Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 07, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'FNB BANCORP/CA/ | ' |
Entity Central Index Key | '0001163199 | ' |
Trading Symbol | 'fnbg | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 3,763,964 |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONSOLIDATED_BALANCE_SHEETS_UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $18,368 | $27,861 |
Interest-bearing time deposits with financial institutions | 6,979 | 13,216 |
Securities available-for-sale, at fair value | 285,610 | 234,945 |
Loans, net of allowance for loan losses of $9,748 and $9,124 on September 30, 2013 and December 31, 2012 | 558,164 | 541,563 |
Bank premises, equipment, and leasehold improvements, net | 11,493 | 12,706 |
Premises, equipment, leasehold for sale | 1,138 | ' |
Bank owned life insurance, net | 12,065 | 11,785 |
Other equity securities | 5,300 | 5,464 |
Accrued interest receivable | 3,855 | 3,760 |
Other real estate owned, net | 6,675 | 6,650 |
Goodwill | 1,841 | 1,841 |
Prepaid expenses | 741 | 1,372 |
Other assets | 14,822 | 14,177 |
Total assets | 927,051 | 875,340 |
Deposits | ' | ' |
Demand, noninterest bearing | 191,665 | 178,384 |
Demand, interest bearing | 71,815 | 75,465 |
Savings and money market | 387,275 | 343,437 |
Time | 130,369 | 171,066 |
Total deposits | 781,124 | 768,352 |
Federal Home Loan Bank advances | 44,000 | 1,220 |
Accrued expenses and other liabilities | 9,109 | 10,410 |
Total liabilities | 834,233 | 779,982 |
Stockholders' equity | ' | ' |
Preferred stock - series C - no par value, authorized and outstanding 9,450 and 12,600 at September 30, 2013 and December 31, 2012, respectively (liquidation preference of $1,000 per share plus accrued dividends) | 9,450 | 12,600 |
Common stock, no par value, authorized 10,000,000 shares; issued and outstanding 3,763,271 shares at September 30, 2013 and 3,698,612 shares at December 31, 2012 | 53,822 | 52,610 |
Retained earnings | 30,218 | 26,280 |
Accumulated other comprehensive (loss) income | -672 | 3,868 |
Total stockholders' equity | 92,818 | 95,358 |
Total liabilities and stockholders' equity | $927,051 | $875,340 |
CONSOLIDATED_BALANCE_SHEETS_UN1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for loan losses (in dollars) | $9,748 | $9,124 |
Preferred stock - series C - par value (in dollars per share) | ' | ' |
Preferred stock - series C - shares authorized | 9,450 | 12,600 |
Preferred stock - series C - outstanding | 9,450 | 12,600 |
Preferred Stock, series C, Liquidation preference per share (in dollars per share) | $1,000 | $1,000 |
Common stock, no par value (in dollars per share) | ' | ' |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,763,271 | 3,698,612 |
Common stock, shares outstanding | 3,763,271 | 3,698,612 |
CONSOLIDATED_STATEMENTS_OF_EAR
CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income: | ' | ' | ' | ' |
Interest and fees on loans | $7,808 | $7,208 | $23,986 | $20,721 |
Interest on taxable securities | 911 | 644 | 2,389 | 1,874 |
Interest on tax-exempt securities | 505 | 503 | 1,514 | 1,520 |
Interest time deposits-other financial institutions | 35 | 6 | 125 | 6 |
Total interest income | 9,259 | 8,361 | 28,014 | 24,121 |
Interest expense: | ' | ' | ' | ' |
Interest Federal Home Loan Bank advances | 5 | 4 | 5 | 4 |
Deposits | 555 | 659 | 1,876 | 1,996 |
Total interest expense | 560 | 663 | 1,881 | 2,000 |
Net interest income | 8,699 | 7,698 | 26,133 | 22,121 |
Provision for loan losses | 225 | 400 | 1,335 | 1,200 |
Net interest income after provision for loan losses | 8,474 | 7,298 | 24,798 | 20,921 |
Noninterest income: | ' | ' | ' | ' |
Service charges | 658 | 722 | 1,993 | 2,218 |
Credit card fees | 6 | 114 | 16 | 422 |
Net gain on sale of available-for-sale securities | 37 | 89 | 152 | 898 |
Bank - owned life insurance earnings | 90 | 97 | 279 | 675 |
Bargain purchase gain | ' | 3,666 | ' | 3,666 |
Other income | 187 | 76 | 606 | 220 |
Total noninterest income | 978 | 4,764 | 3,046 | 8,099 |
Noninterest expense: | ' | ' | ' | ' |
Salaries and employee benefits | 4,099 | 3,732 | 12,827 | 11,151 |
Occupancy expense | 812 | 606 | 2,620 | 1,804 |
Equipment expense | 387 | 423 | 1,171 | 1,301 |
Professional fees | 405 | 325 | 1,212 | 1,296 |
FDIC assessment | 180 | 160 | 540 | 496 |
Acquisition related expense | ' | 250 | ' | 425 |
Telephone, postage and supplies | 271 | 295 | 985 | 844 |
Operating losses | 29 | 14 | 54 | 66 |
Advertising | 70 | 81 | 363 | 256 |
Bankcard expenses | ' | 114 | 1 | 427 |
Data processing expense | 163 | 110 | 489 | 386 |
Low income housing expense | 110 | 69 | 329 | 208 |
Surety insurance | 77 | 96 | 198 | 220 |
Directors expense | 63 | 63 | 189 | 189 |
Gain on sale of other real estate owned | ' | ' | ' | -4 |
Other real estate owned expense | 22 | 5 | 100 | 56 |
Other expense | 262 | 288 | 996 | 1,061 |
Total noninterest expense | 6,950 | 6,631 | 22,074 | 20,182 |
Earnings before provision for income tax expense | 2,502 | 5,431 | 5,770 | 8,838 |
(Benefit) provision for income tax expense | -629 | 490 | 330 | 1,381 |
Net earnings | 3,131 | 4,941 | 5,440 | 7,457 |
Dividends and discount accretion on preferred stock | 251 | 158 | 581 | 501 |
Net earnings available to common stockholders | $2,880 | $4,783 | $4,859 | $6,956 |
Earnings per share data: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.77 | $1.30 | $1.30 | $1.89 |
Diluted (in dollars per share) | $0.75 | $1.27 | $1.27 | $1.86 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic (in shares) | 3,761 | 3,692 | 3,735 | 3,689 |
Diluted (in shares) | 3,852 | 3,759 | 3,824 | 3,745 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS) (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings | $3,131 | $4,941 | $5,440 | $7,457 |
Unrealized holding gain on available-for-sale securities net of tax of $19, ($582), $3,093 and ($664) | -27 | 837 | -4,450 | 956 |
Reclassification adjustment for gain on available-for-sale securities sold, net of tax of $15 and $62 for three and nine months ended September 30, 2013, and $36 and $368 for three and nine months ended September 30, 2012, respectively | -22 | -53 | -90 | -530 |
Total comprehensive earnings | $3,082 | $5,725 | $900 | $7,883 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (LOSS)(UNAUDITED) (Parentheticals) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Tax on unrealized holding gain on available-for-sale securities (in dollars) | $19 | ($582) | $3,093 | ($664) |
Tax on reclassification adjustment for gain on available-for-sale (in dollars) | $15 | $36 | $62 | $368 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flow from operating activities: | ' | ' |
Net earnings | $5,440 | $7,457 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Net gain on sale of securities available-for-sale | -152 | -898 |
Depreciation, amortization and accretion | 2,803 | 2,585 |
Gain on sale of other real estate owned | ' | -4 |
Stock-based compensation expense | 192 | 166 |
Earnings on bank owned life insurance | -279 | -46 |
Provision for loan losses | 1,335 | 1,200 |
Bargain purchase gain | ' | -3,666 |
(Increase) decrease in accrued interest receivable | -95 | 372 |
Decrease in prepaid expense | 631 | 594 |
Increase in other assets | -319 | -977 |
Increase in accrued expenses and other liabilities | 1,478 | 242 |
Net cash provided by operating activities | 11,034 | 7,025 |
Cash flows from investing activities | ' | ' |
Cash paid for acquisition, net of cash acquired | ' | -18,374 |
Purchase of securities available-for-sale | -93,256 | -64,866 |
Proceeds from matured/called/sold securities available-for-sale | 33,180 | 38,136 |
Net investment, (redemption), in other equity securities | 164 | -1,280 |
Maturities of time deposits of other banks | 6,237 | 17,096 |
Proceeds from sale of other real estate owned | ' | 832 |
Net investment in other real estate owned | -25 | -13 |
Net (increase) in loans | -17,936 | -1,835 |
Increase in bank-owned life insurance | ' | -2,124 |
Purchases of bank premises, equipment, leasehold improvements | -873 | -582 |
Proceeds from sale of equipment | 13 | ' |
Net cash used in investing activities | -72,496 | -33,010 |
Cash flows from financing activities | ' | ' |
Net increase in demand and savings deposits | 53,469 | 68,687 |
Net decrease in time deposits | -40,697 | -6,170 |
Increase (decrease) in FHLB advances | 42,780 | -3,369 |
Dividends paid on common stock | -677 | -421 |
Exercise of stock options | 693 | 88 |
Net cash provided by financing activities | 51,969 | 58,314 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -9,493 | 32,329 |
Cash and cash equivalents at beginning of period | 27,861 | 38,474 |
Cash and cash equivalents at end of period | 18,368 | 70,803 |
Additional cash flow information: | ' | ' |
Interest paid | 1,977 | 1,868 |
Income taxes paid | 575 | 1,685 |
Tax benefit on exercise of stock options | 164 | 22 |
Non-cash investing and financing activities: | ' | ' |
Accrued dividends | 376 | 246 |
Change in unrealized gain in available for-sale securities, net of tax | -4,540 | 956 |
Preferred Stock, Series C | ' | ' |
Cash flows from financing activities | ' | ' |
Redemption of preferred stock series | -3,150 | ' |
Dividends paid on preferred stock series | ($449) | ($501) |
NOTE_A_BASIS_OF_PRESENTATION
NOTE A - BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
Basis Of Presentation [Abstract] | ' |
BASIS OF PRESENTATION | ' |
NOTE A – BASIS OF PRESENTATION | |
FNB Bancorp (the “Company”) is a bank holding company registered under the Bank Holding Company Act of 1956, as amended. The Company was incorporated under the laws of the State of California on February 28, 2001. The consolidated financial statements include the accounts of FNB Bancorp and its wholly-owned subsidiary, First National Bank of Northern California (the “Bank”). The Bank provides traditional banking services in San Mateo and San Francisco counties. | |
All intercompany transactions and balances have been eliminated in consolidation. The financial statements include all adjustments of a normal and recurring nature, which are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations for the interim periods presented. | |
The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and footnotes normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America. Accordingly, these financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2012. Results of operations for interim periods are not necessarily indicative of results for the full year. |
NOTE_B_STOCK_OPTION_PLANS
NOTE B - STOCK OPTION PLANS | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' |
STOCK OPTION PLANS | ' |
NOTE B – STOCK OPTION PLANS | |
Stock option expense is recorded based on the fair value of option contracts issued. The fair value is determined by the expected life, the risk free interest rate, the volatility of the Company’s stock price and the level of dividends the Company is expected to pay. | |
The expected term of options granted is derived from historical plan behavior and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U. S. Treasury yield curve in effect at the time of the grant. | |
The amount of compensation expense for options recorded in the quarter ended September 30, 2013 was $70,000, and $44,000 for the quarter ended September 30, 2012. There was an income tax benefit of $43,000 recognized in the statements of earnings for the quarter ended September 30, 2013, and none for the quarter ended September 30, 2012. There was an income tax benefit of $164,000 for the nine months ended September 30, 2013, and $22,000 for the nine months ended September 30, 2012, respectively. The amount of compensation expense for options recorded in the nine months ended September 30, 2013 and September 30, 2012 was $192,000 and $166,000, respectively. | |
The intrinsic value for options exercised during the three months ended September 30, 2013 was $6,000. The intrinsic value for options exercised during the nine months ended September 30, 2013 was $577,000.The intrinsic value for options exercisable during the nine months ended September 30, 2013 was $1,692,000. The intrinsic value for options exercised for the nine months ended September 30, 2012 was $84,000. The fair value assumptions was determined using the Black-Scholes model. The exercise price was $19.30, the expected term was derived from the output of the model, and is 8.75 years, which is the expected period of time that options granted are expected to be outstanding. The risk-free rate is based on the U.S. Treasury yield curve at the time of the grant, or 3.20% for options granted in 2013. Volatility was calculated using historical price changes on a monthly basis over the expected life of the option. The options granted estimated value was $10.44. There were 60,785 options granted for the first nine months ended September 30, 2013 and no options granted for the nine months ended September 30, 2012. | |
The amount of total unrecognized compensation expense related to non-vested options at September 30, 2013 was $697,000, and the weighted average period over which it will be amortized is 3.6 years. |
NOTE_C_EARNINGS_PER_SHARE_CALC
NOTE C - EARNINGS PER SHARE CALCULATION | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
EARNINGS PER SHARE CALCULATION | ' | ||||||||||||||||
NOTE C – EARNINGS PER SHARE CALCULATION | |||||||||||||||||
Earnings per common share (EPS) is computed based on the weighted average number of common shares outstanding during the period. Basic EPS excludes dilution and is computed by dividing net earnings available to common stockholders (after deducting dividends and related accretion on preferred stock) by the weighted average of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. All common stock equivalents are anti-dilutive when a net loss occurs. | |||||||||||||||||
Earnings per share have been computed based on the following: | |||||||||||||||||
(All amounts in thousands) | Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net earnings | $ | 3,131 | $ | 4,941 | $ | 5,440 | $ | 7,457 | |||||||||
Dividends and discount accretion on preferred stock | 251 | 158 | 581 | 501 | |||||||||||||
Net earnings available to common shareholders | $ | 2,880 | $ | 4,783 | $ | 4,859 | $ | 6,956 | |||||||||
Average number of shares outstanding | 3,761 | 3,692 | 3,735 | 3,689 | |||||||||||||
Effect of dilutive options | 91 | 67 | 88 | 56 | |||||||||||||
Average number of shares outstanding used to calculate diluted earnings per share | 3,852 | 3,759 | 3,824 | 3,745 | |||||||||||||
Anti-dilutive options not included | 132 | 245 | 198 | 282 |
NOTE_D_SECURITIES_AVAILABLE_FO
NOTE D - SECURITIES AVAILABLE FOR SALE | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ' | ||||||||||||||||||||||||
NOTE D – SECURITIES AVAILABLE FOR SALE | |||||||||||||||||||||||||
The amortized cost and carrying values of securities available-for-sale are as follows: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Carrying | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 6,112 | $ | 58 | $ | (36 | ) | $ | 6,134 | ||||||||||||||||
Obligations of U.S. Government agencies | 87,843 | 599 | (753 | ) | 87,689 | ||||||||||||||||||||
Mortgage backed securities | 82,870 | 549 | (2,187 | ) | 81,232 | ||||||||||||||||||||
Obligations of states and political subdivisions | 82,932 | 1,631 | (1,262 | ) | 83,301 | ||||||||||||||||||||
Corporate debt | 26,993 | 395 | (134 | ) | 27,254 | ||||||||||||||||||||
$ | 286,750 | $ | 3,232 | $ | (4,372 | ) | $ | 285,610 | |||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Carrying | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 7,145 | $ | 135 | $ | — | $ | 7,280 | |||||||||||||||||
Obligations of U.S. government agencies | 71,061 | 1,206 | (7 | ) | 72,260 | ||||||||||||||||||||
Mortgage-backed securities | 53,934 | 1,383 | (137 | ) | 55,180 | ||||||||||||||||||||
Obligations of states and political subdivisions | 78,147 | 3,515 | (53 | ) | 81,609 | ||||||||||||||||||||
Corporate debt | 18,103 | 535 | (22 | ) | 18,616 | ||||||||||||||||||||
$ | 228,390 | $ | 6,774 | $ | (219 | ) | $ | 234,945 | |||||||||||||||||
An analysis of gross unrealized losses within the available-for-sale investment securities portfolio as of September 30, 2013 and December 31, 2012 follows. | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Less than | 12 Months | |||||||||||||||||||||||
Total | 12 Months | Total | or Longer | Total | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
September 30,2013 | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 2,023 | $ | (36 | ) | $ | — | $ | — | $ | 2,023 | $ | (36 | ) | |||||||||||
Obligations of U.S. Government agencies | 38,092 | (753 | ) | — | — | 38,092 | (753 | ) | |||||||||||||||||
Mortgage-backed securities | 54,278 | (2,187 | ) | — | — | 54,278 | (2,187 | ) | |||||||||||||||||
Obligations of states and political subdivisions | 31,049 | (1,198 | ) | 1,095 | (64 | ) | 32,144 | (1,262 | ) | ||||||||||||||||
Corporate debt | 11,063 | (132 | ) | 498 | (2 | ) | 11,561 | (134 | ) | ||||||||||||||||
Total | $ | 136,505 | $ | (4,306 | ) | $ | 1,593 | $ | (66 | ) | $ | 138,098 | $ | (4,372 | ) | ||||||||||
Less than | 12 Months | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | 12 Months | Total | or Longer | Total | Total | |||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Obligations of U.S. government agencies | $ | 4,093 | $ | (7 | ) | $ | — | $ | — | $ | 4,093 | $ | (7 | ) | |||||||||||
Mortgage-backed securities | 8,580 | (137 | ) | — | — | 8,580 | (137 | ) | |||||||||||||||||
Obligations of states and political subdivisions | 8,492 | (53 | ) | — | — | 8,492 | (53 | ) | |||||||||||||||||
Corporate debt | — | — | 478 | (22 | ) | 478 | (22 | ) | |||||||||||||||||
Total | $ | 21,165 | $ | (197 | ) | $ | 478 | $ | (22 | ) | $ | 21,643 | $ | (219 | ) | ||||||||||
At September 30, 2013, there were two securities in an unrealized loss position for greater than twelve consecutive months. Management periodically evaluates each security in an unrealized loss position to determine if the impairment is temporary or other-than-temporary. The unrealized losses are due solely to interest rate changes and the Company does not intend to sell nor expects it will be required to sell investment securities identified with impairments prior to the earliest of forecasted recovery or the maturity of the underlying investment security. Management has determined that no investment security is other-than-temporarily impaired at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||
The amortized cost and carrying value of debt securities as of September 30, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Sep-13 | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Carrying | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 12,448 | $ | 12,588 | |||||||||||||||||||||
Due after one through five years | 107,316 | 108,152 | |||||||||||||||||||||||
Due after five years through ten years | 125,704 | 124,091 | |||||||||||||||||||||||
Due after ten years | 41,282 | 40,779 | |||||||||||||||||||||||
$ | 286,750 | $ | 285,610 | ||||||||||||||||||||||
For the nine months ended September 30, 2013, gross realized gains amounted to $152,000 on the sale of $12,428,000 in securities. For the nine months ended September 30, 2012, gross realized gains amounted to $906,000 on the sale of $25,743,000 in securities. For the nine months ended September 30, 2013, there were no gross realized losses, but for the same period in 2012, gross realized losses were $8,000 on the sale of $1,968,000 in investment securities. | |||||||||||||||||||||||||
At September 30, 2013, securities with an amortized cost of $68,277,000 and fair value of $68,985,000 were pledged as collateral for public deposits and for other purposes required by law. |
NOTE_E_LOANS
NOTE E - LOANS | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||||||||
NOTE E - LOANS | |||||||||||||||||||||||||||||
Loans are summarized as follows at September 30, 2013 and December 31,2012: | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | ||||||||||||||||||||||||||||
FNB | Balance | ||||||||||||||||||||||||||||
Bancorp | September 30, | ||||||||||||||||||||||||||||
September 30, 2013: | Originated | PNCI | PCI | 2013 | |||||||||||||||||||||||||
Commercial real estate | $ | 290,818 | $ | 41,680 | $ | 1,347 | $ | 333,845 | |||||||||||||||||||||
Real estate construction | 22,966 | 3,033 | 588 | 26,587 | |||||||||||||||||||||||||
Real estate multi-family | 39,474 | 11,620 | — | 51,094 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 97,528 | 10,703 | — | 108,231 | |||||||||||||||||||||||||
Commercial & industrial | 36,960 | 10,116 | — | 47,076 | |||||||||||||||||||||||||
Consumer loans | 1,691 | — | — | 1,691 | |||||||||||||||||||||||||
Gross loans | 489,437 | 77,152 | 1,935 | 568,524 | |||||||||||||||||||||||||
Net deferred loan fees | (612 | ) | — | — | (612 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,722 | ) | (26 | ) | — | (9,748 | ) | ||||||||||||||||||||||
Net loans | $ | 479,103 | $ | 77,126 | $ | 1,935 | $ | 558,164 | |||||||||||||||||||||
PNCI | #NAME? | ||||||||||||||||||||||||||||
PCI | #NAME? | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | ||||||||||||||||||||||||||||
FNB | Balance | ||||||||||||||||||||||||||||
Bancorp | 31-Dec | ||||||||||||||||||||||||||||
December 31, 2012: | Originated | PNCI | PCI | 2012 | |||||||||||||||||||||||||
Commercial real estate | $ | 254,449 | $ | 48,009 | $ | 1,402 | $ | 303,860 | |||||||||||||||||||||
Real estate construction | 14,866 | 3,594 | 486 | 18,946 | |||||||||||||||||||||||||
Real estate multi-family | 39,176 | 18,828 | — | 58,004 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 97,329 | 15,390 | — | 112,719 | |||||||||||||||||||||||||
Commercial & industrial | 42,847 | 12,717 | — | 55,564 | |||||||||||||||||||||||||
Consumer loans | 1,824 | — | — | 1,824 | |||||||||||||||||||||||||
Gross loans | 450,491 | 98,538 | 1,888 | 550,917 | |||||||||||||||||||||||||
Net deferred loan fees | (230 | ) | — | — | (230 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,124 | ) | — | — | (9,124 | ) | |||||||||||||||||||||||
Net loans | $ | 441,137 | $ | 98,538 | $ | 1,888 | $ | 541,563 | |||||||||||||||||||||
PNCI | #NAME? | ||||||||||||||||||||||||||||
PCI | #NAME? | ||||||||||||||||||||||||||||
A summary of impaired loans, the related allowance for loan losses, average investment and income recognized on impaired loans follows. | |||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,491 | $ | 5,331 | $ | 742 | $ | 329 | $ | 1,791 | $ | 61 | $ | 9,745 | |||||||||||||||
Charge-offs | (56 | ) | (23 | ) | — | — | (141 | ) | (5 | ) | (225 | ) | |||||||||||||||||
Recoveries | — | 2 | — | — | 1 | — | 3 | ||||||||||||||||||||||
Provision | (28 | ) | 211 | 9 | (76 | ) | 109 | 0 | 225 | ||||||||||||||||||||
Ending balance | $ | 1,407 | $ | 5,521 | $ | 751 | $ | 253 | $ | 1,760 | $ | 56 | $ | 9,748 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 209 | $ | 193 | $ | 13 | $ | — | $ | 225 | $ | 1 | $ | 641 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,198 | $ | 5,328 | $ | 738 | $ | 253 | $ | 1,535 | $ | 55 | $ | 9,107 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,876 | $ | 4,811 | $ | 857 | $ | — | $ | 1,516 | $ | 64 | $ | 9,124 | |||||||||||||||
Charge-offs | (56 | ) | (262 | ) | (81 | ) | — | (385 | ) | (6 | ) | (790 | ) | ||||||||||||||||
Recoveries | 70 | 6 | — | — | 2 | 1 | 79 | ||||||||||||||||||||||
Provision | (483 | ) | 966 | (25 | ) | 253 | 627 | (3 | ) | 1,335 | |||||||||||||||||||
Ending balance | $ | 1,407 | $ | 5,521 | $ | 751 | $ | 253 | $ | 1,760 | $ | 56 | $ | 9,748 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 209 | $ | 193 | $ | 13 | $ | — | $ | 225 | $ | 1 | $ | 641 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,198 | $ | 5,328 | $ | 738 | $ | 253 | $ | 1,535 | $ | 55 | $ | 9,107 | |||||||||||||||
Recorded Investment in Loans at September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 47,076 | $ | 333,845 | $ | 26,587 | $ | 51,094 | $ | 108,231 | $ | 1,691 | $ | 568,524 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,155 | $ | 19,010 | $ | 192 | $ | 643 | $ | 3,719 | $ | 1 | $ | 26,720 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 43,921 | $ | 314,835 | $ | 26,395 | $ | 50,451 | $ | 104,512 | $ | 1,690 | $ | 541,804 | |||||||||||||||
Note: ending balance individually evaluated for impairment of $26,720 includes the sum of Impaired Loans-Originated $21,545 and Impaired Loans-PNCI $5,175 in the detailed Recorded Investment columns on pages 16 and 17. | |||||||||||||||||||||||||||||
The collectively evaluated ending balance line includes PCI loans | |||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,734 | $ | 3,752 | $ | 834 | $ | 49 | $ | 2,026 | $ | 63 | $ | 8,458 | |||||||||||||||
Charge-offs | (219 | ) | — | — | — | (73 | ) | (1 | ) | (293 | ) | ||||||||||||||||||
Recoveries | — | 15 | — | — | 2 | — | 17 | ||||||||||||||||||||||
Provision | 84 | 118 | (257 | ) | (22 | ) | 475 | 2 | 400 | ||||||||||||||||||||
Ending balance | $ | 1,599 | $ | 3,885 | $ | 577 | $ | 27 | $ | 2,430 | $ | 64 | $ | 8,582 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 330 | $ | 470 | $ | 74 | $ | 22 | $ | 292 | $ | — | $ | 1,188 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,269 | $ | 3,415 | $ | 503 | $ | 5 | $ | 2,138 | $ | 64 | $ | 7,394 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,618 | $ | 4,745 | $ | 1,171 | $ | 671 | $ | 1,592 | $ | 100 | $ | 9,897 | |||||||||||||||
Charge-offs | (1,706 | ) | (738 | ) | (54 | ) | — | (182 | ) | (5 | ) | (2,685 | ) | ||||||||||||||||
Recoveries | 1 | 154 | — | — | 11 | 4 | 170 | ||||||||||||||||||||||
Provision | 1,686 | (276 | ) | (540 | ) | (644 | ) | 1,009 | (35 | ) | 1,200 | ||||||||||||||||||
Ending balance | $ | 1,599 | $ | 3,885 | $ | 577 | $ | 27 | $ | 2,430 | $ | 64 | $ | 8,582 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 330 | $ | 470 | $ | 74 | $ | 22 | $ | 292 | $ | — | $ | 1,188 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,269 | $ | 3,415 | $ | 503 | $ | 5 | $ | 2,138 | $ | 64 | $ | 7,394 | |||||||||||||||
Recorded Investment in Loans at September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 59,312 | $ | 298,471 | $ | 17,907 | $ | 61,552 | $ | 117,198 | $ | 1,950 | $ | 556,390 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,309 | $ | 9,885 | $ | 7,210 | $ | 3,242 | $ | 6,366 | $ | — | $ | 31,012 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 55,003 | $ | 288,586 | $ | 10,697 | $ | 58,310 | $ | 110,832 | $ | 1,950 | $ | 525,378 | |||||||||||||||
Impaired Loans-Originated | |||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,514 | $ | 1,687 | $ | — | $ | 1,640 | $ | 76 | |||||||||||||||||||
Commercial real estate | 8,523 | 8,785 | — | 5,178 | 315 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 1,171 | 1,286 | — | 863 | 21 | ||||||||||||||||||||||||
Total | 11,208 | 11,758 | — | 7,681 | 412 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,641 | $ | 2,082 | $ | 209 | $ | 1,677 | $ | 12 | |||||||||||||||||||
Commercial real estate | 6,147 | 6,147 | 180 | 5,693 | 197 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 2,548 | 2,556 | 225 | 2,611 | 68 | ||||||||||||||||||||||||
Consumer | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||
Total | 10,337 | 10,786 | 615 | 9,982 | 277 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,155 | $ | 3,769 | $ | 209 | $ | 3,317 | $ | 88 | |||||||||||||||||||
Commercial real estate | 14,670 | 14,932 | 180 | 10,871 | 512 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,719 | 3,842 | 225 | 3,474 | 89 | ||||||||||||||||||||||||
Consumer | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||
Grand total | $ | 21,545 | $ | 22,544 | $ | 615 | $ | 17,663 | $ | 689 | |||||||||||||||||||
Impaired Loans -PNCI | |||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Real estate-multi family | $ | 643 | $ | 699 | $ | — | $ | 719 | $ | 23 | |||||||||||||||||||
Commercial real estate | 3,982 | 4,859 | — | 4,869 | 219 | ||||||||||||||||||||||||
Total | 4,625 | 5,558 | — | 5,588 | 242 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate | $ | 358 | $ | 482 | $ | 13 | $ | 482 | $ | 19 | |||||||||||||||||||
Commercial real estate construction | 192 | 197 | 13 | 199 | 15 | ||||||||||||||||||||||||
Total | 550 | 679 | 26 | 681 | 34 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 192 | $ | 197 | $ | 13 | $ | 199 | $ | 15 | |||||||||||||||||||
Real estate-multi family | 643 | 699 | — | 719 | 23 | ||||||||||||||||||||||||
Commercial real estate | 4,340 | 5,341 | 13 | 5,351 | 238 | ||||||||||||||||||||||||
Grand total | $ | 5,175 | $ | 6,237 | $ | 26 | $ | 6,269 | $ | 276 | |||||||||||||||||||
Impaired Loans -Originated | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,202 | $ | 2,338 | $ | — | $ | 2,298 | $ | 120 | |||||||||||||||||||
Commercial real estate construction | — | — | — | 6,187 | 333 | ||||||||||||||||||||||||
Commercial real estate | 7,238 | 7,804 | — | 1,097 | 59 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 1,052 | 1,147 | — | 1,065 | 55 | ||||||||||||||||||||||||
Total | 10,492 | 11,289 | — | 10,647 | 567 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,965 | $ | 2,427 | $ | 384 | $ | 2,328 | $ | 30 | |||||||||||||||||||
Commercial real estate | 5,433 | 5,433 | 415 | 5,685 | 240 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,719 | 3,722 | 306 | 3,283 | 150 | ||||||||||||||||||||||||
Total | 11,117 | 11,582 | 1,105 | 11,296 | 420 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,167 | $ | 4,765 | $ | 384 | $ | 4,626 | $ | 150 | |||||||||||||||||||
Commercial real estate construction | — | — | — | 6,187 | 333 | ||||||||||||||||||||||||
Commercial real estate | 12,671 | 13,237 | 415 | 6,782 | 299 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 4,771 | 4,869 | 306 | 4,348 | 205 | ||||||||||||||||||||||||
Grand total | $ | 21,609 | $ | 22,871 | $ | 1,105 | $ | 21,943 | $ | 987 | |||||||||||||||||||
Impaired Loans -PNCI | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate | $ | 3,428 | $ | 3,776 | $ | — | $ | 3,777 | $ | 27 | |||||||||||||||||||
Total | 3,428 | 3,776 | — | 3,777 | 27 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 681 | $ | 798 | $ | 232 | $ | 798 | $ | 4 | |||||||||||||||||||
Total | 681 | 798 | 232 | 798 | 4 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 681 | $ | 798 | $ | 232 | $ | 798 | $ | 4 | |||||||||||||||||||
Commercial real estate | 3,428 | 3,776 | — | 3,777 | 27 | ||||||||||||||||||||||||
Grand total | $ | 4,109 | $ | 4,574 | $ | 232 | $ | 4,575 | $ | 31 | |||||||||||||||||||
Nonaccrual loans totaled $9,053,000 and $12,474,000 as of September 30, 2013 and December 31, 2012. The difference between impaired loans and nonaccrual loans represents loans that are restructured, are performing under modified agreements, and accruing interest. | |||||||||||||||||||||||||||||
Loans on Nonaccrual Status as of | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | September 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,240 | $ | 2,618 | |||||||||||||||||||||||||
Real estate - construction | 193 | 1,898 | |||||||||||||||||||||||||||
Commercial real estate | 4,912 | 6,251 | |||||||||||||||||||||||||||
Real estate multi family | 643 | — | |||||||||||||||||||||||||||
Real estate 1 to 4 family | 1,065 | 1,707 | |||||||||||||||||||||||||||
Total | $ | 9,053 | $ | 12,474 | |||||||||||||||||||||||||
Interest income on impaired loans of $965,000 was recognized for cash payments received during the nine months ended September 30, 2013, and $987,000 was recognized for cash payments received during the year ended December 31, 2012. The amount of interest on impaired loans not collected for the nine months ended September 30, 2013 was $529,000, and for the year ended December 31, 2012 was $1,358,000. The cumulative amount of unpaid interest on impaired loans was $3,303,000 for the nine months ended September 30, 2013, and $2,774,000 for the year ended December 31, 2012. | |||||||||||||||||||||||||||||
Total outstanding principal of troubled debt restructured loans as of September 30, 2013 was $5,574,000, of which $192,000 was real estate construction loans, $1,241,000 was residential loans, and $4,141,000 was commercial real estate loans. Total outstanding principal of troubled debt restructured loans at December 31, 2012 was $5,578,000, of which $2,723,000 was commercial loans, $1,446,000 was real estate one to four family, and $1,409,000 was commercial real estate loans. | |||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||
The Company reassessed all restructurings that occurred on or after the beginning of fiscal year 2011 for identification as troubled debt restructurings. The Company identified as troubled debt restructurings certain loans for which the allowance for credit losses had previously been measured under a general allowance for credit losses methodology (ASC 450-20). Upon identifying the reassessed loans as troubled debt restructurings, the Company also identified them as impaired under the guidance in ASC 310-10-35. | |||||||||||||||||||||||||||||
Modification Categories | |||||||||||||||||||||||||||||
The Company offers a variety of modifications to borrowers. The modification categories offered can generally be described in the following categories. | |||||||||||||||||||||||||||||
Rate Modification – A modification in which the interest rate is changed. | |||||||||||||||||||||||||||||
Term modification – A modification in which the maturity date, timing of payments, or frequency of payments is changed. | |||||||||||||||||||||||||||||
Interest Only Modification – A modification in which the loan is converted to interest only payments for a period of time. | |||||||||||||||||||||||||||||
Payment Modification – A modification in which the dollar amount of the payment is changed, other than an interest only modification described above. | |||||||||||||||||||||||||||||
As of September 30, 2013, there were no available commitments for additional funding of troubled debt restructurings. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the nine months | |||||||||||||||||||||||||||||
ended September 30, 2013 | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real Estate Construction | 1 | $ | 192 | $ | 192 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 3 | 1,241 | 1,241 | ||||||||||||||||||||||||||
Commercial real estate | 5 | 4,141 | 4,141 | ||||||||||||||||||||||||||
Total | 9 | $ | 5,574 | $ | 5,574 | ||||||||||||||||||||||||
As of September 30, 2013, no loans defaulted within the previous twelve months following the date of restructure. All restructurings were a modification of interest rate and/or payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Commercial and industrial | 7 | $ | 2,723 | $ | 2,723 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 3 | 1,446 | 1,446 | ||||||||||||||||||||||||||
Commercial real estate | 3 | 1,409 | 1,409 | ||||||||||||||||||||||||||
Total | 13 | $ | 5,578 | $ | 5,578 | ||||||||||||||||||||||||
As of December 31, 2012, no loans defaulted within the previous twelve months following the date of restructure. All restructurings were a modification of interest rate and/or payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Risk rating system | |||||||||||||||||||||||||||||
Loans to borrowers graded as pass or pooled loans represent loans to borrowers of acceptable or better credit quality. They demonstrate sound financial positions, repayment capacity and credit history. They have an identifiable and stable source of repayment. | |||||||||||||||||||||||||||||
Special mention loans have potential weaknesses that deserve management’s attention. If left uncorrected these potential weaknesses may result in a deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. These assets are “not adversely classified” and do not expose the Bank to sufficient risk to warrant adverse classification. | |||||||||||||||||||||||||||||
Substandard loans are inadequately protected by current sound net worth, paying capacity of the borrower, or pledged collateral. Loans are normally classified as Substandard when there are unsatisfactory characteristics causing more than acceptable levels of risk. A substandard loan normally has one or more well-defined weakness that could jeopardize the repayment of the debt. These well-defined weaknesses may include a) cash flow deficiency, which may jeopardize future payments; b) sale of non-collateral assets has become primary source of repayment; c) the borrower is bankrupt; or d) for any other reason, future repayment is dependent on court action. | |||||||||||||||||||||||||||||
Doubtful loans represent credits with weakness inherent in the Substandard classification and where collection or liquidation in full is highly questionable. To be classified Doubtful, there must be specific pending factors which prevent the Loan Review Officer from determining the amount of loss contained in the credit. When the amount of loss can be reasonably estimated, that amount is classified as “loss” and the remainder is classified as Substandard. | |||||||||||||||||||||||||||||
Commercial Real Estate Loans – Multi-Family | |||||||||||||||||||||||||||||
Our multi-family commercial real estate loans are secured by multi-family properties located primarily in San Mateo and San Francisco Counties. These loans are made to investors where our primary source of repayment is from cash flows generated by the properties, through rent collections. The borrowers’ promissory notes are secured with recorded liens on the underlying properties. The borrowers would normally also be required to personally guarantee repayment of the loans. The Bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have multiple sources of income, so if cash flow generated from the property declines, at least in the short term, the borrowers can normally cover these short term cash flow deficiencies from their available cash reserves. Risk of loss to the Bank is increased when there are cash flow decreases sufficiently large and for such a prolonged period of time that loan payments can no longer be made by the borrowers. | |||||||||||||||||||||||||||||
Commercial Real Estate Loans – Other | |||||||||||||||||||||||||||||
Commercial Real Estate loans consist of loans secured by non-farm, non-residential properties, including, but not limited to industrial, hotel, assisted care, retail, office and mixed use buildings. Our commercial real estate loans are made primarily to investors or small businesses where our primary source of repayment is from cash flows generated by the properties, either through rent collection or business profits. The borrower’s promissory notes are secured with recorded liens on the underlying property. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have multiple sources of income, so if cash flow generated from the property declines, at least in the short term, the borrowers can normally cover these short term cash flow deficiencies from their available cash reserves. Risk of loss to the Bank is increased when there are cash flow decreases sufficiently large and for such a prolonged period of time that loan payments can no longer be made by the borrowers. | |||||||||||||||||||||||||||||
Real Estate Construction Loans | |||||||||||||||||||||||||||||
Our real estate construction loans are generally made to borrowers who are rehabilitating a building, converting a building use from one type of use to another, or developing land and building residential or commercial structures for sale or lease. The borrower’s promissory notes are secured with recorded liens on the underlying property. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Generally, our borrowers have sufficient resources to make the required construction loan payments during the construction and absorption or lease-up period. After construction is complete, the loans are normally paid off from proceeds from the sale of the building or through a refinance to a commercial real estate loan. Risk of loss to the Bank is increased when there are material construction cost overruns, significant delays in the time to complete the project and/or there has been a material drop in the value of the projects in the marketplace since the inception of the loan. | |||||||||||||||||||||||||||||
Residential Real Estate Loans | |||||||||||||||||||||||||||||
Our residential real estate loans are generally made to borrowers who are buying or refinancing their primary personal residence or a rental property of 1-4 single family residential units. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when borrowers lose their primary source of income and/or property values decline significantly. | |||||||||||||||||||||||||||||
Commercial and Industrial Loans | |||||||||||||||||||||||||||||
Our commercial and industrial loans are generally made to small businesses to provide them with at least some of the working capital necessary to fund their daily business operations. These loans are generally either unsecured or secured by fixed assets, accounts receivable and/or inventory. The borrowers would normally also be required to personally guarantee repayment of the loan. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when our small business customers experience a significant business downturn, incur significant financial losses, or file for relief from creditors through bankruptcy proceedings. | |||||||||||||||||||||||||||||
Consumer and Installment Loans | |||||||||||||||||||||||||||||
Our consumer and installment loans generally consist of personal loans, credit card loans, automobile loans or other loans secured by personal property. The Bank uses conservative underwriting standards in reviewing applications for credit. Risk of loss to the Bank is increased when borrowers lose their primary source of income, or file for relief from creditors through bankruptcy proceedings. | |||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | Recorded | |||||||||||||||||||||||||||
Days | Days | Over | Total | Investment > | |||||||||||||||||||||||||
Past | Past | 90 | Past | Total | 90 Days and | ||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | Accruing | ||||||||||||||||||||||
Commercial real estate | $ | — | — | 2,474 | 2,474 | 288,344 | 290,818 | — | |||||||||||||||||||||
Real estate construction | — | — | — | — | 22,966 | 22,966 | — | ||||||||||||||||||||||
Real estate multi family | — | — | — | — | 39,474 | 39,474 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | 771 | 62 | 1,065 | 1,898 | 95,630 | 97,528 | — | ||||||||||||||||||||||
Commercial & industrial | 336 | 11 | 2,240 | 2,587 | 34,373 | 36,960 | — | ||||||||||||||||||||||
Consumer | 20 | — | 1 | 21 | 1,670 | 1,691 | — | ||||||||||||||||||||||
Total | $ | 1,127 | $ | 73 | $ | 5,780 | $ | 6,980 | $ | 482,457 | $ | 489,437 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Not credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,098 | $ | 1,098 | $ | 40,582 | $ | 41,680 | — | ||||||||||||||||
Real estate construction | — | — | 193 | 193 | 2,840 | 3,033 | — | ||||||||||||||||||||||
Real estate multi-family | — | — | 643 | 643 | 10,977 | 11,620 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 10,703 | 10,703 | — | ||||||||||||||||||||||
Commercial & industrial | — | — | — | — | 10,116 | 10,116 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,934 | $ | 1,934 | $ | 75,218 | $ | 77,152 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,339 | $ | 1,339 | $ | 8 | $ | 1,347 | — | ||||||||||||||||
Real estate construction | — | — | — | — | 588 | 588 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,339 | $ | 1,339 | $ | 596 | $ | 1,935 | $ | — | |||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | Recorded | |||||||||||||||||||||||||||
Days | Days | Over | Total | Investment > | |||||||||||||||||||||||||
Past | Past | 90 | Past | Total | 90 Days and | ||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | Accruing | ||||||||||||||||||||||
Commercial real estate | $ | 3,942 | — | 2,525 | 6,467 | 247,982 | 254,449 | — | |||||||||||||||||||||
Real estate construction | — | — | — | — | 14,866 | 14,866 | — | ||||||||||||||||||||||
Real estate multi family | — | — | — | — | 39,176 | 39,176 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | 806 | 168 | 1,210 | 2,184 | 95,145 | 97,329 | — | ||||||||||||||||||||||
Commercial & industrial | 18 | 44 | 2,619 | 2,681 | 40,166 | 42,847 | — | ||||||||||||||||||||||
Consumer | — | — | — | — | 1,824 | 1,824 | — | ||||||||||||||||||||||
Total | $ | 4,766 | $ | 212 | $ | 6,354 | $ | 11,332 | $ | 439,159 | $ | 450,491 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Not credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 690 | $ | — | $ | 2,212 | $ | 2,902 | $ | 45,107 | $ | 48,009 | — | ||||||||||||||||
Real estate construction | — | — | 1,411 | 1,411 | 2,183 | 3,594 | — | ||||||||||||||||||||||
Real estate multi-family | 75 | — | — | 75 | 18,753 | 18,828 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | — | 119 | — | 119 | 15,271 | 15,390 | — | ||||||||||||||||||||||
Commercial & industrial | 50 | — | — | 50 | 12,667 | 12,717 | — | ||||||||||||||||||||||
Total | $ | 815 | $ | 119 | $ | 3,623 | $ | 4,557 | $ | 93,981 | $ | 98,538 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1402 | $ | 1402 | $ | — | $ | 1,402 | — | ||||||||||||||||
Real estate construction | — | — | 486 | 486 | — | 486 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,888 | $ | 1,888 | $ | — | $ | 1,888 | $ | — | |||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 285,642 | $ | 2,342 | $ | 2,834 | $ | — | $ | 290,818 | |||||||||||||||||||
Real estate construction | 21,349 | 573 | 1,044 | — | 22,966 | ||||||||||||||||||||||||
Real estate multi-family | 39,474 | — | — | — | 39,474 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 96,463 | — | 805 | 260 | 97,528 | ||||||||||||||||||||||||
Commercial and industrial | 35,167 | — | 1,793 | — | 36,960 | ||||||||||||||||||||||||
Consumer loans | 1,690 | — | — | 1 | 1,691 | ||||||||||||||||||||||||
Totals | $ | 479,785 | $ | 2,915 | $ | 6,476 | $ | 261 | $ | 489,437 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 29,936 | $ | 5,574 | $ | 6,170 | $ | — | $ | 41,680 | |||||||||||||||||||
Real estate construction | 1,533 | — | 1,500 | — | 3,033 | ||||||||||||||||||||||||
Real estate multi-family | 11,620 | — | — | — | 11,620 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 10,291 | — | 412 | — | 10,703 | ||||||||||||||||||||||||
Commercial and industrial | 10,116 | — | — | — | 10,116 | ||||||||||||||||||||||||
Total | $ | 63,496 | $ | 5,574 | $ | 8,082 | $ | — | $ | 77,152 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,347 | |||||||||||||||||||||||||||
Real estate construction | 588 | ||||||||||||||||||||||||||||
Total | $ | 1,935 | |||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 249,991 | $ | 2,372 | $ | 2,086 | $ | — | $ | 254,449 | |||||||||||||||||||
Real estate construction | 13,266 | — | 1,600 | — | 14,866 | ||||||||||||||||||||||||
Real estate multi-family | 39,176 | — | — | — | 39,176 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 95,579 | — | 1,470 | 280 | 97,329 | ||||||||||||||||||||||||
Commercial and industrial | 39,446 | — | 2,564 | 837 | 42,847 | ||||||||||||||||||||||||
Consumer loans | 1,824 | — | — | — | 1,824 | ||||||||||||||||||||||||
Totals | $ | 439,282 | $ | 2,372 | $ | 7,720 | $ | 1,117 | $ | 450,491 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 30,600 | $ | 7,902 | $ | 9,507 | $ | — | $ | 48,009 | |||||||||||||||||||
Real estate construction | — | 39 | 3,555 | — | 3,594 | ||||||||||||||||||||||||
Real estate multi-family | 18,828 | — | — | — | 18,828 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 14,850 | — | 540 | — | 15,390 | ||||||||||||||||||||||||
Commercial and industrial | 12,717 | — | — | — | 12,717 | ||||||||||||||||||||||||
Total | $ | 76,995 | $ | 7,941 | $ | 13,602 | $ | — | $ | 98,538 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,402 | |||||||||||||||||||||||||||
Real estate construction | 486 | ||||||||||||||||||||||||||||
Total | $ | 1,888 |
NOTE_F_FAIR_VALUE_MEASUREMENT
NOTE F - FAIR VALUE MEASUREMENT | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
FAIR VALUE MEASUREMENT | ' | ||||||||||||||||
NOTE F – FAIR VALUE MEASUREMENT | |||||||||||||||||
The following tables present information about the Company’s assets and liabilities measured at fair value as of September 30, 2013 and December 31, 2012, and indicate the fair value techniques used by the Company to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. | |||||||||||||||||
The following table presents the recorded amounts of assets measured at fair value on a recurring basis: | |||||||||||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at September 30, 2013, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices | Other | Significant | |||||||||||||
9/30/13 | in Active | Observable | Unobservable | ||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||
for Identical | (Level 2) | (Level 3) | |||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
U. S. Treasury securities | $ | 6,134 | $ | 6,134 | $ | — | $ | — | |||||||||
Obligations of U.S. Government agencies | 87,689 | — | 87,689 | — | |||||||||||||
Mortgage-backed securities | 81,232 | — | 81,232 | — | |||||||||||||
Obligations of states and political subdivisions | 83,301 | — | 83,301 | — | |||||||||||||
Corporate debt | 27,254 | — | 27,254 | — | |||||||||||||
Total assets measured at fair value | $ | 285,610 | $ | 6,134 | $ | 279,476 | $ | — | |||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at December 31, 2012, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices | Other | Significant | |||||||||||||
12/31/12 | in Active | Observable | Unobservable | ||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||
for Identical | (Level 2) | (Level 3) | |||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
U. S. Treasury securities | $ | 7,280 | $ | 7,280 | $ | — | $ | — | |||||||||
Obligations of U.S. Government agencies | 72,260 | — | 72,260 | — | |||||||||||||
Mortgage-backed securities | 55,180 | — | 55,180 | — | |||||||||||||
Obligations of states and political subdivisions | 81,609 | — | 81,609 | — | |||||||||||||
Corporate debt | 18,616 | — | 18,616 | — | |||||||||||||
Total assets measured at fair value | $ | 234,945 | $ | 7,280 | $ | 227,665 | $ | — | |||||||||
The following tables present the recorded amount of assets measured at fair value on a non-recurring basis: | |||||||||||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at September 30, 2013, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices in | Other | Significant | |||||||||||||
9/30/13 | Active Markets | Observable | Unobservable | ||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 2,299 | $ | — | $ | — | $ | 2,299 | |||||||||
Total impaired assets measured at fair value | $ | 2,299 | $ | — | $ | — | $ | 2,299 | |||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at December 31, 2012, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices in | Other | ||||||||||||||
12/31/12 | Active Markets | Observable | Significant | ||||||||||||||
for Identical | Inputs | Unobservable | |||||||||||||||
Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
Impaired loans | $ | 2,494 | $ | — | $ | — | $ | 2,494 | |||||||||
Other real estate owned | 4,710 | — | — | 4,710 | |||||||||||||
Total impaired assets measured at fair value | $ | 7,204 | $ | — | $ | — | $ | 7,204 | |||||||||
The Bank does not record loans at fair value. However, from time to time, if a loan is considered impaired, a specific allocation within the allowance for loan losses may be required. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value and cash flows. Those impaired loans not requiring an allowance represent loans for which the value of the expected repayments or collateral exceed the recorded investments in such loans. Impaired loans where an allowance is established based on the fair value of collateral or when the impaired loan has been written down to fair value require classification in the fair value hierarchy. If the fair value of the collateral is based on an observable market price or a current appraised value, the Bank records the impaired loans as nonrecurring Level 3. When an appraised value is not available, or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Bank also records the impaired loans as nonrecurring Level 3. | |||||||||||||||||
Other real estate owned is carried at the lower of historical cost or fair market value. An appraisal (a Level 3 valuation) is obtained at the time the Company acquires property through the foreclosure process. Any loan balance outstanding that exceeds the appraised value of the property is charged off against the allowance for loan loss at the time the property is acquired. Subsequent to acquisition, the Bank updates the property’s appraised value on at least an annual basis. If the value of the property has declined during the year, a loss due to valuation impairment is recorded along with a corresponding reduction in the book carrying value of the property. | |||||||||||||||||
The Company obtains third party appraisals on its impaired loans held-for-investment and foreclosed assets to determine fair value. Generally, the third party appraisals apply the “market approach,” which is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable (that is, similar) assets, liabilities, or a group of assets and liabilities, such as a business. Adjustments are then made based on the type of property, age of appraisal, current status of property and other related factors to estimate the current value of collateral. | |||||||||||||||||
Fair Values of Financial Instruments. | |||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value disclosures for financial instruments. | |||||||||||||||||
Cash and Cash Equivalents. | |||||||||||||||||
The carrying amounts reported in the balance sheet for cash and short-term instruments are a reasonable estimate of fair value, which will approximate their historical cost. | |||||||||||||||||
Securities Available-for-Sale. | |||||||||||||||||
Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. | |||||||||||||||||
Loans Receivable. | |||||||||||||||||
For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values and credit risk factors. For fixed rate loans, fair values are based on discounted cash flows, credit risk factors, and liquidity factors. | |||||||||||||||||
Deposit liabilities. | |||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The fair values for fixed-rate certificates of deposit are based on discounted cash flows. | |||||||||||||||||
Federal Home Loan Bank Advances. | |||||||||||||||||
The fair values of Federal Home Loan Bank Advances are based on discounted cash flows. The discount rate is equal to the market rate currently offered by similar products. | |||||||||||||||||
Accrued Interest Receivable and Payable. | |||||||||||||||||
The interest receivable and payable balances approximate their fair value due to the short-term nature of their settlement dates. | |||||||||||||||||
Undisbursed loan commitments, lines of credit, Mastercard line and standby letters of credit. | |||||||||||||||||
The fair value of these off-balance sheet items are based on discounted cash flows of expected fundings. | |||||||||||||||||
The Bank has excluded non-financial assets and non-financial liabilities defined by the Codification (ASC 820-10-15-A), such as Bank premises and equipment, deferred taxes and other liabilities. In addition, the Bank has not disclosed the fair value of financial instruments specifically excluded from disclosure requirements of the Financial Instruments Topic of the Codification (ASC 825-10-50-8), such as Bank-owned life insurance policies. | |||||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at September 30, 2013: | |||||||||||||||||
(Dollar amounts in thousands) | Carrying | Fair | Fair value measurements | ||||||||||||||
amount | value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 18,368 | $ | 18,368 | $ | 18,368 | |||||||||||
Interest-bearing time deposits with financial institutions | 6,979 | 7,088 | $ | 7,088 | |||||||||||||
Securities available for sale | 285,610 | 285,610 | 6,134 | 279,476 | |||||||||||||
Loans | 567,912 | 561,036 | $ | 561,036 | |||||||||||||
Other equity securities | 5,300 | 5,300 | 5,300 | ||||||||||||||
Accrued interest receivable | 3,855 | 3,855 | 3,855 | ||||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 781,124 | 781,517 | 781,517 | ||||||||||||||
Federal Home Loan Bank advances | 44,000 | 44,000 | 44,000 | ||||||||||||||
Accrued interest payable | 254 | 254 | 254 | ||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,419 | 1,419 | ||||||||||||||
The carrying amount of loans include $9,053,000 of nonaccrual loans (loans that are not accruing interest) as of September 30, 2013. The fair value of nonaccrual loans is based on the collateral values that secure the loans or the cash flows expected to be received. | |||||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at December 31, 2012: | |||||||||||||||||
(Dollar amounts in thousands) | Carrying | Fair | Fair value measurements | ||||||||||||||
amount | value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 27,861 | $ | 27,861 | $ | 27,861 | |||||||||||
Interest-bearing time deposits with financial institutions | 13,216 | 13,216 | $ | 13,216 | |||||||||||||
Securities available for sale | 234,945 | 234,945 | 7,280 | 227,665 | |||||||||||||
Loans | 550,917 | 547,740 | $ | 547,740 | |||||||||||||
Other equity securities | 5,464 | 5,464 | 5,464 | ||||||||||||||
Accrued interest receivable | 3,760 | 3,760 | 3,760 | ||||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 768,352 | 769,043 | 769,043 | ||||||||||||||
Federal Home Loan Bank advances | 1,220 | 1,221 | 1,221 | ||||||||||||||
Accrued interest payable | 349 | 349 | 349 | ||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,026 | 1,026 | ||||||||||||||
The carrying amount of loans include $12,474,000 of nonaccrual loans (loans that are not accruing interest) as of December 31, 2012. The fair value of nonaccrual loans is based on the collateral values that secure the loans or the cash flows expected to be received. |
NOTE_G_PREFERRED_STOCK
NOTE G - PREFERRED STOCK | 9 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
PREFERRED STOCK | ' |
NOTE G – PREFERRED STOCK | |
On September 15, 2011, Preferred Stock was issued to the U. S. Treasury as part of the Treasury’s Small Business Lending Fund (“SBLF”), as Preferred Stock – Series C – Non-Cumulative. The initial dividend rate is 5%. Depending on the volume of our small business lending, the dividend rate can be reduced to as low as one percent. If lending does not increase in the first two years, the dividend rate will increase to seven percent. After 4.5 years, the dividend rate will increase to nine percent if the Company has not repaid the SBLF funding. The dividend rate at September 30, 2013 was 5%. On May 6, 2013, 25% or $3,150,000 of the original $12,600,000 was redeemed. |
NOTE_C_EARNINGS_PER_SHARE_CALC1
NOTE C - EARNINGS PER SHARE CALCULATION (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of earnings per share calculation | ' | ||||||||||||||||
(All amounts in thousands) | Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net earnings | $ | 3,131 | $ | 4,941 | $ | 5,440 | $ | 7,457 | |||||||||
Dividends and discount accretion on preferred stock | 251 | 158 | 581 | 501 | |||||||||||||
Net earnings available to common shareholders | $ | 2,880 | $ | 4,783 | $ | 4,859 | $ | 6,956 | |||||||||
Average number of shares outstanding | 3,761 | 3,692 | 3,735 | 3,689 | |||||||||||||
Effect of dilutive options | 91 | 67 | 88 | 56 | |||||||||||||
Average number of shares outstanding used to calculate diluted earnings per share | 3,852 | 3,759 | 3,824 | 3,745 | |||||||||||||
Anti-dilutive options not included | 132 | 245 | 198 | 282 | |||||||||||||
NOTE_D_SECURITIES_AVAILABLE_FO1
NOTE D - SECURITIES AVAILABLE FOR SALE (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of amortized cost and carrying values of securities available-for-sale | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Carrying | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 6,112 | $ | 58 | $ | (36 | ) | $ | 6,134 | ||||||||||||||||
Obligations of U.S. Government agencies | 87,843 | 599 | (753 | ) | 87,689 | ||||||||||||||||||||
Mortgage backed securities | 82,870 | 549 | (2,187 | ) | 81,232 | ||||||||||||||||||||
Obligations of states and political subdivisions | 82,932 | 1,631 | (1,262 | ) | 83,301 | ||||||||||||||||||||
Corporate debt | 26,993 | 395 | (134 | ) | 27,254 | ||||||||||||||||||||
$ | 286,750 | $ | 3,232 | $ | (4,372 | ) | $ | 285,610 | |||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Carrying | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 7,145 | $ | 135 | $ | — | $ | 7,280 | |||||||||||||||||
Obligations of U.S. government agencies | 71,061 | 1,206 | (7 | ) | 72,260 | ||||||||||||||||||||
Mortgage-backed securities | 53,934 | 1,383 | (137 | ) | 55,180 | ||||||||||||||||||||
Obligations of states and political subdivisions | 78,147 | 3,515 | (53 | ) | 81,609 | ||||||||||||||||||||
Corporate debt | 18,103 | 535 | (22 | ) | 18,616 | ||||||||||||||||||||
$ | 228,390 | $ | 6,774 | $ | (219 | ) | $ | 234,945 | |||||||||||||||||
Schedule of analysis of gross unrealized losses of the available-for-sale investment securities | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Less than | 12 Months | |||||||||||||||||||||||
Total | 12 Months | Total | or Longer | Total | Total | ||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
September 30,2013 | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 2,023 | $ | (36 | ) | $ | — | $ | — | $ | 2,023 | $ | (36 | ) | |||||||||||
Obligations of U.S. Government agencies | 38,092 | (753 | ) | — | — | 38,092 | (753 | ) | |||||||||||||||||
Mortgage-backed securities | 54,278 | (2,187 | ) | — | — | 54,278 | (2,187 | ) | |||||||||||||||||
Obligations of states and political subdivisions | 31,049 | (1,198 | ) | 1,095 | (64 | ) | 32,144 | (1,262 | ) | ||||||||||||||||
Corporate debt | 11,063 | (132 | ) | 498 | (2 | ) | 11,561 | (134 | ) | ||||||||||||||||
Total | $ | 136,505 | $ | (4,306 | ) | $ | 1,593 | $ | (66 | ) | $ | 138,098 | $ | (4,372 | ) | ||||||||||
Less than | 12 Months | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | 12 Months | Total | or Longer | Total | Total | |||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Obligations of U.S. government agencies | $ | 4,093 | $ | (7 | ) | $ | — | $ | — | $ | 4,093 | $ | (7 | ) | |||||||||||
Mortgage-backed securities | 8,580 | (137 | ) | — | — | 8,580 | (137 | ) | |||||||||||||||||
Obligations of states and political subdivisions | 8,492 | (53 | ) | — | — | 8,492 | (53 | ) | |||||||||||||||||
Corporate debt | — | — | 478 | (22 | ) | 478 | (22 | ) | |||||||||||||||||
Total | $ | 21,165 | $ | (197 | ) | $ | 478 | $ | (22 | ) | $ | 21,643 | $ | (219 | ) | ||||||||||
Schedule of amortized cost and carrying value of available-for-sale debt securities by contractual maturity | ' | ||||||||||||||||||||||||
Sep-13 | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Carrying | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 12,448 | $ | 12,588 | |||||||||||||||||||||
Due after one through five years | 107,316 | 108,152 | |||||||||||||||||||||||
Due after five years through ten years | 125,704 | 124,091 | |||||||||||||||||||||||
Due after ten years | 41,282 | 40,779 | |||||||||||||||||||||||
$ | 286,750 | $ | 285,610 |
NOTE_E_LOANS_Tables
NOTE E - LOANS (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of loan outstanding | ' | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | ||||||||||||||||||||||||||||
FNB | Balance | ||||||||||||||||||||||||||||
Bancorp | September 30, | ||||||||||||||||||||||||||||
September 30, 2013: | Originated | PNCI | PCI | 2013 | |||||||||||||||||||||||||
Commercial real estate | $ | 290,818 | $ | 41,680 | $ | 1,347 | $ | 333,845 | |||||||||||||||||||||
Real estate construction | 22,966 | 3,033 | 588 | 26,587 | |||||||||||||||||||||||||
Real estate multi-family | 39,474 | 11,620 | — | 51,094 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 97,528 | 10,703 | — | 108,231 | |||||||||||||||||||||||||
Commercial & industrial | 36,960 | 10,116 | — | 47,076 | |||||||||||||||||||||||||
Consumer loans | 1,691 | — | — | 1,691 | |||||||||||||||||||||||||
Gross loans | 489,437 | 77,152 | 1,935 | 568,524 | |||||||||||||||||||||||||
Net deferred loan fees | (612 | ) | — | — | (612 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,722 | ) | (26 | ) | — | (9,748 | ) | ||||||||||||||||||||||
Net loans | $ | 479,103 | $ | 77,126 | $ | 1,935 | $ | 558,164 | |||||||||||||||||||||
PNCI | #NAME? | ||||||||||||||||||||||||||||
PCI | #NAME? | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Total | ||||||||||||||||||||||||||||
FNB | Balance | ||||||||||||||||||||||||||||
Bancorp | 31-Dec | ||||||||||||||||||||||||||||
December 31, 2012: | Originated | PNCI | PCI | 2012 | |||||||||||||||||||||||||
Commercial real estate | $ | 254,449 | $ | 48,009 | $ | 1,402 | $ | 303,860 | |||||||||||||||||||||
Real estate construction | 14,866 | 3,594 | 486 | 18,946 | |||||||||||||||||||||||||
Real estate multi-family | 39,176 | 18,828 | — | 58,004 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 97,329 | 15,390 | — | 112,719 | |||||||||||||||||||||||||
Commercial & industrial | 42,847 | 12,717 | — | 55,564 | |||||||||||||||||||||||||
Consumer loans | 1,824 | — | — | 1,824 | |||||||||||||||||||||||||
Gross loans | 450,491 | 98,538 | 1,888 | 550,917 | |||||||||||||||||||||||||
Net deferred loan fees | (230 | ) | — | — | (230 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,124 | ) | — | — | (9,124 | ) | |||||||||||||||||||||||
Net loans | $ | 441,137 | $ | 98,538 | $ | 1,888 | $ | 541,563 | |||||||||||||||||||||
PNCI | #NAME? | ||||||||||||||||||||||||||||
PCI | #NAME? | ||||||||||||||||||||||||||||
Schedule of allowance for credit loss | ' | ||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,491 | $ | 5,331 | $ | 742 | $ | 329 | $ | 1,791 | $ | 61 | $ | 9,745 | |||||||||||||||
Charge-offs | (56 | ) | (23 | ) | — | — | (141 | ) | (5 | ) | (225 | ) | |||||||||||||||||
Recoveries | — | 2 | — | — | 1 | — | 3 | ||||||||||||||||||||||
Provision | (28 | ) | 211 | 9 | (76 | ) | 109 | 0 | 225 | ||||||||||||||||||||
Ending balance | $ | 1,407 | $ | 5,521 | $ | 751 | $ | 253 | $ | 1,760 | $ | 56 | $ | 9,748 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 209 | $ | 193 | $ | 13 | $ | — | $ | 225 | $ | 1 | $ | 641 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,198 | $ | 5,328 | $ | 738 | $ | 253 | $ | 1,535 | $ | 55 | $ | 9,107 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,876 | $ | 4,811 | $ | 857 | $ | — | $ | 1,516 | $ | 64 | $ | 9,124 | |||||||||||||||
Charge-offs | (56 | ) | (262 | ) | (81 | ) | — | (385 | ) | (6 | ) | (790 | ) | ||||||||||||||||
Recoveries | 70 | 6 | — | — | 2 | 1 | 79 | ||||||||||||||||||||||
Provision | (483 | ) | 966 | (25 | ) | 253 | 627 | (3 | ) | 1,335 | |||||||||||||||||||
Ending balance | $ | 1,407 | $ | 5,521 | $ | 751 | $ | 253 | $ | 1,760 | $ | 56 | $ | 9,748 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 209 | $ | 193 | $ | 13 | $ | — | $ | 225 | $ | 1 | $ | 641 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,198 | $ | 5,328 | $ | 738 | $ | 253 | $ | 1,535 | $ | 55 | $ | 9,107 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,734 | $ | 3,752 | $ | 834 | $ | 49 | $ | 2,026 | $ | 63 | $ | 8,458 | |||||||||||||||
Charge-offs | (219 | ) | — | — | — | (73 | ) | (1 | ) | (293 | ) | ||||||||||||||||||
Recoveries | — | 15 | — | — | 2 | — | 17 | ||||||||||||||||||||||
Provision | 84 | 118 | (257 | ) | (22 | ) | 475 | 2 | 400 | ||||||||||||||||||||
Ending balance | $ | 1,599 | $ | 3,885 | $ | 577 | $ | 27 | $ | 2,430 | $ | 64 | $ | 8,582 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 330 | $ | 470 | $ | 74 | $ | 22 | $ | 292 | $ | — | $ | 1,188 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,269 | $ | 3,415 | $ | 503 | $ | 5 | $ | 2,138 | $ | 64 | $ | 7,394 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,618 | $ | 4,745 | $ | 1,171 | $ | 671 | $ | 1,592 | $ | 100 | $ | 9,897 | |||||||||||||||
Charge-offs | (1,706 | ) | (738 | ) | (54 | ) | — | (182 | ) | (5 | ) | (2,685 | ) | ||||||||||||||||
Recoveries | 1 | 154 | — | — | 11 | 4 | 170 | ||||||||||||||||||||||
Provision | 1,686 | (276 | ) | (540 | ) | (644 | ) | 1,009 | (35 | ) | 1,200 | ||||||||||||||||||
Ending balance | $ | 1,599 | $ | 3,885 | $ | 577 | $ | 27 | $ | 2,430 | $ | 64 | $ | 8,582 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 330 | $ | 470 | $ | 74 | $ | 22 | $ | 292 | $ | — | $ | 1,188 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,269 | $ | 3,415 | $ | 503 | $ | 5 | $ | 2,138 | $ | 64 | $ | 7,394 | |||||||||||||||
Schedule of recorded investment is losses | ' | ||||||||||||||||||||||||||||
Recorded Investment in Loans at September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 47,076 | $ | 333,845 | $ | 26,587 | $ | 51,094 | $ | 108,231 | $ | 1,691 | $ | 568,524 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,155 | $ | 19,010 | $ | 192 | $ | 643 | $ | 3,719 | $ | 1 | $ | 26,720 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 43,921 | $ | 314,835 | $ | 26,395 | $ | 50,451 | $ | 104,512 | $ | 1,690 | $ | 541,804 | |||||||||||||||
Recorded Investment in Loans at September 30, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Real | Real | |||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Commercial | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Real Estate | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Ending balance | $ | 59,312 | $ | 298,471 | $ | 17,907 | $ | 61,552 | $ | 117,198 | $ | 1,950 | $ | 556,390 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,309 | $ | 9,885 | $ | 7,210 | $ | 3,242 | $ | 6,366 | $ | — | $ | 31,012 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 55,003 | $ | 288,586 | $ | 10,697 | $ | 58,310 | $ | 110,832 | $ | 1,950 | $ | 525,378 | |||||||||||||||
Schedule of impaired loans allowance | ' | ||||||||||||||||||||||||||||
Impaired Loans-Originated | |||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,514 | $ | 1,687 | $ | — | $ | 1,640 | $ | 76 | |||||||||||||||||||
Commercial real estate | 8,523 | 8,785 | — | 5,178 | 315 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 1,171 | 1,286 | — | 863 | 21 | ||||||||||||||||||||||||
Total | 11,208 | 11,758 | — | 7,681 | 412 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,641 | $ | 2,082 | $ | 209 | $ | 1,677 | $ | 12 | |||||||||||||||||||
Commercial real estate | 6,147 | 6,147 | 180 | 5,693 | 197 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 2,548 | 2,556 | 225 | 2,611 | 68 | ||||||||||||||||||||||||
Consumer | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||
Total | 10,337 | 10,786 | 615 | 9,982 | 277 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,155 | $ | 3,769 | $ | 209 | $ | 3,317 | $ | 88 | |||||||||||||||||||
Commercial real estate | 14,670 | 14,932 | 180 | 10,871 | 512 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,719 | 3,842 | 225 | 3,474 | 89 | ||||||||||||||||||||||||
Consumer | 1 | 1 | 1 | 1 | — | ||||||||||||||||||||||||
Grand total | $ | 21,545 | $ | 22,544 | $ | 615 | $ | 17,663 | $ | 689 | |||||||||||||||||||
Impaired Loans -PNCI | |||||||||||||||||||||||||||||
As of and for the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Investment | Balance | Allowance | Investment | Recognized | ||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Real estate-multi family | $ | 643 | $ | 699 | $ | — | $ | 719 | $ | 23 | |||||||||||||||||||
Commercial real estate | 3,982 | 4,859 | — | 4,869 | 219 | ||||||||||||||||||||||||
Total | 4,625 | 5,558 | — | 5,588 | 242 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate | $ | 358 | $ | 482 | $ | 13 | $ | 482 | $ | 19 | |||||||||||||||||||
Commercial real estate construction | 192 | 197 | 13 | 199 | 15 | ||||||||||||||||||||||||
Total | 550 | 679 | 26 | 681 | 34 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 192 | $ | 197 | $ | 13 | $ | 199 | $ | 15 | |||||||||||||||||||
Real estate-multi family | 643 | 699 | — | 719 | 23 | ||||||||||||||||||||||||
Commercial real estate | 4,340 | 5,341 | 13 | 5,351 | 238 | ||||||||||||||||||||||||
Grand total | $ | 5,175 | $ | 6,237 | $ | 26 | $ | 6,269 | $ | 276 | |||||||||||||||||||
Impaired Loans -Originated | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,202 | $ | 2,338 | $ | — | $ | 2,298 | $ | 120 | |||||||||||||||||||
Commercial real estate construction | — | — | — | 6,187 | 333 | ||||||||||||||||||||||||
Commercial real estate | 7,238 | 7,804 | — | 1,097 | 59 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 1,052 | 1,147 | — | 1,065 | 55 | ||||||||||||||||||||||||
Total | 10,492 | 11,289 | — | 10,647 | 567 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,965 | $ | 2,427 | $ | 384 | $ | 2,328 | $ | 30 | |||||||||||||||||||
Commercial real estate | 5,433 | 5,433 | 415 | 5,685 | 240 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,719 | 3,722 | 306 | 3,283 | 150 | ||||||||||||||||||||||||
Total | 11,117 | 11,582 | 1,105 | 11,296 | 420 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,167 | $ | 4,765 | $ | 384 | $ | 4,626 | $ | 150 | |||||||||||||||||||
Commercial real estate construction | — | — | — | 6,187 | 333 | ||||||||||||||||||||||||
Commercial real estate | 12,671 | 13,237 | 415 | 6,782 | 299 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 4,771 | 4,869 | 306 | 4,348 | 205 | ||||||||||||||||||||||||
Grand total | $ | 21,609 | $ | 22,871 | $ | 1,105 | $ | 21,943 | $ | 987 | |||||||||||||||||||
Impaired Loans -PNCI | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 2012 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | |||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate | $ | 3,428 | $ | 3,776 | $ | — | $ | 3,777 | $ | 27 | |||||||||||||||||||
Total | 3,428 | 3,776 | — | 3,777 | 27 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 681 | $ | 798 | $ | 232 | $ | 798 | $ | 4 | |||||||||||||||||||
Total | 681 | 798 | 232 | 798 | 4 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial real estate construction | $ | 681 | $ | 798 | $ | 232 | $ | 798 | $ | 4 | |||||||||||||||||||
Commercial real estate | 3,428 | 3,776 | — | 3,777 | 27 | ||||||||||||||||||||||||
Grand total | $ | 4,109 | $ | 4,574 | $ | 232 | $ | 4,575 | $ | 31 | |||||||||||||||||||
Schedule of loans on nonaccrual status | ' | ||||||||||||||||||||||||||||
Loans on Nonaccrual Status as of | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | September 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,240 | $ | 2,618 | |||||||||||||||||||||||||
Real estate - construction | 193 | 1,898 | |||||||||||||||||||||||||||
Commercial real estate | 4,912 | 6,251 | |||||||||||||||||||||||||||
Real estate multi family | 643 | — | |||||||||||||||||||||||||||
Real estate 1 to 4 family | 1,065 | 1,707 | |||||||||||||||||||||||||||
Total | $ | 9,053 | $ | 12,474 | |||||||||||||||||||||||||
Schedule of short term debt | ' | ||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the nine months | |||||||||||||||||||||||||||||
ended September 30, 2013 | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real Estate Construction | 1 | $ | 192 | $ | 192 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 3 | 1,241 | 1,241 | ||||||||||||||||||||||||||
Commercial real estate | 5 | 4,141 | 4,141 | ||||||||||||||||||||||||||
Total | 9 | $ | 5,574 | $ | 5,574 | ||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the Year Ended | |||||||||||||||||||||||||||||
12/31/12 | |||||||||||||||||||||||||||||
Number of | Pre- | Post- | |||||||||||||||||||||||||||
Contracts | Modification | Modification | |||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Commercial and industrial | 7 | $ | 2,723 | $ | 2,723 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 3 | 1,446 | 1,446 | ||||||||||||||||||||||||||
Commercial real estate | 3 | 1,409 | 1,409 | ||||||||||||||||||||||||||
Total | 13 | $ | 5,578 | $ | 5,578 | ||||||||||||||||||||||||
Schedule of age analysis of past due loans | ' | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | Recorded | |||||||||||||||||||||||||||
Days | Days | Over | Total | Investment > | |||||||||||||||||||||||||
Past | Past | 90 | Past | Total | 90 Days and | ||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | Accruing | ||||||||||||||||||||||
Commercial real estate | $ | — | — | 2,474 | 2,474 | 288,344 | 290,818 | — | |||||||||||||||||||||
Real estate construction | — | — | — | — | 22,966 | 22,966 | — | ||||||||||||||||||||||
Real estate multi family | — | — | — | — | 39,474 | 39,474 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | 771 | 62 | 1,065 | 1,898 | 95,630 | 97,528 | — | ||||||||||||||||||||||
Commercial & industrial | 336 | 11 | 2,240 | 2,587 | 34,373 | 36,960 | — | ||||||||||||||||||||||
Consumer | 20 | — | 1 | 21 | 1,670 | 1,691 | — | ||||||||||||||||||||||
Total | $ | 1,127 | $ | 73 | $ | 5,780 | $ | 6,980 | $ | 482,457 | $ | 489,437 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Not credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,098 | $ | 1,098 | $ | 40,582 | $ | 41,680 | — | ||||||||||||||||
Real estate construction | — | — | 193 | 193 | 2,840 | 3,033 | — | ||||||||||||||||||||||
Real estate multi-family | — | — | 643 | 643 | 10,977 | 11,620 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 10,703 | 10,703 | — | ||||||||||||||||||||||
Commercial & industrial | — | — | — | — | 10,116 | 10,116 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,934 | $ | 1,934 | $ | 75,218 | $ | 77,152 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,339 | $ | 1,339 | $ | 8 | $ | 1,347 | — | ||||||||||||||||
Real estate construction | — | — | — | — | 588 | 588 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,339 | $ | 1,339 | $ | 596 | $ | 1,935 | $ | — | |||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | Recorded | |||||||||||||||||||||||||||
Days | Days | Over | Total | Investment > | |||||||||||||||||||||||||
Past | Past | 90 | Past | Total | 90 Days and | ||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | Accruing | ||||||||||||||||||||||
Commercial real estate | $ | 3,942 | — | 2,525 | 6,467 | 247,982 | 254,449 | — | |||||||||||||||||||||
Real estate construction | — | — | — | — | 14,866 | 14,866 | — | ||||||||||||||||||||||
Real estate multi family | — | — | — | — | 39,176 | 39,176 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | 806 | 168 | 1,210 | 2,184 | 95,145 | 97,329 | — | ||||||||||||||||||||||
Commercial & industrial | 18 | 44 | 2,619 | 2,681 | 40,166 | 42,847 | — | ||||||||||||||||||||||
Consumer | — | — | — | — | 1,824 | 1,824 | — | ||||||||||||||||||||||
Total | $ | 4,766 | $ | 212 | $ | 6,354 | $ | 11,332 | $ | 439,159 | $ | 450,491 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Not credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | 690 | $ | — | $ | 2,212 | $ | 2,902 | $ | 45,107 | $ | 48,009 | — | ||||||||||||||||
Real estate construction | — | — | 1,411 | 1,411 | 2,183 | 3,594 | — | ||||||||||||||||||||||
Real estate multi-family | 75 | — | — | 75 | 18,753 | 18,828 | — | ||||||||||||||||||||||
Real estate 1 to 4 family | — | 119 | — | 119 | 15,271 | 15,390 | — | ||||||||||||||||||||||
Commercial & industrial | 50 | — | — | 50 | 12,667 | 12,717 | — | ||||||||||||||||||||||
Total | $ | 815 | $ | 119 | $ | 3,623 | $ | 4,557 | $ | 93,981 | $ | 98,538 | $ | — | |||||||||||||||
Recorded | |||||||||||||||||||||||||||||
Investment > | |||||||||||||||||||||||||||||
Purchased | 90 Days and | ||||||||||||||||||||||||||||
Credit impaired | Accruing | ||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1402 | $ | 1402 | $ | — | $ | 1,402 | — | ||||||||||||||||
Real estate construction | — | — | 486 | 486 | — | 486 | — | ||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,888 | $ | 1,888 | $ | — | $ | 1,888 | $ | — | |||||||||||||||
Schedule of credit quality analysis | ' | ||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 285,642 | $ | 2,342 | $ | 2,834 | $ | — | $ | 290,818 | |||||||||||||||||||
Real estate construction | 21,349 | 573 | 1,044 | — | 22,966 | ||||||||||||||||||||||||
Real estate multi-family | 39,474 | — | — | — | 39,474 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 96,463 | — | 805 | 260 | 97,528 | ||||||||||||||||||||||||
Commercial and industrial | 35,167 | — | 1,793 | — | 36,960 | ||||||||||||||||||||||||
Consumer loans | 1,690 | — | — | 1 | 1,691 | ||||||||||||||||||||||||
Totals | $ | 479,785 | $ | 2,915 | $ | 6,476 | $ | 261 | $ | 489,437 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 29,936 | $ | 5,574 | $ | 6,170 | $ | — | $ | 41,680 | |||||||||||||||||||
Real estate construction | 1,533 | — | 1,500 | — | 3,033 | ||||||||||||||||||||||||
Real estate multi-family | 11,620 | — | — | — | 11,620 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 10,291 | — | 412 | — | 10,703 | ||||||||||||||||||||||||
Commercial and industrial | 10,116 | — | — | — | 10,116 | ||||||||||||||||||||||||
Total | $ | 63,496 | $ | 5,574 | $ | 8,082 | $ | — | $ | 77,152 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,347 | |||||||||||||||||||||||||||
Real estate construction | 588 | ||||||||||||||||||||||||||||
Total | $ | 1,935 | |||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 249,991 | $ | 2,372 | $ | 2,086 | $ | — | $ | 254,449 | |||||||||||||||||||
Real estate construction | 13,266 | — | 1,600 | — | 14,866 | ||||||||||||||||||||||||
Real estate multi-family | 39,176 | — | — | — | 39,176 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 95,579 | — | 1,470 | 280 | 97,329 | ||||||||||||||||||||||||
Commercial and industrial | 39,446 | — | 2,564 | 837 | 42,847 | ||||||||||||||||||||||||
Consumer loans | 1,824 | — | — | — | 1,824 | ||||||||||||||||||||||||
Totals | $ | 439,282 | $ | 2,372 | $ | 7,720 | $ | 1,117 | $ | 450,491 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 30,600 | $ | 7,902 | $ | 9,507 | $ | — | $ | 48,009 | |||||||||||||||||||
Real estate construction | — | 39 | 3,555 | — | 3,594 | ||||||||||||||||||||||||
Real estate multi-family | 18,828 | — | — | — | 18,828 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 14,850 | — | 540 | — | 15,390 | ||||||||||||||||||||||||
Commercial and industrial | 12,717 | — | — | — | 12,717 | ||||||||||||||||||||||||
Total | $ | 76,995 | $ | 7,941 | $ | 13,602 | $ | — | $ | 98,538 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,402 | |||||||||||||||||||||||||||
Real estate construction | 486 | ||||||||||||||||||||||||||||
Total | $ | 1,888 | |||||||||||||||||||||||||||
NOTE_F_FAIR_VALUE_MEASUREMENT_
NOTE F - FAIR VALUE MEASUREMENT (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of fair value assets measured at fair value on a recurring basis | ' | ||||||||||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at September 30, 2013, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices | Other | Significant | |||||||||||||
9/30/13 | in Active | Observable | Unobservable | ||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||
for Identical | (Level 2) | (Level 3) | |||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
U. S. Treasury securities | $ | 6,134 | $ | 6,134 | $ | — | $ | — | |||||||||
Obligations of U.S. Government agencies | 87,689 | — | 87,689 | — | |||||||||||||
Mortgage-backed securities | 81,232 | — | 81,232 | — | |||||||||||||
Obligations of states and political subdivisions | 83,301 | — | 83,301 | — | |||||||||||||
Corporate debt | 27,254 | — | 27,254 | — | |||||||||||||
Total assets measured at fair value | $ | 285,610 | $ | 6,134 | $ | 279,476 | $ | — | |||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at December 31, 2012, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices | Other | Significant | |||||||||||||
12/31/12 | in Active | Observable | Unobservable | ||||||||||||||
Markets | Inputs | Inputs | |||||||||||||||
for Identical | (Level 2) | (Level 3) | |||||||||||||||
Assets | |||||||||||||||||
(Level 1) | |||||||||||||||||
U. S. Treasury securities | $ | 7,280 | $ | 7,280 | $ | — | $ | — | |||||||||
Obligations of U.S. Government agencies | 72,260 | — | 72,260 | — | |||||||||||||
Mortgage-backed securities | 55,180 | — | 55,180 | — | |||||||||||||
Obligations of states and political subdivisions | 81,609 | — | 81,609 | — | |||||||||||||
Corporate debt | 18,616 | — | 18,616 | — | |||||||||||||
Total assets measured at fair value | $ | 234,945 | $ | 7,280 | $ | 227,665 | $ | — | |||||||||
Schedule of fair value assets measured at fair value on a non-recurring basis | ' | ||||||||||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at September 30, 2013, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices in | Other | Significant | |||||||||||||
9/30/13 | Active Markets | Observable | Unobservable | ||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||
(Level 1) | |||||||||||||||||
Impaired loans | $ | 2,299 | $ | — | $ | — | $ | 2,299 | |||||||||
Total impaired assets measured at fair value | $ | 2,299 | $ | — | $ | — | $ | 2,299 | |||||||||
(Dollar amounts in thousands) | Fair Value Measurements | ||||||||||||||||
at December 31, 2012, Using | |||||||||||||||||
Description | Fair Value | Quoted Prices in | Other | ||||||||||||||
12/31/12 | Active Markets | Observable | Significant | ||||||||||||||
for Identical | Inputs | Unobservable | |||||||||||||||
Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
Impaired loans | $ | 2,494 | $ | — | $ | — | $ | 2,494 | |||||||||
Other real estate owned | 4,710 | — | — | 4,710 | |||||||||||||
Total impaired assets measured at fair value | $ | 7,204 | $ | — | $ | — | $ | 7,204 | |||||||||
Schedule of estimated fair value of financial instruments | ' | ||||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at September 30, 2013: | |||||||||||||||||
(Dollar amounts in thousands) | Carrying | Fair | Fair value measurements | ||||||||||||||
amount | value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 18,368 | $ | 18,368 | $ | 18,368 | |||||||||||
Interest-bearing time deposits with financial institutions | 6,979 | 7,088 | $ | 7,088 | |||||||||||||
Securities available for sale | 285,610 | 285,610 | 6,134 | 279,476 | |||||||||||||
Loans | 567,912 | 561,036 | $ | 561,036 | |||||||||||||
Other equity securities | 5,300 | 5,300 | 5,300 | ||||||||||||||
Accrued interest receivable | 3,855 | 3,855 | 3,855 | ||||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 781,124 | 781,517 | 781,517 | ||||||||||||||
Federal Home Loan Bank advances | 44,000 | 44,000 | 44,000 | ||||||||||||||
Accrued interest payable | 254 | 254 | 254 | ||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,419 | 1,419 | ||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at December 31, 2012: | |||||||||||||||||
(Dollar amounts in thousands) | Carrying | Fair | Fair value measurements | ||||||||||||||
amount | value | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 27,861 | $ | 27,861 | $ | 27,861 | |||||||||||
Interest-bearing time deposits with financial institutions | 13,216 | 13,216 | $ | 13,216 | |||||||||||||
Securities available for sale | 234,945 | 234,945 | 7,280 | 227,665 | |||||||||||||
Loans | 550,917 | 547,740 | $ | 547,740 | |||||||||||||
Other equity securities | 5,464 | 5,464 | 5,464 | ||||||||||||||
Accrued interest receivable | 3,760 | 3,760 | 3,760 | ||||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 768,352 | 769,043 | 769,043 | ||||||||||||||
Federal Home Loan Bank advances | 1,220 | 1,221 | 1,221 | ||||||||||||||
Accrued interest payable | 349 | 349 | 349 | ||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,026 | 1,026 | ||||||||||||||
NOTE_B_STOCK_OPTION_PLANS_Deta
NOTE B - STOCK OPTION PLANS (Detail Textuals) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ' | ' | ' |
Compensation expense for options | $70,000 | $44,000 | $192,000 | $166,000 |
Recognized income tax benefit | 43,000 | ' | 164,000 | 22,000 |
Intrinsic value options exercised | 6,000 | ' | 577,000 | ' |
Intrinsic value options exercisable | ' | ' | 1,692,000 | 84,000 |
Exercise price | $19.30 | ' | $19.30 | ' |
Expected term | ' | ' | '8 years 9 months | ' |
Threshold value for risk-free rate | ' | ' | 3.20% | ' |
Options granted, estimated value | ' | ' | $10.44 | ' |
Number of options granted | ' | ' | 60,785 | ' |
Unrecognized compensation expense nonvested options | $697,000 | ' | $697,000 | ' |
Non-vested options weighted average period | ' | ' | '3 years 7 months 6 days | ' |
NOTE_C_EARNINGS_PER_SHARE_CALC2
NOTE C - EARNINGS PER SHARE CALCULATION - Summary of Earnnigs Per Share Calculations (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net earnings | $3,131 | $4,941 | $5,440 | $7,457 |
Dividends and discount accretion on preferred stock | 251 | 158 | 581 | 501 |
Net earnings available to common shareholders | 2,880 | 4,783 | 4,859 | 6,956 |
Average number of shares outstanding (in shares) | 3,761 | 3,692 | 3,735 | 3,689 |
Effect of dilutive options | 91 | 67 | 88 | 56 |
Average number of shares outstanding used to calculate diluted earnings per share (in shares) | 3,852 | 3,759 | 3,824 | 3,745 |
Anti-dilutive options not included (in shares) | 132 | 245 | 198 | 282 |
Earnings, Three months ended September 30, 2013 | ' | ' | ' | ' |
Net earnings | 3,131 | ' | ' | ' |
Dividends and discount accretion on preferred stock | 251 | ' | ' | ' |
Net earnings available to common shareholders | 2,880 | ' | ' | ' |
Average number of shares outstanding (in shares) | 3,761 | ' | ' | ' |
Effect of dilutive options | 91 | ' | ' | ' |
Average number of shares outstanding used to calculate diluted earnings per share (in shares) | 3,852 | ' | ' | ' |
Anti-dilutive options not included (in shares) | 132 | ' | ' | ' |
Earnings, Three months ended September 30, 2012 | ' | ' | ' | ' |
Net earnings | ' | 4,941 | ' | ' |
Dividends and discount accretion on preferred stock | ' | 158 | ' | ' |
Net earnings available to common shareholders | ' | 4,783 | ' | ' |
Average number of shares outstanding (in shares) | ' | 3,692 | ' | ' |
Effect of dilutive options | ' | 67 | ' | ' |
Average number of shares outstanding used to calculate diluted earnings per share (in shares) | ' | 3,759 | ' | ' |
Anti-dilutive options not included (in shares) | ' | 245 | ' | ' |
Earnings, Nine months ended September 30, 2013 | ' | ' | ' | ' |
Net earnings | ' | ' | 5,440 | ' |
Dividends and discount accretion on preferred stock | ' | ' | 581 | ' |
Net earnings available to common shareholders | ' | ' | 4,859 | ' |
Average number of shares outstanding (in shares) | ' | ' | 3,735 | ' |
Effect of dilutive options | ' | ' | 88 | ' |
Average number of shares outstanding used to calculate diluted earnings per share (in shares) | ' | ' | 3,824 | ' |
Anti-dilutive options not included (in shares) | ' | ' | 198 | ' |
Earnings, Nine months ended September 30, 2012 | ' | ' | ' | ' |
Net earnings | ' | ' | ' | 7,457 |
Dividends and discount accretion on preferred stock | ' | ' | ' | 501 |
Net earnings available to common shareholders | ' | ' | ' | 6,956 |
Average number of shares outstanding (in shares) | ' | ' | ' | 3,689 |
Effect of dilutive options | ' | ' | ' | $56 |
Average number of shares outstanding used to calculate diluted earnings per share (in shares) | ' | ' | ' | 3,745 |
Anti-dilutive options not included (in shares) | ' | ' | ' | 282 |
NOTE_D_SECURITIES_AVAILABLE_FO2
NOTE D - SECURITIES AVAILABLE FOR SALE - Summary of Available-for-Sale Securities Amortized Cost and Carrying Value (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available for Sale Securities, Amortized cost | $286,750 | $228,390 |
Available for Sale Securities, Unrealized gains | 3,232 | 6,774 |
Available for Sale Securities, Unrealized losses | -4,372 | -219 |
Available for Sale Securities, Carrying value | 285,610 | 234,945 |
U.S. Treasury securities | ' | ' |
Available for Sale Securities, Amortized cost | 6,112 | 7,145 |
Available for Sale Securities, Unrealized gains | 58 | 135 |
Available for Sale Securities, Unrealized losses | -36 | ' |
Available for Sale Securities, Carrying value | 6,134 | 7,280 |
Obligations of U.S. government agencies | ' | ' |
Available for Sale Securities, Amortized cost | 87,843 | 71,061 |
Available for Sale Securities, Unrealized gains | 599 | 1,206 |
Available for Sale Securities, Unrealized losses | -753 | -7 |
Available for Sale Securities, Carrying value | 87,689 | 72,260 |
Mortgage-backed securities | ' | ' |
Available for Sale Securities, Amortized cost | 82,870 | 53,934 |
Available for Sale Securities, Unrealized gains | 549 | 1,383 |
Available for Sale Securities, Unrealized losses | -2,187 | -137 |
Available for Sale Securities, Carrying value | 81,232 | 55,180 |
Obligations of states and political subdivisions | ' | ' |
Available for Sale Securities, Amortized cost | 82,932 | 78,147 |
Available for Sale Securities, Unrealized gains | 1,631 | 3,515 |
Available for Sale Securities, Unrealized losses | -1,262 | -53 |
Available for Sale Securities, Carrying value | 83,301 | 81,609 |
Corporate debt | ' | ' |
Available for Sale Securities, Amortized cost | 26,993 | 18,103 |
Available for Sale Securities, Unrealized gains | 395 | 535 |
Available for Sale Securities, Unrealized losses | -134 | -22 |
Available for Sale Securities, Carrying value | $27,254 | $18,616 |
NOTE_D_SECURITIES_AVAILABLE_FO3
NOTE D - SECURITIES AVAILABLE FOR SALE - Summary of Gross Unrealized Losses on Available-for-Sale Securities (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-Sale Securities, Total Fair Value | $136,505 | $21,165 |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -4,306 | -197 |
Available-for-Sale Securities, Total Fair Value | 1,593 | 478 |
Available-for-Sale Securities, 12 Months or Longer Unrealized Losses | -66 | -22 |
Available-for-Sale Securities, Total Fair Value | 138,098 | 21,643 |
Available-for-Sale Securities, Total Unrealized Losses | -4,372 | -219 |
U.S. Treasury securities | ' | ' |
Available-for-Sale Securities, Total Fair Value | 2,023 | ' |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -36 | ' |
Available-for-Sale Securities, Total Fair Value | 2,023 | ' |
Available-for-Sale Securities, Total Unrealized Losses | -36 | ' |
Obligations of U.S. government agencies | ' | ' |
Available-for-Sale Securities, Total Fair Value | 38,092 | 4,093 |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -753 | -7 |
Available-for-Sale Securities, Total Fair Value | 38,092 | 4,093 |
Available-for-Sale Securities, Total Unrealized Losses | -753 | -7 |
Mortgage-backed securities | ' | ' |
Available-for-Sale Securities, Total Fair Value | 54,278 | 8,580 |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -2,187 | -137 |
Available-for-Sale Securities, Total Fair Value | 54,278 | 8,580 |
Available-for-Sale Securities, Total Unrealized Losses | -2,187 | -137 |
Obligations of states and political subdivisions | ' | ' |
Available-for-Sale Securities, Total Fair Value | 31,049 | 8,492 |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -1,198 | -53 |
Available-for-Sale Securities, Total Fair Value | 1,095 | ' |
Available-for-Sale Securities, 12 Months or Longer Unrealized Losses | -64 | ' |
Available-for-Sale Securities, Total Fair Value | 32,144 | 8,492 |
Available-for-Sale Securities, Total Unrealized Losses | -1,262 | -53 |
Corporate debt | ' | ' |
Available-for-Sale Securities, Total Fair Value | 11,063 | ' |
Available-for-Sale Securities, Less than 12 Months Unrealized Losses | -132 | ' |
Available-for-Sale Securities, Total Fair Value | 498 | 478 |
Available-for-Sale Securities, 12 Months or Longer Unrealized Losses | -2 | -22 |
Available-for-Sale Securities, Total Fair Value | 11,561 | 478 |
Available-for-Sale Securities, Total Unrealized Losses | ($134) | ($22) |
NOTE_D_SECURITIES_AVAILABLE_FO4
NOTE D - SECURITIES AVAILABLE FOR SALE - Summary of Investments Amortized Cost and Carrying Value Classified by Contractual Maturity (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale: | ' | ' |
Due in one year or less, Amortized Cost | $12,448 | ' |
Due in one year or less, Carrying Value | 12,588 | ' |
Due after one through five years, Amortized Cost | 107,316 | ' |
Due after one through five years, Carrying Value | 108,152 | ' |
Due after five years through ten years, Amortized Cost | 125,704 | ' |
Due after five years through ten years, Carrying Value | 124,091 | ' |
Due after ten years, Amortized Cost | 41,282 | ' |
Due after ten years, Carrying Value | 40,779 | ' |
Available-For-Sale Securities, Debt Maturities, Amortized Cost Basis | 286,750 | ' |
Securities available-for-sale at fair value | $285,610 | $234,945 |
NOTE_D_SECURITIES_AVAILABLE_FO5
NOTE D - SECURITIES AVAILABLE FOR SALE (Detail Textuals) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Gross realized gains on sale of securities | $152,000 | $906,000 |
Available for sale securities sold or called | 12,428,000 | 25,743,000 |
Available-for-sale securities, gross realized gain (loss) | ' | 8,000 |
Available-for-sale securities, gross realized gains (losses), sale proceeds | ' | 1,968,000 |
Available for sale securities pledged collateral amortized cost | 68,277,000 | ' |
Fair value securities pledged | $68,985,000 | ' |
NOTE_E_LOANS_Summary_of_Loan_P
NOTE E - LOANS - Summary of Loan Portfolio (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans Receivable | $567,912 | $550,917 |
Net deferred loan fees | -612 | -230 |
Allowance for loan losses | -9,748 | -9,124 |
Net loans | 558,164 | 541,563 |
Originated | ' | ' |
Loans Receivable | 489,437 | 450,491 |
Net deferred loan fees | -612 | -230 |
Allowance for loan losses | -9,722 | -9,124 |
Net loans | 479,103 | 441,137 |
PNCI | ' | ' |
Loans Receivable | 77,152 | 98,538 |
Net deferred loan fees | ' | ' |
Allowance for loan losses | -26 | ' |
Net loans | 77,126 | 98,538 |
PCI | ' | ' |
Loans Receivable | 1,935 | 1,888 |
Net deferred loan fees | ' | ' |
Allowance for loan losses | ' | ' |
Net loans | 1,935 | 1,888 |
Commercial real estate | ' | ' |
Loans Receivable | 333,845 | 303,860 |
Commercial real estate | Originated | ' | ' |
Loans Receivable | 290,818 | 254,449 |
Commercial real estate | PNCI | ' | ' |
Loans Receivable | 41,680 | 48,009 |
Commercial real estate | PCI | ' | ' |
Loans Receivable | 1,347 | 1,402 |
Real estate construction | ' | ' |
Loans Receivable | 26,587 | 18,946 |
Real estate construction | Originated | ' | ' |
Loans Receivable | 22,966 | 14,866 |
Real estate construction | PNCI | ' | ' |
Loans Receivable | 3,033 | 3,594 |
Real estate construction | PCI | ' | ' |
Loans Receivable | 588 | 486 |
Real estate multi-family | ' | ' |
Loans Receivable | 51,094 | 58,004 |
Real estate multi-family | Originated | ' | ' |
Loans Receivable | 39,474 | 39,176 |
Real estate multi-family | PNCI | ' | ' |
Loans Receivable | 11,620 | 18,828 |
Real estate multi-family | PCI | ' | ' |
Loans Receivable | ' | ' |
Real estate 1 to 4 family | ' | ' |
Loans Receivable | 108,231 | 112,719 |
Real estate 1 to 4 family | Originated | ' | ' |
Loans Receivable | 97,528 | 97,329 |
Real estate 1 to 4 family | PNCI | ' | ' |
Loans Receivable | 10,703 | 15,390 |
Real estate 1 to 4 family | PCI | ' | ' |
Loans Receivable | ' | ' |
Commercial & industrial | ' | ' |
Loans Receivable | 47,076 | 55,564 |
Commercial & industrial | Originated | ' | ' |
Loans Receivable | 36,960 | 42,847 |
Commercial & industrial | PNCI | ' | ' |
Loans Receivable | 10,116 | 12,717 |
Commercial & industrial | PCI | ' | ' |
Loans Receivable | ' | ' |
Consumer loans | ' | ' |
Loans Receivable | 1,691 | 1,824 |
Consumer loans | Originated | ' | ' |
Loans Receivable | 1,691 | 1,824 |
Consumer loans | PNCI | ' | ' |
Loans Receivable | ' | ' |
Consumer loans | PCI | ' | ' |
Loans Receivable | ' | ' |
NOTE_E_LOANS_Summary_of_Allowa
NOTE E - LOANS - Summary of Allowance for Credit Losses (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | $9,745 | $8,458 | $9,124 | $9,897 |
Charge-offs | -225 | -293 | -790 | -2,685 |
Recoveries | 3 | 17 | 79 | 170 |
Provision | 225 | 400 | 1,335 | 1,200 |
Ending balance | 9,748 | 8,582 | 9,748 | 8,582 |
Ending balance: individually evaluated for impairment | 641 | 1,188 | 641 | 1,188 |
Ending balance: collectively evaluated for impairment | 9,107 | 7,394 | 9,107 | 7,394 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 568,524 | 556,390 | 568,524 | 556,390 |
Ending balance: individually evaluated for impairment | 26,720 | 31,012 | 26,720 | 31,012 |
Ending balance: collectively evaluated for impairment | 541,804 | 525,378 | 541,804 | 525,378 |
Commercial & Industrial | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 1,491 | 1,734 | 1,876 | 1,618 |
Charge-offs | -56 | -219 | -56 | -1,706 |
Recoveries | ' | ' | 70 | 1 |
Provision | -28 | 84 | -483 | 1,686 |
Ending balance | 1,407 | 1,599 | 1,407 | 1,599 |
Ending balance: individually evaluated for impairment | 209 | 330 | 209 | 330 |
Ending balance: collectively evaluated for impairment | 1,198 | 1,269 | 1,198 | 1,269 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 47,076 | 59,312 | 47,076 | 59,312 |
Ending balance: individually evaluated for impairment | 3,155 | 4,309 | 3,155 | 4,309 |
Ending balance: collectively evaluated for impairment | 43,921 | 55,003 | 43,921 | 55,003 |
Commercial Real Estate | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 5,331 | 3,752 | 4,811 | 4,745 |
Charge-offs | -23 | ' | -262 | -738 |
Recoveries | 2 | 15 | 6 | 154 |
Provision | 211 | 118 | 966 | -276 |
Ending balance | 5,521 | 3,885 | 5,521 | 3,885 |
Ending balance: individually evaluated for impairment | 193 | 470 | 193 | 470 |
Ending balance: collectively evaluated for impairment | 5,328 | 3,415 | 5,328 | 3,415 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 333,845 | 298,471 | 333,845 | 298,471 |
Ending balance: individually evaluated for impairment | 19,010 | 9,885 | 19,010 | 9,885 |
Ending balance: collectively evaluated for impairment | 314,835 | 288,586 | 314,835 | 288,586 |
Real estate construction loans | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 742 | 834 | 857 | 1,171 |
Charge-offs | ' | ' | -81 | -54 |
Recoveries | ' | ' | ' | ' |
Provision | 9 | -257 | -25 | -540 |
Ending balance | 751 | 577 | 751 | 577 |
Ending balance: individually evaluated for impairment | 13 | 74 | 13 | 74 |
Ending balance: collectively evaluated for impairment | 738 | 503 | 738 | 503 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 26,587 | 17,907 | 26,587 | 17,907 |
Ending balance: individually evaluated for impairment | 192 | 7,210 | 192 | 7,210 |
Ending balance: collectively evaluated for impairment | 26,395 | 10,697 | 26,395 | 10,697 |
Real estate multi family | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 329 | 49 | ' | 671 |
Charge-offs | ' | ' | ' | ' |
Recoveries | ' | ' | ' | ' |
Provision | -76 | -22 | 253 | -644 |
Ending balance | 253 | 27 | 253 | 27 |
Ending balance: individually evaluated for impairment | ' | 22 | ' | 22 |
Ending balance: collectively evaluated for impairment | 253 | 5 | 253 | 5 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 51,094 | 61,552 | 51,094 | 61,552 |
Ending balance: individually evaluated for impairment | 643 | 3,242 | 643 | 3,242 |
Ending balance: collectively evaluated for impairment | 50,451 | 58,310 | 50,451 | 58,310 |
Real estate 1 to 4 family | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 1,791 | 2,026 | 1,516 | 1,592 |
Charge-offs | -141 | -73 | -385 | -182 |
Recoveries | 1 | 2 | 2 | 11 |
Provision | 109 | 475 | 627 | 1,009 |
Ending balance | 1,760 | 2,430 | 1,760 | 2,430 |
Ending balance: individually evaluated for impairment | 225 | 292 | 225 | 292 |
Ending balance: collectively evaluated for impairment | 1,535 | 2,138 | 1,535 | 2,138 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 108,231 | 117,198 | 108,231 | 117,198 |
Ending balance: individually evaluated for impairment | 3,719 | 6,366 | 3,719 | 6,366 |
Ending balance: collectively evaluated for impairment | 104,512 | 110,832 | 104,512 | 110,832 |
Consumer | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 61 | 63 | 64 | 100 |
Charge-offs | -5 | -1 | -6 | -5 |
Recoveries | ' | ' | 1 | 4 |
Provision | 0 | 2 | -3 | -35 |
Ending balance | 56 | 64 | 56 | 64 |
Ending balance: individually evaluated for impairment | 1 | ' | 1 | ' |
Ending balance: collectively evaluated for impairment | 55 | 64 | 55 | 64 |
Loans: | ' | ' | ' | ' |
Financing Receivable | 1,691 | 1,950 | 1,691 | 1,950 |
Ending balance: individually evaluated for impairment | 1 | ' | 1 | ' |
Ending balance: collectively evaluated for impairment | $1,690 | $1,950 | $1,690 | $1,950 |
NOTE_E_LOANS_Summary_of_Impair
NOTE E - LOANS - Summary of Impaired Loans' Recorded Investment, Unpaid Principal Balance, Related Allowance for Loan Losses, Average Investment, and Income Recognized (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | $21,545 | $21,609 |
Impaired Financing Receivable, Unpaid Principal Balance | 22,544 | 22,871 |
Impaired Financing Receivable, Related Allowance | 615 | 1,105 |
Impaired Financing Receivable, Average Recorded Investment | 17,663 | 21,943 |
Impaired Financing Receivable, Income Recognized | 689 | 987 |
PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 5,175 | 4,109 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,237 | 4,574 |
Impaired Financing Receivable, Related Allowance | 26 | 232 |
Impaired Financing Receivable, Average Recorded Investment | 6,269 | 4,575 |
Impaired Financing Receivable, Income Recognized | 276 | 31 |
Commercial & Industrial | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 3,155 | 4,167 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,769 | 4,765 |
Impaired Financing Receivable, Related Allowance | 209 | 384 |
Impaired Financing Receivable, Average Recorded Investment | 3,317 | 4,626 |
Impaired Financing Receivable, Income Recognized | 88 | 150 |
Commercial real estate construction | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance | ' | ' |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | 6,187 |
Impaired Financing Receivable, Income Recognized | ' | 333 |
Commercial real estate construction | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 192 | 681 |
Impaired Financing Receivable, Unpaid Principal Balance | 197 | 798 |
Impaired Financing Receivable, Related Allowance | 13 | 232 |
Impaired Financing Receivable, Average Recorded Investment | 199 | 798 |
Impaired Financing Receivable, Income Recognized | 15 | 4 |
Real estate multi-family | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 643 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 699 | ' |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 719 | ' |
Impaired Financing Receivable, Income Recognized | 23 | ' |
Commercial real estate | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 14,670 | 12,671 |
Impaired Financing Receivable, Unpaid Principal Balance | 14,932 | 13,237 |
Impaired Financing Receivable, Related Allowance | 180 | 415 |
Impaired Financing Receivable, Average Recorded Investment | 10,871 | 6,782 |
Impaired Financing Receivable, Income Recognized | 512 | 299 |
Commercial real estate | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 4,340 | 3,428 |
Impaired Financing Receivable, Unpaid Principal Balance | 5,341 | 3,776 |
Impaired Financing Receivable, Related Allowance | 13 | ' |
Impaired Financing Receivable, Average Recorded Investment | 5,351 | 3,777 |
Impaired Financing Receivable, Income Recognized | 238 | 27 |
Real estate 1 to 4 family | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 3,719 | 4,771 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,842 | 4,869 |
Impaired Financing Receivable, Related Allowance | 225 | 306 |
Impaired Financing Receivable, Average Recorded Investment | 3,474 | 4,348 |
Impaired Financing Receivable, Income Recognized | 89 | 205 |
Consumer | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 1 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 1 | ' |
Impaired Financing Receivable, Related Allowance | 1 | ' |
Impaired Financing Receivable, Average Recorded Investment | 1 | ' |
Impaired Financing Receivable, Income Recognized | ' | ' |
Originated, With an allowance recorded | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 10,337 | 11,117 |
Impaired Financing Receivable, Unpaid Principal Balance | 10,786 | 11,582 |
Impaired Financing Receivable, Related Allowance | 615 | 1,105 |
Impaired Financing Receivable, Average Recorded Investment | 9,982 | 11,296 |
Impaired Financing Receivable, Income Recognized | 277 | 420 |
Originated, With an allowance recorded | Commercial & Industrial | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 1,641 | 1,965 |
Impaired Financing Receivable, Unpaid Principal Balance | 2,082 | 2,427 |
Impaired Financing Receivable, Related Allowance | 209 | 384 |
Impaired Financing Receivable, Average Recorded Investment | 1,677 | 2,328 |
Impaired Financing Receivable, Income Recognized | 12 | 30 |
Originated, With an allowance recorded | Commercial real estate construction | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance | ' | ' |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | ' |
Impaired Financing Receivable, Income Recognized | ' | ' |
Originated, With an allowance recorded | Commercial real estate | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 6,147 | 5,433 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,147 | 5,433 |
Impaired Financing Receivable, Related Allowance | 180 | 415 |
Impaired Financing Receivable, Average Recorded Investment | 5,693 | 5,685 |
Impaired Financing Receivable, Income Recognized | 197 | 240 |
Originated, With an allowance recorded | Real estate 1 to 4 family | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 2,548 | 3,719 |
Impaired Financing Receivable, Unpaid Principal Balance | 2,556 | 3,722 |
Impaired Financing Receivable, Related Allowance | 225 | 306 |
Impaired Financing Receivable, Average Recorded Investment | 2,611 | 3,283 |
Impaired Financing Receivable, Income Recognized | 68 | 150 |
Originated, With an allowance recorded | Consumer | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 1 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 1 | ' |
Impaired Financing Receivable, Related Allowance | 1 | ' |
Impaired Financing Receivable, Average Recorded Investment | 1 | ' |
Impaired Financing Receivable, Income Recognized | ' | ' |
PNCI, With an allowance recorded | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 550 | 681 |
Impaired Financing Receivable, Unpaid Principal Balance | 679 | 798 |
Impaired Financing Receivable, Related Allowance | 26 | 232 |
Impaired Financing Receivable, Average Recorded Investment | 681 | 798 |
Impaired Financing Receivable, Income Recognized | 34 | 4 |
PNCI, With an allowance recorded | Commercial real estate construction | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 192 | 681 |
Impaired Financing Receivable, Unpaid Principal Balance | 197 | 798 |
Impaired Financing Receivable, Related Allowance | 13 | 232 |
Impaired Financing Receivable, Average Recorded Investment | 199 | 798 |
Impaired Financing Receivable, Income Recognized | 15 | 4 |
PNCI, With an allowance recorded | Commercial real estate | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 358 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 482 | ' |
Impaired Financing Receivable, Related Allowance | 13 | ' |
Impaired Financing Receivable, Average Recorded Investment | 482 | ' |
Impaired Financing Receivable, Income Recognized | 19 | ' |
Originated, With no related allowance recorded | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 11,208 | 10,492 |
Impaired Financing Receivable, Unpaid Principal Balance | 11,758 | 11,289 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 7,681 | 10,647 |
Impaired Financing Receivable, Income Recognized | 412 | 567 |
Originated, With no related allowance recorded | Commercial & Industrial | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 1,514 | 2,202 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,687 | 2,338 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 1,640 | 2,298 |
Impaired Financing Receivable, Income Recognized | 76 | 120 |
Originated, With no related allowance recorded | Commercial real estate construction | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance | ' | ' |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | 6,187 |
Impaired Financing Receivable, Income Recognized | ' | 333 |
Originated, With no related allowance recorded | Commercial real estate | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 8,523 | 7,238 |
Impaired Financing Receivable, Unpaid Principal Balance | 8,785 | 7,804 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 5,178 | 1,097 |
Impaired Financing Receivable, Income Recognized | 315 | 59 |
Originated, With no related allowance recorded | Real estate 1 to 4 family | Originated | ' | ' |
Impaired Financing Receivable, Recorded Investment | 1,171 | 1,052 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,286 | 1,147 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 863 | 1,065 |
Impaired Financing Receivable, Income Recognized | 21 | 55 |
PNCI, With no related allowance recorded | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 4,625 | 3,428 |
Impaired Financing Receivable, Unpaid Principal Balance | 5,558 | 3,776 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 5,588 | 3,777 |
Impaired Financing Receivable, Income Recognized | 242 | 27 |
PNCI, With no related allowance recorded | Real estate multi-family | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 643 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 699 | ' |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 719 | ' |
Impaired Financing Receivable, Income Recognized | 23 | ' |
PNCI, With no related allowance recorded | Commercial real estate | PNCI | ' | ' |
Impaired Financing Receivable, Recorded Investment | 3,982 | 3,428 |
Impaired Financing Receivable, Unpaid Principal Balance | 4,859 | 3,776 |
Impaired Financing Receivable, Related Allowance | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 4,869 | 3,777 |
Impaired Financing Receivable, Income Recognized | $219 | $27 |
NOTE_E_LOANS_Loans_On_NonAccru
NOTE E - LOANS - Loans On NonAccrual Status (Details 3) (USD $) | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | Commercial & Industrial | Commercial & Industrial | Real estate - construction | Real estate - construction | Commercial real estate | Commercial real estate | Real estate multi family | Real estate multi family | Real estate 1 to 4 family | Real estate 1 to 4 family |
Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | Loan On Non Accrual Status 31 December 2012 | Loans On Non Accrual Status 31 September 2013 | |||
Financing receivable | $12,474 | $9,053 | $2,618 | $2,240 | $1,898 | $193 | $6,251 | $4,912 | ' | $643 | $1,707 | $1,065 |
NOTE_E_LOANS_Summary_of_Loan_M
NOTE E - LOANS - Summary of Loan Modifications (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Contract | Contract |
Loan Categories, Number of Contracts | 9 | 13 |
Loan Categories, Pre-Modification Outstanding Recorded Investment | $5,574 | $5,578 |
Loan Categories, Post-Modification Outstanding Recorded Investment | 5,574 | 5,578 |
Commercial & Industrial | ' | ' |
Loan Categories, Number of Contracts | ' | 7 |
Loan Categories, Pre-Modification Outstanding Recorded Investment | ' | 2,723 |
Loan Categories, Post-Modification Outstanding Recorded Investment | ' | 2,723 |
Real Estate Construction | ' | ' |
Loan Categories, Number of Contracts | 1 | ' |
Loan Categories, Pre-Modification Outstanding Recorded Investment | 192 | ' |
Loan Categories, Post-Modification Outstanding Recorded Investment | 192 | ' |
Real estate 1 to 4 family | ' | ' |
Loan Categories, Number of Contracts | 3 | 3 |
Loan Categories, Pre-Modification Outstanding Recorded Investment | 1,241 | 1,446 |
Loan Categories, Post-Modification Outstanding Recorded Investment | 1,241 | 1,446 |
Commercial real estate | ' | ' |
Loan Categories, Number of Contracts | 5 | 3 |
Loan Categories, Pre-Modification Outstanding Recorded Investment | 4,141 | 1,409 |
Loan Categories, Post-Modification Outstanding Recorded Investment | $4,141 | $1,409 |
NOTE_E_LOANS_Age_Analysis_Of_P
NOTE E - LOANS - Age Analysis Of Past Due Loans (Details 5) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Purchased | ' | ' | ' |
Financing Receivable, Current | $568,524 | ' | $556,390 |
Net loans | 558,164 | 541,563 | ' |
Receivables 30 to 59 Days Past Due | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | 1,127 | 4,766 | ' |
Receivables 30 to 59 Days Past Due | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | 815 | ' |
Receivables 30 to 59 Days Past Due | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | 3,942 | ' |
Receivables 30 to 59 Days Past Due | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | 690 | ' |
Receivables 30 to 59 Days Past Due | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | 75 | ' |
Receivables 30 to 59 Days Past Due | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | 771 | 806 | ' |
Receivables 30 to 59 Days Past Due | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | ' | ' |
Receivables 30 to 59 Days Past Due | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | 336 | 18 | ' |
Receivables 30 to 59 Days Past Due | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | ' | 50 | ' |
Receivables 30 to 59 Days Past Due | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 30-59 Days Past Due | 20 | ' | ' |
Loans Past Due 60 To 89 Days | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | 73 | 212 | ' |
Loans Past Due 60 To 89 Days | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | 119 | ' |
Loans Past Due 60 To 89 Days | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | 62 | 168 | ' |
Loans Past Due 60 To 89 Days | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | 119 | ' |
Loans Past Due 60 To 89 Days | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | 11 | 44 | ' |
Loans Past Due 60 To 89 Days | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Loans Past Due 60 To 89 Days | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, 60-89 Days Past Due | ' | ' | ' |
Greater Than 90 Days Past Due | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 5,780 | 6,354 | ' |
Greater Than 90 Days Past Due | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1,934 | 3,623 | ' |
Greater Than 90 Days Past Due | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1,339 | 1,888 | ' |
Greater Than 90 Days Past Due | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 2,474 | 2,525 | ' |
Greater Than 90 Days Past Due | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1,098 | 2,212 | ' |
Greater Than 90 Days Past Due | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1,339 | 1,402 | ' |
Greater Than 90 Days Past Due | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | ' | ' | ' |
Greater Than 90 Days Past Due | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 193 | 1,411 | ' |
Greater Than 90 Days Past Due | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | ' | 486 | ' |
Greater Than 90 Days Past Due | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | ' | ' | ' |
Greater Than 90 Days Past Due | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 643 | ' | ' |
Greater Than 90 Days Past Due | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1,065 | 1,210 | ' |
Greater Than 90 Days Past Due | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | ' | ' | ' |
Greater Than 90 Days Past Due | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 2,240 | 2,619 | ' |
Greater Than 90 Days Past Due | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | ' | ' | ' |
Greater Than 90 Days Past Due | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Over 90 Days | 1 | ' | ' |
Total Past Due | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 6,980 | 11,332 | ' |
Total Past Due | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 1,934 | 4,557 | ' |
Total Past Due | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 1,339 | 1,888 | ' |
Total Past Due | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 2,474 | 6,467 | ' |
Total Past Due | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 1,098 | 2,902 | ' |
Total Past Due | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 1,339 | 1,402 | ' |
Total Past Due | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | ' | ' | ' |
Total Past Due | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 193 | 1,411 | ' |
Total Past Due | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | ' | 486 | ' |
Total Past Due | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | ' | ' | ' |
Total Past Due | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 643 | 75 | ' |
Total Past Due | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 1,898 | 2,184 | ' |
Total Past Due | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | ' | 119 | ' |
Total Past Due | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 2,587 | 2,681 | ' |
Total Past Due | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | ' | 50 | ' |
Total Past Due | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Total Past Due | 21 | ' | ' |
Current | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 482,457 | 439,159 | ' |
Current | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 75,218 | 93,981 | ' |
Current | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 596 | ' | ' |
Current | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 288,344 | 247,982 | ' |
Current | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 40,582 | 45,107 | ' |
Current | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 8 | ' | ' |
Current | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 22,966 | 14,866 | ' |
Current | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 2,840 | 2,183 | ' |
Current | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | ' | ' | ' |
Net loans | 588 | ' | ' |
Current | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 39,474 | 39,176 | ' |
Current | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 10,977 | 18,753 | ' |
Current | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 95,630 | 95,145 | ' |
Current | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 10,703 | 15,271 | ' |
Current | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 34,373 | 40,166 | ' |
Current | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 10,116 | 12,667 | ' |
Current | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Current | 1,670 | 1,824 | ' |
Total Loans | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 489,437 | 450,491 | ' |
Total Loans | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 77,152 | 98,538 | ' |
Total Loans | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 1,935 | 1,888 | ' |
Total Loans | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 290,818 | 254,449 | ' |
Total Loans | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 41,680 | 48,009 | ' |
Total Loans | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 1,347 | 1,402 | ' |
Total Loans | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 22,966 | 14,866 | ' |
Total Loans | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 3,033 | 3,594 | ' |
Total Loans | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 588 | 486 | ' |
Total Loans | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 39,474 | 39,176 | ' |
Total Loans | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 11,620 | 18,828 | ' |
Total Loans | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 97,528 | 97,329 | ' |
Total Loans | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 10,703 | 15,390 | ' |
Total Loans | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 36,960 | 42,847 | ' |
Total Loans | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 10,116 | 12,717 | ' |
Total Loans | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Net loans | 1,691 | 1,824 | ' |
Recorded Investment > 90 Days and Accruing | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Commercial real estate | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Commercial real estate | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Commercial real estate | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate construction | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate construction | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate construction | Credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate multi family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate multi family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate 1 to 4 family | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Real estate 1 to 4 family | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Commercial & Industrial | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Commercial & Industrial | Purchased Not credit impaired | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
Recorded Investment > 90 Days and Accruing | Consumer | Originated | ' | ' | ' |
Purchased | ' | ' | ' |
Financing Receivable, Recorded Investment > 90 Days and Accruing | ' | ' | ' |
NOTE_E_LOANS_Summary_of_Credit
NOTE E - LOANS - Summary of Credit Quality Indicators (Details 6) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Purchased | ' | ' |
Net loans | $558,164 | $541,563 |
Originated | ' | ' |
Purchased | ' | ' |
Net loans | 489,437 | 450,491 |
Originated | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 479,785 | 439,282 |
Originated | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | 2,915 | 2,372 |
Originated | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 6,476 | 7,720 |
Originated | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | 261 | 1,117 |
Originated | Commercial real estate | ' | ' |
Purchased | ' | ' |
Net loans | 290,818 | 254,449 |
Originated | Commercial real estate | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 285,642 | 249,991 |
Originated | Commercial real estate | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | 2,342 | 2,372 |
Originated | Commercial real estate | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 2,834 | 2,086 |
Originated | Commercial real estate | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real Estate Construction | ' | ' |
Purchased | ' | ' |
Net loans | 22,966 | 14,866 |
Originated | Real Estate Construction | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 21,349 | 13,266 |
Originated | Real Estate Construction | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | 573 | ' |
Originated | Real Estate Construction | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 1,044 | 1,600 |
Originated | Real Estate Construction | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real estate multi family | ' | ' |
Purchased | ' | ' |
Net loans | 39,474 | 39,176 |
Originated | Real estate multi family | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 39,474 | 39,176 |
Originated | Real estate multi family | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real estate multi family | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real estate multi family | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real estate 1 to 4 family | ' | ' |
Purchased | ' | ' |
Net loans | 97,528 | 97,329 |
Originated | Real estate 1 to 4 family | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 96,463 | 95,579 |
Originated | Real estate 1 to 4 family | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Real estate 1 to 4 family | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 805 | 1,470 |
Originated | Real estate 1 to 4 family | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | 260 | 280 |
Originated | Commercial & Industrial | ' | ' |
Purchased | ' | ' |
Net loans | 36,960 | 42,847 |
Originated | Commercial & Industrial | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 35,167 | 39,446 |
Originated | Commercial & Industrial | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Commercial & Industrial | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 1,793 | 2,564 |
Originated | Commercial & Industrial | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | 837 |
Originated | Consumer loans | ' | ' |
Purchased | ' | ' |
Net loans | 1,691 | 1,824 |
Originated | Consumer loans | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 1,690 | 1,824 |
Originated | Consumer loans | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Consumer loans | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Originated | Consumer loans | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | 1 | ' |
Purchased Not credit impaired | ' | ' |
Purchased | ' | ' |
Net loans | 77,152 | 98,538 |
Purchased Not credit impaired | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 63,496 | 76,995 |
Purchased Not credit impaired | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | 5,574 | 7,941 |
Purchased Not credit impaired | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 8,082 | 13,602 |
Purchased Not credit impaired | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Commercial real estate | ' | ' |
Purchased | ' | ' |
Net loans | 41,680 | 48,009 |
Purchased Not credit impaired | Commercial real estate | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 29,936 | 30,600 |
Purchased Not credit impaired | Commercial real estate | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | 5,574 | 7,902 |
Purchased Not credit impaired | Commercial real estate | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 6,170 | 9,507 |
Purchased Not credit impaired | Commercial real estate | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real Estate Construction | ' | ' |
Purchased | ' | ' |
Net loans | 3,033 | 3,594 |
Purchased Not credit impaired | Real Estate Construction | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 1,533 | ' |
Purchased Not credit impaired | Real Estate Construction | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | 39 |
Purchased Not credit impaired | Real Estate Construction | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 1,500 | 3,555 |
Purchased Not credit impaired | Real Estate Construction | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real estate multi family | ' | ' |
Purchased | ' | ' |
Net loans | 11,620 | 18,828 |
Purchased Not credit impaired | Real estate multi family | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 11,620 | 18,828 |
Purchased Not credit impaired | Real estate multi family | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real estate multi family | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real estate multi family | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real estate 1 to 4 family | ' | ' |
Purchased | ' | ' |
Net loans | 10,703 | 15,390 |
Purchased Not credit impaired | Real estate 1 to 4 family | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 10,291 | 14,850 |
Purchased Not credit impaired | Real estate 1 to 4 family | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Real estate 1 to 4 family | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | 412 | 540 |
Purchased Not credit impaired | Real estate 1 to 4 family | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Commercial & Industrial | ' | ' |
Purchased | ' | ' |
Net loans | 10,116 | 12,717 |
Purchased Not credit impaired | Commercial & Industrial | Pass | ' | ' |
Purchased | ' | ' |
Net loans | 10,116 | 12,717 |
Purchased Not credit impaired | Commercial & Industrial | Special mention | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Commercial & Industrial | Sub-standard | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Purchased Not credit impaired | Commercial & Industrial | Doubtful | ' | ' |
Purchased | ' | ' |
Net loans | ' | ' |
Credit impaired | ' | ' |
Purchased | ' | ' |
Net loans | 1,935 | 1,888 |
Credit impaired | Commercial real estate | ' | ' |
Purchased | ' | ' |
Net loans | 1,347 | 1,402 |
Credit impaired | Real Estate Construction | ' | ' |
Purchased | ' | ' |
Net loans | $588 | $486 |
NOTE_E_LOANS_Detail_Textuals
NOTE E - LOANS (Detail Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
PNCI | ' | ' |
Impaired Loans | $5,175 | $4,109 |
Originated | ' | ' |
Impaired Loans | $21,545 | $21,609 |
NOTE_E_LOANS_Detail_Textuals_1
NOTE E - LOANS (Detail Textuals 1) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' | ' |
Non accrual loans | $9,053,000 | $12,474,000 |
Interest income on impaired loans | 965,000 | 987,000 |
Interest income on impaired loans not collected | 529,000 | 1,358,000 |
Cumulative unpaid interest on impaired loans | $3,303,000 | $2,774,000 |
NOTE_E_LOANS_Detail_Textuals_2
NOTE E - LOANS (Detail Textuals 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loan Categories | $5,574 | $5,578 |
Loan Categories | 5,574 | 5,578 |
Commercial loans | ' | ' |
Loan Categories | ' | 2,723 |
Loan Categories | ' | 2,723 |
Commercial real estate loans | ' | ' |
Loan Categories | 4,141 | 1,409 |
Loan Categories | 4,141 | 1,409 |
Real estate construction loans | ' | ' |
Loan Categories | 192 | ' |
Loan Categories | 192 | ' |
Real estate one to four family (residential) | ' | ' |
Loan Categories | 1,241 | 1,446 |
Loan Categories | $1,241 | $1,446 |
NOTE_F_FAIR_VALUE_MEASUREMENT_1
NOTE F - FAIR VALUE MEASUREMENT - Fair Value Measurements Assets Measured On Recurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
U. S. Treasury securities | $6,134 | $7,280 |
Obligations of U.S. Government agencies | 87,689 | 72,260 |
Mortgage-backed securities | 81,232 | 55,180 |
Obligations of states and political subdivisions | 83,301 | 81,609 |
Total assets measured at fair value | 285,610 | 234,945 |
Fair Value, Inputs, Level 1 | ' | ' |
U. S. Treasury securities | 6,134 | 7,280 |
Obligations of U.S. Government agencies | ' | ' |
Mortgage-backed securities | ' | ' |
Obligations of states and political subdivisions | ' | ' |
Total assets measured at fair value | 6,134 | 7,280 |
Fair Value, Inputs, Level 2 | ' | ' |
U. S. Treasury securities | ' | ' |
Obligations of U.S. Government agencies | 87,689 | 72,260 |
Mortgage-backed securities | 81,232 | 55,180 |
Obligations of states and political subdivisions | 83,301 | 81,609 |
Total assets measured at fair value | 279,476 | 227,665 |
Fair Value, Inputs, Level 3 | ' | ' |
U. S. Treasury securities | ' | ' |
Obligations of U.S. Government agencies | ' | ' |
Mortgage-backed securities | ' | ' |
Obligations of states and political subdivisions | ' | ' |
Total assets measured at fair value | ' | ' |
Corporate Debt | ' | ' |
Corporate debt | 27,254 | 18,616 |
Corporate Debt | Fair Value, Inputs, Level 1 | ' | ' |
Corporate debt | ' | ' |
Corporate Debt | Fair Value, Inputs, Level 2 | ' | ' |
Corporate debt | 27,254 | 18,616 |
Corporate Debt | Fair Value, Inputs, Level 3 | ' | ' |
Corporate debt | ' | ' |
NOTE_F_FAIR_VALUE_MEASUREMENT_2
NOTE F - FAIR VALUE MEASUREMENT - Fair Value of Assets on Non-Recurring Basis (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired loans | $561,036 | $547,740 |
Other real estate owned | 6,134 | 7,280 |
Total impaired assets measured at fair value | 285,610 | 234,945 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Other real estate owned | 6,134 | 7,280 |
Total impaired assets measured at fair value | 6,134 | 7,280 |
Other Observable Inputs (Level 2) | ' | ' |
Other real estate owned | ' | ' |
Total impaired assets measured at fair value | 279,476 | 227,665 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Impaired loans | 561,036 | 547,740 |
Other real estate owned | ' | ' |
Total impaired assets measured at fair value | ' | ' |
Impaired Asset | ' | ' |
Impaired loans | 2,299 | 2,494 |
Other real estate owned | ' | 4,710 |
Total impaired assets measured at fair value | 2,299 | 7,204 |
Impaired Asset | Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Impaired loans | ' | ' |
Other real estate owned | ' | ' |
Impaired Asset | Other Observable Inputs (Level 2) | ' | ' |
Impaired loans | ' | ' |
Other real estate owned | ' | ' |
Impaired Asset | Significant Unobservable Inputs (Level 3) | ' | ' |
Impaired loans | 2,299 | 2,494 |
Other real estate owned | ' | 4,710 |
Total impaired assets measured at fair value | $2,299 | $7,204 |
NOTE_F_FAIR_VALUE_MEASUREMENT_3
NOTE F - FAIR VALUE MEASUREMENT - Fair Value Measurements of Financial Assets on Recurring Basis (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $18,368 | $27,861 | $70,803 | $38,474 |
Cash and cash equivalents | 18,368 | 27,861 | ' | ' |
Interest-bearing time deposits with financial institutions | 6,979 | 13,216 | ' | ' |
Interest-bearing time deposits with financial institutions | 7,088 | 13,216 | ' | ' |
Securities available for sale | 285,610 | 234,945 | ' | ' |
Securities available for sale | 285,610 | 234,945 | ' | ' |
Loans | 567,912 | 550,917 | ' | ' |
Loans | 561,036 | 547,740 | ' | ' |
Other equity securities | 5,300 | 5,464 | ' | ' |
Other equity securities | 5,300 | 5,464 | ' | ' |
Accrued interest receivable | 3,855 | 3,760 | ' | ' |
Accrued interest receivable | 3,855 | 3,760 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 781,124 | 768,352 | ' | ' |
Deposits | 781,517 | 769,043 | ' | ' |
Federal Home Loan Bank advances | 44,000 | 1,220 | ' | ' |
Federal Home Loan Bank advances | 44,000 | 1,221 | ' | ' |
Accrued interest payable | 254 | 349 | ' | ' |
Accrued interest payable | 254 | 349 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 1,419 | 1,026 | ' | ' |
Fair Value, Inputs, Level 1 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 18,368 | 27,861 | ' | ' |
Securities available for sale | 6,134 | 7,280 | ' | ' |
Fair Value, Inputs, Level 2 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Interest-bearing time deposits with financial institutions | 7,088 | 13,216 | ' | ' |
Securities available for sale | 279,476 | 227,665 | ' | ' |
Accrued interest receivable | 3,855 | 3,760 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 781,517 | 769,043 | ' | ' |
Federal Home Loan Bank advances | 44,000 | 1,221 | ' | ' |
Accrued interest payable | 254 | 349 | ' | ' |
Fair Value, Inputs, Level 3 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Loans | 561,036 | 547,740 | ' | ' |
Other equity securities | 5,300 | 5,464 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | $1,419 | $1,026 | ' | ' |
NOTE_F_FAIR_VALUE_MEASUREMENT_4
NOTE F - FAIR VALUE MEASUREMENT (Detail Textuals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Loans Payable | $9,053,000 | $12,474,000 |
NOTE_G_PREFERRED_STOCK_Detail_
NOTE G - PREFERRED STOCK (Detail Textuals) (USD $) | 9 Months Ended | 0 Months Ended | ||||
Sep. 30, 2013 | 6-May-13 | Dec. 31, 2012 | Sep. 15, 2011 | Sep. 15, 2011 | Sep. 15, 2011 | |
Payment Terms First Five Years | Payment Terms First Two Years | Payment Terms Four and Half Years and After | ||||
Series C Preferred Stock | Series C Preferred Stock | Series C Preferred Stock | ||||
Preferred stock, dividend rate, percentage | 5.00% | ' | ' | 5.00% | 7.00% | 9.00% |
Preferred stock, dividend payment terms | ' | ' | ' | ' | 'Two years | '4.5 years |
Preferred stock value | $9,450,000 | $12,600,000 | $12,600,000 | ' | ' | ' |
Preferred stock, redemption amount | ' | $3,150,000 | ' | ' | ' | ' |
Preferred stock, redemption amount percentage | ' | 25.00% | ' | ' | ' | ' |