Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 05, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
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 | 7,413,481 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 14,318 | $ 12,459 |
Interest bearing demand deposits with banks | 8,807 | 6,067 |
Federal funds sold | 1,000 | 1,000 |
Cash and Cash Equivalents | 24,125 | 19,526 |
Securities available for sale | 89,879 | 77,253 |
Restricted investment in bank stock | 624 | 2,178 |
Loans receivable, net of allowance for loan losses of $6,279 in 2016; $6,068 in 2015 | 725,299 | 684,047 |
Premises and equipment, net of accumulated depreciation | 2,192 | 2,258 |
Bank owned life insurance | 12,472 | 12,343 |
Accrued interest receivable | 1,692 | 1,637 |
Other real estate owned | 621 | 1,224 |
Other assets | 3,870 | 3,572 |
Total Assets | 860,774 | 804,038 |
Liabilities: | ||
Deposits: Non-interest bearing | 97,298 | 89,959 |
Deposits: Interest bearing | 677,196 | 570,307 |
Total deposits | 774,494 | 660,266 |
Securities sold under agreements to repurchase | 8,603 | 27,535 |
Short-term borrowings | 39,306 | |
Long-term borrowings | 3,820 | |
Accrued interest payable | 671 | 462 |
Other liabilities | 5,800 | 4,548 |
Total Liabilities | 789,568 | 735,937 |
Stockholders' Equity: | ||
Common stock, $1 par value; authorized 20,000,000 shares; 2016 issued and outstanding 7,413,481 shares; 2015 issued and outstanding 7,407,547 shares | 7,413 | 7,408 |
Surplus | 24,393 | 24,299 |
Retained earnings | 37,466 | 35,158 |
Accumulated other comprehensive income | 1,934 | 1,236 |
Total Stockholders' Equity | 71,206 | 68,101 |
Total Liabilities and Stockholders' Equity | $ 860,774 | $ 804,038 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Consolidated Balance Sheets [Abstract] | ||
Loans and Leases Receivable, Allowance | $ 6,279 | $ 6,068 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,413,481 | 7,407,547 |
Common Stock, Shares, Outstanding | 7,413,481 | 7,407,547 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
INTEREST INCOME | ||||
Loans receivable, including fees | $ 6,891 | $ 6,332 | $ 13,700 | $ 12,627 |
Securities, taxable | 221 | 207 | 400 | 414 |
Securities, non-taxable | 284 | 304 | 569 | 607 |
Federal funds sold, and other | 41 | 15 | 82 | 64 |
Interest on time deposits | 1 | 1 | ||
Total Interest Income | 7,437 | 6,859 | 14,751 | 13,713 |
INTEREST EXPENSE | ||||
Deposits | 962 | 694 | 1,819 | 1,367 |
Securities sold under agreements to repurchase | 3 | 5 | 7 | 9 |
Short-term borrowings | 1 | 28 | 31 | 43 |
Long-term borrowings | 33 | 5 | 68 | |
Total Interest Expense | 966 | 760 | 1,862 | 1,487 |
Net Interest Income | 6,471 | 6,099 | 12,889 | 12,226 |
Provision for Loan Losses | 70 | 120 | 255 | 142 |
Net Interest Income after Provision for Loan Losses | 6,401 | 5,979 | 12,634 | 12,084 |
OTHER INCOME | ||||
Credit card processing fees | 429 | 412 | 843 | 775 |
Other service fees | 174 | 173 | 335 | 332 |
Bank owned life insurance | 81 | 91 | 129 | 189 |
Gain on sale of securities, net | 139 | |||
Gain on sale of other real estate owned | 5 | 1 | 15 | 7 |
Impairment on other real estate owned | (80) | (80) | (42) | |
Total Other Income | 609 | 677 | 1,242 | 1,400 |
OTHER EXPENSES | ||||
Salaries and employee benefits | 1,951 | 1,717 | 3,921 | 3,459 |
Occupancy and equipment | 681 | 594 | 1,356 | 1,223 |
Data processing | 391 | 444 | 780 | 803 |
Credit card processing | 396 | 393 | 798 | 747 |
Advertising and promotion | 371 | 381 | 695 | 673 |
Professional fees | 150 | 133 | 277 | 255 |
FDIC insurance | 106 | 78 | 208 | 165 |
Insurance | 15 | 13 | 28 | 27 |
Loan & real estate | 46 | 82 | 110 | 126 |
Charitable contributions | 149 | 142 | 386 | 351 |
Other real estate owned expenses | 20 | 4 | 57 | 40 |
Other | 400 | 341 | 673 | 559 |
Total Other Expenses | 4,676 | 4,322 | 9,289 | 8,428 |
Income before Income Taxes | 2,334 | 2,334 | 4,587 | 5,056 |
INCOME TAX EXPENSE | 670 | 656 | 1,315 | 1,437 |
Net Income | $ 1,664 | $ 1,678 | $ 3,272 | $ 3,619 |
BASIC EARNINGS PER SHARE | $ 0.22 | $ 0.23 | $ 0.44 | $ 0.49 |
DILUTED EARNINGS PER SHARE | 0.22 | 0.23 | 0.44 | 0.49 |
DIVIDENDS PER SHARE | $ 0.13 | $ 0.10 | $ 0.13 | $ 0.10 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||||
Net Income | $ 1,664 | $ 1,678 | $ 3,272 | $ 3,619 | |
Change in Accumulated Other Comprehensive Income: | |||||
Unrealized holding gain (loss) on securities available for sale | 626 | (865) | 1,057 | (527) | |
Less: reclassification adjustment for realized gains | [1],[2] | (139) | |||
Total other comprehensive income (loss), before tax | 626 | (865) | 1,057 | (666) | |
Income tax effect | (212) | 294 | (359) | 226 | |
Net unrealized gain (loss) | 414 | (571) | 698 | (440) | |
Other comprehensive gain (loss), net of tax | 414 | (571) | 698 | (440) | |
Comprehensive Income | $ 2,078 | $ 1,107 | $ 3,970 | $ 3,179 | |
[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, 2014 | $ 7,358 | $ 24,024 | $ 28,485 | $ 1,465 | $ 61,332 |
Net income | 3,619 | 3,619 | |||
Other comprehensive income, 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 |
BALANCE-Beginning at Dec. 31, 2015 | 7,408 | 24,299 | 35,158 | 1,236 | 68,101 |
Net income | 3,272 | 3,272 | |||
Other comprehensive income, net of tax | 698 | 698 | |||
Dividend declared | (964) | (964) | |||
Compensation expense recognized on stock options | 15 | 15 | |||
Common stock grants to directors | 5 | 57 | 62 | ||
Compensation expense recognized on stock grants, net of unearned compensation expense | 22 | 22 | |||
BALANCE-Ending at Jun. 30, 2016 | $ 7,413 | $ 24,393 | $ 37,466 | $ 1,934 | $ 71,206 |
Consolidated Statements of Sto7
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Consolidated Statements Of Stockholders' Equity [Abstract] | ||
Dividends declared per share | $ 0.13 | $ 0.10 |
Common stock grants to directors, shares | 5,934 | 9,122 |
Unearned compensation expense | $ 234 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 3,272 | $ 3,619 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for Loan Losses | 255 | 142 |
Amortization of deferred loan costs | 57 | 12 |
Depreciation and amortization | 374 | 306 |
Net amortization of investment security premiums and discounts | 130 | 105 |
Stock compensation expense | 37 | 25 |
Net realized gain on sale of other real estate owned | (15) | (7) |
Impairment on other real estate owned | 80 | 42 |
Income on bank owned life insurance | (129) | (189) |
Net realized gain on sale of securities available for sale | (139) | |
Increase in accrued interest receivable | (55) | (39) |
Increase in other assets | (657) | (22) |
Increase (decrease) in accrued interest payable | 209 | (12) |
Increase (decrease) in other liabilities | 365 | (20) |
Net Cash Provided by Operating Activities | 3,923 | 3,823 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available for sale | (15,416) | (13,869) |
Maturities, calls and principal repayments of securities available for sale | 3,717 | 981 |
Proceeds from sales of securities available for sale | 5,726 | |
Net increase in loans | (41,041) | (46,448) |
Net redemption (purchases) of restricted investment in bank stock | 1,554 | (1,728) |
Proceeds from sale of other real estate owned | 53 | |
Purchases of premises and equipment | (308) | (282) |
Net Cash Used in Investing Activities | (51,494) | (55,567) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 114,228 | 7,424 |
Net (decrease) increase in securities sold under agreements to repurchase | (18,932) | 3,491 |
(Decrease) increase in short-term borrowed funds | (39,306) | 35,440 |
Proceeds from long-term borrowed funds | 5,455 | |
Payments of long-term borrowed funds | (3,820) | (1,000) |
Net Cash Provided by Financing Activities | 52,170 | 50,810 |
Net Increase (Decrease) in Cash and Cash Equivalents | 4,599 | (934) |
CASH AND CASH EQUIVALENTS - BEGINNING | 19,526 | 16,390 |
CASH AND CASH EQUIVALENTS - ENDING | 24,125 | 15,456 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ||
Interest paid | 1,641 | 1,500 |
Income taxes paid | 1,482 | 1,560 |
Other real estate sold through bank financing | 523 | |
Deferral of gain from sale of other real estate sold through bank financing | $ 15 | $ 195 |
Basis Of Presentation
Basis Of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31 , 201 6 . 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, 2015 , included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 30, 2016 . In preparing these consolidated financial statements, the Company evaluated the events and transactions that occurred after June 30, 2016 through the date these consolidated financial statements were issued. On July 15 , 2016, the Board of Directors of the Compan y ratified the execution of the Embassy Bancorp, Inc. Employee Stock Purchase Plan. This plan had previously been approved by the Company’s shareholders at the annual shareholders meeting held on June 16, 2016. Under the plan, each employee of the Company and its subsidiaries who is employed on an offering date when options are granted, scheduled to work at least twenty (20) hours per week and for more than five (5) months is eligible to participate once th e y have completed the appropriate documentation. Embassy Bancorp, Inc. has authorized 350,000 of its common stock for the plan. Certain amounts in the 201 5 financial statements may have been reclassified to conform to 201 6 presentation. These reclassifications had no effect on 201 5 net income. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
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, 2015 . |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2016 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 3 – Stockholders’ Equity On November 11, 2008, the Company consummated its acquisition of Embassy Bank For The Lehigh Valley pursuant to a Plan of Merger and Reorganization dated April 18, 2008, pursuant to which the Bank was reorganized into a bank holding company structure. At the effective time of the reorganization, each share of common stock of Embassy Bank For The Lehigh Valley issued and outstanding was automatically converted into one share of Company common stock. The issuance of Company common stock in connection with the reorganization was exempt from registration pursuant to Section 3(a)(12) of the Securities Act of 1933, as amended. |
Stock Incentive Plan
Stock Incentive Plan | 6 Months Ended |
Jun. 30, 2016 | |
Stock Incentive Plan [Abstract] | |
Stock Incentive Plan | Note 4 – Stock Incentive Plan At the Company’s annual meeting on June 16, 2010, the shareholders approved the Embassy Bancorp, Inc. 2010 Stock Incentive Plan (the “SIP”). The SIP authorizes the Board of Directors, or a committee authorized by the Board of Directors, to award a stock based incentive to (i) designated officers (including officers who are directors) and other designated employees at the Company and its subsidiaries, and (ii) non-employee members of the Board of Directors and advisors and consultants to the Company and its subsidiaries. The 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. At June 30, 2016 there were 322,210 shares available for issuance under the SIP. The Company grants shares of restricted stock, under the SIP, to certain members of its Board of Directors as compensation for their services, in accordance with the Company’s Non-employee Directors Compensation program adopted in October 2010. The Company also grants restricted stock to certain officers under individual agreements with these officers. Some of these restricted stock awards vest immediately, while the remainder vest over three to nine service years. Management recognizes compensation expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the plan and through the period ended June 30, 2016 , there have been 65,774 awards granted. No awards were granted during the three months ended June 30, 2016 and 2015. During the six months ended June 30, 2016 and 2015 there were 5,934 and 9,122 awards granted, respectively. During the three and six month months ended June 30, 2016 the Company recognized $10 thousand and $22 thousand , respectively, in compensation expense for the restricted stock awards. There was no compensation expense recognized for the restricted stock awards during the three and six months ended June 30, 2015. In January 2014, February 2013 and February 2012, the Company 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 quarter and year to date periods ended June 30, 2016 and 2015 . Stock compensation expense related to these options was $6 thousand and $10 thousand for the three months ended June 30, 2016 and 2015 , respectively. Stock compensation expense related to these options was $15 thousand and $25 thousand for the six months ended June 30, 2016 and 2015 , respectively. At June 30, 2016 , approximately $13 thousand unrecognized cost related to stock options granted in 2014 will be recognized over the next 0.55 years. The fair value of the options granted in 2014, 2013 and 2012 was determined with the following weighted average assumptions: dividend yield of 0% , risk free interest rate of 2.30% , 1.34% and 1.43% , respectively, expected life of 6.0 years, 6.0 years and 7.5 years, respectively, and expected volatility of 28.93% , 28.79% and 31.10% , respectively. The weighted average fair value of options granted in 2014, 2013 and 2012 was $2.46 , $2.14 and $2.56 per share, respectively. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 2015 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 626 $ (212) $ 414 $ (865) $ 294 $ (571) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive income (loss) $ 626 $ (212) $ 414 $ (865) $ 294 $ (571) Six Months Ended June 30, 2016 2015 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 1,057 $ (359) $ 698 $ (527) $ 179 $ (348) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - (139) 47 (92) Total other comprehensive income (loss) $ 1,057 $ (359) $ 698 $ (666) $ 226 $ (440) 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 for the three months ended June 30, 2016 and 2015 . A summary of the realized gains on securities available for sale, net of tax, for the six months ended June 30, 2016 and 2015 are as follows: Six Months Ended June 30, 2016 2015 (In Thousands) Securities available for sale: Realized gains on securities transactions $ - $ (139) Income taxes - 47 Net of tax $ - $ (92) A summary of the accumulated other comprehensive income, net of tax, is as follows: Securities Available for Sale Three Months Ended June 30, 2016 and 2015 (In Thousands) Balance March 31, 2016 $ 1,520 Other comprehensive income before reclassifications 414 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 414 Balance June 30, 2016 $ 1,934 Balance March 31, 2015 $ 1,596 Other comprehensive loss before reclassifications (571) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period (571) Balance June 30, 2015 $ 1,025 Six Months Ended June 30, 2016 and 2015 Balance January 1, 2016 $ 1,236 Other comprehensive income before reclassifications 698 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 698 Balance June 30, 2016 $ 1,934 Balance January 1, 2015 $ 1,465 Other comprehensive loss before reclassifications (348) Amounts reclassified from accumulated other comprehensive income (92) Net other comprehensive loss during the period (440) Balance June 30, 2015 $ 1,025 |
Basic And Diluted Earnings Per
Basic And Diluted Earnings Per Share | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 2015 2016 2015 (Dollars In Thousands, Except Per Share Data) Net income $ 1,664 $ 1,678 $ 3,272 $ 3,619 Weighted average shares outstanding 7,413,482 7,366,873 7,412,438 7,365,865 Dilutive effect of potential common shares, stock options 33,744 32,922 33,325 32,163 Diluted weighted average common shares outstanding 7,447,226 7,399,795 7,445,763 7,398,028 Basic earnings per share $ 0.22 $ 0.23 $ 0.44 $ 0.49 Diluted earnings per share $ 0.22 $ 0.23 $ 0.44 $ 0.49 There were no stock options not considered in computing diluted earnings per common share for the three and six months ended June 30, 2016, as compared to stock options of 9,122 not considered in computing diluted earnings per common share for the three and six months ended June 30, 2015 because they were not dilutive to earnings . |
Guarantees
Guarantees | 6 Months Ended |
Jun. 30, 2016 | |
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 and FHLBank of Pittsburgh (“FHLB”) deposit 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 $3.7 million of standby letters of credit outstanding as of June 30, 2016 . The approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was $ 3.6 million. Management does not consider the current amount of the liability as of June 30, 2016 for guarantees under standby letters of credit issued to be material . FHLB deposit letters of credit are standby letters of credit commitments issued by the Bank for the benefit of a third party (the “Beneficiary”), which secure public deposits in the Bank. FHLB deposit letters of credit are secured by qualifying assets of the Bank. The Company, through the Bank, had $7.9 million of FHLB deposit letters of credit outstanding as of June 30, 2016 . |
Short-Term And Long-Term Borrow
Short-Term And Long-Term Borrowings | 6 Months Ended |
Jun. 30, 2016 | |
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 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, 2016 , the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $ 426.5 million. This borrowing capacity with the FHLB includes a line of credit of $ 150.0 million. There were no short-term FHLB advances outstanding as of June 30, 2016 and $39.3 million were outstanding as of December 31, 2015 . No l ong-term advances were outstanding with FHLB as of June 30, 2016 and $3.8 million were outstanding as of December 31, 2015 . 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 $ 10.0 million , of which none was outstanding at June 30, 2016 and December 31, 2015 . Advances from this line are unsecured. The Company has one line of credit with Univest Bank and Trust Co. (“Univest”) totaling $4.0 million, of which none was outstanding at June 30, 2016 and December 31, 2015 . This line of credit is secured by 333,333 shares of Bank common stock. |
Securities Available For Sale
Securities Available For Sale | 6 Months Ended |
Jun. 30, 2016 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Note 9 – Securities Available For Sale At June 30, 2016 and December 31, 2015 , 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, 2016 : U.S. Government agency obligations $ 31,596 $ 267 $ - $ 31,863 Municipal bonds 39,045 2,508 - 41,553 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 16,309 154 - 16,463 Total $ 86,950 $ 2,929 $ - $ 89,879 December 31, 2015 : U.S. Government agency obligations $ 34,676 $ 15 $ (121) $ 34,570 Municipal bonds 39,378 1,970 (144) 41,204 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 1,327 152 - 1,479 Total $ 75,381 $ 2,137 $ (265) $ 77,253 The amortized cost and fair value of securities as of June 30, 2016 , 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 $ 7,070 $ 7,077 Due after one year through five years 29,865 30,283 Due after five years through ten years 18,964 20,094 Due after ten years 14,742 15,962 70,641 73,416 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 16,309 16,463 $ 86,950 $ 89,879 There were no sales of securities during the three and six months ended June 30, 2016. There were no sales of securities during the three months ended June 30, 2015. Gross gains of $139 thousand were realized on sales of securities for the six months ended June 30, 2015. Th ere were no gross losses on the sales of securities during the six months ended June 30, 2015. Securities with a carrying value of $57.4 million and $ 64.9 million at June 30, 2016 and December 31, 2015 , respectively, were subject to agreements to repurchase, pledged to secure public deposits, or pledged for other purpose s required or permitted by law. The Company had no securities in an unrealized loss position at June 30, 2016 . 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 December 31, 2015 : Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2015 : (In Thousands) U.S. Government agency obligations $ 25,525 $ (121) $ - $ - $ 25,525 $ (121) Municipal bonds 6,180 (144) - - 6,180 (144) Total Temporarily Impaired Securities $ 31,705 $ (265) $ - $ - $ 31,705 $ (265) |
Restricted Investment In Bank S
Restricted Investment In Bank Stock | 6 Months Ended |
Jun. 30, 2016 | |
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 FHL 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 $ 262 thousand and $2.1 million repurchased during the three and six months ended June 30, 2016 and $114 thousand was repurchased during the three and six months ended June 30, 2015 , respectively. S tock purchases of $352 thousand and $537 thousand were made during the three and six months ended June 30, 2016 and $983 thousand and $1.8 million during the three and six months ended June 30, 2015 , respectively. Dividend payments of $17 thousand and $42 thousand were received during the three and six months ended June 30, 2016 and $13 thousand and $58 thousand were received during the three and six months ended June 30, 2015 , 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, 2016 . |
Loans Receivable And Credit Qua
Loans Receivable And Credit Quality | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and December 31, 2015 , respectively: June 30, 2016 December 31, 2015 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 295,746 40.43% $ 289,304 41.92% Commercial construction 23,600 3.23% 17,786 2.58% Commercial 40,043 5.47% 34,955 5.06% Residential real estate 371,413 50.78% 347,316 50.33% Consumer 679 0.09% 745 0.11% Total loans 731,481 100.00% 690,106 100.00% Unearned origination fees 97 9 Allowance for loan losses (6,279) (6,068) $ 725,299 $ 684,047 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, 2016 and December 31, 2015 , respectively: Pass Special Mention Substandard Doubtful Total June 30, 2016 (In Thousands) Commercial real estate $ 294,131 $ 21 $ 1,594 $ - $ 295,746 Commercial construction 22,785 - 815 - 23,600 Commercial 40,028 15 - - 40,043 Residential real estate 370,493 345 575 - 371,413 Consumer 679 - - - 679 Total $ 728,116 $ 381 $ 2,984 $ - $ 731,481 December 31, 2015 Commercial real estate $ 287,755 $ - $ 1,549 $ - $ 289,304 Commercial construction 16,971 - 815 - 17,786 Commercial 34,889 66 - - 34,955 Residential real estate 346,787 - 529 - 347,316 Consumer 745 - - - 745 Total $ 687,147 $ 66 $ 2,893 $ - $ 690,106 The following table summarizes information in regards to impaired loans by loan portfolio class as of June 30, 2016 and December 31, 2015 , 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, 2016 (In Thousands) With no related allowance recorded: Commercial real estate $ 3,655 $ 3,974 $ 3,667 $ 19 $ 3,659 $ 37 Commercial construction 815 815 815 7 815 14 Commercial - - - - - - Residential real estate 800 808 811 2 793 3 Consumer - - - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - $ - Commercial construction - - - - - - - Commercial 268 268 61 261 3 281 6 Residential real estate 1,113 1,113 349 970 3 925 4 Consumer - - - - - - - Total: Commercial real estate $ 3,655 $ 3,974 $ - $ 3,667 $ 19 $ 3,659 $ 37 Commercial construction 815 815 - 815 7 815 14 Commercial 268 268 61 261 3 281 6 Residential real estate 1,913 1,921 349 1,781 5 1,718 7 Consumer - - - - - - - $ 6,651 $ 6,978 $ 410 $ 6,524 $ 34 $ 6,473 $ 64 December 31, 2015 With no related allowance recorded: Commercial real estate $ 3,644 $ 3,928 $ 3,672 $ 139 Commercial construction 815 815 1,096 38 Commercial - - - - Residential real estate 758 758 1,029 10 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ 336 $ - Commercial construction - - - - - Commercial 321 321 115 323 10 Residential real estate 834 834 255 878 5 Consumer - - - - - Total: Commercial real estate $ 3,644 $ 3,928 $ - $ 4,008 $ 139 Commercial construction 815 815 - 1,096 38 Commercial 321 321 115 323 10 Residential real estate 1,592 1,592 255 1,907 15 Consumer - - - - - $ 6,372 $ 6,656 $ 370 $ 7,334 $ 202 The following table presents non-accrual loans by classes of the loan portfolio: June 30, 2016 December 31, 2015 (In Thousands) Commercial real estate $ 221 $ 164 Commercial construction - - Commercial 15 66 Residential real estate 865 529 Consumer - - Total $ 1,101 $ 759 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, 2016 and December 31, 2015 , respectively: Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing June 30, 2016 (In Thousands) Commercial real estate $ 46 $ - $ 221 $ 267 $ 295,479 $ 295,746 $ - Commercial construction - - - - 23,600 23,600 - Commercial 188 - 15 203 39,840 40,043 - Residential real estate 856 - 865 1,721 369,692 371,413 - Consumer - - - - 679 679 - Total $ 1,090 $ - $ 1,101 $ 2,191 $ 729,290 $ 731,481 $ - December 31, 2015 Commercial real estate $ 219 $ - $ 164 $ 383 $ 288,921 $ 289,304 $ - Commercial construction 500 - - 500 17,286 17,786 - Commercial - - 66 66 34,889 34,955 - Residential real estate 159 76 529 764 346,552 347,316 - Consumer - - - - 745 745 - Total $ 878 $ 76 $ 759 $ 1,713 $ 688,393 $ 690,106 $ - The following tables detail the activity in the allowance for loan losses for the three and six months ended June 30, 2016 and 2015 : Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending June 30, 2016 Beginning Balance - March 31, 2016 $ 2,157 $ 371 $ 396 $ 2,581 $ 30 $ 674 $ 6,209 Charge-offs - - - - - - - Recoveries - - - - - - - Provisions 21 56 22 206 - (235) 70 Ending Balance - June 30, 2016 $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Six Months Ending June 30, 2016 Beginning Balance - December 31, 2015 $ 2,132 $ 294 $ 402 $ 2,529 $ 29 $ 682 $ 6,068 Charge-offs (35) - - (9) - - (44) Recoveries - - - - - - - Provisions 81 133 16 267 1 (243) 255 Ending Balance - June 30, 2016 $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Three Months Ending June 30, 2015 Beginning Balance - March 31, 2015 $ 1,987 $ 325 $ 462 $ 2,230 $ 22 $ 609 $ 5,635 Charge-offs (46) - - (9) - - (55) Recoveries - - - - - - - Provisions 64 8 (71) 196 10 (87) 120 Ending Balance - June 30, 2015 $ 2,005 $ 333 $ 391 $ 2,417 $ 32 $ 522 $ 5,700 Six Months Ending June 30, 2015 Beginning Balance - December 31, 2014 $ 1,704 $ 401 $ 407 $ 1,955 $ 22 $ 1,125 $ 5,614 Charge-offs (46) - - (10) - - (56) Recoveries - - - - - - - Provisions 347 (68) (16) 472 10 (603) 142 Ending Balance - June 30, 2015 $ 2,005 $ 333 $ 391 $ 2,417 $ 32 $ 522 $ 5,700 The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at June 30, 2016 and December 31, 2015 . Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) June 30, 2016 Allowance for Loan Losses Ending Balance $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Ending balance: individually evaluated for impairment $ - $ - $ 61 $ 349 $ - $ - $ 410 Ending balance: collectively evaluated for impairment $ 2,178 $ 427 $ 357 $ 2,438 $ 30 $ 439 $ 5,869 Loans receivables: Ending balance $ 295,746 $ 23,600 $ 40,043 $ 371,413 $ 679 $ 731,481 Ending balance: individually evaluated for impairment $ 3,655 $ 815 $ 268 $ 1,913 $ - $ 6,651 Ending balance: collectively evaluated for impairment $ 292,091 $ 22,785 $ 39,775 $ 369,500 $ 679 $ 724,830 December 31, 2015 Allowance for Loan Losses Ending Balance $ 2,132 $ 294 $ 402 $ 2,529 $ 29 $ 682 $ 6,068 Ending balance: individually evaluated for impairment $ - $ - $ 115 $ 255 $ - $ - $ 370 Ending balance: collectively evaluated for impairment $ 2,132 $ 294 $ 287 $ 2,274 $ 29 $ 682 $ 5,698 Loans receivables: Ending balance $ 289,304 $ 17,786 $ 34,955 $ 347,316 $ 745 $ 690,106 Ending balance: individually evaluated for impairment $ 3,644 $ 815 $ 321 $ 1,592 $ - $ 6,372 Ending balance: collectively evaluated for impairment $ 285,660 $ 16,971 $ 34,634 $ 345,724 $ 745 $ 683,734 Troubled Debt Restructurings The Company may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition tha t 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, 2016 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ 3,111 $ - $ 3,111 Commercial construction 260 - 260 Commercial 253 - 253 Residential real estate 1,048 - 1,048 Consumer - - - $ 4,672 $ - $ 4,672 December 31, 2015 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ 3,145 $ - $ 3,145 Commercial construction 260 - 260 Commercial 255 - 255 Residential real estate 1,063 - 1,063 Consumer - - - $ 4,723 $ - $ 4,723 As of June 30, 2016 , no available commitments were outstanding on TDRs. There were no newly restructured loans that occurred during the three and six months ended June 30, 2016 and 2015. 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, 2016 and 2015. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 and December 31, 2015 , respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) U.S. Government agency obligations $ - $ 31,863 $ - $ 31,863 Municipal bonds - 41,553 - 41,553 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 16,463 - 16,463 June 30, 2016 Securities available for sale $ - $ 89,879 $ - $ 89,879 U.S. Government agency obligations $ - $ 34,570 $ - $ 34,570 Municipal bonds - 41,204 - 41,204 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 1,479 - 1,479 December 31, 2015 Securities available for sale $ - $ 77,253 $ - $ 77,253 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, 2016 and December 31, 2015 , respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) June 30, 2016 Impaired loans (1) $ - $ - $ 971 $ 971 June 30, 2016 Impaired loans (2) $ - $ - $ - $ - June 30, 2016 Other real estate owned (1) $ - $ - $ 621 $ 621 December 31, 2015 Impaired loans (1) $ - $ - $ 785 $ 785 December 31, 2015 Impaired loans (2) $ - $ - $ - $ - December 31, 2015 Other real estate owned (1) $ - $ - $ 1,224 $ 1,224 (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, 2016 , of the impaired loans having an aggregate balance of $6.7 million, $5.3 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 $ 1.4 million in impaired loans, an aggregate valuation allowance of $ 410 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, 2016: Impaired loans $ 971 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% ( -17.4% ) Liquidation expenses (3) 0% to -10.0% ( -8.3% ) Other real estate owned $ 621 Listings, Letters of Intent Liquidation expenses (3) -5% ( -5% ) & Third Party Evaluations (4) December 31, 2015: Impaired loans $ 785 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% ( -25.0% ) Liquidation expenses (3) 0% to - 7.5% ( -7.5% ) Other real estate owned $ 1,224 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 appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 3. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. 4. Fair value is determined by listings, letters of intent or third-party evaluations. 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, 2016 and December 31, 2015 : 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, 2016 and December 31, 2015 : (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, 2016: Financial assets: Cash and cash equivalents $ 24,125 $ 24,125 $ 24,125 $ - $ - Interest bearing time deposits - - - - - Securities available-for-sale 89,879 89,879 - 89,879 - Loans receivable, net of allowance 725,299 737,385 - - 737,385 Restricted investments in bank stock 624 624 - 624 - Accrued interest receivable 1,692 1,692 - 1,692 - Financial liabilities: Deposits 774,494 775,560 - 775,560 - Securities sold under agreements to repurchase and federal funds purchased 8,603 8,602 - 8,602 - Short-term borrowings - - - - - Long-term borrowings - - - - - Accrued interest payable 671 671 - 671 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2015: Financial assets: Cash and cash equivalents $ 19,526 $ 19,527 $ 19,527 $ - $ - Interest bearing time deposits - - - - - Securities available-for-sale 77,253 77,253 - 77,253 - Loans receivable, net of allowance 684,047 688,645 - - 688,645 Restricted investments in bank stock 2,178 2,178 - 2,178 - Accrued interest receivable 1,637 1,637 - 1,637 - Financial liabilities: Deposits 660,266 660,503 - 660,503 - Securities sold under agreements to repurchase and federal funds purchased 27,535 27,529 - 27,529 - Short-term borrowings 39,306 39,273 - 39,273 - Long-term borrowings 3,820 3,740 - - 3,740 Accrued interest payable 462 462 - 462 - 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, 2016 | |
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 ownership 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, 2016 and December 31, 2015 : 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, 2016 Repurchase Agreements: Corporate Institutions $ 8,603 $ - $ 8,603 $ (8,603) $ - $ - December 31, 2015 Repurchase Agreements: Corporate Institutions $ 27,535 $ - $ 27,535 $ (27,535) $ - $ - As of June 30, 2016 and December 31, 2015 , the fair value of securities pledged was $ 11.9 million and $ 35.0 million, respectively. |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2016 | |
New Accounting Standards [Abstract] | |
New Accounting Standards | Note 14 – New Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition. The ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 by one year. The new guidance will be effective for public companies for periods beginning after December 15, 2017 with private companies provided a one-year deferral until periods beginning after December 15, 2018. The ASU permits application of the new revenue recognition guidance to be applied using one of two retrospective application methods. The Company has not yet determined which application method it will use or the potential effects of the new standard on the financial statements, if any. The Company is currently assessing the impact this new standard will have on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which will supersede the current lease requirements in Topic 840. The ASU requires lessees to recognize a right of use asset and related lease liability for all leases, with a limited exception for short-term leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the statement of income. Currently, leases are classified as either capital or operating, with only capital leases recognized on the balance sheet. The reporting of lease related expenses in the statements of operations and cash flows will be generally consistent with the current guidance. The new guidance will be effective for years beginning after December 15, 2018 for public companies and for years beginning after December 15, 2019 for private companies. Once effective, the standard will be applied using a modified retrospective transition method to the beginning of the earliest period presented. The Company is currently assessing the impact this new standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation (Topic 718). This ASU was issued as part of FASB’s Simplification Initiative. The areas for simplification in this Update include income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows for share-based payment transactions. For public companies, this ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. For all other entities, the amendments will be effective for annual periods beginning after December 31, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently assessing the impact this new standard will have on its consolidated financial statements. In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016 - 13, Financial Instruments - Credit Losses. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. For public business entities that are U.S. Securities and Exchange Commission filers, the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other public business entities, the amendments are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. For all other entities, the amendments in this u pdate are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Company is currently evaluating the impact the adoption of ASU 2016-13 will have on its consolidated financial statements and results of operations. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31 , 201 6 . |
Other Comprehensive Income (L24
Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Other Comprehensive Income (Loss) [Abstract] | |
Schedule Of Comprehensive Income (Loss) | Three Months Ended June 30, 2016 2015 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 626 $ (212) $ 414 $ (865) $ 294 $ (571) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive income (loss) $ 626 $ (212) $ 414 $ (865) $ 294 $ (571) Six Months Ended June 30, 2016 2015 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive income (loss): Unrealized holding gains (losses) on securities available for sale $ 1,057 $ (359) $ 698 $ (527) $ 179 $ (348) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - (139) 47 (92) Total other comprehensive income (loss) $ 1,057 $ (359) $ 698 $ (666) $ 226 $ (440) 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 for the three months ended |
Schedule Of The Realized Gains On Securities Available For Sale, Net Of Tax | Six Months Ended June 30, 2016 2015 (In Thousands) Securities available for sale: Realized gains on securities transactions $ - $ (139) Income taxes - 47 Net of tax $ - $ (92) |
Schedule Of Accumulated Other Comprehensive Income | Securities Available for Sale Three Months Ended June 30, 2016 and 2015 (In Thousands) Balance March 31, 2016 $ 1,520 Other comprehensive income before reclassifications 414 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 414 Balance June 30, 2016 $ 1,934 Balance March 31, 2015 $ 1,596 Other comprehensive loss before reclassifications (571) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period (571) Balance June 30, 2015 $ 1,025 Six Months Ended June 30, 2016 and 2015 Balance January 1, 2016 $ 1,236 Other comprehensive income before reclassifications 698 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 698 Balance June 30, 2016 $ 1,934 Balance January 1, 2015 $ 1,465 Other comprehensive loss before reclassifications (348) Amounts reclassified from accumulated other comprehensive income (92) Net other comprehensive loss during the period (440) Balance June 30, 2015 $ 1,025 |
Basic And Diluted Earnings Pe25
Basic And Diluted Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Dollars In Thousands, Except Per Share Data) Net income $ 1,664 $ 1,678 $ 3,272 $ 3,619 Weighted average shares outstanding 7,413,482 7,366,873 7,412,438 7,365,865 Dilutive effect of potential common shares, stock options 33,744 32,922 33,325 32,163 Diluted weighted average common shares outstanding 7,447,226 7,399,795 7,445,763 7,398,028 Basic earnings per share $ 0.22 $ 0.23 $ 0.44 $ 0.49 Diluted earnings per share $ 0.22 $ 0.23 $ 0.44 $ 0.49 |
Securities Available For Sale (
Securities Available For Sale (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 : U.S. Government agency obligations $ 31,596 $ 267 $ - $ 31,863 Municipal bonds 39,045 2,508 - 41,553 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 16,309 154 - 16,463 Total $ 86,950 $ 2,929 $ - $ 89,879 December 31, 2015 : U.S. Government agency obligations $ 34,676 $ 15 $ (121) $ 34,570 Municipal bonds 39,378 1,970 (144) 41,204 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 1,327 152 - 1,479 Total $ 75,381 $ 2,137 $ (265) $ 77,253 |
Securities Available-For-Sale By Contractual Maturity | Amortized Fair Cost Value (In Thousands) Due in one year or less $ 7,070 $ 7,077 Due after one year through five years 29,865 30,283 Due after five years through ten years 18,964 20,094 Due after ten years 14,742 15,962 70,641 73,416 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 16,309 16,463 $ 86,950 $ 89,879 |
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 December 31, 2015 : (In Thousands) U.S. Government agency obligations $ 25,525 $ (121) $ - $ - $ 25,525 $ (121) Municipal bonds 6,180 (144) - - 6,180 (144) Total Temporarily Impaired Securities $ 31,705 $ (265) $ - $ - $ 31,705 $ (265) |
Loans Receivable And Credit Q27
Loans Receivable And Credit Quality (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Loans Receivable And Credit Quality [Abstract] | |
Composition Of Loans Receivable | June 30, 2016 December 31, 2015 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 295,746 40.43% $ 289,304 41.92% Commercial construction 23,600 3.23% 17,786 2.58% Commercial 40,043 5.47% 34,955 5.06% Residential real estate 371,413 50.78% 347,316 50.33% Consumer 679 0.09% 745 0.11% Total loans 731,481 100.00% 690,106 100.00% Unearned origination fees 97 9 Allowance for loan losses (6,279) (6,068) $ 725,299 $ 684,047 |
Schedule Of Loan Portfolio By Aggregate Risk Rating | Pass Special Mention Substandard Doubtful Total June 30, 2016 (In Thousands) Commercial real estate $ 294,131 $ 21 $ 1,594 $ - $ 295,746 Commercial construction 22,785 - 815 - 23,600 Commercial 40,028 15 - - 40,043 Residential real estate 370,493 345 575 - 371,413 Consumer 679 - - - 679 Total $ 728,116 $ 381 $ 2,984 $ - $ 731,481 December 31, 2015 Commercial real estate $ 287,755 $ - $ 1,549 $ - $ 289,304 Commercial construction 16,971 - 815 - 17,786 Commercial 34,889 66 - - 34,955 Residential real estate 346,787 - 529 - 347,316 Consumer 745 - - - 745 Total $ 687,147 $ 66 $ 2,893 $ - $ 690,106 |
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, 2016 (In Thousands) With no related allowance recorded: Commercial real estate $ 3,655 $ 3,974 $ 3,667 $ 19 $ 3,659 $ 37 Commercial construction 815 815 815 7 815 14 Commercial - - - - - - Residential real estate 800 808 811 2 793 3 Consumer - - - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - $ - Commercial construction - - - - - - - Commercial 268 268 61 261 3 281 6 Residential real estate 1,113 1,113 349 970 3 925 4 Consumer - - - - - - - Total: Commercial real estate $ 3,655 $ 3,974 $ - $ 3,667 $ 19 $ 3,659 $ 37 Commercial construction 815 815 - 815 7 815 14 Commercial 268 268 61 261 3 281 6 Residential real estate 1,913 1,921 349 1,781 5 1,718 7 Consumer - - - - - - - $ 6,651 $ 6,978 $ 410 $ 6,524 $ 34 $ 6,473 $ 64 December 31, 2015 With no related allowance recorded: Commercial real estate $ 3,644 $ 3,928 $ 3,672 $ 139 Commercial construction 815 815 1,096 38 Commercial - - - - Residential real estate 758 758 1,029 10 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ 336 $ - Commercial construction - - - - - Commercial 321 321 115 323 10 Residential real estate 834 834 255 878 5 Consumer - - - - - Total: Commercial real estate $ 3,644 $ 3,928 $ - $ 4,008 $ 139 Commercial construction 815 815 - 1,096 38 Commercial 321 321 115 323 10 Residential real estate 1,592 1,592 255 1,907 15 Consumer - - - - - $ 6,372 $ 6,656 $ 370 $ 7,334 $ 202 |
Schedule Of Nonaccrual Loans | June 30, 2016 December 31, 2015 (In Thousands) Commercial real estate $ 221 $ 164 Commercial construction - - Commercial 15 66 Residential real estate 865 529 Consumer - - Total $ 1,101 $ 759 |
Schedule Of Past Due Loans | Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing June 30, 2016 (In Thousands) Commercial real estate $ 46 $ - $ 221 $ 267 $ 295,479 $ 295,746 $ - Commercial construction - - - - 23,600 23,600 - Commercial 188 - 15 203 39,840 40,043 - Residential real estate 856 - 865 1,721 369,692 371,413 - Consumer - - - - 679 679 - Total $ 1,090 $ - $ 1,101 $ 2,191 $ 729,290 $ 731,481 $ - December 31, 2015 Commercial real estate $ 219 $ - $ 164 $ 383 $ 288,921 $ 289,304 $ - Commercial construction 500 - - 500 17,286 17,786 - Commercial - - 66 66 34,889 34,955 - Residential real estate 159 76 529 764 346,552 347,316 - Consumer - - - - 745 745 - Total $ 878 $ 76 $ 759 $ 1,713 $ 688,393 $ 690,106 $ - |
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, 2016 Beginning Balance - March 31, 2016 $ 2,157 $ 371 $ 396 $ 2,581 $ 30 $ 674 $ 6,209 Charge-offs - - - - - - - Recoveries - - - - - - - Provisions 21 56 22 206 - (235) 70 Ending Balance - June 30, 2016 $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Six Months Ending June 30, 2016 Beginning Balance - December 31, 2015 $ 2,132 $ 294 $ 402 $ 2,529 $ 29 $ 682 $ 6,068 Charge-offs (35) - - (9) - - (44) Recoveries - - - - - - - Provisions 81 133 16 267 1 (243) 255 Ending Balance - June 30, 2016 $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Three Months Ending June 30, 2015 Beginning Balance - March 31, 2015 $ 1,987 $ 325 $ 462 $ 2,230 $ 22 $ 609 $ 5,635 Charge-offs (46) - - (9) - - (55) Recoveries - - - - - - - Provisions 64 8 (71) 196 10 (87) 120 Ending Balance - June 30, 2015 $ 2,005 $ 333 $ 391 $ 2,417 $ 32 $ 522 $ 5,700 Six Months Ending June 30, 2015 Beginning Balance - December 31, 2014 $ 1,704 $ 401 $ 407 $ 1,955 $ 22 $ 1,125 $ 5,614 Charge-offs (46) - - (10) - - (56) Recoveries - - - - - - - Provisions 347 (68) (16) 472 10 (603) 142 Ending Balance - June 30, 2015 $ 2,005 $ 333 $ 391 $ 2,417 $ 32 $ 522 $ 5,700 |
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, 2016 Allowance for Loan Losses Ending Balance $ 2,178 $ 427 $ 418 $ 2,787 $ 30 $ 439 $ 6,279 Ending balance: individually evaluated for impairment $ - $ - $ 61 $ 349 $ - $ - $ 410 Ending balance: collectively evaluated for impairment $ 2,178 $ 427 $ 357 $ 2,438 $ 30 $ 439 $ 5,869 Loans receivables: Ending balance $ 295,746 $ 23,600 $ 40,043 $ 371,413 $ 679 $ 731,481 Ending balance: individually evaluated for impairment $ 3,655 $ 815 $ 268 $ 1,913 $ - $ 6,651 Ending balance: collectively evaluated for impairment $ 292,091 $ 22,785 $ 39,775 $ 369,500 $ 679 $ 724,830 December 31, 2015 Allowance for Loan Losses Ending Balance $ 2,132 $ 294 $ 402 $ 2,529 $ 29 $ 682 $ 6,068 Ending balance: individually evaluated for impairment $ - $ - $ 115 $ 255 $ - $ - $ 370 Ending balance: collectively evaluated for impairment $ 2,132 $ 294 $ 287 $ 2,274 $ 29 $ 682 $ 5,698 Loans receivables: Ending balance $ 289,304 $ 17,786 $ 34,955 $ 347,316 $ 745 $ 690,106 Ending balance: individually evaluated for impairment $ 3,644 $ 815 $ 321 $ 1,592 $ - $ 6,372 Ending balance: collectively evaluated for impairment $ 285,660 $ 16,971 $ 34,634 $ 345,724 $ 745 $ 683,734 |
Troubled Debt Restructuring Outstanding | June 30, 2016 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ 3,111 $ - $ 3,111 Commercial construction 260 - 260 Commercial 253 - 253 Residential real estate 1,048 - 1,048 Consumer - - - $ 4,672 $ - $ 4,672 December 31, 2015 Accrual Loans Non-Accrual Loans Total Modifications (In Thousands) Commercial real estate $ 3,145 $ - $ 3,145 Commercial construction 260 - 260 Commercial 255 - 255 Residential real estate 1,063 - 1,063 Consumer - - - $ 4,723 $ - $ 4,723 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |
Fair Value Of Financial Assets Measured On Recurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) U.S. Government agency obligations $ - $ 31,863 $ - $ 31,863 Municipal bonds - 41,553 - 41,553 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 16,463 - 16,463 June 30, 2016 Securities available for sale $ - $ 89,879 $ - $ 89,879 U.S. Government agency obligations $ - $ 34,570 $ - $ 34,570 Municipal bonds - 41,204 - 41,204 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 1,479 - 1,479 December 31, 2015 Securities available for sale $ - $ 77,253 $ - $ 77,253 |
Fair Value Of Financial Assets Measured On Nonrecurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) June 30, 2016 Impaired loans (1) $ - $ - $ 971 $ 971 June 30, 2016 Impaired loans (2) $ - $ - $ - $ - June 30, 2016 Other real estate owned (1) $ - $ - $ 621 $ 621 December 31, 2015 Impaired loans (1) $ - $ - $ 785 $ 785 December 31, 2015 Impaired loans (2) $ - $ - $ - $ - December 31, 2015 Other real estate owned (1) $ - $ - $ 1,224 $ 1,224 (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, 2016: Impaired loans $ 971 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% ( -17.4% ) Liquidation expenses (3) 0% to -10.0% ( -8.3% ) Other real estate owned $ 621 Listings, Letters of Intent Liquidation expenses (3) -5% ( -5% ) & Third Party Evaluations (4) December 31, 2015: Impaired loans $ 785 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -25% ( -25.0% ) Liquidation expenses (3) 0% to - 7.5% ( -7.5% ) Other real estate owned $ 1,224 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 appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 3. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. 4. Fair value is determined by listings, letters of intent or third-party evaluations. |
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, 2016: Financial assets: Cash and cash equivalents $ 24,125 $ 24,125 $ 24,125 $ - $ - Interest bearing time deposits - - - - - Securities available-for-sale 89,879 89,879 - 89,879 - Loans receivable, net of allowance 725,299 737,385 - - 737,385 Restricted investments in bank stock 624 624 - 624 - Accrued interest receivable 1,692 1,692 - 1,692 - Financial liabilities: Deposits 774,494 775,560 - 775,560 - Securities sold under agreements to repurchase and federal funds purchased 8,603 8,602 - 8,602 - Short-term borrowings - - - - - Long-term borrowings - - - - - Accrued interest payable 671 671 - 671 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2015: Financial assets: Cash and cash equivalents $ 19,526 $ 19,527 $ 19,527 $ - $ - Interest bearing time deposits - - - - - Securities available-for-sale 77,253 77,253 - 77,253 - Loans receivable, net of allowance 684,047 688,645 - - 688,645 Restricted investments in bank stock 2,178 2,178 - 2,178 - Accrued interest receivable 1,637 1,637 - 1,637 - Financial liabilities: Deposits 660,266 660,503 - 660,503 - Securities sold under agreements to repurchase and federal funds purchased 27,535 27,529 - 27,529 - Short-term borrowings 39,306 39,273 - 39,273 - Long-term borrowings 3,820 3,740 - - 3,740 Accrued interest payable 462 462 - 462 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Offsetting Assets And Liabili29
Offsetting Assets And Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
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, 2016 Repurchase Agreements: Corporate Institutions $ 8,603 $ - $ 8,603 $ (8,603) $ - $ - December 31, 2015 Repurchase Agreements: Corporate Institutions $ 27,535 $ - $ 27,535 $ (27,535) $ - $ - |
Basis Of Presentation (Details)
Basis Of Presentation (Details) | Jul. 15, 2016itemshares | Jun. 30, 2016 |
Subsequent Event [Line Items] | ||
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 | |
Subsequent Event [Member] | Employee Stock Purchase Plan [Member] | ||
Subsequent Event [Line Items] | ||
Minimum work hours per week | item | 20 | |
Minimum months to be eligible to participate | 5 months | |
Number of shares authorized | shares | 350,000 |
Stock Incentive Plan (Details)
Stock Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 69 Months Ended | ||||||
Jan. 31, 2014 | Feb. 28, 2013 | Feb. 29, 2012 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Stock option compensation expense | $ 37 | $ 25 | |||||||||
Stock Options [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Stock option compensation expense | $ 6 | $ 10 | 15 | $ 25 | |||||||
Stock options granted | 29,663 | 29,742 | 52,611 | 0 | 0 | ||||||
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 Options [Member] | Granted In 2014 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Unrecognized compensation cost | $ 13 | $ 13 | $ 13 | ||||||||
Unrecognized compensation cost, recognition period | 6 months 18 days | ||||||||||
Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Awards granted | 0 | 0 | 5,934 | 9,122 | 65,774 | ||||||
Restricted stock awards compensation expense | $ 10 | $ 0 | $ 22 | $ 0 | |||||||
Minimum [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period | 3 years | ||||||||||
Maximum [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period | 9 years | ||||||||||
Stock Incentive Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period | 10 years | ||||||||||
Number of shares authorized | 500,000 | 500,000 | 500,000 | ||||||||
Shares available for issuance | 322,210 | 322,210 | 322,210 |
Other Comprehensive Income (L32
Other Comprehensive Income (Loss) (Schedule Of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Other Comprehensive Income (Loss) [Abstract] | |||||
Unrealized holding gains (losses) on securities available for sale, Before Tax | $ 626 | $ (865) | $ 1,057 | $ (527) | |
Unrealized holding gains (losses) on securities available for sale, Tax Effect | (212) | 294 | (359) | 179 | |
Unrealized holding gains (losses) on securities available for sale, Net of Tax | 414 | (571) | 698 | (348) | |
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | [1],[2] | (139) | |||
Reclassification adjustments for gains on securities transactions in net income: Tax Effect | [1],[2] | 47 | |||
Reclassification adjustments for gains on securities transactions in net income: Net of Tax | [1],[2] | (92) | |||
Total other comprehensive income (loss), before tax | 626 | (865) | 1,057 | (666) | |
Total other comprehensive income (loss), Tax Effect | (212) | 294 | (359) | 226 | |
Other comprehensive gain (loss), net of tax | $ 414 | $ (571) | $ 698 | $ (440) | |
[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 (L33
Other Comprehensive Income (Loss) (Schedule Of The Realized Gains On Securities Available For Sale, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2015 | ||
Other Comprehensive Income (Loss) [Abstract] | ||||
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | [1],[2] | $ (139) | ||
Income taxes | [1],[2] | 47 | ||
Reclassification adjustments for gains on securities transactions in net income: Net of Tax | [1],[2] | $ (92) | ||
[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 Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Other Comprehensive Income (Loss) [Abstract] | ||||
Beginning Balance | $ 1,520 | $ 1,596 | $ 1,236 | $ 1,465 |
Other comprehensive income before reclassifications | 414 | (571) | 698 | (348) |
Amounts reclassified from accumulated other comprehensive income | (92) | |||
Other comprehensive gain (loss), net of tax | 414 | (571) | 698 | (440) |
Ending Balance | $ 1,934 | $ 1,025 | $ 1,934 | $ 1,025 |
Basic And Diluted Earnings Pe35
Basic And Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Basic And Diluted Earnings Per Share [Abstract] | ||||
Net income | $ 1,664 | $ 1,678 | $ 3,272 | $ 3,619 |
Weighted average shares outstanding | 7,413,482 | 7,366,873 | 7,412,438 | 7,365,865 |
Dilutive effect of potential common shares, stock options | 33,744 | 32,922 | 33,325 | 32,163 |
Diluted weighted average common shares outstanding | 7,447,226 | 7,399,795 | 7,445,763 | 7,398,028 |
Basic earnings per share | $ 0.22 | $ 0.23 | $ 0.44 | $ 0.49 |
Diluted earnings per share | $ 0.22 | $ 0.23 | $ 0.44 | $ 0.49 |
Stock Excluded from Diluted Earnings Per Share Computation | 0 | 9,122 | 0 | 9,122 |
Guarantees (Details)
Guarantees (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Guarantor Obligations [Line Items] | |
Guarantee obligations term | 1 year |
Maximum Potential Exposure | $ 3.6 |
Federal Home Loan Bank of Pittsburgh [Member] | |
Guarantor Obligations [Line Items] | |
Letters of Credit Outstanding | 7.9 |
Financial Standby Letter of Credit [Member] | |
Guarantor Obligations [Line Items] | |
Stand by letters of credit | $ 3.7 |
Short-Term And Long-Term Borr37
Short-Term And Long-Term Borrowings (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016USD ($)itemshares | Dec. 31, 2015USD ($) | |
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 426,500 | |
Short-term borrowings | $ 39,306 | |
Long-term borrowings | 3,820 | |
Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Federal Home Loan Bank advance period | 60 months | |
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 | 4,000 | |
Line of credit outstanding | $ 0 | $ 0 |
Number of lines of credit | item | 1 | |
Number of shares used to secure the lines of credit | shares | 333,333 |
Securities Available For Sale38
Securities Available For Sale (Narrative) (Details) | 6 Months Ended | ||
Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)security | Dec. 31, 2015USD ($) | |
Securities Available For Sale [Abstract] | |||
Realized gains | $ 139,000 | ||
Realized losses | $ 0 | ||
Securities in an unrealized loss position | security | 0 | ||
Securities pledged as collateral | $ 57,400,000 | $ 64,900,000 |
Securities Available For Sale39
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | $ 86,950 | $ 75,381 |
Gross Unrealized Gains | 2,929 | 2,137 |
Gross Unrealized Losses | (265) | |
Fair Value | 89,879 | 77,253 |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 31,596 | 34,676 |
Gross Unrealized Gains | 267 | 15 |
Gross Unrealized Losses | (121) | |
Fair Value | 31,863 | 34,570 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 39,045 | 39,378 |
Gross Unrealized Gains | 2,508 | 1,970 |
Gross Unrealized Losses | (144) | |
Fair Value | 41,553 | 41,204 |
U.S. GSE - Mortgage-Backed Securities - Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Total | 16,309 | 1,327 |
Gross Unrealized Gains | 154 | 152 |
Fair Value | $ 16,463 | $ 1,479 |
Securities Available For Sale40
Securities Available For Sale (Securities Available-For-Sale By Contractual Maturity) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Securities Available For Sale [Abstract] | ||
Amortized Cost, Due in one year or less | $ 7,070 | |
Amortized Cost, Due after one year through five years | 29,865 | |
Amortized Cost, Due after five years through ten years | 18,964 | |
Amortized Cost, Due after ten years | 14,742 | |
Amortized Cost, Debt Maturities, Total | 70,641 | |
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 16,309 | |
Amortized Cost, Total | 86,950 | $ 75,381 |
Fair Value, Due in one year or less | 7,077 | |
Fair Value, Due after one year through five years | 30,283 | |
Fair Value, Due after five years through ten years | 20,094 | |
Fair Value, Due after ten years | 15,962 | |
Fair Value, Debt maturities, Total | 73,416 | |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential | 16,463 | |
Fair Value, Total | $ 89,879 | $ 77,253 |
Securities Available For Sale41
Securities Available For Sale (Investments' Gross Unrealized Losses And Fair Value) (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Fair Value, Less Than 12 Months | $ 31,705 |
Fair Value, Total | 31,705 |
Unrealized Losses, Less Than 12 Months | (265) |
Unrealized Losses, Total | (265) |
U.S Government Agency Obligations [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Fair Value, Less Than 12 Months | 25,525 |
Fair Value, Total | 25,525 |
Unrealized Losses, Less Than 12 Months | (121) |
Unrealized Losses, Total | (121) |
Municipal Bonds [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Fair Value, Less Than 12 Months | 6,180 |
Fair Value, Total | 6,180 |
Unrealized Losses, Less Than 12 Months | (144) |
Unrealized Losses, Total | $ (144) |
Restricted Investment In Bank42
Restricted Investment In Bank Stock (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Restricted Investment In Bank Stock [Abstract] | ||||
FHLB stock repurchased | $ 262 | $ 114 | $ 2,100 | $ 114 |
Payments to Acquire Federal Home Loan Bank Stock | 352 | 983 | 537 | 1,800 |
Restricted stock dividends received | $ 17 | $ 13 | $ 42 | $ 58 |
Loans Receivable And Credit Q43
Loans Receivable And Credit Quality (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($)loan | Jun. 30, 2015loan | Jun. 30, 2016USD ($)loan | Jun. 30, 2015loan | |
Loans Receivable And Credit Quality [Abstract] | ||||
Available Commitments Outstanding on TDRs | $ | $ 0 | $ 0 | ||
Number of Loans | 0 | 0 | 0 | 0 |
Number of Loans experiencing payment default | 0 | 0 | 0 | 0 |
Loans Receivable And Credit Q44
Loans Receivable And Credit Quality (Composition Of Loans Receivable) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 100.00% | 100.00% |
Gross loans | $ 731,481 | $ 690,106 |
Unearned origination fees | 97 | 9 |
Allowance for loan losses | (6,279) | (6,068) |
Net Loans Receivable | $ 725,299 | $ 684,047 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 40.43% | 41.92% |
Gross loans | $ 295,746 | $ 289,304 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 5.47% | 5.06% |
Gross loans | $ 40,043 | $ 34,955 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 50.78% | 50.33% |
Gross loans | $ 371,413 | $ 347,316 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 0.09% | 0.11% |
Gross loans | $ 679 | $ 745 |
Construction [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of Total Loans | 3.23% | 2.58% |
Gross loans | $ 23,600 | $ 17,786 |
Loans Receivable And Credit Q45
Loans Receivable And Credit Quality (Schedule Of Loan Portfolio By Aggregate Risk Rating) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 731,481 | $ 690,106 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 728,116 | 687,147 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 381 | 66 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,984 | 2,893 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 295,746 | 289,304 |
Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 294,131 | 287,755 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 21 | |
Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,594 | 1,549 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 40,043 | 34,955 |
Commercial [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 40,028 | 34,889 |
Commercial [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 15 | 66 |
Commercial [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 23,600 | 17,786 |
Commercial [Member] | Construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 22,785 | 16,971 |
Commercial [Member] | Construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 815 | 815 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 371,413 | 347,316 |
Residential Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 370,493 | 346,787 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 345 | |
Residential Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 575 | 529 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 679 | 745 |
Consumer [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 679 | $ 745 |
Loans Receivable And Credit Q46
Loans Receivable And Credit Quality (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | $ 5,300 | $ 5,300 | |
Impaired loans with related allowance | 1,400 | 1,400 | |
Total Recorded Investment Impaired | 6,651 | 6,651 | $ 6,372 |
Total Unpaid Principal Balance Impaired | 6,978 | 6,978 | 6,656 |
Related Allowance | 410 | 410 | 370 |
Total Average Recorded Investment Impaired | 6,524 | 6,473 | 7,334 |
Total Interest Income Recognized Impaired | 34 | 64 | 202 |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 3,655 | 3,655 | 3,644 |
Total Recorded Investment Impaired | 3,655 | 3,655 | 3,644 |
Unpaid Principal Balance, With no related allowance recorded | 3,974 | 3,974 | 3,928 |
Total Unpaid Principal Balance Impaired | 3,974 | 3,974 | 3,928 |
Average Recorded Investment, With no related allowance recorded | 3,667 | 3,659 | 3,672 |
Average Recorded Investment, With an allowance recorded | 336 | ||
Total Average Recorded Investment Impaired | 3,667 | 3,659 | 4,008 |
Interest Income Recognized, With no related allowance recorded | 19 | 37 | 139 |
Total Interest Income Recognized Impaired | 19 | 37 | 139 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans with related allowance | 268 | 268 | 321 |
Total Recorded Investment Impaired | 268 | 268 | 321 |
Unpaid Principal Balance, With an allowance recorded | 268 | 268 | 321 |
Total Unpaid Principal Balance Impaired | 268 | 268 | 321 |
Related Allowance | 61 | 61 | 115 |
Average Recorded Investment, With an allowance recorded | 261 | 281 | 323 |
Total Average Recorded Investment Impaired | 261 | 281 | 323 |
Interest Income Recognized, With an allowance recorded | 3 | 6 | 10 |
Total Interest Income Recognized Impaired | 3 | 6 | 10 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 800 | 800 | 758 |
Impaired loans with related allowance | 1,113 | 1,113 | 834 |
Total Recorded Investment Impaired | 1,913 | 1,913 | 1,592 |
Unpaid Principal Balance, With no related allowance recorded | 808 | 808 | 758 |
Unpaid Principal Balance, With an allowance recorded | 1,113 | 1,113 | 834 |
Total Unpaid Principal Balance Impaired | 1,921 | 1,921 | 1,592 |
Related Allowance | 349 | 349 | 255 |
Average Recorded Investment, With no related allowance recorded | 811 | 793 | 1,029 |
Average Recorded Investment, With an allowance recorded | 970 | 925 | 878 |
Total Average Recorded Investment Impaired | 1,781 | 1,718 | 1,907 |
Interest Income Recognized, With no related allowance recorded | 2 | 3 | 10 |
Interest Income Recognized, With an allowance recorded | 3 | 4 | 5 |
Total Interest Income Recognized Impaired | 5 | 7 | 15 |
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 | |||
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 | |||
Construction [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired loans without related allowance | 815 | 815 | 815 |
Total Recorded Investment Impaired | 815 | 815 | 815 |
Unpaid Principal Balance, With no related allowance recorded | 815 | 815 | 815 |
Total Unpaid Principal Balance Impaired | 815 | 815 | 815 |
Average Recorded Investment, With no related allowance recorded | 815 | 815 | 1,096 |
Total Average Recorded Investment Impaired | 815 | 815 | 1,096 |
Interest Income Recognized, With no related allowance recorded | 7 | 14 | 38 |
Total Interest Income Recognized Impaired | $ 7 | $ 14 | $ 38 |
Loans Receivable And Credit Q47
Loans Receivable And Credit Quality (Schedule Of Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 1,101 | $ 759 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 221 | 164 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | 15 | 66 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 865 | $ 529 |
Loans Receivable And Credit Q48
Loans Receivable And Credit Quality (Schedule Of Past Due Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 2,191 | $ 1,713 |
Current | 729,290 | 688,393 |
Total Loan Receivables | 731,481 | 690,106 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,090 | 878 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 76 | |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,101 | 759 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 267 | 383 |
Current | 295,479 | 288,921 |
Total Loan Receivables | 295,746 | 289,304 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 46 | 219 |
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 221 | 164 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 203 | 66 |
Current | 39,840 | 34,889 |
Total Loan Receivables | 40,043 | 34,955 |
Commercial [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 188 | |
Commercial [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15 | 66 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,721 | 764 |
Current | 369,692 | 346,552 |
Total Loan Receivables | 371,413 | 347,316 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 856 | 159 |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 76 | |
Residential Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 865 | 529 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 679 | 745 |
Total Loan Receivables | 679 | 745 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 500 | |
Current | 23,600 | 17,286 |
Total Loan Receivables | $ 23,600 | 17,786 |
Construction [Member] | Commercial [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 500 |
Loans Receivable And Credit Q49
Loans Receivable And Credit Quality (Activity In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | $ 6,209 | $ 5,635 | $ 6,068 | $ 5,614 |
Charge-offs | (55) | (44) | (56) | |
Provisions | 70 | 120 | 255 | 142 |
Ending balance | 6,279 | 5,700 | 6,279 | 5,700 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,157 | 1,987 | 2,132 | 1,704 |
Charge-offs | (46) | (35) | (46) | |
Provisions | 21 | 64 | 81 | 347 |
Ending balance | 2,178 | 2,005 | 2,178 | 2,005 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 396 | 462 | 402 | 407 |
Provisions | 22 | (71) | 16 | (16) |
Ending balance | 418 | 391 | 418 | 391 |
Commercial [Member] | Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 371 | 325 | 294 | 401 |
Provisions | 56 | 8 | 133 | (68) |
Ending balance | 427 | 333 | 427 | 333 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,581 | 2,230 | 2,529 | 1,955 |
Charge-offs | (9) | (9) | (10) | |
Provisions | 206 | 196 | 267 | 472 |
Ending balance | 2,787 | 2,417 | 2,787 | 2,417 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 30 | 22 | 29 | 22 |
Provisions | 10 | 1 | 10 | |
Ending balance | 30 | 32 | 30 | 32 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 674 | 609 | 682 | 1,125 |
Provisions | (235) | (87) | (243) | (603) |
Ending balance | $ 439 | $ 522 | $ 439 | $ 522 |
Loans Receivable And Credit Q50
Loans Receivable And Credit Quality (Allocation For Loan Losses And The Related Portfolio Disaggregated Based On Impairment Methodology) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | $ 6,279 | $ 6,209 | $ 6,068 | $ 5,700 | $ 5,635 | $ 5,614 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 410 | 370 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 5,869 | 5,698 | ||||
Total Loan Receivables | 731,481 | 690,106 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 6,651 | 6,372 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 724,830 | 683,734 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 2,178 | 2,157 | 2,132 | 2,005 | 1,987 | 1,704 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 2,178 | 2,132 | ||||
Total Loan Receivables | 295,746 | 289,304 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 3,655 | 3,644 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 292,091 | 285,660 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 418 | 396 | 402 | 391 | 462 | 407 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 61 | 115 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 357 | 287 | ||||
Total Loan Receivables | 40,043 | 34,955 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 268 | 321 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 39,775 | 34,634 | ||||
Commercial [Member] | Construction [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 427 | 371 | 294 | 333 | 325 | 401 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 427 | 294 | ||||
Total Loan Receivables | 23,600 | 17,786 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 815 | 815 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 22,785 | 16,971 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 2,787 | 2,581 | 2,529 | 2,417 | 2,230 | 1,955 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 349 | 255 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 2,438 | 2,274 | ||||
Total Loan Receivables | 371,413 | 347,316 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 1,913 | 1,592 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 369,500 | 345,724 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 30 | 30 | 29 | 32 | 22 | 22 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 30 | 29 | ||||
Total Loan Receivables | 679 | 745 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 679 | 745 | ||||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 439 | $ 674 | 682 | $ 522 | $ 609 | $ 1,125 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | $ 439 | $ 682 |
Loans Receivable And Credit Q51
Loans Receivable And Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 4,672 | $ 4,723 |
Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 4,672 | 4,723 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 3,111 | 3,145 |
Commercial Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 3,111 | 3,145 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 253 | 255 |
Commercial [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 253 | 255 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Commercial [Member] | Construction [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,048 | 1,063 |
Residential Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 1,048 | $ 1,063 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value Measurements [Abstract] | ||
Impaired loans aggregate balance | $ 6,651 | $ 6,372 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 5,300 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,400 | |
Related Allowance | $ 410 | $ 370 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 89,879 | $ 77,253 |
U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 31,863 | 34,570 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 41,553 | 41,204 |
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 | 16,463 | 1,479 |
(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 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 89,879 | 77,253 |
(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 | 31,863 | 34,570 |
(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 | 41,553 | 41,204 |
(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 | 16,463 | 1,479 |
(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 |
Fair Value Measurements (Fair54
Fair Value Measurements (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) - FV determined through independent appraisals of the underlying collateral [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Impaired Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | [1] | $ 971 | $ 785 |
Other real estate owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | [1] | 621 | 1,224 |
(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] | 971 | 785 |
(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] | $ 621 | $ 1,224 |
[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. |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | ||
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | [1],[2] | $ 971 | $ 785 |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Minimum [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [3] | (25.00%) | (25.00%) |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Maximum [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [3] | 0.00% | 0.00% |
Impaired Loan [Member] | Market Approach Valuation Technique [Member] | Weighted Average [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [3] | (17.40%) | (25.00%) |
Impaired Loan [Member] | Cost Approach Valuation Technique [Member] | Minimum [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [4] | (10.00%) | (7.50%) |
Impaired Loan [Member] | Cost Approach Valuation Technique [Member] | Maximum [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [4] | 0.00% | 0.00% |
Impaired Loan [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | (7.50%) | ||
Impaired Loan [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [4] | (8.30%) | |
Other real estate owned [Member] | Market Approach Valuation Technique [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Asset fair value | [1],[5] | $ 621 | $ 1,224 |
Range (Weighted Average) | [4] | (5.00%) | |
Other real estate owned [Member] | Cost Approach Valuation Technique [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [4] | (5.00%) | |
Other real estate owned [Member] | Cost Approach Valuation Technique [Member] | Weighted Average [Member] | (Level 3) Significant Unobservable Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [4] | (5.00%) | (5.00%) |
[1] | Fair value is determined using the debt service of the borrower. | ||
[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. |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 89,879 | $ 77,253 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 24,125 | 19,526 |
Securities available for sale | 89,879 | 77,253 |
Loans receivable, net of allowance | 725,299 | 684,047 |
Restricted investment in bank stock | 624 | 2,178 |
Accrued interest receivable | 1,692 | 1,637 |
Deposits | 774,494 | 660,266 |
Securities sold under agreements to repurchase and federal funds purchased | 8,603 | 27,535 |
Short-term borrowings | 39,306 | |
Long-term borrowings | 3,820 | |
Accrued interest payable | 671 | 462 |
Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 24,125 | 19,527 |
Securities available for sale | 89,879 | 77,253 |
Loans receivable, net of allowance | 737,385 | 688,645 |
Restricted investment in bank stock | 624 | 2,178 |
Accrued interest receivable | 1,692 | 1,637 |
Deposits | 775,560 | 660,503 |
Securities sold under agreements to repurchase and federal funds purchased | 8,602 | 27,529 |
Short-term borrowings | 39,273 | |
Long-term borrowings | 3,740 | |
Accrued interest payable | 671 | 462 |
(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 | 24,125 | 19,527 |
Securities available for sale | ||
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 89,879 | 77,253 |
Restricted investment in bank stock | 624 | 2,178 |
Accrued interest receivable | 1,692 | 1,637 |
Deposits | 775,560 | 660,503 |
Securities sold under agreements to repurchase and federal funds purchased | 8,602 | 27,529 |
Short-term borrowings | 39,273 | |
Accrued interest payable | 671 | 462 |
(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 | $ 737,385 | 688,645 |
Long-term borrowings | $ 3,740 |
Offsetting Assets And Liabili57
Offsetting Assets And Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Securities Pledged as Collateral [Member] | ||
Offsetting Liabilities [Line Items] | ||
Off-balance sheet financial instruments | $ 11,900 | $ 35,000 |
Repurchase Agreements [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | 8,603 | 27,535 |
Gross Amounts Offset in the Consolidated Balance Sheet | ||
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | 8,603 | 27,535 |
Financial Instruments | (8,603) | (27,535) |
Cash Collateral Pledged | ||
Net Amount |