Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 04, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | FIRST COMMUNITY FINANCIAL PARTNERS, INC. | |
Entity Central Index Key | 1,469,134 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 16,986,471 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 9,669 | $ 13,329 |
Interest-bearing deposits in banks | 38,390 | 19,667 |
Securities available for sale | 182,982 | 168,687 |
Non-marketable equity securities | 1,367 | 1,367 |
Mortgage loans held for sale | 1,449 | 738 |
Loans, net of allowance for loan losses of $12,420 in 2015; $13,905 in 2014 | 715,377 | 675,288 |
Premises and equipment, net | 18,847 | 19,369 |
Foreclosed assets | 4,248 | 2,530 |
Cash surrender value of life insurance | 4,387 | 4,323 |
Deferred tax asset, net | 12,490 | 14,233 |
Accrued interest receivable and other assets | 5,263 | 4,544 |
Total assets | 994,469 | 924,075 |
Deposits | ||
Noninterest bearing | 174,527 | 158,329 |
Interest bearing | 659,861 | 611,081 |
Total deposits | 834,388 | 769,410 |
Other borrowed funds | 44,098 | 29,529 |
Subordinated debt | 15,300 | 29,133 |
Accrued interest payable and other liabilities | 4,513 | 3,950 |
Total liabilities | $ 898,299 | $ 832,022 |
Concentrations, Commitments and Contingencies (Note 9 to Unaudited Consolidated Financial Statements) | ||
First Community Financial Partners, Inc. Shareholders’ Equity | ||
Common stock, $1.00 par value; 60,000,000 shares authorized; 16,984,221 issued and outstanding at June 30, 2015 and 16,668,002 issued and outstanding at December 31, 2014 | $ 16,984 | $ 16,668 |
Additional paid-in capital | 81,707 | 81,648 |
Accumulated deficit | (3,069) | (7,019) |
Accumulated other comprehensive income | 548 | 756 |
Total shareholders' equity | 96,170 | 92,053 |
Total liabilities and shareholders' equity | $ 994,469 | $ 924,075 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 12,420 | $ 13,905 |
Common stock, Par or Stated Value per Share | $ 1 | $ 1 |
Common stock, Shares Authorized | 60,000,000 | 60,000,000 |
Common stock, Shares, Issued | 16,984,221 | 16,668,002 |
Common Stock, Shares, Outstanding | 16,984,221 | 16,668,002 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income: | ||||
Loans, including fees | $ 8,090 | $ 8,086 | $ 15,906 | $ 15,751 |
Securities | 962 | 737 | 1,913 | 1,413 |
Federal funds sold and other | 15 | 19 | 28 | 37 |
Total interest income | 9,067 | 8,842 | 17,847 | 17,201 |
Interest expense: | ||||
Deposits | 987 | 1,133 | 1,964 | 2,269 |
Federal funds purchased and other borrowed funds | 17 | 17 | 31 | 34 |
Subordinated debt | 603 | 432 | 1,206 | 863 |
Total interest expense | 1,607 | 1,582 | 3,201 | 3,166 |
Net interest income | 7,460 | 7,260 | 14,646 | 14,035 |
Provision for loan losses | (749) | 667 | (749) | 2,667 |
Net interest income after provision for loan losses | 8,209 | 6,593 | 15,395 | 11,368 |
Noninterest income: | ||||
Service charges on deposit accounts | 194 | 152 | 377 | 283 |
Gain on sale of loans | 0 | 28 | 0 | 32 |
Gain on sale of securities | 0 | 38 | 21 | 38 |
Gain on foreclosed assets, net | 0 | 0 | 0 | 19 |
Mortgage fee income | 153 | 83 | 257 | 140 |
Other | 174 | 544 | 313 | 953 |
Noninterest Income | 521 | 845 | 968 | 1,465 |
Noninterest expenses: | ||||
Salaries and employee benefits | 2,810 | 2,785 | 5,694 | 5,640 |
Occupancy and equipment expense | 505 | 577 | 997 | 1,102 |
Data processing | 237 | 249 | 462 | 478 |
Professional fees | 411 | 372 | 792 | 697 |
Advertising and business development | 227 | 213 | 417 | 341 |
Losses on sale and writedowns of foreclosed assets, net | 20 | 369 | 20 | 369 |
Foreclosed assets, net of rental income | 70 | 55 | 141 | 135 |
Other expense | 919 | 791 | 1,834 | 1,309 |
Noninterest expense | 5,199 | 5,411 | 10,357 | 10,071 |
Income before income taxes | 3,531 | 2,027 | 6,006 | 2,762 |
Income taxes | 1,189 | 557 | 2,056 | 788 |
Net income attributable to First Community Financial Partners | 2,342 | 1,470 | 3,950 | 1,974 |
Dividends and accretion on preferred shares | 0 | (144) | 0 | (288) |
Net income applicable to common shareholders | $ 2,342 | $ 1,326 | $ 3,950 | $ 1,686 |
Common share data | ||||
Basic earnings per common share | $ 0.14 | $ 0.08 | $ 0.23 | $ 0.10 |
Diluted earnings per common share | $ 0.14 | $ 0.08 | $ 0.23 | $ 0.10 |
Weighted average common shares outstanding for basic earnings per common share | 16,970,721 | 16,548,399 | 16,870,372 | 16,474,053 |
Weighted average common shares outstanding for diluted earnings per common share | 17,088,102 | 16,740,390 | 17,009,399 | 16,692,163 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,342 | $ 1,470 | $ 3,950 | $ 1,974 |
Unrealized holding gains (losses) on investment securities | (2,026) | 460 | (321) | 1,203 |
Reclassification adjustments for gains included in net income | 0 | (38) | (21) | (38) |
Tax effect of realized and unrealized gains and losses on investment securities | 792 | (141) | 134 | (430) |
Other comprehensive income (loss), net of tax | (1,234) | 281 | (208) | 735 |
Comprehensive income | $ 1,108 | $ 1,751 | $ 3,742 | $ 2,709 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Series B Preferred StockPreferred Stock | Series C Preferred StockPreferred Stock |
Balance, Beginning of period at Dec. 31, 2013 | $ 91,587 | $ 16,334 | $ 81,241 | $ (12,381) | $ 325 | $ 5,176 | $ 892 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 1,974 | 1,974 | |||||
Other comprehensive loss, net of tax | 735 | 735 | |||||
Discount accretion on preferred shares | (109) | 109 | |||||
Dividends on preferred shares | (179) | (179) | |||||
Issuance of shares of common stock for restricted stock awards and amortization | (44) | 215 | (259) | ||||
Stock based compensation expense | 193 | 193 | |||||
Balance, End of period at Jun. 30, 2014 | 94,266 | 16,549 | 81,175 | (10,695) | 1,060 | 5,176 | 1,001 |
Balance, Beginning of period at Dec. 31, 2014 | 92,053 | 16,668 | 81,648 | (7,019) | 756 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 3,950 | 3,950 | |||||
Other comprehensive loss, net of tax | (208) | (208) | |||||
Issuance of shares of common stock for restricted stock awards and amortization | 6 | 303 | (297) | ||||
Issuance of 13,500 shares of common stock for exercise of warrants | 58 | 13 | 45 | ||||
Reclass of warrants upon redemption of preferred stock | (237) | (237) | |||||
Stock based compensation expense | 548 | 548 | |||||
Balance, End of period at Jun. 30, 2015 | $ 96,170 | $ 16,984 | $ 81,707 | $ (3,069) | $ 548 | $ 0 | $ 0 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||
Issuance of shares of common stock for restricted stock (in shares) | 302,719 | 214,731 |
Issuance of shares of common stock for exercise of warrants | 13,500 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest [Abstract] | ||
Net income applicable to First Community Financial Partners, Inc. | $ 3,950 | $ 1,974 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization of securities | 893 | 292 |
Provision for loan losses | (749) | 2,667 |
Gain on sale of foreclosed assets, net | (46) | (19) |
Writedown of foreclosed assets | 67 | 369 |
Net accretion of deferred loan fees | (16) | (44) |
Warrant accretion | 6 | 14 |
Depreciation and amortization of premises and equipment | 567 | 606 |
Realized gains on sales of available for sale securities, net | (21) | (38) |
Increase (decrease) in cash surrender value of life insurance | (64) | 255 |
Deferred income taxes | 1,877 | 141 |
Proceeds from sale of loans | 0 | 8,897 |
Gain on sale of loans | 0 | (32) |
Decrease (increase) in accrued interest receivable and other assets | (719) | 375 |
Increase in accrued interest payable and other liabilities | 611 | 8,257 |
Restricted stock compensation expense | 511 | 193 |
Stock option compensation expense | 37 | 0 |
Net cash provided by operating activities | 6,904 | 23,907 |
Cash Flows From Investing Activities | ||
Net change in interest bearing deposits in banks | (18,723) | (9,355) |
Activity in available for sale securities: | ||
Purchases | (27,443) | (45,671) |
Maturities, prepayments and calls | 9,671 | 12,727 |
Sales | 2,263 | 8,504 |
Purchases of non-marketable equity securities | 0 | (400) |
Net decrease (increase) in loans held for sale | (711) | 629 |
Net increase in loans | (41,129) | (25,280) |
Purchases of premises and equipment | (45) | (4,002) |
Proceeds from sale of foreclosed assets | 66 | 234 |
Net cash used in investing activities | (76,051) | (62,614) |
Cash Flows From Financing Activities | ||
Net increase in deposits | 64,978 | 38,231 |
Cash paid on redemption of subordinated debt | (14,060) | 0 |
Net increase in other borrowings | 14,569 | 5,327 |
Dividends paid on preferred shares | 0 | (179) |
Net cash provided by financing activities | 65,487 | 43,379 |
Net change in cash and due from banks | (3,660) | 4,672 |
Cash and due from banks, Beginning of period | 13,329 | 10,815 |
Cash and due from banks, End of period | $ 9,669 | $ 15,487 |
Consolidated Statements of Cas9
Consolidated Statements of Cash Flows (Supplemental Information) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Supplemental Disclosures of Cash Flow Information | ||
Cash payments for interest | $ 2,915 | $ 3,441 |
Supplemental Schedule of Noncash Investing and Financing Activities | ||
Transfer of loans to foreclosed assets | $ 1,805 | $ 0 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation These are the unaudited consolidated financial statements of First Community Financial Partners, Inc. (the “Company” or “First Community”), and its subsidiaries, including its wholly owned bank subsidiary, First Community Financial Bank (the “Bank”), based in Plainfield, Illinois. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods have been made. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year. These unaudited interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and industry practice. Certain information in footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP and industry practice has been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2014 . The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of income and expenses during the reported periods. Actual results could differ from those estimates. Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications did not result in any changes to previously reported net income or shareholders’ equity. Emerging Growth Company Critical Accounting Policy Disclosure The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act (the “JOBS Act”). Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings per common share is computed using the two-class method. Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share (in thousands, except share data). Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Undistributed earnings allocated to common shareholders $ 2,342 $ 1,470 $ 3,950 $ 1,974 Preferred stock dividends and discount accretion — (144 ) — (288 ) Net income allocated to common shareholders $ 2,342 $ 1,326 $ 3,950 $ 1,686 Weighted average shares outstanding for basic earnings per common share 16,970,721 16,548,399 16,870,372 16,474,053 Dilutive effect of stock-based compensation 117,381 191,991 139,027 218,110 Weighted average shares outstanding for diluted earnings per common share 17,088,102 16,740,390 17,009,399 16,692,163 Basic earnings per common share $ 0.14 $ 0.08 $ 0.23 $ 0.10 Diluted earnings per common share 0.14 0.08 0.23 0.10 |
Securities Available for Sale
Securities Available for Sale | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | Securities Available for Sale The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follows (in thousands): June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Government sponsored enterprises $ 27,802 $ 196 $ — $ 27,998 Residential collateralized mortgage obligations 40,898 234 64 41,068 Residential mortgage backed securities 38,344 269 97 38,516 State and political subdivisions 75,040 1,054 694 75,400 $ 182,084 $ 1,753 $ 855 $ 182,982 December 31, 2014 Government sponsored enterprises $ 30,904 $ 83 $ 36 $ 30,951 Residential collateralized mortgage obligations 44,095 241 62 44,274 Residential mortgage backed securities 27,208 137 128 27,217 State and political subdivisions 65,240 1,096 91 66,245 $ 167,447 $ 1,557 $ 317 $ 168,687 Securities with a fair value of $44.1 million and $40.5 million were pledged as collateral on public funds, securities sold under agreements to repurchase or for other purposes as required or permitted by law as of June 30, 2015 and December 31, 2014 , respectively. The amortized cost and fair value of debt securities available for sale as of June 30, 2015 , by contractual maturity are shown below (in thousands). Maturities may differ from contractual maturities in residential collateralized mortgage obligations and residential mortgage backed securities because the mortgages underlying the securities may be called or repaid without any penalties. Therefore, these securities are segregated in the following maturity summary: Amortized Fair Cost Value Within 1 year $ 9,055 $ 9,085 Over 1 year through 5 years 44,040 44,557 Over 5 years through 10 years 33,368 33,332 Over 10 years 16,379 16,424 Residential collateralized mortgage obligations and mortgage backed securities 79,242 79,584 $ 182,084 $ 182,982 Gains on the sales of securities were $21,000 and $38,000 during the six months ended June 30, 2015 and 2014 , respectively. There were no securities with material unrealized losses existing longer than 12 months, and no securities with unrealized losses which management believed were other-than-temporarily impaired, at June 30, 2015 and December 31, 2014 . The unrealized losses in the portfolio at June 30, 2015 resulted from fluctuations in market interest rates and not from deterioration in the creditworthiness of the issuers. Because the Company does not intend to sell and does not believe it will be required to sell these securities until market price recovery or maturity, these investment securities are not considered to be other-than-temporarily impaired. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans | Loans A summary of the balances of loans follows (in thousands): June 30, 2015 December 31, 2014 Construction and Land Development $ 19,612 $ 18,700 Farmland and Agricultural Production 8,604 9,350 Residential 1-4 Family 109,819 100,773 Multifamily 29,829 24,426 Commercial Real Estate 363,575 353,973 Commercial 187,780 171,452 Consumer and other 8,564 10,706 727,783 689,380 Net deferred loan fees 14 (187 ) Allowance for loan losses (12,420 ) (13,905 ) $ 715,377 $ 675,288 The following table presents the contractual aging of the recorded investment in past due and non-accrual loans by class of loans as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due and Still Accruing Total Accruing Loans Non-accrual Loans Total Loans Construction and Land Development $ 19,612 $ — $ — — $ 19,612 $ — $ 19,612 Farmland and Agricultural Production 8,604 — — — 8,604 — 8,604 Residential 1-4 Family 109,688 69 — — 109,757 62 109,819 Multifamily 29,829 — — — 29,829 — 29,829 Commercial Real Estate Retail 88,610 — — — 88,610 — 88,610 Office 46,185 — — — 46,185 — 46,185 Industrial and Warehouse 66,808 — — — 66,808 1,907 68,715 Health Care 27,898 — — — 27,898 — 27,898 Other 131,404 — 277 — 131,681 486 132,167 Commercial 185,876 — 121 55 186,052 1,728 187,780 Consumer and other 8,532 30 — — 8,562 2 8,564 Total $ 723,046 $ 99 $ 398 55 $ 723,598 $ 4,185 $ 727,783 December 31, 2014 Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due and Still Accruing Total Accruing Loans Non-accrual Loans Total Loans Construction and Land Development $ 18,619 $ — $ 81 $ — $ 18,700 $ — $ 18,700 Farmland and Agricultural Production 9,350 — — — 9,350 — 9,350 Residential 1-4 Family 100,285 — 109 — 100,394 379 100,773 Multifamily 24,426 — — — 24,426 — 24,426 Commercial Real Estate Retail 91,725 — — — 91,725 — 91,725 Office 44,255 — — — 44,255 — 44,255 Industrial and Warehouse 57,410 — — — 57,410 1,907 59,317 Health Care 26,974 — — — 26,974 — 26,974 Other 128,940 — — — 128,940 2,762 131,702 Commercial 169,395 — 118 50 169,563 1,889 171,452 Consumer and other 10,695 1 — — 10,696 10 10,706 Total $ 682,074 $ 1 $ 308 $ 50 $ 682,433 $ 6,947 $ 689,380 As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt and comply with various terms of their loan agreements. The Company considers current financial information, historical payment experience, credit documentation, public information and current economic trends. Generally, all sizable credits receive a financial review no less than annually to monitor and adjust, if necessary, the credit’s risk profile. Credits classified as watch generally receive a review more frequently than annually. For special mention, substandard, and doubtful credit classifications, the frequency of review is increased to no less than quarterly in order to determine potential impact on credit loss estimates. The Company categorizes loans into the following risk categories based on relevant information about the ability of borrowers to service their debt: Pass - A pass asset is well protected by the current worth and paying capacity of the borrower (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral in a timely manner. Pass assets also include certain assets considered watch, which are still protected by the worth and paying capacity of the borrower but deserve closer attention and a higher level of credit monitoring. Special Mention - A special mention asset, or risk rating of 5, has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard - A substandard asset, or risk rating of 6 or 7, is an asset with a well-defined weakness that jeopardizes repayment, in whole or in part, of the debt. These credits are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. These assets are characterized by the distinct possibility that the Company will or has sustained some loss of principal and/or interest if the deficiencies are not corrected. Doubtful - An asset that has all the weaknesses, or risk rating of 8, inherent in the substandard classification, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. These credits have a high probability for loss, yet because certain important and reasonably specific pending factors may work toward the strengthening of the asset, its classification of loss is deferred until its more exact status can be determined. Loss - An asset, or portion thereof, classified as loss, or risk rated 9, is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not necessarily mean that an asset has no recovery or salvage value but that it is not practical or desirable to defer writing off this basically worthless asset even though a partial recovery may occur in the future. There was no balance to report at June 30, 2015 and December 31, 2014 . Residential 1-4 family, consumer and other loans are assessed for credit quality based on the contractual aging status of the loan and payment activity. In certain cases, based upon payment performance, the loan being related with another commercial type loan or for other reasons, a loan may be categorized into one of the risk categories noted above. Such assessment is completed at the end of each reporting period. The following tables present the risk category of loans evaluated by internal asset classification based on the most recent analysis performed and the contractual aging as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Pass Special Mention Substandard Doubtful Total Construction and Land Development $ 15,966 $ 3,646 $ — $ — $ 19,612 Farmland and Agricultural Production 8,604 — — — 8,604 Multifamily 29,142 687 — — 29,829 Commercial Real Estate Retail 80,608 8,002 — — 88,610 Office 46,185 — — — 46,185 Industrial and Warehouse 65,949 859 — 1,907 68,715 Health Care 27,898 — — — 27,898 Other 125,685 2,820 3,267 395 132,167 Commercial 179,139 6,653 404 1,584 187,780 Total $ 579,176 $ 22,667 $ 3,671 $ 3,886 $ 609,400 June 30, 2015 Performing Non-performing Total Residential 1-4 Family $ 109,757 $ 62 $ 109,819 Consumer and other 8,562 2 8,564 Total $ 118,319 $ 64 $ 118,383 December 31, 2014 Pass Special Mention Substandard Doubtful Total Construction and Land Development $ 14,900 $ 3,800 $ — — $ 18,700 Farmland and Agricultural Production 9,350 — — — 9,350 Multifamily 24,426 — — — 24,426 Commercial Real Estate Retail 78,258 13,467 — — 91,725 Office 44,255 — — — 44,255 Industrial and Warehouse 56,316 1,094 — 1,907 59,317 Health Care 26,974 — — — 26,974 Other 121,526 4,185 3,329 2,662 131,702 Commercial 159,648 8,706 2,116 982 171,452 Total $ 535,653 $ 31,252 $ 5,445 5,551 $ 577,901 December 31, 2014 Performing Non-performing Total Residential 1-4 Family $ 100,394 $ 379 $ 100,773 Consumer and other 10,696 10 10,706 Total $ 111,090 $ 389 $ 111,479 Non-performing loans include those on non-accrual status and those past due 90 days or more and still on accrual. The following table provides additional detail of the activity in the allowance for loan losses, by portfolio segment, for the three months ended June 30, 2015 and 2014 (in thousands): June 30, 2015 Construction and Land Development Farmland and Agricultural Production Residential 1-4 Family Multifamily Commercial Real Estate Commercial Consumer and other Total Allowance for loan losses: Beginning balance $ 731 $ 439 $ 1,146 $ 97 $ 7,162 $ 3,917 $ 286 $ 13,778 Provision for loan losses 49 (412 ) 3 (2 ) (672 ) 410 (125 ) (749 ) Loans charged-off — — (123 ) — (105 ) (507 ) (2 ) (737 ) Recoveries of loans previously charged-off 18 — 21 — 9 75 5 128 Ending balance $ 798 $ 27 $ 1,047 $ 95 $ 6,394 $ 3,895 $ 164 $ 12,420 June 30, 2014 Allowance for loan losses: Beginning balance $ 1,455 $ 404 $ 1,540 $ 306 $ 8,624 $ 3,757 $ 265 $ 16,351 Provision for loan losses (334 ) 49 (266 ) (202 ) 1,327 66 27 667 Loans charged-off — — (88 ) — (2,494 ) (264 ) — (2,846 ) Recoveries of loans previously charged-off 18 — 5 — 149 39 — 211 Ending balance $ 1,139 $ 453 $ 1,191 $ 104 $ 7,606 $ 3,598 $ 292 $ 14,383 The following table provides additional detail of the activity in the allowance for loan losses, by portfolio segment, for the six months ended June 30, 2015 and 2014 (in thousands): June 30, 2015 Construction and Land Development Farmland and Agricultural Production Residential 1-4 Family Multifamily Commercial Real Estate Commercial Consumer and other Total Allowance for loan losses: Beginning balance $ 758 $ 459 $ 1,199 $ 67 $ 6,828 $ 4,296 $ 298 $ 13,905 Provision for loan losses 5 (432 ) (128 ) 28 (347 ) 263 (138 ) (749 ) Loans charged-off — — (195 ) — (104 ) (770 ) (3 ) (1,072 ) Recoveries of loans previously charged-off 35 — 171 17 106 7 336 Ending balance $ 798 $ 27 $ 1,047 $ 95 $ 6,394 $ 3,895 $ 164 $ 12,420 June 30, 2014 Allowance for loan losses: Beginning balance $ 2,711 $ 427 $ 1,440 $ 97 $ 7,812 $ 3,183 $ 150 $ 15,820 Provision for loan losses (424 ) 26 (112 ) 7 1,646 1,372 152 2,667 Loans charged-off (1,186 ) — (156 ) — (2,677 ) (1,067 ) (16 ) (5,102 ) Recoveries of loans previously charged-off 38 — 19 — 825 110 6 998 Ending balance $ 1,139 $ 453 $ 1,191 $ 104 $ 7,606 $ 3,598 $ 292 $ 14,383 The following table presents the balance in the allowance for loan losses and the unpaid principal balance of loans by portfolio segment and based on impairment method as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Construction and Land Development Farmland and Agricultural Production Residential 1-4 Family Multifamily Commercial Real Estate Commercial Consumer and other Total Period-ended amount allocated to: Individually evaluated for impairment $ — $ — $ 25 $ — $ — $ 37 $ — $ 62 Collectively evaluated for impairment 798 27 1,022 95 6,394 3,858 164 12,358 Ending balance $ 798 $ 27 $ 1,047 $ 95 $ 6,394 $ 3,895 $ 164 $ 12,420 Loans: Individually evaluated for impairment $ — $ — $ 1,689 $ — $ 6,749 $ 4,285 $ 2 $ 12,725 Collectively evaluated for impairment 19,612 8,604 108,130 29,829 356,826 183,495 8,562 715,058 Ending balance $ 19,612 $ 8,604 $ 109,819 $ 29,829 $ 363,575 $ 187,780 $ 8,564 $ 727,783 December 31, 2014 Period-ended amount allocated to: Individually evaluated for impairment $ — — $ 29 $ — $ — $ 561 $ — $ 590 Collectively evaluated for impairment 758 459 1,170 67 6,828 3,735 298 13,315 Ending balance $ 758 $ 459 $ 1,199 $ 67 $ 6,828 $ 4,296 $ 298 $ 13,905 Loans: Individually evaluated for impairment $ — — $ 2,020 $ — $ 9,084 $ 4,495 $ 11 $ 15,610 Collectively evaluated for impairment 18,700 9,350 98,753 24,426 344,889 166,957 10,695 673,770 Ending balance $ 18,700 $ 9,350 $ 100,773 $ 24,426 $ 353,973 $ 171,452 $ 10,706 $ 689,380 The following tables present additional detail of impaired loans, segregated by class, as of and for the three and six months ended June 30, 2015 and year ended December 31, 2014 (dollars in thousands). The unpaid principal balance represents the recorded balance prior to any partial charge-offs. The recorded investment represents customer balances net of any partial charge-offs recognized on the loans. The interest income recognized column represents all interest income reported after the loan became impaired. June 30, 2015 Three Months Ended Six Months Ended Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Construction and Land Development $ — $ — $ — $ — $ — $ — $ — Farmland and Agricultural Production — — — — — — — Residential 1-4 Family 1,255 1,216 — 1,230 16 1,335 31 Multifamily — — — — — — — Commercial Real Estate Retail — — — — — — — Office 502 502 — 504 5 506 13 Industrial and Warehouse 1,993 1,907 — 1,907 — 1,907 — Health Care — — — — — — Other 7,007 4,340 — 5,300 27 5,755 59 Commercial 4,782 4,185 — 3,812 33 3,719 66 Consumer and other 2 2 — 3 — 6 — With an allowance recorded: Construction and Land Development — — — — — — — Farmland and Agricultural Production — — — — — — — Residential 1-4 Family 473 473 25 474 5 474 11 Multifamily — — — — — — — Commercial Real Estate Retail — — — — — — — Office — — — — — — — Industrial and Warehouse — — — — — — — Health Care — — — — — — — Other — — — 160 — 107 — Commercial 100 100 37 375 — 570 — Consumer and other — — — — — — — Total $ 16,114 $ 12,725 $ 62 $ 13,765 $ 86 $ 14,379 $ 180 December 31, 2014 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Construction and Land Development $ — $ — $ — $ — $ — Farmland and Agricultural Production — — — — — Residential 1-4 Family 1,732 1,543 — 1,298 63 Multifamily — — — 119 — Commercial Real Estate Retail — — — 707 — Office 511 510 — 779 25 Industrial and Warehouse 1,994 1,907 — 1,550 — Health Care — — — — Other 9,658 6,667 — 6,126 — Commercial 3,733 3,534 — 4,147 — Consumer and other 20 11 — 14 — With an allowance recorded: Construction and Land Development — — — 887 — Farmland and Agricultural Production — — — — — Residential 1-4 Family 477 477 29 637 31 Multifamily — — — — — Commercial Real Estate Retail — — — 1,907 — Office — — — — — Industrial and Warehouse — — — — — Health Care — — — — — Other — — — 1,084 — Commercial 1,312 961 561 453 — Consumer and other — — — — — Total $ 19,437 $ 15,610 $ 590 $ 19,708 $ 119 During the six months ended June 30, 2015 , there were no troubled debt restructurings added. During the six months ended June 30, 2014 , there were four contracts totaling $3.2 million in troubled debt restructurings added, two of which were the result of the payment of real estate taxes by the Bank on the behalf of the customer and the third was the result of a payment concession. Troubled debt restructurings that were accruing were $2.8 million as of June 30, 2015 and December 31, 2014 . Troubled debt restructurings that were non-accruing were $2.4 million as of June 30, 2015 and December 31, 2014 . The following presents a rollfoward activity of troubled debt restructurings (in thousands, except number of loans): Six months ended June 30, 2015 Recorded Investment Number of Loans Balance, beginning $ 5,621 10 Additions to troubled debt restructurings — — Removal of troubled debt restructurings (309 ) (1 ) Charge-off related to troubled debt restructurings — — Transfers to other real estate owned — — Repayments and other reductions (139 ) (1 ) Balance, ending $ 5,173 8 Restructured loans are evaluated for impairment at each reporting date as part of the Company’s determination of the allowance for loan losses. |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Deposits | Deposits The composition of interest-bearing deposits was as follows (in thousands): June 30, 2015 December 31, 2014 NOW and money market accounts $ 326,592 $ 269,977 Savings 33,567 30,211 Time deposit certificates of $250,000 or more 56,257 50,682 Time deposit certificates of $100,000 to $250,000 136,810 145,506 Other time deposit certificates 106,635 114,705 $ 659,861 $ 611,081 The composition of brokered deposits included in deposits was as follows (in thousands): June 30, 2015 December 31, 2014 NOW and money market accounts $ 33,356 $ — Time deposit certificates 9,404 9,145 $ 42,760 $ 9,145 |
Other Borrowed Funds
Other Borrowed Funds | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Other Borrowed Funds | Other Borrowed Funds The composition of other borrowed funds was as follows (in thousands): June 30, 2015 December 31, 2014 Securities sold under agreements to repurchase $ 30,038 $ 29,059 Secured borrowings 14,060 — Mortgage note payable — 470 $ 44,098 $ 29,529 Securities sold under agreements to repurchase are agreements in which the Bank acquires funds by selling securities to another party under a simultaneous agreement to repurchase the same securities at a specified price and date. These agreements represent a demand deposit account product to clients that sweep their balances in excess of an agreed upon target amount into overnight repurchase agreements. The mortgage note payable was related to the purchase of a building in Burr Ridge, Illinois, the Bank, as successor in interest to Burr Ridge Bank and Trust, was the obligor to a $1.0 million mortgage note signed on February 28, 2012. During the second quarter of 2015 the remaining balance of this obligation was repaid in full. On June 29, 2015, the Company entered into a credit facility with an unaffiliated bank for two credit facilities. The credit facilities include a $4.0 million revolving line of credit, which was fully drawn at June 30, 2015 and a $10.1 million term loan. The revolving line matures in 2020 and the term loan matures in 2021. The credit facilities have an annual interest rate of 2.25% plus LIBOR, which is currently 2.4% . The credit facilities are collateralized by the stock of the Company’s wholly-owned subsidiary, the Bank. A collateral pledge agreement exists whereby at all times, the Bank must keep on hand, free of all other pledges, liens, and encumbrances, commercial real estate loans, first mortgage loans, and home equity loans with unpaid principal balances aggregating no less than 133% for first mortgage loans and 200% for home equity loans of the outstanding secured advances from the Federal Home Loan Bank of Chicago (“FHLB”). The Bank had $296.5 million and $267.2 million of loans pledged as collateral for FHLB advances as of June 30, 2015 and December 31, 2014 , respectively. There were no advances outstanding at June 30, 2015 and December 31, 2014 , respectively. The Bank has entered into collateral pledge agreements whereby the Bank pledges commercial, commercial real estate, agricultural and consumer loans to the Federal Reserve Bank of Chicago Discount Window which allows the Bank to borrow on a short term basis, typically overnight. The Bank had $101.3 million and $99.8 million of loans pledged as collateral under these agreements as of June 30, 2015 and December 31, 2014 , respectively. There were no borrowings outstanding at June 30, 2015 and December 31, 2014 . |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income tax expense recognized is as follows (in thousands): Six months ended June 30, 2015 2014 Current $ 179 $ 647 Deferred 1,877 141 $ 2,056 $ 788 The table below presents a reconciliation of the amount of income taxes determined by applying the U.S. federal income tax rate to pretax income (in thousands): Six months ended June 30, 2015 2014 Federal income tax at statutory rate $ 2,102 $ 967 Increase (decrease) due to: Federal tax exempt (254 ) (135 ) State income tax, net of federal benefit 307 173 Benefit of income taxed at lower rate (60 ) 28 Tax exempt income (16 ) (10 ) Cash surrender value of life insurance (22 ) (164 ) Other (1 ) (71 ) $ 2,056 $ 788 Deferred tax assets and liabilities consist of (in thousands): June 30, 2015 December 31, 2014 Deferred tax assets: Allowance for loan losses $ 4,275 $ 4,836 Merger expenses 146 156 Organization expenses 240 262 Net operating losses 6,865 8,320 Contribution carryforward 38 38 Restricted stock 159 — Non-qualified stock options 631 860 Foreclosed assets 308 291 Tax Credits 416 374 Other — 76 13,078 15,213 Deferred tax liabilities: Depreciation (233 ) (334 ) Unrealized gains on securities available for sale (350 ) (484 ) Other (5 ) (162 ) (588 ) (980 ) Net deferred tax asset $ 12,490 $ 14,233 Under U.S. GAAP, a valuation allowance against a net deferred tax asset is required to be recognized if it is more-likely-than-not that a deferred tax asset will not be realized. The determination of the realizability of the deferred tax asset is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, forecasts of future income, applicable tax planning strategies and assessments of current and future economic and business conditions. The Company had a federal net operating loss carryforward of $17.3 million and $20.3 million at June 30, 2015 and December 31, 2014 , respectively, which could be used to offset future regular corporate federal income tax as of June 30, 2015 and December 31, 2014 . The net operating loss carryforward expires between the December 31, 2030 and December 31, 2033, fiscal tax years. The Company had an Illinois net operating loss carryforward of $14.0 million and $22.6 million at June 30, 2015 and December 31, 2014 , respectively, that could be used to offset future regular corporate state income tax, as of June 30, 2015 and December 31, 2014 . This Illinois net operating loss carryforward will expire between the December 31, 2025 and December 31, 2028, fiscal tax years. |
Stock Compensation Plans
Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Compensation Plans | Stock Compensation Plans The Company maintains the First Community Financial Partners, Inc. Amended and Restated 2008 Equity Incentive Plan (the “2008 Equity Incentive Plan”), which assumed and incorporated all outstanding awards under previously adopted Company equity incentive plans. The 2008 Equity Incentive Plan allows for the granting of awards including stock options, restricted stock, restricted stock units, stock appreciation rights, stock awards and cash incentive awards. This plan was amended in December 2011 to increase the number of shares authorized for delivery by 1,000,000 shares. As a result, under the 2008 Equity Incentive Plan, 2,430,000 shares of Company common stock have been reserved for the granting of awards. Under the 2008 Equity Incentive Plan, options are to be granted at the fair value of the stock at the date of the grant and generally vest at 33-1/3% as of the first anniversary of the grant date and an additional 33-1/3% as of each successive anniversary of the grant date. Options must be exercised within 10 years after the date of grant. On August 15, 2013, the Company adopted the First Community Financial Partners, Inc. 2013 Equity Incentive Plan (the “2013 Equity Incentive Plan”). The 2013 Equity Incentive Plan allows for the granting of awards including stock options, restricted stock, restricted stock units, stock appreciation rights, stock awards and cash incentive awards. Under this plan, 1,000,000 shares of Company common stock have been reserved for the granting of awards. The following table summarizes data concerning stock options (aggregate intrinsic value in thousands): June 30, 2015 Shares Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at beginning of year 1,089,404 $ 7.00 $ — Granted 217,500 5.20 294 Exercised — — — Canceled — — — Expired — — — Forfeited (1,100 ) 8.30 — Outstanding at end of period 1,305,804 $ 6.70 $ 834 Exercisable at end of period 1,088,304 $ 6.99 $ 541 The aggregate intrinsic value of a stock option in the table above represents the total pre-tax amount by which the current market value of the underlying stock exceeds the price of the option that would have been received by the option holders had all option holders exercised their options on June 30, 2015 . There was $834,000 and $0 in intrinsic value of the stock options outstanding at June 30, 2015 and December 31, 2014 . The intrinsic value will change when the market value of the Company’s stock changes. The fair value (present value of the estimated future benefit to the option holder) of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The Company recognized $37,000 and $0 of compensation expense related to the stock options for the six months ended June 30, 2015 and 2014. At June 30, 2015 , there was $230,000 in compensation expense to be recognized related to outstanding stock options. Information pertaining to options outstanding at June 30, 2015 is as follows: Exercise Prices Number Outstanding Weighted Average Remaining Life (yrs) Number Exercisable $5.00 364,376 4.04 364,376 $5.20 217,500 9.52 — $5.53 6,000 4.84 6,000 $6.25 30,600 4.42 30,600 $6.38 10,000 0.81 10,000 $7.50 433,700 2.07 433,700 $8.00 4,000 4.22 4,000 $9.25 239,628 2.88 239,628 1,305,804 1,088,304 No options vested during the three months ended June 30, 2015 . The Company grants restricted stock units to select officers and directors within the organization under the 2008 Equity Incentive Plan and the 2013 Equity Incentive Plan, which entitle the holder to receive shares of Company common stock in the future, subject to certain terms, conditions and restrictions. Holders of restricted stock units are also entitled to receive additional units equal in value to any dividends paid with respect to the restricted stock units during the vesting period. Compensation expense for the restricted stock units equals the market price of the related stock at the date of grant and is amortized on a straight-line basis over the vesting period. In January 2015, restricted stock was issued with certain performance conditions for a minimum of 33,600 shares, and up to a maximum of 170,549 shares. These performance conditions are expected to be met by the end of 2015 and the expense related to these awards is being recognized over the year. The Company recognized compensation expense of $407,000 and $123,000 , respectively, for the six months ended June 30, 2015 and 2014 , related to the 2008 Equity Incentive Plan and the 2013 Equity Incentive Plan. Total unrecognized compensation expense related to restricted stock grants was approximately $182,000 as of June 30, 2015 . The following is a summary of nonvested restricted stock units: June 30, 2015 Number of Shares Weighted Average Grant Date Fair Value Outstanding at beginning of year 212,020 $ 3.95 Granted 53,600 5.31 Vested (202,020 ) 3.97 Canceled — — Forfeited — — Nonvested shares, end of period 63,600 $ 5.06 |
Concentrations, Commitments and
Concentrations, Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Concentrations, Commitments and Contingencies | Concentrations, Commitments and Contingencies Concentrations of credit risk : In addition to financial instruments with off-balance-sheet risk, the Company, to a certain extent, is exposed to varying risks associated with concentrations of credit. Concentrations of credit risk generally exist if a number of borrowers are engaged in similar activities and have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by economic or other conditions. The Company conducts substantially all of its lending activities in Will, Grundy, DuPage, Cook and Kane counties in Illinois and their surrounding communities. Loans granted to businesses are primarily secured by business assets, investment real estate, owner-occupied real estate or personal assets of commercial borrowers. Loans to individuals are primarily secured by personal residences or other personal assets. Since the Company’s borrowers and its loan collateral have geographic concentration in its primary market area, the Company could have exposure to declines in the local economy and real estate market. However, management believes that the diversity of its customer base and local economy, its knowledge of the local market, and its proximity to customers limits the risk of exposure to adverse economic conditions. Credit related financial instruments : The Company is party to credit related 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. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance-sheet instruments. A summary of the Company’s commitments is as follows (in thousands): June 30, 2015 December 31, 2014 Commitments to extend credit $ 141,342 $ 132,693 Standby letters of credit 10,335 10,169 Performance letters of credit 737 440 $ 152,414 $ 143,302 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. Because 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, is based on management’s credit evaluation of the party. 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 and, generally, have terms of one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company holds collateral, which may include accounts receivable, inventory, property and equipment or, income producing properties, supporting those commitments if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third party, the Company would be required to fund the commitment. The maximum potential amount of future payments the Company could be required to make is represented by the contractual amount shown in the summary above. If the commitment were funded, the Company would be entitled to seek recovery from the customer. Contingencies : In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management, any liability resulting from such pending proceedings would not be expected to have a material adverse effect on the Company’s consolidated financial statements. |
Capital and Regulatory Matters
Capital and Regulatory Matters | 6 Months Ended |
Jun. 30, 2015 | |
Regulatory Capital Requirements [Abstract] | |
Capital and Regulatory Matters | Capital and Regulatory Matters The Company and Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Bank’s financial results and condition. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. In addition, the Bank remains subject to certain of the de novo bank requirements of the Federal Deposit Insurance Corporation (“FDIC”) until the Bank has been chartered for a period longer than seven years. Until October 28, 2015, the Bank is required, among other items, to obtain FDIC approval for any material change to its business plan. As of June 30, 2015 , the Bank was well capitalized under the regulatory framework for prompt corrective action. Currently, to be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based, common equity tier 1 capital, and Tier 1 leverage ratios as set forth in the following table. Bank regulators can modify capital requirements as part of their examination process. In July 2013, the U.S. federal banking authorities approved the implementation of the Basel III regulatory capital reforms and issued rules effecting certain changes required by the Dodd-Frank Act (the “Basel III Rules”). The Basel III Rules are applicable to all U.S. banks that are subject to minimum capital requirements, as well as to bank and savings and loan holding companies other than “small bank holding companies” (generally non-public bank holding companies with consolidated assets of less than $1 billion ). The Basel III Rules not only increased most of the required minimum regulatory capital ratios, but they introduced a new common equity tier 1 capital ratio and the concept of a capital conservation buffer. The Basel III Rules also expanded the definition of capital by establishing criteria that instruments must meet to be considered additional Tier 1 capital (Tier 1 capital in addition to common equity) and Tier 2 capital. A number of instruments that generally qualified as Tier 1 capital will not qualify, or their qualifications will change when the Basel III rules are fully implemented. The Basel III Rules also permitted banking organizations with less than $15.0 billion in assets to retain, through a one-time election, the existing treatment for accumulated other comprehensive income, which currently does not affect regulatory capital. The Company made this one time election in the first quarter of 2015. The Basel III Rules have maintained the general structure of the current prompt corrective action framework, while incorporating the increased requirements. The prompt corrective action guidelines were also revised to add the common equity Tier 1 capital ratio. In order to be a “well-capitalized” depository institution under the new regime, a bank and holding company must maintain a common equity Tier 1 capital ratio of 6.5% or more; a Tier 1 capital ratio of 8% or more; a total capital ratio of 10% or more; and a leverage ratio of 5% or more. The Company and Bank became subject to the new Basel III Rules on January 1, 2015, with phase-in periods for many of the changes. Management believes, as of June 30, 2015 and December 31, 2014 , the Company and the Bank met all capital adequacy requirements to which they were subject. The Company’s and the Bank’s capital amounts and ratios are presented in the following table (dollar amounts in thousands): Actual Minimum Capital Requirement Minimum To Be Well Capitalized under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2015 Total capital (to risk-weighted assets) Consolidated $ 118,352 15.08 % $ 62,795 8.00 % N/A N/A First Community Financial Bank 123,983 15.84 % 62,608 8.00 % $ 78,260 10.00 % Tier 1 capital (to risk-weighted assets) Consolidated 90,041 11.47 % 47,096 6.00 % N/A N/A First Community Financial Bank 113,992 14.59 % 46,956 6.00 % 62,795 8.00 % Common equity tier 1 capital Consolidated 90,041 11.47 % 55,684 6.00 % N/A N/A First Community Financial Bank 113,992 14.59 % 55,684 6.00 % 50,869 6.50 % Tier 1 leverage ratio Consolidated 90,041 9.70 % 55,684 6.00 % N/A N/A First Community Financial Bank 113,992 12.30 % 55,684 6.00 % 39,130 5.00 % December 31, 2014 Total capital (to risk-weighted assets) Consolidated $ 115,341 13.55 % $ 60,400 8.00 % N/A N/A First Community Financial Bank 111,470 14.79 % 60,289 8.00 % $ 75,361 10.00 % Tier 1 capital (to risk-weighted assets) Consolidated 77,547 10.27 % 30,200 4.00 % N/A N/A First Community Financial Bank 101,997 13.53 % 30,144 4.00 % 45,217 6.00 % Tier 1 capital (to average assets) Consolidated 77,547 8.55 % 36,281 4.00 % N/A N/A First Community Financial Bank 101,997 11.23 % 36,324 4.00 % 45,405 5.00 % Under the Illinois Banking Act, Illinois-chartered banks generally may not pay dividends in excess of their net profits, after first deducting their losses (including any accumulated deficit) and provision for loan losses. The payment of dividends by any bank is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. Moreover, the FDIC prohibits the payment of any dividends by a bank if the FDIC determines such payment would constitute an unsafe or unsound practice. In addition, the FDIC places restrictions on dividend payments during the first seven years of a new bank’s operations, after which time allowing cash dividends to be paid only from net operating income and does not permit dividends to be paid until an appropriate allowance for loan and lease losses has been established and overall capital is adequate. For the six months ended June 30, 2015 and the year ended December 31, 2014 , the Bank was unable to pay common share dividends due to having an accumulated deficit. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert expected future amounts, such as cash flows or earnings, to a single present value amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 : Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 : Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality, the Company’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. Our valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarterly valuation process. Financial Instruments Recorded at Fair Value on a Recurring Basis Securities Available for Sale: The fair value of the Company’s securities available for sale is determined using Level 2 inputs from independent pricing services. Level 2 inputs consider observable data that may include dealer quotes, market spread, cash flows, treasury yield curve, trading levels, credit information and terms, among other factors. Certain state and political subdivision securities are not valued based on observable transactions and are, therefore, classified as Level 3. Derivatives: The Bank provides clients with interest rate swap transactions and offset the transactions with interest rate swap transactions with another financial institution as a means of providing loan terms agreeable to both parties. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative and classified as Level 2. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including LIBOR rate curves. The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): June 30, 2015 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Securities Available for Sale: Government sponsored enterprises $ 27,998 $ — $ 27,998 $ — Residential collateralized mortgage obligations 41,068 — 41,068 — Residential mortgage backed securities 38,516 — 38,516 — State and political subdivisions 75,400 — 73,900 1,500 Derivative financial instruments 292 — 292 — Financial Liabilities Derivative financial instruments 292 — 292 — December 31, 2014 Financial Assets Securities Available for Sale: Government sponsored enterprises $ 30,951 $ — $ 30,951 $ — Residential collateralized mortgage obligations 44,274 — 44,274 — Residential mortgage backed securities 27,217 — 27,217 — State and political subdivisions 66,245 — 64,731 1,514 Derivative financial instruments 314 — 314 — Financial Liabilities Derivative financial instruments 314 — 314 — The significant unobservable inputs used in the Level 3 fair value measurements of the Company’s state and political subdivisions in the table above primarily relate to the discounted cash flows including the bond’s coupon, yield and expected maturity date. The Company did not have any transfers between Level 1 and Level 2 of the fair value hierarchy during the six months ended June 30, 2015 . The Company’s policy for determining transfers between levels occurs at the end of the reporting period when circumstances in the underlying valuation criteria change and result in transfer between levels. The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and political subdivisions Beginning balance, December 31, 2014 $ 1,514 Total gains or losses (realized/unrealized) included in other comprehensive income (14 ) Included in earnings — Purchases — Paydowns and maturities — Transfers in and/or out of Level 3 — Ending balance, June 30, 2015 $ 1,500 Beginning balance, December 31, 2013 $ 2,719 Total gains or losses (realized/unrealized) included in other comprehensive income (19 ) Included in earnings — Purchases — Paydowns and maturities (1,245 ) Transfers in and/or out of Level 3 — Ending balance, June 30, 2014 $ 1,455 Financial Instruments Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with generally accepted accounting principles. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are set forth below: June 30, 2015 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Mortgage loans held for sale $ 1,449 — — $ 1,449 Impaired loans $ 12,663 — — $ 12,663 Foreclosed assets 4,248 — — 4,248 December 31, 2014 Financial Assets Mortgage loans held for sale $ 738 — — $ 738 Impaired loans $ 15,020 — — $ 15,020 Foreclosed assets 2,530 — — 2,530 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Estimate Valuation Techniques Unobservable Input Discount Range Assets June 30, 2015 Mortgage loans held for sale $ 1,449 Secondary market pricing Selling costs — Impaired loans 12,663 Appraisal of Collateral Appraisal adjustments Selling costs 10% to 25% Foreclosed assets 4,248 Appraisal of Collateral Selling costs 10.00% December 31, 2014 Mortgage loans held for sale 738 Secondary market pricing Selling costs — Impaired loans 15,020 Appraisal of Collateral Appraisal adjustments Selling costs 10% to 25% Foreclosed assets 2,530 Appraisal of Collateral Selling costs 10.00% Impaired loans : Impaired loans are evaluated and valued at the time the loan is identified as impaired, at the lower of cost or fair value. Fair value is measured based on the value of the collateral securing these loans and is classified at a Level 3 in the fair value hierarchy. The fair value for an impaired loan is generally determined utilizing appraisals for real estate loans and value guides or consultants for commercial and industrial loans and other loans secured by items such as equipment, inventory, accounts receivable or vehicles. In substantially all instances, a 10% discount is utilized for selling costs which includes broker fees and closing costs. It is our general practice to obtain updated values on impaired loans every twelve to eighteen months. In instances where the appraisal is greater than one year old, an additional discount is considered ranging from 5% to 15% . Any adjustment is based on either comparisons from other recent appraisals obtained by the Company on like properties or using third party resources such as real estate brokers or Reis, Inc., a nationally recognized provider of commercial real estate information including real estate values. As of June 30, 2015 and December 31, 2014 , approximately $4.2 million , or 33% , and $10.8 million , or 69% , of impaired loans were evaluated for impairment using appraisals performed within twelve months of these dates, respectively. Loans Held for Sale: The fair value of loans held for sale is determined using quoted secondary market prices and classified as Level 2. Foreclosed assets : Foreclosed assets upon initial recognition are measured and reported at fair value through a charge-off to the allowance for loan losses based upon the fair value of the foreclosed asset. Fair values are generally based on third party appraisals of the property resulting in Level 3 classification. The appraised value is discounted by 10% for estimated selling costs which includes broker fees and closing costs and appraisals are obtained annually. Disclosures about Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments, whether or not recognized in the balance sheet. Fair value is determined under the framework established by Fair Value Measurements , based upon criteria noted above. Certain financial instruments and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value at the Company. The methodologies for measuring fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are discussed above. The methodologies for other financial assets and financial liabilities are discussed below. The following methods and assumptions were used by the Company in estimating the fair value disclosures of its other financial instruments: Cash and due from banks : The carrying amounts reported in the consolidated balance sheets for cash and due from banks and approximate their fair values. Interest-bearing deposits in banks : The carrying amounts of interest-bearing deposits maturing within one year approximate their fair values. Nonmarketable equity securities : These securities are either redeemable at par or current redemption values; therefore, market value equals cost. Loans : For those variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for fixed rate and all other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality. Deposits : The fair values disclosed for deposits with no defined maturities are equal to their carrying amounts, which represent the amount payable on demand. The carrying amounts for variable-rate certificates of deposit approximate their fair value at the reporting date. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Subordinated debt : The fair values of the Company’s subordinated debt are estimated using discounted cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Other borrowed funds : The carrying amounts of securities sold under repurchase agreements, term notes, revolving lines of credit and mortgage notes payable approximate their fair values. Accrued interest receivable and payable : The carrying amounts of accrued interest approximate their fair values. Off-balance-sheet instruments : Fair values for the Company’s off-balance-sheet lending commitments (standby letters of credit and commitments to extend credit) are based on fees currently charged to enter into similar agreements taking into account the remaining term of the agreements and the counterparties’ credit standing. The fair value of these commitments is not material. The estimated fair values of the Company’s financial instruments are as follows as of June 30, 2015 (in thousands): Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and due from banks $ 9,669 $ 9,669 $ 9,669 $ — $ — Interest-bearing deposits in banks 38,390 38,390 38,390 — — Securities available for sale 182,982 182,982 — 181,482 1,500 Nonmarketable equity securities 1,367 1,367 — — 1,367 Loans, net 715,377 712,796 — — 712,796 Accrued interest receivable 2,678 2,678 2,678 — — Derivative financial instruments 292 292 — 292 — Financial liabilities: Non-interest bearing deposits 174,527 174,527 174,527 — — Interest-bearing deposits 659,861 652,819 292,660 — 360,159 Other borrowed funds 44,098 43,587 43,587 — — Subordinated debt 15,300 15,168 — — 15,168 Accrued interest payable 1,314 1,314 1,314 — — Derivative financial instruments 292 292 — 292 — The estimated fair values of the Company’s financial instruments are as follows as of December 31, 2014 (in thousands): Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and due from banks $ 13,329 $ 13,329 $ 13,329 $ — $ — Interest-bearing deposits in banks 19,667 19,667 19,667 — — Securities available for sale 168,687 168,687 — 167,173 1,514 Nonmarketable equity securities 1,367 1,367 — — 1,367 Mortgage loans held for sale 738 738 — — 738 Loans, net 675,288 675,287 — — 675,287 Accrued interest receivable 2,396 2,396 2,396 — — Derivative financial instruments 314 314 — 314 — Financial liabilities: Non-interest bearing deposits 158,329 158,329 158,329 — — Interest-bearing deposits 611,081 604,726 300,188 — 304,538 Other borrowed funds 29,529 28,957 28,957 — — Subordinated debt 29,133 28,819 — — 28,819 Accrued interest payable 1,029 1,029 1,029 — — Derivative financial instruments 314 314 — 314 — |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities Derivative contracts entered into by the Bank are limited to those that do not qualify for hedge accounting treatment. The Bank provides clients with interest rate swap transactions and offsets the transactions with interest rate swap transactions with another financial institution as a means of providing loan terms agreeable to both parties. As of June 30, 2015 and December 31, 2014 , there were $3.3 million and $3.4 million , respectively, outstanding notional values of swaps where the Bank receives a variable rate of interest and the client receives a fixed rate of interest. This is offset with counterparty contracts where the Bank pays a floating rate of interest and receives a fixed rate of interest. The estimated fair value of interest rate swaps was $292,000 and $314,000 as of June 30, 2015 and December 31, 2014 , respectively, and was recorded gross as an asset and a liability. Swaps with clients and third-party financial institutions are carried at fair value with adjustments recorded in other income the gross amount of the adjustments to the income statement were $22,000 and $37,000 during the three months ended June 30, 2015 and June 30, 2014 , respectively. |
Preferred Stock
Preferred Stock | 6 Months Ended |
Jun. 30, 2015 | |
Preferred Stock [Abstract] | |
Preferred Stock | Preferred Stock On December 4, 2014, the Company repurchased all of its remaining outstanding shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series B (“Series B Preferred Stock”) and Fixed Rate Cumulative Perpetual Preferred Stock, Series C (“Series C Preferred Stock”). 5,176 shares of Series B Preferred stock and 1,100 shares of Series C Preferred Stock were repurchased from certain third-party investors at an aggregate purchase price of $6.3 million , which included accrued and unpaid dividends earned on the shares through the date of repurchase. A gain on the retirement of preferred stock of $4,800 was recorded through accumulated deficit. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share (in thousands, except share data). Three months ended June 30, Six months ended June 30, 2015 2014 2015 2014 Undistributed earnings allocated to common shareholders $ 2,342 $ 1,470 $ 3,950 $ 1,974 Preferred stock dividends and discount accretion — (144 ) — (288 ) Net income allocated to common shareholders $ 2,342 $ 1,326 $ 3,950 $ 1,686 Weighted average shares outstanding for basic earnings per common share 16,970,721 16,548,399 16,870,372 16,474,053 Dilutive effect of stock-based compensation 117,381 191,991 139,027 218,110 Weighted average shares outstanding for diluted earnings per common share 17,088,102 16,740,390 17,009,399 16,692,163 Basic earnings per common share $ 0.14 $ 0.08 $ 0.23 $ 0.10 Diluted earnings per common share 0.14 0.08 0.23 0.10 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follows (in thousands): June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Government sponsored enterprises $ 27,802 $ 196 $ — $ 27,998 Residential collateralized mortgage obligations 40,898 234 64 41,068 Residential mortgage backed securities 38,344 269 97 38,516 State and political subdivisions 75,040 1,054 694 75,400 $ 182,084 $ 1,753 $ 855 $ 182,982 December 31, 2014 Government sponsored enterprises $ 30,904 $ 83 $ 36 $ 30,951 Residential collateralized mortgage obligations 44,095 241 62 44,274 Residential mortgage backed securities 27,208 137 128 27,217 State and political subdivisions 65,240 1,096 91 66,245 $ 167,447 $ 1,557 $ 317 $ 168,687 |
Investments Classified by Contractual Maturity Date | Therefore, these securities are segregated in the following maturity summary: Amortized Fair Cost Value Within 1 year $ 9,055 $ 9,085 Over 1 year through 5 years 44,040 44,557 Over 5 years through 10 years 33,368 33,332 Over 10 years 16,379 16,424 Residential collateralized mortgage obligations and mortgage backed securities 79,242 79,584 $ 182,084 $ 182,982 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | A summary of the balances of loans follows (in thousands): June 30, 2015 December 31, 2014 Construction and Land Development $ 19,612 $ 18,700 Farmland and Agricultural Production 8,604 9,350 Residential 1-4 Family 109,819 100,773 Multifamily 29,829 24,426 Commercial Real Estate 363,575 353,973 Commercial 187,780 171,452 Consumer and other 8,564 10,706 727,783 689,380 Net deferred loan fees 14 (187 ) Allowance for loan losses (12,420 ) (13,905 ) $ 715,377 $ 675,288 |
Past Due Financing Receivables | The following tables present the risk category of loans evaluated by internal asset classification based on the most recent analysis performed and the contractual aging as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Pass Special Mention Substandard Doubtful Total Construction and Land Development $ 15,966 $ 3,646 $ — $ — $ 19,612 Farmland and Agricultural Production 8,604 — — — 8,604 Multifamily 29,142 687 — — 29,829 Commercial Real Estate Retail 80,608 8,002 — — 88,610 Office 46,185 — — — 46,185 Industrial and Warehouse 65,949 859 — 1,907 68,715 Health Care 27,898 — — — 27,898 Other 125,685 2,820 3,267 395 132,167 Commercial 179,139 6,653 404 1,584 187,780 Total $ 579,176 $ 22,667 $ 3,671 $ 3,886 $ 609,400 June 30, 2015 Performing Non-performing Total Residential 1-4 Family $ 109,757 $ 62 $ 109,819 Consumer and other 8,562 2 8,564 Total $ 118,319 $ 64 $ 118,383 December 31, 2014 Pass Special Mention Substandard Doubtful Total Construction and Land Development $ 14,900 $ 3,800 $ — — $ 18,700 Farmland and Agricultural Production 9,350 — — — 9,350 Multifamily 24,426 — — — 24,426 Commercial Real Estate Retail 78,258 13,467 — — 91,725 Office 44,255 — — — 44,255 Industrial and Warehouse 56,316 1,094 — 1,907 59,317 Health Care 26,974 — — — 26,974 Other 121,526 4,185 3,329 2,662 131,702 Commercial 159,648 8,706 2,116 982 171,452 Total $ 535,653 $ 31,252 $ 5,445 5,551 $ 577,901 December 31, 2014 Performing Non-performing Total Residential 1-4 Family $ 100,394 $ 379 $ 100,773 Consumer and other 10,696 10 10,706 Total $ 111,090 $ 389 $ 111,479 The following table presents the contractual aging of the recorded investment in past due and non-accrual loans by class of loans as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due and Still Accruing Total Accruing Loans Non-accrual Loans Total Loans Construction and Land Development $ 19,612 $ — $ — — $ 19,612 $ — $ 19,612 Farmland and Agricultural Production 8,604 — — — 8,604 — 8,604 Residential 1-4 Family 109,688 69 — — 109,757 62 109,819 Multifamily 29,829 — — — 29,829 — 29,829 Commercial Real Estate Retail 88,610 — — — 88,610 — 88,610 Office 46,185 — — — 46,185 — 46,185 Industrial and Warehouse 66,808 — — — 66,808 1,907 68,715 Health Care 27,898 — — — 27,898 — 27,898 Other 131,404 — 277 — 131,681 486 132,167 Commercial 185,876 — 121 55 186,052 1,728 187,780 Consumer and other 8,532 30 — — 8,562 2 8,564 Total $ 723,046 $ 99 $ 398 55 $ 723,598 $ 4,185 $ 727,783 December 31, 2014 Current 30-59 Days Past Due 60-89 Days Past Due 90+ Days Past Due and Still Accruing Total Accruing Loans Non-accrual Loans Total Loans Construction and Land Development $ 18,619 $ — $ 81 $ — $ 18,700 $ — $ 18,700 Farmland and Agricultural Production 9,350 — — — 9,350 — 9,350 Residential 1-4 Family 100,285 — 109 — 100,394 379 100,773 Multifamily 24,426 — — — 24,426 — 24,426 Commercial Real Estate Retail 91,725 — — — 91,725 — 91,725 Office 44,255 — — — 44,255 — 44,255 Industrial and Warehouse 57,410 — — — 57,410 1,907 59,317 Health Care 26,974 — — — 26,974 — 26,974 Other 128,940 — — — 128,940 2,762 131,702 Commercial 169,395 — 118 50 169,563 1,889 171,452 Consumer and other 10,695 1 — — 10,696 10 10,706 Total $ 682,074 $ 1 $ 308 $ 50 $ 682,433 $ 6,947 $ 689,380 |
Allowance for Credit Losses on Financing Receivables | The following table presents the balance in the allowance for loan losses and the unpaid principal balance of loans by portfolio segment and based on impairment method as of June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 Construction and Land Development Farmland and Agricultural Production Residential 1-4 Family Multifamily Commercial Real Estate Commercial Consumer and other Total Period-ended amount allocated to: Individually evaluated for impairment $ — $ — $ 25 $ — $ — $ 37 $ — $ 62 Collectively evaluated for impairment 798 27 1,022 95 6,394 3,858 164 12,358 Ending balance $ 798 $ 27 $ 1,047 $ 95 $ 6,394 $ 3,895 $ 164 $ 12,420 Loans: Individually evaluated for impairment $ — $ — $ 1,689 $ — $ 6,749 $ 4,285 $ 2 $ 12,725 Collectively evaluated for impairment 19,612 8,604 108,130 29,829 356,826 183,495 8,562 715,058 Ending balance $ 19,612 $ 8,604 $ 109,819 $ 29,829 $ 363,575 $ 187,780 $ 8,564 $ 727,783 December 31, 2014 Period-ended amount allocated to: Individually evaluated for impairment $ — — $ 29 $ — $ — $ 561 $ — $ 590 Collectively evaluated for impairment 758 459 1,170 67 6,828 3,735 298 13,315 Ending balance $ 758 $ 459 $ 1,199 $ 67 $ 6,828 $ 4,296 $ 298 $ 13,905 Loans: Individually evaluated for impairment $ — — $ 2,020 $ — $ 9,084 $ 4,495 $ 11 $ 15,610 Collectively evaluated for impairment 18,700 9,350 98,753 24,426 344,889 166,957 10,695 673,770 Ending balance $ 18,700 $ 9,350 $ 100,773 $ 24,426 $ 353,973 $ 171,452 $ 10,706 $ 689,380 The following table provides additional detail of the activity in the allowance for loan losses, by portfolio segment, for the three months ended June 30, 2015 and 2014 (in thousands): June 30, 2015 Construction and Land Development Farmland and Agricultural Production Residential 1-4 Family Multifamily Commercial Real Estate Commercial Consumer and other Total Allowance for loan losses: Beginning balance $ 731 $ 439 $ 1,146 $ 97 $ 7,162 $ 3,917 $ 286 $ 13,778 Provision for loan losses 49 (412 ) 3 (2 ) (672 ) 410 (125 ) (749 ) Loans charged-off — — (123 ) — (105 ) (507 ) (2 ) (737 ) Recoveries of loans previously charged-off 18 — 21 — 9 75 5 128 Ending balance $ 798 $ 27 $ 1,047 $ 95 $ 6,394 $ 3,895 $ 164 $ 12,420 June 30, 2014 Allowance for loan losses: Beginning balance $ 1,455 $ 404 $ 1,540 $ 306 $ 8,624 $ 3,757 $ 265 $ 16,351 Provision for loan losses (334 ) 49 (266 ) (202 ) 1,327 66 27 667 Loans charged-off — — (88 ) — (2,494 ) (264 ) — (2,846 ) Recoveries of loans previously charged-off 18 — 5 — 149 39 — 211 Ending balance $ 1,139 $ 453 $ 1,191 $ 104 $ 7,606 $ 3,598 $ 292 $ 14,383 |
Impaired Financing Receivables | The interest income recognized column represents all interest income reported after the loan became impaired. June 30, 2015 Three Months Ended Six Months Ended Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized With no related allowance recorded: Construction and Land Development $ — $ — $ — $ — $ — $ — $ — Farmland and Agricultural Production — — — — — — — Residential 1-4 Family 1,255 1,216 — 1,230 16 1,335 31 Multifamily — — — — — — — Commercial Real Estate Retail — — — — — — — Office 502 502 — 504 5 506 13 Industrial and Warehouse 1,993 1,907 — 1,907 — 1,907 — Health Care — — — — — — Other 7,007 4,340 — 5,300 27 5,755 59 Commercial 4,782 4,185 — 3,812 33 3,719 66 Consumer and other 2 2 — 3 — 6 — With an allowance recorded: Construction and Land Development — — — — — — — Farmland and Agricultural Production — — — — — — — Residential 1-4 Family 473 473 25 474 5 474 11 Multifamily — — — — — — — Commercial Real Estate Retail — — — — — — — Office — — — — — — — Industrial and Warehouse — — — — — — — Health Care — — — — — — — Other — — — 160 — 107 — Commercial 100 100 37 375 — 570 — Consumer and other — — — — — — — Total $ 16,114 $ 12,725 $ 62 $ 13,765 $ 86 $ 14,379 $ 180 December 31, 2014 Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized With no related allowance recorded: Construction and Land Development $ — $ — $ — $ — $ — Farmland and Agricultural Production — — — — — Residential 1-4 Family 1,732 1,543 — 1,298 63 Multifamily — — — 119 — Commercial Real Estate Retail — — — 707 — Office 511 510 — 779 25 Industrial and Warehouse 1,994 1,907 — 1,550 — Health Care — — — — Other 9,658 6,667 — 6,126 — Commercial 3,733 3,534 — 4,147 — Consumer and other 20 11 — 14 — With an allowance recorded: Construction and Land Development — — — 887 — Farmland and Agricultural Production — — — — — Residential 1-4 Family 477 477 29 637 31 Multifamily — — — — — Commercial Real Estate Retail — — — 1,907 — Office — — — — — Industrial and Warehouse — — — — — Health Care — — — — — Other — — — 1,084 — Commercial 1,312 961 561 453 — Consumer and other — — — — — Total $ 19,437 $ 15,610 $ 590 $ 19,708 $ 119 |
Schedule of Roll Forward Activity of Trouble Debt Restructuring Loans | The following presents a rollfoward activity of troubled debt restructurings (in thousands, except number of loans): Six months ended June 30, 2015 Recorded Investment Number of Loans Balance, beginning $ 5,621 10 Additions to troubled debt restructurings — — Removal of troubled debt restructurings (309 ) (1 ) Charge-off related to troubled debt restructurings — — Transfers to other real estate owned — — Repayments and other reductions (139 ) (1 ) Balance, ending $ 5,173 8 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Deposits [Abstract] | |
Composition of Interest-bearing Deposits | The composition of interest-bearing deposits was as follows (in thousands): June 30, 2015 December 31, 2014 NOW and money market accounts $ 326,592 $ 269,977 Savings 33,567 30,211 Time deposit certificates of $250,000 or more 56,257 50,682 Time deposit certificates of $100,000 to $250,000 136,810 145,506 Other time deposit certificates 106,635 114,705 $ 659,861 $ 611,081 |
Composition of Brokered Deposits | The composition of brokered deposits included in deposits was as follows (in thousands): June 30, 2015 December 31, 2014 NOW and money market accounts $ 33,356 $ — Time deposit certificates 9,404 9,145 $ 42,760 $ 9,145 |
Other Borrowed Funds (Tables)
Other Borrowed Funds (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Other Borrowed Funds | The composition of other borrowed funds was as follows (in thousands): June 30, 2015 December 31, 2014 Securities sold under agreements to repurchase $ 30,038 $ 29,059 Secured borrowings 14,060 — Mortgage note payable — 470 $ 44,098 $ 29,529 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense recognized is as follows (in thousands): Six months ended June 30, 2015 2014 Current $ 179 $ 647 Deferred 1,877 141 $ 2,056 $ 788 |
Schedule of Effective Income Tax Rate Reconciliation | The table below presents a reconciliation of the amount of income taxes determined by applying the U.S. federal income tax rate to pretax income (in thousands): Six months ended June 30, 2015 2014 Federal income tax at statutory rate $ 2,102 $ 967 Increase (decrease) due to: Federal tax exempt (254 ) (135 ) State income tax, net of federal benefit 307 173 Benefit of income taxed at lower rate (60 ) 28 Tax exempt income (16 ) (10 ) Cash surrender value of life insurance (22 ) (164 ) Other (1 ) (71 ) $ 2,056 $ 788 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consist of (in thousands): June 30, 2015 December 31, 2014 Deferred tax assets: Allowance for loan losses $ 4,275 $ 4,836 Merger expenses 146 156 Organization expenses 240 262 Net operating losses 6,865 8,320 Contribution carryforward 38 38 Restricted stock 159 — Non-qualified stock options 631 860 Foreclosed assets 308 291 Tax Credits 416 374 Other — 76 13,078 15,213 Deferred tax liabilities: Depreciation (233 ) (334 ) Unrealized gains on securities available for sale (350 ) (484 ) Other (5 ) (162 ) (588 ) (980 ) Net deferred tax asset $ 12,490 $ 14,233 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | The following table summarizes data concerning stock options (aggregate intrinsic value in thousands): June 30, 2015 Shares Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding at beginning of year 1,089,404 $ 7.00 $ — Granted 217,500 5.20 294 Exercised — — — Canceled — — — Expired — — — Forfeited (1,100 ) 8.30 — Outstanding at end of period 1,305,804 $ 6.70 $ 834 Exercisable at end of period 1,088,304 $ 6.99 $ 541 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable | Information pertaining to options outstanding at June 30, 2015 is as follows: Exercise Prices Number Outstanding Weighted Average Remaining Life (yrs) Number Exercisable $5.00 364,376 4.04 364,376 $5.20 217,500 9.52 — $5.53 6,000 4.84 6,000 $6.25 30,600 4.42 30,600 $6.38 10,000 0.81 10,000 $7.50 433,700 2.07 433,700 $8.00 4,000 4.22 4,000 $9.25 239,628 2.88 239,628 1,305,804 1,088,304 |
Schedule of Nonvested Restricted Stock Units Activity | The following is a summary of nonvested restricted stock units: June 30, 2015 Number of Shares Weighted Average Grant Date Fair Value Outstanding at beginning of year 212,020 $ 3.95 Granted 53,600 5.31 Vested (202,020 ) 3.97 Canceled — — Forfeited — — Nonvested shares, end of period 63,600 $ 5.06 |
Concentrations, Commitments a30
Concentrations, 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 (in thousands): June 30, 2015 December 31, 2014 Commitments to extend credit $ 141,342 $ 132,693 Standby letters of credit 10,335 10,169 Performance letters of credit 737 440 $ 152,414 $ 143,302 |
Capital and Regulatory Matters
Capital and Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The Company’s and the Bank’s capital amounts and ratios are presented in the following table (dollar amounts in thousands): Actual Minimum Capital Requirement Minimum To Be Well Capitalized under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio June 30, 2015 Total capital (to risk-weighted assets) Consolidated $ 118,352 15.08 % $ 62,795 8.00 % N/A N/A First Community Financial Bank 123,983 15.84 % 62,608 8.00 % $ 78,260 10.00 % Tier 1 capital (to risk-weighted assets) Consolidated 90,041 11.47 % 47,096 6.00 % N/A N/A First Community Financial Bank 113,992 14.59 % 46,956 6.00 % 62,795 8.00 % Common equity tier 1 capital Consolidated 90,041 11.47 % 55,684 6.00 % N/A N/A First Community Financial Bank 113,992 14.59 % 55,684 6.00 % 50,869 6.50 % Tier 1 leverage ratio Consolidated 90,041 9.70 % 55,684 6.00 % N/A N/A First Community Financial Bank 113,992 12.30 % 55,684 6.00 % 39,130 5.00 % December 31, 2014 Total capital (to risk-weighted assets) Consolidated $ 115,341 13.55 % $ 60,400 8.00 % N/A N/A First Community Financial Bank 111,470 14.79 % 60,289 8.00 % $ 75,361 10.00 % Tier 1 capital (to risk-weighted assets) Consolidated 77,547 10.27 % 30,200 4.00 % N/A N/A First Community Financial Bank 101,997 13.53 % 30,144 4.00 % 45,217 6.00 % Tier 1 capital (to average assets) Consolidated 77,547 8.55 % 36,281 4.00 % N/A N/A First Community Financial Bank 101,997 11.23 % 36,324 4.00 % 45,405 5.00 % |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 , segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): June 30, 2015 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Securities Available for Sale: Government sponsored enterprises $ 27,998 $ — $ 27,998 $ — Residential collateralized mortgage obligations 41,068 — 41,068 — Residential mortgage backed securities 38,516 — 38,516 — State and political subdivisions 75,400 — 73,900 1,500 Derivative financial instruments 292 — 292 — Financial Liabilities Derivative financial instruments 292 — 292 — December 31, 2014 Financial Assets Securities Available for Sale: Government sponsored enterprises $ 30,951 $ — $ 30,951 $ — Residential collateralized mortgage obligations 44,274 — 44,274 — Residential mortgage backed securities 27,217 — 27,217 — State and political subdivisions 66,245 — 64,731 1,514 Derivative financial instruments 314 — 314 — Financial Liabilities Derivative financial instruments 314 — 314 — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following tables present additional information about assets and liabilities measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) State and political subdivisions Beginning balance, December 31, 2014 $ 1,514 Total gains or losses (realized/unrealized) included in other comprehensive income (14 ) Included in earnings — Purchases — Paydowns and maturities — Transfers in and/or out of Level 3 — Ending balance, June 30, 2015 $ 1,500 Beginning balance, December 31, 2013 $ 2,719 Total gains or losses (realized/unrealized) included in other comprehensive income (19 ) Included in earnings — Purchases — Paydowns and maturities (1,245 ) Transfers in and/or out of Level 3 — Ending balance, June 30, 2014 $ 1,455 |
Fair Value Measurements, Nonrecurring | Assets measured at fair value on a nonrecurring basis are set forth below: June 30, 2015 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial Assets Mortgage loans held for sale $ 1,449 — — $ 1,449 Impaired loans $ 12,663 — — $ 12,663 Foreclosed assets 4,248 — — 4,248 December 31, 2014 Financial Assets Mortgage loans held for sale $ 738 — — $ 738 Impaired loans $ 15,020 — — $ 15,020 Foreclosed assets 2,530 — — 2,530 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Estimate Valuation Techniques Unobservable Input Discount Range Assets June 30, 2015 Mortgage loans held for sale $ 1,449 Secondary market pricing Selling costs — Impaired loans 12,663 Appraisal of Collateral Appraisal adjustments Selling costs 10% to 25% Foreclosed assets 4,248 Appraisal of Collateral Selling costs 10.00% December 31, 2014 Mortgage loans held for sale 738 Secondary market pricing Selling costs — Impaired loans 15,020 Appraisal of Collateral Appraisal adjustments Selling costs 10% to 25% Foreclosed assets 2,530 Appraisal of Collateral Selling costs 10.00% |
Fair Value, by Balance Sheet Grouping | The estimated fair values of the Company’s financial instruments are as follows as of June 30, 2015 (in thousands): Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and due from banks $ 9,669 $ 9,669 $ 9,669 $ — $ — Interest-bearing deposits in banks 38,390 38,390 38,390 — — Securities available for sale 182,982 182,982 — 181,482 1,500 Nonmarketable equity securities 1,367 1,367 — — 1,367 Loans, net 715,377 712,796 — — 712,796 Accrued interest receivable 2,678 2,678 2,678 — — Derivative financial instruments 292 292 — 292 — Financial liabilities: Non-interest bearing deposits 174,527 174,527 174,527 — — Interest-bearing deposits 659,861 652,819 292,660 — 360,159 Other borrowed funds 44,098 43,587 43,587 — — Subordinated debt 15,300 15,168 — — 15,168 Accrued interest payable 1,314 1,314 1,314 — — Derivative financial instruments 292 292 — 292 — The estimated fair values of the Company’s financial instruments are as follows as of December 31, 2014 (in thousands): Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and due from banks $ 13,329 $ 13,329 $ 13,329 $ — $ — Interest-bearing deposits in banks 19,667 19,667 19,667 — — Securities available for sale 168,687 168,687 — 167,173 1,514 Nonmarketable equity securities 1,367 1,367 — — 1,367 Mortgage loans held for sale 738 738 — — 738 Loans, net 675,288 675,287 — — 675,287 Accrued interest receivable 2,396 2,396 2,396 — — Derivative financial instruments 314 314 — 314 — Financial liabilities: Non-interest bearing deposits 158,329 158,329 158,329 — — Interest-bearing deposits 611,081 604,726 300,188 — 304,538 Other borrowed funds 29,529 28,957 28,957 — — Subordinated debt 29,133 28,819 — — 28,819 Accrued interest payable 1,029 1,029 1,029 — — Derivative financial instruments 314 314 — 314 — |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Undistributed earnings allocated to common shareholders | $ 2,342 | $ 1,470 | $ 3,950 | $ 1,974 |
Preferred stock dividends and discount accretion | 0 | (144) | 0 | (288) |
Net income applicable to common shareholders | $ 2,342 | $ 1,326 | $ 3,950 | $ 1,686 |
Weighted average common shares outstanding for basic earnings per common share | 16,970,721 | 16,548,399 | 16,870,372 | 16,474,053 |
Dilutive effect of stock-based compensation | 117,381 | 191,991 | 139,027 | 218,110 |
Weighted average shares outstanding for diluted earnings per common share | 17,088,102 | 16,740,390 | 17,009,399 | 16,692,163 |
Basic earnings per common share | $ 0.14 | $ 0.08 | $ 0.23 | $ 0.10 |
Diluted earnings per common share | $ 0.14 | $ 0.08 | $ 0.23 | $ 0.10 |
Securities Available for Sale34
Securities Available for Sale (Amortized Cost and Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 182,084 | $ 167,447 |
Gross Unrealized Gains | 1,753 | 1,557 |
Gross Unrealized Losses | 855 | 317 |
Securities available for sale | 182,982 | 168,687 |
Available-for-sale Securities Pledged as Collateral | 44,100 | 40,500 |
Government sponsored enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 27,802 | 30,904 |
Gross Unrealized Gains | 196 | 83 |
Gross Unrealized Losses | 0 | 36 |
Securities available for sale | 27,998 | 30,951 |
Residential collateralized mortgage obligations | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 40,898 | 44,095 |
Gross Unrealized Gains | 234 | 241 |
Gross Unrealized Losses | 64 | 62 |
Securities available for sale | 41,068 | 44,274 |
Residential mortgage backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 38,344 | 27,208 |
Gross Unrealized Gains | 269 | 137 |
Gross Unrealized Losses | 97 | 128 |
Securities available for sale | 38,516 | 27,217 |
State and political subdivisions | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 75,040 | 65,240 |
Gross Unrealized Gains | 1,054 | 1,096 |
Gross Unrealized Losses | 694 | 91 |
Securities available for sale | $ 75,400 | $ 66,245 |
Securities Available for Sale35
Securities Available for Sale (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gain on sale of securities | $ 0 | $ 38 | $ 21 | $ 38 |
Securities Available for Sale36
Securities Available for Sale (Securities Segregated by Maturity Dates) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Amortized Cost | ||
Within 1 year | $ 9,055 | |
Over 1 year through 5 years | 44,040 | |
Over 5 years through 10 years | 33,368 | |
Over 5 years through 10 years | 16,379 | |
Residential collateralized mortgage obligations and mortgage backed securities | 79,242 | |
Amortized Cost | 182,084 | $ 167,447 |
Fair Value | ||
Within 1 year | 9,085 | |
Over 1 year through 5 years | 44,557 | |
Over 5 years through 10 years | 33,332 | |
Over 10 years | 16,424 | |
Residential collateralized mortgage obligations and mortgage backed securities | 79,584 | |
Fair Value | $ 182,982 | $ 168,687 |
Loans (Balances) (Details)
Loans (Balances) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 727,783 | $ 689,380 |
Net deferred loan fees | 14 | (187) |
Allowance for loan losses | (12,420) | (13,905) |
Loans, Net | 715,377 | 675,288 |
Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 19,612 | 18,700 |
Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 8,604 | 9,350 |
Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 109,819 | 100,773 |
Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 29,829 | 24,426 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 363,575 | 353,973 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 187,780 | 171,452 |
Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 8,564 | $ 10,706 |
Loans (Contractual Aging of the
Loans (Contractual Aging of the Recorded Investment in Past Due and Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | $ 723,598 | $ 682,433 |
Non-accrual Loans | 4,185 | 6,947 |
Total Loans | 727,783 | 689,380 |
Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 19,612 | 18,700 |
Non-accrual Loans | 0 | 0 |
Total Loans | 19,612 | 18,700 |
Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 8,604 | 9,350 |
Non-accrual Loans | 0 | 0 |
Total Loans | 8,604 | 9,350 |
Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 109,757 | 100,394 |
Non-accrual Loans | 62 | 379 |
Total Loans | 109,819 | 100,773 |
Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 29,829 | 24,426 |
Non-accrual Loans | 0 | 0 |
Total Loans | 29,829 | 24,426 |
Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 363,575 | 353,973 |
Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 88,610 | 91,725 |
Non-accrual Loans | 0 | 0 |
Total Loans | 88,610 | 91,725 |
Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 46,185 | 44,255 |
Non-accrual Loans | 0 | 0 |
Total Loans | 46,185 | 44,255 |
Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 66,808 | 57,410 |
Non-accrual Loans | 1,907 | 1,907 |
Total Loans | 68,715 | 59,317 |
Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 27,898 | 26,974 |
Non-accrual Loans | 0 | 0 |
Total Loans | 27,898 | 26,974 |
Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 131,681 | 128,940 |
Non-accrual Loans | 486 | 2,762 |
Total Loans | 132,167 | 131,702 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 186,052 | 169,563 |
Non-accrual Loans | 1,728 | 1,889 |
Total Loans | 187,780 | 171,452 |
Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 8,562 | 10,696 |
Non-accrual Loans | 2 | 10 |
Total Loans | 8,564 | 10,706 |
Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 723,046 | 682,074 |
Current | Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 19,612 | 18,619 |
Current | Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 8,604 | 9,350 |
Current | Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 109,688 | 100,285 |
Current | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 29,829 | 24,426 |
Current | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 88,610 | 91,725 |
Current | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 46,185 | 44,255 |
Current | Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 66,808 | 57,410 |
Current | Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 27,898 | 26,974 |
Current | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 131,404 | 128,940 |
Current | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 185,876 | 169,395 |
Current | Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 8,532 | 10,695 |
30-59 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 99 | 1 |
30-59 Days Past Due | Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 69 | 0 |
30-59 Days Past Due | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
30-59 Days Past Due | Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 30 | 1 |
60-89 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 398 | 308 |
60-89 Days Past Due | Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 81 |
60-89 Days Past Due | Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 109 |
60-89 Days Past Due | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
60-89 Days Past Due | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 277 | 0 |
60-89 Days Past Due | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 121 | 118 |
60-89 Days Past Due | Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 55 | 50 |
90 Days Past Due and Still Accruing | Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 0 | 0 |
90 Days Past Due and Still Accruing | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | 55 | 50 |
90 Days Past Due and Still Accruing | Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Accruing Loans | $ 0 | $ 0 |
Loans (Risk Category of Loans E
Loans (Risk Category of Loans Evaluated by Internal Asset Classification) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | $ 609,400 | $ 577,901 |
Financing receivable residential, consumer and other | 118,383 | 111,479 |
Performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable residential, consumer and other | 118,319 | 111,090 |
Non-performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable residential, consumer and other | 64 | 389 |
Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 579,176 | 535,653 |
Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 22,667 | 31,252 |
Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,671 | 5,445 |
Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,886 | 5,551 |
Residential 1-4 Family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109,819 | 100,773 |
Residential 1-4 Family | Performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 109,757 | 100,394 |
Residential 1-4 Family | Non-performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 62 | 379 |
Construction and Land Development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 19,612 | 18,700 |
Construction and Land Development | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 15,966 | 14,900 |
Construction and Land Development | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,646 | 3,800 |
Construction and Land Development | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Construction and Land Development | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland and Agricultural Production | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,604 | 9,350 |
Farmland and Agricultural Production | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,604 | 9,350 |
Farmland and Agricultural Production | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland and Agricultural Production | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Farmland and Agricultural Production | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 29,829 | 24,426 |
Multifamily | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 29,142 | 24,426 |
Multifamily | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 687 | 0 |
Multifamily | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Multifamily | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 88,610 | 91,725 |
Commercial Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 46,185 | 44,255 |
Commercial Real Estate | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 68,715 | 59,317 |
Commercial Real Estate | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 27,898 | 26,974 |
Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 132,167 | 131,702 |
Commercial Real Estate | Pass | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 80,608 | 78,258 |
Commercial Real Estate | Pass | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 46,185 | 44,255 |
Commercial Real Estate | Pass | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 65,949 | 56,316 |
Commercial Real Estate | Pass | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 27,898 | 26,974 |
Commercial Real Estate | Pass | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 125,685 | 121,526 |
Commercial Real Estate | Special Mention | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,002 | 13,467 |
Commercial Real Estate | Special Mention | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Special Mention | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 859 | 1,094 |
Commercial Real Estate | Special Mention | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Special Mention | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 2,820 | 4,185 |
Commercial Real Estate | Substandard | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Substandard | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Substandard | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Substandard | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Substandard | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 3,267 | 3,329 |
Commercial Real Estate | Doubtful | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Doubtful | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Doubtful | Industrial and Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,907 | 1,907 |
Commercial Real Estate | Doubtful | Health Care | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Real Estate | Doubtful | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 395 | 2,662 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 187,780 | 171,452 |
Commercial | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 179,139 | 159,648 |
Commercial | Special Mention | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 6,653 | 8,706 |
Commercial | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 404 | 2,116 |
Commercial | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 1,584 | 982 |
Consumer and other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,564 | 10,706 |
Consumer and other | Performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | 8,562 | 10,696 |
Consumer and other | Non-performing | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable | $ 2 | $ 10 |
Loans (Activity in the Allowanc
Loans (Activity in the Allowance for Loan Losses, by Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | $ 13,778 | $ 16,351 | $ 13,905 | $ 15,820 |
Provision for loan losses | (749) | 667 | (749) | 2,667 |
Loans charged-off | (737) | (2,846) | 1,072 | (5,102) |
Recoveries of loans previously charged-off | 128 | 211 | 336 | 998 |
Ending balance | 12,420 | 14,383 | 12,420 | 14,383 |
Construction and Land Development | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 731 | 1,455 | 758 | 2,711 |
Provision for loan losses | 49 | (334) | 5 | (424) |
Loans charged-off | 0 | 0 | 0 | (1,186) |
Recoveries of loans previously charged-off | 18 | 18 | 35 | 38 |
Ending balance | 798 | 1,139 | 798 | 1,139 |
Farmland and Agricultural Production | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 439 | 404 | 459 | 427 |
Provision for loan losses | (412) | 49 | (432) | 26 |
Loans charged-off | 0 | 0 | 0 | 0 |
Recoveries of loans previously charged-off | 0 | 0 | 0 | 0 |
Ending balance | 27 | 453 | 27 | 453 |
Residential 1-4 Family | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 1,146 | 1,540 | 1,199 | 1,440 |
Provision for loan losses | 3 | (266) | (128) | (112) |
Loans charged-off | (123) | (88) | (195) | (156) |
Recoveries of loans previously charged-off | 21 | 5 | 171 | 19 |
Ending balance | 1,047 | 1,191 | 1,047 | 1,191 |
Multifamily | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 97 | 306 | 67 | 97 |
Provision for loan losses | (2) | (202) | 28 | 7 |
Loans charged-off | 0 | 0 | $ 0 | 0 |
Recoveries of loans previously charged-off | 0 | 0 | 0 | |
Ending balance | 95 | 104 | $ 95 | 104 |
Commercial Real Estate | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 7,162 | 8,624 | 6,828 | 7,812 |
Provision for loan losses | (672) | 1,327 | (347) | 1,646 |
Loans charged-off | (105) | (2,494) | (104) | (2,677) |
Recoveries of loans previously charged-off | 9 | 149 | 17 | 825 |
Ending balance | 6,394 | 7,606 | 6,394 | 7,606 |
Commercial | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 3,917 | 3,757 | 4,296 | 3,183 |
Provision for loan losses | 410 | 66 | 263 | 1,372 |
Loans charged-off | (507) | (264) | (770) | (1,067) |
Recoveries of loans previously charged-off | 75 | 39 | 106 | 110 |
Ending balance | 3,895 | 3,598 | 3,895 | 3,598 |
Consumer and other | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 286 | 265 | 298 | 150 |
Provision for loan losses | (125) | 27 | (138) | 152 |
Loans charged-off | (2) | 0 | 3 | (16) |
Recoveries of loans previously charged-off | 5 | 0 | 7 | 6 |
Ending balance | $ 164 | $ 292 | $ 164 | $ 292 |
Loans (Balance in the Allowance
Loans (Balance in the Allowance for Loan Losses and the Unpaid Principal Balance of Loans by Portfolio Segment) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | $ 62 | $ 590 | ||||
Collectively evaluated for impairment | 12,358 | 13,315 | ||||
Ending balance | 12,420 | $ 13,778 | 13,905 | $ 14,383 | $ 16,351 | $ 15,820 |
Individually evaluated for impairment | 12,725 | 15,610 | ||||
Collectively evaluated for impairment | 715,058 | 673,770 | ||||
Total Loans | 727,783 | 689,380 | ||||
Construction and Land Development | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 798 | 758 | ||||
Ending balance | 798 | 731 | 758 | 1,139 | 1,455 | 2,711 |
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 19,612 | 18,700 | ||||
Total Loans | 19,612 | 18,700 | ||||
Farmland and Agricultural Production | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 27 | 459 | ||||
Ending balance | 27 | 439 | 459 | 453 | 404 | 427 |
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 8,604 | 9,350 | ||||
Total Loans | 8,604 | 9,350 | ||||
Residential 1-4 Family | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 25 | 29 | ||||
Collectively evaluated for impairment | 1,022 | 1,170 | ||||
Ending balance | 1,047 | 1,146 | 1,199 | 1,191 | 1,540 | 1,440 |
Individually evaluated for impairment | 1,689 | 2,020 | ||||
Collectively evaluated for impairment | 108,130 | 98,753 | ||||
Total Loans | 109,819 | 100,773 | ||||
Multifamily | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 95 | 67 | ||||
Ending balance | 95 | 97 | 67 | 104 | 306 | 97 |
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 29,829 | 24,426 | ||||
Total Loans | 29,829 | 24,426 | ||||
Commercial Real Estate | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 6,394 | 6,828 | ||||
Ending balance | 6,394 | 7,162 | 6,828 | 7,606 | 8,624 | 7,812 |
Individually evaluated for impairment | 6,749 | 9,084 | ||||
Collectively evaluated for impairment | 356,826 | 344,889 | ||||
Total Loans | 363,575 | 353,973 | ||||
Commercial | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 37 | 561 | ||||
Collectively evaluated for impairment | 3,858 | 3,735 | ||||
Ending balance | 3,895 | 3,917 | 4,296 | 3,598 | 3,757 | 3,183 |
Individually evaluated for impairment | 4,285 | 4,495 | ||||
Collectively evaluated for impairment | 183,495 | 166,957 | ||||
Total Loans | 187,780 | 171,452 | ||||
Consumer and other | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 164 | 298 | ||||
Ending balance | 164 | $ 286 | 298 | $ 292 | $ 265 | $ 150 |
Individually evaluated for impairment | 2 | 11 | ||||
Collectively evaluated for impairment | 8,562 | 10,695 | ||||
Total Loans | $ 8,564 | $ 10,706 |
Loans (Additional Detail of Imp
Loans (Additional Detail of Impaired loans, Segregated by Class) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Unpaid Principal Balance | |||
Total | $ 16,114 | $ 16,114 | $ 19,437 |
Recorded Investment | |||
Total | 12,725 | 12,725 | 15,610 |
Allowance for Loan Losses Allocated | |||
Total | 62 | 62 | 590 |
Average Recorded Investment | |||
Total | 13,765 | 14,379 | 19,708 |
Interest Income Recognized | |||
Total | 86 | 180 | 119 |
Consumer and other | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 2 | 2 | 20 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 2 | 2 | 11 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 3 | 6 | 14 |
With an allowance recorded: | 0 | 0 | 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Commercial | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 4,782 | 4,782 | 3,733 |
With an allowance recorded: | 100 | 100 | 1,312 |
Recorded Investment | |||
With no related allowance recorded: | 4,185 | 4,185 | 3,534 |
With an allowance recorded: | 100 | 100 | 961 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 37 | 37 | 561 |
Average Recorded Investment | |||
With no related allowance recorded: | 3,812 | 3,719 | 4,147 |
With an allowance recorded: | 375 | 570 | 453 |
Interest Income Recognized | |||
With no related allowance recorded: | 33 | 66 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Construction and Land Development | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 887 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Farmland and Agricultural Production | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Residential 1-4 Family | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 1,255 | 1,255 | 1,732 |
With an allowance recorded: | 473 | 473 | 477 |
Recorded Investment | |||
With no related allowance recorded: | 1,216 | 1,216 | 1,543 |
With an allowance recorded: | 473 | 473 | 477 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 25 | 25 | 29 |
Average Recorded Investment | |||
With no related allowance recorded: | 1,230 | 1,335 | 1,298 |
With an allowance recorded: | 474 | 474 | 637 |
Interest Income Recognized | |||
With no related allowance recorded: | 16 | 31 | 63 |
With an allowance recorded: | 5 | 11 | 31 |
Multifamily | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 119 |
With an allowance recorded: | 0 | 0 | 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Commercial Real Estate | Retail | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 707 |
With an allowance recorded: | 0 | 0 | 1,907 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Commercial Real Estate | Office | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 502 | 502 | 511 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 502 | 502 | 510 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 504 | 506 | 779 |
With an allowance recorded: | 0 | 0 | 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 5 | 13 | 25 |
With an allowance recorded: | 0 | 0 | 0 |
Commercial Real Estate | Industrial and Warehouse | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 1,993 | 1,993 | 1,994 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 1,907 | 1,907 | 1,907 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 1,907 | 1,907 | 1,550 |
With an allowance recorded: | 0 | 0 | 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Commercial Real Estate | Health Care | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | $ 0 | 0 | $ 0 |
Interest Income Recognized | |||
With no related allowance recorded: | 0 | ||
With an allowance recorded: | $ 0 | 0 | $ 0 |
Commercial Real Estate | Consumer and other | |||
Unpaid Principal Balance | |||
With no related allowance recorded: | 7,007 | 7,007 | 9,658 |
With an allowance recorded: | 0 | 0 | 0 |
Recorded Investment | |||
With no related allowance recorded: | 4,340 | 4,340 | 6,667 |
With an allowance recorded: | 0 | 0 | 0 |
Allowance for Loan Losses Allocated | |||
With no related allowance recorded: | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 |
Average Recorded Investment | |||
With no related allowance recorded: | 5,300 | 5,755 | 6,126 |
With an allowance recorded: | 160 | 107 | 1,084 |
Interest Income Recognized | |||
With no related allowance recorded: | 27 | 59 | 0 |
With an allowance recorded: | $ 0 | $ 0 | $ 0 |
Loans (Unpaid Principal Balance
Loans (Unpaid Principal Balance of Loans Modified in a Troubled Debt Restructuring) (Details) $ in Millions | 6 Months Ended | ||
Jun. 30, 2015USD ($)loan | Jun. 30, 2014USD ($)contract | Dec. 31, 2014USD ($) | |
Receivables [Abstract] | |||
Additions to troubled debt restructurings (in loans) | 0 | 4 | |
Pre-Modification Outstanding Recorded Investment | $ 3.2 | ||
Troubled Debt Restructuring, Accruing | $ 2.8 | $ 2.8 | |
Troubled Debt Restructuring, Non-accruing | $ 2.4 | $ 2.8 |
Loans (Rollforward Activity of
Loans (Rollforward Activity of Troubled Debt Restructurings) (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($)loan | Jun. 30, 2014contract | |
Recorded Investment | ||
Balance, beginning | $ 5,621 | |
Additions to troubled debt restructurings | 0 | |
Removal of troubled debt restructurings | (309) | |
Charge-off related to troubled debt restructurings | 0 | |
Transfers to other real estate owned | 0 | |
Repayments and other reductions | (139) | |
Balance, ending | $ 5,173 | |
Number of Loans | ||
Balance, beginning (in loans) | loan | 10 | |
Additions to troubled debt restructurings (in loans) | 0 | 4 |
Removal of troubled debt restructurings (in loans) | loan | (1) | |
Charge-off related to troubled debt restructurings (in loans) | loan | 0 | |
Transfers to other real estate owned (in loans) | loan | 0 | |
Repayments and other reductions (in loans) | loan | (1) | |
Balance, ending (in loans) | loan | 8 |
Deposits (Composition of Intere
Deposits (Composition of Interest-Bearing Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deposits [Abstract] | ||
NOW and money market accounts | $ 326,592 | $ 269,977 |
Savings | 33,567 | 30,211 |
Time deposit certificates of $250,000 or more | 56,257 | 50,682 |
Time deposit certificates of $100,000 to $250,000 | 136,810 | 145,506 |
Other time deposit certificates | 106,635 | 114,705 |
Interest-bearing Deposit Liabilities | $ 659,861 | $ 611,081 |
Deposits (Composition of Broker
Deposits (Composition of Brokered Deposits) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deposits [Abstract] | ||
NOW and money market accounts | $ 33,356 | $ 0 |
Time deposit certificates | 9,404 | 9,145 |
Noninterest-bearing Deposit Liabilities | $ 42,760 | $ 9,145 |
Other Borrowed Funds (Compositi
Other Borrowed Funds (Composition of Other Borrowed Funds) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Disclosure [Abstract] | ||
Securities sold under agreements to repurchase | $ 30,038 | $ 29,059 |
Secured borrowings | 14,060 | 0 |
Mortgage note payable | 0 | 470 |
Other borrowed funds | $ 44,098 | $ 29,529 |
Other Borrowed Funds (Narrative
Other Borrowed Funds (Narrative) (Details) $ in Thousands | Jun. 29, 2015USD ($)credit_facility | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Feb. 28, 2012USD ($) |
Debt Instrument [Line Items] | ||||
Mortgage note payable | $ 0 | $ 470 | ||
First Mortgage | ||||
Debt Instrument [Line Items] | ||||
Cash on hand (as a percent) | 133.00% | |||
Home Equity Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Cash on hand (as a percent) | 200.00% | |||
First Mortgage and Equity Loans | ||||
Debt Instrument [Line Items] | ||||
Loans pledged as collateral | $ 296,500 | 267,200 | ||
Commercial, Agricultural and Consumer Loans | ||||
Debt Instrument [Line Items] | ||||
Loans pledged as collateral | $ 101,300 | $ 99,800 | ||
Revolving line of credit | ||||
Debt Instrument [Line Items] | ||||
Revolving line of credit | $ 4,000 | |||
Term loan | ||||
Debt Instrument [Line Items] | ||||
Revolving line of credit | $ 10,100 | |||
Mortgages | ||||
Debt Instrument [Line Items] | ||||
Mortgage note payable | $ 1,000 | |||
Line of Credit | ||||
Debt Instrument [Line Items] | ||||
Number of debt instruments | credit_facility | 2 | |||
Line of Credit | LIBOR | ||||
Debt Instrument [Line Items] | ||||
Interest rate | 2.25% | |||
Interest rate during period | 2.40% |
Income Taxes (Expense (Benefit)
Income Taxes (Expense (Benefit) Recognized) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Current | $ 179 | $ 647 | ||
Deferred | 1,877 | 141 | ||
Total income tax (benefit) expense | $ 1,189 | $ 557 | $ 2,056 | $ 788 |
Income Taxes (Reconciliation) (
Income Taxes (Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Federal income tax at statutory rate | $ 2,102 | $ 967 | ||
Increase (decrease) due to: | ||||
Federal tax exempt | (254) | (135) | ||
State income tax, net of federal benefit | 307 | 173 | ||
Benefit of income taxed at lower rate | (60) | 28 | ||
Tax exempt income | (16) | (10) | ||
Cash surrender value of life insurance | (22) | (164) | ||
Other | (1) | (71) | ||
Total income tax (benefit) expense | $ 1,189 | $ 557 | $ 2,056 | $ 788 |
Income Taxes (Deferred Tax Asse
Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Allowance for loan losses | $ 4,275 | $ 4,836 |
Merger expenses | 146 | 156 |
Organization expenses | 240 | 262 |
Net operating losses | 6,865 | 8,320 |
Contribution carryforward | 38 | 38 |
Restricted stock | 159 | 0 |
Non-qualified stock options | 631 | 860 |
Foreclosed assets | 308 | 291 |
Tax Credits | 416 | 374 |
Other | 0 | 76 |
Total deferred tax assets | 13,078 | 15,213 |
Deferred tax liabilities: | ||
Depreciation | (233) | (334) |
Unrealized gains on securities available for sale | (350) | (484) |
Other | (5) | (162) |
Total deferred tax liabilities | (588) | (980) |
Net deferred tax asset | $ 12,490 | $ 14,233 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Federal | ||
Income Tax Contingency [Line Items] | ||
Federal net operating loss carryforwards | $ 17.3 | $ 20.3 |
Illinois | ||
Income Tax Contingency [Line Items] | ||
Federal net operating loss carryforwards | $ 14 | $ 22.6 |
Stock Compensation Plans (Narra
Stock Compensation Plans (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||||
Jan. 31, 2015 | Dec. 31, 2011 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Aug. 15, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock compensation expense | $ 511 | $ 193 | ||||
Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Remaining contractual term (in years) | 10 years | |||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted stock compensation expense | $ 407 | 123 | ||||
Unrecognized compensation expense | 182 | |||||
Restricted Stock | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares issued with performance conditions | 33,600 | |||||
Restricted Stock | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares issued with performance conditions | 170,549 | |||||
Equity Incentive Plan | Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Increase in Number of Shares Authorized (in shares) | 1,000,000 | |||||
Number of Shares Authorized (in shares) | 2,430,000 | |||||
Stock Incentive Plan and Equity Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Intrinsic value of stock options | 834 | $ 0 | ||||
Restricted stock compensation expense | 37 | $ 0 | ||||
Unrecognized compensation expense | $ 230 | |||||
Stock Incentive Plan and Equity Incentive Plan | Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 33.30% | |||||
2013 Equity Incentive Plan | Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of Shares Authorized (in shares) | 1,000,000 |
Stock Compensation Plans (Stock
Stock Compensation Plans (Stock Options) (Details) - 6 months ended Jun. 30, 2015 - Stock Incentive Plan and Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands | Total |
Shares | |
Outstanding at beginning of year | 1,089,404 |
Granted | 217,500 |
Exercised | 0 |
Canceled | 0 |
Expired | 0 |
Forfeited | (1,100) |
Outstanding at end of period | 1,305,804 |
Exercisable at end of period | 1,088,304 |
Weighted Average Exercise Price (in dollars per share) | |
Outstanding at beginning of year | $ 7 |
Granted | 5.20 |
Exercised | 0 |
Canceled | 0 |
Expired | 0 |
Forfeited | 8.30 |
Outstanding at end of period | 6.70 |
Exercisable at end of period | $ 6.99 |
Aggregate Intrinsic Value | |
Outstanding at beginning of year | $ 0 |
Granted | 294 |
Outstanding at end of period | 834 |
Exercisable at end of period | $ 541 |
Stock Compensation Plans (Infor
Stock Compensation Plans (Information Pertaining to Options Outstanding) (Details) - Stock Incentive Plan and Equity Incentive Plan - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number Outstanding (in shares) | 1,305,804 | 1,089,404 |
Options Number Exercisable (in shares) | 1,088,304 | |
$ 5 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 5 | |
Number Outstanding (in shares) | 364,376 | |
Weighted Average Remaining Life (in years) | 4 years 15 days | |
Options Number Exercisable (in shares) | 364,376 | |
$ 5.20 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 5.20 | |
Number Outstanding (in shares) | 217,500 | |
Weighted Average Remaining Life (in years) | 9 years 6 months 7 days | |
Options Number Exercisable (in shares) | 0 | |
$ 5.53 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 5.53 | |
Number Outstanding (in shares) | 6,000 | |
Weighted Average Remaining Life (in years) | 4 years 10 months 2 days | |
Options Number Exercisable (in shares) | 6,000 | |
$ 6.25 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 6.25 | |
Number Outstanding (in shares) | 30,600 | |
Weighted Average Remaining Life (in years) | 4 years 5 months 1 day | |
Options Number Exercisable (in shares) | 30,600 | |
$ 6.38 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 6.38 | |
Number Outstanding (in shares) | 10,000 | |
Weighted Average Remaining Life (in years) | 9 months 22 days | |
Options Number Exercisable (in shares) | 10,000 | |
$ 7.50 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 7.50 | |
Number Outstanding (in shares) | 433,700 | |
Weighted Average Remaining Life (in years) | 2 years 26 days | |
Options Number Exercisable (in shares) | 433,700 | |
$ 8 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 8 | |
Number Outstanding (in shares) | 4,000 | |
Weighted Average Remaining Life (in years) | 4 years 2 months 19 days | |
Options Number Exercisable (in shares) | 4,000 | |
$ 9.25 | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercise Prices (in dollars per share) | $ 9.25 | |
Number Outstanding (in shares) | 239,628 | |
Weighted Average Remaining Life (in years) | 2 years 10 months 17 days | |
Options Number Exercisable (in shares) | 239,628 |
Stock Compensation Plans (Summa
Stock Compensation Plans (Summary of Nonvested Restricted Shares) (Details) - Restricted Stock - $ / shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2015 | |
Number of Shares | ||
Outstanding at beginning of year (in shares) | 212,020 | |
Granted (in shares) | 53,600 | |
Vested (in shares) | (202,020) | |
Canceled (in shares) | 0 | |
Forfeited (in shares) | 0 | |
Non-vested shares, end of period (in shares) | 212,020 | 63,600 |
Weighted Average Grant Date Fair Value (in dollars per share) | ||
Outstanding at beginning of year | $ 3.95 | |
Granted | 5.31 | |
Vested | 3.97 | |
Canceled | 0 | |
Forfeited | 0 | |
Nonvested shares, end of period | $ 5.06 |
Concentrations, Commitments a57
Concentrations, Commitments and Contingencies (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments to extend credit | $ 141,342 | $ 132,693 |
Standby letters of credit | 10,335 | 10,169 |
Performance letters of credit | 737 | 440 |
Total | $ 152,414 | $ 143,302 |
Capital and Regulatory Matter58
Capital and Regulatory Matters (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Period During Which Bank Remains Subject to De Novo Bank Requirements (in years) | 7 years | |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital to Risk Weighted Assets | $ 118,352 | $ 115,341 |
Capital to Risk Weighted Assets (as a percent) | 15.08% | 13.55% |
Capital Required for Capital Adequacy | $ 62,795 | $ 60,400 |
Tier One Risk Based Capital | $ 90,041 | $ 77,547 |
Tier One Risk Based Capital to Risk Weighted Assets (as a percent) | 11.47% | 10.27% |
Tier One Risk Based Capital Required for Capital Adequacy | $ 47,096 | $ 30,200 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets (as a percent) | 6.00% | 4.00% |
Tier One Leverage Capital to Average Assets (as a percent) | 9.70% | 8.55% |
Tier One Leverage Capital Required for Capital Adequacy | $ 55,684 | $ 36,281 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (as a percent) | 6.00% | 4.00% |
First Community Financial Bank | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital to Risk Weighted Assets | $ 123,983 | $ 111,470 |
Capital to Risk Weighted Assets (as a percent) | 15.84% | 14.79% |
Capital Required for Capital Adequacy | $ 62,608 | $ 60,289 |
Capital Required to be Well Capitalized | $ 78,260 | $ 75,361 |
Capital Required to be Well Capitalized to Risk Weighted Assets (as a percent) | 10.00% | 10.00% |
Tier One Risk Based Capital | $ 113,992 | $ 101,997 |
Tier One Risk Based Capital to Risk Weighted Assets (as a percent) | 14.59% | 13.53% |
Tier One Risk Based Capital Required for Capital Adequacy | $ 46,956 | $ 30,144 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets (as a percent) | 6.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized | $ 62,795 | $ 45,217 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets (as a percent) | 8.00% | 6.00% |
Tier One Leverage Capital to Average Assets (as a percent) | 12.30% | 11.23% |
Tier One Leverage Capital Required for Capital Adequacy | $ 55,684 | $ 36,324 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (as a percent) | 6.00% | 4.00% |
Tier One Common Equity Capital Required to be Well Capitalized | $ 50,869 | |
Tier One Common Equity Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | |
Tier One Leverage Capital Required to be Well Capitalized | $ 39,130 | $ 45,405 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets (as a percent) | 5.00% | 5.00% |
Fair Value Measurements (Segreg
Fair Value Measurements (Segregated by the Level of the Valuation Inputs Within the Fair Value Hierarchy Utilized to Measure Fair Value) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | $ 182,982 | $ 168,687 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 181,482 | 167,173 |
Derivative financial instruments | 292 | 314 |
Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 1,500 | 1,514 |
Derivative financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 292 | 314 |
Derivative financial instruments | 292 | 314 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 292 | 314 |
Derivative financial instruments | 292 | 314 |
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative financial instruments | 0 | 0 |
Derivative financial instruments | 0 | 0 |
Government sponsored enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 27,998 | 30,951 |
Government sponsored enterprises | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 27,998 | 30,951 |
Government sponsored enterprises | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Government sponsored enterprises | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 27,998 | 30,951 |
Government sponsored enterprises | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Residential collateralized mortgage obligations | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 41,068 | 44,274 |
Residential collateralized mortgage obligations | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Residential collateralized mortgage obligations | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 41,068 | 44,274 |
Residential collateralized mortgage obligations | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Residential mortgage backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 38,516 | 27,217 |
Residential mortgage backed securities | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 38,516 | 27,217 |
Residential mortgage backed securities | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
Residential mortgage backed securities | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 38,516 | 27,217 |
Residential mortgage backed securities | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
State and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 75,400 | 66,245 |
State and political subdivisions | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 75,400 | 66,245 |
State and political subdivisions | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 0 | 0 |
State and political subdivisions | Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | 73,900 | 64,731 |
State and political subdivisions | Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities Available for Sale: | $ 1,500 | $ 1,514 |
Fair Value Measurements (Additi
Fair Value Measurements (Additional Information of Assets and Liabilities for which the Company has Utilized Level 3 Inputs to Determine Fair Value) (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 1,514 | $ 2,719 |
Total gains or losses (realized/unrealized) included in other comprehensive income | (14) | (19) |
Included in earnings | 0 | 0 |
Purchases | 0 | 0 |
Paydowns and maturities | 0 | (1,245) |
Transfers in and/or out of Level 3 | 0 | 0 |
Ending balance | $ 1,500 | $ 1,455 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets Measured at Fair Value on a Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 12,725 | $ 15,610 |
Foreclosed assets | 4,248 | 2,530 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,449 | 738 |
Impaired loans | 12,663 | 15,020 |
Foreclosed assets | 4,248 | 2,530 |
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 0 | 0 |
Impaired loans | 0 | 0 |
Foreclosed assets | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage loans held for sale | 1,449 | 738 |
Impaired loans | 12,663 | 15,020 |
Foreclosed assets | $ 4,248 | $ 2,530 |
Fair Value Measurements (Addi62
Fair Value Measurements (Additional Quantitative Information) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | $ 12,725 | $ 15,610 |
Foreclosed assets | 4,248 | 2,530 |
Mortgage loans held for sale | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | $ 1,449 | $ 738 |
Discount Rate (as a percent) | 0.00% | 0.00% |
Impaired loans | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | $ 12,663 | $ 15,020 |
Impaired loans | Minimum | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Appraisal, Discount Rate | 10.00% | 10.00% |
Impaired loans | Maximum | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Appraisal, Discount Rate | 25.00% | 25.00% |
Foreclosed assets | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Loans held for sale | $ 2,530 | |
Foreclosed assets | $ 4,248 | |
Discount Rate (as a percent) | 10.00% | 10.00% |
Fair Value Measurements (The Es
Fair Value Measurements (The Estimated Fair Values of the Company's Financial Instruments) (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial assets: | ||||
Cash and due from banks | $ 9,669 | $ 13,329 | $ 15,487 | $ 10,815 |
Interest-bearing deposits in banks | 38,390 | 19,667 | ||
Securities Available for Sale: | 182,982 | 168,687 | ||
Non-marketable equity securities | 1,367 | 1,367 | ||
Loans, net | 715,377 | 675,288 | ||
Financial liabilities: | ||||
Noninterest bearing | 174,527 | 158,329 | ||
Interest bearing | 659,861 | 611,081 | ||
Other borrowed funds | 44,098 | 29,529 | ||
Subordinated debt | 15,300 | 29,133 | ||
Carrying (Reported) Amount, Fair Value Disclosure | ||||
Financial assets: | ||||
Cash and due from banks | 9,669 | 13,329 | ||
Interest-bearing deposits in banks | 38,390 | 19,667 | ||
Securities Available for Sale: | 182,982 | 168,687 | ||
Non-marketable equity securities | 1,367 | 1,367 | ||
Loans, net | 715,377 | 675,288 | ||
Loans held for sale | 738 | |||
Accrued interest receivable | 2,678 | 2,396 | ||
Derivative financial instruments | 292 | 314 | ||
Financial liabilities: | ||||
Noninterest bearing | 174,527 | 158,329 | ||
Interest bearing | 659,861 | 611,081 | ||
Other borrowed funds | 44,098 | 29,529 | ||
Subordinated debt | 15,300 | 29,133 | ||
Accrued Interest Payable | 1,314 | 1,029 | ||
Derivative financial instruments | 292 | 314 | ||
Derivative financial instruments, Estimated Fair Value | 292 | 314 | ||
Estimate of Fair Value, Fair Value Disclosure | ||||
Financial assets: | ||||
Securities Available for Sale: | 182,982 | 168,687 | ||
Cash and due from banks, Estimated Fair Value | 9,669 | 13,329 | ||
Interest-bearing deposits in banks, Estimated Fair Value | 38,390 | 19,667 | ||
Nonmarketable equity securities, Estimated Fair Value | 1,367 | 1,367 | ||
Loans, net | 2,678 | 2,396 | ||
Loans Held-for-sale, Fair Value Disclosure | 738 | |||
Loans, net, Estimated Fair Value | 712,796 | 675,287 | ||
Derivative financial instruments, Estimated Fair Value | 292 | 314 | ||
Financial liabilities: | ||||
Derivative financial instruments | 292 | 314 | ||
Non-interest bearing deposits, Estimated Fair Value | 174,527 | 158,329 | ||
Interest-bearing deposits, Estimated Fair Value | 652,819 | 604,726 | ||
Other borrowed funds, Estimated Fair Value | 43,587 | 28,957 | ||
Subordinated debt, Estimated Fair Value | 15,168 | 28,819 | ||
Accrued interest payable, Estimated Fair Value | 1,314 | 1,029 | ||
Derivative financial instruments, Estimated Fair Value | 292 | 314 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||||
Financial assets: | ||||
Securities Available for Sale: | 0 | 0 | ||
Cash and due from banks, Estimated Fair Value | 9,669 | 13,329 | ||
Interest-bearing deposits in banks, Estimated Fair Value | 38,390 | 19,667 | ||
Nonmarketable equity securities, Estimated Fair Value | 0 | 0 | ||
Loans, net | 2,678 | 2,396 | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | |||
Loans, net, Estimated Fair Value | 0 | 0 | ||
Derivative financial instruments, Estimated Fair Value | 0 | 0 | ||
Financial liabilities: | ||||
Derivative financial instruments | 0 | 0 | ||
Non-interest bearing deposits, Estimated Fair Value | 174,527 | 158,329 | ||
Interest-bearing deposits, Estimated Fair Value | 292,660 | 300,188 | ||
Other borrowed funds, Estimated Fair Value | 43,587 | 28,957 | ||
Subordinated debt, Estimated Fair Value | 0 | 0 | ||
Accrued interest payable, Estimated Fair Value | 1,314 | 1,029 | ||
Derivative financial instruments, Estimated Fair Value | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | ||||
Financial assets: | ||||
Securities Available for Sale: | 181,482 | 167,173 | ||
Cash and due from banks, Estimated Fair Value | 0 | 0 | ||
Interest-bearing deposits in banks, Estimated Fair Value | 0 | 0 | ||
Nonmarketable equity securities, Estimated Fair Value | 0 | 0 | ||
Loans, net | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | |||
Loans, net, Estimated Fair Value | 0 | 0 | ||
Derivative financial instruments, Estimated Fair Value | 292 | 314 | ||
Financial liabilities: | ||||
Derivative financial instruments | 292 | 314 | ||
Non-interest bearing deposits, Estimated Fair Value | 0 | 0 | ||
Interest-bearing deposits, Estimated Fair Value | 0 | 0 | ||
Other borrowed funds, Estimated Fair Value | 0 | 0 | ||
Subordinated debt, Estimated Fair Value | 0 | 0 | ||
Accrued interest payable, Estimated Fair Value | 0 | 0 | ||
Derivative financial instruments, Estimated Fair Value | 292 | 314 | ||
Significant Unobservable Inputs (Level 3) | ||||
Financial assets: | ||||
Securities Available for Sale: | 1,500 | 1,514 | ||
Cash and due from banks, Estimated Fair Value | 0 | 0 | ||
Interest-bearing deposits in banks, Estimated Fair Value | 0 | 0 | ||
Nonmarketable equity securities, Estimated Fair Value | 1,367 | 1,367 | ||
Loans, net | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 738 | |||
Loans, net, Estimated Fair Value | 712,796 | 675,287 | ||
Derivative financial instruments, Estimated Fair Value | 0 | 0 | ||
Financial liabilities: | ||||
Derivative financial instruments | 0 | 0 | ||
Non-interest bearing deposits, Estimated Fair Value | 0 | 0 | ||
Interest-bearing deposits, Estimated Fair Value | 360,159 | 304,538 | ||
Other borrowed funds, Estimated Fair Value | 0 | 0 | ||
Subordinated debt, Estimated Fair Value | 15,168 | 28,819 | ||
Accrued interest payable, Estimated Fair Value | 0 | 0 | ||
Derivative financial instruments, Estimated Fair Value | $ 0 | $ 0 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Collectively evaluated for impairment | $ 4.2 | $ 10.8 |
Collectively evaluated for impairment (as a percent) | 33.00% | 69.00% |
Impaired loans | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal age (in years) | 1 year | |
Impaired loans | Minimum | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustment discount rate (as a percent) | 10.00% | 10.00% |
Frequency of valuations (in months) | 12 months | |
Additional discount used for selling costs (as a percent) | 5.00% | |
Impaired loans | Maximum | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustment discount rate (as a percent) | 25.00% | 25.00% |
Frequency of valuations (in months) | 18 months | |
Additional discount used for selling costs (as a percent) | 15.00% | |
Foreclosed assets | Appraisal of Collateral | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Selling costs discount rate (as a percent) | 10.00% | 10.00% |
Derivatives and Hedging Activ65
Derivatives and Hedging Activities (Details) - Not Designated as Hedging Instrument - Interest Rate Swap - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative notional value | $ 3,300 | $ 3,400 | |
Derivative financial instruments | 292 | $ 314 | |
Derivative, Gain (Loss) on Derivative, Net | $ 22 | $ 37 |
Preferred Stock (Details)
Preferred Stock (Details) - Dec. 04, 2014 - USD ($) | Total |
Class of Stock [Line Items] | |
Gain on retirement of preferred stock | $ 4,800 |
Series B Preferred Stock | |
Class of Stock [Line Items] | |
Shares repurchased during period (in shares) | 5,176 |
Series C Preferred Stock | |
Class of Stock [Line Items] | |
Shares repurchased during period (in shares) | 1,100 |
Total cost of redemption | $ 6,300,000 |