Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Registrant Name | 'NORTHRIM BANCORP INC | ' | ' |
Entity Central Index Key | '0001163370 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 6,537,652 | ' |
Entity Public Float | ' | ' | $147,934,042 |
Trading Symbol | 'NRIM | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $33,112 | $40,834 |
Interest bearing deposits in other banks | 65,979 | 113,979 |
Investment securities available for sale | 248,688 | 203,918 |
Investment securities held to maturity | 2,208 | 2,749 |
Total portfolio investments | 250,896 | 206,667 |
Investment in Federal Home Loan Bank stock | 1,896 | 1,967 |
Loans held for sale | 11,301 | 11,705 |
Loans | 770,016 | 704,213 |
Allowance for loan losses | -16,282 | -16,408 |
Net loans | 765,035 | 699,510 |
Purchased receivables, net | 16,025 | 19,022 |
Accrued interest receivable | 2,729 | 2,618 |
Other real estate owned, net | 2,402 | 4,543 |
Premises and equipment, net | 28,324 | 27,908 |
Goodwill and intangible assets, net | 7,942 | 8,170 |
Other assets | 40,666 | 34,889 |
Total assets | 1,215,006 | 1,160,107 |
LIABILITIES | ' | ' |
Demand | 363,969 | 361,167 |
Interest-bearing demand | 143,703 | 146,262 |
Savings | 94,518 | 87,241 |
Alaska CDs | 112,702 | 101,165 |
Money market | 202,606 | 181,598 |
Certificates of deposit less than $100,000 | 35,432 | 39,343 |
Certificates of deposit greater than $100,000 | 50,793 | 53,353 |
Total deposits | 1,003,723 | 970,129 |
Securities sold under repurchase agreements | 21,143 | 19,038 |
Borrowings | 6,527 | 4,479 |
Junior subordinated debentures | 18,558 | 18,558 |
Other liabilities | 20,737 | 11,550 |
Total liabilities | 1,070,688 | 1,023,754 |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock, $1 par value, 2,500,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $1 par value, 10,000,000 shares authorized, 6,537,652 and 6,511,649 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively | 6,538 | 6,512 |
Additional paid-in capital | 54,089 | 53,638 |
Retained earnings | 82,855 | 74,742 |
Accumulated other comprehensive income | 669 | 1,368 |
Total Northrim BanCorp shareholders' equity | 144,151 | 136,260 |
Noncontrolling interest | 167 | 93 |
Total shareholders' equity | 144,318 | 136,353 |
Total liabilities and shareholders' equity | $1,215,006 | $1,160,107 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 2,500,000 | 2,500,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 6,537,652 | 6,511,649 |
Common stock, shares outstanding | 6,537,652 | 6,511,649 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income | ' | ' | ' |
Interest and fees on loans | $43,137 | $41,515 | $42,391 |
Interest on investment securities available for sale | 2,603 | 2,796 | 3,097 |
Interest on investment securities held to maturity | 111 | 139 | 212 |
Interest on deposits in other banks | 223 | 278 | 208 |
Total Interest Income | 46,074 | 44,728 | 45,908 |
Interest Expense | ' | ' | ' |
Interest expense on deposits, borrowings and junior subordinated debentures | 2,040 | 2,505 | 3,544 |
Net Interest Income | 44,034 | 42,223 | 42,364 |
Provision (benefit) for loan losses | -635 | -1,559 | 1,999 |
Net Interest Income After Provision (Benefit) for Loan Losses | 44,669 | 43,782 | 40,365 |
Other Operating Income | ' | ' | ' |
Purchased receivable income | 2,797 | 3,026 | 2,703 |
Employee benefit plan income | 2,341 | 2,369 | 2,167 |
Electronic banking income | 2,151 | 2,058 | 1,945 |
Service charges on deposit accounts | 2,116 | 2,201 | 2,296 |
Equity in earnings from RML | 1,227 | 2,635 | 1,201 |
Gain on sale of securities | 333 | 336 | 419 |
Rental income | 108 | 773 | 776 |
Other income | 1,813 | 2,034 | 1,583 |
Total Other Operating Income | 12,886 | 15,432 | 13,090 |
Other Operating Expense | ' | ' | ' |
Salaries and other personnel expense | 23,796 | 22,032 | 21,006 |
Occupancy expense | 3,464 | 3,615 | 3,764 |
Marketing expense | 1,853 | 1,975 | 1,771 |
Professional and outside services | 1,761 | 1,479 | 1,386 |
Equipment expense | 1,239 | 1,205 | 1,200 |
Software expense | 1,066 | 1,111 | 1,005 |
Amortization of low income housing tax investments | 969 | 921 | 902 |
Insurance expense | 821 | 913 | 1,333 |
Internet banking expense | 778 | 701 | 648 |
Intangible asset amortization expense | 228 | 252 | 275 |
Reserve for purchased receivables | 100 | 357 | 0 |
OREO (income) expense, net rental income and gains on sale | -60 | 1,089 | -710 |
Other operating expense | 3,851 | 3,950 | 4,175 |
Total Other Operating Expense | 39,866 | 39,600 | 36,755 |
Income Before Provision for Income Taxes | 17,689 | 19,614 | 16,700 |
Provision for income taxes | 5,277 | 6,156 | 4,873 |
Net Income | 12,412 | 13,458 | 11,827 |
Less: Net income attributable to the noncontrolling interest | 87 | 512 | 429 |
Net Income Attributable to Northrim BanCorp | $12,325 | $12,946 | $11,398 |
Earnings Per Share, Basic | $1.89 | $2 | $1.77 |
Earnings per share, diluted | $1.87 | $1.97 | $1.74 |
Weighted Average Shares Outstanding, Basic | 6,519 | 6,477 | 6,439 |
Weighted Average Shares Outstanding, Diluted | 6,610 | 6,575 | 6,555 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $12,412 | $13,458 | $11,827 |
Other comprehensive income, net of tax: | ' | ' | ' |
Unrealized gains (losses) arising during the period | -1,204 | 1,843 | -620 |
Reclassification of net gains included in net income (net of tax expense $138,000, $172,000, and $267,000 in 2012, 2011 and 2010, respectively) | -196 | -198 | -247 |
Income tax benefit (expense) related to unrealized (losses) gains | 701 | -560 | 502 |
Other comprehensive income (loss) | -699 | 1,085 | -365 |
Comprehensive income | 11,713 | 14,543 | 11,462 |
Less: comprehensive income attributable to the noncontrolling interest | 87 | 512 | 429 |
Comprehensive income attributable to Northrim BanCorp | $11,626 | $14,031 | $11,033 |
Consolidated_Statements_Of_Com1
Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Reclassification of Net Gains | $138 | $172 | $267 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Shareholders' Equity (USD $) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income | Non-controlling Interest |
In Thousands, except Share data | ||||||
Beginning balance, value at Dec. 31, 2010 | $117,122 | $6,427 | $52,658 | $57,339 | $648 | $50 |
Beginning balance, shares at Dec. 31, 2010 | ' | 6,427 | ' | ' | ' | ' |
Cash dividend declared | -3,268 | ' | ' | -3,268 | ' | ' |
Stock based compensation expense | 519 | ' | 519 | ' | ' | ' |
Exercise of stock options, shares | ' | 40 | ' | ' | ' | ' |
Exercise of stock options | -144 | 40 | -184 | ' | ' | ' |
Excess tax benefits from share-based payment arrangements | 171 | ' | 171 | ' | ' | ' |
Distributions to noncontrolling interest | -427 | ' | ' | ' | ' | -427 |
Change in unrealized holding gain on available for sale securities, net of tax | -365 | ' | ' | ' | -365 | ' |
Net income attributable to the noncontrolling interest | 429 | ' | ' | ' | ' | 429 |
Net Income Attributable to Northrim BanCorp | 11,398 | ' | ' | 11,398 | ' | ' |
Ending balance, value at Dec. 31, 2011 | 125,435 | 6,467 | 53,164 | 65,469 | 283 | 52 |
Ending balance, shares at Dec. 31, 2011 | ' | 6,467 | ' | ' | ' | ' |
Cash dividend declared | -3,673 | ' | ' | -3,673 | ' | ' |
Stock based compensation expense | 454 | ' | 454 | ' | ' | ' |
Exercise of stock options, shares | ' | 45 | ' | ' | ' | ' |
Exercise of stock options | -168 | 45 | -213 | ' | ' | ' |
Excess tax benefits from share-based payment arrangements | 233 | ' | 233 | ' | ' | ' |
Distributions to noncontrolling interest | -471 | ' | ' | ' | ' | -471 |
Change in unrealized holding gain on available for sale securities, net of tax | 1,085 | ' | ' | ' | 1,085 | ' |
Net income attributable to the noncontrolling interest | 512 | ' | ' | ' | ' | 512 |
Net Income Attributable to Northrim BanCorp | 12,946 | ' | ' | 12,946 | ' | ' |
Ending balance, value at Dec. 31, 2012 | 136,353 | 6,512 | 53,638 | 74,742 | 1,368 | 93 |
Ending balance, shares at Dec. 31, 2012 | 6,511,649 | 6,512 | ' | ' | ' | ' |
Cash dividend declared | -4,212 | ' | ' | -4,212 | ' | ' |
Stock based compensation expense | 506 | ' | 506 | ' | ' | ' |
Exercise of stock options, shares | ' | 26 | ' | ' | ' | ' |
Exercise of stock options | -129 | 26 | -155 | ' | ' | ' |
Excess tax benefits from share-based payment arrangements | 100 | ' | 100 | ' | ' | ' |
Distributions to noncontrolling interest | -13 | ' | ' | ' | ' | -13 |
Change in unrealized holding gain on available for sale securities, net of tax | -699 | ' | ' | ' | -699 | ' |
Net income attributable to the noncontrolling interest | 87 | ' | ' | ' | ' | 87 |
Net Income Attributable to Northrim BanCorp | 12,325 | ' | ' | 12,325 | ' | ' |
Ending balance, value at Dec. 31, 2013 | $144,318 | $6,538 | $54,089 | $82,855 | $669 | $167 |
Ending balance, shares at Dec. 31, 2013 | 6,537,652 | 6,538 | ' | ' | ' | ' |
Consolidated_Statement_Of_Cash
Consolidated Statement Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities: | ' | ' | ' |
Net income | $12,412 | $13,458 | $11,827 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' | ' |
Gain on sale of securities, net | -333 | -336 | -419 |
Depreciation and amortization of premises and equipment | 1,793 | 1,674 | 1,719 |
Amortization of software | 180 | 181 | 210 |
Intangible asset amortization | 228 | 252 | 275 |
Amortization of investment security premium, net of discount accretion | 22 | 170 | 143 |
Deferred tax (benefit) liability | 1,215 | 881 | -959 |
Stock-based compensation | 506 | 454 | 519 |
Excess tax benefits from share-based payment arrangements | -100 | -233 | -171 |
Deferral of loan fees and costs, net | 590 | 428 | -168 |
Provision (benefit) for loan losses | -635 | -1,559 | 1,999 |
Reserve for purchased receivables | 100 | 357 | 0 |
Purchases of loans held for sale | -156,521 | -242,535 | -82,915 |
Proceeds from the sale of loans held for sale | 156,925 | 258,652 | 60,662 |
Gain on sale of other real estate owned | -288 | -46 | -889 |
Impairment on other real estate owned | 112 | 469 | 92 |
Equity in undistributed earnings from mortgage affiliate | 200 | -816 | -191 |
Net changes in assets and liabilities: | ' | ' | ' |
(Increase) decrease in accrued interest receivable | -111 | 280 | 503 |
Proceeds From Federal Deposit Insurance Corporation Premium Refunds | 3,405 | 0 | 0 |
(Increase) decrease in other assets | 403 | -1,762 | 2,224 |
(Decrease) increase in other liabilities | -1,455 | 2,580 | 514 |
Net Cash Provided (Used) by Operating Activities | 18,648 | 32,549 | -5,025 |
Investing Activities: | ' | ' | ' |
Purchases of investment securities available for sale | -140,856 | -111,431 | -169,712 |
Proceeds from sales/maturities of securities available for sale | 95,199 | 131,610 | 161,301 |
Proceeds from calls/maturities of securities held to maturity | 535 | 1,065 | 2,300 |
Purchases of domestic certificates of deposit | -13,500 | -11,500 | -12,000 |
Proceeds from maturities of domestic certificates of deposit | 13,500 | 10,000 | 0 |
Proceeds from redemption of FHLB stock | 71 | 36 | 0 |
(Increase) decrease in purchased receivables, net | 2,897 | 10,830 | -13,735 |
(Increase) decrease in loans, net | -66,249 | -59,299 | 24,261 |
Proceeds from sale of other real estate owned | 2,623 | 1,994 | 8,425 |
Investment in other real estate owned | 0 | -98 | -57 |
Decrease in loan to Elliott Cove, net | 0 | 106 | 97 |
Purchases of premises and equipment | -2,209 | -1,589 | -664 |
Net Cash (Used) Provided by Investing Activities | -107,989 | -28,276 | 216 |
Financing Activities: | ' | ' | ' |
Increase in deposits | 33,594 | 58,881 | 19,112 |
Increase in securities sold under repurchase agreements | 2,105 | 2,690 | 3,474 |
Increase (decrease) in borrowings | 2,048 | -147 | -760 |
Distributions to noncontrolling interest | -13 | -471 | -427 |
Excess tax benefits from share-based payment arrangements | 100 | 233 | 171 |
Cash dividends paid | -4,215 | -3,676 | -3,264 |
Net Cash Provided by Financing Activities | 33,619 | 57,510 | 18,306 |
Net Increase (Decrease) in Cash and Cash Equivalents | -55,722 | 61,783 | 13,497 |
Cash and Cash Equivalents at Beginning of Year | 141,313 | 79,530 | 66,033 |
Cash and Cash Equivalents at End of Year | 85,591 | 141,313 | 79,530 |
Supplemental Information: | ' | ' | ' |
Income taxes paid | 3,552 | 6,632 | 4,315 |
Interest paid | 2,035 | 2,510 | 3,792 |
Transfer of loans to other real estate owned | 365 | 1,684 | 2,155 |
Loans made to facilitate sales of other real estate owned | 0 | 300 | 1,825 |
Cash dividends declared but not paid | $42 | $39 | $40 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' | |||||||||
Summary Of Significant Accounting Policies | ' | |||||||||
Summary of Significant Accounting Policies | ||||||||||
Northrim BanCorp, Inc. (the “Company”), is a publicly traded bank holding company and is the parent company of Northrim Bank (the “Bank”), a commercial bank that provides personal and business banking services through locations in Anchorage, Eagle River, Wasilla, and Fairbanks, Alaska, and a factoring division in Bellevue, Washington. Affiliated companies include Northrim Benefits Group, LLC (“NBG”), Residential Mortgage Holding Company, LLC (“RML”), Elliott Cove Capital Management, LLC (“ECCM”), Elliott Cove Insurance Agency, LLC (“ECIA”), and Pacific Wealth Advisors, LLC (“PWA”). | ||||||||||
Method of Accounting: The Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the United States and prevailing practices within the banking industry. The Company utilizes the accrual method of accounting which recognizes income and gains when earned and expenses and losses when incurred. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income, gains, expenses, and losses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the allowance for loan losses (“Allowance”), valuation of goodwill and other intangibles, and valuation of other real estate owned (“OREO”). The consolidated financial statements include the financial information for Northrim BanCorp, Inc. and its wholly-owned subsidiaries that include the Bank, Northrim Building LLC (“NBL”), and Northrim Investment Services Company (“NISC”). All intercompany balances have been eliminated in consolidation. The Company accounts for its investments in RML, ECCM, ECIA, and PWA using the equity method. Noncontrolling interest relates to the minority ownership in NBG. | ||||||||||
Variable interest entities (“VIEs”): The Company consolidates affiliates in which we have a controlling interest. To determine if we have a controlling financial interest in an entity we first evaluate if we are required to apply the variable interest entity model, otherwise the entity is evaluated under the voting interest model. The Company continuously evaluates its non-majority owned investments in affiliates to determine if they are VIEs. Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses, we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. When changes occur to the design of an entity we reconsider whether it is subject to the VIE model. We continuously evaluate whether we have a controlling financial interest in a VIE. We hold a controlling financial interest in other entities where we currently hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through substantive participating rights or as a general partner. Where we are a general partner we consider substantive removal rights held by other partners in determining if we hold a controlling financial interest. We reevaluate whether we have a controlling financial interest in these entities when our voting or substantive participating rights change. | ||||||||||
Affiliates are unconsolidated VIEs and other entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. Affiliates are accounted for as equity method investments. | ||||||||||
The Company owns a 50.1% interest in NBG and consolidates NBG's balance sheet and income statement into its financial statements. | ||||||||||
The Company does not consolidate the balance sheets and income statements of ECCM, ECIA, PWA, or RML into its financial statements. The Company has determined that ECIA, PWA, and RML are not VIEs. The Company has determined that ECCM is a VIE. However, the Company does not have a controlling interest in ECCM and therefore does not consolidate ECCM's balance sheet and income statement into its financial statements. Results of affiliated companies that are not consolidated are presented on a one-line basis. Results of RML are reported in "Equity in earnings from RML", and results of ECCM, ECIA, and PWA are included in "Other income" in our Consolidated Statements of Income. Investments in, and advances to, associated companies are presented on a one-line basis in the caption “Other assets” in our Consolidated Balance Sheets". | ||||||||||
Reclassifications: Certain reclassifications have been made to prior year amounts to maintain consistency with the current year with no impact on net income or total shareholders’ equity. | ||||||||||
Subsequent Events: The Company has evaluated events and transactions subsequent to December 31, 2013 for potential recognition or disclosure. | ||||||||||
Segments: Management has determined that the Company operates as a single operating segment. This determination is based on the fact that management and the board reviews financial information and assesses resource allocation on a consolidated basis. Additionally, the revenue earned through, and total assets of, the insurance brokerage, mortgage lending, and wealth management activities are each less than 10% of the Company’s consolidated total revenue and total assets. | ||||||||||
Cash and Cash Equivalents: For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits with other banks, banker’s acceptances, commercial paper, securities purchased under agreement to resell, federal funds sold, and securities with maturities of less than 90 days at acquisition. | ||||||||||
Investment Securities: Securities available for sale are stated at fair value with unrealized holding gains and losses, net of tax, excluded from earnings and reported as a separate component of other comprehensive income, unless an unrealized loss is deemed other than temporary. Gains and losses on available for sale securities sold are determined on a specific identification basis. | ||||||||||
Held to maturity securities are stated at cost, adjusted for amortization of premium and accretion of discount on a level-yield basis. The Company has the ability and intent to hold these securities to maturity. | ||||||||||
A decline in the market value of any available for sale or held to maturity security below cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. Unrealized investment securities losses are evaluated at least quarterly on a specific identification basis to determine whether such declines in value should be considered "other than temporary" and therefore be subject to immediate loss recognition in income. Although these evaluations involve significant judgment, an unrealized loss in the fair value of a debt security is generally deemed to be temporary when the fair value of the security is below the carrying value primarily due to changes in interest rates and there has not been significant deterioration in the financial condition of the issuer. The Company does not intend to sell, nor is it more likely than not that it will be required to sell, securities whose market value is less than carrying value. Because it is more likely than not that the Company will hold these investments until a market price recovery or maturity, these investments are not considered other than temporarily impaired. Other factors that may be considered in determining whether a decline in the value is "other than temporary" include the financial condition, capital strength, and near-term prospects of the issuer,; actions of commercial banks or other lenders relative to the continued extension of credit facilities to the issuer of the security; recommendations of investment advisors or market analysts; and ratings by recognized rating agencies. | ||||||||||
Federal Home Loan Bank Stock: The Company’s investment in Federal Home Loan Bank (“FHLB”) stock is carried at par value because the shares can only be redeemed with the FHLB at par. The Company is required to maintain a minimum level of investment in FHLB stock based on the Company’s capital stock and lending activity. Stock redemptions are at the discretion of the FHLB or of the Company, upon five years’ prior notice for FHLB Class B stock. FHLB stock is carried at cost and is subject to recoverability testing at least annually. | ||||||||||
Loans held for sale: Loans held for sale include mortgage loans and are reported at the lower of cost or market value. Cost generally approximates market value, given the short duration of these assets. Gains or losses on the sale of loans that are held for sale are recognized at the time of sale and determined by the difference between net sale proceeds and the net book value of the loans. | ||||||||||
Loans: Loans are carried at their principal amount outstanding, net of unamortized fees and direct loan origination costs. Interest income on loans is accrued and recognized on the principal amount outstanding except for loans in a nonaccrual status. All classes of loans are placed on nonaccrual when management believes doubt exists as to the collectability of the interest or principal. Cash payments received on nonaccrual loans are directly applied to the principal balance. Generally, a loan may be returned to accrual status when the delinquent principal and interest is brought current in accordance with the terms of the loan agreement and certain ongoing performance criteria have been met. | ||||||||||
The Company considers a loan to be impaired when it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once a loan is determined to be impaired, the impairment is measured based on the present value of the expected future cash flows discounted at the loan’s effective interest rate, unless the loan is collateral dependent, in which case the impairment is measured by using the fair value of the loan’s collateral. Nonperforming loans greater than $50,000 are individually evaluated for impairment based upon the borrower’s overall financial condition, resources, and payment record, and the prospects for support from any financially responsible guarantors. | ||||||||||
The Company uses either in-house evaluations or external appraisals to estimate the fair value of collateral-dependent impaired loans as of each reporting date. The Company’s determination of which method to use is based upon several factors. The Company takes into account compliance with legal and regulatory guidelines, the amount of the loan, the estimated value of the collateral, the location and type of collateral to be valued, and how critical the timing of completion of the analysis is to the assessment of value. Those factors are balanced with the level of internal expertise, internal experience, and market information available, versus external expertise available such as qualified appraisers, brokers, auctioneers, and equipment specialists. | ||||||||||
The Company uses external appraisals to estimate fair value for projects that are not fully constructed as of the date of valuation. These projects are generally valued as if complete, with an appropriate allowance for cost of completion, including contingencies developed from external sources such as vendors, engineers, and contractors. | ||||||||||
The Company classifies fair value measurements using observable inputs, such as external appraisals, as level 2 valuations in the fair value hierarchy, and fair value measurements with unobservable inputs, such as in-house evaluations, as level 3 valuations in the fair value hierarchy. | ||||||||||
When the fair value measurement of the impaired loan is less than the recorded amount of the loan, an impairment is recognized by recording a charge-off to the Allowance or by designating a specific reserve in accordance with GAAP. The Company’s policy is to record cash payments received on impaired loans that are not also nonaccrual loans in the same manner that cash payments are applied to performing loans. | ||||||||||
A loan is classified as a troubled debt restructuring ("TDR") when a borrower is experiencing financial difficulties that lead to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include interest rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. Generally, a nonaccrual loan that is restructured remains on nonaccrual status for a period of at least six months to demonstrate that the borrower can meet the restructured terms. If the borrower's performance under the new terms is not reasonably assured, the loan remains classified as a nonaccrual loan. | ||||||||||
Loan origination fees received in excess of direct origination costs are deferred and accreted to interest income using a method approximating the level-yield method over the life of the loan. | ||||||||||
Allowance for Loan Losses: The Company maintains an Allowance to reflect inherent losses from its loan portfolio. The Allowance is decreased by loan charge-offs and increased by loan recoveries and provisions for loan losses. The Company has identified the following segments: commercial, real estate construction one-to-four family, real estate construction other, real estate term owner occupied, real estate term non-owner occupied, real estate term other, consumer loans secured by 1st deeds of trust, and other consumer loans. Then the Company further disaggregates each segment into the following classes, which are also known as asset quality ratings: pass, special mention, substandard, doubtful, and loss. | ||||||||||
In determining its total Allowance, the Company first estimates a specific allocated allowance for impaired loans. This analysis is based upon a specific analysis for each impaired loan, including appraisals and in-house evaluations on loans secured by real property, management’s assessment of the current market, recent payment history, and an evaluation of other sources of repayment. | ||||||||||
The Company then estimates a general allocated allowance for all other loans that were not impaired as of the balance sheet date using a formula-based approach that includes average historical loss factors that are adjusted for quantitative and qualitative factors. Qualitative factors are based on management’s assessment of current trends that may cause losses inherent in the current loan portfolio to differ significantly from historical losses. | ||||||||||
Finally, the Company assesses the overall adequacy of the Allowance based on several factors including the level of the Allowance as compared to total loans and nonperforming loans in light of current economic conditions. This portion of the Allowance is deemed “unallocated” because it is not allocated to any segment or class of the loan portfolio. This portion of the Allowance provides for coverage of credit losses inherent in the loan portfolio but not captured in the credit loss factors that are utilized in the risk rating-based component, or in the specific impairment component of the Allowance, and it acknowledges the inherent imprecision of all loss prediction models. Due to the subjectivity involved in the determination of the unallocated portion of the Allowance, the relationship of the unallocated component to the total Allowance may fluctuate from period to period. | ||||||||||
Based on our methodology and its components, management believes the resulting Allowance is adequate and appropriate for the risk identified in the Company's loan portfolio. While management believes that it uses the best information available to determine the Allowance, unforeseen market conditions and other events could result in adjustment to the Allowance, and net income could be significantly affected if circumstances differed substantially from the assumptions used in making the final determination. Our banking regulators, as an integral part of their examination process, periodically review the Company's Allowance. Our regulators may require the Company to recognize additions to the Allowance based on their judgments related to information available to them at the time of their examinations. | ||||||||||
Reserve for Unfunded Loan Commitments and Letters of Credit: The Company maintains a separate reserve for losses related to unfunded loan commitments and letters of credit. The determination of the adequacy of the reserve is based on periodic evaluations of the unfunded credit facilities including assessment of historical losses and current economic conditions. The allowance for unfunded loan commitments and letters of credit is included in other liabilities on the consolidated balance sheets, with changes to the balance charged against noninterest expense. | ||||||||||
Purchased Receivables: The Bank purchases accounts receivable at a discount from its customers. The purchased receivables are carried at cost. The discount and fees charged to the customer are earned while the balances of the purchases are outstanding, which is typically less than one year. The Company maintains a separate reserve for losses related to purchased receivable assets. The determination of the adequacy of the reserve is based on periodic evaluations of purchased receivable assets including an assessment of historical losses and current economic conditions. The reserve for purchased receivable assets is included in the balance of these accounts on a net basis on the consolidated balance sheets, with changes to the balance charged against noninterest expense. | ||||||||||
Premises and Equipment: Premises and equipment, including leasehold improvements, are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization expense for financial reporting purposes is computed using the straight-line method based upon the shorter of the lease term or the estimated useful lives of the assets that vary according to the asset type and include; furniture and equipment ranging between 3 and 7 years, leasehold improvements ranging between 2 and 15 years, and buildings over 39 years. Maintenance and repairs are charged to current operations, while renewals and betterments are capitalized. Long-lived assets such as premises and equipment are reviewed for impairment at least annually or whenever events or changes in business circumstances indicate that the remaining useful life may warrant revision, or that the carrying amount of the long-lived asset may not be fully recoverable. If impairment is determined to exist, any related impairment loss is calculated based on fair value. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal. | ||||||||||
Intangible Assets: In 2007, the Company recorded $1.8 million of goodwill and $1.3 million of core deposit intangible ("CDI") as part of the acquisition of Alaska First Bank & Trust, N.A. (“Alaska First”) stock. The Company amortizes the Alaska First CDI over its estimated useful life of ten years using an accelerated method. Accumulated amortization related to the Alaska First CDI was $1.1 million, $983,000, and $846,000 at December 31, 2013, 2012 and 2011, respectively. Management reviews goodwill at least annually for impairment by reviewing a number of key market indicators. Finally, the Company recorded $1.1 million in intangible assets related to customer relationships purchased in the acquisition of an additional 40.1% of NBG in December 2005. The Company amortizes this intangible over its estimated life of ten years. Accumulated amortization related to the NBG intangible asset was $943,000, $829,000, and $714,000 at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Other Real Estate Owned: Other real estate owned represents properties acquired through foreclosure or its equivalent. Prior to foreclosure, the carrying value is adjusted to the fair value, less cost to sell, of the real estate to be acquired by an adjustment to the Allowance. Management’s evaluation of fair value is based on appraisals or discounted cash flows of anticipated sales. The amount by which the fair value less cost to sell is greater than the carrying amount of the loan plus amounts previously charged off is recognized in earnings. Any subsequent reduction in the carrying value is charged against earnings. Operating expenses associated with other real estate owned are charged to earnings in the period they are incurred. | ||||||||||
Low Income Housing Tax Credit Partnerships: The Company’s investments in five low-income housing partnerships are included in other assets. These partnerships are all Delaware limited partnerships and include Centerline Corporate Partners XXII, L.P. (“Centerline XXII”) Centerline Corporate Partners XXXIII, L.P. (“Centerline XXXIII”), U.S.A. Institutional Tax Credit Fund LVII L.P. (“USA 57”), WNC Institutional Tax Credit Fund 37 L.P. (“WNC”), and R4 Frontier Housing Partners L.P. ("R4"). The Company earns a return on its investments in the form of tax credits and deductions that flow through to it as a limited partner in these partnerships. The Company amortizes these investments in other operating expense over the period during which tax credits are used. | ||||||||||
Other Assets: Other assets include purchased software and prepaid expenses. Purchased software is carried at amortized cost and is amortized using the straight-line method over its estimated useful life or the term of the agreement. Also included in other assets is the net deferred tax asset and the Company’s investments in NBG, RML, ECCM, ECIA, and PWA. All of these entities are affiliates of the Company. The Company includes the income and loss from its affiliates in its financial statements on a one month lagged basis. | ||||||||||
Derivatives: The Bank enters into interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net risk exposure. The Company recognizes all derivatives as either assets or liabilities in the balance sheet and requires measurement of those instruments at fair value through adjustments to current earnings. The Company offsets fair value adjustments recorded in current earnings. None of the Company’s derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, and the Company reports changes in fair values of its derivatives in current period net income. | ||||||||||
Transfers or sales of financial assets: For transfers of financial assets recorded as sales, we recognize and initially measure at fair value all assets obtained and liabilities incurred. We record a gain or loss in noninterest income for the difference between the carrying amount and the fair value of the assets sold. Fair values are based on quoted market prices, quoted market prices for similar assets, or if market prices are not available, then the fair value is estimated using discounted cash flow analyses with assumptions for credit losses, prepayments and discount rates that are corroborated by and verified against market observable data, where possible. | ||||||||||
Advertising: Advertising, promotion and marketing costs are expensed as incurred. The Company reported total expenses in these areas of $1.9 million, $2.0 million, and $1.8 million for each of the periods ending December 31, 2013, 2012, and 2011. | ||||||||||
Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the future consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||
Earnings Per Share: Earnings per share is calculated using the weighted average number of shares and dilutive common stock equivalents outstanding during the period. Stock options and restricted stock units, as described in Note 19, are considered to be common stock equivalents. Potentially dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were no anti-dilutive shares outstanding related to options to acquire common stock in 2013, 2012 or 2011. | ||||||||||
Information used to calculate earnings per share was as follows: | ||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||
Net income | $12,325 | $12,946 | $11,398 | |||||||
Basic weighted average common shares outstanding | 6,519 | 6,477 | 6,439 | |||||||
Dilutive effect of potential common shares from awards granted under equity incentive program | 91 | 98 | 116 | |||||||
Total | 6,610 | 6,575 | 6,555 | |||||||
Earnings per common share | ||||||||||
Basic | $1.89 | $2.00 | $1.77 | |||||||
Dilutive | $1.87 | $1.97 | $1.74 | |||||||
Stock Incentive Plans: The Company accounts for its stock incentive plans using a fair-value-based method of accounting for stock-based employee compensation plans. The Company has elected the modified prospective method for recognition of compensation cost associated with stock-based employee compensation awards. The Company amortizes stock-based compensation expense over the vesting period of each award. | ||||||||||
Comprehensive Income: Comprehensive income consists of net income and net unrealized gains (losses) on securities available for sale after tax effect and is presented in the consolidated statements of shareholders’ equity and comprehensive income. | ||||||||||
Concentrations: Substantially all of the Company’s business is derived from the Anchorage, Matanuska-Susitna Valley, and Fairbanks areas of Alaska. As such, the Company’s growth and operations depend upon the economic conditions of Alaska and these specific markets. These areas rely primarily upon the natural resources industries, particularly oil production, as well as tourism, government and U.S. military spending for their economic success. A significant majority of the unrestricted revenues of the Alaska state government are currently funded through various taxes and royalties on the oil industry. The Company’s business is and will remain sensitive to economic factors that relate to these industries and local and regional business conditions. As a result, local or regional economic downturns, or downturns that disproportionately affect one or more of the key industries in regions served by the Company, may have a more pronounced effect upon its business than they might on an institution that is less geographically concentrated. The extent of the future impact of these events on economic and business conditions cannot be predicted; however, prolonged or acute fluctuations could have a material and adverse impact upon the Company’s results of operation and financial condition. | ||||||||||
At December 31, 2013 and 2012, the Company had $363.1 million and $327.1 million, respectively, in commercial and construction loans in Alaska. Additionally, the Company continues to have a concentration in large borrowing relationships. At December 31, 2013, 44% of the Company’s loan portfolio is attributable to 22 large borrowing relationships. The Company has additional unfunded commitments to these borrowers of $128.9 million at December 31, 2013. | ||||||||||
Recent Accounting Pronouncements | ||||||||||
In July 2012, the FASB issued ASU No. 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment. With the Update, a company testing indefinite-lived intangibles for impairment now has the option to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount in accordance with current guidance. An entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. | ||||||||||
In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The Update clarifies that ASU. 2011-11 applies only to derivatives, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset or subject to an enforceable master netting arrangement or similar agreement. Entities with other types of financial assets and financial liabilities subject to a master netting arrangement or similar agreement are no longer subject to the disclosure requirements in ASU. 2011-11. The amendments are effective for annual and interim reporting periods beginning on or after January 1, 2013. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. | ||||||||||
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU No. 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component and to present either on the face of the statement where net income is presented, or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2012. The adoption of ASU No. 2013-02 did not have a material impact on the Company's consolidated financial statements. | ||||||||||
In July 2013, the FASB issued ASU No. 2013-10, Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. ASU No. 2013-10 permits the use of the Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark interest rate for hedge account purposes. The amendment is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of ASU No. 2013-10 did not have a material impact on the Company's consolidated financial statements. | ||||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU No. 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2013 and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of ASU No. 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. | ||||||||||
In January 2014, the FASB issued ASU No. 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. ASU 2014-04 permit an entity to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2014 and should be applied prospectively. The Company is currently reviewing the requirements of ASU No. 2014-01, but does not expect the ASU to have a material impact on the Company's consolidated financial statements. | ||||||||||
In January 2014, the FASB issued ASU No. 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon foreclosure. ASU 2014-04 clarifies that if an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2014 and can be applied with a modified retrospective transition method or prospectively. The adoption of ASU No. 2014-04 is not expected to have a material impact on the Company's consolidated financial statements. |
Cash_And_Due_From_Banks
Cash And Due From Banks | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Due from Banks [Abstract] | ' |
Cash And Due From Banks | ' |
Cash and Due from Banks | |
The Company is required to maintain a $500,000 minimum average daily balance with the Federal Reserve Bank for purposes of settling financial transactions and charges for Federal Reserve Bank services. The Company is also required to maintain cash balances or deposits with the Federal Reserve Bank sufficient to meet its statutory reserve requirements. The average reserve requirement for the maintenance period, which included December 31, 2013, was $0. | |
As discussed in Note 1 of the Notes to Consolidated Financial Statements, cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits with other banks, banker’s acceptances, commercial paper, securities purchased under agreement to resell, federal funds sold, and securities with maturities of less than 90 days at acquisition. Accordingly, domestic certificates of deposit with maturities of greater than 90 days totaling $13.5 million, $13.5 million, and $12.0 million at December 31, 2013, 2012, and 2011 respectively, have been excluded from cash and cash equivalents in the Statement of Cash Flows. |
Interest_Bearing_Deposits_In_O
Interest Bearing Deposits In Other Banks | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Interest Bearing Deposits In Other Banks [Abstract] | ' | |||||||
Interest Bearing Deposits In Other Banks | ' | |||||||
Interest Bearing Deposits in Other Banks | ||||||||
All interest bearing deposits in other banks have a maturity of one year or less. Balances at December 31 for the respective years are as follows: | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Interest bearing deposits at Federal Reserve Bank (FRB) | $51,923 | $90,224 | ||||||
Interest bearing deposits at Federal Home Loan Bank (FHLB) | 329 | 144 | ||||||
Domestic certificates of deposit at other institutions | 13,500 | 13,500 | ||||||
Other interest bearing deposits at other institutions | 227 | 10,111 | ||||||
Total | $65,979 | $113,979 | ||||||
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||
Investment Securities | |||||||||||||||||||
The carrying values and approximate fair values of investment securities at the periods indicated are presented below: | |||||||||||||||||||
(In Thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||
December 31, 2013 | |||||||||||||||||||
Securities available for sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $168,922 | $103 | $323 | $168,702 | |||||||||||||||
Municipal securities | 19,825 | 378 | 54 | 20,149 | |||||||||||||||
U.S. Agency mortgage-backed securities | 25 | — | — | 25 | |||||||||||||||
Corporate bonds | 55,798 | 1,000 | 20 | 56,778 | |||||||||||||||
Preferred stock | 2,999 | 35 | — | 3,034 | |||||||||||||||
Total securities available for sale | $247,569 | $1,516 | $397 | $248,688 | |||||||||||||||
Securities held to maturity | |||||||||||||||||||
Municipal securities | $2,208 | $153 | $— | $2,361 | |||||||||||||||
Total securities held to maturity | $2,208 | $153 | $— | $2,361 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||
Securities available for sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $123,959 | $455 | $— | $124,414 | |||||||||||||||
Municipal securities | 21,124 | 613 | 9 | 21,728 | |||||||||||||||
U.S. Agency mortgage-backed securities | 35 | 1 | — | 36 | |||||||||||||||
Corporate bonds | 52,951 | 1,081 | 50 | 53,982 | |||||||||||||||
Preferred stock | 3,524 | 234 | — | 3,758 | |||||||||||||||
Total securities available for sale | $201,593 | $2,384 | $59 | $203,918 | |||||||||||||||
Securities held to maturity | |||||||||||||||||||
Municipal securities | $2,749 | $229 | $— | $2,978 | |||||||||||||||
Total securities held to maturity | $2,749 | $229 | $— | $2,978 | |||||||||||||||
Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
Less Than 12 Months | More Than 12 Months | Total | |||||||||||||||||
(In Thousands) | Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||
Value | Value | Value | |||||||||||||||||
2013:00:00 | |||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $122,560 | $323 | $— | $— | $122,560 | $323 | |||||||||||||
Municipal Securities | 5,613 | 54 | — | — | 5,613 | 54 | |||||||||||||
Corporate Bonds | 6,051 | 20 | — | — | 6,051 | 20 | |||||||||||||
Total | $134,224 | $397 | $— | $— | $134,224 | $397 | |||||||||||||
2012:00:00 | |||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||
Municipal Securities | $1,265 | $9 | $— | $— | $1,265 | $9 | |||||||||||||
Corporate Bonds | 9,541 | 50 | — | — | 9,541 | 50 | |||||||||||||
Total | $10,806 | $59 | $— | $— | $10,806 | $59 | |||||||||||||
The unrealized losses on investments in government sponsored entities, corporate bonds and municipal securities in both periods were caused by changes in interest rates. At December 31, 2013 and 2012, there were twenty-six and six available-for-sale securities in an unrealized loss position, respectively, that have been in a loss position for less than twelve months. There were no securities with unrealized losses at December 31, 2013 and 2012 that have been at a loss position for more than twelve months. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost of the investment. Because it is more likely than not that the Company will hold these investments until a market price recovery or maturity, these investments are not considered other-than-temporarily impaired. | |||||||||||||||||||
At December 31, 2013 and 2012, $46.8 million and $42.7 million in securities were pledged for deposits and borrowings, respectively. | |||||||||||||||||||
The amortized cost and fair values of debt securities at December 31, 2013, are distributed by contractual maturity as shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Although preferred stock has no stated maturity, it is aggregated in the calculation of weighted average yields presented below in the category of investments that mature in ten years or more. | |||||||||||||||||||
(In Thousands) | Amortized Cost | Fair Value | Weighted Average Yield | ||||||||||||||||
US Treasury and government sponsored entities | |||||||||||||||||||
Within 1 year | $26,034 | $26,071 | 0.98 | % | |||||||||||||||
1-5 years | 142,888 | 142,631 | 0.76 | % | |||||||||||||||
Total | $168,922 | $168,702 | 0.79 | % | |||||||||||||||
U.S. Agency mortgage-backed securities | |||||||||||||||||||
5-10 years | $25 | $25 | 4.15 | % | |||||||||||||||
Total | $25 | $25 | 4.15 | % | |||||||||||||||
Corporate bonds | |||||||||||||||||||
Within 1 year | $5,198 | $5,200 | 1.08 | % | |||||||||||||||
1-5 years | 48,600 | 49,597 | 1.68 | % | |||||||||||||||
5-10 years | 2,000 | 1,981 | 1.04 | % | |||||||||||||||
Total | $55,798 | $56,778 | 1.6 | % | |||||||||||||||
Preferred stock | |||||||||||||||||||
Over 10 years | $2,999 | $3,034 | 5.61 | % | |||||||||||||||
Total | $2,999 | $3,034 | 5.61 | % | |||||||||||||||
Municipal securities | |||||||||||||||||||
Within 1 year | $6,335 | $6,353 | 1.52 | % | |||||||||||||||
1-5 years | 10,296 | 10,420 | 2.84 | % | |||||||||||||||
5-10 years | 5,402 | 5,737 | 4.78 | % | |||||||||||||||
Total | $22,033 | $22,510 | 2.93 | % | |||||||||||||||
The proceeds and resulting gains and losses, computed using specific identification, from sales of investment securities for the years ending December 31, 2013, 2012, and 2011, respectively, are as follows: | |||||||||||||||||||
(In Thousands) | Proceeds | Gross Gains | Gross Losses | ||||||||||||||||
2013 | |||||||||||||||||||
Available for sale securities | $23,514 | $333 | $— | ||||||||||||||||
2012 | |||||||||||||||||||
Available for sale securities | $35,466 | $336 | $— | ||||||||||||||||
2011 | |||||||||||||||||||
Available for sale securities | $21,382 | $419 | $— | ||||||||||||||||
A summary of interest income for the years ending December 31, 2013, 2012, and 2011 on available for sale investment securities is as follows: | |||||||||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
US Treasury and government sponsored entities | $898 | $941 | $1,637 | ||||||||||||||||
U.S. Agency mortgage-backed securities | 1 | 2 | 3 | ||||||||||||||||
Other | 1,136 | 1,280 | 951 | ||||||||||||||||
Total taxable interest income | $2,035 | $2,223 | $2,591 | ||||||||||||||||
Municipal securities | $568 | $573 | $506 | ||||||||||||||||
Total tax-exempt interest income | $568 | $573 | $506 | ||||||||||||||||
Total | $2,603 | $2,796 | $3,097 | ||||||||||||||||
Loans_Held_For_Sale
Loans Held For Sale | 12 Months Ended |
Dec. 31, 2013 | |
Loans and Leases Receivable Disclosure [Abstract] | ' |
Loans Held For Sale | ' |
Loans Held for Sale | |
The Company purchases residential loans from our mortgage affiliate, RML. The Company then sells these loans in the secondary market. The Company purchased $156.5 million and sold $156.9 million in loans in 2013. The Company purchased $242.5 million and sold $258.7 million in loans in 2012. |
Loans
Loans | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||||||||
The composition of the loan portfolio as of the periods indicated is as follows: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
Dollar Amount | Percent of Total | Dollar Amount | Percent of Total | |||||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Commercial | $300,338 | 39 | % | $273,432 | 38.8 | % | ||||||||||||||||||||||||||||||
Real estate construction one-to-four family | 30,161 | 3.9 | % | 32,573 | 4.6 | % | ||||||||||||||||||||||||||||||
Real estate construction other | 32,599 | 4.2 | % | 21,061 | 3 | % | ||||||||||||||||||||||||||||||
Real estate term owner occupied | 91,098 | 11.8 | % | 78,107 | 11.1 | % | ||||||||||||||||||||||||||||||
Real estate term non-owner occupied | 255,324 | 33.2 | % | 234,643 | 33.3 | % | ||||||||||||||||||||||||||||||
Real estate term other | 29,976 | 3.9 | % | 31,809 | 4.5 | % | ||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust | 16,483 | 2.1 | % | 17,714 | 2.5 | % | ||||||||||||||||||||||||||||||
Consumer other | 18,058 | 2.3 | % | 18,305 | 2.6 | % | ||||||||||||||||||||||||||||||
Subtotal | $774,037 | $707,644 | ||||||||||||||||||||||||||||||||||
Less: Unearned origination fee, | ||||||||||||||||||||||||||||||||||||
net of origination costs | (4,021 | ) | (0.5 | )% | (3,431 | ) | (0.5 | )% | ||||||||||||||||||||||||||||
Total loans | $770,016 | $704,213 | ||||||||||||||||||||||||||||||||||
The Company’s primary market areas are Anchorage, the Matanuska-Susitna Valley, and Fairbanks, Alaska, where the majority of its lending has been with Alaska businesses and individuals. At December 31, 2013, approximately 71% of the Company’s loans are secured by real estate, and approximately 29% are for general commercial uses, including professional, retail, and small businesses. Substantially all of these loans are collateralized and repayment is expected from the borrowers’ cash flow or, secondarily, the collateral. The Company’s exposure to credit loss, if any, is the outstanding amount of the loan if the collateral is proved to be of no value. | ||||||||||||||||||||||||||||||||||||
As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends in past due and nonaccrual loans, gross and net charge offs, and movement in loan balances within the risk classifications. The Company utilizes a loan risk grading system called the Asset Quality Rating (“AQR”) system to assign a risk classification to each of its loans. Loans are graded on a scale of 1 to 10 and, loans graded 1 – 6 are considered “pass” grade loans. A description of the general characteristics of the AQR risk classifications are as follows: | ||||||||||||||||||||||||||||||||||||
Pass grade loans – 1 through 6: The borrower demonstrates sufficient cash flow to fund debt service, including acceptable profit margins, cash flows, liquidity and other balance sheet ratios. Historic and projected performance indicates that the borrower is able to meet obligations under most economic circumstances. The company has competent management with an acceptable track record. The category does not include loans with undue or unwarranted credit risks that constitute identifiable weaknesses. | ||||||||||||||||||||||||||||||||||||
Special Mention – 7: A "special mention" credit has weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of either the repayment prospects for the asset or the Bank's credit position at some future date. Special mention assets are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. Loans are currently protected, but are weak due to negative trends in the balance sheet and income statement. Current cash flow may be insufficient to meet debt service, with prospects that the condition may not be temporary. Profitability and key balance sheet ratios are below peers. There is a lack of effective control over collateral or there are documentation deficiencies as well as a potential risk of payment default. Collateral coverage is minimal in gross dollars or due to quality issues. Financial information may be inadequate to show the recent condition of borrower. The loan would not be approved as a new credit, and new loans would not be granted. Management may not be adequately qualified or may have very limited prior experience with similar activities or markets. The ability of management to cope with current conditions is questionable. Internal conflict and turnover in key positions may be present. Succession is unclear. The borrower's asset quality is below average. The capital base may be insufficient to cover capital losses. Leverage is above average or increasing. The industry outlook is generally negative but there are reasonable expectations of a turnaround within 12-18 months. The firm may be new, resulting in competitive deficiencies in comparison to the older, more established firms in the industry. Over-capacity may be evident in the industry. Collateral and guarantor strength are comparable to Management Attention-6, but agings and certifications of accounts receivable and inventory are required and are not being provided on a regular basis. | ||||||||||||||||||||||||||||||||||||
Substandard – 8: A "substandard" credit is inadequately protected by the current sound worth and paying capacity of the obligor or by the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loans have well-defined weaknesses where a payment default and/or a loss are possible, but not yet probable. Cash flow is insufficient to service debt, with prospects that the condition is permanent. Assets classified as substandard are inadequately protected by the current net worth and paying capacity of the borrower, and there is a likelihood that collateral will have to be liquidated and/or the guarantor called upon to repay the debt. Generally, the loan is considered collectible as to both principal and interest, primarily because of collateral coverage. Loan(s) may have been restructured at less than market terms or have been partially charged off. If deficiencies are not corrected quickly, there is a probability of loss and the borrower’s ability to operate as a going concern may be deemed questionable/is questionable. Management has no prior experience with similar activities, demonstrating inability to realistically address problems and meet commitments. The borrower’s asset quality is poor. The capital base is weak and insufficient to absorb continuing losses, and leverage is significantly above peers. Liquidity is poor with significant reliance on short-term borrowing to support trade debt. Key balance sheet ratios are substantially inferior to industry norms. The industry is currently trending downward or demonstrating recovery from an adverse cycle. The outlook is generally negative at this time. Timing of recovery is unclear, but expectations are that market conditions will improve within 18-24 months. The borrower has substantial competitive deficiencies when compared to other firms, such as excess capacity and over-supply, resulting in frequent and significant concessions and discounting. Business failures are prevalent. Collateral coverage is marginal or non-existent. Collateral may be located outside the borrower’s market area. There are no agings or certifications of accounts receivable and inventory being received from the borrower, and collateral has doubtful marketability/convertibility. If guaranteed, the guarantor has limited outside worth and is highly leveraged with a poor credit report, which may reflect liens, collection problems, or lawsuits. | ||||||||||||||||||||||||||||||||||||
Doubtful – 9: An asset classified "doubtful" has all the weaknesses inherent in one that is classified "substandard-8" with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. The loan has substandard characteristics, and available information suggests that it is unlikely that the loan will be repaid in its entirety. Cash flow is insufficient to service debt. The company has had a series of substantial losses. If the current material adverse trends continue, it is unlikely the borrower will have the ability to meet the terms of the loan agreement. It may be difficult to predict the exact amount of loss, but the probability of some loss is greater than 50%. Loans are to be placed on non-accrual status when any portion is classified as doubtful. Non-accrual loans would not be classified "doubtful" as long as the collateral appears adequate to retire the outstanding balance. Management is clearly unable to address problems and meet commitments, and there is little expectation either of improvement or for sustaining the relationship with current management. The company is highly illiquid with excessive leverage. Key balance sheet ratios are at unacceptable levels, and downturn is severe. Timing of recovery is undeterminable. The company is unable to compete; collateral and guarantees provide limited support. | ||||||||||||||||||||||||||||||||||||
Loss – 10: An asset classified "loss" is considered uncollectible and of such little value that its continuance on the books is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may be affected in the future. The loan has doubtful characteristics, but the loan will definitely not be repaid in full. Debt service coverage clearly reflects the company's inability to service debt. The borrower cannot generate sufficient cash flow to cover fixed charges. All near-term and long-term trends concerning cash flow and earnings are negative. The damage to the financial condition of the company cannot be reversed at this point in time. Collateral and guarantees provide no support. | ||||||||||||||||||||||||||||||||||||
The loan portfolio segmented by risk class at December 31, 2013 and 2012, respectively, is shown below: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deeds of trust | Consumer other | Total | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $293,803 | $28,227 | $31,633 | $84,191 | $251,384 | $28,684 | $15,877 | $17,694 | $751,493 | |||||||||||||||||||||||||||
AQR Special Mention | 6,022 | 1,934 | 966 | 6,235 | 2,620 | — | 397 | 196 | 18,370 | |||||||||||||||||||||||||||
AQR Substandard | 513 | — | — | 672 | 1,320 | 1,292 | 209 | 168 | 4,174 | |||||||||||||||||||||||||||
AQR Doubtful | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
AQR Loss | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | $300,338 | $30,161 | $32,599 | $91,098 | $255,324 | $29,976 | $16,483 | $18,058 | $774,037 | |||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (4,021 | ) | ||||||||||||||||||||||||||||||||||
Total loans | $770,016 | |||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $265,562 | $28,780 | $21,061 | $73,985 | $230,010 | $28,304 | $16,911 | $17,817 | $682,430 | |||||||||||||||||||||||||||
AQR Special Mention | 6,064 | 1,282 | — | 2,522 | 2,546 | 126 | 620 | 238 | 13,398 | |||||||||||||||||||||||||||
AQR Substandard | 1,597 | 2,511 | — | 1,600 | 2,087 | 3,379 | 183 | 250 | 11,607 | |||||||||||||||||||||||||||
AQR Doubtful | 189 | — | — | — | — | — | — | — | 189 | |||||||||||||||||||||||||||
AQR Loss | 20 | — | — | — | — | — | — | — | 20 | |||||||||||||||||||||||||||
Subtotal | $273,432 | $32,573 | $21,061 | $78,107 | $234,643 | $31,809 | $17,714 | $18,305 | $707,644 | |||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (3,431 | ) | ||||||||||||||||||||||||||||||||||
Total loans | $704,213 | |||||||||||||||||||||||||||||||||||
Loans are carried at their principal amount outstanding, net of charge-offs, unamortized fees and direct loan origination costs. Loan balances are charged-off to the Allowance when management believes that collection of principal is unlikely. Interest income on loans is accrued and recognized on the principal amount outstanding except for loans in a nonaccrual status. All classes of loans are placed on nonaccrual and considered impaired when management believes doubt exists as to the collectability of the interest or principal. Cash payments received on nonaccrual loans are directly applied to the principal balance. Generally, a loan may be returned to accrual status when the delinquent principal and interest is brought current in accordance with the terms of the loan agreement. Additionally, certain ongoing performance criteria, which generally includes a performance period of six months, must be met in order for a loan to be returned to accrual status. Loans are reported as past due when installment payments, interest payments, or maturity payments are past due based on contractual terms. | ||||||||||||||||||||||||||||||||||||
Nonaccrual loans totaled $1.8 million and $4.5 million December 31, 2013 and December 31, 2012, respectively. Interest income which would have been earned on nonaccrual loans for 2013, 2012, and 2011 amounted to $188,000, $453,000, and $734,000, respectively. Additionally, the Company recognized interest income of $250,000, $344,000, and $270,000 in 2013, 2012, and 2011, respectively, related to interest collected on nonaccrual loans whose principal has been paid down to zero. Nonaccrual loans at the periods indicated, by segment are presented below: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
Commercial | $222 | $1,214 | ||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family | — | 1,264 | ||||||||||||||||||||||||||||||||||
Real estate construction other | — | — | ||||||||||||||||||||||||||||||||||
Real estate term owner occupied | — | — | ||||||||||||||||||||||||||||||||||
Real estate term non-owner occupied | 151 | 185 | ||||||||||||||||||||||||||||||||||
Real estate term other | 1,136 | 1,451 | ||||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust | 187 | 183 | ||||||||||||||||||||||||||||||||||
Consumer other | 119 | 234 | ||||||||||||||||||||||||||||||||||
Total | $1,815 | $4,531 | ||||||||||||||||||||||||||||||||||
There were no past due loans greater than 90 days and still accruing interest at December 31, 2013 and 2012, respectively. Past due loans and nonaccrual loans at the periods indicated are presented below by loan class: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | 30-59 Days | 60-89 Days | Greater Than | Nonaccrual | Total Past | Current | Total | |||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | |||||||||||||||||||||||||||||||||
Still | Still | Still | ||||||||||||||||||||||||||||||||||
Accruing | Accruing | Accruing | ||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $672 | $— | $— | $127 | $799 | $750,694 | $751,493 | |||||||||||||||||||||||||||||
AQR Special Mention | 385 | — | — | — | 385 | 17,985 | 18,370 | |||||||||||||||||||||||||||||
AQR Substandard | — | — | — | 1,688 | 1,688 | 2,486 | 4,174 | |||||||||||||||||||||||||||||
AQR Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
AQR Loss | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Subtotal | $1,057 | $— | $— | $1,815 | $2,872 | $771,165 | $774,037 | |||||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (4,021 | ) | ||||||||||||||||||||||||||||||||||
Total | $770,016 | |||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $401 | $— | $— | $— | $401 | $682,029 | $682,430 | |||||||||||||||||||||||||||||
AQR Special Mention | 534 | — | — | 596 | 1,130 | 12,268 | 13,398 | |||||||||||||||||||||||||||||
AQR Substandard | — | — | — | 3,726 | 3,726 | 7,881 | 11,607 | |||||||||||||||||||||||||||||
AQR Doubtful | — | — | — | 189 | 189 | — | 189 | |||||||||||||||||||||||||||||
AQR Loss | — | — | — | 20 | 20 | — | 20 | |||||||||||||||||||||||||||||
Subtotal | $935 | $— | $— | $4,531 | $5,466 | $702,178 | $707,644 | |||||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (3,431 | ) | ||||||||||||||||||||||||||||||||||
Total | $704,213 | |||||||||||||||||||||||||||||||||||
The Company considers a loan to be impaired when it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once a loan is determined to be impaired, the impairment is measured based on the present value of the expected future cash flows discounted at the loan’s effective interest rate, except that if the loan is collateral dependent, the impairment is measured by using the fair value of the loan’s collateral. Nonperforming loans greater than $50,000 are individually evaluated for impairment based upon the borrower’s overall financial condition, resources, and payment record, and the prospects for support from any financially responsible guarantors. | ||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the recorded investment in loans that are considered to be impaired was $8.8 million and $13.1 million, respectively. The following table presents information about impaired loans by class for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $181 | $181 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 314 | 314 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 343 | 488 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 353 | 353 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 1,686 | 1,686 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 834 | 834 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR pass | 512 | 512 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR special mention | 484 | 484 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR substandard | 672 | 672 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR special mention | 786 | 786 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR substandard | 955 | 955 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,292 | 1,571 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 88 | 88 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 65 | 65 | — | |||||||||||||||||||||||||||||||||
Subtotal | $8,565 | $8,989 | $— | |||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | $186 | $186 | $11 | |||||||||||||||||||||||||||||||||
Subtotal | $186 | $186 | $11 | |||||||||||||||||||||||||||||||||
Commercial - AQR pass | $181 | $181 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 314 | 314 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 343 | 488 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 353 | 353 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 1,686 | 1,686 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 834 | 834 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR pass | 512 | 512 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR special mention | 484 | 484 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR substandard | 672 | 672 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 786 | 786 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 955 | 955 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,292 | 1,571 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 88 | 88 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | 186 | 186 | 11 | |||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 65 | 65 | — | |||||||||||||||||||||||||||||||||
Total | $8,751 | $9,175 | $11 | |||||||||||||||||||||||||||||||||
(In Thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $53 | $53 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 332 | 332 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 981 | 1,064 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 470 | 470 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,748 | 2,748 | ||||||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1,083 | 1,083 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 555 | 555 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 1,705 | 1,705 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | 126 | 205 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 3,379 | 3,659 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 93 | 93 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR doubtful | 158 | 240 | — | |||||||||||||||||||||||||||||||||
Subtotal | $11,683 | $12,207 | $— | |||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR substandard | $427 | $427 | $284 | |||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 189 | 189 | 160 | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | 794 | 794 | 215 | |||||||||||||||||||||||||||||||||
Subtotal | $1,410 | $1,410 | $659 | |||||||||||||||||||||||||||||||||
Commercial - AQR pass | $53 | $53 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 332 | 332 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 1,408 | 1,491 | 284 | |||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 189 | 189 | 160 | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 470 | 470 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | 794 | 794 | 215 | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,748 | 2,748 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1,083 | 1,083 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 555 | 555 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 1,705 | 1,705 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | 126 | 205 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 3,379 | 3,659 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 93 | 93 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR doubtful | 158 | 240 | — | |||||||||||||||||||||||||||||||||
Total | $13,093 | $13,617 | $659 | |||||||||||||||||||||||||||||||||
The unpaid principal balance included in the table above represents the recorded investment at the dates indicated, plus amounts charged off for book purposes. | ||||||||||||||||||||||||||||||||||||
The following table summarizes our average recorded investment and interest income recognized on impaired loans for years ended December 31, 2013 and 2012, respectively: | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
(In Thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $138 | $13 | $330 | $20 | ||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 366 | 36 | 279 | 19 | ||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 710 | 28 | 926 | 19 | ||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | — | — | 509 | — | ||||||||||||||||||||||||||||||||
Commercial - AQR loss | — | — | 28 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR pass | 118 | — | — | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 411 | 6 | 118 | — | ||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,238 | — | 2,105 | — | ||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 413 | 58 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR pass | 389 | 35 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR special mention | 859 | 66 | 664 | 41 | ||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR substandard | 337 | 18 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR doubtful | — | — | 93 | — | ||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR loss | 100 | 5 | — | — | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR pass | 90 | 6 | 1,216 | 95 | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR special mention | 842 | 83 | 340 | 22 | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR substandard | 1,340 | 78 | 1,185 | 98 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR pass | — | — | 40 | 6 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | — | — | 623 | 33 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,440 | 20 | 2,047 | 66 | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 90 | 5 | 95 | 5 | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR special mention | 21 | 1 | — | — | ||||||||||||||||||||||||||||||||
Consumer other - AQR pass | — | — | 102 | 5 | ||||||||||||||||||||||||||||||||
Consumer other - AQR special mention | — | — | — | — | ||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 148 | 3 | 63 | — | ||||||||||||||||||||||||||||||||
Subtotal | $10,050 | $461 | $10,763 | $429 | ||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $— | $— | $66 | $— | ||||||||||||||||||||||||||||||||
Commercial - AQR special mention | — | — | 147 | — | ||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 109 | — | 163 | — | ||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 64 | — | 208 | — | ||||||||||||||||||||||||||||||||
Commercial - AQR loss | 46 | — | 158 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR substandard | 382 | — | 667 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | — | — | 202 | — | ||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | — | — | 1,077 | 7 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR doubtful | — | — | 59 | — | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | — | — | 88 | — | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | 194 | — | — | — | ||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 40 | — | 13 | — | ||||||||||||||||||||||||||||||||
Subtotal | $835 | $— | $2,848 | $7 | ||||||||||||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $138 | $13 | $396 | $20 | ||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 366 | 36 | 426 | 19 | ||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 819 | 28 | 1,089 | 19 | ||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 64 | — | 717 | — | ||||||||||||||||||||||||||||||||
Commercial - AQR loss | 46 | — | 186 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR pass | 118 | — | — | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 411 | 6 | 118 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR substandard | 382 | — | 667 | — | ||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | — | — | 202 | — | ||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,238 | — | 2,105 | — | ||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 413 | 58 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR pass | 389 | 35 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR special mention | 859 | 66 | 664 | 41 | ||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR substandard | 337 | 18 | — | — | ||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR doubtful | — | — | 93 | — | ||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR loss | 100 | 5 | — | — | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR pass | 90 | 6 | 1,216 | 95 | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 842 | 83 | 340 | 22 | ||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 1,340 | 78 | 1,185 | 98 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR pass | — | — | 40 | 6 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | — | — | 623 | 33 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,440 | 20 | 3,124 | 73 | ||||||||||||||||||||||||||||||||
Real estate term other - AQR doubtful | — | — | 59 | — | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 90 | 5 | 183 | 5 | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR special mention | 21 | 1 | — | — | ||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | 194 | — | — | — | ||||||||||||||||||||||||||||||||
Consumer other - AQR pass | — | — | 102 | 5 | ||||||||||||||||||||||||||||||||
Consumer other - AQR special mention | — | — | — | — | ||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 188 | 3 | 76 | — | ||||||||||||||||||||||||||||||||
Total Impaired Loans | $10,885 | $461 | $13,611 | $436 | ||||||||||||||||||||||||||||||||
Loans classified as troubled debt restructurings (“TDR”) totaled $7.9 million and $12.1 million at December 31, 2013 and December 31, 2012, respectively. A troubled debt restructuring is a loan to a borrower that is experiencing financial difficulty that has been modified from its original terms and conditions in such a way that the Company is granting the borrower a concession of some kind. The Company has granted a variety of concessions to borrowers in the form of loan modifications. The modifications granted 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. | ||||||||||||||||||||||||||||||||||||
Payment Modification: A modification in which the dollar amount of the payment is changed, or in which a loan is converted to interest only payments for a period of time is included in this category. | ||||||||||||||||||||||||||||||||||||
Combination Modification: Any other type of modification, including the use of multiple categories above. | ||||||||||||||||||||||||||||||||||||
AQR pass graded loans included above in the impaired loan data are loans classified as TDRs. By definition, TDRs are considered impaired loans. All of the Company’s TDRs are included in impaired loans. | ||||||||||||||||||||||||||||||||||||
The following table presents December 31, 2013 balances of loans that were restructured during 2013: | ||||||||||||||||||||||||||||||||||||
Accrual Status | Nonaccrual Status | Total Modifications | ||||||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
New Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | $353 | $— | $353 | |||||||||||||||||||||||||||||||||
Real estate owner occupied - AQR special mention | 282 | — | 282 | |||||||||||||||||||||||||||||||||
Subtotal | $635 | $— | $635 | |||||||||||||||||||||||||||||||||
Existing Troubled Debt Restructurings | 6,000 | 1,277 | 7,277 | |||||||||||||||||||||||||||||||||
Total | $6,635 | $1,277 | $7,912 | |||||||||||||||||||||||||||||||||
The following table presents December 31, 2013 balances of loans that were restructured during 2013 by concession (terms modified): | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Number of Contracts | Rate Modification | Term Modification | Payment Modification | Combination Modification | Total Modifications | ||||||||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment: | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 1 | $— | $— | $353 | $— | $353 | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1 | — | 283 | — | — | 283 | ||||||||||||||||||||||||||||||
Total | 2 | $— | $283 | $353 | $— | $636 | ||||||||||||||||||||||||||||||
Post-Modification Outstanding Recorded Investment: | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 1 | $— | $— | $353 | $— | $353 | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1 | — | 282 | — | — | 282 | ||||||||||||||||||||||||||||||
Total | 2 | $— | $282 | $353 | $— | $635 | ||||||||||||||||||||||||||||||
The Company had no commitments to extend additional credit to borrowers owing receivables whose terms have been modified in troubled debt restructurings at December 31, 2013. There were no charge offs on loans that were later classified as TDRs in 2013 or 2012. There were two charge offs totaling $280,000 in December 31, 2012 on loans that were later classified as TDRs in the real estate term category. | ||||||||||||||||||||||||||||||||||||
All TDRs are also classified as impaired loans and are included in the loans individually evaluated for impairment in the calculation of the Allowance. There were no TDRs with specific impairment at December 31, 2013. Five TDRs with a total recorded investment of $1.4 million had a specific impairment amount totaling $659,000 at December 31, 2012. | ||||||||||||||||||||||||||||||||||||
The following table presents loans that were restructured during 2013, 2012, and 2011, respectively, that also defaulted subsequent to restructuring in those same periods: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings that Subsequently Defaulted: | ||||||||||||||||||||||||||||||||||||
Commercial - AQR special mention | — | $— | — | $— | $— | $— | ||||||||||||||||||||||||||||||
Commercial - AQR substandard | — | — | 2 | 300 | — | — | ||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR substandard | — | — | 1 | 794 | — | — | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | — | — | 1 | 846 | — | — | ||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | — | — | 1 | 1,044 | — | — | ||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | — | — | 1 | 93 | — | — | ||||||||||||||||||||||||||||||
Total | — | $— | 6 | $3,077 | $— | $— | ||||||||||||||||||||||||||||||
At December 31, 2013 and December 31, 2011, the Company had no TDRs that subsequently defaulted within the twelve month periods ending December 31, 2013 and December 31, 2011. At December 31, 2012, $2.2 million of these restructured loans are classified as nonaccrual loans. The remaining $923,000 in TDRs that defaulted in 2012 are not past due and are accruing interest at December 31, 2012. | ||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, there were no loans pledged as collateral to secure public deposits. | ||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company serviced $93.8 million and $89.0 million of loans, respectively, which had been sold to various investors without recourse. At December 31, 2013 and 2012, the Company held $714,000 and $648,000, respectively, in trust for these loans for the payment of such items as taxes, insurance, and maintenance costs. | ||||||||||||||||||||||||||||||||||||
Certain directors, and companies of which directors are principal owners, have loans and other transactions such as architectural fees with the Company. Such transactions are made on substantially the same terms, including interest rates and collateral required, as those prevailing for similar transactions of unrelated parties. An analysis of the loan transactions follows: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Balance, beginning of the year | $373 | $402 | ||||||||||||||||||||||||||||||||||
Loans made | 2,439 | 210 | ||||||||||||||||||||||||||||||||||
Repayments | 476 | 239 | ||||||||||||||||||||||||||||||||||
Balance, end of year | $2,336 | $373 | ||||||||||||||||||||||||||||||||||
The Company’s unfunded loan commitments to these directors or their related interests on December 31, 2013 and 2012, were $0 and $136,000, respectively. |
Allowance_For_Loan_Losses
Allowance For Loan Losses | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Allowance For Loan Losses | ' | |||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||
The Allowance for Loan Losses (“the Allowance”) is management’s best estimate of probable losses inherent in its loan portfolio. Accordingly, the methodology is based on historical loss experience by loan segment and class with adjustments for current events and conditions. The Company’s process for determining the appropriate level of the Allowance for probable loan losses is designed to account for credit deterioration as it occurs. The provision for loan losses reflects loan quality trends, including levels of and trends related to past due and nonaccrual loans, net charge-offs or recoveries, and other factors. | ||||||||||||||||||||||||||||||||||||
The level of the Allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and unidentified losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific credits; however, the entire allowance is available for any credit that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the ultimate adequacy of the Allowance is dependent upon a variety of factors beyond the Company’s control including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates, and the view of the regulatory authorities toward loan classification. | ||||||||||||||||||||||||||||||||||||
The Company’s Allowance consists of three elements: (1) specific valuation allowances based on probable losses on specific loans, (2) general valuation allowances based on historical loan loss experience for similar loans with similar characteristics and trends, adjusted as necessary to reflect the impact of current conditions, and (3) unallocated general valuation allowances based on general economic conditions and other qualitative risk factors both internal and external to the Company. | ||||||||||||||||||||||||||||||||||||
The specific valuation allowance is an allocated allowance for impaired loans. This analysis is based upon a specific analysis for each impaired loan that is collateral dependent, including appraisals and in-house evaluations on loans secured by real property, management’s assessment of the current market, recent payment history, and an evaluation of other sources of repayment. The Company obtains appraisals on real and personal property that secure its loans during the loan origination process in accordance with regulatory guidance and its loan policy. | ||||||||||||||||||||||||||||||||||||
The general valuation allowance is a general allocated allowance for all other loans that were not impaired as of the balance sheet date. The Company uses a formula-based approach that includes average historical loss factors that are adjusted for qualitative factors to establish this portion of the Allowance. The Company first disaggregates the overall loan portfolio into the following segments: commercial, real estate construction one-to-four family, real estate construction other, real estate term owner occupied, real estate term non-owner occupied, real estate term other, consumer secured by 1st deeds of trust, and other consumer loans. Then the Company further disaggregates each segment into the following classes: pass, special mention, substandard, doubtful and loss. After the portfolio has been disaggregated into these segments and classes, the Company calculates a general reserve for each segment and class based on the average five year loss history for each segment and class. This general reserve is then adjusted for qualitative factors, by segment and class. Qualitative factors are based on management’s assessment of current trends that may cause losses inherent in the current loan portfolio to differ significantly from historical losses. Some factors that management considers in determining the qualitative adjustment to the general reserve include our concentration of large borrowers, national and local economic trends, business conditions, underwriting policies and standards, trends in local real estate markets, effects of various political activities, peer group data, and internal factors such as underwriting policies and expertise of the Company’s employees. | ||||||||||||||||||||||||||||||||||||
The unallocated general valuation portion of the Allowance is based on several factors, including the level of the Allowance as compared to total loans and nonperforming loans in light of current economic conditions. This portion of the Allowance is deemed “unallocated” because it is not allocated to any segment or class of the loan portfolio. This portion of the Allowance provides for coverage of credit losses inherent in the loan portfolio but not captured in the credit loss factors that are utilized in the risk rating-based component or in the specific impairment component of the Allowance and acknowledges the inherent imprecision of all loss prediction models. This portion of the Allowance is based upon management’s evaluation of various factors that are not directly measured in the determination of the allocated portions of the Allowance. Such factors include uncertainties in identifying triggering events that directly correlate to subsequent loss rates, uncertainties in economic conditions, risk factors that have not yet manifested themselves in loss allocation factors, and historical loss experience data that may not precisely correspond to the current portfolio. In addition, the unallocated reserve may fluctuate based upon the direction of various risk indicators. Examples of such factors include the risk as to current and prospective economic conditions, the level and trend of charge offs or recoveries, and the risk of heightened imprecision or inconsistency of appraisals used in estimating real estate values. Although this allocation process may not accurately predict credit losses by loan type or in aggregate, the total allowance for credit losses is available to absorb losses that may arise from any loan type or category. | ||||||||||||||||||||||||||||||||||||
Loans identified as losses by management, internal loan review and/or bank examiners are charged-off. | ||||||||||||||||||||||||||||||||||||
The following tables detail activity in the Allowance for the periods indicated: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deed of trust | Consumer other | Unallocated | Total | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | ||||||||||||||||||||||||||
Charge-Offs | (1,018 | ) | — | — | — | — | — | (14 | ) | (164 | ) | — | (1,196 | ) | ||||||||||||||||||||||
Recoveries | 1,049 | 77 | 79 | — | 488 | — | — | 12 | — | 1,705 | ||||||||||||||||||||||||||
Provision (benefit) | (560 | ) | (549 | ) | 134 | 142 | (256 | ) | (2 | ) | (8 | ) | 154 | 310 | (635 | ) | ||||||||||||||||||||
Balance, end of period | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $322 | $390 | $2,278 | $16,282 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $— | $— | $— | $— | $— | $— | $11 | $— | $— | $11 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $311 | $390 | $2,278 | $16,271 | ||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $6,783 | $468 | $1,169 | $1,272 | $2,975 | $788 | $374 | $418 | $2,256 | $16,503 | ||||||||||||||||||||||||||
Charge-Offs | (496 | ) | — | — | (274 | ) | — | (280 | ) | — | (122 | ) | — | (1,172 | ) | |||||||||||||||||||||
Recoveries | 2,518 | 48 | — | — | — | 50 | — | 20 | — | 2,636 | ||||||||||||||||||||||||||
Provision (benefit) | (2,497 | ) | 513 | (843 | ) | 443 | 1,090 | (19 | ) | (30 | ) | 72 | (288 | ) | (1,559 | ) | ||||||||||||||||||||
Balance, end of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $444 | $215 | $— | $— | $— | $— | $— | $— | $— | $659 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $5,864 | $814 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $15,749 | ||||||||||||||||||||||||||
The following is a detail of the recorded investment in the loan portfolio, segregated by amounts evaluated individually or collectively in the Allowance at the periods indicated: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deed of trust | Consumer other | Total | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Balance, end of period | $300,338 | $30,161 | $32,599 | $91,098 | $255,324 | $29,976 | $16,483 | $18,058 | $774,037 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $838 | $353 | $2,520 | $1,668 | $1,741 | $1,292 | $274 | $65 | $8,751 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $299,500 | $29,808 | $30,079 | $89,430 | $253,583 | $28,684 | $16,209 | $17,993 | $765,286 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Balance, end of period | $273,432 | $32,573 | $21,061 | $78,107 | $234,643 | $31,809 | $17,714 | $18,305 | $707,644 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $2,452 | $794 | $2,748 | $1,083 | $2,260 | $3,505 | $93 | $158 | $13,093 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $270,980 | $31,779 | $18,313 | $77,024 | $232,383 | $28,304 | $17,621 | $18,147 | $694,551 | |||||||||||||||||||||||||||
The following represents the balance of the Allowance for the periods indicated segregated by segment and class: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Total | Commercial | Real estate construction 1-4 family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deeds of trust | Consumer other | Unallocated | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||
AQR Substandard | $11 | $— | $— | $— | $— | $— | $— | $11 | $— | $— | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Pass | 13,325 | 5,482 | 527 | 537 | 1,381 | 4,225 | 537 | 274 | 362 | — | ||||||||||||||||||||||||||
AQR Special Mention | 586 | 278 | 30 | 2 | 202 | 30 | — | 36 | 8 | — | ||||||||||||||||||||||||||
AQR Substandard | 82 | 19 | — | — | — | 42 | — | 1 | 20 | — | ||||||||||||||||||||||||||
Unallocated | 2,278 | — | — | — | — | — | — | — | — | 2,278 | ||||||||||||||||||||||||||
$16,282 | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $322 | $390 | $2,278 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Substandard | $284 | $284 | $— | $— | $— | $— | $— | $— | $— | $— | ||||||||||||||||||||||||||
AQR Doubtful | 374 | 160 | 214 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Pass | 12,930 | 5,520 | 711 | 326 | 1,242 | 3,961 | 539 | 280 | 351 | — | ||||||||||||||||||||||||||
AQR Special Mention | 490 | 321 | 16 | — | 51 | 34 | — | 56 | 12 | — | ||||||||||||||||||||||||||
AQR Substandard | 362 | 23 | 88 | — | 148 | 70 | — | 8 | 25 | — | ||||||||||||||||||||||||||
Unallocated | 1,968 | — | — | — | — | — | — | — | — | 1,968 | ||||||||||||||||||||||||||
$16,408 | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | |||||||||||||||||||||||||||
Purchased_Receivables_Notes
Purchased Receivables (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Purchased Receivables [Abstract] | ' | |||||||
Purchased Receivables | ' | |||||||
Purchased Receivables | ||||||||
We purchase accounts receivable from our business customers and provide them with short-term working capital. We provide this service to our customers in Alaska and in Washington and the greater west coast through NFS. Our purchased receivable activity is guided by policies that outline risk management, documentation, and approval limits. The policies are reviewed and approved annually by the Board of Directors. | ||||||||
Purchased receivables are carried at their principal amount outstanding, net of a reserve for anticipated losses that have not yet been identified, and have a maturity of less than one year. Purchased receivable balances are charged against this reserve when management believes that collection of principal is unlikely. Management evaluates the adequacy of the reserve for purchased receivable losses based on historical loss experience by segment and class of receivable and its assessment of current economic conditions. As of December 31, 2013, the Company has one segment and class of purchased receivables. There are no purchased receivables past due at December 31, 2013 or 2012, respectively, and there were no restructured purchased receivables in 2013, 2012, or 2011. | ||||||||
Income on purchased receivables is accrued and recognized on the principal amount outstanding using an effective interest method except when management believes doubt exists as to the collectability of the income or principal. As of December 31, 2013, the Company is accruing income on all purchased receivable balances outstanding. | ||||||||
The following table summarizes the components of net purchased receivables at December 31, for the years indicated: | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Purchased receivables | $16,298 | $19,345 | ||||||
Reserve for purchased receivable losses | (273 | ) | (323 | ) | ||||
Total | $16,025 | $19,022 | ||||||
The following table sets forth information regarding changes in the purchased receivable reserve for the periods indicated: | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Balance at beginning of period | $323 | $— | ||||||
Charge-offs | (150 | ) | (34 | ) | ||||
Recoveries | — | — | ||||||
Charge-offs net of recoveries | (150 | ) | (34 | ) | ||||
Reserve of purchased receivables | 100 | 357 | ||||||
Balance at end of period | $273 | $323 | ||||||
The Company recorded one partial charge-off for $150,000 in 2013. The remaining purchased receivables related to this relationship are not past due and are currently performing. |
Premises_And_Equipment_Notes
Premises And Equipment (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Premises And Equipment | ' | |||||||||
Premises & Equipment | ||||||||||
The following summarizes the components of premises and equipment at December 31 for the years indicated: | ||||||||||
(In Thousands) | Useful Life | 2013 | 2012 | |||||||
Land | $3,201 | $3,201 | ||||||||
Furniture and equipment | 3-7 years | 9,988 | 9,389 | |||||||
Tenant improvements | 2-15 years | 6,776 | 6,771 | |||||||
Buildings | 39 years | 27,090 | 25,661 | |||||||
Total Premises and Equipment | 47,055 | 45,022 | ||||||||
Accumulated depreciation and amortization | (18,731 | ) | (17,114 | ) | ||||||
Total Premises and Equipment, Net | $28,324 | $27,908 | ||||||||
Depreciation expense and amortization of leasehold improvements was $1.8 million, $1.7 million, and $1.7 million for the years ended December 31, 2013, 2012, and 2011, respectively. |
Other_Real_Estate_Owned_Notes
Other Real Estate Owned (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Real Estate [Abstract] | ' | |||||||||
Other Real Estate Owned | ' | |||||||||
Other Real Estate Owned | ||||||||||
At December 31, 2013 and 2012, the Company held $2.4 million and $4.5 million, respectively, as OREO. The following table details net operating expense related to OREO for the periods indicated: | ||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||
OREO (income) expense, net rental income and gains on sale: | ||||||||||
OREO operating expense | $142 | $701 | $335 | |||||||
Impairment on OREO | 112 | 469 | 92 | |||||||
Rental income on OREO | (26 | ) | (35 | ) | (248 | ) | ||||
Gains on sale of OREO | (288 | ) | (46 | ) | (889 | ) | ||||
Total | ($60 | ) | $1,089 | ($710 | ) | |||||
Goodwill_Intangible_And_Other_
Goodwill, Intangible And Other Assets (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Goodwill, Intangible And Other Assets | ' | |||||||||||
Goodwill, Intangible and Other Assets | ||||||||||||
A summary of intangible assets and other assets is as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | ||||||||||
Intangible assets: | ||||||||||||
Goodwill | $7,525 | $7,525 | ||||||||||
Core deposit intangible | 214 | 328 | ||||||||||
NBG customer relationships | 203 | 317 | ||||||||||
Total | $7,942 | $8,170 | ||||||||||
Other assets: | ||||||||||||
Investment in Low Income Housing Partnerships | $15,681 | $5,974 | ||||||||||
Deferred taxes, net | 8,776 | 9,991 | ||||||||||
Investment in RML Holding Company | 5,953 | 6,153 | ||||||||||
Bank owned life insurance | 2,678 | 2,726 | ||||||||||
Taxes receivable | 1,526 | 1,432 | ||||||||||
Investment in PWA | 1,484 | 1,575 | ||||||||||
Prepaid expenses | 1,393 | 4,388 | ||||||||||
Note receivable from ECCM | 339 | 339 | ||||||||||
Investment in ECCM | 74 | 36 | ||||||||||
Investment in ECIA | 61 | 56 | ||||||||||
Other assets | 2,701 | 2,219 | ||||||||||
Total | $40,666 | $34,889 | ||||||||||
Prepaid expenses were $1.4 million and $4.4 million at December 31, 2013 and 2012, respectively. Prepaid expenses included $0 and $3.5 million in prepaid FDIC assessments at December 31, 2013 and 2012, respectively. In accordance with FDIC regulations, the Company prepaid its FDIC insurance premiums for the fiscal year ending Decembers 31, 2012. | ||||||||||||
As part of the stock acquisition of Alaska First in October 2007, the Company recorded $1.8 million of goodwill and $1.3 million of CDI for the acquisition of Alaska First stock. The Company is amortizing the CDI related to the Alaska First acquisition using the sum of years’ digits method over the estimated useful life of 10 years. | ||||||||||||
The Company performed its annual goodwill impairment testing at December 31, 2013 and 2012 in accordance with the policy described in Note 1 to the financial statements. At December 31, 2013, the Company performed its annual impairment test using the qualitative assessment. Significant positive inputs to the qualitative assessment included the Company’s capital position; the Company’s increasing historical trends and budget-to-actual results of operations; the Company’s decreasing trends in, and current level of nonperforming assets; results of regulatory examinations; peer comparisons of net interest margin; and trends in the Company’s cash flows. Significant negative inputs to the qualitative assessment included the Company's trend of decreasing net interest margin, decreased income from our mortgage affiliate, and, while there has been a recovery in recent years, the general decline in stock prices for financial institutions as compared to pre-2008 stock prices. We believe that the positive inputs to the qualitative assessment noted above outweigh the negative inputs, and we therefore concluded that it is more likely than not that the fair value of the Company exceeds the carrying value at December 31, 2013 and that no potential impairment existed at that time. | ||||||||||||
The Company recorded amortization expense of its intangible assets of $228,000, $252,000, and $275,000 for the years ended December 31, 2013, 2012, and 2011, respectively. Accumulated amortization for intangible assets was $6.2 million and $5.9 million at December 31, 2013 and 2012, respectively. | ||||||||||||
The future amortization expense required on these assets is as follows: | ||||||||||||
(In Thousands) | ||||||||||||
2014 | $204 | |||||||||||
2015 | 153 | |||||||||||
2016 | 42 | |||||||||||
2017 | 18 | |||||||||||
2018 | — | |||||||||||
Thereafter | — | |||||||||||
Total | $417 | |||||||||||
Affiliates: The Company applies the equity method of accounting for the following affiliates: | ||||||||||||
• | The Company owns a 43% equity interest in ECCM, an investment advisory services company. ECCM began active operations in the fourth quarter of 2002 and had operating losses since that time through 2012. In 2013, ECCM had net income of $100,000. In addition to its ownership interest, the Company provides ECCM with a line of credit that has a committed amount of $500,000 and an outstanding balance of $339,000 as of December 31, 2013. | |||||||||||
• | The Company owns a 23% interest in PWA, an investment advisory, trust, and wealth management business located in Seattle, Washington. | |||||||||||
• | The Company owns a 43% interest in ECIA, an insurance agency that offers annuity and other insurance products. | |||||||||||
• | The Company owns a 24% interest in the profits of RML, a residential mortgage holding company. In addition to its ownership interest, the Company provides RML with two lines of credit that have committed amounts of $18.0 million and outstanding balances of $9.6 million as of December 31, 2013. Additionally, the Company purchased $156.5 million and $242.5 million in loans from RML in 2013 and 2012. | |||||||||||
Below is summary balance sheet and income statement information for RML. | ||||||||||||
(In Thousands, Unaudited) | 2013 | 2012 | ||||||||||
Assets | ||||||||||||
Cash | $11,852 | $13,547 | ||||||||||
Loans held for sale | 24,807 | 59,840 | ||||||||||
Other assets | 14,084 | 15,777 | ||||||||||
Total Assets | $50,743 | $89,164 | ||||||||||
Liabilities | ||||||||||||
Lines of credit | $21,949 | $56,932 | ||||||||||
Other liabilities | 5,652 | 7,481 | ||||||||||
Total Liabilities | 27,601 | 64,413 | ||||||||||
Shareholders' Equity | 23,142 | 24,751 | ||||||||||
Total Liabilities and Shareholders' Equity | $50,743 | $89,164 | ||||||||||
Income/expense | ||||||||||||
Gross income | $22,224 | $31,113 | ||||||||||
Total expense | 18,313 | 20,033 | ||||||||||
Joint venture allocations | 555 | 84 | ||||||||||
Net Income | $4,466 | $11,164 | ||||||||||
The Company has analyzed all of its affiliate relationships in accordance with GAAP and determined that PWA, RML, and ECIA are not VIEs. The Company has determined that ECCM is a VIE. However, the Company does not have a controlling interest in ECCM. The Company determined that ECCM is a VIE based on the fact that the Company provides ECCM with a line of credit for which the majority owner of ECCM provides additional subordinated financial support in the form of a 50% guarantee. This line of credit has a committed amount of $500,000 and an outstanding balance of $339,000 as of December 31, 2013. Furthermore, ECCM does not have access to any other financial support through other institutions, nor is it likely that it would be able to obtain additional lines of credit based on its operational losses through 2012 and its resulting lack of equity. As such, it appears that ECCM cannot finance its activities without additional subordinated financial support and is therefore considered a VIE under GAAP. However, the Company has determined that it does not have a controlling interest in ECCM based on the following facts and circumstances: | ||||||||||||
a. | Neither the Company nor any members of the Company’s management have control over the budgeting or operational processes of ECCM. | |||||||||||
b. | While the President, CEO and Chairman of the Company is a member of ECCM’s board, he does not exert influence on decisions beyond Northrim Investment Services Company’s ownership percentage in ECCM. | |||||||||||
c. | The Company has no veto rights with respect to decisions affecting the operations of ECCM. | |||||||||||
The Company has the obligation to absorb losses of ECCM up to its ownership percentage of 43%. There are no caps or guarantees on returns, and there are no protections to limit any investor’s share of losses. Additionally, the Company provides ECCM with a $500,000 line of credit. This line includes a 50% personal guarantee by the majority owner of ECCM. Therefore, the Company does have the obligation to absorb losses and the right to receive benefits that could be significant to ECCM and which, as a result of its exposure to 50% of any losses incurred on the line of credit that the Company has extended to ECCM, may be greater than the Company’s 43% ownership therein. | ||||||||||||
However, the applicable accounting guidance requires that the Company have both the power to control the activities of ECCM that most significantly impact its economic performance and the obligation to absorb losses or the right to receive benefits from Elliott Cove that could potentially be significant to ECCM. The Company has determined that the facts and circumstances of its relationship with ECCM including its overall involvement in the operations, decision-making capabilities, and proportionate share in earnings and losses do not satisfy the criteria for a controlling interest because it does not have the power to direct the activities of ECCM according to GAAP. | ||||||||||||
While the Company also provides a line of credit to RML, which is also guaranteed by the other owners of RML, RML has other available lines of credit with unrelated financial institutions which have been in place for many years. Additionally, RML has a history of profitability and has sufficient capital to support its operations. RML had $23.1 million in equity, $50.7 million in assets and net income of $4.5 million as of and for the year ended December 31, 2013. As such, the total equity investment in the entity, which is provided by the Company and the other owners, is adequate to finance the activities of RML. Therefore, the Company has concluded that RML is not a VIE. | ||||||||||||
Low Income Housing Partnerships: The table below shows the Company's commitments to invest in various low income housing tax credit partnerships. The Company earns a return on its investments in the form of tax credits and deductions that flow through to it as a limited partner in these partnerships. The Company recognized amortization expense of $969,000, $921,000, and $902,000 in 2013, 2012, and 2011, respectively. The Company expects to fund its remaining $11.0 million in commitments on these investments through 2029. | ||||||||||||
(In Thousands) | Date of original commitment | Years over which tax credits are earned | Original commitment amount | Less: life to date contributions | Remaining commitment amount | |||||||
R4 | Mar-13 | 17 | $10,675 | ($909 | ) | $9,766 | ||||||
WNC | Dec-12 | 16 | 2,500 | (1,219 | ) | 1,281 | ||||||
USA 57 | Dec-06 | 15 | 3,000 | (3,000 | ) | — | ||||||
Centerline XXXIII | Sep-06 | 18 | 3,000 | (3,000 | ) | — | ||||||
Centerline XXII | Jan-03 | 18 | 3,000 | (3,000 | ) | — | ||||||
Total | $22,175 | ($11,128 | ) | $11,047 | ||||||||
Deposits
Deposits | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Deposits [Abstract] | ' | |||||||||||
Deposits | ' | |||||||||||
Deposits | ||||||||||||
Deposits : At December 31, 2013, the scheduled maturities of certificates of deposit (excluding Alaska CD’s, which do not have scheduled maturities) are as follows: | ||||||||||||
(In Thousands) | ||||||||||||
2014 | $55,355 | |||||||||||
2015 | 17,187 | |||||||||||
2016 | 12,855 | |||||||||||
2017 | 721 | |||||||||||
2018 | 107 | |||||||||||
Thereafter | — | |||||||||||
Total | $86,225 | |||||||||||
The Company is a member of the Certificate of Deposit Account Registry System (“CDARS”) which is a network of over 3,000 banks throughout the United States. The CDARS system was founded in 2003 and allows participating banks to exchange FDIC insurance coverage so that 100% of the balance of their customers’ certificates of deposit are fully subject to FDIC insurance. The system also allows for investment of banks’ own investment dollars in the form of domestic certificates of deposit. The Company had $0 and $155,000 in CDARS certificates of deposits at December 31, 2013 and 2012, respectively. | ||||||||||||
At December 31, 2013 and 2012, the Company did not hold any certificates of deposit from a public entity collateralized by letters of credit issued by the Federal Home Loan Bank. At December 31, 2013 and 2012, the Company did not have any securities pledged to collateralize certificates of deposit from a public entity. | ||||||||||||
At December 31, 2013 and 2012, the Company held $12.5 million and $11.4 million, respectively, in deposits for related parties, including directors, executive officer, and their affiliates. | ||||||||||||
Interest expense: Interest expense on deposits is presented below: | ||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||||
Interest-bearing demand accounts | $54 | $73 | $111 | |||||||||
Money market accounts | 338 | 432 | 591 | |||||||||
Savings accounts | 485 | 503 | 622 | |||||||||
Certificates of deposit greater than $100,000 | 236 | 386 | 620 | |||||||||
Certificates of deposit less than $100,000 | 128 | 288 | 782 | |||||||||
Total | $1,241 | $1,682 | $2,726 | |||||||||
Borrowings_Notes
Borrowings (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Debt Disclosure [Abstract] | ' | |||
Borrowings | ' | |||
Borrowings | ||||
The Company has a line of credit with the FHLB of Seattle approximating 13% of eligible assets, or $155.6 million at December 31, 2013. FHLB advances are subject to collateral criteria that require the Company to pledge assets under a blanket pledge arrangement as collateral for its borrowings from the FHLB. Additional advances are dependent on the availability of acceptable collateral such as marketable securities or real estate loans, although all FHLB advances are secured by a blanket pledge of the Company’s assets. The Company has an outstanding FHLB CIP advance of $2.2 million as of December 31, 2013 that was originated on March 22, 2013 and is included in long term borrowings. This advance was originated to match fund a loan to one borrower for the construction of a low income housing project that qualifies for a long term fixed interest rate; it has an eighteen year term with a 30 year amortization period, which mirrors the term of the term real estate loan made to the borrower. The Company did not have any outstanding FHLB advances at December 31, 2012. | ||||
The Company purchased its main office facility for $12.9 million on July 1, 2008. In this transaction, the Company, through NBL, assumed an existing loan secured by the building in an amount of $5.1 million. At December 31, 2013, the outstanding balance on this loan is $4.3 million. This is an amortizing loan and has a maturity date of April 1, 2014 and an interest rate of 5.95% as of December 31, 2013. | ||||
The Federal Reserve Bank is holding $89.9 million of loans as collateral to secure available borrowing lines through the discount window of $60.9 million at December 31, 2013. There were no discount window advances outstanding at December 31, 2013 and 2012. The Company paid less than $1,000 in 2013 and 2012 in interest on this agreement. | ||||
Securities sold under agreements to repurchase were $21.1 million and $19.0 million, respectively, for December 31, 2013 and 2012. The Company was paying 0.08% and 0.25% on these agreements at December 31, 2013 and 2012, respectively. The average balance outstanding of securities sold under agreement to repurchase during 2013 and 2012 was $19.4 million and $16.5 million, respectively, and the maximum outstanding at any month-end was $24.0 million and $22.6 million, respectively, during the same time periods. The securities sold under agreement to repurchase are held by the Federal Home Loan Bank under the Company’s control. | ||||
The Company had no other borrowings at December 31, 2013 and 2012. | ||||
The future principal payments that are required on the Company’s borrowings as of December 31, 2013, are as follows: | ||||
(In Thousands) | ||||
2014 | $4,364 | |||
2015 | 45 | |||
2016 | 46 | |||
2017 | 48 | |||
2018 | 50 | |||
Thereafter | 1,974 | |||
Total | $6,527 | |||
The Company recognized interest expense of $340,000, $329,000, and $352,000 in 2013, 2012, and 2011, respectively. The average interest rate paid rate on long term debt in the same periods was 5.13%, 5.95%, and 5.95%, respectively. |
Junior_Subordinated_Debentures
Junior Subordinated Debentures (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Junior Subordinated Notes [Abstract] | ' |
Junior Subordinated Debentures | ' |
Junior Subordinated Debentures | |
In May of 2003, the Company formed a wholly-owned Delaware statutory business trust subsidiary, Northrim Capital Trust 1 (the “Trust”), which issued $8 million of guaranteed undivided beneficial interests in the Company’s Junior Subordinated Deferrable Interest Debentures (“Trust Preferred Securities”). These debentures qualify as Tier 1 capital under Federal Reserve Board guidelines. All of the common securities of the Trust are owned by the Company. The proceeds from the issuance of the common securities and the Trust Preferred Securities were used by the Trust to purchase $8.2 million of junior subordinated debentures of the Company. The Trust is not consolidated in the Company’s financial statements in accordance with GAAP; therefore, the Company has recorded its investment in the Trust as another asset and the subordinated debentures as a liability. The debentures, which represent the sole asset of the Trust, accrue and pay distributions quarterly at a variable rate of 90-day LIBOR plus 3.15% per annum, adjusted quarterly, of the stated liquidation value of $1,000 per capital security. The interest rate on these debentures was 3.39% at December 31, 2013. The interest cost to the Company on these debentures was $278,000, $292,000, and $281,000 in 2013, 2012, and 2011, respectively. The Company has entered into contractual arrangements which, taken collectively, fully and unconditionally guarantee payment of: (i) accrued and unpaid distributions required to be paid on the Trust Preferred Securities; (ii) the redemption price with respect to any Trust Preferred Securities called for redemption by the Trust; and (iii) payments due upon a voluntary or involuntary dissolution, winding up or liquidation of the Trust. The Trust Preferred Securities are mandatorily redeemable upon maturity of the debentures on May 15, 2033, or upon earlier redemption as provided in the indenture. The Company has the right to redeem the debentures purchased by the Trust in whole or in part, on or after May 15, 2008. As specified in the indenture, if the debentures are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest. | |
In December of 2005, the Company formed a wholly-owned Connecticut statutory business trust subsidiary, Northrim Statutory Trust 2 (the “Trust 2”), which issued $10 million of guaranteed undivided beneficial interests in the Company’s Junior Subordinated Deferrable Interest Debentures (“Trust Preferred Securities 2”). These debentures qualify as Tier 1 capital under Federal Reserve Board guidelines. All of the common securities of Trust 2 are owned by the Company. The proceeds from the issuance of the common securities and the Trust Preferred Securities 2 were used by Trust 2 to purchase $10.3 million of junior subordinated debentures of the Company. Trust 2 is not consolidated in the Company’s financial statements in accordance with GAAP; therefore, the Company has recorded its investment in Trust 2 as an other asset and the subordinated debentures as a liability. The debentures, which represent the sole asset of Trust 2, accrue and pay distributions quarterly at a variable rate of 90-day LIBOR plus 1.37% per annum, adjusted quarterly, of the stated liquidation value of $1,000 per capital security. The interest rate on these debentures was 1.61% at December 31, 2013. The interest cost to the Company on these debentures was $167,000, $186,000, and $171,000 in 2013, 2012, and 2011, respectively. The Company has entered into contractual arrangements which, taken collectively, fully and unconditionally guarantee payment of: (i) accrued and unpaid distributions required to be paid on the Trust Preferred Securities 2; (ii) the redemption price with respect to any Trust Preferred Securities 2 called for redemption by Trust 2; and (iii) payments due upon a voluntary or involuntary dissolution, winding up or liquidation of Trust 2. The Trust Preferred Securities 2 are mandatorily redeemable upon maturity of the debentures on March 15, 2036, or upon earlier redemption as provided in the indenture. The Company has the right to redeem the debentures purchased by Trust 2 in whole or in part, on or after March 15, 2011. As specified in the indenture, if the debentures are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest. |
Employee_Benefit_Plans_Notes
Employee Benefit Plans (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Employee Benefit Plans | ' |
Employee Benefit Plans | |
On July 1, 1992, the Northrim Bank implemented a profit sharing plan, including a provision designed to qualify the plan under Section 401(k) of the Internal Revenue Code of 1986, as amended. Employees may participate in the plan if they work more than 1,000 hours per year. Under the plan, each eligible participant may contribute a percentage of their eligible salary to a maximum established by the IRS, and Northrim Bank provides for a mandatory $0.25 match for each $1.00 contributed by an employee up to 6% of the employee’s salary. Northrim Bank may increase the matching contribution at the discretion of the Board of Directors. The plan also allows Northrim Bank to make a discretionary contribution on behalf of eligible employees based on their length of service to Northrim Bank. | |
To be eligible for 401(k) contributions, participants must be employed at the end of the plan year, except in the case of death, disability or retirement. Northrim Bank expensed $673,000, $620,000, and $721,000, in 2013, 2012, and 2011, respectively, for 401(k) contributions and included these expenses in salaries and other personal expense in the Consolidated Statements of Income. | |
On July 1, 1994, Northrim Bank implemented a Supplemental Executive Retirement Plan for executive officers of Northrim Bank whose retirement benefits under the 401(k) plan have been limited under provisions of the Internal Revenue Code. Contributions to this plan totaled $220,000, $302,000, and $335,000, in 2013, 2012, and 2011, respectively. These expenses are included in salaries and other personnel expense in the Consolidated Statements of Income. At December 31, 2013 and 2012, the balance of the accrued liability for this plan was included in other liabilities and totaled $2.5 million and $3.1 million, respectively. | |
In February of 2002, Northrim Bank implemented a non-qualified deferred compensation plan in which certain of the executive officers participate. Northrim Bank's net liability under this plan is dependent upon market gains and losses on assets held in the plan. In 2013, 2012 and 2011, Northrim Bank recognized increases in its liability of $99,000, $330,000, and $132,000, respectively. These expenses are included in salaries and other personnel expense in the Consolidated Statements of Income. At December 31, 2013 and 2012, the balance of the accrued liability for this plan was included in other liabilities and totaled $1.2 million and $1.5 million, respectively. | |
In November of 2011, Northrim Bank implemented a Profit Sharing Plan. Executive officers, in addition to all employees of Northrim Bank who commenced employment prior to the January 1 that precedes or coincides with a performance period, are eligible to participate in payments made from a profit sharing pool calculated in accordance with the provisions of the Profit Sharing Plan. The aggregate amount to be paid to employees under the Profit Sharing Plan is determined using performance goals that are established by the Compensation Committee of the Board. If the performance goals are met for the year, the profit sharing pool for the period is calculated based on a formula that is also approved by the Compensation Committee each year. The Compensation Committee approved management’s recommendation based upon the calculated payout under the Profit Sharing Plan’s methodology resulting in aggregate payouts of $858,000 and $894,000 for 2013 and 2012, respectively. Information concerning the calculation of employee payments under the Profit Sharing Plan is set forth under the heading “Performance Based Annual Payment” in the Company’s definitive proxy statement for the 2014 Annual Shareholders’ Meeting and is incorporated into this report by reference. |
Commitments_And_Contingent_Lia
Commitments And Contingent Liabilities (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments And Contingent Liabilities | ' | |||||||
Commitments and Contingencies | ||||||||
Leases: Rental expense under leases for equipment and premises was $667,000, $957,000, and $953,000 in 2013, 2012, and 2011, respectively. Required minimum rentals on non-cancelable leases as of December 31, 2013, are as follows: | ||||||||
(In Thousands) | ||||||||
2014 | $635 | |||||||
2015 | 594 | |||||||
2016 | 474 | |||||||
2017 | 388 | |||||||
2018 | 347 | |||||||
Thereafter | 6,332 | |||||||
Total | $8,770 | |||||||
Rental income under leases was $108,000, $773,000 and $776,000 in 2013, 2012, and 2011, respectively. There are no future required minimum rentals on non-cancelable leases as of December 31, 2013. | ||||||||
Employee benefit plans: The Company is self-insured for medical, dental, and vision plan benefits provided to employees. The Company has obtained stop-loss insurance to limit total medical claims in any one year to $125,000 per covered individual and $1 million for all medical claims incurred by an individual. The Company has established a liability for outstanding incurred but unreported claims. While management uses what it believes are pertinent factors in estimating the liability, it is subject to change due to claim experience, type of claims, and rising medical costs. | ||||||||
Legal proceeding: The Company from time to time may be involved with disputes, claims, and litigation related to the conduct of its banking business. In the opinion of management, the resolution of these matters will not have a material effect on the Company’s financial position, results of operations, and cash flows. | ||||||||
Financial Instruments with Off-Balance-Sheet Risk: In the ordinary course of business, the Company enters into various types of transactions that involve financial instruments with off-balance sheet risk. These instruments include commitments to extend credit and standby letters of credit and are not reflected in the accompanying balance sheets. These transactions may involve to varying degrees credit and interest rate risk in excess of the amount, if any, recognized in the balance sheets. Management does not anticipate any loss as a result of these commitments. | ||||||||
The Company’s off-balance sheet credit risk exposure is the contractual amount of commitments to extend credit and standby letters of credit. The Company applies the same credit standards to these contracts as it uses in its lending process. | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Off-balance sheet commitments: | ||||||||
Commitments to extend credit | $187,931 | $208,328 | ||||||
Standby letters of credit | $6,463 | $22,132 | ||||||
Commitments to extend credit are agreements to lend to customers. These commitments have specified interest rates and generally have fixed expiration dates but may be terminated by the Company if certain conditions of the contract are violated. Although currently subject to draw down, many of the commitments do not necessarily represent future cash requirements. Collateral held relating to these commitments varies, but generally includes real estate, inventory, accounts receivable, and equipment. | ||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Credit risk arises in these transactions from the possibility that a customer may not be able to repay the Company upon default of performance. Collateral held for standby letters of credit is based on an individual evaluation of each customer’s creditworthiness. | ||||||||
The Company has a reserve for losses related to these commitments and letters of credit that is recorded in other liabilities on the consolidated balance sheets. The reserve was $96,000 and $87,000 as of December 31, 2013 and 2012, respectively. | ||||||||
Capital Expenditures and Commitments: At December 31, 2013, the Company has capital commitments of $2.2 million related to the planned improvements to the Company’s corporate office building. The Company expects these capital expenditures to be incurred in 2014. | ||||||||
Pending Acquisition: On October 21, 2013, the Company entered into an Agreement and Plan of Merger (“Merger Agreement”) with Alaska Pacific. The closing of the transaction is subject to the satisfaction of certain customary conditions, including the receipt of required regulatory approvals and the approval of Alaska Pacific's shareholders. Under the terms of the Merger Agreement, the total consideration to be paid by the Company for all of the shares of Alaska Pacific will be based on the volume weighted average closing price of the Company’s common stock for the 15 trading days ending on the fifth trading day before the completion of the Merger. The maximum aggregate consideration to be paid by the Company in connection with the merger is $13,869,274, and the minimum aggregate consideration payable is $12,513,666. Shareholders of Alaska Pacific will be able to elect to receive such consideration in the form of cash or shares of the Company’s common stock, subject to proration so as to ensure that the total consideration for Alaska Pacific will be roughly evenly split between cash and newly issued Northrim BanCorp, Inc. shares. If the Merger Agreement is terminated due to a willful intentional breach by the Company, we will be required to pay Alaska Pacific a termination fee of $600,000. Alaska Pacific will be required to pay the Company a termination fee of $600,000 under specified circumstances, including Alaska Pacific entering into an agreement with respect to a competing offer or entering into an alternative acquisition within 18 months of the termination of the Merger Agreement due to Alaska Pacific’s shareholders failing to approve the Merger, or Alaska Pacific committing a willful intentional breach of the Merger Agreement. |
Derivatives
Derivatives | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||
Derivatives | ' | ||||||||||
Derivatives | |||||||||||
The Company enters into commercial loan interest rate swap agreements in order to provide commercial loan customers the ability to convert from variable to fixed interest rates. Under these agreements, the Company enters into a variable-rate loan agreement with a customer in addition to a swap agreement that effectively converts the customer’s variable rate loan into a fixed rate. The Company then simultaneously enters into a corresponding swap agreement with a third party financial institution (“counterparty”) in order to offset its exposure on the fixed component of the customer’s interest rate swap. The Company has an agreement with its counterparty that contains a provision that provides that if the Company fails to maintain its status as a well-capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreement. This agreement also requires that the Company and the counterparty collateralize any fair value shortfalls that exceed $250,000 with eligible collateral, which includes cash and securities backed with the full faith and credit of the federal government. Similarly, the Company could be required to settle its obligations under the agreement if specific regulatory events occur, such as if the Company were issued a prompt corrective action directive or a cease and desist order, or if certain regulatory ratios fall below specified levels. | |||||||||||
The interest rate swap agreements with our customers and the counterparty are not designated as hedging instruments under the Derivatives and Hedging topic of the FASB ASC 815, rather they are accounted for as free standing derivatives with changes in fair value reported in income. The Company had interest rate swaps with an aggregate notional amount of $25.8 million and zero at December 31, 2013 and December 31, 2012, respectively. At December 31, 2013, the notional amount of interest rate swaps is made up of two swaps totaling $12.9 million variable to fixed rate swap to a commercial loan customer and two swaps totaling $12.9 million fixed to variable rate swap with a counterparty. Changes in fair value from these four interest rate swaps offset each other in the 2013. Additionally, the Company recognized $180,000 in fee income related to interest rate swaps in 2013 and did not recognize any fee income related to interest rate swaps in 2012 or 2011. Interest rate swap income is recorded in other income on the Consolidated Statements of Income. | |||||||||||
The following table presents the fair value of derivatives not designated as hedging instruments at December 31, 2013 and December 31, 2012: | |||||||||||
(In thousands) | Asset Derivatives | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet Location | Fair Value | Fair Value | |||||||||
Interest rate contracts | Other assets | $186 | $— | ||||||||
(In thousands) | Liability Derivatives | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet Location | Fair Value | Fair Value | |||||||||
Interest rate contracts | Other Liabilities | $186 | $— | ||||||||
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2013 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' |
Common Stock | ' |
Common Stock | |
Quarterly cash dividends were paid aggregating to $4.2 million, $3.7 million, and $3.3 million, or $0.64 per share, $0.56 per share, and $0.50 per share, in 2013, 2012, and 2011, respectively. On February 20, 2014, the Board of Directors declared a $0.17 per share cash dividend payable on March 21, 2014, to shareholders of record on March 13, 2014. Federal and State regulations place certain limitations on the payment of dividends by the Company. | |
In September 2002, the Company’s Board of Directors approved a plan whereby it would periodically repurchase for cash up to approximately 5% of its shares of common stock in the open market. At December, 31, 2013, there are 227,242 shares available under the stock repurchase program. The Company intends to continue to repurchase its stock from time to time depending upon market conditions, the Company can make no assurances that it will continue this program or that it will repurchase all of the authorized shares. No repurchases occurred during 2013 and 2012. |
Stock_Based_Compensation_Notes
Stock Based Compensation (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Stock Based Compensation | ' | |||||||||||
Stock Based Compensation | ||||||||||||
The Company adopted the 2010 Stock Option Plan (“2010 Plan”) following shareholder approval of the 2010 Plan at the 2010 Annual Meeting. Subsequent to the adoption of the 2010 Plan, no additional grants may be issued under the prior plans. The 2010 Plan provides for grants of up to 348,232 shares, which includes any shares subject to stock awards under the previous stock option plans. | ||||||||||||
Stock Options: Under the 2010 Plan and previous plans, certain key employees have been granted the option to purchase set amounts of common stock at the market price on the day the option was granted. Optionees, at their own discretion, may cover the cost of exercise through the exchange at the then fair value of already owned shares of the Company’s stock. Options are granted for a 10-year period and vest on a pro-rata basis over the initial three years from grant. | ||||||||||||
The Company measures the fair value of each stock option at the date of grant using the Black-Scholes option pricing model using assumptions noted in the following table. Expected volatility is based on the historical volatility of the price of the Company’s common stock. The Company uses historical data to estimate option exercise and stock option forfeiture rates within the valuation model. The expected term of options granted is determined based on historical experience with similar options and represents the period of time that options granted are expected to be outstanding. The expected dividend yield is based on dividend trends and the market value of the Company’s common stock at the time of grant. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. | ||||||||||||
The following assumptions were used to determine the fair value of stock options as of the grant date to determine compensation expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
Stock Options: | 2013 | 2012 | 2011 | |||||||||
Grant date fair value | $5.59 | $4.42 | $4.01 | |||||||||
Expected life of options | 8 years | 8 years | 8 years | |||||||||
Risk-free interest rate | 2.3 | % | 1.3 | % | 1.4 | % | ||||||
Dividend yield rate | 2.9 | % | 2.8 | % | 2.83 | % | ||||||
Price volatility | 28.89 | % | 28.51 | % | 28.56 | % | ||||||
The following table summarizes stock options activity during 2013: | ||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life, in Years | ||||||||||
Outstanding at January 1, 2013 | 203,125 | $20.76 | ||||||||||
Granted | 13,843 | 23.74 | ||||||||||
Forfeited | — | — | ||||||||||
Exercised | (11,482 | ) | 14.38 | |||||||||
Outstanding at December 31, 2013 | 205,486 | $21.32 | 4.63 | |||||||||
The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on December 31, 2013 and the exercise price, times the number of shares) that would have been received by the option holders had all the option holders exercised their options on December 31, 2013. This amount changes based on the fair value of the Company’s stock. The total intrinsic value of options exercised for the years ended December 31, 2013, 2012, and 2011 was $92,000, $550,000, and $332,000, respectively. | ||||||||||||
Proceeds from the exercise of stock options and vesting of restricted stock in 2013, 2012, and 2011 were $165,000, $840,000, and $496,000 respectively. The Company withheld $170,000, $888,000, and $515,000 to pay for stock option exercises or income taxes that resulted from the exercise of stock options in 2013, 2012, and 2011, respectively. | ||||||||||||
For the year ended December 31, 2013, 2012 and 2011, the Company recognized $87,000, $61,000, and $82,000, respectively, in stock option compensation expense as a component of salaries and other personnel expense. As of December 31, 2013 there was approximately $130,000 of total unrecognized compensation expense related to non-vested options which is expected to be recognized over the weighted-average period of 2.2 years. | ||||||||||||
Restricted Stock Units: The Company grants restricted stock units to certain key employees periodically. Recipients of restricted stock units do not pay any cash consideration to the Company for the shares and receive all dividends with respect to such shares when the shares vest. Restricted stock units cliff vest at the end of a three-year time period. | ||||||||||||
The following table summarizes restricted stock unit activity during 2013: | ||||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | Weighted Average Remaining Contractual Life, in Years | ||||||||||
Outstanding at January 1, 2013 | 64,177 | $18.96 | ||||||||||
Granted | 21,712 | 23.74 | ||||||||||
Vested | (26,771 | ) | 18.26 | |||||||||
Forfeited | — | — | ||||||||||
Outstanding at December 31, 2013 | 59,118 | $21.03 | 1.93 | |||||||||
The total intrinsic value of restricted stock units vested for the years ended December 31, 2013, 2012, and 2011 was $667,000, $556,000, and $567,000, respectively. | ||||||||||||
For the year ended December 31, 2013, 2012 and 2011, the Company recognized $419,000, $393,000, and $437,000, respectively, in restricted stock unit compensation expense as a component of salaries and other personnel expense. As of December 31, 2013, there was approximately $875,000 of total unrecognized compensation expense related to non-vested options which is expected to be recognized over the weighted-average period of 2.2 years. |
Regulatory_Matters_Notes
Regulatory Matters (Notes) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||
Regulatory Matters | ' | ||||||||||||||||||||
Regulatory Matters | |||||||||||||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory practices. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgment by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||
Federal banking agencies have established minimum amounts and ratios of total and Tier I capital to risk-weighted assets, and of Tier I capital to average assets. The regulations set forth the definitions of capital, risk-weighted and average assets. Management believes, as of December 31, 2013, that the Company and the Bank met all capital adequacy requirements. | |||||||||||||||||||||
The tables below illustrate the capital requirements for the Company and the Bank and the actual capital ratios for each entity that exceed these requirements. Management intends to maintain a Tier 1 risk-based capital ratio for the Bank in excess of 10% in 2014, exceeding the FDIC’s “well-capitalized” capital requirement classification. The dividends that the Bank pays to the Company are limited to the extent necessary for the Bank to meet the regulatory requirements of a “well-capitalized” bank. The capital ratios for the Company exceed those for the Bank primarily because the $18 million trust preferred securities offerings that the Company completed in the second quarter of 2003 and in the fourth quarter of 2005 are included in the Company’s capital for regulatory purposes although they are accounted for as a liability in its financial statements. The trust preferred securities are not accounted for on the Bank’s financial statements nor are they included in its capital. As a result, the Company has $18 million more in regulatory capital than the Bank at December 31, 2013 and 2012, which explains most of the difference in the capital ratios for the two entities. | |||||||||||||||||||||
Northrim BanCorp, Inc. | Actual | Adequately-Capitalized | Well-Capitalized | ||||||||||||||||||
(In Thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $168,587 | 16.61 | % | $81,198 | ≥ 8 | % | $101,497 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $155,851 | 15.35 | % | $40,613 | ≥ 4 | % | $60,919 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $155,851 | 13.06 | % | $47,734 | ≥ 4 | % | $59,667 | ≥ 5 | % | ||||||||||||
As of December 31, 2012: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $158,820 | 16.6 | % | $76,540 | ≥ 8 | % | $95,675 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $146,802 | 15.34 | % | $38,280 | ≥ 4 | % | $57,419 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $146,802 | 12.99 | % | $45,205 | ≥ 4 | % | $56,506 | ≥ 5 | % | ||||||||||||
Northrim Bank | Actual | Adequately-Capitalized | Well-Capitalized | ||||||||||||||||||
(In Thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $151,308 | 15 | % | $80,698 | ≥ 8 | % | $100,872 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $138,650 | 13.75 | % | $40,335 | ≥ 4 | % | $60,502 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $138,650 | 11.68 | % | $47,483 | ≥ 4 | % | $59,354 | ≥ 5 | % | ||||||||||||
As of December 31, 2012: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $143,684 | 15.12 | % | $76,023 | ≥ 8 | % | $95,029 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $131,748 | 13.87 | % | $37,995 | ≥ 4 | % | $56,993 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $131,748 | 11.74 | % | $44,889 | ≥ 4 | % | $56,111 | ≥ 5 | % | ||||||||||||
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
At December 31, 2013 and 2012, the Company had $1.5 million and $1.4 million in total taxes receivable, respectively. The Company realized $955,000, $896,000, and $879,000 in tax credits related to its investments in low income housing tax credit partnerships for 2013, 2012, and 2011 respectively. Additionally, in 2012, the Company purchased and utilized $398,000, respectively, in Alaska film tax credits from the State of Alaska. | ||||||||||||
Components of the provision for income taxes are as follows: | ||||||||||||
(In Thousands) | Current Tax Expense (Benefit) | Deferred (Benefit) | Total Expense | |||||||||
2013:00:00 | ||||||||||||
Federal | $3,227 | $1,034 | $4,261 | |||||||||
State | 835 | 181 | 1,016 | |||||||||
Total | $4,062 | $1,215 | $5,277 | |||||||||
2012:00:00 | ||||||||||||
Federal | $4,169 | $750 | $4,919 | |||||||||
State | 1,106 | 131 | 1,237 | |||||||||
Total | $5,275 | $881 | $6,156 | |||||||||
2011:00:00 | ||||||||||||
Federal | $4,941 | ($816 | ) | $4,125 | ||||||||
State | 891 | (143 | ) | 748 | ||||||||
Total | $5,832 | ($959 | ) | $4,873 | ||||||||
The actual expense for 2013, 2012, and 2011, differs from the “expected” tax expense (computed by applying the U.S. Federal Statutory Tax Rate of 35% for the year ended December 31, 2013, 2012, and 2011) as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||||
Computed “expected” income tax expense | $6,192 | $6,864 | $5,695 | |||||||||
State income taxes, net | 660 | 803 | 486 | |||||||||
Low income housing credits | (955 | ) | (896 | ) | (879 | ) | ||||||
Other | (620 | ) | (615 | ) | (429 | ) | ||||||
Total | $5,277 | $6,156 | $4,873 | |||||||||
The components of the net deferred tax asset are as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||||
Deferred Tax Asset: | ||||||||||||
Allowance for loan losses | $6,543 | $6,650 | $6,750 | |||||||||
Loan fees, net of costs | 1,653 | 1,411 | 1,247 | |||||||||
Depreciation and amortization | 446 | 537 | 636 | |||||||||
Other real estate owned | 174 | 1,381 | 1,159 | |||||||||
Deferred Compensation | 1,665 | 1,973 | 2,059 | |||||||||
Other | 1,629 | 1,531 | 1,597 | |||||||||
Total Deferred Tax Asset | $12,110 | $13,483 | $13,448 | |||||||||
Deferred Tax Liability: | ||||||||||||
Unrealized gain on available-for-sale investment securities | ($451 | ) | ($955 | ) | ($197 | ) | ||||||
Intangible amortization | (1,949 | ) | (1,807 | ) | (1,675 | ) | ||||||
Other | (934 | ) | (730 | ) | (704 | ) | ||||||
Total Deferred Tax Liability | ($3,334 | ) | ($3,492 | ) | ($2,576 | ) | ||||||
Net Deferred Tax Asset | $8,776 | $9,991 | $10,872 | |||||||||
A valuation allowance is provided when it is more likely than not that some portion of the deferred tax asset will not be realized. The primary source of recovery of the deferred tax asset will be future taxable income. Management believes it is more likely than not that the results of future operations will generate sufficient taxable income to realize the deferred tax asset. The deferred tax asset is included in other assets. | ||||||||||||
As of December 31, 2013, the Company had no unrecognized tax benefits. Our policy is to recognize interest and penalties on unrecognized tax benefits in “Provision for income taxes” in the Consolidated Statements of Income. There were no amounts related to interest and penalties recognized for the years ended December 31, 2013, 2012, and 2011. The tax years subject to examination by federal and state taxing authorities are the years ending December 31, 2013, 2012, 2011, and 2010. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: | ||||||||||||||||||||
• | Level 1: Valuation is based upon quoted prices for identical instruments traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||||
• | Level 2: Valuation is based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||||||
• | Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s estimation of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. | |||||||||||||||||||
The following methods and assumptions were used to estimate fair value disclosures. All financial instruments are held for other than trading purposes. | ||||||||||||||||||||
Cash and cash equivalents: Due to the short term nature of these instruments, the carrying amounts reported in the balance sheet represent their fair values. | ||||||||||||||||||||
Investment securities: 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. Investments in Federal Home Loan Bank stock are recorded at cost, which also represents fair value. | ||||||||||||||||||||
Loans held for sale: Due to the short term nature of these instruments, the carrying amounts reported in the balance sheet represent their fair values. | ||||||||||||||||||||
Loans: Fair values were generally determined by discounting both principal and interest cash flows on pools of loans expected to be collected using a discount rate for similar instruments with adjustments that the Company believes a market participant would consider in determining fair value. The Company estimates the cash flows expected to be collected using internal credit risk, interest rate and prepayment risk models that incorporate the Corporation’s best estimate of current key assumptions, such as default rates, loss severity and prepayment speeds for the life of the loan. The carrying value of loans is presented net of the Allowance (see Note 7). Impaired loans are carried at fair value. Specific valuation allowances are included in the Allowance. | ||||||||||||||||||||
Purchased receivables: Fair values for purchased receivables are based on their carrying amounts due to their short duration and repricing frequency. Generally, purchased receivables have a duration of less than one year. | ||||||||||||||||||||
Accrued interest receivable: Due to the short term nature of these instruments, the carrying amounts reported in the balance sheet represent their fair values. | ||||||||||||||||||||
Deposits: The fair value for deposits with stated maturities was determined by discounting contractual cash flows using current market rates for instruments with similar maturities. For deposits with no stated maturities, the carrying value was considered to approximate fair value and does not take into account the significant value of the cost advantage and stability of the Company's long-term relationships with depositors. | ||||||||||||||||||||
Accrued interest payable: Due to the short term nature of these instruments, the carrying amounts reported in the balance sheet represent their fair values. | ||||||||||||||||||||
Securities sold under repurchase agreements: Fair values for securities sold under repurchase agreements are based on their carrying amounts due to their short duration and repricing frequency. | ||||||||||||||||||||
Borrowings: Due to the short term nature of these instruments, the carrying amount of short-term borrowings reported in the balance sheet approximate the fair value. Fair values for long-term borrowings are estimated using a discounted cash flow calculation that applies currently offered interest rates to a schedule of aggregate expected monthly payments. | ||||||||||||||||||||
Junior subordinated debentures: Fair value adjustments for junior subordinated debentures are based on discounted cash flows to maturity using current interest rates for similar financial instruments. Management utilized a market approach to determine the appropriate discount rate for junior subordinated debentures. | ||||||||||||||||||||
Interest Rate Contracts: Interest rate swap contracts are valued in a model, which uses as its basis a discounted cash flow technique incorporating credit valuation adjustments to reflect nonperformance risk in the measurement of fair value. Although the Bank has determined that the majority of inputs used to value its interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2013, the Bank has assessed the significance of the impact of these adjustments on the overall valuation of its interest rate swap positions and has determined that the they are not significant to the overall valuation of its interest rate swap derivatives. As a result, the Bank has classified its interest rate swap derivative valuations in Level 2 of the fair value hierarchy. | ||||||||||||||||||||
Assets subject to nonrecurring adjustment to fair value: The Company is also required to measure certain assets such as equity method investments, goodwill, intangible assets, impaired loans, and other real estate owned (“OREO”) at fair value on a nonrecurring basis in accordance with GAAP. Any nonrecurring adjustments to fair value usually result from the write down of individual assets. | ||||||||||||||||||||
The Company uses either in-house evaluations or external appraisals to estimate the fair value of OREO and impaired loans as of each reporting date. In-house appraisals are considered Level 3 inputs and external appraisals are considered Level 2 inputs. The Company’s determination of which method to use is based upon several factors. The Company takes into account compliance with legal and regulatory guidelines, the amount of the loan, the size of the assets, the location and type of property to be valued and how critical the timing of completion of the analysis is to the assessment of value. Those factors are balanced with the level of internal expertise, internal experience and market information available, versus external expertise available such as qualified appraisers, brokers, auctioneers and equipment specialists. | ||||||||||||||||||||
The Company uses external sources to estimate fair value for projects that are not fully constructed as of the date of valuation. These projects are generally valued as if complete, with an appropriate allowance for cost of completion, including contingencies developed from external sources such as vendors, engineers and contractors. The Company believes that recording other real estate owned that is not fully constructed based on as if complete values is more appropriate than recording other real estate owned that is not fully constructed using as is values. We concluded that as-is-complete values are appropriate for these types of projects based on the accounting guidance for capitalization of project costs and subsequent measurement of the value of real estate. GAAP specifically states that estimates and cost allocations must be reviewed at the end of each reporting period and reallocated based on revised estimates. The Company adjusts the carrying value of other real estate owned in accordance with this guidance for increases in estimated cost to complete that exceed the fair value of the real estate at the end of each reporting period. | ||||||||||||||||||||
Commitments to extend credit and standby letters of credit: The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligation with the counterparties at the reporting date. | ||||||||||||||||||||
Limitations: Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | ||||||||||||||||||||
Estimated fair values as of the periods indicated are as follows: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
(In Thousands) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||
Financial assets: | ||||||||||||||||||||
Level 1 inputs: | ||||||||||||||||||||
Cash, due from banks and deposits in other banks | $99,091 | $99,091 | $154,813 | $154,813 | ||||||||||||||||
Investment securities | 20,487 | 20,487 | — | — | ||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Investment securities | 232,305 | 232,458 | 208,634 | 208,863 | ||||||||||||||||
Accrued interest receivable | 2,729 | 2,729 | 2,618 | 2,618 | ||||||||||||||||
Interest rate contracts | 186 | 186 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Loans and loans held for sale, net | 765,035 | 769,570 | 699,510 | 696,951 | ||||||||||||||||
Purchased receivables, net | 16,025 | 16,025 | 19,022 | 19,022 | ||||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Deposits | $1,003,723 | $1,003,816 | $970,129 | $969,958 | ||||||||||||||||
Securities sold under repurchase agreements | 21,143 | 21,143 | 19,038 | 19,038 | ||||||||||||||||
Borrowings | 6,527 | 6,448 | 4,479 | 4,193 | ||||||||||||||||
Accrued interest payable | 52 | 52 | 47 | 47 | ||||||||||||||||
Interest rate contracts | 186 | 186 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Junior subordinated debentures | 18,558 | 15,456 | 18,558 | 18,590 | ||||||||||||||||
Unrecognized financial instruments: | ||||||||||||||||||||
Commitments to extend credit(1) | $187,931 | $1,879 | $208,328 | $2,083 | ||||||||||||||||
Standby letters of credit(1) | 6,463 | 65 | 22,132 | 221 | ||||||||||||||||
(1) Carrying amounts reflect the notional amount of credit exposure under these financial instruments. | ||||||||||||||||||||
The following table sets forth the balances as of the periods indicated of assets measured at fair value on a recurring basis: | ||||||||||||||||||||
(In Thousands) | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Available for sale securities | ||||||||||||||||||||
U.S. Treasury and government sponsored entities | $168,702 | $5,538 | $163,164 | $— | ||||||||||||||||
Municipal securities | 20,149 | 419 | 19,730 | — | ||||||||||||||||
U.S. Agency mortgage-backed securities | 25 | — | 25 | — | ||||||||||||||||
Corporate bonds | 56,778 | 11,496 | 45,282 | — | ||||||||||||||||
Preferred stock | 3,034 | 3,034 | — | — | ||||||||||||||||
Total available for sale securities | $248,688 | $20,487 | $228,201 | $— | ||||||||||||||||
Other assets (interest rate contracts) | $186 | $— | $186 | $— | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Other liabilities (interest rate contracts) | $186 | $— | $186 | $— | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Available for sale securities | ||||||||||||||||||||
U.S. Treasury and government sponsored entities | $124,414 | $— | $124,414 | $— | ||||||||||||||||
Municipal securities | 21,728 | — | 21,728 | — | ||||||||||||||||
U.S. Agency mortgage-backed securities | 36 | — | 36 | — | ||||||||||||||||
Corporate bonds | 53,982 | — | 53,982 | — | ||||||||||||||||
Preferred stock | 3,758 | — | 3,758 | — | ||||||||||||||||
Total | $203,918 | $— | $203,918 | $— | ||||||||||||||||
For 2013 and 2012, no impairment or valuation adjustment was recognized for assets recognized at fair value on a nonrecurring basis, except for certain assets as shown in the following table. For loans measured for impairment, the Company classifies fair value measurements using observable inputs, such as external appraisals, as Level 2 valuations in the fair value hierarchy, and unobservable inputs, such as in-house evaluations, as Level 3 valuations in the fair value hierarchy. | ||||||||||||||||||||
(In Thousands) | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total (gains) losses | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Loans measured for impairment | $187 | $— | $— | $187 | $11 | |||||||||||||||
Other real estate owned | 736 | — | — | 736 | 112 | |||||||||||||||
Total | $923 | $— | $— | $923 | $123 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Loans measured for impairment | $105 | $— | $— | $105 | $39 | |||||||||||||||
Other real estate owned | 1,536 | — | — | 1,536 | 469 | |||||||||||||||
Total | $1,641 | $— | $— | $1,641 | $508 | |||||||||||||||
Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||
The following table provides a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at December 31, 2013: | ||||||||||||||||||||
Financial Instrument | Valuation Technique | Unobservable Input | Weighted Average Rate Range | |||||||||||||||||
Loans measured for impairment | In-house valuation of real estate; discounted cash flow | Discount rate | 25 | % | ||||||||||||||||
Cash flows | NA(1) | |||||||||||||||||||
Other real estate owned | Fair value of collateral | Estimated capital costs to complete improvements | 10% - 25% | |||||||||||||||||
(1) Fair value of impaired collateral dependent loans was calculated using contractual cash flows for specific impaired loan. |
Quarterly_Results_Of_Operation
Quarterly Results Of Operations (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Quarterly Results Of Operations | ' | |||||||||||||||
Quarterly Results of Operations (Unaudited) | ||||||||||||||||
2013 Quarter Ended | Dec. 31 | Sept. 30 | 30-Jun | 31-Mar | ||||||||||||
(In Thousands Except Per Share Amounts) | ||||||||||||||||
Total interest income | $12,018 | $11,524 | $11,440 | $11,092 | ||||||||||||
Total interest expense | 497 | 502 | 511 | 530 | ||||||||||||
Net interest income | 11,521 | 11,022 | 10,929 | 10,562 | ||||||||||||
Provision (benefit) for loan losses | — | (785 | ) | — | 150 | |||||||||||
Other operating income | 2,802 | 3,243 | 3,702 | 3,139 | ||||||||||||
Other operating expense | 10,702 | 10,076 | 9,391 | 9,697 | ||||||||||||
Income before provision for income taxes | 3,621 | 4,974 | 5,240 | 3,854 | ||||||||||||
Provision for income taxes | 1,042 | 1,510 | 1,635 | 1,090 | ||||||||||||
Net Income | 2,579 | 3,464 | 3,605 | 2,764 | ||||||||||||
Less: Net income attributable to the noncontrolling interest | (102 | ) | (10 | ) | 109 | 90 | ||||||||||
Net income attributable to Northrim Bancorp | $2,681 | $3,474 | $3,496 | $2,674 | ||||||||||||
Earnings per share, basic | $0.41 | $0.53 | $0.54 | $0.41 | ||||||||||||
Earnings per share, diluted | $0.40 | $0.53 | $0.53 | $0.41 | ||||||||||||
2012 Quarter Ended | Dec. 31 | Sept. 30 | 30-Jun | 31-Mar | ||||||||||||
(In Thousands Except Per Share Amounts) | ||||||||||||||||
Total interest income | $11,349 | $11,204 | $11,123 | $11,052 | ||||||||||||
Total interest expense | 569 | 611 | 627 | 698 | ||||||||||||
Net interest income | 10,780 | 10,593 | 10,496 | 10,354 | ||||||||||||
Provision for loan losses | (300 | ) | (1,437 | ) | 89 | 89 | ||||||||||
Other operating income | 4,343 | 4,157 | 3,725 | 3,207 | ||||||||||||
Other operating expense | 10,555 | 9,992 | 9,295 | 9,758 | ||||||||||||
Income before provision for income taxes | 4,868 | 6,195 | 4,837 | 3,714 | ||||||||||||
Provision for income taxes | 1,588 | 1,991 | 1,551 | 1,026 | ||||||||||||
Net Income | 3,280 | 4,204 | 3,286 | 2,688 | ||||||||||||
Less: Net income attributable to the noncontrolling interest | 118 | 138 | 144 | 112 | ||||||||||||
Net income attributable to Northrim Bancorp | $3,162 | $4,066 | $3,142 | $2,576 | ||||||||||||
Earnings per share, basic | $0.49 | $0.63 | $0.49 | $0.40 | ||||||||||||
Earnings per share, diluted | $0.48 | $0.62 | $0.48 | $0.39 | ||||||||||||
Parent_Company_Information_Not
Parent Company Information (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Parent Company Information | ' | |||||||||||
Parent Company Information | ||||||||||||
Balance Sheets at December 31, | 2013 | 2012 | ||||||||||
(In Thousands) | ||||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $10,121 | $8,749 | ||||||||||
Investment securities available for sale | 3,034 | 3,757 | ||||||||||
Investment in Northrim Bank | 144,799 | 138,936 | ||||||||||
Investment in NISC | 1,502 | 1,491 | ||||||||||
Investment in NCT1 | 248 | 248 | ||||||||||
Investment in NST2 | 310 | 310 | ||||||||||
Due from NISC | 341 | 414 | ||||||||||
Other assets | 2,354 | 913 | ||||||||||
Total Assets | $162,709 | $154,818 | ||||||||||
Liabilities | ||||||||||||
Junior subordinated debentures | $18,558 | $18,558 | ||||||||||
Other liabilities | — | — | ||||||||||
Total Liabilities | 18,558 | 18,558 | ||||||||||
Shareholders' Equity | ||||||||||||
Common stock | 6,538 | 6,512 | ||||||||||
Additional paid-in capital | 54,089 | 53,638 | ||||||||||
Retained earnings | 82,855 | 74,742 | ||||||||||
Accumulated other comprehensive income | 669 | 1,368 | ||||||||||
Total Shareholders' Equity | 144,151 | 136,260 | ||||||||||
Total Liabilities and Shareholders' Equity | $162,709 | $154,818 | ||||||||||
Statements of Income for Years Ended: | 2013 | 2012 | 2011 | |||||||||
(In Thousands) | ||||||||||||
Income | ||||||||||||
Interest income | $208 | $198 | $51 | |||||||||
Net income from Northrim Bank | 13,645 | 13,950 | 12,442 | |||||||||
Net income from NISC | 37 | 35 | 17 | |||||||||
Other income | 170 | 209 | 92 | |||||||||
Total Income | $14,060 | $14,392 | $12,602 | |||||||||
Expense | ||||||||||||
Interest expense | 459 | 493 | 466 | |||||||||
Administrative and other expenses | 2,387 | 1,646 | 1,737 | |||||||||
Total Expense | 2,846 | 2,139 | 2,203 | |||||||||
Income Before Benefit from Income Taxes | 11,214 | 12,253 | 10,399 | |||||||||
Benefit from income taxes | (1,111 | ) | (693 | ) | (999 | ) | ||||||
Net Income | $12,325 | $12,946 | $11,398 | |||||||||
Statements of Cash Flows for Years Ended: | 2013 | 2012 | 2011 | |||||||||
(In Thousands) | ||||||||||||
Operating Activities: | ||||||||||||
Net income | $12,325 | $12,946 | $11,398 | |||||||||
Adjustments to Reconcile Net Income to Net Cash: | ||||||||||||
Equity in undistributed earnings from subsidiaries | (13,683 | ) | (13,985 | ) | (12,461 | ) | ||||||
Stock-based compensation | 506 | 454 | 519 | |||||||||
Changes in other assets and liabilities | (60 | ) | 79 | (852 | ) | |||||||
Net Cash Used from Operating Activities | (912 | ) | (506 | ) | (1,396 | ) | ||||||
Investing Activities: | ||||||||||||
Investment in securities available for sale | 525 | (2,527 | ) | (999 | ) | |||||||
Investment in Northrim Bank, NISC, NCT1 & NST2 | 5,874 | 7,921 | 7,040 | |||||||||
Net Cash Used from Investing Activities | 6,399 | 5,394 | 6,041 | |||||||||
Financing Activities: | ||||||||||||
Dividends paid to shareholders | (4,215 | ) | (3,676 | ) | (3,264 | ) | ||||||
Proceeds from issuance of common stock and excess tax benefits | 100 | 233 | 171 | |||||||||
Net Cash Provided by Financing Activities | (4,115 | ) | (3,443 | ) | (3,093 | ) | ||||||
Net Increase by Cash and Cash Equivalents | 1,372 | 1,445 | 1,552 | |||||||||
Cash and Cash Equivalents at beginning of year | 8,749 | 7,304 | 5,752 | |||||||||
Cash and Cash Equivalents at end of year | $10,121 | $8,749 | $7,304 | |||||||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' | |||||||||
Method Of Accounting | ' | |||||||||
Method of Accounting: The Company prepares its consolidated financial statements in conformity with accounting principles generally accepted in the United States and prevailing practices within the banking industry. The Company utilizes the accrual method of accounting which recognizes income and gains when earned and expenses and losses when incurred. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income, gains, expenses, and losses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the allowance for loan losses (“Allowance”), valuation of goodwill and other intangibles, and valuation of other real estate owned (“OREO”). The consolidated financial statements include the financial information for Northrim BanCorp, Inc. and its wholly-owned subsidiaries that include the Bank, Northrim Building LLC (“NBL”), and Northrim Investment Services Company (“NISC”). All intercompany balances have been eliminated in consolidation. The Company accounts for its investments in RML, ECCM, ECIA, and PWA using the equity method. Noncontrolling interest relates to the minority ownership in NBG. | ||||||||||
Consolidation, Variable Interest Entity, Policy | ' | |||||||||
Variable interest entities (“VIEs”): The Company consolidates affiliates in which we have a controlling interest. To determine if we have a controlling financial interest in an entity we first evaluate if we are required to apply the variable interest entity model, otherwise the entity is evaluated under the voting interest model. The Company continuously evaluates its non-majority owned investments in affiliates to determine if they are VIEs. Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses, we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. When changes occur to the design of an entity we reconsider whether it is subject to the VIE model. We continuously evaluate whether we have a controlling financial interest in a VIE. We hold a controlling financial interest in other entities where we currently hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through substantive participating rights or as a general partner. Where we are a general partner we consider substantive removal rights held by other partners in determining if we hold a controlling financial interest. We reevaluate whether we have a controlling financial interest in these entities when our voting or substantive participating rights change. | ||||||||||
Affiliates are unconsolidated VIEs and other entities in which we do not have a controlling financial interest, but over which we have significant influence, most often because we hold a voting interest of 20% to 50%. Affiliates are accounted for as equity method investments. | ||||||||||
The Company owns a 50.1% interest in NBG and consolidates NBG's balance sheet and income statement into its financial statements. | ||||||||||
The Company does not consolidate the balance sheets and income statements of ECCM, ECIA, PWA, or RML into its financial statements. The Company has determined that ECIA, PWA, and RML are not VIEs. The Company has determined that ECCM is a VIE. However, the Company does not have a controlling interest in ECCM and therefore does not consolidate ECCM's balance sheet and income statement into its financial statements. Results of affiliated companies that are not consolidated are presented on a one-line basis. Results of RML are reported in "Equity in earnings from RML", and results of ECCM, ECIA, and PWA are included in "Other income" in our Consolidated Statements of Income. Investments in, and advances to, associated companies are presented on a one-line basis in the caption “Other assets” in our Consolidated Balance Sheets". | ||||||||||
Reclassifications | ' | |||||||||
Reclassifications: Certain reclassifications have been made to prior year amounts to maintain consistency with the current year with no impact on net income or total shareholders’ equity | ||||||||||
Subsequent Events | ' | |||||||||
Subsequent Events: The Company has evaluated events and transactions subsequent to December 31, 2013 for potential recognition or disclosure. | ||||||||||
Segments | ' | |||||||||
Segments: Management has determined that the Company operates as a single operating segment. This determination is based on the fact that management and the board reviews financial information and assesses resource allocation on a consolidated basis. Additionally, the revenue earned through, and total assets of, the insurance brokerage, mortgage lending, and wealth management activities are each less than 10% of the Company’s consolidated total revenue and total assets. | ||||||||||
Cash And Cash Equivalents | ' | |||||||||
Cash and Cash Equivalents: For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits with other banks, banker’s acceptances, commercial paper, securities purchased under agreement to resell, federal funds sold, and securities with maturities of less than 90 days at acquisition. | ||||||||||
Investment Securities | ' | |||||||||
Investment Securities: Securities available for sale are stated at fair value with unrealized holding gains and losses, net of tax, excluded from earnings and reported as a separate component of other comprehensive income, unless an unrealized loss is deemed other than temporary. Gains and losses on available for sale securities sold are determined on a specific identification basis. | ||||||||||
Held to maturity securities are stated at cost, adjusted for amortization of premium and accretion of discount on a level-yield basis. The Company has the ability and intent to hold these securities to maturity. | ||||||||||
A decline in the market value of any available for sale or held to maturity security below cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. Unrealized investment securities losses are evaluated at least quarterly on a specific identification basis to determine whether such declines in value should be considered "other than temporary" and therefore be subject to immediate loss recognition in income. Although these evaluations involve significant judgment, an unrealized loss in the fair value of a debt security is generally deemed to be temporary when the fair value of the security is below the carrying value primarily due to changes in interest rates and there has not been significant deterioration in the financial condition of the issuer. The Company does not intend to sell, nor is it more likely than not that it will be required to sell, securities whose market value is less than carrying value. Because it is more likely than not that the Company will hold these investments until a market price recovery or maturity, these investments are not considered other than temporarily impaired. Other factors that may be considered in determining whether a decline in the value is "other than temporary" include the financial condition, capital strength, and near-term prospects of the issuer,; actions of commercial banks or other lenders relative to the continued extension of credit facilities to the issuer of the security; recommendations of investment advisors or market analysts; and ratings by recognized rating agencies. | ||||||||||
Federal Home Loan Bank Stock | ' | |||||||||
Federal Home Loan Bank Stock: The Company’s investment in Federal Home Loan Bank (“FHLB”) stock is carried at par value because the shares can only be redeemed with the FHLB at par. The Company is required to maintain a minimum level of investment in FHLB stock based on the Company’s capital stock and lending activity. Stock redemptions are at the discretion of the FHLB or of the Company, upon five years’ prior notice for FHLB Class B stock. FHLB stock is carried at cost and is subject to recoverability testing at least annually. | ||||||||||
Loans Held For Sale | ' | |||||||||
Loans held for sale: Loans held for sale include mortgage loans and are reported at the lower of cost or market value. Cost generally approximates market value, given the short duration of these assets. Gains or losses on the sale of loans that are held for sale are recognized at the time of sale and determined by the difference between net sale proceeds and the net book value of the loans. | ||||||||||
Loans | ' | |||||||||
Loans: Loans are carried at their principal amount outstanding, net of unamortized fees and direct loan origination costs. Interest income on loans is accrued and recognized on the principal amount outstanding except for loans in a nonaccrual status. All classes of loans are placed on nonaccrual when management believes doubt exists as to the collectability of the interest or principal. Cash payments received on nonaccrual loans are directly applied to the principal balance. Generally, a loan may be returned to accrual status when the delinquent principal and interest is brought current in accordance with the terms of the loan agreement and certain ongoing performance criteria have been met. | ||||||||||
The Company considers a loan to be impaired when it is probable that it will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once a loan is determined to be impaired, the impairment is measured based on the present value of the expected future cash flows discounted at the loan’s effective interest rate, unless the loan is collateral dependent, in which case the impairment is measured by using the fair value of the loan’s collateral. Nonperforming loans greater than $50,000 are individually evaluated for impairment based upon the borrower’s overall financial condition, resources, and payment record, and the prospects for support from any financially responsible guarantors. | ||||||||||
The Company uses either in-house evaluations or external appraisals to estimate the fair value of collateral-dependent impaired loans as of each reporting date. The Company’s determination of which method to use is based upon several factors. The Company takes into account compliance with legal and regulatory guidelines, the amount of the loan, the estimated value of the collateral, the location and type of collateral to be valued, and how critical the timing of completion of the analysis is to the assessment of value. Those factors are balanced with the level of internal expertise, internal experience, and market information available, versus external expertise available such as qualified appraisers, brokers, auctioneers, and equipment specialists. | ||||||||||
The Company uses external appraisals to estimate fair value for projects that are not fully constructed as of the date of valuation. These projects are generally valued as if complete, with an appropriate allowance for cost of completion, including contingencies developed from external sources such as vendors, engineers, and contractors. | ||||||||||
The Company classifies fair value measurements using observable inputs, such as external appraisals, as level 2 valuations in the fair value hierarchy, and fair value measurements with unobservable inputs, such as in-house evaluations, as level 3 valuations in the fair value hierarchy. | ||||||||||
When the fair value measurement of the impaired loan is less than the recorded amount of the loan, an impairment is recognized by recording a charge-off to the Allowance or by designating a specific reserve in accordance with GAAP. The Company’s policy is to record cash payments received on impaired loans that are not also nonaccrual loans in the same manner that cash payments are applied to performing loans. | ||||||||||
A loan is classified as a troubled debt restructuring ("TDR") when a borrower is experiencing financial difficulties that lead to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include interest rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. Generally, a nonaccrual loan that is restructured remains on nonaccrual status for a period of at least six months to demonstrate that the borrower can meet the restructured terms. If the borrower's performance under the new terms is not reasonably assured, the loan remains classified as a nonaccrual loan. | ||||||||||
Loan origination fees received in excess of direct origination costs are deferred and accreted to interest income using a method approximating the level-yield method over the life of the loan. | ||||||||||
Allowance For Loan Losses | ' | |||||||||
Allowance for Loan Losses: The Company maintains an Allowance to reflect inherent losses from its loan portfolio. The Allowance is decreased by loan charge-offs and increased by loan recoveries and provisions for loan losses. The Company has identified the following segments: commercial, real estate construction one-to-four family, real estate construction other, real estate term owner occupied, real estate term non-owner occupied, real estate term other, consumer loans secured by 1st deeds of trust, and other consumer loans. Then the Company further disaggregates each segment into the following classes, which are also known as asset quality ratings: pass, special mention, substandard, doubtful, and loss. | ||||||||||
In determining its total Allowance, the Company first estimates a specific allocated allowance for impaired loans. This analysis is based upon a specific analysis for each impaired loan, including appraisals and in-house evaluations on loans secured by real property, management’s assessment of the current market, recent payment history, and an evaluation of other sources of repayment. | ||||||||||
The Company then estimates a general allocated allowance for all other loans that were not impaired as of the balance sheet date using a formula-based approach that includes average historical loss factors that are adjusted for quantitative and qualitative factors. Qualitative factors are based on management’s assessment of current trends that may cause losses inherent in the current loan portfolio to differ significantly from historical losses. | ||||||||||
Finally, the Company assesses the overall adequacy of the Allowance based on several factors including the level of the Allowance as compared to total loans and nonperforming loans in light of current economic conditions. This portion of the Allowance is deemed “unallocated” because it is not allocated to any segment or class of the loan portfolio. This portion of the Allowance provides for coverage of credit losses inherent in the loan portfolio but not captured in the credit loss factors that are utilized in the risk rating-based component, or in the specific impairment component of the Allowance, and it acknowledges the inherent imprecision of all loss prediction models. Due to the subjectivity involved in the determination of the unallocated portion of the Allowance, the relationship of the unallocated component to the total Allowance may fluctuate from period to period. | ||||||||||
Based on our methodology and its components, management believes the resulting Allowance is adequate and appropriate for the risk identified in the Company's loan portfolio. While management believes that it uses the best information available to determine the Allowance, unforeseen market conditions and other events could result in adjustment to the Allowance, and net income could be significantly affected if circumstances differed substantially from the assumptions used in making the final determination. Our banking regulators, as an integral part of their examination process, periodically review the Company's Allowance. Our regulators may require the Company to recognize additions to the Allowance based on their judgments related to information available to them at the time of their examinations. | ||||||||||
Reserve For Unfunded Loan Commitments And Letters Of Credit | ' | |||||||||
Reserve for Unfunded Loan Commitments and Letters of Credit: The Company maintains a separate reserve for losses related to unfunded loan commitments and letters of credit. The determination of the adequacy of the reserve is based on periodic evaluations of the unfunded credit facilities including assessment of historical losses and current economic conditions. The allowance for unfunded loan commitments and letters of credit is included in other liabilities on the consolidated balance sheets, with changes to the balance charged against noninterest expense. | ||||||||||
Purchased Receivables | ' | |||||||||
Purchased Receivables: The Bank purchases accounts receivable at a discount from its customers. The purchased receivables are carried at cost. The discount and fees charged to the customer are earned while the balances of the purchases are outstanding, which is typically less than one year. The Company maintains a separate reserve for losses related to purchased receivable assets. The determination of the adequacy of the reserve is based on periodic evaluations of purchased receivable assets including an assessment of historical losses and current economic conditions. The reserve for purchased receivable assets is included in the balance of these accounts on a net basis on the consolidated balance sheets, with changes to the balance charged against noninterest expense. | ||||||||||
Premises And Equipment | ' | |||||||||
Premises and Equipment: Premises and equipment, including leasehold improvements, are stated at cost, less accumulated depreciation and amortization. Depreciation and amortization expense for financial reporting purposes is computed using the straight-line method based upon the shorter of the lease term or the estimated useful lives of the assets that vary according to the asset type and include; furniture and equipment ranging between 3 and 7 years, leasehold improvements ranging between 2 and 15 years, and buildings over 39 years. Maintenance and repairs are charged to current operations, while renewals and betterments are capitalized. Long-lived assets such as premises and equipment are reviewed for impairment at least annually or whenever events or changes in business circumstances indicate that the remaining useful life may warrant revision, or that the carrying amount of the long-lived asset may not be fully recoverable. If impairment is determined to exist, any related impairment loss is calculated based on fair value. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal. | ||||||||||
Intangible Assets | ' | |||||||||
Intangible Assets: In 2007, the Company recorded $1.8 million of goodwill and $1.3 million of core deposit intangible ("CDI") as part of the acquisition of Alaska First Bank & Trust, N.A. (“Alaska First”) stock. The Company amortizes the Alaska First CDI over its estimated useful life of ten years using an accelerated method. Accumulated amortization related to the Alaska First CDI was $1.1 million, $983,000, and $846,000 at December 31, 2013, 2012 and 2011, respectively. Management reviews goodwill at least annually for impairment by reviewing a number of key market indicators. Finally, the Company recorded $1.1 million in intangible assets related to customer relationships purchased in the acquisition of an additional 40.1% of NBG in December 2005. The Company amortizes this intangible over its estimated life of ten years. Accumulated amortization related to the NBG intangible asset was $943,000, $829,000, and $714,000 at December 31, 2013, 2012 and 2011, respectively. | ||||||||||
Other Real Estate Owned | ' | |||||||||
Other Real Estate Owned: Other real estate owned represents properties acquired through foreclosure or its equivalent. Prior to foreclosure, the carrying value is adjusted to the fair value, less cost to sell, of the real estate to be acquired by an adjustment to the Allowance. Management’s evaluation of fair value is based on appraisals or discounted cash flows of anticipated sales. The amount by which the fair value less cost to sell is greater than the carrying amount of the loan plus amounts previously charged off is recognized in earnings. Any subsequent reduction in the carrying value is charged against earnings. Operating expenses associated with other real estate owned are charged to earnings in the period they are incurred. | ||||||||||
Other Short Term Assets | ' | |||||||||
Low Income Housing Tax Credit Partnerships: The Company’s investments in five low-income housing partnerships are included in other assets. These partnerships are all Delaware limited partnerships and include Centerline Corporate Partners XXII, L.P. (“Centerline XXII”) Centerline Corporate Partners XXXIII, L.P. (“Centerline XXXIII”), U.S.A. Institutional Tax Credit Fund LVII L.P. (“USA 57”), WNC Institutional Tax Credit Fund 37 L.P. (“WNC”), and R4 Frontier Housing Partners L.P. ("R4"). The Company earns a return on its investments in the form of tax credits and deductions that flow through to it as a limited partner in these partnerships. The Company amortizes these investments in other operating expense over the period during which tax credits are used. | ||||||||||
Other Assets: Other assets include purchased software and prepaid expenses. Purchased software is carried at amortized cost and is amortized using the straight-line method over its estimated useful life or the term of the agreement. Also included in other assets is the net deferred tax asset and the Company’s investments in NBG, RML, ECCM, ECIA, and PWA. All of these entities are affiliates of the Company. The Company includes the income and loss from its affiliates in its financial statements on a one month lagged basis. | ||||||||||
Derivatives, Policy | ' | |||||||||
Derivatives: The Bank enters into interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net risk exposure. The Company recognizes all derivatives as either assets or liabilities in the balance sheet and requires measurement of those instruments at fair value through adjustments to current earnings. The Company offsets fair value adjustments recorded in current earnings. None of the Company’s derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, and the Company reports changes in fair values of its derivatives in current period net income. | ||||||||||
Transfers and Servicing of Financial Assets, Policy | ' | |||||||||
Transfers or sales of financial assets: For transfers of financial assets recorded as sales, we recognize and initially measure at fair value all assets obtained and liabilities incurred. We record a gain or loss in noninterest income for the difference between the carrying amount and the fair value of the assets sold. Fair values are based on quoted market prices, quoted market prices for similar assets, or if market prices are not available, then the fair value is estimated using discounted cash flow analyses with assumptions for credit losses, prepayments and discount rates that are corroborated by and verified against market observable data, where possible. | ||||||||||
Advertising | ' | |||||||||
Advertising: Advertising, promotion and marketing costs are expensed as incurred. The Company reported total expenses in these areas of $1.9 million, $2.0 million, and $1.8 million for each of the periods ending December 31, 2013, 2012, and 201 | ||||||||||
Income Taxes | ' | |||||||||
Income Taxes: The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the future consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||
Earnings Per Share | ' | |||||||||
Earnings Per Share: Earnings per share is calculated using the weighted average number of shares and dilutive common stock equivalents outstanding during the period. Stock options and restricted stock units, as described in Note 19, are considered to be common stock equivalents. Potentially dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were no anti-dilutive shares outstanding related to options to acquire common stock in 2013, 2012 or 2011. | ||||||||||
Information used to calculate earnings per share was as follows: | ||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||
Net income | $12,325 | $12,946 | $11,398 | |||||||
Basic weighted average common shares outstanding | 6,519 | 6,477 | 6,439 | |||||||
Dilutive effect of potential common shares from awards granted under equity incentive program | 91 | 98 | 116 | |||||||
Total | 6,610 | 6,575 | 6,555 | |||||||
Earnings per common share | ||||||||||
Basic | $1.89 | $2.00 | $1.77 | |||||||
Dilutive | $1.87 | $1.97 | $1.74 | |||||||
Stock Option Plans | ' | |||||||||
Stock Incentive Plans: The Company accounts for its stock incentive plans using a fair-value-based method of accounting for stock-based employee compensation plans. The Company has elected the modified prospective method for recognition of compensation cost associated with stock-based employee compensation awards. The Company amortizes stock-based compensation expense over the vesting period of each award. | ||||||||||
Comprehensive Income | ' | |||||||||
Comprehensive Income: Comprehensive income consists of net income and net unrealized gains (losses) on securities available for sale after tax effect and is presented in the consolidated statements of shareholders’ equity and comprehensive income. | ||||||||||
Concentrations | ' | |||||||||
Concentrations: Substantially all of the Company’s business is derived from the Anchorage, Matanuska-Susitna Valley, and Fairbanks areas of Alaska. As such, the Company’s growth and operations depend upon the economic conditions of Alaska and these specific markets. These areas rely primarily upon the natural resources industries, particularly oil production, as well as tourism, government and U.S. military spending for their economic success. A significant majority of the unrestricted revenues of the Alaska state government are currently funded through various taxes and royalties on the oil industry. The Company’s business is and will remain sensitive to economic factors that relate to these industries and local and regional business conditions. As a result, local or regional economic downturns, or downturns that disproportionately affect one or more of the key industries in regions served by the Company, may have a more pronounced effect upon its business than they might on an institution that is less geographically concentrated. The extent of the future impact of these events on economic and business conditions cannot be predicted; however, prolonged or acute fluctuations could have a material and adverse impact upon the Company’s results of operation and financial condition. | ||||||||||
At December 31, 2013 and 2012, the Company had $363.1 million and $327.1 million, respectively, in commercial and construction loans in Alaska. Additionally, the Company continues to have a concentration in large borrowing relationships. At December 31, 2013, 44% of the Company’s loan portfolio is attributable to 22 large borrowing relationships. The Company has additional unfunded commitments to these borrowers of $128.9 million at December 31, 2013. |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' | |||||||||
Calculation Of Earnings Per Share | ' | |||||||||
Information used to calculate earnings per share was as follows: | ||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||
Net income | $12,325 | $12,946 | $11,398 | |||||||
Basic weighted average common shares outstanding | 6,519 | 6,477 | 6,439 | |||||||
Dilutive effect of potential common shares from awards granted under equity incentive program | 91 | 98 | 116 | |||||||
Total | 6,610 | 6,575 | 6,555 | |||||||
Earnings per common share | ||||||||||
Basic | $1.89 | $2.00 | $1.77 | |||||||
Dilutive | $1.87 | $1.97 | $1.74 | |||||||
Interest_Bearing_Deposits_In_O1
Interest Bearing Deposits In Other Banks (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Interest Bearing Deposits In Other Banks [Abstract] | ' | |||||||
Interest Bearing Deposits In Other Banks | ' | |||||||
All interest bearing deposits in other banks have a maturity of one year or less. Balances at December 31 for the respective years are as follows: | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Interest bearing deposits at Federal Reserve Bank (FRB) | $51,923 | $90,224 | ||||||
Interest bearing deposits at Federal Home Loan Bank (FHLB) | 329 | 144 | ||||||
Domestic certificates of deposit at other institutions | 13,500 | 13,500 | ||||||
Other interest bearing deposits at other institutions | 227 | 10,111 | ||||||
Total | $65,979 | $113,979 | ||||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Marketable Securities [Abstract] | ' | ||||||||||||||||||
Summary Of Investment Security Carrying and Fair Value | ' | ||||||||||||||||||
The carrying values and approximate fair values of investment securities at the periods indicated are presented below: | |||||||||||||||||||
(In Thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||
December 31, 2013 | |||||||||||||||||||
Securities available for sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $168,922 | $103 | $323 | $168,702 | |||||||||||||||
Municipal securities | 19,825 | 378 | 54 | 20,149 | |||||||||||||||
U.S. Agency mortgage-backed securities | 25 | — | — | 25 | |||||||||||||||
Corporate bonds | 55,798 | 1,000 | 20 | 56,778 | |||||||||||||||
Preferred stock | 2,999 | 35 | — | 3,034 | |||||||||||||||
Total securities available for sale | $247,569 | $1,516 | $397 | $248,688 | |||||||||||||||
Securities held to maturity | |||||||||||||||||||
Municipal securities | $2,208 | $153 | $— | $2,361 | |||||||||||||||
Total securities held to maturity | $2,208 | $153 | $— | $2,361 | |||||||||||||||
December 31, 2012 | |||||||||||||||||||
Securities available for sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $123,959 | $455 | $— | $124,414 | |||||||||||||||
Municipal securities | 21,124 | 613 | 9 | 21,728 | |||||||||||||||
U.S. Agency mortgage-backed securities | 35 | 1 | — | 36 | |||||||||||||||
Corporate bonds | 52,951 | 1,081 | 50 | 53,982 | |||||||||||||||
Preferred stock | 3,524 | 234 | — | 3,758 | |||||||||||||||
Total securities available for sale | $201,593 | $2,384 | $59 | $203,918 | |||||||||||||||
Securities held to maturity | |||||||||||||||||||
Municipal securities | $2,749 | $229 | $— | $2,978 | |||||||||||||||
Total securities held to maturity | $2,749 | $229 | $— | $2,978 | |||||||||||||||
Schedule Of Gross Unrealized Losses On Investment Securities | ' | ||||||||||||||||||
Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2013 and 2012 were as follows: | |||||||||||||||||||
Less Than 12 Months | More Than 12 Months | Total | |||||||||||||||||
(In Thousands) | Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||
Value | Value | Value | |||||||||||||||||
2013:00:00 | |||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||
U.S. Treasury and government sponsored entities | $122,560 | $323 | $— | $— | $122,560 | $323 | |||||||||||||
Municipal Securities | 5,613 | 54 | — | — | 5,613 | 54 | |||||||||||||
Corporate Bonds | 6,051 | 20 | — | — | 6,051 | 20 | |||||||||||||
Total | $134,224 | $397 | $— | $— | $134,224 | $397 | |||||||||||||
2012:00:00 | |||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||
Municipal Securities | $1,265 | $9 | $— | $— | $1,265 | $9 | |||||||||||||
Corporate Bonds | 9,541 | 50 | — | — | 9,541 | 50 | |||||||||||||
Total | $10,806 | $59 | $— | $— | $10,806 | $59 | |||||||||||||
Schedule Of Amortized Cost And Fair Value By Contractual Maturity | ' | ||||||||||||||||||
The amortized cost and fair values of debt securities at December 31, 2013, are distributed by contractual maturity as shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Although preferred stock has no stated maturity, it is aggregated in the calculation of weighted average yields presented below in the category of investments that mature in ten years or more. | |||||||||||||||||||
(In Thousands) | Amortized Cost | Fair Value | Weighted Average Yield | ||||||||||||||||
US Treasury and government sponsored entities | |||||||||||||||||||
Within 1 year | $26,034 | $26,071 | 0.98 | % | |||||||||||||||
1-5 years | 142,888 | 142,631 | 0.76 | % | |||||||||||||||
Total | $168,922 | $168,702 | 0.79 | % | |||||||||||||||
U.S. Agency mortgage-backed securities | |||||||||||||||||||
5-10 years | $25 | $25 | 4.15 | % | |||||||||||||||
Total | $25 | $25 | 4.15 | % | |||||||||||||||
Corporate bonds | |||||||||||||||||||
Within 1 year | $5,198 | $5,200 | 1.08 | % | |||||||||||||||
1-5 years | 48,600 | 49,597 | 1.68 | % | |||||||||||||||
5-10 years | 2,000 | 1,981 | 1.04 | % | |||||||||||||||
Total | $55,798 | $56,778 | 1.6 | % | |||||||||||||||
Preferred stock | |||||||||||||||||||
Over 10 years | $2,999 | $3,034 | 5.61 | % | |||||||||||||||
Total | $2,999 | $3,034 | 5.61 | % | |||||||||||||||
Municipal securities | |||||||||||||||||||
Within 1 year | $6,335 | $6,353 | 1.52 | % | |||||||||||||||
1-5 years | 10,296 | 10,420 | 2.84 | % | |||||||||||||||
5-10 years | 5,402 | 5,737 | 4.78 | % | |||||||||||||||
Total | $22,033 | $22,510 | 2.93 | % | |||||||||||||||
Schedule Of Available-For-Sale Securities Proceeds, Gains, And Losses | ' | ||||||||||||||||||
The proceeds and resulting gains and losses, computed using specific identification, from sales of investment securities for the years ending December 31, 2013, 2012, and 2011, respectively, are as follows: | |||||||||||||||||||
(In Thousands) | Proceeds | Gross Gains | Gross Losses | ||||||||||||||||
2013 | |||||||||||||||||||
Available for sale securities | $23,514 | $333 | $— | ||||||||||||||||
2012 | |||||||||||||||||||
Available for sale securities | $35,466 | $336 | $— | ||||||||||||||||
2011 | |||||||||||||||||||
Available for sale securities | $21,382 | $419 | $— | ||||||||||||||||
Summary Of Interest Income On Available-For-Sale Investment Securities | ' | ||||||||||||||||||
A summary of interest income for the years ending December 31, 2013, 2012, and 2011 on available for sale investment securities is as follows: | |||||||||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | ||||||||||||||||
US Treasury and government sponsored entities | $898 | $941 | $1,637 | ||||||||||||||||
U.S. Agency mortgage-backed securities | 1 | 2 | 3 | ||||||||||||||||
Other | 1,136 | 1,280 | 951 | ||||||||||||||||
Total taxable interest income | $2,035 | $2,223 | $2,591 | ||||||||||||||||
Municipal securities | $568 | $573 | $506 | ||||||||||||||||
Total tax-exempt interest income | $568 | $573 | $506 | ||||||||||||||||
Total | $2,603 | $2,796 | $3,097 | ||||||||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Composition Of Loan Portfolio | ' | |||||||||||||||||||||||||||||||||||
The composition of the loan portfolio as of the periods indicated is as follows: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||||||
Dollar Amount | Percent of Total | Dollar Amount | Percent of Total | |||||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Commercial | $300,338 | 39 | % | $273,432 | 38.8 | % | ||||||||||||||||||||||||||||||
Real estate construction one-to-four family | 30,161 | 3.9 | % | 32,573 | 4.6 | % | ||||||||||||||||||||||||||||||
Real estate construction other | 32,599 | 4.2 | % | 21,061 | 3 | % | ||||||||||||||||||||||||||||||
Real estate term owner occupied | 91,098 | 11.8 | % | 78,107 | 11.1 | % | ||||||||||||||||||||||||||||||
Real estate term non-owner occupied | 255,324 | 33.2 | % | 234,643 | 33.3 | % | ||||||||||||||||||||||||||||||
Real estate term other | 29,976 | 3.9 | % | 31,809 | 4.5 | % | ||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust | 16,483 | 2.1 | % | 17,714 | 2.5 | % | ||||||||||||||||||||||||||||||
Consumer other | 18,058 | 2.3 | % | 18,305 | 2.6 | % | ||||||||||||||||||||||||||||||
Subtotal | $774,037 | $707,644 | ||||||||||||||||||||||||||||||||||
Less: Unearned origination fee, | ||||||||||||||||||||||||||||||||||||
net of origination costs | (4,021 | ) | (0.5 | )% | (3,431 | ) | (0.5 | )% | ||||||||||||||||||||||||||||
Total loans | $770,016 | $704,213 | ||||||||||||||||||||||||||||||||||
Loan Portfolio Segmented By Risk Class | ' | |||||||||||||||||||||||||||||||||||
The loan portfolio segmented by risk class at December 31, 2013 and 2012, respectively, is shown below: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deeds of trust | Consumer other | Total | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $293,803 | $28,227 | $31,633 | $84,191 | $251,384 | $28,684 | $15,877 | $17,694 | $751,493 | |||||||||||||||||||||||||||
AQR Special Mention | 6,022 | 1,934 | 966 | 6,235 | 2,620 | — | 397 | 196 | 18,370 | |||||||||||||||||||||||||||
AQR Substandard | 513 | — | — | 672 | 1,320 | 1,292 | 209 | 168 | 4,174 | |||||||||||||||||||||||||||
AQR Doubtful | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
AQR Loss | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Subtotal | $300,338 | $30,161 | $32,599 | $91,098 | $255,324 | $29,976 | $16,483 | $18,058 | $774,037 | |||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (4,021 | ) | ||||||||||||||||||||||||||||||||||
Total loans | $770,016 | |||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $265,562 | $28,780 | $21,061 | $73,985 | $230,010 | $28,304 | $16,911 | $17,817 | $682,430 | |||||||||||||||||||||||||||
AQR Special Mention | 6,064 | 1,282 | — | 2,522 | 2,546 | 126 | 620 | 238 | 13,398 | |||||||||||||||||||||||||||
AQR Substandard | 1,597 | 2,511 | — | 1,600 | 2,087 | 3,379 | 183 | 250 | 11,607 | |||||||||||||||||||||||||||
AQR Doubtful | 189 | — | — | — | — | — | — | — | 189 | |||||||||||||||||||||||||||
AQR Loss | 20 | — | — | — | — | — | — | — | 20 | |||||||||||||||||||||||||||
Subtotal | $273,432 | $32,573 | $21,061 | $78,107 | $234,643 | $31,809 | $17,714 | $18,305 | $707,644 | |||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (3,431 | ) | ||||||||||||||||||||||||||||||||||
Total loans | $704,213 | |||||||||||||||||||||||||||||||||||
Nonaccrual Loans By Segment | ' | |||||||||||||||||||||||||||||||||||
Nonaccrual loans at the periods indicated, by segment are presented below: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||
Commercial | $222 | $1,214 | ||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family | — | 1,264 | ||||||||||||||||||||||||||||||||||
Real estate construction other | — | — | ||||||||||||||||||||||||||||||||||
Real estate term owner occupied | — | — | ||||||||||||||||||||||||||||||||||
Real estate term non-owner occupied | 151 | 185 | ||||||||||||||||||||||||||||||||||
Real estate term other | 1,136 | 1,451 | ||||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust | 187 | 183 | ||||||||||||||||||||||||||||||||||
Consumer other | 119 | 234 | ||||||||||||||||||||||||||||||||||
Total | $1,815 | $4,531 | ||||||||||||||||||||||||||||||||||
Past Due Loans And Nonaccrual Loans | ' | |||||||||||||||||||||||||||||||||||
Past due loans and nonaccrual loans at the periods indicated are presented below by loan class: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | 30-59 Days | 60-89 Days | Greater Than | Nonaccrual | Total Past | Current | Total | |||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | Due | |||||||||||||||||||||||||||||||||
Still | Still | Still | ||||||||||||||||||||||||||||||||||
Accruing | Accruing | Accruing | ||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $672 | $— | $— | $127 | $799 | $750,694 | $751,493 | |||||||||||||||||||||||||||||
AQR Special Mention | 385 | — | — | — | 385 | 17,985 | 18,370 | |||||||||||||||||||||||||||||
AQR Substandard | — | — | — | 1,688 | 1,688 | 2,486 | 4,174 | |||||||||||||||||||||||||||||
AQR Doubtful | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
AQR Loss | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Subtotal | $1,057 | $— | $— | $1,815 | $2,872 | $771,165 | $774,037 | |||||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (4,021 | ) | ||||||||||||||||||||||||||||||||||
Total | $770,016 | |||||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
AQR Pass | $401 | $— | $— | $— | $401 | $682,029 | $682,430 | |||||||||||||||||||||||||||||
AQR Special Mention | 534 | — | — | 596 | 1,130 | 12,268 | 13,398 | |||||||||||||||||||||||||||||
AQR Substandard | — | — | — | 3,726 | 3,726 | 7,881 | 11,607 | |||||||||||||||||||||||||||||
AQR Doubtful | — | — | — | 189 | 189 | — | 189 | |||||||||||||||||||||||||||||
AQR Loss | — | — | — | 20 | 20 | — | 20 | |||||||||||||||||||||||||||||
Subtotal | $935 | $— | $— | $4,531 | $5,466 | $702,178 | $707,644 | |||||||||||||||||||||||||||||
Less: Unearned origination fees, net of origination costs | (3,431 | ) | ||||||||||||||||||||||||||||||||||
Total | $704,213 | |||||||||||||||||||||||||||||||||||
Impaired Loans | ' | |||||||||||||||||||||||||||||||||||
The following table presents information about impaired loans by class for the years ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $181 | $181 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 314 | 314 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 343 | 488 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 353 | 353 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 1,686 | 1,686 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 834 | 834 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR pass | 512 | 512 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR special mention | 484 | 484 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied- AQR substandard | 672 | 672 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR special mention | 786 | 786 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied- AQR substandard | 955 | 955 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,292 | 1,571 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 88 | 88 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 65 | 65 | — | |||||||||||||||||||||||||||||||||
Subtotal | $8,565 | $8,989 | $— | |||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | $186 | $186 | $11 | |||||||||||||||||||||||||||||||||
Subtotal | $186 | $186 | $11 | |||||||||||||||||||||||||||||||||
Commercial - AQR pass | $181 | $181 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 314 | 314 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 343 | 488 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 353 | 353 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 1,686 | 1,686 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR special mention | 834 | 834 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR pass | 512 | 512 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR special mention | 484 | 484 | — | |||||||||||||||||||||||||||||||||
Real estate term owner-occupied - AQR substandard | 672 | 672 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 786 | 786 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 955 | 955 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 1,292 | 1,571 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 88 | 88 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR substandard | 186 | 186 | 11 | |||||||||||||||||||||||||||||||||
Consumer other - AQR substandard | 65 | 65 | — | |||||||||||||||||||||||||||||||||
Total | $8,751 | $9,175 | $11 | |||||||||||||||||||||||||||||||||
(In Thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | |||||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR pass | $53 | $53 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 332 | 332 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 981 | 1,064 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 470 | 470 | — | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,748 | 2,748 | ||||||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1,083 | 1,083 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 555 | 555 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 1,705 | 1,705 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | 126 | 205 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 3,379 | 3,659 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 93 | 93 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR doubtful | 158 | 240 | — | |||||||||||||||||||||||||||||||||
Subtotal | $11,683 | $12,207 | $— | |||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||
Commercial - AQR substandard | $427 | $427 | $284 | |||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 189 | 189 | 160 | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | 794 | 794 | 215 | |||||||||||||||||||||||||||||||||
Subtotal | $1,410 | $1,410 | $659 | |||||||||||||||||||||||||||||||||
Commercial - AQR pass | $53 | $53 | $— | |||||||||||||||||||||||||||||||||
Commercial - AQR special mention | 332 | 332 | — | |||||||||||||||||||||||||||||||||
Commercial - AQR substandard | 1,408 | 1,491 | 284 | |||||||||||||||||||||||||||||||||
Commercial - AQR doubtful | 189 | 189 | 160 | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 470 | 470 | — | |||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR doubtful | 794 | 794 | 215 | |||||||||||||||||||||||||||||||||
Real estate construction other - AQR pass | 2,748 | 2,748 | — | |||||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1,083 | 1,083 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR special mention | 555 | 555 | — | |||||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | 1,705 | 1,705 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR special mention | 126 | 205 | — | |||||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | 3,379 | 3,659 | — | |||||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | 93 | 93 | — | |||||||||||||||||||||||||||||||||
Consumer other - AQR doubtful | 158 | 240 | — | |||||||||||||||||||||||||||||||||
Total | $13,093 | $13,617 | $659 | |||||||||||||||||||||||||||||||||
Newly Restructured Loans | ' | |||||||||||||||||||||||||||||||||||
The following table presents December 31, 2013 balances of loans that were restructured during 2013: | ||||||||||||||||||||||||||||||||||||
Accrual Status | Nonaccrual Status | Total Modifications | ||||||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
New Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | $353 | $— | $353 | |||||||||||||||||||||||||||||||||
Real estate owner occupied - AQR special mention | 282 | — | 282 | |||||||||||||||||||||||||||||||||
Subtotal | $635 | $— | $635 | |||||||||||||||||||||||||||||||||
Existing Troubled Debt Restructurings | 6,000 | 1,277 | 7,277 | |||||||||||||||||||||||||||||||||
Total | $6,635 | $1,277 | $7,912 | |||||||||||||||||||||||||||||||||
Newly Restructured Loans By Concession | ' | |||||||||||||||||||||||||||||||||||
The following table presents December 31, 2013 balances of loans that were restructured during 2013 by concession (terms modified): | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Number of Contracts | Rate Modification | Term Modification | Payment Modification | Combination Modification | Total Modifications | ||||||||||||||||||||||||||||||
Pre-Modification Outstanding Recorded Investment: | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 1 | $— | $— | $353 | $— | $353 | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1 | — | 283 | — | — | 283 | ||||||||||||||||||||||||||||||
Total | 2 | $— | $283 | $353 | $— | $636 | ||||||||||||||||||||||||||||||
Post-Modification Outstanding Recorded Investment: | ||||||||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR special mention | 1 | $— | $— | $353 | $— | $353 | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | 1 | — | 282 | — | — | 282 | ||||||||||||||||||||||||||||||
Total | 2 | $— | $282 | $353 | $— | $635 | ||||||||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted | ' | |||||||||||||||||||||||||||||||||||
The following table presents loans that were restructured during 2013, 2012, and 2011, respectively, that also defaulted subsequent to restructuring in those same periods: | ||||||||||||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings that Subsequently Defaulted: | ||||||||||||||||||||||||||||||||||||
Commercial - AQR special mention | — | $— | — | $— | $— | $— | ||||||||||||||||||||||||||||||
Commercial - AQR substandard | — | — | 2 | 300 | — | — | ||||||||||||||||||||||||||||||
Real estate construction one-to-four family - AQR substandard | — | — | 1 | 794 | — | — | ||||||||||||||||||||||||||||||
Real estate term owner occupied - AQR special mention | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Real estate term non-owner occupied - AQR substandard | — | — | 1 | 846 | — | — | ||||||||||||||||||||||||||||||
Real estate term other - AQR substandard | — | — | 1 | 1,044 | — | — | ||||||||||||||||||||||||||||||
Consumer secured by 1st deeds of trust - AQR pass | — | — | 1 | 93 | — | — | ||||||||||||||||||||||||||||||
Total | — | $— | 6 | $3,077 | $— | $— | ||||||||||||||||||||||||||||||
Analysis Of Loan Transactions | ' | |||||||||||||||||||||||||||||||||||
Certain directors, and companies of which directors are principal owners, have loans and other transactions such as architectural fees with the Company. Such transactions are made on substantially the same terms, including interest rates and collateral required, as those prevailing for similar transactions of unrelated parties. An analysis of the loan transactions follows: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Balance, beginning of the year | $373 | $402 | ||||||||||||||||||||||||||||||||||
Loans made | 2,439 | 210 | ||||||||||||||||||||||||||||||||||
Repayments | 476 | 239 | ||||||||||||||||||||||||||||||||||
Balance, end of year | $2,336 | $373 | ||||||||||||||||||||||||||||||||||
Allowance_For_Loan_Losses_Tabl
Allowance For Loan Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Allowance [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Allowance For Loan Losses | ' | |||||||||||||||||||||||||||||||||||
The following tables detail activity in the Allowance for the periods indicated: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deed of trust | Consumer other | Unallocated | Total | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | ||||||||||||||||||||||||||
Charge-Offs | (1,018 | ) | — | — | — | — | — | (14 | ) | (164 | ) | — | (1,196 | ) | ||||||||||||||||||||||
Recoveries | 1,049 | 77 | 79 | — | 488 | — | — | 12 | — | 1,705 | ||||||||||||||||||||||||||
Provision (benefit) | (560 | ) | (549 | ) | 134 | 142 | (256 | ) | (2 | ) | (8 | ) | 154 | 310 | (635 | ) | ||||||||||||||||||||
Balance, end of period | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $322 | $390 | $2,278 | $16,282 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $— | $— | $— | $— | $— | $— | $11 | $— | $— | $11 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $311 | $390 | $2,278 | $16,271 | ||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $6,783 | $468 | $1,169 | $1,272 | $2,975 | $788 | $374 | $418 | $2,256 | $16,503 | ||||||||||||||||||||||||||
Charge-Offs | (496 | ) | — | — | (274 | ) | — | (280 | ) | — | (122 | ) | — | (1,172 | ) | |||||||||||||||||||||
Recoveries | 2,518 | 48 | — | — | — | 50 | — | 20 | — | 2,636 | ||||||||||||||||||||||||||
Provision (benefit) | (2,497 | ) | 513 | (843 | ) | 443 | 1,090 | (19 | ) | (30 | ) | 72 | (288 | ) | (1,559 | ) | ||||||||||||||||||||
Balance, end of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $444 | $215 | $— | $— | $— | $— | $— | $— | $— | $659 | ||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $5,864 | $814 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $15,749 | ||||||||||||||||||||||||||
Recorded Investment Segregated By Amounts Individually Or Collectively In Allowance For Loan Losses | ' | |||||||||||||||||||||||||||||||||||
The following is a detail of the recorded investment in the loan portfolio, segregated by amounts evaluated individually or collectively in the Allowance at the periods indicated: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deed of trust | Consumer other | Total | |||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Balance, end of period | $300,338 | $30,161 | $32,599 | $91,098 | $255,324 | $29,976 | $16,483 | $18,058 | $774,037 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $838 | $353 | $2,520 | $1,668 | $1,741 | $1,292 | $274 | $65 | $8,751 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $299,500 | $29,808 | $30,079 | $89,430 | $253,583 | $28,684 | $16,209 | $17,993 | $765,286 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Balance, end of period | $273,432 | $32,573 | $21,061 | $78,107 | $234,643 | $31,809 | $17,714 | $18,305 | $707,644 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $2,452 | $794 | $2,748 | $1,083 | $2,260 | $3,505 | $93 | $158 | $13,093 | |||||||||||||||||||||||||||
Balance, end of period: | ||||||||||||||||||||||||||||||||||||
Collectively evaluated | ||||||||||||||||||||||||||||||||||||
for impairment | $270,980 | $31,779 | $18,313 | $77,024 | $232,383 | $28,304 | $17,621 | $18,147 | $694,551 | |||||||||||||||||||||||||||
Balance Of The Allowance Segregated By Segment And Class | ' | |||||||||||||||||||||||||||||||||||
The following represents the balance of the Allowance for the periods indicated segregated by segment and class: | ||||||||||||||||||||||||||||||||||||
(In Thousands) | Total | Commercial | Real estate construction 1-4 family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deeds of trust | Consumer other | Unallocated | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||
AQR Substandard | $11 | $— | $— | $— | $— | $— | $— | $11 | $— | $— | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Pass | 13,325 | 5,482 | 527 | 537 | 1,381 | 4,225 | 537 | 274 | 362 | — | ||||||||||||||||||||||||||
AQR Special Mention | 586 | 278 | 30 | 2 | 202 | 30 | — | 36 | 8 | — | ||||||||||||||||||||||||||
AQR Substandard | 82 | 19 | — | — | — | 42 | — | 1 | 20 | — | ||||||||||||||||||||||||||
Unallocated | 2,278 | — | — | — | — | — | — | — | — | 2,278 | ||||||||||||||||||||||||||
$16,282 | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $322 | $390 | $2,278 | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Substandard | $284 | $284 | $— | $— | $— | $— | $— | $— | $— | $— | ||||||||||||||||||||||||||
AQR Doubtful | 374 | 160 | 214 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | ||||||||||||||||||||||||||||||||||||
AQR Pass | 12,930 | 5,520 | 711 | 326 | 1,242 | 3,961 | 539 | 280 | 351 | — | ||||||||||||||||||||||||||
AQR Special Mention | 490 | 321 | 16 | — | 51 | 34 | — | 56 | 12 | — | ||||||||||||||||||||||||||
AQR Substandard | 362 | 23 | 88 | — | 148 | 70 | — | 8 | 25 | — | ||||||||||||||||||||||||||
Unallocated | 1,968 | — | — | — | — | — | — | — | — | 1,968 | ||||||||||||||||||||||||||
$16,408 | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | |||||||||||||||||||||||||||
Purchased_Receivables_Tables
Purchased Receivables (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ||||||||||||||||||||||||||||||
Summary Of Components Of Net Purchased Receivables | ' | ||||||||||||||||||||||||||||||
The following table summarizes the components of net purchased receivables at December 31, for the years indicated: | |||||||||||||||||||||||||||||||
(In Thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||
Purchased receivables | $16,298 | $19,345 | |||||||||||||||||||||||||||||
Reserve for purchased receivable losses | (273 | ) | (323 | ) | |||||||||||||||||||||||||||
Total | $16,025 | $19,022 | |||||||||||||||||||||||||||||
Allowance For Loan Losses Purchased Receivables | ' | ||||||||||||||||||||||||||||||
The following tables detail activity in the Allowance for the periods indicated: | |||||||||||||||||||||||||||||||
(In Thousands) | Commercial | Real estate construction one-to-four family | Real estate construction other | Real estate term owner occupied | Real estate term non-owner occupied | Real estate term other | Consumer secured by 1st deed of trust | Consumer other | Unallocated | Total | |||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||
Balance, beginning of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | |||||||||||||||||||||
Charge-Offs | (1,018 | ) | — | — | — | — | — | (14 | ) | (164 | ) | — | (1,196 | ) | |||||||||||||||||
Recoveries | 1,049 | 77 | 79 | — | 488 | — | — | 12 | — | 1,705 | |||||||||||||||||||||
Provision (benefit) | (560 | ) | (549 | ) | 134 | 142 | (256 | ) | (2 | ) | (8 | ) | 154 | 310 | (635 | ) | |||||||||||||||
Balance, end of period | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $322 | $390 | $2,278 | $16,282 | |||||||||||||||||||||
Balance, end of period: | |||||||||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||||||||
for impairment | $— | $— | $— | $— | $— | $— | $11 | $— | $— | $11 | |||||||||||||||||||||
Balance, end of period: | |||||||||||||||||||||||||||||||
Collectively evaluated | |||||||||||||||||||||||||||||||
for impairment | $5,779 | $557 | $539 | $1,583 | $4,297 | $537 | $311 | $390 | $2,278 | $16,271 | |||||||||||||||||||||
2012 | |||||||||||||||||||||||||||||||
Balance, beginning of period | $6,783 | $468 | $1,169 | $1,272 | $2,975 | $788 | $374 | $418 | $2,256 | $16,503 | |||||||||||||||||||||
Charge-Offs | (496 | ) | — | — | (274 | ) | — | (280 | ) | — | (122 | ) | — | (1,172 | ) | ||||||||||||||||
Recoveries | 2,518 | 48 | — | — | — | 50 | — | 20 | — | 2,636 | |||||||||||||||||||||
Provision (benefit) | (2,497 | ) | 513 | (843 | ) | 443 | 1,090 | (19 | ) | (30 | ) | 72 | (288 | ) | (1,559 | ) | |||||||||||||||
Balance, end of period | $6,308 | $1,029 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $16,408 | |||||||||||||||||||||
Balance, end of period: | |||||||||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||||||||
for impairment | $444 | $215 | $— | $— | $— | $— | $— | $— | $— | $659 | |||||||||||||||||||||
Balance, end of period: | |||||||||||||||||||||||||||||||
Collectively evaluated | |||||||||||||||||||||||||||||||
for impairment | $5,864 | $814 | $326 | $1,441 | $4,065 | $539 | $344 | $388 | $1,968 | $15,749 | |||||||||||||||||||||
Purchased Receivable | ' | ||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ||||||||||||||||||||||||||||||
Allowance For Loan Losses Purchased Receivables | ' | ||||||||||||||||||||||||||||||
The following table sets forth information regarding changes in the purchased receivable reserve for the periods indicated: | |||||||||||||||||||||||||||||||
(In Thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $323 | $— | |||||||||||||||||||||||||||||
Charge-offs | (150 | ) | (34 | ) | |||||||||||||||||||||||||||
Recoveries | — | — | |||||||||||||||||||||||||||||
Charge-offs net of recoveries | (150 | ) | (34 | ) | |||||||||||||||||||||||||||
Reserve of purchased receivables | 100 | 357 | |||||||||||||||||||||||||||||
Balance at end of period | $273 | $323 | |||||||||||||||||||||||||||||
Premises_And_Equipment_Tables
Premises And Equipment (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Premises And Equipment | ' | |||||||||
The following summarizes the components of premises and equipment at December 31 for the years indicated: | ||||||||||
(In Thousands) | Useful Life | 2013 | 2012 | |||||||
Land | $3,201 | $3,201 | ||||||||
Furniture and equipment | 3-7 years | 9,988 | 9,389 | |||||||
Tenant improvements | 2-15 years | 6,776 | 6,771 | |||||||
Buildings | 39 years | 27,090 | 25,661 | |||||||
Total Premises and Equipment | 47,055 | 45,022 | ||||||||
Accumulated depreciation and amortization | (18,731 | ) | (17,114 | ) | ||||||
Total Premises and Equipment, Net | $28,324 | $27,908 | ||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Real Estate [Abstract] | ' | |||||||||
Net Operating Expense Related To Other Real Estate Owned | ' | |||||||||
The following table details net operating expense related to OREO for the periods indicated: | ||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||
OREO (income) expense, net rental income and gains on sale: | ||||||||||
OREO operating expense | $142 | $701 | $335 | |||||||
Impairment on OREO | 112 | 469 | 92 | |||||||
Rental income on OREO | (26 | ) | (35 | ) | (248 | ) | ||||
Gains on sale of OREO | (288 | ) | (46 | ) | (889 | ) | ||||
Total | ($60 | ) | $1,089 | ($710 | ) | |||||
Goodwill_Intangible_And_Other_1
Goodwill, Intangible And Other Assets (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||
Intangible Assets And Other Assets | ' | |||||||||||
A summary of intangible assets and other assets is as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | ||||||||||
Intangible assets: | ||||||||||||
Goodwill | $7,525 | $7,525 | ||||||||||
Core deposit intangible | 214 | 328 | ||||||||||
NBG customer relationships | 203 | 317 | ||||||||||
Total | $7,942 | $8,170 | ||||||||||
Other assets: | ||||||||||||
Investment in Low Income Housing Partnerships | $15,681 | $5,974 | ||||||||||
Deferred taxes, net | 8,776 | 9,991 | ||||||||||
Investment in RML Holding Company | 5,953 | 6,153 | ||||||||||
Bank owned life insurance | 2,678 | 2,726 | ||||||||||
Taxes receivable | 1,526 | 1,432 | ||||||||||
Investment in PWA | 1,484 | 1,575 | ||||||||||
Prepaid expenses | 1,393 | 4,388 | ||||||||||
Note receivable from ECCM | 339 | 339 | ||||||||||
Investment in ECCM | 74 | 36 | ||||||||||
Investment in ECIA | 61 | 56 | ||||||||||
Other assets | 2,701 | 2,219 | ||||||||||
Total | $40,666 | $34,889 | ||||||||||
Future Amortization Expense | ' | |||||||||||
The future amortization expense required on these assets is as follows: | ||||||||||||
(In Thousands) | ||||||||||||
2014 | $204 | |||||||||||
2015 | 153 | |||||||||||
2016 | 42 | |||||||||||
2017 | 18 | |||||||||||
2018 | — | |||||||||||
Thereafter | — | |||||||||||
Total | $417 | |||||||||||
Summary Balance Sheet And Income Statement Information For Affiliate | ' | |||||||||||
Below is summary balance sheet and income statement information for RML. | ||||||||||||
(In Thousands, Unaudited) | 2013 | 2012 | ||||||||||
Assets | ||||||||||||
Cash | $11,852 | $13,547 | ||||||||||
Loans held for sale | 24,807 | 59,840 | ||||||||||
Other assets | 14,084 | 15,777 | ||||||||||
Total Assets | $50,743 | $89,164 | ||||||||||
Liabilities | ||||||||||||
Lines of credit | $21,949 | $56,932 | ||||||||||
Other liabilities | 5,652 | 7,481 | ||||||||||
Total Liabilities | 27,601 | 64,413 | ||||||||||
Shareholders' Equity | 23,142 | 24,751 | ||||||||||
Total Liabilities and Shareholders' Equity | $50,743 | $89,164 | ||||||||||
Income/expense | ||||||||||||
Gross income | $22,224 | $31,113 | ||||||||||
Total expense | 18,313 | 20,033 | ||||||||||
Joint venture allocations | 555 | 84 | ||||||||||
Net Income | $4,466 | $11,164 | ||||||||||
Summary of Commitment to Invest in Low Income Housing Partnerships | ' | |||||||||||
The table below shows the Company's commitments to invest in various low income housing tax credit partnerships. The Company earns a return on its investments in the form of tax credits and deductions that flow through to it as a limited partner in these partnerships. The Company recognized amortization expense of $969,000, $921,000, and $902,000 in 2013, 2012, and 2011, respectively. The Company expects to fund its remaining $11.0 million in commitments on these investments through 2029. | ||||||||||||
(In Thousands) | Date of original commitment | Years over which tax credits are earned | Original commitment amount | Less: life to date contributions | Remaining commitment amount | |||||||
R4 | Mar-13 | 17 | $10,675 | ($909 | ) | $9,766 | ||||||
WNC | Dec-12 | 16 | 2,500 | (1,219 | ) | 1,281 | ||||||
USA 57 | Dec-06 | 15 | 3,000 | (3,000 | ) | — | ||||||
Centerline XXXIII | Sep-06 | 18 | 3,000 | (3,000 | ) | — | ||||||
Centerline XXII | Jan-03 | 18 | 3,000 | (3,000 | ) | — | ||||||
Total | $22,175 | ($11,128 | ) | $11,047 | ||||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Debt Disclosure [Abstract] | ' | |||
Future Principal Payments Required On The Company's Borrowings | ' | |||
The future principal payments that are required on the Company’s borrowings as of December 31, 2013, are as follows: | ||||
(In Thousands) | ||||
2014 | $4,364 | |||
2015 | 45 | |||
2016 | 46 | |||
2017 | 48 | |||
2018 | 50 | |||
Thereafter | 1,974 | |||
Total | $6,527 | |||
Commitments_And_Contingent_Lia1
Commitments And Contingent Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule Of Future Minimum Rental Payments For Operating Leases | ' | |||||||
Required minimum rentals on non-cancelable leases as of December 31, 2013, are as follows: | ||||||||
(In Thousands) | ||||||||
2014 | $635 | |||||||
2015 | 594 | |||||||
2016 | 474 | |||||||
2017 | 388 | |||||||
2018 | 347 | |||||||
Thereafter | 6,332 | |||||||
Total | $8,770 | |||||||
Standby Letters Of Credit And Other Letters Of Credit | ' | |||||||
The Company applies the same credit standards to these contracts as it uses in its lending process. | ||||||||
(In Thousands) | 2013 | 2012 | ||||||
Off-balance sheet commitments: | ||||||||
Commitments to extend credit | $187,931 | $208,328 | ||||||
Standby letters of credit | $6,463 | $22,132 | ||||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||
Schedule of Derivative Instruments | ' | ||||||||||
The following table presents the fair value of derivatives not designated as hedging instruments at December 31, 2013 and December 31, 2012: | |||||||||||
(In thousands) | Asset Derivatives | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet Location | Fair Value | Fair Value | |||||||||
Interest rate contracts | Other assets | $186 | $— | ||||||||
(In thousands) | Liability Derivatives | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet Location | Fair Value | Fair Value | |||||||||
Interest rate contracts | Other Liabilities | $186 | $— | ||||||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||
Assumptions Used To Determine Fair Value of Stock Options | ' | |||||||||||
The following assumptions were used to determine the fair value of stock options as of the grant date to determine compensation expense for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
Stock Options: | 2013 | 2012 | 2011 | |||||||||
Grant date fair value | $5.59 | $4.42 | $4.01 | |||||||||
Expected life of options | 8 years | 8 years | 8 years | |||||||||
Risk-free interest rate | 2.3 | % | 1.3 | % | 1.4 | % | ||||||
Dividend yield rate | 2.9 | % | 2.8 | % | 2.83 | % | ||||||
Price volatility | 28.89 | % | 28.51 | % | 28.56 | % | ||||||
Stock Options Activity | ' | |||||||||||
The following table summarizes stock options activity during 2013: | ||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life, in Years | ||||||||||
Outstanding at January 1, 2013 | 203,125 | $20.76 | ||||||||||
Granted | 13,843 | 23.74 | ||||||||||
Forfeited | — | — | ||||||||||
Exercised | (11,482 | ) | 14.38 | |||||||||
Outstanding at December 31, 2013 | 205,486 | $21.32 | 4.63 | |||||||||
Restricted Stock Unit Activity | ' | |||||||||||
The following table summarizes restricted stock unit activity during 2013: | ||||||||||||
Number of Shares | Weighted Average Grant Date Fair Value | Weighted Average Remaining Contractual Life, in Years | ||||||||||
Outstanding at January 1, 2013 | 64,177 | $18.96 | ||||||||||
Granted | 21,712 | 23.74 | ||||||||||
Vested | (26,771 | ) | 18.26 | |||||||||
Forfeited | — | — | ||||||||||
Outstanding at December 31, 2013 | 59,118 | $21.03 | 1.93 | |||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||
Capital Requirements And Actual Capital Ratios | ' | ||||||||||||||||||||
The tables below illustrate the capital requirements for the Company and the Bank and the actual capital ratios for each entity that exceed these requirements. Management intends to maintain a Tier 1 risk-based capital ratio for the Bank in excess of 10% in 2014, exceeding the FDIC’s “well-capitalized” capital requirement classification. The dividends that the Bank pays to the Company are limited to the extent necessary for the Bank to meet the regulatory requirements of a “well-capitalized” bank. The capital ratios for the Company exceed those for the Bank primarily because the $18 million trust preferred securities offerings that the Company completed in the second quarter of 2003 and in the fourth quarter of 2005 are included in the Company’s capital for regulatory purposes although they are accounted for as a liability in its financial statements. The trust preferred securities are not accounted for on the Bank’s financial statements nor are they included in its capital. As a result, the Company has $18 million more in regulatory capital than the Bank at December 31, 2013 and 2012, which explains most of the difference in the capital ratios for the two entities. | |||||||||||||||||||||
Northrim BanCorp, Inc. | Actual | Adequately-Capitalized | Well-Capitalized | ||||||||||||||||||
(In Thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $168,587 | 16.61 | % | $81,198 | ≥ 8 | % | $101,497 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $155,851 | 15.35 | % | $40,613 | ≥ 4 | % | $60,919 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $155,851 | 13.06 | % | $47,734 | ≥ 4 | % | $59,667 | ≥ 5 | % | ||||||||||||
As of December 31, 2012: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $158,820 | 16.6 | % | $76,540 | ≥ 8 | % | $95,675 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $146,802 | 15.34 | % | $38,280 | ≥ 4 | % | $57,419 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $146,802 | 12.99 | % | $45,205 | ≥ 4 | % | $56,506 | ≥ 5 | % | ||||||||||||
Northrim Bank | Actual | Adequately-Capitalized | Well-Capitalized | ||||||||||||||||||
(In Thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $151,308 | 15 | % | $80,698 | ≥ 8 | % | $100,872 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $138,650 | 13.75 | % | $40,335 | ≥ 4 | % | $60,502 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $138,650 | 11.68 | % | $47,483 | ≥ 4 | % | $59,354 | ≥ 5 | % | ||||||||||||
As of December 31, 2012: | |||||||||||||||||||||
Total Capital (to risk-weighted assets) | $143,684 | 15.12 | % | $76,023 | ≥ 8 | % | $95,029 | ≥ 10 | % | ||||||||||||
Tier I Capital (to risk-weighted assets) | $131,748 | 13.87 | % | $37,995 | ≥ 4 | % | $56,993 | ≥ 6 | % | ||||||||||||
Tier I Capital (to average assets) | $131,748 | 11.74 | % | $44,889 | ≥ 4 | % | $56,111 | ≥ 5 | % | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components Of The Provision For Income Taxes | ' | |||||||||||
Components of the provision for income taxes are as follows: | ||||||||||||
(In Thousands) | Current Tax Expense (Benefit) | Deferred (Benefit) | Total Expense | |||||||||
2013:00:00 | ||||||||||||
Federal | $3,227 | $1,034 | $4,261 | |||||||||
State | 835 | 181 | 1,016 | |||||||||
Total | $4,062 | $1,215 | $5,277 | |||||||||
2012:00:00 | ||||||||||||
Federal | $4,169 | $750 | $4,919 | |||||||||
State | 1,106 | 131 | 1,237 | |||||||||
Total | $5,275 | $881 | $6,156 | |||||||||
2011:00:00 | ||||||||||||
Federal | $4,941 | ($816 | ) | $4,125 | ||||||||
State | 891 | (143 | ) | 748 | ||||||||
Total | $5,832 | ($959 | ) | $4,873 | ||||||||
Reconciliation Of Actual To Expected Tax Expense | ' | |||||||||||
The actual expense for 2013, 2012, and 2011, differs from the “expected” tax expense (computed by applying the U.S. Federal Statutory Tax Rate of 35% for the year ended December 31, 2013, 2012, and 2011) as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||||
Computed “expected” income tax expense | $6,192 | $6,864 | $5,695 | |||||||||
State income taxes, net | 660 | 803 | 486 | |||||||||
Low income housing credits | (955 | ) | (896 | ) | (879 | ) | ||||||
Other | (620 | ) | (615 | ) | (429 | ) | ||||||
Total | $5,277 | $6,156 | $4,873 | |||||||||
Components Of Net Deferred Tax Asset | ' | |||||||||||
The components of the net deferred tax asset are as follows: | ||||||||||||
(In Thousands) | 2013 | 2012 | 2011 | |||||||||
Deferred Tax Asset: | ||||||||||||
Allowance for loan losses | $6,543 | $6,650 | $6,750 | |||||||||
Loan fees, net of costs | 1,653 | 1,411 | 1,247 | |||||||||
Depreciation and amortization | 446 | 537 | 636 | |||||||||
Other real estate owned | 174 | 1,381 | 1,159 | |||||||||
Deferred Compensation | 1,665 | 1,973 | 2,059 | |||||||||
Other | 1,629 | 1,531 | 1,597 | |||||||||
Total Deferred Tax Asset | $12,110 | $13,483 | $13,448 | |||||||||
Deferred Tax Liability: | ||||||||||||
Unrealized gain on available-for-sale investment securities | ($451 | ) | ($955 | ) | ($197 | ) | ||||||
Intangible amortization | (1,949 | ) | (1,807 | ) | (1,675 | ) | ||||||
Other | (934 | ) | (730 | ) | (704 | ) | ||||||
Total Deferred Tax Liability | ($3,334 | ) | ($3,492 | ) | ($2,576 | ) | ||||||
Net Deferred Tax Asset | $8,776 | $9,991 | $10,872 | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Schedule Of Estimated Fair Values | ' | |||||||||||||||||||
Estimated fair values as of the periods indicated are as follows: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
(In Thousands) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||
Financial assets: | ||||||||||||||||||||
Level 1 inputs: | ||||||||||||||||||||
Cash, due from banks and deposits in other banks | $99,091 | $99,091 | $154,813 | $154,813 | ||||||||||||||||
Investment securities | 20,487 | 20,487 | — | — | ||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Investment securities | 232,305 | 232,458 | 208,634 | 208,863 | ||||||||||||||||
Accrued interest receivable | 2,729 | 2,729 | 2,618 | 2,618 | ||||||||||||||||
Interest rate contracts | 186 | 186 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Loans and loans held for sale, net | 765,035 | 769,570 | 699,510 | 696,951 | ||||||||||||||||
Purchased receivables, net | 16,025 | 16,025 | 19,022 | 19,022 | ||||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Deposits | $1,003,723 | $1,003,816 | $970,129 | $969,958 | ||||||||||||||||
Securities sold under repurchase agreements | 21,143 | 21,143 | 19,038 | 19,038 | ||||||||||||||||
Borrowings | 6,527 | 6,448 | 4,479 | 4,193 | ||||||||||||||||
Accrued interest payable | 52 | 52 | 47 | 47 | ||||||||||||||||
Interest rate contracts | 186 | 186 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Junior subordinated debentures | 18,558 | 15,456 | 18,558 | 18,590 | ||||||||||||||||
Unrecognized financial instruments: | ||||||||||||||||||||
Commitments to extend credit(1) | $187,931 | $1,879 | $208,328 | $2,083 | ||||||||||||||||
Standby letters of credit(1) | 6,463 | 65 | 22,132 | 221 | ||||||||||||||||
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||||||
The following table sets forth the balances as of the periods indicated of assets measured at fair value on a recurring basis: | ||||||||||||||||||||
(In Thousands) | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Available for sale securities | ||||||||||||||||||||
U.S. Treasury and government sponsored entities | $168,702 | $5,538 | $163,164 | $— | ||||||||||||||||
Municipal securities | 20,149 | 419 | 19,730 | — | ||||||||||||||||
U.S. Agency mortgage-backed securities | 25 | — | 25 | — | ||||||||||||||||
Corporate bonds | 56,778 | 11,496 | 45,282 | — | ||||||||||||||||
Preferred stock | 3,034 | 3,034 | — | — | ||||||||||||||||
Total available for sale securities | $248,688 | $20,487 | $228,201 | $— | ||||||||||||||||
Other assets (interest rate contracts) | $186 | $— | $186 | $— | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Other liabilities (interest rate contracts) | $186 | $— | $186 | $— | ||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Available for sale securities | ||||||||||||||||||||
U.S. Treasury and government sponsored entities | $124,414 | $— | $124,414 | $— | ||||||||||||||||
Municipal securities | 21,728 | — | 21,728 | — | ||||||||||||||||
U.S. Agency mortgage-backed securities | 36 | — | 36 | — | ||||||||||||||||
Corporate bonds | 53,982 | — | 53,982 | — | ||||||||||||||||
Preferred stock | 3,758 | — | 3,758 | — | ||||||||||||||||
Total | $203,918 | $— | $203,918 | $— | ||||||||||||||||
Schedule Of Asset Impairment Or Valuation Adjustment Recognized At Fair Value On A Nonrecurring Basis | ' | |||||||||||||||||||
2013 and 2012, no impairment or valuation adjustment was recognized for assets recognized at fair value on a nonrecurring basis, except for certain assets as shown in the following table. For loans measured for impairment, the Company classifies fair value measurements using observable inputs, such as external appraisals, as Level 2 valuations in the fair value hierarchy, and unobservable inputs, such as in-house evaluations, as Level 3 valuations in the fair value hierarchy. | ||||||||||||||||||||
(In Thousands) | Total | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total (gains) losses | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Loans measured for impairment | $187 | $— | $— | $187 | $11 | |||||||||||||||
Other real estate owned | 736 | — | — | 736 | 112 | |||||||||||||||
Total | $923 | $— | $— | $923 | $123 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Loans measured for impairment | $105 | $— | $— | $105 | $39 | |||||||||||||||
Other real estate owned | 1,536 | — | — | 1,536 | 469 | |||||||||||||||
Total | $1,641 | $— | $— | $1,641 | $508 | |||||||||||||||
Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) | ||||||||||||||||||||
The following table provides a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at December 31, 2013: | ||||||||||||||||||||
Financial Instrument | Valuation Technique | Unobservable Input | Weighted Average Rate Range | |||||||||||||||||
Loans measured for impairment | In-house valuation of real estate; discounted cash flow | Discount rate | 25 | % | ||||||||||||||||
Cash flows | NA(1) | |||||||||||||||||||
Other real estate owned | Fair value of collateral | Estimated capital costs to complete improvements | 10% - 25% | |||||||||||||||||
(1) Fair value of impaired collateral dependent loans was calculated using contractual cash flows for specific impaired loan. |
Quarterly_Results_Of_Operation1
Quarterly Results Of Operations (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Quarterly Results Of Operations | ' | |||||||||||||||
2013 Quarter Ended | Dec. 31 | Sept. 30 | 30-Jun | 31-Mar | ||||||||||||
(In Thousands Except Per Share Amounts) | ||||||||||||||||
Total interest income | $12,018 | $11,524 | $11,440 | $11,092 | ||||||||||||
Total interest expense | 497 | 502 | 511 | 530 | ||||||||||||
Net interest income | 11,521 | 11,022 | 10,929 | 10,562 | ||||||||||||
Provision (benefit) for loan losses | — | (785 | ) | — | 150 | |||||||||||
Other operating income | 2,802 | 3,243 | 3,702 | 3,139 | ||||||||||||
Other operating expense | 10,702 | 10,076 | 9,391 | 9,697 | ||||||||||||
Income before provision for income taxes | 3,621 | 4,974 | 5,240 | 3,854 | ||||||||||||
Provision for income taxes | 1,042 | 1,510 | 1,635 | 1,090 | ||||||||||||
Net Income | 2,579 | 3,464 | 3,605 | 2,764 | ||||||||||||
Less: Net income attributable to the noncontrolling interest | (102 | ) | (10 | ) | 109 | 90 | ||||||||||
Net income attributable to Northrim Bancorp | $2,681 | $3,474 | $3,496 | $2,674 | ||||||||||||
Earnings per share, basic | $0.41 | $0.53 | $0.54 | $0.41 | ||||||||||||
Earnings per share, diluted | $0.40 | $0.53 | $0.53 | $0.41 | ||||||||||||
2012 Quarter Ended | Dec. 31 | Sept. 30 | 30-Jun | 31-Mar | ||||||||||||
(In Thousands Except Per Share Amounts) | ||||||||||||||||
Total interest income | $11,349 | $11,204 | $11,123 | $11,052 | ||||||||||||
Total interest expense | 569 | 611 | 627 | 698 | ||||||||||||
Net interest income | 10,780 | 10,593 | 10,496 | 10,354 | ||||||||||||
Provision for loan losses | (300 | ) | (1,437 | ) | 89 | 89 | ||||||||||
Other operating income | 4,343 | 4,157 | 3,725 | 3,207 | ||||||||||||
Other operating expense | 10,555 | 9,992 | 9,295 | 9,758 | ||||||||||||
Income before provision for income taxes | 4,868 | 6,195 | 4,837 | 3,714 | ||||||||||||
Provision for income taxes | 1,588 | 1,991 | 1,551 | 1,026 | ||||||||||||
Net Income | 3,280 | 4,204 | 3,286 | 2,688 | ||||||||||||
Less: Net income attributable to the noncontrolling interest | 118 | 138 | 144 | 112 | ||||||||||||
Net income attributable to Northrim Bancorp | $3,162 | $4,066 | $3,142 | $2,576 | ||||||||||||
Earnings per share, basic | $0.49 | $0.63 | $0.49 | $0.40 | ||||||||||||
Earnings per share, diluted | $0.48 | $0.62 | $0.48 | $0.39 | ||||||||||||
Parent_Company_Information_Tab
Parent Company Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Balance Sheets | ' | |||||||||||
Balance Sheets at December 31, | 2013 | 2012 | ||||||||||
(In Thousands) | ||||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $10,121 | $8,749 | ||||||||||
Investment securities available for sale | 3,034 | 3,757 | ||||||||||
Investment in Northrim Bank | 144,799 | 138,936 | ||||||||||
Investment in NISC | 1,502 | 1,491 | ||||||||||
Investment in NCT1 | 248 | 248 | ||||||||||
Investment in NST2 | 310 | 310 | ||||||||||
Due from NISC | 341 | 414 | ||||||||||
Other assets | 2,354 | 913 | ||||||||||
Total Assets | $162,709 | $154,818 | ||||||||||
Liabilities | ||||||||||||
Junior subordinated debentures | $18,558 | $18,558 | ||||||||||
Other liabilities | — | — | ||||||||||
Total Liabilities | 18,558 | 18,558 | ||||||||||
Shareholders' Equity | ||||||||||||
Common stock | 6,538 | 6,512 | ||||||||||
Additional paid-in capital | 54,089 | 53,638 | ||||||||||
Retained earnings | 82,855 | 74,742 | ||||||||||
Accumulated other comprehensive income | 669 | 1,368 | ||||||||||
Total Shareholders' Equity | 144,151 | 136,260 | ||||||||||
Total Liabilities and Shareholders' Equity | $162,709 | $154,818 | ||||||||||
Statements Of Income | ' | |||||||||||
Statements of Income for Years Ended: | 2013 | 2012 | 2011 | |||||||||
(In Thousands) | ||||||||||||
Income | ||||||||||||
Interest income | $208 | $198 | $51 | |||||||||
Net income from Northrim Bank | 13,645 | 13,950 | 12,442 | |||||||||
Net income from NISC | 37 | 35 | 17 | |||||||||
Other income | 170 | 209 | 92 | |||||||||
Total Income | $14,060 | $14,392 | $12,602 | |||||||||
Expense | ||||||||||||
Interest expense | 459 | 493 | 466 | |||||||||
Administrative and other expenses | 2,387 | 1,646 | 1,737 | |||||||||
Total Expense | 2,846 | 2,139 | 2,203 | |||||||||
Income Before Benefit from Income Taxes | 11,214 | 12,253 | 10,399 | |||||||||
Benefit from income taxes | (1,111 | ) | (693 | ) | (999 | ) | ||||||
Net Income | $12,325 | $12,946 | $11,398 | |||||||||
Statements Of Cash Flows | ' | |||||||||||
Statements of Cash Flows for Years Ended: | 2013 | 2012 | 2011 | |||||||||
(In Thousands) | ||||||||||||
Operating Activities: | ||||||||||||
Net income | $12,325 | $12,946 | $11,398 | |||||||||
Adjustments to Reconcile Net Income to Net Cash: | ||||||||||||
Equity in undistributed earnings from subsidiaries | (13,683 | ) | (13,985 | ) | (12,461 | ) | ||||||
Stock-based compensation | 506 | 454 | 519 | |||||||||
Changes in other assets and liabilities | (60 | ) | 79 | (852 | ) | |||||||
Net Cash Used from Operating Activities | (912 | ) | (506 | ) | (1,396 | ) | ||||||
Investing Activities: | ||||||||||||
Investment in securities available for sale | 525 | (2,527 | ) | (999 | ) | |||||||
Investment in Northrim Bank, NISC, NCT1 & NST2 | 5,874 | 7,921 | 7,040 | |||||||||
Net Cash Used from Investing Activities | 6,399 | 5,394 | 6,041 | |||||||||
Financing Activities: | ||||||||||||
Dividends paid to shareholders | (4,215 | ) | (3,676 | ) | (3,264 | ) | ||||||
Proceeds from issuance of common stock and excess tax benefits | 100 | 233 | 171 | |||||||||
Net Cash Provided by Financing Activities | (4,115 | ) | (3,443 | ) | (3,093 | ) | ||||||
Net Increase by Cash and Cash Equivalents | 1,372 | 1,445 | 1,552 | |||||||||
Cash and Cash Equivalents at beginning of year | 8,749 | 7,304 | 5,752 | |||||||||
Cash and Cash Equivalents at end of year | $10,121 | $8,749 | $7,304 | |||||||||
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies - Narrative (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
borrower | USA 57 | Centerline XXXIII | Alaska First | Alaska First | Northrim Benefits Group | Centerline XXII | WNC | Buildings | Buildings | Maximum | Maximum | Maximum | Maximum | Minimum | Minimum | Minimum | Minimum | Core Deposits | Core Deposits | Core Deposits | Customer Relationships | Customer Relationships | Customer Relationships | |||
Tenant Improvements | Tenant Improvements | Furniture And Equipment | Furniture And Equipment | Tenant Improvements | Tenant Improvements | Furniture And Equipment | Furniture And Equipment | Alaska First | Alaska First | Alaska First | Northrim Benefits Group | Northrim Benefits Group | Northrim Benefits Group | |||||||||||||
Ownership Percentage in VIE | ' | ' | ' | ' | ' | ' | ' | 50.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Marketing expense | $1,853,000 | $1,975,000 | $1,771,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Activities percentage of total revenue and total assets | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of securities at acquisition | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold for nonperformation loans individually evaluated for impairment | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premises and equipment, useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '39 years | '39 years | '15 years | '15 years | '7 years | '7 years | '2 years | '2 years | '3 years | '3 years | ' | ' | ' | ' | ' | ' |
Goodwill | 7,525,000 | 7,525,000 | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CDI recorded | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life, years | ' | ' | ' | ' | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated amortization for intangible assets | 6,200,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 983,000 | 846,000 | 943,000 | 829,000 | 714,000 |
Intangible assets | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity interest percentage | ' | ' | ' | ' | ' | ' | ' | 40.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental share resulting from stock options | 91 | 98 | 116 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial and construction loans | 363,100,000 | 327,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of loan portfolio attributable to large borrowing relationships | 44.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Large borrowing relationships | 22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded commitments to large borrowers | 128,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization period of intangible assets | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior notice for redemption of FHLB Class B Stock | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments to invest | $22,175,000 | ' | ' | $3,000,000 | $3,000,000 | ' | ' | ' | $3,000,000 | $2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies - Calculation Of Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $2,681 | $3,474 | $3,496 | $2,674 | $3,162 | $4,066 | $3,142 | $2,576 | $12,325 | $12,946 | $11,398 |
Basic weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 6,519 | 6,477 | 6,439 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 91 | 98 | 116 |
Total | ' | ' | ' | ' | ' | ' | ' | ' | 6,610 | 6,575 | 6,555 |
Earnings per common share, Basic | $0.41 | $0.53 | $0.54 | $0.41 | $0.49 | $0.63 | $0.49 | $0.40 | $1.89 | $2 | $1.77 |
Earnings per common share, Dilutive | $0.40 | $0.53 | $0.53 | $0.41 | $0.48 | $0.62 | $0.48 | $0.39 | $1.87 | $1.97 | $1.74 |
Cash_And_Due_From_Banks_Detail
Cash And Due From Banks (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Cash and Due from Banks [Abstract] | ' | ' | ' |
Minimum average daily balance | $500,000 | ' | ' |
Value of certificates of deposits in another bank | 0 | ' | ' |
Maturity period of securities at acquisition | '90 days | ' | ' |
Domestic certificates of deposit | $13,500,000 | $13,500,000 | $12,000,000 |
Interest_Bearing_Deposits_In_O2
Interest Bearing Deposits In Other Banks (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Bearing Deposits In Other Banks [Abstract] | ' | ' |
Maximum maturity period | '1 year | ' |
Interest bearing deposits at Federal Reserve Bank (FRB) | $51,923 | $90,224 |
Interest bearing deposits at Federal Home Loan Bank (FHLB) | 329 | 144 |
Domestic certificates of deposit at other institutions | 13,500 | 13,500 |
Other interest bearing deposits at other institutions | 227 | 10,111 |
Total | $65,979 | $113,979 |
Investment_Securities_Narrativ
Investment Securities - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Marketable Securities [Abstract] | ' | ' |
Securities with unrealized losses | 26 | 6 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 0 | 0 |
Available-for-sale Securities Pledged as Collateral | $46.80 | $42.70 |
Investment_Securities_Summary_
Investment Securities - Summary Of Available-For-Sale Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $247,569 | $201,593 |
Gross Unrealized Gains | 1,516 | 2,384 |
Gross Unrealized Losses | 397 | 59 |
Fair Value | 248,688 | 203,918 |
U.S Treasury And Government Sponsored Entities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 168,922 | 123,959 |
Gross Unrealized Gains | 103 | 455 |
Gross Unrealized Losses | 323 | 0 |
Fair Value | 168,702 | 124,414 |
Municipal Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 19,825 | 21,124 |
Gross Unrealized Gains | 378 | 613 |
Gross Unrealized Losses | 54 | 9 |
Fair Value | 20,149 | 21,728 |
U.S Agency Mortgage-Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 25 | 35 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 25 | 36 |
Corporate Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 55,798 | 52,951 |
Gross Unrealized Gains | 1,000 | 1,081 |
Gross Unrealized Losses | 20 | 50 |
Fair Value | 56,778 | 53,982 |
Preferred Stock | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 2,999 | 3,524 |
Gross Unrealized Gains | 35 | 234 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $3,034 | $3,758 |
Investment_Securities_Summary_1
Investment Securities - Summary Of Held-To-Maturity Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | $2,208 | $2,749 |
Gross Unrealized Gains | 153 | 229 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 2,361 | 2,978 |
Municipal Bonds | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 2,208 | 2,749 |
Gross Unrealized Gains | 153 | 229 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $2,361 | $2,978 |
Investment_Securities_Schedule
Investment Securities - Schedule Of Gross Unrealized Losses On Investment Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | $134,224 | $10,806 |
More Than 12 Months, Fair Value | 0 | 0 |
Total, Fair Value | 134,224 | 10,806 |
Less Than 12 Months, Unrealized Losses | 397 | 59 |
More Than 12 Months, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | 397 | 59 |
U.S Treasury And Government Sponsored Entities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 122,560 | ' |
More Than 12 Months, Fair Value | 0 | ' |
Total, Fair Value | 122,560 | ' |
Less Than 12 Months, Unrealized Losses | 323 | ' |
More Than 12 Months, Unrealized Losses | 0 | ' |
Total, Unrealized Losses | 323 | ' |
Municipal Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 5,613 | 1,265 |
More Than 12 Months, Fair Value | 0 | 0 |
Total, Fair Value | 5,613 | 1,265 |
Less Than 12 Months, Unrealized Losses | 54 | 9 |
More Than 12 Months, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | 54 | 9 |
Corporate Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | 6,051 | 9,541 |
More Than 12 Months, Fair Value | 0 | 0 |
Total, Fair Value | 6,051 | 9,541 |
Less Than 12 Months, Unrealized Losses | 20 | 50 |
More Than 12 Months, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | $20 | $50 |
Investment_Securities_Schedule1
Investment Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity Of Available-For-Sale Securities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total securities available for sale, Amortized Cost | $247,569 | $201,593 |
U.S Treasury And Government Sponsored Entities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Within 1 year, Amortized Cost | 26,034 | ' |
1-5 years, Amortized Cost | 142,888 | ' |
Total securities available for sale, Amortized Cost | 168,922 | 123,959 |
Within 1 year, Fair Value | 26,071 | ' |
1-5 years, Fair Value | 142,631 | ' |
Within 1 year, Weighted Average Yield | 0.98% | ' |
1-5 years, Weighted Average Yield | 0.76% | ' |
Weighted Average Yield, Total | 0.79% | ' |
Total securities available for sale, Fair Value | 168,702 | ' |
U.S Agency Mortgage-Backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
5-10 years, Amortized Cost | 25 | ' |
Total securities available for sale, Amortized Cost | 25 | 35 |
5-10 years, Fair Value | 25 | ' |
5-10 years, Weighted Average Yield | 4.15% | ' |
Weighted Average Yield, Total | 4.15% | ' |
Total securities available for sale, Fair Value | 25 | ' |
Corporate Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Within 1 year, Amortized Cost | 5,198 | ' |
1-5 years, Amortized Cost | 48,600 | ' |
5-10 years, Amortized Cost | 2,000 | ' |
Total securities available for sale, Amortized Cost | 55,798 | 52,951 |
Within 1 year, Fair Value | 5,200 | ' |
1-5 years, Fair Value | 49,597 | ' |
5-10 years, Fair Value | 1,981 | ' |
Within 1 year, Weighted Average Yield | 1.08% | ' |
1-5 years, Weighted Average Yield | 1.68% | ' |
Available For Sale Securities After Six Through Ten Years Weighted Average Yield | 1.04% | ' |
Weighted Average Yield, Total | 1.60% | ' |
Total securities available for sale, Fair Value | 56,778 | ' |
Preferred Stock | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Over 10 years, Amortized Cost | 2,999 | ' |
Total securities available for sale, Amortized Cost | 2,999 | 3,524 |
Over 10 years, Fair Value | 3,034 | ' |
Over 10 years, Weighted Average Yield | 5.61% | ' |
Weighted Average Yield, Total | 5.61% | ' |
Total securities available for sale, Fair Value | $3,034 | ' |
Investment_Securities_Schedule2
Investment Securities - Schedule Of Amortized Cost And Fair Value By Contractual Maturity Of Debt Securities (Details) (Municipal Securities, USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Municipal Securities | ' |
Schedule Of Debt Securities [Line Items] | ' |
Within 1 year, Amortized Cost | $6,335 |
1-5 years, Amortized Cost | 10,296 |
5-10 years, Amortized Cost | 5,402 |
Total debt securities, Amortized Cost | 22,033 |
Within 1 year, Fair Value | 6,353 |
1-5 years, Fair Value | 10,420 |
5-10 years, Fair Value | 5,737 |
Total debt securities, Fair Value | $22,510 |
Within 1 year, Weighted Average Yield | 1.52% |
1-5 years, Weighted Average Yield | 2.84% |
5-10 years, Weighted Average Yield | 4.78% |
Weighted Average Yield, Total | 2.93% |
Investment_Securities_Schedule3
Investment Securities - Schedule Of Available-For-Sale Securities Proceeds, Gains, And Losses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Marketable Securities [Abstract] | ' | ' | ' |
Proceeds | $23,514 | $35,466 | $21,382 |
Gross Gains | 333 | 336 | 419 |
Gross Losses | $0 | $0 | $0 |
Investment_Securities_Summary_2
Investment Securities - Summary Of Interest Income On Available-For-Sale Investment Securities (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total taxable interest income | $2,035 | $2,223 | $2,591 |
Total tax-exempt interest income | 568 | 573 | 506 |
Total interest income | 2,603 | 2,796 | 3,097 |
U.S Treasury And Government Sponsored Entities | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total taxable interest income | 898 | 941 | 1,637 |
U.S. Agency Mortgage-backed Securities | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total taxable interest income | 1 | 2 | 3 |
Other | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total taxable interest income | 1,136 | 1,280 | 951 |
Municipal Bonds | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Total tax-exempt interest income | $568 | $573 | $506 |
Loans_Held_For_Sale_Details
Loans Held For Sale (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loans and Leases Receivable Disclosure [Abstract] | ' | ' | ' |
Payments to Purchase Loans Held-for-sale | $156,521 | $242,535 | $82,915 |
Proceeds from the sale of loans held for sale | $156,925 | $258,652 | $60,662 |
Loans_Narrative_Details
Loans - Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Contract | |||
Loans [Abstract] | ' | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $0 | $0 | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | 280,000 | 0 |
Troubled Debt Restructurings With Specific Impairment Total Recorded Investment | 0 | 1,400,000 | ' |
Financing Receivable, Modifications with Specific Allowance, Number of Contracts | ' | 5 | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 3,077,000 | 0 |
Loans secured by real estate | 71.00% | ' | ' |
Loans secured for general commercial uses | 29.00% | ' | ' |
Nonaccrual loans | 1,815,000 | 4,531,000 | ' |
Interest income earned on nonaccrual loans | 188,000 | 453,000 | 734,000 |
Interest Income Earned on Nonaccrual Loans With No Balance | 250,000 | 344,000 | 270,000 |
Nonperforming loans minimum threshold for individual impairment evaluation | 50,000 | ' | ' |
Recorded investment in loans considered to be impaired | 8,751,000 | 13,093,000 | ' |
Loans classified as troubled debt restructuring | 7,912,000 | 12,100,000 | ' |
Recorded investment classified as nonaccrual loans | ' | 2,200,000 | ' |
TDR's not included in nonaccrual | ' | 923,000 | ' |
Loans Pledged as Collateral | 0 | 0 | ' |
Serviced loans | 93,800,000 | 89,000,000 | ' |
Amounts held in escrow | 714,000 | 648,000 | ' |
Unfunded loan commitments | 0 | 136,000 | ' |
Troubled Debt Restructurings Total Recorded Investment Impairment Amount | ' | $659,000 | ' |
Loans_Composition_Of_Loan_Port
Loans - Composition Of Loan Portfolio (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | $774,037 | $707,644 |
Less: Unearned origination fee, net of origination costs | -4,021 | -3,431 |
Less: Unearned originiation fee, net of origination costs, Percent of Total | -0.50% | -0.50% |
Total loans | 770,016 | 704,213 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 300,338 | 273,432 |
Percent of Total | 39.00% | 38.80% |
Real Estate Construction One-To- Four Family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 30,161 | 32,573 |
Percent of Total | 3.90% | 4.60% |
Real Estate Construction Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 32,599 | 21,061 |
Percent of Total | 4.20% | 3.00% |
Real Estate Term Owner Occupied | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 91,098 | 78,107 |
Percent of Total | 11.80% | 11.10% |
Real Estate Term Non-Owner Occupied | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 255,324 | 234,643 |
Percent of Total | 33.20% | 33.30% |
Real Estate Term Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 29,976 | 31,809 |
Percent of Total | 3.90% | 4.50% |
Consumer Secured By 1st Deed Of Trust | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 16,483 | 17,714 |
Percent of Total | 2.10% | 2.50% |
Consumer Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | $18,058 | $18,305 |
Percent of Total | 2.30% | 2.60% |
Loans_Loan_Portfolio_Segmented
Loans - Loan Portfolio Segmented By Risk Class (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | $774,037 | $707,644 |
Less: Unearned origination fee, net of origination costs | -4,021 | -3,431 |
Total loans | 770,016 | 704,213 |
Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 751,493 | 682,430 |
Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 18,370 | 13,398 |
Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 4,174 | 11,607 |
Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 189 |
Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 20 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 300,338 | 273,432 |
Commercial | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 293,803 | 265,562 |
Commercial | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 6,022 | 6,064 |
Commercial | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 513 | 1,597 |
Commercial | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 189 |
Commercial | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 20 |
Real Estate Construction One-To- Four Family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 30,161 | 32,573 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 28,227 | 28,780 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 1,934 | 1,282 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 2,511 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Construction Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 32,599 | 21,061 |
Real Estate Construction Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 31,633 | 21,061 |
Real Estate Construction Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 966 | 0 |
Real Estate Construction Other | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Construction Other | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Construction Other | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Owner Occupied | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 91,098 | 78,107 |
Real Estate Term Owner Occupied | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 84,191 | 73,985 |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 6,235 | 2,522 |
Real Estate Term Owner Occupied | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 672 | 1,600 |
Real Estate Term Owner Occupied | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Non-Owner Occupied | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 255,324 | 234,643 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 251,384 | 230,010 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 2,620 | 2,546 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 1,320 | 2,087 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 29,976 | 31,809 |
Real Estate Term Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 28,684 | 28,304 |
Real Estate Term Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 126 |
Real Estate Term Other | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 1,292 | 3,379 |
Real Estate Term Other | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Real Estate Term Other | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Consumer Secured By 1st Deed Of Trust | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 16,483 | 17,714 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 15,877 | 16,911 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 397 | 620 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 209 | 183 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Consumer Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 18,058 | 18,305 |
Consumer Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 17,694 | 17,817 |
Consumer Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 196 | 238 |
Consumer Other | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 168 | 250 |
Consumer Other | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | 0 | 0 |
Consumer Other | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Subtotal | $0 | $0 |
Loans_Nonaccrual_Loans_By_Segm
Loans - Nonaccrual Loans By Segment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | $1,815 | $4,531 |
Commercial | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 222 | 1,214 |
Real Estate Construction One-To- Four Family | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 0 | 1,264 |
Real Estate Construction Other | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 0 | 0 |
Real Estate Term Owner Occupied | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 0 | 0 |
Real Estate Term Non-Owner Occupied | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 151 | 185 |
Real Estate Term Other | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 1,136 | 1,451 |
Consumer Secured By 1st Deed Of Trust | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | 187 | 183 |
Consumer Other | ' | ' |
Nonaccrual Loans By Major Loan Type [Line Items] | ' | ' |
Total | $119 | $234 |
Loans_Past_Due_Loans_And_Nonac
Loans - Past Due Loans And Nonaccrual Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | $1,057,000 | $935,000 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 1,815,000 | 4,531,000 |
Total Past Due and Nonaccrual, Subtotal | 2,872,000 | 5,466,000 |
Total Current, Subtotal | 771,165,000 | 702,178,000 |
Total Financing Receivables | 774,037,000 | 707,644,000 |
Less: Unearned origination fee, net of origination costs | -4,021,000 | -3,431,000 |
Total loans | 770,016,000 | 704,213,000 |
Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | 672,000 | 401,000 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 127,000 | 0 |
Total Past Due and Nonaccrual, Subtotal | 799,000 | 401,000 |
Total Current, Subtotal | 750,694,000 | 682,029,000 |
Total Financing Receivables | 751,493,000 | 682,430,000 |
Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | 385,000 | 534,000 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 0 | 596,000 |
Total Past Due and Nonaccrual, Subtotal | 385,000 | 1,130,000 |
Total Current, Subtotal | 17,985,000 | 12,268,000 |
Total Financing Receivables | 18,370,000 | 13,398,000 |
Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | 0 | 0 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 1,688,000 | 3,726,000 |
Total Past Due and Nonaccrual, Subtotal | 1,688,000 | 3,726,000 |
Total Current, Subtotal | 2,486,000 | 7,881,000 |
Total Financing Receivables | 4,174,000 | 11,607,000 |
Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | 0 | 0 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 0 | 189,000 |
Total Past Due and Nonaccrual, Subtotal | 0 | 189,000 |
Total Current, Subtotal | 0 | 0 |
Total Financing Receivables | 0 | 189,000 |
Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due Still Accruing, Subtotal | 0 | 0 |
60-89 Days Past Due Still Accruing, Subtotal | 0 | 0 |
Greater Than 90 Days Still Accruing, Subtotal | 0 | 0 |
Nonaccrual loans | 0 | 20,000 |
Total Past Due and Nonaccrual, Subtotal | 0 | 20,000 |
Total Current, Subtotal | 0 | 0 |
Total Financing Receivables | $0 | $20,000 |
Loans_Impaired_Loans_Details
Loans - Impaired Loans (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $8,565 | $11,683 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 8,989 | 12,207 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 186 | 1,410 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 186 | 1,410 |
Related Allowance | 11 | 659 |
Recorded Investment | 8,751 | 13,093 |
Unpaid Principal Balance | 9,175 | 13,617 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 10,050 | 10,763 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 461 | 429 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 835 | 2,848 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 7 |
Impaired Financing Receivable, Average Recorded Investment | 10,885 | 13,611 |
Impaired Financing Receivable, Interest Income, Accrual Method | 461 | 436 |
Commercial | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 181 | 53 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 181 | 53 |
Related Allowance | 0 | 0 |
Recorded Investment | 181 | 53 |
Unpaid Principal Balance | 181 | 53 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 138 | 330 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 13 | 20 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 66 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 138 | 396 |
Impaired Financing Receivable, Interest Income, Accrual Method | 13 | 20 |
Commercial | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 314 | 332 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 314 | 332 |
Related Allowance | 0 | 0 |
Recorded Investment | 314 | 332 |
Unpaid Principal Balance | 314 | 332 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 366 | 279 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 36 | 19 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 147 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 366 | 426 |
Impaired Financing Receivable, Interest Income, Accrual Method | 36 | 19 |
Commercial | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 343 | 981 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 488 | 1,064 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | ' | 427 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | ' | 427 |
Related Allowance | 0 | 284 |
Recorded Investment | 343 | 1,408 |
Unpaid Principal Balance | 488 | 1,491 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 710 | 926 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 28 | 19 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 109 | 163 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 819 | 1,089 |
Impaired Financing Receivable, Interest Income, Accrual Method | 28 | 19 |
Commercial | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | ' | 189 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | ' | 189 |
Related Allowance | ' | 160 |
Recorded Investment | ' | 189 |
Unpaid Principal Balance | ' | 189 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 509 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 64 | 208 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 64 | 717 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Commercial | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 28 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 46 | 158 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 46 | 186 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 118 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 118 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 353 | 470 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 353 | 470 |
Related Allowance | 0 | 0 |
Recorded Investment | 353 | 470 |
Unpaid Principal Balance | 353 | 470 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 411 | 118 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 411 | 118 |
Impaired Financing Receivable, Interest Income, Accrual Method | 6 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 382 | 667 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 382 | 667 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | ' | 794 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | ' | 794 |
Related Allowance | ' | 215 |
Recorded Investment | ' | 794 |
Unpaid Principal Balance | ' | 794 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 202 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 202 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Construction Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,686 | 2,748 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,686 | 2,748 |
Related Allowance | 0 | 0 |
Recorded Investment | 1,686 | 2,748 |
Unpaid Principal Balance | 1,686 | 2,748 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 2,238 | 2,105 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 2,238 | 2,105 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Construction Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 834 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 834 | ' |
Related Allowance | 0 | ' |
Recorded Investment | 834 | ' |
Unpaid Principal Balance | 834 | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 413 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 58 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 413 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 58 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 512 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 512 | ' |
Related Allowance | 0 | ' |
Recorded Investment | 512 | ' |
Unpaid Principal Balance | 512 | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 389 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 35 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 389 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 35 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 484 | 1,083 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 484 | 1,083 |
Related Allowance | 0 | 0 |
Recorded Investment | 484 | 1,083 |
Unpaid Principal Balance | 484 | 1,083 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 859 | 664 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 66 | 41 |
Impaired Financing Receivable, Average Recorded Investment | 859 | 664 |
Impaired Financing Receivable, Interest Income, Accrual Method | 66 | 41 |
Real Estate Term Owner Occupied | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 672 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 672 | ' |
Related Allowance | 0 | ' |
Recorded Investment | 672 | ' |
Unpaid Principal Balance | 672 | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 337 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 18 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 337 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 18 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 93 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 93 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Loss | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 100 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 5 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 100 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 5 | 0 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 90 | 1,216 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | 95 |
Impaired Financing Receivable, Average Recorded Investment | 90 | 1,216 |
Impaired Financing Receivable, Interest Income, Accrual Method | 6 | 95 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 786 | 555 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 786 | 555 |
Related Allowance | 0 | 0 |
Recorded Investment | 786 | 555 |
Unpaid Principal Balance | 786 | 555 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 842 | 340 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 83 | 22 |
Impaired Financing Receivable, Average Recorded Investment | 842 | 340 |
Impaired Financing Receivable, Interest Income, Accrual Method | 83 | 22 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 955 | 1,705 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 955 | 1,705 |
Related Allowance | 0 | 0 |
Recorded Investment | 955 | 1,705 |
Unpaid Principal Balance | 955 | 1,705 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,340 | 1,185 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 78 | 98 |
Impaired Financing Receivable, Average Recorded Investment | 1,340 | 1,185 |
Impaired Financing Receivable, Interest Income, Accrual Method | 78 | 98 |
Real Estate Term Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 40 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 6 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 40 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 6 |
Real Estate Term Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | ' | 126 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | ' | 205 |
Related Allowance | ' | 0 |
Recorded Investment | ' | 126 |
Unpaid Principal Balance | ' | 205 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 623 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 33 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 623 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 33 |
Real Estate Term Other | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,292 | 3,379 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,571 | 3,659 |
Related Allowance | 0 | 0 |
Recorded Investment | 1,292 | 3,379 |
Unpaid Principal Balance | 1,571 | 3,659 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,440 | 2,047 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 20 | 66 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 1,077 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 7 |
Impaired Financing Receivable, Average Recorded Investment | 1,440 | 3,124 |
Impaired Financing Receivable, Interest Income, Accrual Method | 20 | 73 |
Real Estate Term Other | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 59 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 59 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 88 | 93 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 88 | 93 |
Related Allowance | 0 | 0 |
Recorded Investment | 88 | 93 |
Unpaid Principal Balance | 88 | 93 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 90 | 95 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 5 | 5 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 88 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 90 | 183 |
Impaired Financing Receivable, Interest Income, Accrual Method | 5 | 5 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 21 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 21 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 0 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 186 | ' |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 186 | ' |
Related Allowance | 11 | ' |
Recorded Investment | 186 | ' |
Unpaid Principal Balance | 186 | ' |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 194 | 0 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 194 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Consumer Other | Asset Quality Rating - Pass | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 102 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 5 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 102 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 5 |
Consumer Other | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Consumer Other | Asset Quality Rating - Substandard | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 65 | ' |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 65 | ' |
Related Allowance | 0 | ' |
Recorded Investment | 65 | ' |
Unpaid Principal Balance | 65 | ' |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 148 | 63 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 3 | 0 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 40 | 13 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 188 | 76 |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 0 |
Consumer Other | Asset Quality Rating - Doubtful | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | ' | 158 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | ' | 240 |
Related Allowance | ' | 0 |
Recorded Investment | ' | 158 |
Unpaid Principal Balance | ' | $240 |
Loans_Troubled_Debt_Restructur
Loans - Troubled Debt Restructured Loans (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | $635,000 | ' |
Existing troubled debt restructurings | 7,277,000 | ' |
Total Modifications | 7,912,000 | 12,100,000 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 353,000 | ' |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 282,000 | ' |
Accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 635,000 | ' |
Existing troubled debt restructurings | 6,000,000 | ' |
Total Modifications | 6,635,000 | ' |
Accrual | Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 353,000 | ' |
Accrual | Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 282,000 | ' |
Nonaccrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 0 | ' |
Existing troubled debt restructurings | 1,277,000 | ' |
Total Modifications | 1,277,000 | ' |
Nonaccrual | Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | 0 | ' |
Nonaccrual | Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructuring recorded investment | $0 | ' |
Loans_Newly_Restructured_Loans
Loans - Newly Restructured Loans (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Contract | |
Financing Receivable, Modifications [Line Items] | ' |
Pre-Modification Outstanding Recorded Investment, Number of Contracts | 2 |
Pre-Modification Outstanding Recorded Investment, Rate Modification | $0 |
Pre-Modification Outstanding Recorded Investment, Term Modification | 283 |
Pre-Modification Outstanding Recorded Investment, Payment Modification | 353 |
Pre-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Total Modification | 636 |
Post-Modification Outstanding Recorded Investment, Number of Contracts | 2 |
Post-Modification Outstanding Recorded Investment, Rate Modification | 0 |
Post-Modification Outstanding Recorded Investment, Term Modification | 282 |
Post-Modification Outstanding Recorded Investment, Payment Modification | 353 |
Post-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Post-Modification Outstanding Recorded Investment, Total Modification | 635 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' |
Financing Receivable, Modifications [Line Items] | ' |
Pre-Modification Outstanding Recorded Investment, Number of Contracts | 1 |
Pre-Modification Outstanding Recorded Investment, Rate Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Term Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Payment Modification | 353 |
Pre-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Total Modification | 353 |
Post-Modification Outstanding Recorded Investment, Number of Contracts | 1 |
Post-Modification Outstanding Recorded Investment, Rate Modification | 0 |
Post-Modification Outstanding Recorded Investment, Term Modification | 0 |
Post-Modification Outstanding Recorded Investment, Payment Modification | 353 |
Post-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Post-Modification Outstanding Recorded Investment, Total Modification | 353 |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' |
Financing Receivable, Modifications [Line Items] | ' |
Pre-Modification Outstanding Recorded Investment, Number of Contracts | 1 |
Pre-Modification Outstanding Recorded Investment, Rate Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Term Modification | 283 |
Pre-Modification Outstanding Recorded Investment, Payment Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Pre-Modification Outstanding Recorded Investment, Total Modification | 283 |
Post-Modification Outstanding Recorded Investment, Number of Contracts | 1 |
Post-Modification Outstanding Recorded Investment, Rate Modification | 0 |
Post-Modification Outstanding Recorded Investment, Term Modification | 282 |
Post-Modification Outstanding Recorded Investment, Payment Modification | 0 |
Post-Modification Outstanding Recorded Investment, Combination Modification | 0 |
Post-Modification Outstanding Recorded Investment, Total Modification | $282 |
Loans_Troubled_Debt_Restructur1
Loans - Troubled Debt Restructurings That Subsequently Defaulted (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 6 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | $0 | $3,077 | $0 |
Commercial | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 0 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 0 | 0 |
Commercial | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 2 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 300 | 0 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 1 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 794 | 0 |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 0 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 0 | 0 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 1 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 846 | 0 |
Real Estate Term Other | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 1 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | 0 | 1,044 | 0 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Troubled Debt Restructurings that Subsequently Defaulted, Number of Contracts | 0 | 1 | 0 |
Troubled Debt Restructurings that Subsequently Defaulted, Recorded Investment | $0 | $93 | $0 |
Loans_Analysis_Of_Loan_Transac
Loans - Analysis Of Loan Transactions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loans [Abstract] | ' | ' |
Balance, beginning of the year | $373 | $402 |
Loans made | 2,439 | 210 |
Repayments | 476 | 239 |
Balance, end of year | $2,336 | $373 |
Allowance_For_Loan_Losses_Allo
Allowance For Loan Losses - Allowance For Loan Losses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Duration of loss history used to calculate general reserve | '5 years | ' |
Balance, beginning of period | $16,408 | $16,503 |
Charge-Offs | -1,196 | -1,172 |
Recoveries | 1,705 | 2,636 |
Provision (benefit) | 635 | 1,559 |
Balance, end of period | 16,282 | 16,408 |
Balance, end of period: Individually evaluated for impairment | 11 | 659 |
Balance, end of period: Collectively evaluated for impairment | 16,271 | 15,749 |
Commercial | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 6,308 | 6,783 |
Charge-Offs | -1,018 | -496 |
Recoveries | 1,049 | 2,518 |
Provision (benefit) | 560 | 2,497 |
Balance, end of period | 5,779 | 6,308 |
Balance, end of period: Individually evaluated for impairment | 0 | 444 |
Balance, end of period: Collectively evaluated for impairment | 5,779 | 5,864 |
Real Estate Construction One-To- Four Family | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 1,029 | 468 |
Charge-Offs | 0 | 0 |
Recoveries | 77 | 48 |
Provision (benefit) | 549 | -513 |
Balance, end of period | 557 | 1,029 |
Balance, end of period: Individually evaluated for impairment | 0 | 215 |
Balance, end of period: Collectively evaluated for impairment | 557 | 814 |
Real Estate Construction Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 326 | 1,169 |
Charge-Offs | 0 | 0 |
Recoveries | 79 | 0 |
Provision (benefit) | -134 | 843 |
Balance, end of period | 539 | 326 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | 539 | 326 |
Real Estate Term Owner Occupied | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 1,441 | 1,272 |
Charge-Offs | 0 | -274 |
Recoveries | 0 | 0 |
Provision (benefit) | -142 | -443 |
Balance, end of period | 1,583 | 1,441 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | 1,583 | 1,441 |
Real Estate Term Non-Owner Occupied | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 4,065 | 2,975 |
Charge-Offs | 0 | 0 |
Recoveries | 488 | 0 |
Provision (benefit) | 256 | -1,090 |
Balance, end of period | 4,297 | 4,065 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | 4,297 | 4,065 |
Real Estate Term Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 539 | 788 |
Charge-Offs | 0 | -280 |
Recoveries | 0 | 50 |
Provision (benefit) | 2 | 19 |
Balance, end of period | 537 | 539 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | 537 | 539 |
Consumer Secured By 1st Deed Of Trust | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 344 | 374 |
Charge-Offs | -14 | 0 |
Recoveries | 0 | 0 |
Provision (benefit) | 8 | 30 |
Balance, end of period | 322 | 344 |
Balance, end of period: Individually evaluated for impairment | 11 | 0 |
Balance, end of period: Collectively evaluated for impairment | 311 | 344 |
Consumer Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 388 | 418 |
Charge-Offs | -164 | -122 |
Recoveries | 12 | 20 |
Provision (benefit) | -154 | -72 |
Balance, end of period | 390 | 388 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | 390 | 388 |
Unallocated | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Balance, beginning of period | 1,968 | 2,256 |
Charge-Offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision (benefit) | -310 | 288 |
Balance, end of period | 2,278 | 1,968 |
Balance, end of period: Individually evaluated for impairment | 0 | 0 |
Balance, end of period: Collectively evaluated for impairment | $2,278 | $1,968 |
Allowance_For_Loan_Losses_Reco
Allowance For Loan Losses - Recorded Investment Segregated By Amounts Individually Or Collectively In Allowance For Loan Losses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | $774,037 | $707,644 |
Balance, end of period: Individually evaluated for impairment | 8,751 | 13,093 |
Balance, end of period: Collectively evaluated for impairment | 765,286 | 694,551 |
Commercial | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 300,338 | 273,432 |
Balance, end of period: Individually evaluated for impairment | 838 | 2,452 |
Balance, end of period: Collectively evaluated for impairment | 299,500 | 270,980 |
Real Estate Construction One-To- Four Family | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 30,161 | 32,573 |
Balance, end of period: Individually evaluated for impairment | 353 | 794 |
Balance, end of period: Collectively evaluated for impairment | 29,808 | 31,779 |
Real Estate Construction Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 32,599 | 21,061 |
Balance, end of period: Individually evaluated for impairment | 2,520 | 2,748 |
Balance, end of period: Collectively evaluated for impairment | 30,079 | 18,313 |
Real Estate Term Owner Occupied | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 91,098 | 78,107 |
Balance, end of period: Individually evaluated for impairment | 1,668 | 1,083 |
Balance, end of period: Collectively evaluated for impairment | 89,430 | 77,024 |
Real Estate Term Non-Owner Occupied | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 255,324 | 234,643 |
Balance, end of period: Individually evaluated for impairment | 1,741 | 2,260 |
Balance, end of period: Collectively evaluated for impairment | 253,583 | 232,383 |
Real Estate Term Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 29,976 | 31,809 |
Balance, end of period: Individually evaluated for impairment | 1,292 | 3,505 |
Balance, end of period: Collectively evaluated for impairment | 28,684 | 28,304 |
Consumer Secured By 1st Deed Of Trust | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 16,483 | 17,714 |
Balance, end of period: Individually evaluated for impairment | 274 | 93 |
Balance, end of period: Collectively evaluated for impairment | 16,209 | 17,621 |
Consumer Other | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total Financing Receivables | 18,058 | 18,305 |
Balance, end of period: Individually evaluated for impairment | 65 | 158 |
Balance, end of period: Collectively evaluated for impairment | $17,993 | $18,147 |
Allowance_For_Loan_Losses_Bala
Allowance For Loan Losses - Balance Of The Allowance Segregated By Segment And Class (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | $11 | $659 | ' |
Collectively evaluated for impairment | 16,271 | 15,749 | ' |
Total | 16,282 | 16,408 | 16,503 |
Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 13,325 | 12,930 | ' |
Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 586 | 490 | ' |
Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 11 | 284 | ' |
Collectively evaluated for impairment | 82 | 362 | ' |
Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 374 | ' |
Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 2,278 | 1,968 | ' |
Commercial | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 444 | ' |
Collectively evaluated for impairment | 5,779 | 5,864 | ' |
Total | 5,779 | 6,308 | 6,783 |
Commercial | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 5,482 | 5,520 | ' |
Commercial | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 278 | 321 | ' |
Commercial | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 284 | ' |
Collectively evaluated for impairment | 19 | 23 | ' |
Commercial | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 160 | ' |
Commercial | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Construction One-To- Four Family | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 215 | ' |
Collectively evaluated for impairment | 557 | 814 | ' |
Total | 557 | 1,029 | 468 |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 527 | 711 | ' |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 30 | 16 | ' |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 88 | ' |
Real Estate Construction One-To- Four Family | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 214 | ' |
Real Estate Construction One-To- Four Family | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Construction Other | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 539 | 326 | ' |
Total | 539 | 326 | 1,169 |
Real Estate Construction Other | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 537 | 326 | ' |
Real Estate Construction Other | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 2 | 0 | ' |
Real Estate Construction Other | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Construction Other | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Real Estate Construction Other | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Term Owner Occupied | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 1,583 | 1,441 | ' |
Total | 1,583 | 1,441 | 1,272 |
Real Estate Term Owner Occupied | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 1,381 | 1,242 | ' |
Real Estate Term Owner Occupied | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 202 | 51 | ' |
Real Estate Term Owner Occupied | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 148 | ' |
Real Estate Term Owner Occupied | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Real Estate Term Owner Occupied | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Term Non-Owner Occupied | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 4,297 | 4,065 | ' |
Total | 4,297 | 4,065 | 2,975 |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 4,225 | 3,961 | ' |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 30 | 34 | ' |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 42 | 70 | ' |
Real Estate Term Non-Owner Occupied | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Real Estate Term Non-Owner Occupied | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Term Other | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 537 | 539 | ' |
Total | 537 | 539 | 788 |
Real Estate Term Other | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 537 | 539 | ' |
Real Estate Term Other | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Term Other | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Real Estate Term Other | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Real Estate Term Other | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Consumer Secured By 1st Deed Of Trust | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 11 | 0 | ' |
Collectively evaluated for impairment | 311 | 344 | ' |
Total | 322 | 344 | 374 |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 274 | 280 | ' |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 36 | 56 | ' |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 11 | 0 | ' |
Collectively evaluated for impairment | 1 | 8 | ' |
Consumer Secured By 1st Deed Of Trust | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Consumer Secured By 1st Deed Of Trust | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Consumer Other | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 390 | 388 | ' |
Total | 390 | 388 | 418 |
Consumer Other | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 362 | 351 | ' |
Consumer Other | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 8 | 12 | ' |
Consumer Other | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 20 | 25 | ' |
Consumer Other | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Consumer Other | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 2,278 | 1,968 | ' |
Total | 2,278 | 1,968 | 2,256 |
Unallocated | Asset Quality Rating - Pass | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Unallocated | Asset Quality Rating - Special Mention | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Unallocated | Asset Quality Rating - Substandard | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | 0 | 0 | ' |
Collectively evaluated for impairment | 0 | 0 | ' |
Unallocated | Asset Quality Rating - Doubtful | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Individually evaluated for impairment | ' | 0 | ' |
Unallocated | Unallocated | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Collectively evaluated for impairment | $2,278 | $1,968 | ' |
Purchased_Receivables_Summary_
Purchased Receivables - Summary Of Componenets Of Net Purchased Receivables (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Purchased Receivables [Abstract] | ' | ' | ' |
Purchased receivables | $16,298 | $19,345 | ' |
Reserve for purchased receivable losses | -273 | -323 | 0 |
Total | $16,025 | $19,022 | ' |
Purchased_Receivables_Addition
Purchased Receivables - Additional Information (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Charge-offs | $1,196,000 | $1,172,000 | ' |
Number Of Segments And Classes Of Purchased Receivables | 1 | ' | ' |
Purchased Receivables Past Due | 2,872,000 | 5,466,000 | ' |
Total Modifications | 7,912,000 | 12,100,000 | ' |
Purchased Receivable | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Charge-offs | 150,000 | 34,000 | ' |
Purchased Receivables Past Due | 0 | 0 | ' |
Total Modifications | $0 | $0 | $0 |
Purchased_Receivables_Summary_1
Purchased Receivables - Summary of Allowance for Loan Losses Purchased Receivables (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' |
Balance at beginning of period | $323 | $0 |
Charge-offs | -1,196 | -1,172 |
Balance at end of period | 273 | 323 |
Purchased Receivable | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' |
Charge-offs | -150 | -34 |
Recoveries | 0 | 0 |
Charge-offs net of recoveries | -150 | -34 |
Reserve of purchased receivables | $100 | $357 |
Premises_And_Equipment_Details
Premises And Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises and Equipment | $47,055 | $45,022 | ' |
Accumulated depreciation and amortization | -18,731 | -17,114 | ' |
Total Premises and Equipment, Net | 28,324 | 27,908 | ' |
Depreciation expense and amortization of leasehold improvements | 1,793 | 1,674 | 1,719 |
Land | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises and Equipment | 3,201 | 3,201 | ' |
Furniture And Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises and Equipment | 9,988 | 9,389 | ' |
Tenant Improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total Premises and Equipment | 6,776 | 6,771 | ' |
Buildings | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment, useful Life | '39 years | '39 years | ' |
Total Premises and Equipment | $27,090 | $25,661 | ' |
Minimum | Furniture And Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment, useful Life | '3 years | '3 years | ' |
Minimum | Tenant Improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment, useful Life | '2 years | '2 years | ' |
Maximum | Furniture And Equipment | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment, useful Life | '7 years | '7 years | ' |
Maximum | Tenant Improvements | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Premises and equipment, useful Life | '15 years | '15 years | ' |
Other_Real_Estate_Owned_Detail
Other Real Estate Owned (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Real Estate Owned Expense [Line Items] | ' | ' | ' |
OREO | $2,402 | $4,543 | ' |
Total | 60 | -1,089 | 710 |
OREO operating expense | ' | ' | ' |
Other Real Estate Owned Expense [Line Items] | ' | ' | ' |
Total | -142 | -701 | -335 |
Impairment on OREO | ' | ' | ' |
Other Real Estate Owned Expense [Line Items] | ' | ' | ' |
Total | -112 | -469 | -92 |
Rental income on OREO | ' | ' | ' |
Other Real Estate Owned Expense [Line Items] | ' | ' | ' |
Total | 26 | 35 | 248 |
Gains on sale of OREO | ' | ' | ' |
Other Real Estate Owned Expense [Line Items] | ' | ' | ' |
Total | $288 | $46 | $889 |
Goodwill_Intangible_And_Other_2
Goodwill, Intangible And Other Assets - Narrative (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | |
Alaska First | Alaska First | Centerline XXXIII | Centerline XXII | RML | ECIA | Pacific Wealth Advisors, LLC | ECCM | ||||
line_of_credit | |||||||||||
Prepaid expenses | $1,400,000 | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid FDIC assessments | 0 | 3,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill recorded | 7,525,000 | 7,525,000 | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' |
CDI recorded | ' | ' | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life, years | ' | ' | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' |
Intangible asset amortization expense | 228,000 | 252,000 | 275,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated amortization for intangible assets | 6,200,000 | 5,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity interest percentage | ' | ' | ' | ' | ' | ' | ' | 24.00% | 43.00% | 23.00% | 43.00% |
Line of credit committed amount | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | ' | ' | 500,000 |
Line of credit outstanding balance | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | ' | ' | 339,000 |
Number of lines of credit provided to subsidiary | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Payments to Purchase Loans Held-for-sale | -156,521,000 | -242,535,000 | -82,915,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of personal guarantee against losses by majority owner of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% |
Equity Method Investment Summarized Financial Information, Equity | ' | ' | ' | ' | ' | ' | ' | 23,100,000 | ' | ' | ' |
Equity Method Investment, Summarized Financial Information, Assets | ' | ' | ' | ' | ' | ' | ' | 50,700,000 | ' | ' | ' |
Equity Method Investment, Summarized Financial Information, Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' |
Commitments to invest | 22,175,000 | ' | ' | ' | ' | 3,000,000 | 3,000,000 | ' | ' | ' | ' |
Amortization expense | 969,000 | 921,000 | 902,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments to invest remaining to be funded | $11,047,000 | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' |
Goodwill_Intangible_And_Other_3
Goodwill, Intangible And Other Assets - Intangible Assets And Other Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Assets [Line Items] | ' | ' |
Goodwill | $7,525 | $7,525 |
Core deposit intangible | 214 | 328 |
NBG customer relationships | 203 | 317 |
Intangible Assets Total | 7,942 | 8,170 |
Other Assets Total | 40,666 | 34,889 |
Income Taxes Receivable | 1,526 | 1,432 |
Investment In Low Income Housing Partnerships | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 15,681 | 5,974 |
Deferred Taxes, Net | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 8,776 | 9,991 |
Investment In RML Holding Company | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 5,953 | 6,153 |
Bank Owned Life Insurance | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 2,678 | 2,726 |
Investment In PWA | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 1,484 | 1,575 |
Prepaid Expenses | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 1,393 | 4,388 |
Note Receivable From ECCM | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 339 | 339 |
Investment In ECCM | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 74 | 36 |
Investment In ECIA | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | 61 | 56 |
Other Assets | ' | ' |
Other Assets [Line Items] | ' | ' |
Other Assets Total | $2,701 | $2,219 |
Goodwill_Intangible_And_Other_4
Goodwill, Intangible And Other Assets - Future Amortization Expense (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $204 |
2015 | 153 |
2016 | 42 |
2017 | 18 |
2018 | 0 |
Thereafter | 0 |
Total | $417 |
Goodwill_Intangible_And_Other_5
Goodwill, Intangible And Other Assets - Summary Balance Sheet And Income Statement Information For Affiliate (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Cash | $33,112 | ' | ' | ' | $40,834 | ' | ' | ' | $33,112 | $40,834 | ' | ' |
Loans held for sale | 11,301 | ' | ' | ' | 11,705 | ' | ' | ' | 11,301 | 11,705 | ' | ' |
Other assets | 40,666 | ' | ' | ' | 34,889 | ' | ' | ' | 40,666 | 34,889 | ' | ' |
Total assets | 1,215,006 | ' | ' | ' | 1,160,107 | ' | ' | ' | 1,215,006 | 1,160,107 | ' | ' |
Other liabilities | 20,737 | ' | ' | ' | 11,550 | ' | ' | ' | 20,737 | 11,550 | ' | ' |
Total liabilities | 1,070,688 | ' | ' | ' | 1,023,754 | ' | ' | ' | 1,070,688 | 1,023,754 | ' | ' |
Shareholders' Equity | 144,318 | ' | ' | ' | 136,353 | ' | ' | ' | 144,318 | 136,353 | 125,435 | 117,122 |
Total liabilities and shareholders' equity | 1,215,006 | ' | ' | ' | 1,160,107 | ' | ' | ' | 1,215,006 | 1,160,107 | ' | ' |
Net Income | 2,579 | 3,464 | 3,605 | 2,764 | 3,280 | 4,204 | 3,286 | 2,688 | 12,412 | 13,458 | 11,827 | ' |
RML | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 11,852 | ' | ' | ' | 13,547 | ' | ' | ' | 11,852 | 13,547 | ' | ' |
Loans held for sale | 24,807 | ' | ' | ' | 59,840 | ' | ' | ' | 24,807 | 59,840 | ' | ' |
Other assets | 14,084 | ' | ' | ' | 15,777 | ' | ' | ' | 14,084 | 15,777 | ' | ' |
Total assets | 50,743 | ' | ' | ' | 89,164 | ' | ' | ' | 50,743 | 89,164 | ' | ' |
Lines of credit | 21,949 | ' | ' | ' | 56,932 | ' | ' | ' | 21,949 | 56,932 | ' | ' |
Other liabilities | 5,652 | ' | ' | ' | 7,481 | ' | ' | ' | 5,652 | 7,481 | ' | ' |
Total liabilities | 27,601 | ' | ' | ' | 64,413 | ' | ' | ' | 27,601 | 64,413 | ' | ' |
Shareholders' Equity | 23,142 | ' | ' | ' | 24,751 | ' | ' | ' | 23,142 | 24,751 | ' | ' |
Total liabilities and shareholders' equity | 50,743 | ' | ' | ' | 89,164 | ' | ' | ' | 50,743 | 89,164 | ' | ' |
Gross income | ' | ' | ' | ' | ' | ' | ' | ' | 22,224 | 31,113 | ' | ' |
Total expense | ' | ' | ' | ' | ' | ' | ' | ' | 18,313 | 20,033 | ' | ' |
Joint venture allocations | ' | ' | ' | ' | ' | ' | ' | ' | 555 | 84 | ' | ' |
Net Income | ' | ' | ' | ' | ' | ' | ' | ' | $4,466 | $11,164 | ' | ' |
Goodwill_Intangible_And_Other_6
Goodwill, Intangible And Other Assets - Summary of Commitment to Invest in Low Income Housing Partnerships (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Other Commitments [Line Items] | ' |
Original Commitment to Invest in Low Income Housing Partnership | $22,175 |
Cumulative Investment in Low Income Housing Partnership | -11,128 |
Remaining Commitment to Invest in Low Income Housing Partnership | 11,047 |
R4 | ' |
Other Commitments [Line Items] | ' |
Low Income Housing Tax Credits, Period Over Which Credits are Earned | '17 years |
Original Commitment to Invest in Low Income Housing Partnership | 10,675 |
Cumulative Investment in Low Income Housing Partnership | -909 |
Remaining Commitment to Invest in Low Income Housing Partnership | 9,766 |
WNC | ' |
Other Commitments [Line Items] | ' |
Low Income Housing Tax Credits, Period Over Which Credits are Earned | '16 years |
Original Commitment to Invest in Low Income Housing Partnership | 2,500 |
Cumulative Investment in Low Income Housing Partnership | -1,219 |
Remaining Commitment to Invest in Low Income Housing Partnership | 1,281 |
USA 57 | ' |
Other Commitments [Line Items] | ' |
Low Income Housing Tax Credits, Period Over Which Credits are Earned | '15 years |
Original Commitment to Invest in Low Income Housing Partnership | 3,000 |
Cumulative Investment in Low Income Housing Partnership | -3,000 |
Remaining Commitment to Invest in Low Income Housing Partnership | 0 |
Centerline XXXIII | ' |
Other Commitments [Line Items] | ' |
Low Income Housing Tax Credits, Period Over Which Credits are Earned | '18 years |
Original Commitment to Invest in Low Income Housing Partnership | 3,000 |
Cumulative Investment in Low Income Housing Partnership | -3,000 |
Remaining Commitment to Invest in Low Income Housing Partnership | 0 |
Centerline XXII | ' |
Other Commitments [Line Items] | ' |
Low Income Housing Tax Credits, Period Over Which Credits are Earned | '18 years |
Original Commitment to Invest in Low Income Housing Partnership | 3,000 |
Cumulative Investment in Low Income Housing Partnership | -3,000 |
Remaining Commitment to Invest in Low Income Housing Partnership | $0 |
Deposits_Narrative_Details
Deposits - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deposits [Line Items] | ' | ' |
Certificates of deposit | $86,225,000 | ' |
Certificates of Deposit from Public Entities Collateralized by Letters of Credit from the Federal Home Loan Bank | 0 | 0 |
Securities pledged to collateralize certificates of deposit | 0 | 0 |
Deposits held for related parties | 12,500,000 | 11,400,000 |
CDARS | ' | ' |
Deposits [Line Items] | ' | ' |
Number of banks in CDARS | 3,000 | ' |
Percentage of coverage of certificates of deposit in CDARS | 100.00% | ' |
Certificates of deposit | $0 | $155,000 |
Deposits_Scheduled_Maturities_
Deposits - Scheduled Maturities Of Certificates Of Deposit (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Deposits [Abstract] | ' |
2014 | $55,355 |
2015 | 17,187 |
2016 | 12,855 |
2017 | 721 |
2018 | 107 |
Thereafter | 0 |
Total | $86,225 |
Deposits_Interest_Expense_on_D
Deposits - Interest Expense on Deposits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deposits [Abstract] | ' | ' | ' |
Interest Expense Domestic Deposit Liabilities, Notice of Withdrawal | $54 | $73 | $111 |
Interest Expense, Money Market Deposits | 338 | 432 | 591 |
Interest Expense, Savings Deposits | 485 | 503 | 622 |
Interest Expense, Time Deposits, $100,000 or More | 236 | 386 | 620 |
Interest Expense, Time Deposits, Less than $100,000 | 128 | 288 | 782 |
Interest Expense, Total Deposits | $1,241 | $1,682 | $2,726 |
Borrowings_Narrative_Details
Borrowings - Narrative (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Jul. 01, 2008 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Federal Home Loan Bank Advances | ' | $2,200,000 | ' | ' | ' | ' | ' | ' | ' | $2,200,000 | ' | ' |
Federal Home Loan Bank, Advance, Term of Advance | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 years | ' | ' |
Federal Home Loan Bank, Advance, Repayment Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 years | ' | ' |
Purchase of main office facility | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of purchase | 1-Jul-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note secured by building | 5,100,000 | 4,300,000 | ' | ' | ' | ' | ' | ' | ' | 4,300,000 | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-14 | ' | ' |
Interest rate | ' | 5.95% | ' | ' | ' | ' | ' | ' | ' | 5.95% | ' | ' |
Loans Pledged as Collateral | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' |
Interest paid, less than $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,035,000 | 2,510,000 | 3,792,000 |
Securities sold under agreements to repurchase | ' | 21,143,000 | ' | ' | ' | 19,038,000 | ' | ' | ' | 21,143,000 | 19,038,000 | ' |
Percentaged paid on securities sold under agreements to repurchase | ' | 0.08% | ' | ' | ' | 0.25% | ' | ' | ' | 0.08% | 0.25% | ' |
Average balance outstanding | ' | 19,400,000 | ' | ' | ' | 16,500,000 | ' | ' | ' | 19,400,000 | 16,500,000 | ' |
Maximum amount outstanding at any month end | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | 22,600,000 | ' |
Interest expense on deposits, borrowings and junior subordinated debentures | ' | 497,000 | 502,000 | 511,000 | 530,000 | 569,000 | 611,000 | 627,000 | 698,000 | 2,040,000 | 2,505,000 | 3,544,000 |
Debt, Weighted Average Interest Rate | ' | 5.13% | ' | ' | ' | 5.95% | ' | ' | ' | 5.13% | 5.95% | 5.95% |
FHLB Of Seattle | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of line of credit to eligible assets | ' | 13.00% | ' | ' | ' | ' | ' | ' | ' | 13.00% | ' | ' |
Line of credit | ' | 155,600,000 | ' | ' | ' | ' | ' | ' | ' | 155,600,000 | ' | ' |
Note Agreement With Federal Reserve Bank | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Pledged as Collateral | ' | 89,900,000 | ' | ' | ' | ' | ' | ' | ' | 89,900,000 | ' | ' |
Interest paid, less than $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | 1,000 | ' |
Discount Window | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Pledged as Collateral | ' | 60,900,000 | ' | ' | ' | ' | ' | ' | ' | 60,900,000 | ' | ' |
FHLB and Secured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense on deposits, borrowings and junior subordinated debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | $340,000 | $329,000 | $352,000 |
Borrowings_Future_Principal_Pa
Borrowings - Future Principal Payments Required On The Company's Borrowings (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $4,364 |
2015 | 45 |
2016 | 46 |
2017 | 48 |
2018 | 50 |
Thereafter | 1,974 |
Total | $6,527 |
Junior_Subordinated_Debentures1
Junior Subordinated Debentures (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-03 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2005 |
Northrim Capital Trust 1 | Northrim Capital Trust 1 | Northrim Capital Trust 1 | Northrim Capital Trust 1 | Northrim Capital Trust 2 | Northrim Capital Trust 2 | Northrim Capital Trust 2 | Northrim Capital Trust 2 | ||||||||||||
Investment in unconsolidated trust | $40,666 | ' | ' | ' | $34,889 | ' | ' | ' | $40,666 | $34,889 | ' | ' | ' | ' | $8,000 | ' | ' | ' | $10,000 |
Junior subordinated debentures | 18,558 | ' | ' | ' | 18,558 | ' | ' | ' | 18,558 | 18,558 | ' | 8,200 | ' | ' | ' | 10,300 | ' | ' | ' |
LIBOR period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | '90 days | ' | ' | ' |
Basis plus 90-day LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.15% | ' | ' | ' | 1.37% | ' | ' | ' |
Liquidation preference per capital security | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 | ' | ' | ' | $1,000 | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.39% | ' | ' | ' | 1.61% | ' | ' | ' |
Interest expense on deposits, borrowings and junior subordinated debentures | $497 | $502 | $511 | $530 | $569 | $611 | $627 | $698 | $2,040 | $2,505 | $3,544 | $278 | $292 | $281 | ' | $167 | $186 | $171 | ' |
Debt maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-14 | ' | ' | 15-May-33 | ' | ' | ' | 15-Mar-36 | ' | ' | ' |
Date debentures are redeemable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-May-08 | ' | ' | ' | 15-Mar-11 | ' | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
H | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Mandotory work hours per year | 1,000 | ' | ' |
Mandatory 401(k) match | $0.25 | ' | ' |
Maximum annual employer 401(k) contribution | 6.00% | ' | ' |
Amount expensed for 401(k) contributions | 673,000 | 620,000 | 721,000 |
Contributions to Supplemental Executive Retirement Plan | 220,000 | 302,000 | 335,000 |
Accrued liability for plan | 1,200,000 | 1,500,000 | ' |
Increase in non-qualified deferred compensation plan | 99,000 | 330,000 | 132,000 |
Aggregate payout under Profit Sharing Plan | 858,000 | 894,000 | ' |
Supplemental Employee Retirement Plans, Defined Benefit | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | ' | ' | ' |
Accrued liability for plan | $2,500,000 | $3,100,000 | ' |
Commitments_And_Contingent_Lia2
Commitments And Contingent Liabilities - Narrative (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 21, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' |
Reserve for Unfunded Loan Commitments and Letters of Credit | $96,000 | $87,000 | ' | ' |
Capital Expenditure Commitments, Due in Next Twelve Months | 2,200,000 | ' | ' | ' |
Rental expense under leases for equipment and premises | 667,000 | 957,000 | 953,000 | ' |
Rental income under leases | 108,000 | 773,000 | 776,000 | ' |
Limit on stop-loss insurance | '1 year | ' | ' | ' |
Stop-loss insurance limit per covered individual per year | 125,000 | ' | ' | ' |
Stop-loss insurance limit on all medical claims by individual | 1,000,000 | ' | ' | ' |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | ' | ' | ' | 13,869,274 |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low | ' | ' | ' | 12,513,666 |
Contingent Termination Fee Upon Breach of Contract | 600,000 | ' | ' | ' |
Contingent Termination Expense Upon Breach of Contract | $600,000 | ' | ' | ' |
Commitments_And_Contingent_Lia3
Commitments And Contingent Liabilities - Schedule Of Future Minimum Rental Payments For Operating Leases (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $635 |
2015 | 594 |
2016 | 474 |
2017 | 388 |
2018 | 347 |
Thereafter | 6,332 |
Total | $8,770 |
Commitments_And_Contingent_Lia4
Commitments And Contingent Liabilities - Off-Balance Sheet Commitments (Details) (USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments to extend credit | $208,328 |
Standby letters of credit | $22,132 |
Derivatives_Additional_Informa
Derivatives - Additional Information (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives, Value Shortfalls Threshold Triggering Additional Collateral Requirements | $250,000 | ' |
Derivative, Notional Amount | 25,800,000 | 25,800,000 |
Banking Fees and Commissions | 180,000 | ' |
Variable to Fixed | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | 12,900,000 | ' |
Derivative, Number of Instruments Held | 2 | ' |
Fixed to Variable | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative, Notional Amount | $12,900,000 | ' |
Derivative, Number of Instruments Held | 2 | ' |
Derivatives_Schedule_of_Deriva
Derivatives - Schedule of Derivative Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | $186 | $0 |
Derivative Asset, Fair Value, Gross Asset | 186 | 0 |
Interest Rate Swap | Other Assets | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 186 | 0 |
Interest Rate Swap | Other Liabilities | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liability, Fair Value, Gross Liability | $186 | $0 |
Common_Stock_Details
Common Stock (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Feb. 21, 2013 | Sep. 30, 2002 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' | ' | ' | ' | ' |
Aggregate quarterly cash dividends | ' | ' | $4,215 | $3,676 | $3,264 |
Cash dividends paid, per share | ' | ' | $0.64 | $0.56 | $0.50 |
Date dividends declared | ' | ' | 20-Feb-14 | ' | ' |
Cash dividends declared | $0.17 | ' | ' | ' | ' |
Date dividends will be paid | ' | ' | 21-Mar-14 | ' | ' |
Date dividends will be recorded | ' | ' | 13-Mar-14 | ' | ' |
Percentage of common stock authorized for repurchase | ' | 5.00% | ' | ' | ' |
Remaining shares available under stock repurchase program | ' | 227,242 | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | ' | 0 | 0 | ' |
Stock_Based_Compensation_Narra
Stock Based Compensation - Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Shares of authorized stock for stock incentive plan | 348,232 | ' | ' |
Stock-based compensation expense | $506 | $454 | $519 |
Stock Options And Restricted Stock Units | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Proceeds from exercise of stock options | 165 | 840 | 496 |
Shares withheld for stock option exercises and related income taxes | 170 | 888 | 515 |
Stock option expense | 87 | 61 | 82 |
Unrecognized compensation expense | 130 | ' | ' |
Weighted-average period for recognition of expense | '2 years 2 months 24 days | ' | ' |
Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share based compensation options contractual term | '10 years | ' | ' |
Stock incentive plan vesting period, years | '3 years | ' | ' |
Total intrinsic value of stock options exercised | 92 | 550 | 332 |
Restricted Stock Units | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock incentive plan vesting period, years | '3 years | ' | ' |
Total intrinsic value of stock options exercised | 667 | 556 | 567 |
Stock option expense | 419 | 393 | 437 |
Unrecognized compensation expense | $875 | ' | ' |
Weighted-average period for recognition of expense | '2 years 2 months 12 days | ' | ' |
Stock_Based_Compensation_Assum
Stock Based Compensation - Assumptions Used To Determine Fair Value of Stock Options (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Grant date fair value | $5.59 | $4.42 | $4.01 |
Expected life of options | '8 years | '8 years | '8 years |
Risk-free interest rate | 2.30% | 1.30% | 1.40% |
Dividend yield rate | 2.90% | 2.80% | 2.83% |
Price volatility | 28.89% | 28.51% | 28.56% |
Stock_Based_Compensation_Stock
Stock Based Compensation - Stock Options Activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Number of Shares, Outstanding at beginning of period | 203,125 |
Number of Shares, Granted | 13,843 |
Number of Shares, Forfeited | 0 |
Number of Shares, Exercised | -11,482 |
Number of Shares, Outstanding at end of period | 205,486 |
Weighted Average Exercise Price, Outstanding at beginning of period | $20.76 |
Weighted Average Exercise Price, Granted | $23.74 |
Weighted Average Exercise Price, Forfeited | $0 |
Weighted Average Exercise Price, Exercised | $14.38 |
Weighted Average Exercise Price, Outstanding at end of period | $21.32 |
Weighted Average Remaining Contractual Life, in Years, Outstanding at end of period | '4 years 7 months 17 days |
Stock_Based_Compensation_Restr
Stock Based Compensation - Restricted Stock Unit Activity (Details) (Restricted Stock Units, USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Number of Shares, Outstanding at beginning of period | 64,177 |
Number of Shares, Granted | 21,712 |
Number of Shares, Vested | -26,771 |
Number of Shares, Forfeited | 0 |
Number of Shares, Outstanding at end of period | 59,118 |
Weighted Average Grant Date Fair Value, Outstanding at beginning of period | $18.96 |
Weighted Average Grant Date Fair Value, Granted | $23.74 |
Weighted Average Grant Date Fair Value, Vested | $18.26 |
Weighted Average Grant Date Fair Value, Forfeited | $0 |
Weighted Average Grant Date Fair Value, Outstanding at end of period | $21.03 |
Weighted average Remaining Contractual Life, in Years, Outstanding at end of period | '1 year 11 months 4 days |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | 3 Months Ended | |||||
Dec. 31, 2005 | Jun. 30, 2003 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Northrim Bancorp, Inc. | Northrim Bancorp, Inc. | Northrim Bank | Northrim Bank | |||
Trust preferred securities offerings completed | $18,000,000 | $18,000,000 | ' | ' | ' | ' |
Total Capital (to risk-weighted assets), Actual Amount | ' | ' | 168,587,000 | 158,820,000 | 151,308,000 | 143,684,000 |
Total Capital (to risk-weighted assets), Actual Ratio | ' | ' | 16.61% | 16.60% | 15.00% | 15.12% |
Total Capital (to risk-weighted assets), Adequately-Capitalized Amount | ' | ' | 81,198,000 | 76,540,000 | 80,698,000 | 76,023,000 |
Total Capital (to risk-weighted assets), Adequately-Capitalized Ratio | ' | ' | 8.00% | 8.00% | 8.00% | 8.00% |
Total Capital (to risk-weighted assets), Well-Capitalized Amount | ' | ' | 101,497,000 | 95,675,000 | 100,872,000 | 95,029,000 |
Total Capital (to risk-weighted assets), Well-Capitalized Ratio | ' | ' | 10.00% | 10.00% | 10.00% | 10.00% |
Tier 1 Capital (to risk-weighted assets), Actual Amount | ' | ' | 155,851,000 | 146,802,000 | 138,650,000 | 131,748,000 |
Tier 1 Capital (to risk-weighted assets), Actual Ratio | ' | ' | 15.35% | 15.34% | 13.75% | 13.87% |
Tier 1 Capital (to risk-weighted assets), Adequately-Capitalized Amount | ' | ' | 40,613,000 | 38,280,000 | 40,335,000 | 37,995,000 |
Tier 1 Capital (to risk-weighted assets), Adequately Capitalized Ratio | ' | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Tier 1 Capital (to risk-weighted assets), Well-Capitalized Amount | ' | ' | 60,919,000 | 57,419,000 | 60,502,000 | 56,993,000 |
Tier 1 Capital (to risk-weighted assets), Well-Capitalized Ratio | ' | ' | 6.00% | 6.00% | 6.00% | 6.00% |
Tier I Capital (to average assets), Actual Amount | ' | ' | 155,851,000 | 146,802,000 | 138,650,000 | 131,748,000 |
Tier I Capital (to average assets), Actual Ratio | ' | ' | 13.06% | 12.99% | 11.68% | 11.74% |
Tier I Capital (to average assets), Adequately-Capitalized Amount | ' | ' | 47,734,000 | 45,205,000 | 47,483,000 | 44,889,000 |
Tier I Capital (to average assets), Adequately-Capitalized Ratio | ' | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Tier I Capital (to average assets), Well-Capitalized Amount | ' | ' | $59,667,000 | $56,506,000 | $59,354,000 | $56,111,000 |
Tier I Capital (to average assets), Well-Capitalized Ratio | ' | ' | 5.00% | 5.00% | 5.00% | 5.00% |
Income_Taxes_Narrative_Details
Income Taxes - Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Taxes receivable | $1,526 | $1,432 | ' |
Tax credits related to low income housing partnerships | 955 | 896 | 879 |
Alaska film tax credits | $398 | ' | ' |
U.S. Federal Statutory Tax Rate | 35.00% | 35.00% | 35.00% |
Income_Taxes_Components_Of_The
Income Taxes - Components Of The Provision For Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current Tax Expense (Benefit), Federal | ' | ' | ' | ' | ' | ' | ' | ' | $3,227 | $4,169 | $4,941 |
Current Tax Expense (Benefit), State | ' | ' | ' | ' | ' | ' | ' | ' | 835 | 1,106 | 891 |
Current Tax Expense (Benefit), Total | ' | ' | ' | ' | ' | ' | ' | ' | 4,062 | 5,275 | 5,832 |
Deferred (Benefit), Federal | ' | ' | ' | ' | ' | ' | ' | ' | 1,034 | 750 | -816 |
Deferred (Benefit), State | ' | ' | ' | ' | ' | ' | ' | ' | 181 | 131 | -143 |
Deferred (Benefit), Total | ' | ' | ' | ' | ' | ' | ' | ' | 1,215 | 881 | -959 |
Total Expense, Federal | ' | ' | ' | ' | ' | ' | ' | ' | 4,261 | 4,919 | 4,125 |
Total Expense, State | ' | ' | ' | ' | ' | ' | ' | ' | 1,016 | 1,237 | 748 |
Total | $1,042 | $1,510 | $1,635 | $1,090 | $1,588 | $1,991 | $1,551 | $1,026 | $5,277 | $6,156 | $4,873 |
Income_Taxes_Reconciliation_Of
Income Taxes - Reconciliation Of Actual To Expected Tax Expense (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Computed "expected" income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | $6,192 | $6,864 | $5,695 |
State income taxes, net | ' | ' | ' | ' | ' | ' | ' | ' | 660 | 803 | 486 |
Low income housing credits | ' | ' | ' | ' | ' | ' | ' | ' | -955 | -896 | -879 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -620 | -615 | -429 |
Total | $1,042 | $1,510 | $1,635 | $1,090 | $1,588 | $1,991 | $1,551 | $1,026 | $5,277 | $6,156 | $4,873 |
Income_Taxes_Components_Of_The1
Income Taxes - Components Of The Net Deferred Tax Asset (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Income Tax Disclosure [Abstract] | ' | ' | ' |
Allowance for loan losses | $6,543 | $6,650 | $6,750 |
Loan fees, net of costs | 1,653 | 1,411 | 1,247 |
Depreciation and amortization | 446 | 537 | 636 |
Other real estate owned | 174 | 1,381 | 1,159 |
Deferred Compensation | 1,665 | 1,973 | 2,059 |
Other | 1,629 | 1,531 | 1,597 |
Total Deferred Tax Asset | 12,110 | 13,483 | 13,448 |
Unrealized gain on available-for-sale investment securities | -451 | -955 | -197 |
Intangible amortization | -1,949 | -1,807 | -1,675 |
Other | -934 | -730 | -704 |
Total Deferred Tax Liability | -3,334 | -3,492 | -2,576 |
Net Deferred Tax Asset | $8,776 | $9,991 | $10,872 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule Of Estimated Fair Values (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Duration of purchased receivables | '1 year | ' | ||
Derivative Asset, Fair Value, Gross Asset | $186 | $0 | ||
Investment securities available for sale | 248,688 | 203,918 | ||
Purchased receivables, net | 16,025 | 19,022 | ||
Derivative Liability, Fair Value, Gross Liability | 186 | 0 | ||
Fair Value | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Commitments to extend credit | 1,879 | [1] | 2,083 | [1] |
Standby letters of credit | 65 | [1] | 221 | [1] |
Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Commitments to extend credit | 187,931 | 208,328 | [1] | |
Standby letters of credit | 6,463 | 22,132 | [1] | |
Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | ' | ||
Investment securities available for sale | 20,487 | 0 | ||
Derivative Liability, Fair Value, Gross Liability | ' | ' | ||
Quoted Prices In Active Markets for Identical Assets (Level 1) | Fair Value | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash, due from banks and deposits in other banks | 99,091 | 154,813 | ||
Investment securities | 20,487 | 0 | ||
Quoted Prices In Active Markets for Identical Assets (Level 1) | Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash, due from banks and deposits in other banks | 99,091 | 154,813 | ||
Investment securities | 20,487 | 0 | ||
Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 186 | ' | ||
Investment securities available for sale | 228,201 | 203,918 | ||
Derivative Liability, Fair Value, Gross Liability | 186 | ' | ||
Significant Other Observable Inputs (Level 2) | Fair Value | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Investment securities | 232,458 | 208,863 | ||
Accrued interest receivable | 2,729 | 2,618 | ||
Deposits | 1,003,816 | 969,958 | ||
Securities sold under repurchase agreements | 21,143 | 19,038 | ||
Accrued interest payable | 52 | 47 | ||
Junior subordinated debentures | 15,456 | 18,590 | ||
Borrowings | 6,448 | 4,193 | ||
Significant Other Observable Inputs (Level 2) | Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Investment securities | 232,305 | 208,634 | ||
Accrued interest receivable | 2,729 | 2,618 | ||
Deposits | 1,003,723 | 970,129 | ||
Securities sold under repurchase agreements | 21,143 | 19,038 | ||
Accrued interest payable | 52 | 47 | ||
Junior subordinated debentures | 18,558 | 18,558 | ||
Borrowings | 6,527 | 4,479 | ||
Significant Unobservable Inputs (Level 3) | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | ' | ||
Investment securities available for sale | 0 | 0 | ||
Derivative Liability, Fair Value, Gross Liability | ' | ' | ||
Significant Unobservable Inputs (Level 3) | Fair Value | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans and loans held for sale, net | 769,570 | 696,951 | ||
Purchased receivables, net | 16,025 | 19,022 | ||
Significant Unobservable Inputs (Level 3) | Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans and loans held for sale, net | 765,035 | 699,510 | ||
Purchased receivables, net | $16,025 | $19,022 | ||
[1] | Carrying amounts reflect the notional amount of credit exposure under these financial instruments. |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $248,688 | $203,918 |
Derivative Asset, Fair Value, Gross Asset | 186 | 0 |
Derivative Liability, Fair Value, Gross Liability | 186 | 0 |
Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 20,487 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 228,201 | 203,918 |
Derivative Asset, Fair Value, Gross Asset | 186 | ' |
Derivative Liability, Fair Value, Gross Liability | 186 | ' |
Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Derivative Asset, Fair Value, Gross Asset | 0 | ' |
Derivative Liability, Fair Value, Gross Liability | ' | ' |
U.S Treasury And Government Sponsored Entities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 168,702 | 124,414 |
U.S Treasury And Government Sponsored Entities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 5,538 | 0 |
U.S Treasury And Government Sponsored Entities | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 163,164 | 124,414 |
U.S Treasury And Government Sponsored Entities | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Municipal Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 20,149 | 21,728 |
Municipal Securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 419 | 0 |
Municipal Securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 19,730 | 21,728 |
Municipal Securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
U.S Agency Mortgage-Backed Securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 25 | 36 |
U.S Agency Mortgage-Backed Securities | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
U.S Agency Mortgage-Backed Securities | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 25 | 36 |
U.S Agency Mortgage-Backed Securities | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Corporate Bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 56,778 | 53,982 |
Corporate Bonds | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 11,496 | 0 |
Corporate Bonds | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 45,282 | 53,982 |
Corporate Bonds | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 0 |
Preferred Stock | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 3,034 | 3,758 |
Preferred Stock | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 3,034 | 0 |
Preferred Stock | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 0 | 3,758 |
Preferred Stock | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $0 | $0 |
Fair_Value_Measurements_Schedu2
Fair Value Measurements - Schedule Of Asset Impairment Or Valuation Adjustment Recognized At Fair Value On A Nonrecurring Basis (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount for Lack of Marketability | 25.00% | ' | ||
Nonrecurring assets | $923 | $1,641 | ||
Nonrecurring asset, (gain) loss | -123 | -508 | ||
Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 923 | 1,641 | ||
Loans Measured For Impairment | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 187 | [1] | 105 | [1] |
Nonrecurring asset, (gain) loss | -11 | [1] | -39 | [1] |
Loans Measured For Impairment | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | [1] | 0 | [1] |
Loans Measured For Impairment | Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | [1] | 0 | [1] |
Loans Measured For Impairment | Significant Unobservable Inputs (Level 3) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 187 | [1] | 105 | [1] |
Other Real Estate Owned | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 736 | 1,536 | ||
Nonrecurring asset, (gain) loss | -112 | -469 | ||
Other Real Estate Owned | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | 0 | ||
Other Real Estate Owned | Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | 0 | 0 | ||
Other Real Estate Owned | Significant Unobservable Inputs (Level 3) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Nonrecurring assets | $736 | $1,536 | ||
Minimum | Other Real Estate Owned | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount for Lack of Marketability | 10.00% | ' | ||
Maximum | Other Real Estate Owned | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Inputs, Discount for Lack of Marketability | 25.00% | ' | ||
In-House Valuation of Real Estate, Discounted Cash Flow [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Measurements, Valuation Techniques | 'In-house valuation of real estate; discounted cash flow | ' | ||
Fair Value of Collateral [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value Measurements, Valuation Techniques | 'Fair value of collateral | ' | ||
[1] | Fair value of impaired collateral dependent loans was calculated using contractual cash flows for specific impaired loan. |
Quarterly_Results_Of_Operation2
Quarterly Results Of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest income | $12,018 | $11,524 | $11,440 | $11,092 | $11,349 | $11,204 | $11,123 | $11,052 | $46,074 | $44,728 | $45,908 |
Total interest expense | 497 | 502 | 511 | 530 | 569 | 611 | 627 | 698 | 2,040 | 2,505 | 3,544 |
Net Interest Income | 11,521 | 11,022 | 10,929 | 10,562 | 10,780 | 10,593 | 10,496 | 10,354 | 44,034 | 42,223 | 42,364 |
Provision (benefit) for loan losses | 0 | -785 | 0 | 150 | -300 | -1,437 | 89 | 89 | -635 | -1,559 | 1,999 |
Other operating income | 2,802 | 3,243 | 3,702 | 3,139 | 4,343 | 4,157 | 3,725 | 3,207 | 12,886 | 15,432 | 13,090 |
Other operating expense | 10,702 | 10,076 | 9,391 | 9,697 | 10,555 | 9,992 | 9,295 | 9,758 | 39,866 | 39,600 | 36,755 |
Income Before Provision for Income Taxes | 3,621 | 4,974 | 5,240 | 3,854 | 4,868 | 6,195 | 4,837 | 3,714 | 17,689 | 19,614 | 16,700 |
Provision for income taxes | 1,042 | 1,510 | 1,635 | 1,090 | 1,588 | 1,991 | 1,551 | 1,026 | 5,277 | 6,156 | 4,873 |
Net income | 2,579 | 3,464 | 3,605 | 2,764 | 3,280 | 4,204 | 3,286 | 2,688 | 12,412 | 13,458 | 11,827 |
Less: Net income attributable to the noncontrolling interest | -102 | -10 | 109 | 90 | 118 | 138 | 144 | 112 | 87 | 512 | 429 |
Net Income Attributable to Northrim BanCorp | $2,681 | $3,474 | $3,496 | $2,674 | $3,162 | $4,066 | $3,142 | $2,576 | $12,325 | $12,946 | $11,398 |
Earnings Per Share, Basic | $0.41 | $0.53 | $0.54 | $0.41 | $0.49 | $0.63 | $0.49 | $0.40 | $1.89 | $2 | $1.77 |
Earnings per share, diluted | $0.40 | $0.53 | $0.53 | $0.41 | $0.48 | $0.62 | $0.48 | $0.39 | $1.87 | $1.97 | $1.74 |
Parent_Company_Information_Bal
Parent Company Information - Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $85,591 | $141,313 | $79,530 | $66,033 |
Investment securities available for sale | 248,688 | 203,918 | ' | ' |
Other assets | 40,666 | 34,889 | ' | ' |
Total assets | 1,215,006 | 1,160,107 | ' | ' |
Junior subordinated debentures | 18,558 | 18,558 | ' | ' |
Other liabilities | 20,737 | 11,550 | ' | ' |
Total liabilities | 1,070,688 | 1,023,754 | ' | ' |
Common stock | 6,538 | 6,512 | ' | ' |
Additional paid-in capital | 54,089 | 53,638 | ' | ' |
Retained earnings | 82,855 | 74,742 | ' | ' |
Accumulated other comprehensive income | 669 | 1,368 | ' | ' |
Total Northrim BanCorp shareholders' equity | 144,151 | 136,260 | ' | ' |
Total liabilities and shareholders' equity | 1,215,006 | 1,160,107 | ' | ' |
Northrim Bancorp, Inc. | ' | ' | ' | ' |
Cash and cash equivalents | 10,121 | 8,749 | 7,304 | 5,752 |
Investment securities available for sale | 3,034 | 3,757 | ' | ' |
Due from NISC | 341 | 414 | ' | ' |
Other assets | 2,354 | 913 | ' | ' |
Total assets | 162,709 | 154,818 | ' | ' |
Junior subordinated debentures | 18,558 | 18,558 | ' | ' |
Other liabilities | 0 | 0 | ' | ' |
Total liabilities | 18,558 | 18,558 | ' | ' |
Common stock | 6,538 | 6,512 | ' | ' |
Additional paid-in capital | 54,089 | 53,638 | ' | ' |
Retained earnings | 82,855 | 74,742 | ' | ' |
Accumulated other comprehensive income | 669 | 1,368 | ' | ' |
Total Northrim BanCorp shareholders' equity | 144,151 | 136,260 | ' | ' |
Total liabilities and shareholders' equity | 162,709 | 154,818 | ' | ' |
Northrim Bank | Northrim Bancorp, Inc. | ' | ' | ' | ' |
Investment in subsidiary | 144,799 | 138,936 | ' | ' |
Northrim Investment Services Company | Northrim Bancorp, Inc. | ' | ' | ' | ' |
Investment in subsidiary | 1,502 | 1,491 | ' | ' |
Northrim Capital Trust 1 | Northrim Bancorp, Inc. | ' | ' | ' | ' |
Investment in subsidiary | 248 | 248 | ' | ' |
Northrim Statutory Trust 2 | Northrim Bancorp, Inc. | ' | ' | ' | ' |
Investment in subsidiary | $310 | $310 | ' | ' |
Parent_Company_Information_Sta
Parent Company Information - Statements Of Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | $12,018 | $11,524 | $11,440 | $11,092 | $11,349 | $11,204 | $11,123 | $11,052 | $46,074 | $44,728 | $45,908 |
Other income | 2,802 | 3,243 | 3,702 | 3,139 | 4,343 | 4,157 | 3,725 | 3,207 | 12,886 | 15,432 | 13,090 |
Interest expense | 497 | 502 | 511 | 530 | 569 | 611 | 627 | 698 | 2,040 | 2,505 | 3,544 |
Income Before Provision for Income Taxes | 3,621 | 4,974 | 5,240 | 3,854 | 4,868 | 6,195 | 4,837 | 3,714 | 17,689 | 19,614 | 16,700 |
Provision for income taxes | 1,042 | 1,510 | 1,635 | 1,090 | 1,588 | 1,991 | 1,551 | 1,026 | 5,277 | 6,156 | 4,873 |
Net Income Attributable to Northrim BanCorp | 2,681 | 3,474 | 3,496 | 2,674 | 3,162 | 4,066 | 3,142 | 2,576 | 12,325 | 12,946 | 11,398 |
Northrim Bancorp, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 208 | 198 | 51 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 170 | 209 | 92 |
Total Income | ' | ' | ' | ' | ' | ' | ' | ' | 14,060 | 14,392 | 12,602 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 459 | 493 | 466 |
Administrative and other expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,387 | 1,646 | 1,737 |
Total Expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,846 | 2,139 | 2,203 |
Income Before Provision for Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 11,214 | 12,253 | 10,399 |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,111 | -693 | -999 |
Net Income Attributable to Northrim BanCorp | ' | ' | ' | ' | ' | ' | ' | ' | 12,325 | 12,946 | 11,398 |
Northrim Bank | Northrim Bancorp, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income from subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 13,645 | 13,950 | 12,442 |
Northrim Investment Services Company | Northrim Bancorp, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income from subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | $37 | $35 | $17 |
Parent_Company_Information_Sta1
Parent Company Information - Statements Of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $12,325 | $12,946 | $11,398 |
Stock-based compensation | 506 | 454 | 519 |
Net Cash Provided (Used) by Operating Activities | 18,648 | 32,549 | -5,025 |
Investment in securities available for sale | -140,856 | -111,431 | -169,712 |
Net Cash (Used) Provided by Investing Activities | -107,989 | -28,276 | 216 |
Dividends paid to shareholders | -4,215 | -3,676 | -3,264 |
Net Cash Provided by Financing Activities | 33,619 | 57,510 | 18,306 |
Net Increase (Decrease) in Cash and Cash Equivalents | -55,722 | 61,783 | 13,497 |
Cash and Cash Equivalents at Beginning of Year | 141,313 | 79,530 | 66,033 |
Cash and Cash Equivalents at End of Year | 85,591 | 141,313 | 79,530 |
Northrim Bancorp, Inc. | ' | ' | ' |
Net income | 12,325 | 12,946 | 11,398 |
Equity in undistributed earnings from subsidiaries | -13,683 | -13,985 | -12,461 |
Stock-based compensation | 506 | 454 | 519 |
Changes in other assets and liabilities | 60 | -79 | 852 |
Net Cash Provided (Used) by Operating Activities | -912 | -506 | -1,396 |
Investment in securities available for sale | 525 | -2,527 | -999 |
Investment in Northrim Bank, NISC, NCT1 & NST2 | 5,874 | 7,921 | 7,040 |
Net Cash (Used) Provided by Investing Activities | 6,399 | 5,394 | 6,041 |
Dividends paid to shareholders | -4,215 | -3,676 | -3,264 |
Proceeds from issuance of common stock and excess tax benefits | 100 | 233 | 171 |
Net Cash Provided by Financing Activities | -4,115 | -3,443 | -3,093 |
Net Increase (Decrease) in Cash and Cash Equivalents | 1,372 | 1,445 | 1,552 |
Cash and Cash Equivalents at Beginning of Year | 8,749 | 7,304 | 5,752 |
Cash and Cash Equivalents at End of Year | $10,121 | $8,749 | $7,304 |