Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | PATRIOT NATIONAL BANCORP INC | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -19 | |
Entity Common Stock, Shares Outstanding | 3,953,949 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 1098146 | |
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 | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 |
Consolidated_Balance_Sheets_Cu
Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, unless otherwise specified | ||||
Cash and due from banks: | ||||
Noninterest bearing deposits and cash | $2,080 | $2,095 | ||
Interest bearing deposits | 63,878 | 71,163 | ||
Total cash and cash equivalents | 65,958 | 73,258 | ||
Securities: | ||||
Available for sale securities, at fair value (Note 2) | 32,738 | 33,682 | ||
Other Investments | 4,450 | 4,450 | ||
Federal Reserve Bank stock, at cost | 2,020 | 2,058 | ||
Federal Home Loan Bank stock, at cost | 6,628 | 6,628 | ||
Total securities | 45,836 | 46,818 | ||
Loans receivable (net of allowance for loan losses: 2015: $5,193 2014: $4,924) (Note 3) | 494,166 | 471,984 | ||
Accrued interest and dividends receivable | 1,974 | 1,918 | ||
Premises and equipment, net | 23,056 | 22,357 | ||
Deferred tax asset (Note 6) | 14,621 | 14,926 | ||
Other assets | 1,495 | 1,363 | ||
Total assets | 647,106 | 632,624 | ||
Deposits (Note 4): | ||||
Noninterest bearing deposits | 70,331 | 63,398 | ||
Interest bearing deposits | 386,776 | 379,635 | ||
Total deposits | 457,107 | 443,033 | ||
Federal Home Loan Bank borrowings | 120,000 | 120,000 | ||
Junior subordinated debt owed to unconsolidated trust | 8,248 | 8,248 | ||
Accrued expenses and other liabilities | 2,450 | 2,608 | ||
Total liabilities | 587,805 | 573,889 | ||
Commitments and Contingencies (Note 9) | ||||
Shareholders' equity (1) (Note 7) | ||||
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding | ||||
3,953,949 shares outstanding. 2014 : 3,952,179 shares issued; 3,951,009 shares outstanding | 396 | [1] | 395 | [1] |
Additional paid-in capital (Note 5) | 105,865 | [1] | 105,752 | [1] |
Accumulated deficit | -46,686 | [1] | -46,975 | [1] |
Less: Treasury stock, at cost: 2015 and 2014, 1,170 shares | -160 | [1] | -160 | [1] |
Accumulated other comprehensive loss (Note 8) | -114 | [1] | -277 | [1] |
Total shareholders' equity | 59,301 | [1] | 58,735 | [1] |
Total liabilities and shareholders' equity | $647,106 | [1] | $632,624 | [1] |
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Consolidated_Balance_Sheets_Cu1
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, except Share data, unless otherwise specified | ||||
Net of allowance for loan losses (in Dollars) | $5,193 | $4,924 | ||
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 | [1] | $0.01 | [1] |
Common stock, shares authorized | 100,000,000 | [1] | 100,000,000 | [1] |
Common stock, shares issued | 3,955,119 | [1] | 3,952,179 | [1] |
Common stock, shares outstanding | 3,953,949 | [1] | 3,951,009 | [1] |
Treasury stock, shares | 1,170 | [1] | 1,170 | [1] |
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations [Unaudited] (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | |||
Interest and Dividend Income | ||||
Interest and fees on loans | $5,546,000 | $4,691,000 | ||
Interest on investment securities | 116,000 | 135,000 | ||
Dividends on investment securities | 57,000 | 41,000 | ||
Other interest income | 29,000 | 12,000 | ||
Total interest and dividend income | 5,748,000 | 4,879,000 | ||
Interest Expense | ||||
Interest on deposits | 529,000 | 637,000 | ||
Interest on Federal Home Loan Bank borrowings | 71,000 | 33,000 | ||
Interest on subordinated debt | 71,000 | 200,000 | ||
Total interest expense | 671,000 | 870,000 | ||
Net interest income | 5,077,000 | 4,009,000 | ||
Provision for Loan Losses | 250,000 | |||
Net interest income after provision for loan losses | 4,827,000 | 4,009,000 | ||
Non-Interest Income | ||||
Loan application, inspection & processing fees | 50,000 | 66,000 | ||
Fees and service charges | 174,000 | 219,000 | ||
Earnings on cash surrender value of life insurance | 121,000 | |||
Other income | 170,000 | 187,000 | ||
Total non-interest income | 394,000 | 593,000 | ||
Non-Interest Expense | ||||
Salaries and benefits | 2,344,000 | 1,971,000 | ||
Occupancy and equipment expense | 955,000 | 922,000 | ||
Data processing expense | 250,000 | 250,000 | ||
Advertising and promotional expenses | 50,000 | 51,000 | ||
Professional and other outside services | 569,000 | 471,000 | ||
Loan administration and processing expenses | 22,000 | 17,000 | ||
Regulatory assessments | 154,000 | 230,000 | ||
Insurance expense | 81,000 | 97,000 | ||
Other real estate operations | 16,000 | |||
Material and communications | 81,000 | 93,000 | ||
Other operating expenses | 225,000 | 165,000 | ||
Total non-interest expense | 4,731,000 | 4,283,000 | ||
Income before income taxes | 490,000 | 319,000 | ||
Provision for income taxes | 201,000 | |||
Net income | $289,000 | $319,000 | ||
Basic and diluted income per share (1) (in Dollars per share) | $0.07 | [1] | $0.08 | [1] |
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Net income | $289,000 | $319,000 |
Unrealized holding gains on available for sale securities arising during the period, net of taxes | 163,000 | 393,000 |
Total comprehensive income | $452,000 | $712,000 |
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] | AOCI Attributable to Parent [Member] | Total | |
Beginning balance at Dec. 31, 2013 | $388,000 | $105,484,000 | ($62,684,000) | ($160,000) | ($1,187,000) | $41,841,000 | |
Net income (loss) | 319,000 | 319,000 | |||||
Other comprehensive income | 393,000 | 393,000 | |||||
Share-based compensation expense | 59,000 | 59,000 | |||||
Issuance of restricted stock | 3,000 | -3,000 | |||||
Ending balance at Mar. 31, 2014 | 391,000 | 105,540,000 | -62,365,000 | -160,000 | -794,000 | 42,612,000 | |
Beginning balance at Dec. 31, 2014 | 395,000 | 105,752,000 | -46,975,000 | -160,000 | -277,000 | 58,735,000 | [1] |
Net income (loss) | 289,000 | 289,000 | |||||
Other comprehensive income | 163,000 | 163,000 | |||||
Share-based compensation expense | 114,000 | 114,000 | |||||
Issuance of restricted stock | 1,000 | -1,000 | |||||
Ending balance at Mar. 31, 2015 | $396,000 | $105,865,000 | ($46,686,000) | ($160,000) | ($114,000) | $59,301,000 | [1] |
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows [Unaudited] (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Net income | $289,000 | $319,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization of investment premiums | 58,000 | 66,000 |
Amortization and accretion of purchase loan premiums and discounts, net | 127,000 | 18,000 |
Provision for loan losses | 250,000 | |
Earnings on cash surrender value of life insurance | -121,000 | |
Depreciation and amortization | 246,000 | 293,000 |
Share-based compensation | 114,000 | 59,000 |
Deferred income taxes | 201,000 | |
Changes in assets and liabilities: | ||
Decrease (increase) in net deferred loan costs | 139,000 | -13,000 |
Increase in accrued interest and dividends receivable | -56,000 | -12,000 |
Increase in other assets | -132,000 | -58,000 |
Decrease in accrued expenses and other liabilities | -158,000 | -296,000 |
Net cash provided by operating activities | 1,078,000 | 255,000 |
Cash Flows from Investing Activities: | ||
Principal repayments on available for sale securities | 1,153,000 | 1,213,000 |
Redemptions of Federal Reserve Bank stock | 38,000 | |
(Increase) decrease in loans | -22,698,000 | 3,020,000 |
Purchase of other real estate owned | -264,000 | |
Purchase of bank premises and equipment, net | -945,000 | -98,000 |
Net cash (used in) provided by investing activities | -22,452,000 | 3,871,000 |
Cash Flows from Financing Activities: | ||
Net increase (decrease) in deposits | 14,074,000 | -2,235,000 |
Increase in FHLB borrowings | 23,000,000 | |
Net cash provided by financing activities | 14,074,000 | 20,765,000 |
Net (decrease) increase in cash and cash equivalents | -7,300,000 | 24,891,000 |
Cash and Cash Equivalents: | ||
Beginning | 73,258,000 | 34,866,000 |
Ending | 65,958,000 | 59,757,000 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 586,000 | 669,000 |
Income taxes paid | $3,000 |
Note_1_Basis_of_Financial_Stat
Note 1 - Basis of Financial Statement Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Basis of Accounting [Text Block] | Note 1: Basis of Financial Statement Presentation |
The Consolidated Balance Sheet at December 31, 2014 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, 2014. | |
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 months ended March 31, 2015 are not necessarily indicative of the results of operations that may be expected for the remainder of 2015. |
Note_2_Investment_Securities
Note 2 - Investment Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014 are as follows: | |||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||
(in thousands) | Amortized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Losses | Value | |||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. Government agency bonds | $ | 7,500 | $ | (4 | ) | $ | 7,496 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 16,424 | (148 | ) | 16,276 | |||||||||||||||||||||
Corporate bonds | 9,000 | (34 | ) | 8,966 | |||||||||||||||||||||
$ | 32,924 | $ | (186 | ) | $ | 32,738 | |||||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (91 | ) | $ | 7,409 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 17,635 | (298 | ) | 17,337 | |||||||||||||||||||||
Corporate bonds | 9,000 | (64 | ) | 8,936 | |||||||||||||||||||||
$ | 34,135 | $ | (453 | ) | $ | 33,682 | |||||||||||||||||||
There were no purchases or sales of available-for-sale securities in 2014 and 2015. | |||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. Government agency bonds | $ | 4,996 | $ | (4 | ) | $ | - | $ | - | $ | 4,996 | $ | (4 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | 3,460 | (11 | ) | 12,816 | (137 | ) | 16,276 | (148 | ) | ||||||||||||||||
Corporate bonds | - | - | 8,966 | (34 | ) | 8,966 | (34 | ) | |||||||||||||||||
Totals | $ | 8,456 | $ | (15 | ) | $ | 21,782 | $ | (171 | ) | $ | 30,238 | $ | (186 | ) | ||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | - | $ | - | $ | 7,409 | $ | (91 | ) | $ | 7,409 | $ | (91 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | - | - | 17,337 | (298 | ) | 17,337 | (298 | ) | |||||||||||||||||
Corporate bonds | - | - | 8,936 | (64 | ) | 8,936 | (64 | ) | |||||||||||||||||
Totals | $ | - | $ | - | $ | 33,682 | $ | (453 | ) | $ | 33,682 | $ | (453 | ) | |||||||||||
At March 31, 2015, ten of eleven available-for-sale securities had unrealized holding losses with aggregate depreciation of 0.6% from the amortized cost. At December 31, 2014, all eleven securities had unrealized losses with aggregate depreciation of 1.3% 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, 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 March 31, 2015. | |||||||||||||||||||||||||
The amortized cost and fair value of available-for-sale debt securities at March 31, 2015 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: | |||||||||||||||||||||||||
Gross | |||||||||||||||||||||||||
(in thousands) | Unrealized | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Losses | |||||||||||||||||||||||
Maturity: | |||||||||||||||||||||||||
Corporate bonds 5 to 10 years | $ | 9,000 | $ | 8,966 | $ | (34 | ) | ||||||||||||||||||
U.S. Government agency bonds < 5 years | 2,500 | 2,500 | - | ||||||||||||||||||||||
U.S. Government agency bonds 5 to 10 years | 5,000 | 4,996 | (4 | ) | |||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 16,424 | 16,276 | (148 | ) | |||||||||||||||||||||
Total | $ | 32,924 | $ | 32,738 | $ | (186 | ) | ||||||||||||||||||
At March 31, 2015 and December 31, 2014, securities of $6.8 million and $7.4 million were pledged with the Federal Reserve Bank of New York to secure municipal deposits. |
Note_3_Loans_Receivable_and_Al
Note 3 - Loans Receivable and Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||
(in thousands) | March 31, | December 31, | |||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Commercial | $ | 52,476 | $ | 53,973 | |||||||||||||||||||||||||||||
Commercial Real Estate | 281,387 | 254,505 | |||||||||||||||||||||||||||||||
Construction | 7,024 | 3,096 | |||||||||||||||||||||||||||||||
Construction to permanent | 9,988 | 10,627 | |||||||||||||||||||||||||||||||
Residential | 102,521 | 108,543 | |||||||||||||||||||||||||||||||
Consumer | 45,963 | 46,164 | |||||||||||||||||||||||||||||||
Total Loans | 499,359 | 476,908 | |||||||||||||||||||||||||||||||
Allowance for loan losses | (5,193 | ) | (4,924 | ) | |||||||||||||||||||||||||||||
Loans receivable, net | $ | 494,166 | $ | 471,984 | |||||||||||||||||||||||||||||
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, construction 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 75% 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 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 when obtained, as a secondary source. Payments on such loans are often dependent upon the successful operation of the underlying business. 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 market share 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 a decline in general economic conditions. | |||||||||||||||||||||||||||||||||
Construction Loans – Construction loans are short-term loans (generally up to 18 months) secured by land for either residential or commercial development. The loans are generally made for acquisition and improvements. Funds are disbursed as phases of construction are completed. 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 home equity 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 March 31, 2015. 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 March 31, 2015 | Commercial | Commercial Real Estate | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||
to Permanent | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,918 | $ | 1,419 | $ | 63 | $ | 215 | $ | 831 | $ | 478 | $ | - | $ | 4,924 | |||||||||||||||||
Charge-offs | - | - | - | - | (3 | ) | (7 | ) | - | (10 | ) | ||||||||||||||||||||||
Recoveries | 16 | - | - | 5 | - | 8 | - | 29 | |||||||||||||||||||||||||
Provision | (637 | ) | 605 | 159 | (29 | ) | (98 | ) | 232 | 18 | 250 | ||||||||||||||||||||||
Ending Balance | $ | 1,297 | $ | 2,024 | $ | 222 | $ | 191 | $ | 730 | $ | 711 | $ | 18 | $ | 5,193 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,297 | 2,024 | 222 | 191 | 730 | 711 | 18 | 5,193 | |||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,297 | $ | 2,024 | $ | 222 | $ | 191 | $ | 730 | $ | 711 | $ | 18 | $ | 5,193 | |||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 52,476 | $ | 281,387 | $ | 7,024 | $ | 9,988 | $ | 102,521 | $ | 45,963 | $ | - | $ | 499,359 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | 8,272 | $ | - | $ | - | $ | 3,406 | $ | 552 | $ | - | $ | 12,230 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 52,476 | $ | 273,115 | $ | 7,024 | $ | 9,988 | $ | 99,115 | $ | 45,411 | $ | - | $ | 487,129 | |||||||||||||||||
The following table sets forth activity in our allowance for loan losses, by loan type, for the three months ended March 31, 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 March 31, 2014 | Commercial | Commercial Real Estate | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||
to Permanent | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,285 | $ | 1,585 | $ | 260 | $ | 25 | $ | 795 | $ | 534 | $ | 197 | $ | 5,681 | |||||||||||||||||
Charge-offs | (9 | ) | - | - | - | (178 | ) | (30 | ) | - | (217 | ) | |||||||||||||||||||||
Recoveries | - | - | - | - | 15 | 1 | - | 16 | |||||||||||||||||||||||||
Provision | 95 | (265 | ) | - | 9 | 72 | 34 | 55 | $ | - | |||||||||||||||||||||||
Ending Balance | $ | 2,371 | $ | 1,320 | $ | 260 | $ | 34 | $ | 704 | $ | 539 | $ | 252 | $ | 5,480 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,500 | $ | 17 | $ | 260 | $ | - | $ | 21 | $ | 2 | $ | - | $ | 1,800 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | 871 | 1,303 | - | 34 | 683 | 537 | 252 | 3,680 | |||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,371 | $ | 1,320 | $ | 260 | $ | 34 | $ | 704 | $ | 539 | $ | 252 | $ | 5,480 | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 38,838 | $ | 217,674 | $ | 260 | $ | 12,718 | $ | 103,766 | $ | 47,347 | $ | - | $ | 420,603 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,052 | $ | 8,855 | $ | 260 | $ | - | $ | 5,192 | $ | 588 | $ | - | $ | 20,947 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 32,786 | $ | 208,819 | $ | - | $ | 12,718 | $ | 98,574 | $ | 46,759 | $ | - | $ | 399,656 | |||||||||||||||||
The following table details for the year ended December 31, 2014 the amount of loans receivable that were evaluated individually, and collectively, for impairment, and the related portion of the allowance for the loans losses that was allocated to each loan portfolio segment: | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
31-Dec-14 | Commercial | Commercial Real Estate | Construction | Construction to Permanent | Residential | Consumer | Total | ||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 7 | $ | 7 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,918 | 1,419 | 63 | 215 | 831 | 471 | 4,917 | ||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,918 | $ | 1,419 | $ | 63 | $ | 215 | $ | 831 | $ | 478 | $ | 4,924 | |||||||||||||||||||
Total Loans ending balance | $ | 53,973 | $ | 254,505 | $ | 3,096 | $ | 10,627 | $ | 108,543 | $ | 46,164 | $ | 476,908 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 2 | 7,398 | - | - | 3,764 | 560 | 11,724 | ||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 53,971 | $ | 247,107 | $ | 3,096 | $ | 10,627 | $ | 104,779 | $ | 45,604 | $ | 465,184 | |||||||||||||||||||
The Company monitors the credit quality of its loans receivable in an ongoing manner. Credit quality is monitored by reviewing certain credit quality indicators and trends, including but not limited to, loan to value ratios, debt service coverage ratios, debt to worth ratios, profitability ratios, cash flows, 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 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 a 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 and adjusted if necessary. Similarly, the Loan Committee can adjust a risk rating. The Company employs a system to ensure an independent review of the ratings annually for commercial credits over $250,000. | |||||||||||||||||||||||||||||||||
The Company uses an independent third party loan reviewer who performs quarterly reviews of a sample of loans, validating the Bank’s risk ratings assigned to such loans. 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. | |||||||||||||||||||||||||||||||||
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 $515,000 at March 31, 2015 and $866,000 at December 31, 2014. If non-accrual loans had been performing in accordance with their contractual terms, the Company would have recorded approximately $4,000 of additional income during the quarter ended March 31, 2015 and $33,000 during the quarter ended March 31, 2014. | |||||||||||||||||||||||||||||||||
The following table sets forth the detail, and delinquency status, of non-accrual loans at March 31, 2015 : | |||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||
2015 | 31-60 Days | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Non-Accrual Loans | |||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||
Commercial Real Estate Substandard | $ | - | $ | - | $ | - | $ | - | $ | 135 | $ | 135 | |||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 135 | $ | 135 | |||||||||||||||||||||
Residential Real Estate Substandard | $ | - | $ | - | $ | 380 | $ | 380 | $ | - | $ | 380 | |||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 380 | $ | 380 | $ | - | $ | 380 | |||||||||||||||||||||
Total | $ | - | $ | - | $ | 380 | $ | 380 | $ | 135 | $ | 515 | |||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||
At March 31, 2015, $135,000 or 26% of the non-accruing loan balance of $515,000 was current and being applied to principal. | |||||||||||||||||||||||||||||||||
There was one loan of $1.5 million that was past due ninety days or more and accruing interest at March 31, 2015. This is a residential mortgage loan which had been in non-accrual status from September 2012 until December 31, 2014. The customer has been making regular payments since September 2013, however, the loan is greater than 90 days past due because not all prior payments owed have not been brought current. | |||||||||||||||||||||||||||||||||
At December 31, 2014, there were five loans totaling $1.8 million which were past due ninety days or more and accruing interest. One loan of $1.6 million was the residential mortgage loan discussed above. The other four loans were mature lines of credit totaling $279,000, which were in the process of renewal. Three of these loans were renewed, and one paid off. | |||||||||||||||||||||||||||||||||
The following table sets forth the detail, and delinquency status, of non-accrual loans at December 31, 2014: | |||||||||||||||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||
2014 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Non-Accrual Loans | |||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2 | $ | 2 | $ | - | $ | 2 | |||||||||||||||||||||
Total Commercial | $ | - | $ | - | $ | 2 | $ | 2 | $ | - | $ | 2 | |||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 138 | $ | 138 | |||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 138 | $ | 138 | |||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 719 | $ | 719 | $ | - | $ | 719 | |||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 719 | $ | 719 | $ | - | $ | 719 | |||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 7 | $ | 7 | $ | - | $ | 7 | |||||||||||||||||||||
Total Consumer | $ | - | $ | - | $ | 7 | $ | 7 | $ | - | $ | 7 | |||||||||||||||||||||
Total | $ | - | $ | - | $ | 728 | $ | 728 | $ | 138 | $ | 866 | |||||||||||||||||||||
The following table sets forth the detail and delinquency status of loans receivable, by performing and non-performing loans at March 31, 2015. | |||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||
2015 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Performing Loans | Total Non-Accrual Loans | Total Loans | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Pass | $ | 40 | $ | - | $ | - | $ | 40 | $ | 46,732 | $ | 46,772 | $ | - | $ | 46,772 | |||||||||||||||||
Special Mention | - | - | - | - | 113 | 113 | - | 113 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 5,591 | 5,591 | - | 5,591 | |||||||||||||||||||||||||
Total Commercial | $ | 40 | $ | - | $ | - | $ | 40 | $ | 52,436 | $ | 52,476 | $ | - | $ | 52,476 | |||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 271,956 | $ | 271,956 | $ | - | $ | 271,956 | |||||||||||||||||
Special Mention | 1,032 | - | - | 1,032 | 5,986 | 7,018 | - | 7,018 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 2,278 | 2,278 | 135 | 2,413 | |||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,032 | $ | - | $ | - | $ | 1,032 | $ | 280,220 | $ | 281,252 | $ | 135 | $ | 281,387 | |||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 7,024 | $ | 7,024 | $ | - | $ | 7,024 | |||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | 7,024 | $ | 7,024 | $ | - | $ | 7,024 | |||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 9,988 | $ | 9,988 | $ | - | $ | 9,988 | |||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 9,988 | $ | 9,988 | $ | - | $ | 9,988 | |||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | 30 | $ | 178 | $ | 1,537 | $ | 1,745 | $ | 100,396 | $ | 102,141 | $ | - | $ | 102,141 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 380 | 380 | |||||||||||||||||||||||||
Total Residential Real Estate | $ | 30 | $ | 178 | $ | 1,537 | $ | 1,745 | $ | 100,396 | $ | 102,141 | $ | 380 | $ | 102,521 | |||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Pass | $ | 4 | $ | 99 | $ | - | $ | 103 | $ | 45,860 | $ | 45,963 | $ | - | $ | 45,963 | |||||||||||||||||
Total Consumer | $ | 4 | $ | 99 | $ | - | $ | 103 | $ | 45,860 | $ | 45,963 | $ | - | $ | 45,963 | |||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Pass | $ | 74 | $ | 277 | $ | 1,537 | $ | 1,888 | $ | 481,956 | $ | 483,844 | $ | - | $ | 483,844 | |||||||||||||||||
Special Mention | 1,032 | - | - | 1,032 | 6,099 | 7,131 | - | 7,131 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 7,869 | 7,869 | 515 | 8,384 | |||||||||||||||||||||||||
Grand Total | $ | 1,106 | $ | 277 | $ | 1,537 | $ | 2,920 | $ | 495,924 | $ | 498,844 | $ | 515 | $ | 499,359 | |||||||||||||||||
The following table sets forth the detail and delinquency status of loans receivable, by performing and non-performing loans at December 31, 2014. | |||||||||||||||||||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||
2014 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Performing Loans | Total Non-Accrual Loans | Total Loans | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Pass | $ | 1,520 | $ | - | $ | 279 | $ | 1,799 | $ | 46,279 | $ | 48,078 | $ | - | $ | 48,078 | |||||||||||||||||
Special Mention | - | - | - | - | 121 | 121 | - | 121 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 5,772 | 5,772 | 2 | 5,774 | |||||||||||||||||||||||||
Total Commercial | $ | 1,520 | $ | - | $ | 279 | $ | 1,799 | $ | 52,172 | $ | 53,971 | $ | 2 | $ | 53,973 | |||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 248,132 | $ | 248,132 | $ | - | $ | 248,132 | |||||||||||||||||
Special Mention | 1,041 | - | - | 1,041 | 2,887 | 3,928 | - | 3,928 | |||||||||||||||||||||||||
Substandard | - | 815 | - | 815 | 1,492 | 2,307 | 138 | 2,445 | |||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,041 | $ | 815 | $ | - | $ | 1,856 | $ | 252,511 | $ | 254,367 | $ | 138 | $ | 254,505 | |||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 3,096 | $ | 3,096 | $ | - | $ | 3,096 | |||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | 3,096 | $ | 3,096 | $ | - | $ | 3,096 | |||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 10,627 | $ | 10,627 | $ | - | $ | 10,627 | |||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 10,627 | $ | 10,627 | $ | - | $ | 10,627 | |||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | 172 | $ | 87 | $ | 1,553 | $ | 1,812 | $ | 106,012 | $ | 107,824 | $ | - | $ | 107,824 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 719 | 719 | |||||||||||||||||||||||||
Total Residential Real Estate | $ | 172 | $ | 87 | $ | 1,553 | $ | 1,812 | $ | 106,012 | $ | 107,824 | $ | 719 | $ | 108,543 | |||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | 2 | $ | - | $ | 2 | $ | 46,155 | $ | 46,157 | $ | - | $ | 46,157 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 7 | 7 | |||||||||||||||||||||||||
Total Consumer | $ | - | $ | 2 | $ | - | $ | 2 | $ | 46,155 | $ | 46,157 | $ | 7 | $ | 46,164 | |||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Pass | $ | 1,692 | $ | 89 | $ | 1,832 | $ | 3,613 | $ | 460,301 | $ | 463,914 | $ | - | $ | 463,914 | |||||||||||||||||
Special Mention | 1,041 | - | - | 1,041 | 3,008 | 4,049 | - | 4,049 | |||||||||||||||||||||||||
Substandard | - | 815 | - | 815 | 7,264 | 8,079 | 866 | 8,945 | |||||||||||||||||||||||||
Grand Total | $ | 2,733 | $ | 904 | $ | 1,832 | $ | 5,469 | $ | 470,573 | $ | 476,042 | $ | 866 | $ | 476,908 | |||||||||||||||||
Impaired loans consist of non-accrual loans, TDRs, and loans previously classified as TDRs that have been upgraded. The recorded investment of impaired loans at March 31, 2015 and December 31, 2014 was $12.2 million and $11.7 million, with related allowances of $0 and $7,000 respectively. | |||||||||||||||||||||||||||||||||
The following table summarizes impaired loans by loan portfolio class as of March 31, 2015 | |||||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | 101 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 8,272 | 9,113 | - | ||||||||||||||||||||||||||||||
Construction | - | 287 | - | ||||||||||||||||||||||||||||||
Residential | 3,406 | 3,433 | - | ||||||||||||||||||||||||||||||
Consumer | 552 | 639 | - | ||||||||||||||||||||||||||||||
Total: | $ | 12,230 | $ | 13,573 | $ | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | - | - | - | ||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||
Residential | - | - | - | ||||||||||||||||||||||||||||||
Consumer | - | - | - | ||||||||||||||||||||||||||||||
Total: | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial | $ | - | $ | 101 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 8,272 | 9,113 | - | ||||||||||||||||||||||||||||||
Construction | - | 287 | - | ||||||||||||||||||||||||||||||
Residential | 3,406 | 3,433 | - | ||||||||||||||||||||||||||||||
Consumer | 552 | 639 | - | ||||||||||||||||||||||||||||||
Total: | $ | 12,230 | $ | 13,573 | $ | - | |||||||||||||||||||||||||||
The following table summarizes impaired loans by loan portfolio class as of December 31, 2014 | |||||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 104 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 7,398 | 8,249 | - | ||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||
Residential | 3,764 | 3,793 | - | ||||||||||||||||||||||||||||||
Consumer | 553 | 633 | - | ||||||||||||||||||||||||||||||
Total: | $ | 11,717 | $ | 13,511 | $ | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | - | - | - | ||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||
Residential | - | - | - | ||||||||||||||||||||||||||||||
Consumer | 7 | 7 | 7 | ||||||||||||||||||||||||||||||
Total: | $ | 7 | $ | 7 | $ | 7 | |||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 104 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 7,398 | 8,249 | - | ||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||
Residential | 3,764 | 3,793 | - | ||||||||||||||||||||||||||||||
Consumer | 560 | 640 | 7 | ||||||||||||||||||||||||||||||
Total: | $ | 11,724 | $ | 13,518 | $ | 7 | |||||||||||||||||||||||||||
Included in the tables above at March 31, 2015 and December 31, 2014 are loans with carrying balances of $12.2 million and $11.7 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. | |||||||||||||||||||||||||||||||||
The following table summarizes additional information regarding impaired loans for three months ended March 31, 2015 and 2014. | |||||||||||||||||||||||||||||||||
Three Months Ended March 31 | |||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
(in thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1 | $ | - | $ | 2 | 86 | ||||||||||||||||||||||||||
Commercial Real Estate | 8,296 | 95 | 7,941 | 72 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||||||||||
Construction to Permanent | - | - | 788 | - | |||||||||||||||||||||||||||||
Residential | 3,525 | 32 | 4,821 | 32 | |||||||||||||||||||||||||||||
Consumer | 552 | 4 | 588 | 9 | |||||||||||||||||||||||||||||
Total: | $ | 12,374 | $ | 131 | $ | 14,140 | $ | 199 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 6,078 | $ | - | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 158 | - | |||||||||||||||||||||||||||||
Construction | - | - | 260 | - | |||||||||||||||||||||||||||||
Residential | - | - | 662 | - | |||||||||||||||||||||||||||||
Consumer | 2 | - | 2 | - | |||||||||||||||||||||||||||||
Total: | $ | 2 | $ | - | $ | 7,160 | |||||||||||||||||||||||||||
Commercial | $ | 1 | $ | - | $ | 6,080 | $ | 86 | |||||||||||||||||||||||||
Commercial Real Estate | 8,296 | 95 | 8,099 | 72 | |||||||||||||||||||||||||||||
Construction | - | - | 260 | - | |||||||||||||||||||||||||||||
Residential | 3,525 | 32 | 5,483 | 32 | |||||||||||||||||||||||||||||
Consumer | 554 | 4 | 590 | 9 | |||||||||||||||||||||||||||||
Total: | $ | 12,376 | $ | 131 | $ | 21,300 | $ | 199 | |||||||||||||||||||||||||
No loans were modified in troubled debt restructurings during the three months ended March 31, 2015. | |||||||||||||||||||||||||||||||||
Notes to consolidated financial statements (Unaudited) | |||||||||||||||||||||||||||||||||
Substantially all of our troubled debt restructured loan modifications involve lowering the monthly payments on such loans through either a reduction in interest rate below market 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 frequently 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 (generally six consecutive months of payments) and both principal and interest are deemed collectible. All troubled debt restructurings are classified as impaired loans, which are individually evaluated for impairment. |
Note_4_Deposits
Note 4 - Deposits | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Deposit Liabilities Disclosures [Text Block] | Note 4: Deposits | ||||||||
The following table is a summary of the Company’s deposits at: | |||||||||
March 31, | December 31, | ||||||||
(in thousands) | 2015 | 2014 | |||||||
Non-interest bearing | $ | 70,331 | $ | 63,398 | |||||
Interest bearing | |||||||||
NOW | 26,673 | 26,269 | |||||||
Savings | 96,846 | 93,790 | |||||||
Money market | 23,824 | 24,650 | |||||||
Time certificates, less than $100,000 | 99,691 | 106,340 | |||||||
Time certificates, $100,000 or more | 91,533 | 97,876 | |||||||
Brokered Deposits | 48,209 | 30,710 | |||||||
Total interest bearing | 386,776 | 379,635 | |||||||
Total Deposits | $ | 457,107 | $ | 443,033 | |||||
Note_5_ShareBased_Compensation
Note 5 - Share-Based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 March 31, 2015, 2,878,805 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 generally vest in annual installments over a three, four or five year period from the date of grant. The Company is expensing the grant date fair value of all share-based compensation over the requisite vesting periods on a prorated straight-line basis. | |||||||||
During the three months ended March 31, 2015 and March 31, 2014, the Company recorded $114,000 and $59,000 of total stock-based compensation, respectively. During the three months ended March 31, 2015, there were 2,940 shares granted under the 2012 Stock Plan. | |||||||||
The following is a summary of the status of the Company’s restricted shares as of March 31, 2015, and changes therein during the period then ended. | |||||||||
Number of Shares Awarded (1) | Weighted Average Grant Date Fair Value (1) | ||||||||
Non-vested at December 31, 2014 | 79,208 | $ | 12.79 | ||||||
Granted | 2,940 | 17 | |||||||
Vested | (225 | ) | 17.25 | ||||||
Non-vested at March 31, 2015 | 81,923 | $ | 12.93 | ||||||
(1) All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. | |||||||||
Expected future stock award expense related to the non-vested restricted awards as of March 31, 2015, is $988,000 over an average period of 2.66 years. | |||||||||
The Company had no outstanding stock options at March 31, 2015. |
Note_6_Income_Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 6: Income Taxes |
For the three month period ended March 31, 2015, the bank recorded income tax expense of approximately $201,000. This compares to no income tax benefit or expense for the three month period ended March 31, 2014. Bancorp began to recognize income tax expense in the quarter ended December 31, 2014 after the reversal of $16.8 million of its deferred tax asset valuation allowance in the third quarter of 2014. | |
Deferred tax assets decreased $0.3 million from $14.9 million at December 31, 2014 to $14.6 million at March 31, 2015. This decrease was primarily due to deferred taxes being applied to the tax liability on current year taxable income, in addition to a reduction due to unrealized security gains. | |
The Bank will continue to evaluate its ability to realize its net deferred tax asset. If future evidence suggests that it is more likely than not that a portion of the deferred tax asset will not be realized, the valuation allowance may be increased. |
Note_7_Income_Per_Share
Note 7 - Income Per Share | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | Note 7: Income 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 and the Company had no outstanding stock options. The following is information about the computation of income per share for the three months ended March 31, 2015 and 2014: | |||||||||||||
Three months ended March 31, 2015 | Net Income | Weighted Average Common Shares Outstanding (1) | Amount (1) | ||||||||||
Basic Earnings Per Share | $ | 289,000 | 3,871,849 | $ | 0.07 | ||||||||
Effect of Dilutive Securities | |||||||||||||
Non-vested Restricted Stock Grants | N/A | 81,923 | N/A | ||||||||||
Diluted Earnings Per Share | $ | 289,000 | 3,953,772 | $ | 0.07 | ||||||||
Three months ended March 31, 2014 | Net Income | Weighted Average Common Shares Outstanding (1) | Amount (1) | ||||||||||
Basic Earnings Per Share | $ | 319,000 | 3,849,318 | $ | 0.08 | ||||||||
Effect of Dilutive Securities | |||||||||||||
Non-vested Restricted Stock Grants | N/A | 62,488 | N/A | ||||||||||
Diluted Earnings Per Share | $ | 319,000 | 3,911,806 | $ | 0.08 | ||||||||
(1) All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Note_8_Other_Comprehensive_Inc
Note 8 - Other Comprehensive Income | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
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 | |||||||||||||
March 31, 2015 | |||||||||||||
Before Tax | Net of Tax | ||||||||||||
(in thousands) | Amount | Tax Effect | Amount | ||||||||||
Unrealized holding gains arising during the period | $ | 267 | $ | -104 | $ | 163 | |||||||
Three Months Ended | |||||||||||||
March 31, 2014 | |||||||||||||
Before Tax | Net of Tax | ||||||||||||
Amount | Tax Effect | Amount | |||||||||||
Unrealized holding gains arising during the period | $ | 393 | $ | - | $ | 393 | |||||||
Note_9_Financial_Instruments_w
Note 9 - Financial Instruments with Off-Balance Sheet Risk | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
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 approving 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 March 31, 2015 are as follows: | |||||
Commitments to extend credit: | (in thousands) | ||||
Future loan commitments | $ | 9,629 | |||
Home equity lines of credit | 24,783 | ||||
Unused lines of credit | 24,117 | ||||
Undisbursed construction loans | 8,244 | ||||
Financial standby letters of credit | 1,125 | ||||
$ | 67,898 | ||||
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 customer. Collateral held varies, but may include residential and commercial property, deposits and securities. The bank has established a reserve of $5,000 as of March 31, 2015 for these commitments which are included in accrued expenses and other liabilities. | |||||
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 | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 10: Regulatory and Operational Matters | ||||||||||||||||||||||||
The Company’s and the Bank’s capital and capital ratios at March 31, 2015 and December 31, 2014 were: | |||||||||||||||||||||||||
Capital Requirements | |||||||||||||||||||||||||
Actual | Minimum | Well Capitalized | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 57,129 | 9.23 | % | $ | 24,753 | 4 | % | $ | 30,941 | 5 | % | |||||||||||||
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 49,129 | 10.03 | % | 22,044 | 4.5 | % | 31,842 | 6.5 | % | ||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,129 | 11.66 | % | 29,393 | 6 | % | 39,190 | 8 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 62,322 | 12.72 | % | 39,190 | 8 | % | 48,988 | 10 | % | ||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 57,221 | 9.25 | % | $ | 24,746 | 4 | % | $ | 30,932 | 5 | % | |||||||||||||
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 57,221 | 11.69 | % | 22,033 | 4.5 | % | 31,826 | 6.5 | % | ||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,221 | 11.69 | % | 29,378 | 6 | % | 39,170 | 8 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 62,414 | 12.75 | % | 39,170 | 8 | % | 48,963 | 10 | % | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 58,218 | 9.62 | % | $ | 24,210 | 4 | % | $ | 30,262 | 5 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 58,218 | 12.98 | % | 17,942 | 4 | % | 26,913 | 6 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 63,142 | 14.08 | % | 35,884 | 8 | % | 44,855 | 10 | % | ||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 58,227 | 9.63 | % | $ | 24,198 | 4 | % | $ | 30,247 | 5 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 58,227 | 12.98 | % | 17,946 | 4 | % | 26,918 | 6 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 63,151 | 14.08 | % | 35,891 | 8 | % | 44,864 | 10 | % | ||||||||||||||||
Note_11_Fair_Value_and_Interes
Note 11 - Fair Value and Interest Rate Risk | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
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 March 31, 2015 and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine fair value: | ||||||||||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
(in thousands) | Active Markets | Observable | Unobservable | Balance | ||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Mar-15 | (Level 1) | (Level 2) | (Level 3) | 31-Mar-15 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 16,276 | $ | - | $ | 16,276 | ||||||||||
U.S. Government agency bonds | - | 7,496 | - | 7,496 | ||||||||||||||
Corporate bonds | - | 8,966 | - | 8,966 | ||||||||||||||
Securities available for sale | $ | - | $ | 32,738 | $ | - | $ | 32,738 | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Dec-14 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-14 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 17,337 | $ | - | $ | 17,337 | ||||||||||
U.S. Government agency bonds | - | 7,409 | - | 7,409 | ||||||||||||||
Corporate bonds | - | 8,936 | - | 8,936 | ||||||||||||||
Securities available for sale | $ | - | $ | 33,682 | $ | - | $ | 33,682 | ||||||||||
There were no transfers of assets between levels 1, 2 or 3 as of March 31, 2015 or December 31, 2014. 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 March 31, 2015 and December 31, 2014, 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) | ||||||||||||||||
31-Mar-15 | ||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 535 | $ | 535 | ||||||||||
31-Dec-14 | ||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 859 | $ | 859 | ||||||||||
(in thousands) | Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
Asset Description | Fair Value | Valuation | Unobservable | Range | ||||||||||||||
Technique | Input | (Weighted Average) | ||||||||||||||||
31-Mar-15 | ||||||||||||||||||
Impaired loans | $ | 535 | Fair Value of Collateral (1) | Appraised Value (2) | 14%-23% | (16%) | (3) | |||||||||||
31-Dec-14 | ||||||||||||||||||
Impaired loans | $ | 859 | Fair Value of Collateral (1) | Appraised Value (2) | 8%-22% | (13%) | (3) | |||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which include Level 3 inputs that are not identifiable. | |||||||||||||||||
-2 | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | |||||||||||||||||
-3 | The range and weighted average of qualitative factors such as economic conditions and estimated liquidation expenses are presented as a percent of the appraised value. | |||||||||||||||||
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 March 31, 2015 and December 31, 2014 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 March 31, 2015 and December 31, 2014: | ||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||
(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 | $ | 2,080 | $ | 2,080 | $ | 2,095 | $ | 2,095 | |||||||||
Interest-bearing deposits due from banks | Level 1 | 63,878 | 63,878 | 71,163 | 71,163 | |||||||||||||
Other investments | Level 2 | 4,450 | 4,450 | 4,450 | 4,450 | |||||||||||||
Federal Reserve Bank stock | Level 2 | 2,020 | 2,020 | 2,058 | 2,058 | |||||||||||||
Federal Home Loan Bank stock | Level 2 | 6,628 | 6,628 | 6,628 | 6,628 | |||||||||||||
Loans receivable, net | Level 3 | 494,166 | 499,383 | 471,984 | 476,631 | |||||||||||||
Accrued interest receivable | Level 1 | 1,974 | 1,974 | 1,918 | 1,918 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Demand deposits | Level 1 | $ | 70,331 | $ | 70,331 | $ | 63,398 | $ | 63,398 | |||||||||
Savings deposits | Level 1 | 96,846 | 96,846 | 93,790 | 93,790 | |||||||||||||
Money market deposits | Level 1 | 23,824 | 23,824 | 24,650 | 24,650 | |||||||||||||
NOW accounts | Level 1 | 26,673 | 26,673 | 26,269 | 26,269 | |||||||||||||
Time deposits | Level 2 | 191,224 | 191,331 | 204,216 | 204,262 | |||||||||||||
Brokered Deposits | Level 1 | 48,209 | 48,209 | 30,710 | 30,710 | |||||||||||||
FHLB Borrowings | Level 2 | 120,000 | 120,000 | 120,000 | 120,000 | |||||||||||||
Subordinated debentures | Level 2 | 8,248 | 8,248 | 8,248 | 8,248 | |||||||||||||
Accrued interest payable | Level 1 | 251 | 251 | 167 | 167 | |||||||||||||
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 possible to mitigate 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 March 31, 2015 and December 31, 2014. The estimated fair value of fee income on letters of credit at March 31, 2015 and December 31, 2014 was also insignificant. |
Note_12_Recent_Accounting_Pron
Note 12 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Table Text Block [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Note 12: Recent Accounting Pronouncements |
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 application of this guidance did not 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 application of this guidance did not 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 application of this guidance did not have a material impact on the Company's consolidated financial statements. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | 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 application of this guidance did not 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 application of this guidance did not 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 application of this guidance did not have a material impact on the Company's consolidated financial statements. |
Note_2_Investment_Securities_T
Note 2 - Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | Gross | ||||||||||||||||||||||||
(in thousands) | Amortized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Losses | Value | |||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. Government agency bonds | $ | 7,500 | $ | (4 | ) | $ | 7,496 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 16,424 | (148 | ) | 16,276 | |||||||||||||||||||||
Corporate bonds | 9,000 | (34 | ) | 8,966 | |||||||||||||||||||||
$ | 32,924 | $ | (186 | ) | $ | 32,738 | |||||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | 7,500 | $ | (91 | ) | $ | 7,409 | ||||||||||||||||||
U. S. Government agency mortgage-backed securities | 17,635 | (298 | ) | 17,337 | |||||||||||||||||||||
Corporate bonds | 9,000 | (64 | ) | 8,936 | |||||||||||||||||||||
$ | 34,135 | $ | (453 | ) | $ | 33,682 | |||||||||||||||||||
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 | ||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
U.S. Government agency bonds | $ | 4,996 | $ | (4 | ) | $ | - | $ | - | $ | 4,996 | $ | (4 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | 3,460 | (11 | ) | 12,816 | (137 | ) | 16,276 | (148 | ) | ||||||||||||||||
Corporate bonds | - | - | 8,966 | (34 | ) | 8,966 | (34 | ) | |||||||||||||||||
Totals | $ | 8,456 | $ | (15 | ) | $ | 21,782 | $ | (171 | ) | $ | 30,238 | $ | (186 | ) | ||||||||||
December 31, 2014: | |||||||||||||||||||||||||
U. S. Government agency bonds | $ | - | $ | - | $ | 7,409 | $ | (91 | ) | $ | 7,409 | $ | (91 | ) | |||||||||||
U. S. Government agency mortgage - backed securities | - | - | 17,337 | (298 | ) | 17,337 | (298 | ) | |||||||||||||||||
Corporate bonds | - | - | 8,936 | (64 | ) | 8,936 | (64 | ) | |||||||||||||||||
Totals | $ | - | $ | - | $ | 33,682 | $ | (453 | ) | $ | 33,682 | $ | (453 | ) | |||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | Gross | ||||||||||||||||||||||||
(in thousands) | Unrealized | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Losses | |||||||||||||||||||||||
Maturity: | |||||||||||||||||||||||||
Corporate bonds 5 to 10 years | $ | 9,000 | $ | 8,966 | $ | (34 | ) | ||||||||||||||||||
U.S. Government agency bonds < 5 years | 2,500 | 2,500 | - | ||||||||||||||||||||||
U.S. Government agency bonds 5 to 10 years | 5,000 | 4,996 | (4 | ) | |||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 16,424 | 16,276 | (148 | ) | |||||||||||||||||||||
Total | $ | 32,924 | $ | 32,738 | $ | (186 | ) |
Note_3_Loans_Receivable_and_Al1
Note 3 - Loans Receivable and Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (in thousands) | March 31, | December 31, | ||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Commercial | $ | 52,476 | $ | 53,973 | |||||||||||||||||||||||||||||
Commercial Real Estate | 281,387 | 254,505 | |||||||||||||||||||||||||||||||
Construction | 7,024 | 3,096 | |||||||||||||||||||||||||||||||
Construction to permanent | 9,988 | 10,627 | |||||||||||||||||||||||||||||||
Residential | 102,521 | 108,543 | |||||||||||||||||||||||||||||||
Consumer | 45,963 | 46,164 | |||||||||||||||||||||||||||||||
Total Loans | 499,359 | 476,908 | |||||||||||||||||||||||||||||||
Allowance for loan losses | (5,193 | ) | (4,924 | ) | |||||||||||||||||||||||||||||
Loans receivable, net | $ | 494,166 | $ | 471,984 | |||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (in thousands) | ||||||||||||||||||||||||||||||||
Three months ended March 31, 2015 | Commercial | Commercial Real Estate | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||
to Permanent | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 1,918 | $ | 1,419 | $ | 63 | $ | 215 | $ | 831 | $ | 478 | $ | - | $ | 4,924 | |||||||||||||||||
Charge-offs | - | - | - | - | (3 | ) | (7 | ) | - | (10 | ) | ||||||||||||||||||||||
Recoveries | 16 | - | - | 5 | - | 8 | - | 29 | |||||||||||||||||||||||||
Provision | (637 | ) | 605 | 159 | (29 | ) | (98 | ) | 232 | 18 | 250 | ||||||||||||||||||||||
Ending Balance | $ | 1,297 | $ | 2,024 | $ | 222 | $ | 191 | $ | 730 | $ | 711 | $ | 18 | $ | 5,193 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,297 | 2,024 | 222 | 191 | 730 | 711 | 18 | 5,193 | |||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,297 | $ | 2,024 | $ | 222 | $ | 191 | $ | 730 | $ | 711 | $ | 18 | $ | 5,193 | |||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 52,476 | $ | 281,387 | $ | 7,024 | $ | 9,988 | $ | 102,521 | $ | 45,963 | $ | - | $ | 499,359 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | 8,272 | $ | - | $ | - | $ | 3,406 | $ | 552 | $ | - | $ | 12,230 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 52,476 | $ | 273,115 | $ | 7,024 | $ | 9,988 | $ | 99,115 | $ | 45,411 | $ | - | $ | 487,129 | |||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Three months ended March 31, 2014 | Commercial | Commercial Real Estate | Construction | Construction | Residential | Consumer | Unallocated | Total | |||||||||||||||||||||||||
to Permanent | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Beginning Balance | $ | 2,285 | $ | 1,585 | $ | 260 | $ | 25 | $ | 795 | $ | 534 | $ | 197 | $ | 5,681 | |||||||||||||||||
Charge-offs | (9 | ) | - | - | - | (178 | ) | (30 | ) | - | (217 | ) | |||||||||||||||||||||
Recoveries | - | - | - | - | 15 | 1 | - | 16 | |||||||||||||||||||||||||
Provision | 95 | (265 | ) | - | 9 | 72 | 34 | 55 | $ | - | |||||||||||||||||||||||
Ending Balance | $ | 2,371 | $ | 1,320 | $ | 260 | $ | 34 | $ | 704 | $ | 539 | $ | 252 | $ | 5,480 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 1,500 | $ | 17 | $ | 260 | $ | - | $ | 21 | $ | 2 | $ | - | $ | 1,800 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | 871 | 1,303 | - | 34 | 683 | 537 | 252 | 3,680 | |||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 2,371 | $ | 1,320 | $ | 260 | $ | 34 | $ | 704 | $ | 539 | $ | 252 | $ | 5,480 | |||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||||
Total Loans ending balance | $ | 38,838 | $ | 217,674 | $ | 260 | $ | 12,718 | $ | 103,766 | $ | 47,347 | $ | - | $ | 420,603 | |||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,052 | $ | 8,855 | $ | 260 | $ | - | $ | 5,192 | $ | 588 | $ | - | $ | 20,947 | |||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 32,786 | $ | 208,819 | $ | - | $ | 12,718 | $ | 98,574 | $ | 46,759 | $ | - | $ | 399,656 | |||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
31-Dec-14 | Commercial | Commercial Real Estate | Construction | Construction to Permanent | Residential | Consumer | Total | ||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 7 | $ | 7 | |||||||||||||||||||
Ending balance: collectively evaluated for impairment | 1,918 | 1,419 | 63 | 215 | 831 | 471 | 4,917 | ||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,918 | $ | 1,419 | $ | 63 | $ | 215 | $ | 831 | $ | 478 | $ | 4,924 | |||||||||||||||||||
Total Loans ending balance | $ | 53,973 | $ | 254,505 | $ | 3,096 | $ | 10,627 | $ | 108,543 | $ | 46,164 | $ | 476,908 | |||||||||||||||||||
Ending balance: individually evaluated for impairment | 2 | 7,398 | - | - | 3,764 | 560 | 11,724 | ||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 53,971 | $ | 247,107 | $ | 3,096 | $ | 10,627 | $ | 104,779 | $ | 45,604 | $ | 465,184 | |||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (in thousands) | Non-Accrual Loans | |||||||||||||||||||||||||||||||
2015 | 31-60 Days | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Non-Accrual Loans | |||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||
Commercial Real Estate Substandard | $ | - | $ | - | $ | - | $ | - | $ | 135 | $ | 135 | |||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 135 | $ | 135 | |||||||||||||||||||||
Residential Real Estate Substandard | $ | - | $ | - | $ | 380 | $ | 380 | $ | - | $ | 380 | |||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 380 | $ | 380 | $ | - | $ | 380 | |||||||||||||||||||||
Total | $ | - | $ | - | $ | 380 | $ | 380 | $ | 135 | $ | 515 | |||||||||||||||||||||
(in thousands) | Non-Accrual Loans | ||||||||||||||||||||||||||||||||
2014 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Non-Accrual Loans | |||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 2 | $ | 2 | $ | - | $ | 2 | |||||||||||||||||||||
Total Commercial | $ | - | $ | - | $ | 2 | $ | 2 | $ | - | $ | 2 | |||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | - | $ | - | $ | 138 | $ | 138 | |||||||||||||||||||||
Total Commercial Real Estate | $ | - | $ | - | $ | - | $ | - | $ | 138 | $ | 138 | |||||||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 719 | $ | 719 | $ | - | $ | 719 | |||||||||||||||||||||
Total Residential Real Estate | $ | - | $ | - | $ | 719 | $ | 719 | $ | - | $ | 719 | |||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Substandard | $ | - | $ | - | $ | 7 | $ | 7 | $ | - | $ | 7 | |||||||||||||||||||||
Total Consumer | $ | - | $ | - | $ | 7 | $ | 7 | $ | - | $ | 7 | |||||||||||||||||||||
Total | $ | - | $ | - | $ | 728 | $ | 728 | $ | 138 | $ | 866 | |||||||||||||||||||||
Schedule of Financing Receivables Performing and Non-Accrual Status [Table Text Block] | (in thousands) | Performing (Accruing) Loans | |||||||||||||||||||||||||||||||
2015 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Performing Loans | Total Non-Accrual Loans | Total Loans | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Pass | $ | 40 | $ | - | $ | - | $ | 40 | $ | 46,732 | $ | 46,772 | $ | - | $ | 46,772 | |||||||||||||||||
Special Mention | - | - | - | - | 113 | 113 | - | 113 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 5,591 | 5,591 | - | 5,591 | |||||||||||||||||||||||||
Total Commercial | $ | 40 | $ | - | $ | - | $ | 40 | $ | 52,436 | $ | 52,476 | $ | - | $ | 52,476 | |||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 271,956 | $ | 271,956 | $ | - | $ | 271,956 | |||||||||||||||||
Special Mention | 1,032 | - | - | 1,032 | 5,986 | 7,018 | - | 7,018 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 2,278 | 2,278 | 135 | 2,413 | |||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,032 | $ | - | $ | - | $ | 1,032 | $ | 280,220 | $ | 281,252 | $ | 135 | $ | 281,387 | |||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 7,024 | $ | 7,024 | $ | - | $ | 7,024 | |||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | 7,024 | $ | 7,024 | $ | - | $ | 7,024 | |||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 9,988 | $ | 9,988 | $ | - | $ | 9,988 | |||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 9,988 | $ | 9,988 | $ | - | $ | 9,988 | |||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | 30 | $ | 178 | $ | 1,537 | $ | 1,745 | $ | 100,396 | $ | 102,141 | $ | - | $ | 102,141 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 380 | 380 | |||||||||||||||||||||||||
Total Residential Real Estate | $ | 30 | $ | 178 | $ | 1,537 | $ | 1,745 | $ | 100,396 | $ | 102,141 | $ | 380 | $ | 102,521 | |||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Pass | $ | 4 | $ | 99 | $ | - | $ | 103 | $ | 45,860 | $ | 45,963 | $ | - | $ | 45,963 | |||||||||||||||||
Total Consumer | $ | 4 | $ | 99 | $ | - | $ | 103 | $ | 45,860 | $ | 45,963 | $ | - | $ | 45,963 | |||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Pass | $ | 74 | $ | 277 | $ | 1,537 | $ | 1,888 | $ | 481,956 | $ | 483,844 | $ | - | $ | 483,844 | |||||||||||||||||
Special Mention | 1,032 | - | - | 1,032 | 6,099 | 7,131 | - | 7,131 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 7,869 | 7,869 | 515 | 8,384 | |||||||||||||||||||||||||
Grand Total | $ | 1,106 | $ | 277 | $ | 1,537 | $ | 2,920 | $ | 495,924 | $ | 498,844 | $ | 515 | $ | 499,359 | |||||||||||||||||
(in thousands) | Performing (Accruing) Loans | ||||||||||||||||||||||||||||||||
2014 | 31-60 Days Past Due | 61-90 Days Past Due | Greater Than 90 Days | Total Past Due | Current | Total Performing Loans | Total Non-Accrual Loans | Total Loans | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Pass | $ | 1,520 | $ | - | $ | 279 | $ | 1,799 | $ | 46,279 | $ | 48,078 | $ | - | $ | 48,078 | |||||||||||||||||
Special Mention | - | - | - | - | 121 | 121 | - | 121 | |||||||||||||||||||||||||
Substandard | - | - | - | - | 5,772 | 5,772 | 2 | 5,774 | |||||||||||||||||||||||||
Total Commercial | $ | 1,520 | $ | - | $ | 279 | $ | 1,799 | $ | 52,172 | $ | 53,971 | $ | 2 | $ | 53,973 | |||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 248,132 | $ | 248,132 | $ | - | $ | 248,132 | |||||||||||||||||
Special Mention | 1,041 | - | - | 1,041 | 2,887 | 3,928 | - | 3,928 | |||||||||||||||||||||||||
Substandard | - | 815 | - | 815 | 1,492 | 2,307 | 138 | 2,445 | |||||||||||||||||||||||||
Total Commercial Real Estate | $ | 1,041 | $ | 815 | $ | - | $ | 1,856 | $ | 252,511 | $ | 254,367 | $ | 138 | $ | 254,505 | |||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 3,096 | $ | 3,096 | $ | - | $ | 3,096 | |||||||||||||||||
Total Construction | $ | - | $ | - | $ | - | $ | - | $ | 3,096 | $ | 3,096 | $ | - | $ | 3,096 | |||||||||||||||||
Construction to Permanent | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | - | $ | - | $ | - | $ | 10,627 | $ | 10,627 | $ | - | $ | 10,627 | |||||||||||||||||
Total Construction to Permanent | $ | - | $ | - | $ | - | $ | - | $ | 10,627 | $ | 10,627 | $ | - | $ | 10,627 | |||||||||||||||||
Residential Real Estate | |||||||||||||||||||||||||||||||||
Pass | $ | 172 | $ | 87 | $ | 1,553 | $ | 1,812 | $ | 106,012 | $ | 107,824 | $ | - | $ | 107,824 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 719 | 719 | |||||||||||||||||||||||||
Total Residential Real Estate | $ | 172 | $ | 87 | $ | 1,553 | $ | 1,812 | $ | 106,012 | $ | 107,824 | $ | 719 | $ | 108,543 | |||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Pass | $ | - | $ | 2 | $ | - | $ | 2 | $ | 46,155 | $ | 46,157 | $ | - | $ | 46,157 | |||||||||||||||||
Substandard | - | - | - | - | - | - | 7 | 7 | |||||||||||||||||||||||||
Total Consumer | $ | - | $ | 2 | $ | - | $ | 2 | $ | 46,155 | $ | 46,157 | $ | 7 | $ | 46,164 | |||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Pass | $ | 1,692 | $ | 89 | $ | 1,832 | $ | 3,613 | $ | 460,301 | $ | 463,914 | $ | - | $ | 463,914 | |||||||||||||||||
Special Mention | 1,041 | - | - | 1,041 | 3,008 | 4,049 | - | 4,049 | |||||||||||||||||||||||||
Substandard | - | 815 | - | 815 | 7,264 | 8,079 | 866 | 8,945 | |||||||||||||||||||||||||
Grand Total | $ | 2,733 | $ | 904 | $ | 1,832 | $ | 5,469 | $ | 470,573 | $ | 476,042 | $ | 866 | $ | 476,908 | |||||||||||||||||
Impaired Financing Receivables [Table Text Block] | (in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | 101 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 8,272 | 9,113 | - | ||||||||||||||||||||||||||||||
Construction | - | 287 | - | ||||||||||||||||||||||||||||||
Residential | 3,406 | 3,433 | - | ||||||||||||||||||||||||||||||
Consumer | 552 | 639 | - | ||||||||||||||||||||||||||||||
Total: | $ | 12,230 | $ | 13,573 | $ | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | - | - | - | ||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||
Residential | - | - | - | ||||||||||||||||||||||||||||||
Consumer | - | - | - | ||||||||||||||||||||||||||||||
Total: | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial | $ | - | $ | 101 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 8,272 | 9,113 | - | ||||||||||||||||||||||||||||||
Construction | - | 287 | - | ||||||||||||||||||||||||||||||
Residential | 3,406 | 3,433 | - | ||||||||||||||||||||||||||||||
Consumer | 552 | 639 | - | ||||||||||||||||||||||||||||||
Total: | $ | 12,230 | $ | 13,573 | $ | - | |||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 104 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 7,398 | 8,249 | - | ||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||
Residential | 3,764 | 3,793 | - | ||||||||||||||||||||||||||||||
Consumer | 553 | 633 | - | ||||||||||||||||||||||||||||||
Total: | $ | 11,717 | $ | 13,511 | $ | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | - | - | - | ||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||
Residential | - | - | - | ||||||||||||||||||||||||||||||
Consumer | 7 | 7 | 7 | ||||||||||||||||||||||||||||||
Total: | $ | 7 | $ | 7 | $ | 7 | |||||||||||||||||||||||||||
Commercial | $ | 2 | $ | 104 | $ | - | |||||||||||||||||||||||||||
Commercial Real Estate | 7,398 | 8,249 | - | ||||||||||||||||||||||||||||||
Construction | - | 732 | - | ||||||||||||||||||||||||||||||
Residential | 3,764 | 3,793 | - | ||||||||||||||||||||||||||||||
Consumer | 560 | 640 | 7 | ||||||||||||||||||||||||||||||
Total: | $ | 11,724 | $ | 13,518 | $ | 7 | |||||||||||||||||||||||||||
Three Months Ended March 31 | |||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
(in thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1 | $ | - | $ | 2 | 86 | ||||||||||||||||||||||||||
Commercial Real Estate | 8,296 | 95 | 7,941 | 72 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||||||||||
Construction to Permanent | - | - | 788 | - | |||||||||||||||||||||||||||||
Residential | 3,525 | 32 | 4,821 | 32 | |||||||||||||||||||||||||||||
Consumer | 552 | 4 | 588 | 9 | |||||||||||||||||||||||||||||
Total: | $ | 12,374 | $ | 131 | $ | 14,140 | $ | 199 | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 6,078 | $ | - | |||||||||||||||||||||||||
Commercial Real Estate | - | - | 158 | - | |||||||||||||||||||||||||||||
Construction | - | - | 260 | - | |||||||||||||||||||||||||||||
Residential | - | - | 662 | - | |||||||||||||||||||||||||||||
Consumer | 2 | - | 2 | - | |||||||||||||||||||||||||||||
Total: | $ | 2 | $ | - | $ | 7,160 | |||||||||||||||||||||||||||
Commercial | $ | 1 | $ | - | $ | 6,080 | $ | 86 | |||||||||||||||||||||||||
Commercial Real Estate | 8,296 | 95 | 8,099 | 72 | |||||||||||||||||||||||||||||
Construction | - | - | 260 | - | |||||||||||||||||||||||||||||
Residential | 3,525 | 32 | 5,483 | 32 | |||||||||||||||||||||||||||||
Consumer | 554 | 4 | 590 | 9 | |||||||||||||||||||||||||||||
Total: | $ | 12,376 | $ | 131 | $ | 21,300 | $ | 199 |
Note_4_Deposits_Tables
Note 4 - Deposits (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Schedule of Deposits [Table Text Block] | March 31, | December 31, | |||||||
(in thousands) | 2015 | 2014 | |||||||
Non-interest bearing | $ | 70,331 | $ | 63,398 | |||||
Interest bearing | |||||||||
NOW | 26,673 | 26,269 | |||||||
Savings | 96,846 | 93,790 | |||||||
Money market | 23,824 | 24,650 | |||||||
Time certificates, less than $100,000 | 99,691 | 106,340 | |||||||
Time certificates, $100,000 or more | 91,533 | 97,876 | |||||||
Brokered Deposits | 48,209 | 30,710 | |||||||
Total interest bearing | 386,776 | 379,635 | |||||||
Total Deposits | $ | 457,107 | $ | 443,033 |
Note_5_ShareBased_Compensation1
Note 5 - Share-Based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Awarded (1) | Weighted Average Grant Date Fair Value (1) | |||||||
Non-vested at December 31, 2014 | 79,208 | $ | 12.79 | ||||||
Granted | 2,940 | 17 | |||||||
Vested | (225 | ) | 17.25 | ||||||
Non-vested at March 31, 2015 | 81,923 | $ | 12.93 |
Note_7_Income_Per_Share_Tables
Note 7 - Income Per Share (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, 2015 | Net Income | Weighted Average Common Shares Outstanding (1) | Amount (1) | |||||||||
Basic Earnings Per Share | $ | 289,000 | 3,871,849 | $ | 0.07 | ||||||||
Effect of Dilutive Securities | |||||||||||||
Non-vested Restricted Stock Grants | N/A | 81,923 | N/A | ||||||||||
Diluted Earnings Per Share | $ | 289,000 | 3,953,772 | $ | 0.07 | ||||||||
Three months ended March 31, 2014 | Net Income | Weighted Average Common Shares Outstanding (1) | Amount (1) | ||||||||||
Basic Earnings Per Share | $ | 319,000 | 3,849,318 | $ | 0.08 | ||||||||
Effect of Dilutive Securities | |||||||||||||
Non-vested Restricted Stock Grants | N/A | 62,488 | N/A | ||||||||||
Diluted Earnings Per Share | $ | 319,000 | 3,911,806 | $ | 0.08 |
Note_8_Other_Comprehensive_Inc1
Note 8 - Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
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 | ||||||||||||
March 31, 2015 | |||||||||||||
Before Tax | Net of Tax | ||||||||||||
(in thousands) | Amount | Tax Effect | Amount | ||||||||||
Unrealized holding gains arising during the period | $ | 267 | $ | -104 | $ | 163 | |||||||
Three Months Ended | |||||||||||||
March 31, 2014 | |||||||||||||
Before Tax | Net of Tax | ||||||||||||
Amount | Tax Effect | Amount | |||||||||||
Unrealized holding gains arising during the period | $ | 393 | $ | - | $ | 393 |
Note_9_Financial_Instruments_w1
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Risks and Uncertainties [Abstract] | |||||
Schedule of Commitment to Extended Credit [Table Text Block] | Commitments to extend credit: | (in thousands) | |||
Future loan commitments | $ | 9,629 | |||
Home equity lines of credit | 24,783 | ||||
Unused lines of credit | 24,117 | ||||
Undisbursed construction loans | 8,244 | ||||
Financial standby letters of credit | 1,125 | ||||
$ | 67,898 |
Note_10_Regulatory_and_Operati1
Note 10 - Regulatory and Operational Matters (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Capital Requirements | ||||||||||||||||||||||||
Actual | Minimum | Well Capitalized | |||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 57,129 | 9.23 | % | $ | 24,753 | 4 | % | $ | 30,941 | 5 | % | |||||||||||||
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 49,129 | 10.03 | % | 22,044 | 4.5 | % | 31,842 | 6.5 | % | ||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,129 | 11.66 | % | 29,393 | 6 | % | 39,190 | 8 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 62,322 | 12.72 | % | 39,190 | 8 | % | 48,988 | 10 | % | ||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 57,221 | 9.25 | % | $ | 24,746 | 4 | % | $ | 30,932 | 5 | % | |||||||||||||
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 57,221 | 11.69 | % | 22,033 | 4.5 | % | 31,826 | 6.5 | % | ||||||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 57,221 | 11.69 | % | 29,378 | 6 | % | 39,170 | 8 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 62,414 | 12.75 | % | 39,170 | 8 | % | 48,963 | 10 | % | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
The Company: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 58,218 | 9.62 | % | $ | 24,210 | 4 | % | $ | 30,262 | 5 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 58,218 | 12.98 | % | 17,942 | 4 | % | 26,913 | 6 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 63,142 | 14.08 | % | 35,884 | 8 | % | 44,855 | 10 | % | ||||||||||||||||
The Bank: | |||||||||||||||||||||||||
Tier 1 Leverage Capital (to Average Assets) | $ | 58,227 | 9.63 | % | $ | 24,198 | 4 | % | $ | 30,247 | 5 | % | |||||||||||||
Tier 1 Capital (to Risk Weighted Assets) | 58,227 | 12.98 | % | 17,946 | 4 | % | 26,918 | 6 | % | ||||||||||||||||
Total Capital (to Risk Weighted Assets) | 63,151 | 14.08 | % | 35,891 | 8 | % | 44,864 | 10 | % |
Note_11_Fair_Value_and_Interes1
Note 11 - Fair Value and Interest Rate Risk (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Quoted Prices in | Significant | Significant | |||||||||||||||
(in thousands) | Active Markets | Observable | Unobservable | Balance | ||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Mar-15 | (Level 1) | (Level 2) | (Level 3) | 31-Mar-15 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 16,276 | $ | - | $ | 16,276 | ||||||||||
U.S. Government agency bonds | - | 7,496 | - | 7,496 | ||||||||||||||
Corporate bonds | - | 8,966 | - | 8,966 | ||||||||||||||
Securities available for sale | $ | - | $ | 32,738 | $ | - | $ | 32,738 | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||||||
Active Markets | Observable | Unobservable | Balance | |||||||||||||||
for Identical Assets | Inputs | Inputs | as of | |||||||||||||||
31-Dec-14 | (Level 1) | (Level 2) | (Level 3) | 31-Dec-14 | ||||||||||||||
U.S. Government agency mortgage- backed securities | $ | - | $ | 17,337 | $ | - | $ | 17,337 | ||||||||||
U.S. Government agency bonds | - | 7,409 | - | 7,409 | ||||||||||||||
Corporate bonds | - | 8,936 | - | 8,936 | ||||||||||||||
Securities available for sale | $ | - | $ | 33,682 | $ | - | $ | 33,682 | ||||||||||
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) | ||||||||||||||||
31-Mar-15 | ||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 535 | $ | 535 | ||||||||||
31-Dec-14 | ||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 859 | $ | 859 | ||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | (in thousands) | Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||
Asset Description | Fair Value | Valuation | Unobservable | Range | ||||||||||||||
Technique | Input | (Weighted Average) | ||||||||||||||||
31-Mar-15 | ||||||||||||||||||
Impaired loans | $ | 535 | Fair Value of Collateral (1) | Appraised Value (2) | 14%-23% | (16%) | (3) | |||||||||||
31-Dec-14 | ||||||||||||||||||
Impaired loans | $ | 859 | Fair Value of Collateral (1) | Appraised Value (2) | 8%-22% | (13%) | (3) | |||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | 31-Mar-15 | 31-Dec-14 | ||||||||||||||||
(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 | $ | 2,080 | $ | 2,080 | $ | 2,095 | $ | 2,095 | |||||||||
Interest-bearing deposits due from banks | Level 1 | 63,878 | 63,878 | 71,163 | 71,163 | |||||||||||||
Other investments | Level 2 | 4,450 | 4,450 | 4,450 | 4,450 | |||||||||||||
Federal Reserve Bank stock | Level 2 | 2,020 | 2,020 | 2,058 | 2,058 | |||||||||||||
Federal Home Loan Bank stock | Level 2 | 6,628 | 6,628 | 6,628 | 6,628 | |||||||||||||
Loans receivable, net | Level 3 | 494,166 | 499,383 | 471,984 | 476,631 | |||||||||||||
Accrued interest receivable | Level 1 | 1,974 | 1,974 | 1,918 | 1,918 | |||||||||||||
Financial Liabilities: | ||||||||||||||||||
Demand deposits | Level 1 | $ | 70,331 | $ | 70,331 | $ | 63,398 | $ | 63,398 | |||||||||
Savings deposits | Level 1 | 96,846 | 96,846 | 93,790 | 93,790 | |||||||||||||
Money market deposits | Level 1 | 23,824 | 23,824 | 24,650 | 24,650 | |||||||||||||
NOW accounts | Level 1 | 26,673 | 26,673 | 26,269 | 26,269 | |||||||||||||
Time deposits | Level 2 | 191,224 | 191,331 | 204,216 | 204,262 | |||||||||||||
Brokered Deposits | Level 1 | 48,209 | 48,209 | 30,710 | 30,710 | |||||||||||||
FHLB Borrowings | Level 2 | 120,000 | 120,000 | 120,000 | 120,000 | |||||||||||||
Subordinated debentures | Level 2 | 8,248 | 8,248 | 8,248 | 8,248 | |||||||||||||
Accrued interest payable | Level 1 | 251 | 251 | 167 | 167 |
Note_2_Investment_Securities_D
Note 2 - Investment Securities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Note 2 - Investment Securities (Details) [Line Items] | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 10 | 11 |
Unrealized Holding Losses Depreciation Percentage from Amortized Cost | 0.60% | 1.30% |
Municipal Deposits Securities [Member] | ||
Note 2 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities Pledged as Collateral (in Dollars) | 6.8 | 7.4 |
Note_2_Investment_Securities_D1
Note 2 - Investment Securities (Details) - Investment Securities (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | $32,924 | $34,135 |
Available-for-sale securities | 32,738 | 33,682 |
Available-for-sale securities, gross unrealized losses | -186 | -453 |
US Government Agencies Debt Securities 5 Years [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 7,500 | |
Available-for-sale securities | 7,496 | |
Available-for-sale securities, gross unrealized losses | -4 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 16,424 | 17,635 |
Available-for-sale securities | 16,276 | 17,337 |
Available-for-sale securities, gross unrealized losses | -148 | -298 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 9,000 | 9,000 |
Available-for-sale securities | 8,966 | 8,936 |
Available-for-sale securities, gross unrealized losses | -34 | -64 |
US Government Agencies Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities, amortized cost | 7,500 | |
Available-for-sale securities | 7,409 | |
Available-for-sale securities, gross unrealized losses | ($91) |
Note_2_Investment_Securities_D2
Note 2 - Investment Securities (Details) - Investment Securities in a Continuous Loss Position (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | $8,456 | |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | -15 | |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 21,782 | 33,682 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -171 | -453 |
Available-for-sale securities in continuous loss position, fair value | 30,238 | 33,682 |
Available-for-sale securities in continuous loss position, unrealized loss | -186 | -453 |
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 | 4,996 | |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | -4 | |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 7,409 | |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -91 | |
Available-for-sale securities in continuous loss position, fair value | 4,996 | 7,409 |
Available-for-sale securities in continuous loss position, unrealized loss | -4 | -91 |
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 | 3,460 | |
Available-for-sale securities in continuous loss position, less than 12 months, unrealized loss | -11 | |
Available-for-sale securities in continuous loss position, 12 months or more, fair value | 12,816 | 17,337 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -137 | -298 |
Available-for-sale securities in continuous loss position, fair value | 16,276 | 17,337 |
Available-for-sale securities in continuous loss position, unrealized loss | -148 | -298 |
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 | 8,966 | 8,936 |
Available-for-sale securities in continuous loss position, 12 months or more, unrealized loss | -34 | -64 |
Available-for-sale securities in continuous loss position, fair value | 8,966 | 8,936 |
Available-for-sale securities in continuous loss position, unrealized loss | ($34) | ($64) |
Note_2_Investment_Securities_D3
Note 2 - Investment Securities (Details) - Investment Debt Securities by Contractual Maturity (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Maturity: | ||
Bonds Five years to 10 Year- Gross unrealized losses | ($186) | ($453) |
U.S. Government agency mortgage-backed securities | -186 | -453 |
Total | 32,924 | 34,135 |
Total | 32,738 | 33,682 |
Total | -186 | -453 |
Corporate Debt Securities [Member] | ||
Maturity: | ||
Bonds Five years to 10 Year- Amortized cost | 9,000 | |
Bonds Five years to 10 Year- Fair value | 8,966 | |
Bonds Five years to 10 Year- Gross unrealized losses | -34 | -64 |
U.S. Government agency mortgage-backed securities | -34 | -64 |
Total | 9,000 | 9,000 |
Total | 8,966 | 8,936 |
Total | -34 | -64 |
US Government Agencies Debt Securities 5 Years [Member] | ||
Maturity: | ||
Bonds Five years to 10 Year- Gross unrealized losses | -4 | |
U.S. Government agency mortgage-backed securities | -4 | |
U.S. Government agency bonds 5 years | 2,500 | |
U.S. Government agency bonds 5 years | 2,500 | |
Total | 7,500 | |
Total | 7,496 | |
Total | -4 | |
US Government Agencies Debt Securities > 5 Years [Member] | ||
Maturity: | ||
Bonds Five years to 10 Year- Amortized cost | 5,000 | |
Bonds Five years to 10 Year- Fair value | 4,996 | |
Bonds Five years to 10 Year- Gross unrealized losses | -4 | |
U.S. Government agency mortgage-backed securities | -4 | |
Total | -4 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Maturity: | ||
Bonds Five years to 10 Year- Gross unrealized losses | -148 | -298 |
U.S. Government agency mortgage-backed securities | 16,424 | |
U.S. Government agency mortgage-backed securities | 16,276 | |
U.S. Government agency mortgage-backed securities | -148 | -298 |
Total | 16,424 | 17,635 |
Total | 16,276 | 17,337 |
Total | ($148) | ($298) |
Note_3_Loans_Receivable_and_Al2
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
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 | $515,000 | $866,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 4,000 | 33,000 | |
Maximum Period for Charged Off of Consumer Installment Loans | 90 days | ||
Performance Period Under Loan Terms | 6 months | ||
Percent of NonAccruing Loan Balance | 26.00% | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,500,000 | 1,800,000 | |
Impaired Financing Receivable, Recorded Investment | 12,230,000 | 11,724,000 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 7,000 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 12,230,000 | 11,717,000 | |
Financing Receivable Modifications Number of Contracts During Period | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Mortgage [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Number of Accruing Loans | 1 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Line of Credit [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Number of Accruing Loans | 4 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Number of Accruing Loans | 1 | 5 | |
Commercial 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% | ||
Impaired Financing Receivable, Recorded Investment | 2,000 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,000 | ||
Multi-family Real Estate [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Maximum Percentage of Credit Extension Based on Market Value of Collateral | 80.00% | ||
Construction to Permanent [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Percentage of Maximum Loan to Value | 75.00% | ||
Residential Mortgage [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 1,600,000 | ||
Non-Accrual Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 135,000 | ||
Line of Credit [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $279,000 |
Note_3_Loans_Receivable_and_Al3
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Companybs Loan Portfolio (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $499,359 | $476,908 | $420,603 | |
Allowance for loan losses | -5,193 | -4,924 | -5,480 | -5,681 |
Loans receivable, net | 494,166 | 471,984 | ||
Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 52,476 | 53,973 | ||
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 281,387 | 254,505 | ||
Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 7,024 | 3,096 | ||
Real Estate Construction to Permanent [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 9,988 | 10,627 | ||
Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 102,521 | 108,543 | ||
Consumer Installment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $45,963 | $46,164 |
Note_3_Loans_Receivable_and_Al4
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Allowance for Loan Losses to Loan Portfolio Segment (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | $4,924 | $5,681 | |
Charge-offs | -10 | -217 | |
Recoveries | 29 | 16 | |
Provision | 250 | ||
Ending Balance | 5,193 | 5,480 | |
Ending balance: individually evaluated for impairment | 1,800 | 7 | |
Ending balance: collectively evaluated for impairment | 5,193 | 3,680 | 4,917 |
Total Allowance for Loan Losses | 5,193 | 5,480 | |
Total Loans ending balance | 499,359 | 420,603 | 476,908 |
Ending balance: individually evaluated for impairment | 12,230 | 20,947 | 11,724 |
Ending balance: collectively evaluated for impairment | 487,129 | 399,656 | 465,184 |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 1,918 | 2,285 | |
Charge-offs | 0 | -9 | |
Recoveries | 16 | 0 | |
Provision | -637 | 95 | |
Ending Balance | 1,297 | 2,371 | |
Ending balance: individually evaluated for impairment | 1,500 | ||
Ending balance: collectively evaluated for impairment | 1,297 | 871 | 1,918 |
Total Allowance for Loan Losses | 1,297 | 2,371 | |
Total Loans ending balance | 52,476 | 38,838 | 53,973 |
Ending balance: individually evaluated for impairment | 6,052 | 2 | |
Ending balance: collectively evaluated for impairment | 52,476 | 32,786 | 53,971 |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 1,419 | 1,585 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | 605 | -265 | |
Ending Balance | 2,024 | 1,320 | |
Ending balance: individually evaluated for impairment | 17 | ||
Ending balance: collectively evaluated for impairment | 2,024 | 1,303 | 1,419 |
Total Allowance for Loan Losses | 2,024 | 1,320 | |
Total Loans ending balance | 281,387 | 217,674 | 254,505 |
Ending balance: individually evaluated for impairment | 8,272 | 8,855 | 7,398 |
Ending balance: collectively evaluated for impairment | 273,115 | 208,819 | 247,107 |
Real Estate Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 63 | 260 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | 159 | 0 | |
Ending Balance | 222 | 260 | |
Ending balance: individually evaluated for impairment | 260 | ||
Ending balance: collectively evaluated for impairment | 222 | 63 | |
Total Allowance for Loan Losses | 222 | 260 | |
Total Loans ending balance | 7,024 | 260 | 3,096 |
Ending balance: individually evaluated for impairment | 260 | ||
Ending balance: collectively evaluated for impairment | 7,024 | 3,096 | |
Construction to Permanent [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 215 | 25 | |
Charge-offs | 0 | 0 | |
Recoveries | 5 | 0 | |
Provision | -29 | 9 | |
Ending Balance | 191 | 34 | |
Ending balance: collectively evaluated for impairment | 191 | 34 | 215 |
Total Allowance for Loan Losses | 191 | 34 | |
Total Loans ending balance | 9,988 | 12,718 | 10,627 |
Ending balance: collectively evaluated for impairment | 9,988 | 12,718 | 10,627 |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 831 | 795 | |
Charge-offs | -3 | -178 | |
Recoveries | 0 | 15 | |
Provision | -98 | 72 | |
Ending Balance | 730 | 704 | |
Ending balance: individually evaluated for impairment | 21 | ||
Ending balance: collectively evaluated for impairment | 730 | 683 | 831 |
Total Allowance for Loan Losses | 730 | 704 | |
Total Loans ending balance | 102,521 | 103,766 | 108,543 |
Ending balance: individually evaluated for impairment | 3,406 | 5,192 | 3,764 |
Ending balance: collectively evaluated for impairment | 99,115 | 98,574 | 104,779 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 478 | 534 | |
Charge-offs | -7 | -30 | |
Recoveries | 8 | 1 | |
Provision | 232 | 34 | |
Ending Balance | 711 | 539 | |
Ending balance: individually evaluated for impairment | 2 | 7 | |
Ending balance: collectively evaluated for impairment | 711 | 537 | 471 |
Total Allowance for Loan Losses | 711 | 539 | |
Total Loans ending balance | 45,963 | 47,347 | 46,164 |
Ending balance: individually evaluated for impairment | 552 | 588 | 560 |
Ending balance: collectively evaluated for impairment | 45,411 | 46,759 | 45,604 |
Unallocated Financing Receivables [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning Balance | 0 | 197 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Provision | 18 | 55 | |
Ending Balance | 18 | 252 | |
Ending balance: collectively evaluated for impairment | 18 | 252 | |
Total Allowance for Loan Losses | $18 | $252 |
Note_3_Loans_Receivable_and_Al5
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans (Non-Accrual and Past Due Loans [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | $380,000 | $728,000 |
Non-Accrual Loans, Current | 135,000 | 138,000 |
Total Non Accrual Loans | 515,000 | 866,000 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non-Accrual Loans, Current | 135,000 | 138,000 |
Total Non Accrual Loans | 135,000 | 138,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non-Accrual Loans, Current | 135,000 | 138,000 |
Total Non Accrual Loans | 135,000 | 138,000 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 380,000 | 719,000 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 380,000 | 719,000 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 380,000 | 719,000 |
Total Non Accrual Loans | 380,000 | 719,000 |
Residential Portfolio Segment [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 380,000 | 719,000 |
Total Non Accrual Loans | 380,000 | 719,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 2,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 2,000 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 2,000 | |
Total Non Accrual Loans | 2,000 | |
Commercial Portfolio Segment [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 2,000 | |
Total Non Accrual Loans | 2,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 7,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 7,000 | |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 7,000 | |
Total Non Accrual Loans | 7,000 | |
Consumer Portfolio Segment [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | 7,000 | |
Total Non Accrual Loans | 7,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Non-Accrual Loans and Past Due Matured Loans [Line Items] | ||
Non Accrual Loans- Past dues | $380,000 | $728,000 |
Note_3_Loans_Receivable_and_Al6
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | $499,359,000 | $476,908,000 | $420,603,000 |
Real Estate Construction [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 7,024,000 | 3,096,000 | |
Total Loan Balances | 7,024,000 | 3,096,000 | |
Total Loans Receivable | 7,024,000 | 3,096,000 | |
Real Estate Construction to Permanent [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 9,988,000 | 10,627,000 | |
Total Loan Balances | 9,988,000 | 10,627,000 | |
Total Loans Receivable | 9,988,000 | 10,627,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 40,000 | 1,520,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 40,000 | 1,520,000 | |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 279,000 | ||
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 279,000 | ||
Commercial Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 40,000 | 1,799,000 | |
Current | 46,732,000 | 46,279,000 | |
Total Loan Balances | 46,772,000 | 48,078,000 | |
Total Loans Receivable | 46,772,000 | 48,078,000 | |
Commercial Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Special Mention [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 113,000 | 121,000 | |
Total Loan Balances | 113,000 | 121,000 | |
Total Loans Receivable | 113,000 | 121,000 | |
Commercial Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 5,591,000 | 5,772,000 | |
Total Loan Balances | 5,591,000 | 5,772,000 | |
Total Non-Accrual and Past Due Loans | 2,000 | ||
Total Loans Receivable | 5,591,000 | 5,774,000 | |
Commercial Portfolio Segment [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 40,000 | 1,799,000 | |
Current | 52,436,000 | 52,172,000 | |
Total Loan Balances | 52,476,000 | 53,971,000 | |
Total Non-Accrual and Past Due Loans | 2,000 | ||
Total Loans Receivable | 52,476,000 | 53,973,000 | |
Commercial Portfolio Segment [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 52,476,000 | 53,973,000 | 38,838,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Special Mention [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,041,000 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,041,000 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 815,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 815,000 | ||
Commercial Real Estate Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 271,956,000 | 248,132,000 | |
Total Loan Balances | 271,956,000 | 248,132,000 | |
Total Loans Receivable | 271,956,000 | 248,132,000 | |
Commercial Real Estate Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Special Mention [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,041,000 | |
Current | 5,986,000 | 2,887,000 | |
Total Loan Balances | 7,018,000 | 3,928,000 | |
Total Loans Receivable | 7,018,000 | 3,928,000 | |
Commercial Real Estate Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 815,000 | ||
Current | 2,278,000 | 1,492,000 | |
Total Loan Balances | 2,278,000 | 2,307,000 | |
Total Non-Accrual and Past Due Loans | 135,000 | 138,000 | |
Total Loans Receivable | 2,413,000 | 2,445,000 | |
Commercial Real Estate Portfolio Segment [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,856,000 | |
Current | 280,220,000 | 252,511,000 | |
Total Loan Balances | 281,252,000 | 254,367,000 | |
Total Non-Accrual and Past Due Loans | 135,000 | 138,000 | |
Total Loans Receivable | 281,387,000 | 254,505,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 281,387,000 | 254,505,000 | 217,674,000 |
Real Estate Construction [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 7,024,000 | 3,096,000 | |
Total Loan Balances | 7,024,000 | 3,096,000 | |
Total Loans Receivable | 7,024,000 | 3,096,000 | |
Real Estate Construction [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 7,024,000 | 3,096,000 | 260,000 |
Construction to Permanent [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Current | 9,988,000 | 10,627,000 | |
Total Loan Balances | 9,988,000 | 10,627,000 | |
Total Loans Receivable | 9,988,000 | 10,627,000 | |
Construction to Permanent [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 9,988,000 | 10,627,000 | 12,718,000 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 30,000 | 172,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 30,000 | 172,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 178,000 | 87,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 178,000 | 87,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,537,000 | 1,553,000 | |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,537,000 | 1,553,000 | |
Residential Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,745,000 | 1,812,000 | |
Current | 100,396,000 | 106,012,000 | |
Total Loan Balances | 102,141,000 | 107,824,000 | |
Total Loans Receivable | 102,141,000 | 107,824,000 | |
Residential Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Non-Accrual and Past Due Loans | 380,000 | 719,000 | |
Total Loans Receivable | 380,000 | 719,000 | |
Residential Portfolio Segment [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,745,000 | 1,812,000 | |
Current | 100,396,000 | 106,012,000 | |
Total Loan Balances | 102,141,000 | 107,824,000 | |
Total Non-Accrual and Past Due Loans | 380,000 | 719,000 | |
Total Loans Receivable | 102,521,000 | 108,543,000 | |
Residential Portfolio Segment [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 102,521,000 | 108,543,000 | 103,766,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 4,000 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 4,000 | ||
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 99,000 | 2,000 | |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 99,000 | 2,000 | |
Consumer Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 103,000 | 2,000 | |
Current | 45,860,000 | 46,155,000 | |
Total Loan Balances | 45,963,000 | 46,157,000 | |
Total Loans Receivable | 45,963,000 | 46,157,000 | |
Consumer Portfolio Segment [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Non-Accrual and Past Due Loans | 7,000 | ||
Total Loans Receivable | 7,000 | ||
Consumer Portfolio Segment [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 103,000 | 2,000 | |
Current | 45,860,000 | 46,155,000 | |
Total Loan Balances | 45,963,000 | 46,157,000 | |
Total Non-Accrual and Past Due Loans | 7,000 | ||
Total Loans Receivable | 45,963,000 | 46,164,000 | |
Consumer Portfolio Segment [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Loans Receivable | 45,963,000 | 46,164,000 | 47,347,000 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 74,000 | 1,692,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | Special Mention [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,041,000 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,106,000 | 2,733,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 277,000 | 89,000 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 815,000 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 277,000 | 904,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,537,000 | 1,832,000 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,537,000 | 1,832,000 | |
Performing and Accruing Loans [Member] | Pass [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,888,000 | 3,613,000 | |
Current | 481,956,000 | 460,301,000 | |
Total Loan Balances | 483,844,000 | 463,914,000 | |
Total Loans Receivable | 483,844,000 | 463,914,000 | |
Performing and Accruing Loans [Member] | Special Mention [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 1,032,000 | 1,041,000 | |
Current | 6,099,000 | 3,008,000 | |
Total Loan Balances | 7,131,000 | 4,049,000 | |
Total Loans Receivable | 7,131,000 | 4,049,000 | |
Performing and Accruing Loans [Member] | Substandard [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 815,000 | ||
Current | 7,869,000 | 7,264,000 | |
Total Loan Balances | 7,869,000 | 8,079,000 | |
Total Non-Accrual and Past Due Loans | 515,000 | 866,000 | |
Total Loans Receivable | 8,384,000 | 8,945,000 | |
Performing and Accruing Loans [Member] | |||
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Delinquency Status of Performing (Accruing) Loans [Line Items] | |||
Total Past due | 2,920,000 | 5,469,000 | |
Current | 495,924,000 | 470,573,000 | |
Total Loan Balances | 498,844,000 | 476,042,000 | |
Total Non-Accrual and Past Due Loans | 515,000 | 866,000 | |
Total Loans Receivable | $499,359,000 | $476,908,000 |
Note_3_Loans_Receivable_and_Al7
Note 3 - Loans Receivable and Allowance for Loan Losses (Details) - Impaired Loans (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
With no related allowance recorded: | |||
With no related allowance recorded-Recorded Investment | $12,230,000 | $11,717,000 | |
With no related allowance recorded-Unpaid Principal Balance | 13,573,000 | 13,511,000 | |
With no related allowance recorded-Average Recorded Investment | 12,374,000 | 14,140,000 | |
With no related allowance recorded-Interest Income Recognized | 131,000 | 199,000 | |
With an allowance recorded: | |||
With related allowance recorded-Recorded Investment | 0 | 7,000 | |
With related allowance recorded-Unpaid Principal Balance | 7,000 | ||
With related allowance recorded-Related Allowance | 7,000 | ||
With related allowance recorded-Average Recorded Investment | 2,000 | 7,160,000 | |
Impaired loans | 12,230,000 | 11,724,000 | |
Unpaid Principal Balance | 13,573,000 | 13,518,000 | |
Related Allowance | 7,000 | ||
Average Recorded Investment | 12,376,000 | 21,300,000 | |
Interest Income Recognized | 131,000 | 199,000 | |
Commercial Portfolio Segment [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Recorded Investment | 2,000 | ||
With no related allowance recorded-Unpaid Principal Balance | 101,000 | 104,000 | |
With no related allowance recorded-Average Recorded Investment | 1,000 | 2,000 | |
With no related allowance recorded-Interest Income Recognized | 86,000 | ||
With an allowance recorded: | |||
With related allowance recorded-Average Recorded Investment | 6,078,000 | ||
Impaired loans | 2,000 | ||
Unpaid Principal Balance | 101,000 | 104,000 | |
Average Recorded Investment | 1,000 | 6,080,000 | |
Interest Income Recognized | 86,000 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Recorded Investment | 8,272,000 | 7,398,000 | |
With no related allowance recorded-Unpaid Principal Balance | 9,113,000 | 8,249,000 | |
With no related allowance recorded-Average Recorded Investment | 8,296,000 | 7,941,000 | |
With no related allowance recorded-Interest Income Recognized | 95,000 | 72,000 | |
With an allowance recorded: | |||
With related allowance recorded-Average Recorded Investment | 158,000 | ||
Impaired loans | 8,272,000 | 7,398,000 | |
Unpaid Principal Balance | 9,113,000 | 8,249,000 | |
Average Recorded Investment | 8,296,000 | 8,099,000 | |
Interest Income Recognized | 95,000 | 72,000 | |
Real Estate Construction [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Unpaid Principal Balance | 287,000 | 732,000 | |
With an allowance recorded: | |||
With related allowance recorded-Average Recorded Investment | 260,000 | ||
Unpaid Principal Balance | 287,000 | 732,000 | |
Average Recorded Investment | 260,000 | ||
Residential Portfolio Segment [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Recorded Investment | 3,406,000 | 3,764,000 | |
With no related allowance recorded-Unpaid Principal Balance | 3,433,000 | 3,793,000 | |
With no related allowance recorded-Average Recorded Investment | 3,525,000 | 4,821,000 | |
With no related allowance recorded-Interest Income Recognized | 32,000 | 32,000 | |
With an allowance recorded: | |||
With related allowance recorded-Average Recorded Investment | 662,000 | ||
Impaired loans | 3,406,000 | 3,764,000 | |
Unpaid Principal Balance | 3,433,000 | 3,793,000 | |
Average Recorded Investment | 3,525,000 | 5,483,000 | |
Interest Income Recognized | 32,000 | 32,000 | |
Consumer Portfolio Segment [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Recorded Investment | 552,000 | 553,000 | |
With no related allowance recorded-Unpaid Principal Balance | 639,000 | 633,000 | |
With no related allowance recorded-Average Recorded Investment | 552,000 | 588,000 | |
With no related allowance recorded-Interest Income Recognized | 4,000 | 9,000 | |
With an allowance recorded: | |||
With related allowance recorded-Recorded Investment | 7,000 | ||
With related allowance recorded-Unpaid Principal Balance | 7,000 | ||
With related allowance recorded-Related Allowance | 7,000 | ||
With related allowance recorded-Average Recorded Investment | 2,000 | 2,000 | |
Impaired loans | 552,000 | 560,000 | |
Unpaid Principal Balance | 639,000 | 640,000 | |
Related Allowance | 7,000 | ||
Average Recorded Investment | 554,000 | 590,000 | |
Interest Income Recognized | 4,000 | 9,000 | |
Construction to Permanent [Member] | |||
With no related allowance recorded: | |||
With no related allowance recorded-Average Recorded Investment | $788,000 |
Note_4_Deposits_Details_Summar
Note 4 - Deposits (Details) - Summary of the Companybs Deposits (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Summary of the Companybs Deposits [Abstract] | ||
Non-interest bearing | $70,331 | $63,398 |
Interest bearing | ||
NOW | 26,673 | 26,269 |
Savings | 96,846 | 93,790 |
Money market | 23,824 | 24,650 |
Time certificates, less than $100,000 | 99,691 | 106,340 |
Time certificates, $100,000 or more | 91,533 | 97,876 |
Brokered Deposits | 48,209 | 30,710 |
Total interest bearing | 386,776 | 379,635 |
Total Deposits | $457,107 | $443,033 |
Note_5_ShareBased_Compensation2
Note 5 - Share-Based Compensation (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Note 5 - Share-Based Compensation (Details) [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,878,805 | |
Allocated Share-based Compensation Expense | $114,000 | $59,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,940 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 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 | |
Restricted Stock [Member] | ||
Note 5 - Share-Based Compensation (Details) [Line Items] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 240 days | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $988,000 |
Note_5_ShareBased_Compensation3
Note 5 - Share-Based Compensation (Details) - Summary of Restricted Shares (Restricted Stock [Member], USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | |||
Restricted Stock [Member] | ||||
Note 5 - Share-Based Compensation (Details) - Summary of Restricted Shares [Line Items] | ||||
Number of shares awarded, nonvested shares | 81,923 | [1] | 79,208 | [1] |
Weighted average grant date fair value, nonvested shares | $12.93 | [1] | $12.79 | [1] |
Granted | 2,940 | [1] | ||
Granted | $17 | [1] | ||
Vested | -225 | [1] | ||
Vested | $17.25 | [1] | ||
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Note_6_Income_Taxes_Details
Note 6 - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Income Tax Expense (Benefit) | $201,000 | $0 | |
Deferred Tax Assets, Valuation Allowance | 16,800,000 | ||
Increase (Decrease) in Deferred Income Taxes | -300,000 | ||
Deferred Tax Assets, Net | $14,600,000 | $14,900,000 |
Note_7_Income_Per_Share_Detail
Note 7 - Income Per Share (Details) | Mar. 31, 2015 |
Earnings Per Share [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 |
Note_7_Income_Per_Share_Detail1
Note 7 - Income Per Share (Details) - Computation of Income (Loss) Per Share (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||
Note 7 - Income Per Share (Details) - Computation of Income (Loss) Per Share [Line Items] | ||||
Net income (in Dollars) | $289,000 | $319,000 | $319,000 | |
Basic Earnings Per Share-O/S | 3,871,849 | [1] | 3,849,318 | |
Basic Earnings Per Share-Amount (in Dollars per share) | $0.07 | [1] | $0.08 | |
Effect of Dilutive Securities | ||||
Diluted Earnings Per Share-O/S | 3,953,772 | 3,911,806 | ||
Diluted Earnings Per Share-Amount (in Dollars per share) | $0.07 | $0.08 | ||
Restricted Stock [Member] | ||||
Effect of Dilutive Securities | ||||
Non-vested Restricted Stock Grants- O/s | 81,923 | 62,488 | ||
[1] | All common stock data has been restated for a 1-for-10 reverse stock split which took effect on March 4, 2015. |
Note_8_Other_Comprehensive_Inc2
Note 8 - Other Comprehensive Income (Details) - Other Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Other Comprehensive Income [Abstract] | |||
Unrealized holding gains arising during the period-Before tax | $267 | $393 | |
Unrealized holding gains arising during the period- Tax | -104 | ||
Unrealized holding gains arising during the period-Net | $163 | $393 | $393 |
Note_9_Financial_Instruments_w2
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) (USD $) | Mar. 31, 2015 |
Risks and Uncertainties [Abstract] | |
Banks Reserve Based on Analysis in Unfunded Commitments | $5,000 |
Note_9_Financial_Instruments_w3
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk (USD $) | Mar. 31, 2015 |
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 | $67,898 |
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 | 9,629 |
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 | 24,783 |
Unused Line of Credit [Member] | |
Note 9 - Financial Instruments with Off-Balance Sheet Risk (Details) - Contractual Amounts Represent Credit Risk [Line Items] | |
Commitments to extend credit | 24,117 |
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 | 8,244 |
Financial Standy 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 | $1,125 |
Note_10_Regulatory_and_Operati2
Note 10 - Regulatory and Operational Matters (Details) - Companybs and Bankbs Actual Capital Amounts and Ratios (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Parent Company [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 Capital (to Average Assets) Actual Amount | $57,129 | $58,218 |
Tier 1 Capital (to Average Assets) Actual Ratio | 9.23% | 9.62% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | 24,753 | 24,210 |
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 | 30,941 | 30,262 |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 49,129 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 10.03% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 22,044 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.50% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 31,842 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 57,129 | 58,218 |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 11.66% | 12.98% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 29,393 | 17,942 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.00% | 4.00% |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 39,190 | 26,913 |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 6.00% |
Total Capital (to Risk Weighted Assets) Actual Amount | 62,322 | 63,142 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 12.72% | 14.08% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 39,190 | 35,884 |
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 | 48,988 | 44,855 |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 Capital (to Average Assets) Actual Amount | 57,221 | 58,227 |
Tier 1 Capital (to Average Assets) Actual Ratio | 9.25% | 9.63% |
Tier 1 Capital (to Average Assets) For Capital Adequacy Purposes Amount | 24,746 | 24,198 |
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 | 30,932 | 30,247 |
Tier 1 Capital (to Average Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 57,221 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 11.69% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 22,033 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 4.50% | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 31,826 | |
Common Equity Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | |
Tier 1 Capital (to Risk Weighted Assets) Actual Amount | 57,221 | 58,227 |
Tier 1 Capital (to Risk Weighted Assets) Actual Ratio | 11.69% | 12.98% |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 29,378 | 17,946 |
Tier 1 Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Ratio | 6.00% | 4.00% |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 39,170 | 26,918 |
Tier 1 Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 6.00% |
Total Capital (to Risk Weighted Assets) Actual Amount | 62,414 | 63,151 |
Total Capital (to Risk Weighted Assets) Actual Ratio | 12.75% | 14.08% |
Total Capital (to Risk Weighted Assets) For Capital Adequacy Purposes Amount | 39,170 | 35,891 |
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 | $48,963 | $44,864 |
Total Capital (to Risk Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Note_11_Fair_Value_and_Interes2
Note 11 - Fair Value and Interest Rate Risk (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Note 11 - Fair Value and Interest Rate Risk (Details) [Line Items] | ||
Other Investments | $4,450 | $4,450 |
Solomon Hess SBA Loan Fund [Member] | ||
Note 11 - Fair Value and Interest Rate Risk (Details) [Line Items] | ||
Other Investments | $4,500 |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | $32,738 | $33,682 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [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 | 16,276 | 17,337 |
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 | 16,276 | 17,337 |
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 | 16,276 | 17,337 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [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 | 7,496 | 7,409 |
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 | 7,496 | 7,409 |
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 | 7,409 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [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 | 8,966 | 8,936 |
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 | 8,966 | 8,936 |
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 | 8,966 | 8,936 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [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 | 32,738 | 33,682 |
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 | $32,738 | $33,682 |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 |
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] | ||
Impaired loans | $12,230 | $11,724 |
Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Note 11 - Fair Value and Interest Rate Risk (Details) - Financial Assets Measured at Fair Value on a Non-Recurring Basis [Line Items] | ||
Impaired loans | 535 | 859 |
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] | ||
Impaired loans | $535 | $859 |
Note_11_Fair_Value_and_Interes5
Note 11 - Fair Value and Interest Rate Risk (Details) - Quantitative Information About Level 3 Fair Value Measurements (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans (in Dollars) | 12,230 | 11,724 |
Fair Value of Collateral Approach [Member] | Minimum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range, percent | 14.00% | 8.00% |
Range, weighed average percent | -14.00% | -8.00% |
Fair Value of Collateral Approach [Member] | Maximum [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range, percent | 23.00% | 22.00% |
Range, weighed average percent | -23.00% | -22.00% |
Fair Value of Collateral Approach [Member] | Weighted Average [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range, percent | 16.00% | 13.00% |
Range, weighed average percent | -16.00% | -13.00% |
Fair Value of Collateral Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans (in Dollars) | 535 | 859 |
Note_11_Fair_Value_and_Interes6
Note 11 - Fair Value and Interest Rate Risk (Details) - Carrying Amounts and Estimated Fair Values of Financial Instruments (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ||
Cash and noninterest bearing balances due from banks | $2,080 | $2,095 |
Interest-bearing deposits due from banks | 63,878 | 71,163 |
Other investments | 4,450 | 4,450 |
Federal Reserve Bank stock | 2,020 | 2,058 |
Federal Home Loan Bank stock | 6,628 | 6,628 |
Loans receivable, net | 494,166 | 471,984 |
Accrued interest receivable | 1,974 | 1,918 |
Financial Liabilities: | ||
Savings deposits | 96,846 | 93,790 |
Money market deposits | 23,824 | 24,650 |
NOW accounts | 26,673 | 26,269 |
Brokered Deposits | 48,209 | 30,710 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and noninterest bearing balances due from banks | 2,080 | 2,095 |
Cash and noninterest bearing balances due from banks | 2,080 | 2,095 |
Interest-bearing deposits due from banks | 63,878 | 71,163 |
Interest-bearing deposits due from banks | 63,878 | 71,163 |
Accrued interest receivable | 1,974 | 1,918 |
Accrued interest receivable | 1,974 | 1,918 |
Financial Liabilities: | ||
Demand deposits | 70,331 | 63,398 |
Demand deposits | 70,331 | 63,398 |
Savings deposits | 96,846 | 93,790 |
Savings deposits | 96,846 | 93,790 |
Money market deposits | 23,824 | 24,650 |
Money market deposits | 23,824 | 24,650 |
NOW accounts | 26,673 | 26,269 |
NOW accounts | 26,673 | 26,269 |
Accrued interest payable | 251 | 167 |
Accrued interest payable | 251 | 167 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Other investments | 4,450 | 4,450 |
Other investments | 4,450 | 4,450 |
Federal Reserve Bank stock | 2,020 | 2,058 |
Federal Reserve Bank stock | 2,020 | 2,058 |
Federal Home Loan Bank stock | 6,628 | 6,628 |
Federal Home Loan Bank stock | 6,628 | 6,628 |
Financial Liabilities: | ||
Time deposits | 191,224 | 204,216 |
Time deposits | 191,331 | 204,262 |
FHLB Borrowings | 120,000 | 120,000 |
FHLB Borrowings | 120,000 | 120,000 |
Subordinated debentures | 8,248 | 8,248 |
Subordinated debentures | 8,248 | 8,248 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Loans receivable, net | 494,166 | 471,984 |
Loans receivable, net | 499,383 | 476,631 |
Financial Liabilities: | ||
Brokered Deposits | 48,209 | 30,710 |
Brokered Deposits | $48,209 | $30,710 |