Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Feb. 28, 2015 | Jun. 30, 2014 |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | FIDELITY D & D BANCORP INC | ||
Entity Central Index Key | 1098151 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 2,439,905 | ||
Entity Public Float | $52.40 | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ||
Cash and due from banks | $11,808 | $13,197 |
Interest-bearing deposits with financial institutions | 14,043 | 21 |
Total cash and cash equivalents | 25,851 | 13,218 |
Available-for-sale securities | 97,896 | 97,246 |
Held-to-maturity securities (fair value of $0 in 2014, $195 in 2013) | 177 | |
Federal Home Loan Bank stock | 1,306 | 2,640 |
Loans and leases, net (allowance for loan losses of $9,173 in 2014; $8,928 in 2013) | 506,327 | 469,216 |
Loans held-for-sale (fair value $1,186 in 2014, $937 in 2013) | 1,161 | 917 |
Foreclosed assets held-for-sale | 1,972 | 2,086 |
Bank premises and equipment, net | 14,846 | 13,602 |
Cash surrender value of bank owned life insurance | 10,741 | 10,402 |
Accrued interest receivable | 2,086 | 2,068 |
Other assets | 14,299 | 12,253 |
Total assets | 676,485 | 623,825 |
Liabilities: | ||
Deposits: Interest-bearing | 457,574 | 406,779 |
Deposits: Non-interest-bearing | 129,370 | 122,919 |
Total deposits | 586,944 | 529,698 |
Accrued interest payable and other liabilities | 3,353 | 3,425 |
Short-term borrowings | 3,969 | 8,642 |
Long-term debt | 10,000 | 16,000 |
Total liabilities | 604,266 | 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; 2,427,767 in 2014; and 2,391,617 in 2013) | 26,272 | 25,302 |
Retained earnings | 43,204 | 39,519 |
Accumulated other comprehensive income | 2,743 | 1,239 |
Total shareholders' equity | 72,219 | 66,060 |
Total liabilities and shareholders' equity | $676,485 | $623,825 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 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 | 9,173 | 8,928 |
Loans held-for-sale | $1,186 | $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 | 2,427,767 | 2,391,617 |
Common stock, shares outstanding | 2,427,767 | 2,391,617 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income: | |||
Loans and leases: Taxable | $21,799 | $21,344 | $21,237 |
Loans and leases: Nontaxable | 538 | 474 | 462 |
Interest-bearing deposits with financial institutions | 26 | 22 | 65 |
Investment securities: | |||
U.S. government agency and corporations | 1,088 | 732 | 944 |
States and political subdivisions (nontaxable) | 1,280 | 1,197 | 1,212 |
Other securities | 112 | 83 | 73 |
Federal funds sold | 1 | 1 | 1 |
Total interest income | 24,844 | 23,853 | 23,994 |
Interest expense: | |||
Deposits | 2,036 | 2,081 | 2,439 |
Securities sold under repurchase agreements | 21 | 22 | 32 |
Other short-term borrowings and other | 8 | 12 | 1 |
Long-term debt | 852 | 853 | 882 |
Total interest expense | 2,917 | 2,968 | 3,354 |
Net interest income | 21,927 | 20,885 | 20,640 |
Provision for loan losses | 1,060 | 2,550 | 3,250 |
Net interest income after provision for loan losses | 20,867 | 18,335 | 17,390 |
Other income: | |||
Service charges on deposit accounts | 1,778 | 1,863 | 1,787 |
Interchange fees | 1,324 | 1,222 | 1,090 |
Fees from trust fiduciary activities | 674 | 630 | 611 |
Fees from financial services | 545 | 558 | 519 |
Service charges on loans | 750 | 899 | 1,022 |
Fees and other revenue | 741 | 472 | 357 |
Earnings on bank-owned life insurance | 339 | 337 | 325 |
Gain (loss) on sale, recovery, or disposal of: | |||
Loans | 645 | 1,402 | 1,766 |
Investment securities | 599 | 3,168 | 328 |
Premises and equipment | -41 | -10 | -17 |
Impairment losses on investment securities: | |||
Other-than-temporary impairment on investment securities | -61 | -259 | |
Non-credit-related losses on investment securities not expected to be sold (recognized in other comprehensive income) | 61 | 123 | |
Net impairment losses on investment securities | -136 | ||
Total other income | 7,354 | 10,541 | 7,652 |
Other expenses: | |||
Salaries and employee benefits | 9,877 | 9,363 | 9,104 |
Premises and equipment | 3,483 | 3,345 | 3,448 |
Advertising and marketing | 1,279 | 1,223 | 1,179 |
Professional services | 1,368 | 1,303 | 1,305 |
FDIC assessment | 358 | 464 | 505 |
Loan collection | 224 | 514 | 609 |
Other real estate owned | 344 | 603 | 313 |
Office supplies and postage | 461 | 461 | 429 |
Automated transaction processing | 627 | 590 | 404 |
FHLB prepayment fee | 457 | 236 | |
Other | 1,225 | 1,253 | 1,049 |
Total other expenses | 19,703 | 19,119 | 18,581 |
Income before income taxes | 8,518 | 9,757 | 6,461 |
Provision for income taxes | 2,166 | 2,635 | 1,559 |
Net income | $6,352 | $7,122 | $4,902 |
Per share data: | |||
Net income - basic | $2.63 | $3.03 | $2.14 |
Net income - diluted | $2.62 | $3.02 | $2.14 |
Dividends | $1.10 | $1.10 | $1 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements of Comprehensive Income [Abstract] | |||
Net income | $6,352 | $7,122 | $4,902 |
Other comprehensive income, before tax: | |||
Unrealized holding gain (loss) on available-for-sale securities | 2,878 | -946 | 1,724 |
Reclassification adjustment for net gains realized in income | -599 | -63 | -328 |
Net impairment losses on investment securities | 136 | ||
Net unrealized gain (loss) | 2,279 | -1,009 | 1,532 |
Tax effect | -775 | 343 | -521 |
Unrealized gain (loss), net of tax | 1,504 | -666 | 1,011 |
Non-credit-related impairment gain on investment securities not expected to be sold | 5,634 | 507 | |
Reclassification adjustment for net gains realized in income | -3,105 | ||
Net non-credit-related impairment gain on investment securities | 2,529 | 507 | |
Tax effect | -860 | -172 | |
Net non-credit-related impairment loss on investment securities, net of tax | 1,669 | 335 | |
Other comprehensive income, net of tax | 1,504 | 1,003 | 1,346 |
Total comprehensive income, net of tax | $7,856 | $8,125 | $6,248 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Capital Stock [Member] | Retained earnings [Member] | Accumulated other comprehensive income (loss) [Member] | Total |
In Thousands, except Share data | ||||
Balance (value) at Dec. 31, 2011 | $22,354 | $32,380 | ($1,110) | $53,624 |
Balance (shares) at Dec. 31, 2011 | 2,254,542 | |||
Net income | 4,902 | 4,902 | ||
Other comprehensive income (loss) | 1,346 | 1,346 | ||
Issuance of common stock through Employee Stock Purchase Plan | 67 | 67 | ||
Issuance of common stock, shares, through Employee Stock Purchase Plan | 3,874 | |||
Issuance of common stock through Dividend Reinvestment Plan | 1,275 | 1,275 | ||
Issuance of common stock, shares, through Dividend Reinvestment Plan | 64,832 | |||
Stock-based compensation expense | 15 | 15 | ||
Cash dividends declared | -2,283 | -2,283 | ||
Balance (value) at Dec. 31, 2012 | 23,711 | 34,999 | 236 | 58,946 |
Balance (shares) at Dec. 31, 2012 | 2,323,248 | |||
Net income | 7,122 | 7,122 | ||
Other comprehensive income (loss) | 1,003 | 1,003 | ||
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 | 1,401 | 1,401 | ||
Issuance of common stock, shares, through Dividend Reinvestment Plan | 63,979 | |||
Issuance of common stock from vested restricted share grants through stock compensation plans | 134 | 134 | ||
Stock-based compensation expense | 112 | 112 | ||
Cash dividends declared | -2,602 | -2,602 | ||
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 | 6,352 | 6,352 | ||
Other comprehensive income (loss) | 1,504 | 1,504 | ||
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 | 683 | 683 | ||
Issuance of common stock, shares, through Dividend Reinvestment Plan | 26,527 | |||
Issuance of common stock from vested restricted share grants through stock compensation plans | 5,250 | 5,250 | ||
Stock-based compensation expense | 207 | 207 | ||
Cash dividends declared | -2,667 | -2,667 | ||
Balance (value) at Dec. 31, 2014 | $26,272 | $43,204 | $2,743 | $72,219 |
Balance (shares) at Dec. 31, 2014 | 2,427,767 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $6,352 | $7,122 | $4,902 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization, and accretion | 3,137 | 3,323 | 3,473 |
Provision for loan losses | 1,060 | 2,550 | 3,250 |
Deferred income tax expense (benefit) | 156 | 6,166 | -452 |
Stock-based compensation expense | 207 | 112 | 15 |
Proceeds from sale of loans held-for-sale | 35,248 | 83,928 | 83,766 |
Originations of loans held-for-sale | -35,058 | -70,436 | -85,293 |
Earnings on bank-owned life insurance | -339 | -337 | -325 |
Net gain from sales of loans | -645 | -1,402 | -1,766 |
Net gain from sales of investment securities | -599 | -2,979 | -251 |
Net loss on sale and write-down of foreclosed assets held-for-sale | 103 | 418 | 160 |
Net loss on disposal of equipment | 42 | 10 | 17 |
Other-than-temporary impairment on securities | 136 | ||
Change in: | |||
Accrued interest receivable | -17 | -89 | 69 |
Other assets | -1,677 | -4,928 | -297 |
Accrued interest payable and other liabilities | -72 | -398 | -2,860 |
Net cash provided by operating activities | 7,898 | 23,060 | 4,544 |
Held-to-maturity securities: | |||
Proceeds from sales | 187 | ||
Proceeds from maturities, calls, and principal pay-downs | 3 | 112 | 100 |
Available-for-sale securities: | |||
Proceeds from sales | 20,939 | 17,651 | 3,571 |
Proceeds from maturities, calls and principal pay-downs | 13,611 | 25,684 | 32,542 |
Purchases | -33,639 | -37,109 | -27,751 |
Decrease (increase) in FHLB stock | 1,334 | -16 | 1,076 |
Net increase in loans and leases | -40,547 | -52,956 | -34,955 |
Acquisition of bank premises and equipment | -2,970 | -1,038 | -1,979 |
Proceeds from sale of foreclosed assets held-for-sale | 1,149 | 1,483 | 1,067 |
Net cash used by investing activities | -39,933 | -46,189 | -26,329 |
Cash flows from financing activities: | |||
Net increase (decrease) in deposits | 57,245 | 15,038 | -1,142 |
Net (decrease) increase in short-term borrowings | -4,673 | 586 | -1,452 |
Repayments of long-term debt | -6,000 | -5,000 | |
Proceeds from employee stock purchase plan participants | 80 | 78 | 67 |
Dividends paid, net of dividends reinvested | -2,088 | -1,596 | -1,493 |
Proceeds from dividend reinvestment plan participants | 104 | 395 | 486 |
Net cash provided by financing activities | 44,668 | 14,501 | -8,534 |
Net increase (decrease) in cash and cash equivalents | 12,633 | -8,628 | -30,319 |
Cash and cash equivalents, beginning | 13,218 | 21,846 | 52,165 |
Cash and cash equivalents, ending | $25,851 | $13,218 | $21,846 |
Nature_Of_Operations_And_Summa
Nature Of Operations And Summary Of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | ||||
Nature Of Operations And Summary Of Significant Accounting Policies | 1.NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
PRINCIPLES OF CONSOLIDATION | ||||
The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. | ||||
NATURE OF OPERATIONS | ||||
The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna and Luzerne Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. | ||||
USE OF ESTIMATES | ||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reporting period. Actual results could differ from those estimates. | ||||
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the determination and the amount of impairment in the securities portfolios and the related realization of the deferred tax assets related to the allowance for loan losses, other-than-temporary impairment on and valuations of investment securities. | ||||
In connection with the determination of the allowance for loan losses, management generally obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near-term. However, the amount of the change that is reasonably possible cannot be estimated. | ||||
The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term including changes caused by other-than-temporary impairment, the recovery of which may not occur until maturity. Credit-related impairment is included as a component of non-interest income in the consolidated income statements while non-credit-related impairment is charged to other comprehensive income, net of tax. | ||||
SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK | ||||
The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna and Luzerne Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not have any significant concentrations from one industry or customer. | ||||
HELD-TO-MATURITY SECURITIES | ||||
Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security as an adjustment to yield using the interest method. | ||||
TRADING SECURITIES | ||||
Debt and equity securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not have investment securities held for trading purposes during 2014, 2013 or 2012. | ||||
AVAILABLE-FOR-SALE SECURITIES | ||||
Available-for-sale (AFS) securities consist of debt and equity securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security as an adjustment to yield using the interest method. Unrealized holding gains and losses, including non-credit-related other-than-temporary impairment (OTTI), on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. Credit-related OTTI is recorded as a reduction of the amortized cost of the impaired security. Net gains and losses from sales and recoveries of securities and credit-related OTTI are recorded as components of other income in the consolidated statements of income. | ||||
FEDERAL HOME LOAN BANK STOCK | ||||
The Company, is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. | ||||
LOANS | ||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for loan losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. | ||||
Generally, loans are placed on non-accrual status when principal or interest is past due 90 days or more. When a loan is placed on non-accrual status, all interest previously accrued but not collected is charged against current earnings. Any payments received on non-accrual loans are applied, first to the outstanding loan amounts, then to the recovery of any charged-off loan amounts. Any excess is treated as a recovery of lost interest. | ||||
A modification of a loan constitutes a troubled debt restructuring (TDR) when a borrower is experiencing financial difficulty and the Company grants a concession that it would not otherwise grant based on current underwriting standards. Regardless of the type of concession, when modifying a loan forgiveness of principal is rarely granted. | ||||
LOANS HELD-FOR-SALE | ||||
Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. | ||||
AUTOMOBILE LEASING | ||||
Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest 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. | ||||
ALLOWANCE FOR LOAN LOSSES | ||||
The allowance for loan losses is established through a provision for loan losses. The allowance represents an amount which, in management’s judgment, will be adequate to absorb losses on existing loans that may become uncollectible. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of the loans. These evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions that may affect the borrower’s ability to pay, collateral value, overall portfolio quality and review of specific loans for impairment. Management applies two primary components during the loan review process to determine proper allowance levels; a specific loan loss allocation for loans that are deemed impaired; and a general loan loss allocation for those loans not specifically allocated based on historical charge-off history and qualitative factor adjustments for trends or changes in the loan portfolio. Delinquencies, changes in lending policies and local economic conditions are some of the items used for the qualitative factor adjustments. Loans considered uncollectible are charged against the allowance. Recoveries on loans previously charged off are added to the allowance. | ||||
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, troubled debt restructurings (TDRs) and other loans deemed to be impaired based on the aforementioned factors. | ||||
The risk characteristics of each of the identified portfolio segments are as follows: | ||||
Commercial and industrial loans (C&I): C&I loans are primarily based on the identified historic and/or the projected cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of the borrower, however, do fluctuate based on changes in the company’s internal and external environment including management, human and capital resources, economic conditions, competition and regulation. Most C&I loans are secured by business assets being financed such as equipment, accounts receivable, and/or inventory and generally incorporate a secured or unsecured personal guarantee. Unsecured loans may be made on a short-term basis. The ability of the borrower to collect amounts due from its customers may be affected by its customers’ economic and financial condition. | ||||
Commercial real estate loans: Commercial real estate loans are made to finance the purchase of real estate, refinance existing obligations and/or to provide capital. These commercial real estate loans are generally secured by first lien security interests in the real estate as well as assignment of leases and rents. The real estate may include apartments, hotels, retail stores or plazas and healthcare facilities whether they are owner or non-owner occupied. These loans are typically originated in amounts of no more than 80% of the appraised value of the property. | ||||
Consumer loans: The Company offers home equity installment loans and lines of credit. Risks associated with loans secured by residential properties are generally lower than commercial real estate loans and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. The Company also offers a variety of loans to individuals for personal and household purposes. These loans are generally considered to have greater risk than mortgages on real estate because they may be unsecured, or if they are secured, the value of the collateral may be difficult to assess and more likely to decrease in value than real estate. | ||||
Residential mortgage loans: Residential mortgages are secured by a first lien position of the borrower’s residential real estate. These loans have varying loan rates depending on the financial condition of the borrower and the loan to value ratio. Residential mortgages have terms up to thirty years with amortizations varying from 10 to 30 years. The majority of the loans are underwritten according to FNMA and/or FHLB standards. | ||||
TRANSFER OF FINANCIAL ASSETS | ||||
Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: the assets have been isolated from the Company—put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | ||||
LOAN FEES AND COSTS | ||||
Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. | ||||
BANK PREMISES AND EQUIPMENT | ||||
Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. | ||||
BANK OWNED LIFE INSURANCE | ||||
The Company maintains bank owned life insurance (BOLI) for a chosen group of employees, at the time of purchase, namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in the cash surrender value. | ||||
FORECLOSED ASSETS HELD-FOR-SALE | ||||
Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. | ||||
STOCK PLANS | ||||
The Company has two stock-based compensation plans. The Company accounts for these plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock options, the Company uses the Black-Sholes option pricing model to determine their estimated fair value on the date of grant. | ||||
TRUST AND FINANCIAL SERVICE FEES | ||||
Trust and financial service fees are recorded on the cash basis, which is not materially different from the accrual basis. | ||||
ADVERTISING COSTS | ||||
Advertising costs are charged to expense as incurred. | ||||
LEGAL AND PROFESSIONAL EXPENSES | ||||
Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third party against the Company, expenses for damages will be accrued if the likelihood of the outcome against the Company is probable, the amount can be reasonably estimated and the amount would have a material impact on the financial results of the Company. | ||||
FAIR VALUE OF FINANCIAL INSTRUMENTS | ||||
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 is 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 and leases: 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 are 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. | ||||
INCOME TAXES | ||||
Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. | ||||
CASH FLOWS | ||||
For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. | ||||
For the years ended December 31, 2014, 2013, and 2012, the Company paid interest of $2.9 million, $3.0 million and $3.5 million, respectively. For the years ended December 31, 2014, 2013, and 2012, the Company paid income taxes of $1.7 million, $1.3 million and $2.2 million, respectively. | ||||
Transfers from loans to foreclosed assets held-for-sale amounted to $1.2 million, $2.4 million and $1.8 million in 2014, 2013, and 2012, respectively. Transfers from loans to loans held-for-sale amounted to $0.2 million, $3.7 million and $3.6 million in 2014, 2013 and 2012, respectively. During 2014, transfers from loans to bank premises and equipment amounted to $1.0 million. There were no transfers from loans to bank premises and equipment in 2013 or 2012. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of premises and equipment. | ||||
RECLASSIFICATION ADJUSTMENTS | ||||
Certain reclassifications have been made to the 2012 financial statements to conform to the 2014 presentation. | ||||
Cash
Cash | 12 Months Ended |
Dec. 31, 2014 | |
Cash [Abstrct] | |
Cash | 2.CASH |
The Company is required by the Federal Reserve Bank to maintain average reserve balances based on a percentage of deposits. The amounts of those reserve requirements on December 31, 2014 and 2013 were $1.0 million and $0.9 million, respectively. | |
Deposits with any one financial institution are insured up to $250,000. From time-to-time, the Company may maintain cash and cash equivalents with certain other financial institutions in excess of the insured amount. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | ||||||||
Dec. 31, 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 year ended December 31, 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 | 1,899 | - | 1,899 | ||||||
Amounts reclassified from accumulated other comprehensive income | -395 | - | -395 | ||||||
Net current-period other comprehensive income | 1,504 | - | 1,504 | ||||||
Ending balance | $ | 2,743 | $ | - | $ | 2,743 | |||
As of and for the year ended December 31, 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 | -624 | 3,718 | 3,094 | ||||||
Amounts reclassified from accumulated other comprehensive income | -42 | -2,049 | -2,091 | ||||||
Net current-period other comprehensive (loss) income | -666 | 1,669 | 1,003 | ||||||
Ending balance | $ | 1,239 | $ | - | $ | 1,239 | |||
In the table above, all amounts are net of tax at 34%. Amounts in parentheses indicate debits. | |||||||||
Details about accumulated other | |||||||||
comprehensive income components | Affected line item in the statement | ||||||||
(dollars in thousands) | where net income is presented | ||||||||
Years ended | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Unrealized gains on AFS securities | $ | 599 | $ | 3,168 | Gain on sale, recovery, or disposal of investment securities | ||||
-204 | -1,077 | Provision for income taxes | |||||||
Total reclassifications for the period | $ | 395 | $ | 2,091 | Net income | ||||
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Investment Securities | 4.INVESTMENT SECURITIES | ||||||||||||||||||
Amortized cost and fair value of investment securities as of the period indicated are as follows: | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | $ | - | $ | - | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 14,380 | $ | 29 | $ | 11 | $ | 14,398 | |||||||||||
Obligations of states and political subdivisions | 34,609 | 2,444 | 20 | 37,033 | |||||||||||||||
MBS - GSE residential | 44,455 | 1,438 | 23 | 45,870 | |||||||||||||||
Total debt securities | 93,444 | 3,911 | 54 | 97,301 | |||||||||||||||
Equity securities - financial services | 295 | 300 | - | 595 | |||||||||||||||
Total available-for-sale securities | $ | 93,739 | $ | 4,211 | $ | 54 | $ | 97,896 | |||||||||||
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 | |||||||||||
Some of the Company’s debt securities are pledged to secure trust funds, public deposits, repurchase agreements, other short-term borrowings, FHLB advances, Federal Reserve Bank of Philadelphia Discount Window borrowings and certain other deposits as required by law. | |||||||||||||||||||
The amortized cost and fair value of debt securities at December 31, 2014 by contractual maturity are shown 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 | $ | 1,004 | $ | 1,000 | |||||||||||||||
Due after one year through five years | 12,301 | 12,318 | |||||||||||||||||
Due after five years through ten years | 3,809 | 3,971 | |||||||||||||||||
Due after ten years | 31,875 | 34,142 | |||||||||||||||||
Total debt securities | 48,989 | 51,431 | |||||||||||||||||
MBS - GSE residential | 44,455 | 45,870 | |||||||||||||||||
Total available-for-sale debt securities | $ | 93,444 | $ | 97,301 | |||||||||||||||
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. | |||||||||||||||||||
Gross realized gains and losses from sales, determined using specific identification, and recoveries of previously charged-off pooled trust preferred (PreTSL) securities for the periods indicated were as follows: | |||||||||||||||||||
December 31, | |||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross realized gain | $ | 603 | $ | 4,314 | $ | 251 | |||||||||||||
Gross realized loss | -4 | -1,335 | - | ||||||||||||||||
Recovery of previously charged-off PreTSLs | - | 189 | 77 | ||||||||||||||||
Net gain | $ | 599 | $ | 3,168 | $ | 328 | |||||||||||||
The following table presents the fair value and gross unrealized losses of investments aggregated by investment type, the length of time and the number of securities that have been in a continuous unrealized loss position as of the period indicated: | |||||||||||||||||||
Less than 12 months | More than 12 months | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
(dollars in thousands) | value | losses | value | losses | value | losses | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Agency - GSE | $ | 4,100 | $ | 11 | $ | 1,024 | $ | - | $ | 5,124 | $ | 11 | |||||||
Obligations of states and political subdivisions | 1,767 | 11 | 670 | 9 | 2,437 | 20 | |||||||||||||
MBS - GSE residential | 3,761 | 23 | - | - | 3,761 | 23 | |||||||||||||
Total temporarily impaired securities | $ | 9,628 | $ | 45 | $ | 1,694 | $ | 9 | $ | 11,322 | $ | 54 | |||||||
Number of securities | 9 | 3 | 12 | ||||||||||||||||
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 requires 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 December 31, 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. | |||||||||||||||||||
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. | |||||||||||||||||||
Pooled trust preferred securities | |||||||||||||||||||
During the fourth quarter of 2013, the Company sold its entire position of pooled trust preferred securities. For a further discussion on the Company’s former investment, fair value determination and activity of its pooled trust preferred securities portfolio, see Note 4, “Investment Securities”, and Note 13, “Fair Value Measurements”, within the audited consolidated financial statements, incorporated by reference to the Company’s 2013 Form 10-K filed with the SEC on March 19, 2014. | |||||||||||||||||||
The following summarizes the amount of credit-related OTTI recognized in earnings for the year ended December 31, 2012: | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||
PreTSL IX, B1, B3 | $ | 18 | |||||||||||||||||
PreTSL XVIII, C | 118 | ||||||||||||||||||
Total | $ | 136 | |||||||||||||||||
The cumulative amount of credit-related OTTI recognized in earnings was $15.4 million at December 31, 2012. There was no credit-related OTTI recognized in earnings during 2013 or 2014. | |||||||||||||||||||
Loans_And_Leases
Loans And Leases | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Loans And Leases [Abstract] | ||||||||||||||||||||||||
Loans And Leases | ||||||||||||||||||||||||
5.LOANS AND LEASES | ||||||||||||||||||||||||
The classifications of loans and leases at December 31, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Commercial and industrial | $ | 80,301 | $ | 74,551 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 94,771 | 89,255 | ||||||||||||||||||||||
Owner occupied | 95,780 | 86,294 | ||||||||||||||||||||||
Construction | 5,911 | 10,765 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 32,819 | 34,480 | ||||||||||||||||||||||
Home equity line of credit | 42,188 | 36,836 | ||||||||||||||||||||||
Auto loans and leases | 27,972 | 22,261 | ||||||||||||||||||||||
Other | 6,501 | 5,205 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 119,154 | 110,365 | ||||||||||||||||||||||
Construction | 10,298 | 8,188 | ||||||||||||||||||||||
Total | 515,695 | 478,200 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan losses | -9,173 | -8,928 | ||||||||||||||||||||||
Unearned lease revenue | -195 | -56 | ||||||||||||||||||||||
Loans and leases, net | $ | 506,327 | $ | 469,216 | ||||||||||||||||||||
Net deferred loan costs of $1.4 million and $1.1 million have been added to the carrying values of loans at December 31, 2014 and 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 $256.8 million and $250.2 million as of December 31, 2014 and 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 December 31, were as follows: | ||||||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Commercial and industrial | $ | 27 | $ | 62 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 620 | 1,518 | ||||||||||||||||||||||
Owner occupied | 2,013 | 1,422 | ||||||||||||||||||||||
Construction | 256 | 635 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 312 | 393 | ||||||||||||||||||||||
Home equity line of credit | 417 | 254 | ||||||||||||||||||||||
Auto loans and leases | 1 | 12 | ||||||||||||||||||||||
Other | 20 | 22 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 549 | 1,350 | ||||||||||||||||||||||
Total | $ | 4,215 | $ | 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 (C&I) 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 (CRE) 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 December 31, 2014, total TDRs amounted to $1.6 million (consisting of 4 CRE loans and 1 C&I loan to 3 unrelated borrowers), of which one with a balance of $0.9 million was on non-accrual status, compared to $2.0 million (consisting of 5 CRE loans and 2 C&I loans to 5 unrelated borrowers) and $1.0 million, respectively, as of December 31, 2013. Of the TDRs outstanding as of December 31, 2014 and 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 twelve months ended December 31, 2014 and 2013, respectively. | ||||||||||||||||||||||||
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 | |||||||||||||||||||
31-Dec-14 | past due | past due | or more (1) | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 34 | $ | 76 | $ | 55 | $ | 165 | $ | 80,136 | $ | 80,301 | $ | 28 | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 624 | 126 | 719 | 1,469 | 93,302 | 94,771 | 99 | |||||||||||||||||
Owner occupied | 366 | 292 | 2,113 | 2,771 | 93,009 | 95,780 | 100 | |||||||||||||||||
Construction | - | - | 256 | 256 | 5,655 | 5,911 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 170 | 142 | 767 | 1,079 | 31,740 | 32,819 | 455 | |||||||||||||||||
Home equity line of credit | 13 | - | 417 | 430 | 41,758 | 42,188 | - | |||||||||||||||||
Auto loans and leases | 545 | 111 | 16 | 672 | 27,105 | 27,777 | -2 | 15 | ||||||||||||||||
Other | 38 | 147 | 40 | 225 | 6,276 | 6,501 | 20 | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 700 | 548 | 892 | 2,140 | 117,014 | 119,154 | 343 | |||||||||||||||||
Construction | - | - | - | - | 10,298 | 10,298 | - | |||||||||||||||||
Total | $ | 2,490 | $ | 1,442 | $ | 5,275 | $ | 9,207 | $ | 506,293 | $ | 515,500 | $ | 1,060 | ||||||||||
(1) Includes $4.2 million of non-accrual loans. (2) Net of unearned revenue of $0.2 million. | ||||||||||||||||||||||||
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 (1) | 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 | -2 | 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 | ||||||||||
(1) Includes $5.7 million of non-accrual loans. (2) Net of unearned revenue of $56 thousand. | ||||||||||||||||||||||||
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. | ||||||||||||||||||||||||
At December 31, 2014, impaired loans consisted of accruing TDRs totaling $0.7 million, $4.2 million of non-accrual loans and a $1.2 million accruing loan. At December 31, 2013, impaired loans consisted of accruing TDRs totaling $1.0 million and $5.7 million of non-accrual loans. As of December 31, 2014 and 2013, the non-accrual loans included non-accruing TDRs of $0.9 million and $1.0 million, respectively. Payments received from non-accruing 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. Payments received from accruing impaired loans are applied to principal and interest, as contractually agreed upon. | ||||||||||||||||||||||||
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 | ||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Commercial & industrial | $ | 326 | $ | - | $ | 52 | $ | 52 | $ | - | $ | 67 | $ | 1 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 2,494 | 1,949 | 355 | 2,304 | 547 | 1,557 | 27 | - | ||||||||||||||||
Owner occupied | 2,375 | 447 | 1,825 | 2,272 | 87 | 1,996 | 15 | - | ||||||||||||||||
Construction | 350 | - | 256 | 256 | - | 342 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 466 | - | 312 | 312 | - | 358 | 11 | - | ||||||||||||||||
Home equity line of credit | 469 | 128 | 289 | 417 | 1 | 382 | 20 | - | ||||||||||||||||
Auto loans and leases | 1 | - | 1 | 1 | - | 2 | - | - | ||||||||||||||||
Other | 33 | - | 20 | 20 | - | 22 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 612 | 304 | 245 | 549 | 35 | 762 | 7 | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 7,126 | $ | 2,828 | $ | 3,355 | $ | 6,183 | $ | 670 | $ | 5,488 | $ | 81 | $ | - | ||||||||
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 in assessing performance. 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) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||
Pass | $ | 76,902 | $ | 71,122 | $ | 83,387 | $ | 78,069 | $ | 88,256 | $ | 82,975 | $ | 5,073 | $ | 9,026 | ||||||||
Special mention | 2,202 | 2,244 | 3,611 | 2,734 | 2,933 | 656 | 502 | 1,037 | ||||||||||||||||
Substandard | 1,197 | 1,185 | 7,773 | 8,452 | 4,591 | 2,663 | 336 | 702 | ||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 80,301 | $ | 74,551 | $ | 94,771 | $ | 89,255 | $ | 95,780 | $ | 86,294 | $ | 5,911 | $ | 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) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||
Performing | $ | 32,052 | $ | 34,087 | $ | 41,771 | $ | 36,561 | $ | 27,761 | $ | 22,182 | $ | 6,461 | $ | 5,183 | ||||||||
Non-performing | 767 | 393 | 417 | 275 | 16 | 23 | 40 | 22 | ||||||||||||||||
Total | $ | 32,819 | $ | 34,480 | $ | 42,188 | $ | 36,836 | $ | 27,777 | $ | 22,205 | $ | 6,501 | $ | 5,205 | ||||||||
Mortgage lending credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Residential real estate | Residential construction | |||||||||||||||||||||||
(dollars in thousands) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||||||
Performing | $ | 118,262 | $ | 108,899 | $ | 10,298 | $ | 8,188 | ||||||||||||||||
Non-performing | 892 | 1,466 | - | - | ||||||||||||||||||||
Total | $ | 119,154 | $ | 110,365 | $ | 10,298 | $ | 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. | ||||||||||||||||||||||||
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 year ended December 31, 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 | 309 | 239 | 361 | 93 | - | 1,002 | ||||||||||||||||||
Recoveries | 32 | 91 | 30 | 34 | - | 187 | ||||||||||||||||||
Provision | 385 | 567 | 368 | -238 | -22 | 1,060 | ||||||||||||||||||
Ending balance | $ | 1,052 | $ | 4,672 | $ | 1,519 | $ | 1,316 | $ | 614 | $ | 9,173 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | 634 | $ | 1 | $ | 35 | $ | 670 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,052 | $ | 4,038 | $ | 1,518 | $ | 1,281 | $ | 7,889 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 80,301 | $ | 196,462 | $ | 109,285 | $ | 129,452 | $ | 515,500 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 52 | $ | 4,832 | $ | 750 | $ | 549 | $ | 6,183 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 80,249 | $ | 191,630 | $ | 108,535 | $ | 128,903 | $ | 509,317 | ||||||||||||||
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 | ||||||||||||||
Bank_Premises_And_Equipment
Bank Premises And Equipment | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Bank Premises And Equipment [Abstract] | ||||||
Bank Premises And Equipment | 6.BANK PREMISES AND EQUIPMENT | |||||
Components of bank premises and equipment are summarized as follows: | ||||||
As of December 31, | ||||||
(dollars in thousands) | 2014 | 2013 | ||||
Land | $ | 2,775 | $ | 2,627 | ||
Bank premises | 12,955 | 11,682 | ||||
Furniture, fixtures and equipment | 10,012 | 9,500 | ||||
Leasehold improvements | 4,005 | 4,168 | ||||
Total | 29,747 | 27,977 | ||||
Less accumulated depreciation and amortization | -14,901 | -14,375 | ||||
Bank premises and equipment, net | $ | 14,846 | $ | 13,602 | ||
Depreciation expense, which includes amortization of leasehold improvements, was $1.2 million, $1.2 million and $1.3 million for the years ended December 31, 2014, 2013 and 2012. | ||||||
In 2014 and 2013, the Company leased its Green Ridge, West Pittston, Peckville, Clarks Summit and Eynon branches and the former Scranton branch under the terms of operating leases. Rental expense was $0.2 million in 2014 and $0.3 million in 2013 and 2012. The future minimum lease payments for the Company’s branch network as of December 31, 2014 are as follows: | ||||||
(dollars in thousands) | Amount | |||||
2015 | $ | 224 | ||||
2016 | 231 | |||||
2017 | 232 | |||||
2018 | 232 | |||||
2019 | 234 | |||||
2020 and thereafter | 3,911 | |||||
Total | $ | 5,064 | ||||
During 2009, the Company closed its Wyoming Ave., Scranton branch but continued to pay monthly lease payments under an operating lease agreement that expired during the first quarter of 2014. To offset the expense related to the former Scranton branch, the Company received rental income under a sublease agreement from an unrelated financial institution that also expired during the first quarter of 2014. During 2015, the Company will relocate its West Pittston branch to a new building currently under construction in Pittston. As of December 31, 2014, approximately $1.8 million of additional capital expenditures representing outstanding construction commitment, design and equipment will be incurred before the entire cost of the project is reclassified from construction in process, a component of other assets, to bank premises and equipment. The Pittston branch will begin its lease when the building is occupied which is expected to be in April 2015. | ||||||
During the 2014 first quarter, the Company received through foreclosure the deed that secured the collateral for a non-owner occupied commercial real estate loan that was on non-accrual status. The loan, in the amount $1.0 million, was transferred from loans to foreclosed assets held-for-sale and then to bank premises. Currently the building has a tenant under a lease agreement expiring in 2018, but the Company expects to use the property for future facility expansion. | ||||||
Deposits
Deposits | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Deposits [Abstract] | ||||||
Deposits | 7.DEPOSITS | |||||
The scheduled maturities of certificates of deposit including certificates reciprocated in the Certificate of Deposit Account Registry Service (CDARS) program as of December 31, 2014 were as follows: | ||||||
(dollars in thousands) | Amount | Percent | ||||
2015 | $ | 52,984 | 50.7 | % | ||
2016 | 30,806 | 29.4 | ||||
2017 | 9,124 | 8.7 | ||||
2018 | 2,996 | 2.9 | ||||
2019 | 7,313 | 7.0 | ||||
2020 and thereafter | 1,407 | 1.3 | ||||
Total | $ | 104,630 | 100.0 | % | ||
Excluding $7.7 million of CDARS deposits, certificates of deposit of $100,000 or more aggregated $43.0 million and $41.2 million as of December 31, 2014 and 2013, respectively. Certificates of deposit of $250,000 or more aggregated $19.1 million and $15.7 million at December 31, 2014 and 2013, respectively. | ||||||
As of December 31, 2014, investment securities with a combined fair value of $97.3 million and letters of credit with a notional value of $0.3 million were available to be pledged as qualifying collateral to secure public deposits and trust funds. The Company required $61.0 million of the qualifying collateral to secure such deposits as of December 31, 2014 and the balance of $36.3 million was available for other pledging needs. | ||||||
ShortTerm_Borrowings
Short-Term Borrowings | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Short-Term Borrowings [Abstract] | |||||||||||
Short-Term Borrowings | 8.SHORT-TERM BORROWINGS | ||||||||||
The components of short-term borrowings are summarized as follows: | |||||||||||
As of December 31, | |||||||||||
(dollars in thousands) | 2014 | 2013 | |||||||||
Overnight borrowings | $ | - | $ | 2,472 | |||||||
Securities sold under repurchase agreements | 3,969 | 6,170 | |||||||||
Total | $ | 3,969 | $ | 8,642 | |||||||
The maximum and average amounts of short-term borrowings outstanding and related interest rates as of the periods indicated are as follows: | |||||||||||
Maximum | Weighted- | ||||||||||
outstanding | average | ||||||||||
at any | Average | rate during | Rate at | ||||||||
(dollars in thousands) | month end | outstanding | the year | year-end | |||||||
31-Dec-14 | |||||||||||
Overnight borrowings | $ | 13,694 | $ | 2,628 | 0.31 | % | 0.00 | % | |||
Repurchase agreements | 22,972 | 11,349 | 0.18 | 0.15 | |||||||
Total | $ | 36,666 | $ | 13,977 | |||||||
31-Dec-13 | |||||||||||
Overnight borrowings | $ | 10,544 | $ | 3,893 | 0.29 | % | 0.27 | % | |||
Repurchase agreements | 21,653 | 11,629 | 0.19 | 0.14 | |||||||
Total | $ | 32,197 | $ | 15,522 | |||||||
31-Dec-12 | |||||||||||
Overnight borrowings | $ | - | $ | 55 | 0.41 | % | 0.00 | % | |||
Repurchase agreements | 20,721 | 13,027 | 0.25 | 0.27 | |||||||
Total | $ | 20,721 | $ | 13,082 | |||||||
Overnight borrowings may include Fed funds purchased from correspondent banks, open repurchase agreements with the FHLB and borrowings at the Discount Window from the Federal Reserve Bank of Philadelphia (FRB). Securities sold under agreements to repurchase, or repurchase agreements, are non-insured interest-bearing liabilities that have a perfected security interest in qualified investment securities of the Company. Repurchase agreements are reflected at the amount of cash received in connection with the transaction. The carrying value of the underlying qualified investment securities was approximately $19.0 million and $20.2 million at December 31, 2014 and 2013, respectively. The Company may be required to provide additional collateral based on the balance of the repurchase agreement and the fair value of the underlying securities. | |||||||||||
At December 31, 2014, the Company had approximately $181.5 million available to borrow from the FHLB, $21.0 million from correspondent banks and approximately $29.9 million that it could borrow at the FRB. | |||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2014 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | 9.LONG-TERM DEBT |
Long-term debt consisted of a single advance from the FHLB in the amount of $10.0 million and $16.0 million as of December 31, 2014 and 2013, respectively, that is scheduled to mature in 2016. The debt is a convertible-select instrument that currently carries a 5.26% fixed rate of interest. The rate could adjust quarterly should market rates increase beyond the issue’s original strike rate. The advance is secured by blanket liens on real estate and commercial and industrial loans with a combined weighted valuation, for collateral purposes, of $191.7 million as of September 30, 2014 that was the qualifying collateral in effect as of December 31, 2014. | |
Significant prepayment fees attached to the borrowing are a deterrent from paying off the high-cost advance. In the event the underlying market rates rise above the rate currently paid on the borrowing, the rate will convert to a floating-rate instrument and the Company would have the option to repay or renegotiate the converted advance. In December 2014, the Company paid off $6.0 million of the $16.0 million advance and incurred a prepayment fee of $0.5 million. | |
Stock_Plans
Stock Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Stock Plans [Abstract] | ||||||||||||||
Stock Plans | 10.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 | ||||||||||||||
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 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, 2012 | - | 151 | 151 | |||||||||||
Granted | 8,000 | 6,000 | 14,000 | |||||||||||
Forfeited | - | -1,017 | -1,017 | |||||||||||
Issued | - | -134 | -134 | |||||||||||
Balance at December 31, 2013 | 8,000 | 5,000 | 13,000 | |||||||||||
Granted | 2,000 | 2,120 | 4,120 | |||||||||||
Vested | -4,000 | -1,250 | -5,250 | |||||||||||
Balance at December 31, 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 December 31, 2014, the intrinsic value of the Company’s restricted stock under the Director and Omnibus plans was $33.00 per share. | ||||||||||||||
Share-based compensation expense 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 years ended December 31, 2014 and 2013 and the unrecognized stock-based compensation expense as of December 31, 2014 and 2013: | ||||||||||||||
Years ended December 31, | ||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||
Stock-based compensation expense: | ||||||||||||||
Director plan | $ | 134 | $ | 78 | ||||||||||
Omnibus plan | 40 | 24 | ||||||||||||
Total stock-based compensation expense | $ | 174 | $ | 102 | ||||||||||
As of | ||||||||||||||
(dollars in thousands) | 31-Dec-14 | |||||||||||||
Unrecognized stock-based compensation expense: | ||||||||||||||
Director plan | $ | 12 | ||||||||||||
Omnibus plan | 99 | |||||||||||||
Total unrecognized stock-based compensation expense | $ | 111 | ||||||||||||
The unrecognized stock-based compensation expense as of December 31, 2014 will be recognized ratably over the periods ended January 2015 and January 2018 for the Director Plan and the Omnibus Plan, respectively. | ||||||||||||||
A summary of the status of the Company’s stock option plans as of and changes during the periods indicated are presented in the following table: | ||||||||||||||
Weighted- | ||||||||||||||
Weighted- | average | |||||||||||||
average | remaining | |||||||||||||
exercise | contractual | |||||||||||||
Options | price | term (years) | ||||||||||||
Outstanding and exercisable, December 31, 2011 | 23,790 | $ | 29.67 | 4.9 | ||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | -4,290 | 34.09 | ||||||||||||
Outstanding and exercisable, December 31, 2012 | 19,500 | 28.69 | 5 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | - | - | ||||||||||||
Outstanding and exercisable, December 31, 2013 | 19,500 | 28.69 | 4 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | -500 | 28.90 | ||||||||||||
Outstanding and exercisable, December 31, 2014 | 19,000 | $ | 28.69 | 3 | ||||||||||
In the above table, the weighted-average exercise price includes options with exercise prices ranging from $26.05 to $34.09. | ||||||||||||||
As of December 31, 2014 and 2013, the intrinsic value for outstanding stock options with market prices that exceeded their strike price amounted to $81,900 and $450, respectively. As of December 31, 2012, no intrinsic value existed. The Company has not issued stock options since 2008. | ||||||||||||||
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 December 31, 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 years ended December 31, 2014, 2013 and 2012, compensation expense related to the ESPP approximated $33 thousand, $10 thousand and $12 thousand, respectively, and is included as a component of salaries and employee benefits in the consolidated statements of income. | ||||||||||||||
The Company also established the dividend reinvestment plan (the DRP) for its shareholders. The DRP is designed to avail the Company’s stock at no transactional cost to its shareholders. Cash dividends paid to shareholders who are enrolled in the DRP plus voluntary cash deposits received can be used to purchase shares; directly from the Company, from shares that become available in the open market or in negotiated transactions with third parties. The Company has reserved 500,000 shares of its un-issued capital stock for issuance under the DRP. Beginning in 2009, shares purchased directly from the Company via dividends paid through the DRP were purchased at 90% of the fair market value as of the purchase date, as defined in the plan. Shares purchased from the open market were purchased at 100% of the fair market value on the purchase date, as defined in the plan. During the first quarter of 2014, the board of directors amended the DRP to eliminate the 10% purchase price discount to fair market on shares purchased directly from the Company with optional cash payments. As of December 31, 2014, there were 405,888 shares available for future issuance. | ||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Taxes [Abstract] | |||||||||
Income Taxes | 11.INCOME TAXES | ||||||||
Pursuant to the accounting guidelines related to income taxes, the Company has evaluated its material tax positions as of December 31, 2014 and 2013. Under the “more-likely-than-not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. In periods subsequent to December 31, 2014, determinations of potentially adverse material tax positions will be evaluated to determine whether an uncertain tax position may have previously existed or has been originated. In the event an adverse tax position is determined to exist, penalty and interest will be accrued, in accordance with the Internal Revenue Service (IRS) guidelines, and will be recorded as a component of other expenses in the Company’s consolidated statements of income. | |||||||||
As of December 31, 2014, there were no unrecognized tax benefits that, if recognized, would significantly affect the Company’s effective tax rate. Also, there were no penalties and interest recognized in the consolidated statements of income in 2014, 2013 and 2012 as a result of management’s evaluation of whether an uncertain tax position may exist nor does the Company foresee a change in its material tax positions that would give rise to the non-recognition of an existing tax benefit during the forthcoming twelve months. Tax returns filed with the IRS are subject to review by law under a three-year statute of limitations. The Company has not received notification from the IRS regarding adverse tax issues from tax returns filed for tax years 2014, 2013 or 2012. However, the 2013 tax return is currently under review. | |||||||||
For federal income tax purposes, in 2013 the Company generated a net operating loss (NOL). The NOL position occurred because the Company disposed of its non-accruing and underperforming portfolio of pooled trust preferred securities in 2013. Generally, the credit impairment losses that had been incurred within the portfolio from inception and the related uncollected accrued interest were able to be deducted on the 2013 federal income tax return resulting in the NOL. The NOL was carried back to the two immediately preceding years. By carrying back the NOL, the Company will be able to obtain a refund of income taxes paid in 2012 and 2011. The 2013 tax return is currently under review by the IRS which could take several months to complete. The company expects to fully recover the income taxes paid in 2012 and 2011. | |||||||||
The following temporary differences gave rise to the net deferred tax (liability) asset, a component of other assets in the consolidated balance sheets, as of the periods indicated: | |||||||||
As of December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Deferred tax assets: | |||||||||
Allowance for loan losses | $ | 3,119 | $ | 3,035 | |||||
Deferred interest from non-accrual assets | 415 | 455 | |||||||
Other | 321 | 247 | |||||||
Total | 3,855 | 3,737 | |||||||
Deferred tax liabilities: | |||||||||
Net unrealized gains on available-for-sale securities | -1,413 | -639 | |||||||
Loan fees and costs | -1,400 | -1,276 | |||||||
Automobile leasing | -463 | -283 | |||||||
Depreciation | -367 | -348 | |||||||
Mortgage loan servicing rights | -342 | -388 | |||||||
Other | -31 | -34 | |||||||
Total | -4,016 | -2,968 | |||||||
Deferred tax (liability) asset, net | $ | -161 | $ | 769 | |||||
The components of the total provision for income taxes for the years indicated are as follows: | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Current | $ | 2,010 | $ | -3,531 | $ | 2,011 | |||
Deferred | 156 | 6,166 | -452 | ||||||
Total provision for income taxes | $ | 2,166 | $ | 2,635 | $ | 1,559 | |||
The reconciliation between the expected statutory income tax and the actual provision for income taxes is as follows: | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Expected provision at the statutory rate | $ | 2,896 | $ | 3,317 | $ | 2,197 | |||
Tax-exempt income | -671 | -589 | -563 | ||||||
Bank owned life insurance | -115 | -114 | -111 | ||||||
Low income housing credits | - | -10 | -10 | ||||||
Nondeductible interest expense | 16 | 14 | 16 | ||||||
Nondeductible other expenses and other, net | 40 | 17 | 30 | ||||||
Actual provision for income taxes | $ | 2,166 | $ | 2,635 | $ | 1,559 | |||
Retirement_Plan
Retirement Plan | 12 Months Ended |
Dec. 31, 2014 | |
Retirement Plan [Abstract] | |
Retirement Plan | 12.RETIREMENT PLAN |
The Company has a defined contribution profit sharing 401(k) plan covering substantially all of its employees. The plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Contributions to the plan approximated $0.3 million in 2014, 2013 and 2012. | |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Fair Value Measurements [Abstract] | |||||||||||||||
Fair Value Measurements | 13.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, other real estate owned (ORE) and other repossessed assets. | |||||||||||||||
The following table represents the carrying amount and estimated fair value of the Company’s financial instruments: | |||||||||||||||
31-Dec-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 | $ | 25,851 | $ | 25,851 | $ | 25,851 | $ | - | $ | - | |||||
Available-for-sale securities | 97,896 | 97,896 | 595 | 97,301 | - | ||||||||||
FHLB stock | 1,306 | 1,306 | - | 1,306 | - | ||||||||||
Loans and leases, net | 506,327 | 505,387 | - | - | 505,387 | ||||||||||
Loans held-for-sale | 1,161 | 1,186 | - | 1,186 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 586,944 | 586,756 | - | 586,756 | - | ||||||||||
Short-term borrowings | 3,969 | 3,969 | - | 3,969 | - | ||||||||||
Long-term debt | 10,000 | 10,758 | - | 10,758 | - | ||||||||||
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 following tables illustrate the financial instruments measured at fair value on a recurring basis segregated by hierarchy fair value levels as of the period indicated: | |||||||||||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 31-Dec-14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 14,398 | $ | - | $ | 14,398 | $ | - | |||||||
Obligations of states and political subdivisions | 37,033 | - | 37,033 | - | |||||||||||
MBS - GSE residential | 45,870 | - | 45,870 | - | |||||||||||
Equity securities - financial services | 595 | 595 | - | - | |||||||||||
Total available-for-sale securities | $ | 97,896 | $ | 595 | $ | 97,301 | $ | - | |||||||
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 years ended December 31, 2014 and 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 for the period indicated. Prior to December 31, 2013, Level 3 financial instruments measured at fair value consisted of the Company’s investment in pooled trust preferred securities. During the fourth quarter of 2013, the Company sold its entire position of pooled trust preferred securities. For a further discussion on the Company’s former investment, fair value determination and activity of its pooled trust preferred securities portfolio, see Note 4, “Investment Securities”, and Note 13, “Fair Value Measurements”, within the audited consolidated financial statements, incorporated by reference to the Company’s 2013 Form 10-K filed with the SEC on March 19, 2014: | |||||||||||||||
(dollars in thousands) | |||||||||||||||
As of and for the year ended December 31, 2013 | |||||||||||||||
Balance at beginning of period | $ | 1,825 | |||||||||||||
Realized gains in earnings | 2,873 | ||||||||||||||
Unrealized gains (losses) in OCI: | |||||||||||||||
Gains | 4,958 | ||||||||||||||
Losses | -460 | ||||||||||||||
Pay down / settlement | -9,205 | ||||||||||||||
Interest paid-in-kind | 6 | ||||||||||||||
Accretion | 3 | ||||||||||||||
Balance at end of period | $ | - | |||||||||||||
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 December 31, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 2,158 | $ | - | $ | - | $ | 2,158 | |||||||
Other real estate owned | 1,506 | - | - | 1,506 | |||||||||||
Total | $ | 3,664 | $ | - | $ | - | $ | 3,664 | |||||||
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, 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 automobile loan, a component of other repossessed assets. | |||||||||||||||
At December 31, 2014 and 2013, the range of liquidation expenses and other valuation adjustments applied to impaired loans ranged from -19.96% to -42.41% and from -16.00% to -36.15%, respectively. The weighted-average of liquidation expenses and other valuation adjustments applied to impaired loans amounted to -27.26% and -24.84% as of December 31, 2014 and 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 ORE, 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 December 31, 2014 and 2013, the discounts applied to the appraised values of ORE ranged from -19.00% to -99.00% and from -18.22% to -72.17%, respectively. As of December 31, 2014 and 2013, the weighted-average of discount to the appraisal values of ORE amounted to -27.23% and -30.79%, respectively. | |||||||||||||||
As of December 31, 2014, there were no adjustments to the carrying value of other 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. | |||||||||||||||
Financial Instruments with Off-Balance Sheet Risk | |||||||||||||||
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the extent of the Company’s involvement in particular classes of financial instruments. Because of the nature of these instruments, the fair values of these off-balance sheet items are not material. | |||||||||||||||
The notional amount of the Company’s financial instruments with off-balance sheet risk was as follows: | |||||||||||||||
December 31, | |||||||||||||||
(dollars in thousands) | 2014 | 2013 | |||||||||||||
Off-balance sheet financial instruments: | |||||||||||||||
Commitments to extend credit | $ | 92,146 | $ | 89,751 | |||||||||||
Standby letters of credit | 6,872 | 7,718 | |||||||||||||
Commitments to Extend Credit and Standby Letters of Credit | |||||||||||||||
The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | |||||||||||||||
Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if considered necessary by the Company on extension of credit, is based on management’s credit assessment of the customer. | |||||||||||||||
Financial standby letters of credit are conditional commitments issued by the Company to guarantee performance of a customer to a third party. Those guarantees are issued primarily to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The Company’s performance under the guarantee is required upon presentation by the beneficiary of the financial standby letter of credit. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company was not required to recognize any liability in connection with the issuance of these financial standby letters of credit. | |||||||||||||||
The following table summarizes outstanding financial letters of credit as of December 31, 2014: | |||||||||||||||
More than | |||||||||||||||
Less than | one year to | Over five | |||||||||||||
(dollars in thousands) | one year | five years | years | Total | |||||||||||
Secured by: | |||||||||||||||
Collateral | $ | 5,300 | $ | - | $ | 515 | $ | 5,815 | |||||||
Bank lines of credit | 800 | 34 | - | 834 | |||||||||||
6,100 | 34 | 515 | 6,649 | ||||||||||||
Unsecured | 166 | 57 | - | 223 | |||||||||||
Total | $ | 6,266 | $ | 91 | $ | 515 | $ | 6,872 | |||||||
The Company has not incurred losses on its commitments in 2014, 2013 or 2012. | |||||||||||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share | 14.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 year ended December 31, 2014, there were 115 potentially dilutive shares related to issued and unexercised stock options. There were no potentially dilutive shares related to stock options during 2013 and 2012. For restricted stock, dilution would occur from the Company’s previously granted but unvested shares. There were 5,425, 4,674 and 151 potentially dilutive shares related to unvested restricted share grants as of the years ended December 31, 2014, 2013 and 2012, 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 years indicated: | |||||||||
2014 | 2013 | 2012 | |||||||
(dollars in thousands except per share data) | |||||||||
Basic EPS: | |||||||||
Net income available to common shareholders | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Weighted-average common shares outstanding | 2,412,962 | 2,353,056 | 2,286,233 | ||||||
Basic EPS | $ | 2.63 | $ | 3.03 | $ | 2.14 | |||
Diluted EPS: | |||||||||
Net income available to common shareholders | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Weighted-average common shares outstanding | 2,412,962 | 2,353,056 | 2,286,233 | ||||||
Potentially dilutive common shares | 5,540 | 4,674 | 151 | ||||||
Weighted-average common and potentially dilutive shares outstanding | 2,418,502 | 2,357,730 | 2,286,384 | ||||||
Diluted EPS | $ | 2.62 | $ | 3.02 | $ | 2.14 | |||
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Regulatory matters [Abstract] | |||||||||||||||
Regulatory Matters | 15.REGULATORY MATTERS | ||||||||||||||
The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. | |||||||||||||||
Under these guidelines, assets and certain off-balance sheet items are assigned to broad risk categories, each with appropriate weights. The resulting capital ratios represent capital as a percentage of total risk-weighted assets. The guidelines require all banks and bank holding companies to maintain a minimum ratio of total risk-based capital to total risk-weighted assets (Total Risk Adjusted Capital) of 8%, including Tier I capital to total risk-weighted assets (Tier I Capital) of 4% and Tier I capital to average total assets (Leverage Ratio) of at least 4%. As of December 31, 2014 and 2013, the Company and the Bank exceeded all capital adequacy requirements to which it was subject. | |||||||||||||||
In July 2013, the federal bank regulatory agencies issued final rules to implement the Basel III regulatory capital reforms and changes required by the Dodd-Frank Act. Among other things, the final rules revise the risk-based capital requirements and the method of calculating risk-weighted assets. For community banks, such as the Company, the phase-in period began January 1, 2015. The rules establish new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets effective immediately), increases the minimum Tier 1 capital to risk-based assets requirement with a capital conservation buffer to 8.5% by 2019 and increases the minimum total capital requirement with a capital conservation buffer to 10.5% by 2019 and assigns higher risk-weightings to certain assets: past due loans; commercial real estate loans and some equity exposures. The new rules will not have a material impact on the Company’s capital, operations, liquidity and earnings. | |||||||||||||||
The following table reflects the actual and required capital and the related capital ratios as of the periods indicated. No amounts were deducted from capital for interest-rate risk in either 2014 or 2013. | |||||||||||||||
To be well capitalized | |||||||||||||||
For capital | under prompt corrective | ||||||||||||||
Actual | adequacy purposes | action provisions | |||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||
As of December 31, 2014: | |||||||||||||||
Total capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 75,756 | 15.3% | ≥ | $ | 39,730 | ≥ | 8.0% | N/A | N/A | |||||
Bank | $ | 75,230 | 15.2% | ≥ | $ | 39,728 | ≥ | 8.0% | ≥ | $ | 49,660 | ≥ | 10.0% | ||
Tier I capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 69,376 | 14.0% | ≥ | $ | 19,865 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 68,985 | 13.9% | ≥ | $ | 19,864 | ≥ | 4.0% | ≥ | $ | 29,796 | ≥ | 6.0% | ||
Tier I capital (to average assets) | |||||||||||||||
Consolidated | $ | 69,376 | 10.0% | ≥ | $ | 27,679 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 68,985 | 10.0% | ≥ | $ | 27,658 | ≥ | 4.0% | ≥ | $ | 34,573 | ≥ | 5.0% | ||
As of December 31, 2013: | |||||||||||||||
Total capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 70,669 | 15.2% | ≥ | $ | 37,255 | ≥ | 8.0% | N/A | N/A | |||||
Bank | $ | 70,373 | 15.1% | ≥ | $ | 37,251 | ≥ | 8.0% | ≥ | $ | 46,563 | ≥ | 10.0% | ||
Tier I capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 64,706 | 13.9% | ≥ | $ | 18,628 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 64,512 | 13.9% | ≥ | $ | 18,625 | ≥ | 4.0% | ≥ | $ | 27,938 | ≥ | 6.0% | ||
Tier I capital (to average assets) | |||||||||||||||
Consolidated | $ | 64,706 | 10.3% | ≥ | $ | 25,089 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 64,512 | 10.3% | ≥ | $ | 25,073 | ≥ | 4.0% | ≥ | $ | 31,341 | ≥ | 5.0% | ||
The Bank can pay dividends to the Company equal to the Bank’s retained earnings which approximated $60.3 million at December 31, 2014. However, such dividends are limited due to the capital requirements discussed above. | |||||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Related Party Transactions | 16.RELATED PARTY TRANSACTIONS | ||||||||
During the ordinary course of business, loans are made to executive officers, directors, greater than 5% shareholders and associates of such persons. These transactions are executed on substantially the same terms and at the rates prevailing at the time for comparable transactions with others. These loans do not involve more than the normal risk of collectability or present other unfavorable features. A summary of loan activity with officers, directors, associates of such persons and shareholders who own more than 5% of the Company’s outstanding shares is as follows: | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Balance, beginning | $ | 2,821 | $ | 3,033 | $ | 2,241 | |||
Additions | 1,782 | 1,470 | 2,369 | ||||||
Collections | -1,826 | -1,682 | -1,577 | ||||||
Balance, ending | $ | 2,777 | $ | 2,821 | $ | 3,033 | |||
Aggregate loans to directors and associates exceeding 2.5% of shareholders’ equity included in the table above are as follows: | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Number of persons | 1 | 1 | 1 | ||||||
Balance, beginning | $ | 1,883 | $ | 2,105 | $ | 1,910 | |||
Additions | 1,184 | 816 | 1,251 | ||||||
Collections | -1,423 | -1,038 | -1,056 | ||||||
Balance, ending | $ | 1,644 | $ | 1,883 | $ | 2,105 | |||
As of December 31, 2014, 2013 and 2012, deposits from executive officers, directors and associates of such persons approximated $13.7 million, $11.1 million and $11.7 million, respectively. | |||||||||
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Quarterly Financial Information (Unaudited) [Abstract] | |||||||||||||||
Quarterly Financial Information (Unaudited) | 17. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | ||||||||||||||
The following is a summary of quarterly results of operations for the years indicated: | |||||||||||||||
2014 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 6,002 | $ | 6,145 | $ | 6,295 | $ | 6,402 | $ | 24,844 | |||||
Interest expense | -707 | -721 | -730 | -759 | -2,917 | ||||||||||
Net interest income | 5,295 | 5,424 | 5,565 | 5,643 | 21,927 | ||||||||||
Provision for loan losses | -300 | -300 | -210 | -250 | -1,060 | ||||||||||
Gain on sale of investment securities | 207 | 94 | - | 298 | 599 | ||||||||||
Other income | 1,531 | 1,727 | 1,748 | 1,749 | 6,755 | ||||||||||
Other expenses | -4,785 | -4,761 | -4,910 | -5,247 | -19,703 | ||||||||||
Income before taxes | 1,948 | 2,184 | 2,193 | 2,193 | 8,518 | ||||||||||
Provision for income taxes | -492 | -557 | -562 | -555 | -2,166 | ||||||||||
Net income | $ | 1,456 | $ | 1,627 | $ | 1,631 | $ | 1,638 | $ | 6,352 | |||||
Net income per share - basic | $ | 0.61 | $ | 0.67 | $ | 0.68 | $ | 0.67 | $ | 2.63 | |||||
Net income per share - diluted | $ | 0.61 | $ | 0.67 | $ | 0.67 | $ | 0.67 | $ | 2.62 | |||||
2013 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 5,968 | $ | 5,912 | $ | 5,954 | $ | 6,019 | $ | 23,853 | |||||
Interest expense | -735 | -732 | -748 | -753 | -2,968 | ||||||||||
Net interest income | 5,233 | 5,180 | 5,206 | 5,266 | 20,885 | ||||||||||
Provision for loan losses | -550 | -600 | -450 | -950 | -2,550 | ||||||||||
Gain on sale and recovery of investment securities | 119 | 9 | 138 | 2,902 | 3,168 | ||||||||||
Other income | 1,949 | 2,042 | 1,770 | 1,612 | 7,373 | ||||||||||
Other expenses | -4,880 | -4,606 | -4,644 | -4,989 | -19,119 | ||||||||||
Income before taxes | 1,871 | 2,025 | 2,020 | 3,841 | 9,757 | ||||||||||
Provision for income taxes | -477 | -512 | -515 | -1,131 | -2,635 | ||||||||||
Net income | $ | 1,394 | $ | 1,513 | $ | 1,505 | $ | 2,710 | $ | 7,122 | |||||
Net income per share - basic | $ | 0.60 | $ | 0.64 | $ | 0.64 | $ | 1.15 | $ | 3.03 | |||||
Net income per share - diluted | $ | 0.60 | $ | 0.64 | $ | 0.64 | $ | 1.14 | $ | 3.02 | |||||
2012 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 6,052 | $ | 5,991 | $ | 5,974 | $ | 5,977 | $ | 23,994 | |||||
Interest expense | -938 | -838 | -804 | -774 | -3,354 | ||||||||||
Net interest income | 5,114 | 5,153 | 5,170 | 5,203 | 20,640 | ||||||||||
Provision for loan losses | -700 | -600 | -700 | -1,250 | -3,250 | ||||||||||
Gain on sale and recovery of investment securities | 254 | 7 | 3 | 64 | 328 | ||||||||||
Other-than-temporary impairment | -105 | -31 | - | - | -136 | ||||||||||
Other income | 1,840 | 1,927 | 1,891 | 1,802 | 7,460 | ||||||||||
Other expenses | -4,751 | -4,709 | -4,479 | -4,642 | -18,581 | ||||||||||
Income before taxes | 1,652 | 1,747 | 1,885 | 1,177 | 6,461 | ||||||||||
Provision for income taxes | -395 | -430 | -486 | -248 | -1,559 | ||||||||||
Net income | $ | 1,257 | $ | 1,317 | $ | 1,399 | $ | 929 | $ | 4,902 | |||||
Net income per share | $ | 0.56 | $ | 0.57 | $ | 0.61 | $ | 0.40 | $ | 2.14 | |||||
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2014 | |
Contingencies [Abstract] | |
Contingencies | 18. CONTINGENCIES |
The nature of the Company’s business generates litigation involving matters arising in the ordinary course of business. However, in the opinion of management of the Company after consulting with the Company’s legal counsel, no legal proceedings are pending, which, if determined adversely to the Company or the Bank, would have a material effect on the Company’s shareholders’ equity or results of operations. No legal proceedings are pending other than ordinary routine litigation incident to the business of the Company and the Bank. In addition, to management’s knowledge, no government authorities have initiated or contemplated any material legal actions against the Company or the Bank. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Recent Accounting Pronouncements [Abstract] | ||||
Recent Accounting Pronouncements | 19. RECENT ACCOUNTING PRONOUNCEMENTS | |||
In an exposure draft issued in the fourth quarter of 2012, the Financial Accounting Standards Board (FASB) proposed changes to the accounting guidance related to the impairment of financial assets and the recognition of credit losses. The FASB proposal would require financial institutions to reserve for losses for the duration of the credit exposure as opposed to reserving for probable losses. The new methodology would be known as the “current expected credit losses” (CECL) methodology. The FASB is currently in the process of re-deliberating significant issues raised through feedback received from comment letters and outreach activities. Among other things, the guidance in the proposed update regarding an entity’s estimate of expected credit losses will be clarified as follows: | ||||
· | An entity should revert to a historical average loss experience for the future periods beyond which the entity is able to make or obtain reasonable and supportable forecasts; | |||
· | An entity should consider all contractual cash flows over the life of the related financial assets; | |||
· | When determining the contractual cash flows and the life of the related financial assets: | |||
o | An entity should consider expected prepayments; | |||
o | An entity should not consider expected extensions, renewals, and modifications unless the entity reasonably expects that it will execute a troubled debt restructuring with a borrower; | |||
· | An entity’s estimate of expected credit losses should always reflect the risk of loss, even when that risk is remote. However, an entity would not be required to recognize a loss on a financial asset in which the risk of nonpayment is greater than zero yet the amount of loss would be zero; | |||
· | In addition to using a discounted cash flow model to estimate expected credit losses, an entity would not be prohibited from developing an estimate of credit losses using loss-rate methods, probability-of-default methods or a provision matrix using loss factors; | |||
· | The final guidance on expected credit losses will include implementation guidance describing the factors that an entity should consider to adjust historical loss experience for current conditions and reasonable and supportable forecast. | |||
FASB expects to issue this proposed accounting standard update in late 2015. An effective date has yet to be discussed. Upon adoption, the change in this accounting guidance could result in an increase in the Company's allowance for loan losses and require the Company to record loan losses more rapidly. Upon final issuance of the standard, the Company will be able to better evaluate the potential impact of this new standard on its consolidated financial statements. | ||||
In August 2014, the FASB issued an accounting standard update (ASU 2014-14) related to; Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The update requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) The loan has a government guarantee that is not separable from the loan before foreclosure; (2) At the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; (3) At the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. 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. The Company will adopt this accounting standard during the first quarter of 2015 and does not expect it to have a material impact on its consolidated financial statements. | ||||
In June 2014, the FASB issued an amendment to the stock compensation accounting guidance to clarify that a performance target that affects vesting of a share-based payment and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. This amendment is effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The Company does not expect this amendment to have a material impact on its consolidated 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 effective in the first quarter of 2017. | ||||
In January 2014, the FASB issued 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. The Company will adopt this accounting standard during the first quarter of 2015 and does not expect it to have a material impact on its consolidated financial statements. | ||||
Parent_Company_Only
Parent Company Only | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Parent Company Only [Abstract] | |||||||||
Parent Company Only | 20. PARENT COMPANY ONLY | ||||||||
The following is the condensed financial information for Fidelity D & D Bancorp, Inc. on a parent company only basis as of and for the years indicated: | |||||||||
Condensed Balance Sheets | As of December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Assets: | |||||||||
Cash | $ | 164 | $ | 2 | |||||
Investment in subsidiary | 71,631 | 65,716 | |||||||
Securities available-for-sale | 594 | 523 | |||||||
Other assets | 36 | - | |||||||
Total | $ | 72,425 | $ | 66,241 | |||||
Liabilities and shareholders' equity: | |||||||||
Liabilities | $ | 206 | $ | 181 | |||||
Capital stock and retained earnings | 69,476 | 64,821 | |||||||
Accumulated other comprehensive income | 2,743 | 1,239 | |||||||
Total | $ | 72,425 | $ | 66,241 | |||||
Condensed Income Statements | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Income: | |||||||||
Equity in undistributed earnings of subsidiary | $ | 4,458 | $ | 6,173 | $ | 3,996 | |||
Dividends from subsidiary | 2,242 | 1,190 | 1,131 | ||||||
Other income | 22 | 20 | 20 | ||||||
Total income | 6,722 | 7,383 | 5,147 | ||||||
Operating expenses | 539 | 388 | 347 | ||||||
Income before taxes | 6,183 | 6,995 | 4,800 | ||||||
Credit for income taxes | 169 | 127 | 102 | ||||||
Net income | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Statements of Comprehensive Income | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Bancorp net loss | $ | -348 | $ | -241 | $ | -225 | |||
Equity in net income of subsidiary | 6,700 | 7,363 | 5,127 | ||||||
Net income | 6,352 | 7,122 | 4,902 | ||||||
Other comprehensive income, before tax: | |||||||||
Unrealized holding gains on available-for-sale securities | 71 | 58 | 27 | ||||||
Reclassification adjustment for gains realized in income | - | - | - | ||||||
Net unrealized gains | 71 | 58 | 27 | ||||||
Tax effect | -24 | -20 | -9 | ||||||
Unrealized gain, net of tax | 47 | 38 | 18 | ||||||
Equity in other comprehensive income of subsidiary | 1,457 | 965 | 1,328 | ||||||
Other comprehensive income, net of tax | 1,504 | 1,003 | 1,346 | ||||||
Total comprehensive income, net of tax | $ | 7,856 | $ | 8,125 | $ | 6,248 | |||
Condensed Statements of Cash Flows | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Cash flows from operating activities: | |||||||||
Net income | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Adjustments to reconcile net income to net cash used in operations: | |||||||||
Equity in earnings of subsidiary | -6,700 | -7,363 | -5,127 | ||||||
Stock-based compensation expense | 207 | 112 | 15 | ||||||
Changes in other assets and liabilities, net | -35 | 62 | 20 | ||||||
Net cash used in operating activities | -176 | -67 | -190 | ||||||
Cash flows provided by investing activities: | |||||||||
Dividends received from subsidiary | 2,242 | 1,190 | 1,131 | ||||||
Net cash provided by investing activities | 2,242 | 1,190 | 1,131 | ||||||
Cash flows used in financing activities: | |||||||||
Dividends paid, net of dividend reinvestment | -2,088 | -1,596 | -1,493 | ||||||
Cash contributions from dividend reinvestment plan | 104 | 395 | 486 | ||||||
Withholdings to purchase capital stock | 80 | 78 | 67 | ||||||
Net cash used in financing activities | -1,904 | -1,123 | -941 | ||||||
Net change in cash | 162 | - | - | ||||||
Cash, beginning | 2 | 2 | 2 | ||||||
Cash, ending | $ | 164 | $ | 2 | $ | 2 | |||
Nature_Of_Operations_And_Summa1
Nature Of Operations And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Nature Of Operations And Summary Of Significant Accounting Policies [Abstract] | ||||
Principles Of Consolidation | PRINCIPLES OF CONSOLIDATION | |||
The accompanying consolidated financial statements include the accounts of Fidelity D & D Bancorp, Inc. and its wholly-owned subsidiary, The Fidelity Deposit and Discount Bank (the Bank) (collectively, the Company). All significant inter-company balances and transactions have been eliminated in consolidation. | ||||
Nature Of Operations | NATURE OF OPERATIONS | |||
The Company provides a full range of banking, trust and financial services to individuals, small businesses and corporate customers. Its primary market areas are Lackawanna and Luzerne Counties, Pennsylvania. The Company's primary deposit products are demand deposits and interest-bearing time and savings accounts. It offers a full array of loan products to meet the needs of retail and commercial customers. The Company is subject to regulation by the Federal Deposit Insurance Corporation (FDIC) and the Pennsylvania Department of Banking. | ||||
Use Of Estimates | USE OF ESTIMATES | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reporting period. Actual results could differ from those estimates. | ||||
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of investment securities, the determination and the amount of impairment in the securities portfolios and the related realization of the deferred tax assets related to the allowance for loan losses, other-than-temporary impairment on and valuations of investment securities. | ||||
In connection with the determination of the allowance for loan losses, management generally obtains independent appraisals for significant properties. While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in economic conditions. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near-term. However, the amount of the change that is reasonably possible cannot be estimated. | ||||
The Company’s investment securities are comprised of a variety of financial instruments. The fair values of the securities are subject to various risks including changes in the interest rate environment and general economic conditions including illiquid conditions in the capital markets. Due to the increased level of these risks and their potential impact on the fair values of the securities, it is possible that the amounts reported in the accompanying financial statements could materially change in the near-term including changes caused by other-than-temporary impairment, the recovery of which may not occur until maturity. Credit-related impairment is included as a component of non-interest income in the consolidated income statements while non-credit-related impairment is charged to other comprehensive income, net of tax. | ||||
Significant Group Concentration Of Credit Risk | SIGNIFICANT GROUP CONCENTRATION OF CREDIT RISK | |||
The Company originates commercial, consumer, and mortgage loans to customers primarily located in Lackawanna and Luzerne Counties of Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic sector in which the Company operates. The loan portfolio does not have any significant concentrations from one industry or customer. | ||||
Held-To-Maturity Securities | HELD-TO-MATURITY SECURITIES | |||
Debt securities, for which the Company has the positive intent and ability to hold to maturity, are reported at cost. Premiums and discounts are amortized or accreted, as a component of interest income over the life of the related security as an adjustment to yield using the interest method. | ||||
Trading Securities | TRADING SECURITIES | |||
Debt and equity securities held principally for resale in the near-term, or trading securities, are recorded at their fair values. Unrealized gains and losses are included in other income. The Company did not have investment securities held for trading purposes during 2014, 2013 or 2012. | ||||
Available-For-Sale Securities | AVAILABLE-FOR-SALE SECURITIES | |||
Available-for-sale (AFS) securities consist of debt and equity securities classified as neither held-to-maturity nor trading and are reported at fair value. Premiums and discounts are amortized or accreted as a component of interest income over the life of the related security as an adjustment to yield using the interest method. Unrealized holding gains and losses, including non-credit-related other-than-temporary impairment (OTTI), on AFS securities are reported as a separate component of shareholders’ equity, net of deferred income taxes, until realized. The net unrealized holding gains and losses are a component of accumulated other comprehensive income. Gains and losses from sales of securities AFS are determined using the specific identification method. Credit-related OTTI is recorded as a reduction of the amortized cost of the impaired security. Net gains and losses from sales and recoveries of securities and credit-related OTTI are recorded as components of other income in the consolidated statements of income. | ||||
Federal Home Loan Bank Stock | FEDERAL HOME LOAN BANK STOCK | |||
The Company, is a member of the Federal Home Loan Bank system, and as such is required to maintain an investment in capital stock of the Federal Home Loan Bank of Pittsburgh (FHLB). The amount the Company is required to invest is dependent upon the relative size of outstanding borrowings the Company has with the FHLB. Based on redemption provisions of the FHLB, the stock has no quoted market value and is carried at cost. | ||||
Loans | LOANS | |||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at face value, net of unamortized loan fees and costs and the allowance for loan losses. Interest on residential real estate loans is recorded based on principal pay downs on an actual days basis. Commercial loan interest is accrued on the principal balance on an actual days basis. Interest on consumer loans is determined using the simple interest method. | ||||
Generally, loans are placed on non-accrual status when principal or interest is past due 90 days or more. When a loan is placed on non-accrual status, all interest previously accrued but not collected is charged against current earnings. Any payments received on non-accrual loans are applied, first to the outstanding loan amounts, then to the recovery of any charged-off loan amounts. Any excess is treated as a recovery of lost interest. | ||||
A modification of a loan constitutes a troubled debt restructuring (TDR) when a borrower is experiencing financial difficulty and the Company grants a concession that it would not otherwise grant based on current underwriting standards. Regardless of the type of concession, when modifying a loan forgiveness of principal is rarely granted. | ||||
Loans Held-For-Sale | LOANS HELD-FOR-SALE | |||
Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Unrealized gains are recognized but only to the extent of previous write-downs. | ||||
Automobile Leasing | AUTOMOBILE LEASING | |||
Financing of automobiles, provided to customers under lease arrangements of varying terms, are accounted for as direct finance leases. Interest 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. | ||||
Allowance For Loan Losses | ALLOWANCE FOR LOAN LOSSES | |||
The allowance for loan losses is established through a provision for loan losses. The allowance represents an amount which, in management’s judgment, will be adequate to absorb losses on existing loans that may become uncollectible. Management’s judgment in determining the adequacy of the allowance is based on evaluations of the collectability of the loans. These evaluations take into consideration such factors as changes in the nature and volume of the loan portfolio, current economic conditions that may affect the borrower’s ability to pay, collateral value, overall portfolio quality and review of specific loans for impairment. Management applies two primary components during the loan review process to determine proper allowance levels; a specific loan loss allocation for loans that are deemed impaired; and a general loan loss allocation for those loans not specifically allocated based on historical charge-off history and qualitative factor adjustments for trends or changes in the loan portfolio. Delinquencies, changes in lending policies and local economic conditions are some of the items used for the qualitative factor adjustments. Loans considered uncollectible are charged against the allowance. Recoveries on loans previously charged off are added to the allowance. | ||||
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, troubled debt restructurings (TDRs) and other loans deemed to be impaired based on the aforementioned factors. | ||||
The risk characteristics of each of the identified portfolio segments are as follows: | ||||
Commercial and industrial loans (C&I): C&I loans are primarily based on the identified historic and/or the projected cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of the borrower, however, do fluctuate based on changes in the company’s internal and external environment including management, human and capital resources, economic conditions, competition and regulation. Most C&I loans are secured by business assets being financed such as equipment, accounts receivable, and/or inventory and generally incorporate a secured or unsecured personal guarantee. Unsecured loans may be made on a short-term basis. The ability of the borrower to collect amounts due from its customers may be affected by its customers’ economic and financial condition. | ||||
Commercial real estate loans: Commercial real estate loans are made to finance the purchase of real estate, refinance existing obligations and/or to provide capital. These commercial real estate loans are generally secured by first lien security interests in the real estate as well as assignment of leases and rents. The real estate may include apartments, hotels, retail stores or plazas and healthcare facilities whether they are owner or non-owner occupied. These loans are typically originated in amounts of no more than 80% of the appraised value of the property. | ||||
Consumer loans: The Company offers home equity installment loans and lines of credit. Risks associated with loans secured by residential properties are generally lower than commercial real estate loans and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market. Since most loans are secured by a primary or secondary residence, the borrower’s continued employment is considered the greatest risk to repayment. The Company also offers a variety of loans to individuals for personal and household purposes. These loans are generally considered to have greater risk than mortgages on real estate because they may be unsecured, or if they are secured, the value of the collateral may be difficult to assess and more likely to decrease in value than real estate. | ||||
Residential mortgage loans: Residential mortgages are secured by a first lien position of the borrower’s residential real estate. These loans have varying loan rates depending on the financial condition of the borrower and the loan to value ratio. Residential mortgages have terms up to thirty years with amortizations varying from 10 to 30 years. The majority of the loans are underwritten according to FNMA and/or FHLB standards. | ||||
Transfer Of Financial Assets | TRANSFER OF FINANCIAL ASSETS | |||
Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: the assets have been isolated from the Company—put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | ||||
Loan Fees And Costs | LOAN FEES AND COSTS | |||
Nonrefundable loan origination fees and certain direct loan origination costs are recognized as a component of interest income over the life of the related loans as an adjustment to yield. The unamortized balance of the deferred fees and costs are included as components of the loan balances to which they relate. | ||||
Bank Premises And Equipment | BANK PREMISES AND EQUIPMENT | |||
Land is carried at cost. Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the lease or the estimated useful lives of the improved property. | ||||
Bank Owned Life Insurance | BANK OWNED LIFE INSURANCE | |||
The Company maintains bank owned life insurance (BOLI) for a chosen group of employees, at the time of purchase, namely its officers where the Company is the owner and sole beneficiary of the policies. The earnings from the BOLI are recognized as a component of other income in the consolidated statements of income. The BOLI is an asset that can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in the cash surrender value. | ||||
Foreclosed Assets Held-For-Sale | FORECLOSED ASSETS HELD-FOR-SALE | |||
Foreclosed assets held-for-sale are carried at the lower of cost or fair value less cost to sell. Losses from the acquisition of property in full and partial satisfaction of debt are treated as credit losses. Routine holding costs, gains and losses from sales, write-downs for subsequent declines in value and any rental income received are recognized net, as a component of other real estate owned expense in the consolidated statements of income. Gains or losses are recorded when the properties are sold. | ||||
Stock Plans | STOCK PLANS | |||
The Company has two stock-based compensation plans. The Company accounts for these plans under the recognition and measurement accounting principles, which requires the cost of share-based payment transactions be recognized in the financial statements. The stock-based compensation accounting guidance requires that compensation cost for stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. Compensation cost is recognized on a straight-line basis over the requisite service period. When granting stock options, the Company uses the Black-Sholes option pricing model to determine their estimated fair value on the date of grant. | ||||
Trust And Financial Service Fees | TRUST AND FINANCIAL SERVICE FEES | |||
Trust and financial service fees are recorded on the cash basis, which is not materially different from the accrual basis. | ||||
Advertising Costs | ADVERTISING COSTS | |||
Advertising costs are charged to expense as incurred. | ||||
Legal And Professional Expenses | LEGAL AND PROFESSIONAL EXPENSES | |||
Generally, the Company recognizes legal and professional fees as incurred and are included as a component of professional services expense in the consolidated statements of income. Legal costs incurred that are associated with the collection of outstanding amounts due from delinquent borrowers are included as a component of loan collection expense in the consolidated statements of income. In the event of litigation proceedings brought about by an employee or third party against the Company, expenses for damages will be accrued if the likelihood of the outcome against the Company is probable, the amount can be reasonably estimated and the amount would have a material impact on the financial results of the Company. | ||||
Fair Value of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS | |||
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 is 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 and leases: 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 are 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. | ||||
Income Taxes | INCOME TAXES | |||
Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. | ||||
Cash Flows | CASH FLOWS | |||
For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and interest-bearing deposits with financial institutions. | ||||
For the years ended December 31, 2014, 2013, and 2012, the Company paid interest of $2.9 million, $3.0 million and $3.5 million, respectively. For the years ended December 31, 2014, 2013, and 2012, the Company paid income taxes of $1.7 million, $1.3 million and $2.2 million, respectively. | ||||
Transfers from loans to foreclosed assets held-for-sale amounted to $1.2 million, $2.4 million and $1.8 million in 2014, 2013, and 2012, respectively. Transfers from loans to loans held-for-sale amounted to $0.2 million, $3.7 million and $3.6 million in 2014, 2013 and 2012, respectively. During 2014, transfers from loans to bank premises and equipment amounted to $1.0 million. There were no transfers from loans to bank premises and equipment in 2013 or 2012. Expenditures for construction in process, a component of other assets in the consolidated balance sheets, are included in acquisition of premises and equipment. | ||||
Reclassification Adjustments | RECLASSIFICATION ADJUSTMENTS | |||
Certain reclassifications have been made to the 2012 financial statements to conform to the 2014 presentation. | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||||||
Schedule Of Accumulated Other Comprehensive Income Loss | |||||||||
As of and for the year ended December 31, 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 | 1,899 | - | 1,899 | ||||||
Amounts reclassified from accumulated other comprehensive income | -395 | - | -395 | ||||||
Net current-period other comprehensive income | 1,504 | - | 1,504 | ||||||
Ending balance | $ | 2,743 | $ | - | $ | 2,743 | |||
As of and for the year ended December 31, 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 | -624 | 3,718 | 3,094 | ||||||
Amounts reclassified from accumulated other comprehensive income | -42 | -2,049 | -2,091 | ||||||
Net current-period other comprehensive (loss) income | -666 | 1,669 | 1,003 | ||||||
Ending balance | $ | 1,239 | $ | - | $ | 1,239 | |||
In the table above, all amounts are net of tax at 34%. Amounts in parentheses indicate debits. | |||||||||
Reclassification Out Of Accumulated Other Comprehensive Income | |||||||||
Details about accumulated other | |||||||||
comprehensive income components | Affected line item in the statement | ||||||||
(dollars in thousands) | where net income is presented | ||||||||
Years ended | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Unrealized gains on AFS securities | $ | 599 | $ | 3,168 | Gain on sale, recovery, or disposal of investment securities | ||||
-204 | -1,077 | Provision for income taxes | |||||||
Total reclassifications for the period | $ | 395 | $ | 2,091 | Net income | ||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Investment Securities [Abstract] | |||||||||||||||||||
Amortized Cost And Fair Value Of Investment Securities | |||||||||||||||||||
Gross | Gross | ||||||||||||||||||
Amortized | unrealized | unrealized | Fair | ||||||||||||||||
(dollars in thousands) | cost | gains | losses | value | |||||||||||||||
31-Dec-14 | |||||||||||||||||||
Held-to-maturity securities: | |||||||||||||||||||
MBS - GSE residential | $ | - | $ | - | $ | - | $ | - | |||||||||||
Available-for-sale securities: | |||||||||||||||||||
Agency - GSE | $ | 14,380 | $ | 29 | $ | 11 | $ | 14,398 | |||||||||||
Obligations of states and political subdivisions | 34,609 | 2,444 | 20 | 37,033 | |||||||||||||||
MBS - GSE residential | 44,455 | 1,438 | 23 | 45,870 | |||||||||||||||
Total debt securities | 93,444 | 3,911 | 54 | 97,301 | |||||||||||||||
Equity securities - financial services | 295 | 300 | - | 595 | |||||||||||||||
Total available-for-sale securities | $ | 93,739 | $ | 4,211 | $ | 54 | $ | 97,896 | |||||||||||
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 | $ | 1,004 | $ | 1,000 | |||||||||||||||
Due after one year through five years | 12,301 | 12,318 | |||||||||||||||||
Due after five years through ten years | 3,809 | 3,971 | |||||||||||||||||
Due after ten years | 31,875 | 34,142 | |||||||||||||||||
Total debt securities | 48,989 | 51,431 | |||||||||||||||||
MBS - GSE residential | 44,455 | 45,870 | |||||||||||||||||
Total available-for-sale debt securities | $ | 93,444 | $ | 97,301 | |||||||||||||||
Schedule Of Realized Gain (Loss) | |||||||||||||||||||
December 31, | |||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||||||||||||
Gross realized gain | $ | 603 | $ | 4,314 | $ | 251 | |||||||||||||
Gross realized loss | -4 | -1,335 | - | ||||||||||||||||
Recovery of previously charged-off PreTSLs | - | 189 | 77 | ||||||||||||||||
Net gain | $ | 599 | $ | 3,168 | $ | 328 | |||||||||||||
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 | |||||||||||||
31-Dec-14 | |||||||||||||||||||
Agency - GSE | $ | 4,100 | $ | 11 | $ | 1,024 | $ | - | $ | 5,124 | $ | 11 | |||||||
Obligations of states and political subdivisions | 1,767 | 11 | 670 | 9 | 2,437 | 20 | |||||||||||||
MBS - GSE residential | 3,761 | 23 | - | - | 3,761 | 23 | |||||||||||||
Total temporarily impaired securities | $ | 9,628 | $ | 45 | $ | 1,694 | $ | 9 | $ | 11,322 | $ | 54 | |||||||
Number of securities | 9 | 3 | 12 | ||||||||||||||||
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 | ||||||||||||||||
Other Than Temporary Impairment, Credit Losses Recognized In Earnings | |||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||
Pooled trust preferred securities: | |||||||||||||||||||
PreTSL IX, B1, B3 | $ | 18 | |||||||||||||||||
PreTSL XVIII, C | 118 | ||||||||||||||||||
Total | $ | 136 | |||||||||||||||||
Loans_And_Leases_Tables
Loans And Leases (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Loans And Leases [Abstract] | ||||||||||||||||||||||||
Loan Classifications | ||||||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Commercial and industrial | $ | 80,301 | $ | 74,551 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 94,771 | 89,255 | ||||||||||||||||||||||
Owner occupied | 95,780 | 86,294 | ||||||||||||||||||||||
Construction | 5,911 | 10,765 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 32,819 | 34,480 | ||||||||||||||||||||||
Home equity line of credit | 42,188 | 36,836 | ||||||||||||||||||||||
Auto loans and leases | 27,972 | 22,261 | ||||||||||||||||||||||
Other | 6,501 | 5,205 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 119,154 | 110,365 | ||||||||||||||||||||||
Construction | 10,298 | 8,188 | ||||||||||||||||||||||
Total | 515,695 | 478,200 | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||
Allowance for loan losses | -9,173 | -8,928 | ||||||||||||||||||||||
Unearned lease revenue | -195 | -56 | ||||||||||||||||||||||
Loans and leases, net | $ | 506,327 | $ | 469,216 | ||||||||||||||||||||
Schedule Of Nonaccrual Loans, By Class | ||||||||||||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||||||||||||
Commercial and industrial | $ | 27 | $ | 62 | ||||||||||||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 620 | 1,518 | ||||||||||||||||||||||
Owner occupied | 2,013 | 1,422 | ||||||||||||||||||||||
Construction | 256 | 635 | ||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 312 | 393 | ||||||||||||||||||||||
Home equity line of credit | 417 | 254 | ||||||||||||||||||||||
Auto loans and leases | 1 | 12 | ||||||||||||||||||||||
Other | 20 | 22 | ||||||||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 549 | 1,350 | ||||||||||||||||||||||
Total | $ | 4,215 | $ | 5,668 | ||||||||||||||||||||
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 | |||||||||||||||||||
31-Dec-14 | past due | past due | or more (1) | past due | Current | loans | and accruing | |||||||||||||||||
Commercial and industrial | $ | 34 | $ | 76 | $ | 55 | $ | 165 | $ | 80,136 | $ | 80,301 | $ | 28 | ||||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 624 | 126 | 719 | 1,469 | 93,302 | 94,771 | 99 | |||||||||||||||||
Owner occupied | 366 | 292 | 2,113 | 2,771 | 93,009 | 95,780 | 100 | |||||||||||||||||
Construction | - | - | 256 | 256 | 5,655 | 5,911 | - | |||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 170 | 142 | 767 | 1,079 | 31,740 | 32,819 | 455 | |||||||||||||||||
Home equity line of credit | 13 | - | 417 | 430 | 41,758 | 42,188 | - | |||||||||||||||||
Auto loans and leases | 545 | 111 | 16 | 672 | 27,105 | 27,777 | -2 | 15 | ||||||||||||||||
Other | 38 | 147 | 40 | 225 | 6,276 | 6,501 | 20 | |||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 700 | 548 | 892 | 2,140 | 117,014 | 119,154 | 343 | |||||||||||||||||
Construction | - | - | - | - | 10,298 | 10,298 | - | |||||||||||||||||
Total | $ | 2,490 | $ | 1,442 | $ | 5,275 | $ | 9,207 | $ | 506,293 | $ | 515,500 | $ | 1,060 | ||||||||||
(1) Includes $4.2 million of non-accrual loans. (2) Net of unearned revenue of $0.2 million. | ||||||||||||||||||||||||
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 (1) | 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 | -2 | 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 | ||||||||||
(1) Includes $5.7 million of non-accrual loans. (2) Net of unearned revenue of $56 thousand. | ||||||||||||||||||||||||
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 | ||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Commercial & industrial | $ | 326 | $ | - | $ | 52 | $ | 52 | $ | - | $ | 67 | $ | 1 | $ | - | ||||||||
Commercial real estate: | ||||||||||||||||||||||||
Non-owner occupied | 2,494 | 1,949 | 355 | 2,304 | 547 | 1,557 | 27 | - | ||||||||||||||||
Owner occupied | 2,375 | 447 | 1,825 | 2,272 | 87 | 1,996 | 15 | - | ||||||||||||||||
Construction | 350 | - | 256 | 256 | - | 342 | - | - | ||||||||||||||||
Consumer: | ||||||||||||||||||||||||
Home equity installment | 466 | - | 312 | 312 | - | 358 | 11 | - | ||||||||||||||||
Home equity line of credit | 469 | 128 | 289 | 417 | 1 | 382 | 20 | - | ||||||||||||||||
Auto loans and leases | 1 | - | 1 | 1 | - | 2 | - | - | ||||||||||||||||
Other | 33 | - | 20 | 20 | - | 22 | - | - | ||||||||||||||||
Residential: | ||||||||||||||||||||||||
Real estate | 612 | 304 | 245 | 549 | 35 | 762 | 7 | - | ||||||||||||||||
Construction | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 7,126 | $ | 2,828 | $ | 3,355 | $ | 6,183 | $ | 670 | $ | 5,488 | $ | 81 | $ | - | ||||||||
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) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||
Pass | $ | 76,902 | $ | 71,122 | $ | 83,387 | $ | 78,069 | $ | 88,256 | $ | 82,975 | $ | 5,073 | $ | 9,026 | ||||||||
Special mention | 2,202 | 2,244 | 3,611 | 2,734 | 2,933 | 656 | 502 | 1,037 | ||||||||||||||||
Substandard | 1,197 | 1,185 | 7,773 | 8,452 | 4,591 | 2,663 | 336 | 702 | ||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||
Total | $ | 80,301 | $ | 74,551 | $ | 94,771 | $ | 89,255 | $ | 95,780 | $ | 86,294 | $ | 5,911 | $ | 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) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||
Performing | $ | 32,052 | $ | 34,087 | $ | 41,771 | $ | 36,561 | $ | 27,761 | $ | 22,182 | $ | 6,461 | $ | 5,183 | ||||||||
Non-performing | 767 | 393 | 417 | 275 | 16 | 23 | 40 | 22 | ||||||||||||||||
Total | $ | 32,819 | $ | 34,480 | $ | 42,188 | $ | 36,836 | $ | 27,777 | $ | 22,205 | $ | 6,501 | $ | 5,205 | ||||||||
Mortgage lending credit exposure | ||||||||||||||||||||||||
Credit risk profile based on payment activity | ||||||||||||||||||||||||
Residential real estate | Residential construction | |||||||||||||||||||||||
(dollars in thousands) | 12/31/14 | 12/31/13 | 12/31/14 | 12/31/13 | ||||||||||||||||||||
Performing | $ | 118,262 | $ | 108,899 | $ | 10,298 | $ | 8,188 | ||||||||||||||||
Non-performing | 892 | 1,466 | - | - | ||||||||||||||||||||
Total | $ | 119,154 | $ | 110,365 | $ | 10,298 | $ | 8,188 | ||||||||||||||||
Allowance For Loan Losses | ||||||||||||||||||||||||
As of and for the year ended December 31, 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 | 309 | 239 | 361 | 93 | - | 1,002 | ||||||||||||||||||
Recoveries | 32 | 91 | 30 | 34 | - | 187 | ||||||||||||||||||
Provision | 385 | 567 | 368 | -238 | -22 | 1,060 | ||||||||||||||||||
Ending balance | $ | 1,052 | $ | 4,672 | $ | 1,519 | $ | 1,316 | $ | 614 | $ | 9,173 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | - | $ | 634 | $ | 1 | $ | 35 | $ | 670 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,052 | $ | 4,038 | $ | 1,518 | $ | 1,281 | $ | 7,889 | ||||||||||||||
Loans Receivables: | ||||||||||||||||||||||||
Ending balance | $ | 80,301 | $ | 196,462 | $ | 109,285 | $ | 129,452 | $ | 515,500 | ||||||||||||||
Ending balance: individually evaluated for impairment | $ | 52 | $ | 4,832 | $ | 750 | $ | 549 | $ | 6,183 | ||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 80,249 | $ | 191,630 | $ | 108,535 | $ | 128,903 | $ | 509,317 | ||||||||||||||
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 | ||||||||||||||
Bank_Premises_And_Equipment_Ta
Bank Premises And Equipment (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Bank Premises And Equipment [Abstract] | ||||||
Components Of Bank Premises And Equipment | ||||||
As of December 31, | ||||||
(dollars in thousands) | 2014 | 2013 | ||||
Land | $ | 2,775 | $ | 2,627 | ||
Bank premises | 12,955 | 11,682 | ||||
Furniture, fixtures and equipment | 10,012 | 9,500 | ||||
Leasehold improvements | 4,005 | 4,168 | ||||
Total | 29,747 | 27,977 | ||||
Less accumulated depreciation and amortization | -14,901 | -14,375 | ||||
Bank premises and equipment, net | $ | 14,846 | $ | 13,602 | ||
Future Minimum Lease Payments | ||||||
(dollars in thousands) | Amount | |||||
2015 | $ | 224 | ||||
2016 | 231 | |||||
2017 | 232 | |||||
2018 | 232 | |||||
2019 | 234 | |||||
2020 and thereafter | 3,911 | |||||
Total | $ | 5,064 | ||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Deposits [Abstract] | ||||||
Schedule Of Certificates Of Deposits By Year Of Maturity | ||||||
(dollars in thousands) | Amount | Percent | ||||
2015 | $ | 52,984 | 50.7 | % | ||
2016 | 30,806 | 29.4 | ||||
2017 | 9,124 | 8.7 | ||||
2018 | 2,996 | 2.9 | ||||
2019 | 7,313 | 7.0 | ||||
2020 and thereafter | 1,407 | 1.3 | ||||
Total | $ | 104,630 | 100.0 | % | ||
ShortTerm_Borrowings_Tables
Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Short-Term Borrowings [Abstract] | |||||||||||
Schedule Of Components Of Short-Term Debt | |||||||||||
As of December 31, | |||||||||||
(dollars in thousands) | 2014 | 2013 | |||||||||
Overnight borrowings | $ | - | $ | 2,472 | |||||||
Securities sold under repurchase agreements | 3,969 | 6,170 | |||||||||
Total | $ | 3,969 | $ | 8,642 | |||||||
Schedule Of Short-Term Debt | |||||||||||
Maximum | Weighted- | ||||||||||
outstanding | average | ||||||||||
at any | Average | rate during | Rate at | ||||||||
(dollars in thousands) | month end | outstanding | the year | year-end | |||||||
31-Dec-14 | |||||||||||
Overnight borrowings | $ | 13,694 | $ | 2,628 | 0.31 | % | 0.00 | % | |||
Repurchase agreements | 22,972 | 11,349 | 0.18 | 0.15 | |||||||
Total | $ | 36,666 | $ | 13,977 | |||||||
31-Dec-13 | |||||||||||
Overnight borrowings | $ | 10,544 | $ | 3,893 | 0.29 | % | 0.27 | % | |||
Repurchase agreements | 21,653 | 11,629 | 0.19 | 0.14 | |||||||
Total | $ | 32,197 | $ | 15,522 | |||||||
31-Dec-12 | |||||||||||
Overnight borrowings | $ | - | $ | 55 | 0.41 | % | 0.00 | % | |||
Repurchase agreements | 20,721 | 13,027 | 0.25 | 0.27 | |||||||
Total | $ | 20,721 | $ | 13,082 | |||||||
Stock_Plans_Tables
Stock Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 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, 2012 | - | 151 | 151 | |||||||||||
Granted | 8,000 | 6,000 | 14,000 | |||||||||||
Forfeited | - | -1,017 | -1,017 | |||||||||||
Issued | - | -134 | -134 | |||||||||||
Balance at December 31, 2013 | 8,000 | 5,000 | 13,000 | |||||||||||
Granted | 2,000 | 2,120 | 4,120 | |||||||||||
Vested | -4,000 | -1,250 | -5,250 | |||||||||||
Balance at December 31, 2014 | 6,000 | 5,870 | 11,870 | |||||||||||
Schedule Of Compensation Cost For Share-Based Payment Arrangements, Allocation Of Share-Based Compensation Costs By Plan | ||||||||||||||
Years ended December 31, | ||||||||||||||
(dollars in thousands) | 2014 | 2013 | ||||||||||||
Stock-based compensation expense: | ||||||||||||||
Director plan | $ | 134 | $ | 78 | ||||||||||
Omnibus plan | 40 | 24 | ||||||||||||
Total stock-based compensation expense | $ | 174 | $ | 102 | ||||||||||
Schedule Of Unrecognized Compensation Cost, Nonvested Awards | ||||||||||||||
As of | ||||||||||||||
(dollars in thousands) | 31-Dec-14 | |||||||||||||
Unrecognized stock-based compensation expense: | ||||||||||||||
Director plan | $ | 12 | ||||||||||||
Omnibus plan | 99 | |||||||||||||
Total unrecognized stock-based compensation expense | $ | 111 | ||||||||||||
Summary Of Stock Option Activity | ||||||||||||||
Weighted- | ||||||||||||||
Weighted- | average | |||||||||||||
average | remaining | |||||||||||||
exercise | contractual | |||||||||||||
Options | price | term (years) | ||||||||||||
Outstanding and exercisable, December 31, 2011 | 23,790 | $ | 29.67 | 4.9 | ||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | -4,290 | 34.09 | ||||||||||||
Outstanding and exercisable, December 31, 2012 | 19,500 | 28.69 | 5 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | - | - | ||||||||||||
Outstanding and exercisable, December 31, 2013 | 19,500 | 28.69 | 4 | |||||||||||
Granted | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Forfeited | -500 | 28.90 | ||||||||||||
Outstanding and exercisable, December 31, 2014 | 19,000 | $ | 28.69 | 3 | ||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Taxes [Abstract] | |||||||||
Schedule Of Deferred Tax Assets And Liabilities | |||||||||
As of December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Deferred tax assets: | |||||||||
Allowance for loan losses | $ | 3,119 | $ | 3,035 | |||||
Deferred interest from non-accrual assets | 415 | 455 | |||||||
Other | 321 | 247 | |||||||
Total | 3,855 | 3,737 | |||||||
Deferred tax liabilities: | |||||||||
Net unrealized gains on available-for-sale securities | -1,413 | -639 | |||||||
Loan fees and costs | -1,400 | -1,276 | |||||||
Automobile leasing | -463 | -283 | |||||||
Depreciation | -367 | -348 | |||||||
Mortgage loan servicing rights | -342 | -388 | |||||||
Other | -31 | -34 | |||||||
Total | -4,016 | -2,968 | |||||||
Deferred tax (liability) asset, net | $ | -161 | $ | 769 | |||||
Schedule Of Components Of Income Tax Expense Benefit | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Current | $ | 2,010 | $ | -3,531 | $ | 2,011 | |||
Deferred | 156 | 6,166 | -452 | ||||||
Total provision for income taxes | $ | 2,166 | $ | 2,635 | $ | 1,559 | |||
Schedule Of Effective Income Tax Rate Reconciliation | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Expected provision at the statutory rate | $ | 2,896 | $ | 3,317 | $ | 2,197 | |||
Tax-exempt income | -671 | -589 | -563 | ||||||
Bank owned life insurance | -115 | -114 | -111 | ||||||
Low income housing credits | - | -10 | -10 | ||||||
Nondeductible interest expense | 16 | 14 | 16 | ||||||
Nondeductible other expenses and other, net | 40 | 17 | 30 | ||||||
Actual provision for income taxes | $ | 2,166 | $ | 2,635 | $ | 1,559 | |||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Fair Value Measurements [Abstract] | |||||||||||||||
Carrying Amount And Estimated Fair Value By Balance Sheet Grouping | |||||||||||||||
31-Dec-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 | $ | 25,851 | $ | 25,851 | $ | 25,851 | $ | - | $ | - | |||||
Available-for-sale securities | 97,896 | 97,896 | 595 | 97,301 | - | ||||||||||
FHLB stock | 1,306 | 1,306 | - | 1,306 | - | ||||||||||
Loans and leases, net | 506,327 | 505,387 | - | - | 505,387 | ||||||||||
Loans held-for-sale | 1,161 | 1,186 | - | 1,186 | - | ||||||||||
Financial liabilities: | |||||||||||||||
Deposit liabilities | 586,944 | 586,756 | - | 586,756 | - | ||||||||||
Short-term borrowings | 3,969 | 3,969 | - | 3,969 | - | ||||||||||
Long-term debt | 10,000 | 10,758 | - | 10,758 | - | ||||||||||
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 | |||||||||||||||
Quoted prices | |||||||||||||||
in active | Significant other | Significant other | |||||||||||||
Total carrying value | markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | 31-Dec-14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Available-for-sale securities: | |||||||||||||||
Agency - GSE | $ | 14,398 | $ | - | $ | 14,398 | $ | - | |||||||
Obligations of states and political subdivisions | 37,033 | - | 37,033 | - | |||||||||||
MBS - GSE residential | 45,870 | - | 45,870 | - | |||||||||||
Equity securities - financial services | 595 | 595 | - | - | |||||||||||
Total available-for-sale securities | $ | 97,896 | $ | 595 | $ | 97,301 | $ | - | |||||||
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 year ended December 31, 2013 | |||||||||||||||
Balance at beginning of period | $ | 1,825 | |||||||||||||
Realized gains in earnings | 2,873 | ||||||||||||||
Unrealized gains (losses) in OCI: | |||||||||||||||
Gains | 4,958 | ||||||||||||||
Losses | -460 | ||||||||||||||
Pay down / settlement | -9,205 | ||||||||||||||
Interest paid-in-kind | 6 | ||||||||||||||
Accretion | 3 | ||||||||||||||
Balance at end of period | $ | - | |||||||||||||
Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels | |||||||||||||||
Quoted prices in | Significant other | Significant other | |||||||||||||
Total carrying value | active markets | observable inputs | unobservable inputs | ||||||||||||
(dollars in thousands) | at December 31, 2014 | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Impaired loans | $ | 2,158 | $ | - | $ | - | $ | 2,158 | |||||||
Other real estate owned | 1,506 | - | - | 1,506 | |||||||||||
Total | $ | 3,664 | $ | - | $ | - | $ | 3,664 | |||||||
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 | |||||||
Schedule Of Fair Value, Off-Balance Sheet Risks | |||||||||||||||
December 31, | |||||||||||||||
(dollars in thousands) | 2014 | 2013 | |||||||||||||
Off-balance sheet financial instruments: | |||||||||||||||
Commitments to extend credit | $ | 92,146 | $ | 89,751 | |||||||||||
Standby letters of credit | 6,872 | 7,718 | |||||||||||||
Supply Commitment | |||||||||||||||
More than | |||||||||||||||
Less than | one year to | Over five | |||||||||||||
(dollars in thousands) | one year | five years | years | Total | |||||||||||
Secured by: | |||||||||||||||
Collateral | $ | 5,300 | $ | - | $ | 515 | $ | 5,815 | |||||||
Bank lines of credit | 800 | 34 | - | 834 | |||||||||||
6,100 | 34 | 515 | 6,649 | ||||||||||||
Unsecured | 166 | 57 | - | 223 | |||||||||||
Total | $ | 6,266 | $ | 91 | $ | 515 | $ | 6,872 | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule Of Earnings Per Share, Basic And Diluted | |||||||||
2014 | 2013 | 2012 | |||||||
(dollars in thousands except per share data) | |||||||||
Basic EPS: | |||||||||
Net income available to common shareholders | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Weighted-average common shares outstanding | 2,412,962 | 2,353,056 | 2,286,233 | ||||||
Basic EPS | $ | 2.63 | $ | 3.03 | $ | 2.14 | |||
Diluted EPS: | |||||||||
Net income available to common shareholders | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Weighted-average common shares outstanding | 2,412,962 | 2,353,056 | 2,286,233 | ||||||
Potentially dilutive common shares | 5,540 | 4,674 | 151 | ||||||
Weighted-average common and potentially dilutive shares outstanding | 2,418,502 | 2,357,730 | 2,286,384 | ||||||
Diluted EPS | $ | 2.62 | $ | 3.02 | $ | 2.14 | |||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Regulatory matters [Abstract] | |||||||||||||||
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations | |||||||||||||||
To be well capitalized | |||||||||||||||
For capital | under prompt corrective | ||||||||||||||
Actual | adequacy purposes | action provisions | |||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||
As of December 31, 2014: | |||||||||||||||
Total capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 75,756 | 15.3% | ≥ | $ | 39,730 | ≥ | 8.0% | N/A | N/A | |||||
Bank | $ | 75,230 | 15.2% | ≥ | $ | 39,728 | ≥ | 8.0% | ≥ | $ | 49,660 | ≥ | 10.0% | ||
Tier I capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 69,376 | 14.0% | ≥ | $ | 19,865 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 68,985 | 13.9% | ≥ | $ | 19,864 | ≥ | 4.0% | ≥ | $ | 29,796 | ≥ | 6.0% | ||
Tier I capital (to average assets) | |||||||||||||||
Consolidated | $ | 69,376 | 10.0% | ≥ | $ | 27,679 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 68,985 | 10.0% | ≥ | $ | 27,658 | ≥ | 4.0% | ≥ | $ | 34,573 | ≥ | 5.0% | ||
As of December 31, 2013: | |||||||||||||||
Total capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 70,669 | 15.2% | ≥ | $ | 37,255 | ≥ | 8.0% | N/A | N/A | |||||
Bank | $ | 70,373 | 15.1% | ≥ | $ | 37,251 | ≥ | 8.0% | ≥ | $ | 46,563 | ≥ | 10.0% | ||
Tier I capital (to risk-weighted assets) | |||||||||||||||
Consolidated | $ | 64,706 | 13.9% | ≥ | $ | 18,628 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 64,512 | 13.9% | ≥ | $ | 18,625 | ≥ | 4.0% | ≥ | $ | 27,938 | ≥ | 6.0% | ||
Tier I capital (to average assets) | |||||||||||||||
Consolidated | $ | 64,706 | 10.3% | ≥ | $ | 25,089 | ≥ | 4.0% | N/A | N/A | |||||
Bank | $ | 64,512 | 10.3% | ≥ | $ | 25,073 | ≥ | 4.0% | ≥ | $ | 31,341 | ≥ | 5.0% | ||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Related Party Transactions [Abstract] | |||||||||
Schedule Of Related Party Transactions | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Balance, beginning | $ | 2,821 | $ | 3,033 | $ | 2,241 | |||
Additions | 1,782 | 1,470 | 2,369 | ||||||
Collections | -1,826 | -1,682 | -1,577 | ||||||
Balance, ending | $ | 2,777 | $ | 2,821 | $ | 3,033 | |||
Aggregate loans to directors and associates exceeding 2.5% of shareholders’ equity included in the table above are as follows: | |||||||||
Years ended December 31, | |||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Number of persons | 1 | 1 | 1 | ||||||
Balance, beginning | $ | 1,883 | $ | 2,105 | $ | 1,910 | |||
Additions | 1,184 | 816 | 1,251 | ||||||
Collections | -1,423 | -1,038 | -1,056 | ||||||
Balance, ending | $ | 1,644 | $ | 1,883 | $ | 2,105 | |||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Quarterly Financial Information (Unaudited) [Abstract] | |||||||||||||||
Schedule Of Quarterly Financial Information | |||||||||||||||
2014 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 6,002 | $ | 6,145 | $ | 6,295 | $ | 6,402 | $ | 24,844 | |||||
Interest expense | -707 | -721 | -730 | -759 | -2,917 | ||||||||||
Net interest income | 5,295 | 5,424 | 5,565 | 5,643 | 21,927 | ||||||||||
Provision for loan losses | -300 | -300 | -210 | -250 | -1,060 | ||||||||||
Gain on sale of investment securities | 207 | 94 | - | 298 | 599 | ||||||||||
Other income | 1,531 | 1,727 | 1,748 | 1,749 | 6,755 | ||||||||||
Other expenses | -4,785 | -4,761 | -4,910 | -5,247 | -19,703 | ||||||||||
Income before taxes | 1,948 | 2,184 | 2,193 | 2,193 | 8,518 | ||||||||||
Provision for income taxes | -492 | -557 | -562 | -555 | -2,166 | ||||||||||
Net income | $ | 1,456 | $ | 1,627 | $ | 1,631 | $ | 1,638 | $ | 6,352 | |||||
Net income per share - basic | $ | 0.61 | $ | 0.67 | $ | 0.68 | $ | 0.67 | $ | 2.63 | |||||
Net income per share - diluted | $ | 0.61 | $ | 0.67 | $ | 0.67 | $ | 0.67 | $ | 2.62 | |||||
2013 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 5,968 | $ | 5,912 | $ | 5,954 | $ | 6,019 | $ | 23,853 | |||||
Interest expense | -735 | -732 | -748 | -753 | -2,968 | ||||||||||
Net interest income | 5,233 | 5,180 | 5,206 | 5,266 | 20,885 | ||||||||||
Provision for loan losses | -550 | -600 | -450 | -950 | -2,550 | ||||||||||
Gain on sale and recovery of investment securities | 119 | 9 | 138 | 2,902 | 3,168 | ||||||||||
Other income | 1,949 | 2,042 | 1,770 | 1,612 | 7,373 | ||||||||||
Other expenses | -4,880 | -4,606 | -4,644 | -4,989 | -19,119 | ||||||||||
Income before taxes | 1,871 | 2,025 | 2,020 | 3,841 | 9,757 | ||||||||||
Provision for income taxes | -477 | -512 | -515 | -1,131 | -2,635 | ||||||||||
Net income | $ | 1,394 | $ | 1,513 | $ | 1,505 | $ | 2,710 | $ | 7,122 | |||||
Net income per share - basic | $ | 0.60 | $ | 0.64 | $ | 0.64 | $ | 1.15 | $ | 3.03 | |||||
Net income per share - diluted | $ | 0.60 | $ | 0.64 | $ | 0.64 | $ | 1.14 | $ | 3.02 | |||||
2012 | |||||||||||||||
First | Second | Third | Fourth | ||||||||||||
(dollars in thousands except per share data) | quarter | quarter | quarter | quarter | Total | ||||||||||
Interest income | $ | 6,052 | $ | 5,991 | $ | 5,974 | $ | 5,977 | $ | 23,994 | |||||
Interest expense | -938 | -838 | -804 | -774 | -3,354 | ||||||||||
Net interest income | 5,114 | 5,153 | 5,170 | 5,203 | 20,640 | ||||||||||
Provision for loan losses | -700 | -600 | -700 | -1,250 | -3,250 | ||||||||||
Gain on sale and recovery of investment securities | 254 | 7 | 3 | 64 | 328 | ||||||||||
Other-than-temporary impairment | -105 | -31 | - | - | -136 | ||||||||||
Other income | 1,840 | 1,927 | 1,891 | 1,802 | 7,460 | ||||||||||
Other expenses | -4,751 | -4,709 | -4,479 | -4,642 | -18,581 | ||||||||||
Income before taxes | 1,652 | 1,747 | 1,885 | 1,177 | 6,461 | ||||||||||
Provision for income taxes | -395 | -430 | -486 | -248 | -1,559 | ||||||||||
Net income | $ | 1,257 | $ | 1,317 | $ | 1,399 | $ | 929 | $ | 4,902 | |||||
Net income per share | $ | 0.56 | $ | 0.57 | $ | 0.61 | $ | 0.40 | $ | 2.14 | |||||
Parent_Company_Only_Tables
Parent Company Only (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Parent Company Only [Abstract] | |||||||||
Schedule Of Condensed Balance Sheet | |||||||||
Condensed Balance Sheets | As of December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Assets: | |||||||||
Cash | $ | 164 | $ | 2 | |||||
Investment in subsidiary | 71,631 | 65,716 | |||||||
Securities available-for-sale | 594 | 523 | |||||||
Other assets | 36 | - | |||||||
Total | $ | 72,425 | $ | 66,241 | |||||
Liabilities and shareholders' equity: | |||||||||
Liabilities | $ | 206 | $ | 181 | |||||
Capital stock and retained earnings | 69,476 | 64,821 | |||||||
Accumulated other comprehensive income | 2,743 | 1,239 | |||||||
Total | $ | 72,425 | $ | 66,241 | |||||
Schedule Of Condensed Income Statement | |||||||||
Condensed Income Statements | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Income: | |||||||||
Equity in undistributed earnings of subsidiary | $ | 4,458 | $ | 6,173 | $ | 3,996 | |||
Dividends from subsidiary | 2,242 | 1,190 | 1,131 | ||||||
Other income | 22 | 20 | 20 | ||||||
Total income | 6,722 | 7,383 | 5,147 | ||||||
Operating expenses | 539 | 388 | 347 | ||||||
Income before taxes | 6,183 | 6,995 | 4,800 | ||||||
Credit for income taxes | 169 | 127 | 102 | ||||||
Net income | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Schedule Of Condensed Comprehensive Income | |||||||||
Statements of Comprehensive Income | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Bancorp net loss | $ | -348 | $ | -241 | $ | -225 | |||
Equity in net income of subsidiary | 6,700 | 7,363 | 5,127 | ||||||
Net income | 6,352 | 7,122 | 4,902 | ||||||
Other comprehensive income, before tax: | |||||||||
Unrealized holding gains on available-for-sale securities | 71 | 58 | 27 | ||||||
Reclassification adjustment for gains realized in income | - | - | - | ||||||
Net unrealized gains | 71 | 58 | 27 | ||||||
Tax effect | -24 | -20 | -9 | ||||||
Unrealized gain, net of tax | 47 | 38 | 18 | ||||||
Equity in other comprehensive income of subsidiary | 1,457 | 965 | 1,328 | ||||||
Other comprehensive income, net of tax | 1,504 | 1,003 | 1,346 | ||||||
Total comprehensive income, net of tax | $ | 7,856 | $ | 8,125 | $ | 6,248 | |||
Schedule Of Condensed Cash Flow Statement | |||||||||
Condensed Statements of Cash Flows | Years ended December 31, | ||||||||
(dollars in thousands) | 2014 | 2013 | 2012 | ||||||
Cash flows from operating activities: | |||||||||
Net income | $ | 6,352 | $ | 7,122 | $ | 4,902 | |||
Adjustments to reconcile net income to net cash used in operations: | |||||||||
Equity in earnings of subsidiary | -6,700 | -7,363 | -5,127 | ||||||
Stock-based compensation expense | 207 | 112 | 15 | ||||||
Changes in other assets and liabilities, net | -35 | 62 | 20 | ||||||
Net cash used in operating activities | -176 | -67 | -190 | ||||||
Cash flows provided by investing activities: | |||||||||
Dividends received from subsidiary | 2,242 | 1,190 | 1,131 | ||||||
Net cash provided by investing activities | 2,242 | 1,190 | 1,131 | ||||||
Cash flows used in financing activities: | |||||||||
Dividends paid, net of dividend reinvestment | -2,088 | -1,596 | -1,493 | ||||||
Cash contributions from dividend reinvestment plan | 104 | 395 | 486 | ||||||
Withholdings to purchase capital stock | 80 | 78 | 67 | ||||||
Net cash used in financing activities | -1,904 | -1,123 | -941 | ||||||
Net change in cash | 162 | - | - | ||||||
Cash, beginning | 2 | 2 | 2 | ||||||
Cash, ending | $ | 164 | $ | 2 | $ | 2 | |||
Nature_Of_Operations_And_Summa2
Nature Of Operations And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
ShareBasedCompensationPlan | |||
Trading securities | $0 | $0 | $0 |
Threshold period for past due loans placed on non-accrual status | 90 days | ||
Maximum loan-to-value percentage for commercial real estate loan originations | 80.00% | ||
Number of share based compensation plans | 2 | ||
Interest paid | 2,900,000 | 3,000,000 | 3,500,000 |
Income taxes paid | 1,700,000 | 1,300,000 | 2,200,000 |
Transfers from loans to foreclosed assets held-for-sale | 1,200,000 | 2,400,000 | 1,800,000 |
Transfers from loans to loans held-for-sale | 200,000 | 3,700,000 | 3,600,000 |
Transfers from loans to bank premises and equipment | $1,000,000 | $0 | $0 |
Minimum [Member] | |||
Amortization term length | 10 years | ||
Maximum [Member] | |||
Amortization term length | 30 years |
Cash_Narrative_Details
Cash (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Cash [Abstrct] | ||
Federal Reserve Bank, reserve requirement | $1,000,000 | $900,000 |
FDIC insured amount | $250,000 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $1,239 | $236 | |
Other comprehensive (loss) income before reclassifications | 1,899 | 3,094 | |
Amounts reclassified from accumulated other comprehensive income | -395 | -2,091 | |
Net current-period other comprehensive (loss) income | 1,504 | 1,003 | 1,346 |
Ending balance | 2,743 | 1,239 | 236 |
Federal statutory income tax rate | 34.00% | ||
Unrealized Gains On Available-For-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 1,239 | 1,905 | |
Other comprehensive (loss) income before reclassifications | 1,899 | -624 | |
Amounts reclassified from accumulated other comprehensive income | -395 | -42 | |
Net current-period other comprehensive (loss) income | 1,504 | -666 | |
Ending balance | 2,743 | 1,239 | |
Non-Credit-Related Imapirment Losses On Investment Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | -1,669 | ||
Other comprehensive (loss) income before reclassifications | 3,718 | ||
Amounts reclassified from accumulated other comprehensive income | -2,049 | ||
Net current-period other comprehensive (loss) income | $1,669 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Schedule Of Reclassifications From Accumulated Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||||||
Gain on sale, recovery, or disposal of investment securities | $298 | $94 | $207 | $2,902 | $138 | $9 | $119 | $64 | $3 | $7 | $254 | $599 | $3,168 | $328 | |
Provision for income taxes | -555 | -562 | -557 | -492 | -1,131 | -515 | -512 | -477 | -248 | -486 | -430 | -395 | -2,166 | -2,635 | -1,559 |
Net income | 1,638 | 1,631 | 1,627 | 1,456 | 2,710 | 1,505 | 1,513 | 1,394 | 929 | 1,399 | 1,317 | 1,257 | 6,352 | 7,122 | 4,902 |
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 | 599 | 3,168 | |||||||||||||
Provision for income taxes | -204 | -1,077 | |||||||||||||
Net income | $395 | $2,091 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (USD $) | 12 Months Ended | 60 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ||||
Other than temporary impairment losses, investments, available-for-sale securities, portion recognized in earnings, net, qualitative disclosures, methodology | The cumulative amount of credit-related OTTI recognized in earnings was $15.4 million at December 31, 2012. There was no credit-related OTTI recognized in earnings during 2013 or 2014. | |||
Credit-related OTTI recognized in earnings | $0 | $0 | $136 | $15,400 |
Agency - GSE [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities, qualitative disclosure, nature | 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 | 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. | |||
Pooled Trust Preferred Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available-for-sale securities, qualitative disclosure, nature | During the fourth quarter of 2013, the Company sold its entire position of pooled trust preferred securities. For a further discussion on the Company's former investment, fair value determination and activity of its pooled trust preferred securities portfolio, see Note 4, "Investment Securities", and Note 13, "Fair Value Measurements", within the audited consolidated financial statements, incorporated by reference to the Company's 2013 Form 10-K filed with the SEC on March 19, 2014. |
Investment_Securities_Amortize
Investment Securities (Amortized Cost And Fair Value Of Investment Securities) (Details) (USD $) | Dec. 31, 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, Fair value | 0 | 195 |
Total Available-for-sale securities, Amortized cost | 93,739 | 95,368 |
Available-for-sale securities, Gross unrealized gains | 4,211 | 2,626 |
Available-for-sale securities, Gross unrealized losses | 54 | 748 |
Total Available-for-sale securities, Fair value | 97,896 | 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 | 14,380 | 14,667 |
Available-for-sale securities, Gross unrealized gains | 29 | 8 |
Available-for-sale securities, Gross unrealized losses | 11 | 74 |
Total Available-for-sale securities, Fair value | 14,398 | 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 | 34,609 | 32,269 |
Available-for-sale securities, Gross unrealized gains | 2,444 | 912 |
Available-for-sale securities, Gross unrealized losses | 20 | 570 |
Total Available-for-sale securities, Fair value | 37,033 | 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, Fair value | 195 | |
Total Available-for-sale securities, Amortized cost | 44,455 | 48,137 |
Available-for-sale securities, Gross unrealized gains | 1,438 | 1,476 |
Available-for-sale securities, Gross unrealized losses | 23 | 104 |
Total Available-for-sale securities, Fair value | 45,870 | 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 | 93,444 | 95,073 |
Available-for-sale securities, Gross unrealized gains | 3,911 | 2,396 |
Available-for-sale securities, Gross unrealized losses | 54 | 748 |
Total Available-for-sale securities, Fair value | 97,301 | 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 | 300 | 230 |
Total Available-for-sale securities, Fair value | $595 | $525 |
Investment_Securities_Investme
Investment Securities (Investment Classified By Contractual Maturity Date) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Investment Securities [Abstract] | |
Amortized cost: Due in one year or less | $1,004 |
Amortized cost: Due after one year through five years | 12,301 |
Amortized cost: Due after five years through ten years | 3,809 |
Amortized cost: Due after ten years | 31,875 |
Total debt securities, Amortized Cost | 48,989 |
MBS - GSE residental, Amortized cost | 44,455 |
Total available-for-sale securities, Amortized cost | 93,444 |
Fair value: Due in one year or less | 1,000 |
Fair value: Due after one year through five years | 12,318 |
Fair value: Due after five years through ten years | 3,971 |
Fair value: Due after ten years | 34,142 |
Total debt securities, Fair value | 51,431 |
MBS - GSE residental, Fair value | 45,870 |
Total available-for-sale securities, Fair value | $97,301 |
Investment_Securities_Schedule
Investment Securities (Schedule Of Realized Gain (Loss)) (Details) (Pooled Trust Preferred Securities [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pooled Trust Preferred Securities [Member] | |||
Schedule of Investments [Line Items] | |||
Gross realized gain | $603 | $4,314 | $251 |
Gross realized loss | -4 | -1,335 | |
Recovery of previously charged-off PreTSLs | 189 | 77 | |
Net gain | $599 | $3,168 | $328 |
Investment_Securities_Availabl
Investment Securities (Available-For-Sale Securities, Continuous Unrealized Loss Position, Fair Value) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | security | security |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Number of securities | 9 | 38 |
More than 12 months: Number of securities | 3 | 2 |
Total: Number of securities | 12 | 40 |
Agency - GSE [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | 4,100 | 11,592 |
Less than 12 months: Unrealized losses | 11 | 74 |
More than 12 months: Fair value | 1,024 | |
Total: Fair value | 5,124 | 11,592 |
Total: Unrealized losses | 11 | 74 |
Obligations Of States And Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | 1,767 | 10,148 |
Less than 12 months: Unrealized losses | 11 | 570 |
More than 12 months: Fair value | 670 | |
More than 12 months: Unrealized losses | 9 | |
Total: Fair value | 2,437 | 10,148 |
Total: Unrealized losses | 20 | 570 |
MBS - GSE Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | 3,761 | 11,703 |
Less than 12 months: Unrealized losses | 23 | 83 |
More than 12 months: Fair value | 3,052 | |
More than 12 months: Unrealized losses | 21 | |
Total: Fair value | 3,761 | 14,755 |
Total: Unrealized losses | 23 | 104 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair value | 9,628 | 33,443 |
Less than 12 months: Unrealized losses | 45 | 727 |
More than 12 months: Fair value | 1,694 | 3,052 |
More than 12 months: Unrealized losses | 9 | 21 |
Total: Fair value | 11,322 | 36,495 |
Total: Unrealized losses | 54 | 748 |
Investment_Securities_Other_Th
Investment Securities (Other Than Temporary Impairment, Credit Losses Recognized In Earnings) (Details) (USD $) | 12 Months Ended | 60 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 |
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||||
Credit-related OTTI recognized in earnings | $0 | $0 | $136 | $15,400 |
Pre TSL IX, B1, B3 [Member] | ||||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||||
Credit-related OTTI recognized in earnings | 18 | |||
Pre TSL XVIII, C [Member] | ||||
Schedule of Held-to-maturity Securities And Available-for-sale Securities [Line Items] | ||||
Credit-related OTTI recognized in earnings | $118 |
Loans_And_Leases_Narrative_Det
Loans And Leases (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
loan | loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred loan costs | $1,400,000 | $1,100,000 |
Number of contracts modified | 0 | 0 |
Non-accrual balance | 4,215,000 | 5,668,000 |
Mortgages serviced | 256,800,000 | 250,200,000 |
Impaired Loans, Accruing | 1,060,000 | 155,000 |
Number of unrelated borrowers | 3 | 5 |
Troubled Debt Status [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructuring balance | 1,600,000 | 2,000,000 |
Nonaccrual Status [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructuring balance | 900,000 | 1,000,000 |
Impaired Loan Status [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual balance | 4,200,000 | 5,700,000 |
Recorded investment in financing receivables that are not 90 days or more past due | 1,200,000 | |
Accruing TDR Balance [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Troubled Debt Restructuring balance | $700,000 | $1,000,000 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of contracts modified | 1 | 2 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of contracts modified | 4 | 5 |
Loans_And_Leases_Loan_Classifi
Loans And Leases (Loan Classifications) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $515,695 | $478,200 | |
Less: Allowance for loan losses | -9,173 | -8,928 | -8,972 |
Less: Unearned lease revenue | -195 | -56 | |
Loans and leases, net | 506,327 | 469,216 | |
Commercial & Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 80,301 | 74,551 | |
Less: Allowance for loan losses | -1,052 | -944 | -922 |
Commercial Real Estate: Non-Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 94,771 | 89,255 | |
Commercial Real Estate: Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 95,780 | 86,294 | |
Commercial Real Estate: Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 5,911 | 10,765 | |
Consumer: Home Equity Installment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 32,819 | 34,480 | |
Consumer: Home Equity Line Of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 42,188 | 36,836 | |
Consumer: Auto Loans And Leases [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 27,972 | 22,261 | |
Consumer: Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 6,501 | 5,205 | |
Residential: Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 119,154 | 110,365 | |
Residential: Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $10,298 | $8,188 |
Loans_And_Leases_NonAccrual_Lo
Loans And Leases (Non-Accrual Loans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $4,215 | $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 | 620 | 1,518 |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 2,013 | 1,422 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 256 | 635 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 312 | 393 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 417 | 254 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 1 | 12 |
Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 20 | 22 |
Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $549 | $1,350 |
Loans_And_Leases_Past_Due_Loan
Loans And Leases (Past Due Loans) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | $2,490 | $2,913 | ||
60 - 89 Days past due | 1,442 | 2,355 | ||
Past due 90 days or more | 5,275 | [1] | 5,823 | [2] |
Total past due | 9,207 | 11,091 | ||
Current | 506,293 | 467,053 | ||
Total loans | 515,500 | 478,144 | ||
Recorded investment past due > days and accruing | 1,060 | 155 | ||
Non-accrual loans | 4,215 | 5,668 | ||
Unearned revenue | 195 | 56 | ||
Commercial & Industrial [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 34 | 111 | ||
60 - 89 Days past due | 76 | 212 | ||
Past due 90 days or more | 55 | [1] | 69 | [2] |
Total past due | 165 | 392 | ||
Current | 80,136 | 74,159 | ||
Total loans | 80,301 | 74,551 | ||
Recorded investment past due > days and accruing | 28 | 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 | 624 | 484 | ||
60 - 89 Days past due | 126 | 35 | ||
Past due 90 days or more | 719 | [1] | 1,518 | [2] |
Total past due | 1,469 | 2,037 | ||
Current | 93,302 | 87,218 | ||
Total loans | 94,771 | 89,255 | ||
Recorded investment past due > days and accruing | 99 | |||
Non-accrual loans | 620 | 1,518 | ||
Commercial Real Estate: Owner Occupied [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 366 | 1,714 | ||
60 - 89 Days past due | 292 | 545 | ||
Past due 90 days or more | 2,113 | [1] | 1,422 | [2] |
Total past due | 2,771 | 3,681 | ||
Current | 93,009 | 82,613 | ||
Total loans | 95,780 | 86,294 | ||
Recorded investment past due > days and accruing | 100 | |||
Non-accrual loans | 2,013 | 1,422 | ||
Commercial Real Estate: Construction [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Past due 90 days or more | 256 | [1] | 635 | [2] |
Total past due | 256 | 635 | ||
Current | 5,655 | 10,130 | ||
Total loans | 5,911 | 10,765 | ||
Non-accrual loans | 256 | 635 | ||
Consumer: Home Equity Installment [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 170 | 229 | ||
60 - 89 Days past due | 142 | 72 | ||
Past due 90 days or more | 767 | [1] | 393 | [2] |
Total past due | 1,079 | 694 | ||
Current | 31,740 | 33,786 | ||
Total loans | 32,819 | 34,480 | ||
Recorded investment past due > days and accruing | 455 | |||
Non-accrual loans | 312 | 393 | ||
Consumer: Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 13 | |||
60 - 89 Days past due | 114 | |||
Past due 90 days or more | 417 | [1] | 275 | [2] |
Total past due | 430 | 389 | ||
Current | 41,758 | 36,447 | ||
Total loans | 42,188 | 36,836 | ||
Recorded investment past due > days and accruing | 21 | |||
Non-accrual loans | 417 | 254 | ||
Consumer: Auto Loans And Leases [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 545 | 165 | ||
60 - 89 Days past due | 111 | 14 | ||
Past due 90 days or more | 16 | [1] | 23 | [2] |
Total past due | 672 | 202 | ||
Current | 27,105 | 22,003 | ||
Total loans | 27,777 | [3] | 22,205 | [4] |
Recorded investment past due > days and accruing | 15 | 11 | ||
Non-accrual loans | 1 | 12 | ||
Consumer: Other [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 38 | 52 | ||
60 - 89 Days past due | 147 | 23 | ||
Past due 90 days or more | 40 | [1] | 22 | [2] |
Total past due | 225 | 97 | ||
Current | 6,276 | 5,108 | ||
Total loans | 6,501 | 5,205 | ||
Recorded investment past due > days and accruing | 20 | |||
Non-accrual loans | 20 | 22 | ||
Residential: Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
30 - 59 Days past due | 700 | 158 | ||
60 - 89 Days past due | 548 | 1,340 | ||
Past due 90 days or more | 892 | [1] | 1,466 | [2] |
Total past due | 2,140 | 2,964 | ||
Current | 117,014 | 107,401 | ||
Total loans | 119,154 | 110,365 | ||
Recorded investment past due > days and accruing | 343 | 116 | ||
Non-accrual loans | 549 | 1,350 | ||
Residential: Construction [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Current | 10,298 | 8,188 | ||
Total loans | 10,298 | 8,188 | ||
Impaired Loan Status [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-accrual loans | 4,200 | 5,700 | ||
Unearned revenue | $200 | $56 | ||
[1] | Includes $4.2 million of non-accrual loans. | |||
[2] | Includes $5.7 million of non-accrual loans. | |||
[3] | Net of unearned revenue of $0.2 million. | |||
[4] | Net of unearned revenue of $56 thousand. |
Loans_And_Leases_Impaired_Loan
Loans And Leases (Impaired Loans) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | $7,126,000 | $7,826,000 |
Recorded investment with allowance | 2,828,000 | 1,434,000 |
Recorded investment with no allowance | 3,355,000 | 5,279,000 |
Total recorded investment | 6,183,000 | 6,713,000 |
Related allowance | 670,000 | 282,000 |
Average recorded investment | 5,488,000 | 9,153,000 |
Interest income recognized | 81,000 | 179,000 |
Cash basis interest income recognized | 78,000 | |
Commercial & Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 326,000 | 134,000 |
Recorded investment with allowance | 64,000 | |
Recorded investment with no allowance | 52,000 | 33,000 |
Total recorded investment | 52,000 | 97,000 |
Related allowance | 31,000 | |
Average recorded investment | 67,000 | 80,000 |
Interest income recognized | 1,000 | 2,000 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 2,494,000 | 2,146,000 |
Recorded investment with allowance | 1,949,000 | 174,000 |
Recorded investment with no allowance | 355,000 | 1,827,000 |
Total recorded investment | 2,304,000 | 2,001,000 |
Related allowance | 547,000 | 27,000 |
Average recorded investment | 1,557,000 | 2,173,000 |
Interest income recognized | 27,000 | 31,000 |
Cash basis interest income recognized | 78,000 | |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 2,375,000 | 2,136,000 |
Recorded investment with allowance | 447,000 | 622,000 |
Recorded investment with no allowance | 1,825,000 | 1,327,000 |
Total recorded investment | 2,272,000 | 1,949,000 |
Related allowance | 87,000 | 90,000 |
Average recorded investment | 1,996,000 | 3,203,000 |
Interest income recognized | 15,000 | 36,000 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 350,000 | 1,024,000 |
Recorded investment with no allowance | 256,000 | 635,000 |
Total recorded investment | 256,000 | 635,000 |
Average recorded investment | 342,000 | 903,000 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 466,000 | 501,000 |
Recorded investment with allowance | 125,000 | |
Recorded investment with no allowance | 312,000 | 268,000 |
Total recorded investment | 312,000 | 393,000 |
Related allowance | 23,000 | |
Average recorded investment | 358,000 | 723,000 |
Interest income recognized | 11,000 | 37,000 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 469,000 | 340,000 |
Recorded investment with allowance | 128,000 | |
Recorded investment with no allowance | 289,000 | 254,000 |
Total recorded investment | 417,000 | 254,000 |
Related allowance | 1,000 | |
Average recorded investment | 382,000 | 355,000 |
Interest income recognized | 20,000 | 2,000 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 1,000 | 12,000 |
Recorded investment with allowance | 12,000 | |
Recorded investment with no allowance | 1,000 | |
Total recorded investment | 1,000 | 12,000 |
Related allowance | 1,000 | |
Average recorded investment | 2,000 | 5,000 |
Consumer: Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 33,000 | 22,000 |
Recorded investment with no allowance | 20,000 | 22,000 |
Total recorded investment | 20,000 | 22,000 |
Average recorded investment | 22,000 | 29,000 |
Residential: Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | 612,000 | 1,511,000 |
Recorded investment with allowance | 304,000 | 437,000 |
Recorded investment with no allowance | 245,000 | 913,000 |
Total recorded investment | 549,000 | 1,350,000 |
Related allowance | 35,000 | 110,000 |
Average recorded investment | 762,000 | 1,682,000 |
Interest income recognized | 7,000 | 71,000 |
Residential: Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid principal balance | ||
Recorded investment with allowance | ||
Recorded investment with no allowance | ||
Total recorded investment | ||
Related allowance | ||
Average recorded investment | ||
Interest income recognized | ||
Cash basis interest income recognized | ||
Accruing TDR Balance [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Troubled Debt Restructuring balance | $700,000 | $1,000,000 |
Loans_And_Leases_Credit_Qualit
Loans And Leases (Credit Quality Indicator Loan Categories) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $80,301 | $74,551 |
Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 94,771 | 89,255 |
Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 95,780 | 86,294 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 5,911 | 10,765 |
Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 32,819 | 34,480 |
Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 42,188 | 36,836 |
Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 27,777 | 22,205 |
Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6,501 | 5,205 |
Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 119,154 | 110,365 |
Residential: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 10,298 | 8,188 |
Pass [Member] | Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 76,902 | 71,122 |
Pass [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 83,387 | 78,069 |
Pass [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 88,256 | 82,975 |
Pass [Member] | Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 5,073 | 9,026 |
Special mention [Member] | Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 2,202 | 2,244 |
Special mention [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 3,611 | 2,734 |
Special mention [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 2,933 | 656 |
Special mention [Member] | Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 502 | 1,037 |
Substandard [Member] | Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 1,197 | 1,185 |
Substandard [Member] | Commercial Real Estate: Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 7,773 | 8,452 |
Substandard [Member] | Commercial Real Estate: Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 4,591 | 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 | 32,052 | 34,087 |
Performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 41,771 | 36,561 |
Performing [Member] | Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 27,761 | 22,182 |
Performing [Member] | Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 6,461 | 5,183 |
Performing [Member] | Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 118,262 | 108,899 |
Performing [Member] | Residential: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 10,298 | 8,188 |
Non-performing [Member] | Consumer: Home Equity Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 767 | 393 |
Non-performing [Member] | Consumer: Home Equity Line Of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 417 | 275 |
Non-performing [Member] | Consumer: Auto Loans And Leases [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 16 | 23 |
Non-performing [Member] | Consumer: Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | 40 | 22 |
Non-performing [Member] | Residential: Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, net | $892 | $1,466 |
Loans_And_Leases_Allowance_For
Loans And Leases (Allowance For Loan Losses) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | $8,928 | $8,972 | $8,928 | $8,972 | |||||||||||
Charge-offs | 1,002 | 2,765 | |||||||||||||
Recoveries | 187 | 171 | |||||||||||||
Provisions | 250 | 210 | 300 | 300 | 950 | 450 | 600 | 550 | 1,250 | 700 | 600 | 700 | 1,060 | 2,550 | 3,250 |
Allowance for Loan Losses: Ending balance | 9,173 | 8,928 | 8,972 | 9,173 | 8,928 | 8,972 | |||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 670 | 282 | 670 | 282 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 7,889 | 8,010 | 7,889 | 8,010 | |||||||||||
Loan Receivables: Ending balance | 515,500 | 478,144 | 515,500 | 478,144 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 6,183 | 6,713 | 6,183 | 6,713 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 509,317 | 471,431 | 509,317 | 471,431 | |||||||||||
Commercial & Industrial [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 944 | 922 | 944 | 922 | |||||||||||
Charge-offs | 309 | 56 | |||||||||||||
Recoveries | 32 | 30 | |||||||||||||
Provisions | 385 | 48 | |||||||||||||
Allowance for Loan Losses: Ending balance | 1,052 | 944 | 1,052 | 944 | |||||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 31 | 31 | |||||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,052 | 913 | 1,052 | 913 | |||||||||||
Loan Receivables: Ending balance | 80,301 | 74,551 | 80,301 | 74,551 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 52 | 97 | 52 | 97 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 80,249 | 74,454 | 80,249 | 74,454 | |||||||||||
Commercial Real Estate [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 4,253 | 4,908 | 4,253 | 4,908 | |||||||||||
Charge-offs | 239 | 2,091 | |||||||||||||
Recoveries | 91 | 30 | |||||||||||||
Provisions | 567 | 1,406 | |||||||||||||
Allowance for Loan Losses: Ending balance | 4,672 | 4,253 | 4,672 | 4,253 | |||||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 634 | 117 | 634 | 117 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 4,038 | 4,136 | 4,038 | 4,136 | |||||||||||
Loan Receivables: Ending balance | 196,462 | 186,314 | 196,462 | 186,314 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 4,832 | 4,585 | 4,832 | 4,585 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 191,630 | 181,729 | 191,630 | 181,729 | |||||||||||
Consumer [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 1,482 | 1,639 | 1,482 | 1,639 | |||||||||||
Charge-offs | 361 | 400 | |||||||||||||
Recoveries | 30 | 110 | |||||||||||||
Provisions | 368 | 133 | |||||||||||||
Allowance for Loan Losses: Ending balance | 1,519 | 1,482 | 1,519 | 1,482 | |||||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 1 | 24 | 1 | 24 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,518 | 1,458 | 1,518 | 1,458 | |||||||||||
Loan Receivables: Ending balance | 109,285 | 98,726 | 109,285 | 98,726 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 750 | 681 | 750 | 681 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 108,535 | 98,045 | 108,535 | 98,045 | |||||||||||
Residential Real Estate [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 1,613 | 1,503 | 1,613 | 1,503 | |||||||||||
Charge-offs | 93 | 218 | |||||||||||||
Recoveries | 34 | 1 | |||||||||||||
Provisions | -238 | 327 | |||||||||||||
Allowance for Loan Losses: Ending balance | 1,316 | 1,613 | 1,316 | 1,613 | |||||||||||
Allowance for Loan Losses: Ending balance: individually evaluated for impairment | 35 | 110 | 35 | 110 | |||||||||||
Allowance for Loan Losses: Ending balance: collectively evaluated for impairment | 1,281 | 1,503 | 1,281 | 1,503 | |||||||||||
Loan Receivables: Ending balance | 129,452 | 118,553 | 129,452 | 118,553 | |||||||||||
Loans Receivable: Ending balance: individually evaluated for impairment | 549 | 1,350 | 549 | 1,350 | |||||||||||
Loans Receivable: Ending balance: collectively evaluated for impairment | 128,903 | 117,203 | 128,903 | 117,203 | |||||||||||
Unallocated [Member] | |||||||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||||||||||
Allowance for Loan Losses: Beginning balance | 636 | 636 | |||||||||||||
Provisions | -22 | 636 | |||||||||||||
Allowance for Loan Losses: Ending balance | $614 | $636 | $614 | $636 |
Bank_Premises_And_Equipment_Na
Bank Premises And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2009 |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $1.20 | $1.20 | $1.30 | |
Rental expense | 0.2 | 0.3 | 0.3 | |
Construction and relocation of a branch office | Company will relocate its West Pittston branch to a new building currently under construction in Pittston. | |||
Estimated cost for design construction and equipment | 1.8 | |||
Loan transferred from loans to foreclosed assets held-for-sale to bank premises, value | $1 | |||
Loan transferred from loans to foreclosed assets held-for-sale to bank premises, tenant lease agreement, expiration date | 2018 | |||
Wyoming Avenue Branch Location [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Year branch closed | 31-Dec-09 | |||
Operating lease agreement, expiration date | 2014 |
Bank_Premises_And_Equipment_Pr
Bank Premises And Equipment (Property, Plant and Equipment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Total | $29,747 | $27,977 |
Less accumulated depreciation and amortization | -14,901 | -14,375 |
Bank premises and equipment, net | 14,846 | 13,602 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 2,775 | 2,627 |
Bank premises [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 12,955 | 11,682 |
Furniture, fixtures and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | 10,012 | 9,500 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total | $4,005 | $4,168 |
Bank_Premises_And_Equipment_Sc
Bank Premises And Equipment (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Bank Premises And Equipment [Abstract] | |
2015 | $224 |
2016 | 231 |
2017 | 232 |
2018 | 232 |
2019 | 234 |
2020 and thereafter | 3,911 |
Total | $5,064 |
Deposits_Narrative_Details
Deposits (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Deposit Liabilities [Line Items] | ||
CDARS Deposits | $7.70 | |
Time Deposits 100,000 Or More | 43 | 41.2 |
Time Deposits 250,000 Or More | 19.1 | 15.7 |
Securities Available To Be Pledged As Collateral [Member] | ||
Deposit Liabilities [Line Items] | ||
Available-for-sale Securities Pledged as Collateral | 97.3 | |
Pledged Letters of Credit | 0.3 | |
Qualifying Collateral | 36.3 | |
Securities Pledged as Collateral [Member] | ||
Deposit Liabilities [Line Items] | ||
Qualifying collateral to secure deposits | $61 |
Deposits_Schedule_Of_Certifica
Deposits (Schedule Of Certificates Of Deposits By Year Of Maturity) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Deposits [Abstract] | |
2015, Amount | $52,984 |
2016, Amount | 30,806 |
2017, Amount | 9,124 |
2018, Amount | 2,996 |
2019, Amount | 7,313 |
2020 and thereafter, Amount | 1,407 |
Total, Amount | $104,630 |
2015, Percent | 50.70% |
2016, Percent | 29.40% |
2017, Percent | 8.70% |
2018, Percent | 2.90% |
2019, Percent | 7.00% |
2020 and thereafter, Percent | 1.30% |
Total, Percent | 100.00% |
ShortTerm_Borrowings_Narrative
Short-Term Borrowings (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Short-term Debt [Line Items] | ||
Pledged Securities sold under Agreement to repurchase | $19 | $20.20 |
FHLB Advance [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 181.5 | |
Correspondent Banks [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 21 | |
Federal Reserve Bank Discount Window [Member] | ||
Short-term Debt [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | $29.90 |
ShortTerm_Borrowings_Component
Short-Term Borrowings (Components Of Short-Term Debt) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Total Short-term Borrowings | $3,969 | $8,642 |
Overnight borrowings [Member] | ||
Total Short-term Borrowings | 2,472 | |
Repurchase agreements [Member] | ||
Total Short-term Borrowings | $3,969 | $6,170 |
ShortTerm_Borrowings_Schedule_
Short-Term Borrowings (Schedule Of Short-Term Debt) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | $36,666 | $32,197 | $20,721 |
Average outstanding | 13,977 | 15,522 | 13,082 |
Overnight borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | 13,694 | 10,544 | |
Average outstanding | 2,628 | 3,893 | 55 |
Weighted-average rate during the year | 0.31% | 0.29% | 0.41% |
Rate at year-end | 0.00% | 0.27% | 0.00% |
Repurchase agreements [Member] | |||
Short-term Debt [Line Items] | |||
Maximum outstanding at any month end | 22,972 | 21,653 | 20,721 |
Average outstanding | $11,349 | $11,629 | $13,027 |
Weighted-average rate during the year | 0.18% | 0.19% | 0.25% |
Rate at year-end | 0.15% | 0.14% | 0.27% |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | |
Long-Term Debt [Abstract] | |||
Federal Home Loan Bank, Advances | $10,000,000 | $16,000,000 | |
FHLB Collateral Description | The advance is secured by blanket liens on real estate and commercial and industrial loans | ||
Collateral Amount for FHLB Advances | 191,700,000 | ||
Federal Home Loan Bank, Advance Payoff Description | Significant prepayment fees attached to the borrowing are a deterrent from paying off the high-cost advance. In the event the underlying market rates rise above the rate currently paid on the borrowing, the rate will convert to a floating-rate instrument and the Company would have the option to repay or renegotiate the converted advance. | ||
Interest Rate Of Advance | 5.26% | ||
Maturity date | 2016 | ||
Repayments of long-term debt | 6,000,000 | 5,000,000 | |
FHLB prepayment fee | $457,000 | $236,000 |
Stock_Plans_Narrative_Details
Stock Plans (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 60 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | |
ShareBasedCompensationPlan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of active share-based compensation plans | 2 | ||||
Unexercised stock options, intrinsic value | $81,900 | $450 | $0 | 450 | |
Restricted stock, intrinsic value | $33 | ||||
Allocated compensation expense | 174,000 | 102,000 | |||
Director Stock Incentive Plan - 2012 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 500,000 | ||||
Allocated compensation expense | 134,000 | 78,000 | |||
The 2012 Omnibus Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 500,000 | ||||
Allocated compensation expense | 40,000 | 24,000 | |||
Employee Stock Purchase Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 110,000 | ||||
Number of shares issued | 34,329 | ||||
Allocated compensation expense | $33,000 | $10,000 | $12,000 | ||
Dividend Reinvestment Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 500,000 | ||||
Dividend Reinvestment Plan fair value issuance, open market | 100.00% | ||||
Dividend Reinvestment Plan fair value issuance | 90.00% | ||||
Former dividend reinvestment plan purchase price discount | 10.00% | ||||
Dividend reinvestment plan, shares available for issuance | 405,888 |
Stock_Plans_Disclosure_Of_Shar
Stock Plans (Disclosure Of Share-Based Compensation Arrangements By Share-based Payment Award) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 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 years |
Vesting period, percentage per year | 50.00% | |
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 years | 4 years |
Vesting period, percentage per year | 25.00% | 25.00% |
Stock_Plans_Summary_Of_Restric
Stock Plans (Summary Of Restricted Stock Changes) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning Balance | 13,000 | 151 |
Granted | 4,120 | 14,000 |
Forfeited | -1,017 | |
Issued/Vested | -5,250 | -134 |
Ending Balance | 11,870 | 13,000 |
Director Stock Incentive Plan - 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning Balance | 8,000 | |
Granted | 2,000 | 8,000 |
Issued/Vested | -4,000 | |
Ending Balance | 6,000 | 8,000 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning Balance | 5,000 | 151 |
Granted | 2,120 | 6,000 |
Forfeited | -1,017 | |
Issued/Vested | -1,250 | -134 |
Ending Balance | 5,870 | 5,000 |
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 $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $174 | $102 |
Director Stock Incentive Plan - 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | 134 | 78 |
The 2012 Omnibus Stock Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation expense | $40 | $24 |
Stock_Plans_Schedule_Of_Unreco
Stock Plans (Schedule Of Unrecognized Compensation Cost, Nonvested Awards) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | $111 |
Director Stock Incentive Plan - 2012 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | 12 |
The 2012 Omnibus Stock Incentive Plan [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized stock-based compensation expense | $99 |
Stock_Plans_Summary_Of_Stock_O
Stock Plans (Summary Of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Beginning | 19,500 | 19,500 | 23,790 | |
Options Exercisable, Beginning | 19,500 | 19,500 | 23,790 | |
Options Forfeited | -500 | -4,290 | ||
Options Outstanding, Ending | 19,000 | 19,500 | 19,500 | 23,790 |
Options Exercisable, Ending | 19,000 | 19,500 | 19,500 | 23,790 |
Weighted-average exercise price, Outstanding, Beginning | $28.69 | $28.69 | $29.67 | |
Weighted-average exercise price - Forfeited | $28.90 | $34.09 | ||
Weighted-average exercise price, Outstanding, Ending | $28.69 | $28.69 | $29.67 | |
Weighted-average exercise price exercisable, Ending | $28.69 | |||
Weighted-average remaining contractual term (years) | 3 years | 4 years | 5 years | 4 years 10 months 24 days |
Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average exercise price, Outstanding, Ending | $34.09 | |||
Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted-average exercise price, Outstanding, Ending | $26.05 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Abstract] | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $0 | ||
Penalties And Interest | $0 | $0 | $0 |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ||
Allowance for loan losses | $3,119 | $3,035 |
Deferred interest from non-accrual assets | 415 | 455 |
Other | 321 | 247 |
Total | 3,855 | 3,737 |
Net unrealized gains on available-for-sale securities | -1,413 | -639 |
Loan fees and costs | -1,400 | -1,276 |
Automobile leasing | -463 | -283 |
Depreciation | -367 | -348 |
Mortgage loan servicing rights | -342 | -388 |
Other | -31 | -34 |
Total | -4,016 | -2,968 |
Deferred tax (liability) assets, net | ($161) | $769 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Income Tax Expense Benefit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | |||||||||||||||
Current | $2,010 | ($3,531) | $2,011 | ||||||||||||
Deferred | 156 | 6,166 | -452 | ||||||||||||
Total provision for income taxes | $555 | $562 | $557 | $492 | $1,131 | $515 | $512 | $477 | $248 | $486 | $430 | $395 | $2,166 | $2,635 | $1,559 |
Income_Taxes_Schedule_Of_Effec
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | |||||||||||||||
Expected provision at the statutory rate | $2,896 | $3,317 | $2,197 | ||||||||||||
Tax-exempt income | -671 | -589 | -563 | ||||||||||||
Bank owned life insurance | -115 | -114 | -111 | ||||||||||||
Low income housing credits | -10 | -10 | |||||||||||||
Nondeductible interest expense | 16 | 14 | 16 | ||||||||||||
Nondeductible other expenses and other, net | 40 | 17 | 30 | ||||||||||||
Actual provision for income taxes | $555 | $562 | $557 | $492 | $1,131 | $515 | $512 | $477 | $248 | $486 | $430 | $395 | $2,166 | $2,635 | $1,559 |
Retirement_Plan_Narrative_Deta
Retirement Plan (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Retirement Plan [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $0.30 | $0.30 | $0.30 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 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 |
Other Repossessed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Adjustments to Carrying Value | 0 | |
Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value inputs, comparability adjustments | -19.96% | -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 | -19.00% | -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 | -42.41% | -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 | -99.00% | -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 | -27.26% | -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 | -27.23% | -30.79% |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amount And Estimated Fair Value By Balance Sheet Grouping) (Details) (USD $) | Dec. 31, 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 | 97,896 | 97,246 |
Loans held-for-sale | 1,186 | 937 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 25,851 | 13,218 |
Held-to-maturity securities | 177 | |
Available-for-sale Securities | 97,896 | 97,246 |
FHLB stock | 1,306 | 2,640 |
Loans and leases, net | 506,327 | 469,216 |
Loans held-for-sale | 1,161 | 917 |
Deposit liabilities | 586,944 | 529,698 |
Short-term borrowings | 3,969 | 8,642 |
Long-term debt | 10,000 | 16,000 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 25,851 | 13,218 |
Held-to-maturity securities | 195 | |
Available-for-sale Securities | 97,896 | 97,246 |
FHLB stock | 1,306 | 2,640 |
Loans and leases, net | 505,387 | 467,381 |
Loans held-for-sale | 1,186 | 937 |
Deposit liabilities | 586,756 | 529,968 |
Short-term borrowings | 3,969 | 8,642 |
Long-term debt | 10,758 | 17,904 |
Quoted prices in active markets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 25,851 | 13,218 |
Available-for-sale Securities | 595 | 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 | 97,301 | 96,721 |
FHLB stock | 1,306 | 2,640 |
Loans held-for-sale | 1,186 | 937 |
Deposit liabilities | 586,756 | 529,968 |
Short-term borrowings | 3,969 | 8,642 |
Long-term debt | 10,758 | 17,904 |
Significant other unobservable inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and leases, net | $505,387 | $467,381 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | Dec. 31, 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 | $97,896 | $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 | 14,398 | 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 | 37,033 | 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 | 45,870 | 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 | 595 | 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 | 595 | 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 | 595 | 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 | 97,301 | 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 | 14,398 | 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 | 37,033 | 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 | $45,870 | $49,509 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes In Level 3 Financial Instruments) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fair Value Measurements [Abstract] | |
Balance at beginning of period | $1,825 |
Realized gains in earnings | 2,873 |
Gains | 4,958 |
Losses | -460 |
Pay down / settlement | -9,205 |
Interest paid-in-kind | 6 |
Accretion | $3 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value Measurements At Fair Value Segregated By Hierarchy Fair Value Levels) (Details) (USD $) | Dec. 31, 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 | $3,664 | $2,802 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,158 | 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 | 1,506 | 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 | 3,664 | 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 | 2,158 | 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 | 1,506 | 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 |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule Of Fair Value, Off-Balance Sheet Risks) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instruments | $92,146 | $89,751 |
Standby letters of credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet financial instruments | $6,872 | $7,718 |
Fair_Value_Measurements_Supply
Fair Value Measurements (Supply Commitment) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | $6,872 |
Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 6,266 |
More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 91 |
Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 515 |
Secured [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 6,649 |
Secured [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 6,100 |
Secured [Member] | More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 34 |
Secured [Member] | Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 515 |
Secured by Collateral [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 5,815 |
Secured by Collateral [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 5,300 |
Secured by Collateral [Member] | Over five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 515 |
Secured by Bank Lines of Credit [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 834 |
Secured by Bank Lines of Credit [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 800 |
Secured by Bank Lines of Credit [Member] | More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 34 |
Unsecured [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 223 |
Unsecured [Member] | Less than one year [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | 166 |
Unsecured [Member] | More than one year to five years [Member] | |
Supply Commitment [Line Items] | |
Outstanding financial letters of credit | $57 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
ShareBasedCompensationPlan | |||
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 | 5,540 | 4,674 | 151 |
Employee Stock Option [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Earnings Per Share, Potentially Dilutive Securities | 0 | 0 | |
Potentially dilutive common shares | 115 | ||
Restricted Stock [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Potentially dilutive common shares | 5,425 | 4,674 | 151 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | |||||||||||||||
Net income available to common shareholders | $1,638 | $1,631 | $1,627 | $1,456 | $2,710 | $1,505 | $1,513 | $1,394 | $929 | $1,399 | $1,317 | $1,257 | $6,352 | $7,122 | $4,902 |
Weighted-average common shares outstanding | 2,412,962 | 2,353,056 | 2,286,233 | ||||||||||||
Basic EPS | $0.67 | $0.68 | $0.67 | $0.61 | $1.15 | $0.64 | $0.64 | $0.60 | $2.63 | $3.03 | $2.14 | ||||
Potentially dilutive common shares | 5,540 | 4,674 | 151 | ||||||||||||
Weighted-average common and potentially dilutive shares outstanding | 2,418,502 | 2,357,730 | 2,286,384 | ||||||||||||
Diluted EPS | $0.67 | $0.67 | $0.67 | $0.61 | $1.14 | $0.64 | $0.64 | $0.60 | $2.62 | $3.02 | $2.14 |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | Dec. 31, 2014 | Jul. 31, 2013 | Dec. 31, 2019 |
In Millions, unless otherwise specified | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Excess Capital to Risk Weighted Assets | 8.00% | ||
Excess Tier One Risk Based Capital to Risk Weighted Assets | 4.00% | ||
Excess Tier One Leverage Capital to Average Assets | 4.00% | ||
Tier 1 minimum capital requirement | 4.50% | ||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $60.30 | ||
Subsequent Event [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 minimum capital requirement | 8.50% | ||
Minimum total capital requirement with a capital conservation | 10.50% |
Regulatory_Matters_Schedule_Of
Regulatory Matters (Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations) (Details) (USD $) | Jul. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.50% | ||
Parent Company [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk-weighted assets), Actual, Amount | $75,756 | $70,669 | |
Total capital (to risk-weighted assets), For Capital adequacy purposes, Amount | 39,730 | 37,255 | |
Total capital (to risk-weighted assets), Actual, Ratio | 15.30% | 15.20% | |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% | |
Tier 1 capital (to risk-weighted assets), Actual, Amount | 69,376 | 64,706 | |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | 19,865 | 18,628 | |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 14.00% | 13.90% | |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% | |
Tier 1 capital (to average assets), Actual, Amount | 69,376 | 64,706 | |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | 27,679 | 25,089 | |
Tier 1 capital (to average assets), Actual, Ratio | 10.00% | 10.30% | |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% | |
Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total capital (to risk-weighted assets), Actual, Amount | 75,230 | 70,373 | |
Total capital (to risk-weighted assets), For Capital adequacy purposes, Amount | 39,728 | 37,251 | |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | 49,660 | 46,563 | |
Total capital (to risk-weighted assets), Actual, Ratio | 15.20% | 15.10% | |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% | |
Total capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 10.00% | 10.00% | |
Tier 1 capital (to risk-weighted assets), Actual, Amount | 68,985 | 64,512 | |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Amount | 19,864 | 18,625 | |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Amount | 29,796 | 27,938 | |
Tier 1 capital (to risk-weighted assets), Actual, Ratio | 13.90% | 13.90% | |
Tier 1 capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% | |
Tier 1 capital (to risk-weighted assets), To be well capitalized under prompt corrective action provisions, Ratio | 6.00% | 6.00% | |
Tier 1 capital (to average assets), Actual, Amount | 68,985 | 64,512 | |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | 27,658 | 25,073 | |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Amount | $34,573 | $31,341 | |
Tier 1 capital (to average assets), Actual, Ratio | 10.00% | 10.30% | |
Tier 1 capital (to average assets), For capital adequacy purposes, Ratio | 4.00% | 4.00% | |
Tier 1 capital (to average assets), To be well capitalized under prompt corrective action provisions, Ratio | 5.00% | 5.00% |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Related Party Transactions [Abstract] | |||
Related Party Deposit Liabilities | $13.70 | $11.10 | $11.70 |
Related_Party_Transactions_Sch
Related Party Transactions (Schedule Of Related Party Transactions) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock owned by officers, directors, associates and such persons and shareholders who own more than %5 of shares outstanding [Member] | |||
Related Party Transaction [Line Items] | |||
Balance, beginning | $2,821 | $3,033 | $2,241 |
Additions | 1,782 | 1,470 | 2,369 |
Collections | -1,826 | -1,682 | -1,577 |
Balance, ending | 2,777 | 2,821 | 3,033 |
Exceeding 2.5% of shareholders' equity [Member] | |||
Related Party Transaction [Line Items] | |||
Number of persons | 1 | 1 | 1 |
Balance, beginning | 1,883 | 2,105 | 1,910 |
Additions | 1,184 | 816 | 1,251 |
Collections | -1,423 | -1,038 | -1,056 |
Balance, ending | $1,644 | $1,883 | $2,105 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Schedule Of Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information (Unaudited) [Abstract] | |||||||||||||||
Interest income | $6,402 | $6,295 | $6,145 | $6,002 | $6,019 | $5,954 | $5,912 | $5,968 | $5,977 | $5,974 | $5,991 | $6,052 | $24,844 | $23,853 | $23,994 |
Interest expense | -759 | -730 | -721 | -707 | -753 | -748 | -732 | -735 | -774 | -804 | -838 | -938 | -2,917 | -2,968 | -3,354 |
Net interest income | 5,643 | 5,565 | 5,424 | 5,295 | 5,266 | 5,206 | 5,180 | 5,233 | 5,203 | 5,170 | 5,153 | 5,114 | 21,927 | 20,885 | 20,640 |
Provision for loan losses | -250 | -210 | -300 | -300 | -950 | -450 | -600 | -550 | -1,250 | -700 | -600 | -700 | -1,060 | -2,550 | -3,250 |
Gain on sale and recovery of investment securities | 298 | 94 | 207 | 2,902 | 138 | 9 | 119 | 64 | 3 | 7 | 254 | 599 | 3,168 | 328 | |
Other-than-temporary impairment | 31 | 105 | 136 | ||||||||||||
Other income | 1,749 | 1,748 | 1,727 | 1,531 | 1,612 | 1,770 | 2,042 | 1,949 | 1,802 | 1,891 | 1,927 | 1,840 | 6,755 | 7,373 | 7,460 |
Other expenses | -5,247 | -4,910 | -4,761 | -4,785 | -4,989 | -4,644 | -4,606 | -4,880 | -4,642 | -4,479 | -4,709 | -4,751 | -19,703 | -19,119 | -18,581 |
Income before taxes | 2,193 | 2,193 | 2,184 | 1,948 | 3,841 | 2,020 | 2,025 | 1,871 | 1,177 | 1,885 | 1,747 | 1,652 | 8,518 | 9,757 | 6,461 |
Provision for income taxes | -555 | -562 | -557 | -492 | -1,131 | -515 | -512 | -477 | -248 | -486 | -430 | -395 | -2,166 | -2,635 | -1,559 |
Net income | $1,638 | $1,631 | $1,627 | $1,456 | $2,710 | $1,505 | $1,513 | $1,394 | $929 | $1,399 | $1,317 | $1,257 | $6,352 | $7,122 | $4,902 |
Net income per share - basic | $0.67 | $0.68 | $0.67 | $0.61 | $1.15 | $0.64 | $0.64 | $0.60 | $2.63 | $3.03 | $2.14 | ||||
Net income per share - diluted | $0.67 | $0.67 | $0.67 | $0.61 | $1.14 | $0.64 | $0.64 | $0.60 | $2.62 | $3.02 | $2.14 | ||||
Net income per share | $0.40 | $0.61 | $0.57 | $0.56 | $2.14 |
Contingencies_Narrative_Detail
Contingencies (Narrative) (Details) | Dec. 31, 2014 |
item | |
Contingencies [Abstract] | |
Loss Contingency, Pending Claims, Number | 0 |
Parent_Company_Only_Schedule_O
Parent Company Only (Schedule Of Condensed Balance Sheet) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash | $11,808 | $13,197 | |
Securities available-for-sale | 97,896 | 97,246 | |
Other assets | 14,299 | 12,253 | |
Total assets | 676,485 | 623,825 | |
Liabilities | 604,266 | 557,765 | |
Accumulated other comprehensive income | 2,743 | 1,239 | 236 |
Total liabilities and shareholders' equity | 676,485 | 623,825 | |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Cash | 164 | 2 | |
Investment in subsidiary | 71,631 | 65,716 | |
Securities available-for-sale | 594 | 523 | |
Other assets | 36 | ||
Total assets | 72,425 | 66,241 | |
Liabilities | 206 | 181 | |
Capital stock and retained earnings | 69,476 | 64,821 | |
Accumulated other comprehensive income | 2,743 | 1,239 | |
Total liabilities and shareholders' equity | $72,425 | $66,241 |
Parent_Company_Only_Schedule_O1
Parent Company Only (Schedule Of Condensed Income Statement) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Other income | $1,749 | $1,748 | $1,727 | $1,531 | $1,612 | $1,770 | $2,042 | $1,949 | $1,802 | $1,891 | $1,927 | $1,840 | $6,755 | $7,373 | $7,460 |
Total income | 7,354 | 10,541 | 7,652 | ||||||||||||
Income before taxes | 2,193 | 2,193 | 2,184 | 1,948 | 3,841 | 2,020 | 2,025 | 1,871 | 1,177 | 1,885 | 1,747 | 1,652 | 8,518 | 9,757 | 6,461 |
Credit for income taxes | -555 | -562 | -557 | -492 | -1,131 | -515 | -512 | -477 | -248 | -486 | -430 | -395 | -2,166 | -2,635 | -1,559 |
Net income | 1,638 | 1,631 | 1,627 | 1,456 | 2,710 | 1,505 | 1,513 | 1,394 | 929 | 1,399 | 1,317 | 1,257 | 6,352 | 7,122 | 4,902 |
Parent Company [Member] | |||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Equity in undistributed earnings of subsidiary | 4,458 | 6,173 | 3,996 | ||||||||||||
Dividends from subsidiary | 2,242 | 1,190 | 1,131 | ||||||||||||
Other income | 22 | 20 | 20 | ||||||||||||
Total income | 6,722 | 7,383 | 5,147 | ||||||||||||
Operating expenses | 539 | 388 | 347 | ||||||||||||
Income before taxes | 6,183 | 6,995 | 4,800 | ||||||||||||
Credit for income taxes | 169 | 127 | 102 | ||||||||||||
Net income | $6,352 | $7,122 | $4,902 |
Parent_Company_Only_Schedule_O2
Parent Company Only (Schedule Of Condensed Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Net income | $1,638 | $1,631 | $1,627 | $1,456 | $2,710 | $1,505 | $1,513 | $1,394 | $929 | $1,399 | $1,317 | $1,257 | $6,352 | $7,122 | $4,902 |
Unrealized holding gains on available-for-sale securities | 2,878 | -946 | 1,724 | ||||||||||||
Reclassification adjustment for gains realized in income | -599 | -63 | -328 | ||||||||||||
Net unrealized gains | 2,279 | -1,009 | 1,532 | ||||||||||||
Tax effect | -775 | 343 | -521 | ||||||||||||
Unrealized gain, net of tax | 1,504 | -666 | 1,011 | ||||||||||||
Other comprehensive income, net of tax | 1,504 | 1,003 | 1,346 | ||||||||||||
Total comprehensive income, net of tax | 7,856 | 8,125 | 6,248 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||
Bancorp net loss | -348 | -241 | -225 | ||||||||||||
Equity in net income of subsidiary | 6,700 | 7,363 | 5,127 | ||||||||||||
Net income | 6,352 | 7,122 | 4,902 | ||||||||||||
Unrealized holding gains on available-for-sale securities | 71 | 58 | 27 | ||||||||||||
Net unrealized gains | 71 | 58 | 27 | ||||||||||||
Tax effect | -24 | -20 | -9 | ||||||||||||
Unrealized gain, net of tax | 47 | 38 | 18 | ||||||||||||
Equity in other comprehensive income of subsidiary | 1,457 | 965 | 1,328 | ||||||||||||
Other comprehensive income, net of tax | 1,504 | 1,003 | 1,346 | ||||||||||||
Total comprehensive income, net of tax | $7,856 | $8,125 | $6,248 |
Parent_Company_Only_Schedule_O3
Parent Company Only (Schedule Of Condensed Cash Flow Statement) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $6,352 | $7,122 | $4,902 |
Stock-based compensation expense | 207 | 112 | 15 |
Net cash used in operating activities | 7,898 | 23,060 | 4,544 |
Net cash provided by investing activities | -39,933 | -46,189 | -26,329 |
Cash contributions from dividend reinvestment plan | 104 | 395 | 486 |
Withholdings to purchase capital stock | 80 | 78 | 67 |
Net cash used in financing activities | 44,668 | 14,501 | -8,534 |
Net change in cash | 12,633 | -8,628 | -30,319 |
Cash and cash equivalents, beginning | 13,218 | 21,846 | 52,165 |
Cash and cash equivalents, ending | 25,851 | 13,218 | 21,846 |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 6,352 | 7,122 | 4,902 |
Equity in earnings of subsidiary | -6,700 | -7,363 | -5,127 |
Stock-based compensation expense | 207 | 112 | 15 |
Changes in other assets and liabilities, net | -35 | 62 | 20 |
Net cash used in operating activities | -176 | -67 | -190 |
Dividends received from subsidiary | 2,242 | 1,190 | 1,131 |
Net cash provided by investing activities | 2,242 | 1,190 | 1,131 |
Dividends paid, net of dividend reinvestment | -2,088 | -1,596 | -1,493 |
Cash contributions from dividend reinvestment plan | 104 | 395 | 486 |
Withholdings to purchase capital stock | 80 | 78 | 67 |
Net cash used in financing activities | -1,904 | -1,123 | -941 |
Net change in cash | 162 | ||
Cash and cash equivalents, beginning | 2 | 2 | 2 |
Cash and cash equivalents, ending | $164 | $2 | $2 |