Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'Alliance Bancorp, Inc. of Pennsylvania | ' |
Entity Central Index Key | '0001500711 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'ALLB | ' |
Entity Common Stock, Shares Outstanding | ' | 4,899,204 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash due from depository institutions | $1,137 | $984 |
Interest bearing deposits with depository institutions | 61,865 | 111,321 |
Total cash and cash equivalents | 63,002 | 112,305 |
Investment securities available for sale | 25,540 | 9,000 |
Mortgage-backed securities available for sale | 5,215 | 7,524 |
Investment securities held to maturity (fair value - 2013, $27,944; 2012, $26,525) | 27,762 | 25,325 |
Loans receivable - net of allowance for loan losses - 2013, $4,504; 2012, $4,919 | 286,879 | 278,876 |
Accrued interest receivable | 1,546 | 1,502 |
Premises and equipment - net | 2,439 | 2,688 |
Other real estate owned (OREO) | 3,023 | 2,092 |
Federal Home Loan Bank (FHLB) stock-at cost | 647 | 1,338 |
Bank owned life insurance | 12,379 | 12,155 |
Deferred tax asset - net | 6,292 | 6,051 |
Prepaid expenses and other assets | 1,319 | 2,059 |
Total Assets | 436,043 | 460,915 |
Liabilities and Stockholders' Equity | ' | ' |
Non-interest bearing deposits | 14,508 | 16,243 |
Interest bearing deposits | 334,607 | 354,794 |
Total deposits | 349,115 | 371,037 |
Other borrowings | 3,536 | 3,261 |
Accrued expenses and other liabilities | 6,757 | 6,615 |
Total Liabilities | 359,408 | 380,913 |
Stockholders' Equity | ' | ' |
Common stock, $.01 par value; shares authorized - 50,000,000; shares issued - 5,474,437; shares outstanding - 2013, 4,917,004; 2012, 5,201,734 | 55 | 55 |
Additional paid-in capital | 56,467 | 56,343 |
Retained earnings | 32,896 | 32,273 |
Common stock acquired by benefit plans | -3,111 | -3,562 |
Accumulated other comprehensive loss | -2,110 | -1,675 |
Treasury stock, at cost: 2013, 557,433 shares; 2012, 272,703 shares | -7,562 | -3,432 |
Total Stockholders' Equity | 76,635 | 80,002 |
Total Liabilities and Stockholders' Equity | $436,043 | $460,915 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition [Parenthetical] (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Fair value, investment securities held to maturity (in dollars) | $27,944 | $26,525 |
Loans and Leases Receivable, Allowance (in dollars) | $4,504 | $4,919 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 5,474,437 | 5,474,437 |
Common stock, shares outstanding | 4,917,004 | 5,201,734 |
Treasury stock, shares | 557,433 | 272,703 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and Dividend Income | ' | ' | ' | ' |
Loans, including fees | $3,837 | $3,934 | $11,367 | $11,806 |
Mortgage-backed securities | 53 | 86 | 182 | 291 |
Investment securities: | ' | ' | ' | ' |
Taxable | 40 | 53 | 91 | 194 |
Tax - exempt | 205 | 268 | 620 | 722 |
Dividends | 2 | 0 | 4 | 1 |
Balances due from depository institutions | 46 | 63 | 165 | 187 |
Total interest and dividend income | 4,183 | 4,404 | 12,429 | 13,201 |
Interest Expense | ' | ' | ' | ' |
Deposits | 604 | 773 | 1,890 | 2,486 |
Other borrowings | 1 | 1 | 4 | 6 |
Total interest expense | 605 | 774 | 1,894 | 2,492 |
Net Interest Income | 3,578 | 3,630 | 10,535 | 10,709 |
Provision for Loan Losses | 150 | 225 | 450 | 975 |
Net Interest Income After Provision for Loan Losses | 3,428 | 3,405 | 10,085 | 9,734 |
Other Income | ' | ' | ' | ' |
Service charges on deposit accounts | 63 | 65 | 190 | 188 |
Other fee income | 44 | 49 | 144 | 154 |
Gain on sale of premises and equipment | 0 | 0 | 0 | 806 |
(Loss) gain on sale of OREO, net | -1 | 125 | -2 | 326 |
Rental income from OREO | 0 | 0 | 0 | 29 |
Increase in cash surrender value of bank owned life insurance | 73 | 76 | 224 | 236 |
Other | 0 | 0 | 0 | 1 |
Total other income | 179 | 315 | 556 | 1,740 |
Other Expenses | ' | ' | ' | ' |
Salaries and employee benefits | 1,711 | 1,697 | 5,195 | 5,062 |
Occupancy and equipment | 471 | 444 | 1,401 | 1,367 |
FDIC deposit insurance premiums | 78 | 104 | 230 | 299 |
Advertising and marketing | 116 | 124 | 319 | 348 |
Professional fees | 186 | 147 | 579 | 472 |
Loan and OREO expense | 29 | 54 | 83 | 189 |
Provision for OREO | 0 | 0 | 106 | 0 |
Directorsb fees | 57 | 61 | 172 | 178 |
Other | 266 | 287 | 843 | 834 |
Total other expenses | 2,914 | 2,918 | 8,928 | 8,749 |
Income Before Income Tax Expense | 693 | 802 | 1,713 | 2,725 |
Income Tax Expense | 160 | 162 | 326 | 618 |
Net Income | $533 | $640 | $1,387 | $2,107 |
Basic Earnings per Share (in dollars per share) | $0.11 | $0.12 | $0.28 | $0.40 |
Dilutive Earnings per Share (in dollars per share) | $0.11 | $0.12 | $0.28 | $0.40 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income | $533 | $640 | $1,387 | $2,107 |
Other Comprehensive Loss | ' | ' | ' | ' |
Unrealized loss on available for sale securities net of tax benefit 2013, $39 and $224; 2012, $21 and $61 | -76 | -41 | -435 | -118 |
Comprehensive Income | $457 | $599 | $952 | $1,989 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income [Parenthetical] (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Tax (expense) benefit of unrealized holding gain (loss) on securities | $39 | $21 | $224 | $61 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Common Stock Acquired by Benefit Plans [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | |||||||
Balance at Dec. 31, 2011 | $82,995 | $55 | $56,175 | $30,819 | ($2,706) | ($1,348) | $0 |
ESOP shares committed to be released | 116 | ' | ' | ' | 116 | ' | ' |
Net income | 2,107 | ' | ' | 2,107 | ' | ' | ' |
Dividends declared ($0.15 per share) | -821 | ' | ' | -821 | ' | ' | ' |
Stock-based compensation (stock options) | 121 | ' | 121 | ' | ' | ' | ' |
Stock-based compensation (restricted stock) | 333 | ' | 333 | ' | ' | ' | ' |
Common stock acquired by 2011 RRP Trust (122,477 shares) | -1,455 | ' | ' | ' | -1,455 | ' | ' |
Acquisition of treasury stock | -1,688 | ' | ' | ' | ' | ' | -1,688 |
Other comprehensive loss | -118 | ' | ' | ' | ' | -118 | ' |
Balance at Sep. 30, 2012 | 81,590 | 55 | 56,296 | 32,105 | -3,712 | -1,466 | -1,688 |
Balance at Dec. 31, 2012 | 80,002 | 55 | 56,343 | 32,273 | -3,562 | -1,675 | -3,432 |
ESOP shares committed to be released | 115 | ' | ' | ' | 115 | ' | ' |
Net income | 1,387 | ' | ' | 1,387 | ' | ' | ' |
Dividends declared ($0.15 per share) | -764 | ' | ' | -764 | ' | ' | ' |
Stock-based compensation (stock options) | 124 | ' | 124 | ' | ' | ' | ' |
Stock-based compensation (restricted stock) | 336 | ' | 336 | ' | ' | ' | ' |
Acquisition of treasury stock | -4,130 | ' | ' | ' | ' | ' | -4,130 |
Other comprehensive loss | -435 | ' | ' | ' | ' | -435 | ' |
Balance at Sep. 30, 2013 | $76,635 | $55 | $56,467 | $32,896 | ($3,111) | ($2,110) | ($7,562) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity [Parenthetical] (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Common stock dividends declared, per share (in dollars per share) | $0.15 | $0.15 |
Common stock acquired by trust (in shares) | ' | 122,477 |
Treasury stock shares acquired (in shares) | 284,730 | 135,103 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flow From Operating Activities | ' | ' |
Net income | $1,387 | $2,107 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' |
Loan losses | 450 | 975 |
Depreciation and amortization | 437 | 384 |
Write-down of OREO | 106 | 0 |
Stock based compensation | 575 | 570 |
Gain on sale of premises and equipment | 0 | -806 |
Loss (gain) on the sale of OREO | 2 | -326 |
Deferred tax (benefit) expense | -17 | 454 |
Increase in cash surrender value of bank owned life insurance | -224 | -236 |
Changes in assets and liabilities which provided (used) cash: | ' | ' |
Accrued expenses and other liabilities | 142 | 7 |
Prepaid expenses and other assets | 740 | 298 |
Accrued interest receivable | -44 | 81 |
Net cash provided by operating activities | 3,554 | 3,508 |
Cash Flow From Investing Activities | ' | ' |
Purchase of investment securities-available for sale | -25,000 | -14,000 |
Purchase of investment securities-held to maturity | -4,275 | -6,425 |
Loans originated and acquired | -54,742 | -49,043 |
Proceeds from maturities and calls of investment securities | 9,838 | 24,132 |
Redemption of FHLB stock | 691 | 347 |
Principal repayments of: | ' | ' |
Loans | 44,360 | 52,629 |
Mortgage-backed securities | 2,110 | 2,803 |
Purchase of premises and equipment | -188 | -732 |
Proceeds from the sale of premises and equipment | 0 | 2,853 |
Improvements in OREO | 0 | -486 |
Proceeds from the sale of OREO | 890 | 2,748 |
Net cash (used in) provided by investing activities | -26,316 | 14,826 |
Cash Flow From Financing Activities | ' | ' |
Dividends paid | -764 | -821 |
Decrease in deposits | -21,922 | -2,601 |
Purchase of treasury stock | -4,130 | -1,688 |
Acquisition of stock by benefit plans | 0 | -1,455 |
Increase (decrease) in other borrowings | 275 | -758 |
Net cash used in financing activities | -26,541 | -7,323 |
(Decrease) increase in Cash and Cash Equivalents | -49,303 | 11,011 |
Cash and Cash Equivalents, Beginning of Year | 112,305 | 95,852 |
Cash and Cash Equivalents, End of Year | 63,002 | 106,863 |
Supplemental Disclosures of Cash Flow Information- | ' | ' |
Interest | 1,895 | 2,498 |
Income taxes | 0 | 0 |
Supplemental Schedule of Noncash Financing and Investing Activities: | ' | ' |
Other real estate acquired in settlement of loans | $1,929 | $4,442 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organizational Structure and Nature Of Operations Disclosure [Abstract] | ' |
Organizational Structure and Nature Of Operations Disclosure [Text Block] | ' |
(1) Organization and Basis of Presentation | |
On January 18, 2011, Alliance Mutual Holding Company and Alliance Bancorp, Inc. of Pennsylvania, the federally chartered mid-tier holding company for Alliance Bank (the “Bank”) completed a reorganization and conversion (the “second step conversion”), pursuant to which Alliance Bancorp, Inc. of Pennsylvania, a new Pennsylvania corporation (“Alliance Bancorp” or the “Company”), acquired all the issued and outstanding shares of the Bank’s common stock. In connection with the second step conversion, 3,258,475 shares of common stock, par value $0.01 per share, of Alliance Bancorp were sold in subscription, community and syndicated community offerings to certain depositors of the Bank and other investors for $10 per share, or $32.6 million in the aggregate (the “Offering”), and 2,215,962 shares of common stock were issued in exchange for the outstanding shares of common stock of the mid-tier holding company, which also was known as Alliance Bancorp, Inc. of Pennsylvania, held by the “public” shareholders of the mid-tier holding company. Each share of common stock of the mid-tier holding company was converted into the right to receive 0.8200 shares of common stock of Alliance Bancorp in the second step conversion. As a result of the second step conversion, the former mutual holding company and the mid-tier company were merged into Alliance Bancorp and 548,524 (pre-conversion) treasury shares were canceled. Additionally, the Bank’s Employee Stock Ownership Plan (“ESOP”) was issued a line of credit for up to $1.9 million, which it used to purchase 50,991 shares of common stock in the Offering and 100,000 additional shares of common stock in the open market following the Offering. | |
The Bank is a community oriented savings bank headquartered in Broomall, Pennsylvania. The Bank operates a total of eight banking offices located in Delaware and Chester Counties, which are suburbs of Philadelphia. The Bank is primarily engaged in attracting deposits from the general public through its branch offices and using such deposits primarily to (i) originate and purchase loans secured by first liens on single-family (one-to-four units) residential and commercial real estate properties and (ii) invest in securities issued by the U.S. Government and agencies thereof, municipal and corporate debt securities and certain mutual funds. The Bank derives its income principally from interest earned on loans, mortgage-backed securities and investments and, to a lesser extent, from fees received in connection with the origination of loans and for other services. The Bank's primary expenses are interest expense on deposits and borrowings and general operating expenses. | |
The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities (the "Department"), as its chartering authority and primary regulator, and by the Federal Deposit Insurance Corporation (the "FDIC"), which insures the Bank's deposits up to applicable limits. As a registered savings and loan holding company, the Company is supervised by the Board of Governors of the Federal Reserve System (“FRB”). | |
Basis of Presentation. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all information or footnotes necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated statement of financial condition at December 31, 2012, has been derived from audited consolidated financial statements but does not include all information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring adjustments or accruals, which are necessary for a fair presentation of the consolidated financial statements, have been included. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results which may be expected for the year ending December 31, 2013 or any other period. All significant intercompany accounts and transactions have been eliminated. For comparative purposes, prior periods’ consolidated financial statements have been reclassified when necessary to conform to report classifications of the current year. The reclassifications had no effect on net income. The unaudited consolidated financial statements presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Subsequent Events. The Company has evaluated events and transactions occurring subsequent to September 30, 2013, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes In Accounting Principles [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
(2) Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date”. The ASU requires the measurement of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement with its co-obligors as well as any additional amount that the entity expects to pay on behalf of its co-obligors. The new standard is effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2013, and early adoption is permitted. The Company is currently evaluating the implications of ASU 2013-04. | |
Segment_Information
Segment Information | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Segment Reporting Disclosure [Text Block] | ' |
(3) Segment Information | |
The Company has no reportable segments. All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Company to fund itself with deposits and other borrowings and manage interest rate and credit risk. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
(4) Earnings Per Share | ||||||||||||||
Earnings per share (“EPS”) consists of two separate components, basic EPS and diluted EPS. Basic EPS is computed based on the weighted average number of shares of common stock outstanding for each period presented. Diluted EPS is calculated based on the weighted average number of shares of common stock outstanding plus dilutive common stock equivalents (“CSEs”). CSEs consist of shares that are assumed to have been purchased with the proceeds from the exercise of stock options, as well as unvested common stock awards. Common stock equivalents which are considered antidilutive are not included for the purposes of this calculation. There were 9,500 and 290,250 anti-dilutive stock options outstanding at September 30, 2013 and September 30, 2012, respectively. | ||||||||||||||
The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Income | $ | 533,000 | $ | 640,000 | $ | 1,387,000 | $ | 2,107,000 | ||||||
Weighted average shares outstanding | 4,995,496 | 5,431,911 | 5,112,008 | 5,460,104 | ||||||||||
Adjusted average unearned ESOP shares | -153,893 | -166,956 | -157,378 | -170,792 | ||||||||||
Weighted average shares outstanding – basic | 4,841,603 | 5,264,955 | 4,954,630 | 5,289,312 | ||||||||||
Effect of dilutive common stock equivalents | 109,858 | 31,741 | 78,495 | 35,784 | ||||||||||
Adjusted weighted average shares outstanding-dilutive | 4,951,461 | 5,296,696 | 5,033,125 | 5,325,096 | ||||||||||
Basic earnings per share | $ | 0.11 | $ | 0.12 | $ | 0.28 | $ | 0.4 | ||||||
Dilutive earnings per share | $ | 0.11 | $ | 0.12 | $ | 0.28 | $ | 0.4 | ||||||
Employee_Stock_Ownership_Plan
Employee Stock Ownership Plan | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||||
Employee Stock Ownership Plan [Text Block] | ' | |||||||
(5) Employee Stock Ownership Plan | ||||||||
The Bank has an Employee Stock Ownership Plan (“ESOP”) for the benefit of employees who meet the eligibility requirements as defined in the ESOP. The ESOP purchased 74,073 shares of common stock in the offering completed on January 30, 2007 using proceeds of a loan from the former mid-tier holding company. The Bank makes quarterly payments of principal and interest over a term of 8 years at a rate of 8.25% to the Company. The ESOP has a second loan from the Company to fund the purchase of 150,991 additional shares in connection with the second step conversion completed on January 18, 2011 under which the Bank makes quarterly payments of principal and interest over a term of 20 years at a rate of 3.25% to the Company. The loans are secured by the shares of the stock purchased. | ||||||||
As the debt is repaid, shares are released from collateral and allocated to qualified employees. As shares are released from collateral, the Company reports compensation expense equal to the current market price of the shares, and the shares become outstanding for earnings per share computations. The compensation expense for the ESOP for the three months ended September 30, 2013 and September 30, 2012 was $38,000 and $38,000, respectively. The compensation expense for the ESOP for the nine months ended September 30, 2013 and September 30, 2012 was $115,000 and $115,000, respectively. | ||||||||
The following table presents the components of the ESOP shares inclusive of shares purchased prior to 2007: | ||||||||
September 30, 2013 | September 30, 2012 | |||||||
Shares released for allocation | 169,370 | 155,430 | ||||||
Unearned shares | 152,161 | 166,101 | ||||||
Total ESOP shares | 321,531 | 321,531 | ||||||
Retirement_Plans
Retirement Plans | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||
(6) Retirement Plans | ||||||||||||||
The Bank has a defined benefit pension plan which covers all full-time employees meeting certain eligibility requirements. The net pension costs included the following components: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 72,065 | $ | 73,153 | $ | 216,195 | $ | 219,459 | ||||||
Interest Cost | 59,165 | 59,083 | 177,495 | 177,249 | ||||||||||
Expected Return on Plan Assets | -85,962 | -100,313 | -296,886 | -300,939 | ||||||||||
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 | ||||||||||
Amortization of Loss | 34,811 | 33,594 | 104,433 | 100,782 | ||||||||||
Net Periodic Benefit Cost | $ | 83,250 | $ | 68,688 | $ | 210,750 | $ | 206,064 | ||||||
The Bank has a Nonqualified Retirement and Death Benefit Agreement (the “Agreement”) with certain officers of the Bank. The purpose of the Agreement is to provide the officers with supplemental retirement benefits equal to a specified percentage of final compensation and a pre-retirement death benefit if the officer does not attain the specific age requirement. A summary of the interim information for the Agreement is as follows: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 13,705 | $ | 12,060 | $ | 41,115 | $ | 36,180 | ||||||
Interest Cost | 49,611 | 43,214 | 148,833 | 129,642 | ||||||||||
Amortization of Loss | 8,684 | 4,726 | 26,052 | 14,178 | ||||||||||
Net Periodic Benefit Cost | $ | 72,000 | $ | 60,000 | $ | 216,000 | $ | 180,000 | ||||||
Fair_Value_Accounting
Fair Value Accounting | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||
(7) Fair Value Accounting | |||||||||||||||
FASB ASC Topic 820, Fair Value Measurement, establishes a fair value hierarchy that prioritizes the inputs to validation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of fair value hierarchy under FASB ASC Topic 820 are as follows: | |||||||||||||||
Level 1: | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||||||||||||||
Level 2: | Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. | ||||||||||||||
Level 3: | Prices or valuation techniques that require inputs that are both significant to fair value measurement and unobservable (i.e. support with little or no market value activity). | ||||||||||||||
An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||
The following methods and assumptions were used to estimate the fair value of certain Company assets and liabilities. | |||||||||||||||
Cash and Cash Equivalents (Carried at Cost). The carrying amounts reported in the consolidated statements of financial condition for cash and short-term instruments approximate those assets’ fair values. | |||||||||||||||
Investment and Mortgage-Backed Securities. The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. | |||||||||||||||
Loans Receivable (Carried at Cost). The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans (Level 3). Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. | |||||||||||||||
Impaired Loans (Generally Carried at Fair Value). Impaired loans are those in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. Appraised values may be discounted based upon management’s historical knowledge and changes in the market conditions from the time of the appraisal. Because of the high degree of judgment required in estimating the fair value of collateral underlying impaired loans, and because of the relationship between fair value and general economic conditions, the Company considers fair values of impaired loans to be highly sensitive to market conditions. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value consists of the loan balances, net of any valuation allowance. At September 30, 2013 and December 31, 2012, the fair value consists of loan balances of $6.7 million and $11.9 million, respectively, net of valuation allowances of $773,000 and $1.2 million, respectively. | |||||||||||||||
Other Real Estate Owned. OREO assets are originally recorded at fair value upon transfer of the loans to OREO. Subsequently, OREO assets are carried at the lower of carrying value or fair value. The fair value of OREO is based on independent appraisals less selling costs. Appraised values may be discounted based upon management’s historical knowledge and changes in the market conditions from the time of the appraisal. Because of the high degree of judgment required in estimating the fair value of OREO and because of the relationship between fair value and general economic conditions, the Company considers fair values of OREO to be highly sensitive to market conditions. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. At September 30, 2013 and December 31, 2012, the fair value consists of OREO balances of $1.5 million and $2.2 million, respectively, net of valuation allowances of $405,000 and $313,000, respectively. | |||||||||||||||
FHLB Stock (Carried at Cost). The carrying amount of FHLB stock approximates fair value and considers the limited marketability of such securities. | |||||||||||||||
Accrued Interest Receivable and Payable (Carried at Cost). The carrying amount of accrued interest receivable and accrued interest payable approximates their fair values. | |||||||||||||||
Deposits (Carried at Cost). The fair values disclosed for demand deposits (e.g., interest and noninterest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts) (Level 1). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits (Level 3). | |||||||||||||||
Other Borrowings (Carried at Cost). The carrying amount of overnight sweep accounts generally approximate fair value. | |||||||||||||||
Off-Balance Sheet Financial Instruments. Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. | |||||||||||||||
The following table summarizes assets measured at fair value on a recurring basis as of September 30, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Prices in | Significant | Significant | |||||||||||||
Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | |||||||||||||
Identical | Inputs | ||||||||||||||
Assets | |||||||||||||||
Obligations of FHLB | $ | 16,642 | $ | — | $ | 16,642 | $ | — | |||||||
Obligations of Freddie Mac | 1,003 | — | 1,003 | — | |||||||||||
Obligations of Fannie Mae | 7,895 | — | 7,895 | — | |||||||||||
Obligations of GNMA | 1,229 | — | 1,229 | — | |||||||||||
Obligations of FHLMC | 1,453 | — | 1,453 | — | |||||||||||
Obligations of FNMA | 2,533 | — | 2,533 | — | |||||||||||
Total | $ | 30,755 | $ | — | $ | 30,755 | $ | — | |||||||
The following table summarizes assets measured at fair value on a recurring basis as of December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Prices in | Significant | Significant | |||||||||||||
Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | |||||||||||||
Identical | Inputs | ||||||||||||||
Assets | |||||||||||||||
Obligations of FHLB | $ | 3,997 | $ | — | $ | 3,997 | $ | — | |||||||
Obligations of Fannie Mae | 5,003 | — | 5,003 | — | |||||||||||
Obligations of GNMA | 1,390 | — | 1,390 | — | |||||||||||
Obligations of FHLMC | 2,247 | — | 2,247 | — | |||||||||||
Obligations of FNMA | 3,887 | — | 3,887 | — | |||||||||||
Total | $ | 16,524 | $ | — | $ | 16,524 | $ | — | |||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2013 are as follows (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||
Active Markets | Other | Unobservable | |||||||||||||
for Identical | Observable | Inputs | |||||||||||||
Assets | Inputs | ||||||||||||||
Impaired loans | $ | 5,897 | $ | — | $ | — | $ | 5,897 | |||||||
Other real estate owned | 1,094 | — | — | 1,094 | |||||||||||
Total | $ | 6,991 | $ | — | $ | — | $ | 6,991 | |||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at September 30, 2013 (in thousands): | |||||||||||||||
Description | Fair Value | Valuation | Unobservable | Range (Weighted | |||||||||||
Technique | Input | Average) | |||||||||||||
Impaired loans | $ | 5,897 | Appraisal of | Appraisal | 0%to -50% (-21%) | ||||||||||
collateral | adjustments (1) | ||||||||||||||
Other real estate owned | 1,094 | Appraisal of | Appraisal | 0% to -15% (-3%) | |||||||||||
collateral | adjustments (1) | ||||||||||||||
Total | $ | 6,991 | |||||||||||||
-1 | Appraisals may be adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | ||||||||||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at December 31, 2012 (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||
Active Markets | Other | Unobservable | |||||||||||||
for Identical | Observable | Inputs | |||||||||||||
Assets | Inputs | ||||||||||||||
Impaired loans | $ | 10,605 | $ | — | $ | — | $ | 10,605 | |||||||
Other real estate owned | 1,851 | — | — | 1,851 | |||||||||||
Total | $ | 12,456 | $ | — | $ | — | $ | 12,456 | |||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2012 are as follows (in thousands): | |||||||||||||||
Description | Fair Value | Valuation | Unobservable | Range (Weighted | |||||||||||
Technique | Input | Average) | |||||||||||||
Impaired loans | $ | 10,605 | Appraisal of | Appraisal | -3% to -30% (-14%) | ||||||||||
collateral | adjustments (1) | ||||||||||||||
Other real estate owned | 1,851 | Appraisal of | Appraisal | -7% to -20% (-20%) | |||||||||||
collateral | adjustments (1) | ||||||||||||||
Total | $ | 12,456 | |||||||||||||
________________ | |||||||||||||||
(1) Appraisals may be adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||||
There were no transfers between levels for the three and nine months ended September 30, 2013. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. | |||||||||||||||
The carrying amount and estimated fair values of the Company’s assets and liabilities were as follows. | |||||||||||||||
At September 30, 2013 | |||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||
Amount | Fair Value | Fair Value | Fair Value | ||||||||||||
(In thousands) | |||||||||||||||
Assets: | |||||||||||||||
Cash and due from banks | $ | 1,137 | $ | 1,137 | $ | — | $ | — | |||||||
Interest bearing deposits at banks | 61,865 | 61,865 | — | — | |||||||||||
Investment securities | 53,302 | — | 53,484 | — | |||||||||||
Mortgage-backed securities | 5,215 | — | 5,215 | — | |||||||||||
Loans receivable | 286,879 | — | — | 288,251 | |||||||||||
FHLB stock | 647 | — | 647 | — | |||||||||||
Accrued interest receivable | 1,546 | — | 1,546 | — | |||||||||||
Liabilities: | |||||||||||||||
NOW and MMDA deposits (1) | $ | 94,822 | $ | 94,822 | $ | — | $ | — | |||||||
Other savings deposits | 51,479 | 51,479 | — | — | |||||||||||
Certificate accounts | 202,814 | — | — | 202,905 | |||||||||||
Other borrowings | 3,536 | 3,536 | — | — | |||||||||||
Accrued interest payable | 8 | — | 8 | — | |||||||||||
Off balance sheet instruments | — | — | — | — | |||||||||||
________________ | |||||||||||||||
(1) Includes non-interest bearing accounts, totaling $14,508. | |||||||||||||||
At December 31, 2012 | |||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||
Amount | Fair Value | Fair Value | Fair Value | ||||||||||||
(In thousands) | |||||||||||||||
Assets: | |||||||||||||||
Cash and due from banks | $ | 984 | $ | 984 | $ | — | $ | — | |||||||
Interest bearing deposits at banks | 111,321 | 111,321 | — | — | |||||||||||
Investment securities | 34,325 | — | 35,525 | — | |||||||||||
Mortgage-backed securities | 7,524 | — | 7,524 | — | |||||||||||
Loans receivable | 278,876 | — | — | 281,111 | |||||||||||
FHLB stock | 1,338 | — | 1,338 | — | |||||||||||
Accrued interest receivable | 1,502 | — | 1,502 | — | |||||||||||
Liabilities: | |||||||||||||||
NOW and MMDA deposits (1) | $ | 98,693 | $ | 98,693 | $ | — | $ | — | |||||||
Other savings deposits | 50,284 | 50,284 | — | — | |||||||||||
Certificate accounts | 222,060 | — | — | 233,400 | |||||||||||
Other borrowings | 3,261 | 3,261 | — | — | |||||||||||
Accrued interest payable | 9 | — | 9 | — | |||||||||||
Off balance sheet instruments | — | — | — | — | |||||||||||
________________ | |||||||||||||||
(1) Includes non-interest bearing accounts, totaling $16,243. | |||||||||||||||
Investment_and_Mortgage_Backed
Investment and Mortgage Backed Securities | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Investment Securities Available For Sale and Held To Maturity [Text Block] | ' | |||||||||||||||||||
(8) Investment and Mortgage Backed Securities | ||||||||||||||||||||
The Bank classifies and accounts for debt and equity securities as follows: | ||||||||||||||||||||
• | Securities Held to Maturity - Securities held to maturity are stated at cost, adjusted for unamortized purchase premiums and discounts, based on the positive intent and the ability to hold these securities to maturity considering all reasonably foreseeable conditions and events. | |||||||||||||||||||
• | Securities Available for Sale - Securities available for sale, carried at fair value, are those securities management might sell in response to changes in market interest rates, increases in loan demand, changes in liquidity needs and other conditions. Unrealized gains and losses, net of tax, are reported as a net amount in accumulated other comprehensive income (loss) until realized. | |||||||||||||||||||
Purchase premiums and discounts are amortized to income over the life of the related security using the interest method. The adjusted cost of a specific security sold is the basis for determining the gain or loss on the sale. | ||||||||||||||||||||
The following table shows the fair value and unrealized losses on investments, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||
At September 30, 2013 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | |||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 19,532 | $ | 468 | $ | — | $ | — | $ | 19,532 | $ | 468 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 10,485 | $ | 250 | $ | — | $ | — | $ | 10,485 | $ | 250 | ||||||||
At December 31, 2012 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Gross | Fair Value | Gross | Fair | Gross | |||||||||||||||
Value | Unrealized | Unrealized | Value | Unrealized | ||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 1,996 | $ | 4 | $ | — | $ | — | $ | 1,996 | $ | 4 | ||||||||
Mortgage-backed securities | 3 | — | — | — | 3 | — | ||||||||||||||
Total securities available for sale | $ | 1,999 | $ | 4 | $ | — | $ | — | $ | 1,999 | $ | 4 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 1,719 | $ | 5 | $ | — | $ | — | $ | 1,719 | $ | 5 | ||||||||
Other-than-temporary impairment, if any, is separated into (a) the amount of the total other-than-temporary impairment related to a decrease in cash flows expected to be collected from the debt security (the credit loss) and (b) the amount of the total other-than-temporary impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized in other comprehensive income. | ||||||||||||||||||||
As of September 30, 2013, management believes that the estimated fair value of the securities disclosed above is primarily dependent upon the movement in market interest rates particularly given the negligible inherent credit risk associated with the issuers of these securities. | ||||||||||||||||||||
Although the fair value will fluctuate as market interest rates move, management believes that these fair values will recover as the underlying portfolios mature. As of September 30, 2013, there were 13 U.S. government obligations in an unrealized loss position, no mortgage-backed securities were in an unrealized loss position, and 14 municipal obligations were in an unrealized loss position. There were no securities in an unrealized loss position for more than twelve months as of September 30, 2013. The Company does not intend to sell any of these securities and it is unlikely that it will be required to sell any of these securities before recovery. Management does not believe any individual unrealized loss as of September 30, 2013 represents an other-than-temporary impairment. | ||||||||||||||||||||
Securities Available for Sale and Held to Maturity | ||||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of securities available for sale and held to maturity are shown below. Where applicable, the maturity distribution and the fair value of securities, by contractual maturity, are shown. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 4,000 | $ | 3 | $ | -1 | $ | 4,002 | ||||||||||||
Due after 5 years through 10 years | 9,000 | 1 | -233 | 8,768 | ||||||||||||||||
Due after 10 years | 4,000 | — | -128 | 3,872 | ||||||||||||||||
Total | $ | 17,000 | $ | 4 | $ | -362 | $ | 16,642 | ||||||||||||
30-Sep-13 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Freddie Mac: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 1,000 | $ | 3 | $ | — | $ | 1,003 | ||||||||||||
Total | $ | 1,000 | $ | 3 | $ | — | $ | 1,003 | ||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 5,000 | $ | 1 | $ | -22 | $ | 4,979 | ||||||||||||
Due after 10 years | 3,000 | — | -84 | 2,916 | ||||||||||||||||
Total | $ | 8,000 | $ | 1 | $ | -106 | $ | 7,895 | ||||||||||||
30-Sep-13 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 196 | $ | — | $ | — | $ | 196 | ||||||||||||
Due after 1 year through 5 years | 5,964 | 33 | -16 | 5,981 | ||||||||||||||||
Due after 5 years through 10 years | 6,075 | 31 | -124 | 5,982 | ||||||||||||||||
Due after 10 years | 15,527 | 368 | -110 | 15,785 | ||||||||||||||||
Total | $ | 27,762 | $ | 432 | $ | -250 | $ | 27,944 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 5 years through 10 years | $ | 4,000 | $ | 1 | $ | -4 | $ | 3,997 | ||||||||||||
Total | $ | 4,000 | $ | 1 | $ | -4 | $ | 3,997 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 3,000 | $ | 2 | $ | — | $ | 3,002 | ||||||||||||
Due after 10 years | 2,000 | 1 | — | 2,001 | ||||||||||||||||
Total | $ | 5,000 | $ | 3 | $ | — | $ | 5,003 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 190 | $ | — | $ | — | $ | 190 | ||||||||||||
Due after 1 year through 5 years | 2,994 | 53 | -2 | 3,045 | ||||||||||||||||
Due after 5 years through 10 years | 4,894 | 108 | — | 5,002 | ||||||||||||||||
Due after 10 years | 17,247 | 1,044 | -3 | 18,288 | ||||||||||||||||
Total | $ | 25,325 | $ | 1,205 | $ | -5 | $ | 26,525 | ||||||||||||
Included in obligations of U.S. Government agencies at September 30, 2013 and December 31, 2012, were $25.6 million and $9.0 million, respectively, of structured notes. These structured notes were comprised of step-up bonds that provide the U.S. Government agency with the right, but not the obligation, to call the bonds on certain dates. There were no sales of investment securities in 2013 or 2012. | ||||||||||||||||||||
Mortgage-Backed Securities Available for Sale | ||||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of mortgage-backed securities available for sale are as follows: | ||||||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,151 | $ | 78 | $ | — | $ | 1,229 | ||||||||||||
FHLMC pass-through certificates | 1,349 | 104 | — | 1,453 | ||||||||||||||||
FNMA pass-through certificates | 2,403 | 130 | — | 2,533 | ||||||||||||||||
Total | $ | 4,903 | $ | 312 | $ | — | $ | 5,215 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,287 | $ | 103 | $ | — | $ | 1,390 | ||||||||||||
FHLMC pass-through certificates | 2,086 | 161 | — | 2,247 | ||||||||||||||||
FNMA pass-through certificates | 3,640 | 247 | — | 3,887 | ||||||||||||||||
Total | $ | 7,013 | $ | 511 | $ | — | $ | 7,524 | ||||||||||||
At September 30, 2013 and December 31, 2012, the Company had $-0- and $3.0 million, respectively, in mortgage-backed securities pledged as collateral for the treasury, tax and loan account and certain deposits. There were no sales of mortgage-backed securities in 2013 or 2012. | ||||||||||||||||||||
Loans_Receivable_Net
Loans Receivable - Net | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||
(9) Loans Receivable - Net | ||||||||
Loans receivable consist of the following: | ||||||||
Dollars in Thousands | At September 30, | At December 31, | ||||||
2013 | 2012 | |||||||
Real estate loans: | ||||||||
Single-family | $ | 124,327 | $ | 126,676 | ||||
Multi-family | 23,253 | 20,935 | ||||||
Commercial | 115,768 | 111,309 | ||||||
Land and construction | 13,461 | 10,654 | ||||||
Commercial business | 10,590 | 9,852 | ||||||
Consumer | 4,714 | 5,348 | ||||||
Total loans receivable | 292,113 | 284,774 | ||||||
Less: | ||||||||
Deferred fees | -730 | -979 | ||||||
Allowance for loan losses | -4,504 | -4,919 | ||||||
Loans receivable - net | $ | 286,879 | $ | 278,876 | ||||
The Company originates loans to customers located primarily in Southeastern Pennsylvania. This geographic concentration of credit exposes the Company to a higher degree of risk associated with this economic region. | ||||||||
Single-family real estate loans primarily consist of first mortgage liens on existing single-family residences and home equity loans. The Company intends to continue to originate permanent loans secured by first mortgage liens and home equity loans on single-family residential properties in the future. | ||||||||
Multi-family and commercial real estate loans are made on terms up to 30 years, some of which include call or balloon provisions ranging from five to 15 years. The Company will originate and purchase these loans either with fixed interest rates or with interest rates which adjust in accordance with a designated index. | ||||||||
The Company also originates residential and commercial construction loans, and to a limited degree, land acquisition and development loans. Construction loans are classified as either residential construction loans or commercial real estate construction loans at the time of origination, depending on the nature of the property securing the loan. | ||||||||
The Company has a commercial loan department to provide a full range of commercial loan products to small business customers in its primary marketing area. These loans generally have shorter terms and higher interest rates as compared to mortgage loans. | ||||||||
The Company offers consumer loans in order to provide a full range of financial services to its customers and because such loans generally have shorter terms and higher interest rates than mortgage loans. The consumer loans presently offered by the Company include deposit account secured loans and lines of credit. | ||||||||
Loan_Credit_Quality
Loan Credit Quality | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Loan Credit Quality [Abstract] | ' | ||||||||||||||||||||||
Loan Credit Quality [Text Block] | ' | ||||||||||||||||||||||
(10) Loan Credit Quality | |||||||||||||||||||||||
For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Generally, when a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. | |||||||||||||||||||||||
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 828 | $ | 210 | $ | 2,150 | $ | 3,188 | $ | 121,139 | $ | 124,327 | $ | 628 | |||||||||
Multi-family | — | — | — | — | 23,253 | 23,253 | — | ||||||||||||||||
Commercial | 677 | 1,034 | 505 | 2,216 | 113,552 | 115,768 | — | ||||||||||||||||
Land and construction | — | — | — | — | 13,461 | 13,461 | — | ||||||||||||||||
Commercial business | — | — | — | — | 10,590 | 10,590 | — | ||||||||||||||||
Consumer | 116 | 136 | 368 | 620 | 4,094 | 4,714 | 368 | ||||||||||||||||
Total | $ | 1,621 | $ | 1,380 | $ | 3,023 | $ | 6,024 | $ | 286,089 | $ | 292,113 | $ | 996 | |||||||||
The following table presents the classes of the loan portfolio summarized by the past due status as of December 31, 2012: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,723 | $ | 496 | $ | 2,406 | $ | 4,625 | $ | 122,051 | $ | 126,676 | $ | 1,742 | |||||||||
Multi-family | — | — | — | — | 20,953 | 20,935 | — | ||||||||||||||||
Commercial | 2,155 | 276 | 2,873 | 5,304 | 106,005 | 111,309 | — | ||||||||||||||||
Land and construction | — | — | — | — | 10,654 | 10,654 | — | ||||||||||||||||
Commercial business | — | — | — | — | 9,852 | 9,852 | — | ||||||||||||||||
Consumer | 148 | 124 | 324 | 596 | 4,752 | 5,348 | 324 | ||||||||||||||||
Total | $ | 4,026 | $ | 896 | $ | 5,603 | $ | 10,525 | $ | 274,249 | $ | 284,774 | $ | 2,066 | |||||||||
The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,522 | $ | 644 | |||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||
Commercial | 505 | 2,873 | |||||||||||||||||||||
Land and construction | — | — | |||||||||||||||||||||
Commercial business | — | — | |||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||
Total non-accruing loans | $ | 2,027 | $ | 3,537 | |||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||
The allowance for loan losses is increased by charges to income and decreased by chargeoffs (net of recoveries). Allowances are provided for specific loans when losses are probable and can be estimated. When this occurs, management considers the remaining principal balance, fair value and estimated net realizable value of the property collateralizing the loan. Current and future operating and/or sales conditions are also considered. These estimates are susceptible to changes that could result in material adjustments to results of operations. Recovery of the carrying value of such loans is dependent to a great extent on economic, operating and other conditions that may be beyond management’s control. | |||||||||||||||||||||||
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. | |||||||||||||||||||||||
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. For loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. An unallocated component, if any, is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||
The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These qualitative risk factors include: | |||||||||||||||||||||||
1. | Lending policies and procedures, including underwriting standards and collection, charge-off, and recovery practices. | ||||||||||||||||||||||
2. | National, regional, and local economic and business conditions as well as the condition of various market segments, including the value of underlying collateral for collateral dependent loans. | ||||||||||||||||||||||
3. | Nature and volume of the portfolio and terms of loans. | ||||||||||||||||||||||
4 | Experience, ability, and depth of lending management and staff. | ||||||||||||||||||||||
5. | Volume and severity of past due, classified and nonaccrual loans as well as and other loan modifications. | ||||||||||||||||||||||
6 | Quality of the Company’s loan review system, and the degree of oversight by the Company’s Board of Directors. | ||||||||||||||||||||||
7. | Existence and effect of any concentrations of credit and changes in the level of such concentrations. | ||||||||||||||||||||||
8 | Effect of external factors, such as competition and legal and regulatory requirements. | ||||||||||||||||||||||
Each factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. | |||||||||||||||||||||||
Single family real estate loans involve certain risks such as interest rate risk and risk of non repayment. Adjustable-rate single family real estate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying property may be adversely affected by higher interest rates. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy or the borrower. | |||||||||||||||||||||||
Multi-family and commercial real estate lending entails significant risks. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for multi-family and commercial real estate as well as economic conditions generally. | |||||||||||||||||||||||
Construction lending is generally considered to involve a high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property's value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Company than construction loans to individuals on their personal residences. | |||||||||||||||||||||||
Commercial business lending is generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business assets. Commercial business loans are primarily secured by inventories and other business. In most cases, any repossessed collateral for a defaulted commercial business loans will not provide an adequate source of repayment of the outstanding loan balance. | |||||||||||||||||||||||
Consumer loans generally have shorter terms and higher interest rates than other lending but generally involve high credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. In addition, consumer lending collections are dependent on the borrower's continuing financial stability, and thus are more likely to be adversely effected by job loss, divorce, illness and personal bankruptcy. In most cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan. | |||||||||||||||||||||||
The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for commercial and construction loans or when credit deficiencies arise, such as delinquent loan payments, for commercial and consumer loans. Credit quality risk ratings include regulatory classifications of special mention, substandard, doubtful and loss. Loans criticized special mention have potential weaknesses that deserve management’s close attention. If uncorrected, the potential weaknesses may result in deterioration of the repayment prospects. Loans classified substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They include loans that are inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified doubtful have all the weaknesses inherent in loans classified substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a loss are considered uncollectible and are charged to the allowance for loan losses. Loans not classified are rated pass. | |||||||||||||||||||||||
While management uses the best information available to make loan loss allowance evaluations, adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance. Historically, our estimates of the allowance for loan losses have not required significant adjustments from management’s initial estimates. In addition, the Department and the FDIC, as an integral part of their examination processes, periodically review our allowance for loan losses. The Department and the FDIC may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them at the time of their examinations. To the extent that actual outcomes differ from management’s estimates, additional provisions to the allowance for loan losses may be required that would adversely impact earnings in future periods. | |||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 953 | $ | 148 | $ | 2,395 | $ | 651 | $ | 10 | $ | 225 | $ | 4,382 | |||||||||
Charge-offs | -8 | — | -18 | — | -4 | — | -30 | ||||||||||||||||
Recoveries | — | — | — | — | 2 | — | 2 | ||||||||||||||||
Provisions | 45 | 97 | 199 | -209 | 3 | 15 | 150 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Charge-offs | -241 | -359 | -310 | — | -6 | — | -916 | ||||||||||||||||
Recoveries | 18 | — | — | 30 | — | 3 | 51 | ||||||||||||||||
Provisions | 186 | -19 | 212 | 60 | -1 | 12 | 450 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 755 | $ | — | $ | — | $ | — | $ | 773 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 972 | $ | 245 | $ | 1,821 | $ | 442 | $ | 11 | $ | 240 | $ | 3,731 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,327 | $ | 23,253 | $ | 115,768 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 292,113 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 555 | $ | — | $ | 9,969 | $ | — | $ | — | $ | — | $ | 10,524 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,772 | $ | 23,253 | $ | 105,799 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 281,589 | |||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2012: | |||||||||||||||||||||||
Beginning balance | $ | 720 | $ | 650 | $ | 2,240 | $ | 432 | $ | 22 | $ | 235 | $ | 4,299 | |||||||||
Charge-offs | -23 | — | -59 | — | -2 | — | -84 | ||||||||||||||||
Recoveries | — | — | 12 | — | 1 | — | 13 | ||||||||||||||||
Provisions | 10 | -78 | 303 | -8 | -1 | -1 | 225 | ||||||||||||||||
Ending balance | $ | 707 | $ | 572 | $ | 2,496 | $ | 424 | $ | 20 | $ | 234 | $ | 4,453 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2012: | |||||||||||||||||||||||
Beginning balance | $ | 693 | $ | 234 | $ | 2,289 | $ | 525 | $ | 20 | $ | 239 | $ | 4,000 | |||||||||
Charge-offs | -42 | — | -59 | -439 | -7 | — | -547 | ||||||||||||||||
Recoveries | 9 | — | 12 | 2 | 2 | — | 25 | ||||||||||||||||
Provisions | 47 | 338 | 254 | 336 | 5 | -5 | 975 | ||||||||||||||||
Ending balance | $ | 707 | $ | 572 | $ | 2,496 | $ | 424 | $ | 20 | $ | 234 | $ | 4,453 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | — | $ | 482 | $ | 689 | $ | — | $ | — | $ | — | $ | 1,171 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 707 | $ | 90 | $ | 1,807 | $ | 424 | $ | 20 | $ | 234 | $ | 3,282 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 120,466 | $ | 12,900 | $ | 116,978 | $ | 16,551 | $ | 9,207 | $ | 5,477 | $ | 281,579 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | — | $ | 3,569 | $ | 7,965 | $ | 3,161 | $ | — | $ | — | $ | 14,695 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 120,466 | $ | 9,331 | $ | 109,013 | $ | 13,390 | $ | 9,207 | $ | 5,477 | $ | 266,884 | |||||||||
The following table presents the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of December 31, 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Ending balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 8 | $ | 436 | $ | 802 | $ | — | $ | — | $ | — | $ | 1,246 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 1,019 | $ | 187 | $ | 1,872 | $ | 352 | $ | 18 | $ | 225 | $ | 3,673 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 126,676 | $ | 20,935 | $ | 111,309 | $ | 10,654 | $ | 5,348 | $ | 9,852 | $ | 284,774 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 564 | $ | 3,815 | $ | 7,895 | $ | — | $ | — | $ | — | $ | 12,274 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 126,112 | $ | 17,120 | $ | 103,414 | $ | 10,654 | $ | 5,348 | $ | 9,852 | $ | 272,500 | |||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of September 30, 2013: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 120,433 | $ | 1,745 | $ | 2,149 | $ | — | $ | 124,327 | |||||||||||||
Multi-family | 23,253 | — | — | — | 23,253 | ||||||||||||||||||
Commercial | 105,799 | 1,822 | 8,147 | — | 115,768 | ||||||||||||||||||
Land and construction | 13,461 | — | — | — | 13,461 | ||||||||||||||||||
Commercial business | 10,590 | — | — | — | 10,590 | ||||||||||||||||||
Consumer | 4,714 | — | — | — | 4,714 | ||||||||||||||||||
Total | $ | 278,250 | $ | 3,567 | $ | 10,296 | $ | — | $ | 292,113 | |||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of December 31, 2012: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 122,821 | $ | 1,409 | $ | 2,446 | $ | — | $ | 126,676 | |||||||||||||
Multi-family | 17,120 | — | 3,815 | — | 20,935 | ||||||||||||||||||
Commercial | 101,911 | 2,680 | 6,718 | — | 111,309 | ||||||||||||||||||
Land and construction | 10,654 | — | — | — | 10,654 | ||||||||||||||||||
Commercial business | 9,852 | — | — | — | 9,852 | ||||||||||||||||||
Consumer | 5,348 | — | — | — | 5,348 | ||||||||||||||||||
Total | $ | 267,706 | $ | 4,089 | $ | 12,979 | $ | — | $ | 284,774 | |||||||||||||
Loan Impairment | |||||||||||||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and industrial loans, commercial real estate loans and commercial construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. | |||||||||||||||||||||||
An allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Currently, estimated fair values of substantially all of the Company’s impaired loans are measured based on the estimated fair value of the loan’s collateral. | |||||||||||||||||||||||
The Company does not separately identify individual single-family loans secured by real estate unless such loans are the subject of a troubled debt restructuring agreement. Large groups of these smaller balance homogeneous loans are collectively evaluated for impairment. | |||||||||||||||||||||||
For multi-family, land and construction, and commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. | |||||||||||||||||||||||
For commercial business loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable agings or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. | |||||||||||||||||||||||
The Company does not separately identify consumer and other loans unless such loans are the subject of a troubled debt restructuring agreement. Large groups of these smaller balance homogeneous loans are collectively evaluated for impairment. | |||||||||||||||||||||||
Loans whose terms are modified are classified as troubled debt restructurings if the Company grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve a below market rate reduction in interest rate or an extension of a loan’s stated maturity date. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive months after modification. Loans classified as troubled debt restructurings are designated as impaired. | |||||||||||||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2013: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 4 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 3,490 | $ | 48 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 4 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 84 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 8 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,969 | $ | 132 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 10 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 2,904 | $ | 143 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 9 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 217 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 19 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,383 | $ | 360 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 1,335 | $ | 1,335 | $ | — | $ | 1,335 | $ | 47 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 23 | |||||||||||||
Commercial | $ | 6,630 | $ | 6,630 | $ | 689 | $ | 6,630 | $ | 75 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 23 | |||||||||||||
Commercial | $ | 7,965 | $ | 7,965 | $ | 689 | $ | 7,496 | $ | 122 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 1,335 | $ | 1,335 | $ | — | $ | 1,335 | $ | 56 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 82 | |||||||||||||
Commercial | $ | 6,630 | $ | 6,630 | $ | 689 | $ | 6,630 | $ | 236 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 82 | |||||||||||||
Commercial | $ | 7,965 | $ | 7,965 | $ | 689 | $ | 7,496 | $ | 292 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
The following table summarizes information in regards to loans classified as impaired loans by loan portfolio class as of and during the year ended December 31, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 423 | $ | 423 | $ | — | $ | 336 | $ | 33 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 564 | $ | 564 | $ | 8 | $ | 424 | $ | 18 | |||||||||||||
Multi-family | $ | 3,815 | $ | 3,815 | $ | 436 | $ | 3,351 | $ | 111 | |||||||||||||
Commercial | $ | 7,472 | $ | 7,472 | $ | 802 | $ | 6,752 | $ | 304 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 564 | $ | 564 | $ | 8 | $ | 424 | $ | 18 | |||||||||||||
Multi-family | $ | 3,815 | $ | 3,815 | $ | 436 | $ | 3,351 | $ | 111 | |||||||||||||
Commercial | $ | 7,895 | $ | 7,895 | $ | 802 | $ | 7,088 | $ | 337 | |||||||||||||
There were no troubled debt restructurings during the three months ended September 30, 2013 or the three months ended September 30, 2012. There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure, during the three months ended September 30, 2013 or the three months ended September 30, 2012. | |||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2013: | |||||||||||||||||||||||
Post-Modification | |||||||||||||||||||||||
Pre-Modification | Outstanding | ||||||||||||||||||||||
Number of | Outstanding Recorded | Recorded | |||||||||||||||||||||
(Dollars in Thousands) | Contracts | Investments | Investments | ||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 921 | ||||||||||||||||||
There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure, during the nine months ended September 30, 2013. | |||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2012: | |||||||||||||||||||||||
Post-Modification | |||||||||||||||||||||||
Pre-Modification | Outstanding | ||||||||||||||||||||||
Number of | Outstanding Recorded | Recorded | |||||||||||||||||||||
(Dollars in Thousands) | Contracts | Investments | Investments | ||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 7 | $ | 3,445 | $ | 3,445 | ||||||||||||||||||
There were no troubled debt restructurings with a payment default, with the payment default occurring in within the 12 months of restructure, during the nine months ended September 30, 2012. | |||||||||||||||||||||||
At September 30, 2013, the Company had three single-family loans with a carrying value of $555,000 and eleven commercial real estate loans with a carrying value of $5.8 million classified as troubled debt restructurings. Of the three single-family real estate loans, two were classified as special mention and one as substandard in the Company’s allowance for loan losses, are to two borrowers, and had a total allowance of $18,000 against them. Of the eleven commercial real estate loans, six were classified as special mention and five were classified as substandard in the Company’s allowance for loan losses. The six loans classified as special mention loans are to two borrowers and have a total allowance of $73,000 against them. The five loans classified as substandard are to five borrowers and have a total allowance of $514,000 against them. All of the troubled debt restructurings consisted of changes in interest rates and no principal was forgiven. | |||||||||||||||||||||||
At December 31, 2012, the Company had one single-family loan with a carrying value of $191,000, two multi-family loans with a carrying value of $3.8 million, and eleven commercial real estate loans with a carrying value of $5.3 million classified as troubled debt restructurings. The one single-family loan was classified as substandard in the Company’s allowance for loan losses and had an $8,000 allowance against it. The two multi-family loans are to one borrower, were classified as substandard in the Company’s allowance for loan losses, and have $436,000 of allowances against them. The eleven commercial real estate loans are to four borrowers and have $557,000 of allowances against them. Eight of the eleven commercial real estate loans are to two borrowers and are classified as special mention in the Company’s allowance for loan losses. Three of the eleven commercial real estate loans and are classified as substandard in the Company’s allowance for loan losses. All of the troubled debt restructurings consisted of changes in interest rates and no principal was forgiven. | |||||||||||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||
(11) Stock-Based Compensation | |||||||
Recognition and Retention Plan and Trust | |||||||
In July of 2011, the shareholders of the Company approved the adoption of the Company’s 2011 Recognition and Retention Plan and Trust (the “2011 RRP”). Pursuant to the terms of the 2011 RRP, awards of up to 218,977 shares of restricted common stock may be granted to employees and directors. In order to fund the 2011 RRP, the 2011 RRP acquired 218,977 shares of the Company’s common stock in the open market for approximately $2.4 million at an average price of $11.14 per share. During 2012 and 2011, the Company made sufficient contributions to the 2011 RRP to fund the purchase of these shares. Pursuant to the terms of the 2011 RRP, no additional shares will be acquired. On July 20, 2011, a total of 208,200 2011 RRP awards were granted. On July 20, 2012, a total of 3,000 2011 RRP awards were granted. The 2011 RRP shares generally vest at the rate of 20% per year over five years. | |||||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the three months ended September 30, 2013 are presented below: | |||||||
Three Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
Shares | date fair value | ||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | ||||
Granted | — | — | |||||
Vested | 42,240 | $ | 11.07 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 127,320 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the nine months ended September 30, 2013 are presented below: | |||||||
Nine Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | ||||
Granted | — | — | |||||
Vested | 42,240 | $ | 11.07 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 127,320 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2012 and changes during the three months ended September 30, 2012 are presented below: | |||||||
Three Months Ended September 30, 2012 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 208,200 | $ | 11.05 | ||||
Granted | 3,000 | $ | 12.47 | ||||
Vested | 41,640 | $ | 11.05 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 169,560 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2012 and changes during the nine months ended September 30, 2012 are presented below: | |||||||
Nine Months Ended September 30, 2012 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 208,200 | $ | 11.05 | ||||
Granted | 3,000 | $ | 12.47 | ||||
Vested | 41,640 | $ | 11.05 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 169,560 | $ | 11.08 | ||||
Compensation expense on 2011 RRP shares granted is recognized ratably over the five year vesting period in an amount which totals the market price of the common stock at the date of grant. During the three months ended September 30, 2013, approximately 10,560 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $112,000 in compensation expense with a related tax benefit of $38,000. During the nine months ended September 30, 2013, approximately 31,680 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $336,000 in compensation expense with a related tax benefit of $114,000. During the three months ended September 30, 2012, approximately 10,560 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $112,000 in compensation expense with a related tax benefit of $38,000. During the nine months ended September 30, 2012, approximately 31,380 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $333,000 in compensation expense with a related tax benefit of $113,000. As of September 30, 2013, approximately $1.2 million in additional compensation expense is scheduled to be recognized over the remaining vesting period of 2.6 years. Under the terms of the 2011 RRP, any unvested 2011 RRP awards will become fully vested upon a change in control of the Company resulting in the full recognition of any unrecognized expense. | |||||||
Stock Options | |||||||
In July 2011, the shareholders of the Company also approved the adoption of the Company’s 2011 Stock Option Plan (the “2011 Option Plan”). Pursuant to the 2011 Option Plan, options to acquire 325,842 shares of common stock may be granted to employees and directors. Under the 2011 Option Plan, options generally become vested and exercisable at the rate of 20% per year over five years and are generally exercisable for a period of ten years after the grant date. On July 20, 2011, options to purchase 277,750 shares of common stock were awarded. On July 20, 2011, options to purchase 9,500 shares of common stock were awarded. As of September 30, 2013, a total of 38,592 shares of common stock have been reserved for future grant pursuant to the 2011 Option Plan. | |||||||
A summary of the status of the Company’s stock options under the 2011 Option Plan as of September 30, 2013, and changes during the three and nine months ended September 30, 2013, is presented below: | |||||||
Three Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average | ||||||
shares | exercise price | ||||||
Options outstanding at the beginning of period | 287,250 | $ | 11.1 | ||||
Granted | — | — | |||||
Exercised | — | — | |||||
Vested | — | — | |||||
Forfeited | — | — | |||||
Options outstanding at the end of period | 287,250 | $ | 11.1 | ||||
Exercisable at end of the period | 111,900 | $ | 11.07 | ||||
Nine Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average | ||||||
Shares | exercise price | ||||||
Options outstanding at the beginning of period | 287,250 | $ | 11.1 | ||||
Granted | — | — | |||||
Exercised | — | — | |||||
Vested | — | — | |||||
Forfeited | — | — | |||||
Options outstanding at the end of period | 287,250 | $ | 11.1 | ||||
Exercisable at end of the period | 111,900 | $ | 11.07 | ||||
The fair value of each option grant was estimated using the Black-Scholes pricing model with the following weighted average assumptions for the options granted in 2011: dividend yield of 2.0%, risk-free interest rate of 1.58%, expected life of 7.0 years, and volatility of 30.34%. The calculated fair value of options granted in 2011 was $2.99. The fair value of each option grant is estimated using the Black-Scholes pricing model with the following weighted average assumptions for the options granted in 2012: dividend yield of 2.0%, risk-free interest rate of 0.71%, expected life of 7.0 years, and volatility of 28.87%. The calculated fair value of options granted in 2012 was $3.08. The weighted average contractual term of the options was 7.8 years at September 30, 2013. | |||||||
During the three months ended September 30, 2013, approximately $41,000 was recognized in compensation expense, with a related $14,000 tax benefit, for the 2011 Option Plan. During the nine months ended September 30, 2013, approximately $124,000 was recognized in compensation expense, with a related $42,000 tax benefit, for the 2011 Option Plan. At September 30, 2013, approximately $459,000 in additional compensation expense for awarded options remained unrecognized. The weighted average period over which this expense will be recognized is approximately 2.6 years. During the three months ended September 30, 2012, approximately $41,000 was recognized in compensation expense, with a related $14,000 tax benefit, for the 2011 Option Plan. During the nine months ended September 30, 2012, approximately $121,000 was recognized in compensation expense, with a related $41,000 tax benefit, for the 2011 Option Plan. | |||||||
Contingent_Obligations
Contingent Obligations | 9 Months Ended |
Sep. 30, 2013 | |
Guarantees [Abstract] | ' |
Guarantees [Text Block] | ' |
(12) Contingent Obligations | |
The Company does not issue any guarantees that would require liability-recognition or disclosure, other than its standby letters of credit. The Company has issued unconditional commitments in the form of standby letters of credit to guarantee payment on behalf of a customer and guarantee the performance of a customer to a third party. Standby letters of credit generally arise in connection with lending relationships. The credit risk involved in issuing these instruments is essentially the same as that involved in extending loans to customers. Contingent obligations under standby letters of credit totaled approximately $1.7 million at September 30, 2013 and $888,000 at December 31, 2012 and represent the maximum potential future payments the Company could be required to make. Typically, these instruments have terms of twelve months or less and expire unused; therefore, the total amounts do not necessarily represent future cash requirements. Each customer is evaluated individually for creditworthiness under the same underwriting standards used for commitments to extend credit for on-balance sheet instruments. Company policies governing loan collateral apply to standby letters of credit at the time of credit extension. Loan-to-value ratios are generally consistent with loan-to-value requirements for other commercial loans secured by similar types of collateral. | |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Organizational Structure and Nature Of Operations Disclosure [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all information or footnotes necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The consolidated statement of financial condition at December 31, 2012, has been derived from audited consolidated financial statements but does not include all information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring adjustments or accruals, which are necessary for a fair presentation of the consolidated financial statements, have been included. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results which may be expected for the year ending December 31, 2013 or any other period. All significant intercompany accounts and transactions have been eliminated. For comparative purposes, prior periods’ consolidated financial statements have been reclassified when necessary to conform to report classifications of the current year. The reclassifications had no effect on net income. The unaudited consolidated financial statements presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Subsequent Events, Policy [Policy Text Block] | ' |
Subsequent Events. The Company has evaluated events and transactions occurring subsequent to September 30, 2013, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||
The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computations. | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Income | $ | 533,000 | $ | 640,000 | $ | 1,387,000 | $ | 2,107,000 | ||||||
Weighted average shares outstanding | 4,995,496 | 5,431,911 | 5,112,008 | 5,460,104 | ||||||||||
Adjusted average unearned ESOP shares | -153,893 | -166,956 | -157,378 | -170,792 | ||||||||||
Weighted average shares outstanding – basic | 4,841,603 | 5,264,955 | 4,954,630 | 5,289,312 | ||||||||||
Effect of dilutive common stock equivalents | 109,858 | 31,741 | 78,495 | 35,784 | ||||||||||
Adjusted weighted average shares outstanding-dilutive | 4,951,461 | 5,296,696 | 5,033,125 | 5,325,096 | ||||||||||
Basic earnings per share | $ | 0.11 | $ | 0.12 | $ | 0.28 | $ | 0.4 | ||||||
Dilutive earnings per share | $ | 0.11 | $ | 0.12 | $ | 0.28 | $ | 0.4 | ||||||
Employee_Stock_Ownership_Plan_
Employee Stock Ownership Plan (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||||
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | ' | |||||||
The following table presents the components of the ESOP shares inclusive of shares purchased prior to 2007: | ||||||||
September 30, 2013 | September 30, 2012 | |||||||
Shares released for allocation | 169,370 | 155,430 | ||||||
Unearned shares | 152,161 | 166,101 | ||||||
Total ESOP shares | 321,531 | 321,531 | ||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Schedule of Costs of Retirement Plans [Table Text Block] | ' | |||||||||||||
The Bank has a defined benefit pension plan which covers all full-time employees meeting certain eligibility requirements. The net pension costs included the following components: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 72,065 | $ | 73,153 | $ | 216,195 | $ | 219,459 | ||||||
Interest Cost | 59,165 | 59,083 | 177,495 | 177,249 | ||||||||||
Expected Return on Plan Assets | -85,962 | -100,313 | -296,886 | -300,939 | ||||||||||
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 | ||||||||||
Amortization of Loss | 34,811 | 33,594 | 104,433 | 100,782 | ||||||||||
Net Periodic Benefit Cost | $ | 83,250 | $ | 68,688 | $ | 210,750 | $ | 206,064 | ||||||
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | |||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||||||
A summary of the interim information for the Agreement is as follows: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 13,705 | $ | 12,060 | $ | 41,115 | $ | 36,180 | ||||||
Interest Cost | 49,611 | 43,214 | 148,833 | 129,642 | ||||||||||
Amortization of Loss | 8,684 | 4,726 | 26,052 | 14,178 | ||||||||||
Net Periodic Benefit Cost | $ | 72,000 | $ | 60,000 | $ | 216,000 | $ | 180,000 | ||||||
Fair_Value_Accounting_Tables
Fair Value Accounting (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||
The following table summarizes assets measured at fair value on a recurring basis as of September 30, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Prices in | Significant | Significant | |||||||||||||
Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | |||||||||||||
Identical | Inputs | ||||||||||||||
Assets | |||||||||||||||
Obligations of FHLB | $ | 16,642 | $ | — | $ | 16,642 | $ | — | |||||||
Obligations of Freddie Mac | 1,003 | — | 1,003 | — | |||||||||||
Obligations of Fannie Mae | 7,895 | — | 7,895 | — | |||||||||||
Obligations of GNMA | 1,229 | — | 1,229 | — | |||||||||||
Obligations of FHLMC | 1,453 | — | 1,453 | — | |||||||||||
Obligations of FNMA | 2,533 | — | 2,533 | — | |||||||||||
Total | $ | 30,755 | $ | — | $ | 30,755 | $ | — | |||||||
The following table summarizes assets measured at fair value on a recurring basis as of December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Prices in | Significant | Significant | |||||||||||||
Active | Other | Unobservable | |||||||||||||
Markets for | Observable | Inputs | |||||||||||||
Identical | Inputs | ||||||||||||||
Assets | |||||||||||||||
Obligations of FHLB | $ | 3,997 | $ | — | $ | 3,997 | $ | — | |||||||
Obligations of Fannie Mae | 5,003 | — | 5,003 | — | |||||||||||
Obligations of GNMA | 1,390 | — | 1,390 | — | |||||||||||
Obligations of FHLMC | 2,247 | — | 2,247 | — | |||||||||||
Obligations of FNMA | 3,887 | — | 3,887 | — | |||||||||||
Total | $ | 16,524 | $ | — | $ | 16,524 | $ | — | |||||||
Fair Value Assets Measured On Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2013 are as follows (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||
Active Markets | Other | Unobservable | |||||||||||||
for Identical | Observable | Inputs | |||||||||||||
Assets | Inputs | ||||||||||||||
Impaired loans | $ | 5,897 | $ | — | $ | — | $ | 5,897 | |||||||
Other real estate owned | 1,094 | — | — | 1,094 | |||||||||||
Total | $ | 6,991 | $ | — | $ | — | $ | 6,991 | |||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at December 31, 2012 (in thousands): | |||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||
Active Markets | Other | Unobservable | |||||||||||||
for Identical | Observable | Inputs | |||||||||||||
Assets | Inputs | ||||||||||||||
Impaired loans | $ | 10,605 | $ | — | $ | — | $ | 10,605 | |||||||
Other real estate owned | 1,851 | — | — | 1,851 | |||||||||||
Total | $ | 12,456 | $ | — | $ | — | $ | 12,456 | |||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | ||||||||||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at September 30, 2013 (in thousands): | |||||||||||||||
Description | Fair Value | Valuation | Unobservable | Range (Weighted | |||||||||||
Technique | Input | Average) | |||||||||||||
Impaired loans | $ | 5,897 | Appraisal of | Appraisal | 0%to -50% (-21%) | ||||||||||
collateral | adjustments (1) | ||||||||||||||
Other real estate owned | 1,094 | Appraisal of | Appraisal | 0% to -15% (-3%) | |||||||||||
collateral | adjustments (1) | ||||||||||||||
Total | $ | 6,991 | |||||||||||||
-1 | Appraisals may be adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | ||||||||||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2012 are as follows (in thousands): | |||||||||||||||
Description | Fair Value | Valuation | Unobservable | Range (Weighted | |||||||||||
Technique | Input | Average) | |||||||||||||
Impaired loans | $ | 10,605 | Appraisal of | Appraisal | -3% to -30% (-14%) | ||||||||||
collateral | adjustments (1) | ||||||||||||||
Other real estate owned | 1,851 | Appraisal of | Appraisal | -7% to -20% (-20%) | |||||||||||
collateral | adjustments (1) | ||||||||||||||
Total | $ | 12,456 | |||||||||||||
________________ | |||||||||||||||
(1) Appraisals may be adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||||
Fair Value By Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||
The carrying amount and estimated fair values of the Company’s assets and liabilities were as follows. | |||||||||||||||
At September 30, 2013 | |||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||
Amount | Fair Value | Fair Value | Fair Value | ||||||||||||
(In thousands) | |||||||||||||||
Assets: | |||||||||||||||
Cash and due from banks | $ | 1,137 | $ | 1,137 | $ | — | $ | — | |||||||
Interest bearing deposits at banks | 61,865 | 61,865 | — | — | |||||||||||
Investment securities | 53,302 | — | 53,484 | — | |||||||||||
Mortgage-backed securities | 5,215 | — | 5,215 | — | |||||||||||
Loans receivable | 286,879 | — | — | 288,251 | |||||||||||
FHLB stock | 647 | — | 647 | — | |||||||||||
Accrued interest receivable | 1,546 | — | 1,546 | — | |||||||||||
Liabilities: | |||||||||||||||
NOW and MMDA deposits (1) | $ | 94,822 | $ | 94,822 | $ | — | $ | — | |||||||
Other savings deposits | 51,479 | 51,479 | — | — | |||||||||||
Certificate accounts | 202,814 | — | — | 202,905 | |||||||||||
Other borrowings | 3,536 | 3,536 | — | — | |||||||||||
Accrued interest payable | 8 | — | 8 | — | |||||||||||
Off balance sheet instruments | — | — | — | — | |||||||||||
________________ | |||||||||||||||
(1) Includes non-interest bearing accounts, totaling $14,508. | |||||||||||||||
At December 31, 2012 | |||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | ||||||||||||
Amount | Fair Value | Fair Value | Fair Value | ||||||||||||
(In thousands) | |||||||||||||||
Assets: | |||||||||||||||
Cash and due from banks | $ | 984 | $ | 984 | $ | — | $ | — | |||||||
Interest bearing deposits at banks | 111,321 | 111,321 | — | — | |||||||||||
Investment securities | 34,325 | — | 35,525 | — | |||||||||||
Mortgage-backed securities | 7,524 | — | 7,524 | — | |||||||||||
Loans receivable | 278,876 | — | — | 281,111 | |||||||||||
FHLB stock | 1,338 | — | 1,338 | — | |||||||||||
Accrued interest receivable | 1,502 | — | 1,502 | — | |||||||||||
Liabilities: | |||||||||||||||
NOW and MMDA deposits (1) | $ | 98,693 | $ | 98,693 | $ | — | $ | — | |||||||
Other savings deposits | 50,284 | 50,284 | — | — | |||||||||||
Certificate accounts | 222,060 | — | — | 233,400 | |||||||||||
Other borrowings | 3,261 | 3,261 | — | — | |||||||||||
Accrued interest payable | 9 | — | 9 | — | |||||||||||
Off balance sheet instruments | — | — | — | — | |||||||||||
________________ | |||||||||||||||
(1) Includes non-interest bearing accounts, totaling $16,243. | |||||||||||||||
Investment_and_Mortgage_Backed1
Investment and Mortgage Backed Securities (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||
The following table shows the fair value and unrealized losses on investments, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||
At September 30, 2013 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Gross | Fair | Gross | Fair | Gross | |||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 19,532 | $ | 468 | $ | — | $ | — | $ | 19,532 | $ | 468 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 10,485 | $ | 250 | $ | — | $ | — | $ | 10,485 | $ | 250 | ||||||||
At December 31, 2012 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Fair | Gross | Fair Value | Gross | Fair | Gross | |||||||||||||||
Value | Unrealized | Unrealized | Value | Unrealized | ||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 1,996 | $ | 4 | $ | — | $ | — | $ | 1,996 | $ | 4 | ||||||||
Mortgage-backed securities | 3 | — | — | — | 3 | — | ||||||||||||||
Total securities available for sale | $ | 1,999 | $ | 4 | $ | — | $ | — | $ | 1,999 | $ | 4 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 1,719 | $ | 5 | $ | — | $ | — | $ | 1,719 | $ | 5 | ||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of securities available for sale and held to maturity are shown below. Where applicable, the maturity distribution and the fair value of securities, by contractual maturity, are shown. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 4,000 | $ | 3 | $ | -1 | $ | 4,002 | ||||||||||||
Due after 5 years through 10 years | 9,000 | 1 | -233 | 8,768 | ||||||||||||||||
Due after 10 years | 4,000 | — | -128 | 3,872 | ||||||||||||||||
Total | $ | 17,000 | $ | 4 | $ | -362 | $ | 16,642 | ||||||||||||
30-Sep-13 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Freddie Mac: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 1,000 | $ | 3 | $ | — | $ | 1,003 | ||||||||||||
Total | $ | 1,000 | $ | 3 | $ | — | $ | 1,003 | ||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 5,000 | $ | 1 | $ | -22 | $ | 4,979 | ||||||||||||
Due after 10 years | 3,000 | — | -84 | 2,916 | ||||||||||||||||
Total | $ | 8,000 | $ | 1 | $ | -106 | $ | 7,895 | ||||||||||||
30-Sep-13 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 196 | $ | — | $ | — | $ | 196 | ||||||||||||
Due after 1 year through 5 years | 5,964 | 33 | -16 | 5,981 | ||||||||||||||||
Due after 5 years through 10 years | 6,075 | 31 | -124 | 5,982 | ||||||||||||||||
Due after 10 years | 15,527 | 368 | -110 | 15,785 | ||||||||||||||||
Total | $ | 27,762 | $ | 432 | $ | -250 | $ | 27,944 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 5 years through 10 years | $ | 4,000 | $ | 1 | $ | -4 | $ | 3,997 | ||||||||||||
Total | $ | 4,000 | $ | 1 | $ | -4 | $ | 3,997 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 3,000 | $ | 2 | $ | — | $ | 3,002 | ||||||||||||
Due after 10 years | 2,000 | 1 | — | 2,001 | ||||||||||||||||
Total | $ | 5,000 | $ | 3 | $ | — | $ | 5,003 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 190 | $ | — | $ | — | $ | 190 | ||||||||||||
Due after 1 year through 5 years | 2,994 | 53 | -2 | 3,045 | ||||||||||||||||
Due after 5 years through 10 years | 4,894 | 108 | — | 5,002 | ||||||||||||||||
Due after 10 years | 17,247 | 1,044 | -3 | 18,288 | ||||||||||||||||
Total | $ | 25,325 | $ | 1,205 | $ | -5 | $ | 26,525 | ||||||||||||
Investment Holdings, Schedule of Investments [Table Text Block] | ' | |||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of mortgage-backed securities available for sale are as follows: | ||||||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,151 | $ | 78 | $ | — | $ | 1,229 | ||||||||||||
FHLMC pass-through certificates | 1,349 | 104 | — | 1,453 | ||||||||||||||||
FNMA pass-through certificates | 2,403 | 130 | — | 2,533 | ||||||||||||||||
Total | $ | 4,903 | $ | 312 | $ | — | $ | 5,215 | ||||||||||||
31-Dec-12 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,287 | $ | 103 | $ | — | $ | 1,390 | ||||||||||||
FHLMC pass-through certificates | 2,086 | 161 | — | 2,247 | ||||||||||||||||
FNMA pass-through certificates | 3,640 | 247 | — | 3,887 | ||||||||||||||||
Total | $ | 7,013 | $ | 511 | $ | — | $ | 7,524 | ||||||||||||
Loans_Receivable_Net_Tables
Loans Receivable - Net (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
Schedule Of Classification Of Loans Receivable [Table Text Block] | ' | |||||||
Loans receivable consist of the following: | ||||||||
Dollars in Thousands | At September 30, | At December 31, | ||||||
2013 | 2012 | |||||||
Real estate loans: | ||||||||
Single-family | $ | 124,327 | $ | 126,676 | ||||
Multi-family | 23,253 | 20,935 | ||||||
Commercial | 115,768 | 111,309 | ||||||
Land and construction | 13,461 | 10,654 | ||||||
Commercial business | 10,590 | 9,852 | ||||||
Consumer | 4,714 | 5,348 | ||||||
Total loans receivable | 292,113 | 284,774 | ||||||
Less: | ||||||||
Deferred fees | -730 | -979 | ||||||
Allowance for loan losses | -4,504 | -4,919 | ||||||
Loans receivable - net | $ | 286,879 | $ | 278,876 | ||||
Loan_Credit_Quality_Tables
Loan Credit Quality (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||
Loan Credit Quality [Abstract] | ' | ||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,522 | $ | 644 | |||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||
Commercial | 505 | 2,873 | |||||||||||||||||||||
Land and construction | — | — | |||||||||||||||||||||
Commercial business | — | — | |||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||
Total non-accruing loans | $ | 2,027 | $ | 3,537 | |||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 953 | $ | 148 | $ | 2,395 | $ | 651 | $ | 10 | $ | 225 | $ | 4,382 | |||||||||
Charge-offs | -8 | — | -18 | — | -4 | — | -30 | ||||||||||||||||
Recoveries | — | — | — | — | 2 | — | 2 | ||||||||||||||||
Provisions | 45 | 97 | 199 | -209 | 3 | 15 | 150 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Charge-offs | -241 | -359 | -310 | — | -6 | — | -916 | ||||||||||||||||
Recoveries | 18 | — | — | 30 | — | 3 | 51 | ||||||||||||||||
Provisions | 186 | -19 | 212 | 60 | -1 | 12 | 450 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 755 | $ | — | $ | — | $ | — | $ | 773 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 972 | $ | 245 | $ | 1,821 | $ | 442 | $ | 11 | $ | 240 | $ | 3,731 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,327 | $ | 23,253 | $ | 115,768 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 292,113 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 555 | $ | — | $ | 9,969 | $ | — | $ | — | $ | — | $ | 10,524 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,772 | $ | 23,253 | $ | 105,799 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 281,589 | |||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2012: | |||||||||||||||||||||||
Beginning balance | $ | 720 | $ | 650 | $ | 2,240 | $ | 432 | $ | 22 | $ | 235 | $ | 4,299 | |||||||||
Charge-offs | -23 | — | -59 | — | -2 | — | -84 | ||||||||||||||||
Recoveries | — | — | 12 | — | 1 | — | 13 | ||||||||||||||||
Provisions | 10 | -78 | 303 | -8 | -1 | -1 | 225 | ||||||||||||||||
Ending balance | $ | 707 | $ | 572 | $ | 2,496 | $ | 424 | $ | 20 | $ | 234 | $ | 4,453 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2012: | |||||||||||||||||||||||
Beginning balance | $ | 693 | $ | 234 | $ | 2,289 | $ | 525 | $ | 20 | $ | 239 | $ | 4,000 | |||||||||
Charge-offs | -42 | — | -59 | -439 | -7 | — | -547 | ||||||||||||||||
Recoveries | 9 | — | 12 | 2 | 2 | — | 25 | ||||||||||||||||
Provisions | 47 | 338 | 254 | 336 | 5 | -5 | 975 | ||||||||||||||||
Ending balance | $ | 707 | $ | 572 | $ | 2,496 | $ | 424 | $ | 20 | $ | 234 | $ | 4,453 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | — | $ | 482 | $ | 689 | $ | — | $ | — | $ | — | $ | 1,171 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 707 | $ | 90 | $ | 1,807 | $ | 424 | $ | 20 | $ | 234 | $ | 3,282 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 120,466 | $ | 12,900 | $ | 116,978 | $ | 16,551 | $ | 9,207 | $ | 5,477 | $ | 281,579 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | — | $ | 3,569 | $ | 7,965 | $ | 3,161 | $ | — | $ | — | $ | 14,695 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 120,466 | $ | 9,331 | $ | 109,013 | $ | 13,390 | $ | 9,207 | $ | 5,477 | $ | 266,884 | |||||||||
The following table presents the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of December 31, 2012: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Ending balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 8 | $ | 436 | $ | 802 | $ | — | $ | — | $ | — | $ | 1,246 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 1,019 | $ | 187 | $ | 1,872 | $ | 352 | $ | 18 | $ | 225 | $ | 3,673 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 126,676 | $ | 20,935 | $ | 111,309 | $ | 10,654 | $ | 5,348 | $ | 9,852 | $ | 284,774 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 564 | $ | 3,815 | $ | 7,895 | $ | — | $ | — | $ | — | $ | 12,274 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 126,112 | $ | 17,120 | $ | 103,414 | $ | 10,654 | $ | 5,348 | $ | 9,852 | $ | 272,500 | |||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of September 30, 2013: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 120,433 | $ | 1,745 | $ | 2,149 | $ | — | $ | 124,327 | |||||||||||||
Multi-family | 23,253 | — | — | — | 23,253 | ||||||||||||||||||
Commercial | 105,799 | 1,822 | 8,147 | — | 115,768 | ||||||||||||||||||
Land and construction | 13,461 | — | — | — | 13,461 | ||||||||||||||||||
Commercial business | 10,590 | — | — | — | 10,590 | ||||||||||||||||||
Consumer | 4,714 | — | — | — | 4,714 | ||||||||||||||||||
Total | $ | 278,250 | $ | 3,567 | $ | 10,296 | $ | — | $ | 292,113 | |||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of December 31, 2012: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 122,821 | $ | 1,409 | $ | 2,446 | $ | — | $ | 126,676 | |||||||||||||
Multi-family | 17,120 | — | 3,815 | — | 20,935 | ||||||||||||||||||
Commercial | 101,911 | 2,680 | 6,718 | — | 111,309 | ||||||||||||||||||
Land and construction | 10,654 | — | — | — | 10,654 | ||||||||||||||||||
Commercial business | 9,852 | — | — | — | 9,852 | ||||||||||||||||||
Consumer | 5,348 | — | — | — | 5,348 | ||||||||||||||||||
Total | $ | 267,706 | $ | 4,089 | $ | 12,979 | $ | — | $ | 284,774 | |||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2013: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 4 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 3,490 | $ | 48 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 4 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 84 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 8 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,969 | $ | 132 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 10 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 2,904 | $ | 143 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 9 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 217 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 19 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,383 | $ | 360 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 1,335 | $ | 1,335 | $ | — | $ | 1,335 | $ | 47 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 23 | |||||||||||||
Commercial | $ | 6,630 | $ | 6,630 | $ | 689 | $ | 6,630 | $ | 75 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 23 | |||||||||||||
Commercial | $ | 7,965 | $ | 7,965 | $ | 689 | $ | 7,496 | $ | 122 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 1,335 | $ | 1,335 | $ | — | $ | 1,335 | $ | 56 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 82 | |||||||||||||
Commercial | $ | 6,630 | $ | 6,630 | $ | 689 | $ | 6,630 | $ | 236 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Multi-family | $ | 3,569 | $ | 3,569 | $ | 482 | $ | 3,569 | $ | 82 | |||||||||||||
Commercial | $ | 7,965 | $ | 7,965 | $ | 689 | $ | 7,496 | $ | 292 | |||||||||||||
Land and construction | $ | 3,161 | $ | 6,188 | $ | — | $ | 3,161 | $ | — | |||||||||||||
The following table summarizes information in regards to loans classified as impaired loans by loan portfolio class as of and during the year ended December 31, 2012: | |||||||||||||||||||||||
Unpaid | Average | Interest Income | |||||||||||||||||||||
Recorded | Principal | Related | Recorded | Recognized | |||||||||||||||||||
(Dollars in Thousands) | Investment | Balance | Allowance | Investment | While Impaired | ||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | $ | 423 | $ | 423 | $ | — | $ | 336 | $ | 33 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 564 | $ | 564 | $ | 8 | $ | 424 | $ | 18 | |||||||||||||
Multi-family | $ | 3,815 | $ | 3,815 | $ | 436 | $ | 3,351 | $ | 111 | |||||||||||||
Commercial | $ | 7,472 | $ | 7,472 | $ | 802 | $ | 6,752 | $ | 304 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 564 | $ | 564 | $ | 8 | $ | 424 | $ | 18 | |||||||||||||
Multi-family | $ | 3,815 | $ | 3,815 | $ | 436 | $ | 3,351 | $ | 111 | |||||||||||||
Commercial | $ | 7,895 | $ | 7,895 | $ | 802 | $ | 7,088 | $ | 337 | |||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2013: | |||||||||||||||||||||||
Post-Modification | |||||||||||||||||||||||
Pre-Modification | Outstanding | ||||||||||||||||||||||
Number of | Outstanding Recorded | Recorded | |||||||||||||||||||||
(Dollars in Thousands) | Contracts | Investments | Investments | ||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 921 | ||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2012: | |||||||||||||||||||||||
Post-Modification | |||||||||||||||||||||||
Pre-Modification | Outstanding | ||||||||||||||||||||||
Number of | Outstanding Recorded | Recorded | |||||||||||||||||||||
(Dollars in Thousands) | Contracts | Investments | Investments | ||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 7 | $ | 3,445 | $ | 3,445 | ||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the three months ended September 30, 2013 are presented below: | |||||||
Three Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
Shares | date fair value | ||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | ||||
Granted | — | — | |||||
Vested | 42,240 | $ | 11.07 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 127,320 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the nine months ended September 30, 2013 are presented below: | |||||||
Nine Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | ||||
Granted | — | — | |||||
Vested | 42,240 | $ | 11.07 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 127,320 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2012 and changes during the three months ended September 30, 2012 are presented below: | |||||||
Three Months Ended September 30, 2012 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 208,200 | $ | 11.05 | ||||
Granted | 3,000 | $ | 12.47 | ||||
Vested | 41,640 | $ | 11.05 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 169,560 | $ | 11.08 | ||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2012 and changes during the nine months ended September 30, 2012 are presented below: | |||||||
Nine Months Ended September 30, 2012 | |||||||
Weighted | |||||||
Number of | average grant | ||||||
shares | date fair value | ||||||
Restricted at the beginning of period | 208,200 | $ | 11.05 | ||||
Granted | 3,000 | $ | 12.47 | ||||
Vested | 41,640 | $ | 11.05 | ||||
Forfeited | — | — | |||||
Restricted at the end of period | 169,560 | $ | 11.08 | ||||
Schedule Of Share Based Compensation Stock Options Activity [Table Text Block] | ' | ||||||
A summary of the status of the Company’s stock options under the 2011 Option Plan as of September 30, 2013, and changes during the three and nine months ended September 30, 2013, is presented below: | |||||||
Three Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average | ||||||
shares | exercise price | ||||||
Options outstanding at the beginning of period | 287,250 | $ | 11.1 | ||||
Granted | — | — | |||||
Exercised | — | — | |||||
Vested | — | — | |||||
Forfeited | — | — | |||||
Options outstanding at the end of period | 287,250 | $ | 11.1 | ||||
Exercisable at end of the period | 111,900 | $ | 11.07 | ||||
Nine Months Ended September 30, 2013 | |||||||
Weighted | |||||||
Number of | average | ||||||
Shares | exercise price | ||||||
Options outstanding at the beginning of period | 287,250 | $ | 11.1 | ||||
Granted | — | — | |||||
Exercised | — | — | |||||
Vested | — | — | |||||
Forfeited | — | — | |||||
Options outstanding at the end of period | 287,250 | $ | 11.1 | ||||
Exercisable at end of the period | 111,900 | $ | 11.07 | ||||
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation (Details Textual) (USD $) | 1 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Jan. 18, 2011 | Sep. 30, 2013 | Dec. 31, 2012 |
Common Stock, Shares Subscribed but Unissued (in shares) | 3,258,475 | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
Stock Offerings Price Per Share (in dollar per share) | $10 | ' | ' |
Proceeds from Issuance or Sale of Equity | $32.60 | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 2,215,962 | ' | ' |
Business Acquisition Equity Interests Conversion Basis | 0.82 | ' | ' |
Treasury Stock, Shares, Retired (in shares) | 548,524 | ' | ' |
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Employer Cash Payments Used for Debt Service | $1.90 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (in shares) | 50,991 | ' | ' |
Employee Stock Ownership Plan (ESOP) Plan Member [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (in shares) | 100,000 | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income | $533 | $640 | $1,387 | $2,107 |
Weighted average shares outstanding | 4,995,496 | 5,431,911 | 5,112,008 | 5,460,104 |
Adjusted average unearned ESOP shares | -153,893 | -166,956 | -157,378 | -170,792 |
Weighted average shares outstanding - basic | 4,841,603 | 5,264,955 | 4,954,630 | 5,289,312 |
Effect of dilutive common stock equivalents | 109,858 | 31,741 | 78,495 | 35,784 |
Adjusted weighted average shares outstanding-dilutive | 4,951,461 | 5,296,696 | 5,033,125 | 5,325,096 |
Basic earnings per share (in dollars per share) | $0.11 | $0.12 | $0.28 | $0.40 |
Dilutive earnings per share (in dollars per share) | $0.11 | $0.12 | $0.28 | $0.40 |
Earnings_Per_Share_Details_Tex
Earnings Per Share (Details Textual) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 9,500 | 290,250 |
Employee_Stock_Ownership_Plan_1
Employee Stock Ownership Plan (Details) | Sep. 30, 2013 | Sep. 30, 2012 |
Shares released for allocation | 169,370 | 155,430 |
Unearned shares | 152,161 | 166,101 |
Total ESOP shares | 321,531 | 321,531 |
Employee_Stock_Ownership_Plan_2
Employee Stock Ownership Plan (Details Textual) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jan. 18, 2011 | Jan. 30, 2007 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 150,991 | 74,073 | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | ' | ' | $38,000 | $38,000 | $115,000 | $115,000 |
Payment Of Principal And Interest Term | '20 years | '8 years | ' | ' | ' | ' |
Employee Stock Ownership Plan Interest Rate | 3.25% | 8.25% | ' | ' | ' | ' |
Retirement_Plans_Details
Retirement Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | $72,065 | $73,153 | $216,195 | $219,459 |
Interest Cost | 59,165 | 59,083 | 177,495 | 177,249 |
Expected Return on Plan Assets | -85,962 | -100,313 | -296,886 | -300,939 |
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 |
Amortization of Loss | 34,811 | 33,594 | 104,433 | 100,782 |
Net Periodic Benefit Cost | $83,250 | $68,688 | $210,750 | $206,064 |
Retirement_Plans_Details_1
Retirement Plans (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | $72,065 | $73,153 | $216,195 | $219,459 |
Interest Cost | 59,165 | 59,083 | 177,495 | 177,249 |
Amortization of Loss | 34,811 | 33,594 | 104,433 | 100,782 |
Net Periodic Benefit Cost | 83,250 | 68,688 | 210,750 | 206,064 |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' | ' | ' |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | 13,705 | 12,060 | 41,115 | 36,180 |
Interest Cost | 49,611 | 43,214 | 148,833 | 129,642 |
Amortization of Loss | 8,684 | 4,726 | 26,052 | 14,178 |
Net Periodic Benefit Cost | $72,000 | $60,000 | $216,000 | $180,000 |
Fair_Value_Accounting_Details
Fair Value Accounting (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets, Fair Value Disclosure, Recurring | $30,755 | $16,524 |
Obligations of FHLB [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 16,642 | 3,997 |
Obligations of Fannie Mae [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 7,895 | 5,003 |
Obligations of Freddie Mac [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,003 | ' |
Obligations of GNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,229 | 1,390 |
Obligations of FHLMC [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,453 | 2,247 |
Obligations of FNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 2,533 | 3,887 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of FHLB [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of Fannie Mae [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of Freddie Mac [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Obligations of GNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of FHLMC [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Obligations of FNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 30,755 | 16,524 |
Fair Value, Inputs, Level 2 [Member] | Obligations of FHLB [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 16,642 | 3,997 |
Fair Value, Inputs, Level 2 [Member] | Obligations of Fannie Mae [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 7,895 | 5,003 |
Fair Value, Inputs, Level 2 [Member] | Obligations of Freddie Mac [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,003 | ' |
Fair Value, Inputs, Level 2 [Member] | Obligations of GNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,229 | 1,390 |
Fair Value, Inputs, Level 2 [Member] | Obligations of FHLMC [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,453 | 2,247 |
Fair Value, Inputs, Level 2 [Member] | Obligations of FNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 2,533 | 3,887 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of FHLB [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of Fannie Mae [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of Freddie Mac [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Obligations of GNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of FHLMC [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Obligations of FNMA [Member] | ' | ' |
Assets, Fair Value Disclosure, Recurring | $0 | $0 |
Fair_Value_Accounting_Details_
Fair Value Accounting (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Impaired loans | $5,897 | $10,605 |
Other real estate owned | 1,094 | 1,851 |
Total | 6,991 | 12,456 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Total | 6,991 | 12,456 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Impaired loans | 5,897 | 10,605 |
Other real estate owned | 1,094 | 1,851 |
Total | $6,991 | $12,456 |
Fair_Value_Accounting_Details_1
Fair Value Accounting (Details 2) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Total | 6,991 | 12,456 | ||
Impaired Loan [Member] | ' | ' | ||
Fair Value Measurements Unobservable Inputs | 'Appraisal adjustments | [1] | 'Appraisal adjustments | [1] |
Impaired Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Impaired loans | 5,897 | 10,605 | ||
Fair Value Measurements, Valuation Techniques | 'Appraisal of collateral | 'Appraisal of collateral | ||
Fair Value Assumptions, Risk Free Interest Rate | 21.00% | 14.00% | ||
Impaired Loan [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Assumptions, Risk Free Interest Rate | 50.00% | 30.00% | ||
Impaired Loan [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Assumptions, Risk Free Interest Rate | 0.00% | 3.00% | ||
Other Real Estate Owned [Member] | ' | ' | ||
Fair Value Measurements Unobservable Inputs | 'Appraisal adjustments | [1] | 'Appraisal adjustments | [1] |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Other real estate owned | 1,094 | 1,851 | ||
Fair Value Measurements, Valuation Techniques | 'Appraisal of collateral | 'Appraisal of collateral | ||
Fair Value Assumptions, Risk Free Interest Rate | 3.00% | 20.00% | ||
Other Real Estate Owned [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Assumptions, Risk Free Interest Rate | 15.00% | 20.00% | ||
Other Real Estate Owned [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Assumptions, Risk Free Interest Rate | 0.00% | 7.00% | ||
[1] | Appraisals may be adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. |
Fair_Value_Accounting_Details_2
Fair Value Accounting (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Cash and due from banks | $1,137 | $984 | ||
Interest bearing deposits at banks | 61,865 | 111,321 | ||
Investment securities | 25,540 | 9,000 | ||
Mortgage-backed securities | 5,215 | 7,524 | ||
Loans receivable | 286,879 | 278,876 | ||
FHLB stock | 647 | 1,338 | ||
Accrued interest receivable | 1,546 | 1,502 | ||
Liabilities: | ' | ' | ||
Other borrowings | 3,536 | 3,261 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 1,137 | 984 | ||
Interest bearing deposits at banks | 61,865 | 111,321 | ||
Investment securities | 0 | 0 | ||
Mortgage-backed securities | 0 | 0 | ||
Loans receivable | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 94,822 | [1] | 98,693 | [2] |
Other savings deposits | 51,479 | 50,284 | ||
Certificate accounts | 0 | 0 | ||
Other borrowings | 3,536 | 3,261 | ||
Accrued interest payable | 0 | 0 | ||
Off balance sheet instruments | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest bearing deposits at banks | 0 | 0 | ||
Investment securities | 53,484 | 35,525 | ||
Mortgage-backed securities | 5,215 | 7,524 | ||
Loans receivable | 0 | 0 | ||
FHLB stock | 647 | 1,338 | ||
Accrued interest receivable | 1,546 | 1,502 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 0 | [1] | 0 | [2] |
Other savings deposits | 0 | 0 | ||
Certificate accounts | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 8 | 9 | ||
Off balance sheet instruments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest bearing deposits at banks | 0 | 0 | ||
Investment securities | 0 | 0 | ||
Mortgage-backed securities | 0 | 0 | ||
Loans receivable | 288,251 | 281,111 | ||
FHLB stock | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 0 | [1] | 0 | [2] |
Other savings deposits | 0 | 0 | ||
Certificate accounts | 202,905 | 233,400 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Off balance sheet instruments | 0 | 0 | ||
Reported Value Measurement [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 1,137 | 984 | ||
Interest bearing deposits at banks | 61,865 | 111,321 | ||
Investment securities | 53,302 | 34,325 | ||
Mortgage-backed securities | 5,215 | 7,524 | ||
Loans receivable | 286,879 | 278,876 | ||
FHLB stock | 647 | 1,338 | ||
Accrued interest receivable | 1,546 | 1,502 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 94,822 | [1] | 98,693 | [2] |
Other savings deposits | 51,479 | 50,284 | ||
Certificate accounts | 202,814 | 222,060 | ||
Other borrowings | 3,536 | 3,261 | ||
Accrued interest payable | 8 | 9 | ||
Off balance sheet instruments | $0 | $0 | ||
[1] | Includes non-interest bearing accounts, totaling $14,508. | |||
[2] | Includes non-interest bearing accounts, totaling $16,243. |
Fair_Value_Accounting_Details_3
Fair Value Accounting (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Loan Receivable Net Of Allowances At Fair Value | $6,700,000 | $11,900,000 |
Impaired Financing Receivable, Related Allowance | 773,000 | 1,200,000 |
Non-interest bearing deposits | 14,508,000 | 16,243,000 |
Other Real Estate, Total | 1,500,000 | 2,200,000 |
Other Real Estate, Valuation Adjustments | $405,000 | $313,000 |
Investment_and_Mortgage_Backed2
Investment and Mortgage Backed Securities (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | $1,999 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 1,999 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | 4 |
U.S. Government obligations [Member] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 19,532 | 1,996 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 468 | 4 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 19,532 | 1,996 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | 468 | 4 |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | ' | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 3 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses | ' | 0 |
Municipal obligations [Member] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,485 | 1,719 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses | 250 | 5 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses | 0 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 10,485 | 1,719 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | $250 | $5 |
Investment_and_Mortgage_Backed3
Investment and Mortgage Backed Securities (Details 1) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Total Amortized Cost | $4,903 | $7,013 |
Total-Gross Unrealized Gains | 312 | 511 |
Total-Gross Unrealized Losses | 0 | 0 |
Total - Fair value, investment securities held to maturity | 27,944 | 26,525 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 4,000 | ' |
Due after 5 years through 10 years-Amortized Cost | 9,000 | 4,000 |
Due after 10 years-Amortized Cost | 4,000 | ' |
Total Amortized Cost | 17,000 | 4,000 |
Due after 1 year through 5 years-Gross Unrealized Gain | 3 | ' |
Due after 5 years through 10 years-Gross Unrealized Gain | 1 | 1 |
Due after 10 years-Gross Unrealized Gain | 0 | ' |
Total-Gross Unrealized Gains | 4 | 1 |
Due after 1 year through 5 years-Gross Unrealized Losses | -1 | ' |
Due after 5 years through 10 years-Gross Unrealized Losses | -233 | -4 |
Due after 10 years-Unrealized losses | -128 | ' |
Total-Gross Unrealized Losses | -362 | -4 |
Due after 1 year through 5 years-Fair Value | 4,002 | ' |
Due after 5 years through 10 years-Fair Value | 8,768 | 3,997 |
Due after 10 years-Fair Value | 3,872 | ' |
Total-Fair Value | 16,642 | 3,997 |
Investment Security Obligations Of Fannie Mae [Member] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 5,000 | 3,000 |
Due after 10 years-Amortized Cost | 3,000 | 2,000 |
Total Amortized Cost | 8,000 | 5,000 |
Due after 1 year through 5 years-Gross Unrealized Gain | 1 | 2 |
Due after 10 years-Gross Unrealized Gain | 0 | 1 |
Total-Gross Unrealized Gains | 1 | 3 |
Due after 1 year through 5 years-Gross Unrealized Losses | -22 | 0 |
Due after 10 years-Unrealized losses | -84 | 0 |
Total-Gross Unrealized Losses | -106 | 0 |
Due after 1 year through 5 years-Fair Value | 4,979 | 3,002 |
Due after 10 years-Fair Value | 2,916 | 2,001 |
Total-Fair Value | 7,895 | 5,003 |
Investments Security Obligations Of Freddie Mac [Member] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 1,000 | ' |
Total Amortized Cost | 1,000 | ' |
Due after 1 year through 5 years-Gross Unrealized Gain | 3 | ' |
Total-Gross Unrealized Gains | 3 | ' |
Due after 1 year through 5 years-Gross Unrealized Losses | 0 | ' |
Total-Gross Unrealized Losses | 0 | ' |
Due after 1 year through 5 years-Fair Value | 1,003 | ' |
Total-Fair Value | 1,003 | ' |
Municipal Bonds [Member] | ' | ' |
Due in 1 year or less-Amortized Cost | 196 | 190 |
Due after 1 years through 5 years-Amortized Cost | 5,964 | 2,994 |
Due after 5 years through 10 years-Amortized Cost | 6,075 | 4,894 |
Due after 10 years-Amortized Cost | 15,527 | 17,247 |
Total-Amortized Cost | 27,762 | 25,325 |
Due in 1 year or less-Gross Unrealized Gains | 0 | 0 |
Due after 1 years through 5 years-Gross Unrealized Gains | 33 | 53 |
Due after 5 years through 10 years-Gross Unrealized Gains | 31 | 108 |
Due after 10 years-Gross Unrealized Gains | 368 | 1,044 |
Total-Gross Unrealized Gains | 432 | 1,205 |
Due in 1 year or less-Gross Unrealized Losses | 0 | 0 |
Due after 1 years through 5 years-Gross Unrealized Losses | -16 | -2 |
Due after 5 years through 10 years-Gross Unrealized Losses | -124 | 0 |
Due after 10 years-Gross Unrealized Losses | -110 | -3 |
Total-Gross Unrealized Gains(Losses) | -250 | -5 |
Due in 1 year or less-Fair Value | 196 | 190 |
Due after 1 years through 5 years-Fair Value | 5,981 | 3,045 |
Due after 5 years through 10 years-Fair Value | 5,982 | 5,002 |
Due after 10 years-Fair Value | 15,785 | 18,288 |
Total - Fair value, investment securities held to maturity | $27,944 | $26,525 |
Investment_and_Mortgage_Backed4
Investment and Mortgage Backed Securities (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Available-for-sale Securities, Amortized Cost Basis | $4,903 | $7,013 |
Available-for-sale Securities, Gross Unrealized Gains | 312 | 511 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Mortgage-backed securities available for sale | 5,215 | 7,524 |
Government National Mortgage Association Certificates and Obligations (Gnma) [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,151 | 1,287 |
Available-for-sale Securities, Gross Unrealized Gains | 78 | 103 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Mortgage-backed securities available for sale | 1,229 | 1,390 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (Fhlmc) [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 1,349 | 2,086 |
Available-for-sale Securities, Gross Unrealized Gains | 104 | 161 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Mortgage-backed securities available for sale | 1,453 | 2,247 |
Federal National Mortgage Association Certificates and Obligations (Fnma) [Member] | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 2,403 | 3,640 |
Available-for-sale Securities, Gross Unrealized Gains | 130 | 247 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Mortgage-backed securities available for sale | $2,533 | $3,887 |
Investment_and_Mortgage_Backed5
Investment and Mortgage Backed Securities (Details Textual) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Mortgage-Backed Securities [Member] | ' | ' |
Financial Instruments, Owned and Pledged as Collateral, at Fair Value | $0 | $3 |
US Treasury Bond Securities [Member] | ' | ' |
Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than 12months | $25.60 | $9 |
Loans_Receivable_Net_Details
Loans Receivable - Net (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Total loans receivable | $292,113 | $284,774 | $281,579 |
Deferred fees | -730 | -979 | ' |
Allowance for loan losses | -4,504 | -4,919 | ' |
Loans receivable - net | 286,879 | 278,876 | ' |
Single-family [Member] | ' | ' | ' |
Total loans receivable | 124,327 | 126,676 | 120,466 |
Multi-family [Member] | ' | ' | ' |
Total loans receivable | 23,253 | 20,935 | 12,900 |
Commercial Real Estate [Member] | ' | ' | ' |
Total loans receivable | 115,768 | 111,309 | 116,978 |
Land and Construction [Member] | ' | ' | ' |
Total loans receivable | 13,461 | 10,654 | 16,551 |
Commercial Business [Member] | ' | ' | ' |
Total loans receivable | 10,590 | 9,852 | 5,477 |
Consumer [Member] | ' | ' | ' |
Total loans receivable | $4,714 | $5,348 | $9,207 |
Loan_Credit_Quality_Details
Loan Credit Quality (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $1,621 | $4,026 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,380 | 896 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 3,023 | 5,603 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 6,024 | 10,525 | ' |
Financing Receivable, Recorded Investment, Current | 286,089 | 274,249 | ' |
Total loans receivable | 292,113 | 284,774 | 281,579 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 996 | 2,066 | ' |
Single-family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 828 | 1,723 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 210 | 496 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 2,150 | 2,406 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 3,188 | 4,625 | ' |
Financing Receivable, Recorded Investment, Current | 121,139 | 122,051 | ' |
Total loans receivable | 124,327 | 126,676 | 120,466 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 628 | 1,742 | ' |
Multi-family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Current | 23,253 | 20,953 | ' |
Total loans receivable | 23,253 | 20,935 | 12,900 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 677 | 2,155 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,034 | 276 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 505 | 2,873 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 2,216 | 5,304 | ' |
Financing Receivable, Recorded Investment, Current | 113,552 | 106,005 | ' |
Total loans receivable | 115,768 | 111,309 | 116,978 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Land and construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Current | 13,461 | 10,654 | ' |
Total loans receivable | 13,461 | 10,654 | 16,551 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Commercial business [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Current | 10,590 | 9,852 | ' |
Total loans receivable | 10,590 | 9,852 | 5,477 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 116 | 148 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 136 | 124 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 368 | 324 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 620 | 596 | ' |
Financing Receivable, Recorded Investment, Current | 4,094 | 4,752 | ' |
Total loans receivable | 4,714 | 5,348 | 9,207 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | $368 | $324 | ' |
Loan_Credit_Quality_Details_1
Loan Credit Quality (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total non-accruing loans | $2,027 | $3,537 |
Single-family [Member] | ' | ' |
Total non-accruing loans | 1,522 | 644 |
Multi-family [Member] | ' | ' |
Total non-accruing loans | 0 | 0 |
Commercial [Member] | ' | ' |
Total non-accruing loans | 505 | 2,873 |
Land and construction [Member] | ' | ' |
Total non-accruing loans | 0 | 0 |
Commercial business [Member] | ' | ' |
Total non-accruing loans | 0 | 0 |
Consumer [Member] | ' | ' |
Total non-accruing loans | $0 | $0 |
Loan_Credit_Quality_Details_2
Loan Credit Quality (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | $4,382 | $4,299 | $4,919 | $4,000 | $4,000 |
Charge-offs | -30 | -84 | -916 | -547 | ' |
Recoveries | 2 | 13 | 51 | 25 | ' |
Provisions | 150 | 225 | 450 | 975 | ' |
Ending balance | 4,504 | 4,453 | 4,504 | 4,453 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 773 | 1,171 | 773 | 1,171 | 1,246 |
collectively evaluated for impairment | 3,731 | 3,282 | 3,731 | 3,282 | 3,673 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 292,113 | 281,579 | 292,113 | 281,579 | 284,774 |
individually evaluated for impairment | 10,524 | 14,695 | 10,524 | 14,695 | 12,274 |
collectively evaluated for impairment | 281,589 | 266,884 | 281,589 | 266,884 | 272,500 |
Single Family [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 953 | 720 | 1,027 | 693 | 693 |
Charge-offs | -8 | -23 | -241 | -42 | ' |
Recoveries | 0 | 0 | 18 | 9 | ' |
Provisions | 45 | 10 | 186 | 47 | ' |
Ending balance | 990 | 707 | 990 | 707 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 18 | 0 | 18 | 0 | 8 |
collectively evaluated for impairment | 972 | 707 | 972 | 707 | 1,019 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 124,327 | 120,466 | 124,327 | 120,466 | 126,676 |
individually evaluated for impairment | 555 | 0 | 555 | 0 | 564 |
collectively evaluated for impairment | 123,772 | 120,466 | 123,772 | 120,466 | 126,112 |
Multi Family [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 148 | 650 | 623 | 234 | 234 |
Charge-offs | 0 | 0 | -359 | 0 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Provisions | 97 | -78 | -19 | 338 | 436 |
Ending balance | 245 | 572 | 245 | 572 | 623 |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 482 | 0 | 482 | 436 |
collectively evaluated for impairment | 245 | 90 | 245 | 90 | 187 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 23,253 | 12,900 | 23,253 | 12,900 | 20,935 |
individually evaluated for impairment | 0 | 3,569 | 0 | 3,569 | 3,815 |
collectively evaluated for impairment | 23,253 | 9,331 | 23,253 | 9,331 | 17,120 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 2,395 | 2,240 | 2,674 | 2,289 | 2,289 |
Charge-offs | -18 | -59 | -310 | -59 | ' |
Recoveries | 0 | 12 | 0 | 12 | ' |
Provisions | 199 | 303 | 212 | 254 | ' |
Ending balance | 2,576 | 2,496 | 2,576 | 2,496 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 755 | 689 | 755 | 689 | 802 |
collectively evaluated for impairment | 1,821 | 1,807 | 1,821 | 1,807 | 1,872 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 115,768 | 116,978 | 115,768 | 116,978 | 111,309 |
individually evaluated for impairment | 9,969 | 7,965 | 9,969 | 7,965 | 7,895 |
collectively evaluated for impairment | 105,799 | 109,013 | 105,799 | 109,013 | 103,414 |
Land and Construction [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 651 | 432 | 352 | 525 | 525 |
Charge-offs | 0 | 0 | 0 | -439 | ' |
Recoveries | 0 | 0 | 30 | 2 | ' |
Provisions | -209 | -8 | 60 | 336 | ' |
Ending balance | 442 | 424 | 442 | 424 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 442 | 424 | 442 | 424 | 352 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 13,461 | 16,551 | 13,461 | 16,551 | 10,654 |
individually evaluated for impairment | 0 | 3,161 | 0 | 3,161 | 0 |
collectively evaluated for impairment | 13,461 | 13,390 | 13,461 | 13,390 | 10,654 |
Consumer [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 10 | 22 | 18 | 20 | 20 |
Charge-offs | -4 | -2 | -6 | -7 | ' |
Recoveries | 2 | 1 | 0 | 2 | ' |
Provisions | 3 | -1 | -1 | 5 | ' |
Ending balance | 11 | 20 | 11 | 20 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 11 | 20 | 11 | 20 | 18 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 4,714 | 9,207 | 4,714 | 9,207 | 5,348 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 4,714 | 9,207 | 4,714 | 9,207 | 5,348 |
Commercial Business [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 225 | 235 | 225 | 239 | 239 |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 3 | 0 | ' |
Provisions | 15 | -1 | 12 | -5 | ' |
Ending balance | 240 | 234 | 240 | 234 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 240 | 234 | 240 | 234 | 225 |
Loans receivable: | ' | ' | ' | ' | ' |
Total loans receivable | 10,590 | 5,477 | 10,590 | 5,477 | 9,852 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | $10,590 | $5,477 | $10,590 | $5,477 | $9,852 |
Loan_Credit_Quality_Details_3
Loan Credit Quality (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Loans and Leases Receivable, Gross, Carrying Amount | $292,113 | $284,774 | $281,579 |
Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 278,250 | 267,706 | ' |
Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 3,567 | 4,089 | ' |
Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 10,296 | 12,979 | ' |
Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Single-family [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 124,327 | 126,676 | 120,466 |
Single-family [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 120,433 | 122,821 | ' |
Single-family [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,745 | 1,409 | ' |
Single-family [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 2,149 | 2,446 | ' |
Single-family [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Multi-family [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 23,253 | 20,935 | 12,900 |
Multi-family [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 23,253 | 17,120 | ' |
Multi-family [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Multi-family [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 3,815 | ' |
Multi-family [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 115,768 | 111,309 | 116,978 |
Commercial [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 105,799 | 101,911 | ' |
Commercial [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,822 | 2,680 | ' |
Commercial [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 8,147 | 6,718 | ' |
Commercial [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 13,461 | 10,654 | 16,551 |
Land and construction [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 13,461 | 10,654 | ' |
Land and construction [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 10,590 | 9,852 | 5,477 |
Commercial business [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 10,590 | 9,852 | ' |
Commercial business [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 4,714 | 5,348 | 9,207 |
Consumer [Member] | Pass [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 4,714 | 5,348 | ' |
Consumer [Member] | Special Mention [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | Substandard [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | Doubtful [Member] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $0 | $0 | ' |
Loan_Credit_Quality_Details_4
Loan Credit Quality (Details 4) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | $773 | ' | $773 | ' | $1,200 |
Single-family [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | 364 | ' | 364 | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Unpaid Principal Balance | 364 | ' | 364 | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 364 | ' | 364 | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Accrual Method | 4 | ' | 10 | ' | ' |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | 191 | ' | 191 | ' | 564 |
Impaired Financing Receivable, With Related Allowance, Unpaid Principal Balance | 191 | ' | 191 | ' | 564 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | 18 | ' | 18 | ' | 8 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 191 | ' | 191 | ' | 424 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Accrual Method | 4 | ' | 9 | ' | 18 |
Impaired Financing Receivable, Recorded Investment | 555 | ' | 555 | ' | 564 |
Impaired Financing Receivable, Unpaid Principal Balance | 555 | ' | 555 | ' | 564 |
Impaired Financing Receivable, Average Recorded Investment | 555 | ' | 555 | ' | 424 |
Impaired Financing Receivable, Interest Income, Accrual Method | 8 | ' | 19 | ' | 18 |
Multi Family [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | ' | 3,569 | ' | 3,569 | 3,815 |
Impaired Financing Receivable, With Related Allowance, Unpaid Principal Balance | ' | 3,569 | ' | 3,569 | 3,815 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | ' | 482 | ' | 482 | 436 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | ' | 3,569 | ' | 3,569 | 3,351 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Accrual Method | ' | 23 | ' | 82 | 111 |
Impaired Financing Receivable, Recorded Investment | ' | 3,569 | ' | 3,569 | 3,815 |
Impaired Financing Receivable, Unpaid Principal Balance | ' | 3,569 | ' | 3,569 | 3,815 |
Impaired Financing Receivable, Average Recorded Investment | ' | 3,569 | ' | 3,569 | 3,351 |
Impaired Financing Receivable, Interest Income, Accrual Method | ' | 23 | ' | 82 | 111 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | 3,490 | 1,335 | 3,490 | 1,335 | 423 |
Impaired Financing Receivable, With No Related Allowance, Unpaid Principal Balance | 3,490 | 1,335 | 3,490 | 1,335 | 423 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 3,490 | 1,335 | 2,904 | 1,335 | 336 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Accrual Method | 48 | 47 | 143 | 56 | 33 |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | 6,479 | 6,630 | 6,479 | 6,630 | 7,472 |
Impaired Financing Receivable, With Related Allowance, Unpaid Principal Balance | 6,555 | 6,630 | 6,555 | 6,630 | 7,472 |
Impaired Financing Receivable, With Related Allowance, Related Allowance | 755 | 689 | 755 | 689 | 802 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 6,479 | 6,630 | 6,479 | 6,630 | 6,752 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Accrual Method | 84 | 75 | 217 | 236 | 304 |
Impaired Financing Receivable, Recorded Investment | 9,969 | 7,965 | 9,969 | 7,965 | 7,895 |
Impaired Financing Receivable, Unpaid Principal Balance | 10,045 | 7,965 | 10,045 | 7,965 | 7,895 |
Impaired Financing Receivable, Average Recorded Investment | 9,969 | 7,496 | 9,383 | 7,496 | 7,088 |
Impaired Financing Receivable, Interest Income, Accrual Method | 132 | 122 | 360 | 292 | 337 |
Land and Construction [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | ' | 3,161 | ' | 3,161 | ' |
Impaired Financing Receivable, With No Related Allowance, Unpaid Principal Balance | ' | 6,188 | ' | 6,188 | ' |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | ' | 3,161 | ' | 3,161 | ' |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Accrual Method | ' | 0 | ' | 0 | ' |
Impaired Financing Receivable, Recorded Investment | ' | 3,161 | ' | 3,161 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | ' | 6,188 | ' | 6,188 | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | 3,161 | ' | 3,161 | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | ' | $0 | ' | $0 | ' |
Loan_Credit_Quality_Details_5
Loan Credit Quality (Details 5) (Commercial [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Commercial [Member] | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number Of Contracts | 2 | 7 |
Financing Receivable Modifications, Pre Modification Recorded Investments | $891 | $3,445 |
Financing Receivable Modifications, Post Modification Recorded Investments | $921 | $3,445 |
Loan_Credit_Quality_Details_Te
Loan Credit Quality (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2011 | |
Provision for Loan and Lease Losses | $150,000 | $225,000 | $450,000 | $975,000 | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 4,504,000 | 4,453,000 | 4,504,000 | 4,453,000 | 4,919,000 | 4,382,000 | 4,299,000 | 4,000,000 |
Four Loans [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 514,000 | ' | 514,000 | ' | ' | ' | ' | ' |
Seven Loans [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | 73,000 | ' | ' | ' | ' | ' |
Single-family [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 555,000 | ' | 555,000 | ' | 191,000 | ' | ' | ' |
Provision for Loan and Lease Losses | 45,000 | 10,000 | 186,000 | 47,000 | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 990,000 | 707,000 | 990,000 | 707,000 | 1,027,000 | 953,000 | 720,000 | 693,000 |
Eleven Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 5,800,000 | ' | 5,800,000 | ' | 5,300,000 | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | ' | ' | 557,000 | ' | ' | ' |
Multi Family [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | ' | ' | ' | 3,800,000 | ' | ' | ' |
Provision for Loan and Lease Losses | 97,000 | -78,000 | -19,000 | 338,000 | 436,000 | ' | ' | ' |
Loans and Leases Receivable, Allowance | 245,000 | 572,000 | 245,000 | 572,000 | 623,000 | 148,000 | 650,000 | 234,000 |
Two Borrowers [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | 18,000,000 | ' | ' | ' | ' | ' |
One Single Family [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | ' | ' | $8,000,000 | ' | ' | ' |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (RRP 2011 [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
RRP 2011 [Member] | ' | ' | ' | ' |
Restricted at the beginning of period-Number of shares | 169,560 | 208,200 | 169,560 | 208,200 |
Granted-Number of shares | 0 | 3,000 | 0 | 3,000 |
Vested-Number of shares | 42,240 | 41,640 | 42,240 | 41,640 |
Forfeited-Number of shares | 0 | 0 | 0 | 0 |
Restricted at the end of period-Number of shares | 127,320 | 169,560 | 127,320 | 169,560 |
Restricted at the beginning of period-Weighted average grant date fair value | $11.08 | $11.05 | $11.08 | $11.05 |
Granted-Weighted average grant date fair value | $0 | $12.47 | $0 | $12.47 |
Vested-Weighted average grant date fair value | $11.07 | $11.05 | $11.07 | $11.05 |
Forfeited-Weighted average grant date fair value | $0 | $0 | $0 | $0 |
Restricted at the end of period-Weighted average grant date fair value | $11.08 | $11.08 | $11.08 | $11.08 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (Stock Option Plan 2011 [Member], USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Stock Option Plan 2011 [Member] | ' | ' |
Options outstanding at the beginning of period-Number of shares | 287,250 | 287,250 |
Granted-Number of shares | 0 | 0 |
Exercised-Number of shares | 0 | 0 |
Vested-Number of shares | 0 | 0 |
Forfeited-Number of shares | 0 | 0 |
Options outstanding at the end of period-Number of shares | 287,250 | 287,250 |
Exercisable at end of the period-Number of shares | 111,900 | 111,900 |
Options outstanding at the beginning of period-Weighted average exercise price | $11.10 | $11.10 |
Granted-Weighted average exercise price | $0 | $0 |
Exercised-Weighted average exercise price | $0 | $0 |
Vested-Weighted average exercise price | $0 | $0 |
Forfeited-Weighted average exercise price | $0 | $0 |
Options outstanding at the end of period-Weighted average exercise price | $11.10 | $11.10 |
Exercisable at the end of the period-Weighted average exercise price | $11.07 | $11.07 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details Textual) (USD $) | 0 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
Jul. 31, 2012 | Jul. 31, 2011 | Jan. 18, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 20, 2011 | Jul. 31, 2012 | Jul. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (in shares) | ' | ' | 50,991 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218,977 | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,400,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased (in dollar per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.14 | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000 | 208,200 | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 7 months 6 days | ' | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | ' | ' | ' | 31,680 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,560 | 10,560 | ' | 31,380 |
Share-Based Compensation Arrangement By Share-Based Payment Award Accelerated Compensation Cost | ' | ' | ' | 336,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,000 | 112,000 | ' | 333,000 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | ' | ' | ' | 114,000 | ' | ' | 14,000 | 14,000 | 42,000 | 41,000 | ' | ' | ' | ' | 38,000 | 38,000 | 113,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | 1,200,000 | ' |
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 7 months 6 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in shares) | ' | ' | ' | ' | ' | 277,750 | ' | ' | ' | ' | 9,500 | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | ' | ' | ' | ' | ' | ' | 38,592 | ' | 38,592 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.71% | 1.58% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fairvalue Assumptions Expected Terms | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 28.87% | 30.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $3.08 | $2.99 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Terms1 | ' | ' | ' | '7 years 9 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | 575,000 | 570,000 | ' | 41,000 | 41,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized To Purchase (in shares) | ' | ' | ' | ' | ' | 325,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Rate | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | ' | ' | ' | $459,000 | ' | ' | $124,000 | $121,000 | $124,000 | $121,000 | ' | ' | ' | ' | ' | ' | ' |
Contingent_Obligations_Details
Contingent Obligations (Details Textual) (Standby Letters of Credit [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Standby Letters of Credit [Member] | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | $1,700,000 | $888,000 |