Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 07, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | ENB Financial Corp | |
Entity Central Index Key | 1,437,479 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer | No | |
Is Entity a Voluntary Filer | No | |
Is Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,846,838 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
ASSETS | |||
Cash and due from banks | $ 16,055 | $ 15,426 | $ 15,668 |
Interest-bearing deposits in other banks | 33,812 | 28,801 | 24,139 |
Total cash and cash equivalents | 49,867 | 44,227 | 39,807 |
Securities available for sale (at fair value) | 298,139 | 289,423 | 278,470 |
Loans held for sale | 4,525 | 1,126 | 1,020 |
Loans (net of unearned income) | 565,968 | 520,283 | 495,039 |
Less: Allowance for loan losses | 7,435 | 7,078 | 7,106 |
Net loans | 558,533 | 513,205 | 487,933 |
Premises and equipment | 22,776 | 21,696 | 21,953 |
Regulatory stock | 5,218 | 4,314 | 4,296 |
Bank owned life insurance | 24,489 | 23,869 | 23,659 |
Other assets | 7,140 | 7,741 | 7,128 |
Total assets | 970,687 | 905,601 | 864,266 |
Deposits: | |||
Noninterest-bearing | 260,873 | 236,214 | 208,678 |
Interest-bearing | 531,787 | 503,848 | 484,011 |
Total deposits | 792,660 | 740,062 | 692,689 |
Short-term borrowings | 12,053 | 8,736 | 9,951 |
Long-term debt | 63,757 | 59,594 | 64,594 |
Other liabilities | 2,264 | 2,107 | 2,269 |
Total liabilities | 870,734 | 810,499 | 769,503 |
Stockholders' equity: | |||
Common stock, par value $0.20; Shares: Authorized 12,000,000 Issued 2,869,557 and Outstanding 2,851,338 (Issued 2,869,557 and Outstanding 2,849,524 as of 12/31/15) (Issued 2,869,557 and Outstanding 2,854,312 as of 9/30/15) | 574 | 574 | 574 |
Capital surplus | 4,398 | 4,395 | 4,392 |
Retained earnings | 94,353 | 91,029 | 89,804 |
Accumulated other comprehensive income (loss) net of tax | 1,221 | (252) | 475 |
Less: Treasury stock cost on 18,219 shares (20,033 shares as of 12/31/15 and 15,245 shares as of 9/30/15) | (593) | (644) | (482) |
Total stockholders' equity | 99,953 | 95,102 | 94,763 |
Total liabilities and stockholders' equity | $ 970,687 | $ 905,601 | $ 864,266 |
CONSOLIDATED BALANCE SHEETS (U3
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Statement of Financial Position [Abstract] | |||
Common stock, par value | $ 0.20 | $ 0.20 | $ 0.20 |
Common stock, authorized | 12,000,000 | 12,000,000 | 12,000,000 |
Common stock, issued | 2,869,557 | 2,869,557 | 2,869,557 |
Common stock, outstanding | 2,851,338 | 2,849,524 | 2,854,312 |
Treasury shares | 18,219 | 20,033 | 15,245 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest and dividend income: | ||||
Interest and fees on loans | $ 5,721 | $ 5,060 | $ 16,716 | $ 15,035 |
Interest on securities available for sale | ||||
Taxable | 581 | 761 | 729 | 2,566 |
Tax-exempt | 966 | 843 | 2,788 | 2,413 |
Interest on deposits at other banks | 38 | 18 | 94 | 51 |
Dividend income | 87 | 79 | 246 | 286 |
Total interest and dividend income | 7,393 | 6,761 | 20,573 | 20,351 |
Interest expense: | ||||
Interest on deposits | 509 | 614 | 1,568 | 1,898 |
Interest on borrowings | 242 | 314 | 751 | 995 |
Total interest expense | 751 | 928 | 2,319 | 2,893 |
Net interest income | 6,642 | 5,833 | 18,254 | 17,458 |
Provision (credit) for loan losses | 200 | (150) | 200 | 150 |
Net interest income after provision (credit) for loan losses | 6,442 | 5,983 | 18,054 | 17,308 |
Other income: | ||||
Trust and investment services income | 344 | 250 | 1,104 | 921 |
Service fees | 589 | 533 | 1,644 | 1,419 |
Commissions | 552 | 520 | 1,611 | 1,488 |
Gains on securities transactions, net | 464 | 529 | 2,130 | 1,690 |
Gains on sale of mortgages | 557 | 226 | 1,109 | 615 |
Earnings on bank-owned life insurance | 210 | 196 | 604 | 530 |
Other income | 112 | 88 | 364 | 274 |
Total other income | 2,828 | 2,342 | 8,566 | 6,937 |
Operating expenses: | ||||
Salaries and employee benefits | 4,219 | 3,679 | 12,230 | 11,055 |
Occupancy | 555 | 508 | 1,584 | 1,586 |
Equipment | 276 | 283 | 811 | 849 |
Advertising & marketing | 120 | 96 | 422 | 412 |
Computer software & data processing | 471 | 407 | 1,345 | 1,165 |
Shares tax | 227 | 195 | 680 | 586 |
Professional services | 380 | 322 | 1,207 | 1,077 |
Other expense | 500 | 600 | 1,663 | 1,697 |
Total operating expenses | 6,748 | 6,090 | 19,942 | 18,427 |
Income before income taxes | 2,522 | 2,235 | 6,678 | 5,818 |
Provision for federal income taxes | 445 | 382 | 1,045 | 903 |
Net income | $ 2,077 | $ 1,853 | $ 5,633 | $ 4,915 |
Earnings per share of common stock | $ 0.73 | $ 0.65 | $ 1.98 | $ 1.72 |
Cash dividends paid per share | $ 0.27 | $ 0.27 | $ 0.81 | $ 0.81 |
Weighted average shares outstanding | 2,851,939 | 2,851,893 | 2,851,184 | 2,853,823 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,077 | $ 1,853 | $ 5,633 | $ 4,915 |
Securities available for sale not other-than-temporarily impaired: | ||||
Unrealized gains (losses) arising during the period | (650) | 1,978 | 4,362 | 892 |
Income tax effect | 221 | (672) | (1,483) | (303) |
Total | (429) | 1,306 | 2,879 | 589 |
Gains recognized in earnings | (464) | (529) | (2,130) | (1,690) |
Income tax effect | 158 | 179 | 724 | 574 |
Total | (306) | (350) | (1,406) | (1,116) |
Other comprehensive income (loss), net of tax | (735) | 956 | 1,473 | (527) |
Comprehensive Income | $ 1,342 | $ 2,809 | $ 7,106 | $ 4,388 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 5,633 | $ 4,915 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization of securities premiums and discounts and loan fees | 5,393 | 4,429 |
Decrease in interest receivable | 452 | 196 |
Decrease in interest payable | (41) | (90) |
Provision for loan losses | 200 | 150 |
Gains on securities transactions, net | (2,130) | (1,690) |
Gains on sale of mortgages | (1,109) | (615) |
Loans originated for sale | (36,127) | (19,927) |
Proceeds from sales of loans | 33,837 | 20,028 |
Earnings on bank-owned life insurance | (604) | (530) |
Loss on sale of other real estate owned | 30 | |
Depreciation of premises and equipment and amortization of software | 1,209 | 1,160 |
Net (increase) decrease in deferred income tax | (314) | 285 |
Other assets and other liabilities, net | 45 | (276) |
Net cash provided by operating activities | 6,444 | 8,065 |
Securities available for sale: | ||
Proceeds from maturities, calls, and repayments | 51,739 | 37,005 |
Proceeds from sales | 142,095 | 123,335 |
Purchases | (203,307) | (146,374) |
Proceeds from sale of other real estate owned | 176 | |
Purchase of regulatory bank stock | (1,894) | (1,288) |
Redemptions of regulatory bank stock | 990 | 219 |
Purchase of bank-owned life insurance | (16) | (2,526) |
Net increase in loans | (45,803) | (24,346) |
Purchases of premises and equipment, net | (2,136) | (588) |
Purchase of computer software | (295) | (174) |
Net cash used for investing activities | (58,627) | (14,561) |
Cash flows from financing activities: | ||
Net increase in demand, NOW, and savings accounts | 68,433 | 7,346 |
Net decrease in time deposits | (15,835) | (14,308) |
Net increase in short-term borrowings | 3,317 | 9,951 |
Proceeds from long-term debt | 17,163 | 12,794 |
Repayments of long-term debt | (13,000) | (10,500) |
Dividends paid | (2,309) | (2,311) |
Treasury stock sold | 368 | 392 |
Treasury stock purchased | (314) | (473) |
Net cash provided by financing activities | 57,823 | 2,891 |
Increase (decrease) in cash and cash equivalents | 5,640 | (3,605) |
Cash and cash equivalents at beginning of period | 44,227 | 43,412 |
Cash and cash equivalents at end of period | 49,867 | 39,807 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 2,360 | 2,982 |
Income taxes paid | 1,340 | 640 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Net transfer of other real estate owned from loans | 137 | |
Fair value adjustments for securities available for sale | $ (2,231) | $ (800) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 1. Basis of Presentation The accompanying unaudited consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and to general practices within the banking industry. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all significant adjustments considered necessary for fair presentation have been included. Certain items previously reported have been reclassified to conform to the current period’s reporting format. Such reclassifications did not affect net income or stockholders’ equity. ENB Financial Corp (“the Corporation”) is the bank holding company for its wholly-owned subsidiary Ephrata National Bank (the “Bank”). This Form 10-Q, for the third quarter of 2016, is reporting on the results of operations and financial condition of ENB Financial Corp. Operating results for the three and nine months ended September 30, 2016, are not necessarily indicative of the results that may be expected for the year ended December 31, 2016. For further information, refer to the consolidated financial statements and footnotes thereto included in ENB Financial Corp’s Annual Report on Form 10-K for the year ended December 31, 2015. |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | 2. Securities Available for Sale The amortized cost, gross unrealized gains and losses, and fair value of securities held at September 30, 2016, and December 31, 2015, are as follows: Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ September 30, 2016 U.S. government agencies 33,088 28 (39 ) 33,077 U.S. agency mortgage-backed securities 50,160 239 (208 ) 50,191 U.S. agency collateralized mortgage obligations 34,940 139 (41 ) 35,038 Corporate bonds 53,751 241 (83 ) 53,909 Obligations of states and political subdivisions 118,515 1,885 (433 ) 119,967 Total debt securities 290,454 2,532 (804 ) 292,182 Marketable equity securities 5,835 125 (3 ) 5,957 Total securities available for sale 296,289 2,657 (807 ) 298,139 December 31, 2015 U.S. government agencies 29,829 3 (141 ) 29,691 U.S. agency mortgage-backed securities 42,288 39 (347 ) 41,980 U.S. agency collateralized mortgage obligations 48,140 125 (934 ) 47,331 Corporate bonds 63,825 29 (549 ) 63,305 Obligations of states and political subdivisions 100,208 1,780 (405 ) 101,583 Total debt securities 284,290 1,976 (2,376 ) 283,890 Marketable equity securities 5,515 23 (5 ) 5,533 Total securities available for sale 289,805 1,999 (2,381 ) 289,423 The amortized cost and fair value of debt securities available for sale at September 30, 2016, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to certain call or prepayment provisions. CONTRACTUAL MATURITY OF DEBT SECURITIES (DOLLARS IN THOUSANDS) Amortized Cost Fair Value $ $ Due in one year or less 20,701 20,755 Due after one year through five years 89,220 89,649 Due after five years through ten years 68,847 69,021 Due after ten years 111,686 112,757 Total debt securities 290,454 292,182 Securities available for sale with a par value of $67,271,000 and $60,295,000 at September 30, 2016, and December 31, 2015, respectively, were pledged or restricted for public funds, borrowings, or other purposes as required by law. The fair value of these pledged securities was $71,066,000 at September 30, 2016, and $65,137,000 at December 31, 2015. Proceeds from active sales of securities available for sale, along with the associated gross realized gains and gross realized losses, are shown below. Realized gains and losses are computed on the basis of specific identification. PROCEEDS FROM SALES OF SECURITIES AVAILABLE FOR SALE (DOLLARS IN THOUSANDS) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 $ $ $ $ Proceeds from sales 38,592 46,797 142,095 123,335 Gross realized gains 468 531 2,186 1,784 Gross realized losses 4 2 56 94 Management evaluates all of the Corporation’s securities for other than temporary impairment (OTTI) on a periodic basis. No securities in the portfolio had other-than-temporary impairment recorded in the first nine months of 2016 or 2015. Information pertaining to securities with gross unrealized losses at September 30, 2016, and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: TEMPORARY IMPAIRMENTS OF SECURITIES (DOLLARS IN THOUSANDS) Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of September 30, 2016 U.S. government agencies 15,955 (39 ) — — 15,955 (39 ) U.S. agency mortgage-backed securities 17,118 (128 ) 4,246 (80 ) 21,364 (208 ) U.S. agency collateralized mortgage obligations 9,492 (41 ) — — 9,492 (41 ) Corporate bonds 18,877 (78 ) 2,014 (5 ) 20,891 (83 ) Obligations of states & political subdivisions 28,209 (258 ) 9,187 (175 ) 37,396 (433 ) Total debt securities 89,651 (544 ) 15,447 (260 ) 105,098 (804 ) Marketable equity securities 107 (3 ) — — 107 (3 ) Total temporarily impaired securities 89,758 (547 ) 15,447 (260 ) 105,205 (807 ) As of December 31, 2015 U.S. government agencies 24,968 (106 ) 1,965 (35 ) 26,933 (141 ) U.S. agency mortgage-backed securities 24,613 (235 ) 4,827 (112 ) 29,440 (347 ) U.S. agency collateralized mortgage obligations 26,563 (827 ) 4,652 (107 ) 31,215 (934 ) Corporate bonds 50,530 (532 ) 2,002 (17 ) 52,532 (549 ) Obligations of states & political subdivisions 21,913 (252 ) 7,435 (153 ) 29,348 (405 ) Total debt securities 148,587 (1,952 ) 20,881 (424 ) 169,468 (2,376 ) Marketable equity securities 142 (5 ) — — 142 (5 ) Total temporarily impaired securities 148,729 (1,957 ) 20,881 (424 ) 169,610 (2,381 ) In the debt security portfolio there were 75 positions that were carrying unrealized losses as of September 30, 2016. In the equity security portfolio there were two positions that were carrying unrealized losses as of September 30, 2016. There were no instruments considered to be other-than-temporarily impaired at September 30, 2016. The Corporation evaluates both equity and fixed maturity positions for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic and market concerns warrant such evaluation. U.S. generally accepted accounting principles provide for the bifurcation of OTTI into two categories: (a) the amount of the total OTTI related to a decrease in cash flows expected to be collected from the debt security (the credit loss), which is recognized in earnings, and (b) the amount of total OTTI related to all other factors, which is recognized, net of taxes, as a component of accumulated other comprehensive income. As part of management’s normal monthly securities review, instruments are examined for known or expected calls that would impact the value of the bonds by causing accelerated amortization. If a security was purchased at a high premium, or dollar price above par, the remaining premium has to be amortized on a straight line basis to the known call date. Calls can occur in a majority of the securities the Corporation purchases but they are dependent on the structure of the instrument, and can also be dependent on certain conditions. The Corporation experienced a clean-up call on a Ginnie Mae U.S. agency mortgage-backed security in the fourth quarter of 2015, which required $385,000 of remaining premium to be amortized. Subsequent to this event, all other high coupon and/or high premium U.S. agency mortgage-backed securities and collateralized mortgage obligations were reviewed to determine if there was any other current material exposure to clean-up call provisions. No other securities were identified with impending clean-up calls. On March 15, 2016, management was made aware of a regulatory call provision on a CoBank bond held by the Corporation. CoBank is a sub-U.S. agency and cooperative of the Farm Credit Association (FCA), a U.S. government sponsored enterprise (GSE). The bond is classified as a corporate bond for disclosure purposes. The regulatory call was not anticipated and the high coupon bond was purchased at a high premium. The call required accelerated amortization to the April 15, 2016 call date, resulting in an additional $479,000 of amortization through September 30, 2016. This regulatory call specifically involved the CoBank issue maturing on April 16, 2018. On April 26, 2016, management became aware of an AgriBank bond call. AgriBank is another cooperative of the FCA. The Corporation owned $6.4 million par of the AgriBank issue maturing on July 15, 2019. AgriBank went public with this call, stating they intended to call the bonds on July 15, 2016. As a result of this par call notice, management accelerated the amortization of the remaining premium on the AgriBank bond, beginning in April and running until the call date of July 15, 2016. As of September 30, 2016, $1,202,000 of accelerated amortization was recorded on this bond. In both the CoBank and AgriBank matters investors, including the Corporation, have contested the ability of both CoBank and AgriBank to conduct these regulatory calls. Presently, management is pursuing litigation against CoBank and AgriBank to contest the process that was undertaken to exercise these regulatory calls. Management cannot make any prediction or draw any conclusion as to the outcome of any negotiations and/or litigation in connection with these matters. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | 3. Loans and Allowance for Loan Losses The following table presents the Corporation’s loan portfolio by category of loans as of September 30, 2016, and December 31, 2015: LOAN PORTFOLIO (DOLLARS IN THOUSANDS) September 30, December 31, 2016 2015 $ $ Commercial real estate Commercial mortgages 87,676 87,613 Agriculture mortgages 167,531 158,321 Construction 28,796 14,966 Total commercial real estate 284,003 260,900 Consumer real estate (a) 1-4 family residential mortgages 143,066 133,538 Home equity loans 10,537 10,288 Home equity lines of credit 50,251 37,374 Total consumer real estate 203,854 181,200 Commercial and industrial Commercial and industrial 41,705 36,189 Tax-free loans 11,485 19,083 Agriculture loans 19,363 18,305 Total commercial and industrial 72,553 73,577 Consumer 4,663 3,892 Gross loans prior to deferred fees 565,073 519,569 Less: Deferred loan costs, net (895 ) (714 ) Allowance for loan losses 7,435 7,078 Total net loans 558,533 513,205 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. The Corporation grades commercial credits differently than consumer credits. The following tables represent all of the Corporation’s commercial credit exposures by internally assigned grades as of September 30, 2016 and December 31, 2015. The grading analysis estimates the capability of the borrower to repay the contractual obligations under the loan agreements as scheduled. The Corporation's internal commercial credit risk grading system is based on experiences with similarly graded loans. The Corporation's internally assigned grades for commercial credits are as follows: · Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. · Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not corrected. · Substandard – loans that have a well-defined weakness based on objective evidence and characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. · Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. · Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. COMMERCIAL CREDIT EXPOSURE CREDIT RISK PROFILE BY INTERNALLY ASSIGNED GRADE (DOLLARS IN THOUSANDS) September 30, 2016 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 83,351 161,428 27,796 37,969 11,485 18,262 340,291 Special Mention 996 3,761 — 294 — 366 5,417 Substandard 3,329 2,342 1,000 3,442 — 735 10,848 Doubtful — — — — — — — Loss — — — — — — — Total 87,676 167,531 28,796 41,705 11,485 19,363 356,556 December 31, 2015 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 81,865 154,507 13,822 35,416 19,083 17,860 322,553 Special Mention 511 623 — — — 125 1,259 Substandard 5,237 3,191 1,144 773 — 320 10,665 Doubtful — — — — — — — Loss — — — — — — — Total 87,613 158,321 14,966 36,189 19,083 18,305 334,477 For consumer loans, the Corporation evaluates credit quality based on whether the loan is considered performing or non-performing. Non-performing loans consist of those loans greater than 90 days delinquent and nonaccrual loans. The following tables present the balances of consumer loans by classes of the loan portfolio based on payment performance as of September 30, 2016 and December 31, 2015: CONSUMER CREDIT EXPOSURE CREDIT RISK PROFILE BY PAYMENT PERFORMANCE (DOLLARS IN THOUSANDS) September 30, 2016 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 142,570 10,482 50,251 4,656 207,959 Non-performing 496 55 — 7 558 Total 143,066 10,537 50,251 4,663 208,517 December 31, 2015 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 133,220 10,278 37,327 3,889 184,714 Non-performing 318 10 47 3 378 Total 133,538 10,288 37,374 3,892 185,092 The following tables present an age analysis of the Corporation’s past due loans, segregated by loan portfolio class, as of September 30, 2016 and December 31, 2015: AGING OF LOANS RECEIVABLE (DOLLARS IN THOUSANDS) Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and September 30, 2016 Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages 350 — 586 936 86,740 87,676 161 Agriculture mortgages — — — — 167,531 167,531 — Construction — — — — 28,796 28,796 — Consumer real estate 1-4 family residential mortgages 465 198 496 1,159 141,907 143,066 496 Home equity loans 41 5 55 101 10,436 10,537 2 Home equity lines of credit — — — — 50,251 50,251 — Commercial and industrial Commercial and industrial 5 — 75 80 41,625 41,705 — Tax-free loans — — — — 11,485 11,485 — Agriculture loans — — — — 19,363 19,363 — Consumer 16 5 7 28 4,635 4,663 7 Total 877 208 1,219 2,304 562,769 565,073 666 Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and December 31, 2015 Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages — 601 — 601 87,012 87,613 — Agriculture mortgages — — — — 158,321 158,321 — Construction — — — — 14,966 14,966 — Consumer real estate 1-4 family residential mortgages 1,264 123 318 1,705 131,833 133,538 318 Home equity loans 27 59 10 96 10,192 10,288 10 Home equity lines of credit 35 — 47 82 37,292 37,374 47 Commercial and industrial Commercial and industrial 20 9 — 29 36,160 36,189 — Tax-free loans — — — — 19,083 19,083 — Agriculture loans — — — — 18,305 18,305 — Consumer 17 17 3 37 3,855 3,892 3 Total 1,363 809 378 2,550 517,019 519,569 378 The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2016 and December 31, 2015: NONACCRUAL LOANS BY LOAN CLASS (DOLLARS IN THOUSANDS) September 30, December 31, 2016 2015 $ $ Commercial real estate Commercial mortgages 677 380 Agriculture mortgages — — Construction — — Consumer real estate 1-4 family residential mortgages — — Home equity loans 53 — Home equity lines of credit — — Commercial and industrial Commercial and industrial 75 — Tax-free loans — — Agriculture loans — — Consumer — — Total 805 380 As of September 30, 2016 and December 31, 2015, all of the Corporation’s commercial loans on nonaccrual status were also considered impaired. Information with respect to impaired loans for the three and nine months ended September 30, 2016 and September 30, 2015, is as follows: IMPAIRED LOANS (DOLLARS IN THOUSANDS) Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 $ $ $ $ Average recorded balance of impaired loans 1,830 1,820 1,894 1,997 Interest income recognized on impaired loans 14 23 42 68 Interest income on impaired loans would have increased by approximately $9,000 and $16,000 for the three and nine months ended September 30, 2016, compared to $3,000 and $17,000 for the three and nine months ended September 30, 2015, had these loans performed in accordance with their original terms. During the nine months ended September 30, 2016 and 2015, there were no loan modifications made that would cause a loan to be considered a troubled debt restructuring (TDR). A TDR is a loan where management has granted a concession to the borrower from the original terms. A concession is generally defined as more favorable payment or credit terms granted to a borrower in an effort to improve the likelihood of the lender collecting principal in its entirety. Concessions usually are in the form of interest only for a period of time, or a lower interest rate offered in an effort to enable the borrower to continue to make normally scheduled payments. The following tables summarize information in regards to impaired loans by loan portfolio class as of September 30, 2016, December 31, 2015, and September 30, 2015: IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) September 30, 2016 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 730 827 — 561 — Agriculture mortgages 1,267 1,267 — 1,295 42 Construction — — — — — Total commercial real estate 1,997 2,094 — 1,856 42 Commercial and industrial Commercial and industrial 75 75 — 38 — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 75 75 — 38 — Total with no related allowance 2,072 2,169 — 1,894 42 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 730 827 — 561 — Agriculture mortgages 1,267 1,267 — 1,295 42 Construction — — — — — Total commercial real estate 1,997 2,094 — 1,856 42 Commercial and industrial Commercial and industrial 75 75 — 38 — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 75 75 — 38 — Total 2,072 2,169 — 1,894 42 IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) December 31, 2015 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 380 952 — 544 — Agriculture mortgages 1,325 1,325 — 1,359 83 Construction — — — — — Total commercial real estate 1,705 2,277 — 1,903 83 Commercial and industrial Commercial and industrial — 49 — 54 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — 49 — 54 3 Total with no related allowance 1,705 2,326 — 1,957 86 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 380 952 — 544 — Agriculture mortgages 1,325 1,325 — 1,359 83 Construction — — — — — Total commercial real estate 1,705 2,277 — 1,903 83 Commercial and industrial Commercial and industrial — 49 — 54 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — 49 — 54 3 Total 1,705 2,326 — 1,957 86 IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) September 30, 2015 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 423 995 — 572 — Agriculture mortgages 1,345 1,345 — 1,367 65 Construction — — — — — Total commercial real estate 1,768 2,340 — 1,939 65 Commercial and industrial Commercial and industrial 46 53 — 58 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 46 53 — 58 3 Total with no related allowance 1,814 2,393 — 1,997 68 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 423 995 — 572 — Agriculture mortgages 1,345 1,345 — 1,367 65 Construction — — — — — Total commercial real estate 1,768 2,340 — 1,939 65 Commercial and industrial Commercial and industrial 46 53 — 58 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 46 53 — 58 3 Total 1,814 2,393 — 1,997 68 The following table details activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2016: ALLOWANCE FOR CREDIT LOSSES (DOLLARS IN THOUSANDS) Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2015 3,831 1,403 1,314 62 468 7,078 Charge-offs — — (4 ) (12 ) — (16 ) Recoveries — 10 16 2 — 28 Provision (303 ) (45 ) 47 15 236 (50 ) Balance - March 31, 2016 3,528 1,368 1,373 67 704 7,040 Charge-offs — — — (2 ) — (2 ) Recoveries — — 159 — — 159 Provision 255 105 (271 ) 6 (45 ) 50 Ending Balance - June 30, 2016 3,783 1,473 1,261 71 659 7,247 Charge-offs — — (19 ) (10 ) — (29 ) Recoveries — 1 9 7 — 17 Provision 95 95 101 20 (111 ) 200 Ending Balance - September 30, 2016 3,878 1,569 1,352 88 548 7,435 During the nine months ended September 30, 2016, a credit provision was recorded for the commercial and industrial segment with provision expense recorded in all other loan categories. For the entire portfolio, $200,000 of additional provision expense was needed for the first nine months of 2016. Delinquency rates among most loan pools remain very low with the total amount of delinquent loans lower on September 30, 2016 than on December 31, 2015, even with larger loan balances. The Corporation received $157,000 more recoveries than charge-offs for the nine months ended September 30, 2016. These favorable results acted to offset higher levels of classified loans and non-accruals resulting in $200,000 of additional provision being sufficient to cover the growth in the loan portfolio. Changes in qualitative factors were minimal during the third quarter and the provision expense recorded was mostly to account for significant loan growth during the year-to-date period. T ALLOWANCE FOR CREDIT LOSSES (DOLLARS IN THOUSANDS) Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2014 3,834 1,367 1,301 66 573 7,141 Charge-offs (272 ) — — (1 ) — (273 ) Recoveries 2 — 70 — — 72 Provision 623 (283 ) (147 ) (11 ) 18 200 Balance - March 31, 2015 4,187 1,084 1,224 54 591 7,140 Charge-offs — — (2 ) (3 ) — (5 ) Recoveries 1 — 11 2 — 14 Provision (29 ) (20 ) 157 22 (30 ) 100 Ending Balance - June 30, 2015 4,159 1,064 1,390 75 561 7,249 Charge-offs — — — (4 ) — (4 ) Recoveries — — 10 1 — 11 Provision (63 ) 94 (195 ) (26 ) 40 (150 ) Ending Balance - September 30, 2015 4,096 1,158 1,205 46 601 7,106 During the nine months ended September 30, 2015, provision expense was recorded for the commercial real estate segment with credit provisions recorded in all other loan categories. There were $272,000 of commercial real estate loan charge-offs during the first quarter of 2015, which increased the historical loss rates and ultimately resulted in a higher required reserve amount for the commercial real estate category as of March 31, 2015. However, since the first quarter, charge-offs had been at a minimum, economic conditions continued to improve, and the qualitative factors impacting commercial real estate had declined, resulting in a lower allocation. The majority of the Corporation’s total allowance is devoted to commercial real estate as this is the largest element of the portfolio and generally carries a higher element of credit risk. With charge-offs and recoveries running at minimal levels for the second and third quarters of 2015, it had been the qualitative factor movements that were primarily responsible for adjusting the allocations shown above for the four main loan categories. The following tables present the balance in the allowance for credit losses and the recorded investment in loans receivable by portfolio segment based on impairment method as of September 30, 2016 and December 31, 2015: ALLOWANCE FOR CREDIT LOSSES AND RECORDED INVESTMENT IN LOANS RECEIVABLE (DOLLARS IN THOUSANDS) As of September 30, 2016: Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 3,878 1,569 1,352 88 548 7,435 Loans receivable: Ending balance 284,003 203,854 72,553 4,663 565,073 Ending balance: individually evaluated for impairment 1,997 — 75 — 2,072 Ending balance: collectively evaluated for impairment 282,006 203,854 72,478 4,663 563,001 As of December 31, 2015: Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 3,831 1,403 1,314 62 468 7,078 Loans receivable: Ending balance 260,900 181,200 73,577 3,892 519,569 Ending balance: individually evaluated for impairment 1,705 — — — 1,705 Ending balance: collectively evaluated for impairment 259,195 181,200 73,577 3,892 517,864 |
Fair Value Presentation
Fair Value Presentation | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Presentation | 4. Fair Value Presentation U.S. generally accepted accounting principles establish a hierarchal disclosure framework associated with the level of observable pricing utilized in measuring assets and liabilities at fair value. The three broad levels defined by the hierarchy are as follows: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no observable pricing as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. The following tables present the assets reported on the consolidated balance sheets at their fair value as of September 30, 2016, and December 31, 2015, by level within the fair value hierarchy. As required by U.S. generally accepted accounting principles, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair Value Measurements: ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) September 30, 2016 Level I Level II Level III Total $ $ $ $ U.S. government agencies — 33,077 — 33,077 U.S. agency mortgage-backed securities — 50,191 — 50,191 U.S. agency collateralized mortgage obligations — 35,038 — 35,038 Corporate bonds — 53,909 — 53,909 Obligations of states & political subdivisions — 119,967 — 119,967 Marketable equity securities 5,957 — — 5,957 Total securities 5,957 292,182 — 298,139 On September 30, 2016, the Corporation held no securities valued using level III inputs. All of the Corporation’s debt instruments were valued using level II inputs, where quoted prices are available and observable, but not necessarily quotes on identical securities traded in active markets on a daily basis. The Corporation’s CRA fund investments and bank stocks are fair valued utilizing level I inputs because the funds have their own quoted prices in an active market. As of September 30, 2016, the CRA fund investments had a $5,000,000 book and fair market value and the bank stock portfolio had a book value of $835,000, and fair market value of $957,000. Fair Value Measurements: ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) December 31, 2015 Level I Level II Level III Total $ $ $ $ U.S. government agencies — 29,691 — 29,691 U.S. agency mortgage-backed securities — 41,980 — 41,980 U.S. agency collateralized mortgage obligations — 47,331 — 47,331 Corporate bonds — 63,305 — 63,305 Obligations of states & political subdivisions — 101,583 — 101,583 Marketable equity securities 5,533 — — 5,533 Total securities 5,533 283,890 — 289,423 On December 31, 2015, the Corporation held no securities valued using level III inputs. All of the Corporation’s debt instruments were valued using level II inputs, where quoted prices are available and observable but not necessarily quotes on identical securities traded in active markets on a daily basis. As of December 31, 2015, the Corporation’s CRA fund investments had a book and fair market value of $5,000,000 and the bank stock portfolio had a book value of $515,000 and a market value of $533,000 utilizing level I pricing. Financial instruments are considered level III when their values are determined using pricing models, discounted cash flow methodologies, or similar techniques, and at least one significant model assumption or input is unobservable. In addition to these unobservable inputs, the valuation models for level III financial instruments typically also rely on a number of inputs that are readily observable either directly or indirectly. Level III financial instruments also include those for which the determination of fair value requires significant management judgment or estimation. There were no level III securities as of September 30, 2016 or December 31, 2015. The following tables present the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of September 30, 2016 and December 31, 2015, by level within the fair value hierarchy: ASSETS MEASURED ON A NONRECURRING BASIS ( Dollars in Thousands September 30, 2016 Level I Level II Level III Total Assets: Impaired Loans — — 2,072 2,072 Total — — 2,072 2,072 December 31, 2015 Level I Level II Level III Total Assets: Impaired Loans — — 1,705 1,705 Total — — 1,705 1,705 The Corporation had a total of $2,072,000 of impaired loans as of September 30, 2016, with no specific allocation against these loans and $1,705,000 of impaired loans as of December 31, 2015, with no specific allocation against these loans. The value of impaired loans is generally determined through independent appraisals of the underlying collateral. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized level III inputs to determine fair value: QUANTITATIVE INFORMATION ABOUT LEVEL III FAIR VALUE MEASUREMENTS (DOLLARS IN THOUSANDS) September 30, 2016 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 2,072 Appraisal of Appraisal -20% (-20%) collateral (1) adjustments (2) Liquidation -10% (-10%) expenses (2) December 31, 2015 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 1,705 Appraisal of Appraisal -20% (-20%) collateral (1) adjustments (2) Liquidation -10% (-10%) expenses (2) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Interim Disclosures about Fair
Interim Disclosures about Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Interim Disclosures about Fair Value of Financial Instruments | 5. Interim Disclosures about Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and Cash Equivalents For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Securities Available for Sale Management utilizes quoted market pricing for the fair value of the Corporation's securities that are available for sale, if available. If a quoted market rate is not available, fair value is estimated using quoted market prices for similar securities. Regulatory Stock Regulatory stock is valued at a stable dollar price, which is the price used to purchase or liquidate shares; therefore, the carrying amount is a reasonable estimate of fair value. Loans Held for Sale Loans held for sale are individual loans for which the Corporation has a firm sales commitment; therefore, the carrying value is a reasonable estimate of the fair value. Loans The fair value of fixed and variable rate loans is estimated by discounting back the scheduled future cash flows of the particular loan product, using the market interest rates of comparable loan products in the Corporation’s greater market area, with the same general structure, comparable credit ratings, and for the same remaining maturities. Accrued Interest Receivable The carrying amount of accrued interest receivable is a reasonable estimate of fair value. Bank Owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies. Deposits The fair value of non-interest bearing demand deposit accounts and interest bearing demand, savings, and money market deposit accounts is based on the amount payable on demand at the reporting date. The fair value of fixed-maturity time deposits is estimated by discounting back the expected cash flows of the time deposit using market interest rates from the Corporation’s greater market area currently offered for similar time deposits with similar remaining maturities. Borrowings The carrying amount of short-term borrowing is a reasonable estimate of fair value. The fair value of long-term borrowing is estimated by comparing the rate currently offered for the same type of borrowing instrument with a matching remaining term. Accrued Interest Payable The carrying amount of accrued interest payable is a reasonable estimate of fair value. Firm Commitments to Extend Credit, Lines of Credit, and Open Letters of Credit These financial instruments are generally not subject to sale and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment or letter of credit, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment, using fees currently charged to enter into similar agreements with similar credit risk, is not considered material for disclosure purposes. The contractual amounts of unfunded commitments are presented in Note 6. Fair Value of Financial Instruments The carrying amounts and estimated fair values of the Corporation's financial instruments at September 30, 2016 and December 31, 2015, are summarized as follows: FAIR VALUE OF FINANCIAL INSTRUMENTS (DOLLARS IN THOUSANDS) September 30, 2016 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 49,867 49,867 49,867 — — Securities available for sale 298,139 298,139 5,957 292,182 — Regulatory stock 5,218 5,218 5,218 — — Loans held for sale 4,525 4,525 4,525 — — Loans, net of allowance 558,533 556,457 — — 556,457 Accrued interest receivable 3,148 3,148 3,148 — — Bank owned life insurance 24,489 24,489 24,489 — — Financial Liabilities: Demand deposits 260,873 260,873 260,873 — — Interest-bearing demand deposits 21,799 21,799 21,799 — — NOW accounts 91,719 91,719 91,719 — — Money market deposit accounts 86,096 86,096 86,096 — — Savings accounts 166,904 166,904 166,904 — — Time deposits 165,269 166,851 — — 166,851 Total deposits 792,660 794,242 627,391 — 166,851 Short-term borrowings 12,053 12,053 12,053 — — Long-term debt 63,757 64,379 — — 64,379 Accrued interest payable 415 415 415 — — FAIR VALUE OF FINANCIAL INSTRUMENTS (DOLLARS IN THOUSANDS) December 31, 2015 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 44,227 44,227 44,227 — — Securities available for sale 289,423 289,423 5,533 283,890 — Regulatory stock 4,314 4,314 4,314 — — Loans held for sale 1,126 1,126 1,126 — — Loans, net of allowance 513,205 512,481 — — 512,481 Accrued interest receivable 3,600 3,600 3,600 — — Bank owned life insurance 23,869 23,869 23,869 — — Financial Liabilities: Demand deposits 236,214 236,214 236,214 — — Interest-bearing demand deposits 14,737 14,737 14,737 — — NOW accounts 77,180 77,180 77,180 — — Money market deposit accounts 82,507 82,507 82,507 — — Savings accounts 148,320 148,320 148,320 — — Time deposits 181,104 182,887 — — 182,887 Total deposits 740,062 741,845 558,958 — 182,887 Short-term borrowings 8,736 8,736 8,736 — — Long-term debt 59,594 59,805 — — 59,805 Accrued interest payable 456 456 456 — — |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | 6. Commitments and Contingent Liabilities In order to meet the financing needs of its customers in the normal course of business, the Corporation makes various commitments that are not reflected in the accompanying consolidated financial statements. These commitments include firm commitments to extend credit, unused lines of credit, and open letters of credit. As of September 30, 2016, firm loan commitments were $39.3 million, unused lines of credit were $178.7 million, and open letters of credit were $10.4 million. The total of these commitments was $228.4 million, which represents the CorporationÂ’s exposure to credit loss in the event of nonperformance by its customers with respect to these financial instruments. The actual credit losses that may arise from these commitments are expected to compare favorably with the CorporationÂ’s loan loss experience on its loan portfolio taken as a whole. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for balance sheet financial instruments. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | 7. Accumulated Other Comprehensive Income (Loss) The activity in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 is as follows: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (1) (2) (DOLLARS IN THOUSANDS) Unrealized Gains (Losses) on Securities Available-for-Sale $ Balance at December 31, 2015 (252 ) Other comprehensive income before reclassifications 1,050 Amount reclassified from accumulated other comprehensive income (480 ) Period change 570 Balance at March 31, 2016 318 Other comprehensive income before reclassifications 2,258 Amount reclassified from accumulated other comprehensive income (620 ) Period change 1,638 Balance at June 30, 2016 1,956 Other comprehensive loss before reclassifications (429 ) Amount reclassified from accumulated other comprehensive loss (306 ) Period change (735 ) Balance at September 30, 2016 1,221 Balance at December 31, 2014 1,002 Other comprehensive income before reclassifications 1,529 Amount reclassified from accumulated other comprehensive income (370 ) Period change 1,159 Balance at March 31, 2015 2,161 Other comprehensive loss before reclassifications (2,246 ) Amount reclassified from accumulated other comprehensive loss (396 ) Period change (2,642 ) Balance at June 30, 2015 (481 ) Other comprehensive income before reclassifications 1,306 Amount reclassified from accumulated other comprehensive income (350 ) Period change 956 Balance at September 30, 2015 475 (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate of 34%. (2) Amounts in parentheses indicate debits. DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1) (DOLLARS IN THOUSANDS) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended September 30, 2016 2015 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings 464 529 Gains on securities transactions, net Related income tax expense (158 ) (179 ) Provision for federal income taxes Net effect on accumulated other comprehensive income for the period 306 350 (1) Amounts in parentheses indicate debits. DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1) (DOLLARS IN THOUSANDS) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 2015 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings 2,130 1,690 Gains on securities transactions, net Related income tax expense (724 ) (574 ) Provision for federal income taxes Net effect on accumulated other comprehensive income for the period 1,406 1,116 (1) Amounts in parentheses indicate debits. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | 8. Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers Topic 606 In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606). Revenue from Contracts with Customers (Topic 606), Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606). Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of amortized cost and fair value of securities | Gross Gross (DOLLARS IN THOUSANDS) Amortized Unrealized Unrealized Fair Cost Gains Losses Value $ $ $ $ September 30, 2016 U.S. government agencies 33,088 28 (39 ) 33,077 U.S. agency mortgage-backed securities 50,160 239 (208 ) 50,191 U.S. agency collateralized mortgage obligations 34,940 139 (41 ) 35,038 Corporate bonds 53,751 241 (83 ) 53,909 Obligations of states and political subdivisions 118,515 1,885 (433 ) 119,967 Total debt securities 290,454 2,532 (804 ) 292,182 Marketable equity securities 5,835 125 (3 ) 5,957 Total securities available for sale 296,289 2,657 (807 ) 298,139 December 31, 2015 U.S. government agencies 29,829 3 (141 ) 29,691 U.S. agency mortgage-backed securities 42,288 39 (347 ) 41,980 U.S. agency collateralized mortgage obligations 48,140 125 (934 ) 47,331 Corporate bonds 63,825 29 (549 ) 63,305 Obligations of states and political subdivisions 100,208 1,780 (405 ) 101,583 Total debt securities 284,290 1,976 (2,376 ) 283,890 Marketable equity securities 5,515 23 (5 ) 5,533 Total securities available for sale 289,805 1,999 (2,381 ) 289,423 |
Schedule of contractual maturity of debt securities | CONTRACTUAL MATURITY OF DEBT SECURITIES (DOLLARS IN THOUSANDS) Amortized Cost Fair Value $ $ Due in one year or less 20,701 20,755 Due after one year through five years 89,220 89,649 Due after five years through ten years 68,847 69,021 Due after ten years 111,686 112,757 Total debt securities 290,454 292,182 |
Schedule of proceeds and gains and losses on securities available for sale | PROCEEDS FROM SALES OF SECURITIES AVAILABLE FOR SALE (DOLLARS IN THOUSANDS) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 $ $ $ $ Proceeds from sales 38,592 46,797 142,095 123,335 Gross realized gains 468 531 2,186 1,784 Gross realized losses 4 2 56 94 |
Schedule of securities in an unrealized loss position (temporary impairment) | TEMPORARY IMPAIRMENTS OF SECURITIES (DOLLARS IN THOUSANDS) Less than 12 months More than 12 months Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses $ $ $ $ $ $ As of September 30, 2016 U.S. government agencies 15,955 (39 ) — — 15,955 (39 ) U.S. agency mortgage-backed securities 17,118 (128 ) 4,246 (80 ) 21,364 (208 ) U.S. agency collateralized mortgage obligations 9,492 (41 ) — — 9,492 (41 ) Corporate bonds 18,877 (78 ) 2,014 (5 ) 20,891 (83 ) Obligations of states & political subdivisions 28,209 (258 ) 9,187 (175 ) 37,396 (433 ) Total debt securities 89,651 (544 ) 15,447 (260 ) 105,098 (804 ) Marketable equity securities 107 (3 ) — — 107 (3 ) Total temporarily impaired securities 89,758 (547 ) 15,447 (260 ) 105,205 (807 ) As of December 31, 2015 U.S. government agencies 24,968 (106 ) 1,965 (35 ) 26,933 (141 ) U.S. agency mortgage-backed securities 24,613 (235 ) 4,827 (112 ) 29,440 (347 ) U.S. agency collateralized mortgage obligations 26,563 (827 ) 4,652 (107 ) 31,215 (934 ) Corporate bonds 50,530 (532 ) 2,002 (17 ) 52,532 (549 ) Obligations of states & political subdivisions 21,913 (252 ) 7,435 (153 ) 29,348 (405 ) Total debt securities 148,587 (1,952 ) 20,881 (424 ) 169,468 (2,376 ) Marketable equity securities 142 (5 ) — — 142 (5 ) Total temporarily impaired securities 148,729 (1,957 ) 20,881 (424 ) 169,610 (2,381 ) |
Loans and Allowance for Loan 16
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Schedule of loan portfolio by category | The following table presents the CorporationÂ’s loan portfolio by category of loans as of September 30, 2016, and December 31, 2015: LOAN PORTFOLIO (DOLLARS IN THOUSANDS) September 30, December 31, 2016 2015 $ $ Commercial real estate Commercial mortgages 87,676 87,613 Agriculture mortgages 167,531 158,321 Construction 28,796 14,966 Total commercial real estate 284,003 260,900 Consumer real estate (a) 1-4 family residential mortgages 143,066 133,538 Home equity loans 10,537 10,288 Home equity lines of credit 50,251 37,374 Total consumer real estate 203,854 181,200 Commercial and industrial Commercial and industrial 41,705 36,189 Tax-free loans 11,485 19,083 Agriculture loans 19,363 18,305 Total commercial and industrial 72,553 73,577 Consumer 4,663 3,892 Gross loans prior to deferred fees 565,073 519,569 Less: Deferred loan costs, net (895 ) (714 ) Allowance for loan losses 7,435 7,078 Total net loans 558,533 513,205 (a) Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Schedule of commercial and consumer credit exposure | COMMERCIAL CREDIT EXPOSURE CREDIT RISK PROFILE BY INTERNALLY ASSIGNED GRADE (DOLLARS IN THOUSANDS) September 30, 2016 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 83,351 161,428 27,796 37,969 11,485 18,262 340,291 Special Mention 996 3,761 — 294 — 366 5,417 Substandard 3,329 2,342 1,000 3,442 — 735 10,848 Doubtful — — — — — — — Loss — — — — — — — Total 87,676 167,531 28,796 41,705 11,485 19,363 356,556 December 31, 2015 Commercial Agriculture Construction Commercial Tax-free Agriculture Total $ $ $ $ $ $ $ Grade: Pass 81,865 154,507 13,822 35,416 19,083 17,860 322,553 Special Mention 511 623 — — — 125 1,259 Substandard 5,237 3,191 1,144 773 — 320 10,665 Doubtful — — — — — — — Loss — — — — — — — Total 87,613 158,321 14,966 36,189 19,083 18,305 334,477 CONSUMER CREDIT EXPOSURE CREDIT RISK PROFILE BY PAYMENT PERFORMANCE (DOLLARS IN THOUSANDS) September 30, 2016 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 142,570 10,482 50,251 4,656 207,959 Non-performing 496 55 — 7 558 Total 143,066 10,537 50,251 4,663 208,517 December 31, 2015 1-4 Family Home Equity Home Equity Consumer Total Payment performance: $ $ $ $ $ Performing 133,220 10,278 37,327 3,889 184,714 Non-performing 318 10 47 3 378 Total 133,538 10,288 37,374 3,892 185,092 |
Schedule of aging of loans receivable | The following tables present an age analysis of the Corporation’s past due loans, segregated by loan portfolio class, as of September 30, 2016 and December 31, 2015: AGING OF LOANS RECEIVABLE (DOLLARS IN THOUSANDS) Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and September 30, 2016 Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages 350 — 586 936 86,740 87,676 161 Agriculture mortgages — — — — 167,531 167,531 — Construction — — — — 28,796 28,796 — Consumer real estate 1-4 family residential mortgages 465 198 496 1,159 141,907 143,066 496 Home equity loans 41 5 55 101 10,436 10,537 2 Home equity lines of credit — — — — 50,251 50,251 — Commercial and industrial Commercial and industrial 5 — 75 80 41,625 41,705 — Tax-free loans — — — — 11,485 11,485 — Agriculture loans — — — — 19,363 19,363 — Consumer 16 5 7 28 4,635 4,663 7 Total 877 208 1,219 2,304 562,769 565,073 666 Loans Greater Receivable > 30-59 Days 60-89 Days than 90 Total Past Total Loans 90 Days and December 31, 2015 Past Due Past Due Days Due Current Receivable Accruing $ $ $ $ $ $ $ Commercial real estate Commercial mortgages — 601 — 601 87,012 87,613 — Agriculture mortgages — — — — 158,321 158,321 — Construction — — — — 14,966 14,966 — Consumer real estate 1-4 family residential mortgages 1,264 123 318 1,705 131,833 133,538 318 Home equity loans 27 59 10 96 10,192 10,288 10 Home equity lines of credit 35 — 47 82 37,292 37,374 47 Commercial and industrial Commercial and industrial 20 9 — 29 36,160 36,189 — Tax-free loans — — — — 19,083 19,083 — Agriculture loans — — — — 18,305 18,305 — Consumer 17 17 3 37 3,855 3,892 3 Total 1,363 809 378 2,550 517,019 519,569 378 |
Schedule of nonaccrual loans by class | The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2016 and December 31, 2015: NONACCRUAL LOANS BY LOAN CLASS (DOLLARS IN THOUSANDS) September 30, December 31, 2016 2015 $ $ Commercial real estate Commercial mortgages 677 380 Agriculture mortgages — — Construction — — Consumer real estate 1-4 family residential mortgages — — Home equity loans 53 — Home equity lines of credit — — Commercial and industrial Commercial and industrial 75 — Tax-free loans — — Agriculture loans — — Consumer — — Total 805 380 |
Schedule of impaired loans | As of September 30, 2016 and December 31, 2015, all of the Corporation’s commercial loans on nonaccrual status were also considered impaired. Information with respect to impaired loans for the three and nine months ended September 30, 2016 and September 30, 2015, is as follows: IMPAIRED LOANS (DOLLARS IN THOUSANDS) Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 $ $ $ $ Average recorded balance of impaired loans 1,830 1,820 1,894 1,997 Interest income recognized on impaired loans 14 23 42 68 The following tables summarize information in regards to impaired loans by loan portfolio class as of September 30, 2016, December 31, 2015, and September 30, 2015: IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) September 30, 2016 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 730 827 — 561 — Agriculture mortgages 1,267 1,267 — 1,295 42 Construction — — — — — Total commercial real estate 1,997 2,094 — 1,856 42 Commercial and industrial Commercial and industrial 75 75 — 38 — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 75 75 — 38 — Total with no related allowance 2,072 2,169 — 1,894 42 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 730 827 — 561 — Agriculture mortgages 1,267 1,267 — 1,295 42 Construction — — — — — Total commercial real estate 1,997 2,094 — 1,856 42 Commercial and industrial Commercial and industrial 75 75 — 38 — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 75 75 — 38 — Total 2,072 2,169 — 1,894 42 IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) December 31, 2015 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 380 952 — 544 — Agriculture mortgages 1,325 1,325 — 1,359 83 Construction — — — — — Total commercial real estate 1,705 2,277 — 1,903 83 Commercial and industrial Commercial and industrial — 49 — 54 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — 49 — 54 3 Total with no related allowance 1,705 2,326 — 1,957 86 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 380 952 — 544 — Agriculture mortgages 1,325 1,325 — 1,359 83 Construction — — — — — Total commercial real estate 1,705 2,277 — 1,903 83 Commercial and industrial Commercial and industrial — 49 — 54 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — 49 — 54 3 Total 1,705 2,326 — 1,957 86 IMPAIRED LOAN ANALYSIS (DOLLARS IN THOUSANDS) September 30, 2015 Recorded Unpaid Related Average Interest $ $ $ $ $ With no related allowance recorded: Commercial real estate Commercial mortgages 423 995 — 572 — Agriculture mortgages 1,345 1,345 — 1,367 65 Construction — — — — — Total commercial real estate 1,768 2,340 — 1,939 65 Commercial and industrial Commercial and industrial 46 53 — 58 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 46 53 — 58 3 Total with no related allowance 1,814 2,393 — 1,997 68 With an allowance recorded: Commercial real estate Commercial mortgages — — — — — Agriculture mortgages — — — — — Construction — — — — — Total commercial real estate — — — — — Commercial and industrial Commercial and industrial — — — — — Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial — — — — — Total with a related allowance — — — — — Total by loan class: Commercial real estate Commercial mortgages 423 995 — 572 — Agriculture mortgages 1,345 1,345 — 1,367 65 Construction — — — — — Total commercial real estate 1,768 2,340 — 1,939 65 Commercial and industrial Commercial and industrial 46 53 — 58 3 Tax-free loans — — — — — Agriculture loans — — — — — Total commercial and industrial 46 53 — 58 3 Total 1,814 2,393 — 1,997 68 |
Schedule of allowance for credit losses | The following table details activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2016: ALLOWANCE FOR CREDIT LOSSES (DOLLARS IN THOUSANDS) Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2015 3,831 1,403 1,314 62 468 7,078 Charge-offs — — (4 ) (12 ) — (16 ) Recoveries — 10 16 2 — 28 Provision (303 ) (45 ) 47 15 236 (50 ) Balance - March 31, 2016 3,528 1,368 1,373 67 704 7,040 Charge-offs — — — (2 ) — (2 ) Recoveries — — 159 — — 159 Provision 255 105 (271 ) 6 (45 ) 50 Ending Balance - June 30, 2016 3,783 1,473 1,261 71 659 7,247 Charge-offs — — (19 ) (10 ) — (29 ) Recoveries — 1 9 7 — 17 Provision 95 95 101 20 (111 ) 200 Ending Balance - September 30, 2016 3,878 1,569 1,352 88 548 7,435 T ALLOWANCE FOR CREDIT LOSSES (DOLLARS IN THOUSANDS) Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Beginning balance - December 31, 2014 3,834 1,367 1,301 66 573 7,141 Charge-offs (272 ) — — (1 ) — (273 ) Recoveries 2 — 70 — — 72 Provision 623 (283 ) (147 ) (11 ) 18 200 Balance - March 31, 2015 4,187 1,084 1,224 54 591 7,140 Charge-offs — — (2 ) (3 ) — (5 ) Recoveries 1 — 11 2 — 14 Provision (29 ) (20 ) 157 22 (30 ) 100 Ending Balance - June 30, 2015 4,159 1,064 1,390 75 561 7,249 Charge-offs — — — (4 ) — (4 ) Recoveries — — 10 1 — 11 Provision (63 ) 94 (195 ) (26 ) 40 (150 ) Ending Balance - September 30, 2015 4,096 1,158 1,205 46 601 7,106 The following tables present the balance in the allowance for credit losses and the recorded investment in loans receivable by portfolio segment based on impairment method as of September 30, 2016 and December 31, 2015: ALLOWANCE FOR CREDIT LOSSES AND RECORDED INVESTMENT IN LOANS RECEIVABLE (DOLLARS IN THOUSANDS) As of September 30, 2016: Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 3,878 1,569 1,352 88 548 7,435 Loans receivable: Ending balance 284,003 203,854 72,553 4,663 565,073 Ending balance: individually evaluated for impairment 1,997 — 75 — 2,072 Ending balance: collectively evaluated for impairment 282,006 203,854 72,478 4,663 563,001 As of December 31, 2015: Commercial Consumer Commercial Consumer Unallocated Total $ $ $ $ $ $ Allowance for credit losses: Ending balance: individually evaluated for impairment — — — — — — Ending balance: collectively evaluated for impairment 3,831 1,403 1,314 62 468 7,078 Loans receivable: Ending balance 260,900 181,200 73,577 3,892 519,569 Ending balance: individually evaluated for impairment 1,705 — — — 1,705 Ending balance: collectively evaluated for impairment 259,195 181,200 73,577 3,892 517,864 |
Fair Value Presentation (Tables
Fair Value Presentation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets measured on a recurring basis | Fair Value Measurements: ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) September 30, 2016 Level I Level II Level III Total $ $ $ $ U.S. government agencies — 33,077 — 33,077 U.S. agency mortgage-backed securities — 50,191 — 50,191 U.S. agency collateralized mortgage obligations — 35,038 — 35,038 Corporate bonds — 53,909 — 53,909 Obligations of states & political subdivisions — 119,967 — 119,967 Marketable equity securities 5,957 — — 5,957 Total securities 5,957 292,182 — 298,139 Fair Value Measurements: ASSETS MEASURED ON A RECURRING BASIS (DOLLARS IN THOUSANDS) December 31, 2015 Level I Level II Level III Total $ $ $ $ U.S. government agencies — 29,691 — 29,691 U.S. agency mortgage-backed securities — 41,980 — 41,980 U.S. agency collateralized mortgage obligations — 47,331 — 47,331 Corporate bonds — 63,305 — 63,305 Obligations of states & political subdivisions — 101,583 — 101,583 Marketable equity securities 5,533 — — 5,533 Total securities 5,533 283,890 — 289,423 |
Schedule of assets measured on a nonrecurring basis | ASSETS MEASURED ON A NONRECURRING BASIS ( Dollars in Thousands September 30, 2016 Level I Level II Level III Total Assets: Impaired Loans — — 2,072 2,072 Total — — 2,072 2,072 December 31, 2015 Level I Level II Level III Total Assets: Impaired Loans — — 1,705 1,705 Total — — 1,705 1,705 |
Schedule of Level III inputs | QUANTITATIVE INFORMATION ABOUT LEVEL III FAIR VALUE MEASUREMENTS (DOLLARS IN THOUSANDS) September 30, 2016 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 2,072 Appraisal of Appraisal -20% (-20%) collateral (1) adjustments (2) Liquidation -10% (-10%) expenses (2) December 31, 2015 Fair Value Valuation Unobservable Range Estimate Techniques Input (Weighted Avg) Impaired loans 1,705 Appraisal of Appraisal -20% (-20%) collateral (1) adjustments (2) Liquidation -10% (-10%) expenses (2) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. |
Interim Disclosures about Fai18
Interim Disclosures about Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Schedule of carrying amount and fair value of financial instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS (DOLLARS IN THOUSANDS) September 30, 2016 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 49,867 49,867 49,867 — — Securities available for sale 298,139 298,139 5,957 292,182 — Regulatory stock 5,218 5,218 5,218 — — Loans held for sale 4,525 4,525 4,525 — — Loans, net of allowance 558,533 556,457 — — 556,457 Accrued interest receivable 3,148 3,148 3,148 — — Bank owned life insurance 24,489 24,489 24,489 — — Financial Liabilities: Demand deposits 260,873 260,873 260,873 — — Interest-bearing demand deposits 21,799 21,799 21,799 — — NOW accounts 91,719 91,719 91,719 — — Money market deposit accounts 86,096 86,096 86,096 — — Savings accounts 166,904 166,904 166,904 — — Time deposits 165,269 166,851 — — 166,851 Total deposits 792,660 794,242 627,391 — 166,851 Short-term borrowings 12,053 12,053 12,053 — — Long-term debt 63,757 64,379 — — 64,379 Accrued interest payable 415 415 415 — — FAIR VALUE OF FINANCIAL INSTRUMENTS (DOLLARS IN THOUSANDS) December 31, 2015 Quoted Prices in Active Markets Significant Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount Fair Value (Level 1) (Level II) (Level III) $ $ $ $ $ Financial Assets: Cash and cash equivalents 44,227 44,227 44,227 — — Securities available for sale 289,423 289,423 5,533 283,890 — Regulatory stock 4,314 4,314 4,314 — — Loans held for sale 1,126 1,126 1,126 — — Loans, net of allowance 513,205 512,481 — — 512,481 Accrued interest receivable 3,600 3,600 3,600 — — Bank owned life insurance 23,869 23,869 23,869 — — Financial Liabilities: Demand deposits 236,214 236,214 236,214 — — Interest-bearing demand deposits 14,737 14,737 14,737 — — NOW accounts 77,180 77,180 77,180 — — Money market deposit accounts 82,507 82,507 82,507 — — Savings accounts 148,320 148,320 148,320 — — Time deposits 181,104 182,887 — — 182,887 Total deposits 740,062 741,845 558,958 — 182,887 Short-term borrowings 8,736 8,736 8,736 — — Long-term debt 59,594 59,805 — — 59,805 Accrued interest payable 456 456 456 — — |
Accumulated Other Comprehensi19
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of accumulated other comprehensive income | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (1) (2) (DOLLARS IN THOUSANDS) Unrealized Gains (Losses) on Securities Available-for-Sale $ Balance at December 31, 2015 (252 ) Other comprehensive income before reclassifications 1,050 Amount reclassified from accumulated other comprehensive income (480 ) Period change 570 Balance at March 31, 2016 318 Other comprehensive income before reclassifications 2,258 Amount reclassified from accumulated other comprehensive income (620 ) Period change 1,638 Balance at June 30, 2016 1,956 Other comprehensive loss before reclassifications (429 ) Amount reclassified from accumulated other comprehensive loss (306 ) Period change (735 ) Balance at September 30, 2016 1,221 Balance at December 31, 2014 1,002 Other comprehensive income before reclassifications 1,529 Amount reclassified from accumulated other comprehensive income (370 ) Period change 1,159 Balance at March 31, 2015 2,161 Other comprehensive loss before reclassifications (2,246 ) Amount reclassified from accumulated other comprehensive loss (396 ) Period change (2,642 ) Balance at June 30, 2015 (481 ) Other comprehensive income before reclassifications 1,306 Amount reclassified from accumulated other comprehensive income (350 ) Period change 956 Balance at September 30, 2015 475 (1) All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate of 34%. (2) Amounts in parentheses indicate debits. DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1) (DOLLARS IN THOUSANDS) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Three Months Ended September 30, 2016 2015 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings 464 529 Gains on securities transactions, net Related income tax expense (158 ) (179 ) Provision for federal income taxes Net effect on accumulated other comprehensive income for the period 306 350 (1) Amounts in parentheses indicate debits. DETAILS ABOUT ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) COMPONENTS (1) (DOLLARS IN THOUSANDS) Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 2015 Affected Line Item in the $ $ Consolidated Statements of Income Securities available-for-sale: Net securities gains reclassified into earnings 2,130 1,690 Gains on securities transactions, net Related income tax expense (724 ) (574 ) Provision for federal income taxes Net effect on accumulated other comprehensive income for the period 1,406 1,116 (1) Amounts in parentheses indicate debits. |
Securities Available for Sale20
Securities Available for Sale (Narrative) (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016USD ($)N | Dec. 31, 2015USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale debt securities pledged or restricted for public funds, par value | $ 67,271 | $ 60,295 |
Available for sale debt securities pledged or restricted for public funds, fair value | $ 71,066 | 65,137 |
Number of securities considered temporarily impaired | N | 75 | |
Remaining premium to be amortized | $ 385 | |
CoBank [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortization of premium on the bond | $ 479 | |
AgriBank [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortization of premium on the bond | 1,202 | |
Par value of bond owned | $ 6,400 |
Securities Available for Sale21
Securities Available for Sale (Schedule of Amortized Cost and Fair Value of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Securities Available For Sale | |||
Amortized Cost | $ 296,289 | $ 289,805 | |
Gross Unrealized Gains | 2,657 | 1,999 | |
Gross Unrealized Losses | (807) | (2,381) | |
Fair Value | 298,139 | 289,423 | $ 278,470 |
U.S. Government Agencies [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 33,088 | 29,829 | |
Gross Unrealized Gains | 28 | 3 | |
Gross Unrealized Losses | (39) | (141) | |
Fair Value | 33,077 | 29,691 | |
U.S. Agency Mortgage-Backed Securities [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 50,160 | 42,288 | |
Gross Unrealized Gains | 239 | 39 | |
Gross Unrealized Losses | (208) | (347) | |
Fair Value | 50,191 | 41,980 | |
U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 34,940 | 48,140 | |
Gross Unrealized Gains | 139 | 125 | |
Gross Unrealized Losses | (41) | (934) | |
Fair Value | 35,038 | 47,331 | |
Corporate Bonds [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 53,751 | 63,825 | |
Gross Unrealized Gains | 241 | 29 | |
Gross Unrealized Losses | (83) | (549) | |
Fair Value | 53,909 | 63,305 | |
Obligations of States and Political Subdivisions [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 118,515 | 100,208 | |
Gross Unrealized Gains | 1,885 | 1,780 | |
Gross Unrealized Losses | (433) | (405) | |
Fair Value | 119,967 | 101,583 | |
Total Debt Securities [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 290,454 | 284,290 | |
Gross Unrealized Gains | 2,532 | 1,976 | |
Gross Unrealized Losses | (804) | (2,376) | |
Fair Value | 292,182 | 283,890 | |
Marketable equity securities [Member] | |||
Securities Available For Sale | |||
Amortized Cost | 5,835 | 5,515 | |
Gross Unrealized Gains | 125 | 23 | |
Gross Unrealized Losses | (3) | (5) | |
Fair Value | $ 5,957 | $ 5,533 |
Securities Available for Sale22
Securities Available for Sale (Schedule of Contractual Maturity of Debt Securities) (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Contractual maturity of debt securities, Amortized Cost | |
Due in one year or less | $ 20,701 |
Due after one year through five years | 89,220 |
Due after five years through ten years | 68,847 |
Due after ten years | 111,686 |
Total debt securities | 290,454 |
Contractual maturity of debt securities, Fair Value | |
Due in one year or less | 20,755 |
Due after one year through five years | 89,649 |
Due after five years through ten years | 69,021 |
Due after ten years | 112,757 |
Securities available for sale | $ 292,182 |
Securities Available for Sale23
Securities Available for Sale (Schedule of Proceeds and Gains and Losses on Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Proceeds from sales of securities available for sale | ||||
Proceeds from sales | $ 38,592 | $ 46,797 | $ 142,095 | $ 123,335 |
Gross realized gains | 468 | 531 | 2,186 | 1,784 |
Gross realized losses | $ 4 | $ 2 | $ 56 | $ 94 |
Securities Available for Sale24
Securities Available for Sale (Schedule of Securities in an Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value | ||
Less than 12 months | $ 89,758 | $ 148,729 |
More than 12 months | 15,447 | 20,881 |
Total | 105,205 | 169,610 |
Gross Unrealized Losses | ||
Less than 12 months | (547) | (1,957) |
More than 12 months | (260) | (424) |
Total | (807) | (2,381) |
U.S. Government Agencies [Member] | ||
Fair Value | ||
Less than 12 months | 15,955 | 24,968 |
More than 12 months | 1,965 | |
Total | 15,955 | 26,933 |
Gross Unrealized Losses | ||
Less than 12 months | (39) | (106) |
More than 12 months | (35) | |
Total | (39) | (141) |
U.S. Agency Mortgage-Backed Securities [Member] | ||
Fair Value | ||
Less than 12 months | 17,118 | 24,613 |
More than 12 months | 4,246 | 4,827 |
Total | 21,364 | 29,440 |
Gross Unrealized Losses | ||
Less than 12 months | (128) | (235) |
More than 12 months | (80) | (112) |
Total | (208) | (347) |
U.S. Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value | ||
Less than 12 months | 9,492 | 26,563 |
More than 12 months | 4,652 | |
Total | 9,492 | 31,215 |
Gross Unrealized Losses | ||
Less than 12 months | (41) | (827) |
More than 12 months | (107) | |
Total | (41) | (934) |
Corporate Bonds [Member] | ||
Fair Value | ||
Less than 12 months | 18,877 | 50,530 |
More than 12 months | 2,014 | 2,002 |
Total | 20,891 | 52,532 |
Gross Unrealized Losses | ||
Less than 12 months | (78) | (532) |
More than 12 months | (5) | (17) |
Total | (83) | (549) |
Obligations of States and Political Subdivisions [Member] | ||
Fair Value | ||
Less than 12 months | 28,209 | 21,913 |
More than 12 months | 9,187 | 7,435 |
Total | 37,396 | 29,348 |
Gross Unrealized Losses | ||
Less than 12 months | (258) | (252) |
More than 12 months | (175) | (153) |
Total | (433) | (405) |
Total Debt Securities [Member] | ||
Fair Value | ||
Less than 12 months | 89,651 | 148,587 |
More than 12 months | 15,447 | 20,881 |
Total | 105,098 | 169,468 |
Gross Unrealized Losses | ||
Less than 12 months | (544) | (1,952) |
More than 12 months | (260) | (424) |
Total | (804) | (2,376) |
Marketable equity securities [Member] | ||
Fair Value | ||
Less than 12 months | 107 | 142 |
More than 12 months | ||
Total | 107 | 142 |
Gross Unrealized Losses | ||
Less than 12 months | (3) | (5) |
More than 12 months | ||
Total | $ (3) | $ (5) |
Loans and Allowance for Loan 25
Loans and Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Foregone interest income for impaired loans | $ 9 | $ 3 | $ 16 | $ 17 | |||||
Provision (credit) for loan losses | 200 | ||||||||
Charge-offs | 29 | $ 2 | $ 16 | $ 4 | $ 5 | $ 273 | 157 | ||
Loans Serviced for Others [Member] | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Real estate loans serviced for others | $ 59,506 | $ 59,506 | $ 38,024 |
Loans and Allowance for Loan 26
Loans and Allowance for Loan Losses (Schedule of Loan Portfolio by Category) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | ||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | $ 565,073 | $ 519,569 | ||||||||
Deferred loan costs, net | [1] | (895) | (714) | |||||||
Allowance for loan losses | 7,435 | $ 7,247 | $ 7,040 | 7,078 | $ 7,106 | $ 7,249 | $ 7,140 | $ 7,141 | ||
Net loans | 558,533 | 513,205 | 487,933 | |||||||
Commercial Real Estate [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 284,003 | 260,900 | ||||||||
Allowance for loan losses | 3,878 | 3,783 | 3,528 | 3,831 | 4,096 | 4,159 | 4,187 | 3,834 | ||
Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 87,676 | [1] | 87,613 | |||||||
Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 167,531 | [1] | 158,321 | |||||||
Commercial Real Estate [Member] | Construction [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 28,796 | [1] | 14,966 | |||||||
Consumer Real Estate [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 203,854 | [1] | 181,200 | |||||||
Allowance for loan losses | 1,569 | 1,473 | 1,368 | 1,403 | 1,158 | 1,064 | 1,084 | 1,367 | ||
Consumer Real Estate [Member] | Mortgages [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 143,066 | [1] | 133,538 | |||||||
Consumer Real Estate [Member] | Home Equity Loan [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 10,537 | [1] | 10,288 | |||||||
Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 50,251 | [1] | 37,374 | |||||||
Commercial and Industrial [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 72,553 | 73,577 | ||||||||
Allowance for loan losses | 1,352 | 1,261 | 1,373 | 1,314 | 1,205 | 1,390 | 1,224 | 1,301 | ||
Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 41,705 | [1] | 36,189 | |||||||
Commercial and Industrial [Member] | Agricultural Sector [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 19,363 | [1] | 18,305 | |||||||
Commercial and Industrial [Member] | Tax-free loans [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 11,485 | [1] | 19,083 | |||||||
Consumer Portfolio Segment [Member] | ||||||||||
Loan Portfolio | ||||||||||
Gross loans prior to deferred fees | 4,663 | [1] | 3,892 | |||||||
Allowance for loan losses | $ 88 | $ 71 | $ 67 | $ 62 | $ 46 | $ 75 | $ 54 | $ 66 | ||
[1] | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Loans and Allowance for Loan 27
Loans and Allowance for Loan Losses (Schedule of Commercial and Consumer Credit Exposure) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | |
Gross loans prior to deferred fees | $ 565,073 | $ 519,569 | |
Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | 356,556 | 334,477 | |
Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | 284,003 | 260,900 | |
Commercial and Industrial [Member] | |||
Gross loans prior to deferred fees | 72,553 | 73,577 | |
Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 41,705 | [1] | 36,189 |
Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 19,363 | [1] | 18,305 |
Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | 11,485 | [1] | 19,083 |
Pass [Member] | Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | 340,291 | 322,553 | |
Pass [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 37,969 | 35,416 | |
Pass [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 18,262 | 17,860 | |
Pass [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | 11,485 | 19,083 | |
Special Mention [Member] | Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | 5,417 | 1,259 | |
Special Mention [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 294 | ||
Special Mention [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 366 | 125 | |
Special Mention [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | |||
Substandard [Member] | Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | 10,848 | 10,665 | |
Substandard [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 3,442 | 773 | |
Substandard [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 735 | 320 | |
Substandard [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | |||
Doubtful [Member] | Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | |||
Doubtful [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | |||
Doubtful [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | |||
Doubtful [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | |||
Loss [Member] | Commercial Borrower [Member] | |||
Gross loans prior to deferred fees | |||
Loss [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | |||
Loss [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | |||
Loss [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Gross loans prior to deferred fees | |||
Mortgages [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 87,676 | [1] | 87,613 |
Mortgages [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 167,531 | [1] | 158,321 |
Mortgages [Member] | Pass [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 83,351 | 81,865 | |
Mortgages [Member] | Pass [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 161,428 | 154,507 | |
Mortgages [Member] | Special Mention [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 996 | 511 | |
Mortgages [Member] | Special Mention [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 3,761 | 623 | |
Mortgages [Member] | Substandard [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | 3,329 | 5,237 | |
Mortgages [Member] | Substandard [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | 2,342 | 3,191 | |
Mortgages [Member] | Doubtful [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | |||
Mortgages [Member] | Doubtful [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | |||
Mortgages [Member] | Loss [Member] | Commercial Real Estate [Member] | Commercial and Industrial Sector [Member] | |||
Gross loans prior to deferred fees | |||
Mortgages [Member] | Loss [Member] | Commercial Real Estate [Member] | Agricultural Sector [Member] | |||
Gross loans prior to deferred fees | |||
Construction [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | 28,796 | [1] | 14,966 |
Construction [Member] | Pass [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | 27,796 | 13,822 | |
Construction [Member] | Special Mention [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | |||
Construction [Member] | Substandard [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | 1,000 | $ 1,144 | |
Construction [Member] | Doubtful [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | |||
Construction [Member] | Loss [Member] | Commercial Real Estate [Member] | |||
Gross loans prior to deferred fees | |||
[1] | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Loans and Allowance for Loan 28
Loans and Allowance for Loan Losses (Schedule of Credit Risk Profile by Payment Performance) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | |
Gross loans prior to deferred fees | $ 565,073 | $ 519,569 | |
Consumer Borrower [Member] | |||
Gross loans prior to deferred fees | 208,517 | 185,092 | |
Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 203,854 | [1] | 181,200 |
Consumer Portfolio Segment [Member] | |||
Gross loans prior to deferred fees | 4,663 | [1] | 3,892 |
Performing [Member] | Consumer Borrower [Member] | |||
Gross loans prior to deferred fees | 207,959 | 184,714 | |
Performing [Member] | Consumer Portfolio Segment [Member] | |||
Gross loans prior to deferred fees | 4,656 | 3,889 | |
Nonperforming [Member] | Consumer Borrower [Member] | |||
Gross loans prior to deferred fees | 558 | 378 | |
Nonperforming [Member] | Consumer Portfolio Segment [Member] | |||
Gross loans prior to deferred fees | 7 | 3 | |
Mortgages [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 143,066 | [1] | 133,538 |
Mortgages [Member] | Performing [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 142,570 | 133,220 | |
Mortgages [Member] | Nonperforming [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 496 | 318 | |
Home Equity Loan [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 10,537 | [1] | 10,288 |
Home Equity Loan [Member] | Performing [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 10,482 | 10,278 | |
Home Equity Loan [Member] | Nonperforming [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 55 | 10 | |
Home Equity Lines of Credit [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 50,251 | [1] | 37,374 |
Home Equity Lines of Credit [Member] | Performing [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | 50,251 | 37,327 | |
Home Equity Lines of Credit [Member] | Nonperforming [Member] | Consumer Real Estate [Member] | |||
Gross loans prior to deferred fees | $ 47 | ||
[1] | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Loans and Allowance for Loan 29
Loans and Allowance for Loan Losses (Schedule of Aging of Loans Receivable) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 2,304 | $ 2,550 | |
Current | 562,769 | 517,019 | |
Total Loans Receivable | 565,073 | 519,569 | |
Loans Receivable - Greater than 90 Days and Accruing | 666 | 378 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans Receivable | 284,003 | 260,900 | |
Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 936 | 601 | |
Current | 86,740 | 87,012 | |
Total Loans Receivable | 87,676 | [1] | 87,613 |
Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Current | 167,531 | 158,321 | |
Total Loans Receivable | 167,531 | [1] | 158,321 |
Commercial Real Estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Current | 28,796 | 14,966 | |
Total Loans Receivable | 28,796 | [1] | 14,966 |
Consumer Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans Receivable | 203,854 | [1] | 181,200 |
Consumer Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,159 | 1,705 | |
Current | 141,907 | 131,833 | |
Total Loans Receivable | 143,066 | [1] | 133,538 |
Loans Receivable - Greater than 90 Days and Accruing | 496 | 318 | |
Consumer Real Estate [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 101 | 96 | |
Current | 10,436 | 10,192 | |
Total Loans Receivable | 10,537 | [1] | 10,288 |
Loans Receivable - Greater than 90 Days and Accruing | 2 | 10 | |
Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 82 | ||
Current | 50,251 | 37,292 | |
Total Loans Receivable | 50,251 | [1] | 37,374 |
Loans Receivable - Greater than 90 Days and Accruing | 47 | ||
Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Loans Receivable | 72,553 | 73,577 | |
Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 80 | 29 | |
Current | 41,625 | 36,160 | |
Total Loans Receivable | 41,705 | [1] | 36,189 |
Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Current | 19,363 | 18,305 | |
Total Loans Receivable | 19,363 | [1] | 18,305 |
Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Current | 11,485 | 19,083 | |
Total Loans Receivable | 11,485 | [1] | 19,083 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 28 | 37 | |
Current | 4,635 | 3,855 | |
Total Loans Receivable | 4,663 | [1] | 3,892 |
Loans Receivable - Greater than 90 Days and Accruing | 7 | 3 | |
30-59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 877 | 1,363 | |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 350 | ||
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
30-59 Days Past Due [Member] | Consumer Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 465 | 1,264 | |
30-59 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 41 | 27 | |
30-59 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 35 | ||
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 5 | 20 | |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
30-59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 16 | 17 | |
60-89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 208 | 809 | |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 601 | ||
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
60-89 Days Past Due [Member] | Consumer Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 198 | 123 | |
60-89 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 5 | 59 | |
60-89 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 9 | ||
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
60-89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 5 | 17 | |
Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,219 | 378 | |
Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 586 | ||
Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Greater than 90 Days Past Due [Member] | Consumer Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 496 | 318 | |
Greater than 90 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 55 | 10 | |
Greater than 90 Days Past Due [Member] | Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 47 | ||
Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 75 | ||
Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Agricultural Sector [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Greater than 90 Days Past Due [Member] | Commercial and Industrial [Member] | Tax-free loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 7 | $ 3 | |
[1] | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Loans and Allowance for Loan 30
Loans and Allowance for Loan Losses (Schedule of Nonaccrual Loans by Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | $ 805 | $ 380 |
Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 677 | 380 |
Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Commercial Real Estate [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Consumer Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Consumer Real Estate [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 53 | |
Consumer Real Estate [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | 75 | |
Commercial and Industrial [Member] | Agricultural Sector [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Commercial and Industrial [Member] | Tax-free loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans | ||
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual Loans |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Schedule of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Total impaired loans | |||||
Average recorded balance of impaired loans | $ 1,830 | $ 1,820 | $ 1,894 | $ 1,997 | $ 1,957 |
Interest income recognized on impaired loans | $ 14 | $ 23 | $ 42 | $ 68 | $ 86 |
Loans and Allowance for Loan 32
Loans and Allowance for Loan Losses (Schedule of Impaired Loans by Loan Portfolio Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Loans with no related allowance recorded: | |||||
Recorded Investment | $ 2,072 | $ 1,814 | $ 2,072 | $ 1,814 | $ 1,705 |
Unpaid Principal Balance | 2,169 | 2,393 | 2,169 | 2,393 | 2,326 |
Average Recorded Investment | 1,894 | 1,997 | 1,957 | ||
Interest Income Recognized | 42 | 68 | 86 | ||
Total impaired loans | |||||
Recorded Investment | 2,072 | 1,814 | 2,072 | 1,814 | 1,705 |
Unpaid Principal Balance | 2,169 | 2,393 | 2,169 | 2,393 | 2,326 |
Average Recorded Investment | 1,830 | 1,820 | 1,894 | 1,997 | 1,957 |
Interest Income Recognized | 14 | 23 | 42 | 68 | 86 |
Commercial Real Estate [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 1,997 | 1,768 | 1,997 | 1,768 | 1,705 |
Unpaid Principal Balance | 2,094 | 2,340 | 2,094 | 2,340 | 2,277 |
Average Recorded Investment | 1,856 | 1,939 | 1,903 | ||
Interest Income Recognized | 42 | 65 | 83 | ||
Total impaired loans | |||||
Recorded Investment | 1,997 | 1,768 | 1,997 | 1,768 | 1,705 |
Unpaid Principal Balance | 2,094 | 2,340 | 2,094 | 2,340 | 2,277 |
Average Recorded Investment | 1,856 | 1,939 | 1,903 | ||
Interest Income Recognized | 42 | 65 | 83 | ||
Commercial Real Estate [Member] | Mortgages [Member] | Commercial and Industrial Sector [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 730 | 423 | 730 | 423 | 380 |
Unpaid Principal Balance | 827 | 995 | 827 | 995 | 952 |
Average Recorded Investment | 561 | 572 | 544 | ||
Interest Income Recognized | |||||
Total impaired loans | |||||
Recorded Investment | 730 | 423 | 730 | 423 | 380 |
Unpaid Principal Balance | 827 | 995 | 827 | 995 | 952 |
Average Recorded Investment | 561 | 572 | 544 | ||
Interest Income Recognized | |||||
Commercial Real Estate [Member] | Mortgages [Member] | Agricultural Sector [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 1,267 | 1,345 | 1,267 | 1,345 | 1,325 |
Unpaid Principal Balance | 1,267 | 1,345 | 1,267 | 1,345 | 1,325 |
Average Recorded Investment | 1,295 | 1,367 | 1,359 | ||
Interest Income Recognized | 42 | 65 | 83 | ||
Total impaired loans | |||||
Recorded Investment | 1,267 | 1,345 | 1,267 | 1,345 | 1,325 |
Unpaid Principal Balance | 1,267 | 1,345 | 1,267 | 1,345 | 1,325 |
Average Recorded Investment | 1,295 | 1,367 | 1,359 | ||
Interest Income Recognized | 42 | 65 | 83 | ||
Commercial Real Estate [Member] | Construction [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Total impaired loans | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Commercial and Industrial [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 75 | 46 | 75 | 46 | |
Unpaid Principal Balance | 75 | 53 | 75 | 53 | 49 |
Average Recorded Investment | 38 | 58 | 54 | ||
Interest Income Recognized | 3 | 3 | |||
Total impaired loans | |||||
Recorded Investment | 75 | 46 | 75 | 46 | |
Unpaid Principal Balance | 75 | 53 | 75 | 53 | 49 |
Average Recorded Investment | 38 | 58 | 54 | ||
Interest Income Recognized | 3 | 3 | |||
Commercial and Industrial [Member] | Commercial and Industrial Sector [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 75 | 46 | 75 | 46 | |
Unpaid Principal Balance | 75 | 53 | 75 | 53 | 49 |
Average Recorded Investment | 38 | 58 | 54 | ||
Interest Income Recognized | 3 | 3 | |||
Total impaired loans | |||||
Recorded Investment | 75 | 46 | 75 | 46 | |
Unpaid Principal Balance | 75 | $ 53 | 75 | 53 | 49 |
Average Recorded Investment | 38 | 58 | 54 | ||
Interest Income Recognized | $ 3 | $ 3 | |||
Commercial and Industrial [Member] | Agricultural Sector [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Total impaired loans | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Commercial and Industrial [Member] | Tax-free loans [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | |||||
Unpaid Principal Balance | |||||
Total impaired loans | |||||
Recorded Investment | |||||
Unpaid Principal Balance |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses (Schedule of Allowance for Credit Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Dec. 31, 2015 | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | $ 7,247 | $ 7,040 | $ 7,078 | $ 7,249 | $ 7,140 | $ 7,141 | $ 7,078 | |||
Charge-offs | (29) | (2) | (16) | (4) | (5) | (273) | (157) | |||
Recoveries | 17 | 159 | 28 | 11 | 14 | 72 | ||||
Provision | 200 | 50 | (50) | (150) | 100 | 200 | ||||
Allowance for loan losses, ending balance | 7,435 | 7,247 | 7,040 | 7,106 | 7,249 | 7,140 | 7,435 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | 7,435 | 7,435 | 7,078 | |||||||
Loans receivable ending balance: | ||||||||||
Individually evaluated for impairment | 565,073 | 565,073 | 1,705 | |||||||
Collectively evaluated for impairment | 2,072 | 2,072 | 517,864 | |||||||
Total Loans Receivable | 565,073 | 565,073 | 519,569 | |||||||
Commercial Real Estate [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | 3,783 | 3,528 | 3,831 | 4,159 | 4,187 | 3,834 | 3,831 | |||
Charge-offs | (272) | |||||||||
Recoveries | 1 | 2 | ||||||||
Provision | 95 | 255 | (303) | (63) | (29) | 623 | ||||
Allowance for loan losses, ending balance | 3,878 | 3,783 | 3,528 | 4,096 | 4,159 | 4,187 | 3,878 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | 3,878 | 3,878 | 3,831 | |||||||
Loans receivable ending balance: | ||||||||||
Individually evaluated for impairment | 284,003 | 284,003 | 1,705 | |||||||
Collectively evaluated for impairment | 1,997 | 1,997 | 259,195 | |||||||
Total Loans Receivable | 284,003 | 284,003 | 260,900 | |||||||
Consumer Real Estate [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | 1,473 | 1,368 | 1,403 | 1,064 | 1,084 | 1,367 | 1,403 | |||
Charge-offs | ||||||||||
Recoveries | 1 | 10 | ||||||||
Provision | 95 | 105 | (45) | 94 | (20) | (283) | ||||
Allowance for loan losses, ending balance | 1,569 | 1,473 | 1,368 | 1,158 | 1,064 | 1,084 | 1,569 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | 1,569 | 1,569 | 1,403 | |||||||
Loans receivable ending balance: | ||||||||||
Individually evaluated for impairment | 203,854 | 203,854 | ||||||||
Collectively evaluated for impairment | 181,200 | |||||||||
Total Loans Receivable | 203,854 | [1] | 203,854 | [1] | 181,200 | |||||
Commercial and Industrial [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | 1,261 | 1,373 | 1,314 | 1,390 | 1,224 | 1,301 | 1,314 | |||
Charge-offs | (19) | (4) | (2) | |||||||
Recoveries | 9 | 159 | 16 | 10 | 11 | 70 | ||||
Provision | 101 | (271) | 47 | (195) | 157 | (147) | ||||
Allowance for loan losses, ending balance | 1,352 | 1,261 | 1,373 | 1,205 | 1,390 | 1,224 | 1,352 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | 1,352 | 1,352 | 1,314 | |||||||
Loans receivable ending balance: | ||||||||||
Individually evaluated for impairment | 72,553 | 72,553 | ||||||||
Collectively evaluated for impairment | 75 | 75 | 73,577 | |||||||
Total Loans Receivable | 72,553 | 72,553 | 73,577 | |||||||
Consumer Portfolio Segment [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | 71 | 67 | 62 | 75 | 54 | 66 | 62 | |||
Charge-offs | (10) | (2) | (12) | (4) | (3) | (1) | ||||
Recoveries | 7 | 2 | 1 | 2 | ||||||
Provision | 20 | 6 | 15 | (26) | 22 | (11) | ||||
Allowance for loan losses, ending balance | 88 | 71 | 67 | 46 | 75 | 54 | 88 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | 88 | 88 | 62 | |||||||
Loans receivable ending balance: | ||||||||||
Individually evaluated for impairment | 4,663 | 4,663 | ||||||||
Collectively evaluated for impairment | 3,892 | |||||||||
Total Loans Receivable | 4,663 | [1] | 4,663 | [1] | 3,892 | |||||
Unallocated [Member] | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for loan losses. beginning balance | 659 | 704 | 468 | 561 | 591 | 573 | 468 | |||
Charge-offs | ||||||||||
Recoveries | ||||||||||
Provision | (111) | (45) | 236 | 40 | (30) | 18 | ||||
Allowance for loan losses, ending balance | 548 | $ 659 | $ 704 | $ 601 | $ 561 | $ 591 | 548 | |||
Allowance for credit losses: Ending balance | ||||||||||
Individually evaluated for impairment | ||||||||||
Collectively evaluated for impairment | $ 548 | $ 548 | $ 468 | |||||||
[1] | Real estate loans serviced for others, which are not included in the Consolidated Balance Sheets, totaled $59,506,000 and $38,024,000 as of September 30, 2016, and December 31, 2015, respectively. |
Fair Value Presentation (Narrat
Fair Value Presentation (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 2,072 | $ 1,705 | $ 1,814 |
CRA Investment Fund [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable equity securities, book value | 5,000 | 5,000 | |
CRA Investment Fund [Member] | Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable equity securities, market value | 5,000 | 5,000 | |
Regulatory Bank Stock [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable equity securities, book value | 835 | 515 | |
Regulatory Bank Stock [Member] | Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable equity securities, book value | $ 957 | $ 533 |
Fair Value Presentation (Schedu
Fair Value Presentation (Schedule of Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | $ 298,139 | $ 289,423 | $ 278,470 |
U.S. Government Agencies [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 33,077 | 29,691 | |
U.S. Agency Mortgage-Backed Securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 50,191 | 41,980 | |
U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 35,038 | 47,331 | |
Corporate Bonds [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 53,909 | 63,305 | |
Obligations of States and Political Subdivisions [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 119,967 | 101,583 | |
Marketable equity securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 5,957 | 5,533 | |
Fair Value Measured on a Recurring Basis [Member] | U.S. Government Agencies [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 33,077 | 29,691 | |
Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Mortgage-Backed Securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 50,191 | 41,980 | |
Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 35,038 | 47,331 | |
Fair Value Measured on a Recurring Basis [Member] | Corporate Bonds [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 53,909 | 63,305 | |
Fair Value Measured on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 119,967 | 101,583 | |
Fair Value Measured on a Recurring Basis [Member] | Marketable equity securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 5,957 | 5,533 | |
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 5,957 | 5,533 | |
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Government Agencies [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Mortgage-Backed Securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | Corporate Bonds [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | Fair Value Measured on a Recurring Basis [Member] | Marketable equity securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 5,957 | 5,533 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 292,182 | 283,890 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Government Agencies [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 33,077 | 29,691 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Mortgage-Backed Securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 50,191 | 41,980 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 35,038 | 47,331 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | Corporate Bonds [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 53,909 | 63,305 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | 119,967 | 101,583 | |
Significant Other Observable Inputs (Level II) [Member] | Fair Value Measured on a Recurring Basis [Member] | Marketable equity securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Government Agencies [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Mortgage-Backed Securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | U.S. Agency Collateralized Mortgage Obligations [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | Corporate Bonds [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) | |||
Significant Unobservable Inputs (Level III) [Member] | Fair Value Measured on a Recurring Basis [Member] | Marketable equity securities [Member] | |||
Recurring Fair Value Measurements | |||
Securities available for sale (at fair value) |
Fair Value Presentation (Sche36
Fair Value Presentation (Schedule of Assets Measured on Nonrecurring Basis) (Details) - Fair Value Measured on a Nonrecurring Basis [Member] - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Non-Recurring Fair Value Measurements | ||
Impaired Loans | $ 2,072 | $ 1,705 |
Total Fair Value, non-recurring | 2,072 | 1,705 |
Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | ||
Non-Recurring Fair Value Measurements | ||
Impaired Loans | ||
Total Fair Value, non-recurring | ||
Significant Other Observable Inputs (Level II) [Member] | ||
Non-Recurring Fair Value Measurements | ||
Impaired Loans | ||
Total Fair Value, non-recurring | ||
Significant Unobservable Inputs (Level III) [Member] | ||
Non-Recurring Fair Value Measurements | ||
Impaired Loans | 2,072 | 1,705 |
Total Fair Value, non-recurring | $ 2,072 | $ 1,705 |
Fair Value Presentation (Sche37
Fair Value Presentation (Schedule of Level III Inputs to Determine Fair Value) (Details) - Impaired Loans [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Total Fair Value, non-recurring | $ 2,072 | $ 1,705 |
Valuation Techniques | Appraisal of collateral | Appraisal of collateral |
Unobservable inputs - Appraisal adjustments | (20.00%) | (20.00%) |
Unobservable inputs - Liquidation expenses | (10.00%) | (10.00%) |
Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Unobservable inputs - Appraisal adjustments | (20.00%) | (20.00%) |
Unobservable inputs - Liquidation expenses | (10.00%) | (10.00%) |
Interim Disclosures about Fai38
Interim Disclosures about Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||||
Cash and cash equivalents | $ 49,867 | $ 44,227 | $ 39,807 | $ 43,412 |
Securities available for sale | 298,139 | 289,423 | 278,470 | |
Regulatory stock | 5,218 | 4,314 | 4,296 | |
Loans, net of allowance | 558,533 | 513,205 | 487,933 | |
Bank owned life insurance | 24,489 | 23,869 | 23,659 | |
Financial Liabilities: | ||||
Demand deposits | 260,873 | 236,214 | 208,678 | |
Total deposits | 792,660 | 740,062 | 692,689 | |
Short-term borrowings | 12,053 | 8,736 | 9,951 | |
Long-term debt | 63,757 | 59,594 | $ 64,594 | |
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | 49,867 | 44,227 | ||
Securities available for sale | 298,139 | 289,423 | ||
Regulatory stock | 5,218 | 4,314 | ||
Loans held for sale | 4,525 | 1,126 | ||
Loans, net of allowance | 558,533 | 513,205 | ||
Accrued interest receivable | 3,148 | 3,600 | ||
Bank owned life insurance | 24,489 | 23,869 | ||
Financial Liabilities: | ||||
Demand deposits | 260,873 | 236,214 | ||
Interest-bearing demand deposits | 21,799 | 14,737 | ||
NOW accounts | 91,719 | 77,180 | ||
Money market deposit accounts | 86,096 | 82,507 | ||
Savings accounts | 166,904 | 148,320 | ||
Time deposits | 165,269 | 181,104 | ||
Total deposits | 792,660 | 740,062 | ||
Short-term borrowings | 12,053 | 8,736 | ||
Long-term debt | 63,757 | 59,594 | ||
Accrued interest payable | 415 | 456 | ||
Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | 49,867 | 44,227 | ||
Securities available for sale | 298,139 | 289,423 | ||
Regulatory stock | 5,218 | 4,314 | ||
Loans held for sale | 4,525 | 1,126 | ||
Loans, net of allowance | 556,457 | 512,481 | ||
Accrued interest receivable | 3,148 | 3,600 | ||
Bank owned life insurance | 24,489 | 23,869 | ||
Financial Liabilities: | ||||
Demand deposits | 260,873 | 236,214 | ||
Interest-bearing demand deposits | 21,799 | 14,737 | ||
NOW accounts | 91,719 | 77,180 | ||
Money market deposit accounts | 86,096 | 82,507 | ||
Savings accounts | 166,904 | 148,320 | ||
Time deposits | 166,851 | 182,887 | ||
Total deposits | 794,242 | 741,845 | ||
Short-term borrowings | 12,053 | 8,736 | ||
Long-term debt | 64,379 | 59,805 | ||
Accrued interest payable | 415 | 456 | ||
Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level I) [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | 49,867 | 44,227 | ||
Securities available for sale | 5,957 | 5,533 | ||
Regulatory stock | 5,218 | 4,314 | ||
Loans held for sale | 4,525 | 1,126 | ||
Loans, net of allowance | ||||
Accrued interest receivable | 3,148 | 3,600 | ||
Bank owned life insurance | 24,489 | 23,869 | ||
Financial Liabilities: | ||||
Demand deposits | 260,873 | 236,214 | ||
Interest-bearing demand deposits | 21,799 | 14,737 | ||
NOW accounts | 91,719 | 77,180 | ||
Money market deposit accounts | 86,096 | 82,507 | ||
Savings accounts | 166,904 | 148,320 | ||
Time deposits | ||||
Total deposits | 627,391 | 558,958 | ||
Short-term borrowings | 12,053 | 8,736 | ||
Long-term debt | ||||
Accrued interest payable | 415 | 456 | ||
Fair Value [Member] | Significant Other Observable Inputs (Level II) [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | ||||
Securities available for sale | 292,182 | 283,890 | ||
Regulatory stock | ||||
Loans held for sale | ||||
Loans, net of allowance | ||||
Accrued interest receivable | ||||
Bank owned life insurance | ||||
Financial Liabilities: | ||||
Demand deposits | ||||
Interest-bearing demand deposits | ||||
NOW accounts | ||||
Money market deposit accounts | ||||
Savings accounts | ||||
Time deposits | ||||
Total deposits | ||||
Short-term borrowings | ||||
Long-term debt | ||||
Accrued interest payable | ||||
Fair Value [Member] | Significant Unobservable Inputs (Level III) [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents | ||||
Securities available for sale | ||||
Regulatory stock | ||||
Loans held for sale | ||||
Loans, net of allowance | 556,457 | 512,481 | ||
Accrued interest receivable | ||||
Bank owned life insurance | ||||
Financial Liabilities: | ||||
Demand deposits | ||||
Interest-bearing demand deposits | ||||
NOW accounts | ||||
Money market deposit accounts | ||||
Savings accounts | ||||
Time deposits | 166,851 | 182,887 | ||
Total deposits | 166,851 | 182,887 | ||
Short-term borrowings | ||||
Long-term debt | 64,379 | 59,805 | ||
Accrued interest payable |
Commitments and Contingent Li39
Commitments and Contingent Liabilities (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Commitment to extend credit | $ 228,400 |
Loan Commitments [Member] | |
Commitment to extend credit | 39,300 |
Line of Credit [Member] | |
Commitment to extend credit | 178,700 |
Letter of Credit [Member] | |
Commitment to extend credit | $ 10,400 |
Accumulated Other Comprehensi40
Accumulated Other Comprehensive Income (Loss) (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | $ 95,102 | $ 95,102 | ||||||
Other comprehensive income (loss), net of tax | $ (735) | $ 956 | 1,473 | $ (527) | ||||
Ending balance | 99,953 | 94,763 | 99,953 | 94,763 | ||||
Unrealized Gains (Losses) on Securities Available-for-Sale [Member] | ||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
Beginning balance | 1,956 | $ 318 | (252) | (481) | $ 2,161 | $ 1,002 | (252) | 1,002 |
Other comprehensive income (loss) before reclassifications | (429) | 2,258 | 1,050 | 1,306 | (2,246) | 1,529 | ||
Amount reclassified from accumulated other comprehensive income (loss) | (306) | (620) | (480) | (350) | (396) | (370) | ||
Period change | (735) | 1,638 | 570 | 956 | (2,642) | 1,159 | ||
Ending balance | $ 1,221 | $ 1,956 | $ 318 | $ 475 | $ (481) | $ 2,161 | $ 1,221 | $ 475 |
Federal income tax rate | 34.00% |
Accumulated Other Comprehensi41
Accumulated Other Comprehensive Income (Loss) (Schedule of Amounts Reclassified from AOCI) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on securities transactions, net | $ 464 | $ 529 | $ 2,130 | $ 1,690 |
Provision for federal income taxes | (445) | (382) | (1,045) | (903) |
Reclassifications for the period | 2,077 | 1,853 | 5,633 | 4,915 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Securities Available-for-Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on securities transactions, net | 464 | 529 | 2,130 | 1,690 |
Provision for federal income taxes | (158) | (179) | (724) | (574) |
Reclassifications for the period | $ 306 | $ 350 | $ 1,406 | $ 1,116 |