Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'FIDELITY D & D BANCORP INC | ' |
Entity Central Index Key | '0001098151 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 2,419,587 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Cash and due from banks | $14,419 | $13,197 |
Interest-bearing deposits with financial institutions | 20 | 21 |
Total cash and cash equivalents | 14,439 | 13,218 |
Available-for-sale securities | 102,699 | 97,246 |
Held-to-maturity securities (fair value of $0 in 2014, $195 in 2013) | ' | 177 |
Federal Home Loan Bank stock | 2,954 | 2,640 |
Loans and leases, net (allowance for loan losses of $9,029 in 2014; $8,928 in 2013) | 486,471 | 469,216 |
Loans held-for-sale (fair value $1,664 in 2014, $937 in 2013) | 1,633 | 917 |
Foreclosed assets held-for-sale | 2,186 | 2,086 |
Bank premises and equipment, net | 14,341 | 13,602 |
Cash surrender value of bank owned life insurance | 10,569 | 10,402 |
Accrued interest receivable | 2,082 | 2,068 |
Other assets | 12,932 | 12,253 |
Total assets | 650,306 | 623,825 |
Liabilities: | ' | ' |
Deposits: Interest-bearing | 412,495 | 406,779 |
Deposits: Non-interest-bearing | 126,008 | 122,919 |
Total deposits | 538,503 | 529,698 |
Accrued interest payable and other liabilities | 4,005 | 3,425 |
Short-term borrowings | 21,872 | 8,642 |
Long-term debt | 16,000 | 16,000 |
Total liabilities | 580,380 | 557,765 |
Shareholders' Equity: | ' | ' |
Preferred stock authorized 5,000,000 shares with no par value; none issued | 0 | 0 |
Capital stock, no par value (10,000,000 shares authorized; shares issued and outstanding; 2,419,587 in 2014; and 2,391,617 in 2013) | 25,947 | 25,302 |
Retained earnings | 41,394 | 39,519 |
Accumulated other comprehensive income | 2,585 | 1,239 |
Total shareholders' equity | 69,926 | 66,060 |
Total liabilities and shareholders' equity | $650,306 | $623,825 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Held-to-maturity Securities, Fair Value | $0 | $195 |
Loans, Allowance for Loan Losses | 9,029 | 8,928 |
Loans Held-for-sale, Fair Value Disclosure | $1,664 | $937 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, No Par Value | $0 | $0 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, No Par Value | $0 | $0 |
Common Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Common Stock, Shares, Issued | 2,419,587 | 2,391,617 |
Common Stock, Shares, Outstanding | 2,419,587 | 2,391,617 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Loans and leases: Taxable | $5,393 | $5,335 | $10,669 | $10,705 |
Loans and leases: Nontaxable | 131 | 121 | 262 | 220 |
Interest-bearing deposits with financial institutions | 5 | 2 | 12 | 14 |
Investment securities: | ' | ' | ' | ' |
U.S. government agency and corporations | 257 | 137 | 502 | 316 |
States and political subdivisions (nontaxable) | 333 | 299 | 654 | 589 |
Other securities | 26 | 18 | 48 | 36 |
Total interest income | 6,145 | 5,912 | 12,147 | 11,880 |
Interest expense: | ' | ' | ' | ' |
Deposits | 498 | 511 | 987 | 1,026 |
Securities sold under repurchase agreements | 4 | 4 | 12 | 13 |
Other short-term borrowings and other | 6 | 4 | 6 | 5 |
Long-term debt | 213 | 213 | 423 | 423 |
Total interest expense | 721 | 732 | 1,428 | 1,467 |
Net interest income | 5,424 | 5,180 | 10,719 | 10,413 |
Provision for loan losses | 300 | 600 | 600 | 1,150 |
Net interest income after provision for loan losses | 5,124 | 4,580 | 10,119 | 9,263 |
Other income: | ' | ' | ' | ' |
Service charges on deposit accounts | 431 | 459 | 854 | 911 |
Interchange fees | 332 | 307 | 637 | 580 |
Fees from trust fiduciary activities | 172 | 192 | 336 | 340 |
Fees from financial services | 153 | 140 | 292 | 296 |
Service charges on loans | 307 | 348 | 424 | 582 |
Fees and other revenue | 190 | 119 | 361 | 221 |
Earnings on bank-owned life insurance | 84 | 86 | 167 | 166 |
Gain (loss) on sale, recovery, or disposal of: | ' | ' | ' | ' |
Loans | 124 | 390 | 252 | 894 |
Investment securities | 94 | 9 | 301 | 128 |
Premises and equipment | -66 | 1 | -65 | 1 |
Impairment losses on investment securities: | ' | ' | ' | ' |
Other-than-temporary impairment on investment securities | ' | ' | ' | -61 |
Non-credit-related losses on investment securities not expected to be sold (recognized in other comprehensive income(loss)) | ' | ' | ' | 61 |
Net impairment losses on investment securities | 0 | 0 | 0 | 0 |
Total other income | 1,821 | 2,051 | 3,559 | 4,119 |
Other expenses: | ' | ' | ' | ' |
Salaries and employee benefits | 2,488 | 2,422 | 4,964 | 4,896 |
Premises and equipment | 875 | 805 | 1,792 | 1,660 |
Advertising and marketing | 274 | 215 | 606 | 467 |
Professional services | 321 | 328 | 639 | 577 |
FDIC assessment | 79 | 123 | 178 | 249 |
Loan collection | 70 | 168 | 117 | 363 |
Other real estate owned | 24 | 61 | 89 | 184 |
Office supplies and postage | 100 | 114 | 207 | 216 |
Automated transaction processing | 154 | 115 | 305 | 240 |
Other | 376 | 255 | 649 | 635 |
Total other expenses | 4,761 | 4,606 | 9,546 | 9,487 |
Income before income taxes | 2,184 | 2,025 | 4,132 | 3,895 |
Provision for income taxes | 557 | 512 | 1,049 | 988 |
Net income | $1,627 | $1,513 | $3,083 | $2,907 |
Per share data: | ' | ' | ' | ' |
Net income - basic | $0.67 | $0.64 | $1.28 | $1.24 |
Net income - diluted | $0.67 | $0.64 | $1.28 | $1.24 |
Dividends | $0.25 | $0.25 | $0.50 | $0.50 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $1,627 | $1,513 | $3,083 | $2,907 |
Other comprehensive income, before tax: | ' | ' | ' | ' |
Unrealized holding (loss) gain on available-for-sale securities | 1,325 | -1,810 | 2,340 | -2,227 |
Reclassification adjustment for net gains realized in income | -94 | -9 | -301 | -128 |
Net unrealized gain (loss) | 1,231 | -1,819 | 2,039 | -2,355 |
Tax effect | -419 | 619 | -693 | 801 |
Unrealized gain (loss), net of tax | 812 | -1,200 | 1,346 | -1,554 |
Non-credit-related impairment gain on investment securities not expected to be sold | ' | 92 | ' | 53 |
Reclassification adjustment for net gains realized in income | ' | ' | ' | ' |
Non-credit-related impairment gain on investment securities | ' | 92 | ' | 53 |
Tax effect | ' | -31 | ' | -18 |
Net non-credit-related impairment loss on investment securities, net of tax | ' | 61 | ' | 35 |
Other comprehensive income (loss), net of tax | 812 | -1,139 | 1,346 | -1,519 |
Total comprehensive income, net of tax | $2,439 | $374 | $4,429 | $1,388 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Capital Units [Member] | Capital stock [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss) [Member] | Total |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | |
Balance (value) at Dec. 31, 2012 | ' | $23,711 | $34,999 | $236 | $58,946 |
Balance (shares) at Dec. 31, 2012 | 2,323,248 | ' | ' | ' | ' |
Net income | ' | ' | 2,907 | ' | 2,907 |
Other comprehensive income (loss) | ' | ' | ' | -1,519 | -1,519 |
Issuance of common stock through Employee Stock Purchase Plan | ' | 78 | ' | ' | 78 |
Issuance of common stock, shares, through Employee Stock Purchase Plan | 4,256 | ' | ' | ' | ' |
Issuance of common stock through Dividend Reinvestment Plan | ' | 606 | ' | ' | 606 |
Issuance of common stock, shares, through Dividend Reinvestment Plan | 29,191 | ' | ' | ' | ' |
Issuance of common stock from vested restricted share grants through stock compensation plans | 134 | ' | ' | ' | ' |
Stock-based compensation expense | ' | 59 | ' | ' | 59 |
Cash dividends declared | ' | ' | -1,174 | ' | -1,174 |
Balance (value) at Jun. 30, 2013 | ' | 24,454 | 36,732 | -1,283 | 59,903 |
Balance (shares) at Jun. 30, 2013 | 2,356,829 | ' | ' | ' | ' |
Balance (value) at Dec. 31, 2013 | ' | 25,302 | 39,519 | 1,239 | 66,060 |
Balance (shares) at Dec. 31, 2013 | 2,391,617 | ' | ' | ' | ' |
Net income | ' | ' | 3,083 | ' | 3,083 |
Other comprehensive income (loss) | ' | ' | ' | 1,346 | 1,346 |
Issuance of common stock through Employee Stock Purchase Plan | ' | 80 | ' | ' | 80 |
Issuance of common stock, shares, through Employee Stock Purchase Plan | 4,373 | ' | ' | ' | ' |
Issuance of common stock through Dividend Reinvestment Plan | ' | 448 | ' | ' | 448 |
Issuance of common stock, shares, through Dividend Reinvestment Plan | 18,347 | ' | ' | ' | ' |
Issuance of common stock from vested restricted share grants through stock compensation plans | 5,250 | ' | ' | ' | 5,250 |
Stock-based compensation expense | ' | 117 | ' | ' | 117 |
Cash dividends declared | ' | ' | -1,208 | ' | -1,208 |
Balance (value) at Jun. 30, 2014 | ' | $25,947 | $41,394 | $2,585 | $69,926 |
Balance (shares) at Jun. 30, 2014 | 2,419,587 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $3,083 | $2,907 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation, amortization, and accretion | 1,542 | 1,722 |
Provision for loan losses | 600 | 1,150 |
Deferred income tax expense | 47 | 406 |
Stock-based compensation expense | 117 | 59 |
Proceeds from sale of loans held-for-sale | 14,523 | 50,623 |
Originations of loans held-for-sale | -15,165 | -42,730 |
Earnings on bank-owned life insurance | -167 | -166 |
Net gain from sales of loans | -252 | -894 |
Net gain from sales of investment securities | -301 | -111 |
Net (gain) loss on sale and write-down of foreclosed assets held-for-sale | -57 | 87 |
Net loss (gain) on disposal of equipment | 66 | -1 |
Other-than-temporary impairment on securities | 0 | 0 |
Change in: | ' | ' |
Accrued interest receivable | -14 | -94 |
Other assets | -1,011 | -338 |
Accrued interest payable and other liabilities | 580 | -271 |
Net cash provided by operating activities | 3,591 | 12,349 |
Cash flows from investing activities: | ' | ' |
Held-to-maturity securities: Proceeds from sales | 187 | ' |
Held-to-maturity securities: Proceeds from maturities, calls, and principal pay-downs | 3 | 82 |
Available-for-sale securities: Proceeds from sales | 4,877 | 756 |
Available-for-sale securities: Proceeds from maturities, calls and principal pay-downs | 6,319 | 15,838 |
Available-for-sale securities: Purchases | -14,944 | -15,374 |
Increase FHLB stock | -314 | -590 |
Net increase in loans and leases | -19,949 | -32,000 |
Acquisition of bank premises and equipment | -955 | -467 |
Proceeds from sale of foreclosed assets held-for-sale | 1,051 | 310 |
Net cash used by investing activities | -23,725 | -31,445 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 8,805 | 4,863 |
Net increase in short-term borrowings | 13,230 | 8,143 |
Proceeds from employee stock purchase plan participants | 80 | 78 |
Dividends paid, net of dividends reinvested | -864 | -727 |
Proceeds from dividend reinvestment plan participants | 104 | 159 |
Net cash provided by financing activities | 21,355 | 12,516 |
Net increase (decrease) in cash and cash equivalents | 1,221 | -6,580 |
Cash and cash equivalents, beginning | 13,218 | 21,846 |
Cash and cash equivalents, ending | $14,439 | $15,266 |
Nature_Of_Operations_And_Criti
Nature Of Operations And Critical Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Nature Of Operations And Critical Accounting Policies [Abstract] | ' |
Nature Of Operations And Critical Accounting Policies | ' |
1. Nature of operations and critical accounting policies | |
Nature of operations | |
Fidelity Deposit and Discount Bank (the Bank) is a commercial bank chartered in the Commonwealth of Pennsylvania and a wholly-owned subsidiary of Fidelity D & D Bancorp, Inc. (the Company or collectively, the Company). Having commenced operations in 1903, the Bank is committed to provide superior customer service, while offering a full range of banking products and financial and trust services to both our consumer and commercial customers from our main office located in Dunmore and other branches located throughout Lackawanna and Luzerne Counties. | |
Principles of consolidation | |
The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the instructions to this Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the financial condition and results of operations for the periods have been included. All significant inter-company balances and transactions have been eliminated in consolidation. | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not absolute assurance that the financial records accurately reflect the transactions of the Company, the Company’s assets are safeguarded and that the financial statements present fairly the financial condition and results of operations of the Company. | |
In the opinion of management, the consolidated balance sheets as of June 30, 2014 and December 31, 2013 and the related consolidated statements of income and consolidated statements of comprehensive income for the three- and six- months ended June 30, 2014 and 2013, and consolidated statements of changes in shareholders’ equity and consolidated statements of cash flows for the six months ended June 30, 2014 and 2013 present fairly the financial condition and results of operations of the Company. All material adjustments required for a fair presentation have been made. These adjustments are of a normal recurring nature. Certain reclassifications have been made to the 2013 financial statements to conform to the 2014 presentation. | |
In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after June 30, 2014 through the date these consolidated financial statements were issued. | |
This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2013, and the notes included therein, included within the Company’s Annual Report filed on Form 10-K. | |
Critical accounting policies | |
The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect many of the reported amounts and disclosures. Actual results could differ from these estimates. | |
A material estimate that is particularly susceptible to significant change relates to the determination of the allowance for loan losses. Management believes that the allowance for loan losses at June 30, 2014 is adequate and reasonable. Given the subjective nature of identifying and valuing loan losses, it is likely that well-informed individuals could make different assumptions and could, therefore, calculate a materially different allowance value. While management uses available information to recognize losses on loans, changes in economic conditions may necessitate revisions in the future. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize adjustments to the allowance based on their judgment of information available to them at the time of their examination. | |
Another material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. Based on experience, management is aware that estimated fair values of investment securities tend to vary among valuation services. Accordingly, when selling investment securities, price quotes may be obtained from more than one source. The majority of the Company’s investment securities are classified as available-for-sale (AFS). AFS securities are carried at fair value on the consolidated balance sheets, with unrealized gains and losses, net of income tax, reported separately within shareholders’ equity as a component of accumulated other comprehensive income (loss) (OCI). | |
The fair value of residential mortgage loans, classified as held-for-sale (HFS), is obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank (FHLB). Generally, the market to which the Company sells residential mortgages it originates for sale is restricted and price quotes from other sources are not typically obtained. On occasion, the Company may transfer loans from the loan portfolio to loans HFS. Under these circumstances, pricing may be obtained from other entities and the loans are transferred at the lower of cost or market value and simultaneously sold. As of June 30, 2014 and December 31, 2013, loans classified as HFS consisted of residential mortgage loans. | |
Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest income on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used to arrive at a level effective yield over the life of the lease. | |
Foreclosed assets held-for-sale includes other real estate acquired through foreclosure (ORE) and may, from time-to-time, include repossessed assets such as automobiles. ORE is carried at the lower of cost (principal balance at date of foreclosure) or fair value less estimated cost to sell. Any write-downs at the date of foreclosure or within a reasonable period of time after foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain ORE properties, subsequent write downs to the asset’s fair value, any rental income received and gains or losses on disposal are included as components of other real estate owned expense in the consolidated statements of income. | |
For purposes of the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. For the six months ended June 30, 2014 and 2013, the Company paid interest of $1.4 million and $1.5 million, respectively. The Company was required to pay income taxes of $0.4 million and $0.9 million during the first six months of 2014 and 2013. Transfers from loans to foreclosed assets held-for-sale amounted to $1.2 million and $1.4 million during the six months ended June 30, 2014 and 2013, respectively. During the same respective periods, transfers from loans to loans HFS amounted to $0 and $2.7 million and from loans to bank premises and equipment amounted to $1.0 million and $0. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of bank premises and equipment. | |
New_Accounting_Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
New Accounting Pronouncements [Abstract] | ' |
New Accounting Pronouncements | ' |
2. New accounting pronouncements | |
In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard update (ASU 2014-04) related to; Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The update applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The amendments in this update clarify when an in-substance repossession or foreclosure occurs and requires disclosure of both (1) the amount of foreclosed residential real estate property held by a 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. The amendments in the update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. Early adoption is permitted. The Company is currently analyzing the impact of the updated guidance on its financial statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP: identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the performance obligations in the contract; recognize revenue when (or as) the entity satisfies a performance obligation. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is evaluating the impact of the adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard in 2017. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||
3. Accumulated other comprehensive income (loss) | ||||||||||||||
The following tables illustrate the changes in accumulated other comprehensive income (loss) by component and the details about the components of accumulated other comprehensive income (loss) as of and for the periods indicated: | ||||||||||||||
As of and for the six months ended June 30, 2014 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,239 | $ | - | $ | 1,239 | ||||||||
Other comprehensive income before reclassifications | 1,545 | - | 1,545 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -199 | - | -199 | |||||||||||
Net current-period other comprehensive income | 1,346 | - | 1,346 | |||||||||||
Ending balance | $ | 2,585 | $ | - | $ | 2,585 | ||||||||
As of and for the three months ended June 30, 2014 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,773 | $ | - | $ | 1,773 | ||||||||
Other comprehensive income before reclassifications | 874 | - | 874 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -62 | - | -62 | |||||||||||
Net current-period other comprehensive income | 812 | - | 812 | |||||||||||
Ending balance | $ | 2,585 | $ | - | $ | 2,585 | ||||||||
As of and for the six months ended June 30, 2013 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,905 | $ | -1,669 | $ | 236 | ||||||||
Other comprehensive (loss) income before reclassifications | -1,469 | 35 | -1,434 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -85 | - | -85 | |||||||||||
Net current-period other comprehensive (loss) income | -1,554 | 35 | -1,519 | |||||||||||
Ending balance | $ | 351 | $ | -1,634 | $ | -1,283 | ||||||||
As of and for the three months ended June 30, 2013 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,551 | $ | -1,695 | $ | -144 | ||||||||
Other comprehensive (loss) income before reclassifications | -1,194 | 61 | -1,133 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -6 | - | -6 | |||||||||||
Net current-period other comprehensive (loss) income | -1,200 | 61 | -1,139 | |||||||||||
Ending balance | $ | 351 | $ | -1,634 | $ | -1,283 | ||||||||
In the tables above, all amounts are net of tax at 34%. Amounts in parentheses indicate debits. | ||||||||||||||
Details about accumulated other | ||||||||||||||
comprehensive income components | Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||
(dollars in thousands) | other comprehensive income | where net income is presented | ||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Unrealized gains on AFS securities | $ | 94 | $ | 9 | $ | 301 | $ | 128 | Gain on sale, recovery, or disposal of investment securities | |||||
-32 | -3 | -102 | -43 | Provision for income taxes | ||||||||||
Total reclassifications for the period | $ | 62 | $ | 6 | $ | 199 | $ | 85 | Net income | |||||
Investment_Securities
Investment Securities | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||
4. Investment securities | |||||||||||||||||||
The amortized cost and fair value of investment securities at June 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
30-Jun-14 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | $ | - | $ | - | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 15,591 | $ | 113 | $ | 4 | $ | 15,700 | |||||||||||
Obligations of states and political subdivisions | 33,257 | 1,888 | 39 | 35,106 | |||||||||||||||
MBS - GSE residential | 49,639 | 1,674 | 10 | 51,303 | |||||||||||||||
Total debt securities | 98,487 | 3,675 | 53 | 102,109 | |||||||||||||||
Equity securities - financial services | 295 | 295 | - | 590 | |||||||||||||||
Total available-for-sale securities | $ | 98,782 | $ | 3,970 | $ | 53 | $ | 102,699 | |||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | 177 | $ | 18 | $ | - | $ | 195 | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 14,667 | $ | 8 | $ | 74 | $ | 14,601 | |||||||||||
Obligations of states and political subdivisions | 32,269 | 912 | 570 | 32,611 | |||||||||||||||
MBS - GSE residential | 48,137 | 1,476 | 104 | 49,509 | |||||||||||||||
Total debt securities | 95,073 | 2,396 | 748 | 96,721 | |||||||||||||||
Equity securities - financial services | 295 | 230 | - | 525 | |||||||||||||||
Total available-for-sale securities | $ | 95,368 | $ | 2,626 | $ | 748 | $ | 97,246 | |||||||||||
The amortized cost and fair value of debt securities at June 30, 2014 by contractual maturity are summarized below: | |||||||||||||||||||
Amortized | Fair | ||||||||||||||||||
(dollars in thousands) | cost | value | |||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | |||||||||||||||
Available-for-sale securities: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
Due in one year or less | $ | 1,000 | $ | 1,002 | |||||||||||||||
Due after one year through five years | 9,377 | 9,419 | |||||||||||||||||
Due after five years through ten years | 6,451 | 6,637 | |||||||||||||||||
Due after ten years | 32,020 | 33,748 | |||||||||||||||||
Total debt securities | 48,848 | 50,806 | |||||||||||||||||
MBS - GSE residential | 49,639 | 51,303 | |||||||||||||||||
Total available-for-sale debt securities | $ | 98,487 | $ | 102,109 | |||||||||||||||
Actual maturities will differ from contractual maturities because issuers and borrowers may have the right to call or repay obligations with or without call or prepayment penalty. Agency – GSE and municipal securities are included based on their original stated maturity. MBS – GSE residential, which are based on weighted-average lives and subject to monthly principal pay-downs, are listed in total. Most of the securities have fixed rates or have predetermined scheduled rate changes, and many have call features that allow the issuer to call the security at par before its stated maturity, without penalty. | |||||||||||||||||||
The following table presents the fair value and gross unrealized losses of investment securities aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of June 30, 2014 and December 31, 2013: | |||||||||||||||||||
Less than 12 months | More than 12 months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollars in thousands) | value | losses | value | losses | value | losses | |||||||||||||
30-Jun-14 | |||||||||||||||||||
Agency - GSE | $ | 3,064 | $ | 4 | $ | - | $ | - | $ | 3,064 | $ | 4 | |||||||
Obligations of states and political subdivisions | - | - | 2,379 | 39 | 2,379 | 39 | |||||||||||||
MBS - GSE residential | 2,105 | 4 | 1,930 | 6 | 4,035 | 10 | |||||||||||||
Total temporarily impaired securities | $ | 5,169 | $ | 8 | $ | 4,309 | $ | 45 | $ | 9,478 | $ | 53 | |||||||
Number of securities | 4 | 7 | 11 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Agency - GSE | $ | 11,592 | $ | 74 | $ | - | $ | - | $ | 11,592 | $ | 74 | |||||||
Obligations of states and political subdivisions | 10,148 | 570 | - | - | 10,148 | 570 | |||||||||||||
MBS - GSE residential | 11,703 | 83 | 3,052 | 21 | 14,755 | 104 | |||||||||||||
Total temporarily impaired securities | $ | 33,443 | $ | 727 | $ | 3,052 | $ | 21 | $ | 36,495 | $ | 748 | |||||||
Number of securities | 38 | 2 | 40 | ||||||||||||||||
Management believes the cause of the unrealized losses is related to changes in interest rates, instability in the capital markets or the limited trading activity due to illiquid conditions in the debt market and is not directly related to credit quality. Quarterly, management conducts a formal review of investment securities for the presence of other-than-temporary impairment (OTTI). The accounting guidance related to OTTI requires the Company to assess whether OTTI is present when the fair value of a debt security is less than its amortized cost as of the balance sheet date. Under those circumstances, OTTI is considered to have occurred if: (1) the entity has intent to sell the security; (2) more likely than not the entity will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not sufficient to recover the entire amortized cost. | |||||||||||||||||||
The accounting guidance requires that credit-related OTTI be recognized in earnings while non-credit-related OTTI on securities not expected to be sold be recognized in other comprehensive income (loss) (OCI). Non-credit-related OTTI is based on other factors affecting market value, including illiquidity. Presentation of OTTI is made in the consolidated statements of income on a gross basis with an offset for the amount of non-credit-related OTTI recognized in OCI. | |||||||||||||||||||
The Company’s OTTI evaluation process also follows the guidance set forth in topics related to debt and equity securities. The guidance set forth in the pronouncements require the Company to take into consideration current market conditions, fair value in relationship to cost, extent and nature of changes in fair value, issuer rating changes and trends, volatility of earnings, current analysts’ evaluations, all available information relevant to the collectability of debt securities, the ability and intent to hold investments until a recovery of fair value which may be to maturity and other factors when evaluating for the existence of OTTI. The guidance requires that credit-related OTTI be recognized as a realized loss through earnings when there has been an adverse change in the holder’s expected cash flows such that the full amount (principal and interest) will probably not be received. This requirement is consistent with the impairment model in the guidance for accounting for debt and equity securities. | |||||||||||||||||||
For all security types, as of June 30, 2014, the Company applied the criteria provided in the recognition and presentation guidance related to OTTI. That is, management has no intent to sell the securities and no conditions were identified by management that more likely than not would require the Company to sell the securities before recovery of their amortized cost basis. The results indicated there was no presence of OTTI in the Company’s security portfolio. In addition, management believes the change in fair value is attributable to changes in interest rates and those instruments with unrealized losses were not caused by deterioration of credit quality. Accordingly, as of June 30, 2014, recognition of OTTI on these securities was unnecessary. | |||||||||||||||||||
Agency - GSE and MBS - GSE residential | |||||||||||||||||||
Agency – GSE and MBS – GSE residential securities consist of short- to long-term notes issued by Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA), Federal Home Loan Bank (FHLB) and Government National Mortgage Association (GNMA). These securities have interest rates that are fixed and adjustable, have varying short- to long-term maturity dates and have contractual cash flows guaranteed by the U.S. government or agencies of the U.S. government. | |||||||||||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||
The municipal securities are bank qualified or bank eligible, general obligation and revenue bonds rated as investment grade by various credit rating agencies and have fixed rates of interest with mid- to long-term maturities. Fair values of these securities are highly driven by interest rates. Management performs ongoing credit quality reviews on these issues. | |||||||||||||||||||
Loans_And_Leases
Loans And Leases | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Loans And Leases [Abstract] | ' | |||||||||||||||||||||||
Loans And Leases | ' | |||||||||||||||||||||||
5. Loans and leases | ||||||||||||||||||||||||
The classifications of loans and leases at June 30, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||
Commercial and industrial | $ | 76,343 | $ | 74,551 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 92,272 | 89,255 | ||||||||||||||||||||||
Owner occupied | 90,364 | 86,294 | ||||||||||||||||||||||
Construction | 7,167 | 10,765 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 34,459 | 34,480 | ||||||||||||||||||||||
Home equity line of credit | 39,465 | 36,836 | ||||||||||||||||||||||
Auto loans and leases | 26,295 | 22,261 | ||||||||||||||||||||||
Other | 6,751 | 5,205 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 115,082 | 110,365 | ||||||||||||||||||||||
Construction | 7,435 | 8,188 | ||||||||||||||||||||||
Total | 495,633 | 478,200 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan losses | -9,029 | -8,928 | ||||||||||||||||||||||
Unearned lease revenue | -133 | -56 | ||||||||||||||||||||||
Loans and leases, net | $ | 486,471 | $ | 469,216 | ||||||||||||||||||||
Net deferred loan costs of $1.2 million and $1.1 million have been added to the carrying values of loans at June 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
Unearned lease revenue represents the difference between the lessor’s investment in the property and the gross investment in the lease. Unearned revenue is accrued over the life of the lease using the effective income method. | ||||||||||||||||||||||||
The Company services real estate loans for investors in the secondary mortgage market which are not included in the accompanying consolidated balance sheets. The approximate amount of mortgages serviced amounted to $251.5 million as of June 30, 2014 and $250.2 million as of December 31, 2013. | ||||||||||||||||||||||||
The Company utilizes an external independent loan review firm that reviews and validates the credit risk program on at least an annual basis. Results of these reviews are presented to management and the board of directors. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. | ||||||||||||||||||||||||
Non-accrual loans | ||||||||||||||||||||||||
The decision to place loans on non-accrual status is made on an individual basis after considering factors pertaining to each specific loan. Commercial and industrial and commercial real estate loans are placed on non-accrual status when management has determined that payment of all contractual principal and interest is in doubt or the loan is past due 90 days or more as to principal and interest, unless well-secured and in the process of collection. Consumer loans secured by real estate and residential mortgage loans are placed on non-accrual status at 120 days past due as to principal and interest and unsecured consumer loans are charged off when the loan is 90 days or more past due as to principal and interest. The Company considers all non-accrual loans to be impaired loans. | ||||||||||||||||||||||||
Non-accrual loans, segregated by class, at June 30, 2014 and December 31, 2013, were as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||
Commercial and industrial | $ | 27 | $ | 62 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 634 | 1,518 | ||||||||||||||||||||||
Owner occupied | 1,536 | 1,422 | ||||||||||||||||||||||
Construction | 272 | 635 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 481 | 393 | ||||||||||||||||||||||
Home equity line of credit | 516 | 254 | ||||||||||||||||||||||
Auto loans and leases | - | 12 | ||||||||||||||||||||||
Other | 30 | 22 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 576 | 1,350 | ||||||||||||||||||||||
Total | $ | 4,072 | $ | 5,668 | ||||||||||||||||||||
Troubled Debt Restructuring | ||||||||||||||||||||||||
A modification of a loan constitutes a troubled debt restructuring (TDR) when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Company considers all TDRs to be impaired loans. The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. Commercial real estate loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a new borrower or guarantor. Commercial real estate construction loans modified in a TDR may also involve extending the interest-only payment period. Residential mortgage loans modified in a TDR are primarily comprised of loans where monthly payments are lowered to accommodate the borrowers’ financial needs for an extended period of time. After the lowered monthly payment period ends, the borrower would revert back to paying principal and interest pursuant to the original terms with the maturity date adjusted accordingly. Consumer loan modifications are typically not granted and therefore standard modification terms do not exist for loans of this type. | ||||||||||||||||||||||||
Loans modified in a TDR may or may not be placed on non-accrual status. As of June 30, 2014, total TDRs amounted to $1.7 million (5 loans), of which one loan with a balance of $0.9 million was on non-accrual status, compared to $2.0 million (7 loans) and $1.0 million, respectively, as of December 31, 2013. Of the TDRs outstanding as of June 30, 2014 and December 31, 2013, when modified, the concessions granted consisted of temporary interest-only payments or a reduction in the rate of interest to a below-market rate for a contractual period of time. Other than the TDR that was on non-accrual status, the TDRs were performing in accordance with their modified terms. | ||||||||||||||||||||||||
Loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Company evaluates the loan for possible further impairment. There were no loans modified in a TDR during the six and twelve months ended June 30, 2014. | ||||||||||||||||||||||||
The allowance for loan losses (allowance) may be increased, adjustments may be made in the allocation of the allowance or partial charge offs may be taken to further write-down the carrying value of the loan. An allowance for impaired loans that have been modified in a TDR is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the loan’s observable market price. If the loan is collateral dependent, the estimated fair value of the collateral, less any selling costs, is used to establish the allowance. | ||||||||||||||||||||||||
Past due loans | ||||||||||||||||||||||||
Loans are considered past due when the contractual principal and/or interest is not received by the due date. An aging analysis of past due loans, segregated by class of loans, as of the period indicated is as follows (dollars in thousands): | ||||||||||||||||||||||||
Recorded | ||||||||||||||||||||||||
Past due | investment past | |||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 days | Total | Total | due ≥ 90 days | |||||||||||||||||||
30-Jun-14 | past due | past due | or more * | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 130 | $ | 271 | $ | 27 | $ | 428 | $ | 75,915 | $ | 76,343 | $ | - | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 248 | - | 634 | 882 | 91,390 | 92,272 | - | |||||||||||||||||
Owner occupied | 910 | 405 | 1,536 | 2,851 | 87,513 | 90,364 | - | |||||||||||||||||
Construction | - | - | 272 | 272 | 6,895 | 7,167 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 278 | 81 | 481 | 840 | 33,619 | 34,459 | - | |||||||||||||||||
Home equity line of credit | 10 | - | 516 | 526 | 38,939 | 39,465 | - | |||||||||||||||||
Auto loans and leases | 383 | - | 9 | 392 | 25,770 | 26,162 | 9 | |||||||||||||||||
Other | 17 | 7 | 34 | 58 | 6,693 | 6,751 | 4 | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 185 | 564 | 576 | 1,325 | 113,757 | 115,082 | - | |||||||||||||||||
Construction | - | - | - | - | 7,435 | 7,435 | - | |||||||||||||||||
Total | $ | 2,161 | $ | 1,328 | $ | 4,085 | $ | 7,574 | $ | 487,926 | $ | 495,500 | $ | 13 | ||||||||||
* Includes $4.1 million of non-accrual loans. | ||||||||||||||||||||||||
Recorded | ||||||||||||||||||||||||
Past due | investment past | |||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 days | Total | Total | due ≥ 90 days | |||||||||||||||||||
31-Dec-13 | past due | past due | or more * | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 111 | $ | 212 | $ | 69 | $ | 392 | $ | 74,159 | $ | 74,551 | $ | 7 | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 484 | 35 | 1,518 | 2,037 | 87,218 | 89,255 | - | |||||||||||||||||
Owner occupied | 1,714 | 545 | 1,422 | 3,681 | 82,613 | 86,294 | - | |||||||||||||||||
Construction | - | - | 635 | 635 | 10,130 | 10,765 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 229 | 72 | 393 | 694 | 33,786 | 34,480 | - | |||||||||||||||||
Home equity line of credit | - | 114 | 275 | 389 | 36,447 | 36,836 | 21 | |||||||||||||||||
Auto loans and leases | 165 | 14 | 23 | 202 | 22,003 | 22,205 | 11 | |||||||||||||||||
Other | 52 | 23 | 22 | 97 | 5,108 | 5,205 | - | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 158 | 1,340 | 1,466 | 2,964 | 107,401 | 110,365 | 116 | |||||||||||||||||
Construction | - | - | - | - | 8,188 | 8,188 | - | |||||||||||||||||
Total | $ | 2,913 | $ | 2,355 | $ | 5,823 | $ | 11,091 | $ | 467,053 | $ | 478,144 | $ | 155 | ||||||||||
* Includes $5.7 million of non-accrual loans. | ||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||
A loan is considered impaired when, based on current information and events; it is probable that the Company will be unable to collect the scheduled payments in accordance with the contractual terms of the loan. Factors considered in determining impairment include payment status, collateral value and the probability of collecting payments when due. The significance of payment delays and/or shortfalls is determined on a case-by-case basis. All circumstances surrounding the loan are taken into account. Such factors include the length of the delinquency, the underlying reasons and the borrower’s prior payment record. Impairment is measured on these loans on a loan-by-loan basis. Impaired loans include non-accrual loans, TDRs and other loans deemed to be impaired based on the aforementioned factors. As of June 30, 2014 and December 31, 2013, impaired loans consisted of non-accrual loans and TDRs. | ||||||||||||||||||||||||
At June 30, 2014, impaired loans consisted of accruing TDRs totaling $0.8 million and $4.1 million of non-accrual loans. At December 31, 2013, impaired loans consisted of accruing TDRs totaling $1.0 million and $5.7 million of non-accrual loans. As of June 30, 2014 and December 31, 2013, the non-accrual loans included non-accruing TDRs of $0.9 million and $1.0 million, respectively. Payments received from impaired loans are first applied against the outstanding principal balance, then to the recovery of any charged-off amounts. Any excess is treated as a recovery of interest income. | ||||||||||||||||||||||||
Impaired loans, segregated by class, as of the period indicated are detailed below: | ||||||||||||||||||||||||
Recorded | Recorded | Cash basis | ||||||||||||||||||||||
Unpaid | investment | investment | Total | Average | Interest | interest | ||||||||||||||||||
principal | with | with no | recorded | Related | recorded | income | income | |||||||||||||||||
(dollars in thousands) | balance | allowance | allowance | investment | allowance | investment | recognized | recognized | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Commercial & industrial | $ | 52 | $ | 18 | $ | 34 | $ | 52 | $ | 5 | $ | 84 | $ | 1 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 1,284 | 723 | 387 | 1,110 | 60 | 1,680 | 14 | - | ||||||||||||||||
Owner occupied | 1,925 | 316 | 1,478 | 1,794 | 42 | 1,954 | 6 | - | ||||||||||||||||
Construction | 355 | - | 272 | 272 | - | 565 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 614 | 35 | 446 | 481 | 3 | 433 | - | - | ||||||||||||||||
Home equity line of credit | 533 | - | 516 | 516 | - | 327 | 20 | - | ||||||||||||||||
Auto loans and leases | - | - | - | - | - | 5 | - | - | ||||||||||||||||
Other | 37 | - | 30 | 30 | - | 21 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 657 | 201 | 375 | 576 | 51 | 1,133 | - | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 5,457 | $ | 1,293 | $ | 3,538 | $ | 4,831 | $ | 161 | $ | 6,202 | $ | 41 | $ | - | ||||||||
Recorded | Recorded | Cash basis | ||||||||||||||||||||||
Unpaid | investment | investment | Total | Average | Interest | interest | ||||||||||||||||||
principal | with | with no | recorded | Related | recorded | income | income | |||||||||||||||||
(dollars in thousands) | balance | allowance | allowance | investment | allowance | investment | recognized | recognized | ||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial & industrial | $ | 134 | $ | 64 | $ | 33 | $ | 97 | $ | 31 | $ | 80 | $ | 2 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 2,146 | 174 | 1,827 | 2,001 | 27 | 2,173 | 31 | 78 | ||||||||||||||||
Owner occupied | 2,136 | 622 | 1,327 | 1,949 | 90 | 3,203 | 36 | - | ||||||||||||||||
Construction | 1,024 | - | 635 | 635 | - | 903 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 501 | 125 | 268 | 393 | 23 | 723 | 37 | - | ||||||||||||||||
Home equity line of credit | 340 | - | 254 | 254 | - | 355 | 2 | - | ||||||||||||||||
Auto | 12 | 12 | - | 12 | 1 | 5 | - | - | ||||||||||||||||
Other | 22 | - | 22 | 22 | - | 29 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 1,511 | 437 | 913 | 1,350 | 110 | 1,682 | 71 | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 7,826 | $ | 1,434 | $ | 5,279 | $ | 6,713 | $ | 282 | $ | 9,153 | $ | 179 | $ | 78 | ||||||||
Credit Quality Indicators | ||||||||||||||||||||||||
Commercial and industrial and commercial real estate | ||||||||||||||||||||||||
The Company utilizes a loan grading system and assigns a credit risk grade to its loans in the commercial and industrial and commercial real estate portfolios. The grading system provides a means to measure portfolio quality and aids in the monitoring of the credit quality of the overall loan portfolio. The credit risk grades are arrived at using a risk rating matrix to assign a grade to each of the loans in the commercial and industrial and commercial real estate portfolios. | ||||||||||||||||||||||||
The following is a description of each risk rating category the Company uses to classify each of its commercial and industrial and commercial real estate loans: | ||||||||||||||||||||||||
Pass | ||||||||||||||||||||||||
Loans in this category have an acceptable level of risk and are graded in a range of one to five. Secured loans generally have good collateral coverage. Current financial statements reflect acceptable balance sheet ratios, sales and earnings trends. Management is considered to be good, and there is some depth existing. Payment experience on the loans has been good with minor or no delinquency experience. Loans with a grade of one are of the highest quality in the range. Those graded five are of marginally acceptable quality. | ||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||
Loans in this category are graded a six and may be protected but are potentially weak. They constitute a credit risk to the Company, but have not yet reached the point of adverse classification. Some of the following conditions may exist: little or no collateral coverage; lack of current financial information; delinquency problems; highly leveraged; available financial information reflects poor balance sheet ratios and profit and loss statements reflect uncertain trends; and document exceptions. Cash flow may not be sufficient to support total debt service requirements. Loans in this category should not remain on the list for an inordinate period of time (no more than one year) and then the loan should be passed or classified appropriately. | ||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||
Loans in this category are graded a seven and have a well-defined weakness which may jeopardize the ultimate collectability of the debt. The collateral pledged may be lacking in quality or quantity. Financial statements may indicate insufficient cash flow to service the debt; and/or do not reflect a sound net worth. The payment history indicates chronic delinquency problems. Management is considered to be weak. There is a distinct possibility that the Company may sustain a loss. All loans on non-accrual are rated substandard. Other loans that are included in the substandard category can be accruing, as well as loans that are current or past due. Loans 90 days or more past due, unless otherwise fully supported, are classified substandard. Also, borrowers that are bankrupt or have loans categorized as troubled debt restructures can be graded substandard. | ||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||
Loans in this category are graded an eight and have a better than 50% possibility of the Company sustaining a loss, but the loss cannot be determined because of specific reasonable factors which may strengthen credit in the near-term. Many of the weaknesses present in a substandard loan exist. Liquidation of collateral, if any, is likely. Any loan graded lower than an eight is considered to be uncollectible and charged-off. | ||||||||||||||||||||||||
Consumer and residential | ||||||||||||||||||||||||
The consumer and residential loan segments are regarded as homogeneous loan pools and as such are not risk rated. For these portfolios, the Company utilizes payment activity, history and recency of payment. Non-performing loans are considered to be loans past due 90 days or more and accruing and non-accrual loans. All loans not classified as non-performing are considered performing. | ||||||||||||||||||||||||
The following table presents loans, segregated by class, categorized into the appropriate credit quality indicator category as of the period indicated: | ||||||||||||||||||||||||
Commercial credit exposure | ||||||||||||||||||||||||
Credit risk profile by creditworthiness category | ||||||||||||||||||||||||
Commercial real estate - | Commercial real estate - | Commercial real estate - | ||||||||||||||||||||||
Commercial and industrial | non-owner occupied | owner occupied | construction | |||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||
Pass | $ | 72,224 | $ | 71,122 | $ | 82,247 | $ | 78,069 | $ | 85,149 | $ | 82,975 | $ | 6,116 | $ | 9,026 | ||||||||
Special mention | 2,597 | 2,244 | 2,687 | 2,734 | 2,283 | 656 | 715 | 1,037 | ||||||||||||||||
Substandard | 1,522 | 1,185 | 7,338 | 8,452 | 2,932 | 2,663 | 336 | 702 | ||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 76,343 | $ | 74,551 | $ | 92,272 | $ | 89,255 | $ | 90,364 | $ | 86,294 | $ | 7,167 | $ | 10,765 | ||||||||
Consumer credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Home equity installment | Home equity line of credit | Auto loans and leases | Other | |||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||
Performing | $ | 33,978 | $ | 34,087 | $ | 38,949 | $ | 36,561 | $ | 26,153 | $ | 22,182 | $ | 6,717 | $ | 5,183 | ||||||||
Non-performing | 481 | 393 | 516 | 275 | 9 | 23 | 34 | 22 | ||||||||||||||||
Total | $ | 34,459 | $ | 34,480 | $ | 39,465 | $ | 36,836 | $ | 26,162 | $ | 22,205 | $ | 6,751 | $ | 5,205 | ||||||||
Mortgage lending credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Residential real estate | Residential construction | |||||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||||||
Performing | $ | 114,506 | $ | 108,899 | $ | 7,435 | $ | 8,188 | ||||||||||||||||
Non-performing | 576 | 1,466 | - | - | ||||||||||||||||||||
Total | $ | 115,082 | $ | 110,365 | $ | 7,435 | $ | 8,188 | ||||||||||||||||
Allowance for loan losses | ||||||||||||||||||||||||
Management continually evaluates the credit quality of the Company’s loan portfolio and performs a formal review of the adequacy of the allowance for loan losses (the allowance) on a quarterly basis. The allowance reflects management’s best estimate of the amount of credit losses in the loan portfolio. Management’s judgment is based on the evaluation of individual loans, past experience, the assessment of current economic conditions and other relevant factors including the amounts and timing of cash flows expected to be received on impaired loans. Those estimates may be susceptible to significant change. Loan losses are charged directly against the allowance when loans are deemed to be uncollectible. Recoveries from previously charged-off loans are added to the allowance when received. | ||||||||||||||||||||||||
Management applies two primary components during the loan review process to determine proper allowance levels. The two components are a specific loan loss allocation for loans that are deemed impaired and a general loan loss allocation for those loans not specifically allocated. The methodology to analyze the adequacy of the allowance for loan losses is as follows: | ||||||||||||||||||||||||
§ | identification of specific impaired loans by loan category; | |||||||||||||||||||||||
§ | identification of specific loans that are not impaired, but have an identified potential for loss; | |||||||||||||||||||||||
§ | calculation of specific allowances where required for the impaired loans based on collateral and other objective and quantifiable evidence; | |||||||||||||||||||||||
§ | determination of loans with similar credit characteristics within each class of the loan portfolio segment and eliminating the impaired loans; | |||||||||||||||||||||||
§ | application of historical loss percentages (trailing twelve-quarter average) to pools to determine the allowance allocation; | |||||||||||||||||||||||
§ | application of qualitative factor adjustment percentages to historical losses for trends or changes in the loan portfolio. | |||||||||||||||||||||||
§ | Qualitative factor adjustments include: | |||||||||||||||||||||||
o | levels of and trends in delinquencies and non-accrual loans; | |||||||||||||||||||||||
o | levels of and trends in charge-offs and recoveries; | |||||||||||||||||||||||
o | trends in volume and terms of loans; | |||||||||||||||||||||||
o | changes in risk selection and underwriting standards; | |||||||||||||||||||||||
o | changes in lending policies, procedures and practices; | |||||||||||||||||||||||
o | experience, ability and depth of lending management; | |||||||||||||||||||||||
o | national and local economic trends and conditions; and | |||||||||||||||||||||||
o | changes in credit concentrations. | |||||||||||||||||||||||
Allocation of the allowance for different categories of loans is based on the methodology as explained above. A key element of the methodology to determine the allowance is the Company’s credit risk evaluation process, which includes credit risk grading of individual commercial and industrial and commercial real estate loans. Commercial and industrial and commercial real estate loans are assigned credit risk grades based on the Company’s assessment of conditions that affect the borrower’s ability to meet its contractual obligations under the loan agreement. That process includes reviewing borrowers’ current financial information, historical payment experience, credit documentation, public information and other information specific to each individual borrower. Upon review, the commercial loan credit risk grade is revised or reaffirmed as the case may be. The credit risk grades may be changed at any time management feels an upgrade or downgrade may be warranted. The credit risk grades for the commercial and industrial and commercial real estate loan portfolios are taken into account in the reserve methodology and loss factors are applied based upon the credit risk grades. The loss factors applied are based upon the Company’s historical experience as well as what we believe to be best practices and common industry standards. Historical experience reveals there is a direct correlation between the credit risk grades and loan charge-offs. The changes in allocations in the commercial and industrial and commercial real estate loan portfolio from period to period are based upon the credit risk grading system and from periodic reviews of the loan portfolio. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies. | ||||||||||||||||||||||||
Each quarter, management performs an assessment of the allowance for loan losses. The Company’s Special Assets Committee meets monthly and the applicable lenders discuss each relationship under review and reach a consensus on the appropriate estimated loss amount, if applicable, based on current accounting guidance. The Special Assets Committee’s focus is on ensuring the pertinent facts are considered regarding not only loans considered for specific reserves, but also the collectability of loans that may be past due in payment. The assessment process also includes the review of all loans on a non-accruing basis as well as a review of certain loans to which the lenders or the Company’s Credit Administration function have assigned a criticized or classified risk rating. | ||||||||||||||||||||||||
During the fourth quarter of 2013, the Company changed its methodology to determine historical loss percentages – from a two-year average, calculated annually, to a trailing twelve-quarter average. Management determined that utilizing a trailing twelve-quarter average minimizes the impact of certain anomalies caused by irregular occurrences such as infrequent large loan charge offs. Analyzing historical loss data over a longer period provides a more accurate measurement of factors to be used in estimating future loan loss estimates. | ||||||||||||||||||||||||
In addition, during the fourth quarter of 2013, the Company changed its methodology used to calculate the allowance for loan losses from the methodology used in the first three quarters of 2013. Beginning in the fourth quarter of 2013, certain loans were eliminated from the allowance for loan loss calculation. The loans eliminated include the following: the guaranteed portion of all commercial loans that carry a guarantee by the Small Business Administration and loans in all loan categories that are fully secured by cash collateral. Management has determined that these loans have very little risk of not being fully collected. Therefore, upon origination, these loans have been eliminated from allowance for loan loss calculations. | ||||||||||||||||||||||||
The Company’s policy is to charge off unsecured consumer loans when they become 90 days or more past due as to principal and interest. In the other portfolio segments, amounts are charged off at the point in time when the Company deems the balance, or a portion thereof, to be uncollectible. | ||||||||||||||||||||||||
Information related to the change in the allowance for loan losses and the Company’s recorded investment in loans by portfolio segment as of the period indicated is as follows: | ||||||||||||||||||||||||
As of and for the six months ended June 30, 2014 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 944 | $ | 4,253 | $ | 1,482 | $ | 1,613 | $ | 636 | $ | 8,928 | ||||||||||||
Charge-offs | 36 | 217 | 240 | 77 | - | 570 | ||||||||||||||||||
Recoveries | 14 | 1 | 22 | 34 | - | 71 | ||||||||||||||||||
Provision | 114 | 305 | 306 | 8 | -133 | 600 | ||||||||||||||||||
Ending balance | $ | 1,036 | $ | 4,342 | $ | 1,570 | $ | 1,578 | $ | 503 | $ | 9,029 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 5 | $ | 102 | $ | 3 | $ | 51 | $ | 161 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,031 | $ | 4,240 | $ | 1,567 | $ | 1,527 | $ | 8,365 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 76,343 | $ | 189,803 | $ | 106,837 | $ | 122,517 | $ | 495,500 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 52 | $ | 3,176 | $ | 1,027 | $ | 576 | $ | 4,831 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 76,291 | $ | 186,627 | $ | 105,810 | $ | 121,941 | $ | 490,669 | ||||||||||||||
As of and for the three months ended June 30, 2014 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 962 | $ | 4,317 | $ | 1,517 | $ | 1,524 | $ | 579 | $ | 8,899 | ||||||||||||
Charge-offs | 8 | 65 | 122 | 18 | - | 213 | ||||||||||||||||||
Recoveries | 3 | - | 6 | 34 | - | 43 | ||||||||||||||||||
Provision | 79 | 90 | 169 | 38 | -76 | 300 | ||||||||||||||||||
Ending balance | $ | 1,036 | $ | 4,342 | $ | 1,570 | $ | 1,578 | $ | 503 | $ | 9,029 | ||||||||||||
As of and for the year ended December 31, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 922 | $ | 4,908 | $ | 1,639 | $ | 1,503 | $ | - | $ | 8,972 | ||||||||||||
Charge-offs | 56 | 2,091 | 400 | 218 | - | 2,765 | ||||||||||||||||||
Recoveries | 30 | 30 | 110 | 1 | - | 171 | ||||||||||||||||||
Provision | 48 | 1,406 | 133 | 327 | 636 | 2,550 | ||||||||||||||||||
Ending balance | $ | 944 | $ | 4,253 | $ | 1,482 | $ | 1,613 | $ | 636 | $ | 8,928 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 31 | $ | 117 | $ | 24 | $ | 110 | $ | 282 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 913 | $ | 4,136 | $ | 1,458 | $ | 1,503 | $ | 8,010 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 74,551 | $ | 186,314 | $ | 98,726 | $ | 118,553 | $ | 478,144 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 97 | $ | 4,585 | $ | 681 | $ | 1,350 | $ | 6,713 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 74,454 | $ | 181,729 | $ | 98,045 | $ | 117,203 | $ | 471,431 | ||||||||||||||
Information related to the change in the allowance for loan losses as of and for the three- and six-months ended June 30, 2013 is as follows: | ||||||||||||||||||||||||
As of and for the six months ended June 30, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 922 | $ | 4,908 | $ | 1,639 | $ | 1,503 | $ | - | $ | 8,972 | ||||||||||||
Charge-offs | 48 | 1,627 | 180 | 64 | - | 1,919 | ||||||||||||||||||
Recoveries | 6 | 12 | 75 | - | - | 93 | ||||||||||||||||||
Provision | 39 | 228 | 113 | 279 | 491 | 1,150 | ||||||||||||||||||
Ending balance | $ | 919 | $ | 3,521 | $ | 1,647 | $ | 1,718 | $ | 491 | $ | 8,296 | ||||||||||||
As of and for the three months ended June 30, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 854 | $ | 3,729 | $ | 1,581 | $ | 1,658 | $ | 414 | $ | 8,236 | ||||||||||||
Charge-offs | 4 | 383 | 142 | 25 | - | 554 | ||||||||||||||||||
Recoveries | 2 | 9 | 3 | - | - | 14 | ||||||||||||||||||
Provision | 67 | 166 | 205 | 85 | 77 | 600 | ||||||||||||||||||
Ending balance | $ | 919 | $ | 3,521 | $ | 1,647 | $ | 1,718 | $ | 491 | $ | 8,296 | ||||||||||||
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
6. Earnings per share | ||||||||||||
Basic earnings per share (EPS) is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed in the same manner as basic EPS but also reflects the potential dilution that could occur from the grant of stock-based compensation awards. The Company maintains two active share-based compensation plans that may generate additional potentially dilutive common shares. For granted and unexercised stock options, dilution would occur if Company-issued stock options were exercised and converted into common stock. As of the three and six months ended June 30, 2014, there were 38 and 27 potentially dilutive shares related to issued and unexercised stock options. There were no potentially dilutive shares related to stock options as of the three and six months ended June 30, 2013. For restricted stock, dilution would occur from the Company’s previously granted but unvested shares. There were 3,631 and 2,932 potentially dilutive shares related to unvested restricted share grants as of the three months ended June 30, 2014 and 2013, respectively. There were 3,665 and 4,172 potentially dilutive shares related to unvested restricted share grants as of the six months ended June 30, 2014 and 2013, respectively. | ||||||||||||
In the computation of diluted EPS, the Company uses the treasury stock method to determine the dilutive effect of its granted but unexercised stock options and unvested restricted stock. Under the treasury stock method, the assumed proceeds, as defined, received from shares issued in a hypothetical stock option exercise or restricted stock grant, are assumed to be used to purchase treasury stock. Proceeds include: amounts received from the exercise of outstanding stock options; compensation cost for future service that the Company has not yet recognized in earnings; and any windfall tax benefits that would be credited directly to shareholders’ equity when the grant generates a tax deduction (or a reduction in proceeds if there is a charge to equity). The Company does not consider awards from share-based grants in the computation of basic EPS. | ||||||||||||
The following table illustrates the data used in computing basic and diluted EPS for the periods indicated: | ||||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
(dollars in thousands except per share data) | ||||||||||||
Basic EPS: | ||||||||||||
Net income available to common shareholders | $ | 1,627 | $ | 1,513 | $ | 3,083 | $ | 2,907 | ||||
Weighted-average common shares outstanding | 2,411,754 | 2,345,763 | 2,405,278 | 2,338,087 | ||||||||
Basic EPS | $ | 0.67 | $ | 0.64 | $ | 1.28 | $ | 1.24 | ||||
Diluted EPS: | ||||||||||||
Net income available to common shareholders | $ | 1,627 | $ | 1,513 | $ | 3,083 | $ | 2,907 | ||||
Weighted-average common shares outstanding | 2,411,754 | 2,345,763 | 2,405,278 | 2,338,087 | ||||||||
Potentially dilutive common shares | 3,669 | 2,932 | 3,692 | 4,172 | ||||||||
Weighted-average common and potentially | ||||||||||||
dilutive shares outstanding | 2,415,423 | 2,348,695 | 2,408,970 | 2,342,259 | ||||||||
Diluted EPS | $ | 0.67 | $ | 0.64 | $ | 1.28 | $ | 1.24 | ||||
Stock_Plans
Stock Plans | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Stock Plans [Abstract] | ' | |||||||||||||
Stock Plans | ' | |||||||||||||
7. Stock plans | ||||||||||||||
The Company has two stock-based compensation plans (the stock compensation plans) from which it can grant stock-based compensation awards, and applies the fair value method of accounting for stock-based compensation provided under current accounting guidance. The guidelines require the cost of share-based payment transactions (including those with employees and non-employees) be recognized in the financial statements. The Company’s stock compensation plans were shareholder-approved and permit the grant of share-based compensation awards to its employees and directors. The Company believes that the stock-based compensation plans will advance the development, growth and financial condition of the Company by providing incentives through participation in the appreciation in the value of the Company’s common stock. In return, the Company hopes to secure, retain and motivate the employees and directors who are responsible for the operation and the management of the affairs of the Company by aligning the interest of its employees and directors with the interest of its shareholders. In the stock compensation plans, employees and directors are eligible to be awarded stock-based compensation grants which can consist of stock options (qualified and non-qualified), stock appreciation rights (SARs) and restricted stock. | ||||||||||||||
At the 2012 annual shareholders’ meeting, the Company’s shareholders approved and the Company adopted the 2012 Omnibus Stock Incentive Plan and the 2012 Director Stock Incentive Plan (collectively, the 2012 stock incentive plans). The 2012 stock incentive plans replaced both the expired 2000 Independent Directors Stock Option Plan and the 2000 Stock Incentive Plan (collectively, the 2000 stock incentive plans). Unless terminated by the Company’s board of directors, the 2012 stock incentive plans will expire on, and no stock-based awards shall be granted after the plans’ tenth anniversary – or in the year 2022. As of June 30, 2014, the Company had 19,000 of previously issued and unexercised stock options outstanding. Also, as of June 30, 2014, the intrinsic value for outstanding stock options with market prices that exceeded their strike price amounted to $1,900. The Company has not issued stock options since 2008. | ||||||||||||||
In each of the 2012 stock incentive plans, the Company has reserved 500,000 shares of its no-par common stock for future issuance. The Company recognizes share-based compensation expense over the requisite service or vesting period. | ||||||||||||||
The following table summarizes the weighted-average fair value and vesting of restricted stock grants awarded during the six months ended June 30, 2014 and 2013 under the 2012 stock incentive plans: | ||||||||||||||
2014 | 2013 | |||||||||||||
Weighted- | Weighted- | |||||||||||||
Shares | average grant | Vesting | Shares | average grant | Vesting | |||||||||
granted | date fair value | period | granted | date fair value | period | |||||||||
Director plan | 2,000 | $ | 27.00 | 1 year | 8,000 | $ | 21.20 | 2 yrs - 50% per year | ||||||
Omnibus plan | 2,120 | 27.00 | 4 yrs - 25% per year | 6,000 | 21.20 | 4 yrs - 25% per year | ||||||||
Total | 4,120 | $ | 27.00 | 14,000 | $ | 21.20 | ||||||||
A summary of the status of the Company’s restricted stock grants as of and changes during the periods indicated are presented in the following table: | ||||||||||||||
2012 Stock incentive plans | ||||||||||||||
Director | Omnibus | Total | ||||||||||||
Balance at December 31, 2013 | 8,000 | 5,000 | 13,000 | |||||||||||
Granted | 2,000 | 2,120 | 4,120 | |||||||||||
Forfeited | - | - | - | |||||||||||
Vested | -4,000 | -1,250 | -5,250 | |||||||||||
Balance at June 30, 2014 | 6,000 | 5,870 | 11,870 | |||||||||||
For restricted stock, intrinsic value represents the closing price of the underlying stock at the end of the period. As of June 30, 2014, the intrinsic value of the Company’s restricted stock under the Director and Omnibus plans was $27.85 per share. | ||||||||||||||
Share-based compensation is included as a component of salaries and employee benefits in the consolidated statements of income. The following tables illustrate stock-based compensation expense recognized during the three- and six-months ended June 30, 2014 and 2013 and the unrecognized stock-based compensation expense as of June 30, 2014: | ||||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Stock-based compensation expense: | ||||||||||||||
Director plan | $ | 35 | $ | 21 | $ | 65 | $ | 35 | ||||||
Omnibus plan | 10 | 9 | 19 | 14 | ||||||||||
Total stock-based compensation expense | $ | 45 | $ | 30 | $ | 84 | $ | 49 | ||||||
As of June 30, | ||||||||||||||
(dollars in thousands) | 2014 | |||||||||||||
Unrecognized stock-based compensation expense: | ||||||||||||||
Director plan | $ | 81 | ||||||||||||
Omnibus plan | 120 | |||||||||||||
Total unrecognized stock-based compensation expense | $ | 201 | ||||||||||||
The unrecognized stock-based compensation expense as of June 30, 2014 will be recognized ratably over the periods ended January 2015 and January 2018 for the Director Plan and the Omnibus Plan, respectively. | ||||||||||||||
In addition to the 2012 stock incentive plans, the Company established the 2002 Employee Stock Purchase Plan (the ESPP) and reserved 110,000 shares of its un-issued capital stock for issuance under the plan. The ESPP was designed to promote broad-based employee ownership of the Company’s stock and to motivate employees to improve job performance and enhance the financial results of the Company. Under the ESPP, participation is voluntary whereby employees use automatic payroll withholdings to purchase the Company’s capital stock at a discounted price based on the fair market value of the capital stock as measured on either the commencement or termination dates, as defined. As of June 30, 2014, 34,329 shares have been issued under the ESPP. The ESPP is considered a compensatory plan and is required to comply with the provisions of current accounting guidance. The Company recognizes compensation expense on its ESPP on the date the shares are purchased. For the six months ended June 30, 2014 and 2013, compensation expense related to the ESPP approximated $33 thousand and $10 thousand, respectively, and is included as a component of salaries and employee benefits in the consolidated statements of income. | ||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||
Fair Value Measurements | ' | ||||||||||||||
8. Fair value measurements | |||||||||||||||
The accounting guidelines establish a framework for measuring and disclosing information about fair value measurements. The guidelines of fair value reporting instituted a valuation hierarchy for disclosure of the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: | |||||||||||||||
Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; | |||||||||||||||
Level 2 - inputs are quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; | |||||||||||||||
Level 3 - inputs are unobservable and are based on the Company’s own assumptions to measure assets and liabilities at fair value. Level 3 pricing for securities may also include unobservable inputs based upon broker-traded transactions. | |||||||||||||||
A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. | |||||||||||||||
The Company uses fair value to measure certain assets and, if necessary, liabilities on a recurring basis when fair value is the primary measure for accounting. Thus, the Company uses fair value for AFS securities. Fair value is used on a non-recurring basis to measure certain assets when adjusting carrying values to market values, such as impaired loans and other real estate owned. | |||||||||||||||
The following table represents the carrying amount and estimated fair value of the Company’s financial instruments as of the periods indicated: | |||||||||||||||
30-Jun-14 | |||||||||||||||
Quoted prices | Significant | Significant | |||||||||||||
in active | other | other | |||||||||||||
Carrying | Estimated | markets | observable inputs | unobservable inputs | |||||||||||
(dollars in thousands) | amount | fair value | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 14,439 | $ | 14,439 | $ | 14,439 | $ | - | $ | - | |||||
Available-for-sale securities | 102,699 | 102,699 | 590 | 102,109 | - | ||||||||||
FHLB stock | 2,954 | 2,954 | - | 2,954 | - | ||||||||||
Loans and leases, net | 486,471 | 487,436 | - | - | 487,436 | ||||||||||
Loans held-for-sale | 1,633 | 1,664 | - | 1,664 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 538,503 | 538,682 | - | 538,682 | - | ||||||||||
Short-term borrowings | 21,872 | 21,872 | - | 21,872 | - | ||||||||||
Long-term debt | 16,000 | 17,598 | - | 17,598 | - | ||||||||||
31-Dec-13 | |||||||||||||||
Quoted prices | Significant | Significant | |||||||||||||
in active | other | other | |||||||||||||
Carrying | Estimated | markets | observable inputs | unobservable inputs | |||||||||||
(dollars in thousands) | amount | fair value | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 13,218 | $ | 13,218 | $ | 13,218 | $ | - | $ | - | |||||
Held-to-maturity securities | 177 | 195 | - | 195 | - | ||||||||||
Available-for-sale securities | 97,246 | 97,246 | 525 | 96,721 | - | ||||||||||
FHLB stock | 2,640 | 2,640 | - | 2,640 | - | ||||||||||
Loans and leases, net | 469,216 | 467,381 | - | - | 467,381 | ||||||||||
Loans held-for-sale | 917 | 937 | - | 937 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 529,698 | 529,968 | - | 529,968 | - | ||||||||||
Short-term borrowings | 8,642 | 8,642 | - | 8,642 | - | ||||||||||
Long-term debt | 16,000 | 17,904 | - | 17,904 | - | ||||||||||
The carrying value of short-term financial instruments, as listed below, approximates their fair value. These instruments generally have limited credit exposure, no stated or short-term maturities, carry interest rates that approximate market and generally are recorded at amounts that are payable on demand : | |||||||||||||||
· | Cash and cash equivalents; | ||||||||||||||
· | Non-interest bearing deposit accounts; | ||||||||||||||
· | Savings, interest-bearing checking and money market accounts and | ||||||||||||||
· | Short-term borrowings. | ||||||||||||||
Securities: Fair values on investment securities are determined by prices provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. | |||||||||||||||
FHLB stock: The Company considers the fair value of FHLB stock equal to its carrying value or cost since there is no market value available and investments in and transactions for the stock are restricted and limited to the FHLB and its member-banks. | |||||||||||||||
Loans: The fair value of loans is estimated by the net present value of the future expected cash flows discounted at current offering rates for similar loans. Current offering rates consider, among other things, credit risk. The carrying value that fair value is compared to is net of the allowance for loan losses and since there is significant judgment included in evaluating credit quality, loans are classified within Level 3 of the fair value hierarchy. | |||||||||||||||
Loans held-for-sale: The fair value of loans held-for-sale is estimated using rates currently offered for similar loans and is typically obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank of Pittsburgh (FHLB). | |||||||||||||||
Certificates of deposit: The fair value of certificates of deposit is based on discounted cash flows using rates which approximate market rates for deposits of similar maturities. | |||||||||||||||
Long-term debt: Fair value is estimated using the rates currently offered for similar borrowings. | |||||||||||||||
The following tables illustrate the financial instruments measured at fair value on a recurring basis segregated by hierarchy fair value levels as of the periods indicated: | |||||||||||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 30-Jun-14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 15,700 | $ | - | $ | 15,700 | $ | - | |||||||
Obligations of states and political subdivisions | 35,106 | - | 35,106 | - | |||||||||||
MBS - GSE residential | 51,303 | - | 51,303 | - | |||||||||||
Equity securities - financial services | 590 | 590 | - | - | |||||||||||
Total available-for-sale securities | $ | 102,699 | $ | 590 | $ | 102,109 | $ | - | |||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 31-Dec-13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 14,601 | $ | - | $ | 14,601 | $ | - | |||||||
Obligations of states and political subdivisions | 32,611 | - | 32,611 | - | |||||||||||
MBS - GSE residential | 49,509 | - | 49,509 | - | |||||||||||
Equity securities - financial services | 525 | 525 | - | - | |||||||||||
Total available-for-sale securities | $ | 97,246 | $ | 525 | $ | 96,721 | $ | - | |||||||
Equity securities in the AFS portfolio are measured at fair value using quoted market prices for identical assets and are classified within Level 1 of the valuation hierarchy. Debt securities in the AFS portfolio are measured at fair value using market quotations provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. Assets classified as Level 2 use valuation techniques that are common to bond valuations. That is, in active markets whereby bonds of similar characteristics frequently trade, quotes for similar assets are obtained. For the six months ended June 30, 2014 and the year ended December 31, 2013, there were no transfers to or from Level 1 and Level 2 fair value measurements for financial assets measured on a recurring basis. | |||||||||||||||
The following table illustrates the changes in Level 3 financial instruments measured at fair value on a recurring basis during the first six months of 2013. Prior to December 31, 2013, Level 3 financial instruments measured at fair value consisted of the Company’s investment in pooled trust preferred securities. The Company sold its entire portfolio of pooled trust preferred securities in the fourth quarter of 2013. See Note 4, “Investment Securities”, and Note 13, “Fair Value Measurements” within the notes to the audited consolidated financial statements, incorporated by reference to the Company’s 2013 Annual Report on Form 10-K, filed with the SEC on March 19, 2014 for an expanded discussion on the Company’s investment, fair value determination and activity of its portfolio of pooled trust preferred securities: | |||||||||||||||
(dollars in thousands) | |||||||||||||||
As of and for the six months ended June 30, 2013 | |||||||||||||||
Balance at beginning of period | $ | 1,825 | |||||||||||||
Realized gains (losses) in earnings | - | ||||||||||||||
Unrealized gains (losses) in OCI: | |||||||||||||||
Gains | 542 | ||||||||||||||
Losses | -124 | ||||||||||||||
Pay down / settlement | -127 | ||||||||||||||
Interest paid-in-kind | 5 | ||||||||||||||
Accretion | 2 | ||||||||||||||
Balance at end of period | $ | 2,123 | |||||||||||||
The following table illustrates the financial instruments measured at fair value on a non-recurring basis segregated by hierarchy fair value levels as of the periods indicated: | |||||||||||||||
Quoted prices in | Significant other | Significant other | |||||||||||||
Total carrying value | active markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | at June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 1,132 | $ | - | $ | - | $ | 1,132 | |||||||
Other real estate owned | 1,738 | - | - | 1,738 | |||||||||||
Total | $ | 2,870 | $ | - | $ | - | $ | 2,870 | |||||||
Quoted prices in | Significant other | Significant other | |||||||||||||
Total carrying value | active markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | at December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 1,152 | $ | - | $ | - | $ | 1,152 | |||||||
Other real estate owned | 1,642 | - | - | 1,642 | |||||||||||
Other repossessed assets | 8 | - | - | 8 | |||||||||||
Total | $ | 2,802 | $ | - | $ | - | $ | 2,802 | |||||||
From time-to-time, the Company may be required to record at fair value financial instruments on a non-recurring basis, such as impaired loans, other real estate owned (ORE) and other repossessed assets. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting on write downs of individual assets. | |||||||||||||||
The following describes valuation methodologies used for financial instruments measured at fair value on a non-recurring basis. | |||||||||||||||
A loan is considered impaired when, based upon current information and events; it is probable that the Company will be unable to collect all scheduled payments in accordance with the contractual terms of the loan. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for loan losses, and as such are carried at the lower of net recorded investment or the estimated fair value. | |||||||||||||||
Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. | |||||||||||||||
Valuation techniques for impaired loans are typically determined through independent appraisals of the underlying collateral or may be determined through present value of discounted cash flows. Both techniques include various Level 3 inputs which are not identifiable. The valuation technique may be adjusted by management for estimated liquidation expenses and qualitative factors such as economic conditions. If real estate is not the primary source of repayment, present value of discounted cash flows and estimates using generally accepted industry liquidation advance rates and other factors may be utilized to determine fair value. For example, from time-to-time, the Company may refer to the National Automobile Dealers Association (NADA) guide to estimate a vehicle’s fair value for an impaired auto loan. At June 30, 2014 and December 31, 2013, the range of liquidation expenses and other valuation adjustments applied to impaired loans ranged from -9.00% to -37.86% and from -16.00% to -36.15%, respectively. The weighted-average of liquidation expenses and other valuation adjustments applied to impaired loans amounted to -28.79% and -24.84% as of June 30, 2014 and December 31, 2013, respectively. Due to the multitude of assumptions, many of which are subjective in nature, and the varying inputs and techniques used to determine fair value, the Company recognizes that valuations could differ across a wide spectrum of techniques employed. Accordingly, fair value estimates for impaired loans are classified as Level 3. | |||||||||||||||
For other real estate owned, fair value is generally determined through independent appraisals of the underlying properties which generally include various Level 3 inputs which are not identifiable. Appraisals form the basis for determining the net realizable value from these properties. Net realizable value is the result of the appraised value less certain costs or discounts associated with liquidation which occurs in the normal course of business. Management’s assumptions may include consideration of the location and occupancy of the property, along with current economic conditions. Subsequently, as these properties are actively marketed, the estimated fair values may be periodically adjusted through incremental subsequent write-downs. These write-downs usually reflect decreases in estimated values resulting from sales price observations as well as changing economic and market conditions. At June 30, 2014 and December 31, 2013, the discounts applied to the appraised value of other real estate owned ranged from -17.35% to -41.50% and from -18.22% to ‑72.17%, respectively. As of June 30, 2014 and December 31, 2013, the weighted-average of discount to the appraisal values for other real estate owned amounted to -28.13% and -30.79%, respectively. | |||||||||||||||
As of June 30, 2014, there were no adjustments to the carrying value of repossessed assets, consisting of automobiles, compared to one automobile at December 31, 2013. The Company refers to the NADA guide to determine a vehicle’s fair value. | |||||||||||||||
Nature_Of_Operations_And_Criti1
Nature Of Operations And Critical Accounting Policies (Policy) | 6 Months Ended |
Jun. 30, 2014 | |
Nature Of Operations And Critical Accounting Policies [Abstract] | ' |
Nature Of Operations | ' |
Nature of operations | |
Fidelity Deposit and Discount Bank (the Bank) is a commercial bank chartered in the Commonwealth of Pennsylvania and a wholly-owned subsidiary of Fidelity D & D Bancorp, Inc. (the Company or collectively, the Company). Having commenced operations in 1903, the Bank is committed to provide superior customer service, while offering a full range of banking products and financial and trust services to both our consumer and commercial customers from our main office located in Dunmore and other branches located throughout Lackawanna and Luzerne Counties. | |
Principles Of Consolidation | ' |
The accompanying unaudited consolidated financial statements of the Company and the Bank have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the instructions to this Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the financial condition and results of operations for the periods have been included. All significant inter-company balances and transactions have been eliminated in consolidation. | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Management is responsible for the fairness, integrity and objectivity of the unaudited financial statements included in this report. Management prepared the unaudited financial statements in accordance with GAAP. In meeting its responsibility for the financial statements, management depends on the Company's accounting systems and related internal controls. These systems and controls are designed to provide reasonable but not absolute assurance that the financial records accurately reflect the transactions of the Company, the Company’s assets are safeguarded and that the financial statements present fairly the financial condition and results of operations of the Company. | |
In the opinion of management, the consolidated balance sheets as of June 30, 2014 and December 31, 2013 and the related consolidated statements of income and consolidated statements of comprehensive income for the three- and six- months ended June 30, 2014 and 2013, and consolidated statements of changes in shareholders’ equity and consolidated statements of cash flows for the six months ended June 30, 2014 and 2013 present fairly the financial condition and results of operations of the Company. All material adjustments required for a fair presentation have been made. These adjustments are of a normal recurring nature. Certain reclassifications have been made to the 2013 financial statements to conform to the 2014 presentation. | |
In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after June 30, 2014 through the date these consolidated financial statements were issued. | |
This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2013, and the notes included therein, included within the Company’s Annual Report filed on Form 10-K. | |
Use Of Estimates | ' |
The presentation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect many of the reported amounts and disclosures. Actual results could differ from these estimates. | |
A material estimate that is particularly susceptible to significant change relates to the determination of the allowance for loan losses. Management believes that the allowance for loan losses at June 30, 2014 is adequate and reasonable. Given the subjective nature of identifying and valuing loan losses, it is likely that well-informed individuals could make different assumptions and could, therefore, calculate a materially different allowance value. While management uses available information to recognize losses on loans, changes in economic conditions may necessitate revisions in the future. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses. Such agencies may require the Company to recognize adjustments to the allowance based on their judgment of information available to them at the time of their examination. | |
Another material estimate is the calculation of fair values of the Company’s investment securities. Fair values of investment securities are determined by pricing provided by a third-party vendor, who is a provider of financial market data, analytics and related services to financial institutions. | |
Investment Securities | ' |
Based on experience, management is aware that estimated fair values of investment securities tend to vary among valuation services. Accordingly, when selling investment securities, price quotes may be obtained from more than one source. The majority of the Company’s investment securities are classified as available-for-sale (AFS). AFS securities are carried at fair value on the consolidated balance sheets, with unrealized gains and losses, net of income tax, reported separately within shareholders’ equity as a component of accumulated other comprehensive income (loss) (OCI). | |
Loans | ' |
Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest income on automobile direct finance leasing is determined using the interest method. Generally, the interest method is used to arrive at a level effective yield over the life of the lease. | |
Loans Held-For-Sale | ' |
The fair value of residential mortgage loans, classified as held-for-sale (HFS), is obtained from the Federal National Mortgage Association (FNMA) or the Federal Home Loan Bank (FHLB). Generally, the market to which the Company sells residential mortgages it originates for sale is restricted and price quotes from other sources are not typically obtained. On occasion, the Company may transfer loans from the loan portfolio to loans HFS. Under these circumstances, pricing may be obtained from other entities and the loans are transferred at the lower of cost or market value and simultaneously sold. As of June 30, 2014 and December 31, 2013, loans classified as HFS consisted of residential mortgage loans. | |
Foreclosed Assets Held-For-Sale | ' |
Foreclosed assets held-for-sale includes other real estate acquired through foreclosure (ORE) and may, from time-to-time, include repossessed assets such as automobiles. ORE is carried at the lower of cost (principal balance at date of foreclosure) or fair value less estimated cost to sell. Any write-downs at the date of foreclosure or within a reasonable period of time after foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain ORE properties, subsequent write downs to the asset’s fair value, any rental income received and gains or losses on disposal are included as components of other real estate owned expense in the consolidated statements of income. | |
Cash Flows | ' |
For purposes of the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. For the six months ended June 30, 2014 and 2013, the Company paid interest of $1.4 million and $1.5 million, respectively. The Company was required to pay income taxes of $0.4 million and $0.9 million during the first six months of 2014 and 2013. Transfers from loans to foreclosed assets held-for-sale amounted to $1.2 million and $1.4 million during the six months ended June 30, 2014 and 2013, respectively. During the same respective periods, transfers from loans to loans HFS amounted to $0 and $2.7 million and from loans to bank premises and equipment amounted to $1.0 million and $0. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of bank premises and equipment. | |
Earnings_Per_Share_Policy
Earnings Per Share (Policy) | 6 Months Ended |
Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share | ' |
Basic earnings per share (EPS) is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed in the same manner as basic EPS but also reflects the potential dilution that could occur from the grant of stock-based compensation awards. The Company maintains two active share-based compensation plans that may generate additional potentially dilutive common shares. For granted and unexercised stock options, dilution would occur if Company-issued stock options were exercised and converted into common stock. As of the three and six months ended June 30, 2014, there were 38 and 27 potentially dilutive shares related to issued and unexercised stock options. There were no potentially dilutive shares related to stock options as of the three and six months ended June 30, 2013. For restricted stock, dilution would occur from the Company’s previously granted but unvested shares. There were 3,631 and 2,932 potentially dilutive shares related to unvested restricted share grants as of the three months ended June 30, 2014 and 2013, respectively. There were 3,665 and 4,172 potentially dilutive shares related to unvested restricted share grants as of the six months ended June 30, 2014 and 2013, respectively. | |
In the computation of diluted EPS, the Company uses the treasury stock method to determine the dilutive effect of its granted but unexercised stock options and unvested restricted stock. Under the treasury stock method, the assumed proceeds, as defined, received from shares issued in a hypothetical stock option exercise or restricted stock grant, are assumed to be used to purchase treasury stock. Proceeds include: amounts received from the exercise of outstanding stock options; compensation cost for future service that the Company has not yet recognized in earnings; and any windfall tax benefits that would be credited directly to shareholders’ equity when the grant generates a tax deduction (or a reduction in proceeds if there is a charge to equity). The Company does not consider awards from share-based grants in the computation of basic EPS. | |
Stock_Plans_Policy
Stock Plans (Policy) | 6 Months Ended |
Jun. 30, 2014 | |
Stock Plans [Abstract] | ' |
Stock Plans | ' |
The Company has two stock-based compensation plans (the stock compensation plans) from which it can grant stock-based compensation awards, and applies the fair value method of accounting for stock-based compensation provided under current accounting guidance. The guidelines require the cost of share-based payment transactions (including those with employees and non-employees) be recognized in the financial statements. The Company’s stock compensation plans were shareholder-approved and permit the grant of share-based compensation awards to its employees and directors. The Company believes that the stock-based compensation plans will advance the development, growth and financial condition of the Company by providing incentives through participation in the appreciation in the value of the Company’s common stock. In return, the Company hopes to secure, retain and motivate the employees and directors who are responsible for the operation and the management of the affairs of the Company by aligning the interest of its employees and directors with the interest of its shareholders. In the stock compensation plans, employees and directors are eligible to be awarded stock-based compensation grants which can consist of stock options (qualified and non-qualified), stock appreciation rights (SARs) and restricted stock. | |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss | ' | |||||||||||||
As of and for the six months ended June 30, 2014 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,239 | $ | - | $ | 1,239 | ||||||||
Other comprehensive income before reclassifications | 1,545 | - | 1,545 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -199 | - | -199 | |||||||||||
Net current-period other comprehensive income | 1,346 | - | 1,346 | |||||||||||
Ending balance | $ | 2,585 | $ | - | $ | 2,585 | ||||||||
As of and for the three months ended June 30, 2014 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,773 | $ | - | $ | 1,773 | ||||||||
Other comprehensive income before reclassifications | 874 | - | 874 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -62 | - | -62 | |||||||||||
Net current-period other comprehensive income | 812 | - | 812 | |||||||||||
Ending balance | $ | 2,585 | $ | - | $ | 2,585 | ||||||||
As of and for the six months ended June 30, 2013 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,905 | $ | -1,669 | $ | 236 | ||||||||
Other comprehensive (loss) income before reclassifications | -1,469 | 35 | -1,434 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -85 | - | -85 | |||||||||||
Net current-period other comprehensive (loss) income | -1,554 | 35 | -1,519 | |||||||||||
Ending balance | $ | 351 | $ | -1,634 | $ | -1,283 | ||||||||
As of and for the three months ended June 30, 2013 | ||||||||||||||
Non-credit-related | ||||||||||||||
Unrealized gains | impairment losses | |||||||||||||
on available-for- | on investment | |||||||||||||
(dollars in thousands) | sale securities | securities | Total | |||||||||||
Beginning balance | $ | 1,551 | $ | -1,695 | $ | -144 | ||||||||
Other comprehensive (loss) income before reclassifications | -1,194 | 61 | -1,133 | |||||||||||
Amounts reclassified from accumulated other comprehensive income | -6 | - | -6 | |||||||||||
Net current-period other comprehensive (loss) income | -1,200 | 61 | -1,139 | |||||||||||
Ending balance | $ | 351 | $ | -1,634 | $ | -1,283 | ||||||||
Reclassification Out Of Accumulated Other Comprehensive Income | ' | |||||||||||||
Details about accumulated other | ||||||||||||||
comprehensive income components | Amount reclassified from accumulated | Affected line item in the statement | ||||||||||||
(dollars in thousands) | other comprehensive income | where net income is presented | ||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Unrealized gains on AFS securities | $ | 94 | $ | 9 | $ | 301 | $ | 128 | Gain on sale, recovery, or disposal of investment securities | |||||
-32 | -3 | -102 | -43 | Provision for income taxes | ||||||||||
Total reclassifications for the period | $ | 62 | $ | 6 | $ | 199 | $ | 85 | Net income | |||||
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||||||||
Unrealized Gain (Loss) On Investments | ' | ||||||||||||||||||
The amortized cost and fair value of investment securities at June 30, 2014 and December 31, 2013 are summarized as follows: | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
30-Jun-14 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | $ | - | $ | - | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 15,591 | $ | 113 | $ | 4 | $ | 15,700 | |||||||||||
Obligations of states and political subdivisions | 33,257 | 1,888 | 39 | 35,106 | |||||||||||||||
MBS - GSE residential | 49,639 | 1,674 | 10 | 51,303 | |||||||||||||||
Total debt securities | 98,487 | 3,675 | 53 | 102,109 | |||||||||||||||
Equity securities - financial services | 295 | 295 | - | 590 | |||||||||||||||
Total available-for-sale securities | $ | 98,782 | $ | 3,970 | $ | 53 | $ | 102,699 | |||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
31-Dec-13 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | 177 | $ | 18 | $ | - | $ | 195 | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 14,667 | $ | 8 | $ | 74 | $ | 14,601 | |||||||||||
Obligations of states and political subdivisions | 32,269 | 912 | 570 | 32,611 | |||||||||||||||
MBS - GSE residential | 48,137 | 1,476 | 104 | 49,509 | |||||||||||||||
Total debt securities | 95,073 | 2,396 | 748 | 96,721 | |||||||||||||||
Equity securities - financial services | 295 | 230 | - | 525 | |||||||||||||||
Total available-for-sale securities | $ | 95,368 | $ | 2,626 | $ | 748 | $ | 97,246 | |||||||||||
Investments Classified By Contractual Maturity Date | ' | ||||||||||||||||||
Amortized | Fair | ||||||||||||||||||
(dollars in thousands) | cost | value | |||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | |||||||||||||||
Available-for-sale securities: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
Due in one year or less | $ | 1,000 | $ | 1,002 | |||||||||||||||
Due after one year through five years | 9,377 | 9,419 | |||||||||||||||||
Due after five years through ten years | 6,451 | 6,637 | |||||||||||||||||
Due after ten years | 32,020 | 33,748 | |||||||||||||||||
Total debt securities | 48,848 | 50,806 | |||||||||||||||||
MBS - GSE residential | 49,639 | 51,303 | |||||||||||||||||
Total available-for-sale debt securities | $ | 98,487 | $ | 102,109 | |||||||||||||||
Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | ||||||||||||||||||
Less than 12 months | More than 12 months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollars in thousands) | value | losses | value | losses | value | losses | |||||||||||||
30-Jun-14 | |||||||||||||||||||
Agency - GSE | $ | 3,064 | $ | 4 | $ | - | $ | - | $ | 3,064 | $ | 4 | |||||||
Obligations of states and political subdivisions | - | - | 2,379 | 39 | 2,379 | 39 | |||||||||||||
MBS - GSE residential | 2,105 | 4 | 1,930 | 6 | 4,035 | 10 | |||||||||||||
Total temporarily impaired securities | $ | 5,169 | $ | 8 | $ | 4,309 | $ | 45 | $ | 9,478 | $ | 53 | |||||||
Number of securities | 4 | 7 | 11 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||
Agency - GSE | $ | 11,592 | $ | 74 | $ | - | $ | - | $ | 11,592 | $ | 74 | |||||||
Obligations of states and political subdivisions | 10,148 | 570 | - | - | 10,148 | 570 | |||||||||||||
MBS - GSE residential | 11,703 | 83 | 3,052 | 21 | 14,755 | 104 | |||||||||||||
Total temporarily impaired securities | $ | 33,443 | $ | 727 | $ | 3,052 | $ | 21 | $ | 36,495 | $ | 748 | |||||||
Number of securities | 38 | 2 | 40 | ||||||||||||||||
Loans_And_Leases_Tables
Loans And Leases (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Loans And Leases [Abstract] | ' | |||||||||||||||||||||||
Loan Classifications | ' | |||||||||||||||||||||||
The classifications of loans and leases at June 30, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||
Commercial and industrial | $ | 76,343 | $ | 74,551 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 92,272 | 89,255 | ||||||||||||||||||||||
Owner occupied | 90,364 | 86,294 | ||||||||||||||||||||||
Construction | 7,167 | 10,765 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 34,459 | 34,480 | ||||||||||||||||||||||
Home equity line of credit | 39,465 | 36,836 | ||||||||||||||||||||||
Auto loans and leases | 26,295 | 22,261 | ||||||||||||||||||||||
Other | 6,751 | 5,205 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 115,082 | 110,365 | ||||||||||||||||||||||
Construction | 7,435 | 8,188 | ||||||||||||||||||||||
Total | 495,633 | 478,200 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan losses | -9,029 | -8,928 | ||||||||||||||||||||||
Unearned lease revenue | -133 | -56 | ||||||||||||||||||||||
Loans and leases, net | $ | 486,471 | $ | 469,216 | ||||||||||||||||||||
Non-Accrual Loans | ' | |||||||||||||||||||||||
Non-accrual loans, segregated by class, at June 30, 2014 and December 31, 2013, were as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | ||||||||||||||||||||||
Commercial and industrial | $ | 27 | $ | 62 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 634 | 1,518 | ||||||||||||||||||||||
Owner occupied | 1,536 | 1,422 | ||||||||||||||||||||||
Construction | 272 | 635 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 481 | 393 | ||||||||||||||||||||||
Home equity line of credit | 516 | 254 | ||||||||||||||||||||||
Auto loans and leases | - | 12 | ||||||||||||||||||||||
Other | 30 | 22 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 576 | 1,350 | ||||||||||||||||||||||
Total | $ | 4,072 | $ | 5,668 | ||||||||||||||||||||
Past Due Loans | ' | |||||||||||||||||||||||
Recorded | ||||||||||||||||||||||||
Past due | investment past | |||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 days | Total | Total | due ≥ 90 days | |||||||||||||||||||
30-Jun-14 | past due | past due | or more * | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 130 | $ | 271 | $ | 27 | $ | 428 | $ | 75,915 | $ | 76,343 | $ | - | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 248 | - | 634 | 882 | 91,390 | 92,272 | - | |||||||||||||||||
Owner occupied | 910 | 405 | 1,536 | 2,851 | 87,513 | 90,364 | - | |||||||||||||||||
Construction | - | - | 272 | 272 | 6,895 | 7,167 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 278 | 81 | 481 | 840 | 33,619 | 34,459 | - | |||||||||||||||||
Home equity line of credit | 10 | - | 516 | 526 | 38,939 | 39,465 | - | |||||||||||||||||
Auto loans and leases | 383 | - | 9 | 392 | 25,770 | 26,162 | 9 | |||||||||||||||||
Other | 17 | 7 | 34 | 58 | 6,693 | 6,751 | 4 | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 185 | 564 | 576 | 1,325 | 113,757 | 115,082 | - | |||||||||||||||||
Construction | - | - | - | - | 7,435 | 7,435 | - | |||||||||||||||||
Total | $ | 2,161 | $ | 1,328 | $ | 4,085 | $ | 7,574 | $ | 487,926 | $ | 495,500 | $ | 13 | ||||||||||
* Includes $4.1 million of non-accrual loans. | ||||||||||||||||||||||||
Recorded | ||||||||||||||||||||||||
Past due | investment past | |||||||||||||||||||||||
30 - 59 Days | 60 - 89 Days | 90 days | Total | Total | due ≥ 90 days | |||||||||||||||||||
31-Dec-13 | past due | past due | or more * | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 111 | $ | 212 | $ | 69 | $ | 392 | $ | 74,159 | $ | 74,551 | $ | 7 | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 484 | 35 | 1,518 | 2,037 | 87,218 | 89,255 | - | |||||||||||||||||
Owner occupied | 1,714 | 545 | 1,422 | 3,681 | 82,613 | 86,294 | - | |||||||||||||||||
Construction | - | - | 635 | 635 | 10,130 | 10,765 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 229 | 72 | 393 | 694 | 33,786 | 34,480 | - | |||||||||||||||||
Home equity line of credit | - | 114 | 275 | 389 | 36,447 | 36,836 | 21 | |||||||||||||||||
Auto loans and leases | 165 | 14 | 23 | 202 | 22,003 | 22,205 | 11 | |||||||||||||||||
Other | 52 | 23 | 22 | 97 | 5,108 | 5,205 | - | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 158 | 1,340 | 1,466 | 2,964 | 107,401 | 110,365 | 116 | |||||||||||||||||
Construction | - | - | - | - | 8,188 | 8,188 | - | |||||||||||||||||
Total | $ | 2,913 | $ | 2,355 | $ | 5,823 | $ | 11,091 | $ | 467,053 | $ | 478,144 | $ | 155 | ||||||||||
* Includes $5.7 million of non-accrual loans. | ||||||||||||||||||||||||
Impaired Loans | ' | |||||||||||||||||||||||
Impaired loans, segregated by class, as of the period indicated are detailed below: | ||||||||||||||||||||||||
Recorded | Recorded | Cash basis | ||||||||||||||||||||||
Unpaid | investment | investment | Total | Average | Interest | interest | ||||||||||||||||||
principal | with | with no | recorded | Related | recorded | income | income | |||||||||||||||||
(dollars in thousands) | balance | allowance | allowance | investment | allowance | investment | recognized | recognized | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Commercial & industrial | $ | 52 | $ | 18 | $ | 34 | $ | 52 | $ | 5 | $ | 84 | $ | 1 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 1,284 | 723 | 387 | 1,110 | 60 | 1,680 | 14 | - | ||||||||||||||||
Owner occupied | 1,925 | 316 | 1,478 | 1,794 | 42 | 1,954 | 6 | - | ||||||||||||||||
Construction | 355 | - | 272 | 272 | - | 565 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 614 | 35 | 446 | 481 | 3 | 433 | - | - | ||||||||||||||||
Home equity line of credit | 533 | - | 516 | 516 | - | 327 | 20 | - | ||||||||||||||||
Auto loans and leases | - | - | - | - | - | 5 | - | - | ||||||||||||||||
Other | 37 | - | 30 | 30 | - | 21 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 657 | 201 | 375 | 576 | 51 | 1,133 | - | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 5,457 | $ | 1,293 | $ | 3,538 | $ | 4,831 | $ | 161 | $ | 6,202 | $ | 41 | $ | - | ||||||||
Recorded | Recorded | Cash basis | ||||||||||||||||||||||
Unpaid | investment | investment | Total | Average | Interest | interest | ||||||||||||||||||
principal | with | with no | recorded | Related | recorded | income | income | |||||||||||||||||
(dollars in thousands) | balance | allowance | allowance | investment | allowance | investment | recognized | recognized | ||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial & industrial | $ | 134 | $ | 64 | $ | 33 | $ | 97 | $ | 31 | $ | 80 | $ | 2 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 2,146 | 174 | 1,827 | 2,001 | 27 | 2,173 | 31 | 78 | ||||||||||||||||
Owner occupied | 2,136 | 622 | 1,327 | 1,949 | 90 | 3,203 | 36 | - | ||||||||||||||||
Construction | 1,024 | - | 635 | 635 | - | 903 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 501 | 125 | 268 | 393 | 23 | 723 | 37 | - | ||||||||||||||||
Home equity line of credit | 340 | - | 254 | 254 | - | 355 | 2 | - | ||||||||||||||||
Auto | 12 | 12 | - | 12 | 1 | 5 | - | - | ||||||||||||||||
Other | 22 | - | 22 | 22 | - | 29 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 1,511 | 437 | 913 | 1,350 | 110 | 1,682 | 71 | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 7,826 | $ | 1,434 | $ | 5,279 | $ | 6,713 | $ | 282 | $ | 9,153 | $ | 179 | $ | 78 | ||||||||
Credit Quality Indicator Loan Categories | ' | |||||||||||||||||||||||
Commercial credit exposure | ||||||||||||||||||||||||
Credit risk profile by creditworthiness category | ||||||||||||||||||||||||
Commercial real estate - | Commercial real estate - | Commercial real estate - | ||||||||||||||||||||||
Commercial and industrial | non-owner occupied | owner occupied | construction | |||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||
Pass | $ | 72,224 | $ | 71,122 | $ | 82,247 | $ | 78,069 | $ | 85,149 | $ | 82,975 | $ | 6,116 | $ | 9,026 | ||||||||
Special mention | 2,597 | 2,244 | 2,687 | 2,734 | 2,283 | 656 | 715 | 1,037 | ||||||||||||||||
Substandard | 1,522 | 1,185 | 7,338 | 8,452 | 2,932 | 2,663 | 336 | 702 | ||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 76,343 | $ | 74,551 | $ | 92,272 | $ | 89,255 | $ | 90,364 | $ | 86,294 | $ | 7,167 | $ | 10,765 | ||||||||
Consumer credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Home equity installment | Home equity line of credit | Auto loans and leases | Other | |||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||
Performing | $ | 33,978 | $ | 34,087 | $ | 38,949 | $ | 36,561 | $ | 26,153 | $ | 22,182 | $ | 6,717 | $ | 5,183 | ||||||||
Non-performing | 481 | 393 | 516 | 275 | 9 | 23 | 34 | 22 | ||||||||||||||||
Total | $ | 34,459 | $ | 34,480 | $ | 39,465 | $ | 36,836 | $ | 26,162 | $ | 22,205 | $ | 6,751 | $ | 5,205 | ||||||||
Mortgage lending credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Residential real estate | Residential construction | |||||||||||||||||||||||
(dollars in thousands) | 6/30/14 | 12/31/13 | 6/30/14 | 12/31/13 | ||||||||||||||||||||
Performing | $ | 114,506 | $ | 108,899 | $ | 7,435 | $ | 8,188 | ||||||||||||||||
Non-performing | 576 | 1,466 | - | - | ||||||||||||||||||||
Total | $ | 115,082 | $ | 110,365 | $ | 7,435 | $ | 8,188 | ||||||||||||||||
Allowance For Loan Losses | ' | |||||||||||||||||||||||
As of and for the six months ended June 30, 2014 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 944 | $ | 4,253 | $ | 1,482 | $ | 1,613 | $ | 636 | $ | 8,928 | ||||||||||||
Charge-offs | 36 | 217 | 240 | 77 | - | 570 | ||||||||||||||||||
Recoveries | 14 | 1 | 22 | 34 | - | 71 | ||||||||||||||||||
Provision | 114 | 305 | 306 | 8 | -133 | 600 | ||||||||||||||||||
Ending balance | $ | 1,036 | $ | 4,342 | $ | 1,570 | $ | 1,578 | $ | 503 | $ | 9,029 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 5 | $ | 102 | $ | 3 | $ | 51 | $ | 161 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,031 | $ | 4,240 | $ | 1,567 | $ | 1,527 | $ | 8,365 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 76,343 | $ | 189,803 | $ | 106,837 | $ | 122,517 | $ | 495,500 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 52 | $ | 3,176 | $ | 1,027 | $ | 576 | $ | 4,831 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 76,291 | $ | 186,627 | $ | 105,810 | $ | 121,941 | $ | 490,669 | ||||||||||||||
As of and for the three months ended June 30, 2014 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 962 | $ | 4,317 | $ | 1,517 | $ | 1,524 | $ | 579 | $ | 8,899 | ||||||||||||
Charge-offs | 8 | 65 | 122 | 18 | - | 213 | ||||||||||||||||||
Recoveries | 3 | - | 6 | 34 | - | 43 | ||||||||||||||||||
Provision | 79 | 90 | 169 | 38 | -76 | 300 | ||||||||||||||||||
Ending balance | $ | 1,036 | $ | 4,342 | $ | 1,570 | $ | 1,578 | $ | 503 | $ | 9,029 | ||||||||||||
As of and for the year ended December 31, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 922 | $ | 4,908 | $ | 1,639 | $ | 1,503 | $ | - | $ | 8,972 | ||||||||||||
Charge-offs | 56 | 2,091 | 400 | 218 | - | 2,765 | ||||||||||||||||||
Recoveries | 30 | 30 | 110 | 1 | - | 171 | ||||||||||||||||||
Provision | 48 | 1,406 | 133 | 327 | 636 | 2,550 | ||||||||||||||||||
Ending balance | $ | 944 | $ | 4,253 | $ | 1,482 | $ | 1,613 | $ | 636 | $ | 8,928 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 31 | $ | 117 | $ | 24 | $ | 110 | $ | 282 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 913 | $ | 4,136 | $ | 1,458 | $ | 1,503 | $ | 8,010 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 74,551 | $ | 186,314 | $ | 98,726 | $ | 118,553 | $ | 478,144 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 97 | $ | 4,585 | $ | 681 | $ | 1,350 | $ | 6,713 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 74,454 | $ | 181,729 | $ | 98,045 | $ | 117,203 | $ | 471,431 | ||||||||||||||
Information related to the change in the allowance for loan losses as of and for the three- and six-months ended June 30, 2013 is as follows: | ||||||||||||||||||||||||
As of and for the six months ended June 30, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 922 | $ | 4,908 | $ | 1,639 | $ | 1,503 | $ | - | $ | 8,972 | ||||||||||||
Charge-offs | 48 | 1,627 | 180 | 64 | - | 1,919 | ||||||||||||||||||
Recoveries | 6 | 12 | 75 | - | - | 93 | ||||||||||||||||||
Provision | 39 | 228 | 113 | 279 | 491 | 1,150 | ||||||||||||||||||
Ending balance | $ | 919 | $ | 3,521 | $ | 1,647 | $ | 1,718 | $ | 491 | $ | 8,296 | ||||||||||||
As of and for the three months ended June 30, 2013 | ||||||||||||||||||||||||
Commercial & | Commercial | Residential | ||||||||||||||||||||||
(dollars in thousands) | industrial | real estate | Consumer | real estate | Unallocated | Total | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
Beginning balance | $ | 854 | $ | 3,729 | $ | 1,581 | $ | 1,658 | $ | 414 | $ | 8,236 | ||||||||||||
Charge-offs | 4 | 383 | 142 | 25 | - | 554 | ||||||||||||||||||
Recoveries | 2 | 9 | 3 | - | - | 14 | ||||||||||||||||||
Provision | 67 | 166 | 205 | 85 | 77 | 600 | ||||||||||||||||||
Ending balance | $ | 919 | $ | 3,521 | $ | 1,647 | $ | 1,718 | $ | 491 | $ | 8,296 | ||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule Of Earnings Per Share, Basic And Diluted | ' | |||||||||||
Three months ended June 30, | Six months ended June 30, | |||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
(dollars in thousands except per share data) | ||||||||||||
Basic EPS: | ||||||||||||
Net income available to common shareholders | $ | 1,627 | $ | 1,513 | $ | 3,083 | $ | 2,907 | ||||
Weighted-average common shares outstanding | 2,411,754 | 2,345,763 | 2,405,278 | 2,338,087 | ||||||||
Basic EPS | $ | 0.67 | $ | 0.64 | $ | 1.28 | $ | 1.24 | ||||
Diluted EPS: | ||||||||||||
Net income available to common shareholders | $ | 1,627 | $ | 1,513 | $ | 3,083 | $ | 2,907 | ||||
Weighted-average common shares outstanding | 2,411,754 | 2,345,763 | 2,405,278 | 2,338,087 | ||||||||
Potentially dilutive common shares | 3,669 | 2,932 | 3,692 | 4,172 | ||||||||
Weighted-average common and potentially | ||||||||||||
dilutive shares outstanding | 2,415,423 | 2,348,695 | 2,408,970 | 2,342,259 | ||||||||
Diluted EPS | $ | 0.67 | $ | 0.64 | $ | 1.28 | $ | 1.24 | ||||
Stock_Plans_Tables
Stock Plans (Tables) | 6 Months Ended | |||||||||||||
Jun. 30, 2014 | ||||||||||||||
Stock Plans [Abstract] | ' | |||||||||||||
Disclosure Of Share-Based Compensation Arrangements By Share-Based Payment Award | ' | |||||||||||||
2014 | 2013 | |||||||||||||
Weighted- | Weighted- | |||||||||||||
Shares | average grant | Vesting | Shares | average grant | Vesting | |||||||||
granted | date fair value | period | granted | date fair value | period | |||||||||
Director plan | 2,000 | $ | 27.00 | 1 year | 8,000 | $ | 21.20 | 2 yrs - 50% per year | ||||||
Omnibus plan | 2,120 | 27.00 | 4 yrs - 25% per year | 6,000 | 21.20 | 4 yrs - 25% per year | ||||||||
Total | 4,120 | $ | 27.00 | 14,000 | $ | 21.20 | ||||||||
Schedule Of Nonvested Restricted Stock Units Activity | ' | |||||||||||||
2012 Stock incentive plans | ||||||||||||||
Director | Omnibus | Total | ||||||||||||
Balance at December 31, 2013 | 8,000 | 5,000 | 13,000 | |||||||||||
Granted | 2,000 | 2,120 | 4,120 | |||||||||||
Forfeited | - | - | - | |||||||||||
Vested | -4,000 | -1,250 | -5,250 | |||||||||||
Balance at June 30, 2014 | 6,000 | 5,870 | 11,870 | |||||||||||
Schedule Of Compensation Cost For Share-Based Payment Arrangements, Allocation Of Share-Based Compensation Costs By Plan | ' | |||||||||||||
Three months ended | Six months ended | |||||||||||||
June 30, | June 30, | |||||||||||||
(dollars in thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Stock-based compensation expense: | ||||||||||||||
Director plan | $ | 35 | $ | 21 | $ | 65 | $ | 35 | ||||||
Omnibus plan | 10 | 9 | 19 | 14 | ||||||||||
Total stock-based compensation expense | $ | 45 | $ | 30 | $ | 84 | $ | 49 | ||||||
Schedule Of Unrecognized Compensation Cost, Nonvested Awards | ' | |||||||||||||
As of June 30, | ||||||||||||||
(dollars in thousands) | 2014 | |||||||||||||
Unrecognized stock-based compensation expense: | ||||||||||||||
Director plan | $ | 81 | ||||||||||||
Omnibus plan | 120 | |||||||||||||
Total unrecognized stock-based compensation expense | $ | 201 | ||||||||||||
The unrecognized stock-based compensation expense as of June 30, 2014 will be recognized ratably over the periods ended January 2015 and January 2018 for the Director Plan and the Omnibus Plan, respectively. | ||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||
Carrying Amount And Estimated Fair Value By Balance Sheet Grouping | ' | ||||||||||||||
The following table represents the carrying amount and estimated fair value of the Company’s financial instruments as of the periods indicated: | |||||||||||||||
30-Jun-14 | |||||||||||||||
Quoted prices | Significant | Significant | |||||||||||||
in active | other | other | |||||||||||||
Carrying | Estimated | markets | observable inputs | unobservable inputs | |||||||||||
(dollars in thousands) | amount | fair value | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 14,439 | $ | 14,439 | $ | 14,439 | $ | - | $ | - | |||||
Available-for-sale securities | 102,699 | 102,699 | 590 | 102,109 | - | ||||||||||
FHLB stock | 2,954 | 2,954 | - | 2,954 | - | ||||||||||
Loans and leases, net | 486,471 | 487,436 | - | - | 487,436 | ||||||||||
Loans held-for-sale | 1,633 | 1,664 | - | 1,664 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 538,503 | 538,682 | - | 538,682 | - | ||||||||||
Short-term borrowings | 21,872 | 21,872 | - | 21,872 | - | ||||||||||
Long-term debt | 16,000 | 17,598 | - | 17,598 | - | ||||||||||
31-Dec-13 | |||||||||||||||
Quoted prices | Significant | Significant | |||||||||||||
in active | other | other | |||||||||||||
Carrying | Estimated | markets | observable inputs | unobservable inputs | |||||||||||
(dollars in thousands) | amount | fair value | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Financial assets: | |||||||||||||||
Cash and cash equivalents | $ | 13,218 | $ | 13,218 | $ | 13,218 | $ | - | $ | - | |||||
Held-to-maturity securities | 177 | 195 | - | 195 | - | ||||||||||
Available-for-sale securities | 97,246 | 97,246 | 525 | 96,721 | - | ||||||||||
FHLB stock | 2,640 | 2,640 | - | 2,640 | - | ||||||||||
Loans and leases, net | 469,216 | 467,381 | - | - | 467,381 | ||||||||||
Loans held-for-sale | 917 | 937 | - | 937 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 529,698 | 529,968 | - | 529,968 | - | ||||||||||
Short-term borrowings | 8,642 | 8,642 | - | 8,642 | - | ||||||||||
Long-term debt | 16,000 | 17,904 | - | 17,904 | - | ||||||||||
Fair Value, Assets And Liabilities Measured On Recurring Basis | ' | ||||||||||||||
The following tables illustrate the financial instruments measured at fair value on a recurring basis segregated by hierarchy fair value levels as of the periods indicated: | |||||||||||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 30-Jun-14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 15,700 | $ | - | $ | 15,700 | $ | - | |||||||
Obligations of states and political subdivisions | 35,106 | - | 35,106 | - | |||||||||||
MBS - GSE residential | 51,303 | - | 51,303 | - | |||||||||||
Equity securities - financial services | 590 | 590 | - | - | |||||||||||
Total available-for-sale securities | $ | 102,699 | $ | 590 | $ | 102,109 | $ | - | |||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 31-Dec-13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 14,601 | $ | - | $ | 14,601 | $ | - | |||||||
Obligations of states and political subdivisions | 32,611 | - | 32,611 | - | |||||||||||
MBS - GSE residential | 49,509 | - | 49,509 | - | |||||||||||
Equity securities - financial services | 525 | 525 | - | - | |||||||||||
Total available-for-sale securities | $ | 97,246 | $ | 525 | $ | 96,721 | $ | - | |||||||
Changes In Level 3 Financial Instruments | ' | ||||||||||||||
(dollars in thousands) | |||||||||||||||
As of and for the six months ended June 30, 2013 | |||||||||||||||
Balance at beginning of period | $ | 1,825 | |||||||||||||
Realized gains (losses) in earnings | - | ||||||||||||||
Unrealized gains (losses) in OCI: | |||||||||||||||
Gains | 542 | ||||||||||||||
Losses | -124 | ||||||||||||||
Pay down / settlement | -127 | ||||||||||||||
Interest paid-in-kind | 5 | ||||||||||||||
Accretion | 2 | ||||||||||||||
Balance at end of period | $ | 2,123 | |||||||||||||
Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels | ' | ||||||||||||||
The following table illustrates the financial instruments measured at fair value on a non-recurring basis segregated by hierarchy fair value levels as of the periods indicated: | |||||||||||||||
Quoted prices in | Significant other | Significant other | |||||||||||||
Total carrying value | active markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | at June 30, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 1,132 | $ | - | $ | - | $ | 1,132 | |||||||
Other real estate owned | 1,738 | - | - | 1,738 | |||||||||||
Total | $ | 2,870 | $ | - | $ | - | $ | 2,870 | |||||||
Quoted prices in | Significant other | Significant other | |||||||||||||
Total carrying value | active markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | at December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 1,152 | $ | - | $ | - | $ | 1,152 | |||||||
Other real estate owned | 1,642 | - | - | 1,642 | |||||||||||
Other repossessed assets | 8 | - | - | 8 | |||||||||||
Total | $ | 2,802 | $ | - | $ | - | $ | 2,802 | |||||||
Nature_Of_Operations_And_Criti2
Nature Of Operations And Critical Accounting Policies (Narrative) (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Nature Of Operations And Critical Accounting Policies [Abstract] | ' | ' |
Year founded | '1903 | ' |
Interest paid | $1.40 | $1.50 |
Income taxes paid | 0.4 | 0.9 |
Transfers from loans to foreclosed assets held-for-sale | 1.2 | 1.4 |
Transfers from loans to loans held-for-sale | 0 | 2.7 |
Transfers from loans to bank premises and equipment | $1 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $1,773 | ($144) | $1,239 | $236 | $236 |
Other comprehensive (loss) income before reclassifications | 874 | -1,133 | 1,545 | -1,434 | ' |
Amounts reclassified from accumulated other comprehensive income | -62 | -6 | -199 | -85 | ' |
Other comprehensive income (loss) | 812 | -1,139 | 1,346 | -1,519 | ' |
Ending balance | 2,585 | -1,283 | 2,585 | -1,283 | 1,239 |
Federal statutory income tax rate | 34.00% | 34.00% | 34.00% | 34.00% | 34.00% |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 1,773 | 1,551 | 1,239 | 1,905 | 1,905 |
Other comprehensive (loss) income before reclassifications | 874 | -1,194 | 1,545 | -1,469 | ' |
Amounts reclassified from accumulated other comprehensive income | -62 | -6 | -199 | -85 | ' |
Other comprehensive income (loss) | 812 | -1,200 | 1,346 | -1,554 | ' |
Ending balance | 2,585 | 351 | 2,585 | 351 | ' |
Accumulated Other-than-Temporary Impairment [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | -1,695 | ' | -1,669 | -1,669 |
Other comprehensive (loss) income before reclassifications | ' | 61 | ' | 35 | ' |
Other comprehensive income (loss) | ' | 61 | ' | 35 | ' |
Ending balance | ' | ($1,634) | ' | ($1,634) | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Schedule Of Reclassifications From Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain on sale, recovery, or disposal of investment securities | $94 | $9 | $301 | $128 |
(Provision) credit for income taxes | -557 | -512 | -1,049 | -988 |
Net income | 1,627 | 1,513 | 3,083 | 2,907 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification Out Of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain on sale, recovery, or disposal of investment securities | 94 | 9 | 301 | 128 |
(Provision) credit for income taxes | -32 | -3 | -102 | -43 |
Net income | $62 | $6 | $199 | $85 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Agency - GSE [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale securities, qualitative disclosure, nature | 'Agency - GSE and MBS - GSE residential Agency b GSE and MBS b GSE residential securities consist of short- to long-term notes issued by Federal Home Loan Mortgage Corporation (FHLMC), Federal National Mortgage Association (FNMA), Federal Home Loan Bank (FHLB) and Government National Mortgage Association (GNMA). These securities have interest rates that are fixed and adjustable, have varying short- to long-term maturity dates and have contractual cash flows guaranteed by the U.S. government or agencies of the U.S. government. |
Obligations Of States And Political Subdivisions [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Available-for-sale securities, qualitative disclosure, nature | 'Obligations of states and political subdivisions The municipal securities are bank qualified or bank eligible, general obligation and revenue bonds rated as investment grade by various credit rating agencies and have fixed rates of interest with mid- to long-term maturities. Fair values of these securities are highly driven by interest rates. Management performs ongoing credit quality reviews on these issues. |
Investment_Securities_Unrealiz
Investment Securities (Unrealized Gain/Loss On Investments Table) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Held-to-maturity Securities, Amortized Cost | ' | $177 |
Held-to-maturity securities | 0 | 195 |
Total Available-for-sale securities, Amortized cost | 98,782 | 95,368 |
Available-for-sale securities, Gross unrealized gains | 3,970 | 2,626 |
Available-for-sale securities, Gross unrealized losses | 53 | 748 |
Total Available-for-sale securities, Fair value | 102,699 | 97,246 |
Agency - GSE [Member] | ' | ' |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Available-for-sale securities, Amortized cost | 15,591 | 14,667 |
Available-for-sale securities, Gross unrealized gains | 113 | 8 |
Available-for-sale securities, Gross unrealized losses | 4 | 74 |
Total Available-for-sale securities, Fair value | 15,700 | 14,601 |
Obligations Of States And Political Subdivisions [Member] | ' | ' |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Available-for-sale securities, Amortized cost | 33,257 | 32,269 |
Available-for-sale securities, Gross unrealized gains | 1,888 | 912 |
Available-for-sale securities, Gross unrealized losses | 39 | 570 |
Total Available-for-sale securities, Fair value | 35,106 | 32,611 |
MBS - GSE Residential [Member] | ' | ' |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Held-to-maturity Securities, Amortized Cost | ' | 177 |
Held-to-maturity securities, Gross unrealized gains | ' | 18 |
Held-to-maturity securities | ' | 195 |
Total Available-for-sale securities, Amortized cost | 49,639 | 48,137 |
Available-for-sale securities, Gross unrealized gains | 1,674 | 1,476 |
Available-for-sale securities, Gross unrealized losses | 10 | 104 |
Total Available-for-sale securities, Fair value | 51,303 | 49,509 |
Debt Securities [Member] | ' | ' |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Available-for-sale securities, Amortized cost | 98,487 | 95,073 |
Available-for-sale securities, Gross unrealized gains | 3,675 | 2,396 |
Available-for-sale securities, Gross unrealized losses | 53 | 748 |
Total Available-for-sale securities, Fair value | 102,109 | 96,721 |
Equity Securities - Financial Services [Member] | ' | ' |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ' | ' |
Total Available-for-sale securities, Amortized cost | 295 | 295 |
Available-for-sale securities, Gross unrealized gains | 295 | 230 |
Total Available-for-sale securities, Fair value | $590 | $525 |
Investment_Securities_Investme
Investment Securities (Investment Classified By Contractual Maturity Date Table) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Investment Securities [Abstract] | ' |
Amortized cost: Due in one year or less | $1,000 |
Amortized cost: Due after one year through five years | 9,377 |
Amortized cost: Due after five years through ten years | 6,451 |
Amortized cost: Due after ten years | 32,020 |
Total debt securities, Amortized Cost | 48,848 |
MBS - GSE residental, Amortized cost | 49,639 |
Total available-for-sale securities, Amortized cost | 98,487 |
Fair value: Due in one year or less | 1,002 |
Fair value: Due after one year through five years | 9,419 |
Fair value: Due after five years through ten years | 6,637 |
Fair value: Due after ten years | 33,748 |
Total debt securities, Fair value | 50,806 |
MBS - GSE residental, Fair value | 51,303 |
Total available-for-sale securities, Fair value | $102,109 |
Investment_Securities_Availabl
Investment Securities (Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value Table) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | security | security |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair value | $5,169 | $33,443 |
Less than 12 months: Unrealized losses | 8 | 727 |
More than 12 months: Fair value | 4,309 | 3,052 |
More than 12 months: Unrealized losses | 45 | 21 |
Total: Fair value | 9,478 | 36,495 |
Total: Unrealized losses | 53 | 748 |
Less than 12 months: Number of securities | 4 | 38 |
More than 12 months: Number of securities | 7 | 2 |
Total: Number of securities | 11 | 40 |
Agency - GSE [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair value | 3,064 | 11,592 |
Less than 12 months: Unrealized losses | 4 | 74 |
Total: Fair value | 3,064 | 11,592 |
Total: Unrealized losses | 4 | 74 |
Obligations Of States And Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair value | ' | 10,148 |
Less than 12 months: Unrealized losses | ' | 570 |
More than 12 months: Fair value | 2,379 | ' |
More than 12 months: Unrealized losses | 39 | ' |
Total: Fair value | 2,379 | 10,148 |
Total: Unrealized losses | 39 | 570 |
MBS - GSE Residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less than 12 months: Fair value | 2,105 | 11,703 |
Less than 12 months: Unrealized losses | 4 | 83 |
More than 12 months: Fair value | 1,930 | 3,052 |
More than 12 months: Unrealized losses | 6 | 21 |
Total: Fair value | 4,035 | 14,755 |
Total: Unrealized losses | $10 | $104 |
Loans_And_Leases_Narrative_Det
Loans And Leases (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
Troubled Debt Status [Member] | Troubled Debt Status [Member] | Impaired Loan Status [Member] | Impaired Loan Status [Member] | Nonaccrual Status [Member] | Nonaccrual Status [Member] | Accruing TDR Balance [Member] | Accruing TDR Balance [Member] | |||
loan | loan | loan | loan | loan | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred loan costs | $1,200,000 | $1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgages serviced | 251,500,000 | 250,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled Debt Restructuring balance | ' | ' | 1,700,000 | 2,000,000 | ' | ' | 900,000 | 1,000,000 | 800,000 | 1,000,000 |
Non-accrual balance | $4,072,000 | $5,668,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of contracts modified | ' | ' | 5 | 7 | 0 | 0 | 1 | ' | ' | ' |
Loans_And_Leases_Loan_Classifi
Loans And Leases (Loan Classifications) (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | $495,633 | ' | $478,200 | ' | ' | ' |
Less: Allowance for loan losses | -9,029 | -8,899 | -8,928 | -8,296 | -8,236 | -8,972 |
Less: Unearned lease revenue | -133 | ' | -56 | ' | ' | ' |
Loans and leases, net | 486,471 | ' | 469,216 | ' | ' | ' |
Commercial & Industrial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 76,343 | ' | 74,551 | ' | ' | ' |
Less: Allowance for loan losses | -1,036 | -962 | -944 | -919 | -854 | -922 |
Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 92,272 | ' | 89,255 | ' | ' | ' |
Commercial Real Estate: Owner Occupied [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 90,364 | ' | 86,294 | ' | ' | ' |
Commercial Real Estate: Construction [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 7,167 | ' | 10,765 | ' | ' | ' |
Consumer: Home Equity Installment [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 34,459 | ' | 34,480 | ' | ' | ' |
Consumer: Home Equity Line Of Credit [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 39,465 | ' | 36,836 | ' | ' | ' |
Consumer: Auto Loans And Leases [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 26,295 | ' | 22,261 | ' | ' | ' |
Consumer: Other [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 6,751 | ' | 5,205 | ' | ' | ' |
Residential: Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | 115,082 | ' | 110,365 | ' | ' | ' |
Residential: Construction [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total | $7,435 | ' | $8,188 | ' | ' | ' |
Loans_And_Leases_NonAccrual_Lo
Loans And Leases (Non-Accrual Loans) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | $4,072 | $5,668 |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 27 | 62 |
Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 634 | 1,518 |
Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 1,536 | 1,422 |
Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 272 | 635 |
Consumer: Home Equity Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 481 | 393 |
Consumer: Home Equity Line Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 516 | 254 |
Consumer: Auto Loans And Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | ' | 12 |
Consumer: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 30 | 22 |
Residential: Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | $576 | $1,350 |
Loans_And_Leases_Past_Due_Loan
Loans And Leases (Past Due Loans) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | $2,161 | $2,913 | ||
60 - 89 Days past due | 1,328 | 2,355 | ||
Past due 90 days or more | 4,085 | [1] | 5,823 | [2] |
Total past due | 7,574 | 11,091 | ||
Current | 487,926 | 467,053 | ||
Total loans | 495,500 | 478,144 | ||
Recorded investment past due > days and accruing | 13 | 155 | ||
Non-accrual loans | 4,072 | 5,668 | ||
Commercial & Industrial [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 130 | 111 | ||
60 - 89 Days past due | 271 | 212 | ||
Past due 90 days or more | 27 | [1] | 69 | [2] |
Total past due | 428 | 392 | ||
Current | 75,915 | 74,159 | ||
Total loans | 76,343 | 74,551 | ||
Recorded investment past due > days and accruing | ' | 7 | ||
Non-accrual loans | 27 | 62 | ||
Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 248 | 484 | ||
60 - 89 Days past due | ' | 35 | ||
Past due 90 days or more | 634 | [1] | 1,518 | [2] |
Total past due | 882 | 2,037 | ||
Current | 91,390 | 87,218 | ||
Total loans | 92,272 | 89,255 | ||
Non-accrual loans | 634 | 1,518 | ||
Commercial Real Estate: Owner Occupied [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 910 | 1,714 | ||
60 - 89 Days past due | 405 | 545 | ||
Past due 90 days or more | 1,536 | [1] | 1,422 | [2] |
Total past due | 2,851 | 3,681 | ||
Current | 87,513 | 82,613 | ||
Total loans | 90,364 | 86,294 | ||
Non-accrual loans | 1,536 | 1,422 | ||
Commercial Real Estate: Construction [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Past due 90 days or more | 272 | [1] | 635 | [2] |
Total past due | 272 | 635 | ||
Current | 6,895 | 10,130 | ||
Total loans | 7,167 | 10,765 | ||
Non-accrual loans | 272 | 635 | ||
Consumer: Home Equity Installment [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 278 | 229 | ||
60 - 89 Days past due | 81 | 72 | ||
Past due 90 days or more | 481 | [1] | 393 | [2] |
Total past due | 840 | 694 | ||
Current | 33,619 | 33,786 | ||
Total loans | 34,459 | 34,480 | ||
Non-accrual loans | 481 | 393 | ||
Consumer: Home Equity Line Of Credit [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 10 | ' | ||
60 - 89 Days past due | ' | 114 | ||
Past due 90 days or more | 516 | [1] | 275 | [2] |
Total past due | 526 | 389 | ||
Current | 38,939 | 36,447 | ||
Total loans | 39,465 | 36,836 | ||
Recorded investment past due > days and accruing | ' | 21 | ||
Non-accrual loans | 516 | 254 | ||
Consumer: Auto Loans And Leases [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 383 | 165 | ||
60 - 89 Days past due | ' | 14 | ||
Past due 90 days or more | 9 | [1] | 23 | [2] |
Total past due | 392 | 202 | ||
Current | 25,770 | 22,003 | ||
Total loans | 26,162 | 22,205 | ||
Recorded investment past due > days and accruing | 9 | 11 | ||
Non-accrual loans | ' | 12 | ||
Consumer: Other [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 17 | 52 | ||
60 - 89 Days past due | 7 | 23 | ||
Past due 90 days or more | 34 | [1] | 22 | [2] |
Total past due | 58 | 97 | ||
Current | 6,693 | 5,108 | ||
Total loans | 6,751 | 5,205 | ||
Recorded investment past due > days and accruing | 4 | ' | ||
Non-accrual loans | 30 | 22 | ||
Residential: Real Estate [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days past due | 185 | 158 | ||
60 - 89 Days past due | 564 | 1,340 | ||
Past due 90 days or more | 576 | [1] | 1,466 | [2] |
Total past due | 1,325 | 2,964 | ||
Current | 113,757 | 107,401 | ||
Total loans | 115,082 | 110,365 | ||
Recorded investment past due > days and accruing | ' | 116 | ||
Non-accrual loans | 576 | 1,350 | ||
Residential: Construction [Member] | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
Current | 7,435 | 8,188 | ||
Total loans | $7,435 | $8,188 | ||
[1] | Includes $4.1 million of non-accrual loans. | |||
[2] | Includes $5.7 million of non-accrual loans. |
Loans_And_Leases_Impaired_Loan
Loans And Leases (Impaired Loans) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | $5,457 | $7,826 |
Recorded investment with allowance | 1,293 | 1,434 |
Recorded investment with no allowance | 3,538 | 5,279 |
Total recorded investment | 4,831 | 6,713 |
Related allowance | 161 | 282 |
Average recorded investment | 6,202 | 9,153 |
Interest income recognized | 41 | 179 |
Cash basis interest income recognized | ' | 78 |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 52 | 134 |
Recorded investment with allowance | 18 | 64 |
Recorded investment with no allowance | 34 | 33 |
Total recorded investment | 52 | 97 |
Related allowance | 5 | 31 |
Average recorded investment | 84 | 80 |
Interest income recognized | 1 | 2 |
Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 1,284 | 2,146 |
Recorded investment with allowance | 723 | 174 |
Recorded investment with no allowance | 387 | 1,827 |
Total recorded investment | 1,110 | 2,001 |
Related allowance | 60 | 27 |
Average recorded investment | 1,680 | 2,173 |
Interest income recognized | 14 | 31 |
Cash basis interest income recognized | ' | 78 |
Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 1,925 | 2,136 |
Recorded investment with allowance | 316 | 622 |
Recorded investment with no allowance | 1,478 | 1,327 |
Total recorded investment | 1,794 | 1,949 |
Related allowance | 42 | 90 |
Average recorded investment | 1,954 | 3,203 |
Interest income recognized | 6 | 36 |
Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 355 | 1,024 |
Recorded investment with no allowance | 272 | 635 |
Total recorded investment | 272 | 635 |
Average recorded investment | 565 | 903 |
Consumer: Home Equity Installment [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 614 | 501 |
Recorded investment with allowance | 35 | 125 |
Recorded investment with no allowance | 446 | 268 |
Total recorded investment | 481 | 393 |
Related allowance | 3 | 23 |
Average recorded investment | 433 | 723 |
Interest income recognized | ' | 37 |
Consumer: Home Equity Line Of Credit [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 533 | 340 |
Recorded investment with no allowance | 516 | 254 |
Total recorded investment | 516 | 254 |
Average recorded investment | 327 | 355 |
Interest income recognized | 20 | 2 |
Consumer: Auto Loans And Leases [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | ' | 12 |
Recorded investment with allowance | ' | 12 |
Total recorded investment | ' | 12 |
Related allowance | ' | 1 |
Average recorded investment | 5 | 5 |
Consumer: Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 37 | 22 |
Recorded investment with no allowance | 30 | 22 |
Total recorded investment | 30 | 22 |
Average recorded investment | 21 | 29 |
Residential: Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid principal balance | 657 | 1,511 |
Recorded investment with allowance | 201 | 437 |
Recorded investment with no allowance | 375 | 913 |
Total recorded investment | 576 | 1,350 |
Related allowance | 51 | 110 |
Average recorded investment | 1,133 | 1,682 |
Interest income recognized | ' | $71 |
Loans_And_Leases_Credit_Qualit
Loans And Leases (Credit Quality Indicator Loan Categories) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | $76,343 | $74,551 |
Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 92,272 | 89,255 |
Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 90,364 | 86,294 |
Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 7,167 | 10,765 |
Consumer: Home Equity Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 34,459 | 34,480 |
Consumer: Home Equity Line Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 39,465 | 36,836 |
Consumer: Auto Loans And Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 26,162 | 22,205 |
Consumer: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 6,751 | 5,205 |
Residential: Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 115,082 | 110,365 |
Residential: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 7,435 | 8,188 |
Pass [Member] | Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 72,224 | 71,122 |
Pass [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 82,247 | 78,069 |
Pass [Member] | Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 85,149 | 82,975 |
Pass [Member] | Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 6,116 | 9,026 |
Special mention [Member] | Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 2,597 | 2,244 |
Special mention [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 2,687 | 2,734 |
Special mention [Member] | Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 2,283 | 656 |
Special mention [Member] | Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 715 | 1,037 |
Substandard [Member] | Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 1,522 | 1,185 |
Substandard [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 7,338 | 8,452 |
Substandard [Member] | Commercial Real Estate: Owner Occupied [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 2,932 | 2,663 |
Substandard [Member] | Commercial Real Estate: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 336 | 702 |
Performing [Member] | Consumer: Home Equity Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 33,978 | 34,087 |
Performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 38,949 | 36,561 |
Performing [Member] | Consumer: Auto Loans And Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 26,153 | 22,182 |
Performing [Member] | Consumer: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 6,717 | 5,183 |
Performing [Member] | Residential: Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 114,506 | 108,899 |
Performing [Member] | Residential: Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 7,435 | 8,188 |
Non-performing [Member] | Consumer: Home Equity Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 481 | 393 |
Non-performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 516 | 275 |
Non-performing [Member] | Consumer: Auto Loans And Leases [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 9 | 23 |
Non-performing [Member] | Consumer: Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | 34 | 22 |
Non-performing [Member] | Residential: Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable, net | $576 | $1,466 |
Loans_And_Leases_Allowance_For
Loans And Leases (Allowance For Loan Losses) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | $8,899 | $8,236 | $8,928 | $8,972 | $8,972 |
Charge-offs | 213 | 554 | 570 | 1,919 | 2,765 |
Recoveries | 43 | 14 | 71 | 93 | 171 |
Provisions | 300 | 600 | 600 | 1,150 | 2,550 |
Allowance for Loan Losses: Ending balance | 9,029 | 8,296 | 9,029 | 8,296 | 8,928 |
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 161 | ' | 161 | ' | 282 |
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 8,365 | ' | 8,365 | ' | 8,010 |
Loan Receivables: Ending balance | 495,500 | ' | 495,500 | ' | 478,144 |
Loans Receivable: Ending balance: individually evaluated for impairment | 4,831 | ' | 4,831 | ' | 6,713 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 490,669 | ' | 490,669 | ' | 471,431 |
Commercial & Industrial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | 962 | 854 | 944 | 922 | 922 |
Charge-offs | 8 | 4 | 36 | 48 | 56 |
Recoveries | 3 | 2 | 14 | 6 | 30 |
Provisions | 79 | 67 | 114 | 39 | 48 |
Allowance for Loan Losses: Ending balance | 1,036 | 919 | 1,036 | 919 | 944 |
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 5 | ' | 5 | ' | 31 |
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,031 | ' | 1,031 | ' | 913 |
Loan Receivables: Ending balance | 76,343 | ' | 76,343 | ' | 74,551 |
Loans Receivable: Ending balance: individually evaluated for impairment | 52 | ' | 52 | ' | 97 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 76,291 | ' | 76,291 | ' | 74,454 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | 4,317 | 3,729 | 4,253 | 4,908 | 4,908 |
Charge-offs | 65 | 383 | 217 | 1,627 | 2,091 |
Recoveries | ' | 9 | 1 | 12 | 30 |
Provisions | 90 | 166 | 305 | 228 | 1,406 |
Allowance for Loan Losses: Ending balance | 4,342 | 3,521 | 4,342 | 3,521 | 4,253 |
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 102 | ' | 102 | ' | 117 |
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 4,240 | ' | 4,240 | ' | 4,136 |
Loan Receivables: Ending balance | 189,803 | ' | 189,803 | ' | 186,314 |
Loans Receivable: Ending balance: individually evaluated for impairment | 3,176 | ' | 3,176 | ' | 4,585 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 186,627 | ' | 186,627 | ' | 181,729 |
Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | 1,517 | 1,581 | 1,482 | 1,639 | 1,639 |
Charge-offs | 122 | 142 | 240 | 180 | 400 |
Recoveries | 6 | 3 | 22 | 75 | 110 |
Provisions | 169 | 205 | 306 | 113 | 133 |
Allowance for Loan Losses: Ending balance | 1,570 | 1,647 | 1,570 | 1,647 | 1,482 |
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 3 | ' | 3 | ' | 24 |
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,567 | ' | 1,567 | ' | 1,458 |
Loan Receivables: Ending balance | 106,837 | ' | 106,837 | ' | 98,726 |
Loans Receivable: Ending balance: individually evaluated for impairment | 1,027 | ' | 1,027 | ' | 681 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 105,810 | ' | 105,810 | ' | 98,045 |
Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | 1,524 | 1,658 | 1,613 | 1,503 | 1,503 |
Charge-offs | 18 | 25 | 77 | 64 | 218 |
Recoveries | 34 | ' | 34 | ' | 1 |
Provisions | 38 | 85 | 8 | 279 | 327 |
Allowance for Loan Losses: Ending balance | 1,578 | 1,718 | 1,578 | 1,718 | 1,613 |
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 51 | ' | 51 | ' | 110 |
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,527 | ' | 1,527 | ' | 1,503 |
Loan Receivables: Ending balance | 122,517 | ' | 122,517 | ' | 118,553 |
Loans Receivable: Ending balance: individually evaluated for impairment | 576 | ' | 576 | ' | 1,350 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 121,941 | ' | 121,941 | ' | 117,203 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses: Beginning balance | 579 | 414 | 636 | ' | ' |
Provisions | -76 | 77 | -133 | 491 | 636 |
Allowance for Loan Losses: Ending balance | $503 | $491 | $503 | $491 | $636 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
item | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Number of active share-based compensation plans | ' | ' | 2 | ' |
Potentially dilutive common shares | 3,669 | 2,932 | 3,692 | 4,172 |
Employee Stock Option [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Potentially dilutive common shares | 38 | 0 | 27 | 0 |
Restricted Stock [Member] | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Potentially dilutive common shares | 3,631 | 2,932 | 3,665 | 4,172 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income (loss) available to common shareholders | $1,627 | $1,513 | $3,083 | $2,907 |
Weighted-average common shares outstanding | 2,411,754 | 2,345,763 | 2,405,278 | 2,338,087 |
Basic EPS | $0.67 | $0.64 | $1.28 | $1.24 |
Potentially dilutive common shares | 3,669 | 2,932 | 3,692 | 4,172 |
Weighted-average common and potentially dilutive shares outstanding | 2,415,423 | 2,348,695 | 2,408,970 | 2,342,259 |
Diluted EPS | $0.67 | $0.64 | $1.28 | $1.24 |
Stock_Plans_Narrative_Details
Stock Plans (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
item | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of active share-based compensation plans | ' | ' | 2 | ' |
Intrinsic value, amount per share | $27.85 | ' | $27.85 | ' |
Allocated compensation expense | $45,000 | $30,000 | $84,000 | $49,000 |
Director Stock Incentive Plan - 2012 [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized | 500,000 | ' | 500,000 | ' |
Allocated compensation expense | 35,000 | 21,000 | 65,000 | 35,000 |
The 2012 Omnibus Stock Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized | 500,000 | ' | 500,000 | ' |
Allocated compensation expense | 10,000 | 9,000 | 19,000 | 14,000 |
The 2000 Stock Option Plans [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unexercised stock options | 19,000 | ' | 19,000 | ' |
Unexercised stock options, intrinsic value | 1,900 | ' | 1,900 | ' |
Employee Stock Purchase Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of shares authorized | 110,000 | ' | 110,000 | ' |
Number of shares issued | ' | ' | 34,329 | ' |
Allocated compensation expense | ' | ' | $33,000 | $10,000 |
Stock_Plans_Disclosure_Of_Shar
Stock Plans (Disclosure Of Share-Based Compensation Arrangements By Share-based Payment Award) (Details) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares granted | 4,120 | 14,000 |
Weighted-average grant date fair value | $27 | $21.20 |
Director Stock Incentive Plan - 2012 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares granted | 2,000 | 8,000 |
Weighted-average grant date fair value | $27 | $21.20 |
Vesting period | '1 year | '2 yrs - 50% per year |
The 2012 Omnibus Stock Incentive Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares granted | 2,120 | 6,000 |
Weighted-average grant date fair value | $27 | $21.20 |
Vesting period | '4 yrs - 25% per year | '4 yrs - 25% per year |
Stock_Plans_Summary_Of_Restric
Stock Plans (Summary Of Restricted Stock Changes) (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 13,000 |
Granted | 4,120 |
Vested | -5,250 |
Ending Balance | 11,870 |
Director Stock Incentive Plan - 2012 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 8,000 |
Granted | 2,000 |
Vested | -4,000 |
Ending Balance | 6,000 |
The 2012 Omnibus Stock Incentive Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 5,000 |
Granted | 2,120 |
Vested | -1,250 |
Ending Balance | 5,870 |
Stock_Plans_Schedule_Of_Compen
Stock Plans (Schedule Of Compensation Cost For Share-Based Payment Arrangements, Allocation Of Share-Based Compensation Costs By Plan) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $45 | $30 | $84 | $49 |
Director Stock Incentive Plan - 2012 [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | 35 | 21 | 65 | 35 |
The 2012 Omnibus Stock Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $10 | $9 | $19 | $14 |
Stock_Plans_Schedule_Of_Unreco
Stock Plans (Schedule Of Unrecognized Compensation Cost, Nonvested Awards) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $201 |
Director Stock Incentive Plan - 2012 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 81 |
The 2012 Omnibus Stock Incentive Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $120 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | 0 | 0 |
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 0 | 0 |
Minimum [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -9.00% | -16.00% |
Minimum [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -17.35% | -18.22% |
Maximum [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -37.86% | -36.15% |
Maximum [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -41.50% | -72.17% |
Weighted Average [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -28.79% | -24.84% |
Weighted Average [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value inputs, comparability adjustments | -28.13% | -30.79% |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amount And Estimated Fair Value By Balance Sheet Grouping) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Held-to-maturity securities | $0 | $195 |
Available-for-sale securities | 102,699 | 97,246 |
Loans held-for-sale | 1,664 | 937 |
Carrying Amount [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 14,439 | 13,218 |
Held-to-maturity securities | ' | 177 |
Available-for-sale securities | 102,699 | 97,246 |
FHLB stock | 2,954 | 2,640 |
Loans and leases, net | 486,471 | 469,216 |
Loans held-for-sale | 1,633 | 917 |
Deposit liabilities | 538,503 | 529,698 |
Short-term borrowings | 21,872 | 8,642 |
Long-term debt | 16,000 | 16,000 |
Estimated Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 14,439 | 13,218 |
Held-to-maturity securities | ' | 195 |
Available-for-sale securities | 102,699 | 97,246 |
FHLB stock | 2,954 | 2,640 |
Loans and leases, net | 487,436 | 467,381 |
Loans held-for-sale | 1,664 | 937 |
Deposit liabilities | 538,682 | 529,968 |
Short-term borrowings | 21,872 | 8,642 |
Long-term debt | 17,598 | 17,904 |
Quoted prices in active markets (Level 1) [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 14,439 | 13,218 |
Available-for-sale securities | 590 | 525 |
Significant other observable inputs (Level 2) [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Held-to-maturity securities | ' | 195 |
Available-for-sale securities | 102,109 | 96,721 |
FHLB stock | 2,954 | 2,640 |
Loans held-for-sale | 1,664 | 937 |
Deposit liabilities | 538,682 | 529,968 |
Short-term borrowings | 21,872 | 8,642 |
Long-term debt | 17,598 | 17,904 |
Significant other unobservable inputs (Level 3) [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Loans and leases, net | $487,436 | $467,381 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | $102,699 | $97,246 |
Agency - GSE [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 15,700 | 14,601 |
Obligations Of States And Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 35,106 | 32,611 |
MBS - GSE Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 51,303 | 49,509 |
Equity Securities - Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 590 | 525 |
Quoted prices in active markets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 590 | 525 |
Quoted prices in active markets (Level 1) [Member] | Equity Securities - Financial Services [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 590 | 525 |
Significant other observable inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 102,109 | 96,721 |
Significant other observable inputs (Level 2) [Member] | Agency - GSE [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 15,700 | 14,601 |
Significant other observable inputs (Level 2) [Member] | Obligations Of States And Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | 35,106 | 32,611 |
Significant other observable inputs (Level 2) [Member] | MBS - GSE Residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Available-for-sale securities, Fair value | $51,303 | $49,509 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes In Level 3 Financial Instruments) (Details) (Pooled Trust Preferred Securities [Member], USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2013 |
Pooled Trust Preferred Securities [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Balance at beginning of period | $1,825 |
Gains | 542 |
Losses | -124 |
Pay down / settlement | -127 |
Interest paid-in-kind | 5 |
Accretion | 2 |
Balance at end of period | $2,123 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | $2,870 | $2,802 |
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,132 | 1,152 |
Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,738 | 1,642 |
Other repossessed assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 8 |
Significant other unobservable inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,870 | 2,802 |
Significant other unobservable inputs (Level 3) [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,132 | 1,152 |
Significant other unobservable inputs (Level 3) [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,738 | 1,642 |
Significant other unobservable inputs (Level 3) [Member] | Other repossessed assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | $8 |