Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Sep. 02, 2015 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | LOB | |
Entity Registrant Name | Live Oak Bancshares, Inc. | |
Entity Central Index Key | 1,462,120 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Voting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 29,442,615 | |
Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 4,723,530 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | ||
Assets | ||||
Cash and due from banks | $ 131,487 | $ 29,902 | [1] | |
Certificates of deposit with other banks | 10,000 | 10,000 | [1] | |
Investment securities available-for-sale | 50,719 | 49,318 | [1] | |
Loans held for sale | 356,481 | 295,180 | [1] | |
Loans held for investment | 237,612 | 203,936 | [1] | |
Allowance for loan losses | (5,183) | (4,407) | [1] | |
Net loans | 232,429 | 199,529 | [1] | |
Premises and equipment, net | 57,310 | 35,279 | [1] | |
Foreclosed assets | 34 | 371 | [1] | |
Servicing assets | 39,983 | 34,999 | [1] | |
Investments in non-consolidated affiliates | [1] | 6,345 | ||
Other assets | 20,972 | 12,392 | [1] | |
Total assets | 899,415 | 673,315 | [1] | |
Deposits: | ||||
Noninterest-bearing | 15,749 | 14,728 | [1] | |
Interest-bearing | 711,597 | 507,352 | [1] | |
Total deposits | 727,346 | 522,080 | [1] | |
Short term borrowings | [1] | 6,100 | ||
Long term borrowings | 54,490 | 41,849 | [1] | |
Other liabilities | 14,198 | 11,472 | [1] | |
Total liabilities | 796,034 | 581,501 | [1] | |
Shareholders' equity | ||||
Retained earnings (accumulated deficit) | 4,206 | (6,943) | [1] | |
Accumulated other comprehensive income | 1 | 85 | [1] | |
Total shareholders' equity attributed to Live Oak Bancshares, Inc. | 103,344 | 91,814 | [1] | |
Noncontrolling interest | 37 | |||
Total equity | 103,381 | 91,814 | [1] | |
Total liabilities and shareholders' equity | $ 899,415 | $ 673,315 | [1] | |
Non-cumulative Perpetual Preferred Stock (Series A) [Member] | ||||
Shareholders' equity | ||||
Preferred stock | ||||
Preferred Stock Undefined [Member] | ||||
Shareholders' equity | ||||
Preferred stock | ||||
Class A Common Stock [Member] | ||||
Shareholders' equity | ||||
Common stock | $ 49,122 | $ 48,657 | [1] | |
Class B Common Stock [Member] | ||||
Shareholders' equity | ||||
Common stock | $ 50,015 | $ 50,015 | [1] | |
[1] | Derived from audited financial statements. |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares None in scaling factor is -9223372036854775296 | Jun. 30, 2015 | Dec. 31, 2014 | [1] |
Non-cumulative Perpetual Preferred Stock (Series A) [Member] | |||
Preferred stock, shares authorized | 6,800 | 6,800 | |
Preferred stock, shares issued | 6,800 | 6,800 | |
Preferred stock, shares outstanding | 6,800 | 6,800 | |
Preferred Stock Undefined [Member] | |||
Preferred stock, no par value | |||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |
Preferred stock, shares issued | 0 | 0 | |
Preferred stock, shares outstanding | 0 | 0 | |
Class A Common Stock [Member] | |||
Common stock, no par value | |||
Common stock, shares authorized | 100,000,000 | 100,000,000 | |
Common stock, shares issued | 23,931,330 | 23,896,400 | |
Common stock, shares outstanding | 23,931,330 | 23,896,400 | |
Class B Common Stock [Member] | |||
Common stock, no par value | |||
Common stock, shares authorized | 10,000,000 | 10,000,000 | |
Common stock, shares issued | 4,723,530 | 4,723,530 | |
Common stock, shares outstanding | 4,723,530 | 4,723,530 | |
[1] | Derived from audited financial statements. |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income | ||||
Loans and fees on loans | $ 7,391 | $ 4,762 | $ 14,107 | $ 8,851 |
Investment securities, taxable | 200 | 99 | 376 | 199 |
Other interest earning assets | 70 | 41 | 136 | 64 |
Total interest income | 7,661 | 4,902 | 14,619 | 9,114 |
Interest expense | ||||
Deposits | 1,801 | 1,131 | 3,277 | 2,229 |
Borrowings | 444 | 204 | 885 | 357 |
Total interest expense | 2,245 | 1,335 | 4,162 | 2,586 |
Net interest income | 5,416 | 3,567 | 10,457 | 6,528 |
Provision for loan losses | 50 | 475 | 1,127 | 899 |
Net interest income after provision for loan losses | 5,366 | 3,092 | 9,330 | 5,629 |
Noninterest income | ||||
Loan servicing revenue and revaluation | 1,772 | 3,585 | 5,878 | 6,285 |
Net gains on sales of loans | 15,719 | 12,326 | 31,180 | 22,357 |
Equity in loss of non-consolidated affiliates | (1,208) | (26) | (2,202) | |
Gain on sale of investment in non-consolidated affiliate | 3,782 | |||
Other noninterest income | 644 | 405 | 1,376 | 873 |
Total noninterest income | 18,135 | 15,108 | 42,190 | 27,313 |
Noninterest expense | ||||
Salaries and employee benefits | 9,319 | 6,007 | 17,674 | 15,708 |
Travel expense | 2,212 | 1,338 | 3,672 | 2,088 |
Professional services expense | 624 | 671 | 1,532 | 1,606 |
Advertising and marketing expense | 1,118 | 722 | 2,126 | 1,520 |
Occupancy expense | 731 | 429 | 1,188 | 866 |
Data processing expense | 722 | 628 | 1,615 | 1,057 |
Equipment expense | 350 | 313 | 754 | 566 |
Other expense | 1,724 | 1,431 | 2,927 | 2,572 |
Total noninterest expense | 16,800 | 11,539 | 31,488 | 25,983 |
Income before taxes | 6,701 | 6,661 | 20,032 | 6,959 |
Income tax expense | 2,766 | 8,044 | ||
Net income | 3,935 | 6,661 | 11,988 | 6,959 |
Net loss attributable to noncontrolling interest | 20 | |||
Net income attributable to Live Oak Bancshares, Inc. | $ 3,935 | $ 6,661 | $ 12,008 | $ 6,959 |
Basic earnings per share | $ 0.14 | $ 0.31 | $ 0.42 | $ 0.33 |
Diluted earnings per share | $ 0.13 | $ 0.31 | $ 0.41 | $ 0.33 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,935 | $ 6,661 | $ 11,988 | $ 6,959 |
Other comprehensive income (loss) before tax: | ||||
Net unrealized gain (loss) on investment securities arising during the period | (339) | 98 | (136) | 203 |
Reclassification adjustment for (gain) loss on sale of securities available for sale included in net income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) before tax | (339) | 98 | (136) | 203 |
Income tax expense | 131 | 52 | ||
Other comprehensive income (loss), net of tax | (208) | 98 | (84) | 203 |
Total comprehensive income | $ 3,727 | $ 6,759 | $ 11,904 | $ 7,162 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Common Stock [Member]Class A Common Stock [Member] | Common Stock [Member]Class B Common Stock [Member] | Retained Earnings (accumulated deficit) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | |
Beginning balance at Dec. 31, 2013 | $ 48,390 | $ 18,319 | $ 30,262 | $ (191) | ||||
Beginning balance, shares at Dec. 31, 2013 | 20,318,330 | |||||||
Net income (loss) | 6,959 | 6,959 | ||||||
Other comprehensive income (loss) | 203 | 203 | ||||||
Sales of common stock | 200 | 200 | ||||||
Sales of common stock, shares | 45,440 | |||||||
Stock option exercises | $ 152 | 152 | ||||||
Stock option exercise, shares | 174,990 | 174,990 | ||||||
Issuance of common stock grants | $ 2,992 | 2,992 | ||||||
Issuance of common stock grants, shares | 685,700 | |||||||
Stock option based compensation expense | 79 | 79 | ||||||
Restricted stock expense | 162 | 162 | ||||||
Dividends (distributions to shareholders) | (18,173) | (18,173) | ||||||
Ending balance at Jun. 30, 2014 | 40,964 | 21,904 | 19,048 | 12 | ||||
Ending balance, shares at Jun. 30, 2014 | 21,224,460 | |||||||
Beginning balance at Dec. 31, 2014 | 91,814 | [1] | 98,672 | (6,943) | 85 | |||
Beginning balance, shares at Dec. 31, 2014 | 23,896,400 | 4,723,530 | ||||||
Net income (loss) | 11,988 | 12,008 | $ (20) | |||||
Other comprehensive income (loss) | (84) | (84) | ||||||
Consolidation of investment with non-controlling interest | 35 | 35 | ||||||
Stock option exercises | $ 154 | 154 | ||||||
Stock option exercise, shares | 34,930 | 34,930 | ||||||
Stock option based compensation expense | $ 295 | 295 | ||||||
Restricted stock expense | 16 | 16 | ||||||
Capital contribution from non-controlling interest | 22 | 22 | ||||||
Dividends (distributions to shareholders) | (859) | (859) | ||||||
Ending balance at Jun. 30, 2015 | $ 103,381 | $ 99,137 | $ 4,206 | $ 1 | $ 37 | |||
Ending balance, shares at Jun. 30, 2015 | 23,931,330 | 4,723,530 | ||||||
[1] | Derived from audited financial statements. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | ||
Cash flows from operating activities | |||
Net income | $ 11,988 | $ 6,959 | |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | |||
Depreciation and amortization | 1,021 | 987 | |
Provision for loan losses | 1,127 | 899 | |
Amortization of premium on securities, net of accretion | 24 | 42 | |
Amortization of discount on unguaranteed loans | 1,313 | (131) | |
Deferred tax expense | 847 | ||
Originations of loans held for sale | (472,413) | (295,281) | |
Proceeds from sales of loans held for sale | 318,125 | 208,838 | |
Net gains (losses) on sale of foreclosed assets | 7 | ||
Net increase in servicing assets | (4,984) | (4,128) | |
Net gains on sale of loans held for sale | (31,180) | (22,357) | |
Gain on sale of investment in non-consolidated affiliate | (3,782) | ||
Net loss on disposal of premises and equipment | 16 | ||
Stock option based compensation expense | 295 | 79 | |
Stock grants | 2,992 | ||
Restricted stock expense | 16 | 162 | |
Equity in loss of non-consolidated affiliates | 26 | 2,202 | |
Changes in assets and liabilities: | |||
Accounts receivable and other assets | (3,192) | (1,636) | |
Accrued expenses and other liabilities | 2,402 | 8,266 | |
Net cash used by operating activities | (178,344) | (92,107) | |
Cash flows from investing activities | |||
Purchases of securities available-for-sale | (5,925) | ||
Proceeds from sales, maturities, calls, and principal paydowns of securities available-for-sale | 4,364 | 1,203 | |
Proceeds from sale of foreclosed assets | 330 | ||
Proceeds from sale of investment in non-consolidated affiliate | 9,896 | ||
Capital investments in non-consolidated affiliates | (250) | ||
Net cash acquired in consolidation of equity method investment | 319 | ||
Capital contribution from non-controlling interest | 22 | ||
Loan originations and principal collections, net | 84,252 | 43,090 | |
Purchases of premises and equipment, net | (23,068) | (8,603) | |
Net cash provided by investing activities | 70,190 | 35,440 | |
Cash flows from financing activities | |||
Net increase in deposits | 205,266 | 69,937 | |
Proceeds from long term borrowings | 21,322 | 5,760 | |
Repayment of long term borrowings | (8,681) | (131) | |
Proceeds from short term borrowings | 6,000 | ||
Repayment of short term borrowings | (6,100) | ||
Stock option exercises | 154 | 152 | |
Sale of common stock, net | 200 | ||
Shareholder dividend distributions | (2,222) | (8,086) | |
Net cash provided by financing activities | 209,739 | 73,832 | |
Net increase in cash and cash equivalents | 101,585 | 17,165 | |
Cash and cash equivalents, beginning | 29,902 | [1] | 37,244 |
Cash and cash equivalents, ending | 131,487 | 54,409 | |
Supplemental disclosure of cash flow information | |||
Interest paid | 4,152 | 2,561 | |
Income tax | 9,174 | ||
Supplemental disclosures of noncash operating, investing, and financing activities | |||
Unrealized holding gains (losses) on available-for-sale securities, net of taxes | (136) | 203 | |
Transfers of loans accounted for as secured borrowing collateral to other assets | 4,575 | ||
Dividends declared but not paid | 169 | 3,414 | |
Transfer of loans held for sale to loans held for investment | 7,400 | 12,052 | |
Transfer of loans held for investment to loans held for sale | 4,514 | 3,830 | |
Contingent consideration in acquisition of controlling interest in equity method of investment | $ 170 | ||
Non-cash dividend | $ 9,514 | ||
[1] | Derived from audited financial statements. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation Nature of Operations Live Oak Bancshares, Inc. (the “Company” or “LOB”) is a bank holding company headquartered in Wilmington, North Carolina incorporated under the laws of North Carolina in December 2008. The Company conducts business operations primarily through our commercial bank subsidiary, Live Oak Banking Company (the “Bank”). The Bank was established in May 2008 as a North Carolina-chartered commercial bank. The Bank specializes in providing lending services to small businesses nationwide in targeted industries. The Bank identifies and grows within credit-worthy industries through expertise within those industries. A significant portion of the loans originated by the Bank are guaranteed by the Small Business Administration (“SBA”) under the 7(a) program. In 2010, the Bank formed Live Oak Number One, Inc., a wholly-owned subsidiary, to hold properties foreclosed on by the Bank. In addition to the Bank, the Company owns Independence Aviation, LLC, which was formed for the purpose of purchasing and operating aircraft used for business purposes of the Company, Government Loan Solutions, Inc. (“GLS”), a management and technology consulting firm that specializes in the settlement, accounting, and securitization processes for government guaranteed loans, including loans originated under the SBA 7(a) loan programs and USDA-guaranteed loans, and 504 Fund Advisors, LLC (“504FA”), formed to serve as the investment advisor to the 504 Fund, a closed-end mutual fund organized to invest in SBA section 504 loans. The Company acquired control over 504FA, previously carried as an equity method investment, on February 2, 2015 by increasing its ownership from 50.0% to 91.3%. The acquisition of an additional 41.3% of ownership occurred in exchange for contingent consideration estimated to total $170 thousand. With 8.7% of ownership remaining with a third party investor, amounts of earnings and equity in 504FA are now disclosed in the Company’s financial statements as related to a noncontrolling interest. The Company earns revenue primarily from the sale of SBA-guaranteed loans. This income is comprised of loan servicing revenue and revaluation and net gains on sales of loans. Net interest income is a secondary contributor to our earnings. Offsetting these revenues are the cost of funding sources, provision for loan losses, any costs related to foreclosed assets and other operating costs such as salaries and employee benefits, travel, professional services, advertising and marketing and tax expense. General In the opinion of management, all adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented have been included, and all intercompany transactions have been eliminated in consolidation. Results of operations for the six months ended June 30, 2015 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2015. The consolidated balance sheet as of December 31, 2014 has been derived from the audited consolidated financial statements contained in the Company’s registration statement on Form S-1. A description of the significant accounting policies followed by the Company are as set forth in Note 1 of the Notes to Consolidated Financial Statements in the Company’s registration statement on Form S-1. The preparation of financial statements in conformity with United States generally accepted accounting principles, or GAAP, requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. All information in the Notes to Unaudited Consolidated Financial Statements has been presented in thousands, except percentage, time period, stock option, share and per share data. Stock Split On September 23, 2014, the Board of Directors declared a ten-for-one stock split of the Company’s Class A and Class B common shares, which was effected in the form of a common stock dividend distributed on October 10, 2014. Except for the amount of authorized shares, all references to share and per share amounts in the consolidated financial statements and accompanying notes to the consolidated financial statements have been retroactively restated to reflect the stock split. Business Segments Management has determined that the Company has one significant operating segment, which is providing a lending platform for small businesses nationwide. In determining the appropriateness of segment definition, the Company considers the materiality of a potential segment, the components of the business about which financial information is available, and components for which management regularly evaluates relative to resource allocation and performance assessment. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 2 - Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-05, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” ASU 2015-05 addresses accounting for fees paid by a customer in cloud computing arrangements such as (i) software as a service, (ii) platform as a service, (iii) infrastructure as a service and (iv) other similar hosting arrangements. ASU 2015-05 provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. ASU 2015-05 will be effective for us on January 1, 2016 and is not expected to have a significant impact on our financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or its Equivalent) (a Consensus of the Emerging Issues Task Force)”. The new guidance eliminates the requirement to classify in the fair value hierarchy any investments for which fair value is measured at net asset value per share using the practical expedient. This guidance is effective for interim and annual periods beginning after December 15, 2015. The adoption of this guidance is not expected to be material to the consolidated financial statements. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 3. Earnings Per Share Basic and diluted earnings per share are computed based on the weighted average number of shares outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur, upon the exercise of stock options or upon the vesting of restricted stock grants, any of which would result in the issuance of common stock that would then be shared in the net income of the Company. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic earnings per share: Net income available to common shareholders $ 3,935 $ 6,661 $ 12,008 $ 6,959 Weighted-average basic shares outstanding 28,636,182 21,202,728 28,628,177 20,790,765 Basic earnings per share $ 0.14 $ 0.31 $ 0.42 $ 0.33 Diluted earnings per share: Net income available to common shareholders, for diluted EPS $ 3,935 $ 6,661 $ 12,008 $ 6,959 Total weighted-average basic shares outstanding 28,636,182 21,202,728 28,628,177 20,790,765 Add effect of dilutive stock options and restricted stock grants 862,217 73,379 811,645 141,680 Total weighted-average diluted shares outstanding 29,498,399 21,276,107 29,439,822 20,932,445 Diluted earnings per share $ 0.13 $ 0.31 $ 0.41 $ 0.33 Anti-dilutive securities 916,199 1,528,520 956,199 1,528,520 Pro forma earnings per share Because the Company was not a taxable entity prior to August 3, 2014, pro forma amounts for income tax expense and basic and diluted earnings per share have been presented below assuming the Company’s effective tax rate of 38.5% for the three and six months ended June 30, 2014. Three Months Ended Six Months Ended Pro forma net income available to common shareholders, after tax $ 4,096 $ 4,280 Pro forma basic earnings per share $ 0.19 $ 0.21 Pro forma diluted earnings per share $ 0.19 $ 0.20 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 4. Securities The carrying amount of securities and their approximate fair values are reflected in the following table: Amortized Unrealized Unrealized Fair June 30, 2015 US government agencies $ 35,229 $ 213 $ 18 $ 35,424 Residential mortgage-backed securities 13,574 22 205 13,391 Mutual fund 1,913 — 9 1,904 $ 50,716 $ 235 $ 232 $ 50,719 December 31, 2014 US government agencies $ 35,207 $ 127 $ 25 $ 35,309 Residential mortgage-backed securities 13,973 92 56 14,009 $ 49,180 $ 219 $ 81 $ 49,318 During the three months ended June 30, 2015, the Company sold six mortgage-backed securities at their carrying amount for $3.4 million in an odd-lot consolidation and purchased two mortgage-backed securities totaling $4.0 million for the purpose of complying with the Community Reinvestment Act. In addition, during the first quarter of 2015, the Company invested $1.9 million in the 504 Fund mutual fund. The investment in this mutual fund was purchased at current market value; 190,380.762 shares at $9.98 per share. There were no calls or maturities during the three and six months ending June 30, 2015. There were no calls, purchases, sales or maturities of securities during the three and six months ended June 30, 2014. The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. Less Than 12 Months 12 Months or More Total June 30, 2015 Fair Unrealized Fair Unrealized Fair Unrealized US government agencies $ — $ — $ 1,231 $ 18 $ 1,231 $ 18 Residential mortgage-backed securities 7,451 161 3,346 44 10,797 205 Mutual fund 1,904 9 — — 1,904 9 Total $ 9,355 $ 170 $ 4,577 $ 62 $ 13,932 $ 232 Less Than 12 Months 12 Months or More Total December 31, 2014 Fair Unrealized Fair Unrealized Fair Unrealized US government agencies $ — $ — $ 1,224 $ 25 $ 1,224 $ 25 Residential mortgage-backed securities 2,234 4 5,158 52 7,392 56 Total $ 2,234 $ 4 $ 6,382 $ 77 $ 8,616 $ 81 At June 30, 2015, there were four securities, consisting of one US government agency security and three residential mortgage-backed securities, in unrealized loss positions for greater than 12 months; and six securities, consisting of five mortgage-backed securities and the 504 Fund mutual fund, in unrealized loss positions for less than 12 months. Unrealized losses at December 31, 2014, were comprised of six securities, consisting of one US agency security and five mortgage-backed securities, in unrealized loss positions for greater than 12 months; and one mortgage-backed security in an unrealized loss position for less than 12 months. These unrealized losses are primarily the result of volatility in the market and are related to market interest rates. Since none of the unrealized losses relate to marketability of the securities or the issuer’s ability to honor redemption obligations, none of the securities are deemed to be other than temporarily impaired. All residential mortgage-backed securities in the Company’s portfolio at June 30, 2015 and December 31, 2014 were backed by U.S. government sponsored enterprises (“GSEs”). The following is a summary of investment securities by maturity: June 30, 2015 Amortized Fair One to five years $ 33,979 $ 34,193 Five to ten years 2,068 2,053 After 10 years 12,756 12,569 $ 48,803 $ 48,815 The table above reflects contractual maturities. Actual results will differ as the loans underlying the mortgage-backed securities may repay sooner than scheduled. This table excludes the 540 Fund mutual fund investment. At June 30, 2015 and December 31, 2014, investment securities with a fair market value of $1.3 million were pledged to secure a line of credit with the Company’s correspondent bank. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Note 5. Loans and Allowance for Loan Losses Loan Portfolio Segments The following describe the risk characteristics relevant to each of the portfolio segments. Each loan category is assigned a risk grade during the origination and closing process based on criteria described later in this section. Commercial and Industrial Commercial and industrial loans (C&I) receive similar underwriting treatment as commercial real estate loans in that the repayment source is analyzed to determine its ability to meet cash flow coverage requirements as set forth by Bank policies. Repayment of the Bank’s C&I loans generally comes from the generation of cash flow as the result of the borrower’s business operations. This business cycle itself brings a certain level of risk to the portfolio. In some instances, these loans may carry a higher degree of risk due to a variety of reasons – illiquid collateral, specialized equipment, highly depreciable assets, uncollectable accounts receivable, revolving balances, or simply being unsecured. As a result of these characteristics, the SBA guarantee on these loans is an important factor in mitigating risk. Construction and Development Construction and development loans are for the purpose of acquisition and development of land to be improved through the construction of commercial buildings. Such loans are usually paid off through the conversion to permanent financing for the long-term benefit of the borrower’s ongoing operations. At the completion of the project, if the loan is converted to permanent financing or if scheduled loan amortization begins, it is then reclassified to the “Owner Occupied Commercial Real Estate” segment. Underwriting of construction and development loans typically includes analysis of not only the borrower’s financial condition and ability to meet the required debt obligations, but also the general market conditions associated with the area and type of project being funded. Owner Occupied Commercial Real Estate Owner occupied commercial real estate loans are extensions of credit secured by owner occupied collateral. Underwriting generally involves intensive analysis of the financial strength of the borrower and guarantor, liquidation value of the subject collateral, the associated unguaranteed exposure, and any available secondary sources of repayment, with the greatest emphasis given to a borrower’s capacity to meet cash flow coverage requirements as set forth by Bank policies. Such repayment of owner-occupied loans is commonly derived from the successful ongoing operations of the business occupying the property. These typically include small businesses and professional practices. Commercial Land Commercial land loans are extensions of credit secured by farmland. Such loans are often for land improvements related to agricultural endeavors that may include construction of new specialized facilities. These loans are usually repaid through the conversion to permanent financing, or if scheduled loan amortization begins, for the long-term benefit of the borrower’s ongoing operations. Underwriting generally involves intensive analysis of the financial strength of the borrower and guarantor, liquidation value of the subject collateral, the associated unguaranteed exposure, and any available secondary sources of repayment, with the greatest emphasis given to a borrower’s capacity to meet cash flow coverage requirements as set forth by Bank policies. Each of the loan types referenced in the sections above is further segmented into verticals in which the Bank chooses to operate - Death Care, Healthcare (medical, dental, ophthalmic), Pharmacy, Investment Advisors, Veterinary, Family Entertainment, Agriculture, Wine & Craft Beverages, Self-Storage and Hotels. Hotels is a new area of emphasis for which there was no loan activity as of June 30, 2015. The Bank chooses to finance businesses operating in these industries because of certain similarities. The similarities range from historical default and loss characteristics to business operations. However, there are differences that create the necessity to underwrite these loans according to varying criteria and guidelines. When underwriting a loan, the Bank considers numerous factors such as cash flow coverage, the credit scores of the guarantors, revenue growth and practice ownership experience and debt service capacity. Minimum guidelines have been set with regard to these various factors and deviations from those guidelines requiring compensating strengths when considering a proposed loan. Loans consist of the following: June 30, December 31, Commercial & Industrial $ 90,213 $ 81,057 Death Care Management 4,274 3,603 Family Entertainment Centers 488 333 Healthcare 12,464 12,319 Independent Pharmacies 37,379 34,079 Registered Investment Advisors 14,312 9,660 Veterinary Industry 21,070 20,902 Wine & Craft Beverage 75 — Other Industries 151 161 Construction & Development 18,282 9,526 Agriculture 7,092 3,910 Death Care Management 484 92 Family Entertainment Centers 122 — Healthcare 7,061 2,957 Independent Pharmacies 483 215 Veterinary Industry 2,698 2,207 Wine & Craft Beverage 159 — Other Industries 183 145 Owner Occupied Commercial Real Estate 124,634 111,620 Agriculture 3,127 259 Death Care Management 19,510 18,879 Family Entertainment Centers 1,294 872 Healthcare 30,343 26,173 Independent Pharmacies 5,179 4,750 Registered Investment Advisors 2,463 2,161 Self Storage 167 — Veterinary Industry 61,225 57,934 Wine & Craft Beverage 1,016 — Other Industries 310 592 Commercial Land 4,264 1,248 Agriculture 4,264 1,248 Total Loans 1 237,393 203,451 Net Deferred Costs 2,491 2,060 Discount on SBA 7(a) Unguaranteed 2 (2,272 ) (1,575 ) Loans, Net of Unearned $ 237,612 $ 203,936 1 Total loans include $21.8 million and $21.3 million of U.S. government guaranteed loans as of June 30, 2015 and December 31, 2014, respectively. 2 The Company measures the carrying value of the retained portion of loans sold at fair value under ASC Subtopic 825-10. The value of these retained loan balances is discounted based on the estimates derived from comparable unguaranteed loan sales. Credit Risk Profile The Bank uses internal loan reviews to assess the performance of individual loans by industry segment. An independent review of the loan portfolio is performed annually by an external firm. The goal of the Bank’s annual review of each borrower’s financial performance is to validate the adequacy of the risk grade assigned. The Bank uses a grading system to rank the quality of each loan. The grade is periodically evaluated and adjusted as performance dictates. Loan grades 1 through 4 are passing grades and grade 5 is special mention. Collectively, grades 6 through 8 represent classified loans in the Bank’s portfolio. The following guidelines govern the assignment of these risk grades: Exceptional Loans (1 Rated): These loans are of the highest quality, with strong, well-documented sources of repayment. Debt service coverage (“DSC”) is over 1.75X based on historical results. Secondary source of repayment is strong, with a loan to value (“LTV”) of 65% or less if secured solely by commercial real estate (“CRE”). Discounted collateral coverage from all sources should exceed 125%. Guarantors have credit scores above 740. Quality Loans (2 Rated): These loans are of good quality, with good, well-documented sources of repayment. DSC is over 1.25X based on historical or pro-forma results. Secondary source of repayment is good, with a LTV of 75% or less if secured solely by CRE. Discounted collateral coverage should exceed 100%. Guarantors have credit scores above 700. Acceptable Loans (3 rated): These loans are of acceptable quality, with acceptable sources of repayment. DSC of over 1.00X based on historical or pro-forma results. Companies that do not meet these credit metrics must be evaluated to determine if they should be graded below this level. Acceptable Loans (4 rated): These loans are considered very weak pass. These loans are riskier than a 3-rated credit, but due to various mitigating factors are not considered a Special Mention or worse. The mitigating factors must clearly be identified to offset further downgrade. Examples of loans that may be put in this category include start-up loans and loans with less than 1:1 cash flow coverage with other sources of repayment. Special mention (5 rated): These loans are considered as emerging problems, with potentially unsatisfactory characteristics. These loans require greater management attention. A loan may be put into this category if the Bank is unable to obtain financial reporting from a company to fully evaluate its position. Substandard (6 rated): Loans graded Substandard are inadequately protected by current sound net worth, paying capacity of the borrower, or pledged collateral. They typically have unsatisfactory characteristics causing more than acceptable levels of risk, and have one or more well-defined weaknesses that could jeopardize the repayment of the debt. Doubtful (7 rated): Loans graded Doubtful have inherent weaknesses that make collection or liquidation in full questionable. Loans graded Doubtful must be placed on non-accrual status. Loss (8 rated): Loss rated loans are considered uncollectible and of such little value that their continuance as an active Bank asset is not warranted. The asset should be charged off, even though partial recovery may be possible in the future. The following tables summarize the risk grades of each category: Risk Grades Risk Grade Risk Grades Total 1 June 30, 2015 Commercial & Industrial $ 73,965 $ 3,144 $ 13,104 $ 90,213 Death Care Management 4,170 104 — 4,274 Family Entertainment Centers 488 — — 488 Healthcare 7,355 920 4,189 12,464 Independent Pharmacies 31,554 1,441 4,384 37,379 Registered Investment Advisors 14,312 — — 14,312 Veterinary Industry 16,011 528 4,531 21,070 Wine & Craft Beverage 75 — — 75 Other Industries — 151 — 151 Construction & Development 18,282 — — 18,282 Agriculture 7,092 — — 7,092 Death Care Management 484 — — 484 Family Entertainment Centers 122 — — 122 Healthcare 7,061 — — 7,061 Independent Pharmacies 483 — — 483 Veterinary Industry 2,698 — — 2,698 Wine & Craft Beverage 159 — — 159 Other Industries 183 — — 183 Owner Occupied Commercial Real Estate 99,812 4,679 20,143 124,634 Agriculture 3,127 — — 3,127 Death Care Management 16,812 1,022 1,676 19,510 Family Entertainment Centers 1,294 — — 1,294 Healthcare 26,060 1,725 2,558 30,343 Independent Pharmacies 4,987 192 — 5,179 Registered Investment Advisors 2,463 — — 2,463 Self Storage 167 — — 167 Veterinary Industry 43,586 1,740 15,899 61,225 Wine & Craft Beverage 1,016 — — 1,016 Other Industries 300 — 10 310 Commercial Land 4,264 — — 4,264 Agriculture 4,264 — — 4,264 Total $ 196,323 $ 7,823 $ 33,247 $ 237,393 Risk Grades Risk Grade Risk Grades Total 1 December 31, 2014 Commercial & Industrial $ 63,777 $ 4,546 $ 12,734 $ 81,057 Death Care Management 3,603 — — 3,603 Family Entertainment Centers 333 — — 333 Healthcare 6,995 538 4,786 12,319 Independent Pharmacies 27,673 2,726 3,680 34,079 Registered Investment Advisors 9,660 — — 9,660 Veterinary Industry 15,513 1,121 4,268 20,902 Other Industries — 161 — 161 Construction & Development 9,526 — — 9,526 Agriculture 3,910 — — 3,910 Death Care Management 92 — — 92 Healthcare 2,957 — — 2,957 Independent Pharmacies 215 — — 215 Veterinary Industry 2,207 — — 2,207 Other Industries 145 — — 145 Owner Occupied Commercial Real Estate 87,883 5,219 18,518 111,620 Agriculture 259 — — 259 Death Care Management 16,519 639 1,721 18,879 Family Entertainment Centers 872 — — 872 Healthcare 22,778 938 2,457 26,173 Independent Pharmacies 4,709 41 — 4,750 Registered Investment Advisors 2,161 — — 2,161 Veterinary Industry 40,281 3,601 14,052 57,934 Other Industries 304 — 288 592 Commercial Land 1,248 — — 1,248 Agriculture 1,248 — — 1,248 Total $ 162,434 $ 9,765 $ 31,252 $ 203,451 1 Total loans include $21.8 million of U.S. government guaranteed loans as of June 30, 2015, segregated by risk grade as follows: Risk Grades 1 – 4 = $0, Risk Grade 5 = $378 thousand, Risk Grades 6 – 8 = $21.5 million. As of December 31, 2014 total loans include $21.3 million of U.S. government guaranteed loans, segregated by risk grade as follows: Risk Grades 1 – 4 = $0, Risk Grade 5 = $1.1 million, Risk Grades 6 – 8 = $20.2 million. Past Due Loans Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Also, loans less than 30 days past due and accruing are included within current loans shown below. The following tables show an age analysis of past due loans as of the dates presented. Less Than 30 30-89 Days 30-89 Days Greater Total Not Current Total Loans Loans 90 June 30, 2015 Commercial & Industrial $ 779 $ 1,029 $ 281 $ 5,372 $ 7,461 $ 82,752 $ 90,213 $ — Death Care Management — — — — — 4,274 4,274 — Family Entertainment Centers — — — — — 488 488 — Healthcare — 346 135 1,626 2,107 10,357 12,464 — Independent Pharmacies — 631 140 1,541 2,312 35,067 37,379 — Registered Investment Advisors — — — — — 14,312 14,312 — Veterinary Industry 779 52 6 2,205 3,042 18,028 21,070 — Wine & Craft Beverage — — — — — 75 75 — Other Industries — — — — — 151 151 — Construction & Development — — — — — 18,282 18,282 — Agriculture — — — — — 7,092 7,092 — Death Care Management — — — — — 484 484 — Family Entertainment Centers — — — — — 122 122 — Healthcare — — — — — 7,061 7,061 — Independent Pharmacies — — — — — 483 483 — Veterinary Industry — — — — — 2,698 2,698 — Wine & Craft Beverage — — — — — 159 159 — Other Industries — — — — — 183 183 — Owner Occupied Commercial Real Estate 1,541 4,201 1,355 10,333 17,430 107,204 124,634 — Agriculture — — — — — 3,127 3,127 — Death Care Management — — — 1,677 1,677 17,833 19,510 — Family Entertainment Centers — — — — — 1,294 1,294 — Healthcare 181 — 24 2,224 2,429 27,914 30,343 — Independent Pharmacies — — — — — 5,179 5,179 — Registered Investment Advisors — — — — — 2,463 2,463 — Self Storage — — — — — 167 167 Veterinary Industry 1,360 4,201 1,331 6,432 13,324 47,901 61,225 — Wine & Craft Beverage — — — — — 1,016 1,016 — Other Industries — — — — — 310 310 — Commercial Land — — — — — 4,264 4,264 — Agriculture — — — — — 4,264 4,264 — Total 1 $ 2,320 $ 5,230 $ 1,636 $ 15,705 $ 24,891 $ 212,502 $ 237,393 $ — Less Than 30 30-89 Days 30-89 Days Greater Total Not Current Total Loans Loans 90 December 31, 2014 Commercial & Industrial $ 1,025 $ 1,433 $ 236 $ 5,872 $ 8,566 $ 72,491 $ 81,057 $ — Death Care Management — — — — — 3,603 3,603 — Family Entertainment Centers — — — — — 333 333 — Healthcare — 1,059 232 2,420 3,711 8,608 12,319 — Independent Pharmacies — 98 — 1,224 1,322 32,757 34,079 — Registered Investment Advisors — — — — — 9,660 9,660 — Veterinary Industry 1,025 276 4 2,228 3,533 17,369 20,902 — Other Industries — — — — — 161 161 — Construction & Development — — — — — 9,526 9,526 — Agriculture — — — — — 3,910 3,910 — Death Care Management — — — — — 92 92 — Healthcare — — — — — 2,957 2,957 — Independent Pharmacies — — — — — 215 215 — Veterinary Industry — — — — — 2,207 2,207 — Other Industries — — — — — 145 145 — Owner Occupied Commercial Real Estate 2,464 5,246 2,181 6,914 16,805 94,815 111,620 — Agriculture — — — — — 259 259 — Death Care Management — — — 1,721 1,721 17,158 18,879 — Family Entertainment Centers — — — — — 872 872 — Healthcare — 145 230 2,082 2,457 23,716 26,173 — Independent Pharmacies — — — — — 4,750 4,750 — Registered Investment Advisors — — — — — 2,161 2,161 — Veterinary Industry 2,464 5,101 1,951 2,836 12,352 45,582 57,934 — Other Industries — — — 275 275 317 592 — Commercial Land — — — — — 1,248 1,248 — Agriculture — — — — — 1,248 1,248 — Total 1 $ 3,489 $ 6,679 $ 2,417 $ 12,786 $ 25,371 $ 178,080 $ 203,451 $ — 1 Total loans include $21.8 million of U.S. government guaranteed loans as of June 30, 2015, of which $14.1 million is greater than 90 days past due, $3.5 million is 30-89 days past due and $4.3 million is included in current loans as presented above. As of December 31, 2014, total loans include $21.3 million of U.S. government guaranteed loans, of which $11.7 million is greater than 90 days past due, $3.5 million is 30-89 days past due and $6.1 million is included in current loans as presented above. Nonaccrual Loans Loans that become 90 days delinquent, or in cases where there is evidence that the borrower’s ability to make the required payments is impaired, are placed in nonaccrual status and interest accrual is discontinued. If interest on nonaccrual loans had been accrued in accordance with the original terms, interest income would have increased by approximately $102 thousand and $75 thousand for the three months ended June 30, 2015 and 2014, respectively and for the six months ended June 30, 2015 and 2014 would have increased approximately $261 thousand and $127 thousand, respectively. All nonaccrual loans are included in the held for investment portfolio. Nonaccrual loans as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 Loan Guaranteed Unguaranteed Commercial & Industrial $ 6,432 $ 5,931 $ 501 Healthcare 1,761 1,586 175 Independent Pharmacies 1,681 1,456 225 Veterinary Industry 2,990 2,889 101 Owner Occupied Commercial Real Estate 13,229 10,641 2,588 Death Care Management 1,677 1,469 208 Healthcare 2,429 1,918 511 Veterinary Industry 9,123 7,254 1,869 Total $ 19,661 $ 16,572 $ 3,089 December 31, 2014 Loan Guaranteed Unguaranteed Commercial & Industrial $ 7,133 $ 6,620 $ 513 Healthcare 2,652 2,368 284 Independent Pharmacies 1,224 1,139 85 Veterinary Industry 3,257 3,113 144 Owner Occupied Commercial Real Estate 11,559 8,935 2,624 Death Care Management 1,721 1,505 216 Healthcare 2,312 1,919 393 Veterinary Industry 7,251 5,236 2,015 Other Industries 275 275 — Total $ 18,692 $ 15,555 $ 3,137 Allowance for Loan Loss Methodology The methodology and the estimation process for calculating the Allowance for Loan Losses (“ALL”) is described below: Estimated credit losses should meet the criteria for accrual of a loss contingency, i.e., a provision to the allowance for loan losses (“ALL”), set forth in GAAP. The Company’s methodology for determining the ALL is based on the requirements of GAAP, the Interagency Policy Statement on the ALL and other regulatory and accounting pronouncements. The ALL is determined by the sum of three separate components: (i) the impaired loan component, which addresses specific reserves for impaired loans; (ii) the general reserve component, which addresses reserves for pools of homogeneous loans; and (iii) an unallocated reserve component (if any) based on management’s judgment and experience. The loan pools and impaired loans are mutually exclusive; any loan that is impaired is excluded from its homogenous pool for purposes of that pool’s reserve calculation, regardless of the level of impairment. The ALL policy for pooled loans is governed in accordance with banking regulatory guidance for homogenous pools of non-impaired loans that have similar risk characteristics. The Company follows a consistent and structured approach for assessing the need for reserves within each individual loan pool. Loans are considered impaired when, based on current information and events, it is probable that the creditor will be unable to collect all interest and principal payments due according to the originally contracted, or reasonably modified, terms of the loan agreement. The Company has determined that loans that meet the criteria defined below must be reviewed quarterly to determine if they are impaired. • All commercial loans classified substandard or worse. • Any other delinquent loan that is in a nonaccrual status, or any loan that is delinquent more than 89 days and still accruing interest. • Any loan which has been modified such that it meets the definition of a Troubled Debt Restructuring (TDR). Any loan determined to be impaired is subjected to an impairment analysis, which is a calculation of the probable loss on the loan. This portion is the loan’s “impairment,” and is established as a specific reserve against the loan, or charged against the ALL. Individual specific reserve amounts imply probability of loss and may not be carried in the reserve indefinitely. When the amount of the actual loss becomes reasonably quantifiable, the amount of the loss is charged off against the ALL, whether or not all liquidation and recovery efforts have been completed. If the total amount of the individual specific reserve that will eventually be charged off cannot yet be sufficiently quantified, but some portion of the impairment can be viewed as a confirmed loss then the confirmed loss portion should be charged off against the ALL and the individual specific reserve reduced by a corresponding amount. For impaired loans, the reserve amount is calculated on a loan-specific basis. The Company utilizes two methods of analyzing impaired loans not guaranteed by the SBA: • The Fair Market Value of Collateral method utilizes the value at which the collateral could be sold considering the appraised value, appraisal discount rate, prior liens and selling costs. The amount of the reserve is the deficit of the estimated collateral value compared to the loan balance. • The Present Value of Future Cash Flows method takes into account the amount and timing of cash flows and the effective interest rate used to discount the cash flows. The following tables detail activity in the allowance for loan losses by portfolio segment allowance for the periods presented: Three months ended: Construction & Owner Commercial Commercial Total June 30, 2015 Beginning Balance $ 755 $ 2,062 $ 2,063 $ 354 $ 5,234 Charge offs — (42 ) (186 ) — (228 ) Recoveries — 87 40 — 127 Provision 89 239 (264 ) (14 ) 50 Ending Balance $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 June 30, 2014 Beginning Balance $ 480 $ 1,921 $ 812 $ — $ 3,213 Charge offs — (119 ) (8 ) — (127 ) Recoveries — 5 2 — 7 Provision (180 ) 124 506 25 475 Ending Balance $ 300 $ 1,931 $ 1,312 $ 25 $ 3,568 Six months ended: Construction & Owner Commercial Commercial Total June 30, 2015 Beginning Balance $ 586 $ 2,291 $ 1,369 $ 161 $ 4,407 Charge offs — (121 ) (358 ) — (479 ) Recoveries — 88 40 — 128 Provision 258 88 602 179 1,127 Ending Balance $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 June 30, 2014 Beginning Balance $ 350 $ 1,511 $ 862 $ — $ 2,723 Charge offs — (119 ) (8 ) — (127 ) Recoveries — 67 6 — 73 Provision (50 ) 472 452 25 899 Ending Balance $ 300 $ 1,931 $ 1,312 $ 25 $ 3,568 The following tables detail the recorded allowance for loan losses and the investment in loans related to each portfolio segment, disaggregated on the basis of impairment evaluation methodology: June 30, 2015 Construction & Owner Commercial Commercial Total Allowance for Loan Losses: Loans individually evaluated for impairment $ — $ 1,092 $ 677 $ — $ 1,769 Loans collectively evaluated for impairment 844 1,254 976 340 3,414 Total allowance for loan losses $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 Loans receivable 1 Loans individually evaluated for impairment $ — $ 16,694 $ 9,023 $ — $ 25,717 Loans collectively evaluated for impairment 18,282 107,940 81,190 4,264 211,676 Total loans receivable $ 18,282 $ 124,634 $ 90,213 $ 4,264 $ 237,393 December 31, 2014 Construction Owner Commercial Commercial Total Allowance for Loan Losses: Loans individually evaluated for impairment $ — $ 1,051 $ 676 $ — $ 1,727 Loans collectively evaluated for impairment 586 1,240 693 161 2,680 Total allowance for loan losses $ 586 $ 2,291 $ 1,369 $ 161 $ 4,407 Loans Receivable 1 Loans individually evaluated for impairment $ — $ 16,551 $ 10,226 $ — $ 26,777 Loans collectively evaluated for impairment 9,526 95,069 70,831 1,248 176,674 Total loans receivable $ 9,526 $ 111,620 $ 81,057 $ 1,248 $ 203,451 1 Loans receivable includes $21.8 million of U.S. government guaranteed loans as of June 30, 2015, of which $20.3 million are included in loans individually evaluated for impairment and $1.6 million are included in loans collectively evaluated for impairment, as presented above. As of December 31, 2014, loans receivable includes $21.3 million of U.S. government guaranteed loans, of which $19.5 million are included in loans individually evaluated for impairment and $2.0 million are included in loans collectively evaluated for impairment, as presented above. Loans individually evaluated for impairment as of the dates presented are summarized in the following tables. June 30, 2015 Unpaid Guaranteed Unguaranteed Commercial & Industrial $ 9,023 $ 7,434 $ 1,589 Healthcare 3,311 2,746 565 Independent Pharmacies 2,492 1,799 693 Veterinary Industry 3,220 2,889 331 Owner Occupied Commercial Real Estate 16,694 12,837 3,857 Death Care Management 1,677 1,469 208 Healthcare 2,429 1,919 510 Veterinary Industry 12,588 9,449 3,139 Total $ 25,717 $ 20,271 $ 5,446 December 31, 2014 Unpaid Guaranteed Unguaranteed Commercial & Industrial $ 10,226 $ 8,341 $ 1,885 Healthcare 4,217 3,540 677 Independent Pharmacies 2,203 1,492 711 Veterinary Industry 3,806 3,309 497 Owner Occupied Commercial Real Estate 16,551 11,155 5,396 Death Care Management 1,721 1,505 216 Healthcare 2,312 1,919 393 Veterinary Industry 12,243 7,456 4,787 Other Industries 275 275 — Total $ 26,777 $ 19,496 $ 7,281 The following table presents evaluated balances of loans classified as impaired at the dates presented that carried an associated reserve as compared to those with no reserve. The recorded investment includes accrued interest, net deferred loan fees or costs and any non-accreted loan discount. Three months ended June 30, 2015: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,020 $ 1,008 $ — $ 2,852 $ 7 Commercial & Industrial 331 327 — 1,622 5 Healthcare 97 95 — 352 1 Independent Pharmacies 191 190 — 1,150 2 Veterinary Industry 43 42 — 120 2 Owner Occupied Commercial Real Estate 689 681 — 1,230 2 Healthcare 166 164 — 143 — Veterinary Industry 523 517 — 1,087 2 Loans with an allowance 24,697 24,649 1,769 24,533 87 Commercial & Industrial 8,693 8,686 677 8,313 38 Healthcare 3,213 3,215 298 2,968 24 Independent Pharmacies 2,303 2,299 345 2,601 11 Veterinary Industry 3,177 3,172 34 2,744 3 Owner Occupied Commercial Real Estate 16,004 15,963 1,092 16,220 49 Death Care Management 1,677 1,675 11 1,418 — Healthcare 2,263 2,260 78 2,359 — Veterinary Industry 12,064 12,028 1,003 12,443 49 Total $ 25,717 $ 25,657 $ 1,769 $ 27,385 $ 94 Three months ended June 30, 2014: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,051 $ 1,037 $ — $ 6,220 $ 8 Commercial & Industrial 211 208 — 3,690 3 Healthcare 91 89 — 705 1 Veterinary Industry 120 119 — 2,985 2 Owner Occupied Commercial Real Estate 840 829 — 2,530 5 Veterinary Industry 840 829 — 2,530 5 Loans with an allowance 17,397 17,560 436 11,774 101 Commercial & Industrial 6,374 6,462 245 3,444 24 Healthcare 2,148 2,183 8 2,831 — Independent Pharmacies 372 371 137 — 17 Veterinary Industry 3,854 3,908 100 613 7 Construction & Development 1,996 1,997 12 2,952 32 Veterinary Industry 1,996 1,997 12 2,952 32 Owner Occupied Commercial Real Estate 9,027 9,101 179 5,378 45 Healthcare 1,127 1,152 2 1,054 — Veterinary Industry 7,900 7,949 177 4,324 45 Total $ 18,448 $ 18,597 $ 436 $ 17,994 $ 109 Six months ended June 30, 2015: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,020 $ 1,008 $ — $ 2,428 $ 12 Commercial & Industrial 331 327 — 1,000 8 Healthcare 97 95 — 224 1 Independent Pharmacies 191 190 — 618 5 Veterinary Industry 43 42 — 158 2 Owner Occupied Commercial Real Estate 689 681 — 1,428 4 Healthcare 166 164 — 146 — Veterinary Industry 523 517 — 1,282 4 Loans with an allowance 24,697 24,649 1,769 23,686 159 Commercial & Industrial 8,693 8,686 677 8,652 73 Healthcare 3,213 3,215 298 3,310 47 Independent Pharmacies 2,303 2,299 345 2,166 20 Veterinary Industry 3,177 3,172 34 3,176 6 Owner Occupied Commercial Real Estate 16,004 15,963 1,092 15,034 86 Death Care Management 1,677 1,675 11 1,475 — Healthcare 2,263 2,260 78 2,173 — Veterinary Industry 12,064 12,028 1,003 11,386 86 Total $ 25,717 $ 25,657 $ 1,769 $ 26,114 $ 171 December 31, 2014 Unpaid Recorded Total Average Interest Loans with no allowance $ 1,213 $ 1,197 $ — $ 1,998 $ 113 Commercial & Industrial 239 237 — 363 64 Healthcare 3 3 — 88 2 Independent Pharmacies 194 194 — 86 57 Veterinary Industry 42 40 — 189 5 Owner Occupied Commercial Real Estate 974 960 — 1,635 49 Death Care Management — — — 66 — Healthcare 41 41 — 147 — Veterinary Industry 933 919 — 1,422 49 Loans with an allowance 25,564 23,805 1,727 20,076 361 Commercial & Industrial 9,987 9,747 676 6,583 97 Healthcare 4,214 4,202 361 3,333 38 Independent Pharmacies 2,009 2,005 206 621 17 Veterinary Industry 3,764 3,540 109 2,629 42 Owner Occupied Commercial Real Estate 15,577 14,058 1,051 13,493 264 Death Care Management 1,721 1,720 20 414 — Healthcare 2,271 2,268 82 1,967 — Veterinary Industry 11,310 9,796 947 11,036 264 Other Industries 275 274 2 76 — Total $ 26,777 $ 25,002 $ 1,727 $ 22,074 $ 474 Six months ended June 30, 2014: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,051 $ 1,037 $ — $ 3,680 $ 26 Commercial & Industrial 211 208 — 1,919 11 Healthcare 91 89 — 373 1 Veterinary Industry 120 119 — 1,546 10 Owner Occupied Commercial Real Estate 840 829 — 1,761 15 Veterinary Industry 840 829 — 1,761 15 Loans with an allowance 17,397 17,560 436 13,920 183 Commercial & Industrial 6,374 6,462 245 4,403 40 Healthcare 2,148 2,183 8 2,210 — Independent Pharmacies 372 371 137 — 17 Veterinary Industry 3,854 3,908 100 2,193 23 Construction & Development 1,996 1,997 12 1,476 67 Veterinary Industry 1,996 1,997 12 1,476 67 Owner Occupied Commercial Real Estate 9,027 9,101 179 8,041 77 Healthcare 1,127 1,152 2 1,054 — Veterinary Industry 7,900 7,949 177 6,987 77 Total $ 18,448 $ 18,597 $ 436 $ 17,600 $ 209 There were no new TDRs made during the three months ended June 3, 2015. The following table represent the types of TDRs that were made during the periods presented: Three months ended June 30, 2014: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 2 $ 372 $ — $ 372 Independent Pharmacies 2 372 — 372 Extend Amortization 2 372 — 372 Owner Occupied Commercial Real Estate 1 8 — 8 Veterinary Industry 1 8 — 8 Interest Only 1 8 — 8 Total Loans 3 $ 380 $ — $ 380 Six months ended June 30, 2015: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 3 $ 133 $ — $ 133 Healthcare 3 133 — 133 Interest Only 3 133 — 133 Owner Occupied Commercial Real Estate 1 24 — 24 Healthcare 1 24 — 24 Interest Only 1 24 — 24 Total Loans 4 $ 157 $ — $ 157 Six months ended June 30, 2014: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 5 $ 588 $ — $ 588 Independent Pharmacies 2 372 — 372 Extend Amortization 2 372 — 372 Veterinary Industry 3 216 — 216 Payment Deferral 3 216 — 216 Owner Occupied Commercial Real Estate 1 8 — 8 Veterinary Industry 1 8 — 8 Interest Only 1 8 — 8 Total Loans 6 $ 596 $ — $ 596 The following tables represent the recorded investment in TDR loans entered into during the six months ended: June 30, 2015 Number of Pre-modification Investment Post-modification Commercial & Industrial 3 $ 229 $ 133 Healthcare 3 229 133 Interest Only 3 229 133 Owner Occupied Commercial Real Estate 1 41 24 Healthcare 1 41 24 Interest Only 1 41 24 Total Loans 4 $ 270 $ 157 June 30, 2014 Number of Pre-modification Post-modification Commercial & Industrial 5 $ 598 $ 588 Independent Pharmacies 2 379 372 Extend Amortization 2 379 372 Veterinary Industry 3 219 216 Payment Deferral 3 219 216 Owner Occupied Commercial Real Estate 1 8 8 Veterinary Industry 1 8 8 Payment Deferral 1 8 8 Total Loans 6 $ 606 $ 596 Concessions made to improve a loan’s performance have varying degrees of success. The following tables present loans that were modified as TDRs within the twelve months ending June 30, 2015 and 2014, for which there was a payment default during the subsequent months: June 30, 2015 Post-modification Number of Recorded Default (Charge-Off) Owner Occupied Commercial Real Estate 2 $ 1,675 Death Care Management 1 1,675 Payment Deferral 1 1,675 Veterinary Industry 1 — Interest Only 1 — Default (Nonaccrual) Commercial & Industrial 4 272 Healthcare 3 133 Interest Only 3 133 Independent Pharmacies 1 139 Interest Only 1 139 Owner Occupied Commercial Real Estate 1 24 Healthcare 1 24 Interest Only 1 24 No Defaults (paying as restructured) Commercial & Industrial 1 165 Independent Pharmacies 1 165 Extend Amortization 1 165 Total Loans 8 2,136 Total TDRs paying as restructured 1 165 Total TDRs 8 $ 2,136 June 30, 2014 Post-modification Number of Recorded No Defaults (p |
Servicing Assets
Servicing Assets | 6 Months Ended |
Jun. 30, 2015 | |
Transfers and Servicing [Abstract] | |
Servicing Assets | Note 6. Servicing Assets Loans serviced for others are not included in the accompanying balance sheet. The unpaid principal balances of loans serviced for others were $1.5 billion and $1.3 billion at June 30, 2015 and December 31, 2014, respectively. The following summarizes the activity pertaining to servicing rights: Three Months Ended Six Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 38,457 $ 30,518 $ 34,999 $ 29,053 Additions, net 3,373 2,666 6,709 4,751 Changes in fair value (1,847 ) (3 ) (1,725 ) (623 ) Balance at end of period $ 39,983 $ 33,181 $ 39,983 $ 33,181 The fair value of servicing rights was determined using discount rates ranging from 7.05% to 12.40% on June 30, 2015, and 7.46% to 13.27% on June 30, 2014. The fair value of servicing rights was determined using prepayment speeds ranging from 4.19% to 9.57% on June 30, 2015 and 4.53% to 8.79% on June 30, 2014, depending on the stratification of the specific right. Changes to fair value are reported in net gains on sales of loans. The fair value of servicing rights is highly sensitive to changes in underlying assumptions. Changes in prepayment speed assumptions have the most significant impact on the fair value of servicing rights. Generally, as interest rates rise on variable rate loans, loan prepayments increase due to an increase in refinance activity, which results in a decrease in the fair value of servicing assets. Measurement of fair value is limited to the conditions existing and the assumptions used as of a particular point in time, and those assumptions may not be appropriate if they are applied at a different time. |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 7. Borrowings Total outstanding short and long-term borrowings consisted of the following: June 30, December 31, Short term borrowings On September 18, 2014, the Company entered into a line of credit of $6.1 million with an unaffiliated commercial bank, secured by 1,900,000 shares of common stock of nCino, Inc., a former subsidiary of the Company. At December 31, 2014 there was $6.1 million advanced on the line of credit. Interest accrues at 30 day LIBOR (0.16% at December 31, 2014) plus 3.50% for a term of 12 months. Payments are interest only with all principal and accrued interest due on September 18, 2015. This loan was repaid in full on February 23, 2015. $ — $ 6,100 Total short term borrowings $ — $ 6,100 Long term borrowings In April 2011, the Company elected to participate in the U.S. Treasury’s Small Business Lending Fund program (“SBLF”) whereby the U.S. Treasury agreed to purchase $6.8 million in senior securities. During the initial interest period the applicable interest rate was set at 1.5%. For all remaining interest periods, which commenced on January 1, 2012, the interest rate is determined based on a formula which encompasses the percentage change in qualified lending as well as a non-qualifying portion percentage. This rate can range from 1.5% to 10.8%. At June 30, 2015 the interest rate was 1.50%. Interest is payable quarterly in arrears. With the approval of the Company’s regulator, we may exit the Small Business Lending Fund at any time simply by repaying the funding provided along with any accrued but unpaid interest. If the institution wishes to repay its SBLF funding in partial payments, each partial payment must be at least 25% of the original funding amount. All senior securities will mature on September 13, 2021 at which time all principal and accrued interest will be due. $ 6,800 $ 6,800 On May 12, 2014, Independence Aviation financed the purchase of an airplane by entering into a promissory note with an unaffiliated commercial bank in the amount of $6 million which carries a fixed rate of 4.97% for a term of 59 months. Monthly payments are set at $48 thousand with all principal and accrued interest due on May 12, 2019. 5,702 5,842 On September 11, 2014, the Company financed the construction of an additional building located on the Company’s Tiburon Drive main campus for a $24 million construction line of credit with an unaffiliated commercial bank, secured by both properties at its Tiburon Drive main facility location. Payments are interest only through September 11, 2016 at a fixed rate of 3.95% for a term of 84 months. Monthly principal and interest payments beginning in October 2016 will be $146 thousand with all principal and accrued interest due on September 11, 2021. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. The construction line is fully disbursed and there was no remaining available credit on this construction line at June 30, 2015. 24,000 16,914 On September 18, 2014, the Company entered into a note payable line of credit of $8.1 million with an unaffiliated commercial bank, with the first advance of $5 million on December 14, 2014. The note is unsecured and accrues interest at LIBOR plus 3.50% for a term of 36 months. Payments are interest only with all principal and accrued interest due on September 18, 2017. There is $3.1 million of remaining available credit on this note at June 30, 2015. 5,000 5,000 On August 1, 2014, the Company entered into a note payable line of credit of $15 million with an unaffiliated commercial bank, secured by 100% of Live Oak Banking Company’s outstanding common stock. Interest accrues at LIBOR plus 4.00% for a term of 36 months. Payments are interest only with all principal and accrued interest due on August 1, 2017. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. There is $7.8 million of remaining available credit on this line of credit at June 30, 2015. 7,210 7,210 On March 10, 2015, Independence Aviation refinanced an existing loan with Live Oak Banking Company and entered into a new loan with an unaffiliated commercial bank in the amount of $1.2 million which carries a fixed rate of 4.96% for a term of 51 months. Monthly payments are set at $9 thousand with all principal and accrued interest due on June 10, 2019. 1,182 — On February 23, 2015 the Company transferred two related party loans to an unrelated third party financial institution in exchange for $4.7 million. The exchange price equated to the unpaid principal balance plus accrued but uncollected interest at the time of transfer. The terms of the transfer agreement with the third party institution identified the transaction as a secured borrowing for accounting purposes. Interest accrues at prime plus 1% with monthly principal and interest payments over a term of 60 months. The maturity date is October 5, 2019. The pledged collateral is classified in other assets with a fair value of $4.6 million at June 30, 2015. Underlying loans carry a risk grade of 3 and are current with no delinquencies. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. 4,575 — With the acquisition of GLS on September 1, 2013, the Company assumed the obligation to pay a former GLS partner $250 thousand at $10 thousand a month over a 24 month period. 21 83 Total long term borrowings $ 54,490 $ 41,849 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 8. Fair Value of Financial Instruments Fair Value Hierarchy There are three levels of inputs in the fair value hierarchy that may be used to measure fair value. Financial instruments are considered Level 1 Level 2 Level 3 Financial Instruments Measured at Fair Value The following sections provide a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the fair value hierarchy: Securities The Company invested $1.9 million in the 504 Fund mutual fund on March 31, 2015 and accordingly identified it as a Level 1 investment on that date. During the second quarter of 2015, the Company transferred this $1.9 million investment from Level 1 to Level 2. Impaired Loans Servicing Assets: Foreclosed Assets: Recurring Fair Value The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 Investment securities available-for-sale US government agencies $ 35,424 $ — $ 35,424 $ — Residential mortgage-backed securities 13,391 — 13,391 — Mutual fund 1,904 — 1,904 — Servicing assets 1 39,983 — — 39,983 Total assets at fair value $ 90,702 $ — $ 50,719 $ 39,983 December 31, 2014 Total Level 1 Level 2 Level 3 Investment securities available-for-sale US government agencies $ 35,309 $ — $ 35,309 $ — Residential mortgage-backed securities 14,009 — 14,009 — Servicing assets 1 34,999 — — 34,999 Total assets at fair value $ 84,317 $ — $ 49,318 $ 34,999 1 See Note 6 for a rollforward of recurring Level 3 fair values for servicing assets. Non-recurring Fair Value The tables below present the recorded amount of assets and liabilities measured at fair value on a non-recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 Impaired loans $ 22,991 $ — $ — $ 22,991 Foreclosed assets 34 — — 34 Total assets at fair value $ 23,025 $ — $ — $ 23,025 December 31, 2014 Total Level 1 Level 2 Level 3 Impaired loans $ 24,016 $ — $ — $ 24,016 Foreclosed assets 371 — — 371 Total assets at fair value $ 24,387 $ — $ — $ 24,387 Level 3 Analysis For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of June 30, 2015 and December 31, 2014 the significant unobservable inputs used in the fair value measurements were as follows: June 30, 2015 Level 3 Assets with Significant Fair Value Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 22,991 Discounted appraisals Appraisal adjustments (1) 10% to 20% Discounted expected cash flows Interest rate & repayment term Weighted Average discount rate 4.86% Foreclosed Assets $ 34 Discounted appraisals Appraisal adjustments (1) 10% to 20% December 31, 2014 Level 3 Assets with Significant Fair Value Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 24,016 Discounted appraisals Appraisal adjustments (1) 10% to 20% Discounted expected cash flows Interest rate & repayment term Weighted Foreclosed Assets $ 371 Discounted appraisals Appraisal adjustments (1) 10% to 20% (1) Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments. Estimated Fair Value of Other Financial Instruments GAAP also requires disclosure of fair value information about financial instruments carried at book value on the balance sheet. 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. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments not measured at fair value on the balance sheets: Cash and due from banks Certificates of Deposit with Other Banks Loans held for sale: Loans Accrued Interest: Deposits Short and long term borrowings: The carrying amounts and estimated fair values of the Company’s financial instruments are as follows: June 30, 2015 Carrying Quoted Price Significant Significant (Level 3) Ending Financial assets Cash and due from banks $ 131,487 $ 131,487 $ — $ — $ 131,487 Certificates of deposit with other banks 10,000 9,931 — — 9,931 Investment securities, available for sale 50,719 — 50,719 — 50,719 Loans held for sale 356,481 — — 367,504 367,504 Loans, net of allowance for loan losses 232,429 — — 226,429 226,429 Servicing assets 39,983 — — 39,983 39,983 Accrued interest receivable 4,228 4,228 — — 4,228 Financial liabilities Deposits 727,346 — 724,160 — 724,160 Accrued interest payable 201 201 — — 201 Long term borrowings 54,490 — — 57,372 57,372 December 31, 2014 Carrying Quoted Price Significant Significant Ending Financial assets Cash and due from banks $ 29,902 $ 29,902 $ — $ — $ 29,902 Certificates of deposit with other banks 10,000 9,861 — — 9,861 Investment securities, available for sale 49,318 — 49,318 — 49,318 Loans held for sale 295,180 — — 304,504 304,504 Loans, net of allowance for loan losses 199,529 — — 194,007 194,007 Servicing assets 34,999 — — 34,999 34,999 Accrued interest receivable 3,059 3,059 — — 3,059 Financial liabilities Deposits 522,080 — 522,058 — 522,058 Accrued interest payable 190 190 — — 190 Short term borrowings 6,100 — — 6,100 6,100 Long term borrowings 41,849 — — 44,738 44,738 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9. Commitments and Contingencies Litigation In the normal course of business the Company is involved in various legal proceedings. Management believes that the outcome of such proceedings will not materially affect the financial position, results of operations or cash flows of the Company. Financial Instruments with Off-balance-sheet Risk The Company is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, credit risk in excess of the amount recognized in the balance sheet. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as for on-balance-sheet instruments. A summary of the Company’s commitments is as follows: June 30, December 31, Commitments to extend credit $ 696,357 $ 537,951 Plexus Capital - Fund II Investment Commitment 100 100 Plexus Capital - Fund III Investment Commitment 300 350 Total unfunded off-balance sheet credit risk $ 696,757 $ 538,401 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the party. Collateral held varies, but may include accounts receivable, inventory, property and equipment, residential real estate and income-producing commercial properties. In 2012, the Company began issuing commitment letters after approval of the loan by the Credit Department. Commitment letters generally expire ninety days after issuance. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral held varies as specified above and is required in instances which the Company deems necessary. There were no standby letters of credit for the periods presented. Concentrations of Credit Risk Although the Company is not subject to any geographic concentrations, a substantial amount of the Company’s loans and commitments to extend credit have been granted to customers in the independent pharmacy and veterinary verticals. The concentrations of credit by type of loan are set forth in Note 5. The distribution of commitments to extend credit approximates the distribution of loans outstanding. The Company does not have a significant number of credits to any single borrower or group of related borrowers whereby their retained exposure exceeds $2.0 million. The Company from time-to-time may have cash and cash equivalents on deposit with financial institutions that exceed federally-insured limits. |
Stock Plans
Stock Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Plans | Note 10. Stock Plans On March 20, 2015, the Company adopted the 2015 Omnibus Stock Incentive Plan which replaced the previously existing Amended Incentive Stock Option Plan and Nonstatutory Stock Option Plan. The 2015 Omnibus Plan authorized awards covering a maximum of 4,300,000 common voting shares and has an expiration date of March 20, 2025. Options or restricted shares granted under this plan expire no more than 10 years from date of grant. Exercise prices under the plan are set by the Board of Directors at the date of grant, but shall not be less than 100% of fair market value of the related stock at the date of the grant. Options or restricted shares vest over a minimum of three years from the date of the grant. Stock Options Compensation cost relating to share-based payment transactions are recognized in the financial statements with measurement based upon the fair value of the equity or liability instruments issued. For the three months ended June 30, 2015 and 2014, the Company recognized $177 thousand and $42 thousand in compensation expense for stock options, respectively. For the six months ended June 30, 2015 and 2014, the Company recognized $295 thousand and $79 thousand in compensation expense for stock options, respectively. Stock option activity under the plan during the six month periods ended June 30, 2015 and 2014 is summarized below. Shares Weighted Weighted Aggregate Outstanding at December 31, 2014 1,737,570 $ 5.51 Exercised 34,930 4.40 Forfeited 66,319 4.88 Granted 636,505 11.70 Outstanding at June 30, 2015 2,272,826 $ 7.28 9.03 years $ 15,277,131 Exercisable at June 30, 2015 149,258 $ 3.76 8.20 years $ 1,528,763 Shares Weighted Weighted Aggregate Outstanding at December 31, 2013 225,000 $ 1.01 Exercised 174,990 0.87 Forfeited 21,480 4.40 Granted 1,550,000 4.40 Outstanding at June 30, 2014 1,578,530 $ 4.31 9.66 years $ 1,442,290 Exercisable at June 30, 2014 16,680 $ 1.50 6.91 years $ 483,630 The following is a summary of non-vested stock option activity for the Company for the six months ended June 30, 2015. Shares Weighted Non-vested at December 31, 2014 1,704,230 $ 1.18 Granted 636,505 4.59 Vested 115,918 0.53 Exercised 34,930 0.58 Forfeited 66,319 0.83 Non-vested at June 30, 2015 2,123,568 $ 2.26 Restricted Stock Restricted stock activity under the plan during the first six months of 2015 is summarized below. Shares Weighted Outstanding at December 31, 2014 — $ — Granted 9,243 10.63 Vested — — Excercised — — Forfeited 407 10.63 Non-vested at June 30, 2015 8,836 $ 10.63 For the three months ended June 30, 2015 and 2014, the Company recognized $8 thousand and $19 thousand in compensation expense for restricted stock, respectively. For the six months ended June 30, 2015 and 2014, the Company recognized $16 thousand and $162 thousand in compensation expense for restricted stock, respectively. At June 30, 2015, unrecognized compensation costs relating to stock options amounted to $4.4 million which will be expensed over the next 3.96 years. At June 30, 2015, unrecognized compensation costs relating to restricted stock amounted to $78 thousand which will be expensed over the next 1.29 years. The weighted average fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The expected volatility is based on historical volatility. The risk-free interest rates for periods within the contractual life of the awards are based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life is based on historical exercise experience. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. Weighted average assumptions used for options granted during 2015 were as follows: risk free rate of 1.65%, dividend yield of 1.75%, volatility of 43.61% and average life of 4-7 years. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 11. Subsequent Events Management has evaluated subsequent events through the date the financial statements were available to be issued and determined that the following events required disclosure: Initial Public Offering During July 2015, the Company completed an initial public offering issuing 5,500,000 shares of voting common stock, no par value, at $17.00 per share for gross proceeds of $93.5 million. Net proceeds after underwriting discounts and estimated expenses were $87.2 million. During August 2015 the Company repaid $12.2 million in long term borrowings consisting of $5.0 million bearing an interest rate of LIBOR plus 3.50% and $7.2 million bearing an interest rate of LIBOR plus 4.00%. Option Grants Effective July 22, 2015 the Company issued 810,900 and 35,000 options vesting over seven and four years, respectively. Exercise price is $17.00 per share and weighted average grant date fair value using the Black-Scholes option-pricing model is $7.64 per share. Seven year vesting is to occur at 10% per year for the first five years and then 25% per year in years six and seven. Four year vesting is to occur at 25% per year. Unrecognized compensation expense associated with these grants is $6.5 million to be recognized over the next seven years. Effective August 25, 2015, the Company issued 282,343 and 30,000 stock options vesting over seven and four years, respectively. The exercise price for these options is $19.15 per share, the closing price of the Company’s voting common stock on the date of grant. The weighted average grant date fair value of these options using the Black-Scholes option-pricing model is $8.96 per share. Seven year vesting is to occur at 10% per year for the first five years and then 25% per year in years six and seven. Four year vesting is to occur at 25% per year. Unrecognized compensation expense associated with this grant is $2.8 million to be recognized over the next seven years. Cash Dividend On August 25, 2015, the Company declared a cash dividend of 1.0 cents per share to be paid on September 11, 2015. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Schedule of Basic and Diluted Earnings Per Share | Basic and diluted earnings per share are computed based on the weighted average number of shares outstanding during each period. Diluted earnings per share reflects the potential dilution that could occur, upon the exercise of stock options or upon the vesting of restricted stock grants, any of which would result in the issuance of common stock that would then be shared in the net income of the Company. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic earnings per share: Net income available to common shareholders $ 3,935 $ 6,661 $ 12,008 $ 6,959 Weighted-average basic shares outstanding 28,636,182 21,202,728 28,628,177 20,790,765 Basic earnings per share $ 0.14 $ 0.31 $ 0.42 $ 0.33 Diluted earnings per share: Net income available to common shareholders, for diluted EPS $ 3,935 $ 6,661 $ 12,008 $ 6,959 Total weighted-average basic shares outstanding 28,636,182 21,202,728 28,628,177 20,790,765 Add effect of dilutive stock options and restricted stock grants 862,217 73,379 811,645 141,680 Total weighted-average diluted shares outstanding 29,498,399 21,276,107 29,439,822 20,932,445 Diluted earnings per share $ 0.13 $ 0.31 $ 0.41 $ 0.33 Anti-dilutive securities 916,199 1,528,520 956,199 1,528,520 |
Pro Forma [Member] | |
Schedule of Basic and Diluted Earnings Per Share | Pro forma earnings per share Because the Company was not a taxable entity prior to August 3, 2014, pro forma amounts for income tax expense and basic and diluted earnings per share have been presented below assuming the Company’s effective tax rate of 38.5% for the three and six months ended June 30, 2014. Three Months Ended Six Months Ended Pro forma net income available to common shareholders, after tax $ 4,096 $ 4,280 Pro forma basic earnings per share $ 0.19 $ 0.21 Pro forma diluted earnings per share $ 0.19 $ 0.20 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Carrying Amount and Fair Value of Securities | The carrying amount of securities and their approximate fair values are reflected in the following table: Amortized Unrealized Unrealized Fair June 30, 2015 US government agencies $ 35,229 $ 213 $ 18 $ 35,424 Residential mortgage-backed securities 13,574 22 205 13,391 Mutual fund 1,913 — 9 1,904 $ 50,716 $ 235 $ 232 $ 50,719 December 31, 2014 US government agencies $ 35,207 $ 127 $ 25 $ 35,309 Residential mortgage-backed securities 13,973 92 56 14,009 $ 49,180 $ 219 $ 81 $ 49,318 |
Summary of Gross Unrealized Losses and Fair Value | The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. Less Than 12 Months 12 Months or More Total June 30, 2015 Fair Unrealized Fair Unrealized Fair Unrealized US government agencies $ — $ — $ 1,231 $ 18 $ 1,231 $ 18 Residential mortgage-backed securities 7,451 161 3,346 44 10,797 205 Mutual fund 1,904 9 — — 1,904 9 Total $ 9,355 $ 170 $ 4,577 $ 62 $ 13,932 $ 232 Less Than 12 Months 12 Months or More Total December 31, 2014 Fair Unrealized Fair Unrealized Fair Unrealized US government agencies $ — $ — $ 1,224 $ 25 $ 1,224 $ 25 Residential mortgage-backed securities 2,234 4 5,158 52 7,392 56 Total $ 2,234 $ 4 $ 6,382 $ 77 $ 8,616 $ 81 |
Summary of Investment Securities by Maturity | The following is a summary of investment securities by maturity: June 30, 2015 Amortized Fair One to five years $ 33,979 $ 34,193 Five to ten years 2,068 2,053 After 10 years 12,756 12,569 $ 48,803 $ 48,815 |
Loans and Allowance for Loan 21
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Loans | Loans consist of the following: June 30, December 31, Commercial & Industrial $ 90,213 $ 81,057 Death Care Management 4,274 3,603 Family Entertainment Centers 488 333 Healthcare 12,464 12,319 Independent Pharmacies 37,379 34,079 Registered Investment Advisors 14,312 9,660 Veterinary Industry 21,070 20,902 Wine & Craft Beverage 75 — Other Industries 151 161 Construction & Development 18,282 9,526 Agriculture 7,092 3,910 Death Care Management 484 92 Family Entertainment Centers 122 — Healthcare 7,061 2,957 Independent Pharmacies 483 215 Veterinary Industry 2,698 2,207 Wine & Craft Beverage 159 — Other Industries 183 145 Owner Occupied Commercial Real Estate 124,634 111,620 Agriculture 3,127 259 Death Care Management 19,510 18,879 Family Entertainment Centers 1,294 872 Healthcare 30,343 26,173 Independent Pharmacies 5,179 4,750 Registered Investment Advisors 2,463 2,161 Self Storage 167 — Veterinary Industry 61,225 57,934 Wine & Craft Beverage 1,016 — Other Industries 310 592 Commercial Land 4,264 1,248 Agriculture 4,264 1,248 Total Loans 1 237,393 203,451 Net Deferred Costs 2,491 2,060 Discount on SBA 7(a) Unguaranteed 2 (2,272 ) (1,575 ) Loans, Net of Unearned $ 237,612 $ 203,936 1 Total loans include $21.8 million and $21.3 million of U.S. government guaranteed loans as of June 30, 2015 and December 31, 2014, respectively. 2 The Company measures the carrying value of the retained portion of loans sold at fair value under ASC Subtopic 825-10. The value of these retained loan balances is discounted based on the estimates derived from comparable unguaranteed loan sales. |
Summary of Risk Grades of Each Category of Loans | The following tables summarize the risk grades of each category: Risk Grades Risk Grade Risk Grades Total 1 June 30, 2015 Commercial & Industrial $ 73,965 $ 3,144 $ 13,104 $ 90,213 Death Care Management 4,170 104 — 4,274 Family Entertainment Centers 488 — — 488 Healthcare 7,355 920 4,189 12,464 Independent Pharmacies 31,554 1,441 4,384 37,379 Registered Investment Advisors 14,312 — — 14,312 Veterinary Industry 16,011 528 4,531 21,070 Wine & Craft Beverage 75 — — 75 Other Industries — 151 — 151 Construction & Development 18,282 — — 18,282 Agriculture 7,092 — — 7,092 Death Care Management 484 — — 484 Family Entertainment Centers 122 — — 122 Healthcare 7,061 — — 7,061 Independent Pharmacies 483 — — 483 Veterinary Industry 2,698 — — 2,698 Wine & Craft Beverage 159 — — 159 Other Industries 183 — — 183 Owner Occupied Commercial Real Estate 99,812 4,679 20,143 124,634 Agriculture 3,127 — — 3,127 Death Care Management 16,812 1,022 1,676 19,510 Family Entertainment Centers 1,294 — — 1,294 Healthcare 26,060 1,725 2,558 30,343 Independent Pharmacies 4,987 192 — 5,179 Registered Investment Advisors 2,463 — — 2,463 Self Storage 167 — — 167 Veterinary Industry 43,586 1,740 15,899 61,225 Wine & Craft Beverage 1,016 — — 1,016 Other Industries 300 — 10 310 Commercial Land 4,264 — — 4,264 Agriculture 4,264 — — 4,264 Total $ 196,323 $ 7,823 $ 33,247 $ 237,393 Risk Grades Risk Grade Risk Grades Total 1 December 31, 2014 Commercial & Industrial $ 63,777 $ 4,546 $ 12,734 $ 81,057 Death Care Management 3,603 — — 3,603 Family Entertainment Centers 333 — — 333 Healthcare 6,995 538 4,786 12,319 Independent Pharmacies 27,673 2,726 3,680 34,079 Registered Investment Advisors 9,660 — — 9,660 Veterinary Industry 15,513 1,121 4,268 20,902 Other Industries — 161 — 161 Construction & Development 9,526 — — 9,526 Agriculture 3,910 — — 3,910 Death Care Management 92 — — 92 Healthcare 2,957 — — 2,957 Independent Pharmacies 215 — — 215 Veterinary Industry 2,207 — — 2,207 Other Industries 145 — — 145 Owner Occupied Commercial Real Estate 87,883 5,219 18,518 111,620 Agriculture 259 — — 259 Death Care Management 16,519 639 1,721 18,879 Family Entertainment Centers 872 — — 872 Healthcare 22,778 938 2,457 26,173 Independent Pharmacies 4,709 41 — 4,750 Registered Investment Advisors 2,161 — — 2,161 Veterinary Industry 40,281 3,601 14,052 57,934 Other Industries 304 — 288 592 Commercial Land 1,248 — — 1,248 Agriculture 1,248 — — 1,248 Total $ 162,434 $ 9,765 $ 31,252 $ 203,451 1 Total loans include $21.8 million of U.S. government guaranteed loans as of June 30, 2015, segregated by risk grade as follows: Risk Grades 1 – 4 = $0, Risk Grade 5 = $378 thousand, Risk Grades 6 – 8 = $21.5 million. As of December 31, 2014 total loans include $21.3 million of U.S. government guaranteed loans, segregated by risk grade as follows: Risk Grades 1 – 4 = $0, Risk Grade 5 = $1.1 million, Risk Grades 6 – 8 = $20.2 million. |
Summary of Age Analysis of Past Due Loans | The following tables show an age analysis of past due loans as of the dates presented. Less Than 30 30-89 Days 30-89 Days Greater Total Not Current Total Loans Loans 90 June 30, 2015 Commercial & Industrial $ 779 $ 1,029 $ 281 $ 5,372 $ 7,461 $ 82,752 $ 90,213 $ — Death Care Management — — — — — 4,274 4,274 — Family Entertainment Centers — — — — — 488 488 — Healthcare — 346 135 1,626 2,107 10,357 12,464 — Independent Pharmacies — 631 140 1,541 2,312 35,067 37,379 — Registered Investment Advisors — — — — — 14,312 14,312 — Veterinary Industry 779 52 6 2,205 3,042 18,028 21,070 — Wine & Craft Beverage — — — — — 75 75 — Other Industries — — — — — 151 151 — Construction & Development — — — — — 18,282 18,282 — Agriculture — — — — — 7,092 7,092 — Death Care Management — — — — — 484 484 — Family Entertainment Centers — — — — — 122 122 — Healthcare — — — — — 7,061 7,061 — Independent Pharmacies — — — — — 483 483 — Veterinary Industry — — — — — 2,698 2,698 — Wine & Craft Beverage — — — — — 159 159 — Other Industries — — — — — 183 183 — Owner Occupied Commercial Real Estate 1,541 4,201 1,355 10,333 17,430 107,204 124,634 — Agriculture — — — — — 3,127 3,127 — Death Care Management — — — 1,677 1,677 17,833 19,510 — Family Entertainment Centers — — — — — 1,294 1,294 — Healthcare 181 — 24 2,224 2,429 27,914 30,343 — Independent Pharmacies — — — — — 5,179 5,179 — Registered Investment Advisors — — — — — 2,463 2,463 — Self Storage — — — — — 167 167 Veterinary Industry 1,360 4,201 1,331 6,432 13,324 47,901 61,225 — Wine & Craft Beverage — — — — — 1,016 1,016 — Other Industries — — — — — 310 310 — Commercial Land — — — — — 4,264 4,264 — Agriculture — — — — — 4,264 4,264 — Total 1 $ 2,320 $ 5,230 $ 1,636 $ 15,705 $ 24,891 $ 212,502 $ 237,393 $ — Less Than 30 30-89 Days 30-89 Days Greater Total Not Current Total Loans Loans 90 December 31, 2014 Commercial & Industrial $ 1,025 $ 1,433 $ 236 $ 5,872 $ 8,566 $ 72,491 $ 81,057 $ — Death Care Management — — — — — 3,603 3,603 — Family Entertainment Centers — — — — — 333 333 — Healthcare — 1,059 232 2,420 3,711 8,608 12,319 — Independent Pharmacies — 98 — 1,224 1,322 32,757 34,079 — Registered Investment Advisors — — — — — 9,660 9,660 — Veterinary Industry 1,025 276 4 2,228 3,533 17,369 20,902 — Other Industries — — — — — 161 161 — Construction & Development — — — — — 9,526 9,526 — Agriculture — — — — — 3,910 3,910 — Death Care Management — — — — — 92 92 — Healthcare — — — — — 2,957 2,957 — Independent Pharmacies — — — — — 215 215 — Veterinary Industry — — — — — 2,207 2,207 — Other Industries — — — — — 145 145 — Owner Occupied Commercial Real Estate 2,464 5,246 2,181 6,914 16,805 94,815 111,620 — Agriculture — — — — — 259 259 — Death Care Management — — — 1,721 1,721 17,158 18,879 — Family Entertainment Centers — — — — — 872 872 — Healthcare — 145 230 2,082 2,457 23,716 26,173 — Independent Pharmacies — — — — — 4,750 4,750 — Registered Investment Advisors — — — — — 2,161 2,161 — Veterinary Industry 2,464 5,101 1,951 2,836 12,352 45,582 57,934 — Other Industries — — — 275 275 317 592 — Commercial Land — — — — — 1,248 1,248 — Agriculture — — — — — 1,248 1,248 — Total 1 $ 3,489 $ 6,679 $ 2,417 $ 12,786 $ 25,371 $ 178,080 $ 203,451 $ — 1 Total loans include $21.8 million of U.S. government guaranteed loans as of June 30, 2015, of which $14.1 million is greater than 90 days past due, $3.5 million is 30-89 days past due and $4.3 million is included in current loans as presented above. As of December 31, 2014, total loans include $21.3 million of U.S. government guaranteed loans, of which $11.7 million is greater than 90 days past due, $3.5 million is 30-89 days past due and $6.1 million is included in current loans as presented above. |
Schedule of Nonaccrual Loans | Nonaccrual loans as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 Loan Guaranteed Unguaranteed Commercial & Industrial $ 6,432 $ 5,931 $ 501 Healthcare 1,761 1,586 175 Independent Pharmacies 1,681 1,456 225 Veterinary Industry 2,990 2,889 101 Owner Occupied Commercial Real Estate 13,229 10,641 2,588 Death Care Management 1,677 1,469 208 Healthcare 2,429 1,918 511 Veterinary Industry 9,123 7,254 1,869 Total $ 19,661 $ 16,572 $ 3,089 December 31, 2014 Loan Guaranteed Unguaranteed Commercial & Industrial $ 7,133 $ 6,620 $ 513 Healthcare 2,652 2,368 284 Independent Pharmacies 1,224 1,139 85 Veterinary Industry 3,257 3,113 144 Owner Occupied Commercial Real Estate 11,559 8,935 2,624 Death Care Management 1,721 1,505 216 Healthcare 2,312 1,919 393 Veterinary Industry 7,251 5,236 2,015 Other Industries 275 275 — Total $ 18,692 $ 15,555 $ 3,137 |
Schedule of Allowance for Loan Losses by Portfolio Segment Allowance | The following tables detail activity in the allowance for loan losses by portfolio segment allowance for the periods presented: Three months ended: Construction & Owner Commercial Commercial Total June 30, 2015 Beginning Balance $ 755 $ 2,062 $ 2,063 $ 354 $ 5,234 Charge offs — (42 ) (186 ) — (228 ) Recoveries — 87 40 — 127 Provision 89 239 (264 ) (14 ) 50 Ending Balance $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 June 30, 2014 Beginning Balance $ 480 $ 1,921 $ 812 $ — $ 3,213 Charge offs — (119 ) (8 ) — (127 ) Recoveries — 5 2 — 7 Provision (180 ) 124 506 25 475 Ending Balance $ 300 $ 1,931 $ 1,312 $ 25 $ 3,568 Six months ended: Construction & Owner Commercial Commercial Total June 30, 2015 Beginning Balance $ 586 $ 2,291 $ 1,369 $ 161 $ 4,407 Charge offs — (121 ) (358 ) — (479 ) Recoveries — 88 40 — 128 Provision 258 88 602 179 1,127 Ending Balance $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 June 30, 2014 Beginning Balance $ 350 $ 1,511 $ 862 $ — $ 2,723 Charge offs — (119 ) (8 ) — (127 ) Recoveries — 67 6 — 73 Provision (50 ) 472 452 25 899 Ending Balance $ 300 $ 1,931 $ 1,312 $ 25 $ 3,568 The following tables detail the recorded allowance for loan losses and the investment in loans related to each portfolio segment, disaggregated on the basis of impairment evaluation methodology: June 30, 2015 Construction & Owner Commercial Commercial Total Allowance for Loan Losses: Loans individually evaluated for impairment $ — $ 1,092 $ 677 $ — $ 1,769 Loans collectively evaluated for impairment 844 1,254 976 340 3,414 Total allowance for loan losses $ 844 $ 2,346 $ 1,653 $ 340 $ 5,183 Loans receivable 1 Loans individually evaluated for impairment $ — $ 16,694 $ 9,023 $ — $ 25,717 Loans collectively evaluated for impairment 18,282 107,940 81,190 4,264 211,676 Total loans receivable $ 18,282 $ 124,634 $ 90,213 $ 4,264 $ 237,393 December 31, 2014 Construction Owner Commercial Commercial Total Allowance for Loan Losses: Loans individually evaluated for impairment $ — $ 1,051 $ 676 $ — $ 1,727 Loans collectively evaluated for impairment 586 1,240 693 161 2,680 Total allowance for loan losses $ 586 $ 2,291 $ 1,369 $ 161 $ 4,407 Loans Receivable 1 Loans individually evaluated for impairment $ — $ 16,551 $ 10,226 $ — $ 26,777 Loans collectively evaluated for impairment 9,526 95,069 70,831 1,248 176,674 Total loans receivable $ 9,526 $ 111,620 $ 81,057 $ 1,248 $ 203,451 1 Loans receivable includes $21.8 million of U.S. government guaranteed loans as of June 30, 2015, of which $20.3 million are included in loans individually evaluated for impairment and $1.6 million are included in loans collectively evaluated for impairment, as presented above. As of December 31, 2014, loans receivable includes $21.3 million of U.S. government guaranteed loans, of which $19.5 million are included in loans individually evaluated for impairment and $2.0 million are included in loans collectively evaluated for impairment, as presented above. |
Summary of Loans Individually Evaluated for Impairment | Loans individually evaluated for impairment as of the dates presented are summarized in the following tables. June 30, 2015 Unpaid Guaranteed Unguaranteed Commercial & Industrial $ 9,023 $ 7,434 $ 1,589 Healthcare 3,311 2,746 565 Independent Pharmacies 2,492 1,799 693 Veterinary Industry 3,220 2,889 331 Owner Occupied Commercial Real Estate 16,694 12,837 3,857 Death Care Management 1,677 1,469 208 Healthcare 2,429 1,919 510 Veterinary Industry 12,588 9,449 3,139 Total $ 25,717 $ 20,271 $ 5,446 December 31, 2014 Unpaid Guaranteed Unguaranteed Commercial & Industrial $ 10,226 $ 8,341 $ 1,885 Healthcare 4,217 3,540 677 Independent Pharmacies 2,203 1,492 711 Veterinary Industry 3,806 3,309 497 Owner Occupied Commercial Real Estate 16,551 11,155 5,396 Death Care Management 1,721 1,505 216 Healthcare 2,312 1,919 393 Veterinary Industry 12,243 7,456 4,787 Other Industries 275 275 — Total $ 26,777 $ 19,496 $ 7,281 |
Schedule of Evaluated Balances of Loans Classified as Impaired | The following table presents evaluated balances of loans classified as impaired at the dates presented that carried an associated reserve as compared to those with no reserve. The recorded investment includes accrued interest, net deferred loan fees or costs and any non-accreted loan discount. Three months ended June 30, 2015: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,020 $ 1,008 $ — $ 2,852 $ 7 Commercial & Industrial 331 327 — 1,622 5 Healthcare 97 95 — 352 1 Independent Pharmacies 191 190 — 1,150 2 Veterinary Industry 43 42 — 120 2 Owner Occupied Commercial Real Estate 689 681 — 1,230 2 Healthcare 166 164 — 143 — Veterinary Industry 523 517 — 1,087 2 Loans with an allowance 24,697 24,649 1,769 24,533 87 Commercial & Industrial 8,693 8,686 677 8,313 38 Healthcare 3,213 3,215 298 2,968 24 Independent Pharmacies 2,303 2,299 345 2,601 11 Veterinary Industry 3,177 3,172 34 2,744 3 Owner Occupied Commercial Real Estate 16,004 15,963 1,092 16,220 49 Death Care Management 1,677 1,675 11 1,418 — Healthcare 2,263 2,260 78 2,359 — Veterinary Industry 12,064 12,028 1,003 12,443 49 Total $ 25,717 $ 25,657 $ 1,769 $ 27,385 $ 94 Three months ended June 30, 2014: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,051 $ 1,037 $ — $ 6,220 $ 8 Commercial & Industrial 211 208 — 3,690 3 Healthcare 91 89 — 705 1 Veterinary Industry 120 119 — 2,985 2 Owner Occupied Commercial Real Estate 840 829 — 2,530 5 Veterinary Industry 840 829 — 2,530 5 Loans with an allowance 17,397 17,560 436 11,774 101 Commercial & Industrial 6,374 6,462 245 3,444 24 Healthcare 2,148 2,183 8 2,831 — Independent Pharmacies 372 371 137 — 17 Veterinary Industry 3,854 3,908 100 613 7 Construction & Development 1,996 1,997 12 2,952 32 Veterinary Industry 1,996 1,997 12 2,952 32 Owner Occupied Commercial Real Estate 9,027 9,101 179 5,378 45 Healthcare 1,127 1,152 2 1,054 — Veterinary Industry 7,900 7,949 177 4,324 45 Total $ 18,448 $ 18,597 $ 436 $ 17,994 $ 109 Six months ended June 30, 2015: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,020 $ 1,008 $ — $ 2,428 $ 12 Commercial & Industrial 331 327 — 1,000 8 Healthcare 97 95 — 224 1 Independent Pharmacies 191 190 — 618 5 Veterinary Industry 43 42 — 158 2 Owner Occupied Commercial Real Estate 689 681 — 1,428 4 Healthcare 166 164 — 146 — Veterinary Industry 523 517 — 1,282 4 Loans with an allowance 24,697 24,649 1,769 23,686 159 Commercial & Industrial 8,693 8,686 677 8,652 73 Healthcare 3,213 3,215 298 3,310 47 Independent Pharmacies 2,303 2,299 345 2,166 20 Veterinary Industry 3,177 3,172 34 3,176 6 Owner Occupied Commercial Real Estate 16,004 15,963 1,092 15,034 86 Death Care Management 1,677 1,675 11 1,475 — Healthcare 2,263 2,260 78 2,173 — Veterinary Industry 12,064 12,028 1,003 11,386 86 Total $ 25,717 $ 25,657 $ 1,769 $ 26,114 $ 171 December 31, 2014 Unpaid Recorded Total Average Interest Loans with no allowance $ 1,213 $ 1,197 $ — $ 1,998 $ 113 Commercial & Industrial 239 237 — 363 64 Healthcare 3 3 — 88 2 Independent Pharmacies 194 194 — 86 57 Veterinary Industry 42 40 — 189 5 Owner Occupied Commercial Real Estate 974 960 — 1,635 49 Death Care Management — — — 66 — Healthcare 41 41 — 147 — Veterinary Industry 933 919 — 1,422 49 Loans with an allowance 25,564 23,805 1,727 20,076 361 Commercial & Industrial 9,987 9,747 676 6,583 97 Healthcare 4,214 4,202 361 3,333 38 Independent Pharmacies 2,009 2,005 206 621 17 Veterinary Industry 3,764 3,540 109 2,629 42 Owner Occupied Commercial Real Estate 15,577 14,058 1,051 13,493 264 Death Care Management 1,721 1,720 20 414 — Healthcare 2,271 2,268 82 1,967 — Veterinary Industry 11,310 9,796 947 11,036 264 Other Industries 275 274 2 76 — Total $ 26,777 $ 25,002 $ 1,727 $ 22,074 $ 474 Six months ended June 30, 2014: Unpaid Recorded Total Average Interest Loans with no allowance $ 1,051 $ 1,037 $ — $ 3,680 $ 26 Commercial & Industrial 211 208 — 1,919 11 Healthcare 91 89 — 373 1 Veterinary Industry 120 119 — 1,546 10 Owner Occupied Commercial Real Estate 840 829 — 1,761 15 Veterinary Industry 840 829 — 1,761 15 Loans with an allowance 17,397 17,560 436 13,920 183 Commercial & Industrial 6,374 6,462 245 4,403 40 Healthcare 2,148 2,183 8 2,210 — Independent Pharmacies 372 371 137 — 17 Veterinary Industry 3,854 3,908 100 2,193 23 Construction & Development 1,996 1,997 12 1,476 67 Veterinary Industry 1,996 1,997 12 1,476 67 Owner Occupied Commercial Real Estate 9,027 9,101 179 8,041 77 Healthcare 1,127 1,152 2 1,054 — Veterinary Industry 7,900 7,949 177 6,987 77 Total $ 18,448 $ 18,597 $ 436 $ 17,600 $ 209 |
Summary of Types of Troubled Debt Restructurings | The following table represent the types of TDRs that were made during the periods presented: Three months ended June 30, 2014: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 2 $ 372 $ — $ 372 Independent Pharmacies 2 372 — 372 Extend Amortization 2 372 — 372 Owner Occupied Commercial Real Estate 1 8 — 8 Veterinary Industry 1 8 — 8 Interest Only 1 8 — 8 Total Loans 3 $ 380 $ — $ 380 Six months ended June 30, 2015: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 3 $ 133 $ — $ 133 Healthcare 3 133 — 133 Interest Only 3 133 — 133 Owner Occupied Commercial Real Estate 1 24 — 24 Healthcare 1 24 — 24 Interest Only 1 24 — 24 Total Loans 4 $ 157 $ — $ 157 Six months ended June 30, 2014: Number of Loan Guaranteed Unguaranteed Commercial & Industrial 5 $ 588 $ — $ 588 Independent Pharmacies 2 372 — 372 Extend Amortization 2 372 — 372 Veterinary Industry 3 216 — 216 Payment Deferral 3 216 — 216 Owner Occupied Commercial Real Estate 1 8 — 8 Veterinary Industry 1 8 — 8 Interest Only 1 8 — 8 Total Loans 6 $ 596 $ — $ 596 The following tables represent the recorded investment in TDR loans entered into during the six months ended: June 30, 2015 Number of Pre-modification Investment Post-modification Commercial & Industrial 3 $ 229 $ 133 Healthcare 3 229 133 Interest Only 3 229 133 Owner Occupied Commercial Real Estate 1 41 24 Healthcare 1 41 24 Interest Only 1 41 24 Total Loans 4 $ 270 $ 157 June 30, 2014 Number of Pre-modification Post-modification Commercial & Industrial 5 $ 598 $ 588 Independent Pharmacies 2 379 372 Extend Amortization 2 379 372 Veterinary Industry 3 219 216 Payment Deferral 3 219 216 Owner Occupied Commercial Real Estate 1 8 8 Veterinary Industry 1 8 8 Payment Deferral 1 8 8 Total Loans 6 $ 606 $ 596 |
Summary of Recorded Investment in TDR Loans | The following tables represent the recorded investment in TDR loans entered into during the six months ended: June 30, 2015 Number of Pre-modification Investment Post-modification Commercial & Industrial 3 $ 229 $ 133 Healthcare 3 229 133 Interest Only 3 229 133 Owner Occupied Commercial Real Estate 1 41 24 Healthcare 1 41 24 Interest Only 1 41 24 Total Loans 4 $ 270 $ 157 June 30, 2014 Number of Pre-modification Post-modification Commercial & Industrial 5 $ 598 $ 588 Independent Pharmacies 2 379 372 Extend Amortization 2 379 372 Veterinary Industry 3 219 216 Payment Deferral 3 219 216 Owner Occupied Commercial Real Estate 1 8 8 Veterinary Industry 1 8 8 Payment Deferral 1 8 8 Total Loans 6 $ 606 $ 596 |
Summary of Modified TDR Loan | The following tables present loans that were modified as TDRs within the twelve months ending June 30, 2015 and 2014, for which there was a payment default during the subsequent months: June 30, 2015 Post-modification Number of Recorded Default (Charge-Off) Owner Occupied Commercial Real Estate 2 $ 1,675 Death Care Management 1 1,675 Payment Deferral 1 1,675 Veterinary Industry 1 — Interest Only 1 — Default (Nonaccrual) Commercial & Industrial 4 272 Healthcare 3 133 Interest Only 3 133 Independent Pharmacies 1 139 Interest Only 1 139 Owner Occupied Commercial Real Estate 1 24 Healthcare 1 24 Interest Only 1 24 No Defaults (paying as restructured) Commercial & Industrial 1 165 Independent Pharmacies 1 165 Extend Amortization 1 165 Total Loans 8 2,136 Total TDRs paying as restructured 1 165 Total TDRs 8 $ 2,136 June 30, 2014 Post-modification Number of Recorded No Defaults (paying as restructured) 6 $ 596 Commercial & Industrial 5 588 Independent Pharmacies 2 372 Extend Amortization 2 372 Veterinary Industry 3 216 Payment Deferral 3 216 Owner Occupied Commercial Real Estate 1 8 Veterinary Industry 1 8 Interest Only 1 8 Total Loans 6 596 Total TDRs paying as restructured 6 596 Total TDRs 6 $ 596 |
Servicing Assets (Tables)
Servicing Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Transfers and Servicing [Abstract] | |
Summary of Activity Pertaining to Servicing Rights | The following summarizes the activity pertaining to servicing rights: Three Months Ended Six Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 38,457 $ 30,518 $ 34,999 $ 29,053 Additions, net 3,373 2,666 6,709 4,751 Changes in fair value (1,847 ) (3 ) (1,725 ) (623 ) Balance at end of period $ 39,983 $ 33,181 $ 39,983 $ 33,181 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Total Outstanding Short and Long-Term Borrowings | Total outstanding short and long-term borrowings consisted of the following: June 30, December 31, Short term borrowings On September 18, 2014, the Company entered into a line of credit of $6.1 million with an unaffiliated commercial bank, secured by 1,900,000 shares of common stock of nCino, Inc., a former subsidiary of the Company. At December 31, 2014 there was $6.1 million advanced on the line of credit. Interest accrues at 30 day LIBOR (0.16% at December 31, 2014) plus 3.50% for a term of 12 months. Payments are interest only with all principal and accrued interest due on September 18, 2015. This loan was repaid in full on February 23, 2015. $ — $ 6,100 Total short term borrowings $ — $ 6,100 Long term borrowings In April 2011, the Company elected to participate in the U.S. Treasury’s Small Business Lending Fund program (“SBLF”) whereby the U.S. Treasury agreed to purchase $6.8 million in senior securities. During the initial interest period the applicable interest rate was set at 1.5%. For all remaining interest periods, which commenced on January 1, 2012, the interest rate is determined based on a formula which encompasses the percentage change in qualified lending as well as a non-qualifying portion percentage. This rate can range from 1.5% to 10.8%. At June 30, 2015 the interest rate was 1.50%. Interest is payable quarterly in arrears. With the approval of the Company’s regulator, we may exit the Small Business Lending Fund at any time simply by repaying the funding provided along with any accrued but unpaid interest. If the institution wishes to repay its SBLF funding in partial payments, each partial payment must be at least 25% of the original funding amount. All senior securities will mature on September 13, 2021 at which time all principal and accrued interest will be due. $ 6,800 $ 6,800 On May 12, 2014, Independence Aviation financed the purchase of an airplane by entering into a promissory note with an unaffiliated commercial bank in the amount of $6 million which carries a fixed rate of 4.97% for a term of 59 months. Monthly payments are set at $48 thousand with all principal and accrued interest due on May 12, 2019. 5,702 5,842 On September 11, 2014, the Company financed the construction of an additional building located on the Company’s Tiburon Drive main campus for a $24 million construction line of credit with an unaffiliated commercial bank, secured by both properties at its Tiburon Drive main facility location. Payments are interest only through September 11, 2016 at a fixed rate of 3.95% for a term of 84 months. Monthly principal and interest payments beginning in October 2016 will be $146 thousand with all principal and accrued interest due on September 11, 2021. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. The construction line is fully disbursed and there was no remaining available credit on this construction line at June 30, 2015. 24,000 16,914 On September 18, 2014, the Company entered into a note payable line of credit of $8.1 million with an unaffiliated commercial bank, with the first advance of $5 million on December 14, 2014. The note is unsecured and accrues interest at LIBOR plus 3.50% for a term of 36 months. Payments are interest only with all principal and accrued interest due on September 18, 2017. There is $3.1 million of remaining available credit on this note at June 30, 2015. 5,000 5,000 On August 1, 2014, the Company entered into a note payable line of credit of $15 million with an unaffiliated commercial bank, secured by 100% of Live Oak Banking Company’s outstanding common stock. Interest accrues at LIBOR plus 4.00% for a term of 36 months. Payments are interest only with all principal and accrued interest due on August 1, 2017. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. There is $7.8 million of remaining available credit on this line of credit at June 30, 2015. 7,210 7,210 On March 10, 2015, Independence Aviation refinanced an existing loan with Live Oak Banking Company and entered into a new loan with an unaffiliated commercial bank in the amount of $1.2 million which carries a fixed rate of 4.96% for a term of 51 months. Monthly payments are set at $9 thousand with all principal and accrued interest due on June 10, 2019. 1,182 — On February 23, 2015 the Company transferred two related party loans to an unrelated third party financial institution in exchange for $4.7 million. The exchange price equated to the unpaid principal balance plus accrued but uncollected interest at the time of transfer. The terms of the transfer agreement with the third party institution identified the transaction as a secured borrowing for accounting purposes. Interest accrues at prime plus 1% with monthly principal and interest payments over a term of 60 months. The maturity date is October 5, 2019. The pledged collateral is classified in other assets with a fair value of $4.6 million at June 30, 2015. Underlying loans carry a risk grade of 3 and are current with no delinquencies. The terms of this loan require the Company to maintain minimum capital, liquidity and Texas ratios. 4,575 — With the acquisition of GLS on September 1, 2013, the Company assumed the obligation to pay a former GLS partner $250 thousand at $10 thousand a month over a 24 month period. 21 83 Total long term borrowings $ 54,490 $ 41,849 |
Fair Value of Financial Instr24
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Unobservable Inputs Used in Level 3 Assets and Liabilities Measured at Fair Value on Recurring or Non-recurring Basis | For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of June 30, 2015 and December 31, 2014 the significant unobservable inputs used in the fair value measurements were as follows: June 30, 2015 Level 3 Assets with Significant Fair Value Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 22,991 Discounted appraisals Appraisal adjustments (1) 10% to 20% Discounted expected cash flows Interest rate & repayment term Weighted Average discount rate 4.86% Foreclosed Assets $ 34 Discounted appraisals Appraisal adjustments (1) 10% to 20% December 31, 2014 Level 3 Assets with Significant Fair Value Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 24,016 Discounted appraisals Appraisal adjustments (1) 10% to 20% Discounted expected cash flows Interest rate & repayment term Weighted Foreclosed Assets $ 371 Discounted appraisals Appraisal adjustments (1) 10% to 20% (1) Appraisals may be adjusted by management for customized discounting criteria, estimated sales costs, and proprietary qualitative adjustments. |
Carrying Amount and Estimated Fair Value of Financial Instruments | The carrying amounts and estimated fair values of the Company’s financial instruments are as follows: June 30, 2015 Carrying Quoted Price Significant Significant (Level 3) Ending Financial assets Cash and due from banks $ 131,487 $ 131,487 $ — $ — $ 131,487 Certificates of deposit with other banks 10,000 9,931 — — 9,931 Investment securities, available for sale 50,719 — 50,719 — 50,719 Loans held for sale 356,481 — — 367,504 367,504 Loans, net of allowance for loan losses 232,429 — — 226,429 226,429 Servicing assets 39,983 — — 39,983 39,983 Accrued interest receivable 4,228 4,228 — — 4,228 Financial liabilities Deposits 727,346 — 724,160 — 724,160 Accrued interest payable 201 201 — — 201 Long term borrowings 54,490 — — 57,372 57,372 December 31, 2014 Carrying Quoted Price Significant Significant Ending Financial assets Cash and due from banks $ 29,902 $ 29,902 $ — $ — $ 29,902 Certificates of deposit with other banks 10,000 9,861 — — 9,861 Investment securities, available for sale 49,318 — 49,318 — 49,318 Loans held for sale 295,180 — — 304,504 304,504 Loans, net of allowance for loan losses 199,529 — — 194,007 194,007 Servicing assets 34,999 — — 34,999 34,999 Accrued interest receivable 3,059 3,059 — — 3,059 Financial liabilities Deposits 522,080 — 522,058 — 522,058 Accrued interest payable 190 190 — — 190 Short term borrowings 6,100 — — 6,100 6,100 Long term borrowings 41,849 — — 44,738 44,738 |
Recurring Fair Value [Member] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis and Non-recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 Investment securities available-for-sale US government agencies $ 35,424 $ — $ 35,424 $ — Residential mortgage-backed securities 13,391 — 13,391 — Mutual fund 1,904 — 1,904 — Servicing assets 1 39,983 — — 39,983 Total assets at fair value $ 90,702 $ — $ 50,719 $ 39,983 December 31, 2014 Total Level 1 Level 2 Level 3 Investment securities available-for-sale US government agencies $ 35,309 $ — $ 35,309 $ — Residential mortgage-backed securities 14,009 — 14,009 — Servicing assets 1 34,999 — — 34,999 Total assets at fair value $ 84,317 $ — $ 49,318 $ 34,999 1 See Note 6 for a rollforward of recurring Level 3 fair values for servicing assets. |
Non-recurring Fair Value [Member] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis and Non-recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a non-recurring basis. June 30, 2015 Total Level 1 Level 2 Level 3 Impaired loans $ 22,991 $ — $ — $ 22,991 Foreclosed assets 34 — — 34 Total assets at fair value $ 23,025 $ — $ — $ 23,025 December 31, 2014 Total Level 1 Level 2 Level 3 Impaired loans $ 24,016 $ — $ — $ 24,016 Foreclosed assets 371 — — 371 Total assets at fair value $ 24,387 $ — $ — $ 24,387 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Commitments | A summary of the Company’s commitments is as follows: June 30, December 31, Commitments to extend credit $ 696,357 $ 537,951 Plexus Capital - Fund II Investment Commitment 100 100 Plexus Capital - Fund III Investment Commitment 300 350 Total unfunded off-balance sheet credit risk $ 696,757 $ 538,401 |
Stock Plans (Tables)
Stock Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Stock Option Activity | Stock option activity under the plan during the six month periods ended June 30, 2015 and 2014 is summarized below. Shares Weighted Weighted Aggregate Outstanding at December 31, 2014 1,737,570 $ 5.51 Exercised 34,930 4.40 Forfeited 66,319 4.88 Granted 636,505 11.70 Outstanding at June 30, 2015 2,272,826 $ 7.28 9.03 years $ 15,277,131 Exercisable at June 30, 2015 149,258 $ 3.76 8.20 years $ 1,528,763 Shares Weighted Weighted Aggregate Outstanding at December 31, 2013 225,000 $ 1.01 Exercised 174,990 0.87 Forfeited 21,480 4.40 Granted 1,550,000 4.40 Outstanding at June 30, 2014 1,578,530 $ 4.31 9.66 years $ 1,442,290 Exercisable at June 30, 2014 16,680 $ 1.50 6.91 years $ 483,630 |
Summary of Non-vested Stock Option Activity | The following is a summary of non-vested stock option activity for the Company for the six months ended June 30, 2015. Shares Weighted Non-vested at December 31, 2014 1,704,230 $ 1.18 Granted 636,505 4.59 Vested 115,918 0.53 Exercised 34,930 0.58 Forfeited 66,319 0.83 Non-vested at June 30, 2015 2,123,568 $ 2.26 |
Summary of Restricted Stock Activity | Restricted stock activity under the plan during the first six months of 2015 is summarized below. Shares Weighted Outstanding at December 31, 2014 — $ — Granted 9,243 10.63 Vested — — Excercised — — Forfeited 407 10.63 Non-vested at June 30, 2015 8,836 $ 10.63 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($)Segment | Feb. 02, 2015USD ($) | |
Summary of Accounting and Financial Policies [Line Items] | ||
Ownership percentage after additional acquisition | 91.30% | |
Additional acquisition percentage | 41.30% | |
Contingent consideration in acquisition of controlling interest in equity method of investment | $ 170 | $ 170 |
Ownership percentage with noncontrolling owners | 8.70% | |
Common stock, stock split | Ten-for-one stock | |
Common stock, stock split ratio | 10 | |
Number of operating segments | Segment | 1 | |
Five Zero four FA [Member] | ||
Summary of Accounting and Financial Policies [Line Items] | ||
Equity ownership percentage | 50.00% |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share Computed Based on Weighted Average Number of Shares Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Basic earnings per share: | ||||
Net income available to common shareholders | $ 3,935 | $ 6,661 | $ 12,008 | $ 6,959 |
Weighted-average basic shares outstanding | 28,636,182 | 21,202,728 | 28,628,177 | 20,790,765 |
Basic earnings per share | $ 0.14 | $ 0.31 | $ 0.42 | $ 0.33 |
Diluted earnings per share: | ||||
Net income available to common shareholders, for diluted EPS | $ 3,935 | $ 6,661 | $ 12,008 | $ 6,959 |
Total weighted-average basic shares outstanding | 28,636,182 | 21,202,728 | 28,628,177 | 20,790,765 |
Add effect of dilutive stock options and restricted stock grants | 862,217 | 73,379 | 811,645 | 141,680 |
Total weighted-average diluted shares outstanding | 29,498,399 | 21,276,107 | 29,439,822 | 20,932,445 |
Diluted earnings per share | $ 0.13 | $ 0.31 | $ 0.41 | $ 0.33 |
Anti-dilutive securities | 916,199 | 1,528,520 | 956,199 | 1,528,520 |
Earnings Per Share - Additional
Earnings Per Share - Additional information (Detail) - Jun. 30, 2014 | Total | Total |
Earnings Per Share [Abstract] | ||
Effective tax rate | 38.50% | 38.50% |
Earnings Per Share - Schedule30
Earnings Per Share - Schedule of Proforma for Income Tax Expense and Earnings Per Share (Detail) - Jun. 30, 2014 - USD ($) $ / shares in Units, $ in Thousands | Total | Total |
Earnings Per Share ProForma [Line Items] | ||
Pro forma basic earnings per share | $ 0.19 | $ 0.21 |
Pro forma diluted earnings per share | $ 0.19 | $ 0.20 |
Pro Forma [Member] | ||
Earnings Per Share ProForma [Line Items] | ||
Pro forma net income available to common shareholders, after tax | $ 4,096 | $ 4,280 |
Securities - Summary of Carryin
Securities - Summary of Carrying Amount and Fair Value of Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | $ 50,716 | $ 49,180 | ||
Unrealized Gains | 235 | 219 | ||
Unrealized Losses | 232 | 81 | ||
Fair Value | 50,719 | 49,318 | [1] | |
US Government Agencies [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | 35,229 | 35,207 | ||
Unrealized Gains | 213 | 127 | ||
Unrealized Losses | 18 | 25 | ||
Fair Value | 35,424 | 35,309 | ||
Residential Mortgage Backed Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | 13,574 | 13,973 | ||
Unrealized Gains | 22 | 92 | ||
Unrealized Losses | 205 | 56 | ||
Fair Value | 13,391 | $ 14,009 | ||
Mutual Fund [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized Cost | 1,913 | |||
Unrealized Losses | 9 | |||
Fair Value | $ 1,904 | $ 1,900 | ||
[1] | Derived from audited financial statements. |
Securities - Additional Informa
Securities - Additional Information (Detail) $ / shares in Units, $ in Thousands | 6 Months Ended | |||
Jun. 30, 2015USD ($)Securities$ / sharesshares | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($)Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment at current market value | $ 50,719 | $ 49,318 | [1] | |
Greater than 12 months in unrealized loss position, Number of securities | Securities | 4 | 6 | ||
Investment securities, fair market value | $ 1,300 | $ 1,300 | ||
Mutual Fund [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment at current market value | $ 1,904 | $ 1,900 | ||
Number of securities purchased | shares | 190,380.762 | |||
Securities purchased, price per share | $ / shares | $ 9.98 | |||
US Government Agencies [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment at current market value | $ 35,424 | $ 35,309 | ||
Greater than 12 months in unrealized loss position, Number of securities | Securities | 1 | 1 | ||
Residential Mortgage Backed Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Investment at current market value | $ 13,391 | $ 14,009 | ||
Greater than 12 months in unrealized loss position, Number of securities | Securities | 3 | 5 | ||
Less than 12 months in unrealized loss position, Number of securities | Securities | 5 | 1 | ||
Six Mortgage Backed Securities Sold [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Mortgage-backed securities | $ 3,400 | |||
Number of mortgage-backed securities | Securities | 6 | |||
Two Mortgage Backed Securities Purchased[Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Mortgage-backed securities | $ 4,000 | |||
Number of mortgage-backed securities | Securities | 2 | |||
[1] | Derived from audited financial statements. |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | $ 9,355 | $ 2,234 |
Unrealized Losses, Less Than 12 Months | 170 | 4 |
Fair Value, 12 Months or More | 4,577 | 6,382 |
Unrealized Losses, 12 Months or More | 62 | 77 |
Total Fair Value | 13,932 | 8,616 |
Total Unrealized Losses | 232 | 81 |
US Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or More | 1,231 | 1,224 |
Unrealized Losses, 12 Months or More | 18 | 25 |
Total Fair Value | 1,231 | 1,224 |
Total Unrealized Losses | 18 | 25 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 7,451 | 2,234 |
Unrealized Losses, Less Than 12 Months | 161 | 4 |
Fair Value, 12 Months or More | 3,346 | 5,158 |
Unrealized Losses, 12 Months or More | 44 | 52 |
Total Fair Value | 10,797 | 7,392 |
Total Unrealized Losses | 205 | $ 56 |
Mutual Fund [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 1,904 | |
Unrealized Losses, Less Than 12 Months | 9 | |
Total Fair Value | 1,904 | |
Total Unrealized Losses | $ 9 |
Securities - Summary of Investm
Securities - Summary of Investment Securities by Maturity (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Available-for-sale Securities, Debt Maturities [Abstract] | |
One to five years, Amortized Cost | $ 33,979 |
Five to ten years, Amortized Cost | 2,068 |
After 10 years, Amortized Cost | 12,756 |
Total, Amortized Cost | 48,803 |
One to five years, Fair Value | 34,193 |
Five to ten years, Fair Value | 2,053 |
After 10 years, Fair Value | 12,569 |
Available for sale, Fair Value, Total | $ 48,815 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses - Summary of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 237,393 | $ 203,451 | |
Net Deferred Costs | 2,491 | 2,060 | |
Discount on SBA 7(a) Unguaranteed | (2,272) | (1,575) | |
Loans, Net of Unearned | 237,612 | 203,936 | [1] |
Commercial & Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 90,213 | 81,057 | |
Commercial & Industrial [Member] | Death Care Management [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 4,274 | 3,603 | |
Commercial & Industrial [Member] | Family Entertainment Centers [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 488 | 333 | |
Commercial & Industrial [Member] | Health Care [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 12,464 | 12,319 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 37,379 | 34,079 | |
Commercial & Industrial [Member] | Registered Investment Advisors [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 14,312 | 9,660 | |
Commercial & Industrial [Member] | Veterinary Industry [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 21,070 | 20,902 | |
Commercial & Industrial [Member] | Wine & Craft Beverage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 75 | ||
Commercial & Industrial [Member] | Other Industries [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 151 | 161 | |
Construction & Development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 18,282 | 9,526 | |
Construction & Development [Member] | Death Care Management [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 484 | 92 | |
Construction & Development [Member] | Family Entertainment Centers [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 122 | ||
Construction & Development [Member] | Health Care [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 7,061 | 2,957 | |
Construction & Development [Member] | Independent Pharmacies [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 483 | 215 | |
Construction & Development [Member] | Veterinary Industry [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 2,698 | 2,207 | |
Construction & Development [Member] | Wine & Craft Beverage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 159 | ||
Construction & Development [Member] | Other Industries [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 183 | 145 | |
Construction & Development [Member] | Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 7,092 | 3,910 | |
Owner Occupied Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 124,634 | 111,620 | |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 19,510 | 18,879 | |
Owner Occupied Commercial Real Estate [Member] | Family Entertainment Centers [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 1,294 | 872 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 30,343 | 26,173 | |
Owner Occupied Commercial Real Estate [Member] | Independent Pharmacies [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 5,179 | 4,750 | |
Owner Occupied Commercial Real Estate [Member] | Registered Investment Advisors [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 2,463 | 2,161 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 61,225 | 57,934 | |
Owner Occupied Commercial Real Estate [Member] | Wine & Craft Beverage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 1,016 | ||
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 310 | 592 | |
Owner Occupied Commercial Real Estate [Member] | Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 3,127 | 259 | |
Owner Occupied Commercial Real Estate [Member] | Self Storage [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 167 | ||
Commercial Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 4,264 | 1,248 | |
Commercial Land [Member] | Agricultural [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 4,264 | $ 1,248 | |
[1] | Derived from audited financial statements. |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses - Summary of Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 237,393 | $ 203,451 |
Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 21,800 | $ 21,300 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)TDRs | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)Score | Jun. 30, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ | $ 102 | $ 75 | $ 261 | $ 127 |
Number of new TDR agreements | TDRs | 0 | |||
Loans (1 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Debt service coverage | 175.00% | 175.00% | ||
Maximum [Member] | Loans (1 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan-to-value ratio | 65.00% | 65.00% | ||
Maximum [Member] | Loans (2 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loan-to-value ratio | 75.00% | 75.00% | ||
Maximum [Member] | Loans (4 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Cash flow coverage | 100.00% | |||
Minimum [Member] | Loans (1 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Discounted collateral coverage | 125.00% | |||
Credit score | 740 | |||
Minimum [Member] | Loans (3 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Debt service coverage | 100.00% | 100.00% | ||
Minimum [Member] | Loans (2 Rated) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Debt service coverage | 125.00% | 125.00% | ||
Discounted collateral coverage | 100.00% | |||
Credit score | 700 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses - Summary of Risk Grades of Each Category of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 237,393 | $ 203,451 |
Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 196,323 | 162,434 |
Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,823 | 9,765 |
Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 33,247 | 31,252 |
Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 90,213 | 81,057 |
Commercial & Industrial [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 73,965 | 63,777 |
Commercial & Industrial [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,144 | 4,546 |
Commercial & Industrial [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,104 | 12,734 |
Commercial & Industrial [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,274 | 3,603 |
Commercial & Industrial [Member] | Death Care Management [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,170 | 3,603 |
Commercial & Industrial [Member] | Death Care Management [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 104 | |
Commercial & Industrial [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 488 | 333 |
Commercial & Industrial [Member] | Family Entertainment Centers [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 488 | 333 |
Commercial & Industrial [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 12,464 | 12,319 |
Commercial & Industrial [Member] | Health Care [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,355 | 6,995 |
Commercial & Industrial [Member] | Health Care [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 920 | 538 |
Commercial & Industrial [Member] | Health Care [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,189 | 4,786 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 37,379 | 34,079 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 31,554 | 27,673 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,441 | 2,726 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,384 | 3,680 |
Commercial & Industrial [Member] | Registered Investment Advisors [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 14,312 | 9,660 |
Commercial & Industrial [Member] | Registered Investment Advisors [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 14,312 | 9,660 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 21,070 | 20,902 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,011 | 15,513 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 528 | 1,121 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,531 | 4,268 |
Commercial & Industrial [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 151 | 161 |
Commercial & Industrial [Member] | Other Industries [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 151 | 161 |
Commercial & Industrial [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 75 | |
Commercial & Industrial [Member] | Wine & Craft Beverage [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 75 | |
Construction & Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 18,282 | 9,526 |
Construction & Development [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 18,282 | 9,526 |
Construction & Development [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 484 | 92 |
Construction & Development [Member] | Death Care Management [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 484 | 92 |
Construction & Development [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122 | |
Construction & Development [Member] | Family Entertainment Centers [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122 | |
Construction & Development [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,061 | 2,957 |
Construction & Development [Member] | Health Care [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,061 | 2,957 |
Construction & Development [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 483 | 215 |
Construction & Development [Member] | Independent Pharmacies [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 483 | 215 |
Construction & Development [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,698 | 2,207 |
Construction & Development [Member] | Veterinary Industry [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,698 | 2,207 |
Construction & Development [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 183 | 145 |
Construction & Development [Member] | Other Industries [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 183 | 145 |
Construction & Development [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,092 | 3,910 |
Construction & Development [Member] | Agricultural [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,092 | 3,910 |
Construction & Development [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 159 | |
Construction & Development [Member] | Wine & Craft Beverage [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 159 | |
Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 124,634 | 111,620 |
Owner Occupied Commercial Real Estate [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 99,812 | 87,883 |
Owner Occupied Commercial Real Estate [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,679 | 5,219 |
Owner Occupied Commercial Real Estate [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 20,143 | 18,518 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 19,510 | 18,879 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,812 | 16,519 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,022 | 639 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,676 | 1,721 |
Owner Occupied Commercial Real Estate [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,294 | 872 |
Owner Occupied Commercial Real Estate [Member] | Family Entertainment Centers [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,294 | 872 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 30,343 | 26,173 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 26,060 | 22,778 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,725 | 938 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,558 | 2,457 |
Owner Occupied Commercial Real Estate [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,179 | 4,750 |
Owner Occupied Commercial Real Estate [Member] | Independent Pharmacies [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,987 | 4,709 |
Owner Occupied Commercial Real Estate [Member] | Independent Pharmacies [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 192 | 41 |
Owner Occupied Commercial Real Estate [Member] | Registered Investment Advisors [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,463 | 2,161 |
Owner Occupied Commercial Real Estate [Member] | Registered Investment Advisors [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,463 | 2,161 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 61,225 | 57,934 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 43,586 | 40,281 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,740 | 3,601 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 15,899 | 14,052 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 310 | 592 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 300 | 304 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10 | 288 |
Owner Occupied Commercial Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,127 | 259 |
Owner Occupied Commercial Real Estate [Member] | Agricultural [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,127 | 259 |
Owner Occupied Commercial Real Estate [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,016 | |
Owner Occupied Commercial Real Estate [Member] | Wine & Craft Beverage [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,016 | |
Owner Occupied Commercial Real Estate [Member] | Self Storage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 167 | |
Owner Occupied Commercial Real Estate [Member] | Self Storage [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 167 | |
Commercial Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,264 | 1,248 |
Commercial Land [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,264 | 1,248 |
Commercial Land [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,264 | 1,248 |
Commercial Land [Member] | Agricultural [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 4,264 | $ 1,248 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses - Summary of Risk Grades of Each Category of Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 237,393 | $ 203,451 |
Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 196,323 | 162,434 |
Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,823 | 9,765 |
Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 33,247 | 31,252 |
Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 21,800 | 21,300 |
Loans Insured or Guaranteed by US Government Authorities [Member] | Risk Grades 1- 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Loans Insured or Guaranteed by US Government Authorities [Member] | Risk Grade 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 378 | 1,100 |
Loans Insured or Guaranteed by US Government Authorities [Member] | Risk Grades 6 - 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 21,500 | $ 20,200 |
Loans and Allowance for Loan 40
Loans and Allowance for Loan Losses - Summary of Age Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | $ 24,891 | $ 25,371 |
Current Loans | 212,502 | 178,080 |
Total Loans | 237,393 | 203,451 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,320 | 3,489 |
30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 5,230 | 6,679 |
30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,636 | 2,417 |
Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 15,705 | 12,786 |
Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 7,461 | 8,566 |
Current Loans | 82,752 | 72,491 |
Total Loans | 90,213 | 81,057 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 779 | 1,025 |
Commercial & Industrial [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,029 | 1,433 |
Commercial & Industrial [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 281 | 236 |
Commercial & Industrial [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 5,372 | 5,872 |
Commercial & Industrial [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 4,274 | 3,603 |
Total Loans | 4,274 | 3,603 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 488 | 333 |
Total Loans | 488 | 333 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,107 | 3,711 |
Current Loans | 10,357 | 8,608 |
Total Loans | 12,464 | 12,319 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Health Care [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 346 | 1,059 |
Commercial & Industrial [Member] | Health Care [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 135 | 232 |
Commercial & Industrial [Member] | Health Care [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,626 | 2,420 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,312 | 1,322 |
Current Loans | 35,067 | 32,757 |
Total Loans | 37,379 | 34,079 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 631 | 98 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 140 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,541 | 1,224 |
Commercial & Industrial [Member] | Registered Investment Advisors [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 14,312 | 9,660 |
Total Loans | 14,312 | 9,660 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 3,042 | 3,533 |
Current Loans | 18,028 | 17,369 |
Total Loans | 21,070 | 20,902 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 779 | 1,025 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 52 | 276 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 6 | 4 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,205 | 2,228 |
Commercial & Industrial [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 75 | |
Total Loans | 75 | |
Loans 90 Days or More Past Due & Still Accruing | 0 | |
Commercial & Industrial [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 151 | 161 |
Total Loans | 151 | 161 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 18,282 | 9,526 |
Total Loans | 18,282 | 9,526 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 484 | 92 |
Total Loans | 484 | 92 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 122 | |
Total Loans | 122 | |
Loans 90 Days or More Past Due & Still Accruing | 0 | |
Construction & Development [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 7,061 | 2,957 |
Total Loans | 7,061 | 2,957 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 483 | 215 |
Total Loans | 483 | 215 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 2,698 | 2,207 |
Total Loans | 2,698 | 2,207 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 159 | |
Total Loans | 159 | |
Loans 90 Days or More Past Due & Still Accruing | 0 | |
Construction & Development [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 183 | 145 |
Total Loans | 183 | 145 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Construction & Development [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 7,092 | 3,910 |
Total Loans | 7,092 | 3,910 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 17,430 | 16,805 |
Current Loans | 107,204 | 94,815 |
Total Loans | 124,634 | 111,620 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,541 | 2,464 |
Owner Occupied Commercial Real Estate [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 4,201 | 5,246 |
Owner Occupied Commercial Real Estate [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,355 | 2,181 |
Owner Occupied Commercial Real Estate [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 10,333 | 6,914 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,677 | 1,721 |
Current Loans | 17,833 | 17,158 |
Total Loans | 19,510 | 18,879 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,677 | 1,721 |
Owner Occupied Commercial Real Estate [Member] | Family Entertainment Centers [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,294 | 872 |
Total Loans | 1,294 | 872 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,429 | 2,457 |
Current Loans | 27,914 | 23,716 |
Total Loans | 30,343 | 26,173 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 181 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 145 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 24 | 230 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 2,224 | 2,082 |
Owner Occupied Commercial Real Estate [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 5,179 | 4,750 |
Total Loans | 5,179 | 4,750 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Registered Investment Advisors [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 2,463 | 2,161 |
Total Loans | 2,463 | 2,161 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Self Storage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 167 | |
Total Loans | 167 | |
Loans 90 Days or More Past Due & Still Accruing | 0 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 13,324 | 12,352 |
Current Loans | 47,901 | 45,582 |
Total Loans | 61,225 | 57,934 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Less Than 30 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,360 | 2,464 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | 30-89 Days Past Due & Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 4,201 | 5,101 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | 30-89 Days Past Due & Not Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 1,331 | 1,951 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 6,432 | 2,836 |
Owner Occupied Commercial Real Estate [Member] | Wine & Craft Beverage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 1,016 | |
Total Loans | 1,016 | |
Loans 90 Days or More Past Due & Still Accruing | 0 | |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 275 | |
Current Loans | 310 | 317 |
Total Loans | 310 | 592 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Not Accruing and Past Due Loans | 275 | |
Owner Occupied Commercial Real Estate [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 3,127 | 259 |
Total Loans | 3,127 | 259 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 4,264 | 1,248 |
Total Loans | 4,264 | 1,248 |
Loans 90 Days or More Past Due & Still Accruing | 0 | 0 |
Commercial Land [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 4,264 | 1,248 |
Total Loans | 4,264 | 1,248 |
Loans 90 Days or More Past Due & Still Accruing | $ 0 | $ 0 |
Loans and Allowance for Loan 41
Loans and Allowance for Loan Losses - Summary of Age Analysis of Past Due Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 237,393 | $ 203,451 |
Total Loans Past Due | 24,891 | 25,371 |
Current Loans | 212,502 | 178,080 |
Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 15,705 | 12,786 |
Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 21,800 | 21,300 |
Current Loans | 4,300 | 6,100 |
Loans Insured or Guaranteed by US Government Authorities [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | 14,100 | 11,700 |
Loans Insured or Guaranteed by US Government Authorities [Member] | 30-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Past Due | $ 3,500 | $ 3,500 |
Loans and Allowance for Loan 42
Loans and Allowance for Loan Losses - Schedule of Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | $ 19,661 | $ 18,692 |
Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 16,572 | 15,555 |
Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 3,089 | 3,137 |
Commercial & Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 6,432 | 7,133 |
Commercial & Industrial [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 5,931 | 6,620 |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 501 | 513 |
Commercial & Industrial [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,761 | 2,652 |
Commercial & Industrial [Member] | Health Care [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,586 | 2,368 |
Commercial & Industrial [Member] | Health Care [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 175 | 284 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,681 | 1,224 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,456 | 1,139 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 225 | 85 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 2,990 | 3,257 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 2,889 | 3,113 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 101 | 144 |
Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 13,229 | 11,559 |
Owner Occupied Commercial Real Estate [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 10,641 | 8,935 |
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 2,588 | 2,624 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 2,429 | 2,312 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,918 | 1,919 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 511 | 393 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 9,123 | 7,251 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 7,254 | 5,236 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,869 | 2,015 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,677 | 1,721 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 1,469 | 1,505 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | $ 208 | 216 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | 275 | |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | Small Business Administration [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans balance | $ 275 |
Loans and Allowance for Loan 43
Loans and Allowance for Loan Losses - Schedule of Allowance for Loan Losses by Portfolio Segment Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Allowance for Loan Losses: | |||||
Allowance for Loan Losses, Beginning Balance | $ 5,234 | $ 3,213 | $ 4,407 | [1] | $ 2,723 |
Allowance for Loan Losses, Charge offs | (228) | (127) | (479) | (127) | |
Allowance for Loan Losses, Recoveries | 127 | 7 | 128 | 73 | |
Allowance for Loan Losses, Provision | 50 | 475 | 1,127 | 899 | |
Allowance for Loan Losses, Ending Balance | 5,183 | 3,568 | 5,183 | 3,568 | |
Construction & Development [Member] | |||||
Allowance for Loan Losses: | |||||
Allowance for Loan Losses, Beginning Balance | 755 | 480 | 586 | 350 | |
Allowance for Loan Losses, Provision | 89 | (180) | 258 | (50) | |
Allowance for Loan Losses, Ending Balance | 844 | 300 | 844 | 300 | |
Owner Occupied Commercial Real Estate [Member] | |||||
Allowance for Loan Losses: | |||||
Allowance for Loan Losses, Beginning Balance | 2,062 | 1,921 | 2,291 | 1,511 | |
Allowance for Loan Losses, Charge offs | (42) | (119) | (121) | (119) | |
Allowance for Loan Losses, Recoveries | 87 | 5 | 88 | 67 | |
Allowance for Loan Losses, Provision | 239 | 124 | 88 | 472 | |
Allowance for Loan Losses, Ending Balance | 2,346 | 1,931 | 2,346 | 1,931 | |
Commercial & Industrial [Member] | |||||
Allowance for Loan Losses: | |||||
Allowance for Loan Losses, Beginning Balance | 2,063 | 812 | 1,369 | 862 | |
Allowance for Loan Losses, Charge offs | (186) | (8) | (358) | (8) | |
Allowance for Loan Losses, Recoveries | 40 | 2 | 40 | 6 | |
Allowance for Loan Losses, Provision | (264) | 506 | 602 | 452 | |
Allowance for Loan Losses, Ending Balance | 1,653 | 1,312 | 1,653 | 1,312 | |
Commercial Land [Member] | |||||
Allowance for Loan Losses: | |||||
Allowance for Loan Losses, Beginning Balance | 354 | 161 | |||
Allowance for Loan Losses, Provision | (14) | 25 | 179 | 25 | |
Allowance for Loan Losses, Ending Balance | $ 340 | $ 25 | $ 340 | $ 25 | |
[1] | Derived from audited financial statements. |
Loans and Allowance for Loan 44
Loans and Allowance for Loan Losses - Schedule of Recorded Allowance for Loan Losses and Investment in Loans Related to Each Portfolio Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Allowance for Loan Losses: | |||||||
Allowance for Loan Losses, Individually evaluated for impairment | $ 1,769 | $ 1,727 | |||||
Allowance for Loan Losses, Collectively evaluated for impairment | 3,414 | 2,680 | |||||
Total allowance for loan losses | 5,183 | $ 5,234 | 4,407 | [1] | $ 3,568 | $ 3,213 | $ 2,723 |
Loans Receivable : | |||||||
Loans Receivable, Individually evaluated for impairment | 25,717 | 26,777 | |||||
Loans Receivable, Collectively evaluated for impairment | 211,676 | 176,674 | |||||
Total loans receivable | 237,393 | 203,451 | |||||
Construction & Development [Member] | |||||||
Allowance for Loan Losses: | |||||||
Allowance for Loan Losses, Collectively evaluated for impairment | 844 | 586 | |||||
Total allowance for loan losses | 844 | 755 | 586 | 300 | 480 | 350 | |
Loans Receivable : | |||||||
Loans Receivable, Collectively evaluated for impairment | 18,282 | 9,526 | |||||
Total loans receivable | 18,282 | 9,526 | |||||
Owner Occupied Commercial Real Estate [Member] | |||||||
Allowance for Loan Losses: | |||||||
Allowance for Loan Losses, Individually evaluated for impairment | 1,092 | 1,051 | |||||
Allowance for Loan Losses, Collectively evaluated for impairment | 1,254 | 1,240 | |||||
Total allowance for loan losses | 2,346 | 2,062 | 2,291 | 1,931 | 1,921 | 1,511 | |
Loans Receivable : | |||||||
Loans Receivable, Individually evaluated for impairment | 16,694 | 16,551 | |||||
Loans Receivable, Collectively evaluated for impairment | 107,940 | 95,069 | |||||
Total loans receivable | 124,634 | 111,620 | |||||
Commercial & Industrial [Member] | |||||||
Allowance for Loan Losses: | |||||||
Allowance for Loan Losses, Individually evaluated for impairment | 677 | 676 | |||||
Allowance for Loan Losses, Collectively evaluated for impairment | 976 | 693 | |||||
Total allowance for loan losses | 1,653 | 2,063 | 1,369 | 1,312 | $ 812 | $ 862 | |
Loans Receivable : | |||||||
Loans Receivable, Individually evaluated for impairment | 9,023 | 10,226 | |||||
Loans Receivable, Collectively evaluated for impairment | 81,190 | 70,831 | |||||
Total loans receivable | 90,213 | 81,057 | |||||
Commercial Land [Member] | |||||||
Allowance for Loan Losses: | |||||||
Allowance for Loan Losses, Collectively evaluated for impairment | 340 | 161 | |||||
Total allowance for loan losses | 340 | $ 354 | 161 | $ 25 | |||
Loans Receivable : | |||||||
Loans Receivable, Collectively evaluated for impairment | 4,264 | 1,248 | |||||
Total loans receivable | $ 4,264 | $ 1,248 | |||||
[1] | Derived from audited financial statements. |
Loans and Allowance for Loan 45
Loans and Allowance for Loan Losses - Schedule of Recorded Allowance for Loan Losses and Investment in Loans Related to Each Portfolio Segment (Parenthetical) (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total loans receivable | $ 237,393 | $ 203,451 |
Loans Receivable, Individually evaluated for impairment | 25,717 | 26,777 |
Loans Receivable, Collectively evaluated for impairment | 211,676 | 176,674 |
Loans Insured or Guaranteed by US Government Authorities [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total loans receivable | 21,800 | 21,300 |
Loans Receivable, Individually evaluated for impairment | 20,300 | 19,500 |
Loans Receivable, Collectively evaluated for impairment | $ 1,600 | $ 2,000 |
Loans and Allowance for Loan 46
Loans and Allowance for Loan Losses - Summary of Loans Individually Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | $ 25,717 | $ 26,777 |
Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 20,271 | 19,496 |
Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 5,446 | 7,281 |
Commercial & Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 9,023 | 10,226 |
Commercial & Industrial [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 7,434 | 8,341 |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 1,589 | 1,885 |
Commercial & Industrial [Member] | Health Care [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 3,311 | 4,217 |
Commercial & Industrial [Member] | Health Care [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 2,746 | 3,540 |
Commercial & Industrial [Member] | Health Care [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 565 | 677 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 2,492 | 2,203 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 1,799 | 1,492 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 693 | 711 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 3,220 | 3,806 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 2,889 | 3,309 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 331 | 497 |
Owner Occupied Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 16,694 | 16,551 |
Owner Occupied Commercial Real Estate [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 12,837 | 11,155 |
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 3,857 | 5,396 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 2,429 | 2,312 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 1,919 | 1,919 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 510 | 393 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 12,588 | 12,243 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 9,449 | 7,456 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 3,139 | 4,787 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 1,677 | 1,721 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 1,469 | 1,505 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Unguaranteed Loan Exposure [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | $ 208 | 216 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | 275 | |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | Small Business Administration [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired loans, Unpaid Principal Balance | $ 275 |
Loans and Allowance for Loan 47
Loans and Allowance for Loan Losses - Schedule of Evaluated Balances of Loans Classified as Impaired (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | $ 1,020 | $ 1,051 | $ 1,020 | $ 1,051 | $ 1,213 |
Loans, Unpaid Principal Balance | 25,717 | 18,448 | 25,717 | 18,448 | 26,777 |
Loans with no allowance, Recorded Investment | 1,008 | 1,037 | 1,008 | 1,037 | 1,197 |
Loans, Recorded Investment | 25,657 | 18,597 | 25,657 | 18,597 | 25,002 |
Loans with no allowance, Average Recorded Investment | 2,852 | 6,220 | 2,428 | 3,680 | 1,998 |
Loans with no allowance, Interest Income Recognized | 7 | 8 | 12 | 26 | 113 |
Loans with an allowance, Unpaid Principal Balance | 24,697 | 17,397 | 24,697 | 17,397 | 25,564 |
Loans with an allowance, Recorded Investment | 24,649 | 17,560 | 24,649 | 17,560 | 23,805 |
Loans with an allowance, Total Reserve | 1,769 | 436 | 1,769 | 436 | 1,727 |
Loans with an allowance, Average Recorded Investment | 24,533 | 11,774 | 23,686 | 13,920 | 20,076 |
Loans, Average Recorded Investment | 27,385 | 17,994 | 26,114 | 17,600 | 22,074 |
Loans with an allowance, Interest Income Recognized | 87 | 101 | 159 | 183 | 361 |
Loans, Interest Income Recognized | 94 | 109 | 171 | 209 | 474 |
Commercial & Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 331 | 211 | 331 | 211 | 239 |
Loans with no allowance, Recorded Investment | 327 | 208 | 327 | 208 | 237 |
Loans with no allowance, Average Recorded Investment | 1,622 | 3,690 | 1,000 | 1,919 | 363 |
Loans with no allowance, Interest Income Recognized | 5 | 3 | 8 | 11 | 64 |
Loans with an allowance, Unpaid Principal Balance | 8,693 | 6,374 | 8,693 | 6,374 | 9,987 |
Loans with an allowance, Recorded Investment | 8,686 | 6,462 | 8,686 | 6,462 | 9,747 |
Loans with an allowance, Total Reserve | 677 | 245 | 677 | 245 | 676 |
Loans with an allowance, Average Recorded Investment | 8,313 | 3,444 | 8,652 | 4,403 | 6,583 |
Loans with an allowance, Interest Income Recognized | 38 | 24 | 73 | 40 | 97 |
Commercial & Industrial [Member] | Health Care [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 97 | 91 | 97 | 91 | 3 |
Loans with no allowance, Recorded Investment | 95 | 89 | 95 | 89 | 3 |
Loans with no allowance, Average Recorded Investment | 352 | 705 | 224 | 373 | 88 |
Loans with no allowance, Interest Income Recognized | 1 | 1 | 1 | 1 | 2 |
Loans with an allowance, Unpaid Principal Balance | 3,213 | 2,148 | 3,213 | 2,148 | 4,214 |
Loans with an allowance, Recorded Investment | 3,215 | 2,183 | 3,215 | 2,183 | 4,202 |
Loans with an allowance, Total Reserve | 298 | 8 | 298 | 8 | 361 |
Loans with an allowance, Average Recorded Investment | 2,968 | 2,831 | 3,310 | 2,210 | 3,333 |
Loans with an allowance, Interest Income Recognized | 24 | 47 | 38 | ||
Commercial & Industrial [Member] | Independent Pharmacies [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 191 | 191 | 194 | ||
Loans with no allowance, Recorded Investment | 190 | 190 | 194 | ||
Loans with no allowance, Average Recorded Investment | 1,150 | 618 | 86 | ||
Loans with no allowance, Interest Income Recognized | 2 | 5 | 57 | ||
Loans with an allowance, Unpaid Principal Balance | 2,303 | 372 | 2,303 | 372 | 2,009 |
Loans with an allowance, Recorded Investment | 2,299 | 371 | 2,299 | 371 | 2,005 |
Loans with an allowance, Total Reserve | 345 | 137 | 345 | 137 | 206 |
Loans with an allowance, Average Recorded Investment | 2,601 | 2,166 | 621 | ||
Loans with an allowance, Interest Income Recognized | 11 | 17 | 20 | 17 | 17 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 43 | 120 | 43 | 120 | 42 |
Loans with no allowance, Recorded Investment | 42 | 119 | 42 | 119 | 40 |
Loans with no allowance, Average Recorded Investment | 120 | 2,985 | 158 | 1,546 | 189 |
Loans with no allowance, Interest Income Recognized | 2 | 2 | 2 | 10 | 5 |
Loans with an allowance, Unpaid Principal Balance | 3,177 | 3,854 | 3,177 | 3,854 | 3,764 |
Loans with an allowance, Recorded Investment | 3,172 | 3,908 | 3,172 | 3,908 | 3,540 |
Loans with an allowance, Total Reserve | 34 | 100 | 34 | 100 | 109 |
Loans with an allowance, Average Recorded Investment | 2,744 | 613 | 3,176 | 2,193 | 2,629 |
Loans with an allowance, Interest Income Recognized | 3 | 7 | 6 | 23 | 42 |
Construction & Development [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with an allowance, Unpaid Principal Balance | 1,996 | 1,996 | |||
Loans with an allowance, Recorded Investment | 1,997 | 1,997 | |||
Loans with an allowance, Total Reserve | 12 | 12 | |||
Loans with an allowance, Average Recorded Investment | 2,952 | 1,476 | |||
Loans with an allowance, Interest Income Recognized | 32 | 67 | |||
Construction & Development [Member] | Veterinary Industry [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with an allowance, Unpaid Principal Balance | 1,996 | 1,996 | |||
Loans with an allowance, Recorded Investment | 1,997 | 1,997 | |||
Loans with an allowance, Total Reserve | 12 | 12 | |||
Loans with an allowance, Average Recorded Investment | 2,952 | 1,476 | |||
Loans with an allowance, Interest Income Recognized | 32 | 67 | |||
Owner Occupied Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 689 | 840 | 689 | 840 | 974 |
Loans with no allowance, Recorded Investment | 681 | 829 | 681 | 829 | 960 |
Loans with no allowance, Average Recorded Investment | 1,230 | 2,530 | 1,428 | 1,761 | 1,635 |
Loans with no allowance, Interest Income Recognized | 2 | 5 | 4 | 15 | 49 |
Loans with an allowance, Unpaid Principal Balance | 16,004 | 9,027 | 16,004 | 9,027 | 15,577 |
Loans with an allowance, Recorded Investment | 15,963 | 9,101 | 15,963 | 9,101 | 14,058 |
Loans with an allowance, Total Reserve | 1,092 | 179 | 1,092 | 179 | 1,051 |
Loans with an allowance, Average Recorded Investment | 16,220 | 5,378 | 15,034 | 8,041 | 13,493 |
Loans with an allowance, Interest Income Recognized | 49 | 45 | 86 | 77 | 264 |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Average Recorded Investment | 66 | ||||
Loans with an allowance, Unpaid Principal Balance | 1,677 | 1,677 | 1,721 | ||
Loans with an allowance, Recorded Investment | 1,675 | 1,675 | 1,720 | ||
Loans with an allowance, Total Reserve | 11 | 11 | 20 | ||
Loans with an allowance, Average Recorded Investment | 1,418 | 1,475 | 414 | ||
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 166 | 166 | 41 | ||
Loans with no allowance, Recorded Investment | 164 | 164 | 41 | ||
Loans with no allowance, Average Recorded Investment | 143 | 146 | 147 | ||
Loans with an allowance, Unpaid Principal Balance | 2,263 | 1,127 | 2,263 | 1,127 | 2,271 |
Loans with an allowance, Recorded Investment | 2,260 | 1,152 | 2,260 | 1,152 | 2,268 |
Loans with an allowance, Total Reserve | 78 | 2 | 78 | 2 | 82 |
Loans with an allowance, Average Recorded Investment | 2,359 | 1,054 | 2,173 | 1,054 | 1,967 |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no allowance, Unpaid Principal Balance | 523 | 840 | 523 | 840 | 933 |
Loans with no allowance, Recorded Investment | 517 | 829 | 517 | 829 | 919 |
Loans with no allowance, Average Recorded Investment | 1,087 | 2,530 | 1,282 | 1,761 | 1,422 |
Loans with no allowance, Interest Income Recognized | 2 | 5 | 4 | 15 | 49 |
Loans with an allowance, Unpaid Principal Balance | 12,064 | 7,900 | 12,064 | 7,900 | 11,310 |
Loans with an allowance, Recorded Investment | 12,028 | 7,949 | 12,028 | 7,949 | 9,796 |
Loans with an allowance, Total Reserve | 1,003 | 177 | 1,003 | 177 | 947 |
Loans with an allowance, Average Recorded Investment | 12,443 | 4,324 | 11,386 | 6,987 | 11,036 |
Loans with an allowance, Interest Income Recognized | $ 49 | $ 45 | $ 86 | $ 77 | 264 |
Owner Occupied Commercial Real Estate [Member] | Other Industries [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with an allowance, Unpaid Principal Balance | 275 | ||||
Loans with an allowance, Recorded Investment | 274 | ||||
Loans with an allowance, Total Reserve | 2 | ||||
Loans with an allowance, Average Recorded Investment | $ 76 |
Loans and Allowance for Loan 48
Loans and Allowance for Loan Losses - Summary of Types of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2014USD ($)SecurityLoan | Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 3 | 4 | 6 |
Loan Balance | $ 380 | $ 157 | $ 380 |
Unguaranteed Loan Exposure [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | $ 380 | $ 157 | $ 380 |
Commercial & Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 2 | 3 | 5 |
Loan Balance | $ 372 | $ 133 | $ 372 |
Commercial & Industrial [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 3 | ||
Loan Balance | $ 133 | ||
Commercial & Industrial [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 3 | ||
Loan Balance | $ 133 | ||
Commercial & Industrial [Member] | Independent Pharmacies [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 2 | 2 | |
Loan Balance | $ 372 | $ 372 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Extend Amortization [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 2 | 2 | |
Loan Balance | $ 372 | $ 372 | |
Commercial & Industrial [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 3 | ||
Loan Balance | 216 | $ 216 | |
Commercial & Industrial [Member] | Veterinary Industry [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 3 | ||
Loan Balance | 216 | $ 216 | |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 372 | 133 | 372 |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 133 | ||
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | $ 133 | ||
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Independent Pharmacies [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 372 | 372 | |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Independent Pharmacies [Member] | Extend Amortization [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 372 | 372 | |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 216 | 216 | |
Commercial & Industrial [Member] | Unguaranteed Loan Exposure [Member] | Veterinary Industry [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | $ 216 | $ 216 | |
Owner Occupied Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | 1 | 1 |
Loan Balance | $ 8 | $ 24 | $ 8 |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | ||
Loan Balance | $ 24 | ||
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | ||
Loan Balance | $ 24 | ||
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | 1 | |
Loan Balance | $ 8 | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | 1 | |
Loan Balance | $ 8 | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | SecurityLoan | 1 | ||
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 8 | 24 | $ 8 |
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 24 | ||
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | $ 24 | ||
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | 8 | 8 | |
Owner Occupied Commercial Real Estate [Member] | Unguaranteed Loan Exposure [Member] | Veterinary Industry [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Loan Balance | $ 8 | $ 8 |
Loans and Allowance for Loan 49
Loans and Allowance for Loan Losses - Summary of Recorded Investment in TDR Loans (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2014SecurityLoan | Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | |
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 3 | 4 | 6 |
TDR loans, Pre-modification Recorded Investment | $ 270 | $ 606 | |
TDR loans, Post-modification Recorded Investment | $ 157 | $ 596 | |
Commercial & Industrial [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 2 | 3 | 5 |
TDR loans, Pre-modification Recorded Investment | $ 229 | $ 598 | |
TDR loans, Post-modification Recorded Investment | $ 133 | $ 588 | |
Commercial & Industrial [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 3 | ||
TDR loans, Pre-modification Recorded Investment | $ 229 | ||
TDR loans, Post-modification Recorded Investment | $ 133 | ||
Commercial & Industrial [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 3 | ||
TDR loans, Pre-modification Recorded Investment | $ 229 | ||
TDR loans, Post-modification Recorded Investment | $ 133 | ||
Commercial & Industrial [Member] | Independent Pharmacies [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 2 | 2 | |
TDR loans, Pre-modification Recorded Investment | $ 379 | ||
TDR loans, Post-modification Recorded Investment | $ 372 | ||
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Extend Amortization [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 2 | 2 | |
TDR loans, Pre-modification Recorded Investment | $ 379 | ||
TDR loans, Post-modification Recorded Investment | $ 372 | ||
Commercial & Industrial [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 3 | ||
TDR loans, Pre-modification Recorded Investment | $ 219 | ||
TDR loans, Post-modification Recorded Investment | $ 216 | ||
Commercial & Industrial [Member] | Veterinary Industry [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 3 | ||
TDR loans, Pre-modification Recorded Investment | $ 219 | ||
TDR loans, Post-modification Recorded Investment | $ 216 | ||
Owner Occupied Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | 1 | 1 |
TDR loans, Pre-modification Recorded Investment | $ 41 | $ 8 | |
TDR loans, Post-modification Recorded Investment | $ 24 | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | ||
TDR loans, Pre-modification Recorded Investment | $ 41 | ||
TDR loans, Post-modification Recorded Investment | $ 24 | ||
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | ||
TDR loans, Pre-modification Recorded Investment | $ 41 | ||
TDR loans, Post-modification Recorded Investment | $ 24 | ||
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | 1 | |
TDR loans, Pre-modification Recorded Investment | $ 8 | ||
TDR loans, Post-modification Recorded Investment | $ 8 | ||
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Interest Only [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | 1 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Payment Deferral [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of TDR Loans | SecurityLoan | 1 | ||
TDR loans, Pre-modification Recorded Investment | $ 8 | ||
TDR loans, Post-modification Recorded Investment | $ 8 |
Loans and Allowance for Loan 50
Loans and Allowance for Loan Losses - Summary of Modified TDR Loan (Detail) $ in Thousands | 12 Months Ended | |
Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 8 | 6 |
Post-modification, Recorded Investment | $ | $ 2,136 | $ 596 |
No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 6 | |
Post-modification, Recorded Investment | $ | $ 596 | |
Total TDRs Paying as Restructured [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | 6 |
Post-modification, Recorded Investment | $ | $ 165 | $ 596 |
Owner Occupied Commercial Real Estate [Member] | Default (Charge-Off) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 2 | |
Post-modification, Recorded Investment | $ | $ 1,675 | |
Owner Occupied Commercial Real Estate [Member] | Default (NonAccrual) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 24 | |
Owner Occupied Commercial Real Estate [Member] | No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Default (Charge-Off) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 1,675 | |
Owner Occupied Commercial Real Estate [Member] | Death Care Management [Member] | Default (Charge-Off) [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 1,675 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Default (Charge-Off) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | Default (Charge-Off) [Member] | Interest Only [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Veterinary Industry [Member] | No Defaults (Paying as Restructured) [Member] | Interest Only [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 8 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Default (NonAccrual) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 24 | |
Owner Occupied Commercial Real Estate [Member] | Health Care [Member] | Default (NonAccrual) [Member] | Interest Only [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 24 | |
Commercial & Industrial [Member] | Default (NonAccrual) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 4 | |
Post-modification, Recorded Investment | $ | $ 272 | |
Commercial & Industrial [Member] | No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | 5 |
Post-modification, Recorded Investment | $ | $ 165 | $ 588 |
Commercial & Industrial [Member] | Veterinary Industry [Member] | No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 3 | |
Post-modification, Recorded Investment | $ | $ 216 | |
Commercial & Industrial [Member] | Veterinary Industry [Member] | No Defaults (Paying as Restructured) [Member] | Payment Deferral [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 3 | |
Post-modification, Recorded Investment | $ | $ 216 | |
Commercial & Industrial [Member] | Health Care [Member] | Default (NonAccrual) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 3 | |
Post-modification, Recorded Investment | $ | $ 133 | |
Commercial & Industrial [Member] | Health Care [Member] | Default (NonAccrual) [Member] | Interest Only [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 3 | |
Post-modification, Recorded Investment | $ | $ 133 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Default (NonAccrual) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 139 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | Default (NonAccrual) [Member] | Interest Only [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | |
Post-modification, Recorded Investment | $ | $ 139 | |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | No Defaults (Paying as Restructured) [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | 2 |
Post-modification, Recorded Investment | $ | $ 165 | $ 372 |
Commercial & Industrial [Member] | Independent Pharmacies [Member] | No Defaults (Paying as Restructured) [Member] | Extend Amortization [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-modification, Number of Loans | 1 | 2 |
Post-modification, Recorded Investment | $ | $ 165 | $ 372 |
Servicing Assets - Additional I
Servicing Assets - Additional Information (Detail) - USD ($) $ in Billions | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Servicing Assets at Fair Value [Line Items] | |||
Unpaid principal balances of loan serviced for others | $ 1.5 | $ 1.3 | |
Minimum [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Fair value of servicing rights, discount rates | 7.05% | 7.46% | |
Fair value of servicing rights, prepayment rates | 4.19% | 4.53% | |
Maximum [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Fair value of servicing rights, discount rates | 12.40% | 13.27% | |
Fair value of servicing rights, prepayment rates | 9.57% | 8.79% |
Servicing Assets - Summary of A
Servicing Assets - Summary of Activity Pertaining to Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Servicing Asset at Fair Value, Amount [Roll Forward] | |||||
Balance at beginning of period | $ 38,457 | $ 30,518 | $ 34,999 | [1] | $ 29,053 |
Additions, net | 3,373 | 2,666 | 6,709 | 4,751 | |
Changes in fair value | (1,847) | (3) | (1,725) | (623) | |
Balance at end of period | $ 39,983 | $ 33,181 | $ 39,983 | $ 33,181 | |
[1] | Derived from audited financial statements. |
Borrowings - Schedule of Total
Borrowings - Schedule of Total Outstanding Short and Long-Term Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 14, 2014 | Sep. 18, 2014 | May. 12, 2014 | Apr. 30, 2011 | ||
Short term borrowings | ||||||||
Total short term borrowings | [1] | $ 6,100 | ||||||
Long term borrowings | ||||||||
Total long term borrowings | $ 54,490 | 41,849 | [1] | |||||
Small Business Lending Fund Program [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 6,800 | 6,800 | $ 6,800 | |||||
Promissory Note [Member] | Independence Aviation LLC [Member] | ||||||||
Long term borrowings | ||||||||
Notes payable | 5,702 | 5,842 | $ 6,000 | |||||
Construction Line of Credit [Member] | Tiburon Drive [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 24,000 | 16,914 | ||||||
Notes Payable to Banks [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 5,000 | 5,000 | $ 5,000 | |||||
Notes Payable to Banks [Member] | Live Oak Banking Company [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 7,210 | 7,210 | ||||||
Loans Payable [Member] | Independence Aviation LLC [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 1,182 | |||||||
Secured Borrowing [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit | 4,575 | |||||||
Gls Partner Notes payable [Member] | GLS Partner [Member] | ||||||||
Long term borrowings | ||||||||
Line of credit facility, amount used for acquisition | $ 21 | 83 | ||||||
Line of Credit [Member] | ||||||||
Short term borrowings | ||||||||
Total short term borrowings | $ 6,100 | $ 6,100 | ||||||
[1] | Derived from audited financial statements. |
Borrowings - Schedule of Tota54
Borrowings - Schedule of Total Outstanding Short and Long-Term Borrowings (Parenthetical) (Detail) | Mar. 10, 2015USD ($) | Feb. 23, 2015 | Sep. 18, 2014USD ($)shares | Sep. 11, 2014USD ($) | Aug. 01, 2014USD ($) | May. 12, 2014USD ($) | Sep. 01, 2013USD ($) | Apr. 30, 2011USD ($) | Jun. 30, 2015USD ($)RelatedParty | Dec. 31, 2014USD ($) | Dec. 14, 2014USD ($) | |
Debt Instrument [Line Items] | ||||||||||||
Total short term borrowings | [1] | $ 6,100,000 | ||||||||||
Line of credit facility description | prime plus 1% | |||||||||||
Total short term borrowings | [1] | 6,100,000 | ||||||||||
Debt instrument term | 60 months | |||||||||||
Notes Payable to Banks [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit, maximum borrowing capacity | $ 8,100,000 | |||||||||||
Line of credit | $ 5,000,000 | 5,000,000 | $ 5,000,000 | |||||||||
Line of credit facility, interest rate description | LIBOR plus 3.50% | |||||||||||
Debt instrument term | 36 months | |||||||||||
Debt instrument, maturity date | Sep. 18, 2017 | |||||||||||
Remaining available credit facility | $ 3,100,000 | |||||||||||
Secured Borrowing [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit facility description | prime plus 1% | |||||||||||
Line of credit | $ 4,575,000 | |||||||||||
Debt instrument term | 60 months | |||||||||||
Debt instrument, maturity date | Oct. 5, 2019 | |||||||||||
Fair value of pledged collateral securities | $ 4,600,000 | |||||||||||
Live Oak Banking Company [Member] | Notes Payable to Banks [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit, maximum borrowing capacity | $ 15,000,000 | |||||||||||
Line of credit | $ 7,210,000 | 7,210,000 | ||||||||||
Line of credit secured by common stock, percentage | 100.00% | |||||||||||
Line of credit facility, interest rate description | LIBOR plus 4.00% | |||||||||||
Debt instrument term | 36 months | |||||||||||
Debt instrument, maturity date | Aug. 1, 2017 | |||||||||||
Remaining available credit facility | $ 7,800,000 | |||||||||||
Third Party Financial Institution [Member] | Secured Borrowing [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Number of related parties transferred | RelatedParty | 2 | |||||||||||
Exchange amount of related party transaction | $ 4,700,000 | |||||||||||
GLS Partner [Member] | Gls Partner Notes payable [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit, current | $ 250,000 | |||||||||||
Debt instrument term | 24 months | |||||||||||
Line of credit facility, periodic payment | $ 10,000 | |||||||||||
Tiburon Drive [Member] | Construction Line of Credit [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit, maximum borrowing capacity | $ 24,000,000 | |||||||||||
Debt instrument, offered date | Sep. 11, 2016 | |||||||||||
Line of credit | $ 24,000,000 | 16,914,000 | ||||||||||
Debt instrument, fixed interest rate | 3.95% | |||||||||||
Debt instrument term | 84 months | |||||||||||
Line of credit facility, monthly principal and interest payments, beginning date | Oct. 31, 2016 | |||||||||||
Principal and accrued interest payments | $ 146,000 | |||||||||||
Debt instrument, maturity date | Sep. 11, 2021 | |||||||||||
Remaining available credit facility | $ 0 | |||||||||||
Line of Credit [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Total short term borrowings | $ 6,100,000 | 6,100,000 | ||||||||||
Debt instrument, offered date | Sep. 18, 2015 | |||||||||||
Total short term borrowings | $ 6,100,000 | $ 6,100,000 | ||||||||||
Line of credit secured by common stock | shares | 1,900,000 | |||||||||||
Debt instrument, interest rate effective percentage | 0.16% | |||||||||||
Debt instrument term | 12 months | |||||||||||
Debt instrument, maturity date | Feb. 23, 2015 | |||||||||||
Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument, interest accrual period | 30 days | |||||||||||
Debt instrument, basis spread | 3.50% | |||||||||||
Independence Aviation LLC [Member] | Promissory Note [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Notes payable | $ 6,000,000 | $ 5,702,000 | $ 5,842,000 | |||||||||
Debt instrument, fixed interest rate | 4.97% | |||||||||||
Debt instrument term | 59 months | |||||||||||
Debt instrument, periodic payments | $ 48,000 | |||||||||||
Debt instrument, maturity date | May 12, 2019 | |||||||||||
Independence Aviation LLC [Member] | Loans Payable [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument, face amount | $ 1,200,000 | |||||||||||
Line of credit | $ 1,182,000 | |||||||||||
Debt instrument, fixed interest rate | 4.96% | |||||||||||
Debt instrument term | 51 months | |||||||||||
Line of credit facility, periodic payment | $ 9,000 | |||||||||||
Debt instrument, maturity date | Jun. 10, 2019 | |||||||||||
Small Business Lending Fund Program [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit | $ 6,800,000 | $ 6,800,000 | $ 6,800,000 | |||||||||
Debt instrument, interest rate effective percentage range, minimum | 1.50% | |||||||||||
Debt instrument, interest rate effective percentage range, maximum | 10.80% | |||||||||||
Debt instrument, interest rate effective percentage | 1.50% | |||||||||||
Debt instrument, maturity date | Sep. 13, 2021 | |||||||||||
Small Business Lending Fund Program [Member] | Minimum [Member] | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Debt instrument, partial interest rate | 25.00% | |||||||||||
[1] | Derived from audited financial statements. |
Fair Value of Financial Instr55
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | [1] |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Investment at current market value | $ 50,719 | $ 49,318 | ||
Investment transferred from Level 1 to Level 2 | 1,900 | |||
Mutual Fund [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Investment at current market value | $ 1,904 | $ 1,900 | ||
[1] | Derived from audited financial statements. |
Fair Value of Financial Instr56
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Servicing assets | $ 39,983 | $ 38,457 | $ 34,999 | [1] | $ 33,181 | $ 30,518 | $ 29,053 |
Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Servicing assets | 39,983 | 34,999 | |||||
Recurring Fair Value [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Servicing assets | 39,983 | 34,999 | |||||
Total assets at fair value | 90,702 | 84,317 | |||||
Recurring Fair Value [Member] | US Government Agencies [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 35,424 | 35,309 | |||||
Recurring Fair Value [Member] | Residential Mortgage Backed Securities [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 13,391 | 14,009 | |||||
Recurring Fair Value [Member] | Mutual Fund [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 1,904 | ||||||
Recurring Fair Value [Member] | Level 2 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Total assets at fair value | 50,719 | 49,318 | |||||
Recurring Fair Value [Member] | Level 2 [Member] | US Government Agencies [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 35,424 | 35,309 | |||||
Recurring Fair Value [Member] | Level 2 [Member] | Residential Mortgage Backed Securities [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 13,391 | 14,009 | |||||
Recurring Fair Value [Member] | Level 2 [Member] | Mutual Fund [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Investment securities available-for-sale | 1,904 | ||||||
Recurring Fair Value [Member] | Level 3 [Member] | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||
Servicing assets | 39,983 | 34,999 | |||||
Total assets at fair value | $ 39,983 | $ 34,999 | |||||
[1] | Derived from audited financial statements. |
Fair Value of Financial Instr57
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Non-recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | $ 25,657 | $ 25,002 | $ 18,597 | |
Foreclosed assets | 34 | 371 | [1] | |
Non-recurring Fair Value [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 22,991 | 24,016 | ||
Foreclosed assets | 34 | 371 | ||
Total assets at fair value | 23,025 | 24,387 | ||
Non-recurring Fair Value [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Impaired loans | 22,991 | 24,016 | ||
Foreclosed assets | 34 | 371 | ||
Total assets at fair value | $ 23,025 | $ 24,387 | ||
[1] | Derived from audited financial statements. |
Fair Value of Financial Instr58
Fair Value of Financial Instruments - Unobservable Inputs Used in Level 3 Assets and Liabilities Measured at Fair Value on Recurring or Non-recurring Basis (Detail) - Level 3 [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 22,991 | $ 24,016 |
Valuation Technique | Discounted appraisals Discounted expected cash flows | |
Unobservable Inputs | Appraisal adjustments Interest rate & repayment term | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 10.00% | 10.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 20.00% | 20.00% |
Impaired Loans [Member] | Weighted Average [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 4.86% | 4.88% |
Foreclosed Assets [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value | $ 34 | $ 371 |
Valuation Technique | Discounted appraisals | |
Unobservable Inputs | Appraisal adjustments | |
Foreclosed Assets [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 10.00% | 10.00% |
Foreclosed Assets [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair value inputs discount rate range | 20.00% | 20.00% |
Fair Value of Financial Instr59
Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | ||
Financial assets | ||||||||
Cash and due from banks, Carrying Amount | $ 131,487 | $ 29,902 | [1] | $ 54,409 | $ 37,244 | |||
Cash and due from banks, Fair Value | 131,487 | 29,902 | ||||||
Certificates of deposit with other banks, Carrying Amount | 10,000 | 10,000 | [1] | |||||
Certificates of deposit with other banks, Fair Value | 9,931 | 9,861 | ||||||
Investment securities, available for sale | 50,719 | 49,318 | [1] | |||||
Loans held for sale, Carrying Amount | 356,481 | 295,180 | [1] | |||||
Loans held for sale, Fair Value | 367,504 | 304,504 | ||||||
Loans, net of allowance for loan losses, Carrying Amount | 232,429 | 199,529 | [1] | |||||
Loans, net of allowance for loan losses, Fair Value | 226,429 | 194,007 | ||||||
Servicing assets | 39,983 | $ 38,457 | 34,999 | [1] | $ 33,181 | $ 30,518 | $ 29,053 | |
Accrued interest receivable, Carrying Amount | 4,228 | 3,059 | ||||||
Accrued interest receivable, Fair Value | 4,228 | 3,059 | ||||||
Financial liabilities | ||||||||
Deposits, Carrying Amount | 727,346 | 522,080 | [1] | |||||
Deposits, Fair Value | 724,160 | 522,058 | ||||||
Accrued interest payable, Carrying Amount | 201 | 190 | ||||||
Accrued interest payable, Fair Value | 201 | 190 | ||||||
Short term borrowings, Carrying Amount | [1] | 6,100 | ||||||
Short term borrowings, Fair Value | 6,100 | |||||||
Long term borrowings, Carrying Amount | 54,490 | 41,849 | [1] | |||||
Long term borrowings, Fair Value | 57,372 | 44,738 | ||||||
Level 1 [Member] | ||||||||
Financial assets | ||||||||
Cash and due from banks, Fair Value | 131,487 | 29,902 | ||||||
Certificates of deposit with other banks, Fair Value | 9,931 | 9,861 | ||||||
Accrued interest receivable, Fair Value | 4,228 | 3,059 | ||||||
Financial liabilities | ||||||||
Accrued interest payable, Fair Value | 201 | 190 | ||||||
Level 2 [Member] | ||||||||
Financial assets | ||||||||
Investment securities, available for sale | 50,719 | 49,318 | ||||||
Financial liabilities | ||||||||
Deposits, Fair Value | 724,160 | 522,058 | ||||||
Level 3 [Member] | ||||||||
Financial assets | ||||||||
Loans held for sale, Fair Value | 367,504 | 304,504 | ||||||
Loans, net of allowance for loan losses, Fair Value | 226,429 | 194,007 | ||||||
Servicing assets | 39,983 | 34,999 | ||||||
Financial liabilities | ||||||||
Short term borrowings, Fair Value | 6,100 | |||||||
Long term borrowings, Fair Value | $ 57,372 | $ 44,738 | ||||||
[1] | Derived from audited financial statements. |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Commitments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Total unfunded off-balance sheet credit risk | $ 696,757 | $ 538,401 |
Commitments to Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Total unfunded off-balance sheet credit risk | 696,357 | 537,951 |
Short-term Debt [Member] | Plexus Capital - Fund II Investment Commitment [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Total unfunded off-balance sheet credit risk | 100 | 100 |
Short-term Debt [Member] | Plexus Capital - Fund III Investment Commitment [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Total unfunded off-balance sheet credit risk | $ 300 | $ 350 |
Commitments and Contingencies61
Commitments and Contingencies - Additional Information (Detail) - Jun. 30, 2015 - USD ($) | Total |
Commitment And Contingencies [Line Items] | |
Commitment letters expiration period | 90 days |
Maximum retained credit exposure | $ 2,000,000 |
Standby Letters of Credit [Member] | |
Commitment And Contingencies [Line Items] | |
Standby letters of credit | $ 0 |
Stock Plans - Additional Inform
Stock Plans - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 20, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock option based compensation expense | $ 177 | $ 42 | $ 295 | $ 79 | |
Restricted stock expense | 8 | $ 19 | 16 | $ 162 | |
Unrecognized compensation costs, stock options | 4,400 | $ 4,400 | |||
Risk free interest rate | 1.65% | ||||
Expected dividend yield | 1.75% | ||||
Expected volatility | 43.61% | ||||
Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Expected average life | 4 years | ||||
Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Expected average life | 7 years | ||||
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unrecognized compensation costs period recognized | 3 years 11 months 16 days | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unrecognized compensation costs period recognized | 1 year 3 months 15 days | ||||
Unrecognized compensation costs | $ 78 | $ 78 | |||
2015 Omnibus Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of common voting shares authorized | 4,300,000 | ||||
Expiration date | Mar. 20, 2025 | ||||
Options or restricted shares of expiration period | 10 years | ||||
Percentage of fair market value of common stock | 100.00% | ||||
Option vesting period | 3 years |
Stock Plans - Summary of Stock
Stock Plans - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Outstanding, Beginning balance | 1,737,570 | 225,000 |
Shares, Exercised | 34,930 | 174,990 |
Shares, Forfeited | 66,319 | 21,480 |
Shares, Granted | 636,505 | 1,550,000 |
Shares, Outstanding, Ending balance | 2,272,826 | 1,578,530 |
Shares, Exercisable | 149,258 | 16,680 |
Weighted Average Exercise Price, Outstanding, Beginning balance | $ 5.51 | $ 1.01 |
Weighted Average Exercise Price, Exercised | 4.40 | 0.87 |
Weighted Average Exercise Price, Forfeited | 4.88 | 4.40 |
Weighted Average Exercise Price, Granted | 11.70 | 4.40 |
Weighted Average Exercise Price, Outstanding, Ending balance | 7.28 | 4.31 |
Weighted Average Exercise Price, Exercisable | $ 3.76 | $ 1.50 |
Weighted Average Remaining Contractual Term, Outstanding | 9 years 11 days | 9 years 7 months 28 days |
Weighted Average Remaining Contractual Term, Exercisable | 8 years 2 months 12 days | 6 years 10 months 28 days |
Aggregate Intrinsic Value, Outstanding, Ending balance | $ 15,277,131 | $ 1,442,290 |
Aggregate Intrinsic Value, Exercisable | $ 1,528,763 | $ 483,630 |
Stock Plans - Summary of Non-ve
Stock Plans - Summary of Non-vested Stock Option Activity (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares, Non-vested, Beginning balance | 1,704,230 | |
Shares, Granted | 636,505 | 1,550,000 |
Shares, Vested | 115,918 | |
Shares, Exercised | 34,930 | |
Shares, Forfeited | 66,319 | |
Shares, Non-vested, Ending balance | 2,123,568 | |
Weighted Average Grant Date Fair Value, Non-vested, Beginning balance | $ 1.18 | |
Weighted Average Grant Date Fair Value, Granted | 4.59 | |
Weighted Average Grant Date Fair Value, Vested | 0.53 | |
Weighted Average Grant Date Fair Value, Exercised | 0.58 | |
Weighted Average Grant Date Fair Value, Forfeited | 0.83 | |
Weighted Average Grant Date Fair Value, Non-vested, Ending balance | $ 2.26 |
Stock Plans - Summary of Restri
Stock Plans - Summary of Restricted Stock Activity (Detail) - Jun. 30, 2015 - Restricted Stock [Member] - $ / shares | Total |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares, Granted | 9,243 |
Shares, Vested | 0 |
Shares, Excercised | 0 |
Shares, Forfeited | 407 |
Shares, Non-vested | 8,836 |
Weighted Average Grant Date Fair Value, Outstanding, Beginning balance | $ 0 |
Weighted Average Grant Date Fair Value, Granted | 10.63 |
Weighted Average Grant Date Fair Value, Vested | 0 |
Weighted Average Grant Date Fair Value, Excercised | 0 |
Weighted Average Grant Date Fair Value, Forfeited | 10.63 |
Weighted Average Grant Date Fair Value, Non-vested | $ 10.63 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Aug. 25, 2015 | Jul. 22, 2015 | Aug. 31, 2015 | Jul. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 |
Subsequent Event [Line Items] | ||||||
Repayment of long term borrowings | $ 8,681 | $ 131 | ||||
Options issued | 636,505 | 1,550,000 | ||||
Option exercise price per share | $ 4.40 | $ 0.87 | ||||
Weighted average grant date fair value of options | $ 0.53 | |||||
Initial Public Offering [Member] | LIBOR Plus 3.50% [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit facility, interest rate description | LIBOR plus 3.50% | |||||
Initial Public Offering [Member] | LIBOR Plus 4.00% [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit facility, interest rate description | LIBOR plus 4.00% | |||||
Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Cash dividend declared | $ 1 | |||||
Cash dividend payable date | Sep. 11, 2015 | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options issued | 810,900 | |||||
Option vesting period | 7 years | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Five [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year One [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Two [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Four [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Six [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Seven [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche B [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options issued | 35,000 | |||||
Option vesting period | 4 years | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year One [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Two [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Four [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant July Twenty Second Two Thousand And Fifteen [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Option exercise price per share | $ 17 | |||||
Weighted average grant date fair value of options | $ 7.64 | |||||
Unrecognized compensation expense | $ 6,500 | |||||
Unrecognized compensation costs period recognized | 7 years | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options issued | 282,343 | |||||
Option vesting period | 7 years | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Five [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year One [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Two [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Four [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 10.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Six [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche A [Member] | Share Based Compensation Award Percentage Vesting In Year Seven [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche B [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options issued | 30,000 | |||||
Option vesting period | 4 years | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year One [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Two [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 25, 2015 Tranche B [Member] | Share Based Compensation Award Percentage Vesting In Year Four [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Options vesting percentage | 25.00% | |||||
Subsequent Event [Member] | Options Grant August 2015 [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Option exercise price per share | $ 19.15 | |||||
Weighted average grant date fair value of options | $ 8.96 | |||||
Unrecognized compensation expense | $ 2,800 | |||||
Unrecognized compensation costs period recognized | 7 years | |||||
Subsequent Event [Member] | Initial Public Offering [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Sales of common stock, shares | 5,500,000 | |||||
Common stock, no par value | ||||||
Common stock issued, value per share | $ 17 | |||||
Gross proceeds from initial public offering | $ 93,500 | |||||
Net proceeds after underwriting discounts and estimated expenses | $ 87,200 | |||||
Repayment of long term borrowings | $ 12,200 | |||||
Subsequent Event [Member] | Initial Public Offering [Member] | LIBOR Plus 3.50% [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit | $ 5,000 | |||||
Debt instrument, basis spread | 3.50% | |||||
Subsequent Event [Member] | Initial Public Offering [Member] | LIBOR Plus 4.00% [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of credit | $ 7,200 | |||||
Debt instrument, basis spread | 4.00% |
Uncategorized Items - lob-20150
Label | Element | Value |
Gain (Loss) on Sales of Loans, Net | us-gaap_GainLossOnSalesOfLoansNet | $ 12,326 |
Gain (Loss) on Sales of Loans, Net | us-gaap_GainLossOnSalesOfLoansNet | 15,719 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | us-gaap_ProfitLoss | 3,935 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | us-gaap_ProfitLoss | 6,661 |
Income (Loss) from Equity Method Investments | us-gaap_IncomeLossFromEquityMethodInvestments | $ (1,208) |