Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 07, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Embassy Bancorp, Inc. | |
Entity Central Index Key | 1,449,794 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 7,366,874 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 15,446 | $ 14,779 |
Interest bearing demand deposits with banks | 10 | 611 |
Federal funds sold | 1,000 | |
Cash and Cash Equivalents | 15,456 | 16,390 |
Interest bearing time deposits | 250 | 250 |
Securities available for sale | 83,727 | 77,197 |
Restricted investment in bank stock | 2,512 | 784 |
Loans receivable, net of allowance for loan losses of $5,700 in 2015; $5,614 in 2014 | 651,066 | 604,967 |
Premises and equipment, net of accumulated depreciation | 1,491 | 1,515 |
Bank owned life insurance | 12,127 | 11,938 |
Accrued interest receivable | 1,638 | 1,599 |
Other real estate owned | 1,201 | 1,106 |
Other assets | 3,596 | 3,348 |
Total Assets | 773,064 | 719,094 |
Liabilities: | ||
Deposits: Non-interest bearing | 75,714 | 68,467 |
Deposits: Interest bearing | 543,378 | 543,201 |
Total deposits | 619,092 | 611,668 |
Securities sold under agreements to repurchase | 33,795 | 30,304 |
Short-term borrowings | 44,440 | 9,000 |
Long-term borrowings | 6,355 | 1,900 |
Accrued interest payable | 337 | 349 |
Other liabilities | 5,149 | 4,541 |
Total Liabilities | 709,168 | 657,762 |
Stockholders' Equity: | ||
Common stock, $1 par value; authorized 20,000,000 shares; 2015 issued 7,366,874 shares; outstanding 7,366,874 shares;2014 issued 7,357,752 shares; outstanding 7,357,752 shares | 7,367 | 7,358 |
Surplus | 24,136 | 24,024 |
Retained earnings | 31,368 | 28,485 |
Accumulated other comprehensive income | 1,025 | 1,465 |
Total Stockholders' Equity | 63,896 | 61,332 |
Total Liabilities and Stockholders' Equity | $ 773,064 | $ 719,094 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Consolidated Balance Sheets [Abstract] | ||
Loans and Leases Receivable, Allowance | $ 5,700 | $ 5,614 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,366,874 | 7,357,752 |
Common Stock, Shares, Outstanding | 7,366,874 | 7,357,752 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST INCOME | ||||
Loans receivable, including fees | $ 6,332 | $ 5,939 | $ 12,627 | $ 11,723 |
Securities, taxable | 207 | 195 | 414 | 391 |
Securities, non-taxable | 304 | 334 | 607 | 617 |
Federal funds sold, and other | 15 | 18 | 64 | 37 |
Interest on time deposits | 1 | 5 | 1 | 9 |
Total Interest Income | 6,859 | 6,491 | 13,713 | 12,777 |
INTEREST EXPENSE | ||||
Deposits | 694 | 674 | 1,367 | 1,316 |
Securities sold under agreements to repurchase | 5 | 5 | 9 | 9 |
Short-term borrowings | 28 | 43 | 2 | |
Long-term borrowings | 33 | 69 | 68 | 142 |
Total Interest Expense | 760 | 748 | 1,487 | 1,469 |
Net Interest Income | 6,099 | 5,743 | 12,226 | 11,308 |
Provision for loan losses | 120 | 105 | 142 | 210 |
Net Interest Income after Provision for Loan Losses | 5,979 | 5,638 | 12,084 | 11,098 |
OTHER INCOME | ||||
Credit card processing fees | 412 | 356 | 775 | 689 |
Other service fees | 173 | 169 | 332 | 320 |
Bank owned life insurance | 91 | 54 | 189 | 121 |
Gain on sale of securities, net | 139 | 31 | ||
Profit (Loss) on sale of other real estate owned | 1 | (9) | 7 | (3) |
Impairment on other real estate owned | (42) | (9) | ||
Total Other Income | 677 | 570 | 1,400 | 1,149 |
OTHER EXPENSES | ||||
Salaries and employee benefits | 1,717 | 1,804 | 3,459 | 3,600 |
Occupancy and equipment | 594 | 615 | 1,223 | 1,244 |
Data processing | 444 | 320 | 803 | 625 |
Credit card processing | 393 | 318 | 747 | 619 |
Advertising and promotion | 381 | 280 | 673 | 530 |
Professional fees | 133 | 144 | 255 | 264 |
FDIC insurance | 78 | 98 | 165 | 198 |
Insurance | 13 | 14 | 27 | 27 |
Loan & real estate | 82 | 45 | 126 | 106 |
Charitable contributions | 142 | 127 | 351 | 321 |
Other real estate owned expenses | 4 | 10 | 40 | 17 |
Other | 341 | 286 | 559 | 501 |
Total Other Expenses | 4,322 | 4,061 | 8,428 | 8,052 |
Income before Income Taxes | 2,334 | 2,147 | 5,056 | 4,195 |
INCOME TAX EXPENSE | 656 | 599 | 1,437 | 1,175 |
Net Income | $ 1,678 | $ 1,548 | $ 3,619 | $ 3,020 |
BASIC EARNING PER SHARE | $ 0.23 | $ 0.21 | $ 0.49 | $ 0.41 |
DILUTED EARNINGS PER SHARE | 0.23 | 0.21 | 0.49 | 0.41 |
DIVIDENDS PER SHARE | $ 0.10 | $ 0.06 | $ 0.10 | $ 0.06 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |||
Consolidated Statements Of Comprehensive Income [Abstract] | ||||||
Net Income | $ 1,678 | $ 1,548 | $ 3,619 | $ 3,020 | ||
Change in Accumulated Other Comprehensive Income: | ||||||
Unrealized holding (loss) gain on securities available for sale | $ (865) | $ 722 | (527) | 1,152 | ||
Less: reclassification adjustment for realized gains | (139) | [1],[2] | (31) | [1],[2] | ||
Total other comprehensive income, before tax | $ (865) | $ 722 | (666) | 1,121 | ||
Income tax effect | 294 | (245) | 226 | (381) | ||
Net unrealized (loss) gain | (571) | 477 | (440) | 740 | ||
Other comprehensive (loss) gain, net of tax | (571) | 477 | (440) | 740 | ||
Comprehensive Income | $ 1,107 | $ 2,025 | $ 3,179 | $ 3,760 | ||
[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 Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Total |
BALANCE-Beginning at Dec. 31, 2013 | $ 7,324 | $ 23,671 | $ 22,520 | $ 540 | $ 54,055 |
Net income | 3,020 | 3,020 | |||
Other comprehensive loss, net of tax | 740 | 740 | |||
Dividend declared | (440) | (440) | |||
Compensation expense recognized on stock options | 48 | 48 | |||
Common stock grants to directors | 10 | 67 | 77 | ||
BALANCE-Ending at Jun. 30, 2014 | 7,334 | 23,786 | 25,100 | 1,280 | 57,500 |
BALANCE-Beginning at Dec. 31, 2014 | 7,358 | 24,024 | 28,485 | 1,465 | 61,332 |
Net income | 3,619 | 3,619 | |||
Other comprehensive loss, net of tax | (440) | (440) | |||
Dividend declared | (736) | (736) | |||
Compensation expense recognized on stock options | 25 | 25 | |||
Common stock grants to directors | 9 | 87 | 96 | ||
BALANCE-Ending at Jun. 30, 2015 | $ 7,367 | $ 24,136 | $ 31,368 | $ 1,025 | $ 63,896 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Consolidated Statements Of Stockholders' Equity [Abstract] | ||
Dividends declared per share | $ 0.10 | $ 0.06 |
Common stock grants to directors, shares | 9,122 | 10,209 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 3,619 | $ 3,020 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 142 | 210 |
Amortization (accretion) of deferred loan costs | 12 | (1) |
Depreciation and amortization | 306 | 340 |
Net amortization of investment security premiums and discounts | 105 | 81 |
Stock compensation expense | 25 | 48 |
Net realized (gain) loss on sale of other real estate owned | (7) | 3 |
Impairment on other real estate owned | 42 | 9 |
Income on bank owned life insurance | (189) | (121) |
Net realized gain on sale of securities available for sale | (139) | (31) |
Increase in accrued interest receivable | (39) | (59) |
Increase in other assets | (22) | (338) |
(Decrease) increase in accrued interest payable | (12) | 86 |
(Decrease) increase in other liabilities | (20) | 648 |
Net Cash Provided by Operating Activities | 3,823 | 3,895 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available for sale | (13,869) | (13,799) |
Maturities, calls and principal repayments of securities available for sale | 981 | 2,509 |
Proceeds from sales of securities available for sale | 5,726 | 528 |
Net increase in loans | (46,448) | (20,225) |
Net redemption (purchases) of restricted investment in bank stock | (1,728) | 772 |
Net maturities of interest bearing time deposits | 492 | |
Proceeds from sale of other real estate owned | 53 | 46 |
Purchases of premises and equipment | (282) | (82) |
Net Cash Used in Investing Activities | (55,567) | (29,759) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 7,424 | 37,263 |
Net increase (decrease) in securities sold under agreements to repurchase | 3,491 | (661) |
Increase (decrease) in short-term borrowed funds | 35,440 | (10,000) |
Proceeds from long-term borrowed funds | 5,455 | |
Payments of long-term borrowed funds | (1,000) | (500) |
Net Cash Provided by Financing Activities | 50,810 | 26,102 |
Net (Decrease) Increase in Cash and Cash Equivalents | (934) | 238 |
CASH AND CASH EQUIVALENTS - BEGINNING | 16,390 | 17,831 |
CASH AND CASH EQUIVALENTS - ENDING | 15,456 | 18,069 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ||
Interest paid | 1,500 | 1,383 |
Income taxes paid | 1,560 | 1,180 |
Other real estate sold through bank financing | $ 58 | |
Other real estate acquired in settlement of loans | $ 195 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
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 and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . 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, 2014 , included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 30, 2015 . In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after June 30, 2015 through the date these consolidated financial statements were issued. Certain amounts in the 2014 financial statements may have been reclassified to conform to 2015 presentation. These reclassifications had no effect on 2014 net income. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
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, 2014 . |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
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 Plans
Stock Incentive Plans | 6 Months Ended |
Jun. 30, 2015 | |
Stock Incentive Plans [Abstract] | |
Stock Incentive Plans | 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 2015 and 2014, February 2013 and 2012, the Company granted 9,122 , 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 2014, 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, 2014, 2013, 2012 and 2011. In January 2014, February 2013 and 2012, the Company also granted stock options to purchase 29,663 , 29,742 and 52,611 shares of stock to certain executive officers in accordance with their respective employment agreements. No stock options were granted in the six months ended June 30, 2015. S tock compensation expense related to the options granted was $ 1 0 thousand and $2 5 thousand for the three and six months ended June 30, 2015, respectively, and $24 thousand and $48 thousand for the three and six months ended June 30, 2014, respectively. At June 30, 2015 , approximately $ 48 thousand of unrecognized cost related to stock options granted in 2014 and 2013 will be recognized over the next 1.55 and 0.65 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 o f 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 June 30, 2015 , there were 351,897 shares available for issuance under the SIP. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 2014 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ $ $ $ $ $ Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive (loss) income $ $ $ $ $ $ Six Months Ended June 30, 2015 2014 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ $ $ $ $ $ Reclassification adjustments for gains on securities transactions included in net income (A),(B) Total other comprehensive (loss) income $ $ $ $ $ $ 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. There were no realized gains on securities available-for-sale for the three months ended June 30, 2015 and 2014 . A summary of the realized gains on securities available for sale, net of tax, for the six months ended June 30, 2015 and 2014 is as follows: Six Months Ended June 30, 2015 2014 (In Thousands) Securities available for sale: Realized gains on securities transactions $ $ Income taxes Net of tax $ $ A summary of the accumulated other comprehensive income, net of tax, is as follows: Securities Available for Sale Three Months Ended June 30, 2015 and 2014 (In Thousands) Balance March 31, 2015 $ Other comprehensive loss before reclassifications Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period Balance June 30, 2015 $ Balance March 31, 2014 $ Other comprehensive income before reclassifications Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period Balance June 30, 2014 $ Six Months Ended June 30, 2015 and 2014 Balance January 1, 2015 $ Other comprehensive loss before reclassifications Amounts reclassified from accumulated other comprehensive income Net other comprehensive loss during the period Balance June 30, 2015 $ Balance January 1, 2014 $ Other comprehensive income before reclassifications Amounts reclassified from accumulated other comprehensive income Net other comprehensive income during the period Balance June 30, 2014 $ |
Basic and Diluted Earnings Per
Basic and Diluted Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars In Thousands, Except Per Share Data) Net income $ $ $ $ Weighted average shares outstanding Dilutive effect of potential common shares, stock options Diluted weighted average common shares outstanding Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ Stock options of 9,122 and 94,752 for the three and six months ended June 30, 2015 and June 30, 2014 , respectively, were not considered in computing diluted earnings per common share because they are not dilutive to earnings. |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2015 | |
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 $4.2 million of standby letters of credit outstanding as of June 30, 2015 . The approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was $ 4.1 million. Management does not consider the current amount of the liability as of June 30, 2015 for guarantees under standby letters of credit issued to be material. |
Short-Term and Long-Term Borrow
Short-Term and Long-Term Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 , the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $ 370.5 million. This borrowing capacity with the FHLB includes a line of credit of $ 150.0 million. Short-term loans outstanding with FHLB totaled $44.4 million as of June 30, 2015 and $9.0 million were outstanding as of December 31, 2014 . The increase in short-term loans outstanding with the FHLB was primarily used to fund loan growth and investment security purchases. Long-term advances outstanding with FHLB totaled $ 5.5 million as of June 30, 2015 and no long-term advances were outstanding as of December 31, 2014 . All FHLB borrowings are secured by qualifying assets of the Bank. The Bank has a federal funds line of credit with the Atlantic Community Bankers Bank (“ACBB”) of approximately $ 10.0 million, of which none was outstanding at June 30, 2015 and December 31, 2014 . 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 June 30, 2015 and December 31, 2014 , the outstanding balance was $900 thousand and $ 1.9 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. The components of long-term borrowings with the FHLB at June 30, 2015 are as follows: June 30, 2015 (Dollars in Thousands) Maturity Date Interest Rate Outstanding April 2016 0.26% $ April 2017 0.48% April 2018 0.69% April 2019 0.88% April 2020 1.06% Total Outstanding Borrowings $ The components of long-term borrowings with Univest at June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 December 31, 2014 (Dollars in Thousands) Maturity Date Interest Rate Outstanding Interest Rate Outstanding November 2015 7.50% $ 7.50% $ |
Securities Available For Sale
Securities Available For Sale | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Note 9 – Securities Available For Sale At June 30, 2015 and December 31, 2014 , 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) June 30, 2015 : U.S. Government agency obligations $ $ $ $ Municipal bonds U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - Corporate bonds - Total $ $ $ $ December 31, 2014 : U.S. Government agency obligations $ $ $ $ Municipal bonds U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - Corporate bonds - Total $ $ $ $ The amortized cost and fair value of securities as of June 30, 2015 , 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 $ $ Due after one year through five years Due after five years through ten years Due after ten years U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential $ $ There were no gains realized in the three months ended June 30, 2015 and June 30, 2014. Gross gains of $139 thousand and $31 thousand were realized on sales of securities for the six months ended June 30, 2015 and June 30, 2014, respectively. There were no gross losses on the sales of securities during the six months ended June 30, 2015 and June 30, 2014. Securities with a carrying value of $65.4 million and $ 62.7 million at June 30, 2015 and December 31, 2014 , 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 June 30, 2015 and December 31, 2014 , respectively: Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses June 30, 2015 : (In Thousands) U.S. Government agency obligations $ $ $ $ $ $ Municipal bonds - - Corporate Bonds - - Total Temporarily Impaired Securities $ $ $ $ $ $ December 31, 2014 : U.S. Government agency obligations $ $ $ $ $ $ Municipal bonds - - Corporate Bonds - - Total Temporarily Impaired Securities $ $ $ $ $ $ The Company had twenty-five (25) securities in an unrealized loss position at June 30, 2015 . The unrealized losses are due only to market rate fluctuations. As of June 30, 2015 , 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 S
Restricted Investment In Bank Stock | 6 Months Ended |
Jun. 30, 2015 | |
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 Community 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 $114 thousand repurchased during the three and six months ended June 30, 2015, respectively, and $224 thousand and $1.1 million was repurchased during the three and six months ended June 30, 2014 , respectively. S tock purchases of $983 thousand and $1.8 million were made during the three and six months ended June 30, 2015, respectively, and $335 thousand during the three and six months ending June 30, 2014 , respectively. Dividend payments of $13 and $58 thousand were received during the three and six months ended June 30, 2015, respectively, and $14 thousand and $27 thousand were received during the three and six months ended June 30, 2014 , 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 June 30, 2015 . |
Loans Receivable And Credit Qua
Loans Receivable And Credit Quality | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 and December 31, 2014 , respectively: June 30, 2015 December 31, 2014 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ $ Commercial construction Commercial Residential real estate Consumer Total loans Unearned origination fees Allowance for loan losses $ $ 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 June 30, 2015 and December 31, 2014 , respectively: Pass Special Mention Substandard Doubtful Total June 30, 2015 (In Thousands) Commercial real estate $ $ $ $ - $ Commercial construction - - Commercial - - Residential real estate - - Consumer - - - Total $ $ $ $ - $ December 31, 2014 Commercial real estate $ $ $ $ - $ Commercial construction - - Commercial - - Residential real estate - Consumer - - - Total $ $ $ $ - $ The following table summarizes information in regards to impaired loans by loan portfolio class as of June 30, 2015 and December 31, 2014 , respectively: Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized June 30, 2015 (In Thousands) With no related allowance recorded: Commercial real estate $ $ $ $ $ $ Commercial construction Commercial - - - - - Residential real estate Consumer - - - - - - With an allowance recorded: Commercial real estate $ $ $ $ $ $ $ - Commercial construction - - - - - - - Commercial Residential real estate Consumer - - - - - - - Total: Commercial real estate $ $ $ $ $ $ $ Commercial construction - Commercial Residential real estate Consumer - - - - - - - $ $ $ $ $ $ $ December 31, 2014 With no related allowance recorded: Commercial real estate $ $ $ $ Commercial construction Commercial Residential real estate Consumer - - - - With an allowance recorded: Commercial real estate $ $ $ $ $ Commercial construction - - - - - Commercial Residential real estate Consumer - - - - - Total: Commercial real estate $ $ $ $ $ Commercial construction - Commercial Residential real estate Consumer - - - - - $ $ $ $ $ The following table presents non-accrual loans by classes of the loan portfolio: June 30, 2015 December 31, 2014 (In Thousands) Commercial real estate $ $ Commercial construction - - Commercial Residential real estate Consumer - - Total $ $ 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 June 30, 2015 and December 31, 2014 , respectively: 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loan Receivables Loan Receivables > 90 Days and Accruing June 30, 2015 (In Thousands) Commercial real estate $ $ - $ $ $ $ $ - Commercial construction - - - Commercial - - Residential real estate - Consumer - - - Total $ $ $ $ $ $ $ - December 31, 2014 Commercial real estate $ $ $ $ $ $ $ - Commercial construction - - - Commercial - - - Residential real estate - Consumer - - - Total $ $ $ $ $ $ $ - The following tables detail the activity in the allowance for loan losses for the three and six months ended June 30, 2015 and 2014 : Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending June 30, 2015 Beginning Balance - March 31, 2015 $ $ $ $ $ $ $ Charge-offs - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2015 $ $ $ $ $ $ $ Six Months Ending June 30, 2015 Beginning Balance - December 31, 2014 $ $ $ $ $ $ $ Charge-offs - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2015 $ $ $ $ $ $ $ Three Months Ending June 30, 2014 Beginning Balance - March 31, 2014 $ $ $ $ $ $ $ Charge-offs - - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2014 $ $ $ $ $ $ $ Six Months Ending June 30, 2014 Beginning Balance - December 31, 2013 $ $ $ $ $ $ $ Charge-offs - - - Recoveries - - - - - Provisions Ending Balance - June 30, 2014 $ $ $ $ $ $ $ The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at June 30, 2015 and December 31, 2014 . Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) June 30, 2015 Allowance for Loan Losses Ending Balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ - $ $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Loans receivables: Ending balance $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ December 31, 2014 Allowance for Loan Losses Ending Balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ - $ $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Loans receivables: Ending balance $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ Starting with the allowance for loan losses calculation of March 31, 2015, management added a new qualitative factor into the calculation which resulted in a reduction of the unallocated portion of the allowance. This new factor was based on management's best judgment using relevant information available at the time of the evaluation and is supported through documentation in a narrative accompanying the allowance for loan loss calculation. 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: June 30, 2015 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ $ $ Commercial construction - Commercial - Residential real estate - Consumer - - - $ $ $ December 31, 2014 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ $ $ Commercial construction - Commercial - Residential real estate - Consumer - - - $ $ $ As of June 30, 2015 , no available commitments were outstanding on TDRs. There were no newly restructured loans that occurred during the three and six months ended June 30, 2015. The following table presents newly restructured loans that occurred during the three and six months ended June 30, 2014 . Number of Loans Pre-Modification Outstanding Balance Post- Modification Outstanding Balance (Dollars In Thousands) Three Months Ending June 30, 2014 Commercial 1 $ $ 1 $ $ Six Months Ending June 30, 2014 Commercial 1 $ $ 1 $ $ The commercial loan above was restructured through a rate reduction and payment modification. The impairment reserve on this TDR described was $55 thousand recorded in the allowance for loan loss for the three and six months ending June 30, 2014. 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 and six months ended June 30, 2015 and June 30, 2014. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 and December 31, 2014 , 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 $ - $ $ - $ Municipal bonds - - U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - - Corporate bonds - - June 30, 2015 Securities available for sale $ - $ $ - $ U.S. Government agency obligations $ - $ $ - $ Municipal bonds - - U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - - Corporate bonds - - December 31, 2014 Securities available for sale $ - $ $ - $ For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at June 30, 2015 and December 31, 2014 , 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) June 30, 2015 Impaired loans (1) $ - $ - $ $ June 30, 2015 Impaired loans (2) $ - $ - $ - $ - June 30, 2015 Other real estate owned (1) $ - $ - $ $ December 31, 2014 Impaired loans (1) $ - $ - $ $ December 31, 2014 Impaired loans (2) $ - $ - $ $ December 31, 2014 Other real estate owned (1) $ - $ - $ $ 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 June 30, 2015 , of the impaired loans having an aggregate balance of $7.9 million, $ 6.7 million did not require a valuation allowance because the value of the collateral, including estimated selling costs, securing the loan was determined to meet or exceed the balance owed on the loan. Of the remaining $ 1.2 million in impaired loans, an aggregate valuation allowance of $ 379 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 Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) June 30, 2015: Impaired loans $ Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% (-24.2%) Liquidation expenses (3) 0 to -8.5% (-7.6%) Other real estate owned $ Listings, Letters of Intent Liquidation expenses (3) -5% (-5%) & Third Party Evaluations (4) December 31, 2014: Impaired loans $ Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% (-17.6%) Liquidation expenses (3) 0 to -8.5% (-8.2%) Impaired loans $ Discounted Cash Flows (5) Other real estate owned $ Listings, Letters of Intent Liquidation expenses (3) -5% (-5%) & Third Party Evaluations (4) 1. Fair value is generally determined through independent appraisals of the underlying collateral, which generally include 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 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 June 30, 2015 and December 31, 2014 : 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 June 30, 2015 and December 31, 20 14 : (Level 1) Quoted (Level 2) (Level 3) Prices in Active Significant Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) June 30, 2015: Financial assets: Cash and cash equivalents $ $ $ $ - $ - Interest bearing time deposits - - Securities available-for-sale - - Loans receivable, net of allowance - - Restricted investments in bank stock - - Accrued interest receivable - - Financial liabilities: Deposits - - Securities sold under agreements to repurchase and federal funds purchased - - Short-term borrowings - - Long-term borrowings - - Accrued interest payable - - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2014: Financial assets: Cash and cash equivalents $ $ $ $ - $ - Interest bearing time deposits - - Securities available-for-sale - - Loans receivable, net of allowance - - Restricted investments in bank stock - - Accrued interest receivable - - Financial liabilities: Deposits - - Securities sold under agreements to repurchase and federal funds purchased - - Short-term borrowings - - Long-term borrowings - - Accrued interest payable - - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Offsetting Assets And Liabiliti
Offsetting Assets And Liabilities | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 and December 31, 2014 : Net Amounts Gross Gross Amounts of Liabilities Amounts of Offset in the Presented in the Cash Recognized Consolidated Consolidated Financial Collateral Liabilities Balance Sheet Balance Sheet Instruments Pledged Net Amount (In Thousands) June 30, 2015 Repurchase Agreements: Corporate Institutions $ $ - $ $ $ - $ - December 31, 2014 Repurchase Agreements: Corporate Institutions $ $ - $ $ $ - $ - As of June 30, 2015 and December 31, 2014 , the fair value of securities pledged was $35.4 million and $ 34.5 million, respectively. |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Standards [Abstract] | |
New Accounting Standards | Note 14 – New Accounting Standards In January 2014, the Financial Accounting Standards Board (FASB) issued an accounting standard update (ASU 2014-04) related to; Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The update applies to all creditors who obtain physical possession of residential real estate property collateralizing a consumer mortgage loan in satisfaction of a receivable. The amendments in this update clarify when an in-substance repossession or foreclosure occurs and requires disclosure of both (1) the amount of foreclosed residential real estate property held by a creditor and (2) 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 amendments in the update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. At June 30, 2015 and December 31, 2014 the Company had no foreclosed residential real estate held. At June 30, 2015 and December 31, 2014, the Company had $154 thousand and $375 thousand, respectively in recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. In May 2014, FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606). ASU 2014-09 affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles—Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. For a public business entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. The Company is currently analyzing the impact of the guidance on its financial statements. An entity should apply the amendments in this ASU using one of the following two methods: Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients: · For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period. · For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods. · For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of: · The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change. · An explanation of the reasons for significant changes. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 6 Months Ended |
Jun. 30, 2015 | |
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 and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . |
Other Comprehensive Income (L24
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Other Comprehensive Income (Loss) [Abstract] | |
Schedule of Comprehensive Income (Loss) | Three Months Ended June 30, 2015 2014 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ $ $ $ $ $ Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive (loss) income $ $ $ $ $ $ Six Months Ended June 30, 2015 2014 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ $ $ $ $ $ Reclassification adjustments for gains on securities transactions included in net income (A),(B) Total other comprehensive (loss) income $ $ $ $ $ $ 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 | Six Months Ended June 30, 2015 2014 (In Thousands) Securities available for sale: Realized gains on securities transactions $ $ Income taxes Net of tax $ $ |
Schedule of Accumulated Other Comprehensive Income, Net Of Tax | Securities Available for Sale Three Months Ended June 30, 2015 and 2014 (In Thousands) Balance March 31, 2015 $ Other comprehensive loss before reclassifications Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period Balance June 30, 2015 $ Balance March 31, 2014 $ Other comprehensive income before reclassifications Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period Balance June 30, 2014 $ Six Months Ended June 30, 2015 and 2014 Balance January 1, 2015 $ Other comprehensive loss before reclassifications Amounts reclassified from accumulated other comprehensive income Net other comprehensive loss during the period Balance June 30, 2015 $ Balance January 1, 2014 $ Other comprehensive income before reclassifications Amounts reclassified from accumulated other comprehensive income Net other comprehensive income during the period Balance June 30, 2014 $ |
Basic And Diluted Earnings Pe25
Basic And Diluted Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (Dollars In Thousands, Except Per Share Data) Net income $ $ $ $ Weighted average shares outstanding Dilutive effect of potential common shares, stock options Diluted weighted average common shares outstanding Basic earnings per share $ $ $ $ Diluted earnings per share $ $ $ $ |
Short-Term And Long-Term Borr26
Short-Term And Long-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Federal Home Loan Bank [Member] | |
Components Of Long-Term Borrowings | June 30, 2015 (Dollars in Thousands) Maturity Date Interest Rate Outstanding April 2016 0.26% $ April 2017 0.48% April 2018 0.69% April 2019 0.88% April 2020 1.06% Total Outstanding Borrowings $ |
Univest Bank and Trust Co. Borrowings [Member] | |
Components Of Long-Term Borrowings | June 30, 2015 December 31, 2014 (Dollars in Thousands) Maturity Date Interest Rate Outstanding Interest Rate Outstanding November 2015 7.50% $ 7.50% $ |
Securities Available For Sale (
Securities Available For Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Securities Available 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) June 30, 2015 : U.S. Government agency obligations $ $ $ $ Municipal bonds U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - Corporate bonds - Total $ $ $ $ December 31, 2014 : U.S. Government agency obligations $ $ $ $ Municipal bonds U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - Corporate bonds - Total $ $ $ $ |
Securities Available-For-Sale By Contractual Maturity | Amortized Fair Cost Value (In Thousands) Due in one year or less $ $ Due after one year through five years Due after five years through ten years Due after ten years U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential $ $ |
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 June 30, 2015 : (In Thousands) U.S. Government agency obligations $ $ $ $ $ $ Municipal bonds - - Corporate Bonds - - Total Temporarily Impaired Securities $ $ $ $ $ $ December 31, 2014 : U.S. Government agency obligations $ $ $ $ $ $ Municipal bonds - - Corporate Bonds - - Total Temporarily Impaired Securities $ $ $ $ $ $ |
Loans Receivable And Credit Q28
Loans Receivable And Credit Quality (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans Receivable And Credit Quality [Abstract] | |
Composition Of Loans Receivable | June 30, 2015 December 31, 2014 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ $ Commercial construction Commercial Residential real estate Consumer Total loans Unearned origination fees Allowance for loan losses $ $ |
Schedule Of Loan Portfolio By Aggregate Risk Rating | Pass Special Mention Substandard Doubtful Total June 30, 2015 (In Thousands) Commercial real estate $ $ $ $ - $ Commercial construction - - Commercial - - Residential real estate - - Consumer - - - Total $ $ $ $ - $ December 31, 2014 Commercial real estate $ $ $ $ - $ Commercial construction - - Commercial - - Residential real estate - Consumer - - - Total $ $ $ $ - $ |
Schedule Of Impaired Loans | Quarter to Date Year to Date Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized June 30, 2015 (In Thousands) With no related allowance recorded: Commercial real estate $ $ $ $ $ $ Commercial construction Commercial - - - - - Residential real estate Consumer - - - - - - With an allowance recorded: Commercial real estate $ $ $ $ $ $ $ - Commercial construction - - - - - - - Commercial Residential real estate Consumer - - - - - - - Total: Commercial real estate $ $ $ $ $ $ $ Commercial construction - Commercial Residential real estate Consumer - - - - - - - $ $ $ $ $ $ $ December 31, 2014 With no related allowance recorded: Commercial real estate $ $ $ $ Commercial construction Commercial Residential real estate Consumer - - - - With an allowance recorded: Commercial real estate $ $ $ $ $ Commercial construction - - - - - Commercial Residential real estate Consumer - - - - - Total: Commercial real estate $ $ $ $ $ Commercial construction - Commercial Residential real estate Consumer - - - - - $ $ $ $ $ |
Schedule Of Nonaccrual Loans | June 30, 2015 December 31, 2014 (In Thousands) Commercial real estate $ $ Commercial construction - - Commercial Residential real estate Consumer - - Total $ $ |
Schedule Of Past Due Loans | 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loan Receivables Loan Receivables > 90 Days and Accruing June 30, 2015 (In Thousands) Commercial real estate $ $ - $ $ $ $ $ - Commercial construction - - - Commercial - - Residential real estate - Consumer - - - Total $ $ $ $ $ $ $ - December 31, 2014 Commercial real estate $ $ $ $ $ $ $ - Commercial construction - - - Commercial - - - Residential real estate - Consumer - - - Total $ $ $ $ $ $ $ - |
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 June 30, 2015 Beginning Balance - March 31, 2015 $ $ $ $ $ $ $ Charge-offs - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2015 $ $ $ $ $ $ $ Six Months Ending June 30, 2015 Beginning Balance - December 31, 2014 $ $ $ $ $ $ $ Charge-offs - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2015 $ $ $ $ $ $ $ Three Months Ending June 30, 2014 Beginning Balance - March 31, 2014 $ $ $ $ $ $ $ Charge-offs - - - - - Recoveries - - - - - - - Provisions Ending Balance - June 30, 2014 $ $ $ $ $ $ $ Six Months Ending June 30, 2014 Beginning Balance - December 31, 2013 $ $ $ $ $ $ $ Charge-offs - - - Recoveries - - - - - Provisions Ending Balance - June 30, 2014 $ $ $ $ $ $ $ |
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) June 30, 2015 Allowance for Loan Losses Ending Balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ - $ $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Loans receivables: Ending balance $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ December 31, 2014 Allowance for Loan Losses Ending Balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ - $ $ $ - $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Loans receivables: Ending balance $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ $ $ $ - $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ |
Troubled Debt Restructuring Outstanding | June 30, 2015 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ $ $ Commercial construction - Commercial - Residential real estate - Consumer - - - $ $ $ December 31, 2014 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ $ $ Commercial construction - Commercial - Residential real estate - Consumer - - - $ $ $ |
Newly Restructured Loans | Number of Loans Pre-Modification Outstanding Balance Post- Modification Outstanding Balance (Dollars In Thousands) Three Months Ending June 30, 2014 Commercial 1 $ $ 1 $ $ Six Months Ending June 30, 2014 Commercial 1 $ $ 1 $ $ |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 $ - $ $ - $ Municipal bonds - - U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - - Corporate bonds - - June 30, 2015 Securities available for sale $ - $ $ - $ U.S. Government agency obligations $ - $ $ - $ Municipal bonds - - U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - - Corporate bonds - - December 31, 2014 Securities available for sale $ - $ $ - $ |
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) June 30, 2015 Impaired loans (1) $ - $ - $ $ June 30, 2015 Impaired loans (2) $ - $ - $ - $ - June 30, 2015 Other real estate owned (1) $ - $ - $ $ December 31, 2014 Impaired loans (1) $ - $ - $ $ December 31, 2014 Impaired loans (2) $ - $ - $ $ December 31, 2014 Other real estate owned (1) $ - $ - $ $ 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 Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) June 30, 2015: Impaired loans $ Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% (-24.2%) Liquidation expenses (3) 0 to -8.5% (-7.6%) Other real estate owned $ Listings, Letters of Intent Liquidation expenses (3) -5% (-5%) & Third Party Evaluations (4) December 31, 2014: Impaired loans $ Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% (-17.6%) Liquidation expenses (3) 0 to -8.5% (-8.2%) Impaired loans $ Discounted Cash Flows (5) Other real estate owned $ Listings, Letters of Intent Liquidation expenses (3) -5% (-5%) & Third Party Evaluations (4) 1. Fair value is generally determined through independent appraisals of the underlying collateral, which generally include 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 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 | (Level 1) Quoted (Level 2) (Level 3) Prices in Active Significant Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) June 30, 2015: Financial assets: Cash and cash equivalents $ $ $ $ - $ - Interest bearing time deposits - - Securities available-for-sale - - Loans receivable, net of allowance - - Restricted investments in bank stock - - Accrued interest receivable - - Financial liabilities: Deposits - - Securities sold under agreements to repurchase and federal funds purchased - - Short-term borrowings - - Long-term borrowings - - Accrued interest payable - - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2014: Financial assets: Cash and cash equivalents $ $ $ $ - $ - Interest bearing time deposits - - Securities available-for-sale - - Loans receivable, net of allowance - - Restricted investments in bank stock - - Accrued interest receivable - - Financial liabilities: Deposits - - Securities sold under agreements to repurchase and federal funds purchased - - Short-term borrowings - - Long-term borrowings - - Accrued interest payable - - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Offsetting Assets And Liabili30
Offsetting Assets And Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 Cash Recognized Consolidated Consolidated Financial Collateral Liabilities Balance Sheet Balance Sheet Instruments Pledged Net Amount (In Thousands) June 30, 2015 Repurchase Agreements: Corporate Institutions $ $ - $ $ $ - $ - December 31, 2014 Repurchase Agreements: Corporate Institutions $ $ - $ $ $ - $ - |
Basis Of Presentation (Details)
Basis Of Presentation (Details) | 6 Months Ended |
Jun. 30, 2015 | |
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 | Nov. 11, 2008 |
Stock Incentive Plans (Details)
Stock Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2015 | Jan. 31, 2014 | Feb. 28, 2013 | Feb. 29, 2012 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Stock option compensation expense | $ 10 | $ 24 | $ 25 | $ 48 | |||||||||
Unrecognized compensation cost | $ 48 | $ 48 | |||||||||||
Stock Options [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Stock options granted | 0 | ||||||||||||
Unrecognized compensation cost, recognition period | 1 year 6 months 18 days | 7 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 | ||||||||||
Stock Incentive Plan [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Award expiration period | 10 years | ||||||||||||
Number of shares authorized | 500,000 | 500,000 | |||||||||||
Award expiration date | Jun. 15, 2020 | ||||||||||||
Awards granted | 0 | 0 | |||||||||||
Shares available for issuance | 351,897 | 351,897 | |||||||||||
Stock Incentive Plan [Member] | Stock Options [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Stock options granted | 29,663 | 29,742 | 52,611 | ||||||||||
Stock Incentive Plan [Member] | Restricted Stock [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Awards granted | 9,122 | 10,209 | 8,764 | 7,992 |
Other Comprehensive Income (L33
Other Comprehensive Income (Loss) (Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |||
Other Comprehensive Income (Loss) [Abstract] | ||||||
Unrealized holding gains on available for sale, Before Tax | $ (865) | $ 722 | $ (527) | $ 1,152 | ||
Unrealized holding gains on available for sale, Tax Effect | 294 | (245) | 179 | (391) | ||
Unrealized holding gains on available for sale, Net of Tax | $ (571) | $ 477 | (348) | 761 | ||
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | (139) | [1],[2] | (31) | [1],[2] | ||
Reclassification adjustments for gains on securities transactions in net income: Tax Effect | 47 | [1],[2] | 10 | [1],[2] | ||
Reclassification adjustments for gains on securities transactions in net income: Net of Tax | (92) | [1],[2] | (21) | [1],[2] | ||
Total other comprehensive income, before tax | $ (865) | $ 722 | (666) | 1,121 | ||
Total other comprehensive income, Tax Effect | 294 | (245) | 226 | (381) | ||
Other comprehensive (loss) gain, net of tax | $ (571) | $ 477 | $ (440) | $ 740 | ||
[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 (L34
Other Comprehensive Income (Loss) (Schedule of the Realized (Gains) Losses on Securities Available For Sale, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | [1],[2] | Jun. 30, 2014 | [1],[2] | |
Other Comprehensive Income (Loss) [Abstract] | ||||||
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | $ (139) | $ (31) | ||||
Income taxes | 47 | 10 | ||||
Reclassification adjustments for gains on securities transactions in net income: Net of Tax | $ (92) | $ (21) | ||||
[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 (L35
Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Other Comprehensive Income (Loss) [Abstract] | ||||
Beginning Balance | $ 1,596 | $ 803 | $ 1,465 | $ 540 |
Other comprehensive income before reclassifications | (571) | 477 | (348) | 761 |
Amounts reclassified from accumulated other comprehensive income | (92) | (21) | ||
Other comprehensive (loss) gain, net of tax | (571) | 477 | (440) | 740 |
Ending Balance | $ 1,025 | $ 1,280 | $ 1,025 | $ 1,280 |
Basic And Diluted Earnings Pe36
Basic And Diluted Earnings Per Share (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Basic And Diluted Earnings Per Share [Abstract] | ||||
Net income | $ 1,678 | $ 1,548 | $ 3,619 | $ 3,020 |
Weighted average shares outstanding | 7,367,000 | 7,333,000 | 7,366,000 | 7,332,000 |
Dilutive effect of potential common shares, stock options | 33,000 | 7,000 | 32,000 | 6,000 |
Diluted weighted average common shares outstanding | 7,400,000 | 7,340,000 | 7,398,000 | 7,338,000 |
Basic earnings per share | $ 0.23 | $ 0.21 | $ 0.49 | $ 0.41 |
Diluted earnings per share | $ 0.23 | $ 0.21 | $ 0.49 | $ 0.41 |
Stock Excluded from Diluted Earnings Per Share Computation | 9,122 | 94,752 | 9,122 | 94,752 |
Guarantees (Details)
Guarantees (Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total |
Guarantees [Abstract] | |
Guarantee obligations term | 1 year |
Letters of Credit Outstanding | $ 4.2 |
Maximum Potential Exposure | $ 4.1 |
Short-Term And Long-Term Borr38
Short-Term And Long-Term Borrowings (Narrative) (Details) $ in Thousands | Jun. 30, 2015USD ($)itemshares | Dec. 31, 2014USD ($) |
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 370,500 | |
Short-term borrowings | 44,440 | $ 9,000 |
Long-term advances FHLB | 5,455 | 0 |
Federal Home Loan Bank Advances [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | 150,000 | |
Atlantic Community Bankers Bank Borrowings [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | 10,000 | |
Line of credit outstanding | 0 | 0 |
Univest Bank and Trust Co. Borrowings [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | $ 10,000 | |
Line of credit outstanding | $ 1,900 | |
Credit Security | shares | 833,333 | |
Number of lines of credit | item | 2 |
Short-Term And Long-Term Borr39
Short-Term And Long-Term Borrowings (Components Of Long-Term Borrowings With FHLB) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
April 2,016 | $ 1,667 | |
April 2,017 | 917 | |
April 2,018 | 945 | |
April 2,019 | 959 | |
April 2,020 | 967 | |
Long-term Federal Home Loan Bank Advances, Total | $ 5,455 | $ 0 |
April 2016 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Interest rate | 0.26% | |
April 2017 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Interest rate | 0.48% | |
April 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Interest rate | 0.69% | |
April 2019 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Interest rate | 0.88% | |
April 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Interest rate | 1.06% |
Short-Term And Long-Term Borr40
Short-Term And Long-Term Borrowings (Components Of Long-Term Borrowings With Univest) (Details) - Univest Bank and Trust Co. Borrowings [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Line of Credit Facility [Line Items] | ||
Line of credit outstanding | $ 1,900 | |
November 2015 Maturity Date [Member] | ||
Line of Credit Facility [Line Items] | ||
Interest Rate | 7.50% | 7.50% |
Line of credit outstanding | $ 900 | $ 1,900 |
Securities Available For Sale41
Securities Available For Sale (Narrative) (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Securities Available For Sale [Abstract] | |||||
Realized gains | $ 0 | $ 0 | $ 139,000 | $ 31,000 | |
Realized losses | $ 0 | $ 0 | |||
Securities in an unrealized loss position | security | 25 | 25 | |||
Securities pledged as collateral | $ 65,400,000 | $ 65,400,000 | $ 62,700,000 | ||
Description of the securities in unrealized loss position | The Company had twenty-five (25) securities in an unrealized loss position at June 30, 2015. The unrealized losses are due only to market rate fluctuations. As of June 30, 2015, 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 Available For Sale42
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | $ 82,174 | $ 74,978 |
Gross Unrealized Gains | 1,867 | 2,402 |
Gross Unrealized Losses | (314) | (183) |
Fair Value | 83,727 | 77,197 |
U.S Government agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 37,662 | 30,192 |
Gross Unrealized Gains | 76 | 46 |
Gross Unrealized Losses | (61) | (162) |
Fair Value | 37,677 | 30,076 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 41,972 | 36,618 |
Gross Unrealized Gains | 1,608 | 2,023 |
Gross Unrealized Losses | (243) | (17) |
Fair Value | 43,337 | 38,624 |
U.S. GSE - Mortgage-backed securities - residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 1,540 | 7,168 |
Gross Unrealized Gains | 183 | 333 |
Fair Value | 1,723 | 7,501 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 1,000 | 1,000 |
Gross Unrealized Losses | (10) | (4) |
Fair Value | $ 990 | $ 996 |
Securities Available For Sale43
Securities Available For Sale (Securities Available-For-Sale by Contractual Maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Available For Sale [Abstract] | ||
Amortized Cost, Due in one year or less | $ 5,574 | |
Amortized Cost, Due after one year through five years | 40,132 | |
Amortized Cost, Due after five years through ten years | 17,156 | |
Amortized Cost, Due after ten years | 17,772 | |
Amortized Cost, Debt Maturities, Total | 80,634 | |
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 1,540 | |
Amortized Cost, Total | 82,174 | $ 74,978 |
Fair Value, Due in one year or less | 5,577 | |
Fair Value, Due after one year through five years | 40,235 | |
Fair Value, Due after five years through ten years | 17,692 | |
Fair Value, Due after ten years | 18,500 | |
Fair Value, Debt maturities, Total | 82,004 | |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 1,723 | |
Fair Value, Total | $ 83,727 | $ 77,197 |
Securities Available For Sale44
Securities Available For Sale (Investments' Gross Unrealized Losses and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | $ 23,548 | $ 15,057 |
Fair Value, 12 Months or More | 3,030 | 9,959 |
Fair Value, Total | 26,578 | 25,016 |
Unrealized Losses, Less Than 12 Months | (303) | (65) |
Unrealized Losses, 12 Months or More | (11) | (118) |
Unrealized Losses | (314) | (183) |
U.S Government agency obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 15,495 | 11,074 |
Fair Value, 12 Months or More | 3,030 | 9,959 |
Fair Value, Total | 18,525 | 21,033 |
Unrealized Losses, Less Than 12 Months | (50) | (44) |
Unrealized Losses, 12 Months or More | (11) | (118) |
Unrealized Losses | (61) | (162) |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 7,063 | 2,987 |
Fair Value, Total | 7,063 | 2,987 |
Unrealized Losses, Less Than 12 Months | (243) | (17) |
Unrealized Losses | (243) | (17) |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 990 | 996 |
Fair Value, Total | 990 | 996 |
Unrealized Losses, Less Than 12 Months | (10) | (4) |
Unrealized Losses | $ (10) | $ (4) |
Restricted Investment In Bank45
Restricted Investment In Bank Stock (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Restricted Investment In Bank Stock [Abstract] | ||||
FHLB stock repurchased | $ 114 | $ 224 | $ 114 | $ 1,100 |
Payments to Acquire Federal Home Loan Bank Stock | 983 | 335 | 1,800 | 335 |
Restricted stock dividends received | $ 13 | $ 14 | $ 58 | $ 27 |
Loans Receivable And Credit Q46
Loans Receivable And Credit Quality (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)loan | Jun. 30, 2014USD ($)loan | Jun. 30, 2015USD ($)loan | Jun. 30, 2014USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||||
Available Commitments Outstanding on TDRs | $ 0 | $ 0 | ||
Number of Loans | loan | 0 | 1 | 0 | 1 |
Provision for Loan and Lease Losses | $ 120 | $ 105 | $ 142 | $ 210 |
Number of Loans experiencing payment default | loan | 0 | 0 | 0 | 0 |
Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | loan | 1 | 1 | ||
Provision for Loan and Lease Losses | $ 55 | $ 55 |
Loans Receivable And Credit Q47
Loans Receivable And Credit Quality (Composition Of Loans Receivable) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 656,874 | $ 610,736 |
Percentage of Total Loans | 100.00% | 100.00% |
Unearned net loan origination fees | $ (108) | $ (155) |
Allowance for loan losses | (5,700) | (5,614) |
Net Loans Receivable | 651,066 | 604,967 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 272,946 | $ 249,454 |
Percentage of Total Loans | 41.55% | 40.84% |
Commercial Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 20,171 | $ 23,220 |
Percentage of Total Loans | 3.07% | 3.80% |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 32,164 | $ 34,182 |
Percentage of Total Loans | 4.90% | 5.60% |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 330,793 | $ 302,908 |
Percentage of Total Loans | 50.36% | 49.60% |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 800 | $ 972 |
Percentage of Total Loans | 0.12% | 0.16% |
Loans Receivable And Credit Q48
Loans Receivable And Credit Quality (Classes Of The Loan Portfolio Summarized By The Aggregate Risk Rating) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 656,874 | $ 610,736 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 650,305 | 603,826 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,027 | 2,653 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,542 | 4,257 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 272,946 | 249,454 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 268,989 | 244,805 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,961 | 1,989 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,996 | 2,660 |
Commercial Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 20,171 | 23,220 |
Commercial Construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 18,795 | 21,844 |
Commercial Construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,376 | 1,376 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 32,164 | 34,182 |
Commercial [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 32,098 | 33,672 |
Commercial [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 66 | 510 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 330,793 | 302,908 |
Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 329,623 | 302,533 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 154 | |
Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,170 | 221 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 800 | 972 |
Consumer [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 800 | $ 972 |
Loans Receivable And Credit Q49
Loans Receivable And Credit Quality (Impaired Loans By Loan Portfolio Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | $ 6,700 | $ 6,700 | |
Impaired loans with related allowance | 1,200 | 1,200 | |
Total Recorded Investment Impaired | 7,908 | 7,908 | $ 8,181 |
Total Unpaid Principal Balance Impaired | 8,249 | 8,249 | 8,534 |
Related Allowance Impaired | 379 | 379 | 397 |
Total Average Recorded Investment Impaired | 8,134 | 8,149 | 10,191 |
Total Interest Income Recognized Impaired | 24 | 104 | 391 |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 3,956 | 3,956 | 4,649 |
Impaired loans with related allowance | 48 | 48 | 555 |
Total Recorded Investment Impaired | 4,004 | 4,004 | 5,204 |
Unpaid Principal Balance, With no related allowance recorded | 4,271 | 4,271 | 4,984 |
Unpaid Principal Balance, With an allowance recorded | 48 | 48 | 555 |
Total Unpaid Principal Balance Impaired | 4,319 | 4,319 | 5,539 |
Related Allowance Impaired | 4 | 4 | 76 |
Average Recorded Investment, With no related allowance recorded | 4,063 | 4,258 | 5,729 |
Average Recorded Investment, With an allowance recorded | 299 | 384 | 575 |
Total Average Recorded Investment Impaired | 4,362 | 4,642 | 6,304 |
Interest Income Recognized, With no related allowance recorded | 33 | 66 | 172 |
Interest Income Recognized, With an allowance recorded | (26) | 108 | |
Total Interest Income Recognized Impaired | 7 | 66 | 280 |
Commercial Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 1,376 | 1,376 | 1,376 |
Total Recorded Investment Impaired | 1,376 | 1,376 | 1,376 |
Unpaid Principal Balance, With no related allowance recorded | 1,376 | 1,376 | 1,376 |
Total Unpaid Principal Balance Impaired | 1,376 | 1,376 | 1,376 |
Average Recorded Investment, With no related allowance recorded | 1,376 | 1,376 | 2,197 |
Total Average Recorded Investment Impaired | 1,376 | 1,376 | 2,197 |
Interest Income Recognized, With no related allowance recorded | 13 | 25 | 78 |
Total Interest Income Recognized Impaired | 13 | 25 | 78 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 4 | ||
Impaired loans with related allowance | 323 | 323 | 326 |
Total Recorded Investment Impaired | 323 | 323 | 330 |
Unpaid Principal Balance, With no related allowance recorded | 4 | ||
Unpaid Principal Balance, With an allowance recorded | 323 | 323 | 326 |
Total Unpaid Principal Balance Impaired | 323 | 323 | 330 |
Related Allowance Impaired | 117 | 117 | 119 |
Average Recorded Investment, With no related allowance recorded | 1 | 48 | |
Average Recorded Investment, With an allowance recorded | 324 | 325 | 229 |
Total Average Recorded Investment Impaired | 324 | 326 | 277 |
Interest Income Recognized, With no related allowance recorded | 1 | ||
Interest Income Recognized, With an allowance recorded | 2 | 5 | 9 |
Total Interest Income Recognized Impaired | 2 | 5 | 10 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 1,359 | 1,359 | 413 |
Impaired loans with related allowance | 846 | 846 | 858 |
Total Recorded Investment Impaired | 2,205 | 2,205 | 1,271 |
Unpaid Principal Balance, With no related allowance recorded | 1,385 | 1,385 | 431 |
Unpaid Principal Balance, With an allowance recorded | 846 | 846 | 858 |
Total Unpaid Principal Balance Impaired | 2,231 | 2,231 | 1,289 |
Related Allowance Impaired | 258 | 258 | 202 |
Average Recorded Investment, With no related allowance recorded | 1,223 | 953 | 488 |
Average Recorded Investment, With an allowance recorded | 849 | 852 | 925 |
Total Average Recorded Investment Impaired | 2,072 | 1,805 | 1,413 |
Interest Income Recognized, With no related allowance recorded | 1 | 5 | 8 |
Interest Income Recognized, With an allowance recorded | 1 | 3 | 15 |
Total Interest Income Recognized Impaired | $ 2 | $ 8 | $ 23 |
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 Q50
Loans Receivable And Credit Quality (Nonaccrual Loans By Classes Of The Loan Portfolio) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 1,835 | $ 1,683 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 599 | 1,251 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 66 | 66 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 1,170 | $ 366 |
Loans Receivable And Credit Q51
Loans Receivable And Credit Quality (Loan Portfolio Summarized By The Past Due Status) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $ 2,078 | $ 2,644 |
60-89 Days Past Due | 143 | 336 |
Greater than 90 Days Past Due | 1,415 | 1,369 |
Total Past Due | 3,636 | 4,349 |
Current | 653,238 | 606,387 |
Total Loan Receivables | 656,874 | 610,736 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 675 | 1,018 |
60-89 Days Past Due | 182 | |
Greater than 90 Days Past Due | 302 | 937 |
Total Past Due | 977 | 2,137 |
Current | 271,969 | 247,317 |
Total Loan Receivables | 272,946 | 249,454 |
Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 1,061 | 1,061 |
Total Past Due | 1,061 | 1,061 |
Current | 19,110 | 22,159 |
Total Loan Receivables | 20,171 | 23,220 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 29 | |
Greater than 90 Days Past Due | 66 | 66 |
Total Past Due | 95 | 66 |
Current | 32,069 | 34,116 |
Total Loan Receivables | 32,164 | 34,182 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 311 | 540 |
60-89 Days Past Due | 143 | 154 |
Greater than 90 Days Past Due | 1,047 | 366 |
Total Past Due | 1,501 | 1,060 |
Current | 329,292 | 301,848 |
Total Loan Receivables | 330,793 | 302,908 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 2 | 25 |
Total Past Due | 2 | 25 |
Current | 798 | 947 |
Total Loan Receivables | $ 800 | $ 972 |
Loans Receivable And Credit Q52
Loans Receivable And Credit Quality (Activity In Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | $ 5,635 | $ 5,374 | $ 5,614 | $ 5,326 |
Charge-offs | (55) | (45) | (56) | (103) |
Recoveries | 1 | |||
Provisions | 120 | 105 | 142 | 210 |
Ending balance | 5,700 | 5,434 | 5,700 | 5,434 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,987 | 1,782 | 1,704 | 1,791 |
Charge-offs | (46) | (46) | (2) | |
Provisions | 64 | (156) | 347 | (163) |
Ending balance | 2,005 | 1,626 | 2,005 | 1,626 |
Commercial Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 325 | 587 | 401 | 495 |
Provisions | 8 | (171) | (68) | (79) |
Ending balance | 333 | 416 | 333 | 416 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 462 | 364 | 407 | 349 |
Charge-offs | (38) | |||
Recoveries | 1 | |||
Provisions | (71) | (3) | (16) | 49 |
Ending balance | 391 | 361 | 391 | 361 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,230 | 2,094 | 1,955 | 2,068 |
Charge-offs | (9) | (45) | (10) | (63) |
Provisions | 196 | (190) | 472 | (146) |
Ending balance | 2,417 | 1,859 | 2,417 | 1,859 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 22 | 20 | 22 | 24 |
Provisions | 10 | (7) | 10 | (11) |
Ending balance | 32 | 13 | 32 | 13 |
Unallocated Financing Receivables [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 609 | 527 | 1,125 | 599 |
Provisions | (87) | 632 | (603) | 560 |
Ending balance | $ 522 | $ 1,159 | $ 522 | $ 1,159 |
Loans Receivable And Credit Q53
Loans Receivable And Credit Quality (Allocation For Loan Losses And The Related Portfolio Disaggregated Based On Impairment Methodology) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | $ 5,700 | $ 5,635 | $ 5,614 | $ 5,434 | $ 5,374 | $ 5,326 |
Total Loan Receivables | 656,874 | 610,736 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 2,005 | 1,987 | 1,704 | 1,626 | 1,782 | 1,791 |
Total Loan Receivables | 272,946 | 249,454 | ||||
Commercial Construction [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 333 | 325 | 401 | 416 | 587 | 495 |
Total Loan Receivables | 20,171 | 23,220 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 391 | 462 | 407 | 361 | 364 | 349 |
Total Loan Receivables | 32,164 | 34,182 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 2,417 | 2,230 | 1,955 | 1,859 | 2,094 | 2,068 |
Total Loan Receivables | 330,793 | 302,908 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 32 | 22 | 22 | 13 | 20 | 24 |
Total Loan Receivables | 800 | 972 | ||||
Unallocated Financing Receivables [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | $ 522 | $ 609 | $ 1,125 | $ 1,159 | $ 527 | $ 599 |
Loans Receivable And Credit Q54
Loans Receivable And Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 4,670 | $ 5,289 |
Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 4,373 | 4,975 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 297 | 314 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 3,118 | 3,715 |
Commercial Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 2,821 | 3,401 |
Commercial Real Estate [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 297 | 314 |
Commercial Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Commercial Construction [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 257 | 264 |
Commercial [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 257 | 264 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,035 | 1,050 |
Residential Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 1,035 | $ 1,050 |
Loans Receivable And Credit Q55
Loans Receivable And Credit Quality (Troubled Debt Restructuring, Newly Restructured Loans) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015loan | Jun. 30, 2014USD ($)loan | Jun. 30, 2015loan | Jun. 30, 2014USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loan | 0 | 1 | 0 | 1 |
Pre-Modification Outstanding Balance | $ 262 | $ 262 | ||
Post-Modification Outstanding Balance | $ 262 | $ 262 | ||
Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | loan | 1 | 1 | ||
Pre-Modification Outstanding Balance | $ 262 | $ 262 | ||
Post-Modification Outstanding Balance | $ 262 | $ 262 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Measurements [Abstract] | ||
Impaired loans aggregate balance | $ 7,908 | $ 8,181 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 6,700 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,200 | |
Related Allowance | $ 379 | $ 397 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 83,727 | $ 77,197 |
U.S Government agency obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 37,677 | 30,076 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 43,337 | 38,624 |
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 | 1,723 | 7,501 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 990 | $ 996 |
(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 | $ 83,727 | $ 77,197 |
(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 | 37,677 | 30,076 |
(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 | 43,337 | 38,624 |
(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 | 1,723 | 7,501 |
(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 | $ 990 | $ 996 |
(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 (Fair58
Fair Value Measurements (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
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 | [1] | $ 839 | $ 863 |
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 | [1] | 1,201 | 1,106 |
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 | [1] | 839 | 863 |
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 | [1] | $ 1,201 | 1,106 |
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 | [2] | 479 | |
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 | [2] | $ 479 | |
[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 ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 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 | $ 839 | $ 863 | |
Valuation Techniques | [1],[2] | Appraisal of collateral | |
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 range | [3] | (25.00%) | (25.00%) |
Liquidation expenses range | [4] | (8.50%) | 8.50% |
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 range | [3] | 0.00% | 0.00% |
Liquidation expenses range | [4] | 0.00% | 0.00% |
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 range | [3] | (24.20%) | (17.60%) |
Liquidation expenses range | [4] | (7.60%) | (8.20%) |
Impaired Loan [Member] | Income Approach Valuation Technique [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | $ 479 | ||
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 | $ 1,201 | $ 1,106 | |
Valuation Techniques | [5],[6] | Listings, Letters of Intent & Third Party Evaluations | |
Liquidation expenses range | [4] | (5.00%) | (5.00%) |
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 range | [4] | (5.00%) | (5.00%) |
[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 is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | ||
[3] | 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. | ||
[4] | 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. | ||
[5] | Fair value is determined by listings, letters of intent or third-party evaluations. | ||
[6] | Fair value is determined using the debt service of the borrower. |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 83,727 | $ 77,197 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 15,456 | 16,390 |
Interest bearing time deposits | 250 | 250 |
Securities available for sale | 83,727 | 77,197 |
Loans receivable, net of allowance | 651,066 | 604,697 |
Restricted investment in bank stock | 2,512 | 784 |
Accrued interest receivable | 1,638 | 1,599 |
Deposits | 619,092 | 611,668 |
Securities sold under agreements to repurchase and federal funds purchased | 33,795 | 30,304 |
Short-term borrowings | 44,440 | 9,000 |
Long-term borrowings | 6,355 | 1,900 |
Accrued interest payable | 337 | 349 |
Total Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 15,456 | 16,390 |
Interest bearing time deposits | 250 | 251 |
Securities available for sale | 83,727 | 77,197 |
Loans receivable, net of allowance | 654,786 | 611,256 |
Restricted investment in bank stock | 2,512 | 784 |
Accrued interest receivable | 1,638 | 1,599 |
Deposits | 619,719 | 611,975 |
Securities sold under agreements to repurchase and federal funds purchased | 33,792 | 30,302 |
Short-term borrowings | 44,442 | 9,000 |
Long-term borrowings | 6,248 | 1,877 |
Accrued interest payable | 337 | 349 |
(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 | $ 15,456 | $ 16,390 |
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 | $ 250 | $ 251 |
Securities available for sale | 83,727 | 77,197 |
Restricted investment in bank stock | 2,512 | 784 |
Accrued interest receivable | 1,638 | 1,599 |
Deposits | 619,719 | 611,975 |
Securities sold under agreements to repurchase and federal funds purchased | 33,792 | 30,302 |
Short-term borrowings | 44,442 | 9,000 |
Accrued interest payable | $ 337 | $ 349 |
(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 | $ 654,786 | $ 611,256 |
Long-term borrowings | $ 6,248 | $ 1,877 |
Offsetting Assets And Liabili61
Offsetting Assets And Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Offsetting Liabilities [Line Items] | ||
Fair value of securities pledged | $ 35,400 | $ 34,500 |
Securities Sold Under Agreements To Repurchase [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | $ 33,795 | $ 30,304 |
Gross Amounts Offset in the Consolidated Balance Sheet | ||
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | $ 33,795 | $ 30,304 |
Financial Instruments | $ (33,795) | $ (30,304) |
Cash Pledged | ||
Net Amount |
New Accounting Standards (Narra
New Accounting Standards (Narrative) (Details) - Residential Real Estate Property [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Foreclosed residential real estate held | $ 0 | $ 0 |
Consumer mortgage loans in process of foreclosure | $ 154 | $ 375 |
Uncategorized Items - emyb-2015
Label | Element | Value |
Bank Owned Life Insurance Income | us-gaap_BankOwnedLifeInsuranceIncome | $ 54 |
Bank Owned Life Insurance Income | us-gaap_BankOwnedLifeInsuranceIncome | 91 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 7,908 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 8,181 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 5,217 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 5,321 |
Net Income (Loss) Attributable to Parent | us-gaap_NetIncomeLoss | 1,548 |
Net Income (Loss) Attributable to Parent | us-gaap_NetIncomeLoss | 1,678 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 379 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 397 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 602,555 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 648,966 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 323 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 330 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 274 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 288 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 117 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 119 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 31,841 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 33,852 |
Commercial Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 1,376 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 1,376 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 333 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 401 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 18,795 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 21,844 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 4,004 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 5,204 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 1,628 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 2,001 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 4 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 76 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 244,250 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 268,942 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 22 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 32 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 800 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 972 |
Residential Portfolio Segment [Member] | ||
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 1,271 |
Financing Receivable, Individually Evaluated for Impairment | us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment | 2,205 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 1,753 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 2,159 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 202 |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1 | 258 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 301,637 |
Financing Receivable, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment | 328,588 |
Unallocated Financing Receivables [Member] | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | 1,125 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment | $ 522 |