Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 28, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Park Sterling Corp | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 44,739,799 | ||
Entity Public Float | $269,605,107 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1507277 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $16,549 | $13,087 |
Interest-earning balances at banks | 34,356 | 41,680 |
Federal funds sold | 485 | 300 |
Investment securities available-for-sale, at fair value | 375,683 | 349,491 |
Investment securities held-to-maturity (fair value of $117,627 and $51,334 at December 31, 2014 and 2013, respectively) | 115,741 | 51,972 |
Nonmarketable equity securities | 11,532 | 5,905 |
Loans held for sale | 11,602 | 2,430 |
Loans: | ||
Non-covered | 1,538,354 | 1,224,674 |
Covered | 42,339 | 71,134 |
Less allowance for loan losses | -8,262 | -8,831 |
Net loans | 1,572,431 | 1,286,977 |
Premises and equipment, net | 59,247 | 55,923 |
Bank-owned life insurance | 57,712 | 47,832 |
Deferred tax asset | 35,623 | 36,318 |
Other real estate owned - noncovered | 8,979 | 9,404 |
Other real estate owned - covered | 3,011 | 5,088 |
Goodwill | 29,240 | 26,457 |
FDIC indemnification asset | 3,964 | 10,025 |
Core deposit intangible | 10,960 | 8,629 |
Accrued interest receivable | 4,467 | 4,222 |
Other assets | 7,648 | 5,087 |
Total assets | 2,359,230 | 1,960,827 |
Deposits: | ||
Noninterest-bearing | 321,019 | 255,861 |
Interest-bearing | 1,530,335 | 1,344,024 |
Total deposits | 1,851,354 | 1,599,885 |
Short-term borrowings | 125,000 | 35,996 |
Long-term borrowings | 55,000 | 20,000 |
Subordinated debt | 23,583 | 22,052 |
Accrued interest payable | 398 | 412 |
Accrued expenses and other liabilities | 28,790 | 20,362 |
Total liabilities | 2,084,125 | 1,698,707 |
Commitments (Notes 15 and 16) | ||
Shareholders' equity: | ||
Preferred stock, no par value 5,000,000 shares authorized; 0 issued and outstanding at December 31, 2014 and 2013, respectively | 0 | 0 |
Common stock, $1.00 par value 200,000,000 shares authorized; 44,859,798 and 44,730,669 shares issued and outstanding at December 31, 2014 and 2013, respectively | 44,860 | 44,731 |
Additional paid-in capital | 222,819 | 222,596 |
Accumulated earnings (deficit) | 8,901 | -405 |
Accumulated other comprehensive loss | -1,475 | -4,802 |
Total shareholders' equity | 275,105 | 262,120 |
Total liabilities and shareholders' equity | $2,359,230 | $1,960,827 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Investment securities held-to-maturity, fair value (in Dollars) | $117,627 | $51,334 |
Preferred stock, par value (in Dollars per share) | $0 | $0 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $1 | $1 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares outstanding | 44,859,798 | 44,730,669 |
Common stock, shares issued | 44,859,798 | 44,730,669 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income | |||
Loans, including fees | $74,867 | $72,669 | $53,194 |
Federal funds sold | 1 | 24 | 49 |
Taxable investment securities | 9,318 | 5,029 | 3,606 |
Tax-exempt investment securities | 631 | 756 | 750 |
Nonmarketable equity securities | 362 | 150 | 194 |
Interest on deposits at banks | 118 | 177 | 153 |
Total interest income | 85,297 | 78,805 | 57,946 |
Interest expense | |||
Money market, NOW and savings deposits | 2,270 | 1,570 | 1,488 |
Time deposits | 3,155 | 2,538 | 2,951 |
Short-term borrowings | 86 | 7 | 11 |
Long-term borrowings | 513 | 550 | 600 |
Subordinated debt | 1,631 | 1,717 | 1,520 |
Total interest expense | 7,655 | 6,382 | 6,570 |
Net interest income | 77,642 | 72,423 | 51,376 |
Provision for loan losses | -1,286 | 746 | 2,023 |
Net interest income after provision for loan losses | 78,928 | 71,677 | 49,353 |
Noninterest income | |||
Service charges on deposit accounts | 3,881 | 2,646 | 1,814 |
Income from fiduciary activities | 2,748 | 2,779 | 2,332 |
Commissions and fees from investment brokerage | 452 | 419 | 287 |
Gain on sale of securities available-for-sale | 180 | 98 | 1,478 |
Bankcard services income | 2,632 | 2,373 | 1,085 |
Mortgage banking income | 2,641 | 3,123 | 2,478 |
Income from bank-owned life insurance | 2,688 | 1,863 | 1,264 |
Amortization of indemnification asset | -3,203 | -189 | |
Loss share true-up liability expense | -587 | -59 | |
Other noninterest income | 2,521 | 2,033 | 634 |
Total noninterest income | 13,953 | 15,086 | 11,372 |
Noninterest expense | |||
Salaries and employee benefits | 39,538 | 34,570 | 29,396 |
Occupancy and equipment | 10,409 | 7,691 | 4,654 |
Advertising and promotion | 1,494 | 839 | 781 |
Legal and professional fees | 3,486 | 3,142 | 3,190 |
Deposit charges and FDIC insurance | 1,491 | 1,647 | 1,250 |
Data processing and outside service fees | 6,449 | 5,950 | 4,371 |
Communication fees | 1,974 | 1,737 | 945 |
Core deposit intangible amortization | 1,269 | 1,029 | 564 |
Net cost (earnings) of operation of other real estate owned | 817 | -371 | 3,462 |
Loan and collection expense | 1,350 | 1,972 | 1,221 |
Postage and supplies | 667 | 1,009 | 791 |
Other noninterest expense | 4,990 | 4,884 | 3,451 |
Total noninterest expense | 73,934 | 64,099 | 54,076 |
Income before income taxes | 18,947 | 22,664 | 6,649 |
Income tax expense | 6,058 | 7,359 | 2,306 |
Net income | 12,889 | 15,305 | 4,343 |
Preferred dividends | 353 | 51 | |
Net income to common shareholders | $12,889 | $14,952 | $4,292 |
Basic earnings per common share (in Dollars per share) | $0.29 | $0.34 | $0.12 |
Diluted earnings per common share (in Dollars per share) | $0.29 | $0.34 | $0.12 |
Weighted-average common shares outstanding | |||
Basic (in Shares) | 43,924,457 | 43,965,408 | 35,101,407 |
Diluted (in Shares) | 44,247,000 | 44,053,253 | 35,108,229 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net income | $12,889 | $15,305 | $4,343 |
Securities available for sale and transferred securities: | |||
Change in net unrealized gains (losses) during the period | 10,464 | -13,200 | 1,908 |
Change in net unrealized loss on securities transferred to held to maturity | -2,055 | ||
Reclassification adjustment for net gains recognized in net income | -180 | -98 | -1,478 |
Total securities available for sale and transferred securities | 8,229 | -13,298 | 430 |
Derivatives: | |||
Change in the accumulated gain (loss) on effective cash flow hedge derivatives | -3,381 | 545 | |
Reclassification adjustment for interest payments | 422 | ||
Total derivatives | -2,959 | 545 | |
Other comprehensive income (loss), before tax | 5,270 | -12,753 | 430 |
Deferred tax expense (benefit) related to other comprehensive income | 1,943 | -4,753 | 112 |
Other comprehensive income (loss), net of tax | 3,327 | -8,000 | 318 |
Total comprehensive income | $16,216 | $7,305 | $4,661 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2011 | $0 | $32,644 | $172,390 | ($17,860) | $2,880 | $190,054 |
Balance (in Shares) at Dec. 31, 2011 | 0 | 32,643,627 | ||||
Shares issued (in Shares) | 20,500 | |||||
Shares of preferred stock issued | 20,500 | 20,500 | ||||
Shares of preferred stock issued (in Shares) | 20,500 | |||||
Issuance of restricted stock grants | 78 | -78 | ||||
Issuance of restricted stock grants (in Shares) | 78,000 | 78,000 | ||||
Share-based compensation expense | 2,012 | 2,012 | ||||
Shares issued for Citizens South merger | 11,857 | 46,721 | 58,578 | |||
Shares issued for Citizens South merger (in Shares) | 11,857,226 | |||||
Common stock repurchased | -3 | -12 | -15 | |||
Common stock repurchased (in Shares) | -3,000 | -3,000 | ||||
Dividends on preferred stock | -51 | -51 | ||||
Net income | 4,343 | 4,343 | ||||
Other comprehensive gain (loss) | 318 | 318 | ||||
Balance at Dec. 31, 2012 | 20,500 | 44,576 | 221,033 | -13,568 | 3,198 | 275,739 |
Balance (in Shares) at Dec. 31, 2012 | 20,500 | 44,575,853 | ||||
Redemption of preferred stock | -20,500 | -20,500 | ||||
Redemption of preferred stock (in Shares) | -20,500 | |||||
Issuance of restricted stock grants | 174 | -174 | ||||
Issuance of restricted stock grants (in Shares) | 174,000 | 174,000 | ||||
Forfeitures of restricted stock grants | -23 | 23 | ||||
Forfeitures of restricted stock grants (in Shares) | -23,860 | |||||
Exercise of stock options | 60 | 248 | 308 | |||
Exercise of stock options (in Shares) | 60,943 | 60,943 | ||||
Share-based compensation expense | 1,776 | 1,776 | ||||
Common stock repurchased | -56 | -310 | -366 | |||
Common stock repurchased (in Shares) | -56,267 | -56,267 | ||||
Dividends on preferred stock | -353 | -353 | ||||
Dividends on common stock | -1,789 | -1,789 | ||||
Net income | 15,305 | 15,305 | ||||
Other comprehensive gain (loss) | -8,000 | -8,000 | ||||
Balance at Dec. 31, 2013 | 44,731 | 222,596 | -405 | -4,802 | 262,120 | |
Balance (in Shares) at Dec. 31, 2013 | 44,730,669 | |||||
Shares issued (in Shares) | 252 | |||||
Shares of preferred stock issued (in Shares) | 252 | |||||
Issuance of restricted stock grants | 239 | -239 | ||||
Issuance of restricted stock grants (in Shares) | 238,613 | 238,613 | ||||
Forfeitures of restricted stock grants | -7 | 7 | ||||
Forfeitures of restricted stock grants (in Shares) | -7,250 | |||||
Exercise of stock options | 54 | 196 | 250 | |||
Exercise of stock options (in Shares) | 54,199 | 54,199 | ||||
Share-based compensation expense | 1,129 | 1,129 | ||||
Common stock repurchased | -157 | -870 | -1,027 | |||
Common stock repurchased (in Shares) | -156,685 | -136,743 | ||||
Dividends on common stock | -3,583 | -3,583 | ||||
Net income | 12,889 | 12,889 | ||||
Other comprehensive gain (loss) | 3,327 | 3,327 | ||||
Balance at Dec. 31, 2014 | $0 | $44,860 | $222,819 | $8,901 | ($1,475) | $275,105 |
Balance (in Shares) at Dec. 31, 2014 | 0 | 44,859,798 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash flows from operating activities | |||
Net income | $12,889,000 | $15,305,000 | $4,343,000 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | |||
Accretion on acquired loans | -9,323,000 | -8,513,000 | -7,462,000 |
Net amortization (accretion) on investments | 2,190,000 | 564,000 | -2,425,000 |
Other depreciation and amortization, net | 9,983,000 | 4,928,000 | 3,403,000 |
Provision for loan losses | -1,286,000 | 746,000 | 2,023,000 |
Share-based compensation expense | 1,129,000 | 1,776,000 | 2,012,000 |
Deferred income taxes | 5,208,000 | 8,460,000 | 2,255,000 |
Amortization (accretion) of FDIC indemnification asset | 3,203,000 | 189,000 | |
Net gains on sales of investment securities available-for-sale | -180,000 | -98,000 | -1,478,000 |
Net gains on sales of loans held for sale | -1,134,000 | -1,835,000 | -1,182,000 |
Net (gains) losses on disposals of premises and equipment | 400,000 | 412,000 | -94,000 |
Net gains on sales of other real estate owned | -532,000 | -2,061,000 | -253,000 |
Writedowns of other real estate owned | 604,000 | 1,394,000 | 2,421,000 |
Income from bank owned life insurance | -2,688,000 | -1,863,000 | -1,264,000 |
Proceeds of loans held for sale | 58,761,000 | 110,118,000 | 71,855,000 |
Disbursements for loans held for sale | -66,409,000 | -96,566,000 | -78,053,000 |
Change in assets and liabilities: | |||
Increase in FDIC indemnification asset | -793,000 | -1,444,000 | -926,000 |
(Increase) decrease in accrued interest receivable | 500,000 | -401,000 | 1,381,000 |
(Increase) decrease in other assets | -1,623,000 | 4,176,000 | -5,258,000 |
Decrease in accrued interest payable | -1,575,000 | -104,000 | -1,433,000 |
Increase (decrease) in accrued expenses and other liabilities | 4,548,000 | -2,424,000 | 6,055,000 |
Net cash provided (used) by operating activities | 13,872,000 | 32,759,000 | -4,080,000 |
Cash flows from investing activities | |||
Net (increase) decrease in loans | -182,401,000 | 53,294,000 | 78,196,000 |
Purchases of premises and equipment | -4,591,000 | -2,625,000 | -4,845,000 |
Proceeds from disposals of premises and equipment | 138,000 | 1,650,000 | 221,000 |
Purchases of investment securities available-for-sale | -165,027,000 | -191,521,000 | -31,115,000 |
Purchases of investment securities held-to-maturity | -10,447,000 | -52,178,000 | |
Proceeds from sales of investment securities available-for-sale | 161,434,000 | 28,128,000 | 46,367,000 |
Proceeds from maturities and call of investment securities available-for-sale | 49,206,000 | 45,412,000 | 43,998,000 |
Proceeds from maturities and call of investment securities held-to-maturity | 5,127,000 | 503,000 | |
Proceeds from life insurance death benefit | 1,081,000 | 0 | 0 |
FDIC reimbursement of recoverable covered asset losses | 3,651,000 | 9,720,000 | 3,698,000 |
Proceeds from sale of other real estate owned | 14,200,000 | 21,455,000 | 13,096,000 |
Net (purchases) redemptions of nonmarketable equity securities | -2,679,000 | 1,517,000 | 6,079,000 |
Acquisitions, net of cash paid | 59,045,000 | 24,283,000 | |
Net cash provided (used) by investing activities | -71,263,000 | -84,645,000 | 179,978,000 |
Cash flows from financing activities | |||
Net decrease in deposits | -12,860,000 | -30,342,000 | -42,933,000 |
Advances (repayments) of short-term borrowings | 84,244,000 | -9,147,000 | -7,300,000 |
Advances (repayments) of long-term borrowings | -13,310,000 | -15,000,000 | 30,000,000 |
Redemption of preferred stock | -20,500,000 | ||
Exercise of stock options | 250,000 | 308,000 | |
Repurchase of common stock | -1,027,000 | -366,000 | -15,000 |
Dividends on common stock | -3,583,000 | -1,789,000 | |
Dividends on preferred stock | -353,000 | -51,000 | |
Net cash provided (used) by financing activities | 53,714,000 | -77,189,000 | -20,299,000 |
Net increase (decrease) in cash and cash equivalents | -3,677,000 | -129,075,000 | 155,599,000 |
Cash and cash equivalents, beginning | 55,067,000 | 184,142,000 | 28,543,000 |
Cash and cash equivalents, ending | 51,390,000 | 55,067,000 | 184,142,000 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 7,669,000 | 6,486,000 | 7,615,000 |
Cash paid for income taxes | 701,000 | 240,000 | 94,000 |
Supplemental disclosure of noncash investing and financing activities: | |||
Change in unrealized gain (loss) on available-for-sale securities, net of tax | 5,176,000 | -8,343,000 | 318,000 |
Change in unrealized gain (loss) on cash flow hedge, net of tax | -1,849,000 | 343,000 | |
Transfer from other assets to investment securities available-for-sale | 1,393,000 | ||
Loans transferred to other real estate owned | 8,806,000 | 10,207,000 | 11,896,000 |
Transfer from securities available-for-sale to held-to-maturity | $58,972,000 |
Note_1_Organization_and_Operat
Note 1 - Organization and Operations | 12 Months Ended | ||
Dec. 31, 2014 | |||
Disclosure Text Block [Abstract] | |||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 – ORGANIZATION AND OPERATIONS | ||
Park Sterling Corporation (the “Company”) was formed in 2010 to serve as the holding company for Park Sterling Bank (the “Bank”) pursuant to a bank holding company reorganization effective January 1, 2011, and is registered with the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Bank is a North Carolina-chartered commercial nonmember bank that was incorporated in September 2006 and opened for business at 1043 E. Morehead Street, Suite 201, Charlotte, North Carolina on October 25, 2006. At December 31, 2014, the Company’s primary operations and business were that of owning the Bank. Prior to January 1, 2011, the Company conducted no operations other than obtaining regulatory approval for the holding company reorganization. The main office of both the Company and the Bank is located at 1043 E. Morehead Street, Suite 201, Charlotte, North Carolina, 28204, and its phone number is (704) 716-2134. | |||
In August 2010, the Bank raised gross proceeds of $150 million in an equity offering (the “Public Offering”), to facilitate a change in the Bank’s business plan from primarily organic growth at a moderate pace to creating a regional community bank through a combination of mergers and acquisitions and accelerated organic growth. Consistent with this growth strategy, over the past several years the Bank has opened additional branches in North Carolina and South Carolina and in 2014 expanded into the Virginia market through the opening of a loan production office, followed by the opening of a full-service branch, in Richmond, Virginia. In addition, since the Public Offering, the Company has completed the following acquisitions of community banks in its existing or targeted markets: | |||
● | In May 2014, the Company acquired Provident Community Bancshares, Inc. (“Provident Community”), the parent company of Provident Community Bank, N.A., which operated nine branches in South Carolina. | ||
● | In October 2012, the Company acquired Citizens South Banking Corporation (“Citizens South”), the parent company of Citizens South Bank, which operated 21 branches in North Carolina, South Carolina and North Georgia. | ||
● | In November 2011, the Company acquired Community Capital Corporation (“Community Capital”), the parent company of CapitalBank, which operated 18 branches in the Upstate and Midlands area of South Carolina. | ||
Each of these banks has merged into the Bank. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Significant Accounting Policies [Text Block] | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Basis of Presentation - The accounting and reporting policies of the Company conform with United States generally accepted accounting principles ("GAAP") and prevailing practices within the banking industry. The consolidated financial statements include the accounts of the Bank and the Company. The Company evaluates subsequent events through the date of filing of the consolidated financial statements with the Securities and Exchange Commission (“SEC”). | |||||||||||||
Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the 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 relate to the determination of the allowance for loan losses, nonaccretable discounts, purchase accounting accretion adjustments, realization of deferred tax assets and the fair value of financial instruments and other accounts. | |||||||||||||
Segments - The Company, through the Bank, provides a broad range of financial services to individuals and companies. These services include personal, business and non-profit checking accounts, IOLTA accounts, individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, safe deposit boxes and online and mobile banking. Lending activities include a range of short-to medium-term commercial (including asset-based lending), real estate, construction, residential mortgage and home equity and consumer loans, as well as long-term residential mortgages. Wealth management activities include investment management, personal trust services, and investment brokerage services. Cash management activities include remote deposit capture, lockbox services, sweep accounts, purchasing cards, ACH and wire payments. Capital markets activities include interest rate and currency risk management products, loan syndications and debt placements. While the Company's decision makers monitor the revenue streams of the various financial products and services, operations are managed and financial performance is evaluated on an organization-wide basis. Accordingly, the Company's banking and finance operations are not considered by management to constitute more than one reportable operating segment. | |||||||||||||
Reclassifications - Certain noninterest income reported in the prior year financial statements have been reclassified to conform to the 2014 presentation. Reclassifications include amortization of indemnification asset and loss share true-up liability expense previously disclosed in other noninterest income which are now reported as separate line items. The reclassification had no effect on net income, comprehensive income or shareholders’ equity as previously reported. | |||||||||||||
Business Combinations, Method of Accounting for Loans Acquired, and Federal Deposit Insurance Corporation (the “FDIC”) Indemnification Asset – Generally, acquisitions are accounted for under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations. A business combination occurs when the Company acquires net assets that constitute a business, or acquires equity interests in one or more other entities that are businesses and obtains control over those entities. Business combinations are effected through the transfer of consideration consisting of cash and/or common stock and are accounted for using the acquisition method. Accordingly, the assets and liabilities of the acquired entity are recorded at their respective fair values as of the closing date of the acquisition. Determining the fair value of assets and liabilities, especially the loan portfolio, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as information relative to closing date fair values becomes available. The results of operations of an acquired entity are included in our consolidated results from the closing date of the merger, and prior periods are not restated. No allowance for loan losses related to the acquired loans is recorded on the acquisition date because the fair value of the loans acquired incorporates assumptions regarding future credit losses. Loans acquired are recorded at fair value exclusive of any loss share agreements with the FDIC. The fair value estimates associated with the acquired loans include estimates related to expected prepayments and the amount and timing of expected principal, interest and other cash flows. | |||||||||||||
In connection with an acquisition the Company may assume purchase and assumption agreements that the acquired institution entered into with the FDIC, providing for loss share agreements related to the covered assets. The Bank records an estimated receivable from the FDIC in connection with such loss share agreements. The FDIC indemnification asset is measured separately from the related covered assets as it is not contractually embedded in the assets and is not transferable with the assets, without approval of the FDIC, should the Company choose to dispose of them. Fair value is estimated at the acquisition date using projected cash flows related to the loss sharing agreements based on the expected reimbursements for losses and the applicable loss sharing percentages. These expected reimbursements do not include reimbursable amounts related to future covered expenditures. These cash flows are discounted to reflect the uncertainty of the timing and receipt of the loss sharing reimbursement from the FDIC. The Company will offset any recorded provision for loan losses related to acquired loans by recording an increase in the FDIC indemnification asset in an amount equal to the increase in expected cash flow, which is the result of a decrease in expected cash flow of acquired loans. An increase in expected cash flows on acquired loans results in a decrease in cash flows on the FDIC indemnification asset, which is recognized in the future as amortization through non-interest income over the lesser of the term of the loss share agreement or the life of the loan. | |||||||||||||
The Company incurs expenses related to the assets indemnified by the FDIC, and pursuant to the loss share agreements certain costs are reimbursable by the FDIC and are included in quarterly claims made by the Company. The estimates of reimbursements are netted against these covered expenses in the income statement. | |||||||||||||
Cash and Cash Equivalents - For the purpose of presentation in the statement of cash flows, cash and cash equivalents include cash and due from banks, interest-earning balances at banks and Federal funds sold. Generally, Federal funds sold are repurchased the following day. | |||||||||||||
Investment Securities - Investment securities available-for-sale are reported at fair value and consist of debt instruments that are not classified as trading securities or as held to maturity securities. Investment securities held-to-maturity are reported at amortized cost. Unrealized holding gains and losses, net of applicable taxes, on available-for-sale securities are reported as a net amount in other comprehensive income. Gains and losses on the sale of available-for-sale securities are determined using the specific-identification method and are recorded on a trade date basis. Declines in the fair value of individual available-for-sale securities below their amortized cost that are other than temporary impairments would result in write-downs of the individual securities to their fair value and would be included in earnings as realized losses. Premiums and discounts are recognized in interest income using the interest method over the period to maturity. | |||||||||||||
Nonmarketable Equity Securities – Nonmarketable equity securities include the costs of the Company’s investments in the stock of the Federal Home Loan Bank of Atlanta (“FHLB”). As a condition of membership, the Bank is required to hold stock in the FHLB. These securities do not have a readily determinable fair value as their ownership is restricted and there is no market for these securities. The Bank carries these nonmarketable equity securities at cost and periodically evaluates them for impairment. Management considers these nonmarketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. The primary factor supporting the carrying value of these securities is the commitment of the FHLB to perform its obligations, which includes providing credit and other services to the Bank. Upon request, the stock may be sold back to the FHLB, at cost. | |||||||||||||
The Company has invested in the stock of several unaffiliated financial institutions. The Company owns less than five percent of the outstanding shares of each institution, and the stocks either have no quoted market value or are not readily marketable. Also included in nonmarketable equity securities is the investment in CSBC Statutory Trust I, Community Capital Corporation Statutory Trust I, Provident Community Bancshares Capital Trust I and Provident Community Bancshares Capital Trust II. See Note 4 – Investments and Note 11 – Borrowings. | |||||||||||||
Loans Held for Sale – Loans intended for sale are carried at the lower of cost or estimated fair value in the aggregate. This includes, but may not be limited to, loans originated through the Company’s mortgage activities. Residential mortgage loans originated and intended for sale are comprised of accepting residential mortgage loan applications, qualifying borrowers to standards established by investors, funding residential mortgages and selling mortgages to investors under pre-existing commitments. | |||||||||||||
Loans –Loans originated by the Company and which management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balances adjusted for any direct principal charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans. Interest on originated loans is calculated by using the simple interest method on daily balances of the principal amount outstanding. Loan origination fees are capitalized and recognized as an adjustment of the yield of the related loan. See Note 5 – Loans. | |||||||||||||
Purchased Credit-Impaired (“PCI”) Loans - Purchased loans acquired in a business combination are recorded at estimated fair value on the date of acquisition without the carryover of the related allowance for loan losses. PCI loans are accounted for under the “Receivables” topic of the ASC when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the date of acquisition may include statistics such as internal risk grades and past due and nonaccrual status. Purchased impaired loans generally meet the Company’s definition for nonaccrual status. Any excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference, and is available to absorb credit losses on those loans. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows result in a reversal of the provision for loan losses to the extent of prior charges, or a reclassification of the nonaccretable difference with a positive impact on future interest income. For acquired loans subject to a loss sharing agreement with the FDIC, the FDIC indemnification asset will be adjusted prospectively in a similar, consistent manner with increases and decreases in expected cash flows limited to the term of the loss share agreements. | |||||||||||||
Purchased Performing Loans – The Company accounts for performing loans acquired in business combinations using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Purchased performing loans are recorded at fair value, including a credit discount. The fair value discount is accreted as an adjustment to yield over the estimated lives of the loans. There is no allowance for loan losses established at the acquisition date for purchased performing loans. A provision for loan losses is recorded for any further deterioration in these loans subsequent to the acquisition. | |||||||||||||
Nonperforming Loans – For all classes of loans, except PCI loans, loans are placed on non-accrual status upon becoming contractually past due 90 days or more as to principal or interest (unless they are adequately secured by collateral, are in the process of collection and are reasonably expected to result in repayment), when terms are renegotiated below market levels in response to a financially distressed borrower or guarantor, or where substantial doubt about full repayment of principal or interest is evident. | |||||||||||||
When a loan is placed on non-accrual status, the accrued and unpaid interest receivable is reversed and the loan is accounted for on the cash or cost recovery method until qualifying for return to accrual status. All payments received on non-accrual loans are applied against the principal balance of the loan. A loan may be returned to accrual status when all delinquent interest and principal become current in accordance with the terms of the loan agreement and when doubt about repayment is resolved. Generally, for all classes of loans, a charge-off is recorded when it is probable that a loss has been incurred and when it is possible to determine a reasonable estimate of the loss. | |||||||||||||
Impaired Loans – For all classes of loans, except PCI loans, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impaired loans may include all classes of nonaccrual loans and loans modified in a troubled debt restructuring ("TDR"). If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the interest rate implicit in the original agreement or at the fair value of collateral if repayment is expected solely from the collateral. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is probable, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |||||||||||||
Loans Modified in a TDR - Loans are considered to be a TDR if, for economic or legal reasons related to the borrower's financial condition, the Company makes certain concessions to the original contract terms related to amount, interest rate, amortization or maturity that it would not otherwise consider. Generally, a nonaccrual loan that has been modified in a TDR remains on nonaccrual status for a period of at least six months to demonstrate that the borrower is able to meet the terms of the modified loan. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower's ability to meet the revised payment schedule is uncertain, the loan remains on nonaccrual status. | |||||||||||||
Allowance for Loan Losses – The allowance for loan losses is based upon management's ongoing evaluation of the loan portfolio and reflects an amount considered by management to be its best estimate of known and inherent losses in the portfolio as of the balance sheet date. The determination of the allowance for loan losses involves a high degree of judgment and complexity. In making the evaluation of the adequacy of the allowance for loan losses, management considers current economic and market conditions, independent loan reviews performed periodically by third parties, portfolio trends and concentrations, delinquency information, management's internal review of the loan portfolio, internal historical loss rates and other relevant factors. While management uses the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, regulatory examiners may require the Company to recognize changes to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Although provisions have been established by loan segments based upon management's assessment of their differing inherent loss characteristics, the entire allowance for losses on loans, other than the portions related to PCI loans and specific reserves on impaired loans, is available to absorb further loan losses in any segment. Further information regarding the Company’s policies and methodology used to estimate the allowance for loan losses is presented in Note 5 – Loans. | |||||||||||||
Other Real Estate Owned (“OREO”) - Real estate acquired through, or in lieu of, loan foreclosure is held for sale and is recorded at fair value less estimated selling costs when acquired, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and further write-downs are made based on these valuations. Revenue and expenses from operations are included in other expense. | |||||||||||||
Premises and Equipment - Company premises and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets, which are generally 39.5 years for buildings and 3 to 7 years for furniture and equipment. Leasehold improvements are depreciated over the lesser of the term of the respective lease or the estimated useful lives of the improvements. Repairs and maintenance costs are charged to operations as incurred and additions and improvements to premises and equipment are capitalized. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gains or losses are reflected in current operations. | |||||||||||||
Goodwill andIntangible Assets - Intangible assets consist primarily of goodwill and core deposit intangibles that result from the acquisition of other banks. Core deposit intangibles represent the value of long-term deposit relationships acquired in these transactions. Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. | |||||||||||||
The goodwill impairment analysis is a two-step test. The first step, used to identify potential impairment, involves comparing the reporting unit’s estimated fair value to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, there is an indication of potential impairment and the second step is performed to measure the amount of impairment of goodwill assigned to that reporting unit. | |||||||||||||
If required, the second step involves calculating an implied fair value of goodwill for each reporting unit for which the first step indicated impairment. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, by measuring the excess of the estimated fair value of the reporting unit, as determined in the first step, over the aggregate estimated fair values of the individual assets, liabilities and identifiable intangibles as if the reporting unit was being acquired in a business combination. If the implied fair value of goodwill exceeds the carrying value of the goodwill assigned to the reporting unit, there is no impairment. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded for the excess. An impairment loss cannot exceed the carrying value of goodwill assigned to a reporting unit, and the loss establishes a new basis of goodwill. | |||||||||||||
In September 2011, the FASB issued ASU 2011-08, which gives entities the option of first performing a qualitative assessment to test goodwill for impairment on a reporting-unit-by-reporting-unit basis. If, after performing the qualitative assessment, an entity concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the entity would perform the two-step goodwill impairment test described in ASC 350. However, if, after applying the qualitative assessment, the entity concludes that it is not more likely than not that the fair value is less than the carrying amount, the two-step goodwill impairment test is not required. | |||||||||||||
The Company performed the qualitative assessment as outlined in ASU 2011-08 in assessing the carrying value of goodwill related to its acquisitions as of October 1, 2014, its annual test date, and determined that it was unlikely that the fair value was less than the carrying amount and that no further testing or impairment charge was necessary. Should the Company’s future earnings and cash flows decline and/or discount rates increase, an impairment charge to goodwill and other intangible assets may be required. There have been no events subsequent to the October 1, 2014 evaluation that caused the Company to perform an interim review of the carrying value of goodwill related to any of its acquisitions. | |||||||||||||
Core deposit intangibles are amortized over the estimated useful lives of the deposit accounts acquired (generally ten years on a straight line basis). | |||||||||||||
Investment in a Qualified Affordable Housing Project - The Company currently invests in the Community Affordable Housing Equity Corporation (“CAHEC”), a qualified affordable housing project. CAHEC assists in providing low-income housing and historic preservation in the United States. The Company assumed this investment in connection with the acquisition of Provident Community. As of December 31, 2014, the Company holds an investment of $508 thousand which is recorded in other assets on the balance sheet. There are no commitments or contingent commitments to provide additional capital. In connection with the investment in CAHEC, the Company recognized a net income tax benefit of approximately $10 thousand in income tax expense in the Consolidated Statement of Income for the year ended December 31, 2014. No impairment was recognized or identified for this investment at December 31, 2014. | |||||||||||||
Securities Sold Under Agreements to Repurchase – The Company sells certain securities under agreements to repurchase. The agreements are treated as collateralized financing transactions and the obligations to repurchase securities sold are reflected as a liability in the accompanying consolidated balance sheets. The dollar amount of the securities underlying the agreements remains in the asset accounts. | |||||||||||||
Advertising Costs - Advertising costs are expensed as incurred and advertising communication costs the first time the advertising takes place. The Company may establish accruals for anticipated advertising expenses within the course of a fiscal year. | |||||||||||||
Income Taxes - Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (excluding deferred tax assets and liabilities related to components of other comprehensive income). Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets generally is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. The Company is subject to U.S. Federal income tax as well as state and local income tax in several jurisdictions. Tax years 2011 through 2014 remain open to examination by the Federal taxing authority. Interest and penalties on income tax assessments or income tax refunds are recognized in the Consolidated Statements of Income as a component of noninterest expense. | |||||||||||||
Per Share Results - Basic and diluted earnings per common share are computed based on the weighted-average number of shares outstanding during each period. Diluted earnings per common share reflects the potential dilution that could occur if all dilutive stock options were exercised. | |||||||||||||
In 2012, the Company issued 78,000 restricted stock awards, and repurchased 3,000 shares of common stock in open market transactions pursuant to the stock repurchase program approved by the board of directors in November 2012. Also in 2012, the Company issued 11,857,226 shares of Common Stock in connection with the merger with Citizens South. In 2013, the Company issued 174,000 restricted stock awards, issued 60,943 shares pursuant to the exercise of stock options and repurchased 56,267 shares in open market transactions. In 2014, the Company issued 238,613 restricted stock awards, issued 54,199 shares pursuant to the exercise of stock options, repurchased 136,743 shares of Common Stock in open market transactions and acquired 19,942 shares in connection with satisfaction of tax withholding obligations on vested restricted stock. | |||||||||||||
Basic and diluted earnings per common share have been computed based upon net income as presented in the accompanying consolidated statements of income divided by the weighted-average number of common shares outstanding or assumed to be outstanding as summarized below in each case as of December 31,: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-average number of common shares outstanding excluding unvested restricted shares | 43,924,457 | 43,965,408 | 35,101,407 | ||||||||||
Effect of dilutive stock options and unvested shares | 322,543 | 87,845 | 6,822 | ||||||||||
Weighted-average number of common shares and dilutive potential common shares outstanding | 44,247,000 | 44,053,253 | 35,108,229 | ||||||||||
There were 1,927,740 outstanding stock options and 842,170 outstanding restricted shares that were anti-dilutive for the year ended December 31, 2014. There were 243,617 dilutive stock options and 78,925 dilutive restricted shares outstanding for the year ended December 31, 2014. There were 2,177,592 outstanding stock options and 730,514 outstanding restricted shares outstanding that were anti-dilutive for the year ended December 31, 2013. There were 47,959 dilutive stock options and 39,885 dilutive restricted shares outstanding for the year ended December 31, 2013. There were 3,118,891 outstanding stock options and 640,239 outstanding restricted shares outstanding that were anti-dilutive for the year ended December 31, 2012. There were 801 dilutive stock options and 6,021 dilutive restricted shares outstanding for the year ended December 31, 2012. See Note 20 – Employee and Director Benefit Plans for more information. | |||||||||||||
Share-Based Compensation - The Company may grant share-based compensation to employees, non-employee directors and other eligible parties in the form of stock options, restricted stock or other instruments. Share-based compensation expense is measured based on the fair value of the award at the date of grant and is charged to earnings on a straight-line basis over the requisite service period, which is currently up to seven years. The fair value of stock options is estimated at the date of grant using a Black-Scholes option pricing model and related assumptions. The amortization of share-based compensation is adjusted for actual forfeiture experience. The fair value of restricted stock awards, subject to share price performance vesting requirements, is estimated using a Monte Carlo simulation and related estimated assumptions for volatility and a risk free interest rate. | |||||||||||||
The compensation expense for share-based compensation plans was $1.1 million, $1.8 million and $2.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||
Derivative Financial Instruments and Hedging Activities - The Company utilizes interest rate swap agreements, considered to be cash flow hedges, as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of interest-bearing liabilities. Under the guidelines of ASC 815-10, “Derivatives and Hedging,” all derivative instruments are required to be carried at fair value on the balance sheet. | |||||||||||||
Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either a freestanding asset or liability, with a corresponding offset recorded in other comprehensive income within shareholders’ equity, net of tax. Amounts are reclassified from other comprehensive income to the income statement in the period or periods the hedged forecasted transaction affects earnings. Cash flows from cash flow hedges are classified in the same category as the cash flows from the items being hedged. Derivative gains and losses not effective in hedging the expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine the effectiveness of the cash flow hedge. If it is determined that a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. See Note 17 – Derivative Financial Instruments and Hedging Activities. | |||||||||||||
Fair value hedges are accounted for under ASC Topic 815 which requires that the method selected for assessing hedge effectiveness must be reasonable, be defined at the inception of the hedging relationship and be applied consistently throughout the hedging relationship. The Company uses the dollar-offset method for assessing effectiveness using the cumulative approach. The dollar-offset method compares the fair value of the hedging derivative with the fair value of the hedged exposure. The cumulative approach involves comparing the cumulative changes in the hedging derivative’s fair value to the cumulative changes in the hedged exposure’s fair value. The calculation of dollar offset is the change in clean fair value of the hedging derivative, divided by the change in fair value of the hedged exposure attributable to changes in the London InterBank Offered Rate (“LIBOR”) curve. To the extent that the cumulative change in fair value of the hedging derivative offsets from 80% to 125% of the cumulative change in fair value of the hedged exposure, the hedge will be deemed effective. The change in fair value of the hedging derivative and the change in fair value of the hedged exposure are recorded in earnings. Any hedge ineffectiveness is also reflected in current earnings. Cash flows from fair value hedges are classified in the same category as the cash flows from the items being hedged. | |||||||||||||
If a derivative instrument designated as a fair value hedge is terminated or the hedge designation removed, the difference between a hedged item’s then carrying amount and its face amount is recognized into income over the original hedge period. Likewise, if a derivative instrument designated as a cash flow hedge is terminated or the hedge designation removed, related amounts accumulated in other accumulated comprehensive income are reclassified into earnings over the original hedge period during which the hedged item affects income. | |||||||||||||
Recent Accounting Pronouncements – The following is a summary of recent authoritative pronouncements: | |||||||||||||
In January 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-01, "Investments --Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects". This update revises the criteria required to elect the measurement and presentation alternative under ASC 323-740 and simplifies the method of amortization of the investment for entities investing in flow-through limited liability entities that manage or invest in affordable housing projects qualifying for the low-income housing tax credit. The update allows entities that meet the required criteria to qualify to present the investment performance net of income tax expense to better represent the economics of the investment (rather than traditional investment accounting under the equity or cost method). If the entity qualifies for the measurement and presentation alternative, it may amortize the initial cost of the investment in proportion to the related tax credits received (the proportional allocation method). The amendments must be retrospectively applied for all periods presented. For public business entities this update is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company adopted this guidance as of December 31, 2014. The related disclosures can be found in Note 2- Summary of Significant Accounting Policies of these financial statements. | |||||||||||||
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)” (“ASU 2014-04”). ASU 2014-04 amended the Receivables—Troubled Debt Restructurings by Creditors subtopic of the ASC to address the reclassification of consumer mortgage loans collateralized by residential real estate upon foreclosure. The amendments clarify the criteria for concluding that an in-substance repossession or foreclosure has occurred, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The amendments also outline interim and annual disclosure requirements. The amendments will be effective for the Company for interim and annual reporting periods beginning after December 15, 2014. Companies are allowed to use either a modified retrospective transition method or a prospective transition method when adopting this update. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 changes the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of this guidance but does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures” (“ASU 2014-11”). ASU 2014-11 makes limited amendments to the guidance on accounting for certain repurchase agreements. The new guidance (1) requires entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), (2) eliminates accounting guidance on linked repurchase financing transactions, and (3) expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. The amendments will be effective for the Company for the first interim or annual period beginning after December 15, 2014. The Company is currently evaluating the impact of this guidance but does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period—a consensus of the FASB Emerging Issues Task Force” (“ASU 2014-12”). ASU 2014-12 clarifies that performance targets associated with stock compensation should be treated as a performance condition and should not be reflected in the grant date fair value of the stock award. The amendments will be effective for the Company for fiscal years that begin after December 15, 2015. The Company will apply the guidance to all stock awards granted or modified after the amendments are effective. The Company does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In August 2014, the FASB issued ASU 2014-14, "Receivables - Troubled Debt Restructurings by Creditors: Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure" (“ASU 2014-19”). This update addresses the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program. If certain criteria are met, the loan should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This update is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The update may be adopted either prospectively or on a modified retrospective basis. Early adoption is permitted, provided the entity has adopted ASU 2014-04. The Company is currently evaluating the impact of this guidance but does not expect these updates to have a material effect on its financial statements. |
Note_3_Business_Combinations
Note 3 - Business Combinations | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Business Combination Disclosure [Text Block] | NOTE 3 – BUSINESS COMBINATIONS | ||||||||||||
Provident Community Bancshares, Inc. | |||||||||||||
On May 1, 2014, Provident Community was merged with and into the Company, with the Company as the surviving entity, pursuant to the Agreement and Plan of Merger, dated as of March 4, 2014. Under the terms of the Agreement and Plan of Merger, each share of Provident Community common stock was cancelled and converted into the right to receive a cash payment from the Company equal to $0.78 per share, or approximately $1.4 million in the aggregate. In addition, immediately prior to completion of the merger, the Company purchased from the United States Department of the Treasury (“Treasury”) the issued and outstanding shares of Provident Community’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the “Provident Community Series A Preferred Stock”) and all of the related warrants to purchase shares of Provident Community’s common stock, for an aggregate purchase price of approximately $5.1 million (representing a 45% discount from face value). Thereafter, pursuant to the Agreement and Plan of Merger, the Provident Community Series A Preferred Stock and related warrants were cancelled in connection with the completion of the merger. Simultaneously with completion of the merger, Provident Community Bank, N.A. was merged into the Bank. | |||||||||||||
The assets acquired and liabilities assumed from Provident Community were recorded at their fair value as of the closing date of the merger. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. Goodwill of $3.4 million was initially recorded at the time of the acquisition. As a result of refinements to the fair value mark on loans, OREO, other assets and other liabilities, goodwill as indicated below is $2.8 million. The following table summarizes the consideration paid by the Company in the merger with Provident Community and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date: | |||||||||||||
As Recorded by | Fair Value and Other | ||||||||||||
Provident | Merger Related | As Recorded | |||||||||||
Community | Adjustments | by the Company | |||||||||||
Consideration Paid | |||||||||||||
Cash | $ | 1,397 | |||||||||||
Fair value of non-controlling interest | 5,096 | ||||||||||||
Fair Value of Total Consideration Transferred | $ | 6,493 | |||||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||||||||||
Cash and cash equivalents | $ | 65,538 | $ | - | $ | 65,538 | |||||||
Securities | 124,035 | - | 124,035 | ||||||||||
Nonmarketable equity securities | 2,948 | - | 2,948 | ||||||||||
Loans held for sale | 390 | - | 390 | ||||||||||
Loans, net of allowance | 112,412 | (6,797 | ) | 105,615 | |||||||||
Premises and equipment | 3,150 | 32 | 3,182 | ||||||||||
Core deposit intangibles | - | 3,600 | 3,600 | ||||||||||
Interest receivable | 748 | (3 | ) | 745 | |||||||||
Other real estate owned | 3,666 | (702 | ) | 2,964 | |||||||||
Bank owned life insurance | 8,536 | - | 8,536 | ||||||||||
Deferred tax asset | 1,628 | 4,828 | 6,456 | ||||||||||
Other assets | 1,438 | (218 | ) | 1,220 | |||||||||
Total assets acquired | $ | 324,489 | $ | 740 | $ | 325,229 | |||||||
Deposits | $ | 264,281 | $ | 177 | $ | 264,458 | |||||||
Federal Home Loan Bank advances | 37,500 | 3,915 | 41,415 | ||||||||||
Junior Subordinated Debt | 12,372 | (4,558 | ) | 7,814 | |||||||||
Short term borrowings | 4,760 | - | 4,760 | ||||||||||
Other liabilities | 2,087 | 985 | 3,072 | ||||||||||
Total liabilities assumed | $ | 321,000 | $ | 519 | $ | 321,519 | |||||||
Total identifiable assets | $ | 3,489 | $ | 221 | $ | 3,710 | |||||||
Goodwill resulting from acquisition | $ | 2,783 | |||||||||||
The following table discloses certain pro forma information as if Provident Community had been acquired on January 1, 2014 and January 1, 2013, respectively. These results combine the historical results of Provident Community in the Company’s consolidated statement of income and, while certain adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place on January 1, 2014, and January 1, 2013. In particular, no adjustments have been made to eliminate the amount of Provident Community provision for loan losses of $500 thousand in 2013 or the impact of OREO write-downs recognized by Provident Community in 2014 that may not have been necessary had the acquired loans and OREO been recorded at fair value as of the beginning of 2014 or 2013. Acquisition-related costs of $3.6 million included in the Company’s consolidated statement of income for the year ended December 31, 2014 are not included in the proforma information below. | |||||||||||||
Pro Forma | |||||||||||||
Years Ended | |||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||
Total revenues (net interest income plus other income) | $ | 93,139 | $ | 97,709 | |||||||||
Net income | $ | 9,549 | $ | 12,434 | |||||||||
Citizens South Banking Corporation | |||||||||||||
On October 1, 2012, Citizens South was merged with and into the Company, with the Company as the surviving legal entity, in accordance with an Agreement and Plan of Merger dated as of May 13, 2012. Under the terms of the Citizens South merger agreement, Citizens South stockholders received either $7.00 in cash or 1.4799 shares of the Company’s Common Stock for each Citizens South share they owned immediately prior to the merger, subject to the limitation that the total consideration paid in the merger would consist of 30% in cash and 70% in Common Stock. The Citizens South merger was structured to be tax-free to Citizens South stockholders with respect to the shares of Common Stock received in the merger and taxable with respect to the cash received in the merger. Cash was paid in lieu of fractional shares. The aggregate merger consideration consisted of 11,857,226 shares of Common Stock and $24.3 million in cash. Based on the $4.94 per share closing price of the Common Stock on September 28, 2012, the last trading date prior to consummation of the merger, the transaction value was $82.9 million. In addition, in connection with the merger, the preferred stock previously issued by Citizens South to the Treasury in connection with Citizens South’s participation in the Small Business Lending Fund (the “SBLF”) program was converted to 20,500 shares of a substantially identical newly created series of the Company’s preferred stock. See Note 14 – Preferred Stock for further discussion. Also in connection with the merger, the Company assumed certain loss share agreements with the FDIC related to prior acquisitions by Citizens South. See Note 6 – FDIC Loss Share Agreements. |
Note_4_Investments
Note 4 - Investments | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 4 – INVESTMENTS | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities available-for-sale and securities held-to-maturity, with gross unrealized gains and losses, at December 31 follows: | |||||||||||||||||||||||||
Amortized Cost and Fair Value of Investment Portfolio | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 508 | $ | 29 | $ | - | $ | 537 | |||||||||||||||||
Municipal securities | 11,955 | 896 | - | 12,851 | |||||||||||||||||||||
Residential agency pass-through securities | 144,955 | 2,156 | (96 | ) | 147,015 | ||||||||||||||||||||
Residential collateralized mortgage obligations | 144,773 | 625 | (1,318 | ) | 144,080 | ||||||||||||||||||||
Commercial mortgage-backed obligations | 4,974 | - | (106 | ) | 4,868 | ||||||||||||||||||||
Asset-backed securities | 61,833 | - | (783 | ) | 61,050 | ||||||||||||||||||||
Corporate and other securities | 3,328 | 242 | - | 3,570 | |||||||||||||||||||||
Equity securities | 1,250 | 462 | - | 1,712 | |||||||||||||||||||||
Total securities available-for-sale | $ | 373,576 | $ | 4,410 | $ | (2,303 | ) | $ | 375,683 | ||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | $ | 43,331 | $ | 1,123 | $ | - | $ | 44,454 | |||||||||||||||||
Residential collateralized mortgage obligations | 8,440 | 124 | - | 8,564 | |||||||||||||||||||||
Commercial mortgage-backed obligations | 60,783 | - | (2,041 | ) | 58,742 | ||||||||||||||||||||
Asset-backed securities | 5,978 | - | (111 | ) | 5,867 | ||||||||||||||||||||
Total securities held-to-maturity | $ | 118,532 | $ | 1,247 | $ | (2,152 | ) | $ | 117,627 | ||||||||||||||||
2013 | 1,202 | ||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 513 | $ | 45 | $ | - | $ | 558 | |||||||||||||||||
Municipal securities | 15,826 | 680 | - | 16,506 | |||||||||||||||||||||
Residential agency pass-through securities | 90,043 | 741 | (536 | ) | 90,248 | ||||||||||||||||||||
Residential collateralized mortgage obligations | 105,667 | 51 | (2,369 | ) | 103,349 | ||||||||||||||||||||
Commercial mortgage-backed obligations | 66,396 | - | (4,994 | ) | 61,402 | ||||||||||||||||||||
Asset-backed securities | 73,369 | 1 | (2,293 | ) | 71,077 | ||||||||||||||||||||
Corporate and other securities | 4,461 | - | (16 | ) | 4,445 | ||||||||||||||||||||
Equity securities | 1,393 | 513 | - | 1,906 | |||||||||||||||||||||
Total securities available-for-sale | $ | 357,668 | $ | 2,031 | $ | (10,208 | ) | $ | 349,491 | ||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | $ | 41,125 | $ | - | $ | (392 | ) | $ | 40,733 | ||||||||||||||||
Residential collateralized mortgage obligations | 4,982 | - | (74 | ) | 4,908 | ||||||||||||||||||||
Asset-backed securities | 5,865 | - | (172 | ) | 5,693 | ||||||||||||||||||||
Total securities held-to-maturity | $ | 51,972 | $ | - | $ | (638 | ) | $ | 51,334 | ||||||||||||||||
In 2014, commercial mortgage-backed securities (“MBS”) with a fair market value of $58.5 million were transferred from available-for-sale to held-to-maturity. These securities had an aggregate unrealized loss of $2.2 million ($1.5 million, net of tax) on the date of transfer. The net unamortized, unrealized loss on the transferred securities included in accumulated other comprehensive income in the accompanying balance sheet as of December 31, 2014 totaled $2.1 million. This amount will be amortized out of accumulated other comprehensive income over the remaining life of the underlying securities as an adjustment of the yield on those securities. As a result, the amortized cost of these investments of $60.8 million is higher than the $58.0 million carrying value of the securities as of December 31, 2014. There were no transfers of securities during the year ended December 31, 2013. | |||||||||||||||||||||||||
At December 31, 2014 and 2013, investment securities with a fair market value of $162.8 million and $99.5 million, respectively, were pledged to secure repurchase agreements, to secure public and trust deposits, to secure interest rate swaps, and for other purposes as required and permitted by law. | |||||||||||||||||||||||||
At December 31, 2014 and 2013, commercial mortgage-backed obligations include $56.8 million and $55.7 million, respectively, of delegated underwriting and servicing (“DUS”) bonds collateralized by multi-family properties and backed by an agency of the United States government, and $6.0 million and $5.7 million, respectively, of private-label securities collateralized by commercial properties. | |||||||||||||||||||||||||
At December 31, 2014 and 2013, asset-backed securities include a $6.0 million and $5.7 million, respectively, security that is equally collateralized by the Federal family education loan program and private student loan program. | |||||||||||||||||||||||||
The amortized cost and fair value of investment securities available-for-sale and held-to-maturity at December 31, 2014 and 2013 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. All of the Company’s residential agency-pass through securities and residential collateralized mortgage obligations are backed by an agency of the United States government. None of our residential agency-pass through securities and residential collateralized mortgage obligations are private-label securities. | |||||||||||||||||||||||||
Maturities of Investment Portfolio | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | |||||||||||||||||||||||||
Due after one year through five years | $ | 508 | $ | 537 | |||||||||||||||||||||
Municipal securities | |||||||||||||||||||||||||
Due after ten years | 11,955 | 12,851 | |||||||||||||||||||||||
Residential agency pass-through securities | |||||||||||||||||||||||||
Due after five years through ten years | 11,354 | 11,532 | |||||||||||||||||||||||
Due after ten years | 133,601 | 135,483 | |||||||||||||||||||||||
Residential collateralized mortgage obligations | |||||||||||||||||||||||||
Due after five years through ten years | 8,194 | 8,087 | |||||||||||||||||||||||
Due after ten years | 136,579 | 135,993 | |||||||||||||||||||||||
Commercial mortgage-backed obligations | |||||||||||||||||||||||||
Due after five years through ten years | 4,974 | 4,868 | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||
Due after ten years | 61,833 | 61,050 | |||||||||||||||||||||||
Corporate and other securities | |||||||||||||||||||||||||
Due after ten years | 3,328 | 3,570 | |||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||
Due after ten years | 1,250 | 1,712 | |||||||||||||||||||||||
Total securities available-for-sale | $ | 373,576 | $ | 375,683 | |||||||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | |||||||||||||||||||||||||
Due after ten years | $ | 43,331 | $ | 44,454 | |||||||||||||||||||||
Residential collateralized mortgage obligations | |||||||||||||||||||||||||
Due after ten years | 8,440 | 8,564 | |||||||||||||||||||||||
Commercial mortgage-backed obligations | |||||||||||||||||||||||||
Due after five years through ten years | 60,783 | 58,742 | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||
Due after ten years | 5,978 | 5,867 | |||||||||||||||||||||||
Total securities held-to-maturity | $ | 118,532 | $ | 117,627 | |||||||||||||||||||||
Sales of investment securities available-for-sale for the years ended December 31, 2014, 2013 and 2012 are as follows: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Proceeds from sales | $ | 161,434 | $ | 28,128 | $ | 46,367 | |||||||||||||||||||
Gross realized gains | 427 | 343 | 1,478 | ||||||||||||||||||||||
Gross realized losses | (247 | ) | (245 | ) | - | ||||||||||||||||||||
Management evaluates its investments quarterly for other than temporary impairment, relying primarily on industry analyst reports, observation of market conditions and interest rate fluctuations. The following table shows gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position for securities with unrealized losses at December 31, 2014 and 2013. None of the securities are deemed to be other than temporarily impaired since none of the unrealized losses relate to the marketability of the securities or the issuer’s ability to honor redemption obligations, as all but one of the bonds are issued by United States government agencies with the remaining bond being partially guaranteed by a government agency, and it is more likely than not that the Company will not have to sell the investments before recovery of their amortized cost basis. At December 31, 2014, there are 23 securities in a loss position for twelve months or more. At December 31, 2013, five securities were in a loss position for twelve months or more. | |||||||||||||||||||||||||
The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) amended the Bank Holding Company Act (the “BHC Act”) to require the federal banking regulatory agencies to adopt rules that prohibit banks and their affiliates from engaging in proprietary trading and investing in and sponsoring a covered fund (such as a hedge fund and or private equity fund), commonly referred to as the “Volcker Rule.” In December 2013, the federal banking regulatory agencies adopted a final rule construing the Volcker Rule, effective April 1, 2014. Banking entities have until July 21, 2016 (expected to be extended to July 21, 2017) to conform their activities to the requirements of the rule. At December 31, 2013, the Company held four investments in senior tranches of collateralized loan obligations with a fair value of $23.6 million which were included in asset-backed securities. The collateral eligibility language in one of the securities, with a fair value of $5.0 million, was amended during the fourth quarter of 2013 to comply with the new bank investment criteria under the Volcker Rule. The Company also sold one of the securities for a loss of $33 thousand. The Company’s investments in the remaining two securities, which had a net unrealized loss of $232,000 at December 31, 2014, currently would be prohibited under the Volcker Rule. The Company will determine any disposition plans for these securities as the documentation is, or is not, amended. Unless the documentation is amended to avoid inclusion within the rule’s prohibitions, the Company would have to recognize other-than-temporary-impairment with respect to these securities in conformity with GAAP rules. The Company held no other security types potentially affected by the Volcker Rule at December 31, 2014. | |||||||||||||||||||||||||
Investment Portfolio Gross Unrealized Losses and Fair Value | |||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | - | $ | - | $ | 3,857 | $ | (96 | ) | $ | 3,857 | $ | (96 | ) | |||||||||||
Residential collateralized mortgage obligations | 29,122 | (142 | ) | 48,824 | (1,176 | ) | 77,946 | (1,318 | ) | ||||||||||||||||
Commercial mortgage-backed obligations | - | - | 4,868 | (106 | ) | 4,868 | (106 | ) | |||||||||||||||||
Asset-backed securities | 38,528 | (296 | ) | 22,522 | (487 | ) | 61,050 | (783 | ) | ||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 67,650 | $ | (438 | ) | $ | 80,071 | $ | (1,865 | ) | $ | 147,721 | $ | (2,303 | ) | ||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential collateralized mortgage obligations | $ | - | $ | - | $ | 58,743 | $ | (2,041 | ) | $ | 58,743 | $ | (2,041 | ) | |||||||||||
Asset-backed securities | - | - | 5,867 | (111 | ) | 5,867 | (111 | ) | |||||||||||||||||
Total temporarily impaired held-to-maturity securities | $ | - | $ | - | $ | 64,610 | $ | (2,152 | ) | $ | 64,610 | $ | (2,152 | ) | |||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | 32,674 | $ | (536 | ) | $ | - | $ | - | $ | 32,674 | $ | (536 | ) | |||||||||||
Residential collateralized mortgage obligations | 55,856 | (1,687 | ) | 18,167 | (682 | ) | 74,023 | (2,369 | ) | ||||||||||||||||
Commercial mortgage-backed obligations | 42,391 | (3,247 | ) | 19,011 | (1,747 | ) | 61,402 | (4,994 | ) | ||||||||||||||||
Asset-backed securities | 56,106 | (2,236 | ) | 4,986 | (57 | ) | 61,092 | (2,293 | ) | ||||||||||||||||
Corporate and other securities | 3,945 | (16 | ) | - | - | 3,945 | (16 | ) | |||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 190,972 | $ | (7,722 | ) | $ | 42,164 | $ | (2,486 | ) | $ | 233,136 | $ | (10,208 | ) | ||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | 40,733 | $ | (392 | ) | $ | - | $ | - | $ | 40,733 | $ | (392 | ) | |||||||||||
Residential collateralized mortgage obligations | 4,908 | (74 | ) | - | - | 4,908 | (74 | ) | |||||||||||||||||
Asset-backed securities | 5,693 | (172 | ) | - | - | 5,693 | (172 | ) | |||||||||||||||||
Total temporarily impaired held-to-maturity securities | $ | 51,334 | $ | (638 | ) | $ | - | $ | - | $ | 51,334 | $ | (638 | ) | |||||||||||
The Company has nonmarketable equity securities consisting of investments in several unaffiliated financial institutions, as well as the investments in four statutory trusts. These investments totaled $11.5 million and $5.9 million at December 31, 2014 and 2013, respectively. Included in these amounts was $10.1 million and $4.9 million of FHLB stock at December 31, 2014 and 2013, respectively. All nonmarketable equity securities were evaluated for impairment as of December 31, 2014 and 2013. The following factors have been considered in determining the carrying amount of FHLB stock: (1) management’s current belief that the Company has sufficient liquidity to meet all operational needs in the foreseeable future and would not need to dispose of the stock below recorded amounts, (2) management’s belief that the FHLB has the ability to absorb economic losses given the expectation that the FHLB has a high degree of government support and (3) redemptions and purchases of the stock are at the discretion of the FHLB. At December 31, 2014 and 2013, the Company estimated that the fair values of nonmarketable equity securities equaled or exceeded the cost of each of these investments and, therefore, the investments were not impaired. |
Note_5_Loans_and_Allowance_for
Note 5 - Loans and Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 – LOANS AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s loan portfolio was comprised of the following at December 31: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans | All other loans | Total | PCI loans | All other loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 5,552 | $ | 168,234 | $ | 173,786 | $ | 5,737 | $ | 116,663 | $ | 122,400 | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate (CRE) - owner-occupied | 30,554 | 303,228 | 333,782 | 35,760 | 231,821 | 267,581 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 43,866 | 426,781 | 470,647 | 56,996 | 325,191 | 382,187 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 514 | 28,887 | 29,401 | - | 19,959 | 19,959 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 13,660 | 41,783 | 55,443 | 22,699 | 42,890 | 65,589 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 112 | 71,478 | 71,590 | 121 | 56,638 | 56,759 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1,187 | 3,858 | 5,045 | 137 | 3,712 | 3,849 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 95,445 | 1,044,249 | 1,139,694 | 121,450 | 796,874 | 918,324 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 28,730 | 176,420 | 205,150 | 32,826 | 140,550 | 173,376 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit (HELOC) | 1,734 | 153,563 | 155,297 | 1,402 | 142,352 | 143,754 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 6,574 | 49,308 | 55,882 | 6,920 | 33,901 | 40,821 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 758 | 21,828 | 22,586 | 1,189 | 17,606 | 18,795 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 37,796 | 401,119 | 438,915 | 42,337 | 334,409 | 376,746 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | 133,241 | 1,445,368 | 1,578,609 | 163,787 | 1,131,283 | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||||||||
Deferred fees | - | 2,084 | 2,084 | - | 738 | 738 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans, net of deferred fees | $ | 133,241 | $ | 1,447,452 | $ | 1,580,693 | $ | 163,787 | $ | 1,132,021 | $ | 1,295,808 | |||||||||||||||||||||||||||||||||||||||||
Included in the loan totals at December 31, 2014 and 2013 is $42.3 million and $71.1 million, respectively, of covered loans pursuant to the FDIC loss share agreements. Of these amounts, at December 31, 2014 and 2013, $39.8 million and $68.0 million, respectively, is included in PCI loans and $2.5 million and $3.2 million, respectively, is included in all other loans. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2014 and 2013, the Company had sold participations in loans aggregating $6.5 million and $3.3 million, respectively, to other financial institutions on a nonrecourse basis. Collections on loan participations and remittances to participating institutions conform to customary banking practices. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The Bank accepts residential mortgage loan applications and funds loans of qualified borrowers. Funded loans are sold with limited recourse to investors under the terms of pre-existing commitments. The Bank executes all of its loan sales agreements under best efforts contracts with investors. From time to time, the Company may choose to hold certain mortgage loans on balance sheet. In addition, as part of the Provident Community merger, the Company serviced $3.7 million residential mortgage loans for the benefit of others as of December 31, 2014. The Company did not service residential mortgage loans for the benefit of others as of December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans sold with limited recourse are 1-4 family residential mortgages originated by the Bank and sold to various other financial institutions. Various recourse agreements exist, ranging from thirty days to twelve months. The Company’s exposure to credit loss in the event of nonperformance by the other party to the loan is represented by the contractual notional amount of the loan. Since none of the loans have ever been returned to the Company, the amount of total loans sold with limited recourse does not necessarily represent future cash requirements. Total loans sold with limited recourse in 2014 and 2013 was $58.8 million and $110.1 million, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The outstanding principal balance and the carrying amount of acquired loans that were recorded at fair value at the acquisition date that are included in the consolidated balance sheet at December 31, 2014 and 2013 were as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans | Purchased Performing loans | Total | PCI loans | Purchased Performing loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ | 165,686 | $ | 367,768 | $ | 533,454 | $ | 197,040 | $ | 408,970 | $ | 606,010 | |||||||||||||||||||||||||||||||||||||||||
Carrying amount: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 5,552 | 11,032 | 16,584 | 5,737 | 18,377 | 24,114 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 30,554 | 101,071 | 131,625 | 35,760 | 103,834 | 139,594 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 43,866 | 62,493 | 106,359 | 56,996 | 69,368 | 126,364 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 514 | - | 514 | - | 97 | 97 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 13,660 | 8,052 | 21,712 | 22,699 | 13,509 | 36,208 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 112 | - | 112 | 121 | 3,218 | 3,339 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1,187 | 734 | 1,921 | 137 | 1,889 | 2,026 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 28,730 | 91,291 | 120,021 | 32,826 | 98,104 | 130,930 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,734 | 83,573 | 85,307 | 1,402 | 86,512 | 87,914 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 6,574 | 3,928 | 10,502 | 6,920 | 7,155 | 14,075 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 758 | 2,615 | 3,373 | 1,189 | 2,377 | 3,566 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 133,241 | $ | 364,789 | $ | 498,030 | $ | 163,787 | $ | 404,440 | $ | 568,227 | ||||||||||||||||||||||||||||||||||||||||||
Concentrations of Credit - Loans are primarily made within the Company’s operating footprint of North Carolina, South Carolina, Georgia and Virginia. Real estate loans can be affected by the condition of the local real estate market. Commercial and industrial loans can be affected by the local economic conditions. The commercial loan portfolio has concentrations in business loans secured by real estate including construction loans and real estate development loans. Primary concentrations in the consumer loan portfolio include home equity lines of credit and residential mortgages. At December 31, 2014 and December 31, 2013, the Company had no loans outstanding with non-United States entities. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses -The following table presents, by portfolio segment, the activity in the allowance for loan losses for the years ended December 31, 2014, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, excluding PCI: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 1,491 | $ | 399 | $ | 1,797 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,471 | |||||||||||||||||||||||||||
Provision for loan losses | (254 | ) | 252 | 123 | (464 | ) | (2,871 | ) | 96 | 6 | 48 | 1,384 | 296 | 29 | (1,355 | ) | |||||||||||||||||||||||||||||||||||||
Charge-offs | (161 | ) | (193 | ) | (292 | ) | - | (15 | ) | (16 | ) | - | - | (161 | ) | (852 | ) | (201 | ) | (50 | ) | (1,941 | ) | ||||||||||||||||||||||||||||||
Recoveries | 487 | 263 | 123 | - | 98 | 1,727 | - | 1 | 198 | 69 | 57 | 64 | 3,087 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | 326 | 70 | (169 | ) | - | 83 | 1,711 | - | 1 | 37 | (783 | ) | (144 | ) | 14 | 1,146 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
PCI Impairment Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | - | $ | - | $ | 360 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 360 | |||||||||||||||||||||||||||
PCI impairment charge-offs | - | - | (6 | ) | - | - | - | - | - | (1 | ) | (144 | ) | - | - | (151 | ) | ||||||||||||||||||||||||||||||||||||
PCI impairment recoveries | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Net PCI impairment charge-offs | - | - | (6 | ) | - | - | - | - | - | (1 | ) | (144 | ) | - | - | (151 | ) | ||||||||||||||||||||||||||||||||||||
Reversal of PCI impairment | - | - | (354 | ) | - | - | - | - | - | 1 | 144 | - | - | (209 | ) | ||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | - | - | 278 | - | - | - | - | - | - | - | - | - | 278 | ||||||||||||||||||||||||||||||||||||||||
Total provision for loan losses charged to operations | - | - | (76 | ) | - | - | - | - | - | 1 | 144 | - | - | 69 | |||||||||||||||||||||||||||||||||||||||
Provision for loan losses recorded through FDIC loss share receivable | - | - | (278 | ) | - | - | - | - | - | - | - | - | - | (278 | ) | ||||||||||||||||||||||||||||||||||||||
Ending balance | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, excluding PCI: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 849 | $ | 496 | $ | 1,102 | $ | 4,157 | $ | - | $ | - | $ | - | $ | 8 | $ | 454 | $ | 1,463 | $ | 1,046 | $ | 49 | $ | 9,624 | |||||||||||||||||||||||||||
Provision for loan losses | 1,693 | (52 | ) | 933 | (4,157 | ) | 705 | 1,031 | 299 | 16 | 319 | 359 | (673 | ) | 31 | 504 | |||||||||||||||||||||||||||||||||||||
Charge-offs | (1,238 | ) | (52 | ) | (718 | ) | - | (87 | ) | (6 | ) | - | - | (831 | ) | (838 | ) | (44 | ) | (64 | ) | (3,878 | ) | ||||||||||||||||||||||||||||||
Recoveries | 187 | 7 | 480 | - | 221 | 726 | - | 1 | 416 | 66 | 61 | 56 | 2,221 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | (1,051 | ) | (45 | ) | (238 | ) | - | 134 | 720 | - | 1 | (415 | ) | (772 | ) | 17 | (8 | ) | (1,657 | ) | |||||||||||||||||||||||||||||||||
Ending balance | $ | 1,491 | $ | 399 | $ | 1,797 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,471 | |||||||||||||||||||||||||||
PCI Impairment Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 225 | $ | - | $ | - | $ | 542 | $ | - | $ | - | $ | - | $ | - | $ | 200 | $ | - | $ | - | $ | - | $ | 967 | |||||||||||||||||||||||||||
PCI impairment charge-offs | (216 | ) | - | (16 | ) | (177 | ) | - | - | - | (386 | ) | (311 | ) | - | (233 | ) | (36 | ) | (1,375 | ) | ||||||||||||||||||||||||||||||||
PCI impairment recoveries | - | - | - | 25 | - | - | - | - | - | - | - | - | 25 | ||||||||||||||||||||||||||||||||||||||||
Net PCI impairment charge-offs | (216 | ) | - | (16 | ) | (152 | ) | - | - | - | (386 | ) | (311 | ) | - | (233 | ) | (36 | ) | (1,350 | ) | ||||||||||||||||||||||||||||||||
PCI provision for loan losses | (9 | ) | - | 376 | (390 | ) | - | - | - | 386 | 111 | - | 233 | 36 | 743 | ||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (104 | ) | - | (205 | ) | (192 | ) | - | - | - | - | - | - | - | - | (501 | ) | ||||||||||||||||||||||||||||||||||||
Total provision for loan losses charged to operations | (113 | ) | - | 171 | (582 | ) | - | - | - | 386 | 111 | - | 233 | 36 | 242 | ||||||||||||||||||||||||||||||||||||||
Provision for loan losses recorded through FDIC loss share receivable | 104 | - | 205 | 192 | - | - | - | - | - | - | - | - | 501 | ||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | - | $ | - | $ | 360 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 360 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,491 | $ | 399 | $ | 2,157 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,831 | |||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 703 | $ | 740 | $ | 2,106 | $ | 3,883 | $ | - | $ | - | $ | - | $ | 17 | $ | 309 | $ | 1,898 | $ | 455 | $ | 43 | $ | 10,154 | |||||||||||||||||||||||||||
Provision for loan losses | 632 | (40 | ) | 71 | (676 | ) | - | - | - | 85 | 262 | (62 | ) | 795 | (11 | ) | 1,056 | ||||||||||||||||||||||||||||||||||||
PCI provision for loan losses | 225 | - | - | 542 | - | - | - | - | 200 | - | - | - | 967 | ||||||||||||||||||||||||||||||||||||||||
Charge-offs | (565 | ) | (204 | ) | (1,132 | ) | (652 | ) | - | - | - | (94 | ) | (129 | ) | (406 | ) | (328 | ) | (12 | ) | (3,522 | ) | ||||||||||||||||||||||||||||||
Recoveries | 79 | - | 57 | 1,602 | - | - | - | - | 12 | 33 | 124 | 29 | 1,936 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | (486 | ) | (204 | ) | (1,075 | ) | 950 | - | - | - | (94 | ) | (117 | ) | (373 | ) | (204 | ) | 17 | (1,586 | ) | ||||||||||||||||||||||||||||||||
Ending balance | $ | 1,074 | $ | 496 | $ | 1,102 | $ | 4,699 | $ | - | $ | - | $ | - | $ | 8 | $ | 654 | $ | 1,463 | $ | 1,046 | $ | 49 | $ | 10,591 | |||||||||||||||||||||||||||
The following table presents, by portfolio segment, the balance in the allowance for loan losses disaggregated on the basis of the Company’s impairment measurement method and the related recorded investment in loans at December 31, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 44 | $ | 18 | $ | 57 | $ | - | $ | - | $ | 11 | $ | - | $ | 19 | $ | 138 | $ | 382 | $ | 4 | $ | 12 | $ | 685 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,519 | 703 | 1,694 | - | 458 | 580 | 395 | 13 | 305 | 1,269 | 538 | 103 | 7,577 | ||||||||||||||||||||||||||||||||||||||||
1,563 | 721 | 1,751 | - | 458 | 591 | 395 | 32 | 443 | 1,651 | 542 | 115 | 8,262 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 376 | $ | 2,889 | $ | 1,271 | $ | - | $ | - | $ | 1,073 | $ | - | $ | 143 | $ | 2,525 | $ | 2,481 | $ | 369 | $ | 90 | $ | 11,217 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 167,858 | 300,339 | 425,510 | - | 28,887 | 40,710 | 71,478 | 3,715 | 173,895 | 151,082 | 48,939 | 21,738 | 1,434,151 | ||||||||||||||||||||||||||||||||||||||||
168,234 | 303,228 | 426,781 | - | 28,887 | 41,783 | 71,478 | 3,858 | 176,420 | 153,563 | 49,308 | 21,828 | 1,445,368 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | 5,552 | 30,554 | 43,866 | - | 514 | 13,660 | 112 | 1,187 | 28,730 | 1,734 | 6,574 | 758 | 133,241 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,786 | $ | 333,782 | $ | 470,647 | $ | - | $ | 29,401 | $ | 55,443 | $ | 71,590 | $ | 5,045 | $ | 205,150 | $ | 155,297 | $ | 55,882 | $ | 22,586 | $ | 1,578,609 | |||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14 | $ | 14 | $ | 527 | $ | - | $ | - | $ | - | $ | - | $ | 18 | $ | 167 | $ | 137 | $ | 7 | $ | - | $ | 884 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,477 | 385 | 1,270 | - | 839 | 1,751 | 299 | 7 | 191 | 913 | 383 | 72 | 7,587 | ||||||||||||||||||||||||||||||||||||||||
1,491 | 399 | 1,797 | - | 839 | 1,751 | 299 | 25 | 358 | 1,050 | 390 | 72 | 8,471 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | - | - | 360 | - | - | - | - | - | - | - | - | - | 360 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,491 | $ | 399 | $ | 2,157 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,831 | |||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 265 | $ | 1,902 | $ | 3,216 | $ | - | $ | - | $ | 1,888 | $ | - | $ | 262 | $ | 4,513 | $ | 3,014 | $ | 66 | $ | 60 | $ | 15,186 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 116,398 | 229,919 | 321,975 | - | 19,959 | 41,002 | 56,638 | 3,450 | 136,037 | 139,338 | 33,835 | 17,546 | 1,116,097 | ||||||||||||||||||||||||||||||||||||||||
116,663 | 231,821 | 325,191 | - | 19,959 | 42,890 | 56,638 | 3,712 | 140,550 | 142,352 | 33,901 | 17,606 | 1,131,283 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | 5,737 | 35,760 | 56,996 | - | - | 22,699 | 121 | 137 | 32,826 | 1,402 | 6,920 | 1,189 | 163,787 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 122,400 | $ | 267,581 | $ | 382,187 | $ | - | $ | 19,959 | $ | 65,589 | $ | 56,759 | $ | 3,849 | $ | 173,376 | $ | 143,754 | $ | 40,821 | $ | 18,795 | $ | 1,295,070 | |||||||||||||||||||||||||||
The Company’s loan loss allowance methodology includes four components, as described below: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1) Specific Reserve Component. Specific reserves represent the current impairment estimate on specific loans, for which it is probable that the Company will be unable to collect all amounts due according to contractual terms based on current information and events. Impairment measurement reflects only a deterioration of credit quality and not changes in market rates that may cause a change in the fair value of the impaired loan. The amount of impairment may be measured in one of three ways, including (i) calculating the present value of expected future cash flows, discounted at the loan’s interest rate implicit in the original document and deducting estimated selling costs, if any; (ii) observing quoted market prices for identical or similar instruments traded in active markets, or employing model-based valuation techniques for which all significant assumptions are observable in the market; and (iii) determining the fair value of collateral, which is utilized for both collateral-dependent loans and for loans when foreclosure is probable. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans with a balance less than or equal to $150 thousand are viewed in two groups: those which have experienced charge-offs and those recorded at legal balance. Those loans which have experienced charge-offs have no additional reserve applied unless specifically calculated at a point in time when the loan balance exceeded $150 thousand. Those loans recorded at their legal balance are reserved for based on a pooled probability of default and loss given default calculation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2) Quantitative Reserve Component. Quantitative reserves represent the current loss contingency estimate on pools of loans, which is an estimate of the amount for which it is probable that the Company will be unable to collect all amounts due on homogeneous groups of loans according to contractual terms should one or more events occur, excluding those loans specifically identified above. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The historical loss experience of the Company is collected quarterly by evaluating internal loss data. The estimated historical loss rates are grouped by loan product type. The Company utilizes average historical losses to represent management’s estimate of losses inherent in a particular portfolio. The historical look back period is estimated by loan type, and the Company applies the appropriate historical loss period which best reflects the inherent loss in the applicable portfolio considering prevailing market conditions. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In the past, the Company has recorded a minimum reserve as part of the quantitative component. A minimum reserve is utilized when the Company has insufficient internal loss history or when internal loss history falls below the minimum reserve percentage. Minimums are determined by analyzing Federal Reserve Bank charge-off data for all insured federal- and state-chartered commercial banks. During 2014, the Company determined that it would use the calculated average historical loss rates and adjust to the minimum reserve amounts in its qualitative component. This change represented a reclassification between components of the allowance and had no impact on the calculation in total. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
During 2013, the Company segregated the AC&D portfolio into three collateral types: (i) 1-4 family construction, (ii) lots, land and development and (iii) CRE construction. These enhancements strengthen the granularity of the allowance methodology and are reflective of the distinctions in credit quality indicators for the three collateral types as well as the Company’s present origination activities. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following look back periods were utilized by management in determining the quantitative reserve component at December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Look back periods (in calendar quarters) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
The changes in the look back periods noted above were made to provide a better estimate of the loss inherent in the portfolio for each loan category and to reflect the availability of loss history. The Company also performs a quantitative calculation on the acquired purchased performing loan portfolio. There is no allowance for loan losses established at the acquisition date for purchased performing loans. The historical loss experience discussed above is applied to the acquired purchased performing loan portfolio and the result is compared to the remaining fair value mark on this portfolio. A provision for loan losses is recorded for any further deterioration in these loans subsequent to the acquisition. At December 31, 2014, this analysis indicated a need for a $117 thousand provision for loan losses for the acquired purchased performing portfolio. There was no additional provision for loan losses for the acquired purchased performing portfolio as of December 31, 2013. The remaining mark on the acquired purchased performing loan portfolio was $3.0 million and $4.5 million at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
3) Qualitative Reserve Component. Qualitative reserves represent an estimate of the amount for which it is probable that environmental or other relevant factors will cause the aforementioned loss contingency estimate to differ from the Company’s historical loss experience or other assumptions. These factors include portfolio trends, portfolio concentrations, economic and market conditions, changes in lending practices and other factors. In 2014, the Company introduced two new factors: changes in loan review systems and geographic considerations. Management believes these refinements simplify application of the qualitative component of the allowance methodology. Each of the factors, except other factors, can range from 0.00% (not applicable) to 0.15% (very high). Other factors are reviewed on a situational basis and are adjusted in 5 basis point increments, up or down, with a maximum of 0.50%. Details of the seven environmental factors for inclusion in the allowance methodology are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
i. | Portfolio trends, which may relate to such factors as type or level of loan origination activity, changes in asset quality (i.e., past due, special mention, non-performing) and/or changes in collateral values; | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ii. | Portfolio concentrations, which may relate to individual borrowers and/or guarantors, geographic regions, industry sectors, loan types and/or other factors; | ||||||||||||||||||||||||||||||||||||||||||||||||||||
iii. | Economic and market trends, which may relate to trends and/or levels of gross domestic production, unemployment, bankruptcies, foreclosures, housing starts, housing prices, equity prices, competitor activities and/or other factors; | ||||||||||||||||||||||||||||||||||||||||||||||||||||
iv. | Changes in lending practices, which may relate to changes in credit policies, procedures, systems or staff; | ||||||||||||||||||||||||||||||||||||||||||||||||||||
v. | Changes in loan review system, which may introduce variation in loan grading, collateral adequacy and valuation and impairment classification; | ||||||||||||||||||||||||||||||||||||||||||||||||||||
vi. | Geographical considerations, which may relate to economic and/or environmental issues unique to a geographical area including but not limited to elimination of a major employer, natural disaster, or long-term states of emergency; and | ||||||||||||||||||||||||||||||||||||||||||||||||||||
vii. | Other factors, which is intended to capture the incremental adjustment, by loan type, to internally calculated minimum reserves (as discussed above) as well as environmental factors not specifically identified above. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
In addition, qualitative reserves on purchased performing loans are based on the Company’s judgment around the timing difference expected to occur between accretion of the fair market value credit adjustment and realization of actual loans losses. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
4) Reserve on PCI Loans. In determining the acquisition date fair value of PCI loans, and in subsequent accounting, the Company generally aggregates purchased loans into pools of loans with common risk characteristics. Expected cash flows at the acquisition date in excess of the fair value of loans are recorded as interest income over the life of the loans using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, significant increases in cash flows over those expected at the acquisition date are recognized as interest income prospectively. Decreases in expected cash flows after the acquisition date are recognized by recording an allowance for loan losses. In pools where impairment has already been recognized, an increase in cash flows will result in a reversal of prior impairment. Management analyzes these acquired loan pools using various assessments of risk to determine and calculate an expected loss. The expected loss is derived using an estimate of a loss given default based upon the collateral type and/or specific review by loan officers of loans generally greater than $1.0 million, and the probability of default that was determined based upon management’s review of the loan portfolio. Trends are reviewed in terms of traditional credit metrics such as accrual status, past due status, and weighted average risk grade of the loans within each of the accounting pools. In addition, the relationship between the change in the unpaid principal balance and change in the fair value mark is assessed to correlate the directional consistency of the expected loss for each pool. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
This analysis resulted in net recovery of impairment for the year ended December 31, 2014 of $209 thousand. Additionally, approximately $(278) thousand was attributable to covered loans under FDIC loss share agreements. These covered loan impairments were a function of an increase in expected losses and as a result, the FDIC indemnification asset was increased. See Note 6 – FDIC Loss Share Agreements for further discussion. These impairments are in a single covered PCI loan pool and are in the CRE – investor income producing loan segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The allowance for loan losses is increased by provisions charged to operations and reduced by loans charged off, net of recoveries. The decrease in the allowance for loan losses from December 31, 2013 to December 31, 2014 was a function of the following: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
-1 | a decrease of $3.5 million in the quantitative component of the allowance due to a decrease in historical loss rates applied to the portfolio as significant charge-offs from 2010 are replaced with low loss or recovery periods in 2014. In addition, changes in look-back periods in the residential construction loan type, which better reflect the inherent loss in the portfolio, and the reclassification of the minimum reserve amounts to the qualitative component contributed to the decrease. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
-2 | An increase of $3.4 million in the qualitative component of the allowance primarily due to the reclassification of minimum reserve amounts noted in item (1) above as well as management’s decision to increase certain factors based on rapid loan growth, entrance into new markets, and caution surrounding the economic recovery. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
-3 | A decrease of $360 thousand in the reserve on PCI loans due to the reversal of previously recognized impairments. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
-4 | A decrease of $199 thousand in specific reserves which change periodically as loans move through or out of the impairment process. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company evaluates and estimates off-balance sheet credit exposure at the same time it estimates credit losses for loans by a similar process. These estimated credit losses are not recorded as part of the allowance for loan losses, but are recorded to a separate liability account by a charge to income, if material. Loan commitments, unused lines of credit and standby letters of credit make up the off-balance sheet items reviewed for potential credit losses. At both December 31, 2014 and 2013, $125 thousand was recorded as an other liability for off-balance sheet credit exposure. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Quality Indicators -The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The Company's primary credit quality indicator is an internal credit risk rating system that categorizes loans into pass, special mention, or classified categories. Credit risk ratings are applied individually to those classes of loans that have significant or unique credit characteristics that benefit from a case-by-case evaluation. These are typically loans to businesses or individuals in the classes that comprise the commercial portfolio segment. Groups of loans that are underwritten and structured using standardized criteria and characteristics, such as statistical models (e.g., credit scoring or payment performance), are typically risk rated and monitored collectively. These are typically loans to individuals in the classes that comprise the consumer portfolio segment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following are the definitions of the Company's credit quality indicators: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass: | Loans in classes that comprise the commercial and consumer portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. PCI loans that were recorded at estimated fair value on the acquisition date are generally assigned a “pass” loan grade because their net financial statement value is based on the present value of expected cash flows. Management believes there is a low likelihood of loss related to those loans that are considered pass. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Mention: | Loans in classes that comprise the commercial and consumer portfolio segments that have potential weaknesses that deserve management's close attention. If not addressed, these potential weaknesses may result in deterioration of the repayment prospects for the loan. Management believes there is a moderate likelihood of some loss related to those loans that are considered special mention. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Classified: | Loans in the classes that comprise the commercial and consumer portfolio segments that are inadequately protected by the sound worth and paying capacity of the borrower or of the collateral pledged, if any. Management believes that there is a distinct possibility that the Company will sustain some loss if the deficiencies related to classified loans are not corrected in a timely manner. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company's credit quality indicators are periodically updated on a case-by-case basis. The following tables present the recorded investment in the Company's loans as of December 31, 2014 and 2013, by loan class and by credit quality indicator. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | CRE-Investor | AC&D- | AC&D- lots, | ||||||||||||||||||||||||||||||||||||||||||||||||||
and | CRE-Owner | Income | 1-4 family | land, & | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Industrial | Occupied | Producing | construction | development | AC&D- CRE | Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 172,638 | $ | 328,712 | $ | 461,955 | $ | 29,401 | $ | 52,568 | $ | 71,590 | $ | 4,902 | $ | 1,121,766 | |||||||||||||||||||||||||||||||||||||
Special mention | 493 | 1,925 | 6,934 | - | 1,335 | - | - | 10,687 | |||||||||||||||||||||||||||||||||||||||||||||
Classified | 655 | 3,145 | 1,758 | - | 1,540 | - | 143 | 7,241 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,786 | $ | 333,782 | $ | 470,647 | $ | 29,401 | $ | 55,443 | $ | 71,590 | $ | 5,045 | $ | 1,139,694 | |||||||||||||||||||||||||||||||||||||
Total Loans | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | Other Loans to | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage | HELOC | Construction | Individuals | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 202,214 | $ | 147,893 | $ | 55,290 | $ | 22,445 | $ | 427,842 | |||||||||||||||||||||||||||||||||||||||||||
Special mention | 1,802 | 6,122 | 227 | 99 | 8,250 | ||||||||||||||||||||||||||||||||||||||||||||||||
Classified | 1,134 | 1,282 | 365 | 42 | 2,823 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 205,150 | $ | 155,297 | $ | 55,882 | $ | 22,586 | $ | 438,915 | |||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | 1,578,609 | |||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | CRE-Investor | AC&D- | AC&D- lots, | ||||||||||||||||||||||||||||||||||||||||||||||||||
and | CRE-Owner | Income | 1-4 family | land, & | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Industrial | Occupied | Producing | construction | development | AC&D- CRE | Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 120,037 | $ | 260,472 | $ | 373,464 | $ | 19,959 | $ | 60,332 | $ | 56,759 | $ | 3,587 | $ | 894,610 | |||||||||||||||||||||||||||||||||||||
Special mention | 1,692 | 6,126 | 3,628 | - | 2,802 | - | 150 | 14,398 | |||||||||||||||||||||||||||||||||||||||||||||
Classified | 671 | 983 | 5,095 | - | 2,455 | - | 112 | 9,316 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 122,400 | $ | 267,581 | $ | 382,187 | $ | 19,959 | $ | 65,589 | $ | 56,759 | $ | 3,849 | $ | 918,324 | |||||||||||||||||||||||||||||||||||||
Total Loans | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | Other Loans to | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage | HELOC | Construction | Individuals | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 169,519 | $ | 137,626 | $ | 39,824 | $ | 18,301 | $ | 365,270 | |||||||||||||||||||||||||||||||||||||||||||
Special mention | 1,864 | 2,893 | 766 | 488 | 6,011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Classified | 1,993 | 3,235 | 231 | 6 | 5,465 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,376 | $ | 143,754 | $ | 40,821 | $ | 18,795 | $ | 376,746 | |||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aging Analysis of Accruing and Non-Accruing Loans - The Company considers a loan to be past due or delinquent when the terms of the contractual obligation are not met by the borrower. PCI loans are included as a single category in the table below as management believes, regardless of their age, there is a lower likelihood of aggregate loss related to these loan pools. Additionally, PCI loans are discounted to allow for the accretion of income on a level yield basis over the life of the loan based on expected cash flows. Regardless of accruing status, the associated discount on these loan pools results in income recognition. The following presents, by class, an aging analysis of the Company’s accruing and non-accruing loans as of December 31, 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||||||
Days | Days | 90 Days | PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | or More | Loans | Current | Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 123 | $ | 18 | $ | 73 | $ | 5,552 | $ | 168,020 | $ | 173,786 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | - | - | 1,616 | 30,554 | 301,612 | 333,782 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | - | 571 | 43,866 | 426,210 | 470,647 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | - | - | - | 514 | 28,887 | 29,401 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 13,660 | 41,783 | 55,443 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | - | - | - | 112 | 71,478 | 71,590 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 40 | 143 | - | 1,187 | 3,675 | 5,045 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 163 | 161 | 2,260 | 95,445 | 1,041,665 | 1,139,694 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 57 | 68 | 1,058 | 28,730 | 175,237 | 205,150 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 343 | 60 | 228 | 1,734 | 152,932 | 155,297 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 157 | - | 341 | 6,574 | 48,810 | 55,882 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 29 | 1 | 41 | 758 | 21,757 | 22,586 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 586 | 129 | 1,668 | 37,796 | 398,736 | 438,915 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 749 | $ | 290 | $ | 3,928 | $ | 133,241 | $ | 1,440,401 | $ | 1,578,609 | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 96 | $ | 52 | $ | 149 | $ | 5,737 | $ | 116,366 | $ | 122,400 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 418 | - | 209 | 35,760 | 231,194 | 267,581 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 655 | - | 3,161 | 56,996 | 321,375 | 382,187 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | - | - | - | - | 19,959 | 19,959 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 48 | - | 292 | 22,699 | 42,550 | 65,589 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | - | - | - | 121 | 56,638 | 56,759 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | 112 | - | 137 | 3,600 | 3,849 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 1,217 | 164 | 3,811 | 121,450 | 791,682 | 918,324 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | - | 32 | 1,340 | 32,826 | 139,178 | 173,376 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 248 | 160 | 698 | 1,402 | 141,246 | 143,754 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 25 | - | 66 | 6,920 | 33,810 | 40,821 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 14 | 11 | - | 1,189 | 17,581 | 18,795 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 287 | 203 | 2,104 | 42,337 | 331,815 | 376,746 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 1,504 | $ | 367 | $ | 5,915 | $ | 163,787 | $ | 1,123,497 | $ | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans - All classes of loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impaired loans may include all classes of nonaccrual loans and loans modified in a TDR. If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the rate implicit in the original loan agreement or at the fair value of collateral if repayment is expected solely from the collateral. Additionally, a portion of the Company’s qualitative factors accounts for potential impairment on loans generally less than $150 thousand. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
During the year ended December 31, 2014, the Company’s quarterly cash flow analyses on PCI loan pools indicated net recovery of impairment of $209 thousand. These impairments are in a single covered PCI loan pool and are in the CRE – investor income producing loan segment. During the year ended December 31, 2013, the Company’s quarterly cash flow analyses indicated net recovery of impairment of $607 thousand. These impairments are in a single covered PCI loan pool and are in the CRE – investor income producing loan segment. These amounts are not included in the tables below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Related | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Allowance For | Recorded | Principal | Allowance For | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Balance | Loan Losses | Investment | Balance | Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 47 | $ | 126 | $ | - | $ | 183 | $ | 473 | $ | - | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | - | - | - | 1,815 | 1,955 | - | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | - | - | 30 | 47 | - | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 1,888 | 4,475 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | - | - | 150 | 167 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 47 | 126 | - | 4,066 | 7,117 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 322 | 420 | - | 3,080 | 3,926 | - | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 363 | 499 | - | 2,478 | 2,855 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 322 | 376 | - | 26 | 39 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | - | - | - | 58 | 62 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 1,007 | 1,295 | - | 5,642 | 6,882 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 1,054 | $ | 1,421 | $ | - | $ | 9,708 | $ | 13,999 | $ | - | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans with an Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 329 | $ | 348 | $ | 44 | $ | 82 | $ | 90 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,889 | 2,982 | 18 | 87 | 88 | 14 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,271 | 1,357 | 57 | 3,186 | 3,673 | 527 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,073 | 1,187 | 11 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 143 | 159 | 19 | 112 | 112 | 18 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 5,705 | 6,033 | 149 | 3,467 | 3,963 | 573 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 2,203 | 2,241 | 138 | 1,433 | 1,485 | 167 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,118 | 2,534 | 382 | 536 | 587 | 137 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 47 | 72 | 4 | 40 | 42 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 90 | 90 | 12 | 2 | 4 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 4,458 | 4,937 | 536 | 2,011 | 2,118 | 311 | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 10,163 | $ | 10,970 | $ | 685 | $ | 5,478 | $ | 6,081 | $ | 884 | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 376 | $ | 474 | $ | 44 | $ | 265 | $ | 563 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,889 | 2,982 | 18 | 1,902 | 2,043 | 14 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,271 | 1,357 | 57 | 3,216 | 3,720 | 527 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,073 | 1,187 | 11 | 1,888 | 4,475 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 143 | 159 | 19 | 262 | 279 | 18 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 5,752 | 6,159 | 149 | 7,533 | 11,080 | 573 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 2,525 | 2,661 | 138 | 4,513 | 5,411 | 167 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,481 | 3,033 | 382 | 3,014 | 3,442 | 137 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 369 | 448 | 4 | 66 | 81 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 90 | 90 | 12 | 60 | 66 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 5,465 | 6,232 | 536 | 7,653 | 9,000 | 311 | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 11,217 | $ | 12,391 | $ | 685 | $ | 15,186 | $ | 20,080 | $ | 884 | |||||||||||||||||||||||||||||||||||||||||
The average recorded investment and interest income recognized on impaired loans, by class, for the years ended December 31, 2014 and 2013 is shown in the table below. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with No Related | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 382 | $ | 19 | $ | 276 | $ | 5 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,090 | 54 | 2,108 | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 620 | 24 | 980 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,034 | 98 | 2,978 | 202 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 60 | 4 | 158 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 4,186 | 199 | 6,500 | 322 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,689 | 31 | 2,688 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,390 | 19 | 1,513 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 80 | - | 20 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 23 | 1 | 64 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 3,182 | 51 | 4,285 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 7,368 | $ | 250 | $ | 10,785 | $ | 403 | |||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with an Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 224 | $ | - | $ | 487 | $ | 2 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 695 | 20 | 47 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,052 | 9 | 2,829 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 19 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 243 | 16 | 50 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 176 | 8 | 22 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 2,409 | 53 | 3,435 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,825 | 42 | 1,282 | 33 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,597 | 29 | 920 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 267 | 1 | 24 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 42 | 4 | 1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 3,731 | 76 | 2,227 | 34 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 6,140 | $ | 129 | $ | 5,662 | $ | 50 | |||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 606 | $ | 19 | $ | 763 | $ | 7 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,785 | 74 | 2,155 | 118 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,672 | 33 | 3,809 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 19 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,277 | 114 | 3,028 | 202 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 236 | 12 | 180 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 6,595 | 252 | 9,935 | 338 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3,514 | 73 | 3,970 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,987 | 48 | 2,433 | 21 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 347 | 1 | 44 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 65 | 5 | 65 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 6,913 | 127 | 6,512 | 115 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 13,508 | $ | 379 | $ | 16,447 | $ | 453 | |||||||||||||||||||||||||||||||||||||||||||||
During the year ended December 31, 2014, the Company recognized $379 thousand of interest income with respect to impaired loans, specifically accruing TDRs, within the period the loans were impaired. During the year ended December 31, 2013, the Company recognized $453 thousand of interest income with respect to impaired loans, specifically accruing TDRs, within the period the loans were impaired. During the year ended December 31, 2012, the Company recognized $150 thousand of interest income with respect to impaired loans, specifically accruing TDRs, within the period the loans were impaired. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual and Past Due Loans - It is the general policy of the Company to place a loan on nonaccrual status when there is probable loss or when there is reasonable doubt that all principal will be collected, or when it is over 90 days past due. At December 31, 2014 and 2013, there were $30 thousand and $17 thousand, respectively, in loans past due 90 days or more and accruing interest. These loans are secured and considered fully collectible at December 31, 2014 and 2013. The recorded investment in nonaccrual loans at December 31, 2014 and 2013 follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 329 | $ | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 1,616 | 209 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 680 | 3,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 7 | 292 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 2,632 | 4,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,549 | 2,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,022 | 2,348 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 341 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 41 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 2,953 | 4,423 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | $ | 5,585 | $ | 8,428 | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest income included in the results of operations for 2014, 2013 and 2012, with respect to loans that subsequently went to nonaccrual, totaled $158 thousand, $310 thousand and $157 thousand, respectively. If interest on these loans had been accrued in accordance with their original terms, interest income would have increased by $1.1 million, $3.0 million and $540 thousand for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Credit-Impaired Loans – PCI loans had an unpaid principal balance of $165.7 million and a carrying value of $133.2 million at December 31, 2014. PCI loans had an unpaid principal balance of $197.0 million and a carrying value of $163.8 million at December 31, 2013. PCI loans represented 5.6% and 8.4% of total assets at December 31, 2014 and 2013, respectively. Determining the fair value of the PCI loans required the Company to estimate cash flows expected to result from those loans and to discount those cash flows at appropriate rates of interest and taking into account prepayment assumptions. For such loans, the excess of cash flows expected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans and is called the accretable yield. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the impact of estimated credit losses and is called the nonaccretable difference. In accordance with GAAP, there was no carry-over of previously established allowance for loan losses from acquired companies. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
In conjunction with the Provident Community acquisition, the PCI loan portfolio was accounted for at fair value as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-May-14 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual principal and interest at acquisition | $ | 46,177 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccretable difference | (10,153 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 36,024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield | (5,589 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Basis in PCI loans at acquisition - estimated fair value | $ | 30,435 | |||||||||||||||||||||||||||||||||||||||||||||||||||
In conjunction with the Citizens South acquisition, the PCI loan portfolio was accounted for at fair value as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-Oct-12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual principal and interest at acquisition | $ | 294,283 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccretable difference | (47,941 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 246,342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield | (37,724 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Basis in PCI loans at acquisition - estimated fair value | $ | 208,618 | |||||||||||||||||||||||||||||||||||||||||||||||||||
A summary of changes in the accretable yield for PCI loans for the years ended December 31, 2014, 2013 and 2012 follows. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield table | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield, beginning of year | $ | 39,249 | $ | 42,734 | $ | 14,264 | |||||||||||||||||||||||||||||||||||||||||||||||
Addition from the Citizens South acquisition | - | - | 37,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Addition from the Provident Community acquisition | 5,589 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | (15,766 | ) | (14,903 | ) | (7,462 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of nonaccretable difference due to improvement in expected cash flows | 9,886 | 12,143 | 479 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other changes, net | 1,582 | (725 | ) | (2,271 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield, end of year | $ | 40,540 | $ | 39,249 | $ | 42,734 | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructuring - In situations where, for economic or legal reasons related to a borrower's financial difficulties, management may grant a concession for other than an insignificant period of time to the borrower that would not otherwise be considered, the related loan is classified as a TDR. Management strives to identify borrowers in financial difficulty early and work with them to modify to more affordable terms. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. All loan modifications are made on a case-by-case basis. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company allocated $373 thousand and $565 thousand, respectively, of specific reserves to customers whose loan terms have been modified in a TDR as of December 31, 2014 and December 31, 2013. As of December 31, 2014, the Company had 18 TDR loans totaling $4.1 million, of which $841 thousand are nonaccrual loans. As of December 31, 2013, the Company had 11 TDR loans totaling $8.2 million, of which $4.4 million are nonaccrual loans. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents a breakdown of the types of concessions made by loan class during the twelve-month period ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended | Year ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D- lots, land & development | 1 | $ | 184 | $ | 184 | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | - | - | - | 1 | 43 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 1 | 184 | 184 | 1 | 43 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 10 | $ | 10 | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 1 | 962 | 962 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1 | 143 | 143 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 657 | 657 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1 | 174 | 174 | 1 | 1,250 | 1,250 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 4 | 984 | 984 | 2 | 2,212 | 2,212 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 5 | $ | 1,168 | $ | 1,168 | 3 | $ | 2,255 | $ | 2,255 | |||||||||||||||||||||||||||||||||||||||||||
Commercial TDRs - Commercial TDRs (including commercial and industrial, commercial real estate, AC&D and other commercial loans) often result from a workout where an existing commercial loan is restructured and a concession is given. These workouts may involve lengthening the amortization period of the amortized principal beyond market terms, or reducing the interest rate below market terms for the original remaining life of the loan. In the case of extended amortization, this concession reduces the minimum monthly payment and increases the balloon payment at the end of the term of the loan. Other concessions can potentially involve forgiveness of principal, collateral concessions, or reduction of accrued interest. The impact of the TDR on the allowance for loan losses is based on the changes in borrower payment performance rather than just the TDR classification. All TDRs are designated as impaired loans. TDRs, like other impaired loans, are measured based on discounted cash flows, comparing the modified loan to pre-modified terms or, if the loan is deemed to be collateral dependent, collateral value less anticipated selling costs. TDRs having a book balance of less than $150,000, along with other impaired loans of similar size, are measured in a pooled approach utilizing loss given default and probability of default parameters. TDRs may remain in accruing status if the borrower remains less than 90 days past due per the restructured loan terms and no loss is expected. A borrower may be considered for removal from TDR status if it is no longer experiencing financial difficulties and can qualify for new loan terms which do not represent a concession, subject to the normal underwriting standards and processes for similar extensions of credit. As of December 31, 2014, the Company has one commercial TDR with a reduced interest rate and two commercial TDRs where an extension of maturities was granted. All commercial TDRs are paying according to the terms of the modification as of December 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer TDRs - Consumer TDRs (including residential mortgage, HELOC, residential construction and other consumer loans) often result from a workout where an existing loan is modified and a concession is given. These workouts typically lengthen the amortization period of the amortized principal beyond market terms or reduce the interest rate below market terms. The impact of the TDR on the allowance for loan losses is based on the changes in borrower payment performance rather than the TDR classification. TDRs like other impaired loans are measured based on discounted cash flows or collateral value, less anticipated selling costs, of the modified loan using pre-modified interest rates. As of December 31, 2014, the Company has two consumer TDRs where an extension of maturities was granted. All consumer TDRs are paying according to the terms of the modification as of December 31, 2014. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans modified as TDRs within the twelve months ended December 31, 2014 and 2013, and for which there was a payment default during the twelve months ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Twelve months ended | Twelve months ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | $ | - | 1 | $ | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||||
- | - | 1 | 3,610 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1 | $ | 173 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
1 | 173 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 1 | $ | 173 | 1 | $ | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||||
The Company does not deem a TDR to be successful until it has been re-established as an accruing loan. The following table presents the successes and failures of the types of modifications indicated within the 12 months ended December 31, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid in full | Paying as restructured | Foreclosure/Default | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate | - | $ | - | 1 | $ | 222 | - | $ | - | ||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms | - | - | 3 | 970 | 2 | 338 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | - | $ | - | 4 | $ | 1,192 | 2 | $ | 338 | ||||||||||||||||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid in full | Paying as restructured | Foreclosure/Default | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate | 2 | $ | 164 | 4 | $ | 2,108 | 1 | $ | 3,116 | ||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms | 2 | 438 | 6 | 2,993 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 4 | $ | 602 | 10 | $ | 5,101 | 1 | $ | 3,116 | ||||||||||||||||||||||||||||||||||||||||||||
Related Party Loans – From time to time, the Company engages in loan transactions with its directors, executive officers and their related interests (collectively referred to as “related parties”). Such loans are made in the ordinary course of business and on substantially the same terms and collateral as those for comparable transactions prevailing at the time and do not involve more than the normal risk of collectability or present other unfavorable features. A summary of activity in loans to related parties is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans to Directors, Executive Officers and Their Related Interests | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 17,247 | $ | 4,184 | |||||||||||||||||||||||||||||||||||||||||||||||||
Disbursements | 2,369 | 16,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments | (5,576 | ) | (2,974 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 14,040 | $ | 17,247 | |||||||||||||||||||||||||||||||||||||||||||||||||
At December 31, 2014, the Company had pre-approved but unused lines of credit totaling $3.2 million to related parties. |
Note_6_FDIC_Loss_Share_Agreeme
Note 6 - FDIC Loss Share Agreements | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||
Other Assets Disclosure [Text Block] | NOTE 6 –FDIC LOSS SHARE AGREEMENTS | ||||||||
In connection with the Citizens South acquisition, the Bank assumed two purchase and assumption agreements with the FDIC that cover approximately $42.3 million and $71.1 million of covered loans as of December 31, 2014 and 2013, respectively, and $3.0 million and $5.1 million of covered OREO as of December 31, 2014 and 2013, respectively. Citizens South acquired these assets in prior transactions with the FDIC. | |||||||||
Within the first purchase and assumption agreement are two loss share agreements that originated in March 2010, related to Citizen South’s acquisition of Bank of Hiawassee, a Georgia state-chartered bank headquartered in Hiawassee, Georgia. Under these loss-share agreements, the FDIC will cover 80% of net loan losses up to $102 million and 95% of net loan losses that exceed $102 million. The term of the loss-share agreements is ten years for losses and recoveries on residential real estate loans, five years for losses on all other loans and eight years for recoveries on all other loans. At December 31, 2014 and 2013, the Bank recorded an estimated receivable from the FDIC in the amount of $3.0 million and $6.6 million, respectively, related to these loss share agreements. | |||||||||
Within the second purchase and assumption agreement are two loss share agreements that originated in April 2011, related to Citizens South’s acquisition of New Horizons Bank, a Georgia state-chartered bank headquartered in East Ellijay, Georgia. The first loss share agreement covers certain residential loans and OREO for a period of ten years. The other loss-share agreement covers all remaining covered assets for a period of five years. Pursuant to the terms of these loss-share agreements, the FDIC is obligated to reimburse the Bank for 80% of all eligible losses, which begins with the first dollar of loss occurred, and certain collection and disposition expenses with respect to covered assets. The Bank has a corresponding obligation to reimburse the FDIC for 80% of eligible recoveries with respect to covered assets for a period of ten years for residential properties and eight years for all other covered assets. At December 31, 2014 and 2013, the Bank recorded an estimated receivable from the FDIC in the amount of $1.0 million and $3.4 million, respectively, related to these loss share agreements. | |||||||||
The following table provides changes in the estimated receivable from the FDIC during 2014 and 2013: | |||||||||
FDIC Loss Share Receivable | |||||||||
2014 | 2013 | ||||||||
Balance, beginning of period | $ | 10,025 | $ | 18,697 | |||||
Increase (decrease) in expected losses on loans | (278 | ) | 501 | ||||||
Additional losses to OREO | 96 | 817 | |||||||
Reimbursable expenses (income) | 974 | (394 | ) | ||||||
Amortization discounts and premiums, net | (3,203 | ) | (189 | ) | |||||
Reimbursements from the FDIC | (3,650 | ) | (9,720 | ) | |||||
Other changes, net | - | 313 | |||||||
Balance, end of period | $ | 3,964 | $ | 10,025 | |||||
The estimated receivable from the FDIC is measured separately from the related covered assets and is recorded at carrying value. At December 31, 2014 and 2013, the projected cash flows related to the FDIC receivable for losses on covered loans and assets were approximately $3.8 million and $11.5 million, respectively. Included in the estimated receivable above is a component of amortization which will be recognized over the life of the agreement, with increases or decreases based on estimated performance of the underlying loans. | |||||||||
In relation to the FDIC indemnification asset is an expected "true-up" with the FDIC related to the loss share agreements described above. The loss share agreements between the Bank and the FDIC with respect to New Horizons Bank and Bank of Hiawassee each contain a provision that obligates the Company to make a "true-up" payment to the FDIC if the realized losses of each of these acquired banks are less than expected. An estimate of this amount is determined each reporting period. At December 31, 2014 and 2013, the “true-up” amount was estimated to be approximately $5.4 million and $5.0 million, respectively, at the end of the loss share agreements. These amounts are recorded in other liabilities on the balance sheet. The actual payment will be determined at the end of the term of the loss sharing agreements and is based on the negative bid, expected losses, intrinsic loss estimate, and assets covered under the loss share agreements. |
Note_7_Other_Real_Estate_Owned
Note 7 - Other Real Estate Owned | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Real Estate Owned [Text Block] | NOTE 7 - OTHER REAL ESTATE OWNED | ||||||||
The Company owned $12.0 million and $14.5 million in total OREO at December 31, 2014 and 2013, respectively. The portion of OREO covered under the loss share agreements with the FDIC at December 31, 2014 and 2013 totaled $3.0 million and $5.1 million, respectively. | |||||||||
Transactions in OREO for the years ended December 31, 2014 and 2013 are summarized below: | |||||||||
Non-Covered OREO | 2014 | 2013 | |||||||
Beginning balance | $ | 9,404 | $ | 18,427 | |||||
Additions | 2,821 | 3,945 | |||||||
Acquired through merger | 2,964 | - | |||||||
Sales | (5,774 | ) | (12,324 | ) | |||||
Writedowns | (436 | ) | (644 | ) | |||||
Ending balance | $ | 8,979 | $ | 9,404 | |||||
Covered OREO | 2014 | 2013 | |||||||
Beginning balance | $ | 5,088 | $ | 6,646 | |||||
Additions | 5,985 | 6,262 | |||||||
Sales | (7,894 | ) | (7,070 | ) | |||||
Writedowns | (168 | ) | (750 | ) | |||||
Ending balance | $ | 3,011 | $ | 5,088 | |||||
Note_8_Premises_and_Equipment
Note 8 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | NOTE 8 – PREMISES AND EQUIPMENT | ||||||||
The following is a summary of premises and equipment at December 31: | |||||||||
2014 | 2013 | ||||||||
Buildings | $ | 37,098 | $ | 34,871 | |||||
Land | 17,154 | 16,431 | |||||||
Furniture and equipment | 9,315 | 8,677 | |||||||
Leasehold improvements | 1,448 | 1,057 | |||||||
Fixed assets in process | 815 | 389 | |||||||
Premises and equipment | 65,830 | 61,425 | |||||||
Accumulated depreciation | (6,583 | ) | (5,502 | ) | |||||
Premises and equipment, net | $ | 59,247 | $ | 55,923 | |||||
Depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 amounted to $3.9 million, $3.4 million and $1.8 million, respectively. These amounts are included in the occupancy and equipment line item in the Consolidated Statements of Income. |
Note_9_Goodwill_and_Intangible
Note 9 - Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 9 – GOODWILL AND INTANGIBLE ASSETS | ||||||||||||||||
In accordance with GAAP, the Company does not amortize goodwill. However, core deposit intangible assets are amortized over the estimated life of the asset. At December 31, 2014 and 2013, intangible assets consisted of core deposit premiums, net of accumulated amortization, and amounted to $11.0 million and $8.6 million, respectively. Amortization expense related to the core deposit premium was $1.3 million, $1.0 million, and $564 thousand for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||
Amortization of core deposit intangible assets is computed using the straight-line method over an amortization period of ten years. Estimated amortization expense for the years ending December 31 is as follows (dollars in thousand): | |||||||||||||||||
2015 | $ | 1,389 | |||||||||||||||
2016 | 1,389 | ||||||||||||||||
2017 | 1,389 | ||||||||||||||||
2018 | 1,389 | ||||||||||||||||
2019 | 1,389 | ||||||||||||||||
2020 and thereafter | 4,015 | ||||||||||||||||
$ | 10,960 | ||||||||||||||||
Goodwill represents the excess of the acquisition cost over the fair value of the net assets acquired. The Company evaluated the carrying value of goodwill as of October 1, 2014, its annual test date, and determined that no impairment charge was necessary. Should the Company’s future earnings and cash flows decline and/or discount rates increase, an impairment charge to goodwill and other intangible assets may be required. There have been no events subsequent to the October 1, 2014 evaluation that caused the Company to perform an interim review of the carrying value of goodwill. The following table presents a rollforward of goodwill by acquired bank: | |||||||||||||||||
Community | Citizens | Provident | |||||||||||||||
Capital | South | Community | Total | ||||||||||||||
Goodwill balance, December 31, 2012 | $ | 622 | $ | 22,529 | $ | - | $ | 23,151 | |||||||||
Additions | - | - | - | - | |||||||||||||
Adjustments | - | 3,306 | - | 3,306 | |||||||||||||
Goodwill balance, December 31, 2013 | 622 | 25,835 | - | 26,457 | |||||||||||||
Additions | - | - | 2,783 | 2,783 | |||||||||||||
Adjustments | - | - | - | - | |||||||||||||
Goodwill balance, December 31, 2014 | $ | 622 | $ | 25,835 | $ | 2,783 | $ | 29,240 | |||||||||
Note_10_Deposits
Note 10 - Deposits | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Deposit Liabilities Disclosures [Text Block] | NOTE 10 – DEPOSITS | ||||||||
The following is a summary of deposits at December 31: | |||||||||
2014 | 2013 | ||||||||
Noninterest bearing demand deposits | $ | 321,019 | $ | 255,861 | |||||
Interest-bearing demand deposits | 405,012 | 296,995 | |||||||
Money market deposits | 435,922 | 390,059 | |||||||
Savings | 83,820 | 48,701 | |||||||
Brokered deposits | 141,771 | 166,280 | |||||||
Certificates of deposit and other time deposits | 463,810 | 441,989 | |||||||
Total deposits | $ | 1,851,354 | $ | 1,599,885 | |||||
The aggregate amounts of time deposits in denominations of $100,000 or more at December 31, 2014, and 2013, were $198.1 million and $284.7 million, respectively. In July 2010, the Dodd-Frank Act permanently increased the insurance limit on deposit accounts from $100,000 to $250,000. At December 31, 2014 and 2013, the Company had $50.9 million and $37.7 million in time deposits greater than $250,000, respectively. | |||||||||
At December 31, 2014, the scheduled maturities of time deposits, which include brokered certificates of deposit, certificates of deposit and other time deposits are as follows: | |||||||||
Total | |||||||||
2015 | $ | 325,184 | |||||||
2016 | 160,359 | ||||||||
2017 | 28,067 | ||||||||
2018 | 24,748 | ||||||||
2019 and greater | 3,023 | ||||||||
Total time deposits | $ | 541,381 | |||||||
Interest expense on time deposits totaled $3.1 million, $2.5 million and $3.0 million in the years ended December 31, 2014, 2013 and 2012, respectively. |
Note_11_Borrowings
Note 11 b Borrowings | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||
Debt Disclosure [Text Block] | NOTE 11 – BORROWINGS | |||||||||||||||||||||
Borrowings outstanding at December 31, 2014 and 2013 consist of the following: | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Weighted | Weighted | |||||||||||||||||||||
Interest | Average | Average | ||||||||||||||||||||
Maturity | Rate | Balance | Interest Rate | Balance | Interest Rate | |||||||||||||||||
Short-term borrowings: | ||||||||||||||||||||||
Repurchase agreements | various | 0 | % | $ | - | $ | 996 | |||||||||||||||
FHLB Fixed Rate Credit | 1/13/15 | 0.21 | % | 60,000 | - | |||||||||||||||||
FHLB Fixed Rate Credit | 1/21/15 | 0.24 | % | 65,000 | - | |||||||||||||||||
FHLB Adjustable Rate Credit (1) | 1/6/14 | 0.3529 | % | - | 10,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (1) | 1/6/14 | 0.3529 | % | - | 10,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (2) | 1/21/14 | 0.2945 | % | - | 15,000 | |||||||||||||||||
Total short-term borrowings | 125,000 | 0.2256 | % | 35,996 | 0.4 | % | ||||||||||||||||
Long-term borrowings: | ||||||||||||||||||||||
FHLB Adjustable Rate Credit (3) | 1/7/16 | 0.2616 | % | 10,000 | - | |||||||||||||||||
FHLB Adjustable Rate Credit (3) | 1/7/16 | 0.2616 | % | 10,000 | - | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 1.905 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.0675 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.2588 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.025 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (4) | 1/21/16 | 0.2714 | % | 15,000 | - | |||||||||||||||||
Total Federal Home Loan Bank | 55,000 | 0.9197 | % | 20,000 | 2.06 | % | ||||||||||||||||
Subordinated debt | 6/30/19 | 11 | % | - | 6,895 | |||||||||||||||||
Junior subordinated debt | 6/15/36 | 1.7906 | % | 6,179 | 5,986 | |||||||||||||||||
Junior subordinated debt | 12/15/35 | 1.8106 | % | 9,456 | 9,171 | |||||||||||||||||
Junior subordinated debt | 10/1/36 | 1.9751 | % | 2,658 | - | |||||||||||||||||
Junior subordinated debt | 3/1/37 | 1.9756 | % | 5,290 | - | |||||||||||||||||
Total long-term borrowings | 78,583 | 1.2022 | % | 42,052 | 3.44 | % | ||||||||||||||||
Total borrowings | $ | 203,583 | $ | 78,048 | ||||||||||||||||||
(1) Adjustable rate based on three-month LIBOR plus 11 basis points. | ||||||||||||||||||||||
(2) Adjustable rate based on one-month LIBOR plus 13 basis points. | ||||||||||||||||||||||
(3) Adjustable rate based on three-month LIBOR plus 3 basis points. | ||||||||||||||||||||||
(4) Adjustable rate based on three-month LIBOR plus 4 basis points. | ||||||||||||||||||||||
Subsequent to December 31, 2014, two FHLB Fixed Rate Credit one month borrowing agreements in the amounts of $60.0 million and $65.0 million, respectively, matured. These borrowings were replaced with three FHLB Fixed Rate Credit one month borrowing agreements totaling $165 million at an average rate of 0.20%. At December 31, 2014, the Company had an additional $196.8 million of credit available from the FHLB, $183.6 million of credit available from the Federal Reserve Discount Window, and $70.0 million of credit available from correspondent banks. | ||||||||||||||||||||||
FHLB borrowing agreements provide for lines of credit up to 20% of the Bank’s assets. The FHLB borrowings are collateralized by a blanket pledge arrangement on all residential first mortgage loans, HELOCs and loans secured by multi-family real estate that the Bank owns. At December 31, 2014, the carrying value of loans pledged as collateral to the FHLB and the Federal Reserve totaled $560.4 million. | ||||||||||||||||||||||
In September 2009, the Bank issued $6.9 million in aggregate principal amount of its 11% Subordinated Notes, due June 30, 2019 (the “Notes”). On June 30, 2014, the Bank redeemed these Notes in full at a price equal to 100% of the principal amount of the Notes redeemed plus accrued but unpaid interest. | ||||||||||||||||||||||
As a result of its mergers, the Company’s capital structure includes trust preferred securities previously issued by the predecessor companies through specially formed trusts. The combined total amount outstanding of the acquired trusts as of December 31, 2014 and December 31, 2013 was $38.1 million ($23.6 million, net of mark to market) and $25.8 million ($15.2 million, net of mark to market), respectively. | ||||||||||||||||||||||
Community Capital previously had formed Community Capital Corporation Statutory Trust I, an unconsolidated statutory business trust, which issued $10.3 million ($6.1 million, net of mark to market) of trust preferred securities that were sold to third parties. The rate on the trust preferred securities acquired through the Community Capital merger adjusts quarterly to three-month LIBOR plus 1.55%. Citizens South previously had formed CSBC Statutory Trust I, an unconsolidated statutory business trust, which issued $15.5 million ($9.4 million, net of mark to market) of trust preferred securities that were sold to third parties. The rate on the trust preferred securities acquired through the Citizens South merger adjusts quarterly to three-month LIBOR plus 1.57%. Provident Community previously had formed Provident Community Bancshares Capital Trust I and Provident Community Bancshares Capital Trust II. Each trust is an unconsolidated statutory business trust, which issued $4.1 million ($2.6 million, net of mark to market) and $8.2 million ($5.3 million, net of mark to market), respectively, of trust preferred securities that were sold to third parties. The rate on each of the trust preferred securities acquired through the Provident Community merger adjusts quarterly to three-month LIBOR plus 1.74%. The Company has fully and unconditionally guaranteed each trust’s obligations under the preferred securities. | ||||||||||||||||||||||
The amounts presented are after related acquisition accounting fair market value adjustments. The proceeds of the sales of the trust preferred securities were used to purchase junior subordinated debt from the predecessor companies, which are presented as junior subordinated debt in the condensed consolidated balance sheets of the Company and qualify for inclusion in Tier 1 Capital for regulatory capital purposes, subject to certain limitations. |
Note_12_Income_Taxes
Note 12 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | NOTE 12 – INCOME TAXES | ||||||||||||
Income taxes are provided based on the asset-liability method of accounting, which includes the recognition of DTAs and liabilities for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. In general, the Company records a DTA when the event giving rise to the tax benefit has been recognized in the consolidated financial statements. | |||||||||||||
The significant components of the provision for income taxes for the years ended December 31 are as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current tax provision: | |||||||||||||
Federal | $ | 655 | $ | (1,248 | ) | $ | - | ||||||
State | 195 | 147 | 51 | ||||||||||
Total current tax provision | 850 | (1,101 | ) | 51 | |||||||||
Deferred tax provision: | |||||||||||||
Federal | 4,646 | 7,468 | 1,859 | ||||||||||
State | 562 | 992 | 396 | ||||||||||
Total deferred tax provision | 5,208 | 8,460 | 2,255 | ||||||||||
Net provision for income taxes | $ | 6,058 | $ | 7,359 | $ | 2,306 | |||||||
The difference between the provision for income taxes and the amounts computed by applying the statutory federal income tax rate of 35% to income before income taxes for the years ended December 31 are summarized below: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Tax at the statutory federal rate | $ | 6,631 | $ | 7,706 | $ | 2,261 | |||||||
Increase (decrease) resulting from: | |||||||||||||
State income taxes, net of federal tax effect | 493 | 751 | 295 | ||||||||||
Nondeductible merger expenses | 72 | 6 | 318 | ||||||||||
Tax exempt income | (1,299 | ) | (1,008 | ) | (722 | ) | |||||||
Other permanent differences | 161 | (96 | ) | 154 | |||||||||
Provision for income taxes | $ | 6,058 | $ | 7,359 | $ | 2,306 | |||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred taxes at December 31 are as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets relating to: | |||||||||||||
Allowance for loan losses | $ | 2,990 | $ | 3,089 | |||||||||
Net unrealized losses on securities | - | 3,034 | |||||||||||
Unrealized loss on transferred securities | 766 | - | |||||||||||
Net unrealized losses on cash flow hedges | 909 | - | |||||||||||
Fair market value adjustments related to mergers | 10,362 | 12,018 | |||||||||||
Stock option expense | 2,754 | 2,524 | |||||||||||
Pre-opening costs and expenses | 242 | 276 | |||||||||||
Other real estate writedowns | 4,270 | 4,456 | |||||||||||
Deferred compensation | 3,730 | 3,560 | |||||||||||
AMT credit carry forward | 1,728 | 1,397 | |||||||||||
Net operating loss carry forwards | 11,539 | 12,032 | |||||||||||
Nonaccrual interest | - | 1,258 | |||||||||||
FDIC acquisitions | 3,261 | - | |||||||||||
Accrued incentive compensation | 795 | 706 | |||||||||||
Other | 2,934 | 1,088 | |||||||||||
Total deferred tax assets | 46,280 | 45,438 | |||||||||||
Deferred tax liabilities relating to: | |||||||||||||
Core deposit intangible | (4,086 | ) | (3,206 | ) | |||||||||
Net unrealized gains on securities | (786 | ) | - | ||||||||||
Net unrealized gains on cash flow hedges | - | (202 | ) | ||||||||||
Property and equipment | (2,644 | ) | (3,381 | ) | |||||||||
FDIC acquisitions | - | (437 | ) | ||||||||||
Deferred loan costs | (2,127 | ) | (1,131 | ) | |||||||||
Prepaid expenses | (446 | ) | (442 | ) | |||||||||
Other | (568 | ) | (321 | ) | |||||||||
Total deferred tax liabilities | (10,657 | ) | (9,120 | ) | |||||||||
Net recorded deferred tax asset | $ | 35,623 | $ | 36,318 | |||||||||
As of December 31, 2014 and December 31, 2013, the Company had a net DTA in the amount of approximately $35.6 million and $36.3 million, respectively. The decrease is primarily the result of $12.9 million in earnings during 2014. The Company adjusted its net deferred tax asset as a result of reductions in the North Carolina corporate income tax rate that were enacted July 23, 2013 and will become effective January 1, 2015. The lower corporate income tax rate resulted in a reduction in the deferred tax asset in 2014 and a decrease in current period income tax expense for the year ended December 31, 2014. | |||||||||||||
The Company evaluates the carrying amount of the DTA quarterly in accordance with the guidance provided in ASC 740, in particular applying the criteria set forth therein to determine whether it is more likely than not (i.e., a likelihood of more than 50%) that some portion, or all, of the DTA will not be realized within its life cycle, based on the weight of available evidence. In most cases, the realization of the DTA is dependent upon generating a sufficient level of taxable income in future periods, which can be difficult to predict. In addition to projected earnings, the Company also considers projected asset quality, liquidity, its strong capital position, which could be leveraged to increase earning assets and generate taxable income, its growth plans and other relevant factors. Based on the weight of available evidence, the Company determined that as of December 31, 2014 and December 31, 2013 that it is more likely than not that it will be able to fully realize the existing DTA and therefore considered it appropriate not to establish a DTA valuation allowance at either December 31, 2014 or December 31, 2013. | |||||||||||||
The Company had a federal net operating loss carryforward of $28.5 million and $28.0 million for the years ended December 31, 2014 and 2013, respectively, which expire in varying amounts through 2031. As a result of several acquisitions since 2011, Section 382 of the Internal Revenue Code (“Section 382”) places an annual limitation on the amount of federal net operating loss carryforwards the Company may utilize. Additionally, Section 382 limits the Company’s ability to utilize certain tax deductions such as realized built in losses (“RBIL”) due to the existence of net unrealized built-in losses (“NUBIL”) at the time of the change in control. The Company is allowed to carryforward any such RBIL under terms similar to those related to net operating losses. The Company expects all Section 382 limited carryforwards to be realized within the acceptable carryforward period. | |||||||||||||
The Company had state net operating loss carryforwards of $41.6 million and $46.0 million for the years ended December 31, 2014 and 2013, respectively, which expire in varying amounts through 2026. | |||||||||||||
As of December 31, 2014 and 2013, the Company had no material unrecognized tax benefits or accrued interest and penalties. It is the Company’s policy to account for interest and penalties accrued relative to unrecognized tax benefits as a component of income tax expense. | |||||||||||||
Federal and state tax returns for 2011 and subsequent tax years remain subject to examination by taxing authorities as of December 31, 2014. |
Note_13_Regulatory_Matters
Note 13 - Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 13 – REGULATORY MATTERS | ||||||||||||||||||||||||
The Company and Bank are 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 consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies. | |||||||||||||||||||||||||
The Bank’s mortgage banking division qualifies as a HUD-approved Title II Supervised Mortgagee and issues mortgages insured by the US Department of Housing and Urban Development (“HUD”). A Title II supervised mortgagee must maintain an adjusted net worth equal to a minimum of $1 million, plus 1% of FHA originations in excess of $25 million, up to a maximum of $2.5 million. Possible penalties related to noncompliance with this minimum net worth requirement include the revocation of the Bank’s license to issue HUD-insured mortgages, which may have a material adverse affect on the Company’s financial condition and results of operations. For the years ended December 31, 2014 and 2013, the Bank satisfied the requirement of maintaining $1 million in adjusted net worth. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank and the Company to maintain minimum amounts and ratios of different components of capital to risk-weighted assets and average assets. The Company’s capital position is reflected in its shareholders’ equity, subject to certain adjustments for regulatory purposes. In particular, deferred tax assets that are dependent on future taxable income do not qualify for inclusion as core capital based on the capital guidelines of the primary federal supervisory agencies for the Bank and the Company. Based on the capital guidelines in effect on December 31, 2014, the disallowed portion of deferred tax assets at December 31, 2014 was $27.7 million for the Company and $30.2 million for the Bank. The disallowed portion of deferred tax assets at December 31, 2013 was $27.7 million for the Company and $30.4 million for the Bank. | |||||||||||||||||||||||||
Risk-based capital regulations adopted by the Federal Reserve Board and the FDIC require bank holding companies and banks to achieve and maintain specified ratios of capital to risk-weighted assets. The risk-based capital rules are designed to measure different components of capital in relation to the credit risk of both on- and off-balance sheet items. Under the guidelines, one of four risk weights is applied to the different on-balance sheet items. Off-balance sheet items, such as loan commitments, are also subject to risk weighting after conversion to balance sheet equivalent amounts. These guidelines also specify that banks that are experiencing internal growth or making acquisitions will be expected to maintain capital positions substantially above the minimum supervisory levels. Under regulations in effect at December 31, 2014, the relevant components of capital consisted of Tier 1 capital (generally common shareholders’ equity, a limited amount of qualifying perpetual preferred stock and trust preferred securities, and minority interests in consolidated subsidiaries, net of goodwill and other intangible assets, deferred tax assets in excess of certain thresholds and certain other items), Tier 2 capital (generally certain preferred stock, mandatorily convertible debt securities and term subordinated debt) and total capital (consisting of Tier 1 and Tier 2 capital). Under these regulations, at December 31, 2014, banks were required to maintain a minimum total capital to total risk-weighted assets ratio of 8.00%, at least half of which was required to be in the form of Tier 1 capital. At December 31, 2014, the Company and the Bank both satisfied their minimum regulatory capital requirements and each was “well capitalized” within the meaning of federal regulatory requirements. | |||||||||||||||||||||||||
Management believes that, as of December 31, 2014 and 2013, the Company and the Bank meet all capital adequacy requirements to which they are subject, as set forth below: | |||||||||||||||||||||||||
Capital Ratios | |||||||||||||||||||||||||
To Be Well | |||||||||||||||||||||||||
For Capital | Capitalized Under | ||||||||||||||||||||||||
Adequacy | Prompt Corrective | ||||||||||||||||||||||||
Actual | Purposes | Actions Provisions | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Park Sterling Corporation | |||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 239,557 | 13.95 | % | $ | 137,360 | 8 | % | $ | 171,700 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 231,088 | 13.46 | % | 68,680 | 4 | % | 103,020 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 231,088 | 10.17 | % | 90,931 | 4 | % | 113,664 | 5 | % | ||||||||||||||||
2013 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 234,508 | 16.46 | % | $ | 113,966 | 8 | % | $ | 142,457 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 218,552 | 15.34 | % | 56,983 | 4 | % | 85,474 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 218,552 | 11.63 | % | 75,171 | 4 | % | 93,964 | 5 | % | ||||||||||||||||
Park Sterling Bank | |||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 224,579 | 13.11 | % | $ | 137,089 | 8 | % | $ | 171,361 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 216,110 | 12.61 | % | 68,544 | 4 | % | 102,817 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 216,110 | 9.56 | % | 90,394 | 4 | % | 112,993 | 5 | % | ||||||||||||||||
2013 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 209,786 | 14.77 | % | $ | 113,626 | 8 | % | $ | 142,033 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 193,830 | 13.65 | % | 56,813 | 4 | % | 85,220 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 193,830 | 10.41 | % | 74,477 | 4 | % | 93,096 | 5 | % | ||||||||||||||||
In July 2013, the regulatory agencies approved final regulatory capital rules that replace the existing general risk-based capital and related rules, broadly revising the basic definitions and elements of regulatory capital and making substantial changes to the credit risk weightings for banking and trading book assets. Under the new capital guidelines, applicable regulatory capital components consist of (1) common equity Tier 1 capital (common stock, including related surplus, and retained earnings, plus limited amounts of minority interest in the form of common stock, net of goodwill and other intangibles (other than mortgage servicing assets), deferred tax assets arising from net operating loss and tax credit carry forwards above certain levels, mortgage servicing rights above certain levels, gain on sale of securitization exposures and certain investments in the capital of unconsolidated financial institutions, and adjusted by unrealized gains or losses on cash flow hedges and accumulated other comprehensive income items (subject to the ability of a non-advanced approaches institution to make a one-time irrevocable election to exclude from regulatory capital most components of AOCI)), (2) additional Tier 1 capital (qualifying non-cumulative perpetual preferred stock, including related surplus, plus qualifying Tier 1 minority interest and, in the case of holding companies with less than $15 billion in consolidated assets at December 31, 2009, certain grandfathered trust preferred securities and cumulative perpetual preferred stock in limited amounts, net of mortgage servicing rights, deferred tax assets related to temporary timing differences, and certain investments in financial institutions) and (3) Tier 2 capital (the allowance for loan and lease losses in an amount not exceeding 1.25% of standardized risk-weighted assets, plus qualifying preferred stock, qualifying subordinated debt and qualifying total capital minority interest, net of tier 2 investments in financial institutions). Total Tier 1 capital, plus Tier 2 capital, constitutes total risk-based capital. The required minimum ratios are as follows: | |||||||||||||||||||||||||
● | common equity Tier 1 capital ratio (common equity Tier 1 capital to standardized total risk-weighted assets) of 4.5%; | ||||||||||||||||||||||||
● | Tier 1 capital ratio (Tier 1 capital to standardized total risk-weighted assets) of 6%; | ||||||||||||||||||||||||
● | total capital ratio (total capital to standardized total risk-weighted assets) of 8%; and | ||||||||||||||||||||||||
● | leverage ratio (Tier 1 capital to average total consolidated assets) of 4%. | ||||||||||||||||||||||||
Advanced approaches banking organizations (those organizations with either total assets of $250 billion or more, or with foreign exposure of $10 billion or more) also are subject to a supplementary leverage ratio that incorporates a broader set of exposures in the denominator. The new capital guidelines also provide that all covered banking organizations must maintain a new capital conservation buffer of common equity Tier 1 capital in an amount greater than 2.5% of total risk-weighted assets to avoid being subject to limitations on capital distributions and discretionary bonus payments to executive officers. Advanced approaches organizations also are subject to a countercyclical capital buffer. Failure to satisfy the capital buffer requirements would result in increasingly stringent limitations on various types of capital distributions, including dividends, share buybacks and discretionary payments on Tier 1 instruments, and discretionary bonus payments. | |||||||||||||||||||||||||
Non-advanced approaches banking organizations, including the Company and the Bank, must begin compliance with the new minimum capital ratios and the standardized approach for risk-weighted assets as of January 1, 2015, and the revised definitions of regulatory capital and the revised regulatory capital deductions and adjustments are being phased in over time for such organizations beginning as of that date. The capital conservation buffer will be phased in for all banking organizations beginning January 1, 2016. | |||||||||||||||||||||||||
Federal regulations require institutions to set aside specified amounts of cash as reserves against transaction and time deposits. At December 31, 2014 and 2013, the required cash reserves were satisfied by vault cash on hand and amounts due from correspondent banks. | |||||||||||||||||||||||||
On November 2, 2012, the Company announced a common stock repurchase program for up to 2.2 million shares. The original repurchase plan was in effect until November 1, 2014. On October 29, 2014, the Company’s board of directors approved a new share repurchase program. This plan is in effect for two years and permits the Company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and other derivative transactions. The specific timing and amount of repurchases depend on general market conditions, the trading of stock, regulatory, legal, and contractual requirements and the Company’s financial performance. During 2014, the Company repurchased 136,743 shares of Common Stock in open market transactions under the repurchase program at an average price of $6.56 and acquired 19,942 shares at an average price of $6.69 in connection with satisfaction of tax withholding obligations on vested restricted stock, and during 2013, the Company repurchased 56,267 common shares, at an average price of $6.46 per share in open market transactions under the repurchase program. | |||||||||||||||||||||||||
The Company must obtain Federal Reserve Board approval prior to repurchasing its Common Stock in excess of 10% of its net worth during any twelve-month period unless the Company (i) both before and after the redemption satisfies capital requirements for "well capitalized" state member banks; (ii) received a one or two rating in its last examination; and (iii) is not the subject of any unresolved supervisory issues. Although the payment of dividends and repurchase of stock by the Company are subject to certain requirements and limitations of North Carolina corporate law, except as set forth in this paragraph, neither the NC Commissioner nor the FDIC have promulgated any regulations specifically limiting the right of the Company to pay dividends or repurchase shares. However, the ability of the Company to pay dividends or repurchase shares may be dependent upon the Company's receipt of dividends from the Bank. | |||||||||||||||||||||||||
Under the laws of the State of North Carolina, provided the Bank does not make distributions that reduce its capital below its applicable required capital, the board of directors of the Bank may declare such distributions as the directors deem proper. As noted above, the Bank would also be prohibited from declaring any dividend the payment of which would result in the Bank becoming undercapitalized. Finally, an undercapitalized institution is generally prohibited from paying dividends to its shareholders. | |||||||||||||||||||||||||
As part of Citizens South’s Plan of Conversion and Reorganization in May 2002, it established a memo liquidation account in an amount equal to its equity at the time of the conversion of approximately $44 million for the benefit of eligible account holders and supplemental eligible account holders who continue to maintain their accounts at Citizens South Bank after the conversion. In accordance with the memo liquidation account, in the event of a complete liquidation of Citizens South Bank, each eligible account holder and supplemental eligible account holder would be entitled to receive a distribution from the liquidation account in an amount proportionate to the current adjusted qualifying balances for accounts then held. In connection with the Citizens South merger and the subsequent merger of Citizens South Bank into the Bank, the Bank assumed this memo liquidation account. This liquidation account is reviewed and adjusted annually. The value of the liquidation account was $7.6 million at both December 31, 2014 and 2013. |
Note_14_Preferred_Stock
Note 14 - Preferred Stock | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block Supplement [Abstract] | |
Preferred Stock [Text Block] | NOTE 14 – PREFERRED STOCK |
In connection with the Citizens South acquisition, the Company issued 20,500 shares of its Non-Cumulative Perpetual Preferred Stock, Series C (the “Series C Preferred Stock”) upon conversion of Citizens South’s preferred stock that previously was issued to the Treasury pursuant to a Securities Purchase Agreement between Citizens South and the Treasury in connection with Citizens South’s participation in the SBLF program. On September 30, 2013, the Company fully redeemed the 20,500 shares of the Series C Preferred Stock and exited the SBLF program. The Series C Preferred Stock, which had a liquidation value of $1,000 per share, was entitled to receive non-cumulative dividends, payable quarterly, at a rate determined by reference to the level of “Qualified Small Business Lending”. |
Note_15_Leases
Note 15 - Leases | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Leases [Abstract] | |||||
Leases of Lessee Disclosure [Text Block] | NOTE 15 – LEASES | ||||
The Company has noncancelable operating leases extending to the year 2026 pertaining to bank premises. Some of these leases provide for the payment of property taxes and insurance and contain various renewal options. These renewal options are at substantially the same basis as current rental terms. The exercise of these options is dependent on future events. Accordingly, the following summary does not reflect possible additional payments due if renewal options are not exercised. | |||||
Future minimum lease payments, by year and in the aggregate, under noncancelable operating leases with initial or remaining terms in excess of one year are as follows: | |||||
2015 | $ | 2,133 | |||
2016 | 1,869 | ||||
2017 | 1,243 | ||||
2018 | 1,073 | ||||
2019 | 926 | ||||
Thereafter | 4,699 | ||||
Total | $ | 11,944 | |||
Rent expense for the years ended December 31, 2014, 2013 and 2012 was $2.8 million, $1.3 million and $1.1 million, respectively. |
Note_16_Offbalance_Sheet_Risk
Note 16 - Off-balance Sheet Risk | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Off Balance Sheet Risk [Abstract] | |||||
Off Balance Sheet Risk [Text Block] | NOTE 16 – OFF-BALANCE SHEET RISK | ||||
In the normal course of business, the Company is party to financial instruments with off-balance sheet risk necessary to meet the financing needs of customers. These financial instruments include commitments to extend credit, undisbursed lines of credit and letters of credit. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the Consolidated Balance Sheets. The contract amounts of these instruments express the extent of involvement the Company has in these financial instruments. | |||||
Commitments to extend credit and undisbursed lines of credit are agreements to lend to a customer as long as there is no violation of conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. | |||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Commercial letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The fair value of these commitments is immaterial at December 31, 2014 and 2013. | |||||
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 creditworthiness 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 borrower. Collateral obtained varies but may include real estate, stocks, bonds, and certificates of deposit. In management’s opinion, these commitments represent no more than normal lending risk to the Company and will be funded from normal sources of liquidity. | |||||
A summary of the contract amount of the Company’s exposure to off-balance sheet risk as of December 31, 2014 is as follows: | |||||
Contractual | |||||
Amount | |||||
Financial instruments whose contract amounts represent credit risk: | |||||
Undisbursed lines of credit | $ | 328,293 | |||
Standby letters of credit | 5,402 | ||||
Commercial letters of credit | 717 | ||||
Note_17_Derivative_Financial_I
Note 17 - Derivative Financial Instruments and Hedging Activities | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 17 – DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES | ||||||||||||||||||||||||||
The Company uses certain derivative instruments, including interest rate floors and swaps, to meet the needs of its customers while managing the interest rate risk associated with certain transactions. The following table summarizes the derivative financial instruments utilized by the Company: | |||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||
Estimated Fair Value | Estimated Fair Value | ||||||||||||||||||||||||||
Balance Sheet | Notional | Notional | |||||||||||||||||||||||||
Location | Amount | Gain | Loss | Amount | Gain | Loss | |||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||
Pay fixed swaps | Other assets and other liabilities | $ | 70,000 | $ | - | $ | 2,414 | $ | 70,000 | $ | 545 | $ | - | ||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||
Pay fixed rate swaps with counterparty | Other liablities | $ | 24,792 | $ | - | $ | 440 | $ | 5,626 | $ | - | $ | 258 | ||||||||||||||
Not designated as hedges: | |||||||||||||||||||||||||||
Customer-related interest rate contracts: | |||||||||||||||||||||||||||
Matched interest rate swaps with borrower | Other assets | $ | 35,289 | $ | 1,154 | $ | - | $ | - | $ | - | $ | - | ||||||||||||||
Matched interest rate swaps with counterparty | Other liabilities | 35,289 | - | 1,154 | - | - | - | ||||||||||||||||||||
$ | 70,578 | $ | 1,154 | $ | 1,154 | $ | - | $ | - | $ | - | ||||||||||||||||
Total derviatives | $ | 165,370 | $ | 1,154 | $ | 4,008 | $ | 75,626 | $ | 545 | $ | 258 | |||||||||||||||
The Company entered into an interest rate swap agreement during October 2013 with a notional amount of $20.0 million. This derivative instrument is used to protect the Company from future interest rate risk on a portion of its floating rate FHLB borrowings. This derivative instrument is a $20.0 million three-year forward starting, five-year interest rate swap with an effective date of October 21, 2016. The instrument carries a fixed rate of 3.439% with quarterly payments commencing in January 2017. This derivative instrument is accounted for as a cash flow hedge with effective changes in fair market value recorded in other comprehensive income net of tax. This derivative instrument is carried at a fair market value of $(939) thousand and $298 thousand at December 31, 2014 and 2013, respectively, and is included in other liabilities at December 31, 2014 and other assets at December 31, 2013. As a result of the unfavorable position of the instrument at December 31, 2014, the Company posted collateral of approximately $939 thousand with the counterparty. | |||||||||||||||||||||||||||
The Company entered into three interest rate swap agreements during December 2013 with an aggregate notional amount of $50.0 million. These derivative instruments are used to protect the Company from future interest rate risk related to a seven-year commitment of floating rate broker-dealer sweep accounts through a brokered deposit program. These derivative instruments are a combination of a $12.5 million forward starting, five-year interest rate swap; a $12.5 million forward starting, seven-year interest rate swap; and a $25.0 million two-year forward starting swap. Effective dates for these derivative instruments are January 2, 2014, January 2, 2014 and January 4, 2016, respectively. These instruments carry a fixed rate of 1.688% with monthly payments commencing February 3, 2014, a fixed rate of 2.341% with monthly payments commencing February 3, 2014, and a fixed rate of 3.104% with monthly payments commencing February 1, 2016, respectively. These derivative instruments are accounted for as cash flow hedges with effective changes in fair market value recorded in other comprehensive income net of tax. These derivative instruments are carried at a fair market value of $(1.5) million and $247 thousand at December 31, 2014 and 2013, respectively, and are included in other liabilities at December 31, 2014 and other assets at December 31, 2013. As a result of the unfavorable position of the instruments at December 31, 2014, the Company posted collateral of approximately $1.5 million with the counterparty. | |||||||||||||||||||||||||||
At December 31, 2014, the Company had seven loan swaps accounted for as fair value hedges in accordance with ASC 815, Derivatives and Hedging. The aggregate original notional amount of these loan swaps was $26.1 million. These derivative instruments are used to protect the Company from interest rate risk caused by changes in the LIBOR curve in relation to certain designated fixed rate loans. The derivative instruments are used to convert these fixed rate loans to an effective floating rate. If the LIBOR rate is below the stated fixed rate of the loan for a given period, the Company will owe the floating rate payer the notional amount times the difference between LIBOR and the stated fixed rate. If LIBOR is above the stated rate for any given period during the term of the contract, the Company will receive payments based on the notional amount times the difference between LIBOR and the stated fixed rate. | |||||||||||||||||||||||||||
To meet the needs of the Company’s customers, the Company has entered into seven interest rate swap agreements to convert certain fixed-rate receivables to floating rates and certain fixed-rate obligations to floating rates. To offset this interest rate risk, the Company has entered into substantially identical agreements with a third party to swap these fixed rate agreements into variable rates. The interest rate swaps are used to provide fixed rate financing while managing interest rate risk and were not designated as hedges. The interest rate swaps pay and receive interest based on a floating rate based on one month LIBOR, with payments being calculated on the notional amount. The interest rate swaps are settled monthly, with varying maturities. There were no interest rate swap agreements to cover certain fixed-rate receivable to floating rates and certain fixed-rate obligations to floating rates at December 31, 2013. | |||||||||||||||||||||||||||
The interest rate swaps had a notional amount of $35.3 million at December 31, 2014, representing the amount of fixed-rate receivables outstanding and liabilities outstanding, and are included in other assets and other liabilities at their fair values of $1.2 million. All changes in fair value are recorded as other income within non-interest income. Fair values for interest rate swap agreements are based upon the amounts required to settle the contracts. At December 31, 2014, there was no impact to earnings as the changes in the fair value of both the fixed and variable legs of the swap completely offset each other. | |||||||||||||||||||||||||||
The following table details the location and amounts recognized in the Consolidated Statements of Income and Statement of Comprehensive Income: | |||||||||||||||||||||||||||
Effective Portion | |||||||||||||||||||||||||||
Pre-tax Gain (Loss) | Pre-tax Gain (Loss) Reclassified | ||||||||||||||||||||||||||
Recognized in OCI | Location of Amounts Reclassified | from AOCI into Income | |||||||||||||||||||||||||
2014 | 2013 | from AOCI into Income | 2014 | 2013 | |||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Interest rate contracts | $ | (3,381 | ) | $ | 545 | Total interest expense | $ | 422 | $ | - | |||||||||||||||||
Pre-tax Gain (Loss) | Pre-tax Gain (Loss) | ||||||||||||||||||||||||||
Recognized in OCI | Location of Amounts | Recognized in Income | |||||||||||||||||||||||||
2014 | 2013 | Recognized in Income | 2014 | 2013 | |||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||||
Pay fixed rate swaps with counterparty | - | - | Total interest income | $ | (261 | ) | $ | (175 | ) | ||||||||||||||||||
Not designated as hedges: | |||||||||||||||||||||||||||
Client-related interest rate contracts | - | - | Other income | $ | (78 | ) | $ | - | |||||||||||||||||||
$ | (339 | ) | $ | (175 | ) | ||||||||||||||||||||||
Note_18_Accumulated_Other_Comp
Note 18 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Comprehensive Income (Loss) Note [Text Block] | NOTE 18 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||||||
The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in gain (loss) on sale of securities available-for-sale in the accompanying consolidated statements of income. Amortization of net unrealized losses on securities transferred to held-to-maturity are included in interest income on taxable investment securities in the accompanying Consolidated Statements of Income. | |||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Before Tax Amount | Tax Expense (Benefit) | Net of Tax Amount | Before Tax Amount | Tax Expense (Benefit) | Net of Tax Amount | ||||||||||||||||||||
Securities available for sale and transferred securities: | |||||||||||||||||||||||||
Change in net unrealized gains (losses) during the period | $ | 10,464 | $ | 3,893 | $ | 6,571 | $ | (13,200 | ) | $ | (4,919 | ) | $ | (8,281 | ) | ||||||||||
Change in net unrealized loss on securities transferred to held to maturity | (2,055 | ) | (773 | ) | (1,282 | ) | - | - | - | ||||||||||||||||
Reclassification adjustment for net gains recognized in net income | (180 | ) | (67 | ) | (113 | ) | (98 | ) | (36 | ) | (62 | ) | |||||||||||||
Total securities available for sale and transferred securities | 8,229 | 3,053 | 5,176 | (13,298 | ) | (4,955 | ) | (8,343 | ) | ||||||||||||||||
Derivatives: | |||||||||||||||||||||||||
Change in the accumulated loss on effective cash flow hedge derivatives | (3,381 | ) | (1,269 | ) | (2,112 | ) | 545 | 202 | 343 | ||||||||||||||||
Reclassification adjustment for interest payments | 422 | 159 | 263 | - | - | - | |||||||||||||||||||
Total derivatives | (2,959 | ) | (1,110 | ) | (1,849 | ) | 545 | 202 | 343 | ||||||||||||||||
Total other comprehensive income (loss) | $ | 5,270 | $ | 1,943 | $ | 3,327 | $ | (12,753 | ) | $ | (4,753 | ) | $ | (8,000 | ) | ||||||||||
The following table presents activity in accumulated other comprehensive income (loss), net of tax, by component for the periods indicated. | |||||||||||||||||||||||||
Securities Available for Sale | Securities Transferred from Available for Sale to Held to Maturity | Derivatives | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||
Balance, January 1, 2014 | $ | (5,145 | ) | $ | - | $ | 343 | $ | (4,802 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | 5,289 | - | (2,112 | ) | 3,177 | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (113 | ) | - | 263 | 150 | ||||||||||||||||||||
Transfer of securities from available for sale to held to maturity | 1,282 | (1,282 | ) | - | - | ||||||||||||||||||||
Net other comprehensive income (loss) during the period | 6,458 | (1,282 | ) | (1,849 | ) | 3,327 | |||||||||||||||||||
Balance, December 31, 2014 | $ | 1,313 | $ | (1,282 | ) | $ | (1,506 | ) | $ | (1,475 | ) | ||||||||||||||
Balance, January 1, 2013 | $ | 3,198 | $ | - | $ | - | $ | 3,198 | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (8,281 | ) | - | 343 | (7,938 | ) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (62 | ) | - | - | (62 | ) | |||||||||||||||||||
Net other comprehensive income (loss) during the period | (8,343 | ) | - | 343 | (8,000 | ) | |||||||||||||||||||
Balance, December 31, 2013 | $ | (5,145 | ) | $ | - | $ | 343 | $ | (4,802 | ) | |||||||||||||||
Note_19_Fair_Value_of_Financia
Note 19 - Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value Disclosures [Text Block] | NOTE 19 – FAIR VALUE OF FINANCIAL INSTRUMENTS | ||||||||||||||||||||
The Company is required to disclose the estimated fair value of financial instruments, both assets and liabilities on and off the balance sheet, for which it is practicable to estimate fair value. These fair value estimates are made at each balance sheet date, based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price at which an asset could be sold or the price for which a liability could be settled in an orderly transaction between market participants at the measurement date. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The methodologies used for estimating the fair value of financial assets and financial liabilities are discussed below: | |||||||||||||||||||||
Cash and Cash Equivalents –Cash and cash equivalents, which are comprised of cash and due from banks, interest-earning balances at banks and Federal funds sold, approximate their fair value. | |||||||||||||||||||||
Investment SecuritiesAvailable-for-Saleand Investment Securities Held-to-Maturity -Fair value for investment securities is based on the quoted market price if such information is available. If a quoted market price is not available, fair values are based on quoted market prices of comparable instruments. | |||||||||||||||||||||
Nonmarketable Equity Securities –Cost is a reasonable estimate of fair value for nonmarketable equity securities because no quoted market prices are available and the securities are not readily marketable. The carrying amount is adjusted for any other than temporary declines in value. | |||||||||||||||||||||
Loans Held for Sale -For certain homogenous categories of loans, such as residential mortgages, fair value is estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. | |||||||||||||||||||||
Loans, net of allowance- The fair value of other types of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Further adjustments are made to reflect current market conditions. There is no discount for liquidity included in the expected cash flow assumptions. | |||||||||||||||||||||
FDIC Indemnification Asset – The fair values for the FDIC indemnification asset are estimated based on discounted future cash flows using current discount rates. | |||||||||||||||||||||
Accrued Interest Receivable -The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Deposits -The fair value of deposits with no stated maturities, including demand deposits, savings, money market and NOW accounts, is the amount payable on demand at the reporting date. The fair value of deposits that have stated maturities, primarily time deposits, is estimated by discounting expected cash flows using the rates currently offered for instruments of similar remaining maturities. | |||||||||||||||||||||
Borrowings -The fair values of short-term and long-term borrowings are based on discounting expected cash flows at the interest rate for debt with the same or similar remaining maturities and collateral requirements. | |||||||||||||||||||||
Subordinated Debentures – The fair value of fixed rate subordinated debentures is estimated using a discounted cash flow calculation that applies the Company’s current borrowing rate. The carrying amounts of variable rate borrowings are reasonable estimates of fair value because they can reprice frequently. | |||||||||||||||||||||
Accrued Interest Payable -The carrying amount is a reasonable estimate of fair value. | |||||||||||||||||||||
Derivative Instruments – Derivative instruments, including interest rate swaps and swap fair value hedges, are recorded at fair value on a recurring basis. Fair value measurement is based on discounted cash flow models. All future floating cash flows are projected and both floating and fixed cash flows are discounted to the valuation date. | |||||||||||||||||||||
Financial Instruments with Off-Balance Sheet Risk -With regard to financial instruments with off-balance sheet risk discussed in Note 16 – Off-Balance Sheet Risk, it is not practicable to estimate the fair value of future financing commitments. | |||||||||||||||||||||
The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available-for-sale and derivative instruments are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record other assets at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. | |||||||||||||||||||||
The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. | |||||||||||||||||||||
Level 1 | Valuation is based upon quoted prices for identical instruments traded in active markets. | ||||||||||||||||||||
Level 2 | Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. | ||||||||||||||||||||
Level 3 | Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques may include the use of option pricing models, discounted cash flow models and similar techniques. | ||||||||||||||||||||
The carrying amounts and estimated fair values of the Company’s financial instruments, none of which are held for trading purposes, are as follows at December 31: | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
Carrying | Estimated | Quoted Prices in Active Markets for Identical Assets or Liabilities | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
Amount | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
December 31, 2014: | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 51,390 | $ | 51,390 | $ | 51,390 | $ | - | $ | - | |||||||||||
Investment securities available-for-sale | 375,683 | 375,683 | 1,712 | 372,401 | 1,570 | ||||||||||||||||
Investment securities held-to-maturity | 115,741 | 117,627 | - | 117,627 | - | ||||||||||||||||
Nonmarketable equity securities | 11,532 | 11,532 | - | 11,532 | - | ||||||||||||||||
Loans held for sale | 11,602 | 11,602 | - | 11,602 | - | ||||||||||||||||
Loans, net of allowance | 1,572,431 | 1,514,294 | - | 28,800 | 1,485,494 | ||||||||||||||||
FDIC indemnification asset | 3,964 | 3,802 | - | - | 3,802 | ||||||||||||||||
Accrued interest receivable | 4,467 | 4,467 | - | 4,467 | - | ||||||||||||||||
Derivative instruments | 1,154 | 1,154 | - | 1,154 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits with no stated maturity | 1,309,973 | 1,309,973 | - | 1,309,973 | - | ||||||||||||||||
Deposits with stated maturities | 541,381 | 543,728 | - | 543,728 | - | ||||||||||||||||
Borrowings | 203,583 | 203,207 | - | 203,207 | - | ||||||||||||||||
Accrued interest payable | 398 | 398 | - | 398 | - | ||||||||||||||||
Derivative instruments | 4,008 | 4,008 | - | 4,008 | - | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 55,067 | $ | 55,067 | $ | 55,067 | $ | - | $ | - | |||||||||||
Investment securities available-for-sale | 349,491 | 349,491 | 1,906 | 347,585 | - | ||||||||||||||||
Investment securities held-to-maturity | 51,972 | 51,334 | - | 51,334 | - | ||||||||||||||||
Nonmarketable equity securities | 5,905 | 5,905 | - | 5,905 | - | ||||||||||||||||
Loans held for sale | 2,430 | 2,430 | - | 2,430 | - | ||||||||||||||||
Loans, net of allowance | 1,286,977 | 1,267,349 | - | 5,884 | 1,261,465 | ||||||||||||||||
FDIC indemnification asset | 10,025 | 10,025 | - | - | 10,025 | ||||||||||||||||
Accrued interest receivable | 4,222 | 4,222 | - | 4,222 | - | ||||||||||||||||
Derivative instruments | 545 | 545 | - | 545 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits with no stated maturity | 1,055,457 | 1,055,457 | - | 1,055,457 | - | ||||||||||||||||
Deposits with stated maturities | 544,428 | 545,111 | - | 545,111 | - | ||||||||||||||||
Borrowings | 78,048 | 77,899 | - | 77,899 | - | ||||||||||||||||
Accrued interest payable | 412 | 412 | - | 412 | - | ||||||||||||||||
Derivative instruments | 258 | 258 | - | 258 | - | ||||||||||||||||
The following is a description of valuation methodologies used for assets and liabilities recorded at fair value: | |||||||||||||||||||||
Investment Securities -Investment securities available-for-sale are recorded at fair value on a recurring basis. Investment securities held-to-maturity are valued at quoted market prices or dealer quotes similar to securities available for sale. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, United States Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include MBS issued by government-sponsored entities or private label entities, municipal bonds and corporate debt securities that are valued using quoted prices for similar instruments in active markets. Securities classified as Level 3 include a corporate debt security in a less liquid market whose value is determined by reference to the going rate of a similar debt security if it were to enter the market at period end. The derived market value requires significant management judgment and is further substantiated by discounted cash flow methodologies. | |||||||||||||||||||||
Derivative Instruments -Derivative instruments held or issued by the Company for risk management purposes are traded in over-the-counter markets where quoted market prices are not readily available. For those derivatives, the Company uses a third party to measure the fair value on a recurring basis. The Company classifies derivative instruments held or issued for risk management purposes as Level 2. As of December 31, 2014, the Company’s derivative instruments consist of interest rate swaps and swap fair value hedges, and as of December 31, 2013, the Company’s derivative instruments consist of swap fair value hedges. | |||||||||||||||||||||
Loans - Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures it for the estimated impairment. The fair value of impaired loans is estimated using one of several methods, including collateral value, discounted cash flows or a pooled probability of default and loss given default calculation. Those impaired loans not requiring a specific allowance represent loans for which the fair value exceeds the recorded investments in such loans. Impaired loans where a specific allowance is established based on the fair value of collateral require classification in the fair value hierarchy. The Company records such impaired loans as nonrecurring Level 3. | |||||||||||||||||||||
The Company recorded the seven loans involved in fair value hedges at fair market value on a recurring basis. The Company does not record other loans at fair value on a recurring basis. | |||||||||||||||||||||
Loans held for sale – Loans held for sale are adjusted to lower of cost or market upon transfer from the loan portfolio to loans held for sale. Subsequently, loans held for sale are carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised values of the collateral, management’s estimation of the value of the collateral or commitments on hand from investors within the secondary market for loans with similar characteristics. The fair value adjustments for loans held for sale are recorded as nonrecurring Level 2. | |||||||||||||||||||||
Other real estate owned - OREO is adjusted to fair value upon transfer of the loans to OREO. Subsequently, OREO is carried at the lower of carrying value or fair value less costs to sell. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is measured due to further deterioration in the value of the OREO since initial recognition, the Company records the foreclosed asset as nonrecurring Level 3. | |||||||||||||||||||||
Assets and Liabilities Recorded at Fair Value on a Recurring Basis | |||||||||||||||||||||
The following table sets forth by level, within the fair value hierarchy, the Company’s assets and liabilities at fair value on a recurring basis at December 31, 2014 and 2013: | |||||||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||||||
Active Markets for | Other | ||||||||||||||||||||
Identical | Observable | Unobservable | Assets/ | ||||||||||||||||||
Assets | Inputs | Inputs | Liabilities | ||||||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | at Fair Value | |||||||||||||||||
2014 recurring | |||||||||||||||||||||
U.S. Government agencies | $ | - | $ | 537 | $ | - | $ | 537 | |||||||||||||
Municipal securities | - | 12,851 | - | 12,851 | |||||||||||||||||
Residential agency pass-through securities | - | 147,015 | - | 147,015 | |||||||||||||||||
Residential collateralized mortgage obligations | - | 144,080 | - | 144,080 | |||||||||||||||||
Commercial mortgage-backed obligations | - | 4,868 | - | 4,868 | |||||||||||||||||
Asset-backed securities | - | 61,050 | - | 61,050 | |||||||||||||||||
Corporate and other securities | - | 2,000 | 1,570 | 3,570 | |||||||||||||||||
All other equity securities | 1,712 | - | - | 1,712 | |||||||||||||||||
Fair value loans | - | 28,800 | - | 28,800 | |||||||||||||||||
Derivative instruments | - | (2,854 | ) | - | (2,854 | ) | |||||||||||||||
2013 recurring | |||||||||||||||||||||
U.S. Government agencies | $ | - | $ | 558 | $ | - | $ | 558 | |||||||||||||
Municipal securities | - | 16,506 | - | 16,506 | |||||||||||||||||
Residential agency pass-through securities | - | 90,248 | - | 90,248 | |||||||||||||||||
Residential collateralized mortgage obligations | - | 103,349 | - | 103,349 | |||||||||||||||||
Commercial mortgage-backed obligations | - | 61,402 | - | 61,402 | |||||||||||||||||
Asset-backed securities | - | 71,077 | - | 71,077 | |||||||||||||||||
Corporate and other securities | - | 4,445 | - | 4,445 | |||||||||||||||||
All other equity securities | 1,906 | - | - | 1,906 | |||||||||||||||||
Fair value loans | - | 5,884 | - | 5,884 | |||||||||||||||||
Derivative instruments | - | 287 | - | 287 | |||||||||||||||||
Securities measured on a Level 3 recurring basis at December 31, 2014 include a corporate debt security whose value is determined by the going rate of a similar debt security if it were to enter the market at period end with additional liquidity discounts applied due to a smaller available market. | |||||||||||||||||||||
At December 31, 2013, the Company transferred a corporate debt security investment from Level 3 to Level 2. In December 2013, the Company received notice that this corporate debt security would be satisfied at its book value in January 2014. The full book value of this security was received on January 31, 2014. Valuation techniques are consistent with techniques used in prior periods. Other than the corporate debt security discussed above, there were no transfers between valuation levels for any accounts for the years ended December 31, 2014 and 2013. If different valuation techniques are deemed necessary, the transfers will be considered to occur at the end of the period that the accounts are valued. | |||||||||||||||||||||
The following is a reconciliation of the beginning and ending balances for assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2014 and 2013. | |||||||||||||||||||||
Securities | |||||||||||||||||||||
Available | |||||||||||||||||||||
For Sale | |||||||||||||||||||||
Fair value, January 1, 2013 | $ | 415 | |||||||||||||||||||
Transfer out of level 3 | (415 | ) | |||||||||||||||||||
Fair value, December 31, 2013 | $ | - | |||||||||||||||||||
Security acquired from Provident Community | 1,435 | ||||||||||||||||||||
Change in unrealized gain recognized in other comprehensive income | 135 | ||||||||||||||||||||
Fair value, December 31, 2014 | $ | 1,570 | |||||||||||||||||||
Assets Recorded at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||
The Company may be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower of cost or market accounting or impairment charges of individual assets. Processes are in place for overseeing the valuation procedures for Level 3 measurements of OREO and impaired loans. The assets are reviewed on a quarterly basis to determine the accuracy of the observable inputs, generally third party appraisals, auction values, values derived from trade publications and data submitted by the borrower, and the appropriateness of the unobservable inputs, generally discounts due to current market conditions and collection issues. Discounts are based on asset type and valuation source; deviations from the standard are documented. The discounts are periodically reviewed to determine whether they remain appropriate. Consideration is given to current trends in market values for the asset categories and gain and losses on sales of similar assets. | |||||||||||||||||||||
Discounts range from 0% to 100% depending on the nature of the assets and source of value. Real estate is valued based on appraisals or evaluations, discounted by 8% at a minimum with higher discounts for property in poor condition or property with characteristics that may make it more difficult to market. Commercial loans secured by receivables or non-real estate collateral are generally valued using the discounted cash flow method. Inputs are determined on a borrower-by-borrower basis. | |||||||||||||||||||||
Impaired loans and related write-downs are based on the fair value of the underlying collateral if repayment is expected solely from the collateral or using a pooled probability of default and loss given default calculation. Collateral values are reviewed quarterly and estimated using customized discounting criteria and appraisals. | |||||||||||||||||||||
Other real estate owned is based on the lower of the cost or fair value of the underlying collateral less expected selling costs. Collateral values are estimated primarily using appraisals and reflect a market value approach. Fair values are reviewed quarterly and new appraisals are generally obtained annually. | |||||||||||||||||||||
The following table sets forth by level, within the fair value hierarchy, the Company’s assets at fair value on a nonrecurring basis at December 31, 2014 and 2013: | |||||||||||||||||||||
Fair Value on a Nonrecurring Basis | |||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||
Markets for | Other | Significant | |||||||||||||||||||
Identical | Observable | Unobservable | Assets/ | ||||||||||||||||||
Assets | Inputs | Inputs | (Liabilities) | ||||||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | at Fair Value | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
OREO | $ | - | $ | - | $ | 7,408 | $ | 7,408 | |||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | - | - | 208 | 208 | |||||||||||||||||
CRE - owner-occupied | - | - | 56 | 56 | |||||||||||||||||
CRE - investor income producing | - | - | 353 | 353 | |||||||||||||||||
AC&D - lots, land, & development | - | - | - | - | |||||||||||||||||
Other commercial | - | - | 148 | 148 | |||||||||||||||||
Residential mortgage | - | - | 954 | 954 | |||||||||||||||||
HELOC | - | - | 570 | 570 | |||||||||||||||||
Residential construction | - | - | 357 | 357 | |||||||||||||||||
Other loans to individuals | - | - | 78 | 78 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
OREO | $ | - | $ | - | $ | 9,085 | $ | 9,085 | |||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | - | - | 69 | 69 | |||||||||||||||||
CRE - owner-occupied | - | - | 73 | 73 | |||||||||||||||||
CRE - investor income producing | - | - | 2,659 | 2,659 | |||||||||||||||||
Other commercial | - | - | 93 | 93 | |||||||||||||||||
Residential mortgage | - | - | 510 | 510 | |||||||||||||||||
HELOC | - | - | 184 | 184 | |||||||||||||||||
Residential construction | - | - | 34 | 34 | |||||||||||||||||
Other loans to individuals | - | - | 1 | 1 | |||||||||||||||||
The following table presents the decrease in value of OREO, which is measured at fair value on a nonrecurring basis, for which a fair value adjustment has been included in the income statement. These items represent write-downs of OREO based on the appraised value of collateral. | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
OREO | $ | (604 | ) | $ | (1,394 | ) | |||||||||||||||
In accordance with accounting for foreclosed property, the carrying value of OREO is periodically reviewed and written down to fair value and any loss is incurred in earnings. During the year ended December 31, 2014, OREO with a carrying value of $8.1 million was written down by $604 thousand to $7.4 million. During the year ended December 31, 2013, OREO with a carrying value of $5.6 million was written down by $1.4 million to $4.2 million. | |||||||||||||||||||||
The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis at December 31, 2014. | |||||||||||||||||||||
Weighted | |||||||||||||||||||||
Fair Value | Valuation Methodology | Unobservable Inputs | Range of Inputs | Average Discount | |||||||||||||||||
OREO | $ | 7,408 | Appraisals | Discount to reflect current | 0% - 59 | % | 3.68 | % | |||||||||||||
market conditions | |||||||||||||||||||||
Impaired loans | 1,744 | Probability of default | Discount to reflect probability | 0% - 100 | % | 12.99 | % | ||||||||||||||
model | and loss given default | ||||||||||||||||||||
980 | Collateral based | Discount to reflect current | 0% - 100 | % | 38.32 | % | |||||||||||||||
measurements | market conditions and | ||||||||||||||||||||
ultimate collectability | |||||||||||||||||||||
$ | 10,132 | ||||||||||||||||||||
Note_20_Employee_and_Director_
Note 20 - Employee and Director Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | NOTE 20 – EMPLOYEE AND DIRECTOR BENEFIT PLANS | ||||||||||||||||||||||||
Employment Contracts -Employment agreements are used from time to time to ensure a stable and competent management base. The Company’s Chief Executive Officer, Chief Financial Officer, President, and Chief Risk Officer are each subject to an employment agreement. Each executive’s agreement is for an initial term of three years and is subject to automatic one-year renewals on the third anniversary of its initial effective date and each successive anniversary unless either party provides timely notice of non-renewal. The agreements provide for benefits as spelled out in the contracts and cannot be terminated by the Board of Directors, except for cause, without prejudicing the officers’ rights to receive certain vested rights, including compensation. In the event of a change in control of the Company and in certain other events, as defined in the agreements, the Company or any successor to the Company will be bound to the terms of the contracts. | |||||||||||||||||||||||||
The Company has inherited from its mergers a number of individual deferred compensation and supplemental retirement agreements with certain employees, former employees and former directors who were previously officers or directors of the predecessor company that provide for salary continuation benefits upon retirement. These individual agreements also provide for benefits in the event of early retirement, death or substantial change in control of the Company. The expense associated with these plans was $431 thousand, $460 thousand and $57 thousand for the years ended December 31, 2014, 2013 and 2012, respectively. The total liability associated with these assumed supplemental retirement plans was $8.3 million and $8.4 million as of December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||
To assist funding the above liabilities, the acquired entities had insured the lives of certain current and former directors and officers. Earnings on those policies are used to offset employee benefit expenses. The Company also purchased and owns Bank-Owned Life Insurance (“BOLI”) policies on certain key officers of the Company, including the Chief Executive Officer, the Chief Financial Officer, the President and the Chief Risk Officer. The Company is the current owner and beneficiary of the policies and has the right to exercise all incidents of ownership. Cash surrender values of BOLI policies, including BOLI policies acquired in mergers, at December 31, 2014 and 2013 were $57.7 million and $47.8 million, respectively. In 2014, the Company received $1.1 million in death proceeds from two policies, resulting in $651 thousand of additional noninterest income. There were no death proceeds received in 2013 or 2012. | |||||||||||||||||||||||||
Certain BOLI policies acquired through mergers are subject to split dollar arrangements, wherein under separate agreement with the insured party, the insured party has the right to designate a beneficiary for an amount equal to 50 percent of the difference between the total policy death proceeds and the policy cash surrender value at the date of the employee’s death up to $100,000. For these split dollar arrangements, once vested in the benefit, the insured party has the right to continue to designate a beneficiary after retirement from the Company. As a result, the Company has recognized a liability as the split dollar arrangement effectively provides a post-employment retirement benefit after separation of service from the Company. The liability accrued for split dollar agreements that provide a post-retirement benefit at December 31, 2014 and 2013 was $2.0 million and $1.7 million, respectively. The expense associated with these split dollar arrangements was $304 thousand and $61 thousand for the years ended December 31, 2014 and 2013, respectively. The expense for the year ended December 31, 2012 was immaterial. | |||||||||||||||||||||||||
During 2013, the Company implemented a deferred compensation plan whereby certain employees and directors are given the option to defer compensation until retirement or separation of employment. Interest is accrued on the balances at a rate of 3.25%. The expense associated with this plan was $23 thousand and $5 thousand for the years ended December 31, 2014 and 2013, respectively. The total liability accrued for the deferred compensation plan was $871 thousand and $328 thousand at December 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||
Retirement Savings - The Company has a profit sharing and 401(k) plan for the benefit of substantially all employees subject to certain minimum age and service requirements. Under this plan, the Company matches 100% of employee contributions to a maximum of 3% of annual compensation and 50% of employee contributions greater than 3% to a maximum of 6% of annual compensation, up to an annual compensation generally equal to the Internal Revenue Service’s compensation threshold in effect from time to time. At December 31, 2014 and 2013, the Company’s profit sharing and 401(k) plan owned 88,411, and 141,760 shares, respectively, of the Company’s Common Stock as a result of an investment election allowed under the Community Capital 401(k) savings plan, which has been merged into the Company’s plan. The Company no longer offers the Company’s Common Stock as an investment option in its 401(k) plan and effective February 3, 2015, all Company stock will be liquidated in the Company’s 401(k) plan. The estimated value of the shares held at December 31, 2014 and 2013 was $650 thousand and $1.0 million, respectively. | |||||||||||||||||||||||||
The Company’s contribution expense under the profit sharing and 401(k) plan was $1.1 million, $912 thousand and $685 thousand for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Share Based Plans -The Company maintains share-based plans for directors and employees. During 2010, the Board of Directors of the Bank adopted and shareholders approved, the Park Sterling Bank 2010 Stock Option Plan for Directors and the Park Sterling Bank 2010 Employee Stock Option Plan (the “2010 Plans”), which provided for an aggregate of 1,859,550 shares of Common Stock reserved for the granting of options. The 2010 Plans were substantially similar to the 2006 option plans for directors and employees, which provided for an aggregate of 990,000 of shares of Common Stock reserved for options. Upon effectiveness of the holding company reorganization, the Company assumed all outstanding options under the 2010 Plans and the 2006 plans, and the Company’s Common Stock was substituted as the stock issuable upon the exercise of options under these plans. As a result, there will be no further awards under the 2010 Plans. At December 31, 2014, there were options to purchase 1,890,397 shares of Common Stock outstanding under these plans. | |||||||||||||||||||||||||
Also during 2010, the Board of Directors of the Company adopted and shareholders approved the Park Sterling Corporation 2010 Long-Term Incentive Plan for directors and employees ( the “2010 LTIP”), which was effective upon the holding company reorganization and replaced the 2010 Plans. The 2010 LTIP provided for an aggregate of 1,016,400 of shares of Common Stock reserved for issuance to employees and directors in connection with stock options, restricted stock awards, and other stock-based awards. At December 31, 2014, there were options to purchase 115,007 shares of Common Stock and 761,132 unvested restricted stock awards outstanding under the 2010 LTIP. The 2010 LTIP was frozen upon effectiveness of the Company’s 2014 Long Term Incentive Plan (described below), and no future awards may be made thereunder. | |||||||||||||||||||||||||
In March 2014, the Board of Directors of the Company adopted and in May 2014 shareholders approved the Park Sterling Corporation 2014 Long-Term Incentive Plan for directors and employees (the “2014 LTIP”), which replaced the 2010 LTIP. An aggregate of 1,000,000 of shares of Common Stock, plus any shares subject to an award granted under the 2010 LTIP that was outstanding on March 26, 2014 that may expire, be forfeited or otherwise terminate unexercised, have been reserved for issuance to employees and directors under the 2014 LTIP in connection with stock options, restricted stock awards, and other stock-based awards. The 2014 LTIP will expire on May 23, 2024 and no awards may be made after that date. At December 31, 2014, there were 159,963 unvested restricted stock awards outstanding under the 2014 LTIP. | |||||||||||||||||||||||||
As a result of the Citizens South merger, at the effective date of the merger, the Company assumed the awards outstanding under the Citizens South Bank 1999 Stock Option Plan (the “1999 Citizens South Plan”), the Citizens South Banking Corporation 2003 Stock Option Plan (the “2003 Citizens South Plan”) and the Citizens South Banking Corporation 2008 Equity Incentive Plan ( the “2008 Citizens South Plan”), each of which has been renamed as a Park Sterling Corporation plan. | |||||||||||||||||||||||||
In addition, under the 2003 Citizens South Plan and the 2008 Citizens South Plan, the Company retained the right to grant future non-qualified stock options and, in the case of the 2008 Citizens South Plan, stock appreciation rights (“SARs”) to eligible employees and directors of, or in the case of the 2008 Citizens South Plan service providers to, the Company or the Bank who were not employees or directors of or service providers to the Company or the Bank at the effective time of the merger. Stock options and SARS are evidenced by an award agreement that specifies, as applicable, the number of shares, date of grant, exercise price, vesting period and expiration date, and other information. Awards under the these plans have an exercise price at least equal to the fair market value of the Common Stock on the grant date, cannot be exercised more than 10 years after the grant date and generally expire or are forfeited upon termination of employment prior to the end of the award term, except in limited circumstances such as death, disability, retirement or change in control. At December 31, 2014, there were options to purchase 12,431 shares of Common Stock outstanding under the 2003 Citizens South Plan and options to purchase 152,892 shares of Common Stock outstanding under the 2008 Citizens South Plan. The 2003 Citizens South Plan expired by its terms in May 2013, and the 2008 Citizens South Plan was frozen in May 2014 upon effectiveness of the 2014 LTIP. As a result, no future awards may be made under these plans. | |||||||||||||||||||||||||
The 1999 Citizens South Plan was frozen at the time of merger, and no future awards could be granted under this plan thereafter. At December 31, 2014, there were options to purchase 630 shares of Common Stock outstanding under the 1999 Citizens South Plan. | |||||||||||||||||||||||||
The exercise price of each option under these plans is not less than the market price of the Company’s Common Stock on the date of the grant. The exercise price of all options outstanding at December 31, 2014 under these plans ranges from $3.04 to $15.45 and the average exercise price was $7.40. The Company funds the option shares from authorized but unissued shares. The Company does not typically purchase shares to fulfill the obligations of the stock benefit plans. Options granted become exercisable in accordance with the plans’ vesting schedules which are generally three years. All unexercised options expire ten years after the date of the grant. | |||||||||||||||||||||||||
As contemplated during the Public Offering, in 2011 the Company awarded certain stock price performance-based restricted shares under the 2010 LTIP to officers and directors following the holding company reorganization. During 2013, 13,860 of these restricted shares were forfeited, and there were no forfeitures of these restricted shares during 2014. At December 31, 2014, there were 554,400 stock price performance-based restricted shares outstanding, which will vest one-third each when the Company’s stock price per share reaches the following performance thresholds for 30 consecutive trading days: (i) 125% of offer price ($8.13); (ii) 140% of offer price ($9.10); and (iii) 160% of offer price ($10.40). These anti-dilutive restricted shares are issued (and thereby have voting rights), but are not included in earnings per share calculations until they vest (and thereby have economic rights). | |||||||||||||||||||||||||
Activity in the Company’s share-based plans is summarized in the following tables: | |||||||||||||||||||||||||
Outstanding Options | |||||||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Number | Exercise | Non-Vested | Exercise | Contractual | Intrinsic | ||||||||||||||||||||
Outstanding | Price | Options | Price | Term (Years) | Value | ||||||||||||||||||||
At December 31, 2011 | 2,145,189 | $ | 7.62 | 1,037,771 | $ | 2.59 | 7.67 | $ | 7,045 | ||||||||||||||||
Options acquired through merger | 990,278 | 8.33 | - | - | |||||||||||||||||||||
Options granted | 15,000 | 4.65 | 15,000 | 4.65 | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired and forfeited | (30,775 | ) | 7.94 | (30,775 | ) | 7.94 | |||||||||||||||||||
Options vested | - | - | (471,804 | ) | 1.03 | ||||||||||||||||||||
At December 31, 2012 | 3,119,692 | $ | 7.84 | 550,192 | $ | 6.28 | 5.27 | $ | 102,762 | ||||||||||||||||
Options granted | - | - | - | - | |||||||||||||||||||||
Options exercised | (60,942 | ) | 5.09 | - | - | ||||||||||||||||||||
Expired and forfeited | (833,199 | ) | 9.34 | (1,667 | ) | 4.99 | |||||||||||||||||||
Options vested | - | - | (499,079 | ) | 6.39 | ||||||||||||||||||||
At December 31, 2013 | 2,225,551 | $ | 7.35 | 49,446 | $ | 5.19 | 5.65 | $ | 1,471,095 | ||||||||||||||||
Options granted | 17,500 | 6.7 | 17,500 | 6.7 | |||||||||||||||||||||
Options exercised | (54,199 | ) | 4.67 | - | - | ||||||||||||||||||||
Expired and forfeited | (17,495 | ) | 9.07 | (3,333 | ) | 4.46 | |||||||||||||||||||
Options vested | - | - | (42,780 | ) | 5.28 | ||||||||||||||||||||
At December 31, 2014 | 2,171,357 | $ | 7.4 | 20,833 | $ | 6.39 | 4.69 | $ | 1,668,621 | ||||||||||||||||
Exercisable at December 31, 2014 | 2,150,523 | $ | 7.41 | 4.65 | |||||||||||||||||||||
Nonvested Restricted Shares | |||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | Aggregate | ||||||||||||||||||||||||
Number | Grant Date | Intrinsic | |||||||||||||||||||||||
Outstanding | Fair Value | Value | |||||||||||||||||||||||
At December 31, 2011 | 568,260 | $ | 3.91 | $ | 2,318,501 | ||||||||||||||||||||
Restricted shares granted | 78,000 | 4.75 | 407,940 | ||||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 653,499 | ||||||||||||||||||||||
At December 31, 2012 | 646,260 | $ | 4.01 | 3,379,940 | |||||||||||||||||||||
Restricted shares granted | 174,000 | 5.7 | 1,242,360 | ||||||||||||||||||||||
Expired and forfeited | (23,860 | ) | 4.59 | (170,360 | ) | ||||||||||||||||||||
Restricted shares vested | (26,001 | ) | 4.75 | (185,644 | ) | ||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 1,048,712 | ||||||||||||||||||||||
At December 31, 2013 | 770,399 | $ | 4.35 | 5,315,008 | |||||||||||||||||||||
Restricted shares granted | 238,613 | 6.53 | 1,753,806 | ||||||||||||||||||||||
Expired and forfeited | (7,250 | ) | 5.67 | (53,287 | ) | ||||||||||||||||||||
Restricted shares vested | (80,667 | ) | 5.4 | (592,906 | ) | ||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 347,428 | ||||||||||||||||||||||
At December 31, 2014 | 921,095 | $ | 4.81 | 6,770,049 | |||||||||||||||||||||
There were 17,500 stock options granted during 2014. The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model. The average grant date fair value per share of options granted in 2014 and 2012 was $6.70 and $1.60, respectively. There were no stock options granted during 2013. Assumptions used for grants in 2014 and 2012 were as follows: | |||||||||||||||||||||||||
Assumptions in Estimating Option Values | |||||||||||||||||||||||||
2014 | 2012 | ||||||||||||||||||||||||
Weighted-average volatility | 38.6% - 39.0 | % | 35.58 | % | |||||||||||||||||||||
Expected dividend yield | 1 | % | 0 | % | |||||||||||||||||||||
Risk-free interest rate | 2.22 | % | 0.63 | % | |||||||||||||||||||||
Expected life (years) | 7 | 0-7 | |||||||||||||||||||||||
The fair value of options vested was $100 thousand, $1.3 million and $1.6 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||
There were 238,613, 174,000 and 78,000 shares of restricted stock granted during 2014, 2013 and 2012, respectively. The average grant date fair value of restricted shares granted in 2014, 2013 and 2012 was $6.53, $5.70 and $4.75, respectively. | |||||||||||||||||||||||||
The Company recognized compensation expense for share based compensation plans of $1.1 million, $1.8 million and $2.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. At December 31, 2014, unrecognized compensation expense related to non-vested stock options of $41 thousand was expected to be recognized over a weighted-average period of 1.07 years and unrecognized compensation expense related to restricted shares of $1.7 million was expected to be recognized over a weighted-average period of 0.87 years. At December 31, 2013, unrecognized compensation expense related to non-vested stock options of $35 thousand was expected to be recognized over a weighted-average period of 0.46 years and unrecognized compensation expense related to restricted shares of $1.2 million was expected to be recognized over a weighted average period of 0.87 years. |
Note_21_Summarized_Quarterly_I
Note 21 - Summarized Quarterly Information (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | NOTE 21 – SUMMARIZED QUARTERLY INFORMATION (UNAUDITED) | ||||||||||||||||||||||||||||||||
A summary of selected quarterly financial information for 2014 and 2013 follows: | |||||||||||||||||||||||||||||||||
2014 Quarter Ended (unaudited) | 2013 Quarter Ended (unaudited) | ||||||||||||||||||||||||||||||||
4th | 3rd | 2nd | 1st | 4th | 3rd | 2nd | 1st | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||||||||||
Total interest income | $ | 22,348 | $ | 22,586 | $ | 21,157 | $ | 19,206 | $ | 19,602 | $ | 19,736 | $ | 20,144 | $ | 19,323 | |||||||||||||||||
Total interest expense | 1,792 | 1,854 | 2,078 | 1,931 | 1,900 | 1,422 | 1,473 | 1,587 | |||||||||||||||||||||||||
Net interest income | 20,556 | 20,732 | 19,079 | 17,275 | 17,702 | 18,314 | 18,671 | 17,736 | |||||||||||||||||||||||||
Provision for loan losses | (420 | ) | (484 | ) | (365 | ) | (17 | ) | 781 | (419 | ) | 75 | 309 | ||||||||||||||||||||
Net interest income after provision | 20,976 | 21,216 | 19,444 | 17,292 | 16,921 | 18,733 | 18,596 | 17,427 | |||||||||||||||||||||||||
Noninterest income | 3,351 | 3,138 | 3,978 | 3,486 | 4,155 | 3,257 | 4,106 | 3,568 | |||||||||||||||||||||||||
Noninterest expense | 19,307 | 20,648 | 18,236 | 15,743 | 15,476 | 15,670 | 16,922 | 16,031 | |||||||||||||||||||||||||
Income before taxes | 5,020 | 3,706 | 5,186 | 5,035 | 5,600 | 6,320 | 5,780 | 4,964 | |||||||||||||||||||||||||
Income tax expense | 1,564 | 1,254 | 1,760 | 1,480 | 1,561 | 2,106 | 1,968 | 1,724 | |||||||||||||||||||||||||
Preferred dividends | - | - | - | - | - | - | 302 | 51 | |||||||||||||||||||||||||
Net income | $ | 3,456 | $ | 2,452 | $ | 3,426 | $ | 3,555 | $ | 4,039 | $ | 4,214 | $ | 3,510 | $ | 3,189 | |||||||||||||||||
Basic earnings per common share | $ | 0.08 | $ | 0.06 | $ | 0.08 | $ | 0.08 | $ | 0.09 | $ | 0.1 | $ | 0.08 | $ | 0.07 | |||||||||||||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.06 | $ | 0.08 | $ | 0.08 | $ | 0.09 | $ | 0.1 | $ | 0.08 | $ | 0.07 | |||||||||||||||||
Note_22_Park_Sterling_Corporat
Note 22 - Park Sterling Corporation (Parent Company Only) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 22 – PARK STERLING CORPORATION (PARENT COMPANY ONLY) | ||||||||||||
Condensed financial statements for Park Sterling Corporation (Parent Company Only) follow: | |||||||||||||
Condensed Balance Sheets | |||||||||||||
December 31, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
ASSETS | |||||||||||||
Cash and due from banks | $ | 3,203 | $ | 8,417 | |||||||||
Investment securities available-for-sale, at fair value | 12,851 | 16,354 | |||||||||||
Investment in banking subsidiary | 284,473 | 254,073 | |||||||||||
Nonmarketable equity securities | 1,146 | 774 | |||||||||||
Premises and equipment, net | - | 13 | |||||||||||
Other assets | 208 | 454 | |||||||||||
Total assets | $ | 301,881 | $ | 280,085 | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||
Subordinated debt | $ | 23,583 | $ | 15,157 | |||||||||
Accrued interest payable | 75 | 39 | |||||||||||
Accrued expenses and other liabilities | 3,118 | 2,769 | |||||||||||
Total liabilities | 26,776 | 17,965 | |||||||||||
Shareholders' equity: | |||||||||||||
Common Stock | 44,860 | 44,731 | |||||||||||
Additional paid-in capital | 222,819 | 222,596 | |||||||||||
Accumulated earnings (deficit) | 8,901 | (405 | ) | ||||||||||
Accumulated other comprehensive loss | (1,475 | ) | (4,802 | ) | |||||||||
Total shareholders' equity | 275,105 | 262,120 | |||||||||||
Total liabilities and shareholders' equity | $ | 301,881 | $ | 280,085 | |||||||||
Condensed Statements of Income | |||||||||||||
31-Dec-14 | 31-Dec-13 | 31-Dec-12 | |||||||||||
Income | |||||||||||||
Other interest income | $ | 688 | $ | 756 | $ | 1,432 | |||||||
Gain (loss) on sale of securities available-for-sale | 276 | (41 | ) | $ | 989 | ||||||||
Other income | 1 | - | 100 | ||||||||||
Total income | 965 | 715 | 2,521 | ||||||||||
Expense | |||||||||||||
Interest expense | 1,252 | 958 | 761 | ||||||||||
Other operating expense | 1,209 | 557 | 1,030 | ||||||||||
Total expense | 2,461 | 1,515 | 1,791 | ||||||||||
Loss before income taxes and equity in undistributed earnings of subsidiary | (1,496 | ) | (800 | ) | 730 | ||||||||
Income tax expense | (679 | ) | (528 | ) | 114 | ||||||||
Net loss before equity in undistributed earnings of subsidiary | (817 | ) | (272 | ) | 616 | ||||||||
Preferred dividends | - | 353 | 51 | ||||||||||
Equity in undistributed earnings of subsidiary | 13,706 | 15,577 | 3,727 | ||||||||||
Net income to common shareholders | $ | 12,889 | $ | 14,952 | $ | 4,292 | |||||||
Condensed Statements of Cash Flow | |||||||||||||
31-Dec-14 | 31-Dec-13 | 31-Dec-12 | |||||||||||
Cash flows from operating activities | |||||||||||||
Net income | $ | 12,889 | $ | 15,305 | $ | 4,343 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||||||||||||
Equity in undistributed earnings in banking subsidiary | (14,385 | ) | (16,105 | ) | (3,613 | ) | |||||||
Amortization (accretion) of investment securities available-for-sale | (34 | ) | 14 | 499 | |||||||||
Other depreciation and amortization, net | 614 | 482 | 444 | ||||||||||
Loss on disposal of premises and equipment | 11 | - | - | ||||||||||
Net (gains) losses on sales of investment securities available-for-sale | (276 | ) | 41 | (989 | ) | ||||||||
Change in assets and liabilities: | |||||||||||||
(Increase) decrease in other assets | 246 | (118 | ) | 669 | |||||||||
Increase in accrued interest payable | (1,324 | ) | - | (1,272 | ) | ||||||||
Increase (decrease) in other liabilities | 264 | (22 | ) | (19 | ) | ||||||||
Net cash used for operating activities | (1,995 | ) | (403 | ) | 62 | ||||||||
Cash flows from investing activities | |||||||||||||
Proceeds from maturities and call of investment securities available-for-sale | 1,625 | - | 30,607 | ||||||||||
Proceeds from sales of investment securities available-for-sale | 2,405 | 8 | 17 | ||||||||||
Acquisition of Provident Community | (6,493 | ) | - | (24,283 | ) | ||||||||
Net cash provided by (used for) investing activities | (2,463 | ) | 8 | 6,341 | |||||||||
Cash flows from financing activities | |||||||||||||
Purchase of common stock | (1,027 | ) | (366 | ) | (15 | ) | |||||||
Proceeds from exercise of stock options | 250 | 308 | - | ||||||||||
Investment in banking subsidiary | 21 | 245 | (5,000 | ) | |||||||||
Dividends on preferred stock | - | (353 | ) | (51 | ) | ||||||||
Dividends on common stock | (3,583 | ) | (1,789 | ) | - | ||||||||
Redemption of preferred stock | - | (20,500 | ) | - | |||||||||
Dividend from banking subsidiary | 3,583 | 22,289 | - | ||||||||||
Net cash used for financing activities | (756 | ) | (166 | ) | (5,066 | ) | |||||||
Net decrease in cash and cash equivalents | (5,214 | ) | (561 | ) | 1,337 | ||||||||
Cash and cash equivalents, beginning | 8,417 | 8,978 | 7,641 | ||||||||||
Cash and cash equivalents, ending | $ | 3,203 | $ | 8,417 | $ | 8,978 | |||||||
Supplemental disclosure of noncash investing and financing activities: | |||||||||||||
Change in unrealized gain (loss) on available-for-sale securities, net of tax | $ | 5,175 | $ | (8,343 | ) | $ | 318 | ||||||
Change in unrealized gain (loss) on cash flow hedge, net of tax | (1,848 | ) | 343 | - | |||||||||
Transfer from investment securities to investment in subsidiary | - | - | 6,541 | ||||||||||
Note_23_Subsequent_Event
Note 23 - Subsequent Event | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 23 – SUBSEQUENT EVENT |
On January 29, 2015, the Company announced that its board of directors has declared a regular quarterly cash dividend to its common shareholders of $0.03 per common share, payable on February 24, 2015 to all shareholders of record as of the close of business on February 10, 2015. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation - The accounting and reporting policies of the Company conform with United States generally accepted accounting principles ("GAAP") and prevailing practices within the banking industry. The consolidated financial statements include the accounts of the Bank and the Company. The Company evaluates subsequent events through the date of filing of the consolidated financial statements with the Securities and Exchange Commission (“SEC”). | ||||||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the 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 relate to the determination of the allowance for loan losses, nonaccretable discounts, purchase accounting accretion adjustments, realization of deferred tax assets and the fair value of financial instruments and other accounts. | ||||||||||||
Segment Reporting, Policy [Policy Text Block] | Segments - The Company, through the Bank, provides a broad range of financial services to individuals and companies. These services include personal, business and non-profit checking accounts, IOLTA accounts, individual retirement accounts, business and personal money market accounts, time deposits, overdraft protection, safe deposit boxes and online and mobile banking. Lending activities include a range of short-to medium-term commercial (including asset-based lending), real estate, construction, residential mortgage and home equity and consumer loans, as well as long-term residential mortgages. Wealth management activities include investment management, personal trust services, and investment brokerage services. Cash management activities include remote deposit capture, lockbox services, sweep accounts, purchasing cards, ACH and wire payments. Capital markets activities include interest rate and currency risk management products, loan syndications and debt placements. While the Company's decision makers monitor the revenue streams of the various financial products and services, operations are managed and financial performance is evaluated on an organization-wide basis. Accordingly, the Company's banking and finance operations are not considered by management to constitute more than one reportable operating segment. | ||||||||||||
Reclassification, Policy [Policy Text Block] | Reclassifications - Certain noninterest income reported in the prior year financial statements have been reclassified to conform to the 2014 presentation. Reclassifications include amortization of indemnification asset and loss share true-up liability expense previously disclosed in other noninterest income which are now reported as separate line items. The reclassification had no effect on net income, comprehensive income or shareholders’ equity as previously reported. | ||||||||||||
Business Combinations Policy [Policy Text Block] | Business Combinations, Method of Accounting for Loans Acquired, and Federal Deposit Insurance Corporation (the “FDIC”) Indemnification Asset – Generally, acquisitions are accounted for under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations. A business combination occurs when the Company acquires net assets that constitute a business, or acquires equity interests in one or more other entities that are businesses and obtains control over those entities. Business combinations are effected through the transfer of consideration consisting of cash and/or common stock and are accounted for using the acquisition method. Accordingly, the assets and liabilities of the acquired entity are recorded at their respective fair values as of the closing date of the acquisition. Determining the fair value of assets and liabilities, especially the loan portfolio, is a complicated process involving significant judgment regarding methods and assumptions used to calculate estimated fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as information relative to closing date fair values becomes available. The results of operations of an acquired entity are included in our consolidated results from the closing date of the merger, and prior periods are not restated. No allowance for loan losses related to the acquired loans is recorded on the acquisition date because the fair value of the loans acquired incorporates assumptions regarding future credit losses. Loans acquired are recorded at fair value exclusive of any loss share agreements with the FDIC. The fair value estimates associated with the acquired loans include estimates related to expected prepayments and the amount and timing of expected principal, interest and other cash flows. | ||||||||||||
In connection with an acquisition the Company may assume purchase and assumption agreements that the acquired institution entered into with the FDIC, providing for loss share agreements related to the covered assets. The Bank records an estimated receivable from the FDIC in connection with such loss share agreements. The FDIC indemnification asset is measured separately from the related covered assets as it is not contractually embedded in the assets and is not transferable with the assets, without approval of the FDIC, should the Company choose to dispose of them. Fair value is estimated at the acquisition date using projected cash flows related to the loss sharing agreements based on the expected reimbursements for losses and the applicable loss sharing percentages. These expected reimbursements do not include reimbursable amounts related to future covered expenditures. These cash flows are discounted to reflect the uncertainty of the timing and receipt of the loss sharing reimbursement from the FDIC. The Company will offset any recorded provision for loan losses related to acquired loans by recording an increase in the FDIC indemnification asset in an amount equal to the increase in expected cash flow, which is the result of a decrease in expected cash flow of acquired loans. An increase in expected cash flows on acquired loans results in a decrease in cash flows on the FDIC indemnification asset, which is recognized in the future as amortization through non-interest income over the lesser of the term of the loss share agreement or the life of the loan. | |||||||||||||
The Company incurs expenses related to the assets indemnified by the FDIC, and pursuant to the loss share agreements certain costs are reimbursable by the FDIC and are included in quarterly claims made by the Company. The estimates of reimbursements are netted against these covered expenses in the income statement. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents - For the purpose of presentation in the statement of cash flows, cash and cash equivalents include cash and due from banks, interest-earning balances at banks and Federal funds sold. Generally, Federal funds sold are repurchased the following day. | ||||||||||||
Marketable Securities, Policy [Policy Text Block] | Investment Securities - Investment securities available-for-sale are reported at fair value and consist of debt instruments that are not classified as trading securities or as held to maturity securities. Investment securities held-to-maturity are reported at amortized cost. Unrealized holding gains and losses, net of applicable taxes, on available-for-sale securities are reported as a net amount in other comprehensive income. Gains and losses on the sale of available-for-sale securities are determined using the specific-identification method and are recorded on a trade date basis. Declines in the fair value of individual available-for-sale securities below their amortized cost that are other than temporary impairments would result in write-downs of the individual securities to their fair value and would be included in earnings as realized losses. Premiums and discounts are recognized in interest income using the interest method over the period to maturity. | ||||||||||||
Investment, Policy [Policy Text Block] | Nonmarketable Equity Securities – Nonmarketable equity securities include the costs of the Company’s investments in the stock of the Federal Home Loan Bank of Atlanta (“FHLB”). As a condition of membership, the Bank is required to hold stock in the FHLB. These securities do not have a readily determinable fair value as their ownership is restricted and there is no market for these securities. The Bank carries these nonmarketable equity securities at cost and periodically evaluates them for impairment. Management considers these nonmarketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. The primary factor supporting the carrying value of these securities is the commitment of the FHLB to perform its obligations, which includes providing credit and other services to the Bank. Upon request, the stock may be sold back to the FHLB, at cost. | ||||||||||||
The Company has invested in the stock of several unaffiliated financial institutions. The Company owns less than five percent of the outstanding shares of each institution, and the stocks either have no quoted market value or are not readily marketable. Also included in nonmarketable equity securities is the investment in CSBC Statutory Trust I, Community Capital Corporation Statutory Trust I, Provident Community Bancshares Capital Trust I and Provident Community Bancshares Capital Trust II. See Note 4 – Investments and Note 11 – Borrowings. | |||||||||||||
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale – Loans intended for sale are carried at the lower of cost or estimated fair value in the aggregate. This includes, but may not be limited to, loans originated through the Company’s mortgage activities. Residential mortgage loans originated and intended for sale are comprised of accepting residential mortgage loan applications, qualifying borrowers to standards established by investors, funding residential mortgages and selling mortgages to investors under pre-existing commitments. | ||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans –Loans originated by the Company and which management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balances adjusted for any direct principal charge-offs, the allowance for loan losses and any deferred fees or costs on originated loans. Interest on originated loans is calculated by using the simple interest method on daily balances of the principal amount outstanding. Loan origination fees are capitalized and recognized as an adjustment of the yield of the related loan. See Note 5 – Loans. | ||||||||||||
Purchased Credit-Impaired (“PCI”) Loans - Purchased loans acquired in a business combination are recorded at estimated fair value on the date of acquisition without the carryover of the related allowance for loan losses. PCI loans are accounted for under the “Receivables” topic of the ASC when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the date of acquisition may include statistics such as internal risk grades and past due and nonaccrual status. Purchased impaired loans generally meet the Company’s definition for nonaccrual status. Any excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference, and is available to absorb credit losses on those loans. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows result in a reversal of the provision for loan losses to the extent of prior charges, or a reclassification of the nonaccretable difference with a positive impact on future interest income. For acquired loans subject to a loss sharing agreement with the FDIC, the FDIC indemnification asset will be adjusted prospectively in a similar, consistent manner with increases and decreases in expected cash flows limited to the term of the loss share agreements. | |||||||||||||
Purchased Performing Loans – The Company accounts for performing loans acquired in business combinations using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Purchased performing loans are recorded at fair value, including a credit discount. The fair value discount is accreted as an adjustment to yield over the estimated lives of the loans. There is no allowance for loan losses established at the acquisition date for purchased performing loans. A provision for loan losses is recorded for any further deterioration in these loans subsequent to the acquisition. | |||||||||||||
Nonperforming Loans – For all classes of loans, except PCI loans, loans are placed on non-accrual status upon becoming contractually past due 90 days or more as to principal or interest (unless they are adequately secured by collateral, are in the process of collection and are reasonably expected to result in repayment), when terms are renegotiated below market levels in response to a financially distressed borrower or guarantor, or where substantial doubt about full repayment of principal or interest is evident. | |||||||||||||
When a loan is placed on non-accrual status, the accrued and unpaid interest receivable is reversed and the loan is accounted for on the cash or cost recovery method until qualifying for return to accrual status. All payments received on non-accrual loans are applied against the principal balance of the loan. A loan may be returned to accrual status when all delinquent interest and principal become current in accordance with the terms of the loan agreement and when doubt about repayment is resolved. Generally, for all classes of loans, a charge-off is recorded when it is probable that a loss has been incurred and when it is possible to determine a reasonable estimate of the loss. | |||||||||||||
Impaired Loans – For all classes of loans, except PCI loans, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. Impaired loans may include all classes of nonaccrual loans and loans modified in a troubled debt restructuring ("TDR"). If a loan is impaired, a specific valuation allowance is allocated, if necessary, so that the loan is reported net, at the present value of estimated future cash flows using the interest rate implicit in the original agreement or at the fair value of collateral if repayment is expected solely from the collateral. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is probable, in which case interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. | |||||||||||||
Loans Modified in a TDR - Loans are considered to be a TDR if, for economic or legal reasons related to the borrower's financial condition, the Company makes certain concessions to the original contract terms related to amount, interest rate, amortization or maturity that it would not otherwise consider. Generally, a nonaccrual loan that has been modified in a TDR remains on nonaccrual status for a period of at least six months to demonstrate that the borrower is able to meet the terms of the modified loan. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. If the borrower's ability to meet the revised payment schedule is uncertain, the loan remains on nonaccrual status. | |||||||||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses – The allowance for loan losses is based upon management's ongoing evaluation of the loan portfolio and reflects an amount considered by management to be its best estimate of known and inherent losses in the portfolio as of the balance sheet date. The determination of the allowance for loan losses involves a high degree of judgment and complexity. In making the evaluation of the adequacy of the allowance for loan losses, management considers current economic and market conditions, independent loan reviews performed periodically by third parties, portfolio trends and concentrations, delinquency information, management's internal review of the loan portfolio, internal historical loss rates and other relevant factors. While management uses the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, regulatory examiners may require the Company to recognize changes to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Although provisions have been established by loan segments based upon management's assessment of their differing inherent loss characteristics, the entire allowance for losses on loans, other than the portions related to PCI loans and specific reserves on impaired loans, is available to absorb further loan losses in any segment. Further information regarding the Company’s policies and methodology used to estimate the allowance for loan losses is presented in Note 5 – Loans. | ||||||||||||
Real Estate, Policy [Policy Text Block] | Other Real Estate Owned (“OREO”) - Real estate acquired through, or in lieu of, loan foreclosure is held for sale and is recorded at fair value less estimated selling costs when acquired, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and further write-downs are made based on these valuations. Revenue and expenses from operations are included in other expense. | ||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment - Company premises and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets, which are generally 39.5 years for buildings and 3 to 7 years for furniture and equipment. Leasehold improvements are depreciated over the lesser of the term of the respective lease or the estimated useful lives of the improvements. Repairs and maintenance costs are charged to operations as incurred and additions and improvements to premises and equipment are capitalized. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gains or losses are reflected in current operations. | ||||||||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill andIntangible Assets - Intangible assets consist primarily of goodwill and core deposit intangibles that result from the acquisition of other banks. Core deposit intangibles represent the value of long-term deposit relationships acquired in these transactions. Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. | ||||||||||||
The goodwill impairment analysis is a two-step test. The first step, used to identify potential impairment, involves comparing the reporting unit’s estimated fair value to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, there is an indication of potential impairment and the second step is performed to measure the amount of impairment of goodwill assigned to that reporting unit. | |||||||||||||
If required, the second step involves calculating an implied fair value of goodwill for each reporting unit for which the first step indicated impairment. The implied fair value of goodwill is determined in a manner similar to the amount of goodwill calculated in a business combination, by measuring the excess of the estimated fair value of the reporting unit, as determined in the first step, over the aggregate estimated fair values of the individual assets, liabilities and identifiable intangibles as if the reporting unit was being acquired in a business combination. If the implied fair value of goodwill exceeds the carrying value of the goodwill assigned to the reporting unit, there is no impairment. If the carrying value of goodwill assigned to a reporting unit exceeds the implied fair value of the goodwill, an impairment charge is recorded for the excess. An impairment loss cannot exceed the carrying value of goodwill assigned to a reporting unit, and the loss establishes a new basis of goodwill. | |||||||||||||
In September 2011, the FASB issued ASU 2011-08, which gives entities the option of first performing a qualitative assessment to test goodwill for impairment on a reporting-unit-by-reporting-unit basis. If, after performing the qualitative assessment, an entity concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the entity would perform the two-step goodwill impairment test described in ASC 350. However, if, after applying the qualitative assessment, the entity concludes that it is not more likely than not that the fair value is less than the carrying amount, the two-step goodwill impairment test is not required. | |||||||||||||
The Company performed the qualitative assessment as outlined in ASU 2011-08 in assessing the carrying value of goodwill related to its acquisitions as of October 1, 2014, its annual test date, and determined that it was unlikely that the fair value was less than the carrying amount and that no further testing or impairment charge was necessary. Should the Company’s future earnings and cash flows decline and/or discount rates increase, an impairment charge to goodwill and other intangible assets may be required. There have been no events subsequent to the October 1, 2014 evaluation that caused the Company to perform an interim review of the carrying value of goodwill related to any of its acquisitions. | |||||||||||||
Core deposit intangibles are amortized over the estimated useful lives of the deposit accounts acquired (generally ten years on a straight line basis). | |||||||||||||
Qualified Affordable Housing Project Investments [Policy Text Block] | Investment in a Qualified Affordable Housing Project - The Company currently invests in the Community Affordable Housing Equity Corporation (“CAHEC”), a qualified affordable housing project. CAHEC assists in providing low-income housing and historic preservation in the United States. The Company assumed this investment in connection with the acquisition of Provident Community. As of December 31, 2014, the Company holds an investment of $508 thousand which is recorded in other assets on the balance sheet. There are no commitments or contingent commitments to provide additional capital. In connection with the investment in CAHEC, the Company recognized a net income tax benefit of approximately $10 thousand in income tax expense in the Consolidated Statement of Income for the year ended December 31, 2014. No impairment was recognized or identified for this investment at December 31, 2014. | ||||||||||||
Repurchase Agreements, Valuation, Policy [Policy Text Block] | Securities Sold Under Agreements to Repurchase – The Company sells certain securities under agreements to repurchase. The agreements are treated as collateralized financing transactions and the obligations to repurchase securities sold are reflected as a liability in the accompanying consolidated balance sheets. The dollar amount of the securities underlying the agreements remains in the asset accounts. | ||||||||||||
Advertising Costs, Policy [Policy Text Block] | Advertising Costs - Advertising costs are expensed as incurred and advertising communication costs the first time the advertising takes place. The Company may establish accruals for anticipated advertising expenses within the course of a fiscal year. | ||||||||||||
Income Tax, Policy [Policy Text Block] | Income Taxes - Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (excluding deferred tax assets and liabilities related to components of other comprehensive income). Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets generally is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. The Company is subject to U.S. Federal income tax as well as state and local income tax in several jurisdictions. Tax years 2011 through 2014 remain open to examination by the Federal taxing authority. Interest and penalties on income tax assessments or income tax refunds are recognized in the Consolidated Statements of Income as a component of noninterest expense. | ||||||||||||
Earnings Per Share, Policy [Policy Text Block] | Per Share Results - Basic and diluted earnings per common share are computed based on the weighted-average number of shares outstanding during each period. Diluted earnings per common share reflects the potential dilution that could occur if all dilutive stock options were exercised. | ||||||||||||
In 2012, the Company issued 78,000 restricted stock awards, and repurchased 3,000 shares of common stock in open market transactions pursuant to the stock repurchase program approved by the board of directors in November 2012. Also in 2012, the Company issued 11,857,226 shares of Common Stock in connection with the merger with Citizens South. In 2013, the Company issued 174,000 restricted stock awards, issued 60,943 shares pursuant to the exercise of stock options and repurchased 56,267 shares in open market transactions. In 2014, the Company issued 238,613 restricted stock awards, issued 54,199 shares pursuant to the exercise of stock options, repurchased 136,743 shares of Common Stock in open market transactions and acquired 19,942 shares in connection with satisfaction of tax withholding obligations on vested restricted stock. | |||||||||||||
Basic and diluted earnings per common share have been computed based upon net income as presented in the accompanying consolidated statements of income divided by the weighted-average number of common shares outstanding or assumed to be outstanding as summarized below in each case as of December 31,: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Weighted-average number of common shares outstanding excluding unvested restricted shares | 43,924,457 | 43,965,408 | 35,101,407 | ||||||||||
Effect of dilutive stock options and unvested shares | 322,543 | 87,845 | 6,822 | ||||||||||
Weighted-average number of common shares and dilutive potential common shares outstanding | 44,247,000 | 44,053,253 | 35,108,229 | ||||||||||
There were 1,927,740 outstanding stock options and 842,170 outstanding restricted shares that were anti-dilutive for the year ended December 31, 2014. There were 243,617 dilutive stock options and 78,925 dilutive restricted shares outstanding for the year ended December 31, 2014. There were 2,177,592 outstanding stock options and 730,514 outstanding restricted shares outstanding that were anti-dilutive for the year ended December 31, 2013. There were 47,959 dilutive stock options and 39,885 dilutive restricted shares outstanding for the year ended December 31, 2013. There were 3,118,891 outstanding stock options and 640,239 outstanding restricted shares outstanding that were anti-dilutive for the year ended December 31, 2012. There were 801 dilutive stock options and 6,021 dilutive restricted shares outstanding for the year ended December 31, 2012. See Note 20 – Employee and Director Benefit Plans for more information. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation - The Company may grant share-based compensation to employees, non-employee directors and other eligible parties in the form of stock options, restricted stock or other instruments. Share-based compensation expense is measured based on the fair value of the award at the date of grant and is charged to earnings on a straight-line basis over the requisite service period, which is currently up to seven years. The fair value of stock options is estimated at the date of grant using a Black-Scholes option pricing model and related assumptions. The amortization of share-based compensation is adjusted for actual forfeiture experience. The fair value of restricted stock awards, subject to share price performance vesting requirements, is estimated using a Monte Carlo simulation and related estimated assumptions for volatility and a risk free interest rate. | ||||||||||||
The compensation expense for share-based compensation plans was $1.1 million, $1.8 million and $2.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments and Hedging Activities - The Company utilizes interest rate swap agreements, considered to be cash flow hedges, as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of interest-bearing liabilities. Under the guidelines of ASC 815-10, “Derivatives and Hedging,” all derivative instruments are required to be carried at fair value on the balance sheet. | ||||||||||||
Cash flow hedges are accounted for by recording the fair value of the derivative instrument on the balance sheet as either a freestanding asset or liability, with a corresponding offset recorded in other comprehensive income within shareholders’ equity, net of tax. Amounts are reclassified from other comprehensive income to the income statement in the period or periods the hedged forecasted transaction affects earnings. Cash flows from cash flow hedges are classified in the same category as the cash flows from the items being hedged. Derivative gains and losses not effective in hedging the expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine the effectiveness of the cash flow hedge. If it is determined that a derivative instrument has not been or will not continue to be highly effective as a hedge, hedge accounting is discontinued. See Note 17 – Derivative Financial Instruments and Hedging Activities. | |||||||||||||
Fair value hedges are accounted for under ASC Topic 815 which requires that the method selected for assessing hedge effectiveness must be reasonable, be defined at the inception of the hedging relationship and be applied consistently throughout the hedging relationship. The Company uses the dollar-offset method for assessing effectiveness using the cumulative approach. The dollar-offset method compares the fair value of the hedging derivative with the fair value of the hedged exposure. The cumulative approach involves comparing the cumulative changes in the hedging derivative’s fair value to the cumulative changes in the hedged exposure’s fair value. The calculation of dollar offset is the change in clean fair value of the hedging derivative, divided by the change in fair value of the hedged exposure attributable to changes in the London InterBank Offered Rate (“LIBOR”) curve. To the extent that the cumulative change in fair value of the hedging derivative offsets from 80% to 125% of the cumulative change in fair value of the hedged exposure, the hedge will be deemed effective. The change in fair value of the hedging derivative and the change in fair value of the hedged exposure are recorded in earnings. Any hedge ineffectiveness is also reflected in current earnings. Cash flows from fair value hedges are classified in the same category as the cash flows from the items being hedged. | |||||||||||||
If a derivative instrument designated as a fair value hedge is terminated or the hedge designation removed, the difference between a hedged item’s then carrying amount and its face amount is recognized into income over the original hedge period. Likewise, if a derivative instrument designated as a cash flow hedge is terminated or the hedge designation removed, related amounts accumulated in other accumulated comprehensive income are reclassified into earnings over the original hedge period during which the hedged item affects income. | |||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements – The following is a summary of recent authoritative pronouncements: | ||||||||||||
In January 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-01, "Investments --Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects". This update revises the criteria required to elect the measurement and presentation alternative under ASC 323-740 and simplifies the method of amortization of the investment for entities investing in flow-through limited liability entities that manage or invest in affordable housing projects qualifying for the low-income housing tax credit. The update allows entities that meet the required criteria to qualify to present the investment performance net of income tax expense to better represent the economics of the investment (rather than traditional investment accounting under the equity or cost method). If the entity qualifies for the measurement and presentation alternative, it may amortize the initial cost of the investment in proportion to the related tax credits received (the proportional allocation method). The amendments must be retrospectively applied for all periods presented. For public business entities this update is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The Company adopted this guidance as of December 31, 2014. The related disclosures can be found in Note 2- Summary of Significant Accounting Policies of these financial statements. | |||||||||||||
In January 2014, the FASB issued ASU 2014-04, “Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force)” (“ASU 2014-04”). ASU 2014-04 amended the Receivables—Troubled Debt Restructurings by Creditors subtopic of the ASC to address the reclassification of consumer mortgage loans collateralized by residential real estate upon foreclosure. The amendments clarify the criteria for concluding that an in-substance repossession or foreclosure has occurred, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. The amendments also outline interim and annual disclosure requirements. The amendments will be effective for the Company for interim and annual reporting periods beginning after December 15, 2014. Companies are allowed to use either a modified retrospective transition method or a prospective transition method when adopting this update. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”). ASU 2014-09 changes the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact of this guidance but does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures” (“ASU 2014-11”). ASU 2014-11 makes limited amendments to the guidance on accounting for certain repurchase agreements. The new guidance (1) requires entities to account for repurchase-to-maturity transactions as secured borrowings (rather than as sales with forward repurchase agreements), (2) eliminates accounting guidance on linked repurchase financing transactions, and (3) expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers (specifically, repos, securities lending transactions, and repurchase-to-maturity transactions) accounted for as secured borrowings. The amendments will be effective for the Company for the first interim or annual period beginning after December 15, 2014. The Company is currently evaluating the impact of this guidance but does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period—a consensus of the FASB Emerging Issues Task Force” (“ASU 2014-12”). ASU 2014-12 clarifies that performance targets associated with stock compensation should be treated as a performance condition and should not be reflected in the grant date fair value of the stock award. The amendments will be effective for the Company for fiscal years that begin after December 15, 2015. The Company will apply the guidance to all stock awards granted or modified after the amendments are effective. The Company does not expect these amendments to have a material effect on its financial statements. | |||||||||||||
In August 2014, the FASB issued ASU 2014-14, "Receivables - Troubled Debt Restructurings by Creditors: Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure" (“ASU 2014-19”). This update addresses the diversity in practice regarding the classification and measurement of foreclosed loans which were part of a government-sponsored loan guarantee program. If certain criteria are met, the loan should be derecognized and a separate other receivable should be recorded upon foreclosure at the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. This update is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The update may be adopted either prospectively or on a modified retrospective basis. Early adoption is permitted, provided the entity has adopted ASU 2014-04. The Company is currently evaluating the impact of this guidance but does not expect these updates to have a material effect on its financial statements. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Weighted-average number of common shares outstanding excluding unvested restricted shares | 43,924,457 | 43,965,408 | 35,101,407 | ||||||||||
Effect of dilutive stock options and unvested shares | 322,543 | 87,845 | 6,822 | ||||||||||
Weighted-average number of common shares and dilutive potential common shares outstanding | 44,247,000 | 44,053,253 | 35,108,229 |
Note_3_Business_Combinations_T
Note 3 - Business Combinations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | As Recorded by | Fair Value and Other | |||||||||||
Provident | Merger Related | As Recorded | |||||||||||
Community | Adjustments | by the Company | |||||||||||
Consideration Paid | |||||||||||||
Cash | $ | 1,397 | |||||||||||
Fair value of non-controlling interest | 5,096 | ||||||||||||
Fair Value of Total Consideration Transferred | $ | 6,493 | |||||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | |||||||||||||
Cash and cash equivalents | $ | 65,538 | $ | - | $ | 65,538 | |||||||
Securities | 124,035 | - | 124,035 | ||||||||||
Nonmarketable equity securities | 2,948 | - | 2,948 | ||||||||||
Loans held for sale | 390 | - | 390 | ||||||||||
Loans, net of allowance | 112,412 | (6,797 | ) | 105,615 | |||||||||
Premises and equipment | 3,150 | 32 | 3,182 | ||||||||||
Core deposit intangibles | - | 3,600 | 3,600 | ||||||||||
Interest receivable | 748 | (3 | ) | 745 | |||||||||
Other real estate owned | 3,666 | (702 | ) | 2,964 | |||||||||
Bank owned life insurance | 8,536 | - | 8,536 | ||||||||||
Deferred tax asset | 1,628 | 4,828 | 6,456 | ||||||||||
Other assets | 1,438 | (218 | ) | 1,220 | |||||||||
Total assets acquired | $ | 324,489 | $ | 740 | $ | 325,229 | |||||||
Deposits | $ | 264,281 | $ | 177 | $ | 264,458 | |||||||
Federal Home Loan Bank advances | 37,500 | 3,915 | 41,415 | ||||||||||
Junior Subordinated Debt | 12,372 | (4,558 | ) | 7,814 | |||||||||
Short term borrowings | 4,760 | - | 4,760 | ||||||||||
Other liabilities | 2,087 | 985 | 3,072 | ||||||||||
Total liabilities assumed | $ | 321,000 | $ | 519 | $ | 321,519 | |||||||
Total identifiable assets | $ | 3,489 | $ | 221 | $ | 3,710 | |||||||
Goodwill resulting from acquisition | $ | 2,783 | |||||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | Pro Forma | ||||||||||||
Years Ended | |||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||
Total revenues (net interest income plus other income) | $ | 93,139 | $ | 97,709 | |||||||||
Net income | $ | 9,549 | $ | 12,434 |
Note_4_Investments_Tables
Note 4 - Investments (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investment [Table Text Block] | Gross | Gross | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 508 | $ | 29 | $ | - | $ | 537 | |||||||||||||||||
Municipal securities | 11,955 | 896 | - | 12,851 | |||||||||||||||||||||
Residential agency pass-through securities | 144,955 | 2,156 | (96 | ) | 147,015 | ||||||||||||||||||||
Residential collateralized mortgage obligations | 144,773 | 625 | (1,318 | ) | 144,080 | ||||||||||||||||||||
Commercial mortgage-backed obligations | 4,974 | - | (106 | ) | 4,868 | ||||||||||||||||||||
Asset-backed securities | 61,833 | - | (783 | ) | 61,050 | ||||||||||||||||||||
Corporate and other securities | 3,328 | 242 | - | 3,570 | |||||||||||||||||||||
Equity securities | 1,250 | 462 | - | 1,712 | |||||||||||||||||||||
Total securities available-for-sale | $ | 373,576 | $ | 4,410 | $ | (2,303 | ) | $ | 375,683 | ||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | $ | 43,331 | $ | 1,123 | $ | - | $ | 44,454 | |||||||||||||||||
Residential collateralized mortgage obligations | 8,440 | 124 | - | 8,564 | |||||||||||||||||||||
Commercial mortgage-backed obligations | 60,783 | - | (2,041 | ) | 58,742 | ||||||||||||||||||||
Asset-backed securities | 5,978 | - | (111 | ) | 5,867 | ||||||||||||||||||||
Total securities held-to-maturity | $ | 118,532 | $ | 1,247 | $ | (2,152 | ) | $ | 117,627 | ||||||||||||||||
2013 | 1,202 | ||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | $ | 513 | $ | 45 | $ | - | $ | 558 | |||||||||||||||||
Municipal securities | 15,826 | 680 | - | 16,506 | |||||||||||||||||||||
Residential agency pass-through securities | 90,043 | 741 | (536 | ) | 90,248 | ||||||||||||||||||||
Residential collateralized mortgage obligations | 105,667 | 51 | (2,369 | ) | 103,349 | ||||||||||||||||||||
Commercial mortgage-backed obligations | 66,396 | - | (4,994 | ) | 61,402 | ||||||||||||||||||||
Asset-backed securities | 73,369 | 1 | (2,293 | ) | 71,077 | ||||||||||||||||||||
Corporate and other securities | 4,461 | - | (16 | ) | 4,445 | ||||||||||||||||||||
Equity securities | 1,393 | 513 | - | 1,906 | |||||||||||||||||||||
Total securities available-for-sale | $ | 357,668 | $ | 2,031 | $ | (10,208 | ) | $ | 349,491 | ||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | $ | 41,125 | $ | - | $ | (392 | ) | $ | 40,733 | ||||||||||||||||
Residential collateralized mortgage obligations | 4,982 | - | (74 | ) | 4,908 | ||||||||||||||||||||
Asset-backed securities | 5,865 | - | (172 | ) | 5,693 | ||||||||||||||||||||
Total securities held-to-maturity | $ | 51,972 | $ | - | $ | (638 | ) | $ | 51,334 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | Maturities of Investment Portfolio | ||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
U.S. Government agencies | |||||||||||||||||||||||||
Due after one year through five years | $ | 508 | $ | 537 | |||||||||||||||||||||
Municipal securities | |||||||||||||||||||||||||
Due after ten years | 11,955 | 12,851 | |||||||||||||||||||||||
Residential agency pass-through securities | |||||||||||||||||||||||||
Due after five years through ten years | 11,354 | 11,532 | |||||||||||||||||||||||
Due after ten years | 133,601 | 135,483 | |||||||||||||||||||||||
Residential collateralized mortgage obligations | |||||||||||||||||||||||||
Due after five years through ten years | 8,194 | 8,087 | |||||||||||||||||||||||
Due after ten years | 136,579 | 135,993 | |||||||||||||||||||||||
Commercial mortgage-backed obligations | |||||||||||||||||||||||||
Due after five years through ten years | 4,974 | 4,868 | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||
Due after ten years | 61,833 | 61,050 | |||||||||||||||||||||||
Corporate and other securities | |||||||||||||||||||||||||
Due after ten years | 3,328 | 3,570 | |||||||||||||||||||||||
Equity securities | |||||||||||||||||||||||||
Due after ten years | 1,250 | 1,712 | |||||||||||||||||||||||
Total securities available-for-sale | $ | 373,576 | $ | 375,683 | |||||||||||||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency pass-through securities | |||||||||||||||||||||||||
Due after ten years | $ | 43,331 | $ | 44,454 | |||||||||||||||||||||
Residential collateralized mortgage obligations | |||||||||||||||||||||||||
Due after ten years | 8,440 | 8,564 | |||||||||||||||||||||||
Commercial mortgage-backed obligations | |||||||||||||||||||||||||
Due after five years through ten years | 60,783 | 58,742 | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||
Due after ten years | 5,978 | 5,867 | |||||||||||||||||||||||
Total securities held-to-maturity | $ | 118,532 | $ | 117,627 | |||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Proceeds from sales | $ | 161,434 | $ | 28,128 | $ | 46,367 | |||||||||||||||||||
Gross realized gains | 427 | 343 | 1,478 | ||||||||||||||||||||||
Gross realized losses | (247 | ) | (245 | ) | - | ||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | Investment Portfolio Gross Unrealized Losses and Fair Value | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | - | $ | - | $ | 3,857 | $ | (96 | ) | $ | 3,857 | $ | (96 | ) | |||||||||||
Residential collateralized mortgage obligations | 29,122 | (142 | ) | 48,824 | (1,176 | ) | 77,946 | (1,318 | ) | ||||||||||||||||
Commercial mortgage-backed obligations | - | - | 4,868 | (106 | ) | 4,868 | (106 | ) | |||||||||||||||||
Asset-backed securities | 38,528 | (296 | ) | 22,522 | (487 | ) | 61,050 | (783 | ) | ||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 67,650 | $ | (438 | ) | $ | 80,071 | $ | (1,865 | ) | $ | 147,721 | $ | (2,303 | ) | ||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential collateralized mortgage obligations | $ | - | $ | - | $ | 58,743 | $ | (2,041 | ) | $ | 58,743 | $ | (2,041 | ) | |||||||||||
Asset-backed securities | - | - | 5,867 | (111 | ) | 5,867 | (111 | ) | |||||||||||||||||
Total temporarily impaired held-to-maturity securities | $ | - | $ | - | $ | 64,610 | $ | (2,152 | ) | $ | 64,610 | $ | (2,152 | ) | |||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | 32,674 | $ | (536 | ) | $ | - | $ | - | $ | 32,674 | $ | (536 | ) | |||||||||||
Residential collateralized mortgage obligations | 55,856 | (1,687 | ) | 18,167 | (682 | ) | 74,023 | (2,369 | ) | ||||||||||||||||
Commercial mortgage-backed obligations | 42,391 | (3,247 | ) | 19,011 | (1,747 | ) | 61,402 | (4,994 | ) | ||||||||||||||||
Asset-backed securities | 56,106 | (2,236 | ) | 4,986 | (57 | ) | 61,092 | (2,293 | ) | ||||||||||||||||
Corporate and other securities | 3,945 | (16 | ) | - | - | 3,945 | (16 | ) | |||||||||||||||||
Total temporarily impaired available-for-sale securities | $ | 190,972 | $ | (7,722 | ) | $ | 42,164 | $ | (2,486 | ) | $ | 233,136 | $ | (10,208 | ) | ||||||||||
Securities held-to-maturity: | |||||||||||||||||||||||||
Residential agency mortgage-backed securities | $ | 40,733 | $ | (392 | ) | $ | - | $ | - | $ | 40,733 | $ | (392 | ) | |||||||||||
Residential collateralized mortgage obligations | 4,908 | (74 | ) | - | - | 4,908 | (74 | ) | |||||||||||||||||
Asset-backed securities | 5,693 | (172 | ) | - | - | 5,693 | (172 | ) | |||||||||||||||||
Total temporarily impaired held-to-maturity securities | $ | 51,334 | $ | (638 | ) | $ | - | $ | - | $ | 51,334 | $ | (638 | ) |
Note_5_Loans_and_Allowance_for1
Note 5 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans | All other loans | Total | PCI loans | All other loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 5,552 | $ | 168,234 | $ | 173,786 | $ | 5,737 | $ | 116,663 | $ | 122,400 | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate (CRE) - owner-occupied | 30,554 | 303,228 | 333,782 | 35,760 | 231,821 | 267,581 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 43,866 | 426,781 | 470,647 | 56,996 | 325,191 | 382,187 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 514 | 28,887 | 29,401 | - | 19,959 | 19,959 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 13,660 | 41,783 | 55,443 | 22,699 | 42,890 | 65,589 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 112 | 71,478 | 71,590 | 121 | 56,638 | 56,759 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1,187 | 3,858 | 5,045 | 137 | 3,712 | 3,849 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 95,445 | 1,044,249 | 1,139,694 | 121,450 | 796,874 | 918,324 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 28,730 | 176,420 | 205,150 | 32,826 | 140,550 | 173,376 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit (HELOC) | 1,734 | 153,563 | 155,297 | 1,402 | 142,352 | 143,754 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 6,574 | 49,308 | 55,882 | 6,920 | 33,901 | 40,821 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 758 | 21,828 | 22,586 | 1,189 | 17,606 | 18,795 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 37,796 | 401,119 | 438,915 | 42,337 | 334,409 | 376,746 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | 133,241 | 1,445,368 | 1,578,609 | 163,787 | 1,131,283 | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||||||||
Deferred fees | - | 2,084 | 2,084 | - | 738 | 738 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans, net of deferred fees | $ | 133,241 | $ | 1,447,452 | $ | 1,580,693 | $ | 163,787 | $ | 1,132,021 | $ | 1,295,808 | |||||||||||||||||||||||||||||||||||||||||
Schedule of Acquired Loans [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
PCI loans | Purchased Performing loans | Total | PCI loans | Purchased Performing loans | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ | 165,686 | $ | 367,768 | $ | 533,454 | $ | 197,040 | $ | 408,970 | $ | 606,010 | |||||||||||||||||||||||||||||||||||||||||
Carrying amount: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 5,552 | 11,032 | 16,584 | 5,737 | 18,377 | 24,114 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 30,554 | 101,071 | 131,625 | 35,760 | 103,834 | 139,594 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 43,866 | 62,493 | 106,359 | 56,996 | 69,368 | 126,364 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 514 | - | 514 | - | 97 | 97 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 13,660 | 8,052 | 21,712 | 22,699 | 13,509 | 36,208 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 112 | - | 112 | 121 | 3,218 | 3,339 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1,187 | 734 | 1,921 | 137 | 1,889 | 2,026 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 28,730 | 91,291 | 120,021 | 32,826 | 98,104 | 130,930 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,734 | 83,573 | 85,307 | 1,402 | 86,512 | 87,914 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 6,574 | 3,928 | 10,502 | 6,920 | 7,155 | 14,075 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 758 | 2,615 | 3,373 | 1,189 | 2,377 | 3,566 | |||||||||||||||||||||||||||||||||||||||||||||||
$ | 133,241 | $ | 364,789 | $ | 498,030 | $ | 163,787 | $ | 404,440 | $ | 568,227 | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | ||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, excluding PCI: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 1,491 | $ | 399 | $ | 1,797 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,471 | |||||||||||||||||||||||||||
Provision for loan losses | (254 | ) | 252 | 123 | (464 | ) | (2,871 | ) | 96 | 6 | 48 | 1,384 | 296 | 29 | (1,355 | ) | |||||||||||||||||||||||||||||||||||||
Charge-offs | (161 | ) | (193 | ) | (292 | ) | - | (15 | ) | (16 | ) | - | - | (161 | ) | (852 | ) | (201 | ) | (50 | ) | (1,941 | ) | ||||||||||||||||||||||||||||||
Recoveries | 487 | 263 | 123 | - | 98 | 1,727 | - | 1 | 198 | 69 | 57 | 64 | 3,087 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | 326 | 70 | (169 | ) | - | 83 | 1,711 | - | 1 | 37 | (783 | ) | (144 | ) | 14 | 1,146 | |||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
PCI Impairment Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | - | $ | - | $ | 360 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 360 | |||||||||||||||||||||||||||
PCI impairment charge-offs | - | - | (6 | ) | - | - | - | - | - | (1 | ) | (144 | ) | - | - | (151 | ) | ||||||||||||||||||||||||||||||||||||
PCI impairment recoveries | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Net PCI impairment charge-offs | - | - | (6 | ) | - | - | - | - | - | (1 | ) | (144 | ) | - | - | (151 | ) | ||||||||||||||||||||||||||||||||||||
Reversal of PCI impairment | - | - | (354 | ) | - | - | - | - | - | 1 | 144 | - | - | (209 | ) | ||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | - | - | 278 | - | - | - | - | - | - | - | - | - | 278 | ||||||||||||||||||||||||||||||||||||||||
Total provision for loan losses charged to operations | - | - | (76 | ) | - | - | - | - | - | 1 | 144 | - | - | 69 | |||||||||||||||||||||||||||||||||||||||
Provision for loan losses recorded through FDIC loss share receivable | - | - | (278 | ) | - | - | - | - | - | - | - | - | - | (278 | ) | ||||||||||||||||||||||||||||||||||||||
Ending balance | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses, excluding PCI: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 849 | $ | 496 | $ | 1,102 | $ | 4,157 | $ | - | $ | - | $ | - | $ | 8 | $ | 454 | $ | 1,463 | $ | 1,046 | $ | 49 | $ | 9,624 | |||||||||||||||||||||||||||
Provision for loan losses | 1,693 | (52 | ) | 933 | (4,157 | ) | 705 | 1,031 | 299 | 16 | 319 | 359 | (673 | ) | 31 | 504 | |||||||||||||||||||||||||||||||||||||
Charge-offs | (1,238 | ) | (52 | ) | (718 | ) | - | (87 | ) | (6 | ) | - | - | (831 | ) | (838 | ) | (44 | ) | (64 | ) | (3,878 | ) | ||||||||||||||||||||||||||||||
Recoveries | 187 | 7 | 480 | - | 221 | 726 | - | 1 | 416 | 66 | 61 | 56 | 2,221 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | (1,051 | ) | (45 | ) | (238 | ) | - | 134 | 720 | - | 1 | (415 | ) | (772 | ) | 17 | (8 | ) | (1,657 | ) | |||||||||||||||||||||||||||||||||
Ending balance | $ | 1,491 | $ | 399 | $ | 1,797 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,471 | |||||||||||||||||||||||||||
PCI Impairment Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 225 | $ | - | $ | - | $ | 542 | $ | - | $ | - | $ | - | $ | - | $ | 200 | $ | - | $ | - | $ | - | $ | 967 | |||||||||||||||||||||||||||
PCI impairment charge-offs | (216 | ) | - | (16 | ) | (177 | ) | - | - | - | (386 | ) | (311 | ) | - | (233 | ) | (36 | ) | (1,375 | ) | ||||||||||||||||||||||||||||||||
PCI impairment recoveries | - | - | - | 25 | - | - | - | - | - | - | - | - | 25 | ||||||||||||||||||||||||||||||||||||||||
Net PCI impairment charge-offs | (216 | ) | - | (16 | ) | (152 | ) | - | - | - | (386 | ) | (311 | ) | - | (233 | ) | (36 | ) | (1,350 | ) | ||||||||||||||||||||||||||||||||
PCI provision for loan losses | (9 | ) | - | 376 | (390 | ) | - | - | - | 386 | 111 | - | 233 | 36 | 743 | ||||||||||||||||||||||||||||||||||||||
Benefit attributable to FDIC loss share agreements | (104 | ) | - | (205 | ) | (192 | ) | - | - | - | - | - | - | - | - | (501 | ) | ||||||||||||||||||||||||||||||||||||
Total provision for loan losses charged to operations | (113 | ) | - | 171 | (582 | ) | - | - | - | 386 | 111 | - | 233 | 36 | 242 | ||||||||||||||||||||||||||||||||||||||
Provision for loan losses recorded through FDIC loss share receivable | 104 | - | 205 | 192 | - | - | - | - | - | - | - | - | 501 | ||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | - | $ | - | $ | 360 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 360 | |||||||||||||||||||||||||||
Total Allowance for Loan Losses | $ | 1,491 | $ | 399 | $ | 2,157 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,831 | |||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 703 | $ | 740 | $ | 2,106 | $ | 3,883 | $ | - | $ | - | $ | - | $ | 17 | $ | 309 | $ | 1,898 | $ | 455 | $ | 43 | $ | 10,154 | |||||||||||||||||||||||||||
Provision for loan losses | 632 | (40 | ) | 71 | (676 | ) | - | - | - | 85 | 262 | (62 | ) | 795 | (11 | ) | 1,056 | ||||||||||||||||||||||||||||||||||||
PCI provision for loan losses | 225 | - | - | 542 | - | - | - | - | 200 | - | - | - | 967 | ||||||||||||||||||||||||||||||||||||||||
Charge-offs | (565 | ) | (204 | ) | (1,132 | ) | (652 | ) | - | - | - | (94 | ) | (129 | ) | (406 | ) | (328 | ) | (12 | ) | (3,522 | ) | ||||||||||||||||||||||||||||||
Recoveries | 79 | - | 57 | 1,602 | - | - | - | - | 12 | 33 | 124 | 29 | 1,936 | ||||||||||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | (486 | ) | (204 | ) | (1,075 | ) | 950 | - | - | - | (94 | ) | (117 | ) | (373 | ) | (204 | ) | 17 | (1,586 | ) | ||||||||||||||||||||||||||||||||
Ending balance | $ | 1,074 | $ | 496 | $ | 1,102 | $ | 4,699 | $ | - | $ | - | $ | - | $ | 8 | $ | 654 | $ | 1,463 | $ | 1,046 | $ | 49 | $ | 10,591 | |||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 44 | $ | 18 | $ | 57 | $ | - | $ | - | $ | 11 | $ | - | $ | 19 | $ | 138 | $ | 382 | $ | 4 | $ | 12 | $ | 685 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,519 | 703 | 1,694 | - | 458 | 580 | 395 | 13 | 305 | 1,269 | 538 | 103 | 7,577 | ||||||||||||||||||||||||||||||||||||||||
1,563 | 721 | 1,751 | - | 458 | 591 | 395 | 32 | 443 | 1,651 | 542 | 115 | 8,262 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,563 | $ | 721 | $ | 1,751 | $ | - | $ | 458 | $ | 591 | $ | 395 | $ | 32 | $ | 443 | $ | 1,651 | $ | 542 | $ | 115 | $ | 8,262 | |||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 376 | $ | 2,889 | $ | 1,271 | $ | - | $ | - | $ | 1,073 | $ | - | $ | 143 | $ | 2,525 | $ | 2,481 | $ | 369 | $ | 90 | $ | 11,217 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 167,858 | 300,339 | 425,510 | - | 28,887 | 40,710 | 71,478 | 3,715 | 173,895 | 151,082 | 48,939 | 21,738 | 1,434,151 | ||||||||||||||||||||||||||||||||||||||||
168,234 | 303,228 | 426,781 | - | 28,887 | 41,783 | 71,478 | 3,858 | 176,420 | 153,563 | 49,308 | 21,828 | 1,445,368 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | 5,552 | 30,554 | 43,866 | - | 514 | 13,660 | 112 | 1,187 | 28,730 | 1,734 | 6,574 | 758 | 133,241 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,786 | $ | 333,782 | $ | 470,647 | $ | - | $ | 29,401 | $ | 55,443 | $ | 71,590 | $ | 5,045 | $ | 205,150 | $ | 155,297 | $ | 55,882 | $ | 22,586 | $ | 1,578,609 | |||||||||||||||||||||||||||
Commercial and industrial | CRE - owner-occupied | CRE - investor income producing | AC&D | AC&D-1-4 family construction | AC&D- lots, land, & development | AC&D- CRE | Other commercial | Residential mortgage | HELOC | Residential construction | Other loans to individuals | Total | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14 | $ | 14 | $ | 527 | $ | - | $ | - | $ | - | $ | - | $ | 18 | $ | 167 | $ | 137 | $ | 7 | $ | - | $ | 884 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,477 | 385 | 1,270 | - | 839 | 1,751 | 299 | 7 | 191 | 913 | 383 | 72 | 7,587 | ||||||||||||||||||||||||||||||||||||||||
1,491 | 399 | 1,797 | - | 839 | 1,751 | 299 | 25 | 358 | 1,050 | 390 | 72 | 8,471 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | - | - | 360 | - | - | - | - | - | - | - | - | - | 360 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,491 | $ | 399 | $ | 2,157 | $ | - | $ | 839 | $ | 1,751 | $ | 299 | $ | 25 | $ | 358 | $ | 1,050 | $ | 390 | $ | 72 | $ | 8,831 | |||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 265 | $ | 1,902 | $ | 3,216 | $ | - | $ | - | $ | 1,888 | $ | - | $ | 262 | $ | 4,513 | $ | 3,014 | $ | 66 | $ | 60 | $ | 15,186 | |||||||||||||||||||||||||||
Collectively evaluated for impairment | 116,398 | 229,919 | 321,975 | - | 19,959 | 41,002 | 56,638 | 3,450 | 136,037 | 139,338 | 33,835 | 17,546 | 1,116,097 | ||||||||||||||||||||||||||||||||||||||||
116,663 | 231,821 | 325,191 | - | 19,959 | 42,890 | 56,638 | 3,712 | 140,550 | 142,352 | 33,901 | 17,606 | 1,131,283 | |||||||||||||||||||||||||||||||||||||||||
Purchased credit-impaired | 5,737 | 35,760 | 56,996 | - | - | 22,699 | 121 | 137 | 32,826 | 1,402 | 6,920 | 1,189 | 163,787 | ||||||||||||||||||||||||||||||||||||||||
Total | $ | 122,400 | $ | 267,581 | $ | 382,187 | $ | - | $ | 19,959 | $ | 65,589 | $ | 56,759 | $ | 3,849 | $ | 173,376 | $ | 143,754 | $ | 40,821 | $ | 18,795 | $ | 1,295,070 | |||||||||||||||||||||||||||
Quantitative Reserve Look Back Periods [Table Text Block] | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Look back periods (in calendar quarters) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 15 | 15 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 15 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 15 | Minimum | |||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | As of December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | CRE-Investor | AC&D- | AC&D- lots, | ||||||||||||||||||||||||||||||||||||||||||||||||||
and | CRE-Owner | Income | 1-4 family | land, & | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Industrial | Occupied | Producing | construction | development | AC&D- CRE | Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 172,638 | $ | 328,712 | $ | 461,955 | $ | 29,401 | $ | 52,568 | $ | 71,590 | $ | 4,902 | $ | 1,121,766 | |||||||||||||||||||||||||||||||||||||
Special mention | 493 | 1,925 | 6,934 | - | 1,335 | - | - | 10,687 | |||||||||||||||||||||||||||||||||||||||||||||
Classified | 655 | 3,145 | 1,758 | - | 1,540 | - | 143 | 7,241 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,786 | $ | 333,782 | $ | 470,647 | $ | 29,401 | $ | 55,443 | $ | 71,590 | $ | 5,045 | $ | 1,139,694 | |||||||||||||||||||||||||||||||||||||
Total Loans | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | Other Loans to | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage | HELOC | Construction | Individuals | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 202,214 | $ | 147,893 | $ | 55,290 | $ | 22,445 | $ | 427,842 | |||||||||||||||||||||||||||||||||||||||||||
Special mention | 1,802 | 6,122 | 227 | 99 | 8,250 | ||||||||||||||||||||||||||||||||||||||||||||||||
Classified | 1,134 | 1,282 | 365 | 42 | 2,823 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 205,150 | $ | 155,297 | $ | 55,882 | $ | 22,586 | $ | 438,915 | |||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | 1,578,609 | |||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | CRE-Investor | AC&D- | AC&D- lots, | ||||||||||||||||||||||||||||||||||||||||||||||||||
and | CRE-Owner | Income | 1-4 family | land, & | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||
Industrial | Occupied | Producing | construction | development | AC&D- CRE | Commercial | Commercial | ||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 120,037 | $ | 260,472 | $ | 373,464 | $ | 19,959 | $ | 60,332 | $ | 56,759 | $ | 3,587 | $ | 894,610 | |||||||||||||||||||||||||||||||||||||
Special mention | 1,692 | 6,126 | 3,628 | - | 2,802 | - | 150 | 14,398 | |||||||||||||||||||||||||||||||||||||||||||||
Classified | 671 | 983 | 5,095 | - | 2,455 | - | 112 | 9,316 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 122,400 | $ | 267,581 | $ | 382,187 | $ | 19,959 | $ | 65,589 | $ | 56,759 | $ | 3,849 | $ | 918,324 | |||||||||||||||||||||||||||||||||||||
Total Loans | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | Other Loans to | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage | HELOC | Construction | Individuals | Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 169,519 | $ | 137,626 | $ | 39,824 | $ | 18,301 | $ | 365,270 | |||||||||||||||||||||||||||||||||||||||||||
Special mention | 1,864 | 2,893 | 766 | 488 | 6,011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Classified | 1,993 | 3,235 | 231 | 6 | 5,465 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 173,376 | $ | 143,754 | $ | 40,821 | $ | 18,795 | $ | 376,746 | |||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | 30-59 | 60-89 | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||
Days | Days | 90 Days | PCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | or More | Loans | Current | Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 123 | $ | 18 | $ | 73 | $ | 5,552 | $ | 168,020 | $ | 173,786 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | - | - | 1,616 | 30,554 | 301,612 | 333,782 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | - | 571 | 43,866 | 426,210 | 470,647 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | - | - | - | 514 | 28,887 | 29,401 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 13,660 | 41,783 | 55,443 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | - | - | - | 112 | 71,478 | 71,590 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 40 | 143 | - | 1,187 | 3,675 | 5,045 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 163 | 161 | 2,260 | 95,445 | 1,041,665 | 1,139,694 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 57 | 68 | 1,058 | 28,730 | 175,237 | 205,150 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 343 | 60 | 228 | 1,734 | 152,932 | 155,297 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 157 | - | 341 | 6,574 | 48,810 | 55,882 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 29 | 1 | 41 | 758 | 21,757 | 22,586 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 586 | 129 | 1,668 | 37,796 | 398,736 | 438,915 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 749 | $ | 290 | $ | 3,928 | $ | 133,241 | $ | 1,440,401 | $ | 1,578,609 | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 96 | $ | 52 | $ | 149 | $ | 5,737 | $ | 116,366 | $ | 122,400 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 418 | - | 209 | 35,760 | 231,194 | 267,581 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 655 | - | 3,161 | 56,996 | 321,375 | 382,187 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | - | - | - | - | 19,959 | 19,959 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 48 | - | 292 | 22,699 | 42,550 | 65,589 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - CRE | - | - | - | 121 | 56,638 | 56,759 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | 112 | - | 137 | 3,600 | 3,849 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 1,217 | 164 | 3,811 | 121,450 | 791,682 | 918,324 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | - | 32 | 1,340 | 32,826 | 139,178 | 173,376 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 248 | 160 | 698 | 1,402 | 141,246 | 143,754 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 25 | - | 66 | 6,920 | 33,810 | 40,821 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 14 | 11 | - | 1,189 | 17,581 | 18,795 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 287 | 203 | 2,104 | 42,337 | 331,815 | 376,746 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 1,504 | $ | 367 | $ | 5,915 | $ | 163,787 | $ | 1,123,497 | $ | 1,295,070 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid | Related | Unpaid | Related | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Principal | Allowance For | Recorded | Principal | Allowance For | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Balance | Loan Losses | Investment | Balance | Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 47 | $ | 126 | $ | - | $ | 183 | $ | 473 | $ | - | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | - | - | - | 1,815 | 1,955 | - | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | - | - | 30 | 47 | - | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 1,888 | 4,475 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | - | - | 150 | 167 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 47 | 126 | - | 4,066 | 7,117 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 322 | 420 | - | 3,080 | 3,926 | - | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 363 | 499 | - | 2,478 | 2,855 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 322 | 376 | - | 26 | 39 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | - | - | - | 58 | 62 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 1,007 | 1,295 | - | 5,642 | 6,882 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 1,054 | $ | 1,421 | $ | - | $ | 9,708 | $ | 13,999 | $ | - | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans with an Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 329 | $ | 348 | $ | 44 | $ | 82 | $ | 90 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,889 | 2,982 | 18 | 87 | 88 | 14 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,271 | 1,357 | 57 | 3,186 | 3,673 | 527 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,073 | 1,187 | 11 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 143 | 159 | 19 | 112 | 112 | 18 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 5,705 | 6,033 | 149 | 3,467 | 3,963 | 573 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 2,203 | 2,241 | 138 | 1,433 | 1,485 | 167 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,118 | 2,534 | 382 | 536 | 587 | 137 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 47 | 72 | 4 | 40 | 42 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 90 | 90 | 12 | 2 | 4 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 4,458 | 4,937 | 536 | 2,011 | 2,118 | 311 | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 10,163 | $ | 10,970 | $ | 685 | $ | 5,478 | $ | 6,081 | $ | 884 | |||||||||||||||||||||||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 376 | $ | 474 | $ | 44 | $ | 265 | $ | 563 | $ | 14 | |||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,889 | 2,982 | 18 | 1,902 | 2,043 | 14 | |||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,271 | 1,357 | 57 | 3,216 | 3,720 | 527 | |||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,073 | 1,187 | 11 | 1,888 | 4,475 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 143 | 159 | 19 | 262 | 279 | 18 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 5,752 | 6,159 | 149 | 7,533 | 11,080 | 573 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 2,525 | 2,661 | 138 | 4,513 | 5,411 | 167 | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,481 | 3,033 | 382 | 3,014 | 3,442 | 137 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 369 | 448 | 4 | 66 | 81 | 7 | |||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 90 | 90 | 12 | 60 | 66 | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 5,465 | 6,232 | 536 | 7,653 | 9,000 | 311 | |||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 11,217 | $ | 12,391 | $ | 685 | $ | 15,186 | $ | 20,080 | $ | 884 | |||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with No Related | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 382 | $ | 19 | $ | 276 | $ | 5 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,090 | 54 | 2,108 | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 620 | 24 | 980 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,034 | 98 | 2,978 | 202 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 60 | 4 | 158 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 4,186 | 199 | 6,500 | 322 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,689 | 31 | 2,688 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,390 | 19 | 1,513 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 80 | - | 20 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 23 | 1 | 64 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 3,182 | 51 | 4,285 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with no related allowance recorded | $ | 7,368 | $ | 250 | $ | 10,785 | $ | 403 | |||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans with an Allowance Recorded: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 224 | $ | - | $ | 487 | $ | 2 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 695 | 20 | 47 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,052 | 9 | 2,829 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 19 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 243 | 16 | 50 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 176 | 8 | 22 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 2,409 | 53 | 3,435 | 16 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,825 | 42 | 1,282 | 33 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,597 | 29 | 920 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 267 | 1 | 24 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 42 | 4 | 1 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 3,731 | 76 | 2,227 | 34 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 6,140 | $ | 129 | $ | 5,662 | $ | 50 | |||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 606 | $ | 19 | $ | 763 | $ | 7 | |||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 2,785 | 74 | 2,155 | 118 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 1,672 | 33 | 3,809 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - 1-4 family construction | 19 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 1,277 | 114 | 3,028 | 202 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 236 | 12 | 180 | 9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 6,595 | 252 | 9,935 | 338 | |||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 3,514 | 73 | 3,970 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 2,987 | 48 | 2,433 | 21 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 347 | 1 | 44 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 65 | 5 | 65 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 6,913 | 127 | 6,512 | 115 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 13,508 | $ | 379 | $ | 16,447 | $ | 453 | |||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | 329 | $ | 200 | |||||||||||||||||||||||||||||||||||||||||||||||||
CRE - owner-occupied | 1,616 | 209 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | 680 | 3,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | 7 | 292 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | - | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 2,632 | 4,005 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1,549 | 2,007 | |||||||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1,022 | 2,348 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 341 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other loans to individuals | 41 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 2,953 | 4,423 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | $ | 5,585 | $ | 8,428 | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Purchased Credit Impaired Loans [Table Text Block] | 1-May-14 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual principal and interest at acquisition | $ | 46,177 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccretable difference | (10,153 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 36,024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield | (5,589 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Basis in PCI loans at acquisition - estimated fair value | $ | 30,435 | |||||||||||||||||||||||||||||||||||||||||||||||||||
1-Oct-12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual principal and interest at acquisition | $ | 294,283 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccretable difference | (47,941 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected cash flows at acquisition | 246,342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield | (37,724 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Basis in PCI loans at acquisition - estimated fair value | $ | 208,618 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Accretable Yield for Purchased Credit Impaired Loans [Table Text Block] | Accretable yield table | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield, beginning of year | $ | 39,249 | $ | 42,734 | $ | 14,264 | |||||||||||||||||||||||||||||||||||||||||||||||
Addition from the Citizens South acquisition | - | - | 37,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Addition from the Provident Community acquisition | 5,589 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest income | (15,766 | ) | (14,903 | ) | (7,462 | ) | |||||||||||||||||||||||||||||||||||||||||||||||
Reclassification of nonaccretable difference due to improvement in expected cash flows | 9,886 | 12,143 | 479 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other changes, net | 1,582 | (725 | ) | (2,271 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield, end of year | $ | 40,540 | $ | 39,249 | $ | 42,734 | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Year ended | Year ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
AC&D- lots, land & development | 1 | $ | 184 | $ | 184 | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | - | - | - | 1 | 43 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 1 | 184 | 184 | 1 | 43 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | 1 | $ | 10 | $ | 10 | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||||
AC&D - lots, land, & development | - | - | - | 1 | 962 | 962 | |||||||||||||||||||||||||||||||||||||||||||||||
Other commercial | 1 | 143 | 143 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | 1 | 657 | 657 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
HELOC | 1 | 174 | 174 | 1 | 1,250 | 1,250 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 4 | 984 | 984 | 2 | 2,212 | 2,212 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 5 | $ | 1,168 | $ | 1,168 | 3 | $ | 2,255 | $ | 2,255 | |||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings With Subsequent Payment Default [Table Text Block] | Twelve months ended | Twelve months ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
CRE - investor income producing | - | $ | - | 1 | $ | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||||
- | - | 1 | 3,610 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential construction | 1 | $ | 173 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
1 | 173 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 1 | $ | 173 | 1 | $ | 3,610 | |||||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructuring Outcomes [Table Text Block] | Twelve Months Ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid in full | Paying as restructured | Foreclosure/Default | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate | - | $ | - | 1 | $ | 222 | - | $ | - | ||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms | - | - | 3 | 970 | 2 | 338 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | - | $ | - | 4 | $ | 1,192 | 2 | $ | 338 | ||||||||||||||||||||||||||||||||||||||||||||
Twelve Months Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid in full | Paying as restructured | Foreclosure/Default | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||||||||||||||||
loans | Investment | loans | Investment | loans | Investment | ||||||||||||||||||||||||||||||||||||||||||||||||
Below market interest rate | 2 | $ | 164 | 4 | $ | 2,108 | 1 | $ | 3,116 | ||||||||||||||||||||||||||||||||||||||||||||
Extended payment terms | 2 | 438 | 6 | 2,993 | - | - | |||||||||||||||||||||||||||||||||||||||||||||||
Total | 4 | $ | 602 | 10 | $ | 5,101 | 1 | $ | 3,116 | ||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, beginning of year | $ | 17,247 | $ | 4,184 | |||||||||||||||||||||||||||||||||||||||||||||||||
Disbursements | 2,369 | 16,037 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments | (5,576 | ) | (2,974 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance, end of year | $ | 14,040 | $ | 17,247 |
Note_6_FDIC_Loss_Share_Agreeme1
Note 6 - FDIC Loss Share Agreements (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||
FDIC Indemnification Asset Roll Forward [Table Text Block] | FDIC Loss Share Receivable | ||||||||
2014 | 2013 | ||||||||
Balance, beginning of period | $ | 10,025 | $ | 18,697 | |||||
Increase (decrease) in expected losses on loans | (278 | ) | 501 | ||||||
Additional losses to OREO | 96 | 817 | |||||||
Reimbursable expenses (income) | 974 | (394 | ) | ||||||
Amortization discounts and premiums, net | (3,203 | ) | (189 | ) | |||||
Reimbursements from the FDIC | (3,650 | ) | (9,720 | ) | |||||
Other changes, net | - | 313 | |||||||
Balance, end of period | $ | 3,964 | $ | 10,025 |
Note_7_Other_Real_Estate_Owned1
Note 7 - Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Other Real Estate, Non Covered, Roll Forward [Table Text Block] | Non-Covered OREO | 2014 | 2013 | ||||||
Beginning balance | $ | 9,404 | $ | 18,427 | |||||
Additions | 2,821 | 3,945 | |||||||
Acquired through merger | 2,964 | - | |||||||
Sales | (5,774 | ) | (12,324 | ) | |||||
Writedowns | (436 | ) | (644 | ) | |||||
Ending balance | $ | 8,979 | $ | 9,404 | |||||
Other Real Estate, Covered, Roll Forward [Table Text Block] | Covered OREO | 2014 | 2013 | ||||||
Beginning balance | $ | 5,088 | $ | 6,646 | |||||
Additions | 5,985 | 6,262 | |||||||
Sales | (7,894 | ) | (7,070 | ) | |||||
Writedowns | (168 | ) | (750 | ) | |||||
Ending balance | $ | 3,011 | $ | 5,088 |
Note_8_Premises_and_Equipment_
Note 8 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | 2014 | 2013 | |||||||
Buildings | $ | 37,098 | $ | 34,871 | |||||
Land | 17,154 | 16,431 | |||||||
Furniture and equipment | 9,315 | 8,677 | |||||||
Leasehold improvements | 1,448 | 1,057 | |||||||
Fixed assets in process | 815 | 389 | |||||||
Premises and equipment | 65,830 | 61,425 | |||||||
Accumulated depreciation | (6,583 | ) | (5,502 | ) | |||||
Premises and equipment, net | $ | 59,247 | $ | 55,923 |
Note_9_Goodwill_and_Intangible1
Note 9 - Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2015 | $ | 1,389 | ||||||||||||||
2016 | 1,389 | ||||||||||||||||
2017 | 1,389 | ||||||||||||||||
2018 | 1,389 | ||||||||||||||||
2019 | 1,389 | ||||||||||||||||
2020 and thereafter | 4,015 | ||||||||||||||||
$ | 10,960 | ||||||||||||||||
Schedule of Goodwill [Table Text Block] | Community | Citizens | Provident | ||||||||||||||
Capital | South | Community | Total | ||||||||||||||
Goodwill balance, December 31, 2012 | $ | 622 | $ | 22,529 | $ | - | $ | 23,151 | |||||||||
Additions | - | - | - | - | |||||||||||||
Adjustments | - | 3,306 | - | 3,306 | |||||||||||||
Goodwill balance, December 31, 2013 | 622 | 25,835 | - | 26,457 | |||||||||||||
Additions | - | - | 2,783 | 2,783 | |||||||||||||
Adjustments | - | - | - | - | |||||||||||||
Goodwill balance, December 31, 2014 | $ | 622 | $ | 25,835 | $ | 2,783 | $ | 29,240 |
Note_10_Deposits_Tables
Note 10 - Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Schedule of Deposits [Table Text Block] | 2014 | 2013 | |||||||
Noninterest bearing demand deposits | $ | 321,019 | $ | 255,861 | |||||
Interest-bearing demand deposits | 405,012 | 296,995 | |||||||
Money market deposits | 435,922 | 390,059 | |||||||
Savings | 83,820 | 48,701 | |||||||
Brokered deposits | 141,771 | 166,280 | |||||||
Certificates of deposit and other time deposits | 463,810 | 441,989 | |||||||
Total deposits | $ | 1,851,354 | $ | 1,599,885 | |||||
Schedule of Maturities of Time Deposits [Table Text Block] | Total | ||||||||
2015 | $ | 325,184 | |||||||
2016 | 160,359 | ||||||||
2017 | 28,067 | ||||||||
2018 | 24,748 | ||||||||
2019 and greater | 3,023 | ||||||||
Total time deposits | $ | 541,381 |
Note_11_Borrowings_Tables
Note 11 b Borrowings (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||
Schedule of Debt [Table Text Block] | 2014 | 2013 | ||||||||||||||||||||
Weighted | Weighted | |||||||||||||||||||||
Interest | Average | Average | ||||||||||||||||||||
Maturity | Rate | Balance | Interest Rate | Balance | Interest Rate | |||||||||||||||||
Short-term borrowings: | ||||||||||||||||||||||
Repurchase agreements | various | 0 | % | $ | - | $ | 996 | |||||||||||||||
FHLB Fixed Rate Credit | 1/13/15 | 0.21 | % | 60,000 | - | |||||||||||||||||
FHLB Fixed Rate Credit | 1/21/15 | 0.24 | % | 65,000 | - | |||||||||||||||||
FHLB Adjustable Rate Credit (1) | 1/6/14 | 0.3529 | % | - | 10,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (1) | 1/6/14 | 0.3529 | % | - | 10,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (2) | 1/21/14 | 0.2945 | % | - | 15,000 | |||||||||||||||||
Total short-term borrowings | 125,000 | 0.2256 | % | 35,996 | 0.4 | % | ||||||||||||||||
Long-term borrowings: | ||||||||||||||||||||||
FHLB Adjustable Rate Credit (3) | 1/7/16 | 0.2616 | % | 10,000 | - | |||||||||||||||||
FHLB Adjustable Rate Credit (3) | 1/7/16 | 0.2616 | % | 10,000 | - | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 1.905 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.0675 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.2588 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Fixed Rate Hybrid | 9/26/16 | 2.025 | % | 5,000 | 5,000 | |||||||||||||||||
FHLB Adjustable Rate Credit (4) | 1/21/16 | 0.2714 | % | 15,000 | - | |||||||||||||||||
Total Federal Home Loan Bank | 55,000 | 0.9197 | % | 20,000 | 2.06 | % | ||||||||||||||||
Subordinated debt | 6/30/19 | 11 | % | - | 6,895 | |||||||||||||||||
Junior subordinated debt | 6/15/36 | 1.7906 | % | 6,179 | 5,986 | |||||||||||||||||
Junior subordinated debt | 12/15/35 | 1.8106 | % | 9,456 | 9,171 | |||||||||||||||||
Junior subordinated debt | 10/1/36 | 1.9751 | % | 2,658 | - | |||||||||||||||||
Junior subordinated debt | 3/1/37 | 1.9756 | % | 5,290 | - | |||||||||||||||||
Total long-term borrowings | 78,583 | 1.2022 | % | 42,052 | 3.44 | % | ||||||||||||||||
Total borrowings | $ | 203,583 | $ | 78,048 |
Note_12_Income_Taxes_Tables
Note 12 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Current tax provision: | |||||||||||||
Federal | $ | 655 | $ | (1,248 | ) | $ | - | ||||||
State | 195 | 147 | 51 | ||||||||||
Total current tax provision | 850 | (1,101 | ) | 51 | |||||||||
Deferred tax provision: | |||||||||||||
Federal | 4,646 | 7,468 | 1,859 | ||||||||||
State | 562 | 992 | 396 | ||||||||||
Total deferred tax provision | 5,208 | 8,460 | 2,255 | ||||||||||
Net provision for income taxes | $ | 6,058 | $ | 7,359 | $ | 2,306 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Tax at the statutory federal rate | $ | 6,631 | $ | 7,706 | $ | 2,261 | |||||||
Increase (decrease) resulting from: | |||||||||||||
State income taxes, net of federal tax effect | 493 | 751 | 295 | ||||||||||
Nondeductible merger expenses | 72 | 6 | 318 | ||||||||||
Tax exempt income | (1,299 | ) | (1,008 | ) | (722 | ) | |||||||
Other permanent differences | 161 | (96 | ) | 154 | |||||||||
Provision for income taxes | $ | 6,058 | $ | 7,359 | $ | 2,306 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2014 | 2013 | |||||||||||
Deferred tax assets relating to: | |||||||||||||
Allowance for loan losses | $ | 2,990 | $ | 3,089 | |||||||||
Net unrealized losses on securities | - | 3,034 | |||||||||||
Unrealized loss on transferred securities | 766 | - | |||||||||||
Net unrealized losses on cash flow hedges | 909 | - | |||||||||||
Fair market value adjustments related to mergers | 10,362 | 12,018 | |||||||||||
Stock option expense | 2,754 | 2,524 | |||||||||||
Pre-opening costs and expenses | 242 | 276 | |||||||||||
Other real estate writedowns | 4,270 | 4,456 | |||||||||||
Deferred compensation | 3,730 | 3,560 | |||||||||||
AMT credit carry forward | 1,728 | 1,397 | |||||||||||
Net operating loss carry forwards | 11,539 | 12,032 | |||||||||||
Nonaccrual interest | - | 1,258 | |||||||||||
FDIC acquisitions | 3,261 | - | |||||||||||
Accrued incentive compensation | 795 | 706 | |||||||||||
Other | 2,934 | 1,088 | |||||||||||
Total deferred tax assets | 46,280 | 45,438 | |||||||||||
Deferred tax liabilities relating to: | |||||||||||||
Core deposit intangible | (4,086 | ) | (3,206 | ) | |||||||||
Net unrealized gains on securities | (786 | ) | - | ||||||||||
Net unrealized gains on cash flow hedges | - | (202 | ) | ||||||||||
Property and equipment | (2,644 | ) | (3,381 | ) | |||||||||
FDIC acquisitions | - | (437 | ) | ||||||||||
Deferred loan costs | (2,127 | ) | (1,131 | ) | |||||||||
Prepaid expenses | (446 | ) | (442 | ) | |||||||||
Other | (568 | ) | (321 | ) | |||||||||
Total deferred tax liabilities | (10,657 | ) | (9,120 | ) | |||||||||
Net recorded deferred tax asset | $ | 35,623 | $ | 36,318 |
Note_13_Regulatory_Matters_Tab
Note 13 - Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Capital Ratios | ||||||||||||||||||||||||
To Be Well | |||||||||||||||||||||||||
For Capital | Capitalized Under | ||||||||||||||||||||||||
Adequacy | Prompt Corrective | ||||||||||||||||||||||||
Actual | Purposes | Actions Provisions | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Park Sterling Corporation | |||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 239,557 | 13.95 | % | $ | 137,360 | 8 | % | $ | 171,700 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 231,088 | 13.46 | % | 68,680 | 4 | % | 103,020 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 231,088 | 10.17 | % | 90,931 | 4 | % | 113,664 | 5 | % | ||||||||||||||||
2013 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 234,508 | 16.46 | % | $ | 113,966 | 8 | % | $ | 142,457 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 218,552 | 15.34 | % | 56,983 | 4 | % | 85,474 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 218,552 | 11.63 | % | 75,171 | 4 | % | 93,964 | 5 | % | ||||||||||||||||
Park Sterling Bank | |||||||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 224,579 | 13.11 | % | $ | 137,089 | 8 | % | $ | 171,361 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 216,110 | 12.61 | % | 68,544 | 4 | % | 102,817 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 216,110 | 9.56 | % | 90,394 | 4 | % | 112,993 | 5 | % | ||||||||||||||||
2013 | |||||||||||||||||||||||||
Total Risk-Based Capital Ratio | $ | 209,786 | 14.77 | % | $ | 113,626 | 8 | % | $ | 142,033 | 10 | % | |||||||||||||
Tier 1 Capital Ratio | 193,830 | 13.65 | % | 56,813 | 4 | % | 85,220 | 6 | % | ||||||||||||||||
Tier 1 Leverage Ratio | 193,830 | 10.41 | % | 74,477 | 4 | % | 93,096 | 5 | % |
Note_15_Leases_Tables
Note 15 - Leases (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Leases [Abstract] | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2015 | $ | 2,133 | ||
2016 | 1,869 | ||||
2017 | 1,243 | ||||
2018 | 1,073 | ||||
2019 | 926 | ||||
Thereafter | 4,699 | ||||
Total | $ | 11,944 |
Note_16_Offbalance_Sheet_Risk_
Note 16 - Off-balance Sheet Risk (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Off Balance Sheet Risk [Abstract] | |||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | Contractual | ||||
Amount | |||||
Financial instruments whose contract amounts represent credit risk: | |||||
Undisbursed lines of credit | $ | 328,293 | |||
Standby letters of credit | 5,402 | ||||
Commercial letters of credit | 717 |
Note_17_Derivative_Financial_I1
Note 17 - Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||
Schedule of Derivative Instruments [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||
Estimated Fair Value | Estimated Fair Value | ||||||||||||||||||||||||||
Balance Sheet | Notional | Notional | |||||||||||||||||||||||||
Location | Amount | Gain | Loss | Amount | Gain | Loss | |||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||
Pay fixed swaps | Other assets and other liabilities | $ | 70,000 | $ | - | $ | 2,414 | $ | 70,000 | $ | 545 | $ | - | ||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||||
Interest rate contracts: | |||||||||||||||||||||||||||
Pay fixed rate swaps with counterparty | Other liablities | $ | 24,792 | $ | - | $ | 440 | $ | 5,626 | $ | - | $ | 258 | ||||||||||||||
Not designated as hedges: | |||||||||||||||||||||||||||
Customer-related interest rate contracts: | |||||||||||||||||||||||||||
Matched interest rate swaps with borrower | Other assets | $ | 35,289 | $ | 1,154 | $ | - | $ | - | $ | - | $ | - | ||||||||||||||
Matched interest rate swaps with counterparty | Other liabilities | 35,289 | - | 1,154 | - | - | - | ||||||||||||||||||||
$ | 70,578 | $ | 1,154 | $ | 1,154 | $ | - | $ | - | $ | - | ||||||||||||||||
Total derviatives | $ | 165,370 | $ | 1,154 | $ | 4,008 | $ | 75,626 | $ | 545 | $ | 258 | |||||||||||||||
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Effective Portion | ||||||||||||||||||||||||||
Pre-tax Gain (Loss) | Pre-tax Gain (Loss) Reclassified | ||||||||||||||||||||||||||
Recognized in OCI | Location of Amounts Reclassified | from AOCI into Income | |||||||||||||||||||||||||
2014 | 2013 | from AOCI into Income | 2014 | 2013 | |||||||||||||||||||||||
Cash flow hedges: | |||||||||||||||||||||||||||
Interest rate contracts | $ | (3,381 | ) | $ | 545 | Total interest expense | $ | 422 | $ | - | |||||||||||||||||
Pre-tax Gain (Loss) | Pre-tax Gain (Loss) | ||||||||||||||||||||||||||
Recognized in OCI | Location of Amounts | Recognized in Income | |||||||||||||||||||||||||
2014 | 2013 | Recognized in Income | 2014 | 2013 | |||||||||||||||||||||||
Fair value hedges: | |||||||||||||||||||||||||||
Interest rate contracts | |||||||||||||||||||||||||||
Pay fixed rate swaps with counterparty | - | - | Total interest income | $ | (261 | ) | $ | (175 | ) | ||||||||||||||||||
Not designated as hedges: | |||||||||||||||||||||||||||
Client-related interest rate contracts | - | - | Other income | $ | (78 | ) | $ | - | |||||||||||||||||||
$ | (339 | ) | $ | (175 | ) |
Note_18_Accumulated_Other_Comp1
Note 18 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | 31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
Before Tax Amount | Tax Expense (Benefit) | Net of Tax Amount | Before Tax Amount | Tax Expense (Benefit) | Net of Tax Amount | ||||||||||||||||||||
Securities available for sale and transferred securities: | |||||||||||||||||||||||||
Change in net unrealized gains (losses) during the period | $ | 10,464 | $ | 3,893 | $ | 6,571 | $ | (13,200 | ) | $ | (4,919 | ) | $ | (8,281 | ) | ||||||||||
Change in net unrealized loss on securities transferred to held to maturity | (2,055 | ) | (773 | ) | (1,282 | ) | - | - | - | ||||||||||||||||
Reclassification adjustment for net gains recognized in net income | (180 | ) | (67 | ) | (113 | ) | (98 | ) | (36 | ) | (62 | ) | |||||||||||||
Total securities available for sale and transferred securities | 8,229 | 3,053 | 5,176 | (13,298 | ) | (4,955 | ) | (8,343 | ) | ||||||||||||||||
Derivatives: | |||||||||||||||||||||||||
Change in the accumulated loss on effective cash flow hedge derivatives | (3,381 | ) | (1,269 | ) | (2,112 | ) | 545 | 202 | 343 | ||||||||||||||||
Reclassification adjustment for interest payments | 422 | 159 | 263 | - | - | - | |||||||||||||||||||
Total derivatives | (2,959 | ) | (1,110 | ) | (1,849 | ) | 545 | 202 | 343 | ||||||||||||||||
Total other comprehensive income (loss) | $ | 5,270 | $ | 1,943 | $ | 3,327 | $ | (12,753 | ) | $ | (4,753 | ) | $ | (8,000 | ) | ||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Securities Available for Sale | Securities Transferred from Available for Sale to Held to Maturity | Derivatives | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||
Balance, January 1, 2014 | $ | (5,145 | ) | $ | - | $ | 343 | $ | (4,802 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassifications | 5,289 | - | (2,112 | ) | 3,177 | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (113 | ) | - | 263 | 150 | ||||||||||||||||||||
Transfer of securities from available for sale to held to maturity | 1,282 | (1,282 | ) | - | - | ||||||||||||||||||||
Net other comprehensive income (loss) during the period | 6,458 | (1,282 | ) | (1,849 | ) | 3,327 | |||||||||||||||||||
Balance, December 31, 2014 | $ | 1,313 | $ | (1,282 | ) | $ | (1,506 | ) | $ | (1,475 | ) | ||||||||||||||
Balance, January 1, 2013 | $ | 3,198 | $ | - | $ | - | $ | 3,198 | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | (8,281 | ) | - | 343 | (7,938 | ) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (62 | ) | - | - | (62 | ) | |||||||||||||||||||
Net other comprehensive income (loss) during the period | (8,343 | ) | - | 343 | (8,000 | ) | |||||||||||||||||||
Balance, December 31, 2013 | $ | (5,145 | ) | $ | - | $ | 343 | $ | (4,802 | ) |
Note_19_Fair_Value_of_Financia1
Note 19 - Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements | ||||||||||||||||||||
Carrying | Estimated | Quoted Prices in Active Markets for Identical Assets or Liabilities | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||||
Amount | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
December 31, 2014: | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 51,390 | $ | 51,390 | $ | 51,390 | $ | - | $ | - | |||||||||||
Investment securities available-for-sale | 375,683 | 375,683 | 1,712 | 372,401 | 1,570 | ||||||||||||||||
Investment securities held-to-maturity | 115,741 | 117,627 | - | 117,627 | - | ||||||||||||||||
Nonmarketable equity securities | 11,532 | 11,532 | - | 11,532 | - | ||||||||||||||||
Loans held for sale | 11,602 | 11,602 | - | 11,602 | - | ||||||||||||||||
Loans, net of allowance | 1,572,431 | 1,514,294 | - | 28,800 | 1,485,494 | ||||||||||||||||
FDIC indemnification asset | 3,964 | 3,802 | - | - | 3,802 | ||||||||||||||||
Accrued interest receivable | 4,467 | 4,467 | - | 4,467 | - | ||||||||||||||||
Derivative instruments | 1,154 | 1,154 | - | 1,154 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits with no stated maturity | 1,309,973 | 1,309,973 | - | 1,309,973 | - | ||||||||||||||||
Deposits with stated maturities | 541,381 | 543,728 | - | 543,728 | - | ||||||||||||||||
Borrowings | 203,583 | 203,207 | - | 203,207 | - | ||||||||||||||||
Accrued interest payable | 398 | 398 | - | 398 | - | ||||||||||||||||
Derivative instruments | 4,008 | 4,008 | - | 4,008 | - | ||||||||||||||||
December 31, 2013: | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 55,067 | $ | 55,067 | $ | 55,067 | $ | - | $ | - | |||||||||||
Investment securities available-for-sale | 349,491 | 349,491 | 1,906 | 347,585 | - | ||||||||||||||||
Investment securities held-to-maturity | 51,972 | 51,334 | - | 51,334 | - | ||||||||||||||||
Nonmarketable equity securities | 5,905 | 5,905 | - | 5,905 | - | ||||||||||||||||
Loans held for sale | 2,430 | 2,430 | - | 2,430 | - | ||||||||||||||||
Loans, net of allowance | 1,286,977 | 1,267,349 | - | 5,884 | 1,261,465 | ||||||||||||||||
FDIC indemnification asset | 10,025 | 10,025 | - | - | 10,025 | ||||||||||||||||
Accrued interest receivable | 4,222 | 4,222 | - | 4,222 | - | ||||||||||||||||
Derivative instruments | 545 | 545 | - | 545 | - | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits with no stated maturity | 1,055,457 | 1,055,457 | - | 1,055,457 | - | ||||||||||||||||
Deposits with stated maturities | 544,428 | 545,111 | - | 545,111 | - | ||||||||||||||||
Borrowings | 78,048 | 77,899 | - | 77,899 | - | ||||||||||||||||
Accrued interest payable | 412 | 412 | - | 412 | - | ||||||||||||||||
Derivative instruments | 258 | 258 | - | 258 | - | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Quoted Prices in | Significant | Significant | ||||||||||||||||||
Active Markets for | Other | ||||||||||||||||||||
Identical | Observable | Unobservable | Assets/ | ||||||||||||||||||
Assets | Inputs | Inputs | Liabilities | ||||||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | at Fair Value | |||||||||||||||||
2014 recurring | |||||||||||||||||||||
U.S. Government agencies | $ | - | $ | 537 | $ | - | $ | 537 | |||||||||||||
Municipal securities | - | 12,851 | - | 12,851 | |||||||||||||||||
Residential agency pass-through securities | - | 147,015 | - | 147,015 | |||||||||||||||||
Residential collateralized mortgage obligations | - | 144,080 | - | 144,080 | |||||||||||||||||
Commercial mortgage-backed obligations | - | 4,868 | - | 4,868 | |||||||||||||||||
Asset-backed securities | - | 61,050 | - | 61,050 | |||||||||||||||||
Corporate and other securities | - | 2,000 | 1,570 | 3,570 | |||||||||||||||||
All other equity securities | 1,712 | - | - | 1,712 | |||||||||||||||||
Fair value loans | - | 28,800 | - | 28,800 | |||||||||||||||||
Derivative instruments | - | (2,854 | ) | - | (2,854 | ) | |||||||||||||||
2013 recurring | |||||||||||||||||||||
U.S. Government agencies | $ | - | $ | 558 | $ | - | $ | 558 | |||||||||||||
Municipal securities | - | 16,506 | - | 16,506 | |||||||||||||||||
Residential agency pass-through securities | - | 90,248 | - | 90,248 | |||||||||||||||||
Residential collateralized mortgage obligations | - | 103,349 | - | 103,349 | |||||||||||||||||
Commercial mortgage-backed obligations | - | 61,402 | - | 61,402 | |||||||||||||||||
Asset-backed securities | - | 71,077 | - | 71,077 | |||||||||||||||||
Corporate and other securities | - | 4,445 | - | 4,445 | |||||||||||||||||
All other equity securities | 1,906 | - | - | 1,906 | |||||||||||||||||
Fair value loans | - | 5,884 | - | 5,884 | |||||||||||||||||
Derivative instruments | - | 287 | - | 287 | |||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Securities | ||||||||||||||||||||
Available | |||||||||||||||||||||
For Sale | |||||||||||||||||||||
Fair value, January 1, 2013 | $ | 415 | |||||||||||||||||||
Transfer out of level 3 | (415 | ) | |||||||||||||||||||
Fair value, December 31, 2013 | $ | - | |||||||||||||||||||
Security acquired from Provident Community | 1,435 | ||||||||||||||||||||
Change in unrealized gain recognized in other comprehensive income | 135 | ||||||||||||||||||||
Fair value, December 31, 2014 | $ | 1,570 | |||||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value on a Nonrecurring Basis | ||||||||||||||||||||
Quoted Prices | |||||||||||||||||||||
in Active | Significant | ||||||||||||||||||||
Markets for | Other | Significant | |||||||||||||||||||
Identical | Observable | Unobservable | Assets/ | ||||||||||||||||||
Assets | Inputs | Inputs | (Liabilities) | ||||||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | at Fair Value | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||
OREO | $ | - | $ | - | $ | 7,408 | $ | 7,408 | |||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | - | - | 208 | 208 | |||||||||||||||||
CRE - owner-occupied | - | - | 56 | 56 | |||||||||||||||||
CRE - investor income producing | - | - | 353 | 353 | |||||||||||||||||
AC&D - lots, land, & development | - | - | - | - | |||||||||||||||||
Other commercial | - | - | 148 | 148 | |||||||||||||||||
Residential mortgage | - | - | 954 | 954 | |||||||||||||||||
HELOC | - | - | 570 | 570 | |||||||||||||||||
Residential construction | - | - | 357 | 357 | |||||||||||||||||
Other loans to individuals | - | - | 78 | 78 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
OREO | $ | - | $ | - | $ | 9,085 | $ | 9,085 | |||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial and industrial | - | - | 69 | 69 | |||||||||||||||||
CRE - owner-occupied | - | - | 73 | 73 | |||||||||||||||||
CRE - investor income producing | - | - | 2,659 | 2,659 | |||||||||||||||||
Other commercial | - | - | 93 | 93 | |||||||||||||||||
Residential mortgage | - | - | 510 | 510 | |||||||||||||||||
HELOC | - | - | 184 | 184 | |||||||||||||||||
Residential construction | - | - | 34 | 34 | |||||||||||||||||
Other loans to individuals | - | - | 1 | 1 | |||||||||||||||||
OREO Fair Value Adjustments [Table Text Block] | December 31, | ||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
OREO | $ | (604 | ) | $ | (1,394 | ) | |||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Weighted | ||||||||||||||||||||
Fair Value | Valuation Methodology | Unobservable Inputs | Range of Inputs | Average Discount | |||||||||||||||||
OREO | $ | 7,408 | Appraisals | Discount to reflect current | 0% - 59 | % | 3.68 | % | |||||||||||||
market conditions | |||||||||||||||||||||
Impaired loans | 1,744 | Probability of default | Discount to reflect probability | 0% - 100 | % | 12.99 | % | ||||||||||||||
model | and loss given default | ||||||||||||||||||||
980 | Collateral based | Discount to reflect current | 0% - 100 | % | 38.32 | % | |||||||||||||||
measurements | market conditions and | ||||||||||||||||||||
ultimate collectability | |||||||||||||||||||||
$ | 10,132 |
Note_20_Employee_and_Director_1
Note 20 - Employee and Director Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Outstanding Options | ||||||||||||||||||||||||
Weighted | Weighted | Weighted | |||||||||||||||||||||||
Average | Average | Average | |||||||||||||||||||||||
Number | Exercise | Non-Vested | Exercise | Contractual | Intrinsic | ||||||||||||||||||||
Outstanding | Price | Options | Price | Term (Years) | Value | ||||||||||||||||||||
At December 31, 2011 | 2,145,189 | $ | 7.62 | 1,037,771 | $ | 2.59 | 7.67 | $ | 7,045 | ||||||||||||||||
Options acquired through merger | 990,278 | 8.33 | - | - | |||||||||||||||||||||
Options granted | 15,000 | 4.65 | 15,000 | 4.65 | |||||||||||||||||||||
Exercised | - | - | - | - | |||||||||||||||||||||
Expired and forfeited | (30,775 | ) | 7.94 | (30,775 | ) | 7.94 | |||||||||||||||||||
Options vested | - | - | (471,804 | ) | 1.03 | ||||||||||||||||||||
At December 31, 2012 | 3,119,692 | $ | 7.84 | 550,192 | $ | 6.28 | 5.27 | $ | 102,762 | ||||||||||||||||
Options granted | - | - | - | - | |||||||||||||||||||||
Options exercised | (60,942 | ) | 5.09 | - | - | ||||||||||||||||||||
Expired and forfeited | (833,199 | ) | 9.34 | (1,667 | ) | 4.99 | |||||||||||||||||||
Options vested | - | - | (499,079 | ) | 6.39 | ||||||||||||||||||||
At December 31, 2013 | 2,225,551 | $ | 7.35 | 49,446 | $ | 5.19 | 5.65 | $ | 1,471,095 | ||||||||||||||||
Options granted | 17,500 | 6.7 | 17,500 | 6.7 | |||||||||||||||||||||
Options exercised | (54,199 | ) | 4.67 | - | - | ||||||||||||||||||||
Expired and forfeited | (17,495 | ) | 9.07 | (3,333 | ) | 4.46 | |||||||||||||||||||
Options vested | - | - | (42,780 | ) | 5.28 | ||||||||||||||||||||
At December 31, 2014 | 2,171,357 | $ | 7.4 | 20,833 | $ | 6.39 | 4.69 | $ | 1,668,621 | ||||||||||||||||
Exercisable at December 31, 2014 | 2,150,523 | $ | 7.41 | 4.65 | |||||||||||||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | Nonvested Restricted Shares | ||||||||||||||||||||||||
Weighted | |||||||||||||||||||||||||
Average | Aggregate | ||||||||||||||||||||||||
Number | Grant Date | Intrinsic | |||||||||||||||||||||||
Outstanding | Fair Value | Value | |||||||||||||||||||||||
At December 31, 2011 | 568,260 | $ | 3.91 | $ | 2,318,501 | ||||||||||||||||||||
Restricted shares granted | 78,000 | 4.75 | 407,940 | ||||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 653,499 | ||||||||||||||||||||||
At December 31, 2012 | 646,260 | $ | 4.01 | 3,379,940 | |||||||||||||||||||||
Restricted shares granted | 174,000 | 5.7 | 1,242,360 | ||||||||||||||||||||||
Expired and forfeited | (23,860 | ) | 4.59 | (170,360 | ) | ||||||||||||||||||||
Restricted shares vested | (26,001 | ) | 4.75 | (185,644 | ) | ||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 1,048,712 | ||||||||||||||||||||||
At December 31, 2013 | 770,399 | $ | 4.35 | 5,315,008 | |||||||||||||||||||||
Restricted shares granted | 238,613 | 6.53 | 1,753,806 | ||||||||||||||||||||||
Expired and forfeited | (7,250 | ) | 5.67 | (53,287 | ) | ||||||||||||||||||||
Restricted shares vested | (80,667 | ) | 5.4 | (592,906 | ) | ||||||||||||||||||||
Change in intrinsic value of stock price based performance grants | - | - | 347,428 | ||||||||||||||||||||||
At December 31, 2014 | 921,095 | $ | 4.81 | 6,770,049 | |||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Assumptions in Estimating Option Values | ||||||||||||||||||||||||
2014 | 2012 | ||||||||||||||||||||||||
Weighted-average volatility | 38.6% - 39.0 | % | 35.58 | % | |||||||||||||||||||||
Expected dividend yield | 1 | % | 0 | % | |||||||||||||||||||||
Risk-free interest rate | 2.22 | % | 0.63 | % | |||||||||||||||||||||
Expected life (years) | 7 | 0-7 |
Note_21_Summarized_Quarterly_I1
Note 21 - Summarized Quarterly Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | 2014 Quarter Ended (unaudited) | 2013 Quarter Ended (unaudited) | |||||||||||||||||||||||||||||||
4th | 3rd | 2nd | 1st | 4th | 3rd | 2nd | 1st | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||||||||||
Total interest income | $ | 22,348 | $ | 22,586 | $ | 21,157 | $ | 19,206 | $ | 19,602 | $ | 19,736 | $ | 20,144 | $ | 19,323 | |||||||||||||||||
Total interest expense | 1,792 | 1,854 | 2,078 | 1,931 | 1,900 | 1,422 | 1,473 | 1,587 | |||||||||||||||||||||||||
Net interest income | 20,556 | 20,732 | 19,079 | 17,275 | 17,702 | 18,314 | 18,671 | 17,736 | |||||||||||||||||||||||||
Provision for loan losses | (420 | ) | (484 | ) | (365 | ) | (17 | ) | 781 | (419 | ) | 75 | 309 | ||||||||||||||||||||
Net interest income after provision | 20,976 | 21,216 | 19,444 | 17,292 | 16,921 | 18,733 | 18,596 | 17,427 | |||||||||||||||||||||||||
Noninterest income | 3,351 | 3,138 | 3,978 | 3,486 | 4,155 | 3,257 | 4,106 | 3,568 | |||||||||||||||||||||||||
Noninterest expense | 19,307 | 20,648 | 18,236 | 15,743 | 15,476 | 15,670 | 16,922 | 16,031 | |||||||||||||||||||||||||
Income before taxes | 5,020 | 3,706 | 5,186 | 5,035 | 5,600 | 6,320 | 5,780 | 4,964 | |||||||||||||||||||||||||
Income tax expense | 1,564 | 1,254 | 1,760 | 1,480 | 1,561 | 2,106 | 1,968 | 1,724 | |||||||||||||||||||||||||
Preferred dividends | - | - | - | - | - | - | 302 | 51 | |||||||||||||||||||||||||
Net income | $ | 3,456 | $ | 2,452 | $ | 3,426 | $ | 3,555 | $ | 4,039 | $ | 4,214 | $ | 3,510 | $ | 3,189 | |||||||||||||||||
Basic earnings per common share | $ | 0.08 | $ | 0.06 | $ | 0.08 | $ | 0.08 | $ | 0.09 | $ | 0.1 | $ | 0.08 | $ | 0.07 | |||||||||||||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.06 | $ | 0.08 | $ | 0.08 | $ | 0.09 | $ | 0.1 | $ | 0.08 | $ | 0.07 |
Note_22_Park_Sterling_Corporat1
Note 22 - Park Sterling Corporation (Parent Company Only) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets | ||||||||||||
December 31, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
ASSETS | |||||||||||||
Cash and due from banks | $ | 3,203 | $ | 8,417 | |||||||||
Investment securities available-for-sale, at fair value | 12,851 | 16,354 | |||||||||||
Investment in banking subsidiary | 284,473 | 254,073 | |||||||||||
Nonmarketable equity securities | 1,146 | 774 | |||||||||||
Premises and equipment, net | - | 13 | |||||||||||
Other assets | 208 | 454 | |||||||||||
Total assets | $ | 301,881 | $ | 280,085 | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||
Subordinated debt | $ | 23,583 | $ | 15,157 | |||||||||
Accrued interest payable | 75 | 39 | |||||||||||
Accrued expenses and other liabilities | 3,118 | 2,769 | |||||||||||
Total liabilities | 26,776 | 17,965 | |||||||||||
Shareholders' equity: | |||||||||||||
Common Stock | 44,860 | 44,731 | |||||||||||
Additional paid-in capital | 222,819 | 222,596 | |||||||||||
Accumulated earnings (deficit) | 8,901 | (405 | ) | ||||||||||
Accumulated other comprehensive loss | (1,475 | ) | (4,802 | ) | |||||||||
Total shareholders' equity | 275,105 | 262,120 | |||||||||||
Total liabilities and shareholders' equity | $ | 301,881 | $ | 280,085 | |||||||||
Condensed Income Statement [Table Text Block] | Condensed Statements of Income | ||||||||||||
31-Dec-14 | 31-Dec-13 | 31-Dec-12 | |||||||||||
Income | |||||||||||||
Other interest income | $ | 688 | $ | 756 | $ | 1,432 | |||||||
Gain (loss) on sale of securities available-for-sale | 276 | (41 | ) | $ | 989 | ||||||||
Other income | 1 | - | 100 | ||||||||||
Total income | 965 | 715 | 2,521 | ||||||||||
Expense | |||||||||||||
Interest expense | 1,252 | 958 | 761 | ||||||||||
Other operating expense | 1,209 | 557 | 1,030 | ||||||||||
Total expense | 2,461 | 1,515 | 1,791 | ||||||||||
Loss before income taxes and equity in undistributed earnings of subsidiary | (1,496 | ) | (800 | ) | 730 | ||||||||
Income tax expense | (679 | ) | (528 | ) | 114 | ||||||||
Net loss before equity in undistributed earnings of subsidiary | (817 | ) | (272 | ) | 616 | ||||||||
Preferred dividends | - | 353 | 51 | ||||||||||
Equity in undistributed earnings of subsidiary | 13,706 | 15,577 | 3,727 | ||||||||||
Net income to common shareholders | $ | 12,889 | $ | 14,952 | $ | 4,292 | |||||||
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flow | ||||||||||||
31-Dec-14 | 31-Dec-13 | 31-Dec-12 | |||||||||||
Cash flows from operating activities | |||||||||||||
Net income | $ | 12,889 | $ | 15,305 | $ | 4,343 | |||||||
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||||||||||||
Equity in undistributed earnings in banking subsidiary | (14,385 | ) | (16,105 | ) | (3,613 | ) | |||||||
Amortization (accretion) of investment securities available-for-sale | (34 | ) | 14 | 499 | |||||||||
Other depreciation and amortization, net | 614 | 482 | 444 | ||||||||||
Loss on disposal of premises and equipment | 11 | - | - | ||||||||||
Net (gains) losses on sales of investment securities available-for-sale | (276 | ) | 41 | (989 | ) | ||||||||
Change in assets and liabilities: | |||||||||||||
(Increase) decrease in other assets | 246 | (118 | ) | 669 | |||||||||
Increase in accrued interest payable | (1,324 | ) | - | (1,272 | ) | ||||||||
Increase (decrease) in other liabilities | 264 | (22 | ) | (19 | ) | ||||||||
Net cash used for operating activities | (1,995 | ) | (403 | ) | 62 | ||||||||
Cash flows from investing activities | |||||||||||||
Proceeds from maturities and call of investment securities available-for-sale | 1,625 | - | 30,607 | ||||||||||
Proceeds from sales of investment securities available-for-sale | 2,405 | 8 | 17 | ||||||||||
Acquisition of Provident Community | (6,493 | ) | - | (24,283 | ) | ||||||||
Net cash provided by (used for) investing activities | (2,463 | ) | 8 | 6,341 | |||||||||
Cash flows from financing activities | |||||||||||||
Purchase of common stock | (1,027 | ) | (366 | ) | (15 | ) | |||||||
Proceeds from exercise of stock options | 250 | 308 | - | ||||||||||
Investment in banking subsidiary | 21 | 245 | (5,000 | ) | |||||||||
Dividends on preferred stock | - | (353 | ) | (51 | ) | ||||||||
Dividends on common stock | (3,583 | ) | (1,789 | ) | - | ||||||||
Redemption of preferred stock | - | (20,500 | ) | - | |||||||||
Dividend from banking subsidiary | 3,583 | 22,289 | - | ||||||||||
Net cash used for financing activities | (756 | ) | (166 | ) | (5,066 | ) | |||||||
Net decrease in cash and cash equivalents | (5,214 | ) | (561 | ) | 1,337 | ||||||||
Cash and cash equivalents, beginning | 8,417 | 8,978 | 7,641 | ||||||||||
Cash and cash equivalents, ending | $ | 3,203 | $ | 8,417 | $ | 8,978 | |||||||
Supplemental disclosure of noncash investing and financing activities: | |||||||||||||
Change in unrealized gain (loss) on available-for-sale securities, net of tax | $ | 5,175 | $ | (8,343 | ) | $ | 318 | ||||||
Change in unrealized gain (loss) on cash flow hedge, net of tax | (1,848 | ) | 343 | - | |||||||||
Transfer from investment securities to investment in subsidiary | - | - | 6,541 |
Note_1_Organization_and_Operat1
Note 1 - Organization and Operations (Details) (USD $) | 1 Months Ended | |||
In Millions, unless otherwise specified | Aug. 31, 2010 | 30-May-14 | Oct. 31, 2012 | Nov. 30, 2011 |
Note 1 - Organization and Operations (Details) [Line Items] | ||||
Stock Issued During Period, Value, New Issues (in Dollars) | $150 | |||
Provident Community Bancshares, Inc. [Member] | ||||
Note 1 - Organization and Operations (Details) [Line Items] | ||||
Number of Branches | 9 | |||
Citizens South Banking Corporation [Member] | ||||
Note 1 - Organization and Operations (Details) [Line Items] | ||||
Number of Branches | 21 | |||
Community Capital Corporation [Member] | ||||
Note 1 - Organization and Operations (Details) [Line Items] | ||||
Number of Branches | 18 |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Number of Reportable Segments | 1 | ||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||||||
Income Tax Expense (Benefit) (in Dollars) | $1,564,000 | $1,254,000 | $1,760,000 | $1,480,000 | $1,561,000 | $2,106,000 | $1,968,000 | $1,724,000 | $6,058,000 | $7,359,000 | $2,306,000 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 238,613 | 174,000 | 78,000 | ||||||||
Stock Repurchased During Period, Shares | 136,743 | 56,267 | 3,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 54,199 | 60,943 | |||||||||
Shares Paid for Tax Withholding for Share Based Compensation | 19,942 | ||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 322,543 | 87,845 | 6,822 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 7 years | ||||||||||
Allocated Share-based Compensation Expense (in Dollars) | 1,100,000 | 1,800,000 | 2,000,000 | ||||||||
General Fair Value Hedge Information, Dollar Offset Threshold, Minimum | 80.00% | 80.00% | |||||||||
General Fair Value Hedge Information, Dollar Offset Threshold, Maximum | 125.00% | 125.00% | |||||||||
Equity Option [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,927,740 | 2,177,592 | 3,118,891 | ||||||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 243,617 | 47,959 | 801 | ||||||||
Restricted Stock [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 842,170 | 730,514 | 640,239 | ||||||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 78,925 | 39,885 | 6,021 | ||||||||
Furniture and Fixtures [Member] | Maximum [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Property, Plant and Equipment, Useful Life | 7 years | ||||||||||
Furniture and Fixtures [Member] | Minimum [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||||||
Building [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Property, Plant and Equipment, Useful Life | 39 years 6 months | ||||||||||
Community Affordable Housing Equity Corporation [Member] | Other Assets [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Qualified Affordable Housing Project Investments (in Dollars) | 508,000 | 508,000 | |||||||||
Community Affordable Housing Equity Corporation [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Income Tax Expense (Benefit) (in Dollars) | -10,000 | ||||||||||
Other than Temporary Impairment Losses, Investments (in Dollars) | $0 | ||||||||||
Core Deposits [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||||||
Citizens South Banking Corporation [Member] | |||||||||||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||||||
Stock Issued During Period, Shares, Acquisitions | 11,857,226 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Basic and Diluted Earnings Per Common Share | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Basic and Diluted Earnings Per Common Share [Abstract] | |||
Weighted-average number of common shares outstanding excluding unvested restricted shares | 43,924,457 | 43,965,408 | 35,101,407 |
Effect of dilutive stock options and unvested shares | 322,543 | 87,845 | 6,822 |
Weighted-average number of common shares and dilutive potential common shares outstanding | 44,247,000 | 44,053,253 | 35,108,229 |
Note_3_Business_Combinations_D
Note 3 - Business Combinations (Details) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 1-May-14 | Oct. 01, 2012 | |
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Goodwill | $29,240,000 | $26,457,000 | $29,240,000 | $26,457,000 | $23,151,000 | ||||||||
Provision for Loan and Lease Losses | -420,000 | -484,000 | -365,000 | -17,000 | 781,000 | -419,000 | 75,000 | 309,000 | -1,286,000 | 746,000 | 2,023,000 | ||
Preferred Stock, Shares Issued (in Shares) | 0 | 0 | 0 | 0 | |||||||||
Series A Preferred Stock [Member] | Warrant [Member] | Provident Community Bancshares, Inc. [Member] | United States Treasury [Member] | |||||||||||||
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Payments to Acquire Businesses, Gross | 5,100,000 | ||||||||||||
Discount from Face Value | 45.00% | ||||||||||||
Provident Community Bancshares, Inc. [Member] | Provident Community Common Stockholders [Member] | |||||||||||||
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Payments to Acquire Businesses, Gross | 1,400,000 | ||||||||||||
Provident Community Bancshares, Inc. [Member] | |||||||||||||
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Business Acquisition, Share Price (in Dollars per share) | $0.78 | ||||||||||||
Payments to Acquire Businesses, Gross | 1,397,000 | ||||||||||||
Goodwill | 2,783,000 | 2,783,000 | 3,400,000 | ||||||||||
Provision for Loan and Lease Losses | 500,000 | ||||||||||||
Business Combination, Acquisition Related Costs | 3,600,000 | ||||||||||||
Business Combination, Consideration Transferred | 6,493,000 | ||||||||||||
Citizens South Banking Corporation [Member] | |||||||||||||
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Business Acquisition, Share Price (in Dollars per share) | $7 | ||||||||||||
Payments to Acquire Businesses, Gross | 24,300,000 | ||||||||||||
Goodwill | 25,835,000 | 25,835,000 | 25,835,000 | 25,835,000 | 22,529,000 | ||||||||
Business Acquisition, Stock Issued Per Share of Stock Held (in Shares) | 1.4799 | ||||||||||||
Maximum Percent of Merger Allowable in Cash | 30.00% | ||||||||||||
Maximum Amount of Merger Paid in Common Stock | 70.00% | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 11,857,226 | ||||||||||||
Share Price (in Dollars per share) | $4.94 | ||||||||||||
Business Combination, Consideration Transferred | 82,900,000 | ||||||||||||
Preferred Stock, Shares Issued (in Shares) | 20,500 | ||||||||||||
Provident Community Common Stockholders [Member] | |||||||||||||
Note 3 - Business Combinations (Details) [Line Items] | |||||||||||||
Goodwill | $2,800,000 | $2,800,000 |
Note_3_Business_Combinations_D1
Note 3 - Business Combinations (Details) - Assets Acquired and Liabilities Assumed at Acquisition Date (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 1-May-14 |
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Goodwill resulting from acquisition | $29,240 | $26,457 | $23,151 | |
As Recorded By Acquiree [Member] | Provident Community Bancshares, Inc. [Member] | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Cash and cash equivalents | 65,538 | |||
Securities | 124,035 | |||
Nonmarketable equity securities | 2,948 | |||
Loans held for sale | 390 | |||
Loans, net of allowance | 112,412 | |||
Premises and equipment | 3,150 | |||
Interest receivable | 748 | |||
Other real estate owned | 3,666 | |||
Bank owned life insurance | 8,536 | |||
Deferred tax asset | 1,628 | |||
Other assets | 1,438 | |||
Total assets acquired | 324,489 | |||
Deposits | 264,281 | |||
Federal Home Loan Bank advances | 37,500 | |||
Junior Subordinated Debt | 12,372 | |||
Short term borrowings | 4,760 | |||
Other liabilities | 2,087 | |||
Total liabilities assumed | 321,000 | |||
Total identifiable assets | 3,489 | |||
Fair Value And Other Merger Related Adjustments [Member] | Provident Community Bancshares, Inc. [Member] | ||||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Loans, net of allowance | -6,797 | |||
Premises and equipment | 32 | |||
Core deposit intangibles | 3,600 | |||
Interest receivable | -3 | |||
Other real estate owned | -702 | |||
Deferred tax asset | 4,828 | |||
Other assets | -218 | |||
Total assets acquired | 740 | |||
Deposits | 177 | |||
Federal Home Loan Bank advances | 3,915 | |||
Junior Subordinated Debt | -4,558 | |||
Other liabilities | 985 | |||
Total liabilities assumed | 519 | |||
Total identifiable assets | 221 | |||
Provident Community Bancshares, Inc. [Member] | ||||
Consideration Paid | ||||
Cash | 1,397 | |||
Fair value of non-controlling interest | 5,096 | |||
Fair Value of Total Consideration Transferred | 6,493 | |||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||||
Cash and cash equivalents | 65,538 | |||
Securities | 124,035 | |||
Nonmarketable equity securities | 2,948 | |||
Loans held for sale | 390 | |||
Loans, net of allowance | 105,615 | |||
Premises and equipment | 3,182 | |||
Core deposit intangibles | 3,600 | |||
Interest receivable | 745 | |||
Other real estate owned | 2,964 | |||
Bank owned life insurance | 8,536 | |||
Deferred tax asset | 6,456 | |||
Other assets | 1,220 | |||
Total assets acquired | 325,229 | |||
Deposits | 264,458 | |||
Federal Home Loan Bank advances | 41,415 | |||
Junior Subordinated Debt | 7,814 | |||
Short term borrowings | 4,760 | |||
Other liabilities | 3,072 | |||
Total liabilities assumed | 321,519 | |||
Total identifiable assets | 3,710 | |||
Goodwill resulting from acquisition | $2,783 | $3,400 |
Note_3_Business_Combinations_D2
Note 3 - Business Combinations (Details) - Pro Forma Information (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Pro Forma Information [Abstract] | ||
Total revenues (net interest income plus other income) | $93,139 | $97,709 |
Net income | $9,549 | $12,434 |
Note_4_Investments_Details
Note 4 - Investments (Details) (USD $) | 12 Months Ended | 3 Months Ended |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 4 - Investments (Details) [Line Items] | ||
Securities Available For Sale Transferred To Held To Maturity | $58,972,000 | |
Other Comprehensive Income Reclassification Adjustment Available For Sale Securities Transferred To Held To Maturity Before Tax | -2,055,000 | |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 118,532,000 | 51,972,000 |
Held-to-maturity Securities | 115,741,000 | 51,972,000 |
Available-for-sale Securities Pledged as Collateral | 162,800,000 | 99,500,000 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 23 | 5 |
Marketable Securities, Unrealized Gain (Loss) | 232,000 | |
Nonmarketable Equity Securities | 11,532,000 | 5,905,000 |
Federal Home Loan Bank Stock | 10,100,000 | 4,900,000 |
Commercial Mortgage Backed Securities [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Other Comprehensive Income Reclassification Adjustment Available For Sale Securities Transferred To Held To Maturity Before Tax | -2,100,000 | |
Commercial Mortgage Backed Securities [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Securities Available For Sale Transferred To Held To Maturity | 58,500,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), before Tax | 2,200,000 | |
Available-for-sale Securities, Accumulated Gross Unrealized Gain (Loss), Net of Tax | 1,500,000 | |
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 60,783,000 | |
Commercial Mortgage Backed Securities [Member] | Reported Value Measurement [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Held-to-maturity Securities | 58,000,000 | |
Delegated Underwriting and Servicing (DUS) [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 56,800,000 | 55,700,000 |
Private-Label Securities Collateralized by Commercial Properties [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Mortgage-backed Securities Available-for-sale, Fair Value Disclosure | 6,000,000 | 5,700,000 |
Asset-backed Securities [Member] | Four Investments Held in Senior Tranches [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Marketable Securities | 23,600,000 | |
Asset-backed Securities [Member] | Amendement Made in One Investment Held in Senior Tranches [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Marketable Securities | 5,000,000 | |
Asset-backed Securities [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 5,978,000 | 5,865,000 |
Marketable Securities | 6,000,000 | 5,700,000 |
Gain (Loss) on Sale of Securities, Net | -33,000 | |
Aggregate Cost [Member] | ||
Note 4 - Investments (Details) [Line Items] | ||
Nonmarketable Equity Securities | $11,500,000 | $5,900,000 |
Note_4_Investments_Details_Amo
Note 4 - Investments (Details) - Amortized Cost and Fair Value of Investment Portfolio (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Securities available-for-sale: | ||
Amortized cost | $373,576 | $357,668 |
Gross unrealized gains | 4,410 | 2,031 |
Gross unrealized losses | -2,303 | -10,208 |
Fair Value | 375,683 | 349,491 |
Securities held-to-maturity: | ||
Securities held-to-maturity - Amortized cost | 118,532 | 51,972 |
Securities held-to-maturity - Gross unrealized gains | 1,247 | |
Securities held-to-maturity - Gross unrealized losses | -2,152 | -638 |
Securities held-to-maturity - Fair Value | 117,627 | 51,334 |
2013 | 1,202 | |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 508 | 513 |
Gross unrealized gains | 29 | 45 |
Fair Value | 537 | 558 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 11,955 | 15,826 |
Gross unrealized gains | 896 | 680 |
Fair Value | 12,851 | 16,506 |
Residential Agency Pass-Through Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 144,955 | 90,043 |
Gross unrealized gains | 2,156 | 741 |
Gross unrealized losses | -96 | -536 |
Fair Value | 147,015 | 90,248 |
Securities held-to-maturity: | ||
Securities held-to-maturity - Amortized cost | 43,331 | 41,125 |
Securities held-to-maturity - Gross unrealized gains | 1,123 | |
Securities held-to-maturity - Gross unrealized losses | -392 | |
Securities held-to-maturity - Fair Value | 44,454 | 40,733 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 144,773 | 105,667 |
Gross unrealized gains | 625 | 51 |
Gross unrealized losses | -1,318 | -2,369 |
Fair Value | 144,080 | 103,349 |
Securities held-to-maturity: | ||
Securities held-to-maturity - Amortized cost | 8,440 | 4,982 |
Securities held-to-maturity - Gross unrealized gains | 124 | |
Securities held-to-maturity - Gross unrealized losses | -74 | |
Securities held-to-maturity - Fair Value | 8,564 | 4,908 |
Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 4,974 | 66,396 |
Gross unrealized losses | -106 | -4,994 |
Fair Value | 4,868 | 61,402 |
Securities held-to-maturity: | ||
Securities held-to-maturity - Amortized cost | 60,783 | |
Securities held-to-maturity - Gross unrealized losses | -2,041 | |
Securities held-to-maturity - Fair Value | 58,742 | |
Asset-backed Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 61,833 | 73,369 |
Gross unrealized gains | 1 | |
Gross unrealized losses | -783 | -2,293 |
Fair Value | 61,050 | 71,077 |
Securities held-to-maturity: | ||
Securities held-to-maturity - Amortized cost | 5,978 | 5,865 |
Securities held-to-maturity - Gross unrealized losses | -111 | -172 |
Securities held-to-maturity - Fair Value | 5,867 | 5,693 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 3,328 | 4,461 |
Gross unrealized gains | 242 | |
Gross unrealized losses | -16 | |
Fair Value | 3,570 | 4,445 |
Equity Securities [Member] | ||
Securities available-for-sale: | ||
Amortized cost | 1,250 | 1,393 |
Gross unrealized gains | 462 | 513 |
Fair Value | $1,712 | $1,906 |
Note_4_Investments_Details_Mat
Note 4 - Investments (Details) - Maturities of Investment Portfolio (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Total securities available-for-sale | $373,576 | $357,668 |
Total securities available-for-sale | 375,683 | 349,491 |
Total securities held-to-maturity | 118,532 | 51,972 |
Total securities held-to-maturity | 117,627 | 51,334 |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Due after one year through five years | 508 | |
Due after one year through five years | 537 | |
Total securities available-for-sale | 508 | 513 |
Total securities available-for-sale | 537 | 558 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 11,955 | |
Securities available-for-sale, due after ten years - fair value | 12,851 | |
Total securities available-for-sale | 11,955 | 15,826 |
Total securities available-for-sale | 12,851 | 16,506 |
Residential Agency Pass-Through Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 133,601 | |
Securities available-for-sale, due after ten years - fair value | 135,483 | |
Total securities available-for-sale | 144,955 | 90,043 |
Total securities available-for-sale | 147,015 | 90,248 |
Total securities held-to-maturity | 43,331 | 41,125 |
Total securities held-to-maturity | 44,454 | 40,733 |
Securities available-for-sale, due after five years through ten years - amortized cost | 11,354 | |
Securities available-for-sale, due after five years through ten years - fair value | 11,532 | |
Collateralized Mortgage Obligations [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 136,579 | |
Securities available-for-sale, due after ten years - fair value | 135,993 | |
Total securities available-for-sale | 144,773 | 105,667 |
Total securities available-for-sale | 144,080 | 103,349 |
Securities held-to-maturity, due after ten years- amortized cost | 8,440 | |
Securities held-to-maturity, due after ten years- fair value | 8,564 | |
Total securities held-to-maturity | 8,440 | 4,982 |
Total securities held-to-maturity | 8,564 | 4,908 |
Securities available-for-sale, due after five years through ten years - amortized cost | 8,194 | |
Securities available-for-sale, due after five years through ten years - fair value | 8,087 | |
Commercial Mortgage Backed Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Total securities available-for-sale | 4,974 | 66,396 |
Total securities available-for-sale | 4,868 | 61,402 |
Total securities held-to-maturity | 60,783 | |
Total securities held-to-maturity | 58,742 | |
Due after five years through ten years | 60,783 | |
Due after five years through ten years | 58,742 | |
Securities available-for-sale, due after five years through ten years - amortized cost | 4,974 | |
Securities available-for-sale, due after five years through ten years - fair value | 4,868 | |
Asset-backed Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 61,833 | |
Securities available-for-sale, due after ten years - fair value | 61,050 | |
Total securities available-for-sale | 61,833 | 73,369 |
Total securities available-for-sale | 61,050 | 71,077 |
Securities held-to-maturity, due after ten years- amortized cost | 5,978 | |
Securities held-to-maturity, due after ten years- fair value | 5,867 | |
Total securities held-to-maturity | 5,978 | 5,865 |
Total securities held-to-maturity | 5,867 | 5,693 |
Corporate Debt Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 3,328 | |
Securities available-for-sale, due after ten years - fair value | 3,570 | |
Total securities available-for-sale | 3,328 | 4,461 |
Total securities available-for-sale | 3,570 | 4,445 |
Equity Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities available-for-sale, due after ten years - amortized cost | 1,250 | |
Securities available-for-sale, due after ten years - fair value | 1,712 | |
Total securities available-for-sale | 1,250 | 1,393 |
Total securities available-for-sale | 1,712 | 1,906 |
Residential Mortgage Backed Securities [Member] | ||
Note 4 - Investments (Details) - Maturities of Investment Portfolio [Line Items] | ||
Securities held-to-maturity, due after ten years- amortized cost | 43,331 | |
Securities held-to-maturity, due after ten years- fair value | $44,454 |
Note_4_Investments_Details_Sal
Note 4 - Investments (Details) - Sales of Investment Securities Available-for-sale (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Sales of Investment Securities Available-for-sale [Abstract] | |||
Proceeds from sales | $161,434 | $28,128 | $46,367 |
Gross realized gains | 427 | 343 | 1,478 |
Gross realized losses | ($247) | ($245) |
Note_4_Investments_Details_Inv
Note 4 - Investments (Details) - Investment Portfolio Gross Unrealized Losses and Fair Value (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | $67,650 | $190,972 |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -438 | -7,722 |
Securities available-for-sale unrealized loss 12 months or more fair value | 80,071 | 42,164 |
Securities available-for-sale unrealized loss 12 months or more unrealized losses | -1,865 | -2,486 |
Securities available-for-sale unrealized loss fair value | 147,721 | 233,136 |
Securities available-for-sale unrealized loss unrealized losses | -2,303 | -10,208 |
Securities held-to-maturity: | ||
Securities Held To Maturity Unrealized Loss less than 12 months fair value | 51,334 | |
Securities Held To Maturity Unrealized Loss less than 12 months unrealized losses | -638 | |
Securities Held To Maturity Unrealized Loss 12 months or more fair value | 64,610 | |
Securities Held To Maturity Unrealized Loss 12 months or more unrealized losses | -2,152 | |
Securities Held To Maturity Unrealized Loss fair value | 64,610 | 51,334 |
Securities Held To Maturity Unrealized Loss unrealized losses | -2,152 | -638 |
Residential Agency Pass-Through Securities [Member] | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | 32,674 | |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -536 | |
Securities available-for-sale unrealized loss 12 months or more fair value | 3,857 | |
Securities available-for-sale unrealized loss 12 months or more unrealized losses | -96 | |
Securities available-for-sale unrealized loss fair value | 3,857 | 32,674 |
Securities available-for-sale unrealized loss unrealized losses | -96 | -536 |
Securities held-to-maturity: | ||
Securities Held To Maturity Unrealized Loss less than 12 months fair value | 40,733 | |
Securities Held To Maturity Unrealized Loss less than 12 months unrealized losses | -392 | |
Securities Held To Maturity Unrealized Loss fair value | 40,733 | |
Securities Held To Maturity Unrealized Loss unrealized losses | -392 | |
Collateralized Debt Obligations [Member] | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | 29,122 | 55,856 |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -142 | -1,687 |
Securities available-for-sale unrealized loss 12 months or more fair value | 48,824 | 18,167 |
Securities available-for-sale unrealized loss 12 months or more unrealized losses | -1,176 | -682 |
Securities available-for-sale unrealized loss fair value | 77,946 | 74,023 |
Securities available-for-sale unrealized loss unrealized losses | -1,318 | -2,369 |
Securities held-to-maturity: | ||
Securities Held To Maturity Unrealized Loss less than 12 months fair value | 4,908 | |
Securities Held To Maturity Unrealized Loss less than 12 months unrealized losses | -74 | |
Securities Held To Maturity Unrealized Loss 12 months or more fair value | 58,743 | |
Securities Held To Maturity Unrealized Loss 12 months or more unrealized losses | -2,041 | |
Securities Held To Maturity Unrealized Loss fair value | 58,743 | 4,908 |
Securities Held To Maturity Unrealized Loss unrealized losses | -2,041 | -74 |
Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | 42,391 | |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -3,247 | |
Securities available-for-sale unrealized loss 12 months or more fair value | 4,868 | 19,011 |
Securities available-for-sale unrealized loss 12 months or more unrealized losses | -106 | -1,747 |
Securities available-for-sale unrealized loss fair value | 4,868 | 61,402 |
Securities available-for-sale unrealized loss unrealized losses | -106 | -4,994 |
Asset-backed Securities [Member] | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | 38,528 | 56,106 |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -296 | -2,236 |
Securities available-for-sale unrealized loss 12 months or more fair value | 22,522 | 4,986 |
Securities available-for-sale unrealized loss 12 months or more unrealized losses | -487 | -57 |
Securities available-for-sale unrealized loss fair value | 61,050 | 61,092 |
Securities available-for-sale unrealized loss unrealized losses | -783 | -2,293 |
Securities held-to-maturity: | ||
Securities Held To Maturity Unrealized Loss less than 12 months fair value | 5,693 | |
Securities Held To Maturity Unrealized Loss less than 12 months unrealized losses | -172 | |
Securities Held To Maturity Unrealized Loss 12 months or more fair value | 5,867 | |
Securities Held To Maturity Unrealized Loss 12 months or more unrealized losses | -111 | |
Securities Held To Maturity Unrealized Loss fair value | 5,867 | 5,693 |
Securities Held To Maturity Unrealized Loss unrealized losses | -111 | -172 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale: | ||
Securities available-for-sale unrealized loss less than 12 months fair value | 3,945 | |
Securities available-for-sale unrealized loss less than 12 months unrealized losses | -16 | |
Securities available-for-sale unrealized loss fair value | 3,945 | |
Securities available-for-sale unrealized loss unrealized losses | ($16) |
Note_5_Loans_and_Allowance_for2
Note 5 - Loans and Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Net Reported Amount, Covered | $42,300,000 | $71,100,000 | |
Financing Receivable, Gross | 1,578,609,000 | 1,295,070,000 | |
Loans and Leases Receivable, Allowance | 8,262,000 | 8,831,000 | |
Qualitative Reserve Other Adjustment Rate | 0.05% | ||
Qualitative Reserve Other Maximum Adjustment | 0.50% | ||
Specific Review Loan Threshold | 1,000,000 | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | 125,000 | 125,000 | |
Threshold for Loans Evaluated for Impairment | 150,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 379,000 | 453,000 | |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 30,000 | 17,000 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 158,000 | 310,000 | 157,000 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 1,100,000 | 3,000,000 | 540,000 |
Impaired Financing Receivable, Unpaid Principal Balance | 12,391,000 | 20,080,000 | |
Impaired Financing Receivable, Recorded Investment | 11,217,000 | 15,186,000 | |
Impaired Financing Receivable, Related Allowance | 685,000 | 884,000 | |
Financing Receivable, Modifications, Number of Contracts | 5 | 3 | |
Financing Receivable, Modifications, Recorded Investment | 4,100,000 | 8,200,000 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 5,585,000 | 8,428,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 3,200,000 | ||
Below Market Interest Rate [Member] | Commercial Portfolio Segment [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | ||
Below Market Interest Rate [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |
Extended Payment Terms [Member] | Commercial Portfolio Segment [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Extended Payment Terms [Member] | Consumer Portfolio Segment [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | ||
Extended Payment Terms [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 4 | 2 | |
Purchased Credit Impaired Loans [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Net Reported Amount, Covered | 39,800,000 | 68,000,000 | |
Impaired Financing Receivables Net Impairment Recovery | 209,000 | 607,000 | |
Impaired Financing Receivable, Unpaid Principal Balance | 165,700,000 | 197,000,000 | |
Impaired Financing Receivable, Recorded Investment | 133,200,000 | 163,800,000 | |
Percentage of Total Assets | 5.60% | 8.40% | |
All Other Loans [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Net Reported Amount, Covered | 2,500,000 | 3,200,000 | |
Loans Sold to Other Financial Institutions [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Loans Receivable, Net | 6,500,000 | 3,300,000 | |
Purchased Performing Loans [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Loans and Leases Receivable, Allowance | 117,000 | 0 | |
Loans Receivable, Fair Value Disclosure | 3,000,000 | 4,500,000 | |
Troubled Debt Restructurings [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Impaired Financing Receivable, Related Allowance | 373,000 | 565,000 | |
Servicing For Other Facility [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Recorded Investment, Current | 3,700,000 | ||
Sold with Limited Recourse [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Increase (Decrease) in Loans Held-for-sale | 58,800,000 | 110,100,000 | |
Purchased Credit Impaired Loans [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Gross | 133,241,000 | 163,787,000 | |
Impaired Financing Receivables Net Impairment Recovery | 209,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | -360,000 | ||
FDIC Loss Share Agreement [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Impaired Financing Receivables Net Impairment Recovery | -278,000 | ||
Accruing TDRs [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 379,000 | 453,000 | 150,000 |
Troubled Debt Restructurings [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 841,000 | 4,400,000 | |
Commercial Portfolio Segment [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 252,000 | 338,000 | |
Consumer Portfolio Segment [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 127,000 | 115,000 | |
Cumulative To Date [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 18 | 11 | |
Quantitative Component [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | -3,500,000 | ||
Qualitative Component [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 3,400,000 | ||
Specific Reserves [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | -199,000 | ||
Minimum [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Qualitative Reserve Applicable Rate | 0.00% | ||
Maximum [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Qualitative Reserve Applicable Rate | 0.15% | ||
Outside United States [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
Financing Receivable, Gross | $0 | $0 |
Note_5_Loans_and_Allowance_for3
Note 5 - Loans and Allowance for Loan Losses (Details) - Loan Portfolio (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial and Industrial [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Commercial and industrial | $5,552 | $5,737 |
Commercial and Industrial [Member] | All Other Loans [Member] | ||
Commercial: | ||
Commercial and industrial | 168,234 | 116,663 |
Commercial and Industrial [Member] | Total [Member] | ||
Commercial: | ||
Commercial and industrial | 173,786 | 122,400 |
Commercial and Industrial [Member] | ||
Commercial: | ||
Total commercial loans | 173,786 | 122,400 |
Commercial Real Estate Owner Occupied [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 30,554 | 35,760 |
Commercial Real Estate Owner Occupied [Member] | All Other Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 303,228 | 231,821 |
Commercial Real Estate Owner Occupied [Member] | Total [Member] | ||
Commercial: | ||
Commercial real estate loans | 333,782 | 267,581 |
Commercial Real Estate Owner Occupied [Member] | ||
Commercial: | ||
Total commercial loans | 333,782 | 267,581 |
Commercial Real Estate Investor Income Producing [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 43,866 | 56,996 |
Commercial Real Estate Investor Income Producing [Member] | All Other Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 426,781 | 325,191 |
Commercial Real Estate Investor Income Producing [Member] | Total [Member] | ||
Commercial: | ||
Commercial real estate loans | 470,647 | 382,187 |
Commercial Real Estate Investor Income Producing [Member] | ||
Commercial: | ||
Total commercial loans | 470,647 | 382,187 |
AC&D - 1 - 4 Family Construction [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Loans receivable | 514 | |
AC&D - 1 - 4 Family Construction [Member] | All Other Loans [Member] | ||
Commercial: | ||
Loans receivable | 28,887 | 19,959 |
AC&D - 1 - 4 Family Construction [Member] | Total [Member] | ||
Commercial: | ||
Loans receivable | 29,401 | 19,959 |
AC&D - 1 - 4 Family Construction [Member] | ||
Commercial: | ||
Total commercial loans | 29,401 | 19,959 |
AC&D - Lots, Land, & Development [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Loans receivable | 13,660 | 22,699 |
AC&D - Lots, Land, & Development [Member] | All Other Loans [Member] | ||
Commercial: | ||
Loans receivable | 41,783 | 42,890 |
AC&D - Lots, Land, & Development [Member] | Total [Member] | ||
Commercial: | ||
Loans receivable | 55,443 | 65,589 |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Total commercial loans | 55,443 | 65,589 |
AC&D - CRE [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Loans receivable | 112 | 121 |
AC&D - CRE [Member] | All Other Loans [Member] | ||
Commercial: | ||
Loans receivable | 71,478 | 56,638 |
AC&D - CRE [Member] | Total [Member] | ||
Commercial: | ||
Loans receivable | 71,590 | 56,759 |
AC&D - CRE [Member] | ||
Commercial: | ||
Total commercial loans | 71,590 | 56,759 |
Other Commercial [Member] | Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 1,187 | 137 |
Other Commercial [Member] | All Other Loans [Member] | ||
Commercial: | ||
Commercial real estate loans | 3,858 | 3,712 |
Other Commercial [Member] | Total [Member] | ||
Commercial: | ||
Commercial real estate loans | 5,045 | 3,849 |
Other Commercial [Member] | ||
Commercial: | ||
Total commercial loans | 5,045 | 3,849 |
Consumer: | ||
Total consumer loans | 22,586 | 18,795 |
Residential Mortgage Loans [Member] | Purchased Credit Impaired Loans [Member] | ||
Consumer: | ||
Residential mortgage | 28,730 | 32,826 |
Residential Mortgage Loans [Member] | All Other Loans [Member] | ||
Consumer: | ||
Residential mortgage | 176,420 | 140,550 |
Residential Mortgage Loans [Member] | Total [Member] | ||
Consumer: | ||
Residential mortgage | 205,150 | 173,376 |
Residential Mortgage Loans [Member] | ||
Consumer: | ||
Total consumer loans | 205,150 | 173,376 |
Home Equity Lines of Credit [Member] | Purchased Credit Impaired Loans [Member] | ||
Consumer: | ||
Home equity lines of credit (HELOC) | 1,734 | 1,402 |
Home Equity Lines of Credit [Member] | All Other Loans [Member] | ||
Consumer: | ||
Home equity lines of credit (HELOC) | 153,563 | 142,352 |
Home Equity Lines of Credit [Member] | Total [Member] | ||
Consumer: | ||
Home equity lines of credit (HELOC) | 155,297 | 143,754 |
Home Equity Lines of Credit [Member] | ||
Consumer: | ||
Total consumer loans | 155,297 | 143,754 |
Residential Construction [Member] | Purchased Credit Impaired Loans [Member] | ||
Consumer: | ||
Residential construction | 6,574 | 6,920 |
Residential Construction [Member] | All Other Loans [Member] | ||
Consumer: | ||
Residential construction | 49,308 | 33,901 |
Residential Construction [Member] | Total [Member] | ||
Consumer: | ||
Residential construction | 55,882 | 40,821 |
Residential Construction [Member] | ||
Consumer: | ||
Total consumer loans | 55,882 | 40,821 |
Other Loans to Individuals [Member] | Purchased Credit Impaired Loans [Member] | ||
Consumer: | ||
Other loans to individuals | 758 | 1,189 |
Other Loans to Individuals [Member] | All Other Loans [Member] | ||
Consumer: | ||
Other loans to individuals | 21,828 | 17,606 |
Other Loans to Individuals [Member] | Total [Member] | ||
Consumer: | ||
Other loans to individuals | 22,586 | 18,795 |
Total Consumer Loans [Member] | Purchased Credit Impaired Loans [Member] | ||
Consumer: | ||
Total consumer loans | 37,796 | 42,337 |
Total Consumer Loans [Member] | All Other Loans [Member] | ||
Consumer: | ||
Total consumer loans | 401,119 | 334,409 |
Total Consumer Loans [Member] | Total [Member] | ||
Consumer: | ||
Total consumer loans | 438,915 | 376,746 |
Total Consumer Loans [Member] | ||
Consumer: | ||
Total consumer loans | 438,915 | 376,746 |
Total loans | 1,578,609 | 1,295,070 |
Purchased Credit Impaired Loans [Member] | ||
Commercial: | ||
Total commercial loans | 95,445 | 121,450 |
Consumer: | ||
Total loans | 133,241 | 163,787 |
Total loans, net of deferred fees | 133,241 | 163,787 |
All Other Loans [Member] | ||
Commercial: | ||
Total commercial loans | 1,044,249 | 796,874 |
Consumer: | ||
Total loans | 1,445,368 | 1,131,283 |
Deferred fees | 2,084 | 738 |
Total loans, net of deferred fees | 1,447,452 | 1,132,021 |
Total [Member] | ||
Commercial: | ||
Total commercial loans | 1,139,694 | 918,324 |
Consumer: | ||
Total loans | 1,578,609 | 1,295,070 |
Deferred fees | 2,084 | 738 |
Total loans, net of deferred fees | $1,580,693 | $1,295,808 |
Note_5_Loans_and_Allowance_for4
Note 5 - Loans and Allowance for Loan Losses (Details) - Acquired Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Carrying amount: | ||
Acquired loans | $1,578,609,000 | $1,295,070,000 |
Commercial and Industrial [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 5,552,000 | 5,737,000 |
Commercial and Industrial [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 11,032,000 | 18,377,000 |
Commercial and Industrial [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 16,584,000 | 24,114,000 |
Commercial and Industrial [Member] | ||
Carrying amount: | ||
Acquired loans | 173,786,000 | 122,400,000 |
Commercial Real Estate Owner Occupied [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 30,554,000 | 35,760,000 |
Commercial Real Estate Owner Occupied [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 101,071,000 | 103,834,000 |
Commercial Real Estate Owner Occupied [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 131,625,000 | 139,594,000 |
Commercial Real Estate Owner Occupied [Member] | ||
Carrying amount: | ||
Acquired loans | 333,782,000 | 267,581,000 |
Commercial Real Estate Investor Income Producing [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 43,866,000 | 56,996,000 |
Commercial Real Estate Investor Income Producing [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 62,493,000 | 69,368,000 |
Commercial Real Estate Investor Income Producing [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 106,359,000 | 126,364,000 |
Commercial Real Estate Investor Income Producing [Member] | ||
Carrying amount: | ||
Acquired loans | 470,647,000 | 382,187,000 |
AC&D - 1 - 4 Family Construction [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 514,000 | |
AC&D - 1 - 4 Family Construction [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 97,000 | |
AC&D - 1 - 4 Family Construction [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 514,000 | 97,000 |
AC&D - 1 - 4 Family Construction [Member] | ||
Carrying amount: | ||
Acquired loans | 29,401,000 | 19,959,000 |
AC&D - Lots, Land, & Development [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 13,660,000 | 22,699,000 |
AC&D - Lots, Land, & Development [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 8,052,000 | 13,509,000 |
AC&D - Lots, Land, & Development [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 21,712,000 | 36,208,000 |
AC&D - Lots, Land, & Development [Member] | ||
Carrying amount: | ||
Acquired loans | 55,443,000 | 65,589,000 |
AC&D - CRE [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 112,000 | 121,000 |
AC&D - CRE [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 3,218,000 | |
AC&D - CRE [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 112,000 | 3,339,000 |
AC&D - CRE [Member] | ||
Carrying amount: | ||
Acquired loans | 71,590,000 | 56,759,000 |
Other Commercial [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 1,187,000 | 137,000 |
Other Commercial [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 734,000 | 1,889,000 |
Other Commercial [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 1,921,000 | 2,026,000 |
Other Commercial [Member] | ||
Carrying amount: | ||
Acquired loans | 5,045,000 | 3,849,000 |
Residential Mortgage Loans [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 28,730,000 | 32,826,000 |
Residential Mortgage Loans [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 91,291,000 | 98,104,000 |
Residential Mortgage Loans [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 120,021,000 | 130,930,000 |
Residential Mortgage Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 205,150,000 | 173,376,000 |
Home Equity Lines of Credit [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 1,734,000 | 1,402,000 |
Home Equity Lines of Credit [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 83,573,000 | 86,512,000 |
Home Equity Lines of Credit [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 85,307,000 | 87,914,000 |
Home Equity Lines of Credit [Member] | ||
Carrying amount: | ||
Acquired loans | 155,297,000 | 143,754,000 |
Residential Construction [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 6,574,000 | 6,920,000 |
Residential Construction [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 3,928,000 | 7,155,000 |
Residential Construction [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 10,502,000 | 14,075,000 |
Residential Construction [Member] | ||
Carrying amount: | ||
Acquired loans | 55,882,000 | 40,821,000 |
Other Loans to Individuals [Member] | Purchased Credit Impaired Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 758,000 | 1,189,000 |
Other Loans to Individuals [Member] | Purchased Performing Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 2,615,000 | 2,377,000 |
Other Loans to Individuals [Member] | Purchased Loans [Member] | ||
Carrying amount: | ||
Acquired loans | 3,373,000 | 3,566,000 |
Other Loans to Individuals [Member] | ||
Carrying amount: | ||
Acquired loans | 22,586,000 | 18,795,000 |
Purchased Credit Impaired Loans [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Acquired Loans [Line Items] | ||
Outstanding principal balance | 165,686,000 | 197,040,000 |
Carrying amount: | ||
Acquired loans | 133,241,000 | 163,787,000 |
Purchased Performing Loans [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Acquired Loans [Line Items] | ||
Outstanding principal balance | 367,768,000 | 408,970,000 |
Carrying amount: | ||
Acquired loans | 364,789,000 | 404,440,000 |
Purchased Loans [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Acquired Loans [Line Items] | ||
Outstanding principal balance | 533,454,000 | 606,010,000 |
Carrying amount: | ||
Acquired loans | $498,030,000 | $568,227,000 |
Note_5_Loans_and_Allowance_for5
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | $8,831,000 | $10,591,000 | $8,831,000 | $10,591,000 | $10,154,000 | ||||||
Provision for loan losses | 420,000 | 484,000 | 365,000 | 17,000 | -781,000 | 419,000 | -75,000 | -309,000 | 1,286,000 | -746,000 | -2,023,000 |
Charge-offs | -3,522,000 | ||||||||||
Recoveries | 1,936,000 | ||||||||||
Net (charge-offs) recoveries | -1,586,000 | ||||||||||
Ending balance | 8,262,000 | 8,831,000 | 8,262,000 | 8,831,000 | 10,591,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 685,000 | 884,000 | 685,000 | 884,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 7,577,000 | 7,587,000 | 7,577,000 | 7,587,000 | |||||||
Total Allowance for Loan Losses | 8,262,000 | 8,831,000 | 8,262,000 | 8,831,000 | 10,591,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 11,217,000 | 15,186,000 | 11,217,000 | 15,186,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 1,434,151,000 | 1,116,097,000 | 1,434,151,000 | 1,116,097,000 | |||||||
Recorded investments in loans | 1,578,609,000 | 1,295,070,000 | 1,578,609,000 | 1,295,070,000 | |||||||
Commercial and Industrial [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 1,491,000 | 849,000 | 1,491,000 | 849,000 | |||||||
Provision for loan losses | -254,000 | 1,693,000 | 632,000 | ||||||||
Charge-offs | -161,000 | -1,238,000 | |||||||||
Recoveries | 487,000 | 187,000 | |||||||||
Net (charge-offs) recoveries | 326,000 | -1,051,000 | |||||||||
Ending balance | 1,563,000 | 1,491,000 | 1,563,000 | 1,491,000 | 849,000 | ||||||
Total Allowance for Loan Losses | 1,563,000 | 1,491,000 | 1,563,000 | 1,491,000 | 849,000 | ||||||
Recorded investments in loans | 168,234,000 | 116,663,000 | 168,234,000 | 116,663,000 | |||||||
Commercial and Industrial [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -9,000 | ||||||||||
Commercial and Industrial [Member] | PCI Loans [Member] | FDIC Loss Share Receivable [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 104,000 | ||||||||||
Commercial and Industrial [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 225,000 | 225,000 | |||||||||
Provision for loan losses | -113,000 | 225,000 | |||||||||
Benefit attributable to FDIC loss share agreements | -104,000 | ||||||||||
Charge-offs | -216,000 | ||||||||||
Net (charge-offs) recoveries | -216,000 | ||||||||||
Ending balance | 225,000 | ||||||||||
Total Allowance for Loan Losses | 225,000 | ||||||||||
Recorded investments in loans | 5,552,000 | 5,737,000 | 5,552,000 | 5,737,000 | |||||||
Commercial and Industrial [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 703,000 | ||||||||||
Charge-offs | -565,000 | ||||||||||
Recoveries | 79,000 | ||||||||||
Net (charge-offs) recoveries | -486,000 | ||||||||||
Ending balance | 1,563,000 | 1,491,000 | 1,563,000 | 1,491,000 | 1,074,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 44,000 | 14,000 | 44,000 | 14,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 1,519,000 | 1,477,000 | 1,519,000 | 1,477,000 | |||||||
Total Allowance for Loan Losses | 1,563,000 | 1,491,000 | 1,563,000 | 1,491,000 | 1,074,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 376,000 | 265,000 | 376,000 | 265,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 167,858,000 | 116,398,000 | 167,858,000 | 116,398,000 | |||||||
Recorded investments in loans | 173,786,000 | 122,400,000 | 173,786,000 | 122,400,000 | |||||||
Commercial Real Estate Owner Occupied [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 399,000 | 496,000 | 399,000 | 496,000 | |||||||
Provision for loan losses | 252,000 | -52,000 | -40,000 | ||||||||
Charge-offs | -193,000 | -52,000 | |||||||||
Recoveries | 263,000 | 7,000 | |||||||||
Net (charge-offs) recoveries | 70,000 | -45,000 | |||||||||
Ending balance | 721,000 | 399,000 | 721,000 | 399,000 | 496,000 | ||||||
Total Allowance for Loan Losses | 721,000 | 399,000 | 721,000 | 399,000 | 496,000 | ||||||
Recorded investments in loans | 303,228,000 | 231,821,000 | 303,228,000 | 231,821,000 | |||||||
Commercial Real Estate Owner Occupied [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Recorded investments in loans | 30,554,000 | 35,760,000 | 30,554,000 | 35,760,000 | |||||||
Commercial Real Estate Owner Occupied [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 740,000 | ||||||||||
Charge-offs | -204,000 | ||||||||||
Net (charge-offs) recoveries | -204,000 | ||||||||||
Ending balance | 721,000 | 399,000 | 721,000 | 399,000 | 496,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 18,000 | 14,000 | 18,000 | 14,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 703,000 | 385,000 | 703,000 | 385,000 | |||||||
Total Allowance for Loan Losses | 721,000 | 399,000 | 721,000 | 399,000 | 496,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 2,889,000 | 1,902,000 | 2,889,000 | 1,902,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 300,339,000 | 229,919,000 | 300,339,000 | 229,919,000 | |||||||
Recorded investments in loans | 333,782,000 | 267,581,000 | 333,782,000 | 267,581,000 | |||||||
Commercial Real Estate Investor Income Producing [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 1,797,000 | 1,102,000 | 1,797,000 | 1,102,000 | |||||||
Provision for loan losses | 123,000 | 933,000 | 71,000 | ||||||||
Charge-offs | -292,000 | -718,000 | |||||||||
Recoveries | 123,000 | 480,000 | |||||||||
Net (charge-offs) recoveries | -169,000 | -238,000 | |||||||||
Ending balance | 1,751,000 | 1,797,000 | 1,751,000 | 1,797,000 | 1,102,000 | ||||||
Total Allowance for Loan Losses | 1,751,000 | 1,797,000 | 1,751,000 | 1,797,000 | 1,102,000 | ||||||
Recorded investments in loans | 426,781,000 | 325,191,000 | 426,781,000 | 325,191,000 | |||||||
Commercial Real Estate Investor Income Producing [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -354,000 | 376,000 | |||||||||
Commercial Real Estate Investor Income Producing [Member] | PCI Loans [Member] | FDIC Loss Share Receivable [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -278,000 | 205,000 | |||||||||
Commercial Real Estate Investor Income Producing [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 360,000 | 360,000 | |||||||||
Provision for loan losses | -76,000 | 171,000 | |||||||||
Benefit attributable to FDIC loss share agreements | 278,000 | -205,000 | |||||||||
Charge-offs | -6,000 | -16,000 | |||||||||
Net (charge-offs) recoveries | -6,000 | -16,000 | |||||||||
Ending balance | 360,000 | 360,000 | |||||||||
Total Allowance for Loan Losses | 360,000 | 360,000 | |||||||||
Recorded investments in loans | 43,866,000 | 56,996,000 | 43,866,000 | 56,996,000 | |||||||
Commercial Real Estate Investor Income Producing [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 2,106,000 | ||||||||||
Charge-offs | -1,132,000 | ||||||||||
Recoveries | 57,000 | ||||||||||
Net (charge-offs) recoveries | -1,075,000 | ||||||||||
Ending balance | 1,751,000 | 2,157,000 | 1,751,000 | 2,157,000 | 1,102,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 57,000 | 527,000 | 57,000 | 527,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 1,694,000 | 1,270,000 | 1,694,000 | 1,270,000 | |||||||
Total Allowance for Loan Losses | 1,751,000 | 2,157,000 | 1,751,000 | 2,157,000 | 1,102,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 1,271,000 | 3,216,000 | 1,271,000 | 3,216,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 425,510,000 | 321,975,000 | 425,510,000 | 321,975,000 | |||||||
Recorded investments in loans | 470,647,000 | 382,187,000 | 470,647,000 | 382,187,000 | |||||||
Acquisition, Construction, and Development Portfolio [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 4,157,000 | 4,157,000 | |||||||||
Provision for loan losses | -4,157,000 | -676,000 | |||||||||
Ending balance | 4,157,000 | ||||||||||
Total Allowance for Loan Losses | 4,157,000 | ||||||||||
Acquisition, Construction, and Development Portfolio [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -390,000 | ||||||||||
Acquisition, Construction, and Development Portfolio [Member] | PCI Loans [Member] | FDIC Loss Share Receivable [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 192,000 | ||||||||||
Acquisition, Construction, and Development Portfolio [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 542,000 | 542,000 | |||||||||
Provision for loan losses | -582,000 | 542,000 | |||||||||
Benefit attributable to FDIC loss share agreements | -192,000 | ||||||||||
Charge-offs | -177,000 | ||||||||||
Recoveries | 25,000 | ||||||||||
Net (charge-offs) recoveries | -152,000 | ||||||||||
Ending balance | 542,000 | ||||||||||
Total Allowance for Loan Losses | 542,000 | ||||||||||
Acquisition, Construction, and Development Portfolio [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 3,883,000 | ||||||||||
Charge-offs | -652,000 | ||||||||||
Recoveries | 1,602,000 | ||||||||||
Net (charge-offs) recoveries | 950,000 | ||||||||||
Ending balance | 4,699,000 | ||||||||||
Total Allowance for Loan Losses | 4,699,000 | ||||||||||
AC&D - 1 - 4 Family Construction [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 839,000 | 839,000 | |||||||||
Provision for loan losses | -464,000 | 705,000 | |||||||||
Charge-offs | -15,000 | -87,000 | |||||||||
Recoveries | 98,000 | 221,000 | |||||||||
Net (charge-offs) recoveries | 83,000 | 134,000 | |||||||||
Ending balance | 458,000 | 839,000 | 458,000 | 839,000 | |||||||
Total Allowance for Loan Losses | 458,000 | 839,000 | 458,000 | 839,000 | |||||||
Recorded investments in loans | 28,887,000 | 19,959,000 | 28,887,000 | 19,959,000 | |||||||
AC&D - 1 - 4 Family Construction [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Recorded investments in loans | 514,000 | 514,000 | |||||||||
AC&D - 1 - 4 Family Construction [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Ending balance | 458,000 | 839,000 | 458,000 | 839,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 458,000 | 839,000 | 458,000 | 839,000 | |||||||
Total Allowance for Loan Losses | 458,000 | 839,000 | 458,000 | 839,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 28,887,000 | 19,959,000 | 28,887,000 | 19,959,000 | |||||||
Recorded investments in loans | 29,401,000 | 19,959,000 | 29,401,000 | 19,959,000 | |||||||
AC&D - Lots, Land, & Development [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 1,751,000 | 1,751,000 | |||||||||
Provision for loan losses | -2,871,000 | 1,031,000 | |||||||||
Charge-offs | -16,000 | -6,000 | |||||||||
Recoveries | 1,727,000 | 726,000 | |||||||||
Net (charge-offs) recoveries | 1,711,000 | 720,000 | |||||||||
Ending balance | 591,000 | 1,751,000 | 591,000 | 1,751,000 | |||||||
Total Allowance for Loan Losses | 591,000 | 1,751,000 | 591,000 | 1,751,000 | |||||||
Recorded investments in loans | 41,783,000 | 42,890,000 | 41,783,000 | 42,890,000 | |||||||
AC&D - Lots, Land, & Development [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Recorded investments in loans | 13,660,000 | 22,699,000 | 13,660,000 | 22,699,000 | |||||||
AC&D - Lots, Land, & Development [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Ending balance | 591,000 | 1,751,000 | 591,000 | 1,751,000 | |||||||
Allowance for loan losses: Individually evaluated for impairment | 11,000 | 11,000 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 580,000 | 1,751,000 | 580,000 | 1,751,000 | |||||||
Total Allowance for Loan Losses | 591,000 | 1,751,000 | 591,000 | 1,751,000 | |||||||
Recorded investment in loans: Individually evaluated for impairment | 1,073,000 | 1,888,000 | 1,073,000 | 1,888,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 40,710,000 | 41,002,000 | 40,710,000 | 41,002,000 | |||||||
Recorded investments in loans | 55,443,000 | 65,589,000 | 55,443,000 | 65,589,000 | |||||||
AC&D - CRE [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 299,000 | 299,000 | |||||||||
Provision for loan losses | 96,000 | 299,000 | |||||||||
Ending balance | 395,000 | 299,000 | 395,000 | 299,000 | |||||||
Total Allowance for Loan Losses | 395,000 | 299,000 | 395,000 | 299,000 | |||||||
Recorded investments in loans | 71,478,000 | 56,638,000 | 71,478,000 | 56,638,000 | |||||||
AC&D - CRE [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Recorded investments in loans | 112,000 | 121,000 | 112,000 | 121,000 | |||||||
AC&D - CRE [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Ending balance | 395,000 | 299,000 | 395,000 | 299,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 395,000 | 299,000 | 395,000 | 299,000 | |||||||
Total Allowance for Loan Losses | 395,000 | 299,000 | 395,000 | 299,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 71,478,000 | 56,638,000 | 71,478,000 | 56,638,000 | |||||||
Recorded investments in loans | 71,590,000 | 56,759,000 | 71,590,000 | 56,759,000 | |||||||
Other Commercial [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 25,000 | 8,000 | 25,000 | 8,000 | |||||||
Provision for loan losses | 6,000 | 16,000 | 85,000 | ||||||||
Recoveries | 1,000 | 1,000 | |||||||||
Net (charge-offs) recoveries | 1,000 | 1,000 | |||||||||
Ending balance | 32,000 | 25,000 | 32,000 | 25,000 | 8,000 | ||||||
Total Allowance for Loan Losses | 32,000 | 25,000 | 32,000 | 25,000 | 8,000 | ||||||
Recorded investments in loans | 3,858,000 | 3,712,000 | 3,858,000 | 3,712,000 | |||||||
Other Commercial [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 386,000 | ||||||||||
Other Commercial [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 386,000 | ||||||||||
Charge-offs | -386,000 | ||||||||||
Net (charge-offs) recoveries | -386,000 | ||||||||||
Recorded investments in loans | 1,187,000 | 137,000 | 1,187,000 | 137,000 | |||||||
Other Commercial [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 17,000 | ||||||||||
Charge-offs | -94,000 | ||||||||||
Net (charge-offs) recoveries | -94,000 | ||||||||||
Ending balance | 32,000 | 25,000 | 32,000 | 25,000 | 8,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 19,000 | 18,000 | 19,000 | 18,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 13,000 | 7,000 | 13,000 | 7,000 | |||||||
Total Allowance for Loan Losses | 32,000 | 25,000 | 32,000 | 25,000 | 8,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 143,000 | 262,000 | 143,000 | 262,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 3,715,000 | 3,450,000 | 3,715,000 | 3,450,000 | |||||||
Recorded investments in loans | 5,045,000 | 3,849,000 | 5,045,000 | 3,849,000 | |||||||
Residential Mortgage Loans [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 358,000 | 454,000 | 358,000 | 454,000 | |||||||
Provision for loan losses | 48,000 | 319,000 | 262,000 | ||||||||
Charge-offs | -161,000 | -831,000 | |||||||||
Recoveries | 198,000 | 416,000 | |||||||||
Net (charge-offs) recoveries | 37,000 | -415,000 | |||||||||
Ending balance | 443,000 | 358,000 | 443,000 | 358,000 | 454,000 | ||||||
Total Allowance for Loan Losses | 443,000 | 358,000 | 443,000 | 358,000 | 454,000 | ||||||
Recorded investments in loans | 176,420,000 | 140,550,000 | 176,420,000 | 140,550,000 | |||||||
Residential Mortgage Loans [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 1,000 | 111,000 | |||||||||
Residential Mortgage Loans [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 200,000 | 200,000 | |||||||||
Provision for loan losses | 1,000 | 111,000 | 200,000 | ||||||||
Charge-offs | -1,000 | -311,000 | |||||||||
Net (charge-offs) recoveries | -1,000 | -311,000 | |||||||||
Ending balance | 200,000 | ||||||||||
Total Allowance for Loan Losses | 200,000 | ||||||||||
Recorded investments in loans | 28,730,000 | 32,826,000 | 28,730,000 | 32,826,000 | |||||||
Residential Mortgage Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 309,000 | ||||||||||
Charge-offs | -129,000 | ||||||||||
Recoveries | 12,000 | ||||||||||
Net (charge-offs) recoveries | -117,000 | ||||||||||
Ending balance | 443,000 | 358,000 | 443,000 | 358,000 | 654,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 138,000 | 167,000 | 138,000 | 167,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 305,000 | 191,000 | 305,000 | 191,000 | |||||||
Total Allowance for Loan Losses | 443,000 | 358,000 | 443,000 | 358,000 | 654,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 2,525,000 | 4,513,000 | 2,525,000 | 4,513,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 173,895,000 | 136,037,000 | 173,895,000 | 136,037,000 | |||||||
Recorded investments in loans | 205,150,000 | 173,376,000 | 205,150,000 | 173,376,000 | |||||||
Home Equity Lines of Credit [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 1,050,000 | 1,463,000 | 1,050,000 | 1,463,000 | |||||||
Provision for loan losses | 1,384,000 | 359,000 | -62,000 | ||||||||
Charge-offs | -852,000 | -838,000 | |||||||||
Recoveries | 69,000 | 66,000 | |||||||||
Net (charge-offs) recoveries | -783,000 | -772,000 | |||||||||
Ending balance | 1,651,000 | 1,050,000 | 1,651,000 | 1,050,000 | 1,463,000 | ||||||
Total Allowance for Loan Losses | 1,651,000 | 1,050,000 | 1,651,000 | 1,050,000 | 1,463,000 | ||||||
Recorded investments in loans | 153,563,000 | 142,352,000 | 153,563,000 | 142,352,000 | |||||||
Home Equity Lines of Credit [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 144,000 | ||||||||||
Home Equity Lines of Credit [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 144,000 | ||||||||||
Charge-offs | -144,000 | ||||||||||
Net (charge-offs) recoveries | -144,000 | ||||||||||
Recorded investments in loans | 1,734,000 | 1,402,000 | 1,734,000 | 1,402,000 | |||||||
Home Equity Lines of Credit [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 1,898,000 | ||||||||||
Charge-offs | -406,000 | ||||||||||
Recoveries | 33,000 | ||||||||||
Net (charge-offs) recoveries | -373,000 | ||||||||||
Ending balance | 1,651,000 | 1,050,000 | 1,651,000 | 1,050,000 | 1,463,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 382,000 | 137,000 | 382,000 | 137,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 1,269,000 | 913,000 | 1,269,000 | 913,000 | |||||||
Total Allowance for Loan Losses | 1,651,000 | 1,050,000 | 1,651,000 | 1,050,000 | 1,463,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 2,481,000 | 3,014,000 | 2,481,000 | 3,014,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 151,082,000 | 139,338,000 | 151,082,000 | 139,338,000 | |||||||
Recorded investments in loans | 155,297,000 | 143,754,000 | 155,297,000 | 143,754,000 | |||||||
Residential Construction [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 390,000 | 1,046,000 | 390,000 | 1,046,000 | |||||||
Provision for loan losses | 296,000 | -673,000 | 795,000 | ||||||||
Charge-offs | -201,000 | -44,000 | |||||||||
Recoveries | 57,000 | 61,000 | |||||||||
Net (charge-offs) recoveries | -144,000 | 17,000 | |||||||||
Ending balance | 542,000 | 390,000 | 542,000 | 390,000 | 1,046,000 | ||||||
Total Allowance for Loan Losses | 542,000 | 390,000 | 542,000 | 390,000 | 1,046,000 | ||||||
Recorded investments in loans | 49,308,000 | 33,901,000 | 49,308,000 | 33,901,000 | |||||||
Residential Construction [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 233,000 | ||||||||||
Residential Construction [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 233,000 | ||||||||||
Charge-offs | -233,000 | ||||||||||
Net (charge-offs) recoveries | -233,000 | ||||||||||
Recorded investments in loans | 6,574,000 | 6,920,000 | 6,574,000 | 6,920,000 | |||||||
Residential Construction [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 455,000 | ||||||||||
Charge-offs | -328,000 | ||||||||||
Recoveries | 124,000 | ||||||||||
Net (charge-offs) recoveries | -204,000 | ||||||||||
Ending balance | 542,000 | 390,000 | 542,000 | 390,000 | 1,046,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 4,000 | 7,000 | 4,000 | 7,000 | |||||||
Allowance for loan losses: Collectively evaluated for impairment | 538,000 | 383,000 | 538,000 | 383,000 | |||||||
Total Allowance for Loan Losses | 542,000 | 390,000 | 542,000 | 390,000 | 1,046,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 369,000 | 66,000 | 369,000 | 66,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 48,939,000 | 33,835,000 | 48,939,000 | 33,835,000 | |||||||
Recorded investments in loans | 55,882,000 | 40,821,000 | 55,882,000 | 40,821,000 | |||||||
Other Loans to Individuals [Member] | Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 72,000 | 49,000 | 72,000 | 49,000 | |||||||
Provision for loan losses | 29,000 | 31,000 | -11,000 | ||||||||
Charge-offs | -50,000 | -64,000 | |||||||||
Recoveries | 64,000 | 56,000 | |||||||||
Net (charge-offs) recoveries | 14,000 | -8,000 | |||||||||
Ending balance | 115,000 | 72,000 | 115,000 | 72,000 | 49,000 | ||||||
Total Allowance for Loan Losses | 115,000 | 72,000 | 115,000 | 72,000 | 49,000 | ||||||
Recorded investments in loans | 21,828,000 | 17,606,000 | 21,828,000 | 17,606,000 | |||||||
Other Loans to Individuals [Member] | PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 36,000 | ||||||||||
Other Loans to Individuals [Member] | PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | 36,000 | ||||||||||
Charge-offs | -36,000 | ||||||||||
Net (charge-offs) recoveries | -36,000 | ||||||||||
Recorded investments in loans | 758,000 | 1,189,000 | 758,000 | 1,189,000 | |||||||
Other Loans to Individuals [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 43,000 | ||||||||||
Charge-offs | -12,000 | ||||||||||
Recoveries | 29,000 | ||||||||||
Net (charge-offs) recoveries | 17,000 | ||||||||||
Ending balance | 115,000 | 72,000 | 115,000 | 72,000 | 49,000 | ||||||
Allowance for loan losses: Individually evaluated for impairment | 12,000 | 12,000 | |||||||||
Allowance for loan losses: Collectively evaluated for impairment | 103,000 | 72,000 | 103,000 | 72,000 | |||||||
Total Allowance for Loan Losses | 115,000 | 72,000 | 115,000 | 72,000 | 49,000 | ||||||
Recorded investment in loans: Individually evaluated for impairment | 90,000 | 60,000 | 90,000 | 60,000 | |||||||
Recorded investment in loans: Collectively evaluated for impairment | 21,738,000 | 17,546,000 | 21,738,000 | 17,546,000 | |||||||
Recorded investments in loans | 22,586,000 | 18,795,000 | 22,586,000 | 18,795,000 | |||||||
Excluding Purchased Credit-Impaired Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 8,471,000 | 9,624,000 | 8,471,000 | 9,624,000 | |||||||
Provision for loan losses | -1,355,000 | 504,000 | 1,056,000 | ||||||||
Charge-offs | -1,941,000 | -3,878,000 | |||||||||
Recoveries | 3,087,000 | 2,221,000 | |||||||||
Net (charge-offs) recoveries | 1,146,000 | -1,657,000 | |||||||||
Ending balance | 8,262,000 | 8,471,000 | 8,262,000 | 8,471,000 | 9,624,000 | ||||||
Total Allowance for Loan Losses | 8,262,000 | 8,471,000 | 8,262,000 | 8,471,000 | 9,624,000 | ||||||
Recorded investments in loans | 1,445,368,000 | 1,131,283,000 | 1,445,368,000 | 1,131,283,000 | |||||||
PCI Loans [Member] | Before Benefit Attributable to FDIC Loss Share Agreement [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -209,000 | 743,000 | |||||||||
PCI Loans [Member] | FDIC Loss Share Receivable [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Provision for loan losses | -278,000 | 501,000 | |||||||||
PCI Loans [Member] | |||||||||||
Note 5 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses [Line Items] | |||||||||||
Balance, beginning of year | 360,000 | 967,000 | 360,000 | 967,000 | |||||||
Provision for loan losses | 69,000 | 242,000 | 967,000 | ||||||||
Benefit attributable to FDIC loss share agreements | 278,000 | -501,000 | |||||||||
Charge-offs | -151,000 | -1,375,000 | |||||||||
Recoveries | 25,000 | ||||||||||
Net (charge-offs) recoveries | -151,000 | -1,350,000 | |||||||||
Ending balance | 360,000 | 360,000 | 967,000 | ||||||||
Total Allowance for Loan Losses | 360,000 | 360,000 | 967,000 | ||||||||
Recorded investments in loans | $133,241,000 | $163,787,000 | $133,241,000 | $163,787,000 |
Note_5_Loans_and_Allowance_for6
Note 5 - Loans and Allowance for Loan Losses (Details) - Look Back Periods to Determine Quantitative Reserve | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Commercial: | ||
Look back period- financing receivable | 45 months | |
Commercial and Industrial [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 45 months |
CRE - Owner Occupied [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | |
CRE-Investor Income Producing [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 45 months |
AC&D - 1 - 4 Family Construction [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 45 months |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 45 months |
AC&D - CRE [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | |
Other Commercial [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | |
Residential Mortgage Loans [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 36 months |
Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 36 months |
Residential Construction [Member] | ||
Commercial: | ||
Look back period- financing receivable | 45 months | 36 months |
Note_5_Loans_and_Allowance_for7
Note 5 - Loans and Allowance for Loan Losses (Details) - Loans by Credit Quality Indicators (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | $172,638 | $120,037 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 493 | 1,692 |
Commercial and Industrial [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 655 | 671 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 173,786 | 122,400 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 328,712 | 260,472 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,925 | 6,126 |
Commercial Real Estate Owner Occupied [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 3,145 | 983 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 333,782 | 267,581 |
Commercial Real Estate Investor Income Producing [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 461,955 | 373,464 |
Commercial Real Estate Investor Income Producing [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 6,934 | 3,628 |
Commercial Real Estate Investor Income Producing [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,758 | 5,095 |
Commercial Real Estate Investor Income Producing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 470,647 | 382,187 |
AC&D - 1 - 4 Family Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 29,401 | 19,959 |
AC&D - 1 - 4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 29,401 | 19,959 |
AC&D - Lots, Land, & Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 52,568 | 60,332 |
AC&D - Lots, Land, & Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,335 | 2,802 |
AC&D - Lots, Land, & Development [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,540 | 2,455 |
AC&D - Lots, Land, & Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 55,443 | 65,589 |
AC&D - CRE [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 71,590 | 56,759 |
AC&D - CRE [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 71,590 | 56,759 |
Other Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 4,902 | 3,587 |
Consumer loans | 22,445 | 18,301 |
Other Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 150 | |
Consumer loans | 99 | 488 |
Other Commercial [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 143 | 112 |
Consumer loans | 42 | 6 |
Other Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 5,045 | 3,849 |
Consumer loans | 22,586 | 18,795 |
Total Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,121,766 | 894,610 |
Total Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 10,687 | 14,398 |
Total Commercial [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 7,241 | 9,316 |
Total Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Commercial loans | 1,139,694 | 918,324 |
Residential Mortgage Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 202,214 | 169,519 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 1,802 | 1,864 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 1,134 | 1,993 |
Residential Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 205,150 | 173,376 |
Home Equity Lines of Credit [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 147,893 | 137,626 |
Home Equity Lines of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 6,122 | 2,893 |
Home Equity Lines of Credit [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 1,282 | 3,235 |
Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 155,297 | 143,754 |
Residential Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 55,290 | 39,824 |
Residential Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 227 | 766 |
Residential Construction [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 365 | 231 |
Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 55,882 | 40,821 |
Total Consumer Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 427,842 | 365,270 |
Total Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 8,250 | 6,011 |
Total Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 2,823 | 5,465 |
Total Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer loans | 438,915 | 376,746 |
Total Loans | $1,578,609 | $1,295,070 |
Note_5_Loans_and_Allowance_for8
Note 5 - Loans and Allowance for Loan Losses (Details) - Aging Analysis of Accruing and Non-Accruing Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial: | ||
Financing Receivable - Past Due 90 Days or More | $30 | $17 |
Financing Receivable - Nonaccrual | 5,585 | 8,428 |
Purchased Credit Impaired Loans [Member] | Commercial and Industrial [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 5,552 | 5,737 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 30,554 | 35,760 |
Purchased Credit Impaired Loans [Member] | Commercial Real Estate Investor Income Producing [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 43,866 | 56,996 |
Purchased Credit Impaired Loans [Member] | AC&D - 1 - 4 Family Construction [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 514 | |
Purchased Credit Impaired Loans [Member] | AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 13,660 | 22,699 |
Purchased Credit Impaired Loans [Member] | AC&D - CRE [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 112 | 121 |
Purchased Credit Impaired Loans [Member] | Other Commercial [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 1,187 | 137 |
Purchased Credit Impaired Loans [Member] | Total Commercial [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 95,445 | 121,450 |
Purchased Credit Impaired Loans [Member] | Residential Mortgage Loans [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 28,730 | 32,826 |
Purchased Credit Impaired Loans [Member] | Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 1,734 | 1,402 |
Purchased Credit Impaired Loans [Member] | Residential Construction [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 6,574 | 6,920 |
Purchased Credit Impaired Loans [Member] | Other Loans to Individuals [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 758 | 1,189 |
Purchased Credit Impaired Loans [Member] | Total Consumer Loans [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 37,796 | 42,337 |
Purchased Credit Impaired Loans [Member] | Total [Member] | ||
Commercial: | ||
Financing Receivable - PCI Loans | 133,241 | 163,787 |
Commercial and Industrial [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 123 | 96 |
Financing Receivable - 60-89 Days Past Due | 18 | 52 |
Financing Receivable - Past Due 90 Days or More | 73 | 149 |
Financing Receivable - Nonaccrual | 168,020 | 116,366 |
Financing Receivable - Current | 173,786 | 122,400 |
Commercial Real Estate Owner Occupied [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 418 | |
Financing Receivable - Past Due 90 Days or More | 1,616 | 209 |
Financing Receivable - Nonaccrual | 301,612 | 231,194 |
Financing Receivable - Current | 333,782 | 267,581 |
Commercial Real Estate Investor Income Producing [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 655 | |
Financing Receivable - Past Due 90 Days or More | 571 | 3,161 |
Financing Receivable - Nonaccrual | 426,210 | 321,375 |
Financing Receivable - Current | 470,647 | 382,187 |
AC&D - 1 - 4 Family Construction [Member] | ||
Commercial: | ||
Financing Receivable - Nonaccrual | 28,887 | 19,959 |
Financing Receivable - Current | 29,401 | 19,959 |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 48 | |
Financing Receivable - Past Due 90 Days or More | 292 | |
Financing Receivable - Nonaccrual | 41,783 | 42,550 |
Financing Receivable - Current | 55,443 | 65,589 |
AC&D - CRE [Member] | ||
Commercial: | ||
Financing Receivable - Nonaccrual | 71,478 | 56,638 |
Financing Receivable - Current | 71,590 | 56,759 |
Other Commercial [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 40 | |
Financing Receivable - 60-89 Days Past Due | 143 | 112 |
Financing Receivable - Nonaccrual | 3,675 | 3,600 |
Financing Receivable - Current | 5,045 | 3,849 |
Total Commercial [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 163 | 1,217 |
Financing Receivable - 60-89 Days Past Due | 161 | 164 |
Financing Receivable - Past Due 90 Days or More | 2,260 | 3,811 |
Financing Receivable - Nonaccrual | 1,041,665 | 791,682 |
Financing Receivable - Current | 1,139,694 | 918,324 |
Residential Mortgage Loans [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 57 | |
Financing Receivable - 60-89 Days Past Due | 68 | 32 |
Financing Receivable - Past Due 90 Days or More | 1,058 | 1,340 |
Financing Receivable - Nonaccrual | 175,237 | 139,178 |
Financing Receivable - Current | 205,150 | 173,376 |
Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 343 | 248 |
Financing Receivable - 60-89 Days Past Due | 60 | 160 |
Financing Receivable - Past Due 90 Days or More | 228 | 698 |
Financing Receivable - Nonaccrual | 152,932 | 141,246 |
Financing Receivable - Current | 155,297 | 143,754 |
Residential Construction [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 157 | 25 |
Financing Receivable - Past Due 90 Days or More | 341 | 66 |
Financing Receivable - Nonaccrual | 48,810 | 33,810 |
Financing Receivable - Current | 55,882 | 40,821 |
Other Loans to Individuals [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 29 | 14 |
Financing Receivable - 60-89 Days Past Due | 1 | 11 |
Financing Receivable - Past Due 90 Days or More | 41 | |
Financing Receivable - Nonaccrual | 21,757 | 17,581 |
Financing Receivable - Current | 22,586 | 18,795 |
Total Consumer Loans [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 586 | 287 |
Financing Receivable - 60-89 Days Past Due | 129 | 203 |
Financing Receivable - Past Due 90 Days or More | 1,668 | 2,104 |
Financing Receivable - Nonaccrual | 398,736 | 331,815 |
Financing Receivable - Current | 438,915 | 376,746 |
Total [Member] | ||
Commercial: | ||
Financing Receivable - 30-59 Days Past Due | 749 | 1,504 |
Financing Receivable - 60-89 Days Past Due | 290 | 367 |
Financing Receivable - Past Due 90 Days or More | 3,928 | 5,915 |
Financing Receivable - PCI Loans | 1,578,609 | 1,295,070 |
Financing Receivable - Nonaccrual | 1,440,401 | 1,123,497 |
Financing Receivable - Current | $1,578,609 | $1,295,070 |
Note_5_Loans_and_Allowance_for9
Note 5 - Loans and Allowance for Loan Losses (Details) - Impaired Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | $1,054 | $9,708 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 1,421 | 13,999 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 10,163 | 5,478 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 10,970 | 6,081 |
Impaired Loans with an Allowance Recorded Related Allowance | 685 | 884 |
Commercial: | ||
Impaired Loans Recorded Investment | 11,217 | 15,186 |
Impaired Loans Unpaid Principal Balance | 12,391 | 20,080 |
Impaired Loans Related Allowance | 685 | 884 |
Commercial and Industrial [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 47 | 183 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 126 | 473 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 329 | 82 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 348 | 90 |
Impaired Loans with an Allowance Recorded Related Allowance | 44 | 14 |
Commercial: | ||
Impaired Loans Recorded Investment | 376 | 265 |
Impaired Loans Unpaid Principal Balance | 474 | 563 |
Impaired Loans Related Allowance | 44 | 14 |
Commercial Real Estate Owner Occupied [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 1,815 | |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 1,955 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 2,889 | 87 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 2,982 | 88 |
Impaired Loans with an Allowance Recorded Related Allowance | 18 | 14 |
Commercial: | ||
Impaired Loans Recorded Investment | 2,889 | 1,902 |
Impaired Loans Unpaid Principal Balance | 2,982 | 2,043 |
Impaired Loans Related Allowance | 18 | 14 |
Commercial Real Estate Investor Income Producing [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 30 | |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 47 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 1,271 | 3,186 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 1,357 | 3,673 |
Impaired Loans with an Allowance Recorded Related Allowance | 57 | 527 |
Commercial: | ||
Impaired Loans Recorded Investment | 1,271 | 3,216 |
Impaired Loans Unpaid Principal Balance | 1,357 | 3,720 |
Impaired Loans Related Allowance | 57 | 527 |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 1,888 | |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 4,475 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 1,073 | |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 1,187 | |
Impaired Loans with an Allowance Recorded Related Allowance | 11 | |
Commercial: | ||
Impaired Loans Recorded Investment | 1,073 | 1,888 |
Impaired Loans Unpaid Principal Balance | 1,187 | 4,475 |
Impaired Loans Related Allowance | 11 | |
Other Commercial [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 150 | |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 167 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 143 | 112 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 159 | 112 |
Impaired Loans with an Allowance Recorded Related Allowance | 19 | 18 |
Commercial: | ||
Impaired Loans Recorded Investment | 143 | 262 |
Impaired Loans Unpaid Principal Balance | 159 | 279 |
Impaired Loans Related Allowance | 19 | 18 |
Total Commercial [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 47 | 4,066 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 126 | 7,117 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 5,705 | 3,467 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 6,033 | 3,963 |
Impaired Loans with an Allowance Recorded Related Allowance | 149 | 573 |
Commercial: | ||
Impaired Loans Recorded Investment | 5,752 | 7,533 |
Impaired Loans Unpaid Principal Balance | 6,159 | 11,080 |
Impaired Loans Related Allowance | 149 | 573 |
Residential Mortgage Loans [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 322 | 3,080 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 420 | 3,926 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 2,203 | 1,433 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 2,241 | 1,485 |
Impaired Loans with an Allowance Recorded Related Allowance | 138 | 167 |
Commercial: | ||
Impaired Loans Recorded Investment | 2,525 | 4,513 |
Impaired Loans Unpaid Principal Balance | 2,661 | 5,411 |
Impaired Loans Related Allowance | 138 | 167 |
Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 363 | 2,478 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 499 | 2,855 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 2,118 | 536 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 2,534 | 587 |
Impaired Loans with an Allowance Recorded Related Allowance | 382 | 137 |
Commercial: | ||
Impaired Loans Recorded Investment | 2,481 | 3,014 |
Impaired Loans Unpaid Principal Balance | 3,033 | 3,442 |
Impaired Loans Related Allowance | 382 | 137 |
Residential Construction [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 322 | 26 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 376 | 39 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 47 | 40 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 72 | 42 |
Impaired Loans with an Allowance Recorded Related Allowance | 4 | 7 |
Commercial: | ||
Impaired Loans Recorded Investment | 369 | 66 |
Impaired Loans Unpaid Principal Balance | 448 | 81 |
Impaired Loans Related Allowance | 4 | 7 |
Other Loans to Individuals [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 58 | |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 62 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 90 | 2 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 90 | 4 |
Impaired Loans with an Allowance Recorded Related Allowance | 12 | |
Commercial: | ||
Impaired Loans Recorded Investment | 90 | 60 |
Impaired Loans Unpaid Principal Balance | 90 | 66 |
Impaired Loans Related Allowance | 12 | |
Total Consumer Loans [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Recorded Investment | 1,007 | 5,642 |
Impaired Loans with No Related Allowance Recorded Unpaid Principal Balance | 1,295 | 6,882 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Recorded Investment | 4,458 | 2,011 |
Impaired Loans with an Allowance Recorded Unpaid Principal Balance | 4,937 | 2,118 |
Impaired Loans with an Allowance Recorded Related Allowance | 536 | 311 |
Commercial: | ||
Impaired Loans Recorded Investment | 5,465 | 7,653 |
Impaired Loans Unpaid Principal Balance | 6,232 | 9,000 |
Impaired Loans Related Allowance | $536 | $311 |
Recovered_Sheet1
Note 5 - Loans and Allowance for Loan Losses (Details) - Average Recorded Investment and Interest Income Recognized on Impaired Loans (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | $7,368 | $10,785 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 250 | 403 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 6,140 | 5,662 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 129 | 50 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 13,508 | 16,447 |
Impaired Loans Interest Income Recognized | 379 | 453 |
Commercial and Industrial [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 382 | 276 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 19 | 5 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 224 | 487 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 2 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | 606 | 763 |
Impaired Loans Interest Income Recognized | 19 | 7 |
CRE - Owner Occupied [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 2,090 | 2,108 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 54 | 106 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 695 | 47 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 20 | 12 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 2,785 | 2,155 |
Impaired Loans Interest Income Recognized | 74 | 118 |
CRE-Investor Income Producing [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 620 | 980 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 24 | |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 1,052 | 2,829 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 9 | 2 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 1,672 | 3,809 |
Impaired Loans Interest Income Recognized | 33 | 2 |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 1,034 | 2,978 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 98 | 202 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 243 | 50 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 16 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | 1,277 | 3,028 |
Impaired Loans Interest Income Recognized | 114 | 202 |
Other Commercial [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 60 | 158 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 4 | 9 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 176 | 22 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 8 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | 236 | 180 |
Impaired Loans Interest Income Recognized | 12 | 9 |
Commercial Portfolio Segment [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 4,186 | 6,500 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 199 | 322 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 2,409 | 3,435 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 53 | 16 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 6,595 | 9,935 |
Impaired Loans Interest Income Recognized | 252 | 338 |
Residential Mortgage Loans [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 1,689 | 2,688 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 31 | 57 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 1,825 | 1,282 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 42 | 33 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 3,514 | 3,970 |
Impaired Loans Interest Income Recognized | 73 | 90 |
Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 1,390 | 1,513 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 19 | 20 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 1,597 | 920 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 29 | 1 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 2,987 | 2,433 |
Impaired Loans Interest Income Recognized | 48 | 21 |
Residential Construction [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 80 | 20 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 267 | 24 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 1 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | 347 | 44 |
Impaired Loans Interest Income Recognized | 1 | |
Other Loans to Individuals [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 23 | 64 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 1 | 4 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 42 | 1 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 4 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | 65 | 65 |
Impaired Loans Interest Income Recognized | 5 | 4 |
Consumer Portfolio Segment [Member] | ||
Commercial: | ||
Impaired Loans with No Related Allowance Recorded Average Recorded Investment | 3,182 | 4,285 |
Impaired Loans with No Related Allowance Recorded Interest Income Recognized | 51 | 81 |
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 3,731 | 2,227 |
Impaired Loans with an Allowance Recorded Interest Income Recognized | 76 | 34 |
Commercial: | ||
Impaired Loans Average Recorded Investment | 6,913 | 6,512 |
Impaired Loans Interest Income Recognized | 127 | 115 |
AC&D - 1 - 4 Family Construction [Member] | ||
Commercial: | ||
Impaired Loans with an Allowance Recorded Average Recorded Investment | 19 | |
Commercial: | ||
Impaired Loans Average Recorded Investment | $19 |
Recovered_Sheet2
Note 5 - Loans and Allowance for Loan Losses (Details) - Nonaccrual and Past Due Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial: | ||
Nonaccrual loans | $5,585 | $8,428 |
Commercial and Industrial [Member] | ||
Commercial: | ||
Nonaccrual loans | 329 | 200 |
Commercial Real Estate Owner Occupied [Member] | ||
Commercial: | ||
Nonaccrual loans | 1,616 | 209 |
Commercial Real Estate Investor Income Producing [Member] | ||
Commercial: | ||
Nonaccrual loans | 680 | 3,192 |
AC&D - Lots, Land, & Development [Member] | ||
Commercial: | ||
Nonaccrual loans | 7 | 292 |
Other Commercial [Member] | ||
Commercial: | ||
Nonaccrual loans | 112 | |
Total Commercial [Member] | ||
Commercial: | ||
Nonaccrual loans | 2,632 | 4,005 |
Residential Mortgage Loans [Member] | ||
Commercial: | ||
Nonaccrual loans | 1,549 | 2,007 |
Home Equity Lines of Credit [Member] | ||
Commercial: | ||
Nonaccrual loans | 1,022 | 2,348 |
Residential Construction [Member] | ||
Commercial: | ||
Nonaccrual loans | 341 | 66 |
Other Loans to Individuals [Member] | ||
Commercial: | ||
Nonaccrual loans | 41 | 2 |
Total Consumer Loans [Member] | ||
Commercial: | ||
Nonaccrual loans | $2,953 | $4,423 |
Recovered_Sheet3
Note 5 - Loans and Allowance for Loan Losses (Details) - Fair Value of PCI Loan Portfolio Acquired from Provident Community (USD $) | 1-May-14 | Oct. 01, 2012 |
In Thousands, unless otherwise specified | ||
Provident Community Bancshares, Inc. [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Fair Value of PCI Loan Portfolio Acquired from Provident Community [Line Items] | ||
Contractual principal and interest at acquisition | $46,177 | |
Nonaccretable difference | -10,153 | |
Expected cash flows at acquisition | 36,024 | |
Accretable yield | -5,589 | |
Basis in PCI loans at acquisition - estimated fair value | 30,435 | |
Citizens South Banking Corporation [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Fair Value of PCI Loan Portfolio Acquired from Provident Community [Line Items] | ||
Contractual principal and interest at acquisition | 294,283 | |
Nonaccretable difference | -47,941 | |
Expected cash flows at acquisition | 246,342 | |
Accretable yield | -37,724 | |
Basis in PCI loans at acquisition - estimated fair value | $208,618 |
Recovered_Sheet4
Note 5 - Loans and Allowance for Loan Losses (Details) - Changes in the Accretable Yield for PCI Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 5 - Loans and Allowance for Loan Losses (Details) - Changes in the Accretable Yield for PCI Loans [Line Items] | |||
Accretable yield, beginning of year | $39,249 | $42,734 | $14,264 |
Interest income | -15,766 | -14,903 | -7,462 |
Reclassification of nonaccretable difference due to improvement in expected cash flows | 9,886 | 12,143 | 479 |
Other changes, net | 1,582 | -725 | -2,271 |
Accretable yield, end of year | 40,540 | 39,249 | 42,734 |
Citizens South Banking Corporation [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) - Changes in the Accretable Yield for PCI Loans [Line Items] | |||
Addition from acquisition | 37,724 | ||
Provident Community Bancshares, Inc. [Member] | |||
Note 5 - Loans and Allowance for Loan Losses (Details) - Changes in the Accretable Yield for PCI Loans [Line Items] | |||
Addition from acquisition | $5,589 |
Recovered_Sheet5
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Below market interest rate: | ||
Number of Loans | 5 | 3 |
Pre-Modification Outstanding Recorded Investment | $1,168 | $2,255 |
Post-Modification Outstanding Recorded Investment | 1,168 | 2,255 |
Below Market Interest Rate [Member] | AC&D - Lots, Land, & Development [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 184 | |
Post-Modification Outstanding Recorded Investment | 184 | |
Below Market Interest Rate [Member] | Residential Mortgage Loans [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 43 | |
Post-Modification Outstanding Recorded Investment | 43 | |
Below Market Interest Rate [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 184 | 43 |
Post-Modification Outstanding Recorded Investment | 184 | 43 |
Extended Payment Terms [Member] | AC&D - Lots, Land, & Development [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 962 | |
Post-Modification Outstanding Recorded Investment | 962 | |
Extended Payment Terms [Member] | Residential Mortgage Loans [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 657 | |
Post-Modification Outstanding Recorded Investment | 657 | |
Extended Payment Terms [Member] | Commercial and Industrial [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 10 | |
Post-Modification Outstanding Recorded Investment | 10 | |
Extended Payment Terms [Member] | Other Commercial [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | |
Pre-Modification Outstanding Recorded Investment | 143 | |
Post-Modification Outstanding Recorded Investment | 143 | |
Extended Payment Terms [Member] | Home Equity Lines of Credit [Member] | ||
Below market interest rate: | ||
Number of Loans | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 174 | 1,250 |
Post-Modification Outstanding Recorded Investment | 174 | 1,250 |
Extended Payment Terms [Member] | ||
Below market interest rate: | ||
Number of Loans | 4 | 2 |
Pre-Modification Outstanding Recorded Investment | 984 | 2,212 |
Post-Modification Outstanding Recorded Investment | $984 | $2,212 |
Recovered_Sheet6
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default [Line Items] | ||
Number of loans | 1 | 1 |
Recorded investment | $173 | $3,610 |
Below Market Interest Rate [Member] | CRE-Investor Income Producing [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default [Line Items] | ||
Number of loans | 1 | |
Recorded investment | 3,610 | |
Below Market Interest Rate [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default [Line Items] | ||
Number of loans | 1 | |
Recorded investment | 3,610 | |
Extended Payment Terms [Member] | Residential Construction [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default [Line Items] | ||
Number of loans | 1 | |
Recorded investment | 173 | |
Extended Payment Terms [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - TDRs With Subsequent Payment Default [Line Items] | ||
Number of loans | 1 | |
Recorded investment | $173 |
Recovered_Sheet7
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 5 | 3 |
Troubled Debt Restructurings - Recorded Investment | $4,100 | $8,200 |
Paid in Full [Member] | Below Market Interest Rate [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 2 | |
Troubled Debt Restructurings - Recorded Investment | 164 | |
Paid in Full [Member] | Extended Payment Terms [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 2 | |
Troubled Debt Restructurings - Recorded Investment | 438 | |
Paid in Full [Member] | Total [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 4 | |
Troubled Debt Restructurings - Recorded Investment | 602 | |
Paying as Restructured [Member] | Below Market Interest Rate [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 1 | 4 |
Troubled Debt Restructurings - Recorded Investment | 222 | 2,108 |
Paying as Restructured [Member] | Extended Payment Terms [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 3 | 6 |
Troubled Debt Restructurings - Recorded Investment | 970 | 2,993 |
Paying as Restructured [Member] | Total [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 4 | 10 |
Troubled Debt Restructurings - Recorded Investment | 1,192 | 5,101 |
Nonaccrual [Member] | Below Market Interest Rate [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 1 | |
Troubled Debt Restructurings - Recorded Investment | 3,116 | |
Nonaccrual [Member] | Extended Payment Terms [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 2 | |
Troubled Debt Restructurings - Recorded Investment | 338 | |
Nonaccrual [Member] | Total [Member] | ||
Note 5 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings Outcomes [Line Items] | ||
Troubled Debt Restructurings - Number of loans | 2 | 1 |
Troubled Debt Restructurings - Recorded Investment | $338 | $3,116 |
Recovered_Sheet8
Note 5 - Loans and Allowance for Loan Losses (Details) - Related Party Loans (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Related Party Loans [Abstract] | ||
Balance, beginning of year | $17,247 | $4,184 |
Disbursements | 2,369 | 16,037 |
Repayments | -5,576 | -2,974 |
Balance, end of year | $14,040 | $17,247 |
Note_6_FDIC_Loss_Share_Agreeme2
Note 6 - FDIC Loss Share Agreements (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 42,339,000 | $71,134,000 | |
Other Real Estate, Covered | 3,011,000 | 5,088,000 | 6,646,000 |
FDIC Indemnification Asset | 3,964,000 | 10,025,000 | 18,697,000 |
FDIC Indemnification Asset True Up Amount | 5,400,000 | 5,000,000 | |
Residential Portfolio Segment [Member] | Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 10 years | ||
Losses on All Other Loans [Member] | Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 5 years | ||
Recoveries on All Other Loans [Member] | Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 8 years | ||
Residential Loans and OREO [Member] | New Horizons Bank Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 10 years | ||
All Remaining Covered Assets [Member] | New Horizons Bank Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 5 years | ||
Loan Losses Up to 102 Million [Member] | Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
FDIC Loss Share Agreement Coverage | 80.00% | ||
Loan Losses Exceeding 102 Million [Member] | Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
FDIC Loss Share Agreement Coverage | 95.00% | ||
Citizens South Banking Corporation [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 42,300,000 | 71,100,000 | |
Other Real Estate, Covered | 3,000,000 | 5,100,000 | |
FDIC Indemnification Asset | 3,000,000 | 6,600,000 | |
Bank of Hiawassee Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Number of Loss Share Agreements | 2 | ||
Maximum Amount Covered By FDIC | 102,000,000 | ||
New Horizons Bank Acquired Through Citizens South [Member] | Covered Assets [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
FDIC Loss Share Agreement Coverage | 80.00% | ||
FDIC Loss Share Agreement Coverage Bank Obligation | 80.00% | ||
New Horizons Bank Acquired Through Citizens South [Member] | Residential Properties [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 10 years | ||
New Horizons Bank Acquired Through Citizens South [Member] | All Other Covered Assets [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Share Term | 8 years | ||
New Horizons Bank Acquired Through Citizens South [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Number of Loss Share Agreements | 2 | ||
FDIC Indemnification Asset | 1,000,000 | 3,400,000 | |
Covered Assets [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) [Line Items] | |||
Loss Contingency, Estimate of Possible Loss | 3,800,000 | $11,500,000 |
Note_6_FDIC_Loss_Share_Agreeme3
Note 6 - FDIC Loss Share Agreements (Details) - Receivable from the FDIC (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 6 - FDIC Loss Share Agreements (Details) - Receivable from the FDIC [Line Items] | |||
Balance, beginning of period | $10,025 | $18,697 | |
Reimbursable expenses (income) | 974 | -394 | |
Amortization discounts and premiums, net | -3,203 | -189 | |
Reimbursements from the FDIC | -3,651 | -9,720 | -3,698 |
Other changes, net | 313 | ||
Balance, end of period | 3,964 | 10,025 | 18,697 |
Estimated Loss on Loans [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) - Receivable from the FDIC [Line Items] | |||
Additional Estimated Loss | -278 | 501 | |
Estimated Loss on OREO [Member] | |||
Note 6 - FDIC Loss Share Agreements (Details) - Receivable from the FDIC [Line Items] | |||
Additional Estimated Loss | $96 | $817 |
Note_7_Other_Real_Estate_Owned2
Note 7 - Other Real Estate Owned (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block [Abstract] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $12,000,000 | $14,500,000 | |
Other Real Estate, Covered | $3,011,000 | $5,088,000 | $6,646,000 |
Note_7_Other_Real_Estate_Owned3
Note 7 - Other Real Estate Owned (Details) - Transactions in OREO - Non-Covered (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Transactions in OREO - Non-Covered [Abstract] | ||
Beginning balance | $9,404 | $18,427 |
Additions | 2,821 | 3,945 |
Acquired through merger | 2,964 | |
Sales | -5,774 | -12,324 |
Writedowns | -436 | -644 |
Ending balance | $8,979 | $9,404 |
Note_7_Other_Real_Estate_Owned4
Note 7 - Other Real Estate Owned (Details) - Transactions in OREO - Covered (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Transactions in OREO - Covered [Abstract] | ||
Beginning balance | $5,088 | $6,646 |
Additions | 5,985 | 6,262 |
Sales | -7,894 | -7,070 |
Writedowns | -168 | -750 |
Ending balance | $3,011 | $5,088 |
Note_8_Premises_and_Equipment_1
Note 8 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $3.90 | $3.40 | $1.80 |
Note_8_Premises_and_Equipment_2
Note 8 - Premises and Equipment (Details) - Premises and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $65,830 | $61,425 |
Accumulated depreciation | -6,583 | -5,502 |
Premises and equipment, net | 59,247 | 55,923 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 37,098 | 34,871 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 17,154 | 16,431 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 9,315 | 8,677 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,448 | 1,057 |
Asset under Construction [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $815 | $389 |
Note_9_Goodwill_and_Intangible2
Note 9 - Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Finite-Lived Intangible Assets, Net | $10,960 | $8,600 | |
Amortization of Intangible Assets | $1,269 | $1,029 | $564 |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Note_9_Goodwill_and_Intangible3
Note 9 - Goodwill and Intangible Assets (Details) - Estimated Amortization Expense (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Estimated Amortization Expense [Abstract] | ||
2015 | $1,389 | |
2016 | 1,389 | |
2017 | 1,389 | |
2018 | 1,389 | |
2019 | 1,389 | |
2020 and thereafter | 4,015 | |
$10,960 | $8,600 |
Note_9_Goodwill_and_Intangible4
Note 9 - Goodwill and Intangible Assets (Details) - Goodwill (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 1-May-14 |
Goodwill [Line Items] | ||||
Goodwill balance | $26,457 | $23,151 | ||
Additions | 2,783 | |||
Adjustments | 3,306 | |||
Goodwill balance | 29,240 | 26,457 | ||
Community Capital Corporation [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill balance | 622 | |||
Goodwill balance | 622 | 622 | 622 | |
Citizens South Banking Corporation [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill balance | 22,529 | |||
Adjustments | 3,306 | |||
Goodwill balance | 25,835 | 25,835 | ||
Provident Community Bancshares, Inc. [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill balance | 3,400 | |||
Additions | 2,783 | |||
Goodwill balance | $2,783 | $3,400 |
Note_10_Deposits_Details
Note 10 - Deposits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block [Abstract] | |||
Time Deposits, $100,000 or More | $198.10 | $284.70 | |
Time Deposits, $250,000 or More | 50.9 | 37.7 | |
Interest Expense, Time Deposits, $100,000 or More | $3.10 | $2.50 | $3 |
Note_10_Deposits_Details_Depos
Note 10 - Deposits (Details) - Deposits (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ||
Noninterest bearing demand deposits | $321,019 | $255,861 |
Interest-bearing demand deposits | 405,012 | 296,995 |
Money market deposits | 435,922 | 390,059 |
Savings | 83,820 | 48,701 |
Brokered deposits | 141,771 | 166,280 |
Certificates of deposit and other time deposits | 463,810 | 441,989 |
Total deposits | $1,851,354 | $1,599,885 |
Note_10_Deposits_Details_Sched
Note 10 - Deposits (Details) - Scheduled Maturities of Time Deposits (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Scheduled Maturities of Time Deposits [Abstract] | |
2015 | $325,184 |
2016 | 160,359 |
2017 | 28,067 |
2018 | 24,748 |
2019 and greater | 3,023 |
Total time deposits | $541,381 |
Note_11_Borrowings_Details
Note 11 b Borrowings (Details) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | |||
Jun. 30, 2014 | Sep. 30, 2009 | Jan. 21, 2015 | Jan. 13, 2015 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 11 b Borrowings (Details) [Line Items] | |||||||
Short-term Debt | 125,000,000 | $35,996,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 11.00% | ||||||
Line of Credit Facility, Remaining Borrowing Capacity | 3,200,000 | ||||||
Percent of Total Assets for FHLB Borrowings | 20.00% | ||||||
Loans Pledged as Collateral | 560,400,000 | ||||||
Proceeds from Issuance of Subordinated Long-term Debt | 6,900,000 | ||||||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||||||
Trust Preferred Securities | 38,100,000 | 25,800,000 | |||||
Trust Preferred Securities Net of Mark-to-Market | 23,600,000 | 15,200,000 | |||||
Long-term Borrowings [Member] | Subsequent Event [Member] | FHLB Fixed Rate Credit [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.20% | ||||||
Subsequent Event [Member] | FHLB Fixed Rate Credit [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Extinguishment of Debt, Amount | 65,000,000 | 60,000,000 | |||||
Short-term Debt | 165,000,000 | ||||||
Trust Preferred Securities [Member] | London Interbank Offered Rate (LIBOR) [Member] | Community Capital Corporation Statutory Trust I [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | ||||||
Trust Preferred Securities [Member] | London Interbank Offered Rate (LIBOR) [Member] | CSBC Statutory Trust I [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.57% | ||||||
Trust Preferred Securities [Member] | London Interbank Offered Rate (LIBOR) [Member] | Provident Community [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 1.74% | ||||||
Community Capital Corporation Statutory Trust I [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Trust Preferred Securities | 10,300,000 | ||||||
Trust Preferred Securities Net of Mark-to-Market | 6,100,000 | ||||||
CSBC Statutory Trust I [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Trust Preferred Securities | 15,500,000 | ||||||
Trust Preferred Securities Net of Mark-to-Market | 9,400,000 | ||||||
Provident Community Bancshares Capital Trust I [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Trust Preferred Securities | 4,100,000 | ||||||
Trust Preferred Securities Net of Mark-to-Market | 2,600,000 | ||||||
Provident Community Bancshares Capital Trust II [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Trust Preferred Securities | 8,200,000 | ||||||
Trust Preferred Securities Net of Mark-to-Market | 5,300,000 | ||||||
Federal Home Loan Bank [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | 196,800,000 | ||||||
Federal Reserve Discount Window [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | 183,600,000 | ||||||
Correspondent Banks [Member] | |||||||
Note 11 b Borrowings (Details) [Line Items] | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | 70,000,000 |
Note_11_Borrowings_Details_Bor
Note 11 b Borrowings (Details) - Borrowings Outstanding (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Short-term borrowings: | ||
Interest rate | 11.00% | |
Short-term borrowings | $125,000 | $35,996 |
Long-term borrowings: | ||
Interest rate | 11.00% | |
Total borrowings | 203,583 | 78,048 |
Short-term Borrowings [Member] | Repurchase Agreements 1 [Member] | ||
Short-term borrowings: | ||
Interest rate | 0.00% | |
Short-term borrowings | 996 | |
Long-term borrowings: | ||
Interest rate | 0.00% | |
Short-term Borrowings [Member] | FHLB Fixed Rate Credit due January 13, 2015 [Member] | ||
Short-term borrowings: | ||
Maturity date | 13-Jan-15 | |
Interest rate | 0.21% | |
Short-term borrowings | 60,000 | |
Long-term borrowings: | ||
Maturity date | 13-Jan-15 | |
Interest rate | 0.21% | |
Short-term Borrowings [Member] | FHLB Fixed Rate Credit due January 21, 2015 [Member] | ||
Short-term borrowings: | ||
Maturity date | 21-Jan-15 | |
Interest rate | 0.24% | |
Short-term borrowings | 65,000 | |
Long-term borrowings: | ||
Maturity date | 21-Jan-15 | |
Interest rate | 0.24% | |
Short-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 6, 2014 1 [Member] | ||
Short-term borrowings: | ||
Maturity date | 6-Jan-14 | |
Interest rate | 0.35% | |
Short-term borrowings | 10,000 | |
Long-term borrowings: | ||
Maturity date | 6-Jan-14 | |
Interest rate | 0.35% | |
Short-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 6, 2014 2 [Member] | ||
Short-term borrowings: | ||
Maturity date | 6-Jan-14 | |
Interest rate | 0.35% | |
Short-term borrowings | 10,000 | |
Long-term borrowings: | ||
Maturity date | 6-Jan-14 | |
Interest rate | 0.35% | |
Short-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 21, 2014 [Member] | ||
Short-term borrowings: | ||
Maturity date | 21-Jan-14 | |
Interest rate | 0.29% | |
Short-term borrowings | 15,000 | |
Long-term borrowings: | ||
Maturity date | 21-Jan-14 | |
Interest rate | 0.29% | |
Short-term Borrowings [Member] | ||
Short-term borrowings: | ||
Short-term borrowings | 125,000 | 35,996 |
Weighted average interest rate | 0.23% | 0.40% |
Long-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 7, 2016 1 [Member] | ||
Short-term borrowings: | ||
Maturity date | 7-Jan-16 | |
Interest rate | 0.26% | |
Long-term borrowings: | ||
Maturity date | 7-Jan-16 | |
Interest rate | 0.26% | |
Long-term borrowings | 10,000 | |
Long-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 7, 2016 2 [Member] | ||
Short-term borrowings: | ||
Maturity date | 7-Jan-16 | |
Interest rate | 0.26% | |
Long-term borrowings: | ||
Maturity date | 7-Jan-16 | |
Interest rate | 0.26% | |
Long-term borrowings | 10,000 | |
Long-term Borrowings [Member] | FHLB Fixed Rate Hybrid due September 26, 2016 1 [Member] | ||
Short-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 1.91% | |
Long-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 1.91% | |
Long-term borrowings | 5,000 | 5,000 |
Long-term Borrowings [Member] | FHLB Fixed Rate Hybrid due September 26, 2016 2 [Member] | ||
Short-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.07% | |
Long-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.07% | |
Long-term borrowings | 5,000 | 5,000 |
Long-term Borrowings [Member] | FHLB Fixed Rate Hybrid due September 26, 2016 3 [Member] | ||
Short-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.26% | |
Long-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.26% | |
Long-term borrowings | 5,000 | 5,000 |
Long-term Borrowings [Member] | FHLB Fixed Rate Hybrid due September 26, 2016 4 [Member] | ||
Short-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.03% | |
Long-term borrowings: | ||
Maturity date | 26-Sep-16 | |
Interest rate | 2.03% | |
Long-term borrowings | 5,000 | 5,000 |
Long-term Borrowings [Member] | FHLB Adjustable Rate Credit due January 21, 2016 [Member] | ||
Short-term borrowings: | ||
Maturity date | 21-Jan-16 | |
Interest rate | 0.27% | |
Long-term borrowings: | ||
Maturity date | 21-Jan-16 | |
Interest rate | 0.27% | |
Long-term borrowings | 15,000 | |
Long-term Borrowings [Member] | Federal Home Loan Bank [Member] | ||
Long-term borrowings: | ||
Long-term borrowings | 55,000 | 20,000 |
Weighted average interest rate | 0.92% | 2.06% |
Long-term Borrowings [Member] | Subordinated Debt 1[Member] | ||
Short-term borrowings: | ||
Maturity date | 30-Jun-19 | |
Interest rate | 11.00% | |
Long-term borrowings: | ||
Maturity date | 30-Jun-19 | |
Interest rate | 11.00% | |
Long-term borrowings | 6,895 | |
Long-term Borrowings [Member] | Junior Subordinated Debt 1 [Member] | ||
Short-term borrowings: | ||
Maturity date | 15-Jun-36 | |
Interest rate | 1.79% | |
Long-term borrowings: | ||
Maturity date | 15-Jun-36 | |
Interest rate | 1.79% | |
Long-term borrowings | 6,179 | 5,986 |
Long-term Borrowings [Member] | Junior Subordinated Debt 2 [Member] | ||
Short-term borrowings: | ||
Maturity date | 15-Dec-35 | |
Interest rate | 1.81% | |
Long-term borrowings: | ||
Maturity date | 15-Dec-35 | |
Interest rate | 1.81% | |
Long-term borrowings | 9,456 | 9,171 |
Long-term Borrowings [Member] | Junior Subordinated Debt 3 [Member] | ||
Short-term borrowings: | ||
Maturity date | 1-Oct-36 | |
Interest rate | 1.98% | |
Long-term borrowings: | ||
Maturity date | 1-Oct-36 | |
Interest rate | 1.98% | |
Long-term borrowings | 2,658 | |
Long-term Borrowings [Member] | Junior Subordinated Debt 4 [Member] | ||
Short-term borrowings: | ||
Maturity date | 1-Mar-37 | |
Interest rate | 1.98% | |
Long-term borrowings: | ||
Maturity date | 1-Mar-37 | |
Interest rate | 1.98% | |
Long-term borrowings | 5,290 | |
Long-term Borrowings [Member] | ||
Long-term borrowings: | ||
Long-term borrowings | $78,583 | $42,052 |
Weighted average interest rate | 1.20% | 3.44% |
Note_12_Income_Taxes_Details
Note 12 - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 12 - Income Taxes (Details) [Line Items] | |||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||||||||||
Deferred Tax Assets, Net | $35,623,000 | $36,318,000 | $35,623,000 | $36,318,000 | |||||||
Net Income (Loss) Attributable to Parent | 3,456,000 | 2,452,000 | 3,426,000 | 3,555,000 | 4,039,000 | 4,214,000 | 3,510,000 | 3,189,000 | 12,889,000 | 15,305,000 | 4,343,000 |
Domestic Tax Authority [Member] | |||||||||||
Note 12 - Income Taxes (Details) [Line Items] | |||||||||||
Operating Loss Carryforwards | 28,500,000 | 28,000,000 | 28,500,000 | 28,000,000 | |||||||
State and Local Jurisdiction [Member] | |||||||||||
Note 12 - Income Taxes (Details) [Line Items] | |||||||||||
Operating Loss Carryforwards | $41,600,000 | $46,000,000 | $41,600,000 | $46,000,000 |
Note_12_Income_Taxes_Details_P
Note 12 - Income Taxes (Details) - Provision for Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current tax provision: | |||||||||||
Federal | $655 | ($1,248) | |||||||||
State | 195 | 147 | 51 | ||||||||
Total current tax provision | 850 | -1,101 | 51 | ||||||||
Deferred tax provision: | |||||||||||
Federal | 4,646 | 7,468 | 1,859 | ||||||||
State | 562 | 992 | 396 | ||||||||
Total deferred tax provision | 5,208 | 8,460 | 2,255 | ||||||||
Net provision for income taxes | $1,564 | $1,254 | $1,760 | $1,480 | $1,561 | $2,106 | $1,968 | $1,724 | $6,058 | $7,359 | $2,306 |
Note_12_Income_Taxes_Details_I
Note 12 - Income Taxes (Details) - Income Tax Expense Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Expense Reconciliation [Abstract] | |||||||||||
Tax at the statutory federal rate | $6,631 | $7,706 | $2,261 | ||||||||
Increase (decrease) resulting from: | |||||||||||
State income taxes, net of federal tax effect | 493 | 751 | 295 | ||||||||
Nondeductible merger expenses | 72 | 6 | 318 | ||||||||
Tax exempt income | -1,299 | -1,008 | -722 | ||||||||
Other permanent differences | 161 | -96 | 154 | ||||||||
Provision for income taxes | $1,564 | $1,254 | $1,760 | $1,480 | $1,561 | $2,106 | $1,968 | $1,724 | $6,058 | $7,359 | $2,306 |
Note_12_Income_Taxes_Details_D
Note 12 - Income Taxes (Details) - Deferred Income Taxes (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets relating to: | ||
Allowance for loan losses | $2,990 | $3,089 |
Net unrealized losses on securities | 3,034 | |
Unrealized loss on transferred securities | 766 | |
Net unrealized losses on cash flow hedges | 909 | |
Other deferred tax assets | 2,934 | 1,088 |
Total deferred tax assets | 46,280 | 45,438 |
Deferred compensation | 3,730 | 3,560 |
AMT credit carry forward | 1,728 | 1,397 |
Net operating loss carry forwards | 11,539 | 12,032 |
Nonaccrual interest | 1,258 | |
FDIC acquisitions | 3,261 | |
Accrued incentive compensation | 795 | 706 |
Stock option expense | 2,754 | 2,524 |
Deferred tax liabilities relating to: | ||
Core deposit intangible | -4,086 | -3,206 |
Net unrealized gains on securities | -786 | |
Net unrealized gains on cash flow hedges | -202 | |
Property and equipment | -2,644 | -3,381 |
FDIC acquisitions | -437 | |
Deferred loan costs | -2,127 | -1,131 |
Prepaid expenses | -446 | -442 |
Other | -568 | -321 |
Total deferred tax liabilities | -10,657 | -9,120 |
Net recorded deferred tax asset | 35,623 | 36,318 |
Fair Market Value Adjustments Related to the Merger [Member] | ||
Deferred tax assets relating to: | ||
Other deferred tax assets | 10,362 | 12,018 |
Pre-Opening Costs and Expenses [Member] | ||
Deferred tax assets relating to: | ||
Other deferred tax assets | 242 | 276 |
Other Real Estate Write Downs [Member] | ||
Deferred tax assets relating to: | ||
Other deferred tax assets | $4,270 | $4,456 |
Note_13_Regulatory_Matters_Det
Note 13 - Regulatory Matters (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 02, 2012 | 31-May-02 | |
Note 13 - Regulatory Matters (Details) [Line Items] | |||||
Minimum Net Worth Required for Compliance | $1,000,000 | ||||
Minimum Net Worth for HUD Approval FHA Originations Excess Fee Rate | 1.00% | ||||
Minimum Net Worth Requirement FHA Originations | 25,000,000 | ||||
Minimum Net Worth Requirement Maximum FHA Origination Fee | 2,500,000 | ||||
Deferred Tax Assets, Net | 35,623,000 | 36,318,000 | |||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ||||
Maximum Consolidated Assets for Holding Companies | 15,000,000,000 | ||||
Minimum Tier One Leverage Capital to Average Assets Ratio | 1.25% | ||||
Minimum Common Equity Tier 1 Capital Ratio | 4.50% | ||||
Minimum Tier 1 Capital Ratio | 6.00% | ||||
Minimum Total Capital Ratio | 8.00% | ||||
Minimum Leverage Ratio | 4.00% | ||||
Total Assets Threshold | 250,000,000,000 | ||||
Foreign Exposure Threshold | 10,000,000,000 | ||||
Minimum New Capital Conservation Buffer of Common Equity Tier 1 Capital | 2.50% | ||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in Shares) | 2,200,000 | ||||
Stock Repurchased During Period, Shares (in Shares) | 136,743 | 56,267 | 3,000 | ||
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share) | $6.56 | $6.46 | |||
Shares Paid for Tax Withholding for Share Based Compensation (in Shares) | 19,942 | ||||
Stock Repurchased During Period, Average Cost Per Share (in Dollars per share) | $6.69 | ||||
Other Restrictions on Payment of Dividends | 10% | ||||
Memo Liquidation Account | 7,600,000 | 7,600,000 | 44,000,000 | ||
Disallowed Portion [Member] | Park Sterling Corporation [Member] | |||||
Note 13 - Regulatory Matters (Details) [Line Items] | |||||
Deferred Tax Assets, Net | 27,700,000 | 27,700,000 | |||
Disallowed Portion [Member] | Park Sterling Bank [Member] | |||||
Note 13 - Regulatory Matters (Details) [Line Items] | |||||
Deferred Tax Assets, Net | $30,200,000 | $30,400,000 | |||
Park Sterling Corporation [Member] | |||||
Note 13 - Regulatory Matters (Details) [Line Items] | |||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% | |||
Park Sterling Bank [Member] | |||||
Note 13 - Regulatory Matters (Details) [Line Items] | |||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Note_13_Regulatory_Matters_Det1
Note 13 - Regulatory Matters (Details) - Capital Ratios (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
2014 | ||
Total Risk-Based Capital Ratio for Capital Adequacy Purposes Ratio | 8.00% | |
Park Sterling Corporation [Member] | ||
2014 | ||
Total Risk-Based Capital Ratio Amount | $239,557 | $234,508 |
Total Risk-Based Capital Ratio | 13.95% | 16.46% |
Total Risk-Based Capital Ratio for Capital Adequacy Purposes | 137,360 | 113,966 |
Total Risk-Based Capital Ratio for Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Risk-Based Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions | 171,700 | 142,457 |
Total Risk-Based Capital to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 Capital Ratio Amount | 231,088 | 218,552 |
Tier 1 Capital Ratio | 13.46% | 15.34% |
Tier 1 Capital Ratio for Capital Adequacy Purposes | 68,680 | 56,983 |
Tier 1 Capital Ratio for Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions | 103,020 | 85,474 |
Tier 1 Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio Amount | 231,088 | 218,552 |
Tier 1 Leverage Ratio | 10.17% | 11.63% |
Tier 1 Leverage Ratio for Capital Adequacy Purposes | 90,931 | 75,171 |
Tier 1 Leverage Ratio for Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Leverage Ratio to be well Capitalized Under Prompt Corrective Action Provisions | 113,664 | 93,964 |
Tier 1 Leverage Ratio to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Park Sterling Bank [Member] | ||
2014 | ||
Total Risk-Based Capital Ratio Amount | 224,579 | 209,786 |
Total Risk-Based Capital Ratio | 13.11% | 14.77% |
Total Risk-Based Capital Ratio for Capital Adequacy Purposes | 137,089 | 113,626 |
Total Risk-Based Capital Ratio for Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total Risk-Based Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions | 171,361 | 142,033 |
Total Risk-Based Capital to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 Capital Ratio Amount | 216,110 | 193,830 |
Tier 1 Capital Ratio | 12.61% | 13.65% |
Tier 1 Capital Ratio for Capital Adequacy Purposes | 68,544 | 56,813 |
Tier 1 Capital Ratio for Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions | 102,817 | 85,220 |
Tier 1 Capital Ratio to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.00% | 6.00% |
Tier 1 Leverage Ratio Amount | 216,110 | 193,830 |
Tier 1 Leverage Ratio | 9.56% | 10.41% |
Tier 1 Leverage Ratio for Capital Adequacy Purposes | 90,394 | 74,477 |
Tier 1 Leverage Ratio for Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier 1 Leverage Ratio to be well Capitalized Under Prompt Corrective Action Provisions | $112,993 | $93,096 |
Tier 1 Leverage Ratio to be well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Note_14_Preferred_Stock_Detail
Note 14 - Preferred Stock (Details) (USD $) | 0 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Oct. 02, 2012 | |
Note 14 - Preferred Stock (Details) [Line Items] | ||||
Preferred Stock, Shares Issued | 0 | 0 | ||
Series C Preferred Stock [Member] | ||||
Note 14 - Preferred Stock (Details) [Line Items] | ||||
Preferred Stock, Shares Issued | 20,500 | |||
Stock Redeemed or Called During Period, Shares | 20,500 | |||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $1,000 |
Note_15_Leases_Details
Note 15 - Leases (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Leases [Abstract] | |||
Operating Leases, Rent Expense | $2.80 | $1.30 | $1.10 |
Note_15_Leases_Details_Future_
Note 15 - Leases (Details) - Future Minimum Lease Payments (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments [Abstract] | |
2015 | $2,133 |
2016 | 1,869 |
2017 | 1,243 |
2018 | 1,073 |
2019 | 926 |
Thereafter | 4,699 |
Total | $11,944 |
Note_16_Offbalance_Sheet_Risk_1
Note 16 - Off-balance Sheet Risk (Details) - Exposure to Off-balance Sheet Risk (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Undisbursed Lines of Credit [Member] | |
Financial instruments whose contract amounts represent credit risk: | |
Financial instrumP5nts whosP5 contract amounts rP5prP5sP5nt crP5dit risk | $328,293 |
Standby Letter of Credit Member [Member] | |
Financial instruments whose contract amounts represent credit risk: | |
Financial instrumP5nts whosP5 contract amounts rP5prP5sP5nt crP5dit risk | 5,402 |
Commercial Letters of Credit [Member] | |
Financial instruments whose contract amounts represent credit risk: | |
Financial instrumP5nts whosP5 contract amounts rP5prP5sP5nt crP5dit risk | $717 |
Note_17_Derivative_Financial_I2
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) (USD $) | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | |
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative, Notional Amount | $75,626,000 | $165,370,000 | |
Interest Rate Derivative Liabilities, at Fair Value | 258,000 | 4,008,000 | |
Interest Rate Derivative Assets, at Fair Value | 545,000 | 1,154,000 | |
Interest Rate Swap [Member] | FHLB Borrowings [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 298,000 | -939,000 | |
Collateral Already Posted, Aggregate Fair Value | 939,000 | ||
Interest Rate Swap [Member] | Other Liabilities [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Interest Rate Derivative Liabilities, at Fair Value | 1,200,000 | ||
Interest Rate Swap [Member] | Other Assets [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Interest Rate Derivative Assets, at Fair Value | 1,200,000 | ||
Interest Rate Swap [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Asset, Notional Amount | 20,000,000 | ||
Derivative Forward Starting Period | 3 years | ||
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | 5 years | ||
Derivative, Fixed Interest Rate | 3.44% | ||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 247,000 | -1,500,000 | |
Collateral Already Posted, Aggregate Fair Value | 1,500,000 | ||
Derivative, Number of Instruments Held | 3 | ||
Derivative, Notional Amount | 50,000,000 | 35,300,000 | |
Derivative, Amount of Hedged Item | 7 | ||
Five Year Interest Rate Swap [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | 5 years | ||
Derivative, Fixed Interest Rate | 1.69% | ||
Derivative, Notional Amount | 12,500,000 | ||
Seven Year Interest Rate Swap [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Maximum Length of Time Hedged in Interest Rate Cash Flow Hedge | 7 years | ||
Derivative, Fixed Interest Rate | 2.34% | ||
Derivative, Notional Amount | 12,500,000 | ||
Two Year Forward Starting Swap [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative, Fixed Interest Rate | 3.10% | ||
Derivative, Notional Amount | 25,000,000 | ||
Loan Swaps [Member] | |||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) [Line Items] | |||
Derivative Asset, Notional Amount | $26,100,000 | ||
Derivative, Number of Instruments Held | 7 |
Note_17_Derivative_Financial_I3
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Summary of Derivative Instruments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Interest rate contracts: | ||
Notional amount | $165,370 | $75,626 |
Estimated fair value gain | 1,154 | 545 |
Estimated fair value loss | 4,008 | 258 |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Liabilities [Member] | ||
Interest rate contracts: | ||
Notional amount | 35,289 | |
Estimated fair value loss | 1,154 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Assets [Member] | ||
Interest rate contracts: | ||
Notional amount | 35,289 | |
Estimated fair value gain | 1,154 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | ||
Interest rate contracts: | ||
Notional amount | 70,578 | |
Estimated fair value gain | 1,154 | |
Estimated fair value loss | 1,154 | |
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Interest Rate Contract [Member] | Other Assets and Other Liabilities [Member] | ||
Interest rate contracts: | ||
Notional amount | 70,000 | 70,000 |
Estimated fair value gain | 545 | |
Estimated fair value loss | 2,414 | |
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member] | Other Liabilities [Member] | ||
Interest rate contracts: | ||
Notional amount | 24,792 | 5,626 |
Estimated fair value loss | 440 | 258 |
Interest Rate Swap [Member] | Other Liabilities [Member] | ||
Interest rate contracts: | ||
Estimated fair value loss | 1,200 | |
Interest Rate Swap [Member] | Other Assets [Member] | ||
Interest rate contracts: | ||
Estimated fair value gain | 1,200 | |
Interest Rate Swap [Member] | ||
Interest rate contracts: | ||
Notional amount | $35,300 | $50,000 |
Note_17_Derivative_Financial_I4
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Amounts Recognized in the Consolidated Statements of Income and Statement of Comprehensive Income (Interest Rate Contract [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Amounts Recognized in the Consolidated Statements of Income and Statement of Comprehensive Income [Line Items] | ||
Pre-tax gain (loss) recognized in income | ($339) | ($175) |
Interest Expense [Member] | Cash Flow Hedging [Member] | ||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Amounts Recognized in the Consolidated Statements of Income and Statement of Comprehensive Income [Line Items] | ||
Interest rate contracts | -3,381 | 545 |
Interest rate contracts | 422 | |
Interest Income [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member] | ||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Amounts Recognized in the Consolidated Statements of Income and Statement of Comprehensive Income [Line Items] | ||
Pre-tax gain (loss) recognized in income | -261 | -175 |
Other Income [Member] | Not Designated as Hedging Instrument [Member] | ||
Note 17 - Derivative Financial Instruments and Hedging Activities (Details) - Amounts Recognized in the Consolidated Statements of Income and Statement of Comprehensive Income [Line Items] | ||
Pre-tax gain (loss) recognized in income | ($78) |
Note_18_Accumulated_Other_Comp2
Note 18 - Accumulated Other Comprehensive Income (Loss) (Details) - Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Securities available for sale and transferred securities: | |||
Change in net unrealized gains (losses) during the period | $10,464 | ($13,200) | $1,908 |
Change in net unrealized gains (losses) during the period | 3,893 | -4,919 | |
Change in net unrealized gains (losses) during the period | 6,571 | -8,281 | |
Change in net unrealized loss on securities transferred to held to maturity | -2,055 | ||
Change in net unrealized loss on securities transferred to held to maturity | -773 | ||
Change in net unrealized loss on securities transferred to held to maturity | -1,282 | ||
Reclassification adjustment for net gains recognized in net income | -180 | -98 | -1,478 |
Reclassification adjustment for net gains recognized in net income | -67 | -36 | |
Reclassification adjustment for net gains recognized in net income | -113 | -62 | |
Total securities available for sale and transferred securities | 8,229 | -13,298 | 430 |
Total securities available for sale and transferred securities | 3,053 | -4,955 | |
Total securities available for sale and transferred securities | 5,176 | -8,343 | |
Derivatives: | |||
Change in the accumulated loss on effective cash flow hedge derivatives | -3,381 | 545 | |
Change in the accumulated loss on effective cash flow hedge derivatives | -1,269 | 202 | |
Change in the accumulated loss on effective cash flow hedge derivatives | -2,112 | 343 | |
Reclassification adjustment for interest payments | 422 | ||
Reclassification adjustment for interest payments | 159 | ||
Reclassification adjustment for interest payments | 263 | ||
Total derivatives | -2,959 | 545 | |
Total derivatives | -1,110 | 202 | |
Total derivatives | -1,849 | 343 | |
Total other comprehensive income (loss) | 5,270 | -12,753 | 430 |
Total other comprehensive income (loss) | 1,943 | -4,753 | 112 |
Total other comprehensive income (loss) | $3,327 | ($8,000) | $318 |
Note_18_Accumulated_Other_Comp3
Note 18 - Accumulated Other Comprehensive Income (Loss) (Details) - Activity in Accumulated Other Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss) | ($4,802) | $3,198 | |
Accumulated other comprehensive income (loss) | -1,475 | -4,802 | 3,198 |
Other comprehensive income (loss) before reclassifications | 3,177 | -7,938 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 150 | -62 | |
Transfer of securities from available for sale to held to maturity | -5,176 | 8,343 | |
Net other comprehensive income (loss) during the period | 3,327 | -8,000 | 318 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss) | -5,145 | 3,198 | |
Accumulated other comprehensive income (loss) | 1,313 | -5,145 | |
Other comprehensive income (loss) before reclassifications | 5,289 | -8,281 | |
Amounts reclassified from accumulated other comprehensive income (loss) | -113 | -62 | |
Transfer of securities from available for sale to held to maturity | 1,282 | ||
Net other comprehensive income (loss) during the period | 6,458 | -8,343 | |
Securities Transferred from Available-for-Sale to Held-to-Maturity [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss) | -1,282 | ||
Transfer of securities from available for sale to held to maturity | -1,282 | ||
Net other comprehensive income (loss) during the period | -1,282 | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Accumulated other comprehensive income (loss) | 343 | ||
Accumulated other comprehensive income (loss) | -1,506 | 343 | |
Other comprehensive income (loss) before reclassifications | -2,112 | 343 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 263 | ||
Net other comprehensive income (loss) during the period | ($1,849) | $343 |
Note_19_Fair_Value_of_Financia2
Note 19 - Fair Value of Financial Instruments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Real Estate Acquired Through Foreclosure | $7,400,000 | $4,200,000 | |
Impairment of Real Estate | 604,000 | 1,394,000 | 2,421,000 |
Before Impairment [Member] | OREO Impaired During Nine Months Period [Member] | |||
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Impairment of Real Estate | 604,000 | 1,400,000 | |
Before Impairment [Member] | |||
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Real Estate Acquired Through Foreclosure | $8,100,000 | $5,600,000 | |
Real Estate [Member] | Minimum [Member] | |||
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.00% | ||
Minimum [Member] | |||
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 0.00% | ||
Maximum [Member] | |||
Note 19 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Fair Value Inputs, Discount Rate | 100.00% |
Note_19_Fair_Value_of_Financia3
Note 19 - Fair Value of Financial Instruments (Details) - Financial Instruments Carrying Amounts and Estimated Fair Values (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ||||
Cash and cash equivalents - carrying amount | $51,390 | $55,067 | $184,142 | $28,543 |
Investment securities available-for-sale | 375,683 | 349,491 | ||
Investment securities held-to-maturity | 115,741 | 51,972 | ||
Investment securities held-to-maturity | 117,627 | 51,334 | ||
Nonmarketable equity securities - carrying amount | 11,532 | 5,905 | ||
Loans held for sale - carrying amount | 11,602 | 2,430 | ||
Loans, net of allowance - carrying amount | 1,572,431 | 1,286,977 | ||
FDIC indemnification asset | 3,964 | 10,025 | 18,697 | |
FDIC Indemnification asset - fair value | 3,964 | 10,025 | 18,697 | |
Accrued interest receivable - carrying amount | 4,467 | 4,222 | ||
Derivative assets - carrying amount | 1,154 | 258 | ||
Financial liabilities: | ||||
Deposits - carrying amount | 1,851,354 | 1,599,885 | ||
Borrowings - carrying amount | 203,583 | 78,048 | ||
Accrued interest payable - carrying amount | 398 | 412 | ||
Derivative liabilities - carrying amount | 4,008 | 545 | ||
No Stated Maturity [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Financial liabilities: | ||||
Deposits - fair value | 1,309,973 | 1,055,457 | ||
No Stated Maturity [Member] | ||||
Financial liabilities: | ||||
Deposits - carrying amount | 1,309,973 | 1,055,457 | ||
No Stated Maturity [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial liabilities: | ||||
Deposits - fair value | 1,309,973 | 1,055,457 | ||
Stated Maturity [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Financial liabilities: | ||||
Deposits - fair value | 543,728 | 545,111 | ||
Stated Maturity [Member] | ||||
Financial liabilities: | ||||
Deposits - carrying amount | 541,381 | 544,428 | ||
Stated Maturity [Member] | Estimate of Fair Value Measurement [Member] | ||||
Financial liabilities: | ||||
Deposits - fair value | 543,728 | 545,111 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents - fair value | 51,390 | 55,067 | ||
Investment securities available-for-sale | 1,712 | 1,906 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Investment securities available-for-sale | 372,401 | 347,585 | ||
Investment securities held-to-maturity | 117,627 | 51,334 | ||
Nonmarketable equity securities - fair value | 11,532 | 5,905 | ||
Loans held for sale - fair value | 11,602 | 2,430 | ||
Loans, net of allowance - fair value | 28,800 | 5,884 | ||
Accrued interest receivable - fair value | 4,467 | 4,222 | ||
Derivative assets - fair value | 1,154 | 258 | ||
Financial liabilities: | ||||
Borrowings - fair value | 203,207 | 77,899 | ||
Accrued interest payable - fair value | 398 | 412 | ||
Derivative liabilities - fair value | 4,008 | 545 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Investment securities available-for-sale | 1,570 | |||
Loans, net of allowance - fair value | 1,485,494 | 1,261,465 | ||
FDIC indemnification asset | 3,802 | 10,025 | ||
FDIC Indemnification asset - fair value | 3,802 | 10,025 | ||
Estimate of Fair Value Measurement [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents - fair value | 51,390 | 55,067 | ||
Investment securities available-for-sale | 375,683 | 349,491 | ||
Investment securities held-to-maturity | 117,627 | 51,334 | ||
Nonmarketable equity securities - fair value | 11,532 | 5,905 | ||
Loans held for sale - fair value | 11,602 | 2,430 | ||
Loans, net of allowance - fair value | 1,514,294 | 1,267,349 | ||
FDIC indemnification asset | 3,802 | 10,025 | ||
FDIC Indemnification asset - fair value | 3,802 | 10,025 | ||
Accrued interest receivable - fair value | 4,467 | 4,222 | ||
Derivative assets - fair value | 1,154 | 258 | ||
Financial liabilities: | ||||
Borrowings - fair value | 203,207 | 77,899 | ||
Accrued interest payable - fair value | 398 | 412 | ||
Derivative liabilities - fair value | $4,008 | $545 |
Note_19_Fair_Value_of_Financia4
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Recurring Basis (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 [Member] | All Other Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | $1,712 | $1,906 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 537 | 558 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 12,851 | 16,506 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 147,015 | 90,248 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 144,080 | 103,349 |
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 4,868 | 61,402 |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 61,050 | 71,077 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 2,000 | 4,445 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Loans measured on a recurring basis | 28,800 | 5,884 |
Derivative instruments | -2,854 | 287 |
Fair Value, Inputs, Level 2 [Member] | ||
2014 recurring | ||
Loans measured on a recurring basis | 28,800 | 5,884 |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 1,570 | |
Fair Value, Inputs, Level 3 [Member] | ||
2014 recurring | ||
Loans measured on a recurring basis | 1,485,494 | 1,261,465 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 537 | 558 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 12,851 | 16,506 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 147,015 | 90,248 |
Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 144,080 | 103,349 |
Commercial Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 4,868 | 61,402 |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 61,050 | 71,077 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 3,570 | 4,445 |
All Other Equity Securities [Member] | Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Investments measured on a recurring basis | 1,712 | 1,906 |
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Loans measured on a recurring basis | 28,800 | 5,884 |
Derivative instruments | -2,854 | 287 |
Estimate of Fair Value Measurement [Member] | ||
2014 recurring | ||
Loans measured on a recurring basis | $1,514,294 | $1,267,349 |
Note_19_Fair_Value_of_Financia5
Note 19 - Fair Value of Financial Instruments (Details) - Level 3 Assets Reconciliation (Available-for-sale Securities [Member], Fair Value, Inputs, Level 3 [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value | $0 | $415 |
Security acquired from Provident Community | 1,435 | |
Change in unrealized gain recognized in other comprehensive income | 135 | |
Transfer out of level 3 | -415 | |
Fair value | $1,570 | $0 |
Note_19_Fair_Value_of_Financia6
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Nonrecurring Basis (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial and Industrial [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | $208 | $69 |
Commercial and Industrial [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 208 | 69 |
Commercial Real Estate Owner Occupied [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 56 | 73 |
Commercial Real Estate Owner Occupied [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 56 | 73 |
Commercial Real Estate Investor Income Producing [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 353 | 2,659 |
Commercial Real Estate Investor Income Producing [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 353 | 2,659 |
Other Commercial [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 148 | 93 |
Other Commercial [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 148 | 93 |
Residential Mortgage Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 954 | 510 |
Residential Mortgage Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 954 | 510 |
Home Equity Lines of Credit [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 570 | 184 |
Home Equity Lines of Credit [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 570 | 184 |
Residential Construction [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 357 | 34 |
Residential Construction [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 357 | 34 |
Other Loans to Individuals [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired loans: | ||
Impaired Loans | 78 | 1 |
Other Loans to Individuals [Member] | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Impaired loans: | ||
Impaired Loans | 78 | 1 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Nonrecurring Basis [Line Items] | ||
OREO | 11,532 | 5,905 |
Impaired loans: | ||
Impaired Loans | 28,800 | 5,884 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Nonrecurring Basis [Line Items] | ||
OREO | 7,408 | 9,085 |
Fair Value, Inputs, Level 3 [Member] | ||
Impaired loans: | ||
Impaired Loans | 1,485,494 | 1,261,465 |
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Nonrecurring Basis [Line Items] | ||
OREO | 7,408 | 9,085 |
Estimate of Fair Value Measurement [Member] | ||
Note 19 - Fair Value of Financial Instruments (Details) - Fair Value on a Nonrecurring Basis [Line Items] | ||
OREO | 11,532 | 5,905 |
Impaired loans: | ||
Impaired Loans | $1,514,294 | $1,267,349 |
Note_19_Fair_Value_of_Financia7
Note 19 - Fair Value of Financial Instruments (Details) - Change in Value of OREO (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Change in Value of OREO [Abstract] | ||
OREO | ($604) | ($1,394) |
Note_19_Fair_Value_of_Financia8
Note 19 - Fair Value of Financial Instruments (Details) - Valuation Methodology and Unobservable Inputs for Level 3 Assets (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value (in Dollars) | 10,132 |
Real Estate [Member] | Minimum [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 8.00% |
Real Estate [Member] | Minimum [Member] | Appraisals [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 0.00% |
Real Estate [Member] | Maximum [Member] | Appraisals [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 59.00% |
Real Estate [Member] | Weighted Average [Member] | Appraisals [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 3.68% |
Real Estate [Member] | Appraisals [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value (in Dollars) | 7,408 |
Impaired Loans [Member] | Minimum [Member] | Discounted Cash Flows [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 0.00% |
Impaired Loans [Member] | Minimum [Member] | Collateral Based Measurements [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 0.00% |
Impaired Loans [Member] | Maximum [Member] | Discounted Cash Flows [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 100.00% |
Impaired Loans [Member] | Maximum [Member] | Collateral Based Measurements [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 100.00% |
Impaired Loans [Member] | Weighted Average [Member] | Discounted Cash Flows [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 12.99% |
Impaired Loans [Member] | Weighted Average [Member] | Collateral Based Measurements [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 38.32% |
Impaired Loans [Member] | Discounted Cash Flows [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value (in Dollars) | 1,744 |
Impaired Loans [Member] | Collateral Based Measurements [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Fair Value (in Dollars) | 980 |
Minimum [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 0.00% |
Maximum [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Range of Inputs | 100.00% |
Note_20_Employee_and_Director_2
Note 20 - Employee and Director Benefit Plans (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Cost Recognized | $431,000 | $460,000 | $57,000 | |||||||||
Deferred Compensation Liability, Current and Noncurrent | 8,300,000 | 8,400,000 | 8,300,000 | 8,400,000 | ||||||||
Cash Surrender Value of Life Insurance | 57,700,000 | 47,800,000 | 57,700,000 | 47,800,000 | ||||||||
Proceeds from Life Insurance Policies | 1,081,000 | 0 | 0 | |||||||||
Noninterest Income | 3,351,000 | 3,138,000 | 3,978,000 | 3,486,000 | 4,155,000 | 3,257,000 | 4,106,000 | 3,568,000 | 13,953,000 | 15,086,000 | 11,372,000 | |
Split Dollar Life Insurance Policy, Amount | 100,000 | 100,000 | ||||||||||
Shares Held in Employee Stock Option Plan, Allocated (in Shares) | 88,411 | 141,760 | 88,411 | 141,760 | ||||||||
Common Stock, Shares Held in Employee Trust | 650,000 | 1,000,000 | 650,000 | 1,000,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | $3.04 | |||||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | $15.45 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $7.40 | $7.40 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 17,500 | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $6.70 | $1.60 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 100,000 | 1,300,000 | 1,600,000 | |||||||||
Allocated Share-based Compensation Expense | 1,100,000 | 1,800,000 | 2,000,000 | |||||||||
Deferred Compensation Until Retirement Or Separation of Employment [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Cost Recognized | 23,000 | 5,000 | ||||||||||
Deferred Compensation Liability, Current and Noncurrent | 871,000 | 328,000 | 871,000 | 328,000 | ||||||||
Deferred Compensation Plan, Interest Accrual Rate | 3.25% | |||||||||||
Restricted Stock [Member] | Park Sterling Corporation 2010 Long-Term Incentive Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 761,132 | 761,132 | ||||||||||
Restricted Stock [Member] | Long Term Incentive Plan 2014 [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 159,963 | 159,963 | ||||||||||
Restricted Stock [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | 921,095 | 770,399 | 921,095 | 770,399 | 646,260 | 568,260 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in Shares) | 7,250 | 23,860 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 238,613 | 174,000 | 78,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $6.53 | $5.70 | $4.75 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 1,700,000 | 1,200,000 | 1,700,000 | 1,200,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 317 days | 317 days | ||||||||||
Performance Shares [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (in Shares) | 0 | 13,860 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in Shares) | 554,400 | 554,400 | ||||||||||
Employee Stock Option [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 2,171,357 | 2,225,551 | 2,171,357 | 2,225,551 | 3,119,692 | 2,145,189 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $7.40 | $7.35 | $7.40 | $7.35 | $7.84 | 7.62 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 17,500 | 15,000 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 41,000 | 35,000 | 41,000 | 35,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 25 days | 167 days | ||||||||||
Insurance Settlement [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Noninterest Income | 651,000 | |||||||||||
Share-based Compensation Award, Tranche One [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Stock Price Performance Threshold for Vesting Percentage of Offer Price | 125.00% | |||||||||||
Stock Price Performance Threshold for Vesting (in Dollars per share) | $8.13 | |||||||||||
Share-based Compensation Award, Tranche Two [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Stock Price Performance Threshold for Vesting Percentage of Offer Price | 140.00% | |||||||||||
Stock Price Performance Threshold for Vesting (in Dollars per share) | $9.10 | |||||||||||
Share-based Compensation Award, Tranche Three [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Stock Price Performance Threshold for Vesting Percentage of Offer Price | 160.00% | |||||||||||
Stock Price Performance Threshold for Vesting (in Dollars per share) | $10.40 | |||||||||||
Postretirement Life Insurance [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Cost Recognized | 304,000 | 61,000 | ||||||||||
Deferred Compensation Liability, Current and Noncurrent | 2,000,000 | 1,700,000 | 2,000,000 | 1,700,000 | ||||||||
Maximum Amount for 100% Matching Contributions [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 100.00% | |||||||||||
Matching Amount for 3% of Annual Salary [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | |||||||||||
Matching Amount for 4%-6% of Annual Salary [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | |||||||||||
Minimum Amount for Matching at 50% [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | |||||||||||
Maximum Amount for Matching at 50% [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | |||||||||||
Profit Sharing 401K Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Defined Contribution Plan, Cost Recognized | $1,100,000 | $912,000 | $685,000 | |||||||||
Park Sterling Bank 2010 Stock Option Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,859,550 | 1,859,550 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 0 | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 1,890,397 | 1,890,397 | ||||||||||
2006 Option Plans for Directors and Employers [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 990,000 | 990,000 | ||||||||||
Park Sterling Corporation 2010 Long-Term Incentive Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,016,400 | 1,016,400 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 0 | 0 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 115,007 | 115,007 | ||||||||||
Long Term Incentive Plan 2014 [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,000,000 | 1,000,000 | ||||||||||
Citizens South Banking Corporation 2008 Equity Incentive Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 152,892 | 152,892 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||
Citizens South Bank Corporation 2003 Stock Option Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 12,431 | 12,431 | ||||||||||
Citizen South Bank Corporation 1999 Stock Option Plan [Member] | ||||||||||||
Note 20 - Employee and Director Benefit Plans (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 630 | 630 |
Note_20_Employee_and_Director_3
Note 20 - Employee and Director Benefit Plans (Details) - Stock Option Activity (USD $) | 0 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 20 - Employee and Director Benefit Plans (Details) - Stock Option Activity [Line Items] | |||||
Balance, weighted average exercise price | $7.40 | ||||
Options granted | 17,500 | 0 | |||
Non-vested options, granted | 17,500 | 0 | |||
Options exercised | -54,199 | -60,943 | |||
Employee Stock Option [Member] | |||||
Note 20 - Employee and Director Benefit Plans (Details) - Stock Option Activity [Line Items] | |||||
Balance, number outstanding | 2,145,189 | 2,171,357 | 2,225,551 | 3,119,692 | 2,145,189 |
Balance, weighted average exercise price | $7.62 | $7.40 | $7.35 | $7.84 | $7.62 |
Balance, non-vested options | 1,037,771 | 20,833 | 49,446 | 550,192 | 1,037,771 |
Balance, non-vested options, weighted average exercise price | $2.59 | $6.39 | $5.19 | $6.28 | $2.59 |
Exercisable at December 31, 2014 | $7.41 | ||||
Exercisable at December 31, 2014 | 2,150,523 | ||||
Options acquired through merger | 990,278 | ||||
Options acquired through merger | $8.33 | ||||
Options granted | 17,500 | 15,000 | |||
Options granted, weighted average exercise price | $6.70 | $4.65 | |||
Non-vested options, granted | 17,500 | 15,000 | |||
Non-vested options, granted, weighted average exercise price | $6.70 | $4.65 | |||
Options exercised | -54,199 | -60,942 | |||
Options exercised, weighted average exercise price | $4.67 | $5.09 | |||
Expired and forfeited | -17,495 | -833,199 | -30,775 | ||
Expired and forfeited, weighted average exercise price | $9.07 | $9.34 | $7.94 | ||
Non-vested options, expired and forfeited | -3,333 | -1,667 | -30,775 | ||
Non-vested options, expired and forfeited, weighted average exercise price | $4.46 | $4.99 | $7.94 | ||
Non-vested options, options vested | -42,780 | -499,079 | -471,804 | ||
Non-vested options, options vested, weighted average exercise price | $5.28 | $6.39 | $1.03 | ||
Restricted Stock [Member] | |||||
Note 20 - Employee and Director Benefit Plans (Details) - Stock Option Activity [Line Items] | |||||
Balance, weighted average contractual term | 7 years 244 days | 4 years 251 days | 5 years 237 days | 5 years 98 days | |
Balance, intrinsic value | $7,045 | $1,668,621 | $1,471,095 | $102,762 | $7,045 |
Exercisable at December 31, 2014 | 4 years 237 days |
Note_20_Employee_and_Director_4
Note 20 - Employee and Director Benefit Plans (Details) - Restricted Share Activity (Restricted Stock [Member], USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restricted Stock [Member] | |||
Note 20 - Employee and Director Benefit Plans (Details) - Restricted Share Activity [Line Items] | |||
Balance, number outstanding (in Shares) | 770,399 | 646,260 | 568,260 |
Balance, weighted average grant date fair value (in Dollars per share) | $4.35 | $4.01 | $3.91 |
Balance, aggregate intrinsic value | $5,315,008 | $3,379,940 | $2,318,501 |
Restricted shares granted (in Shares) | 238,613 | 174,000 | 78,000 |
Restricted shares granted, weighted average grant date fair value (in Dollars per share) | $6.53 | $5.70 | $4.75 |
Restricted shares granted, aggregate intrinsic value | 1,753,806 | 1,242,360 | 407,940 |
Expired and forfeited (in Shares) | -7,250 | -23,860 | |
Expired and forfeited, weighted average grant date fair value (in Dollars per share) | $5.67 | $4.59 | |
Expired and forfeited, aggregate intrinsic value | -53,287 | -170,360 | |
Restricted shares vested (in Shares) | -80,667 | -26,001 | |
Restricted shares vested, weighted average grant date fair value (in Dollars per share) | $5.40 | $4.75 | |
Restricted shares vested, aggregate intrinsic value | -592,906 | -185,644 | |
Change in intrinsic value of performance grants | 347,428 | 1,048,712 | 653,499 |
Balance, number outstanding (in Shares) | 921,095 | 770,399 | 646,260 |
Balance, weighted average grant date fair value (in Dollars per share) | $4.81 | $4.35 | $4.01 |
Balance, aggregate intrinsic value | $6,770,049 | $5,315,008 | $3,379,940 |
Note_20_Employee_and_Director_5
Note 20 - Employee and Director Benefit Plans (Details) - Assumptions in Estimating Option Values | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 20 - Employee and Director Benefit Plans (Details) - Assumptions in Estimating Option Values [Line Items] | ||
Weighted-average volatility | 35.58% | |
Expected dividend yield | 1.00% | 0.00% |
Risk-free interest rate | 2.22% | 0.63% |
Expected life (years) | 7 years | |
Minimum [Member] | ||
Note 20 - Employee and Director Benefit Plans (Details) - Assumptions in Estimating Option Values [Line Items] | ||
Weighted-average volatility | 38.60% | |
Expected life (years) | 0 years | |
Maximum [Member] | ||
Note 20 - Employee and Director Benefit Plans (Details) - Assumptions in Estimating Option Values [Line Items] | ||
Weighted-average volatility | 39.00% | |
Expected life (years) | 7 years |
Note_21_Summarized_Quarterly_I2
Note 21 - Summarized Quarterly Information (Unaudited) (Details) - Selected Quarterly Financial Information (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Total interest income | $22,348 | $22,586 | $21,157 | $19,206 | $19,602 | $19,736 | $20,144 | $19,323 | $85,297 | $78,805 | $57,946 |
Total interest expense | 1,792 | 1,854 | 2,078 | 1,931 | 1,900 | 1,422 | 1,473 | 1,587 | 7,655 | 6,382 | 6,570 |
Net interest income | 20,556 | 20,732 | 19,079 | 17,275 | 17,702 | 18,314 | 18,671 | 17,736 | 77,642 | 72,423 | 51,376 |
Provision for loan losses | -420 | -484 | -365 | -17 | 781 | -419 | 75 | 309 | -1,286 | 746 | 2,023 |
Net interest income after provision | 20,976 | 21,216 | 19,444 | 17,292 | 16,921 | 18,733 | 18,596 | 17,427 | 78,928 | 71,677 | 49,353 |
Noninterest income | 3,351 | 3,138 | 3,978 | 3,486 | 4,155 | 3,257 | 4,106 | 3,568 | 13,953 | 15,086 | 11,372 |
Noninterest expense | 19,307 | 20,648 | 18,236 | 15,743 | 15,476 | 15,670 | 16,922 | 16,031 | 73,934 | 64,099 | 54,076 |
Income before taxes | 5,020 | 3,706 | 5,186 | 5,035 | 5,600 | 6,320 | 5,780 | 4,964 | 18,947 | 22,664 | 6,649 |
Income tax expense | 1,564 | 1,254 | 1,760 | 1,480 | 1,561 | 2,106 | 1,968 | 1,724 | 6,058 | 7,359 | 2,306 |
Preferred dividends | 302 | 51 | 353 | 51 | |||||||
Net income | $3,456 | $2,452 | $3,426 | $3,555 | $4,039 | $4,214 | $3,510 | $3,189 | $12,889 | $15,305 | $4,343 |
Basic earnings per common share (in Dollars per share) | $0.08 | $0.06 | $0.08 | $0.08 | $0.09 | $0.10 | $0.08 | $0.07 | $0.29 | $0.34 | $0.12 |
Diluted earnings per common share (in Dollars per share) | $0.08 | $0.06 | $0.08 | $0.08 | $0.09 | $0.10 | $0.08 | $0.07 | $0.29 | $0.34 | $0.12 |
Note_22_Park_Sterling_Corporat2
Note 22 - Park Sterling Corporation (Parent Company Only) (Details) - Condensed Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
ASSETS | ||||
Cash and due from banks | $16,549 | $13,087 | ||
Investment securities available-for-sale, at fair value | 375,683 | 349,491 | ||
Nonmarketable equity securities | 11,532 | 5,905 | ||
Premises and equipment, net | 59,247 | 55,923 | ||
Other assets | 7,648 | 5,087 | ||
Total assets | 2,359,230 | 1,960,827 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Subordinated debt | 23,583 | 22,052 | ||
Accrued interest payable | 398 | 412 | ||
Accrued expenses and other liabilities | 28,790 | 20,362 | ||
Total liabilities | 2,084,125 | 1,698,707 | ||
Shareholders' equity: | ||||
Additional paid-in capital | 222,819 | 222,596 | ||
Accumulated earnings (deficit) | 8,901 | -405 | ||
Accumulated other comprehensive loss | -1,475 | -4,802 | 3,198 | |
Total shareholders' equity | 275,105 | 262,120 | 275,739 | 190,054 |
Total liabilities and shareholders' equity | 2,359,230 | 1,960,827 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and due from banks | 3,203 | 8,417 | ||
Investment securities available-for-sale, at fair value | 12,851 | 16,354 | ||
Investment in banking subsidiary | 284,473 | 254,073 | ||
Nonmarketable equity securities | 1,146 | 774 | ||
Premises and equipment, net | 13 | |||
Other assets | 208 | 454 | ||
Total assets | 301,881 | 280,085 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Subordinated debt | 23,583 | 15,157 | ||
Accrued interest payable | 75 | 39 | ||
Accrued expenses and other liabilities | 3,118 | 2,769 | ||
Total liabilities | 26,776 | 17,965 | ||
Shareholders' equity: | ||||
Common Stock | 44,860 | 44,731 | ||
Additional paid-in capital | 222,819 | 222,596 | ||
Accumulated earnings (deficit) | 8,901 | -405 | ||
Accumulated other comprehensive loss | -1,475 | -4,802 | ||
Total shareholders' equity | 275,105 | 262,120 | ||
Total liabilities and shareholders' equity | $301,881 | $280,085 |
Note_22_Park_Sterling_Corporat3
Note 22 - Park Sterling Corporation (Parent Company Only) (Details) - Condensed Statements of Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income | |||||||||||
Other interest income | $2,521 | $2,033 | $634 | ||||||||
Gain (loss) on sale of securities available-for-sale | 180 | 98 | 1,478 | ||||||||
Expense | |||||||||||
Interest expense | 1,792 | 1,854 | 2,078 | 1,931 | 1,900 | 1,422 | 1,473 | 1,587 | 7,655 | 6,382 | 6,570 |
Other operating expense | 4,990 | 4,884 | 3,451 | ||||||||
Loss before income taxes and equity in undistributed earnings of subsidiary | 5,020 | 3,706 | 5,186 | 5,035 | 5,600 | 6,320 | 5,780 | 4,964 | 18,947 | 22,664 | 6,649 |
Income tax expense | 1,564 | 1,254 | 1,760 | 1,480 | 1,561 | 2,106 | 1,968 | 1,724 | 6,058 | 7,359 | 2,306 |
Preferred dividends | 302 | 51 | 353 | 51 | |||||||
Net income to common shareholders | 12,889 | 14,952 | 4,292 | ||||||||
Parent Company [Member] | |||||||||||
Income | |||||||||||
Other interest income | 688 | 756 | 1,432 | ||||||||
Gain (loss) on sale of securities available-for-sale | 276 | -41 | 989 | ||||||||
Other income | 1 | 100 | |||||||||
Total income | 965 | 715 | 2,521 | ||||||||
Expense | |||||||||||
Interest expense | 1,252 | 958 | 761 | ||||||||
Other operating expense | 1,209 | 557 | 1,030 | ||||||||
Total expense | 2,461 | 1,515 | 1,791 | ||||||||
Loss before income taxes and equity in undistributed earnings of subsidiary | -1,496 | -800 | 730 | ||||||||
Income tax expense | -679 | -528 | 114 | ||||||||
Net loss before equity in undistributed earnings of subsidiary | -817 | -272 | 616 | ||||||||
Preferred dividends | 353 | 51 | |||||||||
Equity in undistributed earnings of subsidiary | 13,706 | 15,577 | 3,727 | ||||||||
Net income to common shareholders | $12,889 | $14,952 | $4,292 |
Note_22_Park_Sterling_Corporat4
Note 22 - Park Sterling Corporation (Parent Company Only) (Details) - Condensed Statements of Cash Flow (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities | |||
Net income | $12,889 | $15,305 | $4,343 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
Amortization (accretion) of investment securities available-for-sale | 2,190 | 564 | -2,425 |
Other depreciation and amortization, net | 9,983 | 4,928 | 3,403 |
Loss on disposal of premises and equipment | 400 | 412 | -94 |
Net (gains) losses on sales of investment securities available-for-sale | -180 | -98 | -1,478 |
(Increase) decrease in other assets | -1,623 | 4,176 | -5,258 |
Increase in accrued interest payable | -1,575 | -104 | -1,433 |
Net cash used for operating activities | 13,872 | 32,759 | -4,080 |
Cash flows from investing activities | |||
Proceeds from maturities and call of investment securities available-for-sale | 49,206 | 45,412 | 43,998 |
Proceeds from sales of investment securities available-for-sale | 161,434 | 28,128 | 46,367 |
Acquisition of Provident Community | 59,045 | 24,283 | |
Net cash provided by (used for) investing activities | -71,263 | -84,645 | 179,978 |
Cash flows from financing activities | |||
Purchase of common stock | -1,027 | -366 | -15 |
Proceeds from exercise of stock options | 250 | 308 | |
Dividends on preferred stock | -353 | -51 | |
Dividends on common stock | -3,583 | -1,789 | |
Net cash used for financing activities | 53,714 | -77,189 | -20,299 |
Net decrease in cash and cash equivalents | -3,677 | -129,075 | 155,599 |
Cash and cash equivalents, beginning | 55,067 | 184,142 | 28,543 |
Cash and cash equivalents, ending | 51,390 | 55,067 | 184,142 |
Parent Company [Member] | |||
Cash flows from operating activities | |||
Net income | 12,889 | 15,305 | 4,343 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | |||
Equity in undistributed earnings in banking subsidiary | -14,385 | -16,105 | -3,613 |
Amortization (accretion) of investment securities available-for-sale | -34 | 14 | 499 |
Other depreciation and amortization, net | 614 | 482 | 444 |
Loss on disposal of premises and equipment | 11 | ||
Net (gains) losses on sales of investment securities available-for-sale | -276 | 41 | -989 |
(Increase) decrease in other assets | 246 | -118 | 669 |
Increase in accrued interest payable | -1,324 | -1,272 | |
Increase (decrease) in other liabilities | 264 | -22 | -19 |
Net cash used for operating activities | -1,995 | -403 | 62 |
Cash flows from investing activities | |||
Proceeds from maturities and call of investment securities available-for-sale | 1,625 | 30,607 | |
Proceeds from sales of investment securities available-for-sale | 2,405 | 8 | 17 |
Acquisition of Provident Community | -6,493 | -24,283 | |
Net cash provided by (used for) investing activities | -2,463 | 8 | 6,341 |
Cash flows from financing activities | |||
Purchase of common stock | -1,027 | -366 | -15 |
Proceeds from exercise of stock options | 250 | 308 | |
Investment in banking subsidiary | 21 | 245 | -5,000 |
Dividends on preferred stock | -353 | -51 | |
Dividends on common stock | -3,583 | -1,789 | |
Redemption of preferred stock | -20,500 | ||
Dividend from banking subsidiary | 3,583 | 22,289 | |
Net cash used for financing activities | -756 | -166 | -5,066 |
Net decrease in cash and cash equivalents | -5,214 | -561 | 1,337 |
Cash and cash equivalents, beginning | 8,417 | 8,978 | 7,641 |
Cash and cash equivalents, ending | 3,203 | 8,417 | 8,978 |
Supplemental disclosure of noncash investing and financing activities: | |||
Change in unrealized gain (loss) on available-for-sale securities, net of tax | 5,175 | -8,343 | 318 |
Change in unrealized gain (loss) on cash flow hedge, net of tax | -1,848 | 343 | |
Transfer from investment securities to investment in subsidiary | $6,541 |
Note_23_Subsequent_Event_Detai
Note 23 - Subsequent Event (Details) (Subsequent Event [Member], USD $) | 0 Months Ended |
Jan. 29, 2015 | |
Subsequent Event [Member] | |
Note 23 - Subsequent Event (Details) [Line Items] | |
Common Stock, Dividends, Per Share, Declared | $0.03 |