Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 14-May-15 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | County Bancorp, Inc. | |
Entity Central Index Key | 1470205 | |
Trading Symbol | ICBK | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Entity Common Stock, Shares Outstanding | 5,733,919 |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and cash equivalents | $29,743 | $10,480 |
Securities available-for-sale, at fair value | 81,165 | 81,282 |
FHLB Stock, at cost | 1,470 | 1,252 |
Loans held for sale | 9,376 | 4,114 |
Loans, net of allowance for loan losses of $10,269 in 2015; $10,603 in 2014 | 624,798 | 637,519 |
Premises and equipment, net | 4,484 | 4,596 |
Loan servicing rights | 7,807 | 7,746 |
Other real estate owned, net | 5,128 | 7,137 |
Cash surrender value of bank owned life insurance | 10,934 | 10,863 |
Deferred tax asset, net | 1,938 | 2,321 |
Accrued interest receivable and other assets | 4,566 | 4,446 |
Total assets | 781,409 | 771,756 |
Deposits: | ||
Noninterest-bearing | 66,779 | 81,534 |
Interest-bearing | 541,662 | 523,935 |
Total deposits | 608,441 | 605,469 |
Other borrowings | 5,646 | 23,857 |
Advances from FHLB | 33,000 | 28,000 |
Subordinated debentures | 12,372 | 12,372 |
Accrued interest payable and other liabilities | 7,406 | 7,015 |
Total liabilities | 666,865 | 676,713 |
Small Business Lending Fund redeemable preferred stock-variable rate, noncumulative, nonparticipating, $1,000 stated value; 15,000 shares authorized and issued, $15,000 redemption amount | 15,000 | 15,000 |
SHAREHOLDERS' EQUITY | ||
Preferred stock-variable rate, non-cumulative, nonparticipating,$1,000 stated value; 15,000 shares authorized; 8,000 shares issued | 8,000 | 8,000 |
Common stock - $0.01 par value; 50,000,000 authorized; 6,143,689 shares issued and 5,733,919 shares outstanding at March 31, 2015 and 4,908,560 shares issued and 4,498,790 shares outstanding at December 31, 2014 | 18 | 5 |
Surplus | 33,988 | 16,970 |
Retained earnings | 61,433 | 59,254 |
Treasury stock, at cost, 409,770 shares at March 31, 2015 and December 31, 2014 | -4,572 | -4,572 |
Accumulated other comprehensive income | 677 | 386 |
Total shareholders' equity | 99,544 | 80,043 |
Total liabilities and shareholders' equity | $781,409 | $771,756 |
CONSOLIDATED_BALANCE_SHEETS_Un1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $10,269 | $10,603 |
Small Business Lending Fund redeemable preferred stock, stated value | $1,000 | $1,000 |
Small Business Lending Fund redeemable preferred stock, shares authorized | 15,000 | 15,000 |
Small Business Lending Fund redeemable preferred stock, redemption amount | $15,000 | $15,000 |
Preferred Stock, stated value | $1,000 | $1,000 |
Preferred Stock, shares authorized | 15,000 | 15,000 |
Preferred Stock, shares issued | 8,000 | 8,000 |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 50,000,000 | 50,000,000 |
Common Stock, shares issued | 6,143,689 | 4,908,560 |
Common Stock, shares outstanding | 5,733,919 | 4,498,790 |
Treasury Stock, shares | 409,770 | 409,770 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
INTEREST AND DIVIDEND INCOME | |||
Loans, including fees | $7,628 | $7,082 | |
Taxable securities | 229 | 228 | |
Tax-exempt securities | 106 | 126 | |
Federal funds sold and other | 18 | 26 | |
Total interest and dividend income | 7,981 | 7,462 | |
INTEREST EXPENSE | |||
Deposits | 1,478 | 1,558 | |
Federal funds purchased and other borrowed funds | 218 | 320 | |
Subordinated debentures | 120 | 120 | |
Total interest expense | 1,816 | 1,998 | |
Net interest income | 6,165 | 5,464 | |
Provision for (recovery of) loan losses | -602 | ||
Net interest income after provision for loan losses | 6,767 | 5,464 | |
Non-interest income: | |||
Services charges | 220 | 95 | |
Gain on sale of loans, net | 93 | 88 | |
Loan servicing fees | 1,253 | 1,299 | |
Other | 309 | 328 | |
Total non-interest income | 1,875 | 1,810 | |
Non-interest expense: | |||
Employee compensation and benefits | 2,720 | 2,581 | |
Occupancy | 81 | 80 | |
Write-down of other real estate owned | 182 | 685 | |
Other | 1,635 | 1,235 | |
Total non-interest expense | 4,618 | 4,581 | |
Income before income taxes | 4,024 | 2,693 | |
Income tax expense | 1,498 | 1,003 | |
NET INCOME | $2,526 | $1,690 | [1] |
NET INCOME PER SHARE: | |||
Basic | $0.44 | $0.35 | |
Diluted | $0.43 | $0.34 | |
[1] | 10-for-1 Stock split adjusted |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net income | $2,526 | $1,690 | [1] |
Other comprehensive income: | |||
Unrealized gains on securities available for sale | 479 | 323 | |
Income tax expense | -188 | -127 | |
Total other comprehensive income | 291 | 196 | |
Comprehensive income | $2,817 | $1,886 | |
[1] | 10-for-1 Stock split adjusted |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (USD $) | Total | SBLF | Preferred Stock | Common Stock | Surplus | Treasury Stock | Retained Earnings | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | |
In Thousands | SBLF | |||||||||
Balance at Dec. 31, 2013 | $71,809 | $8,000 | $5 | $16,004 | ($3,683) | $51,514 | ($31) | |||
Net income | 1,690 | [1] | 1,690 | |||||||
Other comprehensive income | 196 | 196 | ||||||||
Stock compensation expense, net of tax | -4 | -4 | ||||||||
Purchase of treasury stock (10,000 shares) | -125 | -125 | ||||||||
Cash dividends declared on preferred stock | -80 | -38 | -80 | -38 | ||||||
Balance at Mar. 31, 2014 | 73,448 | 8,000 | 5 | 16,000 | -3,808 | 53,086 | 165 | |||
Balance at Dec. 31, 2014 | 80,043 | 8,000 | 5 | 16,970 | -4,572 | 59,254 | 386 | |||
Net income | 2,526 | 2,526 | ||||||||
Other comprehensive income | 291 | 291 | ||||||||
Stock compensation expense, net of tax | 53 | 53 | ||||||||
Cash dividends declared on common stock | -229 | -229 | ||||||||
Cash dividends declared on preferred stock | -80 | -38 | -80 | -38 | ||||||
Proceeds from sale of common stock | 16,978 | 13 | 16,965 | |||||||
Balance at Mar. 31, 2015 | $99,544 | $8,000 | $18 | $33,988 | ($4,572) | $61,433 | $677 | |||
[1] | 10-for-1 Stock split adjusted |
CONSOLIDATED_STATEMENT_OF_STOC
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement Of Stockholders Equity [Abstract] | ||
Purchase of treasury stock, shares | 10,000 | |
Proceeds from sale of common stock, shares | 1,220,750 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities | |||
Net income | $2,526 | $1,690 | [1] |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Deprecation and amortization of premises and equipment | 151 | 147 | |
Provision for (recovery of) loan losses | -602 | ||
Realized loss on sales of other real estate owned | 373 | ||
Write-down of other real estate owned | 182 | 685 | |
Realized loss on sales of premises and equipment | 4 | ||
Increase in cash surrender value of bank owned life insurance | -71 | -67 | |
Deferred income tax expense | 194 | ||
Stock compensation expense, net | 53 | -4 | |
Net amortization of securities | 147 | 111 | |
Net change in: | |||
Accrued interest receivable and other assets | -120 | 314 | |
Loans held for sale | -5,262 | -374 | |
Loan servicing rights | -61 | -138 | |
Accrued interest payable and other liabilities | 391 | -313 | |
Net cash provided by (used in) operating activities | -2,095 | 2,051 | |
Cash flows from investing activities | |||
Proceeds from maturities and call of securities available for sale | 2,011 | 2,661 | |
Purchases of securities available for sale | -1,561 | -2,740 | |
Purchases of FHLB stock | -218 | ||
Loan originations and principal collections, net | 13,323 | 4,110 | |
Proceeds from sales of premises and equipment | 11 | 15 | |
Purchases of premises and equipment | -54 | -209 | |
Capitalized addtions to other real estate owned | -39 | ||
Proceeds from sales of other real estate owned | 1,493 | 1,255 | |
Net cash provided by investing activities | 14,966 | 5,092 | |
Cash flows from financing activities | |||
Net increase in demand and savings deposits | -6,726 | -3,335 | |
Net (increase) decrease in certificates of deposits | 9,698 | -12,905 | |
Net change in other borrowings | -18,211 | -525 | |
Proceeds from FHLB Advances | 5,000 | ||
Repayment of FHLB Advances | -5,000 | ||
Payments to acquire treasury stock | -125 | ||
Proceeds from issuance of common stock | 16,978 | ||
Dividends paid on common stock | -229 | ||
Dividends paid on preferred stock | -80 | -80 | |
Net cash provided by (used in) financing activities | 6,392 | -22,008 | |
Net change in cash and cash equivalents | 19,263 | -14,865 | |
Cash and cash equivalents, beginning of period | 10,480 | 71,780 | |
Cash and cash equivalents, end of period | 29,743 | 56,915 | |
Supplemental disclosure of cash flow information: | |||
Interest | 1,853 | 1,917 | |
Income taxes | 220 | 1,000 | |
Noncash investing activities: | |||
Loans charged off | 149 | 3 | |
SBLF | |||
Cash flows from financing activities | |||
Dividends paid on preferred stock | ($38) | ($38) | |
[1] | 10-for-1 Stock split adjusted |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 – BASIS OF PRESENTATION |
The unaudited consolidated financial statements of County Bancorp, Inc. (the “Company”) and its subsidiaries have been prepared, in the opinion of management, to reflect all adjustments necessary for a fair presentiation of the financial position, results of operations, and cash flows for the interim period. The results of operations for the three months ended March 31, 2015 may not necessarily be indicative of the results to be expected for the entire fiscal year. | |
Management of the Company is required 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 significantly from those estimates. | |
These unaudited interim financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Certain information in footnote disclosure normally included in financial statements prepared in accordance with U.S. GAAP have 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 consolidated financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2014. | |
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 | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
EARNINGS PER SHARE | NOTE 2 – EARNINGS PER SHARE | ||||||||
Earnings per common share ("EPS") 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 plus the dilutive effect of share-based compensation using the treasury stock method. | |||||||||
For the three months ended | |||||||||
March 31, | |||||||||
2015 | 2014* | ||||||||
Net income from continuing operations (for EPS purposes) | $ | 2,526 | $ | 1,690 | |||||
Less: preferred stock dividends | 118 | 118 | |||||||
Income available to common shareholders for basic EPS | $ | 2,408 | $ | 1,572 | |||||
Average number of common shares issued | 6,193 | 5,249 | |||||||
Less: weighted average treasury shares | 410 | 355 | |||||||
Less: weighted average nonvested equity incentive plan shares | 348 | 425 | |||||||
Weighted average number of common shares outstanding | 5,435 | 4,469 | |||||||
Effect of dilutive options | 120 | 93 | |||||||
Weighted average number of common shares outstanding | 5,555 | 4,562 | |||||||
used to calculate diluted earnings per common share | |||||||||
* | 10-for-1 Stock split adjusted |
SECURITIES_AVAILABLE_FOR_SALE
SECURITIES AVAILABLE FOR SALE | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Available For Sale Securities [Abstract] | |||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | NOTE 3 – SECURITIES AVAILABLE FOR SALE | ||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale as of March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | |||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 2,005 | $ | 6 | $ | - | $ | 2,011 | |||||||||||||||||
Municipal securities | 42,851 | 362 | (22 | ) | 43,191 | ||||||||||||||||||||
Mortgage-backed securities | 35,193 | 791 | (21 | ) | 35,963 | ||||||||||||||||||||
$ | 80,049 | $ | 1,159 | $ | (43 | ) | $ | 81,165 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 2,006 | $ | 1 | $ | (2 | ) | $ | 2,005 | ||||||||||||||||
Municipal securities | 41,751 | 237 | (139 | ) | 41,849 | ||||||||||||||||||||
Mortgage-backed securities | 36,889 | 636 | (97 | ) | 37,428 | ||||||||||||||||||||
$ | 80,646 | $ | 874 | $ | (238 | ) | $ | 81,282 | |||||||||||||||||
The amortized cost and fair value of securities at March 31, 2015 and December 31, 2014, by contractual maturity, are shown below (dollars in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Due in one year or less | $ | 3,749 | $ | 3,761 | |||||||||||||||||||||
Due from one to five years | 40,736 | 41,071 | |||||||||||||||||||||||
Due from five to ten years | 371 | 370 | |||||||||||||||||||||||
Due after ten years | — | — | |||||||||||||||||||||||
Mortgage-backed securities | 35,193 | 35,963 | |||||||||||||||||||||||
$ | 80,049 | $ | 81,165 | ||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Due in one year or less | $ | 2,007 | $ | 2,011 | |||||||||||||||||||||
Due from one to five years | 41,750 | 41,843 | |||||||||||||||||||||||
Due from five to ten years | — | — | |||||||||||||||||||||||
Due after ten years | — | — | |||||||||||||||||||||||
Mortgage-backed securities | 36,889 | 37,428 | |||||||||||||||||||||||
$ | 80,646 | $ | 81,282 | ||||||||||||||||||||||
There were no sales for realized gains or losses for the three months ended March 31, 2015 and 2014, respectively. | |||||||||||||||||||||||||
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temorarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Municipal securities | 5,122 | (21 | ) | 453 | (1 | ) | 5,575 | (22 | ) | ||||||||||||||||
Mortgage-backed securities | 1,567 | (5 | ) | 2,366 | (16 | ) | 3,933 | (21 | ) | ||||||||||||||||
$ | 6,689 | $ | (26 | ) | $ | 2,819 | $ | (17 | ) | $ | 9,508 | $ | (43 | ) | |||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 997 | $ | (2 | ) | $ | — | $ | — | $ | 997 | $ | (2 | ) | |||||||||||
Municipal securities | 16,724 | (100 | ) | 3,736 | (39 | ) | 20,460 | (139 | ) | ||||||||||||||||
Mortgage-backed securities | 6,698 | (33 | ) | 5,651 | (64 | ) | 12,349 | (97 | ) | ||||||||||||||||
$ | 24,419 | $ | (135 | ) | $ | 9,387 | $ | (103 | ) | $ | 33,806 | $ | (238 | ) | |||||||||||
The unrealized loss on the investments at March 31, 2015 and December 31, 2014 is due to normal fluctuations and pricing inefficiencies. The contractual terms of the investments do not permit the issuers to settle the securities at a price less than the amortized cost basis of the investment. Because the Company does not intend to sell the investments and it is not more-likely-than-not that the Company will be required to sell the investments before recovery of the amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at March 31, 2015 and December 31, 2014. |
LOANS
LOANS | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
LOANS | NOTE 4 – LOANS | ||||||||||||||||||||||||
The components of loans were as follows (dollars in thousands): | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Agricultural loans | $ | 408,217 | $ | 415,164 | |||||||||||||||||||||
Commercial real estate loans | 137,227 | 137,517 | |||||||||||||||||||||||
Commercial loans | 49,416 | 53,745 | |||||||||||||||||||||||
Residential real estate loans | 39,895 | 40,885 | |||||||||||||||||||||||
Installment and consumer other | 312 | 811 | |||||||||||||||||||||||
Total gross loans | 635,067 | 648,122 | |||||||||||||||||||||||
Allowance for loan losses | (10,269 | ) | (10,603 | ) | |||||||||||||||||||||
Loans, net | $ | 624,798 | $ | 637,519 | |||||||||||||||||||||
Changes in the allowance for loan losses by segment at March 31, 2015 and 2014 were as follows (dollars in thousands) : | |||||||||||||||||||||||||
March 31, | March 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Balance, beginning of year | $ | 10,603 | $ | 10,495 | |||||||||||||||||||||
Recovery for loan losses | (602 | ) | - | ||||||||||||||||||||||
Loans charged off | (149 | ) | (3 | ) | |||||||||||||||||||||
Recoveries | 417 | 32 | |||||||||||||||||||||||
Balance, end of period | $ | 10,269 | $ | 10,524 | |||||||||||||||||||||
The following table presents the balances in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2015 and December 31, 2014 (dollars in thousands) : | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | ||||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Agricultural loans | $ | 198 | $ | 3,494 | $ | 3,692 | |||||||||||||||||||
Commercial real estate loans | 338 | 2,548 | 2,886 | ||||||||||||||||||||||
Commercial loans | 1,746 | 575 | 2,321 | ||||||||||||||||||||||
Residential real estate loans | 227 | 1,140 | 1,367 | ||||||||||||||||||||||
Installment and consumer other | - | 3 | 3 | ||||||||||||||||||||||
Total ending allowance for loan losses | 2,509 | 7,760 | 10,269 | ||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Agricultural loans | 10,270 | 397,947 | 408,217 | ||||||||||||||||||||||
Commercial real estate loans | 4,043 | 133,184 | 137,227 | ||||||||||||||||||||||
Commercial loans | 8,834 | 40,582 | 49,416 | ||||||||||||||||||||||
Residential real estate loans | 1,781 | 38,114 | 39,895 | ||||||||||||||||||||||
Installment and consumer other | — | 312 | 312 | ||||||||||||||||||||||
Total loans | 24,928 | 610,139 | 635,067 | ||||||||||||||||||||||
Net loans | $ | 22,419 | $ | 602,379 | $ | 624,798 | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | ||||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Agricultural loans | $ | 242 | $ | 3,214 | $ | 3,456 | |||||||||||||||||||
Commercial real estate loans | 519 | 2,807 | 3,326 | ||||||||||||||||||||||
Commercial loans | 1,848 | 572 | 2,420 | ||||||||||||||||||||||
Residential real estate loans | 285 | 1,107 | 1,392 | ||||||||||||||||||||||
Installment and consumer other | — | 9 | 9 | ||||||||||||||||||||||
Total ending allowance for loan losses | 2,894 | 7,709 | 10,603 | ||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Agricultural loans | 10,897 | 404,267 | 415,164 | ||||||||||||||||||||||
Commercial real estate loans | 3,041 | 134,476 | 137,517 | ||||||||||||||||||||||
Commercial loans | 8,910 | 44,835 | 53,745 | ||||||||||||||||||||||
Residential real estate loans | 1,996 | 38,889 | 40,885 | ||||||||||||||||||||||
Installment and consumer other | — | 811 | 811 | ||||||||||||||||||||||
Total loans | 24,844 | 623,278 | 648,122 | ||||||||||||||||||||||
Net loans | $ | 21,950 | $ | 615,569 | $ | 637,519 | |||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total | Loans Not | Total | ||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Past Due | Loans | ||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Agricultural loans | $ | 2,743 | $ | - | $ | 392 | $ | 3,135 | $ | 405,082 | $ | 408,217 | |||||||||||||
Commercial real estate loans | - | - | 2,418 | 2,418 | 134,809 | 137,227 | |||||||||||||||||||
Commercial loans | 132 | - | 3,140 | 3,272 | 46,144 | 49,416 | |||||||||||||||||||
Residential real estate loans | 50 | - | 352 | 402 | 39,493 | 39,895 | |||||||||||||||||||
Installment and consumer other | - | - | - | - | 312 | 312 | |||||||||||||||||||
Total | $ | 2,925 | $ | - | $ | 6,302 | $ | 9,227 | $ | 625,840 | $ | 635,067 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Agricultural loans | $ | 355 | $ | 9 | $ | 238 | $ | 602 | $ | 414,562 | $ | 415,164 | |||||||||||||
Commercial real estate loans | - | - | 2,592 | 2,592 | 134,925 | 137,517 | |||||||||||||||||||
Commercial loans | - | 42 | 3,366 | 3,408 | 50,337 | 53,745 | |||||||||||||||||||
Residential real estate loans | 6 | - | 534 | 540 | 40,345 | 40,885 | |||||||||||||||||||
Installment and consumer other | - | - | - | - | 811 | 811 | |||||||||||||||||||
Total | $ | 361 | $ | 51 | $ | 6,730 | $ | 7,142 | $ | 640,980 | $ | 648,122 | |||||||||||||
The following table lists information on nonaccrual, restructured, and certain past due loans: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Nonaccrual loans, 90 days or more past due | $ | 6,302 | $ | 6,730 | |||||||||||||||||||||
Nonaccrual loans 30-89 days past due | 132 | 200 | |||||||||||||||||||||||
Nonaccrual loans, less than 30 days past due | 6,400 | 4,625 | |||||||||||||||||||||||
Restructured loans not on nonaccrual status | 826 | 846 | |||||||||||||||||||||||
90 days or more past due and still accruing | - | - | |||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual and loans past due over 90 days at March 31, 2015 and December 31, 2014 (in thousands): | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Agricultural loans | $ | 1,058 | $ | 1,293 | |||||||||||||||||||||
Commercial real estate loans | 5,992 | 5,163 | |||||||||||||||||||||||
Commercial loans | 4,278 | 3,409 | |||||||||||||||||||||||
Residential real estate loans | 1,506 | 1,690 | |||||||||||||||||||||||
Total | $ | 12,834 | $ | 11,555 | |||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
The Company has allocated approximately $326,000 and $538,000 of specific reserves to customers whose loan terms have been modified in troubled debt restructurings (“TDR”) at March 31, 2015 and December 31, 2014, respectively. The Company has no additional lending commitments at March 31, 2015 and December 31, 2014 to customers with outstanding loans that are classified as troubled debt restructurings. | |||||||||||||||||||||||||
A TDR on nonaccrual status is classified as a nonaccrual loan until evaluation supports reasonable assurance of repayment and of performance according to the modified terms of the loan. Once this assurance is reached, the TDR is classified as a restructured loan; At March 31, 2015, there were $4,509,000 TDR loans, of which $3,683,000 were classified as nonaccrual and $826,000 were classified as restructured and accruing. There were no unfunded commitments on these loans. At December 31, 2014, there were $4,573,000 TDR loans, of which $3,727,000 were classified as nonaccrual and $846,000 were classified as restructured and accruing, and there were no unfunded commitments on these loans. | |||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes agricultural, commercial, and commercial real estate loans individually by classifying the credits as to credit risk. The process of analyzing loans for changes in risk rating is ongoing through routine monitoring of the portfolio and annual internal credit reviews for credits with total exposure in excess of $300,000. The Company uses the following definitions for credit risk ratings: | |||||||||||||||||||||||||
Sound. Credits classified as sound show very good probability of ongoing ability to meet and/or exceed obligations. | |||||||||||||||||||||||||
Acceptable. Credits classified as acceptable show a good probability of ongoing ability to meet and/or exceed obligations. | |||||||||||||||||||||||||
Satisfactory. Credits classified as satisfactory show fair probability of ongoing ability to meet and/or exceed obligations. | |||||||||||||||||||||||||
Low Satisfactory. Credits classified as low satisfactory show fair probability of ongoing ability to meet and/or exceed obligations. Low satisfactory credits may be newer to the bank or have less of an established track record of financial performance, inconsistent earnings, or may be going through an expansion. | |||||||||||||||||||||||||
Watch. Credits classified as watch show some questionable probability of ongoing ability to meet and/or exceed obligations. | |||||||||||||||||||||||||
Special Mention. Credits classified as special mention show potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loans or of the institution’s credit position at some future date. | |||||||||||||||||||||||||
Substandard. Credits classified as substandard generally have well-defined weaknesses that jeopardize the repayment of the debt. They have a distinct possibility that a loss will be sustained if the deficiencies are not corrected. | |||||||||||||||||||||||||
Doubtful. Credits classified as doubtful have all the weaknesses inherent in those classified as substandard 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. | |||||||||||||||||||||||||
The Company categorizes residential real estate, installment and consumer other loans as satisfactory at the time of origination based on information obtained as to the ability of the borrower(s) to service their debt, such as current financial information, employment status and history, historical payment experience, credit scores and type and amount of collateral among other factors. The Company updates relevant information on these types of loans at the time of refinance, troubled debt restructuring or other indications of financial difficulty, downgrading as needed using the same category descriptions as for agricultural, commercial, and commercial real estate loans. In addition, the Company further considers current payment status as an indicator of which risk category to assign the borrower. | |||||||||||||||||||||||||
The greater the level of deteriorated risk as indicated by a loan’s assigned risk category, the greater the likelihood a loss will occur in the future. If the loan is impaired then the loan loss reserves for the loan is recorded at the loss level of impairment. If the loan is not impaired, then its loan loss reserves are determined by the application of a loss rate that increases with risk in accordance with the allowance for loan loss analysis. | |||||||||||||||||||||||||
Based on the most recent analysis performed by management, the risk category of loans by class of loans is as follows as of March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||
Sound/ | Watch | Special | Substandard | Total | |||||||||||||||||||||
Acceptable/ | Mention | Loans | |||||||||||||||||||||||
Satisfactory/ | |||||||||||||||||||||||||
Low Satisfactory | |||||||||||||||||||||||||
Agricultural loans | $ | 347,736 | $ | 43,108 | $ | 7,103 | $ | 10,270 | $ | 408,217 | |||||||||||||||
Commercial real estate loans | 117,270 | 9,655 | 6,259 | 4,043 | 137,227 | ||||||||||||||||||||
Commercial loans | 35,761 | 3,752 | 1,069 | 8,834 | 49,416 | ||||||||||||||||||||
Residential real estate loans | 30,126 | 4,540 | 3,448 | 1,781 | 39,895 | ||||||||||||||||||||
Installment and consumer other | 312 | — | — | — | 312 | ||||||||||||||||||||
Total | $ | 531,205 | $ | 61,055 | $ | 17,879 | $ | 24,928 | $ | 635,067 | |||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||
Sound/ | Watch | Special | Substandard | Total | |||||||||||||||||||||
Acceptable/ | Mention | Loans | |||||||||||||||||||||||
Satisfactory/ | |||||||||||||||||||||||||
Low Satisfactory | |||||||||||||||||||||||||
Agricultural loans | $ | 342,598 | $ | 59,078 | $ | 2,591 | $ | 10,897 | $ | 415,164 | |||||||||||||||
Commercial real estate loans | 104,609 | 23,540 | 6,327 | 3,041 | 137,517 | ||||||||||||||||||||
Commercial loans | 36,205 | 7,568 | 1,062 | 8,910 | 53,745 | ||||||||||||||||||||
Residential real estate loans | 29,738 | 6,288 | 2,863 | 1,996 | 40,885 | ||||||||||||||||||||
Installment and consumer other | 811 | — | — | — | 811 | ||||||||||||||||||||
Total | $ | 513,961 | $ | 96,474 | $ | 12,843 | $ | 24,844 | $ | 648,122 | |||||||||||||||
LOAN_SERVICING_RIGHTS
LOAN SERVICING RIGHTS | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Transfers And Servicing [Abstract] | |||||||||
LOAN SERVICING RIGHTS | NOTE 5 – LOAN SERVICING RIGHTS | ||||||||
Loans serviced for others are not included in the accompanying consolidated balance sheets. The risks inherent in servicing assets relate primarily to changes in prepayments that result from shifts in interest rates. The unpaid principal balances of mortgage and other loans serviced for others were approximately $437.1 million and $429.3 million at March 31, 2015 and December 31, 2014, respectively. The fair value of these rights were approximately $11.3 million and $10.0 million, respectively. The fair value of servicing rights was determined using an assumed discount rate of 10 percent and prepayment speeds primarily ranging from 4 percent to 9 percent, depending upon the stratification of the specific right, and nominal credit losses. | |||||||||
The following summarizes servicing rights capitalized and amortized, along with the aggregate activity in related valuation allowances (dollars in thousands): | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Loan servicing rights: | |||||||||
Balance, beginning of period | $ | 7,746 | $ | 7,529 | |||||
Additions | 778 | 3,414 | |||||||
Disposals | (232 | ) | (1,243 | ) | |||||
Amortization | (485 | ) | (1,954 | ) | |||||
Balance, end of period | $ | 7,807 | $ | 7,746 | |||||
DEPOSITS
DEPOSITS | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Deposits [Abstract] | |||||||||
DEPOSITS | NOTE 6 – DEPOSITS | ||||||||
Deposits are summarized as follows at March 31, 2015 and December 31, 2014 (dollars in thousands): | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Demand deposits | $ | 66,779 | $ | 81,534 | |||||
Savings | 148,325 | 140,296 | |||||||
Certificates of deposit | 393,337 | 383,639 | |||||||
Total deposits | $ | 608,441 | $ | 605,469 | |||||
At March 31, 2015 and December 31, 2014, brokered deposits amounted to $145.1 million and $125.4 million, respectively, and are included in savings and certificates of deposit categories. |
EQUITY_INCENTIVE_PLAN
EQUITY INCENTIVE PLAN | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||||||
EQUITY INCENTIVE PLAN | NOTE 7 – EQUITY INCENTIVE PLAN | ||||||||||||
Under the Company’s 2012 Equity Incentive Compensation Plan (the “Plan”), the Company may grant options and issue restricted stock to its directors, officers and employees for shares of common stock. Both qualified and non-qualified stock options and restricted stock may be granted and issued, respectively, under the Plan. | |||||||||||||
The exercise price of each option equals the market price of the Company’s stock on the date of grant and an option’s maximum term is ten years. Vesting periods range from one to five years from the date of grant. The restricted stock has a cliff vesting period of five years from the date of issuance. | |||||||||||||
The status of the Company’s Plan and changes in the Plan as of March 31, 2015 are as follows (aggregate intrinsic value in thousands): | |||||||||||||
31-Mar-15 | |||||||||||||
Number | Weighted-Average | Aggregate | |||||||||||
of | Exercise Price | Intrinsic | |||||||||||
Options | Value (1) | ||||||||||||
Outstanding, beginning of year | 336,051 | $ | 11.57 | ||||||||||
Granted | 69,167 | 19.28 | |||||||||||
Exercised | (10,000 | ) | 6.9 | ||||||||||
Forfeited/expired | — | — | |||||||||||
Outstanding, end of period | 395,218 | $ | 12.89 | $ | 2,684 | ||||||||
Options exercisable at period-end | 220,400 | $ | 11.23 | $ | 1,863 | ||||||||
Weighted-average fair value of options granted during | $ | 5.05 | |||||||||||
the period (2) | |||||||||||||
-1 | The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on March 31, 2015 and December 31, 2014. This amount changes based on changes in the market value of the Company’s stock. | ||||||||||||
-2 | 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. | ||||||||||||
Activity in restricted stock awards (“RSA”) as of March 31, 2015 are as follows: | |||||||||||||
31-Mar-15 | |||||||||||||
RSAs | Weighted | ||||||||||||
Average Grant | |||||||||||||
Price | |||||||||||||
Outstanding, beginning of year | 34,080 | $ | 12.88 | ||||||||||
Granted | 14,379 | 19.71 | |||||||||||
Vested | — | — | |||||||||||
Forfeited/expired | — | — | |||||||||||
Outstanding, end of period | 48,459 | $ | 14.9 | ||||||||||
For the three months ended March 31, 2015 and 2014, share-based compensation expense, including options and restricted stock awards, applicable to the Plan was $53,000 and $(4,000), respectively. | |||||||||||||
As of March 31, 2015, unrecognized share-based compensation expense related to nonvested options amounted to $818,000 and is expected to be recognized over a weighted average period of 2.49 years. | |||||||||||||
REGULATORY_MATTERS
REGULATORY MATTERS | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||||||||||||||
REGULATORY MATTERS | NOTE 8 – REGULATORY MATTERS | ||||||||||||||||||||||||
The Company (on a consolidated basis) and Bank are each subject to various regulatory capital requirements administered by the federal and state 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 statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification 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. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the following table) of Total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of March 31, 2015 and December 31, 2014, that the Company and Bank meet all capital adequacy requirements to which they are subject. | |||||||||||||||||||||||||
As of March 31, 2015, the most recent notification from the banking regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed the Bank’s category. | |||||||||||||||||||||||||
The Company’s and Bank’s actual capital amounts and ratios are presented in the following table (dollars in thousands): | |||||||||||||||||||||||||
Actual | Minimum For | Minimum To Be Well | |||||||||||||||||||||||
Capital Adequacy | Capitalized Under | ||||||||||||||||||||||||
Purposes: | Prompt Corrective | ||||||||||||||||||||||||
Action Provisions: | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
Total Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 135,057 | 19.15 | % | $ | 56,429 | 8 | % | Not applicable | ||||||||||||||||
Bank | 115,511 | 16.38 | % | 56,416 | 8 | % | $ | 70,520 | 10 | % | |||||||||||||||
Tier 1 Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 126,240 | 17.9 | % | 42,322 | 6 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 15.13 | % | 42,312 | 6 | % | 56,416 | 8 | % | ||||||||||||||||
Tier 1 Capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 126,240 | 16.14 | % | 31,286 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 13.65 | % | 31,265 | 4 | % | 39,081 | 5 | % | ||||||||||||||||
Tier 1 Common Equity Ratio (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 90,868 | 12.88 | % | 31,741 | 4.5 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 15.13 | % | 31,734 | 4.5 | % | 45,838 | 6.5 | % | ||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
Total Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 115,471 | 17.16 | % | $ | 53,819 | 8 | % | Not applicable | ||||||||||||||||
Bank | 112,725 | 16.77 | % | 53,778 | 8 | % | $ | 67,223 | 10 | % | |||||||||||||||
Tier 1 Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 107,029 | 15.91 | % | 26,909 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 104,289 | 15.51 | % | 26,889 | 4 | % | 40,334 | 6 | % | ||||||||||||||||
Tier 1 Capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 107,029 | 14.32 | % | 29,901 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 104,289 | 13.96 | % | 29,880 | 4 | % | 37,351 | 5 | % | ||||||||||||||||
The Basel III Capital Rules, which became effective January 1, 2015, revised th prompt corrective action requirements by: (i) introducing a Common Equity Tier 1 ratio requirement at each level (other than critically undercapitalized), with the required Common Equity Tier 1 ratio being 6.5% for “well-capitalized” status; (ii) increasing the minimum Tier 1 capital ratio requirement for each category (other than critically undercapitalized), with the minimum Tier 1 capital ratio for “well-capitalized” status being 8% (compared to the prior ratio of 6%); and (iii) eliminating the former provision that provided that a bank with a composite supervisory rating of 1 may have a 3% Leverage Ratio and still be adequately capitalized. The Basel III Capital Rules do not change the total risk based capital requirement for any prompt corrective action category. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||
FAIR VALUE MEASUREMENTS | NOTE 9 – FAIR VALUE MEASUREMENTS | ||||||||||||||||||
ASC 820-10 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 independent, knowledgeable, and both able and willing to transact. | |||||||||||||||||||
ASC 820-10 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 future amounts, such as cash flows or earnings, to a single present 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 or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs 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 820-10 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—Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | |||||||||||||||||||
Level 2—Valuation is based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. | |||||||||||||||||||
Level 3—Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. | |||||||||||||||||||
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value disclosures for financial instruments: | |||||||||||||||||||
Cash and Cash Equivalents and Interest-Bearing Deposits in Banks | |||||||||||||||||||
The carrying amounts of cash and short-term instruments approximate fair values based on the short-term nature of the assets. | |||||||||||||||||||
Fair values of other interest-bearing deposits are estimated using discounted cash flow analyses based on current rates for similar types of deposits. | |||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||
Where quoted prices are available in an active market, the Company classifies the securities within Level 1 of the valuation hierarchy. Securities are defined as both long and short positions. Level 1 securities include highly liquid government bonds and exchange-traded equities. | |||||||||||||||||||
If quoted market prices are not available, the Company estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes and credit spreads. | |||||||||||||||||||
Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include U.S. government and agency securities, corporate bonds and other securities. Mortgage-backed securities that are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, the Company classifies those securities in Level 3. | |||||||||||||||||||
Loans | |||||||||||||||||||
For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for certain mortgage loans (e.g., one-to-four family residential), credit card loans, and other consumer loans are based on quoted market prices of similar loans sold in conjunction with securitization transactions, adjusted for differences in loan characteristics. Fair values for other loans (e.g., commercial and agricultural loans) are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for non-performing loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |||||||||||||||||||
Loans Held for Sale | |||||||||||||||||||
The carrying value of loans held for sale generally approximates fair value based on the short-term nature of the assets. If management identifies a loan held for sale that will ultimately sell at a value less than its carrying value, it is recorded at the estimated value. | |||||||||||||||||||
Loan Servicing Rights | |||||||||||||||||||
Fair value is based on market prices for comparable loan servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. | |||||||||||||||||||
Other Real Estate Owned | |||||||||||||||||||
Loans on which the underlying collateral has been repossessed are adjusted to fair value upon transfer to other real estate owned. Subsequently, other real estate owned is carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised values of the collateral, or management’s estimation of the value of the collateral. Due to the significance of the unobservable inputs, all other real estate owned are classified as Level 3. | |||||||||||||||||||
Deposits | |||||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). The carrying amounts of variable-rate, fixed-term money market accounts and certificates of deposit approximate their fair values 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. | |||||||||||||||||||
Other Borrowings | |||||||||||||||||||
The carrying amounts of federal funds purchased, other borrowings, and other short-term borrowings maturing within ninety days approximate their fair values. Fair values of other short-term borrowings are estimated using discounted cash flow analyses based on current market rates for similar types of borrowing arrangements. | |||||||||||||||||||
Advances from FHLB | |||||||||||||||||||
Current market rates for debt with similar terms and remaining maturities are used to estimate fair value of existing debt. Fair values are estimated using discounted cash flow analyses based on current market rates for similar types of borrowing arrangements. | |||||||||||||||||||
Subordinated Debentures | |||||||||||||||||||
The carrying amounts approximate fair value. | |||||||||||||||||||
Accrued Interest | |||||||||||||||||||
The carrying amounts approximate fair value. | |||||||||||||||||||
Commitments to Extend Credit and Standby Letters of Credit | |||||||||||||||||||
As of March 31, 2015 and December 31, 2014, the carrying and fair values of the commitment to extend credit and standby letters of credit are not considered significant. | |||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Inputs | Inputs | Inputs | Fair | ||||||||||||||||
Value | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||
U.S. government and agency securities | $ | — | $ | 2,011 | $ | — | $ | 2,011 | |||||||||||
Municipal securities | — | 43,191 | — | 43,191 | |||||||||||||||
Mortgage-backed securities | — | 35,963 | — | 35,963 | |||||||||||||||
Total assets at fair value | $ | — | $ | 81,165 | $ | — | $ | 81,165 | |||||||||||
31-Dec-14 | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||
U.S. government and agency securities | $ | — | $ | 2,005 | $ | — | $ | 2,005 | |||||||||||
Municipal securities | — | 41,849 | — | 41,849 | |||||||||||||||
Mortgage-backed securities | — | 37,428 | — | 37,428 | |||||||||||||||
Total assets at fair value | $ | — | $ | 81,282 | $ | — | $ | 81,282 | |||||||||||
Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, they are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table presents the financial instruments carried on the consolidated balance sheet by caption and by level in the fair value hierarchy for which a nonrecurring change in fair value has been recorded (dollars in thousands): | |||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment | ||||||||||||||||
Inputs | Inputs | Inputs | Losses | ||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 22,419 | $ | 2,509 | |||||||||||
Other real estate owned | — | — | 5,128 | 182 | |||||||||||||||
Total assets at fair value | $ | — | $ | — | $ | 27,547 | $ | 2,691 | |||||||||||
31-Dec-14 | |||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 21,950 | $ | 2,894 | |||||||||||
Other real estate owned | — | — | 7,137 | 1,190 | |||||||||||||||
Total assets at fair value | $ | — | $ | — | $ | 29,087 | $ | 4,084 | |||||||||||
The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis are as follows: | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Valuation | Unobservable | Range | |||||||||||||||||
Techniques | Inputs | (Average) | |||||||||||||||||
Impaired loans | Evaluation of collateral | Estimation of value | NM* | ||||||||||||||||
Other real estate owned | Appraisal | Appraisal adjustment | 3%-28% (10%) | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Valuation | Unobservable | Range | |||||||||||||||||
Techniques | Inputs | (Average) | |||||||||||||||||
Impaired loans | Evaluation of collateral | Estimation of value | NM* | ||||||||||||||||
Other real estate owned | Appraisal | Appraisal adjustment | 3%-28% (9%) | ||||||||||||||||
* | Not Meaningful. Evaluations of the underlying assets are completed for each impaired loan with a specific reserve. The types of collateral vary widely and could include accounts receivables, inventory, a variety of equipment, and real estate. Collateral evaluations are reviewed and discounted as appropriate based on knowledge of the specific type of collateral. In the case of real estate, an independent appraisal may be obtained. Types of discounts considered include aging of receivables, condition of the collateral, potential market for the collateral, and estimated disposal costs. These discounts will vary from loan to loan, thus providing a range would not be meaningful. | ||||||||||||||||||
The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (dollars in thousands): | |||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
Carrying | Fair | Carrying | Fair | Input | |||||||||||||||
Amount | Value | Amount | Value | Level | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 29,743 | $ | 29,743 | $ | 10,480 | $ | 10,480 | 1 | ||||||||||
FHLB Stock | 1,470 | 1,470 | 1,252 | 1,252 | 2 | ||||||||||||||
Securities available for sale | 81,165 | 81,165 | 81,282 | 81,282 | 2 | ||||||||||||||
Loans, net of allowance for loan losses | 624,798 | 635,448 | 637,519 | 647,973 | 3 | ||||||||||||||
Loans held for sale | 9,376 | 9,376 | 4,114 | 4,114 | 3 | ||||||||||||||
Accrued interest receivable | 2,386 | 2,386 | 2,219 | 2,219 | 2 | ||||||||||||||
Loan servicing rights | 7,807 | 11,331 | 7,746 | 10,043 | 3 | ||||||||||||||
Financial liabilities: | |||||||||||||||||||
Deposits: | |||||||||||||||||||
Time | 393,337 | 398,238 | 383,639 | 388,141 | 3 | ||||||||||||||
Other deposits | 215,104 | 215,104 | 221,830 | 221,830 | 1 | ||||||||||||||
Other borrowings | 5,646 | 5,646 | 23,857 | 23,857 | 3 | ||||||||||||||
Advances from FHLB | 33,000 | 33,580 | 28,000 | 28,510 | 3 | ||||||||||||||
Subordinated debentures | 12,372 | 12,372 | 12,372 | 12,372 | 3 | ||||||||||||||
Accrued interest payable | 1,246 | 1,246 | 1,284 | 1,284 | 2 | ||||||||||||||
OTHER_REAL_ESTATE_OWNED
OTHER REAL ESTATE OWNED | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |||||||||
OTHER REAL ESTATE OWNED | NOTE 10 – OTHER REAL ESTATE OWNED | ||||||||
Changes in other real estate owned are as follows (dollars in thousands): | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Balance, beginning of year | $ | 7,137 | $ | 16,083 | |||||
Assets foreclosed | — | — | |||||||
Write-down of other real estate owned | (182 | ) | (685 | ) | |||||
Net gain (loss) on sales of other real estate owned | (373 | ) | — | ||||||
Capitalized additions to other real estate owned | 39 | — | |||||||
Proceeds from sale of other real estate owned | (1,493 | ) | (1,255 | ) | |||||
Balance, end of period | $ | 5,128 | $ | 14,143 | |||||
Expenses applicable to other real estate owned include the following (dollars in thousands): | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net loss (gain) on sales of other real estate owned | $ | 373 | $ | - | |||||
Write-down of other real estate owned | 182 | 685 | |||||||
Operating expenses, net of rental income | (31 | ) | 50 | ||||||
$ | 524 | $ | 735 | ||||||
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule of Basic and Diluted Earnings Per Common Share | Earnings per common share ("EPS") 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 plus the dilutive effect of share-based compensation using the treasury stock method. | ||||||||
For the three months ended | |||||||||
March 31, | |||||||||
2015 | 2014* | ||||||||
Net income from continuing operations (for EPS purposes) | $ | 2,526 | $ | 1,690 | |||||
Less: preferred stock dividends | 118 | 118 | |||||||
Income available to common shareholders for basic EPS | $ | 2,408 | $ | 1,572 | |||||
Average number of common shares issued | 6,193 | 5,249 | |||||||
Less: weighted average treasury shares | 410 | 355 | |||||||
Less: weighted average nonvested equity incentive plan shares | 348 | 425 | |||||||
Weighted average number of common shares outstanding | 5,435 | 4,469 | |||||||
Effect of dilutive options | 120 | 93 | |||||||
Weighted average number of common shares outstanding | 5,555 | 4,562 | |||||||
used to calculate diluted earnings per common share | |||||||||
* | 10-for-1 Stock split adjusted |
SECURITIES_AVAILABLE_FOR_SALE_
SECURITIES AVAILABLE FOR SALE (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Available For Sale Securities [Abstract] | |||||||||||||||||||||||||
Schedule of Amortized cost and fair value of available for sale of securities | The amortized cost and fair value of securities available for sale as of March 31, 2015 and December 31, 2014 are as follows (dollars in thousands): | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 2,005 | $ | 6 | $ | - | $ | 2,011 | |||||||||||||||||
Municipal securities | 42,851 | 362 | (22 | ) | 43,191 | ||||||||||||||||||||
Mortgage-backed securities | 35,193 | 791 | (21 | ) | 35,963 | ||||||||||||||||||||
$ | 80,049 | $ | 1,159 | $ | (43 | ) | $ | 81,165 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 2,006 | $ | 1 | $ | (2 | ) | $ | 2,005 | ||||||||||||||||
Municipal securities | 41,751 | 237 | (139 | ) | 41,849 | ||||||||||||||||||||
Mortgage-backed securities | 36,889 | 636 | (97 | ) | 37,428 | ||||||||||||||||||||
$ | 80,646 | $ | 874 | $ | (238 | ) | $ | 81,282 | |||||||||||||||||
Schedule of Amortized cost and fair value of securities available for sale by contractual maturity | The amortized cost and fair value of securities at March 31, 2015 and December 31, 2014, by contractual maturity, are shown below (dollars in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Due in one year or less | $ | 3,749 | $ | 3,761 | |||||||||||||||||||||
Due from one to five years | 40,736 | 41,071 | |||||||||||||||||||||||
Due from five to ten years | 371 | 370 | |||||||||||||||||||||||
Due after ten years | — | — | |||||||||||||||||||||||
Mortgage-backed securities | 35,193 | 35,963 | |||||||||||||||||||||||
$ | 80,049 | $ | 81,165 | ||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Due in one year or less | $ | 2,007 | $ | 2,011 | |||||||||||||||||||||
Due from one to five years | 41,750 | 41,843 | |||||||||||||||||||||||
Due from five to ten years | — | — | |||||||||||||||||||||||
Due after ten years | — | — | |||||||||||||||||||||||
Mortgage-backed securities | 36,889 | 37,428 | |||||||||||||||||||||||
$ | 80,646 | $ | 81,282 | ||||||||||||||||||||||
Schedule of Fair value and gross unrealized losses of entity's investment | The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temorarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2015 and December 31, 2014 (dollars in thousands): | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||
Municipal securities | 5,122 | (21 | ) | 453 | (1 | ) | 5,575 | (22 | ) | ||||||||||||||||
Mortgage-backed securities | 1,567 | (5 | ) | 2,366 | (16 | ) | 3,933 | (21 | ) | ||||||||||||||||
$ | 6,689 | $ | (26 | ) | $ | 2,819 | $ | (17 | ) | $ | 9,508 | $ | (43 | ) | |||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. government and agency securities | $ | 997 | $ | (2 | ) | $ | — | $ | — | $ | 997 | $ | (2 | ) | |||||||||||
Municipal securities | 16,724 | (100 | ) | 3,736 | (39 | ) | 20,460 | (139 | ) | ||||||||||||||||
Mortgage-backed securities | 6,698 | (33 | ) | 5,651 | (64 | ) | 12,349 | (97 | ) | ||||||||||||||||
$ | 24,419 | $ | (135 | ) | $ | 9,387 | $ | (103 | ) | $ | 33,806 | $ | (238 | ) | |||||||||||
LOANS_Tables
LOANS (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Components of Loans | The components of loans were as follows (dollars in thousands): | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Agricultural loans | $ | 408,217 | $ | 415,164 | |||||||||||||||||||||
Commercial real estate loans | 137,227 | 137,517 | |||||||||||||||||||||||
Commercial loans | 49,416 | 53,745 | |||||||||||||||||||||||
Residential real estate loans | 39,895 | 40,885 | |||||||||||||||||||||||
Installment and consumer other | 312 | 811 | |||||||||||||||||||||||
Total gross loans | 635,067 | 648,122 | |||||||||||||||||||||||
Allowance for loan losses | (10,269 | ) | (10,603 | ) | |||||||||||||||||||||
Loans, net | $ | 624,798 | $ | 637,519 | |||||||||||||||||||||
Changes in the Allowance for Loan Losses | Changes in the allowance for loan losses by segment at March 31, 2015 and 2014 were as follows (dollars in thousands) : | ||||||||||||||||||||||||
March 31, | March 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Balance, beginning of year | $ | 10,603 | $ | 10,495 | |||||||||||||||||||||
Recovery for loan losses | (602 | ) | - | ||||||||||||||||||||||
Loans charged off | (149 | ) | (3 | ) | |||||||||||||||||||||
Recoveries | 417 | 32 | |||||||||||||||||||||||
Balance, end of period | $ | 10,269 | $ | 10,524 | |||||||||||||||||||||
Summary of Allowance for Loan Losses and Recorded Investment by Portfolio | The following table presents the balances in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2015 and December 31, 2014 (dollars in thousands) : | ||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | ||||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Agricultural loans | $ | 198 | $ | 3,494 | $ | 3,692 | |||||||||||||||||||
Commercial real estate loans | 338 | 2,548 | 2,886 | ||||||||||||||||||||||
Commercial loans | 1,746 | 575 | 2,321 | ||||||||||||||||||||||
Residential real estate loans | 227 | 1,140 | 1,367 | ||||||||||||||||||||||
Installment and consumer other | - | 3 | 3 | ||||||||||||||||||||||
Total ending allowance for loan losses | 2,509 | 7,760 | 10,269 | ||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Agricultural loans | 10,270 | 397,947 | 408,217 | ||||||||||||||||||||||
Commercial real estate loans | 4,043 | 133,184 | 137,227 | ||||||||||||||||||||||
Commercial loans | 8,834 | 40,582 | 49,416 | ||||||||||||||||||||||
Residential real estate loans | 1,781 | 38,114 | 39,895 | ||||||||||||||||||||||
Installment and consumer other | — | 312 | 312 | ||||||||||||||||||||||
Total loans | 24,928 | 610,139 | 635,067 | ||||||||||||||||||||||
Net loans | $ | 22,419 | $ | 602,379 | $ | 624,798 | |||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | ||||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Agricultural loans | $ | 242 | $ | 3,214 | $ | 3,456 | |||||||||||||||||||
Commercial real estate loans | 519 | 2,807 | 3,326 | ||||||||||||||||||||||
Commercial loans | 1,848 | 572 | 2,420 | ||||||||||||||||||||||
Residential real estate loans | 285 | 1,107 | 1,392 | ||||||||||||||||||||||
Installment and consumer other | — | 9 | 9 | ||||||||||||||||||||||
Total ending allowance for loan losses | 2,894 | 7,709 | 10,603 | ||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Agricultural loans | 10,897 | 404,267 | 415,164 | ||||||||||||||||||||||
Commercial real estate loans | 3,041 | 134,476 | 137,517 | ||||||||||||||||||||||
Commercial loans | 8,910 | 44,835 | 53,745 | ||||||||||||||||||||||
Residential real estate loans | 1,996 | 38,889 | 40,885 | ||||||||||||||||||||||
Installment and consumer other | — | 811 | 811 | ||||||||||||||||||||||
Total loans | 24,844 | 623,278 | 648,122 | ||||||||||||||||||||||
Net loans | $ | 21,950 | $ | 615,569 | $ | 637,519 | |||||||||||||||||||
Schedule of Aging of Recorded Investment in Past Due Loans | The following table presents the aging of the recorded investment in past due loans at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90+ Days | Total | Loans Not | Total | ||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Past Due | Loans | ||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
Agricultural loans | $ | 2,743 | $ | - | $ | 392 | $ | 3,135 | $ | 405,082 | $ | 408,217 | |||||||||||||
Commercial real estate loans | - | - | 2,418 | 2,418 | 134,809 | 137,227 | |||||||||||||||||||
Commercial loans | 132 | - | 3,140 | 3,272 | 46,144 | 49,416 | |||||||||||||||||||
Residential real estate loans | 50 | - | 352 | 402 | 39,493 | 39,895 | |||||||||||||||||||
Installment and consumer other | - | - | - | - | 312 | 312 | |||||||||||||||||||
Total | $ | 2,925 | $ | - | $ | 6,302 | $ | 9,227 | $ | 625,840 | $ | 635,067 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Agricultural loans | $ | 355 | $ | 9 | $ | 238 | $ | 602 | $ | 414,562 | $ | 415,164 | |||||||||||||
Commercial real estate loans | - | - | 2,592 | 2,592 | 134,925 | 137,517 | |||||||||||||||||||
Commercial loans | - | 42 | 3,366 | 3,408 | 50,337 | 53,745 | |||||||||||||||||||
Residential real estate loans | 6 | - | 534 | 540 | 40,345 | 40,885 | |||||||||||||||||||
Installment and consumer other | - | - | - | - | 811 | 811 | |||||||||||||||||||
Total | $ | 361 | $ | 51 | $ | 6,730 | $ | 7,142 | $ | 640,980 | $ | 648,122 | |||||||||||||
Schedule of Information on Nonaccrual, Restructured and Certain Past Due Loans | The following table lists information on nonaccrual, restructured, and certain past due loans: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Nonaccrual loans, 90 days or more past due | $ | 6,302 | $ | 6,730 | |||||||||||||||||||||
Nonaccrual loans 30-89 days past due | 132 | 200 | |||||||||||||||||||||||
Nonaccrual loans, less than 30 days past due | 6,400 | 4,625 | |||||||||||||||||||||||
Restructured loans not on nonaccrual status | 826 | 846 | |||||||||||||||||||||||
90 days or more past due and still accruing | - | - | |||||||||||||||||||||||
Summary of Recorded Investment in Nonaccrual and Loans Past Due Over 90 Days | |||||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual and loans past due over 90 days at March 31, 2015 and December 31, 2014 (in thousands): | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
Agricultural loans | $ | 1,058 | $ | 1,293 | |||||||||||||||||||||
Commercial real estate loans | 5,992 | 5,163 | |||||||||||||||||||||||
Commercial loans | 4,278 | 3,409 | |||||||||||||||||||||||
Residential real estate loans | 1,506 | 1,690 | |||||||||||||||||||||||
Total | $ | 12,834 | $ | 11,555 | |||||||||||||||||||||
Schedule of Risk Category of Loans by Class of Loans | Based on the most recent analysis performed by management, the risk category of loans by class of loans is as follows as of March 31, 2015 and December 31, 2014 (dollars in thousands): | ||||||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||
Sound/ | Watch | Special | Substandard | Total | |||||||||||||||||||||
Acceptable/ | Mention | Loans | |||||||||||||||||||||||
Satisfactory/ | |||||||||||||||||||||||||
Low Satisfactory | |||||||||||||||||||||||||
Agricultural loans | $ | 347,736 | $ | 43,108 | $ | 7,103 | $ | 10,270 | $ | 408,217 | |||||||||||||||
Commercial real estate loans | 117,270 | 9,655 | 6,259 | 4,043 | 137,227 | ||||||||||||||||||||
Commercial loans | 35,761 | 3,752 | 1,069 | 8,834 | 49,416 | ||||||||||||||||||||
Residential real estate loans | 30,126 | 4,540 | 3,448 | 1,781 | 39,895 | ||||||||||||||||||||
Installment and consumer other | 312 | — | — | — | 312 | ||||||||||||||||||||
Total | $ | 531,205 | $ | 61,055 | $ | 17,879 | $ | 24,928 | $ | 635,067 | |||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||
Sound/ | Watch | Special | Substandard | Total | |||||||||||||||||||||
Acceptable/ | Mention | Loans | |||||||||||||||||||||||
Satisfactory/ | |||||||||||||||||||||||||
Low Satisfactory | |||||||||||||||||||||||||
Agricultural loans | $ | 342,598 | $ | 59,078 | $ | 2,591 | $ | 10,897 | $ | 415,164 | |||||||||||||||
Commercial real estate loans | 104,609 | 23,540 | 6,327 | 3,041 | 137,517 | ||||||||||||||||||||
Commercial loans | 36,205 | 7,568 | 1,062 | 8,910 | 53,745 | ||||||||||||||||||||
Residential real estate loans | 29,738 | 6,288 | 2,863 | 1,996 | 40,885 | ||||||||||||||||||||
Installment and consumer other | 811 | — | — | — | 811 | ||||||||||||||||||||
Total | $ | 513,961 | $ | 96,474 | $ | 12,843 | $ | 24,844 | $ | 648,122 | |||||||||||||||
LOAN_SERVICING_RIGHTS_Tables
LOAN SERVICING RIGHTS (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Transfers And Servicing [Abstract] | |||||||||
Summary of Servicing Rights Capitalized and Amortized Aggregate Activity Related Valuation | The following summarizes servicing rights capitalized and amortized, along with the aggregate activity in related valuation allowances (dollars in thousands): | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Loan servicing rights: | |||||||||
Balance, beginning of period | $ | 7,746 | $ | 7,529 | |||||
Additions | 778 | 3,414 | |||||||
Disposals | (232 | ) | (1,243 | ) | |||||
Amortization | (485 | ) | (1,954 | ) | |||||
Balance, end of period | $ | 7,807 | $ | 7,746 | |||||
DEPOSITS_Tables
DEPOSITS (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Deposits [Abstract] | |||||||||
Summary of Deposits | Deposits are summarized as follows at March 31, 2015 and December 31, 2014 (dollars in thousands): | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
Demand deposits | $ | 66,779 | $ | 81,534 | |||||
Savings | 148,325 | 140,296 | |||||||
Certificates of deposit | 393,337 | 383,639 | |||||||
Total deposits | $ | 608,441 | $ | 605,469 | |||||
EQUITY_INCENTIVE_PLAN_Tables
EQUITY INCENTIVE PLAN (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |||||||||||||
Schedule of Changes in the Plan Activity | The status of the Company’s Plan and changes in the Plan as of March 31, 2015 are as follows (aggregate intrinsic value in thousands): | ||||||||||||
31-Mar-15 | |||||||||||||
Number | Weighted-Average | Aggregate | |||||||||||
of | Exercise Price | Intrinsic | |||||||||||
Options | Value (1) | ||||||||||||
Outstanding, beginning of year | 336,051 | $ | 11.57 | ||||||||||
Granted | 69,167 | 19.28 | |||||||||||
Exercised | (10,000 | ) | 6.9 | ||||||||||
Forfeited/expired | — | — | |||||||||||
Outstanding, end of period | 395,218 | $ | 12.89 | $ | 2,684 | ||||||||
Options exercisable at period-end | 220,400 | $ | 11.23 | $ | 1,863 | ||||||||
Weighted-average fair value of options granted during | $ | 5.05 | |||||||||||
the period (2) | |||||||||||||
-1 | The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on March 31, 2015 and December 31, 2014. This amount changes based on changes in the market value of the Company’s stock. | ||||||||||||
-2 | 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. | ||||||||||||
Schedule of Restricted Stock Award Activity | Activity in restricted stock awards (“RSA”) as of March 31, 2015 are as follows: | ||||||||||||
31-Mar-15 | |||||||||||||
RSAs | Weighted | ||||||||||||
Average Grant | |||||||||||||
Price | |||||||||||||
Outstanding, beginning of year | 34,080 | $ | 12.88 | ||||||||||
Granted | 14,379 | 19.71 | |||||||||||
Vested | — | — | |||||||||||
Forfeited/expired | — | — | |||||||||||
Outstanding, end of period | 48,459 | $ | 14.9 | ||||||||||
REGULATORY_MATTERS_Tables
REGULATORY MATTERS (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | |||||||||||||||||||||||||
Summary of Actual Capital Amount of Company's and Bank's | The Company’s and Bank’s actual capital amounts and ratios are presented in the following table (dollars in thousands): | ||||||||||||||||||||||||
Actual | Minimum For | Minimum To Be Well | |||||||||||||||||||||||
Capital Adequacy | Capitalized Under | ||||||||||||||||||||||||
Purposes: | Prompt Corrective | ||||||||||||||||||||||||
Action Provisions: | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||
Total Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 135,057 | 19.15 | % | $ | 56,429 | 8 | % | Not applicable | ||||||||||||||||
Bank | 115,511 | 16.38 | % | 56,416 | 8 | % | $ | 70,520 | 10 | % | |||||||||||||||
Tier 1 Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 126,240 | 17.9 | % | 42,322 | 6 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 15.13 | % | 42,312 | 6 | % | 56,416 | 8 | % | ||||||||||||||||
Tier 1 Capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 126,240 | 16.14 | % | 31,286 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 13.65 | % | 31,265 | 4 | % | 39,081 | 5 | % | ||||||||||||||||
Tier 1 Common Equity Ratio (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 90,868 | 12.88 | % | 31,741 | 4.5 | % | Not applicable | ||||||||||||||||||
Bank | 106,673 | 15.13 | % | 31,734 | 4.5 | % | 45,838 | 6.5 | % | ||||||||||||||||
December 31, 2014: | |||||||||||||||||||||||||
Total Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | $ | 115,471 | 17.16 | % | $ | 53,819 | 8 | % | Not applicable | ||||||||||||||||
Bank | 112,725 | 16.77 | % | 53,778 | 8 | % | $ | 67,223 | 10 | % | |||||||||||||||
Tier 1 Capital (to risk weighted assets): | |||||||||||||||||||||||||
Consolidated | 107,029 | 15.91 | % | 26,909 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 104,289 | 15.51 | % | 26,889 | 4 | % | 40,334 | 6 | % | ||||||||||||||||
Tier 1 Capital (to average assets): | |||||||||||||||||||||||||
Consolidated | 107,029 | 14.32 | % | 29,901 | 4 | % | Not applicable | ||||||||||||||||||
Bank | 104,289 | 13.96 | % | 29,880 | 4 | % | 37,351 | 5 | % | ||||||||||||||||
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Inputs | Inputs | Inputs | Fair | ||||||||||||||||
Value | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||
U.S. government and agency securities | $ | — | $ | 2,011 | $ | — | $ | 2,011 | |||||||||||
Municipal securities | — | 43,191 | — | 43,191 | |||||||||||||||
Mortgage-backed securities | — | 35,963 | — | 35,963 | |||||||||||||||
Total assets at fair value | $ | — | $ | 81,165 | $ | — | $ | 81,165 | |||||||||||
31-Dec-14 | |||||||||||||||||||
Securities available for sale: | |||||||||||||||||||
U.S. government and agency securities | $ | — | $ | 2,005 | $ | — | $ | 2,005 | |||||||||||
Municipal securities | — | 41,849 | — | 41,849 | |||||||||||||||
Mortgage-backed securities | — | 37,428 | — | 37,428 | |||||||||||||||
Total assets at fair value | $ | — | $ | 81,282 | $ | — | $ | 81,282 | |||||||||||
Financial Instruments Carried on Consolidated Balance Sheet for Which Nonrecurring Change in Fair Value Has Been Recorded | The following table presents the financial instruments carried on the consolidated balance sheet by caption and by level in the fair value hierarchy for which a nonrecurring change in fair value has been recorded (dollars in thousands): | ||||||||||||||||||
Level 1 | Level 2 | Level 3 | Impairment | ||||||||||||||||
Inputs | Inputs | Inputs | Losses | ||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 22,419 | $ | 2,509 | |||||||||||
Other real estate owned | — | — | 5,128 | 182 | |||||||||||||||
Total assets at fair value | $ | — | $ | — | $ | 27,547 | $ | 2,691 | |||||||||||
31-Dec-14 | |||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 21,950 | $ | 2,894 | |||||||||||
Other real estate owned | — | — | 7,137 | 1,190 | |||||||||||||||
Total assets at fair value | $ | — | $ | — | $ | 29,087 | $ | 4,084 | |||||||||||
Significant Inputs Used in Fair Value Measurements for Level 3 Assets Measured on Nonrecurring Basis | The significant inputs used in the fair value measurements for Level 3 assets measured at fair value on a nonrecurring basis are as follows: | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Valuation | Unobservable | Range | |||||||||||||||||
Techniques | Inputs | (Average) | |||||||||||||||||
Impaired loans | Evaluation of collateral | Estimation of value | NM* | ||||||||||||||||
Other real estate owned | Appraisal | Appraisal adjustment | 3%-28% (10%) | ||||||||||||||||
31-Dec-14 | |||||||||||||||||||
Valuation | Unobservable | Range | |||||||||||||||||
Techniques | Inputs | (Average) | |||||||||||||||||
Impaired loans | Evaluation of collateral | Estimation of value | NM* | ||||||||||||||||
Other real estate owned | Appraisal | Appraisal adjustment | 3%-28% (9%) | ||||||||||||||||
Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments | The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (dollars in thousands): | ||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||
2015 | 2014 | ||||||||||||||||||
Carrying | Fair | Carrying | Fair | Input | |||||||||||||||
Amount | Value | Amount | Value | Level | |||||||||||||||
Financial assets: | |||||||||||||||||||
Cash and cash equivalents | $ | 29,743 | $ | 29,743 | $ | 10,480 | $ | 10,480 | 1 | ||||||||||
FHLB Stock | 1,470 | 1,470 | 1,252 | 1,252 | 2 | ||||||||||||||
Securities available for sale | 81,165 | 81,165 | 81,282 | 81,282 | 2 | ||||||||||||||
Loans, net of allowance for loan losses | 624,798 | 635,448 | 637,519 | 647,973 | 3 | ||||||||||||||
Loans held for sale | 9,376 | 9,376 | 4,114 | 4,114 | 3 | ||||||||||||||
Accrued interest receivable | 2,386 | 2,386 | 2,219 | 2,219 | 2 | ||||||||||||||
Loan servicing rights | 7,807 | 11,331 | 7,746 | 10,043 | 3 | ||||||||||||||
Financial liabilities: | |||||||||||||||||||
Deposits: | |||||||||||||||||||
Time | 393,337 | 398,238 | 383,639 | 388,141 | 3 | ||||||||||||||
Other deposits | 215,104 | 215,104 | 221,830 | 221,830 | 1 | ||||||||||||||
Other borrowings | 5,646 | 5,646 | 23,857 | 23,857 | 3 | ||||||||||||||
Advances from FHLB | 33,000 | 33,580 | 28,000 | 28,510 | 3 | ||||||||||||||
Subordinated debentures | 12,372 | 12,372 | 12,372 | 12,372 | 3 | ||||||||||||||
Accrued interest payable | 1,246 | 1,246 | 1,284 | 1,284 | 2 | ||||||||||||||
OTHER_REAL_ESTATE_OWNED_Tables
OTHER REAL ESTATE OWNED (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Real Estate Owned Disclosure Of Detailed Components [Abstract] | |||||||||
Summary of Other Real Estate Owned | Changes in other real estate owned are as follows (dollars in thousands): | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Balance, beginning of year | $ | 7,137 | $ | 16,083 | |||||
Assets foreclosed | — | — | |||||||
Write-down of other real estate owned | (182 | ) | (685 | ) | |||||
Net gain (loss) on sales of other real estate owned | (373 | ) | — | ||||||
Capitalized additions to other real estate owned | 39 | — | |||||||
Proceeds from sale of other real estate owned | (1,493 | ) | (1,255 | ) | |||||
Balance, end of period | $ | 5,128 | $ | 14,143 | |||||
Expenses Applicable to Other Real Estate Owned | Expenses applicable to other real estate owned include the following (dollars in thousands): | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Net loss (gain) on sales of other real estate owned | $ | 373 | $ | - | |||||
Write-down of other real estate owned | 182 | 685 | |||||||
Operating expenses, net of rental income | (31 | ) | 50 | ||||||
$ | 524 | $ | 735 | ||||||
Earnings_Per_Share_Calculation
Earnings Per Share - Calculations for basic and diluted earnings (loss) per common share (Details) (USD $) | 3 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | |||
Net income | $2,526 | $1,690 | [1] |
Less: preferred stock dividends | 118 | 118 | [1] |
Income available to common shareholders for basic EPS | $2,408 | $1,572 | [1] |
Average number of common shares issued | 6,193 | 5,249 | [1] |
Less: weighted average treasury shares | 410 | 355 | [1] |
Less: weighted average nonvested equity incentive plan shares | 348 | 425 | [1] |
Weighted average number of common shares outstanding | 5,435 | 4,469 | [1] |
Effect of dilutive options | 120 | 93 | [1] |
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 5,555 | 4,562 | [1] |
[1] | 10-for-1 Stock split adjusted |
Earnings_Per_Share_Calculation1
Earnings Per Share - Calculations for basic and diluted earnings (loss) per common share (Parenthetical) (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | |
Stock split ratio | 10 |
Recovered_Sheet1
Securities Available for Sale - Amortized cost and fair value of securities available for sale (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $80,049 | $80,646 |
Unrealized Gains | 1,159 | 874 |
Unrealized Losses | -43 | -238 |
Fair Value | 81,165 | 81,282 |
U.S. Government and Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 2,005 | 2,006 |
Unrealized Gains | 6 | 1 |
Unrealized Losses | -2 | |
Fair Value | 2,011 | 2,005 |
Municipal securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 42,851 | 41,751 |
Unrealized Gains | 362 | 237 |
Unrealized Losses | -22 | -139 |
Fair Value | 43,191 | 41,849 |
Mortgage-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 35,193 | 36,889 |
Unrealized Gains | 791 | 636 |
Unrealized Losses | -21 | -97 |
Fair Value | $35,963 | $37,428 |
Securities_Available_for_Sale_1
Securities Available for Sale - Amortized cost and fair value of securities available for sale by contractual maturity (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available For Sale Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $3,749 | $2,007 |
Due from one to five years, Amortized Cost | 40,736 | 41,750 |
Due from five to ten years, Amortized Cost | 371 | |
Mortgage-backed securities, Amortized Cost | 35,193 | 36,889 |
Amortized Cost | 80,049 | 80,646 |
Due in one year or less, Fair Value | 3,761 | 2,011 |
Due from one to five years, Fair Value | 41,071 | 41,843 |
Due from five to ten years, Fair Value | 370 | |
Mortgage-backed securities, Fair Value | 35,963 | 37,428 |
Fair Value | $81,165 | $81,282 |
Securities_Available_for_Sale_2
Securities Available for Sale - Additional Information (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Available For Sale Securities [Abstract] | ||
Realized gain (loss) on available-for-sale securities | $0 | $0 |
Securities_Available_for_Sale_3
Securities Available for Sale - Gross unrealized losses and fair value of investment with unrealized losses (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | $6,689 | $24,419 |
Investments with unrealized losses less than 12 months, unrealized losses | -26 | -135 |
Investments with unrealized losses 12 months or greater, fair value | 2,819 | 9,387 |
Investments with unrealized losses 12 months or greater, unrealized losses | -17 | -103 |
Investments with unrealized losses, fair value | 9,508 | 33,806 |
Investments with unrealized losses, unrealized losses | -43 | -238 |
U.S. Government and Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 997 | |
Investments with unrealized losses less than 12 months, unrealized losses | -2 | |
Investments with unrealized losses, fair value | 997 | |
Investments with unrealized losses, unrealized losses | -2 | |
Municipal securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 5,122 | 16,724 |
Investments with unrealized losses less than 12 months, unrealized losses | -21 | -100 |
Investments with unrealized losses 12 months or greater, fair value | 453 | 3,736 |
Investments with unrealized losses 12 months or greater, unrealized losses | -1 | -39 |
Investments with unrealized losses, fair value | 5,575 | 20,460 |
Investments with unrealized losses, unrealized losses | -22 | -139 |
Mortgage-backed securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments with unrealized losses less than 12 months, fair value | 1,567 | 6,698 |
Investments with unrealized losses less than 12 months, unrealized losses | -5 | -33 |
Investments with unrealized losses 12 months or greater, fair value | 2,366 | 5,651 |
Investments with unrealized losses 12 months or greater, unrealized losses | -16 | -64 |
Investments with unrealized losses, fair value | 3,933 | 12,349 |
Investments with unrealized losses, unrealized losses | ($21) | ($97) |
Loans_Components_of_Loans_Deta
Loans - Components of Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Receivables [Abstract] | ||||
Agricultural loans | $408,217 | $415,164 | ||
Commercial real estate loans | 137,227 | 137,517 | ||
Commercial loans | 49,416 | 53,745 | ||
Residential real estate loans | 39,895 | 40,885 | ||
Installment and consumer other | 312 | 811 | ||
Total gross loans | 635,067 | 648,122 | ||
Allowance for loan losses | -10,269 | -10,603 | -10,524 | -10,495 |
Loans, net | $624,798 | $637,519 |
Loans_Changes_in_Allowance_for
Loans - Changes in Allowance for Loan Losses by Segment (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Receivables [Abstract] | ||
Balance, beginning of year | $10,603 | $10,495 |
Recovery for loan losses | -602 | |
Loans charged off | -149 | -3 |
Recoveries | 417 | 32 |
Balance, end of period | $10,269 | $10,524 |
Loans_Balances_in_Allowance_fo
Loans - Balances in Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | $2,509 | $2,894 |
Allowance for loan losses collectively evaluated for impairment | 7,760 | 7,709 |
Total | 10,269 | 10,603 |
Loans: | ||
Loans individually evaluated for impairment | 24,928 | 24,844 |
Loans collectively evaluated for impairment | 610,139 | 623,278 |
Total | 635,067 | 648,122 |
Loans individually evaluated for impairment | 22,419 | 21,950 |
Loans collectively evaluated for impairment | 602,379 | 615,569 |
Loans, net | 624,798 | 637,519 |
Agricultural Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 198 | 242 |
Allowance for loan losses collectively evaluated for impairment | 3,494 | 3,214 |
Total | 3,692 | 3,456 |
Loans: | ||
Loans individually evaluated for impairment | 10,270 | 10,897 |
Loans collectively evaluated for impairment | 397,947 | 404,267 |
Total | 408,217 | 415,164 |
Commercial Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 338 | 519 |
Allowance for loan losses collectively evaluated for impairment | 2,548 | 2,807 |
Total | 2,886 | 3,326 |
Loans: | ||
Loans individually evaluated for impairment | 4,043 | 3,041 |
Loans collectively evaluated for impairment | 133,184 | 134,476 |
Total | 137,227 | 137,517 |
Commercial Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 1,746 | 1,848 |
Allowance for loan losses collectively evaluated for impairment | 575 | 572 |
Total | 2,321 | 2,420 |
Loans: | ||
Loans individually evaluated for impairment | 8,834 | 8,910 |
Loans collectively evaluated for impairment | 40,582 | 44,835 |
Total | 49,416 | 53,745 |
Residential Real Estate Loans | ||
Allowance for loan losses: | ||
Allowance for loan losses individually evaluated for impairment | 227 | 285 |
Allowance for loan losses collectively evaluated for impairment | 1,140 | 1,107 |
Total | 1,367 | 1,392 |
Loans: | ||
Loans individually evaluated for impairment | 1,781 | 1,996 |
Loans collectively evaluated for impairment | 38,114 | 38,889 |
Total | 39,895 | 40,885 |
Installment and Consumer Other | ||
Allowance for loan losses: | ||
Allowance for loan losses collectively evaluated for impairment | 3 | 9 |
Total | 3 | 9 |
Loans: | ||
Loans collectively evaluated for impairment | 312 | 811 |
Total | $312 | $811 |
Loans_Aging_of_Recorded_Invest
Loans - Aging of Recorded Investment in Past Due Loans (Details ) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
30-59 Days Past Due | $2,925 | $361 |
60-89 Days Past Due | 51 | |
90+ Days Past Due | 6,302 | 6,730 |
Total Past Due | 9,227 | 7,142 |
Loans Not Past Due | 625,840 | 640,980 |
Total Loans | 635,067 | 648,122 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
30-59 Days Past Due | 2,743 | 355 |
60-89 Days Past Due | 9 | |
90+ Days Past Due | 392 | 238 |
Total Past Due | 3,135 | 602 |
Loans Not Past Due | 405,082 | 414,562 |
Total Loans | 408,217 | 415,164 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
90+ Days Past Due | 2,418 | 2,592 |
Total Past Due | 2,418 | 2,592 |
Loans Not Past Due | 134,809 | 134,925 |
Total Loans | 137,227 | 137,517 |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
30-59 Days Past Due | 132 | |
60-89 Days Past Due | 42 | |
90+ Days Past Due | 3,140 | 3,366 |
Total Past Due | 3,272 | 3,408 |
Loans Not Past Due | 46,144 | 50,337 |
Total Loans | 49,416 | 53,745 |
Residential Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
30-59 Days Past Due | 50 | 6 |
90+ Days Past Due | 352 | 534 |
Total Past Due | 402 | 540 |
Loans Not Past Due | 39,493 | 40,345 |
Total Loans | 39,895 | 40,885 |
Installment and Consumer Other | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Loans Not Past Due | 312 | 811 |
Total Loans | $312 | $811 |
Loans_Nonaccrual_Restructured_
Loans - Nonaccrual, Restructured and Certain Past Due Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ||
Nonaccrual loans, 90 days or more past due | $6,302 | $6,730 |
Nonaccrual loans 30-89 days past due | 132 | 200 |
Nonaccrual loans, less than 30 days past due | 6,400 | 4,625 |
Restructured loans not on nonaccrual status | $826 | $846 |
Loans_Recorded_Investment_in_N
Loans - Recorded Investment in Nonaccrual and Loans Past Due Over 90 Days (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due over 90 days | $12,834,000 | $11,555,000 |
Agricultural Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due over 90 days | 1,058,000 | 1,293,000 |
Commercial Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due over 90 days | 5,992,000 | 5,163,000 |
Commercial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due over 90 days | 4,278,000 | 3,409,000 |
Residential Real Estate Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Recorded investment in nonaccrual and loans past due over 90 days | $1,506,000 | $1,690,000 |
Loans_Additional_Information_D
Loans - Additional Information (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts Notes And Loans Receivable [Line Items] | ||
Specific reserve to customers whose loan terms have been modified in TDR | $326,000 | $538,000 |
Additional lending commitments to customers with outstanding loans that are classified as TDR | 0 | 0 |
TDR loans | 4,509,000 | 4,573,000 |
Recorded investment in nonaccrual loans | 12,834,000 | 11,555,000 |
TDR loans, restructured and accruing | 826,000 | 846,000 |
Minimum exposure for annual internal credit review | 300,000 | |
TDR Loans | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Recorded investment in nonaccrual loans | 3,683,000 | 3,727,000 |
TDR loans, unfunded commitments | $0 | $0 |
Loans_Risk_Category_of_Loans_b
Loans - Risk Category of Loans by Class of Loans (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Agricultural loans | $408,217 | $415,164 |
Commercial real estate loans | 137,227 | 137,517 |
Commercial loans | 49,416 | 53,745 |
Residential real estate loans | 39,895 | 40,885 |
Installment and consumer other | 312 | 811 |
Total gross loans | 635,067 | 648,122 |
Sound/ Acceptable/ Satisfactory/ Low Satisfactory | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Agricultural loans | 347,736 | 342,598 |
Commercial real estate loans | 117,270 | 104,609 |
Commercial loans | 35,761 | 36,205 |
Residential real estate loans | 30,126 | 29,738 |
Installment and consumer other | 312 | 811 |
Total gross loans | 531,205 | 513,961 |
Watch | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Agricultural loans | 43,108 | 59,078 |
Commercial real estate loans | 9,655 | 23,540 |
Commercial loans | 3,752 | 7,568 |
Residential real estate loans | 4,540 | 6,288 |
Total gross loans | 61,055 | 96,474 |
Special Mention | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Agricultural loans | 7,103 | 2,591 |
Commercial real estate loans | 6,259 | 6,327 |
Commercial loans | 1,069 | 1,062 |
Residential real estate loans | 3,448 | 2,863 |
Total gross loans | 17,879 | 12,843 |
Substandard | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Agricultural loans | 10,270 | 10,897 |
Commercial real estate loans | 4,043 | 3,041 |
Commercial loans | 8,834 | 8,910 |
Residential real estate loans | 1,781 | 1,996 |
Total gross loans | $24,928 | $24,844 |
Loan_Servicing_Rights_Addition
Loan Servicing Rights - Additional Information (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Servicing Assets At Fair Value [Line Items] | ||
Unpaid principal balance of mortgage | $437,100,000 | $429,300,000 |
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, discount rate | 10.00% | |
Minimum | ||
Servicing Assets At Fair Value [Line Items] | ||
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, Prepayment speed | 4.00% | |
Maximum | ||
Servicing Assets At Fair Value [Line Items] | ||
Servicing assets and servicing liabilities at fair value, assumptions used to estimate fair value, Prepayment speed | 9.00% | |
Level 3 Inputs | ||
Servicing Assets At Fair Value [Line Items] | ||
Loan servicing rights, fair value | $11,331,000 | $10,043,000 |
Loan_Servicing_Rights_Summery_
Loan Servicing Rights - Summery of Servicing Rights Capitalized and Amortized (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Transfers And Servicing [Abstract] | ||
Balance, beginning of period | $7,746 | $7,529 |
Additions | 778 | 3,414 |
Disposals | -232 | -1,243 |
Amortization | -485 | -1,954 |
Balance, end of period | $7,807 | $7,746 |
Deposits_Summary_of_Deposits_D
Deposits - Summary of Deposits (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ||
Demand deposits | $66,779 | $81,534 |
Savings | 148,325 | 140,296 |
Certificates of deposit | 393,337 | 383,639 |
Total deposits | $608,441 | $605,469 |
Deposits_Additional_Informatio
Deposits - Additional Information (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Deposits [Abstract] | ||
Brokered deposits | $145.10 | $125.40 |
Equity_Incentive_Plan_Status_o
Equity Incentive Plan - Status of Stock Option Plan and Changes in that Plan (Details) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 |
Number of Options | |
Options, Outstanding beginning of year | 336,051 |
Options, Granted | 69,167 |
Options, Exercised | -10,000 |
Options, Forfeited/expired | 0 |
Options, Outstanding end of period | 395,218 |
Options exercisable at period-end | 220,400 |
Weighted-Average Exercise Price | |
Weighted Average Exercise price, Outstanding, beginning of year | $11.57 |
Weighted Average Exercise Price, Granted | $19.28 |
Weighted Average Exercise Price, Exercised | $6.90 |
Weighted Average Exercise Price, Outstanding, end of period | $12.89 |
Weighted Average Exercise Price, Options exercisable at period-end | $11.23 |
Weighted-average fair value of options granted during the period | $5.05 |
Aggregate Intrinsic Value | |
Aggregate Intrinsic Value, Outstanding, end of period | $2,684 |
Aggregate Intrinsic Value, Options exercisable at period-end | $1,863 |
Equity_Incentive_Plan_Activity
Equity Incentive Plan - Activity in Restricted Stock Awards (Details) (RSAs, USD $) | 3 Months Ended |
Mar. 31, 2015 | |
RSAs | |
Number of RSAs | |
RSAs Outstanding, beginning of year | 34,080 |
RSAs Granted | 14,379 |
RSAs Vested | 0 |
RSAs Forfeited/expired | 0 |
RSAs Outstanding, end of period | 48,459 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Price Outstanding, Beginning of year | $12.88 |
Weighted Average Grant Price Outstanding, Granted | $19.71 |
Weighted Average Grant Price Outstanding, Vested | $0 |
Weighted Average Grant Price Outstanding, Forfeited/expired | $0 |
Weighted Average Grant Price Outstanding, End of year | $14.90 |
Equity_Incentive_Plan_Addition
Equity Incentive Plan - Additional Information (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
share-based compensation expense | $53,000 | ($4,000) |
Unrecognized share-based compensation expense related to nonvested options amounted | $818,000 | |
Employee Stock Option | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense related to nonvested options amounted, weighted average period of recognition | 2 years 5 months 27 days |
Regulatory_Matters_Companys_an
Regulatory Matters - Company's and Bank's Actual Capital Amounts and Ratios (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to risk weighted assets), Actual Amount | $135,057 | $115,471 |
Total Capital (to risk weighted assets), Actual Ratio | 19.15% | 17.16% |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | 56,429 | 53,819 |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | 8.00% | 8.00% |
Tier 1 Capital (to risk weighted assets), Actual Amount | 126,240 | 107,029 |
Tier 1 Capital (to risk weighted assets), Actual Ratio | 17.90% | 15.91% |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | 42,322 | 26,909 |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | 6.00% | 4.00% |
Tier 1 Capital (to average assets), Actual Amount | 126,240 | 107,029 |
Tier 1 Capital (to average assets), Actual Ratio | 16.14% | 14.32% |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | 31,286 | 29,901 |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 Common Equity Ratio (to risk weighted assets), Actual Amount | 90,868 | |
Tier 1 Common Equity Ratio (to risk weighted assets), Actual Ratio | 12.88% | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | 31,741 | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | 4.50% | |
Bank | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total Capital (to risk weighted assets), Actual Amount | 115,511 | 112,725 |
Total Capital (to risk weighted assets), Actual Ratio | 16.38% | 16.77% |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Amount | 56,416 | 53,778 |
Total Capital (to risk weighted assets), Minimum For Capital Adequacy Purpose, Ratio | 8.00% | 8.00% |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 70,520 | 67,223 |
Total Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to risk weighted assets), Actual Amount | 106,673 | 104,289 |
Tier 1 Capital (to risk weighted assets), Actual Ratio | 15.13% | 15.51% |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | 42,312 | 26,889 |
Tier 1 Capital (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | 6.00% | 4.00% |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 56,416 | 40,334 |
Tier 1 Capital (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 6.00% |
Tier 1 Capital (to average assets), Actual Amount | 106,673 | 104,289 |
Tier 1 Capital (to average assets), Actual Ratio | 13.65% | 13.96% |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Amount | 31,265 | 29,880 |
Tier 1 Capital (to average assets), Minimum To Be Adequately Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 Capital (to average assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 39,081 | 37,351 |
Tier 1 Capital (to average assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Tier 1 Common Equity Ratio (to risk weighted assets), Actual Amount | 106,673 | |
Tier 1 Common Equity Ratio (to risk weighted assets), Actual Ratio | 15.13% | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum For Capital Adequacy Purposes, Amount | 31,734 | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum For Capital Adequacy Purposes, Ratio | 4.50% | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $45,838 | |
Tier 1 Common Equity Ratio (to risk weighted assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $81,165 | $81,282 |
Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 81,165 | 81,282 |
Fair Value on a Recurring Basis | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 81,165 | 81,282 |
Fair Value on a Recurring Basis | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 81,165 | 81,282 |
Fair Value on a Recurring Basis | U.S. Government and Agency Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 2,011 | 2,005 |
Fair Value on a Recurring Basis | U.S. Government and Agency Securities | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 2,011 | 2,005 |
Fair Value on a Recurring Basis | Municipal securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 43,191 | 41,849 |
Fair Value on a Recurring Basis | Municipal securities | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 43,191 | 41,849 |
Fair Value on a Recurring Basis | Mortgage-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | 35,963 | 37,428 |
Fair Value on a Recurring Basis | Mortgage-backed securities | Level 2 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Fair Value | $35,963 | $37,428 |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Instruments Carried on Consolidated Balance Sheet for Which Nonrecurring Change in Fair Value Has Been Recorded (Details) (Fair Value on a Nonrecurring Basis, USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | $2,691 | $4,084 |
Level 3 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 27,547 | 29,087 |
Impaired Loans | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | 2,509 | 2,894 |
Impaired Loans | Level 3 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 22,419 | 21,950 |
Other Real Estate Owned | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impairment Losses | 182 | 1,190 |
Other Real Estate Owned | Level 3 Inputs | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $5,128 | $7,137 |
Fair_Value_Measurements_Signif
Fair Value Measurements - Significant Inputs Used in Fair Value Measurements for Level 3 Assets Measured on Nonrecurring Basis (Details) (Level 3 Inputs) (Level 3 Inputs) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Impaired Loans | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | Evaluation of collateral | |
Unobservable Inputs | Estimation of value | |
Other Real Estate Owned | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Valuation Techniques | Appraisal | |
Unobservable Inputs | Appraisal adjustment | |
Other Real Estate Owned | Minimum | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 3.00% | 3.00% |
Other Real Estate Owned | Maximum | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 28.00% | 28.00% |
Other Real Estate Owned | Weighted Average | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Range (Average) | 10.00% | 9.00% |
Fair_Value_Measurements_Estima
Fair Value Measurements - Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ||||
Cash and cash equivalents | $29,743 | $10,480 | $56,915 | $71,780 |
FHLB Stock | 1,470 | 1,252 | ||
Securities available for sale | 81,165 | 81,282 | ||
Loans, net of allowance for loan losses | 624,798 | 637,519 | ||
Loans held for sale | 9,376 | 4,114 | ||
Accrued interest receivable | 2,386 | 2,219 | ||
Loan servicing rights | 7,807 | 7,746 | 7,529 | |
Financial liabilities: | ||||
Deposit | 608,441 | 605,469 | ||
Other borrowings | 5,646 | 23,857 | ||
Advances from FHLB | 33,000 | 28,000 | ||
Subordinated debentures | 12,372 | 12,372 | ||
Accrued interest payable | 1,246 | 1,284 | ||
Other Deposits | ||||
Financial liabilities: | ||||
Deposit | 215,104 | 221,830 | ||
Level 3 Inputs | ||||
Financial assets: | ||||
Loans, net of allowance for loan losses, Fair Value | 635,448 | 647,973 | ||
Loans held for sale, Fair Value | 9,376 | 4,114 | ||
Loan servicing rights, fair value | 11,331 | 10,043 | ||
Financial liabilities: | ||||
Other borrowings | 5,646 | 23,857 | ||
Advances from FHLB | 33,000 | 28,000 | ||
Subordinated debentures | 12,372 | 12,372 | ||
Other borrowings, Fair Value | 5,646 | 23,857 | ||
Advances from FHLB, Fair Value | 33,580 | 28,510 | ||
Subordinated debentures, Fair Value | 12,372 | 12,372 | ||
Level 3 Inputs | Bank Time Deposits | ||||
Financial liabilities: | ||||
Deposit | 393,337 | 383,639 | ||
Level 3 Inputs | Other Deposits | ||||
Financial liabilities: | ||||
Deposits, Fair Value | 398,238 | 388,141 | ||
Level 1 Inputs | ||||
Financial assets: | ||||
Cash and cash equivalents, Fair Value | 29,743 | 10,480 | ||
Level 1 Inputs | Other Deposits | ||||
Financial liabilities: | ||||
Deposits, Fair Value | 215,104 | 221,830 | ||
Level 2 Inputs | ||||
Financial assets: | ||||
Securities available for sale | 81,165 | 81,282 | ||
FHLB Stock, Fair Value | 1,470 | 1,252 | ||
Accrued interest receivable, Fair Value | 2,386 | 2,219 | ||
Financial liabilities: | ||||
Accrued interest payable, Fair Value | $1,246 | $1,284 |
Other_Real_Estate_Owned_Change
Other Real Estate Owned - Changes in Other Real Estate Owned (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||
Balance, beginning of year | $7,137 | $16,083 |
Write-down of other real estate owned | -182 | -685 |
Net gain (loss) on sales of other real estate owned | -373 | |
Capitalized additions to other real estate owned | 39 | |
Proceeds from sale of other real estate owned | -1,493 | -1,255 |
Balance, end of period | $5,128 | $14,143 |
Other_Real_Estate_Owned_Expens
Other Real Estate Owned - Expenses Applicable to Other Real Estate Owned (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Real Estate Owned Disclosure Of Detailed Components [Abstract] | ||
Realized loss on sales of other real estate owned | $373 | |
Write-down of other real estate owned | 182 | 685 |
Operating expenses, net of rental income | -31 | 50 |
Total Expenses | $524 | $735 |