Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 26, 2014 | Jun. 28, 2013 | |
Document and Entity Information: | ' | ' | ' |
Entity Registrant Name | 'Sunshine Financial Inc | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0001500837 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 1,131,954 | ' |
Entity Public Float | ' | ' | $15,700,000 |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
SUNSHINE_FINANCIAL_INC_AND_SUB
SUNSHINE FINANCIAL, INC. AND SUBSIDIARIES -- Consolidated Balance Sheets (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | ' | ' |
Cash and due from banks | $620 | $1,529 |
Interest-bearing deposits with banks | 13,835 | 25,380 |
Cash and cash equivalents | 14,455 | 26,909 |
Securities held to maturity | 26,624 | 15,441 |
Loans, net | 95,479 | 95,335 |
Premises and equipment, net | 5,107 | 3,321 |
Federal Home Loan Bank stock, at cost | 177 | 218 |
Deferred income taxes | 2,556 | 2,712 |
Accrued interest receivable | 311 | 367 |
Foreclosed real estate | 724 | 1,878 |
Other assets | 1,069 | 1,259 |
Total assets | 146,502 | 147,440 |
Liabilities: | ' | ' |
Noninterest-bearing deposit accounts | 23,435 | 23,185 |
Money-market deposit accounts | 33,000 | 31,910 |
Savings accounts | 37,054 | 35,204 |
Time deposits | 28,571 | 31,363 |
Total deposits | 122,060 | 121,662 |
Official checks | 364 | 442 |
Advances by borrowers for taxes and insurance | 1 | 29 |
Other liabilities | 363 | 372 |
Total liabilities | 122,788 | 122,505 |
Stockholders' equity: | ' | ' |
Common stock | 11 | 12 |
Additional paid in capital | 9,789 | 11,481 |
Retained earnings | 14,670 | 14,285 |
Unearned Employee Stock Ownership Plan shares | -756 | -843 |
Total stockholders' equity | 23,714 | 24,935 |
Total liabilities and stockholders' equity | $146,502 | $147,440 |
SUNSHINE_FINANCIAL_INC_AND_SUB1
SUNSHINE FINANCIAL, INC. AND SUBSIDIARIES - Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statements of Financial Condition | ' | ' |
Securities held to maturity fair value | $25,956 | $15,658 |
Loans, allowance for loan losses | 1,294 | 1,533 |
Preferred stock par value | $0.01 | $0.01 |
Preferred stock authorized | 1,000,000 | 1,000,000 |
Preferred stock issued | 0 | 0 |
Preferred stock outstanding | $0 | $0 |
Common stock par value | $0.01 | $0.01 |
Common stock shares authorized | 6,000,000 | 6,000,000 |
Common stock shares issued | 1,131,954 | 1,234,454 |
Common stock shares outstanding | 1,131,954 | 1,234,454 |
SUNSHINE_FINANCIAL_INC_AND_SUB2
SUNSHINE FINANCIAL, INC. AND SUBSIDIARIES -- Consolidated Statements of Operations (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income | ' | ' |
Loans | $5,318 | $5,614 |
Securities | 364 | 263 |
Other interest income | 60 | 63 |
Total interest income | 5,742 | 5,940 |
Interest expense | ' | ' |
Deposit accounts | 406 | 553 |
Net interest income | 5,336 | 5,387 |
Provision for loan losses | 77 | 1,409 |
Net interest income after provision for loan losses | 5,259 | 3,978 |
Noninterest income | ' | ' |
Fees and service charges on deposit accounts | 1,828 | 2,126 |
Gain on loan sales | 439 | 350 |
Gain on sale of foreclosed real estate | 313 | 92 |
Fees and charges on loans | 106 | 112 |
Other noninterest income | 161 | 39 |
Total noninterest income | 2,847 | 2,719 |
Noninterest expenses | ' | ' |
Salaries and employee benefits | 3,526 | 3,517 |
Occupancy and equipment | 1,192 | 1,098 |
Data processing services | 793 | 901 |
Professional fees | 691 | 652 |
Deposit insurance | 120 | 120 |
Advertising and promotion | 68 | 85 |
Stationery and supplies | 81 | 69 |
Telephone and postage | 242 | 264 |
Foreclosed real estate expense | 210 | 434 |
Credit card expense | 129 | 131 |
Other noninterest expense | 488 | 302 |
Total noninterest expenses | 7,540 | 7,573 |
Earnings (loss) before income taxes (benefit) | 566 | -876 |
Income taxes (benefit) | 181 | -348 |
Net income (loss) | $385 | ($528) |
Basic earnings (loss) per common share | $0.34 | ($0.46) |
Diluted earnings (loss) per common share | $0.33 | ($0.46) |
SUNSHINE_FINANCIAL_INC_AND_SUB3
SUNSHINE FINANCIAL, INC. AND SUBSIDIARIES - Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock Shares | Common Stock Amount | Additional Paid in Capital | Retained Earnings | Unearned ESOP Shares | Total Stockholders' Equity |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Balance at beginning of period at Dec. 31, 2011 | ' | ' | $12 | $11,487 | $14,813 | ' | $25,385 |
Balance at beginning of period shares at Dec. 31, 2011 | ' | 1,234,454 | ' | ' | ' | -927 | ' |
Net income (loss) | -528 | ' | ' | ' | -528 | ' | -528 |
Stock based compensation expense | ' | ' | ' | 2 | ' | ' | 2 |
Common stock allocated to ESOP participants | ' | ' | ' | -8 | ' | 84 | 76 |
Balance at end of period at Dec. 31, 2012 | ' | ' | 12 | 11,481 | 14,285 | -843 | 24,935 |
Balance at end of period shares at Dec. 31, 2012 | ' | 1,234,454 | ' | ' | ' | -843 | ' |
Balance at beginning of period at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 385 | ' | ' | ' | 385 | ' | 385 |
Repurchase of common stock shares | ' | -102,500 | ' | ' | ' | ' | ' |
Repurchase of common stock | -1,764 | ' | -1 | -1,763 | ' | ' | -1,764 |
Stock based compensation expense | ' | ' | ' | 111 | ' | ' | 111 |
Common stock allocated to ESOP participants | ' | ' | ' | -40 | ' | 87 | 47 |
Balance at end of period at Dec. 31, 2013 | ' | ' | $11 | $9,789 | $14,670 | ' | $23,714 |
Balance at end of period shares at Dec. 31, 2013 | ' | 1,131,954 | ' | ' | ' | -756 | ' |
SUNSHINE_FINANCIAL_INC_AND_SUB4
SUNSHINE FINANCIAL, INC. AND SUBSIDIARIES -- Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | ' | ' |
Net earnings (loss) | $385 | ($528) |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | ' | ' |
Depreciation | 547 | 503 |
Provision for loan losses | 77 | 1,409 |
Deferred income taxes (benefit) | 156 | -348 |
Net amortization of premiums/discounts on securities | 64 | 75 |
Net amortization of deferred loan fees and costs | 11 | 13 |
Loans originated for sale | -8,761 | -14,993 |
Proceeds from loans sold | 9,524 | 15,002 |
Gain on sale of loans | -439 | -350 |
ESOP compensation expense | 47 | 76 |
Share-based compensation expense | 111 | 2 |
Decrease in accrued interest receivable | 56 | 87 |
Decrease in other assets | 432 | 178 |
Increase (decrease) on sale of foreclosed real estate | -313 | -92 |
Write-down of foreclosed real estate | 29 | 132 |
Amortization of loan servicing rights | 36 | ' |
Decrease in official checks | -78 | -130 |
Net (decrease) increase in advances by borrowers for taxes and insurance | -28 | 8 |
(Decrease) increase in other liabilities | -9 | 6 |
Net cash provided by operating activities | 1,847 | 1,050 |
Cash flows from investing activities: | ' | ' |
Purchases of securities held-to-maturity | -14,577 | -8,272 |
Principal pay-downs on held-to-maturity securities | 3,330 | 2,591 |
Net (increase) decrease in loans | -1,846 | 3,314 |
Net purchases of premises and equipment | -2,333 | -201 |
Redemption of Federal Home Loan Bank stock | 41 | 29 |
Proceeds from sale of foreclosed real estate | 2,452 | 1,114 |
Capital expenditures for foreclosed real estate | -2 | -17 |
Net cash used in investing activities | -12,395 | -1,442 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 398 | 2,246 |
Repurchase of common stock | -1,764 | ' |
Net cash (used in) provided by financing activities | -1,366 | 2,246 |
(Decrease) increase in cash and cash equivalents | -12,454 | 1,854 |
Cash and cash equivalents at beginning of year | 26,909 | 25,055 |
Cash and cash equivalents at end of year | 14,455 | 26,909 |
Cash paid during the year for: | ' | ' |
Income taxes | 25 | ' |
Interest | 406 | 553 |
Noncash transactions: | ' | ' |
Transfer from loans to foreclosed real estate | 1,012 | 2,296 |
Transfer of foreclosed real estate to loans | ' | 24 |
Loan servicing rights capitalized | $278 | ' |
1_Organization_and_Significant
(1) Organization and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
(1) Organization and Significant Accounting Policies | ' |
(1)Â Organization and Significant Accounting Policies | |
Organization. Sunshine Financial, Inc. ("Sunshine Financial" or the "Holding Company"), a Maryland corporation, is the holding company for Sunshine Savings Bank (the "Bank") and owns all the outstanding common stock of the Bank. | |
      The Holding Company's only business is the operation of the Bank. The Bank through its four banking offices provides a variety of retail community banking services to individuals and businesses primarily in Leon County, Florida. The Bank's deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation. The Bank's subsidiary is Sunshine Member Insurance Services, Inc. ("SMSI"), which was established to sell automobile warranty and credit life and disability insurance products associated with loan products. Collectively the entities are referred to as the "Company." | |
      The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America ("GAAP") and to prevailing practices within the banking industry. The following summarizes the more significant of these policies and practices. | |
Principles of Consolidation. The consolidated financial statements include the accounts of Sunshine Financial, Inc. and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates. In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of foreclosed real estate and deferred tax assets. | |
Cash and Cash Equivalents. For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash and balances due from banks and interest-bearing deposits with banks, all of which mature within ninety days. | |
     Banks are required to maintain cash reserves in the form of vault cash, in a noninterest-earning account with the Federal Reserve Bank or in noninterest-earning accounts with other qualified banks. This requirement is based on the amount of the Bank's transaction deposit accounts. | |
Securities. Securities may be classified as either trading, held-to-maturity or available-for-sale. Trading securities are held principally for resale and recorded at their fair values. Unrealized gains and losses on trading securities are included immediately in operations. Held-to-maturity securities are those which the Company has the positive intent and ability to hold to maturity and are reported at amortized cost. Available-for-sale securities consist of securities not classified as trading securities nor as held to maturity securities. Unrealized holding gains and losses on available-for-sale securities are excluded from operations and reported in comprehensive income. Gains and losses on the sale of available for sale securities are recorded on the trade date and are determined using the specific identification method. Premiums and discounts on securities available for sale are recognized in interest income using the interest method over the period to maturity. | |
      Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | |
Loans Held for Sale. The Bank originates loans for sale in the secondary market. These loans are carried at the lower of cost or estimated fair value in the aggregate. At December 31, 2013 and 2012, there were $75,000 and $677,000, respectively, of loans held for sale. Loans held for sale are included in loans on consolidated balance sheets. | |
Loans. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay off are reported at their outstanding principal adjusted for any charge offs, the allowance for loan losses, and any deferred fees or costs on originated loans. | |
      Loan origination fees are deferred and certain direct origination costs are capitalized. The net amount is recognized as an adjustment of the yield over the contractual life of the related loan. | |
      The accrual of interest on loans is discontinued at the time the loan is more than ninety-days delinquent unless the loan is well collateralized and in process of collection. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered unlikely. | |
      All interest accrued but not collected for loans placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and remain current for a period of six months. | |
Allowance for Loan Losses. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to operations. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. There were no changes in the Bank's accounting policies or methodology during the years ended December 31, 2013 or 2012. | |
      The allowance for loan losses is evaluated on a regular basis by management and is based upon management's periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower's ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |
      The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired. For such loans, an allowance is established when the discounted cash flows, collateral value or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers all other loans and is based on historical industry loss experience adjusted for qualitative factors. | |
      The historical loss component of the allowance is determined by losses recognized by portfolio segment over the preceding two years. This is supplemented by the risks for each portfolio segment. Risk factors impacting loans in each of the portfolio segments include changes in lending policies and procedures, economic conditions, volume and nature of loans, lending management experience, volume of troubled loans, quality of loan review system, value of collateral-dependent loans, credit concentrations and competition and regulatory change. The historical experience is adjusted for qualitative factors such as economic conditions and other trends or uncertainties that could affect management's estimate of probable losses. | |
      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. 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 residential mortgage loans by either the present value of expected future cash flows discounted at the loan's effective interest rate, the loan's obtainable market price, or the fair value of the collateral if the loan is collateral-dependent. | |
Income Taxes. There are two components of income taxes: current and deferred. Current income taxes reflect taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. | |
      Deferred income taxes result from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management's judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. As of December 31, 2013, management is not aware of any uncertain tax positions that would have a material effect on the Company's consolidated financial statements. | |
      The Company files consolidated income tax returns. Income taxes are allocated to the Holding Company and the Bank as if separate income tax returns were filed. Interest and penalties on income taxes are recognized as a component of income taxes. | |
Loan Servicing. Servicing assets are recognized as separate assets when rights are acquired through purchase or through sale of financial assets. Capitalized servicing rights are amortized in proportion to, and over the period of, the estimated future net servicing income of the underlying financial assets. Servicing assets are evaluated for impairment based upon the fair value of the rights compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Impairment is recognized through a valuation allowance for an individual stratum, to the extent that fair value is less than the capitalized amount for the stratum. At December 31, 2013, the amount of loan servicing assets was immaterial. There was no loan servicing asset at December 31, 2012. | |
Premises and Equipment. Land is stated at cost. Buildings and improvements and furniture and equipment are stated at cost, less accumulated depreciation. Depreciation expense is computed using the straight line method over the estimated useful lives of the assets. Estimated useful lives for buildings and improvements range from ten to forty years; for furniture and fixtures from five to seven years. | |
Foreclosed Real Estate. Real estate acquired through, or in lieu of, loan foreclosure is held for sale and are initially recorded at fair value less costs to sell at the date of foreclosure, establishing a new cost basis. After foreclosure, valuations are periodically performed by management and the real estate is carried at the lower of the new cost basis or fair value less costs to sell. Revenue and expenses from operations are included in the consolidated statements of operations. | |
Off Balance Sheet Financial Instruments. In the ordinary course of business the Company has entered into off balance sheet financial instruments consist of unused lines of credit. Such financial instruments are recorded in the consolidated financial statements when they are funded. | |
Transfer of Financial Assets. Transfers of financial assets or a participating interest in an entire financial asset are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. A participating interest is a portion of an entire financial asset that (1) conveys proportionate ownership rights with equal priority to each participating interest holder (2) involves no recourse (other than standard representations and warranties) to, or subordination by, any participating interest holder, and (3) does not entitle any participating interest holder to receive cash before any other participating interest holder. | |
Fair Value Measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The hierarchy describes three levels of inputs that may be used to measure fair value: | |
       Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |
       Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. | |
       Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. | |
      The following describes valuation methodologies used for assets measured at fair value: | |
      Impaired Loans. The Company's impaired loans are normally collateral dependent and, as such, are carried at the lower of the Company's net recorded investment in the loan or the estimated fair value of the collateral less estimated selling costs. Estimates of fair value are determined based on a variety of information, including the use of available appraisals, estimates of market value by licensed appraisers or local real estate brokers and the knowledge and experience of the Company's management related to values of properties in the Company's market areas. These officers take into consideration the type, location and occupancy of the property as well as current economic conditions in the area the property is located in assessing estimates of fair value. Accordingly, fair value estimates for impaired loans is classified as Level 3. | |
      Foreclosed Real Estate. The Company's foreclosed real estate is recorded at fair value less estimated selling costs. Estimates of fair values are determined based on a variety of information, including the use of available appraisals, estimates of market value by licensed appraisers or local real estate brokers and the knowledge and experience of the Company's management related to values of properties in the Company's market areas. These officers taken into consideration the type, location and occupancy of the property as well as current economic conditions in the area the property is located in assessing estimates of fair value. Accordingly, the fair values estimates for foreclosed real estate are classified as Level 3. | |
Fair Values of Financial Instruments. The following methods and assumptions were used by the Company in estimating fair values of financial instruments: | |
       Cash and Cash Equivalents. The carrying amounts of cash and cash equivalents approximate their fair value. | |
              Securities Held to Maturity. Fair values for securities are based on the framework for measuring fair value. | |
      Loans. For variable-rate loans that reprice frequently and have no significant change in credit risk, fair values are based on carrying values. Fair values for fixed-rate mortgage and consumer loans are estimated using discounted cash flow analyses, using a third party, Risk Analytics pricing model. Fair values for impaired loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |
              Federal Home Loan Bank Stock. Fair value of the Company's investment in Federal Home Loan Bank stock is its redemption value of $100 per share. | |
              Accrued Interest Receivable. The carrying amounts of accrued interest approximate their fair values. | |
              Deposit Liabilities. The fair values disclosed for demand, NOW, money-market and savings deposits are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). Fair values for fixed-rate time deposits are estimated using the Risk Analytics pricing model. | |
              Off-Balance-Sheet Financial Instruments. Fair values for off-balance-sheet lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. The fair value of these fees is not material. | |
Recent Pronouncements. Â In July 2012, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment, which, among other things, gives an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. The adoption of this guidance had no effect on the Company's consolidated financial statements. | |
       In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which limits the scope of the new balance sheet offsetting disclosures in ASU 2011-11 to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. The adoption of this guidance had no effect on the Company's consolidated financial statements. | |
       In February 2013, the FASB Issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires entities to present information about reclassification adjustments from accumulated other comprehensive income in their annual financial statements in a single note or on the face of the financial statements. The adoption of this guidance had no effect on the Company's consolidated financial statements. | |
       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. ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for obligations within the scope of this ASU, which is effective January 1, 2014. Upon adoption, this guidance did not impact the Company's consolidated financial statements. | |
       In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which among other things, require an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as denoted within the ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Upon adoption, this guidance did not impact the Company's consolidated financial statements. | |
Recent Regulatory Developments | |
Basel III Rules. On July 2, 2013, the Federal Reserve Board ("FRB") approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks. Under the final rules, minimum requirements will increase for both the quantity and quality of capital held by the Bank. The rules include a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The final rules also raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0% and require a minimum leverage ratio of 4.0%. The final rules also implement strict eligibility criteria for regulatory capital instruments. On July 9, 2013, the FDIC also approved, as an interim final rule, the regulatory capital requirements for U.S. banks, following the actions of the FRB. The FDIC's rule is identical in substance to the final rules issued by the FRB. | |
       The phase-in period for the final rules will begin for the Bank on January 1, 2015, with full compliance with all of the final rule's requirements phased in over a multi-year schedule. The Bank is currently evaluating the provisions of the final rules and their expected impact on the Bank. | |
Reclassifications. Certain amounts in the 2012 consolidated financial statements have been reclassified to conform with the 2013 presentation. | |
2_Earnings_loss_Per_Share
(2) Earnings (loss) Per Share | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Notes | ' | ||||||
(2) Earnings (loss) Per Share | ' | ||||||
(2)Â Earnings (Loss) Per Share | |||||||
Earnings (loss) per share ("EPS") has been computed on the basis of the weighted-average number of shares of common stock outstanding for 2013. Outstanding stock options are considered dilutive securities for purposes of calculating diluted EPS which was computed using the treasury stock method. For 2012, outstanding stock options were not considered dilutive securities due to the net loss incurred by the Company. The shares purchased by the ESOP are included in the weighted-average shares when they are committed to be released (dollars in thousands, except per share amounts): | |||||||
2013 | 2012 | ||||||
Weighted- | Per | Weighted- | Per | ||||
Average | Share | Average | Share | ||||
Earnings | Shares | Amount | Loss | Shares | Amount | ||
Year Ended December 31: | |||||||
 Basic EPS: | |||||||
   Net earnings (loss) | $385 | 1,147,610 | $0.34 | ($528) | 1,148,355 | ($0.46) | |
 Effect of dilutive securities- | |||||||
   Incremental shares from assumed conversion | |||||||
     of options (antidilutive in 2012) | 17,700 | - | |||||
 Diluted EPS: | |||||||
   Net earnings (loss) | $385 | 1,165,311 | $0.33 | ($528) | 1,148,355 | ($0.46) | |
3_Securities_Held_To_Maturity
(3) Securities Held To Maturity | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Notes | ' | ||||
(3) Securities Held To Maturity | ' | ||||
(3)Â Securities Held to Maturity | |||||
Management has classified all securities as held to maturity. The carrying amount of securities and their fair values at the dates indicated are as follows (in thousands): | |||||
Gross | Gross | ||||
Amortized | Unrealized | Unrealized | Fair | ||
Cost | Gains | Losses | Value | ||
At December 31, 2013: | |||||
Mortgage-backed securities | $2,167 | 88 | - | 2,255 | |
Collateralized mortgage obligations | 24,457 | 34 | -790 | 23,701 | |
$26,624 | 122 | -790 | 25,956 | ||
At December 31, 2012: | |||||
Mortgage-backed securities | 3,137 | 166 | - | 3,303 | |
Collateralized mortgage obligations | 12,304 | 73 | -22 | 12,355 | |
$15,441 | 239 | -22 | 15,658 | ||
There were no sales of securities during 2013 or 2012. There were no securities pledged as of December 31, 2013 and 2012. | |||||
Securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position at the date indicated, are as follows (in thousands): | |||||
Less than Twelve Months | Twelve Months or Longer | ||||
Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | ||
At December 31, 2013: | |||||
 Collateralized mortgage obligations | ($481) | 17,985 | -309 | 4,315 | |
     The unrealized losses on twenty-six securities are considered by management to be attributable to changes in market interest rates, and not attributable to credit risk on the part of the issuer. Accordingly, if market rates were to decline, much or all of the decline in market value would likely be recovered through market appreciation. As management has the ability and intent to hold debt securities until maturity, or for the foreseeable future, no declines in the fair value below amortized cost are deemed to be other than temporary. | |||||
4_Loans
(4) Loans | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Notes | ' | ||||||||||||
(4) Loans | ' | ||||||||||||
(4)Â Loans | |||||||||||||
The loan portfolio segments and classes at the dates indicated are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Real estate mortgage loans: | |||||||||||||
 One-to-four-family | $50,629 | $59,987 | |||||||||||
 Lot loans | 5,293 | 6,289 | |||||||||||
 Commercial real estate | 18,189 | 7,847 | |||||||||||
 Construction |     381 |  1,006 | |||||||||||
   Total real estate loans | 74,492 | 75,129 | |||||||||||
Commercial | Â Â Â Â 296 | Â Â Â Â Â Â 24 | |||||||||||
Consumer loans: | |||||||||||||
 Home equity | 8,817 | 10,407 | |||||||||||
 Automobile | 4,000 | 3,043 | |||||||||||
 Credit cards and unsecured | 7,100 | 7,521 | |||||||||||
 Deposit account | 622 | 578 | |||||||||||
 Other |   1,202 |   1,428 | |||||||||||
   Total consumer loans | 21,741 | 22,977 | |||||||||||
   Total loans | 96,529 | 98,130 | |||||||||||
Less: | |||||||||||||
 Loans in process | 318 | -1,199 | |||||||||||
 Deferred fees and discounts | -74 | -63 | |||||||||||
 Allowance for losses |  (1,294) |  (1,533) | |||||||||||
   Total loans, net | $95,479 | $95,335 | |||||||||||
The Company has divided the loan portfolio into three portfolio segments and ten classes, each with different risk characteristics and methodologies for assessing risk. The portfolio segments identified by the Company are as follows: | |||||||||||||
Real Estate Mortgage Loans. Real estate mortgage loans are loans comprised of four classes: One- to four-family, Lot loans, Commercial real estate and Construction loans. The Company generally originates one- to four-family mortgage loans in amounts up to 80% of the lesser of the appraised value or purchase price of a mortgaged property, but will also permit loan-to-value ratios of up to 95%. For one- to four-family loans exceeding an 80% loan-to-value ratio, the Company generally requires the borrower to obtain private mortgage insurance covering any loss on the amount of the loan in excess of 80% in the event of foreclosure. Commercial real estate loans are generally originated at 75% or less loan-to-value ratio and have amortization terms of up to 20 years and maturities of  up to ten years. Construction loans to borrowers are to finance the construction of one- to four-family, owner occupied properties. These loans are categorized as construction loans during the construction period, later converting to residential real estate loans after the construction is complete and amortization of the loan begins. Real estate construction loan funds are disbursed periodically based on the percentage of construction completed. If the estimate of construction cost proves to be inaccurate, the Company may be compelled to advance additional funds to complete the construction with repayment dependent, in part, on the success of the ultimate project rather than the ability of a borrower to repay the loan. The Company carefully monitors these loans with on-site inspections and requires the receipt of lien waivers on funds advanced. Construction loans are typically secured by the properties under construction. The Company also makes loans for the purchase of developed lots for future construction of the borrower's primary residence. Construction and lot loan lending is generally considered to involve a higher degree of credit risk than long-term permanent financing of residential properties. | |||||||||||||
         Commercial.  Commercial loans are primarily underwritten on the basis of the borrowers' ability to service such debt from income. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. As a general practice, the Company takes as collateral a security interest in any available real estate, equipment, or other chattel, although loans may also be made on an unsecured basis. Collateralized working capital loans typically are secured by short-term assets whereas long-term loans are primarily secured by long-term assets. | |||||||||||||
Consumer Loans. Consumer loans are comprised of five classes: Home Equity, Automobile, Credit cards and unsecured, Deposit account and Other. The Company offers a variety of secured consumer loans, including home equity, new and used automobile, boat and other recreational vehicle loans, and loans secured by savings deposits. The Company also offers unsecured consumer loans including a credit card product. The Company originates its consumer loans primarily in its market area. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Loans to consumers are extended after a credit evaluation, including the creditworthiness of the borrower(s), the purpose of the credit, and the secondary source of repayment. Consumer loans are made at fixed and variable interest rates and may be made on terms of up to twenty years. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. | |||||||||||||
The activity in the allowance for loan losses for the periods shown was as follows (in thousands): | |||||||||||||
Real Estate Loans | Consumer Loans | ||||||||||||
One-to Four- Family | Lot Loans | Commercial Real Estate | Constru- ction | Comm- ercial Loans | Home Equity | Auto- mobile | Credit Cards and Unsecured | Deposit Account | Other | Un- allocated | Total | ||
Year Ended December 31, 2013: | |||||||||||||
Beginning balance | $690 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,533 | |
Provision (credit) for loan loss | 144 | 37 | 85 | 1 | 5 | -248 | - | 41 | - | -6 | 18 | 77 | |
Charge-offs | -243 | -32 | - | - | - | -144 | -1 | -136 | - | -24 | - | -580 | |
Recoveries | 14 | - | - | - | - | 195 | 4 | 51 | - | - | - | 264 | |
Ending balance | $605 | 93 | 163 | 1 | 5 | 146 | 12 | 187 | - | 64 | 18 | 1,294 | |
Individually evaluated for impairment: | |||||||||||||
 Recorded investment | $2,935 | - | - | - | - | 281 | - | 47 | - | - | - | 3,263 | |
 Balance in allowance for loan losses | $68 | - | - | - | - | 3 | - | 3 | - | - | - | 74 | |
Collectively evaluated for impairment: | |||||||||||||
 Recorded investment | $47,694 | 5,293 | 18,189 | 381 | 296 | 8,536 | 4,000 | 7,053 | 622 | 1,202 | - | 93,266 | |
 Balance in allowance for loan losses | $537 | 93 | 163 | 1 | 5 | 143 | 12 | 184 | - | 64 | 18 | 1,220 | |
Year Ended December 31, 2012: | |||||||||||||
Beginning balance | 475 | 144 | - | - | - | 235 | 39 | 337 | - | 99 | - | 1,329 | |
Provision (credit) for loan loss | 666 | 67 | 78 | - | - | 388 | -24 | 125 | - | 109 | - | 1,409 | |
Charge-offs | -611 | -128 | - | - | - | -303 | -18 | -283 | - | -115 | - | -1,458 | |
Recoveries | 160 | 5 | - | - | - | 23 | 12 | 52 | - | 1 | - | 253 | |
Ending balance | $690 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,533 | |
Individually evaluated for impairment: | |||||||||||||
 Recorded investment | $3,156 | 135 | - | - | - | 318 | - | 38 | - | - | - | 3,647 | |
 Balance in allowance for loan losses | $30 | - | - | - | - | - | - | - | - | - | - | 30 | |
Collectively evaluated for impairment: | |||||||||||||
 Recorded investment | $56,831 | 6,154 | 7,847 | 1,006 | 24 | 10,089 | 3,043 | 7,483 | 578 | 1,428 | - | 94,483 | |
 Balance in allowance for loan losses | $660 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,503 | |
The following summarizes the loan credit quality at the dates indicated (in thousands): | |||||||||||||
Credit Risk | |||||||||||||
Profile by Internally | One to Four | Lot | Commercial Real | Constru- | Comme- | Home | Auto- | Credit Cards and | Deposit | ||||
Assigned Grade: | Family | Loans | Estate | ction | rcial | Equity | mobile | Unsecured | Account | Other | Total | ||
At December 31, 2013: | |||||||||||||
 Grade: | |||||||||||||
   Pass | $46,775 | 5,293 | 18,189 | 381 | 296 | 8,464 | 3,958 | 7,029 | 622 | 1,008 | 92,015 | ||
   Special mention | 483 | - | - | - | - | 75 | 4 | 13 | - | 28 | 603 | ||
   Substandard | 3,371 | - | - | - | - | 278 | 38 | 58 | - | 166 | 3,911 | ||
 Total | $50,629 | 5,293 | 18,189 | 381 | 296 | 8,817 | 4 | 7,100 | 622 | 1,202 | 96,529 | ||
At December 31, 2012: | |||||||||||||
 Grade: | |||||||||||||
   Pass | 55,104 | 6,202 | 7,847 | 1,006 | 24 | 9,935 | 3,010 | 7,473 | 578 | 1,428 | 92,607 | ||
   Special mention | 923 | - | - | - | - | 26 | 14 | 4 | - | - | 967 | ||
   Substandard | 3,960 | 87 | - | - | - | 446 | 19 | 44 | - | - | 4,556 | ||
 Total | $59,987 | 6,289 | 7,847 | 1,006 | 24 | 10,407 | 3,043 | 7,521 | 578 | 1,428 | 98,130 | ||
Internally assigned loan grades are defined as follows: | |||||||||||||
      Pass – A Pass loan's primary source of loan repayment is satisfactory, with secondary sources very likely to be realized if necessary. | |||||||||||||
      Special Mention – A Special Mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or the Company's credit position at some future date. Special Mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. | |||||||||||||
      Substandard – A Substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||
      Doubtful – A loan classified Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||
      Loss – A loan classified Loss is considered uncollectible and of such little value that continuance as a bankable asset is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. | |||||||||||||
Age analysis of past-due loans at the dates indicated is as follows (in thousands): | |||||||||||||
Accruing Loans | |||||||||||||
90 Days | |||||||||||||
30-59 | 60-89 | and | Total | ||||||||||
Days | Days | Greater | Past | Nonaccrual | Total | ||||||||
Past Due | Past Due | Past Due | Due | Current | Loans | Loans | |||||||
At December 31, Â 2013: | |||||||||||||
   Real estate loans: | |||||||||||||
       One-to-four family | $912 | 494 | - | 1,406 | 48,226 | 997 | 50,629 | ||||||
       Lot loans | - | 35 | - | 35 | 5,238 | 20 | 5,293 | ||||||
       Commercial | - | - | - | - | 18,189 | - | 18,189 | ||||||
       Construction | - | - | - | - | 381 | - | 381 | ||||||
   Commercial loans | - | - | - | - | 296 | - | 296 | ||||||
   Consumer loans: | |||||||||||||
       Home equity | 123 | 72 | - | 195 | 8,553 | 69 | 8,817 | ||||||
       Automobile | 2 | 4 | - | 6 | 3,956 | 38 | 4,000 | ||||||
       Credit cards and unsecured | 63 | 13 | - | 76 | 7,011 | 13 | 7,100 | ||||||
       Deposit account | - | - | - | - | 622 | - | 622 | ||||||
       Other | 130 | 29 | - | 159 | 877 | 166 | 1,202 | ||||||
   Total | $1,230 | 647 | - | 1,877 | 93,349 | 1,303 | 96,529 | ||||||
At December 31, 2012: | |||||||||||||
   Real estate loans: | |||||||||||||
       One-to-four family | 1,310 | 611 | - | 1,921 | 56,033 | 2,033 | 59,987 | ||||||
       Lot loans | 96 | - | - | 96 | 6,106 | 87 | 6,289 | ||||||
       Commercial | - | - | - | - | 7,847 | - | 7,847 | ||||||
      Construction | - | - | - | - | 1,006 | - | 1,006 | ||||||
   Commercial loans | - | - | - | - | 24 | - | 24 | ||||||
   Consumer loans: | |||||||||||||
       Home equity | 527 | 110 | - | 637 | 9,612 | 158 | 10,407 | ||||||
       Automobile | - | 14 | - | 14 | 3,010 | 19 | 3,043 | ||||||
       Credit cards and unsecured | 146 | - | - | 146 | 7,365 | 10 | 7,521 | ||||||
       Deposit account | - | - | - | - | 578 | - | 578 | ||||||
       Other | 100 | - | - | 100 | 1,328 | - | 1,428 | ||||||
   Total | $2,179 | 735 | - | 2,914 | 92,909 | 2,307 | 98,130 | ||||||
The following summarizes the amount of impaired loans at the dates indicated (in thousands): | |||||||||||||
With No Related Allowance Recorded | With an Allowance Recorded | Total | |||||||||||
Recorded Investment | Unpaid Principal Balance | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||||
At December 31, 2013: | |||||||||||||
 Real estate loans: | |||||||||||||
   One-to-four family | $1,468 | 1,578 | 1,467 | 1,467 | 68 | 2,935 | 3,045 | 68 | |||||
   Lot loans | - | - | - | - | - | - | - | - | |||||
 Consumer loans: | |||||||||||||
   Home equity | 236 | 265 | 45 | 45 | 3 | 281 | 310 | 3 | |||||
  Credit card and unsecured | 31 | 37 | 16 | 16 | 3 | 47 | 53 | 3 | |||||
$1,735 | 1,880 | 1,528 | 1,528 | 74 | 3,263 | 3,408 | 74 | ||||||
At December 31, 2012: | |||||||||||||
 Real estate loans: | |||||||||||||
   One-to-four family | 2,625 | 2,902 | 531 | 531 | 30 | 3,156 | 3,433 | 30 | |||||
   Lot loans | 135 | 356 | - | - | - | 135 | 356 | - | |||||
 Consumer loans: | |||||||||||||
   Home equity | 318 | 476 | - | - | - | 318 | 476 | - | |||||
  Credit card and unsecured | 38 | 44 | - | - | - | 38 | 44 | - | |||||
$3,116 | 3,778 | 531 | 531 | 30 | 3,647 | 4,309 | 30 | ||||||
As of December 31, 2013 and 2012, the Company's loan portfolio included primarily large groups of smaller balance homogeneous loans. The Company considers individual single family home loans which are in the process of foreclosure for impairment as well as all troubled debt restructurings ("TDR") (which involve loans in which the Company forgave a portion of interest or principal or reduced the interest rate materially less than that of market rates). | |||||||||||||
The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): | |||||||||||||
Average | Interest | Interest | |||||||||||
Recorded | Income | Income | |||||||||||
Investment | Recognized | Received | |||||||||||
For the Year Ended December 31, 2013: | |||||||||||||
 Real estate loans: | |||||||||||||
   One-to-four family | $3,076 | 92 | 95 | ||||||||||
   Lot loans | 18 | - | - | ||||||||||
 Consumer loans: | |||||||||||||
   Home equity | 268 | 6 | 6 | ||||||||||
   Credit card and unsecured | 36 | 1 | 1 | ||||||||||
   Total | $3,398 | 99 | 102 | ||||||||||
For the Year Ended December 31, 2012: | |||||||||||||
 Real estate loans: | |||||||||||||
   One-to-four family | 3,604 | 92 | 98 | ||||||||||
   Lot loans | 73 | 2 | 31 | ||||||||||
 Consumer loans: | |||||||||||||
   Home equity | 402 | 8 | 9 | ||||||||||
   Credit card and unsecured | 31 | - | - | ||||||||||
   Total | $4,110 | 102 | 138 | ||||||||||
     Troubled debt restructurings entered into are as follows (dollars in thousands): | |||||||||||||
Outstanding Recorded Investment | |||||||||||||
Number | |||||||||||||
of | Pre- | Post- | |||||||||||
Contracts | Modification | Modification | |||||||||||
Year Ended December 31, 2013: | |||||||||||||
 Real estate mortgage loans- | |||||||||||||
   One-to-four family- | |||||||||||||
     Modified interest rates | 3 | $952 | 952 | ||||||||||
 Consumer loans- | |||||||||||||
   Home equity- | |||||||||||||
     Modified interest rates | 1 | 45 | 45 | ||||||||||
   Credit card and unsecured- | |||||||||||||
     Modified interest rates | 1 | 17 | 17 | ||||||||||
5 | $1,014 | 1,014 | |||||||||||
Year Ended December 31, 2012: | |||||||||||||
 Real estate mortgage loans- | |||||||||||||
   One-to-four family- | |||||||||||||
     Modified interest rates      | 4 | 721 | 721 | ||||||||||
 Consumer loans- | |||||||||||||
   Credit card and unsecured- | |||||||||||||
     Modified interest rates | 1 | 49 | 49 | ||||||||||
5 | $770 | 770 | |||||||||||
The allowance for loan losses on residential real estate and consumer loans that have been restructured and are considered TDR’s is included in the Company's specific reserve. The specific reserve is determined on a loan by loan basis 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. TDR's that have subsequently defaulted are considered collateral-dependent. The Company has not had any TDR’s which were restructured during the 2013 or 2012 that subsequently defaulted in the same year. | |||||||||||||
5_Premises_and_Equipment
(5) Premises and Equipment | 12 Months Ended | ||
Dec. 31, 2013 | |||
Notes | ' | ||
(5) Premises and Equipment | ' | ||
(5)Â Premises and Equipment | |||
Premises and equipment are summarized as follows (in thousands): | |||
At December 31, | |||
2013 | 2012 | ||
Land | $1,125 | 528 | |
Buildings and improvements | 5,574 | 4,341 | |
Furniture and equipment | 4,233 | 4,399 | |
   Total, at cost | 10,932 | 9,268 | |
Less accumulated depreciation | 5,825 | 5,947 | |
   Premises and equipment, net | $5,107 | 3,321 | |
Certain facilities are leased under operating leases. Rental expense was $196,000 and $192,000 for the years ended December 31, 2013 and 2012, respectively. The operating leases generally contain escalation clauses. The future minimum lease payments are as follows (in thousands): | |||
Year Ending | |||
December 31, | Amount | ||
2014 | $172 | ||
2015 | 154 | ||
2016 | 79 | ||
2017 | 27 | ||
$432 | |||
On September 26, 2013, the Company purchased the buildings, real estate, fixtures and equipment of two former bank branch offices in Tallahassee, Florida, from Centennial Bank for an aggregate purchase price of $2.1 million. One branch location was opened on January 15, 2014 and the Company anticipates opening the other branch in late 2014. | |||
6_Foreclosed_Real_Estate
(6) Foreclosed Real Estate | 12 Months Ended | ||
Dec. 31, 2013 | |||
Notes | ' | ||
(6) Foreclosed Real Estate | ' | ||
(6)Â Foreclosed Real Estate | |||
Expenses applicable to foreclosed real estate are as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Write-down of foreclosed real estate | $29 | 132 | |
Operating expenses | 181 | 302 | |
$210 | 434 | ||
7_Deposits
(7) Deposits | 12 Months Ended | ||
Dec. 31, 2013 | |||
Notes | ' | ||
(7) Deposits | ' | ||
(7)Â Deposits | |||
The aggregate amount of time deposits with a minimum denomination of $100,000 was approximately $8.1 million and $8.5 million at December 31, 2013 and 2012, respectively. Deposits in excess of $250,000 are not insured by FDIC. The scheduled maturities of time deposits are as follows (in thousands): | |||
Year Ending | |||
December 31, | Amount | ||
2014 | $21,520 | ||
2015 | 3,900 | ||
2016 | 1,101 | ||
2017 | 1,260 | ||
2018 | 790 | ||
$28,571 | |||
Interest expense details are as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Money-market deposit accounts | $139 | 146 | |
Savings accounts | 105 | 171 | |
Time deposits | 162 | 236 | |
$406 | 553 | ||
8_Line_of_Credit
(8) Line of Credit | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
(8) Line of Credit | ' |
(8)Â Line of Credit | |
The Company also has an unsecured federal funds line of credit for $4.5 million with a correspondent bank and a $14.5 million line with the Federal Home Loan Bank of Atlanta collateralized by a blanket lien on qualifying loans. At December 31, 2013 and 2012, the Company had no outstanding balances on these lines. | |
9_Offbalancesheet_Financial_In
(9) Off-balance-sheet Financial Instruments | 12 Months Ended | |
Dec. 31, 2013 | ||
Notes | ' | |
(9) Off-balance-sheet Financial Instruments | ' | |
(9)Â Off-Balance-Sheet Financial Instruments | ||
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are unused lines of credit and may involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the balance sheets. The contract amounts of these instruments reflect the extent of involvement the Company has in these financial instruments. | ||
The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for unused lines of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance-sheet instruments. | ||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed-expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company upon extension of credit is based on management's credit evaluation of the counterparty. | ||
Unused lines of credit typically result in loans with a market interest rate when funded. A summary of the amounts of the Company's financial instruments, with off-balance-sheet risk at the dates indicated follows (in thousands):Â | ||
At December 31, | ||
2013 | ||
Unused lines of credit (rates range from | ||
3.93% to 15.45%) | $15,274 | |
10_Fair_Value_of_Financial_Ins
(10) Fair Value of Financial Instruments | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Notes | ' | ||||
(10) Fair Value of Financial Instruments | ' | ||||
(10)Â Fair Value of Financial Instruments | |||||
The estimated fair values of the Company's financial instruments at the dates indicated are as follows (in thousands): | |||||
At December 31, 2013 | At December 31, 2012 | ||||
Carrying | Fair | Carrying | Fair | ||
Amount | Value | Amount | Value | ||
Financial assets: | |||||
 Cash and cash equivalents (Level 1) | $14,455 | 14,455 | 26,909 | 26,909 | |
 Securities held to maturity (Level 2) | 26,624 | 25,956 | 15,441 | 15,658 | |
 Loans (Level 3) | 95,479 | 95,617 | 95,335 | 95,228 | |
 Federal Home Loan Bank stock (Level 3) | 177 | 177 | 218 | 218 | |
 Accrued interest receivable (Level 3) | 311 | 311 | 367 | 367 | |
Financial liabilities: | |||||
 Deposits (Level 3) | 122,060 | 118,443 | 112,662 | 119,741 | |
Off-balance-sheet financial instruments (Level 3) | - | - | - | - | |
11_Income_Taxes
(11) Income Taxes | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Notes | ' | ||||
(11) Income Taxes | ' | ||||
(11)Â Income Taxes | |||||
The components of income taxes (benefit) for the years ended December 31, 2013 and 2012 are as follows (in thousands): | |||||
Year Ended December 31, | |||||
2013 | 2012 | ||||
Current: | |||||
 Federal | $25 | - | |||
 State | - | - | |||
   Total current | 25 | - | |||
Deferred: | |||||
 Federal | 130 | -297 | |||
 State | 26 | -51 | |||
   Total deferred | 156 | -348 | |||
   Income taxes (benefit) | $181 | -348 | |||
The reasons for the differences between the statutory Federal income tax rate and the effective tax rate at the dates indicated are as follows (dollars in thousands): | |||||
Year Ended December 31, | |||||
2013 | 2012 | ||||
% of | % of | ||||
Pretax | Pretax | ||||
Amount | Earnings | Amount | Loss | ||
Income taxes (benefit) at Federal | |||||
 statutory rate | $193 | 34.00% | ($297) | 34.00% | |
Increase in income tax benefit resulting from- | |||||
 State taxes, net of Federal tax | 17 | 3 | -51 | 5.7 | |
 Other | -29 | -5 | - | - | |
   Total | $181 | 32.00% | ($348) | 39.70% | |
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at the dates indicated are presented below (in thousands): | |||||
At December 31, | |||||
2013 | 2012 | ||||
Deferred tax assets: | |||||
 Allowance for loan losses | $487 | 567 | |||
 Net operating loss carryforwards | 1,556 | 1,654 | |||
 Other | 83 | 21 | |||
 Nonaccrual interest | 426 | 384 | |||
 Foreclosed property expenses | 15 | 137 | |||
 Premises and equipment | 38 | - | |||
 Stock option expense | 42 | - | |||
   Total deferred tax assets | 2,647 | 2,763 | |||
Deferred tax liabilities: | |||||
 Mortgage service rights | -91 | - | |||
 Premises and equipment | - | -51 | |||
   Total deferred tax liabilities | -91 | -51 | |||
   Net deferred tax asset | $2,556 | 2,712 | |||
At December 31, 2013, the Company has net operating loss carryforwards of approximately $4.1 million, available to offset future taxable income. The carryforward will begin to expire in 2028. | |||||
The Company files consolidated U.S. and Florida income tax returns. With few exceptions, the Company is no longer subject to U.S. federal or state and local income tax examinations by taxing authorities for years before 2010. | |||||
12_Contingencies
(12) Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
(12) Contingencies | ' |
(12)Â Contingencies | |
Various legal claims arise from time to time in the normal course of business which, in the opinion of management, will have no material effect on the Company's consolidated financial statements. | |
13_Related_Parties
(13) Related Parties | 12 Months Ended | ||
Dec. 31, 2013 | |||
Notes | ' | ||
(13) Related Parties | ' | ||
(13)Â Related Parties | |||
The Company makes loans to and accepts deposits from its executive officers and directors and their related entities. The activity for the periods shown is as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Loans at beginning of year | $149 | 152 | |
Additions | 9 | 18 | |
Repayments | -126 | -21 | |
Loans at end of year | $32 | 149 | |
Deposits at end of year | $123 | 584 | |
14_Employee_Benefit_Plans
(14) Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
(14) Employee Benefit Plans | ' |
(14)Â Employee Benefit Plans | |
The Company has a 401(k) plan for its employees who meet certain age and length-of-service requirements. For the tax year 2013, eligible employees could contribute up to $17,500 of their compensation to the plan on a pre-tax basis. This limit stays at $17,500 for the tax year ending December 31, 2014. Employer matching contributions were made at 100 percent of the employee contribution up to five percent. Employer contributions to the 401(k) plan were approximately $105,000 and $98,000 for 2013 and 2012, respectively. | |
15_Employee_Stock_Ownership_Pl
(15) Employee Stock Ownership Plan ('ESOP') | 12 Months Ended |
Dec. 31, 2013 | |
Notes | ' |
(15) Employee Stock Ownership Plan ('ESOP') | ' |
(15)Â Employee Stock Ownership Plan ("ESOP") | |
Effective April 5, 2011, the Holding Company established an ESOP which acquired 8% of the total number of shares of common stock sold during the initial public offering. A total of 98,756 shares were acquired in exchange for a $988,000 note payable to the Holding Company. The note bears interest at a fixed rate of 4.25% and is payable in annual installments and is due in 2021. The ESOP expense was $47,000 for the year ended December 31, 2013 and $76,000 for the year ended December 31, 2012. | |
16_2012_Equity_Incentive_Plan
(16) 2012 Equity Incentive Plan | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Notes | ' | ||||
(16) 2012 Equity Incentive Plan | ' | ||||
(16)Â 2012 Equity Incentive Plan | |||||
On May 23, 2012, the Company’s stockholders approved its 2012 Equity Incentive Plan. The Plan authorizes the grant of options for up to 123,445 shares of the Holding Company's common stock. The options granted have ten to fifteen year terms and vest from one to five years. A summary of the activity in the Company's stock options is as follows: | |||||
Weighted- | |||||
Weighted- | Average | ||||
Average | Remaining | Aggregate | |||
Number of | Exercise | Contractual | Intrinsic | ||
Options | Price | Term | Value | ||
Outstanding at December 31, 2011 | - | $- | |||
Granted | 91,000 | 10.75 | |||
Forfeited | -1,000 | 10.75 | |||
Outstanding at December 31, 2012 | 90,000 | 10.75 | |||
Granted | 7,000 | 16.75 | |||
Forfeited | -9,500 | 10.75 | |||
Outstanding at December 31, 2013 | 87,500 | $11.23 | 13.38 | ||
Exercisable at December 31, 2013 | 10,000 | $10.75 | 8.95 | 7.5 | |
At December 31, 2013, there was approximately $248,000 unrecognized compensation expense related to nonvested stock options granted under the plans. The cost is expected to be recognized over a weighted average period of fifty-eight months. The total fair value of shares vesting and recognized as compensation expense was $87,000 and $2,000 for the years ended December 31, 2013 and 2012, respectively. | |||||
The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions for the years ended 2013 and 2012: | |||||
2013 | 2012 | ||||
Risk-free interest rate | 2.47% | .73-1.44% | |||
Dividend yield | - | - | |||
Expected stock volatility   | 21.38% | 26.05% | |||
Expected life in years | 9 | 5.5-9.0 | |||
Per share grant-date fair value of options issued | |||||
during the year | $5.66 | $2.75-3.76 | |||
The Company examined its historical pattern of option exercises in an effort to determine if there were any pattern based on certain employee populations. From this analysis, the Company could not identify any patterns in the exercise of options. As such, the Company used the guidance issued by the Securities and Exchange Commission to determine the estimated life of options issued. Expected volatility is based on historical volatility of Sunshine financial. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield assumption is based on the Company's historical and expected dividend payments. | |||||
The Company's 2012 Equity Incentive Plan also authorized the grant of up to 49,378 restricted common shares. The restriction period for these shares is five years. Restricted shares are forfeited if employment is terminated before the restriction period expires. The record holder of the Company's restricted shares of common stock possesses all the rights of a holder of the Company common stock, including the right to receive dividends on and to vote the restricted shares. The restricted shares may not be sold, transferred, pledged, assigned, encumbered, or otherwise alienated or hypothecated until they become fully vested and transferable in accordance with the agreements. Compensation expense for restricted stock totaled $24,000 in 2013. There was no associated income tax benefit recognized. | |||||
A summary of the status of the Company's restricted stock and changes during the years then ended are presented below: | |||||
Number of Shares | Weighted-Average Grant-Date Fair Value | ||||
Outstanding at December 31, 2012 | - | $- | |||
Issued | 42,500 | 16.75 | |||
Outstanding at December 31, 2013 | 42,500 | $16.75 | |||
Total unrecognized compensation cost related to these nonvested restricted stock amounted to approximately $688,000 at December 31, 2013. This cost is expected to be recognized monthly over the related vesting period using the straight-line method through 2018. | |||||
17_Fair_Value_Measurements
(17) Fair Value Measurements | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Notes | ' | ||||||
(17) Fair Value Measurements | ' | ||||||
(17)Â Fair Value Measurements | |||||||
Impaired collateral-dependent loans are carried at fair value when the current collateral value is lower than the carrying value of the loan. Those impaired collateral-dependent loans which are measured at fair value on a nonrecurring basis at December 31, 2013 and 2012 are as follows (in thousands): | |||||||
Quoted Prices | |||||||
In Active | Significant | ||||||
Markets for | Other | Significant | Losses | ||||
Identical | Observable | Unobservable | Recorded | ||||
Fair | Assets | Inputs | Inputs | Total | During the | ||
Value | Level 1 | Level 2 | Level 3 | Losses | Year | ||
At December 31, 2013: | |||||||
 One-to four-family | $2,866 | - | - | 2,866 | 179 | 128 | |
 Home equity | 278 | - | - | 278 | 31 | 8 | |
 Credit cards and unsecured | 45 | - | - | 45 | 9 | 3 | |
   Total | $3,189 | - | - | 3,189 | 219 | 139 | |
At December 31, 2012: | |||||||
 One-to four-family | $2,160 | - | - | 2,160 | 308 | 232 | |
 Lot loans | 52 | - | - | 52 | 221 | 103 | |
 Home equity | 256 | - | - | 256 | 158 | 112 | |
 Credit cards and unsecured | 38 | - | - | 38 | 6 | 6 | |
   Total | $2,506 | - | - | 2,506 | 693 | 453 | |
Foreclosed assets is recorded at fair value less estimated costs to sell. Foreclosed assets which is measured at fair value on a nonrecurring basis at December 31, 2012 and 2011 is summarized below (in thousands): | |||||||
Quoted Prices | |||||||
In Active | Significant | ||||||
Markets for | Other | Significant | Losses | ||||
Identical | Observable | Unobservable | Recorded | ||||
Fair | Assets | Inputs | Inputs | Total | During the | ||
Value | (Level 1) | (Level 2) | (Level 3) | Losses | Year | ||
At December 31, 2013- | |||||||
   Foreclosed assets | $724 | - | - | 724 | 44 | 22 | |
At December 31, 2012- | |||||||
   Foreclosed assets | $1,878 | - | - | 1,878 | 137 | 95 | |
18_Regulatory_Matters
(18) Regulatory Matters | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Notes | ' | ||||||
(18) Regulatory Matters | ' | ||||||
(18)Â Regulatory Matters | |||||||
The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's and the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank's assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts (set forth in the table below) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined). Management believes, as of December 31, 2013, that the Bank meets all capital adequacy requirements to which it is subject. | |||||||
As of December 31, 2013, the Bank was categorized as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the following table. There are no conditions or events since that notification that management believes have changed the Bank's category.  | |||||||
The Bank's actual regulatory capital amounts and percentages at December 31, 2013 and 2012 are presented in the table (dollars in thousands): | |||||||
Minimum | |||||||
To Be Well | |||||||
Minimum | Capitalized Under | ||||||
For Capital Adequacy | Prompt and Corrective | ||||||
Actual | Purposes | Action Provisions | |||||
Amount | % | Amount | % | Amount | % | ||
At December 31, 2013: | |||||||
Total Capital to Risk- | |||||||
 Weighted Assets | $19,104 | 21.53% | $7,097 | 8.00% | $8,872 | 10.00% | |
Tier I Capital to Risk- | |||||||
 Weighted Assets | 17,993 | 20.28 | 3,549 | 4 |  5,323 | 6 | |
Tier I Capital | |||||||
 to Total Assets | 17,993 | 12.67 | 5,681 | 4 | 7,102 | 5 | |
At December 31, 2012: | |||||||
Total Capital to Risk- | |||||||
 Weighted Assets | 18,406 | 20.96 | 7,027 | 8 | 8,783 | 10 | |
Tier I Capital to Risk- | |||||||
 Weighted Assets | 17,302 | 19.7 | 3,514 | 4 |  5,270 | 6 | |
Tier I Capital | |||||||
 to Total Assets | 17,302 | 11.96 | 5,787 | 4 | 7,235 | 5 | |
19_Parent_Company_Only_Financi
(19) Parent Company Only Financial Information | 12 Months Ended | ||
Dec. 31, 2013 | |||
Notes | ' | ||
(19) Parent Company Only Financial Information | ' | ||
(19)Â Parent Company Only Financial Information | |||
The Holding Company's financial information follows (in thousands): | |||
Condensed Balance Sheets | |||
At December 31, | |||
2013 | 2012 | ||
Assets | |||
 Cash | $2,162 | 4,761 | |
 Investment in subsidiary | 20,540 | 20,030 | |
 Loans | 972 | - | |
 Deferred income taxes | 57 | 26 | |
 Other assets | - | 119 | |
   Total assets | $23,731 | 24,936 | |
Liabilities and Stockholders' Equity | |||
 Other liabilities | 17 | 1 | |
 Stockholders' equity | 23,714 | 24,935 | |
   Total liabilities and stockholders' equity | $23,731 | 24,936 | |
Condensed Statements of Operations | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Revenues | $47 | 49 | |
Expenses | -136 | -100 | |
 (Loss) before earnings (loss) of subsidiary | -89 | -51 | |
 Net earnings (loss) of subsidiary | 443 | -515 | |
Earnings (loss) before income taxes (benefit) | 354 | -566 | |
 Income taxes (benefit) | -31 | -38 | |
Net earnings (loss) | $385 | -528 | |
Condensed Statements of Cash Flows | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Cash flows from operating activities: | |||
Net earnings (loss) | $385 | -528 | |
Adjustments to reconcile net earnings (loss) to net cash | |||
 provided by (used in) operating activities: | |||
ESOP compensation expense | 47 | 76 | |
Decrease in investment in subsidiary due to ESOP | |||
compensation | 44 | - | |
Deferred income taxes | -31 | -26 | |
Decrease in other assets | 119 | -42 | |
Increase (decrease) in other liabilities | 16 | -10 | |
Equity in undistributed (earnings) loss of subsidiary | -443 | 515 | |
Net cash provided by (used in) operating activities | 137 | -15 | |
Cash flows used in investing activity- | |||
Loan purchase, net of repayments | -972 | - | |
Cash flows from financing activity- | |||
Repurchase of common stock | -1,764 | - | |
Net cash provided by financing activities | -1,764 | - | |
Net decrease in cash | -2,599 | -15 | |
Cash at beginning of the year | 4,761 | 4,776 | |
Cash at end of year | $2,162 | 4,761 | |
Supplemental disclosure of cash flow information: | |||
Noncash transactions- | |||
Stock-based compensation expense of subsidiary | $111 | 2 | |
2_Earnings_loss_Per_Share_Sche
(2) Earnings (loss) Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Tables/Schedules | ' | ||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||||
2013 | 2012 | ||||||
Weighted- | Per | Weighted- | Per | ||||
Average | Share | Average | Share | ||||
Earnings | Shares | Amount | Loss | Shares | Amount | ||
Year Ended December 31: | |||||||
 Basic EPS: | |||||||
   Net earnings (loss) | $385 | 1,147,610 | $0.34 | ($528) | 1,148,355 | ($0.46) | |
 Effect of dilutive securities- | |||||||
   Incremental shares from assumed conversion | |||||||
     of options (antidilutive in 2012) | 17,700 | - | |||||
 Diluted EPS: | |||||||
   Net earnings (loss) | $385 | 1,165,311 | $0.33 | ($528) | 1,148,355 | ($0.46) |
3_Securities_Held_To_Maturity_
(3) Securities Held To Maturity: Schedule of Held to Maturity Securities Amortized Cost, Gross Unrealized Gains and Losses and Fair Value (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Held to Maturity Securities Amortized Cost, Gross Unrealized Gains and Losses and Fair Value | ' | ||||
Management has classified all securities as held to maturity. The carrying amount of securities and their fair values at the dates indicated are as follows (in thousands): | |||||
Gross | Gross | ||||
Amortized | Unrealized | Unrealized | Fair | ||
Cost | Gains | Losses | Value | ||
At December 31, 2013: | |||||
Mortgage-backed securities | $2,167 | 88 | - | 2,255 | |
Collateralized mortgage obligations | 24,457 | 34 | -790 | 23,701 | |
$26,624 | 122 | -790 | 25,956 | ||
At December 31, 2012: | |||||
Mortgage-backed securities | 3,137 | 166 | - | 3,303 | |
Collateralized mortgage obligations | 12,304 | 73 | -22 | 12,355 | |
$15,441 | 239 | -22 | 15,658 |
3_Securities_Held_To_Maturity_1
(3) Securities Held To Maturity: Schedule of Securities with Gross Unrealized Losses, Aggregated by Investment Category and Length of Time in Continuous Loss Position (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Securities with Gross Unrealized Losses, Aggregated by Investment Category and Length of Time in Continuous Loss Position | ' | ||||
Securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position at the date indicated, are as follows (in thousands): | |||||
Less than Twelve Months | Twelve Months or Longer | ||||
Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | ||
At December 31, 2013: | |||||
 Collateralized mortgage obligations | ($481) | 17,985 | -309 | 4,315 |
4_Loans_Schedule_of_Accounts_N
(4) Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Accounts, Notes, Loans and Financing Receivable | ' | ||
The loan portfolio segments and classes at the dates indicated are as follows (in thousands): | |||
December 31, | |||
2013 | 2012 | ||
Real estate mortgage loans: | |||
 One-to-four-family | $50,629 | $59,987 | |
 Lot loans | 5,293 | 6,289 | |
 Commercial real estate | 18,189 | 7,847 | |
 Construction |     381 |  1,006 | |
   Total real estate loans | 74,492 | 75,129 | |
Commercial | Â Â Â Â 296 | Â Â Â Â Â Â 24 | |
Consumer loans: | |||
 Home equity | 8,817 | 10,407 | |
 Automobile | 4,000 | 3,043 | |
 Credit cards and unsecured | 7,100 | 7,521 | |
 Deposit account | 622 | 578 | |
 Other |   1,202 |   1,428 | |
   Total consumer loans | 21,741 | 22,977 | |
   Total loans | 96,529 | 98,130 | |
Less: | |||
 Loans in process | 318 | -1,199 | |
 Deferred fees and discounts | -74 | -63 | |
 Allowance for losses |  (1,294) |  (1,533) | |
   Total loans, net | $95,479 | $95,335 | |
4_Loans_Schedule_of_Activity_i
(4) Loans: Schedule of Activity in the Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Tables/Schedules | ' | ||||||||||||
Schedule of Activity in the Allowance for Loan Losses | ' | ||||||||||||
The activity in the allowance for loan losses for the periods shown was as follows (in thousands): | |||||||||||||
Real Estate Loans | Consumer Loans | ||||||||||||
One-to Four- Family | Lot Loans | Commercial Real Estate | Constru- ction | Comm- ercial Loans | Home Equity | Auto- mobile | Credit Cards and Unsecured | Deposit Account | Other | Un- allocated | Total | ||
Year Ended December 31, 2013: | |||||||||||||
Beginning balance | $690 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,533 | |
Provision (credit) for loan loss | 144 | 37 | 85 | 1 | 5 | -248 | - | 41 | - | -6 | 18 | 77 | |
Charge-offs | -243 | -32 | - | - | - | -144 | -1 | -136 | - | -24 | - | -580 | |
Recoveries | 14 | - | - | - | - | 195 | 4 | 51 | - | - | - | 264 | |
Ending balance | $605 | 93 | 163 | 1 | 5 | 146 | 12 | 187 | - | 64 | 18 | 1,294 | |
Individually evaluated for impairment: | |||||||||||||
 Recorded investment | $2,935 | - | - | - | - | 281 | - | 47 | - | - | - | 3,263 | |
 Balance in allowance for loan losses | $68 | - | - | - | - | 3 | - | 3 | - | - | - | 74 | |
Collectively evaluated for impairment: | |||||||||||||
 Recorded investment | $47,694 | 5,293 | 18,189 | 381 | 296 | 8,536 | 4,000 | 7,053 | 622 | 1,202 | - | 93,266 | |
 Balance in allowance for loan losses | $537 | 93 | 163 | 1 | 5 | 143 | 12 | 184 | - | 64 | 18 | 1,220 | |
Year Ended December 31, 2012: | |||||||||||||
Beginning balance | 475 | 144 | - | - | - | 235 | 39 | 337 | - | 99 | - | 1,329 | |
Provision (credit) for loan loss | 666 | 67 | 78 | - | - | 388 | -24 | 125 | - | 109 | - | 1,409 | |
Charge-offs | -611 | -128 | - | - | - | -303 | -18 | -283 | - | -115 | - | -1,458 | |
Recoveries | 160 | 5 | - | - | - | 23 | 12 | 52 | - | 1 | - | 253 | |
Ending balance | $690 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,533 | |
Individually evaluated for impairment: | |||||||||||||
 Recorded investment | $3,156 | 135 | - | - | - | 318 | - | 38 | - | - | - | 3,647 | |
 Balance in allowance for loan losses | $30 | - | - | - | - | - | - | - | - | - | - | 30 | |
Collectively evaluated for impairment: | |||||||||||||
 Recorded investment | $56,831 | 6,154 | 7,847 | 1,006 | 24 | 10,089 | 3,043 | 7,483 | 578 | 1,428 | - | 94,483 | |
 Balance in allowance for loan losses | $660 | 88 | 78 | - | - | 343 | 9 | 231 | - | 94 | - | 1,503 |
4_Loans_Financing_Receivable_C
(4) Loans: Financing Receivable Credit Quality Indicators (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||
The following summarizes the loan credit quality at the dates indicated (in thousands): | ||||||||||||
Credit Risk | ||||||||||||
Profile by Internally | One to Four | Lot | Commercial Real | Constru- | Comme- | Home | Auto- | Credit Cards and | Deposit | |||
Assigned Grade: | Family | Loans | Estate | ction | rcial | Equity | mobile | Unsecured | Account | Other | Total | |
At December 31, 2013: | ||||||||||||
 Grade: | ||||||||||||
   Pass | $46,775 | 5,293 | 18,189 | 381 | 296 | 8,464 | 3,958 | 7,029 | 622 | 1,008 | 92,015 | |
   Special mention | 483 | - | - | - | - | 75 | 4 | 13 | - | 28 | 603 | |
   Substandard | 3,371 | - | - | - | - | 278 | 38 | 58 | - | 166 | 3,911 | |
 Total | $50,629 | 5,293 | 18,189 | 381 | 296 | 8,817 | 4 | 7,100 | 622 | 1,202 | 96,529 | |
At December 31, 2012: | ||||||||||||
 Grade: | ||||||||||||
   Pass | 55,104 | 6,202 | 7,847 | 1,006 | 24 | 9,935 | 3,010 | 7,473 | 578 | 1,428 | 92,607 | |
   Special mention | 923 | - | - | - | - | 26 | 14 | 4 | - | - | 967 | |
   Substandard | 3,960 | 87 | - | - | - | 446 | 19 | 44 | - | - | 4,556 | |
 Total | $59,987 | 6,289 | 7,847 | 1,006 | 24 | 10,407 | 3,043 | 7,521 | 578 | 1,428 | 98,130 |
4_Loans_Schedule_of_Age_Analys
(4) Loans: Schedule of Age Analysis of Past Due Loans (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Tables/Schedules | ' | |||||||
Schedule of Age Analysis of Past Due Loans | ' | |||||||
Age analysis of past-due loans at the dates indicated is as follows (in thousands): | ||||||||
Accruing Loans | ||||||||
90 Days | ||||||||
30-59 | 60-89 | and | Total | |||||
Days | Days | Greater | Past | Nonaccrual | Total | |||
Past Due | Past Due | Past Due | Due | Current | Loans | Loans | ||
At December 31, Â 2013: | ||||||||
   Real estate loans: | ||||||||
       One-to-four family | $912 | 494 | - | 1,406 | 48,226 | 997 | 50,629 | |
       Lot loans | - | 35 | - | 35 | 5,238 | 20 | 5,293 | |
       Commercial | - | - | - | - | 18,189 | - | 18,189 | |
       Construction | - | - | - | - | 381 | - | 381 | |
   Commercial loans | - | - | - | - | 296 | - | 296 | |
   Consumer loans: | ||||||||
       Home equity | 123 | 72 | - | 195 | 8,553 | 69 | 8,817 | |
       Automobile | 2 | 4 | - | 6 | 3,956 | 38 | 4,000 | |
       Credit cards and unsecured | 63 | 13 | - | 76 | 7,011 | 13 | 7,100 | |
       Deposit account | - | - | - | - | 622 | - | 622 | |
       Other | 130 | 29 | - | 159 | 877 | 166 | 1,202 | |
   Total | $1,230 | 647 | - | 1,877 | 93,349 | 1,303 | 96,529 | |
At December 31, 2012: | ||||||||
   Real estate loans: | ||||||||
       One-to-four family | 1,310 | 611 | - | 1,921 | 56,033 | 2,033 | 59,987 | |
       Lot loans | 96 | - | - | 96 | 6,106 | 87 | 6,289 | |
       Commercial | - | - | - | - | 7,847 | - | 7,847 | |
      Construction | - | - | - | - | 1,006 | - | 1,006 | |
   Commercial loans | - | - | - | - | 24 | - | 24 | |
   Consumer loans: | ||||||||
       Home equity | 527 | 110 | - | 637 | 9,612 | 158 | 10,407 | |
       Automobile | - | 14 | - | 14 | 3,010 | 19 | 3,043 | |
       Credit cards and unsecured | 146 | - | - | 146 | 7,365 | 10 | 7,521 | |
       Deposit account | - | - | - | - | 578 | - | 578 | |
       Other | 100 | - | - | 100 | 1,328 | - | 1,428 | |
   Total | $2,179 | 735 | - | 2,914 | 92,909 | 2,307 | 98,130 | |
4_Loans_Impaired_Financing_Rec
(4) Loans: Impaired Financing Receivables (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Tables/Schedules | ' | ||||||||||
Impaired Financing Receivables | ' | ||||||||||
The following summarizes the amount of impaired loans at the dates indicated (in thousands): | |||||||||||
With No Related Allowance Recorded | With an Allowance Recorded | Total | |||||||||
Recorded Investment | Unpaid Principal Balance | Recorded Investment | Unpaid Principal Balance | Related Allowance | Recorded Investment | Unpaid Principal Balance | Related Allowance | ||||
At December 31, 2013: | |||||||||||
 Real estate loans: | |||||||||||
   One-to-four family | $1,468 | 1,578 | 1,467 | 1,467 | 68 | 2,935 | 3,045 | 68 | |||
   Lot loans | - | - | - | - | - | - | - | - | |||
 Consumer loans: | |||||||||||
   Home equity | 236 | 265 | 45 | 45 | 3 | 281 | 310 | 3 | |||
  Credit card and unsecured | 31 | 37 | 16 | 16 | 3 | 47 | 53 | 3 | |||
$1,735 | 1,880 | 1,528 | 1,528 | 74 | 3,263 | 3,408 | 74 | ||||
At December 31, 2012: | |||||||||||
 Real estate loans: | |||||||||||
   One-to-four family | 2,625 | 2,902 | 531 | 531 | 30 | 3,156 | 3,433 | 30 | |||
   Lot loans | 135 | 356 | - | - | - | 135 | 356 | - | |||
 Consumer loans: | |||||||||||
   Home equity | 318 | 476 | - | - | - | 318 | 476 | - | |||
  Credit card and unsecured | 38 | 44 | - | - | - | 38 | 44 | - | |||
$3,116 | 3,778 | 531 | 531 | 30 | 3,647 | 4,309 | 30 | ||||
4_Loans_Schedule_of_Average_In
(4) Loans: Schedule of Average Investment, Interest Income Recognized and Received on Impaired Loans (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Tables/Schedules | ' | |||
Schedule of Average Investment, Interest Income Recognized and Received on Impaired Loans | ' | |||
The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): | ||||
Average | Interest | Interest | ||
Recorded | Income | Income | ||
Investment | Recognized | Received | ||
For the Year Ended December 31, 2013: | ||||
 Real estate loans: | ||||
   One-to-four family | $3,076 | 92 | 95 | |
   Lot loans | 18 | - | - | |
 Consumer loans: | ||||
   Home equity | 268 | 6 | 6 | |
   Credit card and unsecured | 36 | 1 | 1 | |
   Total | $3,398 | 99 | 102 | |
For the Year Ended December 31, 2012: | ||||
 Real estate loans: | ||||
   One-to-four family | 3,604 | 92 | 98 | |
   Lot loans | 73 | 2 | 31 | |
 Consumer loans: | ||||
   Home equity | 402 | 8 | 9 | |
   Credit card and unsecured | 31 | - | - | |
   Total | $4,110 | 102 | 138 | |
4_Loans_Troubled_Debt_Restruct
(4) Loans: Troubled Debt Restructurings on Financing Receivables (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Tables/Schedules | ' | |||
Troubled Debt Restructurings on Financing Receivables | ' | |||
     Troubled debt restructurings entered into are as follows (dollars in thousands): | ||||
Outstanding Recorded Investment | ||||
Number | ||||
of | Pre- | Post- | ||
Contracts | Modification | Modification | ||
Year Ended December 31, 2013: | ||||
 Real estate mortgage loans- | ||||
   One-to-four family- | ||||
     Modified interest rates | 3 | $952 | 952 | |
 Consumer loans- | ||||
   Home equity- | ||||
     Modified interest rates | 1 | 45 | 45 | |
   Credit card and unsecured- | ||||
     Modified interest rates | 1 | 17 | 17 | |
5 | $1,014 | 1,014 | ||
Year Ended December 31, 2012: | ||||
 Real estate mortgage loans- | ||||
   One-to-four family- | ||||
     Modified interest rates      | 4 | 721 | 721 | |
 Consumer loans- | ||||
   Credit card and unsecured- | ||||
     Modified interest rates | 1 | 49 | 49 | |
5 | $770 | 770 | ||
5_Premises_and_Equipment_Sched
(5) Premises and Equipment: Schedule of Property Plant and Equipment (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Property Plant and Equipment | ' | ||
Premises and equipment are summarized as follows (in thousands): | |||
At December 31, | |||
2013 | 2012 | ||
Land | $1,125 | 528 | |
Buildings and improvements | 5,574 | 4,341 | |
Furniture and equipment | 4,233 | 4,399 | |
   Total, at cost | 10,932 | 9,268 | |
Less accumulated depreciation | 5,825 | 5,947 | |
   Premises and equipment, net | $5,107 | 3,321 | |
5_Premises_and_Equipment_Sched1
(5) Premises and Equipment: Schedule of Future Minimum Rental Payments for Operating Leases (Tables) | 12 Months Ended | |
Dec. 31, 2013 | ||
Tables/Schedules | ' | |
Schedule of Future Minimum Rental Payments for Operating Leases | ' | |
Year Ending | ||
December 31, | Amount | |
2014 | $172 | |
2015 | 154 | |
2016 | 79 | |
2017 | 27 | |
$432 |
6_Foreclosed_Real_Estate_Sched
(6) Foreclosed Real Estate: Schedule of Foreclosed Real Estate Expenses (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Foreclosed Real Estate Expenses | ' | ||
Expenses applicable to foreclosed real estate are as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Write-down of foreclosed real estate | $29 | 132 | |
Operating expenses | 181 | 302 | |
$210 | 434 |
7_Deposits_Schedule_of_Time_De
(7) Deposits: Schedule of Time Deposits (Tables) | 12 Months Ended | |
Dec. 31, 2013 | ||
Tables/Schedules | ' | |
Schedule of Time Deposits | ' | |
Year Ending | ||
December 31, | Amount | |
2014 | $21,520 | |
2015 | 3,900 | |
2016 | 1,101 | |
2017 | 1,260 | |
2018 | 790 | |
$28,571 | ||
7_Deposits_Schedule_of_Interes
(7) Deposits: Schedule of Interest Expense on Deposit Accounts (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Interest Expense on Deposit Accounts | ' | ||
Interest expense details are as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Money-market deposit accounts | $139 | 146 | |
Savings accounts | 105 | 171 | |
Time deposits | 162 | 236 | |
$406 | 553 |
9_Offbalancesheet_Financial_In1
(9) Off-balance-sheet Financial Instruments: Schedule of Line of Credit Facilities (Tables) | 12 Months Ended | |
Dec. 31, 2013 | ||
Tables/Schedules | ' | |
Schedule of Line of Credit Facilities | ' | |
Unused lines of credit typically result in loans with a market interest rate when funded. A summary of the amounts of the Company's financial instruments, with off-balance-sheet risk at the dates indicated follows (in thousands):Â | ||
At December 31, | ||
2013 | ||
Unused lines of credit (rates range from | ||
3.93% to 15.45%) | $15,274 |
10_Fair_Value_of_Financial_Ins1
(10) Fair Value of Financial Instruments: Schedule of Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Fair Value of Financial Instruments | ' | ||||
The estimated fair values of the Company's financial instruments at the dates indicated are as follows (in thousands): | |||||
At December 31, 2013 | At December 31, 2012 | ||||
Carrying | Fair | Carrying | Fair | ||
Amount | Value | Amount | Value | ||
Financial assets: | |||||
 Cash and cash equivalents (Level 1) | $14,455 | 14,455 | 26,909 | 26,909 | |
 Securities held to maturity (Level 2) | 26,624 | 25,956 | 15,441 | 15,658 | |
 Loans (Level 3) | 95,479 | 95,617 | 95,335 | 95,228 | |
 Federal Home Loan Bank stock (Level 3) | 177 | 177 | 218 | 218 | |
 Accrued interest receivable (Level 3) | 311 | 311 | 367 | 367 | |
Financial liabilities: | |||||
 Deposits (Level 3) | 122,060 | 118,443 | 112,662 | 119,741 | |
Off-balance-sheet financial instruments (Level 3) | - | - | - | - |
11_Income_Taxes_Schedule_of_Co
(11) Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||
The components of income taxes (benefit) for the years ended December 31, 2013 and 2012 are as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Current: | |||
 Federal | $25 | - | |
 State | - | - | |
   Total current | 25 | - | |
Deferred: | |||
 Federal | 130 | -297 | |
 State | 26 | -51 | |
   Total deferred | 156 | -348 | |
   Income taxes (benefit) | $181 | -348 |
11_Income_Taxes_Schedule_of_Ef
(11) Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||
The reasons for the differences between the statutory Federal income tax rate and the effective tax rate at the dates indicated are as follows (dollars in thousands): | |||||
Year Ended December 31, | |||||
2013 | 2012 | ||||
% of | % of | ||||
Pretax | Pretax | ||||
Amount | Earnings | Amount | Loss | ||
Income taxes (benefit) at Federal | |||||
 statutory rate | $193 | 34.00% | ($297) | 34.00% | |
Increase in income tax benefit resulting from- | |||||
 State taxes, net of Federal tax | 17 | 3 | -51 | 5.7 | |
 Other | -29 | -5 | - | - | |
   Total | $181 | 32.00% | ($348) | 39.70% |
11_Income_Taxes_Schedule_of_De
(11) Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Deferred Tax Assets and Liabilities | ' | ||
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at the dates indicated are presented below (in thousands): | |||
At December 31, | |||
2013 | 2012 | ||
Deferred tax assets: | |||
 Allowance for loan losses | $487 | 567 | |
 Net operating loss carryforwards | 1,556 | 1,654 | |
 Other | 83 | 21 | |
 Nonaccrual interest | 426 | 384 | |
 Foreclosed property expenses | 15 | 137 | |
 Premises and equipment | 38 | - | |
 Stock option expense | 42 | - | |
   Total deferred tax assets | 2,647 | 2,763 | |
Deferred tax liabilities: | |||
 Mortgage service rights | -91 | - | |
 Premises and equipment | - | -51 | |
   Total deferred tax liabilities | -91 | -51 | |
   Net deferred tax asset | $2,556 | 2,712 | |
13_Related_Parties_Schedule_of
(13) Related Parties: Schedule of Related Party Transactions (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Related Party Transactions | ' | ||
The Company makes loans to and accepts deposits from its executive officers and directors and their related entities. The activity for the periods shown is as follows (in thousands): | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Loans at beginning of year | $149 | 152 | |
Additions | 9 | 18 | |
Repayments | -126 | -21 | |
Loans at end of year | $32 | 149 | |
Deposits at end of year | $123 | 584 |
16_2012_Equity_Incentive_Plan_
(16) 2012 Equity Incentive Plan: Schedule of Equity Incentive Plan (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Tables/Schedules | ' | ||||
Schedule of Equity Incentive Plan | ' | ||||
On May 23, 2012, the Company’s stockholders approved its 2012 Equity Incentive Plan. The Plan authorizes the grant of options for up to 123,445 shares of the Holding Company's common stock. The options granted have ten to fifteen year terms and vest from one to five years. A summary of the activity in the Company's stock options is as follows: | |||||
Weighted- | |||||
Weighted- | Average | ||||
Average | Remaining | Aggregate | |||
Number of | Exercise | Contractual | Intrinsic | ||
Options | Price | Term | Value | ||
Outstanding at December 31, 2011 | - | $- | |||
Granted | 91,000 | 10.75 | |||
Forfeited | -1,000 | 10.75 | |||
Outstanding at December 31, 2012 | 90,000 | 10.75 | |||
Granted | 7,000 | 16.75 | |||
Forfeited | -9,500 | 10.75 | |||
Outstanding at December 31, 2013 | 87,500 | $11.23 | 13.38 | ||
Exercisable at December 31, 2013 | 10,000 | $10.75 | 8.95 | 7.5 | |
16_2012_Equity_Incentive_Plan_1
(16) 2012 Equity Incentive Plan: Schedule of Fair Value Assumptions of Options Granted (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Fair Value Assumptions of Options Granted | ' | ||
The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions for the years ended 2013 and 2012: | |||
2013 | 2012 | ||
Risk-free interest rate | 2.47% | .73-1.44% | |
Dividend yield | - | - | |
Expected stock volatility   | 21.38% | 26.05% | |
Expected life in years | 9 | 5.5-9.0 | |
Per share grant-date fair value of options issued | |||
during the year | $5.66 | $2.75-3.76 |
16_2012_Equity_Incentive_Plan_2
(16) 2012 Equity Incentive Plan: Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | ' | ||
A summary of the status of the Company's restricted stock and changes during the years then ended are presented below: | |||
Number of Shares | Weighted-Average Grant-Date Fair Value | ||
Outstanding at December 31, 2012 | - | $- | |
Issued | 42,500 | 16.75 | |
Outstanding at December 31, 2013 | 42,500 | $16.75 |
17_Fair_Value_Measurements_Fai
(17) Fair Value Measurements: Fair Value Measurements, Nonrecurring (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Tables/Schedules | ' | ||||||
Fair Value Measurements, Nonrecurring | ' | ||||||
Impaired collateral-dependent loans are carried at fair value when the current collateral value is lower than the carrying value of the loan. Those impaired collateral-dependent loans which are measured at fair value on a nonrecurring basis at December 31, 2013 and 2012 are as follows (in thousands): | |||||||
Quoted Prices | |||||||
In Active | Significant | ||||||
Markets for | Other | Significant | Losses | ||||
Identical | Observable | Unobservable | Recorded | ||||
Fair | Assets | Inputs | Inputs | Total | During the | ||
Value | Level 1 | Level 2 | Level 3 | Losses | Year | ||
At December 31, 2013: | |||||||
 One-to four-family | $2,866 | - | - | 2,866 | 179 | 128 | |
 Home equity | 278 | - | - | 278 | 31 | 8 | |
 Credit cards and unsecured | 45 | - | - | 45 | 9 | 3 | |
   Total | $3,189 | - | - | 3,189 | 219 | 139 | |
At December 31, 2012: | |||||||
 One-to four-family | $2,160 | - | - | 2,160 | 308 | 232 | |
 Lot loans | 52 | - | - | 52 | 221 | 103 | |
 Home equity | 256 | - | - | 256 | 158 | 112 | |
 Credit cards and unsecured | 38 | - | - | 38 | 6 | 6 | |
   Total | $2,506 | - | - | 2,506 | 693 | 453 |
17_Fair_Value_Measurements_Sch
(17) Fair Value Measurements: Schedule of Fair Value of Foreclosed Assets (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Tables/Schedules | ' | ||||||
Schedule of Fair Value of Foreclosed Assets | ' | ||||||
Foreclosed assets is recorded at fair value less estimated costs to sell. Foreclosed assets which is measured at fair value on a nonrecurring basis at December 31, 2012 and 2011 is summarized below (in thousands): | |||||||
Quoted Prices | |||||||
In Active | Significant | ||||||
Markets for | Other | Significant | Losses | ||||
Identical | Observable | Unobservable | Recorded | ||||
Fair | Assets | Inputs | Inputs | Total | During the | ||
Value | (Level 1) | (Level 2) | (Level 3) | Losses | Year | ||
At December 31, 2013- | |||||||
   Foreclosed assets | $724 | - | - | 724 | 44 | 22 | |
At December 31, 2012- | |||||||
   Foreclosed assets | $1,878 | - | - | 1,878 | 137 | 95 |
18_Regulatory_Matters_Schedule
(18) Regulatory Matters: Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Tables/Schedules | ' | ||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | ' | ||||||
The Bank's actual regulatory capital amounts and percentages at December 31, 2013 and 2012 are presented in the table (dollars in thousands): | |||||||
Minimum | |||||||
To Be Well | |||||||
Minimum | Capitalized Under | ||||||
For Capital Adequacy | Prompt and Corrective | ||||||
Actual | Purposes | Action Provisions | |||||
Amount | % | Amount | % | Amount | % | ||
At December 31, 2013: | |||||||
Total Capital to Risk- | |||||||
 Weighted Assets | $19,104 | 21.53% | $7,097 | 8.00% | $8,872 | 10.00% | |
Tier I Capital to Risk- | |||||||
 Weighted Assets | 17,993 | 20.28 | 3,549 | 4 |  5,323 | 6 | |
Tier I Capital | |||||||
 to Total Assets | 17,993 | 12.67 | 5,681 | 4 | 7,102 | 5 | |
At December 31, 2012: | |||||||
Total Capital to Risk- | |||||||
 Weighted Assets | 18,406 | 20.96 | 7,027 | 8 | 8,783 | 10 | |
Tier I Capital to Risk- | |||||||
 Weighted Assets | 17,302 | 19.7 | 3,514 | 4 |  5,270 | 6 | |
Tier I Capital | |||||||
 to Total Assets | 17,302 | 11.96 | 5,787 | 4 | 7,235 | 5 |
19_Parent_Company_Only_Financi1
(19) Parent Company Only Financial Information: Schedule of Condensed Balance Sheet (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Condensed Balance Sheet | ' | ||
Condensed Balance Sheets | |||
At December 31, | |||
2013 | 2012 | ||
Assets | |||
 Cash | $2,162 | 4,761 | |
 Investment in subsidiary | 20,540 | 20,030 | |
 Loans | 972 | - | |
 Deferred income taxes | 57 | 26 | |
 Other assets | - | 119 | |
   Total assets | $23,731 | 24,936 | |
Liabilities and Stockholders' Equity | |||
 Other liabilities | 17 | 1 | |
 Stockholders' equity | 23,714 | 24,935 | |
   Total liabilities and stockholders' equity | $23,731 | 24,936 | |
19_Parent_Company_Only_Financi2
(19) Parent Company Only Financial Information: Schedule of Condensed Income Statement (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Condensed Income Statement | ' | ||
Condensed Statements of Operations | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Revenues | $47 | 49 | |
Expenses | -136 | -100 | |
 (Loss) before earnings (loss) of subsidiary | -89 | -51 | |
 Net earnings (loss) of subsidiary | 443 | -515 | |
Earnings (loss) before income taxes (benefit) | 354 | -566 | |
 Income taxes (benefit) | -31 | -38 | |
Net earnings (loss) | $385 | -528 | |
19_Parent_Company_Only_Financi3
(19) Parent Company Only Financial Information: Schedule of Condensed Cash Flow Statement (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Tables/Schedules | ' | ||
Schedule of Condensed Cash Flow Statement | ' | ||
Condensed Statements of Cash Flows | |||
Year Ended December 31, | |||
2013 | 2012 | ||
Cash flows from operating activities: | |||
Net earnings (loss) | $385 | -528 | |
Adjustments to reconcile net earnings (loss) to net cash | |||
 provided by (used in) operating activities: | |||
ESOP compensation expense | 47 | 76 | |
Decrease in investment in subsidiary due to ESOP | |||
compensation | 44 | - | |
Deferred income taxes | -31 | -26 | |
Decrease in other assets | 119 | -42 | |
Increase (decrease) in other liabilities | 16 | -10 | |
Equity in undistributed (earnings) loss of subsidiary | -443 | 515 | |
Net cash provided by (used in) operating activities | 137 | -15 | |
Cash flows used in investing activity- | |||
Loan purchase, net of repayments | -972 | - | |
Cash flows from financing activity- | |||
Repurchase of common stock | -1,764 | - | |
Net cash provided by financing activities | -1,764 | - | |
Net decrease in cash | -2,599 | -15 | |
Cash at beginning of the year | 4,761 | 4,776 | |
Cash at end of year | $2,162 | 4,761 | |
Supplemental disclosure of cash flow information: | |||
Noncash transactions- | |||
Stock-based compensation expense of subsidiary | $111 | 2 | |
2_Earnings_loss_Per_Share_Sche1
(2) Earnings (loss) Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Basic Earnings Per Share | Net earnings (loss) | ' | ' |
Income (Loss) from Continuing Operations Attributable to Parent | $385 | ($528) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 1,147,610 | 1,148,355 |
Earnings Per Share, Basic and Diluted | $0.34 | ($0.46) |
Effect of dilutive securities | Incremental shares from assumed conversion of options (antidulitive in 2012) | ' | ' |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 17,700 | ' |
Diluted Earnings Per Share | Net earnings (loss) | ' | ' |
Income (Loss) from Continuing Operations Attributable to Parent | $385 | ($528) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 1,165,311 | 1,148,355 |
Earnings Per Share, Basic and Diluted | $0.33 | ($0.46) |
3_Securities_Held_To_Maturity_2
(3) Securities Held To Maturity: Schedule of Held to Maturity Securities Amortized Cost, Gross Unrealized Gains and Losses and Fair Value (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Securities held to maturity (fair value of $15,658 and $10,088) | $25,956 | $15,658 |
Collateralized Mortgage Backed Securities | ' | ' |
Held to Maturity Securities Amortized Cost | 2,167 | 3,137 |
Held to Maturity Securities Gross Unrealized Gains | 88 | 166 |
Securities held to maturity (fair value of $15,658 and $10,088) | 2,255 | 3,303 |
Collateralized Mortgage Obligations | ' | ' |
Held to Maturity Securities Amortized Cost | 24,457 | 12,304 |
Held to Maturity Securities Gross Unrealized Gains | 34 | 73 |
Held to Maturity Securities Gross Unrealized Losses | -790 | -22 |
Securities held to maturity (fair value of $15,658 and $10,088) | 23,701 | 12,355 |
Held-to-maturity Securities | ' | ' |
Held to Maturity Securities Amortized Cost | 26,624 | 15,441 |
Held to Maturity Securities Gross Unrealized Gains | 122 | 239 |
Held to Maturity Securities Gross Unrealized Losses | -790 | -22 |
Securities held to maturity (fair value of $15,658 and $10,088) | $25,956 | $15,658 |
3_Securities_Held_To_Maturity_3
(3) Securities Held To Maturity: Schedule of Securities with Gross Unrealized Losses, Aggregated by Investment Category and Length of Time in Continuous Loss Position (Details) (Collateralized Mortgage Obligations, USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Collateralized Mortgage Obligations | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | ($481) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 17,985 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | -309 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $4,315 |
4_Loans_Schedule_of_Accounts_N1
(4) Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans, gross | ' | ' |
Financing Receivable | $96,529 | $98,130 |
Loans in process | ' | ' |
Financing Receivable | 318 | -1,199 |
Deferred fees and discounts | ' | ' |
Financing Receivable | -74 | -63 |
Allowance for loan losses | ' | ' |
Financing Receivable | -1,294 | -1,533 |
Loans, net | ' | ' |
Financing Receivable | 95,479 | 95,335 |
Mortgage Loans on Real Estate | One- to Four-Family | ' | ' |
Financing Receivable | 50,629 | 59,987 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | ' | ' |
Financing Receivable | 5,293 | 6,289 |
Mortgage Loans on Real Estate | Commercial Real Estate | ' | ' |
Financing Receivable | 18,189 | 7,847 |
Mortgage Loans on Real Estate | Construction Loans | ' | ' |
Financing Receivable | 381 | 1,006 |
Mortgage Loans on Real Estate | Total Real Estate Loans | ' | ' |
Financing Receivable | 74,492 | 75,129 |
Mortgage Loans on Real Estate | Commercial Loan | ' | ' |
Financing Receivable | 296 | 24 |
Consumer Loans | Home Equity Line of Credit | ' | ' |
Financing Receivable | 8,817 | 10,407 |
Consumer Loans | Consumer Loans Auto Financing Receivable | ' | ' |
Financing Receivable | 4,000 | 3,043 |
Consumer Loans | Consumer Credit Card Financing Receivable | ' | ' |
Financing Receivable | 7,100 | 7,521 |
Consumer Loans | Deposit Accounts | ' | ' |
Financing Receivable | 622 | 578 |
Consumer Loans | Consumer Other Financing Receivable | ' | ' |
Financing Receivable | 1,202 | 1,428 |
Consumer Loans | Total Consumer Loans | ' | ' |
Financing Receivable | $21,741 | $22,977 |
4_Loans_Schedule_of_Activity_i1
(4) Loans: Schedule of Activity in the Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Unallocated Financing Receivables | ' | ' |
Provision for Doubtful Accounts | $18 | ' |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 18 | ' |
Unallocated Financing Receivables | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 18 | ' |
Total Loans | ' | ' |
Provision for Doubtful Accounts | 77 | 1,409 |
Allowance for Doubtful Accounts Receivable, Write-offs | -580 | -1,458 |
Allowance for Doubtful Accounts Receivable, Recoveries | 264 | 253 |
Financing Receivable Individually Evaluated For Impairment Recorded Investment | 3,263 | 3,647 |
Balance in Allowance for Loan Losses Individually Evaluated For Impairment Recorded Investment | 74 | 30 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 93,266 | 94,483 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 1,220 | 1,503 |
Total Loans | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 1,533 | 1,329 |
Total Loans | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 1,294 | 1,533 |
Mortgage Loans on Real Estate | One- to Four-Family | ' | ' |
Provision for Doubtful Accounts | 144 | 666 |
Allowance for Doubtful Accounts Receivable, Write-offs | -243 | -611 |
Allowance for Doubtful Accounts Receivable, Recoveries | 14 | 160 |
Financing Receivable Individually Evaluated For Impairment Recorded Investment | 2,935 | 3,156 |
Balance in Allowance for Loan Losses Individually Evaluated For Impairment Recorded Investment | 68 | 30 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 47,694 | 56,831 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 537 | 660 |
Mortgage Loans on Real Estate | One- to Four-Family | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 690 | 475 |
Mortgage Loans on Real Estate | One- to Four-Family | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 605 | 690 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | ' | ' |
Provision for Doubtful Accounts | 37 | 67 |
Allowance for Doubtful Accounts Receivable, Write-offs | -32 | -128 |
Allowance for Doubtful Accounts Receivable, Recoveries | ' | 5 |
Financing Receivable Individually Evaluated For Impairment Recorded Investment | ' | 135 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 5,293 | 6,154 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 93 | 88 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 88 | 144 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 93 | 88 |
Mortgage Loans on Real Estate | Commercial Real Estate | ' | ' |
Provision for Doubtful Accounts | 85 | 78 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 18,189 | 7,847 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 163 | 78 |
Mortgage Loans on Real Estate | Commercial Real Estate | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 78 | ' |
Mortgage Loans on Real Estate | Commercial Real Estate | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 163 | 78 |
Mortgage Loans on Real Estate | Construction Loans | ' | ' |
Provision for Doubtful Accounts | 1 | ' |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 381 | 1,006 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 1 | ' |
Mortgage Loans on Real Estate | Construction Loans | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 1 | ' |
Mortgage Loans on Real Estate | Commercial Loan | ' | ' |
Provision for Doubtful Accounts | 5 | ' |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 296 | 24 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 5 | ' |
Mortgage Loans on Real Estate | Commercial Loan | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 5 | ' |
Consumer Loans | Home Equity Line of Credit | ' | ' |
Provision for Doubtful Accounts | -248 | 388 |
Allowance for Doubtful Accounts Receivable, Write-offs | -144 | -303 |
Allowance for Doubtful Accounts Receivable, Recoveries | 195 | 23 |
Financing Receivable Individually Evaluated For Impairment Recorded Investment | 281 | 318 |
Balance in Allowance for Loan Losses Individually Evaluated For Impairment Recorded Investment | 3 | ' |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 8,536 | 10,089 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 143 | 343 |
Consumer Loans | Home Equity Line of Credit | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 343 | 235 |
Consumer Loans | Home Equity Line of Credit | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 146 | 343 |
Consumer Loans | Consumer Loans Auto Financing Receivable | ' | ' |
Provision for Doubtful Accounts | ' | -24 |
Allowance for Doubtful Accounts Receivable, Write-offs | -1 | -18 |
Allowance for Doubtful Accounts Receivable, Recoveries | 4 | 12 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 4,000 | 3,043 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 12 | 9 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 9 | 39 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 12 | 9 |
Consumer Loans | Consumer Credit Card Financing Receivable | ' | ' |
Provision for Doubtful Accounts | 41 | 125 |
Allowance for Doubtful Accounts Receivable, Write-offs | -136 | -283 |
Allowance for Doubtful Accounts Receivable, Recoveries | 51 | 52 |
Financing Receivable Individually Evaluated For Impairment Recorded Investment | 47 | 38 |
Balance in Allowance for Loan Losses Individually Evaluated For Impairment Recorded Investment | 3 | ' |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 7,053 | 7,483 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 184 | 231 |
Consumer Loans | Consumer Credit Card Financing Receivable | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 231 | 337 |
Consumer Loans | Consumer Credit Card Financing Receivable | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 187 | 231 |
Consumer Loans | Deposit Accounts | ' | ' |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 622 | 578 |
Consumer Loans | Consumer Other Financing Receivable | ' | ' |
Provision for Doubtful Accounts | -6 | 109 |
Allowance for Doubtful Accounts Receivable, Write-offs | -24 | -115 |
Allowance for Doubtful Accounts Receivable, Recoveries | ' | 1 |
Financing Receivable Collectively Evaluated For Impairment Recorded Investment | 1,202 | 1,428 |
Balance in Allowance for Loan Losses Collectively Evaluated For Impairment Recorded Investment | 64 | 94 |
Consumer Loans | Consumer Other Financing Receivable | Beginning balance | ' | ' |
Allowance For Doubtful Accounts Receivable | 94 | 99 |
Consumer Loans | Consumer Other Financing Receivable | Ending balance | ' | ' |
Allowance For Doubtful Accounts Receivable | $64 | $94 |
4_Loans_Financing_Receivable_C1
(4) Loans: Financing Receivable Credit Quality Indicators (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Total Loans | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | $92,015,000 | $92,607,000 |
Total Loans | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 603,000 | 967,000 |
Total Loans | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 3,911,000 | 4,556,000 |
Total Loans | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 96,529,000 | 98,130,000 |
Mortgage Loans on Real Estate | One- to Four-Family | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 46,775,000 | 55,104,000 |
Mortgage Loans on Real Estate | One- to Four-Family | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 483,000 | 923,000 |
Mortgage Loans on Real Estate | One- to Four-Family | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 3,371,000 | 3,960,000 |
Mortgage Loans on Real Estate | One- to Four-Family | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 50,629,000 | 59,987,000 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 5,293,000 | 6,202,000 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | ' | 87,000 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 5,293,000 | 6,289,000 |
Mortgage Loans on Real Estate | Commercial Real Estate | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 18,189,000 | 7,847,000 |
Mortgage Loans on Real Estate | Commercial Real Estate | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 18,189,000 | 7,847,000 |
Mortgage Loans on Real Estate | Construction Loans | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 381,000 | 1,006,000 |
Mortgage Loans on Real Estate | Construction Loans | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 381,000 | 1,006,000 |
Mortgage Loans on Real Estate | Commercial Loan | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 296,000 | 24,000 |
Mortgage Loans on Real Estate | Commercial Loan | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 296,000 | 24,000 |
Consumer Loans | Home Equity Line of Credit | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 8,464,000 | 9,935,000 |
Consumer Loans | Home Equity Line of Credit | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 75,000 | 26,000 |
Consumer Loans | Home Equity Line of Credit | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 278,000 | 446,000 |
Consumer Loans | Home Equity Line of Credit | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 8,817,000 | 10,407,000 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 3,958,000 | 3,010,000 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 4,000 | 14,000 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 38,000 | 19,000 |
Consumer Loans | Consumer Loans Auto Financing Receivable | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 4,000 | 3,043,000 |
Consumer Loans | Consumer Credit Card Financing Receivable | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 7,029,000 | 7,473,000 |
Consumer Loans | Consumer Credit Card Financing Receivable | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 13,000 | 4,000 |
Consumer Loans | Consumer Credit Card Financing Receivable | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 58,000 | 44,000 |
Consumer Loans | Consumer Credit Card Financing Receivable | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 7,100,000 | 7,521,000 |
Consumer Loans | Deposit Accounts | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 622,000 | 578,000 |
Consumer Loans | Deposit Accounts | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | 622,000 | 578,000 |
Consumer Loans | Consumer Other Financing Receivable | Pass | ' | ' |
Credit Risk by Internally Assigned Grade | 1,008,000 | 1,428,000 |
Consumer Loans | Consumer Other Financing Receivable | Special Mention | ' | ' |
Credit Risk by Internally Assigned Grade | 28,000 | ' |
Consumer Loans | Consumer Other Financing Receivable | Substandard | ' | ' |
Credit Risk by Internally Assigned Grade | 166,000 | ' |
Consumer Loans | Consumer Other Financing Receivable | Unlikely to be Collected Financing Receivable | ' | ' |
Credit Risk by Internally Assigned Grade | $1,202,000 | $1,428,000 |
4_Loans_Schedule_of_Age_Analys1
(4) Loans: Schedule of Age Analysis of Past Due Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total Loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | $2,179 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ' | 735 |
Financing Receivable, Recorded Investment, Past Due | ' | 2,914 |
Financing Receivable, Recorded Investment, Current | ' | 92,909 |
Financing Receivable, Recorded Investment, Nonaccrual Status | ' | 2,307 |
LoansReceivableGross | ' | 98,130 |
Mortgage Loans on Real Estate | One- to Four-Family | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 912 | 1,310 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 494 | 611 |
Financing Receivable, Recorded Investment, Past Due | 1,406 | 1,921 |
Financing Receivable, Recorded Investment, Current | 48,226 | 56,033 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 997 | 2,033 |
LoansReceivableGross | 50,629 | 59,987 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ' | 96 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 35 | ' |
Financing Receivable, Recorded Investment, Past Due | 35 | 96 |
Financing Receivable, Recorded Investment, Current | 5,238 | 6,106 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 20 | 87 |
LoansReceivableGross | 5,293 | 6,289 |
Mortgage Loans on Real Estate | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment, Current | 18,189 | 7,847 |
LoansReceivableGross | 18,189 | 7,847 |
Mortgage Loans on Real Estate | Construction Loans | ' | ' |
Financing Receivable, Recorded Investment, Current | 381 | 1,006 |
LoansReceivableGross | 381 | 1,006 |
Mortgage Loans on Real Estate | Commercial Loan | ' | ' |
Financing Receivable, Recorded Investment, Current | 296 | 24 |
LoansReceivableGross | 296 | 24 |
Consumer Loans | Home Equity Line of Credit | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 123 | 527 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 72 | 110 |
Financing Receivable, Recorded Investment, Past Due | 195 | 637 |
Financing Receivable, Recorded Investment, Current | 8,553 | 9,612 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 69 | 158 |
LoansReceivableGross | 8,817 | 10,407 |
Consumer Loans | Consumer Loans Auto Financing Receivable | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 4 | 14 |
Financing Receivable, Recorded Investment, Past Due | 6 | 14 |
Financing Receivable, Recorded Investment, Current | 3,956 | 3,010 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 38 | 19 |
LoansReceivableGross | 4,000 | 3,043 |
Consumer Loans | Consumer Credit Card Financing Receivable | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 63 | 146 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 13 | ' |
Financing Receivable, Recorded Investment, Past Due | 76 | 146 |
Financing Receivable, Recorded Investment, Current | 7,011 | 7,365 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 13 | 10 |
LoansReceivableGross | 7,100 | 7,521 |
Consumer Loans | Deposit Accounts | ' | ' |
Financing Receivable, Recorded Investment, Current | 622 | 578 |
LoansReceivableGross | 622 | 578 |
Consumer Loans | Consumer Other Financing Receivable | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 130 | 100 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 29 | ' |
Financing Receivable, Recorded Investment, Past Due | 159 | 100 |
Financing Receivable, Recorded Investment, Current | 877 | 1,328 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 166 | ' |
LoansReceivableGross | 1,202 | 1,428 |
Consumer Loans | Total Loans | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,230 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 647 | ' |
Financing Receivable, Recorded Investment, Past Due | 1,877 | ' |
Financing Receivable, Recorded Investment, Current | 93,349 | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,303 | ' |
LoansReceivableGross | $96,529 | ' |
4_Loans_Impaired_Financing_Rec1
(4) Loans: Impaired Financing Receivables (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total Loans | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | $1,735 | $3,116 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,880 | 3,778 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,528 | 531 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,528 | 531 |
Impaired Financing Receivable With Related Allowance Related Allowance | 74 | 30 |
Impaired Financing Receivable, Recorded Investment | 3,263 | 3,647 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,408 | 4,309 |
Impaired Financing Receivable, Related Allowance | 74 | 30 |
Mortgage Loans on Real Estate | One- to Four-Family | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,468 | 2,625 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,578 | 2,902 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,467 | 531 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,467 | 531 |
Impaired Financing Receivable With Related Allowance Related Allowance | 68 | 30 |
Impaired Financing Receivable, Recorded Investment | 2,935 | 3,156 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,045 | 3,433 |
Impaired Financing Receivable, Related Allowance | 68 | 30 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | ' | 135 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | ' | 356 |
Impaired Financing Receivable, Recorded Investment | ' | 135 |
Impaired Financing Receivable, Unpaid Principal Balance | ' | 356 |
Consumer Loans | Home Equity Line of Credit | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 236 | 318 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 265 | 476 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 45 | ' |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 45 | ' |
Impaired Financing Receivable With Related Allowance Related Allowance | 3 | ' |
Impaired Financing Receivable, Recorded Investment | 281 | 318 |
Impaired Financing Receivable, Unpaid Principal Balance | 310 | 476 |
Impaired Financing Receivable, Related Allowance | 3 | ' |
Consumer Loans | Consumer Credit Card Financing Receivable | ' | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 31 | 38 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 37 | 44 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 16 | ' |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 16 | ' |
Impaired Financing Receivable With Related Allowance Related Allowance | 3 | ' |
Impaired Financing Receivable, Recorded Investment | 47 | 38 |
Impaired Financing Receivable, Unpaid Principal Balance | 53 | 44 |
Impaired Financing Receivable, Related Allowance | $3 | ' |
4_Loans_Schedule_of_Average_In1
(4) Loans: Schedule of Average Investment, Interest Income Recognized and Received on Impaired Loans (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Total Loans | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | $3,398 | $4,110 |
Impaired Financing Receivable Interest Income Recognized | 99 | 102 |
Impaired Financing Receivable Interest Income Received | 102 | 138 |
Mortgage Loans on Real Estate | One- to Four-Family | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 3,076 | 3,604 |
Impaired Financing Receivable Interest Income Recognized | 92 | 92 |
Impaired Financing Receivable Interest Income Received | 95 | 98 |
Mortgage Loans on Real Estate | Real Estate Lot Loans | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 18 | 73 |
Impaired Financing Receivable Interest Income Recognized | ' | 2 |
Impaired Financing Receivable Interest Income Received | ' | 31 |
Consumer Loans | Home Equity Line of Credit | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 268 | 402 |
Impaired Financing Receivable Interest Income Recognized | 6 | 8 |
Impaired Financing Receivable Interest Income Received | 6 | 9 |
Consumer Loans | Consumer Credit Card Financing Receivable | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 36 | ' |
Impaired Financing Receivable Interest Income Recognized | 1 | ' |
Impaired Financing Receivable Interest Income Received | 1 | ' |
Consumer Loans | Consumer Loans Auto Financing Receivable | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | $31 |
4_Loans_Troubled_Debt_Restruct1
(4) Loans: Troubled Debt Restructurings on Financing Receivables (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Total Modified Loans | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 5 | 5 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $1,014 | $770 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,014 | 770 |
Mortgage Loans on Real Estate | One- to Four-Family | Modified interest rates | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 3 | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 952 | 721 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 952 | 721 |
Consumer Loans | Home Equity Line of Credit | Modified interest rates | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 45 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 45 | ' |
Consumer Loans | Consumer Credit Card Financing Receivable | Modified interest rates | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 17 | 49 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $17 | $49 |
5_Premises_and_Equipment_Sched2
(5) Premises and Equipment: Schedule of Property Plant and Equipment (Details) (Property, Plant and Equipment, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment | ' | ' |
Land | $1,125 | $528 |
Buildings and Improvements, Gross | 5,574 | 4,341 |
Furniture and Fixtures, Gross | 4,233 | 4,399 |
Property, Plant and Equipment, Gross | 10,932 | 9,268 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 5,825 | 5,947 |
Property, Plant, and Equipment, Owned, Net | $5,107 | $3,321 |
5_Premises_and_Equipment_Sched3
(5) Premises and Equipment: Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Details | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | $172 |
Operating Leases, Future Minimum Payments, Due in Four Years | 154 |
Operating Leases, Future Minimum Payments, Due in Five Years | 79 |
Operating Leases, Future Minimum Payments, Due Thereafter | 27 |
Operating Leases, Future Minimum Payments Due | $432 |
6_Foreclosed_Real_Estate_Sched1
(6) Foreclosed Real Estate: Schedule of Foreclosed Real Estate Expenses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Details | ' | ' |
Write-down of foreclosed real estate | $29 | $132 |
Other Cost and Expense, Operating | 181 | 302 |
Foreclosed Real Estate Expense | $210 | $434 |
7_Deposits_Aggregate_Amount_of
(7) Deposits: Aggregate Amount of Time Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Details | ' | ' |
Time Deposits, $100,000 or More | $8.10 | $8.50 |
7_Deposits_Schedule_of_Time_De1
(7) Deposits: Schedule of Time Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Time Deposit Maturities, Next Twelve Months | $21,520 | ' |
Time Deposit Maturities, Year Two | 3,900 | ' |
Time Deposit Maturities, Year Three | 1,101 | ' |
Time Deposit Maturities, Year Four | 1,260 | ' |
Time Deposit Maturities, Year Five | 790 | ' |
Time deposits | $28,571 | $31,363 |
7_Deposits_Schedule_of_Interes1
(7) Deposits: Schedule of Interest Expense on Deposit Accounts (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Details | ' | ' |
Interest Expense, Money Market Deposits | $139 | $146 |
Interest Expense, Demand Deposit Accounts | 105 | 171 |
Interest Expense, Time Deposits | 162 | 236 |
Deposit accounts | $406 | $553 |
8_Line_of_Credit_Federal_Funds
(8) Line of Credit: Federal Funds Unsecured Lines of Credit (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Correspondent Bank | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | $4,500,000 | ' |
Line of Credit Facility, Amount Outstanding | 0 | 0 |
Federal Home Loan Bank of Atlanta | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | 14,500,000 | ' |
Line of Credit Facility, Amount Outstanding | $0 | $0 |
9_Offbalancesheet_Financial_In2
(9) Off-balance-sheet Financial Instruments: Schedule of Line of Credit Facilities (Details) (USD $) | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | ||
Details | ' | |
Unused Commitments to Extend Credit | $15,274 | [1] |
[1] | Rates range from 3.93% to 15.45%. |
10_Fair_Value_of_Financial_Ins2
(10) Fair Value of Financial Instruments: Schedule of Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financial assets | Cash and Cash Equivalents | ' | ' | ||
Financial Instruments Owned Carrying Amount | $14,455 | [1] | $26,909 | [1] |
Financial Instruments, Owned, at Fair Value | 14,455 | [1] | 26,909 | [1] |
Financial assets | Held-to-maturity Securities | ' | ' | ||
Financial Instruments Owned Carrying Amount | 26,624 | [2] | 15,441 | [2] |
Financial Instruments, Owned, at Fair Value | 25,956 | [2] | 15,658 | [2] |
Financial assets | Loans | ' | ' | ||
Financial Instruments Owned Carrying Amount | 95,479 | [3] | 95,335 | [3] |
Financial Instruments, Owned, at Fair Value | 95,617 | [3] | 95,228 | [3] |
Financial assets | Investment in Federal Home Loan Bank Stock | ' | ' | ||
Financial Instruments Owned Carrying Amount | 177 | [3] | 218 | [3] |
Financial Instruments, Owned, at Fair Value | 177 | [3] | 218 | [3] |
Financial assets | Accrued interest receivable | ' | ' | ||
Financial Instruments Owned Carrying Amount | 311 | [3] | 367 | [3] |
Financial Instruments, Owned, at Fair Value | 311 | [3] | 367 | [3] |
Financial liabilities | Deposits | ' | ' | ||
Financial Instruments Owned Carrying Amount | 122,060 | [3] | 112,662 | [3] |
Financial Instruments, Owned, at Fair Value | $118,443 | [3] | $119,741 | [3] |
[1] | The Company considers these fair value measurements to be Level 1 | |||
[2] | The Company considers these fair value measurements to be Level 2. | |||
[3] | The Company considers these fair value measurements to be Level 3. |
11_Income_Taxes_Schedule_of_Co1
(11) Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Details | ' | ' |
Current Federal Tax Expense (Benefit) | $25 | ' |
Other Income Tax Expense (Benefit), Continuing Operations | 25 | ' |
Deferred Federal Income Tax Expense (Benefit) | 130 | -297 |
Deferred State and Local Income Tax Expense (Benefit) | 26 | -51 |
Deferred income taxes (benefit) | 156 | -348 |
Income tax benefit | $181 | ($348) |
11_Income_Taxes_Schedule_of_Ef1
(11) Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $193,000 | ($297,000) |
Increase in income tax benefit resulting from State taxes, net of Federal tax | 17,000 | -51,000 |
IncreaseInIncomeTaxBenefitResultingFromStateTaxesNetOfFederalTaxPercentage | 3,000 | 5,700 |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | -29,000 | ' |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | -5.00% | ' |
Differences Between Statutory Federal Income Tax Rate and Effective Tax Rate | $181,000 | ($348,000) |
11_Income_Taxes_Schedule_of_De1
(11) Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Deferred Tax Assets, Valuation Allowance | $487 | $567 |
Deferred Tax Assets, Operating Loss Carryforwards | 1,556 | 1,654 |
Deferred Tax Assets, Other | 83 | 21 |
Deferred Tax Assets Nonaccrual Interest | 426 | 384 |
Deferred Tax Assets Foreclosed Property Expense | 15 | 137 |
Deferred Tax Assets, Property, Plant and Equipment | 38 | ' |
Deferred Tax Assets Stock Option Expense | 42 | ' |
Deferred Tax Assets, Gross | 2,647 | 2,763 |
Deferred Tax Liabilities, Mortgage Servicing Rights | -91 | ' |
Deferred Tax Liability Property, Plant and Equipment | ' | -51 |
Deferred Tax Liabilities, Gross, Current | -91 | -51 |
Deferred Tax Assets, Net of Valuation Allowance | $2,556 | $2,712 |
11_Income_Taxes_Operating_Loss
(11) Income Taxes: Operating Loss Carryforwards (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Details | ' |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $4.10 |
Operating Loss Carryforwards Expiration Dates | 'The carryforward will begin to expire in 2028 |
13_Related_Parties_Schedule_of1
(13) Related Parties: Schedule of Related Party Transactions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transaction, Amounts of Transaction | $9 | $18 |
Repayments of Related Party Debt | -126 | -21 |
Beginning balance | ' | ' |
Related Party Loan Amounts Held | 149 | 152 |
Ending balance | ' | ' |
Related Party Loan Amounts Held | 32 | 149 |
Related Party Deposit Liabilities | $123 | $584 |
14_Employee_Benefit_Plans_Empl
(14) Employee Benefit Plans: Employee 401(k) Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount | $17,500 | $17,500 | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | ' | 100.00% | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | ' | 5.00% | ' |
Defined Benefit Plan, Contributions by Employer | ' | $105,000 | $98,000 |
15_Employee_Stock_Ownership_Pl1
(15) Employee Stock Ownership Plan ('ESOP'): Employee Stock Ownership Plan (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' |
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP | 98,756 | ' |
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Amount | $988 | ' |
ESOP compensation expense | $47,000 | $76,000 |
16_2012_Equity_Incentive_Plan_3
(16) 2012 Equity Incentive Plan: Schedule of Equity Incentive Plan (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Options Granted | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 7,000 | 91,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options In Period Weighted Average Exercise Price | $16.75 | $10.75 |
Options Forfeited | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | -9,500 | -1,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options In Period Weighted Average Exercise Price | $10.75 | $10.75 |
Outstanding at end of period | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 87,500 | 90,000 |
Share Based Compensation Arrangement By Share Based Payment Award Options In Period Weighted Average Exercise Price | $11.23 | $10.75 |
Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Remaining Contractual Term | 13.38 | ' |
Exercisable at end of period | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 10,000 | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options In Period Weighted Average Exercise Price | $10.75 | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Weighted Average Remaining Contractual Term | 8.95 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $7,500 | ' |
16_2012_Equity_Incentive_Plan_4
(16) 2012 Equity Incentive Plan: Stock Option Compensation Expense (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Details | ' | ' |
Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards | $248,000 | ' |
Employee Service Share Based Compensation Unrecognized Compensation Costs On Nonvested Awards Weighted Average Period Of Recognition | 58 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $87,000 | $2,000 |
16_2012_Equity_Incentive_Plan_5
(16) 2012 Equity Incentive Plan: Schedule of Fair Value Assumptions of Options Granted (Details) (Equity Incentive Plan, USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value Assumptions, Risk Free Interest Rate | 2.47% | ' |
Fair Value Assumptions, Expected Volatility Rate | 21.38% | 26.05% |
Option granted in period expected life in years | 9 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $5.66 | ' |
Minimum | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | ' | 0.73% |
Option granted in period expected life in years | ' | 5.5 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | 2.75 |
Maximum | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | ' | 1.44% |
Option granted in period expected life in years | ' | 9 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | 3.76 |
16_2012_Equity_Incentive_Plan_6
(16) 2012 Equity Incentive Plan: Equity Incentive Plan Restricted Stock (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Details | ' |
Weighted Average Number of Shares, Restricted Stock | 49,378 |
Restricted Stock or Unit Expense | $24 |
16_2012_Equity_Incentive_Plan_7
(16) 2012 Equity Incentive Plan: Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Weighted Average Number of Shares, Restricted Stock | 49,378 |
Outstanding at end of period | ' |
Weighted Average Number of Shares, Restricted Stock | 42,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 16.75 |
Restricted stock issued | ' |
Weighted Average Number of Shares, Restricted Stock | 42,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 16.75 |
16_2012_Equity_Incentive_Plan_8
(16) 2012 Equity Incentive Plan: Restricted stock expense (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Details | ' |
Nonvested restricted stock unrecognized compensation expense | $688 |
17_Fair_Value_Measurements_Fai1
(17) Fair Value Measurements: Fair Value Measurements, Nonrecurring (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
One- to Four-Family Real Estate Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | $2,866 | $2,160 |
Home Equity Line of Credit | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 278 | 256 |
Consumer Credit Card Financing Receivable | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 45 | 38 |
Total Fair Value | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 3,189 | 2,506 |
Real Estate Lot Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 52 | ' |
Fair Value, Inputs, Level 3 | One- to Four-Family Real Estate Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 2,866 | 2,160 |
Fair Value, Inputs, Level 3 | Home Equity Line of Credit | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 278 | 256 |
Fair Value, Inputs, Level 3 | Consumer Credit Card Financing Receivable | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 45 | 38 |
Fair Value, Inputs, Level 3 | Total Fair Value | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 3,189 | 2,506 |
Fair Value, Inputs, Level 3 | Real Estate Lot Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 52 | ' |
Total Losses | One- to Four-Family Real Estate Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 179 | 308 |
Total Losses | Home Equity Line of Credit | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 31 | 158 |
Total Losses | Consumer Credit Card Financing Receivable | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 9 | 6 |
Total Losses | Total Fair Value | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 219 | 693 |
Total Losses | Real Estate Lot Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 221 | ' |
Losses Recorded During the Period | One- to Four-Family Real Estate Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 128 | 232 |
Losses Recorded During the Period | Home Equity Line of Credit | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 8 | 112 |
Losses Recorded During the Period | Consumer Credit Card Financing Receivable | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 3 | 6 |
Losses Recorded During the Period | Total Fair Value | ' | ' |
Fair Value Impaired Collateral Dependent Loans | 139 | 453 |
Losses Recorded During the Period | Real Estate Lot Loans | ' | ' |
Fair Value Impaired Collateral Dependent Loans | $103 | ' |
17_Fair_Value_Measurements_Sch1
(17) Fair Value Measurements: Schedule of Fair Value of Foreclosed Assets (Details) (Foreclosed Assets, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value of Foreclosed Assets | $724 | $1,878 |
Fair Value, Inputs, Level 3 | ' | ' |
Fair Value of Foreclosed Assets | 724 | 1,878 |
Total Losses | ' | ' |
Fair Value of Foreclosed Assets | 44 | 137 |
Losses Recorded During the Period | ' | ' |
Fair Value of Foreclosed Assets | $22 | $95 |
18_Regulatory_Matters_Schedule1
(18) Regulatory Matters: Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total Capital to Risk-Weighted Assets | ' | ' |
Capital | $19,104 | $18,406 |
Capital to Risk Weighted Assets | 21.53% | 20.96% |
Capital Required for Capital Adequacy | 7,097 | 7,027 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | 8,872 | 8,783 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier 1 Capital to Risk-Weighted Assets | ' | ' |
Capital | 17,993 | 17,302 |
Capital to Risk Weighted Assets | 20.28% | 19.70% |
Capital Required for Capital Adequacy | 3,549 | 3,514 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Capital Required to be Well Capitalized | 5,323 | 5,270 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier 1 Capital to Total Assets | ' | ' |
Capital | 17,993 | 17,302 |
Capital to Risk Weighted Assets | 12.67% | 11.96% |
Capital Required for Capital Adequacy | 5,681 | 5,787 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Capital Required to be Well Capitalized | $7,102 | $7,235 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 5.00% | 5.00% |
19_Parent_Company_Only_Financi4
(19) Parent Company Only Financial Information: Schedule of Condensed Balance Sheet (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred income taxes (benefit) | $156 | ($348) |
Other assets | 1,069 | 1,259 |
Total assets | 146,502 | 147,440 |
Other liabilities | 363 | 372 |
Total stockholders' equity | 23,714 | 24,935 |
Total liabilities and stockholders' equity | 146,502 | 147,440 |
Parent Company Only | Assets | ' | ' |
Cash | 2,162 | 4,761 |
Investments in Subsidiary | 20,540 | 20,030 |
Bank Loans | 972 | ' |
Deferred income taxes (benefit) | 57 | 26 |
Other assets | ' | 119 |
Total assets | 23,731 | 24,936 |
Parent Company Only | Liabilities and Stockholders' Equity | ' | ' |
Other liabilities | 17 | 1 |
Total stockholders' equity | 23,714 | 24,935 |
Total liabilities and stockholders' equity | $23,731 | $24,936 |
19_Parent_Company_Only_Financi5
(19) Parent Company Only Financial Information: Schedule of Condensed Income Statement (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income tax benefit | $181 | ($348) |
Net income (loss) | 385 | -528 |
Parent Company Only | ' | ' |
Revenues | 47 | 49 |
Other Expenses | -136 | -100 |
(Loss) earnings before loss of subsidiary | -89 | -51 |
Net loss of subsidiary | 443 | -515 |
Income (loss) before income tax benefit | 354 | -566 |
Income tax benefit | -31 | -38 |
Net income (loss) | $385 | ($528) |
19_Parent_Company_Only_Financi6
(19) Parent Company Only Financial Information: Schedule of Condensed Cash Flow Statement (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Net income (loss) | $385 | ($528) |
ESOP compensation expense | 47 | 76 |
Net cash provided by operating activities | 1,847 | 1,050 |
Net cash (used in) provided by financing activities | -1,366 | 2,246 |
Parent Company Only | ' | ' |
Net income (loss) | 385 | -528 |
Cash, Period Increase (Decrease) | -2,599 | -15 |
Parent Company Only | Beginning balance | ' | ' |
Cash | 4,761 | 4,776 |
Parent Company Only | Ending balance | ' | ' |
Cash | 2,162 | 4,761 |
Parent Company Only | Cash flows from operating activities | ' | ' |
Net income (loss) | 385 | -528 |
Net cash provided by operating activities | 137 | -15 |
Parent Company Only | Adjustments to reconcile net loss to net cash used in operating activities | ' | ' |
ESOP compensation expense | 47 | 76 |
Increase (decrease) in investment in subsidiary due to ESOP compensation | 44 | ' |
Deferred Tax Liabilities, Gross | -31 | -26 |
Increase (Decrease) in Other Operating Assets | 119 | -42 |
Increase (Decrease) in Other Operating Liabilities | 16 | -10 |
Equity in undistributed loss of subsidiary | -443 | 515 |
Parent Company Only | Cash flows used in investing activity | ' | ' |
Loan purchase, net of repayments | -972 | ' |
Parent Company Only | Cash flows from financing activities | ' | ' |
Stock Repurchased During Period, Value | -1,764 | ' |
Net cash (used in) provided by financing activities | -1,764 | ' |
Parent Company Only | Supplemental disclosure of cash flow information -- Noncash transactions | ' | ' |
Stock based compensation expense of subsidiary | $111 | $2 |