Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 05, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'FedFirst Financial Corp | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 2,418,493 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001486058 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Condition (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $1,984 | $2,044 |
Interest-earning deposits | 12,105 | 3,830 |
Total cash and cash equivalents | 14,089 | 5,874 |
Securities available-for-sale | 28,969 | 42,582 |
Loans, net | 261,737 | 249,530 |
Federal Home Loan Bank ("FHLB") stock, at cost | 2,264 | 3,787 |
Accrued interest receivable - loans | 852 | 829 |
Accrued interest receivable - securities | 156 | 206 |
Premises and equipment, net | 1,696 | 1,797 |
Bank-owned life insurance | 8,499 | 8,317 |
Goodwill | 1,080 | 1,080 |
Real estate owned | 505 | 146 |
Deferred tax assets | 2,112 | 2,511 |
Other assets | 554 | 2,101 |
Total assets | 322,513 | 318,760 |
Deposits: | ' | ' |
Noninterest-bearing | 29,495 | 23,987 |
Interest-bearing | 195,373 | 190,070 |
Total deposits | 224,868 | 214,057 |
Borrowings | 42,500 | 48,678 |
Advance payments by borrowers for taxes and insurance | 113 | 681 |
Accrued interest payable - deposits | 98 | 144 |
Accrued interest payable - borrowings | 153 | 158 |
Other liabilities | 1,517 | 1,748 |
Total liabilities | 269,249 | 265,466 |
FedFirst Financial Corporation stockholders' equity: | ' | ' |
Preferred stock $0.01 par value; 10,000,000 shares authorized; none issued | 0 | 0 |
Common stock $0.01 par value; 20,000,000 shares authorized; 2,431,993 and 2,540,341 shares issued and outstanding | 24 | 25 |
Additional paid-in-capital | 32,859 | 34,986 |
Retained earnings - substantially restricted | 21,265 | 19,821 |
Accumulated other comprehensive income (loss), net of deferred taxes (benefit) of $64 and $(250) | 98 | -388 |
Unearned Employee Stock Ownership Plan ("ESOP") | -1,080 | -1,210 |
Total FedFirst Financial Corporation stockholders' equity | 53,166 | 53,234 |
Noncontrolling interest in subsidiary | 98 | 60 |
Total stockholders' equity | 53,264 | 53,294 |
Total liabilities and stockholders' equity | $322,513 | $318,760 |
Consolidated_Statements_Of_Fin1
Consolidated Statements Of Financial Condition (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Preferred stock par value (in Dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 2,431,993 | 2,540,341 |
Common stock, shares outstanding | 2,431,993 | 2,540,341 |
Deferred taxes (benefit) (in Dollars) | $64 | ($250) |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income: | ' | ' | ' | ' |
Loans | $2,912 | $3,092 | $8,855 | $9,292 |
Securities - taxable | 196 | 361 | 695 | 1,182 |
Securities - tax exempt | 37 | 38 | 113 | 111 |
Other interest-earning assets | 10 | 9 | 18 | 24 |
Total interest income | 3,155 | 3,500 | 9,681 | 10,609 |
Interest expense: | ' | ' | ' | ' |
Deposits | 341 | 457 | 1,086 | 1,592 |
Borrowings | 317 | 394 | 967 | 1,279 |
Total interest expense | 658 | 851 | 2,053 | 2,871 |
Net interest income | 2,497 | 2,649 | 7,628 | 7,738 |
Provision for loan losses | 200 | 100 | 365 | 310 |
Net interest income after provision for loan losses | 2,297 | 2,549 | 7,263 | 7,428 |
Noninterest income: | ' | ' | ' | ' |
Fees and service charges | 187 | 159 | 576 | 476 |
Insurance commissions | 755 | 562 | 2,505 | 1,747 |
Income from bank-owned life insurance | 60 | 97 | 182 | 227 |
Other | 6 | 12 | 98 | 93 |
Total noninterest income | 1,008 | 830 | 3,361 | 2,543 |
Noninterest expense: | ' | ' | ' | ' |
Compensation and employee benefits | 1,484 | 1,405 | 4,584 | 4,199 |
Occupancy | 271 | 291 | 849 | 908 |
FDIC insurance premiums | 44 | 50 | 134 | 162 |
Data processing | 144 | 142 | 427 | 412 |
Professional services | 139 | 137 | 441 | 536 |
Advertising | 123 | 47 | 385 | 121 |
Other | 346 | 307 | 935 | 962 |
Total noninterest expense | 2,551 | 2,379 | 7,755 | 7,300 |
Income before income tax expense and noncontrolling interest in net income of consolidated subsidiary | 754 | 1,000 | 2,869 | 2,671 |
Income tax expense | 273 | 346 | 966 | 946 |
Net income before noncontrolling interest in net income of consolidated subsidiary | 481 | 654 | 1,903 | 1,725 |
Noncontrolling interest in net income of consolidated subsidiary | 18 | 5 | 70 | 26 |
Net income of FedFirst Financial Corporation | $463 | $649 | $1,833 | $1,699 |
Earnings per share: | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.20 | $0.23 | $0.75 | $0.60 |
Diluted (in Dollars per share) | $0.19 | $0.23 | $0.75 | $0.60 |
Weighted-average shares outstanding: | ' | ' | ' | ' |
Basic (in Shares) | 2,373,378 | 2,867,983 | 2,428,692 | 2,836,388 |
Diluted (in Shares) | 2,407,398 | 2,871,313 | 2,460,099 | 2,839,577 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income before noncontrolling interest in net income of consolidated subsidiary | $481 | $654 | $1,903 | $1,725 |
Other comprehensive income: | ' | ' | ' | ' |
Unrealized gain on securities available-for-sale, net of income tax expense | 486 | 136 | 486 | 33 |
Other comprehensive income, net of income tax expense | 486 | 136 | 486 | 33 |
Comprehensive income | 967 | 790 | 2,389 | 1,758 |
Less: Comprehensive income attributable to the noncontrolling interest in subsidiary | 18 | 5 | 70 | 26 |
Comprehensive income attributable to FedFirst Financial Corporation | $949 | $785 | $2,319 | $1,732 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholdersb Equity (Unaudited) (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Deferred Compensation, Share-based Payments [Member] | Noncontrolling Interest [Member] | Total |
In Thousands, unless otherwise specified | |||||||
Balance at Dec. 31, 2011 | $30 | $41,630 | $18,650 | ($167) | ($1,382) | $40 | $58,801 |
Purchase and retirement of common stock | -1 | -1,565 | ' | ' | ' | ' | -1,566 |
ESOP shares committed to be released | ' | -42 | ' | ' | 129 | ' | 87 |
Stock-based compensation expense | ' | 108 | ' | ' | ' | ' | 108 |
Stock awards granted | ' | -226 | ' | ' | ' | ' | -226 |
Distribution to noncontrolling shareholder | ' | ' | ' | ' | ' | -12 | -12 |
Dividends paid | ' | ' | -312 | ' | ' | ' | -312 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 1,699 | ' | ' | 26 | 1,725 |
Other comprehensive income, net of tax | ' | ' | ' | 33 | ' | ' | 33 |
Issuance of common stock | ' | 226 | ' | ' | ' | ' | 226 |
Balance at Sep. 30, 2012 | 29 | 40,131 | 20,037 | -134 | -1,253 | 54 | 58,864 |
Balance at Dec. 31, 2012 | 25 | 34,986 | 19,821 | -388 | -1,210 | 60 | 53,294 |
Purchase and retirement of common stock | -1 | -2,298 | ' | ' | ' | ' | -2,299 |
ESOP shares committed to be released | ' | -17 | ' | ' | 130 | ' | 113 |
Stock-based compensation expense | ' | 190 | ' | ' | ' | ' | 190 |
Stock awards granted | ' | -260 | ' | ' | ' | ' | -260 |
Stock options exercised | ' | -2 | ' | ' | ' | ' | -2 |
Distribution to noncontrolling shareholder | ' | ' | ' | ' | ' | -32 | -32 |
Dividends paid | ' | ' | -389 | ' | ' | ' | -389 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 1,833 | ' | ' | 70 | 1,903 |
Other comprehensive income, net of tax | ' | ' | ' | 486 | ' | ' | 486 |
Issuance of common stock | ' | 260 | ' | ' | ' | ' | 260 |
Balance at Sep. 30, 2013 | $24 | $32,859 | $21,265 | $98 | ($1,080) | $98 | $53,264 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholdersb Equity (Unaudited) (Parentheticals) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Common Stock [Member] | ' | ' |
Issuance of common stock, shares | 14,750 | 16,240 |
Purchase and retirement of common stock, shares | 122,957 | 109,442 |
Stock awards granted, shares | 14,750 | 16,240 |
Retained Earnings [Member] | ' | ' |
Dividends paid, per share (in Dollars per share) | 0.16 | 0.11 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' |
Other comprehensive income (loss), tax (in Dollars) | 314 | 21 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income of FedFirst Financial Corporation | $1,833,000 | $1,699,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Noncontrolling interest in net income of consolidated subsidiary | 70,000 | 26,000 |
Provision for loan losses | 365,000 | 310,000 |
Depreciation | 217,000 | 290,000 |
Amortization of intangibles | 42,000 | 82,000 |
Impairment loss on real estate owned | 42,000 | ' |
Net amortization of security premiums and loan costs | 315,000 | 475,000 |
Noncash expense for ESOP | 113,000 | 87,000 |
Noncash expense for stock-based compensation | 190,000 | 108,000 |
Increase in bank-owned life insurance | -182,000 | -227,000 |
Refund of FDIC prepaid insurance assessment | 643,000 | ' |
Decrease in other assets | 947,000 | 407,000 |
Increase (decrease) in other liabilities | -282,000 | -498,000 |
Net cash provided by operating activities | 4,313,000 | 2,792,000 |
Cash flows from investing activities: | ' | ' |
Net loan (originations) repayments | -13,183,000 | 3,219,000 |
Proceeds from maturities of and principal repayments of securities available-for-sale | 14,202,000 | 14,519,000 |
Purchases of securities available-for-sale | ' | -10,940,000 |
Purchases of premises and equipment | -116,000 | -94,000 |
Decrease in FHLB stock, at cost | 1,523,000 | 982,000 |
Proceeds from sales of real estate owned | 131,000 | 366,000 |
Cash surrender value of bank owned life insurance policy surrendered | ' | 239,000 |
Income for cash surrender value of bank owned life insurance policy surrendered | ' | -33,000 |
Net cash provided by investing activities | 2,557,000 | 8,258,000 |
Cash flows from financing activities: | ' | ' |
Net decrease in short-term borrowings | -4,188,000 | ' |
Repayments of long-term borrowings | -1,990,000 | -11,456,000 |
Net increase (decrease) in deposits | 10,811,000 | -1,509,000 |
Decrease in advance payments by borrowers for taxes and insurance | -568,000 | -249,000 |
Purchase and retirement of common stock | -2,299,000 | -1,566,000 |
Dividends paid | -389,000 | -312,000 |
Distribution to noncontrolling shareholder | -32,000 | -12,000 |
Net cash provided by (used in) financing activities | 1,345,000 | -15,104,000 |
Net increase (decrease) in cash and cash equivalents | 8,215,000 | -4,054,000 |
Cash and cash equivalents, beginning of period | 5,874,000 | 14,571,000 |
Cash and cash equivalents, end of period | 14,089,000 | 10,517,000 |
Cash paid for: | ' | ' |
Interest on deposits and borrowings (including interest credited to deposit accounts of $1,132 and $1,688 respectively) | 2,149,000 | 3,010,000 |
Income tax expense | 380,000 | 846,000 |
Real estate acquired in settlement of loans | $507,000 | $32,000 |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Interest credited to deposit accounts | $1,132 | $1,688 |
Note_1_Basis_of_PresentationNa
Note 1. Basis of Presentation/Nature of Operations | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
Note 1. Basis of Presentation/Nature of Operations | |
The accompanying unaudited Consolidated Financial Statements include the accounts of FedFirst Financial Corporation (“FedFirst Financial” or the “Company”), a stock holding company established in 2010, whose wholly owned subsidiary is First Federal Savings Bank (“First Federal” or the “Bank”), a federally chartered stock savings bank, which owns FedFirst Exchange Corporation (“FFEC”). FFEC has an 80% controlling interest in Exchange Underwriters, Inc. (“Exchange Underwriters”). Exchange Underwriters is a full-service, independent insurance agency that offers property and casualty, commercial liability, surety and other insurance products. All significant intercompany transactions have been eliminated. | |
First Federal operates as a community-oriented financial institution offering residential, multi-family and commercial mortgages, consumer loans and commercial business loans as well as a variety of deposit products for individuals and businesses from seven locations in southwestern Pennsylvania. First Federal conducts insurance brokerage activities through Exchange Underwriters. The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. | |
The unaudited consolidated financial statements were prepared in accordance with instructions to Form 10-Q and, therefore, do not include information or notes necessary for a complete presentation of financial position, results of operations, changes in stockholders’ equity and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). However, all normal recurring adjustments that, in the opinion of management, are necessary to make the consolidated financial statements not misleading have been included. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the full year or any other interim period. | |
The Company evaluated subsequent events through the date the consolidated financial statements were filed with the Securities and Exchange Commission and incorporated into the consolidated financial statements the effect of all material known events determined by Accounting Standards Codification (“ASC”) Topic 855, Subsequent Events, to be recognizable events. | |
In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and income and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to determination of the allowance for losses on loans, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, evaluation of securities for other-than-temporary impairment including related cash flow projections, goodwill impairment, and the valuation of deferred tax assets. | |
Note_2_Recent_Accounting_Prono
Note 2. Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
Note 2. Recent Accounting Pronouncements | |
ASU 2012-04 Technical Corrections and Improvements. In October 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2012-04, Technical Corrections and Improvements, which makes certain minor technical corrections to the FASB Accounting Standards Codification (“ASC”) and includes conforming amendments that are nonsubstantive in nature and identify when the use of fair value should be linked to the definition of fair value in ASC Topic 820, Fair Value Measurement. The amendments affect various ASC topics and include source literature amendments, guidance clarification and reference corrections, and relocated guidance. The amendments that will not have transition guidance were effective upon issuance and the amendments that are subject to the transition guidance will be effective for fiscal periods beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the Company’s financial condition and results of operation. | |
ASU 2013-02 Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires entities to disclose additional information about reclassification adjustments including changes in accumulated other comprehensive income (“AOCI”) balances by component and significant items reclassified out of AOCI. The ASU is intended to help entities improve the transparency of changes in other comprehensive income (“OCI”) and items reclassified out of AOCI in their financial statements. It does not amend any existing requirements for reporting net income or OCI in the financial statements. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of this ASU did not have a material impact on the Company’s financial condition and results of operation. | |
ASU 2013-11 Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. The ASU is intended to eliminate diversity in practice resulting from a lack of guidance on this topic in current GAAP. Under the ASU, an entity generally must present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for an NOL carryforward, a similar tax loss, or a tax credit carryforward. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this ASU is not expected to have a material impact on the Company’s financial condition and results of operation. | |
Note_3_Securities
Note 3. Securities | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||
Note 3. Securities | |||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the amortized cost and fair value of securities available-for-sale at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 8,005 | $ | 235 | $ | 197 | $ | 8,043 | |||||||||||||||||||||||||||||||||||
Mortgage-backed - GSEs | 8,393 | 483 | - | 8,876 | |||||||||||||||||||||||||||||||||||||||
REMICs | 8,413 | 136 | 7 | 8,542 | |||||||||||||||||||||||||||||||||||||||
Corporate debt | 3,996 | - | 488 | 3,508 | |||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 28,807 | $ | 854 | $ | 692 | $ | 28,969 | |||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 8,756 | $ | 435 | $ | 10 | $ | 9,181 | |||||||||||||||||||||||||||||||||||
Mortgage-backed - GSEs | 12,120 | 695 | - | 12,815 | |||||||||||||||||||||||||||||||||||||||
REMICs | 18,345 | 355 | - | 18,700 | |||||||||||||||||||||||||||||||||||||||
Corporate debt | 3,995 | - | 2,113 | 1,882 | |||||||||||||||||||||||||||||||||||||||
Equities | 4 | - | - | 4 | |||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 43,220 | $ | 1,485 | $ | 2,123 | $ | 42,582 | |||||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities at September 30, 2013 by contractual maturity were as follows. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. | |||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||||||||
Due from one to five years | $ | 2,113 | $ | 2,349 | |||||||||||||||||||||||||||||||||||||||
Due from five to ten years | 6,710 | 6,790 | |||||||||||||||||||||||||||||||||||||||||
Due after ten years | 19,984 | 19,830 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 28,807 | $ | 28,969 | |||||||||||||||||||||||||||||||||||||||
The following table presents gross unrealized losses and fair value of securities aggregated by category and length of time that individual securities have been in a continuous loss position at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Number of | Fair | Gross | Number of | Fair | Gross | Number of | Fair | Gross | ||||||||||||||||||||||||||||||||||
Securities | Value | Unrealized | Securities | Value | Unrealized | Securities | Value | Unrealized | |||||||||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||||||||||||
Municipal bonds | 3 | $ | 5,247 | $ | 197 | - | $ | - | $ | - | 3 | $ | 5,247 | $ | 197 | ||||||||||||||||||||||||||||
REMICs | 3 | 2,688 | 7 | - | - | - | 3 | 2,688 | 7 | ||||||||||||||||||||||||||||||||||
Corporate debt | - | - | - | 3 | 3,508 | 488 | 3 | 3,508 | 488 | ||||||||||||||||||||||||||||||||||
Total securities temporarily impaired | 6 | $ | 7,935 | $ | 204 | 3 | $ | 3,508 | $ | 488 | 9 | $ | 11,443 | $ | 692 | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Number of | Fair | Gross | Number of | Fair | Gross | Number of | Fair | Gross | ||||||||||||||||||||||||||||||||||
Securities | Value | Unrealized | Securities | Value | Unrealized | Securities | Value | Unrealized | |||||||||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||||||||||||
Municipal bonds | 1 | $ | 1,151 | $ | 10 | - | $ | - | $ | - | 1 | $ | 1,151 | $ | 10 | ||||||||||||||||||||||||||||
Corporate debt | - | - | - | 3 | 1,882 | 2,113 | 3 | 1,882 | 2,113 | ||||||||||||||||||||||||||||||||||
Total securities temporarily impaired | 1 | $ | 1,151 | $ | 10 | 3 | $ | 1,882 | $ | 2,113 | 4 | $ | 3,033 | $ | 2,123 | ||||||||||||||||||||||||||||
The Company reviews its investment portfolio on a quarterly basis for indications of other-than-temporary impairment (“OTTI”). This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer including any specific events that may influence the operations of the issuer, and the intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market. | |||||||||||||||||||||||||||||||||||||||||||
Municipal Bonds – At September 30, 2013, the Company had three municipal bonds with an unrealized loss of $197,000 in an unrealized loss position of less than 12 months. An evaluation was performed on each bond. For two of the bonds, there were no events to indicate deterioration in credit with unchanged, investment grade credit ratings. The Company believes the unrealized loss on these two bonds is due to market conditions, specifically rising interest rates impacting the value of the bonds. The third bond’s credit rating was initially downgraded in 2012 primarily due to budgetary challenges and more recently in July 2013 primarily due to accreditation concerns; however the credit rating remains investment grade and the strong income indicators of the economic base and sound financial policies and practices of the municipality, and the municipality’s ability to levy a property tax that is sufficient to be used for bond payment are expected to allow it to repay debt and meet its contractual obligations. Therefore, the Company believes the unrealized loss of this bond is due to changes in market conditions. The Company does not intend to sell the bonds and it is more likely than not that the Company will not be required to sell the bonds before recovery. The Company expects to recover the entire amortized cost basis and concluded that there was no OTTI on these bonds at September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Corporate Debt – At September 30, 2013, the Company had three securities that were in an unrealized loss position for 12 months or more at an amount of $488,000. These securities consist of two pools of trust preferred corporate debt obligations (“CDOs”) collateralized by the trust preferred securities of insurance companies in the United States. These securities were downgraded from their original rating issuance to below investment grade after purchase. The lack of liquidity in the market for this type of security, credit rating downgrades and market uncertainties are factors contributing to the unrealized losses on these securities. | |||||||||||||||||||||||||||||||||||||||||||
The following table provides additional information related to the Company’s CDOs at September 30, 2013 (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||
Pool | Class | Tranche | Amortized | Fair | Unrealized | S&P | Current | Total | Current | Performing | Additional | Additional | |||||||||||||||||||||||||||||||
Cost | Value | Loss | Rating | Number of | Collateral | Deferrals and | Collateral | Immediate | Immediate | ||||||||||||||||||||||||||||||||||
Insurance | Defaults | Deferrals / | Deferrals / | ||||||||||||||||||||||||||||||||||||||||
Companies | Defaults Before | Defaults | |||||||||||||||||||||||||||||||||||||||||
Causing an | Before | ||||||||||||||||||||||||||||||||||||||||||
Interest | Causing a | ||||||||||||||||||||||||||||||||||||||||||
Shortfall (a) | Break in | ||||||||||||||||||||||||||||||||||||||||||
Yield (b) | |||||||||||||||||||||||||||||||||||||||||||
I-PreTSL I | Mezzanine | B-3 | $ | 1,500 | $ | 1,246 | $ | (254 | ) | CCC- | 16 | $ | 188,500 | $ | 32,500 | $ | 156,000 | $ | 101,603 | $ | 44,500 | ||||||||||||||||||||||
I-PreTSL II | Mezzanine | B-3 | 2,496 | 2,262 | (234 | ) | BB+ | 23 | 305,500 | 24,500 | 281,000 | 173,825 | 110,500 | ||||||||||||||||||||||||||||||
$ | 3,996 | $ | 3,508 | $ | (488 | ) | |||||||||||||||||||||||||||||||||||||
(a) | A temporary interest shortfall is caused by an amount of deferrals/defaults high enough such that there is insufficient cash flow available to pay current interest on the given tranche or by breaching the principal coverage test of the tranche immediately senior to the given tranche. Amounts presented represent additional deferrals/defaults beyond those currently existing that must occur before the security would experience an interest shortfall. | ||||||||||||||||||||||||||||||||||||||||||
(b) | A break in yield for a given tranche means that deferrals/defaults have reached such a level that the tranche would not receive all of its contractual cash flows (principal and interest) by maturity (so not just a temporary interest shortfall, but an actual loss in yield on the investment). In other words, the magnitude of the defaults/deferrals has depleted the entire credit enhancement (excess interest and over-collateralization) beneath the given tranche. Amounts presented represent additional deferrals/defaults beyond those currently existing that must occur before the security would experience a break in yield. | ||||||||||||||||||||||||||||||||||||||||||
These securities are evaluated for OTTI by determining whether it is probable that an adverse change in estimated cash flows has occurred. Determining whether there has been an adverse change in estimated cash flows involves the calculation of the present value of remaining cash flows compared to previously projected cash flows. We consider the discounted cash flow analysis to be our primary evidence when determining whether credit-related OTTI exists. Additionally, reports are reviewed that provide information for the amount of deferral/defaults that would have to occur to prevent the tranche from collecting contractual cash flows (principal and interest). None of these securities are projecting a cash flow disruption, nor have any of these securities experienced a cash flow disruption. The Company also reviewed each of the issues’ collateral participants, including their financial condition, ratings provided by A. M. Best (for insurance companies), and adverse conditions specifically related to industry or geographic area. This information did not suggest additional deferrals or defaults in the future that would result in the securities not receiving all of their contractual cash flows. Based on the analysis performed and the fact that the Company does not expect to sell these securities, and because it is not more likely than not that the Company will be required to sell the securities before recovery of their amortized cost basis, the Company concluded that there was no OTTI on these securities at September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Other Securities – This category may include mortgage-backed securities and REMICS. At September 30, 2013, the Company had three REMIC securities that were issued and backed by a Government-Sponsored Enterprise (“FNMA” and “FHLMC”) with an unrealized loss of $7,000. The securities were in an unrealized loss position for less than 12 months. The Company believes the unrealized loss of the securities is due to changes in market interest rates or changes in market conditions as there was no indication that the issuers were having financial difficulties. The Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before their recovery. The Company expects to recover the entire amortized cost basis of the securities and concluded that there was no OTTI at September 30, 2013. | |||||||||||||||||||||||||||||||||||||||||||
Note_4_Loans
Note 4. Loans | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Note 4. Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table sets forth the composition of our loan portfolio at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate-mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | $ | 103,170 | 37.7 | % | $ | 110,754 | 43.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Purchased | 7,575 | 2.7 | 10,188 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | 110,745 | 40.4 | 120,942 | 47.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 7,016 | 2.6 | 11,101 | 4.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchased | 3,799 | 1.4 | 4,226 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total multi-family | 10,815 | 4 | 15,327 | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 53,368 | 19.5 | 45,504 | 17.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate-mortgage | 174,928 | 63.9 | 181,773 | 71.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Real estate-construction: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 3,581 | 1.3 | 1,931 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 16,341 | 6 | 5,231 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate-construction | 19,922 | 7.3 | 7,162 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 47,150 | 17.2 | 41,537 | 16.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 9,200 | 3.4 | 7,841 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 56,350 | 20.6 | 49,378 | 19.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 1,739 | 0.6 | 1,923 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 58,089 | 21.2 | 51,301 | 20.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 20,756 | 7.6 | 15,055 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 273,695 | 100 | % | $ | 255,291 | 100 | % | |||||||||||||||||||||||||||||||||||||||||||||
Net premiums on loans purchased | 87 | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net deferred loan costs | 365 | 450 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans in process | (9,217 | ) | (3,431 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (3,193 | ) | (2,886 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 261,737 | $ | 249,530 | |||||||||||||||||||||||||||||||||||||||||||||||||
Delinquencies. The following table provides information about delinquencies in our loan portfolio at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | 30-59 | 60-89 | 90 Days | ||||||||||||||||||||||||||||||||||||||||||||||||
Days | Days | or Greater | Days | Days | or Greater | ||||||||||||||||||||||||||||||||||||||||||||||||
Past | Past | Past | Past | Past | Past | ||||||||||||||||||||||||||||||||||||||||||||||||
Due | Due | Due | Due | Due | Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | $ | - | $ | 576 | $ | 570 | $ | 1,052 | $ | 138 | $ | 281 | |||||||||||||||||||||||||||||||||||||||||
Purchased | - | 266 | 238 | - | - | 595 | |||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | - | 842 | 808 | 1,052 | 138 | 876 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 32 | - | 502 | 456 | - | 74 | |||||||||||||||||||||||||||||||||||||||||||||||
Total real estate - mortgage | 32 | 842 | 1,310 | 1,508 | 138 | 950 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 47 | - | 16 | 510 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 43 | 160 | 82 | 406 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 90 | 160 | 98 | 916 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other | 7 | - | 13 | 5 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 97 | 160 | 111 | 921 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | - | - | - | 8 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total delinquencies | $ | 129 | $ | 1,002 | $ | 1,421 | $ | 2,437 | $ | 174 | $ | 950 | |||||||||||||||||||||||||||||||||||||||||
Nonperforming Assets. The following table provides information with respect to our nonperforming assets at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Amount | Number of | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contracts | Contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 6 | $ | 1,799 | 2 | $ | 1,269 | |||||||||||||||||||||||||||||||||||||||||||||||
Purchased | 4 | 403 | 5 | 763 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | 10 | 2,202 | 7 | 2,032 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 2 | 502 | 2 | 172 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate - mortgage | 12 | 2,704 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 1 | 16 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 1 | 82 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 2 | 98 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 1 | 13 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 3 | 111 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 15 | 2,815 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accruing loans past due 90 days or more | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans and accruing loans past due 90 days or more | 15 | 2,815 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Real estate owned | 3 | 505 | 2 | 146 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets | 18 | $ | 3,320 | 11 | $ | 2,350 | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In nonaccrual status | 2 | 1,139 | 3 | 1,254 | |||||||||||||||||||||||||||||||||||||||||||||||||
Performing under modified terms | 7 | 1,714 | 7 | 1,501 | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | 9 | $ | 2,853 | 10 | $ | 2,755 | |||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming loans to total loans | 1.03 | % | 0.86 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets to total assets | 1.03 | 0.74 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets and troubled debt restructurings performing under modified terms to total assets | 1.56 | 1.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings. A loan whose contractual terms have been restructured in a manner which grants a concession to a borrower experiencing financial difficulties is considered a troubled debt restructuring (“TDR”). TDRs typically are the result of our loss mitigation activities whereby concessions are granted to minimize loss and avoid foreclosure or repossession of collateral. The concessions granted for the TDRs in our portfolio primarily consist of, but are not limited to, capitalization of principal and interest due, reverting from payment of principal and interest to interest-only, or extending a maturity date through a signed forbearance agreement. Certain TDRs were placed in nonaccrual status at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period which is generally six months. Loans that were current at the time of classification remained on an accrual basis and are monitored to ensure restructured contractual terms are met. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TDRs are typically evaluated for any possible impairment similar to other impaired loans based on the current fair value of the collateral, less selling costs, for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan, impairment is recognized through a specific allowance for loan losses. In periods subsequent to modification, we continue to evaluate all TDRs for any additional impairment and will adjust any specific allowances accordingly. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table provides information related to loans modified as TDRs during the periods indicated (dollars in thousands). The pre-modification outstanding recorded investment represents the balance outstanding when the loan was determined to be a TDR. The post-modification outstanding recorded investment represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In Nonaccrual | Performing Under | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Status | Modified Terms | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three and Nine Months | Number | Pre- | Post- | Specific | Number | Pre- | Post- | Specific | |||||||||||||||||||||||||||||||||||||||||||||
Ended September 30, 2013 | of | Modification | Modification | Allowance | of | Modification | Modification | Allowance | |||||||||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | - | - | - | - | 1 | 373 | 276 | - | |||||||||||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | - | $ | - | $ | - | $ | - | 1 | $ | 373 | $ | 276 | $ | - | |||||||||||||||||||||||||||||||||||||||
In Nonaccrual | Performing Under | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Status | Modified Terms | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three and Nine Months | Number | Pre- | Post- | Specific | Number | Pre- | Post- | Specific | |||||||||||||||||||||||||||||||||||||||||||||
Ended September 30, 2012 | of | Modification | Modification | Allowance | of | Modification | Modification | Allowance | |||||||||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 1 | $ | 993 | $ | 993 | $ | - | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||
Purchased | 1 | 168 | 168 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | 2 | $ | 1,161 | $ | 1,161 | $ | - | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||
During the three months ended September 30, 2013, one other consumer loan TDR with a balance of $7,000 was paid off. During the nine months ended September 30, 2013, one commercial real estate loan TDR with a balance of $76,000 and one other consumer loan TDR with a balance of $7,000 were paid off. During the nine months ended September 30, 2012, one commercial real estate loan TDR with a balance of $66,000 was paid off. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans. The following tables summarize information in regards to impaired loans by loan portfolio class at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family originated residential | $ | 1,510 | $ | 1,510 | $ | - | $ | 1,518 | $ | 52 | |||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,718 | 2,718 | - | 2,753 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | 408 | 408 | - | 410 | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 4,636 | $ | 4,636 | $ | - | $ | 4,681 | $ | 174 | |||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family originated residential | $ | 1,528 | $ | 1,528 | $ | - | $ | 1,625 | $ | 16 | |||||||||||||||||||||||||||||||||||||||||||
One- to four-family purchased residential | 309 | 509 | - | 411 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,571 | 2,683 | - | 2,799 | 168 | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | 136 | 136 | - | 138 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer | 8 | 8 | - | 10 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 4,552 | $ | 4,864 | $ | - | $ | 4,983 | $ | 195 | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses. The allowance for loan losses is a valuation allowance for probable losses inherent in the loan portfolio. We evaluate the need to establish allowances against losses on loans on a quarterly basis. When additional allowances are necessary, a provision for loan losses is charged to earnings. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Our methodology for assessing the appropriateness of the allowance for loan losses consists of: (1) a valuation allowance on impaired loans; and (2) a valuation allowance on the remainder of the loan portfolio. Although we determine the amount of each element of the allowance separately, the entire allowance for loan losses is available for the entire portfolio. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance on Impaired Loans. We establish an allowance for loans that are individually evaluated and determined to be impaired. The amount of impairment is determined by the difference between the present value of the expected cash flows related to the loan, using current interest rates and its recorded value, or, as a practical measure in the case of collateralized loans, the difference between the fair value of the collateral and the recorded amount of the loans less estimated selling costs. At September 30, 2013, there were seven loan relationships that were individually evaluated for impairment, of which three were considered TDRs. TDR and impaired loan activity and any related specific allowances were previously discussed in the “Troubled Debt Restructurings” and “Impaired Loans” sections. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance on the Remainder of the Loan Portfolio. We establish an allowance for loans that are not determined to be impaired. Management determines historical loss experience for each group of loans with similar risk characteristics within the portfolio based on loss experience for loans in each group. Loan categories will represent groups of loans with similar risk characteristics and may include types of loans categorized by product, large credit exposures, concentrations, loan grade, or any other characteristic that causes a loan’s risk profile to be similar to another. We utilize previous years’ net charge-off experience by loan category as a basis in determining loss projections. In addition, there are two categories of loans considered to be higher risk concentrations that are evaluated separately when calculating the allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
· | Loans purchased in the secondary market. Prior to 2006, pools of multi-family and one- to four- family residential mortgage loans located in areas outside of our primary geographic lending area in southwestern Pennsylvania were acquired in the secondary market. Although these loans were underwritten to our lending standards, they are considered higher risk given our unfamiliarity with the geographic areas where the properties are located and ability to timely identify problem loans through servicer correspondence. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
· | Home equity loans with a loan-to-value ratio greater than 80%. These loans are considered higher risk given the pressure on property values and reduced credit alternatives available to leveraged borrowers. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
We also consider qualitative or environmental factors that are likely to cause estimated credit losses associated with the bank’s existing portfolio to differ from historical loss experience. Our historical loss experience and qualitative and environmental factors are reviewed on a quarterly basis to ensure they are reflective of current conditions in our loan portfolio and economy. At September 30, 2013, we utilized six years of loss history and, generally, periods where we did not experience any losses were excluded from determining the historical average loss for each loan class. Certain historical loss factors are annually adjusted when another complete year of loss history is available in order to incorporate recent loss experience in the allowance calculation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the activity in the allowance for loan losses for the three and nine months ended September 30, 2013 (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||
Loan Balance | $ | 103,170 | $ | 7,575 | $ | 7,016 | $ | 3,799 | $ | 53,368 | $ | 3,581 | $ | 16,341 | $ | 47,150 | $ | 9,200 | $ | 1,739 | $ | 20,756 | $ | 273,695 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Jun-13 | $ | 457 | $ | 300 | $ | 32 | $ | 93 | $ | 853 | $ | 3 | $ | 23 | $ | 475 | $ | 284 | $ | 18 | $ | 285 | $ | 167 | $ | 2,990 | |||||||||||||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Recoveries | 3 | - | - | - | - | - | - | - | - | - | - | - | 3 | ||||||||||||||||||||||||||||||||||||||||
Provision | 2 | (6 | ) | (11 | ) | (1 | ) | 76 | 2 | 2 | 12 | 16 | 1 | 156 | (49 | ) | 200 | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
31-Dec-12 | $ | 466 | $ | 372 | $ | 33 | $ | 102 | $ | 802 | $ | 3 | $ | 8 | $ | 434 | $ | 246 | $ | 19 | $ | 245 | $ | 156 | $ | 2,886 | |||||||||||||||||||||||||||
Charge-offs | (12 | ) | (33 | ) | - | - | - | - | - | - | (35 | ) | - | - | - | (80 | ) | ||||||||||||||||||||||||||||||||||||
Recoveries | 9 | - | - | - | 9 | - | - | - | 1 | 3 | - | - | 22 | ||||||||||||||||||||||||||||||||||||||||
Provision | (1 | ) | (45 | ) | (12 | ) | (10 | ) | 118 | 2 | 17 | 53 | 88 | (3 | ) | 196 | (38 | ) | 365 | ||||||||||||||||||||||||||||||||||
30-Sep-13 | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
Collectively evaluated on historical loss experience | $ | 128 | $ | 127 | $ | - | $ | 58 | $ | 106 | $ | - | $ | - | $ | 67 | $ | 115 | $ | 13 | $ | 12 | $ | - | $ | 626 | |||||||||||||||||||||||||||
Collectively evaluated on qualitative factors | 334 | 167 | 21 | 34 | 823 | 5 | 25 | 420 | 185 | 6 | 429 | - | 2,449 | ||||||||||||||||||||||||||||||||||||||||
Unallocated | - | - | - | - | - | - | - | - | - | - | - | 118 | 118 | ||||||||||||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
Percent of Allowance | 14.5 | % | 9.2 | % | 0.6 | % | 2.9 | % | 29.1 | % | 0.2 | % | 0.7 | % | 15.3 | % | 9.4 | % | 0.6 | % | 13.8 | % | 3.7 | % | 100 | % | |||||||||||||||||||||||||||
Percent of Loans (1) | 37.7 | % | 2.7 | % | 2.6 | % | 1.4 | % | 19.5 | % | 1.3 | % | 6 | % | 17.2 | % | 3.4 | % | 0.6 | % | 7.6 | % | 100 | % | |||||||||||||||||||||||||||||
(1) | Represents percentage of loans in each category to total loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the activity in the allowance for loan losses for the three and nine months ended September 30, 2012 (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||
Loan Balance | $ | 111,780 | $ | 11,343 | $ | 11,207 | $ | 4,257 | $ | 42,328 | $ | 3,476 | $ | 5,795 | $ | 36,903 | $ | 8,053 | $ | 1,432 | $ | 12,195 | $ | 248,769 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Jun-12 | $ | 497 | $ | 526 | $ | 36 | $ | 122 | $ | 788 | $ | 5 | $ | 9 | $ | 414 | $ | 263 | $ | 17 | $ | 172 | $ | 139 | $ | 2,988 | |||||||||||||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | - | - | (1 | ) | - | - | (1 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | 1 | - | - | - | 1 | - | - | - | 4 | ||||||||||||||||||||||||||||||||||||||||
Provision | (4 | ) | 64 | (2 | ) | (19 | ) | 55 | - | - | (1 | ) | (1 | ) | 1 | 22 | (15 | ) | 100 | ||||||||||||||||||||||||||||||||||
30-Sep-12 | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
31-Dec-11 | $ | 534 | $ | 465 | $ | 39 | $ | 124 | $ | 858 | $ | 6 | $ | 12 | $ | 379 | $ | 267 | $ | 24 | $ | 242 | $ | 148 | $ | 3,098 | |||||||||||||||||||||||||||
Charge-offs | (115 | ) | (109 | ) | - | - | (33 | ) | - | - | - | (49 | ) | (1 | ) | (15 | ) | - | (322 | ) | |||||||||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | 1 | - | - | - | 2 | - | - | - | 5 | ||||||||||||||||||||||||||||||||||||||||
Provision | 74 | 234 | (5 | ) | (21 | ) | 18 | (1 | ) | (3 | ) | 34 | 43 | (6 | ) | (33 | ) | (24 | ) | 310 | |||||||||||||||||||||||||||||||||
30-Sep-12 | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 200 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 200 | |||||||||||||||||||||||||||
Collectively evaluated on historical loss experience | 146 | 170 | - | 65 | 109 | - | - | 82 | 110 | 12 | 2 | - | 696 | ||||||||||||||||||||||||||||||||||||||||
Collectively evaluated on qualitative factors | 349 | 220 | 34 | 38 | 735 | 5 | 9 | 331 | 153 | 5 | 192 | - | 2,071 | ||||||||||||||||||||||||||||||||||||||||
Unallocated | - | - | - | - | - | - | - | - | - | - | - | 124 | 124 | ||||||||||||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
Percent of Allowance | 16 | % | 19.1 | % | 1.1 | % | 3.3 | % | 27.3 | % | 0.2 | % | 0.3 | % | 13.4 | % | 8.5 | % | 0.5 | % | 6.3 | % | 4 | % | 100 | % | |||||||||||||||||||||||||||
Percent of Loans (1) | 44.9 | % | 4.6 | % | 4.5 | % | 1.7 | % | 17 | % | 1.4 | % | 2.3 | % | 14.9 | % | 3.2 | % | 0.6 | % | 4.9 | % | 100 | % | |||||||||||||||||||||||||||||
(1) | Represents percentage of loans in each category to total loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Quality Information. Federal regulations require us to review and classify our assets on a regular basis. In addition, the Office of the Comptroller of the Currency (“OCC”) has the authority to identify problem assets and, if appropriate, require them to be classified. There are four classifications for problem assets: special mention, substandard, doubtful and loss. The following table presents the classes of the loan portfolio and shows our credit risk profile by internally assigned risk rating at the dates indicated (dollars in thousands). | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | Total | |||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | (originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | loans | |||||||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 101,371 | $ | 7,172 | $ | 7,016 | $ | 3,799 | $ | 50,104 | $ | 3,581 | $ | 16,341 | $ | 46,726 | $ | 9,118 | $ | 1,726 | $ | 18,602 | $ | 265,556 | |||||||||||||||||||||||||||||
Special Mention | - | - | - | - | 334 | - | - | - | - | - | 2,154 | 2,488 | |||||||||||||||||||||||||||||||||||||||||
Substandard | 1,799 | 403 | - | - | 2,930 | - | - | 424 | 82 | 13 | - | 5,651 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 103,170 | $ | 7,575 | $ | 7,016 | $ | 3,799 | $ | 53,368 | $ | 3,581 | $ | 16,341 | $ | 47,150 | $ | 9,200 | $ | 1,739 | $ | 20,756 | $ | 273,695 | |||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | Total | |||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | (originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | loans | |||||||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 109,226 | $ | 9,425 | $ | 11,101 | $ | 4,226 | $ | 42,243 | $ | 1,931 | $ | 5,231 | $ | 41,401 | $ | 7,841 | $ | 1,915 | $ | 14,990 | $ | 249,530 | |||||||||||||||||||||||||||||
Special Mention | - | - | - | - | 443 | - | - | - | - | - | 65 | 508 | |||||||||||||||||||||||||||||||||||||||||
Substandard | 1,528 | 763 | - | - | 2,818 | - | - | 136 | - | 8 | - | 5,253 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 110,754 | $ | 10,188 | $ | 11,101 | $ | 4,226 | $ | 45,504 | $ | 1,931 | $ | 5,231 | $ | 41,537 | $ | 7,841 | $ | 1,923 | $ | 15,055 | $ | 255,291 | |||||||||||||||||||||||||||||
Note_5_Deposits
Note 5. Deposits | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||||||||||
Note 5. Deposits | |||||||||||||||||
Deposits are summarized as follows (dollars in thousands). | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||
Noninterest-bearing demand deposits | $ | 29,495 | 13.1 | % | $ | 23,987 | 11.2 | % | |||||||||
Interest-bearing demand deposits | 32,176 | 14.3 | 17,878 | 8.4 | |||||||||||||
Savings accounts | 24,816 | 11 | 24,271 | 11.3 | |||||||||||||
Money market accounts | 49,477 | 22 | 55,047 | 25.7 | |||||||||||||
Certificates of deposit | 88,904 | 39.6 | 92,874 | 43.4 | |||||||||||||
Total deposits | $ | 224,868 | 100 | % | $ | 214,057 | 100 | % | |||||||||
Note_6_Borrowings
Note 6. Borrowings | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||
Note 6. Borrowings | |||||||||||||||||
We utilize borrowings as a supplemental source of funds for loans and securities. The primary sources of borrowings are FHLB advances and, to a limited extent, repurchase agreements. At September 30, 2013 and December 31, 2012, we had $42.8 million and $49.1 million of borrowings, respectively, of which $39.8 million and $46.1 million, respectively, were FHLB advances and $3.0 million were repurchase agreements. At September 30, 2013 and December 31, 2012, our FHLB advances were comprised of fixed rate advances. | |||||||||||||||||
The following table sets forth borrowings based on their stated maturities and weighted average rates at the dates indicated. | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
(Dollars in thousands) | Balance | Weighted | Balance | Weighted | |||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Due in one year or less | $ | 25,812 | 2.51 | % | $ | 19,120 | 1.52 | % | |||||||||
Due in one to two years | 17,000 | 3.56 | 18,000 | 3.41 | |||||||||||||
Due in two to three years | - | - | 12,000 | 3.82 | |||||||||||||
Advances | $ | 42,812 | $ | 49,120 | |||||||||||||
Less: deferred premium on modification | (312 | ) | (442 | ) | |||||||||||||
Total advances | $ | 42,500 | 2.93 | % | $ | 48,678 | 2.77 | % | |||||||||
The following table sets forth information concerning our borrowings for the periods indicated. | |||||||||||||||||
(Dollars in thousands) | Nine Months | Year | |||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Maximum amount outstanding at any month end during the period | $ | 44,020 | $ | 48,873 | |||||||||||||
Average amount outstanding during the period | 37,822 | 44,348 | |||||||||||||||
Weighted average rate during the period | 3.41 | % | 3.66 | % | |||||||||||||
Note_7_Earnings_Per_Share
Note 7. Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings per share: [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
Note 7. Earnings Per Share | |||||||||||||||||
Basic earnings per common share is calculated by dividing FedFirst Financial’s net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is computed in a manner similar to basic earnings per common share except that the weighted-average number of common shares outstanding is increased to include the incremental common shares (as computed using the treasury stock method) that would have been outstanding if all potentially dilutive common stock equivalents were issued during the period. Common stock equivalents include restricted stock awards and stock options. Anti-dilutive shares are common stock equivalents with weighted-average exercise prices in excess of the weighted-average market value for the periods presented. Unallocated common shares held by the Employee Stock Ownership Plan (“ESOP”) are not included in the weighted-average number of common shares outstanding for purposes of calculating both basic and diluted earnings per common share until they are committed to be released. | |||||||||||||||||
The following table sets forth basic and diluted earnings per common share at the dates indicated. | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(Dollars in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Net income of FedFirst Financial Corporation | $ | 463 | $ | 649 | $ | 1,833 | $ | 1,699 | |||||||||
Weighted-average shares outstanding: | |||||||||||||||||
Basic | 2,373,378 | 2,867,983 | 2,428,692 | 2,836,388 | |||||||||||||
Effect of dilutive stock options and restrictive stock awards | 34,020 | 3,330 | 31,407 | 3,189 | |||||||||||||
Diluted | 2,407,398 | 2,871,313 | 2,460,099 | 2,839,577 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.2 | $ | 0.23 | $ | 0.75 | $ | 0.6 | |||||||||
Diluted | 0.19 | 0.23 | 0.75 | 0.6 | |||||||||||||
The dilutive effect on average shares outstanding is the result of stock options outstanding and restricted stock. At September 30, 2013 and September 30, 2012, options to purchase 139,036 and 218,017 shares of common stock, respectively, at a weighted average exercise price of $19.95 and $16.39 per share, respectively, were outstanding but not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares. | |||||||||||||||||
Note_8_Fair_Value_Measurements
Note 8. Fair Value Measurements and Fair Values of Financial Instruments | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
Note 8. Fair Value Measurements and Fair Values of Financial Instruments | |||||||||||||||||||||
Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could realize in a sale transaction on the dates indicated. The estimated fair value amounts were measured as of September 30, 2013 and December 31, 2012 and were not re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to September 30, 2013 and December 31, 2012 may be different than the amounts reported at each period end. | |||||||||||||||||||||
The fair value hierarchy prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). | |||||||||||||||||||||
The three levels of the fair value hierarchy are as follows: | |||||||||||||||||||||
Level 1 – | Quoted prices for identical instruments in active markets. | ||||||||||||||||||||
Level 2 – | Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are active, and model derived valuations in which significant inputs or significant drivers are observable in active markets. | ||||||||||||||||||||
Level 3 – | Valuations derived from valuation techniques in which one or more significant inputs or significant drivers are unobservable. | ||||||||||||||||||||
The following is a discussion of assets and liabilities measured at fair value on a recurring basis and the valuation techniques used: | |||||||||||||||||||||
Securities available for sale. The majority of the Company’s securities are included in Level 2 of the fair value hierarchy. Fair values were primarily determined by a third party pricing service using both quoted prices for similar assets, when available, and model-based valuation techniques that derive fair value based on market-corroborated data, such as instruments with similar prepayment speeds and default interest rates. The standard inputs that are normally used include benchmark yields of like securities, reportable trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. In some cases, the fair value was determined from a broker who is able to quote a price based on observable inputs in a liquid market for similar securities. | |||||||||||||||||||||
In some instances, the fair value of certain securities cannot be determined using these techniques due to the lack of relevant market data. As such, these securities are valued using an alternative technique and classified within Level 3 of the fair value hierarchy. At September 30, 2013, Level 3 includes three corporate debt securities with a fair value of $3.5 million. | |||||||||||||||||||||
The corporate debt securities are pooled trust preferred CDOs collateralized by the trust preferred securities of insurance companies in the United States. The CDOs, which were rated A at purchase and are currently rated below investment grade, could not be priced using quoted market prices, observable market activity or comparable trades, and the financial market was considered not active. The trust preferred market has been severely impacted by the lack of liquidity in the credit markets and concern over the financial services industry. There has been little or no active trading in these securities; therefore it was more appropriate to determine fair value using a discounted cash flow analysis. | |||||||||||||||||||||
The Company utilized a third party pricing service that performed a two-step process to determine the fair value of the CDOs. First, an asset analysis was performed to evaluate the credit quality of the collateral and the deal structure using probability of default values for each underlying issuer and loss given default values by asset type. Probability of default is the likelihood that the issuer of the CDOs will go into default and stop paying and was estimated using an expected default frequency approach, which considers the market value and volatility of a firm’s assets and the threshold for default. Probability of default was combined with correlation assumptions, which is the tendency of companies to default once other companies have defaulted. CDOs are more likely to experience stress at the same time since they are concentrated in the same sector, therefore a 50% asset correlation was assumed for issuers in the same industry. Loss given default is the amount of cash lost to the investor at the time of default and is related to the recovery rate. Loss and recovery estimates determine how much cash remains when an issuer goes into default. Deferrals are a common feature of CDOs and were treated as defaults in the analysis. Loss given default has been historically high for CDOs and therefore a 0% recovery rate was assumed on currently defaulted and deferring assets, which resulted in a 100% loss given default. | |||||||||||||||||||||
Second, a liability analysis was performed in which the expected cash flows produced based off the expected credit events of the asset analysis were allocated across the tranches to determine the tranches that would get paid or incur a loss. These expected cash flows were discounted at a risk free interest rate plus a premium for illiquidity (3 month LIBOR plus 300 basis points) to produce a discounted cash flow valuation and determine an estimated fair value. | |||||||||||||||||||||
For financial assets measured at fair value on a recurring basis, the following tables set forth the fair value measurements by fair value hierarchy at the dates indicated. | |||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
Significant other observable inputs (Level 2) | |||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||
Municipal bonds | $ | 8,043 | $ | 9,181 | |||||||||||||||||
Mortgage-backed - GSEs | 8,876 | 12,815 | |||||||||||||||||||
REMICs | 8,542 | 18,700 | |||||||||||||||||||
Equities | - | 4 | |||||||||||||||||||
Total significant other observerable inputs (Level 2) | 25,461 | 40,700 | |||||||||||||||||||
Significant unobservable inputs (Level 3) | |||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||
Corporate debt | 3,508 | 1,882 | |||||||||||||||||||
Total significant unobservable inputs (Level 3) | 3,508 | 1,882 | |||||||||||||||||||
Total securities available-for-sale | $ | 28,969 | $ | 42,582 | |||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 28,969 | $ | 42,582 | |||||||||||||||||
(Dollars in thousands) | Significant | ||||||||||||||||||||
Unobservable Inputs | |||||||||||||||||||||
(Level 3) | |||||||||||||||||||||
31-Dec-11 | $ | 1,486 | |||||||||||||||||||
Unrealized gains | 428 | ||||||||||||||||||||
Paydowns and maturities | (14 | ) | |||||||||||||||||||
Net transfers out of level 3 | (18 | ) | |||||||||||||||||||
31-Dec-12 | $ | 1,882 | |||||||||||||||||||
Unrealized gains | 1,625 | ||||||||||||||||||||
Discount accretion | 1 | ||||||||||||||||||||
30-Sep-13 | $ | 3,508 | |||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
The change in unrealized gains for the period included in comprehensive income for assets held at the end of the reporting period | $ | 1,625 | $ | 428 | |||||||||||||||||
We may be required to measure certain assets at fair value on a nonrecurring basis. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or writedowns of individual assets. | |||||||||||||||||||||
The following is a discussion of assets and liabilities measured at fair value on a nonrecurring basis. | |||||||||||||||||||||
Impaired loans. Certain impaired loans over $250,000 are individually reviewed to determine the amount of each loan that may be at risk of noncollection. When repayment is expected solely from the collateral, the impaired loans are reported at the fair value of the underlying collateral using property appraisals less any projected selling costs. | |||||||||||||||||||||
Real estate owned. The fair value of real estate owned is estimated using property appraisals less any projected selling costs. | |||||||||||||||||||||
For financial assets measured at fair value on a nonrecurring basis, the following table sets forth the fair value measurements by fair value hierarchy at the dates indicated. | |||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||
(Dollars in thousands) | Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||
Level 3 | |||||||||||||||||||||
Impaired loans | $ | 592 | $ | 592 | $ | 4,552 | $ | 4,552 | |||||||||||||
Real estate owned | 465 | 465 | 146 | 146 | |||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 1,057 | $ | 1,057 | $ | 4,698 | $ | 4,698 | |||||||||||||
For Level 3 assets measured at fair value on a recurring and nonrecurring basis as of September 30, 2013, the following table sets forth the significant unobservable inputs used in the fair value measurements. | |||||||||||||||||||||
(Dollars in thousands) | Fair Value | Valuation Technique | Significant | Significant Unobservable | |||||||||||||||||
Unobservable Inputs | Input Value | ||||||||||||||||||||
Recurring basis | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||
Corporate debt | $ 3,508 | Discounted cash flow | Average probability of default | 2.19% | |||||||||||||||||
Correlation for issuers in the same industry | 50% | ||||||||||||||||||||
Deferral/default recovery rate on currently defaulted/deferring assets and projected defaults | 0% | ||||||||||||||||||||
Prepayment | 0% | ||||||||||||||||||||
Nonrecurring basis | |||||||||||||||||||||
Impaired loans | 592 | Appraisal value | Selling costs | 10-20% | |||||||||||||||||
Real estate owned | 465 | Appraisal value | Selling costs | 10-20% | |||||||||||||||||
The following presents the fair value of financial instruments. In cases where quoted market prices are not available, fair value is based on estimates using present value or other valuation techniques. These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be sustained by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. In addition, the following information should not be interpreted as an estimate of the fair value of the Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
The carrying amounts approximate the asset’s fair values. | |||||||||||||||||||||
Securities Available-for Sale | |||||||||||||||||||||
See previous discussion on securities available-for-sale measured at fair value on a recurring basis for further details on the valuation techniques used to determine the fair value of securities available-for-sale. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
The fair values for residential real estate loans are estimated using discounted cash flow analyses using mortgage commitment rates from either FNMA or FHLMC. The fair values of consumer and commercial business loans are estimated using discounted cash flow analyses, using interest rates reported in various government releases. The fair values of multi-family and commercial real estate loans are estimated using discounted cash flow analysis, using interest rates based on national commitment rates on similar loans. The carrying value is net of the allowance for loan losses. Due to the significant judgment involved in evaluating credit quality and the allowance for loan losses, loans are classified as Level 3. | |||||||||||||||||||||
Federal Home Loan Bank Stock | |||||||||||||||||||||
The carrying amount approximates the asset’s fair value. | |||||||||||||||||||||
Accrued Interest Receivable and Accrued Interest Payable | |||||||||||||||||||||
The fair value of these instruments approximates the carrying value. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
The fair values disclosed for demand deposits (e.g., savings accounts) are, by definition, equal to the amount payable on demand at the repricing date (i.e., their carrying amounts). Fair values of certificates of deposits are estimated using a discounted cash flow calculation that applies the FHLB of Pittsburgh advance yield curve to the maturity schedule of the Bank’s certificates of deposit. | |||||||||||||||||||||
Borrowings | |||||||||||||||||||||
The fair value of FHLB advances and repurchase agreements are estimated using a discounted cash flow calculation using the current FHLB advance yield curve. This is the method that the FHLB of Pittsburgh used to determine the cost of terminating the borrowing contract. | |||||||||||||||||||||
Commitments to Extend Credit | |||||||||||||||||||||
These financial instruments are generally not subject to sale and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment, and the fair value determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure purposes. | |||||||||||||||||||||
The following table sets forth the carrying amount and estimated fair value of financial instruments at the dates indicated (dollars in thousands). | |||||||||||||||||||||
Carrying | Estimated | Fair Value Measurements | |||||||||||||||||||
30-Sep-13 | Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 14,089 | $ | 14,089 | $ | 14,089 | $ | - | $ | - | |||||||||||
Securities available-for-sale | 28,969 | 28,969 | - | 25,461 | 3,508 | ||||||||||||||||
Loans, net | 261,737 | 266,231 | - | - | 266,231 | ||||||||||||||||
FHLB stock | 2,264 | 2,264 | - | 2,264 | - | ||||||||||||||||
Accrued interest receivable | 1,008 | 1,008 | - | 1,008 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 224,868 | 225,192 | - | 225,192 | - | ||||||||||||||||
Borrowings | 42,500 | 43,584 | - | 43,584 | - | ||||||||||||||||
Accrued interest payable | 251 | 251 | - | 251 | - | ||||||||||||||||
Carrying | Estimated | Fair Value Measurements | |||||||||||||||||||
31-Dec-12 | Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 5,874 | $ | 5,874 | $ | 5,874 | $ | - | $ | - | |||||||||||
Securities available-for-sale | 42,582 | 42,582 | - | 40,700 | 1,882 | ||||||||||||||||
Loans, net | 249,530 | 260,538 | - | - | 260,538 | ||||||||||||||||
FHLB stock | 3,787 | 3,787 | - | 3,787 | - | ||||||||||||||||
Accrued interest receivable | 1,035 | 1,035 | - | 1,035 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 214,057 | 215,863 | - | 215,863 | - | ||||||||||||||||
Borrowings | 48,678 | 50,347 | - | 50,347 | - | ||||||||||||||||
Accrued interest payable | 302 | 302 | - | 302 | - | ||||||||||||||||
Note_9_Other_Comprehensive_Inc
Note 9. Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||||||
Note 9. Other Comprehensive Income (Loss) | |||||||||||||
The following table sets forth the tax effects allocated to each component of the Company’s other comprehensive income (loss) at the dates indicated (dollars in thousands). | |||||||||||||
Three Months Ended September 30, 2013 | Before Income | Income Tax | Net of Income | ||||||||||
Tax (Benefit) | (Benefit) | Tax (Benefit) | |||||||||||
Expense | Expense | Expense | |||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 799 | $ | 313 | $ | 486 | |||||||
Three Months Ended September 30, 2012 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 224 | $ | 88 | $ | 136 | |||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale, | $ | 800 | $ | 314 | $ | 486 | |||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 54 | $ | 21 | $ | 33 | |||||||
Note_10_Segment_Reporting
Note 10. Segment Reporting | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||
Note 10. Segment Reporting | |||||||||||||||||||||
The consolidated operating results of FedFirst Financial are presented as a single financial services segment. FedFirst Financial is the parent company of the Bank, which owns FFEC. FFEC has an 80% controlling interest in Exchange Underwriters, Inc. Exchange Underwriters, Inc. is managed separately from the banking and related financial services that the Company offers. Exchange Underwriters, Inc. is an independent insurance agency that offers property and casualty, life, health, commercial general liability, surety and other insurance products. | |||||||||||||||||||||
Following is a table of selected financial data for the Company's subsidiaries and consolidated results for the dates indicated (dollars in thousands). | |||||||||||||||||||||
First Federal | Exchange | FedFirst | Net | Consolidated | |||||||||||||||||
Savings Bank | Underwriters, | Financial | Eliminations | ||||||||||||||||||
Inc. | Corporation | ||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Assets | $ | 322,826 | $ | 1,306 | $ | 53,198 | $ | (54,817 | ) | $ | 322,513 | ||||||||||
Liabilities | 274,858 | 482 | 32 | (6,123 | ) | 269,249 | |||||||||||||||
Stockholders' equity | 47,968 | 824 | 53,166 | (48,694 | ) | 53,264 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Assets | $ | 318,576 | $ | 1,034 | $ | 53,264 | $ | (54,114 | ) | $ | 318,760 | ||||||||||
Liabilities | 273,186 | 401 | 30 | (8,151 | ) | 265,466 | |||||||||||||||
Stockholders' equity | 45,390 | 633 | 53,234 | (45,963 | ) | 53,294 | |||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Total interest income | $ | 3,155 | $ | - | $ | 21 | $ | (21 | ) | $ | 3,155 | ||||||||||
Total interest expense | 679 | - | - | (21 | ) | 658 | |||||||||||||||
Net interest income | 2,476 | - | 21 | - | 2,497 | ||||||||||||||||
Provision for loan losses | 200 | - | - | - | 200 | ||||||||||||||||
Net interest income after provision for loan losses | 2,276 | - | 21 | - | 2,297 | ||||||||||||||||
Noninterest income | 253 | 755 | - | - | 1,008 | ||||||||||||||||
Noninterest expense | 1,893 | 598 | 60 | - | 2,551 | ||||||||||||||||
Undistributed net income of subsidiary | 88 | - | 489 | (577 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 724 | 157 | 450 | (577 | ) | 754 | |||||||||||||||
Income tax expense (benefit) | 217 | 69 | (13 | ) | - | 273 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 507 | 88 | 463 | (577 | ) | 481 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 18 | - | - | - | 18 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 489 | $ | 88 | $ | 463 | $ | (577 | ) | $ | 463 | ||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Total interest income | $ | 9,681 | $ | - | $ | 63 | $ | (63 | ) | $ | 9,681 | ||||||||||
Total interest expense | 2,116 | - | - | (63 | ) | 2,053 | |||||||||||||||
Net interest income | 7,565 | - | 63 | - | 7,628 | ||||||||||||||||
Provision for loan losses | 365 | - | - | - | 365 | ||||||||||||||||
Net interest income after provision for loan losses | 7,200 | - | 63 | - | 7,263 | ||||||||||||||||
Noninterest income | 856 | 2,505 | - | - | 3,361 | ||||||||||||||||
Noninterest expense | 5,641 | 1,900 | 214 | - | 7,755 | ||||||||||||||||
Undistributed net income of subsidiary | 349 | - | 1,933 | (2,282 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 2,764 | 605 | 1,782 | (2,282 | ) | 2,869 | |||||||||||||||
Income tax expense (benefit) | 761 | 256 | (51 | ) | - | 966 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 2,003 | 349 | 1,833 | (2,282 | ) | 1,903 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 70 | - | - | - | 70 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 1,933 | $ | 349 | $ | 1,833 | $ | (2,282 | ) | $ | 1,833 | ||||||||||
(Dollars in thousands) | First Federal | Exchange | FedFirst Financial | Net Eliminations | Consolidated | ||||||||||||||||
Savings Bank | Underwriters, Inc. | Corporation | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
Total interest income | $ | 3,500 | $ | - | $ | 23 | $ | (23 | ) | $ | 3,500 | ||||||||||
Total interest expense | 874 | - | - | (23 | ) | 851 | |||||||||||||||
Net interest income | 2,626 | - | 23 | - | 2,649 | ||||||||||||||||
Provision for loan losses | 100 | - | - | - | 100 | ||||||||||||||||
Net interest income after provision for loan losses | 2,526 | - | 23 | - | 2,549 | ||||||||||||||||
Noninterest income | 268 | 562 | - | - | 830 | ||||||||||||||||
Noninterest expense | 1,812 | 515 | 52 | - | 2,379 | ||||||||||||||||
Undistributed net income of subsidiary | 26 | - | 668 | (694 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net loss of consolidated subsidiary | 1,008 | 47 | 639 | (694 | ) | 1,000 | |||||||||||||||
Income tax expense (benefit) | 335 | 21 | (10 | ) | - | 346 | |||||||||||||||
Net income before noncontrolling interest in net loss of consolidated subsidiary | 673 | 26 | 649 | (694 | ) | 654 | |||||||||||||||
Less: Noncontrolling interest in net loss of consolidated subsidiary | 5 | - | - | - | 5 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 668 | $ | 26 | $ | 649 | $ | (694 | ) | $ | 649 | ||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Total interest income | $ | 10,608 | $ | 1 | $ | 70 | $ | (70 | ) | $ | 10,609 | ||||||||||
Total interest expense | 2,941 | - | - | (70 | ) | 2,871 | |||||||||||||||
Net interest income | 7,667 | 1 | 70 | - | 7,738 | ||||||||||||||||
Provision for loan losses | 310 | - | - | - | 310 | ||||||||||||||||
Net interest income after provision for loan losses | 7,357 | 1 | 70 | - | 7,428 | ||||||||||||||||
Noninterest income | 796 | 1,747 | - | - | 2,543 | ||||||||||||||||
Noninterest expense | 5,529 | 1,510 | 261 | - | 7,300 | ||||||||||||||||
Undistributed net income of subsidiary | 132 | - | 1,825 | (1,957 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 2,756 | 238 | 1,634 | (1,957 | ) | 2,671 | |||||||||||||||
Income tax expense (benefit) | 905 | 106 | (65 | ) | - | 946 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 1,851 | 132 | 1,699 | (1,957 | ) | 1,725 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 26 | - | - | - | 26 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 1,825 | $ | 132 | $ | 1,699 | $ | (1,957 | ) | $ | 1,699 | ||||||||||
Note_11_Stock_Based_Compensati
Note 11. Stock Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
Note 11. Stock Based Compensation | |||||||||||||||||
In 2006, the Company’s stockholders approved the 2006 Equity Incentive Plan (the “2006 Plan”). The purpose of the 2006 Plan is to promote the Company’s success and enhance its value by linking the personal interests of its employees, officers, directors and directors emeritus to those of the Company’s stockholders, and by providing participants with an incentive for outstanding performance. All of the Company’s salaried employees, officers and directors are eligible to participate in the 2006 Plan. The 2006 Plan authorizes the granting of options to purchase shares of the Company’s stock, which may be non-statutory stock options or incentive stock options, and restricted stock which is subject to restrictions on transferability and subject to forfeiture. The 2006 Plan reserved an aggregate number of 214,787 shares of which 153,419 may be issued in connection with the exercise of stock options and 61,367 may be issued as restricted stock. | |||||||||||||||||
In 2011, the Company’s stockholders approved the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan’s details related to purpose, eligibility, and granting of shares are the same as noted above for the 2006 Plan. The 2011 Plan reserved an aggregate number of 204,218 shares of which 145,870 may be issued in connection with the exercise of stock options and 58,348 may be issued as restricted stock. | |||||||||||||||||
On April 2, 2013, the Company granted restricted shares of common stock and options to purchase shares of common stock to certain directors, executive officers and key employees of the Company. The restricted shares and options vest over five years at the rate of 20% per year and the stock options have a 10 year contractual life from the date of grant. The closing price of the Company’s common stock on the grant date is the exercise price of the options. Details of the grants are summarized as follows at the dates indicated (dollars in thousands, except per share amounts). | |||||||||||||||||
2-Apr-13 | |||||||||||||||||
Number of restricted shares granted | 14,750 | ||||||||||||||||
Number of stock options granted | 74,170 | ||||||||||||||||
Grant date common stock price | $ | 17.65 | |||||||||||||||
Restricted shares market value before tax | 260 | ||||||||||||||||
Stock options market value before tax | 277 | ||||||||||||||||
Stock option pricing assumptions: | |||||||||||||||||
Expected life in years | 7 | ||||||||||||||||
Expected dividend yield | 0.91 | % | |||||||||||||||
Risk-free interest rate | 0.82 | % | |||||||||||||||
Expected volatility | 21.8 | % | |||||||||||||||
Weighted average grant date fair value | $ | 3.73 | |||||||||||||||
The Company recognizes expense associated with the awards over the five-year vesting period in accordance with ASC 718 Compensation - Stock Compensation and ASC 505-50 Equity-Based Payments to Non-Employees. Compensation expense was $68,000 for the three months ended September 30, 2013 compared to $39,000 for the three months ended September 30, 2012. For the nine months ended September 30, 2013, compensation expense was $190,000 compared to $108,000 for the nine months ended September 30, 2012. As of September 30, 2013, there was $990,000 of total unrecognized compensation cost related to nonvested stock-based compensation compared to $644,000 at December 31, 2012. The compensation expense at September 30, 2013 is expected to be recognized ratably over the weighted average remaining service period of 4.0 years. | |||||||||||||||||
Stock Options | |||||||||||||||||
Stock-Based Compensation | Number | Weighted | Weighted | ||||||||||||||
of | Average | Average | |||||||||||||||
Shares | Exercise | Remaining | |||||||||||||||
Price | Term | ||||||||||||||||
Outstanding at December 31, 2012 | 225,119 | $ | 16.07 | 7.29 | |||||||||||||
Granted | 74,170 | 17.65 | |||||||||||||||
Exercised or converted | (379 | ) | 14.15 | ||||||||||||||
Forfeited | (283 | ) | 14.15 | ||||||||||||||
Expired | (1,705 | ) | 16.85 | ||||||||||||||
Outstanding at September 30, 2013 | 296,922 | $ | 16.46 | 7.3 | |||||||||||||
Exercisable at September 30, 2013 | 121,532 | $ | 17.55 | 4.9 | |||||||||||||
Stock Options | Restricted Stock Awards | ||||||||||||||||
Number of | Fair-Value | Number of | Fair-Value | ||||||||||||||
Shares | Price | Shares | Price | ||||||||||||||
Nonvested at December 31, 2012 | 133,075 | $ | 3.17 | 22,552 | $ | 13.88 | |||||||||||
Granted | 74,170 | 3.73 | 14,750 | 17.65 | |||||||||||||
Vested | (31,572 | ) | 3.36 | (5,946 | ) | 13.63 | |||||||||||
Forfeited | (283 | ) | 6.04 | (141 | ) | 14.15 | |||||||||||
Nonvested at September 30, 2013 | 175,390 | $ | 3.37 | 31,215 | $ | 15.71 | |||||||||||
Note_3_Securities_Tables
Note 3. Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 8,005 | $ | 235 | $ | 197 | $ | 8,043 | |||||||||||||||||||||||||||||||||||
Mortgage-backed - GSEs | 8,393 | 483 | - | 8,876 | |||||||||||||||||||||||||||||||||||||||
REMICs | 8,413 | 136 | 7 | 8,542 | |||||||||||||||||||||||||||||||||||||||
Corporate debt | 3,996 | - | 488 | 3,508 | |||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 28,807 | $ | 854 | $ | 692 | $ | 28,969 | |||||||||||||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||
Municipal bonds | $ | 8,756 | $ | 435 | $ | 10 | $ | 9,181 | |||||||||||||||||||||||||||||||||||
Mortgage-backed - GSEs | 12,120 | 695 | - | 12,815 | |||||||||||||||||||||||||||||||||||||||
REMICs | 18,345 | 355 | - | 18,700 | |||||||||||||||||||||||||||||||||||||||
Corporate debt | 3,995 | - | 2,113 | 1,882 | |||||||||||||||||||||||||||||||||||||||
Equities | 4 | - | - | 4 | |||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 43,220 | $ | 1,485 | $ | 2,123 | $ | 42,582 | |||||||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair | |||||||||||||||||||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||||||||||||||||||||
Due from one to five years | $ | 2,113 | $ | 2,349 | |||||||||||||||||||||||||||||||||||||||
Due from five to ten years | 6,710 | 6,790 | |||||||||||||||||||||||||||||||||||||||||
Due after ten years | 19,984 | 19,830 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 28,807 | $ | 28,969 | |||||||||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Number of | Fair | Gross | Number of | Fair | Gross | Number of | Fair | Gross | ||||||||||||||||||||||||||||||||||
Securities | Value | Unrealized | Securities | Value | Unrealized | Securities | Value | Unrealized | |||||||||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||||||||||||
Municipal bonds | 3 | $ | 5,247 | $ | 197 | - | $ | - | $ | - | 3 | $ | 5,247 | $ | 197 | ||||||||||||||||||||||||||||
REMICs | 3 | 2,688 | 7 | - | - | - | 3 | 2,688 | 7 | ||||||||||||||||||||||||||||||||||
Corporate debt | - | - | - | 3 | 3,508 | 488 | 3 | 3,508 | 488 | ||||||||||||||||||||||||||||||||||
Total securities temporarily impaired | 6 | $ | 7,935 | $ | 204 | 3 | $ | 3,508 | $ | 488 | 9 | $ | 11,443 | $ | 692 | ||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Number of | Fair | Gross | Number of | Fair | Gross | Number of | Fair | Gross | ||||||||||||||||||||||||||||||||||
Securities | Value | Unrealized | Securities | Value | Unrealized | Securities | Value | Unrealized | |||||||||||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||||||||||||
Municipal bonds | 1 | $ | 1,151 | $ | 10 | - | $ | - | $ | - | 1 | $ | 1,151 | $ | 10 | ||||||||||||||||||||||||||||
Corporate debt | - | - | - | 3 | 1,882 | 2,113 | 3 | 1,882 | 2,113 | ||||||||||||||||||||||||||||||||||
Total securities temporarily impaired | 1 | $ | 1,151 | $ | 10 | 3 | $ | 1,882 | $ | 2,113 | 4 | $ | 3,033 | $ | 2,123 | ||||||||||||||||||||||||||||
' | |||||||||||||||||||||||||||||||||||||||||||
Pool | Class | Tranche | Amortized | Fair | Unrealized | S&P | Current | Total | Current | Performing | Additional | Additional | |||||||||||||||||||||||||||||||
Cost | Value | Loss | Rating | Number of | Collateral | Deferrals and | Collateral | Immediate | Immediate | ||||||||||||||||||||||||||||||||||
Insurance | Defaults | Deferrals / | Deferrals / | ||||||||||||||||||||||||||||||||||||||||
Companies | Defaults Before | Defaults | |||||||||||||||||||||||||||||||||||||||||
Causing an | Before | ||||||||||||||||||||||||||||||||||||||||||
Interest | Causing a | ||||||||||||||||||||||||||||||||||||||||||
Shortfall (a) | Break in | ||||||||||||||||||||||||||||||||||||||||||
Yield (b) | |||||||||||||||||||||||||||||||||||||||||||
I-PreTSL I | Mezzanine | B-3 | $ | 1,500 | $ | 1,246 | $ | (254 | ) | CCC- | 16 | $ | 188,500 | $ | 32,500 | $ | 156,000 | $ | 101,603 | $ | 44,500 | ||||||||||||||||||||||
I-PreTSL II | Mezzanine | B-3 | 2,496 | 2,262 | (234 | ) | BB+ | 23 | 305,500 | 24,500 | 281,000 | 173,825 | 110,500 | ||||||||||||||||||||||||||||||
$ | 3,996 | $ | 3,508 | $ | (488 | ) |
Note_4_Loans_Tables
Note 4. Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate-mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | $ | 103,170 | 37.7 | % | $ | 110,754 | 43.4 | % | |||||||||||||||||||||||||||||||||||||||||||||
Purchased | 7,575 | 2.7 | 10,188 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | 110,745 | 40.4 | 120,942 | 47.4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 7,016 | 2.6 | 11,101 | 4.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchased | 3,799 | 1.4 | 4,226 | 1.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total multi-family | 10,815 | 4 | 15,327 | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 53,368 | 19.5 | 45,504 | 17.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate-mortgage | 174,928 | 63.9 | 181,773 | 71.2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Real estate-construction: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | 3,581 | 1.3 | 1,931 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 16,341 | 6 | 5,231 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate-construction | 19,922 | 7.3 | 7,162 | 2.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 47,150 | 17.2 | 41,537 | 16.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 9,200 | 3.4 | 7,841 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 56,350 | 20.6 | 49,378 | 19.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 1,739 | 0.6 | 1,923 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 58,089 | 21.2 | 51,301 | 20.1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | 20,756 | 7.6 | 15,055 | 5.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 273,695 | 100 | % | $ | 255,291 | 100 | % | |||||||||||||||||||||||||||||||||||||||||||||
Net premiums on loans purchased | 87 | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net deferred loan costs | 365 | 450 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans in process | (9,217 | ) | (3,431 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (3,193 | ) | (2,886 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 261,737 | $ | 249,530 | |||||||||||||||||||||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | 30-59 | 60-89 | 90 Days | ||||||||||||||||||||||||||||||||||||||||||||||||
Days | Days | or Greater | Days | Days | or Greater | ||||||||||||||||||||||||||||||||||||||||||||||||
Past | Past | Past | Past | Past | Past | ||||||||||||||||||||||||||||||||||||||||||||||||
Due | Due | Due | Due | Due | Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | $ | - | $ | 576 | $ | 570 | $ | 1,052 | $ | 138 | $ | 281 | |||||||||||||||||||||||||||||||||||||||||
Purchased | - | 266 | 238 | - | - | 595 | |||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | - | 842 | 808 | 1,052 | 138 | 876 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 32 | - | 502 | 456 | - | 74 | |||||||||||||||||||||||||||||||||||||||||||||||
Total real estate - mortgage | 32 | 842 | 1,310 | 1,508 | 138 | 950 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 47 | - | 16 | 510 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 43 | 160 | 82 | 406 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 90 | 160 | 98 | 916 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other | 7 | - | 13 | 5 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 97 | 160 | 111 | 921 | 36 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial business | - | - | - | 8 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total delinquencies | $ | 129 | $ | 1,002 | $ | 1,421 | $ | 2,437 | $ | 174 | $ | 950 | |||||||||||||||||||||||||||||||||||||||||
' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Amount | Number of | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||||
Contracts | Contracts | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 6 | $ | 1,799 | 2 | $ | 1,269 | |||||||||||||||||||||||||||||||||||||||||||||||
Purchased | 4 | 403 | 5 | 763 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total one- to four-family residential | 10 | 2,202 | 7 | 2,032 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | 2 | 502 | 2 | 172 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total real estate - mortgage | 12 | 2,704 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of 80% or less | 1 | 16 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Loan-to-value ratio of greater than 80% | 1 | 82 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity | 2 | 98 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other | 1 | 13 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer | 3 | 111 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 15 | 2,815 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accruing loans past due 90 days or more | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans and accruing loans past due 90 days or more | 15 | 2,815 | 9 | 2,204 | |||||||||||||||||||||||||||||||||||||||||||||||||
Real estate owned | 3 | 505 | 2 | 146 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets | 18 | $ | 3,320 | 11 | $ | 2,350 | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In nonaccrual status | 2 | 1,139 | 3 | 1,254 | |||||||||||||||||||||||||||||||||||||||||||||||||
Performing under modified terms | 7 | 1,714 | 7 | 1,501 | |||||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings | 9 | $ | 2,853 | 10 | $ | 2,755 | |||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming loans to total loans | 1.03 | % | 0.86 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets to total assets | 1.03 | 0.74 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets and troubled debt restructurings performing under modified terms to total assets | 1.56 | 1.21 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In Nonaccrual | Performing Under | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Status | Modified Terms | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three and Nine Months | Number | Pre- | Post- | Specific | Number | Pre- | Post- | Specific | |||||||||||||||||||||||||||||||||||||||||||||
Ended September 30, 2013 | of | Modification | Modification | Allowance | of | Modification | Modification | Allowance | |||||||||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | - | - | - | - | 1 | 373 | 276 | - | |||||||||||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | - | $ | - | $ | - | $ | - | 1 | $ | 373 | $ | 276 | $ | - | |||||||||||||||||||||||||||||||||||||||
In Nonaccrual | Performing Under | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Status | Modified Terms | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three and Nine Months | Number | Pre- | Post- | Specific | Number | Pre- | Post- | Specific | |||||||||||||||||||||||||||||||||||||||||||||
Ended September 30, 2012 | of | Modification | Modification | Allowance | of | Modification | Modification | Allowance | |||||||||||||||||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | 1 | $ | 993 | $ | 993 | $ | - | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||
Purchased | 1 | 168 | 168 | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total troubled debt restructurings | 2 | $ | 1,161 | $ | 1,161 | $ | - | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family originated residential | $ | 1,510 | $ | 1,510 | $ | - | $ | 1,518 | $ | 52 | |||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,718 | 2,718 | - | 2,753 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | 408 | 408 | - | 410 | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 4,636 | $ | 4,636 | $ | - | $ | 4,681 | $ | 174 | |||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family originated residential | $ | 1,528 | $ | 1,528 | $ | - | $ | 1,625 | $ | 16 | |||||||||||||||||||||||||||||||||||||||||||
One- to four-family purchased residential | 309 | 509 | - | 411 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 2,571 | 2,683 | - | 2,799 | 168 | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan-to-value ratio of 80% or less) | 136 | 136 | - | 138 | 9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other consumer | 8 | 8 | - | 10 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 4,552 | $ | 4,864 | $ | - | $ | 4,983 | $ | 195 | |||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||
Loan Balance | $ | 103,170 | $ | 7,575 | $ | 7,016 | $ | 3,799 | $ | 53,368 | $ | 3,581 | $ | 16,341 | $ | 47,150 | $ | 9,200 | $ | 1,739 | $ | 20,756 | $ | 273,695 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Jun-13 | $ | 457 | $ | 300 | $ | 32 | $ | 93 | $ | 853 | $ | 3 | $ | 23 | $ | 475 | $ | 284 | $ | 18 | $ | 285 | $ | 167 | $ | 2,990 | |||||||||||||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Recoveries | 3 | - | - | - | - | - | - | - | - | - | - | - | 3 | ||||||||||||||||||||||||||||||||||||||||
Provision | 2 | (6 | ) | (11 | ) | (1 | ) | 76 | 2 | 2 | 12 | 16 | 1 | 156 | (49 | ) | 200 | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
31-Dec-12 | $ | 466 | $ | 372 | $ | 33 | $ | 102 | $ | 802 | $ | 3 | $ | 8 | $ | 434 | $ | 246 | $ | 19 | $ | 245 | $ | 156 | $ | 2,886 | |||||||||||||||||||||||||||
Charge-offs | (12 | ) | (33 | ) | - | - | - | - | - | - | (35 | ) | - | - | - | (80 | ) | ||||||||||||||||||||||||||||||||||||
Recoveries | 9 | - | - | - | 9 | - | - | - | 1 | 3 | - | - | 22 | ||||||||||||||||||||||||||||||||||||||||
Provision | (1 | ) | (45 | ) | (12 | ) | (10 | ) | 118 | 2 | 17 | 53 | 88 | (3 | ) | 196 | (38 | ) | 365 | ||||||||||||||||||||||||||||||||||
30-Sep-13 | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
Collectively evaluated on historical loss experience | $ | 128 | $ | 127 | $ | - | $ | 58 | $ | 106 | $ | - | $ | - | $ | 67 | $ | 115 | $ | 13 | $ | 12 | $ | - | $ | 626 | |||||||||||||||||||||||||||
Collectively evaluated on qualitative factors | 334 | 167 | 21 | 34 | 823 | 5 | 25 | 420 | 185 | 6 | 429 | - | 2,449 | ||||||||||||||||||||||||||||||||||||||||
Unallocated | - | - | - | - | - | - | - | - | - | - | - | 118 | 118 | ||||||||||||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 462 | $ | 294 | $ | 21 | $ | 92 | $ | 929 | $ | 5 | $ | 25 | $ | 487 | $ | 300 | $ | 19 | $ | 441 | $ | 118 | $ | 3,193 | |||||||||||||||||||||||||||
Percent of Allowance | 14.5 | % | 9.2 | % | 0.6 | % | 2.9 | % | 29.1 | % | 0.2 | % | 0.7 | % | 15.3 | % | 9.4 | % | 0.6 | % | 13.8 | % | 3.7 | % | 100 | % | |||||||||||||||||||||||||||
Percent of Loans (1) | 37.7 | % | 2.7 | % | 2.6 | % | 1.4 | % | 19.5 | % | 1.3 | % | 6 | % | 17.2 | % | 3.4 | % | 0.6 | % | 7.6 | % | 100 | % | |||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | Unallocated | Total | |||||||||||||||||||||||||||||||||||||||||
Loan Balance | $ | 111,780 | $ | 11,343 | $ | 11,207 | $ | 4,257 | $ | 42,328 | $ | 3,476 | $ | 5,795 | $ | 36,903 | $ | 8,053 | $ | 1,432 | $ | 12,195 | $ | 248,769 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Jun-12 | $ | 497 | $ | 526 | $ | 36 | $ | 122 | $ | 788 | $ | 5 | $ | 9 | $ | 414 | $ | 263 | $ | 17 | $ | 172 | $ | 139 | $ | 2,988 | |||||||||||||||||||||||||||
Charge-offs | - | - | - | - | - | - | - | - | - | (1 | ) | - | - | (1 | ) | ||||||||||||||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | 1 | - | - | - | 1 | - | - | - | 4 | ||||||||||||||||||||||||||||||||||||||||
Provision | (4 | ) | 64 | (2 | ) | (19 | ) | 55 | - | - | (1 | ) | (1 | ) | 1 | 22 | (15 | ) | 100 | ||||||||||||||||||||||||||||||||||
30-Sep-12 | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
31-Dec-11 | $ | 534 | $ | 465 | $ | 39 | $ | 124 | $ | 858 | $ | 6 | $ | 12 | $ | 379 | $ | 267 | $ | 24 | $ | 242 | $ | 148 | $ | 3,098 | |||||||||||||||||||||||||||
Charge-offs | (115 | ) | (109 | ) | - | - | (33 | ) | - | - | - | (49 | ) | (1 | ) | (15 | ) | - | (322 | ) | |||||||||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | 1 | - | - | - | 2 | - | - | - | 5 | ||||||||||||||||||||||||||||||||||||||||
Provision | 74 | 234 | (5 | ) | (21 | ) | 18 | (1 | ) | (3 | ) | 34 | 43 | (6 | ) | (33 | ) | (24 | ) | 310 | |||||||||||||||||||||||||||||||||
30-Sep-12 | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | 200 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 200 | |||||||||||||||||||||||||||
Collectively evaluated on historical loss experience | 146 | 170 | - | 65 | 109 | - | - | 82 | 110 | 12 | 2 | - | 696 | ||||||||||||||||||||||||||||||||||||||||
Collectively evaluated on qualitative factors | 349 | 220 | 34 | 38 | 735 | 5 | 9 | 331 | 153 | 5 | 192 | - | 2,071 | ||||||||||||||||||||||||||||||||||||||||
Unallocated | - | - | - | - | - | - | - | - | - | - | - | 124 | 124 | ||||||||||||||||||||||||||||||||||||||||
Total allowance for loan losses | $ | 495 | $ | 590 | $ | 34 | $ | 103 | $ | 844 | $ | 5 | $ | 9 | $ | 413 | $ | 263 | $ | 17 | $ | 194 | $ | 124 | $ | 3,091 | |||||||||||||||||||||||||||
Percent of Allowance | 16 | % | 19.1 | % | 1.1 | % | 3.3 | % | 27.3 | % | 0.2 | % | 0.3 | % | 13.4 | % | 8.5 | % | 0.5 | % | 6.3 | % | 4 | % | 100 | % | |||||||||||||||||||||||||||
Percent of Loans (1) | 44.9 | % | 4.6 | % | 4.5 | % | 1.7 | % | 17 | % | 1.4 | % | 2.3 | % | 14.9 | % | 3.2 | % | 0.6 | % | 4.9 | % | 100 | % | |||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | Total | |||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-13 | (originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | loans | |||||||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 101,371 | $ | 7,172 | $ | 7,016 | $ | 3,799 | $ | 50,104 | $ | 3,581 | $ | 16,341 | $ | 46,726 | $ | 9,118 | $ | 1,726 | $ | 18,602 | $ | 265,556 | |||||||||||||||||||||||||||||
Special Mention | - | - | - | - | 334 | - | - | - | - | - | 2,154 | 2,488 | |||||||||||||||||||||||||||||||||||||||||
Substandard | 1,799 | 403 | - | - | 2,930 | - | - | 424 | 82 | 13 | - | 5,651 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 103,170 | $ | 7,575 | $ | 7,016 | $ | 3,799 | $ | 53,368 | $ | 3,581 | $ | 16,341 | $ | 47,150 | $ | 9,200 | $ | 1,739 | $ | 20,756 | $ | 273,695 | |||||||||||||||||||||||||||||
Real estate - mortgage | Real estate-construction | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity (loan- | |||||||||||||||||||||||||||||||||||||||||||||||||||||
to-value ratio of | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One- to four-family | Multi-family | 80% | greater | Other | Commercial | Total | |||||||||||||||||||||||||||||||||||||||||||||||
residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | (originated) | (purchased) | (originated) | (purchased) | Commercial | Residential | Commercial | or less) | than 80%) | Consumer | business | loans | |||||||||||||||||||||||||||||||||||||||||
Grade: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 109,226 | $ | 9,425 | $ | 11,101 | $ | 4,226 | $ | 42,243 | $ | 1,931 | $ | 5,231 | $ | 41,401 | $ | 7,841 | $ | 1,915 | $ | 14,990 | $ | 249,530 | |||||||||||||||||||||||||||||
Special Mention | - | - | - | - | 443 | - | - | - | - | - | 65 | 508 | |||||||||||||||||||||||||||||||||||||||||
Substandard | 1,528 | 763 | - | - | 2,818 | - | - | 136 | - | 8 | - | 5,253 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 110,754 | $ | 10,188 | $ | 11,101 | $ | 4,226 | $ | 45,504 | $ | 1,931 | $ | 5,231 | $ | 41,537 | $ | 7,841 | $ | 1,923 | $ | 15,055 | $ | 255,291 |
Note_5_Deposits_Tables
Note 5. Deposits (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||
' | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||
Noninterest-bearing demand deposits | $ | 29,495 | 13.1 | % | $ | 23,987 | 11.2 | % | |||||||||
Interest-bearing demand deposits | 32,176 | 14.3 | 17,878 | 8.4 | |||||||||||||
Savings accounts | 24,816 | 11 | 24,271 | 11.3 | |||||||||||||
Money market accounts | 49,477 | 22 | 55,047 | 25.7 | |||||||||||||
Certificates of deposit | 88,904 | 39.6 | 92,874 | 43.4 | |||||||||||||
Total deposits | $ | 224,868 | 100 | % | $ | 214,057 | 100 | % |
Note_6_Borrowings_Tables
Note 6. Borrowings (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
' | |||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||
(Dollars in thousands) | Balance | Weighted | Balance | Weighted | |||||||||||||
Average | Average | ||||||||||||||||
Rate | Rate | ||||||||||||||||
Due in one year or less | $ | 25,812 | 2.51 | % | $ | 19,120 | 1.52 | % | |||||||||
Due in one to two years | 17,000 | 3.56 | 18,000 | 3.41 | |||||||||||||
Due in two to three years | - | - | 12,000 | 3.82 | |||||||||||||
Advances | $ | 42,812 | $ | 49,120 | |||||||||||||
Less: deferred premium on modification | (312 | ) | (442 | ) | |||||||||||||
Total advances | $ | 42,500 | 2.93 | % | $ | 48,678 | 2.77 | % | |||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||
(Dollars in thousands) | Nine Months | Year | |||||||||||||||
Ended | Ended | ||||||||||||||||
September 30, | December 31, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Maximum amount outstanding at any month end during the period | $ | 44,020 | $ | 48,873 | |||||||||||||
Average amount outstanding during the period | 37,822 | 44,348 | |||||||||||||||
Weighted average rate during the period | 3.41 | % | 3.66 | % |
Note_7_Earnings_Per_Share_Tabl
Note 7. Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings per share: [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(Dollars in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Net income of FedFirst Financial Corporation | $ | 463 | $ | 649 | $ | 1,833 | $ | 1,699 | |||||||||
Weighted-average shares outstanding: | |||||||||||||||||
Basic | 2,373,378 | 2,867,983 | 2,428,692 | 2,836,388 | |||||||||||||
Effect of dilutive stock options and restrictive stock awards | 34,020 | 3,330 | 31,407 | 3,189 | |||||||||||||
Diluted | 2,407,398 | 2,871,313 | 2,460,099 | 2,839,577 | |||||||||||||
Earnings per share: | |||||||||||||||||
Basic | $ | 0.2 | $ | 0.23 | $ | 0.75 | $ | 0.6 | |||||||||
Diluted | 0.19 | 0.23 | 0.75 | 0.6 |
Note_8_Fair_Value_Measurements1
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Tables) [Line Items] | ' | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
Significant other observable inputs (Level 2) | |||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||
Municipal bonds | $ | 8,043 | $ | 9,181 | |||||||||||||||||
Mortgage-backed - GSEs | 8,876 | 12,815 | |||||||||||||||||||
REMICs | 8,542 | 18,700 | |||||||||||||||||||
Equities | - | 4 | |||||||||||||||||||
Total significant other observerable inputs (Level 2) | 25,461 | 40,700 | |||||||||||||||||||
Significant unobservable inputs (Level 3) | |||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||
Corporate debt | 3,508 | 1,882 | |||||||||||||||||||
Total significant unobservable inputs (Level 3) | 3,508 | 1,882 | |||||||||||||||||||
Total securities available-for-sale | $ | 28,969 | $ | 42,582 | |||||||||||||||||
Total assets measured at fair value on a recurring basis | $ | 28,969 | $ | 42,582 | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||
(Dollars in thousands) | Significant | ||||||||||||||||||||
Unobservable Inputs | |||||||||||||||||||||
(Level 3) | |||||||||||||||||||||
31-Dec-11 | $ | 1,486 | |||||||||||||||||||
Unrealized gains | 428 | ||||||||||||||||||||
Paydowns and maturities | (14 | ) | |||||||||||||||||||
Net transfers out of level 3 | (18 | ) | |||||||||||||||||||
31-Dec-12 | $ | 1,882 | |||||||||||||||||||
Unrealized gains | 1,625 | ||||||||||||||||||||
Discount accretion | 1 | ||||||||||||||||||||
30-Sep-13 | $ | 3,508 | |||||||||||||||||||
Schedule of Unrealized Gain on Assets Held [Table Text Block] | ' | ||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||
The change in unrealized gains for the period included in comprehensive income for assets held at the end of the reporting period | $ | 1,625 | $ | 428 | |||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||
(Dollars in thousands) | Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||||||
Level 3 | |||||||||||||||||||||
Impaired loans | $ | 592 | $ | 592 | $ | 4,552 | $ | 4,552 | |||||||||||||
Real estate owned | 465 | 465 | 146 | 146 | |||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | 1,057 | $ | 1,057 | $ | 4,698 | $ | 4,698 | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
Carrying | Estimated | Fair Value Measurements | |||||||||||||||||||
30-Sep-13 | Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 14,089 | $ | 14,089 | $ | 14,089 | $ | - | $ | - | |||||||||||
Securities available-for-sale | 28,969 | 28,969 | - | 25,461 | 3,508 | ||||||||||||||||
Loans, net | 261,737 | 266,231 | - | - | 266,231 | ||||||||||||||||
FHLB stock | 2,264 | 2,264 | - | 2,264 | - | ||||||||||||||||
Accrued interest receivable | 1,008 | 1,008 | - | 1,008 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 224,868 | 225,192 | - | 225,192 | - | ||||||||||||||||
Borrowings | 42,500 | 43,584 | - | 43,584 | - | ||||||||||||||||
Accrued interest payable | 251 | 251 | - | 251 | - | ||||||||||||||||
Carrying | Estimated | Fair Value Measurements | |||||||||||||||||||
31-Dec-12 | Amount | Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 5,874 | $ | 5,874 | $ | 5,874 | $ | - | $ | - | |||||||||||
Securities available-for-sale | 42,582 | 42,582 | - | 40,700 | 1,882 | ||||||||||||||||
Loans, net | 249,530 | 260,538 | - | - | 260,538 | ||||||||||||||||
FHLB stock | 3,787 | 3,787 | - | 3,787 | - | ||||||||||||||||
Accrued interest receivable | 1,035 | 1,035 | - | 1,035 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 214,057 | 215,863 | - | 215,863 | - | ||||||||||||||||
Borrowings | 48,678 | 50,347 | - | 50,347 | - | ||||||||||||||||
Accrued interest payable | 302 | 302 | - | 302 | - | ||||||||||||||||
Significant Unobservable Input Value [Member] | ' | ||||||||||||||||||||
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Tables) [Line Items] | ' | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||||||
(Dollars in thousands) | Fair Value | Valuation Technique | Significant | Significant Unobservable | |||||||||||||||||
Unobservable Inputs | Input Value | ||||||||||||||||||||
Recurring basis | |||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||
Corporate debt | $ 3,508 | Discounted cash flow | Average probability of default | 2.19% | |||||||||||||||||
Correlation for issuers in the same industry | 50% | ||||||||||||||||||||
Deferral/default recovery rate on currently defaulted/deferring assets and projected defaults | 0% | ||||||||||||||||||||
Prepayment | 0% | ||||||||||||||||||||
Nonrecurring basis | |||||||||||||||||||||
Impaired loans | 592 | Appraisal value | Selling costs | 10-20% | |||||||||||||||||
Real estate owned | 465 | Appraisal value | Selling costs | 10-20% |
Note_9_Other_Comprehensive_Inc1
Note 9. Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||
Three Months Ended September 30, 2013 | Before Income | Income Tax | Net of Income | ||||||||||
Tax (Benefit) | (Benefit) | Tax (Benefit) | |||||||||||
Expense | Expense | Expense | |||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 799 | $ | 313 | $ | 486 | |||||||
Three Months Ended September 30, 2012 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 224 | $ | 88 | $ | 136 | |||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale, | $ | 800 | $ | 314 | $ | 486 | |||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Other comprehensive income: | |||||||||||||
Unrealized gain on securities available-for-sale | $ | 54 | $ | 21 | $ | 33 |
Note_10_Segment_Reporting_Tabl
Note 10. Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ||||||||||||||||||||
First Federal | Exchange | FedFirst | Net | Consolidated | |||||||||||||||||
Savings Bank | Underwriters, | Financial | Eliminations | ||||||||||||||||||
Inc. | Corporation | ||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Assets | $ | 322,826 | $ | 1,306 | $ | 53,198 | $ | (54,817 | ) | $ | 322,513 | ||||||||||
Liabilities | 274,858 | 482 | 32 | (6,123 | ) | 269,249 | |||||||||||||||
Stockholders' equity | 47,968 | 824 | 53,166 | (48,694 | ) | 53,264 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Assets | $ | 318,576 | $ | 1,034 | $ | 53,264 | $ | (54,114 | ) | $ | 318,760 | ||||||||||
Liabilities | 273,186 | 401 | 30 | (8,151 | ) | 265,466 | |||||||||||||||
Stockholders' equity | 45,390 | 633 | 53,234 | (45,963 | ) | 53,294 | |||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Total interest income | $ | 3,155 | $ | - | $ | 21 | $ | (21 | ) | $ | 3,155 | ||||||||||
Total interest expense | 679 | - | - | (21 | ) | 658 | |||||||||||||||
Net interest income | 2,476 | - | 21 | - | 2,497 | ||||||||||||||||
Provision for loan losses | 200 | - | - | - | 200 | ||||||||||||||||
Net interest income after provision for loan losses | 2,276 | - | 21 | - | 2,297 | ||||||||||||||||
Noninterest income | 253 | 755 | - | - | 1,008 | ||||||||||||||||
Noninterest expense | 1,893 | 598 | 60 | - | 2,551 | ||||||||||||||||
Undistributed net income of subsidiary | 88 | - | 489 | (577 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 724 | 157 | 450 | (577 | ) | 754 | |||||||||||||||
Income tax expense (benefit) | 217 | 69 | (13 | ) | - | 273 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 507 | 88 | 463 | (577 | ) | 481 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 18 | - | - | - | 18 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 489 | $ | 88 | $ | 463 | $ | (577 | ) | $ | 463 | ||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Total interest income | $ | 9,681 | $ | - | $ | 63 | $ | (63 | ) | $ | 9,681 | ||||||||||
Total interest expense | 2,116 | - | - | (63 | ) | 2,053 | |||||||||||||||
Net interest income | 7,565 | - | 63 | - | 7,628 | ||||||||||||||||
Provision for loan losses | 365 | - | - | - | 365 | ||||||||||||||||
Net interest income after provision for loan losses | 7,200 | - | 63 | - | 7,263 | ||||||||||||||||
Noninterest income | 856 | 2,505 | - | - | 3,361 | ||||||||||||||||
Noninterest expense | 5,641 | 1,900 | 214 | - | 7,755 | ||||||||||||||||
Undistributed net income of subsidiary | 349 | - | 1,933 | (2,282 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 2,764 | 605 | 1,782 | (2,282 | ) | 2,869 | |||||||||||||||
Income tax expense (benefit) | 761 | 256 | (51 | ) | - | 966 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 2,003 | 349 | 1,833 | (2,282 | ) | 1,903 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 70 | - | - | - | 70 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 1,933 | $ | 349 | $ | 1,833 | $ | (2,282 | ) | $ | 1,833 | ||||||||||
(Dollars in thousands) | First Federal | Exchange | FedFirst Financial | Net Eliminations | Consolidated | ||||||||||||||||
Savings Bank | Underwriters, Inc. | Corporation | |||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
Total interest income | $ | 3,500 | $ | - | $ | 23 | $ | (23 | ) | $ | 3,500 | ||||||||||
Total interest expense | 874 | - | - | (23 | ) | 851 | |||||||||||||||
Net interest income | 2,626 | - | 23 | - | 2,649 | ||||||||||||||||
Provision for loan losses | 100 | - | - | - | 100 | ||||||||||||||||
Net interest income after provision for loan losses | 2,526 | - | 23 | - | 2,549 | ||||||||||||||||
Noninterest income | 268 | 562 | - | - | 830 | ||||||||||||||||
Noninterest expense | 1,812 | 515 | 52 | - | 2,379 | ||||||||||||||||
Undistributed net income of subsidiary | 26 | - | 668 | (694 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net loss of consolidated subsidiary | 1,008 | 47 | 639 | (694 | ) | 1,000 | |||||||||||||||
Income tax expense (benefit) | 335 | 21 | (10 | ) | - | 346 | |||||||||||||||
Net income before noncontrolling interest in net loss of consolidated subsidiary | 673 | 26 | 649 | (694 | ) | 654 | |||||||||||||||
Less: Noncontrolling interest in net loss of consolidated subsidiary | 5 | - | - | - | 5 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 668 | $ | 26 | $ | 649 | $ | (694 | ) | $ | 649 | ||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Total interest income | $ | 10,608 | $ | 1 | $ | 70 | $ | (70 | ) | $ | 10,609 | ||||||||||
Total interest expense | 2,941 | - | - | (70 | ) | 2,871 | |||||||||||||||
Net interest income | 7,667 | 1 | 70 | - | 7,738 | ||||||||||||||||
Provision for loan losses | 310 | - | - | - | 310 | ||||||||||||||||
Net interest income after provision for loan losses | 7,357 | 1 | 70 | - | 7,428 | ||||||||||||||||
Noninterest income | 796 | 1,747 | - | - | 2,543 | ||||||||||||||||
Noninterest expense | 5,529 | 1,510 | 261 | - | 7,300 | ||||||||||||||||
Undistributed net income of subsidiary | 132 | - | 1,825 | (1,957 | ) | - | |||||||||||||||
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 2,756 | 238 | 1,634 | (1,957 | ) | 2,671 | |||||||||||||||
Income tax expense (benefit) | 905 | 106 | (65 | ) | - | 946 | |||||||||||||||
Net income before noncontrolling interest in net income of consolidated subsidiary | 1,851 | 132 | 1,699 | (1,957 | ) | 1,725 | |||||||||||||||
Less: Noncontrolling interest in net income of consolidated subsidiary | 26 | - | - | - | 26 | ||||||||||||||||
Net income of FedFirst Financial Corporation | $ | 1,825 | $ | 132 | $ | 1,699 | $ | (1,957 | ) | $ | 1,699 |
Note_11_Stock_Based_Compensati1
Note 11. Stock Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||
2-Apr-13 | |||||||||||||||||
Number of restricted shares granted | 14,750 | ||||||||||||||||
Number of stock options granted | 74,170 | ||||||||||||||||
Grant date common stock price | $ | 17.65 | |||||||||||||||
Restricted shares market value before tax | 260 | ||||||||||||||||
Stock options market value before tax | 277 | ||||||||||||||||
Stock option pricing assumptions: | |||||||||||||||||
Expected life in years | 7 | ||||||||||||||||
Expected dividend yield | 0.91 | % | |||||||||||||||
Risk-free interest rate | 0.82 | % | |||||||||||||||
Expected volatility | 21.8 | % | |||||||||||||||
Weighted average grant date fair value | $ | 3.73 | |||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Stock Options | |||||||||||||||||
Stock-Based Compensation | Number | Weighted | Weighted | ||||||||||||||
of | Average | Average | |||||||||||||||
Shares | Exercise | Remaining | |||||||||||||||
Price | Term | ||||||||||||||||
Outstanding at December 31, 2012 | 225,119 | $ | 16.07 | 7.29 | |||||||||||||
Granted | 74,170 | 17.65 | |||||||||||||||
Exercised or converted | (379 | ) | 14.15 | ||||||||||||||
Forfeited | (283 | ) | 14.15 | ||||||||||||||
Expired | (1,705 | ) | 16.85 | ||||||||||||||
Outstanding at September 30, 2013 | 296,922 | $ | 16.46 | 7.3 | |||||||||||||
Exercisable at September 30, 2013 | 121,532 | $ | 17.55 | 4.9 | |||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | ||||||||||||||||
Stock Options | Restricted Stock Awards | ||||||||||||||||
Number of | Fair-Value | Number of | Fair-Value | ||||||||||||||
Shares | Price | Shares | Price | ||||||||||||||
Nonvested at December 31, 2012 | 133,075 | $ | 3.17 | 22,552 | $ | 13.88 | |||||||||||
Granted | 74,170 | 3.73 | 14,750 | 17.65 | |||||||||||||
Vested | (31,572 | ) | 3.36 | (5,946 | ) | 13.63 | |||||||||||
Forfeited | (283 | ) | 6.04 | (141 | ) | 14.15 | |||||||||||
Nonvested at September 30, 2013 | 175,390 | $ | 3.37 | 31,215 | $ | 15.71 |
Note_1_Basis_of_PresentationNa1
Note 1. Basis of Presentation/Nature of Operations (Details) | Sep. 30, 2013 |
Note 1. Basis of Presentation/Nature of Operations (Details) [Line Items] | ' |
Number of Stores | 7 |
Exchange Underwriters Inc [Member] | ' |
Note 1. Basis of Presentation/Nature of Operations (Details) [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 80.00% |
Note_3_Securities_Details
Note 3. Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Note 3. Securities (Details) [Line Items] | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss (in Dollars) | $488,000 | ' | $2,113,000 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 9 | 9 | 4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss (in Dollars) | 204,000 | ' | 10,000 |
Municipal Bonds [Member] | ' | ' | ' |
Note 3. Securities (Details) [Line Items] | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 3 | 3 | ' |
Available-for-sale Securities, Gross Unrealized Gain (Loss) (in Dollars) | ' | -197,000 | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 3 | 3 | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss (in Dollars) | 197,000 | ' | 10,000 |
Corporate Debt Securities [Member] | ' | ' | ' |
Note 3. Securities (Details) [Line Items] | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 3 | 3 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss (in Dollars) | ' | 488,000 | ' |
REMIC [Member] | ' | ' | ' |
Note 3. Securities (Details) [Line Items] | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 3 | 3 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss (in Dollars) | ' | $7,000 | ' |
Note_3_Securities_Details_Amor
Note 3. Securities (Details) - Amortized Cost and Fair Value of Securities Available-For-Sale (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $28,807 | $43,220 |
Gross Unrealized Gains | 854 | 1,485 |
Gross Unrealized Losses | 692 | 2,123 |
Fair Value | 28,969 | 42,582 |
Municipal Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 8,005 | 8,756 |
Gross Unrealized Gains | 235 | 435 |
Gross Unrealized Losses | 197 | 10 |
Fair Value | 8,043 | 9,181 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 8,393 | 12,120 |
Gross Unrealized Gains | 483 | 695 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | 8,876 | 12,815 |
REMIC [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 8,413 | 18,345 |
Gross Unrealized Gains | 136 | 355 |
Gross Unrealized Losses | 7 | ' |
Fair Value | 8,542 | 18,700 |
Corporate Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,996 | 3,995 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 488 | 2,113 |
Fair Value | 3,508 | 1,882 |
Equity Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 4 |
Gross Unrealized Gains | ' | 0 |
Gross Unrealized Losses | ' | 0 |
Fair Value | ' | $4 |
Note_3_Securities_Details_The_
Note 3. Securities (Details) - The Amortized Cost and Fair Value of Securities by Contractual Maturity (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
The Amortized Cost and Fair Value of Securities by Contractual Maturity [Abstract] | ' | ' |
Due from one to five years | $2,113 | ' |
Due from one to five years | 2,349 | ' |
Due from five to ten years | 6,710 | ' |
Due from five to ten years | 6,790 | ' |
Due after ten years | 19,984 | ' |
Due after ten years | 19,830 | ' |
Total | 28,807 | ' |
Total | $28,969 | $42,582 |
Note_3_Securities_Details_Secu
Note 3. Securities (Details) - Securities in a Continuous Unrealized Loss Position (USD $) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Note 3. Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ' | ' |
Unrealized loss position less than 12 months, number of securities | 6 | 1 |
Unrealized loss position less than 12 months, fair value | $7,935,000 | $1,151,000 |
Unrealized loss position less than 12 months, gross unrealized losses | 204,000 | 10,000 |
Unrealized loss position 12 months or more, number of securities | 3 | 3 |
Unrealized loss position 12 months or more, fair value | 3,508,000 | 1,882,000 |
Unrealized loss position 12 months or more, gross unrealized losses | 488,000 | 2,113,000 |
Unrealized loss position, number of securities | 9 | 4 |
Unrealized loss position, fair value | 11,443,000 | 3,033,000 |
Unrealized loss position, gross unrealized losses | 692,000 | 2,123,000 |
REMIC [Member] | ' | ' |
Note 3. Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ' | ' |
Unrealized loss position less than 12 months, number of securities | 3 | ' |
Unrealized loss position less than 12 months, fair value | 2,688,000 | ' |
Unrealized loss position less than 12 months, gross unrealized losses | 7,000 | ' |
Unrealized loss position, number of securities | 3 | ' |
Unrealized loss position, fair value | 2,688,000 | ' |
Unrealized loss position, gross unrealized losses | 7,000 | ' |
Corporate Debt Securities [Member] | ' | ' |
Note 3. Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ' | ' |
Unrealized loss position 12 months or more, number of securities | 3 | 3 |
Unrealized loss position 12 months or more, fair value | 3,508,000 | 1,882,000 |
Unrealized loss position 12 months or more, gross unrealized losses | 488,000 | 2,113,000 |
Unrealized loss position, number of securities | 3 | 3 |
Unrealized loss position, fair value | 3,508,000 | 1,882,000 |
Unrealized loss position, gross unrealized losses | 488,000 | 2,113,000 |
Municipal Bonds [Member] | ' | ' |
Note 3. Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ' | ' |
Unrealized loss position less than 12 months, number of securities | 3 | 1 |
Unrealized loss position less than 12 months, fair value | 5,247,000 | 1,151,000 |
Unrealized loss position less than 12 months, gross unrealized losses | 197,000 | 10,000 |
Unrealized loss position, number of securities | 3 | 1 |
Unrealized loss position, fair value | 5,247,000 | 1,151,000 |
Unrealized loss position, gross unrealized losses | $197,000 | $10,000 |
Note_3_Securities_Details_Addi
Note 3. Securities (Details) - Additional Information Related to the Pooled Preferred Trust Obligations (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
I-PreTSL I [Member] | I-PreTSL II [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | |||
Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | ||||||
Note 3. Securities (Details) - Additional Information Related to the Pooled Preferred Trust Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Class | ' | ' | 'Mezzanine | 'Mezzanine | ' | ' | ' |
Tranche | ' | ' | 'B-3 | 'B-3 | ' | ' | ' |
Amortized Cost (in Dollars) | $28,807 | $43,220 | $1,500 | $2,496 | $3,996 | ' | ' |
Fair Value (in Dollars) | 11,443 | 3,033 | 1,246 | 2,262 | 3,508 | 3,508 | 1,882 |
Unrealized Loss (in Dollars) | $692 | $2,123 | ($254) | ($234) | ($488) | ' | ' |
S&P Rating | ' | ' | 'CCC- | 'BB+ | ' | ' | ' |
Current Number of Insurance Companies | ' | ' | '16 | '23 | ' | ' | ' |
Total Collateral | ' | ' | '$188,500 | '305,500 | ' | ' | ' |
Current Deferrals and Defaults | ' | ' | '$32,500 | '24,500 | ' | ' | ' |
Performing Collateral | ' | ' | '$156,000 | '281,000 | ' | ' | ' |
Performing CollateralAdditional Immediate Deferrals / Defaults Before Causing an Interest Shortfall | ' | ' | '$101,603 | '173,825 | ' | ' | ' |
Additional Immediate Deferrals / Defaults Before Causing a Break in Yield | ' | ' | '$44,500 | '110,500 | ' | ' | ' |
Note_4_Loans_Details
Note 4. Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | Commercial Real Estate Portfolio Segment [Member] | |
Note 4. Loans (Details) [Line Items] | ' | ' | ' | ' |
Proceeds from Collection of Finance Receivables | $7,000 | $7,000 | $76,000 | $66,000 |
Note_4_Loans_Details_Compositi
Note 4. Loans (Details) - Composition of Loan Portfolio (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | ||
In Thousands, unless otherwise specified | |||||||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | $273,695 | $273,695 | $255,291 | ' | $248,769 | ||
Loans Receivable, Percentage of Total Loans | 100.00% | [1] | ' | 100.00% | 100.00% | [1] | ' |
Net premiums on loans purchased | 87 | ' | 106 | ' | ' | ||
Net deferred loan costs | 365 | ' | 450 | ' | ' | ||
Loans in process | -9,217 | ' | -3,431 | ' | ' | ||
Allowance for loan losses | -3,193 | ' | -2,886 | -3,091 | ' | ||
Loans, net | 261,737 | ' | 249,530 | ' | ' | ||
Originated [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 103,170 | 103,170 | 110,754 | ' | 111,780 | ||
Loans Receivable, Percentage of Total Loans | 37.70% | [1] | ' | 43.40% | 44.90% | [1] | ' |
Allowance for loan losses | -462 | ' | ' | -495 | ' | ||
Originated [Member] | Multi-family [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 7,016 | 7,016 | 11,101 | ' | 11,207 | ||
Loans Receivable, Percentage of Total Loans | 2.60% | [1] | ' | 4.30% | 4.50% | [1] | ' |
Allowance for loan losses | -21 | ' | ' | -34 | ' | ||
Purchased [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 7,575 | 7,575 | 10,188 | ' | 11,343 | ||
Loans Receivable, Percentage of Total Loans | 2.70% | [1] | ' | 4.00% | 4.60% | [1] | ' |
Allowance for loan losses | -294 | ' | ' | -590 | ' | ||
Purchased [Member] | Multi-family [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 3,799 | 3,799 | 4,226 | ' | 4,257 | ||
Loans Receivable, Percentage of Total Loans | 1.40% | [1] | ' | 1.70% | 1.70% | [1] | ' |
Allowance for loan losses | -92 | ' | ' | -103 | ' | ||
Total one-to-four-family residential [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 110,745 | ' | 120,942 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 40.40% | ' | 47.40% | ' | ' | ||
Total multi-family [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 10,815 | ' | 15,327 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 4.00% | ' | 6.00% | ' | ' | ||
Commercial real estate-mortgage [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 53,368 | 53,368 | 45,504 | ' | 42,328 | ||
Loans Receivable, Percentage of Total Loans | 19.50% | [1] | ' | 17.80% | 17.00% | [1] | ' |
Allowance for loan losses | -929 | ' | ' | -844 | ' | ||
Total Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 174,928 | ' | 181,773 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 63.90% | ' | 71.20% | ' | ' | ||
Real Estate Construction Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 3,581 | 3,581 | 1,931 | ' | 3,476 | ||
Loans Receivable, Percentage of Total Loans | 1.30% | [1] | ' | 0.80% | 1.40% | [1] | ' |
Allowance for loan losses | -5 | ' | ' | -5 | ' | ||
Real Estate Contruction Commercial Portfolio Segment [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 16,341 | 16,341 | 5,231 | ' | 5,795 | ||
Loans Receivable, Percentage of Total Loans | 6.00% | [1] | ' | 2.00% | 2.30% | [1] | ' |
Allowance for loan losses | -25 | ' | ' | -9 | ' | ||
Total Real Estate Construction [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 19,922 | ' | 7,162 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 7.30% | ' | 2.80% | ' | ' | ||
Home equity loan-to-value ratio of 80% or less [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 47,150 | 47,150 | 41,537 | ' | 36,903 | ||
Loans Receivable, Percentage of Total Loans | 17.20% | [1] | ' | 16.30% | 14.90% | [1] | ' |
Allowance for loan losses | -487 | ' | ' | -413 | ' | ||
Home equity loan-to-value ratio of greater than 80% [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 9,200 | 9,200 | 7,841 | ' | 8,053 | ||
Loans Receivable, Percentage of Total Loans | 3.40% | [1] | ' | 3.00% | 3.20% | [1] | ' |
Allowance for loan losses | -300 | ' | ' | -263 | ' | ||
Total Home Equity [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 56,350 | ' | 49,378 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 20.60% | ' | 19.30% | ' | ' | ||
Other Consumer Portfolio Segment [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 1,739 | 1,739 | 1,923 | ' | 1,432 | ||
Loans Receivable, Percentage of Total Loans | 0.60% | [1] | ' | 0.80% | 0.60% | [1] | ' |
Allowance for loan losses | -19 | ' | ' | -17 | ' | ||
Total consumer [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 58,089 | ' | 51,301 | ' | ' | ||
Loans Receivable, Percentage of Total Loans | 21.20% | ' | 20.10% | ' | ' | ||
Commercial Business Portfolio Segment [Member] | ' | ' | ' | ' | ' | ||
One- to four-family residential | ' | ' | ' | ' | ' | ||
Loans Receivable, Gross Amount | 20,756 | 20,756 | 15,055 | ' | 12,195 | ||
Loans Receivable, Percentage of Total Loans | 7.60% | [1] | ' | 5.90% | 4.90% | [1] | ' |
Allowance for loan losses | ($441) | ' | ' | ($194) | ' | ||
[1] | Represents percentage of loans in each category to total loans. |
Note_4_Loans_Details_Delinquen
Note 4. Loans (Details) - Delinquencies in the Loan Portfolio (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
One- to four-family residential | ' | ' |
30-59 Days Past Due | $129 | $2,437 |
60-89 Days Past Due | 1,002 | 174 |
90 Days or Greater Past Due | 1,421 | 950 |
Originated [Member] | One-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | ' | 1,052 |
60-89 Days Past Due | 576 | 138 |
90 Days or Greater Past Due | 570 | 281 |
Purchased [Member] | One-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
60-89 Days Past Due | 266 | ' |
90 Days or Greater Past Due | 238 | 595 |
Total one-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | ' | 1,052 |
60-89 Days Past Due | 842 | 138 |
90 Days or Greater Past Due | 808 | 876 |
Commercial real estate-mortgage [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 32 | 456 |
90 Days or Greater Past Due | 502 | 74 |
Total Real Estate Mortgage [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 32 | 1,508 |
60-89 Days Past Due | 842 | 138 |
90 Days or Greater Past Due | 1,310 | 950 |
Home equity loan-to-value ratio of 80% or less [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 47 | 510 |
90 Days or Greater Past Due | 16 | ' |
Home equity loan-to-value ratio of greater than 80% [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 43 | 406 |
60-89 Days Past Due | 160 | 36 |
90 Days or Greater Past Due | 82 | ' |
Total Home Equity [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 90 | 916 |
60-89 Days Past Due | 160 | 36 |
90 Days or Greater Past Due | 98 | ' |
Other Consumer Portfolio Segment [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 7 | 5 |
90 Days or Greater Past Due | 13 | ' |
Total consumer [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | 97 | 921 |
60-89 Days Past Due | 160 | 36 |
90 Days or Greater Past Due | 111 | ' |
Commercial Business Portfolio Segment [Member] | ' | ' |
One- to four-family residential | ' | ' |
30-59 Days Past Due | ' | $8 |
Note_4_Loans_Details_Nonperfor
Note 4. Loans (Details) - Nonperforming Assets (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 15 | 9 |
Nonaccrual Loans - Amount (in Dollars) | $2,815 | $2,204 |
Total nonaccrual loans and accruing loans past due 90 days or more | 15 | 9 |
Total nonaccrual loans and accruing loans past due 90 days or more (in Dollars) | 2,815 | 2,204 |
Real estate owned | 3 | 2 |
Real estate owned (in Dollars) | 505 | 146 |
Total nonperforming assets | 18 | 11 |
Total nonperforming assets (in Dollars) | 3,320 | 2,350 |
Troubled debt restructurings | ' | ' |
In nonaccrual status | 2 | 3 |
In nonaccrual status (in Dollars) | 1,139 | 1,254 |
Performing under modified terms | 7 | 7 |
Performing under modified terms (in Dollars) | 1,714 | 1,501 |
Troubled debt restructurings | 9 | 10 |
Troubled debt restructurings (in Dollars) | 2,853 | 2,755 |
Total nonperforming loans to total loans | 1.03% | 0.86% |
Total nonperforming assets to total assets | 1.03% | 0.74% |
Total nonperforming assets and troubled debt restructurings performing under modified terms to total assets | 1.56 | 1.21 |
Originated [Member] | One-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 6 | 2 |
Nonaccrual Loans - Amount (in Dollars) | 1,799 | 1,269 |
Purchased [Member] | One-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 4 | 5 |
Nonaccrual Loans - Amount (in Dollars) | 403 | 763 |
Total one-to-four-family residential [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 10 | 7 |
Nonaccrual Loans - Amount (in Dollars) | 2,202 | 2,032 |
Commercial real estate-mortgage [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 2 | 2 |
Nonaccrual Loans - Amount (in Dollars) | 502 | 172 |
Total Real Estate Mortgage [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 12 | 9 |
Nonaccrual Loans - Amount (in Dollars) | 2,704 | 2,204 |
Home equity loan-to-value ratio of less than 80% [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 1 | ' |
Nonaccrual Loans - Amount (in Dollars) | 16 | ' |
Home equity loan-to-value ratio of greater than 80% [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 1 | ' |
Nonaccrual Loans - Amount (in Dollars) | 82 | ' |
Total Home Equity [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 2 | ' |
Nonaccrual Loans - Amount (in Dollars) | 98 | ' |
Other Consumer Portfolio Segment [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 1 | ' |
Nonaccrual Loans - Amount (in Dollars) | 13 | ' |
Total consumer [Member] | ' | ' |
One- to four-family residential | ' | ' |
Nonaccrual Loans - Number of Contracts | 3 | ' |
Nonaccrual Loans - Amount (in Dollars) | $111 | ' |
Note_4_Loans_Details_Summary_o
Note 4. Loans (Details) - Summary of loans modified as TDRs (USD $) | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 |
Home equity loan-to-value ratio of 80% or less [Member] | Originated [Member] | Purchased [Member] | In Nonaccrual Status [Member] | Performing Under Modified Terms [Member] | |
Performing Under Modified Terms [Member] | In Nonaccrual Status [Member] | In Nonaccrual Status [Member] | |||
Consumer: | ' | ' | ' | ' | ' |
Number of Contracts | 1 | 1 | 1 | 2 | 1 |
Pre- Modification Outstanding Recorded Investment | $373 | $993 | $168 | $1,161 | $373 |
Post- Modification Outstanding Recorded Investment | $276 | $993 | $168 | $1,161 | $276 |
Note_4_Loans_Details_Impaired_
Note 4. Loans (Details) - Impaired Loans (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans, Recorded Investment | $4,636,000 | $4,552,000 |
Impaired loans, Unpaid Principal Balance | 4,636,000 | 4,864,000 |
Impaired loans, Average Recorded Investment | 4,681,000 | 4,983,000 |
Impaired loans, Interest Income Recognized | 174,000 | 195,000 |
Originated [Member] | One-to-four-family residential [Member] | ' | ' |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans with no related allowance recorded, Recorded Investment | 1,510,000 | ' |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 1,510,000 | ' |
Impaired loans with no related allowance recorded, Average Recorded Investment | 1,518,000 | ' |
Impaired loans with no related allowance recorded, Interest Income Recognized | 52,000 | ' |
Impaired loans, Recorded Investment | ' | 1,528,000 |
Impaired loans, Unpaid Principal Balance | ' | 1,528,000 |
Impaired loans, Average Recorded Investment | ' | 1,625,000 |
Impaired loans, Interest Income Recognized | ' | 16,000 |
Purchased [Member] | One-to-four-family residential [Member] | ' | ' |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans, Recorded Investment | ' | 309,000 |
Impaired loans, Unpaid Principal Balance | ' | 509,000 |
Impaired loans, Average Recorded Investment | ' | 411,000 |
Impaired loans, Interest Income Recognized | ' | 2,000 |
Commercial real estate-mortgage [Member] | ' | ' |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans with no related allowance recorded, Recorded Investment | 2,718,000 | ' |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 2,718,000 | ' |
Impaired loans with no related allowance recorded, Average Recorded Investment | 2,753,000 | ' |
Impaired loans with no related allowance recorded, Interest Income Recognized | 116,000 | ' |
Impaired loans, Recorded Investment | ' | 2,571,000 |
Impaired loans, Unpaid Principal Balance | ' | 2,683,000 |
Impaired loans, Average Recorded Investment | ' | 2,799,000 |
Impaired loans, Interest Income Recognized | ' | 168,000 |
Home equity loan-to-value ratio of 80% or less [Member] | ' | ' |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans with no related allowance recorded, Recorded Investment | 408,000 | ' |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 408,000 | ' |
Impaired loans with no related allowance recorded, Average Recorded Investment | 410,000 | ' |
Impaired loans with no related allowance recorded, Interest Income Recognized | 6,000 | ' |
Impaired loans, Recorded Investment | ' | 136,000 |
Impaired loans, Unpaid Principal Balance | ' | 136,000 |
Impaired loans, Average Recorded Investment | ' | 138,000 |
Impaired loans, Interest Income Recognized | ' | 9,000 |
Other Consumer Portfolio Segment [Member] | ' | ' |
Impaired loans with no related allowance recorded | ' | ' |
Impaired loans, Recorded Investment | ' | 8,000 |
Impaired loans, Unpaid Principal Balance | ' | 8,000 |
Impaired loans, Average Recorded Investment | ' | $10,000 |
Note_4_Loans_Details_Activity_
Note 4. Loans (Details) - Activity in the Allowance for Loan Losses (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | $273,695 | $248,769 | $255,291 | ' | $273,695 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 2,990 | 2,988 | 2,886 | 3,098 | ' | ' | ||||
Charge-offs | ' | -1 | -80 | -322 | ' | ' | ||||
Recoveries | 3 | 4 | 22 | 5 | ' | ' | ||||
Provision | 200 | 100 | 365 | 310 | ' | ' | ||||
Allowance for loans losses, end of period | 3,193 | 3,091 | 3,193 | 3,091 | ' | ' | ||||
Individually evaluated for impairment | ' | 200 | ' | 200 | ' | ' | ||||
Collectively evaluated on historical loss experience | 626 | 696 | 626 | 696 | ' | ' | ||||
Collectively evaluated on qualitative factors | 2,449 | 2,071 | 2,449 | 2,071 | ' | ' | ||||
Unallocated | 118 | 124 | 118 | 124 | ' | ' | ||||
Total allowance for loan losses | 3,193 | 3,091 | 3,193 | 3,091 | ' | 2,886 | ||||
Percent of Allowance | 100.00% | 100.00% | 100.00% | 100.00% | ' | ' | ||||
Percent of Loans (1) | 100.00% | [1] | 100.00% | [1] | 100.00% | [1] | 100.00% | [1] | ' | 100.00% |
Originated [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 103,170 | 111,780 | 110,754 | ' | 103,170 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 457 | 497 | 466 | 534 | ' | ' | ||||
Charge-offs | ' | ' | -12 | -115 | ' | ' | ||||
Recoveries | 3 | 2 | 9 | 2 | ' | ' | ||||
Provision | 2 | -4 | -1 | 74 | ' | ' | ||||
Allowance for loans losses, end of period | 462 | 495 | 462 | 495 | ' | ' | ||||
Collectively evaluated on historical loss experience | 128 | 146 | 128 | 146 | ' | ' | ||||
Collectively evaluated on qualitative factors | 334 | 349 | 334 | 349 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 462 | 495 | 462 | 495 | ' | ' | ||||
Percent of Allowance | 14.50% | 16.00% | 14.50% | 16.00% | ' | ' | ||||
Percent of Loans (1) | 37.70% | [1] | 44.90% | [1] | 37.70% | [1] | 44.90% | [1] | ' | 43.40% |
Originated [Member] | Multi-family [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 7,016 | 11,207 | 11,101 | ' | 7,016 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 32 | 36 | 33 | 39 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | -11 | -2 | -12 | -5 | ' | ' | ||||
Allowance for loans losses, end of period | 21 | 34 | 21 | 34 | ' | ' | ||||
Collectively evaluated on historical loss experience | 0 | 0 | 0 | 0 | ' | ' | ||||
Collectively evaluated on qualitative factors | 21 | 34 | 21 | 34 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 21 | 34 | 21 | 34 | ' | ' | ||||
Percent of Allowance | 0.60% | 1.10% | 0.60% | 1.10% | ' | ' | ||||
Percent of Loans (1) | 2.60% | [1] | 4.50% | [1] | 2.60% | [1] | 4.50% | [1] | ' | 4.30% |
Purchased [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 7,575 | 11,343 | 10,188 | ' | 7,575 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 300 | 526 | 372 | 465 | ' | ' | ||||
Charge-offs | ' | ' | -33 | -109 | ' | ' | ||||
Recoveries | 0 | 0 | ' | 0 | ' | ' | ||||
Provision | -6 | 64 | -45 | 234 | ' | ' | ||||
Allowance for loans losses, end of period | 294 | 590 | 294 | 590 | ' | ' | ||||
Individually evaluated for impairment | ' | 200 | ' | 200 | ' | ' | ||||
Collectively evaluated on historical loss experience | 127 | 170 | 127 | 170 | ' | ' | ||||
Collectively evaluated on qualitative factors | 167 | 220 | 167 | 220 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 294 | 590 | 294 | 590 | ' | ' | ||||
Percent of Allowance | 9.20% | 19.10% | 9.20% | 19.10% | ' | ' | ||||
Percent of Loans (1) | 2.70% | [1] | 4.60% | [1] | 2.70% | [1] | 4.60% | [1] | ' | 4.00% |
Purchased [Member] | Multi-family [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 3,799 | 4,257 | 4,226 | ' | 3,799 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 93 | 122 | 102 | 124 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | -1 | -19 | -10 | -21 | ' | ' | ||||
Allowance for loans losses, end of period | 92 | 103 | 92 | 103 | ' | ' | ||||
Collectively evaluated on historical loss experience | 58 | 65 | 58 | 65 | ' | ' | ||||
Collectively evaluated on qualitative factors | 34 | 38 | 34 | 38 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 92 | 103 | 92 | 103 | ' | ' | ||||
Percent of Allowance | 2.90% | 3.30% | 2.90% | 3.30% | ' | ' | ||||
Percent of Loans (1) | 1.40% | [1] | 1.70% | [1] | 1.40% | [1] | 1.70% | [1] | ' | 1.70% |
Commercial real estate-mortgage [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 53,368 | 42,328 | 45,504 | ' | 53,368 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 853 | 788 | 802 | 858 | ' | ' | ||||
Charge-offs | 0 | ' | ' | -33 | ' | ' | ||||
Recoveries | ' | 1 | 9 | 1 | ' | ' | ||||
Provision | 76 | 55 | 118 | 18 | ' | ' | ||||
Allowance for loans losses, end of period | 929 | 844 | 929 | 844 | ' | ' | ||||
Collectively evaluated on historical loss experience | 106 | 109 | 106 | 109 | ' | ' | ||||
Collectively evaluated on qualitative factors | 823 | 735 | 823 | 735 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 929 | 844 | 929 | 844 | ' | ' | ||||
Percent of Allowance | 29.10% | 27.30% | 29.10% | 27.30% | ' | ' | ||||
Percent of Loans (1) | 19.50% | [1] | 17.00% | [1] | 19.50% | [1] | 17.00% | [1] | ' | 17.80% |
Real Estate Construction Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 3,581 | 3,476 | 1,931 | ' | 3,581 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 3 | 5 | 3 | 6 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | 2 | 0 | 2 | -1 | ' | ' | ||||
Allowance for loans losses, end of period | 5 | 5 | 5 | 5 | ' | ' | ||||
Collectively evaluated on historical loss experience | 0 | 0 | 0 | 0 | ' | ' | ||||
Collectively evaluated on qualitative factors | 5 | 5 | 5 | 5 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 5 | 5 | 5 | 5 | ' | ' | ||||
Percent of Allowance | 0.20% | 0.20% | 0.20% | 0.20% | ' | ' | ||||
Percent of Loans (1) | 1.30% | [1] | 1.40% | [1] | 1.30% | [1] | 1.40% | [1] | ' | 0.80% |
Real Estate Contruction Commercial Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 16,341 | 5,795 | 5,231 | ' | 16,341 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 23 | 9 | 8 | 12 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | 2 | ' | 17 | -3 | ' | ' | ||||
Allowance for loans losses, end of period | 25 | 9 | 25 | 9 | ' | ' | ||||
Collectively evaluated on historical loss experience | 0 | 0 | 0 | 0 | ' | ' | ||||
Collectively evaluated on qualitative factors | 25 | 9 | 25 | 9 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 25 | 9 | 25 | 9 | ' | ' | ||||
Percent of Allowance | 0.70% | 0.30% | 0.70% | 0.30% | ' | ' | ||||
Percent of Loans (1) | 6.00% | [1] | 2.30% | [1] | 6.00% | [1] | 2.30% | [1] | ' | 2.00% |
Home equity loan-to-value ratio of 80% or less [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 47,150 | 36,903 | 41,537 | ' | 47,150 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 475 | 414 | 434 | 379 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | 12 | -1 | 53 | 34 | ' | ' | ||||
Allowance for loans losses, end of period | 487 | 413 | 487 | 413 | ' | ' | ||||
Collectively evaluated on historical loss experience | 67 | 82 | 67 | 82 | ' | ' | ||||
Collectively evaluated on qualitative factors | 420 | 331 | 420 | 331 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 487 | 413 | 487 | 413 | ' | ' | ||||
Percent of Allowance | 15.30% | 13.40% | 15.30% | 13.40% | ' | ' | ||||
Percent of Loans (1) | 17.20% | [1] | 14.90% | [1] | 17.20% | [1] | 14.90% | [1] | ' | 16.30% |
Home equity loan-to-value ratio of greater than 80% [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 9,200 | 8,053 | 7,841 | ' | 9,200 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 284 | 263 | 246 | 267 | ' | ' | ||||
Charge-offs | ' | ' | -35 | -49 | ' | ' | ||||
Recoveries | ' | 1 | 1 | 2 | ' | ' | ||||
Provision | 16 | -1 | 88 | 43 | ' | ' | ||||
Allowance for loans losses, end of period | 300 | 263 | 300 | 263 | ' | ' | ||||
Collectively evaluated on historical loss experience | 115 | 110 | 115 | 110 | ' | ' | ||||
Collectively evaluated on qualitative factors | 185 | 153 | 185 | 153 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 300 | 263 | 300 | 263 | ' | ' | ||||
Percent of Allowance | 9.40% | 8.50% | 9.40% | 8.50% | ' | ' | ||||
Percent of Loans (1) | 3.40% | [1] | 3.20% | [1] | 3.40% | [1] | 3.20% | [1] | ' | 3.00% |
Other Consumer Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 1,739 | 1,432 | 1,923 | ' | 1,739 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 18 | 17 | 19 | 24 | ' | ' | ||||
Charge-offs | ' | -1 | ' | -1 | ' | ' | ||||
Recoveries | 0 | ' | 3 | 0 | ' | ' | ||||
Provision | 1 | 1 | -3 | -6 | ' | ' | ||||
Allowance for loans losses, end of period | 19 | 17 | 19 | 17 | ' | ' | ||||
Collectively evaluated on historical loss experience | 13 | 12 | 13 | 12 | ' | ' | ||||
Collectively evaluated on qualitative factors | 6 | 5 | 6 | 5 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 19 | 17 | 19 | 17 | ' | ' | ||||
Percent of Allowance | 0.60% | 0.50% | 0.60% | 0.50% | ' | ' | ||||
Percent of Loans (1) | 0.60% | [1] | 0.60% | [1] | 0.60% | [1] | 0.60% | [1] | ' | 0.80% |
Commercial Business Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Loan Balance | 20,756 | 12,195 | 15,055 | ' | 20,756 | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 285 | 172 | 245 | 242 | ' | ' | ||||
Charge-offs | 0 | ' | ' | -15 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | 156 | 22 | 196 | -33 | ' | ' | ||||
Allowance for loans losses, end of period | 441 | 194 | 441 | 194 | ' | ' | ||||
Collectively evaluated on historical loss experience | 12 | 2 | 12 | 2 | ' | ' | ||||
Collectively evaluated on qualitative factors | 429 | 192 | 429 | 192 | ' | ' | ||||
Unallocated | 0 | 0 | 0 | 0 | ' | ' | ||||
Total allowance for loan losses | 441 | 194 | 441 | 194 | ' | ' | ||||
Percent of Allowance | 13.80% | 6.30% | 13.80% | 6.30% | ' | ' | ||||
Percent of Loans (1) | 7.60% | [1] | 4.90% | [1] | 7.60% | [1] | 4.90% | [1] | ' | 5.90% |
Unallocated [Member] | ' | ' | ' | ' | ' | ' | ||||
Allowance for loan losses: | ' | ' | ' | ' | ' | ' | ||||
Allowance for loans losses, start of period | 167 | 139 | 156 | 148 | ' | ' | ||||
Charge-offs | 0 | 0 | 0 | 0 | ' | ' | ||||
Recoveries | 0 | 0 | 0 | 0 | ' | ' | ||||
Provision | -49 | -15 | -38 | -24 | ' | ' | ||||
Allowance for loans losses, end of period | 118 | 124 | 118 | 124 | ' | ' | ||||
Collectively evaluated on historical loss experience | 0 | 0 | 0 | 0 | ' | ' | ||||
Collectively evaluated on qualitative factors | 0 | 0 | 0 | 0 | ' | ' | ||||
Unallocated | 118 | 124 | 118 | 124 | ' | ' | ||||
Total allowance for loan losses | $118 | $124 | $118 | $124 | ' | ' | ||||
Percent of Allowance | 3.70% | 4.00% | 3.70% | 4.00% | ' | ' | ||||
[1] | Represents percentage of loans in each category to total loans. |
Note_4_Loans_Details_Credit_Qu
Note 4. Loans (Details) - Credit Quality Information (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||||
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | $273,695 | $273,695 | $255,291 | $248,769 |
Originated [Member] | One-to-four-family residential [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 101,371 | ' | 109,226 | ' |
Originated [Member] | One-to-four-family residential [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 1,799 | ' | 1,528 | ' |
Originated [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 103,170 | 103,170 | 110,754 | 111,780 |
Originated [Member] | Multi-family [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 7,016 | ' | 11,101 | ' |
Originated [Member] | Multi-family [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 7,016 | 7,016 | 11,101 | 11,207 |
Purchased [Member] | One-to-four-family residential [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 7,172 | ' | 9,425 | ' |
Purchased [Member] | One-to-four-family residential [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 403 | ' | 763 | ' |
Purchased [Member] | One-to-four-family residential [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 7,575 | 7,575 | 10,188 | 11,343 |
Purchased [Member] | Multi-family [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 3,799 | ' | 4,226 | ' |
Purchased [Member] | Multi-family [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 3,799 | 3,799 | 4,226 | 4,257 |
Commercial real estate-mortgage [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 50,104 | ' | 42,243 | ' |
Commercial real estate-mortgage [Member] | Special Mention [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 334 | ' | 443 | ' |
Commercial real estate-mortgage [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 2,930 | ' | 2,818 | ' |
Commercial real estate-mortgage [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 53,368 | 53,368 | 45,504 | 42,328 |
Real Estate Construction Residential Portfolio Segment [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 3,581 | ' | 1,931 | ' |
Real Estate Construction Residential Portfolio Segment [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 3,581 | 3,581 | 1,931 | 3,476 |
Real Estate Contruction Commercial Portfolio Segment [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 16,341 | ' | 5,231 | ' |
Real Estate Contruction Commercial Portfolio Segment [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 16,341 | 16,341 | 5,231 | 5,795 |
Home equity loan-to-value ratio of 80% or less [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 46,726 | ' | 41,401 | ' |
Home equity loan-to-value ratio of 80% or less [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 424 | ' | 136 | ' |
Home equity loan-to-value ratio of 80% or less [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 47,150 | 47,150 | 41,537 | 36,903 |
Home equity loan-to-value ratio of greater than 80% [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 9,118 | ' | 7,841 | ' |
Home equity loan-to-value ratio of greater than 80% [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 82 | ' | ' | ' |
Home equity loan-to-value ratio of greater than 80% [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 9,200 | 9,200 | 7,841 | 8,053 |
Other Consumer Portfolio Segment [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 1,726 | ' | 1,915 | ' |
Other Consumer Portfolio Segment [Member] | Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 13 | ' | 8 | ' |
Other Consumer Portfolio Segment [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 1,739 | 1,739 | 1,923 | 1,432 |
Commercial Business Portfolio Segment [Member] | Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 18,602 | ' | 14,990 | ' |
Commercial Business Portfolio Segment [Member] | Special Mention [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 2,154 | ' | 65 | ' |
Commercial Business Portfolio Segment [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 20,756 | 20,756 | 15,055 | 12,195 |
Pass [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 265,556 | ' | 249,530 | ' |
Special Mention [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | 2,488 | ' | 508 | ' |
Substandard [Member] | ' | ' | ' | ' |
Grade: | ' | ' | ' | ' |
Loan Receivable, Gross | $5,651 | ' | $5,253 | ' |
Note_5_Deposits_Details_Deposi
Note 5. Deposits (Details) - Deposits (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Noninterest-bearing demand deposits (in Dollars) | $29,495 | $23,987 |
Noninterest-bearing demand deposits | 13.10% | 11.20% |
Interest-bearing demand deposits (in Dollars) | 32,176 | 17,878 |
Interest-bearing demand deposits | 14.30% | 8.40% |
Savings accounts (in Dollars) | 24,816 | 24,271 |
Savings accounts | 11.00% | 11.30% |
Money market accounts (in Dollars) | 49,477 | 55,047 |
Money market accounts | 22.00% | 25.70% |
Certificates of deposit (in Dollars) | 88,904 | 92,874 |
Certificates of deposit | 39.60% | 43.40% |
Total deposits (in Dollars) | $224,868 | $214,057 |
Total deposits | 100.00% | 100.00% |
Note_6_Borrowings_Details
Note 6. Borrowings (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Borrowings, Fair Value Disclosure | $42.80 | $49.10 |
Advances from Federal Home Loan Banks | 39.8 | 46.1 |
Secured Debt, Repurchase Agreements | $3 | $3 |
Note_6_Borrowings_Details_Borr
Note 6. Borrowings (Details) - Borrowings Based on their Stated Maturities and Weighted Average Rate (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Borrowings Based on their Stated Maturities and Weighted Average Rate [Abstract] | ' | ' |
Due in one year or less | $25,812 | $19,120 |
Due in one year or less | 2.51% | 1.52% |
Due in one to two years | 17,000 | 18,000 |
Due in one to two years | 3.56% | 3.41% |
Due in two to three years | ' | 12,000 |
Due in two to three years | ' | 3.82% |
Advances | 42,812 | 49,120 |
Less: deferred premium on modification | -312 | -442 |
Total advances | $42,500 | $48,678 |
Total advances | 2.93% | 2.77% |
Note_6_Borrowings_Details_Borr1
Note 6. Borrowings (Details) - Borrowings (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Borrowings [Abstract] | ' | ' |
Maximum amount outstanding at any month end during the period | $44,020 | $48,873 |
Average amount outstanding during the period | $37,822 | $44,348 |
Weighted average rate during the period | 3.41% | 3.66% |
Note_7_Earnings_Per_Share_Deta
Note 7. Earnings Per Share (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Stock Option [Member] | Employee Stock Option [Member] | |||
Note 7. Earnings Per Share (Details) [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | 139,036 | 218,017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $16.46 | $16.07 | $19.95 | $16.39 |
Note_7_Earnings_Per_Share_Deta1
Note 7. Earnings Per Share (Details) - Basic and Diluted Earnings per Common Share (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic and Diluted Earnings per Common Share [Abstract] | ' | ' | ' | ' |
Net income of FedFirst Financial Corporation (in Dollars) | $463 | $649 | $1,833 | $1,699 |
Weighted-average shares outstanding: | ' | ' | ' | ' |
Basic | 2,373,378 | 2,867,983 | 2,428,692 | 2,836,388 |
Effect of dilutive stock options and restrictive stock awards | 34,020 | 3,330 | 31,407 | 3,189 |
Diluted | 2,407,398 | 2,871,313 | 2,460,099 | 2,839,577 |
Earnings per share: | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.20 | $0.23 | $0.75 | $0.60 |
Diluted (in Dollars per share) | $0.19 | $0.23 | $0.75 | $0.60 |
Note_8_Fair_Value_Measurements2
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) [Line Items] | ' | ' |
Securities available-for-sale | $28,969,000 | $42,582,000 |
Fair Value Inputs, Discount Rate (in Basis Points) | 3.00% | ' |
Impaired Financing Receivable, Unpaid Principal Balance | 4,636,000 | 4,864,000 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) [Line Items] | ' | ' |
Securities available-for-sale | 3,508,000 | 1,882,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) [Line Items] | ' | ' |
Securities available-for-sale | 3,508,000 | 1,882,000 |
Minimum [Member] | ' | ' |
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance | $250,000 | ' |
Note_8_Fair_Value_Measurements3
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Financial Assets Measured at Fair Value on a Recurring Basis (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | $28,969 | $42,582 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 8,043 | 9,181 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 8,876 | 12,815 |
REMIC [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 8,542 | 18,700 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | ' | 4 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 3,508 | 1,882 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 28,969 | 42,582 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | 25,461 | 40,700 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Significant other observable inputs (Level 2) | ' | ' |
Available for Sale Securities | $3,508 | $1,882 |
Note_8_Fair_Value_Measurements4
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Unobservable Input Reconciliation (USD $) | 9 Months Ended | 12 Months Ended | 21 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Unobservable Input Reconciliation [Abstract] | ' | ' | ' |
Balance as of | $1,882 | $1,486 | $1,486 |
Net transfers out of level 3 | ' | -18 | ' |
Discount accretion | 1 | ' | ' |
Total unrealized gains | 1,625 | 428 | 1,625 |
Paydowns and maturities | ' | -14 | ' |
Balance as of | $3,508 | $1,882 | $3,508 |
Note_8_Fair_Value_Measurements5
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Unrealized Gain on Assets Still Held (USD $) | 9 Months Ended | 12 Months Ended | 21 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Unrealized Gain on Assets Still Held [Abstract] | ' | ' | ' |
The change in unrealized gains for the period included in comprehensive income for assets held at the end of the reporting period | $1,625 | $428 | $1,625 |
Note_8_Fair_Value_Measurements6
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Financial Assets Measured at Fair Value on a Nonrecurring Basis (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Level 3 | ' | ' |
Total assets measured at fair value on a nonrecurring basis | $322,513 | $318,760 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Level 3 | ' | ' |
Impaired loans | 592 | 4,552 |
Real estate owned | 465 | 146 |
Total assets measured at fair value on a nonrecurring basis | 1,057 | 4,698 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Level 3 | ' | ' |
Impaired loans | 592 | 4,552 |
Real estate owned | 465 | 146 |
Total assets measured at fair value on a nonrecurring basis | $1,057 | $4,698 |
Note_8_Fair_Value_Measurements7
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Significant Unobservable Inputs for Assets Measured on a Recurring Basis (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Recurring basis | ' | ' | ' | ' | ' | ' |
Corporate debt (in Dollars) | $3,508 | $1,882 | $1,486 | $3,508 | ' | ' |
Corporate debt | ' | ' | ' | 'Discounted cash flow | 'Appraisal value | ' |
Corporate debt | ' | ' | ' | 2.19% | ' | ' |
' | ' | ' | 50.00% | ' | ' | |
' | ' | ' | 0.00% | ' | ' | |
' | ' | ' | 0.00% | ' | ' | |
Nonrecurring basis | ' | ' | ' | ' | ' | ' |
Impaired loans (in Dollars) | ' | ' | ' | ' | 592 | 4,552 |
Impaired loans | ' | ' | ' | 'Discounted cash flow | 'Appraisal value | ' |
Impaired loans | ' | ' | ' | ' | '10-20% | ' |
Real estate owned (in Dollars) | ' | ' | ' | ' | $465 | $146 |
Real estate owned | ' | ' | ' | 'Discounted cash flow | 'Appraisal value | ' |
Real estate owned | ' | ' | ' | ' | '10-20% | ' |
Note_8_Fair_Value_Measurements8
Note 8. Fair Value Measurements and Fair Values of Financial Instruments (Details) - Carrying Amount and Estimated Fair Value of Financial Instruments (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $14,089 | $5,874 | $10,517 | $14,571 |
Securities available-for-sale | 28,969 | 42,582 | ' | ' |
Securities available-for-sale | 28,969 | 42,582 | ' | ' |
Loans, net | 261,737 | 249,530 | ' | ' |
FHLB stock | 2,264 | 3,787 | ' | ' |
Accrued interest receivable | 1,008 | 1,035 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 224,868 | 214,057 | ' | ' |
Borrowings | 42,500 | 48,678 | ' | ' |
Accrued interest payable | 251 | 302 | ' | ' |
Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 14,089 | 5,874 | ' | ' |
Securities available-for-sale | 28,969 | 42,582 | ' | ' |
Securities available-for-sale | 28,969 | 42,582 | ' | ' |
Loans, net | 266,231 | 260,538 | ' | ' |
FHLB stock | 2,264 | 3,787 | ' | ' |
Accrued interest receivable | 1,008 | 1,035 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 225,192 | 215,863 | ' | ' |
Borrowings | 43,584 | 50,347 | ' | ' |
Accrued interest payable | 251 | 302 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 14,089 | 5,874 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Securities available-for-sale | 25,461 | 40,700 | ' | ' |
Securities available-for-sale | 25,461 | 40,700 | ' | ' |
FHLB stock | 2,264 | 3,787 | ' | ' |
Accrued interest receivable | 1,008 | 1,035 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 225,192 | 215,863 | ' | ' |
Borrowings | 43,584 | 50,347 | ' | ' |
Accrued interest payable | 251 | 302 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Securities available-for-sale | 3,508 | 1,882 | ' | ' |
Securities available-for-sale | 3,508 | 1,882 | ' | ' |
Loans, net | $266,231 | $260,538 | ' | ' |
Note_9_Other_Comprehensive_Inc2
Note 9. Other Comprehensive Income (Loss) (Details) - Other Comprehensive Income (Loss) and the Related Tax Effects (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other comprehensive income: | ' | ' | ' | ' |
Before Income Tax (Benefit) Expense | $799 | $224 | $800 | $54 |
Income Tax (Benefit) Expense | 313 | 88 | 314 | 21 |
Net of Income Tax (Benefit) Expense | $486 | $136 | $486 | $33 |
Note_10_Segment_Reporting_Deta
Note 10. Segment Reporting (Details) (Exchange Underwriters Inc [Member]) | Sep. 30, 2013 |
Exchange Underwriters Inc [Member] | ' |
Note 10. Segment Reporting (Details) [Line Items] | ' |
Equity Method Investment, Ownership Percentage | 80.00% |
Note_10_Segment_Reporting_Deta1
Note 10. Segment Reporting (Details) - Selected Financial data for the Subsidiaries and Consolidated Results (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Assets | $322,513 | ' | $322,513 | ' | $318,760 | ' |
Liabilities | 269,249 | ' | 269,249 | ' | 265,466 | ' |
Stockholdersb equity | 53,264 | 58,864 | 53,264 | 58,864 | 53,294 | 58,801 |
Total interest income | 3,155 | 3,500 | 9,681 | 10,609 | ' | ' |
Total interest expense | 658 | 851 | 2,053 | 2,871 | ' | ' |
Net interest income | 2,497 | 2,649 | 7,628 | 7,738 | ' | ' |
Provision for loan losses | 200 | 100 | 365 | 310 | ' | ' |
Net interest income after provision for loan losses | 2,297 | 2,549 | 7,263 | 7,428 | ' | ' |
Noninterest income | 1,008 | 830 | 3,361 | 2,543 | ' | ' |
Noninterest expense | 2,551 | 2,379 | 7,755 | 7,300 | ' | ' |
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 754 | 1,000 | 2,869 | 2,671 | ' | ' |
Income tax expense (benefit) | 273 | 346 | 966 | 946 | ' | ' |
Net income before noncontrolling interest in net income of consolidated subsidiary | 481 | 654 | 1,903 | 1,725 | ' | ' |
Less: Noncontrolling interest in net income of consolidated subsidiary | 18 | 5 | 70 | 26 | ' | ' |
Net income of FedFirst Financial Corporation | 463 | 649 | 1,833 | 1,699 | ' | ' |
First Federal Savings Bank [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Assets | 322,826 | ' | 322,826 | ' | 318,576 | ' |
Liabilities | 274,858 | ' | 274,858 | ' | 273,186 | ' |
Stockholdersb equity | 47,968 | ' | 47,968 | ' | 45,390 | ' |
Total interest income | 3,155 | 3,500 | 9,681 | 10,608 | ' | ' |
Total interest expense | 679 | 874 | 2,116 | 2,941 | ' | ' |
Net interest income | 2,476 | 2,626 | 7,565 | 7,667 | ' | ' |
Provision for loan losses | 200 | 100 | 365 | 310 | ' | ' |
Net interest income after provision for loan losses | 2,276 | 2,526 | 7,200 | 7,357 | ' | ' |
Noninterest income | 253 | 268 | 856 | 796 | ' | ' |
Noninterest expense | 1,893 | 1,812 | 5,641 | 5,529 | ' | ' |
Undistributed net gain of subsidiary | 88 | 26 | 349 | 132 | ' | ' |
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 724 | 1,008 | 2,764 | 2,756 | ' | ' |
Income tax expense (benefit) | 217 | 335 | 761 | 905 | ' | ' |
Net income before noncontrolling interest in net income of consolidated subsidiary | 507 | 673 | 2,003 | 1,851 | ' | ' |
Less: Noncontrolling interest in net income of consolidated subsidiary | 18 | 5 | 70 | 26 | ' | ' |
Net income of FedFirst Financial Corporation | 489 | 668 | 1,933 | 1,825 | ' | ' |
Exchange Underwriters Inc [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Assets | 1,306 | ' | 1,306 | ' | 1,034 | ' |
Liabilities | 482 | ' | 482 | ' | 401 | ' |
Stockholdersb equity | 824 | ' | 824 | ' | 633 | ' |
Total interest income | ' | ' | ' | 1 | ' | ' |
Net interest income | ' | ' | ' | 1 | ' | ' |
Net interest income after provision for loan losses | ' | ' | ' | 1 | ' | ' |
Noninterest income | 755 | 562 | 2,505 | 1,747 | ' | ' |
Noninterest expense | 598 | 515 | 1,900 | 1,510 | ' | ' |
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 157 | 47 | 605 | 238 | ' | ' |
Income tax expense (benefit) | 69 | 21 | 256 | 106 | ' | ' |
Net income before noncontrolling interest in net income of consolidated subsidiary | 88 | 26 | 349 | 132 | ' | ' |
Net income of FedFirst Financial Corporation | 88 | 26 | 349 | 132 | ' | ' |
FedFirst Financial Corporation [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Assets | 53,198 | ' | 53,198 | ' | 53,264 | ' |
Liabilities | 32 | ' | 32 | ' | 30 | ' |
Stockholdersb equity | 53,166 | ' | 53,166 | ' | 53,234 | ' |
Total interest income | 21 | 23 | 63 | 70 | ' | ' |
Net interest income | 21 | 23 | 63 | 70 | ' | ' |
Net interest income after provision for loan losses | 21 | 23 | 63 | 70 | ' | ' |
Noninterest expense | 60 | 52 | 214 | 261 | ' | ' |
Undistributed net gain of subsidiary | 489 | 668 | 1,933 | 1,825 | ' | ' |
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | 450 | 639 | 1,782 | 1,634 | ' | ' |
Income tax expense (benefit) | -13 | -10 | -51 | -65 | ' | ' |
Net income before noncontrolling interest in net income of consolidated subsidiary | 463 | 649 | 1,833 | 1,699 | ' | ' |
Net income of FedFirst Financial Corporation | 463 | 649 | 1,833 | 1,699 | ' | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' |
Assets | -54,817 | ' | -54,817 | ' | -54,114 | ' |
Liabilities | -6,123 | ' | -6,123 | ' | -8,151 | ' |
Stockholdersb equity | -48,694 | ' | -48,694 | ' | -45,963 | ' |
Total interest income | -21 | -23 | -63 | -70 | ' | ' |
Total interest expense | -21 | -23 | -63 | -70 | ' | ' |
Undistributed net gain of subsidiary | -577 | -694 | -2,282 | -1,957 | ' | ' |
Income before income tax expense (benefit) and noncontrolling interest in net income of consolidated subsidiary | -577 | -694 | -2,282 | -1,957 | ' | ' |
Net income before noncontrolling interest in net income of consolidated subsidiary | -577 | -694 | -2,282 | -1,957 | ' | ' |
Net income of FedFirst Financial Corporation | ($577) | ($694) | ($2,282) | ($1,957) | ' | ' |
Note_11_Stock_Based_Compensati2
Note 11. Stock Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 02, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 02, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Shares and Options [Member] | Stock Based Compensation2006 Plan [Member] | Stock Based Compensation2011 Plan [Member] | ||||||
Stock Based Compensation2006 Plan [Member] | Stock Based Compensation2011 Plan [Member] | Stock Based Compensation2006 Plan [Member] | Stock Based Compensation2011 Plan [Member] | ||||||||||
Note 11. Stock Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | 153,419 | 145,870 | ' | 61,367 | 58,348 | ' | 214,787 | 204,218 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period, Percentage Per Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' |
Share-based Compensation (in Dollars) | $68,000 | $39,000 | $190,000 | $108,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | $990,000 | ' | $990,000 | ' | $644,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_Stock_Based_Compensati3
Note 11. Stock Based Compensation (Details) - Restricted Stock (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Apr. 02, 2013 |
Restricted Stock [Abstract] | ' | ' |
Number of restricted shares granted (in Shares) | ' | 14,750 |
Number of stock options granted (in Shares) | 74,170 | 74,170 |
Grant date common stock price (in Dollars per share) | ' | $17.65 |
Restricted shares market value before tax (in Dollars) | ' | $260 |
Stock options market value before tax (in Dollars) | ' | $277 |
Stock option pricing assumptions: | ' | ' |
Expected life in years | ' | '7 years |
Expected dividend yield | ' | 0.91% |
Risk-free interest rate | ' | 0.82% |
Expected volatility | ' | 21.80% |
Weighted average grant date fair value (in Dollars per share) | ' | $3.73 |
Note_11_Stock_Based_Compensati4
Note 11. Stock Based Compensation (Details) - Stock Options (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Apr. 02, 2013 | Dec. 31, 2012 | |
Stock Options [Abstract] | ' | ' | ' |
Number of Shares | 296,922 | ' | 225,119 |
Weighted Average Exercise Price (in Dollars per share) | $16.46 | ' | $16.07 |
Weighted Average Remaining Term | '7 years 109 days | ' | '7 years 105 days |
Granted | 74,170 | 74,170 | ' |
Granted (in Dollars per share) | $17.65 | ' | ' |
Exercised or converted | -379 | ' | ' |
Exercised or converted (in Dollars per share) | $14.15 | ' | ' |
Forfeited | -283 | ' | ' |
Forfeited (in Dollars per share) | $14.15 | ' | ' |
Expired | -1,705 | ' | ' |
Expired (in Dollars per share) | $16.85 | ' | ' |
Exercisable at September 30, 2013 | 121,532 | ' | ' |
Exercisable at September 30, 2013 (in Dollars per share) | $17.55 | ' | ' |
Exercisable at September 30, 2013 | '4 years 328 days | ' | ' |
Note_11_Stock_Based_Compensati5
Note 11. Stock Based Compensation (Details) - Nonvested Stock Activity (USD $) | 9 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Apr. 02, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |||
Note 11. Stock Based Compensation (Details) - Nonvested Stock Activity [Line Items] | ' | ' | ' | ' | ' | ' |
Number of Shares, Stock Options | ' | ' | 175,390 | 133,075 | ' | ' |
Fair-Value Price, Stock Options (in Dollars per share) | ' | ' | $3.37 | $3.17 | ' | ' |
Number of Shares, Restricted Stock Awards | ' | ' | ' | ' | 31,215 | 22,552 |
Fair-Value Price, Restricted Stock Awards (in Dollars per share) | ' | ' | ' | ' | $15.71 | $13.88 |
Granted | 74,170 | 74,170 | 74,170 | ' | ' | ' |
Granted (in Dollars per share) | $17.65 | ' | $3.73 | ' | ' | ' |
Granted | ' | 14,750 | ' | ' | 14,750 | ' |
Granted (in Dollars per share) | ' | $17.65 | ' | ' | $17.65 | ' |
Vested | ' | ' | -31,572 | ' | ' | ' |
Vested (in Dollars per share) | ' | ' | $3.36 | ' | ' | ' |
Vested | ' | ' | ' | ' | -5,946 | ' |
Vested (in Dollars per share) | ' | ' | ' | ' | $13.63 | ' |
Forfeited | ' | ' | -283 | ' | ' | ' |
Forfeited (in Dollars per share) | ' | ' | $6.04 | ' | ' | ' |
Forfeited | ' | ' | ' | ' | -141 | ' |
Forfeited (in Dollars per share) | ' | ' | ' | ' | $14.15 | ' |