Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 21, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'First Guaranty Bancshares, Inc. | ' | ' |
Entity Central Index Key | '0001408534 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Public Float | ' | ' | $64,519,515 |
Entity Common Stock, Shares Outstanding | ' | 6,291,332 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $60,819 | $83,342 |
Federal funds sold | 665 | 2,891 |
Cash and cash equivalents | 61,484 | 86,233 |
Interest-earning time deposits with banks | 747 | 747 |
Investment securities: | ' | ' |
Available for sale, at fair value | 484,211 | 600,300 |
Held to maturity, at cost (estimated fair value of $141,642 and $58,939, respectively) | 150,293 | 58,943 |
Investment securities | 634,504 | 659,243 |
Federal Home Loan Bank stock, at cost | 1,835 | 1,275 |
Loans held for sale | 88 | 557 |
Loans, net of unearned income | 703,166 | 629,500 |
Less: allowance for loan losses | 10,355 | 10,342 |
Net loans | 692,811 | 619,158 |
Premises and equipment, net | 19,612 | 19,564 |
Goodwill | 1,999 | 1,999 |
Intangible assets, net | 2,073 | 2,413 |
Other real estate, net | 3,357 | 2,394 |
Accrued interest receivable | 6,258 | 6,711 |
Other assets | 11,673 | 7,009 |
Total Assets | 1,436,441 | 1,407,303 |
Deposits: | ' | ' |
Noninterest-bearing demand | 204,291 | 192,232 |
Interest-bearing demand | 391,350 | 348,870 |
Savings | 65,445 | 63,062 |
Time | 642,013 | 648,448 |
Total deposits | 1,303,099 | 1,252,612 |
Short-term borrowings | 5,788 | 14,746 |
Accrued interest payable | 2,364 | 2,840 |
Long-term borrowing | 500 | 1,100 |
Other liabilities | 1,285 | 1,824 |
Total Liabilities | 1,313,036 | 1,273,122 |
Stockholders' Equity | ' | ' |
Common stock: $1 par value - authorized 100,600,000 shares; issued 6,294,227 shares | 6,294 | 6,294 |
Surplus | 39,387 | 39,387 |
Treasury stock, at cost, 2,895 shares | -54 | -54 |
Retained earnings | 47,477 | 43,071 |
Accumulated other comprehensive (loss) income | -9,134 | 6,048 |
Total Stockholders' Equity | 123,405 | 134,181 |
Total Liabilities and Stockholders' Equity | 1,436,441 | 1,407,303 |
Series C - Preferred Stock $1,000 par value [Member] | ' | ' |
Stockholders' Equity | ' | ' |
Preferred stock: Series C - $1,000 par value - authorized 39,435 shares; issued and outstanding 39,435 | 39,435 | 39,435 |
Total Stockholders' Equity | $39,435 | $39,435 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Investment securities: | ' | ' |
Held to maturity investments, fair value | $141,642 | $58,939 |
Common stock: | ' | ' |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shares authorized (in shares) | 100,600,000 | 100,600,000 |
Common stock, shares issued (in shares) | 6,294,227 | 6,294,227 |
Treasury Stock (in shares) | 2,895 | 2,895 |
Series C - Preferred Stock $1,000 par value [Member] | ' | ' |
Preferred stock: | ' | ' |
Preferred stock, par value (in dollars per share) | $1,000 | $1,000 |
Preferred stock, shares authorized (in shares) | 39,435 | 39,435 |
Preferred stock, shares issued (in shares) | 39,435 | 39,435 |
Preferred stock, shares outstanding (in shares) | 39,435 | 39,435 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income: | ' | ' | ' |
Loans (including fees) | $37,289 | $36,136 | $34,839 |
Loans held for sale | 0 | 8 | 10 |
Deposits with other banks | 157 | 92 | 50 |
Securities (including FHLB stock) | 13,439 | 18,949 | 19,691 |
Federal funds sold | 1 | 10 | 19 |
Total Interest Income | 50,886 | 55,195 | 54,609 |
Interest Expense: | ' | ' | ' |
Demand deposits | 1,262 | 1,383 | 920 |
Savings deposits | 41 | 55 | 50 |
Time deposits | 9,682 | 11,560 | 13,962 |
Borrowings | 149 | 122 | 186 |
Total Interest Expense | 11,134 | 13,120 | 15,118 |
Net Interest Income | 39,752 | 42,075 | 39,491 |
Less: Provision for loan losses | 2,520 | 4,134 | 10,187 |
Net Interest Income after Provision for Loan Losses | 37,232 | 37,941 | 29,304 |
Noninterest Income: | ' | ' | ' |
Service charges, commissions and fees | 4,640 | 4,770 | 4,596 |
Net gains on securities | 1,571 | 4,868 | 3,531 |
Loss on securities impairment | 0 | 0 | -97 |
Net (loss) gains on sale of loans | -70 | -68 | 114 |
(Loss) gain on sale of fixed assets | 0 | -109 | 1 |
Gain on acquisition | 0 | 0 | 1,665 |
Other | 1,337 | 1,679 | 1,463 |
Total Noninterest Income | 7,478 | 11,140 | 11,273 |
Noninterest Expense: | ' | ' | ' |
Salaries and employee benefits | 14,368 | 13,668 | 12,529 |
Occupancy and equipment expense | 3,949 | 3,713 | 3,473 |
Other | 12,670 | 13,780 | 12,819 |
Total Noninterest Expense | 30,987 | 31,161 | 28,821 |
Income Before Income Taxes | 13,723 | 17,920 | 11,756 |
Less: Provision for income taxes | 4,577 | 5,861 | 3,723 |
Net Income | 9,146 | 12,059 | 8,033 |
Preferred stock dividends | -713 | -1,972 | -1,976 |
Income Available to Common Shareholders | $8,433 | $10,087 | $6,057 |
Per Common Share: | ' | ' | ' |
Earnings (in dollars per share) | $1.34 | $1.60 | $0.98 |
Cash dividends paid (in dollars per share) | $0.64 | $0.64 | $0.58 |
Weighted Average Common Shares Outstanding (in shares) | 6,291,332 | 6,292,855 | 6,205,652 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract] | ' | ' | ' |
Net Income | $9,146 | $12,059 | $8,033 |
Unrealized (losses) gains on securities: | ' | ' | ' |
Unrealized holding (losses) gains arising during the period | -21,432 | 7,263 | 10,692 |
Reclassification adjustments for net gains included in net income | -1,571 | -4,868 | -3,531 |
Change in unrealized (losses) gains on securities | -23,003 | 2,395 | 7,161 |
Tax impact | 7,821 | -814 | -2,435 |
Other comprehensive (loss) income | -15,182 | 1,581 | 4,726 |
Comprehensive (Loss) Income | ($6,036) | $13,640 | $12,759 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Series A Preferred Stock $1,000 Par [Member] | Series B Preferred Stock $1,000 Par [Member] | Series C Preferred Stock $1,000 Par [Member] | Common Stock $1 Par [Member] | Surplus [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/ (Loss) [Member] | Total |
In Thousands, unless otherwise specified | |||||||||
Balance at beginning of period at Dec. 31, 2010 | $19,859 | $1,116 | $0 | $6,116 | $36,240 | $0 | $34,866 | ($259) | $97,938 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | 8,033 | 0 | 8,033 |
Change in unrealized (gain) loss on AFS securities, net of reclassification adjustments and taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4,726 | 4,726 |
Common stock issued in acquisition | 0 | 0 | 0 | 178 | 3,147 | 0 | -294 | 0 | 3,031 |
Preferred stock issued | 0 | 0 | 39,435 | 0 | 0 | 0 | 0 | 0 | 39,435 |
Cash dividends on common stock | 0 | 0 | 0 | 0 | 0 | 0 | -3,610 | 0 | -3,610 |
Preferred stock repurchase, Series A & B | -20,030 | -1,098 | 0 | 0 | 0 | 0 | 0 | 0 | -21,128 |
Preferred stock dividends, amortization and accretion | 171 | -18 | 0 | 0 | 0 | 0 | -1,976 | 0 | -1,823 |
Balance at end of period at Dec. 31, 2011 | 0 | 0 | 39,435 | 6,294 | 39,387 | 0 | 37,019 | 4,467 | 126,602 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | 12,059 | 0 | 12,059 |
Change in unrealized (gain) loss on AFS securities, net of reclassification adjustments and taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,581 | 1,581 |
Treasury shares purchased | 0 | 0 | 0 | 0 | 0 | -54 | 0 | 0 | -54 |
Cash dividends on common stock | 0 | 0 | 0 | 0 | 0 | 0 | -4,035 | 0 | -4,035 |
Preferred stock dividends, amortization and accretion | 0 | 0 | 0 | 0 | 0 | 0 | -1,972 | 0 | -1,972 |
Balance at end of period at Dec. 31, 2012 | 0 | 0 | 39,435 | 6,294 | 39,387 | -54 | 43,071 | 6,048 | 134,181 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 0 | 0 | 0 | 0 | 0 | 0 | 9,146 | 0 | 9,146 |
Change in unrealized (gain) loss on AFS securities, net of reclassification adjustments and taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -15,182 | -15,182 |
Cash dividends on common stock | 0 | 0 | 0 | 0 | 0 | 0 | -4,027 | 0 | -4,027 |
Preferred stock dividends, amortization and accretion | 0 | 0 | 0 | 0 | 0 | 0 | -713 | 0 | -713 |
Balance at end of period at Dec. 31, 2013 | $0 | $0 | $39,435 | $6,294 | $39,387 | ($54) | $47,477 | ($9,134) | $123,405 |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common stock, par value (in dollars per share) | $1 | $1 | $1 |
Cash dividends per share (in dollars per share) | $0.64 | $0.64 | $0.58 |
Common stock issued in acquisition (in shares) | ' | ' | 179,036 |
Treasury shares purchased, at cost (in shares) | ' | 2,895 | ' |
Series A Preferred Stock $1,000 Par [Member] | ' | ' | ' |
Preferred stock, par value (in dollars per share) | $1,000 | $1,000 | $1,000 |
Series B Preferred Stock $1,000 Par [Member] | ' | ' | ' |
Preferred stock, par value (in dollars per share) | $1,000 | $1,000 | $1,000 |
Series C Preferred Stock $1,000 Par [Member] | ' | ' | ' |
Preferred stock, par value (in dollars per share) | $1,000 | $1,000 | $1,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows From Operating Activities: | ' | ' | ' |
Net income | $9,146 | $12,059 | $8,033 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 2,520 | 4,134 | 10,187 |
Depreciation and amortization | 2,111 | 2,096 | 1,718 |
Net amortization of investments | 2,141 | 1,962 | 1,109 |
Gain on acquisition | 0 | 0 | -1,665 |
Gain on sale/call of securities | -1,571 | -4,868 | -3,531 |
Loss (gain) on sale of assets | 61 | 259 | -116 |
Other than temporary impairment charge on securities | 0 | 0 | 97 |
ORE writedowns and loss on disposition | 335 | 1,480 | 764 |
FHLB stock dividends | -4 | -4 | -5 |
Net decrease (increase) in loans held for sale | 469 | -557 | 0 |
Change in other assets and liabilities, net | 1,958 | 338 | 1,379 |
Net cash provided by operating activities | 17,166 | 16,899 | 17,970 |
Cash Flows From Investing Activities: | ' | ' | ' |
Proceeds from maturities and calls of HTM securities | 16,184 | 144,640 | 227,565 |
Proceeds from maturities, calls and sales of AFS securities | 626,433 | 782,706 | 490,661 |
Funds invested in HTM securities | -107,616 | -65,873 | -190,125 |
Funds Invested in AFS securities | -533,320 | -884,258 | -668,616 |
Proceeds from sale/redemption of Federal Home Loan Bank stock | 3,268 | 4,030 | 2,483 |
Funds invested in Federal Home Loan Bank stock | -3,825 | -4,658 | -1,440 |
Funds invested in time deposits with banks | 0 | -747 | 0 |
Net (increase) decrease in loans | -78,777 | -63,864 | 50,099 |
Purchases of premises and equipment | -1,757 | -1,566 | -2,337 |
Proceeds from sales of premises and equipment | 0 | 178 | 24 |
Proceeds from sales of other real estate owned | 1,306 | 6,632 | 2,230 |
Cash received in excess of cash paid in acquisition | 0 | 0 | 4,992 |
Net cash used in investing activities | -78,104 | -82,780 | -84,464 |
Cash Flows From Financing Activities: | ' | ' | ' |
Net increase in deposits | 50,487 | 45,310 | 121,891 |
Net (decrease) increase in federal funds purchased and short-term borrowings | -8,958 | 2,523 | -366 |
Proceeds from long-term borrowings | 0 | 0 | 3,500 |
Repayment of long-term borrowings | -600 | -2,100 | -3,800 |
Repurchase of preferred stock | 0 | 0 | -21,128 |
Repurchase of common stock | 0 | -54 | 0 |
Proceeds from issuance of preferred stock | 0 | 0 | 39,435 |
Dividends paid | -4,740 | -6,007 | -5,433 |
Net cash provided by (used in) financing activities | 36,189 | 39,672 | 134,099 |
Net (decrease) increase in cash and cash equivalents | -24,749 | -26,209 | 67,605 |
Cash and cash equivalents at the beginning of the period | 86,233 | 112,442 | 44,837 |
Cash and cash equivalents at the end of the period | 61,484 | 86,233 | 112,442 |
Noncash activities: | ' | ' | ' |
Loans transferred to foreclosed assets | 2,604 | 4,793 | 5,817 |
Common stock issued in acquisition (179,036 shares) | 0 | 0 | 3,031 |
Cash paid during the period: | ' | ' | ' |
Interest on deposits and borrowed funds | 11,610 | 13,789 | 15,148 |
Income taxes | $2,850 | $5,800 | $2,850 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) | 12 Months Ended |
Dec. 31, 2011 | |
Noncash activities: | ' |
Common stock issued in acquisition (in shares) | 179,036 |
Business_and_Summary_of_Signif
Business and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Business and Summary of Significant Accounting Policies [Abstract] | ' |
Business and Summary of Significant Accounting Policies | ' |
Note 1. Business and Summary of Significant Accounting Policies | |
Business | |
First Guaranty Bancshares, Inc. (the “Company”) is a Louisiana corporation headquartered in Hammond, LA. The Company owns all of the outstanding shares of common stock of First Guaranty Bank. First Guaranty Bank (the “Bank”) is a Louisiana state-chartered commercial bank that provides a diversified range of financial services to consumers and businesses in the communities in which it operates. These services include consumer and commercial lending, mortgage loan origination, the issuance of credit cards and retail banking services. The Bank also maintains an investment portfolio comprised of government, government agency, corporate, and municipal securities. The Bank has twenty-one banking offices, including one drive-up banking facility, and twenty-seven automated teller machines (ATMs) in Southeast, Southwest and North Louisiana. | |
Summary of significant accounting policies | |
The accounting and reporting policies of the Company conform to generally accepted accounting principles and to predominant accounting practices within the banking industry. The more significant accounting and reporting policies are as follows: | |
Consolidation | |
The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc., and its wholly owned subsidiary, First Guaranty Bank. All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. | |
Acquisition Accounting | |
Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a gain on acquisition is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See Acquired Loans section below for accounting policy regarding loans acquired in a business combination. | |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles 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 dates of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of goodwill, intangible assets and other purchase accounting adjustments. In connection with the determination of the allowance for loan losses and real estate owned, the Company obtains independent appraisals for significant properties. | |
Cash and cash equivalents | |
For purposes of reporting cash flows, cash and cash equivalents are defined as cash, due from banks, interest-bearing demand deposits with banks and federal funds sold with maturities of three months or less. | |
Securities | |
The Company reviews its financial position, liquidity and future plans in evaluating the criteria for classifying investment securities. Debt securities that Management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities available for sale are stated at fair value. The unrealized difference, if any, between amortized cost and fair value of these AFS securities is excluded from income and is reported, net of deferred taxes, in accumulated other comprehensive income as a part of stockholders’ equity. Details of other comprehensive income are reported in the consolidated statements of comprehensive income. Realized gains and losses on securities are computed based on the specific identification method and are reported as a separate component of other income. | |
Any security that has experienced a decline in value, which Management believes is deemed other than temporary, is reduced to its estimated fair value by a charge to operations. In estimating other-than-temporary impairment losses, Management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Amortization of premiums and discounts is included in interest income. Discounts and premiums related to debt securities are amortized using the effective interest rate method. | |
Loans held for sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans held for sale have primarily been fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within thirty days. Buyers generally have recourse to return a purchased loan under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties and documentation deficiencies. Mortgage loans held for sale are generally sold with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the differences between the selling price and the carrying value of the related mortgage loans sold. | |
Loans | |
Loans are stated at the principal amounts outstanding, net of unearned income and deferred loan fees. In addition to loans issued in the normal course of business, overdrafts on customer deposit accounts are considered to be loans and reclassified as such. Interest income on all classifications of loans is calculated using the simple interest method on daily balances of the principal amount outstanding. | |
Accrual of interest is discontinued on a loan when Management believes, after considering economic and business conditions and collection efforts, the borrower’s financial condition is such that reasonable doubt exists as to the full and timely collection of principal and interest. This evaluation is made for all loans that are 90 days or more contractually past due. When a loan is placed in nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of interest and principal is probable. Loans are returned to accrual status when, in the judgment of Management, all principal and interest amounts contractually due are reasonably assured to be collected within a reasonable time frame and when the borrower has demonstrated payment performance of cash or cash equivalents; generally for a period of six months. All loans, except mortgage loans, are considered past due if they are past due 30 days. Mortgage loans are considered past due when two consecutive payments have been missed. Loans that are past due 90-120 days and deemed uncollectible are charged-off. The loan charge off is a reduction of the allowance for loan losses. | |
Credit Quality | |
The Company’s credit quality indicators are pass, special mention, substandard, and doubtful. | |
Loans included in the pass category are performing loans with satisfactory debt coverage ratios, collateral, payment history, and documentation requirements. | |
Special mention loans have potential weaknesses that deserve close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. | |
A substandard loan is inadequately protected by the paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. These loans require more intensive supervision. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk mitigates. For some substandard loans, the likelihood of full collection of interest and principal may be in doubt and interest is no longer accrued. For consumer loans that are 90 days or more past due or that are nonaccrual are considered substandard. | |
Doubtful loans have the weaknesses of substandard loans with the additional characteristic that the weaknesses make collection or liquidation in full questionable and there is a high probability of loss based on currently existing facts, conditions and values. | |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. This process is only applied to impaired loans or relationships in excess of $250,000. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, individual consumer and residential loans are not separately identified for impairment disclosures, unless such loans are the subject of a restructuring agreement. | |
Acquired Loans | |
Acquired loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Acquired loans are segregated between those with deteriorated credit quality at acquisition and those deemed as performing. To make this determination, Management considers such factors as past due status, nonaccrual status, credit risk ratings, interest rates and collateral position. The fair value of acquired loans deemed performing is determined by discounting cash flows, both principal and interest, for each pool at prevailing market interest rates as well as consideration of inherent potential losses. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan pool. | |
Purchased loans acquired in a business combination are recorded at their estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses is calculated using a similar methodology for originated loans. | |
Loan fees and costs | |
Nonrefundable loan origination and commitment fees and direct costs associated with originating loans are deferred and recognized over the lives of the related loans as an adjustment to the loans' yield using the level yield method. | |
Allowance for loan losses | |
The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely. The allowance, which is based on evaluation of the collectability of loans and prior loan loss experience, is an amount that, in the opinion of Management, reflects the risks inherent in the existing loan portfolio and exists at the reporting date. The evaluations take into consideration a number of subjective factors including changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, current economic conditions that may affect a borrower’s ability to pay, adequacy of loan collateral and other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require additional recognition of losses based on their judgments about information available to them at the time of their examination. | |
The following are general credit risk factors that affect the Company's loan portfolio segments. These factors do not encompass all risks associated with each loan category. Construction and land development loans have risks associated with interim construction prior to permanent financing and repayment risks due to the future sale of developed property. Farmland and agricultural loans have risks such as weather, government agricultural policies, fuel and fertilizer costs, and market price volatility. 1-4 family, multi-family, and consumer credits are strongly influenced by employment levels, consumer debt loads and the general economy. Non-farm non-residential loans include both owner occupied real estate and non-owner occupied real estate. Common risks associated with these properties is the ability to maintain tenant leases and keep lease income at a level able to service required debt and operating expenses. Commercial and industrial loans generally have non-real estate secured collateral which requires closer monitoring than real estate collateral. | |
Although Management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of changing economic conditions, the valuations determined from such estimates and appraisals may also change. Accordingly, the Company may ultimately incur losses that vary from Management's current estimates. Adjustments to the allowance for loan losses will be reported in the period such adjustments become known or can be reasonably estimated. All loan losses are charged to the allowance for loan losses when the loss actually occurs or when the collectability of the principal is unlikely. Recoveries are credited to the allowance at the time of recovery. | |
The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as doubtful, substandard, and impaired. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. Also, a specific reserve is allocated for our syndicated loans. The general component covers non-classified loans and special mention loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect the estimate of probable losses. | |
The allowance for loan losses is reviewed on a monthly basis. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit. A reserve is established as needed for estimates of probable losses on such commitments. | |
Goodwill and intangible assets | |
Goodwill and intangible assets deemed to have indefinite lives are subject to annual impairment tests. The Company’s goodwill is tested for impairment on an annual basis, or more often if events or circumstances indicate that there may be impairment. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. If the implied fair value is less than the carrying amount, a loss would be recognized in other non-interest expense to reduce the carrying amount to implied fair value of goodwill. The goodwill impairment test includes two steps that are preceded by a, “step zero”, qualitative test. The qualitative test allows Management to assess whether qualitative factors indicate that it is more likely than not that impairment exists. If it is not more likely than not that impairment exists, then no impairment exists and the two step quantitative test would not be necessary. These qualitative indicators include factors such as earnings, share price, market conditions, etc. If the qualitative factors indicate that it is more likely than not that impairment exists, then the two step quantitative test would be necessary. Step one is used to identify potential impairment and compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. Step two of the goodwill impairment test compares the implied estimated fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of goodwill for that reporting unit exceeds the implied fair value of that unit’s goodwill, an impairment loss is recognized in an amount equal to that excess. | |
Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with the related contract, asset or liability. The Company’s intangible assets primarily relate to core deposits. These core deposit intangibles are amortized on a straight-line basis over terms ranging from seven to fifteen years. Management periodically evaluates whether events or circumstances have occurred that impair this deposit intangible. | |
Premises and equipment | |
Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the respective assets as follows: | |
Buildings and improvements 10-40 years | |
Equipment, fixtures and automobiles 3-10 years | |
Expenditures for renewals and betterments are capitalized and depreciated over their estimated useful lives. Repairs, maintenance and minor improvements are charged to operating expense as incurred. Gains or losses on disposition, if any, are recorded as a separate line item in noninterest income on the Statements of Income. | |
Other real estate | |
Other real estate includes properties acquired through foreclosure or acceptance of deeds in lieu of foreclosure. These properties are recorded at the lower of the recorded investment in the property or its fair value less the estimated cost of disposition. Any valuation adjustments required prior to foreclosure are charged to the allowance for loan losses. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged to current period earnings as other real estate expense. Costs of operating and maintaining the properties are charged to other real estate expense as incurred. Any subsequent gains or losses on dispositions are credited or charged to income in the period of disposition. | |
Off-balance sheet financial instruments | |
In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under credit card arrangements, commitments to fund commercial real estate, construction and land development loans secured by real estate, and performance standby letters of credit. Such financial instruments are recorded when they are funded. | |
Income taxes | |
The Company and its subsidiary file a consolidated federal income tax return on a calendar year basis. In lieu of Louisiana state income tax, the Bank is subject to the Louisiana bank shares tax, which is included in noninterest expense in the Company’s consolidated financial statements. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations for years before 2010. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the deferred tax assets or liabilities are expected to be settled or realized. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be utilized. | |
Comprehensive income | |
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are presented in the Statements of Comprehensive Income. | |
Fair Value Measurements | |
The fair value of a financial instrument is the current amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. See Note 22 for a detailed description of fair value measurements. | |
Transfers of Financial Assets | |
Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (i) the assets have been isolated from the Company, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |
Earnings per common share | |
Earnings per share represent income available to common shareholders divided by the weighted average number of common shares outstanding during the period. In February of 2012, the Company issued a pro rata, 10% common stock dividend. The shares issued for the stock dividend have been retrospectively factored into the calculation of earnings per share as well as cash dividends paid on common stock and represented on the face of the financial statements. No convertible shares of the Company’s stock are outstanding. | |
Operating Segments | |
All of the Company’s operations are considered by management to be aggregated into one reportable operating segment. While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material. Operations are managed and financial performance is evaluated on a Company-wide basis. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Note 2. Recent Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income (AOCI).” The amendment requires an entity to present the reclassification adjustments out of AOCI and into net income for each component reported. This update is intended to supplement changes made in 2012 to increase the prominence of items reported in other comprehensive income. The standard became effective for the Company on January 1, 2013. The adoption of this guidance resulted in the disclosures in Note 14 below and did not have a material impact upon the Company’s financial statements. | |
Acquisition_Activity
Acquisition Activity | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Acquisition Activity [Abstract] | ' | |||
Acquisition Activity | ' | |||
Note 3. Acquisition Activity | ||||
On July 1, 2011 the Company completed a merger with Greensburg Bancshares, Inc. ("Greensburg") and its wholly owned subsidiary Bank of Greensburg, located in Greensburg, LA. The Company purchased 100% of the outstanding stock in Greensburg for a total consideration of $5.3 million. The total consideration includes 179,036 shares of the Company's stock issued at a market value of $16.93 per share for a total of $3.0 million and cash for Greensburg shares of $2.3 million. In addition, the Company assumed $3.5 million of debt to Greensburg shareholders and repaid the debt at the time of the acquisition. The merger with Greensburg allowed the Company to enter new markets, gain market share in locations where both entities previously existed, take advantage of operating efficiencies and build upon the Company's core deposit base. | ||||
The acquired assets and liabilities at fair value are presented in the following table. The table also includes intangible assets other than goodwill created in the acquisition, namely, core deposit intangible assets. | ||||
(in thousands) | As Recorded by First Guaranty Bancshares | |||
Cash and cash equivalents | $ | 7,270 | ||
Investment securities | 11,109 | |||
Loans | 63,001 | |||
Premises and equipment | 2,934 | |||
Core deposit intangible | 1,353 | |||
Other real estate owned | 2,309 | |||
Other assets | 1,410 | |||
Interest-bearing deposits | (61,880 | ) | ||
Noninterest-bearing deposits | (16,148 | ) | ||
Long-term debt | (3,500 | ) | ||
Deferred tax liability | (253 | ) | ||
Other liabilities | (632 | ) | ||
Gain on acquisition | (1,665 | ) | ||
Total purchase price | $ | 5,308 | ||
The Company based the allocation of the purchase price on the fair values of the assets acquired and the liabilities assumed. The net gain represents the excess of the estimated fair value of the assets acquired over the estimated fair value of the liabilities assumed less the total consideration given. The gain of $1.7 million was recognized as a gain on acquisition in the noninterest income section of the Company’s Consolidated Statements of Income. This acquisition was an open market, arms-length transaction. The gain was driven by an inactive market for the stock of Greensburg Bancshares, Inc. |
Cash_and_Due_from_Banks
Cash and Due from Banks | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Due from Banks [Abstract] | ' |
Cash and Due from Banks | ' |
Note 4. Cash and Due from Banks | |
Certain reserves are required to be maintained at the Federal Reserve Bank. The requirement as of December 31, 2013 and 2012 was $32.0 million and $27.9 million, respectively. At December 31, 2013 the Company did not have accounts at correspondent banks, excluding the Federal Reserve Bank, that exceeded the FDIC insurable limit of $250,000. In 2012, the Company had accounts at correspondent banks, excluding the Federal Reserve Bank, that exceeded the FDIC insurable limit of $250,000 totaling $0.6 million. | |
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
Note 5. Securities | |||||||||||||||||||||||||
A summary comparison of securities by type at December 31, 2013 and 2012 is shown below. | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S Treasuries | $ | 36,000 | $ | - | $ | - | $ | 36,000 | $ | 20,000 | $ | - | $ | - | $ | 20,000 | |||||||||
U.S. Government Agencies | 302,816 | - | (16,117 | ) | 286,699 | 392,616 | 751 | (278 | ) | 393,089 | |||||||||||||||
Corporate debt securities | 142,580 | 3,729 | (1,828 | ) | 144,481 | 159,488 | 8,024 | (401 | ) | 167,111 | |||||||||||||||
Mutual funds or other equity securities | 564 | - | (8 | ) | 556 | 564 | 23 | - | 587 | ||||||||||||||||
Municipal bonds | 16,091 | 384 | - | 16,475 | 18,481 | 1,032 | - | 19,513 | |||||||||||||||||
Total available-for-sale securities | 498,051 | 4,113 | (17,953 | ) | 484,211 | 591,149 | 9,830 | (679 | ) | 600,300 | |||||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government Agencies | 86,927 | - | (5,971 | ) | 80,956 | 58,943 | 175 | (179 | ) | 58,939 | |||||||||||||||
Mortgage-backed securities | 63,366 | - | (2,680 | ) | 60,686 | - | - | - | - | ||||||||||||||||
Total held to maturity securities | $ | 150,293 | $ | - | $ | (8,651 | ) | $ | 141,642 | $ | 58,943 | $ | 175 | $ | (179 | ) | $ | 58,939 | |||||||
The scheduled maturities of securities at December 31, 2013, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below. | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 45,610 | $ | 45,738 | |||||||||||||||||||||
Due after one year through five years | 190,239 | 189,238 | |||||||||||||||||||||||
Due after five years through 10 years | 221,356 | 211,724 | |||||||||||||||||||||||
Over 10 years | 40,846 | 37,511 | |||||||||||||||||||||||
Total available-for-sale securities | 498,051 | 484,211 | |||||||||||||||||||||||
Held to maturity: | |||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||
Due after one year through five years | - | - | |||||||||||||||||||||||
Due after five years through 10 years | 86,927 | 80,956 | |||||||||||||||||||||||
Over 10 years | - | - | |||||||||||||||||||||||
Subtotal | 86,927 | 80,956 | |||||||||||||||||||||||
Mortgage-backed Securities | 63,366 | 60,686 | |||||||||||||||||||||||
Total held to maturity securities | $ | 150,293 | $ | 141,642 | |||||||||||||||||||||
The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses: | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | ||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasuries | 3 | $ | 26,000 | $ | - | - | $ | - | $ | - | 3 | $ | 26,000 | $ | - | ||||||||||
U.S. Government agencies | 65 | 218,047 | (11,110 | ) | 21 | 68,652 | (5,007 | ) | 86 | 286,699 | (16,117 | ) | |||||||||||||
Corporate debt securities | 154 | 39,555 | (1,378 | ) | 22 | 5,173 | (450 | ) | 176 | 44,728 | (1,828 | ) | |||||||||||||
Mutual funds or other equity securities | 1 | 492 | (8 | ) | - | - | - | 1 | 492 | (8 | ) | ||||||||||||||
Total available-for-sale securities | 223 | 284,094 | (12,496 | ) | 43 | 73,825 | (5,457 | ) | 266 | 357,919 | (17,953 | ) | |||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government agencies | 14 | 50,520 | (3,743 | ) | 7 | 30,436 | (2,228 | ) | 21 | 80,956 | (5,971 | ) | |||||||||||||
Mortgage-backed securities | 26 | 60,686 | (2,680 | ) | - | - | - | 26 | 60,686 | (2,680 | ) | ||||||||||||||
Total held to maturity securities | 40 | $ | 111,206 | $ | (6,423 | ) | 7 | $ | 30,436 | $ | (2,228 | ) | 47 | $ | 141,642 | $ | (8,651 | ) | |||||||
The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses: | |||||||||||||||||||||||||
. | |||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | ||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasuries | 1 | $ | 20,000 | $ | - | - | $ | - | $ | - | 1 | $ | 20,000 | $ | - | ||||||||||
U.S. Government agencies | 34 | 119,952 | (278 | ) | - | - | - | 34 | 119,952 | (278 | ) | ||||||||||||||
Corporate debt securities | 59 | 13,222 | (183 | ) | 7 | 2,211 | (218 | ) | 66 | 15,433 | (401 | ) | |||||||||||||
Total available-for-sale securities | 94 | 153,174 | (461 | ) | 7 | 2,211 | (218 | ) | 101 | 155,385 | (679 | ) | |||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government agencies | 6 | 24,118 | (179 | ) | - | - | - | 6 | 24,118 | (179 | ) | ||||||||||||||
Total held to maturity securities | 6 | $ | 24,118 | $ | (179 | ) | - | $ | - | $ | - | 6 | $ | 24,118 | $ | (179 | ) | ||||||||
At December 31, 2013 and 2012 the carrying value of pledged securities totaled $503.1 million and $476.5 million, respectively. Gross realized gains on sales of securities were $1.4 million, $4.4 million and $3.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. Gross realized losses were $0, $7,000 and $0 for the years ended December 31, 2013, 2012 and 2011. The tax applicable to these transactions amounted to $0.5 million, $1.7 million, and $1.2 million for 2013, 2012 and 2011, respectively. Proceeds from sales of securities classified as available-for-sale amounted to $18.6 million, $77.9 million and $39.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Net unrealized losses on available-for-sale securities included in accumulated other comprehensive income (loss) ("AOCI"), net of applicable income taxes, totaled $9.1 million at December 31, 2013. At December 31, 2012 net unrealized gains included in AOCI, net of applicable income taxes, totaled $6.0 million. During 2013 and 2012 gains, net of tax, reclassified out of AOCI into earnings totaled $1.0 million and $3.2 million, respectively. | |||||||||||||||||||||||||
Securities are evaluated for other-than-temporary impairment at least quarterly and more frequently when economic or market conditions warrant. Consideration is given to (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) the recovery of contractual principal and interest and (iv) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||||||||||||||
Investment securities issued by the U.S. Government and Government sponsored agencies with unrealized losses and the amount of unrealized losses on those investment securities are the result of changes in market interest rates. The Company has the ability and intent to hold these securities until recovery, which may not be until maturity. | |||||||||||||||||||||||||
Corporate debt securities consist primarily of corporate bonds issued by businesses in the financial, insurance, utility, manufacturing, industrial, consumer products and oil and gas industries. The Company believes that each of the issuers will be able to fulfill the obligations of these securities based on evaluations described above. The Company has the ability and intent to hold these securities until they recover, which could be at their maturity dates. | |||||||||||||||||||||||||
The Company believes that the securities with unrealized losses reflect impairment that is temporary and there are currently no securities with other-than-temporary impairment. There were no impairments recognized on securities in 2013 or 2012. In 2011 the Company recognized a $0.1 million security impairment on BBC Capital Trust bonds. In August of 2011 these bonds were sold and $45,000 of the write-down was recovered and recognized as a gain on sale of securities in other noninterest income. | |||||||||||||||||||||||||
At December 31, 2013, the Company's exposure to investment securities issuers that exceeded 10% of stockholders’ equity as follows: | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
U.S. Treasuries | $ | 36,000 | $ | 36,000 | |||||||||||||||||||||
Federal Home Loan Bank (FHLB) | 142,043 | 133,042 | |||||||||||||||||||||||
Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) | 50,859 | 47,769 | |||||||||||||||||||||||
Federal National Mortgage Association (Fannie Mae-FNMA) | 138,563 | 132,031 | |||||||||||||||||||||||
Federal Farm Credit Bank (FFCB) | 121,643 | 115,498 | |||||||||||||||||||||||
Total | $ | 489,108 | $ | 464,340 |
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Loans [Abstract] | ' | ||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||
Note 6. Loans | |||||||||||||||||||||||||||||||
The following table summarizes the components of the Company's loan portfolio as of the dates indicated: | |||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(in thousands except for %) | Balance | As % of Category | Balance | As % of Category | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 47,550 | 6.7 | % | $ | 44,856 | 7.1 | % | |||||||||||||||||||||||
Farmland | 9,826 | 1.4 | % | 11,182 | 1.8 | % | |||||||||||||||||||||||||
1- 4 Family | 103,764 | 14.7 | % | 87,473 | 13.8 | % | |||||||||||||||||||||||||
Multifamily | 13,771 | 2 | % | 14,855 | 2.4 | % | |||||||||||||||||||||||||
Non-farm non-residential | 336,071 | 47.7 | % | 312,716 | 49.6 | % | |||||||||||||||||||||||||
Total Real Estate | 510,982 | 72.5 | % | 471,082 | 74.7 | % | |||||||||||||||||||||||||
Non-real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 21,749 | 3.1 | % | 18,476 | 2.9 | % | |||||||||||||||||||||||||
Commercial and industrial | 151,087 | 21.4 | % | 117,425 | 18.6 | % | |||||||||||||||||||||||||
Consumer and other | 20,917 | 3 | % | 23,758 | 3.8 | % | |||||||||||||||||||||||||
Total Non-real Estate | 193,753 | 27.5 | % | 159,659 | 25.3 | % | |||||||||||||||||||||||||
Total loans before unearned income | 704,735 | 100 | % | 630,741 | 100 | % | |||||||||||||||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 | |||||||||||||||||||||||||||
The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of December 31, 2013 and December 31, 2012 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. | |||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(in thousands) | Fixed | Floating | Total | Fixed | Floating | Total | |||||||||||||||||||||||||
One year or less | $ | 60,642 | $ | 70,602 | $ | 131,244 | $ | 89,117 | $ | 107,176 | $ | 196,293 | |||||||||||||||||||
One to five years | 220,490 | 209,587 | 430,077 | 147,896 | 175,743 | 323,639 | |||||||||||||||||||||||||
Five to 15 years | 71,655 | 26,076 | 97,731 | 33,770 | 42,595 | 76,365 | |||||||||||||||||||||||||
Over 15 years | 8,503 | 22,695 | 31,198 | 7,829 | 5,927 | 13,756 | |||||||||||||||||||||||||
Subtotal | $ | 361,290 | $ | 328,960 | 690,250 | $ | 278,612 | $ | 331,441 | 610,053 | |||||||||||||||||||||
Nonaccrual loans | 14,485 | 20,688 | |||||||||||||||||||||||||||||
Total loans before unearned income | 704,735 | 630,741 | |||||||||||||||||||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 | |||||||||||||||||||||||||||
As of December 31, 2013 $209.5 million of floating rate loans were at their interest rate floor. At December 31, 2012 $231.7 million of floating rate loans were at the floor rate. Nonaccrual loans have been excluded from these totals. | |||||||||||||||||||||||||||||||
The following tables present the age analysis of past due loans for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | 30-89 Days Past Due | 90 Days or Greater Past Due | Total Past Due | Current | Total Loans | Recorded Investment 90 Days Accruing | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 100 | $ | 73 | $ | 173 | $ | 47,377 | $ | 47,550 | $ | - | |||||||||||||||||||
Farmland | - | 130 | 130 | 9,696 | 9,826 | - | |||||||||||||||||||||||||
1 - 4 family | 3,534 | 4,662 | 8,196 | 95,568 | 103,764 | 414 | |||||||||||||||||||||||||
Multifamily | - | - | - | 13,771 | 13,771 | - | |||||||||||||||||||||||||
Non-farm non-residential | 154 | 7,539 | 7,693 | 328,378 | 336,071 | - | |||||||||||||||||||||||||
Total Real Estate | 3,788 | 12,404 | 16,192 | 494,790 | 510,982 | 414 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 526 | 526 | 21,223 | 21,749 | - | |||||||||||||||||||||||||
Commercial and industrial | 63 | 1,946 | 2,009 | 149,078 | 151,087 | - | |||||||||||||||||||||||||
Consumer and other | 123 | 23 | 146 | 20,771 | 20,917 | - | |||||||||||||||||||||||||
Total Non-Real Estate | 186 | 2,495 | 2,681 | 191,072 | 193,753 | - | |||||||||||||||||||||||||
Total loans before unearned income | $ | 3,974 | $ | 14,899 | $ | 18,873 | $ | 685,862 | 704,735 | $ | 414 | ||||||||||||||||||||
Unearned income | (1,569 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | 30-89 Days Past Due | 90 Days or Greater Past Due | Total Past Due | Current | Total Loans | Recorded Investment 90 Days Accruing | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 228 | $ | 854 | $ | 1,082 | $ | 43,774 | $ | 44,856 | $ | - | |||||||||||||||||||
Farmland | 96 | 312 | 408 | 10,774 | 11,182 | - | |||||||||||||||||||||||||
1 - 4 family | 4,895 | 5,058 | 9,953 | 77,520 | 87,473 | 455 | |||||||||||||||||||||||||
Multifamily | 156 | - | 156 | 14,699 | 14,855 | - | |||||||||||||||||||||||||
Non-farm non-residential | 1,137 | 11,571 | 12,708 | 300,008 | 312,716 | - | |||||||||||||||||||||||||
Total Real Estate | 6,512 | 17,795 | 24,307 | 446,775 | 471,082 | 455 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 512 | 512 | 17,964 | 18,476 | - | |||||||||||||||||||||||||
Commercial and industrial | 60 | 2,831 | 2,891 | 114,534 | 117,425 | - | |||||||||||||||||||||||||
Consumer and other | 115 | 5 | 120 | 23,638 | 23,758 | - | |||||||||||||||||||||||||
Total Non-Real Estate | 175 | 3,348 | 3,523 | 156,136 | 159,659 | - | |||||||||||||||||||||||||
Total loans before unearned income | $ | 6,687 | $ | 21,143 | $ | 27,830 | $ | 602,911 | 630,741 | $ | 455 | ||||||||||||||||||||
Unearned income | (1,241 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 629,500 | |||||||||||||||||||||||||||||
The tables above include $14.5 million and $20.7 million of nonaccrual loans for December 31, 2013 and 2012, respectively. See the tables below for more detail on nonaccrual loans. | |||||||||||||||||||||||||||||||
The following is a summary of nonaccrual loans by class for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 73 | $ | 854 | |||||||||||||||||||||||||||
Farmland | 130 | 312 | |||||||||||||||||||||||||||||
1 - 4 family | 4,248 | 4,603 | |||||||||||||||||||||||||||||
Multifamily | - | - | |||||||||||||||||||||||||||||
Non-farm non-residential | 7,539 | 11,571 | |||||||||||||||||||||||||||||
Total Real Estate | 11,990 | 17,340 | |||||||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 526 | 512 | |||||||||||||||||||||||||||||
Commercial and industrial | 1,946 | 2,831 | |||||||||||||||||||||||||||||
Consumer and other | 23 | 5 | |||||||||||||||||||||||||||||
Total Non-Real Estate | 2,495 | 3,348 | |||||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 14,485 | $ | 20,688 | |||||||||||||||||||||||||||
The following table identifies the credit exposure of the loan portfolio by specific credit ratings for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||
(in thousands) | Pass | Special Mention | Substandard | Doubtful | Total | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 40,286 | $ | 1,330 | $ | 5,934 | $ | - | $ | 47,550 | $ | 29,654 | $ | 5,595 | $ | 9,607 | $ | - | $ | 44,856 | |||||||||||
Farmland | 9,631 | 85 | 110 | - | 9,826 | 11,059 | - | 123 | - | 11,182 | |||||||||||||||||||||
1 - 4 family | 89,623 | 4,060 | 10,081 | - | 103,764 | 71,240 | 7,117 | 9,116 | - | 87,473 | |||||||||||||||||||||
Multifamily | 5,884 | 5,936 | 1,951 | - | 13,771 | 6,746 | 806 | 7,303 | - | 14,855 | |||||||||||||||||||||
Non-farm non-residential | 305,992 | 9,196 | 20,883 | - | 336,071 | 274,970 | 10,605 | 27,141 | - | 312,716 | |||||||||||||||||||||
Total Real Estate | 451,416 | 20,607 | 38,959 | - | 510,982 | 393,669 | 24,123 | 53,290 | - | 471,082 | |||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 21,486 | 11 | 252 | - | 21,749 | 17,969 | 75 | 432 | - | 18,476 | |||||||||||||||||||||
Commercial and industrial | 149,930 | 592 | 565 | - | 151,087 | 108,590 | 3,834 | 5,001 | - | 117,425 | |||||||||||||||||||||
Consumer and other | 20,720 | 117 | 80 | - | 20,917 | 23,560 | 140 | 58 | - | 23,758 | |||||||||||||||||||||
Total Non-Real Estate | 192,136 | 720 | 897 | - | 193,753 | 150,119 | 4,049 | 5,491 | - | 159,659 | |||||||||||||||||||||
Total loans before unearned income | $ | 643,552 | $ | 21,327 | $ | 39,856 | $ | - | 704,735 | $ | 543,788 | $ | 28,172 | $ | 58,781 | $ | - | 630,741 | |||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 |
Allowance_for_Loan_Losses
Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||||||||
Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||
Note 7. Allowance for Loan Losses | |||||||||||||||||||||||||||||||
A summary of changes in the allowance for loan losses, by loan type, for the year ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||||||||||
As of December, | |||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in thousands) | Beginning | Charge-offs | Recoveries | Provision | Ending | Beginning | Charge-offs | Recoveries | Provision | Ending Allowance(12/31/12) | |||||||||||||||||||||
Allowance (12/31/12) | Allowance (12/31/13) | Allowance (12/31/11) | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 1,098 | $ | (233 | ) | $ | 10 | $ | 655 | $ | 1,530 | $ | 1,002 | $ | (65 | ) | $ | 15 | $ | 146 | $ | 1,098 | |||||||||
Farmland | 50 | (31 | ) | 140 | (142 | ) | 17 | 65 | - | 1 | (16 | ) | 50 | ||||||||||||||||||
1 - 4 family | 2,239 | (220 | ) | 49 | (94 | ) | 1,974 | 1,917 | (1,409 | ) | 35 | 1,696 | 2,239 | ||||||||||||||||||
Multifamily | 284 | - | - | 92 | 376 | 780 | (187 | ) | - | (309 | ) | 284 | |||||||||||||||||||
Non-farm non-residential | 3,666 | (1,148 | ) | 8 | 1,081 | 3,607 | 2,980 | (459 | ) | 116 | 1,029 | 3,666 | |||||||||||||||||||
Total Real Estate | 7,337 | (1,632 | ) | 207 | 1,592 | 7,504 | 6,744 | (2,120 | ) | 167 | 2,546 | 7,337 | |||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 64 | (41 | ) | 5 | 18 | 46 | 125 | (49 | ) | 1 | (13 | ) | 64 | ||||||||||||||||||
Commercial and industrial | 2,488 | (1,098 | ) | 71 | 715 | 2,176 | 1,407 | (809 | ) | 329 | 1,561 | 2,488 | |||||||||||||||||||
Consumer and other | 233 | (262 | ) | 243 | (6 | ) | 208 | 314 | (473 | ) | 283 | 109 | 233 | ||||||||||||||||||
Unallocated | 220 | - | - | 201 | 421 | 289 | - | - | (69 | ) | 220 | ||||||||||||||||||||
Total Non-Real Estate | 3,005 | (1,401 | ) | 319 | 928 | 2,851 | 2,135 | (1,331 | ) | 613 | 1,588 | 3,005 | |||||||||||||||||||
Total | $ | 10,342 | $ | (3,033 | ) | $ | 526 | $ | 2,520 | $ | 10,355 | $ | 8,879 | $ | (3,451 | ) | $ | 780 | $ | 4,134 | $ | 10,342 | |||||||||
As of December, | |||||||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||
(in thousands) | Beginning | Charge-offs | Recoveries | Provision | Ending Allowance(12/31/11) | ||||||||||||||||||||||||||
Allowance (12/31/10) | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 977 | $ | (1,093 | ) | $ | 1 | $ | 1,117 | $ | 1,002 | ||||||||||||||||||||
Farmland | 46 | (144 | ) | - | 163 | 65 | |||||||||||||||||||||||||
1 - 4 family | 1,891 | (1,613 | ) | 118 | 1,521 | 1,917 | |||||||||||||||||||||||||
Multifamily | 487 | - | - | 293 | 780 | ||||||||||||||||||||||||||
Non-farm non-residential | 3,423 | (5,193 | ) | 13 | 4,737 | 2,980 | |||||||||||||||||||||||||
Total Real Estate | 6,824 | (8,043 | ) | 132 | 7,831 | 6,744 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 80 | (23 | ) | 2 | 66 | 125 | |||||||||||||||||||||||||
Commercial and industrial | 510 | (1,638 | ) | 371 | 2,164 | 1,407 | |||||||||||||||||||||||||
Consumer and other | 390 | (653 | ) | 227 | 350 | 314 | |||||||||||||||||||||||||
Unallocated | 513 | - | - | (224 | ) | 289 | |||||||||||||||||||||||||
Total Non-Real Estate | 1,493 | (2,314 | ) | 600 | 2,356 | 2,135 | |||||||||||||||||||||||||
Total | $ | 8,317 | $ | (10,357 | ) | $ | 732 | $ | 10,187 | $ | 8,879 | ||||||||||||||||||||
Negative provisions are caused by changes in the composition and credit quality of the loan portfolio. The result is an allocation of the loan loss reserve from one category to another. | |||||||||||||||||||||||||||||||
A summary of the allowance and loans individually and collectively evaluated for impairment are as follows: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Allowance Individually Evaluated for Impairment | Allowance Collectively Evaluated for Impairment | Total Allowance for Credit Losses | Loans | Loans | Total Loans before Unearned Income | |||||||||||||||||||||||||
Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 1,166 | $ | 364 | $ | 1,530 | $ | 5,777 | $ | 41,773 | $ | 47,550 | |||||||||||||||||||
Farmland | - | 17 | 17 | - | 9,826 | 9,826 | |||||||||||||||||||||||||
1 - 4 family | 25 | 1,949 | 1,974 | 2,868 | 100,896 | 103,764 | |||||||||||||||||||||||||
Multifamily | 304 | 72 | 376 | 1,951 | 11,820 | 13,771 | |||||||||||||||||||||||||
Non-farm non-residential | 1,053 | 2,554 | 3,607 | 19,279 | 316,792 | 336,071 | |||||||||||||||||||||||||
Total Real Estate | 2,548 | 4,956 | 7,504 | 29,875 | 481,107 | 510,982 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 46 | 46 | - | 21,749 | 21,749 | |||||||||||||||||||||||||
Commercial and industrial | - | 2,176 | 2,176 | - | 151,087 | 151,087 | |||||||||||||||||||||||||
Consumer and other | - | 208 | 208 | - | 20,917 | 20,917 | |||||||||||||||||||||||||
Unallocated | - | 421 | 421 | ||||||||||||||||||||||||||||
Total Non-Real Estate | - | 2,851 | 2,851 | - | 193,753 | 193,753 | |||||||||||||||||||||||||
Total | $ | 2,548 | $ | 7,807 | $ | 10,355 | $ | 29,875 | $ | 674,860 | 704,735 | ||||||||||||||||||||
Unearned Income | (1,569 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | Allowance Individually Evaluated for Impairment | Allowance Collectively Evaluated for Impairment | Total Allowance for Credit Losses | Loans | Loans | Total Loans before Unearned Income | |||||||||||||||||||||||||
Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 713 | $ | 385 | $ | 1,098 | $ | 8,865 | $ | 35,991 | $ | 44,856 | |||||||||||||||||||
Farmland | - | 50 | 50 | - | 11,182 | 11,182 | |||||||||||||||||||||||||
1 - 4 family | 91 | 2,148 | 2,239 | 2,126 | 85,347 | 87,473 | |||||||||||||||||||||||||
Multifamily | 244 | 40 | 284 | 7,302 | 7,553 | 14,855 | |||||||||||||||||||||||||
Non-farm non-residential | 1,535 | 2,131 | 3,666 | 25,904 | 286,812 | 312,716 | |||||||||||||||||||||||||
Total Real Estate | 2,583 | 4,754 | 7,337 | 44,197 | 426,885 | 471,082 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 64 | 64 | - | 18,476 | 18,476 | |||||||||||||||||||||||||
Commercial and industrial | 507 | 1,981 | 2,488 | 4,390 | 113,035 | 117,425 | |||||||||||||||||||||||||
Consumer and other | - | 233 | 233 | - | 23,758 | 23,758 | |||||||||||||||||||||||||
Unallocated | - | 220 | 220 | ||||||||||||||||||||||||||||
Total Non-Real Estate | 507 | 2,498 | 3,005 | 4,390 | 155,269 | 159,659 | |||||||||||||||||||||||||
Total | $ | 3,090 | $ | 7,252 | $ | 10,342 | $ | 48,587 | $ | 582,154 | 630,741 | ||||||||||||||||||||
Unearned Income | (1,241 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 629,500 | |||||||||||||||||||||||||||||
As of December 31, 2013, 2012 and 2011, the Company had loans totaling $14.5 million, $20.7 million and $22.5 million, respectively, not accruing interest. As of December 31, 2013, 2012 and 2011, the Company had loans past due 90 days or more and still accruing interest totaling $0.4 million, $0.5 million and $0.7 million, respectively. The average outstanding balance of nonaccrual loans in 2013 was $17.3 million compared to $22.1 million in 2012 and $24.9 million in 2011. | |||||||||||||||||||||||||||||||
As of December 31, 2013, the Company has no outstanding commitments to advance additional funds in connection with impaired loans. | |||||||||||||||||||||||||||||||
The following is a summary of impaired loans by class at December 31, 2013: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Interest Income Cash Basis | |||||||||||||||||||||||||
Impaired Loans with no related allowance: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | - | $ | - | $ | - | $ | 599 | $ | 35 | $ | 36 | |||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 441 | 441 | - | 472 | 28 | 35 | |||||||||||||||||||||||||
Multifamily | 607 | 607 | - | 5,890 | 359 | 382 | |||||||||||||||||||||||||
Non-farm non-residential | 4,722 | 5,456 | - | 7,579 | 425 | 527 | |||||||||||||||||||||||||
Total Real Estate | 5,770 | 6,504 | - | 14,540 | 847 | 980 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | 1,472 | 134 | 162 | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | - | - | - | 1,472 | 134 | 162 | |||||||||||||||||||||||||
Total Impaired Loans with no related allowance | 5,770 | 6,504 | - | 16,012 | 981 | 1,142 | |||||||||||||||||||||||||
Impaired Loans with an allowance recorded: | |||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||
Construction & land development | 5,777 | 5,777 | 1,166 | 6,345 | 383 | 360 | |||||||||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 2,427 | 2,620 | 25 | 1,643 | 121 | 107 | |||||||||||||||||||||||||
Multifamily | 1,344 | 1,344 | 304 | 1,348 | 89 | 96 | |||||||||||||||||||||||||
Non-farm non-residential | 14,557 | 17,469 | 1,053 | 14,868 | 775 | 573 | |||||||||||||||||||||||||
Total Real Estate | 24,105 | 27,210 | 2,548 | 24,204 | 1,368 | 1,136 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Impaired Loans with an allowance recorded | 24,105 | 27,210 | 2,548 | 24,204 | 1,368 | 1,136 | |||||||||||||||||||||||||
Total Impaired Loans | $ | 29,875 | $ | 33,714 | $ | 2,548 | $ | 40,216 | $ | 2,349 | $ | 2,278 | |||||||||||||||||||
The following is a summary of impaired loans by class at December 31, 2012: | |||||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Interest Income Cash Basis | |||||||||||||||||||||||||
Impaired Loans with no related allowance: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 3,177 | $ | 3,177 | $ | - | $ | 4,012 | $ | 414 | $ | 404 | |||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 1,516 | 2,176 | - | 2,102 | 162 | 73 | |||||||||||||||||||||||||
Multifamily | 1,351 | 1,351 | - | 1,355 | 103 | 110 | |||||||||||||||||||||||||
Non-farm non-residential | 2,936 | 2,982 | - | 5,963 | 427 | 287 | |||||||||||||||||||||||||
Total Real Estate | 8,980 | 9,686 | - | 13,432 | 1,106 | 874 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | 3,734 | 3,734 | - | 1,098 | 117 | 87 | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | 3,734 | 3,734 | - | 1,098 | 117 | 87 | |||||||||||||||||||||||||
Total Impaired Loans with no related allowance | 12,714 | 13,420 | - | 14,530 | 1,223 | 961 | |||||||||||||||||||||||||
Impaired Loans with an allowance recorded: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | 5,688 | 5,688 | 713 | 3,677 | 406 | 418 | |||||||||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 610 | 776 | 91 | 732 | 70 | 67 | |||||||||||||||||||||||||
Multifamily | 5,951 | 5,951 | 244 | 5,998 | 597 | 593 | |||||||||||||||||||||||||
Non-farm non-residential | 22,968 | 25,720 | 1,535 | 24,669 | 2,616 | 2,711 | |||||||||||||||||||||||||
Total Real Estate | 35,217 | 38,135 | 2,583 | 35,076 | 3,689 | 3,789 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | 656 | 656 | 507 | 786 | 94 | - | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | 656 | 656 | 507 | 786 | 94 | - | |||||||||||||||||||||||||
Total Impaired Loans with an allowance recorded | 35,873 | 38,791 | 3,090 | 35,862 | 3,783 | 3,789 | |||||||||||||||||||||||||
Total Impaired Loans | $ | 48,587 | $ | 52,211 | $ | 3,090 | $ | 50,392 | $ | 5,006 | $ | 4,750 | |||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||
A Troubled Debt Restructuring ("TDR") is a debt restructuring in which the creditor for economic or legal reasons related to the debtor's financial difficulties grants a concession to the debtor that it would not otherwise consider. The modifications to the Company's TDRs were concessions on the interest rate charged. The effect of the modifications to the Company was a reduction in interest income. These loans have an allocated reserve in the Company's reserve for loan losses. In 2013, there were no loans restructured in a troubled debt restructuring. | |||||||||||||||||||||||||||||||
The following table is an age analysis of TDRs as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||
(in thousands) | Current | 30-89 Days Past Due | Nonaccrual | Total TDRs | Current | 30-89 Days Past Due | Nonaccrual | Total TDRs | |||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | - | $ | - | $ | - | $ | - | $ | 2,602 | $ | - | $ | - | $ | 2,602 | |||||||||||||||
Farmland | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
1 - 4 Family | - | - | - | - | - | - | 1,296 | 1,296 | |||||||||||||||||||||||
Multifamily | - | - | - | - | 5,951 | - | - | 5,951 | |||||||||||||||||||||||
Non-farm non residential | 3,006 | - | 230 | 3,236 | 6,103 | - | 678 | 6,781 | |||||||||||||||||||||||
Total Real Estate | 3,006 | - | 230 | 3,236 | 14,656 | - | 1,974 | 16,630 | |||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total | $ | 3,006 | $ | - | $ | 230 | $ | 3,236 | $ | 14,656 | $ | - | $ | 1,974 | $ | 16,630 | |||||||||||||||
The following table discloses TDR activity for the twelve months ended December 31, 2013. | |||||||||||||||||||||||||||||||
Trouble Debt Restructured Loans Activity | |||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Beginning balance | New TDRs | Charge-offs post-modification | Transferred to ORE | Paydowns | Construction to permanent financing | Restructured to market terms | Ending balance | |||||||||||||||||||||||
(December 31, 2012) | {December 31, 2013} | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 2,602 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | (2,602 | ) | $ | - | ||||||||||||||
Farmland | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
1 - 4 family | 1,296 | - | - | (1,075 | ) | - | - | (221 | ) | - | |||||||||||||||||||||
Multifamily | 5,951 | - | - | - | (16 | ) | - | (5,935 | ) | - | |||||||||||||||||||||
Non-farm non-residential | 6,781 | - | (355 | ) | - | (95 | ) | - | (3,095 | ) | 3,236 | ||||||||||||||||||||
Total Real Estate | 16,630 | - | (355 | ) | (1,075 | ) | (111 | ) | - | (11,853 | ) | 3,236 | |||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Impaired Loans with no related allowance | $ | 16,630 | $ | - | $ | (355 | ) | $ | (1,075 | ) | $ | (111 | ) | $ | - | $ | (11,853 | ) | $ | 3,236 | |||||||||||
There were no commitments to lend additional funds to debtors whose terms have been modified in a troubled debt restructuring at December 31, 2013. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Premises and Equipment [Abstract] | ' | ||||||
Premises and Equipment | ' | ||||||
Note 8. Premises and Equipment | |||||||
The components of premises and equipment at December 31, 2013 and 2012 are as follows: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Land | $ | 6,251 | $ | 5,928 | |||
Bank premises | 18,051 | 17,485 | |||||
Furniture and equipment | 19,753 | 16,889 | |||||
Construction in progress | 195 | 122 | |||||
Acquired value | 44,250 | 40,424 | |||||
Less: accumulated depreciation | 24,638 | 20,860 | |||||
Net book value | $ | 19,612 | $ | 19,564 | |||
Depreciation expense amounted to $1.7 million, $1.6 million and $1.4 million for 2013, 2012 and 2011, respectively. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | ||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||
Note 9. Goodwill and Other Intangible Assets | |||||||||||||||||||
Goodwill and intangible assets deemed to have indefinite lives are no longer amortized, but are subject to impairment testing. Other intangible assets continue to be amortized over their useful lives. Goodwill represents the purchase price over the fair value of net assets acquired from the Homestead Bancorp in 2007. No impairment charges have been recognized since acquisition. Goodwill totaled $2.0 million at December 31, 2013 and 2012. | |||||||||||||||||||
The following table summarizes intangible assets subject to amortization. | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(in thousands) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||
Core deposit intangibles | $ | 9,350 | $ | 7,412 | $ | 1,938 | $ | 9,350 | $ | 7,093 | $ | 2,257 | |||||||
Mortgage servicing rights | 267 | 132 | 135 | 267 | 111 | 156 | |||||||||||||
Total | $ | 9,617 | $ | 7,544 | $ | 2,073 | $ | 9,617 | $ | 7,204 | $ | 2,413 | |||||||
The core deposits intangible reflect the value of deposit relationships, including the beneficial rates, which arose from acquisitions. The weighted-average amortization period remaining for the core deposit intangibles is 6.3 years. | |||||||||||||||||||
Amortization expense relating to purchase accounting intangibles totaled $0.3 million, $0.4 million, and $0.3 million for the year ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||
Amortization expense of the core deposit intangible assets for the next five years is as follows: | |||||||||||||||||||
For the Years Ended | Estimated Amortization Expense (in thousands) | ||||||||||||||||||
31-Dec-14 | $ | 320 | |||||||||||||||||
31-Dec-15 | $ | 320 | |||||||||||||||||
31-Dec-16 | $ | 320 | |||||||||||||||||
31-Dec-17 | $ | 320 | |||||||||||||||||
31-Dec-18 | $ | 320 | |||||||||||||||||
Other_Real_Estate
Other Real Estate | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Other Real Estate [Abstract] | ' | ||||||
Other Real Estate | ' | ||||||
Note 10. Other Real Estate | |||||||
Other real estate owned consists of the following: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Real Estate Owned Acquired by Foreclosure: | |||||||
Residential | $ | 1,803 | $ | 1,186 | |||
Construction & land development | 754 | 1,083 | |||||
Non-farm non-residential | 800 | 125 | |||||
Total Other Real Estate Owned and Foreclosed Property | $ | 3,357 | $ | 2,394 | |||
Deposits
Deposits | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Deposits [Abstract] | ' | |||
Deposits | ' | |||
Note 11. Deposits | ||||
Time deposits maturing in the next five years are as follows: | ||||
(in thousands) | 31-Dec-13 | |||
2014 | $ | 405,031 | ||
2015 | 135,032 | |||
2016 | 51,982 | |||
2017 | 23,009 | |||
2018 and thereafter | 26,959 | |||
Total | $ | 642,013 | ||
The table above includes, for December 31, 2013, brokered deposits totaling $21.2 million. The aggregate amount of jumbo time deposits, each with a minimum denomination of $100,000 totaled $433.1 million and $425.0 million at December 31, 2013 and 2012, respectively. |
Borrowings
Borrowings | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Borrowings [Abstract] | ' | |||||||||
Borrowings | ' | |||||||||
Note 12. Borrowings | ||||||||||
Short-term borrowings are summarized as follows: | ||||||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | ||||||||
Securities sold under agreements to repurchase | $ | 3,988 | $ | 12,946 | ||||||
Line of credit | 1,800 | 1,800 | ||||||||
Total short-term borrowings | $ | 5,788 | $ | 14,746 | ||||||
Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature daily. Interest rates on repurchase agreements are set by Management and are generally based on the 91-day Treasury bill rate. Repurchase agreement deposits are fully collateralized and monitored daily. | ||||||||||
Available lines of credit totaled $210.6 million at December 31, 2013 and $175.6 million at December 31, 2012. | ||||||||||
The following schedule provides certain information about the Company’s short-term borrowings for the periods indicated: | ||||||||||
December 31, | ||||||||||
(in thousands except for %) | 2013 | 2012 | 2011 | |||||||
Outstanding at year end | $ | 5,788 | $ | 14,746 | $ | 12,223 | ||||
Maximum month-end outstanding | $ | 57,302 | $ | 31,850 | $ | 22,493 | ||||
Average daily outstanding | $ | 21,387 | $ | 14,560 | $ | 11,030 | ||||
Weighted average rate during the year | 0.98 | % | 0.25 | % | 0.18 | % | ||||
Average rate at year end | 1.51 | % | 0.75 | % | 0.21 | % | ||||
The Company's senior long-term debt, priced at Wall Street Journal Prime plus 75 basis points (4.00%), totaled $0.5 million at December 31, 2013. The Company pays $50,000 principal plus interest monthly. This loan has a contractual maturity date of April 22, 2017 but will pay out in October 2014 due to advanced principal payments made in 2012. This long-term debt is secured by a pledge of 13.2% (735,745 shares) of the Company's interest in First Guaranty Bank (a wholly owned subsidiary) under Commercial Pledge Agreement dated June 22, 2012. | ||||||||||
The Company maintains a revolving line of credit for $2.5 million with an availability of $0.7 million at December 31, 2013. This line of credit is secured by the same collateral as the term loan and is priced at 4.50%. | ||||||||||
At December 31, 2013, letters of credit issued by the FHLB totaling $90.0 million were outstanding and carried as off-balance sheet items, all of which expire in 2014. At December 31, 2012, letters of credit issued by the FHLB totaling $50.0 million were outstanding and carried as off-balance sheet items, all of which expired in 2013. The letters of credit are solely used for pledging towards public fund deposits. The FHLB has a blanket lien on substantially all of the loans in the Company’s portfolio which is used to secure borrowing availability from the FHLB. The Company has obtained a subordination agreement from the FHLB on the Company’s farmland, agricultural, and commercial and industrial loans. These loans are available to be pledged for additional reserve liquidity. | ||||||||||
As of December 31, 2013 maturities on long-term debt were as follows: | ||||||||||
(in thousands) | Long-term debt | |||||||||
2014 | $ | 500 | ||||||||
2015 | - | |||||||||
2016 | - | |||||||||
2017 | - | |||||||||
2018 and thereafter | - | |||||||||
Total | $ | 500 | ||||||||
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Preferred Stock [Abstract] | ' |
Preferred Stock | ' |
Note 13. Preferred Stock | |
On September 22, 2011, the Company received $39.4 million in funds from the U.S. Treasury's Small Business Lending Fund program. $21.1 million of the funds were used to redeem the Company's Series A and B Preferred Stock issued to the U.S. Treasury under the Capital Purchase Program. The Preferred Series C shares will receive quarterly dividends and the initial dividend rate was 5.00%. The dividend rate is based on qualified loan growth two quarters in arrears. During 2013 the Company achieved the growth in qualified loans required to achieve the 1.0% dividend rate. The 1.0% rate is locked in until December 31, 2015. During 2013 the Company paid $0.7 million in preferred stock dividends compared to $2.0 million in 2012 and 2011. After 4.5 years in the program, the dividend rate will increase to 9.00% if the Preferred Series C shares have not been repurchased by that time. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive (Loss) Income | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accumulated Other Comprehensive (Loss) Income [Abstract] | ' | |||
Accumulated Other Comprehensive (Loss) Income | ' | |||
Note 14. Accumulated Other Comprehensive (Loss) Income | ||||
The following table details the changes in the single component of accumulated other comprehensive (loss) income for the twelve months ended December 31, 2013: | ||||
(in thousands) | Unrealized (Loss) Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive (Loss) Income: | ||||
Balance December 31, 2012 | $ | 6,048 | ||
Reclassification adjustments to net income: | ||||
Realized gains on securities | (1,571 | ) | ||
Provision for income taxes | 534 | |||
Unrealized losses arising during the period, net of tax | (14,145 | ) | ||
Balance December 31, 2013 | $ | (9,134 | ) | |
The following table details the changes in the single component of accumulated other comprehensive income for the twelve months ended December 31, 2012: | ||||
(in thousands) | Unrealized Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive Income: | ||||
Balance December 31, 2011 | $ | 4,467 | ||
Reclassification adjustments to net income: | ||||
Realized gains on securities | (4,868 | ) | ||
Provision for income taxes | 1,655 | |||
Unrealized gains arising during the period, net of tax | 4,794 | |||
Balance December 31, 2012 | $ | 6,048 | ||
The following table details the changes in the single component of accumulated other comprehensive income for the twelve months ended December 31, 2011: | ||||
(in thousands) | Unrealized (Loss) Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive Income: | ||||
Balance December 31, 2010 | $ | (259 | ) | |
Reclassification adjustments to net income: | ||||
Realized gains on securities | (3,531 | ) | ||
Provision for income taxes | 1,200 | |||
Unrealized gains arising during the period, net of tax | 7,057 | |||
Balance December 31, 2011 | $ | 4,467 |
Capital_Requirements
Capital Requirements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Capital Requirements [Abstract] | ' | ||||||||||||
Capital Requirements | ' | ||||||||||||
Note 15. Capital Requirements | |||||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. | |||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2013 and 2012, that the Company and the Bank met all capital adequacy requirements. | |||||||||||||
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that Management believes have changed the Bank’s category. The Company’s and the Bank’s actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table. | |||||||||||||
Actual | Minimum Capital Requirements | Minimum to be Well Capitalized Under Action Provisions | |||||||||||
(in thousands except for %) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||
31-Dec-13 | |||||||||||||
Total Risk-based Capital: | |||||||||||||
Consolidated | $ | 138,958 | 14.71 | % | $ | 75,594 | 8 | % | N/A | N/A | |||
Bank | $ | 139,234 | 14.76 | % | $ | 75,462 | 8 | % | $ | 94,328 | 10 | % | |
Tier 1 Capital: | |||||||||||||
Consolidated | $ | 128,603 | 13.61 | % | $ | 37,797 | 4 | % | N/A | N/A | |||
Bank | $ | 128,879 | 13.66 | % | $ | 37,731 | 4 | % | $ | 56,597 | 6 | % | |
Tier 1 Leverage Capital: | |||||||||||||
Consolidated | $ | 128,603 | 9.14 | % | $ | 56,307 | 4 | % | N/A | N/A | |||
Bank | $ | 128,879 | 9.17 | % | $ | 56,236 | 4 | % | $ | 70,295 | 5 | % | |
31-Dec-12 | |||||||||||||
Total Risk-based Capital: | |||||||||||||
Consolidated | $ | 134,229 | 15.31 | % | $ | 70,133 | 8 | % | N/A | N/A | |||
Bank | $ | 135,590 | 15.47 | % | $ | 70,095 | 8 | % | $ | 87,619 | 10 | % | |
Tier 1 Capital: | |||||||||||||
Consolidated | $ | 123,877 | 14.13 | % | $ | 35,066 | 4 | % | N/A | N/A | |||
Bank | $ | 125,238 | 14.29 | % | $ | 35,048 | 4 | % | $ | 52,571 | 6 | % | |
Tier 1 Leverage Capital: | |||||||||||||
Consolidated | $ | 123,877 | 9.24 | % | $ | 53,649 | 4 | % | N/A | N/A | |||
Bank | $ | 125,238 | 9.34 | % | $ | 53,644 | 4 | % | $ | 67,055 | 5 | % |
Dividend_Restrictions
Dividend Restrictions | 12 Months Ended |
Dec. 31, 2013 | |
Dividend Restrictions [Abstract] | ' |
Dividend Restrictions | ' |
Note 16. Dividend Restrictions | |
The Federal Reserve Bank ("FRB") has stated that, generally, a bank holding company should not maintain a rate of distributions to shareholders unless its available net income has been sufficient to fully fund the distributions, and the prospective rate of earnings retention appears consistent with the bank holding company’s capital needs, asset quality and overall financial condition. As a Louisiana corporation, the Company is restricted under the Louisiana corporate law from paying dividends under certain conditions. | |
First Guaranty Bank may not pay dividends or distribute capital assets if it is in default on any assessment due to the FDIC. First Guaranty Bank is also subject to regulations that impose minimum regulatory capital and minimum state law earnings requirements that affect the amount of cash available for distribution. In addition, under the Louisiana Banking Law, dividends may not be paid if it would reduce the unimpaired surplus below 50% of outstanding capital stock in any year. | |
The Bank is restricted under applicable laws in the payment of dividends to an amount equal to current year earnings plus undistributed earnings for the immediately preceding year, unless prior permission is received from the Commissioner of Financial Institutions for the State of Louisiana. Dividends payable by the Bank in 2014 without permission will be limited to 2014 earnings plus the undistributed earnings of $4.8 million from 2013. | |
Accordingly, at January 1, 2014, $118.9 million of the Company’s equity in the net assets of the Bank was restricted. In addition, dividends paid by the Bank to the Company would be prohibited if the effect thereof would cause the Bank’s capital to be reduced below applicable minimum capital requirements. | |
Under the requirements of the United States Treasury’s Small Business Lending Fund, the Company is permitted to pay dividends on its common stock, provided that: (i) the Company’s Tier 1 capital would be at least 90% of the amount of Tier 1 capital existing immediately after receipt of SBLF funds; and (ii) the SBLF Dividends have been declared and paid to Treasury as of the most recent applicable dividend period. The Company has met each SBLF dividend obligation in a timely manner since receipt of SBLF funds. After two years from receipt, the 90% limitation will decrease by 10% for every 1% increase in qualified small business lending. See Note 13 for disclosure on the Company’s SBLF Preferred Stock Series C. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Related Party Transactions [Abstract] | ' | ||||||
Related Party Transactions | ' | ||||||
Note 17. Related Party Transactions | |||||||
In the normal course of business, the Company and its subsidiary, First Guaranty Bank, have loans, deposits and other transactions with its executive officers, directors and certain business organizations and individuals with which such persons are associated. These transactions are completed with terms no less favorable than current market rates. An analysis of the activity of loans made to such borrowers during the year ended December 31, 2013 and 2012 follows: | |||||||
December 31, | |||||||
(in thousands) | 2013 | 2012 | |||||
Balance, beginning of year | $ | 33,148 | $ | 27,352 | |||
Net Increase | 16,803 | 5,796 | |||||
Balance, end of year | $ | 49,951 | $ | 33,148 | |||
Unfunded commitments to the Company and Bank directors and executive officers totaled $17.9 million and $17.2 million at December 31, 2013 and 2012, respectively. At December 31, 2013 the Company and the Bank had deposits from directors and executives totaling $34.1 million. There were no participations in loans purchased from affiliated financial institutions included in the Company’s loan portfolio in 2013 or 2012. | |||||||
During the years ended 2013, 2012 and 2011, the Company paid approximately $0.5 million, $0.6 million and $0.6 million, respectively, for printing services and supplies and office furniture and equipment to Champion Industries, Inc., of which Mr. Marshall T. Reynolds, the Chairman of the Company’s Board of Directors, is President, Chief Executive Officer, Chairman of the Board of Directors and holder of 53.7% of Champion's common stock as of October 31, 2013. | |||||||
The Company paid insurance expenses of $2.4 million, $1.7 million and $1.5 million for 2013, 2012 and 2011, respectively for participation in an employee medical benefit plan in which several entities under common ownership of the Company's Chairman participate. The Company retains risks associated with the plan. | |||||||
The Company paid travel expenses to Sabre Transportation, Inc. of $49,000, $0.2 million and $0.2 million for 2013, 2012 and 2011, respectively. These expenses include the utilization of an aircraft, fuel, air crew and ramp fees. The Harrah and Reynolds Corporation, of which Mr. Reynolds is President and Chief Executive Officer and sole shareholder, has controlling interest in Sabre Transportation, Inc. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Employee Benefit Plans [Abstract] | ' |
Employee Benefit Plans | ' |
Note 18. Employee Benefit Plans | |
The Company has an employee savings plan to which employees, who meet certain service requirements, may defer 1% to 20% of their base salaries, 6% of which may be matched up to 100%, at its sole discretion. Contributions to the savings plan were $81,000, $67,000 and $66,000 in 2013, 2012 and 2011, respectively. The Company has an Employee Stock Ownership Plan (“ESOP”) which was frozen in 2010. No contributions were made to the ESOP for the years 2013, 2012 or 2011. As of December 31, 2013, the ESOP held 16,927 shares. The Company does not plan to make future contributions to this plan. |
Other_Expenses
Other Expenses | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Other Expenses [Abstract] | ' | |||||||||
Other Expenses | ' | |||||||||
Note 19. Other Expenses | ||||||||||
The following is a summary of the significant components of other noninterest expense: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Other noninterest expense: | ||||||||||
Legal and professional fees | $ | 2,347 | $ | 1,990 | $ | 2,208 | ||||
Data processing | 1,269 | 1,225 | 1,230 | |||||||
Marketing and public relations | 638 | 697 | 654 | |||||||
Taxes - sales, capital and franchise | 584 | 661 | 640 | |||||||
Operating supplies | 487 | 581 | 574 | |||||||
Travel and lodging | 563 | 523 | 492 | |||||||
Telephone | 206 | 220 | 197 | |||||||
Amortization of core deposits | 320 | 350 | 285 | |||||||
Donations | 294 | 195 | 297 | |||||||
Net costs from other real estate and repossessions | 941 | 2,083 | 1,317 | |||||||
Regulatory assessment | 1,784 | 1,471 | 1,663 | |||||||
Other | 3,237 | 3,784 | 3,262 | |||||||
Total other noninterest expense | $ | 12,670 | $ | 13,780 | $ | 12,819 | ||||
The Company does not capitalize advertising costs. They are expensed as incurred and are included in other noninterest expense on the Consolidated Statements of Income. Advertising expense was $0.4 million, $0.4 million and $0.3 million for 2013, 2012 and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Income Taxes | ' | |||||||||
Note 20. Income Taxes | ||||||||||
The following is a summary of the provision for income taxes included in the Statements of Income: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Current | $ | 4,748 | $ | 6,366 | $ | 3,673 | ||||
Deferred | (171 | ) | (505 | ) | 50 | |||||
Total | $ | 4,577 | $ | 5,861 | $ | 3,723 | ||||
The difference between income taxes computed by applying the statutory federal income tax rate and the provision for income taxes in the financial statements is reconciled as follows: | ||||||||||
December 31, | ||||||||||
(in thousands except for %) | 2013 | 2012 | 2011 | |||||||
Statutory tax rate | 35 | % | 35 | % | 34 | % | ||||
Federal income taxes at statutory rate | $ | 4,803 | $ | 6,272 | $ | 4,001 | ||||
Tax exempt gain on acquisition | - | - | (566 | ) | ||||||
Tax exempt municipal income | (133 | ) | (156 | ) | (36 | ) | ||||
Other | (93 | ) | (255 | ) | 324 | |||||
Total | $ | 4,577 | $ | 5,861 | $ | 3,723 | ||||
Deferred taxes are recorded based upon differences between the financial statement and tax basis of assets and liabilities, and available tax credit carry forwards. Temporary differences between the financial statement and tax values of assets and liabilities give rise to deferred taxes. The significant components of deferred taxes classified in the Company's Consolidated Balance Sheets at December 31, 2013 and 2012 are as follows: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | ||||||||
Deferred tax assets: | ||||||||||
Allowance for loan losses | $ | 3,521 | $ | 3,516 | ||||||
Other real estate owned | 485 | 455 | ||||||||
Impairment writedown on securities | - | 168 | ||||||||
Unrealized losses on available for sale securities | 4,706 | - | ||||||||
Other | 425 | 540 | ||||||||
Gross deferred tax assets | 9,137 | 4,679 | ||||||||
Deferred tax liabilities: | ||||||||||
Depreciation and amortization | (2,517 | ) | (2,642 | ) | ||||||
Unrealized gains on available for sale securities | - | (3,114 | ) | |||||||
Other | (328 | ) | (220 | ) | ||||||
Gross deferred tax liabilities | (2,845 | ) | (5,976 | ) | ||||||
Net deferred tax assets (liabilities) | $ | 6,292 | $ | (1,297 | ) | |||||
As of December 31, 2013 and 2012, there were no net operating loss carryforwards for income tax purposes. | ||||||||||
ASC 740-10, Income Taxes, clarifies the accounting for uncertainty in income taxes and prescribes a recognition threshold and measurement attribute for the consolidated financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company does not believe it has any unrecognized tax benefits included in its consolidated financial statements. The Company has not had any settlements in the current period with taxing authorities, nor has it recognized tax benefits as a result of a lapse of the applicable statute of limitations. The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in noninterest expense. During the years ended December 31, 2013, 2012 and 2011, the Company did not recognize any interest or penalties in its consolidated financial statements, nor has it recorded an accrued liability for interest or penalty payments. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Commitments and Contingencies [Abstract] | ' | ||||||
Commitments and Contingencies | ' | ||||||
Note 21. Commitments and Contingencies | |||||||
Off-balance sheet commitments | |||||||
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit and standby and commercial letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets. The contract or notional amounts of those instruments reflect the extent of the involvement in particular classes of financial instruments. | |||||||
The exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby and commercial letters of credit is represented by the contractual notional amount of those instruments. Unless otherwise noted, collateral or other security is not required to support financial instruments with credit risk. | |||||||
Set forth below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at December 31, 2013 and December 31, 2012: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Contract Amount | |||||||
Commitments to Extend Credit | $ | 30,516 | $ | 26,775 | |||
Unfunded Commitments under lines of credit | $ | 115,311 | $ | 71,423 | |||
Commercial and Standby letters of credit | $ | 7,695 | $ | 5,470 | |||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on Management's credit evaluation of the counterpart. Collateral requirements vary but may include accounts receivable, inventory, property, plant and equipment, residential real estate and commercial properties. | |||||||
Standby and commercial letters of credit are conditional commitments to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. The majority of these guarantees are short-term, one year or less; however, some guarantees extend for up to three years. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities. Collateral requirements are the same as on-balance sheet instruments and commitments to extend credit. | |||||||
There were no losses incurred on off-balance sheet commitments in 2013, 2012 or 2011. | |||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Fair Value Measurements [Abstract] | ' | ||||||
Fair Value Measurements | ' | ||||||
Note 22. Fair Value Measurements | |||||||
The fair value of a financial instrument is the current amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | |||||||
Level 1 Inputs – Unadjusted quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | |||||||
Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds or credit risks) or inputs that are derived principally from or corroborated by market data by correlation or other means. | |||||||
Level 3 Inputs – Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | |||||||
A description of the valuation methodologies used for instruments measured at fair value follows, as well as the classification of such instruments within the valuation hierarchy. | |||||||
Securities available for sale.Securities are classified within Level 1 where quoted market prices are available in an active market. Inputs include securities that have quoted prices in active markets for identical assets. If quoted market prices are unavailable, fair value is estimated using quoted prices of securities with similar characteristics, at which point the securities would be classified within Level 2 of the hierarchy. Securities classified Level 3 as of December 31, 2013 include municipal bonds and an equity security. | |||||||
Impaired loans.Loans are measured for impairment using the methods permitted by ASC Topic 310. Fair value of impaired loans is measured by either the loans obtainable market price, if available (Level 1), the fair value of the collateral if the loan is collateral dependent (Level 2), or the present value of expected future cash flows, discounted at the loan's effective interest rate (Level 3). Fair value of the collateral is determined by appraisals or by independent valuation. | |||||||
Other real estate owned.Properties are recorded at the balance of the loan or at estimated fair value less estimated selling costs, whichever is less, at the date acquired. Fair values of other real estate owned ("OREO") at December 31, 2013 are determined by sales agreement or appraisal, and costs to sell are based on estimation per the terms and conditions of the sales agreement or amounts commonly used in real estate transactions. Inputs include appraisal values or recent sales activity for similar assets in the property’s market; thus OREO measured at fair value would be classified within Level 2 of the hierarchy. | |||||||
Certain non-financial assets and non-financial liabilities are measured at fair value on a non-recurring basis including assets and liabilities related to reporting units measured at fair value in the testing of goodwill impairment, as well as intangible assets and other non-financial long-lived assets measured at fair value for impairment assessment. | |||||||
The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Available for Sale Securities Fair Value Measurements Using: | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | 36,492 | $ | 20,522 | |||
Level 2: Significant Other Observable Inputs | 441,885 | 573,071 | |||||
Level 3: Significant Unobservable Inputs | 5,834 | 6,707 | |||||
Securities available for sale measured at fair value | $ | 484,211 | $ | 600,300 | |||
The Company's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While Management believes the methodologies used are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value. | |||||||
There were no transfers into Level 1 during 2013. One Government Agency security totaling $10.0 million was transferred from Level 1 to Level 2 because the security did not trade on the pricing date and quoted pricing for a similar asset in an active market was used. | |||||||
The change in Level 3 securities available for sale from December 31, 2012 was due to principal payments on municipal bonds totaling $0.9 million. | |||||||
The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3): | |||||||
Level 3 Changes | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Balance, beginning of year | $ | 6,707 | $ | 7,516 | |||
Total gains or losses (realized/unrealized): | |||||||
Included in earnings | - | - | |||||
Included in other comprehensive income | - | - | |||||
Purchases, sales, issuances and settlements, net | (873 | ) | (873 | ) | |||
Transfers in and/or out of Level 3 | - | 64 | |||||
Balance as of end of year | $ | 5,834 | $ | 6,707 | |||
There were no gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held as of December 31, 2013. | |||||||
The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 2013, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||
(in thousands) | At December 31, 2013 | At December 31, 2012 | |||||
Fair Value Measurements Using: Impaired Loans | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | - | $ | - | |||
Level 2: Significant Other Observable Inputs | 9,282 | 8,563 | |||||
Level 3: Significant Unobservable Inputs | 14,823 | 27,310 | |||||
Impaired loans measured at fair value | $ | 24,105 | $ | 35,873 | |||
Fair Value Measurements Using: Other Real Estate Owned | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | - | $ | - | |||
Level 2: Significant Other Observable Inputs | 3,357 | 2,394 | |||||
Level 3: Significant Unobservable Inputs | - | - | |||||
Other real estate owned measured at fair value | $ | 3,357 | $ | 2,394 | |||
ASC 825-10 provides the Company with an option to report selected financial assets and liabilities at fair value. The fair value option established by this statement permits the Company to choose to measure eligible items at fair value at specified election dates and report unrealized gains and losses on items for which the fair value option has been elected in earnings at each reporting date subsequent to implementation. | |||||||
The Company has chosen not to elect the fair value option for any items that are not already required to be measured at fair value in accordance with accounting principles generally accepted in the United States. | |||||||
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||
Financial Instruments | ' | ||||||||||||
Note 23. Financial Instruments | |||||||||||||
Fair value estimates are generally subjective in nature and are dependent upon a number of significant assumptions associated with each instrument or group of similar instruments, including estimates of discount rates, risks associated with specific financial instruments, estimates of future cash flows and relevant available market information. Fair value information is intended to represent an estimate of an amount at which a financial instrument could be exchanged in a current transaction between a willing buyer and seller engaging in an exchange transaction. However, since there are no established trading markets for a significant portion of the Company’s financial instruments, the Company may not be able to immediately settle financial instruments; as such, the fair values are not necessarily indicative of the amounts that could be realized through immediate settlement. In addition, the majority of the financial instruments, such as loans and deposits, are held to maturity and are realized or paid according to the contractual agreement with the customer. | |||||||||||||
Quoted market prices are used to estimate fair values when available. However, due to the nature of the financial instruments, in many instances quoted market prices are not available. Accordingly, estimated fair values have been estimated based on other valuation techniques, such as discounting estimated future cash flows using a rate commensurate with the risks involved or other acceptable methods. Fair values are estimated without regard to any premium or discount that may result from concentrations of ownership of financial instruments, possible income tax ramifications or estimated transaction costs. The fair value estimates are subjective in nature and involve matters of significant judgment and, therefore, cannot be determined with precision. Fair values are also estimated at a specific point in time and are based on interest rates and other assumptions at that date. As events change the assumptions underlying these estimates, the fair values of financial instruments will change. | |||||||||||||
Disclosure of fair values is not required for certain items such as lease financing, investments accounted for under the equity method of accounting, obligations of pension and other postretirement benefits, premises and equipment, other real estate, prepaid expenses, the value of long-term relationships with depositors (core deposit intangibles) and other customer relationships, other intangible assets and income tax assets and liabilities. Fair value estimates are presented for existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses have not been considered in the estimates. Accordingly, the aggregate fair value amounts presented do not purport to represent and should not be considered representative of the underlying market or franchise value of the Company. | |||||||||||||
Because the standard permits many alternative calculation techniques and because numerous assumptions have been used to estimate the fair values, reasonable comparison of the fair value information with other financial institutions' fair value information cannot necessarily be made. The methods and assumptions used to estimate the fair values of financial instruments are as follows: | |||||||||||||
Cash and due from banks, interest-bearing deposits with banks, federal funds sold and federal funds purchased. | |||||||||||||
These items are generally short-term and the carrying amounts reported in the consolidated balance sheets are a reasonable estimation of the fair values. | |||||||||||||
Investment Securities. | |||||||||||||
Fair values are principally based on quoted market prices. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or the use of discounted cash flow analyses. | |||||||||||||
Loans Held for Sale. | |||||||||||||
Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices. These loans are classified within level 3 of the fair value hierarchy. | |||||||||||||
Loans, net. | |||||||||||||
Market values are computed present values using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. These loans are classified within level 3 of the fair value hierarchy. | |||||||||||||
Accrued interest receivable. | |||||||||||||
The carrying amount of accrued interest receivable approximates its fair value. | |||||||||||||
Deposits. | |||||||||||||
Market values are actually computed present values using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Deposits are classified within level 3 of the fair value hierarchy. | |||||||||||||
Accrued interest payable. | |||||||||||||
The carrying amount of accrued interest payable approximates its fair value. | |||||||||||||
Borrowings. | |||||||||||||
The carrying amount of federal funds purchased and other short-term borrowings approximate their fair values. The fair value of the Company’s long-term borrowings is computed using net present value formulas. The present value is the sum of the present value of all projected cash flows on an item at a specified discount rate. The discount rate is set as an appropriate rate index, plus or minus an appropriate spread. Borrowings are classified within level 3 of the fair value hierarchy. | |||||||||||||
Other Unrecognized Financial Instruments. | |||||||||||||
The fair value of commitments to extend credit is estimated using the fees charged to enter into similar legally binding agreements, taking into account the remaining terms of the agreements and customers' credit ratings. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair values of letters of credit are based on fees charged for similar agreements or on estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. At December 31, 2013 and 2012 the fair value of guarantees under commercial and standby letters of credit was not material. | |||||||||||||
The estimated fair values and carrying values of the financial instruments at December 31, 2013 and 2012 are presented in the following table: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(in thousands) | Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 61,484 | $ | 61,484 | $ | 86,233 | $ | 86,233 | |||||
Securities, available for sale | $ | 484,211 | $ | 484,211 | $ | 600,300 | $ | 600,300 | |||||
Securities, held to maturity | $ | 150,293 | $ | 141,642 | $ | 58,943 | $ | 58,939 | |||||
Federal Home Loan Bank stock | $ | 1,835 | $ | 1,835 | $ | 1,275 | $ | 1,275 | |||||
Loans, net | $ | 703,166 | $ | 703,025 | $ | 629,500 | $ | 634,042 | |||||
Accrued interest receivable | $ | 6,258 | $ | 6,258 | $ | 6,711 | $ | 6,711 | |||||
Liabilities | |||||||||||||
Deposits | $ | 1,303,099 | $ | 1,265,898 | $ | 1,252,612 | $ | 1,235,526 | |||||
Borrowings | $ | 6,288 | $ | 6,288 | $ | 15,846 | $ | 15,846 | |||||
Accrued interest payable | $ | 2,364 | $ | 2,364 | $ | 2,840 | $ | 2,840 | |||||
There is no material difference between the contract amount and the estimated fair value of off-balance sheet items that are primarily comprised of short-term unfunded loan commitments that are generally at market prices. |
Concentrations_of_Credit_and_O
Concentrations of Credit and Other Risks | 12 Months Ended |
Dec. 31, 2013 | |
Concentrations of Credit and Other Risks [Abstract] | ' |
Concentrations of Credit and Other Risks | ' |
Note 24. Concentrations of Credit and Other Risks | |
The Company monitors loan portfolio concentrations by region, collateral type, loan type, and industry on a monthly basis and has established maximum thresholds as a percentage of its capital to ensure that the desired mix and diversification of its loan portfolio is achieved. The Company is compliant with the established thresholds as of December 31, 2013. Personal, commercial and residential loans are granted to customers, most of who reside in northern and southern areas of Louisiana. Although the Company has a diversified loan portfolio, significant portions of the loans are collateralized by real estate located in Tangipahoa Parish and surrounding parishes in Southeast Louisiana. Declines in the Louisiana economy could result in lower real estate values which could, under certain circumstances, result in losses to the Company. | |
The distribution of commitments to extend credit approximates the distribution of loans outstanding. Commercial and standby letters of credit were granted primarily to commercial borrowers. Generally, credit is not extended in excess of $10.0 million to any single borrower or group of related borrowers. | |
Approximately 38.6% of the Company’s deposits are derived from local governmental agencies at December 31, 2013. These governmental depositing authorities are generally long-term customers. A number of the depositing authorities are under contractual obligation to maintain their operating funds exclusively with the Company. In most cases, the Company is required to pledge securities or letters of credit issued by the Federal Home Loan Bank to the depositing authorities to collateralize their deposits. Under certain circumstances, the withdrawal of all of, or a significant portion of, the deposits of one or more of the depositing authorities may result in a temporary reduction in liquidity, depending primarily on the maturities and/or classifications of the securities pledged against such deposits and the ability to replace such deposits with either new deposits or other borrowings. Public fund deposits totaled $503.5 million of total deposits at December 31, 2013. |
Litigation
Litigation | 12 Months Ended |
Dec. 31, 2013 | |
Litigation [Abstract] | ' |
Litigation | ' |
Note 25. Litigation | |
The Company is subject to various legal proceedings in the normal course of its business. It is Management’s belief that the ultimate resolution of such claims will not have a material adverse effect on the Company’s financial position or results of operations. |
Condensed_Parent_Company_Infor
Condensed Parent Company Information | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Condensed Parent Company Information [Abstract] | ' | |||||||||
Condensed Parent Company Information | ' | |||||||||
Note 26. Condensed Parent Company Information | ||||||||||
The following condensed financial information reflects the accounts and transactions of First Guaranty Bancshares, Inc. for the dates indicated: | ||||||||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Balance Sheets | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | ||||||||
Assets | ||||||||||
Cash | $ | 433 | $ | 1,291 | ||||||
Investment in bank subsidiary | 123,681 | 135,538 | ||||||||
Investment securities: | ||||||||||
Available for sale, at fair value | 64 | 64 | ||||||||
Other assets | 1,748 | 407 | ||||||||
Total Assets | $ | 125,926 | $ | 137,300 | ||||||
Liabilities and Stockholders' Equity | ||||||||||
Short-term debt | $ | 1,800 | $ | 1,800 | ||||||
Long-term debt | 500 | 1,100 | ||||||||
Other liabilities | 221 | 219 | ||||||||
Total Liabilities | 2,521 | 3,119 | ||||||||
Stockholders' Equity | 123,405 | 134,181 | ||||||||
Total Liabilities and Stockholders' Equity | $ | 125,926 | $ | 137,300 | ||||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Statements of Income | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Operating Income | ||||||||||
Dividends received from bank subsidiary | $ | 4,669 | $ | 6,400 | $ | 4,600 | ||||
Other income | 90 | 1 | 32 | |||||||
Total operating income | 4,759 | 6,401 | 4,632 | |||||||
Operating Expenses | ||||||||||
Interest expense | 115 | 91 | 166 | |||||||
Salaries & Benefits | 88 | 101 | 85 | |||||||
Other expenses | 449 | 667 | 927 | |||||||
Total operating expenses | 652 | 859 | 1,178 | |||||||
Income before income tax benefit and increase in equity in undistributed earnings of subsidiary | 4,107 | 5,542 | 3,454 | |||||||
Income tax benefit | 212 | 373 | 200 | |||||||
Income before increase in equity in undistributed earnings of subsidiary | 4,319 | 5,915 | 3,654 | |||||||
Increase in equity in undistributed earnings of subsidiary | 4,827 | 6,144 | 4,379 | |||||||
Net Income | $ | 9,146 | $ | 12,059 | $ | 8,033 | ||||
Less preferred stock dividends | (713 | ) | (1,972 | ) | (1,976 | ) | ||||
Net income available to common shareholders | $ | 8,433 | $ | 10,087 | $ | 6,057 | ||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Statements of Cash Flow | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 9,146 | $ | 12,059 | $ | 8,033 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
(Increase) in equity in undistributed earnings of subsidiary | (4,827 | ) | (6,144 | ) | (4,379 | ) | ||||
Loss on sale of securities | - | 2 | - | |||||||
Net change in other liabilities | 2 | 32 | (349 | ) | ||||||
Net change in other assets | 161 | (122 | ) | (250 | ) | |||||
Net cash provided by operating activities | 4,482 | 5,827 | 3,055 | |||||||
Cash flows from investing activities: | ||||||||||
Proceeds from maturities, calls and sales of AFS securities | - | 248 | - | |||||||
Funds Invested in AFS securities | - | (41 | ) | - | ||||||
Payments for investments in and advances to subsidiary | - | - | (19,331 | ) | ||||||
Cash paid in excess of cash received in acquisition | - | - | (2,203 | ) | ||||||
Net cash provided by (used in) investing activities | - | 207 | (21,534 | ) | ||||||
Cash flows from financing activities: | ||||||||||
Proceeds from short-term debt | - | 1,800 | - | |||||||
Proceeds from long-term debt | - | - | 3,500 | |||||||
Repayment of long-term debt | (600 | ) | (2,100 | ) | (3,800 | ) | ||||
Proceeds from issuance of preferred stock | - | - | 39,435 | |||||||
Repurchase of preferred stock | - | - | (21,128 | ) | ||||||
Repurchase of common stock | - | (54 | ) | - | ||||||
Dividends paid | (4,740 | ) | (6,007 | ) | (5,433 | ) | ||||
Net cash provided by (used in) financing activities | (5,340 | ) | (6,361 | ) | 12,574 | |||||
Net decrease in cash and cash equivalents | (858 | ) | (327 | ) | (5,905 | ) | ||||
Cash and cash equivalents at the beginning of the period | 1,291 | 1,618 | 7,523 | |||||||
Cash and cash equivalents at the end of the period | $ | 433 | $ | 1,291 | $ | 1,618 |
Business_and_Summary_of_Signif1
Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Business and Summary of Significant Accounting Policies [Abstract] | ' |
Consolidation | ' |
Consolidation | |
The consolidated financial statements include the accounts of First Guaranty Bancshares, Inc., and its wholly owned subsidiary, First Guaranty Bank. All significant intercompany balances and transactions have been eliminated in consolidation. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. | |
Acquisition Accounting | ' |
Acquisition Accounting | |
Acquisitions are accounted for under the purchase method of accounting. Purchased assets, including identifiable intangibles, and assumed liabilities are recorded at their respective acquisition date fair values. If the fair value of net assets purchased exceeds the consideration given, a gain on acquisition is recognized. If the consideration given exceeds the fair value of the net assets received, goodwill is recognized. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. See Acquired Loans section below for accounting policy regarding loans acquired in a business combination. | |
Use of estimates | ' |
Use of estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles 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 dates of the financial statements and the reported amounts of revenue and expense during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and the valuation of goodwill, intangible assets and other purchase accounting adjustments. In connection with the determination of the allowance for loan losses and real estate owned, the Company obtains independent appraisals for significant properties. | |
Cash and cash equivalents | ' |
Cash and cash equivalents | |
For purposes of reporting cash flows, cash and cash equivalents are defined as cash, due from banks, interest-bearing demand deposits with banks and federal funds sold with maturities of three months or less. | |
Securities | ' |
Securities | |
The Company reviews its financial position, liquidity and future plans in evaluating the criteria for classifying investment securities. Debt securities that Management has the ability and intent to hold to maturity are classified as held to maturity and carried at cost, adjusted for amortization of premiums and accretion of discounts using methods approximating the interest method. Securities available for sale are stated at fair value. The unrealized difference, if any, between amortized cost and fair value of these AFS securities is excluded from income and is reported, net of deferred taxes, in accumulated other comprehensive income as a part of stockholders’ equity. Details of other comprehensive income are reported in the consolidated statements of comprehensive income. Realized gains and losses on securities are computed based on the specific identification method and are reported as a separate component of other income. | |
Any security that has experienced a decline in value, which Management believes is deemed other than temporary, is reduced to its estimated fair value by a charge to operations. In estimating other-than-temporary impairment losses, Management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Amortization of premiums and discounts is included in interest income. Discounts and premiums related to debt securities are amortized using the effective interest rate method. | |
Loans held for sale | ' |
Loans held for sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans held for sale have primarily been fixed rate single-family residential mortgage loans under contract to be sold in the secondary market. In most cases, loans in this category are sold within thirty days. Buyers generally have recourse to return a purchased loan under limited circumstances. Recourse conditions may include early payment default, breach of representations or warranties and documentation deficiencies. Mortgage loans held for sale are generally sold with the mortgage servicing rights released. Gains or losses on sales of mortgage loans are recognized based on the differences between the selling price and the carrying value of the related mortgage loans sold. | |
Loans | ' |
Loans | |
Loans are stated at the principal amounts outstanding, net of unearned income and deferred loan fees. In addition to loans issued in the normal course of business, overdrafts on customer deposit accounts are considered to be loans and reclassified as such. Interest income on all classifications of loans is calculated using the simple interest method on daily balances of the principal amount outstanding. | |
Accrual of interest is discontinued on a loan when Management believes, after considering economic and business conditions and collection efforts, the borrower’s financial condition is such that reasonable doubt exists as to the full and timely collection of principal and interest. This evaluation is made for all loans that are 90 days or more contractually past due. When a loan is placed in nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of interest and principal is probable. Loans are returned to accrual status when, in the judgment of Management, all principal and interest amounts contractually due are reasonably assured to be collected within a reasonable time frame and when the borrower has demonstrated payment performance of cash or cash equivalents; generally for a period of six months. All loans, except mortgage loans, are considered past due if they are past due 30 days. Mortgage loans are considered past due when two consecutive payments have been missed. Loans that are past due 90-120 days and deemed uncollectible are charged-off. The loan charge off is a reduction of the allowance for loan losses. | |
Credit Quality | ' |
Credit Quality | |
The Company’s credit quality indicators are pass, special mention, substandard, and doubtful. | |
Loans included in the pass category are performing loans with satisfactory debt coverage ratios, collateral, payment history, and documentation requirements. | |
Special mention loans have potential weaknesses that deserve close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. | |
A substandard loan is inadequately protected by the paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. These loans require more intensive supervision. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk mitigates. For some substandard loans, the likelihood of full collection of interest and principal may be in doubt and interest is no longer accrued. For consumer loans that are 90 days or more past due or that are nonaccrual are considered substandard. | |
Doubtful loans have the weaknesses of substandard loans with the additional characteristic that the weaknesses make collection or liquidation in full questionable and there is a high probability of loss based on currently existing facts, conditions and values. | |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. This process is only applied to impaired loans or relationships in excess of $250,000. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, individual consumer and residential loans are not separately identified for impairment disclosures, unless such loans are the subject of a restructuring agreement. | |
Acquired Loans | ' |
Acquired Loans | |
Acquired loans are recorded at estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Acquired loans are segregated between those with deteriorated credit quality at acquisition and those deemed as performing. To make this determination, Management considers such factors as past due status, nonaccrual status, credit risk ratings, interest rates and collateral position. The fair value of acquired loans deemed performing is determined by discounting cash flows, both principal and interest, for each pool at prevailing market interest rates as well as consideration of inherent potential losses. The difference between the fair value and principal balances due at acquisition date, the fair value discount, is accreted into income over the estimated life of each loan pool. | |
Purchased loans acquired in a business combination are recorded at their estimated fair value on their purchase date with no carryover of the related allowance for loan losses. Performing acquired loans are subsequently evaluated for any required allowance at each reporting date. An allowance for loan losses is calculated using a similar methodology for originated loans. | |
Loan fees and costs | ' |
Loan fees and costs | |
Nonrefundable loan origination and commitment fees and direct costs associated with originating loans are deferred and recognized over the lives of the related loans as an adjustment to the loans' yield using the level yield method. | |
Allowance for loan losses | ' |
Allowance for loan losses | |
The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely. The allowance, which is based on evaluation of the collectability of loans and prior loan loss experience, is an amount that, in the opinion of Management, reflects the risks inherent in the existing loan portfolio and exists at the reporting date. The evaluations take into consideration a number of subjective factors including changes in the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, current economic conditions that may affect a borrower’s ability to pay, adequacy of loan collateral and other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require additional recognition of losses based on their judgments about information available to them at the time of their examination. | |
The following are general credit risk factors that affect the Company's loan portfolio segments. These factors do not encompass all risks associated with each loan category. Construction and land development loans have risks associated with interim construction prior to permanent financing and repayment risks due to the future sale of developed property. Farmland and agricultural loans have risks such as weather, government agricultural policies, fuel and fertilizer costs, and market price volatility. 1-4 family, multi-family, and consumer credits are strongly influenced by employment levels, consumer debt loads and the general economy. Non-farm non-residential loans include both owner occupied real estate and non-owner occupied real estate. Common risks associated with these properties is the ability to maintain tenant leases and keep lease income at a level able to service required debt and operating expenses. Commercial and industrial loans generally have non-real estate secured collateral which requires closer monitoring than real estate collateral. | |
Although Management uses available information to recognize losses on loans, because of uncertainties associated with local economic conditions, collateral values and future cash flows on impaired loans, it is reasonably possible that a material change could occur in the allowance for loan losses in the near term. However, the amount of the change that is reasonably possible cannot be estimated. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of changing economic conditions, the valuations determined from such estimates and appraisals may also change. Accordingly, the Company may ultimately incur losses that vary from Management's current estimates. Adjustments to the allowance for loan losses will be reported in the period such adjustments become known or can be reasonably estimated. All loan losses are charged to the allowance for loan losses when the loss actually occurs or when the collectability of the principal is unlikely. Recoveries are credited to the allowance at the time of recovery. | |
The allowance consists of specific, general, and unallocated components. The specific component relates to loans that are classified as doubtful, substandard, and impaired. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. Also, a specific reserve is allocated for our syndicated loans. The general component covers non-classified loans and special mention loans and is based on historical loss experience adjusted for qualitative factors. An unallocated component is maintained to cover uncertainties that could affect the estimate of probable losses. | |
The allowance for loan losses is reviewed on a monthly basis. The monitoring of credit risk also extends to unfunded credit commitments, such as unused commercial credit lines and letters of credit. A reserve is established as needed for estimates of probable losses on such commitments. | |
Goodwill and Intangible assets | ' |
Goodwill and intangible assets | |
Goodwill and intangible assets deemed to have indefinite lives are subject to annual impairment tests. The Company’s goodwill is tested for impairment on an annual basis, or more often if events or circumstances indicate that there may be impairment. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. If the implied fair value is less than the carrying amount, a loss would be recognized in other non-interest expense to reduce the carrying amount to implied fair value of goodwill. The goodwill impairment test includes two steps that are preceded by a, “step zero”, qualitative test. The qualitative test allows Management to assess whether qualitative factors indicate that it is more likely than not that impairment exists. If it is not more likely than not that impairment exists, then no impairment exists and the two step quantitative test would not be necessary. These qualitative indicators include factors such as earnings, share price, market conditions, etc. If the qualitative factors indicate that it is more likely than not that impairment exists, then the two step quantitative test would be necessary. Step one is used to identify potential impairment and compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. Step two of the goodwill impairment test compares the implied estimated fair value of reporting unit goodwill with the carrying amount of that goodwill. If the carrying amount of goodwill for that reporting unit exceeds the implied fair value of that unit’s goodwill, an impairment loss is recognized in an amount equal to that excess. | |
Identifiable intangible assets are acquired assets that lack physical substance but can be distinguished from goodwill because of contractual or legal rights or because the assets are capable of being sold or exchanged either on their own or in combination with the related contract, asset or liability. The Company’s intangible assets primarily relate to core deposits. These core deposit intangibles are amortized on a straight-line basis over terms ranging from seven to fifteen years. Management periodically evaluates whether events or circumstances have occurred that impair this deposit intangible. | |
Premises and equipment | ' |
Premises and equipment | |
Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the respective assets as follows: | |
Buildings and improvements 10-40 years | |
Equipment, fixtures and automobiles 3-10 years | |
Expenditures for renewals and betterments are capitalized and depreciated over their estimated useful lives. Repairs, maintenance and minor improvements are charged to operating expense as incurred. Gains or losses on disposition, if any, are recorded as a separate line item in noninterest income on the Statements of Income. | |
Other real estate | ' |
Other real estate | |
Other real estate includes properties acquired through foreclosure or acceptance of deeds in lieu of foreclosure. These properties are recorded at the lower of the recorded investment in the property or its fair value less the estimated cost of disposition. Any valuation adjustments required prior to foreclosure are charged to the allowance for loan losses. Subsequent to foreclosure, losses on the periodic revaluation of the property are charged to current period earnings as other real estate expense. Costs of operating and maintaining the properties are charged to other real estate expense as incurred. Any subsequent gains or losses on dispositions are credited or charged to income in the period of disposition. | |
Off-balance sheet financial instruments | ' |
Off-balance sheet financial instruments | |
In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under credit card arrangements, commitments to fund commercial real estate, construction and land development loans secured by real estate, and performance standby letters of credit. Such financial instruments are recorded when they are funded. | |
Income taxes | ' |
Income taxes | |
The Company and its subsidiary file a consolidated federal income tax return on a calendar year basis. In lieu of Louisiana state income tax, the Bank is subject to the Louisiana bank shares tax, which is included in noninterest expense in the Company’s consolidated financial statements. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations for years before 2010. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the deferred tax assets or liabilities are expected to be settled or realized. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be utilized. | |
Comprehensive income | ' |
Comprehensive income | |
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are presented in the Statements of Comprehensive Income. | |
Fair Value Measurements | ' |
Fair Value Measurements | |
The fair value of a financial instrument is the current amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. Valuation techniques use certain inputs to arrive at fair value. Inputs to valuation techniques are the assumptions that market participants would use in pricing the asset or liability. They may be observable or unobservable. The Company uses a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. See Note 22 for a detailed description of fair value measurements. | |
Transfers of Financial Assets | ' |
Transfers of Financial Assets | |
Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (i) the assets have been isolated from the Company, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |
Earnings per common share | ' |
Earnings per common share | |
Earnings per share represent income available to common shareholders divided by the weighted average number of common shares outstanding during the period. In February of 2012, the Company issued a pro rata, 10% common stock dividend. The shares issued for the stock dividend have been retrospectively factored into the calculation of earnings per share as well as cash dividends paid on common stock and represented on the face of the financial statements. No convertible shares of the Company’s stock are outstanding. | |
Operating Segments | ' |
Operating Segments | |
All of the Company’s operations are considered by management to be aggregated into one reportable operating segment. While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material. Operations are managed and financial performance is evaluated on a Company-wide basis. |
Acquisition_Activity_Tables
Acquisition Activity (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Acquisition Activity [Abstract] | ' | |||
Schedule of acquired assets and liabilities at fair value | ' | |||
The acquired assets and liabilities at fair value are presented in the following table. The table also includes intangible assets other than goodwill created in the acquisition, namely, core deposit intangible assets. | ||||
(in thousands) | As Recorded by First Guaranty Bancshares | |||
Cash and cash equivalents | $ | 7,270 | ||
Investment securities | 11,109 | |||
Loans | 63,001 | |||
Premises and equipment | 2,934 | |||
Core deposit intangible | 1,353 | |||
Other real estate owned | 2,309 | |||
Other assets | 1,410 | |||
Interest-bearing deposits | (61,880 | ) | ||
Noninterest-bearing deposits | (16,148 | ) | ||
Long-term debt | (3,500 | ) | ||
Deferred tax liability | (253 | ) | ||
Other liabilities | (632 | ) | ||
Gain on acquisition | (1,665 | ) | ||
Total purchase price | $ | 5,308 |
Securities_Tables
Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Securities [Abstract] | ' | ||||||||||||||||||||||||
Summary comparison of securities by type | ' | ||||||||||||||||||||||||
A summary comparison of securities by type at December 31, 2013 and 2012 is shown below. | |||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||
(in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S Treasuries | $ | 36,000 | $ | - | $ | - | $ | 36,000 | $ | 20,000 | $ | - | $ | - | $ | 20,000 | |||||||||
U.S. Government Agencies | 302,816 | - | (16,117 | ) | 286,699 | 392,616 | 751 | (278 | ) | 393,089 | |||||||||||||||
Corporate debt securities | 142,580 | 3,729 | (1,828 | ) | 144,481 | 159,488 | 8,024 | (401 | ) | 167,111 | |||||||||||||||
Mutual funds or other equity securities | 564 | - | (8 | ) | 556 | 564 | 23 | - | 587 | ||||||||||||||||
Municipal bonds | 16,091 | 384 | - | 16,475 | 18,481 | 1,032 | - | 19,513 | |||||||||||||||||
Total available-for-sale securities | 498,051 | 4,113 | (17,953 | ) | 484,211 | 591,149 | 9,830 | (679 | ) | 600,300 | |||||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government Agencies | 86,927 | - | (5,971 | ) | 80,956 | 58,943 | 175 | (179 | ) | 58,939 | |||||||||||||||
Mortgage-backed securities | 63,366 | - | (2,680 | ) | 60,686 | - | - | - | - | ||||||||||||||||
Total held to maturity securities | $ | 150,293 | $ | - | $ | (8,651 | ) | $ | 141,642 | $ | 58,943 | $ | 175 | $ | (179 | ) | $ | 58,939 | |||||||
Investments classified by contractual maturity date | ' | ||||||||||||||||||||||||
The scheduled maturities of securities at December 31, 2013, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to call or prepayments. Mortgage-backed securities are not due at a single maturity because of amortization and potential prepayment of the underlying mortgages. For this reason they are presented separately in the maturity table below. | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 45,610 | $ | 45,738 | |||||||||||||||||||||
Due after one year through five years | 190,239 | 189,238 | |||||||||||||||||||||||
Due after five years through 10 years | 221,356 | 211,724 | |||||||||||||||||||||||
Over 10 years | 40,846 | 37,511 | |||||||||||||||||||||||
Total available-for-sale securities | 498,051 | 484,211 | |||||||||||||||||||||||
Held to maturity: | |||||||||||||||||||||||||
Due in one year or less | - | - | |||||||||||||||||||||||
Due after one year through five years | - | - | |||||||||||||||||||||||
Due after five years through 10 years | 86,927 | 80,956 | |||||||||||||||||||||||
Over 10 years | - | - | |||||||||||||||||||||||
Subtotal | 86,927 | 80,956 | |||||||||||||||||||||||
Mortgage-backed Securities | 63,366 | 60,686 | |||||||||||||||||||||||
Total held to maturity securities | $ | 150,293 | $ | 141,642 | |||||||||||||||||||||
Schedule of unrealized loss on investments | ' | ||||||||||||||||||||||||
The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses: | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | ||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasuries | 3 | $ | 26,000 | $ | - | - | $ | - | $ | - | 3 | $ | 26,000 | $ | - | ||||||||||
U.S. Government agencies | 65 | 218,047 | (11,110 | ) | 21 | 68,652 | (5,007 | ) | 86 | 286,699 | (16,117 | ) | |||||||||||||
Corporate debt securities | 154 | 39,555 | (1,378 | ) | 22 | 5,173 | (450 | ) | 176 | 44,728 | (1,828 | ) | |||||||||||||
Mutual funds or other equity securities | 1 | 492 | (8 | ) | - | - | - | 1 | 492 | (8 | ) | ||||||||||||||
Total available-for-sale securities | 223 | 284,094 | (12,496 | ) | 43 | 73,825 | (5,457 | ) | 266 | 357,919 | (17,953 | ) | |||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government agencies | 14 | 50,520 | (3,743 | ) | 7 | 30,436 | (2,228 | ) | 21 | 80,956 | (5,971 | ) | |||||||||||||
Mortgage-backed securities | 26 | 60,686 | (2,680 | ) | - | - | - | 26 | 60,686 | (2,680 | ) | ||||||||||||||
Total held to maturity securities | 40 | $ | 111,206 | $ | (6,423 | ) | 7 | $ | 30,436 | $ | (2,228 | ) | 47 | $ | 141,642 | $ | (8,651 | ) | |||||||
The following is a summary of the fair value of securities with gross unrealized losses and an aging of those gross unrealized losses: | |||||||||||||||||||||||||
. | |||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
(in thousands) | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | Number of Securities | Fair Value | Gross Unrealized Losses | ||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
U.S. Treasuries | 1 | $ | 20,000 | $ | - | - | $ | - | $ | - | 1 | $ | 20,000 | $ | - | ||||||||||
U.S. Government agencies | 34 | 119,952 | (278 | ) | - | - | - | 34 | 119,952 | (278 | ) | ||||||||||||||
Corporate debt securities | 59 | 13,222 | (183 | ) | 7 | 2,211 | (218 | ) | 66 | 15,433 | (401 | ) | |||||||||||||
Total available-for-sale securities | 94 | 153,174 | (461 | ) | 7 | 2,211 | (218 | ) | 101 | 155,385 | (679 | ) | |||||||||||||
Held to maturity: | |||||||||||||||||||||||||
U.S. Government agencies | 6 | 24,118 | (179 | ) | - | - | - | 6 | 24,118 | (179 | ) | ||||||||||||||
Total held to maturity securities | 6 | $ | 24,118 | $ | (179 | ) | - | $ | - | $ | - | 6 | $ | 24,118 | $ | (179 | ) | ||||||||
Schedule of exposure to investment securities issuers that exceeded 10 percent of stockholder's equity | ' | ||||||||||||||||||||||||
At December 31, 2013, the Company's exposure to investment securities issuers that exceeded 10% of stockholders’ equity as follows: | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | |||||||||||||||||||||||
U.S. Treasuries | $ | 36,000 | $ | 36,000 | |||||||||||||||||||||
Federal Home Loan Bank (FHLB) | 142,043 | 133,042 | |||||||||||||||||||||||
Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) | 50,859 | 47,769 | |||||||||||||||||||||||
Federal National Mortgage Association (Fannie Mae-FNMA) | 138,563 | 132,031 | |||||||||||||||||||||||
Federal Farm Credit Bank (FFCB) | 121,643 | 115,498 | |||||||||||||||||||||||
Total | $ | 489,108 | $ | 464,340 |
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Loans [Abstract] | ' | ||||||||||||||||||||||||||||||
Summary of components of loan portfolio | ' | ||||||||||||||||||||||||||||||
The following table summarizes the components of the Company's loan portfolio as of the dates indicated: | |||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(in thousands except for %) | Balance | As % of Category | Balance | As % of Category | |||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 47,550 | 6.7 | % | $ | 44,856 | 7.1 | % | |||||||||||||||||||||||
Farmland | 9,826 | 1.4 | % | 11,182 | 1.8 | % | |||||||||||||||||||||||||
1- 4 Family | 103,764 | 14.7 | % | 87,473 | 13.8 | % | |||||||||||||||||||||||||
Multifamily | 13,771 | 2 | % | 14,855 | 2.4 | % | |||||||||||||||||||||||||
Non-farm non-residential | 336,071 | 47.7 | % | 312,716 | 49.6 | % | |||||||||||||||||||||||||
Total Real Estate | 510,982 | 72.5 | % | 471,082 | 74.7 | % | |||||||||||||||||||||||||
Non-real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 21,749 | 3.1 | % | 18,476 | 2.9 | % | |||||||||||||||||||||||||
Commercial and industrial | 151,087 | 21.4 | % | 117,425 | 18.6 | % | |||||||||||||||||||||||||
Consumer and other | 20,917 | 3 | % | 23,758 | 3.8 | % | |||||||||||||||||||||||||
Total Non-real Estate | 193,753 | 27.5 | % | 159,659 | 25.3 | % | |||||||||||||||||||||||||
Total loans before unearned income | 704,735 | 100 | % | 630,741 | 100 | % | |||||||||||||||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 | |||||||||||||||||||||||||||
Summary of fixed and floating rate loans by contractual maturity, excluding nonaccrual loans | ' | ||||||||||||||||||||||||||||||
The following table summarizes fixed and floating rate loans by contractual maturity, excluding nonaccrual loans, as of December 31, 2013 and December 31, 2012 unadjusted for scheduled principal payments, prepayments, or repricing opportunities. The average life of the loan portfolio may be substantially less than the contractual terms when these adjustments are considered. | |||||||||||||||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||
(in thousands) | Fixed | Floating | Total | Fixed | Floating | Total | |||||||||||||||||||||||||
One year or less | $ | 60,642 | $ | 70,602 | $ | 131,244 | $ | 89,117 | $ | 107,176 | $ | 196,293 | |||||||||||||||||||
One to five years | 220,490 | 209,587 | 430,077 | 147,896 | 175,743 | 323,639 | |||||||||||||||||||||||||
Five to 15 years | 71,655 | 26,076 | 97,731 | 33,770 | 42,595 | 76,365 | |||||||||||||||||||||||||
Over 15 years | 8,503 | 22,695 | 31,198 | 7,829 | 5,927 | 13,756 | |||||||||||||||||||||||||
Subtotal | $ | 361,290 | $ | 328,960 | 690,250 | $ | 278,612 | $ | 331,441 | 610,053 | |||||||||||||||||||||
Nonaccrual loans | 14,485 | 20,688 | |||||||||||||||||||||||||||||
Total loans before unearned income | 704,735 | 630,741 | |||||||||||||||||||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 | |||||||||||||||||||||||||||
Past due financing receivables | ' | ||||||||||||||||||||||||||||||
The following tables present the age analysis of past due loans for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | 30-89 Days Past Due | 90 Days or Greater Past Due | Total Past Due | Current | Total Loans | Recorded Investment 90 Days Accruing | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 100 | $ | 73 | $ | 173 | $ | 47,377 | $ | 47,550 | $ | - | |||||||||||||||||||
Farmland | - | 130 | 130 | 9,696 | 9,826 | - | |||||||||||||||||||||||||
1 - 4 family | 3,534 | 4,662 | 8,196 | 95,568 | 103,764 | 414 | |||||||||||||||||||||||||
Multifamily | - | - | - | 13,771 | 13,771 | - | |||||||||||||||||||||||||
Non-farm non-residential | 154 | 7,539 | 7,693 | 328,378 | 336,071 | - | |||||||||||||||||||||||||
Total Real Estate | 3,788 | 12,404 | 16,192 | 494,790 | 510,982 | 414 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 526 | 526 | 21,223 | 21,749 | - | |||||||||||||||||||||||||
Commercial and industrial | 63 | 1,946 | 2,009 | 149,078 | 151,087 | - | |||||||||||||||||||||||||
Consumer and other | 123 | 23 | 146 | 20,771 | 20,917 | - | |||||||||||||||||||||||||
Total Non-Real Estate | 186 | 2,495 | 2,681 | 191,072 | 193,753 | - | |||||||||||||||||||||||||
Total loans before unearned income | $ | 3,974 | $ | 14,899 | $ | 18,873 | $ | 685,862 | 704,735 | $ | 414 | ||||||||||||||||||||
Unearned income | (1,569 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | 30-89 Days Past Due | 90 Days or Greater Past Due | Total Past Due | Current | Total Loans | Recorded Investment 90 Days Accruing | |||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 228 | $ | 854 | $ | 1,082 | $ | 43,774 | $ | 44,856 | $ | - | |||||||||||||||||||
Farmland | 96 | 312 | 408 | 10,774 | 11,182 | - | |||||||||||||||||||||||||
1 - 4 family | 4,895 | 5,058 | 9,953 | 77,520 | 87,473 | 455 | |||||||||||||||||||||||||
Multifamily | 156 | - | 156 | 14,699 | 14,855 | - | |||||||||||||||||||||||||
Non-farm non-residential | 1,137 | 11,571 | 12,708 | 300,008 | 312,716 | - | |||||||||||||||||||||||||
Total Real Estate | 6,512 | 17,795 | 24,307 | 446,775 | 471,082 | 455 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 512 | 512 | 17,964 | 18,476 | - | |||||||||||||||||||||||||
Commercial and industrial | 60 | 2,831 | 2,891 | 114,534 | 117,425 | - | |||||||||||||||||||||||||
Consumer and other | 115 | 5 | 120 | 23,638 | 23,758 | - | |||||||||||||||||||||||||
Total Non-Real Estate | 175 | 3,348 | 3,523 | 156,136 | 159,659 | - | |||||||||||||||||||||||||
Total loans before unearned income | $ | 6,687 | $ | 21,143 | $ | 27,830 | $ | 602,911 | 630,741 | $ | 455 | ||||||||||||||||||||
Unearned income | (1,241 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 629,500 | |||||||||||||||||||||||||||||
Schedule of financing receivables, non accrual status | ' | ||||||||||||||||||||||||||||||
The following is a summary of nonaccrual loans by class for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 73 | $ | 854 | |||||||||||||||||||||||||||
Farmland | 130 | 312 | |||||||||||||||||||||||||||||
1 - 4 family | 4,248 | 4,603 | |||||||||||||||||||||||||||||
Multifamily | - | - | |||||||||||||||||||||||||||||
Non-farm non-residential | 7,539 | 11,571 | |||||||||||||||||||||||||||||
Total Real Estate | 11,990 | 17,340 | |||||||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 526 | 512 | |||||||||||||||||||||||||||||
Commercial and industrial | 1,946 | 2,831 | |||||||||||||||||||||||||||||
Consumer and other | 23 | 5 | |||||||||||||||||||||||||||||
Total Non-Real Estate | 2,495 | 3,348 | |||||||||||||||||||||||||||||
Total Nonaccrual Loans | $ | 14,485 | $ | 20,688 | |||||||||||||||||||||||||||
Financing receivable credit quality indicators | ' | ||||||||||||||||||||||||||||||
The following table identifies the credit exposure of the loan portfolio by specific credit ratings for the periods indicated: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||
(in thousands) | Pass | Special Mention | Substandard | Doubtful | Total | Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 40,286 | $ | 1,330 | $ | 5,934 | $ | - | $ | 47,550 | $ | 29,654 | $ | 5,595 | $ | 9,607 | $ | - | $ | 44,856 | |||||||||||
Farmland | 9,631 | 85 | 110 | - | 9,826 | 11,059 | - | 123 | - | 11,182 | |||||||||||||||||||||
1 - 4 family | 89,623 | 4,060 | 10,081 | - | 103,764 | 71,240 | 7,117 | 9,116 | - | 87,473 | |||||||||||||||||||||
Multifamily | 5,884 | 5,936 | 1,951 | - | 13,771 | 6,746 | 806 | 7,303 | - | 14,855 | |||||||||||||||||||||
Non-farm non-residential | 305,992 | 9,196 | 20,883 | - | 336,071 | 274,970 | 10,605 | 27,141 | - | 312,716 | |||||||||||||||||||||
Total Real Estate | 451,416 | 20,607 | 38,959 | - | 510,982 | 393,669 | 24,123 | 53,290 | - | 471,082 | |||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 21,486 | 11 | 252 | - | 21,749 | 17,969 | 75 | 432 | - | 18,476 | |||||||||||||||||||||
Commercial and industrial | 149,930 | 592 | 565 | - | 151,087 | 108,590 | 3,834 | 5,001 | - | 117,425 | |||||||||||||||||||||
Consumer and other | 20,720 | 117 | 80 | - | 20,917 | 23,560 | 140 | 58 | - | 23,758 | |||||||||||||||||||||
Total Non-Real Estate | 192,136 | 720 | 897 | - | 193,753 | 150,119 | 4,049 | 5,491 | - | 159,659 | |||||||||||||||||||||
Total loans before unearned income | $ | 643,552 | $ | 21,327 | $ | 39,856 | $ | - | 704,735 | $ | 543,788 | $ | 28,172 | $ | 58,781 | $ | - | 630,741 | |||||||||||||
Unearned income | (1,569 | ) | (1,241 | ) | |||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | $ | 629,500 |
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Allowance for Loan Losses [Abstract] | ' | ||||||||||||||||||||||||||||||
Allowance for credit losses on financing receivables | ' | ||||||||||||||||||||||||||||||
A summary of changes in the allowance for loan losses, by loan type, for the year ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||||||||||
As of December, | |||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in thousands) | Beginning | Charge-offs | Recoveries | Provision | Ending | Beginning | Charge-offs | Recoveries | Provision | Ending Allowance(12/31/12) | |||||||||||||||||||||
Allowance (12/31/12) | Allowance (12/31/13) | Allowance (12/31/11) | |||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 1,098 | $ | (233 | ) | $ | 10 | $ | 655 | $ | 1,530 | $ | 1,002 | $ | (65 | ) | $ | 15 | $ | 146 | $ | 1,098 | |||||||||
Farmland | 50 | (31 | ) | 140 | (142 | ) | 17 | 65 | - | 1 | (16 | ) | 50 | ||||||||||||||||||
1 - 4 family | 2,239 | (220 | ) | 49 | (94 | ) | 1,974 | 1,917 | (1,409 | ) | 35 | 1,696 | 2,239 | ||||||||||||||||||
Multifamily | 284 | - | - | 92 | 376 | 780 | (187 | ) | - | (309 | ) | 284 | |||||||||||||||||||
Non-farm non-residential | 3,666 | (1,148 | ) | 8 | 1,081 | 3,607 | 2,980 | (459 | ) | 116 | 1,029 | 3,666 | |||||||||||||||||||
Total Real Estate | 7,337 | (1,632 | ) | 207 | 1,592 | 7,504 | 6,744 | (2,120 | ) | 167 | 2,546 | 7,337 | |||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 64 | (41 | ) | 5 | 18 | 46 | 125 | (49 | ) | 1 | (13 | ) | 64 | ||||||||||||||||||
Commercial and industrial | 2,488 | (1,098 | ) | 71 | 715 | 2,176 | 1,407 | (809 | ) | 329 | 1,561 | 2,488 | |||||||||||||||||||
Consumer and other | 233 | (262 | ) | 243 | (6 | ) | 208 | 314 | (473 | ) | 283 | 109 | 233 | ||||||||||||||||||
Unallocated | 220 | - | - | 201 | 421 | 289 | - | - | (69 | ) | 220 | ||||||||||||||||||||
Total Non-Real Estate | 3,005 | (1,401 | ) | 319 | 928 | 2,851 | 2,135 | (1,331 | ) | 613 | 1,588 | 3,005 | |||||||||||||||||||
Total | $ | 10,342 | $ | (3,033 | ) | $ | 526 | $ | 2,520 | $ | 10,355 | $ | 8,879 | $ | (3,451 | ) | $ | 780 | $ | 4,134 | $ | 10,342 | |||||||||
As of December, | |||||||||||||||||||||||||||||||
2011 | |||||||||||||||||||||||||||||||
(in thousands) | Beginning | Charge-offs | Recoveries | Provision | Ending Allowance(12/31/11) | ||||||||||||||||||||||||||
Allowance (12/31/10) | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 977 | $ | (1,093 | ) | $ | 1 | $ | 1,117 | $ | 1,002 | ||||||||||||||||||||
Farmland | 46 | (144 | ) | - | 163 | 65 | |||||||||||||||||||||||||
1 - 4 family | 1,891 | (1,613 | ) | 118 | 1,521 | 1,917 | |||||||||||||||||||||||||
Multifamily | 487 | - | - | 293 | 780 | ||||||||||||||||||||||||||
Non-farm non-residential | 3,423 | (5,193 | ) | 13 | 4,737 | 2,980 | |||||||||||||||||||||||||
Total Real Estate | 6,824 | (8,043 | ) | 132 | 7,831 | 6,744 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | 80 | (23 | ) | 2 | 66 | 125 | |||||||||||||||||||||||||
Commercial and industrial | 510 | (1,638 | ) | 371 | 2,164 | 1,407 | |||||||||||||||||||||||||
Consumer and other | 390 | (653 | ) | 227 | 350 | 314 | |||||||||||||||||||||||||
Unallocated | 513 | - | - | (224 | ) | 289 | |||||||||||||||||||||||||
Total Non-Real Estate | 1,493 | (2,314 | ) | 600 | 2,356 | 2,135 | |||||||||||||||||||||||||
Total | $ | 8,317 | $ | (10,357 | ) | $ | 732 | $ | 10,187 | $ | 8,879 | ||||||||||||||||||||
A summary of the allowance and loans individually and collectively evaluated for impairment are as follows: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Allowance Individually Evaluated for Impairment | Allowance Collectively Evaluated for Impairment | Total Allowance for Credit Losses | Loans | Loans | Total Loans before Unearned Income | |||||||||||||||||||||||||
Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 1,166 | $ | 364 | $ | 1,530 | $ | 5,777 | $ | 41,773 | $ | 47,550 | |||||||||||||||||||
Farmland | - | 17 | 17 | - | 9,826 | 9,826 | |||||||||||||||||||||||||
1 - 4 family | 25 | 1,949 | 1,974 | 2,868 | 100,896 | 103,764 | |||||||||||||||||||||||||
Multifamily | 304 | 72 | 376 | 1,951 | 11,820 | 13,771 | |||||||||||||||||||||||||
Non-farm non-residential | 1,053 | 2,554 | 3,607 | 19,279 | 316,792 | 336,071 | |||||||||||||||||||||||||
Total Real Estate | 2,548 | 4,956 | 7,504 | 29,875 | 481,107 | 510,982 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 46 | 46 | - | 21,749 | 21,749 | |||||||||||||||||||||||||
Commercial and industrial | - | 2,176 | 2,176 | - | 151,087 | 151,087 | |||||||||||||||||||||||||
Consumer and other | - | 208 | 208 | - | 20,917 | 20,917 | |||||||||||||||||||||||||
Unallocated | - | 421 | 421 | ||||||||||||||||||||||||||||
Total Non-Real Estate | - | 2,851 | 2,851 | - | 193,753 | 193,753 | |||||||||||||||||||||||||
Total | $ | 2,548 | $ | 7,807 | $ | 10,355 | $ | 29,875 | $ | 674,860 | 704,735 | ||||||||||||||||||||
Unearned Income | (1,569 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 703,166 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | Allowance Individually Evaluated for Impairment | Allowance Collectively Evaluated for Impairment | Total Allowance for Credit Losses | Loans | Loans | Total Loans before Unearned Income | |||||||||||||||||||||||||
Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 713 | $ | 385 | $ | 1,098 | $ | 8,865 | $ | 35,991 | $ | 44,856 | |||||||||||||||||||
Farmland | - | 50 | 50 | - | 11,182 | 11,182 | |||||||||||||||||||||||||
1 - 4 family | 91 | 2,148 | 2,239 | 2,126 | 85,347 | 87,473 | |||||||||||||||||||||||||
Multifamily | 244 | 40 | 284 | 7,302 | 7,553 | 14,855 | |||||||||||||||||||||||||
Non-farm non-residential | 1,535 | 2,131 | 3,666 | 25,904 | 286,812 | 312,716 | |||||||||||||||||||||||||
Total Real Estate | 2,583 | 4,754 | 7,337 | 44,197 | 426,885 | 471,082 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | 64 | 64 | - | 18,476 | 18,476 | |||||||||||||||||||||||||
Commercial and industrial | 507 | 1,981 | 2,488 | 4,390 | 113,035 | 117,425 | |||||||||||||||||||||||||
Consumer and other | - | 233 | 233 | - | 23,758 | 23,758 | |||||||||||||||||||||||||
Unallocated | - | 220 | 220 | ||||||||||||||||||||||||||||
Total Non-Real Estate | 507 | 2,498 | 3,005 | 4,390 | 155,269 | 159,659 | |||||||||||||||||||||||||
Total | $ | 3,090 | $ | 7,252 | $ | 10,342 | $ | 48,587 | $ | 582,154 | 630,741 | ||||||||||||||||||||
Unearned Income | (1,241 | ) | |||||||||||||||||||||||||||||
Total loans net of unearned income | $ | 629,500 | |||||||||||||||||||||||||||||
Impaired financing receivables | ' | ||||||||||||||||||||||||||||||
The following is a summary of impaired loans by class at December 31, 2013: | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Interest Income Cash Basis | |||||||||||||||||||||||||
Impaired Loans with no related allowance: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | - | $ | - | $ | - | $ | 599 | $ | 35 | $ | 36 | |||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 441 | 441 | - | 472 | 28 | 35 | |||||||||||||||||||||||||
Multifamily | 607 | 607 | - | 5,890 | 359 | 382 | |||||||||||||||||||||||||
Non-farm non-residential | 4,722 | 5,456 | - | 7,579 | 425 | 527 | |||||||||||||||||||||||||
Total Real Estate | 5,770 | 6,504 | - | 14,540 | 847 | 980 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | 1,472 | 134 | 162 | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | - | - | - | 1,472 | 134 | 162 | |||||||||||||||||||||||||
Total Impaired Loans with no related allowance | 5,770 | 6,504 | - | 16,012 | 981 | 1,142 | |||||||||||||||||||||||||
Impaired Loans with an allowance recorded: | |||||||||||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||||||||||
Construction & land development | 5,777 | 5,777 | 1,166 | 6,345 | 383 | 360 | |||||||||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 2,427 | 2,620 | 25 | 1,643 | 121 | 107 | |||||||||||||||||||||||||
Multifamily | 1,344 | 1,344 | 304 | 1,348 | 89 | 96 | |||||||||||||||||||||||||
Non-farm non-residential | 14,557 | 17,469 | 1,053 | 14,868 | 775 | 573 | |||||||||||||||||||||||||
Total Real Estate | 24,105 | 27,210 | 2,548 | 24,204 | 1,368 | 1,136 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Impaired Loans with an allowance recorded | 24,105 | 27,210 | 2,548 | 24,204 | 1,368 | 1,136 | |||||||||||||||||||||||||
Total Impaired Loans | $ | 29,875 | $ | 33,714 | $ | 2,548 | $ | 40,216 | $ | 2,349 | $ | 2,278 | |||||||||||||||||||
The following is a summary of impaired loans by class at December 31, 2012: | |||||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in thousands) | Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | Interest Income Cash Basis | |||||||||||||||||||||||||
Impaired Loans with no related allowance: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 3,177 | $ | 3,177 | $ | - | $ | 4,012 | $ | 414 | $ | 404 | |||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 1,516 | 2,176 | - | 2,102 | 162 | 73 | |||||||||||||||||||||||||
Multifamily | 1,351 | 1,351 | - | 1,355 | 103 | 110 | |||||||||||||||||||||||||
Non-farm non-residential | 2,936 | 2,982 | - | 5,963 | 427 | 287 | |||||||||||||||||||||||||
Total Real Estate | 8,980 | 9,686 | - | 13,432 | 1,106 | 874 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | 3,734 | 3,734 | - | 1,098 | 117 | 87 | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | 3,734 | 3,734 | - | 1,098 | 117 | 87 | |||||||||||||||||||||||||
Total Impaired Loans with no related allowance | 12,714 | 13,420 | - | 14,530 | 1,223 | 961 | |||||||||||||||||||||||||
Impaired Loans with an allowance recorded: | |||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | 5,688 | 5,688 | 713 | 3,677 | 406 | 418 | |||||||||||||||||||||||||
Farmland | - | - | - | - | - | - | |||||||||||||||||||||||||
1 - 4 family | 610 | 776 | 91 | 732 | 70 | 67 | |||||||||||||||||||||||||
Multifamily | 5,951 | 5,951 | 244 | 5,998 | 597 | 593 | |||||||||||||||||||||||||
Non-farm non-residential | 22,968 | 25,720 | 1,535 | 24,669 | 2,616 | 2,711 | |||||||||||||||||||||||||
Total Real Estate | 35,217 | 38,135 | 2,583 | 35,076 | 3,689 | 3,789 | |||||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | |||||||||||||||||||||||||
Commercial and industrial | 656 | 656 | 507 | 786 | 94 | - | |||||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | |||||||||||||||||||||||||
Total Non-Real Estate | 656 | 656 | 507 | 786 | 94 | - | |||||||||||||||||||||||||
Total Impaired Loans with an allowance recorded | 35,873 | 38,791 | 3,090 | 35,862 | 3,783 | 3,789 | |||||||||||||||||||||||||
Total Impaired Loans | $ | 48,587 | $ | 52,211 | $ | 3,090 | $ | 50,392 | $ | 5,006 | $ | 4,750 | |||||||||||||||||||
Troubled debt restructurings on financing receivables | ' | ||||||||||||||||||||||||||||||
The following table is an age analysis of TDRs as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||
Troubled Debt Restructurings | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||
Accruing Loans | Accruing Loans | ||||||||||||||||||||||||||||||
(in thousands) | Current | 30-89 Days Past Due | Nonaccrual | Total TDRs | Current | 30-89 Days Past Due | Nonaccrual | Total TDRs | |||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | - | $ | - | $ | - | $ | - | $ | 2,602 | $ | - | $ | - | $ | 2,602 | |||||||||||||||
Farmland | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
1 - 4 Family | - | - | - | - | - | - | 1,296 | 1,296 | |||||||||||||||||||||||
Multifamily | - | - | - | - | 5,951 | - | - | 5,951 | |||||||||||||||||||||||
Non-farm non residential | 3,006 | - | 230 | 3,236 | 6,103 | - | 678 | 6,781 | |||||||||||||||||||||||
Total Real Estate | 3,006 | - | 230 | 3,236 | 14,656 | - | 1,974 | 16,630 | |||||||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total | $ | 3,006 | $ | - | $ | 230 | $ | 3,236 | $ | 14,656 | $ | - | $ | 1,974 | $ | 16,630 | |||||||||||||||
The following table discloses TDR activity for the twelve months ended December 31, 2013. | |||||||||||||||||||||||||||||||
Trouble Debt Restructured Loans Activity | |||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||
(in thousands) | Beginning balance | New TDRs | Charge-offs post-modification | Transferred to ORE | Paydowns | Construction to permanent financing | Restructured to market terms | Ending balance | |||||||||||||||||||||||
(December 31, 2012) | {December 31, 2013} | ||||||||||||||||||||||||||||||
Real Estate: | |||||||||||||||||||||||||||||||
Construction & land development | $ | 2,602 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | (2,602 | ) | $ | - | ||||||||||||||
Farmland | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
1 - 4 family | 1,296 | - | - | (1,075 | ) | - | - | (221 | ) | - | |||||||||||||||||||||
Multifamily | 5,951 | - | - | - | (16 | ) | - | (5,935 | ) | - | |||||||||||||||||||||
Non-farm non-residential | 6,781 | - | (355 | ) | - | (95 | ) | - | (3,095 | ) | 3,236 | ||||||||||||||||||||
Total Real Estate | 16,630 | - | (355 | ) | (1,075 | ) | (111 | ) | - | (11,853 | ) | 3,236 | |||||||||||||||||||
Non-Real Estate: | |||||||||||||||||||||||||||||||
Agricultural | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Commercial and industrial | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and other | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Non-Real Estate | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
Total Impaired Loans with no related allowance | $ | 16,630 | $ | - | $ | (355 | ) | $ | (1,075 | ) | $ | (111 | ) | $ | - | $ | (11,853 | ) | $ | 3,236 | |||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Premises and Equipment [Abstract] | ' | ||||||
Premises and equipment | ' | ||||||
The components of premises and equipment at December 31, 2013 and 2012 are as follows: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Land | $ | 6,251 | $ | 5,928 | |||
Bank premises | 18,051 | 17,485 | |||||
Furniture and equipment | 19,753 | 16,889 | |||||
Construction in progress | 195 | 122 | |||||
Acquired value | 44,250 | 40,424 | |||||
Less: accumulated depreciation | 24,638 | 20,860 | |||||
Net book value | $ | 19,612 | $ | 19,564 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | ||||||||||||||||||
Finite-lived intangible assets | ' | ||||||||||||||||||
The following table summarizes intangible assets subject to amortization. | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
(in thousands) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||
Core deposit intangibles | $ | 9,350 | $ | 7,412 | $ | 1,938 | $ | 9,350 | $ | 7,093 | $ | 2,257 | |||||||
Mortgage servicing rights | 267 | 132 | 135 | 267 | 111 | 156 | |||||||||||||
Total | $ | 9,617 | $ | 7,544 | $ | 2,073 | $ | 9,617 | $ | 7,204 | $ | 2,413 | |||||||
Amortization expense of core deposit intangible assets for next five years | ' | ||||||||||||||||||
Amortization expense of the core deposit intangible assets for the next five years is as follows: | |||||||||||||||||||
For the Years Ended | Estimated Amortization Expense (in thousands) | ||||||||||||||||||
31-Dec-14 | $ | 320 | |||||||||||||||||
31-Dec-15 | $ | 320 | |||||||||||||||||
31-Dec-16 | $ | 320 | |||||||||||||||||
31-Dec-17 | $ | 320 | |||||||||||||||||
31-Dec-18 | $ | 320 |
Other_Real_Estate_Tables
Other Real Estate (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Other Real Estate [Abstract] | ' | ||||||
Other real estate | ' | ||||||
Other real estate owned consists of the following: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Real Estate Owned Acquired by Foreclosure: | |||||||
Residential | $ | 1,803 | $ | 1,186 | |||
Construction & land development | 754 | 1,083 | |||||
Non-farm non-residential | 800 | 125 | |||||
Total Other Real Estate Owned and Foreclosed Property | $ | 3,357 | $ | 2,394 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Deposits [Abstract] | ' | |||
Maturities of time deposits | ' | |||
Time deposits maturing in the next five years are as follows: | ||||
(in thousands) | 31-Dec-13 | |||
2014 | $ | 405,031 | ||
2015 | 135,032 | |||
2016 | 51,982 | |||
2017 | 23,009 | |||
2018 and thereafter | 26,959 | |||
Total | $ | 642,013 |
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Borrowings [Abstract] | ' | |||||||||
Schedule of short-term borrowings | ' | |||||||||
Short-term borrowings are summarized as follows: | ||||||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | ||||||||
Securities sold under agreements to repurchase | $ | 3,988 | $ | 12,946 | ||||||
Line of credit | 1,800 | 1,800 | ||||||||
Total short-term borrowings | $ | 5,788 | $ | 14,746 | ||||||
Short-term borrowings | ' | |||||||||
The following schedule provides certain information about the Company’s short-term borrowings for the periods indicated: | ||||||||||
December 31, | ||||||||||
(in thousands except for %) | 2013 | 2012 | 2011 | |||||||
Outstanding at year end | $ | 5,788 | $ | 14,746 | $ | 12,223 | ||||
Maximum month-end outstanding | $ | 57,302 | $ | 31,850 | $ | 22,493 | ||||
Average daily outstanding | $ | 21,387 | $ | 14,560 | $ | 11,030 | ||||
Weighted average rate during the year | 0.98 | % | 0.25 | % | 0.18 | % | ||||
Average rate at year end | 1.51 | % | 0.75 | % | 0.21 | % | ||||
Maturities on long-term debt | ' | |||||||||
As of December 31, 2013 maturities on long-term debt were as follows: | ||||||||||
(in thousands) | Long-term debt | |||||||||
2014 | $ | 500 | ||||||||
2015 | - | |||||||||
2016 | - | |||||||||
2017 | - | |||||||||
2018 and thereafter | - | |||||||||
Total | $ | 500 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive (Loss) Income (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accumulated Other Comprehensive (Loss) Income [Abstract] | ' | |||
Schedule of accumulated other comprehensive income (loss) | ' | |||
The following table details the changes in the single component of accumulated other comprehensive (loss) income for the twelve months ended December 31, 2013: | ||||
(in thousands) | Unrealized (Loss) Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive (Loss) Income: | ||||
Balance December 31, 2012 | $ | 6,048 | ||
Reclassification adjustments to net income: | ||||
Realized gains on securities | (1,571 | ) | ||
Provision for income taxes | 534 | |||
Unrealized losses arising during the period, net of tax | (14,145 | ) | ||
Balance December 31, 2013 | $ | (9,134 | ) | |
The following table details the changes in the single component of accumulated other comprehensive income for the twelve months ended December 31, 2012: | ||||
(in thousands) | Unrealized Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive Income: | ||||
Balance December 31, 2011 | $ | 4,467 | ||
Reclassification adjustments to net income: | ||||
Realized gains on securities | (4,868 | ) | ||
Provision for income taxes | 1,655 | |||
Unrealized gains arising during the period, net of tax | 4,794 | |||
Balance December 31, 2012 | $ | 6,048 | ||
The following table details the changes in the single component of accumulated other comprehensive income for the twelve months ended December 31, 2011: | ||||
(in thousands) | Unrealized (Loss) Gain on Securities Available for Sale | |||
Accumulated Other Comprehensive Income: | ||||
Balance December 31, 2010 | $ | (259 | ) | |
Reclassification adjustments to net income: | ||||
Realized gains on securities | (3,531 | ) | ||
Provision for income taxes | 1,200 | |||
Unrealized gains arising during the period, net of tax | 7,057 | |||
Balance December 31, 2011 | $ | 4,467 |
Capital_Requirements_Tables
Capital Requirements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Capital Requirements [Abstract] | ' | ||||||||||||
Actual and required capital amounts and ratios | ' | ||||||||||||
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that Management believes have changed the Bank’s category. The Company’s and the Bank’s actual capital amounts and ratios as of December 31, 2013 and 2012 are presented in the following table. | |||||||||||||
Actual | Minimum Capital Requirements | Minimum to be Well Capitalized Under Action Provisions | |||||||||||
(in thousands except for %) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||
31-Dec-13 | |||||||||||||
Total Risk-based Capital: | |||||||||||||
Consolidated | $ | 138,958 | 14.71 | % | $ | 75,594 | 8 | % | N/A | N/A | |||
Bank | $ | 139,234 | 14.76 | % | $ | 75,462 | 8 | % | $ | 94,328 | 10 | % | |
Tier 1 Capital: | |||||||||||||
Consolidated | $ | 128,603 | 13.61 | % | $ | 37,797 | 4 | % | N/A | N/A | |||
Bank | $ | 128,879 | 13.66 | % | $ | 37,731 | 4 | % | $ | 56,597 | 6 | % | |
Tier 1 Leverage Capital: | |||||||||||||
Consolidated | $ | 128,603 | 9.14 | % | $ | 56,307 | 4 | % | N/A | N/A | |||
Bank | $ | 128,879 | 9.17 | % | $ | 56,236 | 4 | % | $ | 70,295 | 5 | % | |
31-Dec-12 | |||||||||||||
Total Risk-based Capital: | |||||||||||||
Consolidated | $ | 134,229 | 15.31 | % | $ | 70,133 | 8 | % | N/A | N/A | |||
Bank | $ | 135,590 | 15.47 | % | $ | 70,095 | 8 | % | $ | 87,619 | 10 | % | |
Tier 1 Capital: | |||||||||||||
Consolidated | $ | 123,877 | 14.13 | % | $ | 35,066 | 4 | % | N/A | N/A | |||
Bank | $ | 125,238 | 14.29 | % | $ | 35,048 | 4 | % | $ | 52,571 | 6 | % | |
Tier 1 Leverage Capital: | |||||||||||||
Consolidated | $ | 123,877 | 9.24 | % | $ | 53,649 | 4 | % | N/A | N/A | |||
Bank | $ | 125,238 | 9.34 | % | $ | 53,644 | 4 | % | $ | 67,055 | 5 | % |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Related Party Transactions [Abstract] | ' | ||||||
Schedule of related party transactions | ' | ||||||
In the normal course of business, the Company and its subsidiary, First Guaranty Bank, have loans, deposits and other transactions with its executive officers, directors and certain business organizations and individuals with which such persons are associated. These transactions are completed with terms no less favorable than current market rates. An analysis of the activity of loans made to such borrowers during the year ended December 31, 2013 and 2012 follows: | |||||||
December 31, | |||||||
(in thousands) | 2013 | 2012 | |||||
Balance, beginning of year | $ | 33,148 | $ | 27,352 | |||
Net Increase | 16,803 | 5,796 | |||||
Balance, end of year | $ | 49,951 | $ | 33,148 |
Other_Expenses_Tables
Other Expenses (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Other Expenses [Abstract] | ' | |||||||||
Summary of significant components of other noninterest expense | ' | |||||||||
The following is a summary of the significant components of other noninterest expense: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Other noninterest expense: | ||||||||||
Legal and professional fees | $ | 2,347 | $ | 1,990 | $ | 2,208 | ||||
Data processing | 1,269 | 1,225 | 1,230 | |||||||
Marketing and public relations | 638 | 697 | 654 | |||||||
Taxes - sales, capital and franchise | 584 | 661 | 640 | |||||||
Operating supplies | 487 | 581 | 574 | |||||||
Travel and lodging | 563 | 523 | 492 | |||||||
Telephone | 206 | 220 | 197 | |||||||
Amortization of core deposits | 320 | 350 | 285 | |||||||
Donations | 294 | 195 | 297 | |||||||
Net costs from other real estate and repossessions | 941 | 2,083 | 1,317 | |||||||
Regulatory assessment | 1,784 | 1,471 | 1,663 | |||||||
Other | 3,237 | 3,784 | 3,262 | |||||||
Total other noninterest expense | $ | 12,670 | $ | 13,780 | $ | 12,819 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Taxes [Abstract] | ' | |||||||||
Provision for income taxes | ' | |||||||||
The following is a summary of the provision for income taxes included in the Statements of Income: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Current | $ | 4,748 | $ | 6,366 | $ | 3,673 | ||||
Deferred | (171 | ) | (505 | ) | 50 | |||||
Total | $ | 4,577 | $ | 5,861 | $ | 3,723 | ||||
Effective income tax rate reconciliation | ' | |||||||||
The difference between income taxes computed by applying the statutory federal income tax rate and the provision for income taxes in the financial statements is reconciled as follows: | ||||||||||
December 31, | ||||||||||
(in thousands except for %) | 2013 | 2012 | 2011 | |||||||
Statutory tax rate | 35 | % | 35 | % | 34 | % | ||||
Federal income taxes at statutory rate | $ | 4,803 | $ | 6,272 | $ | 4,001 | ||||
Tax exempt gain on acquisition | - | - | (566 | ) | ||||||
Tax exempt municipal income | (133 | ) | (156 | ) | (36 | ) | ||||
Other | (93 | ) | (255 | ) | 324 | |||||
Total | $ | 4,577 | $ | 5,861 | $ | 3,723 | ||||
Components of deferred tax assets and liabilities | ' | |||||||||
Deferred taxes are recorded based upon differences between the financial statement and tax basis of assets and liabilities, and available tax credit carry forwards. Temporary differences between the financial statement and tax values of assets and liabilities give rise to deferred taxes. The significant components of deferred taxes classified in the Company's Consolidated Balance Sheets at December 31, 2013 and 2012 are as follows: | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | ||||||||
Deferred tax assets: | ||||||||||
Allowance for loan losses | $ | 3,521 | $ | 3,516 | ||||||
Other real estate owned | 485 | 455 | ||||||||
Impairment writedown on securities | - | 168 | ||||||||
Unrealized losses on available for sale securities | 4,706 | - | ||||||||
Other | 425 | 540 | ||||||||
Gross deferred tax assets | 9,137 | 4,679 | ||||||||
Deferred tax liabilities: | ||||||||||
Depreciation and amortization | (2,517 | ) | (2,642 | ) | ||||||
Unrealized gains on available for sale securities | - | (3,114 | ) | |||||||
Other | (328 | ) | (220 | ) | ||||||
Gross deferred tax liabilities | (2,845 | ) | (5,976 | ) | ||||||
Net deferred tax assets (liabilities) | $ | 6,292 | $ | (1,297 | ) |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Commitments and Contingencies [Abstract] | ' | ||||||
Schedule of notional amounts of outstanding financial instruments | ' | ||||||
Set forth below is a summary of the notional amounts of the financial instruments with off-balance sheet risk at December 31, 2013 and December 31, 2012: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Contract Amount | |||||||
Commitments to Extend Credit | $ | 30,516 | $ | 26,775 | |||
Unfunded Commitments under lines of credit | $ | 115,311 | $ | 71,423 | |||
Commercial and Standby letters of credit | $ | 7,695 | $ | 5,470 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Fair Value Measurements [Abstract] | ' | ||||||
Fair value, assets measured on recurring basis | ' | ||||||
The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Available for Sale Securities Fair Value Measurements Using: | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | 36,492 | $ | 20,522 | |||
Level 2: Significant Other Observable Inputs | 441,885 | 573,071 | |||||
Level 3: Significant Unobservable Inputs | 5,834 | 6,707 | |||||
Securities available for sale measured at fair value | $ | 484,211 | $ | 600,300 | |||
Fair Value, assets measured on recurring basis, unobservable input reconciliation | ' | ||||||
The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3): | |||||||
Level 3 Changes | |||||||
(in thousands) | 31-Dec-13 | 31-Dec-12 | |||||
Balance, beginning of year | $ | 6,707 | $ | 7,516 | |||
Total gains or losses (realized/unrealized): | |||||||
Included in earnings | - | - | |||||
Included in other comprehensive income | - | - | |||||
Purchases, sales, issuances and settlements, net | (873 | ) | (873 | ) | |||
Transfers in and/or out of Level 3 | - | 64 | |||||
Balance as of end of year | $ | 5,834 | $ | 6,707 | |||
Fair value measurements, nonrecurring | ' | ||||||
The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 2013, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||
(in thousands) | At December 31, 2013 | At December 31, 2012 | |||||
Fair Value Measurements Using: Impaired Loans | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | - | $ | - | |||
Level 2: Significant Other Observable Inputs | 9,282 | 8,563 | |||||
Level 3: Significant Unobservable Inputs | 14,823 | 27,310 | |||||
Impaired loans measured at fair value | $ | 24,105 | $ | 35,873 | |||
Fair Value Measurements Using: Other Real Estate Owned | |||||||
Level 1: Quoted Prices in Active Markets For Identical Assets | $ | - | $ | - | |||
Level 2: Significant Other Observable Inputs | 3,357 | 2,394 | |||||
Level 3: Significant Unobservable Inputs | - | - | |||||
Other real estate owned measured at fair value | $ | 3,357 | $ | 2,394 |
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Financial Instruments [Abstract] | ' | ||||||||||||
Schedule of estimated fair values and carrying values of financial instruments | ' | ||||||||||||
The estimated fair values and carrying values of the financial instruments at December 31, 2013 and 2012 are presented in the following table: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(in thousands) | Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 61,484 | $ | 61,484 | $ | 86,233 | $ | 86,233 | |||||
Securities, available for sale | $ | 484,211 | $ | 484,211 | $ | 600,300 | $ | 600,300 | |||||
Securities, held to maturity | $ | 150,293 | $ | 141,642 | $ | 58,943 | $ | 58,939 | |||||
Federal Home Loan Bank stock | $ | 1,835 | $ | 1,835 | $ | 1,275 | $ | 1,275 | |||||
Loans, net | $ | 703,166 | $ | 703,025 | $ | 629,500 | $ | 634,042 | |||||
Accrued interest receivable | $ | 6,258 | $ | 6,258 | $ | 6,711 | $ | 6,711 | |||||
Liabilities | |||||||||||||
Deposits | $ | 1,303,099 | $ | 1,265,898 | $ | 1,252,612 | $ | 1,235,526 | |||||
Borrowings | $ | 6,288 | $ | 6,288 | $ | 15,846 | $ | 15,846 | |||||
Accrued interest payable | $ | 2,364 | $ | 2,364 | $ | 2,840 | $ | 2,840 |
Condensed_Parent_Company_Infor1
Condensed Parent Company Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Condensed Parent Company Information [Abstract] | ' | |||||||||
Condensed balance sheets | ' | |||||||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Balance Sheets | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | ||||||||
Assets | ||||||||||
Cash | $ | 433 | $ | 1,291 | ||||||
Investment in bank subsidiary | 123,681 | 135,538 | ||||||||
Investment securities: | ||||||||||
Available for sale, at fair value | 64 | 64 | ||||||||
Other assets | 1,748 | 407 | ||||||||
Total Assets | $ | 125,926 | $ | 137,300 | ||||||
Liabilities and Stockholders' Equity | ||||||||||
Short-term debt | $ | 1,800 | $ | 1,800 | ||||||
Long-term debt | 500 | 1,100 | ||||||||
Other liabilities | 221 | 219 | ||||||||
Total Liabilities | 2,521 | 3,119 | ||||||||
Stockholders' Equity | 123,405 | 134,181 | ||||||||
Total Liabilities and Stockholders' Equity | $ | 125,926 | $ | 137,300 | ||||||
Condensed statements of income | ' | |||||||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Statements of Income | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Operating Income | ||||||||||
Dividends received from bank subsidiary | $ | 4,669 | $ | 6,400 | $ | 4,600 | ||||
Other income | 90 | 1 | 32 | |||||||
Total operating income | 4,759 | 6,401 | 4,632 | |||||||
Operating Expenses | ||||||||||
Interest expense | 115 | 91 | 166 | |||||||
Salaries & Benefits | 88 | 101 | 85 | |||||||
Other expenses | 449 | 667 | 927 | |||||||
Total operating expenses | 652 | 859 | 1,178 | |||||||
Income before income tax benefit and increase in equity in undistributed earnings of subsidiary | 4,107 | 5,542 | 3,454 | |||||||
Income tax benefit | 212 | 373 | 200 | |||||||
Income before increase in equity in undistributed earnings of subsidiary | 4,319 | 5,915 | 3,654 | |||||||
Increase in equity in undistributed earnings of subsidiary | 4,827 | 6,144 | 4,379 | |||||||
Net Income | $ | 9,146 | $ | 12,059 | $ | 8,033 | ||||
Less preferred stock dividends | (713 | ) | (1,972 | ) | (1,976 | ) | ||||
Net income available to common shareholders | $ | 8,433 | $ | 10,087 | $ | 6,057 | ||||
Condensed statements of cash flow | ' | |||||||||
First Guaranty Bancshares, Inc. | ||||||||||
Condensed Statements of Cash Flow | ||||||||||
December 31, | ||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 9,146 | $ | 12,059 | $ | 8,033 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
(Increase) in equity in undistributed earnings of subsidiary | (4,827 | ) | (6,144 | ) | (4,379 | ) | ||||
Loss on sale of securities | - | 2 | - | |||||||
Net change in other liabilities | 2 | 32 | (349 | ) | ||||||
Net change in other assets | 161 | (122 | ) | (250 | ) | |||||
Net cash provided by operating activities | 4,482 | 5,827 | 3,055 | |||||||
Cash flows from investing activities: | ||||||||||
Proceeds from maturities, calls and sales of AFS securities | - | 248 | - | |||||||
Funds Invested in AFS securities | - | (41 | ) | - | ||||||
Payments for investments in and advances to subsidiary | - | - | (19,331 | ) | ||||||
Cash paid in excess of cash received in acquisition | - | - | (2,203 | ) | ||||||
Net cash provided by (used in) investing activities | - | 207 | (21,534 | ) | ||||||
Cash flows from financing activities: | ||||||||||
Proceeds from short-term debt | - | 1,800 | - | |||||||
Proceeds from long-term debt | - | - | 3,500 | |||||||
Repayment of long-term debt | (600 | ) | (2,100 | ) | (3,800 | ) | ||||
Proceeds from issuance of preferred stock | - | - | 39,435 | |||||||
Repurchase of preferred stock | - | - | (21,128 | ) | ||||||
Repurchase of common stock | - | (54 | ) | - | ||||||
Dividends paid | (4,740 | ) | (6,007 | ) | (5,433 | ) | ||||
Net cash provided by (used in) financing activities | (5,340 | ) | (6,361 | ) | 12,574 | |||||
Net decrease in cash and cash equivalents | (858 | ) | (327 | ) | (5,905 | ) | ||||
Cash and cash equivalents at the beginning of the period | 1,291 | 1,618 | 7,523 | |||||||
Cash and cash equivalents at the end of the period | $ | 433 | $ | 1,291 | $ | 1,618 |
Business_and_Summary_of_Signif2
Business and Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
ATM | |
Office | |
Facility | |
Payment | |
Business and Summary of Significant Accounting Policies [Abstract] | ' |
Number of banking offices | 21 |
Number of drive up banking facility | 1 |
Number of automated teller machines | 27 |
Maximum period of refinement | '1 year |
Loans [Abstract] | ' |
Consecutive payments | 2 |
Minimum balance of impaired loans over which impairment method is applied | $250,000 |
Earnings Per Share [Abstract] | ' |
Company issued pro rata, common stock dividend (in hundredths) | 10.00% |
Minimum [Member] | Building Improvements [Member] | ' |
Premises and Equipment [Abstract] | ' |
Premises and equipment, Useful Life | '10 years |
Minimum [Member] | Equipment, fixtures and automobiles [Member] | ' |
Premises and Equipment [Abstract] | ' |
Premises and equipment, Useful Life | '3 years |
Maximum [Member] | Building Improvements [Member] | ' |
Premises and Equipment [Abstract] | ' |
Premises and equipment, Useful Life | '40 years |
Maximum [Member] | Equipment, fixtures and automobiles [Member] | ' |
Premises and Equipment [Abstract] | ' |
Premises and equipment, Useful Life | '10 years |
Core Deposits [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Core deposit amortization period | '7 years |
Core Deposits [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Core deposit amortization period | '15 years |
Acquisition_Activity_Details
Acquisition Activity (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Jun. 30, 2011 | |
Greensburg Bancshares, Inc [Member] | Greensburg Bancshares, Inc [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Name of entity which merged | ' | ' | 'Greensburg Bancshares, Inc. ("Greensburg") and its wholly owned subsidiary Bank of Greensburg, located in Greensburg, LA. | ' | ' |
Date of merger agreement | ' | ' | ' | 1-Jul-11 | ' |
Purchase of outstanding stock (in hundredths) | ' | ' | ' | ' | 100.00% |
Company's stock issued (in shares) | ' | ' | ' | 179,036 | ' |
Company's stock Market value (in dollars per share) | ' | ' | ' | $16.93 | ' |
Company stock | ' | ' | ' | ' | $3,000,000 |
Cash for Greensburg | ' | ' | ' | ' | 2,300,000 |
Acquired assets and liabilities at fair value [Abstract] | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 7,270,000 | ' |
Investment securities | ' | ' | ' | 11,109,000 | ' |
Loans | ' | ' | ' | 63,001,000 | ' |
Premises and equipment | ' | ' | ' | 2,934,000 | ' |
Core deposit intangible | ' | ' | ' | 1,353,000 | ' |
Other real estate owned | ' | ' | ' | 2,309,000 | ' |
Other assets | ' | ' | ' | 1,410,000 | ' |
Interest-bearing deposits | ' | ' | ' | -61,880,000 | ' |
Noninterest-bearing deposits | ' | ' | ' | -16,148,000 | ' |
Long-term debt | ' | ' | ' | -3,500,000 | ' |
Deferred tax liability | ' | ' | ' | -253,000 | ' |
Other liabilities | ' | ' | ' | -632,000 | ' |
Gain on acquisition | 0 | 0 | -1,665,000 | -1,665,000 | ' |
Total purchase price | ' | ' | ' | $5,308,000 | ' |
Cash_and_Due_from_Banks_Detail
Cash and Due from Banks (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Cash and Due from Banks [Abstract] | ' | ' |
Reserve maintained at federal reserve bank | $32,000,000 | $27,900,000 |
FDIC insurable limit | 250,000 | 250,000 |
Balance maintained exceeded FDIC insurable limit | ' | $600,000 |
Securities_Details
Securities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Security | Security | ||
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | $498,051,000 | $591,149,000 | ' |
Gross Unrealized Gains | 4,113,000 | 9,830,000 | ' |
Gross Unrealized Losses | -17,953,000 | -679,000 | ' |
Fair Value | 484,211,000 | 600,300,000 | ' |
Available-for-sale Securities, Debt Maturities, Cost [Abstract] | ' | ' | ' |
Due in one year or less, Amortized Cost | 45,610,000 | ' | ' |
Due after one year through five years, Amortized Cost | 190,239,000 | ' | ' |
Due after five years through 10 years, Amortized Cost | 221,356,000 | ' | ' |
Over 10 years, Amortized Cost | 40,846,000 | ' | ' |
Amortized cost | 498,051,000 | ' | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Due in one year or less, Fair Value | 45,738,000 | ' | ' |
Due after one year through five years, Fair Value | 189,238,000 | ' | ' |
Due after five years through 10 years, Fair Value | 211,724,000 | ' | ' |
Over 10 years, Fair Value | 37,511,000 | ' | ' |
Fair Value | 484,211,000 | 600,300,000 | ' |
Available-for-sale Securities, Temporarily Impaired Securities | ' | ' | ' |
Less than 12 months, number of securities | 223 | 94 | ' |
12 months or more, number of securities | 43 | 7 | ' |
Number of Securities, Total | 266 | 101 | ' |
Less Than 12 Months, Fair Value | 284,094,000 | 153,174,000 | ' |
12 Months or More, Fair Value | 73,825,000 | 2,211,000 | ' |
Available-for-sale Securities, Fair Value, Total | 357,919,000 | 155,385,000 | ' |
Less Than 12 Months, Gross Unrealized losses | -12,496,000 | -461,000 | ' |
12 Months or More, Gross Unrealized Losses | -5,457,000 | -218,000 | ' |
Gross Unrealized Losses | -17,953,000 | -679,000 | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Exposure to investment securities issuers threshold percentage of Stockholder's Equity (in hundredths) | 10.00% | ' | ' |
Amortized Cost | 634,504,000 | 659,243,000 | ' |
Summary comparison, Held to maturity [Abstract] | ' | ' | ' |
Amortized Cost | 150,293,000 | 58,943,000 | ' |
Held to maturity, Gross Unrealized Gains | 0 | 175,000 | ' |
Held to maturity, Gross Unrealized Losses | -8,651,000 | -179,000 | ' |
Fair Value | 141,642,000 | 58,939,000 | ' |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount [Abstract] | ' | ' | ' |
Due in one year or less, Amortized Cost | 0 | ' | ' |
Due after one year through five years, Amortized Cost | 0 | ' | ' |
Due after five years through 10 years, Amortized Cost | 86,927,000 | ' | ' |
Over 10 years, Amortized Cost | 0 | ' | ' |
Subtotal, Amortized Cost | 86,927,000 | ' | ' |
Mortgage-backed securities, Amortized Cost | 63,366,000 | ' | ' |
Total held to maturity, Amortized Cost | 150,293,000 | ' | ' |
Held-to-maturity Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Due in one year or less, Fair Value | 0 | ' | ' |
Due after on year through five years, Fair Value | 0 | ' | ' |
Due after five years through 10 years, Fair Value | 80,956,000 | ' | ' |
Over 10 years, Fair Value | 0 | ' | ' |
Subtotal, Fair Value | 80,956,000 | ' | ' |
Mortgage-backed securities, Fair Value | 60,686,000 | ' | ' |
Total held to maturity securities, Fair Value | 141,642,000 | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' |
Less than 12 months,, number of securities | 40 | 6 | ' |
12 months or more, number of securities | 7 | 0 | ' |
Number of Securities, Total | 47 | 6 | ' |
Less than twelve months, fair value | 111,206,000 | 24,118,000 | ' |
Twelve months or More, fair value | 30,436,000 | 0 | ' |
Total held to maturity securities , fair value | 141,642,000 | 24,118,000 | ' |
Less than 12 months, gross unrealized losses | -6,423,000 | -179,000 | ' |
12 months or More, gross unrealized losses | -2,228,000 | 0 | ' |
Total held-to-maturity securities, gross unrealized losses | -8,651,000 | -179,000 | ' |
Securities Disclosures [Abstract] | ' | ' | ' |
Carrying value of pledged securities | 503,400,000 | 476,500,000 | ' |
Gross realized gains | 1,400,000 | 4,400,000 | 3,500,000 |
Gross Realized Losses | 0 | 7,000,000 | 0 |
Tax (benefit) provision applicable to these realized net (losses)/gains | 500,000 | 1,700,000 | 1,200,000 |
Proceeds from sales of securities | 18,600,000 | 77,900,000 | 39,600,000 |
Net unrealized gains (losses) available-for-sale securities included in AOCI , net of applicable income taxes | -9,100,000 | 6,000,000 | ' |
Gains reclassified out of AOCI into earnings, net of tax | 1,000,000 | 3,200,000 | ' |
Loss on securities impairment | ' | ' | 100,000 |
Gain on sale of securities | ' | ' | 45,000 |
US Government Agencies [Member] | ' | ' | ' |
Summary comparison, Held to maturity [Abstract] | ' | ' | ' |
Amortized Cost | 86,927,000 | 58,943,000 | ' |
Held to maturity, Gross Unrealized Gains | 0 | 175,000 | ' |
Held to maturity, Gross Unrealized Losses | -5,971,000 | -179,000 | ' |
Fair Value | 80,956,000 | 58,939,000 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' |
Less than 12 months,, number of securities | 14 | 6 | ' |
12 months or more, number of securities | 7 | 0 | ' |
Number of Securities, Total | 21 | 6 | ' |
Less than twelve months, fair value | 50,520,000 | 24,118,000 | ' |
Twelve months or More, fair value | 30,436,000 | 0 | ' |
Total held to maturity securities , fair value | 80,956,000 | 24,118,000 | ' |
Less than 12 months, gross unrealized losses | -3,743,000 | -179,000 | ' |
12 months or More, gross unrealized losses | -2,228,000 | 0 | ' |
Total held-to-maturity securities, gross unrealized losses | -5,971,000 | -179,000 | ' |
Mortgage-backed Securities [Member] | ' | ' | ' |
Summary comparison, Held to maturity [Abstract] | ' | ' | ' |
Amortized Cost | 63,366,000 | 0 | ' |
Held to maturity, Gross Unrealized Gains | 0 | 0 | ' |
Held to maturity, Gross Unrealized Losses | -2,680,000 | 0 | ' |
Fair Value | 60,686,000 | 0 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' |
Less than 12 months,, number of securities | 26 | ' | ' |
12 months or more, number of securities | 0 | ' | ' |
Number of Securities, Total | 26 | ' | ' |
Less than twelve months, fair value | 60,686,000 | ' | ' |
Twelve months or More, fair value | 0 | ' | ' |
Total held to maturity securities , fair value | 60,686,000 | ' | ' |
Less than 12 months, gross unrealized losses | -2,680,000 | ' | ' |
12 months or More, gross unrealized losses | 0 | ' | ' |
Total held-to-maturity securities, gross unrealized losses | -2,680,000 | ' | ' |
US Treasuries [Member] | ' | ' | ' |
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | 36,000,000 | 20,000,000 | ' |
Gross Unrealized Gains | 0 | 0 | ' |
Gross Unrealized Losses | 0 | 0 | ' |
Fair Value | 36,000,000 | 20,000,000 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Fair Value | 36,000,000 | 20,000,000 | ' |
Available-for-sale Securities, Temporarily Impaired Securities | ' | ' | ' |
Less than 12 months, number of securities | 3 | 1 | ' |
12 months or more, number of securities | 0 | 0 | ' |
Number of Securities, Total | 3 | 1 | ' |
Less Than 12 Months, Fair Value | 26,000,000 | 20,000,000 | ' |
12 Months or More, Fair Value | 0 | 0 | ' |
Available-for-sale Securities, Fair Value, Total | 26,000,000 | 20,000,000 | ' |
Less Than 12 Months, Gross Unrealized losses | 0 | 0 | ' |
12 Months or More, Gross Unrealized Losses | 0 | 0 | ' |
Gross Unrealized Losses | 0 | 0 | ' |
US Government Agencies [Member] | ' | ' | ' |
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | 302,816,000 | 392,616,000 | ' |
Gross Unrealized Gains | 0 | 751,000 | ' |
Gross Unrealized Losses | -16,117,000 | -278,000 | ' |
Fair Value | 286,699,000 | 393,089,000 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Fair Value | 286,699,000 | 393,089,000 | ' |
Available-for-sale Securities, Temporarily Impaired Securities | ' | ' | ' |
Less than 12 months, number of securities | 65 | 34 | ' |
12 months or more, number of securities | 21 | 0 | ' |
Number of Securities, Total | 86 | 34 | ' |
Less Than 12 Months, Fair Value | 218,047,000 | 119,952,000 | ' |
12 Months or More, Fair Value | 68,652,000 | 0 | ' |
Available-for-sale Securities, Fair Value, Total | 286,699,000 | 119,952,000 | ' |
Less Than 12 Months, Gross Unrealized losses | -11,110,000 | -278,000 | ' |
12 Months or More, Gross Unrealized Losses | -5,007,000 | 0 | ' |
Gross Unrealized Losses | -16,117,000 | -278,000 | ' |
Corporate Debt Securities [Member] | ' | ' | ' |
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | 142,580,000 | 159,488,000 | ' |
Gross Unrealized Gains | 3,729,000 | 8,024,000 | ' |
Gross Unrealized Losses | -1,828,000 | -401,000 | ' |
Fair Value | 144,481,000 | 167,111,000 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Fair Value | 144,481,000 | 167,111,000 | ' |
Available-for-sale Securities, Temporarily Impaired Securities | ' | ' | ' |
Less than 12 months, number of securities | 154 | 59 | ' |
12 months or more, number of securities | 22 | 7 | ' |
Number of Securities, Total | 176 | 66 | ' |
Less Than 12 Months, Fair Value | 39,555,000 | 13,222,000 | ' |
12 Months or More, Fair Value | 5,173,000 | 2,211,000 | ' |
Available-for-sale Securities, Fair Value, Total | 44,728,000 | 15,433,000 | ' |
Less Than 12 Months, Gross Unrealized losses | -1,378,000 | -183,000 | ' |
12 Months or More, Gross Unrealized Losses | -450,000 | -218,000 | ' |
Gross Unrealized Losses | -1,828,000 | -401,000 | ' |
Mutual Funds or Other Equity Securities [Member] | ' | ' | ' |
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | 564,000 | 2,564,000 | ' |
Gross Unrealized Gains | 0 | 23,000 | ' |
Gross Unrealized Losses | -8,000 | 0 | ' |
Fair Value | 556,000 | 2,587,000 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Fair Value | 556,000 | 2,587,000 | ' |
Available-for-sale Securities, Temporarily Impaired Securities | ' | ' | ' |
Less than 12 months, number of securities | 1 | ' | ' |
12 months or more, number of securities | 0 | ' | ' |
Number of Securities, Total | 1 | ' | ' |
Less Than 12 Months, Fair Value | 492,000 | ' | ' |
12 Months or More, Fair Value | 0 | ' | ' |
Available-for-sale Securities, Fair Value, Total | 492,000 | ' | ' |
Less Than 12 Months, Gross Unrealized losses | -8,000 | ' | ' |
12 Months or More, Gross Unrealized Losses | 0 | ' | ' |
Gross Unrealized Losses | -8,000 | ' | ' |
Municipal Bonds [Member] | ' | ' | ' |
Summary comparison, Available-for-sale securities [Abstract] | ' | ' | ' |
Amortized Cost | 16,091,000 | 18,481,000 | ' |
Gross Unrealized Gains | 384,000 | 1,032,000 | ' |
Gross Unrealized Losses | 0 | 0 | ' |
Fair Value | 16,475,000 | 19,513,000 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Fair Value | 16,475,000 | 19,513,000 | ' |
Exceeds 10 percent of stockholders' equity [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 489,108,000 | ' | ' |
Fair Value | 464,340,000 | ' | ' |
Exceeds 10 percent of stockholders' equity [Member] | US Treasuries [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 36,000,000 | ' | ' |
Fair Value | 36,000,000 | ' | ' |
Exceeds 10 percent of stockholders' equity [Member] | Federal Home Loan Bank (FHLB) [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 142,043,000 | ' | ' |
Fair Value | 133,042,000 | ' | ' |
Exceeds 10 percent of stockholders' equity [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC) [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 50,859,000 | ' | ' |
Fair Value | 47,769,000 | ' | ' |
Exceeds 10 percent of stockholders' equity [Member] | Federal National Mortgage Association (Fannie Mae-FNMA) [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 138,563,000 | ' | ' |
Fair Value | 132,031,000 | ' | ' |
Exceeds 10 percent of stockholders' equity [Member] | Federal Farm Credit Bank (FFCB) [Member] | ' | ' | ' |
Exposure to Investment Securities [Abstract] | ' | ' | ' |
Amortized Cost | 121,643,000 | ' | ' |
Fair Value | $115,498,000 | ' | ' |
Loans_Details
Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | $704,735 | $630,741 |
Percent of category (in hundredths) | 100.00% | 100.00% |
Unearned income | -1,569 | -1,241 |
Total loans net of unearned income | 703,166 | 629,500 |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
One year or less | 131,244 | 196,293 |
One to five years | 430,077 | 323,639 |
Five to 15 years | 97,731 | 76,365 |
Over 15 years | 31,198 | 13,756 |
Subtotal | 690,250 | 610,053 |
Nonaccrual loans | 14,485 | 20,688 |
Total loans before unearned income | 704,735 | 630,741 |
Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 510,982 | 471,082 |
Percent of category (in hundredths) | 72.50% | 74.70% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 11,990 | 17,340 |
Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 47,550 | 44,856 |
Percent of category (in hundredths) | 6.70% | 7.10% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 73 | 854 |
Real Estate [Member] | Farmland [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 9,826 | 11,182 |
Percent of category (in hundredths) | 1.40% | 1.80% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 130 | 312 |
Real Estate [Member] | 1- 4 Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 103,764 | 87,473 |
Percent of category (in hundredths) | 14.70% | 13.80% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 4,248 | 4,603 |
Real Estate [Member] | Multifamily [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 13,771 | 14,855 |
Percent of category (in hundredths) | 2.00% | 2.40% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 336,071 | 312,716 |
Percent of category (in hundredths) | 47.70% | 49.60% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 7,539 | 11,571 |
Non-Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 193,753 | 159,659 |
Percent of category (in hundredths) | 27.50% | 25.30% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 2,495 | 3,348 |
Non-Real Estate [Member] | Agricultural [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 21,749 | 18,476 |
Percent of category (in hundredths) | 3.10% | 2.90% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 526 | 512 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 151,087 | 117,425 |
Percent of category (in hundredths) | 21.40% | 18.60% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 1,946 | 2,831 |
Non-Real Estate [Member] | Consumer and Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans | 20,917 | 23,758 |
Percent of category (in hundredths) | 3.00% | 3.80% |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
Nonaccrual loans | 23 | 5 |
Fixed Rate Loans [Member] | ' | ' |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
One year or less | 60,642 | 89,117 |
One to five years | 220,490 | 147,896 |
Five to 15 years | 71,655 | 33,770 |
Over 15 years | 8,503 | 7,829 |
Subtotal | 361,290 | 278,612 |
Floating Rate Loans [Member] | ' | ' |
Fixed and Floating Rate Loans by Maturity and Repricing Frequencies [Abstract] | ' | ' |
One year or less | 70,602 | 107,176 |
One to five years | 209,587 | 175,743 |
Five to 15 years | 26,076 | 42,595 |
Over 15 years | 22,695 | 5,927 |
Subtotal | $328,960 | $331,441 |
Loans_Receivables_Past_Due_Det
Loans, Receivables Past Due (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | $3,974,000 | $6,687,000 |
90 Days or Greater Past Due | 14,899,000 | 21,143,000 |
Total Past Due | 18,873,000 | 27,830,000 |
Current | 685,862,000 | 602,911,000 |
Total Loans | 704,735,000 | 630,741,000 |
Recorded Investment, 90 Days Accruing | 414,000 | 455,000 |
Unearned income | -1,569,000 | -1,241,000 |
Total loans net of unearned income | 703,166,000 | 629,500,000 |
Floor rate of nonaccrual status loans | 209,500,000 | 231,700,000 |
Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 3,788,000 | 6,512,000 |
90 Days or Greater Past Due | 12,404,000 | 17,795,000 |
Total Past Due | 16,192,000 | 24,307,000 |
Current | 494,790,000 | 446,775,000 |
Total Loans | 510,982,000 | 471,082,000 |
Recorded Investment, 90 Days Accruing | 414,000 | 455,000 |
Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 100,000 | 228,000 |
90 Days or Greater Past Due | 73,000 | 854,000 |
Total Past Due | 173,000 | 1,082,000 |
Current | 47,377,000 | 43,774,000 |
Total Loans | 47,550,000 | 44,856,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 0 | 96,000 |
90 Days or Greater Past Due | 130,000 | 312,000 |
Total Past Due | 130,000 | 408,000 |
Current | 9,696,000 | 10,774,000 |
Total Loans | 9,826,000 | 11,182,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 3,534,000 | 4,895,000 |
90 Days or Greater Past Due | 4,662,000 | 5,058,000 |
Total Past Due | 8,196,000 | 9,953,000 |
Current | 95,568,000 | 77,520,000 |
Total Loans | 103,764,000 | 87,473,000 |
Recorded Investment, 90 Days Accruing | 414,000 | 455,000 |
Real Estate [Member] | Multifamily [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 0 | 156,000 |
90 Days or Greater Past Due | 0 | 0 |
Total Past Due | 0 | 156,000 |
Current | 13,771,000 | 14,699,000 |
Total Loans | 13,771,000 | 14,855,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 154,000 | 1,137,000 |
90 Days or Greater Past Due | 7,539,000 | 11,571,000 |
Total Past Due | 7,693,000 | 12,708,000 |
Current | 328,378,000 | 300,008,000 |
Total Loans | 336,071,000 | 312,716,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Non-Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 186,000 | 175,000 |
90 Days or Greater Past Due | 2,495,000 | 3,348,000 |
Total Past Due | 2,681,000 | 3,523,000 |
Current | 191,072,000 | 156,136,000 |
Total Loans | 193,753,000 | 159,659,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 0 | 0 |
90 Days or Greater Past Due | 526,000 | 512,000 |
Total Past Due | 526,000 | 512,000 |
Current | 21,223,000 | 17,964,000 |
Total Loans | 21,749,000 | 18,476,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 63,000 | 60,000 |
90 Days or Greater Past Due | 1,946,000 | 2,831,000 |
Total Past Due | 2,009,000 | 2,891,000 |
Current | 149,078,000 | 114,534,000 |
Total Loans | 151,087,000 | 117,425,000 |
Recorded Investment, 90 Days Accruing | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Aging [Abstract] | ' | ' |
30 to 89 Days Past Due | 123,000 | 115,000 |
90 Days or Greater Past Due | 23,000 | 5,000 |
Total Past Due | 146,000 | 120,000 |
Current | 20,771,000 | 23,638,000 |
Total Loans | 20,917,000 | 23,758,000 |
Recorded Investment, 90 Days Accruing | $0 | $0 |
Loans_Credit_Exposure_of_Portf
Loans, Credit Exposure of Portfolio (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $704,735 | $630,741 |
Unearned income | -1,569 | -1,241 |
Total loans net of unearned income | 703,166 | 629,500 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 643,552 | 543,788 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,327 | 28,172 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 39,856 | 58,781 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 510,982 | 471,082 |
Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 451,416 | 393,669 |
Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 20,607 | 24,123 |
Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 38,959 | 53,290 |
Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | Construction and Land Development [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 47,550 | 44,856 |
Real Estate [Member] | Construction and Land Development [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 40,286 | 29,654 |
Real Estate [Member] | Construction and Land Development [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,330 | 5,595 |
Real Estate [Member] | Construction and Land Development [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,934 | 9,607 |
Real Estate [Member] | Construction and Land Development [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | Farmland [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,826 | 11,182 |
Real Estate [Member] | Farmland [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,631 | 11,059 |
Real Estate [Member] | Farmland [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 85 | 0 |
Real Estate [Member] | Farmland [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 110 | 123 |
Real Estate [Member] | Farmland [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | 1- 4 Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 103,764 | 87,473 |
Real Estate [Member] | 1- 4 Family [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 89,623 | 71,240 |
Real Estate [Member] | 1- 4 Family [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,060 | 7,117 |
Real Estate [Member] | 1- 4 Family [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 10,081 | 9,116 |
Real Estate [Member] | 1- 4 Family [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | Multifamily [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 13,771 | 14,855 |
Real Estate [Member] | Multifamily [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,884 | 6,746 |
Real Estate [Member] | Multifamily [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,936 | 806 |
Real Estate [Member] | Multifamily [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,951 | 7,303 |
Real Estate [Member] | Multifamily [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 336,071 | 312,716 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 305,992 | 274,970 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,196 | 10,605 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 20,883 | 27,141 |
Real Estate [Member] | Non-Farm Non-Residential [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Non-Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 193,753 | 159,659 |
Non-Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 192,136 | 150,119 |
Non-Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 720 | 4,049 |
Non-Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 897 | 5,491 |
Non-Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Non-Real Estate [Member] | Agricultural [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,749 | 18,476 |
Non-Real Estate [Member] | Agricultural [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 21,486 | 17,969 |
Non-Real Estate [Member] | Agricultural [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 11 | 75 |
Non-Real Estate [Member] | Agricultural [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 252 | 432 |
Non-Real Estate [Member] | Agricultural [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 151,087 | 117,425 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 149,930 | 108,590 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 592 | 3,834 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 565 | 5,001 |
Non-Real Estate [Member] | Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Non-Real Estate [Member] | Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 20,917 | 23,758 |
Non-Real Estate [Member] | Consumer and Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 20,720 | 23,560 |
Non-Real Estate [Member] | Consumer and Other [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 117 | 140 |
Non-Real Estate [Member] | Consumer and Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 80 | 58 |
Non-Real Estate [Member] | Consumer and Other [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $0 | $0 |
Allowance_for_Loan_Losses_Deta
Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | $10,342,000 | $8,879,000 | $8,317,000 |
Charge offs | -3,033,000 | -3,451,000 | -10,357,000 |
Recoveries | 526,000 | 780,000 | 732,000 |
Provision | 2,520,000 | 4,134,000 | 10,187,000 |
Allowance at ending of period | 10,355,000 | 10,342,000 | 8,879,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 2,548,000 | 3,090,000 | ' |
Allowance Collectively Evaluated for Impairment | 7,807,000 | 7,252,000 | ' |
Total Allowance for Credit Losses | 10,355,000 | 10,342,000 | 8,879,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 29,875,000 | 48,587,000 | ' |
Loans Collectively Evaluated for Impairment | 674,860,000 | 582,154,000 | ' |
Total Loans before Unearned Income | 704,735,000 | 630,741,000 | ' |
Unearned income | -1,569,000 | -1,241,000 | ' |
Total loans net of unearned income | 703,166,000 | 629,500,000 | ' |
Financing receivable recorded investment not accruing interest | 14,500,000 | 20,700,000 | 22,500,000 |
Financing receivable, recorded investment, 90 days past due and still accruing | 400,000 | 500,000 | 700,000 |
Financing receivable average recorded investment nonaccrual status | 17,300,000 | 22,100,000 | 24,900,000 |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 5,770,000 | 12,714,000 | ' |
Unpaid principal balance - no related allowance | 6,504,000 | 13,420,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 16,012,000 | 14,530,000 | ' |
Interest income recognized - no related allowance | 981,000 | 1,223,000 | ' |
Interest income cash basis - no related allowance | 1,142,000 | 961,000 | ' |
Recorded investment in loans - with related allowance | 24,105,000 | 35,873,000 | ' |
Unpaid principal balance - with related allowance | 27,210,000 | 38,791,000 | ' |
Related allowance | 2,548,000 | 3,090,000 | ' |
Average recorded investment - with related allowance | 24,204,000 | 35,862,000 | ' |
Interest income, recognized - with related allowance | 1,368,000 | 3,783,000 | ' |
Interest income, cash basis - with related allowance | 1,136,000 | 3,789,000 | ' |
Total Impaired Loans, Recorded Investment | 29,875,000 | 48,587,000 | ' |
Total Impaired Loans, Unpaid Principal Balance | 33,714,000 | 52,211,000 | ' |
Total Impaired Loans, Related Allowance | 2,548,000 | 3,090,000 | ' |
Total Impaired Loans, Average Recorded Investment | 40,216,000 | 50,392,000 | ' |
Total Impaired Loans, Interest Income Recognized | 2,349,000 | 5,006,000 | ' |
Total Impaired Loans, Interest Income Cash Basis | 2,278,000 | 4,750,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 3,006,000 | 14,656,000 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 230,000 | 1,974,000 | ' |
Total TDRs | 3,236,000 | 16,630,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 16,630,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | -355,000 | ' | ' |
Transferred to ORE | -1,075,000 | ' | ' |
Paydowns | -111,000 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -11,853,000 | ' | ' |
Balance of TDRs | 3,236,000 | 16,630,000 | ' |
Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 7,337,000 | 6,744,000 | 6,824,000 |
Charge offs | -1,632,000 | -2,120,000 | -8,043,000 |
Recoveries | 207,000 | 167,000 | 132,000 |
Provision | 1,592,000 | 2,546,000 | 7,831,000 |
Allowance at ending of period | 7,504,000 | 7,337,000 | 6,744,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 2,548,000 | 2,583,000 | ' |
Allowance Collectively Evaluated for Impairment | 4,956,000 | 4,754,000 | ' |
Total Allowance for Credit Losses | 7,504,000 | 7,337,000 | 6,744,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 29,875,000 | 44,197,000 | ' |
Loans Collectively Evaluated for Impairment | 481,107,000 | 426,885,000 | ' |
Total Loans before Unearned Income | 510,982,000 | 471,082,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 5,770,000 | 8,980,000 | ' |
Unpaid principal balance - no related allowance | 6,504,000 | 9,686,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 14,540,000 | 13,432,000 | ' |
Interest income recognized - no related allowance | 847,000 | 1,106,000 | ' |
Interest income cash basis - no related allowance | 980,000 | 874,000 | ' |
Recorded investment in loans - with related allowance | 24,105,000 | 35,217,000 | ' |
Unpaid principal balance - with related allowance | 27,210,000 | 38,135,000 | ' |
Related allowance | 2,548,000 | 2,583,000 | ' |
Average recorded investment - with related allowance | 24,204,000 | 35,076,000 | ' |
Interest income, recognized - with related allowance | 1,368,000 | 3,689,000 | ' |
Interest income, cash basis - with related allowance | 1,136,000 | 3,789,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 3,006,000 | 14,656,000 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 230,000 | 1,974,000 | ' |
Total TDRs | 3,236,000 | 16,630,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 16,630,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | -355,000 | ' | ' |
Transferred to ORE | -1,075,000 | ' | ' |
Paydowns | -111,000 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -11,853,000 | ' | ' |
Balance of TDRs | 3,236,000 | 16,630,000 | ' |
Non-Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 3,005,000 | 2,135,000 | 1,493,000 |
Charge offs | -1,401,000 | -1,331,000 | -2,314,000 |
Recoveries | 319,000 | 613,000 | 600,000 |
Provision | 928,000 | 1,588,000 | 2,356,000 |
Allowance at ending of period | 2,851,000 | 3,005,000 | 2,135,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 507,000 | ' |
Allowance Collectively Evaluated for Impairment | 2,851,000 | 2,498,000 | ' |
Total Allowance for Credit Losses | 2,851,000 | 3,005,000 | 2,135,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 0 | 4,390,000 | ' |
Loans Collectively Evaluated for Impairment | 193,753,000 | 155,269,000 | ' |
Total Loans before Unearned Income | 193,753,000 | 159,659,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 3,734,000 | ' |
Unpaid principal balance - no related allowance | 0 | 3,734,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 1,472,000 | 1,098,000 | ' |
Interest income recognized - no related allowance | 134,000 | 117,000 | ' |
Interest income cash basis - no related allowance | 162,000 | 87,000 | ' |
Recorded investment in loans - with related allowance | 0 | 656,000 | ' |
Unpaid principal balance - with related allowance | 0 | 656,000 | ' |
Related allowance | 0 | 507,000 | ' |
Average recorded investment - with related allowance | 0 | 786,000 | ' |
Interest income, recognized - with related allowance | 0 | 94,000 | ' |
Interest income, cash basis - with related allowance | 0 | 0 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 0 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 0 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | 0 | ' | ' |
Balance of TDRs | 0 | 0 | ' |
Construction and Land Development [Member] | Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 1,098,000 | 1,002,000 | 977,000 |
Charge offs | -233,000 | -65,000 | -1,093,000 |
Recoveries | 10,000 | 15,000 | 1,000 |
Provision | 655,000 | 146,000 | 1,117,000 |
Allowance at ending of period | 1,530,000 | 1,098,000 | 1,002,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 1,166,000 | 713,000 | ' |
Allowance Collectively Evaluated for Impairment | 364,000 | 385,000 | ' |
Total Allowance for Credit Losses | 1,530,000 | 1,098,000 | 1,002,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 5,777,000 | 8,865,000 | ' |
Loans Collectively Evaluated for Impairment | 41,773,000 | 35,991,000 | ' |
Total Loans before Unearned Income | 47,550,000 | 44,856,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 3,177,000 | ' |
Unpaid principal balance - no related allowance | 0 | 3,177,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 599,000 | 4,012,000 | ' |
Interest income recognized - no related allowance | 35,000 | 414,000 | ' |
Interest income cash basis - no related allowance | 36,000 | 404,000 | ' |
Recorded investment in loans - with related allowance | 5,777,000 | 5,688,000 | ' |
Unpaid principal balance - with related allowance | 5,777,000 | 5,688,000 | ' |
Related allowance | 1,166,000 | 713,000 | ' |
Average recorded investment - with related allowance | 6,345,000 | 3,677,000 | ' |
Interest income, recognized - with related allowance | 383,000 | 406,000 | ' |
Interest income, cash basis - with related allowance | 360,000 | 418,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 2,602,000 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 2,602,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 2,602,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -2,602,000 | ' | ' |
Balance of TDRs | 0 | 2,602,000 | ' |
Farmland [Member] | Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 50,000 | 65,000 | 46,000 |
Charge offs | -31,000 | 0 | -144,000 |
Recoveries | 140,000 | 1,000 | 0 |
Provision | -142,000 | -16,000 | 163,000 |
Allowance at ending of period | 17,000 | 50,000 | 65,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 0 | ' |
Allowance Collectively Evaluated for Impairment | 17,000 | 50,000 | ' |
Total Allowance for Credit Losses | 17,000 | 50,000 | 65,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 0 | 0 | ' |
Loans Collectively Evaluated for Impairment | 9,826,000 | 11,182,000 | ' |
Total Loans before Unearned Income | 9,826,000 | 11,182,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 0 | ' |
Unpaid principal balance - no related allowance | 0 | 0 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 0 | 0 | ' |
Interest income recognized - no related allowance | 0 | 0 | ' |
Interest income cash basis - no related allowance | 0 | 0 | ' |
Recorded investment in loans - with related allowance | 0 | 0 | ' |
Unpaid principal balance - with related allowance | 0 | 0 | ' |
Related allowance | 0 | 0 | ' |
Average recorded investment - with related allowance | 0 | 0 | ' |
Interest income, recognized - with related allowance | 0 | 0 | ' |
Interest income, cash basis - with related allowance | 0 | 0 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 0 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 0 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | 0 | ' | ' |
Balance of TDRs | 0 | 0 | ' |
1- 4 Family [Member] | Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 2,239,000 | 1,917,000 | 1,891,000 |
Charge offs | -220,000 | -1,409,000 | -1,613,000 |
Recoveries | 49,000 | 35,000 | 118,000 |
Provision | -94,000 | 1,696,000 | 1,521,000 |
Allowance at ending of period | 1,974,000 | 2,239,000 | 1,917,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 25,000 | 91,000 | ' |
Allowance Collectively Evaluated for Impairment | 1,949,000 | 2,148,000 | ' |
Total Allowance for Credit Losses | 1,974,000 | 2,239,000 | 1,917,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 2,868,000 | 2,126,000 | ' |
Loans Collectively Evaluated for Impairment | 100,896,000 | 85,347,000 | ' |
Total Loans before Unearned Income | 103,764,000 | 87,473,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 441,000 | 1,516,000 | ' |
Unpaid principal balance - no related allowance | 441,000 | 2,176,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 472,000 | 2,102,000 | ' |
Interest income recognized - no related allowance | 28,000 | 162,000 | ' |
Interest income cash basis - no related allowance | 35,000 | 73,000 | ' |
Recorded investment in loans - with related allowance | 2,427,000 | 610,000 | ' |
Unpaid principal balance - with related allowance | 2,620,000 | 776,000 | ' |
Related allowance | 25,000 | 91,000 | ' |
Average recorded investment - with related allowance | 1,643,000 | 732,000 | ' |
Interest income, recognized - with related allowance | 121,000 | 70,000 | ' |
Interest income, cash basis - with related allowance | 107,000 | 67,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 1,296,000 | ' |
Total TDRs | 0 | 1,296,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 1,296,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | -1,075,000 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -221,000 | ' | ' |
Balance of TDRs | 0 | 1,296,000 | ' |
Multifamily [Member] | Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 284,000 | 780,000 | 487,000 |
Charge offs | 0 | -187,000 | 0 |
Recoveries | 0 | 0 | 0 |
Provision | 92,000 | -309,000 | 293,000 |
Allowance at ending of period | 376,000 | 284,000 | 780,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 304,000 | 244,000 | ' |
Allowance Collectively Evaluated for Impairment | 72,000 | 40,000 | ' |
Total Allowance for Credit Losses | 376,000 | 284,000 | 780,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 1,951,000 | 7,302,000 | ' |
Loans Collectively Evaluated for Impairment | 11,820,000 | 7,553,000 | ' |
Total Loans before Unearned Income | 13,771,000 | 14,855,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 607,000 | 1,351,000 | ' |
Unpaid principal balance - no related allowance | 607,000 | 1,351,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 5,890,000 | 1,355,000 | ' |
Interest income recognized - no related allowance | 359,000 | 103,000 | ' |
Interest income cash basis - no related allowance | 382,000 | 110,000 | ' |
Recorded investment in loans - with related allowance | 1,344,000 | 5,951,000 | ' |
Unpaid principal balance - with related allowance | 1,344,000 | 5,951,000 | ' |
Related allowance | 304,000 | 244,000 | ' |
Average recorded investment - with related allowance | 1,348,000 | 5,998,000 | ' |
Interest income, recognized - with related allowance | 89,000 | 597,000 | ' |
Interest income, cash basis - with related allowance | 96,000 | 593,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 5,951,000 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 5,951,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 5,951,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | -16,000 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -5,935,000 | ' | ' |
Balance of TDRs | 0 | 5,951,000 | ' |
Non-Farm Non-Residential [Member] | Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 3,666,000 | 2,980,000 | 3,423,000 |
Charge offs | -1,148,000 | -459,000 | -5,193,000 |
Recoveries | 8,000 | 116,000 | 13,000 |
Provision | 1,081,000 | 1,029,000 | 4,737,000 |
Allowance at ending of period | 3,607,000 | 3,666,000 | 2,980,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 1,053,000 | 1,535,000 | ' |
Allowance Collectively Evaluated for Impairment | 2,554,000 | 2,131,000 | ' |
Total Allowance for Credit Losses | 3,607,000 | 3,666,000 | 2,980,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 19,279,000 | 25,904,000 | ' |
Loans Collectively Evaluated for Impairment | 316,792,000 | 286,812,000 | ' |
Total Loans before Unearned Income | 336,071,000 | 312,716,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 4,722,000 | 2,936,000 | ' |
Unpaid principal balance - no related allowance | 5,456,000 | 2,982,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 7,579,000 | 5,963,000 | ' |
Interest income recognized - no related allowance | 425,000 | 427,000 | ' |
Interest income cash basis - no related allowance | 527,000 | 287,000 | ' |
Recorded investment in loans - with related allowance | 14,557,000 | 22,968,000 | ' |
Unpaid principal balance - with related allowance | 17,469,000 | 25,720,000 | ' |
Related allowance | 1,053,000 | 1,535,000 | ' |
Average recorded investment - with related allowance | 14,868,000 | 24,669,000 | ' |
Interest income, recognized - with related allowance | 775,000 | 2,616,000 | ' |
Interest income, cash basis - with related allowance | 573,000 | 2,711,000 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 3,006,000 | 6,103,000 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 230,000 | 678,000 | ' |
Total TDRs | 3,236,000 | 6,781,000 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 6,781,000 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | -355,000 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | -95,000 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | -3,095,000 | ' | ' |
Balance of TDRs | 3,236,000 | 6,781,000 | ' |
Agricultural [Member] | Non-Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 64,000 | 125,000 | 80,000 |
Charge offs | -41,000 | -49,000 | -23,000 |
Recoveries | 5,000 | 1,000 | 2,000 |
Provision | 18,000 | -13,000 | 66,000 |
Allowance at ending of period | 46,000 | 64,000 | 125,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 0 | ' |
Allowance Collectively Evaluated for Impairment | 46,000 | 64,000 | ' |
Total Allowance for Credit Losses | 46,000 | 64,000 | 125,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 0 | 0 | ' |
Loans Collectively Evaluated for Impairment | 21,749,000 | 18,476,000 | ' |
Total Loans before Unearned Income | 21,749,000 | 18,476,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 0 | ' |
Unpaid principal balance - no related allowance | 0 | 0 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 0 | 0 | ' |
Interest income recognized - no related allowance | 0 | 0 | ' |
Interest income cash basis - no related allowance | 0 | 0 | ' |
Recorded investment in loans - with related allowance | 0 | 0 | ' |
Unpaid principal balance - with related allowance | 0 | 0 | ' |
Related allowance | 0 | 0 | ' |
Average recorded investment - with related allowance | 0 | 0 | ' |
Interest income, recognized - with related allowance | 0 | 0 | ' |
Interest income, cash basis - with related allowance | 0 | 0 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 0 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 0 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | 0 | ' | ' |
Balance of TDRs | 0 | 0 | ' |
Commercial and Industrial [Member] | Non-Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 2,488,000 | 1,407,000 | 510,000 |
Charge offs | -1,098,000 | -809,000 | -1,638,000 |
Recoveries | 71,000 | 329,000 | 371,000 |
Provision | 715,000 | 1,561,000 | 2,164,000 |
Allowance at ending of period | 2,176,000 | 2,488,000 | 1,407,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 507,000 | ' |
Allowance Collectively Evaluated for Impairment | 2,176,000 | 1,981,000 | ' |
Total Allowance for Credit Losses | 2,176,000 | 2,488,000 | 1,407,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 0 | 4,390,000 | ' |
Loans Collectively Evaluated for Impairment | 151,087,000 | 113,035,000 | ' |
Total Loans before Unearned Income | 151,087,000 | 117,425,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 3,734,000 | ' |
Unpaid principal balance - no related allowance | 0 | 3,734,000 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 1,472,000 | 1,098,000 | ' |
Interest income recognized - no related allowance | 134,000 | 117,000 | ' |
Interest income cash basis - no related allowance | 162,000 | 87,000 | ' |
Recorded investment in loans - with related allowance | 0 | 656,000 | ' |
Unpaid principal balance - with related allowance | 0 | 656,000 | ' |
Related allowance | 0 | 507,000 | ' |
Average recorded investment - with related allowance | 0 | 786,000 | ' |
Interest income, recognized - with related allowance | 0 | 94,000 | ' |
Interest income, cash basis - with related allowance | 0 | 0 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 0 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 0 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | 0 | ' | ' |
Balance of TDRs | 0 | 0 | ' |
Consumer and Other [Member] | Non-Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 233,000 | 314,000 | 390,000 |
Charge offs | -262,000 | -473,000 | -653,000 |
Recoveries | 243,000 | 283,000 | 227,000 |
Provision | -6,000 | 109,000 | 350,000 |
Allowance at ending of period | 208,000 | 233,000 | 314,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 0 | ' |
Allowance Collectively Evaluated for Impairment | 208,000 | 233,000 | ' |
Total Allowance for Credit Losses | 208,000 | 233,000 | 314,000 |
Loans Receivable [Abstract] | ' | ' | ' |
Loans Individually Evaluated for Impairment | 0 | 0 | ' |
Loans Collectively Evaluated for Impairment | 20,917,000 | 23,758,000 | ' |
Total Loans before Unearned Income | 20,917,000 | 23,758,000 | ' |
Impaired Loans [Abstract] | ' | ' | ' |
Recorded investment - no related allowance | 0 | 0 | ' |
Unpaid principal balance - no related allowance | 0 | 0 | ' |
No related allowance | 0 | 0 | ' |
Average recorded investment - no related allowance | 0 | 0 | ' |
Interest income recognized - no related allowance | 0 | 0 | ' |
Interest income cash basis - no related allowance | 0 | 0 | ' |
Recorded investment in loans - with related allowance | 0 | 0 | ' |
Unpaid principal balance - with related allowance | 0 | 0 | ' |
Related allowance | 0 | 0 | ' |
Average recorded investment - with related allowance | 0 | 0 | ' |
Interest income, recognized - with related allowance | 0 | 0 | ' |
Interest income, cash basis - with related allowance | 0 | 0 | ' |
Troubled Debt Restructuring [Abstract] | ' | ' | ' |
Accruing Loans, Current | 0 | 0 | ' |
Accruing Loans, 30-89 Days Past Due | 0 | 0 | ' |
Nonaccrual | 0 | 0 | ' |
Total TDRs | 0 | 0 | ' |
TDR activity [Roll Forward] | ' | ' | ' |
Balance of TDRs | 0 | ' | ' |
New TDRs | 0 | ' | ' |
Charge-offs post-modification | 0 | ' | ' |
Transferred to ORE | 0 | ' | ' |
Paydowns | 0 | ' | ' |
Construction to permanent financing | 0 | ' | ' |
Restructured to market terms | 0 | ' | ' |
Balance of TDRs | 0 | 0 | ' |
Unallocated [Member] | Non-Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' |
Allowance at beginning of period | 220,000 | 289,000 | 513,000 |
Charge offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision | 201,000 | -69,000 | -224,000 |
Allowance at ending of period | 421,000 | 220,000 | 289,000 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ' | ' | ' |
Allowance Individually Evaluated for Impairment | 0 | 0 | ' |
Allowance Collectively Evaluated for Impairment | 421,000 | 220,000 | ' |
Total Allowance for Credit Losses | $421,000 | $220,000 | $289,000 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired value | $44,250,000 | $40,424,000 | ' |
Less: accumulated depreciation | 24,638,000 | 20,860,000 | ' |
Net book value | 19,612,000 | 19,564,000 | ' |
Depreciation expense | 1,700,000 | 1,600,000 | 1,400,000 |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired value | 6,251,000 | 5,928,000 | ' |
Bank premises [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired value | 18,051,000 | 17,485,000 | ' |
Furniture and equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired value | 19,753,000 | 16,889,000 | ' |
Construction in progress [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired value | $195,000 | $122,000 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Gross Carrying Amount | $9,617,000 | $9,617,000 | ' |
Accumulated Amortization | 7,544,000 | 7,204,000 | ' |
Net Carrying Amount | 2,073,000 | 2,413,000 | ' |
Goodwill | 1,999,000 | 1,999,000 | ' |
Amortization expense | 300,000 | 400,000 | 300,000 |
Amortization expense of core deposit intangible assets for next five years [Abstract] | ' | ' | ' |
31-Dec-14 | 320,000 | ' | ' |
31-Dec-15 | 320,000 | ' | ' |
31-Dec-16 | 320,000 | ' | ' |
31-Dec-17 | 320,000 | ' | ' |
31-Dec-18 | 320,000 | ' | ' |
Core Deposits Intangibles [Member] | ' | ' | ' |
Finite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Gross Carrying Amount | 9,350,000 | 9,350,000 | ' |
Accumulated Amortization | 7,412,000 | 7,093,000 | ' |
Net Carrying Amount | 1,938,000 | 2,257,000 | ' |
Weighted-average amortization | '6 years 3 months 18 days | ' | ' |
Mortgage Servicing Rights [Member] | ' | ' | ' |
Finite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Gross Carrying Amount | 267,000 | 267,000 | ' |
Accumulated Amortization | 132,000 | 111,000 | ' |
Net Carrying Amount | $135,000 | $156,000 | ' |
Other_Real_Estate_Details
Other Real Estate (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Owned Acquired by Foreclosure [Abstract] | ' | ' |
Residential | $1,803 | $1,186 |
Construction & land development | 754 | 1,083 |
Non-farm non-residential | 800 | 125 |
Total Other Real Estate Owned and Foreclosed Property | $3,357 | $2,394 |
Deposits_Details
Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Maturities of time deposits [Abstract] | ' | ' |
2014 | $405,031,000 | ' |
2015 | 135,032,000 | ' |
2016 | 51,982,000 | ' |
2017 | 23,009,000 | ' |
2018 and thereafter | 26,959,000 | ' |
Total | 642,013,000 | 648,448,000 |
Brokered deposits | 21,200,000 | ' |
Aggregate amount of time deposits in denominations of $100 thousand or more | $433,100,000 | $425,000,000 |
Borrowings_Details
Borrowings (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Short-term borrowings [Abstract] | ' | ' | ' |
Securities sold under agreements to repurchase | $3,988,000 | $12,946,000 | ' |
Line of credit | 1,800,000 | 1,800,000 | ' |
Total short-term borrowings | 5,788,000 | 14,746,000 | 12,223,000 |
Period of interest rate repurchase agreement | '91 days | ' | ' |
Available lines of credit including FHLB | 210,600,000 | 175,600,000 | ' |
Schedule of certain information short-term borrowings [Abstract] | ' | ' | ' |
Outstanding at year end | 5,788,000 | 14,746,000 | 12,223,000 |
Maximum month-end outstanding | 57,302,000 | 31,850,000 | 22,493,000 |
Average daily outstanding | 21,387,000 | 14,560,000 | 11,030,000 |
Weighted average rate during the year (in hundredths) | 0.98% | 0.25% | 0.18% |
Average rate at year end (in hundredths) | 1.51% | 0.75% | 0.21% |
Description of variable rate basis | 'Wall Street Journal Prime plus 75 basis points | ' | ' |
Basis spread on variable rate (in hundredths) | 4.00% | ' | ' |
Periodic principal payment | 50,000 | ' | ' |
Principal payment frequency | 'monthly | ' | ' |
Debt maturity date | 22-Apr-17 | ' | ' |
Percentage of interest used in secured pledge borrowings (in hundredths) | 13.20% | ' | ' |
Number of shares used in secured pledge borrowings (in shares) | 735,745 | ' | ' |
Percentage at which line of credit is priced (in hundredths) | 4.50% | ' | ' |
Letters of credit amount at FHLB | 90,000,000 | 50,000,000 | ' |
Maturities on long-term debt [Abstract] | ' | ' | ' |
2014 | 500,000 | ' | ' |
2015 | 0 | ' | ' |
2016 | 0 | ' | ' |
2017 | 0 | ' | ' |
2018 and thereafter | 0 | ' | ' |
Total | 500,000 | 1,100,000 | ' |
Revolving Credit Facility [Member] | ' | ' | ' |
Short-term borrowings [Abstract] | ' | ' | ' |
Available lines of credit including FHLB | 700,000 | ' | ' |
Schedule of certain information short-term borrowings [Abstract] | ' | ' | ' |
Line of credit facility, maximum | $2,500,000 | ' | ' |
Preferred_Stock_Details
Preferred Stock (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Class of Stock [Line Items] | ' | ' | ' |
Proceeds from issuance of preferred stock | $0 | $0 | $39,435,000 |
Preferred stock dividends paid | 700,000 | 2,000,000 | 2,000,000 |
Period after which dividend rate will increase | '4 years 6 months | ' | ' |
Series A Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Carrying amount of stock redeemed | 21,100,000 | ' | ' |
Series B Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Carrying amount of stock redeemed | $21,100,000 | ' | ' |
Series C Preferred Stock [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred stock dividend rate after 4.5 years (in hundredths) | 9.00% | ' | ' |
Series C Preferred Stock [Member] | Minimum [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred stock dividend rate (in hundredths) | 1.00% | ' | ' |
Series C Preferred Stock [Member] | Maximum [Member] | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' |
Preferred stock dividend rate (in hundredths) | 5.00% | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive (Loss) Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive (Loss) Income [Line Items] | ' | ' | ' |
Balance, beginning of period | $6,048 | ' | ' |
Reclassification adjustment to net income [Abstract] | ' | ' | ' |
Provision for income taxes | 4,577 | 5,861 | 3,723 |
Balance, end of period | -9,134 | 6,048 | ' |
Unrealized (Loss) Gain on Securities Available for Sale [Member] | ' | ' | ' |
Accumulated Other Comprehensive (Loss) Income [Line Items] | ' | ' | ' |
Balance, beginning of period | 6,048 | 4,467 | -259 |
Reclassification adjustment to net income [Abstract] | ' | ' | ' |
Realized gains on securities | -1,571 | -4,868 | -3,531 |
Provision for income taxes | 534 | 1,655 | 1,200 |
Unrealized losses arising during the period, net of tax | -14,145 | 4,794 | 7,057 |
Balance, end of period | ($9,134) | $6,048 | $4,467 |
Capital_Requirements_Details
Capital Requirements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
First Guaranty Bancshares, Inc. [Member] | ' | ' |
Total Risk-based Capital, Amount [Abstract] | ' | ' |
Actual Amount | $138,958 | $134,229 |
Minimum Capital Requirement | 75,594 | 70,133 |
Total Risk-based Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 14.71% | 15.31% |
Minimum Capital Requirement (in hundredths) | 8.00% | 8.00% |
Tier 1 Capital, Amount [Abstract] | ' | ' |
Actual Amount | 128,603 | 123,877 |
Minimum Capital Requirement | 37,797 | 35,066 |
Tier 1 Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 13.61% | 14.13% |
Minimum Capital Requirement (in hundredths) | 4.00% | 4.00% |
Tier 1 Leverage Capital, Amount [Abstract] | ' | ' |
Actual Amount | 128,603 | 123,877 |
Minimum Capital Requirement | 56,307 | 53,649 |
Tier 1 Leverage Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 9.14% | 9.24% |
Minimum Capital Requirement (in hundredths) | 4.00% | 4.00% |
First Guaranty Bank [Member] | ' | ' |
Total Risk-based Capital, Amount [Abstract] | ' | ' |
Actual Amount | 139,234 | 135,590 |
Minimum Capital Requirement | 75,462 | 70,095 |
Minimum to be Well Capitalized Under Action Provisions | 94,328 | 87,619 |
Total Risk-based Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 14.76% | 15.47% |
Minimum Capital Requirement (in hundredths) | 8.00% | 8.00% |
Minimum to be Well Capitalized Under Action Provisions (in hundredths) | 10.00% | 10.00% |
Tier 1 Capital, Amount [Abstract] | ' | ' |
Actual Amount | 128,879 | 125,238 |
Minimum Capital Requirement | 37,731 | 35,048 |
Minimum to be Well Capitalized Under Action Provisions | 56,597 | 52,571 |
Tier 1 Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 13.66% | 14.29% |
Minimum Capital Requirement (in hundredths) | 4.00% | 4.00% |
Minimum to be Well Capitalized Under Action Provisions (in hundredths) | 6.00% | 6.00% |
Tier 1 Leverage Capital, Amount [Abstract] | ' | ' |
Actual Amount | 128,879 | 125,238 |
Minimum Capital Requirement | 56,236 | 53,644 |
Minimum to be Well Capitalized Under Action Provisions | $70,295 | $67,055 |
Tier 1 Leverage Capital, Ratio [Abstract] | ' | ' |
Actual Ratio (in hundredths) | 9.17% | 9.34% |
Minimum Capital Requirement (in hundredths) | 4.00% | 4.00% |
Minimum to be Well Capitalized Under Action Provisions (in hundredths) | 5.00% | 5.00% |
Dividend_Restrictions_Details
Dividend Restrictions (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Dividend Restrictions [Abstract] | ' |
Percentage of outstanding capital stock, maximum (in hundredths) | 50.00% |
Undistributed earnings | $4.80 |
Restricted investments | $118.90 |
Minimum percentage of Tier 1 capital amount (in hundredths) | 90.00% |
SBLF dividend description | 'After two years, the 90% limitation will decrease by 10% for every 1% increase in qualified small business lending. |
Percentage by which minimum percentage of Tier1 capital amount reduced (in hundredths) | 10.00% |
Percentage of increase in qualified small business lending (in hundredths) | 1.00% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Related party activity of loans [Abstract] | ' | ' | ' |
Balance, beginning of year | $33,148,000 | $27,352,000 | ' |
Net Increase (Decrease) | 16,803,000 | 5,796,000 | ' |
Balance, end of year | 49,951,000 | 33,148,000 | 27,352,000 |
Unfunded commitments | 17,900,000 | 17,200,000 | ' |
Contribution to medical benefit plan | 2,400,000 | 1,700,000 | 1,500,000 |
Travel expenses for chairman and other directors | 49,000 | 200,000 | 200,000 |
Directors and Executive Officers [Member] | ' | ' | ' |
Related party activity of loans [Abstract] | ' | ' | ' |
Deposit from related party | 34,100,000 | ' | ' |
Champion Graphic Communications [Member] | ' | ' | ' |
Related party activity of loans [Abstract] | ' | ' | ' |
Expenses from transactions with related party | $500,000 | $600,000 | $600,000 |
Capital stock holdings (in hundredths) | 53.70% | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Benefit Plans [Abstract] | ' | ' | ' |
Deferment percentage of base salary, minimum (in hundredths) | 1.00% | ' | ' |
Deferment percentage of base salary, maximum (in hundredths) | 20.00% | ' | ' |
Employer matching contribution (in hundredths) | 6.00% | ' | ' |
Maximum employer matching contribution percentage (in hundredths) | 100.00% | ' | ' |
Contributions to savings plan | $86,000 | $67,000 | $66,000 |
Contributions were made to the ESOP | $0 | $0 | $0 |
Shares held under ESOP (in shares) | 16,927 | ' | ' |
Other_Expenses_Details
Other Expenses (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Other noninterest expense [Abstract] | ' | ' | ' |
Legal and professional fees | $2,347,000 | $1,990,000 | $2,208,000 |
Data processing | 1,269,000 | 1,225,000 | 1,230,000 |
Marketing and public relations | 638,000 | 697,000 | 654,000 |
Taxes - sales, capital and franchise | 584,000 | 661,000 | 640,000 |
Operating supplies | 487,000 | 581,000 | 574,000 |
Travel and lodging | 563,000 | 523,000 | 492,000 |
Telephone | 206,000 | 220,000 | 197,000 |
Amortization of core deposits | 320,000 | 350,000 | 285,000 |
Donations | 294,000 | 195,000 | 297,000 |
Net costs from other real estate and repossessions | 941,000 | 2,083,000 | 1,317,000 |
Regulatory assessment | 1,784,000 | 1,471,000 | 1,663,000 |
Other | 3,237,000 | 3,784,000 | 3,262,000 |
Total other noninterest expense | 12,670,000 | 13,780,000 | 12,819,000 |
Advertising expense | $400,000 | $400,000 | $300,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Provision for income taxes [Abstract] | ' | ' | ' |
Current | $4,748,000 | $6,366,000 | $3,673,000 |
Deferred | -171,000 | -505,000 | 50,000 |
Total | 4,577,000 | 5,861,000 | 3,723,000 |
Statutory federal income tax rate and the provision for income taxes [Abstract] | ' | ' | ' |
Statutory tax rate (in hundredths) | 35.00% | 35.00% | 34.00% |
Federal income taxes at statutory rate | 4,803,000 | 6,272,000 | 4,001,000 |
Tax exempt gain on acquisition | 0 | 0 | -566,000 |
Tax exempt municipal income | -133,000 | -156,000 | -36,000 |
Other | -93,000 | -255,000 | 324,000 |
Total | 4,577,000 | 5,861,000 | 3,723,000 |
Deferred tax assets [Abstract] | ' | ' | ' |
Allowance for loan losses | 3,521,000 | 3,516,000 | ' |
Other real estate owned | 485,000 | 455,000 | ' |
Impairment writedown on securities | 0 | 168,000 | ' |
Unrealized losses on available for sale securities | 4,706,000 | 0 | ' |
Other | 425,000 | 540,000 | ' |
Gross deferred tax assets | 9,137,000 | 4,679,000 | ' |
Deferred tax liabilities [Abstract] | ' | ' | ' |
Depreciation and amortization | -2,517,000 | -2,642,000 | ' |
Unrealized gains on available for sale securities | 0 | -3,114,000 | ' |
Other | -328,000 | -220,000 | ' |
Gross deferred tax liabilities | -2,845,000 | -5,976,000 | ' |
Net deferred tax assets (liabilities) | 6,292,000 | -1,297,000 | ' |
Operating loss carryforwards | 0 | 0 | ' |
Income tax penalties expense | 0 | 0 | 0 |
Interest on income taxes expense | 0 | 0 | 0 |
Income tax penalties accrued | 0 | 0 | 0 |
Interest on income taxes accrued | $0 | $0 | $0 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments to Extend Credit [Member] | Commitments to Extend Credit [Member] | Unfunded Commitment Under Lines of Credit [Member] | Unfunded Commitment Under Lines of Credit [Member] | Commercial and Standby Letters of Credit [Member] | Commercial and Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Notional value | ' | $30,516 | $26,775 | $115,311 | $71,423 | $7,695 | $5,470 |
Extension period of majority of short-term borrowing | '1 year | ' | ' | ' | ' | ' | ' |
Maximum extension period of short-term borrowing | '3 years | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Security | ||
Assets measured on a nonrecurring basis [Abstract] | ' | ' |
Fair value assets transfers to Level 1 | $0 | ' |
Fair value asset transfers from Level 1 to Level 2 | 10,000,000 | ' |
Fair value number of asset transfers from Level 1 to Level 2 | 1 | ' |
Principal payment on municipal bonds | 900,000 | ' |
Reconciliation assets measured at fair value on a recurring basis using unobservable inputs (Level 3) [Roll Forward] | ' | ' |
Balance, beginning of year | 6,707,000 | 7,516,000 |
Total gains or losses (realized/unrealized) [Abstract] | ' | ' |
Included in earnings | 0 | 0 |
Included in other comprehensive income | 0 | 0 |
Purchases, sales, issuances and settlements, net | -873,000 | -873,000 |
Transfers in and/or out of Level 3 | 0 | 64,000 |
Balance as of end of year | 5,834,000 | 6,707,000 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets measured on recurring basis [Abstract] | ' | ' |
Securities available for sale measured at fair value | 484,211,000 | 600,300,000 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets For Identical Assets, Level 1 [Member] | ' | ' |
Assets measured on recurring basis [Abstract] | ' | ' |
Securities available for sale measured at fair value | 36,492,000 | 20,522,000 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Assets measured on recurring basis [Abstract] | ' | ' |
Securities available for sale measured at fair value | 441,885,000 | 573,071,000 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Assets measured on recurring basis [Abstract] | ' | ' |
Securities available for sale measured at fair value | 5,834,000 | 6,707,000 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets measured on a nonrecurring basis [Abstract] | ' | ' |
Impaired loans measured at fair value | 24,105,000 | 35,873,000 |
Other real estate owned measured at fair value | 3,357,000 | 2,394,000 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets For Identical Assets, Level 1 [Member] | ' | ' |
Assets measured on a nonrecurring basis [Abstract] | ' | ' |
Impaired loans measured at fair value | 0 | 0 |
Other real estate owned measured at fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs, Level 2 [Member] | ' | ' |
Assets measured on a nonrecurring basis [Abstract] | ' | ' |
Impaired loans measured at fair value | 9,282,000 | 8,563,000 |
Other real estate owned measured at fair value | 3,357,000 | 2,394,000 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs, Level 3 [Member] | ' | ' |
Assets measured on a nonrecurring basis [Abstract] | ' | ' |
Impaired loans measured at fair value | 14,823,000 | 27,310,000 |
Other real estate owned measured at fair value | $0 | $0 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Value [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and cash equivalents | $61,484 | $86,233 |
Securities, available for sale | 484,211 | 600,300 |
Securities, held to maturity | 150,293 | 58,943 |
Federal Home Loan Bank Stock | 1,835 | 1,275 |
Loans, net | 703,166 | 629,500 |
Accrued interest receivable | 6,258 | 6,711 |
Liabilities [Abstract] | ' | ' |
Deposits | 1,303,099 | 1,252,612 |
Borrowings | 6,288 | 15,846 |
Accrued interest payable | 2,364 | 2,840 |
Estimated Fair Value [Member] | ' | ' |
Assets [Abstract] | ' | ' |
Cash and cash equivalents | 61,484 | 86,233 |
Securities, available for sale | 484,211 | 600,300 |
Securities, held to maturity | 141,642 | 58,939 |
Federal Home Loan Bank Stock | 1,835 | 1,275 |
Loans, net | 703,025 | 634,042 |
Accrued interest receivable | 6,258 | 6,711 |
Liabilities [Abstract] | ' | ' |
Deposits | 1,265,898 | 1,235,526 |
Borrowings | 6,288 | 15,846 |
Accrued interest payable | $2,364 | $2,840 |
Concentrations_of_Credit_and_O1
Concentrations of Credit and Other Risks (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Deposit | |
Concentrations of Credit and Other Risks [Abstract] | ' |
Commercial and standby letters of credit | $8 |
Percentage of entity deposits (in hundredths) | 38.60% |
Number of deposits of depositing authorities | 1 |
Public fund deposits | $503.50 |
Condensed_Parent_Company_Infor2
Condensed Parent Company Information (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Investment securities: | ' | ' | ' | ' |
Available for sale, at fair value | $484,211 | $600,300 | ' | ' |
Other assets | 11,673 | 7,009 | ' | ' |
Total Assets | 1,436,441 | 1,407,303 | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' |
Short-term debt | 5,788 | 14,746 | 12,223 | ' |
Long-term debt | 500 | 1,100 | ' | ' |
Other liabilities | 1,285 | 1,824 | ' | ' |
Total Liabilities | 1,313,036 | 1,273,122 | ' | ' |
Stockholders' Equity | 123,405 | 134,181 | 126,602 | 97,938 |
Total Liabilities and Stockholders' Equity | 1,436,441 | 1,407,303 | ' | ' |
Operating Expenses | ' | ' | ' | ' |
Interest expense | 11,134 | 13,120 | 15,118 | ' |
Salaries & Benefits | 14,368 | 13,668 | 12,529 | ' |
Income Before Income Taxes | 13,723 | 17,920 | 11,756 | ' |
Income tax benefit | -4,577 | -5,861 | -3,723 | ' |
Net Income | 9,146 | 12,059 | 8,033 | ' |
Less preferred stock dividends | -713 | -1,972 | -1,976 | ' |
Income Available to Common Shareholders | 8,433 | 10,087 | 6,057 | ' |
Cash flows from operating activities: | ' | ' | ' | ' |
Net income | 9,146 | 12,059 | 8,033 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Loss on sale of securities | -1,571 | -4,868 | -3,531 | ' |
Net cash provided by operating activities | 17,166 | 16,899 | 17,970 | ' |
Cash flows from investing activities: | ' | ' | ' | ' |
Proceeds from maturities, calls and sales of AFS securities | 626,433 | 782,706 | 490,661 | ' |
Funds Invested in AFS securities | -533,320 | -884,258 | -668,616 | ' |
Net cash used in investing activities | -78,104 | -82,780 | -84,464 | ' |
Cash flows from financing activities: | ' | ' | ' | ' |
Proceeds from long-term debt | 0 | 0 | 3,500 | ' |
Repayment of long-term debt | -600 | -2,100 | -3,800 | ' |
Proceeds from issuance of preferred stock | 0 | 0 | 39,435 | ' |
Repurchase of preferred stock | 0 | 0 | -21,128 | ' |
Repurchase of common stock | 0 | -54 | 0 | ' |
Dividends paid | -4,740 | -6,007 | -5,433 | ' |
Net cash provided by (used in) financing activities | 36,189 | 39,672 | 134,099 | ' |
Net (decrease) increase in cash and cash equivalents | -24,749 | -26,209 | 67,605 | ' |
Cash and cash equivalents at the beginning of the period | 86,233 | 112,442 | 44,837 | ' |
Cash and cash equivalents at the end of the period | 61,484 | 86,233 | 112,442 | ' |
First Guaranty Bancshares, Inc. [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash | 433 | 1,291 | ' | ' |
Investment in bank subsidiary | 123,681 | 135,538 | ' | ' |
Investment securities: | ' | ' | ' | ' |
Available for sale, at fair value | 64 | 64 | ' | ' |
Other assets | 1,748 | 407 | ' | ' |
Total Assets | 125,926 | 137,300 | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' |
Short-term debt | 1,800 | 1,800 | ' | ' |
Long-term debt | 500 | 1,100 | ' | ' |
Other liabilities | 221 | 219 | ' | ' |
Total Liabilities | 2,521 | 3,119 | ' | ' |
Stockholders' Equity | 123,405 | 134,181 | ' | ' |
Total Liabilities and Stockholders' Equity | 125,926 | 137,300 | ' | ' |
Operating Income | ' | ' | ' | ' |
Dividends received from bank subsidiary | 4,669 | 6,400 | 4,600 | ' |
Other income | 90 | 1 | 32 | ' |
Total operating income | 4,759 | 6,401 | 4,632 | ' |
Operating Expenses | ' | ' | ' | ' |
Interest expense | 115 | 91 | 166 | ' |
Salaries & Benefits | 88 | 101 | 85 | ' |
Other expenses | 449 | 667 | 927 | ' |
Total operating expenses | 652 | 859 | 1,178 | ' |
Income Before Income Taxes | 4,107 | 5,542 | 3,454 | ' |
Income tax benefit | 212 | 373 | 200 | ' |
Income before increase in equity in undistributed earnings of subsidiary | 4,319 | 5,915 | 3,654 | ' |
Increase in equity in undistributed earnings of subsidiary | 4,827 | 6,144 | 4,379 | ' |
Net Income | 9,146 | 12,059 | 8,033 | ' |
Less preferred stock dividends | -713 | -1,972 | -1,976 | ' |
Income Available to Common Shareholders | 8,433 | 10,087 | 6,057 | ' |
Cash flows from operating activities: | ' | ' | ' | ' |
Net income | 9,146 | 12,059 | 8,033 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
(Increase) in equity in undistributed earnings of subsidiary | -4,827 | -6,144 | -4,379 | ' |
Loss on sale of securities | 0 | 2 | 0 | ' |
Net change in other liabilities | 2 | 32 | -349 | ' |
Net change in other assets | 161 | -122 | -250 | ' |
Net cash provided by operating activities | 4,482 | 5,827 | 3,055 | ' |
Cash flows from investing activities: | ' | ' | ' | ' |
Proceeds from maturities, calls and sales of AFS securities | 0 | 248 | 0 | ' |
Funds Invested in AFS securities | 0 | -41 | 0 | ' |
Payments for investments in and advances to subsidiary | 0 | 0 | -19,331 | ' |
Cash paid in excess of cash received in acquisition | 0 | 0 | -2,203 | ' |
Net cash used in investing activities | 0 | 207 | -21,534 | ' |
Cash flows from financing activities: | ' | ' | ' | ' |
Proceeds from short-term debt | 0 | 1,800 | 0 | ' |
Proceeds from long-term debt | 0 | 0 | 3,500 | ' |
Repayment of long-term debt | -600 | -2,100 | -3,800 | ' |
Proceeds from issuance of preferred stock | 0 | 0 | 39,435 | ' |
Repurchase of preferred stock | 0 | 0 | -21,128 | ' |
Repurchase of common stock | 0 | -54 | 0 | ' |
Dividends paid | -4,740 | -6,007 | -5,433 | ' |
Net cash provided by (used in) financing activities | -5,340 | -6,361 | 12,574 | ' |
Net (decrease) increase in cash and cash equivalents | -858 | -327 | -5,905 | ' |
Cash and cash equivalents at the beginning of the period | 1,291 | 1,618 | 7,523 | ' |
Cash and cash equivalents at the end of the period | $433 | $1,291 | $1,618 | ' |