Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 12-May-14 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'NVSL | ' |
Entity Common Stock, Shares Outstanding | ' | 7,002,208 |
Entity Registrant Name | 'Naugatuck Valley Financial Corp | ' |
Entity Central Index Key | '0001493552 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from depository institutions | $9,620 | $26,330 |
Federal funds sold | 2,094 | 44 |
Cash and cash equivalents | 11,714 | 26,374 |
Investment securities available-for-sale, at fair value | 87,787 | 49,771 |
Investment securities held-to-maturity, at amortized cost | 16,890 | 18,149 |
Loans held for sale | 676 | 1,079 |
Loans receivable, net | 359,925 | 360,568 |
Accrued income receivable | 1,735 | 1,494 |
Foreclosed real estate | 1,114 | 1,846 |
Premises and equipment, net | 9,392 | 9,364 |
Bank owned life insurance | 10,198 | 10,132 |
Federal Home Loan Bank of Boston stock, at cost | 5,444 | 5,444 |
Other assets | 2,414 | 2,376 |
Total assets | 507,289 | 486,597 |
Liabilities | ' | ' |
Deposits | 388,912 | 390,847 |
Federal Home Loan Bank ("FHLB") advances | 49,216 | 25,293 |
Other borrowed funds | 6,185 | 4,173 |
Mortgagors' escrow accounts | 2,263 | 4,392 |
Other liabilities | 2,969 | 3,658 |
Total liabilities | 449,545 | 428,363 |
Commitments and contingencies | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock, $.01 par value; 1,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 25,000,000 shares authorized; 7,002,366 shares issued; 7,002,208 shares outstanding at March 31, 2014 and December 31, 2013, respectively | 70 | 70 |
Paid-in capital | 58,757 | 58,757 |
Retained earnings | 1,513 | 2,322 |
Unearned employee stock ownership plan ("ESOP") shares (326,751 shares at March 31, 2014 and December 31, 2013) | -2,824 | -2,824 |
Treasury Stock, at cost (158 shares at March 31, 2014 and December 31, 2013) | -1 | -1 |
Accumulated other comprehensive income (loss) | 229 | -90 |
Total stockholders' equity | 57,744 | 58,234 |
Total liabilities and stockholders' equity | $507,289 | $486,597 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition [Parenthetical] (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, shares issued | 7,002,366 | 7,002,366 |
Common stock, shares outstanding | 7,002,208 | 7,002,208 |
Unearned ESOP, shares | 326,751 | 326,751 |
Treasury stock, shares | 158 | 158 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest income | ' | ' |
Interest and fees on loans | $4,212 | $5,051 |
Interest and dividends on investments and deposits | 662 | 319 |
Total interest income | 4,874 | 5,370 |
Interest expense | ' | ' |
Interest on deposits | 604 | 786 |
Interest on borrowed funds | 154 | 293 |
Total interest expense | 758 | 1,079 |
Net interest income | 4,116 | 4,291 |
Provision for loan losses | 0 | 300 |
Net interest income after provision for loan losses | 4,116 | 3,991 |
Noninterest income | ' | ' |
Service charge income | 173 | 178 |
Fees for other services | 95 | 110 |
Mortgage banking income | 136 | 502 |
Income from bank owned life insurance | 66 | 71 |
Net gain on sale of investments | 158 | 0 |
Income from investment advisory services, net | 94 | 52 |
Other income | 32 | 24 |
Total noninterest income | 754 | 937 |
Noninterest expense | ' | ' |
Compensation, taxes and benefits | 3,016 | 2,677 |
Occupancy | 543 | 491 |
Professional fees | 518 | 660 |
FDIC insurance premiums | 261 | 206 |
Insurance | 145 | 158 |
Computer processing | 369 | 316 |
Expenses on foreclosed real estate, net | 210 | 357 |
Writedowns on foreclosed real estate | 27 | 12 |
Directors' compensation | 102 | 134 |
Advertising | 96 | 87 |
Office supplies | 69 | 61 |
Other expenses | 323 | 360 |
Total noninterest expense | 5,679 | 5,519 |
Loss before provision (benefit) for income taxes | -809 | -591 |
Provision (benefit) for income taxes | 0 | 0 |
Net loss | ($809) | ($591) |
Loss per common share - basic and diluted (in dollars per share) | ($0.12) | ($0.09) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net loss | ($809) | ($591) |
Other comprehensive income (loss): | ' | ' |
Unrealized gain (loss) on available-for-sale investment securities | 347 | -51 |
Income tax effect | -118 | 0 |
Other comprehensive income (loss) | 229 | -51 |
Total comprehensive loss | ($580) | ($642) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Paid-in Capital [Member] | Retained Earnings [Member] | Unearned ESOP Shares [Member] | Unearned Stock Awards [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||||
Balance at Dec. 31, 2012 | $66,908 | $70 | $58,842 | $11,164 | ($3,143) | ($3) | ($1) | ($21) |
Net loss | -591 | 0 | 0 | -591 | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | -51 | 0 | 0 | 0 | 0 | 0 | 0 | -51 |
Balance at Mar. 31, 2013 | 66,266 | 70 | 58,842 | 10,573 | -3,143 | -3 | -1 | -72 |
Balance at Dec. 31, 2013 | 58,234 | 70 | 58,757 | 2,322 | -2,824 | 0 | -1 | -90 |
Net loss | -809 | 0 | 0 | -809 | 0 | 0 | 0 | ' |
Other comprehensive income (loss) | 319 | 0 | 0 | 0 | 0 | 0 | 0 | 319 |
Balance at Mar. 31, 2014 | $57,744 | $70 | $58,757 | $1,513 | ($2,824) | $0 | ($1) | $229 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities | ' | ' |
Net loss | ($809) | ($591) |
Adjustments to reconcile net loss to cash provided by operating activities: | ' | ' |
Provision for loan losses | 0 | 300 |
Depreciation and amortization expense | 180 | 182 |
Net loss on sales of foreclosed real estate | 65 | 39 |
Writedowns on foreclosed real estate | 27 | 12 |
Gain on sale of loans | -131 | -420 |
Loans originated for sale | -3,616 | -6,698 |
Proceeds from sale of loans held for sale | 4,150 | 8,771 |
Net amortization from investments | 36 | 107 |
Net gain on sale of investments | -158 | 0 |
Net gain of disposal of fixed assets | 0 | 4 |
Net change in: | ' | ' |
Accrued income receivable | -241 | 70 |
Deferred loan fees | -9 | -19 |
Cash surrender value of life insurance | -66 | -71 |
Other assets | -39 | 552 |
Other liabilities | -807 | -804 |
Net cash (used in)/provided by operating activities | -1,418 | 1,434 |
Cash flows from investing activities | ' | ' |
Proceeds from calls, maturities and repayments of available-for-sale securities | 4,348 | 1,232 |
Proceeds from sale of available-for-sale securities | 6,052 | 0 |
Proceeds from maturities and repayments of held-to-maturity securities | 1,212 | 2,046 |
Redemption of Federal Home Loan Bank stock | 0 | 473 |
Purchase of available-for-sale securities | -47,809 | 0 |
Loan originations net of principal payments | 314 | 4,175 |
Purchase of premises and equipment | -208 | -42 |
Proceeds from the sale of foreclosed real estate | 978 | 186 |
Net cash (used in)/provided by investing activities | -35,113 | 8,070 |
Cash flows from financing activities | ' | ' |
Net change in time deposits | -823 | -7,154 |
Net change in other deposit accounts | -1,112 | 5,490 |
Proceeds from FHLB advances | 24,000 | 500 |
Repayment of FHLB advances | -77 | -3,292 |
Net change in mortgagors' escrow accounts | -2,129 | -2,226 |
Change in other borrowed funds | 2,012 | 8,124 |
Net cash provided by financing activities | 21,871 | 1,442 |
Net change in cash and cash equivalents | -14,660 | 10,946 |
Cash and cash equivalents at beginning of period | 26,374 | 23,229 |
Cash and cash equivalents at end of period | 11,714 | 34,175 |
Non-cash investing activities: | ' | ' |
Transfer of loans to foreclosed assets | 338 | 0 |
Cash paid during the period for: | ' | ' |
Interest | 743 | 1,083 |
Unrealized gains (losses) on available for sale securities arising during the period | $438 | ($51) |
DESCRIPTION_OF_BUSINESS_AND_BA
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Nature of Operations [Text Block] | ' |
NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | |
Description of Business | |
Naugatuck Valley Financial Corporation (“Naugatuck Valley Financial” or the “Company”) is a stock savings and loan holding company incorporated in the State of Maryland. The Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary bank, Naugatuck Valley Savings and Loan (“Naugatuck Valley Savings” or the “Bank”). The Company became the holding company for the Bank effective June 29, 2011. | |
Naugatuck Valley Savings is a federally chartered stock savings association and has served its customers in Connecticut since 1922. The Bank operates as a community-oriented financial institution dedicated to serving the financial services needs of consumers and businesses with a variety of deposit and lending products from its full service banking offices in the Greater Naugatuck Valley region of southwestern Connecticut. The Bank attracts deposits from the general public and uses those funds to originate one-to-four family, multi-family and commercial real estate, construction, commercial business and consumer loans. | |
Naugatuck Valley Savings has two wholly owned subsidiaries, Naugatuck Valley Mortgage Servicing Corporation and Church Street OREO One, LLC. Naugatuck Valley Mortgage Servicing Corporation qualifies and operates as a passive investment company pursuant to Connecticut regulation. Church Street OREO One, LLC was established in February 2013 to hold properties acquired through foreclosure as well as from nonjudicial proceedings. | |
Basis of Presentation | |
The accompanying consolidated interim financial statements are unaudited and include the accounts of the Company, the Bank, and the Bank’s wholly owned subsidiaries, Naugatuck Valley Mortgage Servicing Corporation and Church Street OREO One, LLC. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the December 31, 2013 audited Consolidated Financial Statements and the accompanying Notes included in our Annual Report on Form 10-K. All significant intercompany accounts and transactions have been eliminated in consolidation. These consolidated financial statements reflect, in the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and the results of its operations and its cash flows at the dates and for the periods presented. | |
In preparing the consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statement of condition, and the reported amounts of income and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans, deferred income taxes and the valuation of and the evaluation for other than temporary impairment (“OTTI”) on investment securities. While management uses available information to recognize losses and properly value these assets, future adjustments may be necessary based on changes in economic conditions both in Connecticut and nationally. | |
The Company’s only business segment is Community Banking. This segment represented all the revenues, income and assets of the consolidated Company and therefore, is the only reported segment as defined by FASB ASC 820, Segment Reporting. | |
Management has evaluated subsequent events for potential recognition or disclosure in the consolidated financial statements as of the date of this filing. No subsequent events were identified that would have required a change to the consolidated financial statements or disclosure in the notes to the consolidated financial statements. | |
Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. | |
Certain reclassifications have been made to the prior period amounts to conform with the March 31, 2014 consolidated financial statement presentation. These reclassifications only changed the reporting categories and did not affect the Company’s results of operations or financial position. | |
Significant Accounting Policies | |
The significant accounting policies used in preparation of our consolidated financial statements are disclosed in our 2013 Annual Report on Form 10-K. There have not been any material changes in our significant accounting policies compared with those contained in our Form 10-K disclosure for the year ended December 31, 2013. | |
Recently Issued Accounting Pronouncements | |
Income Taxes- Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists: (a consensus of the FASB Emerging Issues Task Force). In July 2013, the FASB issued ASU 2013-11. Per this ASU, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The ASU became effective during the three months ended March 31, 2014. The adoption of this guidance has not had a material impact on the Company’s consolidated financial statements. | |
Receivables – Troubled Debt Restructurings by Creditors: In January 2014, the FASB issued ASU 2014-04. This update clarifies that when an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan, upon either: (i) the creditor obtaining legal title to the property upon completion of the foreclosure; or (ii) the borrower conveying all interest in the property to the creditor to satisfy the loan through completion of a deed-in-lieu of foreclosure or through a similar legal agreement. ASU 2014-04 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014 and is not expected to have a material impact upon the Company’s consolidated financial statements. | |
REGULATORY_MATTERS
REGULATORY MATTERS | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | |||||||||||||||||||
NOTE 2 – REGULATORY MATTERS | ||||||||||||||||||||
Effective January 17, 2012, the Bank entered into a written Formal Agreement (the “Agreement”) with the Office of the Comptroller of the Currency (the “OCC”). The Agreement requires the Bank to take various actions, within prescribed time frames, with respect to certain operational areas of the Bank, including the following: | ||||||||||||||||||||
· | Restricts the Bank from declaring or paying any dividends or other capital distributions to the Company without prior written regulatory approval. This provision relates to upstreaming intercompany dividends or other capital distributions from the Bank to the Company. | |||||||||||||||||||
· | Provide prior written notice to the OCC before appointing an individual to serve as a senior executive officer or as a director of the Bank. | |||||||||||||||||||
· | Restricts the Bank from entering into, renewing, extending or revising any contractual arrangement relating to the compensation or benefits for any senior executive officer of the Bank, unless the Bank provides the OCC with prior written notice of the proposed transaction. | |||||||||||||||||||
· | Subjects the Bank to six month financial and operational examination review. The most recent examination occurred in January 2014. The next scheduled review is expected in the third quarter 2014. | |||||||||||||||||||
In April and May 2013, additional senior management team members were retained to assist the new CEO (who was hired in September 2012) to address the provisions of the Agreement. | ||||||||||||||||||||
The Agreement and each of its provisions will remain in effect until these provisions are amended in writing by mutual consent or waived in writing by the OCC or terminated in writing by the OCC. | ||||||||||||||||||||
The OCC regulations require savings institutions to maintain minimum levels of regulatory capital. Effective June 4, 2013, the OCC imposed individual minimum capital requirements (“IMCRs”) on the Bank. The IMCRs require the Bank to maintain a Tier 1 leverage capital to adjusted total assets ratio of at least 9.00% and a total risk-based capital to risk-rated assets ratio of at least 13.00%. Before the establishment of the IMCRs, the Bank had been operating under these capital parameters by self-imposing these capital levels as part of the capital plan the Bank was required to implement under the terms of the previously disclosed January 2012 Formal Agreement between the Bank and the OCC. The Bank exceeded the IMCRs at March 31, 2014, with a Tier 1 leverage ratio of 10.44% and a total risk-based capital ratio of 17.77%. | ||||||||||||||||||||
As a source of strength to its subsidiary bank, the Company had liquid assets of approximately $2.9 million at March 31, 2014, which the Company could contribute to the Bank if needed, to enhance the Bank’s capital levels. If the Company had contributed those assets to the Bank as of March 31, 2014, the Bank would have had a Tier 1 leverage ratio of approximately 10.96%. | ||||||||||||||||||||
On May 21, 2013, the Company entered into a Memorandum of Understanding (“MOU”) with the Federal Reserve Bank of Boston. Among other things, the MOU prohibits the Company from paying dividends, repurchasing its stock or making other capital distributions without prior written approval of the Federal Reserve Bank of Boston, | ||||||||||||||||||||
As a savings and loan holding company regulated by the Federal Reserve Board, the Company is not currently subject to specific regulatory capital requirements. The Dodd- Frank Act, however, requires the Federal Reserve Board to promulgate consolidated capital requirements for depository institution holding companies that are no less stringent, both quantitatively and in terms of components of capital, than those applicable to institutions themselves. There is a five- year transition period (from the July 21, 2010 effective date of the Dodd- Frank Act) before the capital requirements will apply to savings and loan holding companies. | ||||||||||||||||||||
The following tables are summaries of the Company’s consolidated capital amounts and ratios and the Bank’s actual capital amounts and ratios as computed under the standards established by the Federal Deposit Insurance Act at March 31, 2014 and December 31, 2013. | ||||||||||||||||||||
At March 31, 2014 | Adequately Capitalized | Individual Minimum | Actual | |||||||||||||||||
Requirements | Capital Requirements (3) | |||||||||||||||||||
(Dollars in thousands) | $ | % | $ | % | $ | % | ||||||||||||||
The Company Consolidated | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | N/A | N/A | N/A | N/A | $ | 57,514 | 11.35 | % | ||||||||||||
Tier 1 Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 57,514 | 17.96 | % | |||||||||||||
Total Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 61,589 | 19.23 | % | |||||||||||||
The Bank | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | $ | 20,354 | 4 | % | $ | 45,797 | 9 | % | $ | 53,147 | 10.44 | % | ||||||||
Tier 1 Risk-Based Capital (2) | 12,886 | 4 | % | N/A | N/A | 53,147 | 16.5 | % | ||||||||||||
Total Risk-Based Capital (2) | 25,772 | 8 | % | 41,879 | 13 | % | 57,246 | 17.77 | % | |||||||||||
(1) Tier 1 capital to total assets. | ||||||||||||||||||||
(2) Tier 1 or total risk-based capital to risk-weighted assets. | ||||||||||||||||||||
(3) Effective June 4, 2013. | ||||||||||||||||||||
At December 31, 2013 | Adequately Capitalized | Individual Minimum | Actual | |||||||||||||||||
Requirements | Capital Requirements (3) | |||||||||||||||||||
(Dollars in thousands) | $ | % | $ | % | $ | % | ||||||||||||||
The Company Consolidated | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | N/A | N/A | N/A | N/A | $ | 58,323 | 11.98 | % | ||||||||||||
Tier 1 Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 58,323 | 18.21 | % | |||||||||||||
Total Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 62,399 | 19.49 | % | |||||||||||||
The Bank | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | $ | 19,545 | 4 | % | $ | 43,977 | 9 | % | $ | 53,946 | 11.04 | % | ||||||||
Tier 1 Risk-Based Capital (2) | 12,891 | 4 | % | N/A | N/A | 53,946 | 16.74 | % | ||||||||||||
Total Risk-Based Capital (2) | 25,783 | 8 | % | 41,897 | 13 | % | 58,047 | 18.01 | % | |||||||||||
(1) Tier 1 capital to total assets. | ||||||||||||||||||||
(2) Tier 1 or total risk-based capital to risk-weighted assets. | ||||||||||||||||||||
(3) Effective June 4, 2013. | ||||||||||||||||||||
As of March 31, 2014, the most recent regulatory notifications categorized the Bank as adequately capitalized under the regulatory framework for prompt corrective action. | ||||||||||||||||||||
INVESTMENT_SECURITIES
INVESTMENT SECURITIES | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||||||
NOTE 3 – INVESTMENT SECURITIES | ||||||||||||||||||||
At March 31, 2014, the composition of the investment portfolio was: | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Government and agency obligations | $ | 42,185 | $ | 202 | $ | -154 | $ | 42,233 | ||||||||||||
Asset-backed securities | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 29,028 | 602 | -388 | 29,242 | ||||||||||||||||
U.S. Government agency collateralized mortgage obligations | 8,635 | 47 | -8 | 8,674 | ||||||||||||||||
Small Business Administration loan pools | 2,015 | 12 | - | 2,027 | ||||||||||||||||
Private label collateralized mortgage obligations | 252 | - | -4 | 248 | ||||||||||||||||
Obligations of state and municipal subdivisions | 4,825 | 36 | - | 4,861 | ||||||||||||||||
Mutual fund - fixed income securities | 500 | 2 | - | 502 | ||||||||||||||||
Total available-for-sale securities | $ | 87,440 | $ | 901 | $ | -554 | $ | 87,787 | ||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 16,890 | $ | 176 | $ | -9 | $ | 17,057 | ||||||||||||
Total held-to-maturity securities | $ | 16,890 | $ | 176 | $ | -9 | $ | 17,057 | ||||||||||||
At December 31, 2013, the composition of the investment portfolio was: | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Government and agency obligations | $ | 16,601 | $ | 35 | $ | -130 | $ | 16,506 | ||||||||||||
U.S. Government agency mortgage-backed securities | 22,874 | 527 | -532 | 22,869 | ||||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,736 | 11 | -9 | 3,738 | ||||||||||||||||
Private label collateralized mortgage obligations | 258 | 8 | - | 266 | ||||||||||||||||
Auction-rate trust preferred securities | 5,893 | - | - | 5,893 | ||||||||||||||||
Mutual fund - fixed income securities | 500 | - | -1 | 499 | ||||||||||||||||
Total available-for-sale securities | $ | 49,862 | $ | 581 | $ | -672 | $ | 49,771 | ||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 18,149 | $ | 134 | $ | -40 | $ | 18,243 | ||||||||||||
Total held-to-maturity securities | $ | 18,149 | $ | 134 | $ | -40 | $ | 18,243 | ||||||||||||
The following is a summary of the fair values and related unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2014, and December 31, 2013: | ||||||||||||||||||||
At March 31, 2014 | Less than 12 Months | 12 Months or Greater | Total | |||||||||||||||||
(Dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||
Loss | Loss | Loss | ||||||||||||||||||
U.S. Government agency obligations | $ | 10,745 | $ | 154 | $ | - | $ | - | $ | 10,745 | $ | 154 | ||||||||
U.S. Government agency mortgage-backed securities | 12,428 | 387 | 66 | 1 | 12,494 | 388 | ||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,043 | 8 | - | - | 3,043 | 8 | ||||||||||||||
Private label collateralized mortgage obligations | 248 | 4 | - | - | 248 | 4 | ||||||||||||||
Total securities in unrealized loss position | $ | 26,464 | $ | 553 | $ | 66 | $ | 1 | $ | 26,530 | $ | 554 | ||||||||
At December 31, 2013 | Less than 12 Months | 12 Months or Greater | Total | |||||||||||||||||
(Dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||
Loss | Loss | Loss | ||||||||||||||||||
U.S. Government agency obligations | $ | 9,865 | $ | 130 | $ | - | $ | - | $ | 9,865 | $ | 130 | ||||||||
U.S. Government agency mortgage-backed securities | 8,075 | 531 | 65 | 1 | 8,140 | 532 | ||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,228 | 9 | - | - | 3,228 | 9 | ||||||||||||||
Mutual fund - fixed Income securities | 499 | 1 | - | - | 499 | 1 | ||||||||||||||
Total securities in unrealized loss position | $ | 21,667 | $ | 671 | $ | 65 | $ | 1 | $ | 21,732 | $ | 672 | ||||||||
The amortized cost and fair value of securities at March 31, 2014 and December 31, 2013, by expected maturity, are set forth below. Actual maturities of mortgage-backed securities and collateralized mortgage obligations may differ from contractual maturities because the mortgages underlying the securities may be prepaid or called with or without call or prepayment penalties. Because these securities are not due at a single maturity date, the maturity information is not presented. | ||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | |||||||||||||||||||
At March 31, 2014 | Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||
Cost | Cost | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 29,028 | $ | 29,242 | $ | 16,890 | $ | 17,057 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | 8,635 | 8,674 | - | - | ||||||||||||||||
Small Business Administration loan pools | 2,015 | 2,027 | ||||||||||||||||||
Private label collateralized mortgage obligations | 252 | 248 | - | - | ||||||||||||||||
Mutual fund - fixed Income securities | 500 | 502 | - | - | ||||||||||||||||
Subtotal | 40,430 | 40,693 | 16,890 | 17,057 | ||||||||||||||||
Securities with Fixed Maturities: | ||||||||||||||||||||
Due in one year or less | - | - | - | - | ||||||||||||||||
Due after one year through five years | 5,051 | 5,075 | - | - | ||||||||||||||||
Due after five years through ten years | 22,337 | 22,344 | - | - | ||||||||||||||||
Due after ten years | 19,622 | 19,675 | - | - | ||||||||||||||||
Subtotal | 47,010 | 47,094 | - | - | ||||||||||||||||
Grand totals | $ | 87,440 | $ | 87,787 | $ | 16,890 | $ | 17,057 | ||||||||||||
Available-for-Sale | Held-to-Maturity | |||||||||||||||||||
At December 31, 2013 | Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||
Cost | Cost | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 22,874 | $ | 22,869 | $ | 18,149 | $ | 18,243 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,736 | 3,738 | - | - | ||||||||||||||||
Private label collateralized mortgage obligations | 258 | 266 | - | - | ||||||||||||||||
Mutual fund - fixed Income securities | 500 | 499 | - | - | ||||||||||||||||
Subtotal | 27,368 | 27,372 | 18,149 | 18,243 | ||||||||||||||||
Securities with fixed Maturities: | ||||||||||||||||||||
Due in one year or less | - | - | ||||||||||||||||||
Due after one year through five years | 6,606 | 6,641 | - | - | ||||||||||||||||
Due after five years through ten years | 9,995 | 9,865 | - | - | ||||||||||||||||
Due after ten years | 5,893 | 5,893 | - | - | ||||||||||||||||
Subtotal | 22,494 | 22,399 | - | - | ||||||||||||||||
Grand totals | $ | 49,862 | $ | 49,771 | $ | 18,149 | $ | 18,243 | ||||||||||||
As of March 31, 2014 and December 31, 2013, securities with an amortized cost of $18.76 million and $19.53 million, and a fair value of $18.97 million and $19.67 million, respectively, were pledged as collateral to secure municipal deposits and repurchase agreements. | ||||||||||||||||||||
LOANS_RECEIVABLE
LOANS RECEIVABLE | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||
NOTE 4 – LOANS RECEIVABLE | |||||||||||||||||||||||
A summary of loans receivable at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||
One-to-four family | $ | 184,531 | $ | 186,985 | |||||||||||||||||||
Multi-family and commercial real estate | 122,329 | 123,134 | |||||||||||||||||||||
Construction and land development | 5,528 | 5,609 | |||||||||||||||||||||
Total real estate loans | 312,388 | 315,728 | |||||||||||||||||||||
Commercial business loans | 24,250 | 25,506 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity | 27,267 | 26,960 | |||||||||||||||||||||
Other consumer | 5,932 | 2,321 | |||||||||||||||||||||
Total consumer loans | 33,199 | 29,281 | |||||||||||||||||||||
Total loans | 369,837 | 370,515 | |||||||||||||||||||||
Less: | |||||||||||||||||||||||
Allowance for loan losses | 9,865 | 9,891 | |||||||||||||||||||||
Deferred loan origination fees, net | 47 | 56 | |||||||||||||||||||||
Loans receivable, net | $ | 359,925 | $ | 360,568 | |||||||||||||||||||
Credit quality of financing receivables | |||||||||||||||||||||||
Management segregates the loan portfolio into portfolio segments which are defined as the level at which the Company develops and documents a systematic method for determining its allowance for loan losses. The portfolio segments are segregated based on loan types and the underlying risk factors present in each loan type. Such risk factors are periodically reviewed by management and revised as deemed appropriate. | |||||||||||||||||||||||
During the second quarter of 2013, management analyzed the risk concentration within the loan portfolio. As a result of this analysis, the loan portfolio was further disaggregated by expanding the number of loan segments from six segments to ten segments as of June 30, 2013. The commercial real estate loan segment, the second largest grouping of loans after one-to-four family owner occupied loans, was expanded into five segments to increase the granularity of analysis of the risks inherent in the loans in these segments. The expanded commercial loan segments are: investor owned one-to-four family and multi-family properties, industrial and warehouse properties, office buildings, retail properties and special use properties. | |||||||||||||||||||||||
The Company’s loan portfolio is segregated as follows: | |||||||||||||||||||||||
One-to-four Family Owner Occupied Loans. This portfolio segment consists of the origination of first mortgage loans secured by one-to-four family owner occupied residential properties and residential construction loans to individuals to finance the construction of residential dwellings for personal use located in our market area. Although the Company has experienced an increase in foreclosures on its owner occupied loan portfolio over the past year, foreclosures are still at relatively low levels. Management believes this is due mainly to its prudent underwriting and lending strategies which do not allow for high risk loans such as “Option ARM,” “sub-prime” or “Alt-A” loans. | |||||||||||||||||||||||
Multi-family and Commercial Real Estate Loans. As described above, this portfolio grouping has been further disaggregated into loans secured by: | |||||||||||||||||||||||
· | Investor owned one-to-four family and multi-family properties; | ||||||||||||||||||||||
· | Industrial and warehouse properties; | ||||||||||||||||||||||
· | Office buildings; | ||||||||||||||||||||||
· | Retail properties; and | ||||||||||||||||||||||
· | Special use properties. | ||||||||||||||||||||||
Loans secured by these types of commercial real estate collateral generally have larger loan balances and more credit risk than owner occupied one-to-four family mortgage loans. The increased risk is the result of several factors, including the concentration of principal in a limited number of loans and borrowers, the impact of local and general economic conditions on the borrower’s ability to repay the loan, and the increased difficulty of evaluating and monitoring these types of loans. | |||||||||||||||||||||||
Construction and Land Development Loans. This portfolio segment includes commercial construction loans for commercial development projects, including condominiums, apartment buildings, and single family subdivisions as well as office buildings, retail and other income producing properties and land loans, which are loans made with land as security. Construction and land development financing generally involves greater credit risk than long-term financing on improved, owner-occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the value of the property at completion of construction compared to the estimated cost (including interest) of construction and other assumptions. If the estimate of construction cost proves to be inaccurate, the Company may be required to advance additional funds beyond the amount originally committed in order to protect the value of the property. Moreover, if the estimated value of the completed project proves to be inaccurate, the borrower may hold a property with a value that is insufficient to assure full repayment. Construction loans also expose the Company to the risks that improvements will not be completed on time in accordance with specifications and projected costs and that repayment will depend on the successful operation or sale of the properties, which may cause some borrowers to be unable to continue with debt service which exposes the Company to greater risk of non-payment and loss. Additionally, economic factors such as the decline of property values may have an adverse affect on the ability of the borrower to sell the property. | |||||||||||||||||||||||
Commercial Business Loans. This portfolio segment includes commercial business loans secured by real estate, assignments of corporate assets, and personal guarantees of the business owners. Commercial business loans generally have higher interest rates and shorter terms than other loans, but they also may involve higher average balances, increased difficulty of loan monitoring and a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business. | |||||||||||||||||||||||
Real Estate Secured Consumer Loans. This portfolio segment includes home equity loans and home equity lines of credit secured by owner occupied one-to four-family residential properties. Loans of this type are written at a maximum of 75% of the appraised value of the property and we require that we have no lower than a second lien position on the property. These loans are written at a higher interest rate and a shorter term than mortgage loans. The Company has experienced a low level of foreclosure in this type of loan during recent periods. These loans can be affected by economic conditions and the values of the underlying properties. | |||||||||||||||||||||||
Other Consumer Loans. This portfolio segment includes loans secured by passbook or certificate accounts, or automobiles, as well as unsecured personal loans and overdraft lines of credit. This type of loan may entail greater risk than do residential mortgage loans, particularly in the case of loans that are unsecured or secured by assets that depreciate rapidly. | |||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||
The Company’s policies provide for the classification of loans into the following categories: pass (1 - 5), special mention (6), substandard-accruing (7), substandard-nonaccruing (8), doubtful (9), and loss (10). In June 2013, the Company added substandard-accruing as an additional risk grade to further delineate the Bank’s risk profile in the previous substandard category. Consistent with regulatory guidelines, loans that are considered to be of lesser quality are considered adversely classified as substandard, doubtful or loss. A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those loans characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Loans classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans (or portions of loans) classified as loss are those considered uncollectible. The Company generally charges off loans or portions of loans as soon as they are considered to be uncollectible and of little value. Loans that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve close attention, are required to be designated as special mention. When loans are classified as special mention, substandard or doubtful, management focuses increased monitoring and attention on these loans in assessing the credit risk and specific allowance requirements for these loans. | |||||||||||||||||||||||
The following tables are a summary of the loan portfolio credit quality indicators, by loan class, as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
March 31, 2014 | One-to-Four | Multi-Family and | Construction and | Commercial | Consumer Loans | Total | |||||||||||||||||
Family | Commercial Real | Land | Business Loans | ||||||||||||||||||||
Estate | Development | ||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 178,689 | $ | 98,536 | $ | 3,490 | $ | 19,080 | $ | 32,641 | $ | 332,436 | |||||||||||
Special Mention | 754 | 13,934 | 454 | 3,042 | 268 | 18,452 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | 97 | 6,987 | - | 1,233 | 42 | 8,359 | |||||||||||||||||
- Nonaccruing | 4,991 | 2,872 | 1,584 | 805 | 248 | 10,500 | |||||||||||||||||
Subtotal - substandard | 5,088 | 9,859 | 1,584 | 2,038 | 290 | 18,859 | |||||||||||||||||
Doubtful | - | - | - | 90 | - | 90 | |||||||||||||||||
Total | $ | 184,531 | $ | 122,329 | $ | 5,528 | $ | 24,250 | $ | 33,199 | $ | 369,837 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
March 31, 2014 | Investor Owned | Industrial and | Office Buildings | Retail Properties | Special Use | Total Multi-Family | |||||||||||||||||
One-to-Four | Warehouse | Properties | and Commercial | ||||||||||||||||||||
family and multi- | Properties | Real Estate | |||||||||||||||||||||
family | |||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 13,524 | $ | 23,728 | $ | 17,609 | $ | 17,655 | $ | 26,020 | $ | 98,536 | |||||||||||
Special Mention | 2,351 | 4,724 | 2,644 | 493 | 3,722 | 13,934 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | - | 1,144 | 472 | 4,758 | 613 | 6,987 | |||||||||||||||||
- Nonaccruing | 1,154 | 29 | 206 | 377 | 1,106 | 2,872 | |||||||||||||||||
Subtotal - substandard | 1,154 | 1,173 | 678 | 5,135 | 1,719 | 9,859 | |||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||
Total | $ | 17,029 | $ | 29,625 | $ | 20,931 | $ | 23,283 | $ | 31,461 | $ | 122,329 | |||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
December 31, 2013 | One-to-Four | Multi-Family and | Construction and | Commercial | Consumer Loans | Total | |||||||||||||||||
Family | Commercial Real | Land | Business Loans | ||||||||||||||||||||
Estate | Development | ||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 180,704 | $ | 90,462 | $ | 3,102 | $ | 18,939 | $ | 28,603 | $ | 321,810 | |||||||||||
Special Mention | 500 | 26,832 | 946 | 3,869 | 262 | 32,409 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | 349 | 2,470 | - | - | 94 | 2,913 | |||||||||||||||||
- Nonaccruing | 5,432 | 3,370 | 1,561 | 2,605 | 322 | 13,290 | |||||||||||||||||
Subtotal - substandard | 5,781 | 5,840 | 1,561 | 2,605 | 416 | 16,203 | |||||||||||||||||
Doubtful | - | - | - | 93 | - | 93 | |||||||||||||||||
Total | $ | 186,985 | $ | 123,134 | $ | 5,609 | $ | 25,506 | $ | 29,281 | $ | 370,515 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
December 31, 2013 | Investor Owned | Industrial and | Office Buildings | Retail Properties | Special Use | Total Multi-Family | |||||||||||||||||
One-to-Four | Warehouse | Properties | and Commercial | ||||||||||||||||||||
family and multi- | Properties | Real Estate | |||||||||||||||||||||
family | |||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 10,682 | $ | 21,500 | $ | 16,821 | $ | 16,250 | $ | 25,209 | $ | 90,462 | |||||||||||
Special Mention | 4,523 | 7,310 | 4,015 | 6,130 | 4,854 | 26,832 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | - | 1,155 | 370 | 457 | 488 | 2,470 | |||||||||||||||||
- Nonaccruing | 1,167 | 31 | 206 | 682 | 1,284 | 3,370 | |||||||||||||||||
Subtotal - substandard | 1,167 | 1,186 | 576 | 1,139 | 1,772 | 5,840 | |||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||
Total | $ | 16,372 | $ | 29,996 | $ | 21,412 | $ | 23,519 | $ | 31,835 | $ | 123,134 | |||||||||||
Delinquencies | |||||||||||||||||||||||
When a loan is 15 days past due, the Company sends the borrower a late notice. The Company also contacts the borrower by phone if the delinquency is not corrected promptly after the notice has been sent. When the loan is 30 days past due, the Company mails the borrower a letter reminding the borrower of the delinquency and attempts to contact the borrower personally to determine the reason for the delinquency in order to ensure that the borrower understands the terms of the loan and the importance of making payments on or before the due date. If necessary, subsequent delinquency notices are issued and the account will be monitored on a regular basis thereafter. By the 90th day of delinquency, the Company will send the borrower a final demand for payment and may recommend foreclosure. A summary report of all loans 30 days or more past due is provided to the Board of Directors of the Company each month. | |||||||||||||||||||||||
Loans, including TDRs, are automatically placed on nonaccrual status when payment of principal or interest is more than 90 days delinquent. Loans may also be placed on nonaccrual status if collection of principal or interest in full, or in part, is in doubt or if the loan has been restructured. When loans are placed on nonaccrual status, unpaid accrued interest is fully reversed, and further income is recognized only to the extent received. The loan may be returned to accrual status if unpaid principal and interest are repaid so that the loan is less than 90 days delinquent for a reasonable period of time (usually six consecutive months) to establish a reliable assessment of collectability. | |||||||||||||||||||||||
The following tables set forth certain information with respect to our loan portfolio delinquencies, by loan class, as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
Delinquencies | |||||||||||||||||||||||
As of March 31, 2014 | 31-60 Days | 61-90 Days | Greater | Total Past | Current | Total Loans | Carrying | ||||||||||||||||
Past Due | Past Due | Than | Due | Amount > 90 | |||||||||||||||||||
90 Days | Days and | ||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to-four family | $ | 1,240 | $ | 15 | $ | 2,603 | $ | 3,858 | $ | 180,673 | $ | 184,531 | $ | - | |||||||||
Construction and land development | 3 | - | 1,637 | 1,640 | 3,888 | 5,528 | 56 | ||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family | 514 | - | 692 | 1,206 | 15,823 | 17,029 | 73 | ||||||||||||||||
Industrial and Warehouse | 617 | - | - | 617 | 29,008 | 29,625 | - | ||||||||||||||||
Office buildings | 368 | - | 205 | 573 | 20,358 | 20,931 | - | ||||||||||||||||
Retail properties | - | - | - | - | 23,283 | 23,283 | - | ||||||||||||||||
Special use properties | 582 | - | 169 | 751 | 30,710 | 31,461 | - | ||||||||||||||||
Subtotal Multi-family and commercial real estate | 2,081 | - | 1,066 | 3,147 | 119,182 | 122,329 | 73 | ||||||||||||||||
Commercial business loans | 1,994 | - | 756 | 2,750 | 21,500 | 24,250 | - | ||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity loans | 69 | 100 | 158 | 327 | 26,940 | 27,267 | - | ||||||||||||||||
Other consumer loans | 1 | - | - | 1 | 5,931 | 5,932 | - | ||||||||||||||||
Subtotal Consumer | 70 | 100 | 158 | 328 | 32,871 | 33,199 | - | ||||||||||||||||
Total | $ | 5,388 | $ | 115 | $ | 6,220 | $ | 11,723 | $ | 358,114 | $ | 369,837 | $ | 129 | |||||||||
Delinquencies | |||||||||||||||||||||||
As of December 31, 2013 | 31-60 Days | 61-90 Days | Greater | Total Past | Current | Total Loans | Carrying | ||||||||||||||||
Past Due | Past Due | Than | Due | Amount > 90 | |||||||||||||||||||
90 Days | Days and | ||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to-four family | $ | 1,217 | $ | 397 | $ | 2,564 | $ | 4,178 | $ | 182,807 | $ | 186,985 | $ | - | |||||||||
Construction and land development | 970 | 538 | 1,799 | 3,307 | 2,302 | 5,609 | - | ||||||||||||||||
Multi-family and commercial real estate: | - | ||||||||||||||||||||||
Investor owned one-to-four family and multi-family | 861 | - | 621 | 1,482 | 14,890 | 16,372 | - | ||||||||||||||||
Industrial and Warehouse | - | - | 32 | 32 | 29,964 | 29,996 | - | ||||||||||||||||
Office buildings | - | 108 | 206 | 314 | 21,098 | 21,412 | - | ||||||||||||||||
Retail properties | 423 | - | - | 423 | 23,096 | 23,519 | - | ||||||||||||||||
Special use properties | 346 | - | 169 | 515 | 31,320 | 31,835 | - | ||||||||||||||||
Subtotal Multi-family and commercial real estate | 1,630 | 108 | 1,028 | 2,766 | 120,368 | 123,134 | - | ||||||||||||||||
Commercial business loans | 487 | 153 | 1,598 | 2,238 | 23,268 | 25,506 | - | ||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity loans | 155 | 28 | 142 | 325 | 26,635 | 26,960 | - | ||||||||||||||||
Other consumer loans | 2 | 3 | - | 5 | 2,316 | 2,321 | - | ||||||||||||||||
Subtotal Consumer | 157 | 31 | 142 | 330 | 28,951 | 29,281 | - | ||||||||||||||||
Total | $ | 4,461 | $ | 1,227 | $ | 7,131 | $ | 12,819 | $ | 357,696 | $ | 370,515 | $ | - | |||||||||
Impaired loans and nonperforming assets | |||||||||||||||||||||||
The following table sets forth certain information with respect to our nonperforming assets as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Nonperforming Assets | (Dollars in thousands) | ||||||||||||||||||||||
Nonaccrual loans | $ | 5,821 | $ | 7,953 | |||||||||||||||||||
TDRs nonaccruing | 4,769 | 5,430 | |||||||||||||||||||||
Subtotal nonperforming loans | 10,590 | 13,383 | |||||||||||||||||||||
Foreclosed real estate | 1,114 | 1,846 | |||||||||||||||||||||
Total nonperforming assets | $ | 11,704 | $ | 15,229 | |||||||||||||||||||
Total nonperforming loans to total loans | 2.86 | % | 3.61 | % | |||||||||||||||||||
Total nonperforming assets to total assets | 2.31 | % | 3.13 | % | |||||||||||||||||||
Nonperforming loans (defined as nonaccrual loans and nonperforming TDRs totaled $10.6 million at March 31, 2014 compared to $13.4 million at December 31, 2013. The amount of income that was contractually due but not recognized on nonperforming loans totaled $61,000 and $187,000 for the three months ended March 31, 2014 and March 31, 2013, respectively. | |||||||||||||||||||||||
At March 31, 2014, the Company had 62 loans on nonaccrual status of which 27 were less than 90 days past due; however, these loans were placed on nonaccrual status due to the uncertainty of their collectability. | |||||||||||||||||||||||
At December 31, 2013, the Company had 90 loans on nonaccrual status of which 44 were less than 90 days past due; however, these loans were placed on nonaccrual status due to the uncertainty of their collectability. | |||||||||||||||||||||||
An impaired loan generally is one for which it is probable, based on current information, that the Company will not collect all the amounts due under the contractual terms of the loan. All impaired loans are individually evaluated for impairment at least quarterly. As a result of this impairment evaluation, the Company provides a specific reserve for, or charges off, that portion of the asset that is deemed uncollectible. | |||||||||||||||||||||||
The following tables summarize impaired loans by portfolio segment as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
As of March 31, 2014 | Recorded | Recorded | Total | Unpaid | Related Specific | ||||||||||||||||||
Investment with | Investment with | Recorded | Contractual | Valuation | |||||||||||||||||||
No Specific | Specific | Investment | Principal Balance | Allowance | |||||||||||||||||||
Valuation | Valuation | ||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 4,533 | $ | 2,257 | $ | 6,790 | $ | 7,392 | $ | 49 | |||||||||||||
Construction and land development | 1,290 | 294 | 1,584 | 2,115 | 21 | ||||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family properties | 1,154 | - | 1,154 | 1,270 | - | ||||||||||||||||||
Industrial and warehouse properties | 29 | - | 29 | 32 | - | ||||||||||||||||||
Office buildings | 206 | - | 206 | 405 | - | ||||||||||||||||||
Retail properties | - | 377 | 377 | 458 | 12 | ||||||||||||||||||
Special use properties | 1,106 | - | 1,106 | 1,624 | - | ||||||||||||||||||
Subtotal | 2,495 | 377 | 2,872 | 3,789 | 12 | ||||||||||||||||||
Commercial business loans | 969 | 314 | 1,283 | 1,357 | 88 | ||||||||||||||||||
Consumer loans | 129 | 370 | 499 | 631 | 46 | ||||||||||||||||||
Total impaired loans | $ | 9,416 | $ | 3,612 | $ | 13,028 | $ | 15,284 | $ | 216 | |||||||||||||
As of December 31, 2013 | Recorded | Recorded | Total | Unpaid | Related Specific | ||||||||||||||||||
Investment with | Investment with | Recorded | Contractual | Valuation | |||||||||||||||||||
No Specific | Specific | Investment | Principal Balance | Allowance | |||||||||||||||||||
Valuation | Valuation | ||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 4,570 | $ | 2,431 | $ | 7,001 | $ | 7,734 | $ | 70 | |||||||||||||
Construction and land development | 1,405 | 449 | 1,854 | 2,424 | 75 | ||||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family properties | 1,167 | - | 1,167 | 1,274 | - | ||||||||||||||||||
Industrial and warehouse properties | 565 | - | 565 | 567 | - | ||||||||||||||||||
Office buildings | 206 | - | 206 | 405 | - | ||||||||||||||||||
Retail properties | 158 | 389 | 547 | 621 | 23 | ||||||||||||||||||
Special use properties | 1,600 | - | 1,600 | 2,086 | - | ||||||||||||||||||
Subtotal | 3,696 | 389 | 4,085 | 4,953 | 23 | ||||||||||||||||||
Commercial business loans | 1,996 | 584 | 2,580 | 2,693 | 105 | ||||||||||||||||||
Consumer loans | 412 | 167 | 579 | 805 | 10 | ||||||||||||||||||
Total impaired loans | $ | 12,079 | $ | 4,020 | $ | 16,099 | $ | 18,609 | $ | 283 | |||||||||||||
In the above table, the unpaid contractual principal balance represents the aggregate amounts legally owed to the Bank under the terms of the borrowers’ loan agreements. The recorded investment amounts shown above represent the unpaid contractual principal balance owed to the Bank less any amounts charged off based on collectability assessments by the Bank and less any amounts paid by borrowers on nonaccrual loans which were recognized as principal curtailments. | |||||||||||||||||||||||
The following table relates to interest income recognized by segment of impaired loans for the three months ended March 31, 2014 and 2013: | |||||||||||||||||||||||
Three Months ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||
Recorded | Recognized | Recorded | Recognized | ||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 6,896 | $ | 53 | $ | 5,231 | $ | 32 | |||||||||||||||
Construction and land development | 1,715 | 1 | 9,833 | 15 | |||||||||||||||||||
Multi-family and commercial real estate | 3,479 | 17 | 15,658 | 114 | |||||||||||||||||||
Commercial business loans | 1,931 | 22 | 3,910 | 23 | |||||||||||||||||||
Consumer loans | 539 | 5 | 448 | 3 | |||||||||||||||||||
Total | $ | 14,560 | $ | 98 | $ | 35,080 | $ | 187 | |||||||||||||||
Interest payments received on nonaccrual loans are accounted for on the cash-basis method or the cost recovery method until qualifying for return to accrual status. Under the cost recovery method, the interest payment is applied to the principal balance of the loan. The table above shows the interest income recognized on nonaccrual loans on the cash-basis method. For the three month periods ended March 31, 2014 and 2013, the amount of interest payments applied to principal under the cost recovery method was $61,000 and $71,000, respectively. | |||||||||||||||||||||||
Troubled Debt Restructured Loans | |||||||||||||||||||||||
A TDR is a restructuring in which the Bank, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to a borrower that it would not otherwise consider. TDRs are considered impaired and are separately measured for impairment, whether on accrual or nonaccrual status. | |||||||||||||||||||||||
Loan modifications are generally granted at the request of the individual borrower and may include concessions such as reduction in interest rates, changes in payments, maturity date extensions, or debt forgiveness/forbearance. TDRs are loans for which the original contractual terms of the loans have been modified and both of the following conditions exist: (i) the restructuring constitutes a concession (including reduction of interest rates or extension of maturity dates) and (ii) the borrower is either experiencing financial difficulties or absent such concessions, it is probable the borrower would experience financial difficulty complying with the original terms of the loan. Loans are not classified as TDRs when the modification is short-term or results in only an insignificant delay or shortfall in the payments to be received. The Company’s loan modifications are determined on a case-by-case basis in connection with ongoing loan collection processes. | |||||||||||||||||||||||
The recorded investment balance of performing and nonperforming TDRs as of March 31, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||||
(In thousands) | As of | As of | |||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Aggregate recorded investment of impaired loans performing under terms modified through a troubled debt restructuring: | |||||||||||||||||||||||
Performing (1) | $ | 4,494 | $ | 4,195 | |||||||||||||||||||
Nonperforming | 2,600 | 3,051 | |||||||||||||||||||||
Total | $ | 7,094 | $ | 7,246 | |||||||||||||||||||
-1 | Of the $4,494,000 in TDRs which were performing under the modified terms of their agreements at March 31, 2014, there were $2,169,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,169,000 in TDRs and the $2,600,000 nonperforming TDRs at March 31, 2014 equal the $4,769,000 in TDRs that were on nonaccrual status at March 31, 2014. | ||||||||||||||||||||||
Of the $4,195,000 in TDRs which were performing under the modified terms of their agreements at December 31, 2013, there were $2,379,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,379,000 in TDRs and the $3,051,000 nonperforming TDRs at December 31, 2013 equal the $5,430,000 in TDRs that were on nonaccrual status at December 31, 2013. | |||||||||||||||||||||||
As illustrated in the table below, during the three months ended March 31, 2014, the following concessions were made on five loans totaling $248,000 (measured as a percentage of loan balances on TDRs): | |||||||||||||||||||||||
· | Deferral of principal payments for 48.4% (1 loan for $120,000); | ||||||||||||||||||||||
· | Reduced interest rate for 12.1% (3 loans for $30,000); and | ||||||||||||||||||||||
· | Extension of payment terms for 39.5% (1 loan for $98,000). | ||||||||||||||||||||||
The following tables present a breakdown of the type of concessions made by loan class during the three months ended March 31, 2014 and March 31, 2013: | |||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | % | |||||||||||||||||||
Loans | Modification | Modification | |||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||
Commercial business loans | 3 | $ | 30 | $ | 30 | 12.1 | % | ||||||||||||||||
Subtotals | 3 | 30 | 30 | 12.1 | % | ||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||
Commercial business loans | 1 | 98 | 98 | 39.5 | % | ||||||||||||||||||
Subtotals | 1 | 98 | 98 | 39.5 | % | ||||||||||||||||||
Principal payments deferred | |||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||
One-to-four family | 1 | 120 | 120 | 48.4 | % | ||||||||||||||||||
Subtotals | 1 | 120 | 120 | 48.4 | % | ||||||||||||||||||
Grand Totals | 5 | $ | 248 | $ | 248 | 100 | % | ||||||||||||||||
For the Three Months Ended March 31, 2013 | |||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | % | |||||||||||||||||||
Loans | Modification | Modification | |||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||
Commercial business loans | 5 | $ | 393 | $ | 453 | 72.7 | % | ||||||||||||||||
Subtotals | 5 | 393 | 453 | 72.7 | % | ||||||||||||||||||
Principal payments deferred | |||||||||||||||||||||||
Commercial business loans | 1 | 170 | 170 | 27.3 | % | ||||||||||||||||||
Subtotals | 1 | 170 | 170 | 27.3 | % | ||||||||||||||||||
Grand Totals | 6 | $ | 563 | $ | 623 | 100 | % | ||||||||||||||||
The majority of the Bank’s TDRs are a result of granting extensions to troubled credits which have already been adversely classified. The Bank grants such an extension to reassess the borrower’s financial status and to develop a plan for repayment. Certain modifications with extension may also include interest rate reductions. These modifications did not have a material effect on the Company. | |||||||||||||||||||||||
The financial effects of each modification will vary based on the specific restructure. For some of the Bank’s TDRs, the loans were interest-only with a balloon payment at maturity. If the interest rate is not adjusted and the terms are consistent with the market, the Bank might not experience any loss associated with the restructure. If, however, the restructure involves forbearance agreements or interest rate modifications, the Bank might not collect all the principal and interest based on the original contractual terms. The Bank applies its procedures for placing TDRs on accrual or nonaccrual status using the same general guidance as for loans. The Bank estimates the necessary allowance for loan losses on TDRs using the same guidance as for other impaired loans. | |||||||||||||||||||||||
There were no TDRs that had been modified during the previous twelve months ended March 31, 2014 that subsequently defaulted or were charged off during the three months ended March 31, 2014. | |||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||
The allowance for loan losses (“ALLL”) is maintained at a level deemed appropriate by management to adequately provide for known and inherent risks in the loan portfolio. | |||||||||||||||||||||||
The allowance for loan losses is established through a provision for loan losses charged to operations. Management periodically reviews the allowance for loan losses in order to identify those known and inherent losses and to assess the overall collection probability for the loan portfolio. The evaluation process begins with an individual evaluation of loans that are considered impaired. For these loans, an allowance is established based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or for loans that are considered collateral dependent, the fair value of the collateral. | |||||||||||||||||||||||
All other loans are segregated into segments based on similar risk factors. Each of these groups is then evaluated based on several factors to estimate credit losses. Management will determine for each category of loans with similar risk characteristics the historical loss rate. Historical loss rates provide a reasonable starting point for the Bank’s analysis; however, this analysis and loss trends do not form a sufficient basis, by themselves, to determine the appropriate level of the loan loss allowance. Management also considers qualitative and environmental factors for each loan segment that are likely to impact, directly or indirectly, the inherent loss exposure of the loan portfolio. These factors include but are not limited to: changes in the amount and severity of delinquencies, non-accrual and adversely classified loans, changes in local, regional, and national economic conditions that will affect the collectability of the portfolio, changes in the nature and volume of loans in the portfolio, changes in concentrations of credit, lending area, industry concentrations, or types of borrowers, changes in lending policies, procedures, competition, management, portfolio mix, competition, pricing, loan to value trends, extension and modification requests, and loan quality trends. As of June 30, 2013, management added factors to more granularly assess loan quality trends, specifically, the changes and the trend in charge-offs and recoveries, changes in volume of Watch and Special Mention loans and the changes in the quality of the Bank’s loan review system. This analysis establishes factors that are applied to each of the segregated groups of loans to determine an appropriate level of loan loss allowance. | |||||||||||||||||||||||
The establishment of the allowance for loan losses is significantly affected by management’s judgment and uncertainties, and there is likelihood that different amounts would be reported under different conditions or assumptions. The OCC, as an integral part of its examination process, periodically reviews the allowance for loan losses and may require the Company to make additional provisions for estimated loan losses based upon judgments different from those of management. | |||||||||||||||||||||||
The allowance generally consists of specific (or allocated) and general components. The specific component relates to loans that are recognized as impaired. For such impaired loans, an allowance is established when the discounted cash flows (or observable market price or collateral value, if the loan is collateral dependent) of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. | |||||||||||||||||||||||
The ALLL balance decreased from $9.89 million at December 31, 2013 to $9.87 million at March 31, 2014, a decrease of $26,000, or 0.3%. This decrease in the ALLL was consistent with the improvement in the Bank’s asset quality trends during this three month period. During this period, the Bank’s nonperforming loans decreased $2.8 million, or 20.9%. The Bank’s adversely classified loans increased by $2.7 million, or 16.9%, primarily as a result of a downgrade of the Bank’s largest commercial real estate exposure of $4.3 million from Special Mention to Substandard – Accruing offset the solid underlying improvements in seven of nine loan concentrations. On this $4.3 million commercial real estate exposure, there was no impairment at March 31, 2014 based on the fair value of the underlying collateral. Management expects a positive resolution within six months to the recently downgraded exposure. These improvements in the Bank’s asset quality were attributable to the more aggressive workout efforts in the past three months which is a continuation of a trend initiated in mid-year 2013. | |||||||||||||||||||||||
As previously discussed in the Company’s Form 10-K for the year ended December 31, 2013, the Company adopted significant changes to its ALLL methodology as of June 30, 2013, including: | |||||||||||||||||||||||
· | Adoption of a two year weighted average as a basis for the calculation of its historical loss experience; | ||||||||||||||||||||||
· | Further disaggregated the commercial real estate loan segment to increase the granularity of the risks inherent in the loans in the expanded segments; and | ||||||||||||||||||||||
· | Changes in the utilization of qualitative risk adjustment factors (“Q factors”) including an increased number of these Q factors and a change in the calibration and application of the Q factors. | ||||||||||||||||||||||
As discussed in the Company’s filed Form 10-K for the year ended December 31, 2013, the Company also believes it has significantly improved its risk grades (and its risk grading process) over the past nine months during which the new executive management team has been in place at the Bank. This improvement has been the result of increased workout efforts, including the sale of $20.8 million in adversely classified loans in June 2013. | |||||||||||||||||||||||
The Company continues to monitor and modify its allowance for loan losses as conditions dictate. No assurances can be given that the level of allowance for loan losses will cover all of the inherent losses on the loans or that future adjustments to the allowance for loan losses will not be necessary if economic and other conditions differ substantially from the economic and other conditions used by management to determine the current level of the allowance for loan losses. | |||||||||||||||||||||||
The following tables set forth the balance of and transactions in the allowance for loan losses at March 31, 2014, December 31, 2013 and March 31, 2013, by portfolio segment, disaggregated by impairment methodology, which is then further segregated by loans evaluated for impairment individually and collectively. | |||||||||||||||||||||||
As of and for the Three Months | One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | |||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Ended March 31, 2014 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance | $ | 1,849 | $ | 5,097 | $ | 1,118 | $ | 1,443 | $ | 384 | $ | 9,891 | |||||||||||
Provision for loan losses | 117 | 177 | 84 | -309 | -69 | - | |||||||||||||||||
Charge-offs | -32 | -12 | -102 | -36 | -2 | -184 | |||||||||||||||||
Recoveries | - | - | 15 | 57 | 86 | 158 | |||||||||||||||||
Balance at March 31, 2014 | $ | 1,934 | $ | 5,262 | $ | 1,115 | $ | 1,155 | $ | 399 | $ | 9,865 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 49 | $ | 12 | $ | 21 | $ | 88 | $ | 46 | $ | 216 | |||||||||||
Collectively evaluated for impairment | 1,885 | 5,250 | 1,094 | 1,067 | 353 | 9,649 | |||||||||||||||||
Total Allowance | $ | 1,934 | $ | 5,262 | $ | 1,115 | $ | 1,155 | $ | 399 | $ | 9,865 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 6,790 | $ | 2,872 | $ | 1,584 | $ | 1,283 | $ | 499 | $ | 13,028 | |||||||||||
Ending loan balance collectively evaluated for impairment | 177,741 | 119,457 | 3,944 | 22,967 | 32,700 | 356,809 | |||||||||||||||||
Total Loans | $ | 184,531 | $ | 122,329 | $ | 5,528 | $ | 24,250 | $ | 33,199 | $ | 369,837 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
As of and for the Three Months | Investor one- | Industrial and | Office | Retail | Special Use | Total Multi- | |||||||||||||||||
to-four family | Warehouse | Buildings | Properties | Properties | Family and | ||||||||||||||||||
and multi- | Properties | Commercial | |||||||||||||||||||||
family | Real Estate | ||||||||||||||||||||||
Ended March 31, 2014 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance | 515 | $ | 1,034 | $ | 563 | $ | 856 | $ | 2,129 | $ | 5,097 | ||||||||||||
Provision for loan losses | -59 | 32 | 23 | 217 | -36 | 177 | |||||||||||||||||
Charge-offs | - | - | - | - | -12 | -12 | |||||||||||||||||
Recoveries | - | - | - | - | - | - | |||||||||||||||||
Balance at March 31, 2014 | $ | 456 | $ | 1,066 | $ | 586 | $ | 1,073 | $ | 2,081 | $ | 5,262 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 12 | $ | - | $ | 12 | |||||||||||
Collectively evaluated for impairment | 456 | 1,066 | 586 | 1,061 | 2,081 | 5,250 | |||||||||||||||||
Total Allowance | $ | 456 | $ | 1,066 | $ | 586 | $ | 1,073 | $ | 2,081 | $ | 5,262 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 1,154 | $ | 29 | $ | 206 | $ | 377 | $ | 1,106 | $ | 2,872 | |||||||||||
Ending loan balance collectively evaluated for impairment | 15,875 | 29,596 | 20,725 | 22,906 | 30,355 | 119,457 | |||||||||||||||||
Total Loans | $ | 17,029 | $ | 29,625 | $ | 20,931 | $ | 23,283 | $ | 31,461 | $ | 122,329 | |||||||||||
As of and for the Three Months | One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | |||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Ended March 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||
Beginning Balance | $ | 1,988 | $ | 4,892 | $ | 4,468 | $ | 2,725 | $ | 427 | $ | 14,500 | |||||||||||
Provision for loan losses | 50 | 200 | - | 50 | - | 300 | |||||||||||||||||
Charge-offs | -151 | -224 | -6 | -184 | - | -565 | |||||||||||||||||
Recoveries | - | 9 | - | 9 | - | 18 | |||||||||||||||||
Ending Balance | $ | 1,887 | $ | 4,877 | $ | 4,462 | $ | 2,600 | $ | 427 | $ | 14,253 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 49 | $ | 346 | $ | 117 | $ | 216 | $ | - | $ | 728 | |||||||||||
Collectively evaluated for impairment | 1,838 | 4,531 | 4,345 | 2,384 | 427 | 13,525 | |||||||||||||||||
Total Allowance | $ | 1,887 | $ | 4,877 | $ | 4,462 | $ | 2,600 | $ | 427 | $ | 14,253 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 5,132 | $ | 15,573 | $ | 9,843 | $ | 3,802 | $ | 445 | $ | 34,795 | |||||||||||
Ending loan balance collectively evaluated for impairment | 201,585 | 127,479 | 9,306 | 27,512 | 28,593 | 394,475 | |||||||||||||||||
Total Loans | $ | 206,717 | $ | 143,052 | $ | 19,149 | $ | 31,314 | $ | 29,038 | $ | 429,270 | |||||||||||
One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | ||||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 70 | $ | 23 | $ | 75 | $ | 105 | $ | 10 | $ | 283 | |||||||||||
Collectively evaluated for impairment | 1,779 | 5,074 | 1,043 | 1,338 | 374 | 9,608 | |||||||||||||||||
Total Allowance | $ | 1,849 | $ | 5,097 | $ | 1,118 | $ | 1,443 | $ | 384 | $ | 9,891 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 7,001 | $ | 4,085 | $ | 1,854 | $ | 2,580 | $ | 579 | $ | 16,099 | |||||||||||
Ending loan balance collectively evaluated for impairment | 179,984 | 119,049 | 3,755 | 22,926 | 28,702 | 354,416 | |||||||||||||||||
Total Loans | $ | 186,985 | $ | 123,134 | $ | 5,609 | $ | 25,506 | $ | 29,281 | $ | 370,515 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Investor one- | Industrial and | Office | Retail | Special Use | Total Multi- | ||||||||||||||||||
to-four family | Warehouse | Buildings | Properties | Properties | Family and | ||||||||||||||||||
and multi- | Properties | Commercial | |||||||||||||||||||||
family | Real Estate | ||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 23 | $ | - | $ | 23 | |||||||||||
Collectively evaluated for impairment | 515 | 1,034 | 563 | 833 | 2,129 | 5,074 | |||||||||||||||||
Total Allowance | $ | 515 | $ | 1,034 | $ | 563 | $ | 856 | $ | 2,129 | $ | 5,097 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 1,167 | $ | 565 | $ | 206 | $ | 547 | $ | 1,600 | $ | 4,085 | |||||||||||
Ending loan balance collectively evaluated for impairment | 15,205 | 29,431 | 21,206 | 22,973 | 30,234 | 119,049 | |||||||||||||||||
Total Loans | $ | 16,372 | $ | 29,996 | $ | 21,412 | $ | 23,520 | $ | 31,834 | $ | 123,134 | |||||||||||
The allowance for loan losses allocated to each portfolio segment is not necessarily indicative of future losses in any particular portfolio segment and does not restrict the use of the allowance to absorb losses in other portfolio segments. Our banking regulators, as an integral part of their examination process, periodically review our allowance for loan losses. The examination may require us to make additional provisions for loan losses based on judgments different from ours. The Company also periodically engages an independent consultant to review our credit risk grading process and the risk grades on selected portfolio segments as well as the methodology, analysis and adequacy of the allowance for loan and lease losses. | |||||||||||||||||||||||
Although we believe that we use the best information available to establish the allowance for loan losses, future adjustments to the allowance for loan losses may be necessary and results of operations could be adversely affected if circumstances differ substantially from the assumptions used in making the determinations. Furthermore, while we believe we have established our allowance for loan losses in conformity with generally accepted accounting principles, there can be no assurance that regulators, in reviewing our loan portfolio, will not request us to increase our allowance for loan losses. In addition, because further events affecting borrowers and collateral cannot be predicted with certainty, there can be no assurance that the existing allowance for loan losses is adequate or that increases will not be necessary should the quality of any loans deteriorate as a result of the factors discussed above. Any material increase in the allowance for loan losses may adversely affect our financial condition and results of operations. | |||||||||||||||||||||||
MORTGAGE_BANKING_ACTIVITY
MORTGAGE BANKING ACTIVITY | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Mortgage Banking [Abstract] | ' | |||||||
Mortgage Banking And Mortgage Servicing Rights Disclosure [Text Block] | ' | |||||||
NOTE 5 - MORTGAGE BANKING ACTIVITY | ||||||||
Mortgage banking includes two components: (1) the origination of residential mortgage loans for sale in the secondary market and (2) the servicing of mortgage loans sold to investors. The following represents the Company’s noninterest income derived from these activities: | ||||||||
For the Three Months | ||||||||
Ended March 31, | ||||||||
(In Thousands) | 2014 | 2013 | ||||||
Gain on sales of loans | $ | 131 | $ | 420 | ||||
Mortgage servicing income | 5 | 82 | ||||||
Total | $ | 136 | $ | 502 | ||||
The Bank originates government residential mortgage loans which are sold servicing released. The Bank also originates conventional residential mortgage loans for its portfolio and for sale, both on a servicing rights retained and released basis. | ||||||||
FORECLOSED_REAL_ESTATE
FORECLOSED REAL ESTATE | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Foreclosed Real Estate [Abstract] | ' | |||||||
Foreclosed Real Estate Disclosure [Text Block] | ' | |||||||
NOTE 6 – FORECLOSED REAL ESTATE | ||||||||
Changes in foreclosed real estate during the three months ended March 31, 2014 and March 31, 2013 are as follows: | ||||||||
For the Three Months Ended March 31, | ||||||||
(In thousands) | 2014 | 2013 | ||||||
Beginning Balance | $ | 1,846 | $ | 735 | ||||
Additions | 338 | - | ||||||
Proceeds from dispositions | -978 | -186 | ||||||
Loss on sales | -65 | -39 | ||||||
Writedowns | -27 | -12 | ||||||
Balance at end of period | $ | 1,114 | $ | 498 | ||||
At March 31, 2014, the Bank held seven properties consisting of one parcel of developed residential lots with an aggregate value of $0.5 million, four single family residences and two unimproved parcels — one zoned as commercial and the other zoned as residential. | ||||||||
The Company records the gain (loss) on sale of foreclosed real estate in the expenses on foreclosed properties, net category along with expenses for acquiring and maintaining foreclosed real estate properties. | ||||||||
DEPOSITS
DEPOSITS | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Deposits [Abstract] | ' | |||||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | |||||||||||||
NOTE 7 – DEPOSITS | ||||||||||||||
A summary of deposits at March 31, 2014 and December 31, 2013 consisted of the following: | ||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||
Amount | Percent | Amount | Percent | |||||||||||
Noninterest bearing demand deposits | $ | 65,158 | 16.8 | % | $ | 69,147 | 17.7 | % | ||||||
Interest bearing deposits | ||||||||||||||
Now accounts and money market accounts | 53,723 | 13.8 | % | 49,514 | 12.7 | % | ||||||||
Savings accounts | 115,672 | 29.8 | % | 117,004 | 29.9 | % | ||||||||
Certificates of deposit | 154,359 | 39.6 | % | 155,182 | 39.7 | % | ||||||||
Total interest bearing deposits | 323,754 | 83.2 | % | 321,700 | 82.3 | % | ||||||||
Total deposits | $ | 388,912 | 100 | % | $ | 390,847 | 100 | % | ||||||
Scheduled maturities of certificates of deposit are as follows: | ||||||||||||||
At March 31, 2014 | At December 31, 2013 | |||||||||||||
One year or less | $ | 72,979 | $ | 74,268 | ||||||||||
Over one year through three years | 56,141 | 50,858 | ||||||||||||
Over three years | 25,239 | 30,056 | ||||||||||||
$ | 154,359 | $ | 155,182 | |||||||||||
The aggregate amount of individual certificate of deposit accounts of $100,000 or more at March 31, 2014 and December 31, 2013 was $62.6 million and $62.5 million, respectively. Deposits up to $250,000 are federally insured through the Federal Deposit Insurance Corporation (“FDIC”). The aggregate amount of individual certificate of deposit accounts of $250,000 or more at March 31, 2014 and December 31, 2013 was $11.8 million and $11.5 million, respectively. | ||||||||||||||
FHLB_ADVANCES
FHLB ADVANCES | 3 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Long-Term Federal Home Loan Bank Advances [Abstract] | ' | ||||||||||||||
Long-term Debt [Text Block] | ' | ||||||||||||||
NOTE 8 – FHLB ADVANCES | |||||||||||||||
The Bank is a member of the Federal Home Loan Bank of Boston (“FHLB”). At March 31, 2014, the Bank had the ability to borrow from the FHLB based on a certain percentage of the value of the Bank’s qualified collateral, as defined in the FHLB Statement of Products Policy, at the time of the borrowing. In accordance with an agreement with the FHLB, the qualified collateral must be free and clear of liens, pledges and encumbrances. | |||||||||||||||
The following table presents certain information regarding our Federal Home Loan Bank advances during the periods or at the dates indicated. | |||||||||||||||
At March 31, 2014 | At December 31, 2013 | ||||||||||||||
(Dollars in thousands) | Amount | Weighted | Amount | Weighted | |||||||||||
Due (1) | Average | Due (1) | Average | ||||||||||||
Cost | Cost | ||||||||||||||
Year of maturity: | |||||||||||||||
2014 | $ | 8,943 | 0.68 | % | $ | 1,377 | 2.64 | % | |||||||
2015 | 5,533 | 0.68 | % | 1,500 | 0.8 | % | |||||||||
2016 | 12,717 | 0.81 | % | 2,800 | 0.9 | % | |||||||||
2017 - 2021 | 20,797 | 2.34 | % | 18,368 | 2.56 | % | |||||||||
2022 - 2026 | 622 | 0.27 | % | 638 | 0.27 | % | |||||||||
2027 - 2029 | 604 | - | 610 | - | |||||||||||
Total FHLB advances | $ | 49,216 | 1.42 | % | $ | 25,293 | 2.16 | % | |||||||
(1) Amount due includes scheduled principal payments on amortizing advances. | |||||||||||||||
The Bank is required to maintain an investment in capital stock of the FHLB in an amount that is based on a percentage of its outstanding residential first mortgage loans. The stock is bought from and sold to the Federal Home Loan Bank based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (a) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time this situation persists; (b) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to its operating performance; (c) the impact of legislative and regulatory changes on the customer base of the FHLB; and (d) the liquidity position of the FHLB. Management evaluated the stock and concluded that the stock was not impaired for the periods presented herein. | |||||||||||||||
OTHER_BORROWED_FUNDS
OTHER BORROWED FUNDS | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
NOTE 9 – OTHER BORROWED FUNDS | |||||||||
The Bank utilizes securities sold under agreements to repurchase to accommodate its customers’ needs to invest funds short term and as a source of borrowings. | |||||||||
The following table presents certain information regarding our repurchase agreements during the year to date periods or at the dates indicated. | |||||||||
At or for the year to date period ended | |||||||||
(Dollars in thousands) | March 31, 2014 | December 31, 2013 | |||||||
Maximum amount of advances outstanding during the period | $ | 8,355 | $ | 21,256 | |||||
Average advances outstanding during the period | $ | 6,530 | $ | 10,866 | |||||
Weighted average interest rate during the period | 0.01 | % | 0.24 | % | |||||
Balance outstanding at end of period | $ | 6,185 | $ | 4,173 | |||||
Weighted average interest rate at end of period | 0.01 | % | 0.01 | % | |||||
The Bank maintains a credit facility with the Federal Reserve Bank of Boston for which certain assets are pledged to secure such borrowings. As of March 31, 2014 and December 31, 2013, there were no borrowings outstanding under this facility. In addition, the Federal Reserve Bank of Boston, as one of the Bank’s correspondent banks, requires the Bank to pledge at least $1 million in loans and/or investment securities for potential daylight overdraft exposure. At March 31, 2014 and December 31, 2013, the Bank had $3.3 million and $3.4 million, respectively, in commercial real estate loans pledged with the Federal Reserve Bank of Boston. | |||||||||
At March 31, 2014, the Bank had reserve requirements with the Federal Reserve Bank of Boston amounting to $2.6 million. In addition to the Bank’s $2.2 million in vault cash, the use of $0.4 million in balances held at the Federal Reserve Bank of Boston was restricted to meet these reserve requirements. | |||||||||
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Stockholders Equity Note [Abstract] | ' | |||||||
Stockholders Equity Note Disclosure [Text Block] | ' | |||||||
NOTE 10 – STOCKHOLDERS’ EQUITY | ||||||||
Income (Loss) Per Share | ||||||||
Basic net income (loss) per common share is calculated by dividing the net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed in a manner similar to basic net income (loss) 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. The Company’s common stock equivalents relate solely to stock option and restricted stock awards. Anti-dilutive shares are common stock equivalents with weighted-average exercise prices in excess of the weighted-average market value for the periods presented. For the three months ended March 31, 2014, anti-dilutive options excluded from the calculations totaled 102,996 options (with an exercise price of $11.12 per share) and 4,290 options (with an exercise price of $12.51 per share). For the three months ended March 31, 2013, anti-dilutive options excluded from the calculations totaled 192,994 options (with an exercise price of $11.12 per share) and 4,290 options (with an exercise price of $12.51 per share). Unreleased common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating either basic or diluted net income per common share. | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Net loss | $ | -809,000 | $ | -591,000 | ||||
Weighted-average common shares outstanding: | ||||||||
Basic | 6,675,457 | 6,643,093 | ||||||
Diluted | 6,675,457 | 6,643,093 | ||||||
Loss per common share; | ||||||||
Basic | $ | -0.12 | $ | -0.09 | ||||
Diluted | $ | -0.12 | $ | -0.09 | ||||
Dividends | ||||||||
The ability of the Company to pay dividends depends, in part, on the ability of the Bank to pay dividends to the Company. Due to current regulatory restrictions, the Company is not allowed to pay dividends to the Company’s shareholders and the Bank is not allowed to pay dividends to the Company. | ||||||||
STOCK_BASED_COMPENSATION
STOCK BASED COMPENSATION | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
NOTE 11 – STOCK BASED COMPENSATION | |
Stock options generally vest over six years and expire ten years after the date of the grant. The vesting schedule for stock options is 0% in year one and 20% annually for years two through six. Restricted stock vests ratably over five years. The Company has not granted any stock options, nor any restricted stock awards since July 26, 2008. During the three months ended March 31, 2014, there were no stock options exercised. | |
FINANCIAL_INSTRUMENTS_WITH_OFF
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Disclosure Text Block Supplement [Abstract] | ' | |||||||
Financial Instruments Disclosure [Text Block] | ' | |||||||
NOTE 12 – FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK | ||||||||
In the normal course of business, the Company is a party to financial instruments with off-balance-sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the financial statements. The contractual amounts of these instruments reflect the extent of involvement the Company has in particular classes of financial instruments. | ||||||||
The contractual amounts of commitments to extend credit represents the amounts of potential accounting loss should the contract be fully drawn upon, the customer defaults, and the value of any existing collateral becomes worthless. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments and evaluates each customer’s creditworthiness on a case-by-case basis. | ||||||||
The Company controls the credit risk of these financial instruments through credit approvals, credit limits, monitoring procedures and the receipt of collateral that it deems necessary. | ||||||||
Financial instruments whose contractual amounts represent credit risk at March 31, 2014 and December 31, 2013 were as follows: | ||||||||
March 31, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Commitments to extend credit: | ||||||||
Commercial real estate loan commitments | $ | 23,576 | $ | 12,572 | ||||
Unused home equity lines of credit | 19,148 | 19,169 | ||||||
Commercial and industrial loan commitments | 10,052 | 10,153 | ||||||
Amounts due on other commitments | 6,870 | 6,618 | ||||||
Commercial letters of credit | 1,182 | 1,371 | ||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments to extend credit generally have fixed expiration dates or other termination clauses and may require payment of a fee by the borrower. Since these commitments could expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counter-party. Collateral held varies, but may include residential and commercial property, deposits and securities. | ||||||||
FAIR_VALUE
FAIR VALUE | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||
NOTE 13 – FAIR VALUE | ||||||||||||||||
The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. A description of the valuation methodologies used for assets and liabilities recorded at fair value, and for estimating fair value for financial and non-financial instruments not recorded at fair value, is set forth below: | ||||||||||||||||
Cash and cash equivalents—The carrying amounts for cash and due from banks and federal funds sold approximate fair value because of the short maturities of those investments. The Company does not record these assets at fair value on a recurring basis. These assets are classified as Level 1 within the fair value hierarchy. | ||||||||||||||||
Available for sale and held to maturity securities—Where quoted prices are available in an active market, the securities are classified within Level 1 of the valuation hierarchy. Examples of such instruments include mutual funds. If quoted prices are not available, then fair values are estimated by using pricing models (i.e., matrix pricing) or quoted prices of securities with similar characteristics and the securities are classified within Level 2 of the valuation hierarchy. Examples of such instruments include U.S. government agency bonds, U.S. government agency mortgage-backed securities and private label collateralized mortgage obligations. The auction rate trust preferred securities (“ARPs”) that were held as of December 31, 2013 were identified as “impermissible” investments under Volcker rule interpretations by the OCC and as such, the Company liquidated these securities in February 2014. Based on management’s assessment as of December 31, 2013 that the ARPs market is not an active one and to liquidate these securities would require a “forced redemption” from the trust to request delivery of the underlying preferred stock collateral for sale, the Company calculated the fair value (and the determination of the OTTI) on these securities at December 31, 2013 utilizing the current market prices of the underlying preferred stock and classified these investments as a Level 2 in the fair value hierarchy. Securities classified within Level 3 of the valuation hierarchy are securities for which significant unobservable inputs are utilized. Available for sale securities are recorded at fair value on a recurring basis and held to maturity securities are only disclosed at fair value. | ||||||||||||||||
Loans held for sale—The carrying amounts of these assets approximate fair value because these loans, are generally sold through forward sales (either already contracted or soon to be executed at the recording date). The Company does not record these assets at fair value on a recurring basis. These assets are classified as Level 2 within the fair value hierarchy. | ||||||||||||||||
Loans receivable—For variable rate loans that reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the loan portfolio. The fair value of fixed rate loans is estimated by discounting the future cash flows using estimated period end market rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the loan portfolio. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for credit losses is established. The specific reserves for collateral dependent impaired loans are based on the fair value of collateral less estimated costs to sell. The fair value of collateral is determined based on appraisals. In some cases, adjustments are made to the appraised values due to various factors including age of the appraisal, age of comparables included in the appraisal, and known changes in the market and in the collateral. When significant adjustments are based on unobservable inputs, the resulting fair value measurement is categorized as a Level 3 measurement. | ||||||||||||||||
Accrued interest receivable—The carrying amount approximates fair value. The Company does not record these assets at fair value on a recurring basis. These assets are classified as Level 1 within the fair value hierarchy. | ||||||||||||||||
Mortgage servicing assets—The fair value is based on market prices for comparable servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The Company does not record these assets at fair value on a recurring basis. Servicing assets are classified as Level 2 within the fair value hierarchy. | ||||||||||||||||
Federal Home Loan Bank stock —The Bank is a member of the FHLB and is required to maintain an investment in capital stock of the FHLB. The carrying amount is a reasonable estimate of fair value. The Company does not record this asset at fair value on a recurring basis. Based on redemption provisions, the stock of the FHLB has no quoted market value and is carried at cost. FHLB stock is classified as Level 3 within the fair value hierarchy. | ||||||||||||||||
Foreclosed real estate— Foreclosed real estate represents real estate acquired through or in lieu of foreclosure and which are recorded at fair value on a nonrecurring basis. Fair value is based upon appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company classifies the fair value measurement as Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company classifies the fair value measurement as Level 3. The Company classified these assets as Level 3 within the fair value hierarchy. | ||||||||||||||||
Deposit liabilities—The fair value of demand deposits, savings and money market deposits is the amount payable on demand at the reporting date. The fair value of certificates of deposit is estimated using a discounted cash flow calculation that applies interest rates currently being offered by market participants for deposits of similar remaining maturities, estimated using local market data, to a schedule of aggregated expected maturities of such deposits. The Company does not record deposits at fair value on a recurring basis. Demand deposits, savings and money market deposits are classified as Level 1 within the fair value hierarchy. Certificates of deposit are classified as Level 2 within the fair value hierarchy. | ||||||||||||||||
Borrowed funds—The fair value of FHLB advances and other borrowed funds (repurchase agreements) are estimated using discounted cash flow analyses based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The Company does not record this liability at fair value on a recurring basis. FHLB advances and other borrowings are classified as Level 2 within the fair value hierarchy. | ||||||||||||||||
Accrued interest payable—The carrying amounts approximates fair value. The Company does not record the liability at fair value on a recurring basis. This liability is classified as Level 1 within the fair value hierarchy. | ||||||||||||||||
Mortgagors’ escrow accounts—The carrying amount approximates fair value. The Company does not record this liability at fair value on a recurring basis. This liability is classified as Level 2 within the fair value hierarchy. | ||||||||||||||||
The following is a summary of the carrying values and estimated fair values of the Company’s significant financial instruments as of March 31, 2014 and December 31, 2013: | ||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||
(In thousands) | Fair Value | Carrying | Fair | Carrying | Fair | |||||||||||
Hierarchy Level | Value | Value | Value | Value | ||||||||||||
Financial Assets | ||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 9,620 | $ | 9,620 | $ | 26,374 | $ | 26,374 | |||||||
Investment securities, available-for-sale: | ||||||||||||||||
Mutual fund -fixed income securities | Level 1 | 502 | 502 | 499 | 499 | |||||||||||
Other | Level 2 | 87,285 | 87,285 | 49,272 | 49,272 | |||||||||||
Investment securities, held-to-maturity | Level 2 | 16,890 | 17,057 | 18,149 | 18,243 | |||||||||||
Loans held for sale | Level 2 | 676 | 676 | 1,079 | 1,079 | |||||||||||
Loans receivable, net: | ||||||||||||||||
Performing | Level 2 | 346,897 | 349,793 | 344,468 | 347,496 | |||||||||||
Impaired | Level 3 | 13,028 | 12,812 | 16,100 | 15,816 | |||||||||||
Accrued interest receivable | Level 1 | 1,735 | 1,735 | 1,494 | 1,494 | |||||||||||
Mortgage servicing assets | Level 3 | 1,035 | 1,648 | 1,093 | 1,598 | |||||||||||
FHLB Stock | Level 3 | 5,444 | 5,444 | 5,444 | 5,444 | |||||||||||
Financial Liabilities | ||||||||||||||||
Demand deposits, savings, Now and money market deposits | Level 1 | 234,553 | 234,553 | 235,665 | 235,665 | |||||||||||
Time deposits | Level 2 | 154,359 | 156,607 | 155,182 | 157,591 | |||||||||||
FHLB advances | Level 2 | 49,216 | 49,776 | 25,293 | 25,942 | |||||||||||
Borrowed funds | Level 2 | 6,185 | 6,185 | 4,173 | 4,173 | |||||||||||
Mortgagors' escrow accounts | Level 2 | 2,263 | 2,263 | 4,392 | 4,392 | |||||||||||
Accrued interest payable | Level 1 | 66 | 66 | 51 | 51 | |||||||||||
The Company discloses fair value information about financial instruments, whether or not recognized in the statement of financial condition, for which it is practicable to estimate that value. Certain financial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. | ||||||||||||||||
The estimated fair value amounts as of March 31, 2014 and December 31, 2013 have been measured as of their respective period-ends and have not been reevaluated 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 the respective reporting dates may be different than amounts reported at such dates. | ||||||||||||||||
The information presented should not be interpreted as an estimate of the fair value of the Company as a whole since a fair value calculation is only required for a limited portion of the Company’s assets and liabilities. Due to the 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 Company uses fair value measurements to record available-for sale investment securities and residential loans held for sale at fair value on a recurring basis. Additionally, the Company uses fair value measurements to measure the reported amounts of impaired loans, foreclosed real estate and mortgage-servicing rights at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically involve the application of lower-of-cost-or market value accounting or write-downs of individual assets. | ||||||||||||||||
Unrecognized financial instruments—Loan commitments on which the committed interest rate is less than the current market rate were insignificant at March 31, 2014 and December 31, 2013. | ||||||||||||||||
The following table represents a further breakdown of investment securities and other financial instruments measured at fair value on a recurring basis. | ||||||||||||||||
Fair Value At March 31, 2014 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a recurring basis: | ||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Government and agency obligations | $ | - | $ | 42,233 | $ | - | $ | 42,233 | ||||||||
U.S. Government agency mortgage-backed obligations | - | 29,242 | - | 29,242 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | - | 8,674 | - | 8,674 | ||||||||||||
Small Business Administration loan pools | - | 2,027 | - | 2,027 | ||||||||||||
Obligations of state and municipal subdivisions | - | 4,861 | - | 4,861 | ||||||||||||
Private label collateralized mortgage obligations | - | 248 | - | 248 | ||||||||||||
Mutual fund - fixed income securities | 502 | - | - | 502 | ||||||||||||
Fair Value At December 31, 2013 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a recurring basis: | ||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Government and agency obligations | $ | - | $ | 16,506 | $ | - | $ | 16,506 | ||||||||
U.S. Government agency mortgage-backed obligations | - | 22,869 | - | 22,869 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | - | 3,738 | - | 3,738 | ||||||||||||
Private label collateralized mortgage obligations | - | 266 | - | 266 | ||||||||||||
Auction-rate trust preferred securities | - | 5,893 | - | 5,893 | ||||||||||||
Mutual fund - fixed income securities | 499 | - | - | 499 | ||||||||||||
The following table represents assets measured at fair value on a non-recurring basis. | ||||||||||||||||
Fair Value At March 31, 2014 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a non-recurring basis: | ||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 12,812 | $ | 12,812 | ||||||||
Foreclosed real estate | - | - | 1,114 | 1,114 | ||||||||||||
Mortgage servicing rights | - | - | 1,648 | 1,648 | ||||||||||||
Fair Value At December 31, 2013 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a non-recurring basis: | ||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 15,816 | $ | 15,816 | ||||||||
Foreclosed real estate | - | - | 1,846 | 1,846 | ||||||||||||
Mortgage servicing rights | - | - | 1,598 | 1,598 | ||||||||||||
During the three months ended March 31, 2014, the following fair values of those reflected in the above table were remeasured: | ||||||||||||||||
⋅ | $729,000 in collateral dependent impaired loans, | |||||||||||||||
⋅ | $159,000 in foreclosed real estate, and | |||||||||||||||
⋅ | $1.6 million in mortgage servicing rights. | |||||||||||||||
Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. | ||||||||||||||||
The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent management believes necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. | ||||||||||||||||
Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and by investing in securities with terms that mitigate the Company’s overall interest rate risk. | ||||||||||||||||
DESCRIPTION_OF_BUSINESS_AND_BA1
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Business Description Policy [Policy Text Block] | ' |
Description of Business | |
Naugatuck Valley Financial Corporation (“Naugatuck Valley Financial” or the “Company”) is a stock savings and loan holding company incorporated in the State of Maryland. The Company is primarily engaged in the business of planning, directing and coordinating the business activities of its wholly-owned subsidiary bank, Naugatuck Valley Savings and Loan (“Naugatuck Valley Savings” or the “Bank”). The Company became the holding company for the Bank effective June 29, 2011. | |
Naugatuck Valley Savings is a federally chartered stock savings association and has served its customers in Connecticut since 1922. The Bank operates as a community-oriented financial institution dedicated to serving the financial services needs of consumers and businesses with a variety of deposit and lending products from its full service banking offices in the Greater Naugatuck Valley region of southwestern Connecticut. The Bank attracts deposits from the general public and uses those funds to originate one-to-four family, multi-family and commercial real estate, construction, commercial business and consumer loans. | |
Naugatuck Valley Savings has two wholly owned subsidiaries, Naugatuck Valley Mortgage Servicing Corporation and Church Street OREO One, LLC. Naugatuck Valley Mortgage Servicing Corporation qualifies and operates as a passive investment company pursuant to Connecticut regulation. Church Street OREO One, LLC was established in February 2013 to hold properties acquired through foreclosure as well as from nonjudicial proceedings. | |
Basis Of Presentation Policy [Policy Text Block] | ' |
Basis of Presentation | |
The accompanying consolidated interim financial statements are unaudited and include the accounts of the Company, the Bank, and the Bank’s wholly owned subsidiaries, Naugatuck Valley Mortgage Servicing Corporation and Church Street OREO One, LLC. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the December 31, 2013 audited Consolidated Financial Statements and the accompanying Notes included in our Annual Report on Form 10-K. All significant intercompany accounts and transactions have been eliminated in consolidation. These consolidated financial statements reflect, in the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and the results of its operations and its cash flows at the dates and for the periods presented. | |
In preparing the consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statement of condition, and the reported amounts of income and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near-term relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans, deferred income taxes and the valuation of and the evaluation for other than temporary impairment (“OTTI”) on investment securities. While management uses available information to recognize losses and properly value these assets, future adjustments may be necessary based on changes in economic conditions both in Connecticut and nationally. | |
The Company’s only business segment is Community Banking. This segment represented all the revenues, income and assets of the consolidated Company and therefore, is the only reported segment as defined by FASB ASC 820, Segment Reporting. | |
Management has evaluated subsequent events for potential recognition or disclosure in the consolidated financial statements as of the date of this filing. No subsequent events were identified that would have required a change to the consolidated financial statements or disclosure in the notes to the consolidated financial statements. | |
Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. | |
Certain reclassifications have been made to the prior period amounts to conform with the March 31, 2014 consolidated financial statement presentation. These reclassifications only changed the reporting categories and did not affect the Company’s results of operations or financial position. | |
Basis of Accounting, Policy [Policy Text Block] | ' |
Significant Accounting Policies | |
The significant accounting policies used in preparation of our consolidated financial statements are disclosed in our 2013 Annual Report on Form 10-K. There have not been any material changes in our significant accounting policies compared with those contained in our Form 10-K disclosure for the year ended December 31, 2013. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently Issued Accounting Pronouncements | |
Income Taxes- Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists: (a consensus of the FASB Emerging Issues Task Force). In July 2013, the FASB issued ASU 2013-11. Per this ASU, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The ASU became effective during the three months ended March 31, 2014. The adoption of this guidance has not had a material impact on the Company’s consolidated financial statements. | |
Receivables – Troubled Debt Restructurings by Creditors: In January 2014, the FASB issued ASU 2014-04. This update clarifies that when an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan, upon either: (i) the creditor obtaining legal title to the property upon completion of the foreclosure; or (ii) the borrower conveying all interest in the property to the creditor to satisfy the loan through completion of a deed-in-lieu of foreclosure or through a similar legal agreement. ASU 2014-04 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014 and is not expected to have a material impact upon the Company’s consolidated financial statements. | |
REGULATORY_MATTERS_Tables
REGULATORY MATTERS (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||||||
Schedule of Capital Units [Table Text Block] | ' | |||||||||||||||||||
The following tables are summaries of the Company’s consolidated capital amounts and ratios and the Bank’s actual capital amounts and ratios as computed under the standards established by the Federal Deposit Insurance Act at March 31, 2014 and December 31, 2013. | ||||||||||||||||||||
At March 31, 2014 | Adequately Capitalized | Individual Minimum | Actual | |||||||||||||||||
Requirements | Capital Requirements (3) | |||||||||||||||||||
(Dollars in thousands) | $ | % | $ | % | $ | % | ||||||||||||||
The Company Consolidated | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | N/A | N/A | N/A | N/A | $ | 57,514 | 11.35 | % | ||||||||||||
Tier 1 Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 57,514 | 17.96 | % | |||||||||||||
Total Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 61,589 | 19.23 | % | |||||||||||||
The Bank | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | $ | 20,354 | 4 | % | $ | 45,797 | 9 | % | $ | 53,147 | 10.44 | % | ||||||||
Tier 1 Risk-Based Capital (2) | 12,886 | 4 | % | N/A | N/A | 53,147 | 16.5 | % | ||||||||||||
Total Risk-Based Capital (2) | 25,772 | 8 | % | 41,879 | 13 | % | 57,246 | 17.77 | % | |||||||||||
(1) Tier 1 capital to total assets. | ||||||||||||||||||||
(2) Tier 1 or total risk-based capital to risk-weighted assets. | ||||||||||||||||||||
(3) Effective June 4, 2013. | ||||||||||||||||||||
At December 31, 2013 | Adequately Capitalized | Individual Minimum | Actual | |||||||||||||||||
Requirements | Capital Requirements (3) | |||||||||||||||||||
(Dollars in thousands) | $ | % | $ | % | $ | % | ||||||||||||||
The Company Consolidated | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | N/A | N/A | N/A | N/A | $ | 58,323 | 11.98 | % | ||||||||||||
Tier 1 Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 58,323 | 18.21 | % | |||||||||||||
Total Risk-Based Capital (2) | N/A | N/A | N/A | N/A | 62,399 | 19.49 | % | |||||||||||||
The Bank | ||||||||||||||||||||
Tier 1 Leverage Capital (1) | $ | 19,545 | 4 | % | $ | 43,977 | 9 | % | $ | 53,946 | 11.04 | % | ||||||||
Tier 1 Risk-Based Capital (2) | 12,891 | 4 | % | N/A | N/A | 53,946 | 16.74 | % | ||||||||||||
Total Risk-Based Capital (2) | 25,783 | 8 | % | 41,897 | 13 | % | 58,047 | 18.01 | % | |||||||||||
(1) Tier 1 capital to total assets. | ||||||||||||||||||||
(2) Tier 1 or total risk-based capital to risk-weighted assets. | ||||||||||||||||||||
(3) Effective June 4, 2013. | ||||||||||||||||||||
INVESTMENT_SECURITIES_Tables
INVESTMENT SECURITIES (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Schedule Of Available For Sale Securities and Held To Maturity Securities [Table Text Block] | ' | |||||||||||||||||||
At March 31, 2014, the composition of the investment portfolio was: | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Government and agency obligations | $ | 42,185 | $ | 202 | $ | -154 | $ | 42,233 | ||||||||||||
Asset-backed securities | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | 29,028 | 602 | -388 | 29,242 | ||||||||||||||||
U.S. Government agency collateralized mortgage obligations | 8,635 | 47 | -8 | 8,674 | ||||||||||||||||
Small Business Administration loan pools | 2,015 | 12 | - | 2,027 | ||||||||||||||||
Private label collateralized mortgage obligations | 252 | - | -4 | 248 | ||||||||||||||||
Obligations of state and municipal subdivisions | 4,825 | 36 | - | 4,861 | ||||||||||||||||
Mutual fund - fixed income securities | 500 | 2 | - | 502 | ||||||||||||||||
Total available-for-sale securities | $ | 87,440 | $ | 901 | $ | -554 | $ | 87,787 | ||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 16,890 | $ | 176 | $ | -9 | $ | 17,057 | ||||||||||||
Total held-to-maturity securities | $ | 16,890 | $ | 176 | $ | -9 | $ | 17,057 | ||||||||||||
At December 31, 2013, the composition of the investment portfolio was: | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||
U.S. Government and agency obligations | $ | 16,601 | $ | 35 | $ | -130 | $ | 16,506 | ||||||||||||
U.S. Government agency mortgage-backed securities | 22,874 | 527 | -532 | 22,869 | ||||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,736 | 11 | -9 | 3,738 | ||||||||||||||||
Private label collateralized mortgage obligations | 258 | 8 | - | 266 | ||||||||||||||||
Auction-rate trust preferred securities | 5,893 | - | - | 5,893 | ||||||||||||||||
Mutual fund - fixed income securities | 500 | - | -1 | 499 | ||||||||||||||||
Total available-for-sale securities | $ | 49,862 | $ | 581 | $ | -672 | $ | 49,771 | ||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
(In thousands) | Cost Basis | Gains | Losses | Value | ||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 18,149 | $ | 134 | $ | -40 | $ | 18,243 | ||||||||||||
Total held-to-maturity securities | $ | 18,149 | $ | 134 | $ | -40 | $ | 18,243 | ||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||
The following is a summary of the fair values and related unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2014, and December 31, 2013: | ||||||||||||||||||||
At March 31, 2014 | Less than 12 Months | 12 Months or Greater | Total | |||||||||||||||||
(Dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||
Loss | Loss | Loss | ||||||||||||||||||
U.S. Government agency obligations | $ | 10,745 | $ | 154 | $ | - | $ | - | $ | 10,745 | $ | 154 | ||||||||
U.S. Government agency mortgage-backed securities | 12,428 | 387 | 66 | 1 | 12,494 | 388 | ||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,043 | 8 | - | - | 3,043 | 8 | ||||||||||||||
Private label collateralized mortgage obligations | 248 | 4 | - | - | 248 | 4 | ||||||||||||||
Total securities in unrealized loss position | $ | 26,464 | $ | 553 | $ | 66 | $ | 1 | $ | 26,530 | $ | 554 | ||||||||
At December 31, 2013 | Less than 12 Months | 12 Months or Greater | Total | |||||||||||||||||
(Dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | ||||||||||||||
Loss | Loss | Loss | ||||||||||||||||||
U.S. Government agency obligations | $ | 9,865 | $ | 130 | $ | - | $ | - | $ | 9,865 | $ | 130 | ||||||||
U.S. Government agency mortgage-backed securities | 8,075 | 531 | 65 | 1 | 8,140 | 532 | ||||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,228 | 9 | - | - | 3,228 | 9 | ||||||||||||||
Mutual fund - fixed Income securities | 499 | 1 | - | - | 499 | 1 | ||||||||||||||
Total securities in unrealized loss position | $ | 21,667 | $ | 671 | $ | 65 | $ | 1 | $ | 21,732 | $ | 672 | ||||||||
Schedule Of Amortized Cost and Fair Value Of Securities and Held To Maturity [Table Text Block] | ' | |||||||||||||||||||
The amortized cost and fair value of securities at March 31, 2014 and December 31, 2013, by expected maturity, are set forth below. Actual maturities of mortgage-backed securities and collateralized mortgage obligations may differ from contractual maturities because the mortgages underlying the securities may be prepaid or called with or without call or prepayment penalties. Because these securities are not due at a single maturity date, the maturity information is not presented. | ||||||||||||||||||||
Available-for-Sale | Held-to-Maturity | |||||||||||||||||||
At March 31, 2014 | Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||
Cost | Cost | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 29,028 | $ | 29,242 | $ | 16,890 | $ | 17,057 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | 8,635 | 8,674 | - | - | ||||||||||||||||
Small Business Administration loan pools | 2,015 | 2,027 | ||||||||||||||||||
Private label collateralized mortgage obligations | 252 | 248 | - | - | ||||||||||||||||
Mutual fund - fixed Income securities | 500 | 502 | - | - | ||||||||||||||||
Subtotal | 40,430 | 40,693 | 16,890 | 17,057 | ||||||||||||||||
Securities with Fixed Maturities: | ||||||||||||||||||||
Due in one year or less | - | - | - | - | ||||||||||||||||
Due after one year through five years | 5,051 | 5,075 | - | - | ||||||||||||||||
Due after five years through ten years | 22,337 | 22,344 | - | - | ||||||||||||||||
Due after ten years | 19,622 | 19,675 | - | - | ||||||||||||||||
Subtotal | 47,010 | 47,094 | - | - | ||||||||||||||||
Grand totals | $ | 87,440 | $ | 87,787 | $ | 16,890 | $ | 17,057 | ||||||||||||
Available-for-Sale | Held-to-Maturity | |||||||||||||||||||
At December 31, 2013 | Amortized | Fair Value | Amortized | Fair Value | ||||||||||||||||
Cost | Cost | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
U.S. Government agency mortgage-backed securities | $ | 22,874 | $ | 22,869 | $ | 18,149 | $ | 18,243 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | 3,736 | 3,738 | - | - | ||||||||||||||||
Private label collateralized mortgage obligations | 258 | 266 | - | - | ||||||||||||||||
Mutual fund - fixed Income securities | 500 | 499 | - | - | ||||||||||||||||
Subtotal | 27,368 | 27,372 | 18,149 | 18,243 | ||||||||||||||||
Securities with fixed Maturities: | ||||||||||||||||||||
Due in one year or less | - | - | ||||||||||||||||||
Due after one year through five years | 6,606 | 6,641 | - | - | ||||||||||||||||
Due after five years through ten years | 9,995 | 9,865 | - | - | ||||||||||||||||
Due after ten years | 5,893 | 5,893 | - | - | ||||||||||||||||
Subtotal | 22,494 | 22,399 | - | - | ||||||||||||||||
Grand totals | $ | 49,862 | $ | 49,771 | $ | 18,149 | $ | 18,243 | ||||||||||||
LOANS_RECEIVABLE_Tables
LOANS RECEIVABLE (Tables) | 3 Months Ended | ||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||
Schedule Of Classification Of Loans Receivable [Table Text Block] | ' | ||||||||||||||||||||||
A summary of loans receivable at March 31, 2014 and December 31, 2013 is as follows: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | |||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||
One-to-four family | $ | 184,531 | $ | 186,985 | |||||||||||||||||||
Multi-family and commercial real estate | 122,329 | 123,134 | |||||||||||||||||||||
Construction and land development | 5,528 | 5,609 | |||||||||||||||||||||
Total real estate loans | 312,388 | 315,728 | |||||||||||||||||||||
Commercial business loans | 24,250 | 25,506 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity | 27,267 | 26,960 | |||||||||||||||||||||
Other consumer | 5,932 | 2,321 | |||||||||||||||||||||
Total consumer loans | 33,199 | 29,281 | |||||||||||||||||||||
Total loans | 369,837 | 370,515 | |||||||||||||||||||||
Less: | |||||||||||||||||||||||
Allowance for loan losses | 9,865 | 9,891 | |||||||||||||||||||||
Deferred loan origination fees, net | 47 | 56 | |||||||||||||||||||||
Loans receivable, net | $ | 359,925 | $ | 360,568 | |||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||
The following tables are a summary of the loan portfolio credit quality indicators, by loan class, as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
March 31, 2014 | One-to-Four | Multi-Family and | Construction and | Commercial | Consumer Loans | Total | |||||||||||||||||
Family | Commercial Real | Land | Business Loans | ||||||||||||||||||||
Estate | Development | ||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 178,689 | $ | 98,536 | $ | 3,490 | $ | 19,080 | $ | 32,641 | $ | 332,436 | |||||||||||
Special Mention | 754 | 13,934 | 454 | 3,042 | 268 | 18,452 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | 97 | 6,987 | - | 1,233 | 42 | 8,359 | |||||||||||||||||
- Nonaccruing | 4,991 | 2,872 | 1,584 | 805 | 248 | 10,500 | |||||||||||||||||
Subtotal - substandard | 5,088 | 9,859 | 1,584 | 2,038 | 290 | 18,859 | |||||||||||||||||
Doubtful | - | - | - | 90 | - | 90 | |||||||||||||||||
Total | $ | 184,531 | $ | 122,329 | $ | 5,528 | $ | 24,250 | $ | 33,199 | $ | 369,837 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
March 31, 2014 | Investor Owned | Industrial and | Office Buildings | Retail Properties | Special Use | Total Multi-Family | |||||||||||||||||
One-to-Four | Warehouse | Properties | and Commercial | ||||||||||||||||||||
family and multi- | Properties | Real Estate | |||||||||||||||||||||
family | |||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 13,524 | $ | 23,728 | $ | 17,609 | $ | 17,655 | $ | 26,020 | $ | 98,536 | |||||||||||
Special Mention | 2,351 | 4,724 | 2,644 | 493 | 3,722 | 13,934 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | - | 1,144 | 472 | 4,758 | 613 | 6,987 | |||||||||||||||||
- Nonaccruing | 1,154 | 29 | 206 | 377 | 1,106 | 2,872 | |||||||||||||||||
Subtotal - substandard | 1,154 | 1,173 | 678 | 5,135 | 1,719 | 9,859 | |||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||
Total | $ | 17,029 | $ | 29,625 | $ | 20,931 | $ | 23,283 | $ | 31,461 | $ | 122,329 | |||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
December 31, 2013 | One-to-Four | Multi-Family and | Construction and | Commercial | Consumer Loans | Total | |||||||||||||||||
Family | Commercial Real | Land | Business Loans | ||||||||||||||||||||
Estate | Development | ||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 180,704 | $ | 90,462 | $ | 3,102 | $ | 18,939 | $ | 28,603 | $ | 321,810 | |||||||||||
Special Mention | 500 | 26,832 | 946 | 3,869 | 262 | 32,409 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | 349 | 2,470 | - | - | 94 | 2,913 | |||||||||||||||||
- Nonaccruing | 5,432 | 3,370 | 1,561 | 2,605 | 322 | 13,290 | |||||||||||||||||
Subtotal - substandard | 5,781 | 5,840 | 1,561 | 2,605 | 416 | 16,203 | |||||||||||||||||
Doubtful | - | - | - | 93 | - | 93 | |||||||||||||||||
Total | $ | 186,985 | $ | 123,134 | $ | 5,609 | $ | 25,506 | $ | 29,281 | $ | 370,515 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Credit Risk Profile by Internally Assigned Grade: | |||||||||||||||||||||||
December 31, 2013 | Investor Owned | Industrial and | Office Buildings | Retail Properties | Special Use | Total Multi-Family | |||||||||||||||||
One-to-Four | Warehouse | Properties | and Commercial | ||||||||||||||||||||
family and multi- | Properties | Real Estate | |||||||||||||||||||||
family | |||||||||||||||||||||||
Risk Rating: | |||||||||||||||||||||||
Pass | $ | 10,682 | $ | 21,500 | $ | 16,821 | $ | 16,250 | $ | 25,209 | $ | 90,462 | |||||||||||
Special Mention | 4,523 | 7,310 | 4,015 | 6,130 | 4,854 | 26,832 | |||||||||||||||||
Substandard: | |||||||||||||||||||||||
- Accruing | - | 1,155 | 370 | 457 | 488 | 2,470 | |||||||||||||||||
- Nonaccruing | 1,167 | 31 | 206 | 682 | 1,284 | 3,370 | |||||||||||||||||
Subtotal - substandard | 1,167 | 1,186 | 576 | 1,139 | 1,772 | 5,840 | |||||||||||||||||
Doubtful | - | - | - | - | - | ||||||||||||||||||
Total | $ | 16,372 | $ | 29,996 | $ | 21,412 | $ | 23,519 | $ | 31,835 | $ | 123,134 | |||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following tables set forth certain information with respect to our loan portfolio delinquencies, by loan class, as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
Delinquencies | |||||||||||||||||||||||
As of March 31, 2014 | 31-60 Days | 61-90 Days | Greater | Total Past | Current | Total Loans | Carrying | ||||||||||||||||
Past Due | Past Due | Than | Due | Amount > 90 | |||||||||||||||||||
90 Days | Days and | ||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to-four family | $ | 1,240 | $ | 15 | $ | 2,603 | $ | 3,858 | $ | 180,673 | $ | 184,531 | $ | - | |||||||||
Construction and land development | 3 | - | 1,637 | 1,640 | 3,888 | 5,528 | 56 | ||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family | 514 | - | 692 | 1,206 | 15,823 | 17,029 | 73 | ||||||||||||||||
Industrial and Warehouse | 617 | - | - | 617 | 29,008 | 29,625 | - | ||||||||||||||||
Office buildings | 368 | - | 205 | 573 | 20,358 | 20,931 | - | ||||||||||||||||
Retail properties | - | - | - | - | 23,283 | 23,283 | - | ||||||||||||||||
Special use properties | 582 | - | 169 | 751 | 30,710 | 31,461 | - | ||||||||||||||||
Subtotal Multi-family and commercial real estate | 2,081 | - | 1,066 | 3,147 | 119,182 | 122,329 | 73 | ||||||||||||||||
Commercial business loans | 1,994 | - | 756 | 2,750 | 21,500 | 24,250 | - | ||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity loans | 69 | 100 | 158 | 327 | 26,940 | 27,267 | - | ||||||||||||||||
Other consumer loans | 1 | - | - | 1 | 5,931 | 5,932 | - | ||||||||||||||||
Subtotal Consumer | 70 | 100 | 158 | 328 | 32,871 | 33,199 | - | ||||||||||||||||
Total | $ | 5,388 | $ | 115 | $ | 6,220 | $ | 11,723 | $ | 358,114 | $ | 369,837 | $ | 129 | |||||||||
Delinquencies | |||||||||||||||||||||||
As of December 31, 2013 | 31-60 Days | 61-90 Days | Greater | Total Past | Current | Total Loans | Carrying | ||||||||||||||||
Past Due | Past Due | Than | Due | Amount > 90 | |||||||||||||||||||
90 Days | Days and | ||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to-four family | $ | 1,217 | $ | 397 | $ | 2,564 | $ | 4,178 | $ | 182,807 | $ | 186,985 | $ | - | |||||||||
Construction and land development | 970 | 538 | 1,799 | 3,307 | 2,302 | 5,609 | - | ||||||||||||||||
Multi-family and commercial real estate: | - | ||||||||||||||||||||||
Investor owned one-to-four family and multi-family | 861 | - | 621 | 1,482 | 14,890 | 16,372 | - | ||||||||||||||||
Industrial and Warehouse | - | - | 32 | 32 | 29,964 | 29,996 | - | ||||||||||||||||
Office buildings | - | 108 | 206 | 314 | 21,098 | 21,412 | - | ||||||||||||||||
Retail properties | 423 | - | - | 423 | 23,096 | 23,519 | - | ||||||||||||||||
Special use properties | 346 | - | 169 | 515 | 31,320 | 31,835 | - | ||||||||||||||||
Subtotal Multi-family and commercial real estate | 1,630 | 108 | 1,028 | 2,766 | 120,368 | 123,134 | - | ||||||||||||||||
Commercial business loans | 487 | 153 | 1,598 | 2,238 | 23,268 | 25,506 | - | ||||||||||||||||
Consumer loans: | |||||||||||||||||||||||
Home equity loans | 155 | 28 | 142 | 325 | 26,635 | 26,960 | - | ||||||||||||||||
Other consumer loans | 2 | 3 | - | 5 | 2,316 | 2,321 | - | ||||||||||||||||
Subtotal Consumer | 157 | 31 | 142 | 330 | 28,951 | 29,281 | - | ||||||||||||||||
Total | $ | 4,461 | $ | 1,227 | $ | 7,131 | $ | 12,819 | $ | 357,696 | $ | 370,515 | $ | - | |||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table sets forth certain information with respect to our nonperforming assets as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Nonperforming Assets | (Dollars in thousands) | ||||||||||||||||||||||
Nonaccrual loans | $ | 5,821 | $ | 7,953 | |||||||||||||||||||
TDRs nonaccruing | 4,769 | 5,430 | |||||||||||||||||||||
Subtotal nonperforming loans | 10,590 | 13,383 | |||||||||||||||||||||
Foreclosed real estate | 1,114 | 1,846 | |||||||||||||||||||||
Total nonperforming assets | $ | 11,704 | $ | 15,229 | |||||||||||||||||||
Total nonperforming loans to total loans | 2.86 | % | 3.61 | % | |||||||||||||||||||
Total nonperforming assets to total assets | 2.31 | % | 3.13 | % | |||||||||||||||||||
Schedule Of Impaired Loans Receivable [Table Text Block] | ' | ||||||||||||||||||||||
The following tables summarize impaired loans by portfolio segment as of March 31, 2014 and December 31, 2013: | |||||||||||||||||||||||
As of March 31, 2014 | Recorded | Recorded | Total | Unpaid | Related Specific | ||||||||||||||||||
Investment with | Investment with | Recorded | Contractual | Valuation | |||||||||||||||||||
No Specific | Specific | Investment | Principal Balance | Allowance | |||||||||||||||||||
Valuation | Valuation | ||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 4,533 | $ | 2,257 | $ | 6,790 | $ | 7,392 | $ | 49 | |||||||||||||
Construction and land development | 1,290 | 294 | 1,584 | 2,115 | 21 | ||||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family properties | 1,154 | - | 1,154 | 1,270 | - | ||||||||||||||||||
Industrial and warehouse properties | 29 | - | 29 | 32 | - | ||||||||||||||||||
Office buildings | 206 | - | 206 | 405 | - | ||||||||||||||||||
Retail properties | - | 377 | 377 | 458 | 12 | ||||||||||||||||||
Special use properties | 1,106 | - | 1,106 | 1,624 | - | ||||||||||||||||||
Subtotal | 2,495 | 377 | 2,872 | 3,789 | 12 | ||||||||||||||||||
Commercial business loans | 969 | 314 | 1,283 | 1,357 | 88 | ||||||||||||||||||
Consumer loans | 129 | 370 | 499 | 631 | 46 | ||||||||||||||||||
Total impaired loans | $ | 9,416 | $ | 3,612 | $ | 13,028 | $ | 15,284 | $ | 216 | |||||||||||||
As of December 31, 2013 | Recorded | Recorded | Total | Unpaid | Related Specific | ||||||||||||||||||
Investment with | Investment with | Recorded | Contractual | Valuation | |||||||||||||||||||
No Specific | Specific | Investment | Principal Balance | Allowance | |||||||||||||||||||
Valuation | Valuation | ||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 4,570 | $ | 2,431 | $ | 7,001 | $ | 7,734 | $ | 70 | |||||||||||||
Construction and land development | 1,405 | 449 | 1,854 | 2,424 | 75 | ||||||||||||||||||
Multi-family and commercial real estate: | |||||||||||||||||||||||
Investor owned one-to-four family and multi-family properties | 1,167 | - | 1,167 | 1,274 | - | ||||||||||||||||||
Industrial and warehouse properties | 565 | - | 565 | 567 | - | ||||||||||||||||||
Office buildings | 206 | - | 206 | 405 | - | ||||||||||||||||||
Retail properties | 158 | 389 | 547 | 621 | 23 | ||||||||||||||||||
Special use properties | 1,600 | - | 1,600 | 2,086 | - | ||||||||||||||||||
Subtotal | 3,696 | 389 | 4,085 | 4,953 | 23 | ||||||||||||||||||
Commercial business loans | 1,996 | 584 | 2,580 | 2,693 | 105 | ||||||||||||||||||
Consumer loans | 412 | 167 | 579 | 805 | 10 | ||||||||||||||||||
Total impaired loans | $ | 12,079 | $ | 4,020 | $ | 16,099 | $ | 18,609 | $ | 283 | |||||||||||||
Schedule Of Interest Income Recognized By Class Of Impaired Loans [Table Text Block] | ' | ||||||||||||||||||||||
The following table relates to interest income recognized by segment of impaired loans for the three months ended March 31, 2014 and 2013: | |||||||||||||||||||||||
Three Months ended March 31, | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||
Recorded | Recognized | Recorded | Recognized | ||||||||||||||||||||
Investments | Investments | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate loans | |||||||||||||||||||||||
One-to four-family | $ | 6,896 | $ | 53 | $ | 5,231 | $ | 32 | |||||||||||||||
Construction and land development | 1,715 | 1 | 9,833 | 15 | |||||||||||||||||||
Multi-family and commercial real estate | 3,479 | 17 | 15,658 | 114 | |||||||||||||||||||
Commercial business loans | 1,931 | 22 | 3,910 | 23 | |||||||||||||||||||
Consumer loans | 539 | 5 | 448 | 3 | |||||||||||||||||||
Total | $ | 14,560 | $ | 98 | $ | 35,080 | $ | 187 | |||||||||||||||
Impaired Loans Modified Tdr [Table Text Block] | ' | ||||||||||||||||||||||
The recorded investment balance of performing and nonperforming TDRs as of March 31, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||||
(In thousands) | As of | As of | |||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||
Aggregate recorded investment of impaired loans performing under terms modified through a troubled debt restructuring: | |||||||||||||||||||||||
Performing (1) | $ | 4,494 | $ | 4,195 | |||||||||||||||||||
Nonperforming | 2,600 | 3,051 | |||||||||||||||||||||
Total | $ | 7,094 | $ | 7,246 | |||||||||||||||||||
-1 | Of the $4,494,000 in TDRs which were performing under the modified terms of their agreements at March 31, 2014, there were $2,169,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,169,000 in TDRs and the $2,600,000 nonperforming TDRs at March 31, 2014 equal the $4,769,000 in TDRs that were on nonaccrual status at March 31, 2014. | ||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following tables present a breakdown of the type of concessions made by loan class during the three months ended March 31, 2014 and March 31, 2013: | |||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | % | |||||||||||||||||||
Loans | Modification | Modification | |||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||
Commercial business loans | 3 | $ | 30 | $ | 30 | 12.1 | % | ||||||||||||||||
Subtotals | 3 | 30 | 30 | 12.1 | % | ||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||
Commercial business loans | 1 | 98 | 98 | 39.5 | % | ||||||||||||||||||
Subtotals | 1 | 98 | 98 | 39.5 | % | ||||||||||||||||||
Principal payments deferred | |||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||
One-to-four family | 1 | 120 | 120 | 48.4 | % | ||||||||||||||||||
Subtotals | 1 | 120 | 120 | 48.4 | % | ||||||||||||||||||
Grand Totals | 5 | $ | 248 | $ | 248 | 100 | % | ||||||||||||||||
For the Three Months Ended March 31, 2013 | |||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | % | |||||||||||||||||||
Loans | Modification | Modification | |||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||
Commercial business loans | 5 | $ | 393 | $ | 453 | 72.7 | % | ||||||||||||||||
Subtotals | 5 | 393 | 453 | 72.7 | % | ||||||||||||||||||
Principal payments deferred | |||||||||||||||||||||||
Commercial business loans | 1 | 170 | 170 | 27.3 | % | ||||||||||||||||||
Subtotals | 1 | 170 | 170 | 27.3 | % | ||||||||||||||||||
Grand Totals | 6 | $ | 563 | $ | 623 | 100 | % | ||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following tables set forth the balance of and transactions in the allowance for loan losses at March 31, 2014, December 31, 2013 and March 31, 2013, by portfolio segment, disaggregated by impairment methodology, which is then further segregated by loans evaluated for impairment individually and collectively. | |||||||||||||||||||||||
As of and for the Three Months | One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | |||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Ended March 31, 2014 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance | $ | 1,849 | $ | 5,097 | $ | 1,118 | $ | 1,443 | $ | 384 | $ | 9,891 | |||||||||||
Provision for loan losses | 117 | 177 | 84 | -309 | -69 | - | |||||||||||||||||
Charge-offs | -32 | -12 | -102 | -36 | -2 | -184 | |||||||||||||||||
Recoveries | - | - | 15 | 57 | 86 | 158 | |||||||||||||||||
Balance at March 31, 2014 | $ | 1,934 | $ | 5,262 | $ | 1,115 | $ | 1,155 | $ | 399 | $ | 9,865 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 49 | $ | 12 | $ | 21 | $ | 88 | $ | 46 | $ | 216 | |||||||||||
Collectively evaluated for impairment | 1,885 | 5,250 | 1,094 | 1,067 | 353 | 9,649 | |||||||||||||||||
Total Allowance | $ | 1,934 | $ | 5,262 | $ | 1,115 | $ | 1,155 | $ | 399 | $ | 9,865 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 6,790 | $ | 2,872 | $ | 1,584 | $ | 1,283 | $ | 499 | $ | 13,028 | |||||||||||
Ending loan balance collectively evaluated for impairment | 177,741 | 119,457 | 3,944 | 22,967 | 32,700 | 356,809 | |||||||||||||||||
Total Loans | $ | 184,531 | $ | 122,329 | $ | 5,528 | $ | 24,250 | $ | 33,199 | $ | 369,837 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
As of and for the Three Months | Investor one- | Industrial and | Office | Retail | Special Use | Total Multi- | |||||||||||||||||
to-four family | Warehouse | Buildings | Properties | Properties | Family and | ||||||||||||||||||
and multi- | Properties | Commercial | |||||||||||||||||||||
family | Real Estate | ||||||||||||||||||||||
Ended March 31, 2014 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Beginning balance | 515 | $ | 1,034 | $ | 563 | $ | 856 | $ | 2,129 | $ | 5,097 | ||||||||||||
Provision for loan losses | -59 | 32 | 23 | 217 | -36 | 177 | |||||||||||||||||
Charge-offs | - | - | - | - | -12 | -12 | |||||||||||||||||
Recoveries | - | - | - | - | - | - | |||||||||||||||||
Balance at March 31, 2014 | $ | 456 | $ | 1,066 | $ | 586 | $ | 1,073 | $ | 2,081 | $ | 5,262 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 12 | $ | - | $ | 12 | |||||||||||
Collectively evaluated for impairment | 456 | 1,066 | 586 | 1,061 | 2,081 | 5,250 | |||||||||||||||||
Total Allowance | $ | 456 | $ | 1,066 | $ | 586 | $ | 1,073 | $ | 2,081 | $ | 5,262 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 1,154 | $ | 29 | $ | 206 | $ | 377 | $ | 1,106 | $ | 2,872 | |||||||||||
Ending loan balance collectively evaluated for impairment | 15,875 | 29,596 | 20,725 | 22,906 | 30,355 | 119,457 | |||||||||||||||||
Total Loans | $ | 17,029 | $ | 29,625 | $ | 20,931 | $ | 23,283 | $ | 31,461 | $ | 122,329 | |||||||||||
As of and for the Three Months | One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | |||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
Ended March 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||
Beginning Balance | $ | 1,988 | $ | 4,892 | $ | 4,468 | $ | 2,725 | $ | 427 | $ | 14,500 | |||||||||||
Provision for loan losses | 50 | 200 | - | 50 | - | 300 | |||||||||||||||||
Charge-offs | -151 | -224 | -6 | -184 | - | -565 | |||||||||||||||||
Recoveries | - | 9 | - | 9 | - | 18 | |||||||||||||||||
Ending Balance | $ | 1,887 | $ | 4,877 | $ | 4,462 | $ | 2,600 | $ | 427 | $ | 14,253 | |||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 49 | $ | 346 | $ | 117 | $ | 216 | $ | - | $ | 728 | |||||||||||
Collectively evaluated for impairment | 1,838 | 4,531 | 4,345 | 2,384 | 427 | 13,525 | |||||||||||||||||
Total Allowance | $ | 1,887 | $ | 4,877 | $ | 4,462 | $ | 2,600 | $ | 427 | $ | 14,253 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 5,132 | $ | 15,573 | $ | 9,843 | $ | 3,802 | $ | 445 | $ | 34,795 | |||||||||||
Ending loan balance collectively evaluated for impairment | 201,585 | 127,479 | 9,306 | 27,512 | 28,593 | 394,475 | |||||||||||||||||
Total Loans | $ | 206,717 | $ | 143,052 | $ | 19,149 | $ | 31,314 | $ | 29,038 | $ | 429,270 | |||||||||||
One-to-Four | Multi-Family | Construction | Commercial | Consumer | Total | ||||||||||||||||||
Family | and | and Land | Business | Loans | |||||||||||||||||||
Commercial | Development | Loans | |||||||||||||||||||||
Real Estate | |||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | 70 | $ | 23 | $ | 75 | $ | 105 | $ | 10 | $ | 283 | |||||||||||
Collectively evaluated for impairment | 1,779 | 5,074 | 1,043 | 1,338 | 374 | 9,608 | |||||||||||||||||
Total Allowance | $ | 1,849 | $ | 5,097 | $ | 1,118 | $ | 1,443 | $ | 384 | $ | 9,891 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 7,001 | $ | 4,085 | $ | 1,854 | $ | 2,580 | $ | 579 | $ | 16,099 | |||||||||||
Ending loan balance collectively evaluated for impairment | 179,984 | 119,049 | 3,755 | 22,926 | 28,702 | 354,416 | |||||||||||||||||
Total Loans | $ | 186,985 | $ | 123,134 | $ | 5,609 | $ | 25,506 | $ | 29,281 | $ | 370,515 | |||||||||||
Multi-Family and Commercial Real Estate | |||||||||||||||||||||||
Investor one- | Industrial and | Office | Retail | Special Use | Total Multi- | ||||||||||||||||||
to-four family | Warehouse | Buildings | Properties | Properties | Family and | ||||||||||||||||||
and multi- | Properties | Commercial | |||||||||||||||||||||
family | Real Estate | ||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Allowance related to loans: | |||||||||||||||||||||||
Individually evaluated for impairment | $ | - | $ | - | $ | - | $ | 23 | $ | - | $ | 23 | |||||||||||
Collectively evaluated for impairment | 515 | 1,034 | 563 | 833 | 2,129 | 5,074 | |||||||||||||||||
Total Allowance | $ | 515 | $ | 1,034 | $ | 563 | $ | 856 | $ | 2,129 | $ | 5,097 | |||||||||||
Ending loan balance individually evaluated for impairment | $ | 1,167 | $ | 565 | $ | 206 | $ | 547 | $ | 1,600 | $ | 4,085 | |||||||||||
Ending loan balance collectively evaluated for impairment | 15,205 | 29,431 | 21,206 | 22,973 | 30,234 | 119,049 | |||||||||||||||||
Total Loans | $ | 16,372 | $ | 29,996 | $ | 21,412 | $ | 23,520 | $ | 31,834 | $ | 123,134 | |||||||||||
MORTGAGE_BANKING_ACTIVITY_Tabl
MORTGAGE BANKING ACTIVITY (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Mortgage Banking [Abstract] | ' | |||||||
Schedule Of Non-Interest Income [Table Text Block] | ' | |||||||
The following represents the Company’s noninterest income derived from these activities: | ||||||||
For the Three Months | ||||||||
Ended March 31, | ||||||||
(In Thousands) | 2014 | 2013 | ||||||
Gain on sales of loans | $ | 131 | $ | 420 | ||||
Mortgage servicing income | 5 | 82 | ||||||
Total | $ | 136 | $ | 502 | ||||
FORECLOSED_REAL_ESTATE_Tables
FORECLOSED REAL ESTATE (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Foreclosed Real Estate [Abstract] | ' | |||||||
Other Real Estate, Roll Forward [Table Text Block] | ' | |||||||
Changes in foreclosed real estate during the three months ended March 31, 2014 and March 31, 2013 are as follows: | ||||||||
For the Three Months Ended March 31, | ||||||||
(In thousands) | 2014 | 2013 | ||||||
Beginning Balance | $ | 1,846 | $ | 735 | ||||
Additions | 338 | - | ||||||
Proceeds from dispositions | -978 | -186 | ||||||
Loss on sales | -65 | -39 | ||||||
Writedowns | -27 | -12 | ||||||
Balance at end of period | $ | 1,114 | $ | 498 | ||||
DEPOSITS_Tables
DEPOSITS (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Deposits [Abstract] | ' | |||||||||||||
Schedule Of Deposits [Table Text Block] | ' | |||||||||||||
A summary of deposits at March 31, 2014 and December 31, 2013 consisted of the following: | ||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||
Amount | Percent | Amount | Percent | |||||||||||
Noninterest bearing demand deposits | $ | 65,158 | 16.8 | % | $ | 69,147 | 17.7 | % | ||||||
Interest bearing deposits | ||||||||||||||
Now accounts and money market accounts | 53,723 | 13.8 | % | 49,514 | 12.7 | % | ||||||||
Savings accounts | 115,672 | 29.8 | % | 117,004 | 29.9 | % | ||||||||
Certificates of deposit | 154,359 | 39.6 | % | 155,182 | 39.7 | % | ||||||||
Total interest bearing deposits | 323,754 | 83.2 | % | 321,700 | 82.3 | % | ||||||||
Total deposits | $ | 388,912 | 100 | % | $ | 390,847 | 100 | % | ||||||
Schedule Of Maturities Deposits [Table Text Block] | ' | |||||||||||||
Scheduled maturities of certificates of deposit are as follows: | ||||||||||||||
At March 31, 2014 | At December 31, 2013 | |||||||||||||
One year or less | $ | 72,979 | $ | 74,268 | ||||||||||
Over one year through three years | 56,141 | 50,858 | ||||||||||||
Over three years | 25,239 | 30,056 | ||||||||||||
$ | 154,359 | $ | 155,182 | |||||||||||
FHLB_ADVANCES_Tables
FHLB ADVANCES (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Long-Term Federal Home Loan Bank Advances [Abstract] | ' | ||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||
The following table presents certain information regarding our Federal Home Loan Bank advances during the periods or at the dates indicated. | |||||||||||||||
At March 31, 2014 | At December 31, 2013 | ||||||||||||||
(Dollars in thousands) | Amount | Weighted | Amount | Weighted | |||||||||||
Due (1) | Average | Due (1) | Average | ||||||||||||
Cost | Cost | ||||||||||||||
Year of maturity: | |||||||||||||||
2014 | $ | 8,943 | 0.68 | % | $ | 1,377 | 2.64 | % | |||||||
2015 | 5,533 | 0.68 | % | 1,500 | 0.8 | % | |||||||||
2016 | 12,717 | 0.81 | % | 2,800 | 0.9 | % | |||||||||
2017 - 2021 | 20,797 | 2.34 | % | 18,368 | 2.56 | % | |||||||||
2022 - 2026 | 622 | 0.27 | % | 638 | 0.27 | % | |||||||||
2027 - 2029 | 604 | - | 610 | - | |||||||||||
Total FHLB advances | $ | 49,216 | 1.42 | % | $ | 25,293 | 2.16 | % | |||||||
(1) Amount due includes scheduled principal payments on amortizing advances. | |||||||||||||||
OTHER_BORROWED_FUNDS_Tables
OTHER BORROWED FUNDS (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule Of Borrowed Funds For Repurchase Agreements [Table Text Block] | ' | ||||||||
The following table presents certain information regarding our repurchase agreements during the year to date periods or at the dates indicated. | |||||||||
At or for the year to date period ended | |||||||||
(Dollars in thousands) | March 31, 2014 | December 31, 2013 | |||||||
Maximum amount of advances outstanding during the period | $ | 8,355 | $ | 21,256 | |||||
Average advances outstanding during the period | $ | 6,530 | $ | 10,866 | |||||
Weighted average interest rate during the period | 0.01 | % | 0.24 | % | |||||
Balance outstanding at end of period | $ | 6,185 | $ | 4,173 | |||||
Weighted average interest rate at end of period | 0.01 | % | 0.01 | % | |||||
STOCKHOLDERS_EQUITY_Tables
STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||
Unreleased common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for purposes of calculating either basic or diluted net income per common share. | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2014 | 2013 | |||||||
Net loss | $ | -809,000 | $ | -591,000 | ||||
Weighted-average common shares outstanding: | ||||||||
Basic | 6,675,457 | 6,643,093 | ||||||
Diluted | 6,675,457 | 6,643,093 | ||||||
Loss per common share; | ||||||||
Basic | $ | -0.12 | $ | -0.09 | ||||
Diluted | $ | -0.12 | $ | -0.09 | ||||
FINANCIAL_INSTRUMENTS_WITH_OFF1
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Fair Value Disclosures [Abstract] | ' | |||||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | ' | |||||||
Financial instruments whose contractual amounts represent credit risk at March 31, 2014 and December 31, 2013 were as follows: | ||||||||
March 31, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Commitments to extend credit: | ||||||||
Commercial real estate loan commitments | $ | 23,576 | $ | 12,572 | ||||
Unused home equity lines of credit | 19,148 | 19,169 | ||||||
Commercial and industrial loan commitments | 10,052 | 10,153 | ||||||
Amounts due on other commitments | 6,870 | 6,618 | ||||||
Commercial letters of credit | 1,182 | 1,371 | ||||||
FAIR_VALUE_Tables
FAIR VALUE (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule Of Carrying Amount and Fair Values Of Financial Instruments [Table Text Block] | ' | |||||||||||||||
The following is a summary of the carrying values and estimated fair values of the Company’s significant financial instruments as of March 31, 2014 and December 31, 2013: | ||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||
(In thousands) | Fair Value | Carrying | Fair | Carrying | Fair | |||||||||||
Hierarchy Level | Value | Value | Value | Value | ||||||||||||
Financial Assets | ||||||||||||||||
Cash and cash equivalents | Level 1 | $ | 9,620 | $ | 9,620 | $ | 26,374 | $ | 26,374 | |||||||
Investment securities, available-for-sale: | ||||||||||||||||
Mutual fund -fixed income securities | Level 1 | 502 | 502 | 499 | 499 | |||||||||||
Other | Level 2 | 87,285 | 87,285 | 49,272 | 49,272 | |||||||||||
Investment securities, held-to-maturity | Level 2 | 16,890 | 17,057 | 18,149 | 18,243 | |||||||||||
Loans held for sale | Level 2 | 676 | 676 | 1,079 | 1,079 | |||||||||||
Loans receivable, net: | ||||||||||||||||
Performing | Level 2 | 346,897 | 349,793 | 344,468 | 347,496 | |||||||||||
Impaired | Level 3 | 13,028 | 12,812 | 16,100 | 15,816 | |||||||||||
Accrued interest receivable | Level 1 | 1,735 | 1,735 | 1,494 | 1,494 | |||||||||||
Mortgage servicing assets | Level 3 | 1,035 | 1,648 | 1,093 | 1,598 | |||||||||||
FHLB Stock | Level 3 | 5,444 | 5,444 | 5,444 | 5,444 | |||||||||||
Financial Liabilities | ||||||||||||||||
Demand deposits, savings, Now and money market deposits | Level 1 | 234,553 | 234,553 | 235,665 | 235,665 | |||||||||||
Time deposits | Level 2 | 154,359 | 156,607 | 155,182 | 157,591 | |||||||||||
FHLB advances | Level 2 | 49,216 | 49,776 | 25,293 | 25,942 | |||||||||||
Borrowed funds | Level 2 | 6,185 | 6,185 | 4,173 | 4,173 | |||||||||||
Mortgagors' escrow accounts | Level 2 | 2,263 | 2,263 | 4,392 | 4,392 | |||||||||||
Accrued interest payable | Level 1 | 66 | 66 | 51 | 51 | |||||||||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | ' | |||||||||||||||
The following table represents a further breakdown of investment securities and other financial instruments measured at fair value on a recurring basis. | ||||||||||||||||
Fair Value At March 31, 2014 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a recurring basis: | ||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Government and agency obligations | $ | - | $ | 42,233 | $ | - | $ | 42,233 | ||||||||
U.S. Government agency mortgage-backed obligations | - | 29,242 | - | 29,242 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | - | 8,674 | - | 8,674 | ||||||||||||
Small Business Administration loan pools | - | 2,027 | - | 2,027 | ||||||||||||
Obligations of state and municipal subdivisions | - | 4,861 | - | 4,861 | ||||||||||||
Private label collateralized mortgage obligations | - | 248 | - | 248 | ||||||||||||
Mutual fund - fixed income securities | 502 | - | - | 502 | ||||||||||||
Fair Value At December 31, 2013 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a recurring basis: | ||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Government and agency obligations | $ | - | $ | 16,506 | $ | - | $ | 16,506 | ||||||||
U.S. Government agency mortgage-backed obligations | - | 22,869 | - | 22,869 | ||||||||||||
U.S. Government agency collateralized mortgage obligations | - | 3,738 | - | 3,738 | ||||||||||||
Private label collateralized mortgage obligations | - | 266 | - | 266 | ||||||||||||
Auction-rate trust preferred securities | - | 5,893 | - | 5,893 | ||||||||||||
Mutual fund - fixed income securities | 499 | - | - | 499 | ||||||||||||
Schedule Of Fair Value On Non Recurring Basis [Table Text Block] | ' | |||||||||||||||
The following table represents assets measured at fair value on a non-recurring basis. | ||||||||||||||||
Fair Value At March 31, 2014 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a non-recurring basis: | ||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 12,812 | $ | 12,812 | ||||||||
Foreclosed real estate | - | - | 1,114 | 1,114 | ||||||||||||
Mortgage servicing rights | - | - | 1,648 | 1,648 | ||||||||||||
Fair Value At December 31, 2013 | ||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets measured at fair value on a non-recurring basis: | ||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 15,816 | $ | 15,816 | ||||||||
Foreclosed real estate | - | - | 1,846 | 1,846 | ||||||||||||
Mortgage servicing rights | - | - | 1,598 | 1,598 | ||||||||||||
REGULATORY_MATTERS_Details
REGULATORY MATTERS (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Capital Unit [Line Items] | ' | ' | ||
Total Risk-Based Capital Actual, Percentage | 17.77% | ' | ||
Tier 1 Leverage Capital Required for Adequately Capital Requirements, Percentage | 10.96% | ' | ||
Tier 1 Leverage Capital, Individual Minimum Capital Requirements, Percentage | 9.00% | ' | ||
Total Risk-Based Capital Individual Minimum Capital Requirements, Percentage | 13.00% | ' | ||
Company Consolidated [Member] | ' | ' | ||
Capital Unit [Line Items] | ' | ' | ||
Tier 1 Leverage Capital, Actual, Amount | $57,514 | [1] | $58,323 | [1] |
Tier 1 Risk-Based Capital Actual, Amount | 57,514 | [2] | 58,323 | [2] |
Total Risk-Based Capital Actual, Amount | 61,589 | [2] | 62,399 | [2] |
Tier 1 Leverage Capital Actual, Percentage | 11.35% | [1] | 11.98% | [1] |
Tier 1 Risk-Based Capital Actual, Percentage | 17.96% | [2] | 18.21% | [2] |
Total Risk-Based Capital Actual, Percentage | 19.23% | [2] | 19.49% | [2] |
Tier 1 Leverage Capital Required for Adequately Capital Requirements, Amount | 0 | [1] | 0 | [1] |
Tier 1 Risk-Based Capital Required for Adequately Capital Requirements, Amount | 0 | [2] | 0 | [2] |
Total Risk-Based Capital Required for Adequately Capital Requirements, Amount | 0 | [2] | 0 | [2] |
Tier 1 Leverage Capital Required for Adequately Capital Requirements, Percentage | 0.00% | [1] | 0.00% | [1] |
Tier 1 Risk Based Capital Required for Adequately Capital Requirements, Percentage | 0.00% | [2] | 0.00% | [2] |
Total Risk-Based Capital Required for Adequately Capital Requirements, Percentage | 0.00% | [2] | 0.00% | [2] |
Tier 1 Leverage Capital, Individual Minimum Capital Requirements, Amount | 0 | [1],[3] | 0 | [1],[3] |
Tier 1 Risk-Based Capital Individudal Minimum Capital Requirements, Amount | 0 | [2],[3] | 0 | [2],[3] |
Total Risk-Based Capital Individual Minimum Capital Requirements, Amount | 0 | [2],[3] | 0 | [2],[3] |
Tier 1 Leverage Capital, Individual Minimum Capital Requirements, Percentage | 0.00% | [1],[3] | 0.00% | [1],[3] |
Tier 1 Risk-Based Capital Individual Minimum Capital Requirements, Percentage | 0.00% | [2],[3] | 0.00% | [2],[3] |
Total Risk-Based Capital Individual Minimum Capital Requirements, Percentage | 0.00% | [2],[3] | 0.00% | [2],[3] |
Bank [Member] | ' | ' | ||
Capital Unit [Line Items] | ' | ' | ||
Tier 1 Leverage Capital, Actual, Amount | 53,147 | [1] | 53,946 | [1] |
Tier 1 Risk-Based Capital Actual, Amount | 53,147 | [2] | 53,946 | [2] |
Total Risk-Based Capital Actual, Amount | 57,246 | [2] | 58,047 | [2] |
Tier 1 Leverage Capital Actual, Percentage | 10.44% | [1] | 11.04% | [1] |
Tier 1 Risk-Based Capital Actual, Percentage | 16.50% | [2] | 16.74% | [2] |
Total Risk-Based Capital Actual, Percentage | 17.77% | [2] | 18.01% | [2] |
Tier 1 Leverage Capital Required for Adequately Capital Requirements, Amount | 20,354 | [1] | 19,545 | [1] |
Tier 1 Risk-Based Capital Required for Adequately Capital Requirements, Amount | 12,886 | [2] | 12,891 | [2] |
Total Risk-Based Capital Required for Adequately Capital Requirements, Amount | 25,772 | [2] | 25,783 | [2] |
Tier 1 Leverage Capital Required for Adequately Capital Requirements, Percentage | 4.00% | [1] | 4.00% | [1] |
Tier 1 Risk Based Capital Required for Adequately Capital Requirements, Percentage | 4.00% | [2] | 4.00% | [2] |
Total Risk-Based Capital Required for Adequately Capital Requirements, Percentage | 8.00% | [2] | 8.00% | [2] |
Tier 1 Leverage Capital, Individual Minimum Capital Requirements, Amount | 45,797 | [1],[3] | 43,977 | [1],[3] |
Tier 1 Risk-Based Capital Individudal Minimum Capital Requirements, Amount | 0 | [2],[3] | 0 | [2],[3] |
Total Risk-Based Capital Individual Minimum Capital Requirements, Amount | $41,879 | [2],[3] | $41,897 | [2],[3] |
Tier 1 Leverage Capital, Individual Minimum Capital Requirements, Percentage | 9.00% | [1],[3] | 9.00% | [1],[3] |
Tier 1 Risk-Based Capital Individual Minimum Capital Requirements, Percentage | 0.00% | [2],[3] | 0.00% | [2],[3] |
Total Risk-Based Capital Individual Minimum Capital Requirements, Percentage | 13.00% | [2],[3] | 13.00% | [2],[3] |
[1] | Tier 1 capital to total assets. | |||
[2] | Tier 1 or total risk-based capital to risk-weighted assets. | |||
[3] | Effective June 4, 2013. |
REGULATORY_MATTERS_Details_Tex
REGULATORY MATTERS (Details Textual) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Regulatory Matters [Line Items] | ' |
Capital to Risk Weighted Assets | 17.77% |
Liquid Assets | $2.90 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 10.96% |
Excess Tier One Leverage Capital to Average Assets | 10.44% |
Tier One Leverage Capital Required To Be Well Capitalized To Average Assets | 9.00% |
Capital Required To Be Well Capitalized To Risk Weighted Assets | 13.00% |
INVESTMENT_SECURITIES_Details
INVESTMENT SECURITIES (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | $87,440 | $49,862 |
Gross Unrealized Gains | 901 | 581 |
Gross Unrealized Losses | -554 | -672 |
Fair Value | 87,787 | 49,771 |
Held-to-maturity securities: | ' | ' |
Amortized Cost Basis | 16,890 | 18,149 |
Gross Unrealized Gains | 176 | 134 |
Gross Unrealized Losses | -9 | -40 |
Fair Value | 17,057 | 18,243 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 4,825 | ' |
Gross Unrealized Gains | 36 | ' |
Gross Unrealized Losses | 0 | ' |
Fair Value | 4,861 | ' |
US Government Agencies Debt Securities [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 42,185 | 16,601 |
Gross Unrealized Gains | 202 | 35 |
Gross Unrealized Losses | -154 | -130 |
Fair Value | 42,233 | 16,506 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 29,028 | 22,874 |
Gross Unrealized Gains | 602 | 527 |
Gross Unrealized Losses | -388 | -532 |
Fair Value | 29,242 | 22,869 |
Held-to-maturity securities: | ' | ' |
Amortized Cost Basis | 16,890 | 18,149 |
Gross Unrealized Gains | 176 | 134 |
Gross Unrealized Losses | -9 | -40 |
Fair Value | 17,057 | 18,243 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 8,635 | 3,736 |
Gross Unrealized Gains | 47 | 11 |
Gross Unrealized Losses | -8 | -9 |
Fair Value | 8,674 | 3,738 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 252 | 258 |
Gross Unrealized Gains | 0 | 8 |
Gross Unrealized Losses | -4 | 0 |
Fair Value | 248 | 266 |
Subtotal [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 40,430 | 27,368 |
Fair Value | 40,693 | 27,372 |
Held-to-maturity securities: | ' | ' |
Amortized Cost Basis | 16,890 | 18,149 |
Fair Value | 17,057 | 18,243 |
Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | ' | 5,893 |
Gross Unrealized Gains | ' | 0 |
Gross Unrealized Losses | ' | 0 |
Fair Value | ' | 5,893 |
Mutual fund - fixed income securities [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 500 | 500 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | 0 | -1 |
Fair Value | 502 | 499 |
Small Business Administration loan pools [Member] | ' | ' |
Available-for-sale securities: | ' | ' |
Amortized Cost Basis | 2,015 | ' |
Gross Unrealized Gains | 12 | ' |
Gross Unrealized Losses | 0 | ' |
Fair Value | $2,027 | ' |
INVESTMENT_SECURITIES_Details_
INVESTMENT SECURITIES (Details 1) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | $26,464 | $21,667 |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | 553 | 671 |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | 66 | 65 |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | 1 | 1 |
Available for sale investments with unrealized losses, Total, Fair Value | 26,530 | 21,732 |
Available for sale investments with unrealized losses, Total, Unrealized Loss | 554 | 672 |
US Government Agencies Debt Securities [Member] | ' | ' |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | 10,745 | 9,865 |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | 154 | 130 |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | 0 | 0 |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | 0 | 0 |
Available for sale investments with unrealized losses, Total, Fair Value | 10,745 | 9,865 |
Available for sale investments with unrealized losses, Total, Unrealized Loss | 154 | 130 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | 12,428 | 8,075 |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | 387 | 531 |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | 66 | 65 |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | 1 | 1 |
Available for sale investments with unrealized losses, Total, Fair Value | 12,494 | 8,140 |
Available for sale investments with unrealized losses, Total, Unrealized Loss | 388 | 532 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | 3,043 | 3,228 |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | 8 | 9 |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | 0 | 0 |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | 0 | 0 |
Available for sale investments with unrealized losses, Total, Fair Value | 3,043 | 3,228 |
Available for sale investments with unrealized losses, Total, Unrealized Loss | 8 | 9 |
Mutual fund - fixed Income securities [Member] | ' | ' |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | ' | 499 |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | ' | 1 |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | ' | 0 |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | ' | 0 |
Available for sale investments with unrealized losses, Total, Fair Value | ' | 499 |
Available for sale investments with unrealized losses, Total, Unrealized Loss | ' | 1 |
Private Label Collateralized Mortgage Obligations [Member] | ' | ' |
Unrealized Loss on Investments [Line Items] | ' | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Fair Value | 248 | ' |
Available for sale investments with unrealized losses, Less than 12 Months, Unrealized Loss | 4 | ' |
Available for sale investments with unrealized losses, Greater than 12 months, Fair Value | 0 | ' |
Available for sale investments with unrealized losses, Greater than 12 months, Unrealized Loss | 0 | ' |
Available for sale investments with unrealized losses, Total, Fair Value | 248 | ' |
Available for sale investments with unrealized losses, Total, Unrealized Loss | $4 | ' |
INVESTMENT_SECURITIES_Details_1
INVESTMENT SECURITIES (Details 2) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | $87,440 | $49,862 |
Available-for-Sale, Fair Value | 87,787 | 49,771 |
Held-to-maturity Securities, Amortized Cost | 16,890 | 18,149 |
Held-to-Maturity, Fair Value | 17,057 | 18,243 |
Available-for-sale Securities, Debt Maturities, Due in one year or less, Amortized Cost Basis | 0 | ' |
Available-for-sale Securities, Debt Maturities, Due in one year or less, Fair Value | 0 | ' |
Available-for-sale Securities, Debt Maturities, Due after one year through five years, Amortized Cost Basis | 5,051 | 6,606 |
Available-for-sale Securities, Debt Maturities, Due after one year through five years, Fair Value | 5,075 | 6,641 |
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Amortized Cost Basis | 22,337 | 9,995 |
Available-for-sale Securities, Debt Maturities, Due after five years through ten years, Fair Value | 22,344 | 9,865 |
Available-for-sale Securities, Debt Maturities, Due after ten years, Amortized Cost Basis | 19,622 | 5,893 |
Available-for-sale Securities, Debt Maturities Due after ten years, Fair Value | 19,675 | 5,893 |
Held-to-maturity Securities, Debt Maturities, Due in one year or less, Amortized Cost | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due in one year or less, Fair Value | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after one year through five years, Amortized Cost | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after one year through five years, Fair Value | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after five years through ten years, Amortized Cost Basis | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after five years through ten years, Fair Value | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after ten years, Amortized Cost | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Due after ten years, Fair Value | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 4,825 | ' |
Available-for-Sale, Fair Value | 4,861 | ' |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 29,028 | 22,874 |
Available-for-Sale, Fair Value | 29,242 | 22,869 |
Held-to-maturity Securities, Amortized Cost | 16,890 | 18,149 |
Held-to-Maturity, Fair Value | 17,057 | 18,243 |
Subtotal [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 40,430 | 27,368 |
Available-for-Sale, Fair Value | 40,693 | 27,372 |
Held-to-maturity Securities, Amortized Cost | 16,890 | 18,149 |
Held-to-Maturity, Fair Value | 17,057 | 18,243 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 47,010 | 22,494 |
Available-for-sale Securities, Debt Securities, Fair Value | 47,094 | 22,399 |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount, Amortized Cost | 0 | 0 |
Held-to-maturity Securities, Debt Maturities, Fair Value | 0 | 0 |
Small Business Administration loan pools [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 2,015 | ' |
Available-for-Sale, Fair Value | 2,027 | ' |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 8,635 | 3,736 |
Available-for-Sale, Fair Value | 8,674 | 3,738 |
Held-to-maturity Securities, Amortized Cost | 0 | 0 |
Held-to-Maturity, Fair Value | 0 | 0 |
Private Label Collateralized Mortgage Obligations [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 252 | 258 |
Available-for-Sale, Fair Value | 248 | 266 |
Held-to-maturity Securities, Amortized Cost | 0 | 0 |
Held-to-Maturity, Fair Value | 0 | 0 |
Securities With Fixed Maturities [Member] | ' | ' |
Amortized Cost and Fair Value Of Securities and Held To Maturity [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 500 | 500 |
Available-for-Sale, Fair Value | 502 | 499 |
Held-to-maturity Securities, Amortized Cost | 0 | 0 |
Held-to-Maturity, Fair Value | $0 | $0 |
INVESTMENT_SECURITIES_Details_2
INVESTMENT SECURITIES (Details Textual) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Total | $87,787 | $49,771 |
Available-for-sale Securities, Amortized Cost Basis, Total | 87,440 | 49,862 |
Securities Pledged as Collateral [Member] | Repurchase Agreements [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, Total | 18,970 | 19,670 |
Available-for-sale Securities, Amortized Cost Basis, Total | $18,760 | $19,530 |
LOANS_RECEIVABLE_Details
LOANS RECEIVABLE (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | $369,837 | $370,515 | $429,270 | ' |
Allowance for loan losses | 9,865 | 9,891 | 14,253 | 14,500 |
Deferred loan origination fees, net | 47 | 56 | ' | ' |
Loans receivable, net | 359,925 | 360,568 | ' | ' |
Commercial business loans [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 24,250 | 25,506 | ' | ' |
Real Estate [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 312,388 | 315,728 | ' | ' |
Real Estate [Member] | One to four family [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 184,531 | 186,985 | ' | ' |
Real Estate [Member] | Multi-Family and Commercial Real Estate [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 122,329 | 123,134 | ' | ' |
Real Estate [Member] | Construction Loans [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 5,528 | 5,609 | ' | ' |
Consumer Loan [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 33,199 | 29,281 | ' | ' |
Consumer Loan [Member] | Home Equity Line of Credit [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | 27,267 | 26,960 | ' | ' |
Consumer Loan [Member] | Other consumer [Member] | ' | ' | ' | ' |
Loans Receivable [Line Items] | ' | ' | ' | ' |
Total loans | $5,932 | $2,321 | ' | ' |
LOANS_RECEIVABLE_Details_1
LOANS RECEIVABLE (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $369,837 | $370,515 | $429,270 |
Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 31,461 | 31,835 | ' |
Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 23,283 | 23,519 | ' |
Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 20,931 | 21,412 | ' |
Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 29,625 | 29,996 | ' |
Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 17,029 | 16,372 | ' |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 33,199 | 29,281 | ' |
Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 332,436 | 321,810 | ' |
Pass [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 26,020 | 25,209 | ' |
Pass [Member] | Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 17,655 | 16,250 | ' |
Pass [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 17,609 | 16,821 | ' |
Pass [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 23,728 | 21,500 | ' |
Pass [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 13,524 | 10,682 | ' |
Pass [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 32,641 | 28,603 | ' |
Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 18,452 | 32,409 | ' |
Special Mention [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 3,722 | 4,854 | ' |
Special Mention [Member] | Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 493 | 6,130 | ' |
Special Mention [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,644 | 4,015 | ' |
Special Mention [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 4,724 | 7,310 | ' |
Special Mention [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,351 | 4,523 | ' |
Special Mention [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 268 | 262 | ' |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 18,859 | 16,203 | ' |
Substandard [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,719 | 1,772 | ' |
Substandard [Member] | Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 5,135 | 1,139 | ' |
Substandard [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 678 | 576 | ' |
Substandard [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,173 | 1,186 | ' |
Substandard [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,154 | 1,167 | ' |
Substandard [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 290 | 416 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 8,359 | 2,913 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 613 | 488 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 4,758 | 457 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 472 | 370 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,144 | 1,155 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Substandard [Member] | Accuring Credit Risk Profile [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 42 | 94 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 10,500 | 13,290 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,106 | 1,284 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Retail properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 377 | 682 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 206 | 206 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 29 | 31 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,154 | 1,167 | ' |
Substandard [Member] | NonAccuring Credit Risk Profile [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 248 | 322 | ' |
Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 90 | 93 | ' |
Doubtful [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Doubtful [Member] | Office Buildings [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Doubtful [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Doubtful [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Doubtful [Member] | Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial Business Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 24,250 | 25,506 | 31,314 |
Commercial Business Loans [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 19,080 | 18,939 | ' |
Commercial Business Loans [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 3,042 | 3,869 | ' |
Commercial Business Loans [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,038 | 2,605 | ' |
Commercial Business Loans [Member] | Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,233 | 0 | ' |
Commercial Business Loans [Member] | Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 805 | 2,605 | ' |
Commercial Business Loans [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 90 | 93 | ' |
Multi-Family and Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 122,329 | 123,134 | ' |
Multi-Family and Commercial Real Estate [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 98,536 | 90,462 | ' |
Multi-Family and Commercial Real Estate [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 13,934 | 26,832 | ' |
Multi-Family and Commercial Real Estate [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 9,859 | 5,840 | ' |
Multi-Family and Commercial Real Estate [Member] | Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 6,987 | 2,470 | ' |
Multi-Family and Commercial Real Estate [Member] | Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,872 | 3,370 | ' |
Multi-Family and Commercial Real Estate [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
One to four family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 184,531 | 186,985 | 206,717 |
One to four family [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 178,689 | 180,704 | ' |
One to four family [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 754 | 500 | ' |
One to four family [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 5,088 | 5,781 | ' |
One to four family [Member] | Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 97 | 349 | ' |
One to four family [Member] | Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 4,991 | 5,432 | ' |
One to four family [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction And Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 5,528 | 5,609 | ' |
Construction And Land Development [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 3,490 | 3,102 | ' |
Construction And Land Development [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 454 | 946 | ' |
Construction And Land Development [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,584 | 1,561 | ' |
Construction And Land Development [Member] | Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction And Land Development [Member] | Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,584 | 1,561 | ' |
Construction And Land Development [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Total Multi family and commercial real estate member [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 122,329 | 123,134 | ' |
Total Multi family and commercial real estate member [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 98,536 | 90,462 | ' |
Total Multi family and commercial real estate member [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 13,934 | 26,832 | ' |
Total Multi family and commercial real estate member [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 9,859 | 5,840 | ' |
Total Multi family and commercial real estate member [Member] | Substandard [Member] | Accuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 6,987 | 2,470 | ' |
Total Multi family and commercial real estate member [Member] | Substandard [Member] | NonAccuring Credit Risk Profile [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,872 | 3,370 | ' |
Total Multi family and commercial real estate member [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $0 | $0 | ' |
LOANS_RECEIVABLE_Details_2
LOANS RECEIVABLE (Details 2) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | $5,388 | $4,461 | ' |
61-90 Days Past Due | 115 | 1,227 | ' |
Greater Than 90 Days | 6,220 | 7,131 | ' |
Total Past Due | 11,723 | 12,819 | ' |
Current | 358,114 | 357,696 | ' |
Total Loans | 369,837 | 370,515 | 429,270 |
Carrying Amount > 90 Days and Accruing | 129 | 0 | ' |
Industrial Property [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 29,625 | 29,996 | ' |
Office Building [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 20,931 | 21,412 | ' |
Retail Site [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 23,283 | 23,519 | ' |
Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 31,461 | 31,835 | ' |
Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 17,029 | 16,372 | ' |
Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Carrying Amount > 90 Days and Accruing | ' | 0 | ' |
One to four family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 184,531 | 186,985 | 206,717 |
One to four family [Member] | Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 1,240 | 1,217 | ' |
61-90 Days Past Due | 15 | 397 | ' |
Greater Than 90 Days | 2,603 | 2,564 | ' |
Total Past Due | 3,858 | 4,178 | ' |
Current | 180,673 | 182,807 | ' |
Total Loans | 184,531 | 186,985 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Multi Family and Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 122,329 | 123,134 | 143,052 |
Multi Family and Commercial Real Estate [Member] | Industrial Property [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 617 | 0 | ' |
61-90 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days | 0 | 32 | ' |
Total Past Due | 617 | 32 | ' |
Current | 29,008 | 29,964 | ' |
Total Loans | 29,625 | 29,996 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Multi Family and Commercial Real Estate [Member] | Office Building [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 368 | 0 | ' |
61-90 Days Past Due | 0 | 108 | ' |
Greater Than 90 Days | 205 | 206 | ' |
Total Past Due | 573 | 314 | ' |
Current | 20,358 | 21,098 | ' |
Total Loans | 20,931 | 21,412 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Multi Family and Commercial Real Estate [Member] | Retail Site [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 0 | 423 | ' |
61-90 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days | 0 | 0 | ' |
Total Past Due | 0 | 423 | ' |
Current | 23,283 | 23,096 | ' |
Total Loans | 23,283 | 23,519 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Multi Family and Commercial Real Estate [Member] | Special use properties [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 582 | 346 | ' |
61-90 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days | 169 | 169 | ' |
Total Past Due | 751 | 515 | ' |
Current | 30,710 | 31,320 | ' |
Total Loans | 31,461 | 31,835 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Multi Family and Commercial Real Estate [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 514 | 861 | ' |
61-90 Days Past Due | 0 | 0 | ' |
Greater Than 90 Days | 692 | 621 | ' |
Total Past Due | 1,206 | 1,482 | ' |
Current | 15,823 | 14,890 | ' |
Total Loans | 17,029 | 16,372 | ' |
Carrying Amount > 90 Days and Accruing | 73 | 0 | ' |
Commercial Business Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 1,994 | 487 | ' |
61-90 Days Past Due | 0 | 153 | ' |
Greater Than 90 Days | 756 | 1,598 | ' |
Total Past Due | 2,750 | 2,238 | ' |
Current | 21,500 | 23,268 | ' |
Total Loans | 24,250 | 25,506 | 31,314 |
Carrying Amount > 90 Days and Accruing | ' | 0 | ' |
Total Multi family and commercial real estate member [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 2,081 | 1,630 | ' |
61-90 Days Past Due | 0 | 108 | ' |
Greater Than 90 Days | 1,066 | 1,028 | ' |
Total Past Due | 3,147 | 2,766 | ' |
Current | 119,182 | 120,368 | ' |
Total Loans | 122,329 | 123,134 | ' |
Carrying Amount > 90 Days and Accruing | 73 | 0 | ' |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 70 | 157 | ' |
61-90 Days Past Due | 100 | 31 | ' |
Greater Than 90 Days | 158 | 142 | ' |
Total Past Due | 328 | 330 | ' |
Current | 32,871 | 28,951 | ' |
Total Loans | 33,199 | 29,281 | 29,038 |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Consumer Loan [Member] | Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 69 | 155 | ' |
61-90 Days Past Due | 100 | 28 | ' |
Greater Than 90 Days | 158 | 142 | ' |
Total Past Due | 327 | 325 | ' |
Current | 26,940 | 26,635 | ' |
Total Loans | 27,267 | 26,960 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Consumer Loan [Member] | Other consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 1 | 2 | ' |
61-90 Days Past Due | 0 | 3 | ' |
Greater Than 90 Days | 0 | 0 | ' |
Total Past Due | 1 | 5 | ' |
Current | 5,931 | 2,316 | ' |
Total Loans | 5,932 | 2,321 | ' |
Carrying Amount > 90 Days and Accruing | 0 | 0 | ' |
Construction and Land Development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 5,528 | 5,609 | 19,149 |
Construction and Land Development [Member] | Real Estate Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
31-60 Days Past Due | 3 | 970 | ' |
61-90 Days Past Due | 0 | 538 | ' |
Greater Than 90 Days | 1,637 | 1,799 | ' |
Total Past Due | 1,640 | 3,307 | ' |
Current | 3,888 | 2,302 | ' |
Total Loans | 5,528 | 5,609 | ' |
Carrying Amount > 90 Days and Accruing | $56 | $0 | ' |
LOANS_RECEIVABLE_Details_3
LOANS RECEIVABLE (Details 3) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Nonaccrual loans | $5,821 | $7,953 | ' | ' |
TDRs nonaccruing | 4,769 | 5,430 | ' | ' |
Subtotal nonperforming loans | 10,590 | 13,383 | ' | ' |
Foreclosed real estate | 1,114 | 1,846 | 498 | 735 |
Total nonperforming assets | $11,704 | $15,229 | ' | ' |
Total nonperforming loans to total loans | 2.86% | 3.61% | ' | ' |
Total nonperforming assets to total assets | 2.31% | 3.13% | ' | ' |
LOANS_RECEIVABLE_Details_4
LOANS RECEIVABLE (Details 4) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | $9,416 | $12,079 |
Recorded Investment with Specific Valuation Allowance | 3,612 | 4,020 |
Total Recorded Investment | 13,028 | 16,099 |
Unpaid Contractual Principal Balance | 15,284 | 18,609 |
Related Specific Valuation Allowance | 216 | 283 |
Commercial Business Loans [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 969 | 1,996 |
Recorded Investment with Specific Valuation Allowance | 314 | 584 |
Total Recorded Investment | 1,283 | 2,580 |
Unpaid Contractual Principal Balance | 1,357 | 2,693 |
Related Specific Valuation Allowance | 88 | 105 |
Consumer Loan [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 129 | 412 |
Recorded Investment with Specific Valuation Allowance | 370 | 167 |
Total Recorded Investment | 499 | 579 |
Unpaid Contractual Principal Balance | 631 | 805 |
Related Specific Valuation Allowance | 46 | 10 |
Multi Family and Commercial Real Estate [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 2,495 | 3,696 |
Recorded Investment with Specific Valuation Allowance | 377 | 389 |
Total Recorded Investment | 2,872 | 4,085 |
Unpaid Contractual Principal Balance | 3,789 | 4,953 |
Related Specific Valuation Allowance | 12 | 23 |
Multi Family and Commercial Real Estate [Member] | Industrial Property [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 29 | 565 |
Recorded Investment with Specific Valuation Allowance | 0 | 0 |
Total Recorded Investment | 29 | 565 |
Unpaid Contractual Principal Balance | 32 | 567 |
Related Specific Valuation Allowance | 0 | 0 |
Multi Family and Commercial Real Estate [Member] | Office Building [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 206 | 206 |
Recorded Investment with Specific Valuation Allowance | 0 | 0 |
Total Recorded Investment | 206 | 206 |
Unpaid Contractual Principal Balance | 405 | 405 |
Related Specific Valuation Allowance | 0 | 0 |
Multi Family and Commercial Real Estate [Member] | Retail Site [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 0 | 158 |
Recorded Investment with Specific Valuation Allowance | 377 | 389 |
Total Recorded Investment | 377 | 547 |
Unpaid Contractual Principal Balance | 458 | 621 |
Related Specific Valuation Allowance | 12 | 23 |
Multi Family and Commercial Real Estate [Member] | Other Property [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 1,106 | 1,600 |
Recorded Investment with Specific Valuation Allowance | 0 | 0 |
Total Recorded Investment | 1,106 | 1,600 |
Unpaid Contractual Principal Balance | 1,624 | 2,086 |
Related Specific Valuation Allowance | 0 | 0 |
Multi Family and Commercial Real Estate [Member] | Investor owned one to four family and multi family [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 1,154 | 1,167 |
Recorded Investment with Specific Valuation Allowance | 0 | 0 |
Total Recorded Investment | 1,154 | 1,167 |
Unpaid Contractual Principal Balance | 1,270 | 1,274 |
Related Specific Valuation Allowance | 0 | 0 |
Real Estate Loans [Member] | One To Four Family [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 4,533 | 4,570 |
Recorded Investment with Specific Valuation Allowance | 2,257 | 2,431 |
Total Recorded Investment | 6,790 | 7,001 |
Unpaid Contractual Principal Balance | 7,392 | 7,734 |
Related Specific Valuation Allowance | 49 | 70 |
Real Estate Loans [Member] | Construction and Land Development [Member] | ' | ' |
Impaired Loans Receivable [Line Items] | ' | ' |
Recorded Investment with No Specific Valuation Allowance | 1,290 | 1,405 |
Recorded Investment with Specific Valuation Allowance | 294 | 449 |
Total Recorded Investment | 1,584 | 1,854 |
Unpaid Contractual Principal Balance | 2,115 | 2,424 |
Related Specific Valuation Allowance | $21 | $75 |
LOANS_RECEIVABLE_Details_5
LOANS RECEIVABLE (Details 5) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | $14,560 | $35,080 |
Interest Income Recognized | 98 | 187 |
Real Estate [Member] | One to four family [Member] | ' | ' |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | 6,896 | 5,231 |
Interest Income Recognized | 53 | 32 |
Real Estate [Member] | Construction And Land Developments [Member] | ' | ' |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | 1,715 | 9,833 |
Interest Income Recognized | 1 | 15 |
Real Estate [Member] | Multi Family and Commercial Real Estate [Member] | ' | ' |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | 3,479 | 15,658 |
Interest Income Recognized | 17 | 114 |
Real Estate [Member] | Commercial Business Loans [Member] | ' | ' |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | 1,931 | 3,910 |
Interest Income Recognized | 22 | 23 |
Real Estate [Member] | Consumer Loans [Member] | ' | ' |
Interest Income Recognized By Class Of Impaired Loans [Line Items] | ' | ' |
Average Recorded Investments | 539 | 448 |
Interest Income Recognized | $5 | $3 |
LOANS_RECEIVABLE_Details_6
LOANS RECEIVABLE (Details 6) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Impaired Loans Modified Tdr [Line Items] | ' | ' | ||
Total | $7,094 | $7,246 | ||
Performing Financing Receivable [Member] | ' | ' | ||
Impaired Loans Modified Tdr [Line Items] | ' | ' | ||
Total | 4,494 | [1] | 4,195 | [1] |
Nonperforming Financing Receivable [Member] | ' | ' | ||
Impaired Loans Modified Tdr [Line Items] | ' | ' | ||
Total | $2,600 | $3,051 | ||
[1] | Of the $4,494,000 in TDRs which were performing under the modified terms of their agreements at March 31, 2014, there were $2,169,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,169,000 in TDRs and the $2,600,000 nonperforming TDRs at March 31, 2014 equal the $4,769,000 in TDRs that were on nonaccrual status at March 31, 2014. Of the $4,195,000 in TDRs which were performing under the modified terms of their agreements at December 31, 2013, there were $2,379,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,379,000 in TDRs and the $3,051,000 nonperforming TDRs at December 31, 2013 equal the $5,430,000 in TDRs that were on nonaccrual status at December 31, 2013. |
LOANS_RECEIVABLE_Details_7
LOANS RECEIVABLE (Details 7) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Loans | Loans | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 5 | 6 |
Pre-Modification Recorded Investment | $248 | $563 |
Post-Modification Recorded Investment | 248 | 623 |
Percentage Of Reduced Interest Rate | 100.00% | 100.00% |
Deferred Principal Payments [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Pre-Modification Recorded Investment | 120 | 170 |
Post-Modification Recorded Investment | 120 | 170 |
Percentage Of Reduced Interest Rate | 48.40% | 27.30% |
Extended Payment Terms [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 5 |
Pre-Modification Recorded Investment | 98 | 393 |
Post-Modification Recorded Investment | 98 | 453 |
Percentage Of Reduced Interest Rate | 39.50% | 72.70% |
Below Market Interest Rate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | ' |
Pre-Modification Recorded Investment | 30 | ' |
Post-Modification Recorded Investment | 30 | ' |
Percentage Of Reduced Interest Rate | 12.10% | ' |
Commercial Business Loans [Member] | Deferred Principal Payments [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | 1 |
Pre-Modification Recorded Investment | ' | 170 |
Post-Modification Recorded Investment | ' | 170 |
Percentage Of Reduced Interest Rate | ' | 27.30% |
Commercial Business Loans [Member] | Extended Payment Terms [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 5 |
Pre-Modification Recorded Investment | 98 | 393 |
Post-Modification Recorded Investment | 98 | 453 |
Percentage Of Reduced Interest Rate | 39.50% | 72.70% |
Commercial Business Loans [Member] | Below Market Interest Rate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 3 | ' |
Pre-Modification Recorded Investment | 30 | ' |
Post-Modification Recorded Investment | 30 | ' |
Percentage Of Reduced Interest Rate | 12.10% | ' |
Real Estate [Member] | One to four family [Member] | Deferred Principal Payments [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-Modification Recorded Investment | 120 | ' |
Post-Modification Recorded Investment | $120 | ' |
Percentage Of Reduced Interest Rate | 48.40% | ' |
LOANS_RECEIVABLE_Details_8
LOANS RECEIVABLE (Details 8) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | $9,891 | $14,500 | ' |
Provision for loan losses | 0 | 300 | ' |
Charge-offs | -184 | -565 | ' |
Recoveries | 158 | 18 | ' |
Ending balance | 9,865 | 14,253 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 216 | 728 | 283 |
Collectively evaluated for impairment | 9,649 | 13,525 | 9,608 |
Total Allowance | 9,865 | 14,253 | 9,891 |
Ending loan balance individually evaluated for impairment | 13,028 | 34,795 | 16,099 |
Ending loan balance collectively evaluated for impairment | 356,809 | 394,475 | 354,416 |
Total Loans | 369,837 | 429,270 | 370,515 |
Industrial and warehouse properties [Member] | ' | ' | ' |
Allowance related to loans: | ' | ' | ' |
Total Loans | 29,625 | ' | 29,996 |
Office Building [Member] | ' | ' | ' |
Allowance related to loans: | ' | ' | ' |
Total Loans | 20,931 | ' | 21,412 |
Retail Site [Member] | ' | ' | ' |
Allowance related to loans: | ' | ' | ' |
Total Loans | 23,283 | ' | 23,519 |
Special use properties [Member] | ' | ' | ' |
Allowance related to loans: | ' | ' | ' |
Total Loans | 31,461 | ' | 31,835 |
Investor owned one to four family and multi family [Member] | ' | ' | ' |
Allowance related to loans: | ' | ' | ' |
Total Loans | 17,029 | ' | 16,372 |
One to four family [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 1,849 | 1,988 | ' |
Provision for loan losses | 117 | 50 | ' |
Charge-offs | -32 | -151 | ' |
Recoveries | 0 | 0 | ' |
Ending balance | 1,934 | 1,887 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 49 | 49 | 70 |
Collectively evaluated for impairment | 1,885 | 1,838 | 1,779 |
Total Allowance | 1,934 | 1,887 | 1,849 |
Ending loan balance individually evaluated for impairment | 6,790 | 5,132 | 7,001 |
Ending loan balance collectively evaluated for impairment | 177,741 | 201,585 | 179,984 |
Total Loans | 184,531 | 206,717 | 186,985 |
Multi Family and Commercial Real Estate [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 5,097 | 4,892 | ' |
Provision for loan losses | 177 | 200 | ' |
Charge-offs | -12 | -224 | ' |
Recoveries | 0 | 9 | ' |
Ending balance | 5,262 | 4,877 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 12 | 346 | 23 |
Collectively evaluated for impairment | 5,250 | 4,531 | 5,074 |
Total Allowance | 5,262 | 4,877 | 5,097 |
Ending loan balance individually evaluated for impairment | 2,872 | 15,573 | 4,085 |
Ending loan balance collectively evaluated for impairment | 119,457 | 127,479 | 119,049 |
Total Loans | 122,329 | 143,052 | 123,134 |
Multi Family and Commercial Real Estate [Member] | Industrial and warehouse properties [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 1,034 | ' | ' |
Provision for loan losses | 32 | ' | ' |
Charge-offs | 0 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 1,066 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 1,066 | ' | 1,034 |
Total Allowance | 1,066 | ' | 1,034 |
Ending loan balance individually evaluated for impairment | 29 | ' | 565 |
Ending loan balance collectively evaluated for impairment | 29,596 | ' | 29,431 |
Total Loans | 29,625 | ' | 29,996 |
Multi Family and Commercial Real Estate [Member] | Office Building [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 563 | ' | ' |
Provision for loan losses | 23 | ' | ' |
Charge-offs | 0 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 586 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 586 | ' | 563 |
Total Allowance | 586 | ' | 563 |
Ending loan balance individually evaluated for impairment | 206 | ' | 206 |
Ending loan balance collectively evaluated for impairment | 20,725 | ' | 21,206 |
Total Loans | 20,931 | ' | 21,412 |
Multi Family and Commercial Real Estate [Member] | Retail Site [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 856 | ' | ' |
Provision for loan losses | 217 | ' | ' |
Charge-offs | 0 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 1,073 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 12 | ' | 23 |
Collectively evaluated for impairment | 1,061 | ' | 833 |
Total Allowance | 1,073 | ' | 856 |
Ending loan balance individually evaluated for impairment | 377 | ' | 547 |
Ending loan balance collectively evaluated for impairment | 22,906 | ' | 22,973 |
Total Loans | 23,283 | ' | 23,519 |
Multi Family and Commercial Real Estate [Member] | Special use properties [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 2,129 | ' | ' |
Provision for loan losses | -36 | ' | ' |
Charge-offs | -12 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 2,081 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 2,081 | ' | 2,129 |
Total Allowance | 2,081 | ' | 2,129 |
Ending loan balance individually evaluated for impairment | 1,106 | ' | 1,600 |
Ending loan balance collectively evaluated for impairment | 30,355 | ' | 30,234 |
Total Loans | 31,461 | ' | 31,835 |
Multi Family and Commercial Real Estate [Member] | Investor owned one to four family and multi family [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 515 | ' | ' |
Provision for loan losses | -59 | ' | ' |
Charge-offs | 0 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 456 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 |
Collectively evaluated for impairment | 456 | ' | 515 |
Total Allowance | 456 | ' | 515 |
Ending loan balance individually evaluated for impairment | 1,154 | ' | 1,167 |
Ending loan balance collectively evaluated for impairment | 15,875 | ' | 15,205 |
Total Loans | 17,029 | ' | 16,372 |
Construction and Land Development [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 1,118 | 4,468 | ' |
Provision for loan losses | 84 | 0 | ' |
Charge-offs | -102 | -6 | ' |
Recoveries | 15 | 0 | ' |
Ending balance | 1,115 | 4,462 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 21 | 117 | 75 |
Collectively evaluated for impairment | 1,094 | 4,345 | 1,043 |
Total Allowance | 1,115 | 4,462 | 1,118 |
Ending loan balance individually evaluated for impairment | 1,584 | 9,843 | 1,854 |
Ending loan balance collectively evaluated for impairment | 3,944 | 9,306 | 3,755 |
Total Loans | 5,528 | 19,149 | 5,609 |
Commercial Business Loans [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 1,443 | 2,725 | ' |
Provision for loan losses | -309 | 50 | ' |
Charge-offs | -36 | -184 | ' |
Recoveries | 57 | 9 | ' |
Ending balance | 1,155 | 2,600 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 88 | 216 | 105 |
Collectively evaluated for impairment | 1,067 | 2,384 | 1,338 |
Total Allowance | 1,155 | 2,600 | 1,443 |
Ending loan balance individually evaluated for impairment | 1,283 | 3,802 | 2,580 |
Ending loan balance collectively evaluated for impairment | 22,967 | 27,512 | 22,926 |
Total Loans | 24,250 | 31,314 | 25,506 |
Consumer Loan [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 384 | 427 | ' |
Provision for loan losses | -69 | 0 | ' |
Charge-offs | -2 | 0 | ' |
Recoveries | 86 | 0 | ' |
Ending balance | 399 | 427 | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 46 | 0 | 10 |
Collectively evaluated for impairment | 353 | 427 | 374 |
Total Allowance | 399 | 427 | 384 |
Ending loan balance individually evaluated for impairment | 499 | 445 | 579 |
Ending loan balance collectively evaluated for impairment | 32,700 | 28,593 | 28,702 |
Total Loans | 33,199 | 29,038 | 29,281 |
Total Multi family and commercial real estate member [Member] | ' | ' | ' |
Allowance for Loan Losses: | ' | ' | ' |
Beginning Balance | 5,097 | ' | ' |
Provision for loan losses | 177 | ' | ' |
Charge-offs | -12 | ' | ' |
Recoveries | 0 | ' | ' |
Ending balance | 5,262 | ' | ' |
Allowance related to loans: | ' | ' | ' |
Individually evaluated for impairment | 12 | ' | 23 |
Collectively evaluated for impairment | 5,250 | ' | 5,074 |
Total Allowance | 5,262 | ' | 5,097 |
Ending loan balance individually evaluated for impairment | 2,872 | ' | 4,085 |
Ending loan balance collectively evaluated for impairment | 119,457 | ' | 119,049 |
Total Loans | $122,329 | ' | $123,134 |
LOANS_RECEIVABLE_Details_Textu
LOANS RECEIVABLE (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||
Financing Receivable, Modifications, Recorded Investment | $7,094,000 | ' | $7,246,000 | ' | ' | ||
Maximum Percentage On Appraised Value Property | 75.00% | ' | ' | ' | ' | ||
Loans and Leases Receivable Impaired Non Performing Non Accrual Of Interest Numbers Of Loan | 62 | ' | 90 | ' | ' | ||
Income Not Recognized On Non Performing Loans | 61,000 | 187,000 | ' | ' | ' | ||
Sale Of Amount Credit Risk Grades | ' | ' | ' | 20,800,000 | ' | ||
Allowance For Loan And Lease Losses Period Increase Decrease Percentage | 0.30% | ' | ' | ' | ' | ||
Bank Non Performing Loan Period Decrease | 2,800,000 | ' | ' | ' | ' | ||
Bank Non Performing Loan Period Decrease Percentage | 20.90% | ' | ' | ' | ' | ||
Commercial loan commitments | 16.90% | ' | ' | ' | ' | ||
Loans and Leases Receivable, Allowance | 9,865,000 | 14,253,000 | 9,891,000 | ' | 14,500,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 26,000 | ' | ' | ' | ' | ||
Bank Non Performing Loan Period Decrease Amount | 2,700,000 | ' | ' | ' | ' | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | 248,000 | 623,000 | ' | ' | ' | ||
Loans and Leases Receivable Impaired Non Performing Non Accrual Of Interest For Less Than Ninety days Due | 27 | ' | 44 | ' | ' | ||
Impaired Financing Receivable Interest Income Cost Recovery Money Method | 61,000 | 71,000 | ' | ' | ' | ||
Financing Receivable Modifications Subsequent Default Non Accrual Status | 4,769,000 | ' | 5,430,000 | ' | ' | ||
Impaired Loans | 10,600,000 | ' | 13,400,000 | ' | ' | ||
Commercial Real Estate Loan Concentrations | 4,300,000 | ' | ' | ' | ' | ||
Performing Financing Receivable [Member] | ' | ' | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||
Financing Receivable, Modifications, Recorded Investment | 4,494,000 | [1] | ' | 4,195,000 | [1] | ' | ' |
Financing Receivable Modifications Subsequent Default Non Accrual Status | ' | ' | 2,379,000 | ' | ' | ||
Nonperforming Financing Receivable [Member] | ' | ' | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||
Financing Receivable, Modifications, Recorded Investment | 2,600,000 | ' | 3,051,000 | ' | ' | ||
Five Loans [Member] | ' | ' | ' | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $248,000 | ' | ' | ' | ' | ||
[1] | Of the $4,494,000 in TDRs which were performing under the modified terms of their agreements at March 31, 2014, there were $2,169,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,169,000 in TDRs and the $2,600,000 nonperforming TDRs at March 31, 2014 equal the $4,769,000 in TDRs that were on nonaccrual status at March 31, 2014. Of the $4,195,000 in TDRs which were performing under the modified terms of their agreements at December 31, 2013, there were $2,379,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of these $2,379,000 in TDRs and the $3,051,000 nonperforming TDRs at December 31, 2013 equal the $5,430,000 in TDRs that were on nonaccrual status at December 31, 2013. |
MORTGAGE_BANKING_ACTIVITY_Deta
MORTGAGE BANKING ACTIVITY (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Non Interest Income [Line Items] | ' | ' |
Gain on sales of loans | $131 | $420 |
Mortgage servicing income | 5 | 82 |
Total | $136 | $502 |
FORECLOSED_REAL_ESTATE_Details
FORECLOSED REAL ESTATE (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Foreclosed Real Estate [Line Items] | ' | ' |
Beginning Balance | $1,846 | $735 |
Additions | 338 | 0 |
Proceeds from dispositions | -978 | -186 |
Loss on sales | -65 | -39 |
Writedowns | -27 | -12 |
Balance at end of period | $1,114 | $498 |
FORECLOSED_REAL_ESTATE_Details1
FORECLOSED REAL ESTATE (Details Textual) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Foreclosed Real Estate [Line Items] | ' |
Number of Real Estate Properties | 7 |
Foreclosed Real Estate Properties Assets | $0.50 |
DEPOSITS_Details
DEPOSITS (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Line Items] | ' | ' |
Noninterest bearing demand deposits | $65,158 | $69,147 |
Interest bearing deposits | ' | ' |
Now accounts and money market accounts | 53,723 | 49,514 |
Savings accounts | 115,672 | 117,004 |
Certificates of deposit | 154,359 | 155,182 |
Total interest bearing deposits | 323,754 | 321,700 |
Total deposits | $388,912 | $390,847 |
Noninterest bearing demand deposits, Percentage | 16.80% | 17.70% |
Now accounts and money market accounts, Percentage | 13.80% | 12.70% |
Savings accounts, Percentage | 29.80% | 29.90% |
Certificates Of Deposit, Percentage | 39.60% | 39.70% |
Total interest bearing deposits, Percentage | 83.20% | 82.30% |
Total deposits, Percentage | 100.00% | 100.00% |
DEPOSITS_Details_1
DEPOSITS (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Line Items] | ' | ' |
One year or less | $72,979 | $74,268 |
Over one year through three years | 56,141 | 50,858 |
Over three years | 25,239 | 30,056 |
Time Deposits Total | $154,359 | $155,182 |
DEPOSITS_Details_Textual
DEPOSITS (Details Textual) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Deposits [Line Items] | ' | ' |
Time Deposits, $100,000 or More | $62,600,000 | $62,500,000 |
Cash, FDIC Insured Amount | 250,000 | ' |
Time Deposits, 250,000 or More | $11,800,000 | $11,500,000 |
FHLB_ADVANCES_Details
FHLB ADVANCES (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' | ||
2014, Amount Due | $8,943 | [1] | $1,377 | [1] |
2015, Amount Due | 5,533 | [1] | 1,500 | [1] |
2016, Amount Due | 12,717 | [1] | 2,800 | [1] |
2017 - 2021, Amount Due | 20,797 | [1] | 18,368 | [1] |
2022 - 2026, Amount Due | 622 | [1] | 638 | [1] |
2027 - 2029, Amount Due | 604 | [1] | 610 | [1] |
Total FHLB advances, Amount Due | $49,216 | [1] | $25,293 | [1] |
2014, Weighted Average Cost | 0.68% | 2.64% | ||
2015, Weighted Average Cost | 0.68% | 0.80% | ||
2016, Weighted Average Cost | 0.81% | 0.90% | ||
2017 - 2021, Weighted Average Cost | 2.34% | 2.56% | ||
2022 - 2026, Weighted Average Cost | 0.27% | 0.27% | ||
2027 - 2029, Weighted Average Cost | 0.00% | 0.00% | ||
Total FHLB advances, Weighted Average Cost | 1.42% | 2.16% | ||
[1] | Amount due includes scheduled principal payments on amortizing advances. |
FHLB_ADVANCES_Details_Textual
FHLB ADVANCES (Details Textual) (Federal Home Loan Bank Advances [Member], USD $) | Mar. 31, 2014 |
Federal Home Loan Bank Advances [Member] | ' |
Federal Home Loan Bank Advances [Line Items] | ' |
Sale of Stock, Price Per Share | $100 |
OTHER_BORROWED_FUNDS_Details
OTHER BORROWED FUNDS (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Borrowed Funds For Repurchase Agreements [Line Items] | ' | ' |
Maximum amount of advances outstanding during the period | $8,355 | $21,256 |
Average advances outstanding during the period | 6,530 | 10,866 |
Weighted average interest rate during the period | 0.01% | 0.24% |
Balance outstanding at end of period | $6,185 | $4,173 |
Weighted average interest rate at end of period | 0.01% | 0.01% |
OTHER_BORROWED_FUNDS_Details_T
OTHER BORROWED FUNDS (Details Textual) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Federal Reserve Bank of Boston [Member] | ' | ' |
Schedule of debt disclosure [Line Items] | ' | ' |
Commercial Real Estate Loans Pledged | $3.30 | $3.40 |
Federal Reserve Bank Held For Reserve Requirement | 2.2 | 0.4 |
Federal Reserve Bank Stock | 2.6 | ' |
Bank Overdrafts [Member] | Federal Home Loan Bank of Boston [Member] | ' | ' |
Schedule of debt disclosure [Line Items] | ' | ' |
Financial Instruments Owned and Pledged as Collateral, Amount Eligible to be Repledged by Counterparty | $1 | ' |
STOCKHOLDERS_EQUITY_Details
STOCKHOLDERS' EQUITY (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share, Basic and Diluted [Line Items] | ' | ' |
Net loss | ($809) | ($591) |
Weighted-average common shares outstanding: | ' | ' |
Basic (in shares) | 6,675,457 | 6,643,093 |
Diluted (in shares) | 6,675,457 | 6,643,093 |
Loss per common share; | ' | ' |
Basic (in dollars per share) | ($0.12) | ($0.09) |
Diluted (in dollars per share) | ($0.12) | ($0.09) |
STOCKHOLDERS_EQUITY_Details_Te
STOCKHOLDERS' EQUITY (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
11.12 Exercise Price [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 102,996 | 192,994 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $11.12 | $11.12 |
12.51 Exercise Price [Member] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,290 | 4,290 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $12.51 | $12.51 |
STOCK_BASED_COMPENSATION_Detai
STOCK BASED COMPENSATION (Details Textual) | 3 Months Ended |
Mar. 31, 2014 | |
Disclosure of equity incentive plan [Line Items] | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Expired Weighted Average Remaining Contractual Term 1 | '10 years |
Stock Options And Restricted Stock Awards Percentage For With in One Year | 0.00% |
Stock Options And Restricted Stock Awards Percentage For Two Through Six Years | 20.00% |
Maximum [Member] | ' |
Disclosure of equity incentive plan [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | '6 years |
FINANCIAL_INSTRUMENTS_WITH_OFF2
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Commitments to extend credit: | ' | ' |
Commercial real estate loan commitments | $23,576 | $12,572 |
Unused home equity lines of credit | 19,148 | 19,169 |
Commercial and industrial loan commitments | 10,052 | 10,153 |
Amounts due on other commitments | 6,870 | 6,618 |
Commercial letters of credit | $1,182 | $1,371 |
FAIR_VALUE_Details
FAIR VALUE (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Cash and cash equivalents, Carrying Value | $11,714 | $26,374 | $34,175 | $23,229 | ||
Investment securities, available-for-sale, Carrying Value | 87,787 | 49,771 | ' | ' | ||
Investment securities, held-to-maturity, Carrying Value | 16,890 | 18,149 | ' | ' | ||
Accrued interest receivable, Carrying Value | 1,735 | 1,494 | ' | ' | ||
FHLB Stock, Carrying value | 5,444 | 5,444 | ' | ' | ||
Financial Liabilities, Carrying Value | ' | ' | ' | ' | ||
Time deposits, Carrying Value | 154,359 | 155,182 | ' | ' | ||
FHLB advances, Carrying value | 49,216 | [1] | 25,293 | [1] | ' | ' |
Mortgagors' escrow accounts, Carrying Value | 2,263 | 4,392 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Investment securities, available-for-sale, Fair Value | 87,787 | 49,771 | ' | ' | ||
Investment securities, held-to-maturity, Fair Value | 17,057 | 18,243 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Cash and cash equivalents, Carrying Value | 9,620 | 26,374 | ' | ' | ||
Accrued interest receivable, Carrying Value | 1,735 | 1,494 | ' | ' | ||
Financial Liabilities, Carrying Value | ' | ' | ' | ' | ||
Demand deposits, savings, Now and money market deposits, Carrying Value | 234,553 | 235,665 | ' | ' | ||
Accrued interest payable, Carrying Value | 66 | 51 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Cash and Cash Equivalents, Fair Value | 9,620 | 26,374 | ' | ' | ||
Accrued interest receivable, Fair Value | 1,735 | 1,494 | ' | ' | ||
Financial Liabilities, Fair Value | ' | ' | ' | ' | ||
Demand deposits, savings, Now and money market deposits, Fair Value | 234,553 | 235,665 | ' | ' | ||
Accrued interest payable, Fair Value | 66 | 51 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Mutual Fund Mortgage Backed Securities [Member] | ' | ' | ' | ' | ||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Investment securities, available-for-sale, Carrying Value | 502 | 499 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Investment securities, available-for-sale, Fair Value | 502 | 499 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Investment securities, held-to-maturity, Carrying Value | 16,890 | 18,149 | ' | ' | ||
Loans held for sale, Carrying Value | 676 | 1,079 | ' | ' | ||
Performing Loans Receivables Carrying Value | 346,897 | 344,468 | ' | ' | ||
Financial Liabilities, Carrying Value | ' | ' | ' | ' | ||
Time deposits, Carrying Value | 154,359 | 155,182 | ' | ' | ||
FHLB advances, Carrying value | 49,216 | 25,293 | ' | ' | ||
Borrowed funds, Carrying Value | 6,185 | 4,173 | ' | ' | ||
Mortgagors' escrow accounts, Carrying Value | 2,263 | 4,392 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Investment securities, held-to-maturity, Fair Value | 17,057 | 18,243 | ' | ' | ||
Loans held for sale, Fair Value | 676 | 1,079 | ' | ' | ||
Performing Loans receivable, net, Fair Value | 349,793 | 347,496 | ' | ' | ||
Financial Liabilities, Fair Value | ' | ' | ' | ' | ||
Time deposits, Fair Value | 156,607 | 157,591 | ' | ' | ||
FHLB advances, Fair value | 49,776 | 25,942 | ' | ' | ||
Borrowed funds, Fair Value | 6,185 | 4,173 | ' | ' | ||
Mortgagors' escrow accounts, Fair Value | 2,263 | 4,392 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Investment Securities [Member] | ' | ' | ' | ' | ||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Investment securities, available-for-sale, Carrying Value | 87,285 | 49,272 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Investment securities, available-for-sale, Fair Value | 87,285 | 49,272 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ||
Financial Assets, Carrying Value | ' | ' | ' | ' | ||
Impaired Loans Receivables Carrying Value | 13,028 | 16,100 | ' | ' | ||
Mortgage servicing assets, Carrying Value | 1,035 | 1,093 | ' | ' | ||
FHLB Stock, Carrying value | 5,444 | 5,444 | ' | ' | ||
Financial Assets, Fair Value | ' | ' | ' | ' | ||
Impaired Loans Receivables Fair Value | 12,812 | 15,816 | ' | ' | ||
Mortgage servicing assets, Fair Value | 1,648 | 1,598 | ' | ' | ||
FHLB Stock, Fair Value | $5,444 | $5,444 | ' | ' | ||
[1] | Amount due includes scheduled principal payments on amortizing advances. |
FAIR_VALUE_Details_1
FAIR VALUE (Details 1) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | $87,787 | $49,771 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 4,861 | ' |
US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 42,233 | 16,506 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 29,242 | 22,869 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 8,674 | 3,738 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 248 | 266 |
Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | ' | 5,893 |
Small Business Administration loan pools [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 2,027 | ' |
Fair Value, Measurements, Recurring [Member] | Mutual fund - fixed income securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 502 | 499 |
Fair Value, Measurements, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 4,861 | ' |
Fair Value, Measurements, Recurring [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 42,233 | 16,506 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 29,242 | 22,869 |
Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 8,674 | 3,738 |
Fair Value, Measurements, Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 248 | 266 |
Fair Value, Measurements, Recurring [Member] | Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | ' | 5,893 |
Fair Value, Measurements, Recurring [Member] | Small Business Administration loan pools [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 2,027 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mutual fund - fixed income securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 502 | 499 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Small Business Administration loan pools [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mutual fund - fixed income securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 4,861 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 42,233 | 16,506 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 29,242 | 22,869 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 8,674 | 3,738 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 248 | 266 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | ' | 5,893 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Small Business Administration loan pools [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 2,027 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mutual fund - fixed income securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | ' |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Auction-Rate Trust Preferred Securities [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | ' | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Small Business Administration loan pools [Member] | ' | ' |
Fair Value Assets Measured on Recurring Basis [Line Items] | ' | ' |
Fair Value, Total | $0 | ' |
FAIR_VALUE_Details_2
FAIR VALUE (Details 2) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||||||
Fair Value On Non Recurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired loans | $10,600 | $13,400 | ' | ' | $12,812 | $15,816 | $0 | $0 | $0 | $0 | $12,812 | $15,816 |
Foreclosed real estate | 1,114 | 1,846 | 498 | 735 | 1,114 | 1,846 | 0 | 0 | 0 | 0 | 1,114 | 1,846 |
Mortgage servicing rights | ' | ' | ' | ' | $1,648 | ' | $0 | ' | $0 | ' | $1,648 | ' |
FAIR_VALUE_Details_Textual
FAIR VALUE (Details Textual) (Remeasured [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Remeasured [Member] | ' |
Fair Value [Line Items] | ' |
Pledged Assets Separately Reported, Loans Pledged as Collateral, at Fair Value, Total | $729,000 |
Fair Value Of Foreclosed Real Estate | 159,000 |
Amortization Of Mortgage Servicing Rights (Msrs) | $1,600,000 |