Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 9-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'Embassy Bancorp, Inc. | ' |
Entity Central Index Key | '0001449794 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 7,333,764 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $17,157 | $14,148 |
Interest bearing demand deposits with banks | 10,426 | 2,683 |
Federal funds sold | 1,000 | 1,000 |
Cash and Cash Equivalents | 28,583 | 17,831 |
Interest bearing time deposits | 1,826 | 1,822 |
Securities available for sale | 83,399 | 71,288 |
Restricted investment in bank stock | 1,275 | 2,157 |
Loans receivable, net of allowance for loan losses of $5,374 in 2014; $5,326 in 2013 | 572,676 | 563,257 |
Premises and equipment, net of accumulated depreciation | 1,785 | 1,882 |
Bank owned life insurance | 7,697 | 7,630 |
Accrued interest receivable | 1,524 | 1,533 |
Other real estate owned | 592 | 659 |
Other assets | 3,359 | 2,776 |
Total Assets | 702,716 | 670,835 |
Liabilities: | ' | ' |
Deposits: Non-interest bearing | 60,987 | 58,705 |
Deposits: Interest bearing | 548,187 | 510,332 |
Total deposits | 609,174 | 569,037 |
Securities sold under agreements to repurchase | 30,388 | 30,418 |
Short-term borrowings | ' | 10,000 |
Long-term borrowings | 3,650 | 3,900 |
Accrued interest payable | 268 | 235 |
Other liabilities | 3,345 | 3,190 |
Total Liabilities | 646,825 | 616,780 |
Stockholders' Equity: | ' | ' |
Common stock, $1 par value; authorized 20,000,000 shares; 2014 issued 7,333,764 shares; outstanding 7,333,764 shares; 2013 issued 7,323,555 shares; outstanding 7,323,555 shares | 7,334 | 7,324 |
Surplus | 23,762 | 23,671 |
Retained earnings | 23,992 | 22,520 |
Accumulated other comprehensive income | 803 | 540 |
Total Stockholders' Equity | 55,891 | 54,055 |
Total Liabilities and Stockholders' Equity | $702,716 | $670,835 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Loans and Leases Receivable, Allowance | $5,374 | $5,326 |
Common Stock, Par or Stated Value Per Share | $1 | $1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,333,764 | 7,323,555 |
Common Stock, Shares, Outstanding | 7,333,764 | 7,323,555 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
INTEREST INCOME | ' | ' |
Loans receivable, including fees | $5,784 | $5,486 |
Securities, taxable | 196 | 222 |
Securities, non-taxable | 283 | 289 |
Federal funds sold, and other | 19 | 5 |
Interest on time deposits | 4 | 14 |
Total Interest Income | 6,286 | 6,016 |
INTEREST EXPENSE | ' | ' |
Deposits | 642 | 624 |
Securities sold under agreements to repurchase and federal funds purchased | 4 | 5 |
Short-term borrowings | 2 | ' |
Long-term borrowings | 73 | 164 |
Total Interest Expense | 721 | 793 |
Net Interest Income | 5,565 | 5,223 |
PROVISION FOR LOAN LOSSES | 105 | 280 |
Net Interest Income after Provision for Loan Losses | 5,460 | 4,943 |
OTHER INCOME | ' | ' |
Credit card processing fees | 333 | 322 |
Other service fees | 151 | 128 |
Bank owned life insurance | 67 | 49 |
Gain on sale of securities, net | 31 | ' |
Profit on sale of other real estate owned | 6 | 4 |
Impairment on other real estate owned | -9 | -6 |
Total Other Income | 579 | 497 |
OTHER EXPENSES | ' | ' |
Salaries and employee benefits | 1,796 | 1,703 |
Occupancy and equipment | 629 | 591 |
Data processing | 305 | 305 |
Credit card processing | 301 | 285 |
Advertising and promotion | 250 | 221 |
Professional fees | 120 | 126 |
FDIC insurance | 100 | 104 |
Insurance | 13 | 14 |
Loan & real estate | 61 | 50 |
Charitable contributions | 194 | 160 |
Other real estate owned expenses | 7 | 23 |
Other | 215 | 243 |
Total Other Expenses | 3,991 | 3,825 |
Income before Income Taxes | 2,048 | 1,615 |
INCOME TAX EXPENSE | 576 | 437 |
Net Income | $1,472 | $1,178 |
BASIC EARNING PER SHARE | $0.20 | $0.16 |
DILUTED EARNINGS PER SHARE | $0.20 | $0.16 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ||
Net Income | $1,472 | $1,178 | ||
Other Comprehensive Income (Loss): | ' | ' | ||
Unrealized holding gain (loss) on securities available for sale | 430 | -68 | ||
Reclassification adjustment for realized gains | -31 | [1],[2] | ' | [1],[2] |
Total other comprehensive income (loss): Before Tax | 399 | -68 | ||
Income tax effect | -136 | 23 | ||
Net unrealized gain (loss) | 263 | -45 | ||
Other comprehensive gain (loss), net of tax | 263 | -45 | ||
Comprehensive Income | $1,735 | $1,133 | ||
[1] | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. | |||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Total |
In Thousands | |||||
BALANCE- at Dec. 31, 2012 | $7,239 | $23,146 | $17,360 | $2,282 | $50,027 |
Net income | ' | ' | 1,178 | ' | 1,178 |
Other comprehensive income (loss) | ' | ' | ' | -45 | -45 |
Compensation expense recognized on stock options | ' | 13 | ' | ' | 13 |
Common stock grants to directors | 9 | 53 | ' | ' | 62 |
BALANCE- at Mar. 31, 2013 | 7,248 | 23,212 | 18,538 | 2,237 | 51,235 |
BALANCE- at Dec. 31, 2013 | 7,324 | 23,671 | 22,520 | 540 | 54,055 |
Net income | ' | ' | 1,472 | ' | 1,472 |
Other comprehensive income (loss) | ' | ' | ' | 263 | 263 |
Compensation expense recognized on stock options | ' | 24 | ' | ' | 24 |
Common stock grants to directors | 10 | 67 | ' | ' | 77 |
BALANCE- at Mar. 31, 2014 | $7,334 | $23,762 | $23,992 | $803 | $55,891 |
Consolidated_Statements_Of_Sto1
Consolidated Statements Of Stockholders' Equity (Parenthetical) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Consolidated Statements Of Stockholders' Equity [Abstract] | ' | ' |
Common stock grants to directors, shares | 10,209 | 8,764 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $1,472 | $1,178 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 105 | 280 |
Accretion of deferred loan costs | -1 | -15 |
Depreciation and amortization | 173 | 156 |
Net amortization of investment security premiums and discounts | 42 | 95 |
Stock compensation expense | 24 | 13 |
Gain on sale of other real estate owned | -6 | -4 |
Impairment on other real estate owned | 9 | 6 |
Income on bank owned life insurance | -67 | -49 |
Net realized gain on sale of securities available for sale | -31 | ' |
Decrease (increase) in accrued interest receivable | 9 | -59 |
Increase in other assets | -719 | -527 |
Increase (decrease) in accrued interest payable | 33 | -21 |
Increase (decrease) in other liabilities | 238 | -397 |
Net Cash Provided by Operating Activities | 1,281 | 656 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Purchases of securities available for sale | -12,796 | ' |
Maturities, calls and principal repayments of securities available for sale | 545 | 5,007 |
Proceeds from sales of securities available for sale | 528 | ' |
Net increase in loans | -9,465 | -15,374 |
Net redemption of restricted investment in bank stock | 882 | ' |
Net (purchases) maturities of interest bearing time deposits | -4 | 1,811 |
Proceeds from sale of other real estate owned | ' | 319 |
Purchases of premises and equipment | -76 | -36 |
Net Cash Used in Investing Activities | -20,386 | -8,273 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Net increase (decrease) in deposits | 40,137 | -10,981 |
Net (increase) decrease in securities sold under agreements to repurchase and federal funds purchased | -30 | 3,063 |
Decrease in short-term borrowed funds | -10,000 | ' |
Payment of long-term borrowed funds | -250 | -200 |
Net Cash Provided by (Used in) Financing Activities | 29,857 | -8,118 |
Net Increase (Decrease) in Cash and Cash Equivalents | 10,752 | -15,735 |
CASH AND CASH EQUIVALENTS - BEGINNING | 17,831 | 29,940 |
CASH AND CASH EQUIVALENTS - ENDING | 28,583 | 14,205 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ' | ' |
Interest paid | 688 | 814 |
Income taxes paid | 780 | 950 |
Other real estate sold through bank financing | 58 | 439 |
Deferral of gain from sale of other real estate sold through bank financing | 91 | 116 |
Other real estate acquired in settlement of loans | ' | ' |
Basis_Of_Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2014 | |
Basis Of Presentation [Abstract] | ' |
Basis Of Presentation | ' |
Note 1 – Basis of Presentation | |
Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. | |
The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. | |
The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. | |
The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2013, included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 28, 2014. | |
In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after March 31, 2014 through the date these consolidated financial statements were issued. | |
Certain amounts in the 2013 financial statements may have been reclassified to conform to 2014 presentation. These reclassifications had no effect on 2013 net income. | |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Summary Of Significant Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
Note 2 - Summary of Significant Accounting Policies | |
The significant accounting policies of the Company as applied in the interim financial statements presented are substantially the same as those followed on an annual basis as presented in the Company’s Form 10-K for the year ended December 31, 2013. | |
Stockholders_Equity
Stockholders Equity | 3 Months Ended |
Mar. 31, 2014 | |
Stockholders' Equity [Abstract] | ' |
Stockholders' Equity | ' |
Note 3 – Stockholders’ Equity | |
On November 11, 2008, the Company consummated its acquisition of Embassy Bank For The Lehigh Valley pursuant to a Plan of Merger and Reorganization dated April 18, 2008, pursuant to which the Bank was reorganized into a bank holding company structure. At the effective time of the reorganization, each share of common stock of Embassy Bank For The Lehigh Valley issued and outstanding was automatically converted into one share of Company common stock. The issuance of Company common stock in connection with the reorganization was exempt from registration pursuant to Section 3(a)(12) of the Securities Act of 1933, as amended. | |
Stock_Incentive_Plan
Stock Incentive Plan | 3 Months Ended |
Mar. 31, 2014 | |
Stock Incentive Plan [Abstract] | ' |
Stock Incentive Plan | ' |
Note 4 – Stock Incentive Plan | |
At the Company’s annual meeting on June 16, 2010, the shareholders approved the Embassy Bancorp, Inc. 2010 Stock Incentive Plan (the “SIP”). The SIP authorizes the Board of Directors, or a committee authorized by the Board of Directors, to award a stock based incentive to (i) designated officers (including officers who are directors) and other designated employees at the Company and its subsidiaries, and (ii) non-employee members of the Board of Directors and advisors and consultants to the Company and its subsidiaries. The Board of Directors believes that the SIP will encourage the designated participants to contribute materially to the growth of the Company. The SIP provides for stock based incentives in the form of incentive stock options as provided in Section 422 of the Internal Revenue Code of 1986, non-qualified stock options, stock appreciation rights, restricted stock and deferred stock awards. The term of the option, the amount of time for the option to vest after grant, if any, and other terms and limitations will be determined at the time of grant. Options granted under the SIP may not have an exercise period that is more than ten years from the time the option is granted. | |
At inception, the aggregate number of shares available for issuance under the SIP was 500,000. The SIP provides for appropriate adjustments in the number and kind of shares available for grant or subject to outstanding awards under the SIP to avoid dilution in the event of merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 15, 2020. There were no awards granted under the SIP for the years ended December 31, 2011 and 2010. In January 2014, February 2013 and February 2012, the Company granted 10,209, 8,764 and 7,992 shares of restricted stock, respectively, to certain members of its Board of Directors as compensation for their service in 2013, 2012 and 2011, respectively, in accordance with the Company’s Non-employee Directors Compensation program adopted in October of 2010. Such compensation was accrued for as of December 31, 2013, 2012 and 2011. In January 2014, February 2013 and February 2012, the Company also granted stock options to purchase 29,663, 29,742 and 52,611 shares of stock, respectively to certain executive officers in accordance with their respective employment agreements. Stock compensation expense related to these options was $24 thousand and $13 thousand for the three months ended March 31, 2014 and 2013, respectively. At March 31, 2014, approximately $147 thousand unrecognized cost related to stock options granted in 2014, 2013 and 2012 will be recognized over the next 2.80, 1.90 and 0.90 years, respectively. The fair value of the options granted in 2014, 2013 and 2012 was determined with the following weighted average assumptions: dividend yield of 0%, risk free interest rate of 2.30%, 1.34% and 1.43%, respectively, expected life of 6.0 years, 6.0 years and 7.5 years, respectively, and expected volatility of 28.93%, 28.79% and 31.10%, respectively. The weighted average fair value of options granted in 2014, 2013 and 2012 was $2.46 per share, $2.14 per share and $2.56 per share, respectively. At March 31, 2014, there were 361,019 shares available for issuance under the SIP. | |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||||
Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||
Note 5 – Other Comprehensive Income (Loss) | |||||||||||||||||||||||
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). | |||||||||||||||||||||||
The components of other comprehensive income (loss), both before tax and net of tax, are as follows: | |||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Before | Tax | Net of | Before | Tax | Net of | ||||||||||||||||||
Tax | Effect | Tax | Tax | Effect | Tax | ||||||||||||||||||
Other comprehensive (loss) income: | |||||||||||||||||||||||
Unrealized holding (losses) gains on securities | |||||||||||||||||||||||
available for sale | $ | 430 | $ | -146 | $ | 284 | $ | -68 | $ | 23 | $ | -45 | |||||||||||
Reclassification adjustments for | |||||||||||||||||||||||
gains on securities transactions included | |||||||||||||||||||||||
in net income (A),(B) | -31 | 10 | -21 | - | - | - | |||||||||||||||||
Total other comprehensive income (loss) | $ | 399 | $ | -136 | $ | 263 | $ | -68 | $ | 23 | $ | -45 | |||||||||||
(A) | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying | ||||||||||||||||||||||
Consolidated Statements of Income. | |||||||||||||||||||||||
(B) | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. | ||||||||||||||||||||||
A summary of the realized gains on securities available for sale, net of tax, is as follows: | |||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||
Realized gains on | |||||||||||||||||||||||
securities transactions | $ | -31 | $ | - | |||||||||||||||||||
Income taxes | 10 | - | |||||||||||||||||||||
Net of tax | $ | -21 | $ | - | |||||||||||||||||||
A summary of the accumulated other comprehensive income, net of tax, is as follows: | |||||||||||||||||||||||
Securities | |||||||||||||||||||||||
Available | |||||||||||||||||||||||
for Sale | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||
Balance January 1, 2014 | $ | 540 | |||||||||||||||||||||
Other comprehensive income before reclassifications | 284 | ||||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||
comprehensive income | -21 | ||||||||||||||||||||||
Net other comprehensive income during the period | 263 | ||||||||||||||||||||||
Balance March 31, 2014 | $ | 803 | |||||||||||||||||||||
Balance January 1, 2013 | $ | 2,282 | |||||||||||||||||||||
Other comprehensive loss before reclassifications | -45 | ||||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||
comprehensive income | - | ||||||||||||||||||||||
Net other comprehensive loss during the period | -45 | ||||||||||||||||||||||
Balance March 31, 2013 | $ | 2,237 | |||||||||||||||||||||
Basic_And_Diluted_Earnings_Per
Basic And Diluted Earnings Per Share | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Basic And Diluted Earnings Per Share [Abstract] | ' | |||||||||
Basic And Diluted Earnings Per Share | ' | |||||||||
Note 6 – Basic and Diluted Earnings per Share | ||||||||||
Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period, as adjusted for stock dividends and splits. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. | ||||||||||
Three Months Ended March 31, | ||||||||||
2014 | 2013 | |||||||||
Net income | $ | 1,472 | $ | 1,178 | ||||||
Weighted average shares outstanding | 7,331,495 | 7,242,231 | ||||||||
Dilutive effect of potential common shares, stock options | 396 | 4,780 | ||||||||
Diluted weighted average common shares outstanding | 7,331,891 | 7,247,011 | ||||||||
Basic earnings per share | $ | 0.20 | $ | 0.16 | ||||||
Diluted earnings per share | $ | 0.20 | $ | 0.16 | ||||||
Stock options of 124,494 and 149,692 for the three months ended March 31, 2014 and 2013, respectively, were not considered in computing diluted earnings per common share because they are not dilutive to earnings. | ||||||||||
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2014 | |
Guarantees [Abstract] | ' |
Guarantees | ' |
Note 7 – Guarantees | |
The Company, through the Bank, does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Bank generally holds collateral and/or personal guarantees supporting these commitments. The Company had $5.1 million of standby letters of credit outstanding as of March 31, 2014. The approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was $4.6 million. Management does not consider the current amount of the liability as of March 31, 2014 for guarantees under standby letters of credit issued to be material. | |
ShortTerm_And_LongTerm_Borrowi
Short-Term And Long-Term Borrowings | 3 Months Ended |
Mar. 31, 2014 | |
Short-Term And Long-Term Borrowings [Abstract] | ' |
Short-Term And Long-Term Borrowings | ' |
Note 8 – Short-term and Long-term Borrowings | |
Securities sold under agreements to repurchase, federal funds purchased and Federal Home Loan Bank of Pittsburgh (“FHLB”) short term advances generally represent overnight or less than twelve month borrowings. Long term advances from the FHLB are for periods of twelve months or more and are generally less than sixty months. The Bank has an agreement with the FHLB which allows for borrowings up to a percentage of qualifying assets. At March 31, 2014, the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $335.5 million, none of which was outstanding in short-term or long-term advances. This borrowing capacity with the FHLB includes a line of credit of $25.0 million. Short-term loans with FHLB of $10 million were outstanding at December 31, 2013, and no long-term advances were outstanding at December 31, 2013. All FHLB borrowings are secured by qualifying assets of the Bank. | |
The Bank has a federal funds line of credit with the Atlantic Central Bankers Bank (“ACBB”) of approximately $6.0 million, of which none was outstanding at March 31, 2014 and December 31, 2013. Advances from this line are unsecured. | |
The Company has two lines of credit with Univest Bank and Trust Co. (“Univest”) totaling $10 million. As of March 31, 2014 and December 31, 2013, the outstanding balance was $3.7 million and $3.9 million, respectively. Advances from these lines of credit are secured by 833,333 shares of Bank common stock. Under the terms of the loan agreement, the Bank is required to remain well capitalized. The proceeds of the loan were primarily used for the holding company’s investment in the Bank, thus providing additional capital to support the Bank’s growth. | |
Securities_Available_For_Sale
Securities Available For Sale | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Securities Avaliable For Sale [Abstract] | ' | |||||||||||||||||
Securities Available For Sale | ' | |||||||||||||||||
Note 9 – Securities Available For Sale | ||||||||||||||||||
At March 31, 2014 and December 31, 2013, respectively, the amortized cost and approximate fair values of securities available-for-sale were as follows: | ||||||||||||||||||
Gross | Gross | |||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 32,254 | $ | 95 | $ | -253 | $ | 32,096 | ||||||||||
Municipal bonds | 39,415 | 1,170 | -145 | 40,440 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | 8,515 | 329 | - | 8,844 | ||||||||||||||
Corporate bonds | 1,998 | 21 | - | 2,019 | ||||||||||||||
Total | $ | 82,182 | $ | 1,615 | $ | -398 | $ | 83,399 | ||||||||||
December 31, 2013 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 27,191 | $ | 118 | $ | -304 | $ | 27,005 | ||||||||||
Municipal bonds | 32,220 | 902 | -222 | 32,900 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | 9,062 | 300 | - | 9,362 | ||||||||||||||
Corporate bonds | 1,997 | 24 | - | 2,021 | ||||||||||||||
Total | $ | 70,470 | $ | 1,344 | $ | -526 | $ | 71,288 | ||||||||||
The amortized cost and fair value of securities as of March 31, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without any penalties. | ||||||||||||||||||
Amortized | Fair | |||||||||||||||||
Cost | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||
Due in one year or less | $ | 3,503 | $ | 3,514 | ||||||||||||||
Due after one year through five years | 35,436 | 35,379 | ||||||||||||||||
Due after five years through ten years | 15,315 | 15,760 | ||||||||||||||||
Due after ten years | 19,413 | 19,902 | ||||||||||||||||
73,667 | 74,555 | |||||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 8,515 | 8,844 | ||||||||||||||||
$ | 82,182 | $ | 83,399 | |||||||||||||||
Gross gains of $31 thousand were realized on sales of securities for the three months ended March 31, 2014 There were no gross losses on the sales of securities for the three months ended March 31, 2014. There were no sales of securities for the three months ended March 31, 2013. | ||||||||||||||||||
Securities with a carrying value of $57.4 million and $43.6 million at March 31, 2014 and December 31, 2013, respectively, were subject to agreements to repurchase, pledged to secure public deposits, or pledged for other purposes required or permitted by law. | ||||||||||||||||||
The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||
March 31, 2014 : | (In Thousands) | |||||||||||||||||
U.S. Government agency obligations | $ | 21,013 | $ | -253 | $ | - | $ | - | $ | 21,013 | $ | -253 | ||||||
Municipal bonds | 9,330 | -145 | - | - | 9,330 | -145 | ||||||||||||
Total Temporarily Impaired Securities | $ | 30,343 | $ | -398 | $ | - | $ | - | $ | 30,343 | $ | -398 | ||||||
December 31, 2013 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 16,895 | $ | -304 | $ | - | $ | - | $ | 16,895 | $ | -304 | ||||||
Municipal bonds | 7,441 | -222 | - | - | 7,441 | -222 | ||||||||||||
Total Temporarily Impaired Securities | $ | 24,336 | $ | -526 | $ | - | $ | - | $ | 24,336 | $ | -526 | ||||||
The Company had thirty-six (36) securities in an unrealized loss position at March 31, 2014. The unrealized losses are due only to market rate fluctuations. As of March 31, 2014, the Company either has the intent and ability to hold the securities until maturity or market price recovery, or believes that it is more likely than not that it will not be required to sell such securities. Management believes that the unrealized loss only represents temporary impairment of the securities. None of the individual losses are significant. | ||||||||||||||||||
Restricted_Investment_In_Bank_
Restricted Investment In Bank Stock | 3 Months Ended |
Mar. 31, 2014 | |
Restricted Investment In Bank Stock [Abstract] | ' |
Restricted Investments In Bank Stock | ' |
Note 10 – Restricted Investment in Bank Stock | |
Restricted investments in bank stock consist of Federal Home Loan Bank of Pittsburgh (“FHLB”) stock and Atlantic Central Bankers Bank (“ACBB”) stock. The restricted stocks are carried at cost. Federal law requires a member institution of the FHLB to hold stock of its district FHLB according to a predetermined formula. The Bank had FHLB stock at a carrying value of $882 thousand repurchased during the three months ended March 31, 2014 and no repurchases were made during the three months ended March 31, 2013. No stock purchases were made during the three months ended March 31, 2014 and 2013, respectively. Dividend payments of $13 and $1 thousand were received during the three months ended March 31, 2014 and 2013, respectively. | |
Management evaluates the FHLB and ACBB restricted stock for impairment. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of their cost is influenced by criteria such as (1) the significance of the decline in net assets of the issuer as compared to the capital stock amount for the issuer and the length of time this situation has persisted, (2) commitments by the issuer to make payments required by law or regulation and the level of such payments in relation to the operating performance of the issuer, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the issuer. | |
Based upon its evaluation of the foregoing criteria, management believes no impairment charge is necessary related to the FHLB or ACBB stock as of March 31, 2014. | |
Loans_Receivable_And_Credit_Qu
Loans Receivable And Credit Quality | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Loans Receivable And Credit Quality [Abstract] | ' | |||||||||||||||||||||||
Loans Receivable And Credit Quality | ' | |||||||||||||||||||||||
Note 11 – Loans Receivable and Credit Quality | ||||||||||||||||||||||||
The following table presents the composition of loans receivable at March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
Percentage of | Percentage of | |||||||||||||||||||||||
Balance | total Loans | Balance | total Loans | |||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 236,489 | 40.89% | $ | 235,545 | 41.40% | ||||||||||||||||||
Commercial construction | 24,995 | 4.32% | 21,109 | 3.71% | ||||||||||||||||||||
Commercial | 29,235 | 5.05% | 28,017 | 4.92% | ||||||||||||||||||||
Residential real estate | 286,696 | 49.57% | 283,421 | 49.82% | ||||||||||||||||||||
Consumer | 925 | 0.17% | 846 | 0.15% | ||||||||||||||||||||
Total loans | 578,340 | 100.00% | 568,938 | 100.00% | ||||||||||||||||||||
Unearned origination fees | -290 | -355 | ||||||||||||||||||||||
Allowance for loan losses | -5,374 | -5,326 | ||||||||||||||||||||||
$ | 572,676 | $ | 563,257 | |||||||||||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention (potential weaknesses), substandard (well defined weaknesses) and doubtful (full collection unlikely) within the Company's internal risk rating system as of March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
31-Mar-14 | (In Thousands) | |||||||||||||||||||||||
Commercial real estate | $ | 230,599 | $ | 702 | $ | 5,127 | $ | 61 | $ | 236,489 | ||||||||||||||
Commercial construction | 21,977 | 341 | 2,677 | - | 24,995 | |||||||||||||||||||
Commercial | 28,609 | 476 | 150 | - | 29,235 | |||||||||||||||||||
Residential real estate | 285,594 | 639 | 463 | - | 286,696 | |||||||||||||||||||
Consumer | 925 | - | - | - | 925 | |||||||||||||||||||
Total | $ | 567,704 | $ | 2,158 | $ | 8,417 | $ | 61 | $ | 578,340 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial real estate | $ | 229,987 | $ | 703 | $ | 4,794 | $ | 61 | $ | 235,545 | ||||||||||||||
Commercial construction | 18,091 | 902 | 2,116 | - | 21,109 | |||||||||||||||||||
Commercial | 27,499 | 480 | 38 | - | 28,017 | |||||||||||||||||||
Residential real estate | 282,296 | 644 | 481 | - | 283,421 | |||||||||||||||||||
Consumer | 846 | - | - | - | 846 | |||||||||||||||||||
Total | $ | 558,719 | $ | 2,729 | $ | 7,429 | $ | 61 | $ | 568,938 | ||||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||||||||
Year to Date | ||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
31-Mar-14 | (In Thousands) | |||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 6,710 | $ | 7,063 | $ | 6,431 | $ | 79 | ||||||||||||||||
Commercial construction | 3,017 | 3,215 | 3,017 | 26 | ||||||||||||||||||||
Commercial | 166 | 166 | 169 | 2 | ||||||||||||||||||||
Residential real estate | 597 | 653 | 608 | 8 | ||||||||||||||||||||
Consumer | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 618 | $ | 618 | $ | 82 | $ | 737 | $ | 28 | ||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Commercial | - | - | - | 19 | - | |||||||||||||||||||
Residential real estate | 1,107 | 1,107 | 316 | 1,110 | 10 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial real estate | $ | 7,328 | $ | 7,681 | $ | 82 | $ | 7,168 | $ | 107 | ||||||||||||||
Commercial construction | 3,017 | 3,215 | - | 3,017 | 26 | |||||||||||||||||||
Commercial | 166 | 166 | - | 188 | 2 | |||||||||||||||||||
Residential real estate | 1,704 | 1,760 | 316 | 1,718 | 18 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
$ | 12,215 | $ | 12,822 | $ | 398 | $ | 12,091 | $ | 153 | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 6,383 | $ | 6,737 | $ | 6,321 | $ | 302 | ||||||||||||||||
Commercial construction | 3,017 | 3,215 | 2,992 | 106 | ||||||||||||||||||||
Commercial | 171 | 170 | 241 | 8 | ||||||||||||||||||||
Residential real estate | 618 | 656 | 465 | 26 | ||||||||||||||||||||
Consumer | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 623 | $ | 623 | $ | 82 | $ | 881 | $ | 114 | ||||||||||||||
Commercial construction | - | - | - | 325 | - | |||||||||||||||||||
Commercial | 38 | 38 | 1 | 15 | 2 | |||||||||||||||||||
Residential real estate | 1,113 | 1,113 | 322 | 985 | 37 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial real estate | $ | 7,006 | $ | 7,360 | $ | 82 | $ | 7,202 | $ | 416 | ||||||||||||||
Commercial construction | 3,017 | 3,215 | - | 3,317 | 106 | |||||||||||||||||||
Commercial | 209 | 208 | 1 | 256 | 10 | |||||||||||||||||||
Residential real estate | 1,731 | 1,769 | 322 | 1,450 | 63 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
$ | 11,963 | $ | 12,552 | $ | 405 | $ | 12,225 | $ | 595 | |||||||||||||||
The following table presents non-accrual loans by classes of the loan portfolio as of March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 1,671 | $ | 1,635 | ||||||||||||||||||||
Commercial construction | - | - | ||||||||||||||||||||||
Commercial | 150 | 189 | ||||||||||||||||||||||
Residential real estate | 463 | 481 | ||||||||||||||||||||||
Consumer | - | - | ||||||||||||||||||||||
Total | $ | 2,284 | $ | 2,305 | ||||||||||||||||||||
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of March 31, 2014 and December 31, 2013, respectively: | ||||||||||||||||||||||||
31-Mar-14 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Total Past Due | Current | Total Loan | Loan Receivables > 90 Days and Accruing | |||||||||||||||||
Receivables | ||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 1,103 | $ | - | $ | 1,678 | $ | 2,781 | $ | 233,708 | $ | 236,489 | $ | 350 | ||||||||||
Commercial construction | - | 1,061 | - | 1,061 | 23,934 | 24,995 | - | |||||||||||||||||
Commercial | - | - | 150 | 150 | 29,085 | 29,235 | - | |||||||||||||||||
Residential real estate | 4 | - | 463 | 467 | 286,229 | 286,696 | - | |||||||||||||||||
Consumer | - | - | - | - | 925 | 925 | - | |||||||||||||||||
Total | $ | 1,107 | $ | 1,061 | $ | 2,291 | $ | 4,459 | $ | 573,881 | $ | 578,340 | $ | 350 | ||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial real estate | $ | 776 | $ | 415 | $ | 2,049 | $ | 3,240 | $ | 232,305 | $ | 235,545 | $ | 763 | ||||||||||
Commercial construction | - | 2,622 | - | 2,622 | 18,487 | 21,109 | - | |||||||||||||||||
Commercial | - | - | 189 | 189 | 27,828 | 28,017 | - | |||||||||||||||||
Residential real estate | - | - | 481 | 481 | 282,940 | 283,421 | - | |||||||||||||||||
Consumer | - | - | - | - | 846 | 846 | - | |||||||||||||||||
Total | $ | 776 | $ | 3,037 | $ | 2,719 | $ | 6,532 | $ | 562,406 | $ | 568,938 | $ | 763 | ||||||||||
The following tables detail the activity in the allowance for loan losses for the three months ended March 31, 2014 and 2013: | ||||||||||||||||||||||||
Commercial Real Estate | Commercial Construction | Commercial | Residential Real Estate | Consumer | Unallocated | Total | ||||||||||||||||||
Allowance for loan losses | (In Thousands) | |||||||||||||||||||||||
Three Months Ending March 31, 2014 | ||||||||||||||||||||||||
Beginning Balance - December 31, 2013 | $ | 1,791 | $ | 495 | $ | 349 | $ | 2,068 | $ | 24 | $ | 599 | $ | 5,326 | ||||||||||
Charge-offs | -2 | - | -38 | -18 | - | - | -58 | |||||||||||||||||
Recoveries | - | - | 1 | - | - | - | 1 | |||||||||||||||||
Provisions | -7 | 92 | 52 | 44 | -4 | -72 | 105 | |||||||||||||||||
Ending Balance - March 31, 2014 | $ | 1,782 | $ | 587 | $ | 364 | $ | 2,094 | $ | 20 | $ | 527 | $ | 5,374 | ||||||||||
Three Months Ending March 31, 2013 | ||||||||||||||||||||||||
Beginning Balance - December 31, 2012 | $ | 2,007 | $ | 660 | $ | 394 | $ | 1,677 | $ | 33 | $ | 376 | $ | 5,147 | ||||||||||
Charge-offs | -260 | -197 | - | - | - | - | -457 | |||||||||||||||||
Recoveries | 13 | - | - | 28 | - | - | 41 | |||||||||||||||||
Provisions | -284 | 27 | 328 | 54 | 5 | 150 | 280 | |||||||||||||||||
Ending Balance - March 31, 2013 | $ | 1,476 | $ | 490 | $ | 722 | $ | 1,759 | $ | 38 | $ | 526 | $ | 5,011 | ||||||||||
The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at March 31, 2014 and December 31, 2013. | ||||||||||||||||||||||||
Commercial Real Estate | Commercial Construction | Commercial | Residential Real Estate | Consumer | Unallocated | Total | ||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Ending Balance | $ | 1,782 | $ | 587 | $ | 364 | $ | 2,094 | $ | 20 | $ | 527 | $ | 5,374 | ||||||||||
Ending balance: individually evaluated for impairment | $ | 82 | $ | - | $ | - | $ | 316 | $ | - | $ | - | $ | 398 | ||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,700 | $ | 587 | $ | 364 | $ | 1,778 | $ | 20 | $ | 527 | $ | 4,976 | ||||||||||
Loans receivables: | ||||||||||||||||||||||||
Ending balance | $ | 236,489 | $ | 24,995 | $ | 29,235 | $ | 286,696 | $ | 925 | $ | 578,340 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 7,328 | $ | 3,017 | $ | 166 | $ | 1,704 | $ | - | $ | 12,215 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 229,161 | $ | 21,978 | $ | 29,069 | $ | 284,992 | $ | 925 | $ | 566,125 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Ending Balance | $ | 1,791 | $ | 495 | $ | 349 | $ | 2,068 | $ | 24 | $ | 599 | $ | 5,326 | ||||||||||
Ending balance: individually evaluated for impairment | $ | 82 | $ | - | $ | 1 | $ | 322 | $ | - | $ | - | $ | 405 | ||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,709 | $ | 495 | $ | 348 | $ | 1,746 | $ | 24 | $ | 599 | $ | 4,921 | ||||||||||
Loans receivables: | ||||||||||||||||||||||||
Ending balance | $ | 235,545 | $ | 21,109 | $ | 28,017 | $ | 283,421 | $ | 846 | $ | 568,938 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 7,006 | $ | 3,017 | $ | 209 | $ | 1,731 | $ | - | $ | 11,963 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 228,539 | $ | 18,092 | $ | 27,808 | $ | 281,690 | $ | 846 | $ | 556,975 | ||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||
The Company may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition than it would not otherwise consider, resulting in a modified loan which is then identified as troubled debt restructuring (“TDR”). The Company may modify loans through rate reductions, extensions to maturity, interest only payments, or payment modifications to better coincide the timing of payments due under the modified terms with the expected timing of cash flows from the borrowers’ operations. Loan modifications are intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. TDRs are considered impaired loans for purposes of calculating the Company’s allowance for loan losses. | ||||||||||||||||||||||||
The Company identifies loans for potential restructure primarily through direct communication with the borrower and the evaluation of the borrower’s financial statements, revenue projections, tax returns, and credit reports. Even if the borrower is not presently in default, management will consider the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future. | ||||||||||||||||||||||||
The following table presents TDRs outstanding: | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Accrual Loans | Non-Accrual Loans | Total Modifications | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 4,972 | $ | 343 | $ | 5,315 | ||||||||||||||||||
Commercial construction | 1,901 | - | 1,901 | |||||||||||||||||||||
Commercial | 16 | 150 | 166 | |||||||||||||||||||||
Residential real estate | 1,129 | - | 1,129 | |||||||||||||||||||||
Consumer | - | - | - | |||||||||||||||||||||
$ | 8,018 | $ | 493 | $ | 8,511 | |||||||||||||||||||
As of March 31, 2014, no available commitments were outstanding on TDRs. | ||||||||||||||||||||||||
There were no newly restructured loans that occurred during the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||||
There were no loans that were modified and classified as a TDR within the prior twelve months that experienced a payment default (loans ninety days or more past due) during the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||
Note 12 – Fair Value Measurements | ||||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. | ||||||||||||||||||
Fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | ||||||||||||||||||
ASC Topic 860 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC Topic 860 are as follows: | ||||||||||||||||||
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||||||||||||||||||
Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. | ||||||||||||||||||
Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). | ||||||||||||||||||
An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||||||||||||||||||
For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy utilized at March 31, 2014 and December 31, 2013, respectively, are as follows: | ||||||||||||||||||
Description | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | Total | ||||||||||||||
(In Thousands) | ||||||||||||||||||
U.S. Government agency obligations | $ | - | $ | 32,096 | $ | - | $ | 32,096 | ||||||||||
Municipal bonds | - | 40,440 | - | 40,440 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | - | 8,844 | - | 8,844 | ||||||||||||||
Corporate bonds | - | 2,019 | - | 2,019 | ||||||||||||||
March 31, 2014 Securities available for sale | $ | - | $ | 83,399 | $ | - | $ | 83,399 | ||||||||||
U.S. Government agency obligations | $ | - | $ | 27,005 | $ | - | $ | 27,005 | ||||||||||
Municipal bonds | - | 32,900 | - | 32,900 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | - | 9,362 | - | 9,362 | ||||||||||||||
Corporate bonds | - | 2,021 | - | 2,021 | ||||||||||||||
December 31, 2013 Securities available for sale | $ | - | $ | 71,288 | $ | - | $ | 71,288 | ||||||||||
For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2014 and December 31, 2013, respectively, are as follows: | ||||||||||||||||||
Description | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | Total | ||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014 Impaired loans (1) | $ | - | $ | - | $ | 833 | $ | 833 | ||||||||||
March 31, 2014 Impaired loans (2) | $ | - | $ | - | $ | 494 | $ | 494 | ||||||||||
March 31, 2014 Other real estate owned (1) | $ | - | $ | - | $ | 592 | $ | 592 | ||||||||||
December 31, 2013 Impaired loans (1) | $ | - | $ | - | $ | 870 | $ | 870 | ||||||||||
December 31, 2013 Impaired loans (2) | $ | - | $ | - | $ | 499 | $ | 499 | ||||||||||
December 31, 2013 Other real estate owned (1) | $ | - | $ | - | $ | 659 | $ | 659 | ||||||||||
(1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various | ||||||||||||||||||
Level 3 input which are not identifiable. Fair values may also include qualitative adjustments by management based on economic | ||||||||||||||||||
conditions and liquidation expenses. | ||||||||||||||||||
(2) Fair Value determined using the debt service of the borrower. | ||||||||||||||||||
Impaired loans are those that are accounted for under existing FASB guidance, in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the | ||||||||||||||||||
properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. | ||||||||||||||||||
At March 31, 2014, of the impaired loans having an aggregate balance of $12.2 million, $10.5 million did not require a valuation allowance because the value of the collateral securing the loan was determined to meet or exceed the balance owed on the loan. Of the remaining $1.7 million in impaired loans, an aggregate valuation allowance of $398 thousand was required to reflect what was determined to be a shortfall in the value of the collateral as compared to the balance on such loans. | ||||||||||||||||||
Real estate properties acquired through, or in lieu of, foreclosure are to be sold and are carried at fair value less estimated cost to sell. Fair value is based upon independent market prices or appraised value of the property. These assets are included in Level 3 fair value based upon the lowest level of input that is significant to the fair value measurement. | ||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: | ||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||
Description | Fair Value | Valuation Techniques | Unobservable Input | Range | ||||||||||||||
Estimate | (Weighted Average) | |||||||||||||||||
(Dollars In Thousands) | ||||||||||||||||||
March 31, 2014: | ||||||||||||||||||
Impaired loans | $ | 833 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to -25% (-15.7%) | |||||||||||||
Liquidation expenses (3) | 0 to -10% (-8.4%) | |||||||||||||||||
Impaired loans | $ | 494 | Discounted Cash Flows (5) | |||||||||||||||
Other real estate owned | $ | 592 | Listings, Letters of Intent & Third Party Evaluations (4) | Liquidation expenses (3) | -5% (-5%) | |||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various | |||||||||||||||||
Level 3 inputs which are not identifiable. | ||||||||||||||||||
-2 | Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. | |||||||||||||||||
The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||||
-3 | Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of | |||||||||||||||||
liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. | ||||||||||||||||||
-4 | Fair value is determined by listings, letters of intent or third-party evaluations. | |||||||||||||||||
-5 | Fair value is determined using the debt service of the borrower. | |||||||||||||||||
The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at March 31, 2014 and December 31, 2013: | ||||||||||||||||||
Cash and Cash Equivalents (Carried at Cost) | ||||||||||||||||||
The carrying amounts reported in the balance sheet for cash and short-term instruments approximate those assets’ fair values. | ||||||||||||||||||
Interest Bearing Time Deposits (Carried at Cost) | ||||||||||||||||||
Fair values for fixed-rate time certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. The Company generally purchases amounts below the insured limit, limiting the amount of credit risk on these time deposits. | ||||||||||||||||||
Securities Available for Sale (Carried at Fair Value) | ||||||||||||||||||
The fair value of securities available for sale are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted prices. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. | ||||||||||||||||||
Loans Receivable (Carried at Cost) | ||||||||||||||||||
The fair values of loans, excluding impaired loans carried at fair value of collateral, are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, and projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. | ||||||||||||||||||
Restricted Investment in Bank Stock (Carried at Cost) | ||||||||||||||||||
The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities. | ||||||||||||||||||
Accrued Interest Receivable and Payable (Carried at Cost) | ||||||||||||||||||
The carrying amount of accrued interest receivable and accrued interest payable approximates its fair value. | ||||||||||||||||||
Deposit Liabilities (Carried at Cost) | ||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and noninterest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. | ||||||||||||||||||
Securities Sold Under Agreements to Repurchase, Federal Funds Purchased and Short-Term Borrowings (Carried at Cost) | ||||||||||||||||||
These borrowings are short term and the carrying amount approximates the fair value. | ||||||||||||||||||
Long-Term Borrowings (Carried at Cost) | ||||||||||||||||||
Fair values of FHLB and Univest advances are estimated using discounted cash flow analysis, based on quoted prices for new FHLB and Univest advances with similar credit risk characteristics, terms and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. | ||||||||||||||||||
Off-Balance Sheet Financial Instruments (Disclosed at Cost) | ||||||||||||||||||
Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. | ||||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows at March 31, 2014 and December 31, 2013: | ||||||||||||||||||
Carrying Amount | Fair Value Estimate | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | ||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014: | ||||||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 28,583 | $ | 28,588 | $ | 28,588 | $ | - | $ | - | ||||||||
Interest bearing time deposits | 1,826 | 1,831 | - | 1,831 | - | |||||||||||||
Securities available-for-sale | 83,399 | 83,399 | - | 83,399 | - | |||||||||||||
Loans receivable, net of allowance | 572,676 | 574,291 | - | - | 574,291 | |||||||||||||
Restricted investments in bank stock | 1,275 | 1,275 | - | 1,275 | - | |||||||||||||
Accrued interest receivable | 1,524 | 1,524 | - | 1,524 | - | |||||||||||||
- | ||||||||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 609,174 | 609,640 | - | 609,640 | - | |||||||||||||
Securities sold under agreements to | ||||||||||||||||||
repurchase and federal funds purchased | 30,388 | 30,385 | - | 30,385 | - | |||||||||||||
Long-term borrowings | 3,650 | 3,567 | - | - | 3,567 | |||||||||||||
Accrued interest payable | 268 | 268 | - | 268 | - | |||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||||
Commitments to grant loans | - | - | - | - | - | |||||||||||||
Unfunded commitments under lines of credit | - | - | - | - | - | |||||||||||||
Standby letters of credit | - | - | - | - | - | |||||||||||||
December 31, 2013: | ||||||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 17,831 | $ | 17,831 | $ | 17,831 | $ | - | $ | - | ||||||||
Interest bearing time deposits | 1,822 | 1,830 | - | 1,830 | - | |||||||||||||
Securities available-for-sale | 71,288 | 71,288 | - | 71,288 | - | |||||||||||||
Loans receivable, net of allowance | 563,257 | 563,444 | - | - | 563,444 | |||||||||||||
Restricted investments in bank stock | 2,157 | 2,157 | - | 2,157 | - | |||||||||||||
Accrued interest receivable | 1,533 | 1,533 | - | 1,533 | - | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 569,037 | 569,400 | - | 569,400 | - | |||||||||||||
Securities sold under agreements to | ||||||||||||||||||
repurchase and federal funds purchased | 30,418 | 30,415 | - | 30,415 | - | |||||||||||||
Short-term borrowings | 10,000 | 10,000 | 10,000 | |||||||||||||||
Long-term borrowings | 3,900 | 3,797 | - | - | 3,797 | |||||||||||||
Accrued interest payable | 235 | 235 | - | 235 | - | |||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||||
Commitments to grant loans | - | - | - | - | - | |||||||||||||
Unfunded commitments under lines of credit | - | - | - | - | - | |||||||||||||
Standby letters of credit | - | - | - | - | - | |||||||||||||
Offsetting_Assets_And_Liabilit
Offsetting Assets And Liabilities | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
Offsetting Assets And Liabilities [Abstract] | ' | |||||||||||||||||||||
Offsetting Assets And Liabilities | ' | |||||||||||||||||||||
Note 13 – Offsetting Assets and Liabilities | ||||||||||||||||||||||
The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability in the Company's consolidated statements of condition, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not enter into reverse repurchase agreements, there is no such offsetting to be done with the repurchase agreements. | ||||||||||||||||||||||
The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., fails to make an interest payment to the counterparty). For private institution repurchase agreements, if the private institution counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. | ||||||||||||||||||||||
The following table presents the liabilities subject to an enforceable master netting arrangement or repurchase agreements as of March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||
Net Amounts | ||||||||||||||||||||||
Gross | Gross Amounts | of Liabilities | ||||||||||||||||||||
Amounts of | Offset in the | Presented in the | ||||||||||||||||||||
Recognized | Consolidated | Consolidated | Financial | Cash Collateral | ||||||||||||||||||
Liabilities | Balance Sheet | Balance Sheet | Instruments | Pledged | Net Amount | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||
Repurchase Agreements: | ||||||||||||||||||||||
Corporate Institutions | $ | 30,388 | $ | - | $ | 30,388 | $ | -30,388 | $ | - | $ | - | ||||||||||
31-Dec-13 | ||||||||||||||||||||||
Repurchase Agreements: | ||||||||||||||||||||||
Corporate Institutions | $ | 30,418 | $ | - | $ | 30,418 | $ | -30,418 | $ | - | $ | - | ||||||||||
As of March 31, 2014 and December 31, 2013, the fair value of securities pledged was $33.9 million and $34.3 million, respectively. | ||||||||||||||||||||||
New_Accounting_Standards
New Accounting Standards | 3 Months Ended |
Mar. 31, 2014 | |
New Accounting Standards [Abstract] | ' |
New Accounting Standards | ' |
Note 14 – New Accounting Standards | |
Accounting Standards Update (ASU) 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. | |
The objective of this ASU is to reduce the diversity in practice of when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan and when the related loan receivable should be derecognized and the real estate owned recognized. This amendment clarifies that an in substance repossession or foreclosure occurs when either a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure, or b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Upon completion of either of these two events the creditor is considered to have received physical possession of residential real estate property and therefore should derecognize the loan receivable and recognize the real estate owned. Additionally, this amendment requires interim and annual disclosure of both a) the amount of foreclosed residential real estate property held by the creditor and b) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. | |
The provisions of this ASU are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2014. For entities other than public business entities, this ASU is effective for annual periods beginning after December 15, 2014, and interim periods within annual periods beginning after December 15, 2015. This ASU can be adopted using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. | |
Basis_Of_Presentation_Policy
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Basis Of Presentation [Abstract] | ' |
Consolidation | ' |
Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. | |
The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. | |
The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. | |
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Other Comprehensive Income (Loss) [Abstract] | ' | ||||||||||||||||||||||
Schedule Of Comprehensive Income (Loss) | ' | ||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Before | Tax | Net of | Before | Tax | Net of | ||||||||||||||||||
Tax | Effect | Tax | Tax | Effect | Tax | ||||||||||||||||||
Other comprehensive (loss) income: | |||||||||||||||||||||||
Unrealized holding (losses) gains on securities | |||||||||||||||||||||||
available for sale | $ | 430 | $ | -146 | $ | 284 | $ | -68 | $ | 23 | $ | -45 | |||||||||||
Reclassification adjustments for | |||||||||||||||||||||||
gains on securities transactions included | |||||||||||||||||||||||
in net income (A),(B) | -31 | 10 | -21 | - | - | - | |||||||||||||||||
Total other comprehensive income (loss) | $ | 399 | $ | -136 | $ | 263 | $ | -68 | $ | 23 | $ | -45 | |||||||||||
(A) | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying | ||||||||||||||||||||||
Consolidated Statements of Income. | |||||||||||||||||||||||
(B) | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. | ||||||||||||||||||||||
Schedule Of The Realized Gains On Securities Available For Sale, Net Of Tax | ' | ||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||||
Realized gains on | |||||||||||||||||||||||
securities transactions | $ | -31 | $ | - | |||||||||||||||||||
Income taxes | 10 | - | |||||||||||||||||||||
Net of tax | $ | -21 | $ | - | |||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income, Net Of Tax | ' | ||||||||||||||||||||||
Securities | |||||||||||||||||||||||
Available | |||||||||||||||||||||||
for Sale | |||||||||||||||||||||||
Three Months Ended March 31, 2014 | |||||||||||||||||||||||
Balance January 1, 2014 | $ | 540 | |||||||||||||||||||||
Other comprehensive income before reclassifications | 284 | ||||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||
comprehensive income | -21 | ||||||||||||||||||||||
Net other comprehensive income during the period | 263 | ||||||||||||||||||||||
Balance March 31, 2014 | $ | 803 | |||||||||||||||||||||
Balance January 1, 2013 | $ | 2,282 | |||||||||||||||||||||
Other comprehensive loss before reclassifications | -45 | ||||||||||||||||||||||
Amounts reclassified from accumulated other | |||||||||||||||||||||||
comprehensive income | - | ||||||||||||||||||||||
Net other comprehensive loss during the period | -45 | ||||||||||||||||||||||
Balance March 31, 2013 | $ | 2,237 | |||||||||||||||||||||
Basic_And_Diluted_Earnings_Per1
Basic And Diluted Earnings Per Share (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Basic And Diluted Earnings Per Share [Abstract] | ' | |||||||||
Earnings Per Share | ' | |||||||||
Three Months Ended March 31, | ||||||||||
2014 | 2013 | |||||||||
Net income | $ | 1,472 | $ | 1,178 | ||||||
Weighted average shares outstanding | 7,331,495 | 7,242,231 | ||||||||
Dilutive effect of potential common shares, stock options | 396 | 4,780 | ||||||||
Diluted weighted average common shares outstanding | 7,331,891 | 7,247,011 | ||||||||
Basic earnings per share | $ | 0.20 | $ | 0.16 | ||||||
Diluted earnings per share | $ | 0.20 | $ | 0.16 | ||||||
Securities_Available_For_Sale_
Securities Available For Sale (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Securities Avaliable For Sale [Abstract] | ' | |||||||||||||||||
Amortized Cost And Fair Values Of Securities Available-For-Sale | ' | |||||||||||||||||
Gross | Gross | |||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 32,254 | $ | 95 | $ | -253 | $ | 32,096 | ||||||||||
Municipal bonds | 39,415 | 1,170 | -145 | 40,440 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | 8,515 | 329 | - | 8,844 | ||||||||||||||
Corporate bonds | 1,998 | 21 | - | 2,019 | ||||||||||||||
Total | $ | 82,182 | $ | 1,615 | $ | -398 | $ | 83,399 | ||||||||||
December 31, 2013 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 27,191 | $ | 118 | $ | -304 | $ | 27,005 | ||||||||||
Municipal bonds | 32,220 | 902 | -222 | 32,900 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | 9,062 | 300 | - | 9,362 | ||||||||||||||
Corporate bonds | 1,997 | 24 | - | 2,021 | ||||||||||||||
Total | $ | 70,470 | $ | 1,344 | $ | -526 | $ | 71,288 | ||||||||||
Securities Available-For-Sale By Contractual Maturity | ' | |||||||||||||||||
Amortized | Fair | |||||||||||||||||
Cost | Value | |||||||||||||||||
(In Thousands) | ||||||||||||||||||
Due in one year or less | $ | 3,503 | $ | 3,514 | ||||||||||||||
Due after one year through five years | 35,436 | 35,379 | ||||||||||||||||
Due after five years through ten years | 15,315 | 15,760 | ||||||||||||||||
Due after ten years | 19,413 | 19,902 | ||||||||||||||||
73,667 | 74,555 | |||||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 8,515 | 8,844 | ||||||||||||||||
$ | 82,182 | $ | 83,399 | |||||||||||||||
Investments' Gross Unrealized Losses And Fair Value | ' | |||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||
March 31, 2014 : | (In Thousands) | |||||||||||||||||
U.S. Government agency obligations | $ | 21,013 | $ | -253 | $ | - | $ | - | $ | 21,013 | $ | -253 | ||||||
Municipal bonds | 9,330 | -145 | - | - | 9,330 | -145 | ||||||||||||
Total Temporarily Impaired Securities | $ | 30,343 | $ | -398 | $ | - | $ | - | $ | 30,343 | $ | -398 | ||||||
December 31, 2013 : | ||||||||||||||||||
U.S. Government agency obligations | $ | 16,895 | $ | -304 | $ | - | $ | - | $ | 16,895 | $ | -304 | ||||||
Municipal bonds | 7,441 | -222 | - | - | 7,441 | -222 | ||||||||||||
Total Temporarily Impaired Securities | $ | 24,336 | $ | -526 | $ | - | $ | - | $ | 24,336 | $ | -526 | ||||||
Loans_Receivable_And_Credit_Qu1
Loans Receivable And Credit Quality (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Loans Receivable And Credit Quality [Abstract] | ' | |||||||||||||||||||||||
Composition Of Loans Receivable | ' | |||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
Percentage of | Percentage of | |||||||||||||||||||||||
Balance | total Loans | Balance | total Loans | |||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 236,489 | 40.89% | $ | 235,545 | 41.40% | ||||||||||||||||||
Commercial construction | 24,995 | 4.32% | 21,109 | 3.71% | ||||||||||||||||||||
Commercial | 29,235 | 5.05% | 28,017 | 4.92% | ||||||||||||||||||||
Residential real estate | 286,696 | 49.57% | 283,421 | 49.82% | ||||||||||||||||||||
Consumer | 925 | 0.17% | 846 | 0.15% | ||||||||||||||||||||
Total loans | 578,340 | 100.00% | 568,938 | 100.00% | ||||||||||||||||||||
Unearned origination fees | -290 | -355 | ||||||||||||||||||||||
Allowance for loan losses | -5,374 | -5,326 | ||||||||||||||||||||||
$ | 572,676 | $ | 563,257 | |||||||||||||||||||||
Schedule Of Loan Portfolio By Aggregate Risk Rating | ' | |||||||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
31-Mar-14 | (In Thousands) | |||||||||||||||||||||||
Commercial real estate | $ | 230,599 | $ | 702 | $ | 5,127 | $ | 61 | $ | 236,489 | ||||||||||||||
Commercial construction | 21,977 | 341 | 2,677 | - | 24,995 | |||||||||||||||||||
Commercial | 28,609 | 476 | 150 | - | 29,235 | |||||||||||||||||||
Residential real estate | 285,594 | 639 | 463 | - | 286,696 | |||||||||||||||||||
Consumer | 925 | - | - | - | 925 | |||||||||||||||||||
Total | $ | 567,704 | $ | 2,158 | $ | 8,417 | $ | 61 | $ | 578,340 | ||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial real estate | $ | 229,987 | $ | 703 | $ | 4,794 | $ | 61 | $ | 235,545 | ||||||||||||||
Commercial construction | 18,091 | 902 | 2,116 | - | 21,109 | |||||||||||||||||||
Commercial | 27,499 | 480 | 38 | - | 28,017 | |||||||||||||||||||
Residential real estate | 282,296 | 644 | 481 | - | 283,421 | |||||||||||||||||||
Consumer | 846 | - | - | - | 846 | |||||||||||||||||||
Total | $ | 558,719 | $ | 2,729 | $ | 7,429 | $ | 61 | $ | 568,938 | ||||||||||||||
Schedule Of Impaired Loans | ' | |||||||||||||||||||||||
Year to Date | ||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||
31-Mar-14 | (In Thousands) | |||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 6,710 | $ | 7,063 | $ | 6,431 | $ | 79 | ||||||||||||||||
Commercial construction | 3,017 | 3,215 | 3,017 | 26 | ||||||||||||||||||||
Commercial | 166 | 166 | 169 | 2 | ||||||||||||||||||||
Residential real estate | 597 | 653 | 608 | 8 | ||||||||||||||||||||
Consumer | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 618 | $ | 618 | $ | 82 | $ | 737 | $ | 28 | ||||||||||||||
Commercial construction | - | - | - | - | - | |||||||||||||||||||
Commercial | - | - | - | 19 | - | |||||||||||||||||||
Residential real estate | 1,107 | 1,107 | 316 | 1,110 | 10 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial real estate | $ | 7,328 | $ | 7,681 | $ | 82 | $ | 7,168 | $ | 107 | ||||||||||||||
Commercial construction | 3,017 | 3,215 | - | 3,017 | 26 | |||||||||||||||||||
Commercial | 166 | 166 | - | 188 | 2 | |||||||||||||||||||
Residential real estate | 1,704 | 1,760 | 316 | 1,718 | 18 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
$ | 12,215 | $ | 12,822 | $ | 398 | $ | 12,091 | $ | 153 | |||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 6,383 | $ | 6,737 | $ | 6,321 | $ | 302 | ||||||||||||||||
Commercial construction | 3,017 | 3,215 | 2,992 | 106 | ||||||||||||||||||||
Commercial | 171 | 170 | 241 | 8 | ||||||||||||||||||||
Residential real estate | 618 | 656 | 465 | 26 | ||||||||||||||||||||
Consumer | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Commercial real estate | $ | 623 | $ | 623 | $ | 82 | $ | 881 | $ | 114 | ||||||||||||||
Commercial construction | - | - | - | 325 | - | |||||||||||||||||||
Commercial | 38 | 38 | 1 | 15 | 2 | |||||||||||||||||||
Residential real estate | 1,113 | 1,113 | 322 | 985 | 37 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
Total: | ||||||||||||||||||||||||
Commercial real estate | $ | 7,006 | $ | 7,360 | $ | 82 | $ | 7,202 | $ | 416 | ||||||||||||||
Commercial construction | 3,017 | 3,215 | - | 3,317 | 106 | |||||||||||||||||||
Commercial | 209 | 208 | 1 | 256 | 10 | |||||||||||||||||||
Residential real estate | 1,731 | 1,769 | 322 | 1,450 | 63 | |||||||||||||||||||
Consumer | - | - | - | - | - | |||||||||||||||||||
$ | 11,963 | $ | 12,552 | $ | 405 | $ | 12,225 | $ | 595 | |||||||||||||||
Schedule Of Nonaccrual Loans | ' | |||||||||||||||||||||||
31-Mar-14 | 31-Dec-13 | |||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 1,671 | $ | 1,635 | ||||||||||||||||||||
Commercial construction | - | - | ||||||||||||||||||||||
Commercial | 150 | 189 | ||||||||||||||||||||||
Residential real estate | 463 | 481 | ||||||||||||||||||||||
Consumer | - | - | ||||||||||||||||||||||
Total | $ | 2,284 | $ | 2,305 | ||||||||||||||||||||
Schedule Of Past Due Loans | ' | |||||||||||||||||||||||
31-Mar-14 | 30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Total Past Due | Current | Total Loan | Loan Receivables > 90 Days and Accruing | |||||||||||||||||
Receivables | ||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 1,103 | $ | - | $ | 1,678 | $ | 2,781 | $ | 233,708 | $ | 236,489 | $ | 350 | ||||||||||
Commercial construction | - | 1,061 | - | 1,061 | 23,934 | 24,995 | - | |||||||||||||||||
Commercial | - | - | 150 | 150 | 29,085 | 29,235 | - | |||||||||||||||||
Residential real estate | 4 | - | 463 | 467 | 286,229 | 286,696 | - | |||||||||||||||||
Consumer | - | - | - | - | 925 | 925 | - | |||||||||||||||||
Total | $ | 1,107 | $ | 1,061 | $ | 2,291 | $ | 4,459 | $ | 573,881 | $ | 578,340 | $ | 350 | ||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Commercial real estate | $ | 776 | $ | 415 | $ | 2,049 | $ | 3,240 | $ | 232,305 | $ | 235,545 | $ | 763 | ||||||||||
Commercial construction | - | 2,622 | - | 2,622 | 18,487 | 21,109 | - | |||||||||||||||||
Commercial | - | - | 189 | 189 | 27,828 | 28,017 | - | |||||||||||||||||
Residential real estate | - | - | 481 | 481 | 282,940 | 283,421 | - | |||||||||||||||||
Consumer | - | - | - | - | 846 | 846 | - | |||||||||||||||||
Total | $ | 776 | $ | 3,037 | $ | 2,719 | $ | 6,532 | $ | 562,406 | $ | 568,938 | $ | 763 | ||||||||||
Activity In The Allowance For Loan Losses | ' | |||||||||||||||||||||||
Commercial Real Estate | Commercial Construction | Commercial | Residential Real Estate | Consumer | Unallocated | Total | ||||||||||||||||||
Allowance for loan losses | (In Thousands) | |||||||||||||||||||||||
Three Months Ending March 31, 2014 | ||||||||||||||||||||||||
Beginning Balance - December 31, 2013 | $ | 1,791 | $ | 495 | $ | 349 | $ | 2,068 | $ | 24 | $ | 599 | $ | 5,326 | ||||||||||
Charge-offs | -2 | - | -38 | -18 | - | - | -58 | |||||||||||||||||
Recoveries | - | - | 1 | - | - | - | 1 | |||||||||||||||||
Provisions | -7 | 92 | 52 | 44 | -4 | -72 | 105 | |||||||||||||||||
Ending Balance - March 31, 2014 | $ | 1,782 | $ | 587 | $ | 364 | $ | 2,094 | $ | 20 | $ | 527 | $ | 5,374 | ||||||||||
Three Months Ending March 31, 2013 | ||||||||||||||||||||||||
Beginning Balance - December 31, 2012 | $ | 2,007 | $ | 660 | $ | 394 | $ | 1,677 | $ | 33 | $ | 376 | $ | 5,147 | ||||||||||
Charge-offs | -260 | -197 | - | - | - | - | -457 | |||||||||||||||||
Recoveries | 13 | - | - | 28 | - | - | 41 | |||||||||||||||||
Provisions | -284 | 27 | 328 | 54 | 5 | 150 | 280 | |||||||||||||||||
Ending Balance - March 31, 2013 | $ | 1,476 | $ | 490 | $ | 722 | $ | 1,759 | $ | 38 | $ | 526 | $ | 5,011 | ||||||||||
Allocation For Loan Losses And The Related Portfolio Disaggregated Based On Impairment Methodology | ' | |||||||||||||||||||||||
Commercial Real Estate | Commercial Construction | Commercial | Residential Real Estate | Consumer | Unallocated | Total | ||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Ending Balance | $ | 1,782 | $ | 587 | $ | 364 | $ | 2,094 | $ | 20 | $ | 527 | $ | 5,374 | ||||||||||
Ending balance: individually evaluated for impairment | $ | 82 | $ | - | $ | - | $ | 316 | $ | - | $ | - | $ | 398 | ||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,700 | $ | 587 | $ | 364 | $ | 1,778 | $ | 20 | $ | 527 | $ | 4,976 | ||||||||||
Loans receivables: | ||||||||||||||||||||||||
Ending balance | $ | 236,489 | $ | 24,995 | $ | 29,235 | $ | 286,696 | $ | 925 | $ | 578,340 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 7,328 | $ | 3,017 | $ | 166 | $ | 1,704 | $ | - | $ | 12,215 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 229,161 | $ | 21,978 | $ | 29,069 | $ | 284,992 | $ | 925 | $ | 566,125 | ||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Ending Balance | $ | 1,791 | $ | 495 | $ | 349 | $ | 2,068 | $ | 24 | $ | 599 | $ | 5,326 | ||||||||||
Ending balance: individually evaluated for impairment | $ | 82 | $ | - | $ | 1 | $ | 322 | $ | - | $ | - | $ | 405 | ||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,709 | $ | 495 | $ | 348 | $ | 1,746 | $ | 24 | $ | 599 | $ | 4,921 | ||||||||||
Loans receivables: | ||||||||||||||||||||||||
Ending balance | $ | 235,545 | $ | 21,109 | $ | 28,017 | $ | 283,421 | $ | 846 | $ | 568,938 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 7,006 | $ | 3,017 | $ | 209 | $ | 1,731 | $ | - | $ | 11,963 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 228,539 | $ | 18,092 | $ | 27,808 | $ | 281,690 | $ | 846 | $ | 556,975 | ||||||||||||
Troubled Debt Restructuring Outstanding | ' | |||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||
Accrual Loans | Non-Accrual Loans | Total Modifications | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||
Commercial real estate | $ | 4,972 | $ | 343 | $ | 5,315 | ||||||||||||||||||
Commercial construction | 1,901 | - | 1,901 | |||||||||||||||||||||
Commercial | 16 | 150 | 166 | |||||||||||||||||||||
Residential real estate | 1,129 | - | 1,129 | |||||||||||||||||||||
Consumer | - | - | - | |||||||||||||||||||||
$ | 8,018 | $ | 493 | $ | 8,511 | |||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||
Fair Value Of Financial Assets Measured On Recurring Basis | ' | |||||||||||||||||
Description | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | Total | ||||||||||||||
(In Thousands) | ||||||||||||||||||
U.S. Government agency obligations | $ | - | $ | 32,096 | $ | - | $ | 32,096 | ||||||||||
Municipal bonds | - | 40,440 | - | 40,440 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | - | 8,844 | - | 8,844 | ||||||||||||||
Corporate bonds | - | 2,019 | - | 2,019 | ||||||||||||||
March 31, 2014 Securities available for sale | $ | - | $ | 83,399 | $ | - | $ | 83,399 | ||||||||||
U.S. Government agency obligations | $ | - | $ | 27,005 | $ | - | $ | 27,005 | ||||||||||
Municipal bonds | - | 32,900 | - | 32,900 | ||||||||||||||
U.S. Government Sponsored Enterprise (GSE) - | ||||||||||||||||||
Mortgage-backed securities - residential | - | 9,362 | - | 9,362 | ||||||||||||||
Corporate bonds | - | 2,021 | - | 2,021 | ||||||||||||||
December 31, 2013 Securities available for sale | $ | - | $ | 71,288 | $ | - | $ | 71,288 | ||||||||||
Fair Value Of Financial Assets Measured On Nonrecurring Basis | ' | |||||||||||||||||
Description | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | Total | ||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014 Impaired loans (1) | $ | - | $ | - | $ | 833 | $ | 833 | ||||||||||
March 31, 2014 Impaired loans (2) | $ | - | $ | - | $ | 494 | $ | 494 | ||||||||||
March 31, 2014 Other real estate owned (1) | $ | - | $ | - | $ | 592 | $ | 592 | ||||||||||
December 31, 2013 Impaired loans (1) | $ | - | $ | - | $ | 870 | $ | 870 | ||||||||||
December 31, 2013 Impaired loans (2) | $ | - | $ | - | $ | 499 | $ | 499 | ||||||||||
December 31, 2013 Other real estate owned (1) | $ | - | $ | - | $ | 659 | $ | 659 | ||||||||||
(1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various | ||||||||||||||||||
Level 3 input which are not identifiable. Fair values may also include qualitative adjustments by management based on economic | ||||||||||||||||||
conditions and liquidation expenses. | ||||||||||||||||||
(2) Fair Value determined using the debt service of the borrower. | ||||||||||||||||||
Quantitative Information About Level 3 Fair Value Measurements | ' | |||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||||
Description | Fair Value | Valuation Techniques | Unobservable Input | Range | ||||||||||||||
Estimate | (Weighted Average) | |||||||||||||||||
(Dollars In Thousands) | ||||||||||||||||||
March 31, 2014: | ||||||||||||||||||
Impaired loans | $ | 833 | Appraisal of collateral (1) | Appraisal adjustments (2) | 0% to -25% (-15.7%) | |||||||||||||
Liquidation expenses (3) | 0 to -10% (-8.4%) | |||||||||||||||||
Impaired loans | $ | 494 | Discounted Cash Flows (5) | |||||||||||||||
Other real estate owned | $ | 592 | Listings, Letters of Intent & Third Party Evaluations (4) | Liquidation expenses (3) | -5% (-5%) | |||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various | |||||||||||||||||
Level 3 inputs which are not identifiable. | ||||||||||||||||||
-2 | Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. | |||||||||||||||||
The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||||
-3 | Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of | |||||||||||||||||
liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. | ||||||||||||||||||
-4 | Fair value is determined by listings, letters of intent or third-party evaluations. | |||||||||||||||||
-5 | Fair value is determined using the debt service of the borrower. | |||||||||||||||||
Estimated Fair Value Of Financial Instruments | ' | |||||||||||||||||
Carrying Amount | Fair Value Estimate | (Level 1) Quoted Prices in Active Markets for Identical Assets | (Level 2) Significant Other Observable Inputs | (Level 3) Significant Unobservable Inputs | ||||||||||||||
(In Thousands) | ||||||||||||||||||
March 31, 2014: | ||||||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 28,583 | $ | 28,588 | $ | 28,588 | $ | - | $ | - | ||||||||
Interest bearing time deposits | 1,826 | 1,831 | - | 1,831 | - | |||||||||||||
Securities available-for-sale | 83,399 | 83,399 | - | 83,399 | - | |||||||||||||
Loans receivable, net of allowance | 572,676 | 574,291 | - | - | 574,291 | |||||||||||||
Restricted investments in bank stock | 1,275 | 1,275 | - | 1,275 | - | |||||||||||||
Accrued interest receivable | 1,524 | 1,524 | - | 1,524 | - | |||||||||||||
- | ||||||||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 609,174 | 609,640 | - | 609,640 | - | |||||||||||||
Securities sold under agreements to | ||||||||||||||||||
repurchase and federal funds purchased | 30,388 | 30,385 | - | 30,385 | - | |||||||||||||
Long-term borrowings | 3,650 | 3,567 | - | - | 3,567 | |||||||||||||
Accrued interest payable | 268 | 268 | - | 268 | - | |||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||||
Commitments to grant loans | - | - | - | - | - | |||||||||||||
Unfunded commitments under lines of credit | - | - | - | - | - | |||||||||||||
Standby letters of credit | - | - | - | - | - | |||||||||||||
December 31, 2013: | ||||||||||||||||||
Financial assets: | ||||||||||||||||||
Cash and cash equivalents | $ | 17,831 | $ | 17,831 | $ | 17,831 | $ | - | $ | - | ||||||||
Interest bearing time deposits | 1,822 | 1,830 | - | 1,830 | - | |||||||||||||
Securities available-for-sale | 71,288 | 71,288 | - | 71,288 | - | |||||||||||||
Loans receivable, net of allowance | 563,257 | 563,444 | - | - | 563,444 | |||||||||||||
Restricted investments in bank stock | 2,157 | 2,157 | - | 2,157 | - | |||||||||||||
Accrued interest receivable | 1,533 | 1,533 | - | 1,533 | - | |||||||||||||
Financial liabilities: | ||||||||||||||||||
Deposits | 569,037 | 569,400 | - | 569,400 | - | |||||||||||||
Securities sold under agreements to | ||||||||||||||||||
repurchase and federal funds purchased | 30,418 | 30,415 | - | 30,415 | - | |||||||||||||
Short-term borrowings | 10,000 | 10,000 | 10,000 | |||||||||||||||
Long-term borrowings | 3,900 | 3,797 | - | - | 3,797 | |||||||||||||
Accrued interest payable | 235 | 235 | - | 235 | - | |||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||||
Commitments to grant loans | - | - | - | - | - | |||||||||||||
Unfunded commitments under lines of credit | - | - | - | - | - | |||||||||||||
Standby letters of credit | - | - | - | - | - | |||||||||||||
Offsetting_Assets_And_Liabilit1
Offsetting Assets And Liabilities (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
Offsetting Assets And Liabilities [Abstract] | ' | |||||||||||||||||||||
Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements | ' | |||||||||||||||||||||
Net Amounts | ||||||||||||||||||||||
Gross | Gross Amounts | of Liabilities | ||||||||||||||||||||
Amounts of | Offset in the | Presented in the | ||||||||||||||||||||
Recognized | Consolidated | Consolidated | Financial | Cash Collateral | ||||||||||||||||||
Liabilities | Balance Sheet | Balance Sheet | Instruments | Pledged | Net Amount | |||||||||||||||||
(In Thousands) | ||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||
Repurchase Agreements: | ||||||||||||||||||||||
Corporate Institutions | $ | 30,388 | $ | - | $ | 30,388 | $ | -30,388 | $ | - | $ | - | ||||||||||
31-Dec-13 | ||||||||||||||||||||||
Repurchase Agreements: | ||||||||||||||||||||||
Corporate Institutions | $ | 30,418 | $ | - | $ | 30,418 | $ | -30,418 | $ | - | $ | - | ||||||||||
Basis_Of_Presentation_Narrativ
Basis Of Presentation (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Basis Of Presentation [Abstract] | ' |
Reason for business combination | 'The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the "Bank") in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. |
Effective date of acquisition | 11-Nov-08 |
Stock_Incentive_Plans_Narrativ
Stock Incentive Plans (Narrative) (Details) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Jan. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 31, 2014 | Feb. 28, 2013 | Feb. 29, 2012 | Jan. 31, 2014 | Feb. 28, 2013 | Feb. 29, 2012 |
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | |||
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award expiration period | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares authorized | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Award expiration date | ' | ' | ' | ' | ' | ' | 15-Jun-20 | ' | ' | ' | ' | ' | ' | ' | ' |
Awards granted | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | 10,209 | 8,764 | 7,992 |
Stock options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,663 | 29,742 | 52,611 | ' | ' | ' |
Stock option compensation expense | $24 | $13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost | $147 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost, recognition period | ' | ' | '2 years 9 months 18 days | ' | '1 year 10 months 24 days | '10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield | ' | ' | ' | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk free interest rate | ' | ' | ' | 2.30% | 1.34% | 1.43% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life, in years | ' | ' | ' | '6 years | '6 years | '7 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected volatility | ' | ' | ' | 28.93% | 28.79% | 31.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average fair value of options granted, per share | ' | ' | ' | $2.46 | $2.14 | $2.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for issuance | ' | ' | ' | ' | ' | ' | 361,019 | ' | ' | ' | ' | ' | ' | ' | ' |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Schedule Of Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Other Comprehensive Income (Loss) [Abstract] | ' | ' | ||
Unrealized holding (losses) gains on available for sale: Before Tax | $430 | ($68) | ||
Unrealized holding (losses) gains on available for sale: Tax Effect | -146 | 23 | ||
Unrealized holding (losses) gains on available for sale: Net of Tax | 284 | -45 | ||
Reclassification adjustment for realized gains | -31 | [1],[2] | ' | [1],[2] |
Reclassification adjustments for (losses) gains on securities transactions in net income: Tax Effect | 10 | [1],[2] | ' | [1],[2] |
Reclassification adjustments for (losses) gains on securities transactions in net income: Net of Tax | -21 | [1],[2] | ' | [1],[2] |
Total other comprehensive income (loss): Before Tax | 399 | -68 | ||
Total other comprehensive income (loss): Tax Effect | -136 | 23 | ||
Other comprehensive gain (loss), net of tax | $263 | ($45) | ||
[1] | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. | |||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other_Comprehensive_Income_Los3
Other Comprehensive Income (Loss) (Schedule Of The Realized (Gains) Losses On Securities Available For Sale, Net Of Tax) (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | ||
Other Comprehensive Income (Loss) [Abstract] | ' | ' | ||
Reclassification adjustment for realized gains | ($31) | [1],[2] | ' | [1],[2] |
Income taxes | 10 | [1],[2] | ' | [1],[2] |
Reclassification adjustments for (losses) gains on securities transactions in net income: Net of Tax | ($21) | [1],[2] | ' | [1],[2] |
[1] | Realized gains on securities transactions included in gain on sales of securities, net, in the accompanying Consolidated Statements of Income. | |||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other_Comprehensive_Income_Los4
Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Other Comprehensive Income (Loss) [Abstract] | ' | ' |
Beginning Balance | $540 | $2,282 |
Other comprehensive income before reclassifications | 284 | -45 |
Amounts reclassified from accumulated other comprehensive income | -21 | ' |
Other comprehensive gain (loss), net of tax | 263 | -45 |
Ending Balance | $803 | $2,237 |
Basic_And_Diluted_Earnings_Per2
Basic And Diluted Earnings Per Share (Earnings Per Share) (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Basic And Diluted Earnings Per Share [Abstract] | ' | ' |
Net income | $1,472 | $1,178 |
Weighted average shares outstanding | 7,331,495 | 7,242,231 |
Dilutive effect of potential common shares, stock options | 396 | 4,780 |
Diluted weighted average common shares outstanding | 7,331,891 | 7,247,011 |
Basic earnings per share | $0.20 | $0.16 |
Diluted earnings per share | $0.20 | $0.16 |
Stock Excluded from Diluted Earnings Per Share Computation | 124,494 | 149,692 |
Guarantees_Narrative_Details
Guarantees (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Guarantees [Abstract] | ' |
Guarantee obligation term | 'P1Y |
Letters of Credit Outstanding | $5.10 |
Maximum Potential Exposure | $4.60 |
Recovered_Sheet1
Short-term And Long-term Borrowings (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Line of Credit Facility [Line Items] | ' | ' |
Maximum borrowing capacity | $335,500,000 | ' |
Short-term advances with FHLB outstanding | 0 | 0 |
Long-term advances FHLB | 0 | 10,000,000 |
Federal Home Loan Bank Advances [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of credit, maximum borrowing capacity | 25,000,000 | ' |
Atlantic Central Bankers Bank Borrowings [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of credit, maximum borrowing capacity | 6,000,000 | ' |
Line of credit outstanding | 0 | ' |
Univest Bank and Trust Co. Borrowings [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of credit, maximum borrowing capacity | 10,000,000 | ' |
Line of credit outstanding | $3,700,000 | $3,900,000 |
Credit Security | '833,333 | ' |
Number of lines of credit | 2 | ' |
Securities_Available_For_Sale_1
Securities Available For Sale (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
security | ||
Securities Avaliable For Sale [Abstract] | ' | ' |
Realized gains | $31,000 | ' |
Realized losses | 0 | ' |
Securities in an unrealized loss position | 36 | ' |
Description of the securities in unrealized loss position | 'The Company had thirty-six (36) securities in an unrealized loss position at March 31, 2014. The unrealized losses are due only to market rate fluctuations. As of March 31, 2014, the Company either has the intent and ability to hold the securities until maturity or market price recovery, or believes that it is more likely than not that it will not be required to sell such securities. Management believes that the unrealized loss only represents temporary impairment of the securities. None of the individual losses are significant | ' |
Securities pledged as collateral | $57,400,000 | $43,600,000 |
Securities_Available_For_Sale_2
Securities Available For Sale (Amortized Cost and Fair Value of Securities Available-For-Sale) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $82,182 | $70,470 |
Gross Unrealized Gains | 1,615 | 1,344 |
Gross Unrealized Losses | -398 | -526 |
Fair Value, Total | 83,399 | 71,288 |
U.S Government agency obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 32,254 | 27,191 |
Gross Unrealized Gains | 95 | 118 |
Gross Unrealized Losses | -253 | -304 |
Fair Value, Total | 32,096 | 27,005 |
Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 39,415 | 32,220 |
Gross Unrealized Gains | 1,170 | 902 |
Gross Unrealized Losses | -145 | -222 |
Fair Value, Total | 40,440 | 32,900 |
U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 8,515 | 9,062 |
Gross Unrealized Gains | 329 | 300 |
Fair Value, Total | 8,844 | 9,362 |
Corporate bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,998 | 1,997 |
Gross Unrealized Gains | 21 | 24 |
Fair Value, Total | $2,019 | $2,021 |
Securities_Available_For_Sale_3
Securities Available For Sale (Securities Available-For-Sale by Contractual Maturity) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost, Due in one year or less | $3,503 | ' |
Amortized Cost, Due after one year through five years | 35,436 | ' |
Amortized Cost, Due after five years through ten years | 15,315 | ' |
Amortized Cost, Due after ten years | 19,413 | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 73,667 | ' |
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 8,515 | ' |
Amortized Cost, Total | 82,182 | 70,470 |
Fair Value, Due in one year or less | 3,514 | ' |
Fair Value, Due after one year through five years | 35,379 | ' |
Fair Value, Due after five years through ten years | 15,760 | ' |
Fair Value, Due after ten years | 19,902 | ' |
Available-for-sale Securities, Debt Securities | 74,555 | ' |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 8,844 | ' |
Fair Value, Total | 83,399 | 71,288 |
U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost, Total | 8,515 | 9,062 |
Fair Value, Total | $8,844 | $9,362 |
Securities_Available_For_Sale_4
Securities Available For Sale (Investments' Gross Unrealized Losses and Fair Value) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less Than 12 Months | $30,343 | $24,336 |
Fair Value, Total | 30,343 | 24,336 |
Unrealized Losses, Less Than 12 Months | -398 | -526 |
Unrealized Losses | -398 | -526 |
Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less Than 12 Months | 9,330 | 7,441 |
Fair Value, Total | 9,330 | 7,441 |
Unrealized Losses, Less Than 12 Months | -145 | -222 |
Unrealized Losses | -145 | -222 |
U.S Government agency obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value, Less Than 12 Months | 21,013 | 16,895 |
Fair Value, Total | 21,013 | 16,895 |
Unrealized Losses, Less Than 12 Months | -253 | -304 |
Unrealized Losses | ($253) | ($304) |
Restricted_Investment_In_Bank_1
Restricted Investment In Bank Stock (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Restricted Investment In Bank Stock [Abstract] | ' | ' |
FHLB stock repurchased | $882,000 | $0 |
Payments to Acquire Federal Home Loan Bank Stock | 0 | 0 |
Restricted stock dividends received | $13,000 | $1,000 |
Loans_Receivable_And_Credit_Qu2
Loans Receivable And Credit Quality (Composition Of Loans Receivable) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | $578,340 | $568,938 |
Percentage of Total Loans | 100.00% | 100.00% |
Unearned net loan origination fees | -290 | -355 |
Allowance for loan losses | -5,374 | -5,326 |
Net Loans Receivable | 572,676 | 563,257 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 236,489 | 235,545 |
Percentage of Total Loans | 40.89% | 41.40% |
Commercial Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 24,995 | 21,109 |
Percentage of Total Loans | 4.32% | 3.71% |
Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 29,235 | 28,017 |
Percentage of Total Loans | 5.05% | 4.92% |
Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | 286,696 | 283,421 |
Percentage of Total Loans | 49.57% | 49.82% |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross loans | $925 | $846 |
Percentage of Total Loans | 0.17% | 0.15% |
Loans_Receivable_And_Credit_Qu3
Loans Receivable And Credit Quality (Classes Of The Loan Portfolio Summarized By The Aggregate Risk Rating) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $578,340 | $568,938 |
Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 567,704 | 558,719 |
Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 2,158 | 2,729 |
Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 8,417 | 7,429 |
Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 61 | 61 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 236,489 | 235,545 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 230,599 | 229,987 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 702 | 703 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 5,127 | 4,794 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 61 | 61 |
Commercial Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 24,995 | 21,109 |
Commercial Construction [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 21,977 | 18,091 |
Commercial Construction [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 341 | 902 |
Commercial Construction [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 2,677 | 2,116 |
Commercial [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 29,235 | 28,017 |
Commercial [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 28,609 | 27,499 |
Commercial [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 476 | 480 |
Commercial [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 150 | 38 |
Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 286,696 | 283,421 |
Residential Real Estate [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 285,594 | 282,296 |
Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 639 | 644 |
Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 463 | 481 |
Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | 925 | 846 |
Consumer [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans and Leases Receivable, Gross | $925 | $846 |
Loans_Receivable_And_Credit_Qu4
Loans Receivable And Credit Quality (Impaired Loans By Loan Portfolio Class) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | $10,500 | ' |
Impaired loans with related allowance | 1,700 | ' |
Total Recorded Investment Impaired | 12,215 | 11,963 |
Total Unpaid Principal Balance Impaired | 12,822 | 12,552 |
Related Allowance Impaired | 398 | 405 |
Total Average Recorded Investment Impaired | 12,091 | 12,225 |
Total Interest Income Recognized Impaired | 153 | 595 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | 6,710 | 6,383 |
Impaired loans with related allowance | 618 | 623 |
Total Recorded Investment Impaired | 7,328 | 7,006 |
Unpaid Principal Balance, With no related allowance recorded | 7,063 | 6,737 |
Unpaid Principal Balance, With an allowance recorded | 618 | 623 |
Total Unpaid Principal Balance Impaired | 7,681 | 7,360 |
Related Allowance Impaired | 82 | 82 |
Average Recorded Investment, With no related allowance recorded | 6,431 | 6,321 |
Average Recorded Investment, With an allowance recorded | 737 | 881 |
Total Average Recorded Investment Impaired | 7,168 | 7,202 |
Interest Income Recognized, With no related allowance recorded | 79 | 302 |
Interest Income Recognized, With an allowance recorded | 28 | 114 |
Total Interest Income Recognized Impaired | 107 | 416 |
Commercial Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | 3,017 | 3,017 |
Total Recorded Investment Impaired | 3,017 | 3,017 |
Unpaid Principal Balance, With no related allowance recorded | 3,215 | 3,215 |
Total Unpaid Principal Balance Impaired | 3,215 | 3,215 |
Average Recorded Investment, With no related allowance recorded | 3,017 | 2,992 |
Average Recorded Investment, With an allowance recorded | ' | 325 |
Total Average Recorded Investment Impaired | 3,017 | 3,317 |
Interest Income Recognized, With no related allowance recorded | 26 | 106 |
Total Interest Income Recognized Impaired | 26 | 106 |
Commercial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | 166 | 171 |
Impaired loans with related allowance | ' | 38 |
Total Recorded Investment Impaired | 166 | 209 |
Unpaid Principal Balance, With no related allowance recorded | 166 | 170 |
Unpaid Principal Balance, With an allowance recorded | ' | 38 |
Total Unpaid Principal Balance Impaired | 166 | 208 |
Related Allowance Impaired | ' | 1 |
Average Recorded Investment, With no related allowance recorded | 169 | 241 |
Average Recorded Investment, With an allowance recorded | 19 | 15 |
Total Average Recorded Investment Impaired | 188 | 256 |
Interest Income Recognized, With no related allowance recorded | 2 | 8 |
Interest Income Recognized, With an allowance recorded | ' | 2 |
Total Interest Income Recognized Impaired | 2 | 10 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | 597 | 618 |
Impaired loans with related allowance | 1,107 | 1,113 |
Total Recorded Investment Impaired | 1,704 | 1,731 |
Unpaid Principal Balance, With no related allowance recorded | 653 | 656 |
Unpaid Principal Balance, With an allowance recorded | 1,107 | 1,113 |
Total Unpaid Principal Balance Impaired | 1,760 | 1,769 |
Related Allowance Impaired | 316 | 322 |
Average Recorded Investment, With no related allowance recorded | 608 | 465 |
Average Recorded Investment, With an allowance recorded | 1,110 | 985 |
Total Average Recorded Investment Impaired | 1,718 | 1,450 |
Interest Income Recognized, With no related allowance recorded | 8 | 26 |
Interest Income Recognized, With an allowance recorded | 10 | 37 |
Total Interest Income Recognized Impaired | 18 | 63 |
Consumer [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans without related allowance | ' | ' |
Impaired loans with related allowance | ' | ' |
Total Recorded Investment Impaired | ' | ' |
Unpaid Principal Balance, With no related allowance recorded | ' | ' |
Unpaid Principal Balance, With an allowance recorded | ' | ' |
Total Unpaid Principal Balance Impaired | ' | ' |
Related Allowance Impaired | ' | ' |
Average Recorded Investment, With no related allowance recorded | ' | ' |
Average Recorded Investment, With an allowance recorded | ' | ' |
Total Average Recorded Investment Impaired | ' | ' |
Interest Income Recognized, With no related allowance recorded | ' | ' |
Interest Income Recognized, With an allowance recorded | ' | ' |
Total Interest Income Recognized Impaired | ' | ' |
Loans_Receivable_And_Credit_Qu5
Loans Receivable And Credit Quality (Nonaccrual Loans By Classes Of The Loan Portfolio) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual Loans | $2,284 | $2,305 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual Loans | 1,671 | 1,635 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual Loans | 150 | 189 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-Accrual Loans | $463 | $481 |
Loans_Receivable_And_Credit_Qu6
Loans Receivable And Credit Quality (Loan Portfolio Summarized By The Past Due Status) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $1,107 | $776 |
60-89 Days Past Due | 1,061 | 3,037 |
Greater than 90 Days Past Due | 2,291 | 2,719 |
Total Past Due | 4,459 | 6,532 |
Current | 573,881 | 562,406 |
Total Loan Receivables | 578,340 | 568,938 |
Loans Receivable > 90 Days and Accruing | 350 | 763 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,103 | 776 |
60-89 Days Past Due | ' | 415 |
Greater than 90 Days Past Due | 1,678 | 2,049 |
Total Past Due | 2,781 | 3,240 |
Current | 233,708 | 232,305 |
Total Loan Receivables | 236,489 | 235,545 |
Loans Receivable > 90 Days and Accruing | 350 | 763 |
Commercial Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
60-89 Days Past Due | 1,061 | 2,622 |
Total Past Due | 1,061 | 2,622 |
Current | 23,934 | 18,487 |
Total Loan Receivables | 24,995 | 21,109 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Greater than 90 Days Past Due | 150 | 189 |
Total Past Due | 150 | 189 |
Current | 29,085 | 27,828 |
Total Loan Receivables | 29,235 | 28,017 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 4 | ' |
Greater than 90 Days Past Due | 463 | 481 |
Total Past Due | 467 | 481 |
Current | 286,229 | 282,940 |
Total Loan Receivables | 286,696 | 283,421 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Current | 925 | 846 |
Total Loan Receivables | $925 | $846 |
Loans_Receivable_And_Credit_Qu7
Loans Receivable And Credit Quality (Activity In Allowance For Loan Losses) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | $5,326 | $5,147 |
Charge-offs | -58 | -457 |
Recoveries | 1 | 41 |
Provision for loan losses | 105 | 280 |
Ending balance, | 5,374 | 5,011 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 1,791 | 2,007 |
Charge-offs | -2 | -260 |
Recoveries | ' | 13 |
Provision for loan losses | -7 | -284 |
Ending balance, | 1,782 | 1,476 |
Commercial Construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 495 | 660 |
Charge-offs | ' | -197 |
Provision for loan losses | 92 | 27 |
Ending balance, | 587 | 490 |
Commercial [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 349 | 394 |
Charge-offs | -38 | ' |
Recoveries | 1 | ' |
Provision for loan losses | 52 | 328 |
Ending balance, | 364 | 722 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 2,068 | 1,677 |
Charge-offs | -18 | ' |
Recoveries | ' | 28 |
Provision for loan losses | 44 | 54 |
Ending balance, | 2,094 | 1,759 |
Consumer [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 24 | 33 |
Provision for loan losses | -4 | 5 |
Ending balance, | 20 | 38 |
Unallocated Financing Receivables [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Beginning balance, | 599 | 376 |
Provision for loan losses | -72 | 150 |
Ending balance, | $527 | $526 |
Loans_Receivable_And_Credit_Qu8
Loans Receivable And Credit Quality (Allocation For Loan Losses And The Related Portfolio Disaggregated Based On Impairment Methodology) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | $5,374 | $5,326 | $5,011 | $5,147 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 398 | 405 | ' | ' |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 4,976 | 4,921 | ' | ' |
Total Loan Receivables | 578,340 | 568,938 | ' | ' |
Loans receivables, Ending balance: individually evaluated for impairment | 12,215 | 11,963 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 566,125 | 556,975 | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 1,782 | 1,791 | 1,476 | 2,007 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 82 | 82 | ' | ' |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 1,700 | 1,709 | ' | ' |
Total Loan Receivables | 236,489 | 235,545 | ' | ' |
Loans receivables, Ending balance: individually evaluated for impairment | 7,328 | 7,006 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 229,161 | 228,539 | ' | ' |
Commercial Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 587 | 495 | 490 | 660 |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 587 | 495 | ' | ' |
Total Loan Receivables | 24,995 | 21,109 | ' | ' |
Loans receivables, Ending balance: individually evaluated for impairment | 3,017 | 3,017 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 21,978 | 18,092 | ' | ' |
Commercial [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 364 | 349 | 722 | 394 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | ' | 1 | ' | ' |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 364 | 348 | ' | ' |
Total Loan Receivables | 29,235 | 28,017 | ' | ' |
Loans receivables, Ending balance: individually evaluated for impairment | 166 | 209 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 29,069 | 27,808 | ' | ' |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 2,094 | 2,068 | 1,759 | 1,677 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 316 | 322 | ' | ' |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 1,778 | 1,746 | ' | ' |
Total Loan Receivables | 286,696 | 283,421 | ' | ' |
Loans receivables, Ending balance: individually evaluated for impairment | 1,704 | 1,731 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 284,992 | 281,690 | ' | ' |
Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 20 | 24 | 38 | 33 |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | 20 | 24 | ' | ' |
Total Loan Receivables | 925 | 846 | ' | ' |
Loans receivables, Ending balance: collectively evaluated for impairment | 925 | 846 | ' | ' |
Unallocated Financing Receivables [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Allowance for Loan Losses, Ending Balance | 527 | 599 | 526 | 376 |
Allowance for Loan Losses, Ending balance: collectively evaluted for impairment | $527 | $599 | ' | ' |
Loans_Receivable_And_Credit_Qu9
Loans Receivable And Credit Quality (Troubled Debt Restructuring Outstanding) (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | $8,511 |
Available Commitments Outstanding on TDRs | '0 |
Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 8,018 |
Non-Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 493 |
Commercial Real Estate [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 5,315 |
Commercial Real Estate [Member] | Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 4,972 |
Commercial Real Estate [Member] | Non-Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 343 |
Commercial Construction [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 1,901 |
Commercial Construction [Member] | Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 1,901 |
Commercial [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 166 |
Commercial [Member] | Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 16 |
Commercial [Member] | Non-Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 150 |
Residential Real Estate [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | 1,129 |
Residential Real Estate [Member] | Accrual Loans [Member] | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' |
Total Modifications | $1,129 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value Measurements [Abstract] | ' | ' |
Impaired loans aggregate balance | $12,822,000 | $12,552,000 |
Impaired loans without related allowance | 10,500,000 | ' |
Impaired loans with related allowance | 1,700,000 | ' |
Related Allowance | $398,000 | $405,000 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | $83,399 | $71,288 |
U.S Government agency obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 32,096 | 27,005 |
Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 40,440 | 32,900 |
U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 8,844 | 9,362 |
Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 2,019 | 2,021 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | U.S Government agency obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 2) Significant Other Observable Inputs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 83,399 | 71,288 |
(Level 2) Significant Other Observable Inputs [Member] | U.S Government agency obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 32,096 | 27,005 |
(Level 2) Significant Other Observable Inputs [Member] | Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 40,440 | 32,900 |
(Level 2) Significant Other Observable Inputs [Member] | U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 8,844 | 9,362 |
(Level 2) Significant Other Observable Inputs [Member] | Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | 2,019 | 2,021 |
(Level 3) Significant Unobservable Inputs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 3) Significant Unobservable Inputs [Member] | U.S Government agency obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 3) Significant Unobservable Inputs [Member] | Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 3) Significant Unobservable Inputs [Member] | U.S. GSE - Mortgage-backed securities - residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
(Level 3) Significant Unobservable Inputs [Member] | Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities | ' | ' |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
FV determined through independent appraisals of the underlying collateral [Member] | Impaired Loan [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | $833 | [1] | $870 | [1] |
FV determined through independent appraisals of the underlying collateral [Member] | Other real estate owned [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | 592 | [1] | 659 | [1] |
FV determined through independent appraisals of the underlying collateral [Member] | (Level 3) Significant Unobservable Inputs [Member] | Impaired Loan [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | 833 | [1] | 870 | [1] |
FV determined through independent appraisals of the underlying collateral [Member] | (Level 3) Significant Unobservable Inputs [Member] | Other real estate owned [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | 592 | [1] | 659 | [1] |
FV determined using the debt service of the borrower [Member] | Impaired Loan [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | 494 | [2] | 499 | [2] |
FV determined using the debt service of the borrower [Member] | (Level 3) Significant Unobservable Inputs [Member] | Impaired Loan [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Asset fair value | $494 | [2] | $499 | [2] |
[1] | Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Fair values may also include qualitative adjustments by management based on economic conditions and liquidation expenses. | |||
[2] | Fair Value determined using the debt service of the borrower. |
Fair_Value_Measurements_Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements) (Details) ((Level 3) Significant Unobservable Inputs [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Asset fair value | $833 | |
Valuation Techniques | 'Appraisal of collateral | [1] |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Appraisal adjustments | 0.00% | [2] |
Liquidation expenses | 0.00% | [3] |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Appraisal adjustments | -25.00% | [2] |
Liquidation expenses | -10.00% | [3] |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Appraisal adjustments | -15.70% | [2] |
Liquidation expenses | -8.40% | [3] |
Impaired Loan [Member] | Income Approach Valuation Technique [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Asset fair value | 494 | |
Valuation Techniques | 'Discounted Cash Flows | [4] |
Other real estate owned [Member] | Market Approach Valuation Technique [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Asset fair value | $592 | |
Valuation Techniques | 'Listings, Letters of Intent & Third Party Evaluations | [5] |
Liquidation expenses | -5.00% | [3] |
Other real estate owned [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | |
Liquidation expenses | -5.00% | [3] |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | |
[2] | Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. | |
[3] | Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. | |
[4] | Fair value is determined using the debt service of the borrower. | |
[5] | Fair value is determined by listings, letters of intent or third-party evaluations. |
Fair_Value_Measurements_Estima
Fair Value Measurements (Estimated Fair Value Of Financial Instruments) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | $83,399 | $71,288 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 28,588 | 17,831 |
Securities available for sale | ' | ' |
(Level 2) Significant Other Observable Inputs [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Interest bearing time deposits | 1,831 | 1,830 |
Securities available for sale | 83,399 | 71,288 |
Restricted investment in bank stock | 1,275 | 2,157 |
Accrued interest receivable | 1,524 | 1,533 |
Deposits | 609,640 | 569,400 |
Securities sold under agreements to repurchase and federal funds purchased | 30,385 | 30,415 |
Short-term borrowings | ' | 10,000 |
Accrued interest payable | 268 | 235 |
(Level 3) Significant Unobservable Inputs [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | ' | ' |
Loans receivable, net of allowance | 574,291 | 563,444 |
Long-term borrowings | 3,567 | 3,797 |
Carrying Amount [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 28,583 | 17,831 |
Interest bearing time deposits | 1,826 | 1,822 |
Securities available for sale | 83,399 | 71,288 |
Loans receivable, net of allowance | 572,676 | 563,257 |
Restricted investment in bank stock | 1,275 | 2,157 |
Accrued interest receivable | 1,524 | 1,533 |
Deposits | 609,174 | 569,037 |
Securities sold under agreements to repurchase and federal funds purchased | 30,388 | 30,418 |
Short-term borrowings | ' | 10,000 |
Long-term borrowings | 3,650 | 3,900 |
Accrued interest payable | 268 | 235 |
Total Fair Value [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 28,588 | 17,831 |
Interest bearing time deposits | 1,831 | 1,830 |
Securities available for sale | 83,399 | 71,288 |
Loans receivable, net of allowance | 574,291 | 563,444 |
Restricted investment in bank stock | 1,275 | 2,157 |
Accrued interest receivable | 1,524 | 1,533 |
Deposits | 609,640 | 569,400 |
Securities sold under agreements to repurchase and federal funds purchased | 30,385 | 30,415 |
Short-term borrowings | ' | 10,000 |
Long-term borrowings | 3,567 | 3,797 |
Accrued interest payable | $268 | $235 |
Offsetting_Assets_And_Liabilit2
Offsetting Assets And Liabilities (Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Offsetting Liabilities [Line Items] | ' | ' |
Fair value of securities pledged | $33,900,000 | $34,300,000 |
Securities Sold Under Agreements To Repurchase [Member] | ' | ' |
Offsetting Liabilities [Line Items] | ' | ' |
Gross Amounts of Recognized Liabilities | 30,388,000 | 30,418,000 |
Gross Amounts Offset in the Consolidated Balance Sheet | ' | ' |
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | 30,388,000 | 30,418,000 |
Financial Instruments | -30,388,000 | -30,418,000 |
Cash Pledged | ' | ' |
Net Amount | ' | ' |