Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q1 |
Entity Registrant Name | 'Community Bankers Trust Corp |
Entity Central Index Key | '0001323648 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Accelerated Filer |
Entity Common Stock, Shares Outstanding | 21,720,221 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $11,139 | $10,857 |
Interest bearing bank deposits | 27,782 | 12,978 |
Total cash and cash equivalents | 38,921 | 23,835 |
Securities available for sale, at fair value | 271,345 | 265,777 |
Securities held to maturity, at cost (fair value of $28,316 and $30,305, respectively) | 26,625 | 28,563 |
Equity securities, restricted, at cost | 7,772 | 8,358 |
Total securities | 305,742 | 302,698 |
Loans held for sale | ' | 100 |
Loans not covered by FDIC shared-loss agreements | 593,610 | 596,173 |
Loans covered by FDIC shared-loss agreements | 71,860 | 73,275 |
Total loans | 665,470 | 669,448 |
Allowance for loan losses (non-covered loans of $10,410 and $10,444, respectively; covered loans of $484 and $484, respectively) | -10,894 | -10,928 |
Net loans | 654,576 | 658,520 |
FDIC indemnification asset | 23,846 | 25,409 |
Bank premises and equipment, net | 29,139 | 27,872 |
Other real estate owned, covered by FDIC shared-loss agreements | 3,211 | 2,692 |
Other real estate owned, non-covered | 5,439 | 6,244 |
Bank owned life insurance | 20,956 | 20,795 |
FDIC receivable under shared-loss agreements | 433 | 368 |
Core deposit intangibles, net | 6,144 | 6,621 |
Other assets | 13,295 | 14,378 |
Total assets | 1,101,702 | 1,089,532 |
Deposits: | ' | ' |
Noninterest bearing | 73,935 | 70,132 |
Interest bearing | 831,233 | 822,209 |
Total deposits | 905,168 | 892,341 |
Federal funds purchased and securities sold under agreements to repurchase | ' | 6,000 |
Federal Home Loan Bank advances | 76,946 | 77,125 |
Trust preferred capital notes | 4,124 | 4,124 |
Other liabilities | 4,817 | 3,283 |
Total liabilities | 991,055 | 982,873 |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock (5,000,000 shares authorized, $0.01 par value; 10,680 and 10,680 shares issued and outstanding, respectively) | 10,680 | 10,680 |
Warrants on preferred stock | 1,037 | 1,037 |
Common stock (200,000,000 shares authorized, $0.01 par value; 21,720,221 and 21,709,096 shares issued and outstanding, respectively) | 217 | 217 |
Additional paid in capital | 144,747 | 144,656 |
Retained deficit | -44,163 | -45,822 |
Accumulated other comprehensive loss | -1,871 | -4,109 |
Total shareholders' equity | 110,647 | 106,659 |
Total liabilities and shareholders' equity | $1,101,702 | $1,089,532 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities held to maturity | $28,316 | $30,305 |
Allowance for loan losses, non-covered loans | 10,410 | 10,444 |
Allowance for loan losses, covered loans | $484 | $484 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares issued | 10,680 | 10,680 |
Preferred stock, shares outstanding | 10,680 | 10,680 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares issued | 21,720,221 | 21,709,096 |
Common stock, shares outstanding | 21,720,221 | 21,709,096 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest and dividend income | ' | ' |
Interest and fees on non-covered loans | $7,051 | $7,511 |
Interest and fees on FDIC covered loans | 2,961 | 2,659 |
Interest on federal funds sold | ' | 2 |
Interest on deposits in other banks | 13 | 8 |
Interest and dividends on securities | ' | ' |
Taxable | 1,698 | 1,838 |
Nontaxable | 156 | 148 |
Total interest and dividend income | 11,879 | 12,166 |
Interest expense | ' | ' |
Interest on deposits | 1,408 | 1,701 |
Interest on short-term borrowings | 1 | 1 |
Interest on other borrowed funds | 161 | 192 |
Total interest expense | 1,570 | 1,894 |
Net interest income | 10,309 | 10,272 |
Provision for loan losses | ' | ' |
Net interest income after provision for loan losses | 10,309 | 10,272 |
Noninterest income | ' | ' |
Service charges on deposit accounts | 489 | 663 |
Gain on securities transactions, net | 355 | 278 |
Gain on sale of other loans, net | 48 | ' |
Income on bank owned life insurance | 192 | 149 |
Other | 217 | 236 |
Total noninterest income | 1,301 | 1,326 |
Noninterest expense | ' | ' |
Salaries and employee benefits | 3,923 | 3,993 |
Occupancy expenses | 648 | 663 |
Equipment expenses | 219 | 267 |
Legal fees | 28 | 13 |
Professional fees | 107 | 50 |
FDIC assessment | 207 | 167 |
Data processing fees | 494 | 537 |
FDIC indemnification asset amortization | 1,498 | 1,501 |
Amortization of intangibles | 477 | 565 |
Other real estate expense | 283 | 737 |
Other operating expenses | 1,293 | 1,218 |
Total noninterest expense | 9,177 | 9,711 |
Income before income taxes | 2,433 | 1,887 |
Income tax expense | 709 | 563 |
Net income | 1,724 | 1,324 |
Dividends paid on preferred stock | 65 | 221 |
Accretion of discount on preferred stock | ' | 58 |
Net income available to common shareholders | $1,659 | $1,045 |
Net income per common share - basic | $0.08 | $0.05 |
Net income per common share - diluted | $0.08 | $0.05 |
Weighted average number of common shares outstanding | ' | ' |
basic | 21,729 | 21,682 |
diluted | 22,055 | 21,839 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | ' | ' |
Net income | $1,724 | $1,324 |
Other comprehensive income (loss): | ' | ' |
Change in unrealized gain in investment securities | 3,746 | 49 |
Tax related to unrealized gain in investment securities | -1,274 | -17 |
Reclassification adjustment for gain in securities sold | -355 | -278 |
Tax related to realized gain in securities sold | 121 | 95 |
Total other comprehensive income (loss) | 2,238 | -151 |
Total comprehensive income | $3,962 | $1,173 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Preferred Stock [Member] | Warrants [Member] | Discount on Preferred Stock [Member] | Common Stock [Member] | Additional Paid in Capital [Member] | Retained Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||||
Beginning Balance at Dec. 31, 2012 | $115,317 | $17,680 | $1,037 | ($234) | $217 | $144,398 | ($50,609) | $2,828 |
Beginning Balance, shares at Dec. 31, 2012 | ' | ' | ' | ' | 21,670 | ' | ' | ' |
Amortization of preferred stock warrants | 58 | ' | ' | 58 | ' | ' | -58 | ' |
Issuance of common stock | 35 | ' | ' | ' | ' | 35 | ' | ' |
Issuance of common stock, shares | ' | ' | ' | ' | 13 | ' | ' | ' |
Dividends paid on preferred stock | -221 | ' | ' | ' | ' | ' | -221 | ' |
Issuance of stock options | 30 | ' | ' | ' | ' | 30 | ' | ' |
Net income | 1,324 | ' | ' | ' | ' | ' | 1,324 | ' |
Other comprehensive income (loss) | -151 | ' | ' | ' | ' | ' | ' | -151 |
Ending Balance at Mar. 31, 2013 | 116,334 | 17,680 | 1,037 | -176 | 217 | 144,463 | -49,564 | 2,677 |
Ending Balance, shares at Mar. 31, 2013 | ' | ' | ' | ' | 21,683 | ' | ' | ' |
Beginning Balance at Dec. 31, 2013 | 106,659 | 10,680 | 1,037 | ' | 217 | 144,656 | -45,822 | -4,109 |
Beginning Balance, shares at Dec. 31, 2013 | ' | ' | ' | ' | 21,709 | ' | ' | ' |
Issuance of common stock | 41 | ' | ' | ' | ' | 41 | ' | ' |
Issuance of common stock, shares | ' | ' | ' | ' | 11 | ' | ' | ' |
Dividends paid on preferred stock | -65 | ' | ' | ' | ' | ' | -65 | ' |
Issuance of stock options | 50 | ' | ' | ' | ' | 50 | ' | ' |
Net income | 1,724 | ' | ' | ' | ' | ' | 1,724 | ' |
Other comprehensive income (loss) | 2,238 | ' | ' | ' | ' | ' | ' | 2,238 |
Ending Balance at Mar. 31, 2014 | $110,647 | $10,680 | $1,037 | ' | $217 | $144,747 | ($44,163) | ($1,871) |
Ending Balance, shares at Mar. 31, 2014 | ' | ' | ' | ' | 21,720 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating activities: | ' | ' |
Net income | $1,724 | $1,324 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and intangibles amortization | 859 | 973 |
Issuance of common stock and stock options | 91 | 65 |
Amortization of purchased loan premium | 384 | 306 |
Deferred tax expense | ' | 563 |
Amortization of security premiums and accretion of discounts, net | 963 | 1,041 |
Net gain on sale of loans | -48 | ' |
Net gain on sale of securities | -355 | -278 |
Net loss on sale and valuation of other real estate | 263 | 630 |
Changes in assets and liabilities: | ' | ' |
Net decrease in loans held for sale | 100 | 121 |
Decrease in other assets | 1,264 | 1,490 |
Increase (decrease) in accrued expenses and other liabilities | 1,534 | -351 |
Net cash provided by operating activities | 6,779 | 5,884 |
Investing activities: | ' | ' |
Proceeds from available for sale securities | 26,415 | 73,068 |
Proceeds from held to maturity securities | 1,899 | 3,526 |
Proceeds from equity securities | 586 | 254 |
Purchase of available for sale securities | -29,158 | -38,990 |
Purchase of equity securities | ' | -47 |
Proceeds from sale of other real estate | 596 | 2,279 |
Improvements of other real estate, net of insurance proceeds | -19 | -185 |
Net decrease (increase) in loans | 98 | -4,022 |
Principal recoveries of loans previously charged off | 118 | 246 |
Purchase of premises and equipment, net | -1,653 | -7 |
Purchase of bank owned life insurance investment | ' | -5,000 |
Proceeds from sale of loans | 2,841 | ' |
Net cash provided by investing activities | 1,723 | 31,122 |
Financing activities: | ' | ' |
Net increase (decrease) in noninterest bearing and interest bearing demand deposits | 12,828 | -32,260 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | -6,000 | -4,420 |
Net decrease in Federal Home Loan Bank borrowings | -179 | -174 |
Cash dividends paid | -65 | -221 |
Net cash provided by (used in) financing activities | 6,584 | -37,075 |
Net increase (decrease) in cash and cash equivalents | 15,086 | -69 |
Cash and cash equivalents: | ' | ' |
Beginning of period | 23,835 | 24,137 |
End of period | 38,921 | 24,068 |
Supplemental disclosures of cash flow information: | ' | ' |
Interest paid | 1,495 | 1,996 |
Income taxes paid | 115 | ' |
Transfers of loans to other real estate owned property | $550 | $756 |
Nature_of_Banking_Activities_a
Nature of Banking Activities and Significant Accounting Policies | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Policies [Abstract] | ' | |
Nature of Banking Activities and Significant Accounting Policies | ' | |
1 | NATURE OF BANKING ACTIVITIES AND SIGNIFICANT ACCOUNTING POLICIES | |
Organization | ||
Community Bankers Trust Corporation (the “Company”) is a bank holding company that was originally incorporated in 2005. On January 1, 2014, the Company completed a reincorporation from Delaware, its original state of incorporation, to Virginia. The form of the reincorporation was the merger of the then existing Delaware corporation into a newly created Virginia corporation. The Company retained the same name and conducts business in the same manner as before the reincorporation. | ||
The Company is headquartered in Richmond, Virginia and is the holding company for Essex Bank (the “Bank”), a Virginia state bank with 21 full-service offices, 14 of which are in Virginia and seven of which are in Maryland. The Bank also operates two loan production offices in Virginia. The Company relocated its corporate headquarters on March 31, 2014. The Bank opened a new branch office in Annapolis, Maryland on March 25, 2014 and a branch office at its new headquarters in Richmond, Virginia on April 7, 2014. | ||
The Bank was established in 1926. 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, 2013. The accounting and reporting policies of the Company conform to 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 March 31, 2014, and the statements of income, comprehensive income, changes in shareholders’ equity and cash flows for the three months ended March 31, 2014. Results for the three month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ended December 31, 2014. | ||
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. | ||
Certain reclassifications have been made to prior period balances to conform to the current period presentation. | ||
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 January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40) - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. Although current guidance indicates that a creditor should reclassify a collateralized mortgage loan as other real estate owned when it determines that there has been in substance a repossession or foreclosure by the creditor, that is, the creditor receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place, the terms in substance a repossession or foreclosure and physical possession are not defined in the accounting literature. This has resulted in diversity about when a creditor should derecognize the loan receivable and recognize the real estate property. The objective of the amendments in this Update is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs. The amendments state that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2014. Early adoption is permitted. The Company currently records foreclosures in accordance with this guidance; therefore, no changes are necessary for adoption. | ||
Also in January 2014, the FASB issued ASU No. 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force). The amendments in this ASU apply to all reporting entities that invest in qualified affordable housing projects through limited liability entities that are flow through entities for tax purposes. Currently, an investor that invests in a qualified affordable housing project may elect to account for that investment using the effective yield method. Those not electing the effective yield method would account for the investment using the equity method or cost method. The Task Force received stakeholder feedback indicating that certain of the required conditions for the effective yield method are overly restrictive and thus prevent many investments in qualified affordable housing projects from qualifying for the use of this method. Those stakeholders stated that presenting the investment performance net of taxes as a component of income tax expense (benefit) as prescribed by the effective yield method more fairly represents the economics and provides users with a better understanding of the returns from such investments than the equity or cost methods. | ||
The amendments in this ASU eliminate the effective yield election and permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Those not electing the proportional amortization method would account for the investment using the equity method or cost method. The decision to apply the proportional amortization method of accounting is an accounting policy decision that should be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments. A reporting entity should disclose information that enables users of its financial statements to understand the nature of its investments in qualified affordable housing projects, and the effect of the measurement of its investments in qualified affordable housing projects and the related tax credits on its financial position and results of operations. The amendments in this ASU should be applied retrospectively to all periods presented. The amendments in this ASU are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
2 | SECURITIES | ||||||||||||||||||||||||
Amortized costs and fair values of securities available for sale and held to maturity at March 31, 2014 and December 31, 2013 were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Gross Unrealized | |||||||||||||||||||||||||
Amortized | Gains | Losses | Fair Value | ||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 107,485 | $ | 108 | $ | (965 | ) | $ | 106,628 | ||||||||||||||||
U.S. Gov’t sponsored agencies | — | — | — | — | |||||||||||||||||||||
State, county and municipal | 133,226 | 1,970 | (3,332 | ) | 131,864 | ||||||||||||||||||||
Corporate and other bonds | 5,502 | 28 | (40 | ) | 5,490 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,602 | 20 | (145 | ) | 2,477 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 25,126 | 19 | (259 | ) | 24,886 | ||||||||||||||||||||
Total Securities Available for Sale | $ | 273,941 | $ | 2,145 | $ | (4,741 | ) | $ | 271,345 | ||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
State, county and municipal | $ | 9,069 | $ | 700 | $ | — | $ | 9,769 | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 6,202 | 372 | — | 6,574 | |||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 11,354 | 619 | — | 11,973 | |||||||||||||||||||||
Total Securities Held to Maturity | $ | 26,625 | $ | 1,691 | $ | — | $ | 28,316 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Gross Unrealized | |||||||||||||||||||||||||
Amortized | Gains | Losses | Fair Value | ||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 99,789 | $ | 165 | $ | (967 | ) | $ | 98,987 | ||||||||||||||||
U.S. Gov’t sponsored agencies | 487 | — | (1 | ) | 486 | ||||||||||||||||||||
State, county and municipal | 138,884 | 1,297 | (6,085 | ) | 134,096 | ||||||||||||||||||||
Corporate and other bonds | 6,369 | 27 | (47 | ) | 6,349 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 3,608 | 29 | (198 | ) | 3,439 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 22,631 | 69 | (280 | ) | 22,420 | ||||||||||||||||||||
Total Securities Available for Sale | $ | 271,768 | $ | 1,587 | $ | (7,578 | ) | $ | 265,777 | ||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
State, county and municipal | $ | 9,385 | $ | 718 | $ | — | $ | 10,103 | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 6,604 | 398 | — | 7,002 | |||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 12,574 | 626 | — | 13,200 | |||||||||||||||||||||
Total Securities Held to Maturity | $ | 28,563 | $ | 1,742 | $ | — | $ | 30,305 | |||||||||||||||||
The amortized cost and fair value of securities at March 31, 2014 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 (dollars in thousands): | |||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair Value | ||||||||||||||||||||||
Cost | Value | Cost | |||||||||||||||||||||||
Due in one year or less | $ | 1,913 | $ | 1,942 | $ | 19,962 | $ | 19,894 | |||||||||||||||||
Due after one year through five years | 23,682 | 25,219 | 45,381 | 45,428 | |||||||||||||||||||||
Due after five years through ten years | 1,030 | 1,155 | 154,269 | 153,029 | |||||||||||||||||||||
Due after ten years | — | — | 54,329 | 52,994 | |||||||||||||||||||||
Total securities | $ | 26,625 | $ | 28,316 | $ | 273,941 | $ | 271,345 | |||||||||||||||||
Proceeds from sales of securities available for sale were $21.7 million and $24.8 million during the three months ended March 31 2014 and 2013, 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 periods were as follows (dollars in thousands): | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Gross realized gains | $ | 406 | $ | 321 | |||||||||||||||||||||
Gross realized losses | (51 | ) | (43 | ) | |||||||||||||||||||||
Net securities gains | $ | 355 | $ | 278 | |||||||||||||||||||||
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 months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||
The fair value and gross unrealized losses for securities available for sale, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at March 31, 2014 and December 31, 2013 were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 62,299 | $ | (635 | ) | $ | 31,123 | $ | (330 | ) | $ | 93,422 | $ | (965 | ) | ||||||||||
State, county and municipal | 69,003 | (2,603 | ) | 9,619 | (729 | ) | 78,622 | (3,332 | ) | ||||||||||||||||
Corporate and other bonds | 3,282 | (40 | ) | — | — | 3,282 | (40 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 1,852 | (145 | ) | — | — | 1,852 | (145 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 17,440 | (229 | ) | 2,188 | (30 | ) | 19,628 | (259 | ) | ||||||||||||||||
Total | $ | 153,876 | $ | (3,652 | ) | $ | 42,930 | $ | (1,089 | ) | $ | 196,806 | $ | (4,741 | ) | ||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 35,873 | $ | (531 | ) | $ | 37,638 | $ | (436 | ) | $ | 73,511 | $ | (967 | ) | ||||||||||
U.S. Gov’t sponsored agencies | 486 | (1 | ) | — | — | 486 | (1 | ) | |||||||||||||||||
State, county and municipal | 92,010 | (5,343 | ) | 6,445 | (742 | ) | 98,455 | (6,085 | ) | ||||||||||||||||
Corporate and other bonds | 3,332 | (42 | ) | 991 | (5 | ) | 4,323 | (47 | ) | ||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,767 | (198 | ) | — | — | 2,767 | (198 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 14,572 | (258 | ) | 1,557 | (22 | ) | 16,129 | (280 | ) | ||||||||||||||||
Total | $ | 149,040 | $ | (6,373 | ) | $ | 46,631 | $ | (1,205 | ) | $ | 195,671 | $ | (7,578 | ) | ||||||||||
The unrealized losses (impairments) in the investment portfolio at March 31, 2014 and December 31, 2013 are generally a result of market fluctuations that occur daily. The unrealized losses are from 219 securities at March 31, 2014. Of those, 215 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. Four investment grade corporate obligations comprise the remaining securities with unrealized losses at March 31, 2014. The Company considers the reason for impairment, length of impairment and ability 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. | |||||||||||||||||||||||||
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 $72.8 million and $109.1 million at March 31, 2014 and December 31, 2013, respectively, were pledged to secure public deposits and for other purposes required or permitted by law. At each of March 31, 2014 and December 31, 2013, 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_Not_Covered_by_FDIC_Shar
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses | ' | ||||||||||||||||||||||||
3 | LOANS NOT COVERED BY FDIC SHARED-LOSS AGREEMENT (NON-COVERED LOANS) AND RELATED ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||
The Company’s non-covered loans at March 31, 2014 and December 31, 2013 were comprised of the following (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Amount | % of Non- | Amount | % of Non- | ||||||||||||||||||||||
Covered Loans | Covered Loans | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 146,069 | 24.6 | % | $ | 144,382 | 24.21 | % | |||||||||||||||||
Commercial | 254,666 | 42.89 | 247,284 | 41.47 | |||||||||||||||||||||
Construction and land development | 54,914 | 9.25 | 55,278 | 9.27 | |||||||||||||||||||||
Second mortgages | 6,623 | 1.12 | 6,854 | 1.15 | |||||||||||||||||||||
Multifamily | 35,528 | 5.98 | 35,774 | 6 | |||||||||||||||||||||
Agriculture | 8,134 | 1.37 | 9,565 | 1.6 | |||||||||||||||||||||
Total real estate loans | 505,934 | 85.21 | 499,137 | 83.7 | |||||||||||||||||||||
Commercial loans | 80,942 | 13.63 | 90,142 | 15.12 | |||||||||||||||||||||
Consumer installment loans | 5,492 | 0.92 | 5,623 | 0.94 | |||||||||||||||||||||
All other loans | 1,430 | 0.24 | 1,435 | 0.24 | |||||||||||||||||||||
Gross loans | 593,798 | 100 | % | 596,337 | 100 | % | |||||||||||||||||||
Less unearned income on loans | (188 | ) | (164 | ) | |||||||||||||||||||||
Non-covered loans, net of unearned income | $ | 593,610 | $ | 596,173 | |||||||||||||||||||||
The Company held $31.2 million and $38.5 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 March 31, 2014 and December 31, 2013, respectively. As these loans are 100% guaranteed by the USDA, no loan loss provision is required. These loan balances included an unamortized purchase premium of $1.9 million and $2.5 million at March 31, 2014 and December 31, 2013, respectively. Unamortized purchase premium is recognized as an adjustment of the related loan yield on a straight line basis which is equivalent to the results obtained using the effective interest method. | |||||||||||||||||||||||||
At March 31, 2014 and December 31, 2013, the Company’s allowance for credit losses was comprised of the following: (i) specific valuation allowances calculated in accordance with FASB Accounting Standards Codification (ASC) 310, Receivables,(ii) general valuation allowances calculated in accordance with FASB ASC 450, Contingencies, based on economic conditions and other qualitative risk factors, and (iii) historical valuation allowances calculated using historical loan loss experience. Management identified loans subject to impairment in accordance with ASC 310. | |||||||||||||||||||||||||
Interest income on nonaccrual loans, if recognized, is recorded using the cash basis method of accounting. Cash basis income of $139,000 was recognized during the three months ended March 31, 2014. There were no significant amounts recognized during the three months ended March 31 2013. For the three months ended March 31, 2014 and 2013, estimated interest income of $261,000 and $350,000, respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. | |||||||||||||||||||||||||
The following table summarizes information related to impaired loans as of March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | |||||||||||||||||||||||
Investment (1) | Balance (2) | Allowance | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,507 | $ | 3,883 | $ | 1,023 | |||||||||||||||||||
Commercial | 1,678 | 1,750 | 463 | ||||||||||||||||||||||
Construction and land development | 4,169 | 5,320 | 514 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 48 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 9,579 | 11,179 | 2,048 | ||||||||||||||||||||||
Commercial loans | 57 | 701 | 12 | ||||||||||||||||||||||
Consumer installment loans | 90 | 91 | 19 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans with a valuation allowance | 9,726 | 11,971 | 2,079 | ||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 1,179 | 1,224 | — | ||||||||||||||||||||||
Commercial | 1,781 | 2,125 | — | ||||||||||||||||||||||
Construction and land development | 1,738 | 4,356 | — | ||||||||||||||||||||||
Second mortgages | — | — | — | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 4,698 | 7,705 | — | ||||||||||||||||||||||
Commercial loans | — | — | — | ||||||||||||||||||||||
Consumer installment loans | 5 | 6 | — | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans without a valuation allowance | 4,703 | 7,711 | — | ||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 4,686 | 5,107 | 1,023 | ||||||||||||||||||||||
Commercial | 3,459 | 3,875 | 463 | ||||||||||||||||||||||
Construction and land development | 5,907 | 9,676 | 514 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 48 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 14,277 | 18,884 | 2,048 | ||||||||||||||||||||||
Commercial loans | 57 | 701 | 12 | ||||||||||||||||||||||
Consumer installment loans | 95 | 97 | 19 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Total impaired loans | $ | 14,429 | $ | 19,682 | $ | 2,079 | |||||||||||||||||||
-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, 2013 (dollars in thousands): | |||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | |||||||||||||||||||||||
Investment (1) | Balance (2) | Allowance | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,485 | $ | 3,739 | $ | 881 | |||||||||||||||||||
Commercial | 920 | 1,091 | 150 | ||||||||||||||||||||||
Construction and land development | 4,148 | 5,298 | 508 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 40 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 8,778 | 10,354 | 1,579 | ||||||||||||||||||||||
Commercial loans | 127 | 794 | 16 | ||||||||||||||||||||||
Consumer installment loans | 49 | 51 | 9 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans with a valuation allowance | 8,954 | 11,199 | 1,604 | ||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 1,189 | 1,228 | — | ||||||||||||||||||||||
Commercial | 1,714 | 1,969 | — | ||||||||||||||||||||||
Construction and land development | 1,734 | 4,335 | — | ||||||||||||||||||||||
Second mortgages | — | — | — | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | 204 | 222 | — | ||||||||||||||||||||||
Total real estate loans | 4,841 | 7,754 | — | ||||||||||||||||||||||
Commercial loans | — | — | — | ||||||||||||||||||||||
Consumer installment loans | 6 | 6 | — | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans without a valuation allowance | 4,847 | 7,760 | — | ||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 4,674 | 4,967 | 881 | ||||||||||||||||||||||
Commercial | 2,634 | 3,060 | 150 | ||||||||||||||||||||||
Construction and land development | 5,882 | 9,633 | 508 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 40 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | 204 | 222 | — | ||||||||||||||||||||||
Total real estate loans | 13,619 | 18,108 | 1,579 | ||||||||||||||||||||||
Commercial loans | 127 | 794 | 16 | ||||||||||||||||||||||
Consumer installment loans | 55 | 57 | 9 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Total impaired loans | $ | 13,801 | $ | 18,959 | $ | 1,604 | |||||||||||||||||||
-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 months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 4,680 | $ | 6,775 | |||||||||||||||||||||
Commercial | 3,046 | 4,835 | |||||||||||||||||||||||
Construction and land development | 5,895 | 9,064 | |||||||||||||||||||||||
Second mortgages | 225 | 172 | |||||||||||||||||||||||
Multifamily | — | — | |||||||||||||||||||||||
Agriculture | 102 | 242 | |||||||||||||||||||||||
Total real estate loans | 13,948 | 21,088 | |||||||||||||||||||||||
Commercial loans | 92 | 397 | |||||||||||||||||||||||
Consumer installment loans | 76 | 91 | |||||||||||||||||||||||
All other loans | — | — | |||||||||||||||||||||||
Total impaired loans | $ | 14,116 | $ | 21,576 | |||||||||||||||||||||
The majority of impaired loans are also nonaccruing for which no interest income was recognized during each of the three months ended March 31, 2014 and 2013. No significant amounts of interest income were recognized on accruing impaired loans for each of the three months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||
The following table presents non-covered nonaccrual loans by category as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 4,153 | $ | 4,229 | |||||||||||||||||||||
Commercial | 2,208 | 1,382 | |||||||||||||||||||||||
Construction and land development | 5,907 | 5,882 | |||||||||||||||||||||||
Second mortgages | 225 | 225 | |||||||||||||||||||||||
Multifamily | — | — | |||||||||||||||||||||||
Agriculture | — | 205 | |||||||||||||||||||||||
Total real estate loans | 12,493 | 11,923 | |||||||||||||||||||||||
Commercial loans | 57 | 127 | |||||||||||||||||||||||
Consumer installment loans | 95 | 55 | |||||||||||||||||||||||
All other loans | — | — | |||||||||||||||||||||||
Total loans | $ | 12,645 | $ | 12,105 | |||||||||||||||||||||
Troubled debt restructures and some substandard loans still accruing interest are loans that management expects to ultimately collect all principal and interest due, but not under the terms of the original contract. A reconciliation of impaired loans to nonaccrual loans at March 31, 2014 and December 31, 2013, is set forth in the table below (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Nonaccruals | $ | 12,645 | $ | 12,105 | |||||||||||||||||||||
Trouble debt restructure and still accruing | 1,691 | 1,696 | |||||||||||||||||||||||
Substandard and still accruing | 93 | — | |||||||||||||||||||||||
Total impaired | $ | 14,429 | $ | 13,801 | |||||||||||||||||||||
The following tables present an age analysis of past due status of non-covered loans by category as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
30-89 | 90 Days | Total | Current | Total | Recorded | ||||||||||||||||||||
Days | Past Due | Past | Loans | Investment | |||||||||||||||||||||
Past | Due | 90 Days | |||||||||||||||||||||||
Due | Past Due | ||||||||||||||||||||||||
and | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,352 | $ | 4,153 | $ | 5,505 | $ | 140,564 | $ | 146,069 | $ | — | |||||||||||||
Commercial | 347 | 2,208 | 2,555 | 252,111 | 254,666 | — | |||||||||||||||||||
Construction and land development | — | 5,907 | 5,907 | 49,007 | 54,914 | — | |||||||||||||||||||
Second mortgages | — | 225 | 225 | 6,398 | 6,623 | — | |||||||||||||||||||
Multifamily | — | — | — | 35,528 | 35,528 | — | |||||||||||||||||||
Agriculture | — | — | — | 8,134 | 8,134 | — | |||||||||||||||||||
Total real estate loans | 1,699 | 12,493 | 14,192 | 491,742 | 505,934 | — | |||||||||||||||||||
Commercial loans | 245 | 57 | 302 | 80,640 | 80,942 | — | |||||||||||||||||||
Consumer installment loans | 13 | 95 | 108 | 5,384 | 5,492 | — | |||||||||||||||||||
All other loans | — | — | — | 1,430 | 1,430 | — | |||||||||||||||||||
Total loans | $ | 1,957 | $ | 12,645 | $ | 14,602 | $ | 579,196 | $ | 593,798 | $ | — | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
30-89 | 90 Days | Total | Current | Total | Recorded | ||||||||||||||||||||
Days | Past Due | Past | Loans | Investment | |||||||||||||||||||||
Past | Due | 90 Days | |||||||||||||||||||||||
Due | Past Due | ||||||||||||||||||||||||
and | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,455 | $ | 4,229 | $ | 5,684 | $ | 138,698 | $ | 144,382 | $ | — | |||||||||||||
Commercial | — | 1,382 | 1,382 | 245,902 | 247,284 | — | |||||||||||||||||||
Construction and land development | 242 | 5,882 | 6,124 | 49,154 | 55,278 | — | |||||||||||||||||||
Second mortgages | — | 225 | 225 | 6,629 | 6,854 | — | |||||||||||||||||||
Multifamily | — | — | — | 35,774 | 35,774 | — | |||||||||||||||||||
Agriculture | — | 205 | 205 | 9,360 | 9,565 | — | |||||||||||||||||||
Total real estate loans | 1,697 | 11,923 | 13,620 | 485,517 | 499,137 | — | |||||||||||||||||||
Commercial loans | 115 | 127 | 242 | 89,900 | 90,142 | — | |||||||||||||||||||
Consumer installment loans | 58 | 55 | 113 | 5,510 | 5,623 | — | |||||||||||||||||||
All other loans | — | — | — | 1,435 | 1,435 | — | |||||||||||||||||||
Total loans | $ | 1,870 | $ | 12,105 | $ | 13,975 | $ | 582,362 | $ | 596,337 | $ | — | |||||||||||||
Activity in the allowance for loan losses on non-covered loans for the three months ended March 31, 2014 and 2013 is presented in the following tables (dollars in thousands): | |||||||||||||||||||||||||
December 31, | Provision | Charge | Recoveries | March 31, | |||||||||||||||||||||
2013 | Allocation | offs | 2014 | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,853 | $ | (43 | ) | $ | (110 | ) | $ | 7 | $ | 3,707 | |||||||||||||
Commercial | 2,333 | 562 | — | 69 | 2,964 | ||||||||||||||||||||
Construction and land development | 2,252 | (359 | ) | — | 1 | 1,894 | |||||||||||||||||||
Second mortgages | 101 | 12 | — | 1 | 114 | ||||||||||||||||||||
Multifamily | 151 | 57 | — | — | 208 | ||||||||||||||||||||
Agriculture | 81 | (24 | ) | — | — | 57 | |||||||||||||||||||
Total real estate loans | 8,771 | 205 | (110 | ) | 78 | 8,944 | |||||||||||||||||||
Commercial loans | 1,546 | (218 | ) | — | 4 | 1,332 | |||||||||||||||||||
Consumer installment loans | 101 | 15 | (42 | ) | 36 | 110 | |||||||||||||||||||
All other loans | 26 | (2 | ) | — | — | 24 | |||||||||||||||||||
Total loans | $ | 10,444 | $ | — | $ | (152 | ) | $ | 118 | $ | 10,410 | ||||||||||||||
December 31, | Provision | Charge | Recoveries | March 31, | |||||||||||||||||||||
2012 | Allocation | offs | 2013 | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,985 | $ | 11 | $ | (34 | ) | $ | 46 | $ | 4,008 | ||||||||||||||
Commercial | 2,482 | 506 | (579 | ) | 5 | 2.414 | |||||||||||||||||||
Construction and land development | 3,773 | (565 | ) | — | 149 | 3,357 | |||||||||||||||||||
Second mortgages | 142 | (41 | ) | — | 4 | 105 | |||||||||||||||||||
Multifamily | 303 | 13 | — | — | 316 | ||||||||||||||||||||
Agriculture | 61 | 1 | — | — | 62 | ||||||||||||||||||||
Total real estate loans | 10,746 | (75 | ) | (613 | ) | 204 | 10,262 | ||||||||||||||||||
Commercial loans | 1,961 | 86 | (252 | ) | 21 | 1,816 | |||||||||||||||||||
Consumer installment loans | 195 | (21 | ) | (43 | ) | 21 | 152 | ||||||||||||||||||
All other loans | 18 | 10 | — | — | 28 | ||||||||||||||||||||
Total loans | $ | 12,920 | $ | — | $ | (908 | ) | $ | 246 | $ | 12,258 | ||||||||||||||
The following tables present information on the non-covered loans evaluated for impairment in the allowance for loan losses as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | ||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | ||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment (1) | Impairment | Impairment (1) | Impairment | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,069 | $ | 2,638 | $ | 3,707 | $ | 7,099 | $ | 138,970 | $ | 146,069 | |||||||||||||
Commercial | 495 | 2,469 | 2,964 | 8,609 | 246,057 | 254,666 | |||||||||||||||||||
Construction and land development | 557 | 1,337 | 1,894 | 7,055 | 47,859 | 54,914 | |||||||||||||||||||
Second mortgages | 50 | 64 | 114 | 254 | 6,369 | 6,623 | |||||||||||||||||||
Multifamily | — | 208 | 208 | — | 35,528 | 35,528 | |||||||||||||||||||
Agriculture | — | 57 | 57 | — | 8,134 | 8,134 | |||||||||||||||||||
Total real estate loans | 2,171 | 6,773 | 8,944 | 23,017 | 482,917 | 505,934 | |||||||||||||||||||
Commercial loans | 15 | 1,317 | 1,332 | 119 | 80,823 | 80,942 | |||||||||||||||||||
Consumer installment loans | 19 | 91 | 110 | 102 | 5,390 | 5,492 | |||||||||||||||||||
All other loans | — | 24 | 24 | — | 1,430 | 1,430 | |||||||||||||||||||
Total loans | $ | 2,205 | $ | 8,205 | $ | 10,410 | $ | 23,238 | $ | 570,560 | $ | 593,798 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | ||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | ||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment (1) | Impairment | Impairment (1) | Impairment | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 923 | $ | 2,930 | $ | 3,853 | $ | 6,708 | $ | 137,674 | $ | 144,382 | |||||||||||||
Commercial | 200 | 2,133 | 2,333 | 8,016 | 239,268 | 247,284 | |||||||||||||||||||
Construction and land development | 651 | 1,601 | 2,252 | 8,619 | 46,659 | 55,278 | |||||||||||||||||||
Second mortgages | 42 | 59 | 101 | 254 | 6,600 | 6,854 | |||||||||||||||||||
Multifamily | — | 151 | 151 | — | 35,774 | 35,774 | |||||||||||||||||||
Agriculture | — | 81 | 81 | 205 | 9,360 | 9,565 | |||||||||||||||||||
Total real estate loans | 1,816 | 6,955 | 8,771 | 23,802 | 475,335 | 499,137 | |||||||||||||||||||
Commercial loans | 18 | 1,528 | 1,546 | 192 | 89,950 | 90,142 | |||||||||||||||||||
Consumer installment loans | 9 | 92 | 101 | 57 | 5,566 | 5,623 | |||||||||||||||||||
All other loans | — | 26 | 26 | — | 1,435 | 1,435 | |||||||||||||||||||
Total loans | $ | 1,843 | $ | 8,601 | $ | 10,444 | $ | 24,051 | $ | 572,286 | $ | 596,337 | |||||||||||||
(1) | The category “Individually Evaluated for Impairment” includes loans individually evaluated for impairment and determined not to be impaired. These loans totaled $8.8 million and $10.3 million at March 31, 2014 and December 31, 2013, respectively. The allowance for loans losses allocated to these loans was $126,000 and $239,000 at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
Non-covered 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 $31.2 million and $38.5 million at March 31, 2014 and December 31, 2013, 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 following tables present the composition of non-covered loans by credit quality indicator at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 129,052 | $ | 9,918 | $ | 7,099 | $ | — | $ | 146,069 | |||||||||||||||
Commercial | 234,268 | 13,041 | 7,357 | — | 254,666 | ||||||||||||||||||||
Construction and land development | 46,578 | 1,303 | 7,033 | — | 54,914 | ||||||||||||||||||||
Second mortgages | 5,489 | 880 | 254 | — | 6,623 | ||||||||||||||||||||
Multifamily | 35,528 | — | — | — | 35,528 | ||||||||||||||||||||
Agriculture | 8,134 | — | — | — | 8,134 | ||||||||||||||||||||
Total real estate loans | 459,049 | 25,142 | 21,743 | — | 505,934 | ||||||||||||||||||||
Commercial loans | 69,227 | 11,596 | 119 | — | 80,942 | ||||||||||||||||||||
Consumer installment loans | 5,354 | 37 | 101 | — | 5,492 | ||||||||||||||||||||
All other loans | 1,430 | — | — | — | 1,430 | ||||||||||||||||||||
Total loans | $ | 535,060 | $ | 36,775 | $ | 21,963 | $ | — | $ | 593,798 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 129,482 | $ | 8,193 | $ | 6,707 | $ | — | $ | 144,382 | |||||||||||||||
Commercial | 229,168 | 11,348 | 6,768 | — | 247,284 | ||||||||||||||||||||
Construction and land development | 44,482 | 2,178 | 8,618 | — | 55,278 | ||||||||||||||||||||
Second mortgages | 6,172 | 428 | 254 | — | 6,854 | ||||||||||||||||||||
Multifamily | 35,774 | — | — | — | 35,774 | ||||||||||||||||||||
Agriculture | 9,361 | — | 204 | — | 9,565 | ||||||||||||||||||||
Total real estate loans | 454,439 | 22,147 | 22,551 | — | 499,137 | ||||||||||||||||||||
Commercial loans | 87,208 | 2,742 | 192 | — | 90,142 | ||||||||||||||||||||
Consumer installment loans | 5,344 | 222 | 57 | — | 5,623 | ||||||||||||||||||||
All other loans | 1,435 | — | — | — | 1,435 | ||||||||||||||||||||
Total loans | $ | 548,426 | $ | 25,111 | $ | 22,800 | $ | — | $ | 596,337 | |||||||||||||||
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. During the three months ended March 31, 2014 and 2013, there were no loans modified that were considered to be TDRs. | |||||||||||||||||||||||||
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 months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||
At March 31, 2014, the Company had 1-4 family mortgages in the amount of $137.2 million pledged as collateral to the Federal Home Loan Bank for a total borrowing capacity of $99.1 million. |
Loans_Covered_by_FDIC_SharedLo
Loans Covered by FDIC Shared-Loss Agreements (Covered Loans) and Related Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Loans Covered by FDIC Shared-Loss Agreements (Covered Loans) and Related Allowance for Loan Losses | ' | ||||||||||||||||
4 | LOANS COVERED BY FDIC SHARED-LOSS AGREEMENTS (COVERED 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 “covered 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 March 31, 2014 and December 31, 2013, the outstanding contractual balance of the covered loans was $113.8 million and $117.0 million, respectively. The carrying amount, by loan type, as of these dates is as follows (dollars in thousands): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Amount | % of Covered | Amount | % of Covered | ||||||||||||||
Loans | Loans | ||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||
Residential 1-4 family | $ | 63,531 | 88.41 | % | $ | 64,610 | 88.18 | % | |||||||||
Commercial | 1,298 | 1.81 | 1,389 | 1.9 | |||||||||||||
Construction and land development | 2,935 | 4.08 | 2,940 | 4.01 | |||||||||||||
Second mortgages | 3,827 | 5.33 | 3,898 | 5.32 | |||||||||||||
Multifamily | 269 | 0.37 | 266 | 0.36 | |||||||||||||
Agriculture | — | — | 172 | 0.23 | |||||||||||||
Total real estate loans | 71,860 | 100 | 73,275 | 100 | |||||||||||||
Total covered loans | $ | 71,860 | 100 | % | $ | 73,275 | 100 | % | |||||||||
There was no activity in the allowance for loan losses on covered loans for the three months ended March 31, 2014 and 2013. | |||||||||||||||||
The following table presents information on the covered loans collectively evaluated for impairment in the allowance for loan losses at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Allowance for | Recorded | Allowance for | Recorded | ||||||||||||||
loan losses | investment | loan losses | investment | ||||||||||||||
in loans | in loans | ||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||
Residential 1-4 family | $ | 252 | $ | 63,531 | $ | 252 | $ | 64,610 | |||||||||
Commercial | 232 | 1,298 | 232 | 1,389 | |||||||||||||
Construction and land development | — | 2,935 | — | 2,940 | |||||||||||||
Second mortgages | — | 3,827 | — | 3,898 | |||||||||||||
Multifamily | — | 269 | — | 266 | |||||||||||||
Agriculture | — | — | — | 172 | |||||||||||||
Total real estate loans | 484 | 71,860 | 484 | 73,275 | |||||||||||||
Total covered loans | $ | 484 | $ | 71,860 | $ | 484 | $ | 73,275 | |||||||||
The change in the accretable yield balance for the three months ended March 31, 2014 and the year ended December 31, 2013 is as follows (dollars in thousands): | |||||||||||||||||
Balance, January 1, 2013 | $ | 54,144 | |||||||||||||||
Accretion | (11,936 | ) | |||||||||||||||
Reclassification from nonaccretable Yield | 9,307 | ||||||||||||||||
Balance, December 31, 2013 | 51,515 | ||||||||||||||||
Accretion | (2,961 | ) | |||||||||||||||
Reclassification from nonaccretable Yield | (862 | ) | |||||||||||||||
Balance, March 31, 2014 | $ | 47,692 | |||||||||||||||
The covered loans were not classified as nonperforming assets as of March 31, 2014, 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 covered loans. |
FDIC_Agreements_and_FDIC_Indem
FDIC Agreements and FDIC Indemnification Asset | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
FDIC Agreements and FDIC Indemnification Asset | ' | ||||||||||||||||
5 | FDIC AGREEMENTS AND FDIC INDEMNIFICATION ASSET | ||||||||||||||||
On January 30, 2009, the Company entered into a Purchase and Assumption Agreement with the FDIC to assume all of the deposits and certain other liabilities and acquire substantially all assets of SFSB. Under the shared-loss agreements that are part of that agreement, the FDIC will reimburse the Bank for 80% of losses arising from covered loans and foreclosed real estate assets, on the first $118 million in losses on such covered loans and foreclosed real estate assets, and for 95% of losses on covered loans and foreclosed real estate assets thereafter. Under the shared-loss agreements, a “loss” on a covered loan or foreclosed real estate is defined generally as a realized loss incurred through a permitted disposition, foreclosure, short-sale or restructuring of the covered loan or foreclosed real estate. The reimbursements for losses on single family one-to-four residential mortgage assets are to be made quarterly through March 2019, and the reimbursements for losses on other covered assets were made quarterly through March 2014. The shared-loss agreements provide for indemnification from the first dollar of losses without any threshold requirement. The reimbursable losses from the FDIC are based on the book value of the relevant loan as determined by the FDIC at the date of the transaction, January 30, 2009. New loans made after that date are not covered by the shared-loss agreements. The fair value of the shared-loss agreements is detailed below. | |||||||||||||||||
The Company is accounting for the shared-loss agreements as an indemnification asset pursuant to the guidance in FASB ASC 805, Business Combinations. The FDIC indemnification asset is required to be measured in the same manner as the asset or liability to which it relates. The FDIC indemnification asset is measured separately from the covered loans and other real estate owned assets (OREO) because it is not contractually embedded in the covered loan and OREO and is not transferable should the Company choose to dispose of them. Fair value was estimated using projected cash flows available for loss sharing based on the credit adjustments estimated for each loan pool and other real estate owned and the loss sharing percentages outlined in the shared-loss agreements with the FDIC. These cash flows were discounted to reflect the uncertainty of the timing and receipt of the loss sharing reimbursement from the FDIC. | |||||||||||||||||
Because the acquired loans are subject to shared-loss agreements and a corresponding indemnification asset exists to represent the value of expected payments from the FDIC, increases and decreases in loan accretable yield due to changing loss expectations will also have an impact to the valuation of the FDIC indemnification asset. Improvement in loss expectations will typically increase loan accretable yield and decrease the value of the FDIC indemnification asset and, in some instances, result in an amortizable premium on the FDIC indemnification asset. Increases in loss expectations will typically be recognized as impairment in the current period through allowance for loan losses, resulting in additional noninterest income for the amount of the increase in the FDIC indemnification asset. | |||||||||||||||||
In addition to the premium amortization, the balance of the FDIC indemnification asset is affected by expected payments from the FDIC. Under the terms of the shared-loss agreements, the FDIC will reimburse the Company for loss events incurred related to the covered loan portfolio. These events include such things as future writedowns due to decreases in the fair market value of OREO, net loan charge-offs and recoveries, and net gains and losses on OREO sales. | |||||||||||||||||
As discussed above, the shared-loss agreement for assets other than one-to-four single family residential mortgages expired March 31, 2014. The FDIC indemnification asset related to those assets was zero at March 31, 2014. | |||||||||||||||||
The following table presents the balances of the FDIC indemnification asset at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||
Anticipated | Estimated | Amortizable | FDIC | ||||||||||||||
Expected | Loss | Premium | Indemnification | ||||||||||||||
Losses | Sharing | (Discount) | Asset | ||||||||||||||
Value | at Present | Total | |||||||||||||||
Value | |||||||||||||||||
January 1, 2013 | $ | 23,205 | $ | 18,564 | $ | 15,273 | $ | 33,837 | |||||||||
Increases: | |||||||||||||||||
Writedown of OREO property to FMV | 344 | 275 | 275 | ||||||||||||||
Decreases: | |||||||||||||||||
Net amortization of premium | (6,449 | ) | (6,449 | ) | |||||||||||||
Reclassifications to FDIC receivable: | |||||||||||||||||
Net loan charge-offs and recoveries | (1,268 | ) | (1,014 | ) | (1,014 | ) | |||||||||||
OREO sales | (1,180 | ) | (944 | ) | (944 | ) | |||||||||||
Reimbursements requested from FDIC | (370 | ) | (296 | ) | (296 | ) | |||||||||||
Reforecasted Change in Anticipated Expected Losses | (7,217 | ) | (5,774 | ) | 5,774 | — | |||||||||||
December 31, 2013 | $ | 13,514 | $ | 10,811 | $ | 14,598 | $ | 25,409 | |||||||||
Increases: | |||||||||||||||||
Writedown of OREO property to FMV | 21 | 17 | 17 | ||||||||||||||
Decreases: | |||||||||||||||||
Net amortization of premium | (1,498 | ) | (1,498 | ) | |||||||||||||
Reclassifications to FDIC receivable: | |||||||||||||||||
Net loan charge-offs and recoveries | (9 | ) | (7 | ) | (7 | ) | |||||||||||
OREO sales | (1 | ) | (1 | ) | (1 | ) | |||||||||||
Reimbursements requested from FDIC | (93 | ) | (74 | ) | (74 | ) | |||||||||||
Reforecasted Change in Anticipated Expected Losses | (6,167 | ) | (4,935 | ) | 4,935 | — | |||||||||||
March 31, 2014 | $ | 7,264 | $ | 5,811 | $ | 18,035 | $ | 23,846 | |||||||||
Deposits
Deposits | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
6 | DEPOSITS | ||||||||
The following table provides interest bearing deposit information, by type, as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
NOW | $ | 98,594 | $ | 102,111 | |||||
MMDA | 91,077 | 94,170 | |||||||
Savings | 76,950 | 75,159 | |||||||
Time deposits less than $100,000 | 242,139 | 235,482 | |||||||
Time deposits $100,000 and over | 322,473 | 315,287 | |||||||
Total interest bearing deposits | $ | 831,233 | $ | 822,209 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive (Loss) Income | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive (Loss) Income | ' | ||||||||||||
7 | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME | ||||||||||||
The following tables present activity net of tax in accumulated other comprehensive (loss) income (AOCI) for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||
Three months ended March 31, 2014 | |||||||||||||
Unrealized Gain | Defined Benefit | Total Other | |||||||||||
(Loss) on Securities | Pension Plan | Comprehensive | |||||||||||
(Loss) Income | |||||||||||||
Beginning balance | $ | (3,954 | ) | $ | (155 | ) | $ | (4,109 | ) | ||||
Other comprehensive loss before reclassifications | 2,472 | — | 2,472 | ||||||||||
Amounts reclassified from AOCI | (234 | ) | — | (234 | ) | ||||||||
Net current period other comprehensive loss | 2,238 | — | 2,238 | ||||||||||
Ending balance | $ | (1,716 | ) | $ | (155 | ) | $ | (1,871 | ) | ||||
Three months ended March 31, 2013 | |||||||||||||
Unrealized Gain | Defined Benefit | Total Other | |||||||||||
(Loss) on Securities | Pension Plan | Comprehensive | |||||||||||
(Loss) Income | |||||||||||||
Beginning balance | $ | 3,866 | $ | (1,038 | ) | $ | 2,828 | ||||||
Other comprehensive income before reclassifications | 32 | — | 32 | ||||||||||
Amounts reclassified from AOCI | (183 | ) | — | (183 | ) | ||||||||
Net current period other comprehensive loss | (151 | ) | — | (151 | ) | ||||||||
Ending balance | $ | 3,715 | $ | (1,038 | ) | $ | 2,677 | ||||||
The following tables present the effects of reclassifications out of accumulated other comprehensive income on line items of consolidated income for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||
Details about Accumulated Other | Amount Reclassified from Accumulated Other | Affected Line Item in the Unaudited | |||||||||||
Comprehensive Income Components | Comprehensive Income | Consolidated Statement of Income | |||||||||||
Three months ended | |||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||
Unrealized (gains) losses on securities available for sale | $ | (355 | ) | $ | (278 | ) | Gain on securities transactions, net | ||||||
121 | 95 | Income tax expense | |||||||||||
$ | (234 | ) | $ | (183 | ) | Net of tax | |||||||
Fair_Values_of_Assets_and_Liab
Fair Values of Assets and Liabilities | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Values of Assets and Liabilities | ' | ||||||||||||||||||||
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 March 31, 2014. | |||||||||||||||||||||
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). | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 106,628 | $ | 95,995 | $ | 10,633 | $ | — | |||||||||||||
U.S. Gov’t sponsored agencies | — | — | — | — | |||||||||||||||||
State, county and municipal | 131,864 | 281 | 131,583 | — | |||||||||||||||||
Corporate and other bonds | 5,490 | — | 5,490 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,477 | — | 2,477 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 24,886 | 3,364 | 21,522 | — | |||||||||||||||||
Total investment securities available for sale | 271,345 | 99,640 | 171,705 | — | |||||||||||||||||
Total assets at fair value | $ | 271,345 | $ | 99,640 | $ | 171,705 | $ | — | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 98,987 | $ | 94,935 | $ | 4,052 | $ | — | |||||||||||||
U.S. Gov’t sponsored agencies | 486 | — | 486 | — | |||||||||||||||||
State, county and municipal | 134,096 | 2,482 | 131,614 | — | |||||||||||||||||
Corporate and other bonds | 6,349 | — | 6,349 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 3,439 | — | 3,439 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 22,420 | 2,531 | 19,889 | — | |||||||||||||||||
Total investment securities available for sale | 265,777 | 99,948 | 165,829 | — | |||||||||||||||||
Loans held for sale | 100 | — | 100 | — | |||||||||||||||||
Total assets at fair value | $ | 265,877 | $ | 99,948 | $ | 165,929 | $ | — | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
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. Securities classified as Level 3 include asset-backed securities in less liquid markets. | |||||||||||||||||||||
Loans held for sale | |||||||||||||||||||||
The carrying amounts of loans held for sale approximate fair value. | |||||||||||||||||||||
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 table presents assets measured at fair value on a nonrecurring basis as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans, non-covered | $ | 10,500 | $ | — | $ | 2,303 | $ | 8,197 | |||||||||||||
Other real estate owned (OREO), non-covered | 5,439 | — | — | 5,439 | |||||||||||||||||
Other real estate owned (OREO), covered | 3,211 | — | — | 3,211 | |||||||||||||||||
Total assets at fair value | $ | 19,150 | $ | — | $ | 2,303 | $ | 16,847 | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans, non-covered | $ | 10,334 | $ | — | $ | 1,791 | $ | 8,543 | |||||||||||||
Other real estate owned (OREO), non-covered | 6,244 | — | — | 6,244 | |||||||||||||||||
Other real estate owned (OREO), covered | 2,692 | — | — | 2,692 | |||||||||||||||||
Total assets at fair value | 19,270 | $ | — | $ | 1,791 | $ | 17,479 | ||||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Impaired loans, non-covered | |||||||||||||||||||||
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 March 31, 2014 and December 31, 2013, 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 12 months old. 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. | |||||||||||||||||||||
Other real estate owned, covered and non-covered | |||||||||||||||||||||
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. This table excludes financial instruments for which the carrying value approximates fair value (dollars in thousands): | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Carrying Value | Estimated Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 26,625 | $ | 28,316 | $ | — | $ | 28,316 | $ | — | |||||||||||
Loans, non-covered | 583,200 | 589,365 | — | 581,168 | 8,197 | ||||||||||||||||
Loans, covered | 71,376 | 83,994 | — | — | 83,994 | ||||||||||||||||
FDIC indemnification asset | 23,846 | 5,614 | — | — | 5,614 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Interest bearing deposits | 831,233 | 840,079 | — | 840,079 | — | ||||||||||||||||
Long-term borrowings | 81,070 | 80,897 | — | 80,897 | — | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Carrying Value | Estimated Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 28,563 | $ | 30,305 | $ | — | $ | 30,305 | $ | — | |||||||||||
Loans, non-covered | 585,729 | 591,081 | — | 582,538 | 8,543 | ||||||||||||||||
Loans, covered | 72,791 | 88,693 | — | — | 88,693 | ||||||||||||||||
FDIC indemnification asset | 25,409 | 10,557 | — | — | 10,557 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Interest bearing deposits | 822,209 | 824,895 | — | 824,895 | — | ||||||||||||||||
Long-term borrowings | 81,249 | 81,014 | — | 81,014 | — | ||||||||||||||||
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 March 31, 2014. 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. | |||||||||||||||||||||
Securities held for investment | |||||||||||||||||||||
For securities held for investment, fair values are based on quoted market prices or dealer quotes. | |||||||||||||||||||||
Restricted securities | |||||||||||||||||||||
The carrying value of restricted securities approximates their fair value based on the redemption provisions of the respective issuer. | |||||||||||||||||||||
Loans held for sale | |||||||||||||||||||||
The carrying amounts of loans held for sale approximate fair value. | |||||||||||||||||||||
Loans not covered by FDIC shared-loss agreement (non-covered 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. | |||||||||||||||||||||
Loans covered by FDIC shared-loss agreement (covered loans) | |||||||||||||||||||||
Fair values for covered 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. | |||||||||||||||||||||
FDIC indemnification asset | |||||||||||||||||||||
Loss sharing assets are measured separately from the related covered assets as they are not contractually embedded in the covered assets and are not transferable with the assets should the Company choose to dispose of them. Fair value is estimated using projected cash flows related to the obligations under the shared-loss agreements based on the expected reimbursements for losses and the applicable loss sharing percentages. These expected reimbursements do not include reimbursable amounts related to future covered expenditures. These cash flows were discounted to reflect the uncertainty of the timing and receipt of the loss sharing reimbursement from the FDIC. A reduction in loss expectations has resulted in the estimated fair value of the FDIC indemnification asset being lower than its carrying value. This creates a premium that is amortized over the life of the asset and is reflected in Note 5. | |||||||||||||||||||||
Accrued interest receivable | |||||||||||||||||||||
The carrying amounts of accrued interest receivable approximate fair value. | |||||||||||||||||||||
Financial Liabilities | |||||||||||||||||||||
Noninterest bearing deposits | |||||||||||||||||||||
The carrying amount of noninterest bearing deposits approximates fair value. | |||||||||||||||||||||
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. | |||||||||||||||||||||
Long-term borrowings | |||||||||||||||||||||
The fair values of the Company’s borrowings, such as FHLB advances, 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. | |||||||||||||||||||||
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 | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Common Share | ' | ||||||||||||
9 | EARNINGS PER COMMON SHARE | ||||||||||||
Basic earnings per common share (EPS) is computed by dividing net income or loss available to common shareholders 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 (dollars and shares in thousands, except per share data): | |||||||||||||
Net | Weighted | Per Common Share | |||||||||||
Income Available | Average Common | Amount | |||||||||||
to Common | Shares | ||||||||||||
Shareholders | (Denominator) | ||||||||||||
(Numerator) | |||||||||||||
For the three months ended March 31, 2014 | |||||||||||||
Shares issued | 21,718 | ||||||||||||
Unissued vested restricted stock | 11 | ||||||||||||
Basic EPS | $ | 1,659 | 21,729 | $ | 0.08 | ||||||||
Effect of dilutive stock awards | — | 326 | — | ||||||||||
Diluted EPS | $ | 1,659 | 22,055 | $ | 0.08 | ||||||||
For the three months ended March 31, 2013 | |||||||||||||
Shares issued | 21,675 | ||||||||||||
Unissued vested restricted stock | 7 | ||||||||||||
Basic EPS | $ | 1,045 | 21,682 | $ | 0.05 | ||||||||
Effect of dilutive stock awards | — | 157 | — | ||||||||||
Diluted EPS | $ | 1,045 | 21,839 | $ | 0.05 | ||||||||
Excluded from the computation of diluted earnings per common share were 37,000 common shares issuable under awards or options during the three months ended March 31, 2014, because their inclusion would be anti-dilutive. Anti-dilutive common shares issuable under awards, options or warrants of $871,000 were excluded for the three months ended March 31, 2013. | |||||||||||||
In December 2008, the Company issued 17,680 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A to the United States Department of Treasury in connection with the Company’s participation in the Treasury’s TARP Capital Purchase Program. Under the terms of the Series A Preferred Stock, prior to its redemption, as discussed below, the Company was required to pay cumulative dividends on a quarterly basis at a rate of 5% per year on such amount through the February 2014 payment. After the February 2014 payment, the dividend rate automatically increased to 9% per year. The Company could defer dividend payments, but the dividend was a cumulative dividend that accrued for payment in the future. Deferred dividends also accrued interest at the same rate as the dividend. The failure to pay dividends for six dividend periods triggered the right for the holder of the Series A Preferred Stock to appoint two directors to the Company’s board. | |||||||||||||
During 2013, the Company repurchased 7,000 shares of the original 17,680 shares of Series A Preferred Stock. The Company funded the repurchase through the earnings of its banking subsidiary. | |||||||||||||
On April 23, 2014, the Company repurchased the remaining 10,680 shares of Series A Preferred Stock. The Company funded the repurchase through a term loan with SunTrust Bank. The form of the repurchase was a redemption under the terms of the TARP preferred stock. The Company paid the Treasury $10.9 million, which represented 100% of the par value of the preferred stock repurchased plus accrued dividends with respect to such shares. | |||||||||||||
The term loan with SunTrust Bank, which has a maturity date of April 21, 2017, requires that the Company make quarterly payments of 7.5% of the initial outstanding principal, plus accrued interest, during a six-quarter period beginning with the quarter ending December 31, 2014, quarterly payments of 10% of the initial outstanding principal, plus accrued interest, during the subsequent four-quarter period and the remaining principal amount and accrued interest at maturity. As elected by the Company, the initial interest rate on the loan is three-month LIBOR plus 3.50% per annum. | |||||||||||||
The Treasury continues to hold a warrant to purchase 780,000 shares of the Company’s common stock at an exercise price of $3.40. |
Defined_Benefit_Plan
Defined Benefit Plan | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Defined Benefit Plan | ' | ||||||||
10 | DEFINED BENEFIT PLAN | ||||||||
On May 31, 2008, the Company adopted the Bank of Essex noncontributory defined benefit pension plan for all full-time pre-merger Bank 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 participants effective December 31, 2010. The following table presents the components of net periodic benefit for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||
Three months ended March 31 | |||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Interest cost | $ | 56 | $ | 56 | |||||
Expected return on plan assets | (99 | ) | (101 | ) | |||||
Amortization of prior service cost | 1 | — | |||||||
Recognized net actuarial loss | 3 | 17 | |||||||
Net periodic benefit | $ | (39 | ) | $ | (28 | ) | |||
As of March 31, 2014, there had been no employer contributions for the plan year. The Company is considering terminating the pension plan in the future. No determination has been made and the Company has not determined the financial impact of the termination of the plan. |
Nature_of_Banking_Activities_a1
Nature of Banking Activities and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Organization | ' |
Organization | |
Community Bankers Trust Corporation (the “Company”) is a bank holding company that was originally incorporated in 2005. On January 1, 2014, the Company completed a reincorporation from Delaware, its original state of incorporation, to Virginia. The form of the reincorporation was the merger of the then existing Delaware corporation into a newly created Virginia corporation. The Company retained the same name and conducts business in the same manner as before the reincorporation. | |
The Company is headquartered in Richmond, Virginia and is the holding company for Essex Bank (the “Bank”), a Virginia state bank with 21 full-service offices, 14 of which are in Virginia and seven of which are in Maryland. The Bank also operates two loan production offices in Virginia. The Company relocated its corporate headquarters on March 31, 2014. The Bank opened a new branch office in Annapolis, Maryland on March 25, 2014 and a branch office at its new headquarters in Richmond, Virginia on April 7, 2014. | |
The Bank was established in 1926. 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 | ' |
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, 2013. The accounting and reporting policies of the Company conform to 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 March 31, 2014, and the statements of income, comprehensive income, changes in shareholders’ equity and cash flows for the three months ended March 31, 2014. Results for the three month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ended December 31, 2014. | |
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. | |
Certain reclassifications have been made to prior period balances to conform to the current period presentation. | |
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 | ' |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40) - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. Although current guidance indicates that a creditor should reclassify a collateralized mortgage loan as other real estate owned when it determines that there has been in substance a repossession or foreclosure by the creditor, that is, the creditor receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place, the terms in substance a repossession or foreclosure and physical possession are not defined in the accounting literature. This has resulted in diversity about when a creditor should derecognize the loan receivable and recognize the real estate property. The objective of the amendments in this Update is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs. The amendments state that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2014. Early adoption is permitted. The Company currently records foreclosures in accordance with this guidance; therefore, no changes are necessary for adoption. | |
Also in January 2014, the FASB issued ASU No. 2014-01, Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force). The amendments in this ASU apply to all reporting entities that invest in qualified affordable housing projects through limited liability entities that are flow through entities for tax purposes. Currently, an investor that invests in a qualified affordable housing project may elect to account for that investment using the effective yield method. Those not electing the effective yield method would account for the investment using the equity method or cost method. The Task Force received stakeholder feedback indicating that certain of the required conditions for the effective yield method are overly restrictive and thus prevent many investments in qualified affordable housing projects from qualifying for the use of this method. Those stakeholders stated that presenting the investment performance net of taxes as a component of income tax expense (benefit) as prescribed by the effective yield method more fairly represents the economics and provides users with a better understanding of the returns from such investments than the equity or cost methods. | |
The amendments in this ASU eliminate the effective yield election and permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Those not electing the proportional amortization method would account for the investment using the equity method or cost method. The decision to apply the proportional amortization method of accounting is an accounting policy decision that should be applied consistently to all qualifying affordable housing project investments rather than a decision to be applied to individual investments. A reporting entity should disclose information that enables users of its financial statements to understand the nature of its investments in qualified affordable housing projects, and the effect of the measurement of its investments in qualified affordable housing projects and the related tax credits on its financial position and results of operations. The amendments in this ASU should be applied retrospectively to all periods presented. The amendments in this ASU are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements. | |
Financing Receivable Allowance for Credit Losses | ' |
At March 31, 2014 and December 31, 2013, the Company’s allowance for credit losses was comprised of the following: (i) specific valuation allowances calculated in accordance with FASB Accounting Standards Codification (ASC) 310, Receivables, (ii) general valuation allowances calculated in accordance with FASB ASC 450, Contingencies, based on economic conditions and other qualitative risk factors, and (iii) historical valuation allowances calculated using historical loan loss experience. Management identified loans subject to impairment in accordance with ASC 310. | |
Loans Receivable Troubled Debt Restructuring | ' |
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. During the three months ended March 31, 2014 and 2013, there were no loans modified, that were considered to be TDRs. | |
Business Combinations | ' |
The Company is accounting for the shared-loss agreements as an indemnification asset pursuant to the guidance in FASB ASC 805, Business Combinations. | |
Fair Value Measurement | ' |
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. | |
Fair Value of Financial Instruments | ' |
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. | |
Impaired Financing Receivable | ' |
Once a loan is identified as individually impaired, management measures the impairment in accordance with FASB ASC 310, Receivables. |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity 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 March 31, 2014 and December 31, 2013 were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Gross Unrealized | |||||||||||||||||||||||||
Amortized | Gains | Losses | Fair Value | ||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 107,485 | $ | 108 | $ | (965 | ) | $ | 106,628 | ||||||||||||||||
U.S. Gov’t sponsored agencies | — | — | — | — | |||||||||||||||||||||
State, county and municipal | 133,226 | 1,970 | (3,332 | ) | 131,864 | ||||||||||||||||||||
Corporate and other bonds | 5,502 | 28 | (40 | ) | 5,490 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,602 | 20 | (145 | ) | 2,477 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 25,126 | 19 | (259 | ) | 24,886 | ||||||||||||||||||||
Total Securities Available for Sale | $ | 273,941 | $ | 2,145 | $ | (4,741 | ) | $ | 271,345 | ||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
State, county and municipal | $ | 9,069 | $ | 700 | $ | — | $ | 9,769 | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 6,202 | 372 | — | 6,574 | |||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 11,354 | 619 | — | 11,973 | |||||||||||||||||||||
Total Securities Held to Maturity | $ | 26,625 | $ | 1,691 | $ | — | $ | 28,316 | |||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Gross Unrealized | |||||||||||||||||||||||||
Amortized | Gains | Losses | Fair Value | ||||||||||||||||||||||
Cost | |||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 99,789 | $ | 165 | $ | (967 | ) | $ | 98,987 | ||||||||||||||||
U.S. Gov’t sponsored agencies | 487 | — | (1 | ) | 486 | ||||||||||||||||||||
State, county and municipal | 138,884 | 1,297 | (6,085 | ) | 134,096 | ||||||||||||||||||||
Corporate and other bonds | 6,369 | 27 | (47 | ) | 6,349 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 3,608 | 29 | (198 | ) | 3,439 | ||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 22,631 | 69 | (280 | ) | 22,420 | ||||||||||||||||||||
Total Securities Available for Sale | $ | 271,768 | $ | 1,587 | $ | (7,578 | ) | $ | 265,777 | ||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
State, county and municipal | $ | 9,385 | $ | 718 | $ | — | $ | 10,103 | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 6,604 | 398 | — | 7,002 | |||||||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 12,574 | 626 | — | 13,200 | |||||||||||||||||||||
Total Securities Held to Maturity | $ | 28,563 | $ | 1,742 | $ | — | $ | 30,305 | |||||||||||||||||
Amortized Cost and Fair Value of Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and fair value of securities at March 31, 2014 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 (dollars in thousands): | |||||||||||||||||||||||||
Held to Maturity | Available for Sale | ||||||||||||||||||||||||
Amortized | Fair | Amortized | Fair Value | ||||||||||||||||||||||
Cost | Value | Cost | |||||||||||||||||||||||
Due in one year or less | $ | 1,913 | $ | 1,942 | $ | 19,962 | $ | 19,894 | |||||||||||||||||
Due after one year through five years | 23,682 | 25,219 | 45,381 | 45,428 | |||||||||||||||||||||
Due after five years through ten years | 1,030 | 1,155 | 154,269 | 153,029 | |||||||||||||||||||||
Due after ten years | — | — | 54,329 | 52,994 | |||||||||||||||||||||
Total securities | $ | 26,625 | $ | 28,316 | $ | 273,941 | $ | 271,345 | |||||||||||||||||
Summary of Realized Gains and Losses on Sales of Securities | ' | ||||||||||||||||||||||||
Gross realized gains and losses on sales of securities available for sale during the periods were as follows (dollars in thousands): | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Gross realized gains | $ | 406 | $ | 321 | |||||||||||||||||||||
Gross realized losses | (51 | ) | (43 | ) | |||||||||||||||||||||
Net securities gains | $ | 355 | $ | 278 | |||||||||||||||||||||
Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale | ' | ||||||||||||||||||||||||
The fair value and gross unrealized losses for securities available for sale, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at March 31, 2014 and December 31, 2013 were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 62,299 | $ | (635 | ) | $ | 31,123 | $ | (330 | ) | $ | 93,422 | $ | (965 | ) | ||||||||||
State, county and municipal | 69,003 | (2,603 | ) | 9,619 | (729 | ) | 78,622 | (3,332 | ) | ||||||||||||||||
Corporate and other bonds | 3,282 | (40 | ) | — | — | 3,282 | (40 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 1,852 | (145 | ) | — | — | 1,852 | (145 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 17,440 | (229 | ) | 2,188 | (30 | ) | 19,628 | (259 | ) | ||||||||||||||||
Total | $ | 153,876 | $ | (3,652 | ) | $ | 42,930 | $ | (1,089 | ) | $ | 196,806 | $ | (4,741 | ) | ||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | Fair Value | Unrealized Loss | ||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 35,873 | $ | (531 | ) | $ | 37,638 | $ | (436 | ) | $ | 73,511 | $ | (967 | ) | ||||||||||
U.S. Gov’t sponsored agencies | 486 | (1 | ) | — | — | 486 | (1 | ) | |||||||||||||||||
State, county and municipal | 92,010 | (5,343 | ) | 6,445 | (742 | ) | 98,455 | (6,085 | ) | ||||||||||||||||
Corporate and other bonds | 3,332 | (42 | ) | 991 | (5 | ) | 4,323 | (47 | ) | ||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,767 | (198 | ) | — | — | 2,767 | (198 | ) | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 14,572 | (258 | ) | 1,557 | (22 | ) | 16,129 | (280 | ) | ||||||||||||||||
Total | $ | 149,040 | $ | (6,373 | ) | $ | 46,631 | $ | (1,205 | ) | $ | 195,671 | $ | (7,578 | ) |
Loans_Not_Covered_by_FDIC_Shar1
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Summary of Non-Covered Loans | ' | ||||||||||||||||||||||||
The Company’s non-covered loans at March 31, 2014 and December 31, 2013 were comprised of the following (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Amount | % of Non- | Amount | % of Non- | ||||||||||||||||||||||
Covered Loans | Covered Loans | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 146,069 | 24.6 | % | $ | 144,382 | 24.21 | % | |||||||||||||||||
Commercial | 254,666 | 42.89 | 247,284 | 41.47 | |||||||||||||||||||||
Construction and land development | 54,914 | 9.25 | 55,278 | 9.27 | |||||||||||||||||||||
Second mortgages | 6,623 | 1.12 | 6,854 | 1.15 | |||||||||||||||||||||
Multifamily | 35,528 | 5.98 | 35,774 | 6 | |||||||||||||||||||||
Agriculture | 8,134 | 1.37 | 9,565 | 1.6 | |||||||||||||||||||||
Total real estate loans | 505,934 | 85.21 | 499,137 | 83.7 | |||||||||||||||||||||
Commercial loans | 80,942 | 13.63 | 90,142 | 15.12 | |||||||||||||||||||||
Consumer installment loans | 5,492 | 0.92 | 5,623 | 0.94 | |||||||||||||||||||||
All other loans | 1,430 | 0.24 | 1,435 | 0.24 | |||||||||||||||||||||
Gross loans | 593,798 | 100 | % | 596,337 | 100 | % | |||||||||||||||||||
Less unearned income on loans | (188 | ) | (164 | ) | |||||||||||||||||||||
Non-covered loans, net of unearned income | $ | 593,610 | $ | 596,173 | |||||||||||||||||||||
Summary of Information Related to Impaired Loans | ' | ||||||||||||||||||||||||
The following table summarizes information related to impaired loans as of March 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | |||||||||||||||||||||||
Investment (1) | Balance (2) | Allowance | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,507 | $ | 3,883 | $ | 1,023 | |||||||||||||||||||
Commercial | 1,678 | 1,750 | 463 | ||||||||||||||||||||||
Construction and land development | 4,169 | 5,320 | 514 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 48 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 9,579 | 11,179 | 2,048 | ||||||||||||||||||||||
Commercial loans | 57 | 701 | 12 | ||||||||||||||||||||||
Consumer installment loans | 90 | 91 | 19 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans with a valuation allowance | 9,726 | 11,971 | 2,079 | ||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 1,179 | 1,224 | — | ||||||||||||||||||||||
Commercial | 1,781 | 2,125 | — | ||||||||||||||||||||||
Construction and land development | 1,738 | 4,356 | — | ||||||||||||||||||||||
Second mortgages | — | — | — | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 4,698 | 7,705 | — | ||||||||||||||||||||||
Commercial loans | — | — | — | ||||||||||||||||||||||
Consumer installment loans | 5 | 6 | — | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans without a valuation allowance | 4,703 | 7,711 | — | ||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 4,686 | 5,107 | 1,023 | ||||||||||||||||||||||
Commercial | 3,459 | 3,875 | 463 | ||||||||||||||||||||||
Construction and land development | 5,907 | 9,676 | 514 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 48 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 14,277 | 18,884 | 2,048 | ||||||||||||||||||||||
Commercial loans | 57 | 701 | 12 | ||||||||||||||||||||||
Consumer installment loans | 95 | 97 | 19 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Total impaired loans | $ | 14,429 | $ | 19,682 | $ | 2,079 | |||||||||||||||||||
-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, 2013 (dollars in thousands): | |||||||||||||||||||||||||
Recorded | Unpaid Principal | Related | |||||||||||||||||||||||
Investment (1) | Balance (2) | Allowance | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,485 | $ | 3,739 | $ | 881 | |||||||||||||||||||
Commercial | 920 | 1,091 | 150 | ||||||||||||||||||||||
Construction and land development | 4,148 | 5,298 | 508 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 40 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | — | — | — | ||||||||||||||||||||||
Total real estate loans | 8,778 | 10,354 | 1,579 | ||||||||||||||||||||||
Commercial loans | 127 | 794 | 16 | ||||||||||||||||||||||
Consumer installment loans | 49 | 51 | 9 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans with a valuation allowance | 8,954 | 11,199 | 1,604 | ||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 1,189 | 1,228 | — | ||||||||||||||||||||||
Commercial | 1,714 | 1,969 | — | ||||||||||||||||||||||
Construction and land development | 1,734 | 4,335 | — | ||||||||||||||||||||||
Second mortgages | — | — | — | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | 204 | 222 | — | ||||||||||||||||||||||
Total real estate loans | 4,841 | 7,754 | — | ||||||||||||||||||||||
Commercial loans | — | — | — | ||||||||||||||||||||||
Consumer installment loans | 6 | 6 | — | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Subtotal impaired loans without a valuation allowance | 4,847 | 7,760 | — | ||||||||||||||||||||||
Total: | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | 4,674 | 4,967 | 881 | ||||||||||||||||||||||
Commercial | 2,634 | 3,060 | 150 | ||||||||||||||||||||||
Construction and land development | 5,882 | 9,633 | 508 | ||||||||||||||||||||||
Second mortgages | 225 | 226 | 40 | ||||||||||||||||||||||
Multifamily | — | — | — | ||||||||||||||||||||||
Agriculture | 204 | 222 | — | ||||||||||||||||||||||
Total real estate loans | 13,619 | 18,108 | 1,579 | ||||||||||||||||||||||
Commercial loans | 127 | 794 | 16 | ||||||||||||||||||||||
Consumer installment loans | 55 | 57 | 9 | ||||||||||||||||||||||
All other loans | — | — | — | ||||||||||||||||||||||
Total impaired loans | $ | 13,801 | $ | 18,959 | $ | 1,604 | |||||||||||||||||||
-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 months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 4,680 | $ | 6,775 | |||||||||||||||||||||
Commercial | 3,046 | 4,835 | |||||||||||||||||||||||
Construction and land development | 5,895 | 9,064 | |||||||||||||||||||||||
Second mortgages | 225 | 172 | |||||||||||||||||||||||
Multifamily | — | — | |||||||||||||||||||||||
Agriculture | 102 | 242 | |||||||||||||||||||||||
Total real estate loans | 13,948 | 21,088 | |||||||||||||||||||||||
Commercial loans | 92 | 397 | |||||||||||||||||||||||
Consumer installment loans | 76 | 91 | |||||||||||||||||||||||
All other loans | — | — | |||||||||||||||||||||||
Total impaired loans | $ | 14,116 | $ | 21,576 | |||||||||||||||||||||
Summarizes Non-Accrual Loans by Category | ' | ||||||||||||||||||||||||
The following table presents non-covered nonaccrual loans by category as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 4,153 | $ | 4,229 | |||||||||||||||||||||
Commercial | 2,208 | 1,382 | |||||||||||||||||||||||
Construction and land development | 5,907 | 5,882 | |||||||||||||||||||||||
Second mortgages | 225 | 225 | |||||||||||||||||||||||
Multifamily | — | — | |||||||||||||||||||||||
Agriculture | — | 205 | |||||||||||||||||||||||
Total real estate loans | 12,493 | 11,923 | |||||||||||||||||||||||
Commercial loans | 57 | 127 | |||||||||||||||||||||||
Consumer installment loans | 95 | 55 | |||||||||||||||||||||||
All other loans | — | — | |||||||||||||||||||||||
Total loans | $ | 12,645 | $ | 12,105 | |||||||||||||||||||||
Reconciliation of Impaired Loans to Nonaccrual Loans | ' | ||||||||||||||||||||||||
A reconciliation of impaired loans to nonaccrual loans at March 31, 2014 and December 31, 2013, is set forth in the table below (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Nonaccruals | $ | 12,645 | $ | 12,105 | |||||||||||||||||||||
Trouble debt restructure and still accruing | 1,691 | 1,696 | |||||||||||||||||||||||
Substandard and still accruing | 93 | — | |||||||||||||||||||||||
Total impaired | $ | 14,429 | $ | 13,801 | |||||||||||||||||||||
Age Analysis of Past Due Status of Non-Covered Loans | ' | ||||||||||||||||||||||||
The following tables present an age analysis of past due status of non-covered loans by category as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
30-89 | 90 Days | Total | Current | Total | Recorded | ||||||||||||||||||||
Days | Past Due | Past | Loans | Investment | |||||||||||||||||||||
Past | Due | 90 Days | |||||||||||||||||||||||
Due | Past Due | ||||||||||||||||||||||||
and | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,352 | $ | 4,153 | $ | 5,505 | $ | 140,564 | $ | 146,069 | $ | — | |||||||||||||
Commercial | 347 | 2,208 | 2,555 | 252,111 | 254,666 | — | |||||||||||||||||||
Construction and land development | — | 5,907 | 5,907 | 49,007 | 54,914 | — | |||||||||||||||||||
Second mortgages | — | 225 | 225 | 6,398 | 6,623 | — | |||||||||||||||||||
Multifamily | — | — | — | 35,528 | 35,528 | — | |||||||||||||||||||
Agriculture | — | — | — | 8,134 | 8,134 | — | |||||||||||||||||||
Total real estate loans | 1,699 | 12,493 | 14,192 | 491,742 | 505,934 | — | |||||||||||||||||||
Commercial loans | 245 | 57 | 302 | 80,640 | 80,942 | — | |||||||||||||||||||
Consumer installment loans | 13 | 95 | 108 | 5,384 | 5,492 | — | |||||||||||||||||||
All other loans | — | — | — | 1,430 | 1,430 | — | |||||||||||||||||||
Total loans | $ | 1,957 | $ | 12,645 | $ | 14,602 | $ | 579,196 | $ | 593,798 | $ | — | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
30-89 | 90 Days | Total | Current | Total | Recorded | ||||||||||||||||||||
Days | Past Due | Past | Loans | Investment | |||||||||||||||||||||
Past | Due | 90 Days | |||||||||||||||||||||||
Due | Past Due | ||||||||||||||||||||||||
and | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,455 | $ | 4,229 | $ | 5,684 | $ | 138,698 | $ | 144,382 | $ | — | |||||||||||||
Commercial | — | 1,382 | 1,382 | 245,902 | 247,284 | — | |||||||||||||||||||
Construction and land development | 242 | 5,882 | 6,124 | 49,154 | 55,278 | — | |||||||||||||||||||
Second mortgages | — | 225 | 225 | 6,629 | 6,854 | — | |||||||||||||||||||
Multifamily | — | — | — | 35,774 | 35,774 | — | |||||||||||||||||||
Agriculture | — | 205 | 205 | 9,360 | 9,565 | — | |||||||||||||||||||
Total real estate loans | 1,697 | 11,923 | 13,620 | 485,517 | 499,137 | — | |||||||||||||||||||
Commercial loans | 115 | 127 | 242 | 89,900 | 90,142 | — | |||||||||||||||||||
Consumer installment loans | 58 | 55 | 113 | 5,510 | 5,623 | — | |||||||||||||||||||
All other loans | — | — | — | 1,435 | 1,435 | — | |||||||||||||||||||
Total loans | $ | 1,870 | $ | 12,105 | $ | 13,975 | $ | 582,362 | $ | 596,337 | $ | — | |||||||||||||
Allowance for Loan Losses on Non-Covered Loans by Segment | ' | ||||||||||||||||||||||||
Activity in the allowance for loan losses on non-covered loans for the three months ended March 31, 2014 and 2013 is presented in the following tables (dollars in thousands): | |||||||||||||||||||||||||
December 31, | Provision | Charge | Recoveries | March 31, | |||||||||||||||||||||
2013 | Allocation | offs | 2014 | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,853 | $ | (43 | ) | $ | (110 | ) | $ | 7 | $ | 3,707 | |||||||||||||
Commercial | 2,333 | 562 | — | 69 | 2,964 | ||||||||||||||||||||
Construction and land development | 2,252 | (359 | ) | — | 1 | 1,894 | |||||||||||||||||||
Second mortgages | 101 | 12 | — | 1 | 114 | ||||||||||||||||||||
Multifamily | 151 | 57 | — | — | 208 | ||||||||||||||||||||
Agriculture | 81 | (24 | ) | — | — | 57 | |||||||||||||||||||
Total real estate loans | 8,771 | 205 | (110 | ) | 78 | 8,944 | |||||||||||||||||||
Commercial loans | 1,546 | (218 | ) | — | 4 | 1,332 | |||||||||||||||||||
Consumer installment loans | 101 | 15 | (42 | ) | 36 | 110 | |||||||||||||||||||
All other loans | 26 | (2 | ) | — | — | 24 | |||||||||||||||||||
Total loans | $ | 10,444 | $ | — | $ | (152 | ) | $ | 118 | $ | 10,410 | ||||||||||||||
December 31, | Provision | Charge | Recoveries | March 31, | |||||||||||||||||||||
2012 | Allocation | offs | 2013 | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 3,985 | $ | 11 | $ | (34 | ) | $ | 46 | $ | 4,008 | ||||||||||||||
Commercial | 2,482 | 506 | (579 | ) | 5 | 2.414 | |||||||||||||||||||
Construction and land development | 3,773 | (565 | ) | — | 149 | 3,357 | |||||||||||||||||||
Second mortgages | 142 | (41 | ) | — | 4 | 105 | |||||||||||||||||||
Multifamily | 303 | 13 | — | — | 316 | ||||||||||||||||||||
Agriculture | 61 | 1 | — | — | 62 | ||||||||||||||||||||
Total real estate loans | 10,746 | (75 | ) | (613 | ) | 204 | 10,262 | ||||||||||||||||||
Commercial loans | 1,961 | 86 | (252 | ) | 21 | 1,816 | |||||||||||||||||||
Consumer installment loans | 195 | (21 | ) | (43 | ) | 21 | 152 | ||||||||||||||||||
All other loans | 18 | 10 | — | — | 28 | ||||||||||||||||||||
Total loans | $ | 12,920 | $ | — | $ | (908 | ) | $ | 246 | $ | 12,258 | ||||||||||||||
Non-Covered Loans Evaluated for Impairment | ' | ||||||||||||||||||||||||
The following tables present information on the non-covered loans evaluated for impairment in the allowance for loan losses as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | ||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | ||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment (1) | Impairment | Impairment (1) | Impairment | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 1,069 | $ | 2,638 | $ | 3,707 | $ | 7,099 | $ | 138,970 | $ | 146,069 | |||||||||||||
Commercial | 495 | 2,469 | 2,964 | 8,609 | 246,057 | 254,666 | |||||||||||||||||||
Construction and land development | 557 | 1,337 | 1,894 | 7,055 | 47,859 | 54,914 | |||||||||||||||||||
Second mortgages | 50 | 64 | 114 | 254 | 6,369 | 6,623 | |||||||||||||||||||
Multifamily | — | 208 | 208 | — | 35,528 | 35,528 | |||||||||||||||||||
Agriculture | — | 57 | 57 | — | 8,134 | 8,134 | |||||||||||||||||||
Total real estate loans | 2,171 | 6,773 | 8,944 | 23,017 | 482,917 | 505,934 | |||||||||||||||||||
Commercial loans | 15 | 1,317 | 1,332 | 119 | 80,823 | 80,942 | |||||||||||||||||||
Consumer installment loans | 19 | 91 | 110 | 102 | 5,390 | 5,492 | |||||||||||||||||||
All other loans | — | 24 | 24 | — | 1,430 | 1,430 | |||||||||||||||||||
Total loans | $ | 2,205 | $ | 8,205 | $ | 10,410 | $ | 23,238 | $ | 570,560 | $ | 593,798 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | ||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | ||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment (1) | Impairment | Impairment (1) | Impairment | ||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 923 | $ | 2,930 | $ | 3,853 | $ | 6,708 | $ | 137,674 | $ | 144,382 | |||||||||||||
Commercial | 200 | 2,133 | 2,333 | 8,016 | 239,268 | 247,284 | |||||||||||||||||||
Construction and land development | 651 | 1,601 | 2,252 | 8,619 | 46,659 | 55,278 | |||||||||||||||||||
Second mortgages | 42 | 59 | 101 | 254 | 6,600 | 6,854 | |||||||||||||||||||
Multifamily | — | 151 | 151 | — | 35,774 | 35,774 | |||||||||||||||||||
Agriculture | — | 81 | 81 | 205 | 9,360 | 9,565 | |||||||||||||||||||
Total real estate loans | 1,816 | 6,955 | 8,771 | 23,802 | 475,335 | 499,137 | |||||||||||||||||||
Commercial loans | 18 | 1,528 | 1,546 | 192 | 89,950 | 90,142 | |||||||||||||||||||
Consumer installment loans | 9 | 92 | 101 | 57 | 5,566 | 5,623 | |||||||||||||||||||
All other loans | — | 26 | 26 | — | 1,435 | 1,435 | |||||||||||||||||||
Total loans | $ | 1,843 | $ | 8,601 | $ | 10,444 | $ | 24,051 | $ | 572,286 | $ | 596,337 | |||||||||||||
(1) | The category “Individually Evaluated for Impairment” includes loans individually evaluated for impairment and determined not to be impaired. These loans totaled $8.8 million and $10.3 million at March 31, 2014 and December 31, 2013, respectively. The allowance for loans losses allocated to these loans was $126,000 and $239,000 at March 31, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||
Non-Covered Loans by Credit Quality Indicator | ' | ||||||||||||||||||||||||
The following tables present the composition of non-covered loans by credit quality indicator at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 129,052 | $ | 9,918 | $ | 7,099 | $ | — | $ | 146,069 | |||||||||||||||
Commercial | 234,268 | 13,041 | 7,357 | — | 254,666 | ||||||||||||||||||||
Construction and land development | 46,578 | 1,303 | 7,033 | — | 54,914 | ||||||||||||||||||||
Second mortgages | 5,489 | 880 | 254 | — | 6,623 | ||||||||||||||||||||
Multifamily | 35,528 | — | — | — | 35,528 | ||||||||||||||||||||
Agriculture | 8,134 | — | — | — | 8,134 | ||||||||||||||||||||
Total real estate loans | 459,049 | 25,142 | 21,743 | — | 505,934 | ||||||||||||||||||||
Commercial loans | 69,227 | 11,596 | 119 | — | 80,942 | ||||||||||||||||||||
Consumer installment loans | 5,354 | 37 | 101 | — | 5,492 | ||||||||||||||||||||
All other loans | 1,430 | — | — | — | 1,430 | ||||||||||||||||||||
Total loans | $ | 535,060 | $ | 36,775 | $ | 21,963 | $ | — | $ | 593,798 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||||
Mention | |||||||||||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||||||||||
Residential 1-4 family | $ | 129,482 | $ | 8,193 | $ | 6,707 | $ | — | $ | 144,382 | |||||||||||||||
Commercial | 229,168 | 11,348 | 6,768 | — | 247,284 | ||||||||||||||||||||
Construction and land development | 44,482 | 2,178 | 8,618 | — | 55,278 | ||||||||||||||||||||
Second mortgages | 6,172 | 428 | 254 | — | 6,854 | ||||||||||||||||||||
Multifamily | 35,774 | — | — | — | 35,774 | ||||||||||||||||||||
Agriculture | 9,361 | — | 204 | — | 9,565 | ||||||||||||||||||||
Total real estate loans | 454,439 | 22,147 | 22,551 | — | 499,137 | ||||||||||||||||||||
Commercial loans | 87,208 | 2,742 | 192 | — | 90,142 | ||||||||||||||||||||
Consumer installment loans | 5,344 | 222 | 57 | — | 5,623 | ||||||||||||||||||||
All other loans | 1,435 | — | — | — | 1,435 | ||||||||||||||||||||
Total loans | $ | 548,426 | $ | 25,111 | $ | 22,800 | $ | — | $ | 596,337 | |||||||||||||||
Loans_Covered_by_FDIC_SharedLo1
Loans Covered by FDIC Shared-Loss Agreements (Covered Loans) and Related Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Summary of Covered Loans | ' | ||||||||||||||||
As of March 31, 2014 and December 31, 2013, the outstanding contractual balance of the covered loans was $113.8 million and $117.0 million, respectively. The carrying amount, by loan type, as of these dates is as follows (dollars in thousands): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Amount | % of Covered | Amount | % of Covered | ||||||||||||||
Loans | Loans | ||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||
Residential 1-4 family | $ | 63,531 | 88.41 | % | $ | 64,610 | 88.18 | % | |||||||||
Commercial | 1,298 | 1.81 | 1,389 | 1.9 | |||||||||||||
Construction and land development | 2,935 | 4.08 | 2,940 | 4.01 | |||||||||||||
Second mortgages | 3,827 | 5.33 | 3,898 | 5.32 | |||||||||||||
Multifamily | 269 | 0.37 | 266 | 0.36 | |||||||||||||
Agriculture | — | — | 172 | 0.23 | |||||||||||||
Total real estate loans | 71,860 | 100 | 73,275 | 100 | |||||||||||||
Total covered loans | $ | 71,860 | 100 | % | $ | 73,275 | 100 | % | |||||||||
Summary of Covered Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses | ' | ||||||||||||||||
The following table presents information on the covered loans collectively evaluated for impairment in the allowance for loan losses at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Allowance for | Recorded | Allowance for | Recorded | ||||||||||||||
loan losses | investment | loan losses | investment | ||||||||||||||
in loans | in loans | ||||||||||||||||
Mortgage loans on real estate: | |||||||||||||||||
Residential 1-4 family | $ | 252 | $ | 63,531 | $ | 252 | $ | 64,610 | |||||||||
Commercial | 232 | 1,298 | 232 | 1,389 | |||||||||||||
Construction and land development | — | 2,935 | — | 2,940 | |||||||||||||
Second mortgages | — | 3,827 | — | 3,898 | |||||||||||||
Multifamily | — | 269 | — | 266 | |||||||||||||
Agriculture | — | — | — | 172 | |||||||||||||
Total real estate loans | 484 | 71,860 | 484 | 73,275 | |||||||||||||
Total covered loans | $ | 484 | $ | 71,860 | $ | 484 | $ | 73,275 | |||||||||
Summary of Changes in the Accretable Yield | ' | ||||||||||||||||
The change in the accretable yield balance for the three months ended March 31, 2014 and the year ended December 31, 2013 is as follows (dollars in thousands): | |||||||||||||||||
Balance, January 1, 2013 | $ | 54,144 | |||||||||||||||
Accretion | (11,936 | ) | |||||||||||||||
Reclassification from nonaccretable Yield | 9,307 | ||||||||||||||||
Balance, December 31, 2013 | 51,515 | ||||||||||||||||
Accretion | (2,961 | ) | |||||||||||||||
Reclassification from nonaccretable Yield | (862 | ) | |||||||||||||||
Balance, March 31, 2014 | $ | 47,692 |
FDIC_Agreements_and_FDIC_Indem1
FDIC Agreements and FDIC Indemnification Asset (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Summary Balances of FDIC Indemnification Asset | ' | ||||||||||||||||
The following table presents the balances of the FDIC indemnification asset at March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||
Anticipated | Estimated | Amortizable | FDIC | ||||||||||||||
Expected | Loss | Premium | Indemnification | ||||||||||||||
Losses | Sharing | (Discount) | Asset | ||||||||||||||
Value | at Present | Total | |||||||||||||||
Value | |||||||||||||||||
January 1, 2013 | $ | 23,205 | $ | 18,564 | $ | 15,273 | $ | 33,837 | |||||||||
Increases: | |||||||||||||||||
Writedown of OREO property to FMV | 344 | 275 | 275 | ||||||||||||||
Decreases: | |||||||||||||||||
Net amortization of premium | (6,449 | ) | (6,449 | ) | |||||||||||||
Reclassifications to FDIC receivable: | |||||||||||||||||
Net loan charge-offs and recoveries | (1,268 | ) | (1,014 | ) | (1,014 | ) | |||||||||||
OREO sales | (1,180 | ) | (944 | ) | (944 | ) | |||||||||||
Reimbursements requested from FDIC | (370 | ) | (296 | ) | (296 | ) | |||||||||||
Reforecasted Change in Anticipated Expected Losses | (7,217 | ) | (5,774 | ) | 5,774 | — | |||||||||||
December 31, 2013 | $ | 13,514 | $ | 10,811 | $ | 14,598 | $ | 25,409 | |||||||||
Increases: | |||||||||||||||||
Writedown of OREO property to FMV | 21 | 17 | 17 | ||||||||||||||
Decreases: | |||||||||||||||||
Net amortization of premium | (1,498 | ) | (1,498 | ) | |||||||||||||
Reclassifications to FDIC receivable: | |||||||||||||||||
Net loan charge-offs and recoveries | (9 | ) | (7 | ) | (7 | ) | |||||||||||
OREO sales | (1 | ) | (1 | ) | (1 | ) | |||||||||||
Reimbursements requested from FDIC | (93 | ) | (74 | ) | (74 | ) | |||||||||||
Reforecasted Change in Anticipated Expected Losses | (6,167 | ) | (4,935 | ) | 4,935 | — | |||||||||||
March 31, 2014 | $ | 7,264 | $ | 5,811 | $ | 18,035 | $ | 23,846 | |||||||||
Deposits_Tables
Deposits (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Summary of Interest Bearing Deposits | ' | ||||||||
The following table provides interest bearing deposit information, by type, as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||
March 31, 2014 | December 31, 2013 | ||||||||
NOW | $ | 98,594 | $ | 102,111 | |||||
MMDA | 91,077 | 94,170 | |||||||
Savings | 76,950 | 75,159 | |||||||
Time deposits less than $100,000 | 242,139 | 235,482 | |||||||
Time deposits $100,000 and over | 322,473 | 315,287 | |||||||
Total interest bearing deposits | $ | 831,233 | $ | 822,209 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive (Loss) Income (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Accumulated Other Comprehensive (Loss) Income | ' | ||||||||||||
The following tables present activity net of tax in accumulated other comprehensive income (AOCI) for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||
Three months ended March 31, 2014 | |||||||||||||
Unrealized Gain | Defined Benefit | Total Other | |||||||||||
(Loss) on Securities | Pension Plan | Comprehensive | |||||||||||
(Loss) Income | |||||||||||||
Beginning balance | $ | (3,954 | ) | $ | (155 | ) | $ | (4,109 | ) | ||||
Other comprehensive loss before reclassifications | 2,472 | — | 2,472 | ||||||||||
Amounts reclassified from AOCI | (234 | ) | — | (234 | ) | ||||||||
Net current period other comprehensive loss | 2,238 | — | 2,238 | ||||||||||
Ending balance | $ | (1,716 | ) | $ | (155 | ) | $ | (1,871 | ) | ||||
Three months ended March 31, 2013 | |||||||||||||
Unrealized Gain | Defined Benefit | Total Other | |||||||||||
(Loss) on Securities | Pension Plan | Comprehensive | |||||||||||
(Loss) Income | |||||||||||||
Beginning balance | $ | 3,866 | $ | (1,038 | ) | $ | 2,828 | ||||||
Other comprehensive income before reclassifications | 32 | — | 32 | ||||||||||
Amounts reclassified from AOCI | (183 | ) | — | (183 | ) | ||||||||
Net current period other comprehensive loss | (151 | ) | — | (151 | ) | ||||||||
Ending balance | $ | 3,715 | $ | (1,038 | ) | $ | 2,677 | ||||||
Effects of Reclassifications Out of AOCI | ' | ||||||||||||
The following tables present the effects of reclassifications out of accumulated other comprehensive income on line items of consolidated income for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||||||
Details about Accumulated Other | Amount Reclassified from Accumulated Other | Affected Line Item in the Unaudited | |||||||||||
Comprehensive Income Components | Comprehensive Income | Consolidated Statement of Income | |||||||||||
Three months ended | |||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||
Unrealized (gains) losses on securities available for sale | $ | (355 | ) | $ | (278 | ) | Gain on securities transactions, net | ||||||
121 | 95 | Income tax expense | |||||||||||
$ | (234 | ) | $ | (183 | ) | Net of tax |
Fair_Values_of_Assets_and_Liab1
Fair Values of Assets and Liabilities (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [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). | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 106,628 | $ | 95,995 | $ | 10,633 | $ | — | |||||||||||||
U.S. Gov’t sponsored agencies | — | — | — | — | |||||||||||||||||
State, county and municipal | 131,864 | 281 | 131,583 | — | |||||||||||||||||
Corporate and other bonds | 5,490 | — | 5,490 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 2,477 | — | 2,477 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 24,886 | 3,364 | 21,522 | — | |||||||||||||||||
Total investment securities available for sale | 271,345 | 99,640 | 171,705 | — | |||||||||||||||||
Total assets at fair value | $ | 271,345 | $ | 99,640 | $ | 171,705 | $ | — | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||
U.S. Treasury issue and other U.S. Gov’t agencies | $ | 98,987 | $ | 94,935 | $ | 4,052 | $ | — | |||||||||||||
U.S. Gov’t sponsored agencies | 486 | — | 486 | — | |||||||||||||||||
State, county and municipal | 134,096 | 2,482 | 131,614 | — | |||||||||||||||||
Corporate and other bonds | 6,349 | — | 6,349 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t agencies | 3,439 | — | 3,439 | — | |||||||||||||||||
Mortgage backed – U.S. Gov’t sponsored agencies | 22,420 | 2,531 | 19,889 | — | |||||||||||||||||
Total investment securities available for sale | 265,777 | 99,948 | 165,829 | — | |||||||||||||||||
Loans held for sale | 100 | — | 100 | — | |||||||||||||||||
Total assets at fair value | $ | 265,877 | $ | 99,948 | $ | 165,929 | $ | — | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table presents assets measured at fair value on a nonrecurring basis as of March 31, 2014 and December 31, 2013 (dollars in thousands): | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans, non-covered | $ | 10,500 | $ | — | $ | 2,303 | $ | 8,197 | |||||||||||||
Other real estate owned (OREO), non-covered | 5,439 | — | — | 5,439 | |||||||||||||||||
Other real estate owned (OREO), covered | 3,211 | — | — | 3,211 | |||||||||||||||||
Total assets at fair value | $ | 19,150 | $ | — | $ | 2,303 | $ | 16,847 | |||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Impaired loans, non-covered | $ | 10,334 | $ | — | $ | 1,791 | $ | 8,543 | |||||||||||||
Other real estate owned (OREO), non-covered | 6,244 | — | — | 6,244 | |||||||||||||||||
Other real estate owned (OREO), covered | 2,692 | — | — | 2,692 | |||||||||||||||||
Total assets at fair value | 19,270 | $ | — | $ | 1,791 | $ | 17,479 | ||||||||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Summary of Fair Value of Financial Instruments | ' | ||||||||||||||||||||
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. This table excludes financial instruments for which the carrying value approximates fair value (dollars in thousands): | |||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||
Carrying Value | Estimated Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 26,625 | $ | 28,316 | $ | — | $ | 28,316 | $ | — | |||||||||||
Loans, non-covered | 583,200 | 589,365 | — | 581,168 | 8,197 | ||||||||||||||||
Loans, covered | 71,376 | 83,994 | — | — | 83,994 | ||||||||||||||||
FDIC indemnification asset | 23,846 | 5,614 | — | — | 5,614 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Interest bearing deposits | 831,233 | 840,079 | — | 840,079 | — | ||||||||||||||||
Long-term borrowings | 81,070 | 80,897 | — | 80,897 | — | ||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Carrying Value | Estimated Fair | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Securities held to maturity | $ | 28,563 | $ | 30,305 | $ | — | $ | 30,305 | $ | — | |||||||||||
Loans, non-covered | 585,729 | 591,081 | — | 582,538 | 8,543 | ||||||||||||||||
Loans, covered | 72,791 | 88,693 | — | — | 88,693 | ||||||||||||||||
FDIC indemnification asset | 25,409 | 10,557 | — | — | 10,557 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Interest bearing deposits | 822,209 | 824,895 | — | 824,895 | — | ||||||||||||||||
Long-term borrowings | 81,249 | 81,014 | — | 81,014 | — |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Earnings Per Share | ' | ||||||||||||
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 (dollars and shares in thousands, except per share data): | |||||||||||||
Net | Weighted | Per Common Share | |||||||||||
Income Available | Average Common | Amount | |||||||||||
to Common | Shares | ||||||||||||
Shareholders | (Denominator) | ||||||||||||
(Numerator) | |||||||||||||
For the three months ended March 31, 2014 | |||||||||||||
Shares issued | 21,718 | ||||||||||||
Unissued vested restricted stock | 11 | ||||||||||||
Basic EPS | $ | 1,659 | 21,729 | $ | 0.08 | ||||||||
Effect of dilutive stock awards | — | 326 | — | ||||||||||
Diluted EPS | $ | 1,659 | 22,055 | $ | 0.08 | ||||||||
For the three months ended March 31, 2013 | |||||||||||||
Shares issued | 21,675 | ||||||||||||
Unissued vested restricted stock | 7 | ||||||||||||
Basic EPS | $ | 1,045 | 21,682 | $ | 0.05 | ||||||||
Effect of dilutive stock awards | — | 157 | — | ||||||||||
Diluted EPS | $ | 1,045 | 21,839 | $ | 0.05 | ||||||||
Defined_Benefit_Plan_Tables
Defined Benefit Plan (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Components of Net Periodic Benefit Cost for Plan | ' | ||||||||
The following table presents the components of net periodic benefit for the three months ended March 31, 2014 and 2013 (dollars in thousands): | |||||||||
Three months ended March 31 | |||||||||
(dollars in thousands) | 2014 | 2013 | |||||||
Interest cost | $ | 56 | $ | 56 | |||||
Expected return on plan assets | (99 | ) | (101 | ) | |||||
Amortization of prior service cost | 1 | — | |||||||
Recognized net actuarial loss | 3 | 17 | |||||||
Net periodic benefit | $ | (39 | ) | $ | (28 | ) |
Nature_of_Banking_Activities_a2
Nature of Banking Activities and Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2014 | |
Branch_office | |
Organization And Significant Accounting Policies [Line Items] | ' |
Number of full-service offices | 21 |
Community Bankers Trust Corporation incorporation year | '2005 |
Number of loan production offices | 2 |
Virginia [Member] | ' |
Organization And Significant Accounting Policies [Line Items] | ' |
Number of full-service offices | 14 |
Maryland [Member] | ' |
Organization And Significant Accounting Policies [Line Items] | ' |
Number of full-service offices | 7 |
Securities_Amortized_Costs_and
Securities - Amortized Costs and Fair Values of Securities Available for Sale and Held to Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | $273,941 | $271,768 |
Securities Available for Sale, Gross Unrealized Gains | 2,145 | 1,587 |
Securities Available for Sale, Gross Unrealized Losses | -4,741 | -7,578 |
Securities Available for Sale, Fair Value | 271,345 | 265,777 |
Securities Held to Maturity, Amortized Cost | 26,625 | 28,563 |
Securities Held to Maturity, Gross Unrealized Gains | 1,691 | 1,742 |
Securities Held to Maturity, Gross Unrealized Losses | ' | ' |
Securities Held to Maturity, Fair Value | 28,316 | 30,305 |
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 | 107,485 | 99,789 |
Securities Available for Sale, Gross Unrealized Gains | 108 | 165 |
Securities Available for Sale, Gross Unrealized Losses | -965 | -967 |
Securities Available for Sale, Fair Value | 106,628 | 98,987 |
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 | ' | 487 |
Securities Available for Sale, Gross Unrealized Gains | ' | ' |
Securities Available for Sale, Gross Unrealized Losses | ' | -1 |
Securities Available for Sale, Fair Value | ' | 486 |
State, County and Municipal [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 133,226 | 138,884 |
Securities Available for Sale, Gross Unrealized Gains | 1,970 | 1,297 |
Securities Available for Sale, Gross Unrealized Losses | -3,332 | -6,085 |
Securities Available for Sale, Fair Value | 131,864 | 134,096 |
Securities Held to Maturity, Amortized Cost | 9,069 | 9,385 |
Securities Held to Maturity, Gross Unrealized Gains | 700 | 718 |
Securities Held to Maturity, Gross Unrealized Losses | ' | ' |
Securities Held to Maturity, Fair Value | 9,769 | 10,103 |
Corporate and Other Bonds [Member] | ' | ' |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 5,502 | 6,369 |
Securities Available for Sale, Gross Unrealized Gains | 28 | 27 |
Securities Available for Sale, Gross Unrealized Losses | -40 | -47 |
Securities Available for Sale, Fair Value | 5,490 | 6,349 |
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 | 2,602 | 3,608 |
Securities Available for Sale, Gross Unrealized Gains | 20 | 29 |
Securities Available for Sale, Gross Unrealized Losses | -145 | -198 |
Securities Available for Sale, Fair Value | 2,477 | 3,439 |
Securities Held to Maturity, Amortized Cost | 6,202 | 6,604 |
Securities Held to Maturity, Gross Unrealized Gains | 372 | 398 |
Securities Held to Maturity, Gross Unrealized Losses | ' | ' |
Securities Held to Maturity, Fair Value | 6,574 | 7,002 |
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 | 25,126 | 22,631 |
Securities Available for Sale, Gross Unrealized Gains | 19 | 69 |
Securities Available for Sale, Gross Unrealized Losses | -259 | -280 |
Securities Available for Sale, Fair Value | 24,886 | 22,420 |
Securities Held to Maturity, Amortized Cost | 11,354 | 12,574 |
Securities Held to Maturity, Gross Unrealized Gains | 619 | 626 |
Securities Held to Maturity, Gross Unrealized Losses | ' | ' |
Securities Held to Maturity, Fair Value | $11,973 | $13,200 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Due in one year or less, Held to Maturity, Amortized Cost | $1,913 | ' |
Due after one year through five years, Held to Maturity, Amortized Cost | 23,682 | ' |
Due after five years through ten years, Held to Maturity, Amortized Cost | 1,030 | ' |
Due after ten years, Held to Maturity, Amortized Cost | ' | ' |
Total securities, Held to Maturity, Amortized Cost | 26,625 | 28,563 |
Due in one year or less, Held to Maturity, Fair Value | 1,942 | ' |
Due after one year through five years, Held to Maturity, Fair Value | 25,219 | ' |
Due after five years through ten years, Held to Maturity, Fair Value | 1,155 | ' |
Due after ten years, Held to Maturity, Fair Value | ' | ' |
Securities Held to Maturity, Fair Value | 28,316 | 30,305 |
Due in one year or less, Available for Sale, Amortized Cost | 19,962 | ' |
Due after one year through five years, Available for Sale, Amortized Cost | 45,381 | ' |
Due after five years through ten years, Available for Sale, Amortized Cost | 154,269 | ' |
Due after ten years, Available for Sale, Amortized Cost | 54,329 | ' |
Total securities, Available for Sale, Amortized Cost | 273,941 | 271,768 |
Due in one year or less, Available for Sale, Fair Value | 19,894 | ' |
Due after one year through five years, Available for Sale, Fair Value | 45,428 | ' |
Due after five years through ten years, Available for Sale, Fair Value | 153,029 | ' |
Due after ten years, Available for Sale, Fair Value | 52,994 | ' |
Securities Available for Sale, Fair Value | $271,345 | $265,777 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Security | |||
Schedule Of Marketable Securities [Line Items] | ' | ' | ' |
Proceeds from sales of securities available for sale | $21,700,000 | $24,800,000 | ' |
Investments held having OTTI losses | 0 | 0 | ' |
Number of securities with unrealized losses | 219 | ' | ' |
Securities with investment grade | 215 | ' | ' |
Investment grade corporate obligations comprise securities with unrealized losses | 4 | ' | ' |
Securities with amortized costs | 72,800,000 | ' | 109,100,000 |
Securities purchased from single issuer | $0 | ' | $0 |
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ' | ' | ' |
Schedule Of Marketable Securities [Line Items] | ' | ' | ' |
Minimum percentage of securities purchased from U.S. Treasury issue and other U.S. Government agencies | 10.00% | ' | ' |
Securities_Summary_of_Realized
Securities - Summary of Realized Gains and Losses on Sales of Securities (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Gross realized gains | $406 | $321 |
Gross realized losses | -51 | -43 |
Net securities gains | $355 | $278 |
Securities_Summary_of_Fair_Val
Securities - Summary of Fair Value and Gross Unrealized Losses for Securities Available for Sale (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | $153,876 | $149,040 |
Unrealized Loss, Less than 12 Months | -3,652 | -6,373 |
Fair Value, 12 Months or More | 42,930 | 46,631 |
Unrealized Loss, 12 Months or More | -1,089 | -1,205 |
Fair Value, Total | 196,806 | 195,671 |
Unrealized Loss, Total | -4,741 | -7,578 |
U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 62,299 | 35,873 |
Unrealized Loss, Less than 12 Months | -635 | -531 |
Fair Value, 12 Months or More | 31,123 | 37,638 |
Unrealized Loss, 12 Months or More | -330 | -436 |
Fair Value, Total | 93,422 | 73,511 |
Unrealized Loss, Total | -965 | -967 |
U.S. Gov't Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | ' | 486 |
Unrealized Loss, Less than 12 Months | ' | -1 |
Fair Value, Total | ' | 486 |
Unrealized Loss, Total | ' | -1 |
State, County and Municipal [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 69,003 | 92,010 |
Unrealized Loss, Less than 12 Months | -2,603 | -5,343 |
Fair Value, 12 Months or More | 9,619 | 6,445 |
Unrealized Loss, 12 Months or More | -729 | -742 |
Fair Value, Total | 78,622 | 98,455 |
Unrealized Loss, Total | -3,332 | -6,085 |
Corporate and Other Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 3,282 | 3,332 |
Unrealized Loss, Less than 12 Months | -40 | -42 |
Fair Value, 12 Months or More | ' | 991 |
Unrealized Loss, 12 Months or More | ' | -5 |
Fair Value, Total | 3,282 | 4,323 |
Unrealized Loss, Total | -40 | -47 |
Mortgage Backed - U.S. Gov't Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 1,852 | 2,767 |
Unrealized Loss, Less than 12 Months | -145 | -198 |
Fair Value, Total | 1,852 | 2,767 |
Unrealized Loss, Total | -145 | -198 |
Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less than 12 Months | 17,440 | 14,572 |
Unrealized Loss, Less than 12 Months | -229 | -258 |
Fair Value, 12 Months or More | 2,188 | 1,557 |
Unrealized Loss, 12 Months or More | -30 | -22 |
Fair Value, Total | 19,628 | 16,129 |
Unrealized Loss, Total | ($259) | ($280) |
Loans_Not_Covered_by_FDIC_Shar2
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Summary of Non-Covered Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | $593,798 | $596,337 |
Less unearned income on loans | -188 | -164 |
% of Non-Covered Loans | 100.00% | 100.00% |
Non-covered loans, net of unearned income | 593,610 | 596,173 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 505,934 | 499,137 |
% of Non-Covered Loans | 85.21% | 83.70% |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 146,069 | 144,382 |
% of Non-Covered Loans | 24.60% | 24.21% |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 254,666 | 247,284 |
% of Non-Covered Loans | 42.89% | 41.47% |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 54,914 | 55,278 |
% of Non-Covered Loans | 9.25% | 9.27% |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 6,623 | 6,854 |
% of Non-Covered Loans | 1.12% | 1.15% |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 35,528 | 35,774 |
% of Non-Covered Loans | 5.98% | 6.00% |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 8,134 | 9,565 |
% of Non-Covered Loans | 1.37% | 1.60% |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 80,942 | 90,142 |
% of Non-Covered Loans | 13.63% | 15.12% |
Consumer Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 5,492 | 5,623 |
% of Non-Covered Loans | 0.92% | 0.94% |
All Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | $1,430 | $1,435 |
% of Non-Covered Loans | 0.24% | 0.24% |
Loans_Not_Covered_by_FDIC_Shar3
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Contract | Contract | ||
TDRs | TDRs | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Purchased government-guaranteed loans | $593,610,000 | ' | $596,173,000 |
Percentage of loans guaranteed by the USDA | 100.00% | ' | 100.00% |
Cash Basis income recognized for impairment losses | 139,000 | 0 | ' |
Estimated interest income | 261,000 | 350,000 | ' |
Purchased government-guaranteed loans | 31,200,000 | ' | 38,500,000 |
Number of contracts | 0 | 0 | ' |
Number of loan that restructured and default | 0 | 0 | ' |
1-4 family mortgages pledged as collateral to the federal bank home loan | 137,200,000 | ' | ' |
Total borrowing capacity | 99,100,000 | ' | ' |
Nonaccruing Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Interest income recognized on impaired loans | 0 | 0 | ' |
Accruing 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 | 31,200,000 | ' | 38,500,000 |
Percentage of loans guaranteed by the USDA | 100.00% | ' | 100.00% |
Unamortized purchase premium | $1,900,000 | ' | $2,500,000 |
Loans_Not_Covered_by_FDIC_Shar4
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Summary of Information Related to Impaired Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | $9,726 | $8,954 |
With a related allowance, Unpaid Principal Balance | 11,971 | 11,199 |
Related Allowance | 2,079 | 1,604 |
With no related allowance recorded, Recorded investment | 4,703 | 4,847 |
With no related allowance recorded, Unpaid Principal Balance | 7,711 | 7,760 |
Total, Recorded investment | 14,429 | 13,801 |
Total, Unpaid Principal Balance | 19,682 | 18,959 |
Related Allowance | 2,079 | 1,604 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 9,579 | 8,778 |
With a related allowance, Unpaid Principal Balance | 11,179 | 10,354 |
Related Allowance | 2,048 | 1,579 |
With no related allowance recorded, Recorded investment | 4,698 | 4,841 |
With no related allowance recorded, Unpaid Principal Balance | 7,705 | 7,754 |
Total, Recorded investment | 14,277 | 13,619 |
Total, Unpaid Principal Balance | 18,884 | 18,108 |
Related Allowance | 2,048 | 1,579 |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 3,507 | 3,485 |
With a related allowance, Unpaid Principal Balance | 3,883 | 3,739 |
Related Allowance | 1,023 | 881 |
With no related allowance recorded, Recorded investment | 1,179 | 1,189 |
With no related allowance recorded, Unpaid Principal Balance | 1,224 | 1,228 |
Total, Recorded investment | 4,686 | 4,674 |
Total, Unpaid Principal Balance | 5,107 | 4,967 |
Related Allowance | 1,023 | 881 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 1,678 | 920 |
With a related allowance, Unpaid Principal Balance | 1,750 | 1,091 |
Related Allowance | 463 | 150 |
With no related allowance recorded, Recorded investment | 1,781 | 1,714 |
With no related allowance recorded, Unpaid Principal Balance | 2,125 | 1,969 |
Total, Recorded investment | 3,459 | 2,634 |
Total, Unpaid Principal Balance | 3,875 | 3,060 |
Related Allowance | 463 | 150 |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 4,169 | 4,148 |
With a related allowance, Unpaid Principal Balance | 5,320 | 5,298 |
Related Allowance | 514 | 508 |
With no related allowance recorded, Recorded investment | 1,738 | 1,734 |
With no related allowance recorded, Unpaid Principal Balance | 4,356 | 4,335 |
Total, Recorded investment | 5,907 | 5,882 |
Total, Unpaid Principal Balance | 9,676 | 9,633 |
Related Allowance | 514 | 508 |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 225 | 225 |
With a related allowance, Unpaid Principal Balance | 226 | 226 |
Related Allowance | 48 | 40 |
With no related allowance recorded, Recorded investment | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | ' |
Total, Recorded investment | 225 | 225 |
Total, Unpaid Principal Balance | 226 | 226 |
Related Allowance | 48 | 40 |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | ' | ' |
With a related allowance, Unpaid Principal Balance | ' | ' |
Related Allowance | ' | ' |
With no related allowance recorded, Recorded investment | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | ' |
Total, Recorded investment | ' | ' |
Total, Unpaid Principal Balance | ' | ' |
Related Allowance | ' | ' |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | ' | ' |
With a related allowance, Unpaid Principal Balance | ' | ' |
Related Allowance | ' | ' |
With no related allowance recorded, Recorded investment | ' | 204 |
With no related allowance recorded, Unpaid Principal Balance | ' | 222 |
Total, Recorded investment | ' | 204 |
Total, Unpaid Principal Balance | ' | 222 |
Related Allowance | ' | ' |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 57 | 127 |
With a related allowance, Unpaid Principal Balance | 701 | 794 |
Related Allowance | 12 | 16 |
With no related allowance recorded, Recorded investment | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | ' |
Total, Recorded investment | 57 | 127 |
Total, Unpaid Principal Balance | 701 | 794 |
Related Allowance | 12 | 16 |
Consumer Installment Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | 90 | 49 |
With a related allowance, Unpaid Principal Balance | 91 | 51 |
Related Allowance | 19 | 9 |
With no related allowance recorded, Recorded investment | 5 | 6 |
With no related allowance recorded, Unpaid Principal Balance | 6 | 6 |
Total, Recorded investment | 95 | 55 |
Total, Unpaid Principal Balance | 97 | 57 |
Related Allowance | 19 | 9 |
All Other Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With a related allowance, Recorded investment | ' | ' |
With a related allowance, Unpaid Principal Balance | ' | ' |
Related Allowance | ' | ' |
With no related allowance recorded, Recorded investment | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | ' | ' |
Total, Recorded investment | ' | ' |
Total, Unpaid Principal Balance | ' | ' |
Related Allowance | ' | ' |
Loans_Not_Covered_by_FDIC_Shar5
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Summary of Financial Receivable Impaired Average Recorded Investment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | $14,116 | $21,576 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 13,948 | 21,088 |
Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 92 | 397 |
Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 76 | 91 |
All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | ' | ' |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 4,680 | 6,775 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 3,046 | 4,835 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 5,895 | 9,064 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | 225 | 172 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | ' | ' |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Average Recorded Investment | $102 | $242 |
Loans_Not_Covered_by_FDIC_Shar6
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Summarizes Non-Accrual Loans by Category (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | $12,645 | $12,105 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 12,493 | 11,923 |
Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 57 | 127 |
Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 95 | 55 |
All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 4,153 | 4,229 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 2,208 | 1,382 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 5,907 | 5,882 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 225 | 225 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | $205 |
Loans_Not_Covered_by_FDIC_Shar7
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Reconciliation of Impaired Loans to Nonaccrual Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Nonaccruals | $12,645 | $12,105 |
Total impaired | 14,429 | 13,801 |
Troubled Debt Restructure [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Still accruing | 1,691 | 1,696 |
Substandard [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Still accruing | $93 | ' |
Loans_Not_Covered_by_FDIC_Shar8
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Age Analysis of Past Due Status of Non-Covered Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | $1,957 | $1,870 |
90 Days Past Due | 12,645 | 12,105 |
Total Past Due | 14,602 | 13,975 |
Current | 579,196 | 582,362 |
Total Loans | 593,798 | 596,337 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | 1,699 | 1,697 |
90 Days Past Due | 12,493 | 11,923 |
Total Past Due | 14,192 | 13,620 |
Current | 491,742 | 485,517 |
Total Loans | 505,934 | 499,137 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | 245 | 115 |
90 Days Past Due | 57 | 127 |
Total Past Due | 302 | 242 |
Current | 80,640 | 89,900 |
Total Loans | 80,942 | 90,142 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Consumer Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | 13 | 58 |
90 Days Past Due | 95 | 55 |
Total Past Due | 108 | 113 |
Current | 5,384 | 5,510 |
Total Loans | 5,492 | 5,623 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
All Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 1,430 | 1,435 |
Total Loans | 1,430 | 1,435 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | 1,352 | 1,455 |
90 Days Past Due | 4,153 | 4,229 |
Total Past Due | 5,505 | 5,684 |
Current | 140,564 | 138,698 |
Total Loans | 146,069 | 144,382 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | 347 | ' |
90 Days Past Due | 2,208 | 1,382 |
Total Past Due | 2,555 | 1,382 |
Current | 252,111 | 245,902 |
Total Loans | 254,666 | 247,284 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-89 Days Past Due | ' | 242 |
90 Days Past Due | 5,907 | 5,882 |
Total Past Due | 5,907 | 6,124 |
Current | 49,007 | 49,154 |
Total Loans | 54,914 | 55,278 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
90 Days Past Due | 225 | 225 |
Total Past Due | 225 | 225 |
Current | 6,398 | 6,629 |
Total Loans | 6,623 | 6,854 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 35,528 | 35,774 |
Total Loans | 35,528 | 35,774 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
90 Days Past Due | ' | 205 |
Total Past Due | ' | 205 |
Current | 8,134 | 9,360 |
Total Loans | 8,134 | 9,565 |
Recorded Investment 90 Days Past Due and Accruing | ' | ' |
Loans_Not_Covered_by_FDIC_Shar9
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Allowance for Loan Losses on Non-Covered Loans by Segment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | $10,444 | ' |
Provision Allocation | ' | ' |
Allowance for loan losses, ending balance | 10,410 | ' |
Non Covered Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 10,444 | 12,920 |
Charge-offs | -152 | -908 |
Recoveries | 118 | 246 |
Allowance for loan losses, ending balance | 10,410 | 12,258 |
Non Covered Loans [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 8,771 | 10,746 |
Provision Allocation | 205 | -75 |
Charge-offs | -110 | -613 |
Recoveries | 78 | 204 |
Allowance for loan losses, ending balance | 8,944 | 10,262 |
Non Covered Loans [Member] | Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 1,546 | 1,961 |
Provision Allocation | -218 | 86 |
Charge-offs | ' | -252 |
Recoveries | 4 | 21 |
Allowance for loan losses, ending balance | 1,332 | 1,816 |
Non Covered Loans [Member] | Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 101 | 195 |
Provision Allocation | 15 | -21 |
Charge-offs | -42 | -43 |
Recoveries | 36 | 21 |
Allowance for loan losses, ending balance | 110 | 152 |
Non Covered Loans [Member] | All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 26 | 18 |
Provision Allocation | -2 | 10 |
Allowance for loan losses, ending balance | 24 | 28 |
Non Covered Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 3,853 | 3,985 |
Provision Allocation | -43 | 11 |
Charge-offs | -110 | -34 |
Recoveries | 7 | 46 |
Allowance for loan losses, ending balance | 3,707 | 4,008 |
Non Covered Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 2,333 | 2,482 |
Provision Allocation | 562 | 506 |
Charge-offs | ' | -579 |
Recoveries | 69 | 5 |
Allowance for loan losses, ending balance | 2,964 | 2,414 |
Non Covered Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 2,252 | 3,773 |
Provision Allocation | -359 | -565 |
Recoveries | 1 | 149 |
Allowance for loan losses, ending balance | 1,894 | 3,357 |
Non Covered Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 101 | 142 |
Provision Allocation | 12 | -41 |
Recoveries | 1 | 4 |
Allowance for loan losses, ending balance | 114 | 105 |
Non Covered Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 151 | 303 |
Provision Allocation | 57 | 13 |
Allowance for loan losses, ending balance | 208 | 316 |
Non Covered Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Allowance for loan losses, beginning balance | 81 | 61 |
Provision Allocation | -24 | 1 |
Allowance for loan losses, ending balance | $57 | $62 |
Recovered_Sheet1
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Non-Covered Loans Evaluated for Impairment (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Total | $10,410 | $10,444 |
Total Loans | 593,798 | 596,337 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 505,934 | 499,137 |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 80,942 | 90,142 |
Consumer Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 5,492 | 5,623 |
All Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 1,430 | 1,435 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 146,069 | 144,382 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 254,666 | 247,284 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 54,914 | 55,278 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 6,623 | 6,854 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 35,528 | 35,774 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 8,134 | 9,565 |
Allowance for Loan Losses [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 2,205 | 1,843 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,205 | 8,601 |
Allowance for Loan Losses, Total | 10,410 | 10,444 |
Allowance for Loan Losses [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 2,171 | 1,816 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 6,773 | 6,955 |
Allowance for Loan Losses, Total | 8,944 | 8,771 |
Allowance for Loan Losses [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 15 | 18 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,317 | 1,528 |
Allowance for Loan Losses, Total | 1,332 | 1,546 |
Allowance for Loan Losses [Member] | Consumer Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 19 | 9 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 91 | 92 |
Allowance for Loan Losses, Total | 110 | 101 |
Allowance for Loan Losses [Member] | All Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 24 | 26 |
Allowance for Loan Losses, Total | 24 | 26 |
Allowance for Loan Losses [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,069 | 923 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,638 | 2,930 |
Allowance for Loan Losses, Total | 3,707 | 3,853 |
Allowance for Loan Losses [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 495 | 200 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,469 | 2,133 |
Allowance for Loan Losses, Total | 2,964 | 2,333 |
Allowance for Loan Losses [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 557 | 651 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,337 | 1,601 |
Allowance for Loan Losses, Total | 1,894 | 2,252 |
Allowance for Loan Losses [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 50 | 42 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 64 | 59 |
Allowance for Loan Losses, Total | 114 | 101 |
Allowance for Loan Losses [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 208 | 151 |
Allowance for Loan Losses, Total | 208 | 151 |
Allowance for Loan Losses [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 57 | 81 |
Allowance for Loan Losses, Total | 57 | 81 |
Recorded Investment in Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 23,238 | 24,051 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 570,560 | 572,286 |
Total Loans | 593,798 | 596,337 |
Recorded Investment in Loans [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 23,017 | 23,802 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 482,917 | 475,335 |
Total Loans | 505,934 | 499,137 |
Recorded Investment in Loans [Member] | Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 119 | 192 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 80,823 | 89,950 |
Total Loans | 80,942 | 90,142 |
Recorded Investment in Loans [Member] | Consumer Installment Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 102 | 57 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 5,390 | 5,566 |
Total Loans | 5,492 | 5,623 |
Recorded Investment in Loans [Member] | All Other Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 1,430 | 1,435 |
Total Loans | 1,430 | 1,435 |
Recorded Investment in Loans [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 7,099 | 6,708 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 138,970 | 137,674 |
Total Loans | 146,069 | 144,382 |
Recorded Investment in Loans [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 8,609 | 8,016 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 246,057 | 239,268 |
Total Loans | 254,666 | 247,284 |
Recorded Investment in Loans [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 7,055 | 8,619 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 47,859 | 46,659 |
Total Loans | 54,914 | 55,278 |
Recorded Investment in Loans [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | 254 | 254 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 6,369 | 6,600 |
Total Loans | 6,623 | 6,854 |
Recorded Investment in Loans [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 35,528 | 35,774 |
Total Loans | 35,528 | 35,774 |
Recorded Investment in Loans [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Recorded Investment in Loans, Individually Evaluated for Impairment | ' | 205 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 8,134 | 9,360 |
Total Loans | $8,134 | $9,565 |
Recovered_Sheet2
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Non-Covered Loans Evaluated for Impairment (Parenthetical) (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Receivables [Abstract] | ' | ' |
Individually evaluated for impairment | $8,800,000 | $10,300,000 |
Allowance for loans losses | $126,000 | $239,000 |
Recovered_Sheet3
Loans Not Covered by FDIC Shared-Loss Agreement (Non-Covered Loans) and Related Allowance for Loan Losses - Non-Covered Loans by Credit Quality Indicator (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | $593,798 | $596,337 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 505,934 | 499,137 |
Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 80,942 | 90,142 |
Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 5,492 | 5,623 |
All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 1,430 | 1,435 |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 146,069 | 144,382 |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 254,666 | 247,284 |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 54,914 | 55,278 |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 6,623 | 6,854 |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 35,528 | 35,774 |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 8,134 | 9,565 |
Pass [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 535,060 | 548,426 |
Pass [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 459,049 | 454,439 |
Pass [Member] | Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 69,227 | 87,208 |
Pass [Member] | Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 5,354 | 5,344 |
Pass [Member] | All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 1,430 | 1,435 |
Pass [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 129,052 | 129,482 |
Pass [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 234,268 | 229,168 |
Pass [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 46,578 | 44,482 |
Pass [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 5,489 | 6,172 |
Pass [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 35,528 | 35,774 |
Pass [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 8,134 | 9,361 |
Special Mention [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 36,775 | 25,111 |
Special Mention [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 25,142 | 22,147 |
Special Mention [Member] | Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 11,596 | 2,742 |
Special Mention [Member] | Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 37 | 222 |
Special Mention [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 9,918 | 8,193 |
Special Mention [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 13,041 | 11,348 |
Special Mention [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 1,303 | 2,178 |
Special Mention [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 880 | 428 |
Substandard [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 21,963 | 22,800 |
Substandard [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 21,743 | 22,551 |
Substandard [Member] | Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 119 | 192 |
Substandard [Member] | Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 101 | 57 |
Substandard [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 7,099 | 6,707 |
Substandard [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 7,357 | 6,768 |
Substandard [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 7,033 | 8,618 |
Substandard [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 254 | 254 |
Substandard [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | 204 |
Doubtful [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Commercial Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Consumer Installment Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | All Other Loans [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Doubtful [Member] | Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | ' | ' |
Recovered_Sheet4
Loans Covered by FDIC Shared-loss Agreements (Covered Loans) and Related Allowance for Loan Losses - Additional Information (Detail) (Covered Loans [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans acquired | $198.30 | ' |
Loans met criteria of ASC 310-30 | 49.1 | ' |
Outstanding contractual balance of covered loans | 113.8 | 117 |
Residential 1-4 Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Remaining of loans acquired | $149.10 | ' |
Loans_Covered_by_FDIC_SharedLo2
Loans Covered by FDIC Shared-Loss Agreements (Covered Loans) and Related Allowance for Loan Losses - Summary of Covered Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | $71,860 | $73,275 |
% of Covered Loans | 100.00% | 100.00% |
Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 71,860 | 73,275 |
% of Covered Loans | 100.00% | 100.00% |
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 63,531 | 64,610 |
% of Covered Loans | 88.41% | 88.18% |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 1,298 | 1,389 |
% of Covered Loans | 1.81% | 1.90% |
Construction and Land Development [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 2,935 | 2,940 |
% of Covered Loans | 4.08% | 4.01% |
Second Mortgages [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 3,827 | 3,898 |
% of Covered Loans | 5.33% | 5.32% |
Multifamily [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | 269 | 266 |
% of Covered Loans | 0.37% | 0.36% |
Agriculture [Member] | Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans covered by FDIC shared loss agreements | ' | $172 |
% of Covered Loans | ' | 0.23% |
Loans_Covered_by_FDIC_SharedLo3
Loans Covered by FDIC Shared-Loss Agreement (Covered Loans) and Related Allowance for Loan Losses - Summary of Covered Loans Collectively Evaluated for Impairment in the Allowance for Loan Losses (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | $484 | $484 |
Loans, covered | 71,860 | 73,275 |
Mortgage Loans on Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | 484 | 484 |
Loans, covered | 71,860 | 73,275 |
Mortgage Loans on Real Estate [Member] | Residential 1-4 Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | 252 | 252 |
Loans, covered | 63,531 | 64,610 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | 232 | 232 |
Loans, covered | 1,298 | 1,389 |
Mortgage Loans on Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | ' | ' |
Loans, covered | 2,935 | 2,940 |
Mortgage Loans on Real Estate [Member] | Second Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | ' | ' |
Loans, covered | 3,827 | 3,898 |
Mortgage Loans on Real Estate [Member] | Multifamily [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | ' | ' |
Loans, covered | 269 | 266 |
Mortgage Loans on Real Estate [Member] | Agriculture [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Allowance for loan losses | ' | ' |
Loans, covered | ' | $172 |
Loans_Covered_by_FDIC_Shared_L
Loans Covered by FDIC Shared Loss Agreements (Covered Loans) - Summary of Changes in Accretable Yield (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Receivables [Abstract] | ' | ' |
Beginning Balance | $51,515 | $54,144 |
Accretion | -2,961 | -11,936 |
Reclassification from nonaccretable Yield | -862 | 9,307 |
Ending Balance | $47,692 | $51,515 |
FDIC_Agreements_and_FDIC_Indem2
FDIC Agreements and FDIC Indemnification Asset - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Fdic Agreements And Fdic Indemnification Asset [Abstract] | ' |
Purchase and assumption agreement date with the FDIC | 30-Jan-09 |
Percentage of losses reimbursed by FDIC to bank arising from covered loans and foreclosed real estate assets | 80.00% |
Losses on covered loans and foreclosed real estate assets | $118,000,000 |
Percentage of losses reimbursed by FDIC to bank on covered loans and foreclosed real estate assets thereafter | 95.00% |
FDIC indemnification asset for non single family assets | $0 |
FDIC_Agreements_and_FDIC_Indem3
FDIC Agreements and FDIC Indemnification Asset - Summary Balances of FDIC Indemnification Asset (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Fdic Agreements And Fdic Indemnification Asset [Line Items] | ' | ' | ' |
Beginning Balance | $25,409 | $33,837 | $33,837 |
Increases: | ' | ' | ' |
Writedown of OREO property to FMV | 17 | ' | 275 |
Decreases: | ' | ' | ' |
Net amortization of premium | -1,498 | -1,501 | -6,449 |
Reclassifications to FDIC receivable: | ' | ' | ' |
Net loan charge-offs and recoveries | -7 | ' | -1,014 |
OREO sales | -1 | ' | -944 |
Reimbursements requested from FDIC | -74 | ' | -296 |
Reforecasted Change in Anticipated Expected Losses | ' | ' | ' |
Ending Balance | 23,846 | ' | 25,409 |
Anticipated Expected Losses [Member] | ' | ' | ' |
Fdic Agreements And Fdic Indemnification Asset [Line Items] | ' | ' | ' |
Beginning Balance | 13,514 | 23,205 | 23,205 |
Increases: | ' | ' | ' |
Writedown of OREO property to FMV | 21 | ' | 344 |
Reclassifications to FDIC receivable: | ' | ' | ' |
Net loan charge-offs and recoveries | -9 | ' | -1,268 |
OREO sales | -1 | ' | -1,180 |
Reimbursements requested from FDIC | -93 | ' | -370 |
Reforecasted Change in Anticipated Expected Losses | -6,167 | ' | -7,217 |
Ending Balance | 7,264 | ' | 13,514 |
Estimated Loss Sharing Value [Member] | ' | ' | ' |
Fdic Agreements And Fdic Indemnification Asset [Line Items] | ' | ' | ' |
Beginning Balance | 10,811 | 18,564 | 18,564 |
Increases: | ' | ' | ' |
Writedown of OREO property to FMV | 17 | ' | 275 |
Reclassifications to FDIC receivable: | ' | ' | ' |
Net loan charge-offs and recoveries | -7 | ' | -1,014 |
OREO sales | -1 | ' | -944 |
Reimbursements requested from FDIC | -74 | ' | -296 |
Reforecasted Change in Anticipated Expected Losses | -4,935 | ' | -5,774 |
Ending Balance | 5,811 | ' | 10,811 |
Amortizable Premium (Discount) at Present Value [Member] | ' | ' | ' |
Fdic Agreements And Fdic Indemnification Asset [Line Items] | ' | ' | ' |
Beginning Balance | 14,598 | 15,273 | 15,273 |
Decreases: | ' | ' | ' |
Net amortization of premium | -1,498 | ' | -6,449 |
Reclassifications to FDIC receivable: | ' | ' | ' |
Reforecasted Change in Anticipated Expected Losses | 4,935 | ' | 5,774 |
Ending Balance | $18,035 | ' | $14,598 |
Deposits_Summary_of_Interest_B
Deposits - Summary of Interest Bearing Deposits (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Interest Bearing Deposit Liabilities [Abstract] | ' | ' |
NOW | $98,594 | $102,111 |
MMDA | 91,077 | 94,170 |
Savings | 76,950 | 75,159 |
Time deposits less than $100,000 | 242,139 | 235,482 |
Time deposits $100,000 and over | 322,473 | 315,287 |
Total interest-bearing deposits | $831,233 | $822,209 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Summary of Accumulated Other Comprehensive (Loss) Income (Detail) (USD $) | 3 Months Ended | |||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Unrealized Gain (Loss) on Securities [Member] | Unrealized Gain (Loss) on Securities [Member] | Defined Benefit Pension Plan [Member] | Defined Benefit Pension Plan [Member] | Defined Benefit Pension Plan [Member] | Defined Benefit Pension Plan [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ($4,109) | $2,828 | ($3,954) | $3,866 | ($155) | ($155) | ($1,038) | ($1,038) |
Other comprehensive (loss) income before reclassifications | 2,472 | 32 | 2,472 | 32 | ' | ' | ' | ' |
Amounts reclassified from AOCI | -234 | -183 | -234 | -183 | ' | ' | ' | ' |
Net current period other comprehensive loss | 2,238 | -151 | 2,238 | -151 | ' | ' | ' | ' |
Ending balance | ($1,871) | $2,677 | ($1,716) | $3,715 | ($155) | ($155) | ($1,038) | ($1,038) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income - Effects of Reclassifications Out of AOCI (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Gain on securities transactions, net | ($355) | ($278) |
Income tax expense | 709 | 563 |
Total amount recognized | 234 | 183 |
Unrealized Gain (Loss) on Securities [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Total amount recognized | 234 | 183 |
Amount Reclassified from AOCI [Member] | Unrealized Gain (Loss) on Securities [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Gain on securities transactions, net | -355 | -278 |
Income tax expense | 121 | 95 |
Total amount recognized | ($234) | ($183) |
Fair_Values_of_Assets_and_Liab2
Fair Values of Assets and Liabilities - Assets and Liabilities Recorded at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | $271,345 | $265,777 |
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 | 106,628 | 98,987 |
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 | ' | 486 |
State, County and Municipal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | 131,864 | 134,096 |
Corporate and Other Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | 5,490 | 6,349 |
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 | 2,477 | 3,439 |
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 | 24,886 | 22,420 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | 271,345 | 265,777 |
Loans held for sale | ' | 100 |
Total assets at fair value | 271,345 | 265,877 |
Total liabilities at fair value | ' | ' |
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 | 99,640 | 99,948 |
Loans held for sale | ' | ' |
Total assets at fair value | 99,640 | 99,948 |
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 | 171,705 | 165,829 |
Loans held for sale | ' | 100 |
Total assets at fair value | 171,705 | 165,929 |
Total liabilities at fair value | ' | ' |
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
Loans held for sale | ' | ' |
Total assets at fair value | ' | ' |
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 | 106,628 | 98,987 |
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 | 95,995 | 94,935 |
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 | 10,633 | 4,052 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Issue and Other U.S. Gov't Agencies [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | ' | 486 |
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 | ' | ' |
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 | ' | 486 |
Fair Value, Measurements, Recurring [Member] | U.S. Gov't Sponsored Agencies [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | 131,864 | 134,096 |
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 | 281 | 2,482 |
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 | 131,583 | 131,614 |
Fair Value, Measurements, Recurring [Member] | State, County and Municipal [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | 5,490 | 6,349 |
Fair Value, Measurements, Recurring [Member] | Corporate and Other Bonds [Member] | Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | 5,490 | 6,349 |
Fair Value, Measurements, Recurring [Member] | Corporate and Other Bonds [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | 2,477 | 3,439 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - 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 | ' | ' |
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 | 2,477 | 3,439 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Agencies [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
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 | 24,886 | 22,420 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - 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 | 3,364 | 2,531 |
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 | 21,522 | 19,889 |
Fair Value, Measurements, Recurring [Member] | Mortgage Backed - U.S. Gov't Sponsored Agencies [Member] | Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total investment securities available for sale | ' | ' |
Fair_Values_of_Assets_and_Liab3
Fair Values of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate owned (OREO), non-covered | $5,439 | $6,244 |
Other real estate owned (OREO), covered | 3,211 | 2,692 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, non-covered | 10,500 | 10,334 |
Other real estate owned (OREO), non-covered | 5,439 | 6,244 |
Other real estate owned (OREO), covered | 3,211 | 2,692 |
Total assets at fair value | 19,150 | 19,270 |
Total liabilities at fair value | ' | ' |
Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, non-covered | ' | ' |
Other real estate owned (OREO), non-covered | ' | ' |
Other real estate owned (OREO), covered | ' | ' |
Total assets at fair value | ' | ' |
Total liabilities at fair value | ' | ' |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, non-covered | 2,303 | 1,791 |
Other real estate owned (OREO), non-covered | ' | ' |
Other real estate owned (OREO), covered | ' | ' |
Total assets at fair value | 2,303 | 1,791 |
Total liabilities at fair value | ' | ' |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, non-covered | 8,197 | 8,543 |
Other real estate owned (OREO), non-covered | 5,439 | 6,244 |
Other real estate owned (OREO), covered | 3,211 | 2,692 |
Total assets at fair value | 16,847 | 17,479 |
Total liabilities at fair value | ' | ' |
Fair_Values_of_Assets_and_Liab4
Fair Values of Assets and Liabilities - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Fair value appraisal minimum period | '12 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_Liab5
Fair Values of Assets and Liabilities - Summary of Fair Value of Financial Instruments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Financial assets: | ' | ' | ' |
Securities held to maturity | $28,316 | $30,305 | ' |
FDIC indemnification asset | 23,846 | 25,409 | 33,837 |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | 831,233 | 822,209 | ' |
Level 1 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Loans, non-covered | ' | ' | ' |
Loans, covered | ' | ' | ' |
FDIC indemnification asset | ' | ' | ' |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | ' | ' | ' |
Long-term borrowings | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Securities held to maturity | 28,316 | 30,305 | ' |
Loans, non-covered | 581,168 | 582,538 | ' |
Loans, covered | ' | ' | ' |
FDIC indemnification asset | ' | ' | ' |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | 840,079 | 824,895 | ' |
Long-term borrowings | 80,897 | 81,014 | ' |
Level 3 [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Securities held to maturity | ' | ' | ' |
Loans, non-covered | 8,197 | 8,543 | ' |
Loans, covered | 83,994 | 88,693 | ' |
FDIC indemnification asset | 5,614 | 10,557 | ' |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | ' | ' | ' |
Long-term borrowings | ' | ' | ' |
Carrying Value [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Securities held to maturity | 26,625 | 28,563 | ' |
Loans, non-covered | 583,200 | 585,729 | ' |
Loans, covered | 71,376 | 72,791 | ' |
FDIC indemnification asset | 23,846 | 25,409 | ' |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | 831,233 | 822,209 | ' |
Long-term borrowings | 81,070 | 81,249 | ' |
Estimated Fair Value [Member] | ' | ' | ' |
Financial assets: | ' | ' | ' |
Securities held to maturity | 28,316 | 30,305 | ' |
Loans, non-covered | 589,365 | 591,081 | ' |
Loans, covered | 83,994 | 88,693 | ' |
FDIC indemnification asset | 5,614 | 10,557 | ' |
Financial liabilities: | ' | ' | ' |
Interest bearing deposits | 840,079 | 824,895 | ' |
Long-term borrowings | $80,897 | $81,014 | ' |
Earnings_Per_Common_Share_Comp
Earnings Per Common Share - Computation of Earnings Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share [Abstract] | ' | ' |
Basic EPS, Net Income Available to Common Shareholders (Numerator) | $1,659 | $1,045 |
Effect of dilutive stock awards and options, Net Income Available to Common Shareholders (Numerator) | ' | ' |
Diluted EPS, Net Income Available to Common Shareholders (Numerator) | $1,659 | $1,045 |
Shares issued, Weighted Average Common Shares (Denominator) | 21,718 | 21,675 |
Unissued vested restricted stock, Weighted Average Common Shares (Denominator) | 11 | 7 |
Basic EPS , Weighted Average Common Shares (Denominator) | 21,729 | 21,682 |
Effect of dilutive stock awards, Weighted Average Common Shares (Denominator) | 326 | 157 |
Diluted EPS, Weighted Average Common Shares (Denominator) | 22,055 | 21,839 |
Basic EPS, Per Common Share Amount | $0.08 | $0.05 |
Effect of dilutive stock awards and options, Per Common Share Amount | ' | ' |
Diluted EPS, Per Common Share Amount | $0.08 | $0.05 |
Earnings_Per_Common_Share_Addi
Earnings Per Common Share - Additional Information (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2014 | Jun. 30, 2015 | Dec. 31, 2008 | Mar. 31, 2014 | Dec. 31, 2013 | Apr. 23, 2014 |
Period | Term Loan [Member] | Forecast [Member] | Forecast [Member] | Cumulative Perpetual Preferred Stock, Series A [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||
Term Loan [Member] | Term Loan [Member] | Directors | Subsequent Event [Member] | |||||||
Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Anti-dilutive securities, shares | 37,000 | 871,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued | 10,680 | ' | 10,680 | ' | ' | ' | 17,680 | ' | ' | ' |
Dividends payable through February 2014 | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' |
Dividends payable thereafter | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' |
Number of directors, Series A Preferred Stock | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Failure of dividend payments for periods | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares repurchased | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' |
Preferred shares | 10,680 | ' | 10,680 | ' | ' | ' | ' | ' | 17,680 | ' |
Remaining number of shares repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,680 |
Payment of treasury shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.90 |
Percentage of preferred stock par value repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% |
Term loan, maturity date | ' | ' | ' | 21-Apr-17 | ' | ' | ' | ' | ' | ' |
Quarterly payments of outstanding principal plus accrued interest | ' | ' | ' | ' | 10.00% | 7.50% | ' | ' | ' | ' |
Initial interest rate on loan, description | ' | ' | ' | 'three-month LIBOR plus 3.50%B per annum | ' | ' | ' | ' | ' | ' |
Initial interest rate on loan | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' |
Common stock to purchase through warrant | 780,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of warrant | $3.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined_Benefit_Plan_Additiona
Defined Benefit Plan - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended |
31-May-08 | Mar. 31, 2014 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Minimum eligibility criteria of full-time pre-merger bank employees for Bank of Essex noncontributory defined benefit pension plan | '21 years | ' |
Employer contribution for the plan | ' | $0 |
Defined_Benefit_Plan_Component
Defined Benefit Plan - Components of Net Periodic Benefit Cost for Plan (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Interest cost | $56 | $56 |
Expected return on plan assets | -99 | -101 |
Amortization of prior service cost | 1 | ' |
Recognized net actuarial loss | 3 | 17 |
Net periodic benefit | ($39) | ($28) |