Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'Howard Bancorp Inc | ' |
Entity Central Index Key | '0001390162 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'HBMD | ' |
Entity Common Stock, Shares Outstanding | ' | 4,140,189 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $17,361 | $23,282 |
Federal funds sold | 310 | 12,454 |
Total cash and cash equivalents | 17,671 | 35,736 |
Securities available-for-sale, at fair value | 27,112 | 28,688 |
Nonmarketable equity securities | 2,700 | 2,282 |
Loans held for sale, at fair value | 38,669 | 3,298 |
Loans and leases, net of unearned income | 461,232 | 403,875 |
Allowance for credit losses | -3,018 | -2,506 |
Net loans and leases | 458,214 | 401,369 |
Bank premises and equipment, net | 11,521 | 10,842 |
Core deposit intangible | 798 | 342 |
Bank owned life insurance | 11,563 | 11,282 |
Other real estate owned | 2,472 | 2,377 |
Deferred income taxes | 1,018 | 1,125 |
Interest receivable and other assets | 2,630 | 2,577 |
Total assets | 574,368 | 499,918 |
LIABILITIES | ' | ' |
Noninterest-bearing deposits | 106,237 | 89,759 |
Interest-bearing deposits | 345,673 | 299,190 |
Total deposits | 451,910 | 388,949 |
Short-term borrowings | 51,956 | 45,658 |
Long-term borrowings | 19,000 | 16,000 |
Accrued expenses and other liabilities | 1,123 | 687 |
Total liabilities | 523,989 | 451,294 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock—par value $0.01 (liquidation preference of $1,000 per share) authorized 5,000,000; shares issued and outstanding 12,562 series AA at September 30, 2014 and December 31, 2013, net of issuance cost | 12,562 | 12,562 |
Common stock - par value of $0.01 authorized 10,000,000 shares; issued and outstanding 4,140,189 shares at September 30, 2014 and 4,095,650 December 31, 2013 | 41 | 41 |
Capital surplus | 38,217 | 37,607 |
Accumulated deficit | -445 | -1,590 |
Accumulated other comprehensive income | 4 | 4 |
Total shareholders’ equity | 50,379 | 48,624 |
Total liabilities and shareholders’equity | $574,368 | $499,918 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets [Parenthetical] (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, liquidation preference (in dollars per share) | $1,000 | $1,000 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 12,562 | 12,562 |
Preferred stock, shares outstanding | 12,562 | 12,562 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,140,189 | 4,095,650 |
Common stock, shares outstanding | 4,140,189 | 4,095,650 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST INCOME | ' | ' | ' | ' |
Interest and fees on loans | $5,776 | $4,627 | $16,038 | $12,713 |
Interest and dividends on securities | 28 | 16 | 86 | 57 |
Other interest income | 9 | 12 | 30 | 35 |
Total interest income | 5,813 | 4,655 | 16,154 | 12,805 |
INTEREST EXPENSE | ' | ' | ' | ' |
Deposits | 560 | 422 | 1,485 | 1,208 |
Short-term borrowings | 28 | 26 | 84 | 83 |
Long-term borrowings | 60 | 49 | 162 | 90 |
Total interest expense | 648 | 497 | 1,731 | 1,381 |
NET INTEREST INCOME | 5,165 | 4,158 | 14,423 | 11,424 |
Provision for credit losses | 2,068 | 140 | 2,570 | 666 |
Net interest income after provision for credit losses | 3,097 | 4,018 | 11,853 | 10,758 |
NONINTEREST INCOME | ' | ' | ' | ' |
Service charges on deposit accounts | 118 | 106 | 425 | 275 |
Realized and unrealized gains on mortgage banking activity | 1,388 | 35 | 2,864 | 195 |
Loss on the sale of other real estate owned | 0 | 0 | 0 | -37 |
Income from bank owned life insurance | 95 | 72 | 281 | 210 |
Other operating income | 574 | 106 | 1,287 | 319 |
Total noninterest income | 2,175 | 319 | 4,857 | 962 |
NONINTEREST EXPENSE | ' | ' | ' | ' |
Compensation and benefits | 2,790 | 1,905 | 8,456 | 5,260 |
Occupancy and equipment | 489 | 406 | 1,545 | 1,154 |
Amortization of core deposit intangible | 17 | 14 | 58 | 14 |
Marketing and business development | 400 | 153 | 1,120 | 464 |
Professional fees | 298 | 246 | 869 | 634 |
Data processing fees | 174 | 148 | 488 | 387 |
FDIC Assessment | 101 | 87 | 301 | 242 |
Provision for other real estate owned | 0 | 347 | 0 | 347 |
Other operating expense | 692 | 401 | 1,966 | 1,006 |
Total noninterest expense | 4,961 | 3,707 | 14,803 | 9,508 |
INCOME BEFORE INCOME TAXES | 311 | 630 | 1,907 | 2,212 |
Income tax expense | 75 | 223 | 668 | 808 |
NET INCOME | 236 | 407 | 1,239 | 1,404 |
Preferred stock dividends | 31 | 31 | 94 | 134 |
Net income available to common shareholders | $205 | $376 | $1,145 | $1,270 |
NET INCOME PER COMMON SHARE | ' | ' | ' | ' |
Basic (in dollars per share) | $0.05 | $0.09 | $0.28 | $0.31 |
Diluted (in dollars per share) | $0.05 | $0.09 | $0.28 | $0.31 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Income | $236 | $407 | $1,239 | $1,404 |
Other comprehensive income Investments available-for-sale: | ' | ' | ' | ' |
Unrealized holding losses | -2 | -1 | -1 | -21 |
Related income tax benefit | 1 | 0 | 1 | 9 |
Comprehensive income | $235 | $406 | $1,239 | $1,392 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated other comprehensive gain/loss [Member] |
In Thousands, except Share data, unless otherwise specified | ||||||
Balance at Dec. 31, 2012 | $46,721 | $12,562 | $40 | $37,484 | ($3,386) | $21 |
Balance (in shares) at Dec. 31, 2012 | ' | ' | 4,040,471 | ' | ' | ' |
Net income | 1,404 | 0 | 0 | 0 | 1,404 | 0 |
Net unrealized loss on securities | -12 | 0 | 0 | 0 | 0 | -12 |
Dividends paid on preferred stock | -134 | 0 | 0 | 0 | -134 | 0 |
Stock based compensation | 57 | 0 | 0 | 57 | 0 | 0 |
Balance at Sep. 30, 2013 | 48,036 | 12,562 | 40 | 37,541 | -2,116 | 9 |
Balance (in shares) at Sep. 30, 2013 | ' | ' | 4,040,471 | ' | ' | ' |
Balance at Dec. 31, 2013 | 48,624 | 12,562 | 41 | 37,607 | -1,590 | 4 |
Balance (in shares) at Dec. 31, 2013 | ' | ' | 4,095,650 | ' | ' | ' |
Net income | 1,239 | 0 | 0 | 0 | 1,239 | 0 |
Net unrealized loss on securities | 0 | 0 | 0 | 0 | 0 | ' |
Dividends paid on preferred stock | -94 | 0 | 0 | 0 | -94 | 0 |
Forfeited restricted shares | -34 | 0 | 0 | -34 | 0 | 0 |
Forfeited restricted shares (in shares) | ' | ' | -6,668 | ' | ' | ' |
Stock based compensation | 133 | 0 | 0 | 133 | 0 | 0 |
Issuance of common stock: | ' | ' | ' | ' | ' | ' |
Exercise of warrants | 470 | 0 | 0 | 470 | ' | ' |
Exercise of warrants (in shares) | ' | ' | 47,068 | ' | ' | ' |
Stock awards | 41 | 0 | 0 | 41 | 0 | 0 |
Stock awards (in shares) | ' | ' | 4,139 | ' | ' | ' |
Balance at Sep. 30, 2014 | $50,379 | $12,562 | $41 | $38,217 | ($445) | $4 |
Balance (in shares) at Sep. 30, 2014 | ' | ' | 4,140,189 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $1,239 | $1,404 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for credit losses | 2,570 | 666 |
Deferred income taxes (benefit) | 108 | -289 |
Provision for other real estate owned | 0 | 347 |
Depreciation | 537 | 441 |
Stock-based compensation | 141 | 57 |
Net accretion of investment securities | 0 | 16 |
Net amortization of intangible asset | 58 | 14 |
Loans originated for sale | -201,462 | -9,827 |
Proceeds from sales of loans | 168,956 | 10,856 |
Realized and unrealized gains on mortgage banking activity | -2,864 | -195 |
Loss on sales of other real estate owned, net | 0 | 37 |
Cash surrender value of BOLI | -281 | -210 |
Decrease in interest receivable | -148 | -16 |
Increase in interest payable | 53 | 36 |
Increase in other assets | -186 | -477 |
Increase (Decrease) in other liabilities | 372 | -86 |
Net cash (used in) provided by operating activities | -30,907 | 2,774 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Purchases of investment securities available-for-sale | -31,997 | -34,997 |
Proceeds from maturities of investment securities available-for-sale | 33,571 | 40,631 |
Net increase in loans and leases outstanding | -43,604 | -42,389 |
Purchase of bank owned life insurance | 0 | -8,000 |
Proceeds from the sale of other real estate owned | 0 | 141 |
Purchase of premises and equipment | -1,213 | -416 |
Branch acquisition (net of cash received) | 2,096 | -3,195 |
Net cash used in investing activities | -41,147 | -48,225 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Net increase in noninterest-bearing deposits | 16,477 | -4,685 |
Net increase in interest-bearing deposits | 27,837 | 14,376 |
Net increase in short-term borrowings | 6,299 | 12,947 |
Proceeds from issuance of long-term debt | 5,000 | 14,000 |
Repayment of long-term debt | -2,000 | -8,000 |
Net proceeds from exercise of warrants | 470 | 0 |
Cash dividends on preferred stock | -94 | -134 |
Net cash provided by financing activities | 53,989 | 28,504 |
Net decrease in cash and cash equivalents | -18,065 | -16,947 |
Cash and cash equivalents at beginning of period | 35,736 | 36,361 |
Cash and cash equivalents at end of period | 17,671 | 19,414 |
SUPPLEMENTAL INFORMATION | ' | ' |
Cash payments for interest | 1,678 | 848 |
Cash payments for income taxes | 370 | 707 |
Transferred from loans to other real estate owned | 95 | 0 |
BRANCH PURCHASE | ' | ' |
Tangible assets acquired (net of cash received) | 16,328 | 38,159 |
Identifiable intangible assets acquired | 513 | 376 |
Liabilities assumed | $18,826 | $35,340 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ' |
Note 1: Summary of Significant Accounting Policies | |
Nature of Operations | |
On December 15, 2005, Howard Bancorp, Inc. (“Bancorp”) acquired all of the stock and became the holding company of Howard Bank (the “Bank”) pursuant to the Plan of Reorganization approved by the shareholders of the Bank and by federal and state regulatory agencies. Each share of Bank common stock was converted into two shares of Bancorp common stock effected by the filing of Articles of Exchange on that date, and the shareholders of the Bank became the shareholders of Bancorp. The Bank has four subsidiaries, three of which hold foreclosed real estate and the other owns and manages real estate that is used as a branch location and has office and retail space. The accompanying consolidated financial statements of Bancorp and its wholly-owned subsidiary bank (collectively the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These consolidated financial statements included herein are unaudited; however in the opinion of management, present a fair representation of the Company’s financial condition, results of operations, and cash flows for the periods presented. The Company believes that the disclosures are adequate to make the information presented not misleading. The balances as of December 31, 2013 have been derived from audited financial statements. Other than the application of the fair value option to loans held for sale there have been no significant changes to the Company’s accounting policies as disclosed in Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results of operations to be expected for the remainder of the year or any other period. | |
Bancorp was incorporated in April of 2005 under the laws of the State of Maryland and is a bank holding company registered under the Bank Holding Company Act of 1956. Bancorp is a single bank holding company with one subsidiary, Howard Bank, which operates as a state trust company with commercial banking powers regulated by the Maryland Office of the Commissioner of Financial Regulation (the “Commissioner”). | |
The Company is a diversified financial services company providing commercial banking, mortgage banking and consumer finance through banking branches, the internet and other distribution channels to businesses, business owners, professionals and other consumers located primarily in the Greater Baltimore Metropolitan Area. | |
The following is a description of the Company’s significant accounting policies. | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of Bancorp, its subsidiary bank and the Bank’s subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications may have been made to the prior year’s consolidated financial statements to conform to current period presentation. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near-term relate to the determination of the allowance for credit losses, other-than-temporary impairment of investment securities, determination of fair value for financial instruments, deferred income taxes and share-based compensation. | |
Loans Held for Sale | |
During the quarter ended September 30, 2014 the Company elected to apply the fair value option under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 825-10 “Recognition and Measurement of Financial Assets and Financial Liabilities” to loans held for sale. As such, mortgage loans originated and intended for sale into the secondary market are carried at fair value. Fair value is determined based on outstanding investor commitments, and in the absence of such commitments, on current investor yield requirements or third party pricing models. This election was made in order to better align the timing and recognition of the revenues generated with the related costs associated with mortgage loans originated with the intent to sell at the measurement date. Prior to this election, loans were originated and recorded at cost as of the measurement date, and related gains or losses were not recorded until the loan was sold. The effect of implementing the fair value for mortgage loans held for sale during the second quarter accelerated mortgage related revenues by $836 thousand through September 30, 2014. | |
The Company sells its mortgage loans to third party investors servicing released. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company. Unrealized and realized gains on loan sales are determined using the specific identification method and are recognized through mortgage banking activity in the Consolidated Statement of Operations. | |
Segment Information | |
The Company has one reportable segment, “Community Banking.” All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Bank to fund itself with deposits and other borrowings and manage interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Company as one segment or unit. | |
New Accounting Pronouncements | |
ASU No. 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). The guidance clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014, and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations. | |
ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance states an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in this Update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2016. The adoption of this guidance is not expected to have a material impact on its financial position or results of operations. | |
ASU No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting and for repurchase financing arrangements; require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments in this Update require two new disclosures for certain transactions. First to disclose information about certain transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the same counterparty. Secondly to disclose information about repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The amendments of ASU 2014-11 are effective for interim and annual periods beginning after December 15, 2014. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations | |
ASU No. 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force). The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Guidance in Topic 718 as it relates to awards with performance conditions that affect vesting should be applied to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. As indicated in the definition of vest, the stated vesting period (which includes the period in which the performance target could be achieved) may differ from the requisite service period. The amendments of ASU 2014-12 are effective for interim and annual periods beginning after December 15, 2014. | |
Investment_Securities
Investment Securities | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||||||||||||||||
Equity Method Investments Disclosure [Text Block] | ' | |||||||||||||||||||||||||
Note 2: Investment Securities | ||||||||||||||||||||||||||
The amortized cost and estimated fair values of investments available for sale are as follows: | ||||||||||||||||||||||||||
(in thousands) | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||||
Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | |||||||||||||||||||
U.S. Government | ||||||||||||||||||||||||||
Agencies | $ | 22,998 | $ | 1 | $ | - | $ | 22,999 | $ | 28,522 | $ | 1 | $ | 2 | $ | 28,521 | ||||||||||
Treasuries | 3,999 | - | - | 3,999 | - | - | - | - | ||||||||||||||||||
Mortgage-backed | 108 | 6 | - | 114 | 157 | 10 | - | 167 | ||||||||||||||||||
$ | 27,105 | $ | 7 | $ | - | $ | 27,112 | $ | 28,679 | $ | 11 | $ | 2 | $ | 28,688 | |||||||||||
There have not been any individual securities with an unrealized loss position for a period greater than one year as of either September 30, 2014 or December 31, 2013. Gross unrealized losses and fair value by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2013 are presented below: | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
(in thousands) | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||
U.S. Government agencies | $ | 15,994 | $ | 2 | $ | - | $ | - | $ | 15,994 | $ | 2 | ||||||||||||||
Mortgage-backed | - | - | - | - | - | - | ||||||||||||||||||||
$ | 15,994 | $ | 2 | $ | - | $ | - | $ | 15,994 | $ | 2 | |||||||||||||||
As of September 30, 2014, there were no gross unrealized losses. | ||||||||||||||||||||||||||
The unrealized losses that existed were a result of market changes in interest rates since the original purchase. Management systematically evaluates investment securities for other-than-temporary declines in fair value on a quarterly basis. This analysis requires management to consider various factors, which include (1) duration and magnitude of the decline in value, (2) the financial condition of the issuer or issuers and (3) structure of the security. | ||||||||||||||||||||||||||
An impairment loss is recognized in earnings if any of the following are true: (1) the Company intends to sell the debt security; (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) the Company does not expect to recover the entire amortized cost basis of the security. In situations where the Company intends to sell or when it is more likely than not that the Company will be required to sell the security, the entire impairment loss must be recognized in earnings. In all other situations, only the portion of the impairment loss representing the credit loss must be recognized in earnings, with the remaining portion being recognized in shareholders’ equity as a component of other comprehensive income, net of deferred tax. | ||||||||||||||||||||||||||
The amortized cost and estimated fair values of investments available for sale by contractual maturity are shown below: | ||||||||||||||||||||||||||
(in thousands) | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Amortized | Estimated Fair | Amortized | Estimated Fair | |||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||
Amounts maturing: | ||||||||||||||||||||||||||
One year or less | $ | 26,998 | $ | 26,999 | $ | 28,522 | $ | 28,521 | ||||||||||||||||||
After one through five years | 22 | 23 | 51 | 54 | ||||||||||||||||||||||
After five through ten years | 85 | 90 | 106 | 113 | ||||||||||||||||||||||
After ten years | - | - | - | - | ||||||||||||||||||||||
$ | 27,105 | $ | 27,112 | $ | 28,679 | $ | 28,688 | |||||||||||||||||||
There were no sales of investment securities during the nine months ended September 30, 2014 or in 2013. At September 30, 2014 and December 31, 2013, $19.7 million and $20.7 million fair value of securities, respectively, were pledged as collateral for repurchase agreements. The outstanding balance of no single issuer, except for U. S. Government and U. S. Government agency securities, exceeded ten percent of shareholders’ equity at either September 30, 2014 or December 31, 2013. | ||||||||||||||||||||||||||
Loans_and_Leases
Loans and Leases | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Receivables [Abstract] | ' | |||||||||||
Financing Receivables [Text Block] | ' | |||||||||||
Note 3: Loans and Leases | ||||||||||||
The Company makes loans to customers primarily in the Greater Baltimore Maryland metropolitan area, and surrounding communities. A substantial portion of the Company’s loan portfolio consists of loans to businesses secured by real estate and/or other business assets. | ||||||||||||
The loan portfolio segment balances at September 30, 2014 and December 31, 2013 are presented in the following table: | ||||||||||||
September 30, | December 31, | |||||||||||
(in thousands) | 2014 | % of Total | 2013 | % of Total | ||||||||
Real estate | ||||||||||||
Construction and land | $ | 62,649 | 13.6 | % | $ | 50,884 | 12.6 | % | ||||
Residential - first lien | 61,560 | 13.3 | 39,249 | 9.7 | ||||||||
Residential - junior lien | 11,881 | 2.6 | 8,266 | 2 | ||||||||
Total residential real estate | 73,441 | 15.9 | 47,515 | 11.7 | ||||||||
Commercial - owner occupied | 94,517 | 20.5 | 90,333 | 22.4 | ||||||||
Commercial - non-owner occupied | 116,820 | 25.3 | 113,559 | 28.1 | ||||||||
Total commercial real estate | 211,337 | 45.8 | 203,892 | 50.5 | ||||||||
Total real estate loans | 347,427 | 75.3 | 302,291 | 74.8 | ||||||||
Commercial loans and leases | 112,357 | 24.4 | 100,410 | 24.9 | ||||||||
Consumer | 1,448 | 0.3 | 1,174 | 0.3 | ||||||||
Total loans | $ | 461,232 | 100 | % | $ | 403,875 | 100 | % | ||||
There were $38.7 million and $3.3 million in loans held for sale at September 30, 2014 and at December 31, 2013, respectively. | ||||||||||||
Credit_Quality_Assessment
Credit Quality Assessment | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||
Allowance for Credit Losses [Text Block] | ' | |||||||||||||||||||||||||
Note 4: Credit Quality Assessment | ||||||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||||
The following table provides information on the activity in the allowance for credit losses by the respective loan portfolio segment for the nine months and three months ended September 30, 2014 and September 30, 2013: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 122 | $ | 200 | $ | 34 | $ | 131 | $ | 541 | $ | 1,464 | $ | 14 | $ | 2,506 | ||||||||||
Charge-offs | - | - | - | - | - | -2,115 | - | -2,115 | ||||||||||||||||||
Recoveries | - | - | - | - | 4 | 53 | - | 57 | ||||||||||||||||||
Provision for credit losses | -13 | 5 | -11 | 195 | 4 | 2,393 | -3 | 2,570 | ||||||||||||||||||
Ending balance | $ | 109 | $ | 205 | $ | 23 | $ | 326 | $ | 549 | $ | 1,795 | $ | 11 | $ | 3,018 | ||||||||||
Three months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 159 | $ | 196 | $ | 17 | $ | 138 | $ | 661 | $ | 1,871 | $ | 11 | $ | 3,053 | ||||||||||
Charge-offs | - | - | - | - | - | -2,115 | - | -2,115 | ||||||||||||||||||
Recoveries | - | - | - | - | - | 12 | - | 12 | ||||||||||||||||||
Provision for credit losses | -50 | 9 | 6 | 188 | -112 | 2,027 | - | 2,068 | ||||||||||||||||||
Ending balance | $ | 109 | $ | 205 | $ | 23 | $ | 326 | $ | 549 | $ | 1,795 | $ | 11 | $ | 3,018 | ||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | - | 72 | - | 72 | ||||||||||||||||||
collectively evaluated for impairment | 109 | 205 | 23 | 326 | 549 | 1,723 | 11 | 2,946 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Ending balance | 62,649 | 61,560 | 11,881 | 94,517 | 116,820 | 112,357 | 1,448 | 461,232 | ||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | 810 | 314 | - | - | 2,702 | 1,649 | - | 5,475 | ||||||||||||||||||
collectively evaluated for impairment | 61,839 | 61,246 | 11,881 | 94,517 | 114,118 | 110,708 | 1,448 | 455,757 | ||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 127 | $ | 204 | $ | 22 | $ | 650 | $ | 505 | $ | 1,227 | $ | 29 | $ | 2,764 | ||||||||||
Charge-offs | - | -183 | - | - | -2 | -202 | - | -387 | ||||||||||||||||||
Recoveries | - | - | - | - | 30 | 72 | - | 102 | ||||||||||||||||||
Provision for credit losses | -20 | 138 | - | -70 | 241 | 393 | -16 | 666 | ||||||||||||||||||
Ending balance | $ | 107 | $ | 159 | $ | 22 | $ | 580 | $ | 774 | $ | 1,490 | $ | 13 | $ | 3,145 | ||||||||||
Three months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 122 | $ | 133 | $ | 22 | $ | 663 | $ | 502 | $ | 1,482 | $ | 27 | $ | 2,951 | ||||||||||
Charge-offs | - | - | - | - | -2 | - | - | -2 | ||||||||||||||||||
Recoveries | - | - | - | - | - | 56 | - | 56 | ||||||||||||||||||
Provision for credit losses | -15 | 26 | - | -83 | 274 | -48 | -14 | 140 | ||||||||||||||||||
Ending balance | $ | 107 | $ | 159 | $ | 22 | $ | 580 | $ | 774 | $ | 1,490 | $ | 13 | $ | 3,145 | ||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | 373 | 715 | - | 1,088 | ||||||||||||||||||
collectively evaluated for impairment | 107 | 159 | 22 | 580 | 401 | 775 | 13 | 2,057 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Ending balance | 49,390 | 36,149 | 8,244 | 89,008 | 116,306 | 101,463 | 948 | 401,508 | ||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | 3,098 | 3,403 | - | 6,501 | ||||||||||||||||||
collectively evaluated for impairment | 49,390 | 36,149 | 8,244 | 89,008 | 113,208 | 98,060 | 948 | 395,007 | ||||||||||||||||||
When potential losses are identified, a specific provision and/or charge-off may be taken, based on the then current likelihood of repayment, that is at least in the amount of the collateral deficiency, and any potential collection costs, as determined by the independent third party appraisal. | ||||||||||||||||||||||||||
All loans that are considered impaired are subject to the completion of an impairment analysis. This analysis highlights any potential collateral deficiencies. A specific amount of impairment is established based on the Company’s calculation of the probable loss inherent in the individual loan. The actual occurrence and severity of losses involving impaired credits can differ substantially from estimates. | ||||||||||||||||||||||||||
Credit risk profile by portfolio segment based upon internally assigned risk assignments are presented below: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Credit quality indicators: | ||||||||||||||||||||||||||
Not classified | $ | 61,839 | $ | 61,246 | $ | 11,881 | $ | 94,517 | $ | 114,118 | $ | 110,709 | $ | 1,448 | $ | 455,758 | ||||||||||
Special mention | - | - | - | - | - | - | - | - | ||||||||||||||||||
Substandard | 810 | 314 | - | - | 2,702 | 1,648 | - | 5,474 | ||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | 62,649 | $ | 61,560 | $ | 11,881 | $ | 94,517 | $ | 116,820 | $ | 112,357 | $ | 1,448 | $ | 461,232 | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Credit quality indicators: | ||||||||||||||||||||||||||
Not classified | $ | 50,884 | $ | 38,918 | $ | 8,266 | $ | 90,333 | $ | 113,301 | $ | 97,817 | $ | 1,174 | $ | 400,693 | ||||||||||
Special mention | - | - | - | - | - | - | - | - | ||||||||||||||||||
Substandard | - | 331 | - | - | 258 | 2,593 | - | 3,182 | ||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | 50,884 | $ | 39,249 | $ | 8,266 | $ | 90,333 | $ | 113,559 | $ | 100,410 | $ | 1,174 | $ | 403,875 | ||||||||||
· | Special mention - A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. | |||||||||||||||||||||||||
· | Substandard - Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||
· | Doubtful - Loans classified doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. | |||||||||||||||||||||||||
Loans classified special mention, substandard, doubtful or loss are reviewed at least quarterly to determine their appropriate classification. All commercial loan relationships are reviewed annually. Non-classified residential mortgage loans and consumer loans are not evaluated unless a specific event occurs to raise the awareness of a possible credit deterioration. | ||||||||||||||||||||||||||
An aged analysis of past due loans is as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Analysis of past due loans: | ||||||||||||||||||||||||||
Accruing loans current | $ | 61,505 | $ | 60,928 | $ | 11,827 | $ | 94,517 | $ | 116,670 | $ | 111,165 | $ | 1,448 | $ | 458,060 | ||||||||||
Accruing loans past due: | ||||||||||||||||||||||||||
31-59 days past due | - | - | 54 | - | - | 120 | - | 174 | ||||||||||||||||||
60-89 days past due | 334 | 318 | - | - | - | - | - | 652 | ||||||||||||||||||
Greater than 90 days past due | - | - | - | - | 150 | - | - | 150 | ||||||||||||||||||
Total past due | 334 | 318 | 54 | - | 150 | 120 | - | 976 | ||||||||||||||||||
Non-accrual loans | 810 | 314 | - | - | - | 1,072 | - | 2,196 | ||||||||||||||||||
Total loans | $ | 62,649 | $ | 61,560 | $ | 11,881 | $ | 94,517 | $ | 116,820 | $ | 112,357 | $ | 1,448 | $ | 461,232 | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Analysis of past due loans: | ||||||||||||||||||||||||||
Accruing loans current | $ | 50,884 | $ | 38,025 | $ | 8,266 | $ | 90,333 | $ | 113,142 | $ | 97,127 | $ | 1,174 | $ | 398,951 | ||||||||||
Accruing loans past due: | ||||||||||||||||||||||||||
31-59 days past due | - | 570 | - | - | - | 150 | - | 720 | ||||||||||||||||||
60-89 days past due | - | 323 | - | - | - | 244 | - | 567 | ||||||||||||||||||
Greater than 90 days past due | - | - | - | - | 159 | 296 | - | 455 | ||||||||||||||||||
Total past due | - | 893 | - | - | 159 | 690 | - | 1,742 | ||||||||||||||||||
Non-accrual loans | - | 331 | - | - | 258 | 2,593 | - | 3,182 | ||||||||||||||||||
Total loans | $ | 50,884 | $ | 39,249 | $ | 8,266 | $ | 90,333 | $ | 113,559 | $ | 100,410 | $ | 1,174 | $ | 403,875 | ||||||||||
Total loans either in non-accrual status or in excess of ninety days delinquent totaled $2.3 million or .51% of total loans outstanding as of September 30, 2014, which represents a decrease from $3.6 million as of December 31, 2013. | ||||||||||||||||||||||||||
The impaired loans at September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | & land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Impaired loans: | ||||||||||||||||||||||||||
Recorded investment | $ | 810 | $ | 314 | $ | - | $ | - | $ | 2,702 | $ | 1,649 | $ | - | $ | 5,475 | ||||||||||
With an allowance recorded | - | - | - | - | - | 188 | - | 188 | ||||||||||||||||||
With no related allowance recorded | 810 | 314 | - | - | 2,702 | 1,461 | - | 5,287 | ||||||||||||||||||
Related allowance | - | - | - | - | - | 72 | - | 72 | ||||||||||||||||||
Unpaid principal | 1,316 | 314 | - | - | 2,701 | 1,703 | - | 6,034 | ||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Average balance of impaired loans | 760 | 329 | - | - | 2,717 | 2,454 | - | 6,260 | ||||||||||||||||||
Interest income recognized | 24 | 13 | - | - | 149 | 105 | - | 291 | ||||||||||||||||||
Three months ended | ||||||||||||||||||||||||||
Average balance of impaired loans | 810 | 328 | - | - | 2,706 | 2,416 | - | 6,260 | ||||||||||||||||||
Interest income recognized | 24 | 4 | - | - | 50 | 22 | - | 100 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | & land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Impaired loans: | ||||||||||||||||||||||||||
Recorded investment | $ | - | $ | 331 | $ | - | $ | - | $ | 2,984 | $ | 2,975 | $ | - | $ | 6,290 | ||||||||||
With an allowance recorded | - | 331 | - | - | 258 | 677 | - | 1,266 | ||||||||||||||||||
With no related allowance recorded | - | - | - | - | 2,726 | 2,298 | - | 5,024 | ||||||||||||||||||
Related allowance | - | 4 | - | - | 31 | 224 | - | 259 | ||||||||||||||||||
Unpaid principal | - | 331 | - | - | 2,984 | 2,978 | - | 6,293 | ||||||||||||||||||
Average balance of impaired loans | - | 333 | - | - | 2,994 | 3,706 | - | 7,033 | ||||||||||||||||||
Interest income recognized | - | 15 | - | - | 208 | 120 | - | 343 | ||||||||||||||||||
Nonaccrual loans included in impaired loans totaled $2.2 million and $3.2 million at September 30, 2014 and December 31, 2013, respectively. Interest income that would have been recorded if nonaccrual loans had been current and in accordance with their original terms was $104 thousand for the first nine months of 2014. | ||||||||||||||||||||||||||
Management routinely evaluates other real estate owned (“OREO”) based upon periodic appraisals. For the nine months ended September 30, 2014 and 2013 there were no additional valuation allowances recorded as the current appraised value was sufficient to cover the recorded OREO amount. There were no new loans transferred to OREO during the nine months ended September 30, 2013 and one new loan was transferred to OREO during the nine months ended September 30, 2014. | ||||||||||||||||||||||||||
For the first nine months of 2014, the Company did not sell any properties held as OREO and for the first nine months of 2013 sold one property totaling $178 thousand. | ||||||||||||||||||||||||||
The trouble debt restructured loans (“TDRs”) at September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Number | Non-Accrual | Number | Accrual | Total | ||||||||||||||||||||||
(dollars in thousands) | of Loans | Status | of Loans | Status | TDRs | |||||||||||||||||||||
Commercial loans | 6 | $ | 758 | 1 | $ | 228 | $ | 986 | ||||||||||||||||||
Residential first liens | 1 | 314 | - | - | 314 | |||||||||||||||||||||
7 | $ | 1,072 | 1 | $ | 228 | $ | 1,300 | |||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Number | Non-Accrual | Number | Accrual | Total | ||||||||||||||||||||||
(dollars in thousands) | of Loans | Status | of Loans | Status | TDRs | |||||||||||||||||||||
Commercial loans | 6 | $ | 861 | - | $ | - | $ | 861 | ||||||||||||||||||
A summary of TDR modifications outstanding and performance under modified terms are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Not Performing | Performing | |||||||||||||||||||||||||
to Modified | to Modified | Total | ||||||||||||||||||||||||
(in thousands) | Terms | Terms | TDRs | |||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||
Forberance | $ | 758 | $ | - | $ | 758 | ||||||||||||||||||||
Extension or other modification | - | 228 | 228 | |||||||||||||||||||||||
Total commercial | 758 | 228 | 986 | |||||||||||||||||||||||
Residential first liens | ||||||||||||||||||||||||||
Extension or other modification | 314 | - | 314 | |||||||||||||||||||||||
Total residential first liens | 314 | - | 314 | |||||||||||||||||||||||
Total trouble debt restructure loans | $ | 1,072 | $ | 228 | $ | 1,300 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Not Performing | Performing | |||||||||||||||||||||||||
to Modified | to Modified | Total | ||||||||||||||||||||||||
(in thousands) | Terms | Terms | TDRs | |||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||
Forberance | $ | 861 | $ | - | $ | 861 | ||||||||||||||||||||
Total commercial | $ | 861 | $ | - | $ | 861 | ||||||||||||||||||||
There were two new loans restructured in the first nine months of 2014. | ||||||||||||||||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' |
Note 5: Derivative Financial Instruments | |
The Company enters into commitments to originate residential mortgage loans whereby the interest rate on the loan is determined prior to funding (i.e. rate lock commitment). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. The period of time between issuance of a loan commitment and closing and sale of the loan generally ranges from 15 to 60 days. Interest rate lock commitments are recorded at fair value in accordance with ASC 815 “Derivatives and Hedging” and are recorded in other assets on the consolidated balance sheet. The Company protects itself from changes in interest rates through the use of best efforts forward delivery commitments, whereby the Company commits to sell a loan at a premium at the time the borrower commits to an interest rate with the intent that the buyer has assumed interest rate risk on the loan. | |
At September 30, 2014 the Bank had derivative financial instruments resulting from the issuance of $14.3 million in interest rate lock commitments. The net fair value of these derivative instruments at September 30, 2014 was $131 thousand included in other assets. There were no derivative instruments in 2013. | |
Intangibles
Intangibles | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||||||
Note 6: Intangibles | |||||||||||||
The gross carrying amount and accumulated amortization of intangible assets is as follows: | |||||||||||||
September 30, 2014 | Weighted | ||||||||||||
Gross | Net | Average | |||||||||||
Carrying | Accumulated | Carrying | Remaining Life | ||||||||||
(in thousands) | Amount | Amortization | Amount | (Years) | |||||||||
Amortizing intangible assets: | |||||||||||||
Core deposit intangible | $ | 889 | $ | 91 | $ | 798 | 8.26 | ||||||
Estimated future amortizing expense for amortization intangibles within the years ending December 31, are as follows: | |||||||||||||
(in thousands) | |||||||||||||
2014 | $ | 45 | |||||||||||
2015 | 170 | ||||||||||||
2016 | 130 | ||||||||||||
2017 | 101 | ||||||||||||
2018 | 81 | ||||||||||||
Thereafter | 271 | ||||||||||||
Total amortizing intangible assets | $ | 798 | |||||||||||
With the acquisition of a branch location in Havre de Grace, Maryland, in the third quarter of 2014, the Company added an additional $513 thousand in core deposit intangibles in addition to the amount previously reported. | |||||||||||||
Deposits
Deposits | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||||||
Note 7: Deposits | |||||||||||||
The following table details the composition of deposits and the related percentage mix of total deposits, respectively: | |||||||||||||
(dollars in thousands) | September 30, 2014 | December 31, 2013 | |||||||||||
% of | % of | ||||||||||||
Amount | Total | Amount | Total | ||||||||||
Noninterest-bearing demand | $ | 106,237 | 24 | % | $ | 89,759 | 23 | % | |||||
Interest-bearing checking | 34,897 | 7 | 31,443 | 8 | |||||||||
Money market accounts | 121,144 | 27 | 96,365 | 25 | |||||||||
Savings | 13,177 | 3 | 12,496 | 3 | |||||||||
Certificates of deposit $100,000 and over | 121,970 | 27 | 110,516 | 29 | |||||||||
Certificates of deposit under $100,000 | 54,485 | 12 | 48,370 | 12 | |||||||||
Total deposits | $ | 451,910 | 100 | % | $ | 388,949 | 100 | % | |||||
Stock_Options_Awards_and_Warra
Stock Options, Awards and Warrants | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Stock Options Awards and Warrants [Abstract] | ' | ||||||||||||
Stock Options Awards and Warrants [Text Block] | ' | ||||||||||||
Note 8: Stock Options, Awards and Warrants | |||||||||||||
The Company initially raised $4,775,000 of capital by selling to its founders investment units consisting of one share of common stock and a fully detachable warrant equal to .25 shares of common stock per unit. The warrants were issued in recognition of the financial and organizational risk undertaken by the purchasers in the organizational offering. The warrants were immediately exercisable upon issuance and expired ten (10) years from the date of issuance, which was in August 2014. The following table summarizes the warrant activity and related information for the periods ended: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Shares | Price | Shares | Price | ||||||||||
Balance at January 1, 2014 | 119,376 | $ | 10 | 119,376 | $ | 10 | |||||||
Granted | - | - | - | - | |||||||||
Exercised | -47,068 | 10 | - | - | |||||||||
Forfeited | -72,308 | 10 | - | - | |||||||||
Balance at September 30, 2014 | - | $ | - | 119,376 | $ | 10 | |||||||
Exercisable at September 30, 2014 | - | $ | - | 119,376 | $ | 10 | |||||||
The Company’s equity incentive plan provides for awards of nonqualified and incentive stock options as well as vested and non-vested common stock awards. Employee stock options can be granted with exercise prices at the fair market value (as defined within the plan) of the stock at the date of grant and with terms of up to ten years. Except as otherwise permitted in the plan, upon termination of employment for reasons other than retirement, permanent disability or death, the option exercise period is reduced or the options are canceled. | |||||||||||||
Stock awards may also be granted to non-employee members of the Board of Directors as compensation for attendance and participation at meetings of the Board of Directors and meetings of the various committees of the Board. For the nine months ended September 30, 2014 directors earned 3,817 shares of stock as compensation for their service. | |||||||||||||
Stock Options | |||||||||||||
The following table summarizes the Company’s stock option activity and related information for the periods ended: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Shares | Price | Shares | Price | ||||||||||
Balance at January 1, 2014 | 387,101 | $ | 11.19 | 395,351 | $ | 11.16 | |||||||
Granted | - | - | - | - | |||||||||
Exercised | - | - | - | - | |||||||||
Forfeited | -118,310 | 10.02 | -8,250 | 9.9 | |||||||||
Balance at September 30, 2014 | 268,791 | $ | 11.71 | 387,101 | $ | 11.19 | |||||||
Exercisable at September 30, 2014 | 268,791 | $ | 11.71 | 387,101 | $ | 11.19 | |||||||
Weighted average fair value of options granted during the year | $ | - | $ | - | |||||||||
The intrinsic value of a stock option is the amount that the market value of the underlying stock exceeds the exercise price of the option. Based upon a fair market value of $10.35 at September 30, 2014 the options outstanding had an aggregate intrinsic value of $65 thousand. There have not been any stock options exercised during 2014. | |||||||||||||
Restricted Stock | |||||||||||||
In the second quarter of 2013, 50,000 shares of restricted stock were granted, with 30,000 of the shares subject to a three year vesting schedule with one third of the shares vesting each year on the grant date anniversary. The remaining 20,000 awarded shares also are subject to a three year vesting schedule, however they only vest if certain annual performance measures are satisfactorily achieved. | |||||||||||||
A summary of the activity for the Company’s restricted stock for the periods indicated is presented in the following table: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||
Shares | Fair Value | Shares | Fair Value | ||||||||||
Balance at January 1, 2014 | 50,000 | $ | 6.89 | - | $ | - | |||||||
Granted | - | - | 50,000 | 6.89 | |||||||||
Vested | -10,002 | 6.91 | - | - | |||||||||
Forfeited | -6,668 | 6.85 | - | - | |||||||||
Balance at September 30, 2014 | 33,330 | $ | 6.89 | 50,000 | $ | 6.89 | |||||||
Of the 20,000 shares of restricted stock that were issued during 2013 with vesting subject to meeting certain performance measures, those measures were not achieved, and thus 6,668 shares were forfeited during the first nine months of 2014. At September 30, 2014, based on restricted stock awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested restricted stock awards was $149 thousand. This expense is expected to be recognized through 2016. | |||||||||||||
Restricted Stock Units | |||||||||||||
Restricted stock units are similar to restricted stock, except the recipient does not receive the stock immediately, but instead receives it according to a vesting plan and distribution schedule after achieving required performance milestones or upon remaining with the employer for a particular length of time. Each restricted stock unit that vests entitles the recipient to receive one share of common stock on a specified issuance date. The recipient does not have any stockholder rights, including voting, dividend or liquidation rights, with respect to the shares underlying awarded restricted stock units until the recipient becomes the record holder of those shares. | |||||||||||||
During the second and third quarters of 2014, 44,500 restricted stock units were granted, with 19,500 of the units subject to a three year vesting schedule with one third of the units vesting each year on the grant date anniversary. The remaining 25,000 awarded units also are subject to a three year vesting schedule, however they only vest if certain annual performance measures are satisfactorily achieved. | |||||||||||||
A summary of the activity for the Company’s restricted stock units for the periods indicated is presented in the following table: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||
Shares | Fair Value | Shares | Fair Value | ||||||||||
Balance at January 1, 2014 | - | $ | - | - | $ | - | |||||||
Granted | 44,500 | 11.21 | - | - | |||||||||
Vested | - | - | - | - | |||||||||
Forfeited | - | - | - | - | |||||||||
Balance at September 30, 2014 | 44,500 | $ | 11.21 | - | $ | - | |||||||
At September 30, 2014, based on restricted stock unit awards outstanding at that time, the total unrecognized pre-tax compensation expense related to unvested restricted stock unit awards was $431 thousand. This expense is expected to be recognized through 2017. | |||||||||||||
Profit_Sharing_Plan
Profit Sharing Plan | 9 Months Ended |
Sep. 30, 2014 | |
Profit Sharing Plan [Abstract] | ' |
Profit Sharing Plan [Text Block] | ' |
Note 9: Profit Sharing Plan | |
The Company sponsors a defined contribution retirement plan through a Section 401(k) profit sharing plan. Employees may contribute up to 15% of their pretax compensation. Participants are eligible for matching Company contributions up to 4% of eligible compensation dependent on the level of voluntary contributions. Company matching contributions totaled $204 thousand for the nine months ended September 30, 2014 and $103 thousand for the nine months ended September 30, 2013. The Company’s matching contributions vest immediately. The increase in the matching contributions for the Company was due to a large increase in the number of participants in the plan. With the growth in overall staff over the last year, the number of participants in the plan has increased from 60 participants at September 30, 2013 to 95 participants at September 30, 2014. | |
Income_per_Common_Share
Income per Common Share | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
Note 10: Income per Common Share | ||||||||||||||
The table below shows the presentation of basic and diluted income per common share for the periods ended: | ||||||||||||||
Nine months ended | Three months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Net income | $ | 1,239 | $ | 1,404 | $ | 236 | $ | 407 | ||||||
Preferred dividends | -94 | -134 | -31 | -31 | ||||||||||
Net income available to common shareholders (numerator) | $ | 1,145 | $ | 1,270 | $ | 205 | $ | 376 | ||||||
BASIC | ||||||||||||||
Basic average common shares outstanding (denominator) | 4,061,598 | 4,040,105 | 4,081,685 | 4,040,471 | ||||||||||
Basic income per common share | $ | 0.28 | $ | 0.31 | $ | 0.05 | $ | 0.09 | ||||||
DILUTED | ||||||||||||||
Average common shares outstanding | 4,061,598 | 4,040,105 | 4,081,685 | 4,040,471 | ||||||||||
Diluted effect of common stock equivalents | 75,865 | 34,338 | 91,916 | 51,371 | ||||||||||
Diluted average common shares outstanding (denominator) | 4,137,463 | 4,074,443 | 4,173,601 | 4,091,842 | ||||||||||
Diluted income per common share | $ | 0.28 | $ | 0.31 | $ | 0.05 | $ | 0.09 | ||||||
Common stock equivalents outstanding that are anti-dilutive and thus excluded from calculation of diluted number of shares presented above | 209,347 | 486,422 | 209,347 | 486,422 | ||||||||||
The decrease in the anti-dilutive common stock equivalents noted above resulted from the forfeiture of stock options and warrants that expired during the third quarter of 2014. | ||||||||||||||
RiskBased_Capital
Risk-Based Capital | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Risks and Uncertainties [Abstract] | ' | |||||||||||||||||
Concentration Risk Disclosure [Text Block] | ' | |||||||||||||||||
Note 11: Risk-Based Capital | ||||||||||||||||||
The Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) required that the federal regulatory agencies adopt regulations defining five capital tiers for banks: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Quantitative measures, established by the regulators to ensure capital adequacy, require that the Bank and Bancorp maintain minimum ratios (set forth below) of capital to risk-weighted assets. Under the guidelines, capital is compared to the relative risk related to the balance sheet. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | ||||||||||||||||||
Management believes that, as of September 30, 2014 and December 31, 2013 the Bank met all capital adequacy requirements to which it is subject. | ||||||||||||||||||
To be well | ||||||||||||||||||
capitalized under | ||||||||||||||||||
the FDICIA | ||||||||||||||||||
For capital | prompt corrective | |||||||||||||||||
Actual | adequacy purposes | action provisions | ||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||
As of September 30, 2014: | ||||||||||||||||||
Total capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 52,135 | 10.62 | % | $ | 39,289 | 8 | % | $ | 49,112 | 10 | % | ||||||
Howard Bancorp | $ | 52,395 | 10.69 | % | $ | 39,206 | 8 | % | N/A | |||||||||
Tier 1 capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 49,117 | 10 | % | $ | 19,645 | 4 | % | $ | 29,467 | 6 | % | ||||||
Howard Bancorp | $ | 49,377 | 10.08 | % | $ | 19,603 | 4 | % | N/A | |||||||||
Tier 1 capital (to average assets) | ||||||||||||||||||
(Leverage ratio) | ||||||||||||||||||
Howard Bank | $ | 49,117 | 9.05 | % | $ | 21,719 | 4 | % | $ | 27,149 | 5 | % | ||||||
Howard Bancorp | $ | 49,377 | 9.09 | % | $ | 21,739 | 4 | % | N/A | |||||||||
As of December 31, 2013: | ||||||||||||||||||
Total capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 49,902 | 11.85 | % | $ | 33,684 | 8 | % | $ | 42,105 | 10 | % | ||||||
Howard Bancorp | $ | 50,700 | 12.05 | % | $ | 33,668 | 8 | % | N/A | |||||||||
Tier 1 capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 47,396 | 11.26 | % | $ | 16,842 | 4 | % | $ | 25,263 | 6 | % | ||||||
Howard Bancorp | $ | 48,195 | 11.45 | % | $ | 16,834 | 4 | % | N/A | |||||||||
Tier 1 capital (to average assets) | ||||||||||||||||||
(Leverage ratio) | ||||||||||||||||||
Howard Bank | $ | 47,396 | 9.77 | % | $ | 19,406 | 4 | % | $ | 24,257 | 5 | % | ||||||
Howard Bancorp | $ | 48,195 | 9.93 | % | $ | 19,414 | 4 | % | N/A | |||||||||
The Bank is currently prohibited from paying dividends without the prior approval of the Commissioner. | ||||||||||||||||||
Preferred_Stock
Preferred Stock | 9 Months Ended |
Sep. 30, 2014 | |
Equity [Abstract] | ' |
Preferred Stock [Text Block] | ' |
Note 12: Preferred Stock | |
On September 22, 2011, we entered into a Securities Purchase Agreement with the Secretary of the Treasury, pursuant to which Bancorp issued and sold to the Treasury 12,562 shares of our Senior Non-Cumulative Perpetual Preferred Stock, Series AA, having a liquidation preference of $1,000 per share, for aggregate proceeds of $12,562,000. The issuance was pursuant to the Treasury’s Small Business Lending Fund (SBLF) program, a $30 billion fund established under the Small Business Jobs Act of 2010, which encourages lending to small businesses by providing capital to qualified community banks with assets of less than $10 billion. The Series AA Preferred Stock holders are entitled to receive non-cumulative dividends payable quarterly on each January 1, April 1, July 1 and October 1, beginning October 1, 2011. The dividend rate, which is calculated on the aggregate Liquidation Amount, was initially set at 5% per annum based upon the current level of “Qualified Small Business Lending” (“QSBL”) by the Bank and is currently set at 1%. The dividend rate for each dividend period may vary and is set based upon the percentage change in qualified lending between each dividend period and the baseline QSBL level established at the time the Agreement was entered into. Such dividend rate may vary from 1% per annum to 5% per annum for the second through tenth dividend periods and from 1% per annum to 7% per annum for the eleventh through the eighteenth dividend periods and though March 22, 2016 with respect to the nineteenth dividend period. If the Series AA Preferred Stock remains outstanding for more than four-and-one-half years, the dividend rate will be fixed at 9%. Prior to that time, in general, the dividend rate decreases as the level of the Bank’s QSBL increases. Such dividends are not cumulative, but Bancorp may only declare and pay dividends on its common stock (or any other equity securities junior to the Series AA Preferred Stock) if it has declared and paid dividends for the current dividend period on the Series AA Preferred Stock, and will be subject to other restrictions on its ability to repurchase or redeem other securities. In addition, if (i) we have not timely declared and paid dividends on the Series AA Preferred Stock for six dividend periods or more, whether or not consecutive, the Treasury (or any successor holder of Series AA Preferred Stock) may designate a representative to attend all meetings of Bancorp’s Board of Directors in a nonvoting observer capacity and Bancorp must give such representative copies of all notices, minutes, consents and other materials that Bancorp provide to its directors in connection with such meetings. | |
We may redeem the shares of Series AA Preferred Stock, in whole or in part, at any time at a redemption price equal to the sum of the Liquidation Amount per share and the per-share amount of any unpaid dividends for the then-current period, subject to any required prior approval by our primary federal banking regulator. | |
Fair_Value
Fair Value | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
Note 13: Fair Value | |||||||||||||||||
FASB ASC Topic 820 “Fair Value Measurements” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an 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. FASB ASC Topic 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | |||||||||||||||||
The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available for sale and loans held for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. | |||||||||||||||||
Under FASB ASC Topic 820, the Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine the fair value. These hierarchy levels are: | |||||||||||||||||
Level 1: Valuations for assets and liabilities traded in active exchange markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||
Level 2: Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||||||||||||||||
Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||||
A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. As required by FASB ASC Topic 820, the Company does not adjust the quoted price for such instruments. | |||||||||||||||||
The market value of rate lock commitments and best efforts contracts are not readily ascertainable with precision because rate lock commitments and best efforts contracts are not actively traded. These are generally classified within Level 1 or Level 2 of the fair value hierarchy. in accordance with ASC 815 “Derivatives and Hedging”. | |||||||||||||||||
The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid equities, state, municipal and provincial obligations, and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. | |||||||||||||||||
Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate is used. | |||||||||||||||||
Impaired loans are evaluated and valued at the time the loan is identified as impaired, at the lower of cost or market value. Market value is measured based on the value of the collateral securing these loans and is classified at a Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable. The value of real estate collateral is determined based on appraisal by qualified licensed appraisers hired by the Company. The value of business equipment, inventory and accounts receivable collateral is based on the net book value on the business' financial statements and, if necessary, discounted based on management's review and analysis. Appraised and reported values may be discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and client's business. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified above. | |||||||||||||||||
The following table sets forth the Company's financial assets and liabilities that were accounted for or disclosed at fair value on a recurring basis as of September 30, 2014 and December 31, 2013. | |||||||||||||||||
September 30, 2014 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Investment securities: | |||||||||||||||||
U.S. Goverment agencies | $ | 22,999 | $ | - | $ | 22,999 | $ | - | |||||||||
U.S. Goverment treasuries | 3,999 | - | 3,999 | - | |||||||||||||
Mortgage-backed securities | 114 | - | 114 | - | |||||||||||||
Loans held for sale | 38,669 | - | 38,669 | - | |||||||||||||
Rate lock commitments | 131 | - | 131 | - | |||||||||||||
December 31, 2013 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Investment securities: | |||||||||||||||||
U.S. Goverment agencies | $ | 28,521 | $ | - | $ | 28,521 | $ | - | |||||||||
Mortgage-backed securities | 167 | - | 167 | - | |||||||||||||
The following table sets forth the Company's financial assets and liabilities that were accounted for or disclosed at fair value on a nonrecurring basis at September 30, 2014 and December 31, 2013. | |||||||||||||||||
September 30, 2014 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Other real estate owned | $ | 2,472 | $ | - | $ | - | $ | 2,472 | |||||||||
Impaired loans: | |||||||||||||||||
Construction and land | 810 | - | - | 810 | |||||||||||||
Residential - first lien | 314 | - | - | 314 | |||||||||||||
Residential - junior lien | - | - | - | - | |||||||||||||
Commercial - owner occupied | - | - | - | - | |||||||||||||
Commercial - non-owner occupied | 2,702 | - | - | 2,702 | |||||||||||||
Commercial loans and leases | 1,461 | - | - | 1,461 | |||||||||||||
Consumer | - | - | - | - | |||||||||||||
December 31, 2013 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Other real estate owned | $ | 2,377 | $ | - | $ | - | $ | 2,377 | |||||||||
Impaired loans: | |||||||||||||||||
Construction and land | - | - | - | - | |||||||||||||
Residential - first lien | 327 | - | - | 327 | |||||||||||||
Residential - junior lien | - | - | - | - | |||||||||||||
Commercial - owner occupied | - | - | - | - | |||||||||||||
Commercial - non-owner occupied | 2,953 | - | - | 2,953 | |||||||||||||
Commercial loans and leases | 2,754 | - | - | 2,754 | |||||||||||||
Consumer | - | - | - | - | |||||||||||||
Loan impairment is measured using the present value of expected cash flows, the loan’s observable market price or the fair value of the collateral (less selling costs) if the loans are collateral dependent. The value of business equipment, inventory and accounts receivable collateral is based on net book value on the business’ financial statements and, if necessary, discounted based on management’s review and analysis. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the client and client’s business. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the factors identified above. Valuation techniques are consistent with those techniques applied in prior periods. | |||||||||||||||||
Other real estate owned (“OREO”) is adjusted to fair value upon transfer of the loans to OREO. Subsequently, OREO is carried at the lower of carrying value or fair value. The estimated fair value for other real estate owned included in Level 3 is determined by independent market based appraisals and other available market information, less cost to sell, that may be reduced further based on market expectations or an executed sales agreement. If the fair value of the collateral deteriorates subsequent to initial recognition, the Company records the OREO as a non-recurring Level 3 adjustment. Valuation techniques are consistent with those techniques applied in prior periods. | |||||||||||||||||
The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Fair value estimates are based on quoted market prices where available or calculated using present value techniques. Since quoted market prices are not available on many of our financial instruments, estimates may be based on the present value of estimated future cash flows and estimated discount rates. These financial assets and liabilities have not been recorded at fair value. | |||||||||||||||||
The following methods and assumptions were used to estimate the fair value of financial instruments where it is practical to estimate fair value: | |||||||||||||||||
Cash and cash equivalents: The fair value of cash and cash equivalents is estimated to approximate the carrying amounts. | |||||||||||||||||
Securities available-for-sale: Based on quoted market prices. If quoted market price is not available fair value is estimated using quoted market prices for similar securities. See Note 2 for additional information. | |||||||||||||||||
Nonmarketable equity securities: Because these securities are not marketable, the carrying amount approximates the fair value. | |||||||||||||||||
Loans held for sale: Loans held for sale are carried at fair value. Based on outstanding investor commitments or, in absent of such commitments, based on current investor yield requirements on third party models. | |||||||||||||||||
Derivative financial instruments: The market value of rate lock commitments and best efforts contracts are not readily ascertainable with precision because rate lock commitments and best efforts contracts are not actively traded | |||||||||||||||||
Loans: For variable rate loans the carrying amount approximates the fair value. For fixed rate loans the fair value is calculated by discounting estimated cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The estimated cash flows do not anticipate prepayments. | |||||||||||||||||
Deposits: The carrying amount of non-maturity deposits such as demand deposits, money market and saving deposits approximates the fair value. The fair value of deposits with predetermined maturity dates such as certificate of deposits is estimated by discounting the future cash flows using current rates of similar deposits with similar remaining maturities. | |||||||||||||||||
Short-term borrowing: Variable rate repurchase agreements carrying amounts approximate the fair values at the reporting date. | |||||||||||||||||
Long-term borrowing: Because the borrowing is a variable rate instrument, the carrying amount approximates the fair value. | |||||||||||||||||
Management has made estimates of fair value discount rates that it believes to be reasonable. However, because there is no market for many of these financial instruments, management has no basis to determine whether the fair value presented for loans would be indicative of the value negotiated in an actual sale. | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Quoted Price in | Significant | ||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | |||||||||||||
(in thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 17,671 | $ | 17,671 | $ | - | $ | 17,671 | $ | - | |||||||
Investment securities | 27,112 | 27,112 | - | 27,112 | - | ||||||||||||
Nonmarketable equity securities | 2,700 | 2,700 | - | 2,700 | - | ||||||||||||
Loans held for sale | 38,669 | 38,669 | - | 38,669 | - | ||||||||||||
Rate lock commitments | 131 | 131 | - | 131 | - | ||||||||||||
Loans and leases | 458,214 | 459,445 | - | - | 459,445 | ||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 451,910 | 452,668 | - | - | 452,668 | ||||||||||||
Short-term borrowings | 51,956 | 51,956 | - | 51,956 | - | ||||||||||||
Long-term borrowings | 19,000 | 18,992 | - | 18,992 | - | ||||||||||||
December 31, 2013 | |||||||||||||||||
Quoted Price in | Significant | ||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | |||||||||||||
(in thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 35,736 | $ | 35,736 | $ | - | $ | 35,736 | $ | - | |||||||
Investment securities | 28,688 | 28,688 | - | 28,688 | - | ||||||||||||
Nonmarketable equity securities | 2,282 | 2,282 | - | 2,282 | - | ||||||||||||
Loans held for sale | 3,298 | 3,298 | - | 3,298 | - | ||||||||||||
Loans and leases | 401,369 | 401,652 | - | - | 401,652 | ||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 388,949 | 389,220 | - | - | 389,220 | ||||||||||||
Short-term borrowings | 45,658 | 45,658 | - | 45,658 | - | ||||||||||||
Long-term borrowings | 16,000 | 16,008 | - | 16,008 | - | ||||||||||||
Acquisition
Acquisition | 9 Months Ended |
Sep. 30, 2014 | |
Acquisition [Abstract] | ' |
Acquisition [Text Block] | ' |
Note 14: Acquisition | |
On August 28, 2014, the Bank purchased a branch from NBRS Financial Bank (“NBRS”) its branch located at 800 Revolution Street, Havre de Grace, MD 21078. Pursuant to the transaction, the Bank acquired $16.1 million in loans and $18.8 million in deposits from NBRS, as well as the branch furniture and equipment at their book value. In connection with its purchase of the branch from NBRS, the Bank received a cash payment from NBRS of $1.98 million, which was net of a premium of approximately $384,000. | |
Subsequent_Event
Subsequent Event | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 15: Subsequent Event | |
On October 17, 2014, the Bank assumed all of the deposits and acquired essentially all of the assets of NBRS from the Federal Deposit Insurance Corporation (the “FDIC”), as receiver for NBRS, pursuant to the terms of the Purchase and Assumption Agreement, dated as of October 17, 2014, by and among the FDIC, Receiver of NBRS, the FDIC and the Bank (the “Agreement”). | |
The Bank acquired approximately $143.4 million in book value of deposits as well as approximately $145.9 million in book value of assets, consisting primarily of $100.5 million in book value of loans and $34.6 million in book value of marketable securities. The FDIC will retain the other real estate owned and other remaining assets for later disposition. The Bank paid a premium of 1.19% to assume all of the deposits of NBRS. These amounts are based on information currently available to the Company and are subject to change as additional information relative to fair values as of October 17, 2014 becomes available. The amounts are also subject to adjustments based upon final settlement with the FDIC. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.3 million, as this transaction was not subject to any loss share agreement. | |
The Bank also acquired two bank premises from NBRS including one branch and one former (now vacant) branch, and is operating an additional five former NBRS branches; while the Bank did not commit to assume the leases on these branches it has the option to do so under the Agreement. The Bank did not acquire any of NBRS’ other real estate owned. In addition, no assets were acquired or liabilities assumed from NBRS’ parent entity. | |
The Bank has entered into an agreement with a third party to sell an aggregate of approximately $18.4 million in book value of certain non-performing and other loans acquired from NBRS within 30 days from October 17, 2014. Assuming such sale is consummated, the Bank would retain approximately $2.0 million in book value of non-performing loans acquired from NBRS. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Consolidation, Policy [Policy Text Block] | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of Bancorp, its subsidiary bank and the Bank’s subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain reclassifications may have been made to the prior year’s consolidated financial statements to conform to current period presentation. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near-term relate to the determination of the allowance for credit losses, other-than-temporary impairment of investment securities, determination of fair value for financial instruments, deferred income taxes and share-based compensation. | |
Loans Held for sale [Policy Text Block] | ' |
Loans Held for Sale | |
During the quarter ended September 30, 2014 the Company elected to apply the fair value option under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 825-10 “Recognition and Measurement of Financial Assets and Financial Liabilities” to loans held for sale. As such, mortgage loans originated and intended for sale into the secondary market are carried at fair value. Fair value is determined based on outstanding investor commitments, and in the absence of such commitments, on current investor yield requirements or third party pricing models. This election was made in order to better align the timing and recognition of the revenues generated with the related costs associated with mortgage loans originated with the intent to sell at the measurement date. Prior to this election, loans were originated and recorded at cost as of the measurement date, and related gains or losses were not recorded until the loan was sold. The effect of implementing the fair value for mortgage loans held for sale during the second quarter accelerated mortgage related revenues by $836 thousand through September 30, 2014. | |
The Company sells its mortgage loans to third party investors servicing released. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company. Unrealized and realized gains on loan sales are determined using the specific identification method and are recognized through mortgage banking activity in the Consolidated Statement of Operations. | |
Segment Reporting, Policy [Policy Text Block] | ' |
Segment Information | |
The Company has one reportable segment, “Community Banking.” All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Bank to fund itself with deposits and other borrowings and manage interest rate and credit risk. Accordingly, all significant operating decisions are based upon analysis of the Company as one segment or unit. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
New Accounting Pronouncements | |
ASU No. 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). The guidance clarifies when an “in substance repossession or foreclosure” occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, such that all or a portion of the loan should be derecognized and the real estate property recognized. ASU 2014-04 states that a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments of ASU 2014-04 also require interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amendments of ASU 2014-04 are effective for interim and annual periods beginning after December 15, 2014, and may be applied using either a modified retrospective transition method or a prospective transition method as described in ASU 2014-04. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations. | |
ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance states an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in this Update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The amendments in this Update are effective for annual reporting periods beginning after December 15, 2016. The adoption of this guidance is not expected to have a material impact on its financial position or results of operations. | |
ASU No. 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting and for repurchase financing arrangements; require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments in this Update require two new disclosures for certain transactions. First to disclose information about certain transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the same counterparty. Secondly to disclose information about repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The amendments of ASU 2014-11 are effective for interim and annual periods beginning after December 15, 2014. The Company will evaluate these amendments but does not believe they will have an impact on its financial position or results of operations | |
ASU No. 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force). The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Guidance in Topic 718 as it relates to awards with performance conditions that affect vesting should be applied to account for such awards. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. As indicated in the definition of vest, the stated vesting period (which includes the period in which the performance target could be achieved) may differ from the requisite service period. The amendments of ASU 2014-12 are effective for interim and annual periods beginning after December 15, 2014. | |
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||||
The amortized cost and estimated fair values of investments available for sale are as follows: | ||||||||||||||||||||||||||
(in thousands) | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Estimated | Amortized | Unrealized | Unrealized | Estimated | |||||||||||||||||||
Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | |||||||||||||||||||
U.S. Government | ||||||||||||||||||||||||||
Agencies | $ | 22,998 | $ | 1 | $ | - | $ | 22,999 | $ | 28,522 | $ | 1 | $ | 2 | $ | 28,521 | ||||||||||
Treasuries | 3,999 | - | - | 3,999 | - | - | - | - | ||||||||||||||||||
Mortgage-backed | 108 | 6 | - | 114 | 157 | 10 | - | 167 | ||||||||||||||||||
$ | 27,105 | $ | 7 | $ | - | $ | 27,112 | $ | 28,679 | $ | 11 | $ | 2 | $ | 28,688 | |||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||||
Gross unrealized losses and fair value by investment category and length of time the individual securities have been in a continuous unrealized loss position at December 31, 2013 are presented below: | ||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
(in thousands) | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||
U.S. Government agencies | $ | 15,994 | $ | 2 | $ | - | $ | - | $ | 15,994 | $ | 2 | ||||||||||||||
Mortgage-backed | - | - | - | - | - | - | ||||||||||||||||||||
$ | 15,994 | $ | 2 | $ | - | $ | - | $ | 15,994 | $ | 2 | |||||||||||||||
Schedule of Available-for-sale by Debt Maturity [Table Text Block] | ' | |||||||||||||||||||||||||
The amortized cost and estimated fair values of investments available for sale by contractual maturity are shown below: | ||||||||||||||||||||||||||
(in thousands) | September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||
Amortized | Estimated Fair | Amortized | Estimated Fair | |||||||||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||||||||
Amounts maturing: | ||||||||||||||||||||||||||
One year or less | $ | 26,998 | $ | 26,999 | $ | 28,522 | $ | 28,521 | ||||||||||||||||||
After one through five years | 22 | 23 | 51 | 54 | ||||||||||||||||||||||
After five through ten years | 85 | 90 | 106 | 113 | ||||||||||||||||||||||
After ten years | - | - | - | - | ||||||||||||||||||||||
$ | 27,105 | $ | 27,112 | $ | 28,679 | $ | 28,688 | |||||||||||||||||||
Loans_and_Leases_Tables
Loans and Leases (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Receivables [Abstract] | ' | |||||||||||
Schedule of Receivables with Imputed Interest [Table Text Block] | ' | |||||||||||
The loan portfolio segment balances at September 30, 2014 and December 31, 2013 are presented in the following table: | ||||||||||||
September 30, | December 31, | |||||||||||
(in thousands) | 2014 | % of Total | 2013 | % of Total | ||||||||
Real estate | ||||||||||||
Construction and land | $ | 62,649 | 13.6 | % | $ | 50,884 | 12.6 | % | ||||
Residential - first lien | 61,560 | 13.3 | 39,249 | 9.7 | ||||||||
Residential - junior lien | 11,881 | 2.6 | 8,266 | 2 | ||||||||
Total residential real estate | 73,441 | 15.9 | 47,515 | 11.7 | ||||||||
Commercial - owner occupied | 94,517 | 20.5 | 90,333 | 22.4 | ||||||||
Commercial - non-owner occupied | 116,820 | 25.3 | 113,559 | 28.1 | ||||||||
Total commercial real estate | 211,337 | 45.8 | 203,892 | 50.5 | ||||||||
Total real estate loans | 347,427 | 75.3 | 302,291 | 74.8 | ||||||||
Commercial loans and leases | 112,357 | 24.4 | 100,410 | 24.9 | ||||||||
Consumer | 1,448 | 0.3 | 1,174 | 0.3 | ||||||||
Total loans | $ | 461,232 | 100 | % | $ | 403,875 | 100 | % | ||||
Credit_Quality_Assessment_Tabl
Credit Quality Assessment (Tables) | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Table Text Block] | ' | |||||||||||||||||||||||||
The following table provides information on the activity in the allowance for credit losses by the respective loan portfolio segment for the nine months and three months ended September 30, 2014 and September 30, 2013: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 122 | $ | 200 | $ | 34 | $ | 131 | $ | 541 | $ | 1,464 | $ | 14 | $ | 2,506 | ||||||||||
Charge-offs | - | - | - | - | - | -2,115 | - | -2,115 | ||||||||||||||||||
Recoveries | - | - | - | - | 4 | 53 | - | 57 | ||||||||||||||||||
Provision for credit losses | -13 | 5 | -11 | 195 | 4 | 2,393 | -3 | 2,570 | ||||||||||||||||||
Ending balance | $ | 109 | $ | 205 | $ | 23 | $ | 326 | $ | 549 | $ | 1,795 | $ | 11 | $ | 3,018 | ||||||||||
Three months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 159 | $ | 196 | $ | 17 | $ | 138 | $ | 661 | $ | 1,871 | $ | 11 | $ | 3,053 | ||||||||||
Charge-offs | - | - | - | - | - | -2,115 | - | -2,115 | ||||||||||||||||||
Recoveries | - | - | - | - | - | 12 | - | 12 | ||||||||||||||||||
Provision for credit losses | -50 | 9 | 6 | 188 | -112 | 2,027 | - | 2,068 | ||||||||||||||||||
Ending balance | $ | 109 | $ | 205 | $ | 23 | $ | 326 | $ | 549 | $ | 1,795 | $ | 11 | $ | 3,018 | ||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | - | 72 | - | 72 | ||||||||||||||||||
collectively evaluated for impairment | 109 | 205 | 23 | 326 | 549 | 1,723 | 11 | 2,946 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Ending balance | 62,649 | 61,560 | 11,881 | 94,517 | 116,820 | 112,357 | 1,448 | 461,232 | ||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | 810 | 314 | - | - | 2,702 | 1,649 | - | 5,475 | ||||||||||||||||||
collectively evaluated for impairment | 61,839 | 61,246 | 11,881 | 94,517 | 114,118 | 110,708 | 1,448 | 455,757 | ||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Allowance for credit losses: | ||||||||||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 127 | $ | 204 | $ | 22 | $ | 650 | $ | 505 | $ | 1,227 | $ | 29 | $ | 2,764 | ||||||||||
Charge-offs | - | -183 | - | - | -2 | -202 | - | -387 | ||||||||||||||||||
Recoveries | - | - | - | - | 30 | 72 | - | 102 | ||||||||||||||||||
Provision for credit losses | -20 | 138 | - | -70 | 241 | 393 | -16 | 666 | ||||||||||||||||||
Ending balance | $ | 107 | $ | 159 | $ | 22 | $ | 580 | $ | 774 | $ | 1,490 | $ | 13 | $ | 3,145 | ||||||||||
Three months ended | ||||||||||||||||||||||||||
Beginning balance | $ | 122 | $ | 133 | $ | 22 | $ | 663 | $ | 502 | $ | 1,482 | $ | 27 | $ | 2,951 | ||||||||||
Charge-offs | - | - | - | - | -2 | - | - | -2 | ||||||||||||||||||
Recoveries | - | - | - | - | - | 56 | - | 56 | ||||||||||||||||||
Provision for credit losses | -15 | 26 | - | -83 | 274 | -48 | -14 | 140 | ||||||||||||||||||
Ending balance | $ | 107 | $ | 159 | $ | 22 | $ | 580 | $ | 774 | $ | 1,490 | $ | 13 | $ | 3,145 | ||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | 373 | 715 | - | 1,088 | ||||||||||||||||||
collectively evaluated for impairment | 107 | 159 | 22 | 580 | 401 | 775 | 13 | 2,057 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||
Ending balance | 49,390 | 36,149 | 8,244 | 89,008 | 116,306 | 101,463 | 948 | 401,508 | ||||||||||||||||||
Ending balance: | ||||||||||||||||||||||||||
individually evaluated for impairment | - | - | - | - | 3,098 | 3,403 | - | 6,501 | ||||||||||||||||||
collectively evaluated for impairment | 49,390 | 36,149 | 8,244 | 89,008 | 113,208 | 98,060 | 948 | 395,007 | ||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||||
Credit risk profile by portfolio segment based upon internally assigned risk assignments are presented below: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Credit quality indicators: | ||||||||||||||||||||||||||
Not classified | $ | 61,839 | $ | 61,246 | $ | 11,881 | $ | 94,517 | $ | 114,118 | $ | 110,709 | $ | 1,448 | $ | 455,758 | ||||||||||
Special mention | - | - | - | - | - | - | - | - | ||||||||||||||||||
Substandard | 810 | 314 | - | - | 2,702 | 1,648 | - | 5,474 | ||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | 62,649 | $ | 61,560 | $ | 11,881 | $ | 94,517 | $ | 116,820 | $ | 112,357 | $ | 1,448 | $ | 461,232 | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Credit quality indicators: | ||||||||||||||||||||||||||
Not classified | $ | 50,884 | $ | 38,918 | $ | 8,266 | $ | 90,333 | $ | 113,301 | $ | 97,817 | $ | 1,174 | $ | 400,693 | ||||||||||
Special mention | - | - | - | - | - | - | - | - | ||||||||||||||||||
Substandard | - | 331 | - | - | 258 | 2,593 | - | 3,182 | ||||||||||||||||||
Doubtful | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total | $ | 50,884 | $ | 39,249 | $ | 8,266 | $ | 90,333 | $ | 113,559 | $ | 100,410 | $ | 1,174 | $ | 403,875 | ||||||||||
Past Due Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||
An aged analysis of past due loans is as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Analysis of past due loans: | ||||||||||||||||||||||||||
Accruing loans current | $ | 61,505 | $ | 60,928 | $ | 11,827 | $ | 94,517 | $ | 116,670 | $ | 111,165 | $ | 1,448 | $ | 458,060 | ||||||||||
Accruing loans past due: | ||||||||||||||||||||||||||
31-59 days past due | - | - | 54 | - | - | 120 | - | 174 | ||||||||||||||||||
60-89 days past due | 334 | 318 | - | - | - | - | - | 652 | ||||||||||||||||||
Greater than 90 days past due | - | - | - | - | 150 | - | - | 150 | ||||||||||||||||||
Total past due | 334 | 318 | 54 | - | 150 | 120 | - | 976 | ||||||||||||||||||
Non-accrual loans | 810 | 314 | - | - | - | 1,072 | - | 2,196 | ||||||||||||||||||
Total loans | $ | 62,649 | $ | 61,560 | $ | 11,881 | $ | 94,517 | $ | 116,820 | $ | 112,357 | $ | 1,448 | $ | 461,232 | ||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | and land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Analysis of past due loans: | ||||||||||||||||||||||||||
Accruing loans current | $ | 50,884 | $ | 38,025 | $ | 8,266 | $ | 90,333 | $ | 113,142 | $ | 97,127 | $ | 1,174 | $ | 398,951 | ||||||||||
Accruing loans past due: | ||||||||||||||||||||||||||
31-59 days past due | - | 570 | - | - | - | 150 | - | 720 | ||||||||||||||||||
60-89 days past due | - | 323 | - | - | - | 244 | - | 567 | ||||||||||||||||||
Greater than 90 days past due | - | - | - | - | 159 | 296 | - | 455 | ||||||||||||||||||
Total past due | - | 893 | - | - | 159 | 690 | - | 1,742 | ||||||||||||||||||
Non-accrual loans | - | 331 | - | - | 258 | 2,593 | - | 3,182 | ||||||||||||||||||
Total loans | $ | 50,884 | $ | 39,249 | $ | 8,266 | $ | 90,333 | $ | 113,559 | $ | 100,410 | $ | 1,174 | $ | 403,875 | ||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||
The impaired loans at September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | & land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Impaired loans: | ||||||||||||||||||||||||||
Recorded investment | $ | 810 | $ | 314 | $ | - | $ | - | $ | 2,702 | $ | 1,649 | $ | - | $ | 5,475 | ||||||||||
With an allowance recorded | - | - | - | - | - | 188 | - | 188 | ||||||||||||||||||
With no related allowance recorded | 810 | 314 | - | - | 2,702 | 1,461 | - | 5,287 | ||||||||||||||||||
Related allowance | - | - | - | - | - | 72 | - | 72 | ||||||||||||||||||
Unpaid principal | 1,316 | 314 | - | - | 2,701 | 1,703 | - | 6,034 | ||||||||||||||||||
Nine months ended | ||||||||||||||||||||||||||
Average balance of impaired loans | 760 | 329 | - | - | 2,717 | 2,454 | - | 6,260 | ||||||||||||||||||
Interest income recognized | 24 | 13 | - | - | 149 | 105 | - | 291 | ||||||||||||||||||
Three months ended | ||||||||||||||||||||||||||
Average balance of impaired loans | 810 | 328 | - | - | 2,706 | 2,416 | - | 6,260 | ||||||||||||||||||
Interest income recognized | 24 | 4 | - | - | 50 | 22 | - | 100 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Commercial | Commercial | Commercial | ||||||||||||||||||||||||
Construction | Residential | Residential | owner | non-owner | loans | Consumer | ||||||||||||||||||||
(in thousands) | & land | first lien | junior lien | occupied | occupied | and leases | loans | Total | ||||||||||||||||||
Impaired loans: | ||||||||||||||||||||||||||
Recorded investment | $ | - | $ | 331 | $ | - | $ | - | $ | 2,984 | $ | 2,975 | $ | - | $ | 6,290 | ||||||||||
With an allowance recorded | - | 331 | - | - | 258 | 677 | - | 1,266 | ||||||||||||||||||
With no related allowance recorded | - | - | - | - | 2,726 | 2,298 | - | 5,024 | ||||||||||||||||||
Related allowance | - | 4 | - | - | 31 | 224 | - | 259 | ||||||||||||||||||
Unpaid principal | - | 331 | - | - | 2,984 | 2,978 | - | 6,293 | ||||||||||||||||||
Average balance of impaired loans | - | 333 | - | - | 2,994 | 3,706 | - | 7,033 | ||||||||||||||||||
Interest income recognized | - | 15 | - | - | 208 | 120 | - | 343 | ||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||
The trouble debt restructured loans (“TDRs”) at September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Number | Non-Accrual | Number | Accrual | Total | ||||||||||||||||||||||
(dollars in thousands) | of Loans | Status | of Loans | Status | TDRs | |||||||||||||||||||||
Commercial loans | 6 | $ | 758 | 1 | $ | 228 | $ | 986 | ||||||||||||||||||
Residential first liens | 1 | 314 | - | - | 314 | |||||||||||||||||||||
7 | $ | 1,072 | 1 | $ | 228 | $ | 1,300 | |||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Number | Non-Accrual | Number | Accrual | Total | ||||||||||||||||||||||
(dollars in thousands) | of Loans | Status | of Loans | Status | TDRs | |||||||||||||||||||||
Commercial loans | 6 | $ | 861 | - | $ | - | $ | 861 | ||||||||||||||||||
Summary of Troubled Debt Restructuring Outstanding and Performance [Table Text Block] | ' | |||||||||||||||||||||||||
A summary of TDR modifications outstanding and performance under modified terms are as follows: | ||||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||||
Not Performing | Performing | |||||||||||||||||||||||||
to Modified | to Modified | Total | ||||||||||||||||||||||||
(in thousands) | Terms | Terms | TDRs | |||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||
Forberance | $ | 758 | $ | - | $ | 758 | ||||||||||||||||||||
Extension or other modification | - | 228 | 228 | |||||||||||||||||||||||
Total commercial | 758 | 228 | 986 | |||||||||||||||||||||||
Residential first liens | ||||||||||||||||||||||||||
Extension or other modification | 314 | - | 314 | |||||||||||||||||||||||
Total residential first liens | 314 | - | 314 | |||||||||||||||||||||||
Total trouble debt restructure loans | $ | 1,072 | $ | 228 | $ | 1,300 | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||
Not Performing | Performing | |||||||||||||||||||||||||
to Modified | to Modified | Total | ||||||||||||||||||||||||
(in thousands) | Terms | Terms | TDRs | |||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||
Forberance | $ | 861 | $ | - | $ | 861 | ||||||||||||||||||||
Total commercial | $ | 861 | $ | - | $ | 861 | ||||||||||||||||||||
Intangibles_Tables
Intangibles (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | ||||||||||||
The gross carrying amount and accumulated amortization of intangible assets is as follows: | |||||||||||||
September 30, 2014 | Weighted | ||||||||||||
Gross | Net | Average | |||||||||||
Carrying | Accumulated | Carrying | Remaining Life | ||||||||||
(in thousands) | Amount | Amortization | Amount | (Years) | |||||||||
Amortizing intangible assets: | |||||||||||||
Core deposit intangible | $ | 889 | $ | 91 | $ | 798 | 8.26 | ||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||||
Estimated future amortizing expense for amortization intangibles within the years ending December 31, are as follows: | |||||||||||||
(in thousands) | |||||||||||||
2014 | $ | 45 | |||||||||||
2015 | 170 | ||||||||||||
2016 | 130 | ||||||||||||
2017 | 101 | ||||||||||||
2018 | 81 | ||||||||||||
Thereafter | 271 | ||||||||||||
Total amortizing intangible assets | $ | 798 | |||||||||||
Deposits_Tables
Deposits (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||
Schedule of Deposits [Table Text Block] | ' | ||||||||||||
The following table details the composition of deposits and the related percentage mix of total deposits, respectively: | |||||||||||||
(dollars in thousands) | September 30, 2014 | December 31, 2013 | |||||||||||
% of | % of | ||||||||||||
Amount | Total | Amount | Total | ||||||||||
Noninterest-bearing demand | $ | 106,237 | 24 | % | $ | 89,759 | 23 | % | |||||
Interest-bearing checking | 34,897 | 7 | 31,443 | 8 | |||||||||
Money market accounts | 121,144 | 27 | 96,365 | 25 | |||||||||
Savings | 13,177 | 3 | 12,496 | 3 | |||||||||
Certificates of deposit $100,000 and over | 121,970 | 27 | 110,516 | 29 | |||||||||
Certificates of deposit under $100,000 | 54,485 | 12 | 48,370 | 12 | |||||||||
Total deposits | $ | 451,910 | 100 | % | $ | 388,949 | 100 | % | |||||
Stock_Options_Awards_and_Warra1
Stock Options, Awards and Warrants (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Stock Options Awards And Warrants [Line Items] | ' | ||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
A summary of the activity for the Company’s restricted stock for the periods indicated is presented in the following table: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||
Shares | Fair Value | Shares | Fair Value | ||||||||||
Balance at January 1, 2014 | 50,000 | $ | 6.89 | - | $ | - | |||||||
Granted | - | - | 50,000 | 6.89 | |||||||||
Vested | -10,002 | 6.91 | - | - | |||||||||
Forfeited | -6,668 | 6.85 | - | - | |||||||||
Balance at September 30, 2014 | 33,330 | $ | 6.89 | 50,000 | $ | 6.89 | |||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||||||
A summary of the activity for the Company’s restricted stock units for the periods indicated is presented in the following table: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Grant Date | Grant Date | ||||||||||||
Shares | Fair Value | Shares | Fair Value | ||||||||||
Balance at January 1, 2014 | - | $ | - | - | $ | - | |||||||
Granted | 44,500 | 11.21 | - | - | |||||||||
Vested | - | - | - | - | |||||||||
Forfeited | - | - | - | - | |||||||||
Balance at September 30, 2014 | 44,500 | $ | 11.21 | - | $ | - | |||||||
Warrant [Member] | ' | ||||||||||||
Stock Options Awards And Warrants [Line Items] | ' | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||
The following table summarizes the warrant activity and related information for the periods ended: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Shares | Price | Shares | Price | ||||||||||
Balance at January 1, 2014 | 119,376 | $ | 10 | 119,376 | $ | 10 | |||||||
Granted | - | - | - | - | |||||||||
Exercised | -47,068 | 10 | - | - | |||||||||
Forfeited | -72,308 | 10 | - | - | |||||||||
Balance at September 30, 2014 | - | $ | - | 119,376 | $ | 10 | |||||||
Exercisable at September 30, 2014 | - | $ | - | 119,376 | $ | 10 | |||||||
Stock Options [Member] | ' | ||||||||||||
Stock Options Awards And Warrants [Line Items] | ' | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||
The following table summarizes the Company’s stock option activity and related information for the periods ended: | |||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||
Weighted | Weighted | ||||||||||||
Average | Average | ||||||||||||
Exercise | Exercise | ||||||||||||
Shares | Price | Shares | Price | ||||||||||
Balance at January 1, 2014 | 387,101 | $ | 11.19 | 395,351 | $ | 11.16 | |||||||
Granted | - | - | - | - | |||||||||
Exercised | - | - | - | - | |||||||||
Forfeited | -118,310 | 10.02 | -8,250 | 9.9 | |||||||||
Balance at September 30, 2014 | 268,791 | $ | 11.71 | 387,101 | $ | 11.19 | |||||||
Exercisable at September 30, 2014 | 268,791 | $ | 11.71 | 387,101 | $ | 11.19 | |||||||
Weighted average fair value of options granted during the year | $ | - | $ | - | |||||||||
Income_per_Common_Share_Tables
Income per Common Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||
The table below shows the presentation of basic and diluted income per common share for the periods ended: | ||||||||||||||
Nine months ended | Three months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(dollars in thousands, except per share data) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Net income | $ | 1,239 | $ | 1,404 | $ | 236 | $ | 407 | ||||||
Preferred dividends | -94 | -134 | -31 | -31 | ||||||||||
Net income available to common shareholders (numerator) | $ | 1,145 | $ | 1,270 | $ | 205 | $ | 376 | ||||||
BASIC | ||||||||||||||
Basic average common shares outstanding (denominator) | 4,061,598 | 4,040,105 | 4,081,685 | 4,040,471 | ||||||||||
Basic income per common share | $ | 0.28 | $ | 0.31 | $ | 0.05 | $ | 0.09 | ||||||
DILUTED | ||||||||||||||
Average common shares outstanding | 4,061,598 | 4,040,105 | 4,081,685 | 4,040,471 | ||||||||||
Diluted effect of common stock equivalents | 75,865 | 34,338 | 91,916 | 51,371 | ||||||||||
Diluted average common shares outstanding (denominator) | 4,137,463 | 4,074,443 | 4,173,601 | 4,091,842 | ||||||||||
Diluted income per common share | $ | 0.28 | $ | 0.31 | $ | 0.05 | $ | 0.09 | ||||||
Common stock equivalents outstanding that are anti-dilutive and thus excluded from calculation of diluted number of shares presented above | 209,347 | 486,422 | 209,347 | 486,422 | ||||||||||
RiskBased_Capital_Tables
Risk-Based Capital (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | |||||||||||||||||
Management believes that, as of September 30, 2014 and December 31, 2013 the Bank met all capital adequacy requirements to which it is subject. | ||||||||||||||||||
To be well | ||||||||||||||||||
capitalized under | ||||||||||||||||||
the FDICIA | ||||||||||||||||||
For capital | prompt corrective | |||||||||||||||||
Actual | adequacy purposes | action provisions | ||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||
As of September 30, 2014: | ||||||||||||||||||
Total capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 52,135 | 10.62 | % | $ | 39,289 | 8 | % | $ | 49,112 | 10 | % | ||||||
Howard Bancorp | $ | 52,395 | 10.69 | % | $ | 39,206 | 8 | % | N/A | |||||||||
Tier 1 capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 49,117 | 10 | % | $ | 19,645 | 4 | % | $ | 29,467 | 6 | % | ||||||
Howard Bancorp | $ | 49,377 | 10.08 | % | $ | 19,603 | 4 | % | N/A | |||||||||
Tier 1 capital (to average assets) | ||||||||||||||||||
(Leverage ratio) | ||||||||||||||||||
Howard Bank | $ | 49,117 | 9.05 | % | $ | 21,719 | 4 | % | $ | 27,149 | 5 | % | ||||||
Howard Bancorp | $ | 49,377 | 9.09 | % | $ | 21,739 | 4 | % | N/A | |||||||||
As of December 31, 2013: | ||||||||||||||||||
Total capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 49,902 | 11.85 | % | $ | 33,684 | 8 | % | $ | 42,105 | 10 | % | ||||||
Howard Bancorp | $ | 50,700 | 12.05 | % | $ | 33,668 | 8 | % | N/A | |||||||||
Tier 1 capital (to risk-weighted assets) | ||||||||||||||||||
Howard Bank | $ | 47,396 | 11.26 | % | $ | 16,842 | 4 | % | $ | 25,263 | 6 | % | ||||||
Howard Bancorp | $ | 48,195 | 11.45 | % | $ | 16,834 | 4 | % | N/A | |||||||||
Tier 1 capital (to average assets) | ||||||||||||||||||
(Leverage ratio) | ||||||||||||||||||
Howard Bank | $ | 47,396 | 9.77 | % | $ | 19,406 | 4 | % | $ | 24,257 | 5 | % | ||||||
Howard Bancorp | $ | 48,195 | 9.93 | % | $ | 19,414 | 4 | % | N/A | |||||||||
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table sets forth the Company's financial assets and liabilities that were accounted for or disclosed at fair value on a recurring basis as of September 30, 2014 and December 31, 2013. | |||||||||||||||||
September 30, 2014 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Investment securities: | |||||||||||||||||
U.S. Goverment agencies | $ | 22,999 | $ | - | $ | 22,999 | $ | - | |||||||||
U.S. Goverment treasuries | 3,999 | - | 3,999 | - | |||||||||||||
Mortgage-backed securities | 114 | - | 114 | - | |||||||||||||
Loans held for sale | 38,669 | - | 38,669 | - | |||||||||||||
Rate lock commitments | 131 | - | 131 | - | |||||||||||||
December 31, 2013 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Investment securities: | |||||||||||||||||
U.S. Goverment agencies | $ | 28,521 | $ | - | $ | 28,521 | $ | - | |||||||||
Mortgage-backed securities | 167 | - | 167 | - | |||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||
The following table sets forth the Company's financial assets and liabilities that were accounted for or disclosed at fair value on a nonrecurring basis at September 30, 2014 and December 31, 2013. | |||||||||||||||||
September 30, 2014 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Other real estate owned | $ | 2,472 | $ | - | $ | - | $ | 2,472 | |||||||||
Impaired loans: | |||||||||||||||||
Construction and land | 810 | - | - | 810 | |||||||||||||
Residential - first lien | 314 | - | - | 314 | |||||||||||||
Residential - junior lien | - | - | - | - | |||||||||||||
Commercial - owner occupied | - | - | - | - | |||||||||||||
Commercial - non-owner occupied | 2,702 | - | - | 2,702 | |||||||||||||
Commercial loans and leases | 1,461 | - | - | 1,461 | |||||||||||||
Consumer | - | - | - | - | |||||||||||||
December 31, 2013 | Quoted Price in | Significant | |||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
Carrying | for Identical | Observable | Unobservable | ||||||||||||||
Value | Assets | Inputs | Inputs | ||||||||||||||
(in thousands) | (Fair Value) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Other real estate owned | $ | 2,377 | $ | - | $ | - | $ | 2,377 | |||||||||
Impaired loans: | |||||||||||||||||
Construction and land | - | - | - | - | |||||||||||||
Residential - first lien | 327 | - | - | 327 | |||||||||||||
Residential - junior lien | - | - | - | - | |||||||||||||
Commercial - owner occupied | - | - | - | - | |||||||||||||
Commercial - non-owner occupied | 2,953 | - | - | 2,953 | |||||||||||||
Commercial loans and leases | 2,754 | - | - | 2,754 | |||||||||||||
Consumer | - | - | - | - | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
However, because there is no market for many of these financial instruments, management has no basis to determine whether the fair value presented for loans would be indicative of the value negotiated in an actual sale. | |||||||||||||||||
September 30, 2014 | |||||||||||||||||
Quoted Price in | Significant | ||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | |||||||||||||
(in thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 17,671 | $ | 17,671 | $ | - | $ | 17,671 | $ | - | |||||||
Investment securities | 27,112 | 27,112 | - | 27,112 | - | ||||||||||||
Nonmarketable equity securities | 2,700 | 2,700 | - | 2,700 | - | ||||||||||||
Loans held for sale | 38,669 | 38,669 | - | 38,669 | - | ||||||||||||
Rate lock commitments | 131 | 131 | - | 131 | - | ||||||||||||
Loans and leases | 458,214 | 459,445 | - | - | 459,445 | ||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 451,910 | 452,668 | - | - | 452,668 | ||||||||||||
Short-term borrowings | 51,956 | 51,956 | - | 51,956 | - | ||||||||||||
Long-term borrowings | 19,000 | 18,992 | - | 18,992 | - | ||||||||||||
December 31, 2013 | |||||||||||||||||
Quoted Price in | Significant | ||||||||||||||||
Active Markets | Other | Significant | |||||||||||||||
for Identical | Observable | Unobservable | |||||||||||||||
Carrying | Fair | Assets | Inputs | Inputs | |||||||||||||
(in thousands) | Amount | Value | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Financial Assets | |||||||||||||||||
Cash and cash equivalents | $ | 35,736 | $ | 35,736 | $ | - | $ | 35,736 | $ | - | |||||||
Investment securities | 28,688 | 28,688 | - | 28,688 | - | ||||||||||||
Nonmarketable equity securities | 2,282 | 2,282 | - | 2,282 | - | ||||||||||||
Loans held for sale | 3,298 | 3,298 | - | 3,298 | - | ||||||||||||
Loans and leases | 401,369 | 401,652 | - | - | 401,652 | ||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 388,949 | 389,220 | - | - | 389,220 | ||||||||||||
Short-term borrowings | 45,658 | 45,658 | - | 45,658 | - | ||||||||||||
Long-term borrowings | 16,000 | 16,008 | - | 16,008 | - | ||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details Textual) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Increase decrease In Mortgage Revenue | $836 |
Investment_Securities_Details
Investment Securities (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $27,105 | $28,679 |
Gross Unrealized Gains | 7 | 11 |
Gross Unrealized Losses | 0 | 2 |
Estimated Fair Value | 27,112 | 28,688 |
U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 22,998 | 28,522 |
Gross Unrealized Gains | 1 | 1 |
Gross Unrealized Losses | 0 | 2 |
Estimated Fair Value | 22,999 | 28,521 |
U.S.Government treasuries [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,999 | 0 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 3,999 | 0 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 108 | 157 |
Gross Unrealized Gains | 6 | 10 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $114 | $167 |
Investment_Securities_Details_
Investment Securities (Details 1) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ' |
Individual securities, Less than 12 months, Fair Value | $15,994 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 2 |
Individual securities, 12 months or more, Fair Value | 0 |
Individual securities, 12 months or more, Gross Unrealized Losses | 0 |
Individual securities, Total, Fair Value | 15,994 |
Individual securities, Total, Gross Unrealized Losses | 2 |
U.S. Government Agencies [Member] | ' |
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ' |
Individual securities, Less than 12 months, Fair Value | 15,994 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 2 |
Individual securities, 12 months or more, Fair Value | 0 |
Individual securities, 12 months or more, Gross Unrealized Losses | 0 |
Individual securities, Total, Fair Value | 15,994 |
Individual securities, Total, Gross Unrealized Losses | 2 |
Collateralized Mortgage Backed Securities [Member] | ' |
Available For Sale Securities Continuous Unrealized Loss Position [Line Items] | ' |
Individual securities, Less than 12 months, Fair Value | 0 |
Individual securities, Less than 12 months, Gross Unrealized Losses | 0 |
Individual securities, 12 months or more, Fair Value | 0 |
Individual securities, 12 months or more, Gross Unrealized Losses | 0 |
Individual securities, Total, Fair Value | 0 |
Individual securities, Total, Gross Unrealized Losses | $0 |
Investment_Securities_Details_1
Investment Securities (Details 2) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amounts maturing: | ' | ' |
One year or less, Amortized Cost | $26,998 | $28,522 |
After one through five years, Amortized Cost | 22 | 51 |
After five through ten years, Amortized Cost | 85 | 106 |
After ten years, Amortized Cost | 0 | 0 |
Amortized Cost | 27,105 | 28,679 |
One year or less, Estimated Fair value | 26,999 | 28,521 |
After one through five years, Estimated Fair value | 23 | 54 |
After five through ten years, Estimated Fair value | 90 | 113 |
After ten years, Estimated Fair value | 0 | 0 |
Estimated Fair Value | $27,112 | $28,688 |
Investment_Securities_Details_2
Investment Securities (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Securities Pledged For Repurchase Agreements [Line Items] | ' | ' |
Pledged Assets Separately Reported, Securities Pledged for Repurchase Agreements, at Fair Value | $19.70 | $20.70 |
Loans_and_Leases_Details
Loans and Leases (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | $461,232 | $403,875 | $401,508 |
Loans and Leases, Net Percent | 100.00% | 100.00% | ' |
Construction and Land [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 62,649 | 50,884 | 49,390 |
Loans and Leases, Net Percent | 13.60% | 12.60% | ' |
Residential - First Lien [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 61,560 | 39,249 | 36,149 |
Loans and Leases, Net Percent | 13.30% | 9.70% | ' |
Residential Junior Lien [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 11,881 | 8,266 | 8,244 |
Loans and Leases, Net Percent | 2.60% | 2.00% | ' |
Residential Real Estate [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 73,441 | 47,515 | ' |
Loans and Leases, Net Percent | 15.90% | 11.70% | ' |
Commercial - owner occupied [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 94,517 | 90,333 | 89,008 |
Loans and Leases, Net Percent | 20.50% | 22.40% | ' |
Commercial - non-owner Occupied [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 116,820 | 113,559 | 116,306 |
Loans and Leases, Net Percent | 25.30% | 28.10% | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 211,337 | 203,892 | ' |
Loans and Leases, Net Percent | 45.80% | 50.50% | ' |
Real Estate [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 347,427 | 302,291 | ' |
Loans and Leases, Net Percent | 75.30% | 74.80% | ' |
Commercial Loan [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | 112,357 | 100,410 | ' |
Loans and Leases, Net Percent | 24.40% | 24.90% | ' |
Consumer Loan [Member] | ' | ' | ' |
Loans and Leases Receivable [Line Items] | ' | ' | ' |
Loans and Leases | $1,448 | $1,174 | $948 |
Loans and Leases, Net Percent | 0.30% | 0.30% | ' |
Loans_and_Leases_Details_Textu
Loans and Leases (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans and Leases Receivable [Line Items] | ' | ' |
Loans Receivable Held-for-sale, Net | $38,669 | $3,298 |
Credit_Quality_Assessment_Deta
Credit Quality Assessment (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | $3,053 | $2,951 | $2,506 | $2,764 | ' |
Allowance for credit losses, Charge-offs | -2,115 | -2 | -2,115 | -387 | ' |
Allowance for credit losses, Recoveries | 12 | 56 | 57 | 102 | ' |
Allowance for credit losses, Provision for credit losses | -2,068 | -140 | -2,570 | -666 | ' |
Allowance for credit losses, Ending balance | 3,018 | 3,145 | 3,018 | 3,145 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 72 | 1,088 | 72 | 1,088 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 2,946 | 2,057 | 2,946 | 2,057 | ' |
Loans, Ending balance | 461,232 | 401,508 | 461,232 | 401,508 | 403,875 |
Loans, Ending balance, individually evaluated for impairment | 5,475 | 6,501 | 5,475 | 6,501 | ' |
Loans, Ending balance, collectively evaluated for impairment | 455,757 | 395,007 | 455,757 | 395,007 | ' |
Construction and Land [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 159 | 122 | 122 | 127 | ' |
Allowance for credit losses, Charge-offs | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Provision for credit losses | -50 | -15 | -13 | -20 | ' |
Allowance for credit losses, Ending balance | 109 | 107 | 109 | 107 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 109 | 107 | 109 | 107 | ' |
Loans, Ending balance | 62,649 | 49,390 | 62,649 | 49,390 | 50,884 |
Loans, Ending balance, individually evaluated for impairment | 810 | 0 | 810 | 0 | ' |
Loans, Ending balance, collectively evaluated for impairment | 61,839 | 49,390 | 61,839 | 49,390 | ' |
Residential - First Lien [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 196 | 133 | 200 | 204 | ' |
Allowance for credit losses, Charge-offs | 0 | 0 | 0 | -183 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Provision for credit losses | 9 | 26 | 5 | 138 | ' |
Allowance for credit losses, Ending balance | 205 | 159 | 205 | 159 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 205 | 159 | 205 | 159 | ' |
Loans, Ending balance | 61,560 | 36,149 | 61,560 | 36,149 | 39,249 |
Loans, Ending balance, individually evaluated for impairment | 314 | 0 | 314 | 0 | ' |
Loans, Ending balance, collectively evaluated for impairment | 61,246 | 36,149 | 61,246 | 36,149 | ' |
Residential - Junior Lien [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 17 | 22 | 34 | 22 | ' |
Allowance for credit losses, Charge-offs | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Provision for credit losses | 6 | 0 | -11 | 0 | ' |
Allowance for credit losses, Ending balance | 23 | 22 | 23 | 22 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 23 | 22 | 23 | 22 | ' |
Loans, Ending balance | 11,881 | 8,244 | 11,881 | 8,244 | 8,266 |
Loans, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans, Ending balance, collectively evaluated for impairment | 11,881 | 8,244 | 11,881 | 8,244 | ' |
Commercial - Owner Occupied [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 138 | 663 | 131 | 650 | ' |
Allowance for credit losses, Charge-offs | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Provision for credit losses | 188 | -83 | 195 | -70 | ' |
Allowance for credit losses, Ending balance | 326 | 580 | 326 | 580 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 326 | 580 | 326 | 580 | ' |
Loans, Ending balance | 94,517 | 89,008 | 94,517 | 89,008 | 90,333 |
Loans, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans, Ending balance, collectively evaluated for impairment | 94,517 | 89,008 | 94,517 | 89,008 | ' |
Commercial - Non-Owner Occupied [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 661 | 502 | 541 | 505 | ' |
Allowance for credit losses, Charge-offs | 0 | -2 | 0 | -2 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 4 | 30 | ' |
Allowance for credit losses, Provision for credit losses | -112 | 274 | 4 | 241 | ' |
Allowance for credit losses, Ending balance | 549 | 774 | 549 | 774 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 373 | 0 | 373 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 549 | 401 | 549 | 401 | ' |
Loans, Ending balance | 116,820 | 116,306 | 116,820 | 116,306 | 113,559 |
Loans, Ending balance, individually evaluated for impairment | 2,702 | 3,098 | 2,702 | 3,098 | ' |
Loans, Ending balance, collectively evaluated for impairment | 114,118 | 113,208 | 114,118 | 113,208 | ' |
Commercial - Loan and Leases [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 1,871 | 1,482 | 1,464 | 1,227 | ' |
Allowance for credit losses, Charge-offs | -2,115 | 0 | -2,115 | -202 | ' |
Allowance for credit losses, Recoveries | 12 | 56 | 53 | 72 | ' |
Allowance for credit losses, Provision for credit losses | 2,027 | -48 | 2,393 | 393 | ' |
Allowance for credit losses, Ending balance | 1,795 | 1,490 | 1,795 | 1,490 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 72 | 715 | 72 | 715 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 1,723 | 775 | 1,723 | 775 | ' |
Loans, Ending balance | 112,357 | 101,463 | 112,357 | 101,463 | 100,410 |
Loans, Ending balance, individually evaluated for impairment | 1,649 | 3,403 | 1,649 | 3,403 | ' |
Loans, Ending balance, collectively evaluated for impairment | 110,708 | 98,060 | 110,708 | 98,060 | ' |
Consumer Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for credit losses, Beginning balance | 11 | 27 | 14 | 29 | ' |
Allowance for credit losses, Charge-offs | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Recoveries | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Provision for credit losses | 0 | -14 | -3 | -16 | ' |
Allowance for credit losses, Ending balance | 11 | 13 | 11 | 13 | ' |
Allowance for credit losses, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Allowance for credit losses, Ending balance, collectively evaluated for impairment | 11 | 13 | 11 | 13 | ' |
Loans, Ending balance | 1,448 | 948 | 1,448 | 948 | 1,174 |
Loans, Ending balance, individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans, Ending balance, collectively evaluated for impairment | $1,448 | $948 | $1,448 | $948 | ' |
Credit_Quality_Assessment_Deta1
Credit Quality Assessment (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | $461,232 | $403,875 | $401,508 |
Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 455,758 | 400,693 | ' |
Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 5,474 | 3,182 | ' |
Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Construction and Land [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 62,649 | 50,884 | 49,390 |
Construction and Land [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 61,839 | 50,884 | ' |
Construction and Land [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Construction and Land [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 810 | 0 | ' |
Construction and Land [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Residential - First Lien [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 61,560 | 39,249 | 36,149 |
Residential - First Lien [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 61,246 | 38,918 | ' |
Residential - First Lien [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Residential - First Lien [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 314 | 331 | ' |
Residential - First Lien [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Residential Junior Lien [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 11,881 | 8,266 | 8,244 |
Residential Junior Lien [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 11,881 | 8,266 | ' |
Residential Junior Lien [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Residential Junior Lien [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Residential Junior Lien [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Owner Occupied [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 94,517 | 90,333 | 89,008 |
Commercial Owner Occupied [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 94,517 | 90,333 | ' |
Commercial Owner Occupied [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Owner Occupied [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Owner Occupied [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Non Owner Occupied [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 116,820 | 113,559 | 116,306 |
Commercial Non Owner Occupied [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 114,118 | 113,301 | ' |
Commercial Non Owner Occupied [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Non Owner Occupied [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 2,702 | 258 | ' |
Commercial Non Owner Occupied [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Loan and Leases [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 112,357 | 100,410 | 101,463 |
Commercial Loan and Leases [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 110,709 | 97,817 | ' |
Commercial Loan and Leases [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Commercial Loan and Leases [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 1,648 | 2,593 | ' |
Commercial Loan and Leases [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Consumer Loan [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 1,448 | 1,174 | 948 |
Consumer Loan [Member] | Not Classified [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 1,448 | 1,174 | ' |
Consumer Loan [Member] | Special Mention [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Consumer Loan [Member] | Substandard [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | 0 | 0 | ' |
Consumer Loan [Member] | Doubtful [Member] | ' | ' | ' |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Credit quality indicators | $0 | $0 | ' |
Credit_Quality_Assessment_Deta2
Credit Quality Assessment (Details 2) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | $458,060 | $398,951 | ' |
Accruing loans 31-59 days past due | 174 | 720 | ' |
Accruing loans 60-89 days past due | 652 | 567 | ' |
Accruing loans Greater than 90 days past due | 150 | 455 | ' |
Total past due | 976 | 1,742 | ' |
Non-accrual loans | 2,196 | 3,182 | ' |
Total loans | 461,232 | 403,875 | 401,508 |
Construction and Land [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 61,505 | 50,884 | ' |
Accruing loans 31-59 days past due | 0 | 0 | ' |
Accruing loans 60-89 days past due | 334 | 0 | ' |
Accruing loans Greater than 90 days past due | 0 | 0 | ' |
Total past due | 334 | 0 | ' |
Non-accrual loans | 810 | 0 | ' |
Total loans | 62,649 | 50,884 | 49,390 |
Residential - First Lien [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 60,928 | 38,025 | ' |
Accruing loans 31-59 days past due | 0 | 570 | ' |
Accruing loans 60-89 days past due | 318 | 323 | ' |
Accruing loans Greater than 90 days past due | 0 | 0 | ' |
Total past due | 318 | 893 | ' |
Non-accrual loans | 314 | 331 | ' |
Total loans | 61,560 | 39,249 | 36,149 |
Residential Junior Lien [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 11,827 | 8,266 | ' |
Accruing loans 31-59 days past due | 54 | 0 | ' |
Accruing loans 60-89 days past due | 0 | 0 | ' |
Accruing loans Greater than 90 days past due | 0 | 0 | ' |
Total past due | 54 | 0 | ' |
Non-accrual loans | 0 | 0 | ' |
Total loans | 11,881 | 8,266 | 8,244 |
Commercial Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 94,517 | 90,333 | ' |
Accruing loans 31-59 days past due | 0 | 0 | ' |
Accruing loans 60-89 days past due | 0 | 0 | ' |
Accruing loans Greater than 90 days past due | 0 | 0 | ' |
Total past due | 0 | 0 | ' |
Non-accrual loans | 0 | 0 | ' |
Total loans | 94,517 | 90,333 | 89,008 |
Commercial Non Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 116,670 | 113,142 | ' |
Accruing loans 31-59 days past due | 0 | 0 | ' |
Accruing loans 60-89 days past due | 0 | 0 | ' |
Accruing loans Greater than 90 days past due | 150 | 159 | ' |
Total past due | 150 | 159 | ' |
Non-accrual loans | 0 | 258 | ' |
Total loans | 116,820 | 113,559 | 116,306 |
Commercial Loan and Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 111,165 | 97,127 | ' |
Accruing loans 31-59 days past due | 120 | 150 | ' |
Accruing loans 60-89 days past due | 0 | 244 | ' |
Accruing loans Greater than 90 days past due | 0 | 296 | ' |
Total past due | 120 | 690 | ' |
Non-accrual loans | 1,072 | 2,593 | ' |
Total loans | 112,357 | 100,410 | 101,463 |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Accruing loans current | 1,448 | 1,174 | ' |
Accruing loans 31-59 days past due | 0 | 0 | ' |
Accruing loans 60-89 days past due | 0 | 0 | ' |
Accruing loans Greater than 90 days past due | 0 | 0 | ' |
Total past due | 0 | 0 | ' |
Non-accrual loans | 0 | 0 | ' |
Total loans | $1,448 | $1,174 | $948 |
Credit_Quality_Assessment_Deta3
Credit Quality Assessment (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | $5,475 | $5,475 | $6,290 |
Impaired loans, Recorded investment, With an allowance recorded | 188 | 188 | 1,266 |
Impaired loans, Recorded investment, With no related allowance recorded | 5,287 | 5,287 | 5,024 |
Impaired loans, Related allowance | 72 | 72 | 259 |
Impaired loans, Unpaid principal | 6,034 | 6,034 | 6,293 |
Average balance of impaired loans | 6,260 | 6,260 | 7,033 |
Interest income recognized | 100 | 291 | 343 |
Construction and Land [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 810 | 810 | 0 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 0 |
Impaired loans, Recorded investment, With no related allowance recorded | 810 | 810 | 0 |
Impaired loans, Related allowance | 0 | 0 | 0 |
Impaired loans, Unpaid principal | 1,316 | 1,316 | 0 |
Average balance of impaired loans | 810 | 760 | 0 |
Interest income recognized | 24 | 24 | 0 |
Residential - First Lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 314 | 314 | 331 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 331 |
Impaired loans, Recorded investment, With no related allowance recorded | 314 | 314 | 0 |
Impaired loans, Related allowance | 0 | 0 | 4 |
Impaired loans, Unpaid principal | 314 | 314 | 331 |
Average balance of impaired loans | 328 | 329 | 333 |
Interest income recognized | 4 | 13 | 15 |
Residential Junior Lien [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 | 0 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 0 |
Impaired loans, Recorded investment, With no related allowance recorded | 0 | 0 | 0 |
Impaired loans, Related allowance | 0 | 0 | 0 |
Impaired loans, Unpaid principal | 0 | 0 | 0 |
Average balance of impaired loans | 0 | 0 | 0 |
Interest income recognized | 0 | 0 | 0 |
Commercial Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 | 0 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 0 |
Impaired loans, Recorded investment, With no related allowance recorded | 0 | 0 | 0 |
Impaired loans, Related allowance | 0 | 0 | 0 |
Impaired loans, Unpaid principal | 0 | 0 | 0 |
Average balance of impaired loans | 0 | 0 | 0 |
Interest income recognized | 0 | 0 | 0 |
Commercial Non Owner Occupied [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 2,702 | 2,702 | 2,984 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 258 |
Impaired loans, Recorded investment, With no related allowance recorded | 2,702 | 2,702 | 2,726 |
Impaired loans, Related allowance | 0 | 0 | 31 |
Impaired loans, Unpaid principal | 2,701 | 2,701 | 2,984 |
Average balance of impaired loans | 2,706 | 2,717 | 2,994 |
Interest income recognized | 50 | 149 | 208 |
Commercial Loan and Leases [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 1,649 | 1,649 | 2,975 |
Impaired loans, Recorded investment, With an allowance recorded | 188 | 188 | 677 |
Impaired loans, Recorded investment, With no related allowance recorded | 1,461 | 1,461 | 2,298 |
Impaired loans, Related allowance | 72 | 72 | 224 |
Impaired loans, Unpaid principal | 1,703 | 1,703 | 2,978 |
Average balance of impaired loans | 2,416 | 2,454 | 3,706 |
Interest income recognized | 22 | 105 | 120 |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 | 0 |
Impaired loans, Recorded investment, With an allowance recorded | 0 | 0 | 0 |
Impaired loans, Recorded investment, With no related allowance recorded | 0 | 0 | 0 |
Impaired loans, Related allowance | 0 | 0 | 0 |
Impaired loans, Unpaid principal | 0 | 0 | 0 |
Average balance of impaired loans | 0 | 0 | 0 |
Interest income recognized | $0 | $0 | $0 |
Credit_Quality_Assessment_Deta4
Credit Quality Assessment (Details 4) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Loans | Loans | |
Trouble Debt Restructured Loans [Line Items] | ' | ' |
Number of Loans | 7 | ' |
Non-Accrual Status | $1,072 | ' |
Number of Loans | 1 | ' |
Accrual Status | 228 | ' |
Total TDR's | 1,300 | ' |
Residential Real Estate First Lien [Member] | ' | ' |
Trouble Debt Restructured Loans [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Non-Accrual Status | 314 | ' |
Number of Loans | 0 | ' |
Accrual Status | 0 | ' |
Total TDR's | 314 | ' |
Commercial Loan [Member] | ' | ' |
Trouble Debt Restructured Loans [Line Items] | ' | ' |
Number of Loans | 6 | 6 |
Non-Accrual Status | 758 | 861 |
Number of Loans | 1 | 0 |
Accrual Status | 228 | 0 |
Total TDR's | $986 | $861 |
Credit_Quality_Assessment_Deta5
Credit Quality Assessment (Details 5) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | $1,300 | $861 |
Residential Real Estate First Lien [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 314 | ' |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 986 | ' |
Commercial Loan [Member] | Commercial Loans and Forberance [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 758 | 861 |
Commercial Loan [Member] | Commercial Loans and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 228 | ' |
Residential Real Estate First Lien and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 314 | ' |
Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 1,072 | 861 |
Nonperforming Financing Receivable [Member] | Residential Real Estate First Lien [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 314 | ' |
Nonperforming Financing Receivable [Member] | Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 758 | ' |
Nonperforming Financing Receivable [Member] | Commercial Loan [Member] | Commercial Loans and Forberance [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 758 | 861 |
Nonperforming Financing Receivable [Member] | Commercial Loan [Member] | Commercial Loans and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 0 | ' |
Nonperforming Financing Receivable [Member] | Residential Real Estate First Lien and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 314 | ' |
Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 228 | 0 |
Performing Financing Receivable [Member] | Residential Real Estate First Lien [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 0 | ' |
Performing Financing Receivable [Member] | Commercial Loan [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 228 | ' |
Performing Financing Receivable [Member] | Commercial Loan [Member] | Commercial Loans and Forberance [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 0 | 0 |
Performing Financing Receivable [Member] | Commercial Loan [Member] | Commercial Loans and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | 228 | ' |
Performing Financing Receivable [Member] | Residential Real Estate First Lien and Extension Or Other Modification [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled Debt Restructuring Modifications | $0 | ' |
Credit_Quality_Assessment_Deta6
Credit Quality Assessment (Details Textual) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Credit Quality Indicator [Line Items] | ' | ' | ' |
Delinquent Loans, Outstanding Nonaccrual Status | $2,300,000 | ' | $3,600,000 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,196,000 | ' | 3,182,000 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 104,000 | ' | ' |
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans | ' | $178,000 | ' |
Non Accrual Delinquent Loans Outstanding Percentage | 51.00% | ' | ' |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Details Textual) (USD $) | Sep. 30, 2014 |
Derivative [Line Items] | ' |
Derivative Asset, Noncurrent | $14,300,000 |
Derivative, Fair Value, Net | $131,000 |
Intangibles_Details
Intangibles (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | ' | ' | $889 |
Accumulated Amortization | ' | ' | 91 |
Net Carrying Amount | $798 | $342 | $798 |
Weighted Average Remaining Life | ' | ' | '8 years 3 months 4 days |
Intangibles_Details_1
Intangibles (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
2014 | $45 | ' |
2015 | 170 | ' |
2016 | 130 | ' |
2017 | 101 | ' |
2018 | 81 | ' |
Thereafter | 271 | ' |
Total amortizing intangible assets | $798 | $342 |
Intangibles_Details_Textual
Intangibles (Details Textual) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-lived Intangible Assets Acquired | $513 | $376 |
Deposits_Details
Deposits (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Line Items] | ' | ' |
Noninterest-bearing demand | $106,237 | $89,759 |
Interest-bearing checking | 34,897 | 31,443 |
Money market accounts | 121,144 | 96,365 |
Savings | 13,177 | 12,496 |
Certificates of deposit $100,000 and over | 121,970 | 110,516 |
Certificates of deposit under $100,000 | 54,485 | 48,370 |
Total deposits | $451,910 | $388,949 |
Percentage of Noninterest-bearing demand | 24.00% | 23.00% |
Percentage of Interest-bearing checking | 7.00% | 8.00% |
Percentage of Money market accounts | 27.00% | 25.00% |
Percentage of Savings | 3.00% | 3.00% |
Percentage of Certificates of deposit $100,000 and over | 27.00% | 29.00% |
Percentage of Certificates of deposit under $100,000 | 12.00% | 12.00% |
Percentage of Total deposits | 100.00% | 100.00% |
Stock_Options_Awards_and_Warra2
Stock Options, Awards and Warrants (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Warrant [Member] | ' | ' |
Share Based Compensation Stock Options Activity [Line Items] | ' | ' |
Shares, Beginning Balance | 119,376 | 119,376 |
Shares, Granted | 0 | 0 |
Shares, Exercised | -47,068 | 0 |
Shares, Forfeited | -72,308 | 0 |
Shares, Ending Balance | 0 | 119,376 |
Shares, Exercisable | 0 | 119,376 |
Weighted Average Exercise Shares Price, Beginning Balance | $10 | $10 |
Weighted Average Exercise Shares Price, Granted | $0 | $0 |
Weighted Average Exercise Shares Price, Exercised | $10 | $0 |
Weighted Average Exercise Shares Price, Forfeited | $10 | $0 |
Weighted Average Exercise Shares Price, Ending Balance | $0 | $10 |
Weighted Average Exercise Shares Price, Exercisable | $0 | $10 |
Stock Options [Member] | ' | ' |
Share Based Compensation Stock Options Activity [Line Items] | ' | ' |
Shares, Beginning Balance | 387,101 | 395,351 |
Shares, Granted | 0 | 0 |
Shares, Exercised | 0 | 0 |
Shares, Forfeited | -118,310 | -8,250 |
Shares, Ending Balance | 268,791 | 387,101 |
Shares, Exercisable | 268,791 | 387,101 |
Weighted Average Exercise Shares Price, Beginning Balance | $11.19 | $11.16 |
Weighted Average Exercise Shares Price, Granted | $0 | $0 |
Weighted Average Exercise Shares Price, Exercised | $0 | $0 |
Weighted Average Exercise Shares Price, Forfeited | $10.02 | $9.90 |
Weighted Average Exercise Shares Price, Ending Balance | $11.71 | $11.19 |
Weighted Average Exercise Shares Price, Exercisable | $11.71 | $11.19 |
Weighted average fair value of options granted during the year | $0 | $0 |
Stock_Options_Awards_and_Warra3
Stock Options, Awards and Warrants (Details 1) (Restricted Stock [Member], USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | |
Restricted Stock [Member] | ' | ' | ' |
Share Based Compensation Restricted Stock Units Award Activity [Line Items] | ' | ' | ' |
Number of Shares, Beginning of period | ' | 50,000 | 0 |
Number of Shares, Granted | 44,500 | 0 | 50,000 |
Number of Shares, Vested | ' | -10,002 | 0 |
Number of Shares, Forfeited | ' | -6,668 | 0 |
Number of Shares, End of period | ' | 33,330 | 50,000 |
Weighted Average Grant-Date Fair Value, Beginning of period | ' | $6.89 | $0 |
Weighted Average Grant-Date Fair Value, Granted | ' | $0 | $6.89 |
Weighted Average Grant-Date Fair Value, Vested | ' | $6.91 | $0 |
Weighted Average Grant-Date Fair Value,Forfeited | ' | $6.85 | $0 |
Weighted Average Grant-Date Fair Value, End of period | ' | $6.89 | $6.89 |
Stock_Options_Awards_and_Warra4
Stock Options, Awards and Warrants (Details 2) (Restricted Stock Units (RSUs) [Member], USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share Based Compensation Restricted Stock Units Award Activity [Line Items] | ' | ' |
Number of Shares, Beginning of period | 0 | 0 |
Number of Shares, Granted | 44,500 | 0 |
Number of Shares, Vested | 0 | 0 |
Number of Shares,Forfeited | 0 | 0 |
Number of Shares, End of period | 44,500 | 0 |
Weighted Average Grant-Date Fair Value, Beginning of period | $0 | $0 |
Weighted Average Grant-Date Fair Value, Granted | $11.21 | $0 |
Weighted Average Grant-Date Fair Value, Vested | $0 | $0 |
Weighted Average Grant-Date Fair Value,Forfeited | $0 | $0 |
Weighted Average Grant-Date Fair Value, End of period | $11.21 | $0 |
Stock_Options_Awards_and_Warra5
Stock Options, Awards and Warrants (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Stock Options Awards And Warrants [Line Items] | ' | ' | ' | ' | ' |
Other Additional Capital | $4,775,000 | ' | ' | $4,775,000 | ' |
Warrants to Common Stock Share Equivalent Conversion Ratio | ' | ' | ' | 0.25 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | ' | ' | '10 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable Fair Market Value | $10.35 | ' | ' | $10.35 | ' |
Share-based Goods and Nonemployee Services Transaction, Shares Approved for Issuance | ' | ' | ' | 3,817 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 65,000 | ' | ' | 65,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 149,000 | ' | ' | 149,000 | ' |
Restricted Stock [Member] | ' | ' | ' | ' | ' |
Stock Options Awards And Warrants [Line Items] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | ' | ' | 50,000 | ' | 20,000 |
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Forfeitures In Period | ' | ' | ' | 6,668 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $431,000 | ' | ' | $431,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 44,500 | ' | 0 | 50,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | '19,500 of the units subject to a three year vesting schedule with one third of the units vesting each year on the grant date anniversary. The remaining 25,000 awarded units also are subject to a three year vesting schedule, however they only vest if certain annual performance measures are satisfactorily achieved. | ' | ' | ' | ' |
Vest on grant date anniversary [Member] | ' | ' | ' | ' | ' |
Stock Options Awards And Warrants [Line Items] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | ' | ' | 30,000 | ' | ' |
vest if performance achieved [Member] | ' | ' | ' | ' | ' |
Stock Options Awards And Warrants [Line Items] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | ' | ' | 20,000 | ' | ' |
Profit_Sharing_Plan_Details_Te
Profit Sharing Plan (Details Textual) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Profit Sharing Plan [Line Items] | ' | ' |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 15.00% | ' |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Amount | $204 | $103 |
Number Of Participants | 95 | 60 |
Maximum [Member] | ' | ' |
Profit Sharing Plan [Line Items] | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent | 4.00% | ' |
Income_per_Common_Share_Detail
Income per Common Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Net income | $236 | $407 | $1,239 | $1,404 |
Preferred dividends | -31 | -31 | -94 | -134 |
Net income available to common shareholders (numerator) | $205 | $376 | $1,145 | $1,270 |
BASIC | ' | ' | ' | ' |
Basic average common shares outstanding (denominator) | 4,081,685 | 4,040,471 | 4,061,598 | 4,040,105 |
Basic income per common share (in dollars per share) | $0.05 | $0.09 | $0.28 | $0.31 |
DILUTED | ' | ' | ' | ' |
Average common shares outstanding | 4,081,685 | 4,040,471 | 4,061,598 | 4,040,105 |
Diluted effect of common stock equivalents | 91,916 | 51,371 | 75,865 | 34,338 |
Diluted average common shares outstanding (denominator) | 4,173,601 | 4,091,842 | 4,137,463 | 4,074,443 |
Diluted income per common share (in dollars per share) | $0.05 | $0.09 | $0.28 | $0.31 |
Common stock equivalents outstanding that are anti-dilutive and thus excluded from calculation of diluted number of shares presented above | 209,347 | 486,422 | 209,347 | 486,422 |
RiskBased_Capital_Details
Risk-Based Capital (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Howard Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk-weighted assets) Actual amount | $52,135 | $49,902 |
Total capital (to risk-weighted assets) Actual ratio | 10.62% | 11.85% |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | 39,289 | 33,684 |
Total capital (to risk-weighted assets) For capital adequacy purposes ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | 49,112 | 42,105 |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets) Actual amount | 49,117 | 47,396 |
Tier 1 capital (to risk-weighted assets) Actual ratio | 10.00% | 11.26% |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | 19,645 | 16,842 |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | 29,467 | 25,263 |
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets) Actual amount | 49,117 | 47,396 |
Tier 1 capital (to average assets) Actual ratio | 9.05% | 9.77% |
Tier 1 capital (to average assets) For capital adequacy purposes amount | 21,719 | 19,406 |
Tier 1 capital (to average assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | 27,149 | 24,257 |
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions ratio | 5.00% | 5.00% |
Howard Bancorp [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital (to risk-weighted assets) Actual amount | 52,395 | 50,700 |
Total capital (to risk-weighted assets) Actual ratio | 10.69% | 12.05% |
Total capital (to risk-weighted assets) For capital adequacy purposes amount | 39,206 | 33,668 |
Total capital (to risk-weighted assets) For capital adequacy purposes ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | 0 | 0 |
Tier 1 capital (to risk-weighted assets) Actual amount | 49,377 | 48,195 |
Tier 1 capital (to risk-weighted assets) Actual ratio | 10.08% | 11.45% |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes amount | 19,603 | 16,834 |
Tier 1 capital (to risk-weighted assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk-weighted assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | 0 | 0 |
Tier 1 capital (to average assets) Actual amount | 49,377 | 48,195 |
Tier 1 capital (to average assets) Actual ratio | 9.09% | 9.93% |
Tier 1 capital (to average assets) For capital adequacy purposes amount | 21,739 | 19,414 |
Tier 1 capital (to average assets) For capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets) To be well capitalized under the FDICIA prompt corrective action provisions amount | $0 | $0 |
Preferred_Stock_Details_Textua
Preferred Stock (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 22, 2011 | Sep. 22, 2011 | Sep. 30, 2014 | Sep. 22, 2011 |
Second Through Tenth Dividend Periods [Member] | Second Through Tenth Dividend Periods [Member] | Eleventh through Nineteenth Dividend Periods [Member] | Eleventh through Nineteenth Dividend Periods [Member] | Series AA Preferred Stock Remains Outstanding for More than Four and One Half Years [Member] | Small Business Lending Fund Program [Member] | Qualified Small Business Lending [Member] | Qualified Small Business Lending [Member] | Senior Non Cumulative Perpetual Preferred Stock Series AA [Member] | |||
Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | ||||||||
Preferred Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued | 12,562 | 12,562 | ' | ' | ' | ' | ' | ' | ' | ' | 12,562 |
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' | ' | ' | $1,000 |
Preferred Stock, Value, Issued | $12,562,000 | $12,562,000 | ' | ' | ' | ' | ' | ' | ' | ' | $12,562,000 |
Funds Raised from Small Business Act | ' | ' | ' | ' | ' | ' | ' | 30,000,000,000 | ' | ' | ' |
Assets | $574,368,000 | $499,918,000 | ' | ' | ' | ' | ' | $10,000,000,000 | ' | ' | ' |
Preferred Stock, Aggregate Liquidation Amount, Dividend Rate, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 1.00% | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | 5.00% | 1.00% | 7.00% | 1.00% | 9.00% | ' | ' | ' | ' |
Fair_Value_Details
Fair Value (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | $27,112 | $28,688 |
Loans held for sale | 38,669 | 3,298 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 114 | 167 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Loans held for sale | 38,669 | ' |
Rate lock commitments | 131 | ' |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 22,999 | 28,521 |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 3,999 | ' |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 114 | 167 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | ' |
Rate lock commitments | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Loans held for sale | 38,669 | ' |
Rate lock commitments | 131 | ' |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 22,999 | 28,521 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 3,999 | ' |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 114 | 167 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Loans held for sale | 0 | ' |
Rate lock commitments | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured On Recurring Basis [Line Items] | ' | ' |
Investment securities | $0 | $0 |
Fair_Value_Details_1
Fair Value (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Other real estate owned | $2,472 | $2,377 |
Impaired loans, Recorded Investment | 5,475 | 6,290 |
Construction and Land [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 810 | 0 |
Residential - First Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 314 | 331 |
Residential Junior Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Commercial Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Commercial Non Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 2,702 | 2,984 |
Commercial Loan and Leases [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 1,649 | 2,975 |
Consumer Loan [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Other real estate owned | 2,472 | 2,377 |
Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 810 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 314 | 327 |
Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 2,702 | 2,953 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 1,461 | 2,754 |
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Other real estate owned | 2,472 | 2,377 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and Land [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 810 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential - First Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 314 | 327 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Residential Junior Lien [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Non Owner Occupied [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 2,702 | 2,953 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Commercial Loan and Leases [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | 1,461 | 2,754 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Consumer Loan [Member] | ' | ' |
Fair Value Assets Measured On NonRecurring Basis [Line Items] | ' | ' |
Impaired loans, Recorded Investment | $0 | $0 |
Fair_Value_Details_2
Fair Value (Details 2) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Cash and cash equivalents, Carrying Value | $17,671 | $35,736 |
Investment securities, Carrying Value | 27,112 | 28,688 |
Nonmarketable equity securities, Carrying Value | 2,700 | 2,282 |
Loans held for sale, Carrying Value | 38,669 | 3,298 |
Rate lock commitments, Carrying Value | 131 | ' |
Loans and leases, Carrying Value | 458,214 | 401,369 |
Cash and cash equivalents, Fair value | 17,671 | 35,736 |
Investment securities, Fair value | 27,112 | 28,688 |
Nonmarketable equity securities, Fair value | 2,700 | 2,282 |
Loans held for sale, Fair value | 38,669 | 3,298 |
Rate lock commitments, Fair value | 131 | ' |
Loans and leases, Fair value | 459,445 | 401,652 |
Financial Liabilities | ' | ' |
Deposits, Carrying Value | 451,910 | 388,949 |
Short-term borrowings, Carrying Value | 51,956 | 45,658 |
Long-term borrowings, Carrying Value | 19,000 | 16,000 |
Deposits, Fair value | 452,668 | 389,220 |
Short-term borrowings, Fair value | 51,956 | 45,658 |
Long-term borrowings, Fair value | 18,992 | 16,008 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and cash equivalents, Fair value | 0 | 0 |
Investment securities, Fair value | 0 | 0 |
Nonmarketable equity securities, Fair value | 0 | 0 |
Loans held for sale, Fair value | 0 | 0 |
Rate lock commitments, Fair value | 0 | ' |
Loans and leases, Fair value | 0 | 0 |
Financial Liabilities | ' | ' |
Deposits, Fair value | 0 | 0 |
Short-term borrowings, Fair value | 0 | 0 |
Long-term borrowings, Fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and cash equivalents, Fair value | 17,671 | 35,736 |
Investment securities, Fair value | 27,112 | 28,688 |
Nonmarketable equity securities, Fair value | 2,700 | 2,282 |
Loans held for sale, Fair value | 38,669 | 3,298 |
Rate lock commitments, Fair value | 131 | ' |
Loans and leases, Fair value | 0 | 0 |
Financial Liabilities | ' | ' |
Deposits, Fair value | 0 | 0 |
Short-term borrowings, Fair value | 51,956 | 45,658 |
Long-term borrowings, Fair value | 18,992 | 16,008 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and cash equivalents, Fair value | 0 | 0 |
Investment securities, Fair value | 0 | 0 |
Nonmarketable equity securities, Fair value | 0 | 0 |
Loans held for sale, Fair value | 0 | 0 |
Rate lock commitments, Fair value | 0 | ' |
Loans and leases, Fair value | 459,445 | 401,652 |
Financial Liabilities | ' | ' |
Deposits, Fair value | 452,668 | 389,220 |
Short-term borrowings, Fair value | 0 | 0 |
Long-term borrowings, Fair value | $0 | $0 |
Acquisition_Details_Textual
Acquisition (Details Textual) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Aug. 28, 2014 |
NBRS [Member] | |||
Acquisition [Line Items] | ' | ' | ' |
Deposits, Total | $451,910,000 | $388,949,000 | $18,800,000 |
Premium For Loan Amount | ' | ' | 384,000 |
Bank Loans | ' | ' | 16,100,000 |
Payments for Loans | ' | ' | $1,980,000 |
Subsequent_Event_Details_Textu
Subsequent Event (Details Textual) (Subsequent Event [Member], NBRS [Member], USD $) | Oct. 17, 2014 |
In Millions, unless otherwise specified | |
Subsequent Event [Member] | NBRS [Member] | ' |
Subsequent Event [Line Items] | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | $143.40 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 145.9 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 100.5 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 34.6 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Premium Percentage | 1.19% |
FDIC Indemnification Asset | 24.3 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Non Performing Loans | 2 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Non Performing Assets Receivables | $18.40 |