Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'PATRIOT NATIONAL BANCORP INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 39,160,627 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001098146 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Balance_Sheets_Cu
Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and due from banks: | ' | ' |
Noninterest bearing deposits and cash | $1,530 | $1,570 |
Interest bearing deposits | 56,060 | 33,296 |
Total cash and cash equivalents | 57,590 | 34,866 |
Securities: | ' | ' |
Available for sale securities, at fair value (Note 2) | 34,571 | 37,701 |
Other Investments | 4,450 | 4,450 |
Federal Reserve Bank stock, at cost | 1,541 | 1,444 |
Federal Home Loan Bank stock, at cost | 6,428 | 4,143 |
Total securities | 46,990 | 47,738 |
Loans receivable (net of allowance for loan losses: 2014: $4,913 2013: $5,681) (Note 3) | 458,893 | 418,148 |
Accrued interest and dividends receivable | 1,649 | 1,566 |
Premises and equipment, net | 18,651 | 15,061 |
Cash surrender value of life insurance | 22,378 | 22,025 |
Deferred tax asset (Note 6) | 16,812 | 0 |
Other assets | 1,292 | 1,844 |
Total assets | 624,255 | 541,248 |
Deposits (Note 4): | ' | ' |
Noninterest bearing deposits | 62,657 | 55,358 |
Interest bearing deposits | 358,458 | 374,846 |
Total deposits | 421,115 | 430,204 |
Federal Home Loan Bank borrowings | 132,000 | 57,000 |
Junior subordinated debt owed to unconsolidated trust | 8,248 | 8,248 |
Accrued expenses and other liabilities | 2,191 | 3,955 |
Total liabilities | 563,554 | 499,407 |
Commitments and Contingencies (Note 9) | ' | ' |
Shareholders' equity (Notes 5 and 10) | ' | ' |
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding | ' | ' |
Common stock, $.01 par value, 100,000,000 shares authorized; 2014: 39,172,332 shares issued; 39,160,627 shares outstanding. 2013 :38,786,680 shares issued; 38,774,975 shares outstanding | 392 | 388 |
Additional paid-in capital | 105,683 | 105,484 |
Accumulated deficit | -44,579 | -62,684 |
Less: Treasury stock, at cost: 2014 and 2013, 11,705 shares | -160 | -160 |
Accumulated other comprehensive income | -635 | -1,187 |
Total shareholders' equity | 60,701 | 41,841 |
Total liabilities and shareholders' equity | $624,255 | $541,248 |
Consolidated_Balance_Sheets_Cu1
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Net of allowance for loan losses (in Dollars) | $4,913 | $5,681 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, par value (in Dollars per share) | $0 | $0 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 39,172,332 | 38,786,680 |
Common stock, shares outstanding | 39,160,627 | 38,774,975 |
Treasury stock, shares | 11,705 | 11,705 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Interest and Dividend Income | ' | ' | ' | ' |
Interest and fees on loans | $4,792,000 | $5,427,000 | $14,150,000 | $15,668,000 |
Interest on investment securities | 132,000 | 148,000 | 400,000 | 622,000 |
Dividends on investment securities | 39,000 | 29,000 | 122,000 | 87,000 |
Other interest income | 14,000 | 10,000 | 40,000 | 47,000 |
Total interest and dividend income | 4,977,000 | 5,614,000 | 14,712,000 | 16,424,000 |
Interest Expense | ' | ' | ' | ' |
Interest on deposits | 579,000 | 893,000 | 1,823,000 | 3,054,000 |
Interest on Federal Home Loan Bank borrowings | 41,000 | 119,000 | 107,000 | 637,000 |
Interest on subordinated debt | 71,000 | 71,000 | 353,000 | 213,000 |
Interest on other borrowings | ' | ' | ' | 82,000 |
Total interest expense | 691,000 | 1,083,000 | 2,283,000 | 3,986,000 |
Net interest income | 4,286,000 | 4,531,000 | 12,429,000 | 12,438,000 |
Provision for Loan Losses | ' | 1,000,000 | ' | 970,000 |
Net interest income after provision for loan losses | 4,286,000 | 3,531,000 | 12,429,000 | 11,468,000 |
Non-Interest Income | ' | ' | ' | ' |
Mortgage banking activity | ' | 96,000 | 17,000 | 261,000 |
Loan application, inspection & processing fees | 44,000 | 54,000 | 193,000 | 208,000 |
Fees and service charges | 250,000 | 176,000 | 702,000 | 559,000 |
Gains on sale of loans | ' | ' | ' | 28,000 |
Gain on sale branch assets and deposits | ' | ' | ' | 51,000 |
Earnings on cash surrender value of life insurance | 116,000 | 129,000 | 353,000 | 398,000 |
Other income | 177,000 | 105,000 | 538,000 | 311,000 |
Total non-interest income | 587,000 | 560,000 | 1,803,000 | 1,816,000 |
Non-Interest Expense | ' | ' | ' | ' |
Salaries and benefits | 2,090,000 | 2,158,000 | 6,037,000 | 7,740,000 |
Occupancy and equipment expense | 840,000 | 981,000 | 2,627,000 | 2,956,000 |
Data processing expense | 312,000 | 366,000 | 841,000 | 1,026,000 |
Advertising and promotional expenses | 61,000 | 40,000 | 185,000 | 158,000 |
Professional and other outside services | 422,000 | 740,000 | 1,350,000 | 2,399,000 |
Loan administration and processing expenses | 29,000 | 41,000 | 65,000 | 192,000 |
Regulatory assessments | 233,000 | 243,000 | 700,000 | 921,000 |
Insurance expense | 88,000 | 89,000 | 263,000 | 251,000 |
Other real estate operations | ' | 34,000 | 12,000 | 91,000 |
Material and communications | 97,000 | 94,000 | 274,000 | 302,000 |
Restructuring charges and asset disposals (Note 12) | ' | 54,000 | 0 | 448,000 |
Prepayment penalty on borrowings | ' | 1,405,000 | ' | 4,116,000 |
Other operating expenses | 252,000 | 216,000 | 585,000 | 944,000 |
Total non-interest expense | 4,424,000 | 6,461,000 | 12,939,000 | 21,544,000 |
Income (loss) before income taxes | 449,000 | -2,370,000 | 1,293,000 | -8,260,000 |
Benefit for Income Taxes | -16,812,000 | 0 | -16,812,000 | -21,000 |
Net income (loss) | $17,261,000 | ($2,370,000) | $18,105,000 | ($8,239,000) |
Basic and diluted income (loss) per share (in Dollars per share) | $0.45 | ($0.06) | $0.47 | ($0.21) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net income (loss) | $17,261,000 | ($2,370,000) | $18,105,000 | ($8,239,000) |
Other comprehensive income: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | 51,000 | -265,000 | 552,000 | -839,000 |
Total | 51,000 | -265,000 | 552,000 | -839,000 |
Comprehensive income (loss) | $17,312,000 | ($2,635,000) | $18,657,000 | ($9,078,000) |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Balance at Dec. 31, 2012 | $385,000 | $105,356,000 | ($55,395,000) | ($160,000) | ($618,000) | $49,568,000 |
Balance (in Shares) at Dec. 31, 2012 | 38,480,114 | ' | ' | ' | ' | ' |
Comprehensive income | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | -8,239,000 | ' | ' | -8,239,000 |
Unrealized holding gain on available for sale securities | ' | ' | ' | ' | -839,000 | -839,000 |
Total comprehensive income (loss) | ' | ' | ' | ' | ' | -9,078,000 |
Share-based compensation expense | ' | 71,000 | ' | ' | ' | 71,000 |
Issuance of restricted stock | 2,000 | -2,000 | ' | ' | ' | ' |
Issuance of restricted stock (in Shares) | 189,092 | ' | ' | ' | ' | ' |
Balance at Sep. 30, 2013 | 387,000 | 105,425,000 | -63,634,000 | -160,000 | -1,457,000 | 40,561,000 |
Balance (in Shares) at Sep. 30, 2013 | 38,669,206 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | 388,000 | 105,484,000 | -62,684,000 | -160,000 | -1,187,000 | 41,841,000 |
Balance (in Shares) at Dec. 31, 2013 | 38,774,975 | ' | ' | ' | ' | ' |
Comprehensive income | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | ' | 18,105,000 | ' | ' | 18,105,000 |
Unrealized holding gain on available for sale securities | ' | ' | ' | ' | 552,000 | 552,000 |
Total comprehensive income (loss) | ' | ' | ' | ' | ' | 18,657,000 |
Share-based compensation expense | ' | 203,000 | ' | ' | ' | 203,000 |
Issuance of restricted stock | 4,000 | -4,000 | ' | ' | ' | ' |
Issuance of restricted stock (in Shares) | 385,652 | ' | ' | ' | ' | ' |
Balance at Sep. 30, 2014 | $392,000 | $105,683,000 | ($44,579,000) | ($160,000) | ($635,000) | $60,701,000 |
Balance (in Shares) at Sep. 30, 2014 | 39,160,627 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Net income (loss): | $18,105,000 | ($8,239,000) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ' | ' |
Restructuring charges and asset disposals | ' | -198,000 |
Amortization of investment premiums, net | 186,000 | 139,000 |
Amortization and accretion of purchase loan premiums and discounts, net | 16,000 | 17,000 |
Provision for loan losses | ' | 970,000 |
Gain on sale of loans | ' | -28,000 |
Gain on sale of mortgage loans | ' | -260,000 |
Originations of mortgage loans held for sale | ' | -35,647,000 |
Proceeds from sales of mortgage loans held for sale | ' | 37,061,000 |
Earnings on cash surrender value of life insurance | -353,000 | -398,000 |
Depreciation and amortization | 835,000 | 869,000 |
Loss (gain) on sale of other real estate owned | 4,000 | -200,000 |
Proceeds from sale of branch assets and deposits | ' | 127,000 |
Gain on sale of branch assets and deposits | ' | -51,000 |
Share-based compensation | 203,000 | 71,000 |
Changes in assets and liabilities: | ' | ' |
Increase in net deferred loan costs | -36,000 | -198,000 |
(Increase) decrease in accrued interest and dividends receivable | -83,000 | 343,000 |
Increase in deferred tax asset | -16,812,000 | ' |
Decrease in other assets | 552,000 | 1,128,000 |
Decrease in accrued expenses and other liabilities | -1,764,000 | -1,633,000 |
Net cash provided by (used in) operating activities | 853,000 | -6,127,000 |
Cash Flows from Investing Activities: | ' | ' |
Principal repayments on available for sale securities | 3,496,000 | 2,445,000 |
(Purchases) redemptions of Federal Reserve Bank stock | -97,000 | 212,000 |
(Purchases) redemptions of Federal Home Loan Bank stock | -2,285,000 | 201,000 |
Proceeds from sale of loans | ' | 10,655,000 |
(Increase) decrease in loans | -40,725,000 | 17,520,000 |
Purchase of other real estate owned | -264,000 | ' |
Proceeds from sale of other real estate owned | 260,000 | 1,310,000 |
Capital improvements of other real estate owned | ' | -80,000 |
Purchase of bank premises and equipment, net | -4,425,000 | -2,654,000 |
Net cash (used in) provided by investing activities | -44,040,000 | 29,609,000 |
Cash Flows from Financing Activities: | ' | ' |
Net decrease in deposits | -9,089,000 | -41,622,000 |
Decrease in deposits held for sale | ' | -14,538,000 |
Increase (decrease) in FHLB borrowings | 75,000,000 | -8,000,000 |
Decrease in repurchase agreements | ' | -7,000,000 |
Net cash provided by (used in) financing activities | 65,911,000 | -71,160,000 |
Net increase (decrease) in cash and cash equivalents | 22,724,000 | -47,678,000 |
Cash and Cash Equivalents: | ' | ' |
Beginning | 34,866,000 | 71,014,000 |
Ending | 57,590,000 | 23,336,000 |
Supplemental Disclosures of Cash Flow Information | ' | ' |
Interest paid | 3,580,000 | 3,914,000 |
Income taxes paid | 3,000 | 3,000 |
Supplemental disclosures of noncash operating, investing and financing activities: | ' | ' |
Unrealized holding gain (loss) on available for sale securities arising during the period | 552,000 | -839,000 |
Reduction in deposits held for sale | ' | 10,167,000 |
Reduction in branch assets held for sale | ' | $12,000 |
Note_1_Basis_of_Financial_Stat
Note 1 - Basis of Financial Statement Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Basis of Accounting [Text Block] | ' |
Note 1: Basis of Financial Statement Presentation | |
The Consolidated Balance Sheet at December 31, 2013 has been derived from the audited financial statements of Patriot National Bancorp, Inc. (“Bancorp” or “the Company”) at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. | |
The accompanying unaudited financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The accompanying consolidated financial statements and related notes should be read in conjunction with the previously filed audited financial statements of Bancorp and notes thereto for the year ended December 31, 2013. | |
The information furnished reflects, in the opinion of management, all normal recurring adjustments necessary for a fair presentation of the results for the interim periods presented. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results of operations that may be expected for the remainder of 2014. |
Note_2_Investment_Securities
Note 2 - Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||
Note 2: Investment Securities | |||||||||||||||||||||||||
The amortized cost, gross unrealized losses and approximate fair values of available-for-sale securities at September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||
(in thousands) | Amortized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Losses | Value | |||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (186 | ) | $ | 7,314 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 18,706 | (399 | ) | 18,307 | |||||||||||||||||||||
Corporate bonds | 9,000 | (50 | ) | 8,950 | |||||||||||||||||||||
$ | 35,206 | $ | (635 | ) | $ | 34,571 | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (421 | ) | $ | 7,079 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 22,388 | (636 | ) | 21,752 | |||||||||||||||||||||
Corporate bonds | 9,000 | (130 | ) | 8,870 | |||||||||||||||||||||
$ | 38,888 | $ | (1,187 | ) | $ | 37,701 | |||||||||||||||||||
There were no purchases or sales of available-for-sale securities during 2014 as of September 30, 2014. | |||||||||||||||||||||||||
The following table presents the gross unrealized loss and fair value of Bancorp’s available-for-sale securities, aggregated by the length of time the individual securities have been in a continuous loss position, at September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | - | $ | - | $ | 7,314 | $ | (186 | ) | $ | 7,314 | $ | (186 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | - | - | 18,307 | (399 | ) | 18,307 | (399 | ) | |||||||||||||||||
Corporate bonds | - | - | 8,950 | (50 | ) | 8,950 | (50 | ) | |||||||||||||||||
Totals | $ | - | $ | - | $ | 34,571 | $ | (635 | ) | $ | 34,571 | $ | (635 | ) | |||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,079 | $ | (421 | ) | $ | - | $ | - | $ | 7,079 | $ | (421 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | 8,871 | (291 | ) | 12,881 | (345 | ) | 21,752 | (636 | ) | ||||||||||||||||
Corporate bonds | - | - | 8,870 | (130 | ) | 8,870 | (130 | ) | |||||||||||||||||
Totals | $ | 15,950 | $ | (712 | ) | $ | 21,751 | $ | (475 | ) | $ | 37,701 | $ | (1,187 | ) | ||||||||||
At September 30, 2014, all eleven available-for-sale securities had unrealized holding losses with aggregate depreciation of 1.8% from the amortized cost. At December 31, 2013, all eleven securities had unrealized losses with aggregate depreciation of 3.2% from the amortized cost. | |||||||||||||||||||||||||
Bancorp performs a quarterly analysis of those securities that are in an unrealized loss position to determine if those losses qualify as other-than-temporary impairments. This analysis considers the following criteria in its determination: the ability of the issuer to meet its obligations when the loss position is due to a deterioration in credit quality, management’s plans and ability to maintain its investment in the security, the length of time and the amount by which the security has been in a loss position, the interest rate environment, the general economic environment and prospects or projections for improvement or deterioration. | |||||||||||||||||||||||||
Management believes that none of the unrealized losses on available-for-sale securities noted above are other than temporary due to the fact that they relate to market interest rate changes on U.S. Government agency debt, corporate debt and mortgage-backed securities issued by U.S. Government agencies. Management considers the issuers of the securities to be financially sound, the corporate bonds are investment grade and the Company expects to receive all contractual principal and interest related to these investments. Because the Company does not intend to sell the investments, and it is not more-likely-than-not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||
The amortized cost and fair value of available-for-sale debt securities at September 30, 2014 by contractual maturity are presented below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be prepaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following summary: | |||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
Maturity: | |||||||||||||||||||||||||
Corporate bonds 5 to 10 years | $ | 9,000 | $ | 8,950 | |||||||||||||||||||||
U.S. Government agency bonds < 5 years | 2,500 | 2,484 | |||||||||||||||||||||||
U.S. Government agency bonds 5 to 10 years | 5,000 | 4,830 | |||||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 18,706 | 18,307 | |||||||||||||||||||||||
Total | $ | 35,206 | $ | 34,571 | |||||||||||||||||||||
Note_3_Loans_Receivable_and_Al
Note 3 - Loans Receivable and Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 3: Loans Receivable and Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of the Company’s loan portfolio at September 30, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 255,556 | $ | 222,772 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 85,942 | 106,968 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 8,622 | 260 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to permanent | 11,725 | 11,372 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 56,432 | 35,137 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer home equity | 41,228 | 44,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer installment | 4,301 | 3,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Loans | 463,806 | 423,829 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (4,913 | ) | (5,681 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | $ | 458,893 | $ | 418,148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The changes in the allowance for loan losses for the periods shown are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 5,214 | $ | 5,322 | $ | 5,681 | $ | 6,016 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision for loan losses | - | 1,000 | - | 970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (326 | ) | (123 | ) | (828 | ) | (840 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries of loans previously charged-off | 25 | 17 | 60 | 70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, end of period | $ | 4,913 | $ | 6,216 | $ | 4,913 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company's lending activities are conducted principally in Fairfield and New Haven Counties in Connecticut and Westchester County in New York. The Company originates commercial real estate loans, commercial business loans, and a variety of consumer loans. In addition, the Company previously had originated loans on residential real estate. All residential and commercial mortgage loans are collateralized primarily by first or second mortgages on real estate. The ability and willingness of borrowers to satisfy their loan obligations is dependent to some degree on the status of the regional economy as well as upon the regional real estate market. Accordingly, the ultimate collectability of a substantial portion of the loan portfolio and the recovery of a substantial portion of any resulting real estate acquired is susceptible to changes in market conditions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company has established credit policies applicable to each type of lending activity in which it engages, evaluates the creditworthiness of each customer and, in most cases, extends credit of up to 75% of the market value of the collateral for commercial real estate at the date of the credit extension depending on the Company's evaluation of the borrowers' creditworthiness and type of collateral and up to 80% for multi–family real estate. In the case of construction loans, the maximum loan-to-value is 65% of the “as completed” appraised value. The appraised value of collateral is monitored on an ongoing basis and additional collateral is requested when warranted. Real estate is the primary form of collateral. Other important forms of collateral are accounts receivable, inventory, other business assets, marketable securities and time deposits. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk characteristics of the Company’s portfolio classes include the following: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate Loans – In underwriting commercial real estate loans, the Company evaluates both the prospective borrower’s ability to make timely payments on the loan and the value of the property securing the loans. Repayment of such loans may be negatively impacted should the borrower default or should there be a substantial decline in the value of the property securing the loan or decline in general economic conditions. Where the owner occupies the property, the Company also evaluates the business ability to repay the loan on a timely basis. In addition, the Company may require personal guarantees, lease assignments and/or the guarantee of the operating company when the property is owner occupied. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and Industrial Loans – The Company’s commercial and industrial loan portfolio consists primarily of commercial business loans and lines of credit to businesses and professionals. These loans are usually made to finance accounts receivable, the purchase of inventory or new or used equipment and for other short or long-term working capital purposes. These loans are generally secured by business assets, but are also occasionally offered on an unsecured basis. In granting this type of loan, the Company primarily looks to the borrower’s cash flow as the source of repayment with collateral and personal guarantees, where obtained, as a secondary source. Payments on such loans are often dependent upon the successful operation of the underlying business involved. Repayment of such loans may therefore be negatively impacted by adverse changes in economic conditions, management’s inability to effectively manage the business, claims of others against the borrower’s assets which may take priority over the Company’s claims against assets, death or disability of the borrower or loss of markets for the borrower’s products or services. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans – Home equity loans secured by real estate properties are offered by the Company. The company no longer offers residential mortgages, having exited this business in 2013. Repayment of residential real estate loans may be negatively impacted should the borrower have financial difficulties, should there be a significant decline in the value of the property securing the loan or should there be decline in general economic conditions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction Loans – Construction loans are short-term loans (generally up to 18 months) secured by land for both residential and commercial development. The loans are generally made for acquisition and improvements. Funds are disbursed as phases of construction are completed. Included in this category are loans to construct single family homes where no contract of sale exists, based upon the experience and the financial strength of the builder, the type and location of the property and other factors. Construction loans are generally personally guaranteed by the principal(s). Repayment of such loans may be negatively impacted by the builders’ inability to complete construction, by a downturn in the new construction market, by a significant increase in interest rates or by a decline in general economic conditions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other/Consumer Loans – The Company also offers installment loans, credit cards, consumer overdraft and reserve lines of credit to individuals. Repayments of such loans are often dependent on the personal income of the borrower which may be negatively impacted by adverse changes in economic conditions. The Company does not place a high emphasis on originating these types of loans. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company does not have any lending programs commonly referred to as subprime lending. Subprime lending generally targets borrowers with weakened credit histories typically characterized by payment delinquencies, previous charge-offs, judgments, bankruptcies, or borrowers with questionable repayment capacity as evidenced by low credit scores or high debt-burdened ratios. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth activity in our allowance for loan losses, by loan type, for the three months ended September 30, 2014. The following table also details the amount of loans receivable that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Commercial | Construction to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Real Estate | Construction | Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,478 | $ | 1,125 | $ | - | $ | 149 | $ | 630 | $ | 694 | $ | 138 | $ | 5,214 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (25 | ) | (297 | ) | - | - | - | (4 | ) | - | (326 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | - | 15 | 10 | - | - | - | - | 25 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | (263 | ) | 261 | 66 | (27 | ) | (76 | ) | - | 39 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,513 | $ | 4 | $ | - | $ | - | $ | - | $ | 3 | $ | - | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 677 | 1,100 | 76 | 122 | 554 | 687 | 177 | 3,393 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | - | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,827 | $ | 8,404 | $ | - | $ | - | $ | 4,978 | $ | 558 | $ | - | $ | 19,767 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 50,605 | $ | 247,152 | $ | 8,622 | $ | 11,725 | $ | 80,964 | $ | 44,971 | $ | - | $ | 444,039 | |||||||||||||||||||||||||||||||||||||||||
The following table sets forth activity in our allowance for loan losses, by loan type, for the nine months ended September 30, 2014. The following table also details the amount of loans receivable that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Commercial | Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Real Estate | Construction | to Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,285 | $ | 1,585 | $ | 260 | $ | 25 | $ | 795 | $ | 534 | $ | 197 | $ | 5,681 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (37 | ) | (297 | ) | (260 | ) | - | (195 | ) | (39 | ) | - | (828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Recoveries | 4 | 45 | 10 | - | - | 1 | - | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | (62 | ) | (229 | ) | 66 | 97 | (46 | ) | 194 | (20 | ) | - | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,513 | $ | 4 | $ | - | $ | - | $ | - | $ | 3 | $ | - | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 677 | 1,100 | 76 | 122 | 554 | 687 | 177 | 3,393 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | - | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,827 | $ | 8,404 | $ | - | $ | - | $ | 4,978 | $ | 558 | $ | - | $ | 19,767 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 50,605 | $ | 247,152 | $ | 8,622 | $ | 11,725 | $ | 80,964 | $ | 44,971 | $ | - | $ | 444,039 | |||||||||||||||||||||||||||||||||||||||||
The following table sets forth activity in our allowance for loan losses, by loan type, for the three months ended September 30, 2013. The following table also details the amount of loans receivable that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Commercial | Commercial | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Real Estate | to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,722 | $ | 1,953 | $ | 236 | $ | 24 | $ | 934 | $ | 244 | $ | 209 | $ | 5,322 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (14 | ) | - | (107 | ) | - | - | (2 | ) | - | (123 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 1 | 15 | - | - | - | 1 | - | 17 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 1,051 | (167 | ) | (13 | ) | 1 | 86 | (14 | ) | 56 | $ | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,200 | $ | 513 | $ | 116 | $ | - | $ | 326 | $ | 2 | $ | - | $ | 3,157 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 560 | 1,288 | - | 25 | 694 | 227 | 265 | 3,059 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 40,142 | $ | 223,459 | $ | 335 | $ | 10,296 | $ | 114,153 | $ | 47,687 | $ | - | $ | 436,072 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,109 | $ | 13,431 | $ | 335 | $ | 1,205 | $ | 8,782 | $ | 655 | $ | - | $ | 30,517 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 34,033 | $ | 210,028 | $ | - | $ | 9,091 | $ | 105,371 | $ | 47,032 | $ | - | $ | 405,555 | |||||||||||||||||||||||||||||||||||||||||
The following table sets forth activity in our allowance for loan losses, by loan type, for the nine months ended September 30, 2013. The following table also details the amount of loans receivable that are evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended | Commercial | Commercial | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Real Estate | to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 942 | $ | 3,509 | $ | 311 | $ | 19 | $ | 897 | $ | 217 | $ | 121 | $ | 6,016 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (15 | ) | (289 | ) | (130 | ) | - | (385 | ) | (21 | ) | - | (840 | ) | |||||||||||||||||||||||||||||||||||||||||||
Recoveries | 3 | 44 | 20 | - | 1 | 2 | - | 70 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 1,830 | (1,463 | ) | (85 | ) | 6 | 507 | 31 | 144 | 970 | |||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,200 | $ | 513 | $ | 116 | $ | - | $ | 326 | $ | 2 | $ | - | $ | 3,157 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 560 | 1,288 | - | 25 | 694 | 227 | 265 | 3,059 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 40,142 | $ | 223,459 | $ | 335 | $ | 10,296 | $ | 114,153 | $ | 47,687 | $ | - | $ | 436,072 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,109 | $ | 13,431 | $ | 335 | $ | 1,205 | $ | 8,782 | $ | 655 | $ | - | $ | 30,517 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 34,033 | $ | 210,028 | $ | - | $ | 9,091 | $ | 105,371 | $ | 47,032 | $ | - | $ | 405,555 | |||||||||||||||||||||||||||||||||||||||||
The following table details for the year ended December 31, 2013 the amount of loans receivable that were evaluated individually, and collectively, for impairment, and the related portion of the allowance for loan losses that was allocated to each loan portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Commercial | Real Estate | Construction | to Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 35,137 | $ | 222,772 | $ | 260 | $ | 11,372 | $ | 106,968 | $ | 47,320 | $ | - | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | 6,152 | 7,766 | 260 | 1,189 | 6,060 | 594 | - | 22,021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 28,985 | $ | 215,006 | $ | - | $ | 10,183 | $ | 100,908 | $ | 46,726 | $ | - | $ | 401,808 | |||||||||||||||||||||||||||||||||||||||||
The Company monitors the credit quality of its loans receivable in an ongoing manner. Credit quality is monitored by reviewing certain credit quality indicators, including loan to value ratios, debt service coverage ratios and credit scores. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Appraisals on properties securing non-performing loans and Other Real Estate Owned (“OREO”) are updated annually. We update our impairment analysis monthly based on the most recent appraisal as well as other factors (such as senior lien positions, property taxes, etc.). | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The majority of the Company’s impaired loans have been resolved through courses of action other than via bank liquidations of real estate collateral through OREO. These include normal loan payoffs, the traditional workout process, triggering personal guarantee obligations, and troubled debt restructurings. However, as loan workout efforts progress to a point where the bank’s liquidation of real estate collateral is the likely outcome, the impairment analysis is updated to reflect actual recent experience with bank sales of OREO properties. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
A disposition discount is built into our impairment analysis and reflected in our allowance once a property is determined to be a likely OREO (e.g. foreclosure is probable). To determine the discount we compare the average sales prices of our prior OREO properties to the appraised value that was obtained as of the date when we took title to the property. The difference is the bank-owned disposition discount. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company has a risk rating system as part of the risk assessment of its loan portfolio. The Company’s lending officers are required to assign an Obligor and a Facility risk rating to each loan in their portfolio at origination, which is ratified or modified by the Committee to which the loan is submitted for approval. When the lender learns of important financial developments, the risk rating is reviewed accordingly, and adjusted if necessary. Similarly, the Loan Committee can adjust a risk rating. The Company employs a loan officer whose responsibility is to independently review the ratings annually for all commercial credits over $250,000. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In addition, the Company engages a third party independent loan reviewer that performs quarterly reviews of a sample of loans, validating the Bank’s risk ratings assigned to such loans. The risk ratings play an important role in the establishment of the loan loss provision and to confirm the adequacy of the allowance for loan losses. Any upgrades to classified loans must be approved by the Management Loan Committee. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
When assigning a risk rating to a loan, management utilizes the Bank’s internal eleven-point risk rating system. An asset is considered “special mention” when it has a potential weakness based on objective evidence, but does not currently expose the Company to sufficient risk to warrant classification in one of the following categories: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
● | An asset is considered “substandard” if it is not adequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Substandard assets have well defined weaknesses based on objective evidence, and are characterized by the “distinct possibility” that the Company will sustain “some loss” if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
● | Assets classified as “doubtful” have all of the weaknesses inherent in those classified “substandard” with the added characteristic that the weaknesses present make “collection or liquidation in full,” on the basis of currently existing facts, conditions, and values, “highly questionable and improbable.” | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Charge–off generally commences after the loan is classified “doubtful” to reduce the loan to its recoverable balance. If the account is classified as “loss”, the full balance is charged off regardless of the potential recovery from the sale of the collateral. That amount is recognized as a recovery after the collateral is sold. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In accordance with FFIEC (“Federal Financial Institutions Examination Council”) published policies establishing uniform criteria for the classification of retail credit based on delinquency status, “Open-end” credits are charged-off when 180 days delinquent and “Closed-end” credits are charged-off when 120 days delinquent. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table details the credit risk exposure of loans receivable, by loan type and credit quality indicator at September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CREDIT RISK PROFILE BY CREDIT WORTHINESS CATEGORY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Estate | Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||
LTVs: | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 47,027 | $ | 3,296 | $ | 241,743 | $ | 6,614 | $ | 8,622 | $ | - | $ | 9,971 | $ | 1,754 | $ | 65,540 | $ | 18,489 | $ | 43,109 | $ | 1,738 | $ | 679 | $ | 448,582 | |||||||||||||||||||||||||||||
Special Mention | 128 | - | 2,721 | 2,005 | - | - | - | - | - | - | - | - | - | 4,854 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 5,981 | - | 2,331 | 142 | - | - | - | - | 1,533 | 380 | 3 | - | - | 10,370 | |||||||||||||||||||||||||||||||||||||||||||
$ | 53,136 | $ | 3,296 | $ | 246,795 | $ | 8,761 | $ | 8,622 | $ | - | $ | 9,971 | $ | 1,754 | $ | 67,073 | $ | 18,869 | $ | 43,112 | $ | 1,738 | $ | 679 | $ | 463,806 | ||||||||||||||||||||||||||||||
CREDIT RISK PROFILE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Real Estate | Consumer | Totals | |||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 50,604 | $ | 255,414 | $ | 8,622 | $ | 11,725 | $ | 84,029 | $ | 45,526 | $ | 455,920 | |||||||||||||||||||||||||||||||||||||||||||
Non Performing | 5,828 | 142 | - | - | 1,913 | 3 | 7,886 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||||
The following table details the credit risk exposure of loans receivable, by loan type and credit quality indicator at December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CREDIT RISK PROFILE BY CREDIT WORTHINESS CATEGORY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Estate | Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||
LTVs: | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 23,672 | $ | 3,868 | $ | 198,787 | $ | 7,940 | $ | - | $ | - | $ | 10,183 | $ | - | $ | 83,253 | $ | 20,778 | $ | 42,780 | $ | 3,849 | $ | 650 | $ | 395,760 | |||||||||||||||||||||||||||||
Special Mention | 170 | - | 6,551 | 2,496 | - | - | - | - | - | - | - | - | - | 9,217 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 7,427 | - | 3,684 | 3,314 | 60 | 200 | 1,189 | - | 1,980 | 957 | 10 | 31 | - | 18,852 | |||||||||||||||||||||||||||||||||||||||||||
$ | 31,269 | $ | 3,868 | $ | 209,022 | $ | 13,750 | $ | 60 | $ | 200 | $ | 11,372 | $ | - | $ | 85,233 | $ | 21,735 | $ | 42,790 | $ | 3,880 | $ | 650 | $ | 423,829 | ||||||||||||||||||||||||||||||
CREDIT RISK PROFILE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction | Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | to Permanent | Real Estate | Consumer | Totals | |||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 28,985 | $ | 221,007 | $ | - | $ | 10,183 | $ | 104,030 | $ | 47,287 | $ | 411,492 | |||||||||||||||||||||||||||||||||||||||||||
Non Performing | 6,152 | 1,765 | 260 | 1,189 | 2,938 | 33 | 12,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 35,137 | $ | 222,772 | $ | 260 | $ | 11,372 | $ | 106,968 | $ | 47,320 | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||||
Included in loans receivable are loans for which the accrual of interest income has been discontinued due to deterioration in the financial condition of the borrowers. The unpaid principal balances of loans on nonaccrual status and considered impaired were $7.9 million at September 30, 2014 and $12.3 million at December 31, 2013. If non-accrual loans had been performing in accordance with their contractual terms, the Company would have recorded approximately $17,000 of additional income during the quarter ended September 30, 2014 and $257,000 during the quarter ended September 30, 2013. If non-accrual loans had been performing in accordance with their contractual terms, the Company would have recorded approximately $52,000 of additional income for the nine months ended September 30, 2014 and $754,000 for the nine month ended September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the detail, and delinquency status, of non-accrual loans and past due loans at September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Accrual and Past Due Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Greater | Total Past | Current | >90 Days | Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Than 90 | Due | Past | Accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Days | Due and | and Past | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 942 | $ | 942 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | 4 | 15 | 19 | 5,809 | - | 5,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | - | $ | 4 | $ | 15 | $ | 19 | $ | 5,809 | $ | 942 | $ | 6,770 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 142 | $ | - | $ | 142 | |||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 142 | $ | - | $ | 142 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 1,913 | $ | 1,913 | $ | - | $ | - | $ | 1,913 | |||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 1,913 | $ | 1,913 | $ | - | $ | - | $ | 1,913 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | 3 | $ | - | $ | 3 | $ | - | $ | - | $ | 3 | |||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | - | $ | 3 | $ | - | $ | 3 | $ | - | $ | - | $ | 3 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | - | $ | 7 | $ | 1,928 | $ | 1,935 | $ | 5,951 | $ | 942 | $ | 8,828 | |||||||||||||||||||||||||||||||||||||||||||
Generally, loans are placed on non-accruing status when they become 90 days or more delinquent, and remain on non-accrual status until they are brought current, have at least six months of performance under the loan terms, and factors indicating reasonable doubt about the timely collection of payments no longer exist. Therefore, loans may be current in accordance with their loan terms, or may be less than 90 days delinquent and still be on a non-accruing status. Additionally, certain loans that cannot demonstrate sufficient global cash flow to continue loan payments in the future and certain troubled debt restructures (TDRs) are placed on non-accrual status. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2014, $6.0 million or 76% of the non-accruing loan balance of $7.9 million was current. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
There were 5 loans totaling $942,000 that were past due ninety days or more and still accruing interest at September 30, 2014. All were mature lines of credit awaiting renewal. There were two such loans at December 31, 2013, totaling $866,000. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the detail, and delinquency status, of non-accrual loans and past due loans at December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Accrual and Past Due Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | >90 Days | Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Greater | Past Due | Accrual and | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Than | Total Past | and | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | Current | Accruing | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 25 | $ | 25 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | 2 | 2 | 6,150 | - | 6,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | - | $ | - | $ | 2 | $ | 2 | $ | 6,150 | $ | 25 | $ | 6,177 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 1,765 | $ | 1,765 | $ | - | $ | 841 | $ | 2,606 | |||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | 1,765 | $ | 1,765 | $ | - | $ | 841 | $ | 2,606 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 260 | $ | 260 | $ | - | $ | - | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | 260 | $ | 260 | $ | - | $ | - | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 1,189 | $ | - | $ | 1,189 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 1,189 | $ | - | $ | 1,189 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2,553 | $ | 2,553 | $ | 385 | $ | - | $ | 2,938 | |||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 2,553 | $ | 2,553 | $ | 385 | $ | - | $ | 2,938 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2 | $ | 2 | $ | 31 | $ | - | $ | 33 | |||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | - | $ | - | $ | 2 | $ | 2 | $ | 31 | $ | - | $ | 33 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | - | $ | - | $ | 4,582 | $ | 4,582 | $ | 7,755 | $ | 866 | $ | 13,203 | |||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the detail and delinquency status of loans receivable, by performing and non-performing loans at September 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | Total Non- | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Accrual and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Total Past | Performing | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | Current | Loans | Loans | Total Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 93 | $ | - | $ | 93 | $ | 49,288 | $ | 49,381 | $ | 942 | $ | 50,323 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 128 | 128 | - | 128 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 153 | 153 | 5,828 | 5,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | 93 | $ | - | $ | 93 | $ | 49,569 | $ | 49,662 | $ | 6,770 | $ | 56,432 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 583 | $ | - | $ | 583 | $ | 247,774 | $ | 248,357 | $ | - | $ | 248,357 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | 1,050 | - | 1,050 | 3,676 | 4,726 | - | 4,726 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 2,331 | 2,331 | 142 | 2,473 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,633 | $ | - | $ | 1,633 | $ | 253,781 | $ | 255,414 | $ | 142 | $ | 255,556 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 8,622 | $ | 8,622 | $ | - | $ | 8,622 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | 8,622 | $ | 8,622 | $ | - | $ | 8,622 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 11,725 | $ | 11,725 | $ | - | $ | 11,725 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | 11,725 | $ | 11,725 | $ | - | $ | 11,725 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 502 | $ | - | $ | 502 | $ | 83,527 | $ | 84,029 | $ | - | $ | 84,029 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 1,913 | 1,913 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | 502 | $ | - | $ | 502 | $ | 83,527 | $ | 84,029 | $ | 1,913 | $ | 85,942 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 21 | $ | - | $ | 21 | $ | 45,505 | $ | 45,526 | $ | - | $ | 45,526 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | 21 | $ | - | $ | 21 | $ | 45,505 | $ | 45,526 | $ | 3 | $ | 45,529 | |||||||||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 1,199 | $ | - | $ | 1,199 | $ | 446,441 | $ | 447,640 | $ | 942 | $ | 448,582 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | 1,050 | - | 1,050 | 3,804 | 4,854 | - | 4,854 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 2,484 | 2,484 | 7,886 | 10,370 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand Total | $ | 2,249 | $ | - | $ | 2,249 | $ | 452,729 | $ | 454,978 | $ | 8,828 | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the detail and delinquency status of loans receivable, by performing and non-performing loans at December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Accrual and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-89 Days | Total Past | Total Loan | Past Due | Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | Current | Balances | Loans | Receivable | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 725 | $ | - | $ | 725 | $ | 26,790 | $ | 27,515 | $ | 25 | $ | 27,540 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 170 | 170 | - | 170 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 1,275 | 1,275 | 6,152 | 7,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | 725 | $ | - | $ | 725 | $ | 28,235 | $ | 28,960 | $ | 6,177 | $ | 35,137 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 1,845 | $ | 266 | $ | 2,111 | $ | 204,615 | $ | 206,726 | $ | - | $ | 206,726 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 9,047 | 9,047 | - | 9,047 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 4,394 | 4,394 | 2,605 | 6,999 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,845 | $ | 266 | $ | 2,111 | $ | 218,056 | $ | 220,167 | $ | 2,605 | $ | 222,772 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 10,183 | $ | 10,183 | $ | - | $ | 10,183 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 1,189 | 1,189 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | 10,183 | $ | 10,183 | $ | 1,189 | $ | 11,372 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 32 | $ | - | $ | 32 | $ | 103,998 | $ | 104,030 | $ | - | $ | 104,030 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 2,938 | 2,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | 32 | $ | - | $ | 32 | $ | 103,998 | $ | 104,030 | $ | 2,938 | $ | 106,968 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 350 | $ | 561 | $ | 911 | $ | 46,368 | $ | 47,279 | $ | - | $ | 47,279 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 7 | - | 7 | - | 7 | 34 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | 357 | $ | 561 | $ | 918 | $ | 46,368 | $ | 47,286 | $ | 34 | $ | 47,320 | |||||||||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 2,602 | $ | 266 | $ | 2,868 | $ | 345,586 | $ | 348,454 | $ | 25 | $ | 348,479 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 9,217 | 9,217 | - | 9,217 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 5,669 | 5,669 | 13,144 | 18,813 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand Total | $ | 2,959 | $ | 827 | $ | 3,786 | $ | 406,840 | $ | 410,626 | $ | 13,203 | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||||
Impaired loans consist of non-accrual loans, TDRs, and loans previously classified as TDRs that have been upgraded. The average recorded investment in impaired loans for the three and nine months ended September 30, 2014 was $21.5 million and $21.6 million respectively. For the three months ended September 30, 2014 and 2013, the interest collected and recognized as income on impaired loans, was approximately $204,000 and $124,000 respectively. For the nine months ended September 30, 2014 and 2013, the interest collected on impaired loans was approximately $589,000 and $344,000 respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The recorded investment of impaired loans at September 30, 2014 and December 31, 2013 was $19.8 million and $22.0 million, with related allowances of $1.5 million and $1.9 million, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes impaired loans as of September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Investment | Balance | Related Allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 4 | $ | 96 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 8,262 | 9,077 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 4,978 | 5,087 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 555 | 635 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 13,799 | $ | 15,627 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 5,823 | $ | 5,823 | $ | 1,513 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 142 | 186 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 5,968 | $ | 6,012 | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 5,827 | $ | 5,919 | $ | 1,513 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 8,404 | 9,263 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 4,978 | 5,087 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 558 | 638 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 19,767 | $ | 21,639 | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes impaired loans as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 151 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 7,596 | 8,316 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | 1,189 | 1,417 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 5,103 | 7,636 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 592 | 671 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 14,482 | $ | 18,191 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 6,150 | $ | 6,150 | $ | 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 170 | 214 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 260 | 732 | 260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 957 | 1,097 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2 | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 7,539 | $ | 8,195 | $ | 1,891 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 6,152 | $ | 6,301 | $ | 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 7,766 | 8,530 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 260 | 732 | 260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | 1,189 | 1,417 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 6,060 | 8,733 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 594 | 673 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 22,021 | $ | 26,386 | $ | 1,891 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Included in the tables above at September 30, 2014 and December 31, 2013 are loans with carrying balances of $13.8 million and $14.5 million that required no specific reserves in our allowance for loan losses. Loans that did not require specific reserves have sufficient collateral values, less costs to sell, supporting the carrying balances of the loans. In some cases, there may be no specific reserves because the Company already charged-off the specific impairment. Once a borrower is in default, the Company is under no obligation to advance additional funds on unused commitments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On a case-by-case basis, the Company may agree to modify the contractual terms of a borrower’s loan to assist customers who may be experiencing financial difficulty. If the borrower is experiencing financial difficulties and a concession has been made, the loan is classified as a troubled debt restructured loan. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2014, there were 2 loans totaling $2.1 million that were considered “TDRs”. Interest income was being accrued on both loans. At December 31, 2013 there were 2 loans totaling $2.2 million that were considered TDRs. One loan of $1.2 million was on non-accrual status. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the total troubled debt restructured loans as of September 30, 2014: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | # of | # of | # of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Amount | Loans | Amount | Loans | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | $ | 2,091 | - | $ | - | 2 | $ | 2,091 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 2 | $ | 2,091 | - | $ | - | 2 | $ | 2,091 | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the total troubled debt restructured loans as of December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | # of | # of | # of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Amount | Loans | Amount | Loans | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 1 | $ | 991 | - | $ | - | 1 | $ | 991 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | - | - | 1 | 1,197 | 1 | 1,197 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 1 | $ | 991 | 1 | $ | 1,197 | 2 | $ | 2,188 | ||||||||||||||||||||||||||||||||||||||||||||||||
No loans were modified in troubled debt restructurings during the three months ended September 30, 2014. The following table summarizes loans that were modified in troubled debt restructurings during the nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Number of | Outstanding Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Relationships | Investment | Relationships | Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | $ | 2,439 | 2 | $ | 2,430 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 2 | $ | 2,439 | 2 | $ | 2,430 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Substantially all troubled debt restructured loan modifications involve lowering the monthly payments on such loans through either a reduction in interest rate, an extension of the term of the loan, or a combination of these two methods. These modifications rarely result in the forgiveness of principal or accrued interest. In addition, we often obtain additional collateral or guarantor support when modifying commercial loans. If the borrower had demonstrated performance under the previous terms and our underwriting process shows the borrower has the capacity to continue to perform under the restructured terms, the loan will continue to accrue interest. Non-accruing restructured loans may be returned to accrual status when there has been a sustained period of repayment performance (at least six consecutive months of payments) and both principal and interest are deemed collectible. All troubled debt restructurings are impaired loans, which are individually evaluated for impairment. |
Note_4_Deposits
Note 4 - Deposits | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||
Note 4: Deposits | |||||||||
The following table is a summary of the Company’s deposits at: | |||||||||
September 30, | December 31, | ||||||||
(in thousands) | 2014 | 2013 | |||||||
Non-interest bearing | $ | 62,657 | $ | 55,358 | |||||
Interest bearing | |||||||||
NOW | 25,818 | 28,618 | |||||||
Savings | 85,831 | 80,983 | |||||||
Money market | 25,722 | 29,310 | |||||||
Time certificates, less than $100,000 | 120,127 | 129,548 | |||||||
Time certificates, $100,000 or more | 94,975 | 106,387 | |||||||
Brokered Deposits (CDARS) | 5,985 | - | |||||||
Total interest bearing | 358,458 | 374,846 | |||||||
Total Deposits | $ | 421,115 | $ | 430,204 | |||||
Note_5_ShareBased_Compensation
Note 5 - Share-Based Compensation | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
Note 5: Share-Based Compensation | |||||||||
The Company maintains the Patriot National Bancorp, Inc. 2012 Stock Plan to provide an incentive to directors and employees of the Company by the grant of options, restricted stock awards or phantom stock units. The Plan provides for the issuance of up to 3,000,000 shares of the Company’s common stock subject to certain Plan limitations. As of September 30, 2014, 2,202,100 shares of stock remain available for issuance under the Plan. The vesting of restricted stock awards and options may be accelerated in accordance with terms of the plan. The Compensation Committee shall determine the vesting of restricted stock awards and stock options. Restricted stock grants are available to directors and employees and vest in quarterly or annual installments over a three, four or five year period from the date of grant. The Compensation Committee accelerated the vesting of the initial grant of restricted stock for directors in 2012, whereby the first year of the tranche vested immediately. The Company is expensing the grant date fair value of all share-based compensation over the requisite vesting periods on a straight-line basis. | |||||||||
During the three months ended September 30, 2014 and September 30, 2013, the Company recorded $73,000 and $55,000 of total stock-based compensation, respectively. During the nine months ended September 30, 2014 and September 30, 2013, the Company recorded $203,000 and $71,000 of total stock-based compensation, respectively. During the nine months ended September 30, 2014, there were 385,652 shares granted under the 2012 Stock Plan. | |||||||||
The following is a summary of the status of the Company’s restricted shares as of September 30, 2014, and changes therein during the period then ended. | |||||||||
Number of | Weighted | ||||||||
Shares | Average Grant | ||||||||
Awarded | Date Fair Value | ||||||||
Non-vested at December 31, 2013 | 281,835 | $ | 1.26 | ||||||
Granted | 385,652 | 1.04 | |||||||
Vested | (13,313 | ) | 1.73 | ||||||
Non-vested at September 30, 2014 | 654,174 | $ | 1.12 | ||||||
Expected future stock award expense related to the non-vested restricted awards as of September 30, 2014, is $555,000 over an average period of 2.56 years. | |||||||||
The Company had no outstanding stock options at September 30, 2014. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
Note 6: Income Taxes | |
For the three month and year-to-date periods ended September 30, 2014, the bank recorded an income tax benefit of approximately $16.8 million. This compares to no income tax benefit or expense for the three month period ended September 30, 2013, and a $21,000 benefit last September 30, year to date. The year over year variance is due to the company’s release of $16.8 million of its deferred tax asset valuation allowance. | |
As measured under the rules of the Tax Reform Act of 1986, the Company had undergone a greater than 50% change of ownership in 2010. Consequently, use of the Company's net operating loss carry forward and certain built in deductions available against future taxable income in any one year are limited. The maximum amount of carry forwards available in a given year is limited to the product of the Company's fair market value on the date of ownership change and the federal long-term tax-exempt rate, plus any limited carry forward not utilized in prior years. | |
The Company analyzed the impact of its ownership change in 2010 and calculated the annual limitation under IRC 382 to be $284,000. Based on the analysis, the Company had determined that the pre-change net operating losses and net unrealized built-in deductions were approximately $36.2 million. Based on a 20 year carry forward period, the Company could utilize approximately $5.6 million of the pre-change net operating losses and built-in deductions. Therefore, the Company wrote-off approximately $10.4 million of deferred tax assets in 2011. Accordingly, the write-off of the deferred tax asset did not affect the consolidated financial statements as there was a full valuation allowance against the deferred tax asset. | |
Under US GAAP companies are required to assess whether a valuation allowance should be established against their deferred tax assets based on consideration of all available evidence using a “more likely than not” standard. The deferred tax position has been affected by several significant transactions in prior years. These transactions include provision for loan losses, the levels of non-accrual loans and other-than-temporary impairment write-offs of certain investments, as well as a loss on the bulk sale of loans in 2011. As a result, the Company had concluded that it was not more-likely-than-not that the Company would be able to realize its deferred tax assets and, accordingly, had established a full valuation allowance totaling $14.4 million against the deferred tax asset balance remaining after the IRC 382 write-down (see below). As part of our ongoing evaluation of the reliability of our deferred tax assets it was determined that $16.8 million of the valuation allowance was now more likely than not to be realized as future tax benefits. The release of the valuation allowance in the current quarter reflects the impacts of various factors, such as: a strong positive trend in financial performance over the last four quarters, forecasted 2015 and future period taxable income, significant improvements in the quality of the loan portfolio and favorable changes in operations which permanently reduce operating expenses. These factors provided sufficient evidence as to the reliability of the deferred tax assets. |
Note_7_Income_Loss_Per_Share
Note 7 - Income (Loss) Per Share | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
Note 7: Income (loss) per share | |||||||||||||
The Company is required to present basic income (loss) per share and diluted income (loss) per share in its consolidated statements of operations. Basic income (loss) per share amounts are computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted income (loss) per share reflects additional common shares that would have been outstanding if potentially dilutive common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and would be determined using the treasury stock method. The Company is also required to provide a reconciliation of the numerator and denominator used in the computation of both basic and diluted income (loss) per share. | |||||||||||||
Non-vested restricted stock awards did not have an impact on the diluted earnings per share. The Company had no outstanding stock options. The following is information about the computation of income (loss) per share for the three and nine months ended September 30, 2014 and 2013: | |||||||||||||
Three months ended September 30, 2014 | |||||||||||||
Weighted Average | |||||||||||||
Common Shares | |||||||||||||
Net Income | O/S | Amount | |||||||||||
Basic and Diluted Income Per Share | |||||||||||||
Income attributable to common shareholders | $ | 17,261,000 | 38,502,062 | $ | 0.45 | ||||||||
Three months ended September 30, 2013 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Loss | O/S | Amount | |||||||||||
Basic and Diluted Loss Per Share | |||||||||||||
Loss attributable to common shareholders | $ | (2,370,000 | ) | 38,409,683 | $ | (0.06 | ) | ||||||
Nine months ended September 30, 2014 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Income | O/S | Amount | |||||||||||
Basic and Diluted Income Per Share | |||||||||||||
Income attributable to common shareholders | $ | 18,105,000 | 38,497,625 | $ | 0.47 | ||||||||
Nine months ended September 30, 2013 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Loss | O/S | Amount | |||||||||||
Basic and Diluted Loss Per Share | |||||||||||||
Loss attributable to common shareholders | $ | (8,239,000 | ) | 38,426,431 | $ | (0.21 | ) | ||||||
Note_8_Other_Comprehensive_Inc
Note 8 - Other Comprehensive Income | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||||||||||||||||||
Note 8: Other Comprehensive Income | |||||||||||||||||||||||||
Other comprehensive income, which is comprised solely of the change in unrealized gains and losses on available-for-sale securities, is as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-14 | ||||||||||||||||||||||||
Before Tax | Net of Tax | Before Tax | Net of Tax | ||||||||||||||||||||||
( in thousands) | Amount | Tax Effect | Amount | Amount | Tax Effect | Amount | |||||||||||||||||||
Unrealized holding gains | $ | 51 | $ | - | $ | 51 | $ | 552 | $ | - | $ | 552 | |||||||||||||
arising during the period | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | ||||||||||||||||||||||||
Before Tax | Net of Tax | Before Tax | Net of Tax | ||||||||||||||||||||||
Amount | Tax Effect | Amount | Amount | Tax Effect | Amount | ||||||||||||||||||||
Unrealized holding (losses) | $ | (265 | ) | $ | - | $ | (265 | ) | $ | (839 | ) | $ | - | $ | (839 | ) | |||||||||
arising during the period | |||||||||||||||||||||||||
Note_9_Financial_Instruments_w
Note 9 - Financial Instruments with Off-Balance Sheet Risk | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Risks and Uncertainties [Abstract] | ' | ||||
Concentration Risk Disclosure [Text Block] | ' | ||||
Note 9: Financial Instruments with Off-Balance Sheet Risk | |||||
In the normal course of business, the Company is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the balance sheet. The contractual amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. | |||||
The contractual amount of commitments to extend credit and standby letters of credit represent the total amount of potential accounting loss should: the contracts be fully drawn upon; the customers default; and the value of any existing collateral becomes worthless. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments and evaluates each customer’s creditworthiness on a case-by-case basis. Management believes that the Company controls the credit risk of these financial instruments through credit approvals, credit limits, monitoring procedures and the receipt of collateral as deemed necessary. | |||||
Financial instruments whose contractual amounts represent credit risk at September 30, 2014 are as follows: | |||||
Commitments to extend credit: | (in thousands) | ||||
Future loan commitments | $ | 12,412 | |||
Home equity lines of credit | 25,277 | ||||
Unused lines of credit | 33,727 | ||||
Undisbursed construction loans | 8,381 | ||||
Financial standby letters of credit | 1,118 | ||||
$ | 80,915 | ||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments to extend credit generally have fixed expiration dates, or other termination clauses, and may require payment of a fee by the borrower. Since these commitments could expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include residential and commercial property, deposits and securities. The bank has established a reserve of $12,000 as of September 30, 2014 for these commitments. | |||||
Standby letters of credit are written commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Guarantees that are not derivative contracts are recorded on the Company’s consolidated balance sheet at their fair value at inception. |
Note_10_Regulatory_and_Operati
Note 10 - Regulatory and Operational Matters | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||||||
Note 10: Regulatory and Operational Matters | |||||||||||||||||||||||||
On September 29, 2014, Patriot National Bancorp, Inc. was notified by the Office of the Comptroller of the Currency (the "OCC") that the formal agreement between Patriot National Bank (the "Bank") and the OCC, dated February 9, 2009, had been terminated. This action was taken because the OCC no longer considers the Bank to be in "troubled condition". The decision to terminate the formal agreement was due to, among other things, the satisfactory ratings of the Bank's asset quality, liquidity, management and regulatory capital position following the Bank’s successful control recapitalization and turnaround plan. | |||||||||||||||||||||||||
The Company’s and the Bank’s actual capital amounts and ratios at September 30, 2014 and December 31, 2013 were: | |||||||||||||||||||||||||
To Be Well | |||||||||||||||||||||||||
Capitalized Under | |||||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||||
Actual | Adequacy Purposes | Action Provisions | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 62,689 | 13.84 | % | $ | 36,234 | 8 | % | N/A | N/A | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,777 | 12.76 | % | 18,117 | 4 | % | N/A | N/A | |||||||||||||||||
Tier 1 Capital (to Average Assets) | 57,777 | 10.6 | % | 21,808 | 4 | % | N/A | N/A | |||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 62,582 | 13.83 | % | $ | 36,208 | 8 | % | $ | 54,312 | 12 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,669 | 12.74 | % | 18,104 | 4 | % | 47,523 | 10.5 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 57,669 | 10.58 | % | 21,794 | 4 | % | 49,037 | 9 | % | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 56,060 | 13.95 | % | $ | 32,153 | 8 | % | N/A | N/A | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 51,027 | 12.7 | % | 16,076 | 4 | % | N/A | N/A | |||||||||||||||||
Tier 1 Capital (to Average Assets) | 51,027 | 9.33 | % | 21,888 | 4 | % | N/A | N/A | |||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 55,758 | 13.86 | % | $ | 32,187 | 8 | % | $ | 48,280 | 12 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 50,730 | 12.61 | % | 16,093 | 4 | % | 42,245 | 10.5 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 50,730 | 9.28 | % | 21,872 | 4 | % | 49,212 | 9 | % | ||||||||||||||||
Note_11_Fair_Value_and_Interes
Note 11 - Fair Value and Interest Rate Risk | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||||
Note 11: Fair Value and Interest Rate Risk | ||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. A fair value hierarchy has been established that prioritizes the inputs used to measure fair value, requiring entities to maximize the use of observable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs generally require significant management judgment. | ||||||||||||||||||
The three levels within the fair value hierarchy are as follows: | ||||||||||||||||||
● | Level 1- Unadjusted quoted market prices for identical assets or liabilities in active markets that the entity has the ability to access at the measurement date (such as active exchange-traded equity securities and certain U.S. and government agency debt securities). | |||||||||||||||||
● | Level 2- Observable inputs other than quoted prices included in Level 1, such as: | |||||||||||||||||
■ | quoted prices for similar assets or liabilities in active markets (such as U.S. agency and government sponsored mortgage-backed securities) | |||||||||||||||||
■ | quoted prices for identical or similar assets or liabilities in less active markets (such as certain U.S. and government agency debt securities, and corporate and municipal debt securities that trade infrequently) | |||||||||||||||||
■ | Other inputs that are observable for substantially the full term of the asset or liability (i.e. interest rates, yield curves, prepayment speeds, default rates, etc.) | |||||||||||||||||
● | Level 3- Valuation techniques that require unobservable inputs that are supported by little or no market activity and are significant to the fair value measurement of the asset or liability (such as pricing and discounted cash flow models that typically reflect management’s estimates of the assumptions a market participant would use in pricing the asset or liability). | |||||||||||||||||
A description of the valuation methodologies used for assets and liabilities recorded at fair value, and for estimating fair value for financial and non-financial instruments not recorded at fair value, is set forth below. | ||||||||||||||||||
Cash and due from banks, federal funds sold, short-term investments and accrued interest receivable and payable: The carrying amount is a reasonable estimate of fair value and accordingly these are classified as Level 1. These financial instruments are not recorded at fair value on a recurring basis. | ||||||||||||||||||
Available-for-Sale Securities: These financial instruments are recorded at fair value on a recurring basis in the financial statements. The prices for these instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Management reviews the data and assumptions used in pricing the securities by its third party provider to ensure the highest level of significant inputs are derived from market observable data. | ||||||||||||||||||
Other Investments: The Bank’s investment portfolio includes the Solomon Hess SBA Loan Fund totaling $4.5 million. This investment is utilized for the purposes of the Bank satisfying its CRA lending requirements. As this fund operates as a private fund, shares in the Fund are not publicly traded and therefore have no readily determinable market value. An investment in the Fund is reported in the financial statements at cost, as adjusted for income, losses, and cash distributions attributable to the investment. | ||||||||||||||||||
Loans: For variable rate loans, which reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the portfolios. The fair value of fixed rate loans is estimated by discounting the future cash flows using the period end rates, estimated by using local market data, at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. As estimates are dependent on management’s observations, loans are classified as Level 3. The Company does not record loans at fair value on a recurring basis. However, from time to time, nonrecurring fair value adjustments to collateral-dependent impaired loans are recorded to reflect partial write-downs based on the observable market price or current appraised value of collateral. Fair values estimated in this manner do not fully incorporate an exit-price approach to fair value, but instead are based on a comparison to current market rates for comparable loans. | ||||||||||||||||||
Other Real Estate Owned: The fair value of OREO properties the Company may obtain is based on the estimated current property valuations less estimated selling costs. When the fair value is based on current observable appraised values, OREO is classified within Level 2. The Company classifies the OREO within Level 3 when unobservable adjustments are made to appraised values. The Company does not record other real estate owned at fair value on a recurring basis. | ||||||||||||||||||
Deposits: The fair value of demand deposits, regular savings and certain money market deposits is the amount payable on demand at the reporting date. The fair value of certificates of deposit and other time deposits is estimated using a discounted cash flow calculation that applies interest rates currently being offered for deposits of similar remaining maturities, estimated using local market data, to a schedule of aggregated expected maturities on such deposits. The Company does not record deposits at fair value on a recurring basis. | ||||||||||||||||||
Junior Subordinated Debt: Junior subordinated debt reprices quarterly and as a result the carrying amount is considered a reasonable estimate of fair value. The Company does not record junior subordinated debt at fair value on a recurring basis. | ||||||||||||||||||
Federal Home Loan Bank Borrowings: The fair value of the advances is estimated using a discounted cash flow calculation that applies current Federal Home Loan Bank interest rates for advances of similar maturity to a schedule of maturities of such advances. The Company does not record these borrowings at fair value on a recurring basis. | ||||||||||||||||||
Off-balance sheet instruments: Fair values for the Company’s off-balance-sheet instruments (lending commitments) are based on interest rate changes and fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The Company does not record its off-balance-sheet instruments at fair value on a recurring basis. | ||||||||||||||||||
The following table details the financial assets measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine fair value: | ||||||||||||||||||
(in thousands) | ||||||||||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
30-Sep-14 | (Level 1) | (Level 2) | (Level 3) | 30-Sep-14 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 18,307 | $ | - | $ | 18,307 | ||||||||||
U.S. Government agency bonds | - | 7,314 | - | 7,314 | ||||||||||||||
Corporate bonds | - | 8,950 | - | 8,950 | ||||||||||||||
Securities available for sale | $ | - | $ | 34,571 | $ | - | $ | 34,571 | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Dec-13 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-13 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 21,752 | $ | - | $ | 21,752 | ||||||||||
U.S. Government agency bonds | - | 7,079 | - | 7,079 | ||||||||||||||
Corporate bonds | - | 8,870 | - | 8,870 | ||||||||||||||
- | - | |||||||||||||||||
Securities available for sale | $ | - | $ | 37,701 | $ | - | $ | 37,701 | ||||||||||
There were no transfers of assets between levels 1, 2 or 3 as of September 30, 2014 or December 31, 2013. Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). | ||||||||||||||||||
The following reflects financial assets measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized: | ||||||||||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
(in thousands) | Active Markets | Observable | Unobservable | |||||||||||||||
for Identical Assets | Inputs | Inputs | Balance | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
30-Sep-14 | ||||||||||||||||||
Non-accrual loans | $ | - | $ | - | $ | 6,366 | $ | 6,366 | ||||||||||
31-Dec-13 | ||||||||||||||||||
Non-accrual loans | $ | - | $ | - | $ | 11,312 | $ | 11,312 | ||||||||||
The Company discloses fair value information about financial instruments, whether or not recognized in the consolidated balance sheet, for which it is practicable to estimate that value. Certain financial instruments are excluded from disclosure requirements and, accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. | ||||||||||||||||||
The estimated fair value amounts have been measured as of September 30, 2014 and December 31, 2013 and have not been reevaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair value of these financial instruments subsequent to the respective reporting dates may be different than amounts reported on those dates. | ||||||||||||||||||
The information presented should not be interpreted as an estimate of the fair value of the Company since a fair value calculation is only required for a limited portion of the Company’s assets and liabilities. Due to the wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other bank holding companies may not be meaningful. | ||||||||||||||||||
The following is a summary of the carrying amounts and estimated fair values of the Company’s financial instruments not measured and not reported at fair value on the consolidated balance sheets at September 30, 2014 and December 31, 2013: | ||||||||||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||||||||
(in thousands) | Fair Value | Carrying | Estimated | Carrying | Estimated | |||||||||||||
Hierarchy | Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Financial Assets: | ||||||||||||||||||
Cash and noninterest bearing balances due from banks | Level 1 | $ | 1,530 | $ | 1,530 | $ | 1,570 | $ | 1,570 | |||||||||
Interest-bearing deposits due from banks | Level 1 | 56,060 | 56,060 | 33,295 | 33,295 | |||||||||||||
Other investments | Level 2 | 4,450 | 4,450 | 4,450 | 4,450 | |||||||||||||
Federal Reserve Bank stock | Level 2 | 1,541 | 1,541 | 1,444 | 1,444 | |||||||||||||
Federal Home Loan Bank stock | Level 2 | 6,428 | 6,428 | 4,143 | 4,143 | |||||||||||||
Loans receivable, net | Level 3 | 458,893 | 463,161 | 418,148 | 424,831 | |||||||||||||
Accrued interest receivable | Level 1 | 1,649 | 1,649 | 1,566 | 1,566 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Demand deposits | Level 1 | $ | 62,657 | $ | 62,657 | $ | 55,358 | $ | 55,358 | |||||||||
Savings deposits | Level 1 | 85,831 | 85,831 | 80,983 | 80,983 | |||||||||||||
Money market deposits | Level 1 | 25,722 | 25,722 | 29,310 | 29,310 | |||||||||||||
NOW accounts | Level 1 | 25,818 | 25,818 | 28,618 | 28,618 | |||||||||||||
Time deposits | Level 2 | 221,087 | 221,256 | 235,935 | 236,602 | |||||||||||||
FHLB Borrowings | Level 2 | 132,000 | 132,000 | 57,000 | 57,000 | |||||||||||||
Subordinated debentures | Level 2 | 2,191 | 2,191 | 8,248 | 8,248 | |||||||||||||
Accrued interest payable | Level 1 | 92 | 92 | 1,388 | 1,388 | |||||||||||||
The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Company’s overall interest rate risk. | ||||||||||||||||||
Off-balance sheet instruments | ||||||||||||||||||
Loan commitments on which the committed interest rate is less than the current market rate were insignificant at September 30, 2014 and December 31, 2013. The estimated fair value of fee income on letters of credit at September 30, 2014 and December 31, 2013 was also insignificant. |
Note_12_Restructuring_Charges_
Note 12 - Restructuring Charges and Asset Disposals | 9 Months Ended |
Sep. 30, 2014 | |
Restructuring and Related Activities [Abstract] | ' |
Restructuring and Related Activities Disclosure [Text Block] | ' |
Note 12: Restructuring Charges and Asset Disposals | |
The Company recorded no restructuring charges for the nine months ended September 30, 2014, compared to $448,000 in the same period as last year. These costs are included in restructuring charges and asset disposals in the Consolidated Statements of Operations. The $448,000 of restructuring charges for the nine months ended September 30, 2013 consisted of workforce reduction related charges of $569,000 partially offset by $121,000 reduction in existing restructuring reserves related to lease liability costs. | |
On May 29, 2013, the Company purchased a branch location where the cost of the lease exceeded the cost to own. Purchase of this branch resulted in a reduction of $121,000 in future lease liability costs which had been included as part of a restructuring initiative in 2011. | |
On June 13, 2013, the Company executed a workforce reduction of the residential lending group and retail operations to further reduce operating expenses. There were nineteen employees in total affected by this announcement. Restructuring charges for this initiative resulted in $515,000 in severance expenses. During July 2013, there was an additional workforce reduction, resulting in restructuring charges of $54,000 in severance expenses. | |
There were no remaining restructuring reserves at September 30, 2014. |
Note_13_Recent_Accounting_Pron
Note 13 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
Note 13: Recent Accounting Pronouncements | |
Recently Adopted Accounting Standards Updates | |
ASU No. 2013-11 - Income Taxes (Topic 740) - "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry forward ,a Similar Tax Loss, or a Tax Credit Carry forward Exists (a consensus of the FASB Emerging Issues Task Force)."– The ASU requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward, as applicable. To the extent a net operating loss carry forward, a similar tax loss, or a tax credit carry forward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. This update was adopted effective January 1, 2014 and will be applied prospectively; however, its netting provisions are consistent with the Company’s previous presentation, as applicable, and as a result did not require additional disclosures | |
Recently Issued Accounting Standards Updates | |
ASU 2014-14, “Receivables - Troubled Debt Restructuring by Creditors (Subtopic 310-40)” – Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure which will require creditors to derecognize certain foreclosed government-guaranteed mortgage loans and to recognize a separate other receivable that is measured at the amount the creditor expects to recover from the guarantor, and to treat the guarantee and the receivable as a single unit of account. ASU 2014-14 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. For entities other than public business entities, the ASU is effective for annual periods ending after December 15, 2015, and interim periods beginning after December 15, 2015. An entity can elect a prospective or a modified retrospective transition method, but must use the same transition method that it elected under FASB ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. Early adoption, including adoption in an interim period, is permitted if the entity already adopted ASU 2014-04. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-12, Compensation-Stock Compensation (Topic 718) “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).”– The ASU provides explicit guidance to account for a performance target that could be achieved after the requisite service period as a performance condition. For awards within the scope of this Update, the Task Force decided that an entity should apply existing guidance in Topic 718 as it relates to share-based payments with performance conditions that affect vesting. Consistent with that guidance, performance conditions that affect vesting should not be reflected in estimating the fair value of an award at the grant date. Compensation cost should be recognized when it is probable that the performance target will be achieved and should represent the compensation cost attributable to the period for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The amendments are effective for annual and interim periods beginning after January 1, 2016. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” – which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
ASU No. 2014-04, “Receivables – Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure,” was issued to clarify that when an in substance repossession or foreclosure occurs, a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 is effective for annual reporting periods beginning after December 15, 2014. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects (Topic 323)“- allows an entity that invests in low income housing projects and meets all the specified conditions to use the proportional amortization method to account for the costs of those investments. The effective date is for annual periods and interim periods within those annual periods beginning after December 15, 2014. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Adopted Accounting Standards Updates | |
ASU No. 2013-11 - Income Taxes (Topic 740) - "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry forward ,a Similar Tax Loss, or a Tax Credit Carry forward Exists (a consensus of the FASB Emerging Issues Task Force)."– The ASU requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carry forward, a similar tax loss, or a tax credit carry forward, as applicable. To the extent a net operating loss carry forward, a similar tax loss, or a tax credit carry forward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit shall be presented in the financial statements as a liability and shall not be combined with deferred tax assets. This update was adopted effective January 1, 2014 and will be applied prospectively; however, its netting provisions are consistent with the Company’s previous presentation, as applicable, and as a result did not require additional disclosures | |
Recently Issued Accounting Standards Updates | |
ASU 2014-14, “Receivables - Troubled Debt Restructuring by Creditors (Subtopic 310-40)” – Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure which will require creditors to derecognize certain foreclosed government-guaranteed mortgage loans and to recognize a separate other receivable that is measured at the amount the creditor expects to recover from the guarantor, and to treat the guarantee and the receivable as a single unit of account. ASU 2014-14 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. For entities other than public business entities, the ASU is effective for annual periods ending after December 15, 2015, and interim periods beginning after December 15, 2015. An entity can elect a prospective or a modified retrospective transition method, but must use the same transition method that it elected under FASB ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. Early adoption, including adoption in an interim period, is permitted if the entity already adopted ASU 2014-04. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-12, Compensation-Stock Compensation (Topic 718) “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).”– The ASU provides explicit guidance to account for a performance target that could be achieved after the requisite service period as a performance condition. For awards within the scope of this Update, the Task Force decided that an entity should apply existing guidance in Topic 718 as it relates to share-based payments with performance conditions that affect vesting. Consistent with that guidance, performance conditions that affect vesting should not be reflected in estimating the fair value of an award at the grant date. Compensation cost should be recognized when it is probable that the performance target will be achieved and should represent the compensation cost attributable to the period for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The amendments are effective for annual and interim periods beginning after January 1, 2016. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” – which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
ASU No. 2014-04, “Receivables – Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure,” was issued to clarify that when an in substance repossession or foreclosure occurs, a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 is effective for annual reporting periods beginning after December 15, 2014. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. | |
ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects (Topic 323)“- allows an entity that invests in low income housing projects and meets all the specified conditions to use the proportional amortization method to account for the costs of those investments. The effective date is for annual periods and interim periods within those annual periods beginning after December 15, 2014. The Company does not expect the application of this guidance to have a material impact on the Company's consolidated financial statements. |
Note_2_Investment_Securities_T
Note 2 - Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||
(in thousands) | Amortized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Losses | Value | |||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (186 | ) | $ | 7,314 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 18,706 | (399 | ) | 18,307 | |||||||||||||||||||||
Corporate bonds | 9,000 | (50 | ) | 8,950 | |||||||||||||||||||||
$ | 35,206 | $ | (635 | ) | $ | 34,571 | |||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (421 | ) | $ | 7,079 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 22,388 | (636 | ) | 21,752 | |||||||||||||||||||||
Corporate bonds | 9,000 | (130 | ) | 8,870 | |||||||||||||||||||||
$ | 38,888 | $ | (1,187 | ) | $ | 37,701 | |||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | - | $ | - | $ | 7,314 | $ | (186 | ) | $ | 7,314 | $ | (186 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | - | - | 18,307 | (399 | ) | 18,307 | (399 | ) | |||||||||||||||||
Corporate bonds | - | - | 8,950 | (50 | ) | 8,950 | (50 | ) | |||||||||||||||||
Totals | $ | - | $ | - | $ | 34,571 | $ | (635 | ) | $ | 34,571 | $ | (635 | ) | |||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,079 | $ | (421 | ) | $ | - | $ | - | $ | 7,079 | $ | (421 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | 8,871 | (291 | ) | 12,881 | (345 | ) | 21,752 | (636 | ) | ||||||||||||||||
Corporate bonds | - | - | 8,870 | (130 | ) | 8,870 | (130 | ) | |||||||||||||||||
Totals | $ | 15,950 | $ | (712 | ) | $ | 21,751 | $ | (475 | ) | $ | 37,701 | $ | (1,187 | ) | ||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
Maturity: | |||||||||||||||||||||||||
Corporate bonds 5 to 10 years | $ | 9,000 | $ | 8,950 | |||||||||||||||||||||
U.S. Government agency bonds < 5 years | 2,500 | 2,484 | |||||||||||||||||||||||
U.S. Government agency bonds 5 to 10 years | 5,000 | 4,830 | |||||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 18,706 | 18,307 | |||||||||||||||||||||||
Total | $ | 35,206 | $ | 34,571 |
Note_3_Loans_Receivable_and_Al1
Note 3 - Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 3 - Loans Receivable and Allowance for Loan Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 255,556 | $ | 222,772 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 85,942 | 106,968 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 8,622 | 260 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to permanent | 11,725 | 11,372 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 56,432 | 35,137 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer home equity | 41,228 | 44,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer installment | 4,301 | 3,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Loans | 463,806 | 423,829 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (4,913 | ) | (5,681 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | $ | 458,893 | $ | 418,148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Allowance for Loan Losses [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 5,214 | $ | 5,322 | $ | 5,681 | $ | 6,016 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision for loan losses | - | 1,000 | - | 970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged-off | (326 | ) | (123 | ) | (828 | ) | (840 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries of loans previously charged-off | 25 | 17 | 60 | 70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, end of period | $ | 4,913 | $ | 6,216 | $ | 4,913 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended | Commercial | Construction to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Real Estate | Construction | Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,478 | $ | 1,125 | $ | - | $ | 149 | $ | 630 | $ | 694 | $ | 138 | $ | 5,214 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (25 | ) | (297 | ) | - | - | - | (4 | ) | - | (326 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | - | 15 | 10 | - | - | - | - | 25 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | (263 | ) | 261 | 66 | (27 | ) | (76 | ) | - | 39 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,513 | $ | 4 | $ | - | $ | - | $ | - | $ | 3 | $ | - | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 677 | 1,100 | 76 | 122 | 554 | 687 | 177 | 3,393 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | - | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,827 | $ | 8,404 | $ | - | $ | - | $ | 4,978 | $ | 558 | $ | - | $ | 19,767 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 50,605 | $ | 247,152 | $ | 8,622 | $ | 11,725 | $ | 80,964 | $ | 44,971 | $ | - | $ | 444,039 | |||||||||||||||||||||||||||||||||||||||||
Nine months ended | Commercial | Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Commercial | Real Estate | Construction | to Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,285 | $ | 1,585 | $ | 260 | $ | 25 | $ | 795 | $ | 534 | $ | 197 | $ | 5,681 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (37 | ) | (297 | ) | (260 | ) | - | (195 | ) | (39 | ) | - | (828 | ) | |||||||||||||||||||||||||||||||||||||||||||
Recoveries | 4 | 45 | 10 | - | - | 1 | - | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | (62 | ) | (229 | ) | 66 | 97 | (46 | ) | 194 | (20 | ) | - | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,513 | $ | 4 | $ | - | $ | - | $ | - | $ | 3 | $ | - | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 677 | 1,100 | 76 | 122 | 554 | 687 | 177 | 3,393 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,190 | $ | 1,104 | $ | 76 | $ | 122 | $ | 554 | $ | 690 | $ | 177 | $ | 4,913 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | - | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,827 | $ | 8,404 | $ | - | $ | - | $ | 4,978 | $ | 558 | $ | - | $ | 19,767 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 50,605 | $ | 247,152 | $ | 8,622 | $ | 11,725 | $ | 80,964 | $ | 44,971 | $ | - | $ | 444,039 | |||||||||||||||||||||||||||||||||||||||||
Three months ended | Commercial | Commercial | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Real Estate | to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,722 | $ | 1,953 | $ | 236 | $ | 24 | $ | 934 | $ | 244 | $ | 209 | $ | 5,322 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (14 | ) | - | (107 | ) | - | - | (2 | ) | - | (123 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 1 | 15 | - | - | - | 1 | - | 17 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 1,051 | (167 | ) | (13 | ) | 1 | 86 | (14 | ) | 56 | $ | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,200 | $ | 513 | $ | 116 | $ | - | $ | 326 | $ | 2 | $ | - | $ | 3,157 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 560 | 1,288 | - | 25 | 694 | 227 | 265 | 3,059 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 40,142 | $ | 223,459 | $ | 335 | $ | 10,296 | $ | 114,153 | $ | 47,687 | $ | - | $ | 436,072 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,109 | $ | 13,431 | $ | 335 | $ | 1,205 | $ | 8,782 | $ | 655 | $ | - | $ | 30,517 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 34,033 | $ | 210,028 | $ | - | $ | 9,091 | $ | 105,371 | $ | 47,032 | $ | - | $ | 405,555 | |||||||||||||||||||||||||||||||||||||||||
Nine months ended | Commercial | Commercial | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Real Estate | to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance | $ | 942 | $ | 3,509 | $ | 311 | $ | 19 | $ | 897 | $ | 217 | $ | 121 | $ | 6,016 | |||||||||||||||||||||||||||||||||||||||||
Charge-offs | (15 | ) | (289 | ) | (130 | ) | - | (385 | ) | (21 | ) | - | (840 | ) | |||||||||||||||||||||||||||||||||||||||||||
Recoveries | 3 | 44 | 20 | - | 1 | 2 | - | 70 | |||||||||||||||||||||||||||||||||||||||||||||||||
Provision | 1,830 | (1,463 | ) | (85 | ) | 6 | 507 | 31 | 144 | 970 | |||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,200 | $ | 513 | $ | 116 | $ | - | $ | 326 | $ | 2 | $ | - | $ | 3,157 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | 560 | 1,288 | - | 25 | 694 | 227 | 265 | 3,059 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,760 | $ | 1,801 | $ | 116 | $ | 25 | $ | 1,020 | $ | 229 | $ | 265 | $ | 6,216 | |||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 40,142 | $ | 223,459 | $ | 335 | $ | 10,296 | $ | 114,153 | $ | 47,687 | $ | - | $ | 436,072 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,109 | $ | 13,431 | $ | 335 | $ | 1,205 | $ | 8,782 | $ | 655 | $ | - | $ | 30,517 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 34,033 | $ | 210,028 | $ | - | $ | 9,091 | $ | 105,371 | $ | 47,032 | $ | - | $ | 405,555 | |||||||||||||||||||||||||||||||||||||||||
Commercial | Construction | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Commercial | Real Estate | Construction | to Permanent | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 35,137 | $ | 222,772 | $ | 260 | $ | 11,372 | $ | 106,968 | $ | 47,320 | $ | - | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | 6,152 | 7,766 | 260 | 1,189 | 6,060 | 594 | - | 22,021 | |||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 28,985 | $ | 215,006 | $ | - | $ | 10,183 | $ | 100,908 | $ | 46,726 | $ | - | $ | 401,808 | |||||||||||||||||||||||||||||||||||||||||
Ceded Credit Risk [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Real Estate | Consumer | Totals | |||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 50,604 | $ | 255,414 | $ | 8,622 | $ | 11,725 | $ | 84,029 | $ | 45,526 | $ | 455,920 | |||||||||||||||||||||||||||||||||||||||||||
Non Performing | 5,828 | 142 | - | - | 1,913 | 3 | 7,886 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 56,432 | $ | 255,556 | $ | 8,622 | $ | 11,725 | $ | 85,942 | $ | 45,529 | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction | Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | to Permanent | Real Estate | Consumer | Totals | |||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | 28,985 | $ | 221,007 | $ | - | $ | 10,183 | $ | 104,030 | $ | 47,287 | $ | 411,492 | |||||||||||||||||||||||||||||||||||||||||||
Non Performing | 6,152 | 1,765 | 260 | 1,189 | 2,938 | 33 | 12,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 35,137 | $ | 222,772 | $ | 260 | $ | 11,372 | $ | 106,968 | $ | 47,320 | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Accrual and Past Due Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Greater | Total Past | Current | >90 Days | Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Than 90 | Due | Past | Accrual | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Days | Due and | and Past | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing | Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 942 | $ | 942 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | 4 | 15 | 19 | 5,809 | - | 5,828 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | - | $ | 4 | $ | 15 | $ | 19 | $ | 5,809 | $ | 942 | $ | 6,770 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 142 | $ | - | $ | 142 | |||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 142 | $ | - | $ | 142 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 1,913 | $ | 1,913 | $ | - | $ | - | $ | 1,913 | |||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 1,913 | $ | 1,913 | $ | - | $ | - | $ | 1,913 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | 3 | $ | - | $ | 3 | $ | - | $ | - | $ | 3 | |||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | - | $ | 3 | $ | - | $ | 3 | $ | - | $ | - | $ | 3 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | - | $ | 7 | $ | 1,928 | $ | 1,935 | $ | 5,951 | $ | 942 | $ | 8,828 | |||||||||||||||||||||||||||||||||||||||||||
Non-Accrual and Past Due Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | >90 Days | Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Greater | Past Due | Accrual and | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Than | Total Past | and | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | Current | Accruing | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 25 | $ | 25 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | 2 | 2 | 6,150 | - | 6,152 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | - | $ | - | $ | 2 | $ | 2 | $ | 6,150 | $ | 25 | $ | 6,177 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 1,765 | $ | 1,765 | $ | - | $ | 841 | $ | 2,606 | |||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | 1,765 | $ | 1,765 | $ | - | $ | 841 | $ | 2,606 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 260 | $ | 260 | $ | - | $ | - | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | 260 | $ | 260 | $ | - | $ | - | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 1,189 | $ | - | $ | 1,189 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 1,189 | $ | - | $ | 1,189 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2,553 | $ | 2,553 | $ | 385 | $ | - | $ | 2,938 | |||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 2,553 | $ | 2,553 | $ | 385 | $ | - | $ | 2,938 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2 | $ | 2 | $ | 31 | $ | - | $ | 33 | |||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | - | $ | - | $ | 2 | $ | 2 | $ | 31 | $ | - | $ | 33 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | - | $ | - | $ | 4,582 | $ | 4,582 | $ | 7,755 | $ | 866 | $ | 13,203 | |||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables Performing and Non-Accrual Status [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | Total Non- | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Accrual and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-90 Days | Total Past | Performing | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | Current | Loans | Loans | Total Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 93 | $ | - | $ | 93 | $ | 49,288 | $ | 49,381 | $ | 942 | $ | 50,323 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 128 | 128 | - | 128 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 153 | 153 | 5,828 | 5,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | 93 | $ | - | $ | 93 | $ | 49,569 | $ | 49,662 | $ | 6,770 | $ | 56,432 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 583 | $ | - | $ | 583 | $ | 247,774 | $ | 248,357 | $ | - | $ | 248,357 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | 1,050 | - | 1,050 | 3,676 | 4,726 | - | 4,726 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 2,331 | 2,331 | 142 | 2,473 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,633 | $ | - | $ | 1,633 | $ | 253,781 | $ | 255,414 | $ | 142 | $ | 255,556 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 8,622 | $ | 8,622 | $ | - | $ | 8,622 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | 8,622 | $ | 8,622 | $ | - | $ | 8,622 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 11,725 | $ | 11,725 | $ | - | $ | 11,725 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | 11,725 | $ | 11,725 | $ | - | $ | 11,725 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 502 | $ | - | $ | 502 | $ | 83,527 | $ | 84,029 | $ | - | $ | 84,029 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 1,913 | 1,913 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | 502 | $ | - | $ | 502 | $ | 83,527 | $ | 84,029 | $ | 1,913 | $ | 85,942 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 21 | $ | - | $ | 21 | $ | 45,505 | $ | 45,526 | $ | - | $ | 45,526 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | 21 | $ | - | $ | 21 | $ | 45,505 | $ | 45,526 | $ | 3 | $ | 45,529 | |||||||||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 1,199 | $ | - | $ | 1,199 | $ | 446,441 | $ | 447,640 | $ | 942 | $ | 448,582 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | 1,050 | - | 1,050 | 3,804 | 4,854 | - | 4,854 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 2,484 | 2,484 | 7,886 | 10,370 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand Total | $ | 2,249 | $ | - | $ | 2,249 | $ | 452,729 | $ | 454,978 | $ | 8,828 | $ | 463,806 | |||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Non- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | Accrual and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-60 Days | 61-89 Days | Total Past | Total Loan | Past Due | Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | Current | Balances | Loans | Receivable | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 725 | $ | - | $ | 725 | $ | 26,790 | $ | 27,515 | $ | 25 | $ | 27,540 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 170 | 170 | - | 170 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 1,275 | 1,275 | 6,152 | 7,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial | $ | 725 | $ | - | $ | 725 | $ | 28,235 | $ | 28,960 | $ | 6,177 | $ | 35,137 | |||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 1,845 | $ | 266 | $ | 2,111 | $ | 204,615 | $ | 206,726 | $ | - | $ | 206,726 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 9,047 | 9,047 | - | 9,047 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 4,394 | 4,394 | 2,605 | 6,999 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,845 | $ | 266 | $ | 2,111 | $ | 218,056 | $ | 220,167 | $ | 2,605 | $ | 222,772 | |||||||||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 260 | $ | 260 | |||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | 10,183 | $ | 10,183 | $ | - | $ | 10,183 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 1,189 | 1,189 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | 10,183 | $ | 10,183 | $ | 1,189 | $ | 11,372 | |||||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 32 | $ | - | $ | 32 | $ | 103,998 | $ | 104,030 | $ | - | $ | 104,030 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | - | - | 2,938 | 2,938 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Real Estate | $ | 32 | $ | - | $ | 32 | $ | 103,998 | $ | 104,030 | $ | 2,938 | $ | 106,968 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 350 | $ | 561 | $ | 911 | $ | 46,368 | $ | 47,279 | $ | - | $ | 47,279 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 7 | - | 7 | - | 7 | 34 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | 357 | $ | 561 | $ | 918 | $ | 46,368 | $ | 47,286 | $ | 34 | $ | 47,320 | |||||||||||||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 2,602 | $ | 266 | $ | 2,868 | $ | 345,586 | $ | 348,454 | $ | 25 | $ | 348,479 | |||||||||||||||||||||||||||||||||||||||||||
Special Mention | - | - | - | 9,217 | 9,217 | - | 9,217 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | - | - | - | 5,669 | 5,669 | 13,144 | 18,813 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand Total | $ | 2,959 | $ | 827 | $ | 3,786 | $ | 406,840 | $ | 410,626 | $ | 13,203 | $ | 423,829 | |||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Investment | Balance | Related Allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 4 | $ | 96 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 8,262 | 9,077 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 4,978 | 5,087 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 555 | 635 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 13,799 | $ | 15,627 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 5,823 | $ | 5,823 | $ | 1,513 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 142 | 186 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 5,968 | $ | 6,012 | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 5,827 | $ | 5,919 | $ | 1,513 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 8,404 | 9,263 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 4,978 | 5,087 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 558 | 638 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 19,767 | $ | 21,639 | $ | 1,520 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 151 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 7,596 | 8,316 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | 1,189 | 1,417 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 5,103 | 7,636 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 592 | 671 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 14,482 | $ | 18,191 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 6,150 | $ | 6,150 | $ | 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 170 | 214 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 260 | 732 | 260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 957 | 1,097 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2 | 2 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 7,539 | $ | 8,195 | $ | 1,891 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | $ | 6,152 | $ | 6,301 | $ | 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 7,766 | 8,530 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 260 | 732 | 260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | 1,189 | 1,417 | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 6,060 | 8,733 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 594 | 673 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total: | $ | 22,021 | $ | 26,386 | $ | 1,891 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | # of | # of | # of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Amount | Loans | Amount | Loans | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | $ | 2,091 | - | $ | - | 2 | $ | 2,091 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 2 | $ | 2,091 | - | $ | - | 2 | $ | 2,091 | ||||||||||||||||||||||||||||||||||||||||||||||||
Accrual | Non-accrual | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | # of | # of | # of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Amount | Loans | Amount | Loans | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 1 | $ | 991 | - | $ | - | 1 | $ | 991 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction to Permanent | - | - | 1 | 1,197 | 1 | 1,197 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 1 | $ | 991 | 1 | $ | 1,197 | 2 | $ | 2,188 | ||||||||||||||||||||||||||||||||||||||||||||||||
Modified Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Outstanding Recorded | Number of | Outstanding Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Relationships | Investment | Relationships | Investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | $ | 2,439 | 2 | $ | 2,430 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total Troubled Debt Restructurings | 2 | $ | 2,439 | 2 | $ | 2,430 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Worthiness [Member] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 3 - Loans Receivable and Allowance for Loan Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ceded Credit Risk [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Estate | Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||
LTVs: | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 47,027 | $ | 3,296 | $ | 241,743 | $ | 6,614 | $ | 8,622 | $ | - | $ | 9,971 | $ | 1,754 | $ | 65,540 | $ | 18,489 | $ | 43,109 | $ | 1,738 | $ | 679 | $ | 448,582 | |||||||||||||||||||||||||||||
Special Mention | 128 | - | 2,721 | 2,005 | - | - | - | - | - | - | - | - | - | 4,854 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 5,981 | - | 2,331 | 142 | - | - | - | - | 1,533 | 380 | 3 | - | - | 10,370 | |||||||||||||||||||||||||||||||||||||||||||
$ | 53,136 | $ | 3,296 | $ | 246,795 | $ | 8,761 | $ | 8,622 | $ | - | $ | 9,971 | $ | 1,754 | $ | 67,073 | $ | 18,869 | $ | 43,112 | $ | 1,738 | $ | 679 | $ | 463,806 | ||||||||||||||||||||||||||||||
Commercial Real | Construction to | Residential Real | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Estate | Construction | Permanent | Estate | Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||||
LTVs: | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | < 75% | >=5% | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Internal Risk Rating | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 23,672 | $ | 3,868 | $ | 198,787 | $ | 7,940 | $ | - | $ | - | $ | 10,183 | $ | - | $ | 83,253 | $ | 20,778 | $ | 42,780 | $ | 3,849 | $ | 650 | $ | 395,760 | |||||||||||||||||||||||||||||
Special Mention | 170 | - | 6,551 | 2,496 | - | - | - | - | - | - | - | - | - | 9,217 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 7,427 | - | 3,684 | 3,314 | 60 | 200 | 1,189 | - | 1,980 | 957 | 10 | 31 | - | 18,852 | |||||||||||||||||||||||||||||||||||||||||||
$ | 31,269 | $ | 3,868 | $ | 209,022 | $ | 13,750 | $ | 60 | $ | 200 | $ | 11,372 | $ | - | $ | 85,233 | $ | 21,735 | $ | 42,790 | $ | 3,880 | $ | 650 | $ | 423,829 |
Note_4_Deposits_Tables
Note 4 - Deposits (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Deposits [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
(in thousands) | 2014 | 2013 | |||||||
Non-interest bearing | $ | 62,657 | $ | 55,358 | |||||
Interest bearing | |||||||||
NOW | 25,818 | 28,618 | |||||||
Savings | 85,831 | 80,983 | |||||||
Money market | 25,722 | 29,310 | |||||||
Time certificates, less than $100,000 | 120,127 | 129,548 | |||||||
Time certificates, $100,000 or more | 94,975 | 106,387 | |||||||
Brokered Deposits (CDARS) | 5,985 | - | |||||||
Total interest bearing | 358,458 | 374,846 | |||||||
Total Deposits | $ | 421,115 | $ | 430,204 |
Note_5_ShareBased_Compensation1
Note 5 - Share-Based Compensation (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||
Number of | Weighted | ||||||||
Shares | Average Grant | ||||||||
Awarded | Date Fair Value | ||||||||
Non-vested at December 31, 2013 | 281,835 | $ | 1.26 | ||||||
Granted | 385,652 | 1.04 | |||||||
Vested | (13,313 | ) | 1.73 | ||||||
Non-vested at September 30, 2014 | 654,174 | $ | 1.12 |
Note_7_Income_Loss_Per_Share_T
Note 7 - Income (Loss) Per Share (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||
Three months ended September 30, 2014 | |||||||||||||
Weighted Average | |||||||||||||
Common Shares | |||||||||||||
Net Income | O/S | Amount | |||||||||||
Basic and Diluted Income Per Share | |||||||||||||
Income attributable to common shareholders | $ | 17,261,000 | 38,502,062 | $ | 0.45 | ||||||||
Three months ended September 30, 2013 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Loss | O/S | Amount | |||||||||||
Basic and Diluted Loss Per Share | |||||||||||||
Loss attributable to common shareholders | $ | (2,370,000 | ) | 38,409,683 | $ | (0.06 | ) | ||||||
Nine months ended September 30, 2014 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Income | O/S | Amount | |||||||||||
Basic and Diluted Income Per Share | |||||||||||||
Income attributable to common shareholders | $ | 18,105,000 | 38,497,625 | $ | 0.47 | ||||||||
Nine months ended September 30, 2013 | Weighted Average | ||||||||||||
Common Shares | |||||||||||||
Net Loss | O/S | Amount | |||||||||||
Basic and Diluted Loss Per Share | |||||||||||||
Loss attributable to common shareholders | $ | (8,239,000 | ) | 38,426,431 | $ | (0.21 | ) |
Note_8_Other_Comprehensive_Inc1
Note 8 - Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Other Comprehensive Income Change in Unrealized Gains and Losses on Available for Sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-14 | ||||||||||||||||||||||||
Before Tax | Net of Tax | Before Tax | Net of Tax | ||||||||||||||||||||||
( in thousands) | Amount | Tax Effect | Amount | Amount | Tax Effect | Amount | |||||||||||||||||||
Unrealized holding gains | $ | 51 | $ | - | $ | 51 | $ | 552 | $ | - | $ | 552 | |||||||||||||
arising during the period | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | ||||||||||||||||||||||||
Before Tax | Net of Tax | Before Tax | Net of Tax | ||||||||||||||||||||||
Amount | Tax Effect | Amount | Amount | Tax Effect | Amount | ||||||||||||||||||||
Unrealized holding (losses) | $ | (265 | ) | $ | - | $ | (265 | ) | $ | (839 | ) | $ | - | $ | (839 | ) | |||||||||
arising during the period | |||||||||||||||||||||||||
Note_9_Financial_Instruments_w1
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Tables) | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Risks and Uncertainties [Abstract] | ' | ||||
Schedule of Commitment to Extended Credit [Table Text Block] | ' | ||||
Commitments to extend credit: | (in thousands) | ||||
Future loan commitments | $ | 12,412 | |||
Home equity lines of credit | 25,277 | ||||
Unused lines of credit | 33,727 | ||||
Undisbursed construction loans | 8,381 | ||||
Financial standby letters of credit | 1,118 | ||||
$ | 80,915 |
Note_10_Regulatory_and_Operati1
Note 10 - Regulatory and Operational Matters (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||||||
To Be Well | |||||||||||||||||||||||||
Capitalized Under | |||||||||||||||||||||||||
For Capital | Prompt Corrective | ||||||||||||||||||||||||
Actual | Adequacy Purposes | Action Provisions | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 62,689 | 13.84 | % | $ | 36,234 | 8 | % | N/A | N/A | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,777 | 12.76 | % | 18,117 | 4 | % | N/A | N/A | |||||||||||||||||
Tier 1 Capital (to Average Assets) | 57,777 | 10.6 | % | 21,808 | 4 | % | N/A | N/A | |||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 62,582 | 13.83 | % | $ | 36,208 | 8 | % | $ | 54,312 | 12 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,669 | 12.74 | % | 18,104 | 4 | % | 47,523 | 10.5 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 57,669 | 10.58 | % | 21,794 | 4 | % | 49,037 | 9 | % | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 56,060 | 13.95 | % | $ | 32,153 | 8 | % | N/A | N/A | |||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 51,027 | 12.7 | % | 16,076 | 4 | % | N/A | N/A | |||||||||||||||||
Tier 1 Capital (to Average Assets) | 51,027 | 9.33 | % | 21,888 | 4 | % | N/A | N/A | |||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Total Capital (to Risk Weighted Assets) | $ | 55,758 | 13.86 | % | $ | 32,187 | 8 | % | $ | 48,280 | 12 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 50,730 | 12.61 | % | 16,093 | 4 | % | 42,245 | 10.5 | % | ||||||||||||||||
Tier 1 Capital (to Average Assets) | 50,730 | 9.28 | % | 21,872 | 4 | % | 49,212 | 9 | % |
Note_11_Fair_Value_and_Interes1
Note 11 - Fair Value and Interest Rate Risk (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||
(in thousands) | ||||||||||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
30-Sep-14 | (Level 1) | (Level 2) | (Level 3) | 30-Sep-14 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 18,307 | $ | - | $ | 18,307 | ||||||||||
U.S. Government agency bonds | - | 7,314 | - | 7,314 | ||||||||||||||
Corporate bonds | - | 8,950 | - | 8,950 | ||||||||||||||
Securities available for sale | $ | - | $ | 34,571 | $ | - | $ | 34,571 | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Dec-13 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-13 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 21,752 | $ | - | $ | 21,752 | ||||||||||
U.S. Government agency bonds | - | 7,079 | - | 7,079 | ||||||||||||||
Corporate bonds | - | 8,870 | - | 8,870 | ||||||||||||||
- | - | |||||||||||||||||
Securities available for sale | $ | - | $ | 37,701 | $ | - | $ | 37,701 | ||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | |||||||||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
(in thousands) | Active Markets | Observable | Unobservable | |||||||||||||||
for Identical Assets | Inputs | Inputs | Balance | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
30-Sep-14 | ||||||||||||||||||
Non-accrual loans | $ | - | $ | - | $ | 6,366 | $ | 6,366 | ||||||||||
31-Dec-13 | ||||||||||||||||||
Non-accrual loans | $ | - | $ | - | $ | 11,312 | $ | 11,312 | ||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||||||||
(in thousands) | Fair Value | Carrying | Estimated | Carrying | Estimated | |||||||||||||
Hierarchy | Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Financial Assets: | ||||||||||||||||||
Cash and noninterest bearing balances due from banks | Level 1 | $ | 1,530 | $ | 1,530 | $ | 1,570 | $ | 1,570 | |||||||||
Interest-bearing deposits due from banks | Level 1 | 56,060 | 56,060 | 33,295 | 33,295 | |||||||||||||
Other investments | Level 2 | 4,450 | 4,450 | 4,450 | 4,450 | |||||||||||||
Federal Reserve Bank stock | Level 2 | 1,541 | 1,541 | 1,444 | 1,444 | |||||||||||||
Federal Home Loan Bank stock | Level 2 | 6,428 | 6,428 | 4,143 | 4,143 | |||||||||||||
Loans receivable, net | Level 3 | 458,893 | 463,161 | 418,148 | 424,831 | |||||||||||||
Accrued interest receivable | Level 1 | 1,649 | 1,649 | 1,566 | 1,566 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Demand deposits | Level 1 | $ | 62,657 | $ | 62,657 | $ | 55,358 | $ | 55,358 | |||||||||
Savings deposits | Level 1 | 85,831 | 85,831 | 80,983 | 80,983 | |||||||||||||
Money market deposits | Level 1 | 25,722 | 25,722 | 29,310 | 29,310 | |||||||||||||
NOW accounts | Level 1 | 25,818 | 25,818 | 28,618 | 28,618 | |||||||||||||
Time deposits | Level 2 | 221,087 | 221,256 | 235,935 | 236,602 | |||||||||||||
FHLB Borrowings | Level 2 | 132,000 | 132,000 | 57,000 | 57,000 | |||||||||||||
Subordinated debentures | Level 2 | 2,191 | 2,191 | 8,248 | 8,248 | |||||||||||||
Accrued interest payable | Level 1 | 92 | 92 | 1,388 | 1,388 |
Note_2_Investment_Securities_D
Note 2 - Investment Securities (Details) | Sep. 30, 2014 | Dec. 31, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 11 | 11 |
Unrealized Holding Losses Depreciation Percentage from Amortized Cost | 1.80% | 3.20% |
Note_2_Investment_Securities_D1
Note 2 - Investment Securities (Details) - Investment Securities (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-forsale securities, amortized cost | $35,206 | $38,888 |
Available-forsale securities, fair value | 34,571 | 37,701 |
Available-forsale securities, gross unrealized losses | -635 | -1,187 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-forsale securities, amortized cost | 7,500 | 7,500 |
Available-forsale securities, fair value | 7,314 | 7,079 |
Available-forsale securities, gross unrealized losses | -186 | -421 |
US Government Agencies Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-forsale securities, amortized cost | 18,706 | 22,388 |
Available-forsale securities, fair value | 18,307 | 21,752 |
Available-forsale securities, gross unrealized losses | -399 | -636 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-forsale securities, amortized cost | 9,000 | 9,000 |
Available-forsale securities, fair value | 8,950 | 8,870 |
Available-forsale securities, gross unrealized losses | ($50) | ($130) |
Note_2_Investment_Securities_D2
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position [Line Items] | ' | ' |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | ' | $15,950 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | ' | -712 |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 34,571 | 21,751 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -635 | -475 |
Available-for-sale securities in continuous loss position, fair value | 34,571 | 37,701 |
Available-for-sale securities in continuous loss position, unrealized loss | -635 | -1,187 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position [Line Items] | ' | ' |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | ' | 7,079 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | ' | -421 |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 7,314 | ' |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -186 | ' |
Available-for-sale securities in continuous loss position, fair value | 7,314 | 7,079 |
Available-for-sale securities in continuous loss position, unrealized loss | -186 | -421 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position [Line Items] | ' | ' |
Available-for-sale securities in continuous loss position, less than 12 months, fair value | ' | 8,871 |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | ' | -291 |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 18,307 | 12,881 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -399 | -345 |
Available-for-sale securities in continuous loss position, fair value | 18,307 | 21,752 |
Available-for-sale securities in continuous loss position, unrealized loss | -399 | -636 |
Corporate Debt Securities [Member] | ' | ' |
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position [Line Items] | ' | ' |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 8,950 | 8,870 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -50 | -130 |
Available-for-sale securities in continuous loss position, fair value | 8,950 | 8,870 |
Available-for-sale securities in continuous loss position, unrealized loss | ($50) | ($130) |
Note_2_Investment_Securities_D3
Note 2 - Investment Securities (Details) - Investment Debt Securities by Contractual Maturity (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Maturity: | ' |
Total | $35,206 |
Total | 34,571 |
Corporate Debt Securities [Member] | ' |
Maturity: | ' |
Bonds 5 to 10 years, amortized cost | 9,000 |
Bonds 5 to 10 years, fair value | 8,950 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' |
Maturity: | ' |
Bonds 5 to 10 years, amortized cost | 5,000 |
Bonds 5 to 10 years, fair value | 4,830 |
U.S. Government agency bonds 5 years | 2,500 |
U.S. Government agency bonds 5 years | 2,484 |
US Government Agencies Debt Securities [Member] | ' |
Maturity: | ' |
U.S. Government agency mortgage-backed securities | 18,706 |
U.S. Government agency mortgage-backed securities | $18,307 |
Note_3_Loans_Receivable_and_Al2
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Non-Accrual Loans [Member] | Non-Accrual and Past Due Loans [Member] | Non-Accrual and Past Due Loans [Member] | Non-Accrual and Past Due Loans [Member] | Non-Accrual and Past Due Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Multi-family Real Estate [Member] | Construction Loans [Member] | No Related Allowance Recorded [Member] | No Related Allowance Recorded [Member] | Past Due 90 Days or More and Still Accruing Interest [Member] | Past Due 90 Days or More and Still Accruing Interest [Member] | ||||||||
Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||||||||||||||||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Percentage of Credit Extension Based on Market Value of Collateral | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | 80.00% | ' | ' | ' | ' | ' |
Percentage of Maximum Loan to Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' |
Maximum Period of Credit Extension of Construction Loans | ' | ' | ' | ' | '18 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for Charged Off of Open-End Credits | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for Charged Off of Close-End Credits | ' | ' | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded Balance of Non-Accrual Loans | ' | ' | $7,900,000 | ' | $7,900,000 | ' | $12,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | ' | ' | 17,000 | 257,000 | 52,000 | 754,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Period for Charged Off of Consumer Installment Loans | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance Period Under Loan Terms | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Current | ' | ' | ' | ' | ' | ' | ' | ' | 142,000 | ' | 5,951,000 | 7,755,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of Non-Accruing Loan Balance | ' | ' | 76.00% | ' | 76.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Accruing Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 2 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | ' | ' | 942,000 | ' | 942,000 | ' | 866,000 | ' | ' | 841,000 | 942,000 | 866,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | ' | 21,500,000 | ' | 21,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Cash Basis Method | ' | ' | 204,000 | 124,000 | 589,000 | 344,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | ' | 19,767,000 | ' | 19,767,000 | ' | 22,021,000 | ' | ' | ' | ' | ' | 8,404,000 | 7,766,000 | ' | ' | 13,800,000 | 14,500,000 | ' | ' |
Impaired Financing Receivable, Related Allowance | ' | ' | 1,520,000 | ' | 1,520,000 | ' | 1,891,000 | ' | ' | ' | ' | ' | 4,000 | 31,000 | ' | ' | ' | ' | ' | ' |
Financing Receivable Modifications Number of Contracts During Period | 2 | 2 | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | ' | ' | $2,091,000 | ' | $2,091,000 | ' | $2,188,000 | $1,197,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_3_Loans_Receivable_and_Al3
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Companybs Loan Portfolio (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | $463,806 | ' | $423,829 | $436,072 | ' | ' |
Allowance for loan losses | -4,913 | -5,214 | -5,681 | -6,216 | -5,322 | -6,016 |
Loans receivable, net | 458,893 | ' | 418,148 | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 255,556 | ' | 222,772 | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 85,942 | ' | 106,968 | ' | ' | ' |
Real Estate Construction [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 8,622 | ' | 260 | ' | ' | ' |
Real Estate Construction to Permanent [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 11,725 | ' | 11,372 | ' | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 56,432 | ' | 35,137 | ' | ' | ' |
Home Equity Line of Credit [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | 41,228 | ' | 44,315 | ' | ' | ' |
Consumer Installment [Member] | ' | ' | ' | ' | ' | ' |
Real Estate | ' | ' | ' | ' | ' | ' |
Loans | $4,301 | ' | $3,005 | ' | ' | ' |
Note_3_Loans_Receivable_and_Al4
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Changes in the Allowance for Loan Losses (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Changes in the Allowance for Loan Losses [Abstract] | ' | ' | ' | ' |
Balance | $5,214 | $5,322 | $5,681 | $6,016 |
Provision for loan losses | ' | 1,000 | ' | 970 |
Loans charged-off | -326 | -123 | -828 | -840 |
Recoveries of loans previously charged-off | 25 | 17 | 60 | 70 |
Balance | $4,913 | $6,216 | $4,913 | $6,216 |
Note_3_Loans_Receivable_and_Al5
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Allowance for Loan Losses to Loan Portfolio Segment (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | $5,214 | $5,322 | $5,681 | $6,016 | ' |
Balance | 4,913 | 6,216 | 4,913 | 6,216 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 1,520 | 3,157 | 1,520 | 3,157 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 3,393 | 3,059 | 3,393 | 3,059 | ' |
Total Allowance for Loan Losses | 4,913 | 6,216 | 4,913 | 6,216 | ' |
Total Loans ending balance | 463,806 | 436,072 | 463,806 | 436,072 | 423,829 |
Loans Ending balance: individually evaluated for impairment | 19,767 | 30,517 | 19,767 | 30,517 | 22,021 |
Loans Ending balance: collectively evaluated for impairment | 444,039 | 405,555 | 444,039 | 405,555 | 401,808 |
Charge-offs | -326 | -123 | -828 | -840 | ' |
Recoveries | 25 | 17 | 60 | 70 | ' |
Provision | ' | 1,000 | ' | 970 | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 2,478 | 1,722 | 2,285 | 942 | ' |
Balance | 2,190 | 2,760 | 2,190 | 2,760 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 1,513 | 2,200 | 1,513 | 2,200 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 677 | 560 | 677 | 560 | ' |
Total Allowance for Loan Losses | 2,190 | 2,760 | 2,190 | 2,760 | ' |
Total Loans ending balance | 56,432 | 40,142 | 56,432 | 40,142 | 35,137 |
Loans Ending balance: individually evaluated for impairment | 5,827 | 6,109 | 5,827 | 6,109 | 6,152 |
Loans Ending balance: collectively evaluated for impairment | 50,605 | 34,033 | 50,605 | 34,033 | 28,985 |
Charge-offs | -25 | -14 | -37 | -15 | ' |
Recoveries | ' | 1 | 4 | 3 | ' |
Provision | -263 | 1,051 | -62 | 1,830 | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 1,125 | 1,953 | 1,585 | 3,509 | ' |
Balance | 1,104 | 1,801 | 1,104 | 1,801 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 4 | 513 | 4 | 513 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 1,100 | 1,288 | 1,100 | 1,288 | ' |
Total Allowance for Loan Losses | 1,104 | 1,801 | 1,104 | 1,801 | ' |
Total Loans ending balance | 255,556 | 223,459 | 255,556 | 223,459 | 222,772 |
Loans Ending balance: individually evaluated for impairment | 8,404 | 13,431 | 8,404 | 13,431 | 7,766 |
Loans Ending balance: collectively evaluated for impairment | 247,152 | 210,028 | 247,152 | 210,028 | 215,006 |
Charge-offs | -297 | ' | -297 | -289 | ' |
Recoveries | 15 | 15 | 45 | 44 | ' |
Provision | 261 | -167 | -229 | -1,463 | ' |
Real Estate Construction [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | ' | 236 | 260 | 311 | ' |
Balance | 76 | 116 | 76 | 116 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | ' | 116 | ' | 116 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 76 | ' | 76 | ' | ' |
Total Allowance for Loan Losses | 76 | 116 | 76 | 116 | ' |
Total Loans ending balance | 8,622 | 335 | 8,622 | 335 | 260 |
Loans Ending balance: individually evaluated for impairment | ' | 335 | ' | 335 | 260 |
Loans Ending balance: collectively evaluated for impairment | 8,622 | ' | 8,622 | ' | ' |
Charge-offs | ' | -107 | -260 | -130 | ' |
Recoveries | 10 | ' | 10 | 20 | ' |
Provision | 66 | -13 | 66 | -85 | ' |
Real Estate Construction to Permanent [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 149 | 24 | 25 | 19 | ' |
Balance | 122 | 25 | 122 | 25 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 122 | 25 | 122 | 25 | ' |
Total Allowance for Loan Losses | 122 | 25 | 122 | 25 | ' |
Total Loans ending balance | 11,725 | 10,296 | 11,725 | 10,296 | 11,372 |
Loans Ending balance: individually evaluated for impairment | ' | 1,205 | ' | 1,205 | 1,189 |
Loans Ending balance: collectively evaluated for impairment | 11,725 | 9,091 | 11,725 | 9,091 | 10,183 |
Provision | -27 | 1 | 97 | 6 | ' |
Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 630 | 934 | 795 | 897 | ' |
Balance | 554 | 1,020 | 554 | 1,020 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | ' | 326 | ' | 326 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 554 | 694 | 554 | 694 | ' |
Total Allowance for Loan Losses | 554 | 1,020 | 554 | 1,020 | ' |
Total Loans ending balance | 85,942 | 114,153 | 85,942 | 114,153 | 106,968 |
Loans Ending balance: individually evaluated for impairment | 4,978 | 8,782 | 4,978 | 8,782 | 6,060 |
Loans Ending balance: collectively evaluated for impairment | 80,964 | 105,371 | 80,964 | 105,371 | 100,908 |
Charge-offs | ' | ' | -195 | -385 | ' |
Recoveries | ' | ' | ' | 1 | ' |
Provision | -76 | 86 | -46 | 507 | ' |
Consumer Installment [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 694 | 244 | 534 | 217 | ' |
Balance | 690 | 229 | 690 | 229 | ' |
Allowance for Loan Losses Ending balance: individually evaluated for impairment | 3 | 2 | 3 | 2 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 687 | 227 | 687 | 227 | ' |
Total Allowance for Loan Losses | 690 | 229 | 690 | 229 | ' |
Total Loans ending balance | 45,529 | 47,687 | 45,529 | 47,687 | 47,320 |
Loans Ending balance: individually evaluated for impairment | 558 | 655 | 558 | 655 | 594 |
Loans Ending balance: collectively evaluated for impairment | 44,971 | 47,032 | 44,971 | 47,032 | 46,726 |
Charge-offs | -4 | -2 | -39 | -21 | ' |
Recoveries | ' | 1 | 1 | 2 | ' |
Provision | ' | -14 | 194 | 31 | ' |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Balance | 138 | 209 | 197 | 121 | ' |
Balance | 177 | 265 | 177 | 265 | ' |
Allowance for Loan Losses Ending balance: collectively evaluated for impairment | 177 | 265 | 177 | 265 | ' |
Total Allowance for Loan Losses | 177 | 265 | 177 | 265 | ' |
Provision | $39 | $56 | ($20) | $144 | ' |
Note_3_Loans_Receivable_and_Al6
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Credit Risk Exposure of Loans Receivable, by Loan Type and Credit Quality Indicator (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Internal Risk Rating | ' | ' | ' |
Loans recievable | $463,806 | $423,829 | $436,072 |
Commercial Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 47,027 | 23,672 | ' |
Commercial Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 3,296 | 3,868 | ' |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 128 | 170 | ' |
Commercial Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 5,981 | 7,427 | ' |
Commercial Portfolio Segment [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 53,136 | 31,269 | ' |
Commercial Portfolio Segment [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 3,296 | 3,868 | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 56,432 | 35,137 | 40,142 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 241,743 | 198,787 | ' |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 6,614 | 7,940 | ' |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 2,721 | 6,551 | ' |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 2,005 | 2,496 | ' |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 2,331 | 3,684 | ' |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 142 | 3,314 | ' |
Commercial Real Estate Portfolio Segment [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 246,795 | 209,022 | ' |
Commercial Real Estate Portfolio Segment [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 8,761 | 13,750 | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 255,556 | 222,772 | 223,459 |
Real Estate Construction [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 8,622 | ' | ' |
Real Estate Construction [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | ' | 60 | ' |
Real Estate Construction [Member] | Substandard [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | ' | 200 | ' |
Real Estate Construction [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 8,622 | 60 | ' |
Real Estate Construction [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | ' | 200 | ' |
Real Estate Construction [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 8,622 | 260 | 335 |
Real Estate Construction to Permanent [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 9,971 | 10,183 | ' |
Real Estate Construction to Permanent [Member] | Pass [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 1,754 | ' | ' |
Real Estate Construction to Permanent [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | ' | 1,189 | ' |
Real Estate Construction to Permanent [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 9,971 | 11,372 | ' |
Real Estate Construction to Permanent [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 1,754 | ' | ' |
Real Estate Construction to Permanent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 11,725 | 11,372 | 10,296 |
Residential Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 65,540 | 83,253 | ' |
Residential Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 18,489 | 20,778 | ' |
Residential Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 1,533 | 1,980 | ' |
Residential Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 380 | 957 | ' |
Residential Portfolio Segment [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 67,073 | 85,233 | ' |
Residential Portfolio Segment [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 18,869 | 21,735 | ' |
Residential Portfolio Segment [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 85,942 | 106,968 | 114,153 |
Consumer Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 43,109 | 42,780 | ' |
Consumer Portfolio Segment [Member] | Pass [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 1,738 | 3,849 | ' |
Consumer Portfolio Segment [Member] | Pass [Member] | Other LTV [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 679 | 650 | ' |
Consumer Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 3 | 10 | ' |
Consumer Portfolio Segment [Member] | Substandard [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | ' | 31 | ' |
Consumer Portfolio Segment [Member] | Loan to Value Ratio Less than 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 43,112 | 42,790 | ' |
Consumer Portfolio Segment [Member] | Loan to Value Ratio Greater than or Equal to 75 Percent [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 1,738 | 3,880 | ' |
Consumer Portfolio Segment [Member] | Other LTV [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 679 | 650 | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 45,529 | 47,320 | ' |
Pass [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 448,582 | 395,760 | ' |
Special Mention [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | 4,854 | 9,217 | ' |
Substandard [Member] | ' | ' | ' |
Internal Risk Rating | ' | ' | ' |
Loans recievable | $10,370 | $18,852 | ' |
Note_3_Loans_Receivable_and_Al7
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Credit Risk Profile (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | $463,806 | $423,829 | $436,072 |
Commercial Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 50,604 | 28,985 | ' |
Commercial Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 5,828 | 6,152 | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 56,432 | 35,137 | 40,142 |
Commercial Real Estate Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 255,414 | 221,007 | ' |
Commercial Real Estate Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 142 | 1,765 | ' |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 255,556 | 222,772 | 223,459 |
Real Estate Construction [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 8,622 | ' | ' |
Real Estate Construction [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | ' | 260 | ' |
Real Estate Construction [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 8,622 | 260 | 335 |
Real Estate Construction to Permanent [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 11,725 | 10,183 | ' |
Real Estate Construction to Permanent [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | ' | 1,189 | ' |
Real Estate Construction to Permanent [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 11,725 | 11,372 | 10,296 |
Residential Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 84,029 | 104,030 | ' |
Residential Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 1,913 | 2,938 | ' |
Residential Portfolio Segment [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 85,942 | 106,968 | 114,153 |
Consumer Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 45,526 | 47,287 | ' |
Consumer Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 3 | 33 | ' |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 45,529 | 47,320 | ' |
Performing Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | 455,920 | 411,492 | ' |
Nonperforming Financing Receivable [Member] | ' | ' | ' |
Ceded Credit Risk [Line Items] | ' | ' | ' |
Loans receivable | $7,886 | $12,337 | ' |
Note_3_Loans_Receivable_and_Al8
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Commercial | ' | ' |
Loans greater than 90 days past due and accruing | $942,000 | $866,000 |
Non-Accrual and Past Due Loans [Member] | Commercial Portfolio Segment [Member] | Pass [Member] | ' | ' |
Commercial | ' | ' |
Loans greater than 90 days past due and accruing | 942,000 | 25,000 |
Total non-accrual and past due loans | 942,000 | 25,000 |
Non-Accrual and Past Due Loans [Member] | Commercial Portfolio Segment [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans 61-90 days past due | 4,000 | ' |
Non-accrual loans greater than 90 days past due | 15,000 | 2,000 |
Non-accrual loans past due | 19,000 | 2,000 |
Non-accrual loans current | 5,809,000 | 6,150,000 |
Total non-accrual and past due loans | 5,828,000 | 6,152,000 |
Non-Accrual and Past Due Loans [Member] | Commercial Portfolio Segment [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans 61-90 days past due | 4,000 | ' |
Non-accrual loans greater than 90 days past due | 15,000 | 2,000 |
Non-accrual loans past due | 19,000 | 2,000 |
Non-accrual loans current | 5,809,000 | 6,150,000 |
Loans greater than 90 days past due and accruing | 942,000 | 25,000 |
Total non-accrual and past due loans | 6,770,000 | 6,177,000 |
Non-Accrual and Past Due Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | ' | 1,765,000 |
Non-accrual loans past due | ' | 1,765,000 |
Non-accrual loans current | 142,000 | ' |
Loans greater than 90 days past due and accruing | ' | 841,000 |
Total non-accrual and past due loans | 142,000 | 2,606,000 |
Non-Accrual and Past Due Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | ' | 1,765,000 |
Non-accrual loans past due | ' | 1,765,000 |
Non-accrual loans current | 142,000 | ' |
Loans greater than 90 days past due and accruing | ' | 841,000 |
Total non-accrual and past due loans | 142,000 | 2,606,000 |
Non-Accrual and Past Due Loans [Member] | Residential Portfolio Segment [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | 1,913,000 | 2,553,000 |
Non-accrual loans past due | 1,913,000 | 2,553,000 |
Non-accrual loans current | ' | 385,000 |
Total non-accrual and past due loans | 1,913,000 | 2,938,000 |
Non-Accrual and Past Due Loans [Member] | Residential Portfolio Segment [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | 1,913,000 | 2,553,000 |
Non-accrual loans past due | 1,913,000 | 2,553,000 |
Non-accrual loans current | ' | 385,000 |
Total non-accrual and past due loans | 1,913,000 | 2,938,000 |
Non-Accrual and Past Due Loans [Member] | Consumer Portfolio Segment [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans 61-90 days past due | 3,000 | ' |
Non-accrual loans greater than 90 days past due | ' | 2,000 |
Non-accrual loans past due | 3,000 | 2,000 |
Non-accrual loans current | ' | 31,000 |
Total non-accrual and past due loans | 3,000 | 33,000 |
Non-Accrual and Past Due Loans [Member] | Consumer Portfolio Segment [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans 61-90 days past due | 3,000 | ' |
Non-accrual loans greater than 90 days past due | ' | 2,000 |
Non-accrual loans past due | 3,000 | 2,000 |
Non-accrual loans current | ' | 31,000 |
Total non-accrual and past due loans | 3,000 | 33,000 |
Non-Accrual and Past Due Loans [Member] | Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | ' | 260,000 |
Non-accrual loans past due | ' | 260,000 |
Total non-accrual and past due loans | ' | 260,000 |
Non-Accrual and Past Due Loans [Member] | Real Estate Construction [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans greater than 90 days past due | ' | 260,000 |
Non-accrual loans past due | ' | 260,000 |
Total non-accrual and past due loans | ' | 260,000 |
Non-Accrual and Past Due Loans [Member] | Real Estate Construction to Permanent [Member] | Substandard [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans current | ' | 1,189,000 |
Total non-accrual and past due loans | ' | 1,189,000 |
Non-Accrual and Past Due Loans [Member] | Real Estate Construction to Permanent [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans current | ' | 1,189,000 |
Total non-accrual and past due loans | ' | 1,189,000 |
Non-Accrual and Past Due Loans [Member] | ' | ' |
Commercial | ' | ' |
Non-accrual loans 61-90 days past due | 7,000 | ' |
Non-accrual loans greater than 90 days past due | 1,928,000 | 4,582,000 |
Non-accrual loans past due | 1,935,000 | 4,582,000 |
Non-accrual loans current | 5,951,000 | 7,755,000 |
Loans greater than 90 days past due and accruing | 942,000 | 866,000 |
Total non-accrual and past due loans | $8,828,000 | $13,203,000 |
Note_3_Loans_Receivable_and_Al9
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Commercial | ' | ' | ' |
Total loans | $463,806 | $423,829 | $436,072 |
Performing and Accruing Loans [Member] | Commercial Portfolio Segment [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 93 | 725 | ' |
Performing (accruing) loans past due | 93 | 725 | ' |
Performing (accruing) loans current | 49,288 | 26,790 | ' |
Performing (accruing) loans | 49,381 | 27,515 | ' |
Total non-accrual and past due loans | 942 | 25 | ' |
Total loans | 50,323 | 27,540 | ' |
Performing and Accruing Loans [Member] | Commercial Portfolio Segment [Member] | Special Mention [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 128 | 170 | ' |
Performing (accruing) loans | 128 | 170 | ' |
Total loans | 128 | 170 | ' |
Performing and Accruing Loans [Member] | Commercial Portfolio Segment [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 153 | 1,275 | ' |
Performing (accruing) loans | 153 | 1,275 | ' |
Total non-accrual and past due loans | 5,828 | 6,152 | ' |
Total loans | 5,981 | 7,427 | ' |
Performing and Accruing Loans [Member] | Commercial Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 93 | 725 | ' |
Performing (accruing) loans past due | 93 | 725 | ' |
Performing (accruing) loans current | 49,569 | 28,235 | ' |
Performing (accruing) loans | 49,662 | 28,960 | ' |
Total non-accrual and past due loans | 6,770 | 6,177 | ' |
Total loans | 56,432 | 35,137 | ' |
Performing and Accruing Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 583 | 1,845 | ' |
Performing (accruing) loans 61-90 days past due | ' | 266 | ' |
Performing (accruing) loans past due | 583 | 2,111 | ' |
Performing (accruing) loans current | 247,774 | 204,615 | ' |
Performing (accruing) loans | 248,357 | 206,726 | ' |
Total loans | 248,357 | 206,726 | ' |
Performing and Accruing Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 1,050 | ' | ' |
Performing (accruing) loans past due | 1,050 | ' | ' |
Performing (accruing) loans current | 3,676 | 9,047 | ' |
Performing (accruing) loans | 4,726 | 9,047 | ' |
Total loans | 4,726 | 9,047 | ' |
Performing and Accruing Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 2,331 | 4,394 | ' |
Performing (accruing) loans | 2,331 | 4,394 | ' |
Total non-accrual and past due loans | 142 | 2,605 | ' |
Total loans | 2,473 | 6,999 | ' |
Performing and Accruing Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 1,633 | 1,845 | ' |
Performing (accruing) loans 61-90 days past due | ' | 266 | ' |
Performing (accruing) loans past due | 1,633 | 2,111 | ' |
Performing (accruing) loans current | 253,781 | 218,056 | ' |
Performing (accruing) loans | 255,414 | 220,167 | ' |
Total non-accrual and past due loans | 142 | 2,605 | ' |
Total loans | 255,556 | 222,772 | ' |
Performing and Accruing Loans [Member] | Real Estate Construction [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 8,622 | ' | ' |
Performing (accruing) loans | 8,622 | ' | ' |
Total loans | 8,622 | ' | ' |
Performing and Accruing Loans [Member] | Real Estate Construction [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total non-accrual and past due loans | ' | 260 | ' |
Total loans | ' | 260 | ' |
Performing and Accruing Loans [Member] | Real Estate Construction [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 8,622 | ' | ' |
Performing (accruing) loans | 8,622 | ' | ' |
Total non-accrual and past due loans | ' | 260 | ' |
Total loans | 8,622 | 260 | ' |
Performing and Accruing Loans [Member] | Real Estate Construction to Permanent [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 11,725 | 10,183 | ' |
Performing (accruing) loans | 11,725 | 10,183 | ' |
Total loans | 11,725 | 10,183 | ' |
Performing and Accruing Loans [Member] | Real Estate Construction to Permanent [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total non-accrual and past due loans | ' | 1,189 | ' |
Total loans | ' | 1,189 | ' |
Performing and Accruing Loans [Member] | Real Estate Construction to Permanent [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 11,725 | 10,183 | ' |
Performing (accruing) loans | 11,725 | 10,183 | ' |
Total non-accrual and past due loans | ' | 1,189 | ' |
Total loans | 11,725 | 11,372 | ' |
Performing and Accruing Loans [Member] | Residential Portfolio Segment [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 502 | 32 | ' |
Performing (accruing) loans past due | 502 | 32 | ' |
Performing (accruing) loans current | 83,527 | 103,998 | ' |
Performing (accruing) loans | 84,029 | 104,030 | ' |
Total loans | 84,029 | 104,030 | ' |
Performing and Accruing Loans [Member] | Residential Portfolio Segment [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total non-accrual and past due loans | 1,913 | 2,938 | ' |
Total loans | 1,913 | 2,938 | ' |
Performing and Accruing Loans [Member] | Residential Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 502 | 32 | ' |
Performing (accruing) loans past due | 502 | 32 | ' |
Performing (accruing) loans current | 83,527 | 103,998 | ' |
Performing (accruing) loans | 84,029 | 104,030 | ' |
Total non-accrual and past due loans | 1,913 | 2,938 | ' |
Total loans | 85,942 | 106,968 | ' |
Performing and Accruing Loans [Member] | Consumer Portfolio Segment [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 21 | 350 | ' |
Performing (accruing) loans 61-90 days past due | ' | 561 | ' |
Performing (accruing) loans past due | 21 | 911 | ' |
Performing (accruing) loans current | 45,505 | 46,368 | ' |
Performing (accruing) loans | 45,526 | 47,279 | ' |
Total loans | 45,526 | 47,279 | ' |
Performing and Accruing Loans [Member] | Consumer Portfolio Segment [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | ' | 7 | ' |
Performing (accruing) loans past due | ' | 7 | ' |
Performing (accruing) loans | ' | 7 | ' |
Total non-accrual and past due loans | 3 | 34 | ' |
Total loans | 3 | 41 | ' |
Performing and Accruing Loans [Member] | Consumer Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 21 | 357 | ' |
Performing (accruing) loans 61-90 days past due | ' | 561 | ' |
Performing (accruing) loans past due | 21 | 918 | ' |
Performing (accruing) loans current | 45,505 | 46,368 | ' |
Performing (accruing) loans | 45,526 | 47,286 | ' |
Total non-accrual and past due loans | 3 | 34 | ' |
Total loans | 45,529 | 47,320 | ' |
Performing and Accruing Loans [Member] | Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 1,199 | 2,602 | ' |
Performing (accruing) loans 61-90 days past due | ' | 266 | ' |
Performing (accruing) loans past due | 1,199 | 2,868 | ' |
Performing (accruing) loans current | 446,441 | 345,586 | ' |
Performing (accruing) loans | 447,640 | 348,454 | ' |
Total non-accrual and past due loans | 942 | 25 | ' |
Total loans | 448,582 | 348,479 | ' |
Performing and Accruing Loans [Member] | Special Mention [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 1,050 | ' | ' |
Performing (accruing) loans past due | 1,050 | ' | ' |
Performing (accruing) loans current | 3,804 | 9,217 | ' |
Performing (accruing) loans | 4,854 | 9,217 | ' |
Total loans | 4,854 | 9,217 | ' |
Performing and Accruing Loans [Member] | Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans current | 2,484 | 5,669 | ' |
Performing (accruing) loans | 2,484 | 5,669 | ' |
Total non-accrual and past due loans | 7,886 | 13,144 | ' |
Total loans | 10,370 | 18,813 | ' |
Performing and Accruing Loans [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Performing (accruing) loans 31-60 days past due | 2,249 | 2,959 | ' |
Performing (accruing) loans 61-90 days past due | ' | 827 | ' |
Performing (accruing) loans past due | 2,249 | 3,786 | ' |
Performing (accruing) loans current | 452,729 | 406,840 | ' |
Performing (accruing) loans | 454,978 | 410,626 | ' |
Total non-accrual and past due loans | 8,828 | 13,203 | ' |
Total loans | 463,806 | 423,829 | ' |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 56,432 | 35,137 | 40,142 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 255,556 | 222,772 | 223,459 |
Real Estate Construction [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 8,622 | 260 | 335 |
Real Estate Construction to Permanent [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 11,725 | 11,372 | 10,296 |
Residential Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 85,942 | 106,968 | 114,153 |
Consumer Portfolio Segment [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 45,529 | 47,320 | ' |
Pass [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 448,582 | 395,760 | ' |
Special Mention [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | 4,854 | 9,217 | ' |
Substandard [Member] | ' | ' | ' |
Commercial | ' | ' | ' |
Total loans | $10,370 | $18,852 | ' |
Recovered_Sheet1
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Impaired Loans (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, recorded investment | $13,799 | $14,482 |
Loans with no related allowance recorded, unpaid principal balance | 15,627 | 18,191 |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | 5,968 | 7,539 |
Loans with an allowance recorded, unpaid principal balance | 6,012 | 8,195 |
Loans, related allowance | 1,520 | 1,891 |
Loans, recorded investment | 19,767 | 22,021 |
Loans, unpaid principal balance | 21,639 | 26,386 |
Commercial Portfolio Segment [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, recorded investment | 4 | 2 |
Loans with no related allowance recorded, unpaid principal balance | 96 | 151 |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | 5,823 | 6,150 |
Loans with an allowance recorded, unpaid principal balance | 5,823 | 6,150 |
Loans, related allowance | 1,513 | 1,500 |
Loans, recorded investment | 5,827 | 6,152 |
Loans, unpaid principal balance | 5,919 | 6,301 |
Commercial Real Estate Portfolio Segment [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, recorded investment | 8,262 | 7,596 |
Loans with no related allowance recorded, unpaid principal balance | 9,077 | 8,316 |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | 142 | 170 |
Loans with an allowance recorded, unpaid principal balance | 186 | 214 |
Loans, related allowance | 4 | 31 |
Loans, recorded investment | 8,404 | 7,766 |
Loans, unpaid principal balance | 9,263 | 8,530 |
Real Estate Construction [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, unpaid principal balance | 732 | ' |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | ' | 260 |
Loans with an allowance recorded, unpaid principal balance | ' | 732 |
Loans, related allowance | ' | 260 |
Loans, recorded investment | ' | 260 |
Loans, unpaid principal balance | 732 | 732 |
Residential Portfolio Segment [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, recorded investment | 4,978 | 5,103 |
Loans with no related allowance recorded, unpaid principal balance | 5,087 | 7,636 |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | ' | 957 |
Loans with an allowance recorded, unpaid principal balance | ' | 1,097 |
Loans, related allowance | ' | 98 |
Loans, recorded investment | 4,978 | 6,060 |
Loans, unpaid principal balance | 5,087 | 8,733 |
Consumer Portfolio Segment [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Loans with no related allowance recorded, recorded investment | 555 | 592 |
Loans with no related allowance recorded, unpaid principal balance | 635 | 671 |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | 3 | 2 |
Loans with an allowance recorded, unpaid principal balance | 3 | 2 |
Loans, related allowance | 3 | 2 |
Loans, recorded investment | 558 | 594 |
Loans, unpaid principal balance | 638 | 673 |
Real Estate Construction to Permanent [Member] | ' | ' |
With an allowance recorded: | ' | ' |
Loans with an allowance recorded, recorded investment | ' | 1,189 |
Loans with an allowance recorded, unpaid principal balance | ' | 1,417 |
Loans, recorded investment | ' | 1,189 |
Loans, unpaid principal balance | ' | $1,417 |
Recovered_Sheet2
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Troubled Debt Restructured Loans (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | 2 | 2 |
Troubled debt restructured loan amount | $2,091 | $2,188 |
Accrual and Past Due Loans [Member] | Commercial Portfolio Segment [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | 2 | 1 |
Troubled debt restructured loan amount | 2,091 | 991 |
Accrual and Past Due Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | 2 | 1 |
Troubled debt restructured loan amount | 2,091 | 991 |
Non-Accrual Loans [Member] | Real Estate Construction to Permanent [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | ' | 1 |
Troubled debt restructured loan amount | ' | 1,197 |
Non-Accrual Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | ' | 1 |
Troubled debt restructured loan amount | ' | 1,197 |
Commercial Portfolio Segment [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | 2 | 1 |
Troubled debt restructured loan amount | 2,091 | 991 |
Real Estate Construction to Permanent [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of loans | ' | 1 |
Troubled debt restructured loan amount | ' | $1,197 |
Recovered_Sheet3
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Loans Modified in a Troubled Debt Restructuring (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Loans Modified in a Troubled Debt Restructuring [Line Items] | ' |
Number of Relationships | 2 |
Pre-Modification Outstanding Recorded Investment | $2,439 |
Number of Relationships | 2 |
Post-Modification Outstanding Recorded Investment | 2,430 |
Commercial Real Estate Portfolio Segment [Member] | ' |
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Loans Modified in a Troubled Debt Restructuring [Line Items] | ' |
Number of Relationships | 2 |
Pre-Modification Outstanding Recorded Investment | 2,439 |
Number of Relationships | 2 |
Post-Modification Outstanding Recorded Investment | $2,430 |
Note_4_Deposits_Details_Summar
Note 4 - Deposits (Details) - Summary of the Companybs Deposits (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of the Companybs Deposits [Abstract] | ' | ' |
Non-interest bearing | $62,657 | $55,358 |
Interest bearing | ' | ' |
NOW | 25,818 | 28,618 |
Savings | 85,831 | 80,983 |
Money market | 25,722 | 29,310 |
Time certificates, less than $100,000 | 120,127 | 129,548 |
Time certificates, $100,000 or more | 94,975 | 106,387 |
Brokered Deposits (CDARS) | 5,985 | ' |
Total interest bearing | 358,458 | 374,846 |
Total Deposits | $421,115 | $430,204 |
Note_5_ShareBased_Compensation2
Note 5 - Share-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Note 5 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 3,000,000 | ' | 3,000,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 2,202,100 | ' | 2,202,100 | ' |
Allocated Share-based Compensation Expense | $73,000 | $55,000 | $203,000 | $71,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 385,652 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $555,000 | ' | $555,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '2 years 204 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 0 | ' | 0 | ' |
Restricted Stock [Member] | Share-based Compensation Award, Tranche One [Member] | ' | ' | ' | ' |
Note 5 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '3 years | ' |
Restricted Stock [Member] | Share-based Compensation Award, Tranche Two [Member] | ' | ' | ' | ' |
Note 5 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '4 years | ' |
Restricted Stock [Member] | Share-based Compensation Award, Tranche Three [Member] | ' | ' | ' | ' |
Note 5 - Share-Based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '5 years | ' |
Note_5_ShareBased_Compensation3
Note 5 - Share-Based Compensation (Details) - Summary of Restricted Shares (Restricted Stock [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Restricted Stock [Member] | ' |
Note 5 - Share-Based Compensation (Details) - Summary of Restricted Shares [Line Items] | ' |
Non-vested at December 31, 2013 | 281,835 |
Non-vested at December 31, 2013 | $1.26 |
Non-vested at September 30, 2014 | 654,174 |
Non-vested at September 30, 2014 | $1.12 |
Granted | 385,652 |
Granted | $1.04 |
Vested | -13,313 |
Vested | $1.73 |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ($16,812,000) | $0 | ($16,812,000) | ($21,000) | ' | ' |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | ' | ' | -16,800,000 | ' | -10,400,000 | ' |
Percentage of Change in Ownership for Operating Loss Carryforward | ' | ' | ' | ' | ' | 50.00% |
Annual Limitation Due to Impact of Recent Ownership Change | ' | ' | ' | ' | ' | 284,000 |
Operating Loss Carryforwards | ' | ' | ' | ' | ' | 36,200,000 |
Net Operating Loss Carryforward Period | ' | ' | ' | ' | '20 years | ' |
Possible Utilization Amount of Pre-Change Net Operating Losses and Net Built in Deduction | ' | ' | ' | ' | 5,600,000 | ' |
Deferred Tax Assets, Valuation Allowance | $14,400,000 | ' | $14,400,000 | ' | ' | ' |
Note_7_Income_Loss_Per_Share_D
Note 7 - Income (Loss) Per Share (Details) | Sep. 30, 2014 |
Earnings Per Share [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 |
Note_7_Income_Loss_Per_Share_D1
Note 7 - Income (Loss) Per Share (Details) - Computation of Income (Loss) Per Share (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Computation of Income (Loss) Per Share [Abstract] | ' | ' | ' | ' |
Net Income | $17,261,000 | ($2,370,000) | $18,105,000 | ($8,239,000) |
Weighted Average Common Shares O/S | 38,502,062 | 38,409,683 | 38,497,625 | 38,426,431 |
Amount | $0.45 | ($0.06) | $0.47 | ($0.21) |
Note_8_Other_Comprehensive_Inc2
Note 8 - Other Comprehensive Income (Details) - Other 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 |
Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Unrealized holding gains arising during the period | $51 | ($265) | $552 | ($839) |
Unrealized holding gains arising during the period | $51 | ($265) | $552 | ($839) |
Note_9_Financial_Instruments_w2
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) (USD $) | Sep. 30, 2014 |
Risks and Uncertainties [Abstract] | ' |
Banks Reserve Based on Analysis in Unfunded Commitments | $12,000 |
Note_9_Financial_Instruments_w3
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | $80,915 |
Future Loan Commitments [Member] | ' |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | 12,412 |
Home Equity Lines of Credit [Member] | ' |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | 25,277 |
Unused lines of Credit [Member] | ' |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | 33,727 |
Undisbursed Construction Loans [Member] | ' |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | 8,381 |
Financial Standby Letter of Credit [Member] | ' |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | ' |
Commitments to extend credit | $1,118 |
Note_10_Regulatory_and_Operati2
Note 10 - Regulatory and Operational Matters (Details) - Companybs and Bankbs Actual Capital Amounts and Ratios (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Parent Company [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total Capital (to Risk Weighted Assets) Actual Amount | $62,689 | $56,060 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 13.84% | 13.95% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 36,234 | 32,153 |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | ' | ' |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | ' | ' |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 57,777 | 51,027 |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 12.76% | 12.70% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 18,117 | 16,076 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | ' | ' |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | ' | ' |
Tier 1 Capital (to Average Assets) Actual Amount | 57,777 | 51,027 |
Tier 1 Capital (to Average Assets) Actual Ratio | 10.60% | 9.33% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | 21,808 | 21,888 |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | ' | ' |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | ' | ' |
Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total Capital (to Risk Weighted Assets) Actual Amount | 62,582 | 55,758 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 13.83% | 13.86% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 36,208 | 32,187 |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 54,312 | 48,280 |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 12.00% | 12.00% |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 57,669 | 50,730 |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 12.74% | 12.61% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 18,104 | 16,093 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 47,523 | 42,245 |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.50% | 10.50% |
Tier 1 Capital (to Average Assets) Actual Amount | 57,669 | 50,730 |
Tier 1 Capital (to Average Assets) Actual Ratio | 10.58% | 9.28% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | 21,794 | 21,872 |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $49,037 | $49,212 |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 9.00% | 9.00% |
Note_11_Fair_Value_and_Interes2
Note 11 - Fair Value and Interest Rate Risk (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Other Investments | $4,450 | $4,450 |
Note_11_Fair_Value_and_Interes3
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $34,571 | $37,701 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 18,307 | 21,752 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 18,307 | 21,752 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 18,307 | 21,752 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 7,314 | 7,079 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 7,314 | 7,079 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 7,314 | 7,079 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 8,950 | 8,870 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 8,950 | 8,870 |
Corporate Debt Securities [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 8,950 | 8,870 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 34,571 | 37,701 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Recurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $34,571 | $37,701 |
Note_11_Fair_Value_and_Interes4
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Non-Recurring Basis (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Non-Recurring Basis [Line Items] | ' | ' |
Non-accrual loans | $19,767 | $22,021 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Non-Recurring Basis [Line Items] | ' | ' |
Non-accrual loans | 6,366 | 11,312 |
Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Non-Recurring Basis [Line Items] | ' | ' |
Non-accrual loans | $6,366 | $11,312 |
Note_11_Fair_Value_and_Interes5
Note 11 - Fair Value and Interest Rate Risk (Details) - Carrying Amounts and Estimated Fair Values of Financial Instruments (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Cash and noninterest bearing balances due from banks | $1,530 | $1,570 |
Interest-bearing deposits due from banks | 56,060 | 33,296 |
Other investments | 4,450 | 4,450 |
Federal Reserve Bank stock | 1,541 | 1,444 |
Federal Home Loan Bank stock | 6,428 | 4,143 |
Loans receivable, net | 458,893 | 418,148 |
Accrued interest receivable | 1,649 | 1,566 |
Financial Liabilities: | ' | ' |
Savings deposits | 85,831 | 80,983 |
Money market deposits | 25,722 | 29,310 |
NOW accounts | 25,818 | 28,618 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and noninterest bearing balances due from banks | 1,530 | 1,570 |
Cash and noninterest bearing balances due from banks | 1,530 | 1,570 |
Interest-bearing deposits due from banks | 56,060 | 33,295 |
Interest-bearing deposits due from banks | 56,060 | 33,295 |
Federal Reserve Bank stock | 1,541 | 1,444 |
Federal Reserve Bank stock | 1,541 | 1,444 |
Federal Home Loan Bank stock | 6,428 | 4,143 |
Federal Home Loan Bank stock | 6,428 | 4,143 |
Accrued interest receivable | 1,649 | 1,566 |
Accrued interest receivable | 1,649 | 1,566 |
Financial Liabilities: | ' | ' |
Demand deposits | 62,657 | 55,358 |
Demand deposits | 62,657 | 55,358 |
Savings deposits | 85,831 | 80,983 |
Savings deposits | 85,831 | 80,983 |
Money market deposits | 25,722 | 29,310 |
Money market deposits | 25,722 | 29,310 |
NOW accounts | 25,818 | 28,618 |
NOW accounts | 25,818 | 28,618 |
Accrued interest payable | 92 | 1,388 |
Accrued interest payable | 92 | 1,388 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Financial Assets: | ' | ' |
Other investments | 4,450 | 4,450 |
Other investments | 4,450 | 4,450 |
Financial Liabilities: | ' | ' |
Time deposits | 221,087 | 235,935 |
Time deposits | 221,256 | 236,602 |
FHLB Borrowings | 132,000 | 57,000 |
FHLB Borrowings | 132,000 | 57,000 |
Subordinated debentures | 2,191 | 8,248 |
Subordinated debentures | 2,191 | 8,248 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Financial Assets: | ' | ' |
Loans receivable, net | 458,893 | 418,148 |
Loans receivable, net | $463,161 | $424,831 |
Note_12_Restructuring_Charges_1
Note 12 - Restructuring Charges and Asset Disposals (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | |
Jun. 13, 2013 | Jul. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Restructuring and Related Activities [Abstract] | ' | ' | ' | ' | ' |
Restructuring Charges | ' | ' | $54,000 | $0 | $448,000 |
Severance Costs | 515,000 | 54,000 | ' | ' | 569,000 |
Restructuring Reserve, Accrual Adjustment | ' | ' | ' | ' | 121,000 |
Restructuring and Related Cost, Number of Positions Eliminated | 19 | ' | ' | ' | ' |
Restructuring Reserve | ' | ' | ' | $0 | ' |