Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 07, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | SELECT BANCORP, INC. | |
Entity Central Index Key | 1,263,762 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | SLCT | |
Entity Common Stock, Shares Outstanding | 11,499,398 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,015 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | [1] |
ASSETS | |||
Cash and due from banks | $ 13,210 | $ 14,417 | |
Interest-earning deposits in other banks | 14,326 | 22,810 | |
Certificates of deposit | 1,000 | 1,000 | |
Federal funds sold and repurchase agreements | 0 | 20,183 | |
Investment securities available for sale, at fair value | 86,938 | 102,235 | |
Loans | 573,729 | 552,038 | |
Allowance for loan losses | (6,842) | (6,844) | |
NET LOANS | 566,887 | 545,194 | |
Accrued interest receivable | 2,268 | 2,416 | |
Stock in Federal Home Loan Bank of Atlanta ("FHLB"), at cost | 2,049 | 1,524 | |
Other non-marketable securities | 845 | 896 | |
Foreclosed real estate | 1,030 | 1,585 | |
Premises and equipment, net | 18,401 | 17,599 | |
Bank owned life insurance | 21,277 | 20,966 | |
Goodwill | 6,931 | 6,931 | |
Core deposit intangible | 1,320 | 1,625 | |
Other assets | 5,961 | 6,740 | |
TOTAL ASSETS | 742,443 | 766,121 | |
Deposits: | |||
Demand | 133,545 | 129,831 | |
Savings | 38,221 | 37,000 | |
Money market and NOW | 162,040 | 166,511 | |
Time | 245,803 | 285,560 | |
TOTAL DEPOSITS | 579,609 | 618,902 | |
Short-term debt | 32,884 | 20,733 | |
Long-term debt | 24,914 | 25,591 | |
Accrued interest payable | 197 | 276 | |
Accrued expenses and other liabilities | 3,287 | 2,934 | |
TOTAL LIABILITIES | 640,891 | 668,436 | |
Shareholders’ Equity: | |||
Preferred stock, no par value, 5,000,000 shares authorized; 7,645 shares issued and outstanding at June 30, 2015 and December 31, 2014 | 7,645 | 7,645 | |
Common stock, $1.00 par value, 25,000,000 shares authorized; 11,499,398 and 11,377,980 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively | 11,499 | 11,378 | |
Additional paid-in capital | 68,814 | 68,406 | |
Retained earnings | 12,973 | 9,447 | |
Common stock issued to deferred compensation trust, at cost; 252,148 and 259,551 shares at June 30, 2015 and December 31, 2014, respectively | (2,060) | (2,121) | |
Directors’ Deferred Compensation Plan Rabbi Trust | 2,060 | 2,121 | |
Accumulated other comprehensive income | 621 | 809 | |
TOTAL SHAREHOLDERS’ EQUITY | 101,552 | 97,685 | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 742,443 | $ 766,121 | |
[1] | Derived from audited consolidated financial statements. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2015 | Dec. 31, 2014 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | 7,645 | 7,645 |
Preferred Stock, Shares Outstanding | 7,645 | 7,645 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 11,499,398 | 11,377,980 |
Common stock, shares outstanding | 11,499,398 | 11,377,980 |
Deferred Compensation, Share-based Payments [Member] | ||
Common stock, shares issued | 252,148 | 259,551 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST INCOME | ||||
Loans | $ 7,789 | $ 4,816 | $ 15,538 | $ 9,689 |
Federal funds sold and interest-earning deposits in other banks | 6 | 31 | 31 | 58 |
Investments | 467 | 414 | 935 | 827 |
TOTAL INTEREST INCOME | 8,262 | 5,261 | 16,504 | 10,574 |
INTEREST EXPENSE | ||||
Money market, NOW and savings deposits | 96 | 59 | 195 | 117 |
Time deposits | 614 | 959 | 1,335 | 1,934 |
Short term debt | 25 | 7 | 46 | 13 |
Long term debt | 100 | 73 | 198 | 144 |
TOTAL INTEREST EXPENSE | 835 | 1,098 | 1,774 | 2,208 |
NET INTEREST INCOME | 7,427 | 4,163 | 14,730 | 8,366 |
PROVISION FOR (RECOVERY OF) LOAN LOSSES | (139) | (427) | (9) | (476) |
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) LOAN LOSSES | 7,566 | 4,590 | 14,739 | 8,842 |
NON-INTEREST INCOME | ||||
Gain on sale of investment securities | 134 | 0 | 219 | 0 |
Service charges on deposit accounts | 263 | 226 | 522 | 453 |
Other fees and income | 544 | 339 | 1,063 | 737 |
TOTAL NON-INTEREST INCOME | 941 | 565 | 1,804 | 1,190 |
NON-INTEREST EXPENSE | ||||
Personnel | 3,011 | 2,101 | 6,072 | 4,256 |
Occupancy and equipment | 565 | 396 | 1,112 | 780 |
Deposit insurance | 106 | 103 | 267 | 206 |
Professional fees | 387 | 310 | 742 | 593 |
Core deposit intangible amortization | 150 | 29 | 305 | 58 |
Merger/acquisition related expenses | 35 | 237 | 35 | 398 |
Information systems | 521 | 320 | 884 | 668 |
Foreclosed real estate related expense | 35 | 40 | 59 | 311 |
Other | 743 | 618 | 1,447 | 1,336 |
TOTAL NON-INTEREST EXPENSE | 5,553 | 4,154 | 10,923 | 8,606 |
INCOME BEFORE INCOME TAX | 2,954 | 1,001 | 5,620 | 1,426 |
INCOME TAXES | 1,133 | 388 | 2,056 | 541 |
NET INCOME | 1,821 | 613 | 3,564 | 885 |
DIVIDENDS AND ACCRETION OF PREFERRED STOCK | 19 | 0 | 38 | 0 |
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | $ 1,802 | $ 613 | $ 3,526 | $ 885 |
NET INCOME PER COMMON SHARE | ||||
Basic (in dollars per share) | $ 0.16 | $ 0.09 | $ 0.31 | $ 0.13 |
Diluted (in dollars per share) | $ 0.16 | $ 0.09 | $ 0.31 | $ 0.13 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||||
Basic (in shares) | 11,481,137 | 6,923,640 | 11,453,908 | 6,922,651 |
Diluted (in shares) | 11,548,878 | 6,928,428 | 11,529,605 | 6,926,318 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income | $ 1,821 | $ 613 | $ 3,564 | $ 885 |
Other comprehensive income (loss): | ||||
Unrealized gain (loss) on investment securities available for sale | (680) | 547 | (72) | 929 |
Tax effect | 259 | (204) | 25 | (346) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | (421) | 343 | (47) | 583 |
Reclassification adjustment for gain (loss) included in net income | (134) | 0 | (219) | 0 |
Tax effect | 45 | 0 | 78 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | (89) | 0 | (141) | 0 |
Total | (510) | 343 | (188) | 583 |
Total comprehensive income | $ 1,311 | $ 956 | $ 3,376 | $ 1,468 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Common Stock Issued to Deferred Compensation Trust [Member] | Directors' Deferred Compensation Plan [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 31, 2013 | $ 56,004 | $ 0 | $ 6,922 | $ 42,062 | $ 7,128 | $ (1,976) | $ 1,976 | $ (108) |
Balance (in shares) at Dec. 31, 2013 | 0 | 6,921,352 | ||||||
Net income | 885 | $ 0 | $ 0 | 0 | 885 | 0 | 0 | 0 |
Other comprehensive income, net | 583 | 0 | 0 | 0 | 0 | 0 | 0 | 583 |
Stock option exercises | 68 | $ 0 | $ 9 | 59 | 0 | 0 | 0 | 0 |
Stock option exercises (in shares) | 0 | 9,816 | ||||||
Stock based compensation | 11 | $ 0 | $ 0 | 11 | 0 | 0 | 0 | 0 |
Director equity incentive plan, net | 0 | 0 | 0 | 0 | 0 | (90) | 90 | 0 |
Balance at Jun. 30, 2014 | 57,551 | $ 0 | $ 6,931 | 42,132 | 8,013 | (2,066) | 2,066 | 475 |
Balance (in shares) at Jun. 30, 2014 | 0 | 6,931,168 | ||||||
Balance at Dec. 31, 2014 | 97,685 | $ 7,645 | $ 11,378 | 68,406 | 9,447 | (2,121) | 2,121 | 809 |
Balance (in shares) at Dec. 31, 2014 | 7,645 | 11,377,980 | ||||||
Net income | 3,564 | $ 0 | $ 0 | 0 | 3,564 | 0 | 0 | 0 |
Other comprehensive income, net | (188) | 0 | 0 | 0 | 0 | 0 | 0 | (188) |
Preferred stock dividends paid | (38) | 0 | 0 | 0 | (38) | 0 | 0 | 0 |
Stock option exercises | 512 | $ 0 | $ 121 | 391 | 0 | 0 | 0 | 0 |
Stock option exercises (in shares) | 0 | 121,418 | ||||||
Stock based compensation | 17 | $ 0 | $ 0 | 17 | 0 | 0 | 0 | 0 |
Director equity incentive plan, net | 0 | 0 | 0 | 0 | 0 | 61 | (61) | 0 |
Balance at Jun. 30, 2015 | $ 101,552 | $ 7,645 | $ 11,499 | $ 68,814 | $ 12,973 | $ (2,060) | $ 2,060 | $ 621 |
Balance (in shares) at Jun. 30, 2015 | 7,645 | 11,499,398 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 3,564 | $ 885 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Recovery of loan losses | (9) | (476) |
Depreciation and amortization of premises and equipment | 541 | 281 |
Amortization and accretion of investment securities | 491 | 449 |
Amortization of deferred loan fees and costs | (134) | (152) |
Amortization of core deposit intangible | 305 | 58 |
Stock-based compensation | 17 | 11 |
Accretion on acquired loans | (848) | 0 |
Amortization of acquisition premium on time deposits | (451) | 0 |
Net accretion of acquisition discount on borrowings | (244) | 0 |
Increase in cash surrender value of bank owned life insurance | (311) | (115) |
Net loss on sale and write-downs of foreclosed real estate | 55 | 273 |
Net (gain) loss on investment security sales and pay-downs | (219) | 0 |
Change in assets and liabilities: | ||
Net change in accrued interest receivable | 148 | 184 |
Net change in other assets | 882 | 453 |
Net change in accrued expenses and other liabilities | 274 | (61) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 4,061 | 1,790 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase (redemption) of FHLB stock | (525) | 234 |
Redemption of non-marketable security | 51 | 14 |
Purchase of investment securities available for sale | (7,057) | (7,445) |
Maturities of investment securities available for sale | 11,429 | 7,102 |
Mortgage-backed securities pay-downs | 4,722 | 4,206 |
Proceeds from sale of investment securities available for sale | 5,640 | 550 |
Net change in loans outstanding | (20,702) | 11,993 |
Proceeds from sale of foreclosed real estate | 500 | 1,226 |
Purchases of premises and equipment | (1,343) | (311) |
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | (7,285) | 17,569 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | (38,842) | (19,724) |
Proceeds from short-term debt | 19,976 | 874 |
Repayments on short-term debt | (7,779) | 0 |
Repayments on long-term debt | (479) | 0 |
Preferred stock dividends paid | (38) | 0 |
Proceeds from stock option exercises | 512 | 68 |
NET CASH USED IN FINANCING ACTIVITIES | (26,650) | (18,782) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (29,874) | 577 |
CASH AND CASH EQUIVALENTS, BEGINNING | 58,410 | 72,869 |
CASH AND CASH EQUIVALENTS, ENDING | 28,536 | 73,446 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest | 1,853 | 2,226 |
Taxes | 1,058 | 10 |
Non-cash transactions: | ||
Unrealized gains (losses) on investment securities available for sale, net of tax | (188) | 451 |
Transfers from loans to foreclosed real estate | $ 0 | $ 660 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE A - BASIS OF PRESENTATION Select Bancorp, Inc. (the “Company”), formerly known as New Century Bancorp, Inc. (“New Century”), is a bank holding company whose principal business activity consists of ownership of Select Bank & Trust Company (the “Bank”), formerly known as New Century Bank. The Bank is engaged in general commercial and retail banking and operates under the banking laws of North Carolina and the rules and regulations of the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. The Bank undergoes periodic examinations by those regulatory authorities. On September 30, 2013, the Company signed a merger agreement with Select Bancorp, Inc. (“Legacy Select”), a bank holding company headquartered in Greenville, North Carolina, whose wholly-owned subsidiary, Select Bank & Trust Company (“Legacy Select Bank”), was a state-chartered commercial bank with approximately $ 276.9 As a result of the merger, New Century acquired Legacy Select and Legacy Select Bank and changed its name to Select Bancorp, Inc. New Century Bank changed its name to Select Bank & Trust Company. Under the terms of the merger agreement, former shareholders of Legacy Select common stock received 1.8264 4,416,500 In addition, each share of Legacy Select’s issued and outstanding preferred stock was exchanged for one newly issued share of the Company’s preferred stock having terms substantially identical to the Legacy Select preferred stock. All of the issued and outstanding shares of Company’s preferred stock are held by the Secretary of the United States Treasury and were issued in connection with Legacy Select’s participation in the Small Business Lending Fund. All significant inter-company transactions and balances have been eliminated in consolidation. In management’s opinion, the financial information, which is unaudited, reflects all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of the financial information as of and for the three and six month periods ended June 30, 2015 and 2014, in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of consolidated financial statements requires management to make estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, as well as the amounts of income and expense during the reporting period. Actual results could differ from those estimates. Operating results for the three and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2015. The organization and business of the Company, accounting policies followed by the Company and other relevant information are contained in the notes to the financial statements filed as part of the Company’s 2014 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2015. This quarterly report should be read in conjunction with the Annual Report. Certain reclassifications of the information in prior periods were made to conform to the June 30, 2015 presentation. Such reclassifications had no effect on shareholders’ equity or net income. |
PER SHARE RESULTS
PER SHARE RESULTS | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE B - PER SHARE RESULTS 111,080 91,183 Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Weighted average shares used for basic net income available to common shareholders 11,481,137 6,923,640 11,453,908 6,922,651 Effect of dilutive stock options 67,741 4,788 75,697 3,667 Weighted average shares used for diluted net income available to common shareholders 11,548,878 6,928,428 11,529,605 6,926,318 |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE C - RECENT ACCOUNTING PRONOUNCEMENTS The following summarizes recent accounting pronouncements and their expected impact on the Company: In January 2014, the Financial Accounting Standards Board (FASB) amended the Receivables topic of the Accounting Standards Codification. The amendments are intended to resolve diversity in practice with respect to when a creditor should reclassify a collateralized consumer mortgage loan to other real estate owned (OREO). In addition, the amendments require a creditor to reclassify a collateralized consumer mortgage loan to OREO upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The amendments will be effective for the Company for annual periods, and interim periods within those annual periods beginning after December 15, 2014, with early implementation of the guidance permitted. In implementing this guidance, assets that are reclassified from real estate to loans are measured at the carrying value of the real estate at the date of adoption. Assets reclassified from loans to real estate are measured at the lower of the net amount of the loan receivable or the fair value of the real estate less costs to sell at the date of adoption. The Company will apply the amendments prospectively. This update became effective during the first quarter. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructuring by Creditors (Subtopic 310-40) The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note F. In August 2014, the FASB issued ASU 2014-11 Transfers and Servicing (Topic 860) The accounting changes in this ASU were effective for fiscal years beginning after December 15, 2014. In addition, the disclosure for certain transactions accounted for as a sale was effective for the fiscal period beginning after December 15, 2014, the disclosures for transactions accounted for as secured borrowings were required to be presented for fiscal periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. We adopted the guidance effective first quarter of 2015. The initial adoption did not have any effect on our consolidated financial position or consolidated results of operations. The new disclosures required by this ASU are included in Note I. In January 2015, the FASB issued ASU 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis Other accounting standards that have been issued or proposed by FASB or other standards-setting bodies are not expected to have a material impact on the Company’s consolidated financial position, results of operations and cash flows. From time to time, the FASB issues exposure drafts for proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 6 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note D Business Combinations On September 30, 2013, the Company executed a merger agreement with Legacy Select, a bank holding company headquartered in Greenville, North Carolina, whose wholly-owned subsidiary, Legacy Select Bank, was a state-chartered commercial bank with approximately $ 276.9 As a result of the merger, New Century acquired Legacy Select and Legacy Select Bank and changed its name to Select Bancorp, Inc. New Century Bank changed its name to Select Bank & Trust Company. Under the acquisition method, the assets and liabilities of Legacy Select, as of the effective date of the acquisition, are recorded at their respective fair values. For the acquisition of Legacy Select, estimated fair values of assets acquired and liabilities assumed are based on the information that is available, and the Company believes this information provides a reasonable basis for determining fair values. Management has substantially completed its valuation of Legacy Select’s assets and liabilities, but may refine those valuations for up to one year following closing of the transaction. Any changes resulting from the evaluation of these or other estimates as of the acquisition date may change the amount of the preliminary fair values recorded. Under the terms of the merger agreement, shareholders of Legacy Select common stock received 1.8264 31.1 2,418,347 6.76 12.35 Each share of Legacy Select’s issued and outstanding preferred stock was exchanged for one newly issued share of the Company’s preferred stock having terms substantially identical to Legacy Select’s preferred stock. All of the issued and outstanding shares of the Company’s preferred stock are held by the Secretary of the United States Treasury and were issued in connection with Legacy Select’s participation in the Small Business Lending Fund. On July 25, 2014, 202,842 370,278 218,462 3.01 628,000 149,529 PCI loans acquired totaled $ 28.6 189.0 1.6 6.9 deferred tax during the quarter |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE E - FAIR VALUE MEASUREMENTS Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements, but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative reliability of the inputs used in the valuation. Fair value estimates are made at a specific moment 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 active market readily exists for a portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Fair Value Hierarchy The Company groups assets and liabilities 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 markets. · Level 2 Valuation is based upon quoted 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 at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates 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 is a description of valuation methodologies used for assets and liabilities recorded at fair value on a recurring basis. Investment Securities Available-for-Sale (“AFS”) Investment securities available-for-sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include U.S. government agency securities, mortgage-backed securities issued by government sponsored entities, and municipal bonds. There have been no changes in valuation techniques for the three and six months ended June 30, 2015. Valuation techniques are consistent with techniques used in prior periods. Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable June 30, 2015 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies GSE's $ 23,546 $ - $ 23,546 $ - Mortgage-backed securities - GSE’s 43,649 - 43,649 - Municipal bonds 19,743 - 19,743 - Total $ 86,938 $ - $ 86,938 $ - Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2014 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies GSE's $ 27,921 $ - $ 27,921 $ - Mortgage-backed securities - GSE’s 53,304 - 53,304 - Municipal bonds 21,010 - 21,010 - Total $ 102,235 $ - $ 102,235 $ - The following is a description of valuation methodologies used for assets recorded at fair value on a non-recurring basis. Loans The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with ASC 310, “Receivables”. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, or liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At June 30, 2015 and December 31, 2014, substantially all of the total impaired loans were evaluated based on the fair value of the collateral. Impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the impaired loan as non-recurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the impaired loan as non-recurring Level 3. The significant unobservable input used in the fair value measurement of the Company’s impaired loans is the discount applied to appraised values to account for expected liquidation and selling costs. At June 30, 2015, the discounts used are weighted between 5 47 Foreclosed Real Estate Foreclosed real estate are properties recorded at the balance of the loan or an estimated fair value less estimated selling costs, whichever is less. Inputs include appraised values on the properties or recent sales activity for similar assets in the property’s market. Therefore, foreclosed real estate is classified within Level 3 of the hierarchy. The significant unobservable input used in the fair value measurement of the Company’s impaired loans is the discount applied to appraised values to account for expected liquidation and selling costs. At June 30, 2015, the discounts used ranged between 5 90 Quoted Prices in Significant Active Markets Other Significant Asset Category for Identical Observable Unobservable June 30, 2015 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 5,416 $ - $ - $ 5,416 Foreclosed real estate 1,030 - - 1,030 Total $ 6,446 $ - $ - $ 6,446 Quoted Prices in Significant Active Markets Other Significant Asset Category for Identical Observable Unobservable December 31, 2014 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,896 $ - $ - $ 6,896 Foreclosed real estate 1,585 - - 1,585 Total $ 8,481 $ - $ - $ 8,481 June 30, 2015 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and due from banks $ 13,210 $ 13,210 $ 13,210 $ - $ - Certificates of deposit 1,000 1,000 1,000 - - Interest-earning deposits in other banks 14,326 14,326 14,326 - - Investment securities available for sale 86,938 86,938 - 86,938 - Loans, net 566,887 576,016 - - 576,016 Accrued interest receivable 2,268 2,268 - - 2,268 Stock in FHLB 2,049 2,049 - - 2,049 Other non-marketable securities 845 845 - - 845 Financial liabilities: Deposits $ 579,609 $ 581,304 $ - $ 581,304 $ - Short term debt 32,884 32,884 - 32,884 - Long term debt 24,914 17,701 - 17,701 - Accrued interest payable 197 197 - 197 - December 31, 2014 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and due from banks $ 14,417 $ 14,417 $ 14,417 $ - $ - Certificates of deposit 1,000 1,000 1,000 - - Interest-earning deposits in other banks 22,810 22,810 22,810 - - Federal funds sold and repurchase agreeements 20,183 20,183 20,183 - - Investment securities available for sale 102,235 102,235 - 102,235 - Loans, net 545,194 555,736 - - 555,736 Accrued interest receivable 2,416 2,416 - - 2,416 Stock in the FHLB 1,524 1,524 - - 1,524 Other non-marketable securities 896 896 - - 896 Financial liabilities: Deposits $ 618,902 $ 621,049 $ - $ 621,049 $ - Short-term debt 20,733 20,593 - 20,593 - Long-term debt 25,591 20,771 - 20,771 - Accrued interest payable 276 276 - 276 - Cash and Due from Banks, Certificates of Deposit, Interest-Earning Deposits in Other Banks and Federal Funds Sold The carrying amounts for cash and due from banks, certificates of deposit, interest-earning deposits in other banks and federal funds sold approximate fair value because of the short maturities of those instruments. Investment Securities Available for Sale Fair value for investment securities available for sale equals quoted market price if such information is available. If a quoted market price is not available, fair value is estimated using prices quoted for similar investments or quoted market prices obtained from independent pricing services. Loans For certain homogenous categories of loans, such as residential mortgages, fair value is estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value of other types of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. However, the values likely do not represent exit prices due to distressed market conditions. Stock in Federal Home Loan Bank of Atlanta The fair value for FHLB stock approximates carrying value, based on the redemption provisions of the FHLB stock. Other Non-Marketable Securities The fair value of equity instruments in other non-marketable securities is assumed to approximate carrying value. Deposits The fair value of demand, savings, and money market and NOW deposits is the amount payable on demand at the reporting date. The fair values of time deposits are estimated using the rates currently offered for instruments of similar remaining maturities. Short-term Debt Short-term debt consists of repurchase agreements and FHLB advances with maturities of less than twelve months. The carrying values of these instruments is a reasonable estimate of fair value. Long-term Debt The fair values of long-term debt are based on discounted expected cash flows at the interest rate for debt with the same or similar remaining maturities and collateral requirements. Accrued Interest Receivable and Accrued Interest Payable The carrying amounts of accrued interest receivable and payable approximate fair value because of the short maturities of these instruments. Financial Instruments with Off-Balance Sheet Risk With regard to financial instruments with off-balance sheet risk, it is not practicable to estimate the fair value of future financing commitments. |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE F - INVESTMENT SECURITIES June 30, 2015 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (In thousands) Securities available for sale: U.S. government agencies-GSE’s Within 1 year $ 34 $ 1 $ - $ 35 After 1 year but within 5 years 9,655 37 (16) 9,676 After 5 years but within 10 years 11,559 51 (202) 11,408 After 10 years 2,448 - (21) 2,427 Mortgage-backed securities-GSE’s Within 1 year 9 - - 9 After 1 year but within 5 years 31,100 677 (42) 31,735 After 5 years but within 10 years 11,640 129 (10) 11,759 After 10 years 130 16 - 146 Municipal bonds Within 1 year 581 8 - 589 After 1 year but within 5 years 3,619 118 - 3,737 After 5 years but within 10 years 6,116 94 (2) 6,208 After 10 years 9,057 153 (1) 9,209 $ 85,948 $ 1,284 $ (294) $ 86,938 As of June 30, 2015, accumulated other comprehensive income included net unrealized gains totaling $ 1.0 369,000 December 31, 2014 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (In thousands) Securities available for sale: U.S. government agencies-GSE’s Within 1 year $ 6,352 $ 8 $ - $ 6,360 After 1 year but within 5 years 6,018 21 (24) 6,015 After 5 years but within 10 years 10,032 32 (227) 9,837 After 10 years 5,778 - (69) 5,709 Mortgage-backed securities-GSE’s Within 1 year 21 1 - 22 After 1 year but within 5 years 35,114 974 (39) 36,049 After 5 years but within 10 years 17,143 140 (50) 17,233 Municipal bonds Within 1 year 576 3 - 579 After 1 year but within 5 years 3,806 144 - 3,950 After 5 years but within 10 years 6,351 116 (2) 6,465 After 10 years 9,763 253 - 10,016 $ 100,954 $ 1,692 $ (411) $ 102,235 As of December 31, 2014, accumulated other comprehensive income included net unrealized gains totaling $ 1.3 481,000 Securities with a carrying value of $ 36.1 85.1 Since none of the unrealized losses relate to the liquidity of the securities or the issuer’s ability to honor redemption obligations and the Company has the intent and ability to hold these securities to recovery, no other than temporary impairments were identified for these investments having unrealized losses for the periods ended June 30, 2015 and December 31, 2014. In 2014 the Company incurred a loss on the disposal of one security and did not realize any losses related to securities in 2015. June 30, 2015 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (In thousands) Securities available for sale: U.S. government agencies- GSE’s $ 3,345 $ (63) $ 9,353 $ (176) $ 12,698 $ (239) Mortgage-backed securities- GSE’s 6,239 (52) - - 6,239 (52) Municipal bonds 682 (3) - - 682 (3) Total temporarily impaired securities $ 10,266 $ (118) $ 9,353 $ (176) $ 19,619 $ (294) At June 30, 2015, the Company had six AFS securities with an unrealized loss for twelve or more consecutive months. Six U.S. government agency GSE’s had unrealized losses for more than twelve months totaling $176,000 at June 30, 2015. Two U.S. government agency GSE, five mortgage-backed GSE’s, and two municipal bonds had unrealized losses for less than twelve months totaling $118,000 at June 30, 2015. 2.2 December 31, 2014 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies GSE’s $ 2,926 $ (24) $ 12,731 $ (296) $ 15,657 $ (320) Mortgage-backed securities- GSE’s 1,965 (28) 4,590 (61) 6,555 (89) Municipal bonds - - 112 (2) 112 (2) Total temporarily impaired securities $ 4,891 $ (52) $ 17,433 $ (359) $ 22,324 $ (411) At December 31, 2014, the Company had thirteen AFS securities with an unrealized loss for twelve or more consecutive months. Eight U.S. government agency GSE’s, one municipal and four mortgage-backed GSE’s had unrealized losses for more than twelve months totaling $359,000 at December 31, 2014. Two U.S. government agency GSE’s and one mortgage-backed GSE bonds had unrealized losses for less than twelve months totaling $52,000 at December 31, 2014. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE G - LOANS June 30, December 31, Total Loans: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 85,926 14.98 % $ 90,903 16.47 % Commercial real estate 236,471 41.22 % 233,630 42.32 % Multi-family residential 41,852 7.29 % 42,224 7.65 % Construction 96,033 16.74 % 83,593 15.14 % Home equity lines of credit (“HELOC”) 37,722 6.57 % 38,093 6.90 % Total real estate loans 498,004 86.80 % 488,443 88.48 % Other loans: Commercial and industrial 70,404 12.27 % 58,217 10.55 % Loans to individuals 5,947 1.04 % 5,953 1.08 % Overdrafts 95 0.02 % 64 0.01 % Total other loans 76,446 13.33 % 64,234 11.64 % Gross loans 574,450 552,677 Less deferred loan origination fees, net (721) (0.13) % (639) (0.12) % Total loans 573,729 100.00 % 552,038 100.00 % Allowance for loan losses (6,842) (6,844) Total loans, net $ 566,887 $ 545,194 June 30, December 31, Purchased Credit Impaired (PCI) Loans: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 8,916 38.02 % $ 9,972 36.89 % Commercial real estate 11,392 48.57 % 11,903 44.03 % Multi-family residential 863 3.68 % 2,724 10.08 % Construction 1,443 6.15 % 1,463 5.41 % Home equity lines of credit (“HELOC”) 190 0.81 % 188 0.69 % Total real estate loans 22,804 97.23 % 26,250 97.10 % Other loans: Commercial and industrial 528 2.25 % 657 2.43 % Loans to individuals 122 0.52 % 128 0.47 % Overdrafts - 0.00 % - 0.00 % Total other loans 650 2.77 % 785 2.90 % Gross loans 23,454 27,035 Less deferred loan origination fees, net - - % - - % Total loans 23,454 100.00 % 27,035 100.00 % Allowance for loan losses 68 - Total loans, net $ 23,386 $ 27,035 (Dollars in thousands) June 30, 2015 July 25, 2014 Contractually required payments $ 28,234 $ 34,329 Nonaccretable difference 1,460 1,402 Cash flows expected to be collected 26,774 32,927 Accretable yield 3,320 4,360 Fair value $ 23,454 $ 28,567 June 30, December 31, Loans excluding PCI: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 77,010 13.99 % $ 80,931 15.42 % Commercial real estate 225,079 40.90 % 221,727 42.23 % Multi-family residential 40,989 7.45 % 39,500 7.52 % Construction 94,590 17.19 % 82,130 15.64 % Home equity lines of credit (“HELOC”) 37,532 6.82 % 37,905 7.22 % Total real estate loans 475,200 86.35 % 462,193 88.03 % Other loans: Commercial and industrial 69,876 12.70 % 57,560 10.97 % Loans to individuals 5,825 1.06 % 5,825 1.11 % Overdrafts 95 0.02 % 64 0.01 % Total other loans 75,796 13.78 % 63,449 12.09 % Gross loans 550,996 525,642 Less deferred loan origination fees, net (721) (0.13) % (639) (0.12) % Total loans 550,275 100.00 % 525,003 100.00 % Allowance for loan losses (6,774) (6,844) Total loans, net $ 543,501 $ 518,159 Loans are primarily secured by real estate located in eastern and central North Carolina. Real estate loans can be affected by the condition of the local real estate market and by local economic conditions. At June 30, 2015, the Company had pre-approved but unused lines of credit for customers totaling $ 123.5 A floating lien of $ 74.8 A description of the various loan products provided by the Bank is presented below. 1-to-4 Family Residential Loans Residential 1-to-4 family loans are mortgage loans secured by residential real estate within the Bank’s market areas. These loans may also include loans that convert from construction loans into permanent financing and are secured by properties within the Bank’s market areas. Commercial Real Estate Loans Commercial real estate loans are underwritten based on the borrower’s ability to generate adequate cash flow to repay the subject debt within reasonable terms. Commercial real estate loans typically include both owner and non-owner occupied properties with higher principal loan amounts. The repayment of these loans is generally dependent on the successful management of the property. Commercial real estate loans are sensitive to market and general economic conditions. Repayment analysis must be performed and consists of an identified primary/cash flow source of repayment and a secondary/liquidation source of repayment. The primary source of repayment is cash flow from income generated from rental or lease of the property. However, the cash flow can be supplemented with the borrower's and guarantor's global cash flow position. Other credit issues such as the business fundamentals and financial strength of the borrower/guarantor can be considered in determining adequacy of repayment ability. The secondary source of repayment is liquidation of the collateral, supplemented by a liquidation cushion provided by the financial assets of the borrower/guarantor. Management monitors and evaluates commercial real estate loans based on collateral, market area, and risk grade. Multi-family Residential Loans Multi-family residential loans are typically non-farm properties with 5 or more dwelling units in structures which include apartment buildings used primarily to accommodate households on a more or less permanent basis. Successful performance of these types of loans is primarily dependent on occupancy rates, rental rates, and property management. Construction Loans Construction loans are non-revolving extensions of credit secured by real property of which the proceeds are used to acquire and develop land and to construct commercial or residential buildings. The primary source of repayment for these types of loans is the sale of the improved property or permanent financing in which case the property is expected to generate the cash flow necessary for repayment on a permanent loan basis. Property cash flow may be supplemented with financial support from the borrowers/guarantors. Proper underwriting of a construction loan consists of the initial process of obtaining, analyzing, and approving various aspects of information pertaining to: the feasibility, marketability, and valuation of the project. Also, much consideration needs to be given to the cost of the project and sources of funds needed to complete construction as well as identifying any sources of equity funding. Construction loans are traditionally considered to be higher risk loans involving technical and legal requirements inherently different from other types of loans; however with thorough credit underwriting, proper loan structure, and diligent loan servicing, these risks can often be mitigated. Home Equity Lines of Credit Home equity lines of credit are consumer-purpose revolving extensions of credit which are secured by first or second liens on owner-occupied residential real estate. Appropriate risk management and compliance practices are exercised to ensure that loan-to-value, lien perfection, and compliance risks are addressed and managed within the Bank’s established guidelines. The degree of utilization of revolving commitments within this loan segment is reviewed periodically to identify changes in the behavior of this borrowing group. Commercial and Industrial Loans Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to generate positive cash flow, operate profitably and prudently expand its business. Underwriting standards are designed to promote relationships to include a full range of loan, deposit, and cash management services. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower and the guarantors. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. In the case of loans secured by accounts receivable, the availability of funds for repayment can be impacted by the borrower’s ability to collect amounts due from its customers. Loans to Individuals & Overdrafts Consumer loans are approved using Bank policies and procedures established to evaluate each credit request. All lending decisions and credit risks are required to be clearly documented. Several factors are considered in making these decisions such as credit score, adjusted net worth, liquidity, debt ratio, disposable income, credit history, and loan-to-value of the collateral. This process, combined with the relatively smaller loan amounts spreads the risk among many individual borrowers. The following tables present an age analysis of past due loans, segregated by class of loans as of June 30, 2015 and December 31, 2014, respectively: Total Loans: June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ 130 $ 405 $ 535 $ 69,869 $ 70,404 Construction - 199 199 95,834 96,033 Multi-family residential 437 - 437 41,415 41,852 Commercial real estate 835 770 1,605 234,866 236,471 Loans to individuals & overdrafts 1 - 1 6,041 6,042 1-to-4 family residential 380 6,218 6,598 79,328 85,926 HELOC 35 402 437 37,285 37,722 Deferred loan (fees) cost, net - - - - (721 ) $ 1,818 $ 7,994 $ 9,812 $ 564,638 $ 573,729 Total PCI Loans: June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ - $ - $ - $ 528 $ 528 Construction - - - 1,443 1,443 Multi-family residential 437 - 437 426 863 Commercial real estate 553 - 553 10,839 11,392 Loans to individuals & overdrafts - - - 122 122 1-to-4 family residential - 280 280 8,636 8,916 HELOC - - - 190 190 $ 990 $ 280 $ 1,270 $ 22,184 $ 23,454 Total Loans (excluding PCI): June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ 130 $ 405 $ 535 $ 69,341 $ 69,876 Construction - 199 199 94,391 94,590 Multi-family residential - - - 40,989 40,989 Commercial real estate 282 770 1,052 224,027 225,079 Loans to individuals & overdrafts 1 - 1 5,919 5,920 1-to-4 family residential 380 5,938 6,318 70,692 77,010 HELOC 35 402 437 37,095 37,532 Deferred loan (fees) cost, net - - - - (721 ) $ 828 $ 7,714 $ 8,542 $ 542,454 $ 550,275 December 31, 2014 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (dollars in thousands) Total Loans Commercial and industrial $ 141 $ 632 $ 773 $ 57,444 $ 58,217 Construction - 816 816 82,777 83,593 Multi-family residential - 901 901 41,323 42,224 Commercial real estate 3,377 2,576 5,953 227,677 233,630 Loans to individuals & overdrafts 22 - 22 5,995 6,017 1 to 4 family residential 1,464 1,160 2,624 88,279 90,903 HELOC 14 853 867 37,226 38,093 Deferred loan (fees) cost, net - - - - (639) $ 5,018 $ 6,938 $ 11,956 $ 540,721 $ 552,038 Loans- PCI Commercial and industrial $ 2 $ - $ 2 $ 655 $ 657 Construction - - - 1,463 1,463 Multi-family residential - - - 2,724 2,724 Commercial real estate 562 - 562 11,341 11,903 Loans to individuals & overdrafts - - - 128 128 1 to 4 family residential 283 - 283 9,689 9,972 HELOC - - - 188 188 $ 847 $ - $ 847 $ 26,188 $ 27,035 Loans- excluding PCI Commercial and industrial $ 139 $ 632 $ 771 $ 56,789 $ 57,560 Construction - 816 816 81,314 82,130 Multi-family residential - 901 901 38,599 39,500 Commercial real estate 2,815 2,576 5,391 216,336 221,727 Loans to individuals & overdrafts 22 - 22 5,867 5,889 1 to 4 family residential 1,181 1,160 2,341 78,590 80,931 HELOC 14 853 867 37,038 37,905 Deferred loan (fees) cost, net - - - - (639) $ 4,171 $ 6,938 $ 11,109 $ 514,533 $ 525,003 There was one loan in the amount of $ 2.2 Impaired Loans of June 30, 2015 and December 31, 2014: Three months ended Six months ended As of June 30, 2015 June 30, 2015 June 30, 2015 Contractual Interest Income Interest Income Unpaid Average Recognized on Average Recognized on Recorded Principal Related Recorded Impaired Recorded Impaired Investment Balance Allowance Investment Loans Investment Loans (In thousands) With no related allowance recorded: Commercial and industrial $ 518 $ 923 $ - $ 640 $ 6 $ 606 $ 38 Construction 891 1,120 - 973 10 1,095 23 Commercial real estate 2,501 2,947 - 2,556 49 2,468 93 Loans to individuals & overdrafts - - - - - - - Multi-family residential 1,337 1,503 - 1,769 21 1,785 43 1 to 4 family residential 2,434 2,925 - 2,485 28 2,368 59 HELOC 646 795 - 641 9 641 20 Subtotal: 8,327 10,213 - 9,064 123 8,963 276 With an allowance recorded: Commercial and industrial 11 12 3 11 - 138 - Construction 165 168 78 166 1 166 2 Commercial real estate 4,409 5,336 299 4,436 19 4,643 80 Loans to individuals & overdrafts - - - - - - - Multi-family residential - - - - - - - 1 to 4 family residential 502 504 66 495 6 476 10 HELOC 293 535 108 288 - 289 - Subtotal: 5,380 6,555 554 5,396 26 5,712 92 Totals: Commercial 9,832 12,009 380 10,551 106 10,901 279 Consumer - - - - - - - Residential 3,875 4,759 174 3,909 43 3,774 89 Grand Total: $ 13,707 $ 16,768 $ 554 $ 14,460 $ 149 $ 14,675 $ 368 Impaired loans at June 30, 2015 were approximately $ 13.7 8.0 5.4 5.4 8.3 1.7 Three months ended Six months ended As of December 31, 2014 June 30, 2014 June 30, 2014 Contractual Interest Income Interest Income Unpaid Average Recognized on Average Recognized on Recorded Principal Related Recorded Impaired Recorded Impaired Investment Balance Allowance Investment Loans Investment Loans (In thousands) With no related allowance recorded: Commercial and industrial $ 478 $ 478 $ - $ 124 $ 2 $ 159 $ 5 Construction 1,300 1,525 - 1,706 20 1,846 43 Commercial real estate 2,652 3,536 - 3,363 37 3,639 106 Loans to individuals & overdrafts - 2 - 2 - - 2 Multi-family residential 2,232 2,515 - 2,335 36 2,359 74 1 to 4 family residential 2,301 2,750 - 2,421 25 2,968 64 HELOC 637 768 - 707 12 713 21 Subtotal: 9,600 11,574 - 10,658 132 11,684 315 With an allowance recorded: Commercial and industrial 265 267 64 265 - 266 - Construction 167 168 80 168 - 248 - Commercial real estate 4,878 5,761 419 2,693 31 4,216 41 Loans to individuals & overdrafts - - - 10 - - 1 Multi-family residential - - - - - - - 1 to 4 family residential 450 455 74 496 13 561 20 HELOC 284 526 50 473 4 477 9 Subtotal: 6,044 7,177 687 4,105 48 5,768 71 Totals: Commercial 11,972 14,250 563 10,654 126 12,733 269 Consumer - 2 - 12 - - 3 Residential 3,672 4,499 124 4,097 54 4,719 114 Grand Total: $ 15,644 $ 18,751 $ 687 $ 14,763 $ 180 $ 17,452 $ 386 Impaired loans at December 31, 2014 were approximately $ 15.6 6.9 8.7 6.0 9.6 1.6 Loans are placed on non-accrual status when it has been determined that all contractual principal and interest will not be received. Any payments received on these loans are applied to principal first and then to interest only after all principal has been collected. In the case of an impaired loan that is still on accrual basis, payments are applied to both principal and interest. Troubled Debt Restructurings Three months ended June 30, 2015 Six months ended June 30, 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of loans Investment Investment of loans Investment Investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - $ - 1 $ 22 $ 22 Total - $ - $ - 1 $ 22 $ 22 Three months ended June 30, 2014 Six months ended June 30, 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of loans Investment Investment of loans Investment Investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - $ - 1 $ 22 $ 22 Total - - - 1 22 22 Extended payment terms: Commercial real estate 1 46 42 1 46 42 1-to-4 family residential 1 947 942 1 947 942 Total 2 993 984 2 993 984 Total 2 $ 993 $ 984 3 $ 1,015 $ 1,006 Loans may be considered troubled debt restructurings for reasons other than below market interest rates, extended payment terms or forgiveness of principal. Loans in the “Other” category are those that were renewed at terms that vary from those that the Bank would enter into for new loans of the same type. Twelve months ended Twelve months ended June 30, 2015 June 30, 2014 Number Recorded Number Recorded of loans investment of loans investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - 4 $ 298 Total - - 4 298 Extended payment terms: Commercial real estate 1 140 1 947 1-to-4 family residential - - 2 933 Total 1 140 3 1,880 Other: Construction - - 1 68 1-to-4 family residential - - 1 68 Total - - 2 136 Total 1 $ 140 9 $ 2,314 At June 30, 2015, the Bank had forty one loans with an aggregate balance of $ 6.7 3.7 3.0 At June 30, 2014, the Bank had forty-three loans with a total balance of $ 8.1 5.3 2.8 Credit Quality Indicators As part of the on-going monitoring of the credit quality of the loan portfolio, management utilizes a risk grading matrix to assign a risk grade to each of the Company’s loans. All non-consumer loans are graded on a scale of 1 to 9. A description of the general characteristics of these nine different risk grades is as follows: · Risk Grade 1 (Superior) - Credits in this category are virtually risk-free and are well-collateralized by cash-equivalent instruments. The repayment program is well-defined and achievable. Repayment sources are numerous. No material documentation deficiencies or exceptions exist. · Risk Grade 2 (Very Good) - This grade is reserved for loans secured by readily marketable collateral, or loans within guidelines to borrowers with liquid financial statements. A liquid financial statement is a financial statement with substantial liquid assets relative to debts. These loans have excellent sources of repayment, with no significant identifiable risk of collection, and conform in all respects to Bank policy, guidelines, underwriting standards, and Federal and State regulations (no exceptions of any kind). · Risk Grade 3 (Good) - These loans have excellent sources of repayment, with no significant identifiable risk of collection. Generally, loans assigned this risk grade will demonstrate the following characteristics: Conformity in all respects with Bank policy, guidelines, underwriting standards, and Federal and State regulations (no exceptions of any kind). Loans assigned this risk grade will demonstrate the following characteristics: o Documented historical cash flow that meets or exceeds required minimum Bank guidelines, or that can be supplemented with verifiable cash flow from other sources. o Adequate secondary sources to liquidate the debt, including combinations of liquidity, liquidation of collateral, or liquidation value to the net worth of the borrower or guarantor. · Risk Grade 4 (Acceptable) - This grade is given to acceptable loans. These loans have adequate sources of repayment, with little identifiable risk of collection. Loans assigned this risk grade will demonstrate the following characteristics: o General conformity to the Bank's policy requirements, product guidelines and underwriting standards, with limited exceptions. Any exceptions that are identified during the underwriting and approval process have been adequately mitigated by other factors. o Documented historical cash flow that meets or exceeds required minimum Bank guidelines, or that can be supplemented with verifiable cash flow from other sources. o Adequate secondary sources to liquidate the debt, including combinations of liquidity, liquidation of collateral, or liquidation value to the net worth of the borrower or guarantor. Credit Quality Indicators · Risk Grade 5 (Acceptable With Care) - This grade is given to acceptable loans that show signs of weakness in either adequate sources of repayment or collateral, but have demonstrated mitigating factors that minimize the risk of delinquency or loss. Loans assigned this grade may demonstrate some or all of the following characteristics: o Additional exceptions to the Bank's policy requirements, product guidelines or underwriting standards that present a higher degree of risk to the Bank. Although the combination and/or severity of identified exceptions is greater, all exceptions have been properly mitigated by other factors. o Unproven, insufficient or marginal primary sources of repayment that appear sufficient to service the debt at this time. Repayment weaknesses may be due to minor operational issues, financial trends, or reliance on projected (not historic) performance. o Marginal or unproven secondary sources to liquidate the debt, including combinations of liquidation of collateral and liquidation value to the net worth of the borrower or guarantor. · Risk Grade 6 (Watch List or Special Mention) Loans in this category can have the following characteristics: o Loans with underwriting guideline tolerances and/or exceptions and with no mitigating factors. o Extending loans that are currently performing satisfactorily but with potential weaknesses that may, if not corrected, weaken the asset or inadequately protect the Bank's position at some future date. Potential weaknesses are the result of deviations from prudent lending practices. o Loans where adverse economic conditions that develop subsequent to the loan origination that don't jeopardize liquidation of the debt but do substantially increase the level of risk may also warrant this rating. · Risk Grade 7 (Substandard) - A Substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as Substandard must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. · Risk Grade 8 (Doubtful) - Loans classified Doubtful have all the weaknesses inherent in loans classified Substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. · Risk Grade 9 (Loss) - Loans classified as Loss are considered uncollectable and of such little value that their continuance as bankable assets 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 the loan even though partial recovery may be affected in the future. Consumer loans are graded on a scale of 1 to 9. A description of the general characteristics of the nine risk grades is as follows: · Risk Grades 1 5 (Pass) The loans in this category range from loans secured by cash with no risk of principal deterioration (Risk Grade 1) to loans that show signs of weakness in either adequate sources of repayment or collateral but have demonstrated mitigating factors that minimize the risk of delinquency or loss (Risk Grade 5). · Risk Grade 6 (Watch List or Special Mention) - Watch List or Special Mention loans include the following characteristics: o Loans within guideline tolerances or with exceptions of any kind that have not been mitigated by other economic or credit factors. o Extending loans that are currently performing satisfactorily but with potential weaknesses that may, if not corrected, weaken the asset or inadequately protect the Bank's position at some future date. Potential weaknesses are the result of deviations from prudent lending practices. o Loans where adverse economic conditions that develop subsequent to the loan origination that don't jeopardize liquidation of the debt but do substantially increase the level of risk may also warrant this rating. · Risk Grade 7 (Substandard) - A Substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as Substandard must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. · Risk Grade 8 (Doubtful) - Loans classified Doubtful have all the weaknesses inherent in loans classified Substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. · Risk Grade 9 (Loss) - Loans classified Loss are considered uncollectable and of such little value that their continuance as bankable assets 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 worthless loan even though partial recovery may be affected in the future. The following tables present information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class as of June 30, 2015 and December 31, 2014, respectively: Total loans: June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ 982 $ - $ - $ - Very good 1,128 - - - Good 5,723 3,518 16,425 - Acceptable 29,447 14,820 128,889 30,967 Acceptable with care 32,624 75,869 75,160 8,831 Special mention 70 872 9,550 - Substandard 430 954 6,447 2,054 Doubtful - - - - Loss - - - - $ 70,404 $ 96,033 $ 236,471 $ 41,852 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 78,267 $ 36,192 Special mention 3,795 471 Substandard 3,864 1,059 $ 85,926 $ 37,722 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 6,020 Non pass 22 $ 6,042 June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ - $ - $ - $ - Very good - - - - Good - - - - Acceptable - - - - Acceptable with care 488 1,379 8,909 863 Special mention - 64 1,931 - Substandard 40 - 552 - Doubtful - - - - Loss - - - - $ 528 $ 1,443 $ 11,392 $ 863 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 5,337 $ 190 Special mention 2,980 - Substandard 599 - $ 8,916 $ 190 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 113 Non pass 9 $ 122 June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ 982 $ - $ - $ - Very good 1,128 - - - Good 5,723 3,518 16,425 - Acceptable 29,447 14,820 128,889 30,967 Acceptable with care 32,136 74,490 66,251 7,968 Special mention 70 808 7,619 - Substandard 390 954 5,895 2,054 Doubtful - - - - Loss - - - - $ 69,876 $ 94,590 $ 225,079 $ 40,989 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 72,930 $ 36,002 Special mention 815 471 Substandard 3,265 1,059 $ 77,010 $ 37,532 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,907 Non pass 13 $ 5,920 December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,241 $ - $ - $ - Very good 1,110 - - - Good 5,282 2,705 15,276 - Acceptable 26,132 13,579 128,056 31,619 Acceptable with care 23,404 65,717 75,554 8,374 Special mention 221 384 8,036 1,330 Substandard 827 1,208 6,708 901 Doubtful - - - - Loss - - - - $ 58,217 $ 83,593 $ 233,630 $ 42,224 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 82,794 $ 36,357 Special mention 3,978 695 Substandard 4,131 1,041 $ 90,903 $ 38,093 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,969 Non-pass 48 $ 6,017 December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ - $ - $ - $ - Very good - - - - Good - - - - Acceptable - - - - Acceptable with care 602 1,397 9,368 2,724 Special mention - 66 1,973 - Substandard 55 - 562 - Doubtful - - - - Loss - - - - $ 657 $ 1,463 $ 11,903 $ 2,724 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 6,437 $ 188 Special mention 2,926 - Substandard 609 - $ 9,972 $ 188 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 117 Non-pass 11 $ 128 December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,241 $ - $ - $ - Very good 1,110 - - - Good 5,282 2,705 15,276 - Acceptable 26,132 13,579 128,056 31,619 Acceptable with care 22,802 64,320 66,186 5,650 Special mention 221 318 6,063 1,330 Substandard 772 1,208 6,146 901 Doubtful - - - - Loss - - - - $ 57,560 $ 82,130 $ 221,727 $ 39,500 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 76,357 $ 36,169 Special mention 1,052 695 Substandard 3,522 1,041 $ 80,931 $ 37,905 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,852 Non-pass 37 $ 5,889 Determining the fair value of PCI loans at acquisition required the Company to estimate cash flows expected to result from those loans and to discount those cash flows at appropriate rates of interest. For such loans, the excess of cash flows expected to be collected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans and is called the accretable yield. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the impact of estimated credit losses and is called the nonaccretable difference. In accordance with GAAP, there was no carry-over of previously established allowance for credit losses from the acquired company. Three Months Six Months Ended June 30, Ended June 30, 2015 2015 (Dollars in thousands) Accretable yield, beginning of period $ 3,434 $ 3,762 Accretion (321) (649) Reclassification from (to) nonaccretable difference 95 95 Other changes, net 112 112 Accretable yield, end of period $ 3,320 $ 3,320 Allowance for Loan Losses The allowance for loan losses is a reserve established through provisions for loan losses charged to income and represents management’s best estimate of probable loan losses that have been incurred within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated losses and risk inherent in the loan portfolio. The Company’s allowance for loan loss methodology is based on historical loss experience by type of credit and internal risk grade, specific homogeneous risk pools and specific loss allocations, with adjustments for current events and conditions. The Company’s process for determining the appropriate level of reserves is designed to account for changes in credit quality as they occur. The provision for loan losses reflects loan quality trends, including the levels of and trends related to past due loans and economic conditions at the local and national levels. It also considers the quality and risk characteristics of the Company’s loan origination and servicing policies and practices. As of March 31, 2014, the Company elected to change the allowance for loan loss model it uses to calculate historical loss rates and qualitative and environmental factors in its allowance for loan losses. The Company elected to change the model used for allowance for loan losses in order to utilize the loss migration, improve the objectivity of loss projections, and increase reliability of identifying losses inherent in the portfolio. The impact of the change to the model resulted in a $177,000 increase to the loan loss reserves as of the time of the change. In determining the loss history to be applied to its ASC 450 loan pools within the allowance for loan losses, the Company previously used loss history based on the weighted average net charge off history for the most recent fo |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) [Text Block] | NOTE H ACCUMULATED OTHER COMPREHENSIVE INCOME Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Beginning balance $ 1,131 $ 132 $ 809 $ (108) Unrealized gain (loss) on investment securities available for sale (680) 547 (72) 929 Tax effect 259 (204) 25 (346) Other comprehensive gain (loss) before reclassification (421) 343 (47) 583 Amounts reclassified from accumulated comprehensive income: Realized loss on investment securities included in net income (134) - (219) - Tax effect 45 - 78 - Total reclassifications net of tax (89) - (141) - Net current period other comprehensive income (loss) 510 343 (188) 583 Ending balance $ 621 $ 475 $ 621 $ 475 The income statement line items impacted by the reclassifications of realized gains (losses) on investment securities are the gain (loss) on the sale of securities and income tax expense line items in the consolidated statement of operations. |
REPURCHASE AGREEMENTS
REPURCHASE AGREEMENTS | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Remaining Contractual Maturity Of The Securities Sold Under Agreements To Repurchase By Class Of Collateral Pledged [Text Block] | NOTE I - REPURCHASE AGREEMENTS We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and secure long-term funding needs. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates the Company to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under agreements to repurchase are recorded at the amount of cash received in connection with the transaction and are reflected as short-term borrowings. We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with our repurchase agreements is market risk associated with the investments securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements totaled $ 12.9 15.7 June 30, 2015 Remaining Contractual Maturity of the Agreements (Dollars in thousands) Overnight and Up to 30 30-90 Greater than Total Repurchase agreements Government agency $ 2,622 $ - $ - $ - $ 2,622 Mortgage Back Securities 8,142 - - - 8,142 Municipals 2,120 - - - 2,120 Total borrowings $ 12,884 $ - $ - $ - $ 12,884 Gross amount of recognized liabilities for repurchase agreements $ 12,884 December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 30-90 Greater than Total Repurchase Government agency $ 4,909 $ - $ - $ - $ 4,909 Mortgage Back Securities 8,228 - - - 8,228 Municipals 2,526 - - - 2,526 Total borrowings $ 15,663 $ - $ - $ - $ 15,663 Gross amount of recognized liabilities for repurchase agreements $ 15,663 |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Real Estate Owned [Text Block] | NOTE J OTHER REAL ESTATE OWNED Six Months Six Months Ended June 30, Ended June 30, 2015 2014 (Dollars in thousands) Beginning balance January 1 $ 1,585 $ 2,008 Sales (543) (1,227) Writedowns (55) (272) Transfers 43 660 Ending balance $ 1,030 $ 1,169 At June 30, 2015 and December 31, 2014, the Company had $ 1.0 1.6 The Company did not have any |
PER SHARE RESULTS (Tables)
PER SHARE RESULTS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Basic net income per share is computed based upon the weighted average number of shares of common stock outstanding during the period. Diluted net income per share includes the dilutive effect of stock options outstanding during the period. At June 30, 2015 and 2014 there were 111,080 91,183 Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Weighted average shares used for basic net income available to common shareholders 11,481,137 6,923,640 11,453,908 6,922,651 Effect of dilutive stock options 67,741 4,788 75,697 3,667 Weighted average shares used for diluted net income available to common shareholders 11,548,878 6,928,428 11,529,605 6,926,318 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 (in thousands): Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable June 30, 2015 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies GSE's $ 23,546 $ - $ 23,546 $ - Mortgage-backed securities - GSE’s 43,649 - 43,649 - Municipal bonds 19,743 - 19,743 - Total $ 86,938 $ - $ 86,938 $ - Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2014 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies GSE's $ 27,921 $ - $ 27,921 $ - Mortgage-backed securities - GSE’s 53,304 - 53,304 - Municipal bonds 21,010 - 21,010 - Total $ 102,235 $ - $ 102,235 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a non-recurring basis as of June 30, 2015 and December 31, 2014 (in thousands): Quoted Prices in Significant Active Markets Other Significant Asset Category for Identical Observable Unobservable June 30, 2015 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 5,416 $ - $ - $ 5,416 Foreclosed real estate 1,030 - - 1,030 Total $ 6,446 $ - $ - $ 6,446 Quoted Prices in Significant Active Markets Other Significant Asset Category for Identical Observable Unobservable December 31, 2014 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,896 $ - $ - $ 6,896 Foreclosed real estate 1,585 - - 1,585 Total $ 8,481 $ - $ - $ 8,481 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | The following table presents the carrying values and estimated fair values of the Company's financial instruments at June 30, 2015 and December 31, 2014: June 30, 2015 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and due from banks $ 13,210 $ 13,210 $ 13,210 $ - $ - Certificates of deposit 1,000 1,000 1,000 - - Interest-earning deposits in other banks 14,326 14,326 14,326 - - Investment securities available for sale 86,938 86,938 - 86,938 - Loans, net 566,887 576,016 - - 576,016 Accrued interest receivable 2,268 2,268 - - 2,268 Stock in FHLB 2,049 2,049 - - 2,049 Other non-marketable securities 845 845 - - 845 Financial liabilities: Deposits $ 579,609 $ 581,304 $ - $ 581,304 $ - Short term debt 32,884 32,884 - 32,884 - Long term debt 24,914 17,701 - 17,701 - Accrued interest payable 197 197 - 197 - December 31, 2014 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (In thousands) Financial assets: Cash and due from banks $ 14,417 $ 14,417 $ 14,417 $ - $ - Certificates of deposit 1,000 1,000 1,000 - - Interest-earning deposits in other banks 22,810 22,810 22,810 - - Federal funds sold and repurchase agreeements 20,183 20,183 20,183 - - Investment securities available for sale 102,235 102,235 - 102,235 - Loans, net 545,194 555,736 - - 555,736 Accrued interest receivable 2,416 2,416 - - 2,416 Stock in the FHLB 1,524 1,524 - - 1,524 Other non-marketable securities 896 896 - - 896 Financial liabilities: Deposits $ 618,902 $ 621,049 $ - $ 621,049 $ - Short-term debt 20,733 20,593 - 20,593 - Long-term debt 25,591 20,771 - 20,771 - Accrued interest payable 276 276 - 276 - |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follow: June 30, 2015 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (In thousands) Securities available for sale: U.S. government agencies-GSE’s Within 1 year $ 34 $ 1 $ - $ 35 After 1 year but within 5 years 9,655 37 (16) 9,676 After 5 years but within 10 years 11,559 51 (202) 11,408 After 10 years 2,448 - (21) 2,427 Mortgage-backed securities-GSE’s Within 1 year 9 - - 9 After 1 year but within 5 years 31,100 677 (42) 31,735 After 5 years but within 10 years 11,640 129 (10) 11,759 After 10 years 130 16 - 146 Municipal bonds Within 1 year 581 8 - 589 After 1 year but within 5 years 3,619 118 - 3,737 After 5 years but within 10 years 6,116 94 (2) 6,208 After 10 years 9,057 153 (1) 9,209 $ 85,948 $ 1,284 $ (294) $ 86,938 As of June 30, 2015, accumulated other comprehensive income included net unrealized gains totaling $ 1.0 369,000 December 31, 2014 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (In thousands) Securities available for sale: U.S. government agencies-GSE’s Within 1 year $ 6,352 $ 8 $ - $ 6,360 After 1 year but within 5 years 6,018 21 (24) 6,015 After 5 years but within 10 years 10,032 32 (227) 9,837 After 10 years 5,778 - (69) 5,709 Mortgage-backed securities-GSE’s Within 1 year 21 1 - 22 After 1 year but within 5 years 35,114 974 (39) 36,049 After 5 years but within 10 years 17,143 140 (50) 17,233 Municipal bonds Within 1 year 576 3 - 579 After 1 year but within 5 years 3,806 144 - 3,950 After 5 years but within 10 years 6,351 116 (2) 6,465 After 10 years 9,763 253 - 10,016 $ 100,954 $ 1,692 $ (411) $ 102,235 |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables show the gross unrealized losses and fair value of the Company’s investment securities, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at June 30, 2015 and December 31, 2014. June 30, 2015 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (In thousands) Securities available for sale: U.S. government agencies- GSE’s $ 3,345 $ (63) $ 9,353 $ (176) $ 12,698 $ (239) Mortgage-backed securities- GSE’s 6,239 (52) - - 6,239 (52) Municipal bonds 682 (3) - - 682 (3) Total temporarily impaired securities $ 10,266 $ (118) $ 9,353 $ (176) $ 19,619 $ (294) All unrealized losses are attributable to the general trend of interest rates. During the second quarter of 2015 gross proceeds of investment sales amounted to $ 2.2 December 31, 2014 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies GSE’s $ 2,926 $ (24) $ 12,731 $ (296) $ 15,657 $ (320) Mortgage-backed securities- GSE’s 1,965 (28) 4,590 (61) 6,555 (89) Municipal bonds - - 112 (2) 112 (2) Total temporarily impaired securities $ 4,891 $ (52) $ 17,433 $ (359) $ 22,324 $ (411) |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Following is a summary of the composition of the Company’s loan portfolio at June 30, 2015 and December 31, 2014: June 30, December 31, Total Loans: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 85,926 14.98 % $ 90,903 16.47 % Commercial real estate 236,471 41.22 % 233,630 42.32 % Multi-family residential 41,852 7.29 % 42,224 7.65 % Construction 96,033 16.74 % 83,593 15.14 % Home equity lines of credit (“HELOC”) 37,722 6.57 % 38,093 6.90 % Total real estate loans 498,004 86.80 % 488,443 88.48 % Other loans: Commercial and industrial 70,404 12.27 % 58,217 10.55 % Loans to individuals 5,947 1.04 % 5,953 1.08 % Overdrafts 95 0.02 % 64 0.01 % Total other loans 76,446 13.33 % 64,234 11.64 % Gross loans 574,450 552,677 Less deferred loan origination fees, net (721) (0.13) % (639) (0.12) % Total loans 573,729 100.00 % 552,038 100.00 % Allowance for loan losses (6,842) (6,844) Total loans, net $ 566,887 $ 545,194 June 30, December 31, Purchased Credit Impaired (PCI) Loans: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 8,916 38.02 % $ 9,972 36.89 % Commercial real estate 11,392 48.57 % 11,903 44.03 % Multi-family residential 863 3.68 % 2,724 10.08 % Construction 1,443 6.15 % 1,463 5.41 % Home equity lines of credit (“HELOC”) 190 0.81 % 188 0.69 % Total real estate loans 22,804 97.23 % 26,250 97.10 % Other loans: Commercial and industrial 528 2.25 % 657 2.43 % Loans to individuals 122 0.52 % 128 0.47 % Overdrafts - 0.00 % - 0.00 % Total other loans 650 2.77 % 785 2.90 % Gross loans 23,454 27,035 Less deferred loan origination fees, net - - % - - % Total loans 23,454 100.00 % 27,035 100.00 % Allowance for loan losses 68 - Total loans, net $ 23,386 $ 27,035 June 30, December 31, Loans excluding PCI: 2015 2014 Percent Percent Amount of total Amount of total (Dollars in thousands) Real estate loans: 1 to 4 family residential $ 77,010 13.99 % $ 80,931 15.42 % Commercial real estate 225,079 40.90 % 221,727 42.23 % Multi-family residential 40,989 7.45 % 39,500 7.52 % Construction 94,590 17.19 % 82,130 15.64 % Home equity lines of credit (“HELOC”) 37,532 6.82 % 37,905 7.22 % Total real estate loans 475,200 86.35 % 462,193 88.03 % Other loans: Commercial and industrial 69,876 12.70 % 57,560 10.97 % Loans to individuals 5,825 1.06 % 5,825 1.11 % Overdrafts 95 0.02 % 64 0.01 % Total other loans 75,796 13.78 % 63,449 12.09 % Gross loans 550,996 525,642 Less deferred loan origination fees, net (721) (0.13) % (639) (0.12) % Total loans 550,275 100.00 % 525,003 100.00 % Allowance for loan losses (6,774) (6,844) Total loans, net $ 543,501 $ 518,159 |
Schedule of Fair Values of Expected Cash Flows and Loan Related Payments to Acquired Company at the Time of Merger [Table Text Block] | For PCI loans acquired from Legacy Select, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger and June 30, 2015 were: (Dollars in thousands) June 30, 2015 July 25, 2014 Contractually required payments $ 28,234 $ 34,329 Nonaccretable difference 1,460 1,402 Cash flows expected to be collected 26,774 32,927 Accretable yield 3,320 4,360 Fair value $ 23,454 $ 28,567 |
Past Due Financing Receivables [Table Text Block] | Total Loans: June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ 130 $ 405 $ 535 $ 69,869 $ 70,404 Construction - 199 199 95,834 96,033 Multi-family residential 437 - 437 41,415 41,852 Commercial real estate 835 770 1,605 234,866 236,471 Loans to individuals & overdrafts 1 - 1 6,041 6,042 1-to-4 family residential 380 6,218 6,598 79,328 85,926 HELOC 35 402 437 37,285 37,722 Deferred loan (fees) cost, net - - - - (721 ) $ 1,818 $ 7,994 $ 9,812 $ 564,638 $ 573,729 Total PCI Loans: June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ - $ - $ - $ 528 $ 528 Construction - - - 1,443 1,443 Multi-family residential 437 - 437 426 863 Commercial real estate 553 - 553 10,839 11,392 Loans to individuals & overdrafts - - - 122 122 1-to-4 family residential - 280 280 8,636 8,916 HELOC - - - 190 190 $ 990 $ 280 $ 1,270 $ 22,184 $ 23,454 Total Loans (excluding PCI): June 30, 2015 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (In thousands) Commercial and industrial $ 130 $ 405 $ 535 $ 69,341 $ 69,876 Construction - 199 199 94,391 94,590 Multi-family residential - - - 40,989 40,989 Commercial real estate 282 770 1,052 224,027 225,079 Loans to individuals & overdrafts 1 - 1 5,919 5,920 1-to-4 family residential 380 5,938 6,318 70,692 77,010 HELOC 35 402 437 37,095 37,532 Deferred loan (fees) cost, net - - - - (721 ) $ 828 $ 7,714 $ 8,542 $ 542,454 $ 550,275 There were two loans that amounted to $280,000 that were more than 90 days past due and still accruing interest at June 30, 2015. December 31, 2014 30+ Non- Total Days Accrual Past Total Past Due Loans Due Current Loans (dollars in thousands) Total Loans Commercial and industrial $ 141 $ 632 $ 773 $ 57,444 $ 58,217 Construction - 816 816 82,777 83,593 Multi-family residential - 901 901 41,323 42,224 Commercial real estate 3,377 2,576 5,953 227,677 233,630 Loans to individuals & overdrafts 22 - 22 5,995 6,017 1 to 4 family residential 1,464 1,160 2,624 88,279 90,903 HELOC 14 853 867 37,226 38,093 Deferred loan (fees) cost, net - - - - (639) $ 5,018 $ 6,938 $ 11,956 $ 540,721 $ 552,038 Loans- PCI Commercial and industrial $ 2 $ - $ 2 $ 655 $ 657 Construction - - - 1,463 1,463 Multi-family residential - - - 2,724 2,724 Commercial real estate 562 - 562 11,341 11,903 Loans to individuals & overdrafts - - - 128 128 1 to 4 family residential 283 - 283 9,689 9,972 HELOC - - - 188 188 $ 847 $ - $ 847 $ 26,188 $ 27,035 Loans- excluding PCI Commercial and industrial $ 139 $ 632 $ 771 $ 56,789 $ 57,560 Construction - 816 816 81,314 82,130 Multi-family residential - 901 901 38,599 39,500 Commercial real estate 2,815 2,576 5,391 216,336 221,727 Loans to individuals & overdrafts 22 - 22 5,867 5,889 1 to 4 family residential 1,181 1,160 2,341 78,590 80,931 HELOC 14 853 867 37,038 37,905 Deferred loan (fees) cost, net - - - - (639) $ 4,171 $ 6,938 $ 11,109 $ 514,533 $ 525,003 |
Impaired Financing Receivables [Table Text Block] | The following tables present information on loans that were considered to be impaired as of June 30, 2015 and December 31, 2014: Three months ended Six months ended As of June 30, 2015 June 30, 2015 June 30, 2015 Contractual Interest Income Interest Income Unpaid Average Recognized on Average Recognized on Recorded Principal Related Recorded Impaired Recorded Impaired Investment Balance Allowance Investment Loans Investment Loans (In thousands) With no related allowance recorded: Commercial and industrial $ 518 $ 923 $ - $ 640 $ 6 $ 606 $ 38 Construction 891 1,120 - 973 10 1,095 23 Commercial real estate 2,501 2,947 - 2,556 49 2,468 93 Loans to individuals & overdrafts - - - - - - - Multi-family residential 1,337 1,503 - 1,769 21 1,785 43 1 to 4 family residential 2,434 2,925 - 2,485 28 2,368 59 HELOC 646 795 - 641 9 641 20 Subtotal: 8,327 10,213 - 9,064 123 8,963 276 With an allowance recorded: Commercial and industrial 11 12 3 11 - 138 - Construction 165 168 78 166 1 166 2 Commercial real estate 4,409 5,336 299 4,436 19 4,643 80 Loans to individuals & overdrafts - - - - - - - Multi-family residential - - - - - - - 1 to 4 family residential 502 504 66 495 6 476 10 HELOC 293 535 108 288 - 289 - Subtotal: 5,380 6,555 554 5,396 26 5,712 92 Totals: Commercial 9,832 12,009 380 10,551 106 10,901 279 Consumer - - - - - - - Residential 3,875 4,759 174 3,909 43 3,774 89 Grand Total: $ 13,707 $ 16,768 $ 554 $ 14,460 $ 149 $ 14,675 $ 368 Impaired loans at June 30, 2015 were approximately $ 13.7 8.0 5.4 5.4 8.3 1.7 Three months ended Six months ended As of December 31, 2014 June 30, 2014 June 30, 2014 Contractual Interest Income Interest Income Unpaid Average Recognized on Average Recognized on Recorded Principal Related Recorded Impaired Recorded Impaired Investment Balance Allowance Investment Loans Investment Loans (In thousands) With no related allowance recorded: Commercial and industrial $ 478 $ 478 $ - $ 124 $ 2 $ 159 $ 5 Construction 1,300 1,525 - 1,706 20 1,846 43 Commercial real estate 2,652 3,536 - 3,363 37 3,639 106 Loans to individuals & overdrafts - 2 - 2 - - 2 Multi-family residential 2,232 2,515 - 2,335 36 2,359 74 1 to 4 family residential 2,301 2,750 - 2,421 25 2,968 64 HELOC 637 768 - 707 12 713 21 Subtotal: 9,600 11,574 - 10,658 132 11,684 315 With an allowance recorded: Commercial and industrial 265 267 64 265 - 266 - Construction 167 168 80 168 - 248 - Commercial real estate 4,878 5,761 419 2,693 31 4,216 41 Loans to individuals & overdrafts - - - 10 - - 1 Multi-family residential - - - - - - - 1 to 4 family residential 450 455 74 496 13 561 20 HELOC 284 526 50 473 4 477 9 Subtotal: 6,044 7,177 687 4,105 48 5,768 71 Totals: Commercial 11,972 14,250 563 10,654 126 12,733 269 Consumer - 2 - 12 - - 3 Residential 3,672 4,499 124 4,097 54 4,719 114 Grand Total: $ 15,644 $ 18,751 $ 687 $ 14,763 $ 180 $ 17,452 $ 386 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents loans that were modified as troubled debt restructurings (“TDRs”) with a breakdown of the types of concessions made by loan class during the three and six months ended June 30, 2015 and 2014: Three months ended June 30, 2015 Six months ended June 30, 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of loans Investment Investment of loans Investment Investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - $ - 1 $ 22 $ 22 Total - $ - $ - 1 $ 22 $ 22 Three months ended June 30, 2014 Six months ended June 30, 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number Recorded Recorded Number Recorded Recorded of loans Investment Investment of loans Investment Investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - $ - 1 $ 22 $ 22 Total - - - 1 22 22 Extended payment terms: Commercial real estate 1 46 42 1 46 42 1-to-4 family residential 1 947 942 1 947 942 Total 2 993 984 2 993 984 Total 2 $ 993 $ 984 3 $ 1,015 $ 1,006 The following table presents loans that were modified as TDRs within the past twelve months with a breakdown of the types for which there was a payment default together with concessions made by loan class during the twelve month period ended June 30, 2015 and 2014: Twelve months ended Twelve months ended June 30, 2015 June 30, 2014 Number Recorded Number Recorded of loans investment of loans investment (Dollars in thousands) Below market interest rate: 1-to-4 family residential - $ - 4 $ 298 Total - - 4 298 Extended payment terms: Commercial real estate 1 140 1 947 1-to-4 family residential - - 2 933 Total 1 140 3 1,880 Other: Construction - - 1 68 1-to-4 family residential - - 1 68 Total - - 2 136 Total 1 $ 140 9 $ 2,314 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ 982 $ - $ - $ - Very good 1,128 - - - Good 5,723 3,518 16,425 - Acceptable 29,447 14,820 128,889 30,967 Acceptable with care 32,624 75,869 75,160 8,831 Special mention 70 872 9,550 - Substandard 430 954 6,447 2,054 Doubtful - - - - Loss - - - - $ 70,404 $ 96,033 $ 236,471 $ 41,852 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 78,267 $ 36,192 Special mention 3,795 471 Substandard 3,864 1,059 $ 85,926 $ 37,722 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 6,020 Non pass 22 $ 6,042 Total PCI loans: June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ - $ - $ - $ - Very good - - - - Good - - - - Acceptable - - - - Acceptable with care 488 1,379 8,909 863 Special mention - 64 1,931 - Substandard 40 - 552 - Doubtful - - - - Loss - - - - $ 528 $ 1,443 $ 11,392 $ 863 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 5,337 $ 190 Special mention 2,980 - Substandard 599 - $ 8,916 $ 190 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 113 Non pass 9 $ 122 Total loans, excluding PCI loans: June 30, 2015 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (In thousands) Superior $ 982 $ - $ - $ - Very good 1,128 - - - Good 5,723 3,518 16,425 - Acceptable 29,447 14,820 128,889 30,967 Acceptable with care 32,136 74,490 66,251 7,968 Special mention 70 808 7,619 - Substandard 390 954 5,895 2,054 Doubtful - - - - Loss - - - - $ 69,876 $ 94,590 $ 225,079 $ 40,989 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 72,930 $ 36,002 Special mention 815 471 Substandard 3,265 1,059 $ 77,010 $ 37,532 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,907 Non pass 13 $ 5,920 Total Loans: December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,241 $ - $ - $ - Very good 1,110 - - - Good 5,282 2,705 15,276 - Acceptable 26,132 13,579 128,056 31,619 Acceptable with care 23,404 65,717 75,554 8,374 Special mention 221 384 8,036 1,330 Substandard 827 1,208 6,708 901 Doubtful - - - - Loss - - - - $ 58,217 $ 83,593 $ 233,630 $ 42,224 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 82,794 $ 36,357 Special mention 3,978 695 Substandard 4,131 1,041 $ 90,903 $ 38,093 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,969 Non-pass 48 $ 6,017 PCI Loans: December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ - $ - $ - $ - Very good - - - - Good - - - - Acceptable - - - - Acceptable with care 602 1,397 9,368 2,724 Special mention - 66 1,973 - Substandard 55 - 562 - Doubtful - - - - Loss - - - - $ 657 $ 1,463 $ 11,903 $ 2,724 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 6,437 $ 188 Special mention 2,926 - Substandard 609 - $ 9,972 $ 188 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 117 Non-pass 11 $ 128 Total Loans, excluding PCI Loans: December 31, 2014 Commercial Credit Exposure By Commercial Commercial Internally and Real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,241 $ - $ - $ - Very good 1,110 - - - Good 5,282 2,705 15,276 - Acceptable 26,132 13,579 128,056 31,619 Acceptable with care 22,802 64,320 66,186 5,650 Special mention 221 318 6,063 1,330 Substandard 772 1,208 6,146 901 Doubtful - - - - Loss - - - - $ 57,560 $ 82,130 $ 221,727 $ 39,500 Consumer Credit Exposure By Internally 1-to-4 family Assigned Grade residential HELOC Pass $ 76,357 $ 36,169 Special mention 1,052 695 Substandard 3,522 1,041 $ 80,931 $ 37,905 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 5,852 Non-pass 37 $ 5,889 |
Schedule Of Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield [Table Text Block] | The following table documents changes to the amount of the accretable yield on PCI loans for the three and six months ended June 30, 2015 (dollars in thousands): Three Months Six Months Ended June 30, Ended June 30, 2015 2015 (Dollars in thousands) Accretable yield, beginning of period $ 3,434 $ 3,762 Accretion (321) (649) Reclassification from (to) nonaccretable difference 95 95 Other changes, net 112 112 Accretable yield, end of period $ 3,320 $ 3,320 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | The following tables present a roll forward of the Company’s allowance for loan losses by loan class for the three and six month periods ended June 30, 2015, respectively: Three months ended June 30, 2015 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total Loans excluding PCI Balance, beginning of period $ 982 $ 1,209 $ 2,845 $ 606 $ 851 $ 167 $ 259 $ 6,919 Provision for loan losses 192 100 (283) (45) (96) (7) (68) (207) Loans charged-off (130) - - - - (11) (5) (146) Recoveries 33 4 11 41 9 4 106 208 Balance, end of period $ 1,077 $ 1,313 $ 2,573 $ 602 $ 764 $ 153 $ 292 $ 6,774 PCI Loans Balance, beginning of period $ - $ - $ - $ - $ - $ - $ - $ - Provision for loan losses - - 57 - 9 - 2 68 Loans charged-off - - - - - - - - Recoveries - - - - - - - - Balance, end of period $ - $ - $ 57 $ - $ 9 $ - $ 2 $ 68 Total Loans Balance, beginning of period $ 982 $ 1,209 $ 2,845 $ 606 $ 851 $ 167 $ 259 $ 6,919 Provision for loan losses 192 100 (226) (45) (87) (7) (66) (139) Loans charged-off (130) - - - - (11) (5) (146) Recoveries 33 4 11 41 9 4 106 208 Balance, end of period $ 1,077 $ 1,313 $ 2,630 $ 602 $ 773 $ 153 $ 294 $ 6,842 Ending Balance: individually evaluated for impairment $ 3 $ 78 $ 299 $ 66 $ 108 $ - $ - $ 554 Ending Balance: collectively evaluated for impairment $ 1,074 $ 1,235 $ 2,331 $ 536 $ 665 $ 153 $ 294 $ 6,288 Loans: Ending Balance: collectively evaluated for impairment $ 69,875 $ 94,977 $ 229,561 $ 82,990 $ 36,783 $ 6,042 $ 40,515 $ 560,734 Ending Balance: individually evaluated for impairment $ 529 $ 1,056 $ 6,910 $ 2,936 $ 939 $ - $ 1,337 $ 13,707 Ending Balance $ 70,404 $ 96,033 $ 236,471 $ 85,926 $ 37,722 $ 6,042 $ 41,852 $ 574,450 Six months ended June 30, 2015 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & Family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total Loans excluding PCI Balance, beginning of period $ 803 $ 1,103 $ 2,914 $ 630 $ 930 $ 185 $ 279 $ 6,844 Provision for loan losses 365 202 (323) (85) (137) (11) (88) (77) Loans charged-off (130) - (29) - (40) (35) (5) (239) Recoveries 39 8 11 57 11 14 106 246 Balance, end of period $ 1,077 $ 1,313 $ 2,573 $ 602 $ 764 $ 153 $ 292 $ 6,774 PCI Loans Balance, beginning of period $ - $ - $ - $ - $ - $ - $ - $ - Provision for loan losses - - 57 - 9 - 2 68 Loans charged-off - - - - - - - - Recoveries - - - - - - - - Balance, end of period $ - $ - $ 57 $ - $ 9 $ - $ 2 $ 68 Total Loans Balance, beginning of period $ 803 $ 1,103 $ 2,914 $ 630 $ 930 $ 185 $ 279 $ 6,844 Provision for loan losses 365 202 (266) (85) (128) (11) (86) (9) Loans charged-off (130) - (29) - (40) (35) (5) (239) Recoveries 39 8 11 57 11 14 106 246 Balance, end of period $ 1,077 $ 1,313 $ 2,630 $ 602 $ 773 $ 153 $ 294 $ 6,842 The following tables present a roll forward of the Company’s allowance for loan losses by loan class for the three and six month periods ended June 30, 2014, respectively: Three months ended June 30, 2014 Commercial 1-to-4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total (In thousands) Balance, beginning of period $ 513 $ 889 $ 3,283 $ 585 $ 1,293 $ 171 $ 291 $ 7,025 Provision (recovery) for loan losses (4) 110 (384) (9) (106) (9) (25) (427) Loans charged-off - - - - (231) (13) - (244) Recoveries 14 3 4 12 53 7 - 93 Balance, end of period $ 523 $ 1,002 $ 2,903 $ 588 $ 1,009 $ 156 $ 266 $ 6,447 Ending balance: individually evaluated for impairment $ 66 $ 81 $ 426 $ 43 $ 140 $ 20 $ - $ 776 Ending balance: collectively evaluated for impairment $ 457 $ 921 $ 2,477 $ 545 $ 869 $ 136 $ 266 $ 5,671 Loans: Ending balance: collectively evaluated for impairment $ 31,272 $ 58,739 $ 150,985 $ 27,721 $ 29,502 $ 5,637 $ 16,105 $ 319,961 Ending balance: individually evaluated for impairment $ 388 $ 1,802 $ 5,986 $ 2,948 $ 1,059 $ 22 $ 2,331 $ 14,536 Ending balance $ 31,660 $ 60,541 $ 156,971 $ 30,669 $ 30,561 $ 5,659 $ 18,436 $ 334,497 Six months ended June 30, 2014 Commercial 1-to-4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate Residential HELOC overdrafts residential Total (In thousands) Balance, beginning of period $ 245 $ 565 $ 4,599 $ 826 $ 680 $ 65 $ 74 $ 7,054 Provision (recovery) for loan losses 318 376 (1,724) (274) 539 97 192 (476) Loans charged-off (63) - - (1) (271) (19) - (354) Recoveries 23 61 28 37 61 13 - 223 Balance, end of period $ 523 $ 1,002 $ 2,903 $ 588 $ 1,009 $ 156 $ 266 $ 6,447 |
ACCUMULATED OTHER COMPREHENSI22
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents changes in accumulated other comprehensive income for the three and six months ended June 30, 2015 and 2014. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In thousands) Beginning balance $ 1,131 $ 132 $ 809 $ (108) Unrealized gain (loss) on investment securities available for sale (680) 547 (72) 929 Tax effect 259 (204) 25 (346) Other comprehensive gain (loss) before reclassification (421) 343 (47) 583 Amounts reclassified from accumulated comprehensive income: Realized loss on investment securities included in net income (134) - (219) - Tax effect 45 - 78 - Total reclassifications net of tax (89) - (141) - Net current period other comprehensive income (loss) 510 343 (188) 583 Ending balance $ 621 $ 475 $ 621 $ 475 |
REPURCHASE AGREEMENTS (Tables)
REPURCHASE AGREEMENTS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Remaining Contractual Maturity Of The Securities Sold Under Agreements To Repurchase By Class Of Collateral Pledged [Table Text Block] | The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in short-term borrowings as of June 30, 2015 and December 31, 2014 is presented in the following tables. June 30, 2015 Remaining Contractual Maturity of the Agreements (Dollars in thousands) Overnight and Up to 30 30-90 Greater than Total Repurchase agreements Government agency $ 2,622 $ - $ - $ - $ 2,622 Mortgage Back Securities 8,142 - - - 8,142 Municipals 2,120 - - - 2,120 Total borrowings $ 12,884 $ - $ - $ - $ 12,884 Gross amount of recognized liabilities for repurchase agreements $ 12,884 December 31, 2014 Remaining Contractual Maturity of the Agreements Overnight and Up to 30 30-90 Greater than Total Repurchase Government agency $ 4,909 $ - $ - $ - $ 4,909 Mortgage Back Securities 8,228 - - - 8,228 Municipals 2,526 - - - 2,526 Total borrowings $ 15,663 $ - $ - $ - $ 15,663 Gross amount of recognized liabilities for repurchase agreements $ 15,663 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Schedule Of Real Estate Owned Properties [Table Text Block] | The following table explains changes in other real estate owned during the six months ended June 30, 2015 and 2014 (dollars in thousands): Six Months Six Months Ended June 30, Ended June 30, 2015 2014 (Dollars in thousands) Beginning balance January 1 $ 1,585 $ 2,008 Sales (543) (1,227) Writedowns (55) (272) Transfers 43 660 Ending balance $ 1,030 $ 1,169 |
BASIS OF PRESENTATION (Details
BASIS OF PRESENTATION (Details Textual) - USD ($) $ in Millions | 1 Months Ended | |
Jul. 25, 2014 | Sep. 30, 2013 | |
Basis Of Presentation [Line Items] | ||
Assets Value of Merger | $ 276.9 | |
Common Stock [Member] | ||
Basis Of Presentation [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 4,416,500 | |
Business Combination Shares Issued Ratio | 1.8264 |
PER SHARE RESULTS (Details)
PER SHARE RESULTS (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Weighted Average Number Of Shares [Line Items] | ||||
Weighted average shares used for basic net income available to common shareholders | 11,481,137 | 6,923,640 | 11,453,908 | 6,922,651 |
Effect of dilutive stock options | 67,741 | 4,788 | 75,697 | 3,667 |
Weighted average shares used for diluted net income available to common shareholders | 11,548,878 | 6,928,428 | 11,529,605 | 6,926,318 |
PER SHARE RESULTS (Details Text
PER SHARE RESULTS (Details Textual) - shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 111,080 | 91,183 |
BUSINESS COMBINATIONS (Details
BUSINESS COMBINATIONS (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | |||
Jul. 25, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | [1] | Sep. 30, 2013 | |
Business Acquisition [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 370,278 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 218,462 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 4 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 628,000 | ||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 28,567,000 | 23,454,000 | |||
Assets Value of Merger | $ 276,900,000 | ||||
Finite-Lived Intangible Assets, Net | 1,320,000 | $ 1,625,000 | |||
Goodwill | $ 6,931,000 | $ 6,931,000 | |||
Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination Shares Issued Ratio | 1.8264 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 31,100,000 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 2,418,347 | ||||
Business Acquisition, Share Price | $ 6.76 | ||||
Share Price | $ 12.35 | ||||
Legacy Select [Member] | |||||
Business Acquisition [Line Items] | |||||
Share Based Compensation Arrangement By Acquired Share Based Payment Award Options Converted Number | 202,842 | ||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 149,529 | ||||
Purchased Credit Impaired Loans [Member] | |||||
Business Acquisition [Line Items] | |||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 28,600,000 | ||||
Performing Loans [Member] | |||||
Business Acquisition [Line Items] | |||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 189,000,000 | ||||
[1] | Derived from audited consolidated financial statements. |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets, Fair Value Disclosure, Recurring | $ 86,938 | $ 102,235 |
US Government Agencies Debt Securities [Member] | ||
Assets, Fair Value Disclosure, Recurring | 23,546 | 27,921 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets, Fair Value Disclosure, Recurring | 43,649 | 53,304 |
Municipal Bonds [Member] | ||
Assets, Fair Value Disclosure, Recurring | 19,743 | 21,010 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Recurring | 86,938 | 102,235 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets, Fair Value Disclosure, Recurring | 23,546 | 27,921 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets, Fair Value Disclosure, Recurring | 43,649 | 53,304 |
Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ||
Assets, Fair Value Disclosure, Recurring | 19,743 | 21,010 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ||
Assets, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Deta30
FAIR VALUE MEASUREMENTS (Details 1) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets, Fair Value Disclosure, Nonrecurring | $ 6,446 | $ 8,481 |
Impaired Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,416 | 6,896 |
Foreclosed Real Estate [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,030 | 1,585 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Foreclosed Real Estate [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Foreclosed Real Estate [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 6,446 | 8,481 |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,416 | 6,896 |
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 1,030 | $ 1,585 |
FAIR VALUE MEASUREMENTS (Deta31
FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Financial assets: | |||
Cash and due from banks | $ 13,210 | $ 14,417 | [1] |
Certificates of deposit | 1,000 | 1,000 | |
Interest-earning deposits in other banks | 14,326 | 22,810 | |
Federal funds sold and repurchase agreements | 0 | 20,183 | [1] |
Investment securities available for sale | 86,938 | 102,235 | |
Loans, net | 566,887 | 545,194 | |
Accrued interest receivable | 2,268 | 2,416 | [1] |
Stock in FHLB | 2,049 | 1,524 | [1] |
Other non-marketable securities | 845 | 896 | |
Financial liabilities: | |||
Deposits | 579,609 | 618,902 | [1] |
Short term debt | 32,884 | 20,733 | [1] |
Long term debt | 24,914 | 25,591 | [1] |
Accrued interest payable | 197 | 276 | [1] |
Estimate of Fair Value Measurement [Member] | |||
Financial assets: | |||
Cash and due from banks | 13,210 | 14,417 | |
Certificates of deposit | 1,000 | 1,000 | |
Interest-earning deposits in other banks | 14,326 | 22,810 | |
Federal funds sold and repurchase agreements | 20,183 | ||
Investment securities available for sale | 86,938 | 102,235 | |
Loans, net | 576,016 | 555,736 | |
Accrued interest receivable | 2,268 | 2,416 | |
Stock in FHLB | 2,049 | 1,524 | |
Other non-marketable securities | 845 | 896 | |
Financial liabilities: | |||
Deposits | 581,304 | 621,049 | |
Short term debt | 32,884 | 20,593 | |
Long term debt | 17,701 | 20,771 | |
Accrued interest payable | 197 | 276 | |
Fair Value, Inputs, Level 1 [Member] | |||
Financial assets: | |||
Cash and due from banks | 13,210 | 14,417 | |
Certificates of deposit | 1,000 | 1,000 | |
Interest-earning deposits in other banks | 14,326 | 22,810 | |
Federal funds sold and repurchase agreements | 20,183 | ||
Investment securities available for sale | 0 | 0 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Stock in FHLB | 0 | 0 | |
Other non-marketable securities | 0 | 0 | |
Financial liabilities: | |||
Deposits | 0 | 0 | |
Short term debt | 0 | 0 | |
Long term debt | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Financial assets: | |||
Cash and due from banks | 0 | 0 | |
Certificates of deposit | 0 | 0 | |
Interest-earning deposits in other banks | 0 | 0 | |
Federal funds sold and repurchase agreements | 0 | ||
Investment securities available for sale | 86,938 | 102,235 | |
Loans, net | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Stock in FHLB | 0 | 0 | |
Other non-marketable securities | 0 | 0 | |
Financial liabilities: | |||
Deposits | 581,304 | 621,049 | |
Short term debt | 32,884 | 20,593 | |
Long term debt | 17,701 | 20,771 | |
Accrued interest payable | 197 | 276 | |
Fair Value, Inputs, Level 3 [Member] | |||
Financial assets: | |||
Cash and due from banks | 0 | 0 | |
Certificates of deposit | 0 | 0 | |
Interest-earning deposits in other banks | 0 | 0 | |
Federal funds sold and repurchase agreements | 0 | ||
Investment securities available for sale | 0 | 0 | |
Loans, net | 576,016 | 555,736 | |
Accrued interest receivable | 2,268 | 2,416 | |
Stock in FHLB | 2,049 | 1,524 | |
Other non-marketable securities | 845 | 896 | |
Financial liabilities: | |||
Deposits | 0 | 0 | |
Short term debt | 0 | 0 | |
Long term debt | 0 | 0 | |
Accrued interest payable | $ 0 | $ 0 | |
[1] | Derived from audited consolidated financial statements. |
FAIR VALUE MEASUREMENTS (Deta32
FAIR VALUE MEASUREMENTS (Details Textual) | Jun. 30, 2015 |
Minimum [Member] | |
Percentage Of Discount From Impaired Loans | 5.00% |
Maximum [Member] | |
Percentage Of Discount From Impaired Loans | 47.00% |
Fair Value [Member] | Minimum [Member] | |
Percentage Of Discount From Impaired Loans | 5.00% |
Fair Value [Member] | Maximum [Member] | |
Percentage Of Discount From Impaired Loans | 90.00% |
INVESTMENT SECURITIES (Details)
INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | ||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Amortized Cost Total | $ 85,948 | $ 100,954 | |
Available-for-sale Securities, Gross Unrealized Gain | 1,284 | 1,692 | |
Available-for-sale Securities, Gross Unrealized Loss | (294) | (411) | |
Available-for-sale Securities, Fair Value Total | 86,938 | 102,235 | [1] |
Us Government Agencies Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost, Due within one year | 34 | 6,352 | |
Gross Unrealized Gains, Due within one year | 1 | 8 | |
Gross Unrealized Losses, Due within one year | 0 | 0 | |
Fair Value, Due within one year | 35 | 6,360 | |
Amortized Cost, Due after one but within five years | 9,655 | 6,018 | |
Gross Unrealized Gains, Due after one but within five years | 37 | 21 | |
Gross Unrealized Losses, Due after one but within five years | (16) | (24) | |
Fair Value, Due after one but within five years | 9,676 | 6,015 | |
Amortized Cost, Due after five but within ten years | 11,559 | 10,032 | |
Gross Unrealized Gains, Due after five but within ten years | 51 | 32 | |
Gross Unrealized Losses, Due after five but within ten years | (202) | (227) | |
Fair Value, Due after five but within ten years | 11,408 | 9,837 | |
Amortized Cost, Due after ten years | 2,448 | 5,778 | |
Gross Unrealized Gains, Due after ten years | 0 | 0 | |
Gross Unrealized Losses, Due after ten years | (21) | (69) | |
Fair Value, Due after ten years | 2,427 | 5,709 | |
Available-for-sale Securities, Fair Value Total | 2,622 | 4,909 | |
Mortgage-Backed Securities, Issued By Us Government Sponsored Enterprises [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost, Due within one year | 9 | 21 | |
Gross Unrealized Gains, Due within one year | 0 | 1 | |
Gross Unrealized Losses, Due within one year | 0 | 0 | |
Fair Value, Due within one year | 9 | 22 | |
Amortized Cost, Due after one but within five years | 31,100 | 35,114 | |
Gross Unrealized Gains, Due after one but within five years | 677 | 974 | |
Gross Unrealized Losses, Due after one but within five years | (42) | (39) | |
Fair Value, Due after one but within five years | 31,735 | 36,049 | |
Amortized Cost, Due after five but within ten years | 11,640 | 17,143 | |
Gross Unrealized Gains, Due after five but within ten years | 129 | 140 | |
Gross Unrealized Losses, Due after five but within ten years | (10) | (50) | |
Fair Value, Due after five but within ten years | 11,759 | 17,233 | |
Amortized Cost, Due after ten years | 130 | ||
Gross Unrealized Gains, Due after ten years | 16 | ||
Gross Unrealized Losses, Due after ten years | 0 | ||
Fair Value, Due after ten years | 146 | ||
Available-for-sale Securities, Fair Value Total | 8,142 | 8,228 | |
Municipal Bonds [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized Cost, Due within one year | 581 | 576 | |
Gross Unrealized Gains, Due within one year | 8 | 3 | |
Gross Unrealized Losses, Due within one year | 0 | 0 | |
Fair Value, Due within one year | 589 | 579 | |
Amortized Cost, Due after one but within five years | 3,619 | 3,806 | |
Gross Unrealized Gains, Due after one but within five years | 118 | 144 | |
Gross Unrealized Losses, Due after one but within five years | 0 | 0 | |
Fair Value, Due after one but within five years | 3,737 | 3,950 | |
Amortized Cost, Due after five but within ten years | 6,116 | 6,351 | |
Gross Unrealized Gains, Due after five but within ten years | 94 | 116 | |
Gross Unrealized Losses, Due after five but within ten years | (2) | (2) | |
Fair Value, Due after five but within ten years | 6,208 | 6,465 | |
Amortized Cost, Due after ten years | 9,057 | 9,763 | |
Gross Unrealized Gains, Due after ten years | 153 | 253 | |
Gross Unrealized Losses, Due after ten years | (1) | 0 | |
Fair Value, Due after ten years | 9,209 | 10,016 | |
Available-for-sale Securities, Fair Value Total | $ 2,120 | $ 2,526 | |
[1] | Derived from audited consolidated financial statements. |
INVESTMENT SECURITIES (Details
INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale: | ||
Less Than 12 Months Fair value | $ 3,345 | $ 2,926 |
12 Months or More Unrealized losses | (63) | (24) |
12 Months or More Fair value | 9,353 | 12,731 |
12 Months or More Unrealized losses | (176) | (296) |
Total Fair value | 12,698 | 15,657 |
Total Unrealized losses | (239) | (320) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities available for sale: | ||
Less Than 12 Months Fair value | 6,239 | 1,965 |
12 Months or More Unrealized losses | (52) | (28) |
12 Months or More Fair value | 0 | 4,590 |
12 Months or More Unrealized losses | 0 | (61) |
Total Fair value | 6,239 | 6,555 |
Total Unrealized losses | (52) | (89) |
Municipal Bonds [Member] | ||
Securities available for sale: | ||
Less Than 12 Months Fair value | 682 | 0 |
12 Months or More Unrealized losses | (3) | 0 |
12 Months or More Fair value | 0 | 112 |
12 Months or More Unrealized losses | 0 | (2) |
Total Fair value | 682 | 112 |
Total Unrealized losses | (3) | (2) |
Temporarily Impaired Securities [Member] | ||
Securities available for sale: | ||
Less Than 12 Months Fair value | 10,266 | 4,891 |
12 Months or More Unrealized losses | (118) | (52) |
12 Months or More Fair value | 9,353 | 17,433 |
12 Months or More Unrealized losses | (176) | (359) |
Total Fair value | 19,619 | 22,324 |
Total Unrealized losses | $ (294) | $ (411) |
INVESTMENT SECURITIES (Detail35
INVESTMENT SECURITIES (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Available-for-sale Securities, Gross Unrealized Gain (Loss) | $ 1,000,000 | $ 1,300,000 | |||
Deferred Income Taxes and Other Liabilities, Noncurrent | $ 369,000 | 369,000 | 481,000 | ||
US Government Securities, at Carrying Value | 36,100,000 | $ 36,100,000 | $ 85,100,000 | ||
Trading Securities, Description | At June 30, 2015, the Company had six AFS securities with an unrealized loss for twelve or more consecutive months. Six U.S. government agency GSEs had unrealized losses for more than twelve months totaling $176,000 at June 30, 2015. Two U.S. government agency GSE, five mortgage-backed GSEs, and two municipal bonds had unrealized losses for less than twelve months totaling $118,000 at June 30, 2015. | At December 31, 2014, the Company had thirteen AFS securities with an unrealized loss for twelve or more consecutive months. Eight U.S. government agency GSE’s, one municipal and four mortgage-backed GSE’s had unrealized losses for more than twelve months totaling $359,000 at December 31, 2014. Two U.S. government agency GSE’s and one mortgage-backed GSE bonds had unrealized losses for less than twelve months totaling $52,000 at December 31, 2014. | |||
Gain (Loss) on Sale of Securities, Net | $ 134,000 | $ 0 | $ 219,000 | $ 0 | $ 46,000 |
Proceeds from Sale of Available-for-sale Securities, Total | $ 5,640,000 | $ 550,000 |
LOANS (Details)
LOANS (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 573,729 | $ 552,038 | [1] | $ 334,497 | |||
Allowance for loan losses | (6,842) | (6,844) | [1] | (6,447) | $ (7,025) | $ (7,054) | |
Total loans, net | 566,887 | 545,194 | [1] | ||||
Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | 574,450 | 552,677 | |||||
Deferred loan (fees) cost, net | (721) | (639) | |||||
Loans | 573,729 | 552,038 | |||||
Allowance for loan losses | (6,842) | $ (6,919) | (6,844) | ||||
Total loans, net | $ 566,887 | $ 545,194 | |||||
Percentage of Deferred Origination Fees | (0.13%) | (0.12%) | |||||
Percent of Loans | 100.00% | 100.00% | |||||
Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 23,454 | $ 27,035 | |||||
Deferred loan (fees) cost, net | 0 | 0 | |||||
Loans | 23,454 | 27,035 | |||||
Allowance for loan losses | 68 | 0 | 0 | ||||
Total loans, net | $ 23,386 | $ 27,035 | |||||
Percentage of Deferred Origination Fees | 0.00% | 0.00% | |||||
Percent of Loans | 100.00% | 100.00% | |||||
Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 550,996 | $ 525,642 | |||||
Deferred loan (fees) cost, net | (721) | (639) | |||||
Loans | 550,275 | 525,003 | |||||
Allowance for loan losses | (6,774) | (6,919) | (6,844) | ||||
Total loans, net | $ 543,501 | $ 518,159 | |||||
Percentage of Deferred Origination Fees | (0.13%) | (0.12%) | |||||
Percent of Loans | 100.00% | 100.00% | |||||
Family Residential Real Estate 1 to 4 [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 85,926 | 30,669 | |||||
Allowance for loan losses | (588) | (585) | (826) | ||||
Family Residential Real Estate 1 to 4 [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 85,926 | $ 90,903 | |||||
Allowance for loan losses | $ (602) | (606) | $ (630) | ||||
Percent of Loans | 14.98% | 16.47% | |||||
Family Residential Real Estate 1 to 4 [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 8,916 | $ 9,972 | |||||
Allowance for loan losses | $ 0 | 0 | $ 0 | ||||
Percent of Loans | 38.02% | 36.89% | |||||
Family Residential Real Estate 1 to 4 [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 77,010 | $ 80,931 | |||||
Loans | 77,010 | 80,931 | |||||
Allowance for loan losses | $ (602) | (606) | $ (630) | ||||
Percent of Loans | 13.99% | 15.42% | |||||
Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 236,471 | 156,971 | |||||
Allowance for loan losses | (2,903) | (3,283) | (4,599) | ||||
Commercial Real Estate [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 236,471 | $ 233,630 | |||||
Allowance for loan losses | $ (2,630) | (2,845) | $ (2,914) | ||||
Percent of Loans | 41.22% | 42.32% | |||||
Commercial Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 11,392 | $ 11,903 | |||||
Allowance for loan losses | $ (57) | 0 | $ 0 | ||||
Percent of Loans | 48.57% | 44.03% | |||||
Commercial Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 225,079 | $ 221,727 | |||||
Loans | 225,079 | 221,727 | |||||
Allowance for loan losses | $ (2,573) | (2,845) | $ (2,914) | ||||
Percent of Loans | 40.90% | 42.23% | |||||
Multi Family Residential Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 41,852 | 18,436 | |||||
Allowance for loan losses | (266) | (291) | (74) | ||||
Multi Family Residential Real Estate [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 41,852 | $ 42,224 | |||||
Allowance for loan losses | $ (294) | (259) | $ (279) | ||||
Percent of Loans | 7.29% | 7.65% | |||||
Multi Family Residential Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 863 | $ 2,724 | |||||
Allowance for loan losses | $ (2) | 0 | $ 0 | ||||
Percent of Loans | 3.68% | 10.08% | |||||
Multi Family Residential Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 40,989 | $ 39,500 | |||||
Loans | 40,989 | 39,500 | |||||
Allowance for loan losses | $ (292) | (259) | $ (279) | ||||
Percent of Loans | 7.45% | 7.52% | |||||
Construction Loans Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 96,033 | 60,541 | |||||
Allowance for loan losses | (1,002) | (889) | (565) | ||||
Construction Loans Real Estate [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 96,033 | $ 83,593 | |||||
Allowance for loan losses | $ (1,313) | (1,209) | $ (1,103) | ||||
Percent of Loans | 16.74% | 15.14% | |||||
Construction Loans Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 1,443 | $ 1,463 | |||||
Allowance for loan losses | $ 0 | 0 | $ 0 | ||||
Percent of Loans | 6.15% | 5.41% | |||||
Construction Loans Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 94,590 | $ 82,130 | |||||
Loans | 94,590 | 82,130 | |||||
Allowance for loan losses | $ (1,313) | (1,209) | $ (1,103) | ||||
Percent of Loans | 17.19% | 15.64% | |||||
Home Equity Line of Credit [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 37,722 | 30,561 | |||||
Allowance for loan losses | (1,009) | (1,293) | (680) | ||||
Home Equity Line of Credit [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 37,722 | $ 38,093 | |||||
Allowance for loan losses | $ (773) | (851) | $ (930) | ||||
Percent of Loans | 6.57% | 6.90% | |||||
Home Equity Line of Credit [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 190 | $ 188 | |||||
Allowance for loan losses | $ (9) | 0 | $ 0 | ||||
Percent of Loans | 0.81% | 0.69% | |||||
Home Equity Line of Credit [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 37,532 | $ 37,905 | |||||
Loans | 37,532 | 37,905 | |||||
Allowance for loan losses | $ (764) | (851) | $ (930) | ||||
Percent of Loans | 6.82% | 7.22% | |||||
Real Estate [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 498,004 | $ 488,443 | |||||
Percent of Loans | 86.80% | 88.48% | |||||
Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 22,804 | $ 26,250 | |||||
Percent of Loans | 97.23% | 97.10% | |||||
Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 475,200 | $ 462,193 | |||||
Percent of Loans | 86.35% | 88.03% | |||||
Commercial and Industrial Other [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 70,404 | 31,660 | |||||
Allowance for loan losses | $ (523) | $ (513) | $ (245) | ||||
Commercial and Industrial Other [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | 70,404 | $ 58,217 | |||||
Allowance for loan losses | $ (1,077) | (982) | $ (803) | ||||
Percent of Loans | 12.27% | 10.55% | |||||
Commercial and Industrial Other [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 528 | $ 657 | |||||
Allowance for loan losses | $ 0 | 0 | $ 0 | ||||
Percent of Loans | 2.25% | 2.43% | |||||
Commercial and Industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 69,876 | $ 57,560 | |||||
Loans | 69,876 | 57,560 | |||||
Allowance for loan losses | $ (1,077) | $ (982) | $ (803) | ||||
Percent of Loans | 12.70% | 10.97% | |||||
Loans to Individuals [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 5,947 | $ 5,953 | |||||
Percent of Loans | 1.04% | 1.08% | |||||
Loans to Individuals [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 122 | $ 128 | |||||
Percent of Loans | 0.52% | 0.47% | |||||
Loans to Individuals [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 5,825 | $ 5,825 | |||||
Percent of Loans | 1.06% | 1.11% | |||||
Overdrafts [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 95 | $ 64 | |||||
Percent of Loans | 0.02% | 0.01% | |||||
Overdrafts [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 0 | $ 0 | |||||
Percent of Loans | 0.00% | 0.00% | |||||
Overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 95 | $ 64 | |||||
Percent of Loans | 0.02% | 0.01% | |||||
Other Loans [Member] | Total Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 76,446 | $ 64,234 | |||||
Percent of Loans | 13.33% | 11.64% | |||||
Other Loans [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans | $ 650 | $ 785 | |||||
Percent of Loans | 2.77% | 2.90% | |||||
Other Loans [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Gross loans | $ 75,796 | $ 63,449 | |||||
Percent of Loans | 13.78% | 12.09% | |||||
[1] | Derived from audited consolidated financial statements. |
LOANS (Details 1)
LOANS (Details 1) - USD ($) $ in Thousands | Jun. 30, 2015 | Jul. 25, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Contractually required payments | $ 28,234 | $ 34,329 |
Nonaccretable difference | 1,460 | 1,402 |
Cash flows expected to be collected | 26,774 | 32,927 |
Accretable yield | 3,320 | 4,360 |
Fair value | $ 23,454 | $ 28,567 |
LOANS (Details 2)
LOANS (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | $ 573,729 | $ 552,038 | [1] | $ 334,497 |
Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 7,994 | 6,938 | ||
Total Past DueTotal Past DueTotal Past Due | 9,812 | 11,956 | ||
Current | 564,638 | 540,721 | ||
Deferred loan (fees) cost, net | (721) | (639) | ||
Total Loans | 573,729 | 552,038 | ||
Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 1,818 | 5,018 | ||
Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 280 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 1,270 | 847 | ||
Current | 22,184 | 26,188 | ||
Deferred loan (fees) cost, net | 0 | 0 | ||
Total Loans | 23,454 | 27,035 | ||
Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 990 | 847 | ||
Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 7,714 | 6,938 | ||
Total Past DueTotal Past DueTotal Past Due | 8,542 | 11,109 | ||
Current | 542,454 | 514,533 | ||
Deferred loan (fees) cost, net | (721) | (639) | ||
Total Loans | 550,275 | 525,003 | ||
Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 828 | 4,171 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 70,404 | 31,660 | ||
Commercial and Industrial [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 405 | 632 | ||
Total Past DueTotal Past DueTotal Past Due | 535 | 773 | ||
Current | 69,869 | 57,444 | ||
Total Loans | 70,404 | 58,217 | ||
Commercial and Industrial [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 130 | 141 | ||
Commercial and Industrial [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 0 | 2 | ||
Current | 528 | 655 | ||
Total Loans | 528 | 657 | ||
Commercial and Industrial [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 2 | ||
Commercial and Industrial [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 405 | 632 | ||
Total Past DueTotal Past DueTotal Past Due | 535 | 771 | ||
Current | 69,341 | 56,789 | ||
Total Loans | 69,876 | 57,560 | ||
Commercial and Industrial [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 130 | 139 | ||
Construction Loans Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 96,033 | 60,541 | ||
Construction Loans Real Estate [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 199 | 816 | ||
Total Past DueTotal Past DueTotal Past Due | 199 | 816 | ||
Current | 95,834 | 82,777 | ||
Total Loans | 96,033 | 83,593 | ||
Construction Loans Real Estate [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Construction Loans Real Estate [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Current | 1,443 | 1,463 | ||
Total Loans | 1,443 | 1,463 | ||
Construction Loans Real Estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Construction Loans Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 199 | 816 | ||
Total Past DueTotal Past DueTotal Past Due | 199 | 816 | ||
Current | 94,391 | 81,314 | ||
Total Loans | 94,590 | 82,130 | ||
Construction Loans Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 41,852 | 18,436 | ||
Multi Family Residential Real Estate [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 901 | ||
Total Past DueTotal Past DueTotal Past Due | 437 | 901 | ||
Current | 41,415 | 41,323 | ||
Total Loans | 41,852 | 42,224 | ||
Multi Family Residential Real Estate [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 437 | 0 | ||
Multi Family Residential Real Estate [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 437 | 0 | ||
Current | 426 | 2,724 | ||
Total Loans | 863 | 2,724 | ||
Multi Family Residential Real Estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 437 | 0 | ||
Multi Family Residential Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 901 | ||
Total Past DueTotal Past DueTotal Past Due | 0 | 901 | ||
Current | 40,989 | 38,599 | ||
Total Loans | 40,989 | 39,500 | ||
Multi Family Residential Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 236,471 | 156,971 | ||
Commercial Real Estate [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 770 | 2,576 | ||
Total Past DueTotal Past DueTotal Past Due | 1,605 | 5,953 | ||
Current | 234,866 | 227,677 | ||
Total Loans | 236,471 | 233,630 | ||
Commercial Real Estate [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 835 | 3,377 | ||
Commercial Real Estate [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 553 | 562 | ||
Current | 10,839 | 11,341 | ||
Total Loans | 11,392 | 11,903 | ||
Commercial Real Estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 553 | 562 | ||
Commercial Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 770 | 2,576 | ||
Total Past DueTotal Past DueTotal Past Due | 1,052 | 5,391 | ||
Current | 224,027 | 216,336 | ||
Total Loans | 225,079 | 221,727 | ||
Commercial Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 282 | 2,815 | ||
Loans to Individuals and Overdrafts [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 6,042 | 5,659 | ||
Loans to Individuals and Overdrafts [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 1 | 22 | ||
Current | 6,041 | 5,995 | ||
Total Loans | 6,042 | 6,017 | ||
Loans to Individuals and Overdrafts [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 1 | 22 | ||
Loans to Individuals and Overdrafts [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Current | 122 | 128 | ||
Total Loans | 122 | 128 | ||
Loans to Individuals and Overdrafts [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Loans to Individuals and Overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 1 | 22 | ||
Current | 5,919 | 5,867 | ||
Total Loans | 5,920 | 5,889 | ||
Loans to Individuals and Overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 1 | 22 | ||
Family Residential Real Estate 1 to 4 [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 85,926 | 30,669 | ||
Family Residential Real Estate 1 to 4 [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 6,218 | 1,160 | ||
Total Past DueTotal Past DueTotal Past Due | 6,598 | 2,624 | ||
Current | 79,328 | 88,279 | ||
Total Loans | 85,926 | 90,903 | ||
Family Residential Real Estate 1 to 4 [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 380 | 1,464 | ||
Family Residential Real Estate 1 to 4 [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 280 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 280 | 283 | ||
Current | 8,636 | 9,689 | ||
Total Loans | 8,916 | 9,972 | ||
Family Residential Real Estate 1 to 4 [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 283 | ||
Family Residential Real Estate 1 to 4 [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 5,938 | 1,160 | ||
Total Past DueTotal Past DueTotal Past Due | 6,318 | 2,341 | ||
Current | 70,692 | 78,590 | ||
Total Loans | 77,010 | 80,931 | ||
Family Residential Real Estate 1 to 4 [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 380 | 1,181 | ||
Home Equity Line of Credit [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Loans | 37,722 | $ 30,561 | ||
Home Equity Line of Credit [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 402 | 853 | ||
Total Past DueTotal Past DueTotal Past Due | 437 | 867 | ||
Current | 37,285 | 37,226 | ||
Total Loans | 37,722 | 38,093 | ||
Home Equity Line of Credit [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 35 | 14 | ||
Home Equity Line of Credit [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 0 | 0 | ||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Current | 190 | 188 | ||
Total Loans | 190 | 188 | ||
Home Equity Line of Credit [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | 0 | 0 | ||
Home Equity Line of Credit [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Non-Accrual Loans | 402 | 853 | ||
Total Past DueTotal Past DueTotal Past Due | 437 | 867 | ||
Current | 37,095 | 37,038 | ||
Total Loans | 37,532 | 37,905 | ||
Home Equity Line of Credit [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past DueTotal Past DueTotal Past Due | $ 35 | $ 14 | ||
[1] | Derived from audited consolidated financial statements. |
LOANS (Details 3)
LOANS (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | $ 8,327 | $ 8,327 | $ 9,600 | ||
With no related allowance, Contractual Unpaid Principal Balance | 10,213 | 10,213 | 11,574 | ||
With no related allowance, Average Recorded Investment | 9,064 | $ 10,658 | 8,963 | $ 11,684 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 123 | 132 | 276 | 315 | |
With an related allowance, Recorded Investment | 5,380 | 5,380 | 6,044 | ||
With an related allowance, Contractual Unpaid Principal Balance | 6,555 | 6,555 | 7,177 | ||
Related Allowance | 554 | 554 | 687 | ||
With an related allowance, Average Recorded Investment | 5,396 | 4,105 | 5,712 | 5,768 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 26 | 48 | 92 | 71 | |
Recorded Investment Total | 13,707 | 13,707 | 15,644 | ||
Contractual Unpaid Principal Balance Total | 16,768 | 16,768 | 18,751 | ||
Average Recorded Investment Total | 14,460 | 14,763 | 14,675 | 17,452 | |
Interest Income Recognized on impaired Loans Total | 149 | 180 | 368 | 386 | |
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Related Allowance | 174 | 174 | 124 | ||
Recorded Investment Total | 3,875 | 3,875 | 3,672 | ||
Contractual Unpaid Principal Balance Total | 4,759 | 4,759 | 4,499 | ||
Average Recorded Investment Total | 3,909 | 4,097 | 3,774 | 4,719 | |
Interest Income Recognized on impaired Loans Total | 43 | 54 | 89 | 114 | |
Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Related Allowance | 380 | 380 | 563 | ||
Recorded Investment Total | 9,832 | 9,832 | 11,972 | ||
Contractual Unpaid Principal Balance Total | 12,009 | 12,009 | 14,250 | ||
Average Recorded Investment Total | 10,551 | 10,654 | 10,901 | 12,733 | |
Interest Income Recognized on impaired Loans Total | 106 | 126 | 279 | 269 | |
Consumer Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Related Allowance | 0 | 0 | 0 | ||
Recorded Investment Total | 0 | 0 | 0 | ||
Contractual Unpaid Principal Balance Total | 0 | 0 | 2 | ||
Average Recorded Investment Total | 0 | 12 | 0 | 0 | |
Interest Income Recognized on impaired Loans Total | 0 | 0 | 0 | 3 | |
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 518 | 518 | 478 | ||
With no related allowance, Contractual Unpaid Principal Balance | 923 | 923 | 478 | ||
With no related allowance, Average Recorded Investment | 640 | 124 | 606 | 159 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 6 | 2 | 38 | 5 | |
With an related allowance, Recorded Investment | 11 | 11 | 265 | ||
With an related allowance, Contractual Unpaid Principal Balance | 12 | 12 | 267 | ||
Related Allowance | 3 | 3 | 64 | ||
With an related allowance, Average Recorded Investment | 11 | 265 | 138 | 266 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 0 | 0 | 0 | 0 | |
Construction Loans Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 891 | 891 | 1,300 | ||
With no related allowance, Contractual Unpaid Principal Balance | 1,120 | 1,120 | 1,525 | ||
With no related allowance, Average Recorded Investment | 973 | 1,706 | 1,095 | 1,846 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 10 | 20 | 23 | 43 | |
With an related allowance, Recorded Investment | 165 | 165 | 167 | ||
With an related allowance, Contractual Unpaid Principal Balance | 168 | 168 | 168 | ||
Related Allowance | 78 | 78 | 80 | ||
With an related allowance, Average Recorded Investment | 166 | 168 | 166 | 248 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 1 | 0 | 2 | 0 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 2,501 | 2,501 | 2,652 | ||
With no related allowance, Contractual Unpaid Principal Balance | 2,947 | 2,947 | 3,536 | ||
With no related allowance, Average Recorded Investment | 2,556 | 3,363 | 2,468 | 3,639 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 49 | 37 | 93 | 106 | |
With an related allowance, Recorded Investment | 4,409 | 4,409 | 4,878 | ||
With an related allowance, Contractual Unpaid Principal Balance | 5,336 | 5,336 | 5,761 | ||
Related Allowance | 299 | 299 | 419 | ||
With an related allowance, Average Recorded Investment | 4,436 | 2,693 | 4,643 | 4,216 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 19 | 31 | 80 | 41 | |
Loans to Individuals and Overdrafts [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 0 | 0 | 0 | ||
With no related allowance, Contractual Unpaid Principal Balance | 0 | 0 | 2 | ||
With no related allowance, Average Recorded Investment | 0 | 2 | 0 | 0 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 0 | 0 | 0 | 2 | |
With an related allowance, Recorded Investment | 0 | 0 | 0 | ||
With an related allowance, Contractual Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
With an related allowance, Average Recorded Investment | 0 | 10 | 0 | 0 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 0 | 0 | 0 | 1 | |
Multi Family Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 1,337 | 1,337 | 2,232 | ||
With no related allowance, Contractual Unpaid Principal Balance | 1,503 | 1,503 | 2,515 | ||
With no related allowance, Average Recorded Investment | 1,769 | 2,335 | 1,785 | 2,359 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 21 | 36 | 43 | 74 | |
With an related allowance, Recorded Investment | 0 | 0 | 0 | ||
With an related allowance, Contractual Unpaid Principal Balance | 0 | 0 | 0 | ||
Related Allowance | 0 | 0 | 0 | ||
With an related allowance, Average Recorded Investment | 0 | 0 | 0 | 0 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 0 | 0 | 0 | 0 | |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 646 | 646 | 637 | ||
With no related allowance, Contractual Unpaid Principal Balance | 795 | 795 | 768 | ||
With no related allowance, Average Recorded Investment | 641 | 707 | 641 | 713 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 9 | 12 | 20 | 21 | |
With an related allowance, Recorded Investment | 293 | 293 | 284 | ||
With an related allowance, Contractual Unpaid Principal Balance | 535 | 535 | 526 | ||
Related Allowance | 108 | 108 | 50 | ||
With an related allowance, Average Recorded Investment | 288 | 473 | 289 | 477 | |
With an related allowance, Interest Income Recognized on Impaired Loans | 0 | 4 | 0 | 9 | |
Family Residential Real Estate 1 to 4 [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With no related allowance, Recorded Investment | 2,434 | 2,434 | 2,301 | ||
With no related allowance, Contractual Unpaid Principal Balance | 2,925 | 2,925 | 2,750 | ||
With no related allowance, Average Recorded Investment | 2,485 | 2,421 | 2,368 | 2,968 | |
With no related allowance, Interest Income Recognized on Impaired Loans | 28 | 25 | 59 | 64 | |
With an related allowance, Recorded Investment | 502 | 502 | 450 | ||
With an related allowance, Contractual Unpaid Principal Balance | 504 | 504 | 455 | ||
Related Allowance | 66 | 66 | $ 74 | ||
With an related allowance, Average Recorded Investment | 495 | 496 | 476 | 561 | |
With an related allowance, Interest Income Recognized on Impaired Loans | $ 6 | $ 13 | $ 10 | $ 20 |
LOANS (Details 4)
LOANS (Details 4) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($)Loans | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($)Loans | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | Loans | 2 | 3 | ||||
Pre-Modification Outstanding Recorded Investment | $ 993 | $ 1,015 | ||||
Post-Modification Outstanding Recorded Investment | 984 | 1,006 | ||||
Number of loans | 1 | 9 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 140 | $ 2,314 | $ 140 | $ 2,314 | $ 140 | $ 2,314 |
Residential 1 to 4 Family Below Market Interest Rate [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | 0 | 0 | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 22 | $ 22 | ||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 22 | 22 | ||
Number of loans | 0 | 4 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 0 | $ 298 | $ 0 | $ 298 | $ 0 | $ 298 |
Below Market Interest Rate [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | 0 | 0 | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 22 | $ 22 | ||
Post-Modification Outstanding Recorded Investment | 0 | 0 | 22 | 22 | ||
Number of loans | 0 | 4 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 298 | 0 | 298 | $ 0 | $ 298 |
Construction Extended Payment Term [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | 0 | 1 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | $ 68 | 0 | $ 68 | $ 0 | $ 68 |
Commercial Real Estate Extended Payment Term [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | Loans | 1 | 1 | ||||
Pre-Modification Outstanding Recorded Investment | $ 46 | $ 46 | ||||
Post-Modification Outstanding Recorded Investment | 42 | 42 | ||||
Number of loans | 1 | 1 | ||||
Financing Receivable, Modifications, Recorded Investment | 140 | $ 947 | 140 | $ 947 | $ 140 | $ 947 |
Residential 1 to 4 Family Extended Payment Term [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | Loans | 1 | 1 | ||||
Pre-Modification Outstanding Recorded Investment | $ 947 | $ 947 | ||||
Post-Modification Outstanding Recorded Investment | 942 | 942 | ||||
Number of loans | 0 | 2 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | $ 933 | 0 | $ 933 | $ 0 | $ 933 |
Extended Payment Term [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | Loans | 2 | 2 | ||||
Pre-Modification Outstanding Recorded Investment | $ 993 | $ 993 | ||||
Post-Modification Outstanding Recorded Investment | 984 | 984 | ||||
Number of loans | 1 | 3 | ||||
Financing Receivable, Modifications, Recorded Investment | 140 | 1,880 | 140 | 1,880 | $ 140 | $ 1,880 |
Residential 1 to 4 Family Other [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | 0 | 1 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 68 | 0 | 68 | $ 0 | $ 68 |
Other [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Number of loans | 0 | 2 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 0 | $ 136 | $ 0 | $ 136 | $ 0 | $ 136 |
LOANS (Details 5)
LOANS (Details 5) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | $ 573,729 | $ 552,038 | [1] | $ 334,497 |
Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 573,729 | 552,038 | ||
Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 23,454 | 27,035 | ||
Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 550,275 | 525,003 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 70,404 | 31,660 | ||
Commercial and Industrial [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 70,404 | 58,217 | ||
Commercial and Industrial [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 528 | 657 | ||
Commercial and Industrial [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 69,876 | 57,560 | ||
Commercial and Industrial [Member] | Superior [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 982 | 1,241 | ||
Commercial and Industrial [Member] | Superior [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Superior [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 982 | 1,241 | ||
Commercial and Industrial [Member] | Very Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,128 | 1,110 | ||
Commercial and Industrial [Member] | Very Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Very Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,128 | 1,110 | ||
Commercial and Industrial [Member] | Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,723 | 5,282 | ||
Commercial and Industrial [Member] | Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,723 | 5,282 | ||
Commercial and Industrial [Member] | Acceptable [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 29,447 | 26,132 | ||
Commercial and Industrial [Member] | Acceptable [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Acceptable [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 29,447 | 26,132 | ||
Commercial and Industrial [Member] | Acceptable With Care [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 32,624 | 23,404 | ||
Commercial and Industrial [Member] | Acceptable With Care [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 488 | 602 | ||
Commercial and Industrial [Member] | Acceptable With Care [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 32,136 | 22,802 | ||
Commercial and Industrial [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 70 | 221 | ||
Commercial and Industrial [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 70 | 221 | ||
Commercial and Industrial [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 430 | 827 | ||
Commercial and Industrial [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 40 | 55 | ||
Commercial and Industrial [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 390 | 772 | ||
Commercial and Industrial [Member] | Doubtful [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Doubtful [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Doubtful [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Loss [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Loss [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial and Industrial [Member] | Loss [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 96,033 | |||
Construction Loans [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,443 | |||
Construction Loans [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 94,590 | 82,130 | ||
Construction Loans [Member] | Superior [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Superior [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Superior [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Very Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Very Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Very Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 3,518 | 2,705 | ||
Construction Loans [Member] | Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 3,518 | 2,705 | ||
Construction Loans [Member] | Acceptable [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 14,820 | 13,579 | ||
Construction Loans [Member] | Acceptable [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Acceptable [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 14,820 | 13,579 | ||
Construction Loans [Member] | Acceptable With Care [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 75,869 | 65,717 | ||
Construction Loans [Member] | Acceptable With Care [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,379 | 1,397 | ||
Construction Loans [Member] | Acceptable With Care [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 74,490 | 64,320 | ||
Construction Loans [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 872 | 384 | ||
Construction Loans [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 64 | 66 | ||
Construction Loans [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 808 | 318 | ||
Construction Loans [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 954 | 1,208 | ||
Construction Loans [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 954 | 1,208 | ||
Construction Loans [Member] | Doubtful [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Doubtful [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Doubtful [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Loss [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Loss [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Construction Loans [Member] | Loss [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 236,471 | 156,971 | ||
Commercial Real Estate [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 236,471 | 233,630 | ||
Commercial Real Estate [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 11,392 | 11,903 | ||
Commercial Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 225,079 | 221,727 | ||
Commercial Real Estate [Member] | Superior [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Superior [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Superior [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Very Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Very Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Very Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 16,425 | 15,276 | ||
Commercial Real Estate [Member] | Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 16,425 | 15,276 | ||
Commercial Real Estate [Member] | Acceptable [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 128,889 | 128,056 | ||
Commercial Real Estate [Member] | Acceptable [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Acceptable [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 128,889 | 128,056 | ||
Commercial Real Estate [Member] | Acceptable With Care [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 75,160 | 75,554 | ||
Commercial Real Estate [Member] | Acceptable With Care [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 8,909 | 9,368 | ||
Commercial Real Estate [Member] | Acceptable With Care [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 66,251 | 66,186 | ||
Commercial Real Estate [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 9,550 | 8,036 | ||
Commercial Real Estate [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,931 | 1,973 | ||
Commercial Real Estate [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 7,619 | 6,063 | ||
Commercial Real Estate [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 6,447 | 6,708 | ||
Commercial Real Estate [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 552 | 562 | ||
Commercial Real Estate [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,895 | 6,146 | ||
Commercial Real Estate [Member] | Doubtful [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Doubtful [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Doubtful [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Loss [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Loss [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Commercial Real Estate [Member] | Loss [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 41,852 | 18,436 | ||
Multi Family Residential Real Estate [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 41,852 | 42,224 | ||
Multi Family Residential Real Estate [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 863 | 2,724 | ||
Multi Family Residential Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 40,989 | 39,500 | ||
Multi Family Residential Real Estate [Member] | Superior [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Superior [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Superior [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Very Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Very Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Very Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Good [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Good [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Good [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Acceptable [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 30,967 | 31,619 | ||
Multi Family Residential Real Estate [Member] | Acceptable [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Acceptable [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 30,967 | 31,619 | ||
Multi Family Residential Real Estate [Member] | Acceptable With Care [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 8,831 | 8,374 | ||
Multi Family Residential Real Estate [Member] | Acceptable With Care [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 863 | 2,724 | ||
Multi Family Residential Real Estate [Member] | Acceptable With Care [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 7,968 | 5,650 | ||
Multi Family Residential Real Estate [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 1,330 | ||
Multi Family Residential Real Estate [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 1,330 | ||
Multi Family Residential Real Estate [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 2,054 | 901 | ||
Multi Family Residential Real Estate [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 2,054 | 901 | ||
Multi Family Residential Real Estate [Member] | Doubtful [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Doubtful [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Doubtful [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Loss [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Loss [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Multi Family Residential Real Estate [Member] | Loss [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | 0 | ||
Loans to Individuals and Overdrafts [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 6,042 | 5,659 | ||
Loans to Individuals and Overdrafts [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 6,042 | 6,017 | ||
Loans to Individuals and Overdrafts [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 122 | 128 | ||
Loans to Individuals and Overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,920 | 5,889 | ||
Loans to Individuals and Overdrafts [Member] | Pass [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 6,020 | 5,969 | ||
Loans to Individuals and Overdrafts [Member] | Pass [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 113 | 117 | ||
Loans to Individuals and Overdrafts [Member] | Pass [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,907 | 5,852 | ||
Loans to Individuals and Overdrafts [Member] | Non-Pass [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 22 | 48 | ||
Loans to Individuals and Overdrafts [Member] | Non-Pass [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 9 | 11 | ||
Loans to Individuals and Overdrafts [Member] | Non-Pass [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 13 | 37 | ||
Family Residential Real Estate 1 to 4 [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 85,926 | 30,669 | ||
Family Residential Real Estate 1 to 4 [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 85,926 | 90,903 | ||
Family Residential Real Estate 1 to 4 [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 8,916 | 9,972 | ||
Family Residential Real Estate 1 to 4 [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 77,010 | 80,931 | ||
Family Residential Real Estate 1 to 4 [Member] | Pass [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 78,267 | 82,794 | ||
Family Residential Real Estate 1 to 4 [Member] | Pass [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 5,337 | |||
Family Residential Real Estate 1 to 4 [Member] | Pass [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 72,930 | 76,357 | ||
Family Residential Real Estate 1 to 4 [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 3,795 | 3,978 | ||
Family Residential Real Estate 1 to 4 [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 2,980 | |||
Family Residential Real Estate 1 to 4 [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 815 | 1,052 | ||
Family Residential Real Estate 1 to 4 [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 3,864 | 4,131 | ||
Family Residential Real Estate 1 to 4 [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 599 | |||
Family Residential Real Estate 1 to 4 [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 3,265 | 3,522 | ||
Home Equity Line Of Credit [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 37,722 | $ 30,561 | ||
Home Equity Line Of Credit [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 37,722 | 38,093 | ||
Home Equity Line Of Credit [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 190 | 188 | ||
Home Equity Line Of Credit [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 37,532 | 37,905 | ||
Home Equity Line Of Credit [Member] | Pass [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 36,192 | 36,357 | ||
Home Equity Line Of Credit [Member] | Pass [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 190 | |||
Home Equity Line Of Credit [Member] | Pass [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 36,002 | 36,169 | ||
Home Equity Line Of Credit [Member] | Special Mention [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 471 | 695 | ||
Home Equity Line Of Credit [Member] | Special Mention [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | |||
Home Equity Line Of Credit [Member] | Special Mention [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 471 | 695 | ||
Home Equity Line Of Credit [Member] | Substandard [Member] | Total Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 1,059 | 1,041 | ||
Home Equity Line Of Credit [Member] | Substandard [Member] | Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | 0 | |||
Home Equity Line Of Credit [Member] | Substandard [Member] | Excluding Purchase Credit Impairment Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans | $ 1,059 | $ 1,041 | ||
[1] | Derived from audited consolidated financial statements. |
LOANS (Details 6)
LOANS (Details 6) - Jun. 30, 2015 - USD ($) $ in Thousands | Total | Total |
Schedule Of Certain Loans Acquired In Transfer Accounted For As Debt Securities Accretable Yield [Line Items] | ||
Accretable yield, beginning of period | $ 3,434 | $ 3,762 |
Accretion | (321) | (649) |
Reclassification from (to) nonaccretable difference | 95 | 95 |
Other changes, net | 112 | 112 |
Accretable yield, end of period | $ 3,320 | $ 3,320 |
LOANS (Details 7)
LOANS (Details 7) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | $ 7,025 | $ 6,844 | [1] | $ 7,054 | |||
Provision for loan losses | (427) | (476) | |||||
Loans charged-off | (244) | (354) | |||||
Recoveries | 93 | 223 | |||||
Allowance for loan losses, Balance, end of period | $ 6,842 | 6,447 | 6,842 | 6,447 | |||
Ending Balance: individually evaluated for impairment | 554 | 776 | 554 | 776 | |||
Ending Balance: collectively evaluated for impairment | 6,288 | 5,671 | 6,288 | 5,671 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 560,734 | 319,961 | 560,734 | 319,961 | |||
Ending balance: individually evaluated for impairment | 13,707 | 14,536 | 13,707 | 14,536 | |||
Ending balance | 573,729 | 334,497 | 573,729 | 334,497 | $ 552,038 | [1] | |
Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 68 | 68 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | (68) | (68) | |||||
Loans | |||||||
Ending balance | 23,454 | 23,454 | 27,035 | ||||
Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 6,919 | 6,844 | |||||
Provision for loan losses | (207) | (77) | |||||
Loans charged-off | (146) | (239) | |||||
Recoveries | 208 | 246 | |||||
Allowance for loan losses, Balance, end of period | 6,774 | 6,774 | |||||
Loans | |||||||
Ending balance | 550,275 | 550,275 | 525,003 | ||||
Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 6,919 | 6,844 | |||||
Provision for loan losses | (139) | (9) | |||||
Loans charged-off | (146) | (239) | |||||
Recoveries | 208 | 246 | |||||
Allowance for loan losses, Balance, end of period | 6,842 | 6,842 | |||||
Loans | |||||||
Ending balance | 573,729 | 573,729 | 552,038 | ||||
Commercial and Industrial [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 513 | 245 | |||||
Provision for loan losses | (4) | 318 | |||||
Loans charged-off | 0 | (63) | |||||
Recoveries | 14 | 23 | |||||
Allowance for loan losses, Balance, end of period | 523 | 523 | |||||
Ending Balance: individually evaluated for impairment | 3 | 66 | 3 | 66 | |||
Ending Balance: collectively evaluated for impairment | 1,074 | 457 | 1,074 | 457 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 69,875 | 31,272 | 69,875 | 31,272 | |||
Ending balance: individually evaluated for impairment | 529 | 388 | 529 | 388 | |||
Ending balance | 70,404 | 31,660 | 70,404 | 31,660 | |||
Commercial and Industrial [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 0 | 0 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 0 | 0 | |||||
Loans | |||||||
Ending balance | 528 | 528 | 657 | ||||
Commercial and Industrial [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 982 | 803 | |||||
Provision for loan losses | 192 | 365 | |||||
Loans charged-off | (130) | (130) | |||||
Recoveries | 33 | 39 | |||||
Allowance for loan losses, Balance, end of period | 1,077 | 1,077 | |||||
Loans | |||||||
Ending balance | 69,876 | 69,876 | 57,560 | ||||
Commercial and Industrial [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 982 | 803 | |||||
Provision for loan losses | 192 | 365 | |||||
Loans charged-off | (130) | (130) | |||||
Recoveries | 33 | 39 | |||||
Allowance for loan losses, Balance, end of period | 1,077 | 1,077 | |||||
Loans | |||||||
Ending balance | 70,404 | 70,404 | 58,217 | ||||
Construction Loans Real Estate [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 889 | 565 | |||||
Provision for loan losses | 110 | 376 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 3 | 61 | |||||
Allowance for loan losses, Balance, end of period | 1,002 | 1,002 | |||||
Ending Balance: individually evaluated for impairment | 78 | 81 | 78 | 81 | |||
Ending Balance: collectively evaluated for impairment | 1,235 | 921 | 1,235 | 921 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 94,977 | 58,739 | 94,977 | 58,739 | |||
Ending balance: individually evaluated for impairment | 1,056 | 1,802 | 1,056 | 1,802 | |||
Ending balance | 96,033 | 60,541 | 96,033 | 60,541 | |||
Construction Loans Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 0 | 0 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 0 | 0 | |||||
Loans | |||||||
Ending balance | 1,443 | 1,443 | 1,463 | ||||
Construction Loans Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 1,209 | 1,103 | |||||
Provision for loan losses | 100 | 202 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 4 | 8 | |||||
Allowance for loan losses, Balance, end of period | 1,313 | 1,313 | |||||
Loans | |||||||
Ending balance | 94,590 | 94,590 | 82,130 | ||||
Construction Loans Real Estate [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 1,209 | 1,103 | |||||
Provision for loan losses | 100 | 202 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 4 | 8 | |||||
Allowance for loan losses, Balance, end of period | 1,313 | 1,313 | |||||
Loans | |||||||
Ending balance | 96,033 | 96,033 | 83,593 | ||||
Commercial Real Estate [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 3,283 | 4,599 | |||||
Provision for loan losses | (384) | (1,724) | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 4 | 28 | |||||
Allowance for loan losses, Balance, end of period | 2,903 | 2,903 | |||||
Ending Balance: individually evaluated for impairment | 299 | 426 | 299 | 426 | |||
Ending Balance: collectively evaluated for impairment | 2,331 | 2,477 | 2,331 | 2,477 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 229,561 | 150,985 | 229,561 | 150,985 | |||
Ending balance: individually evaluated for impairment | 6,910 | 5,986 | 6,910 | 5,986 | |||
Ending balance | 236,471 | 156,971 | 236,471 | 156,971 | |||
Commercial Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 57 | 57 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 57 | 57 | |||||
Loans | |||||||
Ending balance | 11,392 | 11,392 | 11,903 | ||||
Commercial Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 2,845 | 2,914 | |||||
Provision for loan losses | (283) | (323) | |||||
Loans charged-off | 0 | (29) | |||||
Recoveries | 11 | 11 | |||||
Allowance for loan losses, Balance, end of period | 2,573 | 2,573 | |||||
Loans | |||||||
Ending balance | 225,079 | 225,079 | 221,727 | ||||
Commercial Real Estate [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 2,845 | 2,914 | |||||
Provision for loan losses | (226) | (266) | |||||
Loans charged-off | 0 | (29) | |||||
Recoveries | 11 | 11 | |||||
Allowance for loan losses, Balance, end of period | 2,630 | 2,630 | |||||
Loans | |||||||
Ending balance | 236,471 | 236,471 | 233,630 | ||||
Family Residential Real Estate 1 to 4 [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 585 | 826 | |||||
Provision for loan losses | (9) | (274) | |||||
Loans charged-off | 0 | (1) | |||||
Recoveries | 12 | 37 | |||||
Allowance for loan losses, Balance, end of period | 588 | 588 | |||||
Ending Balance: individually evaluated for impairment | 66 | 43 | 66 | 43 | |||
Ending Balance: collectively evaluated for impairment | 536 | 545 | 536 | 545 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 82,990 | 27,721 | 82,990 | 27,721 | |||
Ending balance: individually evaluated for impairment | 2,936 | 2,948 | 2,936 | 2,948 | |||
Ending balance | 85,926 | 30,669 | 85,926 | 30,669 | |||
Family Residential Real Estate 1 to 4 [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 0 | 0 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 0 | 0 | |||||
Loans | |||||||
Ending balance | 8,916 | 8,916 | 9,972 | ||||
Family Residential Real Estate 1 to 4 [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 606 | 630 | |||||
Provision for loan losses | (45) | (85) | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 41 | 57 | |||||
Allowance for loan losses, Balance, end of period | 602 | 602 | |||||
Loans | |||||||
Ending balance | 77,010 | 77,010 | 80,931 | ||||
Family Residential Real Estate 1 to 4 [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 606 | 630 | |||||
Provision for loan losses | (45) | (85) | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 41 | 57 | |||||
Allowance for loan losses, Balance, end of period | 602 | 602 | |||||
Loans | |||||||
Ending balance | 85,926 | 85,926 | 90,903 | ||||
Home Equity Line of Credit [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 1,293 | 680 | |||||
Provision for loan losses | (106) | 539 | |||||
Loans charged-off | (231) | (271) | |||||
Recoveries | 53 | 61 | |||||
Allowance for loan losses, Balance, end of period | 1,009 | 1,009 | |||||
Ending Balance: individually evaluated for impairment | 108 | 140 | 108 | 140 | |||
Ending Balance: collectively evaluated for impairment | 665 | 869 | 665 | 869 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 36,783 | 29,502 | 36,783 | 29,502 | |||
Ending balance: individually evaluated for impairment | 939 | 1,059 | 939 | 1,059 | |||
Ending balance | 37,722 | 30,561 | 37,722 | 30,561 | |||
Home Equity Line of Credit [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 9 | 9 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 9 | 9 | |||||
Loans | |||||||
Ending balance | 190 | 190 | 188 | ||||
Home Equity Line of Credit [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 851 | 930 | |||||
Provision for loan losses | (96) | (137) | |||||
Loans charged-off | 0 | (40) | |||||
Recoveries | 9 | 11 | |||||
Allowance for loan losses, Balance, end of period | 764 | 764 | |||||
Loans | |||||||
Ending balance | 37,532 | 37,532 | 37,905 | ||||
Home Equity Line of Credit [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 851 | 930 | |||||
Provision for loan losses | (87) | (128) | |||||
Loans charged-off | 0 | (40) | |||||
Recoveries | 9 | 11 | |||||
Allowance for loan losses, Balance, end of period | 773 | 773 | |||||
Loans | |||||||
Ending balance | 37,722 | 37,722 | 38,093 | ||||
Loans to Individuals and Overdrafts [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 171 | 65 | |||||
Provision for loan losses | (9) | 97 | |||||
Loans charged-off | (13) | (19) | |||||
Recoveries | 7 | 13 | |||||
Allowance for loan losses, Balance, end of period | 156 | 156 | |||||
Ending Balance: individually evaluated for impairment | 0 | 20 | 0 | 20 | |||
Ending Balance: collectively evaluated for impairment | 153 | 136 | 153 | 136 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 6,042 | 5,637 | 6,042 | 5,637 | |||
Ending balance: individually evaluated for impairment | 0 | 22 | 0 | 22 | |||
Ending balance | 6,042 | 5,659 | 6,042 | 5,659 | |||
Loans to Individuals and Overdrafts [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 0 | 0 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 0 | 0 | |||||
Loans | |||||||
Ending balance | 122 | 122 | 128 | ||||
Loans to Individuals and Overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 167 | 185 | |||||
Provision for loan losses | (7) | (11) | |||||
Loans charged-off | (11) | (35) | |||||
Recoveries | 4 | 14 | |||||
Allowance for loan losses, Balance, end of period | 153 | 153 | |||||
Loans | |||||||
Ending balance | 5,920 | 5,920 | 5,889 | ||||
Loans to Individuals and Overdrafts [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 167 | 185 | |||||
Provision for loan losses | (7) | (11) | |||||
Loans charged-off | (11) | (35) | |||||
Recoveries | 4 | 14 | |||||
Allowance for loan losses, Balance, end of period | 153 | 153 | |||||
Loans | |||||||
Ending balance | 6,042 | 6,042 | 6,017 | ||||
Multi Family Residential Real Estate [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 291 | 74 | |||||
Provision for loan losses | (25) | 192 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 266 | 266 | |||||
Ending Balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | |||
Ending Balance: collectively evaluated for impairment | 294 | 266 | 294 | 266 | |||
Loans | |||||||
Ending balance: collectively evaluated for impairment | 40,515 | 16,105 | 40,515 | 16,105 | |||
Ending balance: individually evaluated for impairment | 1,337 | 2,331 | 1,337 | 2,331 | |||
Ending balance | 41,852 | $ 18,436 | 41,852 | $ 18,436 | |||
Multi Family Residential Real Estate [Member] | Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 0 | 0 | |||||
Provision for loan losses | 2 | 2 | |||||
Loans charged-off | 0 | 0 | |||||
Recoveries | 0 | 0 | |||||
Allowance for loan losses, Balance, end of period | 2 | 2 | |||||
Loans | |||||||
Ending balance | 863 | 863 | 2,724 | ||||
Multi Family Residential Real Estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 259 | 279 | |||||
Provision for loan losses | (68) | (88) | |||||
Loans charged-off | (5) | (5) | |||||
Recoveries | 106 | 106 | |||||
Allowance for loan losses, Balance, end of period | 292 | 292 | |||||
Loans | |||||||
Ending balance | 40,989 | 40,989 | 39,500 | ||||
Multi Family Residential Real Estate [Member] | Total Loans [Member] | |||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||||
Allowance for loan losses, Balance, beginning of period | 259 | 279 | |||||
Provision for loan losses | (66) | (86) | |||||
Loans charged-off | (5) | (5) | |||||
Recoveries | 106 | 106 | |||||
Allowance for loan losses, Balance, end of period | 294 | 294 | |||||
Loans | |||||||
Ending balance | $ 41,852 | $ 41,852 | $ 42,224 | ||||
[1] | Derived from audited consolidated financial statements. |
LOANS (Details Textual)
LOANS (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | $ 13,707 | $ 15,644 | ||
Impaired Loans Required for Specific Reserves | 5,400 | 6,000 | ||
With no related allowance, Recorded Investment | 8,327 | 9,600 | ||
Increase (Decrease) in Finance Receivables | 1,700 | 1,600 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | $ 177 | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 74,800 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing Receivable, Recorded Investment, Past Due, Total | 280 | 2,200 | ||
Nonaccrual Impaired Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | 8,000 | 6,900 | ||
Accrual Impaired Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | 5,400 | $ 8,700 | ||
Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | 6,700 | $ 8,100 | ||
Troubled Debt Restructuring Accrual Status [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | 3,700 | 5,300 | ||
Troubled Debt Restructuring Nonaccrual Status [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Impaired Financing Receivable, Recorded Investment | 3,000 | $ 2,800 | ||
Unused Lines of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Line of Credit Facility, Maximum Amount Outstanding During Period | $ 123,500 |
ACCUMULATED OTHER COMPREHENSI45
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Beginning balance | $ 1,131 | $ 132 | $ 809 | [1] | $ (108) |
Unrealized gain (loss) on investment securities available for sale | (680) | 547 | (72) | 929 | |
Tax effect | 259 | (204) | 25 | (346) | |
Other comprehensive gain (loss) before reclassification | (421) | 343 | (47) | 583 | |
Amounts reclassified from accumulated comprehensive income: | |||||
Realized loss on investment securities included in net income | (134) | 0 | (219) | 0 | |
Tax effect | 45 | 0 | 78 | 0 | |
Total reclassifications net of tax | (89) | 0 | (141) | 0 | |
Net current period other comprehensive income (loss) | (510) | 343 | (188) | 583 | |
Ending balance | $ 621 | $ 475 | $ 621 | $ 475 | |
[1] | Derived from audited consolidated financial statements. |
REPURCHASE AGREEMENTS (Details)
REPURCHASE AGREEMENTS (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | ||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | $ 86,938 | $ 102,235 | [1] |
Gross amount of recognized liabilities for repurchase agreements | 12,884 | 15,663 | |
Municipal Bonds [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 2,120 | 2,526 | |
Government agency [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 2,622 | 4,909 | |
Mortgage Back Securities [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 8,142 | 8,228 | |
Overnight and continuous [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 12,884 | 15,663 | |
Overnight and continuous [Member] | Municipal Bonds [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 2,120 | 2,526 | |
Overnight and continuous [Member] | Government agency [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 2,622 | 4,909 | |
Overnight and continuous [Member] | Mortgage Back Securities [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 8,142 | 8,228 | |
Maturity Less than 30 Days [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Less than 30 Days [Member] | Municipal Bonds [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Less than 30 Days [Member] | Government agency [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Less than 30 Days [Member] | Mortgage Back Securities [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity 30 to 90 Days [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity 30 to 90 Days [Member] | Municipal Bonds [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity 30 to 90 Days [Member] | Government agency [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity 30 to 90 Days [Member] | Mortgage Back Securities [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Greater than 90 Days [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Greater than 90 Days [Member] | Municipal Bonds [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Greater than 90 Days [Member] | Government agency [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | 0 | 0 | |
Maturity Greater than 90 Days [Member] | Mortgage Back Securities [Member] | |||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | |||
Available-for-sale Securities, Total | $ 0 | $ 0 | |
[1] | Derived from audited consolidated financial statements. |
REPURCHASE AGREEMENTS (Detail T
REPURCHASE AGREEMENTS (Detail Textual) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Sold under Agreements to Repurchase [Member] | ||
Repurchase Agreements Agreements Securities Borrowed [Line Items] | ||
Available For Sale Securities Pledged As Collateral Carrying Value | $ 12.9 | $ 15.7 |
OTHER REAL ESTATE OWNED (Detail
OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Schedule Of Real Estate Owned Properties [Line Items] | |||
Beginning balance January 1 | $ 1,585 | [1] | $ 2,008 |
Sales | (543) | (1,227) | |
Writedowns | (55) | (272) | |
Transfers | 0 | 660 | |
Ending balance | $ 1,030 | $ 1,169 | |
[1] | Derived from audited consolidated financial statements. |
OTHER REAL ESTATE OWNED (Deta49
OTHER REAL ESTATE OWNED (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | [1] | Jun. 30, 2014 | Dec. 31, 2013 |
Schedule Of Real Estate Owned Properties [Line Items] | |||||
Real Estate Acquired Through Foreclosure | $ 1,030 | $ 1,585 | $ 1,169 | $ 2,008 | |
[1] | Derived from audited consolidated financial statements. |
Uncategorized Items - slct-2015
Label | Element | Value |
Net Income (Loss) Attributable to Parent, Total | us-gaap_NetIncomeLoss | $ 1,821 |
Net Income (Loss) Attributable to Parent, Total | us-gaap_NetIncomeLoss | 613 |
Provision Recovery for Loan Losses | slct_ProvisionRecoveryForLoanLosses | (139) |
Provision Recovery for Loan Losses | slct_ProvisionRecoveryForLoanLosses | $ (427) |