Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Mar. 17, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Registrant Name | 'BankGuam Holding Co | ' |
Entity Central Index Key | '0001527383 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 8,802,115 |
Entity Public Float | ' | $41,169,160 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $27,142 | $36,575 |
Federal Funds sold | 5,000 | 5,000 |
Interest bearing deposits in banks | 64,441 | 32,614 |
Total cash and cash equivalents | 96,583 | 74,189 |
Restricted cash | 400 | 150 |
Investment securities available-for-sale, at fair value | 182,832 | 273,522 |
Investment securities held-to-maturity, at amortized cost | 88,989 | 58,125 |
Federal Home Loan Bank stock, at cost | 2,098 | 2,159 |
Loans, net allowance for loan losses of $12,077 and $12,228, respectively | 860,883 | 748,832 |
Accrued interest receivable | 4,013 | 3,599 |
Premises and equipment, net | 18,249 | 17,712 |
Goodwill | 783 | 783 |
Other assets | 28,178 | 32,310 |
Total assets | 1,283,008 | 1,211,381 |
Deposits: | ' | ' |
Non-interest bearing | 321,408 | 279,322 |
Interest bearing | 862,037 | 823,218 |
Total deposits | 1,183,445 | 1,102,540 |
Accrued interest payable | 164 | 161 |
Borrowings | 0 | 10,145 |
Other liabilities | 5,544 | 4,111 |
Total liabilities | 1,189,153 | 1,116,957 |
Commitments and contingencies (Note 16) | ' | ' |
Stockholders' equity: | ' | ' |
Common stock $0.2083 par value; 48,000 shares authorized; 8,834 and 8,814 shares issued and 8,802 and 8,782 shares outstanding at December 31, 2013 and 2012, respectively | 1,840 | 1,844 |
Additional paid-in capital | 15,435 | 15,304 |
Retained earnings | 81,570 | 76,092 |
Accumulated other comprehensive (loss) income | -4,700 | 1,474 |
Stockholders' equity excluding treasury stock | 94,145 | 94,714 |
Common stock in treasury, at cost (32 shares) | -290 | -290 |
Total stockholders' equity | 93,855 | 94,424 |
Total liabilities and stockholders' equity | $1,283,008 | $1,211,381 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Loans, net of allowance for loan losses | $12,077 | $12,228 |
Common stock, par value | $0.21 | $0.21 |
Common stock, shares authorized | 48,000 | 48,000 |
Common stock, shares issued | 8,834 | 8,814 |
Common stock, shares outstanding | 8,802 | 8,782 |
Common stock in treasury, shares | 32 | 32 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Loans | $58,384 | $56,275 | $45,015 |
Investment securities | 4,934 | 5,671 | 5,834 |
Deposits with banks | 274 | 326 | 422 |
Federal Funds sold | 6 | 6 | 9 |
Total interest income | 63,598 | 62,278 | 51,280 |
Interest expense: | ' | ' | ' |
Savings deposits | 4,464 | 4,886 | 4,747 |
Time deposits | 255 | 262 | 437 |
Other borrowed funds | 81 | 399 | 431 |
Total interest expense | 4,800 | 5,547 | 5,615 |
Net interest income | 58,798 | 56,731 | 45,665 |
Provision for loan losses | 2,095 | 3,900 | 4,617 |
Net interest income, after provision for loan losses | 56,703 | 52,831 | 41,048 |
Non-interest income: | ' | ' | ' |
Service charges and fees | 4,416 | 4,118 | 4,097 |
Investment securities gains, net | 627 | 1,351 | 1,342 |
Gain on sale of assets | ' | ' | 1,058 |
Merchant services | 2,365 | 2,233 | 1,252 |
Cardholders income | 971 | 1,260 | 1,617 |
Trustee fees | 616 | 811 | 698 |
Other income | 2,697 | 2,794 | 2,533 |
Total non-interest income | 11,692 | 12,567 | 12,597 |
Non-interest expenses: | ' | ' | ' |
Salaries and employee benefits | 25,476 | 25,554 | 23,095 |
Occupancy | 6,857 | 6,250 | 6,008 |
Furniture and equipment depreciation | 6,086 | 6,229 | 4,953 |
Insurance | 1,678 | 1,750 | 1,710 |
Telecommunications | 1,441 | 1,528 | 1,242 |
Federal Depository Insurance Corporation assessment | 1,381 | 1,023 | 1,189 |
Professional services | 1,328 | 1,596 | 848 |
Contract services | 1,296 | 1,356 | 1,076 |
Other real estate owned | 1,143 | 147 | 217 |
Stationery and supplies | 724 | 864 | 812 |
Training and education | 687 | 639 | 750 |
General, administrative and other | 6,350 | 6,418 | 5,253 |
Total non-interest expenses | 54,447 | 53,354 | 47,153 |
Income before taxes | 13,948 | 12,044 | 6,492 |
Income tax expense | 4,080 | 3,424 | 758 |
Net income | $9,868 | $8,620 | $5,734 |
Earnings per share: | ' | ' | ' |
Basic | $1.12 | $0.98 | $0.66 |
Diluted | $1.12 | $0.98 | $0.54 |
Dividends declared per share | $0.50 | $0.50 | $0.50 |
Basic weighted average common shares | 8,790 | 8,779 | 8,752 |
Diluted weighted average common shares | 8,790 | 8,780 | 10,572 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $9,868 | $8,620 | $5,734 |
Other comprehensive income, net of tax effects: | ' | ' | ' |
Unrealized holding (loss) gain on available-for-sale securities arising during the period | -5,660 | 2,252 | 2,948 |
Reclassification for gains realized on available-for-sale securities | -627 | -1,284 | -1,342 |
Amortization of unrealized holding loss on held-to-maturity securities during the period | 113 | 160 | 143 |
Total other comprehensive (loss) income | -6,174 | 1,128 | 1,749 |
Comprehensive income | $3,694 | $9,748 | $7,483 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Paid-in Capital [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
In Thousands, except Share data, unless otherwise specified | ||||||
Beginning Balance at Dec. 31, 2010 | $84,352 | $1,830 | $13,683 | ($1,403) | $70,532 | ($290) |
Beginning Balance, Shares at Dec. 31, 2010 | ' | 8,714,116 | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 5,734 | ' | ' | ' | 5,734 | ' |
Change in accumulated other comprehensive income: | ' | ' | ' | ' | ' | ' |
Unrealized gain on available-for-sale securities | 1,749 | ' | ' | 1,749 | ' | ' |
Stock compensation expense | 1,164 | ' | 1,164 | ' | ' | ' |
Common stock issued under Employee Stock Option Plan | 442 | 13 | 429 | ' | ' | ' |
Common stock issued under Employee Stock Option Plan, Shares | ' | 64,581 | ' | ' | ' | ' |
Cash dividends on common stock | -4,405 | ' | ' | ' | -4,405 | ' |
Ending Balance at Dec. 31, 2011 | 89,036 | 1,843 | 15,276 | 346 | 71,861 | -290 |
Ending Balance, Shares at Dec. 31, 2011 | ' | 8,778,697 | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 8,620 | ' | ' | ' | 8,620 | ' |
Change in accumulated other comprehensive income: | ' | ' | ' | ' | ' | ' |
Unrealized gain on available-for-sale securities | 1,128 | ' | ' | 1,128 | ' | ' |
Stock compensation expense | ' | ' | ' | ' | ' | ' |
Common stock issued under Employee Stock Option Plan | 29 | 1 | 28 | ' | ' | ' |
Common stock issued under Employee Stock Option Plan, Shares | ' | 3,636 | ' | ' | ' | ' |
Cash dividends on common stock | -4,389 | ' | ' | ' | -4,389 | ' |
Ending Balance at Dec. 31, 2012 | 94,424 | 1,844 | 15,304 | 1,474 | 76,092 | -290 |
Ending Balance, Shares at Dec. 31, 2012 | ' | 8,782,333 | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 9,868 | ' | ' | ' | 9,868 | ' |
Change in accumulated other comprehensive income: | ' | ' | ' | ' | ' | ' |
Unrealized gain on available-for-sale securities | -6,174 | ' | ' | -6,174 | ' | ' |
Stock compensation expense | ' | ' | ' | ' | ' | ' |
Common stock issued under Employee Stock Option Plan | 127 | 3 | 124 | ' | ' | ' |
Common stock issued under Employee Stock Option Plan, Shares | ' | 19,782 | ' | ' | ' | ' |
Cash dividends on common stock | -4,390 | ' | ' | ' | -4,390 | ' |
Ending Balance at Dec. 31, 2013 | $93,855 | $1,847 | $15,428 | ($4,700) | $81,570 | ($290) |
Ending Balance, Shares at Dec. 31, 2013 | ' | 8,802,115 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $9,868 | $8,620 | $5,734 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 2,095 | 3,900 | 4,617 |
Depreciation and amortization | 3,101 | 3,037 | 2,864 |
Amortization of fees, discounts and premiums | 2,206 | 2,461 | 2,293 |
Write-down and loss (gain) on sales of other real estate owned, net | 127 | -74 | 170 |
Proceeds from sales of loans held for sale | 31,546 | 31,391 | 28,098 |
Origination of loans held for sale | -31,546 | -31,391 | -28,098 |
Increase in mortgage servicing rights | -69 | -257 | -86 |
Realized gain on sale of available-for-sale securities | -627 | -1,284 | -1,342 |
Realized gain on sale of assets | ' | ' | -1,058 |
Loss (gain) on disposal of premises and equipment | 1 | 18 | -97 |
Net change in: | ' | ' | ' |
Accrued interest receivable | -414 | -181 | 3,305 |
Other assets | 1,270 | 3,514 | -5,770 |
Accrued interest payable | 3 | -3 | -69 |
Other liabilities | 1,432 | 1,886 | 427 |
Net cash provided by operating activities | 18,993 | 21,637 | 10,988 |
Cash flows from investing activities: | ' | ' | ' |
Net change in restricted cash | -250 | ' | 1,000 |
Purchases of available-for-sale securities | -130,101 | -280,696 | -247,912 |
Purchases of held-to-maturity securities | ' | -25,709 | -32,178 |
Proceeds from sales of available-for-sale securities | 131,983 | 141,379 | 219,457 |
Maturities, prepayments and calls of available-for-sale securities | 35,381 | 38,083 | 48,499 |
Maturities, prepayments and calls of held-to-maturity securities | 14,810 | 14,601 | 12,933 |
Loan originations and principal collections, net | -112,222 | -23,901 | -121,535 |
Proceeds from sales of other real estate owned | 902 | 687 | 85 |
Proceeds from sales of premises and equipment | 1 | 20 | 465 |
Purchases of premises and equipment | -3,641 | -2,684 | -2,622 |
Net cash used in investing activities | -63,137 | -138,220 | -121,808 |
Cash flows from financing activities: | ' | ' | ' |
Net increase in deposits | 80,905 | 64,201 | 149,064 |
Payment of Federal Home Loan Bank advances | -10,000 | ' | -6,000 |
Proceeds from Federal Home Loan Bank stock redemption | 62 | 39 | 1,000 |
Proceeds from related party borrowings | ' | 160 | 200 |
Repayment of other borrowings | -145 | -215 | ' |
Proceeds from issuance of common stock | 106 | 17 | 442 |
Dividends paid | -4,390 | -4,389 | -4,405 |
Net cash provided by financing activities | 66,538 | 59,813 | 140,301 |
Net change in cash and cash equivalents | 22,394 | -56,770 | 29,481 |
Cash and cash equivalents at beginning of year | 74,189 | 130,959 | 101,478 |
Cash and cash equivalents at end of year | 96,583 | 74,189 | 130,959 |
Cash paid during the period for: | ' | ' | ' |
Interest | 4,800 | 5,546 | 5,684 |
Income taxes | 303 | 356 | 297 |
Supplemental schedule of noncash investing and financing activities: | ' | ' | ' |
Net change in unrealized gain on held-to-maturity securities, net of tax | -2,896 | 160 | 217 |
Net change in unrealized gain on available-for-sale securities, net of tax | -3,278 | 969 | 2,434 |
Other real estate owned transferred from loans, net | 2,193 | 807 | 603 |
Other real estate owned transferred to loans, net | ($268) | ($174) | ($540) |
Nature_of_Business
Nature of Business | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of Business | ' |
Note 1 – Nature of Business | |
Organization | |
The accompanying consolidated financial statements include the accounts of BankGuam Holding Company (“the Company”) and its wholly-owned subsidiary, Bank of Guam (“the Bank”). The Company is a Guam corporation organized on October 29, 2010 to act as a holding company of the Bank, a 23-branch bank serving the communities in Guam, the Commonwealth of the Northern Mariana Islands (CNMI), the Federated States of Micronesia (FSM), the Republic of the Marshall Islands (RMI), the Republic of Palau (ROP), and San Francisco, California. On August 15, 2011, the Company acquired all of the outstanding common stock of the Bank in a holding company formation transaction (the “Reorganization”). | |
Other than holding of the shares of the Bank, the Company conducts no significant activities, although it is authorized, with the prior approval of its principal regulator, the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) to engage in a variety of activities related to the business of banking. Currently, substantially all of the Company’s operations are conducted and substantially all of the assets are owned by the Bank, which accounts for substantially all of our consolidated revenues, expenses and operating income. The Bank provides a variety of financial services to individuals, businesses and governments through its branches. The Bank’s headquarters is located in Hagåtña, Guam, and it operates branches located on Guam, the CNMI, the FSM, the RMI, the ROP and the United States of America. Its primary deposit products are demand deposits, savings and time certificate accounts, and its primary lending products are consumer, commercial and real estate loans. | |
For ease of reference we will sometimes refer to the Company as “we”, “us” or “our.” |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 2 – Summary of Significant Accounting Policies | |
Principles of Consolidation and Basis of Presentation | |
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in effect in the United States (“GAAP”), on a basis consistent with prior periods. | |
The consolidated financial statements include the accounts of BankGuam Holding Company, the Bank and the Bank’s wholly owned subsidiaries, BankGuam Properties, Inc. and BankGuam Insurance Underwriters, Ltd. All significant intercompany and inter-branch balances and transactions have been eliminated in consolidation. | |
Assets held by the Bank’s Trust department in a fiduciary capacity are not assets of the Bank, and, accordingly, are not included in the accompanying consolidated financial statements. | |
Use of Estimates | |
The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the periods presented. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of other real estate owned and the fair value of financial instruments. | |
Cash and Cash Equivalents | |
For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash on hand and balances due from banks, Federal Funds sold, and interest bearing deposits with other banks, all of which mature within ninety days. The Bank is required by the Federal Reserve System to maintain cash reserves against certain of its deposit accounts. At December 31, 2013 and 2012, the required combined reserves totaled approximately $18,613 and $18,066, respectively. | |
Restricted Cash | |
Interest-bearing deposits in banks that mature within one year are carried at cost. These deposits are held jointly under the names of Bank of Guam and the Guam Insurance Commissioner, and are for the benefit of a Bank of Guam Trust Department customer. | |
Investment Securities | |
Certain debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity,” and are recorded at amortized cost. Securities not classified as held-to-maturity, including equity securities with readily determinable fair value, are classified as “available-for-sale” and are recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest yield method over the terms of the securities. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. The Bank does not hold securities for trading purposes. | |
To comply with the requirements of FASB ASC Topic 320, formerly Financial Accounting Standards 115 (FAS-115) and applicable regulatory requirements, at the time of purchase, investment securities will be classified and accounted for as either “Available-for-Sale” or “Held-to-Maturity”. Any transfer of investment securities between the “Available-for-Sale” and “Held-to-Maturity” classifications must have the prior written approval of the Board of Directors. The memorandum requesting the Board for approval for such transfer must provide the specific business reason for such transfer, the potential financial implications, and the potential effects of “tainting” the portfolio as a whole as outlined in FASB ASC Topic 320. | |
Declines in the fair value of securities below their cost that are other than temporary are reflected in earnings as realized losses. In determining other-than-temporary losses, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment, and is based on the information available to management at the time such a determination is made. | |
Federal Home Loan Bank Stock | |
The Bank is required to hold non-marketable equity securities, comprised of Federal Home Loan Bank of Seattle (“FHLB”) stock, as a condition of membership. These securities are accounted for at cost, which equals par or redemption value. Ownership is restricted and there is no market for these securities. These securities are redeemable at par by the issuing government supported institutions. The primary factor supporting the carrying value is the commitment of the FHLB to perform its obligations, which includes providing credit and other services to the Bank. | |
Mortgage Servicing Rights (MSR) | |
Mortgage servicing assets, included in other assets in the consolidated statements of financial condition, are recognized separately when rights are acquired through the sale of mortgage loans. Under the servicing assets and liabilities accounting guidance in ASC Topic 860, “Transfers and Servicing”, servicing rights resulting from the sale of loans originated by the Bank are measured at fair value at the date of transfer. The Bank subsequently measures each class of servicing assets using fair value. Under the fair value method, the servicing rights are carried in the statements of financial condition at fair value and the changes in fair value are reported in earnings in the period in which the changes occur. Servicing fee income is recorded as fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, and are recorded as income when earned. | |
Loans Held for Investment | |
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances, adjusted for charge-offs, an allowance for loan losses, and any deferred fees or costs on originated loans, as well as unamortized premiums or discounts on purchased loans, except for certain purchased loans that fall under the scope of ASC Topic 310-30, “Accounting for Loans and Debt Securities Acquired with Deteriorated Credit Quality” (ASC 310-30). | |
Interest income is accrued on the unpaid principal balance of loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized as income using the effective interest method over the contractual life of the loans. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Credit card loans and other unsecured consumer loans are typically charged off no later than 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. | |
All interest accrued but not collected for loans that are placed on non-accrual or charged off are reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
The Bank evaluated the portfolio of loans acquired from Wells Fargo Financial in December 2011 (the “Wells Portfolio”), and has elected to account for a portion of those loans under ASC 310-30, “Accounting for Loans and Debt Securities Acquired with Deteriorated Credit Quality”. We account for acquired loans under ASC 310-30 when there is evidence of credit deterioration since their origination and it is probable at the date of acquisition that we would be unable to collect all contractually required payments. The Wells Portfolio loans were recorded at their estimated fair value at the time of acquisition. Fair value of acquired loans was determined using a discounted cash flow model based on assumptions about the amount and timing of principal and interest payments, estimated prepayments, estimated default rates, estimated loss severity in the event of defaults, and current market rates. Estimated credit losses were included in the determination of fair value; therefore, an allowance for loan losses was not recorded on the acquisition date. | |
The carrying value of the Wells Portfolio is reduced by payments received and increased by the portion of the accretable yield recognized as interest income. These loans were acquired with a loss-sharing arrangement. If the Bank has credit losses, net of recoveries, of greater than 0.50% of the remaining portfolio in any given year, Wells Fargo Financial will cover those net losses in an amount up to $320 thousand per year for five years. | |
Loan Origination Fees and Costs | |
All loan origination fees and related direct costs are deferred and amortized to interest income as an adjustment to yield over the respective lives of the loans using the effective interest method, except for loans that are revolving or short-term in nature for which the straight line method is used, which approximates the interest method. | |
Allowance for Loan Losses | |
The allowance for loan losses is established as losses are estimated to be likely, and is funded through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and real estate loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loans’ obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bank does not separately identify individual consumer loans for impairment disclosures. | |
Loans Held for Sale | |
In its normal course of business, the Bank originates mortgage loans held for sale to the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”). The Bank has elected to measure its residential mortgage loans held for sale at the lower of cost or market. Origination fees and costs are recognized in earnings at the time of origination for newly originated loans held for sale, and the loans are sold to Freddie Mac at par, so there is never a gain or loss reported in earnings. | |
During the years ended December 31, 2013, 2012 and 2011, the Bank originated and sold approximately $31.5 million, $31.4 million and $28.1 million, respectively, of the above mentioned loans. | |
Off-Balance Sheet Financial Instruments | |
In the ordinary course of business, the Bank has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded as off-balance sheet items when the commitment is made, then recorded as balance sheet items if and when they are funded. (See Note 16) | |
Premises and Equipment | |
Premises and equipment are reported at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Depreciation expense has been computed principally using estimated lives of 15 to 40 years for premises and 5 to 10 years for furniture and equipment. Leasehold improvements are depreciated over the estimated lives of the assets or the expected terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. | |
Construction-in-progress consists of accumulated direct and indirect costs associated with the Bank’s construction of premises and the purchase of equipment that has not yet been placed in service and, accordingly, has not yet been subjected to depreciation. Such assets begin depreciation over their estimated useful lives when completed and placed in service. | |
Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than their carrying amount. In that event, the Bank records a loss for the difference between the carrying amount and the estimated fair value of the asset based on quoted prices. | |
Other Real Estate Owned | |
Properties acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, reduced by estimated selling costs. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the estimated cost to sell. Other real estate owned is estimated using the appraised value of the underlying collateral, discounted as necessary due to management’s estimates of changes in economic conditions, less estimated costs to sell. A valuation allowance is increased by provisions charged to earnings. Subsequent write-downs, income and expenses incurred in connection with holding such assets, and gains and losses realized from the sale of such assets, are charged to the valuation allowance. | |
Goodwill | |
Goodwill is deemed to have an indefinite life, and is not amortized but is evaluated at least annually for impairment in accordance with ASC Topic 350, “Intangibles – Goodwill and Other”. Based upon the Company’s most recent evaluation, there are no indicators of impairment. | |
Treasury Stock | |
Common stock shares repurchased are recorded as treasury stock at cost. | |
Income Taxes | |
Income taxes represent taxes recognized under laws of the Government of Guam, which generally conform to U.S. income tax laws. Foreign income taxes result from payments of taxes with effective rates ranging from 2% to 5% of gross income in the FSM, the RMI and the ROP to their respective government jurisdictions. U.S. Federal, California and the Commonwealth of the Northern Mariana Islands income taxes are reflected as foreign taxes for financial reporting purposes. | |
The Company accounts for income taxes in accordance with income tax accounting guidance ASC Topic 740, “Income Taxes”. | |
The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid for the period by applying the provisions of the enacted tax law to the taxable income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. | |
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term, “more likely than not,” means a likelihood of more than 50 percent; the terms, “examined,” and, “upon examination,” also include resolution of related appeals or litigation processes, if any. | |
A tax position that meets the “more likely than not” recognition threshold is initially and subsequently measured as the largest amount of which the tax authority has full knowledge of all relevant information. The determination of whether or not a tax position has met the “more likely than not” recognition threshold considers the facts, circumstances, and information available at the reporting date, and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |
The Company recognizes interest and penalties on income taxes as a component of income tax expense. | |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive income, including unrealized gains and losses on securities available-for-sale, which are also recognized as separate components of equity. | |
Earnings Per Common Share | |
Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may have been issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method. | |
Fair Value of Financial Instruments/Fair Value Option | |
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 19. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect these estimates. In addition, the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments and written loan commitments not previously carried at fair value. The Company and the Bank have elected the fair value option for its mortgage servicing rights originated subsequent to 2005. The election was made to better reflect the underlying economics and to mitigate operational complexities in risk management activities. | |
Transfers of Financial Assets | |
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when, (i) the assets have been isolated from the Bank – put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | |
Contingencies | |
From time to time, the Company may become involved in disputes, litigation and other legal actions. In such event, the Company estimates the range of liability related to pending litigation where the amount and range of loss can be estimated and information available prior to the issuance of financial statements indicates such loss is considered probable. Where a liability is probable and there is a range of estimated loss with no best estimate in the range, the Company records a charge equal to at least the minimum amount in the range. | |
Subsequent Events | |
Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the financial statements. The Company’s financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before financial statements are available to be issued. | |
The Company has evaluated events subsequent to December 31, 2013, through the date that these consolidated financial statements are being filed with the Securities and Exchange Commission. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Note 3 – Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income”, which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective lines in the entity’s net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on our consolidated financial condition or results of operations. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”, which amended its guidance on income taxes to eliminate diversity in the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments clarify whether unrecognized tax benefits should be presented as a liability on the balance sheet or as a reduction of a deferred tax asset. This guidance is effective for interim and annual periods beginning after December 15, 2013. Early adoption is permitted. We plan to adopt this guidance on January 1, 2014, and do not expect that it will have a material impact on our financial statement presentation. |
InterestBearing_Deposits_and_R
Interest-Bearing Deposits and Restricted Cash | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Interest-Bearing Deposits and Restricted Cash | ' |
Note 4 – Interest-Bearing Deposits and Restricted Cash | |
At December 31, 2013, the Company had $64.8 million in interest bearing deposits at other financial institutions, as compared to $32.8 million at December 31, 2012. The weighted average percentage yields on these deposits were 0.25% and 0.41% at December 31, 2013 and 2012, respectively. Interest bearing deposits with financial institutions can be withdrawn by the Bank on demand, and are considered cash equivalents for purposes of the consolidated statements of cash flows. | |
At December 31, 2013 and 2012, we had $400 thousand and $150 thousand of restricted cash, respectively, held in time deposits that were scheduled to mature within one year, respectively. These deposits are held jointly under the names of Bank of Guam and the Guam Insurance Commissioner, and serve as a bond for the Bank of Guam Trust Department. These amounts are included in the interest-bearing deposits in the preceding paragraph. The weighted average percentage yields on these restricted cash deposits were 0.37% and 0.32% at December 31, 2013 and 2012, respectively. |
Investment_Securities
Investment Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Schedule [Abstract] | ' | ||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||
Note 5 – Investment Securities | |||||||||||||||||||||||||
The amortized cost and fair value of investment securities, with gross unrealized gains and losses, was as follows: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 54,733 | $ | 122 | $ | (563 | ) | $ | 54,292 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 130,411 | 112 | (1,983 | ) | 128,540 | ||||||||||||||||||||
Total | $ | 185,144 | $ | 234 | $ | (2,546 | ) | $ | 182,832 | ||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 32,824 | $ | 0 | $ | (515 | ) | $ | 32,309 | ||||||||||||||||
U.S. government agency pool securities | 1,641 | 24 | (12 | ) | 1,653 | ||||||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 54,524 | 920 | (586 | ) | 54,858 | ||||||||||||||||||||
Total | $ | 88,989 | $ | 944 | $ | (1,113 | ) | $ | 88,820 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 59,923 | $ | 360 | $ | (138 | ) | $ | 60,145 | ||||||||||||||||
U.S. government agency pool securities | 73,663 | 275 | (140 | ) | 73,798 | ||||||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 137,282 | 2,449 | (152 | ) | 139,579 | ||||||||||||||||||||
Total | $ | 270,868 | $ | 3,084 | $ | (430 | ) | $ | 273,522 | ||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 1,966 | $ | 45 | $ | (3 | ) | $ | 2,008 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 56,159 | 2,054 | 0 | 58,213 | |||||||||||||||||||||
Total | $ | 58,125 | $ | 2,099 | $ | (3 | ) | $ | 60,221 | ||||||||||||||||
At December 31, 2013 and 2012, investment securities with a carrying value of $170,468 and $142,300, respectively, were pledged to secure various government deposits and other government requirements. | |||||||||||||||||||||||||
The amortized cost and fair value of investment securities by contractual maturity at December 31, 2013 and 2012, are shown below. Securities not due at a single maturity date, such as agency pool securities and mortgage-backed securities, are shown separately. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
Due after one but within five years | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Due after five years | 0 | 0 | 32,824 | 32,309 | |||||||||||||||||||||
U.S. Government agency pool securities | 54,733 | 54,292 | 1,641 | 1,653 | |||||||||||||||||||||
Mortgage-backed securities | 130,411 | 128,540 | 54,524 | 54,858 | |||||||||||||||||||||
Total | $ | 185,144 | $ | 182,832 | $ | 88,989 | $ | 88,820 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
Due after one but within five years | $ | 4,997 | $ | 5,035 | $ | 0 | $ | 0 | |||||||||||||||||
Due after five years | 54,926 | 55,110 | 0 | 0 | |||||||||||||||||||||
U.S. Government agency pool securities | 73,663 | 73,798 | 1,966 | 2,008 | |||||||||||||||||||||
Mortgage-backed securities | 137,282 | 139,579 | 56,159 | 58,213 | |||||||||||||||||||||
Total | $ | 270,868 | $ | 273,522 | $ | 58,125 | $ | 60,221 | |||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, proceeds from sales of available-for-sale securities amounted to $131,983, $141,379 and $219,457, respectively; gross realized gains were $916, $1,332 and $1,574, and gross realized losses were $288, $47 and $232 respectively; gross unrealized gains were $234, $3,084 and $1,387, and gross unrealized losses were $2,546, $430and $200, respectively. | |||||||||||||||||||||||||
On August 26, 2013, and in accordance with Bank policy and FASB ASC Topic 320, the Board of Directors approved the transfer of ten securities with a total book value of $49 million from our Available-for-Sale (AFS) portfolio to our Held-to-Maturity (HTM) portfolio. These transactions were completed in August 31, 2013. The ten securities transferred from AFS to HTM were comprised of the following: seven Federal National Mortgage Association (FNMA) one-time callable bonds, and three FNMA Delegated Underwriting and Servicing (DUS) bonds. | |||||||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||
The following table shows the gross unrealized losses and fair value of the Bank’s investments, with unrealized losses that are not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013 and 2012. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | More Than Twelve Months | Total | |||||||||||||||||||||||
Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | ||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. government agency pool securities | (505 | ) | 42,298 | (58 | ) | 4,843 | (563 | ) | 47,141 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | (1,957 | ) | 108,637 | (26 | ) | 5,606 | (1,983 | ) | 114,243 | ||||||||||||||||
Total | $ | (2,462 | ) | $ | 150,935 | $ | (84 | ) | $ | 10,449 | $ | (2,546 | ) | $ | 161,384 | ||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | (515 | ) | $ | 32,309 | $ | 0 | $ | 0 | $ | (515 | ) | $ | 32,309 | |||||||||||
U.S. government agency pool securities | $ | (8 | ) | $ | 304 | $ | (4 | ) | $ | 284 | $ | (12 | ) | $ | 588 | ||||||||||
U.S. government agency or GSE mortgage-backed securities | (586 | ) | 18,770 | 0 | 0 | (586 | ) | 18,770 | |||||||||||||||||
Total | $ | (1,109 | ) | $ | 51,383 | $ | (4 | ) | $ | 284 | $ | (1,113 | ) | $ | 51,667 | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less Than Twelve Months | More Than Twelve Months | Total | |||||||||||||||||||||||
Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | ||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | (138 | ) | $ | 29,836 | $ | 0 | $ | 0 | $ | (138 | ) | $ | 29,836 | |||||||||||
U.S. government agency pool securities | (139 | ) | 29,921 | (1 | ) | 76 | (140 | ) | 29,997 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | (136 | ) | 25,420 | (16 | ) | 3,216 | (152 | ) | 28,636 | ||||||||||||||||
Total | $ | (413 | ) | $ | 85,177 | $ | (17 | ) | $ | 3,292 | $ | (430 | ) | $ | 88,469 | ||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 0 | $ | 29 | $ | (3 | ) | $ | 302 | $ | (3 | ) | $ | 331 | |||||||||||
U.S. government agency or GSE mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total | $ | 0 | $ | 29 | $ | (3 | ) | $ | 302 | $ | (3 | ) | $ | 331 | |||||||||||
The Bank does not believe that the investment securities that were in an unrealized loss position as of December 31, 2013, which comprised a total of 61 securities, were other than temporarily impaired. Specifically, the 61 securities are comprised of the following: 17 Small Business Administration (SBA) Pool securities, 12 mortgage-backed securities issued by Federal National Mortgage Association (FNMA), 6 mortgage-backed security issued by Federal Home Loan Mortgage Corporation (FHLMC), 19 mortgage-backed securities issued by Government National Mortgage Association (GNMA), and 7 U.S. Government Agency securities issued by FNMA. | |||||||||||||||||||||||||
Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Bank does not intend to sell the investment securities that were in an unrealized loss position and it is not likely that the Bank will be required to sell the investment securities before recovery of their amortized cost bases, which may be at maturity. |
Loans
Loans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||
Note 6 – Loans | |||||||||||||||||||||||||
The Bank provides commercial and industrial, commercial mortgage, commercial construction, automobile and other consumer loans in each of the markets it serves. It also offers residential mortgage, home equity and certain U.S. government guaranteed loans in Guam, the Northern Mariana Islands and California. | |||||||||||||||||||||||||
Outstanding loan balances are presented net of unearned income, net deferred loan fees, and unamortized discount and premium totaling $2,213 at December 31, 2013. Loans subject to ASC 310-30 are presented net of the related accretable yield and nonaccretable difference. | |||||||||||||||||||||||||
The loan portfolio consisted of the following at: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 183,364 | 21 | % | $ | 138,951 | 18.2 | % | |||||||||||||||||
Commercial mortgage | 380,454 | 43.4 | % | 314,462 | 41.2 | % | |||||||||||||||||||
Commercial construction | 697 | 0.1 | % | 3,908 | 0.5 | % | |||||||||||||||||||
Total commercial | 564,515 | 64.5 | % | 457,321 | 59.9 | % | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 152,757 | 17.5 | % | 164,774 | 21.6 | % | |||||||||||||||||||
Home equity | 1,039 | 0.1 | % | 1,211 | 0.2 | % | |||||||||||||||||||
Automobile | 7,269 | 0.8 | % | 8,227 | 1.1 | % | |||||||||||||||||||
Other consumer loans1 | 149,593 | 17.1 | % | 131,412 | 17.2 | % | |||||||||||||||||||
Total consumer | 310,658 | 35.5 | % | 305,624 | 40.1 | % | |||||||||||||||||||
Gross loans | 875,173 | 100 | % | 762,945 | 100 | % | |||||||||||||||||||
Deferred fee (income) costs, net | (2,213 | ) | (1,885 | ) | |||||||||||||||||||||
Allowance for loan losses | (12,077 | ) | (12,228 | ) | |||||||||||||||||||||
Loans, net | $ | 860,883 | $ | 748,832 | |||||||||||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
At December 31, 2013, total gross loans increased by $112.2 million, to $875.2 million, up from $762.9 million at December 31, 2012. The growth in loans was largely attributed to (i) a $66.0 million increase in commercial mortgage loans, to $380.5 million from $314.5 million, due primarily to an increase in commercial real estate (CRE) loans, predominantly from the California region, (ii) a $44.4 million increase in the commercial and industrial loan category, to $183.4 million from $139.0 million, and (iii) an increase of $18.2 million in the other consumer loan category, to $149.6 million from $131.4 million, primarily due to consumer loan promotions. These were partially offset by (i) a $3.2 million decrease in commercial construction loans, to $697 thousand from $3.9 million, (ii) a $12.0 million decrease in residential mortgage loans, to $152.8 million from $164.8 million, due primarily to paydowns of these loans in the normal course of business, (iii) a reduction of $958 thousand in automobile loans, to $7.3 million from $8.2 million, and (iv) a $172 thousand decline in home equity loans, to $1.0 million from $1.2 million. | |||||||||||||||||||||||||
Certain loans acquired in the acquisition of a portfolio of loans from Wells Fargo in December 2011 are subject to ASC 310-30 (formerly SOP 03-3 (see Note 1)). These include loans for which it is probable that we will not collect all contractual principal and interest. Loans within the scope of ASC 310-30 are initially recorded at fair value, and no allowance is carried over or initially recorded. A summary of the major categories of loans outstanding acquired from Wells Fargo showing those subject to ASC 310-30 is presented in the following table. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
ASC 310-30 | All other | Total loans | |||||||||||||||||||||||
loans | |||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Residential mortgage | $ | 0 | $ | 77,168 | $ | 77,168 | |||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer loans | 478 | 0 | 478 | ||||||||||||||||||||||
Total consumer | 478 | 77,168 | 77,646 | ||||||||||||||||||||||
Gross loans | 478 | 77,168 | 77,646 | ||||||||||||||||||||||
Deferred fee (income) costs, net | (0 | ) | (1 | ) | (1 | ) | |||||||||||||||||||
Allowance for loan losses | (0 | ) | (497 | ) | (497 | ) | |||||||||||||||||||
Total loans | $ | 478 | $ | 76,670 | $ | 77,148 | |||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||
The allowance for loan losses is evaluated on a regular basis by management, and is based upon management’s periodic review of the collectability of loans in light of historical experience, the nature of volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. | |||||||||||||||||||||||||
The allowance for loan losses is first determined by analyzing all classified loans (Substandard and Doubtful) in non-accrual for loss exposure and establishing specific reserves, as needed. ASC 310-10 defines loan impairment as the existence of uncertainty concerning collection of all principal and interest per the contractual terms of a loan. For collateral-dependent loans, impairment is typically measured by comparing the loan amount to the fair value of collateral, less costs to sell, with a specific reserve established for the “shortfall” amount. Other methods can be used in estimating impairment (market price or present value of expected future cash flows discounted at the loan’s original interest rate). | |||||||||||||||||||||||||
The portion of the allowance that covers unimpaired loans is based on historical charge-off experience and expected loss, given the default probability derived from the Bank’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. | |||||||||||||||||||||||||
Our loss migration analysis tracks a certain number of quarters of loan loss history and industry loss factors to determine historical losses by classification category for each loan type, except certain consumer loans. These calculated loss factors are then applied to outstanding loan balances for all loans on accrual designated as “Pass,” “Special Mention,” “Substandard” or “Doubtful” (“classification categories”). Additionally, a qualitative factor that is determined utilizing external economic factors and internal assessments is applied to each homogeneous loan pool. We also conduct individual loan review analyses, as part of the allowance for loan loss allowance allocation process, applying specific monitoring policies and procedures in analyzing the existing loan portfolios. | |||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||
The Bank uses several credit quality indicators to manage credit risk, including an internal credit risk rating system that categorizes loans and leases into pass, special mention, substandard, doubtful or loss categories. Credit risk ratings are applied individually to those classes of loans and leases that have significant or unique credit characteristics and that benefit from a case-by-case evaluation. These are typically loans and leases to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans and leases 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 and leases to individuals in the classes which comprise the consumer portfolio segment. | |||||||||||||||||||||||||
The following are the definitions of the Bank’s credit quality indicators: | |||||||||||||||||||||||||
Pass (A): Exceptional: Essentially risk-free credit. These are loans of the highest quality that pose virtually no risk of loss to the Bank. This includes loans fully collateralized by means of a savings account(s) and time certificate(s) of deposit, and by at least 110% of the loan amount. Borrowers should have strong financial statements, good liquidity and excellent credit. | |||||||||||||||||||||||||
Pass (B): Standard: Multiple “strong sources of repayment.” Loans to strong borrowers with a demonstrated history of financial and managerial performance. Risk of loss is considered to be low. Loans are well structured, with clearly identified primary and readily available secondary sources of repayment. Loans maybe secured by an equal amount of funds in a savings account or time certificate of deposit. Loans may be secured by marketable collateral whose value can be reasonably determined through outside appraisals. Very strong cash flow and relatively low leverage. | |||||||||||||||||||||||||
Pass (C): Acceptable: “Good” primary and secondary sources of repayment. Loans to borrowers of average financial strength, stability and management expertise. Borrower should be a well-established individual or company with adequate financial resources to weather short-term fluctuations in the marketplace. Financial ratios and trends are favorable. The loans may be unsecured or supported by non-real estate collateral for which the value is more difficult to determine, reasonable credit risk and requiring an average amount of account officer attention. Unsecured credit is to be of unquestionable strength. | |||||||||||||||||||||||||
Pass (D): Monitor: “Sufficient” primary source of repayment and acceptable secondary source of repayment. Acceptable business or individual credit, but the borrower’s operations, cash flow or financial conditions evince moderate to average levels of risk. Loans are considered to be collectable in full, but may require a greater-than-average amount of loan officer attention. Borrowers are capable of absorbing normal setbacks without failure. | |||||||||||||||||||||||||
Special Mention: A special mention asset has potential weaknesses that deserve close monitoring. These potential weaknesses may result in a deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Special Mention should neither be a compromise between a pass grade and substandard, nor should it be a “catch all” grade to identify any loan that has a policy exception. | |||||||||||||||||||||||||
Substandard: A substandard asset is inadequately protected by the current sound worth and payment capacity of the obligor or the collateral pledged. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Assets are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||
Formula Classified: Formula classified loans are all loans and credit cards delinquent 90 days and over which have yet to be formally classified Special Mention, Substandard or Doubtful by the Bank’s Loan Committee. In most instances, the monthly formula total is comprised primarily of real estate and consumer loans and credit cards. Commercial loans are typically formally classified by the Loan Committee no later than their 90-day delinquency, and thus do not become part of the formula classification. Real estate loans 90-days delinquent are in the foreclosure process and are typically completed within another 60 days, and thus are not formally classified during this period. | |||||||||||||||||||||||||
Doubtful: A loan with weaknesses well enough defined that eventual repayment in full, on the basis of currently existing facts, conditions and values, is highly questionable, even though certain factors may be present which could improve the status of the loan. The probability of some loss is extremely high, but because of certain known factors, which may work to the advantage of strengthening of the assets (i.e. capital injection, perfecting liens on additional collateral, refinancing plans, etc.), its classification as an estimated loss is deferred until its more exact status can be determined. | |||||||||||||||||||||||||
Loss: Loans classified as “Loss” are considered uncollectible, and are either unsecured or are supported by collateral that is of little to no value. As such, their continuance as recorded assets is not warranted. While this classification does not mandate that a loan has no ultimate recovery value, losses should be taken in the period these loans are deemed to be uncollectible. Loans identified as loss are immediately approved for charge off. The Bank may refer loans to outside collection agencies, attorneys, or its internal collection division to continue collection efforts. Any subsequent recoveries are credited to the Allowance for Loan Losses. | |||||||||||||||||||||||||
Set forth below is a summary of the Company’s activity in the allowance for loan losses during the years ended: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 12,228 | $ | 11,101 | $ | 9,408 | |||||||||||||||||||
Provision for loan losses | 2,095 | 3,900 | 4,617 | ||||||||||||||||||||||
Recoveries on loans previously charged off | 1,814 | 3,294 | 1,596 | ||||||||||||||||||||||
Charged off loans | (4,060 | ) | (6,067 | ) | (4,520 | ) | |||||||||||||||||||
Balance, end of period | $ | 12,077 | $ | 12,228 | $ | 11,101 | |||||||||||||||||||
The allowance for loan losses for the year ended December 31, 2013, was reduced by $151 thousand from the allowance for loan losses at the end of 2012, based on the Bank’s allowance for loan loss methodology. The decrease in the allowance is primarily due to the improvements in the quality of the overall loan portfolio. As a result of these improvements, including a reduction in classified loans and a decline in delinquency rates, along with management’s reassessment of economic conditions and prospects, the Bank reversed $1.7 million from the allowance in the second quarter of 2013. The allowance for loan losses will change in the future in response to changes in the size, composition and quality of the loan portfolio, as well as periodic reassessments of prospective economic conditions. | |||||||||||||||||||||||||
Set forth below is information regarding gross loan balances and the related allowance for loan losses, by portfolio type, for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||
Mortgages | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Balance at beginning of year | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Charge-offs | (470 | ) | (168 | ) | (3,422 | ) | (4,060 | ) | |||||||||||||||||
Recoveries | 116 | 143 | 1,555 | 1,814 | |||||||||||||||||||||
Provision | 90 | (506 | ) | 2,511 | 2,095 | ||||||||||||||||||||
Balance at end of year | $ | 5,987 | $ | 922 | $ | 5,168 | $ | 12,077 | |||||||||||||||||
Allowance balance at end of year related to: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Loans collectively evaluated for impairment | $ | 5,987 | $ | 922 | $ | 5,168 | $ | 12,077 | |||||||||||||||||
Loan balances at end of year: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 10,239 | $ | 6,412 | $ | 195 | $ | 16,846 | |||||||||||||||||
Loans collectively evaluated for impairment | 554,276 | 147,384 | 156,667 | 858,327 | |||||||||||||||||||||
Ending Balance | $ | 564,515 | $ | 153,796 | $ | 156,862 | $ | 875,173 | |||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Balance at beginning of year | $ | 6,654 | $ | 318 | $ | 4,129 | $ | 11,101 | |||||||||||||||||
Charge-offs | (1,320 | ) | (68 | ) | (4,679 | ) | (6,067 | ) | |||||||||||||||||
Recoveries | 159 | 3 | 3,132 | 3,294 | |||||||||||||||||||||
Provision | 758 | 1,200 | 1,942 | 3,900 | |||||||||||||||||||||
Balance at end of year | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Allowance balance at end of year related to: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Loans collectively evaluated for impairment | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Loan balances at end of year: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 9,367 | $ | 7,242 | $ | 234 | $ | 16,843 | |||||||||||||||||
Loans collectively evaluated for impairment | 447,954 | 158,743 | 139,405 | 746,102 | |||||||||||||||||||||
Ending Balance | $ | 457,321 | $ | 165,985 | $ | 139,639 | $ | 762,945 | |||||||||||||||||
Impairment is measured on a loan-by-loan basis for commercial and real estate loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral (if the loan is collateral dependent). Large groups of smaller-balance homogeneous loans are collectively evaluated for impairment. The Bank performs direct write-downs of impaired loans with a charge to the allocated component of the allowance, therefore reducing the allocated component of the reserve to zero at the end of each reporting period. | |||||||||||||||||||||||||
The following table provides a summary of the delinquency status of the Bank’s gross loans by portfolio type: | |||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Current | Total Loans | ||||||||||||||||||||
Past Due | Past Due | Greater | Due | Outstanding | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 159 | $ | 191 | $ | 217 | $ | 567 | $ | 182,797 | $ | 183,364 | |||||||||||||
Commercial mortgage | 201 | 771 | 4,659 | 5,631 | 374,823 | 380,454 | |||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | 697 | 697 | |||||||||||||||||||
Total commercial | 360 | 962 | 4,876 | 6,198 | 558,317 | 564,515 | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 10,663 | 4,742 | 3,887 | 19,292 | 133,465 | 152,757 | |||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | 1,039 | 1,039 | |||||||||||||||||||
Automobile | 178 | 13 | 13 | 204 | 7,065 | 7,269 | |||||||||||||||||||
Other consumer1 | 2,143 | 1,215 | 993 | 4,351 | 145,242 | 149,593 | |||||||||||||||||||
Total consumer | 12,984 | 5,970 | 4,893 | 23,847 | 286,811 | 310,658 | |||||||||||||||||||
Total | $ | 13,344 | $ | 6,932 | $ | 9,769 | $ | 30,045 | $ | 845,128 | $ | 875,173 | |||||||||||||
2012 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 65 | $ | 222 | $ | 521 | $ | 808 | $ | 138,143 | $ | 138,951 | |||||||||||||
Commercial mortgage | 2,050 | 1,403 | 5,963 | 9,416 | 305,046 | 314,462 | |||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | 3,908 | 3,908 | |||||||||||||||||||
Total commercial | 2,115 | 1,625 | 6,484 | 10,224 | 447,097 | 457,321 | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 8,705 | 4,513 | 5,190 | 18,408 | 146,366 | 164,774 | |||||||||||||||||||
Home equity | 0 | 135 | 0 | 135 | 1,076 | 1,211 | |||||||||||||||||||
Automobile | 314 | 76 | 0 | 390 | 7,837 | 8,227 | |||||||||||||||||||
Other consumer 1 | 2,389 | 948 | 1,187 | 4,524 | 126,888 | 131,412 | |||||||||||||||||||
Total consumer | 11,408 | 5,672 | 6,377 | 23,457 | 282,167 | 305,624 | |||||||||||||||||||
Total | $ | 13,523 | $ | 7,297 | $ | 12,861 | $ | 33,681 | $ | 729,264 | $ | 762,945 | |||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
The Bank’s outstanding loan balances have increased by $112.2 million over the past year and the delinquency rate of 3.4% at December 31, 2013, was 1.0% lower than the rate at December 31, 2012. The primary reason for the decrease was a $3.8 million decline in commercial mortgage delinquencies, and was partially offset by an $749 thousand increase in residential mortgage delinquencies. | |||||||||||||||||||||||||
Generally, the accrual of interest on a loan is discontinued when principal or interest payments become more than 90 days past due, unless management believes the loan is adequately collateralized and it is in the process of collection. When a loan is placed on non-accrual status, previously accrued but unpaid interest is reversed against current income. Subsequent collections of cash are applied as principal reductions when received, except when the ultimate collectability of principal is probable, in which case interest payments are credited to income. Non-accrual loans may be restored to accrual status when principal and interest become current and full repayment is expected. The following table provides information as of December 31, 2013 and 2012, with respect to loans on non-accrual status, by portfolio type: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 343 | $ | 685 | |||||||||||||||||||||
Commercial mortgage | 6,344 | 7,977 | |||||||||||||||||||||||
Commercial construction | 0 | 0 | |||||||||||||||||||||||
Total commercial | 6,687 | 8,662 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 6,351 | 7,166 | |||||||||||||||||||||||
Home equity | 62 | 76 | |||||||||||||||||||||||
Automobile | 0 | 0 | |||||||||||||||||||||||
Other consumer1 | 195 | 234 | |||||||||||||||||||||||
Total consumer | 6,608 | 7,476 | |||||||||||||||||||||||
Total non-accrual loans | $ | 13,295 | $ | 16,138 | |||||||||||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
The Company classifies its loan portfolios using internal credit quality ratings, as discussed above under Allowance for Loan Losses. The following table provides a summary of loans by portfolio type and the Company’s internal credit quality ratings as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | Increase (Decrease) | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass: | |||||||||||||||||||||||||
Commercial & industrial | $ | 170,388 | $ | 123,046 | $ | 47,342 | |||||||||||||||||||
Commercial mortgage | 349,906 | 290,307 | 59,599 | ||||||||||||||||||||||
Commercial construction | 697 | 3,908 | (3,211 | ) | |||||||||||||||||||||
Residential mortgage | 148,825 | 158,408 | (9,583 | ) | |||||||||||||||||||||
Home equity | 1,039 | 1,211 | (172 | ) | |||||||||||||||||||||
Automobile | 7,256 | 8,227 | (971 | ) | |||||||||||||||||||||
Other consumer | 148,757 | 130,345 | 18,412 | ||||||||||||||||||||||
Total pass loans | $ | 826,868 | $ | 715,452 | $ | 111,416 | |||||||||||||||||||
Special Mention: | |||||||||||||||||||||||||
Commercial & industrial | $ | 9,571 | $ | 3,752 | $ | 5,819 | |||||||||||||||||||
Commercial mortgage | 20,850 | 6,839 | 14,011 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 0 | 0 | ||||||||||||||||||||||
Total special mention loans | $ | 30,421 | $ | 10,591 | $ | 19,830 | |||||||||||||||||||
Substandard: | |||||||||||||||||||||||||
Commercial & industrial | $ | 3,360 | $ | 12,153 | $ | (8,793 | ) | ||||||||||||||||||
Commercial mortgage | 9,384 | 17,316 | (7,932 | ) | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 76 | 370 | (294 | ) | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 26 | (26 | ) | |||||||||||||||||||||
Total substandard loans | $ | 12,820 | $ | 29,865 | $ | (17,045 | ) | ||||||||||||||||||
Formula Classified: | |||||||||||||||||||||||||
Commercial & industrial | $ | 45 | $ | 0 | $ | 45 | |||||||||||||||||||
Commercial mortgage | 314 | 0 | 314 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 3,856 | 5,996 | (2,140 | ) | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 13 | 0 | 13 | ||||||||||||||||||||||
Other consumer | 836 | 1,041 | (205 | ) | |||||||||||||||||||||
Total formula classified loans | $ | 5,064 | $ | 7,037 | $ | (1,973 | ) | ||||||||||||||||||
Doubtful: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 0 | 0 | ||||||||||||||||||||||
Total doubtful loans | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||||
Total outstanding loans, gross | $ | 875,173 | $ | 762,945 | $ | 112,228 | |||||||||||||||||||
As the above table indicates, the Company’s total loans approximated $875.2 million at December 31, 2013, up from $762.9 million at December 31, 2012. The disaggregation of the portfolio by risk rating in the table reflects the following changes between December 31, 2012 and December 31, 2013: | |||||||||||||||||||||||||
• | Loans rated “pass” totaled $826.9 million at December 31, 2013, up from $715.5 million at December 31, 2012, due primarily to the increase of $59.6 million in commercial mortgages and an increase of $47.3 million in commercial & industrial loans. This increase is due to various large loans originated in the California region and in Guam. There was also an increase of $18.4 million in other consumer loans, primarily due to new bookings and promotional programs. These increases were partially offset by a $9.6 million reduction in residential mortgages, which included the downgrade of $2.5 million of loans purchased in 2011 from Wells Fargo Financial to the “formula classified” category. There was also a $3.2 million decrease in commercial construction loans rated as “pass” due to the reclassification of loans that completed construction to commercial mortgage, along with a decrease of $971 thousand in automobile loans due to payoffs and paydowns. | ||||||||||||||||||||||||
• | The “special mention” category was $19.8 million higher at December 31, 2013, than at December 30, 2012. Special mention commercial mortgages increased by $14.0 million, due primarily to a downgrade of a $10.5 million loan relationship from “pass” and upgrade of a $5.0 million relationship from “substandard.” Commercial & industrial loans increased by $5.8 million, due to the upgrade of a $1.8 million relationship from “substandard” and downgrades of existing accounts from the “pass” category. | ||||||||||||||||||||||||
• | Loans classified “substandard” decreased by $17.0 million, to $12.8 million, at December 31, 2013, from $29.9 million at December 31, 2012. The decrease was mainly comprised of the commercial & industrial loan category falling by $8.8, million, due to the upgrade of a $3.0 million loan relationship to the “special mention” category and $6.0 million in payoffs and paydowns. Substandard commercial mortgage loans decreased by $7.9 million, due to the upgrade of a $5.6 million relationship to “special mention” and the upgrade of a $1.2 million relationship to “pass.” | ||||||||||||||||||||||||
• | The “formula classified” category decreased by $2.0 million during the period, resulting primarily from the upgrade of $2.1 million of residential mortgage loans to “pass” and $1.2 million of charge-offs and payoffs, offset by additional loans being transferred into this category during the year. | ||||||||||||||||||||||||
The allowance for loan losses of $12.1 million was appropriate at December 31, 2013, to cover the increase in the size of portfolio, the decrease in delinquencies and moderately improved economic conditions. | |||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. | |||||||||||||||||||||||||
Impaired loans include loans that are in non-accrual status and other loans that have been modified in Troubled Debt Restructurings (TDRs), where economic concessions have been granted to borrowers experiencing financial difficulties. These concessions typically result from the Company’s loss mitigation actions, and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions taken with the intention to maximize collections. | |||||||||||||||||||||||||
The following table sets forth information regarding non-accrual loans and restructured loans, at December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||
Restructured Loans: | |||||||||||||||||||||||||
Non-accruing restructured loans | $ | 5,554 | $ | 5,970 | |||||||||||||||||||||
Accruing restructured loans | 3,551 | 705 | |||||||||||||||||||||||
Total restructured loans | 9,105 | 6,675 | |||||||||||||||||||||||
Other non-accruing impaired loans | 7,741 | 10,168 | |||||||||||||||||||||||
Other accruing impaired loans | 0 | 0 | |||||||||||||||||||||||
Total impaired loans | $ | 16,846 | $ | 16,843 | |||||||||||||||||||||
Impaired loans less than 90 days delinquent and included in total impaired loans | $ | 7,967 | $ | 6,058 | |||||||||||||||||||||
The table below contains additional information with respect to impaired loans, by portfolio type, for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Recorded | Unpaid | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Recorded | Income | ||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
December 31, 2013, With no related allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 3,459 | $ | 3,646 | $ | 3,231 | $ | 14 | |||||||||||||||||
Commercial mortgage | 6,780 | 8,495 | 7,400 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 6,351 | 6,449 | 6,594 | 0 | |||||||||||||||||||||
Home equity | 61 | 61 | 68 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 195 | 204 | 215 | 0 | |||||||||||||||||||||
Total impaired loans with no related allowance | $ | 16,846 | $ | 18,855 | $ | 17,508 | $ | 14 | |||||||||||||||||
December 31, 2013, With an allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
December 31, 2012, With no related allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 822 | $ | 975 | $ | 778 | $ | 29 | |||||||||||||||||
Commercial mortgage | 8,545 | 10,229 | 10,204 | 450 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 925 | 0 | |||||||||||||||||||||
Residential mortgage | 7,166 | 7,264 | 3,313 | 249 | |||||||||||||||||||||
Home equity | 76 | 76 | 33 | 2 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 234 | 243 | 191 | 8 | |||||||||||||||||||||
Total impaired loans with no related allowance | $ | 16,843 | $ | 18,787 | $ | 15,444 | $ | 738 | |||||||||||||||||
December 31, 2012, With an allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Impairment is measured on a loan-by-loan basis for commercial and real estate loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral-dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. The Bank performs direct write-downs of impaired loans with a charge to the allocated component of the allowance, thereby reducing the allocated component of the reserve to zero at the end of each reporting period. | |||||||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
In accordance with FASB’s Accounting Standard Update No. 2011-02, “A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring” (ASU No. 2011-02), the Bank had $9.1 million of troubled debt restructurings (TDRs) as of December 31, 2013. The restructured loans recorded with the Bank represent financing receivables, modified for the purpose of alleviating temporary impairments to the borrower’s financial condition. The modifications that the Bank has extended to borrowers have come in the form of a change in the amortization terms, reduction in the interest rate, interest only payments and, in limited cases, a concession to the outstanding loan balance. The workout plan between the borrower and Bank is designed to provide a bridge for the cash flow shortfalls in the near term. As the borrower works through the near term issues, in most cases, the original contractual terms will be reinstated. | |||||||||||||||||||||||||
At December 31, 2012, the Bank carried $6.7 million of troubled debt restructurings. This increased by $2.4 million, to $9.1 million, by December 31, 2013, due primarily to two additional loans being restructured. | |||||||||||||||||||||||||
Number of | Pre- | Post- | Year Ended | Year Ended | |||||||||||||||||||||
Loans | Modification | Modification | December 31, | December 31, | |||||||||||||||||||||
Outstanding | Outstanding | 2013 | 2012 | ||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
Residential mortgage | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||
Commercial mortgage | 6 | 3,982 | 3,982 | 3,552 | 706 | ||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
Consumer | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
6 | 3,982 | 3,982 | 3,552 | 706 | |||||||||||||||||||||
Nonperforming | |||||||||||||||||||||||||
Residential mortgage | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||
Commercial mortgage | 7 | 10,120 | 8,805 | 5,554 | 5,970 | ||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
Consumer | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
7 | 10,120 | 8,805 | 5,554 | 5,970 | |||||||||||||||||||||
Total Troubled Debt Restructurings (TDRs) | 13 | $ | 14,102 | $ | 12,787 | $ | 9,106 | $ | 6,676 |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||
Premises and Equipment | ' | ||||||||||||
Note 7 – Premises and Equipment | |||||||||||||
A summary of premises and equipment at December 31, 2013 and 2012 follows: | |||||||||||||
December 31, 2013 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Depreciation | Value | ||||||||||||
Buildings | $ | 26,954 | $ | (16,725 | ) | $ | 10,229 | ||||||
Furniture and equipment | 24,807 | (19,404 | ) | 5,403 | |||||||||
Automobiles and mobile facilities | 1,063 | (724 | ) | 339 | |||||||||
Leasehold improvements | 4,317 | (3,076 | ) | 1,241 | |||||||||
57,141 | (39,929 | ) | 17,212 | ||||||||||
Construction in progress | 1,037 | 0 | 1,037 | ||||||||||
$ | 58,178 | $ | (39,929 | ) | $ | 18,249 | |||||||
31-Dec-12 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Depreciation | Value | ||||||||||||
Buildings | $ | 27,742 | $ | (16,448 | ) | $ | 11,294 | ||||||
Furniture and equipment | 24,489 | (20,454 | ) | 4,035 | |||||||||
Automobiles and mobile facilities | 1,056 | (906 | ) | 150 | |||||||||
Leasehold improvements | 4,402 | (2,936 | ) | 1,466 | |||||||||
57,689 | (40,744 | ) | 16,945 | ||||||||||
Construction in progress | 767 | 0 | 767 | ||||||||||
$ | 58,456 | $ | (40,744 | ) | $ | 17,712 | |||||||
For the years ended December 31, 2013, 2012 and 2011, depreciation and amortization expense was $3,101, $3,037 and $2,864, respectively. |
Other_Assets
Other Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Other Assets | ' | ||||||||
Note 8 – Other Assets | |||||||||
A summary of other assets at December 31, 2013 and 2012 follows: | |||||||||
2013 | 2012 | ||||||||
Bank Owned Life Insurance | $ | 10,974 | $ | 10,635 | |||||
Prepaid income tax | 409 | 4,175 | |||||||
Prepaid expenses | 4,536 | 4,311 | |||||||
Prepaid FDIC assessments | 0 | 2,455 | |||||||
Other real estate owned, net (Note 9) | 4,610 | 4,384 | |||||||
Deferred tax asset, net (Note 13) | 5,603 | 3,741 | |||||||
Mortgage servicing rights | 1,354 | 1,285 | |||||||
Other | 692 | 1,324 | |||||||
$ | 28,178 | $ | 32,310 | ||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Other Real Estate Owned | ' | ||||||||||||
Note 9 – Other Real Estate Owned | |||||||||||||
Other real estate owned is presented net of an allowance for losses. A summary of the changes in other real estate owned is as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Balance at beginning of year | $ | 4,384 | $ | 4,294 | |||||||||
Additions | 2,193 | 807 | |||||||||||
Sales | (896 | ) | (585 | ) | |||||||||
5,681 | 4,516 | ||||||||||||
Write-downs and loss on sale, net | (1,086 | ) | (11 | ) | |||||||||
Change in valuation allowances | 15 | (121 | ) | ||||||||||
Balance at end of year | $ | 4,610 | $ | 4,384 | |||||||||
A summary of other real estate owned operations, which are included in non-interest expenses, for the years ended December 31, 2013, 2012 and 2011, is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Other real estate owned operations, net | $ | 143 | $ | 96 | $ | 142 | |||||||
Loss (gain) on the sale of the other real estate owned | 127 | 74 | 103 | ||||||||||
Write-downs | 1,213 | (63 | ) | 22 | |||||||||
Change in valuation allowances | (15 | ) | 121 | 45 | |||||||||
Net losses from other real estate owned operations | $ | 1,468 | $ | 228 | $ | 312 | |||||||
Deposits
Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Deposits | ' | ||||||||
Note 10 – Deposits | |||||||||
A summary of deposits at December 31, 2013 and 2012, follows: | |||||||||
2013 | 2012 | ||||||||
Non-interest bearing deposits | $ | 321,408 | $ | 279,322 | |||||
Interest bearing deposits: | |||||||||
Demand deposits | 127,642 | 114,650 | |||||||
Regular savings | 534,530 | 481,062 | |||||||
Time deposits: | |||||||||
$100,000 or more | 43,299 | 48,503 | |||||||
Less than $100,000 | 12,553 | 11,971 | |||||||
Other interest bearing deposits | 144,013 | 167,032 | |||||||
862,037 | 823,218 | ||||||||
Total | $ | 1,183,445 | $ | 1,102,540 | |||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
Year ending December 31, | |||||||||
2014 | $ | 53,718 | |||||||
2015 | 947 | ||||||||
2016 | 534 | ||||||||
2017 | 272 | ||||||||
2018 and thereafter | 381 | ||||||||
$ | 55,852 | ||||||||
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2013 | |
Debt Disclosure [Abstract] | ' |
Borrowings | ' |
Note 11 – Borrowings | |
Federal Home Loan Bank (FHLB) Advances | |
The Bank has a credit line with the FHLB of Seattle equal to 20% of total assets. At December 31, 2013 and 2012, the Bank had outstanding advances against this credit line under Blanket Agreements for Advances and Security Agreements (“the Agreements”) of $0 and $10,000, respectively. The Agreements enable the Bank to borrow funds from the FHLB to fund mortgage loan programs and to satisfy certain other funding needs. The weighted average rate of interest applicable to the advance was 0% and 3.93% at December 31, 2013 and 2012, respectively. | |
The value of first lien one-to-four unit mortgage loans and first lien multifamily loans pledged under the Agreements must be maintained at not less than 120% and 125%, respectively, of the advances outstanding. | |
Other Borrowings | |
At December 31, 2013 and 2012, the Company had $0 and $145 thousand, respectively, in other borrowed funds with its Board of Directors. The other borrowings outstanding at December 31, 2012, matured in 2013. | |
Overnight Fed Funds Lines | |
At December 31, 2013 and 2012, the Bank had $17.0 million in Federal Funds lines of credit available with its correspondent banks. No borrowings were outstanding as of December 31, 2013. |
Transactions_with_Board_of_Dir
Transactions with Board of Directors | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Transactions with Board of Directors | ' | ||||||||
Note 12 – Transactions with Board of Directors | |||||||||
The Directors of the Company and the Bank, and certain of the businesses with which they are associated, conduct banking transactions with the Company in the ordinary course of business. All loans and commitments to loan included in such transactions are made in accordance with applicable laws and on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with persons of similar creditworthiness that were not affiliated with the Company, and did not present any undue risk of collectability. | |||||||||
The following is a summary of loan transactions with the Board of Directors of the Company and certain of their associated businesses: | |||||||||
Years Ended December 31, | |||||||||
2013(1) | 2012(1) | ||||||||
(Dollars in thousands) | |||||||||
Beginning balance | $ | 5,234 | $ | 13,551 | |||||
Undisbursed commitments | 154 | (0 | ) | ||||||
New loans granted | 376 | 172 | |||||||
Principal repayments | (724 | ) | (8,489 | ) | |||||
Ending balance of term loans | $ | 5,040 | $ | 5,234 | |||||
Year-end balance of revolving accounts | 5,751 | 2,099 | |||||||
Total term loans and revolving accounts | $ | 10,791 | $ | 7,333 | |||||
(1) | There were four new loans of $376 thousand made and outstanding to executive officers who are also directors at December 31, 2013, as compared to December 31, 2012 which reported a new loans of $172 thousand. | ||||||||
Deposits by Board of Directors members and executive officers held by the Bank were $6.9 million and $5.4 million at December 31, 2013 and 2012, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
Note 13 – Income Taxes | |||||||||||||
The Bank files income tax returns in Guam, the CNMI and the State of California. The Bank is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2008. | |||||||||||||
The income tax provision includes the following components: | |||||||||||||
For the Years | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Government of Guam tax expense (benefit): | |||||||||||||
Current | $ | 3,995 | $ | 3,728 | $ | 2,174 | |||||||
Deferred | (232 | ) | (644 | ) | (1,710 | ) | |||||||
Foreign income taxes (including U.S. income taxes) | 317 | 340 | 294 | ||||||||||
Total income tax expense | $ | 4,080 | $ | 3,424 | $ | 758 | |||||||
The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory Guam income tax rate | 34 | % | 34 | % | 34 | % | |||||||
Permanent differences | (5.5 | )% | (6.8 | )% | (16.6 | )% | |||||||
Other | 0.8 | % | 1.1 | % | (5.7 | )% | |||||||
Total income tax expense | 29.3 | % | 28.3 | % | 11.7 | % | |||||||
The difference between effective income tax expense and income tax expense computed at the Guam statutory rate was due to nontaxable interest income earned on loans to the Government of Guam for each of the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
The components of deferred income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Deferred loan origination fees | $ | (115 | ) | $ | (148 | ) | $ | (24 | ) | ||||
Mortgage servicing rights | 24 | 89 | 34 | ||||||||||
Loan loss provision | 53 | (388 | ) | (629 | ) | ||||||||
Deferred rent obligation | (22 | ) | (24 | ) | (28 | ) | |||||||
Other real estate owned valuation | 50 | (24 | ) | 37 | |||||||||
Fixed assets | 22 | 23 | (590 | ) | |||||||||
FAS 123R | (7 | ) | (4 | ) | (401 | ) | |||||||
SERP | (237 | ) | (168 | ) | (109 | ) | |||||||
Net operating loss | (1,974 | ) | (2,405 | ) | (2,812 | ) | |||||||
Change in valuation allowance | 1,974 | 2,405 | 2,812 | ||||||||||
Deferred tax (benefit) provision | $ | (232 | ) | $ | (644 | ) | $ | (1,710 | ) | ||||
The components of the net deferred tax asset are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax asset: | |||||||||||||
Allowance for loan losses | $ | 4,164 | $ | 4,216 | |||||||||
Net operating loss | 1,974 | 2,405 | |||||||||||
Loan origination fees | 765 | 650 | |||||||||||
FAS 123R | 412 | 405 | |||||||||||
Net unrealized loss on securities held-to-maturity | 1,108 | 143 | |||||||||||
Net unrealized gain on securities available-for-sale | 786 | 0 | |||||||||||
Deferred rent obligation | 262 | 241 | |||||||||||
Accruals not currently deductible | 512 | 326 | |||||||||||
Total deferred tax asset | 9,983 | 8,386 | |||||||||||
Deferred tax liability: | |||||||||||||
Fixed assets | (917 | ) | (895 | ) | |||||||||
Net unrealized loss on securities available-for-sale | 0 | (902 | ) | ||||||||||
Mortgage servicing rights | (467 | ) | (443 | ) | |||||||||
Total deferred tax liability | (1,384 | ) | (2,240 | ) | |||||||||
Valuation allowance | (1,974 | ) | (2,405 | ) | |||||||||
Net deferred tax asset | $ | 6,625 | $ | 3,741 | |||||||||
A valuation allowance of $2.0 million has been provided at December 31, 2013, to reduce the deferred tax asset because, in management’s opinion, it is more likely than not that less than the entire amount will be realized. | |||||||||||||
We record as a “deferred tax asset” on our balance sheet an amount equal to the tax credit and tax loss carry-forwards and tax deductions (“tax benefits”) that we believe will be available to us to offset or reduce the amounts of our income taxes in future periods. Under applicable federal and state income tax laws and regulations, such tax benefits will expire if not used within specified periods of time. Accordingly, the ability to fully use our deferred tax asset depends on the amount of taxable income that we generate during those time periods. At least once each year, or more frequently, if warranted, we make estimates of future taxable income that we believe we are likely to generate during those future periods. If we conclude, on the basis of those estimates and the amount of the tax benefits available to us, that it is more likely than not that we will be able to fully utilize those tax benefits prior to their expiration, we recognize the deferred tax asset in full on our balance sheet. On the other hand, if we conclude on the basis of those estimates and the amount of the tax benefits available to us that it has become more likely than not that we will be unable to utilize those tax benefits in full prior to their expiration, then we would establish (or increase any existing) valuation allowance to reduce the deferred tax asset on our balance sheet to the amount which we believe we are more likely than not to be able to utilize. Such a reduction is implemented by recognizing a non-cash charge that would have the effect of increasing the provision, or reducing any credit, for income taxes that we would otherwise have recorded in our statements of operations. The determination of whether and the extent to which we will be able to utilize our deferred tax asset involves significant management judgments and assumptions that are subject to period-to-period changes as a result of changes in tax laws, changes in the market, or economic conditions that could affect our operating results or variances between our actual operating results and our projected operating results, as well as other factors. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Postemployment Benefits [Abstract] | ' | ||||||||
Employee Benefit Plans | ' | ||||||||
Note 14 – Employee Benefit Plans | |||||||||
Stock Purchase Plan | |||||||||
The Bank’s 2011 Employee Stock Purchase Plan (the “2011 Plan”) was adopted by the Bank’s Board of Directors and approved by the Bank’s Stockholders on May 2, 2011. This plan was subsequently adopted by the Company after the Reorganization. The 2011 Plan is open to all employees of the Company and the Bank who have met certain eligibility requirements. | |||||||||
Under the 2011 Plan, as amended and restated as of July 1, 2012, eligible employees can purchase, through payroll deductions, shares of common stock at a discount. The right to purchase stocks is granted to eligible employees during a period of time that is established from time to time by the Board of Directors of the Company. Eligible employees cannot accrue the right to purchase more than $25 thousand worth of stock at the fair market value at the beginning of each offer period. Eligible employees also may not purchase more than one thousand five hundred (1,500) shares of stock in any one offer period. The shares are purchased at 85% of the fair market price of the stock on the enrollment date. The Bank recognized $21 thousand in compensation expense at December 31, 2013 and $11 thousand at December 31, 2012. | |||||||||
Executive Employment Agreements | |||||||||
The President and the Executive Vice President are employed under separate agreements terminating December 31, 2017, and May 31, 2018, respectively. Under the agreements, the President and the Executive Vice President receive specified base salaries, which are adjusted annually for changes in the U.S. Consumer Price Index, plus an incentive bonus. The President’s and the Executive Vice President’s bonuses are based on profitability, also within a defined limit, subject to adjustments based on the Bank meeting certain performance criteria. | |||||||||
Under a Phantom Stock unit and stock option plan, the President and Executive Vice President may elect to receive up to $100 each in Phantom Stock units in lieu of an equal amount of incentive bonus, as computed in their employment agreements. These non-voting Phantom Stock units may be held for receipt of dividends equal to the dividend rate of the Bank’s common stock, or may be redeemed at a price equal to the market value of the Bank’s common stock. In addition, for each Phantom Stock unit received, the executive employee receives options to purchase three shares of the Bank’s common stock at a price equal to the market value of the stock at the date the options are granted. The redemption of the Phantom Stock or the exercise of the options will result in the forfeiture by the executive employee of any rights under the other. At December 31, 2013 and 2012, there were no Phantom Stock units outstanding under the plan, nor have such units ever been issued as of December 31, 2013. | |||||||||
Senior Vice Presidents’ Employment Agreements | |||||||||
Two Senior Vice Presidents entered into separate five-year employment agreements on April 25, 2016. Under the agreements, they receive specified base salaries and they may receive bonuses, within a defined limit, based on the Bank’s profitability, adjusted by certain Bank performance criteria. | |||||||||
Seven Senior Vice Presidents entered into separate five-year employment agreements terminating on December 31, 2011. Under the agreements, they receive specified base salaries and they may receive bonuses, within a defined limit, based on the Bank’s profitability, adjusted by certain Bank performance criteria. The agreements were renewed on January 1, 2012, for a period of five years, terminating on December 31, 2016. | |||||||||
One Senior Vice President entered into an employment agreement commencing on August 9, 2013, and terminating on December 31, 2016. Under this agreement, there is a specified base salary and there may be bonuses, within a defined limit, based on the Bank’s profitability, as adjusted by certain Bank performance criteria. | |||||||||
Employee Retirement Savings Plan | |||||||||
The Bank has a 401(k) Plan whereby substantially all employees, with at least one year of continuous service, are eligible to participate in the Plan. The Bank made matching contributions equal to 50 percent of the first six percent of an employee’s compensation contributed to the Plan through February 28, 2008. Effective March 1, 2008, the Bank makes matching contributions equal to 100% of an employee’s deferrals, up to 1% of the employee’s compensation, plus 50% of the employee’s deferrals that exceed 1% but are less than 6% of the employee’s compensation. Previously, matching contributions vested to the employee over a five-year period of service. Effective March 1, 2008, matching contributions become 100% vested to the employee after 2 years of service. For the years ended December 31, 2013, 2012 and 2011, the expense attributable to the Plan was $464, $440 and $368, respectively. | |||||||||
Supplemental Executive Retirement Plan (“SERP”) | |||||||||
In April 2011, the Bank established an unfunded Supplemental Executive Retirement Plan (the “SERP”) for its Executive Officers and Senior Vice Presidents. The SERP provides that, subject to meeting certain vesting requirements described below, they will become entitled to receive 12 equal successive monthly retirement payments totaling $50,000 per annum for Senior Vice Presidents, $100,000 for the Executive Vice President, and $150,000 for the President and CEO during the years immediately following the date of their retirement or other termination of their employment. Their monthly retirement payments are not tied to service with the Bank. | |||||||||
The Company follows FASB ASC 715-30-35, which requires us to recognize in our balance sheet the funded status of any post-retirement plans that we maintain, and to recognize, in other comprehensive income, changes in funded status of any such plans in any year in which changes occur. | |||||||||
The changes in the projected benefit obligation of other benefits under the Plan during 2012 and 2013, its funded status at December 31, 2012 and 2013, and the amounts recognized in the balance sheet at December 31, 2012 and 2013, were as follows: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
Change in benefit obligation: | |||||||||
Benefit obligation at beginning of period | $ | 772 | $ | 318 | |||||
Service cost | 642 | 454 | |||||||
Interest cost | 0 | 0 | |||||||
Participant contributions | 0 | 0 | |||||||
Plan amendments | 0 | 0 | |||||||
Combination/divestiture/curtailment/settlement/termination | 0 | 0 | |||||||
Actuarial loss/(gain) | 0 | 0 | |||||||
(Benefits paid) | 0 | 0 | |||||||
Benefit obligation at end of period | $ | 1,414 | $ | 772 | |||||
Funded status: | |||||||||
Amounts recognized in the Statement of Financial Condition | |||||||||
Unfunded accrued SERP liability—current | $ | 1,414 | $ | 772 | |||||
Unfunded accrued SERP liability—noncurrent | 0 | 0 | |||||||
Total unfunded accrued SERP liability | $ | 1,414 | $ | 772 | |||||
Net amount recognized in accumulated other comprehensive income | |||||||||
Prior service cost/(benefit) | $ | 0 | $ | 0 | |||||
Net actuarial loss/(gain) | 0 | 0 | |||||||
Total net amount recognized in accumulated other comprehensive income | $ | 0 | $ | 0 | |||||
Accumulated benefit obligation | $ | 1,414 | $ | 772 | |||||
Components of net periodic SERP cost YTD: | |||||||||
Service cost | $ | 642 | $ | 454 | |||||
Interest cost | 0 | 0 | |||||||
Expected return on plan assets | 0 | 0 | |||||||
Amortization of prior service cost/(benefit) | 0 | 0 | |||||||
Amortization of net actuarial loss/(gain) | 0 | 0 | |||||||
Net periodic SERP cost | $ | 642 | $ | 454 | |||||
Recognized in other comprehensive income YTD: | |||||||||
Prior service cost/(benefit) | $ | 0 | $ | 0 | |||||
Net actuarial loss/(gain) | 0 | 0 | |||||||
Amortization of prior service cost/(benefit) | 0 | 0 | |||||||
Amortization of net actuarial loss/(gain) | 0 | 0 | |||||||
Total recognized year to date in other comprehensive income | $ | 0 | $ | 0 | |||||
Assumptions as of December 31,: | |||||||||
Assumed discount rate | 4.33 | % | 6.17 | % | |||||
Rate of compensation increase | 0 | % | 0 | % | |||||
As of December 31, 2013, $0 benefits are expected to be paid in the next seven years and a total of $554 thousand of benefits are expected to be paid in year 2021. $0 is expected to be recognized in net periodic benefit cost in 2014. |
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Common Share | ' | ||||||||||||
Note 15 – Earnings Per Common Share | |||||||||||||
Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Bank relate solely to outstanding stock options for 2011, and solely to shares for which employees’ funds have been collected but not issued under the Employee Stock Purchase Plan for 2012 and 2013, and are determined using the treasury stock method. | |||||||||||||
Earnings per common share have been computed based on reported net income and the following share data: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income available for common stockholders | $ | 9,868 | $ | 8,620 | $ | 5,734 | |||||||
Weighted average number of common shares outstanding | 8,790 | 8,779 | 8,752 | ||||||||||
Effect of dilutive options | 0 | 1 | 1,820 | ||||||||||
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 8,790 | 8,780 | 10,572 | ||||||||||
Income per common share: | |||||||||||||
Basic | $ | 1.12 | $ | 0.98 | $ | 0.66 | |||||||
Diluted | $ | 1.12 | $ | 0.98 | $ | 0.54 | |||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments and Contingencies | ' | ||||||||||||
Note 16 – Commitments and Contingencies | |||||||||||||
The Bank is a party to credit-related financial instruments with off-balance-sheet risk, in the normal course of business, to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount reflected in the consolidated financial statements. | |||||||||||||
The Bank’s exposure to credit loss, in the event of nonperformance by the other parties to financial instruments for loan commitments and letters of credit, is represented by the contractual amount of these instruments. The Bank follows the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | |||||||||||||
A summary of financial instruments with off-balance-sheet risk at December 31, 2013 and 2012 is as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Commitments to extend credit | $ | 121,618 | $ | 100,007 | |||||||||
Letters of credit: | |||||||||||||
Standby letters of credit | $ | 47,543 | $ | 26,178 | |||||||||
Other letters of credit | 2,582 | 3,030 | |||||||||||
$ | 50,125 | $ | 29,208 | ||||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The commitments for certain lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the customer. | |||||||||||||
Commercial and standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party or the shipment of merchandise from a third party. Those letters of credit are primarily issued to support government and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank generally holds collateral supporting these commitments. | |||||||||||||
The Bank considers its standby letters of credit to be guarantees. At December 31, 2013, the maximum undiscounted future payments that the Bank could be required to make was $47,543. All of these arrangements mature within one year. The Bank generally has recourse to recover from the customer any amounts paid under these guarantees. Most of the guarantees are fully collateralized; however, some are unsecured. The Bank had not recorded any liabilities associated with these guarantees at December 31, 2013. | |||||||||||||
Mortgage loans serviced for others are not included in the accompanying consolidated statements of condition. The unpaid principal balances of mortgage loans serviced for others were $208,599 and $197,391 at December 31, 2013 and 2012, respectively. On December 31, 2013 and 2012, the Bank recorded mortgage servicing rights at their fair value of $1,354 and $1,285, respectively. | |||||||||||||
The Bank utilizes facilities, equipment and land under various operating leases with terms ranging from 1 to 99 years. Some of these leases include scheduled rent increases. The total amount of the rent is being debited to expense under the straight-line method over the lease terms, in accordance with ASC Topic 840, “Leases”. The Bank has recorded a deferred obligation of $760 and $698 as of December 31, 2013 and 2012, respectively, which has been included within other liabilities, to reflect the excess of rent expense over cash paid on the leases. | |||||||||||||
At December 31, 2013, annual lease commitments under the above noncancelable operating leases were as follows: | |||||||||||||
Years ending December 31, | |||||||||||||
2014 | $ | 1,457 | |||||||||||
2015 | 1,072 | ||||||||||||
2016 | 886 | ||||||||||||
2017 | 697 | ||||||||||||
2018 and thereafter | 19,046 | ||||||||||||
$ | 23,158 | ||||||||||||
The Bank leases certain facilities from two separate entities in which two of its directors have separate ownership interests. Lease payments made to these entities during the years ended December 31, 2013, 2012 and 2011 approximated $370, $358 and $351, respectively. | |||||||||||||
Additionally, the Bank leases office space to third parties, with original lease terms ranging from 3 to 5 years with option periods ranging up to 15 years. At December 31, 2013, minimum future rents to be received under noncancelable operating sublease agreements were $84, $40, $27 and $0 for the years ending December 31, 2014, 2015, 2016 and 2017, respectively. | |||||||||||||
A summary of rental activities for years ended December 31, 2013, 2012 and 2011, is as follows: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rent expense | $ | 2,343 | $ | 2,293 | $ | 2,309 | |||||||
Less: sublease rentals | 268 | 257 | 254 | ||||||||||
Net rent expense | $ | 2,075 | $ | 2,036 | $ | 2,055 | |||||||
Contingencies | |||||||||||||
The Bank is involved in certain legal actions and claims that arise in the ordinary course of business. Management believes that, as a result of its legal defenses and insurance arrangements, none of these matters are expected to pose a material adverse threat to the Bank’s financial position, results of operations or cash flows. |
Minimum_Regulatory_Capital_Req
Minimum Regulatory Capital Requirements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Minimum Regulatory Capital Requirements | ' | ||||||||||||||||||||||||
Note 17 – Minimum Regulatory Capital Requirements | |||||||||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by the United States 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 Bank’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items, as calculated under regulatory accounting practices. | |||||||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). As of December 31, 2013 and 2012, the Bank met all capital adequacy requirements to which it is subject. | |||||||||||||||||||||||||
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following tables. | |||||||||||||||||||||||||
There are no conditions or events since the notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios as of December 31, 2013 and 2012 are also presented in the table. | |||||||||||||||||||||||||
Actual Capital | For Capital Adequacy | To Be Well Capitalized | |||||||||||||||||||||||
Purposes | Under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||
Total capital (to Risk Weighted Assets) | $ | 108,238 | 12.53 | % | $ | 69,114 | 8 | % | $ | 86,392 | 10 | % | |||||||||||||
Tier 1 capital (to Risk Weighted Assets) | $ | 97,563 | 11.43 | % | $ | 34,130 | 4 | % | $ | 51,195 | 6 | % | |||||||||||||
Tier 1 capital (to Average Assets) | $ | 97,563 | 7.6 | % | $ | 51,320 | 4 | % | $ | 64,151 | 5 | % | |||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||
Total capital (to Risk Weighted Assets) | $ | 101,489 | 13.51 | % | $ | 60,094 | 8 | % | $ | 75,118 | 10 | % | |||||||||||||
Tier 1 capital (to Risk Weighted Assets) | $ | 92,206 | 12.43 | % | $ | 29,676 | 4 | % | $ | 44,514 | 6 | % | |||||||||||||
Tier 1 capital (to Average Assets) | $ | 92,206 | 7.4 | % | $ | 49,854 | 4 | % | $ | 62,317 | 5 | % |
Parent_Company_Only_Informatio
Parent Company Only Information | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Parent Company Only Information | ' | ||||||||
Note 18 – Parent Company Only Information | |||||||||
Condensed Statements of Financial Condition | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Assets | |||||||||
Due from subsidiary depository institution | $ | 222 | $ | 92 | |||||
Investment in subsidiary | 93,587 | 94,452 | |||||||
Other assets | 3 | 39 | |||||||
Total assets | $ | 93,812 | $ | 94,583 | |||||
Liabilities and stockholders’ equity | |||||||||
Liabilities | $ | 2 | $ | 148 | |||||
Stockholders’ equity | 93,810 | 94,435 | |||||||
Total liabilities and stockholders’ equity | $ | 93,812 | $ | 94,583 | |||||
Condensed Statements of Income | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Dividend income | $ | 4,658 | $ | 4,741 | |||||
Interest expense | 0 | 5 | |||||||
Other expenses | 185 | 230 | |||||||
Equity in undistributed income of subsidiary | 5,395 | 4,114 | |||||||
Net income | $ | 9,868 | $ | 8,620 | |||||
Condensed Statements of Cash Flows | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash flows from operating activities: | |||||||||
Net income | $ | 9,868 | $ | 8,620 | |||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||
Undistributed (earnings) losses of subsidiary | (5,395 | ) | (4,114 | ) | |||||
Net increase (decrease) in other liabilities | 0 | (13 | ) | ||||||
Net cash provided by operating activities | 4,473 | 4,493 | |||||||
Cash Flows from Financing Activities: | |||||||||
Cash dividends paid | (4,395 | ) | (4,390 | ) | |||||
Net change in other short-term borrowings | (145 | ) | (55 | ) | |||||
Proceeds from issuance of common stock | 197 | 0 | |||||||
Net cash used in financing activities | (4,343 | ) | (4,445 | ) | |||||
Net change in cash and cash equivalents | 130 | 48 | |||||||
Cash and Cash Equivalents, beginning of period | 92 | 44 | |||||||
Cash and Cash Equivalents, end of period | $ | 222 | $ | 92 | |||||
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value of Assets and Liabilities | ' | ||||||||||||||||
Note 19 – Fair Value of Assets and Liabilities | |||||||||||||||||
The Bank uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820, “Fair Value Measurements and Disclosures”, the fair value of a financial instrument is the price that would be received in selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Bank’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | |||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||
In accordance with this guidance, the Bank groups its financial assets and financial liabilities, generally measured 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 on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | ||||||||||||||||
Level 2: | Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||
Level 3: | Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. | ||||||||||||||||
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||
Financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012, are as follows: | |||||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | ||||||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
December 31, 2013 | |||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
U.S. government agency pool securities | 0 | 54,292 | 0 | 54,292 | |||||||||||||
U.S. government agency of GSE | 0 | 128,540 | 0 | 128,540 | |||||||||||||
Other assets: | |||||||||||||||||
MSRs | 0 | 0 | 1,354 | 1,354 | |||||||||||||
Total assets | $ | 0 | $ | 182,832 | $ | 1,354 | $ | 184,186 | |||||||||
December 31, 2012 | |||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 0 | $ | 60,145 | $ | 0 | $ | 60,145 | |||||||||
U.S. government agency pool securities | 0 | 73,798 | 0 | 73,798 | |||||||||||||
U.S. government agency of GSE | 0 | 139,579 | 0 | 139,579 | |||||||||||||
Other assets: | |||||||||||||||||
MSRs | 0 | 0 | 1,285 | 1,285 | |||||||||||||
Total assets | $ | 0 | $ | 273,522 | $ | 1,285 | $ | 274,807 | |||||||||
There were no liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012. | |||||||||||||||||
During the periods ended December 31, 2013, 2012 and 2011, the changes in Level 3 assets measured at fair value on a recurring basis are as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Beginning balance | $ | 1,285 | $ | 1,028 | $ | 942 | |||||||||||
Realized and unrealized net gains: | |||||||||||||||||
Included in net income | 69 | 257 | 86 | ||||||||||||||
Included in other comprehensive income | 0 | 0 | 0 | ||||||||||||||
Purchases, sales and issuances | |||||||||||||||||
Purchases | (31,546 | ) | (31,391 | ) | (28,098 | ) | |||||||||||
Sales | 31,546 | 31,391 | 28,098 | ||||||||||||||
Issuances | 0 | 0 | 0 | ||||||||||||||
Ending balance | $ | 1,354 | $ | 1,285 | $ | 1,028 | |||||||||||
There were no transfers in or out of the Bank’s Level 3 financial assets for the periods ended December 31, 2013, 2012 and 2011. | |||||||||||||||||
The valuation techniques for assets measured at fair value on a recurring basis are as follows: | |||||||||||||||||
Investment Securities | |||||||||||||||||
When quoted prices are available in an active market, the Bank classifies the securities within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid U.S. Government debt and equity securities. | |||||||||||||||||
If quoted market prices are not available, the Bank estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include GSE obligations, corporate bonds, and other securities. Mortgage-backed securities are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, the Bank would classify those securities in Level 3. At December 31, 2013 and 2012, the Bank did not have any Level 3 securities. | |||||||||||||||||
Mortgage Servicing Rights | |||||||||||||||||
The fair value measurement of mortgage servicing rights 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 that incorporate assumptions that market participants would use in estimating the fair value of servicing rights. The most important of these assumptions is the interest rate used in discounting the future cash flows into their present value. Other assumptions might include estimates of prepayment speeds, costs to service, escrow account earnings, contractual servicing fee income, prepayment and late fees, among other considerations. Mortgage servicing rights are considered a Level 3 measurement at December 31, 2013 and 2012. | |||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
Under certain circumstances the Bank makes adjustments to fair value for assets and liabilities even though they are not measured at fair value on an ongoing basis. The following table presents the financial instruments carried on the consolidated statements of condition by caption and by level in the fair value hierarchy at December 31, 2013 and 2012, for which a nonrecurring change in fair value has been recorded: | |||||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | ||||||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
December 31, 2013 | |||||||||||||||||
Financial assets: | |||||||||||||||||
Loans, net | |||||||||||||||||
Impaired loans | $ | 0 | $ | 364 | $ | 0 | $ | 364 | |||||||||
Other assets | |||||||||||||||||
Other real estate owned | $ | 0 | $ | 4,610 | $ | 0 | $ | 4,610 | |||||||||
December 31, 2012 | |||||||||||||||||
Financial assets: | |||||||||||||||||
Loans, net | |||||||||||||||||
Impaired loans | $ | 0 | $ | 250 | $ | 0 | $ | 250 | |||||||||
Other assets | |||||||||||||||||
Other real estate owned | $ | 0 | $ | 4,384 | $ | 0 | $ | 4,384 | |||||||||
In accordance with the provisions of loan impairment guidance of ASC Subtopic 310-10-35, individual loans with total carrying values of $394 and $662 at December 31, 2013 and 2012, respectively, were written down to their fair value of $364 and $250, respectively, resulting in impairment charges of $30 and $412, respectively, which were recorded as charge-offs to the allowance for loan losses. Loans subject to write downs are estimated using the appraised value of the underlying collateral, discounted as necessary due to management’s estimates of changes in economic conditions, less estimated costs to sell. | |||||||||||||||||
In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC Subtopic 360–10, foreclosed assets with a carrying amount of $4.9 million at December 31, 2013, were written down to their fair value of $3.7 million, resulting in a loss of $1.2 million, which was deducted from earnings for the period. The Bank had foreclosed assets with a carrying amount of $100 at December 31, 2012, which were written down to their fair value of $79, resulting in a loss of $21, which was deducted from earnings for the period. Foreclosed assets subject to write downs is estimated using the appraised value of the underlying collateral, discounted as necessary due to management’s estimates of changes in economic conditions, less estimated costs to sell. | |||||||||||||||||
Additionally, the Bank also makes adjustments to nonfinancial assets and liabilities though they are not measured at fair value on an ongoing basis. The Bank does not have nonfinancial assets or liabilities for which a nonrecurring change in fair value has been recorded during the periods ended December 31, 2013 and 2012. | |||||||||||||||||
Fair Value of Other Financial Instruments | |||||||||||||||||
The estimated fair values of the Bank’s other financial instruments, excluding those assets recorded at fair value on a recurring basis on the Bank’s consolidated statements of condition, are as follows: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 96,583 | $ | 96,583 | $ | 74,189 | $ | 74,189 | |||||||||
Interest bearing deposits with banks | $ | 400 | $ | 400 | $ | 150 | $ | 150 | |||||||||
Investment securities held-to-maturity | $ | 88,989 | $ | 88,820 | $ | 58,125 | $ | 60,221 | |||||||||
Loans | $ | 875,173 | $ | 859,808 | $ | 762,945 | $ | 746,848 | |||||||||
Accrued interest receivable | $ | 4,013 | $ | 4,013 | $ | 3,599 | $ | 3,599 | |||||||||
Financial liabilities: | |||||||||||||||||
Deposits | $ | 1,183,445 | $ | 1,185,531 | $ | 1,102,540 | $ | 1,107,142 | |||||||||
Accrued interest payable | $ | 164 | $ | 164 | $ | 161 | $ | 161 | |||||||||
Federal Home Loan Bank advances | $ | 0 | $ | 0 | $ | 10,000 | $ | 10,000 | |||||||||
The following methods were used by the Company in estimating fair value for its financial instruments not previously disclosed: | |||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
The carrying amount of cash and short-term instruments approximates fair value based on the short-term nature of the assets. | |||||||||||||||||
Interest-Bearing Deposits in Banks | |||||||||||||||||
Fair values for other interest-bearing deposits are estimated using discounted cash flow analyses based on current rates for similar types of deposits. | |||||||||||||||||
Loans | |||||||||||||||||
For variable-rate loans that re-price frequently and with no significant change in credit risk, fair values are based on carrying values. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Fair values for nonperforming loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. | |||||||||||||||||
Deposit Liabilities | |||||||||||||||||
The fair values disclosed for demand deposits (for example, interest and non-interest checking, passbook savings and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates currently on comparable instruments to a schedule of aggregated expected monthly maturities on time deposits. | |||||||||||||||||
Short-Term Borrowings | |||||||||||||||||
The carrying amounts of Federal Funds purchased and FHLB advances maturing within ninety days approximate their fair values. | |||||||||||||||||
Long-Term Borrowings | |||||||||||||||||
Fair value of FHLB advances maturing after ninety days is determined based on expected present value techniques based on current market rates for advances with similar terms and remaining maturities. | |||||||||||||||||
Accrued Interest | |||||||||||||||||
The carrying amount of accrued interest approximates fair value. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Fair Value Disclosures [Abstract] | ' | ||
Principles of Consolidation and Basis of Presentation | ' | ||
Principles of Consolidation and Basis of Presentation | |||
The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in effect in the United States (“GAAP”), on a basis consistent with prior periods. | |||
The consolidated financial statements include the accounts of BankGuam Holding Company, the Bank and the Bank’s wholly owned subsidiaries, BankGuam Properties, Inc. and BankGuam Insurance Underwriters, Ltd. All significant intercompany and inter-branch balances and transactions have been eliminated in consolidation. | |||
Assets held by the Bank’s Trust department in a fiduciary capacity are not assets of the Bank, and, accordingly, are not included in the accompanying consolidated financial statements. | |||
Use of Estimates | ' | ||
Use of Estimates | |||
The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the periods presented. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, valuation of other real estate owned and the fair value of financial instruments. | |||
Cash and Cash Equivalents | ' | ||
Cash and Cash Equivalents | |||
For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash on hand and balances due from banks, Federal Funds sold, and interest bearing deposits with other banks, all of which mature within ninety days. The Bank is required by the Federal Reserve System to maintain cash reserves against certain of its deposit accounts. At December 31, 2013 and 2012, the required combined reserves totaled approximately $18,613 and $18,066, respectively. | |||
Restricted Cash | ' | ||
Restricted Cash | |||
Interest-bearing deposits in banks that mature within one year are carried at cost. These deposits are held jointly under the names of Bank of Guam and the Guam Insurance Commissioner, and are for the benefit of a Bank of Guam Trust Department customer. | |||
Investment Securities | ' | ||
Investment Securities | |||
Certain debt securities that management has the positive intent and ability to hold to maturity are classified as “held-to-maturity,” and are recorded at amortized cost. Securities not classified as held-to-maturity, including equity securities with readily determinable fair value, are classified as “available-for-sale” and are recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest yield method over the terms of the securities. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. The Bank does not hold securities for trading purposes. | |||
To comply with the requirements of FASB ASC Topic 320, formerly Financial Accounting Standards 115 (FAS-115) and applicable regulatory requirements, at the time of purchase, investment securities will be classified and accounted for as either “Available-for-Sale” or “Held-to-Maturity”. Any transfer of investment securities between the “Available-for-Sale” and “Held-to-Maturity” classifications must have the prior written approval of the Board of Directors. The memorandum requesting the Board for approval for such transfer must provide the specific business reason for such transfer, the potential financial implications, and the potential effects of “tainting” the portfolio as a whole as outlined in FASB ASC Topic 320. | |||
Declines in the fair value of securities below their cost that are other than temporary are reflected in earnings as realized losses. In determining other-than-temporary losses, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment, and is based on the information available to management at the time such a determination is made. | |||
Federal Home Loan Bank Stock | ' | ||
Federal Home Loan Bank Stock | |||
The Bank is required to hold non-marketable equity securities, comprised of Federal Home Loan Bank of Seattle (“FHLB”) stock, as a condition of membership. These securities are accounted for at cost, which equals par or redemption value. Ownership is restricted and there is no market for these securities. These securities are redeemable at par by the issuing government supported institutions. The primary factor supporting the carrying value is the commitment of the FHLB to perform its obligations, which includes providing credit and other services to the Bank. | |||
Mortgage Servicing Rights (MSR) | ' | ||
Mortgage Servicing Rights (MSR) | |||
Mortgage servicing assets, included in other assets in the consolidated statements of financial condition, are recognized separately when rights are acquired through the sale of mortgage loans. Under the servicing assets and liabilities accounting guidance in ASC Topic 860, “Transfers and Servicing”, servicing rights resulting from the sale of loans originated by the Bank are measured at fair value at the date of transfer. The Bank subsequently measures each class of servicing assets using fair value. Under the fair value method, the servicing rights are carried in the statements of financial condition at fair value and the changes in fair value are reported in earnings in the period in which the changes occur. Servicing fee income is recorded as fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, and are recorded as income when earned. | |||
Loans Held for Investment | ' | ||
Loans Held for Investment | |||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances, adjusted for charge-offs, an allowance for loan losses, and any deferred fees or costs on originated loans, as well as unamortized premiums or discounts on purchased loans, except for certain purchased loans that fall under the scope of ASC Topic 310-30, “Accounting for Loans and Debt Securities Acquired with Deteriorated Credit Quality” (ASC 310-30). | |||
Interest income is accrued on the unpaid principal balance of loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized as income using the effective interest method over the contractual life of the loans. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Credit card loans and other unsecured consumer loans are typically charged off no later than 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. | |||
All interest accrued but not collected for loans that are placed on non-accrual or charged off are reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |||
The Bank evaluated the portfolio of loans acquired from Wells Fargo Financial in December 2011 (the “Wells Portfolio”), and has elected to account for a portion of those loans under ASC 310-30, “Accounting for Loans and Debt Securities Acquired with Deteriorated Credit Quality”. We account for acquired loans under ASC 310-30 when there is evidence of credit deterioration since their origination and it is probable at the date of acquisition that we would be unable to collect all contractually required payments. The Wells Portfolio loans were recorded at their estimated fair value at the time of acquisition. Fair value of acquired loans was determined using a discounted cash flow model based on assumptions about the amount and timing of principal and interest payments, estimated prepayments, estimated default rates, estimated loss severity in the event of defaults, and current market rates. Estimated credit losses were included in the determination of fair value; therefore, an allowance for loan losses was not recorded on the acquisition date. | |||
The carrying value of the Wells Portfolio is reduced by payments received and increased by the portion of the accretable yield recognized as interest income. These loans were acquired with a loss-sharing arrangement. If the Bank has credit losses, net of recoveries, of greater than 0.50% of the remaining portfolio in any given year, Wells Fargo Financial will cover those net losses in an amount up to $320 thousand per year for five years. | |||
Loan Origination Fees and Costs | ' | ||
Loan Origination Fees and Costs | |||
All loan origination fees and related direct costs are deferred and amortized to interest income as an adjustment to yield over the respective lives of the loans using the effective interest method, except for loans that are revolving or short-term in nature for which the straight line method is used, which approximates the interest method. | |||
Allowance for Loan Losses | ' | ||
Allowance for Loan Losses | |||
The allowance for loan losses is established as losses are estimated to be likely, and is funded through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |||
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |||
A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and real estate loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loans’ obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |||
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Bank does not separately identify individual consumer loans for impairment disclosures. | |||
Loans Held for Sale | ' | ||
Loans Held for Sale | |||
In its normal course of business, the Bank originates mortgage loans held for sale to the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”). The Bank has elected to measure its residential mortgage loans held for sale at the lower of cost or market. Origination fees and costs are recognized in earnings at the time of origination for newly originated loans held for sale, and the loans are sold to Freddie Mac at par, so there is never a gain or loss reported in earnings. | |||
During the years ended December 31, 2013, 2012 and 2011, the Bank originated and sold approximately $31.5 million, $31.4 million and $28.1 million, respectively, of the above mentioned loans. | |||
Off-Balance Sheet Financial Instruments | ' | ||
Off-Balance Sheet Financial Instruments | |||
In the ordinary course of business, the Bank has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit and standby letters of credit. Such financial instruments are recorded as off-balance sheet items when the commitment is made, then recorded as balance sheet items if and when they are funded. (See Note 16) | |||
Premises and Equipment | ' | ||
Premises and Equipment | |||
Premises and equipment are reported at cost, less accumulated depreciation and amortization. Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the related assets. Depreciation expense has been computed principally using estimated lives of 15 to 40 years for premises and 5 to 10 years for furniture and equipment. Leasehold improvements are depreciated over the estimated lives of the assets or the expected terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. | |||
Construction-in-progress consists of accumulated direct and indirect costs associated with the Bank’s construction of premises and the purchase of equipment that has not yet been placed in service and, accordingly, has not yet been subjected to depreciation. Such assets begin depreciation over their estimated useful lives when completed and placed in service. | |||
Premises and equipment are periodically evaluated for impairment when events or changes in circumstances indicate the carrying amount may not be recoverable. Impairment exists when the expected undiscounted future cash flows of premises and equipment are less than their carrying amount. In that event, the Bank records a loss for the difference between the carrying amount and the estimated fair value of the asset based on quoted prices. | |||
Other Real Estate Owned | ' | ||
Other Real Estate Owned | |||
Properties acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, reduced by estimated selling costs. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less the estimated cost to sell. Other real estate owned is estimated using the appraised value of the underlying collateral, discounted as necessary due to management’s estimates of changes in economic conditions, less estimated costs to sell. A valuation allowance is increased by provisions charged to earnings. Subsequent write-downs, income and expenses incurred in connection with holding such assets, and gains and losses realized from the sale of such assets, are charged to the valuation allowance. | |||
Goodwill | ' | ||
Goodwill | |||
Goodwill is deemed to have an indefinite life, and is not amortized but is evaluated at least annually for impairment in accordance with ASC Topic 350, “Intangibles – Goodwill and Other”. Based upon the Company’s most recent evaluation, there are no indicators of impairment. | |||
Treasury Stock | ' | ||
Treasury Stock | |||
Common stock shares repurchased are recorded as treasury stock at cost. | |||
Income Taxes | ' | ||
Income Taxes | |||
Income taxes represent taxes recognized under laws of the Government of Guam, which generally conform to U.S. income tax laws. Foreign income taxes result from payments of taxes with effective rates ranging from 2% to 5% of gross income in the FSM, the RMI and the ROP to their respective government jurisdictions. U.S. Federal, California and the Commonwealth of the Northern Mariana Islands income taxes are reflected as foreign taxes for financial reporting purposes. | |||
The Company accounts for income taxes in accordance with income tax accounting guidance ASC Topic 740, “Income Taxes”. | |||
The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid for the period by applying the provisions of the enacted tax law to the taxable income. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. | |||
Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term, “more likely than not,” means a likelihood of more than 50 percent; the terms, “examined,” and, “upon examination,” also include resolution of related appeals or litigation processes, if any. | |||
A tax position that meets the “more likely than not” recognition threshold is initially and subsequently measured as the largest amount of which the tax authority has full knowledge of all relevant information. The determination of whether or not a tax position has met the “more likely than not” recognition threshold considers the facts, circumstances, and information available at the reporting date, and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |||
The Company recognizes interest and penalties on income taxes as a component of income tax expense. | |||
Comprehensive Income | ' | ||
Comprehensive Income | |||
Comprehensive income consists of net income and other comprehensive income, including unrealized gains and losses on securities available-for-sale, which are also recognized as separate components of equity. | |||
Earnings Per Common Share | ' | ||
Earnings Per Common Share | |||
Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may have been issued by the Company relate solely to outstanding stock options, and are determined using the treasury stock method. | |||
Fair Value of Financial Instruments/Fair Value Option | ' | ||
Fair Value of Financial Instruments/Fair Value Option | |||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 19. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect these estimates. In addition, the fair value option provides an option to elect fair value as an alternative measurement for selected financial assets, financial liabilities, unrecognized firm commitments and written loan commitments not previously carried at fair value. The Company and the Bank have elected the fair value option for its mortgage servicing rights originated subsequent to 2005. The election was made to better reflect the underlying economics and to mitigate operational complexities in risk management activities. | |||
Transfers of Financial Assets | ' | ||
Transfers of Financial Assets | |||
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when, (i) the assets have been isolated from the Bank – put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (iii) the Bank does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. | |||
Contingencies | ' | ||
Contingencies | |||
From time to time, the Company may become involved in disputes, litigation and other legal actions. In such event, the Company estimates the range of liability related to pending litigation where the amount and range of loss can be estimated and information available prior to the issuance of financial statements indicates such loss is considered probable. Where a liability is probable and there is a range of estimated loss with no best estimate in the range, the Company records a charge equal to at least the minimum amount in the range. | |||
Subsequent Events | ' | ||
Subsequent Events | |||
Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. The Company recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing the financial statements. The Company’s financial statements do not recognize subsequent events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after the balance sheet date and before financial statements are available to be issued. | |||
The Company has evaluated events subsequent to December 31, 2013, through the date that these consolidated financial statements are being filed with the Securities and Exchange Commission. | |||
Recent Accounting Pronouncements | ' | ||
In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income”, which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective lines in the entity’s net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on our consolidated financial condition or results of operations. | |||
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”, which amended its guidance on income taxes to eliminate diversity in the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments clarify whether unrecognized tax benefits should be presented as a liability on the balance sheet or as a reduction of a deferred tax asset. This guidance is effective for interim and annual periods beginning after December 15, 2013. Early adoption is permitted. We plan to adopt this guidance on January 1, 2014, and do not expect that it will have a material impact on our financial statement presentation. | |||
Fair value measurement | ' | ||
The Bank uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820, “Fair Value Measurements and Disclosures”, the fair value of a financial instrument is the price that would be received in selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Bank’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. | |||
Fair Value Hierarchy | |||
In accordance with this guidance, the Bank groups its financial assets and financial liabilities, generally measured 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 on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. | ||
Level 2: | Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||
Level 3: | Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. |
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments Schedule [Abstract] | ' | ||||||||||||||||||||||||
Summary of Amortized Cost and Fair Value of Investment Securities, with Gross Unrealized Gains and Losses | ' | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities, with gross unrealized gains and losses, was as follows: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 54,733 | $ | 122 | $ | (563 | ) | $ | 54,292 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 130,411 | 112 | (1,983 | ) | 128,540 | ||||||||||||||||||||
Total | $ | 185,144 | $ | 234 | $ | (2,546 | ) | $ | 182,832 | ||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 32,824 | $ | 0 | $ | (515 | ) | $ | 32,309 | ||||||||||||||||
U.S. government agency pool securities | 1,641 | 24 | (12 | ) | 1,653 | ||||||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 54,524 | 920 | (586 | ) | 54,858 | ||||||||||||||||||||
Total | $ | 88,989 | $ | 944 | $ | (1,113 | ) | $ | 88,820 | ||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 59,923 | $ | 360 | $ | (138 | ) | $ | 60,145 | ||||||||||||||||
U.S. government agency pool securities | 73,663 | 275 | (140 | ) | 73,798 | ||||||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 137,282 | 2,449 | (152 | ) | 139,579 | ||||||||||||||||||||
Total | $ | 270,868 | $ | 3,084 | $ | (430 | ) | $ | 273,522 | ||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 1,966 | $ | 45 | $ | (3 | ) | $ | 2,008 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | 56,159 | 2,054 | 0 | 58,213 | |||||||||||||||||||||
Total | $ | 58,125 | $ | 2,099 | $ | (3 | ) | $ | 60,221 | ||||||||||||||||
Summary of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities by contractual maturity at December 31, 2013 and 2012, are shown below. Securities not due at a single maturity date, such as agency pool securities and mortgage-backed securities, are shown separately. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
Due after one but within five years | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Due after five years | 0 | 0 | 32,824 | 32,309 | |||||||||||||||||||||
U.S. Government agency pool securities | 54,733 | 54,292 | 1,641 | 1,653 | |||||||||||||||||||||
Mortgage-backed securities | 130,411 | 128,540 | 54,524 | 54,858 | |||||||||||||||||||||
Total | $ | 185,144 | $ | 182,832 | $ | 88,989 | $ | 88,820 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
Due after one but within five years | $ | 4,997 | $ | 5,035 | $ | 0 | $ | 0 | |||||||||||||||||
Due after five years | 54,926 | 55,110 | 0 | 0 | |||||||||||||||||||||
U.S. Government agency pool securities | 73,663 | 73,798 | 1,966 | 2,008 | |||||||||||||||||||||
Mortgage-backed securities | 137,282 | 139,579 | 56,159 | 58,213 | |||||||||||||||||||||
Total | $ | 270,868 | $ | 273,522 | $ | 58,125 | $ | 60,221 | |||||||||||||||||
Summary of Gross Unrealized Losses and Fair Value of Investments, with Unrealized Losses of Temporarily Impaired Securities | ' | ||||||||||||||||||||||||
The following table shows the gross unrealized losses and fair value of the Bank’s investments, with unrealized losses that are not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013 and 2012. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Less Than Twelve Months | More Than Twelve Months | Total | |||||||||||||||||||||||
Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | ||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. government agency pool securities | (505 | ) | 42,298 | (58 | ) | 4,843 | (563 | ) | 47,141 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | (1,957 | ) | 108,637 | (26 | ) | 5,606 | (1,983 | ) | 114,243 | ||||||||||||||||
Total | $ | (2,462 | ) | $ | 150,935 | $ | (84 | ) | $ | 10,449 | $ | (2,546 | ) | $ | 161,384 | ||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | (515 | ) | $ | 32,309 | $ | 0 | $ | 0 | $ | (515 | ) | $ | 32,309 | |||||||||||
U.S. government agency pool securities | $ | (8 | ) | $ | 304 | $ | (4 | ) | $ | 284 | $ | (12 | ) | $ | 588 | ||||||||||
U.S. government agency or GSE mortgage-backed securities | (586 | ) | 18,770 | 0 | 0 | (586 | ) | 18,770 | |||||||||||||||||
Total | $ | (1,109 | ) | $ | 51,383 | $ | (4 | ) | $ | 284 | $ | (1,113 | ) | $ | 51,667 | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less Than Twelve Months | More Than Twelve Months | Total | |||||||||||||||||||||||
Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | ||||||||||||||||||||
Loss | Loss | Loss | |||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | (138 | ) | $ | 29,836 | $ | 0 | $ | 0 | $ | (138 | ) | $ | 29,836 | |||||||||||
U.S. government agency pool securities | (139 | ) | 29,921 | (1 | ) | 76 | (140 | ) | 29,997 | ||||||||||||||||
U.S. government agency or GSE mortgage-backed securities | (136 | ) | 25,420 | (16 | ) | 3,216 | (152 | ) | 28,636 | ||||||||||||||||
Total | $ | (413 | ) | $ | 85,177 | $ | (17 | ) | $ | 3,292 | $ | (430 | ) | $ | 88,469 | ||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
U.S. government agency pool securities | $ | 0 | $ | 29 | $ | (3 | ) | $ | 302 | $ | (3 | ) | $ | 331 | |||||||||||
U.S. government agency or GSE mortgage-backed securities | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total | $ | 0 | $ | 29 | $ | (3 | ) | $ | 302 | $ | (3 | ) | $ | 331 | |||||||||||
Loans_Tables
Loans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loan Portfolio | ' | ||||||||||||||||||||||||
The loan portfolio consisted of the following at: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 183,364 | 21 | % | $ | 138,951 | 18.2 | % | |||||||||||||||||
Commercial mortgage | 380,454 | 43.4 | % | 314,462 | 41.2 | % | |||||||||||||||||||
Commercial construction | 697 | 0.1 | % | 3,908 | 0.5 | % | |||||||||||||||||||
Total commercial | 564,515 | 64.5 | % | 457,321 | 59.9 | % | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 152,757 | 17.5 | % | 164,774 | 21.6 | % | |||||||||||||||||||
Home equity | 1,039 | 0.1 | % | 1,211 | 0.2 | % | |||||||||||||||||||
Automobile | 7,269 | 0.8 | % | 8,227 | 1.1 | % | |||||||||||||||||||
Other consumer loans1 | 149,593 | 17.1 | % | 131,412 | 17.2 | % | |||||||||||||||||||
Total consumer | 310,658 | 35.5 | % | 305,624 | 40.1 | % | |||||||||||||||||||
Gross loans | 875,173 | 100 | % | 762,945 | 100 | % | |||||||||||||||||||
Deferred fee (income) costs, net | (2,213 | ) | (1,885 | ) | |||||||||||||||||||||
Allowance for loan losses | (12,077 | ) | (12,228 | ) | |||||||||||||||||||||
Loans, net | $ | 860,883 | $ | 748,832 | |||||||||||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
Certain Loans Acquired in Acquisition of Portfolio of Loans from Wells Fargo | ' | ||||||||||||||||||||||||
A summary of the major categories of loans outstanding acquired from Wells Fargo showing those subject to ASC 310-30 is presented in the following table. | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
ASC 310-30 | All other | Total loans | |||||||||||||||||||||||
loans | |||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Residential mortgage | $ | 0 | $ | 77,168 | $ | 77,168 | |||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer loans | 478 | 0 | 478 | ||||||||||||||||||||||
Total consumer | 478 | 77,168 | 77,646 | ||||||||||||||||||||||
Gross loans | 478 | 77,168 | 77,646 | ||||||||||||||||||||||
Deferred fee (income) costs, net | (0 | ) | (1 | ) | (1 | ) | |||||||||||||||||||
Allowance for loan losses | (0 | ) | (497 | ) | (497 | ) | |||||||||||||||||||
Total loans | $ | 478 | $ | 76,670 | $ | 77,148 | |||||||||||||||||||
Activity of Allowance for Loan Losses | ' | ||||||||||||||||||||||||
Set forth below is a summary of the Company’s activity in the allowance for loan losses during the years ended: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 12,228 | $ | 11,101 | $ | 9,408 | |||||||||||||||||||
Provision for loan losses | 2,095 | 3,900 | 4,617 | ||||||||||||||||||||||
Recoveries on loans previously charged off | 1,814 | 3,294 | 1,596 | ||||||||||||||||||||||
Charged off loans | (4,060 | ) | (6,067 | ) | (4,520 | ) | |||||||||||||||||||
Balance, end of period | $ | 12,077 | $ | 12,228 | $ | 11,101 | |||||||||||||||||||
Loan Balances and Related Allowance for Loan Losses, by Portfolio Type | ' | ||||||||||||||||||||||||
Set forth below is information regarding gross loan balances and the related allowance for loan losses, by portfolio type, for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||
Commercial | Residential | Consumer | Total | ||||||||||||||||||||||
Mortgages | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Balance at beginning of year | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Charge-offs | (470 | ) | (168 | ) | (3,422 | ) | (4,060 | ) | |||||||||||||||||
Recoveries | 116 | 143 | 1,555 | 1,814 | |||||||||||||||||||||
Provision | 90 | (506 | ) | 2,511 | 2,095 | ||||||||||||||||||||
Balance at end of year | $ | 5,987 | $ | 922 | $ | 5,168 | $ | 12,077 | |||||||||||||||||
Allowance balance at end of year related to: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Loans collectively evaluated for impairment | $ | 5,987 | $ | 922 | $ | 5,168 | $ | 12,077 | |||||||||||||||||
Loan balances at end of year: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 10,239 | $ | 6,412 | $ | 195 | $ | 16,846 | |||||||||||||||||
Loans collectively evaluated for impairment | 554,276 | 147,384 | 156,667 | 858,327 | |||||||||||||||||||||
Ending Balance | $ | 564,515 | $ | 153,796 | $ | 156,862 | $ | 875,173 | |||||||||||||||||
2012 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Balance at beginning of year | $ | 6,654 | $ | 318 | $ | 4,129 | $ | 11,101 | |||||||||||||||||
Charge-offs | (1,320 | ) | (68 | ) | (4,679 | ) | (6,067 | ) | |||||||||||||||||
Recoveries | 159 | 3 | 3,132 | 3,294 | |||||||||||||||||||||
Provision | 758 | 1,200 | 1,942 | 3,900 | |||||||||||||||||||||
Balance at end of year | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Allowance balance at end of year related to: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Loans collectively evaluated for impairment | $ | 6,251 | $ | 1,453 | $ | 4,524 | $ | 12,228 | |||||||||||||||||
Loan balances at end of year: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 9,367 | $ | 7,242 | $ | 234 | $ | 16,843 | |||||||||||||||||
Loans collectively evaluated for impairment | 447,954 | 158,743 | 139,405 | 746,102 | |||||||||||||||||||||
Ending Balance | $ | 457,321 | $ | 165,985 | $ | 139,639 | $ | 762,945 | |||||||||||||||||
Summary of Delinquency Status of Loans | ' | ||||||||||||||||||||||||
The following table provides a summary of the delinquency status of the Bank’s gross loans by portfolio type: | |||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days and | Total Past | Current | Total Loans | ||||||||||||||||||||
Past Due | Past Due | Greater | Due | Outstanding | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 159 | $ | 191 | $ | 217 | $ | 567 | $ | 182,797 | $ | 183,364 | |||||||||||||
Commercial mortgage | 201 | 771 | 4,659 | 5,631 | 374,823 | 380,454 | |||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | 697 | 697 | |||||||||||||||||||
Total commercial | 360 | 962 | 4,876 | 6,198 | 558,317 | 564,515 | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 10,663 | 4,742 | 3,887 | 19,292 | 133,465 | 152,757 | |||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | 1,039 | 1,039 | |||||||||||||||||||
Automobile | 178 | 13 | 13 | 204 | 7,065 | 7,269 | |||||||||||||||||||
Other consumer1 | 2,143 | 1,215 | 993 | 4,351 | 145,242 | 149,593 | |||||||||||||||||||
Total consumer | 12,984 | 5,970 | 4,893 | 23,847 | 286,811 | 310,658 | |||||||||||||||||||
Total | $ | 13,344 | $ | 6,932 | $ | 9,769 | $ | 30,045 | $ | 845,128 | $ | 875,173 | |||||||||||||
2012 | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 65 | $ | 222 | $ | 521 | $ | 808 | $ | 138,143 | $ | 138,951 | |||||||||||||
Commercial mortgage | 2,050 | 1,403 | 5,963 | 9,416 | 305,046 | 314,462 | |||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | 3,908 | 3,908 | |||||||||||||||||||
Total commercial | 2,115 | 1,625 | 6,484 | 10,224 | 447,097 | 457,321 | |||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 8,705 | 4,513 | 5,190 | 18,408 | 146,366 | 164,774 | |||||||||||||||||||
Home equity | 0 | 135 | 0 | 135 | 1,076 | 1,211 | |||||||||||||||||||
Automobile | 314 | 76 | 0 | 390 | 7,837 | 8,227 | |||||||||||||||||||
Other consumer 1 | 2,389 | 948 | 1,187 | 4,524 | 126,888 | 131,412 | |||||||||||||||||||
Total consumer | 11,408 | 5,672 | 6,377 | 23,457 | 282,167 | 305,624 | |||||||||||||||||||
Total | $ | 13,523 | $ | 7,297 | $ | 12,861 | $ | 33,681 | $ | 729,264 | $ | 762,945 | |||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
Loans on Non-Accrual Status, by Portfolio | ' | ||||||||||||||||||||||||
The following table provides information as of December 31, 2013 and 2012, with respect to loans on non-accrual status, by portfolio type: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-accrual loans: | |||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||
Commercial & industrial | $ | 343 | $ | 685 | |||||||||||||||||||||
Commercial mortgage | 6,344 | 7,977 | |||||||||||||||||||||||
Commercial construction | 0 | 0 | |||||||||||||||||||||||
Total commercial | 6,687 | 8,662 | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||
Residential mortgage | 6,351 | 7,166 | |||||||||||||||||||||||
Home equity | 62 | 76 | |||||||||||||||||||||||
Automobile | 0 | 0 | |||||||||||||||||||||||
Other consumer1 | 195 | 234 | |||||||||||||||||||||||
Total consumer | 6,608 | 7,476 | |||||||||||||||||||||||
Total non-accrual loans | $ | 13,295 | $ | 16,138 | |||||||||||||||||||||
1 | Comprised of other revolving credit, installment, and overdrafts. | ||||||||||||||||||||||||
Summary of Loans by Portfolio Type and Internal Credit Quality Ratings | ' | ||||||||||||||||||||||||
The following table provides a summary of loans by portfolio type and the Company’s internal credit quality ratings as of December 31, 2013 and 2012. | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | Increase (Decrease) | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Pass: | |||||||||||||||||||||||||
Commercial & industrial | $ | 170,388 | $ | 123,046 | $ | 47,342 | |||||||||||||||||||
Commercial mortgage | 349,906 | 290,307 | 59,599 | ||||||||||||||||||||||
Commercial construction | 697 | 3,908 | (3,211 | ) | |||||||||||||||||||||
Residential mortgage | 148,825 | 158,408 | (9,583 | ) | |||||||||||||||||||||
Home equity | 1,039 | 1,211 | (172 | ) | |||||||||||||||||||||
Automobile | 7,256 | 8,227 | (971 | ) | |||||||||||||||||||||
Other consumer | 148,757 | 130,345 | 18,412 | ||||||||||||||||||||||
Total pass loans | $ | 826,868 | $ | 715,452 | $ | 111,416 | |||||||||||||||||||
Special Mention: | |||||||||||||||||||||||||
Commercial & industrial | $ | 9,571 | $ | 3,752 | $ | 5,819 | |||||||||||||||||||
Commercial mortgage | 20,850 | 6,839 | 14,011 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 0 | 0 | ||||||||||||||||||||||
Total special mention loans | $ | 30,421 | $ | 10,591 | $ | 19,830 | |||||||||||||||||||
Substandard: | |||||||||||||||||||||||||
Commercial & industrial | $ | 3,360 | $ | 12,153 | $ | (8,793 | ) | ||||||||||||||||||
Commercial mortgage | 9,384 | 17,316 | (7,932 | ) | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 76 | 370 | (294 | ) | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 26 | (26 | ) | |||||||||||||||||||||
Total substandard loans | $ | 12,820 | $ | 29,865 | $ | (17,045 | ) | ||||||||||||||||||
Formula Classified: | |||||||||||||||||||||||||
Commercial & industrial | $ | 45 | $ | 0 | $ | 45 | |||||||||||||||||||
Commercial mortgage | 314 | 0 | 314 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 3,856 | 5,996 | (2,140 | ) | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 13 | 0 | 13 | ||||||||||||||||||||||
Other consumer | 836 | 1,041 | (205 | ) | |||||||||||||||||||||
Total formula classified loans | $ | 5,064 | $ | 7,037 | $ | (1,973 | ) | ||||||||||||||||||
Doubtful: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | ||||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | ||||||||||||||||||||||
Home equity | 0 | 0 | 0 | ||||||||||||||||||||||
Automobile | 0 | 0 | 0 | ||||||||||||||||||||||
Other consumer | 0 | 0 | 0 | ||||||||||||||||||||||
Total doubtful loans | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||||
Total outstanding loans, gross | $ | 875,173 | $ | 762,945 | $ | 112,228 | |||||||||||||||||||
Non-Accrual Loans and Restructured Loans | ' | ||||||||||||||||||||||||
The following table sets forth information regarding non-accrual loans and restructured loans, at December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||
Restructured Loans: | |||||||||||||||||||||||||
Non-accruing restructured loans | $ | 5,554 | $ | 5,970 | |||||||||||||||||||||
Accruing restructured loans | 3,551 | 705 | |||||||||||||||||||||||
Total restructured loans | 9,105 | 6,675 | |||||||||||||||||||||||
Other non-accruing impaired loans | 7,741 | 10,168 | |||||||||||||||||||||||
Other accruing impaired loans | 0 | 0 | |||||||||||||||||||||||
Total impaired loans | $ | 16,846 | $ | 16,843 | |||||||||||||||||||||
Impaired loans less than 90 days delinquent and included in total impaired loans | $ | 7,967 | $ | 6,058 | |||||||||||||||||||||
Information Related to Impaired Loans | ' | ||||||||||||||||||||||||
The table below contains additional information with respect to impaired loans, by portfolio type, for the years ended December 31, 2013 and 2012: | |||||||||||||||||||||||||
Recorded | Unpaid | Average | Interest | ||||||||||||||||||||||
Investment | Principal | Recorded | Income | ||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
December 31, 2013, With no related allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 3,459 | $ | 3,646 | $ | 3,231 | $ | 14 | |||||||||||||||||
Commercial mortgage | 6,780 | 8,495 | 7,400 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 6,351 | 6,449 | 6,594 | 0 | |||||||||||||||||||||
Home equity | 61 | 61 | 68 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 195 | 204 | 215 | 0 | |||||||||||||||||||||
Total impaired loans with no related allowance | $ | 16,846 | $ | 18,855 | $ | 17,508 | $ | 14 | |||||||||||||||||
December 31, 2013, With an allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
December 31, 2012, With no related allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 822 | $ | 975 | $ | 778 | $ | 29 | |||||||||||||||||
Commercial mortgage | 8,545 | 10,229 | 10,204 | 450 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 925 | 0 | |||||||||||||||||||||
Residential mortgage | 7,166 | 7,264 | 3,313 | 249 | |||||||||||||||||||||
Home equity | 76 | 76 | 33 | 2 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 234 | 243 | 191 | 8 | |||||||||||||||||||||
Total impaired loans with no related allowance | $ | 16,843 | $ | 18,787 | $ | 15,444 | $ | 738 | |||||||||||||||||
December 31, 2012, With an allowance recorded: | |||||||||||||||||||||||||
Commercial & industrial | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Commercial mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Commercial construction | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Residential mortgage | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Home equity | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Other consumer | 0 | 0 | 0 | 0 | |||||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
Troubled Debt Restructurings | ' | ||||||||||||||||||||||||
At December 31, 2012, the Bank carried $6.7 million of troubled debt restructurings. This increased by $2.4 million, to $9.1 million, by December 31, 2013, due primarily to two additional loans being restructured. | |||||||||||||||||||||||||
Number of | Pre- | Post- | Year Ended | Year Ended | |||||||||||||||||||||
Loans | Modification | Modification | December 31, | December 31, | |||||||||||||||||||||
Outstanding | Outstanding | 2013 | 2012 | ||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
Residential mortgage | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||
Commercial mortgage | 6 | 3,982 | 3,982 | 3,552 | 706 | ||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
Consumer | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
6 | 3,982 | 3,982 | 3,552 | 706 | |||||||||||||||||||||
Nonperforming | |||||||||||||||||||||||||
Residential mortgage | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||
Commercial mortgage | 7 | 10,120 | 8,805 | 5,554 | 5,970 | ||||||||||||||||||||
Automobile | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
Consumer | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||
7 | 10,120 | 8,805 | 5,554 | 5,970 | |||||||||||||||||||||
Total Troubled Debt Restructurings (TDRs) | 13 | $ | 14,102 | $ | 12,787 | $ | 9,106 | $ | 6,676 | ||||||||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||
Summary of Premises and Equipment | ' | ||||||||||||
A summary of premises and equipment at December 31, 2013 and 2012 follows: | |||||||||||||
December 31, 2013 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Depreciation | Value | ||||||||||||
Buildings | $ | 26,954 | $ | (16,725 | ) | $ | 10,229 | ||||||
Furniture and equipment | 24,807 | (19,404 | ) | 5,403 | |||||||||
Automobiles and mobile facilities | 1,063 | (724 | ) | 339 | |||||||||
Leasehold improvements | 4,317 | (3,076 | ) | 1,241 | |||||||||
57,141 | (39,929 | ) | 17,212 | ||||||||||
Construction in progress | 1,037 | 0 | 1,037 | ||||||||||
$ | 58,178 | $ | (39,929 | ) | $ | 18,249 | |||||||
31-Dec-12 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Depreciation | Value | ||||||||||||
Buildings | $ | 27,742 | $ | (16,448 | ) | $ | 11,294 | ||||||
Furniture and equipment | 24,489 | (20,454 | ) | 4,035 | |||||||||
Automobiles and mobile facilities | 1,056 | (906 | ) | 150 | |||||||||
Leasehold improvements | 4,402 | (2,936 | ) | 1,466 | |||||||||
57,689 | (40,744 | ) | 16,945 | ||||||||||
Construction in progress | 767 | 0 | 767 | ||||||||||
$ | 58,456 | $ | (40,744 | ) | $ | 17,712 | |||||||
Other_Assets_Tables
Other Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ||||||||
Summary of Other Assets | ' | ||||||||
A summary of other assets at December 31, 2013 and 2012 follows: | |||||||||
2013 | 2012 | ||||||||
Bank Owned Life Insurance | $ | 10,974 | $ | 10,635 | |||||
Prepaid income tax | 409 | 4,175 | |||||||
Prepaid expenses | 4,536 | 4,311 | |||||||
Prepaid FDIC assessments | 0 | 2,455 | |||||||
Other real estate owned, net (Note 9) | 4,610 | 4,384 | |||||||
Deferred tax asset, net (Note 13) | 5,603 | 3,741 | |||||||
Mortgage servicing rights | 1,354 | 1,285 | |||||||
Other | 692 | 1,324 | |||||||
$ | 28,178 | $ | 32,310 | ||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Other Real Estate Owned Presented Net of Allowance for Losses | ' | ||||||||||||
Other real estate owned is presented net of an allowance for losses. A summary of the changes in other real estate owned is as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Balance at beginning of year | $ | 4,384 | $ | 4,294 | |||||||||
Additions | 2,193 | 807 | |||||||||||
Sales | (896 | ) | (585 | ) | |||||||||
5,681 | 4,516 | ||||||||||||
Write-downs and loss on sale, net | (1,086 | ) | (11 | ) | |||||||||
Change in valuation allowances | 15 | (121 | ) | ||||||||||
Balance at end of year | $ | 4,610 | $ | 4,384 | |||||||||
Summary of Other Real Estate Owned Operations Included in Non-Interest Expenses | ' | ||||||||||||
A summary of other real estate owned operations, which are included in non-interest expenses, for the years ended December 31, 2013, 2012 and 2011, is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Other real estate owned operations, net | $ | 143 | $ | 96 | $ | 142 | |||||||
Loss (gain) on the sale of the other real estate owned | 127 | 74 | 103 | ||||||||||
Write-downs | 1,213 | (63 | ) | 22 | |||||||||
Change in valuation allowances | (15 | ) | 121 | 45 | |||||||||
Net losses from other real estate owned operations | $ | 1,468 | $ | 228 | $ | 312 | |||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Summary of Deposits | ' | ||||||||
A summary of deposits at December 31, 2013 and 2012, follows: | |||||||||
2013 | 2012 | ||||||||
Non-interest bearing deposits | $ | 321,408 | $ | 279,322 | |||||
Interest bearing deposits: | |||||||||
Demand deposits | 127,642 | 114,650 | |||||||
Regular savings | 534,530 | 481,062 | |||||||
Time deposits: | |||||||||
$100,000 or more | 43,299 | 48,503 | |||||||
Less than $100,000 | 12,553 | 11,971 | |||||||
Other interest bearing deposits | 144,013 | 167,032 | |||||||
862,037 | 823,218 | ||||||||
Total | $ | 1,183,445 | $ | 1,102,540 | |||||
Scheduled Maturities of Time Deposits | ' | ||||||||
At December 31, 2013, the scheduled maturities of time deposits were as follows: | |||||||||
Year ending December 31, | |||||||||
2014 | $ | 53,718 | |||||||
2015 | 947 | ||||||||
2016 | 534 | ||||||||
2017 | 272 | ||||||||
2018 and thereafter | 381 | ||||||||
$ | 55,852 | ||||||||
Transactions_with_Board_of_Dir1
Transactions with Board of Directors (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Summary of Loan Transactions with Board of Directors | ' | ||||||||
The following is a summary of loan transactions with the Board of Directors of the Company and certain of their associated businesses: | |||||||||
Years Ended December 31, | |||||||||
2013(1) | 2012(1) | ||||||||
(Dollars in thousands) | |||||||||
Beginning balance | $ | 5,234 | $ | 13,551 | |||||
Undisbursed commitments | 154 | (0 | ) | ||||||
New loans granted | 376 | 172 | |||||||
Principal repayments | (724 | ) | (8,489 | ) | |||||
Ending balance of term loans | $ | 5,040 | $ | 5,234 | |||||
Year-end balance of revolving accounts | 5,751 | 2,099 | |||||||
Total term loans and revolving accounts | $ | 10,791 | $ | 7,333 | |||||
(1) | There were four new loans of $376 thousand made and outstanding to executive officers who are also directors at December 31, 2013, as compared to December 31, 2012 which reported a new loans of $172 thousand. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Components of Income Tax Provision | ' | ||||||||||||
The income tax provision includes the following components: | |||||||||||||
For the Years | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Government of Guam tax expense (benefit): | |||||||||||||
Current | $ | 3,995 | $ | 3,728 | $ | 2,174 | |||||||
Deferred | (232 | ) | (644 | ) | (1,710 | ) | |||||||
Foreign income taxes (including U.S. income taxes) | 317 | 340 | 294 | ||||||||||
Total income tax expense | $ | 4,080 | $ | 3,424 | $ | 758 | |||||||
Summary of Differences between Statutory Federal Income Tax Rate and Effective Tax Rates | ' | ||||||||||||
The reasons for the differences between the statutory federal income tax rate and the effective tax rates are summarized as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory Guam income tax rate | 34 | % | 34 | % | 34 | % | |||||||
Permanent differences | (5.5 | )% | (6.8 | )% | (16.6 | )% | |||||||
Other | 0.8 | % | 1.1 | % | (5.7 | )% | |||||||
Total income tax expense | 29.3 | % | 28.3 | % | 11.7 | % | |||||||
Components of Deferred Income Taxes | ' | ||||||||||||
The components of deferred income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Deferred loan origination fees | $ | (115 | ) | $ | (148 | ) | $ | (24 | ) | ||||
Mortgage servicing rights | 24 | 89 | 34 | ||||||||||
Loan loss provision | 53 | (388 | ) | (629 | ) | ||||||||
Deferred rent obligation | (22 | ) | (24 | ) | (28 | ) | |||||||
Other real estate owned valuation | 50 | (24 | ) | 37 | |||||||||
Fixed assets | 22 | 23 | (590 | ) | |||||||||
FAS 123R | (7 | ) | (4 | ) | (401 | ) | |||||||
SERP | (237 | ) | (168 | ) | (109 | ) | |||||||
Net operating loss | (1,974 | ) | (2,405 | ) | (2,812 | ) | |||||||
Change in valuation allowance | 1,974 | 2,405 | 2,812 | ||||||||||
Deferred tax (benefit) provision | $ | (232 | ) | $ | (644 | ) | $ | (1,710 | ) | ||||
Components of Net Deferred Tax Asset | ' | ||||||||||||
The components of the net deferred tax asset are as follows: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax asset: | |||||||||||||
Allowance for loan losses | $ | 4,164 | $ | 4,216 | |||||||||
Net operating loss | 1,974 | 2,405 | |||||||||||
Loan origination fees | 765 | 650 | |||||||||||
FAS 123R | 412 | 405 | |||||||||||
Net unrealized loss on securities held-to-maturity | 1,108 | 143 | |||||||||||
Net unrealized gain on securities available-for-sale | 786 | 0 | |||||||||||
Deferred rent obligation | 262 | 241 | |||||||||||
Accruals not currently deductible | 512 | 326 | |||||||||||
Total deferred tax asset | 9,983 | 8,386 | |||||||||||
Deferred tax liability: | |||||||||||||
Fixed assets | (917 | ) | (895 | ) | |||||||||
Net unrealized loss on securities available-for-sale | 0 | (902 | ) | ||||||||||
Mortgage servicing rights | (467 | ) | (443 | ) | |||||||||
Total deferred tax liability | (1,384 | ) | (2,240 | ) | |||||||||
Valuation allowance | (1,974 | ) | (2,405 | ) | |||||||||
Net deferred tax asset | $ | 6,625 | $ | 3,741 | |||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Postemployment Benefits [Abstract] | ' | ||||||||
Changes in Projected Benefit Obligation of Other Benefits under Plan and its Funded Status | ' | ||||||||
The changes in the projected benefit obligation of other benefits under the Plan during 2012 and 2013, its funded status at December 31, 2012 and 2013, and the amounts recognized in the balance sheet at December 31, 2012 and 2013, were as follows: | |||||||||
At December 31, | |||||||||
2013 | 2012 | ||||||||
Change in benefit obligation: | |||||||||
Benefit obligation at beginning of period | $ | 772 | $ | 318 | |||||
Service cost | 642 | 454 | |||||||
Interest cost | 0 | 0 | |||||||
Participant contributions | 0 | 0 | |||||||
Plan amendments | 0 | 0 | |||||||
Combination/divestiture/curtailment/settlement/termination | 0 | 0 | |||||||
Actuarial loss/(gain) | 0 | 0 | |||||||
(Benefits paid) | 0 | 0 | |||||||
Benefit obligation at end of period | $ | 1,414 | $ | 772 | |||||
Funded status: | |||||||||
Amounts recognized in the Statement of Financial Condition | |||||||||
Unfunded accrued SERP liability—current | $ | 1,414 | $ | 772 | |||||
Unfunded accrued SERP liability—noncurrent | 0 | 0 | |||||||
Total unfunded accrued SERP liability | $ | 1,414 | $ | 772 | |||||
Net amount recognized in accumulated other comprehensive income | |||||||||
Prior service cost/(benefit) | $ | 0 | $ | 0 | |||||
Net actuarial loss/(gain) | 0 | 0 | |||||||
Total net amount recognized in accumulated other comprehensive income | $ | 0 | $ | 0 | |||||
Accumulated benefit obligation | $ | 1,414 | $ | 772 | |||||
Components of net periodic SERP cost YTD: | |||||||||
Service cost | $ | 642 | $ | 454 | |||||
Interest cost | 0 | 0 | |||||||
Expected return on plan assets | 0 | 0 | |||||||
Amortization of prior service cost/(benefit) | 0 | 0 | |||||||
Amortization of net actuarial loss/(gain) | 0 | 0 | |||||||
Net periodic SERP cost | $ | 642 | $ | 454 | |||||
Recognized in other comprehensive income YTD: | |||||||||
Prior service cost/(benefit) | $ | 0 | $ | 0 | |||||
Net actuarial loss/(gain) | 0 | 0 | |||||||
Amortization of prior service cost/(benefit) | 0 | 0 | |||||||
Amortization of net actuarial loss/(gain) | 0 | 0 | |||||||
Total recognized year to date in other comprehensive income | $ | 0 | $ | 0 | |||||
Assumptions as of December 31,: | |||||||||
Assumed discount rate | 4.33 | % | 6.17 | % | |||||
Rate of compensation increase | 0 | % | 0 | % |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Summary of Earnings Per Common Share | ' | ||||||||||||
Earnings per common share have been computed based on reported net income and the following share data: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income available for common stockholders | $ | 9,868 | $ | 8,620 | $ | 5,734 | |||||||
Weighted average number of common shares outstanding | 8,790 | 8,779 | 8,752 | ||||||||||
Effect of dilutive options | 0 | 1 | 1,820 | ||||||||||
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 8,790 | 8,780 | 10,572 | ||||||||||
Income per common share: | |||||||||||||
Basic | $ | 1.12 | $ | 0.98 | $ | 0.66 | |||||||
Diluted | $ | 1.12 | $ | 0.98 | $ | 0.54 | |||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||
Summary of Financial Instruments with Off-Balance-Sheet Risk | ' | ||||||||||||
A summary of financial instruments with off-balance-sheet risk at December 31, 2013 and 2012 is as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Commitments to extend credit | $ | 121,618 | $ | 100,007 | |||||||||
Letters of credit: | |||||||||||||
Standby letters of credit | $ | 47,543 | $ | 26,178 | |||||||||
Other letters of credit | 2,582 | 3,030 | |||||||||||
$ | 50,125 | $ | 29,208 | ||||||||||
Annual Lease Commitments | ' | ||||||||||||
At December 31, 2013, annual lease commitments under the above noncancelable operating leases were as follows: | |||||||||||||
Years ending December 31, | |||||||||||||
2014 | $ | 1,457 | |||||||||||
2015 | 1,072 | ||||||||||||
2016 | 886 | ||||||||||||
2017 | 697 | ||||||||||||
2018 and thereafter | 19,046 | ||||||||||||
$ | 23,158 | ||||||||||||
Summary of Rental Activities | ' | ||||||||||||
A summary of rental activities for years ended December 31, 2013, 2012 and 2011, is as follows: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Rent expense | $ | 2,343 | $ | 2,293 | $ | 2,309 | |||||||
Less: sublease rentals | 268 | 257 | 254 | ||||||||||
Net rent expense | $ | 2,075 | $ | 2,036 | $ | 2,055 | |||||||
Minimum_Regulatory_Capital_Req1
Minimum Regulatory Capital Requirements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Summary of Bank's Actual Capital Amounts and Ratios | ' | ||||||||||||||||||||||||
The Bank’s actual capital amounts and ratios as of December 31, 2013 and 2012 are also presented in the table. | |||||||||||||||||||||||||
Actual Capital | For Capital Adequacy | To Be Well Capitalized | |||||||||||||||||||||||
Purposes | Under Prompt Corrective | ||||||||||||||||||||||||
Action Provisions | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
As of December 31, 2013: | |||||||||||||||||||||||||
Total capital (to Risk Weighted Assets) | $ | 108,238 | 12.53 | % | $ | 69,114 | 8 | % | $ | 86,392 | 10 | % | |||||||||||||
Tier 1 capital (to Risk Weighted Assets) | $ | 97,563 | 11.43 | % | $ | 34,130 | 4 | % | $ | 51,195 | 6 | % | |||||||||||||
Tier 1 capital (to Average Assets) | $ | 97,563 | 7.6 | % | $ | 51,320 | 4 | % | $ | 64,151 | 5 | % | |||||||||||||
As of December 31, 2012: | |||||||||||||||||||||||||
Total capital (to Risk Weighted Assets) | $ | 101,489 | 13.51 | % | $ | 60,094 | 8 | % | $ | 75,118 | 10 | % | |||||||||||||
Tier 1 capital (to Risk Weighted Assets) | $ | 92,206 | 12.43 | % | $ | 29,676 | 4 | % | $ | 44,514 | 6 | % | |||||||||||||
Tier 1 capital (to Average Assets) | $ | 92,206 | 7.4 | % | $ | 49,854 | 4 | % | $ | 62,317 | 5 | % |
Parent_Company_Only_Informatio1
Parent Company Only Information (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Parent Company Annual Financial Information | ' | ||||||||
Condensed Statements of Financial Condition | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Assets | |||||||||
Due from subsidiary depository institution | $ | 222 | $ | 92 | |||||
Investment in subsidiary | 93,587 | 94,452 | |||||||
Other assets | 3 | 39 | |||||||
Total assets | $ | 93,812 | $ | 94,583 | |||||
Liabilities and stockholders’ equity | |||||||||
Liabilities | $ | 2 | $ | 148 | |||||
Stockholders’ equity | 93,810 | 94,435 | |||||||
Total liabilities and stockholders’ equity | $ | 93,812 | $ | 94,583 | |||||
Summary of Statements of Income | ' | ||||||||
Condensed Statements of Income | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Dividend income | $ | 4,658 | $ | 4,741 | |||||
Interest expense | 0 | 5 | |||||||
Other expenses | 185 | 230 | |||||||
Equity in undistributed income of subsidiary | 5,395 | 4,114 | |||||||
Net income | $ | 9,868 | $ | 8,620 | |||||
Summary of Statements of Cash Flows | ' | ||||||||
Condensed Statements of Cash Flows | |||||||||
(Dollars in thousands) | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Cash flows from operating activities: | |||||||||
Net income | $ | 9,868 | $ | 8,620 | |||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||
Undistributed (earnings) losses of subsidiary | (5,395 | ) | (4,114 | ) | |||||
Net increase (decrease) in other liabilities | 0 | (13 | ) | ||||||
Net cash provided by operating activities | 4,473 | 4,493 | |||||||
Cash Flows from Financing Activities: | |||||||||
Cash dividends paid | (4,395 | ) | (4,390 | ) | |||||
Net change in other short-term borrowings | (145 | ) | (55 | ) | |||||
Proceeds from issuance of common stock | 197 | 0 | |||||||
Net cash used in financing activities | (4,343 | ) | (4,445 | ) | |||||
Net change in cash and cash equivalents | 130 | 48 | |||||||
Cash and Cash Equivalents, beginning of period | 92 | 44 | |||||||
Cash and Cash Equivalents, end of period | $ | 222 | $ | 92 | |||||
Fair_Value_of_Assets_and_Liabi1
Fair Value of Assets and Liabilities (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Summary of Financial Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012, are as follows: | |||||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | ||||||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
December 31, 2013 | |||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
U.S. government agency pool securities | 0 | 54,292 | 0 | 54,292 | |||||||||||||
U.S. government agency of GSE | 0 | 128,540 | 0 | 128,540 | |||||||||||||
Other assets: | |||||||||||||||||
MSRs | 0 | 0 | 1,354 | 1,354 | |||||||||||||
Total assets | $ | 0 | $ | 182,832 | $ | 1,354 | $ | 184,186 | |||||||||
December 31, 2012 | |||||||||||||||||
U.S. government agency and sponsored enterprise (GSE) debt securities | $ | 0 | $ | 60,145 | $ | 0 | $ | 60,145 | |||||||||
U.S. government agency pool securities | 0 | 73,798 | 0 | 73,798 | |||||||||||||
U.S. government agency of GSE | 0 | 139,579 | 0 | 139,579 | |||||||||||||
Other assets: | |||||||||||||||||
MSRs | 0 | 0 | 1,285 | 1,285 | |||||||||||||
Total assets | $ | 0 | $ | 273,522 | $ | 1,285 | $ | 274,807 | |||||||||
Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
During the periods ended December 31, 2013, 2012 and 2011, the changes in Level 3 assets measured at fair value on a recurring basis are as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Beginning balance | $ | 1,285 | $ | 1,028 | $ | 942 | |||||||||||
Realized and unrealized net gains: | |||||||||||||||||
Included in net income | 69 | 257 | 86 | ||||||||||||||
Included in other comprehensive income | 0 | 0 | 0 | ||||||||||||||
Purchases, sales and issuances | |||||||||||||||||
Purchases | (31,546 | ) | (31,391 | ) | (28,098 | ) | |||||||||||
Sales | 31,546 | 31,391 | 28,098 | ||||||||||||||
Issuances | 0 | 0 | 0 | ||||||||||||||
Ending balance | $ | 1,354 | $ | 1,285 | $ | 1,028 | |||||||||||
Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||
The following table presents the financial instruments carried on the consolidated statements of condition by caption and by level in the fair value hierarchy at December 31, 2013 and 2012, for which a nonrecurring change in fair value has been recorded: | |||||||||||||||||
Quoted Prices in | Significant Other | Significant | Total | ||||||||||||||
Active Markets for | Observable Inputs | Unobservable | |||||||||||||||
Identical Assets | (Level 2) | Inputs | |||||||||||||||
(Level 1) | (Level 3) | ||||||||||||||||
December 31, 2013 | |||||||||||||||||
Financial assets: | |||||||||||||||||
Loans, net | |||||||||||||||||
Impaired loans | $ | 0 | $ | 364 | $ | 0 | $ | 364 | |||||||||
Other assets | |||||||||||||||||
Other real estate owned | $ | 0 | $ | 4,610 | $ | 0 | $ | 4,610 | |||||||||
December 31, 2012 | |||||||||||||||||
Financial assets: | |||||||||||||||||
Loans, net | |||||||||||||||||
Impaired loans | $ | 0 | $ | 250 | $ | 0 | $ | 250 | |||||||||
Other assets | |||||||||||||||||
Other real estate owned | $ | 0 | $ | 4,384 | $ | 0 | $ | 4,384 | |||||||||
Fair Value of Other Financial Instruments | ' | ||||||||||||||||
The estimated fair values of the Bank’s other financial instruments, excluding those assets recorded at fair value on a recurring basis on the Bank’s consolidated statements of condition, are as follows: | |||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Financial assets: | |||||||||||||||||
Cash and cash equivalents | $ | 96,583 | $ | 96,583 | $ | 74,189 | $ | 74,189 | |||||||||
Interest bearing deposits with banks | $ | 400 | $ | 400 | $ | 150 | $ | 150 | |||||||||
Investment securities held-to-maturity | $ | 88,989 | $ | 88,820 | $ | 58,125 | $ | 60,221 | |||||||||
Loans | $ | 875,173 | $ | 859,808 | $ | 762,945 | $ | 746,848 | |||||||||
Accrued interest receivable | $ | 4,013 | $ | 4,013 | $ | 3,599 | $ | 3,599 | |||||||||
Financial liabilities: | |||||||||||||||||
Deposits | $ | 1,183,445 | $ | 1,185,531 | $ | 1,102,540 | $ | 1,107,142 | |||||||||
Accrued interest payable | $ | 164 | $ | 164 | $ | 161 | $ | 161 | |||||||||
Federal Home Loan Bank advances | $ | 0 | $ | 0 | $ | 10,000 | $ | 10,000 |
Nature_of_Business_Additional_
Nature of Business - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Branch | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Number of branches | 23 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Federal Reserve System cash reserves | $18,613,000 | $18,066,000 | ' |
Interest bearing deposits with other banks, maturity period | '90 days | ' | ' |
Interest-bearing deposits in banks maximum maturity period | '1 year | ' | ' |
Loss sharing arrangement description | 'If the Bank has credit losses, net of recoveries, of greater than 0.50% of the remaining portfolio in any given year, Wells Fargo Finance will cover those net losses in an amount up to $320 thousand per year for five years. | ' | ' |
Minimum net credit loss percentage considered under loss sharing arrangement | 0.50% | ' | ' |
Maximum net credit losses covered per year under loss sharing arrangement | 320,000 | ' | ' |
Loss sharing arrangement net credit losses recovery period | '5 years | ' | ' |
Mortgage loans held for sale | $31,500,000 | $31,400,000 | $28,100,000 |
Income taxes examination likelihood of realization settlement percentage | 50.00% | ' | ' |
Minimum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Foreign income tax effective rate | 2.00% | ' | ' |
Minimum [Member] | Premises [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful live | '15 years | ' | ' |
Minimum [Member] | Furniture and Equipment [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful live | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Foreign income tax effective rate | 5.00% | ' | ' |
Maximum [Member] | Premises [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful live | '40 years | ' | ' |
Maximum [Member] | Furniture and Equipment [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful live | '10 years | ' | ' |
InterestBearing_Deposits_and_R1
Interest-Bearing Deposits and Restricted Cash - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Interest bearing deposits at other financial institutions | $64,441 | $32,614 |
Weighted average percentage yields Interest bearing deposits at other financial institutions | 0.25% | 0.41% |
Restricted cash | $400 | $150 |
Maturity of time deposits | '1 year | ' |
Weighted average percentage yields of restricted cash deposits | 0.37% | 0.32% |
Investment_Securities_Summary_
Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities, with Gross Unrealized Gains and Losses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | $185,144 | $270,868 |
Securities Available for Sale, Gross Unrealized Gains | 234 | 3,084 |
Securities Available for Sale, Gross Unrealized Losses | -2,546 | -430 |
Securities Available for Sale, Fair Value | 182,832 | 273,522 |
Securities Held to Maturity, Amortized Cost | 88,989 | 58,125 |
Securities Held to Maturity, Gross Unrealized Gains | 944 | 2,099 |
Securities Held to Maturity, Gross Unrealized Losses | -1,113 | -3 |
Securities Held to Maturity, Fair Value | 88,820 | 60,221 |
U.S. Government Agency Pool Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 54,733 | 73,663 |
Securities Available for Sale, Gross Unrealized Gains | 122 | 275 |
Securities Available for Sale, Gross Unrealized Losses | -563 | -140 |
Securities Available for Sale, Fair Value | 54,292 | 73,798 |
Securities Held to Maturity, Amortized Cost | 1,641 | 1,966 |
Securities Held to Maturity, Gross Unrealized Gains | 24 | 45 |
Securities Held to Maturity, Gross Unrealized Losses | -12 | -3 |
Securities Held to Maturity, Fair Value | 1,653 | 2,008 |
U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 130,411 | 137,282 |
Securities Available for Sale, Gross Unrealized Gains | 112 | 2,449 |
Securities Available for Sale, Gross Unrealized Losses | -1,983 | -152 |
Securities Available for Sale, Fair Value | 128,540 | 139,579 |
Securities Held to Maturity, Amortized Cost | 54,524 | 56,159 |
Securities Held to Maturity, Gross Unrealized Gains | 920 | 2,054 |
Securities Held to Maturity, Gross Unrealized Losses | -586 | 0 |
Securities Held to Maturity, Fair Value | 54,858 | 58,213 |
U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | ' | 59,923 |
Securities Available for Sale, Gross Unrealized Gains | ' | 360 |
Securities Available for Sale, Gross Unrealized Losses | ' | -138 |
Securities Available for Sale, Fair Value | ' | 60,145 |
Securities Held to Maturity, Amortized Cost | 32,824 | ' |
Securities Held to Maturity, Gross Unrealized Gains | 0 | ' |
Securities Held to Maturity, Gross Unrealized Losses | -515 | ' |
Securities Held to Maturity, Fair Value | $32,309 | ' |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 26, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Security | Securities | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities, carrying value | ' | $170,468 | $142,300 | ' |
Proceeds from sales of available-for-sale securities | ' | 131,983 | 141,379 | 219,457 |
Gross realized gains | ' | 916 | 1,332 | 1,574 |
Gross realized losses | ' | 288 | 47 | 232 |
Gross unrealized gains | ' | 234 | 3,084 | 1,387 |
Gross unrealized losses | ' | 2,546 | 430 | 200 |
Book value of Available-for-Sale securities transferred | $49,000 | $182,832 | $273,522 | ' |
Number of securities transferred | 10 | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 61 | ' | ' |
FNMA One-time Callable Bonds [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Number of securities transferred | 7 | ' | ' | ' |
FNMA Delegated Underwriting and Servicing Bonds [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Number of securities transferred | 3 | ' | ' | ' |
Small Business Administration (SBA) Pool Securities [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 17 | ' | ' |
FNMA Mortgage-Backed Securities [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 12 | ' | ' |
FHLMC Mortgage-Backed Securities [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 6 | ' | ' |
GNMA Mortgage-Backed Securities [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 19 | ' | ' |
U.S. Government Agency Securities Issued by FNMA [Member] | ' | ' | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' |
Investment securities in unrealized loss position were other-than-temporarily impaired | ' | 7 | ' | ' |
Investment_Securities_Summary_1
Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | $185,144 | $270,868 |
Securities Available for Sale, Fair Value | 182,832 | 273,522 |
Securities Held to Maturity, Amortized Cost | 88,989 | 58,125 |
Securities Held to Maturity, Fair Value | 88,820 | 60,221 |
Due After One But Within Five Years [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 0 | 4,997 |
Securities Available for Sale, Fair Value | 0 | 5,035 |
Securities Held to Maturity, Amortized Cost | 0 | 0 |
Securities Held to Maturity, Fair Value | 0 | 0 |
Due After Five Years [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 0 | 54,926 |
Securities Available for Sale, Fair Value | 0 | 55,110 |
Securities Held to Maturity, Amortized Cost | 32,824 | 0 |
Securities Held to Maturity, Fair Value | 32,309 | 0 |
U.S. Government Agency Pool Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 54,733 | 73,663 |
Securities Available for Sale, Fair Value | 54,292 | 73,798 |
Securities Held to Maturity, Amortized Cost | 1,641 | 1,966 |
Securities Held to Maturity, Fair Value | 1,653 | 2,008 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Amortized Cost | 130,411 | 137,282 |
Securities Available for Sale, Fair Value | 128,540 | 139,579 |
Securities Held to Maturity, Amortized Cost | 54,524 | 56,159 |
Securities Held to Maturity, Fair Value | $54,858 | $58,213 |
Investment_Securities_Summary_2
Investment Securities - Summary of Gross Unrealized Losses and Fair Value of Investments, with Unrealized Losses of Temporarily Impaired Securities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | ($2,462) | ($413) |
Securities Available for Sale, Fair Value, Less Than Twelve Months | 150,935 | 85,177 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | -84 | -17 |
Securities Available for Sale, Fair Value, More Than Twelve Months | 10,449 | 3,292 |
Securities Available for Sale, Unrealized Loss, Total | -2,546 | -430 |
Securities Available for Sale, Fair Value, Total | 161,384 | 88,469 |
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | -1,109 | 0 |
Securities Held to Maturity, Fair Value, Less Than Twelve Months | 51,383 | 29 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | -4 | -3 |
Securities Held to Maturity, Fair Value, More Than Twelve Months | 284 | 302 |
Securities Held to Maturity, Unrealized Loss, Total | -1,113 | -3 |
Securities Held to Maturity, Fair Value, Total | 51,667 | 331 |
U.S. Government Agency Pool Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | -505 | -139 |
Securities Available for Sale, Fair Value, Less Than Twelve Months | 42,298 | 29,921 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | -58 | -1 |
Securities Available for Sale, Fair Value, More Than Twelve Months | 4,843 | 76 |
Securities Available for Sale, Unrealized Loss, Total | -563 | -140 |
Securities Available for Sale, Fair Value, Total | 47,141 | 29,997 |
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | -8 | 0 |
Securities Held to Maturity, Fair Value, Less Than Twelve Months | 304 | 29 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | -4 | -3 |
Securities Held to Maturity, Fair Value, More Than Twelve Months | 284 | 302 |
Securities Held to Maturity, Unrealized Loss, Total | -12 | -3 |
Securities Held to Maturity, Fair Value, Total | 588 | 331 |
U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | -1,957 | -136 |
Securities Available for Sale, Fair Value, Less Than Twelve Months | 108,637 | 25,420 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | -26 | -16 |
Securities Available for Sale, Fair Value, More Than Twelve Months | 5,606 | 3,216 |
Securities Available for Sale, Unrealized Loss, Total | -1,983 | -152 |
Securities Available for Sale, Fair Value, Total | 114,243 | 28,636 |
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | -586 | 0 |
Securities Held to Maturity, Fair Value, Less Than Twelve Months | 18,770 | 0 |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | 0 | 0 |
Securities Held to Maturity, Fair Value, More Than Twelve Months | 0 | 0 |
Securities Held to Maturity, Unrealized Loss, Total | -586 | 0 |
Securities Held to Maturity, Fair Value, Total | 18,770 | 0 |
U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items] | ' | ' |
Securities Available for Sale, Unrealized Loss, Less Than Twelve Months | ' | -138 |
Securities Available for Sale, Fair Value, Less Than Twelve Months | ' | 29,836 |
Securities Available for Sale, Unrealized Loss, More Than Twelve Months | ' | 0 |
Securities Available for Sale, Fair Value, More Than Twelve Months | ' | 0 |
Securities Available for Sale, Unrealized Loss, Total | ' | -138 |
Securities Available for Sale, Fair Value, Total | ' | 29,836 |
Securities Held to Maturity, Unrealized Loss, Less Than Twelve Months | -515 | ' |
Securities Held to Maturity, Fair Value, Less Than Twelve Months | 32,309 | ' |
Securities Held to Maturity, Unrealized Loss, More Than Twelve Months | 0 | ' |
Securities Held to Maturity, Fair Value, More Than Twelve Months | 0 | ' |
Securities Held to Maturity, Unrealized Loss, Total | -515 | ' |
Securities Held to Maturity, Fair Value, Total | $32,309 | ' |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Commercial Mortgage Delinquencies [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial Construction Loans [Member] | Commercial Construction Loans [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Home Equity [Member] | Home Equity [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Consumer [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Pass [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Substandard [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Special Mention [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | Formula Classified [Member] | ||||||
Residential Mortgage [Member] | Residential Mortgage [Member] | Automobile [Member] | Automobile [Member] | Home Equity [Member] | Home Equity [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial Construction Loans [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Home Equity [Member] | Home Equity [Member] | Consumer [Member] | Minimum [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Home Equity [Member] | Home Equity [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Home Equity [Member] | Home Equity [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Home Equity [Member] | Home Equity [Member] | ||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred fee (income) costs, net | ' | $2,213,000 | $1,885,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in total gross loans | ' | 112,228,000 | ' | ' | ' | -3,800,000 | 749,000 | ' | -9,600,000 | 66,000,000 | ' | 44,400,000 | ' | -3,200,000 | ' | -971,000 | ' | 18,200,000 | ' | ' | ' | -12,000,000 | ' | -958,000 | ' | -172,000 | ' | 111,416,000 | ' | -9,583,000 | ' | 59,599,000 | ' | ' | 47,342,000 | ' | -3,200,000 | -971,000 | ' | 18,412,000 | ' | -172,000 | ' | 18,400,000 | ' | -17,045,000 | ' | -294,000 | ' | -7,932,000 | ' | -8,793,000 | ' | 0 | ' | -26,000 | ' | 0 | ' | 19,830,000 | ' | 0 | ' | 14,011,000 | ' | 5,819,000 | ' | 0 | ' | 0 | ' | 0 | ' | -1,973,000 | ' | -2,140,000 | -2,000,000 | 314,000 | ' | 45,000 | ' | 13,000 | ' | -205,000 | ' | 0 | ' |
Loans and Leases Receivable Gross Carrying Amount | ' | 875,173,000 | 762,945,000 | ' | ' | ' | 153,796,000 | 165,985,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 152,800,000 | 164,800,000 | ' | ' | 1,000,000 | 1,200,000 | 826,868,000 | 715,452,000 | 148,825,000 | 158,408,000 | 349,906,000 | ' | 290,307,000 | 170,388,000 | 123,046,000 | ' | 7,256,000 | 8,227,000 | 148,757,000 | 130,345,000 | 1,039,000 | 1,211,000 | ' | ' | 12,820,000 | 29,865,000 | 76,000 | 370,000 | 9,384,000 | 17,316,000 | 3,360,000 | 12,153,000 | 0 | 0 | 0 | 26,000 | 0 | 0 | 30,421,000 | 10,591,000 | 0 | 0 | 20,850,000 | 6,839,000 | 9,571,000 | 3,752,000 | 0 | 0 | 0 | 0 | 0 | 0 | 5,064,000 | 7,037,000 | 3,856,000 | 5,996,000 | 314,000 | 0 | 45,000 | 0 | 13,000 | 0 | 836,000 | 1,041,000 | 0 | 0 |
Consumer loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 380,500,000 | 314,500,000 | 183,400,000 | 139,000,000 | 697,000 | 3,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | 7,300,000 | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable Gross Carrying Amount | ' | 310,658,000 | 305,624,000 | ' | ' | ' | 152,757,000 | 164,774,000 | ' | ' | ' | ' | ' | ' | ' | 7,269,000 | 8,227,000 | 149,593,000 | 131,412,000 | 1,039,000 | 1,211,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
All loans and credit cards delinquent | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Real estate loans delinquent | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Delinquent real estate loans foreclosure completion period | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for loans delinquent under formula category | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | 151,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bank outstanding loan delinquency rate | ' | 3.40% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrual of interest payments on loan | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in total gross loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | 1,200,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Downgrade of various loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial and Industrial offset by up gradation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in loan relationship | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of loans | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowances Carried over or initially recorded of a portfolio of loans from Wells Fargo | ' | 12,077,000 | 12,228,000 | 11,101,000 | 9,408,000 | ' | 922,000 | 1,453,000 | 318,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled Debt Restructurings (TDRs) | ' | 9,105,000 | 6,675,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increased in Troubled debt restructurings | ' | $2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Loan_Portfolio_Detail
Loans - Loan Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Commercial, Amount | $564,515 | $457,321 | ' | ' |
Consumer, Amount | 310,658 | 305,624 | ' | ' |
Gross loans, Total Amount | 875,173 | 762,945 | ' | ' |
Deferred fee (income) costs, net | -2,213 | -1,885 | ' | ' |
Allowance for loan losses | -12,077 | -12,228 | -11,101 | -9,408 |
Loans, net | 860,883 | 748,832 | ' | ' |
Commercial, Percentage | 64.50% | 59.90% | ' | ' |
Consumer, Percentage | 35.50% | 40.10% | ' | ' |
Gross loans, Total Percentage | 100.00% | 100.00% | ' | ' |
Commercial & Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Commercial, Amount | 183,364 | 138,951 | ' | ' |
Commercial, Percentage | 21.00% | 18.20% | ' | ' |
Commercial Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Commercial, Amount | 380,454 | 314,462 | ' | ' |
Commercial, Percentage | 43.40% | 41.20% | ' | ' |
Commercial Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Commercial, Amount | 697 | 3,908 | ' | ' |
Commercial, Percentage | 0.10% | 0.50% | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 152,757 | 164,774 | ' | ' |
Gross loans, Total Amount | 153,796 | 165,985 | ' | ' |
Allowance for loan losses | -922 | -1,453 | -318 | ' |
Consumer, Percentage | 17.50% | 21.60% | ' | ' |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 1,039 | 1,211 | ' | ' |
Consumer, Percentage | 0.10% | 0.20% | ' | ' |
Automobile [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 7,269 | 8,227 | ' | ' |
Consumer, Percentage | 0.80% | 1.10% | ' | ' |
Other Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | $149,593 | $131,412 | ' | ' |
Consumer, Percentage | 17.10% | 17.20% | ' | ' |
Loans_Certain_Loans_Acquired_i
Loans - Certain Loans Acquired in Acquisition of Portfolio of Loans from Wells Fargo (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | $310,658 | $305,624 | ' | ' |
Gross loans, Total Amount | 875,173 | 762,945 | ' | ' |
Deferred fee (income) costs, net | -2,213 | -1,885 | ' | ' |
Allowance for loan losses | -12,077 | -12,228 | -11,101 | -9,408 |
Loans, net | 860,883 | 748,832 | ' | ' |
Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 77,646 | ' | ' | ' |
Gross loans, Total Amount | 77,646 | ' | ' | ' |
Deferred fee (income) costs, net | -1 | ' | ' | ' |
Allowance for loan losses | -497 | ' | ' | ' |
Loans, net | 77,148 | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 152,757 | 164,774 | ' | ' |
Gross loans, Total Amount | 153,796 | 165,985 | ' | ' |
Allowance for loan losses | -922 | -1,453 | -318 | ' |
Residential Mortgage [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 77,168 | ' | ' | ' |
Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 1,039 | 1,211 | ' | ' |
Home Equity [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
Automobile [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 7,269 | 8,227 | ' | ' |
Automobile [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
Other Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 149,593 | 131,412 | ' | ' |
Other Consumer [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 478 | ' | ' | ' |
ASC 310-30 Loans [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 478 | ' | ' | ' |
Gross loans, Total Amount | 478 | ' | ' | ' |
Deferred fee (income) costs, net | 0 | ' | ' | ' |
Allowance for loan losses | 0 | ' | ' | ' |
Loans, net | 478 | ' | ' | ' |
ASC 310-30 Loans [Member] | Residential Mortgage [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
ASC 310-30 Loans [Member] | Home Equity [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
ASC 310-30 Loans [Member] | Automobile [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
ASC 310-30 Loans [Member] | Other Consumer [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 478 | ' | ' | ' |
All Other [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 77,168 | ' | ' | ' |
Gross loans, Total Amount | 77,168 | ' | ' | ' |
Deferred fee (income) costs, net | -1 | ' | ' | ' |
Allowance for loan losses | -497 | ' | ' | ' |
Loans, net | 76,670 | ' | ' | ' |
All Other [Member] | Residential Mortgage [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 77,168 | ' | ' | ' |
All Other [Member] | Home Equity [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
All Other [Member] | Automobile [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | 0 | ' | ' | ' |
All Other [Member] | Other Consumer [Member] | Wells Fargo [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Consumer, Amount | $0 | ' | ' | ' |
Loans_Activity_of_Allowance_fo
Loans - Activity of Allowance for Loan Losses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable Allowance For Credit Losses [Roll Forward] | ' | ' | ' |
Balance at beginning of year | $12,228 | $11,101 | $9,408 |
Provision for loan losses | 2,095 | 3,900 | 4,617 |
Recoveries on loans previously charged off | 1,814 | 3,294 | 1,596 |
Charged off loans | -4,060 | -6,067 | -4,520 |
Balance at end of year | $12,077 | $12,228 | $11,101 |
Loans_Loan_Balances_and_Relate
Loans - Loan Balances and Related Allowance for Loan Losses, by Portfolio Type (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for loan losses: | ' | ' | ' |
Balance at beginning of year | $12,228 | $11,101 | $9,408 |
Charge-offs | -4,060 | -6,067 | -4,520 |
Recoveries | 1,814 | 3,294 | 1,596 |
Provision | 2,095 | 3,900 | 4,617 |
Balance at end of year | 12,077 | 12,228 | 11,101 |
Allowance balance at end of year related to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | 12,077 | 12,228 | ' |
Loan balances at end of year: | ' | ' | ' |
Loans individually evaluated for impairment | 16,846 | 16,843 | ' |
Loans collectively evaluated for impairment | 858,327 | 746,102 | ' |
Ending Balance | 875,173 | 762,945 | ' |
Commercial [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Balance at beginning of year | 6,251 | 6,654 | ' |
Charge-offs | -470 | -1,320 | ' |
Recoveries | 116 | 159 | ' |
Provision | 90 | 758 | ' |
Balance at end of year | 5,987 | 6,251 | ' |
Allowance balance at end of year related to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | 5,987 | 6,251 | ' |
Loan balances at end of year: | ' | ' | ' |
Loans individually evaluated for impairment | 10,239 | 9,367 | ' |
Loans collectively evaluated for impairment | 554,276 | 447,954 | ' |
Ending Balance | 564,515 | 457,321 | ' |
Residential Mortgage [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Balance at beginning of year | 1,453 | 318 | ' |
Charge-offs | -168 | -68 | ' |
Recoveries | 143 | 3 | ' |
Provision | -506 | 1,200 | ' |
Balance at end of year | 922 | 1,453 | ' |
Allowance balance at end of year related to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | 922 | 1,453 | ' |
Loan balances at end of year: | ' | ' | ' |
Loans individually evaluated for impairment | 6,412 | 7,242 | ' |
Loans collectively evaluated for impairment | 147,384 | 158,743 | ' |
Ending Balance | 153,796 | 165,985 | ' |
Consumer [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Balance at beginning of year | 4,524 | 4,129 | ' |
Charge-offs | -3,422 | -4,679 | ' |
Recoveries | 1,555 | 3,132 | ' |
Provision | 2,511 | 1,942 | ' |
Balance at end of year | 5,168 | 4,524 | ' |
Allowance balance at end of year related to: | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | ' |
Loans collectively evaluated for impairment | 5,168 | 4,524 | ' |
Loan balances at end of year: | ' | ' | ' |
Loans individually evaluated for impairment | 195 | 234 | ' |
Loans collectively evaluated for impairment | 156,667 | 139,405 | ' |
Ending Balance | $156,862 | $139,639 | ' |
Loans_Summary_of_Delinquency_S
Loans - Summary of Delinquency Status of Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | $13,344 | $13,523 |
60 - 89 Days Past Due | 6,932 | 7,297 |
90 Days and Greater | 9,769 | 12,861 |
Total past due loans | 30,045 | 33,681 |
Current | 845,128 | 729,264 |
Gross loans, Total Amount | 875,173 | 762,945 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Gross loans, Total Amount | 153,796 | 165,985 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 360 | 2,115 |
60 - 89 Days Past Due | 962 | 1,625 |
90 Days and Greater | 4,876 | 6,484 |
Total past due loans | 6,198 | 10,224 |
Current | 558,317 | 447,097 |
Gross loans, Total Amount | 564,515 | 457,321 |
Commercial [Member] | Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 159 | 65 |
60 - 89 Days Past Due | 191 | 222 |
90 Days and Greater | 217 | 521 |
Total past due loans | 567 | 808 |
Current | 182,797 | 138,143 |
Gross loans, Total Amount | 183,364 | 138,951 |
Commercial [Member] | Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 201 | 2,050 |
60 - 89 Days Past Due | 771 | 1,403 |
90 Days and Greater | 4,659 | 5,963 |
Total past due loans | 5,631 | 9,416 |
Current | 374,823 | 305,046 |
Gross loans, Total Amount | 380,454 | 314,462 |
Commercial [Member] | Commercial Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
90 Days and Greater | 0 | 0 |
Total past due loans | 0 | 0 |
Current | 697 | 3,908 |
Gross loans, Total Amount | 697 | 3,908 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 12,984 | 11,408 |
60 - 89 Days Past Due | 5,970 | 5,672 |
90 Days and Greater | 4,893 | 6,377 |
Total past due loans | 23,847 | 23,457 |
Current | 286,811 | 282,167 |
Gross loans, Total Amount | 310,658 | 305,624 |
Consumer [Member] | Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 10,663 | 8,705 |
60 - 89 Days Past Due | 4,742 | 4,513 |
90 Days and Greater | 3,887 | 5,190 |
Total past due loans | 19,292 | 18,408 |
Current | 133,465 | 146,366 |
Gross loans, Total Amount | 152,757 | 164,774 |
Consumer [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 135 |
90 Days and Greater | 0 | 0 |
Total past due loans | 0 | 135 |
Current | 1,039 | 1,076 |
Gross loans, Total Amount | 1,039 | 1,211 |
Consumer [Member] | Automobile [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 178 | 314 |
60 - 89 Days Past Due | 13 | 76 |
90 Days and Greater | 13 | 0 |
Total past due loans | 204 | 390 |
Current | 7,065 | 7,837 |
Gross loans, Total Amount | 7,269 | 8,227 |
Consumer [Member] | Other Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30 - 59 Days Past Due | 2,143 | 2,389 |
60 - 89 Days Past Due | 1,215 | 948 |
90 Days and Greater | 993 | 1,187 |
Total past due loans | 4,351 | 4,524 |
Current | 145,242 | 126,888 |
Gross loans, Total Amount | $149,593 | $131,412 |
Loans_Loans_on_NonAccrual_Stat
Loans - Loans on Non-Accrual Status, by Portfolio (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | $13,295 | $16,138 |
Commercial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 6,687 | 8,662 |
Commercial [Member] | Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 343 | 685 |
Commercial [Member] | Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 6,344 | 7,977 |
Commercial [Member] | Commercial Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 0 | 0 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 6,608 | 7,476 |
Consumer [Member] | Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 6,351 | 7,166 |
Consumer [Member] | Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 62 | 76 |
Consumer [Member] | Automobile [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | 0 | 0 |
Consumer [Member] | Other Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Non-accrual loans | $195 | $234 |
Loans_Summary_of_Loans_by_Port
Loans - Summary of Loans by Portfolio Type and Internal Credit Quality Ratings (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial & Industrial [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Mortgage [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Home Equity [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Automobile [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | Other Consumer [Member] | |||
Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | Pass [Member] | Pass [Member] | Special Mention [Member] | Special Mention [Member] | Substandard [Member] | Substandard [Member] | Formula Classified [Member] | Formula Classified [Member] | Doubtful [Member] | Doubtful [Member] | ||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable Gross Carrying Amount | $875,173 | $762,945 | $826,868 | $715,452 | $30,421 | $10,591 | $12,820 | $29,865 | $5,064 | $7,037 | $0 | $0 | ' | $170,388 | $123,046 | $9,571 | $3,752 | $3,360 | $12,153 | $45 | $0 | $0 | $0 | ' | $349,906 | $290,307 | $20,850 | $6,839 | $9,384 | $17,316 | $314 | $0 | $0 | $0 | $697 | $3,908 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $153,796 | ' | $165,985 | $148,825 | $158,408 | $0 | $0 | $76 | $370 | $3,856 | $5,996 | $0 | $0 | $1,039 | $1,211 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ' | $7,256 | $8,227 | $0 | $0 | $0 | $0 | $13 | $0 | $0 | $0 | ' | $148,757 | $130,345 | $0 | $0 | $0 | $26 | $836 | $1,041 | $0 | $0 |
Increase (Decrease) in total gross loans | $112,228 | ' | $111,416 | ' | $19,830 | ' | ($17,045) | ' | ($1,973) | ' | $0 | ' | $44,400 | $47,342 | ' | $5,819 | ' | ($8,793) | ' | $45 | ' | $0 | ' | $66,000 | $59,599 | ' | $14,011 | ' | ($7,932) | ' | $314 | ' | $0 | ' | ($3,211) | ' | $0 | ' | $0 | ' | $0 | ' | $0 | ' | $749 | ($9,600) | ' | ($9,583) | ' | $0 | ' | ($294) | ' | ($2,140) | ($2,000) | $0 | ' | ($172) | ' | $0 | ' | $0 | ' | $0 | ' | $0 | ' | ($971) | ($971) | ' | $0 | ' | $0 | ' | $13 | ' | $0 | ' | $18,200 | $18,412 | ' | $0 | ' | ($26) | ' | ($205) | ' | $0 | ' |
Loans_NonAccrual_Loans_and_Res
Loans - Non-Accrual Loans and Restructured Loans (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restructured Loans: | ' | ' |
Non-accruing restructured loans | $5,554 | $5,970 |
Accruing restructured loans | 3,551 | 705 |
Total restructured loans | 9,105 | 6,675 |
Other non-accruing impaired loans | 7,741 | 10,168 |
Other accruing impaired loans | 0 | 0 |
Total impaired loans | 16,846 | 16,843 |
Impaired loans less than 90 days delinquent and included in total impaired loans | $7,967 | $6,058 |
Loans_Information_Related_to_I
Loans - Information Related to Impaired Loans (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | $0 | $0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 16,846 | 16,843 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 18,855 | 18,787 |
Total impaired loans with no related allowance, Average Recorded Investment | 17,508 | 15,444 |
Total impaired loans with no related allowance, Interest Income Recognized | 14 | 738 |
Commercial & Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 3,459 | 822 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 3,646 | 975 |
Total impaired loans with no related allowance, Average Recorded Investment | 3,231 | 778 |
Total impaired loans with no related allowance, Interest Income Recognized | 14 | 29 |
Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 6,780 | 8,545 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 8,495 | 10,229 |
Total impaired loans with no related allowance, Average Recorded Investment | 7,400 | 10,204 |
Total impaired loans with no related allowance, Interest Income Recognized | 0 | 450 |
Commercial Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 0 | 0 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with no related allowance, Average Recorded Investment | 0 | 925 |
Total impaired loans with no related allowance, Interest Income Recognized | 0 | 0 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 6,351 | 7,166 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 6,449 | 7,264 |
Total impaired loans with no related allowance, Average Recorded Investment | 6,594 | 3,313 |
Total impaired loans with no related allowance, Interest Income Recognized | 0 | 249 |
Home Equity [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 61 | 76 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 61 | 76 |
Total impaired loans with no related allowance, Average Recorded Investment | 68 | 33 |
Total impaired loans with no related allowance, Interest Income Recognized | 0 | 2 |
Automobile [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 0 | 0 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with no related allowance, Average Recorded Investment | 0 | 0 |
Total impaired loans with no related allowance, Interest Income Recognized | 0 | 0 |
Other Consumer [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Total impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Total impaired loans with an allowance recorded, Average Recorded Investment | 0 | 0 |
Total impaired loans with an allowance recorded, Interest Income Recognized | 0 | 0 |
Total impaired loans with no related allowance, Recorded Investment | 195 | 234 |
Total impaired loans with no related allowance, Unpaid Principal Balance | 204 | 243 |
Total impaired loans with no related allowance, Average Recorded Investment | 215 | 191 |
Total impaired loans with no related allowance, Interest Income Recognized | $0 | $8 |
Loans_Troubled_Debt_Restructur
Loans - Troubled Debt Restructurings (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 13 | ' |
Pre-Modification Outstanding Recorded Investment | $14,102 | ' |
Post-Modification Outstanding Recorded Investment | 12,787 | ' |
Total Troubled Debt Restructurings (TDRs) | 9,105 | 6,675 |
Performing [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 6 | ' |
Pre-Modification Outstanding Recorded Investment | 3,982 | ' |
Post-Modification Outstanding Recorded Investment | 3,982 | ' |
Total Troubled Debt Restructurings (TDRs) | 3,552 | 706 |
Performing [Member] | Residential Mortgage [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | 0 | 0 |
Performing [Member] | Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 6 | ' |
Pre-Modification Outstanding Recorded Investment | 3,982 | ' |
Post-Modification Outstanding Recorded Investment | 3,982 | ' |
Total Troubled Debt Restructurings (TDRs) | 3,552 | 706 |
Performing [Member] | Automobile [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | 0 | 0 |
Performing [Member] | Other Consumer [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | 0 | 0 |
Nonperforming [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 7 | ' |
Pre-Modification Outstanding Recorded Investment | 10,120 | ' |
Post-Modification Outstanding Recorded Investment | 8,805 | ' |
Total Troubled Debt Restructurings (TDRs) | 5,554 | 5,970 |
Nonperforming [Member] | Residential Mortgage [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | 0 | 0 |
Nonperforming [Member] | Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 7 | ' |
Pre-Modification Outstanding Recorded Investment | 10,120 | ' |
Post-Modification Outstanding Recorded Investment | 8,805 | ' |
Total Troubled Debt Restructurings (TDRs) | 5,554 | 5,970 |
Nonperforming [Member] | Automobile [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | 0 | 0 |
Nonperforming [Member] | Other Consumer [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 0 | ' |
Pre-Modification Outstanding Recorded Investment | 0 | ' |
Post-Modification Outstanding Recorded Investment | 0 | ' |
Total Troubled Debt Restructurings (TDRs) | $0 | $0 |
Premises_and_Equipment_Summary
Premises and Equipment - Summary of Premises and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | $58,178 | $58,456 |
Accumulated Depreciation | -39,929 | -40,744 |
Net Book Value | 18,249 | 17,712 |
Buildings [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 26,954 | 27,742 |
Accumulated Depreciation | -16,725 | -16,448 |
Net Book Value | 10,229 | 11,294 |
Furniture and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 24,807 | 24,489 |
Accumulated Depreciation | -19,404 | -20,454 |
Net Book Value | 5,403 | 4,035 |
Automobiles and Mobile Facilities [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 1,063 | 1,056 |
Accumulated Depreciation | -724 | -906 |
Net Book Value | 339 | 150 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 4,317 | 4,402 |
Accumulated Depreciation | -3,076 | -2,936 |
Net Book Value | 1,241 | 1,466 |
Property Plant and Equipment Other than Construction In Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 57,141 | 57,689 |
Accumulated Depreciation | -39,929 | -40,744 |
Net Book Value | 17,212 | 16,945 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Cost | 1,037 | 767 |
Accumulated Depreciation | 0 | 0 |
Net Book Value | $1,037 | $767 |
Premises_and_Equipment_Additio
Premises and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Cash Flows [Abstract] | ' | ' | ' |
Depreciation and amortization expense | $3,101 | $3,037 | $2,864 |
Other_Assets_Summary_of_Other_
Other Assets - Summary of Other Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ' | ' |
Bank Owned Life Insurance | $10,974 | $10,635 | ' |
Prepaid income tax | 409 | 4,175 | ' |
Prepaid expenses | 4,536 | 4,311 | ' |
Prepaid FDIC assessments | 0 | 2,455 | ' |
Other real estate owned, net (Note 9) | 4,610 | 4,384 | 4,294 |
Deferred tax asset, net (Note 13) | 5,603 | 3,741 | ' |
Mortgage servicing rights | 1,354 | 1,285 | ' |
Other | 692 | 1,324 | ' |
Total | $28,178 | $32,310 | ' |
Other_Real_Estate_Owned_Other_
Other Real Estate Owned - Other Real Estate Owned Presented Net of Allowance for Losses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Real Estate [Roll Forward] | ' | ' | ' |
Other real estate, Beginning Balance | $4,384 | $4,294 | ' |
Additions | 2,193 | 807 | ' |
Sales | -896 | -585 | ' |
Total | 5,681 | 4,516 | ' |
Write-downs and loss on sale, net | 127 | -74 | 170 |
Change in valuation allowances | 15 | -121 | -45 |
Other Real Estate, Ending Balance | $4,610 | $4,384 | $4,294 |
Other_Real_Estate_Owned_Summar
Other Real Estate Owned - Summary of Other Real Estate Owned Operations Included in Non-Interest Expenses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Real Estate [Roll Forward] | ' | ' | ' |
Other real estate owned operations, net | $143 | $96 | $142 |
Loss (gain) on the sale of the other real estate owned | 127 | 74 | 103 |
Write-downs | 1,213 | -63 | 22 |
Change in valuation allowances | -15 | 121 | 45 |
Net losses from other real estate owned operations | $1,468 | $228 | $312 |
Deposits_Summary_of_Deposits_D
Deposits - Summary of Deposits (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Non-interest bearing deposits | $321,408 | $279,322 |
Interest bearing deposits: | ' | ' |
Demand deposits | 127,642 | 114,650 |
Regular savings | 534,530 | 481,062 |
Time deposits: | ' | ' |
$100,000 or more | 43,299 | 48,503 |
Less than $100,000 | 12,553 | 11,971 |
Other interest bearing deposits | 144,013 | 167,032 |
Total Interest-bearing deposit | 862,037 | 823,218 |
Total deposits | $1,183,445 | $1,102,540 |
Deposits_Scheduled_Maturities_
Deposits - Scheduled Maturities of Time Deposits (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Time Deposits [Abstract] | ' |
2014 | $53,718 |
2015 | 947 |
2016 | 534 |
2017 | 272 |
2018 and thereafter | 381 |
Time deposits, Total | $55,852 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Disclosure [Abstract] | ' | ' |
Maximum borrowing capacity represented as percentage of assets | 20.00% | ' |
Outstanding advances against credit line | $0 | $10,000 |
Weighted average rate of interest applicable to advance | 0.00% | 3.93% |
Value of first lien for one-to-four unit mortgage loans as percentage of advance outstanding | 120.00% | ' |
Value of first lien for multifamily mortgage loans as percentage of advance outstanding | 125.00% | ' |
Other borrowed funds with Board of Directors | 0 | 145,000 |
Federal Funds lines of credit available | 17,000,000 | 17,000,000 |
Outstanding borrowings | $0 | ' |
Transactions_with_Board_of_Dir2
Transactions with Board of Directors - Summary of Loan Transactions with Board of Directors (Detail) (Management [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Management [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Beginning balance | $5,234 | $13,551 |
Undisbursed commitments | 154 | 0 |
New loans granted | 376 | 172 |
Principal repayments | -724 | -8,489 |
Ending balance of term loans | 5,040 | 5,234 |
Year-end balance of revolving accounts | 5,751 | 2,099 |
Total term loans and revolving accounts | $10,791 | $7,333 |
Transactions_with_Board_of_Dir3
Transactions with Board of Directors - Summary of Loan Transactions (Parenthetical) (Detail) (Executive Officers [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
SecurityLoan | ||
Executive Officers [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Number of new loans | 4 | ' |
Loans made to executive officers who are also directors | $376 | $172 |
Transactions_with_Board_of_Dir4
Transactions with Board of Directors - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Related Party Transactions [Abstract] | ' | ' |
Deposits by Board of Directors members and executive officers | $6.90 | $5.40 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Provision (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Government of Guam tax expense (benefit): | ' | ' | ' |
Current | $3,995 | $3,728 | $2,174 |
Deferred | -232 | -644 | -1,710 |
Foreign income taxes (including U.S. income taxes) | 317 | 340 | 294 |
Total income tax expense | $4,080 | $3,424 | $758 |
Income_Taxes_Summary_of_Differ
Income Taxes - Summary of Differences between Statutory Federal Income Tax Rate and Effective Tax Rates (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Income Tax Expense Benefit Continuing Operations [Abstract] | ' | ' | ' |
Statutory Guam income tax rate | 34.00% | 34.00% | 34.00% |
Permanent differences | -5.50% | -6.80% | -16.60% |
Other | 0.80% | 1.10% | -5.70% |
Total income tax expense | 29.30% | 28.30% | 11.70% |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components Of Deferred Tax Assets [Abstract] | ' | ' | ' |
Deferred loan origination fees | ($115) | ($148) | ($24) |
Mortgage servicing rights | 24 | 89 | 34 |
Loan loss provision | 53 | -388 | -629 |
Deferred rent obligation | -22 | -24 | -28 |
Other real estate owned valuation | 50 | -24 | 37 |
Fixed assets | 22 | 23 | -590 |
FAS 123R | -7 | -4 | -401 |
SERP | -237 | -168 | -109 |
Net operating loss | -1,974 | -2,405 | -2,812 |
Change in valuation allowance | 1,974 | 2,405 | 2,812 |
Deferred tax (benefit) provision | ($232) | ($644) | ($1,710) |
Income_Taxes_Components_of_Net
Income Taxes - Components of Net Deferred Tax Asset (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax asset: | ' | ' |
Allowance for loan losses | $4,164 | $4,216 |
Net operating loss | 1,974 | 2,405 |
Loan origination fees | 765 | 650 |
FAS 123R | 412 | 405 |
Net unrealized loss on securities held-to-maturity | 1,108 | 143 |
Net unrealized gain on securities available-for-sale | 786 | 0 |
Deferred rent obligation | 262 | 241 |
Accruals not currently deductible | 512 | 326 |
Total deferred tax asset | 9,983 | 8,386 |
Deferred tax liability: | ' | ' |
Fixed assets | -917 | -895 |
Net unrealized loss on securities available-for-sale | 0 | -902 |
Mortgage servicing rights | -467 | -443 |
Total deferred tax liability | -1,384 | -2,240 |
Valuation allowance | -1,974 | -2,405 |
Net deferred tax asset | $5,603 | $3,741 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Change in valuation allowance | $1,974 | $2,405 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Two Thousand Eleven Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Employees right to purchase stock to maximum amount | $25 | ' |
Employees right to purchase stock to maximum extent | 1,500 | ' |
Share purchase price percentage of fair market value | 85.00% | ' |
Compensation expense | $21 | $11 |
Executive Employment Agreements [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of shares granted to executive employee | 3 | ' |
Executive Employment Agreements [Member] | Phantom Share Units (PSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock units in lieu of an equal amount of incentive bonus | $100 | ' |
Stock outstanding | 0 | 0 |
Executive Employment Agreements [Member] | Phantom Share Units (PSUs) [Member] | President [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Termination date | 31-Dec-17 | ' |
Executive Employment Agreements [Member] | Phantom Share Units (PSUs) [Member] | Executive Vice President [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Termination date | 31-May-18 | ' |
Employee_Benefit_Plans_Additio1
Employee Benefit Plans - Additional Information 1 (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2008 | Feb. 28, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2011 | Apr. 30, 2011 | Apr. 30, 2011 | Apr. 30, 2011 | Aug. 09, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 30, 2011 | Dec. 31, 2013 | |
Senior Vice Presidents [Member] | Executive Vice President [Member] | President [Member] | Chief Executive Officer [Member] | Senior Vice Presidents Employment Agreements [Member] | Senior Vice Presidents Employment Agreements [Member] | Senior Vice Presidents Employment Agreements [Member] | Senior Vice Presidents Employment Agreements [Member] | Supplemental Executive Retirement Plan (SERP) [Member] | Senior Vice Presidents Employment Agreements Two [Member] | ||||||
Person | Person | Maximum [Member] | Minimum [Member] | Retirement_Payments | |||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employment agreement term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5-year | ' | ' | ' | 'Five-year |
Termination date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-16 | 31-Dec-16 | 31-Dec-11 | ' | ' |
Number of employee for availing employment benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 7 | ' | ' | ' | ' |
Eligibility service period condition for participant under plan | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Matching contribution percentage | 100.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee contribution percentage to compensation plan | 1.00% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee deferral, minimum | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee deferral, maximum | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Matching contribution vested period of service | '2 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense attributable to the plan | ' | ' | $464,000 | $440,000 | $368,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement payments | ' | ' | ' | ' | ' | 50,000 | 100,000 | 150,000 | 150,000 | ' | ' | ' | ' | ' | ' |
Frequency for member entitled to receive employment benefit payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' |
2014 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2018 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2019 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2020 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2021 | ' | ' | 554,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected to be recognized in net periodic benefit cost | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Changes
Employee Benefit Plans - Changes in Projected Benefit Obligation of Other Benefits under Plan and its Funded Status (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Change in benefit obligation: | ' | ' |
Benefit obligation at beginning of period | $772 | $318 |
Service cost | 642 | 454 |
Interest cost | 0 | 0 |
Participant contributions | 0 | 0 |
Plan amendments | 0 | 0 |
Combination/divestiture/curtailment/settlement/termination | 0 | 0 |
Actuarial loss/(gain) | 0 | 0 |
(Benefits paid) | 0 | 0 |
Benefit obligation at end of period | 1,414 | 772 |
Amounts recognized in the Statement of Financial Condition | ' | ' |
Unfunded accrued SERP liability-current | 1,414 | 772 |
Unfunded accrued SERP liability-noncurrent | 0 | 0 |
Total unfunded accrued SERP liability | 1,414 | 772 |
Net amount recognized in accumulated other comprehensive income | ' | ' |
Prior service cost/(benefit) | 0 | 0 |
Net actuarial loss/(gain) | 0 | 0 |
Total net amount recognized in accumulated other comprehensive income | 0 | 0 |
Accumulated benefit obligation | 1,414 | 772 |
Components of net periodic SERP cost YTD: | ' | ' |
Service cost | 642 | 454 |
Interest cost | 0 | 0 |
Amortization of prior service cost/(benefit) | 0 | 0 |
Amortization of net actuarial loss/(gain) | 0 | 0 |
Recognized in other comprehensive income YTD: | ' | ' |
Prior service cost/(benefit) | 0 | 0 |
Net actuarial loss/(gain) | 0 | 0 |
Amortization of prior service cost/(benefit) | 0 | 0 |
Amortization of net actuarial loss/(gain) | 0 | 0 |
Total recognized year to date in other comprehensive income | 0 | 0 |
Assumptions as of December 31,: | ' | ' |
Assumed discount rate | 4.33% | 6.17% |
Rate of compensation increase | 0.00% | 0.00% |
Supplemental Executive Retirement Plan (SERP) [Member] | ' | ' |
Change in benefit obligation: | ' | ' |
Service cost | 642 | 454 |
Interest cost | 0 | 0 |
Components of net periodic SERP cost YTD: | ' | ' |
Service cost | 642 | 454 |
Interest cost | 0 | 0 |
Expected return on plan assets | 0 | 0 |
Amortization of prior service cost/(benefit) | 0 | 0 |
Amortization of net actuarial loss/(gain) | 0 | 0 |
Net periodic SERP cost | 642 | 454 |
Recognized in other comprehensive income YTD: | ' | ' |
Amortization of prior service cost/(benefit) | 0 | 0 |
Amortization of net actuarial loss/(gain) | $0 | $0 |
Earnings_Per_Common_Share_Summ
Earnings Per Common Share - Summary of Earnings Per Common Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Weighted Average Number Of Shares Outstanding Diluted Disclosure Items [Abstract] | ' | ' | ' |
Net income available for common stockholders | $9,868 | $8,620 | $5,734 |
Weighted average number of common shares outstanding | 8,790 | 8,779 | 8,752 |
Effect of dilutive options | 0 | 1 | 1,820 |
Weighted average number of common shares outstanding used to calculate diluted earnings per common share | 8,790 | 8,780 | 10,572 |
Income per common share: | ' | ' | ' |
Basic | $1.12 | $0.98 | $0.66 |
Diluted | $1.12 | $0.98 | $0.54 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Summary of Financial Instruments with Off-Balance-Sheet Risk (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Total Letters of credit | $50,125 | $29,208 |
Commitments to Extend Credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total Letters of credit | 121,618 | 100,007 |
Standby Letters of Credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total Letters of credit | 47,543 | 26,178 |
Other Letters of Credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total Letters of credit | $2,582 | $3,030 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Entity | |||
Directors | |||
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Letters of credit expiration date maximum | '1 year | ' | ' |
Maximum undiscounted future payments | $47,543 | ' | ' |
Guarantee maturity maximum | '1 year | ' | ' |
Liabilities associated with guarantees | 0 | ' | ' |
Unpaid principal balances of mortgage loans serviced | 208,599 | 197,391 | ' |
Mortgage servicing rights at their fair value | 1,354 | 1,285 | ' |
Operating leases contractual term, Minimum | '1 year | ' | ' |
Operating leases contractual term, Maximum | '99 years | ' | ' |
Deferred obligation | 760 | 698 | ' |
Number of entities which provide facilities | 2 | ' | ' |
Number of directors | 2 | ' | ' |
Lease payments made | 370 | 358 | 351 |
Lease of office space to third parties, Minimum | '3 years | ' | ' |
Lease of office space to third parties, Maximum | '5 years | ' | ' |
Option period, Maximum | '15 years | ' | ' |
Minimum future rents to be received under non-cancelable operating sublease agreements, 2014 | 84 | ' | ' |
Minimum future rents to be received under non-cancelable operating sublease agreements, 2015 | 40 | ' | ' |
Minimum future rents to be received under non-cancelable operating sublease agreements, 2016 | 27 | ' | ' |
Minimum future rents to be received under non-cancelable operating sublease agreements, 2017 | $0 | ' | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies - Annual Lease Commitments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases, Future Minimum Payments Receivable [Abstract] | ' |
2014 | $1,457 |
2015 | 1,072 |
2016 | 886 |
2017 | 697 |
2018 and thereafter | 19,046 |
Total | $23,158 |
Commitments_and_Contingencies_4
Commitments and Contingencies - Summary of Rental Activities (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Leases Rent Expense [Abstract] | ' | ' | ' |
Rent expense | $2,343 | $2,293 | $2,309 |
Less: sublease rentals | 268 | 257 | 254 |
Net rent expense | $2,075 | $2,036 | $2,055 |
Minimum_Regulatory_Capital_Req2
Minimum Regulatory Capital Requirements - Summary of Bank's Actual Capital Amounts and Ratios (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Tier One Risk Based Capital [Abstract] | ' | ' |
Total capital, Actual Capital | $108,238 | $101,489 |
Tier 1 capital, Actual Capital | 97,563 | 92,206 |
Tier 1 capital, Actual Capital | 97,563 | 92,206 |
Total capital to Risk Weighted Assets, Actual Amount | 12.53% | 13.51% |
Tier 1 capital to Risk Weighted Assets, Actual Capital | 11.43% | 12.43% |
Tier 1 capital to Average Assets, Actual Capital | 7.60% | 7.40% |
Total capital for Capital Adequacy Purposes | 69,114 | 60,094 |
Tier 1 capital for Capital Adequacy Purposes | 34,130 | 29,676 |
Tier 1 capital for Capital Adequacy Purposes | 51,320 | 49,854 |
Total capital for Capital Adequacy Purposes to Risk Weighted Assets | 8.00% | 8.00% |
Tier 1 capital for Capital Adequacy Purposes to Risk Weighted Assets | 4.00% | 4.00% |
Tier 1 capital for Capital Adequacy Purposes to Average Assets | 4.00% | 4.00% |
Total capital to be Well Capitalized Under Prompt Corrective Action Provisions | 86,392 | 75,118 |
Tier 1 capital to be Well Capitalized Under Prompt Corrective Action Provisions | 51,195 | 44,514 |
Tier 1 capital to be Well Capitalized Under Prompt Corrective Action Provisions | $64,151 | $62,317 |
Total capital to be Well Capitalized Under Prompt Corrective Action Provision to Risk Weighted Assets | 10.00% | 10.00% |
Tier 1 capital to be Well Capitalized Under Prompt Corrective Action Provisions to Risk Weighted Assets | 6.00% | 6.00% |
Tier 1 capital to be Well Capitalized Under Prompt Corrective Action Provisions to Average Assets | 5.00% | 5.00% |
Parent_Company_Only_Informatio2
Parent Company Only Information - Parent Company Annual Financial Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Other assets | $28,178 | $32,310 | ' | ' |
Total assets | 1,283,008 | 1,211,381 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' |
Liabilities | 1,189,153 | 1,116,957 | ' | ' |
Stockholders' equity | 93,855 | 94,424 | 89,036 | 84,352 |
Total liabilities and stockholders' equity | 1,283,008 | 1,211,381 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Due from subsidiary depository institution | 222 | 92 | ' | ' |
Investment in subsidiary | 93,587 | 94,452 | ' | ' |
Other assets | 3 | 39 | ' | ' |
Total assets | 93,812 | 94,583 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' |
Liabilities | 2 | 148 | ' | ' |
Stockholders' equity | 93,810 | 94,435 | ' | ' |
Total liabilities and stockholders' equity | $93,812 | $94,583 | ' | ' |
Parent_Company_Only_Informatio3
Parent Company Only Information - Summary of Statements of Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Interest expense | $4,800 | $5,547 | $5,615 |
Other expenses | 54,447 | 53,354 | 47,153 |
Net income | 9,868 | 8,620 | 5,734 |
Parent Company [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Dividend income | 4,658 | 4,741 | ' |
Interest expense | 0 | 5 | ' |
Other expenses | 185 | 230 | ' |
Equity in undistributed income of subsidiary | 5,395 | 4,114 | ' |
Net income | $9,868 | $8,620 | ' |
Parent_Company_Only_Informatio4
Parent Company Only Information - Summary of Statements of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $9,868 | $8,620 | $5,734 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' | ' |
Net increase (decrease) in other liabilities | 1,432 | 1,886 | 427 |
Net cash provided by operating activities | 18,993 | 21,637 | 10,988 |
Cash flows from financing activities: | ' | ' | ' |
Cash dividends paid | -4,390 | -4,389 | -4,405 |
Proceeds from issuance of common stock | 106 | 17 | 442 |
Net cash provided by financing activities | 66,538 | 59,813 | 140,301 |
Net change in cash and cash equivalents | 22,394 | -56,770 | 29,481 |
Cash and cash equivalents at beginning of year | 74,189 | 130,959 | 101,478 |
Cash and cash equivalents at end of year | 96,583 | 74,189 | 130,959 |
Parent Company [Member] | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' |
Net income | 9,868 | 8,620 | ' |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' | ' |
Undistributed (earnings) losses of subsidiary | -5,395 | -4,114 | ' |
Net increase (decrease) in other liabilities | 0 | -13 | ' |
Net cash provided by operating activities | 4,473 | 4,493 | ' |
Cash flows from financing activities: | ' | ' | ' |
Cash dividends paid | -4,395 | -4,390 | ' |
Net change in other short-term borrowings | -145 | -55 | ' |
Proceeds from issuance of common stock | 197 | 0 | ' |
Net cash provided by financing activities | -4,343 | -4,445 | ' |
Net change in cash and cash equivalents | 130 | 48 | ' |
Cash and cash equivalents at beginning of year | 92 | 44 | ' |
Cash and cash equivalents at end of year | $222 | $92 | ' |
Fair_Value_of_Assets_and_Liabi2
Fair Value of Assets and Liabilities - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) (Fair Value on Recurring Basis [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | $184,186 | $274,807 |
U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 60,145 |
U.S. Government Agency Pool Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 54,292 | 73,798 |
U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 128,540 | 139,579 |
MSRs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 1,354 | 1,285 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Agency Pool Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | MSRs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 182,832 | 273,522 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 60,145 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency Pool Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 54,292 | 73,798 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 128,540 | 139,579 |
Significant Other Observable Inputs (Level 2) [Member] | MSRs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 1,354 | 1,285 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Agency and Sponsored Enterprise (GSE) Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Agency Pool Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. Government Agency or GSE Mortgage-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | MSRs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets fair value disclosure recurring | $1,354 | $1,285 |
Fair_Value_of_Assets_and_Liabi3
Fair Value of Assets and Liabilities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liabilities measured at fair value on a recurring basis | $0 | $0 | ' |
Transfers in or out of the Bank's Level 3 financial assets | 0 | 0 | 0 |
Loans, Carrying Amount | 860,883,000 | 748,832,000 | ' |
Impairment charges | 4,060,000 | 6,067,000 | 4,520,000 |
Carrying value foreclosed assets | 4,900,000 | 100,000 | ' |
Fair value written down impairment charge of long lived assets | 3,700,000 | 79,000 | ' |
Impairment or disposal of Long-Lived Assets | 1,200,000 | 21,000 | ' |
Nonfinancial assets or liabilities for which a nonrecurring change in fair value | 0 | 0 | ' |
Number of days to maturity federal funds purchased and FHLB advances to be treated as short term borrowings | '90 days | ' | ' |
Individual Loans [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Loans, Carrying Amount | 394,000 | 662,000 | ' |
Fair value written down impairment charges | 364,000 | 250,000 | ' |
Impairment charges | $30,000 | $412,000 | ' |
Minimum [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of FHLB advances maturing after ninety days | '90 days | ' | ' |
Fair_Value_of_Assets_and_Liabi4
Fair Value of Assets and Liabilities - Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' | ' |
Beginning balance | $1,285 | $1,028 | $942 |
Realized and unrealized net gains: | ' | ' | ' |
Included in net income | 69 | 257 | 86 |
Included in other comprehensive income | 0 | 0 | 0 |
Purchases, sales and issuances | ' | ' | ' |
Purchases | -31,546 | -31,391 | -28,098 |
Sales | 31,546 | 31,391 | 28,098 |
Issuances | 0 | 0 | 0 |
Ending balance | $1,354 | $1,285 | $1,028 |
Fair_Value_of_Assets_and_Liabi5
Fair Value of Assets and Liabilities - Assets Measured at Fair Value on Nonrecurring Basis (Detail) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | $364 | $250 |
Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 4,610 | 4,384 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 364 | 250 |
Significant Other Observable Inputs (Level 2) [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 4,610 | 4,384 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total assets | $0 | $0 |
Fair_Value_of_Assets_and_Liabi6
Fair Value of Assets and Liabilities - Fair Value of Other Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial assets: | ' | ' |
Cash and cash equivalents, Carrying Amount | $27,142 | $36,575 |
Investment securities held-to-maturity, Carrying Amount | 88,989 | 58,125 |
Investment securities held-to-maturity, Fair Value | 88,820 | 60,221 |
Loans, Carrying Amount | 860,883 | 748,832 |
Accrued interest receivable, Carrying Amount | 4,013 | 3,599 |
Financial liabilities: | ' | ' |
Deposits, Carrying Amount | 1,183,445 | 1,102,540 |
Accrued interest payable, Carrying Amount | 164 | 161 |
Federal Home Loan Bank advances, Carrying Amount | 0 | 10,145 |
Fair Value [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents, Fair Value | 96,583 | 74,189 |
Interest bearing deposits with banks, Fair Value | 400 | 150 |
Investment securities held-to-maturity, Fair Value | 88,820 | 60,221 |
Loans, Fair Value | 859,808 | 746,848 |
Accrued interest receivable, Fair Value | 4,013 | 3,599 |
Financial liabilities: | ' | ' |
Deposits, Fair Value | 1,185,531 | 1,107,142 |
Accrued interest payable, Fair Value | 164 | 161 |
Federal Home Loan Bank advances, Fair Value | 0 | 10,000 |
Carrying Amount [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents, Carrying Amount | 96,583 | 74,189 |
Interest bearing deposits with banks, Carrying Amount | 400 | 150 |
Investment securities held-to-maturity, Carrying Amount | 88,989 | 58,125 |
Loans, Carrying Amount | 875,173 | 762,945 |
Accrued interest receivable, Carrying Amount | 4,013 | 3,599 |
Financial liabilities: | ' | ' |
Deposits, Carrying Amount | 1,183,445 | 1,102,540 |
Accrued interest payable, Carrying Amount | 164 | 161 |
Federal Home Loan Bank advances, Carrying Amount | $0 | $10,000 |