Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 06, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'LANDMARK BANCORP INC | ' |
Entity Central Index Key | '0001141688 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'LARK | ' |
Entity Common Stock, Shares Outstanding | ' | 3,174,799 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2014 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $13,365 | $29,735 |
Investment securities: | ' | ' |
Available-for-sale, at fair value | 335,809 | 300,246 |
Other securities | 4,385 | 5,271 |
Loans, net | 415,864 | 414,016 |
Loans held for sale, net | 10,233 | 7,864 |
Premises and equipment, net | 20,657 | 20,634 |
Bank owned life insurance | 17,725 | 17,342 |
Goodwill | 17,532 | 17,532 |
Other intangible assets, net | 4,434 | 4,811 |
Real estate owned | 159 | 400 |
Accrued interest and other assets | 11,700 | 10,904 |
Total assets | 851,863 | 828,755 |
Deposits: | ' | ' |
Non-interest-bearing demand | 136,198 | 124,480 |
Money market and NOW | 301,946 | 307,014 |
Savings | 73,805 | 69,797 |
Time, $100,000 and greater | 61,803 | 60,242 |
Time, other | 114,583 | 125,953 |
Total deposits | 688,335 | 687,486 |
Federal Home Loan Bank borrowings | 49,662 | 35,689 |
Other borrowings | 33,642 | 33,055 |
Accrued interest, taxes, and other liabilities | 10,182 | 9,833 |
Total liabilities | 781,821 | 766,063 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.01 par value per share, 7,500,000 shares authorized; 3,174,971 and 3,140,577 shares issued at September 30, 2014 and December 31, 2013, respectively | 32 | 31 |
Additional paid-in capital | 36,961 | 36,400 |
Retained earnings | 31,330 | 27,187 |
Treasury stock, at cost: 172 and 0 shares at September 30, 2014 and December 31, 2013, respectively | 0 | 0 |
Accumulated other comprehensive income (loss) | 1,719 | -926 |
Total stockholders' equity | 70,042 | 62,692 |
Total liabilities and stockholders' equity | $851,863 | $828,755 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 200,000 | 200,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 7,500,000 | 7,500,000 |
Common stock, shares issued | 3,174,971 | 3,140,577 |
Treasury Stock, Shares | 172 | 0 |
CONSOLIDATED_STATEMENTS_OF_EAR
CONSOLIDATED STATEMENTS OF EARNINGS (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Loans: | ' | ' | ' | ' | ||||
Taxable | $5,248 | $4,022 | $15,573 | $11,832 | ||||
Tax-exempt | 107 | 56 | 251 | 196 | ||||
Investment securities: | ' | ' | ' | ' | ||||
Taxable | 1,026 | 656 | 2,995 | 1,912 | ||||
Tax-exempt | 679 | 589 | 1,919 | 1,764 | ||||
Total interest income | 7,060 | 5,323 | 20,738 | 15,704 | ||||
Interest expense: | ' | ' | ' | ' | ||||
Deposits | 305 | 312 | 945 | 1,044 | ||||
Borrowings | 492 | 419 | 1,454 | 1,240 | ||||
Total interest expense | 797 | 731 | 2,399 | 2,284 | ||||
Net interest income | 6,263 | 4,592 | 18,339 | 13,420 | ||||
Provision for loan losses | 150 | 200 | 600 | 800 | ||||
Net interest income after provision for loan losses | 6,113 | 4,392 | 17,739 | 12,620 | ||||
Non-interest income: | ' | ' | ' | ' | ||||
Fees and service charges | 1,929 | 1,463 | 5,521 | 4,176 | ||||
Gains on sales of loans, net | 1,526 | 1,047 | 4,488 | 2,956 | ||||
Bank owned life insurance | 128 | 136 | 383 | 426 | ||||
Other | 271 | 133 | 845 | 398 | ||||
Total non-interest income | 3,854 | 2,779 | 11,237 | 7,956 | ||||
Gain (Loss) on Sale of Securities, Net | 0 | 0 | 39 | 0 | ||||
Non-interest expense: | ' | ' | ' | ' | ||||
Compensation and benefits | 3,607 | 2,544 | 10,585 | 7,450 | ||||
Occupancy and equipment | 1,120 | 763 | 3,327 | 2,198 | ||||
Acquisition costs | 0 | 176 | 0 | 176 | ||||
Professional fees | 228 | 217 | 843 | 699 | ||||
Amortization of intangibles | 339 | 238 | 974 | 478 | ||||
Data processing | 356 | 234 | 1,069 | 696 | ||||
Advertising | 126 | 107 | 346 | 321 | ||||
Federal deposit insurance premiums | 126 | 107 | 391 | 338 | ||||
Foreclosure and real estate owned expense | 40 | 246 | 71 | 305 | ||||
Other | 1,051 | 912 | 3,291 | 2,627 | ||||
Total non-interest expense | 6,993 | 5,544 | 20,897 | 15,288 | ||||
Earnings before income taxes | 2,974 | 1,627 | 8,118 | 5,288 | ||||
Income tax expense | 800 | 342 | 2,168 | 1,154 | ||||
Net earnings | $2,174 | $1,285 | $5,950 | $4,134 | ||||
Earnings per share: | ' | ' | ' | ' | ||||
Basic (in dollars per share) | $680 | [1],[2] | $420 | [1],[2] | $1,880 | [1],[2] | $1,340 | [1],[2] |
Diluted (in dollars per share) | $670 | [1],[2] | $410 | [1],[2] | $1,850 | [1],[2] | $1,320 | [1],[2] |
Dividends per share (in dollars per share) | $0.19 | [2] | $0.18 | [2] | $0.57 | [2] | $0.54 | [2] |
[1] | Share and per share values for the periods ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. | |||||||
[2] | Per share amounts for the period ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. |
CONSOLIDATED_STATEMENTS_OF_EAR1
CONSOLIDATED STATEMENTS OF EARNINGS [Parenthetical] | 9 Months Ended |
Sep. 30, 2014 | |
Percentage Of Stocks Dividend | 5.00% |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net earnings | $2,174 | $1,285 | $5,950 | $4,134 |
Net unrealized holding (losses) gains on available-for-sale securities | -416 | 103 | 4,232 | -4,568 |
Less reclassification adjustment for net gains included in earnings | 0 | 0 | -39 | 0 |
Net unrealized (losses) gains | -416 | 103 | 4,193 | -4,568 |
Income tax expense on net gains included in earnings | 0 | 0 | -14 | 0 |
Income tax (benefit) expense | -153 | 38 | 1,562 | -1,694 |
Other comprehensive (loss) income | -263 | 65 | 2,645 | -2,874 |
Total comprehensive income | $1,911 | $1,350 | $8,595 | $1,260 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | |||||
Balance at Dec. 31, 2012 | $63,333 | $29 | $32,223 | $27,623 | $3,458 |
Net earnings | 4,134 | 0 | 0 | 4,134 | 0 |
Comprehensive loss | -2,874 | 0 | 0 | 0 | -2,874 |
Dividends paid | -1,668 | 0 | 0 | -1,668 | 0 |
Stock-based compensation | 44 | 0 | 44 | 0 | 0 |
Exercise of stock options shares including excess tax benefit | 247 | 0 | 247 | 0 | 0 |
Balance at Sep. 30, 2013 | 63,216 | 29 | 32,514 | 30,089 | 584 |
Balance at Dec. 31, 2013 | 62,692 | 31 | 36,400 | 27,187 | -926 |
Net earnings | 5,950 | 0 | 0 | 5,950 | 0 |
Comprehensive loss | 2,645 | 0 | 0 | 0 | 2,645 |
Dividends paid | -1,807 | 0 | 0 | -1,807 | 0 |
Stock-based compensation | 54 | 0 | 54 | 0 | 0 |
Exercise of stock options shares including excess tax benefit | 508 | 1 | 507 | 0 | 0 |
Balance at Sep. 30, 2014 | $70,042 | $32 | $36,961 | $31,330 | $1,719 |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY [Parenthetical] (USD $) | 9 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | ||
Dividends per share (in dollars per share) | $0.57 | [1] | $0.54 | [1] |
Exercise of stock options (in shares) | 34,394 | 13,558 | ||
Excess tax benefit related to stock option plans (in dollars) | $14 | $29 | ||
[1] | Per share amounts for the period ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net earnings | $5,950 | $4,134 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 600 | 800 |
Provision for valuation allowance on real estate owned | 22 | 110 |
Amortization of investment security premiums, net | 1,304 | 1,130 |
Amortization of intangibles | 974 | 478 |
Depreciation | 833 | 694 |
Bank owned life insurance | -383 | -426 |
Stock-based compensation | 54 | 44 |
Deferred income taxes | -184 | -221 |
Gains on sales of investment securities, net | -39 | 0 |
(Gains) losses on sales of real estate owned, net | -32 | 146 |
Gains on sales of loans, net | -4,488 | -2,956 |
Proceeds from sales of loans held for sale | 156,403 | 124,667 |
Origination of loans held for sale | -154,873 | -119,113 |
Changes in assets and liabilities: | ' | ' |
Accrued interest and other assets | -2,664 | 877 |
Accrued expenses, taxes, and other liabilities | 518 | -851 |
Net cash provided by operating activities | 3,995 | 9,513 |
Cash flows from investing activities: | ' | ' |
Net increase in loans | -2,060 | -4,487 |
Maturities and prepayments of investment securities | 30,158 | 32,797 |
Purchases of investment securities | -63,930 | -58,070 |
Proceeds from sales of investment securities | 2,023 | 408 |
Proceeds from sales of real estate owned and premises and equipment | 338 | 1,929 |
Purchases of premises and equipment, net | -869 | -363 |
Net cash used in investing activities | -34,340 | -27,786 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 863 | 16,639 |
Federal Home Loan Bank advance borrowings | 55,767 | 81,100 |
Federal Home Loan Bank advance repayments | -41,794 | -83,828 |
Proceeds from other borrowings | 970 | 2,993 |
Repayments on other borrowings | -532 | 0 |
Proceeds from issuance of common stock under stock option plans | 494 | 218 |
Excess tax benefit related to stock option plans | 14 | 29 |
Payment of dividends | -1,807 | -1,668 |
Net cash provided by financing activities | 13,975 | 15,483 |
Net decrease in cash and cash equivalents | -16,370 | -2,790 |
Cash and cash equivalents at beginning of period | 29,735 | 14,920 |
Cash and cash equivalents at end of period | 13,365 | 12,130 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash payments for income taxes | 1,480 | 550 |
Cash paid for interest | 2,417 | 2,345 |
Supplemental schedule of noncash investing and financing activities: | ' | ' |
Transfer of loans to real estate owned | $101 | $196 |
Interim_Financial_Statements
Interim Financial Statements | 9 Months Ended | ||
Sep. 30, 2014 | |||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | ||
1 | Interim Financial Statements | ||
The consolidated financial statements of Landmark Bancorp, Inc. (the “Company”) and subsidiary have been prepared in accordance with the instructions to Form 10-Q. To the extent that information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements are contained in or consistent with the consolidated audited financial statements incorporated by reference in the Company’s Form 10-K for the year ended December 31, 2013, such information and footnotes have not been duplicated herein. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation of financial statements have been reflected herein. The results of the interim period ended September 30, 2014 are not necessarily indicative of the results expected for the year ending December 31, 2014. The Company has evaluated subsequent events for recognition and disclosure up to the date the financial statements were issued. | |||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||
2 | Goodwill and Other Intangible Assets | ||||||||||
The Company tests goodwill for impairment annually or more frequently if circumstances warrant. The Company’s annual step one impairment test as of December 31, 2013 concluded that its goodwill was not impaired; however, the Company can make no assurances that future impairment tests will not result in goodwill impairments. The Company concluded there were no triggering events during the first nine months of 2014 that required an interim goodwill impairment test. | |||||||||||
On November 1, 2013, the Company’s subsidiary, Landmark National Bank, assumed approximately $181.9 million in deposits in connection with the acquisition of Citizens Bank. The Company recorded a $1.7 million core deposit intangible asset in connection with the acquisition. Core deposit intangible assets are amortized over the estimated useful life of ten years on an accelerated basis. The Company also recorded a lease intangible asset of $350,000 relating to the leased portion of an acquired branch. Lease intangible assets are amortized over the life of the lease. A summary of the other intangible assets that continue to be subject to amortization is as follows: | |||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||
Gross carrying | Accumulated | Net carrying | |||||||||
amount | amortization | amount | |||||||||
Core deposit intangible assets | $ | 6,078 | $ | -4,368 | $ | 1,710 | |||||
Lease intangible asset | 350 | -41 | 309 | ||||||||
Mortgage servicing rights | 4,267 | -1,852 | 2,415 | ||||||||
Total other intangible assets | $ | 10,695 | $ | -6,261 | $ | 4,434 | |||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||
Gross carrying | Accumulated | Net carrying | |||||||||
amount | amortization | amount | |||||||||
Core deposit intangible assets | $ | 6,684 | $ | -4,592 | $ | 2,092 | |||||
Lease intangible asset | 350 | -8 | 342 | ||||||||
Mortgage servicing rights | 3,866 | -1,489 | 2,377 | ||||||||
Total other intangible assets | $ | 10,900 | $ | -6,089 | $ | 4,811 | |||||
The following sets forth estimated amortization expense for core deposit and lease intangible assets for the remainder of 2014 and in successive years ending December 31: | |||||||||||
(Dollars in thousands) | Amortization | ||||||||||
expense | |||||||||||
Remainder of 2014 | $ | 126 | |||||||||
2015 | 429 | ||||||||||
2016 | 327 | ||||||||||
2017 | 289 | ||||||||||
2018 | 252 | ||||||||||
Thereafter | 596 | ||||||||||
Total | $ | 2,019 | |||||||||
Investments
Investments | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||
Marketable Securities [Text Block] | ' | ||||||||||||||||||||||
3 | Investments | ||||||||||||||||||||||
A summary of investment securities available-for-sale is as follows: | |||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | ||||||||||||||||||||
(Dollars in thousands) | cost | gains | losses | fair value | |||||||||||||||||||
U. S. treasury securities | $ | 500 | $ | 1 | $ | - | $ | 501 | |||||||||||||||
U. S. federal agency obligations | 23,066 | 14 | -429 | 22,651 | |||||||||||||||||||
Municipal obligations, tax exempt | 108,626 | 2,136 | -127 | 110,635 | |||||||||||||||||||
Municipal obligations, taxable | 60,083 | 565 | -349 | 60,299 | |||||||||||||||||||
Mortgage-backed securities | 130,502 | 1,022 | -725 | 130,799 | |||||||||||||||||||
Common stocks | 587 | 592 | - | 1,179 | |||||||||||||||||||
Certificates of deposit | 9,745 | - | - | 9,745 | |||||||||||||||||||
Total | $ | 333,109 | $ | 4,330 | $ | -1,630 | $ | 335,809 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | ||||||||||||||||||||
(Dollars in thousands) | cost | gains | losses | fair value | |||||||||||||||||||
U. S. treasury securities | $ | 500 | $ | - | $ | - | $ | 500 | |||||||||||||||
U. S. federal agency obligations | 20,167 | 10 | -534 | 19,643 | |||||||||||||||||||
Municipal obligations, tax exempt | 90,700 | 1,712 | -619 | 91,793 | |||||||||||||||||||
Municipal obligations, taxable | 53,244 | 270 | -1,042 | 52,472 | |||||||||||||||||||
Mortgage-backed securities | 127,384 | 700 | -2,491 | 125,593 | |||||||||||||||||||
Common stocks | 602 | 501 | - | 1,103 | |||||||||||||||||||
Certificates of deposit | 9,142 | - | - | 9,142 | |||||||||||||||||||
Total | $ | 301,739 | $ | 3,193 | $ | -4,686 | $ | 300,246 | |||||||||||||||
Certain of the Company’s investment securities have unrealized losses, or are temporarily impaired. This temporary impairment represents the estimated amount of loss that would be realized if the securities were sold on the valuation date. Securities which are temporarily impaired are shown below, along with the length of the impairment period. | |||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||
No. of | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
securities | value | losses | value | losses | value | losses | |||||||||||||||||
U. S. federal agency obligations | 20 | $ | 7,594 | $ | -40 | $ | 14,326 | $ | -389 | $ | 21,920 | $ | -429 | ||||||||||
Municipal obligations, tax exempt | 61 | 10,163 | -38 | 8,336 | -89 | 18,499 | -127 | ||||||||||||||||
Municipal obligations, taxable | 69 | 11,134 | -77 | 15,231 | -272 | 26,365 | -349 | ||||||||||||||||
Mortgage-backed securities | 38 | 30,025 | -112 | 26,973 | -613 | 56,998 | -725 | ||||||||||||||||
Total | 188 | $ | 58,916 | $ | -267 | $ | 64,866 | $ | -1,363 | $ | 123,782 | $ | -1,630 | ||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||
No. of | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
securities | value | losses | value | losses | value | losses | |||||||||||||||||
U. S. federal agency obligations | 18 | $ | 16,028 | $ | -436 | $ | 2,149 | $ | -98 | $ | 18,177 | $ | -534 | ||||||||||
Municipal obligations, tax exempt | 91 | 24,496 | -518 | 3,151 | -101 | 27,647 | -619 | ||||||||||||||||
Municipal obligations, taxable | 88 | 35,299 | -1,030 | 1,080 | -12 | 36,379 | -1,042 | ||||||||||||||||
Mortgage-backed securities | 70 | 89,140 | -2,491 | - | - | 89,140 | -2,491 | ||||||||||||||||
Total | 267 | $ | 164,963 | $ | -4,475 | $ | 6,380 | $ | -211 | $ | 171,343 | $ | -4,686 | ||||||||||
The Company performs quarterly reviews of the investment portfolio to determine if investment securities have any declines in fair value which might be considered other-than-temporary. The initial review begins with all securities in an unrealized loss position. The Company’s assessment of other-than-temporary impairment is based on the specific facts and circumstances impacting each individual security. The Company reviews and considers all available information, including expected cash flows, the structure of the security, the credit quality of the underlying assets and the current and anticipated market conditions. Any credit-related impairment on debt securities is realized through a charge to earnings. If an equity security is determined to be other-than-temporarily impaired, the entire impairment is realized through a charge to earnings. | |||||||||||||||||||||||
The Company’s U.S. federal agency portfolio consists of securities issued by the government-sponsored agencies of the Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Federal Home Loan Bank (“FHLB”). The receipt of principal and interest on U.S. federal agency obligations is guaranteed by the respective government-sponsored agency guarantor, such that the Company believes that its U.S. federal agency obligations do not expose the Company to credit-related losses. Based on these factors, along with the Company’s intent to not sell the securities and its belief that it is more likely than not that the Company will not be required to sell the securities before recovery of their cost basis, the Company believes that the U.S. federal agency obligations identified in the tables above are temporarily impaired. | |||||||||||||||||||||||
The Company’s portfolio of municipal obligations consists of both tax-exempt and taxable general obligation securities issued by various municipalities. The Company does not intend to sell, and it is more likely than not that the Company will not be required to sell, its municipal obligations in an unrealized loss position until the recovery of their cost. Due to the issuers’ continued satisfaction of the securities’ obligations in accordance with their contractual terms and the expectation that they will continue to do so, the evaluation of the fundamentals of the issuers’ financial condition and other objective evidence, the Company believes that the municipal obligations identified in the tables above are temporarily impaired. | |||||||||||||||||||||||
The Company’s mortgage-backed securities portfolio consists of securities underwritten to the standards of and guaranteed by the government-sponsored agencies of FHLMC, FNMA and the Government National Mortgage Association. The receipt of principal, at par, and interest on mortgage-backed securities is guaranteed by the respective government-sponsored agency guarantor, such that the Company believes that its mortgage-backed securities do not expose the Company to credit-related losses. Based on these factors, along with the Company’s intent to not sell the securities and the Company’s belief that it is more likely than not that the Company will not be required to sell the securities before recovery of their cost basis, the Company believes that the mortgage-backed securities identified in the tables above are temporarily impaired. | |||||||||||||||||||||||
It is reasonably possible that the fair values of the Company’s investment securities could decline in the future if the overall economy and/or the financial condition of some of the issuers of these securities deteriorates and/or if the liquidity in markets for these securities declines. As a result, there is a risk that additional other-than-temporary impairments may occur in the future and any such amounts could be material to the Company’s consolidated financial statements. The fair value of the Company’s investment securities may continue to decline from further increases in market interest rates, as the market prices of these investments generally move inversely to market interest rates. | |||||||||||||||||||||||
Maturities of investment securities at September 30, 2014 were as follows: | |||||||||||||||||||||||
(Dollars in thousands) | Amortized | Estimated | |||||||||||||||||||||
cost | fair value | ||||||||||||||||||||||
Due in less than one year | $ | 15,173 | $ | 15,268 | |||||||||||||||||||
Due after one year but within five years | 187,749 | 188,766 | |||||||||||||||||||||
Due after five years but within ten years | 96,048 | 97,096 | |||||||||||||||||||||
Due after ten years | 33,552 | 33,500 | |||||||||||||||||||||
Common stocks | 587 | 1,179 | |||||||||||||||||||||
Total | $ | 333,109 | $ | 335,809 | |||||||||||||||||||
The information in the preceding table reflects scheduled principal payments and estimated prepayments, based on observable market inputs, for mortgage-backed securities, where actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. | |||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, securities pledged to secure public funds on deposit, repurchase agreements and other borrowings had a carrying value of approximately $191.4 million and $171.2 million, respectively. Except for U.S. federal agency obligations, no investment in a single issuer exceeded 10% of consolidated stockholders’ equity. | |||||||||||||||||||||||
Other investment securities primarily consist of restricted investments in FHLB and Federal Reserve Bank (“FRB”) stock. The carrying value of the FHLB stock was $2.4 million at September 30, 2014 and $3.2 million at December 31, 2013. The carrying value of the FRB stock was $1.9 million at September 30, 2014 and December 31, 2013. These securities are not readily marketable and are required for regulatory purposes and borrowing availability. Since there is no available market value, these securities are carried at cost. Redemption of these investments at par value is at the option of the FHLB and FRB, as applicable. Also included in other investment securities are other miscellaneous investments in the common stock of various correspondent banks which are held for borrowing purposes and totaled $111,000 at each of September 30, 2014 and December 31, 2013. The Company assessed the ultimate recoverability of these investments and believes that no impairment has occurred. | |||||||||||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
4 | Loans and Allowance for Loan Losses | ||||||||||||||||||||||||||||
Loans consisted of the following as of the dates indicated below: | |||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 128,054 | $ | 125,087 | |||||||||||||||||||||||||
Construction and land | 23,426 | 23,776 | |||||||||||||||||||||||||||
Commercial real estate | 117,025 | 119,390 | |||||||||||||||||||||||||||
Commercial loans | 64,249 | 61,383 | |||||||||||||||||||||||||||
Agriculture loans | 58,538 | 62,287 | |||||||||||||||||||||||||||
Municipal loans | 9,321 | 8,846 | |||||||||||||||||||||||||||
Consumer loans | 20,319 | 18,600 | |||||||||||||||||||||||||||
Total gross loans | 420,932 | 419,369 | |||||||||||||||||||||||||||
Net deferred loan costs and loans in process | 154 | 187 | |||||||||||||||||||||||||||
Allowance for loan losses | -5,222 | -5,540 | |||||||||||||||||||||||||||
Loans, net | $ | 415,864 | $ | 414,016 | |||||||||||||||||||||||||
The following tables provide information on the Company’s allowance for loan losses by loan class and allowance methodology: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Three and nine months ended September 30, 2014 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 596 | $ | 812 | $ | 1,876 | $ | 1,034 | $ | 597 | $ | 58 | $ | 176 | $ | 5,149 | |||||||||||||
Charge-offs | -3 | - | - | -12 | - | - | -81 | -96 | |||||||||||||||||||||
Recoveries | 3 | 4 | - | 1 | - | - | 11 | 19 | |||||||||||||||||||||
Provision for loan losses | -13 | 27 | -77 | 203 | -18 | -2 | 30 | 150 | |||||||||||||||||||||
Balance at September 30, 2014 | 583 | 843 | 1,799 | 1,226 | 579 | 56 | 136 | 5,222 | |||||||||||||||||||||
Balance at December 31, 2013 | $ | 732 | $ | 1,343 | $ | 1,970 | $ | 769 | $ | 545 | $ | 47 | $ | 134 | $ | 5,540 | |||||||||||||
Charge-offs | -23 | - | - | -783 | - | - | -170 | -976 | |||||||||||||||||||||
Recoveries | 9 | 11 | 5 | 2 | - | - | 31 | 58 | |||||||||||||||||||||
Provision for loan losses | -135 | -511 | -176 | 1,238 | 34 | 9 | 141 | 600 | |||||||||||||||||||||
Balance at September 30, 2014 | 583 | 843 | 1,799 | 1,226 | 579 | 56 | 136 | 5,222 | |||||||||||||||||||||
(Dollars in thousands) | Three and nine ended months September 30, 2013 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2013 | $ | 577 | $ | 1,256 | $ | 1,879 | $ | 583 | $ | 354 | $ | 97 | $ | 159 | $ | 4,905 | |||||||||||||
Charge-offs | -48 | - | - | - | - | - | -48 | -96 | |||||||||||||||||||||
Recoveries | 8 | 99 | - | 2 | - | - | 8 | 117 | |||||||||||||||||||||
Provision for loan losses | 55 | 50 | 79 | -88 | 108 | -3 | -1 | 200 | |||||||||||||||||||||
Balance at September 30, 2013 | 592 | 1,405 | 1,958 | 497 | 462 | 94 | 118 | 5,126 | |||||||||||||||||||||
Balance at December 31, 2012 | $ | 714 | $ | 1,214 | $ | 1,313 | $ | 707 | $ | 367 | $ | 107 | $ | 159 | $ | 4,581 | |||||||||||||
Charge-offs | -91 | -53 | - | -200 | - | - | -150 | -494 | |||||||||||||||||||||
Recoveries | 16 | 181 | - | 19 | - | - | 23 | 239 | |||||||||||||||||||||
Provision for loan losses | -47 | 63 | 645 | -29 | 95 | -13 | 86 | 800 | |||||||||||||||||||||
Balance at September 30, 2013 | 592 | 1,405 | 1,958 | 497 | 462 | 94 | 118 | 5,126 | |||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 117 | - | - | 19 | - | - | 18 | 154 | |||||||||||||||||||||
Collectively evaluated for loss | 465 | 843 | 1,799 | 1,207 | 579 | 56 | 119 | 5,068 | |||||||||||||||||||||
Total | 582 | 843 | 1,799 | 1,226 | 579 | 56 | 137 | 5,222 | |||||||||||||||||||||
Loan balances: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 1,655 | 4,884 | 2,829 | 176 | 234 | 706 | 84 | 10,568 | |||||||||||||||||||||
Collectively evaluated for loss | 126,399 | 18,542 | 114,196 | 64,073 | 58,304 | 8,615 | 20,235 | 410,364 | |||||||||||||||||||||
Total | $ | 128,054 | $ | 23,426 | $ | 117,025 | $ | 64,249 | $ | 58,538 | $ | 9,321 | $ | 20,319 | $ | 420,932 | |||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 82 | 234 | 140 | 488 | - | - | 7 | 951 | |||||||||||||||||||||
Collectively evaluated for loss | 650 | 1,109 | 1,830 | 281 | 545 | 47 | 127 | 4,589 | |||||||||||||||||||||
Total | 732 | 1,343 | 1,970 | 769 | 545 | 47 | 134 | 5,540 | |||||||||||||||||||||
Loan balances: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 782 | 8,160 | 2,936 | 4,148 | - | 706 | 24 | 16,756 | |||||||||||||||||||||
Collectively evaluated for loss | 124,305 | 15,616 | 116,454 | 57,235 | 62,287 | 8,140 | 18,576 | 402,613 | |||||||||||||||||||||
Total | $ | 125,087 | $ | 23,776 | $ | 119,390 | $ | 61,383 | $ | 62,287 | $ | 8,846 | $ | 18,600 | $ | 419,369 | |||||||||||||
The Company’s impaired loans decreased from $16.8 million at December 31, 2013 to $10.6 million at September 30, 2014. The difference between the unpaid contractual principal and the impaired loan balance is a result of charge-offs recorded against impaired loans. The difference in the Company’s non-accrual loan balances and impaired loan balances at September 30, 2014 and December 31, 2013, was related to troubled debt restructurings (“TDR”) that are accruing interest, but still classified as impaired. Interest income recognized on a cash basis was immaterial during the nine months ended September 30, 2014 and 2013. The following tables present information on impaired loans: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
Impaired | Impaired | Year-to- | |||||||||||||||||||||||||||
Unpaid | loans | loans with | Related | Year-to- | date interest | ||||||||||||||||||||||||
contractual | Impaired | without an | an | allowance | date average | income | |||||||||||||||||||||||
principal | loan balance | allowance | allowance | recorded | loan balance | recognized | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 1,655 | $ | 1,655 | $ | 133 | $ | 1,522 | $ | 117 | $ | 1,674 | $ | - | |||||||||||||||
Construction and land | 6,619 | 4,884 | 4,884 | - | - | 6,878 | 190 | ||||||||||||||||||||||
Commercial real estate | 2,829 | 2,829 | 2,829 | - | - | 2,908 | 13 | ||||||||||||||||||||||
Commercial loans | 176 | 176 | 74 | 102 | 19 | 176 | - | ||||||||||||||||||||||
Agriculture loans | 234 | 234 | 234 | - | - | 238 | - | ||||||||||||||||||||||
Municipal loans | 772 | 706 | 706 | - | - | 706 | 15 | ||||||||||||||||||||||
Consumer loans | 84 | 84 | 38 | 46 | 18 | 92 | - | ||||||||||||||||||||||
Total impaired loans | $ | 12,369 | $ | 10,568 | $ | 8,898 | $ | 1,670 | $ | 154 | $ | 12,672 | $ | 218 | |||||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
Impaired | Impaired | Year-to- | |||||||||||||||||||||||||||
Unpaid | loans | loans with | Related | Year-to- | date interest | ||||||||||||||||||||||||
contractual | Impaired | without an | an | allowance | date average | income | |||||||||||||||||||||||
principal | loan balance | allowance | allowance | recorded | loan balance | recognized | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 782 | $ | 782 | $ | 326 | $ | 456 | $ | 82 | $ | 800 | $ | - | |||||||||||||||
Construction and land | 9,895 | 8,160 | 6,098 | 2,062 | 234 | 8,383 | 279 | ||||||||||||||||||||||
Commercial real estate | 2,936 | 2,936 | 278 | 2,658 | 140 | 3,046 | 18 | ||||||||||||||||||||||
Commercial loans | 4,148 | 4,148 | 154 | 3,994 | 488 | 192 | - | ||||||||||||||||||||||
Agriculture loans | - | - | - | - | - | - | - | ||||||||||||||||||||||
Municipal loans | 772 | 706 | 706 | - | - | 772 | 20 | ||||||||||||||||||||||
Consumer loans | 24 | 24 | 6 | 18 | 7 | 26 | - | ||||||||||||||||||||||
Total impaired loans | $ | 18,557 | $ | 16,756 | $ | 7,568 | $ | 9,188 | $ | 951 | $ | 13,219 | $ | 317 | |||||||||||||||
The Company’s key credit quality indicator is a loan’s performance status, defined as accruing or non-accruing. Performing loans are considered to have a lower risk of loss. Non-accrual loans are those which the Company believes have a higher risk of loss. Loans are placed on non-accrual or are charged off at an earlier date if collection of principal or interest is considered doubtful. The accrual of interest on non-performing loans is discontinued at the time the loan is 90 days delinquent, unless the credit is well secured and in process of collection. The following tables present information on the Company’s past due and non-accrual loans by loan class: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or | |||||||||||||||||||||||||||
delinquent | delinquent | more | Total past | Total past | |||||||||||||||||||||||||
and | and | delinquent | due loans | Non-accrual | due and non- | Total loans | |||||||||||||||||||||||
accruing | accruing | and accruing | accruing | loans | accrual loans | not past due | |||||||||||||||||||||||
One-to-four family residential real estate | 184 | 28 | - | 212 | $ | 1,650 | $ | 1,862 | $ | 126,192 | |||||||||||||||||||
Construction and land | - | - | - | - | 1,326 | 1,326 | 22,100 | ||||||||||||||||||||||
Commercial real estate | 391 | 870 | - | 1,261 | 2,565 | 3,826 | 113,199 | ||||||||||||||||||||||
Commercial loans | 408 | 62 | - | 470 | 176 | 646 | 63,603 | ||||||||||||||||||||||
Agriculture loans | - | 17 | - | 17 | 234 | 251 | 58,287 | ||||||||||||||||||||||
Municipal loans | - | - | - | - | 65 | 65 | 9,256 | ||||||||||||||||||||||
Consumer loans | 49 | 18 | - | 67 | 84 | 151 | 20,168 | ||||||||||||||||||||||
Total | $ | 1,032 | $ | 995 | $ | - | $ | 2,027 | $ | 6,100 | $ | 8,127 | $ | 412,805 | |||||||||||||||
Percent of gross loans | 0.24 | % | 0.24 | % | 0 | % | 0.48 | % | 1.45 | % | 1.93 | % | 98.07 | % | |||||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or | |||||||||||||||||||||||||||
delinquent | delinquent | more | Total past | Total past | |||||||||||||||||||||||||
and | and | delinquent | due loans | Non-accrual | due and non- | Total loans | |||||||||||||||||||||||
accruing | accruing | and accruing | accruing | loans | accrual loans | not past due | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 311 | $ | 793 | $ | - | $ | 1,104 | $ | 776 | $ | 1,880 | $ | 123,207 | |||||||||||||||
Construction and land | 18 | - | - | 18 | 2,165 | 2,183 | 21,593 | ||||||||||||||||||||||
Commercial real estate | - | 9 | - | 9 | 2,658 | 2,667 | 116,723 | ||||||||||||||||||||||
Commercial loans | 187 | - | - | 187 | 4,148 | 4,335 | 57,048 | ||||||||||||||||||||||
Agriculture loans | 23 | - | - | 23 | - | 23 | 62,264 | ||||||||||||||||||||||
Municipal loans | - | - | - | - | 65 | 65 | 8,781 | ||||||||||||||||||||||
Consumer loans | 85 | 11 | - | 96 | 24 | 120 | 18,480 | ||||||||||||||||||||||
Total | $ | 624 | $ | 813 | $ | - | $ | 1,437 | $ | 9,836 | $ | 11,273 | $ | 408,096 | |||||||||||||||
Percent of gross loans | 0.15 | % | 0.19 | % | 0 | % | 0.34 | % | 2.35 | % | 2.69 | % | 97.31 | % | |||||||||||||||
The Company also categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a quarterly basis. Nonclassified loans generally include those loans that are expected to be repaid in accordance with contractual loan terms. Classified loans are those that are assigned a special mention, substandard or doubtful risk rating using the following definitions: | |||||||||||||||||||||||||||||
Special Mention: Loans are currently protected by the current net worth and paying capacity of the obligor or of the collateral pledged but potentially weak. These loans constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of substandard. The credit risk may be relatively minor, yet constitutes an unwarranted risk in light of the circumstances surrounding a specific asset. | |||||||||||||||||||||||||||||
Substandard: Loan is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged. Loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||
Doubtful: Loans classified doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. | |||||||||||||||||||||||||||||
The following table provides information on the Company’s risk categories by loan class: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||||||
Nonclassified | Classified | Nonclassified | Classified | ||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 124,129 | $ | 3,925 | $ | 121,949 | $ | 3,138 | |||||||||||||||||||||
Construction and land | 16,720 | 6,706 | 17,545 | 6,231 | |||||||||||||||||||||||||
Commercial real estate | 109,544 | 7,481 | 114,610 | 4,780 | |||||||||||||||||||||||||
Commercial loans | 53,324 | 10,925 | 51,436 | 9,947 | |||||||||||||||||||||||||
Agriculture loans | 56,869 | 1,669 | 60,624 | 1,663 | |||||||||||||||||||||||||
Municipal loans | 9,233 | 88 | 8,758 | 88 | |||||||||||||||||||||||||
Consumer loans | 20,235 | 84 | 18,107 | 493 | |||||||||||||||||||||||||
Total | 390,054 | 30,878 | 393,029 | 26,340 | |||||||||||||||||||||||||
At September 30, 2014, the Company had seven loan relationships consisting of eleven outstanding loans that were classified as TDRs. The Company did not classify any loan modifications as TDRs during the three and nine month periods ended September 30, 2014. No loan modifications were classified as TDRs during the three month period ended September 30, 2013, however during the first nine months of 2013, the Company classified a $278,000 commercial real estate loan as a TDR after modifying the loan payments to interest only in order to allow the borrower additional time to liquidate the properties securing the loan. | |||||||||||||||||||||||||||||
The Company evaluates each TDR individually and returns the loan to accrual status when a payment history is established after the restructuring and future payments are reasonably assured. There were no loans that had been modified as TDRs and then subsequently defaulted during the nine months ended September 30, 2014 and 2013. At September 30, 2014, there were no commitments to lend additional funds on any loan classified as a TDR. As of September 30, 2014, the Company had no allowance recorded against loans classified as TDRs compared to $234,000 recorded at December 31, 2013. | |||||||||||||||||||||||||||||
The following table presents information on loans that are classified as TDRs: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||||||
Number of | Non-accrual | Accruing | Number of | Non-accrual | Accruing | ||||||||||||||||||||||||
loans | balance | balance | loans | balance | balance | ||||||||||||||||||||||||
One-to-four family residential real estate | 1 | $ | - | $ | 5 | 1 | $ | - | $ | 6 | |||||||||||||||||||
Construction and land | 7 | 616 | 3,558 | 7 | 627 | 5,995 | |||||||||||||||||||||||
Commercial real estate | 1 | - | 264 | 1 | - | 278 | |||||||||||||||||||||||
Municipal loans | 2 | - | 641 | 2 | - | 641 | |||||||||||||||||||||||
Total troubled debt restructurings | 11 | $ | 616 | $ | 4,468 | 11 | $ | 627 | $ | 6,920 | |||||||||||||||||||
The Company services one-to-four family residential real estate loans for others with outstanding principal balances of $364.5 million and $338.3 million at September 30, 2014 and December 31, 2013, respectively. Gross service fee income related to such loans was $237,000 and $189,000 for the quarters ended September 30, 2014 and 2013, respectively, and is included in fees and service charges in the consolidated statements of earnings. Gross service fee income for the nine months ended September 30, 2014 and 2013 was $696,000 and $536,000, respectively. | |||||||||||||||||||||||||||||
The Company had a mortgage repurchase reserve of $454,000 at September 30, 2014 compared to $468,000 at December 31, 2013. The mortgage repurchase reserve represents the Company’s best estimate of probable losses that the Company has incurred related to the repurchase obligation of one-to-four family residential real estate loans previously sold or to reimburse investors for credit losses incurred on loans previously sold where a breach of the contractual representations and warranties occurred. Because the level of mortgage repurchase losses depends upon economic factors, investor demand strategies and other external conditions that may change over the life of the underlying loans, mortgage repurchase losses are difficult to estimate and require considerable judgment. The Company charged a $19,000 loss against the mortgage repurchase reserve and recorded a $5,000 provision to the reserve during the first nine months of 2014. | |||||||||||||||||||||||||||||
Earnings_per_Share
Earnings per Share | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
5 | Earnings per Share | |||||||||||||
Basic earnings per share has been computed based upon the weighted average number of common shares outstanding during each period. Diluted earnings per share includes the effect of all potential common shares outstanding during each period. The shares used in the calculation of basic and diluted earnings per share are shown below: | ||||||||||||||
(Dollars in thousands, except per share amounts) | Three months ended | Nine months ended | ||||||||||||
September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net earnings | $ | 2,174 | $ | 1,285 | $ | 5,950 | $ | 4,134 | ||||||
Weighted average common shares outstanding - basic (1) | 3,174,799 | 3,082,625 | 3,166,312 | 3,074,655 | ||||||||||
Assumed exercise of stock options (1) | 56,305 | 46,242 | 45,309 | 52,972 | ||||||||||
Weighted average common shares outstanding - diluted (1) | 3,231,104 | 3,128,867 | 3,211,621 | 3,127,627 | ||||||||||
Net earnings per share (1): | ||||||||||||||
Basic | $ | 0.68 | $ | 0.42 | $ | 1.88 | $ | 1.34 | ||||||
Diluted | $ | 0.67 | $ | 0.41 | $ | 1.85 | $ | 1.32 | ||||||
-1 | Share and per share values for the periods ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. | |||||||||||||
The diluted earnings per share computations for the three and nine months ended September 30, 2014 and 2013 include all unexercised stock options because no stock options were anti-dilutive as of such dates. | ||||||||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments and Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
6 | Fair Value of Financial Instruments and Fair Value Measurements | ||||||||||||||||
The Company follows the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820 “Fair Value Measurements and Disclosures,” which defines fair value, establishes a framework for measuring fair value and expands the disclosures about fair value measurements. ASC Topic 820-10-55 requires the use of a hierarchy of fair value techniques based upon whether the inputs to those fair values reflect assumptions other market participants would use based upon market data obtained from independent sources or reflect the Company’s own assumptions of market participant valuation. The Company applies FASB ASC 820 to certain nonfinancial assets and liabilities, which include foreclosed real estate, long-lived assets, goodwill, mortgage servicing rights and core deposit premium, which are recorded at fair value only upon impairment. The fair value hierarchy is as follows: | |||||||||||||||||
• Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | |||||||||||||||||
• Level 2: Quoted prices for similar assets in active markets or quoted prices that contain observable inputs such as yield curves, volatilities, prepayment speeds and other inputs derived from market data. | |||||||||||||||||
• Level 3: Quoted prices in markets that are not active or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. | |||||||||||||||||
Fair value estimates of the Company’s financial instruments as of September 30, 2014 and December 31, 2013, including methods and assumptions utilized, are set forth below: | |||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||
Carrying | |||||||||||||||||
amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 13,365 | $ | 13,365 | $ | - | $ | - | $ | 13,365 | |||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 335,809 | 1,680 | 334,129 | - | 335,809 | ||||||||||||
Other securities | 4,385 | n/a | n/a | n/a | n/a | ||||||||||||
Loans, net | 415,864 | - | - | 422,971 | 422,971 | ||||||||||||
Loans held for sale, net | 10,233 | - | 10,233 | - | 10,233 | ||||||||||||
Mortgage servicing rights | 2,415 | - | 3,619 | - | 3,619 | ||||||||||||
Derivative financial instruments | 390 | - | 390 | - | 390 | ||||||||||||
Accrued interest receivable | 3,719 | - | 1,610 | 2,109 | 3,719 | ||||||||||||
Financial liabilities: | |||||||||||||||||
Non-maturity deposits | $ | -511,949 | $ | -511,949 | $ | - | $ | - | -511,949 | ||||||||
Time deposits | -176,386 | - | -176,026 | - | -176,026 | ||||||||||||
FHLB borrowings | -49,662 | - | -51,724 | - | -51,724 | ||||||||||||
Other borrowings | -33,643 | - | -30,732 | - | -30,732 | ||||||||||||
Accrued interest payable | -317 | - | -317 | - | -317 | ||||||||||||
As of December 31, 2013 | |||||||||||||||||
Carrying | |||||||||||||||||
amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 29,735 | $ | 29,735 | $ | - | $ | - | $ | 29,735 | |||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 300,246 | 1,603 | 298,643 | - | 300,246 | ||||||||||||
Other securities | 5,271 | n/a | n/a | n/a | n/a | ||||||||||||
Loans, net | 414,016 | - | - | 420,475 | 420,475 | ||||||||||||
Loans held for sale, net | 7,864 | - | 7,864 | - | 7,864 | ||||||||||||
Mortgage servicing rights | 2,377 | - | 3,491 | - | 3,491 | ||||||||||||
Derivative financial instruments | 265 | - | 265 | - | 265 | ||||||||||||
Accrued interest receivable | 2,581 | - | 1,491 | 1,090 | 2,581 | ||||||||||||
Financial liabilities: | |||||||||||||||||
Non-maturity deposits | $ | -501,291 | $ | -501,291 | $ | - | $ | - | -501,291 | ||||||||
Time deposits | -186,195 | - | -186,222 | - | -186,222 | ||||||||||||
FHLB borrowings | -35,689 | - | -38,087 | - | -38,087 | ||||||||||||
Other borrowings | -33,055 | - | -29,351 | - | -29,351 | ||||||||||||
Derivative financial instruments | -78 | - | -78 | - | -78 | ||||||||||||
Accrued interest payable | -335 | - | -335 | - | -335 | ||||||||||||
Methods and Assumptions Utilized | |||||||||||||||||
The carrying amount of cash and cash equivalents is considered to approximate fair value. | |||||||||||||||||
The Company’s investment securities classified as available-for-sale include U.S. federal agency securities, municipal obligations, mortgage-backed securities, certificates of deposits and common stocks. Quoted exchange prices are available for the Company’s U.S treasury securities and common stock investments, which are classified as Level 1. U.S. federal agency securities and mortgage-backed obligations are priced utilizing industry-standard models that consider various assumptions, including time value, yield curves, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. These measurements are classified as Level 2. Municipal securities are valued using a type of matrix, or grid, pricing in which securities are benchmarked against U.S. treasury rates based on credit rating. These model and matrix measurements are classified as Level 2 in the fair value hierarchy. The Company’s investments in FDIC-insured, fixed-rate certificates of deposits are valued using a net present value model that discounts the future cash flows at the current market rates and are classified as Level 2. | |||||||||||||||||
The Company’s other investment securities include investments in FHLB and FRB stock, which are held for regulatory purposes. It is not practical to determine the fair value of these investments due to restrictions placed on the transferability of FHLB and FRB stock. | |||||||||||||||||
The estimated fair value of the Company’s loan portfolio is based on the segregation of loans by collateral type, interest terms, and maturities. The fair value is estimated based on discounting scheduled and estimated cash flows through maturity using an appropriate risk-adjusted yield curve to approximate current interest rates for each category. No adjustment was made to the interest rates for changes in credit risk of performing loans where there are no known credit concerns. Management segregates loans in appropriate risk categories. Management believes that the risk factor embedded in the interest rates along with the allowance for loan losses applicable to the performing loan portfolio results in a fair valuation of such loans. The fair values of impaired loans are generally based on market prices for similar assets determined through independent appraisals or discounted values of independent appraisals and brokers’ opinions of value. This method of estimating fair value does not incorporate the exit-price concept of fair value prescribed by ASC Topic 820 and is classified as Level 3. | |||||||||||||||||
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value, determined on an aggregate basis. The mortgage loan valuations are based on quoted secondary market prices for similar loans and are classified as Level 2. | |||||||||||||||||
The Company measures its mortgage servicing rights at the lower of amortized cost or fair value. Periodic impairment assessments are performed based on fair value estimates at the reporting date. The fair value of mortgage servicing rights are estimated based on a valuation model which calculates the present value of estimated future cash flows associated with servicing the underlying loans. The model incorporates assumptions that market participants use in estimating future net servicing income, including estimated prepayment speeds, market discount rates, cost to service, and other servicing income, including late fees. The fair value measurements are classified as Level 2. | |||||||||||||||||
The carrying amount of accrued interest receivable and payable are considered to approximate fair value. | |||||||||||||||||
The estimated fair value of deposits with no stated maturity, such as non-interest-bearing demand deposits, savings, money market accounts, and NOW accounts, is equal to the amount payable on demand. The fair value of interest-bearing time deposits is based on the discounted value of contractual cash flows of such deposits. The discount rate is tied to the FHLB yield curve plus an appropriate servicing spread. Fair value measurements based on discounted cash flows are classified as Level 2. These fair values do not incorporate the value of core deposit intangibles which may be associated with the deposit base. | |||||||||||||||||
The fair value of advances from the FHLB and other borrowings is estimated using current yield curves for similar borrowings adjusted for the Company’s current credit spread and classified as Level 2. | |||||||||||||||||
The Company’s derivative financial instruments consist of interest rate lock commitments and corresponding forward sales contracts on mortgage loans held for sale. The fair values of these derivatives are based on quoted prices for similar loans in the secondary market. The market prices are adjusted by a factor, based on the Company’s historical data and its judgment about future economic trends, which considers the likelihood that a commitment will ultimately result in a closed loan. These instruments are classified as Level 2. The amounts are included in other assets or other liabilities on the consolidated balance sheets and gains on sale of loans, net in the consolidated statements of earnings. | |||||||||||||||||
The Company also includes interest rate swaps in derivative financial instruments. The fair values of these derivatives are based on valuation models that utilize readily observable market inputs. These instruments are classified as Level 2. The amounts are included in other assets or other liabilities on the consolidated balance sheets. The Company terminated its interest rate swaps during the third quarter of 2014. | |||||||||||||||||
Off-Balance-Sheet Financial Instruments | |||||||||||||||||
The fair value of letters of credit and commitments to extend credit is based on the fees currently charged to enter into similar agreements. The aggregate of these fees is not material. | |||||||||||||||||
Transfers | |||||||||||||||||
The Company did not transfer any assets or liabilities among levels during the nine months ended September 30, 2014 or during the year ended December 31, 2013. | |||||||||||||||||
Limitations | |||||||||||||||||
Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular 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 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. Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. | |||||||||||||||||
Valuation Methods for Instruments Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013, allocated to the appropriate fair value hierarchy: | |||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||
Fair value hierarchy | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U. S. treasury securities | $ | 501 | $ | 501 | $ | - | $ | - | |||||||||
U. S. federal agency obligations | 22,651 | - | 22,651 | - | |||||||||||||
Municipal obligations, tax exempt | 110,635 | - | 110,635 | - | |||||||||||||
Municipal obligations, taxable | 60,299 | - | 60,299 | - | |||||||||||||
Mortgage-backed securities | 130,799 | - | 130,799 | - | |||||||||||||
Common stocks | 1,179 | 1,179 | - | - | |||||||||||||
Certificates of deposit | 9,745 | - | 9,745 | - | |||||||||||||
Derivative financial instruments | $ | 390 | $ | - | $ | 390 | $ | - | |||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||
Fair value hierarchy | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U. S. treasury securities | $ | 500 | $ | 500 | $ | - | $ | - | |||||||||
U. S. federal agency obligations | 19,643 | - | 19,643 | - | |||||||||||||
Municipal obligations, tax exempt | 91,793 | - | 91,793 | - | |||||||||||||
Municipal obligations, taxable | 52,472 | - | 52,472 | - | |||||||||||||
Mortgage-backed securities | 125,593 | - | 125,593 | - | |||||||||||||
Common stocks | 1,103 | 1,103 | - | - | |||||||||||||
Certificates of deposit | 9,142 | - | 9,142 | - | |||||||||||||
Derivative financial instruments | 265 | - | 265 | - | |||||||||||||
Liabilities: | |||||||||||||||||
Derivative financial instruments | $ | (78 | ) | $ | - | $ | (78 | ) | $ | - | |||||||
Changes in the fair value of available-for-sale securities are included in other comprehensive income to the extent the changes are not considered other-than-temporary impairments. Other-than-temporary impairment tests are performed on a quarterly basis and any decline in the fair value of an individual security below its cost that is deemed to be other-than-temporary results in a write-down of that security’s cost basis. | |||||||||||||||||
Valuation Methods for Instruments Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
The Company does not value its loan portfolio at fair value. Collateral-dependent impaired loans are generally carried at the lower of cost or fair value of the collateral, less estimated selling costs. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company and then further adjusted if warranted based on relevant facts and circumstances. The appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales and income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated at least quarterly for additional impairment and adjusted accordingly, based on the same factors identified above. The carrying value of the Company’s impaired loans was $10.6 million and $16.8 million, with an allocated allowance of $154,000 and $951,000, at September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value, determined on an aggregate basis. The mortgage loan valuations are based on quoted secondary market prices for similar loans and are classified as Level 2. | |||||||||||||||||
Real estate owned includes assets acquired through, or in lieu of, foreclosure and land previously acquired for expansion. Real estate owned is initially recorded at the fair value of the collateral less estimated selling costs. Subsequent valuations are updated periodically and are based upon independent appraisals, third party price opinions or internal pricing models. The appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales and income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Real estate owned is reviewed and evaluated at least annually for additional impairment and adjusted accordingly, based on the same factors identified above. | |||||||||||||||||
The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013 allocated to the appropriate fair value hierarchy: | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
As of September 30, 2014 | Total | ||||||||||||||||
Fair value hierarchy | (losses)/ | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | gains | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 1,405 | $ | - | $ | - | $ | 1,405 | $ | -45 | |||||||
Commercial loans | 83 | - | - | 83 | -19 | ||||||||||||
Consumer loans | 28 | - | - | 28 | -10 | ||||||||||||
Loans held for sale, net | 10,233 | - | 10,233 | - | -2 | ||||||||||||
Real estate owned: | |||||||||||||||||
One-to-four family residential real estate | 40 | - | - | 40 | -22 | ||||||||||||
As of December 31, 2013 | Total | ||||||||||||||||
Fair value hierarchy | (losses)/ | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | gains | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 374 | $ | - | $ | - | $ | 374 | $ | -82 | |||||||
Construction and land | 1,828 | - | - | 1,828 | 154 | ||||||||||||
Commercial real estate | 2,518 | - | - | 2,518 | -140 | ||||||||||||
Commercial loans | 3,506 | - | - | 3,506 | -488 | ||||||||||||
Consumer loans | 11 | - | - | 11 | -8 | ||||||||||||
Loans held for sale, net | 7,864 | - | 7,864 | - | -41 | ||||||||||||
Real estate owned: | |||||||||||||||||
One-to-four family residential real estate | 210 | - | - | 210 | -109 | ||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013. | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Fair value | Valuation technique | Unboservable inputs | Range | ||||||||||||||
As of September 30, 2014 | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 1,405 | Sales comparison | Adjustment to appraised value | 10%-20 | % | |||||||||||
Commercial loans | 83 | Sales comparison | Adjustment to comparable sales | 20%-50 | % | ||||||||||||
Consumer loans | 28 | Sales comparison | Adjustment to appraised value | 20 | % | ||||||||||||
As of December 31, 2013 | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 374 | Sales comparison | Adjustment to appraised value | 0%-10 | % | |||||||||||
Construction and land | 1,828 | Sales comparison | Adjustment to appraised value | 25 | % | ||||||||||||
Commercial real estate | 2,518 | Sales comparison | Adjustment to appraised value | 10%-25 | % | ||||||||||||
Commercial loans | 3,506 | Sales comparison | Adjustment to comparable sales | 5%-40 | % | ||||||||||||
Consumer loans | 11 | Sales comparison | Adjustment to comparable sales | 0 | % | ||||||||||||
Impact_of_Recent_Accounting_Pr
Impact of Recent Accounting Pronouncements | 9 Months Ended | ||
Sep. 30, 2014 | |||
Accounting Changes and Error Corrections [Abstract] | ' | ||
Accounting Changes and Error Corrections [Text Block] | ' | ||
8 | Impact of Recent Accounting Pronouncements | ||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or Tax Credit Carryforward Exists. To eliminate variance in practice, ASU 2013-11 provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU became effective for annual and interim periods beginning after December 15, 2013. Adoption of ASU 2013-11 did not have a significant impact on the Company’s consolidated financial statements. | |||
In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments require companies to disclose the amount of foreclosed residential real estate property held and the recorded investment in consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. The ASU also defines when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The amendments are effective for interim and annual periods beginning January 1, 2015. The adoption of ASU 2014-04 is not expected to have a significant effect on the Company's consolidated financial statements. | |||
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The main provisions of the update require the identification of performance obligations within a contract and require the recognition of revenue based on a stand-alone allocation of contract revenue to each performance obligation. Performance obligations may be satisfied and revenue recognized over a period of time if: 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs, or 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. For public entities the amendments of the update are effective for interim and annual reporting periods beginning after December 15, 2016. The adoption of ASU 2014-09 is not expected to have a significant effect on the Company's consolidated financial statements. | |||
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments change the accounting for repurchase-to-maturity repurchase transactions to secured borrowing accounting. ASU 2014-11 also requires additional disclosures for repurchase agreements and securities lending arrangements. The amendments are effective for interim and annual periods beginning after December 15, 2014. The adoption of ASU 2014-11 is not expected to have a significant effect on the Company's consolidated financial statements. | |||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||||
A summary of the other intangible assets that continue to be subject to amortization is as follows: | |||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||
Gross carrying | Accumulated | Net carrying | |||||||||
amount | amortization | amount | |||||||||
Core deposit intangible assets | $ | 6,078 | $ | -4,368 | $ | 1,710 | |||||
Lease intangible asset | 350 | -41 | 309 | ||||||||
Mortgage servicing rights | 4,267 | -1,852 | 2,415 | ||||||||
Total other intangible assets | $ | 10,695 | $ | -6,261 | $ | 4,434 | |||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||
Gross carrying | Accumulated | Net carrying | |||||||||
amount | amortization | amount | |||||||||
Core deposit intangible assets | $ | 6,684 | $ | -4,592 | $ | 2,092 | |||||
Lease intangible asset | 350 | -8 | 342 | ||||||||
Mortgage servicing rights | 3,866 | -1,489 | 2,377 | ||||||||
Total other intangible assets | $ | 10,900 | $ | -6,089 | $ | 4,811 | |||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||
The following sets forth estimated amortization expense for core deposit and lease intangible assets for the remainder of 2014 and in successive years ending December 31: | |||||||||||
(Dollars in thousands) | Amortization | ||||||||||
expense | |||||||||||
Remainder of 2014 | $ | 126 | |||||||||
2015 | 429 | ||||||||||
2016 | 327 | ||||||||||
2017 | 289 | ||||||||||
2018 | 252 | ||||||||||
Thereafter | 596 | ||||||||||
Total | $ | 2,019 | |||||||||
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||
A summary of investment securities available-for-sale is as follows: | |||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | ||||||||||||||||||||
(Dollars in thousands) | cost | gains | losses | fair value | |||||||||||||||||||
U. S. treasury securities | $ | 500 | $ | 1 | $ | - | $ | 501 | |||||||||||||||
U. S. federal agency obligations | 23,066 | 14 | -429 | 22,651 | |||||||||||||||||||
Municipal obligations, tax exempt | 108,626 | 2,136 | -127 | 110,635 | |||||||||||||||||||
Municipal obligations, taxable | 60,083 | 565 | -349 | 60,299 | |||||||||||||||||||
Mortgage-backed securities | 130,502 | 1,022 | -725 | 130,799 | |||||||||||||||||||
Common stocks | 587 | 592 | - | 1,179 | |||||||||||||||||||
Certificates of deposit | 9,745 | - | - | 9,745 | |||||||||||||||||||
Total | $ | 333,109 | $ | 4,330 | $ | -1,630 | $ | 335,809 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||
Amortized | unrealized | unrealized | Estimated | ||||||||||||||||||||
(Dollars in thousands) | cost | gains | losses | fair value | |||||||||||||||||||
U. S. treasury securities | $ | 500 | $ | - | $ | - | $ | 500 | |||||||||||||||
U. S. federal agency obligations | 20,167 | 10 | -534 | 19,643 | |||||||||||||||||||
Municipal obligations, tax exempt | 90,700 | 1,712 | -619 | 91,793 | |||||||||||||||||||
Municipal obligations, taxable | 53,244 | 270 | -1,042 | 52,472 | |||||||||||||||||||
Mortgage-backed securities | 127,384 | 700 | -2,491 | 125,593 | |||||||||||||||||||
Common stocks | 602 | 501 | - | 1,103 | |||||||||||||||||||
Certificates of deposit | 9,142 | - | - | 9,142 | |||||||||||||||||||
Total | $ | 301,739 | $ | 3,193 | $ | -4,686 | $ | 300,246 | |||||||||||||||
Available For Sale Securities Continuous Unrealized Loss Position Fair Value [Table Text Block] | ' | ||||||||||||||||||||||
Securities which are temporarily impaired are shown below, along with the length of the impairment period. | |||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||
No. of | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
securities | value | losses | value | losses | value | losses | |||||||||||||||||
U. S. federal agency obligations | 20 | $ | 7,594 | $ | -40 | $ | 14,326 | $ | -389 | $ | 21,920 | $ | -429 | ||||||||||
Municipal obligations, tax exempt | 61 | 10,163 | -38 | 8,336 | -89 | 18,499 | -127 | ||||||||||||||||
Municipal obligations, taxable | 69 | 11,134 | -77 | 15,231 | -272 | 26,365 | -349 | ||||||||||||||||
Mortgage-backed securities | 38 | 30,025 | -112 | 26,973 | -613 | 56,998 | -725 | ||||||||||||||||
Total | 188 | $ | 58,916 | $ | -267 | $ | 64,866 | $ | -1,363 | $ | 123,782 | $ | -1,630 | ||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||
No. of | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
securities | value | losses | value | losses | value | losses | |||||||||||||||||
U. S. federal agency obligations | 18 | $ | 16,028 | $ | -436 | $ | 2,149 | $ | -98 | $ | 18,177 | $ | -534 | ||||||||||
Municipal obligations, tax exempt | 91 | 24,496 | -518 | 3,151 | -101 | 27,647 | -619 | ||||||||||||||||
Municipal obligations, taxable | 88 | 35,299 | -1,030 | 1,080 | -12 | 36,379 | -1,042 | ||||||||||||||||
Mortgage-backed securities | 70 | 89,140 | -2,491 | - | - | 89,140 | -2,491 | ||||||||||||||||
Total | 267 | $ | 164,963 | $ | -4,475 | $ | 6,380 | $ | -211 | $ | 171,343 | $ | -4,686 | ||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||
Maturities of investment securities at September 30, 2014 were as follows: | |||||||||||||||||||||||
(Dollars in thousands) | Amortized | Estimated | |||||||||||||||||||||
cost | fair value | ||||||||||||||||||||||
Due in less than one year | $ | 15,173 | $ | 15,268 | |||||||||||||||||||
Due after one year but within five years | 187,749 | 188,766 | |||||||||||||||||||||
Due after five years but within ten years | 96,048 | 97,096 | |||||||||||||||||||||
Due after ten years | 33,552 | 33,500 | |||||||||||||||||||||
Common stocks | 587 | 1,179 | |||||||||||||||||||||
Total | $ | 333,109 | $ | 335,809 | |||||||||||||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||
Loans consisted of the following as of the dates indicated below: | |||||||||||||||||||||||||||||
(Dollars in thousands) | September 30, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 128,054 | $ | 125,087 | |||||||||||||||||||||||||
Construction and land | 23,426 | 23,776 | |||||||||||||||||||||||||||
Commercial real estate | 117,025 | 119,390 | |||||||||||||||||||||||||||
Commercial loans | 64,249 | 61,383 | |||||||||||||||||||||||||||
Agriculture loans | 58,538 | 62,287 | |||||||||||||||||||||||||||
Municipal loans | 9,321 | 8,846 | |||||||||||||||||||||||||||
Consumer loans | 20,319 | 18,600 | |||||||||||||||||||||||||||
Total gross loans | 420,932 | 419,369 | |||||||||||||||||||||||||||
Net deferred loan costs and loans in process | 154 | 187 | |||||||||||||||||||||||||||
Allowance for loan losses | -5,222 | -5,540 | |||||||||||||||||||||||||||
Loans, net | $ | 415,864 | $ | 414,016 | |||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables provide information on the Company’s allowance for loan losses by loan class and allowance methodology: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Three and nine months ended September 30, 2014 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2014 | $ | 596 | $ | 812 | $ | 1,876 | $ | 1,034 | $ | 597 | $ | 58 | $ | 176 | $ | 5,149 | |||||||||||||
Charge-offs | -3 | - | - | -12 | - | - | -81 | -96 | |||||||||||||||||||||
Recoveries | 3 | 4 | - | 1 | - | - | 11 | 19 | |||||||||||||||||||||
Provision for loan losses | -13 | 27 | -77 | 203 | -18 | -2 | 30 | 150 | |||||||||||||||||||||
Balance at September 30, 2014 | 583 | 843 | 1,799 | 1,226 | 579 | 56 | 136 | 5,222 | |||||||||||||||||||||
Balance at December 31, 2013 | $ | 732 | $ | 1,343 | $ | 1,970 | $ | 769 | $ | 545 | $ | 47 | $ | 134 | $ | 5,540 | |||||||||||||
Charge-offs | -23 | - | - | -783 | - | - | -170 | -976 | |||||||||||||||||||||
Recoveries | 9 | 11 | 5 | 2 | - | - | 31 | 58 | |||||||||||||||||||||
Provision for loan losses | -135 | -511 | -176 | 1,238 | 34 | 9 | 141 | 600 | |||||||||||||||||||||
Balance at September 30, 2014 | 583 | 843 | 1,799 | 1,226 | 579 | 56 | 136 | 5,222 | |||||||||||||||||||||
(Dollars in thousands) | Three and nine ended months September 30, 2013 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Balance at June 30, 2013 | $ | 577 | $ | 1,256 | $ | 1,879 | $ | 583 | $ | 354 | $ | 97 | $ | 159 | $ | 4,905 | |||||||||||||
Charge-offs | -48 | - | - | - | - | - | -48 | -96 | |||||||||||||||||||||
Recoveries | 8 | 99 | - | 2 | - | - | 8 | 117 | |||||||||||||||||||||
Provision for loan losses | 55 | 50 | 79 | -88 | 108 | -3 | -1 | 200 | |||||||||||||||||||||
Balance at September 30, 2013 | 592 | 1,405 | 1,958 | 497 | 462 | 94 | 118 | 5,126 | |||||||||||||||||||||
Balance at December 31, 2012 | $ | 714 | $ | 1,214 | $ | 1,313 | $ | 707 | $ | 367 | $ | 107 | $ | 159 | $ | 4,581 | |||||||||||||
Charge-offs | -91 | -53 | - | -200 | - | - | -150 | -494 | |||||||||||||||||||||
Recoveries | 16 | 181 | - | 19 | - | - | 23 | 239 | |||||||||||||||||||||
Provision for loan losses | -47 | 63 | 645 | -29 | 95 | -13 | 86 | 800 | |||||||||||||||||||||
Balance at September 30, 2013 | 592 | 1,405 | 1,958 | 497 | 462 | 94 | 118 | 5,126 | |||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 117 | - | - | 19 | - | - | 18 | 154 | |||||||||||||||||||||
Collectively evaluated for loss | 465 | 843 | 1,799 | 1,207 | 579 | 56 | 119 | 5,068 | |||||||||||||||||||||
Total | 582 | 843 | 1,799 | 1,226 | 579 | 56 | 137 | 5,222 | |||||||||||||||||||||
Loan balances: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 1,655 | 4,884 | 2,829 | 176 | 234 | 706 | 84 | 10,568 | |||||||||||||||||||||
Collectively evaluated for loss | 126,399 | 18,542 | 114,196 | 64,073 | 58,304 | 8,615 | 20,235 | 410,364 | |||||||||||||||||||||
Total | $ | 128,054 | $ | 23,426 | $ | 117,025 | $ | 64,249 | $ | 58,538 | $ | 9,321 | $ | 20,319 | $ | 420,932 | |||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | |||||||||||||||||||||||||||||
family | |||||||||||||||||||||||||||||
residential | Construction | Commercial | Commercial | Agriculture | Municipal | Consumer | |||||||||||||||||||||||
real estate | and land | real estate | loans | loans | loans | loans | Total | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 82 | 234 | 140 | 488 | - | - | 7 | 951 | |||||||||||||||||||||
Collectively evaluated for loss | 650 | 1,109 | 1,830 | 281 | 545 | 47 | 127 | 4,589 | |||||||||||||||||||||
Total | 732 | 1,343 | 1,970 | 769 | 545 | 47 | 134 | 5,540 | |||||||||||||||||||||
Loan balances: | |||||||||||||||||||||||||||||
Individually evaluated for loss | 782 | 8,160 | 2,936 | 4,148 | - | 706 | 24 | 16,756 | |||||||||||||||||||||
Collectively evaluated for loss | 124,305 | 15,616 | 116,454 | 57,235 | 62,287 | 8,140 | 18,576 | 402,613 | |||||||||||||||||||||
Total | $ | 125,087 | $ | 23,776 | $ | 119,390 | $ | 61,383 | $ | 62,287 | $ | 8,846 | $ | 18,600 | $ | 419,369 | |||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present information on impaired loans: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
Impaired | Impaired | Year-to- | |||||||||||||||||||||||||||
Unpaid | loans | loans with | Related | Year-to- | date interest | ||||||||||||||||||||||||
contractual | Impaired | without an | an | allowance | date average | income | |||||||||||||||||||||||
principal | loan balance | allowance | allowance | recorded | loan balance | recognized | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 1,655 | $ | 1,655 | $ | 133 | $ | 1,522 | $ | 117 | $ | 1,674 | $ | - | |||||||||||||||
Construction and land | 6,619 | 4,884 | 4,884 | - | - | 6,878 | 190 | ||||||||||||||||||||||
Commercial real estate | 2,829 | 2,829 | 2,829 | - | - | 2,908 | 13 | ||||||||||||||||||||||
Commercial loans | 176 | 176 | 74 | 102 | 19 | 176 | - | ||||||||||||||||||||||
Agriculture loans | 234 | 234 | 234 | - | - | 238 | - | ||||||||||||||||||||||
Municipal loans | 772 | 706 | 706 | - | - | 706 | 15 | ||||||||||||||||||||||
Consumer loans | 84 | 84 | 38 | 46 | 18 | 92 | - | ||||||||||||||||||||||
Total impaired loans | $ | 12,369 | $ | 10,568 | $ | 8,898 | $ | 1,670 | $ | 154 | $ | 12,672 | $ | 218 | |||||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
Impaired | Impaired | Year-to- | |||||||||||||||||||||||||||
Unpaid | loans | loans with | Related | Year-to- | date interest | ||||||||||||||||||||||||
contractual | Impaired | without an | an | allowance | date average | income | |||||||||||||||||||||||
principal | loan balance | allowance | allowance | recorded | loan balance | recognized | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 782 | $ | 782 | $ | 326 | $ | 456 | $ | 82 | $ | 800 | $ | - | |||||||||||||||
Construction and land | 9,895 | 8,160 | 6,098 | 2,062 | 234 | 8,383 | 279 | ||||||||||||||||||||||
Commercial real estate | 2,936 | 2,936 | 278 | 2,658 | 140 | 3,046 | 18 | ||||||||||||||||||||||
Commercial loans | 4,148 | 4,148 | 154 | 3,994 | 488 | 192 | - | ||||||||||||||||||||||
Agriculture loans | - | - | - | - | - | - | - | ||||||||||||||||||||||
Municipal loans | 772 | 706 | 706 | - | - | 772 | 20 | ||||||||||||||||||||||
Consumer loans | 24 | 24 | 6 | 18 | 7 | 26 | - | ||||||||||||||||||||||
Total impaired loans | $ | 18,557 | $ | 16,756 | $ | 7,568 | $ | 9,188 | $ | 951 | $ | 13,219 | $ | 317 | |||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present information on the Company’s past due and non-accrual loans by loan class: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or | |||||||||||||||||||||||||||
delinquent | delinquent | more | Total past | Total past | |||||||||||||||||||||||||
and | and | delinquent | due loans | Non-accrual | due and non- | Total loans | |||||||||||||||||||||||
accruing | accruing | and accruing | accruing | loans | accrual loans | not past due | |||||||||||||||||||||||
One-to-four family residential real estate | 184 | 28 | - | 212 | $ | 1,650 | $ | 1,862 | $ | 126,192 | |||||||||||||||||||
Construction and land | - | - | - | - | 1,326 | 1,326 | 22,100 | ||||||||||||||||||||||
Commercial real estate | 391 | 870 | - | 1,261 | 2,565 | 3,826 | 113,199 | ||||||||||||||||||||||
Commercial loans | 408 | 62 | - | 470 | 176 | 646 | 63,603 | ||||||||||||||||||||||
Agriculture loans | - | 17 | - | 17 | 234 | 251 | 58,287 | ||||||||||||||||||||||
Municipal loans | - | - | - | - | 65 | 65 | 9,256 | ||||||||||||||||||||||
Consumer loans | 49 | 18 | - | 67 | 84 | 151 | 20,168 | ||||||||||||||||||||||
Total | $ | 1,032 | $ | 995 | $ | - | $ | 2,027 | $ | 6,100 | $ | 8,127 | $ | 412,805 | |||||||||||||||
Percent of gross loans | 0.24 | % | 0.24 | % | 0 | % | 0.48 | % | 1.45 | % | 1.93 | % | 98.07 | % | |||||||||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||||||||||||||
30-59 days | 60-89 days | 90 days or | |||||||||||||||||||||||||||
delinquent | delinquent | more | Total past | Total past | |||||||||||||||||||||||||
and | and | delinquent | due loans | Non-accrual | due and non- | Total loans | |||||||||||||||||||||||
accruing | accruing | and accruing | accruing | loans | accrual loans | not past due | |||||||||||||||||||||||
One-to-four family residential real estate | $ | 311 | $ | 793 | $ | - | $ | 1,104 | $ | 776 | $ | 1,880 | $ | 123,207 | |||||||||||||||
Construction and land | 18 | - | - | 18 | 2,165 | 2,183 | 21,593 | ||||||||||||||||||||||
Commercial real estate | - | 9 | - | 9 | 2,658 | 2,667 | 116,723 | ||||||||||||||||||||||
Commercial loans | 187 | - | - | 187 | 4,148 | 4,335 | 57,048 | ||||||||||||||||||||||
Agriculture loans | 23 | - | - | 23 | - | 23 | 62,264 | ||||||||||||||||||||||
Municipal loans | - | - | - | - | 65 | 65 | 8,781 | ||||||||||||||||||||||
Consumer loans | 85 | 11 | - | 96 | 24 | 120 | 18,480 | ||||||||||||||||||||||
Total | $ | 624 | $ | 813 | $ | - | $ | 1,437 | $ | 9,836 | $ | 11,273 | $ | 408,096 | |||||||||||||||
Percent of gross loans | 0.15 | % | 0.19 | % | 0 | % | 0.34 | % | 2.35 | % | 2.69 | % | 97.31 | % | |||||||||||||||
Risk Categories By Loan Class [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table provides information on the Company’s risk categories by loan class: | |||||||||||||||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||||||
Nonclassified | Classified | Nonclassified | Classified | ||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 124,129 | $ | 3,925 | $ | 121,949 | $ | 3,138 | |||||||||||||||||||||
Construction and land | 16,720 | 6,706 | 17,545 | 6,231 | |||||||||||||||||||||||||
Commercial real estate | 109,544 | 7,481 | 114,610 | 4,780 | |||||||||||||||||||||||||
Commercial loans | 53,324 | 10,925 | 51,436 | 9,947 | |||||||||||||||||||||||||
Agriculture loans | 56,869 | 1,669 | 60,624 | 1,663 | |||||||||||||||||||||||||
Municipal loans | 9,233 | 88 | 8,758 | 88 | |||||||||||||||||||||||||
Consumer loans | 20,235 | 84 | 18,107 | 493 | |||||||||||||||||||||||||
Total | 390,054 | 30,878 | 393,029 | 26,340 | |||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents information on loans that are classified as TDRs: | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||||||
Number of | Non-accrual | Accruing | Number of | Non-accrual | Accruing | ||||||||||||||||||||||||
loans | balance | balance | loans | balance | balance | ||||||||||||||||||||||||
One-to-four family residential real estate | 1 | $ | - | $ | 5 | 1 | $ | - | $ | 6 | |||||||||||||||||||
Construction and land | 7 | 616 | 3,558 | 7 | 627 | 5,995 | |||||||||||||||||||||||
Commercial real estate | 1 | - | 264 | 1 | - | 278 | |||||||||||||||||||||||
Municipal loans | 2 | - | 641 | 2 | - | 641 | |||||||||||||||||||||||
Total troubled debt restructurings | 11 | $ | 616 | $ | 4,468 | 11 | $ | 627 | $ | 6,920 | |||||||||||||||||||
Earnings_per_Share_Tables
Earnings per Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||
The shares used in the calculation of basic and diluted earnings per share are shown below: | ||||||||||||||
(Dollars in thousands, except per share amounts) | Three months ended | Nine months ended | ||||||||||||
September 30, | September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net earnings | $ | 2,174 | $ | 1,285 | $ | 5,950 | $ | 4,134 | ||||||
Weighted average common shares outstanding - basic (1) | 3,174,799 | 3,082,625 | 3,166,312 | 3,074,655 | ||||||||||
Assumed exercise of stock options (1) | 56,305 | 46,242 | 45,309 | 52,972 | ||||||||||
Weighted average common shares outstanding - diluted (1) | 3,231,104 | 3,128,867 | 3,211,621 | 3,127,627 | ||||||||||
Net earnings per share (1): | ||||||||||||||
Basic | $ | 0.68 | $ | 0.42 | $ | 1.88 | $ | 1.34 | ||||||
Diluted | $ | 0.67 | $ | 0.41 | $ | 1.85 | $ | 1.32 | ||||||
-1 | Share and per share values for the periods ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. | |||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
Fair value estimates of the Company’s financial instruments as of September 30, 2014 and December 31, 2013, including methods and assumptions utilized, are set forth below: | |||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||
Carrying | |||||||||||||||||
amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 13,365 | $ | 13,365 | $ | - | $ | - | $ | 13,365 | |||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 335,809 | 1,680 | 334,129 | - | 335,809 | ||||||||||||
Other securities | 4,385 | n/a | n/a | n/a | n/a | ||||||||||||
Loans, net | 415,864 | - | - | 422,971 | 422,971 | ||||||||||||
Loans held for sale, net | 10,233 | - | 10,233 | - | 10,233 | ||||||||||||
Mortgage servicing rights | 2,415 | - | 3,619 | - | 3,619 | ||||||||||||
Derivative financial instruments | 390 | - | 390 | - | 390 | ||||||||||||
Accrued interest receivable | 3,719 | - | 1,610 | 2,109 | 3,719 | ||||||||||||
Financial liabilities: | |||||||||||||||||
Non-maturity deposits | $ | -511,949 | $ | -511,949 | $ | - | $ | - | -511,949 | ||||||||
Time deposits | -176,386 | - | -176,026 | - | -176,026 | ||||||||||||
FHLB borrowings | -49,662 | - | -51,724 | - | -51,724 | ||||||||||||
Other borrowings | -33,643 | - | -30,732 | - | -30,732 | ||||||||||||
Accrued interest payable | -317 | - | -317 | - | -317 | ||||||||||||
As of December 31, 2013 | |||||||||||||||||
Carrying | |||||||||||||||||
amount | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 29,735 | $ | 29,735 | $ | - | $ | - | $ | 29,735 | |||||||
Investment securities: | |||||||||||||||||
Available-for-sale | 300,246 | 1,603 | 298,643 | - | 300,246 | ||||||||||||
Other securities | 5,271 | n/a | n/a | n/a | n/a | ||||||||||||
Loans, net | 414,016 | - | - | 420,475 | 420,475 | ||||||||||||
Loans held for sale, net | 7,864 | - | 7,864 | - | 7,864 | ||||||||||||
Mortgage servicing rights | 2,377 | - | 3,491 | - | 3,491 | ||||||||||||
Derivative financial instruments | 265 | - | 265 | - | 265 | ||||||||||||
Accrued interest receivable | 2,581 | - | 1,491 | 1,090 | 2,581 | ||||||||||||
Financial liabilities: | |||||||||||||||||
Non-maturity deposits | $ | -501,291 | $ | -501,291 | $ | - | $ | - | -501,291 | ||||||||
Time deposits | -186,195 | - | -186,222 | - | -186,222 | ||||||||||||
FHLB borrowings | -35,689 | - | -38,087 | - | -38,087 | ||||||||||||
Other borrowings | -33,055 | - | -29,351 | - | -29,351 | ||||||||||||
Derivative financial instruments | -78 | - | -78 | - | -78 | ||||||||||||
Accrued interest payable | -335 | - | -335 | - | -335 | ||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table represents the Company’s financial instruments that are measured at fair value on a recurring basis at September 30, 2014 and December 31, 2013, allocated to the appropriate fair value hierarchy: | |||||||||||||||||
(Dollars in thousands) | As of September 30, 2014 | ||||||||||||||||
Fair value hierarchy | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U. S. treasury securities | $ | 501 | $ | 501 | $ | - | $ | - | |||||||||
U. S. federal agency obligations | 22,651 | - | 22,651 | - | |||||||||||||
Municipal obligations, tax exempt | 110,635 | - | 110,635 | - | |||||||||||||
Municipal obligations, taxable | 60,299 | - | 60,299 | - | |||||||||||||
Mortgage-backed securities | 130,799 | - | 130,799 | - | |||||||||||||
Common stocks | 1,179 | 1,179 | - | - | |||||||||||||
Certificates of deposit | 9,745 | - | 9,745 | - | |||||||||||||
Derivative financial instruments | $ | 390 | $ | - | $ | 390 | $ | - | |||||||||
(Dollars in thousands) | As of December 31, 2013 | ||||||||||||||||
Fair value hierarchy | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U. S. treasury securities | $ | 500 | $ | 500 | $ | - | $ | - | |||||||||
U. S. federal agency obligations | 19,643 | - | 19,643 | - | |||||||||||||
Municipal obligations, tax exempt | 91,793 | - | 91,793 | - | |||||||||||||
Municipal obligations, taxable | 52,472 | - | 52,472 | - | |||||||||||||
Mortgage-backed securities | 125,593 | - | 125,593 | - | |||||||||||||
Common stocks | 1,103 | 1,103 | - | - | |||||||||||||
Certificates of deposit | 9,142 | - | 9,142 | - | |||||||||||||
Derivative financial instruments | 265 | - | 265 | - | |||||||||||||
Liabilities: | |||||||||||||||||
Derivative financial instruments | $ | (78 | ) | $ | - | $ | (78 | ) | $ | - | |||||||
Fair Value, Assets Measured on Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table represents the Company’s financial instruments that are measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013 allocated to the appropriate fair value hierarchy: | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
As of September 30, 2014 | Total | ||||||||||||||||
Fair value hierarchy | (losses)/ | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | gains | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 1,405 | $ | - | $ | - | $ | 1,405 | $ | -45 | |||||||
Commercial loans | 83 | - | - | 83 | -19 | ||||||||||||
Consumer loans | 28 | - | - | 28 | -10 | ||||||||||||
Loans held for sale, net | 10,233 | - | 10,233 | - | -2 | ||||||||||||
Real estate owned: | |||||||||||||||||
One-to-four family residential real estate | 40 | - | - | 40 | -22 | ||||||||||||
As of December 31, 2013 | Total | ||||||||||||||||
Fair value hierarchy | (losses)/ | ||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | gains | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 374 | $ | - | $ | - | $ | 374 | $ | -82 | |||||||
Construction and land | 1,828 | - | - | 1,828 | 154 | ||||||||||||
Commercial real estate | 2,518 | - | - | 2,518 | -140 | ||||||||||||
Commercial loans | 3,506 | - | - | 3,506 | -488 | ||||||||||||
Consumer loans | 11 | - | - | 11 | -8 | ||||||||||||
Loans held for sale, net | 7,864 | - | 7,864 | - | -41 | ||||||||||||
Real estate owned: | |||||||||||||||||
One-to-four family residential real estate | 210 | - | - | 210 | -109 | ||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for impaired loans measured at fair value on a non-recurring basis as of September 30, 2014 and December 31, 2013. | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Fair value | Valuation technique | Unboservable inputs | Range | ||||||||||||||
As of September 30, 2014 | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 1,405 | Sales comparison | Adjustment to appraised value | 10%-20 | % | |||||||||||
Commercial loans | 83 | Sales comparison | Adjustment to comparable sales | 20%-50 | % | ||||||||||||
Consumer loans | 28 | Sales comparison | Adjustment to appraised value | 20 | % | ||||||||||||
As of December 31, 2013 | |||||||||||||||||
Impaired loans: | |||||||||||||||||
One-to-four family residential real estate | $ | 374 | Sales comparison | Adjustment to appraised value | 0%-10 | % | |||||||||||
Construction and land | 1,828 | Sales comparison | Adjustment to appraised value | 25 | % | ||||||||||||
Commercial real estate | 2,518 | Sales comparison | Adjustment to appraised value | 10%-25 | % | ||||||||||||
Commercial loans | 3,506 | Sales comparison | Adjustment to comparable sales | 5%-40 | % | ||||||||||||
Consumer loans | 11 | Sales comparison | Adjustment to comparable sales | 0 | % | ||||||||||||
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross carrying amount | $10,695 | $10,900 |
Intangible assets, Accumulated amortization | -6,261 | -6,089 |
Intangible assets, Net carrying amount | 4,434 | 4,811 |
Core Deposits [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross carrying amount | 6,078 | 6,684 |
Intangible assets, Accumulated amortization | -4,368 | -4,592 |
Intangible assets, Net carrying amount | 1,710 | 2,092 |
Lease intangible asset [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross carrying amount | 350 | 350 |
Intangible assets, Accumulated amortization | -41 | -8 |
Intangible assets, Net carrying amount | 309 | 342 |
Mortgage Servicing Rights [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross carrying amount | 4,267 | 3,866 |
Intangible assets, Accumulated amortization | -1,852 | -1,489 |
Intangible assets, Net carrying amount | $2,415 | $2,377 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details 1) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets [Line Items] | ' |
Remainder of 2014 | $126 |
2015 | 429 |
2016 | 327 |
2017 | 289 |
2018 | 252 |
Thereafter | 596 |
Total | $2,019 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Details Textual) (USD $) | 1 Months Ended | |||
Nov. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Nov. 01, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Total deposits | ' | $688,335,000 | $687,486,000 | ' |
Finite-Lived Intangible Asset, Off-market Lease, Favorable, Gross | ' | ' | ' | 350,000 |
Business Acquisition, Date of Acquisition Agreement | 1-Nov-13 | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' | ' |
Citizens Bank [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Finite-Lived Core Deposits, Gross | ' | ' | ' | 1,700,000 |
Total deposits | ' | ' | ' | $181,900,000 |
Investments_Details
Investments (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | $333,109 | $301,739 |
Gross unrealized gains | 4,330 | 3,193 |
Gross unrealized losses | -1,630 | -4,686 |
Estimated fair value | 335,809 | 300,246 |
US Treasury Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 500 | 500 |
Gross unrealized gains | 1 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 501 | 500 |
Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 23,066 | 20,167 |
Gross unrealized gains | 14 | 10 |
Gross unrealized losses | -429 | -534 |
Estimated fair value | 22,651 | 19,643 |
Nontaxable Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 108,626 | 90,700 |
Gross unrealized gains | 2,136 | 1,712 |
Gross unrealized losses | -127 | -619 |
Estimated fair value | 110,635 | 91,793 |
Taxable Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 60,083 | 53,244 |
Gross unrealized gains | 565 | 270 |
Gross unrealized losses | -349 | -1,042 |
Estimated fair value | 60,299 | 52,472 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 130,502 | 127,384 |
Gross unrealized gains | 1,022 | 700 |
Gross unrealized losses | -725 | -2,491 |
Estimated fair value | 130,799 | 125,593 |
Certificates of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 9,745 | 9,142 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | 9,745 | 9,142 |
Common Stock [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost | 587 | 602 |
Gross unrealized gains | 592 | 501 |
Gross unrealized losses | 0 | 0 |
Estimated fair value | $1,179 | $1,103 |
Investments_Details_1
Investments (Details 1) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Number | Number | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
No. of securities | 188 | 267 |
Fair value, Less than 12 months | $58,916 | $164,963 |
Unrealized losses, Less than 12 months | -267 | -4,475 |
Fair value, 12 months or longer | 64,866 | 6,380 |
Unrealized losses, 12 months or longer | -1,363 | -211 |
Fair value, Total | 123,782 | 171,343 |
Unrealized losses, Total | -1,630 | -4,686 |
Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
No. of securities | 20 | 18 |
Fair value, Less than 12 months | 7,594 | 16,028 |
Unrealized losses, Less than 12 months | -40 | -436 |
Fair value, 12 months or longer | 14,326 | 2,149 |
Unrealized losses, 12 months or longer | -389 | -98 |
Fair value, Total | 21,920 | 18,177 |
Unrealized losses, Total | -429 | -534 |
Nontaxable Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
No. of securities | 61 | 91 |
Fair value, Less than 12 months | 10,163 | 24,496 |
Unrealized losses, Less than 12 months | -38 | -518 |
Fair value, 12 months or longer | 8,336 | 3,151 |
Unrealized losses, 12 months or longer | -89 | -101 |
Fair value, Total | 18,499 | 27,647 |
Unrealized losses, Total | -127 | -619 |
Taxable Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
No. of securities | 69 | 88 |
Fair value, Less than 12 months | 11,134 | 35,299 |
Unrealized losses, Less than 12 months | -77 | -1,030 |
Fair value, 12 months or longer | 15,231 | 1,080 |
Unrealized losses, 12 months or longer | -272 | -12 |
Fair value, Total | 26,365 | 36,379 |
Unrealized losses, Total | -349 | -1,042 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
No. of securities | 38 | 70 |
Fair value, Less than 12 months | 30,025 | 89,140 |
Unrealized losses, Less than 12 months | -112 | -2,491 |
Fair value, 12 months or longer | 26,973 | 0 |
Unrealized losses, 12 months or longer | -613 | 0 |
Fair value, Total | 56,998 | 89,140 |
Unrealized losses, Total | ($725) | ($2,491) |
Investments_Details_2
Investments (Details 2) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost, Due in less than one year | $15,173 | ' |
Amortized cost, Due after one year but within five years | 187,749 | ' |
Amortized cost, Due after five years but within ten years | 96,048 | ' |
Amortized cost, Due after ten years | 33,552 | ' |
Amortized cost, Total | 333,109 | ' |
Estimated fair value, Due in less than one year | 15,268 | ' |
Estimated fair value, Due after one year but within five years | 188,766 | ' |
Estimated fair value, Due after five years but within ten years | 97,096 | ' |
Estimated fair value, Due after ten years | 33,500 | ' |
Estimated fair value, Total | 335,809 | 300,246 |
Common Stock [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost, Total | 587 | ' |
Estimated fair value, Total | $1,179 | $1,103 |
Investments_Details_Textual
Investments (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Federal Home Loan Bank Stock | $2,400,000 | $3,200,000 |
Federal Reserve Bank Stock | 1,900,000 | 1,900,000 |
Other Assets, Miscellaneous | 111,000 | 111,000 |
Equity Method Investment, Ownership Percentage | 10.00% | ' |
Collateral Securities Repledged, Delivered, or Used | $191,400,000 | $171,200,000 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | $420,932 | ' | $419,369 | ' | ' | ' |
Net deferred loan costs and loans in process | 154 | ' | 187 | ' | ' | ' |
Allowance for loan losses | -5,222 | -5,149 | -5,540 | -5,126 | -4,905 | -4,581 |
Loans, net | 415,864 | ' | 414,016 | ' | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 64,249 | ' | 61,383 | ' | ' | ' |
Allowance for loan losses | -1,226 | -1,034 | -769 | -497 | -583 | -707 |
Loans, net | 64,249 | ' | 61,383 | ' | ' | ' |
Agriculture Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 58,538 | ' | 62,287 | ' | ' | ' |
Allowance for loan losses | -579 | -597 | -545 | -462 | -354 | -367 |
Loans, net | 58,538 | ' | 62,287 | ' | ' | ' |
Municipal Bonds [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 9,321 | ' | 8,846 | ' | ' | ' |
Allowance for loan losses | -56 | -58 | -47 | -94 | -97 | -107 |
Loans, net | 9,321 | ' | 8,846 | ' | ' | ' |
Consumer Loan [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 20,319 | ' | 18,600 | ' | ' | ' |
Allowance for loan losses | -136 | -176 | -134 | -118 | -159 | -159 |
Loans, net | 20,319 | ' | 18,600 | ' | ' | ' |
Residential Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 128,054 | ' | 125,087 | ' | ' | ' |
Allowance for loan losses | -583 | -596 | -732 | -592 | -577 | -714 |
Loans, net | 128,054 | ' | 125,087 | ' | ' | ' |
Construction Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 23,426 | ' | 23,776 | ' | ' | ' |
Allowance for loan losses | -843 | -812 | -1,343 | -1,405 | -1,256 | -1,214 |
Loans, net | 23,426 | ' | 23,776 | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 117,025 | ' | 119,390 | ' | ' | ' |
Allowance for loan losses | -1,799 | -1,876 | -1,970 | -1,958 | -1,879 | -1,313 |
Loans, net | $117,025 | ' | $119,390 | ' | ' | ' |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | $5,149 | $4,905 | $5,540 | $4,581 | ' |
Charge-offs | -96 | -96 | -976 | -494 | ' |
Recoveries | 19 | 117 | 58 | 239 | ' |
Provision for loan losses | 150 | 200 | 600 | 800 | ' |
Balance | 5,222 | 5,126 | 5,222 | 5,126 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 154 | ' | 154 | ' | 951 |
Collectively evaluated for loss | 5,068 | ' | 5,068 | ' | 4,589 |
Total | 5,222 | 5,126 | 5,222 | 5,126 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 10,568 | ' | 10,568 | ' | 16,756 |
Collectively evaluated for loss | 410,364 | ' | 410,364 | ' | 402,613 |
Total | 415,864 | ' | 415,864 | ' | 414,016 |
Commercial Loan [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 1,034 | 583 | 769 | 707 | ' |
Charge-offs | -12 | 0 | -783 | -200 | ' |
Recoveries | 1 | 2 | 2 | 19 | ' |
Provision for loan losses | 203 | -88 | 1,238 | -29 | ' |
Balance | 1,226 | 497 | 1,226 | 497 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 19 | ' | 19 | ' | 488 |
Collectively evaluated for loss | 1,207 | ' | 1,207 | ' | 281 |
Total | 1,226 | 497 | 1,226 | 497 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 176 | ' | 176 | ' | 4,148 |
Collectively evaluated for loss | 64,073 | ' | 64,073 | ' | 57,235 |
Total | 64,249 | ' | 64,249 | ' | 61,383 |
Agriculture Loans [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 597 | 354 | 545 | 367 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Provision for loan losses | -18 | 108 | 34 | 95 | ' |
Balance | 579 | 462 | 579 | 462 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 0 | ' | 0 | ' | 0 |
Collectively evaluated for loss | 579 | ' | 579 | ' | 545 |
Total | 579 | 462 | 579 | 462 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 234 | ' | 234 | ' | 0 |
Collectively evaluated for loss | 58,304 | ' | 58,304 | ' | 62,287 |
Total | 58,538 | ' | 58,538 | ' | 62,287 |
Municipal Bonds [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 58 | 97 | 47 | 107 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Provision for loan losses | -2 | -3 | 9 | -13 | ' |
Balance | 56 | 94 | 56 | 94 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 0 | ' | 0 | ' | 0 |
Collectively evaluated for loss | 56 | ' | 56 | ' | 47 |
Total | 56 | 94 | 56 | 94 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 706 | ' | 706 | ' | 706 |
Collectively evaluated for loss | 8,615 | ' | 8,615 | ' | 8,140 |
Total | 9,321 | ' | 9,321 | ' | 8,846 |
Consumer Loan [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 176 | 159 | 134 | 159 | ' |
Charge-offs | -81 | -48 | -170 | -150 | ' |
Recoveries | 11 | 8 | 31 | 23 | ' |
Provision for loan losses | 30 | -1 | 141 | 86 | ' |
Balance | 136 | 118 | 136 | 118 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 18 | ' | 18 | ' | 7 |
Collectively evaluated for loss | 119 | ' | 119 | ' | 127 |
Total | 136 | 118 | 136 | 118 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 84 | ' | 84 | ' | 24 |
Collectively evaluated for loss | 20,235 | ' | 20,235 | ' | 18,576 |
Total | 20,319 | ' | 20,319 | ' | 18,600 |
Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 596 | 577 | 732 | 714 | ' |
Charge-offs | -3 | -48 | -23 | -91 | ' |
Recoveries | 3 | 8 | 9 | 16 | ' |
Provision for loan losses | -13 | 55 | -135 | -47 | ' |
Balance | 583 | 592 | 583 | 592 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 117 | ' | 117 | ' | 82 |
Collectively evaluated for loss | 465 | ' | 465 | ' | 650 |
Total | 583 | 592 | 583 | 592 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 1,655 | ' | 1,655 | ' | 782 |
Collectively evaluated for loss | 126,399 | ' | 126,399 | ' | 124,305 |
Total | 128,054 | ' | 128,054 | ' | 125,087 |
Construction Loans [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 812 | 1,256 | 1,343 | 1,214 | ' |
Charge-offs | 0 | 0 | 0 | -53 | ' |
Recoveries | 4 | 99 | 11 | 181 | ' |
Provision for loan losses | 27 | 50 | -511 | 63 | ' |
Balance | 843 | 1,405 | 843 | 1,405 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 0 | ' | 0 | ' | 234 |
Collectively evaluated for loss | 843 | ' | 843 | ' | 1,109 |
Total | 843 | 1,405 | 843 | 1,405 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 4,884 | ' | 4,884 | ' | 8,160 |
Collectively evaluated for loss | 18,542 | ' | 18,542 | ' | 15,616 |
Total | 23,426 | ' | 23,426 | ' | 23,776 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Balance | 1,876 | 1,879 | 1,970 | 1,313 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 5 | 0 | ' |
Provision for loan losses | -77 | 79 | -176 | 645 | ' |
Balance | 1,799 | 1,958 | 1,799 | 1,958 | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 0 | ' | 0 | ' | 140 |
Collectively evaluated for loss | 1,799 | ' | 1,799 | ' | 1,830 |
Total | 1,799 | 1,958 | 1,799 | 1,958 | ' |
Loan balances: | ' | ' | ' | ' | ' |
Individually evaluated for loss | 2,829 | ' | 2,829 | ' | 2,936 |
Collectively evaluated for loss | 114,196 | ' | 114,196 | ' | 116,454 |
Total | $117,025 | ' | $117,025 | ' | $119,390 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | $12,369 | $18,557 |
Impaired loan balance | 10,568 | 16,756 |
Impaired loans without an allowance | 8,898 | 7,568 |
Impaired loans with an allowance | 1,670 | 9,188 |
Related allowance recorded | 154 | 951 |
Year-to-date average loan balance | 12,672 | 13,219 |
Year-to-date interest income recognized | 218 | 317 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 176 | 4,148 |
Impaired loan balance | 176 | 4,148 |
Impaired loans without an allowance | 74 | 154 |
Impaired loans with an allowance | 102 | 3,994 |
Related allowance recorded | 19 | 488 |
Year-to-date average loan balance | 176 | 192 |
Year-to-date interest income recognized | 0 | 0 |
Agriculture Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 234 | 0 |
Impaired loan balance | 234 | 0 |
Impaired loans without an allowance | 234 | 0 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 238 | 0 |
Year-to-date interest income recognized | 0 | 0 |
Municipal Bonds [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 772 | 772 |
Impaired loan balance | 706 | 706 |
Impaired loans without an allowance | 706 | 706 |
Impaired loans with an allowance | 0 | 0 |
Related allowance recorded | 0 | 0 |
Year-to-date average loan balance | 706 | 772 |
Year-to-date interest income recognized | 15 | 20 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 84 | 24 |
Impaired loan balance | 84 | 24 |
Impaired loans without an allowance | 38 | 6 |
Impaired loans with an allowance | 46 | 18 |
Related allowance recorded | 18 | 7 |
Year-to-date average loan balance | 92 | 26 |
Year-to-date interest income recognized | 0 | 0 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 1,655 | 782 |
Impaired loan balance | 1,655 | 782 |
Impaired loans without an allowance | 133 | 326 |
Impaired loans with an allowance | 1,522 | 456 |
Related allowance recorded | 117 | 82 |
Year-to-date average loan balance | 1,674 | 800 |
Year-to-date interest income recognized | 0 | 0 |
Construction Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 6,619 | 9,895 |
Impaired loan balance | 4,884 | 8,160 |
Impaired loans without an allowance | 4,884 | 6,098 |
Impaired loans with an allowance | 0 | 2,062 |
Related allowance recorded | 0 | 234 |
Year-to-date average loan balance | 6,878 | 8,383 |
Year-to-date interest income recognized | 190 | 279 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Unpaid contractual principal | 2,829 | 2,936 |
Impaired loan balance | 2,829 | 2,936 |
Impaired loans without an allowance | 2,829 | 278 |
Impaired loans with an allowance | 0 | 2,658 |
Related allowance recorded | 0 | 140 |
Year-to-date average loan balance | 2,908 | 3,046 |
Year-to-date interest income recognized | $13 | $18 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses (Details 3) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | $1,032 | $624 |
Loans, 60-89 days delinquent and accruing | 995 | 813 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 2,027 | 1,437 |
Loan, Non-accrual loans | 6,100 | 9,836 |
Loan, Total past due and non-accrual loans | 8,127 | 11,273 |
Loan, Total loans not past due | 412,805 | 408,096 |
Percent of gross loans, 30-59 days delinquent and accruing | 0.24% | 0.15% |
Percent of gross loans, 60-89 days delinquent and accruing | 0.24% | 0.19% |
Percent of gross loans, 90 days or more delinquent and accruing | 0.00% | 0.00% |
Percentage of Total past due loans accuring | 0.48% | 0.34% |
Percentage of Non-accrual loans | 1.45% | 2.35% |
Percentage of Total past due and non-accrual loans | 1.93% | 2.69% |
Percentage of Total loans not passt due | 98.07% | 97.31% |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 408 | 187 |
Loans, 60-89 days delinquent and accruing | 62 | 0 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 470 | 187 |
Loan, Non-accrual loans | 176 | 4,148 |
Loan, Total past due and non-accrual loans | 646 | 4,335 |
Loan, Total loans not past due | 63,603 | 57,048 |
Agriculture Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 0 | 23 |
Loans, 60-89 days delinquent and accruing | 17 | 0 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 17 | 23 |
Loan, Non-accrual loans | 234 | 0 |
Loan, Total past due and non-accrual loans | 251 | 23 |
Loan, Total loans not past due | 58,287 | 62,264 |
Municipal Bonds [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 0 | 0 |
Loans, 60-89 days delinquent and accruing | 0 | 0 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 0 | 0 |
Loan, Non-accrual loans | 65 | 65 |
Loan, Total past due and non-accrual loans | 65 | 65 |
Loan, Total loans not past due | 9,256 | 8,781 |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 49 | 85 |
Loans, 60-89 days delinquent and accruing | 18 | 11 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 67 | 96 |
Loan, Non-accrual loans | 84 | 24 |
Loan, Total past due and non-accrual loans | 151 | 120 |
Loan, Total loans not past due | 20,168 | 18,480 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 184 | 311 |
Loans, 60-89 days delinquent and accruing | 28 | 793 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 212 | 1,104 |
Loan, Non-accrual loans | 1,650 | 776 |
Loan, Total past due and non-accrual loans | 1,862 | 1,880 |
Loan, Total loans not past due | 126,192 | 123,207 |
Construction Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 0 | 18 |
Loans, 60-89 days delinquent and accruing | 0 | 0 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 0 | 18 |
Loan, Non-accrual loans | 1,326 | 2,165 |
Loan, Total past due and non-accrual loans | 1,326 | 2,183 |
Loan, Total loans not past due | 22,100 | 21,593 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans, 30-59 days delinquent and accruing | 391 | 0 |
Loans, 60-89 days delinquent and accruing | 870 | 9 |
Loans, 90 days or more delinquent and accruing | 0 | 0 |
Loan, Total past due loans accruing | 1,261 | 9 |
Loan, Non-accrual loans | 2,565 | 2,658 |
Loan, Total past due and non-accrual loans | 3,826 | 2,667 |
Loan, Total loans not past due | $113,199 | $116,723 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses (Details 4) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans and Leases Receivable, Gross, Total | $420,932 | $419,369 |
Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 390,054 | 393,029 |
Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 30,878 | 26,340 |
Municipal Bonds [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 9,321 | 8,846 |
Municipal Bonds [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 9,233 | 8,758 |
Municipal Bonds [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 88 | 88 |
Commercial Loan [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 64,249 | 61,383 |
Commercial Loan [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 53,324 | 51,436 |
Commercial Loan [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 10,925 | 9,947 |
Agriculture Loans [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 58,538 | 62,287 |
Agriculture Loans [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 56,869 | 60,624 |
Agriculture Loans [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 1,669 | 1,663 |
Consumer Loan [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 20,319 | 18,600 |
Consumer Loan [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 20,235 | 18,107 |
Consumer Loan [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 84 | 493 |
Residential Real Estate [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 128,054 | 125,087 |
Residential Real Estate [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 124,129 | 121,949 |
Residential Real Estate [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 3,925 | 3,138 |
Construction Loans [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 23,426 | 23,776 |
Construction Loans [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 16,720 | 17,545 |
Construction Loans [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 6,706 | 6,231 |
Commercial Real Estate [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 117,025 | 119,390 |
Commercial Real Estate [Member] | Loans Receivables Non Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | 109,544 | 114,610 |
Commercial Real Estate [Member] | Loans Receivables Classified [Member] | ' | ' |
Loans and Leases Receivable, Gross, Total | $7,481 | $4,780 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses (Details 5) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Number | Number | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, Number of loans | 11 | 11 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | $616 | $627 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 4,468 | 6,920 |
Municipal Bonds [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, Number of loans | 2 | 2 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 641 | 641 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, Number of loans | 1 | 1 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 5 | 6 |
Construction Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, Number of loans | 7 | 7 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 616 | 627 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | 3,558 | 5,995 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, Number of loans | 1 | 1 |
Financing Receivable, Modifications, Recorded Investment, Non Accrual Balance | 0 | 0 |
Financing Receivable, Modifications, Recorded Investment, Accruing Balance | $264 | $278 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses (Details Textual) (USD $) | 9 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Mortgage Loans on Real Estate [Member] | Mortgage Loans on Real Estate [Member] | Mortgage Repurchase [Member] | Minimum [Member] | Maximum [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related allowance recorded | $154,000 | $951,000 | ' | $0 | $234,000 | ' | ' | ' | $117,000 | ' | $117,000 | ' | $82,000 |
Financing Receivable Outstanding Unpaid Principal Balance | ' | ' | ' | ' | ' | ' | ' | ' | 364,500,000 | ' | 364,500,000 | ' | 338,300,000 |
Mortgage Loans On Real Estate Reserve Amount | ' | ' | ' | ' | ' | 5,000 | ' | ' | 454,000 | ' | 454,000 | ' | 468,000 |
Provision For Mortgage Repurchase Reserve | ' | ' | ' | ' | ' | ' | ' | ' | 237,000 | 189,000 | 696,000 | 536,000 | ' |
Provision For Mortgage Loan losses | 19,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable Loan Balance Charged Off | ' | ' | ' | ' | ' | ' | 10,600,000 | 16,800,000 | ' | ' | ' | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | ' | ' | $278,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_per_Share_Details
Earnings per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Basic And Diluted Earning Per Share [Line Items] | ' | ' | ' | ' | ||||
Net earnings | $2,174 | $1,285 | $5,950 | $4,134 | ||||
Weighted average common shares outstanding - basic (in shares) | 3,174,799 | [1] | 3,082,625 | [1] | 3,166,312 | [1] | 3,074,655 | [1] |
Assumed exercise of stock options | 56,305 | [1] | 46,242 | [1] | 45,309 | [1] | 52,972 | [1] |
Weighted average common shares outstanding - diluted (in shares) | 3,231,104 | [1] | 3,128,867 | [1] | 3,211,621 | [1] | 3,127,627 | [1] |
Net earnings per share : | ' | ' | ' | ' | ||||
Basic (in dollars per share) | $680 | [1],[2] | $420 | [1],[2] | $1,880 | [1],[2] | $1,340 | [1],[2] |
Diluted (in dollars per share) | $670 | [1],[2] | $410 | [1],[2] | $1,850 | [1],[2] | $1,320 | [1],[2] |
[1] | Share and per share values for the periods ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. | |||||||
[2] | Per share amounts for the period ended September 30, 2013 have been adjusted to give effect to the 5% stock dividend paid during December 2013. |
Earnings_per_Share_Details_Tex
Earnings per Share (Details Textual) | 9 Months Ended |
Sep. 30, 2014 | |
Basic And Diluted Earning Per Share [Line Items] | ' |
Stock Dividend Rate Percentage | 5.00% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments and Fair Value Measurements (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial assets: Carrying amount | ' | ' |
Cash and cash equivalents | $13,365 | $29,735 |
Investment securities: Carrying amount | ' | ' |
Available-for-sale | 335,809 | 300,246 |
Other securities | 4,385 | 5,271 |
Loans, net | 415,864 | 414,016 |
Loans held for sale, net | 10,233 | 7,864 |
Mortgage servicing rights | 2,415 | 2,377 |
Derivative financial instruments | 390 | 265 |
Accrued interest receivable | 3,719 | 2,581 |
Financial liabilities: Carrying amount | ' | ' |
Non-maturity deposits | -511,949 | -501,291 |
Time deposits | -176,386 | -186,195 |
FHLB borrowings | -49,662 | -35,689 |
Other borrowings | -33,642 | -33,055 |
Derivative financial instruments | ' | -78 |
Accrued interest payable | -317 | -335 |
Financial assets: Fair Value Disclosure | ' | ' |
Cash and cash equivalents | 13,365 | 29,735 |
Available-for-sale | 335,809 | 300,246 |
Loans, net | 422,971 | 420,475 |
Loans held for sale, net | 10,233 | 7,864 |
Mortgage servicing rights | 3,619 | 3,491 |
Derivative financial instruments | 390 | 265 |
Accrued interest receivable | 3,719 | 2,581 |
Financial liabilities: Fair Value Disclosure | ' | ' |
Non-maturity deposits | -511,949 | -501,291 |
Time deposits | -176,026 | -186,222 |
FHLB borrowings | -51,724 | -38,087 |
Other borrowings | -30,732 | -29,351 |
Derivative financial instruments | ' | -78 |
Accrued interest payable | -317 | -335 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Investment securities: Carrying amount | ' | ' |
Available-for-sale | 1,680 | 1,603 |
Derivative financial instruments | 0 | 0 |
Financial liabilities: Carrying amount | ' | ' |
Derivative financial instruments | ' | 0 |
Accrued interest payable | 0 | 0 |
Financial assets: Fair Value Disclosure | ' | ' |
Cash and cash equivalents | 13,365 | 29,735 |
Available-for-sale | 1,680 | 1,603 |
Loans, net | 0 | 0 |
Loans held for sale, net | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities: Fair Value Disclosure | ' | ' |
Non-maturity deposits | -511,949 | -501,291 |
Time deposits | 0 | 0 |
FHLB borrowings | 0 | 0 |
Other borrowings | 0 | 0 |
Derivative financial instruments | ' | 0 |
Accrued interest payable | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Investment securities: Carrying amount | ' | ' |
Available-for-sale | 334,129 | 298,643 |
Derivative financial instruments | 390 | 265 |
Financial liabilities: Carrying amount | ' | ' |
Derivative financial instruments | ' | -78 |
Accrued interest payable | -317 | -335 |
Financial assets: Fair Value Disclosure | ' | ' |
Cash and cash equivalents | 0 | 0 |
Available-for-sale | 334,129 | 298,643 |
Loans, net | 0 | 0 |
Loans held for sale, net | 10,233 | 7,864 |
Mortgage servicing rights | 3,619 | 3,491 |
Derivative financial instruments | 390 | 265 |
Accrued interest receivable | 1,610 | 1,491 |
Financial liabilities: Fair Value Disclosure | ' | ' |
Non-maturity deposits | 0 | 0 |
Time deposits | -176,026 | -186,222 |
FHLB borrowings | -51,724 | -38,087 |
Other borrowings | -30,732 | -29,351 |
Derivative financial instruments | ' | -78 |
Accrued interest payable | -317 | -335 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Investment securities: Carrying amount | ' | ' |
Available-for-sale | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Financial liabilities: Carrying amount | ' | ' |
Derivative financial instruments | ' | 0 |
Accrued interest payable | 0 | 0 |
Financial assets: Fair Value Disclosure | ' | ' |
Cash and cash equivalents | 0 | 0 |
Available-for-sale | 0 | 0 |
Loans, net | 422,971 | 420,475 |
Loans held for sale, net | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Accrued interest receivable | 2,109 | 1,090 |
Financial liabilities: Fair Value Disclosure | ' | ' |
Non-maturity deposits | 0 | 0 |
Time deposits | 0 | 0 |
FHLB borrowings | 0 | 0 |
Other borrowings | 0 | 0 |
Derivative financial instruments | ' | 0 |
Accrued interest payable | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments and Fair Value Measurements (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Available-for-sale securities | $335,809 | $300,246 |
Derivative financial instruments | 390 | 265 |
Liabilities: | ' | ' |
Derivative financial instruments | ' | -78 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Derivative financial instruments | 390 | 265 |
Liabilities: | ' | ' |
Derivative financial instruments | ' | -78 |
Agency Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 22,651 | 19,643 |
Agency Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 22,651 | 19,643 |
Nontaxable Municipal Bonds [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 110,635 | 91,793 |
Nontaxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 110,635 | 91,793 |
Taxable Municipal Bonds [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 60,299 | 52,472 |
Taxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 60,299 | 52,472 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 130,799 | 125,593 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 130,799 | 125,593 |
Certificates of Deposit [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 9,745 | 9,142 |
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 9,745 | 9,142 |
Common Stock [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 1,179 | 1,103 |
Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 1,179 | 1,103 |
US Treasury Securities [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 501 | 500 |
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 501 | 500 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Derivative financial instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative financial instruments | ' | 0 |
Fair Value, Inputs, Level 1 [Member] | Agency Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Nontaxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Taxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 1,179 | 1,103 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 501 | 500 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Derivative financial instruments | 390 | 265 |
Liabilities: | ' | ' |
Derivative financial instruments | ' | -78 |
Fair Value, Inputs, Level 2 [Member] | Agency Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 22,651 | 19,643 |
Fair Value, Inputs, Level 2 [Member] | Nontaxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 110,635 | 91,793 |
Fair Value, Inputs, Level 2 [Member] | Taxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 60,299 | 52,472 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 130,799 | 125,593 |
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 9,745 | 9,142 |
Fair Value, Inputs, Level 2 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Derivative financial instruments | 0 | 0 |
Liabilities: | ' | ' |
Derivative financial instruments | ' | 0 |
Fair Value, Inputs, Level 3 [Member] | Agency Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Nontaxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Taxable Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Common Stock [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets: | ' | ' |
Available-for-sale securities | $0 | $0 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments and Fair Value Measurements (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Assets: | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | $10,233 | $7,864 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets: | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 10,233 | 7,864 |
Gain Loss On Loans Held For Sale Fair Value Disclosure | -2 | -41 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 83 | 3,506 |
Gain Loss On Impaired Loans Fair Value Disclosure | -19 | -488 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 28 | 11 |
Gain Loss On Impaired Loans Fair Value Disclosure | -10 | -8 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 2,518 |
Gain Loss On Impaired Loans Fair Value Disclosure | ' | -140 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 1,405 | 374 |
Gain Loss On Impaired Loans Fair Value Disclosure | -45 | -82 |
Real Estate Owned Fair Value Disclosure | 40 | 210 |
Gain Loss On Real Estate Owned Fair Value Disclosure | -22 | -109 |
Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 1,828 |
Gain Loss On Impaired Loans Fair Value Disclosure | ' | 154 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets: | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Real Estate Owned Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets: | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 10,233 | 7,864 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 0 | 0 |
Real Estate Owned Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets: | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 83 | 3,506 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 28 | 11 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | 2,518 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Real Estate [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | 1,405 | 374 |
Real Estate Owned Fair Value Disclosure | 40 | 210 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction Loans [Member] | ' | ' |
Assets: | ' | ' |
Impaired loans | ' | $1,828 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments and Fair Value Measurements (Details 3) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Commercial Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired Loans Fair Value Disclosure | ' | $2,518 |
Fair Value Measurements, Valuation Techniques | ' | 'Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | ' | 'Adjustment to appraised value |
Residential Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired Loans Fair Value Disclosure | 1,405 | 374 |
Fair Value Measurements, Valuation Techniques | 'Sales comparison | 'Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | 'Adjustment to appraised value | 'Adjustment to appraised value |
Construction Loans [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired Loans Fair Value Disclosure | ' | 1,828 |
Fair Value Measurements, Valuation Techniques | ' | 'Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | ' | 'Adjustment to appraised value |
Fair Value Measurements Sales Comparison Range | ' | 25.00% |
Commercial Loan [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired Loans Fair Value Disclosure | 83 | 3,506 |
Fair Value Measurements, Valuation Techniques | 'Sales comparison | 'Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | 'Adjustment to comparable sales | 'Adjustment to comparable sales |
Consumer Loan [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired Loans Fair Value Disclosure | $28 | $11 |
Fair Value Measurements, Valuation Techniques | 'Sales comparison | 'Sales comparison |
Fair Value Measurements, Changes in Valuation Techniques | 'Adjustment to appraised value | 'Adjustment to comparable sales |
Fair Value Measurements Sales Comparison Range | 20.00% | 0.00% |
Maximum [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | ' | 25.00% |
Maximum [Member] | Residential Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | 20.00% | 10.00% |
Maximum [Member] | Commercial Loan [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | 50.00% | 40.00% |
Minimum [Member] | Commercial Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | ' | 10.00% |
Minimum [Member] | Residential Real Estate [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | 10.00% | 0.00% |
Minimum [Member] | Commercial Loan [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements Sales Comparison Range | 20.00% | 5.00% |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments and Fair Value Measurements (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, Related Allowance | $154,000 | $951,000 |
Impaired Loans Carrying Value | $10,600,000 | $16,800,000 |
Impact_of_Recent_Accounting_Pr1
Impact of Recent Accounting Pronouncements (Details Textual) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Standards Update 2013-11 [Member] | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' |
New Accounting Pronouncement or Change in Accounting Principle, Description | 'In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or Tax Credit Carryforward Exists. To eliminate variance in practice, ASU 2013-11 provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU became effective for annual and interim periods beginning after December 15, 2013. Adoption of ASU 2013-11 did not have a significant impact on the Company’s consolidated financial statements. |
Accounting Standards Update 2014-04 [Member] | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' |
New Accounting Pronouncement or Change in Accounting Principle, Description | 'In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. These amendments require companies to disclose the amount of foreclosed residential real estate property held and the recorded investment in consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. The ASU also defines when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The amendments are effective for interim and annual periods beginning January 1, 2015. The adoption of ASU 2014-04 is not expected to have a significant effect on the Company's consolidated financial statements. |
Accounting Standards Update 2014-09 [Member] | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' |
New Accounting Pronouncement or Change in Accounting Principle, Description | 'In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The main provisions of the update require the identification of performance obligations within a contract and require the recognition of revenue based on a stand-alone allocation of contract revenue to each performance obligation. Performance obligations may be satisfied and revenue recognized over a period of time if: 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs, or 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date. For public entities the amendments of the update are effective for interim and annual reporting periods beginning after December 15, 2016. The adoption of ASU 2014-09 is not expected to have a significant effect on the Company's consolidated financial statements. |
Accounting Standards Update 2014-11 [Member] | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' |
New Accounting Pronouncement or Change in Accounting Principle, Description | 'In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments change the accounting for repurchase-to-maturity repurchase transactions to secured borrowing accounting. ASU 2014-11 also requires additional disclosures for repurchase agreements and securities lending arrangements. The amendments are effective for interim and annual periods beginning after December 15, 2014. The adoption of ASU 2014-11 is not expected to have a significant effect on the Company's consolidated financial statements. |