Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 04, 2014 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'FNB BANCORP/CA/ | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001163199 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 4,048,000 |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (Dollar amounts in thousands) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $21,682 | $14,007 |
Interest-bearing time deposits with financial institutions | 4,461 | 5,543 |
Securities available-for-sale, at fair value | 267,795 | 263,988 |
Loans, net of allowance for loan losses of $10,859 and $9,879 on June 30, 2014 and December 31, 2013 | 560,432 | 552,343 |
Bank premises, equipment, and leasehold improvements, net | 12,429 | 12,512 |
Bank-owned life insurance, net | 12,337 | 12,151 |
Other equity securities | 5,576 | 5,300 |
Accrued interest receivable | 3,674 | 3,808 |
Other real estate owned, net | 754 | 5,318 |
Goodwill | 1,841 | 1,841 |
Prepaid expenses | 504 | 701 |
Other assets | 13,945 | 14,418 |
Total assets | 905,430 | 891,930 |
Deposits | ' | ' |
Demand, noninterest bearing | 203,854 | 198,523 |
Demand, interest bearing | 82,163 | 80,746 |
Savings and money market | 397,457 | 370,194 |
Time | 106,748 | 124,152 |
Total deposits | 790,222 | 773,615 |
Federal Home Loan Bank advances | 7,000 | 15,000 |
Notes Payable | 5,850 | 0 |
Accrued expenses and other liabilities | 11,215 | 9,066 |
Total liabilities | 814,287 | 797,681 |
Stockholders' equity | ' | ' |
Preferred stock - series C - no par value, authorized and outstanding 9,450 shares at December 31, 2013 (liquidation preference of $1,000 per share) | 0 | 9,450 |
Common stock, no par value, authorized 10,000,000 shares; issued and outstanding 4,045,970 shares at June 30, 2014 and 3,978,505 shares at December 31, 2013 | 60,717 | 59,317 |
Retained earnings | 29,183 | 26,738 |
Accumulated other comprehensive loss, net of tax | 1,243 | -1,256 |
Total stockholders' equity | 91,143 | 94,249 |
Total liabilities and stockholders' equity | $905,430 | $891,930 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parentheticals (Dollar amounts in thousands) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Stock Transactions, Parenthetical Disclosures [Abstract] | ' | ' |
Allowance for loan losses | ($10,859) | ($9,879) |
Preferred Stock, Series C shares authorized | ' | 9,450 |
Preferred Stock, Series C shares outstanding | ' | 9,450 |
Preferred stock, series C liquidation preference per share (in dollars per share) | ' | $1,000 |
Common Stock, shares authorized | 10,000,000 | 10,000,000 |
Common Stock, shares issued | 4,045,970 | 3,978,505 |
Common Stock, shares outstanding | 4,045,970 | 3,978,505 |
Consolidated_Statements_of_Ear
Consolidated Statements of Earnings (Unaudited) (Dollar amounts in thousands) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income | ' | ' | ' | ' |
Interest and fees on loans | $7,897 | $8,020 | $15,524 | $16,178 |
Interest on taxable securities | 851 | 794 | 1,694 | 1,478 |
Interest on tax-exempt securities | 492 | 503 | 980 | 1,009 |
Interest on time deposits with other financial institutions | 27 | 49 | 46 | 90 |
Total interest income | 9,267 | 9,366 | 18,244 | 18,755 |
Interest expense | ' | ' | ' | ' |
On deposits | 484 | 639 | 945 | 1,321 |
Interest on FHLB advances | 3 | 0 | 11 | 0 |
Interest on note payable | 68 | 0 | 68 | 0 |
Total interest expense | 555 | 639 | 1,024 | 1,321 |
Net interest income | 8,712 | 8,727 | 17,220 | 17,434 |
Provision for loan losses | 0 | 510 | 75 | 1,110 |
Net interest income after provision for loan losses | 8,712 | 8,217 | 17,145 | 16,324 |
Noninterest income | ' | ' | ' | ' |
Service charges | 647 | 676 | 1,284 | 1,335 |
Credit card fees | 0 | 3 | 0 | 10 |
Net gain on sale of available-for-sale securities | 28 | 73 | 39 | 115 |
Bank-owned life insurance earnings | 90 | 94 | 186 | 189 |
Other income | 215 | 238 | 517 | 419 |
Total noninterest income | 980 | 1,084 | 2,026 | 2,068 |
Noninterest expense | ' | ' | ' | ' |
Salaries and employee benefits | 4,177 | 4,312 | 8,395 | 8,728 |
Occupancy expense | 694 | 846 | 1,374 | 1,808 |
Equipment expense | 406 | 386 | 797 | 784 |
Professional fees | 501 | 444 | 1,032 | 807 |
FDIC assessment | 180 | 180 | 360 | 360 |
Telephone, postage and supplies | 313 | 277 | 599 | 714 |
Advertising | 136 | 121 | 221 | 293 |
Data processing expense | 134 | 170 | 279 | 326 |
Low income housing expense | 110 | 109 | 220 | 219 |
Surety insurance | 67 | 67 | 134 | 121 |
Directors expense | 63 | 63 | 126 | 126 |
Loss (gain) on sale of other real estate owned | 60 | 0 | -220 | 0 |
Other real estate owned expense, net | 11 | 28 | 88 | 78 |
Other expense | 358 | 382 | 647 | 760 |
Total noninterest expense | 7,210 | 7,385 | 14,052 | 15,124 |
Earnings before provision for income tax expense | 2,482 | 1,916 | 5,119 | 3,268 |
Provision for income tax expense | 853 | 537 | 1,656 | 959 |
Net earnings | 1,629 | 1,379 | 3,463 | 2,309 |
Dividends and discount accretion on preferred stock | 0 | 172 | 170 | 330 |
Net earnings available to common stockholders | $1,629 | $1,207 | $3,293 | $1,979 |
Earnings per share data: | ' | ' | ' | ' |
Basic | $0.40 | $0.31 | $0.82 | $0.51 |
Diluted | $0.39 | $0.30 | $0.80 | $0.49 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic | 4,029 | 3,915 | 4,007 | 3,908 |
Diluted | 4,159 | 4,003 | 4,142 | 4,000 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Earnings (Unaudited) (Dollar amounts in thousands) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' | ' |
Net earnings | $1,629 | $1,379 | $3,463 | $2,309 |
Unrealized holding gain (loss) on available-for-sale securities, net of tax expense of ($1,034) and ($1,754) for three and six months ended June 30, 2014, and net of tax benefit of $2,783 and $3,074 for three and six months ended June 30, 2013. | 1,487 | -4,005 | 2,522 | -4,423 |
Reclassification adjustment for gain on available-for-sale securities sold, net of tax of $11 and $16 for three and six months ended June 30, 2014, and $30 and $47 for the three and six months ended June 30, 2013, respectively | -17 | -43 | -23 | -68 |
Other Comprehensive Income / (loss) | 1,470 | -4,048 | 2,499 | -4,491 |
Total comprehensive earnings (loss) | $3,099 | ($2,669) | $5,962 | ($2,182) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Earnings (Parentheticals) (Dollar amounts in thousands) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Other Comprehensive Earnings Parentheticals | ' | ' | ' | ' |
Tax on unrealized holding gain (loss) on available-for-sale securities (in dollars) | ($1,034) | $2,783 | ($1,754) | $3,074 |
Tax on reclassification adjustment for gain on available-for-sale (in dollars) | $11 | $30 | $16 | $47 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollar amounts in thousands) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flow from operating activities: | ' | ' |
Net earnings | $3,463 | $2,309 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Net gain on sale of securities available-for-sale | -39 | -115 |
Gain on sale of other real estate owned, net | -220 | 0 |
Depreciation, amortization and accretion | 1,730 | 1,843 |
Stock-based compensation expense | 139 | 121 |
Earnings on bank owned life insurance | -186 | -189 |
Change in net deferred loan fees | -18 | 130 |
Provision for loan losses | 75 | 1,110 |
Decrease in accrued interest receivable | 134 | -126 |
Decrease in prepaid expense | 197 | 654 |
Decrease in other assets | 661 | 898 |
(Increase) decrease in accrued expenses and other liabilities | -33 | 431 |
Net cash provided by operating activities | 5,903 | 7,066 |
Cash flows from investing activities: | ' | ' |
Purchase of securities available-for-sale | -18,791 | -77,996 |
Proceeds from matured/called/sold securities available-for-sale | 18,138 | 22,803 |
Investment, net of redemption, in other equity securities | -276 | 164 |
Redemption of time deposits of other banks | 1,082 | 4,743 |
Proceeds from sale of other real estate owned | 1,461 | 0 |
Net investment in other real estate owned | -77 | -25 |
Net (increase) decrease in loans | -4,746 | 9,085 |
Purchases of bank premises, equipment, leasehold improvements | -526 | -618 |
Net cash used in investing activities | -3,735 | -41,844 |
Cash flows from financing activities: | ' | ' |
Net increase in demand and savings deposits | 34,011 | 57,100 |
Net decrease in time deposits | -17,404 | -22,652 |
Decrease in FHLB advances | -8,000 | -719 |
Proceeds from notes payable | 6,000 | 0 |
Payments on notes payable | -150 | 0 |
Dividends paid on common stock | -403 | -301 |
Exercise of stock options | 1,073 | 667 |
Redemption of preferred stock series C | -9,450 | -3,150 |
Dividends paid on preferred stock series C | -170 | -330 |
Net cash provided by financing activities | 5,507 | 30,615 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 7,675 | -4,163 |
Cash and cash equivalents at beginning of period | 14,007 | 27,861 |
Cash and cash equivalents at end of period | 21,682 | 23,698 |
Additional cash flow information: | ' | ' |
Interest paid | 1,009 | 1,372 |
Income taxes paid | 1,537 | 0 |
Non-cash investing and financing activities: | ' | ' |
Accrued dividends | 445 | 376 |
Change in unrealized gain in available for-sale securities, net of tax | 2,499 | -4,491 |
OREO sale funded by A38loan origination | $3,400 | $0 |
A_BASIS_OF_PRESENTATION
A. BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2014 | |
BASIS OF PRESENTATION | ' |
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 periods presented. | |
The accompanying unaudited consolidated 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 annual financial statements prepared in conformity with accounting principles generally accepted in the United States of America. Accordingly, these consolidated financial statements should be read in conjunction with the consolidated audited financial statements and notes thereto for the year ended December 31, 2013. Results of operations for interim periods are not necessarily indicative of results for the full year. |
B_STOCK_OPTION_PLANS
B. STOCK OPTION PLANS | 6 Months Ended |
Jun. 30, 2014 | |
STOCK OPTION PLANS | ' |
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 contract term, 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 quarters ended June 30, 2014 and 2013 was $69,000 and $76,000, respectively. The amount of compensation expense recorded for the six months ended June 30, 2014 and 2013 was $139,000 and $122,000, respectively. There was an income tax benefit recognized from stock options exercised during the quarter and year to date ended June 30, 2014 of $245,000 and $121,000 for the quarter and year to date ended June 30, 2013. | |
The intrinsic value for options exercised during the six months ended June 30, 2014 was $259,000. The intrinsic value for options exercisable as of June 30, 2014 was $2,239,000. The intrinsic value for options exercised during the six months ended June 30, 2013 was $108,000. The intrinsic value of options exercisable at June 30, 2013 was $1,081,000. There were no options granted for the first six months ended June 30, 2014 and 60,785 options granted for the six month period ended June 30, 2013. | |
The amount of total unrecognized compensation expense related to non-vested options at June 30, 2014 was $764,000, and the weighted average period over which it will be amortized is 3.6 years. | |
C_EARNINGS_PER_SHARE_CALCULATI
C. EARNINGS PER SHARE CALCULATION | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
EARNINGS PER SHARE CALCULATION | ' | ||||||||||||||||
EARNINGS PER SHARE CALCULATION | ' | ||||||||||||||||
Earnings per common share (EPS) are 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 (loss) 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. The number of potential common shares included in the quarterly diluted EPS is computed using the average market price during the three months included in the reporting period under the treasury stock method. The number of potential common shares included in year-to-date diluted EPS is a year-to-date weighted average of potential shares included in each quarterly diluted EPS computation. All common stock equivalents are anti-dilutive when a net loss occurs. A 5% stock dividend was declared in the fourth quarter of 2013, and prior per share amounts have been adjusted to reflect the 5% stock dividend. | |||||||||||||||||
Earnings per share have been computed based on the following: | |||||||||||||||||
(All amounts in thousands) | Three months ended | Six months ended | |||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net earnings | $ | 1,629 | $ | 1,379 | $ | 3,463 | $ | 2,309 | |||||||||
Dividends and discount accretion on preferred stock | — | 172 | 170 | 330 | |||||||||||||
Net earnings available to common stockholders | $ | 1,629 | $ | 1,207 | $ | 3,293 | $ | 1,979 | |||||||||
Average number of shares outstanding | 4,029 | 3,915 | 4,007 | 3,908 | |||||||||||||
Effect of dilutive options | 130 | 88 | 135 | 92 | |||||||||||||
Average number of shares outstanding used to calculate diluted earnings per share | 4,159 | 4,003 | 4,142 | 4,000 | |||||||||||||
Anti-dilutive options not included | 62,800 | 204,359 | 246,420 | 230,859 | |||||||||||||
Anti-dilutive options that were excluded from the calculation for the quarter end and year to date were 62,800 and 246,420 in 2014, and 204,359 and 230,859 in 2013, respectively. |
D_SECURITIES_AVAILABLE_FOR_SAL
D. SECURITIES AVAILABLE FOR SALE | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ' | ||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ' | ||||||||||||||||||||||||
The amortized cost and fair values of securities available-for-sale are as follows: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 3,973 | $ | 6 | $ | (31 | ) | $ | 3,948 | ||||||||||||||||
Obligations of U.S. government agencies | 70,482 | 437 | (302 | ) | 70,617 | ||||||||||||||||||||
Mortgage-backed securities | 85,360 | 881 | (1,032 | ) | 85,209 | ||||||||||||||||||||
Obligations of states and political subdivisions | 81,128 | 2,327 | (438 | ) | 83,017 | ||||||||||||||||||||
Corporate debt | 24,744 | 319 | (59 | ) | 25,004 | ||||||||||||||||||||
$ | 265,687 | $ | 3,970 | $ | (1,862 | ) | $ | 267,795 | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 3,069 | $ | 12 | $ | (54 | ) | $ | 3,027 | ||||||||||||||||
Obligations of U.S. government agencies | 73,691 | 488 | (860 | ) | 73,319 | ||||||||||||||||||||
Mortgage-backed securities | 79,873 | 360 | (2,373 | ) | 77,860 | ||||||||||||||||||||
Obligations of states and political subdivisions | 82,526 | 1,467 | (1,317 | ) | 82,676 | ||||||||||||||||||||
Corporate debt | 26,958 | 330 | (182 | ) | 27,106 | ||||||||||||||||||||
$ | 266,117 | $ | 2,657 | $ | (4,786 | ) | $ | 263,988 | |||||||||||||||||
An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of June 30, 2014 and December 31, 2013, respectively, is as 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 | ||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 2,019 | $ | (31 | ) | $ | — | $ | — | $ | 2,019 | $ | (31 | ) | |||||||||||
Obligations of U.S. Government agencies | 7,808 | (10 | ) | 22,153 | (292 | ) | 29,961 | $ | (302 | ) | |||||||||||||||
Mortgage-backed securities | 3,598 | (11 | ) | 39,727 | (1,021 | ) | 43,325 | (1,032 | ) | ||||||||||||||||
Obligations of states and political subdivisions | 7,455 | (65 | ) | 15,746 | (373 | ) | 23,201 | (438 | ) | ||||||||||||||||
Corporate debt | 1,182 | (2 | ) | 6,907 | (57 | ) | 8,089 | (59 | ) | ||||||||||||||||
Total | $ | 22,062 | $ | (119 | ) | $ | 84,533 | $ | (1,743 | ) | $ | 106,595 | $ | (1,862 | ) | ||||||||||
(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 | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 2,002 | $ | (54 | ) | $ | — | $ | — | $ | 2,002 | (54 | ) | ||||||||||||
Obligations of U.S. Government agencies | 40,108 | (860 | ) | — | — | 40,108 | (860 | ) | |||||||||||||||||
Mortgage-backed securities | 51,419 | (2,015 | ) | 5,664 | (358 | ) | 57,083 | (2,373 | ) | ||||||||||||||||
Obligations of states and political subdivisions | 33,265 | (1,248 | ) | 1,083 | (69 | ) | 34,348 | (1,317 | ) | ||||||||||||||||
Corporate debt | 10,857 | (180 | ) | 498 | (2 | ) | 11,355 | (182 | ) | ||||||||||||||||
Total | $ | 137,651 | $ | (4,357 | ) | $ | 7,245 | $ | (429 | ) | $ | 144,896 | $ | (4,786 | ) | ||||||||||
At June 30, 2014, there were sixty eight securities in an unrealized loss position for twelve consecutive months or more. At December 31, 2013, there were five securities in an unrealized loss position for twelve consecutive months or more. 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 changes in interest rates 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 was other-than-temporarily impaired at June 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||
The amortized cost and carrying value of available-for-sale debt securities as of June 30, 2014 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. | |||||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 13,240 | $ | 13,363 | |||||||||||||||||||||
Due after one through five years | 98,770 | 99,508 | |||||||||||||||||||||||
Due after five years through ten years | 115,377 | 116,313 | |||||||||||||||||||||||
Due after ten years | 38,300 | 38,611 | |||||||||||||||||||||||
$ | 265,687 | $ | 267,795 | ||||||||||||||||||||||
For the six months ended June 30, 2014 and June 30, 2013, respectively, gross realized gains amounted to $39,000 and $115,000, on securities sold for $5,067,000 and $8,593,000, respectively. For the six months ended June 30, 2014, there were no gross realized losses. For the six months ended June 30, 2013, there were no gross realized losses. For the three months ended June 30, 2014 and June 30, 2013, respectively, gross realized gains amounted to $28,000 and $73,000 on securities sold for $4,044,000 and $4,871,000 respectively. | |||||||||||||||||||||||||
At June 30, 2014, securities with an amortized cost of $67,492,000 and fair value of $68,273,000 were pledged as collateral for public deposits and for other purposes required by law. |
E_LOANS
E. LOANS | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||||||||
LOANS | ' | ||||||||||||||||||||||||||||
Loans are summarized as follows at June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | FNB | Balance | |||||||||||||||||||||||||||
Bancorp | 30-Jun | ||||||||||||||||||||||||||||
June 30, 2014: | Originated | PNCI | PCI | 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 282,646 | $ | 35,691 | $ | 1,324 | $ | 319,661 | |||||||||||||||||||||
Real estate construction | 37,778 | 1,982 | — | 39,760 | |||||||||||||||||||||||||
Real estate multi-family | 41,821 | 11,678 | — | 53,499 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 108,785 | 6,084 | — | 114,869 | |||||||||||||||||||||||||
Commercial & industrial | 33,307 | 9,238 | — | 42,545 | |||||||||||||||||||||||||
Consumer loans | 1,434 | — | — | 1,434 | |||||||||||||||||||||||||
Gross loans | 505,771 | 64,673 | 1,324 | 571,768 | |||||||||||||||||||||||||
Net deferred loan fees | (477 | ) | — | — | (477 | ) | |||||||||||||||||||||||
Allowance for loan losses | (10,859 | ) | — | (10,859 | ) | ||||||||||||||||||||||||
Net loans | $ | 494,435 | $ | 64,673 | $ | 1,324 | $ | 560,432 | |||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | FNB | Balance | |||||||||||||||||||||||||||
Bancorp | 31-Dec | ||||||||||||||||||||||||||||
31-Dec-13 | Originated | PNCI | PCI | 2013 | |||||||||||||||||||||||||
Commercial real estate | $ | 285,938 | $ | 37,936 | $ | 1,325 | $ | 325,199 | |||||||||||||||||||||
Real estate construction | 31,290 | 3,028 | — | 34,318 | |||||||||||||||||||||||||
Real estate multi-family | 34,357 | 11,786 | — | 46,143 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 98,196 | 8,707 | — | 106,903 | |||||||||||||||||||||||||
Commercial & industrial | 38,287 | 10,217 | — | 48,504 | |||||||||||||||||||||||||
Consumer loans | 1,650 | — | — | 1,650 | |||||||||||||||||||||||||
Gross loans | 489,718 | 71,674 | 1,325 | 562,717 | |||||||||||||||||||||||||
Net deferred loan fees | (495 | ) | — | — | (495 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,869 | ) | (10 | ) | — | (9,879 | ) | ||||||||||||||||||||||
Net loans | $ | 479,354 | $ | 71,664 | $ | 1,325 | $ | 552,343 | |||||||||||||||||||||
Note: PNCI means Purchased, Not Credit Impaired. PCI means Purchased, Credit Impaired. | |||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 1,268 | $ | 5,624 | $ | 735 | $ | 369 | $ | 1,835 | $ | 66 | $ | 9,897 | |||||||||||||||
Charge-offs | — | — | (183 | ) | — | — | (20 | ) | (203 | ) | |||||||||||||||||||
Recoveries | 110 | 1,051 | — | — | 1 | 3 | 1,165 | ||||||||||||||||||||||
Provision | (212 | ) | (460 | ) | 165 | 96 | 414 | (3 | ) | 0 | |||||||||||||||||||
Ending balance | $ | 1,166 | $ | 6,215 | $ | 717 | $ | 465 | $ | 2,250 | $ | 46 | $ | 10,859 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 151 | $ | 128 | $ | — | $ | — | $ | 481 | $ | — | $ | 760 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,015 | $ | 6,087 | $ | 717 | $ | 465 | $ | 1,769 | $ | 46 | $ | 10,099 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 1,237 | $ | 5,763 | $ | 734 | $ | 293 | $ | 1,788 | $ | 64 | $ | 9,879 | |||||||||||||||
Charge-offs | — | — | (183 | ) | — | (62 | ) | (31 | ) | (276 | ) | ||||||||||||||||||
Recoveries | 124 | 1,052 | — | — | 2 | 3 | 1,181 | ||||||||||||||||||||||
Provision | (195 | ) | (600 | ) | 166 | 172 | 522 | 10 | 75 | ||||||||||||||||||||
Ending balance | $ | 1,166 | $ | 6,215 | $ | 717 | $ | 465 | $ | 2,250 | $ | 46 | $ | 10,859 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 151 | $ | 128 | $ | — | $ | — | $ | 481 | $ | — | $ | 760 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,015 | $ | 6,087 | $ | 717 | $ | 465 | $ | 1,769 | $ | 46 | $ | 10,099 | |||||||||||||||
13 | |||||||||||||||||||||||||||||
Recorded Investment in Loans at June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 42,545 | $ | 319,661 | $ | 39,760 | $ | 53,499 | $ | 114,869 | $ | 1,434 | $ | 571,768 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,133 | $ | 9,043 | $ | 2,382 | $ | — | $ | 3,847 | $ | 9 | $ | 19,414 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 38,412 | $ | 310,618 | $ | 37,378 | $ | 53,499 | $ | 111,022 | $ | 1,425 | $ | 552,354 | |||||||||||||||
Recorded Investment in Loans at December 31, 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 | $ | 48,504 | $ | 325,199 | $ | 34,318 | $ | 46,143 | $ | 106,903 | $ | 1,650 | $ | 562,717 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,497 | $ | 17,974 | $ | 189 | $ | 375 | $ | 4,077 | $ | — | $ | 25,112 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 46,007 | $ | 307,225 | $ | 34,129 | $ | 45,768 | $ | 102,826 | $ | 1,650 | $ | 537,605 | |||||||||||||||
14 | |||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real | Real | ||||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Real Estate | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Commercial | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,577 | $ | 4,930 | $ | 653 | $ | 281 | $ | 1,862 | $ | 54 | $ | 9,357 | |||||||||||||||
Charge-offs | — | — | — | — | (125 | ) | — | (125 | ) | ||||||||||||||||||||
Recoveries | — | 2 | — | — | — | 1 | 3 | ||||||||||||||||||||||
Provision | (86 | ) | 379 | 72 | 48 | 91 | 6 | 510 | |||||||||||||||||||||
Ending balance | $ | 1,491 | $ | 5,311 | $ | 725 | $ | 329 | $ | 1,828 | $ | 61 | $ | 9,745 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 254 | $ | 189 | $ | — | $ | — | $ | 237 | $ | 1 | $ | 681 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,237 | $ | 5,122 | $ | 725 | $ | 329 | $ | 1,591 | $ | 60 | $ | 9,064 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Six Months Ended June 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 | $ | 1,875 | $ | 4,812 | $ | 857 | $ | — | $ | 1,516 | $ | 64 | $ | 9,124 | |||||||||||||||
Charge-offs | — | (239 | ) | (81 | ) | — | (244 | ) | (1 | ) | (565 | ) | |||||||||||||||||
Recoveries | 70 | 4 | — | — | 1 | 1 | 76 | ||||||||||||||||||||||
Provision | (454 | ) | 754 | (34 | ) | 329 | 518 | (3 | ) | 1,110 | |||||||||||||||||||
Ending balance | $ | 1,491 | $ | 5,331 | $ | 742 | $ | 329 | $ | 1,791 | $ | 61 | $ | 9,745 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 254 | $ | 210 | $ | 17 | $ | — | $ | 237 | $ | 1 | $ | 719 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,237 | $ | 5,121 | $ | 725 | $ | 329 | $ | 1,554 | $ | 60 | $ | 9,026 | |||||||||||||||
15 | |||||||||||||||||||||||||||||
Recorded Investment in Loans at June 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 | $ | 47,739 | $ | 304,819 | $ | 25,974 | $ | 56,002 | $ | 105,094 | $ | 1,725 | $ | 541,353 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,795 | $ | 19,244 | $ | 591 | $ | 1,192 | $ | 3,395 | $ | 1 | $ | 28,218 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 43,944 | $ | 285,575 | $ | 25,383 | $ | 54,810 | $ | 101,699 | $ | 1,724 | $ | 513,135 | |||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
As of and for the six months ended June 30, 2014 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,796 | $ | 3,858 | $ | — | $ | 2,885 | $ | 127 | |||||||||||||||||||
Commercial real estate construction | 2,382 | 2,565 | — | 1,851 | 71 | ||||||||||||||||||||||||
Commercial real estate | 3,524 | 3,799 | — | 3,510 | 48 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 629 | 629 | — | 632 | 6 | ||||||||||||||||||||||||
Consumer | 9 | 9 | — | 9 | — | ||||||||||||||||||||||||
Total | 9,340 | 10,860 | — | 8,887 | 252 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,337 | $ | 1,740 | $ | 151 | $ | 1,418 | $ | 4 | |||||||||||||||||||
Commercial real estate construction | — | — | — | — | — | ||||||||||||||||||||||||
Commercial real estate | 5,506 | 5,507 | 128 | 5,575 | 134 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 3,218 | 3,365 | 481 | 3,331 | 65 | ||||||||||||||||||||||||
Total | 10,061 | 10,612 | 760 | 10,324 | 203 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,133 | $ | 5,598 | $ | 151 | $ | 4,303 | $ | 131 | |||||||||||||||||||
Commercial real estate construction | 2,382 | 2,565 | — | 1,851 | 71 | ||||||||||||||||||||||||
Commercial real estate | 9,030 | 9,306 | 128 | 9,085 | 182 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,847 | 3,994 | 481 | 3,963 | 71 | ||||||||||||||||||||||||
Consumer | 9 | 9 | — | 9 | — | ||||||||||||||||||||||||
Grand total | $ | 19,401 | $ | 21,472 | $ | 760 | $ | 19,211 | $ | 455 | |||||||||||||||||||
16 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 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 | $ | 1,059 | $ | 1,232 | $ | — | $ | 1,204 | $ | 66 | |||||||||||||||||||
Commercial real estate construction | — | — | — | — | — | ||||||||||||||||||||||||
Commercial real estate | 12,397 | 13,535 | — | 11,445 | 565 | ||||||||||||||||||||||||
Real estate multi family | 375 | 375 | — | 384 | 25 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 1,163 | 1,284 | — | 1,009 | 37 | ||||||||||||||||||||||||
Total | 14,994 | 16,426 | — | 14,042 | 693 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,438 | $ | 1,871 | $ | 166 | $ | 1,710 | $ | 15 | |||||||||||||||||||
Commercial real estate construction | 189 | 196 | 10 | 198 | 18 | ||||||||||||||||||||||||
Commercial real estate | 5,577 | 5,588 | 165 | 4,972 | 254 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 2,914 | 2,923 | 254 | 2,989 | 115 | ||||||||||||||||||||||||
Total | 10,118 | 10,578 | 595 | 9,869 | 402 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,497 | $ | 3,103 | $ | 166 | $ | 2,914 | $ | 81 | |||||||||||||||||||
Commercial real estate construction | 189 | 196 | 10 | 198 | 18 | ||||||||||||||||||||||||
Commercial real estate | 17,974 | 19,123 | 165 | 16,417 | 819 | ||||||||||||||||||||||||
Real estate multi family | 375 | 375 | — | 384 | 25 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 4,077 | 4,207 | 254 | 3,998 | 152 | ||||||||||||||||||||||||
Grand total | $ | 25,112 | $ | 27,004 | $ | 595 | $ | 23,911 | $ | 1,095 | |||||||||||||||||||
Average recorded investment on impaired loans was $20,805,000 for six months ended June 30, 2013; $21,969,000 for 3 months ended June 30, 2014, and $29,399,000 for 3 months ended June 30, 2013. Income recognized on impaired loans was $452,000 for six months ended June 30, 2013; $194,000 for three months ended June 30, 2014, and $394,000 for three months ended June 30, 2013. | |||||||||||||||||||||||||||||
Nonaccrual loans totaled $5,463,000 and $7,351,000 as of June 30, 2014 and December 31, 2013. The majority of the difference between impaired loans and nonaccrual loans represents loans that are restructured and performing under modified loan agreements, and where principal and interest is considered to be collectible. | |||||||||||||||||||||||||||||
Loans on Nonaccrual Status as of | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | 30-Jun | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial & industrial | $ | 1,928 | $ | 2,046 | |||||||||||||||||||||||||
Real estate - construction | — | 189 | |||||||||||||||||||||||||||
Commercial real estate | 2,852 | 4,290 | |||||||||||||||||||||||||||
Real estate - 1 to 4 family | 674 | 826 | |||||||||||||||||||||||||||
Consumer | 9 | — | |||||||||||||||||||||||||||
Total | $ | 5,463 | $ | 7,351 | |||||||||||||||||||||||||
Interest income on impaired loans of $455,000 was recognized for cash payments received during the six months ended June 30, 2014, and $1,095,000 was recognized for cash payments received during the year ended December 31, 2013, respectively. Interest income on impaired loans for cash payments received during the six month period ended June 30, 2013 was $452,000; for the three months ended June 30, 2014 it was $194,000, and for the three months ended June 30, 2013 it was $394,000. The amount of interest on impaired loans not collected for the six months ended June 30, 2014 was $214,000 and for the year ended December 31, 2013 was $656,000. For the six months ended June 30, 2013, it was $388,000; for three months ended June 30, 2014, it was $64,000; for the three months ended June 30, 2013 it was $190,000. The cumulative amount of unpaid interest on impaired loans was $3,644,000 at June 30, 2014, and $3,430,000 at the year ended December 31, 2013. Total outstanding principal of troubled debt restructured loans as of June 30, 2014 was $17,353,000, of which $2,165,000 was commercial and industrial loans, $3,689,000 was residential loans, and $11,499,000 was commercial real estate loans. Total outstanding principal of troubled debt restructured loans at December 31, 2013 was $13,706,000, of which $2,412,000 was commercial loans, $189,000 was real estate construction loans, $2,121,000 was real estate one to four family, and $8,455,000 was commercial real estate loans. | |||||||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||
Total troubled debt restructured loans outstanding at | |||||||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Non- | Non- | ||||||||||||||||||||||||||||
Accrual | accrual | Total | Accrual | accrual | Total | ||||||||||||||||||||||||
status | status | modifications | status | status | modifications | ||||||||||||||||||||||||
Commercial & industrial | $ | 297 | $ | 1,868 | $ | 2,165 | $ | 461 | $ | 1,951 | $ | 2,412 | |||||||||||||||||
Real Estate construction | — | — | — | — | 189 | 189 | |||||||||||||||||||||||
Real estate 1 to 4 family | 3,173 | 516 | 3,689 | 2,121 | 529 | 2,650 | |||||||||||||||||||||||
Commercial real estate | 9,398 | 2,101 | 11,499 | 6,315 | 2,140 | 8,455 | |||||||||||||||||||||||
Total | $ | 12,868 | $ | 4,485 | $ | 17,353 | $ | 8,897 | $ | 4,809 | $ | 13,706 | |||||||||||||||||
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 June 30, 2014, there were no commitments for additional funding of troubled debt restructurings. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the six months ended June 30, 2014 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real estate 1 to 4 family | 1 | 572 | 572 | ||||||||||||||||||||||||||
Commercial real estate | 3 | 1,454 | 1,454 | ||||||||||||||||||||||||||
Total | 4 | 2,026 | $ | 2,026 | |||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the six months ended June 30, 2013 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real Estate Construction | 1 | $ | 196 | $ | 196 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 2 | 739 | 739 | ||||||||||||||||||||||||||
Real estate multi-family | 1 | 544 | 544 | ||||||||||||||||||||||||||
Commercial real estate | 4 | 3,737 | 3,737 | ||||||||||||||||||||||||||
Total | 8 | $ | 5,216 | $ | 5,216 | ||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the three months ended June 30, 2014 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Commercial real estate | 3 | 1,454 | 1,454 | ||||||||||||||||||||||||||
Total | 3 | $ | 1,454 | $ | 1,454 | ||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the three months ended June 30, 2013 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real estate 1 to 4 family | 1 | 440 | 440 | ||||||||||||||||||||||||||
Commercial real estate | 2 | 1,503 | 1,503 | ||||||||||||||||||||||||||
Total | 3 | $ | 1,943 | $ | 1,943 | ||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result 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. | |||||||||||||||||||||||||||||
Real Estate – 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. | |||||||||||||||||||||||||||||
Real Estate-1 to 4 family 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 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 June 30, 2014 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | ||||||||||||||||||||||||||||
Days | Days | Over | Total | ||||||||||||||||||||||||||
Past | Past | 90 | Past | Total | |||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | |||||||||||||||||||||||
Commercial real estate | $ | — | $ | 590 | $ | 727 | $ | 1,317 | $ | 281,329 | $ | 282,646 | |||||||||||||||||
Real estate construction | — | — | — | — | 37,778 | 37,778 | |||||||||||||||||||||||
Real estate multi family | — | — | — | — | 41,821 | 41,821 | |||||||||||||||||||||||
Real estate 1 to 4 family | 88 | — | 159 | 247 | 108,538 | 108,785 | |||||||||||||||||||||||
Commercial and industrial | 33 | — | 1,907 | 1,940 | 31,367 | 33,307 | |||||||||||||||||||||||
Consumer | 9 | — | — | 9 | 1,425 | 1,434 | |||||||||||||||||||||||
Total | $ | 130 | $ | 590 | $ | 2,793 | $ | 3,513 | $ | 502,258 | $ | 505,771 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | — | $ | 35,691 | $ | 35,691 | |||||||||||||||||
Real estate construction | — | — | — | — | 1,982 | 1,982 | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | 11,678 | 11,678 | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 6,084 | 6,084 | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 9,238 | 9,238 | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 64,673 | $ | 64,673 | |||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | — | $ | 1,324 | $ | 1,324 | |||||||||||||||||
Real estate construction | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 1,324 | $ | 1,324 | |||||||||||||||||
At June 30, 2014 there were no loans that were 90 days or more past due where interest was still accruing. | |||||||||||||||||||||||||||||
The over 90 days column includes nonaccruals that were over 90 days, but does not include loans that are in nonaccrual status for reasons other than past due. | |||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | ||||||||||||||||||||||||||||
Days | Days | Over | Total | ||||||||||||||||||||||||||
Past | Past | 90 | Past | Total | |||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | |||||||||||||||||||||||
Commercial real estate | $ | 1,403 | $ | — | $ | 2,349 | $ | 3,752 | $ | 282,186 | $ | 285,938 | |||||||||||||||||
Real estate construction | — | — | — | — | 31,290 | 31,290 | |||||||||||||||||||||||
Real estate multi family | — | — | — | — | 34,357 | 34,357 | |||||||||||||||||||||||
Real estate 1 to 4 family | 161 | 75 | 826 | 1,062 | 97,134 | 98,196 | |||||||||||||||||||||||
Commercial & industrial | 563 | 210 | 2,046 | 2,819 | 35,468 | 38,287 | |||||||||||||||||||||||
Consumer | 116 | 19 | — | 135 | 1,515 | 1,650 | |||||||||||||||||||||||
Total | $ | 2,243 | $ | 304 | $ | 5,221 | $ | 7,768 | $ | 481,950 | $ | 489,718 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 616 | $ | 616 | $ | 37,320 | $ | 37,936 | |||||||||||||||||
Real estate construction | — | — | 189 | 189 | 2,839 | 3,028 | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | 11,786 | 11,786 | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 8,707 | 8,707 | |||||||||||||||||||||||
Commercial & industrial | — | — | — | — | 10,217 | 10,217 | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | 805 | $ | 805 | $ | 70,869 | $ | 71,674 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,325 | $ | 1,325 | $ | — | $ | 1,325 | |||||||||||||||||
Real estate construction | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial & industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,325 | $ | 1,325 | $ | — | $ | 1,325 | |||||||||||||||||
At December 31, 2013 there were no loans that were 90 days or more past due where interest was still accruing. | |||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Pass | mention | standard | Doubtful | loans | |||||||||||||||||||||||||
Commercial real estate | $ | 277,913 | $ | 1,933 | $ | 2,800 | $ | — | $ | 282,646 | |||||||||||||||||||
Real estate construction | 36,709 | — | 1,069 | — | 37,778 | ||||||||||||||||||||||||
Real estate multi-family | 41,821 | — | — | — | 41,821 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 108,110 | — | 529 | 146 | 108,785 | ||||||||||||||||||||||||
Commercial and industrial | 32,302 | — | 988 | 17 | 33,307 | ||||||||||||||||||||||||
Consumer loans | 1,434 | — | — | — | 1,434 | ||||||||||||||||||||||||
Totals | $ | 498,289 | $ | 1,933 | $ | 5,386 | $ | 163 | $ | 505,771 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 29,824 | $ | — | $ | 5,867 | $ | — | $ | 35,691 | |||||||||||||||||||
Real estate construction | 1,982 | — | — | — | 1,982 | ||||||||||||||||||||||||
Real estate multi-family | 11,678 | — | — | — | 11,678 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 5,681 | — | 403 | — | 6,084 | ||||||||||||||||||||||||
Commercial and industrial | 9,238 | — | — | — | 9,238 | ||||||||||||||||||||||||
Total | $ | 58,403 | $ | — | $ | 6,270 | $ | — | $ | 64,673 | |||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,324 | |||||||||||||||||||||||||||
Total | $ | 1,324 | |||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 280,356 | $ | 2,330 | $ | 3,252 | $ | — | $ | 285,938 | |||||||||||||||||||
Real estate construction | 29,673 | 573 | 1,044 | — | 31,290 | ||||||||||||||||||||||||
Real estate multi-family | 34,357 | — | — | — | 34,357 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 97,514 | — | 429 | 253 | 98,196 | ||||||||||||||||||||||||
Commercial & industrial | 36,837 | — | 1,439 | 11 | 38,287 | ||||||||||||||||||||||||
Consumer loans | 1,631 | — | 19 | — | 1,650 | ||||||||||||||||||||||||
Totals | $ | 480,368 | $ | 2,903 | $ | 6,183 | $ | 264 | $ | 489,718 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 28,342 | $ | 4,951 | $ | 4,643 | $ | — | $ | 37,936 | |||||||||||||||||||
Real estate construction | 1,520 | — | 1,508 | — | 3,028 | ||||||||||||||||||||||||
Real estate multi-family | 11,786 | — | — | — | 11,786 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 8,299 | — | 408 | — | 8,707 | ||||||||||||||||||||||||
Commercial & industrial | 10,217 | — | — | — | 10,217 | ||||||||||||||||||||||||
Total | $ | 60,164 | $ | 4,951 | $ | 6,559 | $ | — | $ | 71,674 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,325 | |||||||||||||||||||||||||||
Total | $ | 1,325 |
F_BORROWINGS
F. BORROWINGS | 6 Months Ended |
Jun. 30, 2014 | |
BORROWINGS | ' |
BORROWINGS | ' |
Federal home Loan Bank advances | |
There is an overnight advance dated June 30, 2014 in the amount of $7,000,000 at 0.18% which matured on July 1, 2014 and was paid off. | |
Corporate loan | |
On March 27, 2014, FNB Bancorp received funding under a $6,000,000 term loan credit facility. This loan carries a variable rate of interest that fluctuates on a monthly basis. The interest rate is based on the 3 month LIBOR rate plus 4%. Payments of $50,000 in principal plus accrued interest are payable monthly. The first loan payment was due May 1st, 2014. The maturity date on this credit facility is March 26, 2019. On the maturity date, all outstanding principal plus accrued interest shall become due and payable. FNB Bancorp has pledged its stock ownership in First National Bank of Northern California as collateral subject to the terms and conditions contained in the Loan Agreement and the Pledge and Security Agreement. FNB Bancorp retains the right to prepay this debt at any time upon not less than 7 days’ prior written notice to Lender. The proceeds from this loan were contributed to the Bank as an additional capital contribution. This capital contribution qualified as Tier 1 capital for the Bank under regulatory capital guidelines. |
G_FAIR_VALUE_MEASUREMENT
G. FAIR VALUE MEASUREMENT | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
FAIR VALUE MEASUREMENT TABLES | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENT | ' | ||||||||||||||||||||
The following table presents information about the Company’s assets and liabilities measured at fair value as of June 30, 2014 and December 31, 2013, and indicates 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 tables present the recorded amounts of assets measured at fair value on a recurring basis: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at June 30, 2014, Using | ||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | |||||||||||||||||||||
Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 6/30/14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
U. S. Treasury securities | $ | 3,948 | $ | 3,948 | $ | — | $ | — | |||||||||||||
Obligations of U.S. Government agencies | 70,617 | — | 70,617 | — | |||||||||||||||||
Mortgage-backed securities | 85,209 | — | 85,209 | — | |||||||||||||||||
Obligations of states and political subdivisions | 83,017 | — | 83,017 | — | |||||||||||||||||
Corporate debt | 25,004 | — | 25,004 | — | |||||||||||||||||
Total assets measured at fair value | $ | 267,795 | $ | 3,948 | $ | 263,847 | $ | — | |||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at December 31, 2013, Using | ||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | |||||||||||||||||||||
Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
U. S. Treasury securities | $ | 3,027 | $ | 3,027 | $ | — | $ | — | |||||||||||||
Obligations of U.S. Government agencies | 73,319 | — | 73,319 | — | |||||||||||||||||
Mortgage-backed securities | 77,860 | — | 77,860 | — | |||||||||||||||||
Obligations of states and political subdivisions | 82,676 | — | 82,676 | — | |||||||||||||||||
Corporate debt | 27,106 | — | 27,106 | — | |||||||||||||||||
Total assets measured at fair value | $ | 263,988 | $ | 3,027 | $ | 260,961 | $ | — | |||||||||||||
The following tables present the recorded amounts of assets measured at fair value on a non-recurring basis: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at June 30, 2014, Using | ||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 6/30/14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | $ | 1,110 | $ | — | $ | — | $ | 1,110 | |||||||||||||
Residential- 1 to 4 family | 64 | — | — | 64 | |||||||||||||||||
Commercial real estate | 373 | — | — | 373 | |||||||||||||||||
Total impaired assets measured at fair value | $ | 1,547 | $ | — | $ | — | $ | 1,547 | |||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at December 31, 2013, Using | ||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Impaired loans:: | |||||||||||||||||||||
Commercial and industrial | $ | 1,908 | $ | — | $ | — | $ | 1,908 | |||||||||||||
Residential- 1 to 4 family | 411 | — | — | 411 | |||||||||||||||||
Commercial real estate | 2,491 | — | — | 2,491 | |||||||||||||||||
Other real estate owned | 1,771 | — | — | 1,771 | |||||||||||||||||
Total impaired assets measured at fair value | $ | 6,581 | $ | — | $ | — | $ | 6,581 | |||||||||||||
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 a non-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 less costs to sell. An appraisal (a Level 3 valuation) is obtained at the time the Bank 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. When the appraisals are received, Management reviews the assumptions and methodology utilized in the appraisal, as well as the overall resulting value in conjunction with independent data sources such as recent market data and industry-wide statistics. We generally use a 6% discount for selling costs which is applied to all properties, regardless of size. 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. The value of OREO is determined based on independent appraisals, similar to the process used for impaired loans, discussed above, and is generally classified as Level 3. | |||||||||||||||||||||
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 including Interest Bearing Time Deposits with Financial Institutions. | |||||||||||||||||||||
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. | |||||||||||||||||||||
Other equity securities. | |||||||||||||||||||||
These are mostly Federal Reserve Bank stock and Federal Home Loan Bank stock, carried in Other Assets. They are not traded, and not available for sale, and have no fair market value. | |||||||||||||||||||||
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 on similar products. | |||||||||||||||||||||
Notes payable. | |||||||||||||||||||||
Fair value is equal to the current balance. They represent a corporate loan with a monthly variable rate, based on the 3-month LIBOR rate plus 4%. | |||||||||||||||||||||
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 June 30, 2014: | |||||||||||||||||||||
30-Jun-14 | Carrying | Fair | Fair value measurements | ||||||||||||||||||
(Dollar amounts in thousands) | amount | value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 21,682 | $ | 21,682 | $ | 21,682 | |||||||||||||||
Interest-bearing time deposits with financial institutions | 4,461 | 4,461 | 4,461 | ||||||||||||||||||
Securities available for sale | 267,795 | 267,795 | 3,948 | 263,847 | |||||||||||||||||
Loans | 571,291 | 583,474 | 583,474 | ||||||||||||||||||
Other equity securities | 5,576 | 5,576 | 5,576 | ||||||||||||||||||
Accrued interest receivable | 3,674 | 3,674 | 3,674 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 790,222 | 790,222 | 790,222 | ||||||||||||||||||
Federal Home Loan Bank advances | 7,000 | 7,000 | 7,000 | ||||||||||||||||||
Note payable | 5,850 | 5,850 | 5,850 | ||||||||||||||||||
Accrued interest payable | 239 | 239 | 239 | ||||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,391 | 1,391 | ||||||||||||||||||
The carrying amount of loans include $5,463,000 of nonaccrual loans (loans that are not accruing interest) as of June 30, 2014. 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, 2013: | |||||||||||||||||||||
31-Dec-13 | Carrying | Fair | Fair value measurements | ||||||||||||||||||
(Dollar amounts in thousands) | amount | value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 14,007 | $ | 14,007 | $ | 14,007 | |||||||||||||||
Interest-bearing time deposits with financial institutions | 5,543 | 5,543 | 5,543 | ||||||||||||||||||
Securities available for sale | 263,988 | 263,988 | 3,027 | 260,961 | |||||||||||||||||
Loans | 562,717 | 563,325 | 563,325 | ||||||||||||||||||
Other equity securities | 5,300 | 5,300 | 5,300 | ||||||||||||||||||
Accrued interest receivable | 3,808 | 3,808 | 3,808 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 773,615 | 774,012 | 774,012 | ||||||||||||||||||
Federal Home Loan Bank advances | 15,000 | 15,000 | 15,000 | ||||||||||||||||||
Accrued interest payable | 224 | 224 | 224 | ||||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,297 | 1,297 | ||||||||||||||||||
The carrying amount of loans include $7,351,000 of nonaccrual loans (loans that are not accruing interest) as of December 31, 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. |
H_PREFERRED_STOCK
H. PREFERRED STOCK | 6 Months Ended |
Jun. 30, 2014 | |
PREFERRED STOCK | ' |
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 was 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. Effective January 1, 2014, the effective dividend rate increased from 5% to 9%. | |
On May 6, 2013, 25% or $3,150,000 of the original $12,600,000 was redeemed. On January 24, 2014, FNB Bancorp (the “Company”) redeemed all the remaining outstanding preferred shares that had been issued to the United States Treasury Department through the Small Business Lending Fund (“SBLF”) in a cash redemption transaction. Subsequent to this redemption, the United States Treasury Department no longer has any equity interest in the Company of any kind. |
C_EARNINGS_PER_SHARE_CALCULATI1
C. EARNINGS PER SHARE CALCULATION (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings per share computed | ' | ||||||||||||||||
Earnings per common share (EPS) computed | ' | ||||||||||||||||
(All amounts in thousands) | Three months ended | Six months ended | |||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Net earnings | $ | 1,629 | $ | 1,379 | $ | 3,463 | $ | 2,309 | |||||||||
Dividends and discount accretion on preferred stock | — | 172 | 170 | 330 | |||||||||||||
Net earnings available to common stockholders | $ | 1,629 | $ | 1,207 | $ | 3,293 | $ | 1,979 | |||||||||
Average number of shares outstanding | 4,029 | 3,915 | 4,007 | 3,908 | |||||||||||||
Effect of dilutive options | 130 | 88 | 135 | 92 | |||||||||||||
Average number of shares outstanding used to calculate diluted earnings per share | 4,159 | 4,003 | 4,142 | 4,000 | |||||||||||||
Anti-dilutive options not included | 62,800 | 204,359 | 246,420 | 230,859 |
D_SECURITIES_AVAILABLE_FOR_SAL1
D. SECURITIES AVAILABLE FOR SALE (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE TABLES | ' | ||||||||||||||||||||||||
Schedule of amortized cost and carrying values of securities available-for-sale | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
cost | gains | losses | value | ||||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 3,973 | $ | 6 | $ | (31 | ) | $ | 3,948 | ||||||||||||||||
Obligations of U.S. government agencies | 70,482 | 437 | (302 | ) | 70,617 | ||||||||||||||||||||
Mortgage-backed securities | 85,360 | 881 | (1,032 | ) | 85,209 | ||||||||||||||||||||
Obligations of states and political subdivisions | 81,128 | 2,327 | (438 | ) | 83,017 | ||||||||||||||||||||
Corporate debt | 24,744 | 319 | (59 | ) | 25,004 | ||||||||||||||||||||
$ | 265,687 | $ | 3,970 | $ | (1,862 | ) | $ | 267,795 | |||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 3,069 | $ | 12 | $ | (54 | ) | $ | 3,027 | ||||||||||||||||
Obligations of U.S. government agencies | 73,691 | 488 | (860 | ) | 73,319 | ||||||||||||||||||||
Mortgage-backed securities | 79,873 | 360 | (2,373 | ) | 77,860 | ||||||||||||||||||||
Obligations of states and political subdivisions | 82,526 | 1,467 | (1,317 | ) | 82,676 | ||||||||||||||||||||
Corporate debt | 26,958 | 330 | (182 | ) | 27,106 | ||||||||||||||||||||
$ | 266,117 | $ | 2,657 | $ | (4,786 | ) | $ | 263,988 | |||||||||||||||||
Schedule 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 | ||||||||||||||||||||
June 30, 2014: | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 2,019 | $ | (31 | ) | $ | — | $ | — | $ | 2,019 | $ | (31 | ) | |||||||||||
Obligations of U.S. Government agencies | 7,808 | (10 | ) | 22,153 | (292 | ) | 29,961 | $ | (302 | ) | |||||||||||||||
Mortgage-backed securities | 3,598 | (11 | ) | 39,727 | (1,021 | ) | 43,325 | (1,032 | ) | ||||||||||||||||
Obligations of states and political subdivisions | 7,455 | (65 | ) | 15,746 | (373 | ) | 23,201 | (438 | ) | ||||||||||||||||
Corporate debt | 1,182 | (2 | ) | 6,907 | (57 | ) | 8,089 | (59 | ) | ||||||||||||||||
Total | $ | 22,062 | $ | (119 | ) | $ | 84,533 | $ | (1,743 | ) | $ | 106,595 | $ | (1,862 | ) | ||||||||||
(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 | ||||||||||||||||||||
December 31, 2013: | |||||||||||||||||||||||||
U. S. Treasury securities | $ | 2,002 | $ | (54 | ) | $ | — | $ | — | $ | 2,002 | (54 | ) | ||||||||||||
Obligations of U.S. Government agencies | 40,108 | (860 | ) | — | — | 40,108 | (860 | ) | |||||||||||||||||
Mortgage-backed securities | 51,419 | (2,015 | ) | 5,664 | (358 | ) | 57,083 | (2,373 | ) | ||||||||||||||||
Obligations of states and political subdivisions | 33,265 | (1,248 | ) | 1,083 | (69 | ) | 34,348 | (1,317 | ) | ||||||||||||||||
Corporate debt | 10,857 | (180 | ) | 498 | (2 | ) | 11,355 | (182 | ) | ||||||||||||||||
Total | $ | 137,651 | $ | (4,357 | ) | $ | 7,245 | $ | (429 | ) | $ | 144,896 | $ | (4,786 | ) | ||||||||||
Schedule of amortized cost and carrying value of available-for-sale debt securities by contractual maturity | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Amortized | Fair | |||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 13,240 | $ | 13,363 | |||||||||||||||||||||
Due after one through five years | 98,770 | 99,508 | |||||||||||||||||||||||
Due after five years through ten years | 115,377 | 116,313 | |||||||||||||||||||||||
Due after ten years | 38,300 | 38,611 | |||||||||||||||||||||||
$ | 265,687 | $ | 267,795 |
E_LOANS_Tables
E. LOANS (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||
LOANS TABLES | ' | ||||||||||||||||||||||||||||
Schedule Of Loans Outstanding | ' | ||||||||||||||||||||||||||||
Loans are summarized as follows at June 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | FNB | Balance | |||||||||||||||||||||||||||
Bancorp | 30-Jun | ||||||||||||||||||||||||||||
June 30, 2014: | Originated | PNCI | PCI | 2014 | |||||||||||||||||||||||||
Commercial real estate | $ | 282,646 | $ | 35,691 | $ | 1,324 | $ | 319,661 | |||||||||||||||||||||
Real estate construction | 37,778 | 1,982 | — | 39,760 | |||||||||||||||||||||||||
Real estate multi-family | 41,821 | 11,678 | — | 53,499 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 108,785 | 6,084 | — | 114,869 | |||||||||||||||||||||||||
Commercial & industrial | 33,307 | 9,238 | — | 42,545 | |||||||||||||||||||||||||
Consumer loans | 1,434 | — | — | 1,434 | |||||||||||||||||||||||||
Gross loans | 505,771 | 64,673 | 1,324 | 571,768 | |||||||||||||||||||||||||
Net deferred loan fees | (477 | ) | — | — | (477 | ) | |||||||||||||||||||||||
Allowance for loan losses | (10,859 | ) | — | (10,859 | ) | ||||||||||||||||||||||||
Net loans | $ | 494,435 | $ | 64,673 | $ | 1,324 | $ | 560,432 | |||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | FNB | Balance | |||||||||||||||||||||||||||
Bancorp | 31-Dec | ||||||||||||||||||||||||||||
31-Dec-13 | Originated | PNCI | PCI | 2013 | |||||||||||||||||||||||||
Commercial real estate | $ | 285,938 | $ | 37,936 | $ | 1,325 | $ | 325,199 | |||||||||||||||||||||
Real estate construction | 31,290 | 3,028 | — | 34,318 | |||||||||||||||||||||||||
Real estate multi-family | 34,357 | 11,786 | — | 46,143 | |||||||||||||||||||||||||
Real estate 1 to 4 family | 98,196 | 8,707 | — | 106,903 | |||||||||||||||||||||||||
Commercial & industrial | 38,287 | 10,217 | — | 48,504 | |||||||||||||||||||||||||
Consumer loans | 1,650 | — | — | 1,650 | |||||||||||||||||||||||||
Gross loans | 489,718 | 71,674 | 1,325 | 562,717 | |||||||||||||||||||||||||
Net deferred loan fees | (495 | ) | — | — | (495 | ) | |||||||||||||||||||||||
Allowance for loan losses | (9,869 | ) | (10 | ) | — | (9,879 | ) | ||||||||||||||||||||||
Net loans | $ | 479,354 | $ | 71,664 | $ | 1,325 | $ | 552,343 | |||||||||||||||||||||
Schedule of Allowance for Credit Losses | ' | ||||||||||||||||||||||||||||
Note: PNCI means Purchased, Not Credit Impaired. PCI means Purchased, Credit Impaired. | |||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 1,268 | $ | 5,624 | $ | 735 | $ | 369 | $ | 1,835 | $ | 66 | $ | 9,897 | |||||||||||||||
Charge-offs | — | — | (183 | ) | — | — | (20 | ) | (203 | ) | |||||||||||||||||||
Recoveries | 110 | 1,051 | — | — | 1 | 3 | 1,165 | ||||||||||||||||||||||
Provision | (212 | ) | (460 | ) | 165 | 96 | 414 | (3 | ) | 0 | |||||||||||||||||||
Ending balance | $ | 1,166 | $ | 6,215 | $ | 717 | $ | 465 | $ | 2,250 | $ | 46 | $ | 10,859 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 151 | $ | 128 | $ | — | $ | — | $ | 481 | $ | — | $ | 760 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,015 | $ | 6,087 | $ | 717 | $ | 465 | $ | 1,769 | $ | 46 | $ | 10,099 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 1,237 | $ | 5,763 | $ | 734 | $ | 293 | $ | 1,788 | $ | 64 | $ | 9,879 | |||||||||||||||
Charge-offs | — | — | (183 | ) | — | (62 | ) | (31 | ) | (276 | ) | ||||||||||||||||||
Recoveries | 124 | 1,052 | — | — | 2 | 3 | 1,181 | ||||||||||||||||||||||
Provision | (195 | ) | (600 | ) | 166 | 172 | 522 | 10 | 75 | ||||||||||||||||||||
Ending balance | $ | 1,166 | $ | 6,215 | $ | 717 | $ | 465 | $ | 2,250 | $ | 46 | $ | 10,859 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 151 | $ | 128 | $ | — | $ | — | $ | 481 | $ | — | $ | 760 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,015 | $ | 6,087 | $ | 717 | $ | 465 | $ | 1,769 | $ | 46 | $ | 10,099 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Three Months Ended June 30, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real | Real | ||||||||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||||||||
Commercial | Real Estate | Real Estate | Multi | 1 to | |||||||||||||||||||||||||
& industrial | Commercial | Construction | family | 4 family | Consumer | Total | |||||||||||||||||||||||
Allowance for credit losses | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,577 | $ | 4,930 | $ | 653 | $ | 281 | $ | 1,862 | $ | 54 | $ | 9,357 | |||||||||||||||
Charge-offs | — | — | — | — | (125 | ) | — | (125 | ) | ||||||||||||||||||||
Recoveries | — | 2 | — | — | — | 1 | 3 | ||||||||||||||||||||||
Provision | (86 | ) | 379 | 72 | 48 | 91 | 6 | 510 | |||||||||||||||||||||
Ending balance | $ | 1,491 | $ | 5,311 | $ | 725 | $ | 329 | $ | 1,828 | $ | 61 | $ | 9,745 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 254 | $ | 189 | $ | — | $ | — | $ | 237 | $ | 1 | $ | 681 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,237 | $ | 5,122 | $ | 725 | $ | 329 | $ | 1,591 | $ | 60 | $ | 9,064 | |||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
For the Six Months Ended June 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 | $ | 1,875 | $ | 4,812 | $ | 857 | $ | — | $ | 1,516 | $ | 64 | $ | 9,124 | |||||||||||||||
Charge-offs | — | (239 | ) | (81 | ) | — | (244 | ) | (1 | ) | (565 | ) | |||||||||||||||||
Recoveries | 70 | 4 | — | — | 1 | 1 | 76 | ||||||||||||||||||||||
Provision | (454 | ) | 754 | (34 | ) | 329 | 518 | (3 | ) | 1,110 | |||||||||||||||||||
Ending balance | $ | 1,491 | $ | 5,331 | $ | 742 | $ | 329 | $ | 1,791 | $ | 61 | $ | 9,745 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 254 | $ | 210 | $ | 17 | $ | — | $ | 237 | $ | 1 | $ | 719 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,237 | $ | 5,121 | $ | 725 | $ | 329 | $ | 1,554 | $ | 60 | $ | 9,026 | |||||||||||||||
Schedule of Recorded Investment in Loans | ' | ||||||||||||||||||||||||||||
Recorded Investment in Loans at June 30, 2014 | |||||||||||||||||||||||||||||
(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 | $ | 42,545 | $ | 319,661 | $ | 39,760 | $ | 53,499 | $ | 114,869 | $ | 1,434 | $ | 571,768 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 4,133 | $ | 9,043 | $ | 2,382 | $ | — | $ | 3,847 | $ | 9 | $ | 19,414 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 38,412 | $ | 310,618 | $ | 37,378 | $ | 53,499 | $ | 111,022 | $ | 1,425 | $ | 552,354 | |||||||||||||||
Recorded Investment in Loans at December 31, 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 | $ | 48,504 | $ | 325,199 | $ | 34,318 | $ | 46,143 | $ | 106,903 | $ | 1,650 | $ | 562,717 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,497 | $ | 17,974 | $ | 189 | $ | 375 | $ | 4,077 | $ | — | $ | 25,112 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 46,007 | $ | 307,225 | $ | 34,129 | $ | 45,768 | $ | 102,826 | $ | 1,650 | $ | 537,605 | |||||||||||||||
Recorded Investment in Loans at June 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 | $ | 47,739 | $ | 304,819 | $ | 25,974 | $ | 56,002 | $ | 105,094 | $ | 1,725 | $ | 541,353 | |||||||||||||||
Ending balance: individually evaluated for impairment | $ | 3,795 | $ | 19,244 | $ | 591 | $ | 1,192 | $ | 3,395 | $ | 1 | $ | 28,218 | |||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 43,944 | $ | 285,575 | $ | 25,383 | $ | 54,810 | $ | 101,699 | $ | 1,724 | $ | 513,135 | |||||||||||||||
Schedule of Impaired Loans Allowance | ' | ||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
As of and for the six months ended June 30, 2014 | |||||||||||||||||||||||||||||
Unpaid | Average | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Recorded | Principal | Related | Recorded | Income | ||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | |||||||||||||||||||||||||
With no related allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,796 | $ | 3,858 | $ | — | $ | 2,885 | $ | 127 | |||||||||||||||||||
Commercial real estate construction | 2,382 | 2,565 | — | 1,851 | 71 | ||||||||||||||||||||||||
Commercial real estate | 3,524 | 3,799 | — | 3,510 | 48 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 629 | 629 | — | 632 | 6 | ||||||||||||||||||||||||
Consumer | 9 | 9 | — | 9 | — | ||||||||||||||||||||||||
Total | 9,340 | 10,860 | — | 8,887 | 252 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,337 | $ | 1,740 | $ | 151 | $ | 1,418 | $ | 4 | |||||||||||||||||||
Commercial real estate construction | — | — | — | — | — | ||||||||||||||||||||||||
Commercial real estate | 5,506 | 5,507 | 128 | 5,575 | 134 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 3,218 | 3,365 | 481 | 3,331 | 65 | ||||||||||||||||||||||||
Total | 10,061 | 10,612 | 760 | 10,324 | 203 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,133 | $ | 5,598 | $ | 151 | $ | 4,303 | $ | 131 | |||||||||||||||||||
Commercial real estate construction | 2,382 | 2,565 | — | 1,851 | 71 | ||||||||||||||||||||||||
Commercial real estate | 9,030 | 9,306 | 128 | 9,085 | 182 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 3,847 | 3,994 | 481 | 3,963 | 71 | ||||||||||||||||||||||||
Consumer | 9 | 9 | — | 9 | — | ||||||||||||||||||||||||
Grand total | $ | 19,401 | $ | 21,472 | $ | 760 | $ | 19,211 | $ | 455 | |||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
As of and for the year ended December 31, 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 | $ | 1,059 | $ | 1,232 | $ | — | $ | 1,204 | $ | 66 | |||||||||||||||||||
Commercial real estate construction | — | — | — | — | — | ||||||||||||||||||||||||
Commercial real estate | 12,397 | 13,535 | — | 11,445 | 565 | ||||||||||||||||||||||||
Real estate multi family | 375 | 375 | — | 384 | 25 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 1,163 | 1,284 | — | 1,009 | 37 | ||||||||||||||||||||||||
Total | 14,994 | 16,426 | — | 14,042 | 693 | ||||||||||||||||||||||||
With an allowance recorded | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,438 | $ | 1,871 | $ | 166 | $ | 1,710 | $ | 15 | |||||||||||||||||||
Commercial real estate construction | 189 | 196 | 10 | 198 | 18 | ||||||||||||||||||||||||
Commercial real estate | 5,577 | 5,588 | 165 | 4,972 | 254 | ||||||||||||||||||||||||
Residential- 1 to 4 family | 2,914 | 2,923 | 254 | 2,989 | 115 | ||||||||||||||||||||||||
Total | 10,118 | 10,578 | 595 | 9,869 | 402 | ||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,497 | $ | 3,103 | $ | 166 | $ | 2,914 | $ | 81 | |||||||||||||||||||
Commercial real estate construction | 189 | 196 | 10 | 198 | 18 | ||||||||||||||||||||||||
Commercial real estate | 17,974 | 19,123 | 165 | 16,417 | 819 | ||||||||||||||||||||||||
Real estate multi family | 375 | 375 | — | 384 | 25 | ||||||||||||||||||||||||
Residential - 1 to 4 family | 4,077 | 4,207 | 254 | 3,998 | 152 | ||||||||||||||||||||||||
Grand total | $ | 25,112 | $ | 27,004 | $ | 595 | $ | 23,911 | $ | 1,095 | |||||||||||||||||||
Schedule of Loans On Nonaccrual Status | ' | ||||||||||||||||||||||||||||
Loans on Nonaccrual Status as of | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | 30-Jun | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial & industrial | $ | 1,928 | $ | 2,046 | |||||||||||||||||||||||||
Real estate - construction | — | 189 | |||||||||||||||||||||||||||
Commercial real estate | 2,852 | 4,290 | |||||||||||||||||||||||||||
Real estate - 1 to 4 family | 674 | 826 | |||||||||||||||||||||||||||
Consumer | 9 | — | |||||||||||||||||||||||||||
Total | $ | 5,463 | $ | 7,351 | |||||||||||||||||||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
Total troubled debt restructured loans outstanding at | |||||||||||||||||||||||||||||
(dollars in thousands) | 30-Jun-14 | 31-Dec-13 | |||||||||||||||||||||||||||
Non- | Non- | ||||||||||||||||||||||||||||
Accrual | accrual | Total | Accrual | accrual | Total | ||||||||||||||||||||||||
status | status | modifications | status | status | modifications | ||||||||||||||||||||||||
Commercial & industrial | $ | 297 | $ | 1,868 | $ | 2,165 | $ | 461 | $ | 1,951 | $ | 2,412 | |||||||||||||||||
Real Estate construction | — | — | — | — | 189 | 189 | |||||||||||||||||||||||
Real estate 1 to 4 family | 3,173 | 516 | 3,689 | 2,121 | 529 | 2,650 | |||||||||||||||||||||||
Commercial real estate | 9,398 | 2,101 | 11,499 | 6,315 | 2,140 | 8,455 | |||||||||||||||||||||||
Total | $ | 12,868 | $ | 4,485 | $ | 17,353 | $ | 8,897 | $ | 4,809 | $ | 13,706 | |||||||||||||||||
Schedule of Short-term Debt Modifications | ' | ||||||||||||||||||||||||||||
As of June 30, 2014, there were no commitments for additional funding of troubled debt restructurings. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the six months ended June 30, 2014 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real estate 1 to 4 family | 1 | 572 | 572 | ||||||||||||||||||||||||||
Commercial real estate | 3 | 1,454 | 1,454 | ||||||||||||||||||||||||||
Total | 4 | 2,026 | $ | 2,026 | |||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the six months ended June 30, 2013 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real Estate Construction | 1 | $ | 196 | $ | 196 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 2 | 739 | 739 | ||||||||||||||||||||||||||
Real estate multi-family | 1 | 544 | 544 | ||||||||||||||||||||||||||
Commercial real estate | 4 | 3,737 | 3,737 | ||||||||||||||||||||||||||
Total | 8 | $ | 5,216 | $ | 5,216 | ||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the three months ended June 30, 2014 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Commercial real estate | 3 | 1,454 | 1,454 | ||||||||||||||||||||||||||
Total | 3 | $ | 1,454 | $ | 1,454 | ||||||||||||||||||||||||
As of June 30, 2014, no loans defaulted within twelve months following the date of restructure. All restructurings were a modification of interest rate and as a result payment. There were no principal reductions granted. | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the three months ended June 30, 2013 | |||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||||||
Number of | Recorded | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | Investment | |||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Real estate 1 to 4 family | 1 | 440 | 440 | ||||||||||||||||||||||||||
Commercial real estate | 2 | 1,503 | 1,503 | ||||||||||||||||||||||||||
Total | 3 | $ | 1,943 | $ | 1,943 | ||||||||||||||||||||||||
Schedule Age Analysis Of Past Due Loans | ' | ||||||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | ||||||||||||||||||||||||||||
Days | Days | Over | Total | ||||||||||||||||||||||||||
Past | Past | 90 | Past | Total | |||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | |||||||||||||||||||||||
Commercial real estate | $ | — | $ | 590 | $ | 727 | $ | 1,317 | $ | 281,329 | $ | 282,646 | |||||||||||||||||
Real estate construction | — | — | — | — | 37,778 | 37,778 | |||||||||||||||||||||||
Real estate multi family | — | — | — | — | 41,821 | 41,821 | |||||||||||||||||||||||
Real estate 1 to 4 family | 88 | — | 159 | 247 | 108,538 | 108,785 | |||||||||||||||||||||||
Commercial and industrial | 33 | — | 1,907 | 1,940 | 31,367 | 33,307 | |||||||||||||||||||||||
Consumer | 9 | — | — | 9 | 1,425 | 1,434 | |||||||||||||||||||||||
Total | $ | 130 | $ | 590 | $ | 2,793 | $ | 3,513 | $ | 502,258 | $ | 505,771 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | — | $ | 35,691 | $ | 35,691 | |||||||||||||||||
Real estate construction | — | — | — | — | 1,982 | 1,982 | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | 11,678 | 11,678 | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 6,084 | 6,084 | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | 9,238 | 9,238 | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 64,673 | $ | 64,673 | |||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | — | $ | 1,324 | $ | 1,324 | |||||||||||||||||
Real estate construction | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial and industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer | — | — | — | — | — | — | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | — | $ | — | $ | 1,324 | $ | 1,324 | |||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
30-59 | 60-89 | ||||||||||||||||||||||||||||
Days | Days | Over | Total | ||||||||||||||||||||||||||
Past | Past | 90 | Past | Total | |||||||||||||||||||||||||
Originated | Due | Due | Days | Due | Current | Loans | |||||||||||||||||||||||
Commercial real estate | $ | 1,403 | $ | — | $ | 2,349 | $ | 3,752 | $ | 282,186 | $ | 285,938 | |||||||||||||||||
Real estate construction | — | — | — | — | 31,290 | 31,290 | |||||||||||||||||||||||
Real estate multi family | — | — | — | — | 34,357 | 34,357 | |||||||||||||||||||||||
Real estate 1 to 4 family | 161 | 75 | 826 | 1,062 | 97,134 | 98,196 | |||||||||||||||||||||||
Commercial & industrial | 563 | 210 | 2,046 | 2,819 | 35,468 | 38,287 | |||||||||||||||||||||||
Consumer | 116 | 19 | — | 135 | 1,515 | 1,650 | |||||||||||||||||||||||
Total | $ | 2,243 | $ | 304 | $ | 5,221 | $ | 7,768 | $ | 481,950 | $ | 489,718 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 616 | $ | 616 | $ | 37,320 | $ | 37,936 | |||||||||||||||||
Real estate construction | — | — | 189 | 189 | 2,839 | 3,028 | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | 11,786 | 11,786 | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | 8,707 | 8,707 | |||||||||||||||||||||||
Commercial & industrial | — | — | — | — | 10,217 | 10,217 | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | 805 | $ | 805 | $ | 70,869 | $ | 71,674 | |||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | 1,325 | $ | 1,325 | $ | — | $ | 1,325 | |||||||||||||||||
Real estate construction | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate multi-family | — | — | — | — | — | — | |||||||||||||||||||||||
Real estate 1 to 4 family | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial & industrial | — | — | — | — | — | — | |||||||||||||||||||||||
Total | $ | — | $ | — | $ | 1,325 | $ | 1,325 | $ | — | $ | 1,325 | |||||||||||||||||
Schedule Credit Quality Indicators | ' | ||||||||||||||||||||||||||||
At December 31, 2013 there were no loans that were 90 days or more past due where interest was still accruing. | |||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Pass | mention | standard | Doubtful | loans | |||||||||||||||||||||||||
Commercial real estate | $ | 277,913 | $ | 1,933 | $ | 2,800 | $ | — | $ | 282,646 | |||||||||||||||||||
Real estate construction | 36,709 | — | 1,069 | — | 37,778 | ||||||||||||||||||||||||
Real estate multi-family | 41,821 | — | — | — | 41,821 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 108,110 | — | 529 | 146 | 108,785 | ||||||||||||||||||||||||
Commercial and industrial | 32,302 | — | 988 | 17 | 33,307 | ||||||||||||||||||||||||
Consumer loans | 1,434 | — | — | — | 1,434 | ||||||||||||||||||||||||
Totals | $ | 498,289 | $ | 1,933 | $ | 5,386 | $ | 163 | $ | 505,771 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 29,824 | $ | — | $ | 5,867 | $ | — | $ | 35,691 | |||||||||||||||||||
Real estate construction | 1,982 | — | — | — | 1,982 | ||||||||||||||||||||||||
Real estate multi-family | 11,678 | — | — | — | 11,678 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 5,681 | — | 403 | — | 6,084 | ||||||||||||||||||||||||
Commercial and industrial | 9,238 | — | — | — | 9,238 | ||||||||||||||||||||||||
Total | $ | 58,403 | $ | — | $ | 6,270 | $ | — | $ | 64,673 | |||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,324 | |||||||||||||||||||||||||||
Total | $ | 1,324 | |||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Special | Sub- | Total | |||||||||||||||||||||||||||
Originated | Pass | mention | standard | Doubtful | loans | ||||||||||||||||||||||||
Commercial real estate | $ | 280,356 | $ | 2,330 | $ | 3,252 | $ | — | $ | 285,938 | |||||||||||||||||||
Real estate construction | 29,673 | 573 | 1,044 | — | 31,290 | ||||||||||||||||||||||||
Real estate multi-family | 34,357 | — | — | — | 34,357 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 97,514 | — | 429 | 253 | 98,196 | ||||||||||||||||||||||||
Commercial & industrial | 36,837 | — | 1,439 | 11 | 38,287 | ||||||||||||||||||||||||
Consumer loans | 1,631 | — | 19 | — | 1,650 | ||||||||||||||||||||||||
Totals | $ | 480,368 | $ | 2,903 | $ | 6,183 | $ | 264 | $ | 489,718 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Not credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 28,342 | $ | 4,951 | $ | 4,643 | $ | — | $ | 37,936 | |||||||||||||||||||
Real estate construction | 1,520 | — | 1,508 | — | 3,028 | ||||||||||||||||||||||||
Real estate multi-family | 11,786 | — | — | — | 11,786 | ||||||||||||||||||||||||
Real estate 1 to 4 family | 8,299 | — | 408 | — | 8,707 | ||||||||||||||||||||||||
Commercial & industrial | 10,217 | — | — | — | 10,217 | ||||||||||||||||||||||||
Total | $ | 60,164 | $ | 4,951 | $ | 6,559 | $ | — | $ | 71,674 | |||||||||||||||||||
Purchased | |||||||||||||||||||||||||||||
Credit impaired | |||||||||||||||||||||||||||||
Commercial real estate | $ | 1,325 | |||||||||||||||||||||||||||
Total | $ | 1,325 |
G_FAIR_VALUE_MEASUREMENT_Table
G. FAIR VALUE MEASUREMENT (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
FAIR VALUE MEASUREMENT TABLES {1} | ' | ||||||||||||||||||||
Schedule of assets measured at fair value on a recurring basis | ' | ||||||||||||||||||||
The following tables present the recorded amounts of assets measured at fair value on a recurring basis: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at June 30, 2014, Using | ||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | |||||||||||||||||||||
Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 6/30/14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
U. S. Treasury securities | $ | 3,948 | $ | 3,948 | $ | — | $ | — | |||||||||||||
Obligations of U.S. Government agencies | 70,617 | — | 70,617 | — | |||||||||||||||||
Mortgage-backed securities | 85,209 | — | 85,209 | — | |||||||||||||||||
Obligations of states and political subdivisions | 83,017 | — | 83,017 | — | |||||||||||||||||
Corporate debt | 25,004 | — | 25,004 | — | |||||||||||||||||
Total assets measured at fair value | $ | 267,795 | $ | 3,948 | $ | 263,847 | $ | — | |||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at December 31, 2013, Using | ||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | |||||||||||||||||||||
Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
U. S. Treasury securities | $ | 3,027 | $ | 3,027 | $ | — | $ | — | |||||||||||||
Obligations of U.S. Government agencies | 73,319 | — | 73,319 | — | |||||||||||||||||
Mortgage-backed securities | 77,860 | — | 77,860 | — | |||||||||||||||||
Obligations of states and political subdivisions | 82,676 | — | 82,676 | — | |||||||||||||||||
Corporate debt | 27,106 | — | 27,106 | — | |||||||||||||||||
Total assets measured at fair value | $ | 263,988 | $ | 3,027 | $ | 260,961 | $ | — | |||||||||||||
Schedule of assets measured at fair value on a non-recurring basis | ' | ||||||||||||||||||||
The following tables present the recorded amounts of assets measured at fair value on a non-recurring basis: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at June 30, 2014, Using | ||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 6/30/14 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | $ | 1,110 | $ | — | $ | — | $ | 1,110 | |||||||||||||
Residential- 1 to 4 family | 64 | — | — | 64 | |||||||||||||||||
Commercial real estate | 373 | — | — | 373 | |||||||||||||||||
Total impaired assets measured at fair value | $ | 1,547 | $ | — | $ | — | $ | 1,547 | |||||||||||||
Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | at December 31, 2013, Using | ||||||||||||||||||||
Quoted Prices in | |||||||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||||||
Fair Value | Assets | Inputs | Inputs | ||||||||||||||||||
Description | 12/31/13 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
Impaired loans:: | |||||||||||||||||||||
Commercial and industrial | $ | 1,908 | $ | — | $ | — | $ | 1,908 | |||||||||||||
Residential- 1 to 4 family | 411 | — | — | 411 | |||||||||||||||||
Commercial real estate | 2,491 | — | — | 2,491 | |||||||||||||||||
Other real estate owned | 1,771 | — | — | 1,771 | |||||||||||||||||
Total impaired assets measured at fair value | $ | 6,581 | $ | — | $ | — | $ | 6,581 | |||||||||||||
Schedule of estimated fair value of financial instruments | ' | ||||||||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at June 30, 2014: | |||||||||||||||||||||
30-Jun-14 | Carrying | Fair | Fair value measurements | ||||||||||||||||||
(Dollar amounts in thousands) | amount | value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 21,682 | $ | 21,682 | $ | 21,682 | |||||||||||||||
Interest-bearing time deposits with financial institutions | 4,461 | 4,461 | 4,461 | ||||||||||||||||||
Securities available for sale | 267,795 | 267,795 | 3,948 | 263,847 | |||||||||||||||||
Loans | 571,291 | 583,474 | 583,474 | ||||||||||||||||||
Other equity securities | 5,576 | 5,576 | 5,576 | ||||||||||||||||||
Accrued interest receivable | 3,674 | 3,674 | 3,674 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 790,222 | 790,222 | 790,222 | ||||||||||||||||||
Federal Home Loan Bank advances | 7,000 | 7,000 | 7,000 | ||||||||||||||||||
Note payable | 5,850 | 5,850 | 5,850 | ||||||||||||||||||
Accrued interest payable | 239 | 239 | 239 | ||||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,391 | 1,391 | ||||||||||||||||||
The following table provides summary information on the estimated fair value of financial instruments at December 31, 2013: | |||||||||||||||||||||
31-Dec-13 | Carrying | Fair | Fair value measurements | ||||||||||||||||||
(Dollar amounts in thousands) | amount | value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 14,007 | $ | 14,007 | $ | 14,007 | |||||||||||||||
Interest-bearing time deposits with financial institutions | 5,543 | 5,543 | 5,543 | ||||||||||||||||||
Securities available for sale | 263,988 | 263,988 | 3,027 | 260,961 | |||||||||||||||||
Loans | 562,717 | 563,325 | 563,325 | ||||||||||||||||||
Other equity securities | 5,300 | 5,300 | 5,300 | ||||||||||||||||||
Accrued interest receivable | 3,808 | 3,808 | 3,808 | ||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 773,615 | 774,012 | 774,012 | ||||||||||||||||||
Federal Home Loan Bank advances | 15,000 | 15,000 | 15,000 | ||||||||||||||||||
Accrued interest payable | 224 | 224 | 224 | ||||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | — | 1,297 | 1,297 | ||||||||||||||||||
B_STOCK_OPTION_PLANS_Detail_Na
B. STOCK OPTION PLANS (Detail Narratives) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
STOCK OPTION PLANS DETAILS | ' | ' | ' | ' |
Compensation expense for options | $69 | $76 | $139 | $122 |
Recognized income tax benefit | ' | ' | 245 | 121 |
Intrinsic Value Options Exercised | ' | ' | 259 | 108 |
Intrinsic Value Options Exercisable | 2,239 | 1,081 | 2,239 | 1,081 |
Unrecognized Compensation Expense Nonvested Options | $764 | ' | $764 | ' |
Non-vested options weighted average period | ' | ' | '3 years 7 months 6 days | ' |
C_EARNINGS_PER_SHARE_CALCULATI2
C. EARNINGS PER SHARE CALCULATION (Dollar amounts in thousands) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Summary Earnings per share calculation | ' | ' | ' | ' |
Net earnings | $1,629 | $1,379 | $3,463 | $2,309 |
Dividends and discount accretion on preferred stock | 0 | 172 | 170 | 330 |
Net earnings available to common stockholders | 1,629 | 1,207 | 3,293 | 1,979 |
Average number of shares outstanding | 4,029 | 3,915 | 4,007 | 3,908 |
Effect of dilutive options | $130 | $88 | $135 | $92 |
Average number of shares outstanding used to calculate diluted earnings per share | 4,159 | 4,003 | 4,142 | 4,000 |
Anti-dilutive options not included | 62,800 | 204,359 | 246,420 | 230,859 |
D_SECURITIES_AVAILABLE_FOR_SAL2
D. SECURITIES AVAILABLE FOR SALE, Amortized cost and carrying values (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Available for sale securities, Amortized Cost | $265,687 | $266,117 |
Available for sale securities, Unrealized Gains | 3,970 | 2,657 |
Available for sale securities, Unrealized Losses | -1,862 | -4,786 |
Available for sale securities, Estimated Fair Value | 267,795 | 263,988 |
U.S. Treasury securities | ' | ' |
Available for sale securities, Amortized Cost | 3,973 | 3,069 |
Available for sale securities, Unrealized Gains | 6 | 12 |
Available for sale securities, Unrealized Losses | -31 | -54 |
Available for sale securities, Estimated Fair Value | 3,948 | 3,027 |
Obligations of U.S. government agencies | ' | ' |
Available for sale securities, Amortized Cost | 70,482 | 73,691 |
Available for sale securities, Unrealized Gains | 437 | 488 |
Available for sale securities, Unrealized Losses | -302 | -860 |
Available for sale securities, Estimated Fair Value | 70,617 | 73,319 |
Mortgage-backed securities | ' | ' |
Available for sale securities, Amortized Cost | 85,360 | 79,873 |
Available for sale securities, Unrealized Gains | 881 | 360 |
Available for sale securities, Unrealized Losses | -1,032 | -2,373 |
Available for sale securities, Estimated Fair Value | 85,209 | 77,860 |
Obligations of states and political subdivisions | ' | ' |
Available for sale securities, Amortized Cost | 81,128 | 82,526 |
Available for sale securities, Unrealized Gains | 2,327 | 1,467 |
Available for sale securities, Unrealized Losses | -438 | -1,317 |
Available for sale securities, Estimated Fair Value | 83,017 | 82,676 |
Corporate debt | ' | ' |
Available for sale securities, Amortized Cost | 24,744 | 26,958 |
Available for sale securities, Unrealized Gains | 319 | 330 |
Available for sale securities, Unrealized Losses | -59 | -182 |
Available for sale securities, Estimated Fair Value | $25,004 | $27,106 |
D_SECURITIES_AVAILABLE_FOR_SAL3
D. SECURITIES AVAILABLE FOR SALE, Analysis of gross unrealized losses (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Less than 12 months, Estimated Fair Value | $22,062 | $137,651 |
Less than 12 months, Unrealized Loss | -119 | -4,357 |
12 months or more, Estimated Fair Value | 84,533 | 7,245 |
12 months or more, Unrealized Loss | -1,743 | -429 |
Total Estimated Fair Value | 106,595 | 144,896 |
Total Unrealized Loss | -1,862 | -4,786 |
U.S. Treasury securities | ' | ' |
Less than 12 months, Estimated Fair Value | 2,019 | 2,002 |
Less than 12 months, Unrealized Loss | -31 | -54 |
12 months or more, Estimated Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Estimated Fair Value | 2,019 | 2,002 |
Total Unrealized Loss | -31 | -54 |
Obligations of U.S. government agencies | ' | ' |
Less than 12 months, Estimated Fair Value | 7,808 | 40,108 |
Less than 12 months, Unrealized Loss | -10 | -860 |
12 months or more, Estimated Fair Value | 22,153 | 0 |
12 months or more, Unrealized Loss | -292 | 0 |
Total Estimated Fair Value | 29,961 | 40,108 |
Total Unrealized Loss | -302 | -860 |
Mortgage-backed securities | ' | ' |
Less than 12 months, Estimated Fair Value | 3,598 | 51,419 |
Less than 12 months, Unrealized Loss | -11 | -2,015 |
12 months or more, Estimated Fair Value | 39,727 | 5,664 |
12 months or more, Unrealized Loss | -1,021 | -358 |
Total Estimated Fair Value | 43,325 | 57,083 |
Total Unrealized Loss | -1,032 | -2,373 |
Obligations of states and political subdivisions | ' | ' |
Less than 12 months, Estimated Fair Value | 7,455 | 33,265 |
Less than 12 months, Unrealized Loss | -65 | -1,248 |
12 months or more, Estimated Fair Value | 15,746 | 1,083 |
12 months or more, Unrealized Loss | -373 | -69 |
Total Estimated Fair Value | 23,201 | 34,348 |
Total Unrealized Loss | -438 | -1,317 |
Corporate debt | ' | ' |
Less than 12 months, Estimated Fair Value | 1,182 | 10,857 |
Less than 12 months, Unrealized Loss | -2 | -180 |
12 months or more, Estimated Fair Value | 6,907 | 498 |
12 months or more, Unrealized Loss | -57 | -2 |
Total Estimated Fair Value | 8,089 | 11,355 |
Total Unrealized Loss | ($59) | ($182) |
D_SECURITIES_AVAILABLE_FOR_SAL4
D. SECURITIES AVAILABLE FOR SALE, Amortized Cost and Carrying Value (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
SECURITIES AVAILABLE FOR SALE - Summary of Investments Amortized Cost and Carrying Value | ' |
Due in one year or less, Amortized Cost | $13,240 |
Due after one through five years, Amortized Cost | 98,770 |
Due after five through ten years, Amortized Cost | 115,377 |
Due after ten years, Amortized Cost | 38,300 |
Equity securities, Amortized Cost | 265,687 |
Due in one year or less, Estimated Fair Value | 13,363 |
Due after one through five years, Estimated Fair Value | 99,508 |
Due after five through ten years, Estimated Fair Value | 116,313 |
Due after ten years, Estimated Fair Value | 38,611 |
Equity securities, Estimated Fair Value | $267,795 |
E_LOANS_Summary_of_Loan_as_fol
E. LOANS, Summary of Loan as follows (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Gross loans | $571,768 | $562,717 |
Net deferred loan fees | -477 | -495 |
Allowance for loan losses | -10,859 | -9,879 |
Net loans | 560,432 | 552,343 |
Commercial real estate | ' | ' |
Gross loans | 319,661 | 325,199 |
Real estate construction | ' | ' |
Gross loans | 39,760 | ' |
Real Estate Multi family | ' | ' |
Gross loans | 53,499 | 46,143 |
Real Estate 1 to 4 family | ' | ' |
Gross loans | 114,869 | 106,903 |
Commercial & industrial | ' | ' |
Gross loans | 42,545 | 48,504 |
Consumer loans | ' | ' |
Gross loans | 1,434 | 1,650 |
Real Estate Construction | ' | ' |
Gross loans | ' | 34,318 |
FNB Bancorp Originated | ' | ' |
Gross loans | 505,771 | 489,718 |
Net deferred loan fees | -477 | -495 |
Allowance for loan losses | -10,859 | -9,869 |
Net loans | 494,435 | 479,354 |
FNB Bancorp Originated | Commercial real estate | ' | ' |
Gross loans | 282,646 | 285,938 |
FNB Bancorp Originated | Real estate construction | ' | ' |
Gross loans | 37,778 | 31,290 |
FNB Bancorp Originated | Real Estate Multi family | ' | ' |
Gross loans | 41,821 | 34,357 |
FNB Bancorp Originated | Real Estate 1 to 4 family | ' | ' |
Gross loans | 108,785 | 98,196 |
FNB Bancorp Originated | Commercial & industrial | ' | ' |
Gross loans | 33,307 | 38,287 |
FNB Bancorp Originated | Consumer loans | ' | ' |
Gross loans | 1,434 | 1,650 |
PNCI | ' | ' |
Gross loans | 64,673 | 71,674 |
Net deferred loan fees | 0 | 0 |
Allowance for loan losses | ' | -10 |
Net loans | 64,673 | 71,664 |
PNCI | Commercial real estate | ' | ' |
Gross loans | 35,691 | 37,936 |
PNCI | Real estate construction | ' | ' |
Gross loans | 1,982 | 3,028 |
PNCI | Real Estate Multi family | ' | ' |
Gross loans | 11,678 | 11,786 |
PNCI | Real Estate 1 to 4 family | ' | ' |
Gross loans | 6,084 | 8,707 |
PNCI | Commercial & industrial | ' | ' |
Gross loans | 9,238 | 10,217 |
PNCI | Consumer loans | ' | ' |
Gross loans | 0 | 0 |
PCI | ' | ' |
Gross loans | 1,324 | 1,325 |
Net deferred loan fees | 0 | 0 |
Allowance for loan losses | 0 | 0 |
Net loans | 1,324 | 1,325 |
PCI | Commercial real estate | ' | ' |
Gross loans | 1,324 | 1,325 |
PCI | Real estate construction | ' | ' |
Gross loans | 0 | 0 |
PCI | Real Estate Multi family | ' | ' |
Gross loans | 0 | 0 |
PCI | Real Estate 1 to 4 family | ' | ' |
Gross loans | 0 | 0 |
PCI | Commercial & industrial | ' | ' |
Gross loans | 0 | 0 |
PCI | Consumer loans | ' | ' |
Gross loans | $0 | $0 |
5_LOANS_Allowance_for_Credit_L
5. LOANS, Allowance for Credit Losses (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Real Estate Multi family | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | $369 | $281 | $293 | $0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 96 | 48 | 172 | 329 |
Ending balance | 465 | 329 | 465 | 329 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 465 | 329 | 465 | 329 |
Real Estate 1 to 4 family | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 1,835 | 1,862 | 1,788 | 1,516 |
Charge-offs | 0 | -125 | -62 | -244 |
Recoveries | 1 | 0 | 2 | 1 |
Provision | 414 | 91 | 522 | 518 |
Ending balance | 2,250 | 1,828 | 2,250 | 1,791 |
Ending balance: individually evaluated for impairment | 481 | 237 | 481 | 237 |
Ending balance: collectively evaluated for impairment | 1,769 | 1,591 | 1,769 | 1,554 |
Commercial and industrial | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 1,268 | 1,577 | 1,237 | 1,875 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 110 | 0 | 124 | 70 |
Provision | -212 | -86 | -195 | -454 |
Ending balance | 1,166 | 1,491 | 1,166 | 1,491 |
Ending balance: individually evaluated for impairment | 151 | 254 | 151 | 254 |
Ending balance: collectively evaluated for impairment | 1,015 | 1,237 | 1,015 | 1,237 |
Commercial and Real estate | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 5,624 | 4,930 | 5,763 | 4,812 |
Charge-offs | 0 | 0 | 0 | -239 |
Recoveries | 1,051 | 2 | 1,052 | 4 |
Provision | -460 | 379 | -600 | 754 |
Ending balance | 6,215 | 5,311 | 6,215 | 5,331 |
Ending balance: individually evaluated for impairment | 128 | 189 | 128 | 210 |
Ending balance: collectively evaluated for impairment | 6,087 | 5,122 | 6,087 | 5,121 |
Real Estate Construction | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 735 | 653 | 734 | 857 |
Charge-offs | -183 | 0 | -183 | -81 |
Recoveries | 0 | 0 | 0 | 0 |
Provision | 165 | 72 | 166 | -34 |
Ending balance | 717 | 725 | 717 | 742 |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 17 |
Ending balance: collectively evaluated for impairment | 717 | 725 | 717 | 725 |
Consumer | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 66 | 54 | 64 | 64 |
Charge-offs | -20 | 0 | -31 | -1 |
Recoveries | 3 | 1 | 3 | 1 |
Provision | -3 | 6 | 10 | -3 |
Ending balance | 46 | 61 | 46 | 61 |
Ending balance: individually evaluated for impairment | 0 | 1 | 0 | 1 |
Ending balance: collectively evaluated for impairment | 46 | 60 | 46 | 60 |
Total | ' | ' | ' | ' |
Allowance for credit losses | ' | ' | ' | ' |
Beginning balance | 9,897 | 9,357 | 9,879 | 9,124 |
Charge-offs | -203 | -125 | -276 | -565 |
Recoveries | 1,165 | 3 | 1,181 | 76 |
Provision | 0 | 510 | 75 | 1,110 |
Ending balance | 10,859 | 9,745 | 10,859 | 9,745 |
Ending balance: individually evaluated for impairment | 760 | 681 | 760 | 719 |
Ending balance: collectively evaluated for impairment | $10,099 | $9,064 | $10,099 | $9,026 |
5_LOANS_Recorded_Investment_in
5. LOANS, Recorded Investment in Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Real Estate Construction | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | $39,760 | $34,318 | $25,974 |
Ending balance: individually evaluated for impairment | 2,382 | 189 | 591 |
Ending balance: collectively evaluated for impairment | 37,378 | 34,129 | 25,383 |
Real Estate Multi family | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 53,499 | 46,143 | 56,002 |
Ending balance: individually evaluated for impairment | 0 | 375 | 1,192 |
Ending balance: collectively evaluated for impairment | 53,499 | 46,143 | 54,810 |
Commercial and industrial | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 42,545 | 48,504 | 47,739 |
Ending balance: individually evaluated for impairment | 4,133 | 2,497 | 3,795 |
Ending balance: collectively evaluated for impairment | 38,412 | 46,007 | 43,944 |
Commercial and Real estate | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 319,661 | 323,874 | 304,819 |
Ending balance: individually evaluated for impairment | 9,043 | 17,974 | 19,244 |
Ending balance: collectively evaluated for impairment | 310,618 | 305,900 | 285,575 |
Real Estate 1 to 4 family | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 114,869 | 106,903 | 105,094 |
Ending balance: individually evaluated for impairment | 3,847 | 4,077 | 3,395 |
Ending balance: collectively evaluated for impairment | 111,022 | 102,826 | 101,699 |
Consumer | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 1,434 | 1,650 | 1,725 |
Ending balance: individually evaluated for impairment | 9 | 0 | 1 |
Ending balance: collectively evaluated for impairment | 1,425 | 1,650 | 1,724 |
Total | ' | ' | ' |
Loans: | ' | ' | ' |
Ending balance | 571,768 | 561,392 | 541,353 |
Ending balance: individually evaluated for impairment | 19,414 | 25,112 | 28,218 |
Ending balance: collectively evaluated for impairment | $552,354 | $536,655 | $513,135 |
E_LOANS_Impaired_Loans_Allowan
E. LOANS, Impaired Loans Allowance (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
With no related allowance, Recorded Investment | $9,340 | $14,994 |
With no related allowance, Unpaid Principal Balance | 10,860 | 16,426 |
With no related allowance, Average Recorded Investment | 8,887 | 14,042 |
With no related allowance, Income Recognized | 252 | 693 |
With an allowance recorded, Recorded Investment | 10,061 | 10,118 |
With an allowance recorded, Unpaid Principal Balance | 10,612 | 10,578 |
With an allowance recorded, Related Allowance | 760 | 595 |
With an allowance recorded, Average Impaired Balance | 10,324 | 9,869 |
With an allowance recorded, Income Recognized | 203 | 402 |
Recorded Investment | 19,401 | 25,112 |
Unpaid Principal Balance | 21,472 | 27,004 |
Related Allowance | 760 | 595 |
Average Recorded Investment | 19,211 | 23,911 |
Income Recognized | 455 | 1,095 |
Commercial & industrial | ' | ' |
With no related allowance, Recorded Investment | 2,796 | 1,059 |
With no related allowance, Unpaid Principal Balance | 3,858 | 1,232 |
With no related allowance, Average Recorded Investment | 2,885 | 1,204 |
With no related allowance, Income Recognized | 127 | 66 |
With an allowance recorded, Recorded Investment | 1,337 | 1,438 |
With an allowance recorded, Unpaid Principal Balance | 1,740 | 1,871 |
With an allowance recorded, Related Allowance | 151 | 166 |
With an allowance recorded, Average Impaired Balance | 1,418 | 1,710 |
With an allowance recorded, Income Recognized | 4 | 15 |
Recorded Investment | 4,133 | 2,497 |
Unpaid Principal Balance | 5,598 | 3,103 |
Related Allowance | 151 | 166 |
Average Recorded Investment | 4,303 | 2,914 |
Income Recognized | 131 | 81 |
Commercial real estate construction | ' | ' |
With no related allowance, Recorded Investment | 2,382 | 0 |
With no related allowance, Unpaid Principal Balance | 2,565 | 0 |
With no related allowance, Average Recorded Investment | 1,851 | 0 |
With no related allowance, Income Recognized | 71 | 0 |
With an allowance recorded, Recorded Investment | 0 | 189 |
With an allowance recorded, Unpaid Principal Balance | 0 | 196 |
With an allowance recorded, Related Allowance | 0 | 10 |
With an allowance recorded, Average Impaired Balance | 0 | 198 |
With an allowance recorded, Income Recognized | 0 | 18 |
Recorded Investment | 2,382 | 189 |
Unpaid Principal Balance | 2,565 | 196 |
Related Allowance | 0 | 10 |
Average Recorded Investment | 1,851 | 198 |
Income Recognized | 71 | 18 |
Commercial real estate | ' | ' |
With no related allowance, Recorded Investment | 3,524 | 12,397 |
With no related allowance, Unpaid Principal Balance | 3,799 | 13,535 |
With no related allowance, Average Recorded Investment | 3,510 | 11,445 |
With no related allowance, Income Recognized | 48 | 565 |
With an allowance recorded, Recorded Investment | 5,506 | 5,577 |
With an allowance recorded, Unpaid Principal Balance | 5,507 | 5,588 |
With an allowance recorded, Related Allowance | 128 | 165 |
With an allowance recorded, Average Impaired Balance | 5,575 | 4,972 |
With an allowance recorded, Income Recognized | 134 | 254 |
Recorded Investment | 9,030 | 17,974 |
Unpaid Principal Balance | 9,306 | 19,123 |
Related Allowance | 128 | 165 |
Average Recorded Investment | 9,085 | 16,417 |
Income Recognized | 182 | 819 |
Real Estate 1 to 4 family | ' | ' |
With no related allowance, Recorded Investment | 629 | 1,163 |
With no related allowance, Unpaid Principal Balance | 629 | 1,284 |
With no related allowance, Average Recorded Investment | 632 | 1,009 |
With no related allowance, Income Recognized | 6 | 37 |
With an allowance recorded, Recorded Investment | 3,218 | 2,914 |
With an allowance recorded, Unpaid Principal Balance | 3,365 | 2,923 |
With an allowance recorded, Related Allowance | 481 | 254 |
With an allowance recorded, Average Impaired Balance | 3,331 | 2,989 |
With an allowance recorded, Income Recognized | 65 | 115 |
Recorded Investment | 3,847 | 4,077 |
Unpaid Principal Balance | 3,994 | 4,207 |
Related Allowance | 481 | 254 |
Average Recorded Investment | 3,963 | 3,998 |
Income Recognized | 71 | 152 |
Consumer loans | ' | ' |
With no related allowance, Recorded Investment | 9 | ' |
With no related allowance, Unpaid Principal Balance | 9 | ' |
With no related allowance, Average Recorded Investment | 9 | ' |
With no related allowance, Income Recognized | 0 | ' |
Recorded Investment | 9 | ' |
Unpaid Principal Balance | 9 | ' |
Related Allowance | 0 | ' |
Average Recorded Investment | 9 | ' |
Income Recognized | 0 | ' |
Real Estate Multi family | ' | ' |
With no related allowance, Recorded Investment | ' | 375 |
With no related allowance, Unpaid Principal Balance | ' | 375 |
With no related allowance, Average Recorded Investment | ' | 384 |
With no related allowance, Income Recognized | ' | 25 |
Recorded Investment | ' | 375 |
Unpaid Principal Balance | ' | 375 |
Related Allowance | ' | 0 |
Average Recorded Investment | ' | 384 |
Income Recognized | ' | $25 |
E_LOANS_Nonaccrual_Details
E. LOANS, Nonaccrual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans, Nonaccrual Status | $5,463 | $7,351 |
Commercial & industrial | ' | ' |
Loans, Nonaccrual Status | 1,928 | 2,046 |
Real Estate Construction | ' | ' |
Loans, Nonaccrual Status | 0 | 189 |
Commercial real estate | ' | ' |
Loans, Nonaccrual Status | 2,852 | 4,290 |
Real Estate 1 to 4 family | ' | ' |
Loans, Nonaccrual Status | 674 | 826 |
Consumer loans | ' | ' |
Loans, Nonaccrual Status | $9 | $0 |
E_LOANS_Troubled_Debt_Restruct
E. LOANS, Troubled Debt Restructurings (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Troubled debt restructured loans outstanding, accrual status | $12,868 | $8,897 |
Troubled debt restructured loans outstanding, nonaccrual status | 4,485 | 4,809 |
Total modifications | 17,353 | 13,706 |
Commercial real estate | ' | ' |
Troubled debt restructured loans outstanding, accrual status | 9,398 | 6,315 |
Troubled debt restructured loans outstanding, nonaccrual status | 2,101 | 2,140 |
Total modifications | 11,499 | 8,455 |
Real Estate Construction | ' | ' |
Troubled debt restructured loans outstanding, accrual status | 0 | 0 |
Troubled debt restructured loans outstanding, nonaccrual status | 0 | 189 |
Total modifications | 0 | 189 |
Real Estate 1 to 4 family | ' | ' |
Troubled debt restructured loans outstanding, accrual status | 3,173 | 2,121 |
Troubled debt restructured loans outstanding, nonaccrual status | 516 | 529 |
Total modifications | 3,689 | 2,650 |
Commercial & industrial | ' | ' |
Troubled debt restructured loans outstanding, accrual status | 297 | 461 |
Troubled debt restructured loans outstanding, nonaccrual status | 1,868 | 1,951 |
Total modifications | $2,165 | $2,412 |
E_LOANS_Payment_Modification_D
E. LOANS, Payment Modification (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Number of Modifications | 3 | 3 | 4 | 8 |
Pre-modification Recorded Investment | $1,454 | $1,943 | $2,026 | $5,216 |
Post-modification Recorded Investment | 1,454 | 1,943 | 2,026 | 5,216 |
Real Estate 1 to 4 family | ' | ' | ' | ' |
Number of Modifications | ' | 2 | 1 | 2 |
Pre-modification Recorded Investment | ' | 1,503 | 572 | 739 |
Post-modification Recorded Investment | ' | 1,503 | 572 | 739 |
Commercial real estate | ' | ' | ' | ' |
Number of Modifications | 3 | 1 | 3 | 4 |
Pre-modification Recorded Investment | 1,454 | 440 | 1,454 | 3,737 |
Post-modification Recorded Investment | 1,454 | 440 | 1,454 | 3,737 |
Real Estate Construction | ' | ' | ' | ' |
Number of Modifications | ' | ' | ' | 1 |
Pre-modification Recorded Investment | ' | ' | ' | 196 |
Post-modification Recorded Investment | ' | ' | ' | 196 |
Real Estate Multi family | ' | ' | ' | ' |
Number of Modifications | ' | ' | ' | 1 |
Pre-modification Recorded Investment | ' | ' | ' | 544 |
Post-modification Recorded Investment | ' | ' | ' | $544 |
E_LOANS_Past_due_loans_Details
E. LOANS, Past due loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Originated | ' | ' |
Past Due, 30-59 days | $130 | $2,243 |
Past Due, 60-89 days | 590 | 304 |
Past Due, > 90 days | 2,793 | 5,221 |
Past Due, Total | 3,513 | 7,768 |
Current | 502,258 | 481,950 |
Total Loans | 505,771 | 489,718 |
Originated | Commercial real estate | ' | ' |
Past Due, 30-59 days | 0 | 1,403 |
Past Due, 60-89 days | 590 | 0 |
Past Due, > 90 days | 727 | 2,349 |
Past Due, Total | 1,317 | 3,752 |
Current | 281,329 | 282,186 |
Total Loans | 282,646 | 285,938 |
Originated | Real Estate Construction | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 0 | 0 |
Current | 37,778 | 31,290 |
Total Loans | 37,778 | 31,290 |
Originated | Real Estate Multi family | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 0 | 0 |
Current | 41,821 | 34,357 |
Total Loans | 41,821 | 34,357 |
Originated | Real Estate 1 to 4 family | ' | ' |
Past Due, 30-59 days | 88 | 161 |
Past Due, 60-89 days | 0 | 75 |
Past Due, > 90 days | 159 | 826 |
Past Due, Total | 247 | 1,062 |
Current | 108,538 | 97,134 |
Total Loans | 108,785 | 98,196 |
Originated | Commercial & industrial | ' | ' |
Past Due, 30-59 days | 33 | 563 |
Past Due, 60-89 days | 0 | 210 |
Past Due, > 90 days | 1,907 | 2,046 |
Past Due, Total | 1,940 | 2,819 |
Current | 31,367 | 35,468 |
Total Loans | 33,307 | 38,287 |
Originated | Consumer loans | ' | ' |
Past Due, 30-59 days | 9 | 116 |
Past Due, 60-89 days | 0 | 19 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 9 | 135 |
Current | 1,425 | 1,515 |
Total Loans | 1,434 | 1,650 |
Purchased Not credit impaired | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 805 |
Past Due, Total | 0 | 805 |
Current | 64,673 | 70,869 |
Total Loans | 64,673 | 71,674 |
Purchased Not credit impaired | Commercial real estate | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 616 |
Past Due, Total | 0 | 616 |
Current | 35,691 | 37,320 |
Total Loans | 35,691 | 37,936 |
Purchased Not credit impaired | Real Estate Construction | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 189 |
Past Due, Total | 0 | 189 |
Current | 1,982 | 2,839 |
Total Loans | 1,982 | 3,028 |
Purchased Not credit impaired | Real Estate Multi family | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 0 | 0 |
Current | 11,678 | 11,786 |
Total Loans | 11,678 | 11,786 |
Purchased Not credit impaired | Real Estate 1 to 4 family | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 0 | 0 |
Current | 6,084 | 8,707 |
Total Loans | 6,084 | 8,707 |
Purchased Not credit impaired | Commercial & industrial | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 0 |
Past Due, Total | 0 | 0 |
Current | 9,238 | 10,217 |
Total Loans | 9,238 | 10,217 |
Purchased Credit impaired | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 1,325 |
Past Due, Total | 0 | 1,325 |
Current | 1,324 | 0 |
Total Loans | 1,324 | 1,325 |
Purchased Credit impaired | Commercial real estate | ' | ' |
Past Due, 30-59 days | 0 | 0 |
Past Due, 60-89 days | 0 | 0 |
Past Due, > 90 days | 0 | 1,325 |
Past Due, Total | 0 | 1,325 |
Current | 1,324 | 0 |
Total Loans | $1,324 | $1,325 |
5_LOANS_Credit_Quality_Indicat
5. LOANS, Credit Quality Indicators Loans (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Pass | ' | ' |
Originated | ' | ' |
Commercial real estate | $277,913 | $280,356 |
Real estate construction | 36,709 | 29,673 |
Real estate multi-family | 41,821 | 34,357 |
Real estate 1 to 4 family | 108,110 | 97,514 |
Commercial & industrial | 32,302 | 36,837 |
Consumer loans | 1,434 | 1,631 |
Totals | 498,289 | 480,368 |
Purchased Not credit impaired | ' | ' |
Commercial real estate | 29,824 | 28,342 |
Real estate construction | 1,982 | 1,520 |
Real estate multi-family | 11,678 | 11,786 |
Real estate 1 to 4 family | 5,681 | 8,299 |
Commercial & industrial | 9,238 | 10,217 |
Total | 58,403 | 60,164 |
Special mention | ' | ' |
Originated | ' | ' |
Commercial real estate | 1,933 | 2,330 |
Real estate construction | 0 | 573 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 0 |
Commercial & industrial | 0 | 0 |
Consumer loans | 0 | 0 |
Totals | 1,933 | 2,903 |
Purchased Not credit impaired | ' | ' |
Commercial real estate | 0 | 4,951 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 0 |
Commercial & industrial | 0 | 0 |
Total | 0 | 4,951 |
fil:SubStandardMember | ' | ' |
Originated | ' | ' |
Commercial real estate | 2,800 | 3,252 |
Real estate construction | 1,069 | 1,044 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 529 | 429 |
Commercial & industrial | 988 | 1,439 |
Consumer loans | 0 | 19 |
Totals | 5,386 | 6,183 |
Purchased Not credit impaired | ' | ' |
Commercial real estate | 5,867 | 4,643 |
Real estate construction | 0 | 1,508 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 403 | 408 |
Commercial & industrial | 0 | 0 |
Total | 6,270 | 6,559 |
Doubtful | ' | ' |
Originated | ' | ' |
Commercial real estate | 0 | 0 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 146 | 253 |
Commercial & industrial | 17 | 11 |
Consumer loans | 0 | 0 |
Totals | 163 | 264 |
Purchased Not credit impaired | ' | ' |
Commercial real estate | 0 | 0 |
Real estate construction | 0 | 0 |
Real estate multi-family | 0 | 0 |
Real estate 1 to 4 family | 0 | 0 |
Commercial & industrial | 0 | 0 |
Total | 0 | 0 |
Total loans | ' | ' |
Originated | ' | ' |
Commercial real estate | 282,646 | 285,938 |
Real estate construction | 37,778 | 31,290 |
Real estate multi-family | 41,821 | 34,357 |
Real estate 1 to 4 family | 108,785 | 98,196 |
Commercial & industrial | 33,307 | 38,287 |
Consumer loans | 1,434 | 1,650 |
Totals | 505,771 | 489,718 |
Purchased Not credit impaired | ' | ' |
Commercial real estate | 35,691 | 37,936 |
Real estate construction | 1,982 | 3,028 |
Real estate multi-family | 11,678 | 11,786 |
Real estate 1 to 4 family | 6,084 | 8,707 |
Commercial & industrial | 9,238 | 10,217 |
Total | 64,673 | 71,674 |
Purchased Credit Impaired | ' | ' |
Commercial real estate | 1,324 | 1,325 |
Total | $1,324 | $1,325 |
G_FAIR_VALUE_MEASUREMENT_Asset
G. FAIR VALUE MEASUREMENT, Assets (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
U. S. Treasury securities | $3,948 | $3,027 |
Obligations of U.S. Government agencies | 70,617 | 73,319 |
Mortgage-backed securities | 85,209 | 77,860 |
Obligations of states and political subdivisions | 83,017 | 82,676 |
Corporate debt | 25,004 | 27,106 |
Total assets measured at fair value | 267,795 | 263,988 |
Level 1 | ' | ' |
U. S. Treasury securities | 3,948 | 3,027 |
Obligations of U.S. Government agencies | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate debt | 0 | 0 |
Total assets measured at fair value | 3,948 | 3,027 |
Level 2 | ' | ' |
U. S. Treasury securities | 0 | 0 |
Obligations of U.S. Government agencies | 70,617 | 73,319 |
Mortgage-backed securities | 85,209 | 77,860 |
Obligations of states and political subdivisions | 83,017 | 82,676 |
Corporate debt | 25,004 | 27,106 |
Total assets measured at fair value | 263,847 | 260,961 |
Level 3 | ' | ' |
U. S. Treasury securities | 0 | 0 |
Obligations of U.S. Government agencies | 0 | 0 |
Mortgage-backed securities | 0 | 0 |
Obligations of states and political subdivisions | 0 | 0 |
Corporate debt | 0 | 0 |
Total assets measured at fair value | $0 | $0 |
G_FAIR_VALUE_MEASUREMENT_Nonre
G. FAIR VALUE MEASUREMENT, Nonrecurring basis (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value | ' | ' |
Commercial and Insustrial | $1,110 | $1,908 |
Residential- 1 to 4 family | 64 | 411 |
Commercial real estate | 373 | 2,491 |
Other real estate owned | ' | 1,771 |
Total impaired assets measured at fair value | 1,547 | 6,581 |
Level 1 | ' | ' |
Commercial and Insustrial | 0 | 0 |
Residential- 1 to 4 family | 0 | 0 |
Commercial real estate | 0 | 0 |
Other real estate owned | ' | 0 |
Total impaired assets measured at fair value | 0 | 0 |
Level 2 | ' | ' |
Commercial and Insustrial | 0 | 0 |
Residential- 1 to 4 family | 0 | 0 |
Commercial real estate | 0 | 0 |
Other real estate owned | ' | 0 |
Total impaired assets measured at fair value | 0 | 0 |
Level 3 | ' | ' |
Commercial and Insustrial | 1,110 | 1,908 |
Residential- 1 to 4 family | 64 | 411 |
Commercial real estate | 373 | 2,491 |
Other real estate owned | ' | 1,771 |
Total impaired assets measured at fair value | $1,547 | $6,581 |
G_FAIR_VALUE_MEASUREMENT_Finan
G. FAIR VALUE MEASUREMENT, Financial instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $21,682 | $14,007 | $23,698 | $27,861 |
Interest-bearing time deposits with financial Institutions | 4,461 | 5,543 | ' | ' |
Other Equity Securities | 267,795 | ' | ' | ' |
Accrued interest receivable | 3,674 | 3,808 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 790,222 | 773,615 | ' | ' |
Notes payable | 5,850 | 0 | ' | ' |
Carrying Amount | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 21,682 | 14,007 | ' | ' |
Interest-bearing time deposits with financial Institutions | 4,461 | 5,543 | ' | ' |
Securities available for sale | 267,795 | 263,988 | ' | ' |
Loans, net | 571,291 | 562,717 | ' | ' |
Other Equity Securities | 5,576 | 5,300 | ' | ' |
Accrued interest receivable | 3,674 | 3,808 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 790,222 | 773,615 | ' | ' |
Federal Home Loan Bank advances | 7,000 | 15,000 | ' | ' |
Notes payable | 5,850 | 224 | ' | ' |
Accrued interest payable | 239 | 0 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ' | ' |
Fair Value | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 21,682 | 14,007 | ' | ' |
Interest-bearing time deposits with financial Institutions | 4,461 | 5,543 | ' | ' |
Securities available for sale | 267,795 | 263,988 | ' | ' |
Loans, net | 583,474 | 563,325 | ' | ' |
Other Equity Securities | 5,576 | 5,300 | ' | ' |
Accrued interest receivable | 3,674 | 3,808 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 790,222 | 774,012 | ' | ' |
Federal Home Loan Bank advances | 7,000 | 15,000 | ' | ' |
Notes payable | 5,850 | 0 | ' | ' |
Accrued interest payable | 239 | 224 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 1,391 | 1,297 | ' | ' |
Level 1 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 21,682 | 14,007 | ' | ' |
Interest-bearing time deposits with financial Institutions | ' | 0 | ' | ' |
Securities available for sale | 3,948 | 3,027 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Other Equity Securities | 0 | 0 | ' | ' |
Accrued interest receivable | 0 | 0 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 0 | 0 | ' | ' |
Federal Home Loan Bank advances | 0 | 0 | ' | ' |
Notes payable | 0 | 0 | ' | ' |
Accrued interest payable | 0 | 0 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ' | ' |
Level 2 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Interest-bearing time deposits with financial Institutions | 4,461 | 5,543 | ' | ' |
Securities available for sale | 263,847 | 260,961 | ' | ' |
Loans, net | 0 | 0 | ' | ' |
Other Equity Securities | 0 | 0 | ' | ' |
Accrued interest receivable | 3,674 | 3,808 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 790,222 | 774,012 | ' | ' |
Federal Home Loan Bank advances | 7,000 | 15,000 | ' | ' |
Notes payable | 5,850 | 0 | ' | ' |
Accrued interest payable | 239 | 224 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | 0 | 0 | ' | ' |
Level 3 | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Interest-bearing time deposits with financial Institutions | 0 | 0 | ' | ' |
Securities available for sale | 0 | 0 | ' | ' |
Loans, net | 583,474 | 563,325 | ' | ' |
Other Equity Securities | 5,576 | 5,300 | ' | ' |
Accrued interest receivable | ' | 0 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 0 | 0 | ' | ' |
Federal Home Loan Bank advances | 0 | 0 | ' | ' |
Notes payable | 0 | 0 | ' | ' |
Accrued interest payable | 0 | 0 | ' | ' |
Off-balance-sheet liabilities: | ' | ' | ' | ' |
Undisbursed loan commitments, lines of credit, standby letters of credit and Mastercard lines of credit | $1,391 | $1,297 | ' | ' |