Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2016shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2016 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | Community Bankers Trust Corp |
Entity Central Index Key | 1,323,648 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Common Stock, Shares Outstanding | 21,911,300 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 9,215 | $ 7,393 |
Interest bearing bank deposits | 8,979 | 9,576 |
Total cash and cash equivalents | 18,194 | 16,969 |
Securities available for sale, at fair value | 203,841 | 243,270 |
Securities held to maturity, at cost (fair value of $51,306 and $37,611, respectively) | 49,192 | 36,478 |
Equity securities, restricted, at cost | 8,647 | 8,423 |
Total securities | 261,680 | 288,171 |
Loans held for sale | 1,763 | 2,101 |
Loans | 785,016 | 748,724 |
Purchased credit impaired (PCI) loans | 54,766 | 58,955 |
Total loans | 839,782 | 807,679 |
Allowance for loan losses (loans of $9,434 and $9,559, respectively; PCI loans of $484 and $484, respectively) | (9,918) | (10,043) |
Net loans | 829,864 | 797,636 |
Bank premises and equipment, net | 27,654 | 27,378 |
Bank premises and equipment held for sale | 110 | |
Other real estate owned | 4,898 | 5,490 |
Bank owned life insurance | 26,941 | 21,620 |
Core deposit intangibles, net | 1,852 | 2,805 |
Other assets | 16,676 | 18,277 |
Total assets | 1,189,522 | 1,180,557 |
Deposits: | ||
Noninterest bearing | 115,677 | 96,216 |
Interest bearing | 841,337 | 849,303 |
Total deposits | 957,014 | 945,519 |
Federal funds purchased | 12,301 | 18,921 |
Federal Home Loan Bank advances | 94,274 | 95,656 |
Long-term debt | 3,806 | 5,675 |
Trust preferred capital notes | 4,124 | 4,124 |
Other liabilities | 5,772 | 6,175 |
Total liabilities | 1,077,291 | 1,076,070 |
SHAREHOLDERS' EQUITY | ||
Common stock (200,000,000 shares authorized, $0.01 par value; 21,911,300 and 21,866,944 shares issued and outstanding, respectively) | 219 | 219 |
Additional paid in capital | 146,273 | 145,907 |
Retained deficit | (36,312) | (41,050) |
Accumulated other comprehensive income (loss) | 2,051 | (589) |
Total shareholders' equity | 112,231 | 104,487 |
Total liabilities and shareholders' equity | $ 1,189,522 | $ 1,180,557 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Securities held to maturity | $ 51,306 | $ 37,611 |
Allowance for loan losses, loans | 9,434 | 9,559 |
Allowance for loan losses | $ 484 | $ 484 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares issued | 21,911,300 | 21,866,944 |
Common stock, shares outstanding | 21,911,300 | 21,866,944 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest and dividend income | ||||
Interest and fees on loans | $ 8,873 | $ 8,017 | $ 17,426 | $ 15,764 |
Interest and fees on PCI loans | 1,556 | 2,418 | 3,155 | 4,491 |
Interest on federal funds sold | 1 | 2 | ||
Interest on deposits in other banks | 23 | 17 | 44 | 34 |
Interest and dividends on securities | ||||
Taxable | 1,124 | 1,355 | 2,395 | 2,723 |
Nontaxable | 557 | 525 | 1,151 | 969 |
Total interest and dividend income | 12,133 | 12,333 | 24,171 | 23,983 |
Interest expense | ||||
Interest on deposits | 1,537 | 1,486 | 3,088 | 2,934 |
Interest on borrowed funds | 363 | 384 | 737 | 801 |
Total interest expense | 1,900 | 1,870 | 3,825 | 3,735 |
Net interest income | 10,233 | 10,463 | 20,346 | 20,248 |
Provision for loan losses | 200 | 200 | ||
Net interest income after provision for loan losses | 10,033 | 10,463 | 20,146 | 20,248 |
Noninterest income | ||||
Service charges on deposit accounts | 599 | 557 | 1,168 | 1,085 |
Gain (loss) on securities transactions, net | 261 | (8) | 520 | 289 |
Gain on sale of loans, net | 23 | 69 | ||
Income on bank owned life insurance | 204 | 188 | 392 | 374 |
Mortgage loan income | 174 | 262 | 347 | 410 |
Other | 157 | 184 | 289 | 376 |
Total noninterest income | 1,395 | 1,206 | 2,716 | 2,603 |
Noninterest expense | ||||
Salaries and employee benefits | 4,561 | 4,406 | 9,172 | 8,901 |
Occupancy expenses | 646 | 619 | 1,287 | 1,307 |
Equipment expenses | 248 | 260 | 487 | 500 |
FDIC assessment | 252 | 220 | 503 | 457 |
Data processing fees | 405 | 412 | 820 | 854 |
FDIC indemnification asset amortization | 1,153 | 2,392 | ||
Amortization of intangibles | 476 | 477 | 953 | 954 |
Other real estate (income) expense, net | (15) | 137 | (117) | 222 |
Other operating expenses | 1,656 | 1,759 | 3,155 | 3,375 |
Total noninterest expense | 8,229 | 9,443 | 16,260 | 18,962 |
Income before income taxes | 3,199 | 2,226 | 6,602 | 3,889 |
Income tax expense | 881 | 533 | 1,864 | 884 |
Net income | 2,318 | 1,693 | 4,738 | 3,005 |
Net income available to common shareholders | $ 2,318 | $ 1,693 | $ 4,738 | $ 3,005 |
Net income per share - basic | $ 0.11 | $ 0.08 | $ 0.22 | $ 0.14 |
Net income per share - diluted | $ 0.11 | $ 0.08 | $ 0.22 | $ 0.14 |
Weighted average number of shares outstanding | ||||
Basic | 21,897 | 21,821 | 21,885 | 21,810 |
Diluted | 22,039 | 21,958 | 22,080 | 21,994 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,318 | $ 1,693 | $ 4,738 | $ 3,005 |
Other comprehensive income (loss): | ||||
Change in unrealized gain (loss) in investment securities | 1,644 | (3,976) | 5,197 | (2,200) |
Tax related to unrealized (gain) loss in investment securities | (559) | 1,352 | (1,767) | 747 |
Reclassification adjustment for (gain) loss in securities sold | (261) | 8 | (520) | (289) |
Tax related to realized gain (loss) in securities sold | 89 | (3) | 177 | 98 |
Cash flow hedge: | ||||
Change in unrealized gain in cash flow hedge | (129) | 215 | (677) | (164) |
Tax related to cash flow hedge | 44 | (73) | 230 | 57 |
Total other comprehensive income (loss) | 828 | (2,477) | 2,640 | (1,751) |
Total comprehensive income (loss) | $ 3,146 | $ (784) | $ 7,378 | $ 1,254 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid in Capital [Member] | Retained Deficit [Member] | Accumulated Other Comprehensive Income [Member] | Total |
Beginning Balance at Dec. 31, 2014 | $ 218 | $ 145,321 | $ (38,553) | $ 664 | $ 107,650 |
Beginning Balance, shares at Dec. 31, 2014 | 21,792 | ||||
Issuance of common stock | 81 | 81 | |||
Issuance of common stock, shares | 36 | ||||
Exercise and issuance of employee stock options | 194 | 194 | |||
Net income | 3,005 | 3,005 | |||
Other comprehensive loss | (1,751) | (1,751) | |||
Ending Balance at Jun. 30, 2015 | $ 218 | 145,596 | (35,548) | (1,087) | 109,179 |
Ending Balance, shares at Jun. 30, 2015 | 21,828 | ||||
Beginning Balance at Dec. 31, 2015 | $ 219 | 145,907 | (41,050) | (589) | 104,487 |
Beginning Balance, shares at Dec. 31, 2015 | 21,867 | ||||
Issuance of common stock | 83 | 83 | |||
Issuance of common stock, shares | 44 | ||||
Exercise and issuance of employee stock options | 283 | 283 | |||
Net income | 4,738 | 4,738 | |||
Other comprehensive loss | 2,640 | 2,640 | |||
Ending Balance at Jun. 30, 2016 | $ 219 | $ 146,273 | $ (36,312) | $ 2,051 | $ 112,231 |
Ending Balance, shares at Jun. 30, 2016 | 21,911 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Operating activities: | ||
Net income | $ 4,738 | $ 3,005 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and intangibles amortization | 1,707 | 1,751 |
Share-based compensation expense | 286 | 233 |
Amortization of purchased loan premium | 126 | 152 |
Provision for loan losses | 200 | |
Amortization of security premiums and accretion of discounts, net | 892 | 1,325 |
Net gain on sale of securities | (520) | (289) |
Net (gain) loss on sale and valuation of other real estate owned | (227) | 198 |
Net gain on sale of loans | (69) | |
Originations of mortgages held for sale | (30,940) | (31,237) |
Proceeds from sales of mortgages held for sale | 31,278 | 24,934 |
Increase in bank owned life insurance investment | (321) | (308) |
Changes in assets and liabilities: | ||
Decrease in other assets | 309 | 3,146 |
(Decrease) increase in accrued expenses and other liabilities | (1,124) | 53 |
Net cash provided by operating activities | 6,404 | 2,894 |
Investing activities: | ||
Proceeds from available for sale securities | 76,311 | 93,444 |
Proceeds from held to maturity securities | 6,164 | 916 |
Proceeds from sale of equity securities | 2,253 | 873 |
Purchase of available for sale securities | (32,547) | (85,180) |
Purchase of held to maturity securities | (18,910) | (3,221) |
Purchase of equity securities | (2,477) | (65) |
Proceeds from sale of other real estate owned | 1,249 | 1,886 |
Improvements of other real estate, net of insurance proceeds | (34) | (52) |
Net increase in loans | (33,207) | (20,688) |
Principal recoveries of loans previously charged off | 228 | 1,448 |
Purchase of premises and equipment, net | (1,035) | (870) |
Proceeds from sale of loans | 3,380 | |
Purchase of bank owned life insurance investment | (5,000) | |
Proceeds from sale of premises and equipment | 146 | |
Net cash provided by investing activities | (6,859) | (8,129) |
Financing activities: | ||
Net decrease in deposits | 11,495 | 28,991 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | (6,620) | (9,497) |
Net decrease in Federal Home Loan Bank borrowings | (1,382) | (15,370) |
Proceeds from issuance of common stock | 56 | 30 |
Payments on long-term debt | (1,869) | (2,403) |
Net cash provided by financing activities | 1,680 | 1,751 |
Net increase (decrease) in cash and cash equivalents | 1,225 | (3,484) |
Cash and cash equivalents: | ||
Beginning of the period | 16,969 | 22,353 |
End of the period | 18,194 | 18,869 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 3,844 | 3,765 |
Income taxes paid | 3,214 | 815 |
Transfers of loans to other real estate owned property | $ 425 | $ 741 |
Nature of Banking Activities an
Nature of Banking Activities and Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Nature of Banking Activities and Significant Accounting Policies [Abstract] | |
Nature of Banking Activities and Significant Accounting Policies | Note 1. Nature of Banking Activities and Significant Accounting Policies Organization Community Bankers Trust Corporation (the “Company”) is headquartered in Richmond, Virginia and is the holding company for Essex Bank (the “Bank”), a Virginia state bank with 22 full-service offices in Virginia and Maryland. The Bank also operates one loan production office in Virginia. The Bank engages in a general commercial banking business and provides a wide range of financial services primarily to individuals and small businesses, including individual and commercial demand and time deposit accounts, commercial and industrial loans, consumer and small business loans, real estate and mortgage loans, investment services, on-line and mobile banking products, and safe deposit box facilities. Financial Statements The consolidated statements presented include accounts of the Company and the Bank, its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated. The statements should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes to consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 201 5 . The accounting and reporting policies of the Company conform to U.S. generally accepted accounting principles (GAAP) and to the general practices within the banking industry. The interim financial statements have not been audited; however, in the opinion of management, all adjustments, consisting of normal accruals, were made that are necessary to present fairly the balance sheet of the Company as of June 3 0 , 201 6 , the statements of changes in shareholders’ equity and cash flows for the six months ended June 30, 2016 and the statements of income and comprehensive income (loss) for the three and six months ended June 3 0 , 201 6 . Results for the six month period ended June 3 0 , 201 6 are not necessarily indicative of the results that may be expected for the year ending December 31, 201 6 . The financial information contained within the statements is, to a significant extent, financial information that is based on measures of the financial effects of transactions and events that have already occurred. A variety of factors could affect the ultimate value that is obtained when either earning income, recognizing an expense, recovering an asset or relieving a liability. The Company uses historical loss factors as one factor in determining the inherent loss that may be present in its loan portfolio. Actual losses could differ significantly from the historical factors that the Company uses. In addition, GAAP itself may change from one previously acceptable method to another method. Although the economics of the Company’s transactions would be the same, the timing of events that would impact its transactions could change. In preparing these financial statements, the Company has evaluated subsequent events and transactions for potential recognition or disclosure through the date the financial statements were issued. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments are intended to improve the accounting for employee share-based payments and affect all organizations that issue share-based payment awards to their employees. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The only amendment to potentially impact earnings is the one relating to income tax consequences, which refers to a change in the recording of the related tax effects of share-based compensation awards. Currently, an entity must determine for each award whether the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes results in either an excess tax benefit or a tax deficiency. Excess tax benefits are recognized in additional paid-in capital while tax deficiencies are recognized as income tax expense. Under the amendment, all excess tax benefits and tax deficiencies should be recognized as income tax benefit or expense in the income statement. For public companies, the amendments are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any organization in any interim or annual period. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. Also in March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting. The amendments affect all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. The amendments eliminate the requirement that, when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods that the investment had been held. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. Therefore, upon qualifying for the equity method of accounting, no retroactive adjustment of the investment is required. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Earlier application is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information in developing their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For public companies, the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 (i.e., January 1, 2020, for calendar year entities). Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is evaluating what impact adopting this guidance will have on its consolidated financial statements. Certain reclassifications have been made to prior period balances to conform to the current year presentations. |
Securities
Securities | 6 Months Ended |
Jun. 30, 2016 | |
Securities [Abstract] | |
Securities | Note 2. Securities Amortized costs and fair values of securities available for sale and held to maturity at June 30, 2016 and December 31, 2015 were as follows ( dollars in thousands): June 30, 2016 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury issue and other U.S. Gov’t agencies $ 37,898 $ 99 $ (479) $ 37,518 U.S. Gov’t sponsored agencies 2,000 — — 2,000 State, county and municipal 122,840 6,562 (294) 129,108 Corporate and other bonds 14,199 25 (701) 13,523 Mortgage backed – U.S. Gov’t agencies 5,210 31 (1) 5,240 Mortgage backed – U.S. Gov’t sponsored agencies 16,345 150 (43) 16,452 Total Securities Available for Sale $ 198,492 $ 6,867 $ (1,518) $ 203,841 Securities Held to Maturity U.S. Treasury issue and other U.S. Gov’t agencies $ 13,501 $ 3 $ — $ 13,504 State, county and municipal 34,806 2,092 — 36,898 Mortgage backed – U.S. Gov’t agencies 885 19 — 904 Total Securities Held to Maturity $ 49,192 $ 2,114 $ — $ 51,306 December 31, 2015 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury issue and other U.S. Gov’t agencies $ 50,590 $ 11 $ (660) $ 49,941 U.S. Gov’t sponsored agencies 756 — (14) 742 State, county and municipal 138,965 3,400 (867) 141,498 Corporate and other bonds 14,997 10 (711) 14,296 Mortgage backed – U.S. Gov’t agencies 8,654 9 (167) 8,496 Mortgage backed – U.S. Gov’t sponsored agencies 28,637 22 (362) 28,297 Total Securities Available for Sale $ 242,599 $ 3,452 $ (2,781) $ 243,270 Securities Held to Maturity State, county and municipal $ 35,456 $ 1,136 $ (35) $ 36,557 Mortgage backed – U.S. Gov’t agencies 1,022 32 — 1,054 Total Securities Held to Maturity $ 36,478 $ 1,168 $ (35) $ 37,611 The amortized cost and fair value of securities at June 3 0 , 201 6 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without any penalties. Held to Maturity Available for Sale (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 4,602 $ 4,617 $ 4,380 $ 4,414 Due after one year through five years 20,830 21,384 77,068 79,684 Due after five years through ten years 14,472 15,497 93,637 96,257 Due after ten years 9,288 9,808 23,407 23,486 Total securities $ 49,192 $ 51,306 $ 198,492 $ 203,841 Proceeds from sales of securities available for sale were $2 0.1 million and $15.6 million during the three months ended June 30, 2016 and 2015, respectively , and $7 1.5 million and $56.2 million during the six months ended June 30, 2016 and 2015, respectively. Gains and losses on the sale of securities are determined using the specific identification method. Gross realized gains and losses on sales of securities available for sale during the three and six months ended June 30, 2016 and 2015 were as follows (dollars in thousands) : Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Gross realized gains $ 278 $ 122 $ 1,032 $ 575 Gross realized losses (17) (130) (512) (286) Net securities gains $ 261 $ (8) $ 520 $ 289 In estimating other than temporary impairment (OTTI) losses, management considers the length of time and the extent to which the fair value has been less than cost, the financial condition and short-term prospects for the issuer, and the intent and ability of management to hold its investment for a period of time to allow a recovery in fair value. There were no investments held that had OTTI losses for the three and six months ended June 3 0 , 201 6 and 201 5 . The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at June 30, 2016 and December 31, 2015 were as follows (dollars in thousands): June 30, 2016 Less than 12 Months 12 Months or More Total Securities Available for Sale Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury issue and other U.S. Gov’t agencies $ 10,505 $ (76) $ 19,901 $ (403) $ 30,406 $ (479) State, county and municipal 1,075 (9) 4,986 (285) 6,061 (294) Corporate and other bonds 3,450 (218) 8,800 (483) 12,250 (701) Mortgage backed – U.S. Gov’t agencies - - 1,996 (1) 1,996 (1) Mortgage backed – U.S. Gov’t sponsored agencies 2,331 (41) 157 (2) 2,488 (43) Total $ 17,361 $ (344) $ 35,840 $ (1,174) $ 53,201 $ (1,518) December 31, 2015 Less than 12 Months 12 Months or More Total Securities Available for Sale Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury issue and other U.S. Gov’t agencies $ 20,408 $ (84) $ 28,063 $ (576) $ 48,471 $ (660) U.S. Gov’t sponsored agencies 742 (14) - - 742 (14) State, county and municipal 23,733 (252) 10,270 (615) 34,003 (867) Corporate and other bonds 8,996 (669) 3,290 (42) 12,286 (711) Mortgage backed – U.S. Gov’t agencies 6,386 (88) 1,919 (79) 8,305 (167) Mortgage backed – U.S. Gov’t sponsored agencies 24,129 (360) 175 (2) 24,304 (362) Total $ 84,394 $ (1,467) $ 43,717 $ (1,314) $ 128,111 $ (2,781) Securities Held to Maturity State, county and municipal $ 3,889 $ (35) $ - $ - $ 3,889 $ (35) The unrealized losses (impairments) in the investment portfolio at June 3 0 , 2016 and December 31, 2015 are generally a result of market fluctuations that occur daily. The unrealized losses are from 55 securities at June 3 0 , 2016. Of those, 35 are investment grade, have U.S. government agency guarantees, or are backed by the full faith and credit of local municipalities throughout the United States. Twenty investment grade corporate and other bond obligations comprise the remaining securities with unrealized losses at June 3 0 , 2016. The Company considers the reason for impairment, length of impairment , and ability and intent to hold until the full value is recovered in determining if the impairment is temporary in nature. Based on this analysis, the Company has determined these impairments to be temporary in nature. The Company does not intend to sell , and it is more likely than not that the Company will not be required to sell , these securities until they recover in value or reach maturity. Market prices are affected by conditions beyond the control of the Company. Investment decisions are made by the management group of the Company and reflect the overall liquidity and strategic asset/liability objectives of the Company. Management analyzes the securities portfolio frequently and manages the portfolio to provide an overall positive impact to the Company’s income statement and balance sheet. Securities with amortized costs of $ 71 . 4 million and $88. 7 million at June 3 0 , 2016 and December 31, 2015, respectively, were pledged to secure public deposits as required or permitted by law and a line of credit at the Federal Reserve discount window . At each of June 3 0 , 2016 and December 31, 2015, there were no securities purchased from a single issuer, other than U.S. Treasury issue and other U.S. Government agencies that comprised more than 10% of the consolidated shareholders’ equity. |
Loans and Related Allowance for
Loans and Related Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Related Allowance for Loan Losses [Abstract] | |
Loans and Related Allowance for Loan Losses | Note 3. Loans and Related Allowance for Loan Losses The Company’s loans, net of deferred fees and costs, at June 30, 2016 and December 31, 2015 were comprised of the following (dollars in thousands): June 30, 2016 December 31, 2015 Amount % of Loans Amount % of Loans Mortgage loans on real estate: Residential 1-4 family $ 204,639 26.07 % $ 194,576 25.99 % Commercial 325,394 41.45 317,955 42.47 Construction and land development 79,826 10.17 67,408 9.00 Second mortgages 8,212 1.05 8,378 1.12 Multifamily 44,585 5.68 45,389 6.06 Agriculture 7,988 1.02 6,238 0.83 Total real estate loans 670,644 85.44 639,944 85.47 Commercial loans 107,953 13.75 102,507 13.69 Consumer installment loans 5,125 0.65 4,928 0.66 All other loans 1,294 0.16 1,345 0.18 Total loans $ 785,016 100.00 % $ 748,724 100.00 % The Company held $15.0 million and $13. 4 million in balances of loans guaranteed by the United States Department of Agriculture (USDA), which are included in various categories in the table above, at June 3 0 , 2016 and December 31, 2015, respectively. As these loans are 100% guaranteed by the USDA, no loan loss provision is required. These loan balances included a purchase premium of $ 731,000 and $ 586,000 at June 3 0 , 2016 and December 31, 2015, respectively. The purchase premium is amortized as an adjustment of the related loan yield on a straight line basis, which is substantially equivalent to the results obtained using the effective interest method. At June 3 0 , 2016 and December 31, 2015, the Company’s allowance for credit losses was comprised of the following: (i) a specific valuation component calculated in accordance with FASB ASC 310, Receivables, (ii) a general valuation component calculated in accordance with FASB Accounting Standards Codification (ASC) 450, Contingencies , based on historical loan loss experience, economic conditions and other qualitative risk factors, and (iii) an unallocated component to cover uncertainties that could affect management’s estimate of probable losses. Management identified loans subject to impairment in accordance with ASC 310. The following table summarizes information related to impaired loans as of June 30, 2016 (dollars in thousands): With an allowance recorded: Recorded Investment (1) Unpaid Principal Balance (2) Related Allowance Mortgage loans on real estate: Residential 1-4 family $ 2,011 $ 2,608 $ 229 Commercial 348 513 50 Construction and land development 5,556 7,193 771 Total real estate loans 7,915 10,314 1,050 Commercial loans 54 54 8 Consumer installment loans 83 91 11 Subtotal impaired loans with a valuation allowance 8,052 10,459 1,069 With no related allowance recorded: Mortgage loans on real estate: Residential 1-4 family 1,965 2,129 — Commercial 1,354 1,742 — Construction and land development 149 182 — Second mortgages 135 135 — Total real estate loans 3,603 4,188 — Subtotal impaired loans without a valuation allowance 3,603 4,188 — Total: Mortgage loans on real estate: Residential 1-4 family 3,976 4,737 229 Commercial 1,702 2,255 50 Construction and land development 5,705 7,375 771 Second mortgages 135 135 — Total real estate loans 11,518 14,502 1,050 Commercial loans 54 54 8 Consumer installment loans 83 91 11 Total impaired loans $ 11,655 $ 14,647 $ 1,069 (1) The amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment (2) The contractual amount due, which reflects paydowns applied in accordance with loan documents, but which does not reflect any direct write-downs The following table summarizes information related to impaired loans as of December 31, 2015 (dollars in thousands): With an allowance recorded: Recorded Investment (1) Unpaid Principal Balance (2) Related Allowance Mortgage loans on real estate: Residential 1-4 family $ 2,777 $ 3,034 $ 414 Commercial 205 407 35 Construction and land development 4,509 6,179 574 Second mortgages 13 14 2 Total real estate loans 7,504 9,634 1,025 Consumer installment loans 78 84 14 Subtotal impaired loans with a valuation allowance 7,582 9,718 1,039 With no related allowance recorded: Mortgage loans on real estate: Residential 1-4 family 1,785 2,260 — Commercial 1,303 1,500 — Total real estate loans 3,088 3,760 — Subtotal impaired loans without a valuation allowance 3,088 3,760 — Total: Mortgage loans on real estate: Residential 1-4 family 4,562 5,294 414 Commercial 1,508 1,907 35 Construction and land development 4,509 6,179 574 Second mortgages 13 14 2 Total real estate loans 10,592 13,394 1,025 Consumer installment loans 78 84 14 Total impaired loans $ 10,670 $ 13,478 $ 1,039 (1) The amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment (2) The contractual amount due, which reflects paydowns applied in accordance with loan documents, but which does not reflect any direct write-downs The following table summarizes the average recorded investment of impaired loans for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended Six months ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 4,166 $ 3,475 $ 4,269 $ 3,617 Commercial 1,751 1,786 1,605 1,232 Construction and land development 5,101 4,750 5,107 4,917 Second mortgages 142 61 74 61 Total real estate loans 11,160 10,072 11,055 9,827 Commercial loans 54 3,706 27 3,762 Consumer installment loans 82 87 81 103 Total impaired loans $ 11,296 $ 13,865 $ 11,163 $ 13,692 During each of the three and six months ended June 3 0 , 2016 and 2015, all of the impaired loans were also nonaccruing for which no interest income was recognized. Interest income on nonaccrual loans, if recognized, is recorded using the cash basis method of accounting. There was an insignificant amount of cash basis income recognized during the three and six months ended June 3 0 , 2016. Cash basis income of $260,000 and $465,000 was recognized during the three and six months ended June 3 0 , 2015 , respectively . For the three months ended June 3 0 , 2016, and 2015, estimated interest income of $219,000 and $225,000 , respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. For the six months ended June 3 0 , 2016, and 2015, estimated interest income of $409,000 and $420,000 , respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. The following tables present an age analysis of past due status of loans by category as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 30-89 Days Past Due Nonaccrual Total Past Due Current Total Loans Receivable Mortgage loans on real estate: Residential 1-4 family $ 632 $ 3,976 $ 4,608 $ 200,031 $ 204,639 Commercial 310 1,702 2,012 323,382 325,394 Construction and land development — 5,705 5,705 74,121 79,826 Second mortgages 25 135 160 8,052 8,212 Multifamily — — — 44,585 44,585 Agriculture — — — 7,988 7,988 Total real estate loans 967 11,518 12,485 658,159 670,644 Commercial loans 235 54 289 107,664 107,953 Consumer installment loans 23 83 106 5,019 5,125 All other loans 34 — 34 1,260 1,294 Total loans $ 1,259 $ 11,655 $ 12,914 $ 772,102 $ 785,016 December 31, 2015 30-89 Days Past Due Nonaccrual Total Past Due Current Total Loans Receivable Mortgage loans on real estate: Residential 1-4 family $ 811 $ 4,562 $ 5,373 $ 189,203 $ 194,576 Commercial 1,471 1,508 2,979 314,976 317,955 Construction and land development 51 4,509 4,560 62,848 67,408 Second mortgages 135 13 148 8,230 8,378 Multifamily — — — 45,389 45,389 Agriculture — — — 6,238 6,238 Total real estate loans 2,468 10,592 13,060 626,884 639,944 Commercial loans 16 — 16 102,491 102,507 Consumer installment loans 10 78 88 4,840 4,928 All other loans 33 — 33 1,312 1,345 Total loans $ 2,527 $ 10,670 $ 13,197 $ 735,527 $ 748,724 Activity in the allowance for loan losses on loans by segment for the three and six months ended June 30, 2016 and 2015 is presented in the following tables (dollars in thousands): Three months ended June 30, 2016 March 31, 2016 Provision Allocation Charge-offs Recoveries June 30, 2016 Mortgage loans on real estate: Residential 1-4 family $ 2,711 $ 50 $ (305) $ 14 $ 2,470 Commercial 3,524 145 (75) 17 3,611 Construction and land development 1,684 (98) — 1 1,587 Second mortgages 114 (68) — 1 47 Multifamily 362 (63) — — 299 Agriculture 16 10 — — 26 Total real estate loans 8,411 (24) (380) 33 8,040 Commercial loans 1,084 186 — 10 1,280 Consumer installment loans 92 34 (34) 11 103 All other loans 7 4 — — 11 Total loans $ 9,594 $ 200 $ (414) $ 54 $ 9,434 Three months ended June 30, 2015 March 31, 2015 Provision Allocation Charge-offs Recoveries June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 2,861 $ 743 $ — $ 8 $ 3,612 Commercial 2,571 979 — 9 3,559 Construction and land development 1,503 584 (455) 7 1,639 Second mortgages 55 (90) — 91 56 Multifamily 175 76 — — 251 Agriculture 70 7 — — 77 Total real estate loans 7,235 2,299 (455) 115 9,194 Commercial loans 1,650 (2,291) — 1,202 561 Consumer installment loans 97 (10) (34) 25 78 All other loans 29 2 — — 31 Total loans $ 9,011 $ — $ (489) $ 1,342 $ 9,864 Six months ended June 30, 2016 December 31, 2015 Provision Allocation Charge-offs Recoveries June 30, 2016 Mortgage loans on real estate: Residential 1-4 family $ 3,041 $ (357) $ (325) $ 111 $ 2,470 Commercial 4,022 (328) (112) 29 3,611 Construction and land development 1,353 232 — 2 1,587 Second mortgages 103 (62) — 6 47 Multifamily 178 121 — — 299 Agriculture 27 (1) — — 26 Total real estate loans 8,724 (395) (437) 148 8,040 Commercial loans 727 542 — 11 1,280 Consumer installment loans 97 53 (116) 69 103 All other loans 11 — — — 11 Total loans $ 9,559 $ 200 $ (553) $ 228 $ 9,434 Six months ended June 30, 2015 December 31, 2014 Provision Allocation Charge-offs Recoveries June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 3,100 $ 755 $ (300) $ 57 $ 3,612 Commercial 2,618 926 — 15 3,559 Construction and land development 1,930 146 (455) 18 1,639 Second mortgages 63 (100) — 93 56 Multifamily 136 115 — — 251 Agriculture 66 11 — — 77 Total real estate loans 7,913 1,853 (755) 183 9,194 Commercial loans 1,242 (1,889) — 1,208 561 Consumer installment loans 85 32 (96) 57 78 All other loans 27 4 — — 31 Total loans $ 9,267 $ — $ (851) $ 1,448 $ 9,864 The Company recorded a $200,000 provision for the three and six months ended June 30, 2016 as additional general reserves to support current period loan growth. The following tables present information on the loans evaluated for impairment in the allowance for loan losses as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Mortgage loans on real estate: Residential 1-4 family $ 289 $ 2,181 $ 2,470 $ 5,760 $ 198,879 $ 204,639 Commercial 77 3,534 3,611 6,353 319,041 325,394 Construction and land development 771 816 1,587 5,705 74,121 79,826 Second mortgages — 47 47 135 8,077 8,212 Multifamily — 299 299 — 44,585 44,585 Agriculture — 26 26 — 7,988 7,988 Total real estate loans 1,137 6,903 8,040 17,953 652,691 670,644 Commercial loans 8 1,272 1,280 95 107,858 107,953 Consumer installment loans 12 91 103 327 4,798 5,125 All other loans — 11 11 — 1,294 1,294 Total loans $ 1,157 $ 8,277 $ 9,434 $ 18,375 $ 766,641 $ 785,016 December 31, 2015 Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Mortgage loans on real estate: Residential 1-4 family $ 450 $ 2,591 $ 3,041 $ 6,972 $ 187,604 $ 194,576 Commercial 55 3,967 4,022 6,362 311,593 317,955 Construction and land development 564 789 1,353 4,509 62,899 67,408 Second mortgages 2 101 103 13 8,365 8,378 Multifamily — 178 178 — 45,389 45,389 Agriculture — 27 27 — 6,238 6,238 Total real estate loans 1,071 7,653 8,724 17,856 622,088 639,944 Commercial loans — 727 727 58 102,449 102,507 Consumer installment loans 12 85 97 78 4,850 4,928 All other loans — 11 11 — 1,345 1,345 Total loans $ 1,083 $ 8,476 $ 9,559 $ 17,992 $ 730,732 $ 748,724 (1) The category “Individually Evaluated for Impairment” includes loans individually evaluated for impairment and determined not to be impaired. These loans totalled $6.7 million and $7. 3 million at June 30, 2016 and December 31, 2015, respectively. The allowance for loan losses allocated to these loans was $88,000 and $44,000 at June 30, 2016 and December 31, 2015, respectively . Loans are monitored for credit quality on a recurring basis. These credit quality indicators are defined as follows: Pass - A pass loan is not adversely classified, as it does not display any of the characteristics for adverse classification. This category includes purchased loans that are 100% guaranteed by U.S. Government agencies of $15.0 million and $13.4 million at June 3 0 , 2016 and December 31, 2015, respectively. Special Mention - A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention loans are not adversely classified and do not warrant adverse classification. Substandard - A substandard loan is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard generally have a well defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful - A doubtful loan has all the weaknesses inherent in a loan classified as substandard with the added characteristics that the weaknesses make collection or liquidation in full, highly questionable and improbable, on the basis of currently existing facts, conditions, and values. The possibility of loss is extremely high. The following tables present the composition of loans by credit quality indicator at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1-4 family $ 193,784 $ 6,474 $ 4,381 $ — $ 204,639 Commercial 318,883 3,188 3,323 — 325,394 Construction and land development 73,901 220 5,705 — 79,826 Second mortgages 7,551 526 135 — 8,212 Multifamily 37,059 7,526 — — 44,585 Agriculture 7,866 122 — — 7,988 Total real estate loans 639,044 18,056 13,544 — 670,644 Commercial loans 104,903 2,955 95 — 107,953 Consumer installment loans 5,021 21 83 — 5,125 All other loans 1,294 — — — 1,294 Total loans $ 750,262 $ 21,032 $ 13,722 $ — $ 785,016 December 31, 2015 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1-4 family $ 182,394 $ 6,612 $ 5,570 $ — $ 194,576 Commercial 306,267 8,520 3,168 — 317,955 Construction and land development 62,391 434 4,583 — 67,408 Second mortgages 7,126 1,239 13 — 8,378 Multifamily 45,389 — — — 45,389 Agriculture 6,113 125 — — 6,238 Total real estate loans 609,680 16,930 13,334 — 639,944 Commercial loans 98,159 4,290 58 — 102,507 Consumer installment loans 4,593 256 79 — 4,928 All other loans 1,345 — — — 1,345 Total loans $ 713,777 $ 21,476 $ 13,471 $ — $ 748,724 In accordance with FASB ASU 2011-02, Receivables (Topic 310): A Creditor's Determination of Whether a Restructuring is a Troubled Debt Restructuring, the Company assesses all loan modifications to determine whether they are considered troubled debt restructurings (TDRs) under the guidance. The Company had 18 and 1 9 loans that met the definition of a TDR at June 30, 2016 and 2015, respectively. During the three months ended June 3 0 , 2016, the Company modified one residential 1-4 family loan that w as considered to be a TDR. The Company extended the terms for this loan, which had a pre- and post-modification balance of $81,000 and $97,000 , respectively . During the six months ended June 3 0 , 2016, the Company modified one residential 1-4 family loan and one consumer installment loan that w as considered to be a TDR. The Company extended the terms for the residential 1-4 family loan, which had a pre- and post-modification balance of $81,000 and $97,000 , respectively. The Company extended the terms and lowered the interest rate for the consumer installment loan, which had a pre - and post-modification balance of $248,000 . During the three and six months ended June 3 0 , 2015, the Company modified one residential 1-4 family loan that was considered to be a TDR. The Company extended the terms and lowered the interest rate for this loan, which had a pre - and post-modification balance of $68,000 . A loan is considered to be in default if it is 90 days or more past due. There were no TDRs that had been restructured during the previous 12 months that resulted in default during either of the three and six months ended June 3 0 , 2016 and 2015. In the determination of the allowance for loan losses, management considers TDRs and subsequent defaults in these restructures by reviewing for impairment in accordance with FASB ASC 310-10-35, Receivables, Subsequent Measurement. At June 3 0 , 2016, the Company had 1-4 family mortgages in the amount of $149.5 million pledged as collateral to the Federal Home Loan Bank for a total borrowing capacity of $134.9 million. |
PCI Loans and Related Allowance
PCI Loans and Related Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
PCI Loans and Related Allowance for Loan Losses [Abstract] | |
PCI Loans and Related Allowance for Loan Losses | Note 4. PCI Loans and Related Allowance for Loan Losses On January 30, 2009, the Company entered into a Purchase and Assumption Agreement with the Federal Deposit Insurance Corporation ( FDIC ) to assume all of the deposits and certain other liabilities and acquire substantially all assets of Suburban Federal Savings Bank (SFSB). The Company is applying the provisions of FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality , to all loans acquired in the SFSB transaction (the “PCI loans”) . Of the total $198.3 million in loans acquired, $49.1 million met the criteria of FASB ASC 310-30. These loans, consisting mainly of construction loans, were deemed impaired at the acquisition date. The remaining $149.1 million of loans acquired, comprised mainly of residential 1-4 family, were analogized to meet the criteria of FASB ASC 310-30. Analysis of this portfolio revealed that SFSB utilized weak underwriting and documentation standards, which led the Company to believe that significant losses were probable given the economic environment at the time. As of June 3 0 , 201 6 and December 31, 201 5 , the outstanding contractual balance of the PCI loans was $85.4 million and $91. 3 million, respectively. The carrying amount, by loan type, as of these dates is as follows (dollars in thousands): June 30, 2016 December 31, 2015 Amount % of PCI Loans Amount % of PCI Loans Mortgage loans on real estate: Residential 1-4 family $ 49,26 4 89.95 % $ 52,696 89.38 % Commercial 705 1.29 850 1.44 Construction and land development 2,029 3.71 2,310 3.92 Second mortgages 2,494 4.55 2,822 4.79 Multifamily 274 0.50 277 0.47 Total real estate loans 54,766 100.00 58,955 100.00 Total PCI loans $ 54,76 6 100.00 % $ 58,955 100.00 % There was no activity in the allowance for loan losses on PCI loans for the three and six months ended June 3 0 , 201 6 and 201 5 . The following table presents information on the PCI loans collectively evaluated for impairment in the allowance for loan losses at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Mortgage loans on real estate: Residential 1-4 family $484 $49,264 $484 $52,696 Commercial — 705 — 850 Construction and land development — 2,029 — 2,310 Second mortgages — 2,494 — 2,822 Multifamily — 274 — 277 Total real estate loans 484 54,766 484 58,955 Total PCI loans $484 $54,766 $484 $58,955 The change in the accretable yield balance for the six months ended June 30, 2016 and the year ended December 31, 2015, is as follows (dollars in thousands): Balance, January 1, 2015 $ 51,082 Accretion (7,811) Reclassification from nonaccretable yield 5,857 Balance, December 31, 2015 49,128 Accretion (3,132) Reclassification from nonaccretable yield 3,805 Balance, June 30, 2016 $ 49,801 The PCI loans were not classified as nonperforming assets as of June 3 0 , 201 6 , as the loans are accounted for on a pooled basis, and interest income, through accretion of the difference between the carrying amount of the loans and the expected cash flows, is being recognized on all PCI loans. |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2016 | |
Other Real Estate Owned [Abstract] | |
Other Real Estate Owned | Note 5 . Other R eal E state O wned The following table presents the balances of other real estate owned at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Residential 1-4 family $ 968 $ 1,407 Commercial 643 634 Construction and land development 3,287 3,449 Total other real estate owned $ 4,898 $ 5,490 At June 3 0 , 201 6 , the Company had $1.6 million in residential 1-4 family loans and PCI loans that were in the process of foreclosure. |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2016 | |
Deposits [Abstract] | |
Deposits | Note 6 . Deposits The following table provides interest bearing deposit information, by type, as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 NOW $ 133,362 $ 128,761 MMDA 107,067 108,810 Savings 85,063 84,047 Time deposits less than or equal to $250,000 402,434 409,085 Time deposits over $250,000 113,411 118,600 Total interest bearing deposits $ 841,337 $ 849,303 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2016 | |
Accumulated Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | Note 7 . Accumulated Other Comprehensive Income (Loss) The following tables present activity net of tax in accumulated other comprehensive income (loss) (AOCI) for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended June 30, 2016 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 2,617 $ (901) $ (493) $ 1,223 Other comprehensive income before reclassifications 1,085 - (85) 1,000 Amounts reclassified from AOCI (172) - - (172) Net current period other comprehensive income (loss) 913 - (85) 828 Ending balance $ 3,530 $ (901) $ (578) $ 2,051 Three months ended June 30, 2015 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 2,427 $ (811) $ (226) $ 1,390 Other comprehensive income before reclassifications (2,624) - 142 (2,482) Amounts reclassified from AOCI 5 - - 5 Net current period other comprehensive (loss) income (2,619) - 142 (2,477) Ending balance $ (192) $ (811) $ (84) $ (1,087) Six months ended June 30, 2016 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 443 $ (901) $ (131) $ (589) Other comprehensive income before reclassifications 3,430 - (447) 2,983 Amounts reclassified from AOCI (343) - - (343) Net current period other comprehensive income (loss) 3,087 - (447) 2,640 Ending balance $ 3,530 $ (901) $ (578) $ 2,051 Six months ended June 30, 2015 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 1,452 $ (811) $ 23 $ 664 Other comprehensive income before reclassifications (1,453) - (107) (1,560) Amounts reclassified from AOCI (191) - - (191) Net current period other comprehensive (loss) income (1,644) - (107) (1,751) Ending balance $ (192) $ (811) $ (84) $ (1,087) The following table presents the effects of reclassifications out of AOCI on line items of consolidated income for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Details about AOCI Components Amount Reclassified from AOCI Affected Line Item in the Unaudited Consolidated Statement of Income Three months ended June 30, 2016 June 30, 2015 Unrealized ( gain ) loss on securities available for sale $ (261) $ 8 Gain (loss) on securities transactions, net 89 (3) Income tax expense $ (172) $ 5 Net of tax Details about AOCI Components Amount Reclassified from AOCI Affected Line Item in the Unaudited Consolidated Statement of Income Six months ended June 30, 2016 June 30, 2015 Unrealized ( gain ) loss on securities available for sale $ (520) $ (289) Gain (loss) on securities transactions, net 177 98 Income tax expense $ (343) $ (191) Net of tax |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2016 | |
Fair Values of Assets and Liabilities [Abstract] | |
Fair Values of Assets and Liabilities | N ote 8 . Fair Values of Assets and Liabilities FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820 requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs and also establishes a fair value hierarchy that prioritizes the valuation inputs into three broad levels. 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 or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Valuation is determined using model-based techniques with significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of third party pricing services, option pricing models, discounted cash flow models and similar techniques. FASB ASC 825, Financial Instruments , allows an entity the irrevocable option to elect fair value for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. The Company has not made any material FASB ASC 825 elections as of June 3 0 , 201 6 . Assets and Liabilities Recorded at Fair Value on a Recurring Basis The Company utilizes fair value measurements to record adjustments to certain assets to determine fair value disclosures. Securities available for sale and loans held for sale are recorded at fair value on a recurring basis. The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (dollars in thousands): June 30, 2016 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury issue and other U.S. Gov’t agencies $ 37,518 $ 31,722 $ 5,796 $ - U.S. Gov’t sponsored agencies 2,000 2,000 - - State, county and municipal 129,108 1,126 127,982 - Corporate and other bonds 13,523 - 13,523 - Mortgage backed – U.S. Gov’t agencies 5,240 - 5,240 - Mortgage backed – U.S. Gov’t sponsored agencies 16,452 - 16,452 - Total investment securities available for sale 203,841 34,848 168,993 - Total assets at fair value $ 203,841 $ 34,848 $ 168,993 $ - Cash flow hedge $ (875) $ - $ (875) $ - Total liabilities at fair value $ (875) $ - $ (875) $ - December 31, 2015 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury issue and other U.S. Gov’t agencies $ 49,941 $ 39,748 $ 10,193 $ - U.S. Gov’t sponsored agencies 742 - 742 - State, county and municipal 141,498 687 140,811 - Corporate and other bonds 14,296 - 14,296 - Mortgage backed – U.S. Gov’t agencies 8,496 - 8,496 - Mortgage backed – U.S. Gov’t sponsored agencies 28,297 - 28,297 - Total investment securities available for sale 243,270 40,435 202,835 - Total assets at fair value $ 243,270 $ 40,435 $ 202,835 $ - Cash flow hedge $ (199) $ - $ (199) $ - Total liabilities at fair value $ (199) $ - $ (199) $ - Investment securities available for sale Investment securities available for sale are recorded at fair value each reporting period. 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. The Company utilizes a third party vendor to provide fair value data for purposes of determining the fair value of its available for sale securities portfolio. The third party vendor uses a reputable pricing company for security market data. The third party vendor has controls and edits in place for month-to-month market checks and zero pricing, and a Statement on Standards for Attestation Engagements No. 16 report is obtained from the third party vendor on an annual basis. The Company makes no adjustments to the pricing service data received for its securities available for sale. 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 mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. Cash flow hedge The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company is also required to measure and recognize certain other financial assets at fair value on a nonrecurring basis on the consolidated balance sheet. The following tables present assets measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Total Level 1 Level 2 Level 3 Impaired loans $ 9,474 $ — $ 1,456 $ 8,018 Other real estate owned 4,898 — 31 4,867 Total assets at fair value $ 14,372 $ — $ 1,487 $ 12,885 Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Total Level 1 Level 2 Level 3 Impaired loans $ 8,737 $ — $ 1,982 $ 6,755 Bank premises held for sale 110 — — 110 Other real estate owned 5,490 — 31 5,459 Total assets at fair value $ 14,337 $ — $ 2,013 $ 12,324 Total liabilities at fair value $ — $ — $ — $ — Impaired loans 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 the impairment in accordance with FASB ASC 310, Receivables . The fair value of impaired loans is estimated using one of several methods, including collateral 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 exceeds the recorded investments in such loans. At June 3 0 , 201 6 and December 31, 201 5 , a majority of total impaired loans were evaluated based on the fair value of the collateral. The Company frequently obtains appraisals prepared by external professional appraisers for classified loans greater than $250,000 when the most recent appraisal is greater than 18 months old and/or deemed to be invalid . 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 within Level 2. The Company may also identify collateral deterioration based on current market sales data, including price and absorption, as well as input from real estate sales professionals and developers, county or city tax assessments, market data and on-site inspections by Company personnel. Internally prepared estimates generally result from current market data and actual sales data related to the Company’s collateral or where the collateral is located. When management determines that 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 nonrecurring Level 3. In instances where an appraisal received subsequent to an internally prepared estimate reflects a higher collateral value, management does not revise the carrying amount. Impaired loans can also be evaluated for impairment using the present value of expected future cash flows discounted at the loan’s effective interest rate. The measurement of impaired loans using future cash flows discounted at the loan’s effective interest rate rather than the market rate of interest rate is not a fair value measurement and is therefore excluded from fair value disclosure requirements. Reviews of classified loans are performed by management on a quarterly basis. Bank premises and equipment held for sale The fair value of bank premises and equipment held for sale was determined using the adjusted appraisal methodology described in the other real estate owned (OREO) asset section below. Other real estate owned OREO assets are adjusted to fair value less estimated selling costs upon transfer of the related loans to OREO property. Subsequent to the transfer, valuations are periodically performed by management and the assets are carried at the lower of carrying value or fair value less estimated selling costs. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the foreclosed asset within Level 2. When an appraised value is not available or management determines that the fair value of the collateral is further impaired below the appraised value due to such things as absorption rates and market conditions, the Company records the foreclosed asset within Level 3 of the fair value hierarchy. Fair Value of Financial Instruments FASB ASC 825, Financial Instruments , requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring or nonrecurring basis. FASB ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The following reflects the fair value of financial instruments, whether or not recognized on the consolidated balance sheet, at fair value measures by level of valuation assumptions used for those assets. These tables exclude financial instruments for which the carrying value approximates fair value (dollars in thousands): June 30, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $49,192 $51,306 $ — $51,306 $ — Loans, net of allowance 775,582 777,957 — 769,939 8,018 PCI loans, net of allowance 54,282 63,048 — — 63,048 Financial liabilities: Interest bearing deposits 841,337 842,217 — 842,217 — Long-term borrowings 102,204 102,368 — 102,368 — December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $36,478 $37,611 $ — $37,611 $ — Loans, net of allowance 739,165 739,367 — 733,026 6,341 PCI loans, net of allowance 58,471 62,902 — — 62,902 Financial liabilities: Interest bearing deposits 849,303 850,770 — 850,770 — Long-term borrowings 105,455 105,476 — 105,476 — The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value as of June 3 0 , 201 6 . The Company applied the provisions of FASB ASC 820 to the fair value measurements of financial instruments not recognized on the consolidated balance sheet at fair value. The provisions requiring the Company to maximize the use of observable inputs and to measure fair value using a notion of exit price were factored into the Company’s selection of inputs into its established valuation techniques. Financial Assets Cash and cash equivalents The carrying amounts of cash and due from banks, interest bearing bank deposits, and federal funds sold approximate fair value (Level 1) . Securities held for investment For securities held for investment, fair values are based on quoted market prices or dealer quotes (Level 1 and 2) . Restricted securities The carrying value of restricted securities approximates their fair value based on the redemption provisions of the respective issuer (Level 2) . Loans held for sale The carrying amounts of loans held for sale approximate fair value (Level 2) . Loans The fair value 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. The fair value of impaired loans is consistent with the methodology used for the FASB ASC 820 disclosure for assets recorded at fair value on a nonrecurring basis presented above. PCI loans Fair values for PCI loans are based on a discounted cash flow methodology that considers various factors including the type of loan and related collateral, classification status, term of loan and whether or not the loans are amortizing. Loans were pooled together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on the rates used at acquisition (which were based on market rates for new originations of comparable loans) adjusted for any material changes in interest rates since acquisition. Increases in cash flow expectations since acquisition resulted in estimated fair value being higher than carrying value. The increase in cash flows is also reflected in a transfer from unaccretable yield to accretable yield as disclosed in Note 4. Accrued interest receivable The carrying amounts of accrued interest receivable approximate fair value (Level 2) . Financial Liabilities Noninterest bearing deposits The carrying amount of noninterest bearing deposits approximates fair value (Level 2) . Interest bearing deposits The fair value of NOW accounts, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using the rates currently offered for deposits of similar remaining maturities. Federal funds purchased The carrying amount of federal funds purchased approximates fair value (Level 2). Long-term borrowings The fair values of the Company’s long-term borrowings, such as FHLB advances and long-term debt, are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Accrued interest payable The carrying amounts of accrued interest payable approximate fair value (Level 2) . Off-balance sheet financial instruments The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of stand-by letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. The Company’s off-balance sheet commitments are funded at current market rates at the date they are drawn upon. It is management’s opinion that the fair value of these commitments would approximate their carrying value, if drawn upon. The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change, and that change may be either favorable or unfavorable. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Company’s overall interest rate risk. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Common Share [Abstract] | |
Earnings Per Common Share | Note 9 . Earnings Per Common Share Basic earnings per common share (EPS) is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of all potentially dilutive common shares outstanding attributable to stock instruments. The following table presents basic and diluted EPS for the three and six months ended June 30, 2016 and 2015 (dollars and shares in thousands, except per share data): Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Common Share Amount For the three months ended June 30, 2016 Basic EPS $ 2,318 21,897 $ 0.11 Effect of dilutive stock awards — 142 — Diluted EPS $ 2,318 22,039 $ 0.11 For the three months ended June 30, 2015 Basic EPS $ 1,693 21,821 $ 0.08 Effect of dilutive stock awards — 137 — Diluted EPS $ 1,693 21,958 $ 0.08 For the six months ended June 30, 2016 Basic EPS $ 4,738 21,885 $ 0.22 Effect of dilutive stock awards — 195 — Diluted EPS $ 4,738 22,080 $ 0.22 For the six months ended June 30, 2015 Basic EPS $ 3,005 21,810 $ 0.14 Effect of dilutive stock awards — 184 — Diluted EPS $ 3,005 21,994 $ 0.14 Antidilutive common shares issuable under awards or options of 259,000 were excluded from the computation of diluted earnings per common share for the three and six months ended June 3 0 , 201 6. There were no antidilutive exclusions from the computation of diluted earnings per common share for the three and six months ended June 30, 2015. |
Employee Benefit Plan
Employee Benefit Plan | 6 Months Ended |
Jun. 30, 2016 | |
Employee Benefit Plan [Abstract] | |
Employee Benefit Plan | Note 1 0 . Employee Benefit Plan The Company adopted the Bank of Essex noncontributory, defined benefit pension plan for all full-time pre-merger Bank of Essex employees over 21 years of age. Benefits are generally based upon years of service and the employees’ compensation. The Company funds pension costs in accordance with the funding provisions of the Employee Retirement Income Security Act. The Company has frozen the plan benefits for all the defined benefit plan participants effective December 31, 2010. The following table provides the components of net periodic benefit cost for the plan for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended June 30 Six months ended June 30 2016 2015 2016 2015 Interest cost $ 47 $ 47 $ 95 $95 Expected return on plan assets (81) (88) (163) (177) Amortization of prior service cost 1 1 2 2 Recognized net actuarial loss 13 11 26 22 Recognized net loss due to settlement 59 — 72 — Net periodic benefit cost $ 39 $ (29) $ 32 $(58) In accordance with FASB ASC 715, Compensation-Retirement Benefits , settlement accounting is triggered when lump sum payments to plan participants exceed the sum of the plan’s service cost and interest cost for the year. The impact of settlement accounting is that a percentage of any outstanding losses that the plan is currently amortizing must be recognized immediately. This percentage is calculated as the ratio of lump sums paid to the total liability for the plan. During the first quarter of 2016, settlement accounting was triggered and thus created a net loss due to settlement of $52,000 to be amortized during 2016. In May 2016, additional lump sum payments increased this loss by $182,000 for a total of $234,000 to be amortized during 2016. |
Cash Flow Hedge
Cash Flow Hedge | 6 Months Ended |
Jun. 30, 2016 | |
Cash Flow Hedge [Abstract] | |
Cash Flow Hedge | Note 1 1 . Cash Flow Hedge On November 7, 2014, the Company entered into an interest rate swap with a total notional amount of $30 million. The Company designated the swap as a cash flow hedge intended to protect against the variability in the expected future cash flows on the designated variable rate borrowings. The swap hedges the interest rate risk, wherein the Company will receive an interest rate based on the three month LIBOR from the counterparty and pays an interest rate of 1.69% to the same counterparty calculated on the notional amount for a term of five years. The Company intends to sequentially issue a series of three month fixed rate debt as part of a planned roll-over of short term debt for five years. The forecasted funding will be provided through one of the following wholesale funding sources: a new FHLB advance, a new repurchase agreement, or a pool of brokered CDs, based on whichever market offers the most advantageous pricing at the time that pricing is first initially determined for the effective date of the swap and each reset period thereafter. Each quarter when the Company rolls over the three month debt, it will decide at that time which funding source to use for that quarterly period. The swap was entered into with a counterparty that met the Company’s credit standards, and the agreement contains collateral provisions protecting the at-risk party. The Company believes that the credit risk inherent in the contract is not significant. T he Company had $850,000 and $440,000 of cash pledged as collateral as of June 30, 2016 and December 31, 2015, respectively. Amounts receivable or payable are recognized as accrued under the terms of the agreements. In accordance with FASB ASC 815, Derivatives and Hedging , the Company has designated the swap as a cash flow hedge, with the effective portions of the derivatives’ unrealized gains or losses recorded as a component of other comprehensive income. The ineffective portions of the unrealized gains or losses, if any, would be recorded in other operating expense. The Company has assessed the effectiveness of each hedging relationship by comparing the changes in cash flows on the designated hedged item. The Company’s cash flow hedge was deemed to be effective for the three and six months ended June 30, 2016 and 2015 . T he fair value of the Company’s cash flow hedge was an unrealized loss of $875,000 and $199,000 at June 30, 2016 and December 31, 2015, respectively, and was recorded in other liabilities. The loss was recorded as a component of other comprehensive income net of associated tax effects . |
Branch Sale
Branch Sale | 6 Months Ended |
Jun. 30, 2016 | |
Branch Sale [Abstract] | |
Branch Sale | Note 1 2 . Branch S ale On Marc h 18, 2016 , the Company sold its branch office in Catonsville , Maryland to JP Properties for a purchase price of $160,000 . The Company close d the office on March 4, 2016 . Loans and deposits are be ing serviced by the Company’s Rosedale branch office. The Catonsville branch office was classified as held for sale at December 31, 2015 at an estimated fair market val ue of $110,000 . After closing costs of $14,000 , the Company recognize d a gain of $ 3 6 ,000 . |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Securities [Abstract] | |
Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity | Amortized costs and fair values of securities available for sale and held to maturity at June 30, 2016 and December 31, 2015 were as follows ( dollars in thousands): June 30, 2016 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury issue and other U.S. Gov’t agencies $ 37,898 $ 99 $ (479) $ 37,518 U.S. Gov’t sponsored agencies 2,000 — — 2,000 State, county and municipal 122,840 6,562 (294) 129,108 Corporate and other bonds 14,199 25 (701) 13,523 Mortgage backed – U.S. Gov’t agencies 5,210 31 (1) 5,240 Mortgage backed – U.S. Gov’t sponsored agencies 16,345 150 (43) 16,452 Total Securities Available for Sale $ 198,492 $ 6,867 $ (1,518) $ 203,841 Securities Held to Maturity U.S. Treasury issue and other U.S. Gov’t agencies $ 13,501 $ 3 $ — $ 13,504 State, county and municipal 34,806 2,092 — 36,898 Mortgage backed – U.S. Gov’t agencies 885 19 — 904 Total Securities Held to Maturity $ 49,192 $ 2,114 $ — $ 51,306 December 31, 2015 Gross Unrealized Amortized Cost Gains Losses Fair Value Securities Available for Sale U.S. Treasury issue and other U.S. Gov’t agencies $ 50,590 $ 11 $ (660) $ 49,941 U.S. Gov’t sponsored agencies 756 — (14) 742 State, county and municipal 138,965 3,400 (867) 141,498 Corporate and other bonds 14,997 10 (711) 14,296 Mortgage backed – U.S. Gov’t agencies 8,654 9 (167) 8,496 Mortgage backed – U.S. Gov’t sponsored agencies 28,637 22 (362) 28,297 Total Securities Available for Sale $ 242,599 $ 3,452 $ (2,781) $ 243,270 Securities Held to Maturity State, county and municipal $ 35,456 $ 1,136 $ (35) $ 36,557 Mortgage backed – U.S. Gov’t agencies 1,022 32 — 1,054 Total Securities Held to Maturity $ 36,478 $ 1,168 $ (35) $ 37,611 |
Amortized Cost and Fair Value of Securities by Contractual Maturity | Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without any penalties. Held to Maturity Available for Sale (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 4,602 $ 4,617 $ 4,380 $ 4,414 Due after one year through five years 20,830 21,384 77,068 79,684 Due after five years through ten years 14,472 15,497 93,637 96,257 Due after ten years 9,288 9,808 23,407 23,486 Total securities $ 49,192 $ 51,306 $ 198,492 $ 203,841 |
Summary of Realized Gains and Losses on Sales of Securities | Gross realized gains and losses on sales of securities available for sale during the three and six months ended June 30, 2016 and 2015 were as follows (dollars in thousands) : Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Gross realized gains $ 278 $ 122 $ 1,032 $ 575 Gross realized losses (17) (130) (512) (286) Net securities gains $ 261 $ (8) $ 520 $ 289 |
Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale | The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at June 30, 2016 and December 31, 2015 were as follows (dollars in thousands): June 30, 2016 Less than 12 Months 12 Months or More Total Securities Available for Sale Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury issue and other U.S. Gov’t agencies $ 10,505 $ (76) $ 19,901 $ (403) $ 30,406 $ (479) State, county and municipal 1,075 (9) 4,986 (285) 6,061 (294) Corporate and other bonds 3,450 (218) 8,800 (483) 12,250 (701) Mortgage backed – U.S. Gov’t agencies - - 1,996 (1) 1,996 (1) Mortgage backed – U.S. Gov’t sponsored agencies 2,331 (41) 157 (2) 2,488 (43) Total $ 17,361 $ (344) $ 35,840 $ (1,174) $ 53,201 $ (1,518) December 31, 2015 Less than 12 Months 12 Months or More Total Securities Available for Sale Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss U.S. Treasury issue and other U.S. Gov’t agencies $ 20,408 $ (84) $ 28,063 $ (576) $ 48,471 $ (660) U.S. Gov’t sponsored agencies 742 (14) - - 742 (14) State, county and municipal 23,733 (252) 10,270 (615) 34,003 (867) Corporate and other bonds 8,996 (669) 3,290 (42) 12,286 (711) Mortgage backed – U.S. Gov’t agencies 6,386 (88) 1,919 (79) 8,305 (167) Mortgage backed – U.S. Gov’t sponsored agencies 24,129 (360) 175 (2) 24,304 (362) Total $ 84,394 $ (1,467) $ 43,717 $ (1,314) $ 128,111 $ (2,781) Securities Held to Maturity State, county and municipal $ 3,889 $ (35) $ - $ - $ 3,889 $ (35) |
Loans and Related Allowance f21
Loans and Related Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans and Related Allowance for Loan Losses [Abstract] | |
Summary of Loans | The Company’s loans, net of deferred fees and costs, at June 30, 2016 and December 31, 2015 were comprised of the following (dollars in thousands): June 30, 2016 December 31, 2015 Amount % of Loans Amount % of Loans Mortgage loans on real estate: Residential 1-4 family $ 204,639 26.07 % $ 194,576 25.99 % Commercial 325,394 41.45 317,955 42.47 Construction and land development 79,826 10.17 67,408 9.00 Second mortgages 8,212 1.05 8,378 1.12 Multifamily 44,585 5.68 45,389 6.06 Agriculture 7,988 1.02 6,238 0.83 Total real estate loans 670,644 85.44 639,944 85.47 Commercial loans 107,953 13.75 102,507 13.69 Consumer installment loans 5,125 0.65 4,928 0.66 All other loans 1,294 0.16 1,345 0.18 Total loans $ 785,016 100.00 % $ 748,724 100.00 % |
Summary of Information Related to Impaired Loans | The following table summarizes information related to impaired loans as of June 30, 2016 (dollars in thousands): With an allowance recorded: Recorded Investment (1) Unpaid Principal Balance (2) Related Allowance Mortgage loans on real estate: Residential 1-4 family $ 2,011 $ 2,608 $ 229 Commercial 348 513 50 Construction and land development 5,556 7,193 771 Total real estate loans 7,915 10,314 1,050 Commercial loans 54 54 8 Consumer installment loans 83 91 11 Subtotal impaired loans with a valuation allowance 8,052 10,459 1,069 With no related allowance recorded: Mortgage loans on real estate: Residential 1-4 family 1,965 2,129 — Commercial 1,354 1,742 — Construction and land development 149 182 — Second mortgages 135 135 — Total real estate loans 3,603 4,188 — Subtotal impaired loans without a valuation allowance 3,603 4,188 — Total: Mortgage loans on real estate: Residential 1-4 family 3,976 4,737 229 Commercial 1,702 2,255 50 Construction and land development 5,705 7,375 771 Second mortgages 135 135 — Total real estate loans 11,518 14,502 1,050 Commercial loans 54 54 8 Consumer installment loans 83 91 11 Total impaired loans $ 11,655 $ 14,647 $ 1,069 (1) The amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment (2) The contractual amount due, which reflects paydowns applied in accordance with loan documents, but which does not reflect any direct write-downs The following table summarizes information related to impaired loans as of December 31, 2015 (dollars in thousands): With an allowance recorded: Recorded Investment (1) Unpaid Principal Balance (2) Related Allowance Mortgage loans on real estate: Residential 1-4 family $ 2,777 $ 3,034 $ 414 Commercial 205 407 35 Construction and land development 4,509 6,179 574 Second mortgages 13 14 2 Total real estate loans 7,504 9,634 1,025 Consumer installment loans 78 84 14 Subtotal impaired loans with a valuation allowance 7,582 9,718 1,039 With no related allowance recorded: Mortgage loans on real estate: Residential 1-4 family 1,785 2,260 — Commercial 1,303 1,500 — Total real estate loans 3,088 3,760 — Subtotal impaired loans without a valuation allowance 3,088 3,760 — Total: Mortgage loans on real estate: Residential 1-4 family 4,562 5,294 414 Commercial 1,508 1,907 35 Construction and land development 4,509 6,179 574 Second mortgages 13 14 2 Total real estate loans 10,592 13,394 1,025 Consumer installment loans 78 84 14 Total impaired loans $ 10,670 $ 13,478 $ 1,039 (1) The amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment (2) The contractual amount due, which reflects paydowns applied in accordance with loan documents, but which does not reflect any direct write-downs |
Summary of Financial Receivable Impaired Average Recorded Investment | The following table summarizes the average recorded investment of impaired loans for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended Six months ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 4,166 $ 3,475 $ 4,269 $ 3,617 Commercial 1,751 1,786 1,605 1,232 Construction and land development 5,101 4,750 5,107 4,917 Second mortgages 142 61 74 61 Total real estate loans 11,160 10,072 11,055 9,827 Commercial loans 54 3,706 27 3,762 Consumer installment loans 82 87 81 103 Total impaired loans $ 11,296 $ 13,865 $ 11,163 $ 13,692 |
Age Analysis of Past Due Status of Loans, Excluding PCI Loans | The following tables present an age analysis of past due status of loans by category as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 30-89 Days Past Due Nonaccrual Total Past Due Current Total Loans Receivable Mortgage loans on real estate: Residential 1-4 family $ 632 $ 3,976 $ 4,608 $ 200,031 $ 204,639 Commercial 310 1,702 2,012 323,382 325,394 Construction and land development — 5,705 5,705 74,121 79,826 Second mortgages 25 135 160 8,052 8,212 Multifamily — — — 44,585 44,585 Agriculture — — — 7,988 7,988 Total real estate loans 967 11,518 12,485 658,159 670,644 Commercial loans 235 54 289 107,664 107,953 Consumer installment loans 23 83 106 5,019 5,125 All other loans 34 — 34 1,260 1,294 Total loans $ 1,259 $ 11,655 $ 12,914 $ 772,102 $ 785,016 December 31, 2015 30-89 Days Past Due Nonaccrual Total Past Due Current Total Loans Receivable Mortgage loans on real estate: Residential 1-4 family $ 811 $ 4,562 $ 5,373 $ 189,203 $ 194,576 Commercial 1,471 1,508 2,979 314,976 317,955 Construction and land development 51 4,509 4,560 62,848 67,408 Second mortgages 135 13 148 8,230 8,378 Multifamily — — — 45,389 45,389 Agriculture — — — 6,238 6,238 Total real estate loans 2,468 10,592 13,060 626,884 639,944 Commercial loans 16 — 16 102,491 102,507 Consumer installment loans 10 78 88 4,840 4,928 All other loans 33 — 33 1,312 1,345 Total loans $ 2,527 $ 10,670 $ 13,197 $ 735,527 $ 748,724 |
Allowance for Loan Losses on Loans, Excluding PCI Loans, by Segment | Activity in the allowance for loan losses on loans by segment for the three and six months ended June 30, 2016 and 2015 is presented in the following tables (dollars in thousands): Three months ended June 30, 2016 March 31, 2016 Provision Allocation Charge-offs Recoveries June 30, 2016 Mortgage loans on real estate: Residential 1-4 family $ 2,711 $ 50 $ (305) $ 14 $ 2,470 Commercial 3,524 145 (75) 17 3,611 Construction and land development 1,684 (98) — 1 1,587 Second mortgages 114 (68) — 1 47 Multifamily 362 (63) — — 299 Agriculture 16 10 — — 26 Total real estate loans 8,411 (24) (380) 33 8,040 Commercial loans 1,084 186 — 10 1,280 Consumer installment loans 92 34 (34) 11 103 All other loans 7 4 — — 11 Total loans $ 9,594 $ 200 $ (414) $ 54 $ 9,434 Three months ended June 30, 2015 March 31, 2015 Provision Allocation Charge-offs Recoveries June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 2,861 $ 743 $ — $ 8 $ 3,612 Commercial 2,571 979 — 9 3,559 Construction and land development 1,503 584 (455) 7 1,639 Second mortgages 55 (90) — 91 56 Multifamily 175 76 — — 251 Agriculture 70 7 — — 77 Total real estate loans 7,235 2,299 (455) 115 9,194 Commercial loans 1,650 (2,291) — 1,202 561 Consumer installment loans 97 (10) (34) 25 78 All other loans 29 2 — — 31 Total loans $ 9,011 $ — $ (489) $ 1,342 $ 9,864 Six months ended June 30, 2016 December 31, 2015 Provision Allocation Charge-offs Recoveries June 30, 2016 Mortgage loans on real estate: Residential 1-4 family $ 3,041 $ (357) $ (325) $ 111 $ 2,470 Commercial 4,022 (328) (112) 29 3,611 Construction and land development 1,353 232 — 2 1,587 Second mortgages 103 (62) — 6 47 Multifamily 178 121 — — 299 Agriculture 27 (1) — — 26 Total real estate loans 8,724 (395) (437) 148 8,040 Commercial loans 727 542 — 11 1,280 Consumer installment loans 97 53 (116) 69 103 All other loans 11 — — — 11 Total loans $ 9,559 $ 200 $ (553) $ 228 $ 9,434 Six months ended June 30, 2015 December 31, 2014 Provision Allocation Charge-offs Recoveries June 30, 2015 Mortgage loans on real estate: Residential 1-4 family $ 3,100 $ 755 $ (300) $ 57 $ 3,612 Commercial 2,618 926 — 15 3,559 Construction and land development 1,930 146 (455) 18 1,639 Second mortgages 63 (100) — 93 56 Multifamily 136 115 — — 251 Agriculture 66 11 — — 77 Total real estate loans 7,913 1,853 (755) 183 9,194 Commercial loans 1,242 (1,889) — 1,208 561 Consumer installment loans 85 32 (96) 57 78 All other loans 27 4 — — 31 Total loans $ 9,267 $ — $ (851) $ 1,448 $ 9,864 |
Loans Evaluated for Impairment | The Company recorded a $200,000 provision for the three and six months ended June 30, 2016 as additional general reserves to support current period loan growth. The following tables present information on the loans evaluated for impairment in the allowance for loan losses as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Mortgage loans on real estate: Residential 1-4 family $ 289 $ 2,181 $ 2,470 $ 5,760 $ 198,879 $ 204,639 Commercial 77 3,534 3,611 6,353 319,041 325,394 Construction and land development 771 816 1,587 5,705 74,121 79,826 Second mortgages — 47 47 135 8,077 8,212 Multifamily — 299 299 — 44,585 44,585 Agriculture — 26 26 — 7,988 7,988 Total real estate loans 1,137 6,903 8,040 17,953 652,691 670,644 Commercial loans 8 1,272 1,280 95 107,858 107,953 Consumer installment loans 12 91 103 327 4,798 5,125 All other loans — 11 11 — 1,294 1,294 Total loans $ 1,157 $ 8,277 $ 9,434 $ 18,375 $ 766,641 $ 785,016 December 31, 2015 Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Individually Evaluated for Impairment (1) Collectively Evaluated for Impairment Total Mortgage loans on real estate: Residential 1-4 family $ 450 $ 2,591 $ 3,041 $ 6,972 $ 187,604 $ 194,576 Commercial 55 3,967 4,022 6,362 311,593 317,955 Construction and land development 564 789 1,353 4,509 62,899 67,408 Second mortgages 2 101 103 13 8,365 8,378 Multifamily — 178 178 — 45,389 45,389 Agriculture — 27 27 — 6,238 6,238 Total real estate loans 1,071 7,653 8,724 17,856 622,088 639,944 Commercial loans — 727 727 58 102,449 102,507 Consumer installment loans 12 85 97 78 4,850 4,928 All other loans — 11 11 — 1,345 1,345 Total loans $ 1,083 $ 8,476 $ 9,559 $ 17,992 $ 730,732 $ 748,724 (1) The category “Individually Evaluated for Impairment” includes loans individually evaluated for impairment and determined not to be impaired. These loans totalled $6.7 million and $7. 3 million at June 30, 2016 and December 31, 2015, respectively. The allowance for loan losses allocated to these loans was $88,000 and $44,000 at June 30, 2016 and December 31, 2015, respectively . |
Loans, Excluding PCI Loans, by Credit Quality Indicator | The following tables present the composition of loans by credit quality indicator at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1-4 family $ 193,784 $ 6,474 $ 4,381 $ — $ 204,639 Commercial 318,883 3,188 3,323 — 325,394 Construction and land development 73,901 220 5,705 — 79,826 Second mortgages 7,551 526 135 — 8,212 Multifamily 37,059 7,526 — — 44,585 Agriculture 7,866 122 — — 7,988 Total real estate loans 639,044 18,056 13,544 — 670,644 Commercial loans 104,903 2,955 95 — 107,953 Consumer installment loans 5,021 21 83 — 5,125 All other loans 1,294 — — — 1,294 Total loans $ 750,262 $ 21,032 $ 13,722 $ — $ 785,016 December 31, 2015 Pass Special Mention Substandard Doubtful Total Mortgage loans on real estate: Residential 1-4 family $ 182,394 $ 6,612 $ 5,570 $ — $ 194,576 Commercial 306,267 8,520 3,168 — 317,955 Construction and land development 62,391 434 4,583 — 67,408 Second mortgages 7,126 1,239 13 — 8,378 Multifamily 45,389 — — — 45,389 Agriculture 6,113 125 — — 6,238 Total real estate loans 609,680 16,930 13,334 — 639,944 Commercial loans 98,159 4,290 58 — 102,507 Consumer installment loans 4,593 256 79 — 4,928 All other loans 1,345 — — — 1,345 Total loans $ 713,777 $ 21,476 $ 13,471 $ — $ 748,724 |
PCI Loans and Related Allowan22
PCI Loans and Related Allowance for Loan Losses (Tables) - Covered Loans [Member] | 6 Months Ended |
Jun. 30, 2016 | |
Summary of PCI Loans | The carrying amount, by loan type, as of these dates is as follows (dollars in thousands): June 30, 2016 December 31, 2015 Amount % of PCI Loans Amount % of PCI Loans Mortgage loans on real estate: Residential 1-4 family $ 49,26 4 89.95 % $ 52,696 89.38 % Commercial 705 1.29 850 1.44 Construction and land development 2,029 3.71 2,310 3.92 Second mortgages 2,494 4.55 2,822 4.79 Multifamily 274 0.50 277 0.47 Total real estate loans 54,766 100.00 58,955 100.00 Total PCI loans $ 54,76 6 100.00 % $ 58,955 100.00 % |
Summary of Purchased Credit Impaired Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses | The following table presents information on the PCI loans collectively evaluated for impairment in the allowance for loan losses at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Mortgage loans on real estate: Residential 1-4 family $484 $49,264 $484 $52,696 Commercial — 705 — 850 Construction and land development — 2,029 — 2,310 Second mortgages — 2,494 — 2,822 Multifamily — 274 — 277 Total real estate loans 484 54,766 484 58,955 Total PCI loans $484 $54,766 $484 $58,955 |
Summary of Changes in the Accretable Yield | The change in the accretable yield balance for the six months ended June 30, 2016 and the year ended December 31, 2015, is as follows (dollars in thousands): Balance, January 1, 2015 $ 51,082 Accretion (7,811) Reclassification from nonaccretable yield 5,857 Balance, December 31, 2015 49,128 Accretion (3,132) Reclassification from nonaccretable yield 3,805 Balance, June 30, 2016 $ 49,801 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Other Real Estate Owned [Abstract] | |
Schedule of Other Real Estate Owned | The following table presents the balances of other real estate owned at June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 Residential 1-4 family $ 968 $ 1,407 Commercial 643 634 Construction and land development 3,287 3,449 Total other real estate owned $ 4,898 $ 5,490 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Deposits [Abstract] | |
Summary of Interest Bearing Deposits | The following table provides interest bearing deposit information, by type, as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 December 31, 2015 NOW $ 133,362 $ 128,761 MMDA 107,067 108,810 Savings 85,063 84,047 Time deposits less than or equal to $250,000 402,434 409,085 Time deposits over $250,000 113,411 118,600 Total interest bearing deposits $ 841,337 $ 849,303 |
Accumulated Other Comprehensi25
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Accumulated Other Comprehensive Income [Abstract] | |
Summary of Accumulated Other Comprehensive Income | The following tables present activity net of tax in accumulated other comprehensive income (loss) (AOCI) for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended June 30, 2016 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 2,617 $ (901) $ (493) $ 1,223 Other comprehensive income before reclassifications 1,085 - (85) 1,000 Amounts reclassified from AOCI (172) - - (172) Net current period other comprehensive income (loss) 913 - (85) 828 Ending balance $ 3,530 $ (901) $ (578) $ 2,051 Three months ended June 30, 2015 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 2,427 $ (811) $ (226) $ 1,390 Other comprehensive income before reclassifications (2,624) - 142 (2,482) Amounts reclassified from AOCI 5 - - 5 Net current period other comprehensive (loss) income (2,619) - 142 (2,477) Ending balance $ (192) $ (811) $ (84) $ (1,087) Six months ended June 30, 2016 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 443 $ (901) $ (131) $ (589) Other comprehensive income before reclassifications 3,430 - (447) 2,983 Amounts reclassified from AOCI (343) - - (343) Net current period other comprehensive income (loss) 3,087 - (447) 2,640 Ending balance $ 3,530 $ (901) $ (578) $ 2,051 Six months ended June 30, 2015 Unrealized Gain (Loss) on Securities Defined Benefit Pension Plan Gain/Loss on Cash Flow Hedge Total Other Comprehensive Income (Loss) Beginning balance $ 1,452 $ (811) $ 23 $ 664 Other comprehensive income before reclassifications (1,453) - (107) (1,560) Amounts reclassified from AOCI (191) - - (191) Net current period other comprehensive (loss) income (1,644) - (107) (1,751) Ending balance $ (192) $ (811) $ (84) $ (1,087) |
Effects of Reclassifications Out of AOCI | The following table presents the effects of reclassifications out of AOCI on line items of consolidated income for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Details about AOCI Components Amount Reclassified from AOCI Affected Line Item in the Unaudited Consolidated Statement of Income Three months ended June 30, 2016 June 30, 2015 Unrealized ( gain ) loss on securities available for sale $ (261) $ 8 Gain (loss) on securities transactions, net 89 (3) Income tax expense $ (172) $ 5 Net of tax Details about AOCI Components Amount Reclassified from AOCI Affected Line Item in the Unaudited Consolidated Statement of Income Six months ended June 30, 2016 June 30, 2015 Unrealized ( gain ) loss on securities available for sale $ (520) $ (289) Gain (loss) on securities transactions, net 177 98 Income tax expense $ (343) $ (191) Net of tax |
Fair Values of Assets and Lia26
Fair Values of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Values of Assets and Liabilities [Abstract] | |
Assets and Liabilities Recorded at Fair Value on Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (dollars in thousands): June 30, 2016 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury issue and other U.S. Gov’t agencies $ 37,518 $ 31,722 $ 5,796 $ - U.S. Gov’t sponsored agencies 2,000 2,000 - - State, county and municipal 129,108 1,126 127,982 - Corporate and other bonds 13,523 - 13,523 - Mortgage backed – U.S. Gov’t agencies 5,240 - 5,240 - Mortgage backed – U.S. Gov’t sponsored agencies 16,452 - 16,452 - Total investment securities available for sale 203,841 34,848 168,993 - Total assets at fair value $ 203,841 $ 34,848 $ 168,993 $ - Cash flow hedge $ (875) $ - $ (875) $ - Total liabilities at fair value $ (875) $ - $ (875) $ - December 31, 2015 Total Level 1 Level 2 Level 3 Investment securities available for sale U.S. Treasury issue and other U.S. Gov’t agencies $ 49,941 $ 39,748 $ 10,193 $ - U.S. Gov’t sponsored agencies 742 - 742 - State, county and municipal 141,498 687 140,811 - Corporate and other bonds 14,296 - 14,296 - Mortgage backed – U.S. Gov’t agencies 8,496 - 8,496 - Mortgage backed – U.S. Gov’t sponsored agencies 28,297 - 28,297 - Total investment securities available for sale 243,270 40,435 202,835 - Total assets at fair value $ 243,270 $ 40,435 $ 202,835 $ - Cash flow hedge $ (199) $ - $ (199) $ - Total liabilities at fair value $ (199) $ - $ (199) $ - |
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The following tables present assets measured at fair value on a nonrecurring basis as of June 30, 2016 and December 31, 2015 (dollars in thousands): June 30, 2016 Total Level 1 Level 2 Level 3 Impaired loans $ 9,474 $ — $ 1,456 $ 8,018 Other real estate owned 4,898 — 31 4,867 Total assets at fair value $ 14,372 $ — $ 1,487 $ 12,885 Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 Total Level 1 Level 2 Level 3 Impaired loans $ 8,737 $ — $ 1,982 $ 6,755 Bank premises held for sale 110 — — 110 Other real estate owned 5,490 — 31 5,459 Total assets at fair value $ 14,337 $ — $ 2,013 $ 12,324 Total liabilities at fair value $ — $ — $ — $ — |
Summary of Fair Value of Financial Instruments | These tables exclude financial instruments for which the carrying value approximates fair value (dollars in thousands): June 30, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $49,192 $51,306 $ — $51,306 $ — Loans, net of allowance 775,582 777,957 — 769,939 8,018 PCI loans, net of allowance 54,282 63,048 — — 63,048 Financial liabilities: Interest bearing deposits 841,337 842,217 — 842,217 — Long-term borrowings 102,204 102,368 — 102,368 — December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets: Securities held to maturity $36,478 $37,611 $ — $37,611 $ — Loans, net of allowance 739,165 739,367 — 733,026 6,341 PCI loans, net of allowance 58,471 62,902 — — 62,902 Financial liabilities: Interest bearing deposits 849,303 850,770 — 850,770 — Long-term borrowings 105,455 105,476 — 105,476 — |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Common Share [Abstract] | |
Computation of Earnings per Share | The following table presents basic and diluted EPS for the three and six months ended June 30, 2016 and 2015 (dollars and shares in thousands, except per share data): Net Income (Numerator) Weighted Average Common Shares (Denominator) Per Common Share Amount For the three months ended June 30, 2016 Basic EPS $ 2,318 21,897 $ 0.11 Effect of dilutive stock awards — 142 — Diluted EPS $ 2,318 22,039 $ 0.11 For the three months ended June 30, 2015 Basic EPS $ 1,693 21,821 $ 0.08 Effect of dilutive stock awards — 137 — Diluted EPS $ 1,693 21,958 $ 0.08 For the six months ended June 30, 2016 Basic EPS $ 4,738 21,885 $ 0.22 Effect of dilutive stock awards — 195 — Diluted EPS $ 4,738 22,080 $ 0.22 For the six months ended June 30, 2015 Basic EPS $ 3,005 21,810 $ 0.14 Effect of dilutive stock awards — 184 — Diluted EPS $ 3,005 21,994 $ 0.14 |
Employee Benefit Plan (Tables)
Employee Benefit Plan (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Employee Benefit Plan [Abstract] | |
Components of Net Periodic Benefit Cost for Plan | The following table provides the components of net periodic benefit cost for the plan for the three and six months ended June 30, 2016 and 2015 (dollars in thousands): Three months ended June 30 Six months ended June 30 2016 2015 2016 2015 Interest cost $ 47 $ 47 $ 95 $95 Expected return on plan assets (81) (88) (163) (177) Amortization of prior service cost 1 1 2 2 Recognized net actuarial loss 13 11 26 22 Recognized net loss due to settlement 59 — 72 — Net periodic benefit cost $ 39 $ (29) $ 32 $(58) |
Nature of Banking Activities 29
Nature of Banking Activities and Significant Accounting Policies (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2016property | |
Organization And Significant Accounting Policies [Line Items] | |
Number of full-service offices | 22 |
Virginia [Member] | |
Organization And Significant Accounting Policies [Line Items] | |
Number of loan production offices | 1 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($)security | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)security | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Schedule Of Marketable Securities [Line Items] | |||||
Proceeds from sales of securities | $ 20,100 | $ 15,600 | $ 71,500 | $ 56,200 | |
Investments held having OTTI losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of securities with unrealized losses | security | 55 | 55 | |||
Investment grade corporate obligations comprise securities with unrealized losses | security | 20 | ||||
Securities with amortized costs | $ 71,400 | $ 71,400 | $ 88,700 | ||
Securities purchased from single issuer other than U.S. Treasury issue and other U.S. Government agencies | $ 0 | $ 0 | $ 0 | ||
Minimum percentage of securities purchased from U.S. Treasury issue and other U.S. Government agencies | 10.00% | 10.00% | |||
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | |||||
Schedule Of Marketable Securities [Line Items] | |||||
Securities with investment grade | security | 35 |
Securities (Amortized Costs and
Securities (Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | $ 198,492 | $ 242,599 |
Securities Available for Sale, Gross Unrealized Gains | 6,867 | 3,452 |
Securities Available for Sale, Gross Unrealized Losses | (1,518) | (2,781) |
Securities Available for Sale, Fair Value | 203,841 | 243,270 |
Securities Held to Maturity, Amortized Cost | 49,192 | 36,478 |
Securities Held to Maturity, Gross Unrealized Gains | 2,114 | 1,168 |
Securities Held to Maturity, Gross Unrealized Losses | (35) | |
Securities Held to Maturity, Fair Value | 51,306 | 37,611 |
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 37,898 | 50,590 |
Securities Available for Sale, Gross Unrealized Gains | 99 | 11 |
Securities Available for Sale, Gross Unrealized Losses | (479) | (660) |
Securities Available for Sale, Fair Value | 37,518 | 49,941 |
Securities Held to Maturity, Amortized Cost | 13,501 | |
Securities Held to Maturity, Gross Unrealized Gains | 3 | |
Securities Held to Maturity, Fair Value | 13,504 | |
U.S. Gov't Sponsored Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 2,000 | 756 |
Securities Available for Sale, Gross Unrealized Losses | (14) | |
Securities Available for Sale, Fair Value | 2,000 | 742 |
State, County and Municipal [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 122,840 | 138,965 |
Securities Available for Sale, Gross Unrealized Gains | 6,562 | 3,400 |
Securities Available for Sale, Gross Unrealized Losses | (294) | (867) |
Securities Available for Sale, Fair Value | 129,108 | 141,498 |
Securities Held to Maturity, Amortized Cost | 34,806 | 35,456 |
Securities Held to Maturity, Gross Unrealized Gains | 2,092 | 1,136 |
Securities Held to Maturity, Gross Unrealized Losses | (35) | |
Securities Held to Maturity, Fair Value | 36,898 | 36,557 |
Corporate and Other Bonds [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 14,199 | 14,997 |
Securities Available for Sale, Gross Unrealized Gains | 25 | 10 |
Securities Available for Sale, Gross Unrealized Losses | (701) | (711) |
Securities Available for Sale, Fair Value | 13,523 | 14,296 |
Mortgage Backed - U.S. Gov't Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 5,210 | 8,654 |
Securities Available for Sale, Gross Unrealized Gains | 31 | 9 |
Securities Available for Sale, Gross Unrealized Losses | (1) | (167) |
Securities Available for Sale, Fair Value | 5,240 | 8,496 |
Securities Held to Maturity, Amortized Cost | 885 | 1,022 |
Securities Held to Maturity, Gross Unrealized Gains | 19 | 32 |
Securities Held to Maturity, Gross Unrealized Losses | ||
Securities Held to Maturity, Fair Value | 904 | 1,054 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Securities Available for Sale, Amortized Cost | 16,345 | 28,637 |
Securities Available for Sale, Gross Unrealized Gains | 150 | 22 |
Securities Available for Sale, Gross Unrealized Losses | (43) | (362) |
Securities Available for Sale, Fair Value | $ 16,452 | $ 28,297 |
Securities (Amortized Cost and
Securities (Amortized Cost and Fair Value of Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Securities [Abstract] | ||
Due in one year or less, Held to Maturity, Amortized Cost | $ 4,602 | |
Due after one year through five years, Held to Maturity, Amortized Cost | 20,830 | |
Due after five years through ten years, Held to Maturity, Amortized Cost | 14,472 | |
Due after ten years, Held to Maturity, Amortized Cost | 9,288 | |
Total securities, Held to Maturity, Amortized Cost | 49,192 | $ 36,478 |
Due in one year or less, Held to Maturity, Fair Value | 4,617 | |
Due after one year through five years, Held to Maturity, Fair Value | 21,384 | |
Due after five years through ten years, Held to Maturity, Fair Value | 15,497 | |
Due after ten years, Held to Maturity, Fair Value | 9,808 | |
Securities Held to Maturity, Fair Value | 51,306 | 37,611 |
Due in one year or less, Available for Sale, Amortized Cost | 4,380 | |
Due after one year through five years, Available for Sale, Amortized Cost | 77,068 | |
Due after five years through ten years, Available for Sale, Amortized Cost | 93,637 | |
Due after ten years, Available for Sale, Amortized Cost | 23,407 | |
Securities Available for Sale, Amortized Cost | 198,492 | 242,599 |
Due in one year or less, Available for Sale, Fair Value | 4,414 | |
Due after one year through five years, Available for Sale, Fair Value | 79,684 | |
Due after five years through ten years, Available for Sale, Fair Value | 96,257 | |
Due after ten years, Available for Sale, Fair Value | 23,486 | |
Securities Available for Sale, Fair Value | $ 203,841 | $ 243,270 |
Securities (Summary of Realized
Securities (Summary of Realized Gains and Losses on Sales of Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Securities [Abstract] | ||||
Gross realized gains | $ 278 | $ 122 | $ 1,032 | $ 575 |
Gross realized losses | (17) | (130) | (512) | (286) |
Net securities gains | $ 261 | $ (8) | $ 520 | $ 289 |
Securities (Summary of Fair Val
Securities (Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | $ 17,361 | $ 84,394 |
Unrealized Loss, Less than 12 Months | (344) | (1,467) |
Fair Value, 12 Months or More | 35,840 | 43,717 |
Unrealized Loss, 12 Months or More | (1,174) | (1,314) |
Fair Value, Total | 53,201 | 128,111 |
Unrealized Loss, Total | (1,518) | (2,781) |
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 10,505 | 20,408 |
Unrealized Loss, Less than 12 Months | (76) | (84) |
Fair Value, 12 Months or More | 19,901 | 28,063 |
Unrealized Loss, 12 Months or More | (403) | (576) |
Fair Value, Total | 30,406 | 48,471 |
Unrealized Loss, Total | (479) | (660) |
U.S. Gov't Sponsored Agencies [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 742 | |
Unrealized Loss, Less than 12 Months | (14) | |
Fair Value, Total | 742 | |
Unrealized Loss, Total | (14) | |
State, County and Municipal [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 1,075 | 23,733 |
Unrealized Loss, Less than 12 Months | (9) | (252) |
Fair Value, 12 Months or More | 4,986 | 10,270 |
Unrealized Loss, 12 Months or More | (285) | (615) |
Fair Value, Total | 6,061 | 34,003 |
Unrealized Loss, Total | (294) | (867) |
Securities Held to Maturity | ||
Fair Value, Less than 12 Months | 3,889 | |
Unrealized Loss, Less than 12 Months | (35) | |
Fair Value, Total | 3,889 | |
Unrealized Loss, Total | (35) | |
Corporate and Other Bonds [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 3,450 | 8,996 |
Unrealized Loss, Less than 12 Months | (218) | (669) |
Fair Value, 12 Months or More | 8,800 | 3,290 |
Unrealized Loss, 12 Months or More | (483) | (42) |
Fair Value, Total | 12,250 | 12,286 |
Unrealized Loss, Total | (701) | (711) |
Mortgage Backed - U.S. Gov't Agencies [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 6,386 | |
Unrealized Loss, Less than 12 Months | (88) | |
Fair Value, 12 Months or More | 1,996 | 1,919 |
Unrealized Loss, 12 Months or More | (1) | (79) |
Fair Value, Total | 1,996 | 8,305 |
Unrealized Loss, Total | (1) | (167) |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Secutities Available for Sale | ||
Fair Value, Less than 12 Months | 2,331 | 24,129 |
Unrealized Loss, Less than 12 Months | (41) | (360) |
Fair Value, 12 Months or More | 157 | 175 |
Unrealized Loss, 12 Months or More | (2) | (2) |
Fair Value, Total | 2,488 | 24,304 |
Unrealized Loss, Total | $ (43) | $ (362) |
Loans and Related Allowance f35
Loans and Related Allowance for Loan Losses (Narrative) (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)loan | Jun. 30, 2015USD ($)loan | Dec. 31, 2015USD ($)loan | Mar. 31, 2016 | |
Financing Receivable, Recorded Investment [Line Items] | ||||||
Purchased government-guaranteed loans | $ 785,016,000 | $ 785,016,000 | $ 748,724,000 | |||
Recoveries | 54,000 | $ 1,342,000 | 228,000 | $ 1,448,000 | ||
Cash basis interest income recognized | 260,000 | 465,000 | ||||
Estimated interest income | 219,000 | 225,000 | $ 409,000 | 420,000 | ||
Number of contracts | loan | 0 | 0 | ||||
1-4 family mortgages pledged as collateral to the Federal Bank Home Loan | 149,500,000 | $ 149,500,000 | ||||
Total borrowing capacity | 134,900,000 | 134,900,000 | ||||
Provision for loan losses | 200,000 | $ 200,000 | ||||
Residential 1-4 Family [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Number of contracts | loan | 1 | 1 | ||||
Pre-modification balance | 81,000 | $ 81,000 | $ 68,000 | |||
Post-modification balance | 97,000 | 97,000 | 68,000 | |||
Nonaccruing Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Interest income recognized on impaired loans | 0 | $ 0 | ||||
Guaranteed Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Purchased government-guaranteed loans | 15,000,000 | 15,000,000 | 13,400,000 | |||
Percentage of loans guaranteed by the USDA | 100.00% | |||||
Unamortized purchase premium | 731,000 | 731,000 | 586,000 | |||
Purchased government-guaranteed loans | 15,000,000 | 15,000,000 | $ 13,400,000 | |||
Consumer Installment Loans [Member] | ||||||
Financing Receivable, Recorded Investment [Line Items] | ||||||
Recoveries | 11,000 | 25,000 | $ 69,000 | 57,000 | ||
Number of contracts | loan | 1 | |||||
Post-modification balance | $ 248,000 | |||||
Provision for loan losses | $ 34,000 | $ (10,000) | $ 53,000 | $ 32,000 |
Loans and Related Allowance f36
Loans and Related Allowance for Loan Losses (Summary of Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 785,016 | $ 748,724 |
Percent of loans | 100.00% | 100.00% |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 670,644 | $ 639,944 |
Percent of loans | 85.44% | 85.47% |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 204,639 | $ 194,576 |
Percent of loans | 26.07% | 25.99% |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 325,394 | $ 317,955 |
Percent of loans | 41.45% | 42.47% |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 79,826 | $ 67,408 |
Percent of loans | 10.17% | 9.00% |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 8,212 | $ 8,378 |
Percent of loans | 1.05% | 1.12% |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 44,585 | $ 45,389 |
Percent of loans | 5.68% | 6.06% |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 7,988 | $ 6,238 |
Percent of loans | 1.02% | 0.83% |
Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 107,953 | $ 102,507 |
Percent of loans | 13.75% | 13.69% |
Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 5,125 | $ 4,928 |
Percent of loans | 0.65% | 0.66% |
All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 1,294 | $ 1,345 |
Percent of loans | 0.16% | 0.18% |
Loans and Related Allowance f37
Loans and Related Allowance for Loan Losses (Summary of Information Related to Impaired Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | $ 8,052 | $ 7,582 |
With a related allowance, Unpaid Principal Balance | [2] | 10,459 | 9,718 |
With no related allowance recorded, Recorded Investment | [1] | 3,603 | 3,088 |
With no related allowance recorded, Unpaid Principal Balance | [2] | 4,188 | 3,760 |
Total, Recorded Investment | [1] | 11,655 | 10,670 |
Total, Unpaid Principal Balance | [2] | 14,647 | 13,478 |
Related Allowance | 1,069 | 1,039 | |
Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 7,915 | 7,504 |
With a related allowance, Unpaid Principal Balance | [2] | 10,314 | 9,634 |
With no related allowance recorded, Recorded Investment | [1] | 3,603 | 3,088 |
With no related allowance recorded, Unpaid Principal Balance | [2] | 4,188 | 3,760 |
Total, Recorded Investment | [1] | 11,518 | 10,592 |
Total, Unpaid Principal Balance | [2] | 14,502 | 13,394 |
Related Allowance | 1,050 | 1,025 | |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 2,011 | 2,777 |
With a related allowance, Unpaid Principal Balance | [2] | 2,608 | 3,034 |
With no related allowance recorded, Recorded Investment | [1] | 1,965 | 1,785 |
With no related allowance recorded, Unpaid Principal Balance | [2] | 2,129 | 2,260 |
Total, Recorded Investment | [1] | 3,976 | 4,562 |
Total, Unpaid Principal Balance | [2] | 4,737 | 5,294 |
Related Allowance | 229 | 414 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 348 | 205 |
With a related allowance, Unpaid Principal Balance | [2] | 513 | 407 |
With no related allowance recorded, Recorded Investment | [1] | 1,354 | 1,303 |
With no related allowance recorded, Unpaid Principal Balance | [2] | 1,742 | 1,500 |
Total, Recorded Investment | [1] | 1,702 | 1,508 |
Total, Unpaid Principal Balance | [2] | 2,255 | 1,907 |
Related Allowance | 50 | 35 | |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 5,556 | 4,509 |
With a related allowance, Unpaid Principal Balance | [2] | 7,193 | 6,179 |
With no related allowance recorded, Recorded Investment | [1] | 149 | |
With no related allowance recorded, Unpaid Principal Balance | [2] | 182 | |
Total, Recorded Investment | [1] | 5,705 | 4,509 |
Total, Unpaid Principal Balance | [2] | 7,375 | 6,179 |
Related Allowance | 771 | 574 | |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 13 | |
With a related allowance, Unpaid Principal Balance | [2] | 14 | |
With no related allowance recorded, Recorded Investment | [1] | 135 | |
With no related allowance recorded, Unpaid Principal Balance | [2] | 135 | |
Total, Recorded Investment | [1] | 135 | 13 |
Total, Unpaid Principal Balance | [2] | 135 | 14 |
Related Allowance | 2 | ||
Commercial Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 54 | |
With a related allowance, Unpaid Principal Balance | [2] | 54 | |
Total, Recorded Investment | [1] | 54 | |
Total, Unpaid Principal Balance | [2] | 54 | |
Related Allowance | 8 | ||
Consumer Installment Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | [1] | 83 | 78 |
With a related allowance, Unpaid Principal Balance | [2] | 91 | 84 |
Total, Recorded Investment | [1] | 83 | 78 |
Total, Unpaid Principal Balance | [2] | 91 | 84 |
Related Allowance | $ 11 | $ 14 | |
[1] | The amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment | ||
[2] | The contractual amount due, which reflects paydowns applied in accordance with loan documents, but which does not reflect any direct write-downs |
Loans and Related Allowance f38
Loans and Related Allowance for Loan Losses (Summary of Financial Receivable Impaired Average Recorded Investment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | $ 11,296 | $ 13,865 | $ 11,163 | $ 13,692 |
Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 11,160 | 10,072 | 11,055 | 9,827 |
Commercial Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 54 | 3,706 | 27 | 3,762 |
Consumer Installment Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 82 | 87 | 81 | 103 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 4,166 | 3,475 | 4,269 | 3,617 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 1,751 | 1,786 | 1,605 | 1,232 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | 5,101 | 4,750 | 5,107 | 4,917 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Average Recorded Investment | $ 142 | $ 61 | $ 74 | $ 61 |
Loans and Related Allowance f39
Loans and Related Allowance for Loan Losses (Age Analysis of Past Due Status of Loans, Excluding PCI Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 785,016 | $ 748,724 |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 670,644 | 639,944 |
Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 107,953 | 102,507 |
Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,125 | 4,928 |
All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,294 | 1,345 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 204,639 | 194,576 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 325,394 | 317,955 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 79,826 | 67,408 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 8,212 | 8,378 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 44,585 | 45,389 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 7,988 | 6,238 |
Loans Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 12,914 | 13,197 |
Current | 772,102 | 735,527 |
Total Loans | 785,016 | 748,724 |
Loans Excluding PCI Loans [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,259 | 2,527 |
Loans Excluding PCI Loans [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 11,655 | 10,670 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 12,485 | 13,060 |
Current | 658,159 | 626,884 |
Total Loans | 670,644 | 639,944 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 967 | 2,468 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 11,518 | 10,592 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 289 | 16 |
Current | 107,664 | 102,491 |
Total Loans | 107,953 | 102,507 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 235 | 16 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 54 | |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 106 | 88 |
Current | 5,019 | 4,840 |
Total Loans | 5,125 | 4,928 |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 23 | 10 |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 83 | 78 |
Loans Excluding PCI Loans [Member] | All Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 34 | 33 |
Current | 1,260 | 1,312 |
Total Loans | 1,294 | 1,345 |
Loans Excluding PCI Loans [Member] | All Other Loans [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 34 | 33 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 4,608 | 5,373 |
Current | 200,031 | 189,203 |
Total Loans | 204,639 | 194,576 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 632 | 811 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 3,976 | 4,562 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 2,012 | 2,979 |
Current | 323,382 | 314,976 |
Total Loans | 325,394 | 317,955 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 310 | 1,471 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 1,702 | 1,508 |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 5,705 | 4,560 |
Current | 74,121 | 62,848 |
Total Loans | 79,826 | 67,408 |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 51 | |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 5,705 | 4,509 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 160 | 148 |
Current | 8,052 | 8,230 |
Total Loans | 8,212 | 8,378 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | 30-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 25 | 135 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | 90 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Past Due | 135 | 13 |
Loans Excluding PCI Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 44,585 | 45,389 |
Total Loans | 44,585 | 45,389 |
Loans Excluding PCI Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Current | 7,988 | 6,238 |
Total Loans | $ 7,988 | $ 6,238 |
Loans and Related Allowance f40
Loans and Related Allowance for Loan Losses (Allowance for Loan Losses on Loans, Excluding PCI Loans, by Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | $ 9,594 | $ 9,011 | $ 9,559 | $ 9,267 |
Provision Allocation | 200 | 200 | ||
Charge-offs | (414) | (489) | (553) | (851) |
Recoveries | 54 | 1,342 | 228 | 1,448 |
Allowance for loan losses, End of Period | 9,434 | 9,864 | 9,434 | 9,864 |
Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 8,411 | 7,235 | 8,724 | 7,913 |
Provision Allocation | (24) | 2,299 | (395) | 1,853 |
Charge-offs | (380) | (455) | (437) | (755) |
Recoveries | 33 | 115 | 148 | 183 |
Allowance for loan losses, End of Period | 8,040 | 9,194 | 8,040 | 9,194 |
Commercial Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 1,084 | 1,650 | 727 | 1,242 |
Provision Allocation | 186 | (2,291) | 542 | (1,889) |
Recoveries | 10 | 1,202 | 11 | 1,208 |
Allowance for loan losses, End of Period | 1,280 | 561 | 1,280 | 561 |
Consumer Installment Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 92 | 97 | 97 | 85 |
Provision Allocation | 34 | (10) | 53 | 32 |
Charge-offs | (34) | (34) | (116) | (96) |
Recoveries | 11 | 25 | 69 | 57 |
Allowance for loan losses, End of Period | 103 | 78 | 103 | 78 |
All Other Loans [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 7 | 29 | 11 | 27 |
Provision Allocation | 4 | 2 | 4 | |
Allowance for loan losses, End of Period | 11 | 31 | 11 | 31 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 2,711 | 2,861 | 3,041 | 3,100 |
Provision Allocation | 50 | 743 | (357) | 755 |
Charge-offs | (305) | (325) | (300) | |
Recoveries | 14 | 8 | 111 | 57 |
Allowance for loan losses, End of Period | 2,470 | 3,612 | 2,470 | 3,612 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 3,524 | 2,571 | 4,022 | 2,618 |
Provision Allocation | 145 | 979 | (328) | 926 |
Charge-offs | (75) | (112) | ||
Recoveries | 17 | 9 | 29 | 15 |
Allowance for loan losses, End of Period | 3,611 | 3,559 | 3,611 | 3,559 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 1,684 | 1,503 | 1,353 | 1,930 |
Provision Allocation | (98) | 584 | 232 | 146 |
Charge-offs | (455) | (455) | ||
Recoveries | 1 | 7 | 2 | 18 |
Allowance for loan losses, End of Period | 1,587 | 1,639 | 1,587 | 1,639 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 114 | 55 | 103 | 63 |
Provision Allocation | (68) | (90) | (62) | (100) |
Recoveries | 1 | 91 | 6 | 93 |
Allowance for loan losses, End of Period | 47 | 56 | 47 | 56 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 362 | 175 | 178 | 136 |
Provision Allocation | (63) | 76 | 121 | 115 |
Allowance for loan losses, End of Period | 299 | 251 | 299 | 251 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||||
Allowance for loan losses, Beginning of Period | 16 | 70 | 27 | 66 |
Provision Allocation | 10 | 7 | (1) | 11 |
Allowance for loan losses, End of Period | $ 26 | $ 77 | $ 26 | $ 77 |
Loans and Related Allowance f41
Loans and Related Allowance for Loan Losses (Loans Evaluated for Impairment) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | $ 9,434 | $ 9,594 | $ 9,559 | $ 9,864 | $ 9,011 | $ 9,267 | |
Total Loans | 785,016 | 748,724 | |||||
Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 1,157 | 1,083 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,277 | 8,476 | |||||
Allowance for Loan Losses | 9,434 | 9,559 | |||||
Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 18,375 | 17,992 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 766,641 | 730,732 | |||||
Total Loans | 785,016 | 748,724 | |||||
Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 8,040 | 8,411 | 8,724 | 9,194 | 7,235 | 7,913 | |
Total Loans | 670,644 | 639,944 | |||||
Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 1,137 | 1,071 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 6,903 | 7,653 | |||||
Allowance for Loan Losses | 8,040 | 8,724 | |||||
Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 17,953 | 17,856 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 652,691 | 622,088 | |||||
Total Loans | 670,644 | 639,944 | |||||
Commercial Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 1,280 | 1,084 | 727 | 561 | 1,650 | 1,242 | |
Total Loans | 107,953 | 102,507 | |||||
Commercial Loans [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 8 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,272 | 727 | |||||
Allowance for Loan Losses | 1,280 | 727 | |||||
Commercial Loans [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 95 | 58 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 107,858 | 102,449 | |||||
Total Loans | 107,953 | 102,507 | |||||
Consumer Installment Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 103 | 92 | 97 | 78 | 97 | 85 | |
Total Loans | 5,125 | 4,928 | |||||
Consumer Installment Loans [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 12 | 12 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 91 | 85 | |||||
Allowance for Loan Losses | 103 | 97 | |||||
Consumer Installment Loans [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 327 | 78 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 4,798 | 4,850 | |||||
Total Loans | 5,125 | 4,928 | |||||
All Other Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 11 | 7 | 11 | 31 | 29 | 27 | |
Total Loans | 1,294 | 1,345 | |||||
All Other Loans [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 11 | 11 | |||||
Allowance for Loan Losses | 11 | 11 | |||||
All Other Loans [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 1,294 | 1,345 | |||||
Total Loans | 1,294 | 1,345 | |||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 2,470 | 2,711 | 3,041 | 3,612 | 2,861 | 3,100 | |
Total Loans | 204,639 | 194,576 | |||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 289 | 450 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,181 | 2,591 | |||||
Allowance for Loan Losses | 2,470 | 3,041 | |||||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 5,760 | 6,972 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 198,879 | 187,604 | |||||
Total Loans | 204,639 | 194,576 | |||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 3,611 | 3,524 | 4,022 | 3,559 | 2,571 | 2,618 | |
Total Loans | 325,394 | 317,955 | |||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 77 | 55 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 3,534 | 3,967 | |||||
Allowance for Loan Losses | 3,611 | 4,022 | |||||
Commercial [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 6,353 | 6,362 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 319,041 | 311,593 | |||||
Total Loans | 325,394 | 317,955 | |||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 1,587 | 1,684 | 1,353 | 1,639 | 1,503 | 1,930 | |
Total Loans | 79,826 | 67,408 | |||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 771 | 564 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 816 | 789 | |||||
Allowance for Loan Losses | 1,587 | 1,353 | |||||
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 5,705 | 4,509 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 74,121 | 62,899 | |||||
Total Loans | 79,826 | 67,408 | |||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 47 | 114 | 103 | 56 | 55 | 63 | |
Total Loans | 8,212 | 8,378 | |||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | [1] | 2 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 47 | 101 | |||||
Allowance for Loan Losses | 47 | 103 | |||||
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Individually Evaluated for Impairment | [1] | 135 | 13 | ||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 8,077 | 8,365 | |||||
Total Loans | 8,212 | 8,378 | |||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 299 | 362 | 178 | 251 | 175 | 136 | |
Total Loans | 44,585 | 45,389 | |||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 299 | 178 | |||||
Allowance for Loan Losses | 299 | 178 | |||||
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 44,585 | 45,389 | |||||
Total Loans | 44,585 | 45,389 | |||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses | 26 | $ 16 | 27 | $ 77 | $ 70 | $ 66 | |
Total Loans | 7,988 | 6,238 | |||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Allowance for Loan Losses [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 26 | 27 | |||||
Allowance for Loan Losses | 26 | 27 | |||||
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | Recorded Investment in Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Recorded Investment in Loans, Collectively Evaluated for Impairment | 7,988 | 6,238 | |||||
Total Loans | $ 7,988 | $ 6,238 | |||||
[1] | The category "Individually Evaluated for Impairment" includes loans individually evaluated for impairment and determined not to be impaired. These loans totalled $6.7 million and $7.3 million at June 30, 2016 and December 31, 2015, respectively. The allowance for loan losses allocated to these loans was $88,000 and $44,000 at June 30, 2016 and December 31, 2015, respectively. |
Loans and Related Allowance f42
Loans and Related Allowance for Loan Losses (Loans Evaluated for Impairment Footnote) (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts Notes And Loans Receivable [Line Items] | ||
Individually evaluated for impairment | $ 6,700,000 | $ 7,300,000 |
Loans Determined not to be Impaired [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance for loans losses | $ 88,000 | $ 44,000 |
Loans and Related Allowance f43
Loans and Related Allowance for Loan Losses (Loans, Excluding PCI Loans, by Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | $ 785,016 | $ 748,724 |
Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 670,644 | 639,944 |
Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 107,953 | 102,507 |
Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 5,125 | 4,928 |
All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,294 | 1,345 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 204,639 | 194,576 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 325,394 | 317,955 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 79,826 | 67,408 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 8,212 | 8,378 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 44,585 | 45,389 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,988 | 6,238 |
Loans Excluding PCI Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 785,016 | 748,724 |
Loans Excluding PCI Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 670,644 | 639,944 |
Loans Excluding PCI Loans [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 107,953 | 102,507 |
Loans Excluding PCI Loans [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 5,125 | 4,928 |
Loans Excluding PCI Loans [Member] | All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,294 | 1,345 |
Loans Excluding PCI Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 204,639 | 194,576 |
Loans Excluding PCI Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 325,394 | 317,955 |
Loans Excluding PCI Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 79,826 | 67,408 |
Loans Excluding PCI Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 8,212 | 8,378 |
Loans Excluding PCI Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 44,585 | 45,389 |
Loans Excluding PCI Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,988 | 6,238 |
Loans Excluding PCI Loans [Member] | Pass [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 750,262 | 713,777 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 639,044 | 609,680 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 104,903 | 98,159 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 5,021 | 4,593 |
Loans Excluding PCI Loans [Member] | Pass [Member] | All Other Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 1,294 | 1,345 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 193,784 | 182,394 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 318,883 | 306,267 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 73,901 | 62,391 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,551 | 7,126 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 37,059 | 45,389 |
Loans Excluding PCI Loans [Member] | Pass [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,866 | 6,113 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 21,032 | 21,476 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 18,056 | 16,930 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 2,955 | 4,290 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 21 | 256 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 6,474 | 6,612 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 3,188 | 8,520 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 220 | 434 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 526 | 1,239 |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 7,526 | |
Loans Excluding PCI Loans [Member] | Special Mention [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 122 | 125 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 13,722 | 13,471 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 13,544 | 13,334 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Commercial Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 95 | 58 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Consumer Installment Loans [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 83 | 79 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 4,381 | 5,570 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 3,323 | 3,168 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | 5,705 | 4,583 |
Loans Excluding PCI Loans [Member] | Substandard [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ||
Total loans | $ 135 | $ 13 |
PCI Loans and Related Allowan44
PCI Loans and Related Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | Jan. 30, 2009 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Purchased credit impaired (PCI) loans | $ 54,766 | $ 58,955 | |
Covered Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Purchased credit impaired (PCI) loans | $ 198,300 | ||
Loans met criteria of ASC 310-30 | 49,100 | ||
Outstanding contractual balance of covered loans other than 1-4 family loans | $ 85,400 | $ 91,300 | |
Covered Loans [Member] | Residential 1-4 Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Remaining of loans acquired | $ 149,100 |
PCI Loans and Related Allowan45
PCI Loans and Related Allowance for Loan Losses (Summary of Covered Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 54,766 | $ 58,955 |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 54,766 | 58,955 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 49,264 | 52,696 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 705 | 850 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 2,029 | 2,310 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 2,494 | 2,822 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | 274 | 277 |
Purchase Credit Impaired (PCI) Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 54,766 | $ 58,955 |
Percent of purchased credit impaired loan | 100.00% | 100.00% |
Purchase Credit Impaired (PCI) Loans [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 54,766 | $ 58,955 |
Percent of purchased credit impaired loan | 100.00% | 100.00% |
Purchase Credit Impaired (PCI) Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 49,264 | $ 52,696 |
Percent of purchased credit impaired loan | 89.95% | 89.38% |
Purchase Credit Impaired (PCI) Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 705 | $ 850 |
Percent of purchased credit impaired loan | 1.29% | 1.44% |
Purchase Credit Impaired (PCI) Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 2,029 | $ 2,310 |
Percent of purchased credit impaired loan | 3.71% | 3.92% |
Purchase Credit Impaired (PCI) Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 2,494 | $ 2,822 |
Percent of purchased credit impaired loan | 4.55% | 4.79% |
Purchase Credit Impaired (PCI) Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net | $ 274 | $ 277 |
Percent of purchased credit impaired loan | 0.50% | 0.47% |
PCI Loans and Related Allowan46
PCI Loans and Related Allowance for Loan Losses (Summary of Covered Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | $ 484 | $ 484 |
Recorded investment in loans | 54,766 | 58,955 |
Mortgage Loans on Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | 484 | 484 |
Recorded investment in loans | 54,766 | 58,955 |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | 484 | 484 |
Recorded investment in loans | 49,264 | 52,696 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | ||
Recorded investment in loans | 705 | 850 |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | ||
Recorded investment in loans | 2,029 | 2,310 |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | ||
Recorded investment in loans | 2,494 | 2,822 |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance for loan losses | ||
Recorded investment in loans | $ 274 | $ 277 |
PCI Loans and Related Allowan47
PCI Loans and Related Allowance for Loan Losses (Summary of Changes in Accretable Yield) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
PCI Loans and Related Allowance for Loan Losses [Abstract] | ||
Beginning Balance | $ 49,128 | $ 51,082 |
Accretion | (3,132) | (7,811) |
Reclassification from nonaccretable yield | 3,805 | 5,857 |
Ending Balance | $ 49,801 | $ 49,128 |
Other Real Estate Owned (Schedu
Other Real Estate Owned (Schedule of Other Real Estate Owned) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Residential 1-4 Family [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Residential 1-4 family loans and purchased credit impaired loans in the process of foreclosure | $ 1,600 | |
Mortgage Loans on Real Estate [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Other real estate owned | 4,898 | $ 5,490 |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Other real estate owned | 968 | 1,407 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Other real estate owned | 643 | 634 |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ||
Mortgage Loans on Real Estate [Line Items] | ||
Other real estate owned | $ 3,287 | $ 3,449 |
Deposits (Summary of Interest B
Deposits (Summary of Interest Bearing Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
NOW | $ 133,362 | $ 128,761 |
MMDA | 107,067 | 108,810 |
Savings | 85,063 | 84,047 |
Time deposits less than or equal to $250,000 | 402,434 | 409,085 |
Time deposits over $250,000 | 113,411 | 118,600 |
Total interest bearing deposits | $ 841,337 | $ 849,303 |
Accumulated Other Comprehensi50
Accumulated Other Comprehensive Income (Summary of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ 1,223 | $ 1,390 | $ (589) | $ 664 |
Other comprehensive income before reclassifications | 1,000 | (2,482) | 2,983 | (1,560) |
Amounts reclassified from AOCI | (172) | 5 | (343) | (191) |
Net current period other comprehensive income (loss) | 828 | (2,477) | 2,640 | (1,751) |
Ending balance | 2,051 | (1,087) | 2,051 | (1,087) |
Unrealized (Gain) Loss on Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 2,617 | 2,427 | 443 | 1,452 |
Other comprehensive income before reclassifications | 1,085 | (2,624) | 3,430 | (1,453) |
Amounts reclassified from AOCI | (172) | 5 | (343) | (191) |
Net current period other comprehensive income (loss) | 913 | (2,619) | 3,087 | (1,644) |
Ending balance | 3,530 | (192) | 3,530 | (192) |
Defined Benefit Pension Plan [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (901) | (811) | (901) | (811) |
Ending balance | (901) | (811) | (901) | (811) |
Gain (Loss) on Cash Flow Hedges [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (493) | (226) | (131) | 23 |
Other comprehensive income before reclassifications | (85) | 142 | (447) | (107) |
Net current period other comprehensive income (loss) | (85) | 142 | (447) | (107) |
Ending balance | $ (578) | $ (84) | $ (578) | $ (84) |
Accumulated Other Comprehensi51
Accumulated Other Comprehensive Income (Effects of Reclassifications Out of AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gain (loss) on securities transactions, net | $ 261 | $ (8) | $ 520 | $ 289 |
Income tax expense | (881) | (533) | (1,864) | (884) |
Total amount recognized | (172) | 5 | (343) | (191) |
Unrealized (Gain) Loss on Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total amount recognized | (172) | 5 | (343) | (191) |
Amount Reclassified from AOCI [Member] | Unrealized (Gain) Loss on Securities [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gain (loss) on securities transactions, net | (261) | 8 | (520) | (289) |
Income tax expense | 89 | (3) | 177 | 98 |
Total amount recognized | $ (172) | $ 5 | $ (343) | $ (191) |
Fair Values of Assets and Lia52
Fair Values of Assets and Liabilities (Narrative) (Details) | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair value appraisal minimum period | 18 months |
Minimum [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Eligibility criteria of classified loans for appraisal by professional appraiser | $ 250,000 |
Fair Values of Assets and Lia53
Fair Values of Assets and Liabilities (Assets and Liabilities Recorded at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | $ 203,841 | $ 243,270 |
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 37,518 | 49,941 |
U.S. Gov't Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 2,000 | 742 |
State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 129,108 | 141,498 |
Corporate and Other Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 13,523 | 14,296 |
Mortgage Backed - U.S. Gov't Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 5,240 | 8,496 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 16,452 | 28,297 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 203,841 | 243,270 |
Total assets at fair value | 203,841 | 243,270 |
Cash flow hedge | (875) | (199) |
Total liabilities at fair value | (875) | (199) |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 34,848 | 40,435 |
Total assets at fair value | 34,848 | 40,435 |
Total liabilities at fair value | ||
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 168,993 | 202,835 |
Total assets at fair value | 168,993 | 202,835 |
Cash flow hedge | (875) | (199) |
Total liabilities at fair value | (875) | (199) |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | ||
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 37,518 | 49,941 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 31,722 | 39,748 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 5,796 | 10,193 |
Fair Value, Measurements, Recurring [Member] | U.S. Gov't Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 2,000 | 742 |
Fair Value, Measurements, Recurring [Member] | U.S. Gov't Sponsored Agencies [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 2,000 | |
Fair Value, Measurements, Recurring [Member] | U.S. Gov't Sponsored Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 742 | |
Fair Value, Measurements, Recurring [Member] | State, County and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 129,108 | 141,498 |
Fair Value, Measurements, Recurring [Member] | State, County and Municipal [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 1,126 | 687 |
Fair Value, Measurements, Recurring [Member] | State, County and Municipal [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 127,982 | 140,811 |
Fair Value, Measurements, Recurring [Member] | Corporate and Other Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 13,523 | 14,296 |
Fair Value, Measurements, Recurring [Member] | Corporate and Other Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 13,523 | 14,296 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 5,240 | 8,496 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 5,240 | 8,496 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | 16,452 | 28,297 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total investment securities available for sale | $ 16,452 | $ 28,297 |
Fair Values of Assets and Lia54
Fair Values of Assets and Liabilities (Assets and Liabilities Measured at Fair Value on Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Bank premises held for sale | $ 110 | |
Other real estate owned | $ 4,898 | 5,490 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 9,474 | 8,737 |
Bank premises held for sale | 110 | |
Other real estate owned | 4,898 | 5,490 |
Total assets at fair value | 14,372 | 14,337 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 1,456 | 1,982 |
Other real estate owned | 31 | 31 |
Total assets at fair value | 1,487 | 2,013 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 8,018 | 6,755 |
Bank premises held for sale | 110 | |
Other real estate owned | 4,867 | 5,459 |
Total assets at fair value | $ 12,885 | $ 12,324 |
Fair Values of Assets and Lia55
Fair Values of Assets and Liabilities (Summary of Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financial liabilities: | ||
Interest bearing deposits | $ 841,337 | $ 849,303 |
Carrying Value [Member] | ||
Financial assets: | ||
Securities held to maturity | 49,192 | 36,478 |
Loans, net of allowance | 775,582 | 739,165 |
PCI loans, net of allowance | 54,282 | 58,471 |
Financial liabilities: | ||
Interest bearing deposits | 841,337 | 849,303 |
Long-term borrowings | 102,204 | 105,455 |
Estimated Fair Value [Member] | ||
Financial assets: | ||
Securities held to maturity | 51,306 | 37,611 |
Loans, net of allowance | 777,957 | 739,367 |
PCI loans, net of allowance | 63,048 | 62,902 |
Financial liabilities: | ||
Interest bearing deposits | 842,217 | 850,770 |
Long-term borrowings | 102,368 | 105,476 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Financial assets: | ||
Securities held to maturity | ||
Loans, net of allowance | ||
PCI loans, net of allowance | ||
Financial liabilities: | ||
Interest bearing deposits | ||
Long-term borrowings | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||
Financial assets: | ||
Securities held to maturity | 51,306 | 37,611 |
Loans, net of allowance | 769,939 | 733,026 |
PCI loans, net of allowance | ||
Financial liabilities: | ||
Interest bearing deposits | 842,217 | 850,770 |
Long-term borrowings | 102,368 | 105,476 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Financial assets: | ||
Securities held to maturity | ||
Loans, net of allowance | 8,018 | 6,341 |
PCI loans, net of allowance | 63,048 | 62,902 |
Financial liabilities: | ||
Interest bearing deposits | ||
Long-term borrowings |
Earnings Per Common Share (Narr
Earnings Per Common Share (Narrative) (Details) shares in Thousands | 6 Months Ended |
Jun. 30, 2016shares | |
Earnings Per Common Share [Abstract] | |
Anti-dilutive common shares | 259 |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation of Earnings per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Earnings Per Common Share [Abstract] | ||||
Basic EPS, Net Income Available to Common Shareholders (Numerator) | $ 2,318 | $ 1,693 | $ 4,738 | $ 3,005 |
Effect of dilutive stock awards, Net Income Available to Common Shareholders (Numerator) | ||||
Diluted EPS, Net Income Available to Common Shareholders (Numerator) | $ 2,318 | $ 1,693 | $ 4,738 | $ 3,005 |
Basic EPS , Weighted Average Common Shares (Denominator) | 21,897 | 21,821 | 21,885 | 21,810 |
Effect of dilutive stock awards, Weighted Average Common Shares (Denominator) | 142 | 137 | 195 | 184 |
Diluted EPS, Weighted Average Common Shares (Denominator) | 22,039 | 21,958 | 22,080 | 21,994 |
Basic EPS, Per Common Share Amount | $ 0.11 | $ 0.08 | $ 0.22 | $ 0.14 |
Effect of dilutive stock awards, Per Common Share Amount | ||||
Diluted EPS, Per Common Share Amount | $ 0.11 | $ 0.08 | $ 0.22 | $ 0.14 |
Employee Benefit Plan (Componen
Employee Benefit Plan (Components of Net Periodic Benefit Cost for Plan) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
May 31, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Benefit Plan [Abstract] | ||||||
Interest cost | $ 47 | $ 47 | $ 95 | $ 95 | ||
Expected return on plan assets | (81) | (88) | (163) | (177) | ||
Amortization of prior service cost | 1 | 1 | 2 | 2 | ||
Recognized net actuarial loss | 13 | 11 | 26 | 22 | ||
Recognized net loss due to settlement | 59 | 72 | ||||
Net periodic benefit cost | $ 39 | $ (29) | 32 | $ (58) | ||
Net loss due to settlements to be amortized | $ 182 | $ 52 | $ 234 |
Cash Flow Hedge (Narrative) (De
Cash Flow Hedge (Narrative) (Details) - Interest Rate Swap [Member] - Cash Flow Hedging [Member] - USD ($) | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Nov. 07, 2014 | |
Derivative notional amount | $ 30,000,000 | ||
Derivative interest rate | 1.69% | ||
Derivative term | 5 years | ||
Cash pledged as collateral | $ 850,000 | $ 440,000 | |
Cash flow hedge, liability | $ 875,000 | $ 199,000 |
Branch Sale (Narrative) (Detail
Branch Sale (Narrative) (Details) - Cantonsville Branch [Member] - USD ($) $ in Thousands | Mar. 18, 2016 | Dec. 31, 2015 |
Estimated closing cost on sale of property | $ 14 | |
Proceeds from Sale of Property Held-for-sale | 160 | |
Gain (Loss) on Disposition of Property Plant Equipment | $ 36 | |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Assets Held-for-sale, Long Lived, Fair Value Disclosure | $ 110 |