Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'PBIB | ' |
Entity Registrant Name | 'PORTER BANCORP, INC. | ' |
Entity Central Index Key | '0001358356 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 12,846,668 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from financial institutions | $51,444 | $46,512 |
Federal funds sold | 1,989 | 3,060 |
Cash and cash equivalents | 53,433 | 49,572 |
Securities available for sale | 193,981 | 178,476 |
Mortgage loans held for sale | 123 | 507 |
Loans, net of allowance of $31,754 and $56,680, respectively | 702,486 | 842,412 |
Premises and equipment | 20,167 | 20,805 |
Other real estate owned | 41,857 | 43,671 |
Federal Home Loan Bank stock | 10,072 | 10,072 |
Bank owned life insurance | 8,841 | 8,398 |
Accrued interest receivable and other assets | 7,167 | 8,718 |
Total assets | 1,038,127 | 1,162,631 |
Deposits | ' | ' |
Non-interest bearing | 101,191 | 114,310 |
Interest bearing | 845,705 | 950,749 |
Total deposits | 946,896 | 1,065,059 |
Repurchase agreements | 3,722 | 2,634 |
Federal Home Loan Bank advances | 4,741 | 5,604 |
Accrued interest payable and other liabilities | 14,578 | 10,169 |
Subordinated capital note | 6,075 | 6,975 |
Junior subordinated debentures | 25,000 | 25,000 |
Total liabilities | 1,001,012 | 1,115,441 |
Stockholders' equity | ' | ' |
Common stock, no par, 86,000,000 shares authorized, 12,846,668 and 12,002,421 shares issued and outstanding, respectively | 112,236 | 112,236 |
Additional paid-in capital | 20,673 | 20,283 |
Retained deficit | -129,043 | -126,517 |
Accumulated other comprehensive income | -5,009 | 3,065 |
Total stockholders' equity | 37,115 | 47,190 |
Total liabilities and stockholders' equity | 1,038,127 | 1,162,631 |
Preferred stock Series A | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock | 34,975 | 34,840 |
Preferred stock Series C | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock | $3,283 | $3,283 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Loans, allowance | $31,754,000 | $56,680,000 |
Preferred stock, no par | ' | ' |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, no par | ' | ' |
Common stock, shares authorized | 86,000,000 | 86,000,000 |
Common stock, shares issued | 12,846,668 | 12,002,421 |
Common stock, shares outstanding | 12,846,668 | 12,002,421 |
Preferred stock Series A | ' | ' |
Preferred stock, issued | 35,000 | 35,000 |
Preferred stock, outstanding | 35,000 | 35,000 |
Preferred stock, Liquidation preference | 35,000,000 | ' |
Preferred stock Series C | ' | ' |
Preferred stock, issued | 317,042 | 317,042 |
Preferred stock, outstanding | 317,042 | 317,042 |
Preferred stock, Liquidation preference | $3,600,000 | ' |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income | ' | ' | ' | ' |
Loans, including fees | $9,265 | $12,797 | $29,252 | $40,998 |
Taxable securities | 900 | 837 | 2,615 | 2,475 |
Tax exempt securities | 239 | 220 | 691 | 666 |
Fed funds sold and other | 139 | 133 | 411 | 415 |
Interest and Dividend Income, Operating, Total | 10,543 | 13,987 | 32,969 | 44,554 |
Interest expense | ' | ' | ' | ' |
Deposits | 2,443 | 3,568 | 7,707 | 11,294 |
Federal Home Loan Bank advances | 38 | 50 | 122 | 161 |
Subordinated capital note | 55 | 66 | 169 | 204 |
Junior subordinated debentures | 157 | 169 | 468 | 508 |
Federal funds purchased and other | 1 | 2 | 4 | 6 |
Interest Expense, Total | 2,694 | 3,855 | 8,470 | 12,173 |
Net interest income | 7,849 | 10,132 | 24,499 | 32,381 |
Provision for loan losses | 250 | 25,500 | 700 | 33,250 |
Net interest income (loss) after provision for loan losses | 7,599 | -15,368 | 23,799 | -869 |
Non-interest income | ' | ' | ' | ' |
Service charges on deposit accounts | 536 | 563 | 1,535 | 1,673 |
Income from fiduciary activities | ' | 261 | 517 | 803 |
Bank card interchange fees | 174 | 180 | 542 | 553 |
Other real estate owned rental income | 54 | 180 | 396 | 242 |
Net gain on sales of securities | 24 | ' | 727 | 3,530 |
Income from bank owned life insurance | 75 | 79 | 459 | 238 |
Other | 304 | 458 | 786 | 1,145 |
Noninterest Income, Total | 1,167 | 1,721 | 4,962 | 8,184 |
Non-interest expense | ' | ' | ' | ' |
Salaries and employee benefits | 3,837 | 4,264 | 11,975 | 12,558 |
Occupancy and equipment | 884 | 971 | 2,728 | 2,826 |
Loan collection expense | 531 | 792 | 3,973 | 1,738 |
Other real estate owned expense | 669 | 5,204 | 3,117 | 7,666 |
FDIC Insurance | 578 | 559 | 1,867 | 2,264 |
State franchise tax | 537 | 496 | 1,611 | 1,680 |
Professional fees | 503 | 776 | 1,408 | 1,699 |
Communications | 177 | 175 | 531 | 523 |
Insurance expense | 171 | 98 | 482 | 296 |
Postage and delivery | 99 | 108 | 314 | 339 |
Other | 482 | 707 | 1,835 | 1,870 |
Non-interest expense | 8,468 | 14,150 | 29,841 | 33,459 |
Income (loss) before income taxes | 298 | -27,797 | -1,080 | -26,144 |
Income tax benefit | ' | -65 | ' | -65 |
Net income (loss) | 298 | -27,732 | -1,080 | -26,079 |
Less: | ' | ' | ' | ' |
Dividends on preferred stock | 437 | 437 | 1,311 | 1,312 |
Accretion on Series A preferred stock | 45 | 44 | 135 | 134 |
Earnings (losses) allocated to participating securities | -16 | -1,264 | -174 | -1,095 |
Net income (loss) attributable to common shareholders | ($168) | ($26,949) | ($2,352) | ($26,430) |
Basic earnings (loss) per common share | ($0.01) | ($2.29) | ($0.20) | ($2.25) |
Diluted earnings (loss) per common share | ($0.01) | ($2.29) | ($0.20) | ($2.25) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income (loss) | $298 | ($27,732) | ($1,080) | ($26,079) |
Unrealized gain (loss) on securities: | ' | ' | ' | ' |
Unrealized gain (loss) arising during the period (net of tax of $887, $821, $4,093 and $970, respectively) | -1,647 | 1,525 | -7,601 | 1,803 |
Reclassification of amount realized through sales (net of tax of $8, $0, $254, and $1,235, respectively) | -16 | ' | -473 | -2,295 |
Other comprehensive income (loss) | -1,663 | 1,525 | -8,074 | -492 |
Comprehensive loss | ($1,365) | ($26,207) | ($9,154) | ($26,571) |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Unrealized gain (loss) arising during the period, tax | $887 | $821 | $4,093 | $970 |
Reclassification of amount realized through sales, tax | $8 | $0 | $254 | $1,235 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Equity (USD $) | Total | Common | Series A Preferred | Series C Preferred | Additional Paid-In Capital | Retained Deficit | Accumulated Other Comprehensive Income |
In Thousands, except Share data | |||||||
Beginning Balances at Dec. 31, 2012 | $47,190 | $112,236 | $34,840 | $3,283 | $20,283 | ($126,517) | $3,065 |
Beginning Balances (in shares) at Dec. 31, 2012 | ' | 12,002,421 | 35,000 | 317,042 | ' | ' | ' |
Issuance of unvested stock | ' | 875,569 | ' | ' | ' | ' | ' |
Forfeited unvested stock | ' | -31,322 | ' | ' | ' | ' | ' |
Stock-based compensation expense | 390 | ' | ' | ' | 390 | ' | ' |
Net loss | -1,080 | ' | ' | ' | ' | -1,080 | ' |
Net change in accumulated other comprehensive income, net of taxes | -8,074 | ' | ' | ' | ' | ' | -8,074 |
Dividends 5% on Series A preferred stock | -1,311 | ' | ' | ' | ' | -1,311 | ' |
Accretion of Series A preferred stock discount | ' | ' | 135 | ' | ' | -135 | ' |
Ending Balances at Sep. 30, 2013 | $37,115 | $112,236 | $34,975 | $3,283 | $20,673 | ($129,043) | ($5,009) |
Ending Balances (in shares) at Sep. 30, 2013 | ' | 12,846,668 | 35,000 | 317,042 | ' | ' | ' |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) | 9 Months Ended |
Sep. 30, 2013 | |
Dividends on Series A preferred stock, per share | 5.00% |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Cash flows from operating activities | ' | ' | ' |
Net loss | ($1,080) | ($26,079) | ' |
Adjustments to reconcile net loss to net cash from operating activities | ' | ' | ' |
Depreciation and amortization | 1,506 | 1,819 | ' |
Provision for loan losses | 700 | 33,250 | 40,300 |
Net amortization on securities | 1,709 | 2,610 | ' |
Stock-based compensation expense | 390 | 338 | ' |
Net gain on loans originated for sale | -76 | -260 | ' |
Loans originated for sale | -3,160 | -12,214 | ' |
Proceeds from sales of loans originated for sale | 3,609 | 12,910 | ' |
Net gain on sales of investment securities | -727 | -3,530 | ' |
Net loss on sales of other real estate owned | 190 | 1,481 | ' |
Net write-down of other real estate owned | 1,584 | 5,090 | ' |
Earnings on bank owned life insurance | -443 | -222 | ' |
Net change in accrued interest receivable and other assets | 1,144 | 5,075 | ' |
Net change in accrued interest payable and other liabilities | 3,098 | 4,027 | ' |
Net cash from operating activities | 8,444 | 24,295 | ' |
Cash flows from investing activities | ' | ' | ' |
Purchases of available-for-sale securities | -50,266 | -141,232 | ' |
Sales and calls of available-for-sale securities | 2,712 | 65,695 | ' |
Maturities and prepayments of available-for-sale securities | 22,993 | 36,649 | ' |
Proceeds from sale of other real estate owned | 18,567 | 17,032 | ' |
Improvements to other real estate owned | ' | -1 | ' |
Loan originations and payments, net | 120,453 | 120,958 | ' |
Purchases of premises and equipment, net | -204 | -399 | ' |
Net cash from investing activities | 114,255 | 98,702 | ' |
Cash flows from financing activities | ' | ' | ' |
Net change in deposits | -118,163 | -146,236 | ' |
Net change in repurchase agreements | 1,088 | 665 | ' |
Repayment of Federal Home Loan Bank advances | -863 | -1,156 | ' |
Repayment of subordinated capital note | -900 | -450 | ' |
Net cash from financing activities | -118,838 | -147,177 | ' |
Net change in cash and cash equivalents | 3,861 | -24,180 | ' |
Beginning cash and cash equivalents | 49,572 | 105,962 | 105,962 |
Ending cash and cash equivalents | 53,433 | 81,782 | 49,572 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid | 8,156 | 11,808 | ' |
Income taxes paid (refunded) | ' | -2,000 | ' |
Supplemental non-cash disclosure: | ' | ' | ' |
Transfer from loans to other real estate | 18,542 | 31,531 | ' |
Financed sales of other real estate owned | $15 | $541 | ' |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation and Summary of Significant Accounting Policies | ' |
Note 1 – Basis of Presentation and Summary of Significant Accounting Policies | |
Basis of Presentation – The consolidated financial statements include Porter Bancorp, Inc. (Company or PBI) and its subsidiary, PBI Bank (Bank). The Company owns a 100% interest in the Bank. All significant inter-company transactions and accounts have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K. | |
Use of Estimates – To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, fair values of financial instruments, stock compensation, deferred tax assets, other intangibles, and fair values of other real estate owned are particularly subject to change. | |
Reclassifications – Some items in the prior year financial statements were reclassified to conform to the current presentation. The reclassifications did not impact net income or stockholders’ equity. |
Going_Concern_Considerations_a
Going Concern Considerations and Future Plans | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Going Concern Considerations and Future Plans | ' | |||
Note 2 – Going Concern Considerations and Future Plans | ||||
The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future. However, the events and circumstances described in this Note raise substantial doubt about the Company’s ability to continue as a going concern. | ||||
During the first nine months of 2013, we reported net loss to common shareholders of $2.4 million, compared with net loss to common shareholders of $26.4 million for the first nine months of 2012. This was primarily due to a reduction in provision for loan loss expense of $32.6 million, and a $3.6 million decrease in non-interest expense, countered by a $7.9 million reduction in net interest income, driven by the reduction of the size of our loan portfolio. | ||||
For the year ended December 31, 2012, we reported net loss to common shareholders of $33.4 million. This loss was attributable primarily to $40.3 million of provision for loan losses expense. A decline in credit quality in our portfolio during the year resulted in net charge-offs of $36.1 million, and OREO expense of $10.5 million resulting from fair value write-downs driven by new appraisals and reduced marketing prices, net loss on sales, and ongoing operating expense. We also had lower net interest margin due to lower average loans outstanding, loans re-pricing at lower rates, and the level of non-performing loans in our portfolio. Net loss to common shareholders of $33.4 million, for the year ended December 31, 2012, compares with net loss to common shareholders of $105.2 million for the year ended December 31, 2011. | ||||
In the fourth quarter of 2011, we began deferring the payment of regular quarterly cash dividends on our Series A Preferred Stock issued to the U.S. Treasury. At September 30, 2013, cumulative accrued and unpaid dividends on this stock totaled $3.7 million. We have deferred dividend payments for more than six quarters and the holder of our Series A Preferred Stock (currently the U.S. Treasury) has the right to appoint up to two representatives to our Board of Directors. We continue to accrue deferred dividends, which are deducted from income to common shareholders for financial statement purposes. | ||||
In June 2011, the Bank agreed to a Consent Order with the FDIC and KDFI in which the Bank agreed, among other things, to improve asset quality, reduce loan concentrations, and maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. The Consent Order was included in our Current Report on 8-K filed on June 30, 2011. In October 2012, the Bank entered into a new Consent Order with the FDIC and KDFI again agreeing to maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. The Bank also agreed that if it should be unable to reach the required capital levels, and if directed in writing by the FDIC, then the Bank would within 30 days develop, adopt and implement a written plan to sell or merge itself into another federally insured financial institution or otherwise immediately obtain a sufficient capital investment into the Bank to fully meet the capital requirements. | ||||
We expect to continue to work with our regulators toward capital ratio compliance as outlined in the written capital plan previously submitted by the Bank. The new Consent Order also requires the Bank to continue to adhere to the plans implemented in response to the June 2011 Consent Order, and includes the substantive provisions of the June 2011 Consent Order. The new Consent Order was included in our Current Report on 8-K filed on September 19, 2012. As of September 30, 2013, the capital ratios required by the Consent Order were not met. | ||||
In order to meet these capital requirements, the Board of Directors and management are continuing to evaluate strategies to achieve the following objectives: | ||||
• | Increasing capital through a possible public offering or private placement of common stock to new and existing shareholders. We have engaged a financial advisor to assist our Board in evaluating our options for increasing capital and redeeming our Series A preferred stock issued to the US Treasury in 2008 under the Capital Purchase Program. | |||
• | Continuing to operate the Company and Bank in a safe and sound manner. This strategy may require us to continue to reduce the size of our balance sheet, reduce our lending concentrations, consider selling loans, and reduce other noninterest expense through the disposition of OREO. | |||
• | Continuing with succession planning and adding resources to the management team. John T. Taylor was named President and CEO for PBI Bank and appointed to the Board of Directors in July 2012. Mr. Taylor has been named to succeed Maria Bouvette as CEO of the Company pending regulatory approval following Ms. Bouvette’s retirement effective July 31, 2013. John R. Davis was appointed Chief Credit Officer of PBI Bank in August 2012, with responsibility for establishing and executing the credit quality policies and overseeing credit administration for the organization. We have augmented our staffing in the commercial lending area, now led by Joe C. Seiler. | |||
• | Evaluating our internal processes and procedures, distribution of labor, and work-flow to ensure we have adequately and appropriately deployed resources in an efficient manner in the current environment. To this end, we believe the opportunity exists to centralize key processes that will lead to improved execution and cost savings. | |||
• | Executing on our commitment to improve credit quality and reduce loan concentrations and balance sheet risk. | |||
• | We have reduced the size of our loan portfolio significantly from $1.3 billion at December 31, 2010, to $1.1 billion at December 31, 2011, to $899.1 million at December 31, 2012, and $734.2 million at September 30, 2013. | |||
• | Our Consent Order calls for us to reduce our construction and development loans to not more than 75% of total risk-based capital. We are now in compliance as construction and development loans totaled $52.0 million, or 62% of total risk-based capital, at September 30, 2013, down from $70.3 million, or 82% of total risk-based capital, at December 31, 2012. | |||
• | Our Consent Order also requires us to reduce non-owner occupied commercial real estate loans, construction and development loans, and multi-family residential real estate loans as a group, to not more than 250% of total risk-based capital. While we have made significant progress over the last year, we were not in compliance with this concentration limit at September 30, 2013. These loans totaled $250.1 million, or 300% of total risk-based capital, at September 30, 2013 and $311.1 million, or 362% of total risk-based capital, at December 31, 2012. | |||
• | We are working to reduce our loan concentrations by curtailing new construction and development lending and new non-owner occupied commercial real estate lending. We are also receiving principal reductions from amortizing credits and pay-downs from our customers who sell properties built for resale. We have reduced the construction loan portfolio from $199.5 million at December 31, 2010 to $52.0 million at September 30, 2013. Our non-owner occupied commercial real estate loans declined from $293.3 million at December 31, 2010 to $152.0 million at September 30, 2013. | |||
• | Executing on our commitment to sell other real estate owned and reinvest in quality income producing assets. | |||
• | The remediation process for loans secured by real estate has led the Bank to acquire significant levels of OREO in 2012, 2011, and 2010. This trend has continued at a slower pace in 2013. The Bank acquired $33.5 million, $41.9 million, and $90.8 million during 2012, 2011, and 2010, respectively. For the first nine months of 2013, we acquired $18.5 million of OREO. | |||
• | We have incurred significant losses in disposing of this real estate. We incurred losses totaling $9.3 million, $42.8 million, and $13.9 million in 2012, 2011, and 2010, respectively, from sales at less than carrying values and fair value write-downs attributable to declines in appraisal valuations and changes in our pricing strategies. During the nine month period ended September 30, 2013, we incurred OREO losses totaling $1.8 million, which consisted of $190,000 in loss on sale and $1.6 million from declining values as evidenced by new appraisals and reduced marketing prices in connection with our sales strategies. | |||
• | To ensure we maximize the value we receive upon the sale of OREO, we continually evaluate sales opportunities. We are targeting multiple sales opportunities through internal marketing and the use of brokers, auctions, technology sales platforms, and bulk sale strategies. Proceeds from the sale of OREO totaled $18.6 million during the nine months ended September 30, 2013 and $22.5 million, $26.0 million and $25.0 million during 2012, 2011, and 2010, respectively. | |||
• | At December 31, 2012, the OREO portfolio consisted of 51% construction, development, and land assets. At September 30, 2013 this concentration had declined to 48%. This is consistent with our reduction of construction, development and other land loans, which have declined to $52.0 million at September 30, 2013 compared to $70.3 million at December 31, 2012. Commercial real estate represents 34% of the portfolio at September 30, 2013 compared with 35% at December 31, 2012. 1-4 family residential properties represent 15% of the portfolio at September 30, 2013 compared with 12% at December 31, 2012. | |||
• | Evaluating other strategic alternatives, such as the sale of assets or branches. | |||
Bank regulatory agencies can exercise discretion when an institution does not meet the terms of a consent order. Based on individual circumstances, the agencies may issue mandatory directives, impose monetary penalties, initiate changes in management, or take more serious adverse actions. |
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
Note 3 – Securities | |||||||||||||||||||||||||
The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U.S. Government and federal agency | $ | 29,184 | $ | 328 | $ | (1,599 | ) | $ | 27,913 | ||||||||||||||||
Agency mortgage-backed: residential | 85,583 | 519 | (1,529 | ) | 84,573 | ||||||||||||||||||||
State and municipal | 58,150 | 962 | (1,965 | ) | 57,147 | ||||||||||||||||||||
Corporate bonds | 23,123 | 915 | (473 | ) | 23,565 | ||||||||||||||||||||
Other | 572 | 34 | — | 606 | |||||||||||||||||||||
Total debt securities | 196,612 | 2,758 | (5,566 | ) | 193,804 | ||||||||||||||||||||
Equity | 135 | 42 | — | 177 | |||||||||||||||||||||
Total | $ | 196,747 | $ | 2,800 | $ | (5,566 | ) | $ | 193,981 | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Government and federal agency | $ | 5,603 | $ | 530 | $ | — | $ | 6,133 | |||||||||||||||||
Agency mortgage-backed: residential | 94,298 | 1,141 | (257 | ) | 95,182 | ||||||||||||||||||||
State and municipal | 52,485 | 2,335 | (87 | ) | 54,733 | ||||||||||||||||||||
Corporate bonds | 18,851 | 1,150 | (37 | ) | 19,964 | ||||||||||||||||||||
Other | 572 | 46 | — | 618 | |||||||||||||||||||||
Total debt securities | 171,809 | 5,202 | (381 | ) | 176,630 | ||||||||||||||||||||
Equity | 1,359 | 487 | — | 1,846 | |||||||||||||||||||||
Total | $ | 173,168 | $ | 5,689 | $ | (381 | ) | $ | 178,476 | ||||||||||||||||
Sales and calls of available for sale securities were as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||
Proceeds | $ | 804 | $ | — | $ | 2,712 | $ | 65,695 | |||||||||||||||||
Gross gains | 24 | — | 728 | 3,530 | |||||||||||||||||||||
Gross losses | — | — | 1 | — | |||||||||||||||||||||
The amortized cost and fair value of the debt investment securities portfolio are shown by contractual maturity. Contractual maturities may differ from actual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities not due at a single maturity date are detailed separately. | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Maturity | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Within one year | $ | 17,229 | $ | 16,810 | |||||||||||||||||||||
One to five years | 15,513 | 16,690 | |||||||||||||||||||||||
Five to ten years | 69,908 | 67,557 | |||||||||||||||||||||||
Beyond ten years | 8,379 | 8,174 | |||||||||||||||||||||||
Agency mortgage-backed: residential | 85,583 | 84,573 | |||||||||||||||||||||||
Total | $ | 196,612 | $ | 193,804 | |||||||||||||||||||||
Securities pledged at September 30, 2013 and December 31, 2012 had carrying values of approximately $59.3 million and $76.4 million, respectively, and were pledged to secure public deposits and repurchase agreements. | |||||||||||||||||||||||||
The Company evaluates securities for other than temporary impairment (OTTI) on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, underlying credit quality of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, the sector or industry trends and cycles affecting the issuer, and the results of reviews of the issuer’s financial condition. Management currently intends to hold all securities with unrealized losses until recovery, which for fixed income securities may be at maturity. As of September 30, 2013, management does not believe securities within our portfolio with unrealized losses should be classified as other than temporarily impaired. | |||||||||||||||||||||||||
At September 30, 2013, the Company held one equity security. This security was in an unrealized gain position as of September 30, 2013. Management monitors the underlying financial condition of the issuers and current market pricing for this equity security monthly. | |||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, are as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U.S Government & federal agency | $ | 22,104 | $ | (1,599 | ) | $ | — | $ | — | $ | 22,104 | $ | (1,599 | ) | |||||||||||
Agency mortgage-backed: residential | 43,799 | (1,195 | ) | 7,864 | (334 | ) | 51,663 | (1,529 | ) | ||||||||||||||||
State and municipal | 34,048 | (1,897 | ) | 1,068 | (68 | ) | 35,116 | (1,965 | ) | ||||||||||||||||
Corporate bonds | 12,822 | (473 | ) | — | — | 12,822 | (473 | ) | |||||||||||||||||
Total temporarily impaired | $ | 112,773 | $ | (5,164 | ) | $ | 8,932 | $ | (402 | ) | $ | 121,705 | $ | (5,566 | ) | ||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Agency mortgage-backed: residential | $ | 23,375 | $ | (257 | ) | $ | — | $ | — | $ | 23,375 | $ | (257 | ) | |||||||||||
State and municipal | 7,961 | (87 | ) | — | — | 7,961 | (87 | ) | |||||||||||||||||
Corporate bonds | 3,777 | (37 | ) | — | — | 3,777 | (37 | ) | |||||||||||||||||
Equity | 2 | — | — | — | 2 | — | |||||||||||||||||||
Total temporarily impaired | $ | 35,115 | $ | (381 | ) | $ | — | $ | — | $ | 35,115 | $ | (381 | ) | |||||||||||
Loans
Loans | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
Note 4 – Loans | |||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Loans were as follows: | |||||||||||||||||||||||||||||||||
Commercial | $ | 51,572 | $ | 52,567 | |||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 51,994 | 70,284 | |||||||||||||||||||||||||||||||
Farmland | 73,159 | 80,825 | |||||||||||||||||||||||||||||||
Nonfarm nonresidential | 236,579 | 322,687 | |||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 46,052 | 50,986 | |||||||||||||||||||||||||||||||
1-4 Family | 234,759 | 278,273 | |||||||||||||||||||||||||||||||
Consumer | 15,709 | 20,383 | |||||||||||||||||||||||||||||||
Agriculture | 23,669 | 22,317 | |||||||||||||||||||||||||||||||
Other | 747 | 770 | |||||||||||||||||||||||||||||||
Subtotal | 734,240 | 899,092 | |||||||||||||||||||||||||||||||
Less: Allowance for loan losses | (31,754 | ) | (56,680 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 702,486 | $ | 842,412 | |||||||||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,648 | $ | 21,022 | $ | 10,790 | $ | 594 | $ | 487 | $ | 18 | $ | 37,559 | |||||||||||||||||||
Provision for loan losses | (539 | ) | 196 | 612 | 61 | (67 | ) | (13 | ) | 250 | |||||||||||||||||||||||
Loans charged off | (965 | ) | (4,726 | ) | (1,272 | ) | (99 | ) | (9 | ) | — | (7,071 | ) | ||||||||||||||||||||
Recoveries | 443 | 456 | 63 | 44 | 10 | — | 1,016 | ||||||||||||||||||||||||||
Ending balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,811 | $ | 31,049 | $ | 15,587 | $ | 792 | $ | 343 | $ | 12 | $ | 51,594 | |||||||||||||||||||
Provision for loan losses | 2,630 | 17,412 | 4,326 | 366 | 763 | 3 | 25,500 | ||||||||||||||||||||||||||
Loans charged off | (2,400 | ) | (16,192 | ) | (3,824 | ) | (375 | ) | (696 | ) | — | (23,487 | ) | ||||||||||||||||||||
Recoveries | 27 | 324 | 16 | 24 | 21 | — | 412 | ||||||||||||||||||||||||||
Ending balance | $ | 4,068 | $ | 32,593 | $ | 16,105 | $ | 807 | $ | 431 | $ | 15 | $ | 54,019 | |||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,402 | $ | 34,768 | $ | 16,235 | $ | 857 | $ | 403 | $ | 15 | $ | 56,680 | |||||||||||||||||||
Provision for loan losses | 94 | 72 | 522 | 140 | (118 | ) | (10 | ) | 700 | ||||||||||||||||||||||||
Loans charged off | (2,073 | ) | (18,904 | ) | (6,748 | ) | (620 | ) | (92 | ) | — | (28,437 | ) | ||||||||||||||||||||
Recoveries | 1,164 | 1,012 | 184 | 223 | 228 | — | 2,811 | ||||||||||||||||||||||||||
Ending balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,207 | $ | 33,024 | $ | 14,217 | $ | 792 | $ | 325 | $ | 14 | $ | 52,579 | |||||||||||||||||||
Provision for loan losses | 2,641 | 19,187 | 9,528 | 687 | 1,206 | 1 | 33,250 | ||||||||||||||||||||||||||
Loans charged off | (2,866 | ) | (20,055 | ) | (7,715 | ) | (747 | ) | (1,124 | ) | — | (32,507 | ) | ||||||||||||||||||||
Recoveries | 86 | 437 | 75 | 75 | 24 | — | 697 | ||||||||||||||||||||||||||
Ending balance | $ | 4,068 | $ | 32,593 | $ | 16,105 | $ | 807 | $ | 431 | $ | 15 | $ | 54,019 | |||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2013: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 381 | $ | 3,267 | $ | 1,046 | $ | 68 | $ | — | $ | — | $ | 4,762 | |||||||||||||||||||
Collectively evaluated for impairment | 3,206 | 13,681 | 9,147 | 532 | 421 | 5 | 26,992 | ||||||||||||||||||||||||||
Total ending allowance balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,226 | $ | 99,437 | $ | 49,741 | $ | 148 | $ | 332 | $ | 533 | $ | 155,417 | |||||||||||||||||||
Loans collectively evaluated for impairment | 46,346 | 262,295 | 231,070 | 15,561 | 23,337 | 214 | 578,823 | ||||||||||||||||||||||||||
Total ending loans balance | $ | 51,572 | $ | 361,732 | $ | 280,811 | $ | 15,709 | $ | 23,669 | $ | 747 | $ | 734,240 | |||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of December 31, 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 263 | $ | 16,046 | $ | 4,641 | $ | 68 | $ | 5 | $ | 11 | $ | 21,034 | |||||||||||||||||||
Collectively evaluated for impairment | 4,139 | 18,722 | 11,594 | 789 | 398 | 4 | 35,646 | ||||||||||||||||||||||||||
Total ending allowance balance | $ | 4,402 | $ | 34,768 | $ | 16,235 | $ | 857 | $ | 403 | $ | 15 | $ | 56,680 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,296 | $ | 125,922 | $ | 56,799 | $ | 212 | $ | 55 | $ | 524 | $ | 188,808 | |||||||||||||||||||
Loans collectively evaluated for impairment | 47,271 | 347,874 | 272,460 | 20,171 | 22,262 | 246 | 710,284 | ||||||||||||||||||||||||||
Total ending loans balance | $ | 52,567 | $ | 473,796 | $ | 329,259 | $ | 20,383 | $ | 22,317 | $ | 770 | $ | 899,092 | |||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
Impaired loans include restructured loans and commercial, construction, agriculture and commercial real estate loans on nonaccrual or classified as either doubtful, whereby collection of the total amount is improbable, or loss, whereby all or a portion of the loan has been written off or a specific allowance for loss has been provided. | |||||||||||||||||||||||||||||||||
The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Average | Interest | Average | Interest | Cash Basis | ||||||||||||||||||||||||||
Principal | Investment | For Loan | Recorded | Income | Recorded | Income | Income | ||||||||||||||||||||||||||
Balance | Losses | Investment | Recognized | Investment | Recognized | Recognized | |||||||||||||||||||||||||||
Allocated | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,853 | $ | 1,556 | $ | — | $ | 1,727 | $ | 30 | $ | 1,644 | $ | 30 | $ | 30 | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 311 | 195 | — | 193 | 153 | 574 | 164 | 164 | |||||||||||||||||||||||||
Farmland | 4,641 | 4,575 | — | 4,439 | 5 | 4,349 | 177 | 177 | |||||||||||||||||||||||||
Nonfarm nonresidential | 2,209 | 1,980 | — | 1,753 | 109 | 1,803 | 366 | 366 | |||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 447 | 395 | — | 516 | — | 579 | — | — | |||||||||||||||||||||||||
1-4 Family | 10,953 | 10,078 | — | 10,538 | 33 | 11,896 | 90 | 90 | |||||||||||||||||||||||||
Consumer | 14 | 14 | — | 8 | — | 25 | — | — | |||||||||||||||||||||||||
Agriculture | 410 | 332 | — | 266 | — | 186 | — | — | |||||||||||||||||||||||||
Other | 18 | 18 | — | 18 | — | 9 | — | — | |||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | 3,776 | 3,670 | 381 | 4,110 | 19 | 4,016 | 80 | — | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 20,462 | 19,316 | 388 | 20,831 | 10 | 22,900 | 78 | — | |||||||||||||||||||||||||
Farmland | 8,000 | 5,606 | 194 | 5,575 | 11 | 5,914 | 33 | — | |||||||||||||||||||||||||
Nonfarm nonresidential | 83,138 | 67,765 | 2,685 | 74,620 | 327 | 78,285 | 1,009 | — | |||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 14,199 | 12,490 | 395 | 12,713 | 51 | 13,372 | 158 | — | |||||||||||||||||||||||||
1-4 Family | 28,795 | 26,778 | 651 | 27,283 | 140 | 27,963 | 358 | — | |||||||||||||||||||||||||
Consumer | 202 | 134 | 68 | 122 | 1 | 146 | 2 | — | |||||||||||||||||||||||||
Agriculture | — | — | — | — | — | 3 | — | — | |||||||||||||||||||||||||
Other | 514 | 515 | — | 516 | 5 | 520 | 13 | — | |||||||||||||||||||||||||
Total | $ | 179,942 | $ | 155,417 | $ | 4,762 | $ | 165,228 | $ | 894 | $ | 174,184 | $ | 2,558 | $ | 827 | |||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loan as of December 31, 2012: | |||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Average | Interest | Cash | ||||||||||||||||||||||||||||
Principal | Investment | For Loan | Recorded | Income | Basis | ||||||||||||||||||||||||||||
Balance | Losses | Investment | Recognized | Income | |||||||||||||||||||||||||||||
Allocated | Recognized | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,460 | $ | 1,234 | $ | — | $ | 1,637 | $ | 5 | $ | 4 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 1,155 | 1,109 | — | 1,745 | 2 | 2 | |||||||||||||||||||||||||||
Farmland | 4,448 | 4,448 | — | 4,706 | 57 | 57 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 2,134 | 1,892 | — | 3,436 | 3 | 3 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 643 | 643 | — | 910 | — | — | |||||||||||||||||||||||||||
1-4 Family | 13,539 | 13,158 | — | 11,291 | 56 | 56 | |||||||||||||||||||||||||||
Consumer | 70 | 70 | — | 219 | 8 | 5 | |||||||||||||||||||||||||||
Agriculture | 45 | 45 | — | 366 | 2 | — | |||||||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | 4,108 | 4,062 | 263 | 3,964 | 169 | 27 | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 26,645 | 25,455 | 1,543 | 19,514 | 348 | 5 | |||||||||||||||||||||||||||
Farmland | 8,557 | 6,456 | 734 | 5,794 | 43 | 2 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 97,699 | 86,562 | 13,769 | 83,087 | 2,011 | 185 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 14,906 | 14,906 | 1,643 | 11,187 | 468 | — | |||||||||||||||||||||||||||
1-4 Family | 31,021 | 28,092 | 2,998 | 27,404 | 787 | 9 | |||||||||||||||||||||||||||
Consumer | 142 | 142 | 68 | 29 | — | — | |||||||||||||||||||||||||||
Agriculture | 10 | 10 | 5 | 6 | — | — | |||||||||||||||||||||||||||
Other | 524 | 524 | 11 | 533 | 17 | — | |||||||||||||||||||||||||||
Total | $ | 207,106 | $ | 188,808 | $ | 21,034 | $ | 175,828 | $ | 3,976 | $ | 355 | |||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||||||||||
A troubled debt restructuring (TDR) occurs when the Company has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. The majority of the Company’s TDRs involve a reduction in interest rate, a deferral of principal for a stated period of time, or an interest only period. All TDRs are considered impaired and the Company has allocated reserves for these loans to reflect the present value of the concessionary terms granted to the borrower. | |||||||||||||||||||||||||||||||||
The following table presents the types of TDR loan modifications by portfolio segment outstanding as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 1,957 | $ | — | $ | 1,957 | |||||||||||||||||||||||||||
Principal deferral | — | 875 | 875 | ||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | 277 | 6,362 | 6,639 | ||||||||||||||||||||||||||||||
Principal deferral | 499 | — | 499 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Principal deferral | 701 | 2,438 | 3,139 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 23,511 | 21,678 | 45,189 | ||||||||||||||||||||||||||||||
Interest only payments | 2,448 | 1,489 | 3,937 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 4,385 | 6,728 | 11,113 | ||||||||||||||||||||||||||||||
Interest only payments | 644 | — | 644 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 8,805 | 9,685 | 18,490 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 77 | — | 77 | ||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Rate reduction | 514 | — | 514 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 43,968 | $ | 49,255 | $ | 93,223 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 1,972 | $ | — | $ | 1,972 | |||||||||||||||||||||||||||
Principal deferral | 887 | — | 887 | ||||||||||||||||||||||||||||||
Interest only payments | — | 958 | 958 | ||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | 4,834 | 4,459 | 9,293 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Principal deferral | 725 | 2,438 | 3,163 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 36,515 | 22,631 | 59,146 | ||||||||||||||||||||||||||||||
Principal deferral | 1,195 | — | 1,195 | ||||||||||||||||||||||||||||||
Interest only payments | 2,466 | 2,107 | 4,573 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 13,087 | — | 13,087 | ||||||||||||||||||||||||||||||
Interest only payments | 652 | — | 652 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 14,323 | 7,871 | 22,194 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 14 | — | 14 | ||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Rate reduction | 524 | — | 524 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 77,344 | $ | 40,464 | $ | 117,808 | |||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, 47% and 66%, respectively, of the Company’s TDRs were performing according to their modified terms. The Company allocated $3.5 million and $15.1 million in reserves to borrowers whose loan terms have been modified in TDRs as of September 30, 2013, and December 31, 2012, respectively. The Company has committed to lend additional amounts totaling $262,000 and $259,000 as of September 30, 2013 and December 31, 2012, respectively, to borrowers with outstanding loans classified as TDRs. | |||||||||||||||||||||||||||||||||
The following tables present a summary of the types of TDR loan modifications by portfolio type that occurred during the three months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 363 | $ | — | $ | 363 | |||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 26 | — | 26 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 389 | $ | — | $ | 389 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 150 | $ | — | $ | 150 | |||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 5,549 | — | 5,549 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 5,699 | $ | — | $ | 5,699 | |||||||||||||||||||||||||||
As of September 30, 2013 and 2012, 100% of the Company’s TDRs that occurred during the three months ended September 30, 2013 and 2012 were performing according to their modified terms. The Company allocated $36,000 and $489,000 in reserves to borrowers whose loan terms have been modified during the three months ended September 30, 2013 and 2012, respectively. For modifications occurring during the three month period ended September 30, 2013 and 2012, the post-modification balances approximate the pre-modification balances. | |||||||||||||||||||||||||||||||||
The following tables present a summary of the types of TDR loan modifications by portfolio type that occurred during the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 39 | $ | — | $ | 39 | |||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | — | 1,291 | 1,291 | ||||||||||||||||||||||||||||||
Principal deferral | 499 | — | 499 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 388 | — | 388 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 1,254 | — | 1,254 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Rate reduction | 64 | — | 64 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 2,244 | $ | 1,291 | $ | 3,535 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Interest only payments | $ | — | $ | 1,019 | $ | 1,019 | |||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | — | 849 | 849 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 16,700 | — | 16,700 | ||||||||||||||||||||||||||||||
Principal deferral | 1,196 | — | 1,196 | ||||||||||||||||||||||||||||||
Interest only payments | 2,467 | 2,174 | 4,641 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 12,848 | 31 | 12,879 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 7,440 | — | 7,440 | ||||||||||||||||||||||||||||||
Principal deferral | — | 384 | 384 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 40,801 | $ | 4,457 | $ | 45,258 | |||||||||||||||||||||||||||
As of September 30, 2013 and 2012, 63% and 90%, respectively, of the Company’s TDRs that occurred during the nine months ended September 30, 2013 and 2012, were performing according to their modified terms. The Company allocated $336,000 and $3.9 million in reserves to borrowers whose loan terms have been modified during the nine months ended September 30, 2013 and 2012, respectively. For modifications occurring during the nine month period ended September 30, 2013 and 2012, the post-modification balances approximate the pre-modification balances. | |||||||||||||||||||||||||||||||||
During the first nine months of 2013, approximately $1.3 million TDRs defaulted on their restructured loan within the 12 month period following the loan modification. These defaults were construction and development loans. A default is considered to have occurred once the TDR is past due 90 days or more or it has been placed on nonaccrual. During the first nine months of 2012, approximately $9.9 million TDRs defaulted on their restructured loan within the 12 month period following the loan modification. These defaults consisted of $6.9 million in commercial real estate loans, $1.2 million in commercial loans, and $1.7 million in 1-4 family residential real estate loans. | |||||||||||||||||||||||||||||||||
Nonperforming Loans | |||||||||||||||||||||||||||||||||
Nonperforming loans include impaired loans not on accrual and smaller balance homogeneous loans, such as residential mortgage and consumer loans, that are collectively evaluated for impairment. | |||||||||||||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual and loans past due 90 days and still on accrual by class of loan as of September 30, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||||||
Nonaccrual | Loans Past | ||||||||||||||||||||||||||||||||
Due 90 Days | |||||||||||||||||||||||||||||||||
And Over Still | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Commercial | $ | 3,084 | $ | 2,437 | $ | — | $ | 36 | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 18,734 | 7,808 | — | — | |||||||||||||||||||||||||||||
Farmland | 9,187 | 10,030 | — | — | |||||||||||||||||||||||||||||
Nonfarm nonresidential | 40,394 | 46,036 | — | — | |||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 7,647 | 1,516 | — | — | |||||||||||||||||||||||||||||
1-4 Family | 27,455 | 26,501 | — | 50 | |||||||||||||||||||||||||||||
Consumer | 71 | 135 | — | — | |||||||||||||||||||||||||||||
Agriculture | 332 | 54 | — | — | |||||||||||||||||||||||||||||
Other | 18 | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 106,922 | $ | 94,517 | $ | — | $ | 86 | |||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | 90 Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
Days | Days | And Over | Past Due | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | And | ||||||||||||||||||||||||||||||
Nonaccrual | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | $ | 4,290 | $ | 174 | $ | — | $ | 3,084 | $ | 7,548 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | — | — | — | 18,734 | 18,734 | ||||||||||||||||||||||||||||
Farmland | 289 | 97 | — | 9,187 | 9,573 | ||||||||||||||||||||||||||||
Nonfarm nonresidential | 771 | 5,968 | — | 40,394 | 47,133 | ||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 1,185 | — | — | 7,647 | 8,832 | ||||||||||||||||||||||||||||
1-4 Family | 3,267 | 1,219 | — | 27,455 | 31,941 | ||||||||||||||||||||||||||||
Consumer | 198 | 35 | — | 71 | 304 | ||||||||||||||||||||||||||||
Agriculture | 18 | 89 | — | 332 | 439 | ||||||||||||||||||||||||||||
Other | — | — | — | 18 | 18 | ||||||||||||||||||||||||||||
Total | $ | 10,018 | $ | 7,582 | $ | — | $ | 106,922 | $ | 124,522 | |||||||||||||||||||||||
30 – 59 | 60 – 89 | 90 Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
Days | Days | And Over | Past Due | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | And | ||||||||||||||||||||||||||||||
Nonaccrual | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,279 | $ | 90 | $ | 36 | $ | 2,437 | $ | 3,842 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 10,510 | 5,815 | — | 7,808 | 24,133 | ||||||||||||||||||||||||||||
Farmland | 922 | 58 | — | 10,030 | 11,010 | ||||||||||||||||||||||||||||
Nonfarm non residential | 5,138 | 13,037 | — | 46,036 | 64,211 | ||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 8,762 | — | — | 1,516 | 10,278 | ||||||||||||||||||||||||||||
1-4 Family | 11,145 | 1,221 | 50 | 26,501 | 38,917 | ||||||||||||||||||||||||||||
Consumer | 310 | 75 | — | 135 | 520 | ||||||||||||||||||||||||||||
Agriculture | 153 | 7 | — | 54 | 214 | ||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 38,219 | $ | 20,303 | $ | 86 | $ | 94,517 | $ | 153,125 | |||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||
We categorize loans into risk categories at origination based upon original underwriting. Thereafter, we categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are analyzed individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $500,000 and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. We do not have any non-rated loans. The following definitions are used for risk ratings: | |||||||||||||||||||||||||||||||||
Watch – Loans classified as watch are those loans which have experienced a potentially adverse development which necessitates increased monitoring. | |||||||||||||||||||||||||||||||||
Special Mention – Loans classified as special mention do not have all of the characteristics of substandard or doubtful loans. They have one or more deficiencies which warrant special attention and which corrective action, such as accelerated collection practices, may remedy. | |||||||||||||||||||||||||||||||||
Substandard – Loans classified as substandard are those loans with clear and defined weaknesses such as a highly leveraged position, unfavorable financial ratios, uncertain repayment sources or poor financial condition which may jeopardize the repayment of the debt as contractually agreed. They are characterized by the distinct possibility we will sustain some losses if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||
Doubtful – Loans classified as doubtful are those loans which have characteristics similar to substandard loans but with an increased risk that collection or liquidation in full is highly questionable and improbable. | |||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be “Pass” rated loans. As of September 30, 2013, and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||||||
Pass | Watch | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | $ | 33,519 | $ | 8,203 | $ | 706 | $ | 9,100 | $ | 44 | $ | 51,572 | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 17,072 | 11,404 | 2,248 | 21,270 | — | 51,994 | |||||||||||||||||||||||||||
Farmland | 45,172 | 11,568 | 879 | 15,540 | — | 73,159 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 87,574 | 62,363 | 2,982 | 83,414 | 246 | 236,579 | |||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 15,230 | 15,397 | — | 15,425 | — | 46,052 | |||||||||||||||||||||||||||
1-4 Family | 131,240 | 46,734 | 2,428 | 54,357 | — | 234,759 | |||||||||||||||||||||||||||
Consumer | 13,845 | 1,079 | 6 | 779 | — | 15,709 | |||||||||||||||||||||||||||
Agriculture | 20,853 | 2,125 | — | 691 | — | 23,669 | |||||||||||||||||||||||||||
Other | 215 | 514 | — | 18 | — | 747 | |||||||||||||||||||||||||||
Total | $ | 364,720 | $ | 159,387 | $ | 9,249 | $ | 200,594 | $ | 290 | $ | 734,240 | |||||||||||||||||||||
Pass | Watch | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | $ | 27,085 | $ | 10,153 | $ | 6,495 | $ | 8,772 | $ | 62 | $ | 52,567 | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 26,085 | 21,713 | 3,647 | 18,839 | — | 70,284 | |||||||||||||||||||||||||||
Farmland | 47,017 | 13,461 | 3,532 | 16,815 | — | 80,825 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 122,603 | 66,223 | 14,955 | 118,635 | 271 | 322,687 | |||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 18,387 | 14,637 | — | 17,962 | — | 50,986 | |||||||||||||||||||||||||||
1-4 Family | 159,975 | 47,030 | 5,167 | 66,101 | — | 278,273 | |||||||||||||||||||||||||||
Consumer | 17,232 | 2,211 | 35 | 842 | 63 | 20,383 | |||||||||||||||||||||||||||
Agriculture | 19,256 | 1,467 | 869 | 725 | — | 22,317 | |||||||||||||||||||||||||||
Other | 246 | 524 | — | — | — | 770 | |||||||||||||||||||||||||||
Total | $ | 437,886 | $ | 177,419 | $ | 34,700 | $ | 248,691 | $ | 396 | $ | 899,092 | |||||||||||||||||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Real Estate Owned | ' | ||||||||||||||||
Note 5 – Other Real Estate Owned | |||||||||||||||||
Other real estate owned (OREO) is real estate acquired as a result of foreclosure or by deed in lieu of foreclosure. It is classified as real estate owned until such time as it is sold. When property is acquired as a result of foreclosure or by deed in lieu of foreclosure, it is recorded at its fair market value less cost to sell. Any write-down of the property at the time of acquisition is charged to the allowance for loan losses. Subsequent reductions in fair value are recorded as non-interest expense. To determine the fair value of OREO for smaller dollar single family homes, we consult with internal real estate sales staff and external realtors, investors, and appraisers. If the internally evaluated market price is below our underlying investment in the property, appropriate write-downs are taken. | |||||||||||||||||
For larger dollar residential and commercial real estate properties, we obtain a new appraisal of the subject property in connection with the transfer to other real estate owned. We typically obtain updated appraisals each year on the anniversary date of ownership unless a sale is imminent. | |||||||||||||||||
The following table presents the major categories of OREO at the period-ends indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in thousands) | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Construction | $ | 20,546 | $ | 22,912 | |||||||||||||
Farmland | 545 | 618 | |||||||||||||||
Other | 14,410 | 15,577 | |||||||||||||||
Residential Real Estate: | |||||||||||||||||
Multi-family | 517 | 200 | |||||||||||||||
1-4 Family | 6,436 | 5,518 | |||||||||||||||
42,454 | 44,825 | ||||||||||||||||
Valuation allowance | (597 | ) | (1,154 | ) | |||||||||||||
$ | 41,857 | $ | 43,671 | ||||||||||||||
For the Three | For the Nine | ||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
OREO Valuation Allowance Activity: | |||||||||||||||||
Beginning balance | $ | 747 | $ | 1,724 | $ | 1,154 | $ | 1,667 | |||||||||
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 | |||||||||||||
Write-downs | (450 | ) | (4,189 | ) | (2,141 | ) | (4,962 | ) | |||||||||
Ending balance | $ | 597 | $ | 1,795 | $ | 597 | $ | 1,795 | |||||||||
Net activity relating to other real estate owned during the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in thousands) | |||||||||||||||||
OREO Activity | |||||||||||||||||
OREO as of January 1 | $ | 43,671 | $ | 41,449 | |||||||||||||
Real estate acquired | 18,542 | 31,531 | |||||||||||||||
Valuation adjustments for declining market values | (1,584 | ) | (5,090 | ) | |||||||||||||
Improvements | — | 1 | |||||||||||||||
Loss on sale | (190 | ) | (1,481 | ) | |||||||||||||
Proceeds from sale of properties | (18,582 | ) | (17,573 | ) | |||||||||||||
OREO as of September 30 | $ | 41,857 | $ | 48,837 | |||||||||||||
Expenses related to other real estate owned include: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
Net loss (gain) on sales | $ | (169 | ) | $ | 533 | $ | 190 | $ | 1,481 | ||||||||
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 | |||||||||||||
Operating expense | 538 | 411 | 1,343 | 1,095 | |||||||||||||
Total | $ | 669 | $ | 5,204 | $ | 3,117 | $ | 7,666 | |||||||||
Deposits
Deposits | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deposits | ' | ||||||||
Note 6 – Deposits | |||||||||
The following table shows deposits by category: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Non-interest bearing | $ | 101,191 | $ | 114,310 | |||||
Interest checking | 71,851 | 87,234 | |||||||
Money market | 77,292 | 63,715 | |||||||
Savings | 37,622 | 39,227 | |||||||
Certificates of deposit | 658,940 | 760,573 | |||||||
Total | $ | 946,896 | $ | 1,065,059 | |||||
Time deposits of $100,000 or more were $279.3 million and $319.5 million at September 30, 2013 and December 31, 2012, respectively. | |||||||||
Scheduled maturities of total time deposits at September 30, 2013 are as follows (in thousands): | |||||||||
Year 1 | $ | 378,763 | |||||||
Year 2 | 236,022 | ||||||||
Year 3 | 25,836 | ||||||||
Year 4 | 10,350 | ||||||||
Year 5 | 7,930 | ||||||||
Thereafter | 39 | ||||||||
$ | 658,940 | ||||||||
Historically, the Bank used brokered and wholesale deposits to supplement its funding strategy. At December 31, 2012, the Bank held $15.0 million in brokered deposits, which matured and were redeemed in the second quarter of 2013. As stipulated in the Consent Order, PBI Bank is currently restricted from accepting, renewing, or rolling-over brokered deposits without the prior receipt of a waiver on a case-by-case basis from our regulators. |
Advances_from_the_Federal_Home
Advances from the Federal Home Loan Bank | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Advances from the Federal Home Loan Bank | ' | ||||||||
Note 7 – Advances from the Federal Home Loan Bank | |||||||||
Advances from the Federal Home Loan Bank were as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2013 through 2033, averaging 3.13% for 2013 | $ | 4,741 | $ | 5,604 | |||||
Each advance is payable per terms on agreement, with a prepayment penalty. The advances are collateralized by first mortgage loans. The borrowing capacity is based on the market value of the underlying pledged loans rather than the unpaid principal balance of the pledged loans. At September 30, 2013, our additional borrowing capacity with the FHLB was $16.4 million. The availability of our borrowing capacity could be affected by our financial position and the FHLB could require additional collateral or, among other things, exercise its right to deny a funding request, at its discretion. Additionally, any new advances are limited to a one year maturity or less. |
Fair_Values_Measurement
Fair Values Measurement | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Values Measurement | ' | ||||||||||||||||||||
Note 8 – Fair Values Measurement | |||||||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We use various valuation techniques to determine fair value, including market, income and cost approaches. There are three levels of inputs that may be used to measure fair values: | |||||||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets an entity has the ability to access as of the measurement date, or observable inputs. | |||||||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||||
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. When that occurs, we classify the fair value hierarchy on the lowest level of input that is significant to the fair value measurement. We used the following methods and significant assumptions to estimate fair value. | |||||||||||||||||||||
Securities: The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges, if available. This valuation method is classified as Level 1 in the fair value hierarchy. For securities where quoted prices are not available, fair values are calculated on market prices of similar securities, or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. Matrix pricing relies on the securities’ relationship to similarly traded securities, benchmark curves, and the benchmarking of like securities. Matrix pricing utilizes observable market inputs such as benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic events. In instances where broker quotes are used, these quotes are obtained from market makers or broker-dealers recognized to be market participants. This valuation method is classified as Level 2 in the fair value hierarchy. For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators. This valuation method is classified as Level 3 in the fair value hierarchy. Discounted cash flows are calculated using spread to swap and LIBOR curves that are updated to incorporate loss severities, volatility, credit spread and optionality. During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations. | |||||||||||||||||||||
Impaired Loans: An impaired loan is evaluated at the time the loan is identified as impaired and is recorded at fair value less costs to sell. Fair value is measured based on the value of the collateral securing the loan and is classified as Level 3 in the fair value hierarchy. Fair value is determined using several methods. Generally, the fair value of real estate is determined based on appraisals by qualified licensed appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. | |||||||||||||||||||||
Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. These routine adjustments are made to adjust the value of a specific property relative to comparable properties for variations in qualities such as location, size, and income production capacity relative to the subject property of the appraisal. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||
We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our impaired loans. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where the date of the appraisal of the collateral predates a likely change in market conditions. These deductions range from 10% for routine real estate collateral to 30% for real estate that is determined (1) to have a thin trading market or (2) to be for unique use. This is in addition to estimated discounts for cost to sell of ten percent. | |||||||||||||||||||||
We also apply discounts to the expected fair value of collateral for impaired loans where the likely resolution involves litigation of foreclosure. Resolution of this nature generally results in receiving lower values for real estate collateral in a more aggressive sales environment. We have utilized discounts ranging from 10% to 33% in our impairment evaluations when applicable. | |||||||||||||||||||||
Impaired loans are evaluated quarterly for additional impairment. We obtain updated appraisals on properties securing our loans when circumstances are warranted such as at the time of renewal or when market conditions have significantly changed. This determination is made on a property-by-property basis in light of circumstances in the broader economic climate and our assessment of deterioration of real estate values in the market in which the property is located. The first stage of our assessment involves management’s inspection of the property in question. Management also engages in conversations with local real estate professionals, investors, and market makers to determine the likely marketing time and value range for the property. The second stage involves an assessment of current trends in the regional market. After thorough consideration of these factors, management will either internally evaluate fair value or order a new appraisal. | |||||||||||||||||||||
Other Real Estate Owned (OREO): OREO is evaluated at the time of acquisition and recorded at fair value as determined by independent appraisal or internal market evaluation less cost to sell. Our quarterly evaluations of OREO for impairment are driven by property type. For smaller dollar single family homes, we consult with internal real estate sales staff and external realtors, investors, and appraisers. Based on these consultations, we determine asking prices for OREO properties we are marketing for sale. If the internally evaluated fair value is below our recorded investment in the property, appropriate write-downs are taken. | |||||||||||||||||||||
For larger dollar commercial real estate properties, we obtain a new appraisal of the subject property in connection with the transfer to other real estate owned. In some of these circumstances, an appraisal is in process at quarter end, and we must make our best estimate of fair value based on our internal evaluation of the property, review of the most recent appraisal, and discussions with the currently engaged appraiser. We typically obtain updated appraisals on the anniversary date of ownership unless a sale is imminent. | |||||||||||||||||||||
We routinely apply an internal discount to the value of appraisals used in the fair value evaluation of our OREO. The deductions to the appraisal take into account changing business factors and market conditions, as well as potential value impairment in cases where our appraisal date predates a likely change in market conditions. These deductions range from 10% for routine real estate to 30% for real estate that is determined (1) to have a thin trading market or (2) to be for unique use. This is in addition to estimated discounts for cost to sell of ten percent. | |||||||||||||||||||||
Financial assets measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Government and federal agency | $ | 27,913 | $ | — | $ | 27,913 | $ | — | |||||||||||||
Agency mortgage-backed: residential | 84,573 | — | 84,573 | — | |||||||||||||||||
State and municipal | 57,147 | — | 57,147 | — | |||||||||||||||||
Corporate bonds | 23,565 | — | 23,565 | — | |||||||||||||||||
Other debt securities | 606 | — | — | 606 | |||||||||||||||||
Equity securities | 177 | 177 | — | — | |||||||||||||||||
Total | $ | 193,981 | $ | 177 | $ | 193,198 | $ | 606 | |||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable | Unobservable | ||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Government and federal agency | $ | 6,133 | $ | — | $ | 6,133 | $ | — | |||||||||||||
Agency mortgage-backed: residential | 95,182 | — | 95,182 | — | |||||||||||||||||
State and municipal | 54,733 | — | 54,733 | — | |||||||||||||||||
Corporate bonds | 19,964 | — | 19,964 | — | |||||||||||||||||
Other debt securities | 618 | — | — | 618 | |||||||||||||||||
Equity securities | 1,846 | 1,846 | — | — | |||||||||||||||||
Total | $ | 178,476 | $ | 1,846 | $ | 176,012 | $ | 618 | |||||||||||||
There were no transfers between Level 1 and Level 2 during 2013 or 2012. | |||||||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2013 and 2012: | |||||||||||||||||||||
State and Municipal | Other Debt | ||||||||||||||||||||
Securities | Securities | ||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Balances of recurring Level 3 assets at January 1 | $ | — | $ | 1,173 | $ | 618 | $ | 606 | |||||||||||||
Total gain (loss) for the period: | |||||||||||||||||||||
Included in other comprehensive income (loss) | — | — | (12 | ) | (11 | ) | |||||||||||||||
Sales | — | (1,173 | ) | — | — | ||||||||||||||||
Balance of recurring Level 3 assets at September 30 | $ | — | $ | — | $ | 606 | $ | 595 | |||||||||||||
Level 3 state and municipal securities valuations are supported by analysis prepared by an independent third party. Their approach to determining fair value involves using recently executed transactions for similar securities and market quotations for similar securities. As securities of this type are not rated by the rating agencies and trading volumes are thin, it was determined these were valued using Level 3 inputs. We sold our Level 3 municipal securities in the second quarter of 2012 and had no securities of this nature at September 30, 2013. | |||||||||||||||||||||
Our other debt security valuation is determined internally by calculating discounted cash flows using the security’s coupon rate of 6.5% and an estimated current market rate of 11.0% based upon the current yield curve plus spreads that adjust for volatility, credit risk, and optionality. We also consider the issuer’s publicly filed financial information as well as assumptions regarding the likelihood of deferrals and defaults. | |||||||||||||||||||||
Financial assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 3,289 | $ | — | $ | — | $ | 3,289 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 18,928 | — | — | 18,928 | |||||||||||||||||
Farmland | 5,412 | — | — | 5,412 | |||||||||||||||||
Other | 65,080 | — | — | 65,080 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 12,095 | — | — | 12,095 | |||||||||||||||||
1-4 Family | 26,127 | — | — | 26,127 | |||||||||||||||||
Consumer | 66 | — | — | 66 | |||||||||||||||||
Other | 515 | — | — | 515 | |||||||||||||||||
Other real estate owned, net: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 20,257 | — | — | 20,257 | |||||||||||||||||
Farmland | 537 | — | — | 537 | |||||||||||||||||
Other | 14,208 | — | — | 14,208 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 509 | — | — | 509 | |||||||||||||||||
1-4 Family | 6,346 | — | — | 6,346 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 3,799 | $ | — | $ | — | $ | 3,799 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 23,912 | — | — | 23,912 | |||||||||||||||||
Farmland | 5,722 | — | — | 5,722 | |||||||||||||||||
Other | 72,793 | — | — | 72,793 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 13,263 | — | — | 13,263 | |||||||||||||||||
1-4 Family | 25,094 | — | — | 25,094 | |||||||||||||||||
Consumer | 74 | — | — | 74 | |||||||||||||||||
Agriculture | 5 | — | — | 5 | |||||||||||||||||
Other | 513 | — | — | 513 | |||||||||||||||||
Other real estate owned, net: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 22,323 | — | — | 22,323 | |||||||||||||||||
Farmland | 602 | — | — | 602 | |||||||||||||||||
Other | 15,175 | — | — | 15,175 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 195 | — | — | 195 | |||||||||||||||||
1-4 Family | 5,376 | — | — | 5,376 | |||||||||||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $136.3 million at September 30, 2013 with a valuation allowance of $4.8 million. This resulted in no additional provision for loan losses for the nine months ended September 30, 2013. At December 31, 2012, impaired loans had a carrying amount of $166.2 million, with a valuation allowance of $21.0 million. | |||||||||||||||||||||
Other real estate owned, which is measured at the lower of carrying or fair value less estimated costs to sell, had a net carrying amount of $41.9 million as of September 30, 2013, compared with $43.7 million at December 31, 2012. Fair value write-downs of $1.6 million were recorded on other real estate owned for the nine months ended September 30, 2013. | |||||||||||||||||||||
The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2013: | |||||||||||||||||||||
Fair Value | Valuation | Unobservable Input(s) | Range (Weighted | ||||||||||||||||||
Technique(s) | Average) | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Impaired loans – Commercial | $ | 3,289 | Market value approach | Adjustment for receivables and inventory discounts | 16% -32%(24%) | ||||||||||||||||
Impaired loans – Commercial real estate | $ | 89,420 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 69%(20%) | ||||||||||||||||
Impaired loans – Residential real estate | $ | 38,222 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 50%(15%) | ||||||||||||||||
Other real estate owned – Commercial real estate | $ | 35,002 | Sales comparison approach | Adjustment for differences between the comparable sales | 3% - 51%(21%) | ||||||||||||||||
Income approach | Discount or capitalization rate | 7% - 16%(11%) | |||||||||||||||||||
Other real estate owned – Residential real estate | $ | 6,855 | Sales comparison approach | Adjustment for differences between the comparable sales | 4% - 34%(12%) | ||||||||||||||||
The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2012: | |||||||||||||||||||||
Fair Value | Valuation | Unobservable Input(s) | Range (Weighted | ||||||||||||||||||
Technique(s) | Average) | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Impaired loans – Commercial | $ | 3,799 | Market value approach | Adjustment for receivables and inventory discounts | 16% -32%(24%) | ||||||||||||||||
Impaired loans – Commercial real estate | $ | 89,461 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 69%(19%) | ||||||||||||||||
Impaired loans – Residential real estate | $ | 38,357 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 38%(15%) | ||||||||||||||||
Other real estate owned – Commercial real estate | $ | 38,100 | Sales comparison approach | Adjustment for differences between the comparable sales | 3% - 50%(18%) | ||||||||||||||||
Income approach | Discount or capitalization rate | 9% - 16%(12%) | |||||||||||||||||||
Other real estate owned – Residential real estate | $ | 5,571 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 30%(9%) | ||||||||||||||||
Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 53,433 | $ | 44,674 | $ | 8,759 | $ | — | $ | 53,433 | |||||||||||
Securities available for sale | 193,981 | 177 | 193,198 | 606 | 193,981 | ||||||||||||||||
Federal Home Loan Bank stock | 10,072 | N/A | N/A | N/A | N/A | ||||||||||||||||
Mortgage loans held for sale | 123 | — | 123 | — | 123 | ||||||||||||||||
Loans, net | 702,486 | — | — | 719,094 | 719,094 | ||||||||||||||||
Accrued interest receivable | 3,964 | — | 1,198 | 2,766 | 3,964 | ||||||||||||||||
Financial liabilities | |||||||||||||||||||||
Deposits | $ | 946,896 | $ | 98,885 | $ | 848,738 | $ | — | $ | 947,623 | |||||||||||
Securities sold under agreements to repurchase | 3,722 | — | 3,722 | — | 3,722 | ||||||||||||||||
Federal Home Loan Bank advances | 4,741 | — | 4,743 | — | 4,743 | ||||||||||||||||
Subordinated capital notes | 6,075 | — | — | 5,789 | 5,789 | ||||||||||||||||
Junior subordinated debentures | 25,000 | — | — | 13,550 | 13,550 | ||||||||||||||||
Accrued interest payable | 2,375 | — | 1,037 | 1,338 | 2,375 | ||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 49,572 | $ | 41,938 | $ | 7,634 | $ | — | $ | 49,572 | |||||||||||
Securities available for sale | 178,476 | 1,846 | 176,012 | 618 | 178,476 | ||||||||||||||||
Federal Home Loan Bank stock | 10,072 | N/A | N/A | N/A | N/A | ||||||||||||||||
Mortgage loans held for sale | 507 | — | 507 | — | 507 | ||||||||||||||||
Loans, net | 842,412 | — | — | 853,996 | 853,996 | ||||||||||||||||
Accrued interest receivable | 5,138 | — | 1,150 | 3,988 | 5,138 | ||||||||||||||||
Financial liabilities | |||||||||||||||||||||
Deposits | $ | 1,065,059 | $ | 114,310 | $ | 955,216 | $ | — | $ | 1,069,526 | |||||||||||
Securities sold under agreements to repurchase | 2,634 | — | 2,634 | — | 2,634 | ||||||||||||||||
Federal Home Loan Bank advances | 5,604 | — | 5,607 | — | 5,607 | ||||||||||||||||
Subordinated capital notes | 6,975 | — | — | 6,599 | 6,599 | ||||||||||||||||
Junior subordinated debentures | 25,000 | — | — | 13,821 | 13,821 | ||||||||||||||||
Accrued interest payable | 2,104 | — | 1,173 | 931 | 2,104 | ||||||||||||||||
The methods and assumptions, not previously presented, used to estimate fair values are described as follows: | |||||||||||||||||||||
(a) Cash and Cash Equivalents | |||||||||||||||||||||
The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. Non-interest bearing deposits are Level 1 whereas interest bearing due from bank accounts and fed funds sold are Level 2. | |||||||||||||||||||||
(b) FHLB Stock | |||||||||||||||||||||
It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||||||
(c) Loans, Net | |||||||||||||||||||||
Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||
(d) Mortgage Loans Held for Sale | |||||||||||||||||||||
The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 2 classification. | |||||||||||||||||||||
(e) Deposits | |||||||||||||||||||||
The fair values disclosed for non-interest bearing deposits are, by definition, equal to the amount payable on demand at the reporting date resulting in a Level 1 classification. The carrying amounts of variable rate interest bearing deposits approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate interest bearing deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||||||
(f) Securities Sold Under Agreements to Repurchase | |||||||||||||||||||||
The carrying amounts of borrowings under repurchase agreements approximate their fair values resulting in a Level 2 classification. | |||||||||||||||||||||
(g) Other Borrowings | |||||||||||||||||||||
The fair values of the Company’s FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates resulting in a Level 2 classification. | |||||||||||||||||||||
The fair values of the Company’s subordinated capital notes and junior subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||||||
(h) Accrued Interest Receivable/Payable | |||||||||||||||||||||
The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification based on the level of the asset or liability with which the accrual is associated. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Taxes | ' | ||||||||
Note 9 – Income Taxes | |||||||||
Deferred tax assets and liabilities were due to the following as of: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Deferred tax assets: | |||||||||
Net operating loss carry-forward | $ | 25,993 | $ | 15,051 | |||||
Allowance for loan losses | 11,114 | 19,838 | |||||||
Other real estate owned write-down | 9,854 | 10,408 | |||||||
Alternative minimum tax credit carry-forward | 692 | 692 | |||||||
Net assets from acquisitions | 635 | 592 | |||||||
Other than temporary impairment on securities | 374 | 374 | |||||||
Net unrealized loss on securities available for sale | 968 | — | |||||||
New market tax credit carry-forward | 208 | 208 | |||||||
Amortization of non-compete agreements | 17 | 19 | |||||||
Other | 981 | 936 | |||||||
50,836 | 48,118 | ||||||||
Deferred tax liabilities: | |||||||||
FHLB stock dividends | 1,276 | 1,276 | |||||||
Fixed assets | 322 | 409 | |||||||
Originated mortgage servicing rights | 81 | 98 | |||||||
Net unrealized gain on securities available for sale | — | 1,858 | |||||||
Other | 498 | 549 | |||||||
2,177 | 4,190 | ||||||||
Net deferred tax assets before valuation allowance | 48,659 | 43,928 | |||||||
Valuation allowance | (48,659 | ) | (43,928 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
Our estimate of the realizability of the deferred tax asset depends on our estimate of projected future levels of taxable income as all carryback ability was fully absorbed by our tax loss of approximately $40 million for 2011. In analyzing future taxable income levels, we considered all evidence currently available, both positive and negative. Based on our analysis, we continue to maintain a valuation allowance for all deferred tax assets as of September 30, 2013. Our deferred tax assets and the related valuation allowance are analyzed and adjusted on a quarterly basis. | |||||||||
The Company does not have any beginning and ending unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. There were no interest and penalties recorded in the income statement or accrued for the nine months ended September 30, 2013 or the year ended December 31, 2012 related to unrecognized tax benefits. | |||||||||
The Company and its subsidiaries are subject to U.S. federal income tax and the Company is subject to income tax in the Commonwealth of Kentucky. The Company is no longer subject to examination by taxing authorities for years before 2009. |
Stock_Plans_and_Stock_Based_Co
Stock Plans and Stock Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Stock Plans and Stock Based Compensation | ' | ||||||||||||||||
Note 10 – Stock Plans and Stock Based Compensation | |||||||||||||||||
The Company has two stock incentive plans. On February 23, 2006, the Company adopted the Porter Bancorp, Inc. 2006 Stock Incentive Plan. In May 2013, the Board approved an amendment to the plan to increase the number of shares authorized for issuance by 800,000 shares. The 2006 Plan now permits the issuance of up to 1,263,050 shares of the Company’s common stock upon the exercise of stock options or upon the grant of stock awards. As of September 30, 2013, the Company had granted 793,095 unvested shares net of forfeitures and vesting under the stock incentive plan. Shares issued under the plan vest annually on the anniversary date of the grant over three to ten years. The Company has 343,829 shares remaining available for issue under the plan. | |||||||||||||||||
On May 15, 2006, the Board of Directors approved the Porter Bancorp, Inc. 2006 Non-Employee Directors Stock Ownership Incentive Plan, which was approved by holders of the Company’s voting common stock on June 8, 2006. On May 22, 2008, shareholders voted to amend the plan to change the form of incentive award from stock options to unvested shares. Under the terms of the plan, 100,000 shares are reserved for issuance to non-employee directors upon the exercise of stock options or upon the grant of unvested stock awards granted under the plan. Prior to the amendment, options were granted automatically under the plan at fair market value on the date of grant. The options vest over a three-year period and have a five year term. Unvested shares are granted automatically under the plan at fair market value on the date of grant and vest semi-annually on the anniversary date of the grant over three years. | |||||||||||||||||
On May 16, 2012, holders of the Company’s voting common stock voted to further amend the 2006 Non-Employee Directors Stock Ownership Incentive Plan to award restricted shares having a fair market value of $25,000 annually to each non-employee director, and to increase the number of shares issuable under the Directors’ Plan from 100,000 shares to 400,000 shares. Shares issued under the amended plan vest on December 31 in the year they are granted. | |||||||||||||||||
To date, the Company has issued 245,909 unvested shares, net of forfeitures and vesting, to non-employee directors. At September 30, 2013, 113,357 shares remain available for issuance under this plan. | |||||||||||||||||
The fair value of the 2013 unvested shares issued to certain employees was $820,000, or $1.18 per weighted-average share. The fair value of the 2013 unvested shares issued to the directors was $155,000 or $0.85 per weighted average share. The Company recorded $391,000 and $338,000 of stock-based compensation during the first nine months of 2013 and 2012, respectively, to salaries and employee benefits. There was no significant impact on compensation expense resulting from forfeited or expiring shares. We expect substantially all of the unvested shares outstanding at the end of the period will vest according to the vesting schedule. No deferred tax benefit was recognized related to this expense for either period. | |||||||||||||||||
The following table summarizes unvested share activity as of and for the periods indicated for the Stock Incentive Plan: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | 153,316 | $ | 5.92 | 96,688 | $ | 13.4 | |||||||||||
Granted | 693,214 | 1.18 | 97,197 | 1.74 | |||||||||||||
Vested | (22,113 | ) | 12.19 | (27,362 | ) | 13.04 | |||||||||||
Forfeited | (31,322 | ) | 6.84 | (13,207 | ) | 15.22 | |||||||||||
Outstanding, ending | 793,095 | $ | 1.57 | 153,316 | $ | 5.92 | |||||||||||
The following table summarizes unvested share activity as of and for the periods indicated for the Non-Employee Directors Stock Ownership Incentive Plan: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | 80,078 | $ | 1.77 | 3,538 | $ | 7.91 | |||||||||||
Granted | 182,355 | 0.85 | 93,943 | 1.65 | |||||||||||||
Vested | (16,524 | ) | 2.02 | (17,403 | ) | 2.37 | |||||||||||
Forfeited | — | — | — | — | |||||||||||||
Outstanding, ending | 245,909 | $ | 1.07 | 80,078 | $ | 1.77 | |||||||||||
As of September 30, 2013, all stock options issued to non-employee directors had expired and none were exercised during their grant term. The Company’s stock-based incentive awards have exclusively been restricted stock grants since 2008. | |||||||||||||||||
The following table summarizes stock option activity: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | — | $ | — | 29,530 | $ | 19.88 | |||||||||||
Forfeited | — | — | — | — | |||||||||||||
Expired | — | — | (29,530 | ) | 19.88 | ||||||||||||
Outstanding, ending | — | $ | — | — | $ | — | |||||||||||
No options were issued, outstanding, or exercised during the first nine months of 2013. The Company recorded no stock option compensation expense during the nine months ended September 30, 2013. No options were modified during the period. As of September 30, 2013, no stock options issued by the Company had been exercised, and all granted options had expired. | |||||||||||||||||
Unrecognized stock based compensation expense related to unvested shares for the remainder of 2013 and beyond is estimated as follows (in thousands): | |||||||||||||||||
October 2013 – December 2013 | $ | 216 | |||||||||||||||
2014 | 522 | ||||||||||||||||
2015 | 397 | ||||||||||||||||
2016 | 240 | ||||||||||||||||
2017 & thereafter | 41 |
Earnings_Loss_per_Share
Earnings (Loss) per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings (Loss) per Share | ' | ||||||||||||||||
Note 11 – Earnings (Loss) per Share | |||||||||||||||||
The factors used in the basic and diluted earnings per share computations follow: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands, except share and per share data) | |||||||||||||||||
Net income (loss) | $ | 298 | $ | (27,732 | ) | $ | (1,080 | ) | $ | (26,079 | ) | ||||||
Less: | |||||||||||||||||
Preferred stock dividends | 437 | 437 | 1,311 | 1,312 | |||||||||||||
Accretion of Series A preferred stock discount | 45 | 44 | 135 | 134 | |||||||||||||
Earnings (loss) allocated to unvested shares | (11 | ) | (501 | ) | (107 | ) | (345 | ) | |||||||||
Earnings (loss) allocated to Series C preferred | (5 | ) | (763 | ) | (67 | ) | (750 | ) | |||||||||
Net income (loss) allocated to common shareholders, basic and diluted | $ | (168 | ) | $ | (26,949 | ) | $ | (2,352 | ) | $ | (26,430 | ) | |||||
Basic | |||||||||||||||||
Weighted average common shares including unvested common shares outstanding | 12,702,627 | 12,303,217 | 12,569,514 | 12,219,035 | |||||||||||||
Less: Weighted average unvested common shares | 776,774 | 218,505 | 535,224 | 153,306 | |||||||||||||
Less: Weighted average Series C preferred | 332,894 | 332,894 | 332,894 | 332,894 | |||||||||||||
Weighted average common shares outstanding | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | |||||||||||||
Basic earnings (loss) per common share | $ | (0.01 | ) | $ | (2.29 | ) | $ | (0.20 | ) | $ | (2.25 | ) | |||||
Diluted | |||||||||||||||||
Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants | — | — | — | — | |||||||||||||
Weighted average common shares and potential common shares | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | |||||||||||||
Diluted earnings (loss) per common share | $ | (0.01 | ) | $ | (2.29 | ) | $ | (0.20 | ) | $ | (2.25 | ) | |||||
The Company had no outstanding stock options at September 30, 2013. A warrant for the purchase of 330,561 shares of the Company’s common stock at an exercise price of $15.88 was outstanding at September 30, 2013 and 2012 but was not included in the diluted EPS computation as inclusion would have been anti-dilutive. Additionally, warrants for the purchase of 1,449,459 shares of non-voting common stock at an exercise price of $11.50 per share were outstanding at September 30, 2013 and 2012, but were not included in the diluted EPS computation as inclusion would have been anti-dilutive. |
Capital_Requirements_and_Restr
Capital Requirements and Restrictions on Retained Earnings | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Capital Requirements and Restrictions on Retained Earnings | ' | ||||||||||||||||||||||||||||
Note 12 – Capital Requirements and Restrictions on Retained Earnings | |||||||||||||||||||||||||||||
Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. | |||||||||||||||||||||||||||||
On June 24, 2011, PBI Bank entered into a Consent Order with the FDIC and the Kentucky Department of Financial Institutions. The consent order required the Bank to complete a management study, to maintain Tier 1 capital as a percentage of total assets of at least 9% and a total risk based capital ratio of at least 12%, to develop a plan to reduce our risk position in each substandard asset in excess of $1 million, to complete board review of the adequacy of the allowance for loan losses prior to quarterly Call Report submissions, to adopt procedures which strengthen the loan review function and ensure timely and accurate grading of credit relationships, to charge-off all assets classified as loss, to develop a plan to reduce concentrations of construction and development loans to not more than 75% of total risk based capital and non-owner occupied commercial real estate loans to not more than 250% of total risk based capital, to limit asset growth to no more than 5% in any quarter or 10% annually, to not extend additional credit to any borrower classified substandard without specific advance board authorization, and to not declare or pay any dividend without the prior consent of our regulators. We are also restricted from accepting, renewing, or rolling-over brokered deposits without the prior receipt of a waiver on a case-by-case basis from our regulators. | |||||||||||||||||||||||||||||
On September 21, 2011, we entered into a Written Agreement with the Federal Reserve Bank of St. Louis. Pursuant to the Agreement, we made formal commitments to use our financial and management resources to serve as a source of strength for the Bank and to assist the Bank in addressing weaknesses identified by the FDIC and the KDFI, to pay no dividends without prior written approval, to pay no interest or principal on subordinated debentures or trust preferred securities without prior written approval, and to submit an acceptable plan to maintain sufficient capital. | |||||||||||||||||||||||||||||
In October 2012, PBI Bank entered into a new consent order with the FDIC and KDFI. The new consent order requires the Bank to maintain a minimum Tier 1 leverage ratio of 9% and a minimum total risk based capital ratio of 12%. The Bank also agreed if it should be unable to reach the required capital levels, and if directed in writing by the FDIC, then the Bank would within 30 days develop, adopt and implement a written plan to sell or merge itself into another federally insured financial institution or otherwise immediately obtain a sufficient capital investment into the Bank to fully meet the capital requirements. We expect to continue to work with our regulators toward capital ratio compliance as outlined in the written capital plan previously submitted by the Bank. The new consent order also requires the Bank to continue to adhere to the plans implemented in response to the June 2011 consent order, and includes the substantive provisions of the June 2011 consent order. | |||||||||||||||||||||||||||||
The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
Regulatory | Well-Capitalized | Minimum Capital | Porter | PBI | Porter | PBI | |||||||||||||||||||||||
Minimums | Minimums | Ratios Under | Bancorp | Bank | Bancorp | Bank | |||||||||||||||||||||||
Consent Order | |||||||||||||||||||||||||||||
Tier 1 Capital | 4 | % | 6 | % | N/A | 7.19 | % | 8.94 | % | 6.46 | % | 7.71 | % | ||||||||||||||||
Total risk-based capital | 8 | 10 | 12 | % | 10.78 | 11.04 | 9.81 | 9.82 | |||||||||||||||||||||
Tier 1 leverage ratio | 4 | 5 | 9 | 5.15 | 6.4 | 4.5 | 5.37 | ||||||||||||||||||||||
At September 30, 2013, PBI Bank’s Tier 1 leverage ratio was 6.40%, and its total risk-based capital ratio was 11.04%, both of which are below the minimum capital ratios required by the Consent Order. Failure to meet minimum capital requirements could result in additional discretionary actions by regulators that, if undertaken, could have a materially adverse effect on our financial condition. | |||||||||||||||||||||||||||||
Kentucky banking laws limit the amount of dividends that may be paid to a holding company by its subsidiary banks without prior approval. These laws limit the amount of dividends that may be paid in any calendar year to current year’s net income, as defined in the laws, combined with the retained net income of the preceding two years, less any dividends declared during those periods. PBI Bank has agreed with its primary regulators to obtain their written consent prior to declaring or paying any future dividends. As a practical matter, PBI Bank cannot pay dividends to Porter Bancorp for the foreseeable future. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Contingencies | ' |
Note 13 – Contingencies | |
In the normal course of operations, we are defendants in various legal proceedings. Litigation is subject to inherent uncertainties and unfavorable rulings could occur. We record contingent liabilities resulting from claims against us when a loss is assessed to be probable and the amount of the loss is reasonably estimable. Assessing probability of loss and estimating probable losses requires analysis of multiple factors, including in some cases judgments about the potential actions of third party claimants and courts. Recorded contingent liabilities are based on the best information available and actual losses in any future period are inherently uncertain. Currently, we have accrued approximately $1.8 million related to ongoing litigation matters for which we believe liability is probable and reasonably estimable. Accruals are not made in cases where liability is not probable or the amount cannot be reasonably estimated. We provide disclosure of matters where we believe liability is reasonably possible and which may be material to our consolidated financial statements. | |
Signature Point Litigation. As disclosed previously, on June 18, 2010, three real estate development companies filed suit in Kentucky state court against PBI Bank and Managed Assets of Kentucky (“MAKY”). Signature Point Condominiums LLC, et al. v. PBI Bank, et al., Jefferson Circuit Court, Case No 10-CI-04295. On July 16, 2013, a jury in Louisville, Kentucky returned a verdict against PBI Bank, awarding the plaintiffs compensatory damages of $1,515,000 and punitive damages of $5,500,000. The case arose from a settlement in which PBI Bank agreed to release the plaintiffs and guarantors from obligations of more than $26 million related to a real estate project in Louisville. The plaintiffs were granted a right of first refusal to repurchase a tract of land within the project. In exchange, the plaintiffs conveyed the real estate securing the loans to PBI Bank. After plaintiffs declined to exercise their right of first refusal, PBI Bank sold the tract to the third party. Plaintiffs alleged the Bank had knowledge of the third party offer before the conveyance of the land by the Plaintiffs to the Bank. Plaintiffs asserted claims of fraud, breach of fiduciary duty, breach of the duty of good faith and fair dealing, tortious interference with prospective business advantage and conspiracy to commit fraud, negligence, and conspiracy against PBI Bank. | |
After conferring with its legal advisors, PBI Bank believes the findings and damages are excessive and contrary to law, and that it has meritorious grounds on which it is moving forward to appeal. We will continue to defend this matter vigorously. Although we have made provisions in our condensed consolidated financial statements for this self-insured matter, the amount of our legal reserve is less than the original amount of the damages awarded, plus accrued interest. The ultimate outcome of this matter could have a material adverse effect on our financial condition, results of operations or cash flows. | |
SBAV LP Litigation. In 2010, the Company sold common shares, convertible preferred shares and warrants to purchase common shares to accredited investors for $32 million in a private placement. In the placement, SBAV LP, an affiliate of Clinton Group, Inc. (“CGI”) purchased common shares and warrants for $5,000,016. | |
On July 11, 2011, CGI sent a letter to the Company, which was also attached as an exhibit to a Schedule 13D CGI filed with the Securities and Exchange Commission on the same date. In its letter CGI questioned the Company’s executive leadership team’s ability to properly manage the Bank’s operations, compliance with GAAP, financial disclosures and relationships with regulators, referencing the consent order PBI Bank entered into with the Federal Deposit Insurance Corporation and the Commonwealth of Kentucky Department of Financial Institutions on June 24, 2011. CGI also stated its belief “that it is likely that a number of representations and warranties made when the CGI affiliate entered into an agreement to purchase shares were false,” and demanded that the Company take immediate steps to “redress such breaches and make CGI and the other purchasers whole.” | |
During the third quarter of 2011, the Company’s Risk Policy and Oversight Committee, comprised of independent directors, undertook an investigation of the allegations raised in the CGI 13D to evaluate their merit and to ascertain the reasonableness of the Bank’s allowance for loan losses and OREO valuations at the time of Clinton’s investment. The Oversight Committee reported its conclusions to the Company’s Board of Directors in October 2011. While recognizing that opportunities for procedural improvements existed in the Bank’s lending and non-performing asset administration, the Oversight Committee concluded that this did not rise to a level that would result in the financial statements, or representations and warranties with respect to the financial statements, being misleading to investors in the 2010 private placement offering of the Company’s stock. The Oversight Committee further concluded investors were afforded ample opportunity and access to information for their due diligence, including documentation involving asset valuation estimates, on-site management discussions and additional inquiries during visits to the Company headquarters, and access to loan files of their choosing and the appraisals contained therein, and the Company’s disclosures were adequate in all material respects. | |
On January 30, 2012, CGI delivered a demand to inspect the Company’s records pursuant to the Kentucky Business Corporation Act. The Company provided records to CGI in accordance with Kentucky law. | |
On December 17, 2012, SBAV LP filed a lawsuit against Porter Bancorp, PBI Bank, J. Chester Porter and Maria L. Bouvette in New York state court. The proceeding was removed to New York federal district court on January 16, 2013. SBAV LP v. Porter Bancorp, et. al., Civ. Action 1:13-CV-0372 (S.D.N.Y). The complaint alleges violation of the Kentucky Securities Act, negligent misrepresentation and, against defendants Porter Bancorp and Bouvette, breach of contract. The plaintiff seeks damages in an amount in excess of $4,500,000, or the difference between the $5,000,016 purchase price and the value of the securities when sold by the plaintiff, plus interest at the applicable statutory rate, costs and reasonable attorneys’ fees. On July 10, 2013, the New York federal district court granted the defendants’ motion to transfer the case to federal district court in Kentucky. SBAV LP v. Porter Bancorp, et. al., Civ. Action 3:13-CV-710 (W.D.Ky). We dispute the material factual allegations made in the complaint and intend to defend the plaintiff’s claims vigorously. We have not accrued liability related to this matter as we believe we have meritorious defenses. | |
Miller Health Systems Inc. Employee Stock Ownership Plan Regulatory Review. From 2007 until the first quarter of 2013, PBI Bank served as trustee for certain Employee Stock Ownership Plan (ESOP) purchase transactions. These transactions are subject to regular and routine reviews by the United States Department of Labor (DOL) for compliance with ERISA. Failure to fulfill our fiduciary duties under ERISA with respect to any such plan would subject us to certain financial risks such as claims for damages as well as fines and penalties assessable under ERISA. | |
In 2007, we served as Trustee in the Miller Health Systems, Inc. ESOP transaction. This transaction is under review by the United States Department of Labor (DOL) for compliance with ERISA. The DOL has alleged apparent violations of ERISA in this transaction. While there is no litigation at this time, the ultimate outcome of this matter could have a material adverse effect on our financial condition, results of operations or cash flows. We have not recorded accruals for this matter as we believe we fulfilled our fiduciary duties under ERISA and that liability is not probable nor can the amount be reasonably estimated. |
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation | ' |
Basis of Presentation – The consolidated financial statements include Porter Bancorp, Inc. (Company or PBI) and its subsidiary, PBI Bank (Bank). The Company owns a 100% interest in the Bank. All significant inter-company transactions and accounts have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the entire year. A description of other significant accounting policies is presented in the notes to the Consolidated Financial Statements for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K. | |
Use of Estimates | ' |
Use of Estimates – To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, fair values of financial instruments, stock compensation, deferred tax assets, other intangibles, and fair values of other real estate owned are particularly subject to change. | |
Reclassifications | ' |
Reclassifications – Some items in the prior year financial statements were reclassified to conform to the current presentation. The reclassifications did not impact net income or stockholders’ equity. |
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value of Available for Sale Securities and Related Gross Unrealized Gains and Losses | ' | ||||||||||||||||||||||||
The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U.S. Government and federal agency | $ | 29,184 | $ | 328 | $ | (1,599 | ) | $ | 27,913 | ||||||||||||||||
Agency mortgage-backed: residential | 85,583 | 519 | (1,529 | ) | 84,573 | ||||||||||||||||||||
State and municipal | 58,150 | 962 | (1,965 | ) | 57,147 | ||||||||||||||||||||
Corporate bonds | 23,123 | 915 | (473 | ) | 23,565 | ||||||||||||||||||||
Other | 572 | 34 | — | 606 | |||||||||||||||||||||
Total debt securities | 196,612 | 2,758 | (5,566 | ) | 193,804 | ||||||||||||||||||||
Equity | 135 | 42 | — | 177 | |||||||||||||||||||||
Total | $ | 196,747 | $ | 2,800 | $ | (5,566 | ) | $ | 193,981 | ||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
U.S. Government and federal agency | $ | 5,603 | $ | 530 | $ | — | $ | 6,133 | |||||||||||||||||
Agency mortgage-backed: residential | 94,298 | 1,141 | (257 | ) | 95,182 | ||||||||||||||||||||
State and municipal | 52,485 | 2,335 | (87 | ) | 54,733 | ||||||||||||||||||||
Corporate bonds | 18,851 | 1,150 | (37 | ) | 19,964 | ||||||||||||||||||||
Other | 572 | 46 | — | 618 | |||||||||||||||||||||
Total debt securities | 171,809 | 5,202 | (381 | ) | 176,630 | ||||||||||||||||||||
Equity | 1,359 | 487 | — | 1,846 | |||||||||||||||||||||
Total | $ | 173,168 | $ | 5,689 | $ | (381 | ) | $ | 178,476 | ||||||||||||||||
Sales and Calls of Available for Sale Securities | ' | ||||||||||||||||||||||||
Sales and calls of available for sale securities were as follows: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||
Proceeds | $ | 804 | $ | — | $ | 2,712 | $ | 65,695 | |||||||||||||||||
Gross gains | 24 | — | 728 | 3,530 | |||||||||||||||||||||
Gross losses | — | — | 1 | — | |||||||||||||||||||||
Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity | ' | ||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Maturity | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
Within one year | $ | 17,229 | $ | 16,810 | |||||||||||||||||||||
One to five years | 15,513 | 16,690 | |||||||||||||||||||||||
Five to ten years | 69,908 | 67,557 | |||||||||||||||||||||||
Beyond ten years | 8,379 | 8,174 | |||||||||||||||||||||||
Agency mortgage-backed: residential | 85,583 | 84,573 | |||||||||||||||||||||||
Total | $ | 196,612 | $ | 193,804 | |||||||||||||||||||||
Securities with Unrealized Losses | ' | ||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, are as follows: | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
U.S Government & federal agency | $ | 22,104 | $ | (1,599 | ) | $ | — | $ | — | $ | 22,104 | $ | (1,599 | ) | |||||||||||
Agency mortgage-backed: residential | 43,799 | (1,195 | ) | 7,864 | (334 | ) | 51,663 | (1,529 | ) | ||||||||||||||||
State and municipal | 34,048 | (1,897 | ) | 1,068 | (68 | ) | 35,116 | (1,965 | ) | ||||||||||||||||
Corporate bonds | 12,822 | (473 | ) | — | — | 12,822 | (473 | ) | |||||||||||||||||
Total temporarily impaired | $ | 112,773 | $ | (5,164 | ) | $ | 8,932 | $ | (402 | ) | $ | 121,705 | $ | (5,566 | ) | ||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Agency mortgage-backed: residential | $ | 23,375 | $ | (257 | ) | $ | — | $ | — | $ | 23,375 | $ | (257 | ) | |||||||||||
State and municipal | 7,961 | (87 | ) | — | — | 7,961 | (87 | ) | |||||||||||||||||
Corporate bonds | 3,777 | (37 | ) | — | — | 3,777 | (37 | ) | |||||||||||||||||
Equity | 2 | — | — | — | 2 | — | |||||||||||||||||||
Total temporarily impaired | $ | 35,115 | $ | (381 | ) | $ | — | $ | — | $ | 35,115 | $ | (381 | ) | |||||||||||
Loans_Tables
Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Loans were as follows: | |||||||||||||||||||||||||||||||||
Commercial | $ | 51,572 | $ | 52,567 | |||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 51,994 | 70,284 | |||||||||||||||||||||||||||||||
Farmland | 73,159 | 80,825 | |||||||||||||||||||||||||||||||
Nonfarm nonresidential | 236,579 | 322,687 | |||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 46,052 | 50,986 | |||||||||||||||||||||||||||||||
1-4 Family | 234,759 | 278,273 | |||||||||||||||||||||||||||||||
Consumer | 15,709 | 20,383 | |||||||||||||||||||||||||||||||
Agriculture | 23,669 | 22,317 | |||||||||||||||||||||||||||||||
Other | 747 | 770 | |||||||||||||||||||||||||||||||
Subtotal | 734,240 | 899,092 | |||||||||||||||||||||||||||||||
Less: Allowance for loan losses | (31,754 | ) | (56,680 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 702,486 | $ | 842,412 | |||||||||||||||||||||||||||||
Activity in Allowance for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,648 | $ | 21,022 | $ | 10,790 | $ | 594 | $ | 487 | $ | 18 | $ | 37,559 | |||||||||||||||||||
Provision for loan losses | (539 | ) | 196 | 612 | 61 | (67 | ) | (13 | ) | 250 | |||||||||||||||||||||||
Loans charged off | (965 | ) | (4,726 | ) | (1,272 | ) | (99 | ) | (9 | ) | — | (7,071 | ) | ||||||||||||||||||||
Recoveries | 443 | 456 | 63 | 44 | 10 | — | 1,016 | ||||||||||||||||||||||||||
Ending balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,811 | $ | 31,049 | $ | 15,587 | $ | 792 | $ | 343 | $ | 12 | $ | 51,594 | |||||||||||||||||||
Provision for loan losses | 2,630 | 17,412 | 4,326 | 366 | 763 | 3 | 25,500 | ||||||||||||||||||||||||||
Loans charged off | (2,400 | ) | (16,192 | ) | (3,824 | ) | (375 | ) | (696 | ) | — | (23,487 | ) | ||||||||||||||||||||
Recoveries | 27 | 324 | 16 | 24 | 21 | — | 412 | ||||||||||||||||||||||||||
Ending balance | $ | 4,068 | $ | 32,593 | $ | 16,105 | $ | 807 | $ | 431 | $ | 15 | $ | 54,019 | |||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,402 | $ | 34,768 | $ | 16,235 | $ | 857 | $ | 403 | $ | 15 | $ | 56,680 | |||||||||||||||||||
Provision for loan losses | 94 | 72 | 522 | 140 | (118 | ) | (10 | ) | 700 | ||||||||||||||||||||||||
Loans charged off | (2,073 | ) | (18,904 | ) | (6,748 | ) | (620 | ) | (92 | ) | — | (28,437 | ) | ||||||||||||||||||||
Recoveries | 1,164 | 1,012 | 184 | 223 | 228 | — | 2,811 | ||||||||||||||||||||||||||
Ending balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
September 30, 2012: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,207 | $ | 33,024 | $ | 14,217 | $ | 792 | $ | 325 | $ | 14 | $ | 52,579 | |||||||||||||||||||
Provision for loan losses | 2,641 | 19,187 | 9,528 | 687 | 1,206 | 1 | 33,250 | ||||||||||||||||||||||||||
Loans charged off | (2,866 | ) | (20,055 | ) | (7,715 | ) | (747 | ) | (1,124 | ) | — | (32,507 | ) | ||||||||||||||||||||
Recoveries | 86 | 437 | 75 | 75 | 24 | — | 697 | ||||||||||||||||||||||||||
Ending balance | $ | 4,068 | $ | 32,593 | $ | 16,105 | $ | 807 | $ | 431 | $ | 15 | $ | 54,019 | |||||||||||||||||||
Balance in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method | ' | ||||||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2013: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 381 | $ | 3,267 | $ | 1,046 | $ | 68 | $ | — | $ | — | $ | 4,762 | |||||||||||||||||||
Collectively evaluated for impairment | 3,206 | 13,681 | 9,147 | 532 | 421 | 5 | 26,992 | ||||||||||||||||||||||||||
Total ending allowance balance | $ | 3,587 | $ | 16,948 | $ | 10,193 | $ | 600 | $ | 421 | $ | 5 | $ | 31,754 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,226 | $ | 99,437 | $ | 49,741 | $ | 148 | $ | 332 | $ | 533 | $ | 155,417 | |||||||||||||||||||
Loans collectively evaluated for impairment | 46,346 | 262,295 | 231,070 | 15,561 | 23,337 | 214 | 578,823 | ||||||||||||||||||||||||||
Total ending loans balance | $ | 51,572 | $ | 361,732 | $ | 280,811 | $ | 15,709 | $ | 23,669 | $ | 747 | $ | 734,240 | |||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of December 31, 2012: | |||||||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Consumer | Agriculture | Other | Total | |||||||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 263 | $ | 16,046 | $ | 4,641 | $ | 68 | $ | 5 | $ | 11 | $ | 21,034 | |||||||||||||||||||
Collectively evaluated for impairment | 4,139 | 18,722 | 11,594 | 789 | 398 | 4 | 35,646 | ||||||||||||||||||||||||||
Total ending allowance balance | $ | 4,402 | $ | 34,768 | $ | 16,235 | $ | 857 | $ | 403 | $ | 15 | $ | 56,680 | |||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,296 | $ | 125,922 | $ | 56,799 | $ | 212 | $ | 55 | $ | 524 | $ | 188,808 | |||||||||||||||||||
Loans collectively evaluated for impairment | 47,271 | 347,874 | 272,460 | 20,171 | 22,262 | 246 | 710,284 | ||||||||||||||||||||||||||
Total ending loans balance | $ | 52,567 | $ | 473,796 | $ | 329,259 | $ | 20,383 | $ | 22,317 | $ | 770 | $ | 899,092 | |||||||||||||||||||
Loans Individually Evaluated for Impairment by Class of Loans | ' | ||||||||||||||||||||||||||||||||
The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Average | Interest | Average | Interest | Cash Basis | ||||||||||||||||||||||||||
Principal | Investment | For Loan | Recorded | Income | Recorded | Income | Income | ||||||||||||||||||||||||||
Balance | Losses | Investment | Recognized | Investment | Recognized | Recognized | |||||||||||||||||||||||||||
Allocated | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,853 | $ | 1,556 | $ | — | $ | 1,727 | $ | 30 | $ | 1,644 | $ | 30 | $ | 30 | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 311 | 195 | — | 193 | 153 | 574 | 164 | 164 | |||||||||||||||||||||||||
Farmland | 4,641 | 4,575 | — | 4,439 | 5 | 4,349 | 177 | 177 | |||||||||||||||||||||||||
Nonfarm nonresidential | 2,209 | 1,980 | — | 1,753 | 109 | 1,803 | 366 | 366 | |||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 447 | 395 | — | 516 | — | 579 | — | — | |||||||||||||||||||||||||
1-4 Family | 10,953 | 10,078 | — | 10,538 | 33 | 11,896 | 90 | 90 | |||||||||||||||||||||||||
Consumer | 14 | 14 | — | 8 | — | 25 | — | — | |||||||||||||||||||||||||
Agriculture | 410 | 332 | — | 266 | — | 186 | — | — | |||||||||||||||||||||||||
Other | 18 | 18 | — | 18 | — | 9 | — | — | |||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | 3,776 | 3,670 | 381 | 4,110 | 19 | 4,016 | 80 | — | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 20,462 | 19,316 | 388 | 20,831 | 10 | 22,900 | 78 | — | |||||||||||||||||||||||||
Farmland | 8,000 | 5,606 | 194 | 5,575 | 11 | 5,914 | 33 | — | |||||||||||||||||||||||||
Nonfarm nonresidential | 83,138 | 67,765 | 2,685 | 74,620 | 327 | 78,285 | 1,009 | — | |||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 14,199 | 12,490 | 395 | 12,713 | 51 | 13,372 | 158 | — | |||||||||||||||||||||||||
1-4 Family | 28,795 | 26,778 | 651 | 27,283 | 140 | 27,963 | 358 | — | |||||||||||||||||||||||||
Consumer | 202 | 134 | 68 | 122 | 1 | 146 | 2 | — | |||||||||||||||||||||||||
Agriculture | — | — | — | — | — | 3 | — | — | |||||||||||||||||||||||||
Other | 514 | 515 | — | 516 | 5 | 520 | 13 | — | |||||||||||||||||||||||||
Total | $ | 179,942 | $ | 155,417 | $ | 4,762 | $ | 165,228 | $ | 894 | $ | 174,184 | $ | 2,558 | $ | 827 | |||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loan as of December 31, 2012: | |||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Average | Interest | Cash | ||||||||||||||||||||||||||||
Principal | Investment | For Loan | Recorded | Income | Basis | ||||||||||||||||||||||||||||
Balance | Losses | Investment | Recognized | Income | |||||||||||||||||||||||||||||
Allocated | Recognized | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,460 | $ | 1,234 | $ | — | $ | 1,637 | $ | 5 | $ | 4 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 1,155 | 1,109 | — | 1,745 | 2 | 2 | |||||||||||||||||||||||||||
Farmland | 4,448 | 4,448 | — | 4,706 | 57 | 57 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 2,134 | 1,892 | — | 3,436 | 3 | 3 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 643 | 643 | — | 910 | — | — | |||||||||||||||||||||||||||
1-4 Family | 13,539 | 13,158 | — | 11,291 | 56 | 56 | |||||||||||||||||||||||||||
Consumer | 70 | 70 | — | 219 | 8 | 5 | |||||||||||||||||||||||||||
Agriculture | 45 | 45 | — | 366 | 2 | — | |||||||||||||||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||
Commercial | 4,108 | 4,062 | 263 | 3,964 | 169 | 27 | |||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||
Construction | 26,645 | 25,455 | 1,543 | 19,514 | 348 | 5 | |||||||||||||||||||||||||||
Farmland | 8,557 | 6,456 | 734 | 5,794 | 43 | 2 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 97,699 | 86,562 | 13,769 | 83,087 | 2,011 | 185 | |||||||||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||||||||||
Multi-family | 14,906 | 14,906 | 1,643 | 11,187 | 468 | — | |||||||||||||||||||||||||||
1-4 Family | 31,021 | 28,092 | 2,998 | 27,404 | 787 | 9 | |||||||||||||||||||||||||||
Consumer | 142 | 142 | 68 | 29 | — | — | |||||||||||||||||||||||||||
Agriculture | 10 | 10 | 5 | 6 | — | — | |||||||||||||||||||||||||||
Other | 524 | 524 | 11 | 533 | 17 | — | |||||||||||||||||||||||||||
Total | $ | 207,106 | $ | 188,808 | $ | 21,034 | $ | 175,828 | $ | 3,976 | $ | 355 | |||||||||||||||||||||
Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment Outstanding | ' | ||||||||||||||||||||||||||||||||
The following table presents the types of TDR loan modifications by portfolio segment outstanding as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 1,957 | $ | — | $ | 1,957 | |||||||||||||||||||||||||||
Principal deferral | — | 875 | 875 | ||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | 277 | 6,362 | 6,639 | ||||||||||||||||||||||||||||||
Principal deferral | 499 | — | 499 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Principal deferral | 701 | 2,438 | 3,139 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 23,511 | 21,678 | 45,189 | ||||||||||||||||||||||||||||||
Interest only payments | 2,448 | 1,489 | 3,937 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 4,385 | 6,728 | 11,113 | ||||||||||||||||||||||||||||||
Interest only payments | 644 | — | 644 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 8,805 | 9,685 | 18,490 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 77 | — | 77 | ||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Rate reduction | 514 | — | 514 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 43,968 | $ | 49,255 | $ | 93,223 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 1,972 | $ | — | $ | 1,972 | |||||||||||||||||||||||||||
Principal deferral | 887 | — | 887 | ||||||||||||||||||||||||||||||
Interest only payments | — | 958 | 958 | ||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | 4,834 | 4,459 | 9,293 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Principal deferral | 725 | 2,438 | 3,163 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 36,515 | 22,631 | 59,146 | ||||||||||||||||||||||||||||||
Principal deferral | 1,195 | — | 1,195 | ||||||||||||||||||||||||||||||
Interest only payments | 2,466 | 2,107 | 4,573 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 13,087 | — | 13,087 | ||||||||||||||||||||||||||||||
Interest only payments | 652 | — | 652 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 14,323 | 7,871 | 22,194 | ||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 14 | — | 14 | ||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Rate reduction | 524 | — | 524 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 77,344 | $ | 40,464 | $ | 117,808 | |||||||||||||||||||||||||||
The following tables present a summary of the types of TDR loan modifications by portfolio type that occurred during the three months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 363 | $ | — | $ | 363 | |||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Rate reduction | 26 | — | 26 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 389 | $ | — | $ | 389 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 150 | $ | — | $ | 150 | |||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 5,549 | — | 5,549 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 5,699 | $ | — | $ | 5,699 | |||||||||||||||||||||||||||
The following tables present a summary of the types of TDR loan modifications by portfolio type that occurred during the nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Rate reduction | $ | 39 | $ | — | $ | 39 | |||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | — | 1,291 | 1,291 | ||||||||||||||||||||||||||||||
Principal deferral | 499 | — | 499 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 388 | — | 388 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 1,254 | — | 1,254 | ||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||
Rate reduction | 64 | — | 64 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 2,244 | $ | 1,291 | $ | 3,535 | |||||||||||||||||||||||||||
TDRs | TDRs Not | Total | |||||||||||||||||||||||||||||||
Performing to | Performing to | TDRs | |||||||||||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||
Interest only payments | $ | — | $ | 1,019 | $ | 1,019 | |||||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||
Rate reduction | — | 849 | 849 | ||||||||||||||||||||||||||||||
Farmland | |||||||||||||||||||||||||||||||||
Rate reduction | 150 | — | 150 | ||||||||||||||||||||||||||||||
Nonfarm nonresidential | |||||||||||||||||||||||||||||||||
Rate reduction | 16,700 | — | 16,700 | ||||||||||||||||||||||||||||||
Principal deferral | 1,196 | — | 1,196 | ||||||||||||||||||||||||||||||
Interest only payments | 2,467 | 2,174 | 4,641 | ||||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||
Rate reduction | 12,848 | 31 | 12,879 | ||||||||||||||||||||||||||||||
1-4 Family | |||||||||||||||||||||||||||||||||
Rate reduction | 7,440 | — | 7,440 | ||||||||||||||||||||||||||||||
Principal deferral | — | 384 | 384 | ||||||||||||||||||||||||||||||
Total TDRs | $ | 40,801 | $ | 4,457 | $ | 45,258 | |||||||||||||||||||||||||||
Nonperforming loans | ' | ||||||||||||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual and loans past due 90 days and still on accrual by class of loan as of September 30, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||||||
Nonaccrual | Loans Past | ||||||||||||||||||||||||||||||||
Due 90 Days | |||||||||||||||||||||||||||||||||
And Over Still | |||||||||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Commercial | $ | 3,084 | $ | 2,437 | $ | — | $ | 36 | |||||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 18,734 | 7,808 | — | — | |||||||||||||||||||||||||||||
Farmland | 9,187 | 10,030 | — | — | |||||||||||||||||||||||||||||
Nonfarm nonresidential | 40,394 | 46,036 | — | — | |||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 7,647 | 1,516 | — | — | |||||||||||||||||||||||||||||
1-4 Family | 27,455 | 26,501 | — | 50 | |||||||||||||||||||||||||||||
Consumer | 71 | 135 | — | — | |||||||||||||||||||||||||||||
Agriculture | 332 | 54 | — | — | |||||||||||||||||||||||||||||
Other | 18 | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 106,922 | $ | 94,517 | $ | — | $ | 86 | |||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||
30 – 59 | 60 – 89 | 90 Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
Days | Days | And Over | Past Due | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | And | ||||||||||||||||||||||||||||||
Nonaccrual | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | $ | 4,290 | $ | 174 | $ | — | $ | 3,084 | $ | 7,548 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | — | — | — | 18,734 | 18,734 | ||||||||||||||||||||||||||||
Farmland | 289 | 97 | — | 9,187 | 9,573 | ||||||||||||||||||||||||||||
Nonfarm nonresidential | 771 | 5,968 | — | 40,394 | 47,133 | ||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 1,185 | — | — | 7,647 | 8,832 | ||||||||||||||||||||||||||||
1-4 Family | 3,267 | 1,219 | — | 27,455 | 31,941 | ||||||||||||||||||||||||||||
Consumer | 198 | 35 | — | 71 | 304 | ||||||||||||||||||||||||||||
Agriculture | 18 | 89 | — | 332 | 439 | ||||||||||||||||||||||||||||
Other | — | — | — | 18 | 18 | ||||||||||||||||||||||||||||
Total | $ | 10,018 | $ | 7,582 | $ | — | $ | 106,922 | $ | 124,522 | |||||||||||||||||||||||
30 – 59 | 60 – 89 | 90 Days | Nonaccrual | Total | |||||||||||||||||||||||||||||
Days | Days | And Over | Past Due | ||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | And | ||||||||||||||||||||||||||||||
Nonaccrual | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | $ | 1,279 | $ | 90 | $ | 36 | $ | 2,437 | $ | 3,842 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 10,510 | 5,815 | — | 7,808 | 24,133 | ||||||||||||||||||||||||||||
Farmland | 922 | 58 | — | 10,030 | 11,010 | ||||||||||||||||||||||||||||
Nonfarm non residential | 5,138 | 13,037 | — | 46,036 | 64,211 | ||||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 8,762 | — | — | 1,516 | 10,278 | ||||||||||||||||||||||||||||
1-4 Family | 11,145 | 1,221 | 50 | 26,501 | 38,917 | ||||||||||||||||||||||||||||
Consumer | 310 | 75 | — | 135 | 520 | ||||||||||||||||||||||||||||
Agriculture | 153 | 7 | — | 54 | 214 | ||||||||||||||||||||||||||||
Other | — | — | — | — | — | ||||||||||||||||||||||||||||
Total | $ | 38,219 | $ | 20,303 | $ | 86 | $ | 94,517 | $ | 153,125 | |||||||||||||||||||||||
Risk Category of Loans by Class of Loans | ' | ||||||||||||||||||||||||||||||||
As of September 30, 2013, and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||||||
Pass | Watch | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Commercial | $ | 33,519 | $ | 8,203 | $ | 706 | $ | 9,100 | $ | 44 | $ | 51,572 | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 17,072 | 11,404 | 2,248 | 21,270 | — | 51,994 | |||||||||||||||||||||||||||
Farmland | 45,172 | 11,568 | 879 | 15,540 | — | 73,159 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 87,574 | 62,363 | 2,982 | 83,414 | 246 | 236,579 | |||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 15,230 | 15,397 | — | 15,425 | — | 46,052 | |||||||||||||||||||||||||||
1-4 Family | 131,240 | 46,734 | 2,428 | 54,357 | — | 234,759 | |||||||||||||||||||||||||||
Consumer | 13,845 | 1,079 | 6 | 779 | — | 15,709 | |||||||||||||||||||||||||||
Agriculture | 20,853 | 2,125 | — | 691 | — | 23,669 | |||||||||||||||||||||||||||
Other | 215 | 514 | — | 18 | — | 747 | |||||||||||||||||||||||||||
Total | $ | 364,720 | $ | 159,387 | $ | 9,249 | $ | 200,594 | $ | 290 | $ | 734,240 | |||||||||||||||||||||
Pass | Watch | Special | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Commercial | $ | 27,085 | $ | 10,153 | $ | 6,495 | $ | 8,772 | $ | 62 | $ | 52,567 | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||||||
Construction | 26,085 | 21,713 | 3,647 | 18,839 | — | 70,284 | |||||||||||||||||||||||||||
Farmland | 47,017 | 13,461 | 3,532 | 16,815 | — | 80,825 | |||||||||||||||||||||||||||
Nonfarm nonresidential | 122,603 | 66,223 | 14,955 | 118,635 | 271 | 322,687 | |||||||||||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||||||||||
Multi-family | 18,387 | 14,637 | — | 17,962 | — | 50,986 | |||||||||||||||||||||||||||
1-4 Family | 159,975 | 47,030 | 5,167 | 66,101 | — | 278,273 | |||||||||||||||||||||||||||
Consumer | 17,232 | 2,211 | 35 | 842 | 63 | 20,383 | |||||||||||||||||||||||||||
Agriculture | 19,256 | 1,467 | 869 | 725 | — | 22,317 | |||||||||||||||||||||||||||
Other | 246 | 524 | — | — | — | 770 | |||||||||||||||||||||||||||
Total | $ | 437,886 | $ | 177,419 | $ | 34,700 | $ | 248,691 | $ | 396 | $ | 899,092 | |||||||||||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Major Categories of Other Real Estate Owned | ' | ||||||||||||||||
The following table presents the major categories of OREO at the period-ends indicated: | |||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in thousands) | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Construction | $ | 20,546 | $ | 22,912 | |||||||||||||
Farmland | 545 | 618 | |||||||||||||||
Other | 14,410 | 15,577 | |||||||||||||||
Residential Real Estate: | |||||||||||||||||
Multi-family | 517 | 200 | |||||||||||||||
1-4 Family | 6,436 | 5,518 | |||||||||||||||
42,454 | 44,825 | ||||||||||||||||
Valuation allowance | (597 | ) | (1,154 | ) | |||||||||||||
$ | 41,857 | $ | 43,671 | ||||||||||||||
Other Real Estate Owned Valuation Allowance Activity | ' | ||||||||||||||||
For the Three | For the Nine | ||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
OREO Valuation Allowance Activity: | |||||||||||||||||
Beginning balance | $ | 747 | $ | 1,724 | $ | 1,154 | $ | 1,667 | |||||||||
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 | |||||||||||||
Write-downs | (450 | ) | (4,189 | ) | (2,141 | ) | (4,962 | ) | |||||||||
Ending balance | $ | 597 | $ | 1,795 | $ | 597 | $ | 1,795 | |||||||||
Net activity relating to other real estate owned during the nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
(in thousands) | |||||||||||||||||
OREO Activity | |||||||||||||||||
OREO as of January 1 | $ | 43,671 | $ | 41,449 | |||||||||||||
Real estate acquired | 18,542 | 31,531 | |||||||||||||||
Valuation adjustments for declining market values | (1,584 | ) | (5,090 | ) | |||||||||||||
Improvements | — | 1 | |||||||||||||||
Loss on sale | (190 | ) | (1,481 | ) | |||||||||||||
Proceeds from sale of properties | (18,582 | ) | (17,573 | ) | |||||||||||||
OREO as of September 30 | $ | 41,857 | $ | 48,837 | |||||||||||||
Expenses Related to Other Real Estate Owned | ' | ||||||||||||||||
Expenses related to other real estate owned include: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||
Net loss (gain) on sales | $ | (169 | ) | $ | 533 | $ | 190 | $ | 1,481 | ||||||||
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 | |||||||||||||
Operating expense | 538 | 411 | 1,343 | 1,095 | |||||||||||||
Total | $ | 669 | $ | 5,204 | $ | 3,117 | $ | 7,666 | |||||||||
Deposits_Tables
Deposits (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Scheduled of Deposits by Category | ' | ||||||||
The following table shows deposits by category: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Non-interest bearing | $ | 101,191 | $ | 114,310 | |||||
Interest checking | 71,851 | 87,234 | |||||||
Money market | 77,292 | 63,715 | |||||||
Savings | 37,622 | 39,227 | |||||||
Certificates of deposit | 658,940 | 760,573 | |||||||
Total | $ | 946,896 | $ | 1,065,059 | |||||
Scheduled Maturities of Total Time Deposits | ' | ||||||||
Scheduled maturities of total time deposits at September 30, 2013 are as follows (in thousands): | |||||||||
Year 1 | $ | 378,763 | |||||||
Year 2 | 236,022 | ||||||||
Year 3 | 25,836 | ||||||||
Year 4 | 10,350 | ||||||||
Year 5 | 7,930 | ||||||||
Thereafter | 39 | ||||||||
$ | 658,940 | ||||||||
Advances_from_the_Federal_Home1
Advances from the Federal Home Loan Bank (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Advances from Federal Home Loan Bank | ' | ||||||||
Advances from the Federal Home Loan Bank were as follows: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2013 through 2033, averaging 3.13% for 2013 | $ | 4,741 | $ | 5,604 | |||||
Fair_Values_Measurement_Tables
Fair Values Measurement (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Financial Assets Measured at Fair Value on Recurring and Non-recurring Basis | ' | ||||||||||||||||||||
Financial assets measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012 are summarized below: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Government and federal agency | $ | 27,913 | $ | — | $ | 27,913 | $ | — | |||||||||||||
Agency mortgage-backed: residential | 84,573 | — | 84,573 | — | |||||||||||||||||
State and municipal | 57,147 | — | 57,147 | — | |||||||||||||||||
Corporate bonds | 23,565 | — | 23,565 | — | |||||||||||||||||
Other debt securities | 606 | — | — | 606 | |||||||||||||||||
Equity securities | 177 | 177 | — | — | |||||||||||||||||
Total | $ | 193,981 | $ | 177 | $ | 193,198 | $ | 606 | |||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable | Unobservable | ||||||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Available-for-sale securities | |||||||||||||||||||||
U.S. Government and federal agency | $ | 6,133 | $ | — | $ | 6,133 | $ | — | |||||||||||||
Agency mortgage-backed: residential | 95,182 | — | 95,182 | — | |||||||||||||||||
State and municipal | 54,733 | — | 54,733 | — | |||||||||||||||||
Corporate bonds | 19,964 | — | 19,964 | — | |||||||||||||||||
Other debt securities | 618 | — | — | 618 | |||||||||||||||||
Equity securities | 1,846 | 1,846 | — | — | |||||||||||||||||
Total | $ | 178,476 | $ | 1,846 | $ | 176,012 | $ | 618 | |||||||||||||
Financial assets measured at fair value on a non-recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 3,289 | $ | — | $ | — | $ | 3,289 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 18,928 | — | — | 18,928 | |||||||||||||||||
Farmland | 5,412 | — | — | 5,412 | |||||||||||||||||
Other | 65,080 | — | — | 65,080 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 12,095 | — | — | 12,095 | |||||||||||||||||
1-4 Family | 26,127 | — | — | 26,127 | |||||||||||||||||
Consumer | 66 | — | — | 66 | |||||||||||||||||
Other | 515 | — | — | 515 | |||||||||||||||||
Other real estate owned, net: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 20,257 | — | — | 20,257 | |||||||||||||||||
Farmland | 537 | — | — | 537 | |||||||||||||||||
Other | 14,208 | — | — | 14,208 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 509 | — | — | 509 | |||||||||||||||||
1-4 Family | 6,346 | — | — | 6,346 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Carrying | Quoted Prices In | Significant Other | Significant | |||||||||||||||||
Value | Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial | $ | 3,799 | $ | — | $ | — | $ | 3,799 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 23,912 | — | — | 23,912 | |||||||||||||||||
Farmland | 5,722 | — | — | 5,722 | |||||||||||||||||
Other | 72,793 | — | — | 72,793 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 13,263 | — | — | 13,263 | |||||||||||||||||
1-4 Family | 25,094 | — | — | 25,094 | |||||||||||||||||
Consumer | 74 | — | — | 74 | |||||||||||||||||
Agriculture | 5 | — | — | 5 | |||||||||||||||||
Other | 513 | — | — | 513 | |||||||||||||||||
Other real estate owned, net: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 22,323 | — | — | 22,323 | |||||||||||||||||
Farmland | 602 | — | — | 602 | |||||||||||||||||
Other | 15,175 | — | — | 15,175 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||
Multi-family | 195 | — | — | 195 | |||||||||||||||||
1-4 Family | 5,376 | — | — | 5,376 | |||||||||||||||||
Reconciliation of all Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level 3 | ' | ||||||||||||||||||||
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2013 and 2012: | |||||||||||||||||||||
State and Municipal | Other Debt | ||||||||||||||||||||
Securities | Securities | ||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Balances of recurring Level 3 assets at January 1 | $ | — | $ | 1,173 | $ | 618 | $ | 606 | |||||||||||||
Total gain (loss) for the period: | |||||||||||||||||||||
Included in other comprehensive income (loss) | — | — | (12 | ) | (11 | ) | |||||||||||||||
Sales | — | (1,173 | ) | — | — | ||||||||||||||||
Balance of recurring Level 3 assets at September 30 | $ | — | $ | — | $ | 606 | $ | 595 | |||||||||||||
Qualitative Information About Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||
The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2013: | |||||||||||||||||||||
Fair Value | Valuation | Unobservable Input(s) | Range (Weighted | ||||||||||||||||||
Technique(s) | Average) | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Impaired loans – Commercial | $ | 3,289 | Market value approach | Adjustment for receivables and inventory discounts | 16% -32%(24%) | ||||||||||||||||
Impaired loans – Commercial real estate | $ | 89,420 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 69%(20%) | ||||||||||||||||
Impaired loans – Residential real estate | $ | 38,222 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 50%(15%) | ||||||||||||||||
Other real estate owned – Commercial real estate | $ | 35,002 | Sales comparison approach | Adjustment for differences between the comparable sales | 3% - 51%(21%) | ||||||||||||||||
Income approach | Discount or capitalization rate | 7% - 16%(11%) | |||||||||||||||||||
Other real estate owned – Residential real estate | $ | 6,855 | Sales comparison approach | Adjustment for differences between the comparable sales | 4% - 34%(12%) | ||||||||||||||||
The following table presents qualitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2012: | |||||||||||||||||||||
Fair Value | Valuation | Unobservable Input(s) | Range (Weighted | ||||||||||||||||||
Technique(s) | Average) | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Impaired loans – Commercial | $ | 3,799 | Market value approach | Adjustment for receivables and inventory discounts | 16% -32%(24%) | ||||||||||||||||
Impaired loans – Commercial real estate | $ | 89,461 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 69%(19%) | ||||||||||||||||
Impaired loans – Residential real estate | $ | 38,357 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 38%(15%) | ||||||||||||||||
Other real estate owned – Commercial real estate | $ | 38,100 | Sales comparison approach | Adjustment for differences between the comparable sales | 3% - 50%(18%) | ||||||||||||||||
Income approach | Discount or capitalization rate | 9% - 16%(12%) | |||||||||||||||||||
Other real estate owned – Residential real estate | $ | 5,571 | Sales comparison approach | Adjustment for differences between the comparable sales | 0% - 30%(9%) | ||||||||||||||||
Carrying Amount and Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
Carrying amount and estimated fair values of financial instruments were as follows for the periods indicated: | |||||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 53,433 | $ | 44,674 | $ | 8,759 | $ | — | $ | 53,433 | |||||||||||
Securities available for sale | 193,981 | 177 | 193,198 | 606 | 193,981 | ||||||||||||||||
Federal Home Loan Bank stock | 10,072 | N/A | N/A | N/A | N/A | ||||||||||||||||
Mortgage loans held for sale | 123 | — | 123 | — | 123 | ||||||||||||||||
Loans, net | 702,486 | — | — | 719,094 | 719,094 | ||||||||||||||||
Accrued interest receivable | 3,964 | — | 1,198 | 2,766 | 3,964 | ||||||||||||||||
Financial liabilities | |||||||||||||||||||||
Deposits | $ | 946,896 | $ | 98,885 | $ | 848,738 | $ | — | $ | 947,623 | |||||||||||
Securities sold under agreements to repurchase | 3,722 | — | 3,722 | — | 3,722 | ||||||||||||||||
Federal Home Loan Bank advances | 4,741 | — | 4,743 | — | 4,743 | ||||||||||||||||
Subordinated capital notes | 6,075 | — | — | 5,789 | 5,789 | ||||||||||||||||
Junior subordinated debentures | 25,000 | — | — | 13,550 | 13,550 | ||||||||||||||||
Accrued interest payable | 2,375 | — | 1,037 | 1,338 | 2,375 | ||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Amount | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 49,572 | $ | 41,938 | $ | 7,634 | $ | — | $ | 49,572 | |||||||||||
Securities available for sale | 178,476 | 1,846 | 176,012 | 618 | 178,476 | ||||||||||||||||
Federal Home Loan Bank stock | 10,072 | N/A | N/A | N/A | N/A | ||||||||||||||||
Mortgage loans held for sale | 507 | — | 507 | — | 507 | ||||||||||||||||
Loans, net | 842,412 | — | — | 853,996 | 853,996 | ||||||||||||||||
Accrued interest receivable | 5,138 | — | 1,150 | 3,988 | 5,138 | ||||||||||||||||
Financial liabilities | |||||||||||||||||||||
Deposits | $ | 1,065,059 | $ | 114,310 | $ | 955,216 | $ | — | $ | 1,069,526 | |||||||||||
Securities sold under agreements to repurchase | 2,634 | — | 2,634 | — | 2,634 | ||||||||||||||||
Federal Home Loan Bank advances | 5,604 | — | 5,607 | — | 5,607 | ||||||||||||||||
Subordinated capital notes | 6,975 | — | — | 6,599 | 6,599 | ||||||||||||||||
Junior subordinated debentures | 25,000 | — | — | 13,821 | 13,821 | ||||||||||||||||
Accrued interest payable | 2,104 | — | 1,173 | 931 | 2,104 |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Deferred Tax Assets and Liabilities | ' | ||||||||
Deferred tax assets and liabilities were due to the following as of: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Deferred tax assets: | |||||||||
Net operating loss carry-forward | $ | 25,993 | $ | 15,051 | |||||
Allowance for loan losses | 11,114 | 19,838 | |||||||
Other real estate owned write-down | 9,854 | 10,408 | |||||||
Alternative minimum tax credit carry-forward | 692 | 692 | |||||||
Net assets from acquisitions | 635 | 592 | |||||||
Other than temporary impairment on securities | 374 | 374 | |||||||
Net unrealized loss on securities available for sale | 968 | — | |||||||
New market tax credit carry-forward | 208 | 208 | |||||||
Amortization of non-compete agreements | 17 | 19 | |||||||
Other | 981 | 936 | |||||||
50,836 | 48,118 | ||||||||
Deferred tax liabilities: | |||||||||
FHLB stock dividends | 1,276 | 1,276 | |||||||
Fixed assets | 322 | 409 | |||||||
Originated mortgage servicing rights | 81 | 98 | |||||||
Net unrealized gain on securities available for sale | — | 1,858 | |||||||
Other | 498 | 549 | |||||||
2,177 | 4,190 | ||||||||
Net deferred tax assets before valuation allowance | 48,659 | 43,928 | |||||||
Valuation allowance | (48,659 | ) | (43,928 | ) | |||||
Net deferred tax asset | $ | — | $ | — | |||||
Stock_Plans_and_Stock_Based_Co1
Stock Plans and Stock Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Summary of Unvested Share Activity | ' | ||||||||||||||||
The following table summarizes unvested share activity as of and for the periods indicated for the Stock Incentive Plan: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | 153,316 | $ | 5.92 | 96,688 | $ | 13.4 | |||||||||||
Granted | 693,214 | 1.18 | 97,197 | 1.74 | |||||||||||||
Vested | (22,113 | ) | 12.19 | (27,362 | ) | 13.04 | |||||||||||
Forfeited | (31,322 | ) | 6.84 | (13,207 | ) | 15.22 | |||||||||||
Outstanding, ending | 793,095 | $ | 1.57 | 153,316 | $ | 5.92 | |||||||||||
Summary of Unvested Share Activity for Non-Employee Directors | ' | ||||||||||||||||
The following table summarizes unvested share activity as of and for the periods indicated for the Non-Employee Directors Stock Ownership Incentive Plan: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Grant | Grant | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | 80,078 | $ | 1.77 | 3,538 | $ | 7.91 | |||||||||||
Granted | 182,355 | 0.85 | 93,943 | 1.65 | |||||||||||||
Vested | (16,524 | ) | 2.02 | (17,403 | ) | 2.37 | |||||||||||
Forfeited | — | — | — | — | |||||||||||||
Outstanding, ending | 245,909 | $ | 1.07 | 80,078 | $ | 1.77 | |||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
The following table summarizes stock option activity: | |||||||||||||||||
Nine Months Ended | Twelve Months Ended | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||
Average | Average | ||||||||||||||||
Exercise | Exercise | ||||||||||||||||
Price | Price | ||||||||||||||||
Outstanding, beginning | — | $ | — | 29,530 | $ | 19.88 | |||||||||||
Forfeited | — | — | — | — | |||||||||||||
Expired | — | — | (29,530 | ) | 19.88 | ||||||||||||
Outstanding, ending | — | $ | — | — | $ | — | |||||||||||
Unrecognized Stock Based Compensation Expense Related to Unvested Shares | ' | ||||||||||||||||
Unrecognized stock based compensation expense related to unvested shares for the remainder of 2013 and beyond is estimated as follows (in thousands): | |||||||||||||||||
October 2013 – December 2013 | $ | 216 | |||||||||||||||
2014 | 522 | ||||||||||||||||
2015 | 397 | ||||||||||||||||
2016 | 240 | ||||||||||||||||
2017 & thereafter | 41 |
Earnings_Loss_per_Share_Tables
Earnings (Loss) per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Computation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The factors used in the basic and diluted earnings per share computations follow: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands, except share and per share data) | |||||||||||||||||
Net income (loss) | $ | 298 | $ | (27,732 | ) | $ | (1,080 | ) | $ | (26,079 | ) | ||||||
Less: | |||||||||||||||||
Preferred stock dividends | 437 | 437 | 1,311 | 1,312 | |||||||||||||
Accretion of Series A preferred stock discount | 45 | 44 | 135 | 134 | |||||||||||||
Earnings (loss) allocated to unvested shares | (11 | ) | (501 | ) | (107 | ) | (345 | ) | |||||||||
Earnings (loss) allocated to Series C preferred | (5 | ) | (763 | ) | (67 | ) | (750 | ) | |||||||||
Net income (loss) allocated to common shareholders, basic and diluted | $ | (168 | ) | $ | (26,949 | ) | $ | (2,352 | ) | $ | (26,430 | ) | |||||
Basic | |||||||||||||||||
Weighted average common shares including unvested common shares outstanding | 12,702,627 | 12,303,217 | 12,569,514 | 12,219,035 | |||||||||||||
Less: Weighted average unvested common shares | 776,774 | 218,505 | 535,224 | 153,306 | |||||||||||||
Less: Weighted average Series C preferred | 332,894 | 332,894 | 332,894 | 332,894 | |||||||||||||
Weighted average common shares outstanding | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | |||||||||||||
Basic earnings (loss) per common share | $ | (0.01 | ) | $ | (2.29 | ) | $ | (0.20 | ) | $ | (2.25 | ) | |||||
Diluted | |||||||||||||||||
Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants | — | — | — | — | |||||||||||||
Weighted average common shares and potential common shares | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | |||||||||||||
Diluted earnings (loss) per common share | $ | (0.01 | ) | $ | (2.29 | ) | $ | (0.20 | ) | $ | (2.25 | ) | |||||
Capital_Requirements_and_Restr1
Capital Requirements and Restrictions on Retained Earnings (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Ratios of Tier One Capital and Total Capital to Risk-Adjusted Assets and Leverage Ratios | ' | ||||||||||||||||||||||||||||
The following table shows the ratios of Tier 1 capital and total capital to risk-adjusted assets and the leverage ratios for Porter Bancorp, Inc. and PBI Bank at the dates indicated: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
Regulatory | Well-Capitalized | Minimum Capital | Porter | PBI | Porter | PBI | |||||||||||||||||||||||
Minimums | Minimums | Ratios Under | Bancorp | Bank | Bancorp | Bank | |||||||||||||||||||||||
Consent Order | |||||||||||||||||||||||||||||
Tier 1 Capital | 4 | % | 6 | % | N/A | 7.19 | % | 8.94 | % | 6.46 | % | 7.71 | % | ||||||||||||||||
Total risk-based capital | 8 | 10 | 12 | % | 10.78 | 11.04 | 9.81 | 9.82 | |||||||||||||||||||||
Tier 1 leverage ratio | 4 | 5 | 9 | 5.15 | 6.4 | 4.5 | 5.37 |
Basis_of_Presentation_and_Summ2
Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) | Sep. 30, 2013 |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ' |
Ownership Interest in PBI Bank | 100.00% |
Going_Concern_Considerations_a1
Going Concern Considerations and Future Plans - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Oct. 31, 2012 | Jun. 24, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 24, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 24, 2011 | Sep. 30, 2013 | |
Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Real estate construction | Real estate construction | Non-owner occupied commercial real estate loans | Non-owner occupied commercial real estate loans | Construction | Construction | Construction | 1-4 Family | 1-4 Family | Decrease | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | Sales Strategy Change | ||||||||
Other real estate owned, net | Other real estate owned, net | Other real estate owned, net | Other real estate owned, net | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Other real estate owned, net | Other real estate owned, net | Construction and development loans | Construction and development loans | Construction and development loans | Non-owner occupied commercial real estate loans | Non-owner occupied commercial real estate loans | Non-owner occupied commercial real estate loans | |||||||||||||||||
Recent Developments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) available to common shareholders | ($168,000) | ($26,949,000) | ($2,352,000) | ($26,430,000) | $33,400,000 | $105,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for loan losses | 250,000 | 25,500,000 | 700,000 | 33,250,000 | 40,300,000 | ' | ' | 196,000 | 17,412,000 | 72,000 | 19,187,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-interest expense | 8,468,000 | 14,150,000 | 29,841,000 | 33,459,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net interest income | 7,849,000 | 10,132,000 | 24,499,000 | 32,381,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loan charge-offs | ' | ' | ' | ' | 36,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other real estate owned expense | 669,000 | 5,204,000 | 3,117,000 | 7,666,000 | 10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative accrued and unpaid dividends | 3,700,000 | ' | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier I leverage ratio, regulatory minimum | 4.00% | 9.00% | 4.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' |
Total risk-based capital, regulatory minimum | 8.00% | 12.00% | 8.00% | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | 12.00% | ' | ' | ' | ' | ' | ' | ' |
Gross loans | 734,240,000 | ' | 734,240,000 | ' | 899,092,000 | 1,100,000,000 | 1,300,000,000 | 361,732,000 | ' | 361,732,000 | ' | 473,796,000 | ' | ' | ' | ' | 152,000,000 | 293,300,000 | 51,994,000 | 70,284,000 | 199,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum concentration of loans to total risk based capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | 75.00% | 250.00% | 250.00% | 250.00% | ' |
Concentration of loans to total risk based capital | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62.00% | 82.00% | ' | 300.00% | 362.00% | ' | ' |
Maximum risk based capital loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,000,000 | 70,300,000 | ' | 250,100,000 | 311,100,000 | ' | ' |
OREO acquired during the period | ' | ' | 18,500,000 | ' | 33,500,000 | 41,900,000 | 90,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value adjustments and loss on sale of OREO | ' | ' | 1,800,000 | ' | 9,300,000 | 42,800,000 | 13,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Losses on sale of OREO | 169,000 | -533,000 | -190,000 | -1,481,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 190,000 |
Net write-down of other real estate owned | ' | ' | 1,584,000 | 5,090,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 |
Proceeds from sale of OREO | ' | ' | 18,600,000 | ' | 22,500,000 | 26,000,000 | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of OREO portfolio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 35.00% | 48.00% | 51.00% | ' | ' | ' | ' | ' | 15.00% | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Construction, development and other land loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $52,000,000 | $70,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_of_Available_for_Sa
Fair Value of Available for Sale Securities and Related Gross Unrealized Gains and Losses (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $196,747 | $173,168 |
Gross Unrealized Gains | 2,800 | 5,689 |
Gross Unrealized Losses | -5,566 | -381 |
Fair Value | 193,981 | 178,476 |
Debt securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 196,612 | 171,809 |
Gross Unrealized Gains | 2,758 | 5,202 |
Gross Unrealized Losses | -5,566 | -381 |
Fair Value | 193,804 | 176,630 |
Debt securities | U.S. Government and federal agency | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 29,184 | 5,603 |
Gross Unrealized Gains | 328 | 530 |
Gross Unrealized Losses | -1,599 | ' |
Fair Value | 27,913 | 6,133 |
Debt securities | Agency mortgage-backed: residential | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 85,583 | 94,298 |
Gross Unrealized Gains | 519 | 1,141 |
Gross Unrealized Losses | -1,529 | -257 |
Fair Value | 84,573 | 95,182 |
Debt securities | State and municipal | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 58,150 | 52,485 |
Gross Unrealized Gains | 962 | 2,335 |
Gross Unrealized Losses | -1,965 | -87 |
Fair Value | 57,147 | 54,733 |
Debt securities | Corporate bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 23,123 | 18,851 |
Gross Unrealized Gains | 915 | 1,150 |
Gross Unrealized Losses | -473 | -37 |
Fair Value | 23,565 | 19,964 |
Debt securities | Other | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 572 | 572 |
Gross Unrealized Gains | 34 | 46 |
Fair Value | 606 | 618 |
Equity | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 135 | 1,359 |
Gross Unrealized Gains | 42 | 487 |
Fair Value | $177 | $1,846 |
Sales_and_Calls_of_Available_f
Sales and Calls of Available for Sale Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' |
Proceeds | $804 | ' | $2,712 | $65,695 |
Gross gains | 24 | ' | 728 | 3,530 |
Gross losses | ' | ' | $1 | ' |
Amortized_Cost_and_Fair_Value_
Amortized Cost and Fair Value of Debt Investment Securities Portfolio by Contractual Maturity (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Amortized Cost | ' |
Within one year | $17,229 |
One to five years | 15,513 |
Five to ten years | 69,908 |
Beyond ten years | 8,379 |
Agency mortgage-backed: residential | 85,583 |
Total | 196,612 |
Fair Value | ' |
Within one year | 16,810 |
One to five years | 16,690 |
Five to ten years | 67,557 |
Beyond ten years | 8,174 |
Agency mortgage-backed: residential | 84,573 |
Total | $193,804 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Securities pledged, carrying values | $59,300,000 | $76,400,000 |
Unrealized loss, less than 12 months | 5,164,000 | 381,000 |
Equity | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Unrealized loss, less than 12 months | $0 | ' |
Number of securities | 1 | ' |
Securities_with_Unrealized_Los
Securities with Unrealized Losses (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | $112,773,000 | $35,115,000 |
Unrealized loss, less than 12 months | -5,164,000 | -381,000 |
Fair value, 12 months or more | 8,932,000 | ' |
Unrealized loss, 12 months or more | -402,000 | ' |
Fair value, total | 121,705,000 | 35,115,000 |
Unrealized loss, total | -5,566,000 | -381,000 |
Agency mortgage-backed: residential | ' | ' |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | 43,799,000 | 23,375,000 |
Unrealized loss, less than 12 months | -1,195,000 | -257,000 |
Fair value, 12 months or more | 7,864,000 | ' |
Unrealized loss, 12 months or more | -334,000 | ' |
Fair value, total | 51,663,000 | 23,375,000 |
Unrealized loss, total | -1,529,000 | -257,000 |
U.S. Government and federal agency | ' | ' |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | 22,104,000 | ' |
Unrealized loss, less than 12 months | -1,599,000 | ' |
Fair value, total | 22,104,000 | ' |
Unrealized loss, total | -1,599,000 | ' |
State and municipal | ' | ' |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | 34,048,000 | 7,961,000 |
Unrealized loss, less than 12 months | -1,897,000 | -87,000 |
Fair value, 12 months or more | 1,068,000 | ' |
Unrealized loss, 12 months or more | -68,000 | ' |
Fair value, total | 35,116,000 | 7,961,000 |
Unrealized loss, total | -1,965,000 | -87,000 |
Corporate bonds | ' | ' |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | 12,822,000 | 3,777,000 |
Unrealized loss, less than 12 months | -473,000 | -37,000 |
Fair value, total | 12,822,000 | 3,777,000 |
Unrealized loss, total | -473,000 | -37,000 |
Equity | ' | ' |
Investments, Unrealized Loss Position [Line Items] | ' | ' |
Fair value, less than 12 months | ' | 2,000 |
Fair value, total | ' | $2,000 |
Loans_Detail
Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | $734,240,000 | $899,092,000 | $1,100,000,000 | $1,300,000,000 |
Less: Allowance for loan losses | -31,754,000 | -56,680,000 | ' | ' |
Loans, net | 702,486,000 | 842,412,000 | ' | ' |
Commercial | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 51,572,000 | 52,567,000 | ' | ' |
Less: Allowance for loan losses | -3,587,000 | -4,402,000 | ' | ' |
Commercial Real Estate | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 361,732,000 | 473,796,000 | ' | ' |
Less: Allowance for loan losses | -16,948,000 | -34,768,000 | ' | ' |
Commercial Real Estate | Construction | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 51,994,000 | 70,284,000 | ' | 199,500,000 |
Commercial Real Estate | Farmland | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 73,159,000 | 80,825,000 | ' | ' |
Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 236,579,000 | 322,687,000 | ' | ' |
Residential Real Estate | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 280,811,000 | 329,259,000 | ' | ' |
Less: Allowance for loan losses | -10,193,000 | -16,235,000 | ' | ' |
Residential Real Estate | Multi-Family | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 46,052,000 | 50,986,000 | ' | ' |
Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 234,759,000 | 278,273,000 | ' | ' |
Consumer | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 15,709,000 | 20,383,000 | ' | ' |
Less: Allowance for loan losses | -600,000 | -857,000 | ' | ' |
Agriculture | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 23,669,000 | 22,317,000 | ' | ' |
Less: Allowance for loan losses | -421,000 | -403,000 | ' | ' |
Other | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Gross loans | 747,000 | 770,000 | ' | ' |
Less: Allowance for loan losses | ($5,000) | ($15,000) | ' | ' |
Activity_in_Allowance_for_Loan
Activity in Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $37,559 | $51,594 | $56,680 | $52,579 | $52,579 |
Provision for loan losses | 250 | 25,500 | 700 | 33,250 | 40,300 |
Loans charged off | -7,071 | -23,487 | -28,437 | -32,507 | ' |
Recoveries | 1,016 | 412 | 2,811 | 697 | ' |
Ending balance | 31,754 | 54,019 | 31,754 | 54,019 | 56,680 |
Commercial | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 4,648 | 3,811 | 4,402 | 4,207 | 4,207 |
Provision for loan losses | -539 | 2,630 | 94 | 2,641 | ' |
Loans charged off | -965 | -2,400 | -2,073 | -2,866 | ' |
Recoveries | 443 | 27 | 1,164 | 86 | ' |
Ending balance | 3,587 | 4,068 | 3,587 | 4,068 | ' |
Commercial Real Estate | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 21,022 | 31,049 | 34,768 | 33,024 | 33,024 |
Provision for loan losses | 196 | 17,412 | 72 | 19,187 | ' |
Loans charged off | -4,726 | -16,192 | -18,904 | -20,055 | ' |
Recoveries | 456 | 324 | 1,012 | 437 | ' |
Ending balance | 16,948 | 32,593 | 16,948 | 32,593 | ' |
Residential Real Estate | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 10,790 | 15,587 | 16,235 | 14,217 | 14,217 |
Provision for loan losses | 612 | 4,326 | 522 | 9,528 | ' |
Loans charged off | -1,272 | -3,824 | -6,748 | -7,715 | ' |
Recoveries | 63 | 16 | 184 | 75 | ' |
Ending balance | 10,193 | 16,105 | 10,193 | 16,105 | ' |
Consumer | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 594 | 792 | 857 | 792 | 792 |
Provision for loan losses | 61 | 366 | 140 | 687 | ' |
Loans charged off | -99 | -375 | -620 | -747 | ' |
Recoveries | 44 | 24 | 223 | 75 | ' |
Ending balance | 600 | 807 | 600 | 807 | ' |
Agriculture | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 487 | 343 | 403 | 325 | 325 |
Provision for loan losses | -67 | 763 | -118 | 1,206 | ' |
Loans charged off | -9 | -696 | -92 | -1,124 | ' |
Recoveries | 10 | 21 | 228 | 24 | ' |
Ending balance | 421 | 431 | 421 | 431 | ' |
Other | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 18 | 12 | 15 | 14 | 14 |
Provision for loan losses | -13 | 3 | -10 | 1 | ' |
Ending balance | $5 | $15 | $5 | $15 | ' |
Balance_in_Allowance_for_Loan_
Balance in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | $4,762,000 | $21,034,000 | ' | ' |
Collectively evaluated for impairment | 26,992,000 | 35,646,000 | ' | ' |
Total ending allowance balance | 31,754,000 | 56,680,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 155,417,000 | 188,808,000 | ' | ' |
Loans collectively evaluated for impairment | 578,823,000 | 710,284,000 | ' | ' |
Total ending loans balance | 734,240,000 | 899,092,000 | 1,100,000,000 | 1,300,000,000 |
Commercial | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | 381,000 | 263,000 | ' | ' |
Collectively evaluated for impairment | 3,206,000 | 4,139,000 | ' | ' |
Total ending allowance balance | 3,587,000 | 4,402,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 5,226,000 | 5,296,000 | ' | ' |
Loans collectively evaluated for impairment | 46,346,000 | 47,271,000 | ' | ' |
Total ending loans balance | 51,572,000 | 52,567,000 | ' | ' |
Commercial Real Estate | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | 3,267,000 | 16,046,000 | ' | ' |
Collectively evaluated for impairment | 13,681,000 | 18,722,000 | ' | ' |
Total ending allowance balance | 16,948,000 | 34,768,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 99,437,000 | 125,922,000 | ' | ' |
Loans collectively evaluated for impairment | 262,295,000 | 347,874,000 | ' | ' |
Total ending loans balance | 361,732,000 | 473,796,000 | ' | ' |
Residential Real Estate | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | 1,046,000 | 4,641,000 | ' | ' |
Collectively evaluated for impairment | 9,147,000 | 11,594,000 | ' | ' |
Total ending allowance balance | 10,193,000 | 16,235,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 49,741,000 | 56,799,000 | ' | ' |
Loans collectively evaluated for impairment | 231,070,000 | 272,460,000 | ' | ' |
Total ending loans balance | 280,811,000 | 329,259,000 | ' | ' |
Consumer | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | 68,000 | 68,000 | ' | ' |
Collectively evaluated for impairment | 532,000 | 789,000 | ' | ' |
Total ending allowance balance | 600,000 | 857,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 148,000 | 212,000 | ' | ' |
Loans collectively evaluated for impairment | 15,561,000 | 20,171,000 | ' | ' |
Total ending loans balance | 15,709,000 | 20,383,000 | ' | ' |
Agriculture | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | ' | 5,000 | ' | ' |
Collectively evaluated for impairment | 421,000 | 398,000 | ' | ' |
Total ending allowance balance | 421,000 | 403,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 332,000 | 55,000 | ' | ' |
Loans collectively evaluated for impairment | 23,337,000 | 22,262,000 | ' | ' |
Total ending loans balance | 23,669,000 | 22,317,000 | ' | ' |
Other | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Individually evaluated for impairment | ' | 11,000 | ' | ' |
Collectively evaluated for impairment | 5,000 | 4,000 | ' | ' |
Total ending allowance balance | 5,000 | 15,000 | ' | ' |
Loans: | ' | ' | ' | ' |
Loans individually evaluated for impairment | 533,000 | 524,000 | ' | ' |
Loans collectively evaluated for impairment | 214,000 | 246,000 | ' | ' |
Total ending loans balance | $747,000 | $770,000 | ' | ' |
Loans_Individually_Evaluated_f
Loans Individually Evaluated for Impairment by Class of Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | $179,942 | $179,942 | $207,106 |
Recorded Investment | 155,417 | 155,417 | 188,808 |
Allowance For Loan Losses Allocated | 4,762 | 4,762 | 21,034 |
Average Recorded Investment | 165,228 | 174,184 | 175,828 |
Interest Income Recognized | 894 | 2,558 | 3,976 |
Cash Basis Income Recognized | ' | 827 | 355 |
Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 5,226 | 5,226 | 5,296 |
Commercial Real Estate | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 99,437 | 99,437 | 125,922 |
Residential Real Estate | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 49,741 | 49,741 | 56,799 |
Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 148 | 148 | 212 |
Agriculture | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 332 | 332 | 55 |
Other | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 533 | 533 | 524 |
Impaired Financing Receivables with No Related Allowance | Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 1,853 | 1,853 | 1,460 |
Recorded Investment | 1,556 | 1,556 | 1,234 |
Average Recorded Investment | 1,727 | 1,644 | 1,637 |
Interest Income Recognized | 30 | 30 | 5 |
Cash Basis Income Recognized | ' | 30 | 4 |
Impaired Financing Receivables with No Related Allowance | Commercial Real Estate | Construction | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 311 | 311 | 1,155 |
Recorded Investment | 195 | 195 | 1,109 |
Average Recorded Investment | 193 | 574 | 1,745 |
Interest Income Recognized | 153 | 164 | 2 |
Cash Basis Income Recognized | ' | 164 | 2 |
Impaired Financing Receivables with No Related Allowance | Commercial Real Estate | Farmland | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 4,641 | 4,641 | 4,448 |
Recorded Investment | 4,575 | 4,575 | 4,448 |
Average Recorded Investment | 4,439 | 4,349 | 4,706 |
Interest Income Recognized | 5 | 177 | 57 |
Cash Basis Income Recognized | ' | 177 | 57 |
Impaired Financing Receivables with No Related Allowance | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 2,209 | 2,209 | 2,134 |
Recorded Investment | 1,980 | 1,980 | 1,892 |
Average Recorded Investment | 1,753 | 1,803 | 3,436 |
Interest Income Recognized | 109 | 366 | 3 |
Cash Basis Income Recognized | ' | 366 | 3 |
Impaired Financing Receivables with No Related Allowance | Residential Real Estate | Multi-Family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 447 | 447 | 643 |
Recorded Investment | 395 | 395 | 643 |
Average Recorded Investment | 516 | 579 | 910 |
Impaired Financing Receivables with No Related Allowance | Residential Real Estate | 1-4 Family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 10,953 | 10,953 | 13,539 |
Recorded Investment | 10,078 | 10,078 | 13,158 |
Average Recorded Investment | 10,538 | 11,896 | 11,291 |
Interest Income Recognized | 33 | 90 | 56 |
Cash Basis Income Recognized | ' | 90 | 56 |
Impaired Financing Receivables with No Related Allowance | Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 14 | 14 | 70 |
Recorded Investment | 14 | 14 | 70 |
Average Recorded Investment | 8 | 25 | 219 |
Interest Income Recognized | ' | ' | 8 |
Cash Basis Income Recognized | ' | ' | 5 |
Impaired Financing Receivables with No Related Allowance | Agriculture | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 410 | 410 | 45 |
Recorded Investment | 332 | 332 | 45 |
Average Recorded Investment | 266 | 186 | 366 |
Interest Income Recognized | ' | ' | 2 |
Impaired Financing Receivables with No Related Allowance | Other | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 18 | 18 | ' |
Recorded Investment | 18 | 18 | ' |
Average Recorded Investment | 18 | 9 | ' |
Impaired Financing Receivables with An Allowance Recorded | Commercial | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 3,776 | 3,776 | 4,108 |
Recorded Investment | 3,670 | 3,670 | 4,062 |
Allowance For Loan Losses Allocated | 381 | 381 | 263 |
Average Recorded Investment | 4,110 | 4,016 | 3,964 |
Interest Income Recognized | 19 | 80 | 169 |
Cash Basis Income Recognized | ' | ' | 27 |
Impaired Financing Receivables with An Allowance Recorded | Commercial Real Estate | Construction | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 20,462 | 20,462 | 26,645 |
Recorded Investment | 19,316 | 19,316 | 25,455 |
Allowance For Loan Losses Allocated | 388 | 388 | 1,543 |
Average Recorded Investment | 20,831 | 22,900 | 19,514 |
Interest Income Recognized | 10 | 78 | 348 |
Cash Basis Income Recognized | ' | ' | 5 |
Impaired Financing Receivables with An Allowance Recorded | Commercial Real Estate | Farmland | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 8,000 | 8,000 | 8,557 |
Recorded Investment | 5,606 | 5,606 | 6,456 |
Allowance For Loan Losses Allocated | 194 | 194 | 734 |
Average Recorded Investment | 5,575 | 5,914 | 5,794 |
Interest Income Recognized | 11 | 33 | 43 |
Cash Basis Income Recognized | ' | ' | 2 |
Impaired Financing Receivables with An Allowance Recorded | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 83,138 | 83,138 | 97,699 |
Recorded Investment | 67,765 | 67,765 | 86,562 |
Allowance For Loan Losses Allocated | 2,685 | 2,685 | 13,769 |
Average Recorded Investment | 74,620 | 78,285 | 83,087 |
Interest Income Recognized | 327 | 1,009 | 2,011 |
Cash Basis Income Recognized | ' | ' | 185 |
Impaired Financing Receivables with An Allowance Recorded | Residential Real Estate | Multi-Family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 14,199 | 14,199 | 14,906 |
Recorded Investment | 12,490 | 12,490 | 14,906 |
Allowance For Loan Losses Allocated | 395 | 395 | 1,643 |
Average Recorded Investment | 12,713 | 13,372 | 11,187 |
Interest Income Recognized | 51 | 158 | 468 |
Impaired Financing Receivables with An Allowance Recorded | Residential Real Estate | 1-4 Family | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 28,795 | 28,795 | 31,021 |
Recorded Investment | 26,778 | 26,778 | 28,092 |
Allowance For Loan Losses Allocated | 651 | 651 | 2,998 |
Average Recorded Investment | 27,283 | 27,963 | 27,404 |
Interest Income Recognized | 140 | 358 | 787 |
Cash Basis Income Recognized | ' | ' | 9 |
Impaired Financing Receivables with An Allowance Recorded | Consumer | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 202 | 202 | 142 |
Recorded Investment | 134 | 134 | 142 |
Allowance For Loan Losses Allocated | 68 | 68 | 68 |
Average Recorded Investment | 122 | 146 | 29 |
Interest Income Recognized | 1 | 2 | ' |
Impaired Financing Receivables with An Allowance Recorded | Agriculture | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | ' | ' | 10 |
Recorded Investment | ' | ' | 10 |
Allowance For Loan Losses Allocated | ' | ' | 5 |
Average Recorded Investment | ' | 3 | 6 |
Impaired Financing Receivables with An Allowance Recorded | Other | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Unpaid Principal Balance | 514 | 514 | 524 |
Recorded Investment | 515 | 515 | 524 |
Allowance For Loan Losses Allocated | ' | ' | 11 |
Average Recorded Investment | 516 | 520 | 533 |
Interest Income Recognized | $5 | $13 | $17 |
Types_of_Troubled_Debt_Restruc
Types of Troubled Debt Restructuring Loan Modification by Portfolio Segment Outstanding (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | $93,223 | ' | $93,223 | ' | $117,808 |
TDR Loan Modifications during 12 months | 389 | 5,699 | 3,535 | 45,258 | ' |
Commercial | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 1,957 | ' | 1,957 | ' | 1,972 |
TDR Loan Modifications during 12 months | ' | ' | 39 | ' | ' |
Commercial | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 875 | ' | 875 | ' | 887 |
Commercial | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 958 |
TDR Loan Modifications during 12 months | ' | ' | ' | 1,019 | ' |
Commercial Real Estate | Construction | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 6,639 | ' | 6,639 | ' | 9,293 |
TDR Loan Modifications during 12 months | ' | ' | 1,291 | 849 | ' |
Commercial Real Estate | Construction | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 499 | ' | 499 | ' | ' |
TDR Loan Modifications during 12 months | ' | ' | 499 | ' | ' |
Commercial Real Estate | Farmland | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 150 | ' | 150 | ' | 150 |
TDR Loan Modifications during 12 months | ' | 150 | ' | 150 | ' |
Commercial Real Estate | Farmland | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 3,139 | ' | 3,139 | ' | 3,163 |
Commercial Real Estate | Nonfarm nonresidential | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 45,189 | ' | 45,189 | ' | 59,146 |
TDR Loan Modifications during 12 months | ' | 5,549 | 388 | 16,700 | ' |
Commercial Real Estate | Nonfarm nonresidential | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 1,195 |
TDR Loan Modifications during 12 months | ' | ' | ' | 1,196 | ' |
Commercial Real Estate | Nonfarm nonresidential | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 3,937 | ' | 3,937 | ' | 4,573 |
TDR Loan Modifications during 12 months | ' | ' | ' | 4,641 | ' |
Residential Real Estate | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 14 |
Residential Real Estate | Multi-Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 11,113 | ' | 11,113 | ' | 13,087 |
TDR Loan Modifications during 12 months | ' | ' | ' | 12,879 | ' |
Residential Real Estate | Multi-Family | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 644 | ' | 644 | ' | 652 |
Residential Real Estate | 1-4 Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 18,490 | ' | 18,490 | ' | 22,194 |
TDR Loan Modifications during 12 months | 363 | ' | 1,254 | 7,440 | ' |
Residential Real Estate | 1-4 Family | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
TDR Loan Modifications during 12 months | ' | ' | ' | 384 | ' |
Other | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 514 | ' | 514 | ' | 524 |
Consumer | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 77 | ' | 77 | ' | ' |
TDR Loan Modifications during 12 months | 26 | ' | 64 | ' | ' |
TDRs Performing to Modified Terms | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 43,968 | ' | 43,968 | ' | 77,344 |
TDR Loan Modifications during 12 months | 389 | 5,699 | 2,244 | 40,801 | ' |
TDRs Performing to Modified Terms | Commercial | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 1,957 | ' | 1,957 | ' | 1,972 |
TDR Loan Modifications during 12 months | ' | ' | 39 | ' | ' |
TDRs Performing to Modified Terms | Commercial | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 887 |
TDRs Performing to Modified Terms | Commercial Real Estate | Construction | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 277 | ' | 277 | ' | 4,834 |
TDRs Performing to Modified Terms | Commercial Real Estate | Construction | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 499 | ' | 499 | ' | ' |
TDR Loan Modifications during 12 months | ' | ' | 499 | ' | ' |
TDRs Performing to Modified Terms | Commercial Real Estate | Farmland | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 150 | ' | 150 | ' | 150 |
TDR Loan Modifications during 12 months | ' | 150 | ' | 150 | ' |
TDRs Performing to Modified Terms | Commercial Real Estate | Farmland | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 701 | ' | 701 | ' | 725 |
TDRs Performing to Modified Terms | Commercial Real Estate | Nonfarm nonresidential | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 23,511 | ' | 23,511 | ' | 36,515 |
TDR Loan Modifications during 12 months | ' | 5,549 | 388 | 16,700 | ' |
TDRs Performing to Modified Terms | Commercial Real Estate | Nonfarm nonresidential | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 1,195 |
TDR Loan Modifications during 12 months | ' | ' | ' | 1,196 | ' |
TDRs Performing to Modified Terms | Commercial Real Estate | Nonfarm nonresidential | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 2,448 | ' | 2,448 | ' | 2,466 |
TDR Loan Modifications during 12 months | ' | ' | ' | 2,467 | ' |
TDRs Performing to Modified Terms | Residential Real Estate | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 14 |
TDRs Performing to Modified Terms | Residential Real Estate | Multi-Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 4,385 | ' | 4,385 | ' | 13,087 |
TDR Loan Modifications during 12 months | ' | ' | ' | 12,848 | ' |
TDRs Performing to Modified Terms | Residential Real Estate | Multi-Family | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 644 | ' | 644 | ' | 652 |
TDRs Performing to Modified Terms | Residential Real Estate | 1-4 Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 8,805 | ' | 8,805 | ' | 14,323 |
TDR Loan Modifications during 12 months | 363 | ' | 1,254 | 7,440 | ' |
TDRs Performing to Modified Terms | Other | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 514 | ' | 514 | ' | 524 |
TDRs Performing to Modified Terms | Consumer | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 77 | ' | 77 | ' | ' |
TDR Loan Modifications during 12 months | 26 | ' | 64 | ' | ' |
TDRs Not Performing to Modified Terms | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 49,255 | ' | 49,255 | ' | 40,464 |
TDR Loan Modifications during 12 months | ' | ' | 1,291 | 4,457 | ' |
TDRs Not Performing to Modified Terms | Commercial | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 875 | ' | 875 | ' | ' |
TDRs Not Performing to Modified Terms | Commercial | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | ' | ' | ' | ' | 958 |
TDR Loan Modifications during 12 months | ' | ' | ' | 1,019 | ' |
TDRs Not Performing to Modified Terms | Commercial Real Estate | Construction | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 6,362 | ' | 6,362 | ' | 4,459 |
TDR Loan Modifications during 12 months | ' | ' | 1,291 | 849 | ' |
TDRs Not Performing to Modified Terms | Commercial Real Estate | Farmland | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 2,438 | ' | 2,438 | ' | 2,438 |
TDRs Not Performing to Modified Terms | Commercial Real Estate | Nonfarm nonresidential | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 21,678 | ' | 21,678 | ' | 22,631 |
TDRs Not Performing to Modified Terms | Commercial Real Estate | Nonfarm nonresidential | Interest Only Payments | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 1,489 | ' | 1,489 | ' | 2,107 |
TDR Loan Modifications during 12 months | ' | ' | ' | 2,174 | ' |
TDRs Not Performing to Modified Terms | Residential Real Estate | Multi-Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 6,728 | ' | 6,728 | ' | ' |
TDR Loan Modifications during 12 months | ' | ' | ' | 31 | ' |
TDRs Not Performing to Modified Terms | Residential Real Estate | 1-4 Family | Rate Reduction | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Troubled Debt Restructuring | 9,685 | ' | 9,685 | ' | 7,871 |
TDR Loan Modifications during 12 months | ' | ' | ' | ' | ' |
TDRs Not Performing to Modified Terms | Residential Real Estate | 1-4 Family | Principal Deferral | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
TDR Loan Modifications during 12 months | ' | ' | ' | $384 | ' |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | |
Troubled Debt Restructurings Term Modification Three | Troubled Debt Restructurings Term Modification Three | Troubled Debt Restructurings Term Modification One | Troubled Debt Restructurings Term Modification One | Troubled Debt Restructurings Term Modification Two | Troubled Debt Restructurings Term Modification Two | Commercial Real Estate | Commercial | Residential Real Estate | |||
1-4 Family | |||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Company's TDRs that were performing according to modified terms | ' | ' | 63.00% | 90.00% | 47.00% | 66.00% | 100.00% | 100.00% | ' | ' | ' |
Reserves to borrowers whose loan terms have been modified in TDRs outstanding | ' | ' | $336,000 | $3,900,000 | $3,500,000 | $15,100,000 | $36,000 | $489,000 | ' | ' | ' |
Commitment to lend additional amount to borrowers with outstanding loans classified as TDRs | ' | ' | ' | ' | 262,000 | 259,000 | ' | ' | ' | ' | ' |
TDRs defaulted on restructured loan | 1,300,000 | 9,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Past due period over which a default is considered to have occurred | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
TDRs defaulted on restructured loan | ' | ' | ' | ' | ' | ' | ' | ' | 6,900,000 | 1,200,000 | 1,700,000 |
Minimum outstanding loan balance for credit risk analysis | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded_Investment_in_Nonaccr
Recorded Investment in Nonaccrual and Loans Past due 90 Days and Still on Accrual by Class of Loan (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | $106,922 | $94,517 |
Loans Past Due 90 Day And Over Still Accruing | ' | 86 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 3,084 | 2,437 |
Loans Past Due 90 Day And Over Still Accruing | ' | 36 |
Commercial Real Estate | Construction | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 18,734 | 7,808 |
Commercial Real Estate | Farmland | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 9,187 | 10,030 |
Commercial Real Estate | Nonfarm nonresidential | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 40,394 | 46,036 |
Residential Real Estate | Multi-Family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 7,647 | 1,516 |
Residential Real Estate | 1-4 Family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 27,455 | 26,501 |
Loans Past Due 90 Day And Over Still Accruing | ' | 50 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 71 | 135 |
Agriculture | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | 332 | 54 |
Other | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Nonaccrual | $18 | ' |
Aging_of_Recorded_Investment_i
Aging of Recorded Investment in Past Due Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | $10,018 | $38,219 |
60 - 89 Days Past Due | 7,582 | 20,303 |
90 Days And Over Past Due | ' | 86 |
Non-accrual | 106,922 | 94,517 |
Total Past Due And Non-accrual | 124,522 | 153,125 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 4,290 | 1,279 |
60 - 89 Days Past Due | 174 | 90 |
90 Days And Over Past Due | ' | 36 |
Non-accrual | 3,084 | 2,437 |
Total Past Due And Non-accrual | 7,548 | 3,842 |
Commercial Real Estate | Construction | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | ' | 10,510 |
60 - 89 Days Past Due | ' | 5,815 |
Non-accrual | 18,734 | 7,808 |
Total Past Due And Non-accrual | 18,734 | 24,133 |
Commercial Real Estate | Farmland | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 289 | 922 |
60 - 89 Days Past Due | 97 | 58 |
Non-accrual | 9,187 | 10,030 |
Total Past Due And Non-accrual | 9,573 | 11,010 |
Commercial Real Estate | Nonfarm nonresidential | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 771 | 5,138 |
60 - 89 Days Past Due | 5,968 | 13,037 |
Non-accrual | 40,394 | 46,036 |
Total Past Due And Non-accrual | 47,133 | 64,211 |
Residential Real Estate | Multi-Family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,185 | 8,762 |
Non-accrual | 7,647 | 1,516 |
Total Past Due And Non-accrual | 8,832 | 10,278 |
Residential Real Estate | 1-4 Family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 3,267 | 11,145 |
60 - 89 Days Past Due | 1,219 | 1,221 |
90 Days And Over Past Due | ' | 50 |
Non-accrual | 27,455 | 26,501 |
Total Past Due And Non-accrual | 31,941 | 38,917 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 198 | 310 |
60 - 89 Days Past Due | 35 | 75 |
Non-accrual | 71 | 135 |
Total Past Due And Non-accrual | 304 | 520 |
Agriculture | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 18 | 153 |
60 - 89 Days Past Due | 89 | 7 |
Non-accrual | 332 | 54 |
Total Past Due And Non-accrual | 439 | 214 |
Other | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual | 18 | ' |
Total Past Due And Non-accrual | $18 | ' |
Risk_Category_of_Loans_by_Clas
Risk Category of Loans by Class of Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | $734,240,000 | $899,092,000 | $1,100,000,000 | $1,300,000,000 |
Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 51,572,000 | 52,567,000 | ' | ' |
Commercial Real Estate | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 361,732,000 | 473,796,000 | ' | ' |
Commercial Real Estate | Construction | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 51,994,000 | 70,284,000 | ' | 199,500,000 |
Commercial Real Estate | Farmland | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 73,159,000 | 80,825,000 | ' | ' |
Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 236,579,000 | 322,687,000 | ' | ' |
Residential Real Estate | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 280,811,000 | 329,259,000 | ' | ' |
Residential Real Estate | Multi-Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 46,052,000 | 50,986,000 | ' | ' |
Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 234,759,000 | 278,273,000 | ' | ' |
Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 15,709,000 | 20,383,000 | ' | ' |
Agriculture | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 23,669,000 | 22,317,000 | ' | ' |
Other | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 747,000 | 770,000 | ' | ' |
Pass | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 364,720,000 | 437,886,000 | ' | ' |
Pass | Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 33,519,000 | 27,085,000 | ' | ' |
Pass | Commercial Real Estate | Construction | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 17,072,000 | 26,085,000 | ' | ' |
Pass | Commercial Real Estate | Farmland | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 45,172,000 | 47,017,000 | ' | ' |
Pass | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 87,574,000 | 122,603,000 | ' | ' |
Pass | Residential Real Estate | Multi-Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 15,230,000 | 18,387,000 | ' | ' |
Pass | Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 131,240,000 | 159,975,000 | ' | ' |
Pass | Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 13,845,000 | 17,232,000 | ' | ' |
Pass | Agriculture | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 20,853,000 | 19,256,000 | ' | ' |
Pass | Other | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 215,000 | 246,000 | ' | ' |
Watch | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 159,387,000 | 177,419,000 | ' | ' |
Watch | Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 8,203,000 | 10,153,000 | ' | ' |
Watch | Commercial Real Estate | Construction | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 11,404,000 | 21,713,000 | ' | ' |
Watch | Commercial Real Estate | Farmland | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 11,568,000 | 13,461,000 | ' | ' |
Watch | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 62,363,000 | 66,223,000 | ' | ' |
Watch | Residential Real Estate | Multi-Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 15,397,000 | 14,637,000 | ' | ' |
Watch | Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 46,734,000 | 47,030,000 | ' | ' |
Watch | Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 1,079,000 | 2,211,000 | ' | ' |
Watch | Agriculture | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 2,125,000 | 1,467,000 | ' | ' |
Watch | Other | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 514,000 | 524,000 | ' | ' |
Special Mention | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 9,249,000 | 34,700,000 | ' | ' |
Special Mention | Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 706,000 | 6,495,000 | ' | ' |
Special Mention | Commercial Real Estate | Construction | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 2,248,000 | 3,647,000 | ' | ' |
Special Mention | Commercial Real Estate | Farmland | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 879,000 | 3,532,000 | ' | ' |
Special Mention | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 2,982,000 | 14,955,000 | ' | ' |
Special Mention | Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 2,428,000 | 5,167,000 | ' | ' |
Special Mention | Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 6,000 | 35,000 | ' | ' |
Special Mention | Agriculture | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | ' | 869,000 | ' | ' |
Substandard | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 200,594,000 | 248,691,000 | ' | ' |
Substandard | Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 9,100,000 | 8,772,000 | ' | ' |
Substandard | Commercial Real Estate | Construction | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 21,270,000 | 18,839,000 | ' | ' |
Substandard | Commercial Real Estate | Farmland | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 15,540,000 | 16,815,000 | ' | ' |
Substandard | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 83,414,000 | 118,635,000 | ' | ' |
Substandard | Residential Real Estate | Multi-Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 15,425,000 | 17,962,000 | ' | ' |
Substandard | Residential Real Estate | 1-4 Family | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 54,357,000 | 66,101,000 | ' | ' |
Substandard | Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 779,000 | 842,000 | ' | ' |
Substandard | Agriculture | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 691,000 | 725,000 | ' | ' |
Substandard | Other | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 18,000 | ' | ' | ' |
Doubtful | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 290,000 | 396,000 | ' | ' |
Doubtful | Commercial | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 44,000 | 62,000 | ' | ' |
Doubtful | Commercial Real Estate | Nonfarm nonresidential | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | 246,000 | 271,000 | ' | ' |
Doubtful | Consumer | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' |
Gross loans | ' | $63,000 | ' | ' |
Major_Categories_of_Other_Real
Major Categories of Other Real Estate Owned (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | $42,454 | ' | $44,825 | ' | ' | ' |
Valuation allowance | -597 | -747 | -1,154 | -1,795 | -1,724 | -1,667 |
Other real estate owned | 41,857 | ' | 43,671 | 48,837 | ' | 41,449 |
Commercial Real Estate | Construction | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | 20,546 | ' | 22,912 | ' | ' | ' |
Commercial Real Estate | Farmland | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | 545 | ' | 618 | ' | ' | ' |
Commercial Real Estate | Other | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | 14,410 | ' | 15,577 | ' | ' | ' |
Residential Real Estate | Multi-Family | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | 517 | ' | 200 | ' | ' | ' |
Residential Real Estate | 1-4 Family | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' |
Other Real Estate Owned, Gross | $6,436 | ' | $5,518 | ' | ' | ' |
Other_Real_Estate_Owned_Valuat
Other Real Estate Owned Valuation Allowance Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
OREO Valuation Allowance Activity: | ' | ' | ' | ' |
Beginning balance | $747 | $1,724 | $1,154 | $1,667 |
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 |
Write-downs | -450 | -4,189 | -2,141 | -4,962 |
Ending balance | $597 | $1,795 | $597 | $1,795 |
Net_Activity_Relating_to_Other
Net Activity Relating to Other Real Estate Owned Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Real Estate Properties [Line Items] | ' | ' | ' | ' |
OREO as of January 1 | ' | ' | $43,671,000 | $41,449,000 |
Real estate acquired | ' | ' | 18,542,000 | 31,531,000 |
Valuation adjustments | -300,000 | -4,260,000 | -1,584,000 | -5,090,000 |
Improvements | ' | ' | ' | 1,000 |
Loss on sale | 169,000 | -533,000 | -190,000 | -1,481,000 |
Proceeds from sale of properties | ' | ' | -18,582,000 | -17,573,000 |
OREO as of September 30 | 41,857,000 | 48,837,000 | 41,857,000 | 48,837,000 |
Declining Market Values | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' |
Valuation adjustments | ' | ' | ($1,584,000) | ($5,090,000) |
Expenses_Related_to_Other_Real
Expenses Related to Other Real Estate Owned (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' |
Net loss (gain) on sales | ($169) | $533 | $190 | $1,481 | ' |
Provision to allowance | 300 | 4,260 | 1,584 | 5,090 | ' |
Operating expense | 538 | 411 | 1,343 | 1,095 | ' |
Total | $669 | $5,204 | $3,117 | $7,666 | $10,500 |
Scheduled_of_Deposits_by_Categ
Scheduled of Deposits by Category (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Line Items] | ' | ' |
Non-interest bearing | $101,191 | $114,310 |
Interest checking | 71,851 | 87,234 |
Money market | 77,292 | 63,715 |
Savings | 37,622 | 39,227 |
Certificates of deposit | 658,940 | 760,573 |
Total deposits | $946,896 | $1,065,059 |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Deposit Liabilities [Line Items] | ' | ' |
Time deposits of $100,000 or more | $279,300,000 | $319,500,000 |
Deposits | 946,896,000 | 1,065,059,000 |
Brokered | ' | ' |
Deposit Liabilities [Line Items] | ' | ' |
Deposits | ' | $15,000,000 |
Scheduled_Maturities_of_Total_
Scheduled Maturities of Total Time Deposits (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Deposit Liabilities [Line Items] | ' |
Year 1 | $378,763 |
Year 2 | 236,022 |
Year 3 | 25,836 |
Year 4 | 10,350 |
Year 5 | 7,930 |
Thereafter | 39 |
Time Deposits, Total | $658,940 |
Advances_from_Federal_Home_Loa
Advances from Federal Home Loan Bank (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Monthly amortizing advances with fixed rates from 0.00% to 5.25% and maturities ranging from 2013 through 2033, averaging 3.13% for 2013 | $4,741 | $5,604 |
Advances_from_Federal_Home_Loa1
Advances from Federal Home Loan Bank (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' |
Advances from federal home loan bank, fixed rate from | 0.00% |
Advances from federal home loan bank, fixed rate to | 5.25% |
Advances from federal home loan bank, average rate | 3.13% |
Advances from federal home loan bank, maturities from | '2013 |
Advances from federal home loan bank, maturities through | '2033 |
Advances_from_Federal_Home_Loa2
Advances from Federal Home Loan Bank - Additional Information (Detail) (Federal Home Loan Bank Advances, USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' |
Additional borrowing capacity with the Federal Home Loan Bank | 16.4 |
Maximum | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' |
New advances maturity period | '1 year |
Fair_Values_Measurement_Additi
Fair Values Measurement - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Fair Value Measurements [Line Items] | ' | ' |
Estimated discounts for cost to sell | 10.00% | ' |
Other debt security valuation, coupon rate | 6.50% | ' |
Other debt security valuation, estimated current market rate | 11.00% | ' |
Impaired loans, carrying amount | $136,300,000 | $166,200,000 |
Impaired loans, valuation allowance | 4,762,000 | 21,034,000 |
Other real estate owned, net carrying amount | 41,900,000 | 43,700,000 |
Other real estate owned, write-downs | $1,600,000 | ' |
Other real estate owned, net | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Estimated discounts for cost to sell | 10.00% | ' |
Other real estate owned, net | Routine Real Estate Collateral | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 10.00% | ' |
Other real estate owned, net | Thin Trading Market or Specialized Collateral | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 30.00% | ' |
Impaired Loans | Routine Real Estate Collateral | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 10.00% | ' |
Impaired Loans | Thin Trading Market or Specialized Collateral | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 30.00% | ' |
Impaired Loans | Minimum | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 10.00% | ' |
Impaired Loans | Maximum | ' | ' |
Fair Value Measurements [Line Items] | ' | ' |
Internal discount rate used in fair value evaluation | 33.00% | ' |
Financial_Assets_Measured_at_F
Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $193,981 | $178,476 |
Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 193,804 | 176,630 |
Equity | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 177 | 1,846 |
U.S. Government and federal agency | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 27,913 | 6,133 |
Agency mortgage-backed: residential | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 84,573 | 95,182 |
State and municipal | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 57,147 | 54,733 |
Corporate bonds | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 23,565 | 19,964 |
Other | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 606 | 618 |
Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 193,981 | 178,476 |
Fair Value, Measurements, Recurring | Equity | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 177 | 1,846 |
Fair Value, Measurements, Recurring | U.S. Government and federal agency | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 27,913 | 6,133 |
Fair Value, Measurements, Recurring | Agency mortgage-backed: residential | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 84,573 | 95,182 |
Fair Value, Measurements, Recurring | State and municipal | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 57,147 | 54,733 |
Fair Value, Measurements, Recurring | Corporate bonds | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 23,565 | 19,964 |
Fair Value, Measurements, Recurring | Other | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 606 | 618 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 177 | 1,846 |
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1) | Equity | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 177 | 1,846 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 193,198 | 176,012 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | U.S. Government and federal agency | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 27,913 | 6,133 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Agency mortgage-backed: residential | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 84,573 | 95,182 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | State and municipal | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 57,147 | 54,733 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 23,565 | 19,964 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | 606 | 618 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Other | Debt securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale securities | $606 | $618 |
Reconciliation_of_all_Assets_M
Reconciliation of all Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level 3 (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
State and Municipal Securities | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balances of recurring Level 3 assets at January 1 | ' | $1,173 |
Included in other comprehensive income (loss) | ' | ' |
Sales | ' | -1,173 |
Balance of recurring Level 3 assets at September 30 | ' | ' |
Other | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Balances of recurring Level 3 assets at January 1 | 618 | 606 |
Included in other comprehensive income (loss) | -12 | -11 |
Sales | ' | ' |
Balance of recurring Level 3 assets at September 30 | $606 | $595 |
Financial_Assets_Measured_at_F1
Financial Assets Measured at Fair Value on Non Recurring Basis (Detail) (Fair Value, Measurements, Nonrecurring, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other real estate owned, net | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | $20,257 | $22,323 |
Other real estate owned, net | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 537 | 602 |
Other real estate owned, net | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 14,208 | 15,175 |
Other real estate owned, net | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 509 | 195 |
Other real estate owned, net | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 6,346 | 5,376 |
Impaired Loans | Commercial | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 3,289 | 3,799 |
Impaired Loans | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 18,928 | 23,912 |
Impaired Loans | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 5,412 | 5,722 |
Impaired Loans | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 65,080 | 72,793 |
Impaired Loans | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 12,095 | 13,263 |
Impaired Loans | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 26,127 | 25,094 |
Impaired Loans | Consumer | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 66 | 74 |
Impaired Loans | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 515 | 513 |
Impaired Loans | Agriculture | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | 5 |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other real estate owned, net | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other real estate owned, net | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other real estate owned, net | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other real estate owned, net | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Other real estate owned, net | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Consumer | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Quoted Prices In Active Markets for Identical Assets (Level 1) | Impaired Loans | Agriculture | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Other real estate owned, net | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Significant Other Observable Inputs (Level 2) | Other real estate owned, net | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Significant Other Observable Inputs (Level 2) | Other real estate owned, net | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Significant Other Observable Inputs (Level 2) | Other real estate owned, net | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Significant Other Observable Inputs (Level 2) | Other real estate owned, net | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Consumer | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Other Observable Inputs (Level 2) | Impaired Loans | Agriculture | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | ' |
Significant Unobservable Inputs (Level 3) | Other real estate owned, net | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 20,257 | 22,323 |
Significant Unobservable Inputs (Level 3) | Other real estate owned, net | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 537 | 602 |
Significant Unobservable Inputs (Level 3) | Other real estate owned, net | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 14,208 | 15,175 |
Significant Unobservable Inputs (Level 3) | Other real estate owned, net | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 509 | 195 |
Significant Unobservable Inputs (Level 3) | Other real estate owned, net | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other Real Estate Owned | 6,346 | 5,376 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 3,289 | 3,799 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial Real Estate | Construction | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 18,928 | 23,912 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial Real Estate | Farmland | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 5,412 | 5,722 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Commercial Real Estate | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 65,080 | 72,793 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Residential Real Estate | Multi-Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 12,095 | 13,263 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Residential Real Estate | 1-4 Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 26,127 | 25,094 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Consumer | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 66 | 74 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Other | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | 515 | 513 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Agriculture | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans fair value | ' | $5 |
Qualitative_Information_About_
Qualitative Information About Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-Recurring Basis (Detail) (Fair Value, Measurements, Nonrecurring, USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Impaired Loans | Commercial | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Fair Value | $3,289 | $3,799 |
Valuation Technique(s) | 'Market value approach | 'Market value approach |
Unobservable Input(s) | 'Adjustment for receivables and inventory discounts | 'Adjustment for receivables and inventory discounts |
Impaired loans - Commercial, Capitalization rate | 24.00% | 24.00% |
Impaired Loans | Commercial | Minimum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Commercial, Capitalization rate | 16.00% | 16.00% |
Impaired Loans | Commercial | Maximum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Commercial, Capitalization rate | 32.00% | 32.00% |
Impaired Loans | Commercial Real Estate | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Fair Value | 89,420 | 89,461 |
Valuation Technique(s) | 'Sales comparison approach | 'Sales comparison approach |
Unobservable Input(s) | 'Adjustment for differences between the comparable sales | 'Adjustment for differences between the comparable sales |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 20.00% | 19.00% |
Impaired Loans | Commercial Real Estate | Minimum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 0.00% | 0.00% |
Impaired Loans | Commercial Real Estate | Maximum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 69.00% | 69.00% |
Impaired Loans | Residential Real Estate | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Fair Value | 38,222 | 38,357 |
Valuation Technique(s) | 'Sales comparison approach | 'Sales comparison approach |
Unobservable Input(s) | 'Adjustment for differences between the comparable sales | 'Adjustment for differences between the comparable sales |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 15.00% | 15.00% |
Impaired Loans | Residential Real Estate | Minimum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 0.00% | 0.00% |
Impaired Loans | Residential Real Estate | Maximum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 50.00% | 38.00% |
Other real estate owned, net | Commercial Real Estate | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Fair Value | 35,002 | 38,100 |
Valuation Technique(s) | 'Sales comparison approach | 'Sales comparison approach |
Unobservable Input(s) | 'Adjustment for differences between the comparable sales | 'Adjustment for differences between the comparable sales |
Impaired loans - Commercial, Capitalization rate | 11.00% | 12.00% |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 21.00% | 18.00% |
Other real estate owned, net | Commercial Real Estate | Income Approach Valuation Technique | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Valuation Technique(s) | 'Income comparison approach | 'Income comparison approach |
Unobservable Input(s) | 'Discount or capitalization rate | 'Discount or capitalization rate |
Other real estate owned, net | Commercial Real Estate | Minimum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Commercial, Capitalization rate | 7.00% | 9.00% |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 3.00% | 3.00% |
Other real estate owned, net | Commercial Real Estate | Maximum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Commercial, Capitalization rate | 16.00% | 16.00% |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 51.00% | 50.00% |
Other real estate owned, net | Residential Real Estate | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 12.00% | 9.00% |
Other real estate owned, net | Residential Real Estate | Minimum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 4.00% | 0.00% |
Other real estate owned, net | Residential Real Estate | Maximum | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Impaired loans - Residential real estate, Adjustment for differences between the comparable sales | 34.00% | 30.00% |
Other real estate owned, net | Residential Mortgage | ' | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' |
Fair Value | $6,855 | $5,571 |
Valuation Technique(s) | 'Sales comparison approach | 'Sales comparison approach |
Unobservable Input(s) | 'Adjustment for differences between the comparable sales | 'Adjustment for differences between the comparable sales |
Carrying_Amount_and_Estimated_
Carrying Amount and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial assets | ' | ' |
Securities available for sale | $193,981 | $178,476 |
Carrying Amount | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | 53,433 | 49,572 |
Securities available for sale | 193,981 | 178,476 |
Federal Home Loan Bank stock | 10,072 | 10,072 |
Mortgage loans held for sale | 123 | 507 |
Loans, net | 702,486 | 842,412 |
Accrued interest receivable | 3,964 | 5,138 |
Financial liabilities | ' | ' |
Deposits | 946,896 | 1,065,059 |
Securities sold under agreements to repurchase | 3,722 | 2,634 |
Federal Home Loan Bank advances | 4,741 | 5,604 |
Accrued interest payable | 2,375 | 2,104 |
Carrying Amount | Subordinated capital notes | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | 6,075 | 6,975 |
Carrying Amount | Junior subordinated debentures | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | 25,000 | 25,000 |
Quoted Prices In Active Markets for Identical Assets (Level 1) | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | 44,674 | 41,938 |
Securities available for sale | 177 | 1,846 |
Financial liabilities | ' | ' |
Deposits | 98,885 | 114,310 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | 8,759 | 7,634 |
Securities available for sale | 193,198 | 176,012 |
Mortgage loans held for sale | 123 | 507 |
Accrued interest receivable | 1,198 | 1,150 |
Financial liabilities | ' | ' |
Deposits | 848,738 | 955,216 |
Securities sold under agreements to repurchase | 3,722 | 2,634 |
Federal Home Loan Bank advances | 4,743 | 5,607 |
Accrued interest payable | 1,037 | 1,173 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Financial assets | ' | ' |
Securities available for sale | 606 | 618 |
Loans, net | 719,094 | 853,996 |
Accrued interest receivable | 2,766 | 3,988 |
Financial liabilities | ' | ' |
Accrued interest payable | 1,338 | 931 |
Significant Unobservable Inputs (Level 3) | Subordinated capital notes | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | 5,789 | 6,599 |
Significant Unobservable Inputs (Level 3) | Junior subordinated debentures | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | 13,550 | 13,821 |
Fair Value | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | 53,433 | 49,572 |
Securities available for sale | 193,981 | 178,476 |
Mortgage loans held for sale | 123 | 507 |
Loans, net | 719,094 | 853,996 |
Accrued interest receivable | 3,964 | 5,138 |
Financial liabilities | ' | ' |
Deposits | 947,623 | 1,069,526 |
Securities sold under agreements to repurchase | 3,722 | 2,634 |
Federal Home Loan Bank advances | 4,743 | 5,607 |
Accrued interest payable | 2,375 | 2,104 |
Fair Value | Subordinated capital notes | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | 5,789 | 6,599 |
Fair Value | Junior subordinated debentures | ' | ' |
Financial liabilities | ' | ' |
Subordinated capital notes | $13,550 | $13,821 |
Deferred_Tax_Assets_and_Liabil
Deferred Tax Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Net operating loss carry-forward | $25,993 | $15,051 |
Allowance for loan losses | 11,114 | 19,838 |
Other real estate owned write-down | 9,854 | 10,408 |
Alternative minimum tax credit carry-forward | 692 | 692 |
Net assets from acquisitions | 635 | 592 |
Other than temporary impairment on securities | 374 | 374 |
Net unrealized loss on securities available for sale | 968 | ' |
New market tax credit carry-forward | 208 | 208 |
Amortization of non-compete agreements | 17 | 19 |
Other | 981 | 936 |
Deferred Tax Assets, Gross, Total | 50,836 | 48,118 |
Deferred tax liabilities: | ' | ' |
FHLB stock dividends | 1,276 | 1,276 |
Fixed assets | 322 | 409 |
Originated mortgage servicing rights | 81 | 98 |
Net unrealized gain on securities available for sale | ' | 1,858 |
Other | 498 | 549 |
Deferred Tax Liabilities, Net, Total | 2,177 | 4,190 |
Net deferred tax assets before valuation allowance | 48,659 | 43,928 |
Valuation allowance | -48,659 | -43,928 |
Net deferred tax asset | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | Dec. 31, 2011 |
In Millions, unless otherwise specified | |
Income Taxes [Line Items] | ' |
Available carry-back amount | $40 |
Stock_Plans_and_Stock_Based_Co2
Stock Plans and Stock Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | ||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 31-May-06 | Sep. 30, 2013 | 16-May-12 | 15-May-06 | 31-May-06 | 31-May-06 | Sep. 30, 2013 | Feb. 23, 2006 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 31-May-13 | |
Unvested Shares | Unvested Shares | Unvested Shares | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Non-Employee Directors Stock Ownership Incentive Plan | 2006 Stock Incentive Plan | 2006 Stock Incentive Plan | 2006 Stock Incentive Plan | 2006 Stock Incentive Plan | 2006 Stock Incentive Plan | 2006 Stock Incentive Plan | |||
Non Employee Director | Employee | Director | Equity Option | Unvested Shares | Unvested Shares | Unvested Shares | Unvested Shares | Amendment | |||||||||
Minimum | Maximum | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized | ' | ' | ' | ' | ' | ' | ' | 400,000 | 100,000 | ' | ' | ' | 1,263,050 | ' | ' | ' | 800,000 |
Unvested shares granted | ' | ' | 245,909 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 793,095 | ' | ' | ' |
Shares remaining available for issue | 113,357 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 343,829 | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | '3 years | '10 years | ' |
Term of options | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted shares award, fair market value | ' | ' | ' | ' | ' | ' | $25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of unvested shares issued | ' | ' | ' | 820,000 | 155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of unvested shares issued per weighted-average share | ' | ' | ' | $1.18 | $0.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation | $391,000 | $338,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Unvested_Share_Acti
Summary of Unvested Share Activity (Detail) (Unvested Shares, Stock Incentive Plan, USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Unvested Shares | Stock Incentive Plan | ' | ' |
Shares | ' | ' |
Outstanding, beginning | 153,316 | 96,688 |
Granted | 693,214 | 97,197 |
Vested | -22,113 | -27,362 |
Forfeited | -31,322 | -13,207 |
Outstanding, ending | 793,095 | 153,316 |
Weighted Average Grant Price | ' | ' |
Outstanding, beginning | $5.92 | $13.40 |
Granted | $1.18 | $1.74 |
Vested | $12.19 | $13.04 |
Forfeited | $6.84 | $15.22 |
Outstanding, ending | $1.57 | $5.92 |
Summary_of_Unvested_Share_Acti1
Summary of Unvested Share Activity for Non-Employee Directors (Detail) (Unvested shares, Non Employee Director, USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Unvested shares | Non Employee Director | ' | ' |
Shares | ' | ' |
Outstanding, beginning | 80,078 | 3,538 |
Granted | 182,355 | 93,943 |
Vested | -16,524 | -17,403 |
Forfeited | ' | ' |
Outstanding, ending | 245,909 | 80,078 |
Weighted Average Exercise Price | ' | ' |
Outstanding, beginning | $1.77 | $7.91 |
Granted | $0.85 | $1.65 |
Vested | $2.02 | $2.37 |
Forfeited | ' | ' |
Outstanding, ending | $1.07 | $1.77 |
Summary_of_Stock_Option_Activi
Summary of Stock Option Activity (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Options | ' | ' |
Outstanding, beginning | ' | 29,530 |
Forfeited | ' | ' |
Expired | ' | -29,530 |
Outstanding, ending | ' | ' |
Weighted Average Exercise Price | ' | ' |
Outstanding, beginning | ' | $19.88 |
Forfeited | ' | ' |
Expired | ' | $19.88 |
Outstanding, ending | ' | ' |
Unrecognized_Stock_Based_Compe
Unrecognized Stock Based Compensation Expense Related to Unvested Shares (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
October 2013 - December 2013 | $216 |
2014 | 522 |
2015 | 397 |
2016 | 240 |
2017 & thereafter | $41 |
Computation_of_Basic_and_Dilut
Computation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ' | ' | ' | ' | ' | ' |
Net income (loss) | $298 | ($27,732) | ($1,080) | ($26,079) | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Preferred stock dividends | 437 | 437 | 1,311 | 1,312 | ' | ' |
Accretion of Series A preferred stock discount | 45 | 44 | 135 | 134 | ' | ' |
Earnings (loss) allocated to unvested shares/Series C preferred | 16 | 1,264 | 174 | 1,095 | ' | ' |
Net income (loss) allocated to common shareholders, basic and diluted | -168 | -26,949 | -2,352 | -26,430 | 33,400 | 105,200 |
Basic | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | ' | ' |
Basic earnings (loss) per common share | ($0.01) | ($2.29) | ($0.20) | ($2.25) | ' | ' |
Diluted | ' | ' | ' | ' | ' | ' |
Add: Dilutive effects of assumed exercises of common and Preferred Series C stock warrants | ' | ' | ' | ' | ' | ' |
Weighted average common shares and potential common shares | 11,592,959 | 11,751,818 | 11,701,396 | 11,732,835 | ' | ' |
Diluted earnings (loss) per common share | ($0.01) | ($2.29) | ($0.20) | ($2.25) | ' | ' |
Unvested Shares | ' | ' | ' | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Earnings (loss) allocated to unvested shares/Series C preferred | -11 | -501 | -107 | -345 | ' | ' |
Unvested shares | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding | 776,774 | 218,505 | 535,224 | 153,306 | ' | ' |
Series C Preferred Stock | ' | ' | ' | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Earnings (loss) allocated to unvested shares/Series C preferred | ($5) | ($763) | ($67) | ($750) | ' | ' |
Basic | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding | 332,894 | 332,894 | 332,894 | 332,894 | ' | ' |
Common Stock and Series C Preferred Stock | Unvested shares | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' |
Weighted average common shares including unvested common shares outstanding | 12,702,627 | 12,303,217 | 12,569,514 | 12,219,035 | ' | ' |
Earnings_or_Loss_Per_Share_Add
Earnings or Loss Per Share - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Common Stock | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Warrant exercise price | $15.88 | $15.88 |
Nonvoting Common Stock | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Warrant exercise price | $11.50 | $11.50 |
Warrant | Common Stock | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Shares/warrants of common stock not considered in computing diluted earnings per share | 330,561 | 330,561 |
Warrant | Nonvoting Common Stock | ' | ' |
Earnings Per Share Disclosure [Line Items] | ' | ' |
Shares/warrants of common stock not considered in computing diluted earnings per share | 1,449,459 | 1,449,459 |
Capital_Requirements_and_Restr2
Capital Requirements and Restrictions on Retained Earnings - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Oct. 31, 2012 | Jun. 24, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 24, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 24, 2011 |
In Millions, unless otherwise specified | PBI Bank | PBI Bank | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | Consent order | ||
Construction and development loans | Construction and development loans | Construction and development loans | Non-owner occupied commercial real estate loans | Non-owner occupied commercial real estate loans | Non-owner occupied commercial real estate loans | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier I leverage ratio, regulatory minimum | 4.00% | 9.00% | ' | ' | 9.00% | 9.00% | ' | ' | ' | ' | ' | ' |
Total risk-based capital, regulatory minimum | 8.00% | 12.00% | ' | ' | 12.00% | 12.00% | ' | ' | ' | ' | ' | ' |
Minimum substandard asset subject to risk position reduction | ' | ' | ' | ' | ' | $1 | ' | ' | ' | ' | ' | ' |
Maximum concentration of loans to total risk based capital | ' | ' | ' | ' | ' | ' | 75.00% | 75.00% | 75.00% | 250.00% | 250.00% | 250.00% |
Maximum asset growth rate, quarterly | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' |
Maximum asset growth rate, annually | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' |
Tier 1 leverage ratio | ' | ' | 6.40% | 5.37% | ' | ' | ' | ' | ' | ' | ' | ' |
Total risk-based capital | ' | ' | 11.04% | 9.82% | ' | ' | ' | ' | ' | ' | ' | ' |
Ratios_of_Tier_One_Capital_and
Ratios of Tier One Capital and Total Capital to Risk-Adjusted Assets and Leverage Ratios (Detail) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Porter Bancorp | Porter Bancorp | PBI Bank | PBI Bank | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' | ' | ' | ' |
Tier I Capital, regulatory minimum | 4.00% | ' | ' | ' | ' | ' |
Total risk-based capital, regulatory minimum | 8.00% | 12.00% | ' | ' | ' | ' |
Tier I leverage ratio, regulatory minimum | 4.00% | 9.00% | ' | ' | ' | ' |
Tier I Capital, Well-Capitalized minimum | 6.00% | ' | ' | ' | ' | ' |
Total risk-based capital, Well-Capitalized minimum | 10.00% | ' | ' | ' | ' | ' |
Tier I leverage ratio, Well-Capitalized minimum | 5.00% | ' | ' | ' | ' | ' |
Tier 1 Capital | ' | ' | 7.19% | 6.46% | 8.94% | 7.71% |
Total risk-based capital | ' | ' | 10.78% | 9.81% | 11.04% | 9.82% |
Tier 1 leverage ratio | ' | ' | 5.15% | 4.50% | 6.40% | 5.37% |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 9 Months Ended | |||
Jun. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2010 | Jul. 16, 2013 | Jul. 16, 2013 | Jul. 16, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | |
Plaintiff | Scenario, Forecast | Scenario, Forecast | Scenario, Forecast | Clinton Group, Inc. | Minimum | Maximum | |||
Compensatory Damages | Punitive Damages | ||||||||
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued litigation liability | ' | $1,800,000 | ' | ' | ' | ' | ' | ' | ' |
Damages awarding to plaintiff | ' | ' | ' | ' | 1,515,000 | 5,500,000 | ' | ' | ' |
Total amount reinstated if the conveyance agreement is rescinded | ' | ' | ' | 26,000,000 | ' | ' | ' | ' | ' |
Number of Plaintiffs | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity and warrants issued in private placement | ' | ' | 32,000,000 | ' | ' | ' | 5,000,016 | ' | ' |
Loss contingency damage sought by plaintiff | ' | ' | ' | ' | ' | ' | ' | $4,500,000 | $5,000,016 |
Loss Contingency damage sought by plaintiff, description | ' | 'The plaintiff seeks damages in an amount in excess of $4,500,000, or the difference between the $5,000,016 purchase price and the value of the securities when sold by the plaintiff, plus interest at the applicable statutory rate, costs and reasonable attorneys' fees. | ' | ' | ' | ' | ' | ' | ' |