Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 30, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'AMES NATIONAL CORP | ' |
Entity Central Index Key | '0001132651 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 9,310,913 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
CONSOLIDATED_BALANCE_SHEETS_un
CONSOLIDATED BALANCE SHEETS (unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
ASSETS | ' | ' |
Cash and due from banks | $30,409,845 | $24,270,031 |
Interest bearing deposits in financial institutions | 40,366,808 | 23,628,117 |
Securities available-for-sale | 600,831,476 | 580,039,080 |
Loans receivable, net | 548,545,071 | 564,501,547 |
Loans held for sale | 0 | 295,618 |
Bank premises and equipment, net | 11,251,540 | 11,892,329 |
Accrued income receivable | 7,432,502 | 7,437,673 |
Other real estate owned | 8,880,467 | 8,861,107 |
Deferred income taxes | 3,049,156 | 5,027,103 |
Core deposit intangible, net | 963,816 | 1,029,564 |
Goodwill | 5,600,749 | 5,600,749 |
Other assets | 649,449 | 501,242 |
Total assets | 1,257,980,879 | 1,233,084,160 |
Deposits | ' | ' |
Demand, noninterest bearing | 173,459,774 | 179,946,472 |
NOW accounts | 299,537,933 | 299,788,852 |
Savings and money market | 316,704,817 | 289,307,102 |
Time, $100,000 and over | 95,697,308 | 97,077,717 |
Other time | 142,393,181 | 145,683,035 |
Total deposits | 1,027,793,013 | 1,011,803,178 |
Securities sold under agreements to repurchase and federal funds purchased | 39,910,174 | 39,616,644 |
Federal Home Loan Bank (FHLB) advances | 16,722,546 | 14,540,526 |
Other long-term borrowings | 20,000,000 | 20,000,000 |
Dividend payable | 1,675,964 | 1,489,746 |
Accrued expenses and other liabilities | 4,691,477 | 3,527,882 |
Total liabilities | 1,110,793,174 | 1,090,977,976 |
STOCKHOLDERS' EQUITY | ' | ' |
Common stock, $2 par value, authorized 18,000,000 shares; issued 9,432,915 shares; outstanding 9,310,913 shares as of March 31, 2014 and December 31, 2013 | 18,865,830 | 18,865,830 |
Additional paid-in capital | 22,651,222 | 22,651,222 |
Retained earnings | 105,004,625 | 102,154,498 |
Accumulated other comprehensive income - net unrealized gain on securities available-for-sale | 2,682,526 | 451,132 |
Treasury stock, at cost; 122,002 shares at March 31, 2014 and December 31, 2013 | -2,016,498 | -2,016,498 |
Total stockholders' equity | 147,187,705 | 142,106,184 |
Total liabilities and stockholders' equity | $1,257,980,879 | $1,233,084,160 |
CONSOLIDATED_BALANCE_SHEETS_un1
CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
STOCKHOLDERS' EQUITY | ' | ' |
Common stock, par value (in dollars per share) | $2 | $2 |
Common stock, authorized (in shares) | 18,000,000 | 18,000,000 |
Common stock, issued (in shares) | 9,432,915 | 9,432,915 |
Common stock, outstanding (in shares) | 9,310,913 | 9,310,913 |
Treasury stock (in shares) | 122,002 | 122,002 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Interest income: | ' | ' |
Loans, including fees | $6,409,431 | $6,158,513 |
Securities: | ' | ' |
Taxable | 1,763,603 | 1,379,962 |
Tax-exempt | 1,674,108 | 1,728,433 |
Interest bearing deposits and federal funds sold | 73,139 | 109,733 |
Total interest income | 9,920,281 | 9,376,641 |
Interest expense: | ' | ' |
Deposits | 892,010 | 995,840 |
Other borrowed funds | 294,486 | 295,911 |
Total interest expense | 1,186,496 | 1,291,751 |
Net interest income | 8,733,785 | 8,084,890 |
Provision for loan losses | 39,231 | 13,574 |
Net interest income after provision for loan losses | 8,694,554 | 8,071,316 |
Noninterest income: | ' | ' |
Trust services income | 625,524 | 487,254 |
Service fees | 357,479 | 375,825 |
Securities gains, net | 135,081 | 68,991 |
Gain on sale of loans held for sale | 98,653 | 355,543 |
Merchant and card fees | 259,389 | 340,486 |
Gain on the sale of premises and equipment | 1,256,924 | 0 |
Other noninterest income | 212,734 | 214,869 |
Total noninterest income | 2,945,784 | 1,842,968 |
Noninterest expense: | ' | ' |
Salaries and employee benefits | 3,291,452 | 3,216,082 |
Data processing | 571,350 | 572,635 |
Occupancy expenses, net | 469,220 | 405,724 |
FDIC insurance assessments | 162,344 | 160,308 |
Professional fees | 282,447 | 272,455 |
Business development | 207,861 | 191,351 |
Other real estate owned, net | 704 | -5,181 |
Core deposit intangible amortization | 65,748 | 73,773 |
Other operating expenses, net | 277,976 | 231,949 |
Total noninterest expense | 5,329,102 | 5,119,096 |
Income before income taxes | 6,311,236 | 4,795,188 |
Provision for income taxes | 1,785,145 | 1,209,254 |
Net income | $4,526,091 | $3,585,934 |
Basic and diluted earnings per share (in dollars per share) | $0.49 | $0.39 |
Dividends declared per share (in dollars per share) | $0.18 | $0.16 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) [Abstract] | ' | ' |
Net income | $4,526,091 | $3,585,934 |
Unrealized gains (losses) on securities before tax: | ' | ' |
Unrealized holding gains (losses) arising during the period | 3,676,974 | -1,613,929 |
Less: reclassification adjustment for gains realized in net income | 135,081 | 68,991 |
Other comprehensive income (loss) before tax | 3,541,893 | -1,682,920 |
Tax effect related to other comprehensive income (loss) | -1,310,499 | 622,680 |
Other comprehensive income (loss), net of tax | 2,231,394 | -1,060,240 |
Comprehensive income | $6,757,485 | $2,525,694 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income, Net of Taxes [Member] | Treasury Stock [Member] | Total |
Beginning balance at Dec. 31, 2012 | $18,865,830 | $22,651,222 | $94,159,839 | $11,075,342 | ($2,016,498) | $144,735,735 |
Net income | 0 | 0 | 3,585,934 | 0 | 0 | 3,585,934 |
Other comprehensive income (loss) | 0 | 0 | 0 | -1,060,240 | 0 | -1,060,240 |
Cash dividends declared | 0 | 0 | -1,489,747 | 0 | 0 | -1,489,747 |
Ending balance at Mar. 31, 2013 | 18,865,830 | 22,651,222 | 96,256,026 | 10,015,102 | -2,016,498 | 145,771,682 |
Beginning balance at Dec. 31, 2013 | 18,865,830 | 22,651,222 | 102,154,498 | 451,132 | -2,016,498 | 142,106,184 |
Net income | 0 | 0 | 4,526,091 | 0 | 0 | 4,526,091 |
Other comprehensive income (loss) | 0 | 0 | 0 | 2,231,394 | 0 | 2,231,394 |
Cash dividends declared | 0 | 0 | -1,675,964 | 0 | 0 | -1,675,964 |
Ending balance at Mar. 31, 2014 | $18,865,830 | $22,651,222 | $105,004,625 | $2,682,526 | ($2,016,498) | $147,187,705 |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) [Abstract] | ' | ' |
Cash dividends declared per share (in dollars per share) | $0.18 | $0.16 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $4,526,091 | $3,585,934 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 39,231 | 13,574 |
Provision for off-balance sheet commitments | 35,000 | 14,000 |
Amortization, net, securities available-for-sale | 1,099,195 | 1,649,643 |
Amortization of core deposit intangible asset | 65,748 | 73,773 |
Depreciation | 187,611 | 190,428 |
Credit for deferred income taxes | 667,448 | 29,639 |
Securities gains, net | -135,081 | -68,991 |
(Gain) on sale of premises and equipment | -1,256,924 | 0 |
(Gain) on sale of other real estate owned, net | 0 | -25,351 |
Change in assets and liabilities: | ' | ' |
Increase (decrease) in loans held for sale | 295,618 | -423,802 |
Decrease in accrued income receivable | 5,171 | 12,636 |
(Increase) in other assets | -150,386 | -62,459 |
Increase in accrued expenses and other liabilities | 1,128,595 | 1,187,690 |
Net cash provided by operating activities | 6,507,317 | 6,176,714 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Purchase of securities available-for-sale | -35,980,382 | -48,732,167 |
Proceeds from sale of securities available-for-sale | 3,478,851 | 1,701,395 |
Proceeds from maturities and calls of securities available-for-sale | 14,209,166 | 23,698,932 |
Net (increase) in interest bearing deposits in financial institutions | -16,738,691 | -31,431,850 |
Net decrease in loans | 15,939,754 | 2,398,188 |
Net proceeds from the sale of other real estate owned | 0 | 334,068 |
Net proceeds from the sale of bank premises and equipment | 1,746,444 | 0 |
Purchase of bank premises and equipment, net | -34,163 | -27,089 |
Other | -2,750 | 0 |
Net cash used in investing activities | -17,381,771 | -52,058,523 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Increase in deposits | 16,028,464 | 29,552,707 |
Increase in securities sold under agreements to repurchase and federal funds purchased | 293,530 | 7,633,505 |
Proceeds from FHLB borrowings | -17,980 | -2,017,417 |
Proceeds from short-term FHLB borrowings, net | 2,200,000 | 0 |
Dividends paid | -1,489,746 | -1,396,627 |
Net cash provided by financing activities | 17,014,268 | 33,772,168 |
Net increase (decrease) in cash and due from banks | 6,139,814 | -12,109,641 |
CASH AND DUE FROM BANKS | ' | ' |
Beginning | 24,270,031 | 34,805,371 |
Ending | 30,409,845 | 22,695,730 |
Cash payments for: | ' | ' |
Interest | 1,275,692 | 1,394,056 |
Income taxes | 48,701 | 55,440 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES | ' | ' |
Transfer of loans receivable to other real estate owned | $16,610 | $5,205 |
Significant_Accounting_Policie
Significant Accounting Policies | 3 Months Ended | |
Mar. 31, 2014 | ||
Significant Accounting Policies [Abstract] | ' | |
Significant Accounting Policies | ' | |
1 | Significant Accounting Policies | |
The consolidated financial statements for the three months ended March 31, 2014 and 2013 are unaudited. In the opinion of the management of Ames National Corporation (the "Company"), these financial statements reflect all adjustments, consisting only of normal recurring accruals, necessary to present fairly these consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results which may be expected for an entire year. Certain information and footnote disclosures normally included in complete financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted in accordance with the requirements for interim financial statements. The interim financial statements and notes thereto should be read in conjunction with the year-end audited financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 (the “Annual Report”). The consolidated financial statements include the accounts of the Company and its wholly-owned banking subsidiaries (the “Banks”). All significant intercompany balances and transactions have been eliminated in consolidation. | ||
Goodwill: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually or whenever events change and circumstances indicate that it is more likely than not that an impairment loss has occurred. Goodwill is tested for impairment using a two-step process that begins with an estimation of the fair value of a reporting unit. The second step, if necessary, measures the amount of impairment, if any. | ||
Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At March 31, 2014, Company management has performed a goodwill impairment analysis and determined goodwill was not impaired. | ||
New Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-04, Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. The update clarifies when an in substance foreclosure occurs, that is, when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. This is the point when the consumer mortgage loan should be derecognized and the real property recognized. For public companies, this update will be effective for interim and annual periods beginning after December 31, 2014 and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. |
Dividends
Dividends | 3 Months Ended | |
Mar. 31, 2014 | ||
Dividends [Abstract] | ' | |
Dividends | ' | |
2 | Dividends | |
On February 11, 2014, the Company declared a cash dividend on its common stock, payable on May 15, 2014 to stockholders of record as of May 1, 2014, equal to $0.18 per share. |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |
Mar. 31, 2014 | ||
Earnings Per Share [Abstract] | ' | |
Earnings Per Share | ' | |
3 | Earnings Per Share | |
Earnings per share amounts were calculated using the weighted average shares outstanding during the periods presented. The weighted average outstanding shares for the three months ended March 31, 2014 and 2013 were 9,310,913. The Company had no potentially dilutive securities outstanding during the periods presented. |
OffBalance_Sheet_Arrangements
Off-Balance Sheet Arrangements | 3 Months Ended | |
Mar. 31, 2014 | ||
Off Balance Sheet Arrangements [Abstract] | ' | |
Off-Balance Sheet Arrangements | ' | |
4 | Off-Balance Sheet Arrangements | |
The Company is party to financial instruments with off-balance sheet risk in the normal course of business. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. No material changes in the Company’s off-balance sheet arrangements have occurred since December 31, 2013. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||
5 | Fair Value Measurements | |||||||||||||||||
Assets and liabilities carried at fair value are required to be classified and disclosed according to the process for determining fair value. There are three levels of determining fair value. | ||||||||||||||||||
Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. | ||||||||||||||||||
Level 2: Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted process for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatility, prepayment speeds, credit risk); or inputs derived principally from or can be corroborated by observable market data by correlation or other means. | ||||||||||||||||||
Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. | ||||||||||||||||||
The following table presents the balances of assets measured at fair value on a recurring basis by level as of March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
2014 | ||||||||||||||||||
U.S. government agencies | $ | 86,396,000 | $ | - | $ | 86,396,000 | $ | - | ||||||||||
U.S. government mortgage-backed securities | 150,010,000 | - | 150,010,000 | - | ||||||||||||||
State and political subdivisions | 314,176,000 | - | 314,176,000 | - | ||||||||||||||
Corporate bonds | 46,460,000 | - | 46,460,000 | - | ||||||||||||||
Equity securities, financial industry common stock | 776,000 | 776,000 | - | - | ||||||||||||||
Equity securities, other | 3,013,000 | - | 3,013,000 | - | ||||||||||||||
$ | 600,831,000 | $ | 776,000 | $ | 600,055,000 | $ | - | |||||||||||
2013 | ||||||||||||||||||
U.S. government agencies | $ | 61,178,000 | $ | - | $ | 61,178,000 | $ | - | ||||||||||
U.S. government mortgage-backed securities | 155,142,000 | - | 155,142,000 | - | ||||||||||||||
State and political subdivisions | 315,224,000 | - | 315,224,000 | - | ||||||||||||||
Corporate bonds | 44,752,000 | - | 44,752,000 | - | ||||||||||||||
Equity securities, financial industry common stock | 841,000 | 841,000 | - | - | ||||||||||||||
Equity securities, other | 2,902,000 | - | 2,902,000 | - | ||||||||||||||
$ | 580,039,000 | $ | 841,000 | $ | 579,198,000 | $ | - | |||||||||||
Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, as well as U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets. Other securities available-for-sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. | ||||||||||||||||||
Certain assets are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level with the valuation hierarchy as of March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
2014 | ||||||||||||||||||
Loans receivable | $ | 752,000 | $ | - | $ | - | $ | 752,000 | ||||||||||
Other real estate owned | 8,880,000 | - | - | 8,880,000 | ||||||||||||||
Total | $ | 9,632,000 | $ | - | $ | - | $ | 9,632,000 | ||||||||||
2013 | ||||||||||||||||||
Loans receivable | $ | 648,000 | $ | - | $ | - | $ | 648,000 | ||||||||||
Other real estate owned | 8,861,000 | - | - | 8,861,000 | ||||||||||||||
Total | $ | 9,509,000 | $ | - | $ | - | $ | 9,509,000 | ||||||||||
Loans Receivable: Loans in the tables above consist of impaired credits held for investment. In accordance with the loan impairment guidance, impairment was measured based on the fair value of collateral less estimated selling costs for collateral dependent loans. Fair value for impaired loans is based upon appraised values of collateral adjusted for trends observed in the market. A valuation allowance was recorded for the excess of the loan’s recorded investment over the amounts determined by the collateral value method. This valuation is a component of the allowance for loan losses. The Company considers these fair value measurements as level 3. | ||||||||||||||||||
Other Real Estate Owned: Other real estate owned in the table above consists of real estate obtained through foreclosure. Other real estate owned is recorded at fair value less estimated selling costs, at the date of transfer. Subsequent to the transfer, other real estate owned is carried at the lower of cost or fair value, less estimated selling costs. The carrying value of other real estate owned is not re-measured to fair value on a recurring basis but is subject to fair value adjustments when the carrying value exceeds the fair value less estimated selling costs. Management uses appraised values and adjusts for trends observed in the market and for disposition costs in determining the value of other real estate owned. A valuation allowance was recorded for the excess of the asset’s recorded investment over the amount determined by the fair value, less estimated selling costs. This valuation allowance is a component of the allowance for other real estate owned. The valuation allowance was $4,644,000 as of March 31, 2014 and December 31, 2013. The Company considers these fair values level 3. | ||||||||||||||||||
The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||
2014 | ||||||||||||||||||
Fair Value | Valuation | Range | ||||||||||||||||
Techniques | Range of Unobservable Inputs | (Average) | ||||||||||||||||
Impaired Loans | $ | 752,000 | Evaluation of collateral | Estimation of value | NM* | |||||||||||||
Other real estate owned | $ | 8,880,000 | Appraisal | Appraisal adjustment | 6%-10% (8%) | |||||||||||||
2013 | ||||||||||||||||||
Fair Value | Valuation | Range | ||||||||||||||||
Techniques | Range of Unobservable Inputs | (Average) | ||||||||||||||||
Impaired Loans | $ | 648,000 | Evaluation of collateral | Estimation of value | NM* | |||||||||||||
Other real estate owned | $ | 8,861,000 | Appraisal | Appraisal adjustment | 6%-10% (8%) | |||||||||||||
* Not Meaningful. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered included aging of receivables, condition of the collateral, potential market for the collateral and estimated disposal costs. These discounts will vary from loan to loan, thus providing a range would not be meaningful. | ||||||||||||||||||
Accounting principles generally accepted in the United State of America (GAAP) requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are discussed above. The methodologies for other financial assets and financial liabilities are discussed below. | ||||||||||||||||||
Fair value of financial instruments: | ||||||||||||||||||
Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the consolidated balance sheets. In cases in which quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases could not be realized in immediate settlement of the instruments. Certain financial instruments with a fair value that is not practicable to estimate and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Company. | ||||||||||||||||||
The following disclosures represent financial instruments in which the ending balances at March 31, 2014 and December 31, 2013 are not carried at fair value in their entirety on the consolidated balance sheets. | ||||||||||||||||||
Cash and due from banks and interest bearing deposits in financial institutions: The recorded amount of these assets approximates fair value. | ||||||||||||||||||
Securities available-for-sale: Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the securities credit rating, prepayment assumptions and other factors such as credit loss assumptions. | ||||||||||||||||||
Loans held for sale: The fair value of loans held for sale is based on prevailing market prices. | ||||||||||||||||||
Loans receivable: The fair value of loans is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates, which reflect the credit and interest rate risk inherent in the loan. The estimate of maturity is based on the historical experience, with repayments for each loan classification modified, as required, by an estimate of the effect of current economic and lending conditions. The effect of nonperforming loans is considered in assessing the credit risk inherent in the fair value estimate. | ||||||||||||||||||
Deposit liabilities: Fair values of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings and NOW accounts, and money market accounts, are equal to the amount payable on demand as of the respective balance sheet date. Fair values of certificates of deposit are based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The fair value estimates do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market. | ||||||||||||||||||
Securities sold under agreements to repurchase and federal funds purchased: The carrying amounts of securities sold under agreements to repurchase and federal funds purchased approximate fair value because of the generally short-term nature of the instruments. | ||||||||||||||||||
FHLB advances and other long-term borrowings: Fair values of FHLB advances and other long-term borrowings are estimated using discounted cash flow analysis based on interest rates currently being offered with similar terms. | ||||||||||||||||||
Accrued income receivable and accrued interest payable: The carrying amounts of accrued income receivable and accrued interest payable approximate fair value. | ||||||||||||||||||
Commitments to extend credit and standby letters of credit: The fair values of commitments to extend credit and standby letters of credit are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and credit worthiness of the counterparties. The carry value and fair value of the commitments to extend credit and standby letters of credit are not considered significant. | ||||||||||||||||||
Limitations: Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | ||||||||||||||||||
The estimated fair values of the Company’s financial instruments as described above were as follows: | ||||||||||||||||||
March 31, | December 31, | |||||||||||||||||
2014 | 2013 | |||||||||||||||||
Fair Value | ||||||||||||||||||
Hierarchy | Carrying | Fair | Carrying | Fair | ||||||||||||||
Level | Amount | Value | Amount | Value | ||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and due from banks | Level 1 | $ | 30,409,845 | $ | 30,410,000 | $ | 24,270,031 | $ | 24,270,000 | |||||||||
Interest bearing deposits | Level 1 | 40,366,808 | 40,367,000 | 23,628,117 | 23,628,000 | |||||||||||||
Securities available-for-sale | See previous table | 600,831,476 | 600,831,000 | 580,039,080 | 580,039,000 | |||||||||||||
Loans receivable, net | Level 2 | 548,545,071 | 548,149,000 | 564,501,547 | 562,073,000 | |||||||||||||
Loans held for sale | Level 2 | - | - | 295,618 | 296,000 | |||||||||||||
Accrued income receivable | Level 1 | 7,432,502 | 7,433,000 | 7,437,673 | 7,438,000 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | Level 2 | $ | 1,027,793,013 | $ | 1,029,998,781 | $ | 1,011,803,178 | $ | 1,014,150,000 | |||||||||
Securities sold under agreements to repurchase | Level 1 | 39,910,174 | 39,910,000 | 39,616,644 | 39,617,000 | |||||||||||||
FHLB advances | Level 2 | 16,722,546 | 17,577,000 | 14,540,526 | 15,441,000 | |||||||||||||
Other long-term borrowings | Level 2 | 20,000,000 | 21,754,000 | 20,000,000 | 22,033,000 | |||||||||||||
Accrued interest payable | Level 1 | 543,656 | 544,000 | 594,223 | 594,000 | |||||||||||||
The methodologies used to determine fair value as of March 31, 2014 did not change from the methodologies described in the December 31, 2013 Annual Financial Statements. |
Debt_and_Equity_Securities
Debt and Equity Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Debt and Equity Securities | ' | ||||||||||||||||||||||||
6 | Debt and Equity Securities | ||||||||||||||||||||||||
The amortized cost of securities available-for-sale and their fair values are summarized below: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 86,250,287 | $ | 1,179,941 | $ | (1,034,378 | ) | $ | 86,395,850 | ||||||||||||||||
U.S. government mortgage-backed securities | 147,744,732 | 2,970,908 | (705,335 | ) | 150,010,305 | ||||||||||||||||||||
State and political subdivisions | 311,717,311 | 5,278,009 | (2,818,889 | ) | 314,176,431 | ||||||||||||||||||||
Corporate bonds | 47,218,869 | 731,812 | (1,490,191 | ) | 46,460,490 | ||||||||||||||||||||
Equity securities, financial industry common stock | 629,700 | 146,100 | - | 775,800 | |||||||||||||||||||||
Equity securities, other | 3,012,600 | - | - | 3,012,600 | |||||||||||||||||||||
$ | 596,573,499 | $ | 10,306,770 | $ | (6,048,793 | ) | $ | 600,831,476 | |||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U.S. government agencies | $ | 61,569,302 | $ | 1,116,644 | $ | (1,508,155 | ) | $ | 61,177,791 | ||||||||||||||||
U.S. government mortgage-backed securities | 153,857,058 | 2,846,821 | (1,561,923 | ) | 155,141,956 | ||||||||||||||||||||
State and political subdivisions | 314,177,458 | 5,055,906 | (4,009,231 | ) | 315,224,133 | ||||||||||||||||||||
Corporate bonds | 46,186,879 | 756,222 | (2,191,401 | ) | 44,751,700 | ||||||||||||||||||||
Equity securities, financial industry common stock | 629,700 | 211,200 | - | 840,900 | |||||||||||||||||||||
Equity securities, other | 2,902,600 | - | - | 2,902,600 | |||||||||||||||||||||
$ | 579,322,997 | $ | 9,986,793 | $ | (9,270,710 | ) | $ | 580,039,080 | |||||||||||||||||
The proceeds, gains and losses from securities available-for-sale are summarized as follows: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Proceeds from sales of securities available-for-sale | $ | 3,478,851 | $ | 1,701,395 | |||||||||||||||||||||
Gross realized gains on securities available-for-sale | 135,081 | 70,502 | |||||||||||||||||||||||
Gross realized losses on securities available-for-sale | - | 1,511 | |||||||||||||||||||||||
Tax provision applicable to net realized gains on securities available-for-sale | 50,000 | 26,000 | |||||||||||||||||||||||
Unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are summarized as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. government agencies | $ | 35,509,515 | $ | (1,034,378 | ) | $ | - | $ | - | $ | 35,509,515 | $ | (1,034,378 | ) | |||||||||||
U.S. government mortgage-backed securities | 52,185,115 | (653,242 | ) | 2,679,015 | (52,093 | ) | 54,864,130 | (705,335 | ) | ||||||||||||||||
State and political subdivisions | 88,082,052 | (1,925,797 | ) | 20,322,416 | (893,092 | ) | 108,404,468 | (2,818,889 | ) | ||||||||||||||||
Corporate bonds | 16,103,518 | (472,849 | ) | 15,274,024 | (1,017,342 | ) | 31,377,542 | (1,490,191 | ) | ||||||||||||||||
$ | 191,880,200 | $ | (4,086,266 | ) | $ | 38,275,455 | $ | (1,962,527 | ) | $ | 230,155,655 | $ | (6,048,793 | ) | |||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. government agencies | $ | 31,806,447 | $ | (1,508,155 | ) | $ | - | $ | - | $ | 31,806,447 | $ | (1,508,155 | ) | |||||||||||
U.S. government mortgage-backed securities | 71,326,568 | (1,479,321 | ) | 2,771,874 | (82,602 | ) | 74,098,442 | (1,561,923 | ) | ||||||||||||||||
State and political subdivisions | 99,974,091 | (3,028,851 | ) | 15,438,484 | (980,380 | ) | 115,412,575 | (4,009,231 | ) | ||||||||||||||||
Corporate bonds | 21,382,087 | (1,150,658 | ) | 8,798,047 | (1,040,743 | ) | 30,180,134 | (2,191,401 | ) | ||||||||||||||||
$ | 224,489,193 | $ | (7,166,985 | ) | $ | 27,008,405 | $ | (2,103,725 | ) | $ | 251,497,598 | $ | (9,270,710 | ) | |||||||||||
Gross unrealized losses on debt securities totaled $6,048,793 as of March 31, 2014. These unrealized losses are generally due to changes in interest rates or general market conditions. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and industry analysts’ reports. Management concluded that the gross unrealized losses on debt securities were temporary. Due to potential changes in conditions, it is at least reasonably possible that changes in fair values and management’s assessments will occur in the near term and that such changes could materially affect the amounts reported in the Company’s financial statements. |
Loans_Receivable_and_Credit_Di
Loans Receivable and Credit Disclosures | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Loans Receivable and Credit Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans Receivable and Credit Disclosures | ' | ||||||||||||||||||||||||||||||||
7 | Loan Receivable and Credit Disclosures | ||||||||||||||||||||||||||||||||
Activity in the allowance for loan losses, on a disaggregated basis, for the three months ended March 31, 2014 and 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 392 | $ | 1,523 | $ | 3,230 | $ | 686 | $ | 1,435 | $ | 1,165 | $ | 141 | $ | 8,572 | |||||||||||||||||
Provision (credit) for loan losses | 48 | 18 | (31 | ) | 45 | (31 | ) | (58 | ) | 48 | 39 | ||||||||||||||||||||||
Recoveries of loans charged-off | - | 4 | - | - | 1 | - | 5 | 10 | |||||||||||||||||||||||||
Loans charged-off | - | (5 | ) | - | - | - | - | (48 | ) | (53 | ) | ||||||||||||||||||||||
Balance, March 31 2014 | $ | 440 | $ | 1,540 | $ | 3,199 | $ | 731 | $ | 1,405 | $ | 1,107 | $ | 146 | $ | 8,568 | |||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 375 | $ | 1,433 | $ | 2,859 | $ | 523 | $ | 1,461 | $ | 945 | $ | 177 | $ | 7,773 | |||||||||||||||||
Provision (credit) for loan losses | (49 | ) | 61 | 216 | 1 | (157 | ) | (41 | ) | (17 | ) | 14 | |||||||||||||||||||||
Recoveries of loans charged-off | - | 21 | - | - | 1 | - | 4 | 26 | |||||||||||||||||||||||||
Loans charged-off | - | (23 | ) | - | - | - | - | (4 | ) | (27 | ) | ||||||||||||||||||||||
Balance, March 31, 2013 | $ | 326 | $ | 1,492 | $ | 3,075 | $ | 524 | $ | 1,305 | $ | 904 | $ | 160 | $ | 7,786 | |||||||||||||||||
Allowance for loan losses disaggregated on the basis of impairment analysis method as of March 31, 2014 and December 31, 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 122 | $ | 20 | $ | - | $ | 300 | $ | 4 | $ | - | $ | 446 | |||||||||||||||||
Collectively evaluated for impairment | 440 | 1,418 | 3,179 | 731 | 1,105 | 1,103 | 146 | 8,122 | |||||||||||||||||||||||||
Balance March 31, 2014 | $ | 440 | $ | 1,540 | $ | 3,199 | $ | 731 | $ | 1,405 | $ | 1,107 | $ | 146 | $ | 8,568 | |||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 122 | $ | 20 | $ | - | $ | 330 | $ | 5 | $ | - | $ | 477 | |||||||||||||||||
Collectively evaluated for impairment | 392 | 1,401 | 3,210 | 686 | 1,105 | 1,160 | 141 | 8,095 | |||||||||||||||||||||||||
Balance December 31, 2013 | $ | 392 | $ | 1,523 | $ | 3,230 | $ | 686 | $ | 1,435 | $ | 1,165 | $ | 141 | $ | 8,572 | |||||||||||||||||
Loans receivable disaggregated on the basis of impairment analysis method as of March 31, 2014 and December 31, 2013 is as follows (in thousands): | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 496 | $ | 461 | $ | 90 | $ | - | $ | 796 | $ | 23 | $ | 14 | $ | 1,880 | |||||||||||||||||
Collectively evaluated for impairment | 25,297 | 111,845 | 198,818 | 52,234 | 82,723 | 71,851 | 12,503 | 555,271 | |||||||||||||||||||||||||
Balance March 31, 2014 | $ | 25,793 | $ | 112,306 | $ | 198,908 | $ | 52,234 | $ | 83,519 | $ | 71,874 | $ | 12,517 | $ | 557,151 | |||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 510 | $ | 784 | $ | 526 | $ | - | $ | 816 | $ | 24 | $ | 61 | $ | 2,721 | |||||||||||||||||
Collectively evaluated for impairment | 23,418 | 107,506 | 205,585 | 53,834 | 86,007 | 81,302 | 12,734 | 570,386 | |||||||||||||||||||||||||
Balance December 31, 2013 | $ | 23,928 | $ | 108,290 | $ | 206,111 | $ | 53,834 | $ | 86,823 | $ | 81,326 | $ | 12,795 | $ | 573,107 | |||||||||||||||||
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 payment of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. The Company will apply its normal loan review procedures to identify loans that should be evaluated for impairment. The following is a recap of impaired loans, on a disaggregated basis, at March 31, 2014 and December 31, 2013: (in thousands) | |||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||||||||||
With no specific reserve recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 496 | $ | 496 | $ | - | $ | 510 | $ | 510 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 65 | 65 | - | 483 | 483 | - | |||||||||||||||||||||||||||
Real estate - commercial | 44 | 44 | - | 480 | 480 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 44 | 44 | - | 43 | 43 | - | |||||||||||||||||||||||||||
Agricultural | 19 | 19 | - | 19 | 19 | - | |||||||||||||||||||||||||||
Consumer and other | 14 | 14 | - | 61 | 61 | - | |||||||||||||||||||||||||||
Total loans with no specific reserve: | 682 | 682 | - | 1,596 | 1,596 | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 396 | 396 | 122 | 301 | 301 | 122 | |||||||||||||||||||||||||||
Real estate - commercial | 46 | 46 | 20 | 46 | 46 | 20 | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 752 | 752 | 300 | 773 | 773 | 330 | |||||||||||||||||||||||||||
Agricultural | 4 | 4 | 4 | 5 | 5 | 5 | |||||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total loans with specific reserve: | 1,198 | 1,198 | 446 | 1,125 | 1,125 | 477 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Real estate - construction | 496 | 496 | - | 510 | 510 | - | |||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 461 | 461 | 122 | 784 | 784 | 122 | |||||||||||||||||||||||||||
Real estate - commercial | 90 | 90 | 20 | 526 | 526 | 20 | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 796 | 796 | 300 | 816 | 816 | 330 | |||||||||||||||||||||||||||
Agricultural | 23 | 23 | 4 | 24 | 24 | 5 | |||||||||||||||||||||||||||
Consumer and other | 14 | 14 | - | 61 | 61 | - | |||||||||||||||||||||||||||
$ | 1,880 | $ | 1,880 | $ | 446 | $ | 2,721 | $ | 2,721 | $ | 477 | ||||||||||||||||||||||
The following is a recap of the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2014 and 2013: (in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
With no specific reserve recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 503 | $ | - | $ | 1,033 | $ | - | |||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 274 | 5 | 660 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 262 | 28 | 996 | 2 | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 43 | - | 75 | - | |||||||||||||||||||||||||||||
Agricultural | 19 | - | - | - | |||||||||||||||||||||||||||||
Consumer and other | 38 | - | 4 | - | |||||||||||||||||||||||||||||
Total loans with no specific reserve: | 1,139 | 33 | 2,768 | 2 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | - | - | 431 | - | |||||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 349 | - | 506 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 46 | - | 2,248 | - | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 764 | - | 676 | - | |||||||||||||||||||||||||||||
Agricultural | 5 | - | 6 | - | |||||||||||||||||||||||||||||
Consumer and other | - | - | 1 | - | |||||||||||||||||||||||||||||
Total loans with specific reserve: | 1,164 | - | 3,868 | - | |||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Real estate - construction | 503 | - | 1,464 | - | |||||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 623 | 5 | 1,166 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 308 | 28 | 3,244 | 2 | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 807 | - | 751 | - | |||||||||||||||||||||||||||||
Agricultural | 24 | - | 6 | - | |||||||||||||||||||||||||||||
Consumer and other | 38 | - | 5 | - | |||||||||||||||||||||||||||||
$ | 2,303 | $ | 33 | $ | 6,636 | $ | 2 | ||||||||||||||||||||||||||
The interest foregone on nonaccrual loans for the three months ended March 31, 2014 and 2013 was approximately $37,000 and $85,000, respectively. | |||||||||||||||||||||||||||||||||
The Company had loans meeting the definition of a troubled debt restructuring (TDR) of $1,223,000 as of March 31, 2014, of which all were included in impaired loans and nonaccrual loans. The Company had TDRs of $1,424,000 as of December 31, 2013, all of which were included in impaired loans, $1,237,000 was included as nonaccrual loans and $187,000 was on accrual status. | |||||||||||||||||||||||||||||||||
The following table sets forth information on the Company’s TDRs, on a disaggregated basis, occurring in the three months ended March 31, 2014 and 2013: (dollars in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||||||||||
Real estate - construction | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||||
Real estate - 1 to 4 family residential | - | - | - | - | - | - | |||||||||||||||||||||||||||
Real estate - commercial | 1 | 43 | 43 | - | - | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | - | - | - | - | - | - | |||||||||||||||||||||||||||
Agricultural | 1 | 19 | 19 | - | - | - | |||||||||||||||||||||||||||
Consumer and other | 1 | 6 | 6 | - | - | - | |||||||||||||||||||||||||||
3 | $ | 68 | $ | 68 | - | $ | - | $ | - | ||||||||||||||||||||||||
During the three months ended March 31, 2014, the Company granted concessions to two borrowers experiencing financial difficulties. The commercial real estate loan was restructured as an interest only loan for a period of time. The agricultural and consumer loans maturity date was extended one year with interest only until maturity. | |||||||||||||||||||||||||||||||||
There was no new TDR activity in the three months ended March 31, 2013. | |||||||||||||||||||||||||||||||||
A TDR loan is considered to have payment default when it is past due 60 days or more. | |||||||||||||||||||||||||||||||||
There was one charge-off related to a TDR for the three months ended March 31, 2014 in the amount of $44,000 and no charge-offs related to TDRs for the three months ended March 31, 2013. There was no impact for specific reserves for the three months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||||||
An aging analysis of the recorded investments in loans, on a disaggregated basis, as of March 31, 2014 and December 31, 2013, is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
90 Days | 90 Days | ||||||||||||||||||||||||||||||||
30-89 | or Greater | Total | or Greater | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | Accruing | ||||||||||||||||||||||||||||
Real estate - construction | $ | - | $ | - | $ | - | $ | 25,793 | $ | 25,793 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 728 | 266 | 994 | 111,312 | 112,306 | - | |||||||||||||||||||||||||||
Real estate - commercial | 72 | 46 | 118 | 198,790 | 198,908 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | 52,234 | 52,234 | - | |||||||||||||||||||||||||||
Commercial | 101 | 24 | 125 | 83,394 | 83,519 | - | |||||||||||||||||||||||||||
Agricultural | 617 | - | 617 | 71,257 | 71,874 | - | |||||||||||||||||||||||||||
Consumer and other | 281 | - | 281 | 12,236 | 12,517 | - | |||||||||||||||||||||||||||
$ | 1,799 | $ | 336 | $ | 2,135 | $ | 555,016 | $ | 557,151 | $ | - | ||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
90 Days | 90 Days | ||||||||||||||||||||||||||||||||
30-89 | or Greater | Total | or Greater | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | Accruing | ||||||||||||||||||||||||||||
Real estate - construction | $ | - | $ | - | $ | - | $ | 23,928 | $ | 23,928 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 1,059 | 4,000 | 5,059 | 103,230 | 108,289 | 27 | |||||||||||||||||||||||||||
Real estate - commercial | - | 46 | 46 | 206,066 | 206,112 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | 53,834 | 53,834 | - | |||||||||||||||||||||||||||
Commercial | 88 | 375 | 463 | 86,360 | 86,823 | - | |||||||||||||||||||||||||||
Agricultural | - | - | - | 81,326 | 81,326 | - | |||||||||||||||||||||||||||
Consumer and other | 35 | - | 35 | 12,760 | 12,795 | - | |||||||||||||||||||||||||||
$ | 1,182 | $ | 4,421 | $ | 5,603 | $ | 567,504 | $ | 573,107 | $ | 27 | ||||||||||||||||||||||
The credit risk profile by internally assigned grade, on a disaggregated basis, at March 31, 2014 and December 31, 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
Construction | Commercial | Agricultural | |||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Agricultural | Total | ||||||||||||||||||||||||||||
Pass | $ | 19,810 | $ | 167,072 | $ | 49,775 | $ | 72,224 | $ | 70,171 | $ | 379,052 | |||||||||||||||||||||
Watch | 2,964 | 20,571 | 2,346 | 9,080 | 1,339 | 36,300 | |||||||||||||||||||||||||||
Special Mention | - | 746 | - | - | 90 | 836 | |||||||||||||||||||||||||||
Substandard | 2,523 | 10,429 | 113 | 1,419 | 251 | 14,735 | |||||||||||||||||||||||||||
Substandard-Impaired | 496 | 90 | - | 796 | 23 | 1,405 | |||||||||||||||||||||||||||
$ | 25,793 | $ | 198,908 | $ | 52,234 | $ | 83,519 | $ | 71,874 | $ | 432,328 | ||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Construction | Commercial | Agricultural | |||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Agricultural | Total | ||||||||||||||||||||||||||||
Pass | $ | 16,887 | $ | 169,659 | $ | 51,486 | $ | 73,073 | $ | 78,476 | $ | 389,581 | |||||||||||||||||||||
Watch | 3,545 | 20,267 | 2,051 | 10,717 | 1,963 | 38,543 | |||||||||||||||||||||||||||
Special Mention | - | 798 | - | 796 | 9 | 1,603 | |||||||||||||||||||||||||||
Substandard | 2,986 | 14,862 | 297 | 1,421 | 854 | 20,420 | |||||||||||||||||||||||||||
Substandard-Impaired | 510 | 526 | - | 816 | 24 | 1,876 | |||||||||||||||||||||||||||
$ | 23,928 | $ | 206,112 | $ | 53,834 | $ | 86,823 | $ | 81,326 | $ | 452,023 | ||||||||||||||||||||||
The credit risk profile based on payment activity, on a disaggregated basis, at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Residential | Consumer | ||||||||||||||||||||||||||||||||
Real Estate | and Other | Total | |||||||||||||||||||||||||||||||
Performing | $ | 111,845 | $ | 12,504 | $ | 124,349 | |||||||||||||||||||||||||||
Non-performing | 461 | 13 | 474 | ||||||||||||||||||||||||||||||
$ | 112,306 | $ | 12,517 | $ | 124,823 | ||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Residential | Consumer | ||||||||||||||||||||||||||||||||
Real Estate | and Other | Total | |||||||||||||||||||||||||||||||
Performing | $ | 107,667 | $ | 12,740 | $ | 120,407 | |||||||||||||||||||||||||||
Non-performing | 623 | 55 | 678 | ||||||||||||||||||||||||||||||
$ | 108,290 | $ | 12,795 | $ | 121,085 |
Other_Real_Estate_Owned
Other Real Estate Owned | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other Real Estate Owned [Abstract] | ' | ||||||||
Other Real Estate Owned | ' | ||||||||
8 | Other Real Estate Owned | ||||||||
The following table provides the composition of other real estate owned as of March 31, 2014 and December 31, 2013: | |||||||||
2014 | 2013 | ||||||||
Construction and land development | $ | 6,750,503 | $ | 6,750,503 | |||||
1 to 4 family residential real estate | 1,315,587 | 1,296,227 | |||||||
Commercial real estate | 814,377 | 814,377 | |||||||
$ | 8,880,467 | $ | 8,861,107 | ||||||
The Company is actively marketing the assets referred in the table above. Management uses appraised values and adjusts for trends observed in the market and for disposition costs in determining the value of other real estate owned. The assets above are primarily located in the metropolitan Des Moines, Iowa and Ames, Iowa areas. |
Goodwill
Goodwill | 3 Months Ended | |
Mar. 31, 2014 | ||
Goodwill [Abstract] | ' | |
Goodwill | ' | |
9 | Goodwill | |
Goodwill was recognized in 2012 due to the acquisition which resulted in an expanded market area. The goodwill resulted from a premium paid related to this acquisition. The goodwill is not amortized but is evaluated for impairment at least annually. For income tax purposes, goodwill is amortized over 15 years. | ||
Core_deposit_intangible_asset
Core deposit intangible asset | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Core deposit intangible asset [Abstract] | ' | ||||||||||||||||
Core deposit intangible asset | ' | ||||||||||||||||
10 | Core deposit intangible asset | ||||||||||||||||
In conjunction with the 2012 acquisition mentioned in Note 10, the Corporation recorded a $1.5 million core deposit intangible asset. The following sets forth the carrying amounts and accumulated amortization of core deposit intangible assets at March 31, 2014 and December 31, 2013: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Core deposit intangible asset | $ | 1,500,000 | $ | 536,184 | $ | 1,500,000 | $ | 470,436 | |||||||||
There were no additions of acquired intangible assets during 2014 or 2013. | |||||||||||||||||
Amortization expense on core deposit intangible assets totaled $65,748 and $73,773 for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||
Estimated remaining amortization expense on core deposit intangible for the years ending is as follows: | |||||||||||||||||
2014 | $ | 178,252 | |||||||||||||||
2015 | 217,500 | ||||||||||||||||
2016 | 193,864 | ||||||||||||||||
2017 | 172,768 | ||||||||||||||||
2018 | 152,732 | ||||||||||||||||
2019 | 48,700 | ||||||||||||||||
$ | 963,816 |
Subsequent_Events
Subsequent Events | 3 Months Ended | |
Mar. 31, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Events | ' | |
11 | Subsequent Events | |
Management evaluated subsequent events through the date the financial statements were issued. On April 30, 2014, First National Bank, Ames, Iowa, a 100% owned subsidiary of Ames National Corporation, entered into a purchase and assumption agreement with another financial institution to purchase substantially all of the assets of the other institution, including loans, and assume substantially all of the liabilities of the other institution, including deposits. At closing, First National Bank expects to provide the seller with a payment of approximately $4,700,000, adjusted for certain items at closing. The transaction is expected to close in the third quarter of 2014, subject to regulatory approval and other customary closing conditions. There were no other significant events or transactions occurring after March 31, 2014, but prior to May 8, 2014, that provided additional evidence about conditions that existed at March 31, 2014. There were no other significant events or transactions that provided evidence about conditions that did not exist at March 31, 2014. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Significant Accounting Policies [Abstract] | ' |
Consolidation | ' |
The consolidated financial statements for the three months ended March 31, 2014 and 2013 are unaudited. In the opinion of the management of Ames National Corporation (the "Company"), these financial statements reflect all adjustments, consisting only of normal recurring accruals, necessary to present fairly these consolidated financial statements. The results of operations for the interim periods are not necessarily indicative of results which may be expected for an entire year. Certain information and footnote disclosures normally included in complete financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted in accordance with the requirements for interim financial statements. The interim financial statements and notes thereto should be read in conjunction with the year-end audited financial statements contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 (the “Annual Report”). The consolidated financial statements include the accounts of the Company and its wholly-owned banking subsidiaries (the “Banks”). All significant intercompany balances and transactions have been eliminated in consolidation. | |
Goodwill | ' |
Goodwill: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually or whenever events change and circumstances indicate that it is more likely than not that an impairment loss has occurred. Goodwill is tested for impairment using a two-step process that begins with an estimation of the fair value of a reporting unit. The second step, if necessary, measures the amount of impairment, if any. | |
Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions and selecting an appropriate control premium. At March 31, 2014, Company management has performed a goodwill impairment analysis and determined goodwill was not impaired. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-04, Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. The update clarifies when an in substance foreclosure occurs, that is, when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. This is the point when the consumer mortgage loan should be derecognized and the real property recognized. For public companies, this update will be effective for interim and annual periods beginning after December 31, 2014 and early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||
Assets measured at fair value on a recurring basis | ' | |||||||||||||||||
The following table presents the balances of assets measured at fair value on a recurring basis by level as of March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
2014 | ||||||||||||||||||
U.S. government agencies | $ | 86,396,000 | $ | - | $ | 86,396,000 | $ | - | ||||||||||
U.S. government mortgage-backed securities | 150,010,000 | - | 150,010,000 | - | ||||||||||||||
State and political subdivisions | 314,176,000 | - | 314,176,000 | - | ||||||||||||||
Corporate bonds | 46,460,000 | - | 46,460,000 | - | ||||||||||||||
Equity securities, financial industry common stock | 776,000 | 776,000 | - | - | ||||||||||||||
Equity securities, other | 3,013,000 | - | 3,013,000 | - | ||||||||||||||
$ | 600,831,000 | $ | 776,000 | $ | 600,055,000 | $ | - | |||||||||||
2013 | ||||||||||||||||||
U.S. government agencies | $ | 61,178,000 | $ | - | $ | 61,178,000 | $ | - | ||||||||||
U.S. government mortgage-backed securities | 155,142,000 | - | 155,142,000 | - | ||||||||||||||
State and political subdivisions | 315,224,000 | - | 315,224,000 | - | ||||||||||||||
Corporate bonds | 44,752,000 | - | 44,752,000 | - | ||||||||||||||
Equity securities, financial industry common stock | 841,000 | 841,000 | - | - | ||||||||||||||
Equity securities, other | 2,902,000 | - | 2,902,000 | - | ||||||||||||||
$ | 580,039,000 | $ | 841,000 | $ | 579,198,000 | $ | - | |||||||||||
Assets measured at fair value on nonrecurring basis | ' | |||||||||||||||||
Certain assets are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table presents the assets carried on the balance sheet (after specific reserves) by caption and by level with the valuation hierarchy as of March 31, 2014 and December 31, 2013. | ||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
2014 | ||||||||||||||||||
Loans receivable | $ | 752,000 | $ | - | $ | - | $ | 752,000 | ||||||||||
Other real estate owned | 8,880,000 | - | - | 8,880,000 | ||||||||||||||
Total | $ | 9,632,000 | $ | - | $ | - | $ | 9,632,000 | ||||||||||
2013 | ||||||||||||||||||
Loans receivable | $ | 648,000 | $ | - | $ | - | $ | 648,000 | ||||||||||
Other real estate owned | 8,861,000 | - | - | 8,861,000 | ||||||||||||||
Total | $ | 9,509,000 | $ | - | $ | - | $ | 9,509,000 | ||||||||||
Significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis | ' | |||||||||||||||||
The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||
2014 | ||||||||||||||||||
Fair Value | Valuation | Range | ||||||||||||||||
Techniques | Range of Unobservable Inputs | (Average) | ||||||||||||||||
Impaired Loans | $ | 752,000 | Evaluation of collateral | Estimation of value | NM* | |||||||||||||
Other real estate owned | $ | 8,880,000 | Appraisal | Appraisal adjustment | 6%-10% (8%) | |||||||||||||
2013 | ||||||||||||||||||
Fair Value | Valuation | Range | ||||||||||||||||
Techniques | Range of Unobservable Inputs | (Average) | ||||||||||||||||
Impaired Loans | $ | 648,000 | Evaluation of collateral | Estimation of value | NM* | |||||||||||||
Other real estate owned | $ | 8,861,000 | Appraisal | Appraisal adjustment | 6%-10% (8%) | |||||||||||||
* Not Meaningful. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered included aging of receivables, condition of the collateral, potential market for the collateral and estimated disposal costs. These discounts will vary from loan to loan, thus providing a range would not be meaningful. | ||||||||||||||||||
Estimated fair values financial instruments | ' | |||||||||||||||||
The estimated fair values of the Company’s financial instruments as described above were as follows: | ||||||||||||||||||
March 31, | December 31, | |||||||||||||||||
2014 | 2013 | |||||||||||||||||
Fair Value | ||||||||||||||||||
Hierarchy | Carrying | Fair | Carrying | Fair | ||||||||||||||
Level | Amount | Value | Amount | Value | ||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and due from banks | Level 1 | $ | 30,409,845 | $ | 30,410,000 | $ | 24,270,031 | $ | 24,270,000 | |||||||||
Interest bearing deposits | Level 1 | 40,366,808 | 40,367,000 | 23,628,117 | 23,628,000 | |||||||||||||
Securities available-for-sale | See previous table | 600,831,476 | 600,831,000 | 580,039,080 | 580,039,000 | |||||||||||||
Loans receivable, net | Level 2 | 548,545,071 | 548,149,000 | 564,501,547 | 562,073,000 | |||||||||||||
Loans held for sale | Level 2 | - | - | 295,618 | 296,000 | |||||||||||||
Accrued income receivable | Level 1 | 7,432,502 | 7,433,000 | 7,437,673 | 7,438,000 | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | Level 2 | $ | 1,027,793,013 | $ | 1,029,998,781 | $ | 1,011,803,178 | $ | 1,014,150,000 | |||||||||
Securities sold under agreements to repurchase | Level 1 | 39,910,174 | 39,910,000 | 39,616,644 | 39,617,000 | |||||||||||||
FHLB advances | Level 2 | 16,722,546 | 17,577,000 | 14,540,526 | 15,441,000 | |||||||||||||
Other long-term borrowings | Level 2 | 20,000,000 | 21,754,000 | 20,000,000 | 22,033,000 | |||||||||||||
Accrued interest payable | Level 1 | 543,656 | 544,000 | 594,223 | 594,000 |
Debt_and_Equity_Securities_Tab
Debt and Equity Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized cost of securities available for sale and their fair values | ' | ||||||||||||||||||||||||
The amortized cost of securities available-for-sale and their fair values are summarized below: | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
U.S. government agencies | $ | 86,250,287 | $ | 1,179,941 | $ | (1,034,378 | ) | $ | 86,395,850 | ||||||||||||||||
U.S. government mortgage-backed securities | 147,744,732 | 2,970,908 | (705,335 | ) | 150,010,305 | ||||||||||||||||||||
State and political subdivisions | 311,717,311 | 5,278,009 | (2,818,889 | ) | 314,176,431 | ||||||||||||||||||||
Corporate bonds | 47,218,869 | 731,812 | (1,490,191 | ) | 46,460,490 | ||||||||||||||||||||
Equity securities, financial industry common stock | 629,700 | 146,100 | - | 775,800 | |||||||||||||||||||||
Equity securities, other | 3,012,600 | - | - | 3,012,600 | |||||||||||||||||||||
$ | 596,573,499 | $ | 10,306,770 | $ | (6,048,793 | ) | $ | 600,831,476 | |||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U.S. government agencies | $ | 61,569,302 | $ | 1,116,644 | $ | (1,508,155 | ) | $ | 61,177,791 | ||||||||||||||||
U.S. government mortgage-backed securities | 153,857,058 | 2,846,821 | (1,561,923 | ) | 155,141,956 | ||||||||||||||||||||
State and political subdivisions | 314,177,458 | 5,055,906 | (4,009,231 | ) | 315,224,133 | ||||||||||||||||||||
Corporate bonds | 46,186,879 | 756,222 | (2,191,401 | ) | 44,751,700 | ||||||||||||||||||||
Equity securities, financial industry common stock | 629,700 | 211,200 | - | 840,900 | |||||||||||||||||||||
Equity securities, other | 2,902,600 | - | - | 2,902,600 | |||||||||||||||||||||
$ | 579,322,997 | $ | 9,986,793 | $ | (9,270,710 | ) | $ | 580,039,080 | |||||||||||||||||
Proceeds, gains and losses from securities available-for-sale | ' | ||||||||||||||||||||||||
The proceeds, gains and losses from securities available-for-sale are summarized as follows: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Proceeds from sales of securities available-for-sale | $ | 3,478,851 | $ | 1,701,395 | |||||||||||||||||||||
Gross realized gains on securities available-for-sale | 135,081 | 70,502 | |||||||||||||||||||||||
Gross realized losses on securities available-for-sale | - | 1,511 | |||||||||||||||||||||||
Tax provision applicable to net realized gains on securities available-for-sale | 50,000 | 26,000 | |||||||||||||||||||||||
Unrealized losses and estimated fair value by investment category | ' | ||||||||||||||||||||||||
Unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are summarized as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. government agencies | $ | 35,509,515 | $ | (1,034,378 | ) | $ | - | $ | - | $ | 35,509,515 | $ | (1,034,378 | ) | |||||||||||
U.S. government mortgage-backed securities | 52,185,115 | (653,242 | ) | 2,679,015 | (52,093 | ) | 54,864,130 | (705,335 | ) | ||||||||||||||||
State and political subdivisions | 88,082,052 | (1,925,797 | ) | 20,322,416 | (893,092 | ) | 108,404,468 | (2,818,889 | ) | ||||||||||||||||
Corporate bonds | 16,103,518 | (472,849 | ) | 15,274,024 | (1,017,342 | ) | 31,377,542 | (1,490,191 | ) | ||||||||||||||||
$ | 191,880,200 | $ | (4,086,266 | ) | $ | 38,275,455 | $ | (1,962,527 | ) | $ | 230,155,655 | $ | (6,048,793 | ) | |||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. government agencies | $ | 31,806,447 | $ | (1,508,155 | ) | $ | - | $ | - | $ | 31,806,447 | $ | (1,508,155 | ) | |||||||||||
U.S. government mortgage-backed securities | 71,326,568 | (1,479,321 | ) | 2,771,874 | (82,602 | ) | 74,098,442 | (1,561,923 | ) | ||||||||||||||||
State and political subdivisions | 99,974,091 | (3,028,851 | ) | 15,438,484 | (980,380 | ) | 115,412,575 | (4,009,231 | ) | ||||||||||||||||
Corporate bonds | 21,382,087 | (1,150,658 | ) | 8,798,047 | (1,040,743 | ) | 30,180,134 | (2,191,401 | ) | ||||||||||||||||
$ | 224,489,193 | $ | (7,166,985 | ) | $ | 27,008,405 | $ | (2,103,725 | ) | $ | 251,497,598 | $ | (9,270,710 | ) |
Loans_Receivable_and_Credit_Di1
Loans Receivable and Credit Disclosures (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Loans Receivable and Credit Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Allowance for loan losses, on a disaggregated basis | ' | ||||||||||||||||||||||||||||||||
Activity in the allowance for loan losses, on a disaggregated basis, for the three months ended March 31, 2014 and 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Balance, December 31, 2013 | $ | 392 | $ | 1,523 | $ | 3,230 | $ | 686 | $ | 1,435 | $ | 1,165 | $ | 141 | $ | 8,572 | |||||||||||||||||
Provision (credit) for loan losses | 48 | 18 | (31 | ) | 45 | (31 | ) | (58 | ) | 48 | 39 | ||||||||||||||||||||||
Recoveries of loans charged-off | - | 4 | - | - | 1 | - | 5 | 10 | |||||||||||||||||||||||||
Loans charged-off | - | (5 | ) | - | - | - | - | (48 | ) | (53 | ) | ||||||||||||||||||||||
Balance, March 31 2014 | $ | 440 | $ | 1,540 | $ | 3,199 | $ | 731 | $ | 1,405 | $ | 1,107 | $ | 146 | $ | 8,568 | |||||||||||||||||
Three Months Ended March 31, 2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Balance, December 31, 2012 | $ | 375 | $ | 1,433 | $ | 2,859 | $ | 523 | $ | 1,461 | $ | 945 | $ | 177 | $ | 7,773 | |||||||||||||||||
Provision (credit) for loan losses | (49 | ) | 61 | 216 | 1 | (157 | ) | (41 | ) | (17 | ) | 14 | |||||||||||||||||||||
Recoveries of loans charged-off | - | 21 | - | - | 1 | - | 4 | 26 | |||||||||||||||||||||||||
Loans charged-off | - | (23 | ) | - | - | - | - | (4 | ) | (27 | ) | ||||||||||||||||||||||
Balance, March 31, 2013 | $ | 326 | $ | 1,492 | $ | 3,075 | $ | 524 | $ | 1,305 | $ | 904 | $ | 160 | $ | 7,786 | |||||||||||||||||
Allowance for loan losses disaggregated on basis of impairment analysis method | ' | ||||||||||||||||||||||||||||||||
Allowance for loan losses disaggregated on the basis of impairment analysis method as of March 31, 2014 and December 31, 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 122 | $ | 20 | $ | - | $ | 300 | $ | 4 | $ | - | $ | 446 | |||||||||||||||||
Collectively evaluated for impairment | 440 | 1,418 | 3,179 | 731 | 1,105 | 1,103 | 146 | 8,122 | |||||||||||||||||||||||||
Balance March 31, 2014 | $ | 440 | $ | 1,540 | $ | 3,199 | $ | 731 | $ | 1,405 | $ | 1,107 | $ | 146 | $ | 8,568 | |||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 122 | $ | 20 | $ | - | $ | 330 | $ | 5 | $ | - | $ | 477 | |||||||||||||||||
Collectively evaluated for impairment | 392 | 1,401 | 3,210 | 686 | 1,105 | 1,160 | 141 | 8,095 | |||||||||||||||||||||||||
Balance December 31, 2013 | $ | 392 | $ | 1,523 | $ | 3,230 | $ | 686 | $ | 1,435 | $ | 1,165 | $ | 141 | $ | 8,572 | |||||||||||||||||
Loans receivable disaggregated on basis of impairment analysis method | ' | ||||||||||||||||||||||||||||||||
Loans receivable disaggregated on the basis of impairment analysis method as of March 31, 2014 and December 31, 2013 is as follows (in thousands): | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 496 | $ | 461 | $ | 90 | $ | - | $ | 796 | $ | 23 | $ | 14 | $ | 1,880 | |||||||||||||||||
Collectively evaluated for impairment | 25,297 | 111,845 | 198,818 | 52,234 | 82,723 | 71,851 | 12,503 | 555,271 | |||||||||||||||||||||||||
Balance March 31, 2014 | $ | 25,793 | $ | 112,306 | $ | 198,908 | $ | 52,234 | $ | 83,519 | $ | 71,874 | $ | 12,517 | $ | 557,151 | |||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Construction | Residential | Commercial | Agricultural | Consumer | |||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Real Estate | Commercial | Agricultural | and Other | Total | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 510 | $ | 784 | $ | 526 | $ | - | $ | 816 | $ | 24 | $ | 61 | $ | 2,721 | |||||||||||||||||
Collectively evaluated for impairment | 23,418 | 107,506 | 205,585 | 53,834 | 86,007 | 81,302 | 12,734 | 570,386 | |||||||||||||||||||||||||
Balance December 31, 2013 | $ | 23,928 | $ | 108,290 | $ | 206,111 | $ | 53,834 | $ | 86,823 | $ | 81,326 | $ | 12,795 | $ | 573,107 | |||||||||||||||||
Impaired loans | ' | ||||||||||||||||||||||||||||||||
The following is a recap of impaired loans, on a disaggregated basis, at March 31, 2014 and December 31, 2013: (in thousands) | |||||||||||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
Unpaid | Unpaid | ||||||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Principal | Related | ||||||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Balance | Allowance | ||||||||||||||||||||||||||||
With no specific reserve recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 496 | $ | 496 | $ | - | $ | 510 | $ | 510 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 65 | 65 | - | 483 | 483 | - | |||||||||||||||||||||||||||
Real estate - commercial | 44 | 44 | - | 480 | 480 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 44 | 44 | - | 43 | 43 | - | |||||||||||||||||||||||||||
Agricultural | 19 | 19 | - | 19 | 19 | - | |||||||||||||||||||||||||||
Consumer and other | 14 | 14 | - | 61 | 61 | - | |||||||||||||||||||||||||||
Total loans with no specific reserve: | 682 | 682 | - | 1,596 | 1,596 | - | |||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | - | - | - | - | - | - | |||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 396 | 396 | 122 | 301 | 301 | 122 | |||||||||||||||||||||||||||
Real estate - commercial | 46 | 46 | 20 | 46 | 46 | 20 | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 752 | 752 | 300 | 773 | 773 | 330 | |||||||||||||||||||||||||||
Agricultural | 4 | 4 | 4 | 5 | 5 | 5 | |||||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total loans with specific reserve: | 1,198 | 1,198 | 446 | 1,125 | 1,125 | 477 | |||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Real estate - construction | 496 | 496 | - | 510 | 510 | - | |||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 461 | 461 | 122 | 784 | 784 | 122 | |||||||||||||||||||||||||||
Real estate - commercial | 90 | 90 | 20 | 526 | 526 | 20 | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | 796 | 796 | 300 | 816 | 816 | 330 | |||||||||||||||||||||||||||
Agricultural | 23 | 23 | 4 | 24 | 24 | 5 | |||||||||||||||||||||||||||
Consumer and other | 14 | 14 | - | 61 | 61 | - | |||||||||||||||||||||||||||
$ | 1,880 | $ | 1,880 | $ | 446 | $ | 2,721 | $ | 2,721 | $ | 477 | ||||||||||||||||||||||
Average investment in impaired loans and interest income recognized | ' | ||||||||||||||||||||||||||||||||
The following is a recap of the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2014 and 2013: (in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||
With no specific reserve recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | $ | 503 | $ | - | $ | 1,033 | $ | - | |||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 274 | 5 | 660 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 262 | 28 | 996 | 2 | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 43 | - | 75 | - | |||||||||||||||||||||||||||||
Agricultural | 19 | - | - | - | |||||||||||||||||||||||||||||
Consumer and other | 38 | - | 4 | - | |||||||||||||||||||||||||||||
Total loans with no specific reserve: | 1,139 | 33 | 2,768 | 2 | |||||||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||||||
Real estate - construction | - | - | 431 | - | |||||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 349 | - | 506 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 46 | - | 2,248 | - | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 764 | - | 676 | - | |||||||||||||||||||||||||||||
Agricultural | 5 | - | 6 | - | |||||||||||||||||||||||||||||
Consumer and other | - | - | 1 | - | |||||||||||||||||||||||||||||
Total loans with specific reserve: | 1,164 | - | 3,868 | - | |||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||
Real estate - construction | 503 | - | 1,464 | - | |||||||||||||||||||||||||||||
Real estate - 1 to 4 family residential | 623 | 5 | 1,166 | - | |||||||||||||||||||||||||||||
Real estate - commercial | 308 | 28 | 3,244 | 2 | |||||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | |||||||||||||||||||||||||||||
Commercial | 807 | - | 751 | - | |||||||||||||||||||||||||||||
Agricultural | 24 | - | 6 | - | |||||||||||||||||||||||||||||
Consumer and other | 38 | - | 5 | - | |||||||||||||||||||||||||||||
$ | 2,303 | $ | 33 | $ | 6,636 | $ | 2 | ||||||||||||||||||||||||||
Troubled debt restructuring | ' | ||||||||||||||||||||||||||||||||
The following table sets forth information on the Company’s TDRs, on a disaggregated basis, occurring in the three months ended March 31, 2014 and 2013: (dollars in thousands) | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | ||||||||||||||||||||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | ||||||||||||||||||||||||||||
Real estate - construction | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||||||
Real estate - 1 to 4 family residential | - | - | - | - | - | - | |||||||||||||||||||||||||||
Real estate - commercial | 1 | 43 | 43 | - | - | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||||
Commercial | - | - | - | - | - | - | |||||||||||||||||||||||||||
Agricultural | 1 | 19 | 19 | - | - | - | |||||||||||||||||||||||||||
Consumer and other | 1 | 6 | 6 | - | - | - | |||||||||||||||||||||||||||
3 | $ | 68 | $ | 68 | - | $ | - | $ | - | ||||||||||||||||||||||||
Aging analysis of the recorded investment in loans | ' | ||||||||||||||||||||||||||||||||
An aging analysis of the recorded investments in loans, on a disaggregated basis, as of March 31, 2014 and December 31, 2013, is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
90 Days | 90 Days | ||||||||||||||||||||||||||||||||
30-89 | or Greater | Total | or Greater | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | Accruing | ||||||||||||||||||||||||||||
Real estate - construction | $ | - | $ | - | $ | - | $ | 25,793 | $ | 25,793 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 728 | 266 | 994 | 111,312 | 112,306 | - | |||||||||||||||||||||||||||
Real estate - commercial | 72 | 46 | 118 | 198,790 | 198,908 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | 52,234 | 52,234 | - | |||||||||||||||||||||||||||
Commercial | 101 | 24 | 125 | 83,394 | 83,519 | - | |||||||||||||||||||||||||||
Agricultural | 617 | - | 617 | 71,257 | 71,874 | - | |||||||||||||||||||||||||||
Consumer and other | 281 | - | 281 | 12,236 | 12,517 | - | |||||||||||||||||||||||||||
$ | 1,799 | $ | 336 | $ | 2,135 | $ | 555,016 | $ | 557,151 | $ | - | ||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
90 Days | 90 Days | ||||||||||||||||||||||||||||||||
30-89 | or Greater | Total | or Greater | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | Accruing | ||||||||||||||||||||||||||||
Real estate - construction | $ | - | $ | - | $ | - | $ | 23,928 | $ | 23,928 | $ | - | |||||||||||||||||||||
Real estate - 1 to 4 family residential | 1,059 | 4,000 | 5,059 | 103,230 | 108,289 | 27 | |||||||||||||||||||||||||||
Real estate - commercial | - | 46 | 46 | 206,066 | 206,112 | - | |||||||||||||||||||||||||||
Real estate - agricultural | - | - | - | 53,834 | 53,834 | - | |||||||||||||||||||||||||||
Commercial | 88 | 375 | 463 | 86,360 | 86,823 | - | |||||||||||||||||||||||||||
Agricultural | - | - | - | 81,326 | 81,326 | - | |||||||||||||||||||||||||||
Consumer and other | 35 | - | 35 | 12,760 | 12,795 | - | |||||||||||||||||||||||||||
$ | 1,182 | $ | 4,421 | $ | 5,603 | $ | 567,504 | $ | 573,107 | $ | 27 | ||||||||||||||||||||||
Credit risk profile by internally assigned grade | ' | ||||||||||||||||||||||||||||||||
The credit risk profile by internally assigned grade, on a disaggregated basis, at March 31, 2014 and December 31, 2013 is as follows: (in thousands) | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
Construction | Commercial | Agricultural | |||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Agricultural | Total | ||||||||||||||||||||||||||||
Pass | $ | 19,810 | $ | 167,072 | $ | 49,775 | $ | 72,224 | $ | 70,171 | $ | 379,052 | |||||||||||||||||||||
Watch | 2,964 | 20,571 | 2,346 | 9,080 | 1,339 | 36,300 | |||||||||||||||||||||||||||
Special Mention | - | 746 | - | - | 90 | 836 | |||||||||||||||||||||||||||
Substandard | 2,523 | 10,429 | 113 | 1,419 | 251 | 14,735 | |||||||||||||||||||||||||||
Substandard-Impaired | 496 | 90 | - | 796 | 23 | 1,405 | |||||||||||||||||||||||||||
$ | 25,793 | $ | 198,908 | $ | 52,234 | $ | 83,519 | $ | 71,874 | $ | 432,328 | ||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
Construction | Commercial | Agricultural | |||||||||||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Agricultural | Total | ||||||||||||||||||||||||||||
Pass | $ | 16,887 | $ | 169,659 | $ | 51,486 | $ | 73,073 | $ | 78,476 | $ | 389,581 | |||||||||||||||||||||
Watch | 3,545 | 20,267 | 2,051 | 10,717 | 1,963 | 38,543 | |||||||||||||||||||||||||||
Special Mention | - | 798 | - | 796 | 9 | 1,603 | |||||||||||||||||||||||||||
Substandard | 2,986 | 14,862 | 297 | 1,421 | 854 | 20,420 | |||||||||||||||||||||||||||
Substandard-Impaired | 510 | 526 | - | 816 | 24 | 1,876 | |||||||||||||||||||||||||||
$ | 23,928 | $ | 206,112 | $ | 53,834 | $ | 86,823 | $ | 81,326 | $ | 452,023 | ||||||||||||||||||||||
Credit risk profile based on payment activity on disaggregated basis | ' | ||||||||||||||||||||||||||||||||
The credit risk profile based on payment activity, on a disaggregated basis, at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Residential | Consumer | ||||||||||||||||||||||||||||||||
Real Estate | and Other | Total | |||||||||||||||||||||||||||||||
Performing | $ | 111,845 | $ | 12,504 | $ | 124,349 | |||||||||||||||||||||||||||
Non-performing | 461 | 13 | 474 | ||||||||||||||||||||||||||||||
$ | 112,306 | $ | 12,517 | $ | 124,823 | ||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Residential | Consumer | ||||||||||||||||||||||||||||||||
Real Estate | and Other | Total | |||||||||||||||||||||||||||||||
Performing | $ | 107,667 | $ | 12,740 | $ | 120,407 | |||||||||||||||||||||||||||
Non-performing | 623 | 55 | 678 | ||||||||||||||||||||||||||||||
$ | 108,290 | $ | 12,795 | $ | 121,085 |
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Other Real Estate Owned [Abstract] | ' | ||||||||
Schedule of composition of other real estate owned | ' | ||||||||
The following table provides the composition of other real estate owned as of March 31, 2014 and December 31, 2013: | |||||||||
2014 | 2013 | ||||||||
Construction and land development | $ | 6,750,503 | $ | 6,750,503 | |||||
1 to 4 family residential real estate | 1,315,587 | 1,296,227 | |||||||
Commercial real estate | 814,377 | 814,377 | |||||||
$ | 8,880,467 | $ | 8,861,107 |
Core_deposit_intangible_asset_
Core deposit intangible asset (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Core deposit intangible asset [Abstract] | ' | ||||||||||||||||
Schedule of carrying amounts and accumulated amortization of core deposit intangible assets | ' | ||||||||||||||||
In conjunction with the 2012 acquisition mentioned in Note 10, the Corporation recorded a $1.5 million core deposit intangible asset. The following sets forth the carrying amounts and accumulated amortization of core deposit intangible assets at March 31, 2014 and December 31, 2013: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Gross | Accumulated | Gross | Accumulated | ||||||||||||||
Amount | Amortization | Amount | Amortization | ||||||||||||||
Core deposit intangible asset | $ | 1,500,000 | $ | 536,184 | $ | 1,500,000 | $ | 470,436 | |||||||||
Schedule of estimated amortization expense on core deposit intangible | ' | ||||||||||||||||
Estimated remaining amortization expense on core deposit intangible for the years ending is as follows: | |||||||||||||||||
2014 | $ | 178,252 | |||||||||||||||
2015 | 217,500 | ||||||||||||||||
2016 | 193,864 | ||||||||||||||||
2017 | 172,768 | ||||||||||||||||
2018 | 152,732 | ||||||||||||||||
2019 | 48,700 | ||||||||||||||||
$ | 963,816 |
Dividends_Details
Dividends (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Dividends [Abstract] | ' | ' |
Dividends declared date | 11-Feb-14 | ' |
Dividends payable, date to be paid | 15-May-14 | ' |
Dividends payable, date of record | 1-May-14 | ' |
Cash dividends declared per share (in dollars per share) | $0.18 | $0.16 |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Weighted average outstanding shares (in shares) | 9,310,913 | 9,310,913 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | $600,831,476 | $580,039,080 |
Assets measured at fair value on nonrecurring basis [Abstract] | ' | ' |
Valuation allowance | 4,644,000 | 4,644,000 |
US government agencies [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 86,395,850 | 61,177,791 |
U.S. government mortgage-backed securities [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 150,010,305 | 155,141,956 |
State and political subdivisions [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 314,176,431 | 315,224,133 |
Corporate bonds [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 46,460,490 | 44,751,700 |
Equity securities, financial industry common stock [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 775,800 | 840,900 |
Equity securities, other [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 3,012,600 | 2,902,600 |
Recurring [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 600,831,000 | 580,039,000 |
Recurring [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 776,000 | 841,000 |
Recurring [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 600,055,000 | 579,198,000 |
Recurring [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | US government agencies [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 86,396,000 | 61,178,000 |
Recurring [Member] | US government agencies [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | US government agencies [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 86,396,000 | 61,178,000 |
Recurring [Member] | US government agencies [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | U.S. government mortgage-backed securities [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 150,010,000 | 155,142,000 |
Recurring [Member] | U.S. government mortgage-backed securities [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | U.S. government mortgage-backed securities [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 150,010,000 | 155,142,000 |
Recurring [Member] | U.S. government mortgage-backed securities [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | State and political subdivisions [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 314,176,000 | 315,224,000 |
Recurring [Member] | State and political subdivisions [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | State and political subdivisions [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 314,176,000 | 315,224,000 |
Recurring [Member] | State and political subdivisions [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Corporate bonds [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 46,460,000 | 44,752,000 |
Recurring [Member] | Corporate bonds [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Corporate bonds [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 46,460,000 | 44,752,000 |
Recurring [Member] | Corporate bonds [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Equity securities, financial industry common stock [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 776,000 | 841,000 |
Recurring [Member] | Equity securities, financial industry common stock [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 776,000 | 841,000 |
Recurring [Member] | Equity securities, financial industry common stock [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Equity securities, financial industry common stock [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Equity securities, other [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 3,013,000 | 2,902,000 |
Recurring [Member] | Equity securities, other [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Recurring [Member] | Equity securities, other [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 3,013,000 | 2,902,000 |
Recurring [Member] | Equity securities, other [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on a recurring basis [Abstract] | ' | ' |
Available-for-sale securities | 0 | 0 |
Nonrecurring [Member] | ' | ' |
Assets measured at fair value on nonrecurring basis [Abstract] | ' | ' |
Loans receivable | 752,000 | 648,000 |
Other real estate owned | 8,880,000 | 8,861,000 |
Total | 9,632,000 | 9,509,000 |
Nonrecurring [Member] | Level 1 [Member] | ' | ' |
Assets measured at fair value on nonrecurring basis [Abstract] | ' | ' |
Loans receivable | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Nonrecurring [Member] | Level 2 [Member] | ' | ' |
Assets measured at fair value on nonrecurring basis [Abstract] | ' | ' |
Loans receivable | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Nonrecurring [Member] | Level 3 [Member] | ' | ' |
Assets measured at fair value on nonrecurring basis [Abstract] | ' | ' |
Loans receivable | 752,000 | 648,000 |
Other real estate owned | 8,880,000 | 8,861,000 |
Total | $9,632,000 | $9,509,000 |
Fair_Value_Measurements_Quanti
Fair Value Measurements, Quantitative Information (Details) (Nonrecurring [Member], USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2013 | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 9,632,000 | 9,509,000 | ||
Level 1 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 0 | 0 | ||
Level 2 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 0 | 0 | ||
Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 9,632,000 | 9,509,000 | ||
Impaired Loans [Member] | Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 752,000 | 648,000 | ||
Impaired Loans [Member] | Level 3 [Member] | Evaluation of collateral valuation technique [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Estimation of value (in hundredths) | ' | [1] | ' | [1] |
Other Real Estate Owned [Member] | Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Assets measured at fair value | 8,880,000 | 8,861,000 | ||
Other Real Estate Owned [Member] | Level 3 [Member] | Appraisal valuation technique [Member] | Minimum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Appraisal adjustment (in hundredths) | 6.00% | 6.00% | ||
Other Real Estate Owned [Member] | Level 3 [Member] | Appraisal valuation technique [Member] | Maximum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Appraisal adjustment (in hundredths) | 10.00% | 10.00% | ||
Other Real Estate Owned [Member] | Level 3 [Member] | Appraisal valuation technique [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Appraisal adjustment (in hundredths) | 8.00% | 8.00% | ||
[1] | Not Meaningful. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered included aging of receivables, condition of the collateral, potential market for the collateral and estimated disposal costs. These discounts will vary from loan to loan, thus providing a range would not be meaningful. |
Fair_Value_Measurements_Carryi
Fair Value Measurements, Carrying and Fair Value of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Financial assets [Abstract] | ' | ' |
Securities available-for-sale | $600,831,476 | $580,039,080 |
Financial liabilities [Abstract] | ' | ' |
Other long-term borrowings | 20,000,000 | 20,000,000 |
Carrying Amount [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Securities available-for-sale | 600,831,476 | 580,039,080 |
Carrying Amount [Member] | Level 1 [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and due from banks | 30,409,845 | 24,270,031 |
Interest bearing deposits | 40,366,808 | 23,628,117 |
Accrued income receivable | 7,432,502 | 7,437,673 |
Financial liabilities [Abstract] | ' | ' |
Securities sold under agreements to repurchase | 39,910,174 | 39,616,644 |
Accrued interest payable | 543,656 | 594,223 |
Carrying Amount [Member] | Level 2 [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Loans receivable, net | 548,545,071 | 564,501,547 |
Loans held for sale | 0 | 295,618 |
Financial liabilities [Abstract] | ' | ' |
Deposits | 1,027,793,013 | 1,011,803,178 |
FHLB advances | 16,722,546 | 14,540,526 |
Other long-term borrowings | 20,000,000 | 20,000,000 |
Fair Value [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Securities available-for-sale | 600,831,000 | 580,039,000 |
Fair Value [Member] | Level 1 [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Cash and due from banks | 30,410,000 | 24,270,000 |
Interest bearing deposits | 40,367,000 | 23,628,000 |
Accrued income receivable | 7,433,000 | 7,438,000 |
Financial liabilities [Abstract] | ' | ' |
Securities sold under agreements to repurchase | 39,910,000 | 39,617,000 |
Accrued interest payable | 544,000 | 594,000 |
Fair Value [Member] | Level 2 [Member] | ' | ' |
Financial assets [Abstract] | ' | ' |
Loans receivable, net | 548,149,000 | 562,073,000 |
Loans held for sale | 0 | 296,000 |
Financial liabilities [Abstract] | ' | ' |
Deposits | 1,029,998,781 | 1,014,150,000 |
FHLB advances | 17,577,000 | 15,441,000 |
Other long-term borrowings | $21,754,000 | $22,033,000 |
Debt_and_Equity_Securities_Det
Debt and Equity Securities (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | $596,573,499 | ' | $579,322,997 |
Gross Unrealized Gains | 10,306,770 | ' | 9,986,793 |
Gross Unrealized Losses | -6,048,793 | ' | -9,270,710 |
Fair Value | 600,831,476 | ' | 580,039,080 |
Proceeds, gains and losses from securities available-for-sale securities [Abstract] | ' | ' | ' |
Proceeds from sale of securities available-for-sale | 3,478,851 | 1,701,395 | ' |
Gross realized gains on securities available-for-sale | 135,081 | 70,502 | ' |
Gross realized losses on securities available-for-sale | 0 | 1,511 | ' |
Tax provision applicable to net realized gains on securities available-for-sale | 50,000 | 26,000 | ' |
Unrealized losses and fair value [Abstract] | ' | ' | ' |
Fair Value, Less than 12 Months | 191,880,200 | ' | 224,489,193 |
Fair Value, 12 Months or More | 38,275,455 | ' | 27,008,405 |
Fair Value, Total | 230,155,655 | ' | 251,497,598 |
Unrealized Losses, Less than 12 Months | -4,086,266 | ' | -7,166,985 |
Unrealized Losses, 12 Months or More | -1,962,527 | ' | -2,103,725 |
Unrealized Losses, Total | -6,048,793 | ' | -9,270,710 |
U.S. government agencies [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 86,250,287 | ' | 61,569,302 |
Gross Unrealized Gains | 1,179,941 | ' | 1,116,644 |
Gross Unrealized Losses | -1,034,378 | ' | -1,508,155 |
Fair Value | 86,395,850 | ' | 61,177,791 |
Unrealized losses and fair value [Abstract] | ' | ' | ' |
Fair Value, Less than 12 Months | 35,509,515 | ' | 31,806,447 |
Fair Value, 12 Months or More | 0 | ' | 0 |
Fair Value, Total | 35,509,515 | ' | 31,806,447 |
Unrealized Losses, Less than 12 Months | -1,034,378 | ' | -1,508,155 |
Unrealized Losses, 12 Months or More | 0 | ' | 0 |
Unrealized Losses, Total | -1,034,378 | ' | -1,508,155 |
U.S. government mortgage-backed securities [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 147,744,732 | ' | 153,857,058 |
Gross Unrealized Gains | 2,970,908 | ' | 2,846,821 |
Gross Unrealized Losses | -705,335 | ' | -1,561,923 |
Fair Value | 150,010,305 | ' | 155,141,956 |
Unrealized losses and fair value [Abstract] | ' | ' | ' |
Fair Value, Less than 12 Months | 52,185,115 | ' | 71,326,568 |
Fair Value, 12 Months or More | 2,679,015 | ' | 2,771,874 |
Fair Value, Total | 54,864,130 | ' | 74,098,442 |
Unrealized Losses, Less than 12 Months | -653,242 | ' | -1,479,321 |
Unrealized Losses, 12 Months or More | -52,093 | ' | -82,602 |
Unrealized Losses, Total | -705,335 | ' | -1,561,923 |
State and political subdivisions [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 311,717,311 | ' | 314,177,458 |
Gross Unrealized Gains | 5,278,009 | ' | 5,055,906 |
Gross Unrealized Losses | -2,818,889 | ' | -4,009,231 |
Fair Value | 314,176,431 | ' | 315,224,133 |
Unrealized losses and fair value [Abstract] | ' | ' | ' |
Fair Value, Less than 12 Months | 88,082,052 | ' | 99,974,091 |
Fair Value, 12 Months or More | 20,322,416 | ' | 15,438,484 |
Fair Value, Total | 108,404,468 | ' | 115,412,575 |
Unrealized Losses, Less than 12 Months | -1,925,797 | ' | -3,028,851 |
Unrealized Losses, 12 Months or More | -893,092 | ' | -980,380 |
Unrealized Losses, Total | -2,818,889 | ' | -4,009,231 |
Corporate bonds [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 47,218,869 | ' | 46,186,879 |
Gross Unrealized Gains | 731,812 | ' | 756,222 |
Gross Unrealized Losses | -1,490,191 | ' | -2,191,401 |
Fair Value | 46,460,490 | ' | 44,751,700 |
Unrealized losses and fair value [Abstract] | ' | ' | ' |
Fair Value, Less than 12 Months | 16,103,518 | ' | 21,382,087 |
Fair Value, 12 Months or More | 15,274,024 | ' | 8,798,047 |
Fair Value, Total | 31,377,542 | ' | 30,180,134 |
Unrealized Losses, Less than 12 Months | -472,849 | ' | -1,150,658 |
Unrealized Losses, 12 Months or More | -1,017,342 | ' | -1,040,743 |
Unrealized Losses, Total | -1,490,191 | ' | -2,191,401 |
Equity securities, financial industry common stock [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 629,700 | ' | 629,700 |
Gross Unrealized Gains | 146,100 | ' | 211,200 |
Gross Unrealized Losses | 0 | ' | 0 |
Fair Value | 775,800 | ' | 840,900 |
Equity securities, other [Member] | ' | ' | ' |
Amortized cost of securities available for sale and their fair values [Abstract] | ' | ' | ' |
Amortized Cost | 3,012,600 | ' | 2,902,600 |
Gross Unrealized Gains | 0 | ' | 0 |
Gross Unrealized Losses | 0 | ' | 0 |
Fair Value | $3,012,600 | ' | $2,902,600 |
Loans_Receivable_and_Credit_Di2
Loans Receivable and Credit Disclosures, Allowance for loan losses (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | $8,572 | $7,773 | ' |
Provision (credit) for loan losses | 39 | 14 | ' |
Recoveries of loans charged-off | 10 | 26 | ' |
Loans charged-off | -53 | -27 | ' |
Ending, Balance | 8,568 | 7,786 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 446 | ' | 477 |
Collectively evaluated for impairment | 8,122 | ' | 8,095 |
Balance | 8,568 | ' | 8,572 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 1,880 | ' | 2,721 |
Collectively evaluated for impairment | 555,271 | ' | 570,386 |
Balance | 557,151 | ' | 573,107 |
Construction Real Estate [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 392 | 375 | ' |
Provision (credit) for loan losses | 48 | -49 | ' |
Recoveries of loans charged-off | 0 | 0 | ' |
Loans charged-off | 0 | 0 | ' |
Ending, Balance | 440 | 326 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 440 | ' | 392 |
Balance | 440 | ' | 392 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 496 | ' | 510 |
Collectively evaluated for impairment | 25,297 | ' | 23,418 |
Balance | 25,793 | ' | 23,928 |
1-4 Family Residential Real Estate [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 1,523 | 1,433 | ' |
Provision (credit) for loan losses | 18 | 61 | ' |
Recoveries of loans charged-off | 4 | 21 | ' |
Loans charged-off | -5 | -23 | ' |
Ending, Balance | 1,540 | 1,492 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 122 | ' | 122 |
Collectively evaluated for impairment | 1,418 | ' | 1,401 |
Balance | 1,540 | ' | 1,523 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 461 | ' | 784 |
Collectively evaluated for impairment | 111,845 | ' | 107,506 |
Balance | 112,306 | ' | 108,290 |
Commercial Real Estate [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 3,230 | 2,859 | ' |
Provision (credit) for loan losses | -31 | 216 | ' |
Recoveries of loans charged-off | 0 | 0 | ' |
Loans charged-off | 0 | 0 | ' |
Ending, Balance | 3,199 | 3,075 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 20 | ' | 20 |
Collectively evaluated for impairment | 3,179 | ' | 3,210 |
Balance | 3,199 | ' | 3,230 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 90 | ' | 526 |
Collectively evaluated for impairment | 198,818 | ' | 205,585 |
Balance | 198,908 | ' | 206,111 |
Agriculture Real Estate [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 686 | 523 | ' |
Provision (credit) for loan losses | 45 | 1 | ' |
Recoveries of loans charged-off | 0 | 0 | ' |
Loans charged-off | 0 | 0 | ' |
Ending, Balance | 731 | 524 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 731 | ' | 686 |
Balance | 731 | ' | 686 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 52,234 | ' | 53,834 |
Balance | 52,234 | ' | 53,834 |
Commercial [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 1,435 | 1,461 | ' |
Provision (credit) for loan losses | -31 | -157 | ' |
Recoveries of loans charged-off | 1 | 1 | ' |
Loans charged-off | 0 | 0 | ' |
Ending, Balance | 1,405 | 1,305 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 300 | ' | 330 |
Collectively evaluated for impairment | 1,105 | ' | 1,105 |
Balance | 1,405 | ' | 1,435 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 796 | ' | 816 |
Collectively evaluated for impairment | 82,723 | ' | 86,007 |
Balance | 83,519 | ' | 86,823 |
Agriculture [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 1,165 | 945 | ' |
Provision (credit) for loan losses | -58 | -41 | ' |
Recoveries of loans charged-off | 0 | 0 | ' |
Loans charged-off | 0 | 0 | ' |
Ending, Balance | 1,107 | 904 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 4 | ' | 5 |
Collectively evaluated for impairment | 1,103 | ' | 1,160 |
Balance | 1,107 | ' | 1,165 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 23 | ' | 24 |
Collectively evaluated for impairment | 71,851 | ' | 81,302 |
Balance | 71,874 | ' | 81,326 |
Consumer and Other [Member] | ' | ' | ' |
Allowance for loan losses on disaggregated basis [Abstract] | ' | ' | ' |
Beginning, Balance | 141 | 177 | ' |
Provision (credit) for loan losses | 48 | -17 | ' |
Recoveries of loans charged-off | 5 | 4 | ' |
Loans charged-off | -48 | -4 | ' |
Ending, Balance | 146 | 160 | ' |
Allowance for loan losses disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 146 | ' | 141 |
Balance | 146 | ' | 141 |
Loans receivable disaggregated on basis of impairment analysis method [Abstract] | ' | ' | ' |
Individually evaluated for impairment | 14 | ' | 61 |
Collectively evaluated for impairment | 12,503 | ' | 12,734 |
Balance | $12,517 | ' | $12,795 |
Loans_Receivable_and_Credit_Di3
Loans Receivable and Credit Disclosures, Impaired Loans (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | $682,000 | ' | $1,596,000 |
Recorded Investment, With related allowance | 1,198,000 | ' | 1,125,000 |
Recorded Investment, Total | 1,880,000 | ' | 2,721,000 |
Unpaid Principal Balance, With no related allowance | 682,000 | ' | 1,596,000 |
Unpaid Principal Balance, With related allowance | 1,198,000 | ' | 1,125,000 |
Unpaid Principal Balance, Total | 1,880,000 | ' | 2,721,000 |
Related Allowance, Total | 446,000 | ' | 477,000 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 1,139,000 | 2,768,000 | ' |
Average recorded investment, with related allowance | 1,164,000 | 3,868,000 | ' |
Average recorded investment, total | 2,303,000 | 6,636,000 | ' |
Interest income recognized, with no related allowance | 33,000 | 2,000 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 33,000 | 2,000 | ' |
Interest foregone on nonaccrual loan | 37,000 | 85,000 | ' |
Troubled debt restructuring loans | 1,223,000 | ' | 1,424,000 |
Real Estate - Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 496,000 | ' | 510,000 |
Recorded Investment, With related allowance | 0 | ' | 0 |
Recorded Investment, Total | 496,000 | ' | 510,000 |
Unpaid Principal Balance, With no related allowance | 496,000 | ' | 510,000 |
Unpaid Principal Balance, With related allowance | 0 | ' | 0 |
Unpaid Principal Balance, Total | 496,000 | ' | 510,000 |
Related Allowance, Total | 0 | ' | 0 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 503,000 | 1,033,000 | ' |
Average recorded investment, with related allowance | 0 | 431,000 | ' |
Average recorded investment, total | 503,000 | 1,464,000 | ' |
Interest income recognized, with no related allowance | 0 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 0 | 0 | ' |
Real Estate - 1 to 4 Family Residential [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 65,000 | ' | 483,000 |
Recorded Investment, With related allowance | 396,000 | ' | 301,000 |
Recorded Investment, Total | 461,000 | ' | 784,000 |
Unpaid Principal Balance, With no related allowance | 65,000 | ' | 483,000 |
Unpaid Principal Balance, With related allowance | 396,000 | ' | 301,000 |
Unpaid Principal Balance, Total | 461,000 | ' | 784,000 |
Related Allowance, Total | 122,000 | ' | 122,000 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 274,000 | 660,000 | ' |
Average recorded investment, with related allowance | 349,000 | 506,000 | ' |
Average recorded investment, total | 623,000 | 1,166,000 | ' |
Interest income recognized, with no related allowance | 5,000 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 5,000 | 0 | ' |
Real Estate - Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 44,000 | ' | 480,000 |
Recorded Investment, With related allowance | 46,000 | ' | 46,000 |
Recorded Investment, Total | 90,000 | ' | 526,000 |
Unpaid Principal Balance, With no related allowance | 44,000 | ' | 480,000 |
Unpaid Principal Balance, With related allowance | 46,000 | ' | 46,000 |
Unpaid Principal Balance, Total | 90,000 | ' | 526,000 |
Related Allowance, Total | 20,000 | ' | 20,000 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 262,000 | 996,000 | ' |
Average recorded investment, with related allowance | 46,000 | 2,248,000 | ' |
Average recorded investment, total | 308,000 | 3,244,000 | ' |
Interest income recognized, with no related allowance | 28,000 | 2,000 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 28,000 | 2,000 | ' |
Real Estate - Agricultural [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 0 | ' | 0 |
Recorded Investment, With related allowance | 0 | ' | 0 |
Recorded Investment, Total | 0 | ' | 0 |
Unpaid Principal Balance, With no related allowance | 0 | ' | 0 |
Unpaid Principal Balance, With related allowance | 0 | ' | 0 |
Unpaid Principal Balance, Total | 0 | ' | 0 |
Related Allowance, Total | 0 | ' | 0 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 0 | 0 | ' |
Average recorded investment, with related allowance | 0 | 0 | ' |
Average recorded investment, total | 0 | 0 | ' |
Interest income recognized, with no related allowance | 0 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 0 | 0 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 44,000 | ' | 43,000 |
Recorded Investment, With related allowance | 752,000 | ' | 773,000 |
Recorded Investment, Total | 796,000 | ' | 816,000 |
Unpaid Principal Balance, With no related allowance | 44,000 | ' | 43,000 |
Unpaid Principal Balance, With related allowance | 752,000 | ' | 773,000 |
Unpaid Principal Balance, Total | 796,000 | ' | 816,000 |
Related Allowance, Total | 300,000 | ' | 330,000 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 43,000 | 75,000 | ' |
Average recorded investment, with related allowance | 764,000 | 676,000 | ' |
Average recorded investment, total | 807,000 | 751,000 | ' |
Interest income recognized, with no related allowance | 0 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 0 | 0 | ' |
Agriculture [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 19,000 | ' | 19,000 |
Recorded Investment, With related allowance | 4,000 | ' | 5,000 |
Recorded Investment, Total | 23,000 | ' | 24,000 |
Unpaid Principal Balance, With no related allowance | 19,000 | ' | 19,000 |
Unpaid Principal Balance, With related allowance | 4,000 | ' | 5,000 |
Unpaid Principal Balance, Total | 23,000 | ' | 24,000 |
Related Allowance, Total | 4,000 | ' | 5,000 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 19,000 | 0 | ' |
Average recorded investment, with related allowance | 5,000 | 6,000 | ' |
Average recorded investment, total | 24,000 | 6,000 | ' |
Interest income recognized, with no related allowance | 0 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 0 | 0 | ' |
Consumer and Other [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment, With no related allowance | 14,000 | ' | 61,000 |
Recorded Investment, With related allowance | 0 | ' | 0 |
Recorded Investment, Total | 14,000 | ' | 61,000 |
Unpaid Principal Balance, With no related allowance | 14,000 | ' | 61,000 |
Unpaid Principal Balance, With related allowance | 0 | ' | 0 |
Unpaid Principal Balance, Total | 14,000 | ' | 61,000 |
Related Allowance, Total | 0 | ' | 0 |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Average recorded investment, with no related allowance | 38,000 | 4,000 | ' |
Average recorded investment, with related allowance | 0 | 1,000 | ' |
Average recorded investment, total | 38,000 | 5,000 | ' |
Interest income recognized, with no related allowance | 0 | 0 | ' |
Interest income recognized, with related allowance | 0 | 0 | ' |
Interest income recognized, total | 0 | 0 | ' |
Impaired loan [Member] | ' | ' | ' |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Troubled debt restructuring loans | 1,223,000 | ' | 1,237,000 |
Accrual loan [Member] | ' | ' | ' |
Average recorded investment and interest income recognized on impaired loans [Abstract] | ' | ' | ' |
Troubled debt restructuring loans | $1,223,000 | ' | $187,000 |
Loans_Receivable_and_Credit_Di4
Loans Receivable and Credit Disclosures, Troubled Debt Restructuring (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Loan | Loan | |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 3 | 0 |
Pre-Modification Outstanding Recorded Investment | $68,000 | $0 |
Post-Modification Outstanding Recorded Investment | 68,000 | 0 |
Number of restructured loans granting concessions | 2 | ' |
Number of troubled debt restructurings loans modified | 0 | 0 |
Troubled debt restructuring loans specific reserve | 0 | 0 |
Charge off | 44,000 | 0 |
Troubled debt restructuring loan payment default period | '60 days | ' |
Real Estate - Construction [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Real Estate - 1 to 4 Family Residential [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Real Estate - Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | 43,000 | 0 |
Post-Modification Outstanding Recorded Investment | 43,000 | 0 |
Real Estate - Agricultural [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Commercial [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Post-Modification Outstanding Recorded Investment | 0 | 0 |
Agriculture [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | 19,000 | 0 |
Post-Modification Outstanding Recorded Investment | 19,000 | 0 |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Contracts | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | 6,000 | 0 |
Post-Modification Outstanding Recorded Investment | $6,000 | $0 |
Loans_Receivable_and_Credit_Di5
Loans Receivable and Credit Disclosures, Aging Analysis (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | $1,799 | $1,182 |
90 Days or Greater Past Due | 336 | 4,421 |
Total Past Due | 2,135 | 5,603 |
Current | 555,016 | 567,504 |
Total | 557,151 | 573,107 |
90 Days or Greater Accruing | 0 | 27 |
Real Estate - Construction [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 0 | 0 |
90 Days or Greater Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 25,793 | 23,928 |
Total | 25,793 | 23,928 |
90 Days or Greater Accruing | 0 | 0 |
Real Estate - 1 to 4 Family Residential [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 728 | 1,059 |
90 Days or Greater Past Due | 266 | 4,000 |
Total Past Due | 994 | 5,059 |
Current | 111,312 | 103,230 |
Total | 112,306 | 108,289 |
90 Days or Greater Accruing | 0 | 27 |
Real Estate - Commercial [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 72 | 0 |
90 Days or Greater Past Due | 46 | 46 |
Total Past Due | 118 | 46 |
Current | 198,790 | 206,066 |
Total | 198,908 | 206,112 |
90 Days or Greater Accruing | 0 | 0 |
Real Estate - Agricultural [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 0 | 0 |
90 Days or Greater Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 52,234 | 53,834 |
Total | 52,234 | 53,834 |
90 Days or Greater Accruing | 0 | 0 |
Commercial [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 101 | 88 |
90 Days or Greater Past Due | 24 | 375 |
Total Past Due | 125 | 463 |
Current | 83,394 | 86,360 |
Total | 83,519 | 86,823 |
90 Days or Greater Accruing | 0 | 0 |
Agriculture [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 617 | 0 |
90 Days or Greater Past Due | 0 | 0 |
Total Past Due | 617 | 0 |
Current | 71,257 | 81,326 |
Total | 71,874 | 81,326 |
90 Days or Greater Accruing | 0 | 0 |
Consumer and Other [Member] | ' | ' |
Aging analysis of recorded investments in loans on disaggregated basis [Line Items] | ' | ' |
30-89 Past Due | 281 | 35 |
90 Days or Greater Past Due | 0 | 0 |
Total Past Due | 281 | 35 |
Current | 12,236 | 12,760 |
Total | 12,517 | 12,795 |
90 Days or Greater Accruing | $0 | $0 |
Loans_Receivable_and_Credit_Di6
Loans Receivable and Credit Disclosures, Credit Risk Profile (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | $432,328 | $452,023 |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 124,823 | 121,085 |
Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 379,052 | 389,581 |
Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 36,300 | 38,543 |
Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 836 | 1,603 |
Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 14,735 | 20,420 |
Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 1,405 | 1,876 |
Performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 124,349 | 120,407 |
Non-performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 474 | 678 |
Construction Real Estate [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 25,793 | 23,928 |
Construction Real Estate [Member] | Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 19,810 | 16,887 |
Construction Real Estate [Member] | Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 2,964 | 3,545 |
Construction Real Estate [Member] | Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 0 | 0 |
Construction Real Estate [Member] | Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 2,523 | 2,986 |
Construction Real Estate [Member] | Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 496 | 510 |
1-4 Family Residential Real Estate [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 112,306 | 108,290 |
1-4 Family Residential Real Estate [Member] | Performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 111,845 | 107,667 |
1-4 Family Residential Real Estate [Member] | Non-performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 461 | 623 |
Commercial Real Estate [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 198,908 | 206,112 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 167,072 | 169,659 |
Commercial Real Estate [Member] | Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 20,571 | 20,267 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 746 | 798 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 10,429 | 14,862 |
Commercial Real Estate [Member] | Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 90 | 526 |
Agriculture Real Estate [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 52,234 | 53,834 |
Agriculture Real Estate [Member] | Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 49,775 | 51,486 |
Agriculture Real Estate [Member] | Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 2,346 | 2,051 |
Agriculture Real Estate [Member] | Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 0 | 0 |
Agriculture Real Estate [Member] | Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 113 | 297 |
Agriculture Real Estate [Member] | Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 0 | 0 |
Commercial [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 83,519 | 86,823 |
Commercial [Member] | Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 72,224 | 73,073 |
Commercial [Member] | Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 9,080 | 10,717 |
Commercial [Member] | Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 0 | 796 |
Commercial [Member] | Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 1,419 | 1,421 |
Commercial [Member] | Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 796 | 816 |
Agriculture [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 71,874 | 81,326 |
Agriculture [Member] | Pass [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 70,171 | 78,476 |
Agriculture [Member] | Watch [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 1,339 | 1,963 |
Agriculture [Member] | Special Mention [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 90 | 9 |
Agriculture [Member] | Substandard [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 251 | 854 |
Agriculture [Member] | Substandard Impaired [Member] | ' | ' |
Credit risk profile by internally assigned grade disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable other than consumer and residential | 23 | 24 |
Consumer and Other [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 12,517 | 12,795 |
Consumer and Other [Member] | Performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | 12,504 | 12,740 |
Consumer and Other [Member] | Non-performing [Member] | ' | ' |
Credit risk profile based on payment activity on disaggregated basis [Abstract] | ' | ' |
Loan and lease receivable consumer and residential | $13 | $55 |
Other_Real_Estate_Owned_Detail
Other Real Estate Owned (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Summary of composition of other real estate owned [Abstract] | ' | ' |
Other real estate owned | $8,880,467 | $8,861,107 |
Construction and Land Development [Member] | ' | ' |
Summary of composition of other real estate owned [Abstract] | ' | ' |
Other real estate owned | 6,750,503 | 6,750,503 |
1 to 4 Family Residential Houses [Member] | ' | ' |
Summary of composition of other real estate owned [Abstract] | ' | ' |
Other real estate owned | 1,315,587 | 1,296,227 |
Commercial Real Estate [Member] | ' | ' |
Summary of composition of other real estate owned [Abstract] | ' | ' |
Other real estate owned | $814,377 | $814,377 |
Goodwill_Details
Goodwill (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Goodwill [Abstract] | ' |
Goodwill tax amortized period | '15 years |
Core_deposit_intangible_asset_1
Core deposit intangible asset (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Summary of carrying amounts and accumulated amortization of core deposit intangible assets [Abstract] | ' | ' | ' |
Gross Amount | $1,500,000 | ' | $1,500,000 |
Accumulated Amortization | 536,184 | ' | 470,436 |
Additional intangible assets acquired during the period | 0 | 0 | ' |
Amortization expense on core deposit intangible assets | 65,748 | 73,773 | ' |
Schedule of estimated amortization expense on core deposit intangible [Abstract] | ' | ' | ' |
2014 | 178,252 | ' | ' |
2015 | 217,500 | ' | ' |
2016 | 193,864 | ' | ' |
2017 | 172,768 | ' | ' |
2018 | 152,732 | ' | ' |
2019 | 48,700 | ' | ' |
Total | $963,816 | ' | $1,029,564 |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], First National Bank [Member], USD $) | Apr. 30, 2014 |
Subsequent Event [Member] | First National Bank [Member] | ' |
Subsequent Event [Line Items] | ' |
Percentage of ownership interest in subsidiary (in hundredths) | 100.00% |
Business acquisition, cost of acquired entity | $4,700,000 |