ' | ' | |||||
Actual Deferrals/Defaults (as a % of original collateral) | ' | ' | ' | 14.69% | ' | ' | 25.75% | 22.51% | 22.62% | 9.44% | ' | ' | ' | ' | ' | |||||
Total Projected Defaults (as a % of performing collateral) | ' | ' | ' | 15.78% | [1] | ' | ' | 20.21% | [1] | 10.03% | [1] | 16.29% | [1] | 8.60% | [1] | ' | ' | ' | ' | ' |
Excess subordination (after taking into account best estimate of future deferrals/defaults) | ' | ' | ' | 54.50% | [2] | ' | ' | 4.36% | [2] | 6.43% | [2] | 10.02% | [2] | 8.90% | [2] | ' | ' | ' | ' | ' |
[1] | A 10% recovery is applied to all projected defaults by depository institutions. A 15% recovery is applied to all projected defaults by insurance companies. No recovery is applied to current defaults. | |||||||||||||||||||
[2] | Excess subordination represents the additional defaults in excess of both current and projected defaults that the CDO can absorb before the bond experiences any credit impairment. Excess subordinated percentage is calculated by (a) determining what percentage of defaults a deal can experience before the bond has credit impairment, and (b) subtracting from this default breakage percentage both total current and expected future default percentages. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Components of Accumulated Other Comprehensive Income) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' |
Net unrealized gain (loss) on securities available-for-sale | $2,966 | ($2,029) |
Net unrealized loss on securities available-for-sale for which a portion of an other-than-temporary impairment has been recognized in income | -2,110 | -2,945 |
Net unrealized loss on derivative used for cash flow hedges | -132 | -259 |
Net unrealized loss relating to defined benefit plan liability | 100 | 100 |
Accumulated other comprehensive income loss before tax | 824 | -5,133 |
Tax benefit | 330 | -1,718 |
Net of tax amount | $494 | ($3,415) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Reclassification out of Accumulated Other Comprehensive Income (Loss) Alternate) (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 |
Related income tax expense | ($1,112) | ($1,092) | ($2,906) | ($2,786) |
Net Income Available to Common Shareholders | 2,694 | 2,201 | 7,214 | 5,649 |
Reclassification out of AOCI [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' |
Other Income | 75 | 453 | 436 | 835 |
Related income tax expense | -26 | -154 | -148 | -284 |
Net Income Available to Common Shareholders | $49 | $299 | $288 | $551 |
Fair_Values_of_Financial_Instr2
Fair Values of Financial Instruments (Fair Value Measurement of Assets Measured at Fair Value on Recurring Basis) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $264,056 | $264,348 |
Mortgage-Backed Securities, Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 114,753 | 103,517 |
Collateralized Mortgage Obligations, Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 98,606 | 107,578 |
Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 4 | 4,774 |
Municipals [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 28,955 | 27,338 |
Corporate Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 21,738 | 21,141 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 260,322 | 261,012 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities, Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 114,753 | 103,517 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations, Government Sponsored Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 98,606 | 107,578 |
Fair Value, Inputs, Level 2 [Member] | Federal Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 4 | 4,774 |
Fair Value, Inputs, Level 2 [Member] | Municipals [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 28,955 | 27,338 |
Fair Value, Inputs, Level 2 [Member] | Corporate Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 18,004 | 17,805 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 3,734 | 3,336 |
Fair Value, Inputs, Level 3 [Member] | Corporate Obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $3,734 | $3,336 |
Fair_Values_of_Financial_Instr3
Fair Values of Financial Instruments (Reconciliation of Recurring Fair Value Measurements Recognized in Balance Sheet using Significant Unobservable (Level Three) Inputs) (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 |
Fair Values of Financial Instruments [Abstract] | ' | ' | ' | ' |
Beginning balance | $3,738 | $3,000 | $3,336 | $2,475 |
Total realized and unrealized gains (losses) | ' | ' | ' | ' |
Included in net income | ' | ' | 56 | ' |
Included in other comprehensive income (loss) | -4 | 1 | 916 | 526 |
Purchases, sales, issuances and settlements | ' | -30 | -574 | -30 |
Ending balance | 3,734 | 2,971 | 3,734 | 2,971 |
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date | $0 | $0 | $0 | $0 |
Fair_Values_of_Financial_Instr4
Fair Values of Financial Instruments (Fair Value Measurement of Assets Measured at Fair Value on Nonrecurring Basis) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | $925 |
Other Real Estate Owned/Foreclosed Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | 251 | 1,677 |
Mortgage Servicing Rights [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | 2,106 |
Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned/Foreclosed Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned/Foreclosed Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | 925 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned/Foreclosed Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | 251 | 1,677 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Servicing Rights [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of assets on nonrecurring basis | ' | $2,106 |
Fair_Values_of_Financial_Instr5
Fair Values of Financial Instruments (Quantitative Information about Unobservable Inputs used in Recurring and Nonrecurring Level Three Fair Value Measurements) (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Pooled Trust Preferred Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $3,734 | $3,336 |
Valuation Technique | 'Discounted cash flow | 'Discounted cash flow |
Constant prepayment rate | 2.00% | 2.00% |
Cumulative projected prepayments | 40.00% | 40.00% |
Pooled Trust Preferred Securities [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount rate | 8.00% | 10.00% |
Probability of default | 1.80% | 1.50% |
Projected cures given deferral | 0.00% | 0.00% |
Loss severity | 35.40% | 46.90% |
Pooled Trust Preferred Securities [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount rate | 14.00% | 17.00% |
Probability of default | 2.80% | 2.70% |
Projected cures given deferral | 15.00% | 15.00% |
Loss severity | 70.40% | 73.70% |
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | ' | 925 |
Valuation Technique | ' | 'Third party valuations |
Impaired Loans [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount to reflect realizable value less estimated selling costs | ' | 7.30% |
Impaired Loans [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount to reflect realizable value less estimated selling costs | ' | 78.30% |
Other Real Estate Owned/Foreclosed Real Estate [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 251 | 1,677 |
Valuation Technique | 'Third party valuations | 'Third party valuations |
Other Real Estate Owned/Foreclosed Real Estate [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount to reflect realizable value less estimated selling costs | 10.00% | 0.00% |
Other Real Estate Owned/Foreclosed Real Estate [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount to reflect realizable value less estimated selling costs | 36.70% | 25.00% |
Mortgage Servicing Rights [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | ' | $2,106 |
Valuation Technique | ' | 'Third party valuations |
Discount rate | ' | 10.00% |
Servicing fee | ' | 0.25% |
Mortgage Servicing Rights [Member] | Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Constant prepayment rate | ' | 105.00% |
Mortgage Servicing Rights [Member] | Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Constant prepayment rate | ' | 700.00% |
Fair_Values_of_Financial_Instr6
Fair Values of Financial Instruments (Estimated Fair Values of Financial Instruments) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets, carrying amount | ' | ' | ' | ' |
Cash and cash equivalents | $20,499 | $25,285 | $31,940 | $32,778 |
FHLB stock, carrying amount | 14,391 | 14,391 | ' | ' |
Interest receivable, carrying amount | 3,665 | 3,775 | ' | ' |
Loans held for sale, carrying amount | 6,440 | 1,888 | ' | ' |
Loans net, carrying amount | 995,468 | 965,966 | ' | ' |
Liabilities, carrying amount | ' | ' | ' | ' |
Deposits, carrying amount | 1,098,849 | 1,113,084 | ' | ' |
FHLB advances, carrying amount | 168,523 | 142,928 | ' | ' |
Other borrowings, carrying amount | 10,353 | 10,890 | ' | ' |
Interest payable, carrying amount | 278 | 157 | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 20,499 | 25,285 | ' | ' |
FHLB stock, fair value | 14,391 | 14,391 | ' | ' |
Interest receivable, fair value | 3,665 | 3,775 | ' | ' |
Loans held for sale, fair value | 6,523 | 1,905 | ' | ' |
Loans, fair value | 993,302 | 935,414 | ' | ' |
Liabilities, fair value | ' | ' | ' | ' |
Deposits, fair value | 1,061,159 | 1,068,422 | ' | ' |
FHLB advances, fair value | 167,425 | 141,526 | ' | ' |
Other borrowings, fair value | 10,353 | 10,890 | ' | ' |
Interest payable, fair value | 278 | 157 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 20,499 | 25,285 | ' | ' |
Liabilities, fair value | ' | ' | ' | ' |
Deposits, fair value | 636,955 | 593,457 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
FHLB stock, fair value | 14,391 | 14,391 | ' | ' |
Interest receivable, fair value | 3,665 | 3,775 | ' | ' |
Loans held for sale, fair value | 6,523 | 1,905 | ' | ' |
Liabilities, fair value | ' | ' | ' | ' |
FHLB advances, fair value | 167,425 | 141,526 | ' | ' |
Other borrowings, fair value | 10,353 | 10,890 | ' | ' |
Interest payable, fair value | 278 | 157 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Loans, fair value | 993,302 | 935,414 | ' | ' |
Liabilities, fair value | ' | ' | ' | ' |
Deposits, fair value | $424,204 | $474,965 | ' | ' |
Loans_Categories_of_Loans_Deta
Loans (Categories of Loans) (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | $1,014,697 | ' | $990,207 | ' | ' | ' |
Undisbursed loans in process | -9,425 | ' | -13,346 | ' | ' | ' |
Unamortized deferred loan costs, net | 3,445 | ' | 2,517 | ' | ' | ' |
Allowance for loan losses | -13,249 | -13,243 | -13,412 | -14,454 | -15,701 | -16,038 |
Net loans | 995,468 | ' | 965,966 | ' | ' | ' |
Commercial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 309,464 | ' | 289,540 | ' | ' | ' |
Allowance for loan losses | -6,954 | -7,763 | -8,148 | -8,934 | -9,633 | -9,908 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 192,534 | ' | 200,817 | ' | ' | ' |
Commercial Construction and Development [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 29,267 | ' | 13,321 | ' | ' | ' |
Consumer [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 185,921 | ' | 169,395 | ' | ' | ' |
Allowance for loan losses | -2,134 | -2,136 | -2,140 | -2,317 | -2,406 | -2,736 |
First Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 519,312 | ' | 531,272 | ' | ' | ' |
Consumer Open End and Junior Liens [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 71,001 | ' | 69,354 | ' | ' | ' |
Consumer Auto [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 14,464 | ' | 14,856 | ' | ' | ' |
Consumer Boat/RVs [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 95,093 | ' | 79,419 | ' | ' | ' |
Consumer Other [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 5,363 | ' | 5,766 | ' | ' | ' |
Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 812,114 | ' | 814,764 | ' | ' | ' |
Real Estate [Member] | Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 192,534 | ' | 200,817 | ' | ' | ' |
Real Estate [Member] | Commercial Construction and Development [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 29,267 | ' | 13,321 | ' | ' | ' |
Real Estate [Member] | First Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 519,312 | ' | 531,272 | ' | ' | ' |
Real Estate [Member] | Consumer Open End and Junior Liens [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 71,001 | ' | 69,354 | ' | ' | ' |
Other Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 202,583 | ' | 175,443 | ' | ' | ' |
Other Loans [Member] | Consumer Auto [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 14,464 | ' | 14,856 | ' | ' | ' |
Other Loans [Member] | Consumer Boat/RVs [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 95,093 | ' | 79,419 | ' | ' | ' |
Other Loans [Member] | Consumer Other [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | 5,363 | ' | 5,766 | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans | $87,663 | ' | $75,402 | ' | ' | ' |
Loans_NonAccrual_Loan_Segregat
Loans (Non-Accrual Loan, Segregated by Class of Loans) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | $8,197 | $8,400 | $13,112 |
Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 637 | 1,109 | ' |
Commercial [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 2,073 | 1,349 | ' |
Commercial Construction and Development [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 613 | 1,103 | ' |
First Mortgage [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 4,334 | 4,057 | ' |
Consumer Open End and Junior Liens [Member] | Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 199 | 421 | ' |
Consumer Auto [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 1 | 10 | ' |
Consumer Boat/RVs [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | 289 | 339 | ' |
Consumer Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Non-accrual loans | $51 | $12 | ' |
Loans_Age_Analysis_of_Past_Due
Loans (Age Analysis of Past Due Loans Segregated by Class of Loans) (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 | $9,102 | $14,977 | ' |
60-89 Days Past Due | 2,133 | 3,169 | ' |
Greater Than 90 Days or More Past Due | 5,736 | 6,762 | ' |
Total Past Due | 16,971 | 24,908 | ' |
Current | 997,726 | 965,299 | ' |
Total loans receivable | 1,014,697 | 990,207 | ' |
Total Loans > 90 Days or More and Accruing | 217 | 188 | 390 |
Residential Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 519,312 | 531,272 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 309,464 | 289,540 | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 192,534 | 200,817 | ' |
Commercial Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 29,267 | 13,321 | ' |
First Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 519,312 | 531,272 | ' |
Consumer Open End and Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 71,001 | 69,354 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 185,921 | 169,395 | ' |
Consumer Auto [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 49 | 54 | ' |
60-89 Days Past Due | ' | 8 | ' |
Greater Than 90 Days or More Past Due | ' | 9 | ' |
Total Past Due | 49 | 71 | ' |
Current | 14,415 | 14,785 | ' |
Total loans receivable | 14,464 | 14,856 | ' |
Consumer Boat/RVs [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,004 | 1,410 | ' |
60-89 Days Past Due | 115 | 262 | ' |
Greater Than 90 Days or More Past Due | 169 | 202 | ' |
Total Past Due | 1,288 | 1,874 | ' |
Current | 93,805 | 77,545 | ' |
Total loans receivable | 95,093 | 79,419 | ' |
Total Loans > 90 Days or More and Accruing | ' | 13 | ' |
Consumer Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 31 | 61 | ' |
60-89 Days Past Due | 28 | 3 | ' |
Greater Than 90 Days or More Past Due | 5 | ' | ' |
Total Past Due | 64 | 64 | ' |
Current | 5,299 | 5,702 | ' |
Total loans receivable | 5,363 | 5,766 | ' |
Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 812,114 | 814,764 | ' |
Real Estate [Member] | Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,294 | 763 | ' |
60-89 Days Past Due | 8 | 196 | ' |
Greater Than 90 Days or More Past Due | 1,541 | 1,196 | ' |
Total Past Due | 2,843 | 2,155 | ' |
Current | 189,691 | 198,662 | ' |
Total loans receivable | 192,534 | 200,817 | ' |
Real Estate [Member] | Commercial Construction and Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | ' | 333 | ' |
Greater Than 90 Days or More Past Due | 457 | 915 | ' |
Total Past Due | 457 | 1,248 | ' |
Current | 28,810 | 12,073 | ' |
Total loans receivable | 29,267 | 13,321 | ' |
Real Estate [Member] | First Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 6,260 | 11,680 | ' |
60-89 Days Past Due | 1,217 | 2,122 | ' |
Greater Than 90 Days or More Past Due | 2,971 | 3,515 | ' |
Total Past Due | 10,448 | 17,317 | ' |
Current | 508,864 | 513,955 | ' |
Total loans receivable | 519,312 | 531,272 | ' |
Total Loans > 90 Days or More and Accruing | 217 | 175 | ' |
Real Estate [Member] | Consumer Open End and Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 257 | 609 | ' |
60-89 Days Past Due | 563 | 185 | ' |
Greater Than 90 Days or More Past Due | 129 | 394 | ' |
Total Past Due | 949 | 1,188 | ' |
Current | 70,052 | 68,166 | ' |
Total loans receivable | 71,001 | 69,354 | ' |
Other Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 202,583 | 175,443 | ' |
Other Loans [Member] | Consumer Auto [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 14,464 | 14,856 | ' |
Other Loans [Member] | Consumer Boat/RVs [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 95,093 | 79,419 | ' |
Other Loans [Member] | Consumer Other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total loans receivable | 5,363 | 5,766 | ' |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 207 | 67 | ' |
60-89 Days Past Due | 202 | 393 | ' |
Greater Than 90 Days or More Past Due | 464 | 531 | ' |
Total Past Due | 873 | 991 | ' |
Current | 86,790 | 74,411 | ' |
Total loans receivable | $87,663 | $75,402 | ' |
Loans_Impaired_Loans_Details
Loans (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 |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | $1,659 | $679 | $1,659 | $679 | $764 |
Unpaid principal balance | 1,659 | 679 | 1,659 | 679 | 764 |
Average investment in impaired loans | 1,203 | 798 | 1,189 | 876 | 897 |
Interest income recognized | ' | 10 | 11 | 18 | 2 |
Impaired Financing Receivable With Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | ' | 424 | ' | 424 | 424 |
Unpaid principal balance | ' | 624 | ' | 624 | 624 |
Specific Allowance | ' | 235 | ' | 235 | 235 |
Average investment in impaired loans | ' | 429 | ' | 601 | 566 |
Interest income recognized | ' | 6 | ' | 15 | 20 |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | 1,103 | ' | 1,103 | 1,188 |
Unpaid principal balance, total | ' | 1,303 | ' | 1,303 | 1,388 |
Average investment in impaired loans, total | ' | 1,227 | ' | 1,477 | 1,463 |
Interest income recognized, total | ' | 16 | ' | 33 | 22 |
Commercial [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | ' | 2,894 | ' | 2,894 | ' |
Unpaid principal balance | ' | 3,958 | ' | 3,958 | ' |
Average investment in impaired loans | ' | 2,953 | ' | 3,545 | ' |
Interest income recognized | ' | 40 | ' | 109 | ' |
Impaired Financing Receivable With Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | ' | 204 | ' | 204 | ' |
Unpaid principal balance | ' | 204 | ' | 204 | ' |
Specific Allowance | ' | 100 | ' | 100 | ' |
Average investment in impaired loans | ' | 205 | ' | 206 | ' |
Interest income recognized | ' | 3 | ' | 9 | ' |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | 3,098 | ' | 3,098 | ' |
Unpaid principal balance, total | ' | 4,162 | ' | 4,162 | ' |
Average investment in impaired loans, total | ' | 3,158 | ' | 3,751 | ' |
Interest income recognized, total | ' | 43 | ' | 118 | ' |
Commercial Real Estate [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | 4,088 | ' | 4,088 | ' | 3,148 |
Unpaid principal balance | 4,088 | ' | 4,088 | ' | 3,660 |
Average investment in impaired loans | 3,475 | ' | 3,262 | ' | 3,894 |
Interest income recognized | 38 | ' | 102 | ' | 160 |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | ' | ' | ' | 3,148 |
Unpaid principal balance, total | ' | ' | ' | ' | 3,660 |
Average investment in impaired loans, total | ' | ' | ' | ' | 3,894 |
Interest income recognized, total | ' | ' | ' | ' | 160 |
Commercial Construction and Development [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | 1,196 | 3,331 | 1,196 | 3,331 | 1,294 |
Unpaid principal balance | 2,567 | 7,332 | 2,567 | 7,332 | 3,218 |
Average investment in impaired loans | 1,235 | 4,782 | 1,421 | 6,112 | 5,386 |
Interest income recognized | 7 | 23 | 23 | 57 | 46 |
Impaired Financing Receivable With Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | ' | 622 | ' | 622 | 344 |
Unpaid principal balance | ' | 2,020 | ' | 2,020 | 371 |
Specific Allowance | ' | 200 | ' | 200 | 100 |
Average investment in impaired loans | ' | 622 | ' | 640 | 344 |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | 3,953 | ' | 3,953 | 1,638 |
Unpaid principal balance, total | ' | 9,352 | ' | 9,352 | 3,589 |
Average investment in impaired loans, total | ' | 5,404 | ' | 6,752 | 5,730 |
Interest income recognized, total | ' | 23 | ' | 57 | 46 |
First Mortgage [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | 1,639 | 1,700 | 1,639 | 1,700 | 1,483 |
Unpaid principal balance | 1,639 | 2,639 | 1,639 | 2,639 | 2,071 |
Average investment in impaired loans | 1,243 | 2,167 | 1,144 | 2,732 | 2,582 |
Interest income recognized | 1 | 11 | 6 | 45 | 33 |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | 1,700 | ' | 1,700 | 1,483 |
Unpaid principal balance, total | ' | 2,639 | ' | 2,639 | 2,071 |
Average investment in impaired loans, total | ' | 2,167 | ' | 2,732 | 2,582 |
Interest income recognized, total | ' | 11 | ' | 45 | 33 |
Consumer Open End and Junior Liens [Member] | Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance [Abstract] | ' | ' | ' | ' | ' |
Recorded balance | ' | 250 | ' | 250 | ' |
Unpaid principal balance | ' | 250 | ' | 250 | ' |
Average investment in impaired loans | ' | 250 | 125 | 125 | ' |
Interest income recognized | ' | 1 | 3 | 3 | ' |
Impaired Financing Receivables Total [Abstract] | ' | ' | ' | ' | ' |
Recorded balance, total | ' | 250 | ' | 250 | ' |
Unpaid principal balance, total | ' | 250 | ' | 250 | ' |
Average investment in impaired loans, total | ' | 250 | ' | 125 | ' |
Interest income recognized, total | ' | $1 | ' | $3 | ' |
Loans_Commercial_and_Retail_Cr
Loans (Commercial and Retail Credit Exposure Credit Risk Profile by Internal Rating) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $1,014,697 | $990,207 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 519,312 | 531,272 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 309,464 | 289,540 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 192,534 | 200,817 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 181,595 | 190,041 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,329 | 3,308 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,610 | 7,468 |
Commercial Construction and Development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 29,267 | 13,321 |
Commercial Construction and Development [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 25,890 | 9,910 |
Commercial Construction and Development [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,728 | 1,659 |
Commercial Construction and Development [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,649 | 1,752 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 185,921 | 169,395 |
First Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 519,312 | 531,272 |
First Mortgage [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 510,555 | 522,352 |
First Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,719 | 1,783 |
First Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,038 | 7,137 |
Consumer Open End and Junior Liens [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 71,001 | 69,354 |
Consumer Open End and Junior Liens [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 70,683 | 68,445 |
Consumer Open End and Junior Liens [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 318 | 909 |
Consumer Auto [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 14,464 | 14,856 |
Consumer Auto [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 14,454 | 14,834 |
Consumer Auto [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 10 | 22 |
Consumer Boat/RVs [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 95,093 | 79,419 |
Consumer Boat/RVs [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 94,598 | 78,863 |
Consumer Boat/RVs [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 495 | 556 |
Consumer Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,363 | 5,766 |
Consumer Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,280 | 5,415 |
Consumer Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 83 | 351 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 87,663 | 75,402 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 82,821 | 73,648 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 368 | 223 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,010 | 1,000 |
Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $464 | $531 |
Loans_Activity_in_Allowance_fo
Loans (Activity in Allowance for Loan Losses by Portfolio Segment) (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 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses, Beginning of period | $13,243 | $15,701 | $13,412 | $16,038 | $16,038 |
Provision charged to expense | ' | 750 | 850 | 2,250 | 1,300 |
Losses charged off | -190 | -2,091 | -1,402 | -4,161 | -4,539 |
Recoveries | 196 | 94 | 389 | 327 | 613 |
Allowance for loan losses, End of period | 13,249 | 14,454 | 13,249 | 14,454 | 13,412 |
Allowance for loan losses, individually evaluated for impairment, Ending balance | ' | ' | ' | ' | 335 |
Allowance for loan losses, collectively evaluated for impairment, Ending balance | 13,249 | ' | 13,249 | ' | 13,077 |
Total allowance for loan losses | 13,249 | 14,454 | 13,249 | 14,454 | 13,412 |
Loans, individually evaluated for impairment, Ending balance | 8,582 | ' | 8,582 | ' | 7,457 |
Loans, collectively evaluated for impairment, Ending balance | 1,006,115 | ' | 1,006,115 | ' | 982,750 |
Total loans receivable | 1,014,697 | ' | 1,014,697 | ' | 990,207 |
Commercial [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses, Beginning of period | 7,763 | 9,633 | 8,148 | 9,908 | 9,908 |
Provision charged to expense | -914 | 1,004 | -1,101 | 1,675 | 884 |
Losses charged off | ' | -1,713 | -244 | -2,681 | -2,713 |
Recoveries | 105 | 10 | 151 | 32 | 69 |
Allowance for loan losses, End of period | 6,954 | 8,934 | 6,954 | 8,934 | 8,148 |
Allowance for loan losses, individually evaluated for impairment, Ending balance | ' | ' | ' | ' | 335 |
Allowance for loan losses, collectively evaluated for impairment, Ending balance | 6,954 | ' | 6,954 | ' | 7,813 |
Total allowance for loan losses | 6,954 | 8,934 | 6,954 | 8,934 | 8,148 |
Loans, individually evaluated for impairment, Ending balance | 6,943 | ' | 6,943 | ' | 5,974 |
Loans, collectively evaluated for impairment, Ending balance | 302,521 | ' | 302,521 | ' | 283,566 |
Total loans receivable | 309,464 | ' | 309,464 | ' | 289,540 |
Residential Mortgage [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses, Beginning of period | 3,344 | 3,662 | 3,124 | 3,394 | 3,394 |
Provision charged to expense | 935 | -215 | 1,400 | 469 | 343 |
Losses charged off | -141 | -274 | -391 | -716 | -886 |
Recoveries | 23 | 30 | 28 | 56 | 273 |
Allowance for loan losses, End of period | 4,161 | 3,203 | 4,161 | 3,203 | 3,124 |
Allowance for loan losses, collectively evaluated for impairment, Ending balance | 4,161 | ' | 4,161 | ' | 3,124 |
Total allowance for loan losses | 4,161 | 3,203 | 4,161 | 3,203 | 3,124 |
Loans, individually evaluated for impairment, Ending balance | 1,639 | ' | 1,639 | ' | 1,483 |
Loans, collectively evaluated for impairment, Ending balance | 517,673 | ' | 517,673 | ' | 529,789 |
Total loans receivable | 519,312 | ' | 519,312 | ' | 531,272 |
Consumer [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses, Beginning of period | 2,136 | 2,406 | 2,140 | 2,736 | 2,736 |
Provision charged to expense | -21 | -39 | 551 | 106 | 73 |
Losses charged off | -49 | -104 | -767 | -764 | -940 |
Recoveries | 68 | 54 | 210 | 239 | 271 |
Allowance for loan losses, End of period | 2,134 | 2,317 | 2,134 | 2,317 | 2,140 |
Allowance for loan losses, collectively evaluated for impairment, Ending balance | 2,134 | ' | 2,134 | ' | 2,140 |
Total allowance for loan losses | 2,134 | 2,317 | 2,134 | 2,317 | 2,140 |
Loans, collectively evaluated for impairment, Ending balance | 185,921 | ' | 185,921 | ' | 169,395 |
Total loans receivable | $185,921 | ' | $185,921 | ' | $169,395 |
Loans_NonPerforming_Assets_Exc
Loans (Non-Performing Assets Excluding Restructured Loans) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Loans [Abstract] | ' | ' | ' |
Non-accrual loans | $8,197 | $8,400 | $13,112 |
Accruing loans 90 days + past due | 217 | 188 | 390 |
Total non-performing loans | 8,414 | ' | 13,502 |
Foreclosed real estate | 6,334 | ' | 6,750 |
Other repossessed assets | 504 | ' | 312 |
Total non-performing assets | $15,252 | ' | $20,564 |
Loans_Troubled_Debts_Restructu
Loans (Troubled Debts Restructured) (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Auto [Member] | Consumer Boat/RVs [Member] | Consumer Boat/RVs [Member] | Consumer Other [Member] | |
loan | Troubled Debts Restructured [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | loan | loan | Troubled Debts Restructured [Member] | loan | |
loan | loan | loan | Troubled Debts Restructured [Member] | Troubled Debts Restructured [Member] | loan | loan | Troubled Debts Restructured [Member] | Troubled Debts Restructured [Member] | loan | loan | Troubled Debts Restructured [Member] | Troubled Debts Restructured [Member] | loan | |||||
loan | loan | loan | loan | loan | loan | |||||||||||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
No. of Loans | 3 | 2 | 4 | 3 | 1 | 5 | 4 | 21 | 4 | 11 | 1 | 26 | 8 | 4 | 2 | 6 | 2 | 1 |
Pre-Modification Outstanding Recorded Balance | $1,122 | $193 | $968 | $1,532 | $192 | $1,218 | $665 | $1,462 | $460 | $1,379 | $14 | $945 | $274 | $48 | $22 | $172 | $45 | $11 |
Post-Modification Outstanding Recorded Balance | $834 | $223 | $987 | $1,593 | $260 | $1,237 | $285 | $1,812 | $492 | $1,026 | $15 | $955 | $272 | $49 | $22 | $171 | $45 | $11 |
Loans_Newly_Restructured_Loans
Loans (Newly Restructured Loans by Type) (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 |
Consumer Auto [Member] | Consumer Auto [Member] | Consumer Boat/RVs [Member] | Consumer Boat/RVs [Member] | Consumer Boat/RVs [Member] | Consumer Other [Member] | Consumer Other [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Real Estate [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | |
Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | Commercial [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Consumer Open End and Junior Liens [Member] | Newly Restructured Loans [Member] | Commercial [Member] | |||||
Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | Newly Restructured Loans [Member] | |||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Only | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $101 | ' | ' | $101 | ' | ' | ' | ' | ' | $250 | ' | ' | ' |
Term | ' | 4 | ' | 14 | 135 | ' | ' | ' | 689 | ' | ' | 689 | ' | ' | ' | ' | ' | ' | ' | ' | 128 | 19 | 402 | ' | 200 | 223 |
Combination | ' | 18 | ' | 31 | 36 | ' | 11 | ' | 298 | ' | 260 | 548 | 1,593 | 184 | ' | 492 | 925 | 1,812 | 15 | ' | 144 | 30 | 303 | ' | 634 | ' |
Total modification | $22 | $22 | $171 | $45 | $171 | $11 | $11 | ' | $987 | $1,593 | $260 | $1,237 | $1,593 | $285 | $1,812 | $492 | $1,026 | $1,812 | $15 | $955 | $272 | $49 | $955 | $834 | $834 | $223 |
Loans_Troubled_Debts_Restructu1
Loans (Troubled Debts Restructured Defaulted) (Details) (Troubled Debt Defaulted [Member], Real Estate [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 |
loan | loan | loan | loan | |
First Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
No. of Loans | 1 | 2 | 4 | 3 |
Post-Modification Outstanding Recorded Balance | $231 | $187 | $663 | $196 |
Consumer Open End and Junior Liens [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
No. of Loans | ' | ' | 1 | ' |
Post-Modification Outstanding Recorded Balance | ' | ' | $23 | ' |
Acquisition_Narrative_Details
Acquisition (Narrative) (Details) (USD $) | Aug. 01, 2014 |
In Millions, unless otherwise specified | |
Acquisitiion [Abstract] | ' |
Business acquisition insignificant assets and goodwill | $1.80 |
Business acquisition intangible asseets | $0 |