Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 13, 2013 | |
Document Document And Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'LaPorte Bancorp, Inc. | ' |
Entity Central Index Key | '0001549276 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 6,049,822 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from financial institutions | $7,344 | $6,857 |
Interest-earning time deposits in other financial institutions | 7,631 | 7,141 |
Securities available for sale | 167,709 | 125,620 |
Federal Home Loan Bank (FHLB) stock, at cost (restricted) | 3,817 | 3,817 |
Loans held for sale, at fair value | 408 | 1,155 |
Loans, net of allowance for loan losses of $4,227 at September 30, 2013, $4,308 at December 31, 2012 | 273,609 | 313,692 |
Mortgage servicing rights | 373 | 344 |
Other real estate owned | 1,617 | 902 |
Premises and equipment, net | 9,513 | 9,575 |
Goodwill | 8,431 | 8,431 |
Other intangible assets | 295 | 363 |
Bank owned life insurance | 13,570 | 11,263 |
Accrued interest receivable and other assets | 5,322 | 3,595 |
Total assets | 499,639 | 492,755 |
Deposits | ' | ' |
Non-interest bearing | 51,187 | 50,892 |
Interest bearing | 284,260 | 298,078 |
Total deposits | 335,447 | 348,970 |
Federal Home Loan Bank advances | 69,990 | 49,009 |
Subordinated debentures | 5,155 | 5,155 |
Short-term borrowings | 400 | 0 |
Accrued interest payable and other liabilities | 5,246 | 5,566 |
Total liabilities | 416,238 | 408,700 |
Shareholders’ equity | ' | ' |
Preferred stock, no par value; 50,000,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.01 par value; 100,000,000 shares authorized; 6,216,194 shares issued and outstanding at September 30, 2013 and 6,205,250 shares issued and outstanding at December 31, 2012 | 62 | 62 |
Additional paid-in capital | 47,574 | 47,302 |
Retained earnings | 40,105 | 37,745 |
Accumulated other comprehensive income (loss), net of tax (benefit) of $(545) at September 30, 2013 and $1,218 at December 31, 2012 | -1,057 | 2,364 |
Unearned Employee Stock Ownership Plan (ESOP) shares | -3,283 | -3,418 |
Total shareholders’ equity | 83,401 | 84,055 |
Total liabilities and shareholders’ equity | $499,639 | $492,755 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Allowance for loan losses | $4,227 | $4,308 |
Preferred stock, par value (in usd per share) | ' | ' |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in usd per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 6,216,194 | 6,205,250 |
Common stock, shares outstanding | 6,216,194 | 6,205,250 |
Accumulated other comprehensive income, tax | ($545) | $1,218 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and dividend income | ' | ' | ' | ' |
Loans, including fees | $3,374 | $4,227 | $10,492 | $12,335 |
Taxable securities | 489 | 491 | 1,419 | 1,491 |
Tax exempt securities | 364 | 339 | 1,059 | 1,034 |
FHLB stock | 33 | 28 | 100 | 83 |
Other interest income | 22 | 11 | 69 | 26 |
Total interest and dividend income | 4,282 | 5,096 | 13,139 | 14,969 |
Interest expense | ' | ' | ' | ' |
Deposits | 532 | 681 | 1,658 | 2,237 |
Federal Home Loan Bank advances | 251 | 318 | 709 | 953 |
Subordinated debentures | 71 | 71 | 210 | 211 |
FDIC guaranteed unsecured borrowings | 0 | 0 | 0 | 37 |
Federal funds purchased and other short-term borrowings | 1 | 0 | 2 | 2 |
Total interest expense | 855 | 1,070 | 2,579 | 3,440 |
Net interest income | 3,427 | 4,026 | 10,560 | 11,529 |
Provision for loan losses | 100 | 353 | 206 | 884 |
Net interest income after provision for loan losses | 3,327 | 3,673 | 10,354 | 10,645 |
Noninterest income | ' | ' | ' | ' |
Service charges on deposit accounts | 116 | 119 | 324 | 338 |
ATM and debit card fees | 114 | 105 | 325 | 307 |
Earnings on bank owned life insurance, net | 111 | 98 | 307 | 289 |
Net gains on mortgage banking activities | 111 | 436 | 654 | 892 |
Loan servicing fees, net | 28 | -30 | 72 | -28 |
Net gains on securities | 55 | 172 | 545 | 369 |
Losses on other assets | -16 | -77 | -130 | -283 |
Other income | 116 | 274 | 345 | 494 |
Total noninterest income | 635 | 1,097 | 2,442 | 2,378 |
Noninterest expense | ' | ' | ' | ' |
Salaries and employee benefits | 1,688 | 1,589 | 5,007 | 4,818 |
Occupancy and equipment | 437 | 448 | 1,326 | 1,386 |
Data processing | 147 | 137 | 463 | 392 |
Advertising | 64 | 41 | 209 | 161 |
Bank examination fees | 108 | 124 | 309 | 323 |
Amortization of intangible assets | 21 | 27 | 68 | 86 |
FDIC insurance | 74 | 91 | 228 | 257 |
Collection and other real estate owned | 40 | 48 | 156 | 113 |
Other expenses | 316 | 298 | 1,037 | 1,002 |
Total noninterest expense | 2,895 | 2,803 | 8,803 | 8,538 |
Income before income taxes | 1,067 | 1,967 | 3,993 | 4,485 |
Income tax expense | 199 | 596 | 888 | 1,145 |
Net income | $868 | $1,371 | $3,105 | $3,340 |
Earnings per share (Note 3): | ' | ' | ' | ' |
Basic (in usd per share) | $0.15 | $0.23 | $0.54 | $0.56 |
Diluted (in usd per share) | $0.15 | $0.23 | $0.53 | $0.56 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $868 | $1,371 | $3,105 | $3,340 |
Unrealized gains/losses on securities: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | -456 | 678 | -5,252 | 1,182 |
Reclassification adjustment for net gains included in net income | -55 | -172 | -545 | -369 |
Net unrealized gains (losses) | -511 | 506 | -5,797 | 813 |
Tax effect | 173 | -171 | 1,971 | -276 |
Net of tax | -338 | 335 | -3,826 | 537 |
Unrealized gains (losses) on cash flow hedges: | ' | ' | ' | ' |
Unrealized holding gains (losses) arising during the period | 134 | 12 | 615 | 67 |
Net unrealized gains (losses) | 134 | 12 | 615 | 67 |
Tax effect | -46 | -4 | -210 | -23 |
Net of tax | 88 | 8 | 405 | 44 |
Total other comprehensive income (loss) | -250 | 343 | -3,421 | 581 |
Comprehensive income (loss) | $618 | $1,714 | ($316) | $3,921 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (USD $) | Total | Unearned ESOP Shares [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) Net of Tax [Member] | Treasury Stock [Member] |
In Thousands, unless otherwise specified | |||||||
Beginning Balance at Dec. 31, 2011 | $55,703 | ($1,357) | $49 | $21,991 | $34,267 | $2,031 | ($1,278) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net income | 3,340 | ' | ' | ' | 3,340 | ' | ' |
Other comprehensive loss | 581 | ' | ' | ' | ' | 581 | ' |
Cash dividends on common stock | -558 | ' | ' | ' | -558 | ' | ' |
ESOP shares earned | 62 | 68 | ' | -6 | ' | ' | ' |
Stock award and option expense | 183 | ' | ' | 183 | ' | ' | ' |
Ending Balance at Sep. 30, 2012 | 59,311 | -1,289 | 49 | 22,168 | 37,049 | 2,612 | -1,278 |
Beginning Balance at Dec. 31, 2012 | 84,055 | -3,418 | 62 | 47,302 | 37,745 | 2,364 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net income | 3,105 | ' | ' | ' | 3,105 | ' | ' |
Other comprehensive loss | -3,421 | ' | ' | ' | ' | -3,421 | ' |
Cash dividends on common stock | -745 | ' | ' | ' | -745 | ' | ' |
ESOP shares earned | 169 | 135 | ' | 34 | ' | ' | ' |
Exercise of stock options, 8,944 shares | 57 | ' | ' | 57 | ' | ' | ' |
Stock award and option expense | 181 | ' | ' | 181 | ' | ' | ' |
Ending Balance at Sep. 30, 2013 | $83,401 | ($3,283) | $62 | $47,574 | $40,105 | ($1,057) | $0 |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' |
Cash dividends (in usd per share) | $0.12 | $0.09 |
ESOP shares earned | 11,242 | 5,964 |
Exercise of stock options (in shares) | 8,944 | 0 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities | ' | ' |
Net income | $3,105 | $3,340 |
Adjustments to reconcile net income to net cash from operating activities: | ' | ' |
Depreciation | 426 | 442 |
Provision for loan losses | 206 | 884 |
Net gains on securities | -545 | -369 |
Net gains on sales of loans | -568 | -793 |
Originations of loans held for sale | -23,957 | -34,843 |
Proceeds from sales of loans held for sale | 25,272 | 36,768 |
Recognition of mortgage servicing rights | -86 | -99 |
Amortization of mortgage servicing rights | 104 | 99 |
Net change in loan servicing rights valuation allowance | -47 | 40 |
Net losses on sales of other real estate owned | 10 | 8 |
Write downs of other real estate owned | 119 | 288 |
Earnings on bank owned life insurance, net | -307 | -289 |
Amortization of intangible assets | 68 | 86 |
ESOP compensation expense | 169 | 62 |
Stock compensation expense | 181 | 183 |
Stock options exercised | 57 | 0 |
Amortization of issuance costs of unsecured borrowings | 0 | 19 |
Change in assets and liabilities: | ' | ' |
Accrued interest receivable and other assets | 33 | -826 |
Accrued interest payable and other liabilities | 295 | -91 |
Net cash provided by operating activities | 4,535 | 4,909 |
Cash flows from investing activities | ' | ' |
Net change in loans | 37,732 | -17,832 |
Proceeds from sales of other real estate owned | 1,301 | 335 |
Proceeds from maturities, calls, and principal repayments of securities available for sale | 13,763 | 16,688 |
Proceeds from sales of securities available for sale | 17,824 | 20,633 |
Purchase of bank owned life insurance | -2,000 | 0 |
Purchase of interest-earning time deposits at other financial institutions | -490 | -3,430 |
Purchases of securities available for sale | -78,927 | -25,847 |
Premises and equipment expenditures, net | -364 | -139 |
Net cash utilized in investing activities | -11,161 | -9,592 |
Cash flows from financing activities | ' | ' |
Net change in deposits | -13,523 | 29,834 |
Proceeds from FHLB long-term advances | 15,000 | 27,500 |
Repayment of FHLB long-term advances | -5,021 | -46,025 |
Net change in FHLB short-term advances | 11,002 | -1,785 |
Net change in short-term borrowings | 400 | 0 |
Dividends paid on common stock | -745 | -558 |
Repayment of FDIC guaranteed unsecured borrowings | 0 | -5,000 |
Net cash provided by financing activities | 7,113 | 3,966 |
Net change in cash and cash equivalents | 487 | -717 |
Cash and cash equivalents at beginning of period | 6,857 | 8,146 |
Cash and cash equivalents at end of period | 7,344 | 7,429 |
Cash paid during the period for: | ' | ' |
Interest | 2,583 | 3,620 |
Income taxes | 910 | 1,201 |
Supplemental noncash disclosures: | ' | ' |
Transfers from loans receivable to other real estate owned | $2,145 | $463 |
BASIS_OF_PRESENTATION_AND_CONS
BASIS OF PRESENTATION AND CONSOLIDATION | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
BASIS OF PRESENTATION AND CONSOLIDATION | ' |
BASIS OF PRESENTATION AND CONSOLIDATION | |
The unaudited consolidated financial statements included herein include the accounts of LaPorte Bancorp, Inc., a Maryland corporation (“New LaPorte”), successor to LaPorte Bancorp, Inc., a Federal corporation (“LaPorte-Federal”), its wholly owned subsidiary, The LaPorte Savings Bank (the “Bank”), the Bank’s wholly owned subsidiary, LSB Investments, Inc., (“LSB Inc.”) and LSB Inc.’s wholly owned subsidiary, LSB Real Estate, Inc., (“LSB REIT”), together referred to as the "Company”. LaPorte-Federal was formed in October 2007. New LaPorte was formed in June 2012. LSB Inc. was formed on October 1, 2011 to manage a portion of the Bank’s investment portfolio. LSB REIT was formed on January 1, 2013. LaPorte-Federal was a majority owned 54.1% subsidiary of LaPorte Savings Bank, MHC through September 30, 2012. These financial statements do not include the transactions and balances of LaPorte Savings Bank, MHC. Intercompany transactions and balances are eliminated in consolidation. | |
On October 4, 2012, the Company completed its conversion and reorganization to the stock holding company form of organization. New LaPorte, the new stock holding company for the Bank, sold 3,384,611 shares of common stock at $8.00 per share, for gross offering proceeds of $27.1 million, in its stock offering. Concurrent with the completion of the offering, shares of common stock of LaPorte-Federal owned by the public were exchanged for 1.3190 shares of New LaPorte’s common stock so that LaPorte-Federal’s existing shareholders own approximately the same percentage of New LaPorte’s common stock as they owned of LaPorte-Federal’s common stock immediately prior to the conversion, as adjusted for the assets of LaPorte Savings Bank, MHC and their receipt of cash in lieu of fractional exchange shares. All share and per share information in this report for periods prior to conversion has been revised to reflect the 1.3190:1 conversion ratio on shares outstanding, including shares of LaPorte-Federal held by the former mutual holding company that were not publicly traded. | |
The unaudited consolidated financial statements included herein have been prepared by management in accordance with U.S. generally accepted accounting principles for interim financial statements and Article 8 of Regulation S-X of the Securities and Exchange Commission. In the opinion of management, the unaudited consolidated financial statements contain all material adjustments (consisting of normal recurring accruals) and disclosures which are necessary in the opinion of management to make the financial statements not misleading and for a fair presentation of the financial position and results of operations for the interim periods presented herein. | |
Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, the interim consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements included in the Form 10-K Annual Report of the Company for the fiscal year ended December 31, 2012. | |
The results for the three and nine month period ended September 30, 2013 may not indicate the results to be expected for the full year ending December 31, 2013. | |
Reclassifications: Some items in the prior year financial statements were reclassified to conform to the current presentation. |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | |
In January 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-1 “Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures About Offsetting Assets and Liabilities.” This ASU clarifies that ordinary trade receivables and receivables are not in the scope of ASU 2011-11. ASU 2011-11 applies only to derivatives, repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria in the Accounting Standards Codification or subject to a master netting arrangement or similar agreement. ASU 2013-1 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Retrospective disclosure is required for all comparative periods presented. The Company has adopted this standard. The effect of applying this standard is reflected in Note 10. | |
In February 2013, the FASB issued ASU No. 2013-2 “Comprehensive Income (Topic 220) – Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income.” This ASU states that accumulated other comprehensive income is to be presented either on the face of the statement where net income of significant amounts reclassified out of accumulated other comprehensive income – but only if the item is required to be reclassified to net income in its entirety in the same reporting period. The Company has adopted this standard. The effect of applying this standard is reflected in Note 9. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
EARNINGS PER SHARE | ' | |||||||||||||||
EARNINGS PER SHARE | ||||||||||||||||
Basic earnings per common share is determined by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period. Employee Stock Ownership Plan (“ESOP”) shares are considered outstanding for this calculation unless unearned. Diluted earnings per common share is determined by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of common share equivalents. Stock options of 215,221 and 280,311 shares for the three months ended September 30, 2013 and 2012, respectively, were not considered in computing diluted earnings per share because they were antidilutive. Stock options of 224,989 and 281,829 shares for the nine months ended September 30, 2013 and 2012, respectively, were not considered in computing diluted earnings per share because they were antidilutive. The factors used in the earnings per common share computation follow: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Basic: | ||||||||||||||||
Net income | $ | 868 | $ | 1,371 | $ | 3,105 | $ | 3,340 | ||||||||
Weighted average common shares outstanding | 6,208,293 | 6,147,689 | 6,206,275 | 6,147,689 | ||||||||||||
Less: Average unallocated ESOP shares | (413,179 | ) | (171,502 | ) | (418,800 | ) | (171,502 | ) | ||||||||
Average shares | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 | ||||||||||||
Basic earnings per common share | $ | 0.15 | $ | 0.23 | $ | 0.54 | $ | 0.56 | ||||||||
Diluted: | ||||||||||||||||
Net income | $ | 868 | $ | 1,371 | $ | 3,105 | $ | 3,340 | ||||||||
Weighted average common shares outstanding for basic earnings per common share | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 | ||||||||||||
Add: Diluted effects of assumed exercises of stock options | 71,626 | 1,518 | 61,858 | — | ||||||||||||
Average shares and dilutive potential common shares | 5,866,740 | 5,977,705 | 5,849,333 | 5,976,187 | ||||||||||||
Diluted earnings per common share | $ | 0.15 | $ | 0.23 | $ | 0.53 | $ | 0.56 | ||||||||
SECURITIES_AVAILABLE_FOR_SALE
SECURITIES AVAILABLE FOR SALE | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ' | |||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ||||||||||||||||||||||||
The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||
U.S. federal agency obligations | $ | 10,414 | $ | 228 | $ | (112 | ) | $ | 10,530 | |||||||||||||||
State and municipal | 50,033 | 1,734 | (533 | ) | 51,234 | |||||||||||||||||||
Mortgage-backed securities – residential | 25,852 | 179 | (331 | ) | 25,700 | |||||||||||||||||||
Government agency sponsored collateralized | 77,231 | 529 | (1,917 | ) | 75,843 | |||||||||||||||||||
mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 4,410 | 24 | (32 | ) | 4,402 | |||||||||||||||||||
Total | $ | 167,940 | $ | 2,694 | $ | (2,925 | ) | $ | 167,709 | |||||||||||||||
December 31, 2012: | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||
U.S. federal agency obligations | $ | 8,045 | $ | 360 | $ | — | $ | 8,405 | ||||||||||||||||
State and municipal | 42,161 | 3,479 | (26 | ) | 45,614 | |||||||||||||||||||
Mortgage-backed securities – residential | 11,819 | 572 | (6 | ) | 12,385 | |||||||||||||||||||
Government agency sponsored collateralized | 54,070 | 1,198 | (112 | ) | 55,156 | |||||||||||||||||||
mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 3,959 | 110 | (9 | ) | 4,060 | |||||||||||||||||||
Total | $ | 120,054 | $ | 5,719 | $ | (153 | ) | $ | 125,620 | |||||||||||||||
At September 30, 2013 and December 31, 2012, all of our mortgage-backed securities were issued by U.S. government-sponsored enterprises and all of our collateralized mortgage obligations were issued by either U.S. government-sponsored enterprises or the U.S. Small Business Administration. | ||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Continuing Unrealized | ||||||||||||||||||||||||
Loss For | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Description of Securities: | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
U.S. federal agency obligations | $ | 2,888 | $ | (112 | ) | $ | — | $ | — | $ | 2,888 | $ | (112 | ) | ||||||||||
State and municipal | 13,485 | (513 | ) | 321 | (20 | ) | 13,806 | (533 | ) | |||||||||||||||
Mortgage-backed securities – residential | 18,940 | (331 | ) | — | — | 18,940 | (331 | ) | ||||||||||||||||
Government agency sponsored | 45,516 | (1,917 | ) | — | — | 45,516 | (1,917 | ) | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 2,257 | (32 | ) | — | — | 2,257 | (32 | ) | ||||||||||||||||
Total temporarily impaired | $ | 83,086 | $ | (2,905 | ) | $ | 321 | $ | (20 | ) | $ | 83,407 | $ | (2,925 | ) | |||||||||
December 31, 2012: | ||||||||||||||||||||||||
Continuing Unrealized | ||||||||||||||||||||||||
Loss For | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Description of Securities: | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
State and municipal | $ | 1,611 | $ | (26 | ) | $ | — | $ | — | $ | 1,611 | $ | (26 | ) | ||||||||||
Mortgage-backed securities – residential | 1,012 | (6 | ) | — | — | 1,012 | (6 | ) | ||||||||||||||||
Government agency sponsored | 12,392 | (112 | ) | — | — | 12,392 | (112 | ) | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 1,489 | (9 | ) | — | — | 1,489 | (9 | ) | ||||||||||||||||
Total temporarily impaired | $ | 16,504 | $ | (153 | ) | $ | — | $ | — | $ | 16,504 | $ | (153 | ) | ||||||||||
At September 30, 2013, the Company held 102 investments in debt securities which were in an unrealized loss position for less than twelve months and one investment in debt securities which was in an unrealized loss position for more than twelve months. At December 31, 2012, the Company held 18 investments in debt securities which were in an unrealized loss position of which all were in an unrealized loss position for less than twelve months. Management periodically evaluates each investment security for potential other-than-temporary impairment, relying primarily on industry analyst reports and observation of market conditions and interest rate fluctuations. Management believes it will be able to collect all amounts due according to the contractual terms of the underlying investment securities and that the noted declines in fair value are considered temporary and due only to normal market interest rate fluctuations. The Company does not intend to sell the securities and is not more likely than not to be required to sell these debt securities before their anticipated recovery. | ||||||||||||||||||||||||
Sales of securities available for sale for the three and nine months ended September 30, 2013 and 2012 were as follows: | ||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds | $ | 1,055 | $ | 2,980 | $ | 17,824 | $ | 20,633 | ||||||||||||||||
Gross gains | 55 | 172 | 545 | 396 | ||||||||||||||||||||
Gross losses | — | — | — | (31 | ) | |||||||||||||||||||
Proceeds from calls of securities available for sale during the three months ended September 30, 2013 and 2012 were $0 and $245, with gross gains of $0 and $0 and gross losses of $0 and $0, respectively. | ||||||||||||||||||||||||
Proceeds from calls of securities available for sale during the nine months ended September 30, 2013 and 2012 were $0 and $4,645, with gross gains of $0 and $4 and gross losses of $0 and $0, respectively. | ||||||||||||||||||||||||
The amortized cost and fair value of debt securities at September 30, 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities and collateralized mortgage obligations (“CMO”), are shown separately. | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | ||||||||||||||||||||
Due from more than one to five years | 23,863 | 24,222 | ||||||||||||||||||||||
Due from more than five to ten years | 27,327 | 27,669 | ||||||||||||||||||||||
Due after ten years | 13,667 | 14,275 | ||||||||||||||||||||||
Subtotal | 64,857 | 66,166 | ||||||||||||||||||||||
Mortgage-backed securities and CMOs | 103,083 | 101,543 | ||||||||||||||||||||||
Total | $ | 167,940 | $ | 167,709 | ||||||||||||||||||||
Securities pledged at September 30, 2013 and December 31, 2012 had a carrying amount of approximately $42,031 and $42,151, respectively, and were pledged to secure public deposits, FHLB advances, short-term borrowings through the Federal Reserve Discount Window, treasury tax and loan payments and cash flow hedges. |
LOANS
LOANS | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||
LOANS | ' | |||||||||||||||||||||||||||||||||||
LOANS | ||||||||||||||||||||||||||||||||||||
Loans at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
Commercial | $ | 120,972 | $ | 124,563 | ||||||||||||||||||||||||||||||||
Mortgage | 32,664 | 36,996 | ||||||||||||||||||||||||||||||||||
Mortgage warehouse | 105,261 | 137,467 | ||||||||||||||||||||||||||||||||||
Residential construction | 2,320 | 1,475 | ||||||||||||||||||||||||||||||||||
Indirect auto | 642 | 1,154 | ||||||||||||||||||||||||||||||||||
Home equity | 11,496 | 12,267 | ||||||||||||||||||||||||||||||||||
Consumer and other | 4,207 | 3,864 | ||||||||||||||||||||||||||||||||||
Subtotal | 277,562 | 317,786 | ||||||||||||||||||||||||||||||||||
Less: Net deferred loan (fees) costs | 274 | 214 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses | (4,227 | ) | (4,308 | ) | ||||||||||||||||||||||||||||||||
Loans, net | $ | 273,609 | $ | 313,692 | ||||||||||||||||||||||||||||||||
As of September 30, 2013, the Bank’s mortgage warehouse division had repurchase agreements with 16 mortgage companies. For the nine months ended September 30, 2013, the mortgage companies originated $1,737,881 in mortgage loans and sold $1,766,341 in mortgage loans. The Bank recorded interest income of $1,063 and mortgage warehouse loan fees of $153 which are included in loan interest income and wire transfer fees of $55 which are included in noninterest income during the three months ended September 30, 2013 attributable to the mortgage warehouse lines. For the nine months ended September 30, 2013, the Bank recorded interest income of $3,350 and mortgage warehouse loan fees of $522 which are included in loan interest income and wire transfer fees of $187 which are included in noninterest income attributable to mortgage warehouse lines. | ||||||||||||||||||||||||||||||||||||
As of September 30, 2012, the Bank’s mortgage warehouse division had repurchase agreements with 12 mortgage companies. For the nine months ended September 30, 2012, the mortgage companies originated $2,058,136 in mortgage loans and sold $2,028,768 in mortgage loans. The Bank recorded interest income of $1,441 and mortgage warehouse loan fees of $233 which are included in loan interest income and wire transfer fees of $77 which are included in noninterest income during the three months ended September 30, 2012 attributable to the mortgage warehouse lines. For the nine months ended September 30, 2012, the Bank recorded interest income of $3,804 and mortgage warehouse loan fees of $615 which are included in loan interest income and wire transfer fees of $201 which are included in noninterest income attributable to the mortgage warehouse lines. | ||||||||||||||||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,161 | $ | 400 | $ | 470 | $ | 2 | $ | 5 | $ | 119 | $ | 80 | $ | — | $ | 4,237 | ||||||||||||||||||
Charge-offs | — | (106 | ) | — | — | (2 | ) | — | (7 | ) | — | (115 | ) | |||||||||||||||||||||||
Recoveries | — | — | — | — | 1 | — | 4 | — | 5 | |||||||||||||||||||||||||||
Provision | 34 | 96 | (29 | ) | (1 | ) | 1 | (5 | ) | 4 | — | 100 | ||||||||||||||||||||||||
Ending balance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
For the three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,137 | $ | 418 | $ | 528 | $ | 8 | $ | 14 | $ | 141 | $ | 22 | $ | — | $ | 4,268 | ||||||||||||||||||
Charge-offs | (209 | ) | (53 | ) | — | — | — | (14 | ) | (49 | ) | — | (325 | ) | ||||||||||||||||||||||
Recoveries | 5 | — | — | — | 1 | — | 3 | — | 9 | |||||||||||||||||||||||||||
Provisions | 121 | 153 | 56 | (2 | ) | (10 | ) | (43 | ) | 78 | — | 353 | ||||||||||||||||||||||||
Ending balance | $ | 3,054 | $ | 518 | $ | 584 | $ | 6 | $ | 5 | $ | 84 | $ | 54 | $ | — | $ | 4,305 | ||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,131 | $ | 401 | $ | 601 | $ | 2 | $ | 7 | $ | 130 | $ | 36 | $ | — | $ | 4,308 | ||||||||||||||||||
Charge-offs | (103 | ) | (174 | ) | — | — | (6 | ) | (22 | ) | (13 | ) | — | (318 | ) | |||||||||||||||||||||
Recoveries | — | 19 | — | — | 1 | — | 11 | — | 31 | |||||||||||||||||||||||||||
Provision | 167 | 144 | (160 | ) | (1 | ) | 3 | 6 | 47 | — | 206 | |||||||||||||||||||||||||
Ending balance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,774 | $ | 374 | $ | 393 | $ | 3 | $ | 19 | $ | 119 | $ | 90 | $ | — | $ | 3,772 | ||||||||||||||||||
Charge-offs | (237 | ) | (85 | ) | — | — | (3 | ) | (29 | ) | (59 | ) | — | (413 | ) | |||||||||||||||||||||
Recoveries | 43 | 2 | — | — | 4 | — | 13 | — | 62 | |||||||||||||||||||||||||||
Provisions | 474 | 227 | 191 | 3 | (15 | ) | (6 | ) | 10 | — | 884 | |||||||||||||||||||||||||
Ending balance | $ | 3,054 | $ | 518 | $ | 584 | $ | 6 | $ | 5 | $ | 84 | $ | 54 | $ | — | $ | 4,305 | ||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,595 | $ | 113 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,708 | ||||||||||||||||||
Collectively evaluated for impairment | 1,600 | 277 | 441 | 1 | 5 | 114 | 81 | — | 2,519 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total ending allowance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 6,776 | $ | 1,745 | $ | — | $ | — | $ | — | $ | 37 | $ | — | $ | — | $ | 8,558 | ||||||||||||||||||
Loans collectively evaluated for impairment | 113,722 | 30,797 | 105,261 | 2,318 | 642 | 11,515 | 4,216 | — | 268,471 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 680 | 127 | — | — | — | — | — | — | 807 | |||||||||||||||||||||||||||
Total ending loan balance | $ | 121,178 | $ | 32,669 | $ | 105,261 | $ | 2,318 | $ | 642 | $ | 11,552 | $ | 4,216 | $ | — | $ | 277,836 | ||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,137 | $ | 132 | $ | — | $ | — | $ | — | $ | 22 | $ | — | $ | — | $ | 1,291 | ||||||||||||||||||
Collectively evaluated for impairment | 1,994 | 269 | 601 | 2 | 7 | 108 | 36 | — | 3,017 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total ending allowance | $ | 3,131 | $ | 401 | $ | 601 | $ | 2 | $ | 7 | $ | 130 | $ | 36 | $ | — | $ | 4,308 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 6,337 | $ | 2,125 | $ | — | $ | — | $ | — | $ | 53 | $ | — | $ | — | $ | 8,515 | ||||||||||||||||||
Loans collectively evaluated for impairment | 117,682 | 34,731 | 137,467 | 1,466 | 1,154 | 12,267 | 3,867 | — | 308,634 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 712 | 139 | — | — | — | — | — | — | 851 | |||||||||||||||||||||||||||
Total ending loan balance | $ | 124,731 | $ | 36,995 | $ | 137,467 | $ | 1,466 | $ | 1,154 | $ | 12,320 | $ | 3,867 | $ | — | $ | 318,000 | ||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
The following table presents information related to impaired loans by class of loans as of September 30, 2013 and | ||||||||||||||||||||||||||||||||||||
December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | ||||||||||||||||||||||||||||||||||
Principal | Investment | Loan Losses | ||||||||||||||||||||||||||||||||||
Balance | Allocated | |||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 2,552 | $ | 2,552 | $ | — | ||||||||||||||||||||||||||||||
Land | 135 | 135 | — | |||||||||||||||||||||||||||||||||
Mortgage | 748 | 749 | — | |||||||||||||||||||||||||||||||||
Home equity | 36 | 37 | — | |||||||||||||||||||||||||||||||||
Subtotal | 3,471 | 3,473 | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 820 | 821 | 428 | |||||||||||||||||||||||||||||||||
Land | 3,268 | 3,268 | 1,167 | |||||||||||||||||||||||||||||||||
Mortgage | 995 | 996 | 113 | |||||||||||||||||||||||||||||||||
Home equity | — | — | — | |||||||||||||||||||||||||||||||||
Subtotal | 5,083 | 5,085 | 1,708 | |||||||||||||||||||||||||||||||||
Total | $ | 8,554 | $ | 8,558 | $ | 1,708 | ||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | ||||||||||||||||||||||||||||||||||
Principal | Investment | Loan Losses | ||||||||||||||||||||||||||||||||||
Balance | Allocated | |||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 2,150 | $ | 2,152 | $ | — | ||||||||||||||||||||||||||||||
Land | 214 | 214 | — | |||||||||||||||||||||||||||||||||
Mortgage | 1,296 | 1,296 | — | |||||||||||||||||||||||||||||||||
Home equity | 31 | 31 | — | |||||||||||||||||||||||||||||||||
Subtotal | 3,691 | 3,693 | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 1,461 | 1,199 | 365 | |||||||||||||||||||||||||||||||||
Land | 2,772 | 2,772 | 772 | |||||||||||||||||||||||||||||||||
Mortgage | 829 | 829 | 132 | |||||||||||||||||||||||||||||||||
Home equity | 22 | 22 | 22 | |||||||||||||||||||||||||||||||||
Subtotal | 5,084 | 4,822 | 1,291 | |||||||||||||||||||||||||||||||||
Total | $ | 8,775 | $ | 8,515 | $ | 1,291 | ||||||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans as of September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 137 | $ | 2 | $ | 908 | $ | 6 | ||||||||||||||||||||||||||||
Land | 135 | — | 184 | — | ||||||||||||||||||||||||||||||||
Mortgage | 694 | — | 1,049 | — | ||||||||||||||||||||||||||||||||
Home equity | 37 | — | 32 | — | ||||||||||||||||||||||||||||||||
Subtotal | 1,003 | 2 | 2,173 | 6 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 1,382 | — | 1,200 | — | ||||||||||||||||||||||||||||||||
Land | 2,688 | — | 2,723 | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,077 | — | 900 | — | ||||||||||||||||||||||||||||||||
Home equity | — | — | 9 | — | ||||||||||||||||||||||||||||||||
Subtotal | 5,147 | — | 4,832 | — | ||||||||||||||||||||||||||||||||
Total | $ | 6,150 | $ | 2 | $ | 7,005 | $ | 6 | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | — | $ | — | $ | 8 | $ | — | ||||||||||||||||||||||||||||
Real estate | 1,350 | 6 | 1,273 | 10 | ||||||||||||||||||||||||||||||||
Land | 1,455 | — | 1,813 | 3 | ||||||||||||||||||||||||||||||||
Mortgage | 552 | 2 | 854 | 10 | ||||||||||||||||||||||||||||||||
Home equity | 25 | — | 16 | — | ||||||||||||||||||||||||||||||||
Subtotal | 3,382 | 8 | 3,964 | 23 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 2,371 | — | 1,451 | — | ||||||||||||||||||||||||||||||||
Land | 1,592 | — | 1,252 | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,043 | — | 825 | — | ||||||||||||||||||||||||||||||||
Home equity | 8 | — | 12 | — | ||||||||||||||||||||||||||||||||
Subtotal | 5,014 | — | 3,540 | — | ||||||||||||||||||||||||||||||||
Total | $ | 8,396 | $ | 8 | $ | 7,504 | $ | 23 | ||||||||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Nonaccrual | Loans Past Due | |||||||||||||||||||||||||||||||||||
Over 90 Days | ||||||||||||||||||||||||||||||||||||
Still Accruing | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 27 | $ | 29 | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate | 875 | 3,292 | — | — | ||||||||||||||||||||||||||||||||
Land | 3,403 | 2,985 | — | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,687 | 1,958 | — | — | ||||||||||||||||||||||||||||||||
Indirect auto | 3 | 5 | — | — | ||||||||||||||||||||||||||||||||
Home equity | 36 | 53 | — | — | ||||||||||||||||||||||||||||||||
Consumer and other | 34 | 39 | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 6,065 | $ | 8,361 | $ | — | $ | — | ||||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater than | Total | Loans Not | Total | |||||||||||||||||||||||||||||||
Days | Days | 90 Days | Past Due | Past Due | ||||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | — | $ | — | $ | — | $ | — | $ | 17,107 | $ | 17,107 | ||||||||||||||||||||||||
Real estate | — | 329 | 873 | 1,202 | 76,517 | 77,719 | ||||||||||||||||||||||||||||||
Five or more family | — | — | — | — | 15,623 | 15,623 | ||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,928 | 1,928 | ||||||||||||||||||||||||||||||
Land | 772 | — | 2,208 | 2,980 | 5,821 | 8,801 | ||||||||||||||||||||||||||||||
Mortgage | 7 | — | 1,139 | 1,146 | 31,523 | 32,669 | ||||||||||||||||||||||||||||||
Mortgage warehouse | — | — | — | — | 105,261 | 105,261 | ||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 2,026 | 2,026 | ||||||||||||||||||||||||||||||
Land | — | — | — | — | 292 | 292 | ||||||||||||||||||||||||||||||
Indirect | 10 | — | 3 | 13 | 629 | 642 | ||||||||||||||||||||||||||||||
Home equity | — | — | 11 | 11 | 11,541 | 11,552 | ||||||||||||||||||||||||||||||
Consumer and other | 7 | — | — | 7 | 4,209 | 4,216 | ||||||||||||||||||||||||||||||
Total | $ | 796 | $ | 329 | $ | 4,234 | $ | 5,359 | $ | 272,477 | $ | 277,836 | ||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of December 31, 2012 by class of loans: | ||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater than | Total | Loans Not | Total | |||||||||||||||||||||||||||||||
Days | Days | 90 Days | Past Due | Past Due | ||||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 67 | $ | — | $ | — | $ | 67 | $ | 20,208 | $ | 20,275 | ||||||||||||||||||||||||
Real estate | 1,019 | 24 | 2,644 | 3,687 | 76,193 | 79,880 | ||||||||||||||||||||||||||||||
Five or more family | — | — | — | — | 14,286 | 14,286 | ||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,795 | 1,795 | ||||||||||||||||||||||||||||||
Land | — | 109 | 2,494 | 2,603 | 5,892 | 8,495 | ||||||||||||||||||||||||||||||
Mortgage | 523 | 283 | 1,469 | 2,275 | 34,720 | 36,995 | ||||||||||||||||||||||||||||||
Mortgage warehouse | — | — | — | — | 137,467 | 137,467 | ||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,099 | 1,099 | ||||||||||||||||||||||||||||||
Land | — | — | — | — | 367 | 367 | ||||||||||||||||||||||||||||||
Indirect auto | 10 | — | 5 | 15 | 1,139 | 1,154 | ||||||||||||||||||||||||||||||
Home equity | 21 | — | 25 | 46 | 12,274 | 12,320 | ||||||||||||||||||||||||||||||
Consumer and other | 3 | — | — | 3 | 3,864 | 3,867 | ||||||||||||||||||||||||||||||
Total | $ | 1,643 | $ | 416 | $ | 6,637 | $ | 8,696 | $ | 309,304 | $ | 318,000 | ||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||||||||||||
A loan modification is considered a troubled debt restructuring when a borrower is experiencing financial difficulty and the Company grants a concession it would not otherwise consider but for the borrower’s financial difficulties. At September 30, 2013 and December 31, 2012, the outstanding balance of loans that were modified as troubled debt restructurings totaled $1,302 and $842, respectively. At September 30, 2013, all of these loans were considered nonperforming troubled debt restructurings except for one commercial real estate loan totaling $974 and one mortgage loan totaling $58. At December 31, 2012, all of these loans were considered nonperforming troubled debt restructurings. The Company did not have any specific reserves allocated to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2013 or December 31, 2012. Troubled debt restructurings previously disclosed resulted in no charge offs during the three and nine months ended September 30, 2013 and $25,000 during the three and nine months ended September 30, 2012. The Company has not committed to lend additional amounts as of September 30, 2013 and December 31, 2012 to customers with outstanding loans that are classified as troubled debt restructurings. | ||||||||||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings that occurred during the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||
For the Three and Nine Months Ended | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real Estate | 1 | $ | 974 | $ | 974 | |||||||||||||||||||||||||||||||
Mortgage | 2 | 43 | 89 | |||||||||||||||||||||||||||||||||
Total | 3 | $ | 1,017 | $ | 1,063 | |||||||||||||||||||||||||||||||
For the Three and Nine Months Ended | ||||||||||||||||||||||||||||||||||||
30-Sep-12 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||||||||||
Consumer and other | 1 | $ | 130 | $ | 40 | |||||||||||||||||||||||||||||||
Total | 1 | $ | 130 | $ | 40 | |||||||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
One commercial real estate loan defaulted within twelve months following the modification for the three and nine months ended September 30, 2013. There were no troubled debt restructurings that defaulted within twelve months following the modification for the three and nine months ended September 30, 2012. | ||||||||||||||||||||||||||||||||||||
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. | ||||||||||||||||||||||||||||||||||||
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed by the Company’s management loan committee. | ||||||||||||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||||||||||
The Company categorized loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. The analysis includes loans with risk ratings of Special Mention, Substandard and Doubtful. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings: | ||||||||||||||||||||||||||||||||||||
Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. | ||||||||||||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. The Bank monitors credit quality on loans not rated through the loan’s individual payment performance. As of September 30, 2013, the most recent analysis performed, the risk category of loans by class of loans was as follows: | ||||||||||||||||||||||||||||||||||||
Not | Pass | Special | Substandard | Doubtful | ||||||||||||||||||||||||||||||||
Rated | Mention | |||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 4 | $ | 16,810 | $ | 293 | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate | — | 67,448 | 5,372 | 4,899 | — | |||||||||||||||||||||||||||||||
Five or more family | 190 | 11,874 | 3,559 | — | — | |||||||||||||||||||||||||||||||
Construction | — | 1,928 | — | — | — | |||||||||||||||||||||||||||||||
Land | — | 5,290 | 108 | 3,403 | — | |||||||||||||||||||||||||||||||
Mortgage | 26,812 | 3,483 | 426 | 1,948 | — | |||||||||||||||||||||||||||||||
Mortgage warehouse | 105,261 | — | — | — | — | |||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | 2,026 | — | — | — | — | |||||||||||||||||||||||||||||||
Land | 292 | — | — | — | — | |||||||||||||||||||||||||||||||
Indirect auto | 642 | — | — | — | — | |||||||||||||||||||||||||||||||
Home equity | 11,110 | 321 | 81 | 40 | — | |||||||||||||||||||||||||||||||
Consumer and other | 3,293 | 688 | 235 | — | — | |||||||||||||||||||||||||||||||
Total | $ | 149,630 | $ | 107,842 | $ | 10,074 | $ | 10,290 | $ | — | ||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
As of December 31, 2012 the risk category of loans by class of loans was as follows: | ||||||||||||||||||||||||||||||||||||
Not | Pass | Special | Substandard | Doubtful | ||||||||||||||||||||||||||||||||
Rated | Mention | |||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 11 | $ | 19,945 | $ | 319 | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate | — | 66,427 | 6,131 | 7,322 | — | |||||||||||||||||||||||||||||||
Five or more family | 203 | 10,410 | 3,673 | — | — | |||||||||||||||||||||||||||||||
Construction | — | 1,795 | — | — | — | |||||||||||||||||||||||||||||||
Land | — | 4,754 | 755 | 2,986 | — | |||||||||||||||||||||||||||||||
Mortgage | 30,121 | 4,077 | 447 | 2,350 | — | |||||||||||||||||||||||||||||||
Mortgage warehouse | 137,467 | — | — | — | — | |||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | 1,099 | — | — | — | — | |||||||||||||||||||||||||||||||
Land | 367 | — | — | — | — | |||||||||||||||||||||||||||||||
Indirect auto | 1,154 | — | — | — | — | |||||||||||||||||||||||||||||||
Home equity | 12,060 | 115 | 86 | 59 | — | |||||||||||||||||||||||||||||||
Consumer and other | 3,036 | 831 | — | — | — | |||||||||||||||||||||||||||||||
Total | $ | 185,518 | $ | 108,354 | $ | 11,411 | $ | 12,717 | $ | — | ||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
Purchased Loans | ||||||||||||||||||||||||||||||||||||
The Company purchased loans during 2007, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The outstanding balance and carrying amount of those loans was as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 27 | $ | 29 | ||||||||||||||||||||||||||||||||
Real estate | 682 | 714 | ||||||||||||||||||||||||||||||||||
Mortgage | 128 | 139 | ||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 837 | $ | 882 | ||||||||||||||||||||||||||||||||
Carrying amount, net of allowance of $0 | $ | 807 | $ | 851 | ||||||||||||||||||||||||||||||||
Accretable yield, or income expected to be collected, is as follows: | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 100 | $ | 155 | $ | 128 | $ | 193 | ||||||||||||||||||||||||||||
Reclassification from non-accretable yield | 1 | 1 | 2 | 4 | ||||||||||||||||||||||||||||||||
Accretion of income | (14 | ) | (15 | ) | (43 | ) | (53 | ) | ||||||||||||||||||||||||||||
Disposals | — | — | — | (3 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 87 | $ | 141 | $ | 87 | $ | 141 | ||||||||||||||||||||||||||||
For the purchased loans disclosed above, the Company did not increase the allowance for loan losses during 2013 or 2012. No allowance for loan losses were reversed during 2013 or 2012. |
FAIR_VALUE
FAIR VALUE | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
FAIR VALUE | ' | |||||||||||||||
FAIR VALUE | ||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: | ||||||||||||||||
Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | ||||||||||||||||
Level 2 – Significant other observable inputs other than Level 1 prices 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. | ||||||||||||||||
Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||
The Company used the following methods and significant assumptions to estimate the fair value of each type of financial asset: | ||||||||||||||||
Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). | ||||||||||||||||
Loans Held for Sale and Loan Commitment Derivatives: The fair value of loans held for sale and residential mortgage loan commitments are determined by obtaining quoted prices for similar loans and commitments with similar interest rates and maturities from major secondary markets (Level 2). | ||||||||||||||||
Derivatives-Interest Rate Swaps: The fair value of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). | ||||||||||||||||
Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals performed by qualified independent third-party appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including cost, comparable sales and the income approach. The cost approach is based on the cost to replace the existing property. The comparable sales approach evaluates the sales prices of comparable properties within the same market area. The income approach considers net operating income generated by the property and the rate of return required by an investor. Adjustments are routinely made in the appraisal process by the independent third-party appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | ||||||||||||||||
Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals performed by qualified independent third-party appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including cost, comparable sales and the income approach. The cost approach is based on the cost to replace the existing property. The comparable sales approach evaluates the sales prices of comparable properties within the same market area. The income approach considers net operating income generated by the property and the rate of return required by an investor. Adjustments are routinely made in the appraisal process by the independent third-party appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. | ||||||||||||||||
The President/Chief Financial Officer (“President/CFO”) and Executive Vice President – Credit (“EVP – Credit”) are responsible for determining the valuation processes and procedures for the fair value measurement of impaired loans and other real estate owned properties. The President/CFO and EVP – Credit review impaired loans and other real estate owned properties on a quarterly basis to determine the accuracy of third party appraisals, auction values, values derived from trade publications and any additional data received from the borrower, and the appropriateness of unobservable inputs, generally discounts due to collection issues and current market conditions which are utilized in determining the fair value. The EVP – Credit determines discounts based on the valuation source and asset type for impaired loans. These discounts are reviewed periodically, annually at a minimum, for appropriateness. Current trends in market values and gains and losses on sales of similar assets are also considered when determining discounts of asset categories. | ||||||||||||||||
The table below presents the valuation methodology and unobservable inputs for impaired loans and other real estate owned at September 30, 2013. | ||||||||||||||||
Valuation | Unobservable | Range of | Average of | |||||||||||||
Methodology | Inputs | Inputs | Inputs | |||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Collateral based measurements | Discounts for changes in market conditions | 20-35% | 29% | ||||||||||||
Land | Collateral based measurements | Discounts for changes in market conditions | 10-55% | 31% | ||||||||||||
Mortgage | Collateral based measurements | Discounts for changes in market conditions | 0-25% | 12% | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Appraisals | Discounts for changes in market conditions | 40% | 40% | ||||||||||||
Land | Appraisals | Discounts for changes in market conditions | 16%-17% | 16% | ||||||||||||
Mortgage | Appraisals | Discounts for changes in market conditions | 26%-45% | 34% | ||||||||||||
The table below presents the valuation methodology and unobservable inputs for impaired loans and other real estate owned at December 31, 2012. | ||||||||||||||||
Valuation | Unobservable | Range of | Average of | |||||||||||||
Methodology | Inputs | Inputs | Inputs | |||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Collateral based measurements | Discounts for changes in market conditions | 10-30% | 20% | ||||||||||||
Land | Collateral based measurements | Discounts for changes in market conditions | 0-40% | 17% | ||||||||||||
Mortgage | Collateral based measurements | Discounts for changes in market conditions | 0-20% | 11% | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Appraisals | Discounts for changes in market conditions | 40% | 40% | ||||||||||||
Land | Appraisals | Discounts for changes in market conditions | 6%-17% | 11% | ||||||||||||
Mortgage | Appraisals | Discounts for changes in market conditions | 7%-29% | 18% | ||||||||||||
Mortgage Servicing Rights: On a quarterly basis, loan servicing rights are evaluated for impairment based on the fair value of the rights as compared to the carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level, based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data (Level 2). | ||||||||||||||||
Fair value at September 30, 2013 was determined using a discount rate of 10.0%, prepayment speeds ranging from 7.5% to 21.9%, depending on the stratification of the specific right, and a weighted average default rate of approximately 0.5%. Fair value at December 31, 2012 was determined using a discount rate of 10.0%, prepayment speeds ranging from 14.9% to 30.3%, depending on the stratification of the specific right, and a weighted average default rate of approximately 0.5%. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized in the following tables: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets | Other | Unobservable | |||||||||||||
for Identical Assets | Observable Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Financial Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. federal agency obligations | $ | 10,530 | $ | — | $ | 10,530 | $ | — | ||||||||
State and municipal | 51,234 | — | 51,234 | — | ||||||||||||
Mortgage-backed securities-residential | 25,700 | — | 25,700 | — | ||||||||||||
Government agency sponsored collateralized mortgage obligations | 75,843 | — | 75,843 | — | ||||||||||||
Corporate debt securities | 4,402 | — | 4,402 | — | ||||||||||||
Total investment securities | $ | 167,709 | $ | — | $ | 167,709 | $ | — | ||||||||
available-for-sale | ||||||||||||||||
Loans held for sale | $ | 408 | $ | — | $ | 408 | $ | — | ||||||||
Derivatives – residential mortgage loan commitments | $ | 46 | $ | — | $ | 46 | $ | — | ||||||||
Financial Liabilities: | ||||||||||||||||
Derivatives – interest rate swaps | $ | (1,369 | ) | $ | — | $ | (1,369 | ) | $ | — | ||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets | Other | Unobservable | |||||||||||||
for Identical Assets | Observable Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Financial Assets: | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. federal agency obligations | $ | 8,405 | $ | — | $ | 8,405 | $ | — | ||||||||
State and municipal | 45,614 | — | 45,614 | — | ||||||||||||
Mortgage-backed securities – residential | 12,385 | — | 12,385 | — | ||||||||||||
Government agency sponsored collateralized mortgage obligations | 55,156 | — | 55,156 | — | ||||||||||||
Corporate debt securities | 4,060 | — | 4,060 | — | ||||||||||||
Total investment securities | $ | 125,620 | $ | — | $ | 125,620 | $ | — | ||||||||
available-for-sale | ||||||||||||||||
Loans held for sale | $ | 1,155 | $ | — | $ | 1,155 | $ | — | ||||||||
Derivatives – residential mortgage loan commitments | $ | 79 | $ | — | $ | 79 | $ | — | ||||||||
Financial Liabilities: | ||||||||||||||||
Derivatives – interest rate swaps | $ | (1,984 | ) | $ | — | $ | (1,984 | ) | $ | — | ||||||
There were no transfers between Level 1 and Level 2 during the periods indicated above. | ||||||||||||||||
Loans held for sale were carried at the fair value of $408 which was made up of the outstanding balance of $400 and an unrealized gain of $8 at September 30, 2013, resulting in a change in unrealized gains of $(44) and $(26) for the three and nine months ended September 30, 2013, respectively. At September 30, 2012, loans held for sale were carried at the fair value of $1,917, which was made up of the outstanding balance of $1,865 and an unrealized gain of $52, resulting in a change in unrealized gains of $25 and $9 for the three and nine months ended September 30, 2012. | ||||||||||||||||
The difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding for loans held for sale was: | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Aggregate | Difference | Contractual | ||||||||||||||
Fair Value | Principal | |||||||||||||||
Loans held for sale | $ | 408 | $ | 8 | $ | 400 | ||||||||||
31-Dec-12 | ||||||||||||||||
Aggregate | Difference | Contractual | ||||||||||||||
Fair Value | Principal | |||||||||||||||
Loans held for sale | $ | 1,155 | $ | 34 | $ | 1,121 | ||||||||||
For items for which the fair value option has been elected, interest income is recorded within the consolidated statements of income and comprehensive income (loss) based on the contractual amount of interest income earned on financial assets (none were delinquent or in nonaccrual status). | ||||||||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Changes in Fair Values for the | ||||||||||||||||
three months ended September 30, 2013 and 2012, | ||||||||||||||||
for the Items Measured at Fair Value | ||||||||||||||||
Pursuant to Election of the Fair Value Option | ||||||||||||||||
Other | Interest | Interest | Total Changes | |||||||||||||
Gains and | Income | Expense | in Fair Values | |||||||||||||
Losses | Included in | |||||||||||||||
Current Period | ||||||||||||||||
Earnings | ||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | (44 | ) | $ | 4 | $ | — | $ | (40 | ) | ||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | 25 | $ | 7 | $ | — | $ | 32 | ||||||||
Changes in Fair Values for the | ||||||||||||||||
nine months ended September 30, 2013 and 2012, | ||||||||||||||||
for the Items Measured at Fair Value | ||||||||||||||||
Pursuant to Election of the Fair Value Option | ||||||||||||||||
Other | Interest | Interest | Total Changes | |||||||||||||
Gains and | Income | Expense | in Fair Values | |||||||||||||
Losses | Included in | |||||||||||||||
Current Period | ||||||||||||||||
Earnings | ||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | (26 | ) | $ | 13 | $ | — | $ | (13 | ) | ||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | 9 | $ | 30 | $ | — | $ | 39 | ||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | $ | 392 | $ | — | $ | — | $ | 392 | ||||||||
Land | 2,101 | — | — | 2,101 | ||||||||||||
Mortgage | 882 | — | — | 882 | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | 102 | — | — | 102 | ||||||||||||
Land | 294 | — | — | 294 | ||||||||||||
Mortgage | 215 | — | — | 215 | ||||||||||||
Mortgage servicing rights | 197 | — | 197 | — | ||||||||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real Estate | $ | 833 | $ | — | $ | — | $ | 833 | ||||||||
Land | 2,000 | — | — | 2,000 | ||||||||||||
Mortgage | 697 | — | — | 697 | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real Estate | 102 | — | — | 102 | ||||||||||||
Land | 385 | — | — | 385 | ||||||||||||
Mortgage | 133 | — | — | 133 | ||||||||||||
Mortgage servicing rights | 273 | — | 273 | — | ||||||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a gross carrying amount of $5,083, with a valuation allowance of $1,708 at September 30, 2013, resulting in an additional provision for loan losses of $138 and $511 for the three and nine months ended September 30, 2013, respectively. At September 30, 2012, impaired loans had a carrying amount of $4,443, with a valuation allowance of $1,372, resulting in an additional provision for loan losses of $201 and $1,281 for the three and nine months ended September 30, 2012. | ||||||||||||||||
Other real estate owned, which is measured at the lower of cost or fair value less costs to sell, had a net carrying amount of $611, which was made up of the outstanding balance of $967 net a valuation allowance of $356 at September 30, 2013, resulting in a write-down of $10 and $119 for the three and nine months ended September 30, 2013, respectively. At September 30, 2012, other real estate owned had a net carrying amount of $795, which was made up of the outstanding balance of $1,069 net a valuation allowance of $275, resulting in a write-down of $88 and $288 for the three and nine months ended September 30, 2012. | ||||||||||||||||
Mortgage servicing rights, which are carried at lower of cost or fair value, were carried at their fair value of $197, which was made up of the outstanding balance of $308, net of a valuation allowance of $111, resulting in a charge of $(11) and $(47) for the three and nine months ended September 30, 2013. At September 30, 2012, mortgage servicing rights were carried at their fair value of $218, which was made up of the outstanding balance of $377, net of a valuation allowance of $159, resulting in a charge of $31 and $40 for the three and nine months ended September 30, 2012. | ||||||||||||||||
The carrying amounts and estimated fair values of financial instruments, at September 30, 2013 are as follows: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Financial assets: | ||||||||||||||||
Cash and due from financial institutions | $ | 7,344 | $ | 7,344 | $ | — | $ | — | ||||||||
Interest-earning time deposits at | 7,631 | — | 7,658 | — | ||||||||||||
other financial institutions | ||||||||||||||||
Securities available for sale | 167,709 | — | 167,709 | — | ||||||||||||
Federal Home Loan Bank stock | 3,817 | N/A | N/A | N/A | ||||||||||||
Loans held for sale | 408 | — | 408 | — | ||||||||||||
Loans, net | 273,609 | — | — | 277,145 | ||||||||||||
Accrued interest receivable | 1,548 | — | 951 | 597 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Deposits | (335,447 | ) | — | (323,432 | ) | — | ||||||||||
Federal Home Loan Bank advances | (69,990 | ) | — | (71,448 | ) | — | ||||||||||
Subordinated debentures | (5,155 | ) | — | — | (5,148 | ) | ||||||||||
Short-term borrowings | (400 | ) | — | (400 | ) | — | ||||||||||
Accrued interest payable | (194 | ) | — | (188 | ) | (6 | ) | |||||||||
Derivatives – interest rate swaps | (1,369 | ) | — | (1,369 | ) | — | ||||||||||
The carrying amounts and estimated fair values of financial instruments, at December 31, 2012 are as follows: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Financial assets: | ||||||||||||||||
Cash and due from financial institutions | $ | 6,857 | $ | 6,857 | $ | — | $ | — | ||||||||
Interest-earning time deposits at other financial institutions | 7,141 | — | 7,197 | — | ||||||||||||
Securities available for sale | 125,620 | — | 125,620 | — | ||||||||||||
Federal Home Loan Bank stock | 3,817 | N/A | N/A | N/A | ||||||||||||
Loans held for sale | 1,155 | — | 1,155 | — | ||||||||||||
Loans, net | 313,692 | — | — | 318,534 | ||||||||||||
Accrued interest receivable | 1,481 | 2 | 802 | 677 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Deposits | (348,970 | ) | — | (347,348 | ) | — | ||||||||||
Federal Home Loan Bank advances | (49,009 | ) | — | (51,059 | ) | — | ||||||||||
Subordinated debentures | (5,155 | ) | — | — | (5,188 | ) | ||||||||||
Accrued interest payable | (198 | ) | — | (196 | ) | (2 | ) | |||||||||
Derivatives – interest rate swaps | (1,984 | ) | — | (1,984 | ) | — | ||||||||||
The methods and assumptions, not previously presented, used to estimate fair value are described as follows: | ||||||||||||||||
Cash and due from financial institutions: The carrying amounts of cash and due from financial institutions approximate fair values and are classified as Level 1. | ||||||||||||||||
Interest-earning time deposits at other financial institutions: The fair values of the Company’s interest-earning time deposits at other financial institutions are estimated using discounted cash flow analyses based on current rates for similar types of interest-earning time deposits and are classified as Level 2. | ||||||||||||||||
Federal Home Loan Bank stock: It is not practical to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on its transferability. | ||||||||||||||||
Loans: The fair values of loans is based on discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | ||||||||||||||||
Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in Level 2 classification. | ||||||||||||||||
Deposits: The fair values disclosed for demand deposits are estimated using a cash flow calculation reduced by decay rate assumptions. These cash flows are discounted to the current market rate and a functional cost to recognize the inherent costs of servicing these accounts. This results in a Level 2 classification. Fair values of fixed rate certificates of deposit are estimated using a cash flow calculation reduced by known maturities, estimated principal payments and estimated early withdrawal amounts. These cash flows are discounted to the current market rate. This results in a Level 2 calculation. | ||||||||||||||||
Federal Home Loan Bank Advances: The fair values of the Company’s Federal Home Loan Bank advances are estimated using discounted cash flow analyses based on current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | ||||||||||||||||
Subordinated Debentures: The fair value of the Company’s subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | ||||||||||||||||
Short-term Borrowings: The carrying amounts of short-term borrowings approximate fair values and are classified Level 2. | ||||||||||||||||
Accrued Interest Receivable/Payable: The carrying amounts of accrued interest approximate fair value resulting in a Level 1, Level 2 or Level 3 classification based on the underlying asset or liability. |
DERIVATIVES
DERIVATIVES | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
DERIVATIVES | ' | |||||||||||||||
DERIVATIVES | ||||||||||||||||
The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swap does not represent an amount exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreement. | ||||||||||||||||
Interest Rate Swaps Designated as Cash Flow Hedges: Interest rate swaps with notional amounts of $30,250 as of September 30, 2013 and December 31, 2012, were designated as cash flow hedges of subordinated debentures, certain CDARS deposits and FHLB advances, and were determined to be fully effective during all periods presented. As such, no amount of ineffectiveness has been included in net income. Therefore, the aggregate fair value of the swaps is recorded in other assets (liabilities) with changes in fair value recorded in other comprehensive income (loss). The amount included in accumulated other comprehensive income (loss) would be reclassified to current earnings should the hedges no longer be considered effective. The hedge would no longer be considered effective if a portion of the hedge becomes ineffective, the item hedged is no longer in existence or the Company discontinues hedge accounting. The Company expects the hedges to remain fully effective during the remaining terms of the swaps. The Company does not expect any amounts to be reclassified from other comprehensive income (loss) over the next 12 months. | ||||||||||||||||
Information related to the interest-rate swaps designated as cash flow hedges as of September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
Subordinated debentures | ||||||||||||||||
Notional amount | $ | 5,000 | $ | 5,000 | ||||||||||||
Fixed interest rate payable | 5.54 | % | 5.54 | % | ||||||||||||
Variable interest rate receivable | 3.35 | % | 3.41 | % | ||||||||||||
(Three month LIBOR plus 3.10%) | ||||||||||||||||
Unrealized losses | (53 | ) | (131 | ) | ||||||||||||
Maturity date | March 26, 2014 | |||||||||||||||
CDARS deposits | ||||||||||||||||
Notional amount | $ | 10,250 | $ | 10,250 | ||||||||||||
Fixed interest rate payable | 3.19 | % | 3.19 | % | ||||||||||||
Variable interest rate receivable | 0.73 | % | 0.76 | % | ||||||||||||
(One month LIBOR plus 0.55%) | ||||||||||||||||
Unrealized losses | (252 | ) | (428 | ) | ||||||||||||
Maturity date | October 9, 2014 | |||||||||||||||
FHLB advance | ||||||||||||||||
Notional amount | $ | 5,000 | $ | 5,000 | ||||||||||||
Fixed interest rate payable | 3.54 | % | 3.54 | % | ||||||||||||
Variable interest rate receivable | 0.47 | % | 0.53 | % | ||||||||||||
(Three month LIBOR plus 0.22%) | ||||||||||||||||
Unrealized losses | (286 | ) | (395 | ) | ||||||||||||
Maturity date | September 20, 2015 | |||||||||||||||
FHLB advance | ||||||||||||||||
Notional amount | $ | 10,000 | $ | 10,000 | ||||||||||||
Fixed interest rate payable | 3.69 | % | 3.69 | % | ||||||||||||
Variable interest rate receivable | 0.52 | % | 0.57 | % | ||||||||||||
(Three month LIBOR plus 0.25%) | ||||||||||||||||
Unrealized losses | (778 | ) | (1,030 | ) | ||||||||||||
Maturity date | July 19, 2016 | |||||||||||||||
Interest expense recorded on these swap transactions totaled $212 and $149 during the three months ended September 30, 2013 and 2012, respectively, and $623 and $442 for the nine months ended September 30, 2013 and 2012, respectively, and is reported as a component of interest expense on subordinated debentures, deposits and FHLB advances. | ||||||||||||||||
The following table presents the net losses recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Income relating to the cash flow derivative instruments for the three months ended September 30, 2013 and 2012: | ||||||||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2013 | 2013 | (Ineffective Portion) | ||||||||||||||
2013 | ||||||||||||||||
Interest rate contracts | $ | 88 | $ | — | $ | — | ||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2012 | 2012 | (Ineffective Portion) | ||||||||||||||
2012 | ||||||||||||||||
Interest rate contracts | $ | 8 | $ | — | $ | — | ||||||||||
The following table presents the net losses recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Income relating to the cash flow derivative instruments for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2013 | 2013 | (Ineffective Portion) | ||||||||||||||
2013 | ||||||||||||||||
Interest rate contracts | $ | 405 | $ | — | $ | — | ||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2012 | 2012 | (Ineffective Portion) | ||||||||||||||
2012 | ||||||||||||||||
Interest rate contracts | $ | 44 | $ | — | $ | — | ||||||||||
The following table reflects the cash flow hedges included in the Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
Notional | Fair | Notional | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Included in other liabilities: | ||||||||||||||||
Interest rate swaps related to: | ||||||||||||||||
Subordinated debentures | $ | (5,000 | ) | $ | (53 | ) | $ | (5,000 | ) | $ | (131 | ) | ||||
CDARS deposits | (10,250 | ) | (252 | ) | (10,250 | ) | (428 | ) | ||||||||
FHLB advances | (15,000 | ) | (1,064 | ) | (15,000 | ) | (1,425 | ) | ||||||||
Total included in other liabilities | $ | (1,369 | ) | $ | (1,984 | ) | ||||||||||
The counterparty to the Company’s derivatives is exposed to credit risk whenever the derivative is in a liability position. As a result, the Company has collateralized the liability with cash and security collateral held in safekeeping by Bank of New York. | ||||||||||||||||
At September 30, 2013 and December 31, 2012, the Company had $220 in cash and securities with a fair value of $2,241 and $2,586, respectively, posted as collateral for these derivatives. |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||
During the month of September 2011, the Company implemented the 2011 Equity Incentive Plan (the “Plan”) which was approved by shareholders on May 10, 2011. The Plan provides for issuance of stock options or restricted share awards to employees and directors. Total shares authorized for issuance under the Plan is 417,543 which is further discussed below. Total compensation cost that has been charged against income for the Plan totaled $61 and $61 for the three months ended September 30, 2013 and 2012, respectively, and $181 and $183 for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||
Stock-Based Compensation | |||||||||||||
Compensation cost is recognized for stock options and restricted stock awards issued to employees or directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. | |||||||||||||
Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |||||||||||||
Stock Options | |||||||||||||
The Plan permits the grant of stock options to its employees or directors for up to 298,246 shares of common stock. Option awards are generally granted with an exercise price equal to the market price of the Company’s common stock at the date of grant; those option awards have vesting periods of 5 years and have 10-year contractual terms. Options granted generally vest 20% annually. | |||||||||||||
The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on historical volatilities of companies within the Company's peer group. The expected term of options granted represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. The fair value of options granted was determined using the following weighted-average assumptions as of the grant date. | |||||||||||||
The Company granted 8,000 options during the three and nine months ended September 30, 2013 and no options during the three and nine months ended September 30, 2012. The fair value of options granted in 2013 was determined by using a risk-free interest rate of 2.32%, an expected term of 7.5 years, an expected stock price volatility of 19.24% and a dividend yield of 1.57%. | |||||||||||||
A summary of the activity in the stock option plan for the nine months ended September 30, 2013 was as follows: | |||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at January 1, 2013 | 281,829 | $ | 6.44 | 8.7 years | $ | 659 | |||||||
Granted | 8,000 | 10.19 | 10.0 years | ||||||||||
Exercised | (8,944 | ) | 6.44 | ||||||||||
Forfeited or expired | (2,982 | ) | 6.44 | ||||||||||
Outstanding at September 30, 2013 | 277,903 | $ | 6.55 | 8.1 years | $ | 1,087 | |||||||
Fully vested and expected to vest | 277,903 | $ | 6.55 | 8.1 years | $ | 1,087 | |||||||
Exercisable at end of period | 100,806 | $ | 6.44 | 8.0 years | $ | 405 | |||||||
A summary of the activity in the stock option plan for the nine months ended September 30, 2012 was as follows: | |||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at January 1, 2012 | 281,829 | $ | 6.44 | 9.7 years | $ | — | |||||||
Granted | — | — | |||||||||||
Exercised | — | — | |||||||||||
Forfeited or expired | — | — | |||||||||||
Outstanding at September 30, 2012 | 281,829 | $ | 6.44 | 9.0 years | $ | — | |||||||
Fully vested and expected to vest | 281,829 | $ | 6.44 | 9.0 years | $ | — | |||||||
Exercisable at end of period | 56,366 | 6.44 | 9.0 years | n/a | |||||||||
During the three and nine months ended September 30, 2013, 8,944 options were exercised which had an intrinsic value of $35. The Company received $58 in cash and realized $20 in tax benefits related to the exercise of these options. The weighted average fair value of options granted was $2.16. There were no options exercised during the three and nine months ended September 30, 2012. As of September 30, 2013, there was $287 of total unrecognized compensation cost related to nonvested stock options granted under the Plan. The cost is expected to be recognized over a weighted-average period of 3.1 years. | |||||||||||||
Restricted Share Awards | |||||||||||||
The Plan provides for the issuance of up to 119,298 of restricted shares to directors and employees. Compensation expense is recognized over the vesting period of the awards based on the fair value of the stock at issue date. The fair value of the stock was determined by obtaining the listed price of the Company’s stock on the grant date. Shares vest 20% annually over five years. 2,388 shares were available for future grants at September 30, 2013. | |||||||||||||
A summary of changes in the Company’s nonvested shares for the nine months ended September 30, 2013 was as follows: | |||||||||||||
Shares | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested at January 1, 2013 | 93,528 | $ | 6.44 | ||||||||||
Granted | 2,000 | 10.19 | |||||||||||
Vested | (23,382 | ) | 6.44 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested at September 30, 2013 | 72,146 | $ | 6.55 | ||||||||||
A summary of changes in the Company’s nonvested shares for the nine months ended September 30, 2012 follows: | |||||||||||||
Shares | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested at January 1, 2012 | 116,910 | $ | 6.44 | ||||||||||
Granted | — | — | |||||||||||
Vested | (23,382 | ) | 6.44 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested at September 30, 2012 | 93,528 | $ | 6.44 | ||||||||||
As of September 30, 2013, there was $466 of total unrecognized compensation cost related to nonvested shares granted under the Plan. The cost is expected to be recognized over a weighted-average period of 3.1 years. For the three and nine months ended September 30, 2013, there were 46,764 shares vested. The total fair value of shares vested at September 30, 2013 was $489. For the three and nine months ended September 30, 2012, there were 23,382 shares vested. The total fair value of shares vested at September 30, 2012 was $192. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Equity [Abstract] | ' | |||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ' | |||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||
A summary of the changes in accumulated other comprehensive income (loss) by component for the three months ended September 30, 2013 is as follows: | ||||||||||||
Gains (Losses) | Unrealized | Total | ||||||||||
on Cash Flow | Gains (Losses) | |||||||||||
Hedges | on Available- | |||||||||||
for-Sale | ||||||||||||
Securities | ||||||||||||
Beginning balance | $ | (992 | ) | $ | 185 | $ | (807 | ) | ||||
Other comprehensive income (loss) before reclassification | 88 | (302 | ) | (214 | ) | |||||||
Amounts reclassified from accumulated other | — | (36 | ) | (36 | ) | |||||||
comprehensive income (loss) | ||||||||||||
Net current period other comprehensive income (loss) | 88 | (338 | ) | (250 | ) | |||||||
Ending balance | $ | (904 | ) | $ | (153 | ) | $ | (1,057 | ) | |||
A summary of the reclassifications out of accumulated other comprehensive income (loss) for the three months ended September 30, 2013 is as follows: | ||||||||||||
Details about | Amount | Affected Line Item | ||||||||||
Accumulated Other | Reclassified from | in the Statement | ||||||||||
Comprehensive | Accumulated Other | Where Net | ||||||||||
Income (Loss) Components | Comprehensive | Income is Presented | ||||||||||
Income (Loss) | ||||||||||||
Unrealized gains and losses on | ||||||||||||
available-for-sale securities: | ||||||||||||
$ | 55 | Net gains on securities | ||||||||||
55 | Total before tax | |||||||||||
(19 | ) | Income tax (expense) benefit | ||||||||||
$ | 36 | Net of tax | ||||||||||
A summary of the changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2013 is as follows: | ||||||||||||
Gains (Losses) | Unrealized | Total | ||||||||||
on Cash Flow | Gains (Losses) | |||||||||||
Hedges | on Available- | |||||||||||
for-Sale | ||||||||||||
Securities | ||||||||||||
Beginning balance | $ | (1,309 | ) | $ | 3,673 | $ | 2,364 | |||||
Other comprehensive income (loss) before reclassification | 405 | (3,466 | ) | (3,061 | ) | |||||||
Amounts reclassified from accumulated | — | (360 | ) | (360 | ) | |||||||
other comprehensive income | ||||||||||||
Net current period other comprehensive income (loss) | 405 | (3,826 | ) | (3,421 | ) | |||||||
Ending balance | $ | (904 | ) | $ | (153 | ) | $ | (1,057 | ) | |||
A summary of the reclassifications out of accumulated other comprehensive income (loss) for the nine months ended September 30, 2013 is as follows: | ||||||||||||
Details about | Amount | Affected Line Item | ||||||||||
Accumulated Other | Reclassified from | in the Statement | ||||||||||
Comprehensive | Accumulated Other | Where Net | ||||||||||
Income (Loss) Components | Comprehensive | Income is Presented | ||||||||||
Income (Loss) | ||||||||||||
Unrealized gains and losses on | ||||||||||||
available-for-sale securities: | ||||||||||||
$ | 545 | Net gains on securities | ||||||||||
545 | Total before tax | |||||||||||
(185 | ) | Income tax (expense) benefit | ||||||||||
$ | 360 | Net of tax | ||||||||||
OFFSETTING_FINANCIAL_ASSETS_AN
OFFSETTING FINANCIAL ASSETS AND LIABILITIES | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Offsetting Financial Assets And Liabilities [Abstract] | ' | |||||||||||||||||||||||
OFFSETTING FINANCIAL ASSETS AND LIABILITIES | ' | |||||||||||||||||||||||
OFFSETTING FINANCIAL ASSETS AND LIABILITIES | ||||||||||||||||||||||||
On January 1, 2013, the Company adopted changes issued by the FASB to the disclosure of offsetting assets and liabilities. These changes require an entity to disclose both gross information and net information about both instruments and transactions eligible for offset in the consolidated balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. The enhanced disclosures will enable users of an entity’s financial statements to understand and evaluate the effect or potential effect of master netting arrangements on an entity’s financial position, including the effect of rights of setoff associated with certain financial instruments and derivative instruments. Other than the additional disclosure requirements, the adoption of these changes had no impact on the Consolidated Financial Statements. | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Net | Financial | Cash | Net | |||||||||||||||||||
Amounts of | Amounts | Amounts of | Instruments | Collateral | Amount | |||||||||||||||||||
Recognized | Offset | Liabilities | Pledged | |||||||||||||||||||||
Liabilities | in the | Presented | ||||||||||||||||||||||
Consolidated | in the | |||||||||||||||||||||||
Balance Sheet | Consolidated | |||||||||||||||||||||||
Balance | ||||||||||||||||||||||||
Sheet | ||||||||||||||||||||||||
Description: | ||||||||||||||||||||||||
Derivatives | $ | 1,369 | $ | — | $ | 1,369 | $ | (2,241 | ) | $ | (220 | ) | $ | (1,092 | ) | |||||||||
Repurchase agreements | 362 | — | 362 | (362 | ) | — | — | |||||||||||||||||
Total | $ | 1,731 | $ | — | $ | 1,731 | $ | (2,603 | ) | $ | (220 | ) | $ | (1,092 | ) | |||||||||
December 31, 2012: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Net | Financial | Cash | Net | |||||||||||||||||||
Amounts of | Amounts | Amounts of | Instruments | Collateral | Amount | |||||||||||||||||||
Recognized | Offset | Liabilities | Pledged | |||||||||||||||||||||
Liabilities | in the | Presented | ||||||||||||||||||||||
Consolidated | in the | |||||||||||||||||||||||
Balance Sheet | Consolidated | |||||||||||||||||||||||
Balance | ||||||||||||||||||||||||
Sheet | ||||||||||||||||||||||||
Description: | ||||||||||||||||||||||||
Derivatives | $ | 1,984 | $ | — | $ | 1,984 | $ | (2,586 | ) | $ | (220 | ) | $ | (822 | ) | |||||||||
Repurchase agreements | 517 | — | 517 | (517 | ) | — | — | |||||||||||||||||
Total | $ | 2,501 | $ | — | $ | 2,501 | $ | (3,103 | ) | $ | (220 | ) | $ | (822 | ) | |||||||||
If an event of default occurs causing an early termination of an interest rate swap derivative, an early termination amount payable to one party by the other party may be reduced by set-off against any other amount payable by the one party to the other party. If a default in performance of any obligation of a repurchase agreement occurs, each party will set-off property held in respect of transactions against obligations owing in respect of any other transactions. |
BASIS_OF_PRESENTATION_AND_CONS1
BASIS OF PRESENTATION AND CONSOLIDATION (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Reclassifications | ' |
Reclassifications: Some items in the prior year financial statements were reclassified to conform to the current presentation. |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Factors Used in Earnings Per Common Share Computation | ' | |||||||||||||||
The factors used in the earnings per common share computation follow: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Basic: | ||||||||||||||||
Net income | $ | 868 | $ | 1,371 | $ | 3,105 | $ | 3,340 | ||||||||
Weighted average common shares outstanding | 6,208,293 | 6,147,689 | 6,206,275 | 6,147,689 | ||||||||||||
Less: Average unallocated ESOP shares | (413,179 | ) | (171,502 | ) | (418,800 | ) | (171,502 | ) | ||||||||
Average shares | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 | ||||||||||||
Basic earnings per common share | $ | 0.15 | $ | 0.23 | $ | 0.54 | $ | 0.56 | ||||||||
Diluted: | ||||||||||||||||
Net income | $ | 868 | $ | 1,371 | $ | 3,105 | $ | 3,340 | ||||||||
Weighted average common shares outstanding for basic earnings per common share | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 | ||||||||||||
Add: Diluted effects of assumed exercises of stock options | 71,626 | 1,518 | 61,858 | — | ||||||||||||
Average shares and dilutive potential common shares | 5,866,740 | 5,977,705 | 5,849,333 | 5,976,187 | ||||||||||||
Diluted earnings per common share | $ | 0.15 | $ | 0.23 | $ | 0.53 | $ | 0.56 | ||||||||
SECURITIES_AVAILABLE_FOR_SALE_
SECURITIES AVAILABLE FOR SALE (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Amortized Cost and Fair Value of Available-for-Sale Securities and Related Gross Unrealized Gains and Losses | ' | |||||||||||||||||||||||
The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||
U.S. federal agency obligations | $ | 10,414 | $ | 228 | $ | (112 | ) | $ | 10,530 | |||||||||||||||
State and municipal | 50,033 | 1,734 | (533 | ) | 51,234 | |||||||||||||||||||
Mortgage-backed securities – residential | 25,852 | 179 | (331 | ) | 25,700 | |||||||||||||||||||
Government agency sponsored collateralized | 77,231 | 529 | (1,917 | ) | 75,843 | |||||||||||||||||||
mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 4,410 | 24 | (32 | ) | 4,402 | |||||||||||||||||||
Total | $ | 167,940 | $ | 2,694 | $ | (2,925 | ) | $ | 167,709 | |||||||||||||||
December 31, 2012: | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||
Cost | Gains | Losses | ||||||||||||||||||||||
U.S. federal agency obligations | $ | 8,045 | $ | 360 | $ | — | $ | 8,405 | ||||||||||||||||
State and municipal | 42,161 | 3,479 | (26 | ) | 45,614 | |||||||||||||||||||
Mortgage-backed securities – residential | 11,819 | 572 | (6 | ) | 12,385 | |||||||||||||||||||
Government agency sponsored collateralized | 54,070 | 1,198 | (112 | ) | 55,156 | |||||||||||||||||||
mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 3,959 | 110 | (9 | ) | 4,060 | |||||||||||||||||||
Total | $ | 120,054 | $ | 5,719 | $ | (153 | ) | $ | 125,620 | |||||||||||||||
Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time | ' | |||||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Continuing Unrealized | ||||||||||||||||||||||||
Loss For | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Description of Securities: | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
U.S. federal agency obligations | $ | 2,888 | $ | (112 | ) | $ | — | $ | — | $ | 2,888 | $ | (112 | ) | ||||||||||
State and municipal | 13,485 | (513 | ) | 321 | (20 | ) | 13,806 | (533 | ) | |||||||||||||||
Mortgage-backed securities – residential | 18,940 | (331 | ) | — | — | 18,940 | (331 | ) | ||||||||||||||||
Government agency sponsored | 45,516 | (1,917 | ) | — | — | 45,516 | (1,917 | ) | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 2,257 | (32 | ) | — | — | 2,257 | (32 | ) | ||||||||||||||||
Total temporarily impaired | $ | 83,086 | $ | (2,905 | ) | $ | 321 | $ | (20 | ) | $ | 83,407 | $ | (2,925 | ) | |||||||||
December 31, 2012: | ||||||||||||||||||||||||
Continuing Unrealized | ||||||||||||||||||||||||
Loss For | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Description of Securities: | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
State and municipal | $ | 1,611 | $ | (26 | ) | $ | — | $ | — | $ | 1,611 | $ | (26 | ) | ||||||||||
Mortgage-backed securities – residential | 1,012 | (6 | ) | — | — | 1,012 | (6 | ) | ||||||||||||||||
Government agency sponsored | 12,392 | (112 | ) | — | — | 12,392 | (112 | ) | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||||||
Corporate debt securities | 1,489 | (9 | ) | — | — | 1,489 | (9 | ) | ||||||||||||||||
Total temporarily impaired | $ | 16,504 | $ | (153 | ) | $ | — | $ | — | $ | 16,504 | $ | (153 | ) | ||||||||||
Sales of Securities Available for Sale | ' | |||||||||||||||||||||||
Sales of securities available for sale for the three and nine months ended September 30, 2013 and 2012 were as follows: | ||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds | $ | 1,055 | $ | 2,980 | $ | 17,824 | $ | 20,633 | ||||||||||||||||
Gross gains | 55 | 172 | 545 | 396 | ||||||||||||||||||||
Gross losses | — | — | — | (31 | ) | |||||||||||||||||||
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | ' | |||||||||||||||||||||||
The amortized cost and fair value of debt securities at September 30, 2013 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities and collateralized mortgage obligations (“CMO”), are shown separately. | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | ||||||||||||||||||||
Due from more than one to five years | 23,863 | 24,222 | ||||||||||||||||||||||
Due from more than five to ten years | 27,327 | 27,669 | ||||||||||||||||||||||
Due after ten years | 13,667 | 14,275 | ||||||||||||||||||||||
Subtotal | 64,857 | 66,166 | ||||||||||||||||||||||
Mortgage-backed securities and CMOs | 103,083 | 101,543 | ||||||||||||||||||||||
Total | $ | 167,940 | $ | 167,709 | ||||||||||||||||||||
LOANS_Tables
LOANS (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Loans and Allowances for Loans Losses | ' | |||||||||||||||||||||||||||||||||||
Loans at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
Commercial | $ | 120,972 | $ | 124,563 | ||||||||||||||||||||||||||||||||
Mortgage | 32,664 | 36,996 | ||||||||||||||||||||||||||||||||||
Mortgage warehouse | 105,261 | 137,467 | ||||||||||||||||||||||||||||||||||
Residential construction | 2,320 | 1,475 | ||||||||||||||||||||||||||||||||||
Indirect auto | 642 | 1,154 | ||||||||||||||||||||||||||||||||||
Home equity | 11,496 | 12,267 | ||||||||||||||||||||||||||||||||||
Consumer and other | 4,207 | 3,864 | ||||||||||||||||||||||||||||||||||
Subtotal | 277,562 | 317,786 | ||||||||||||||||||||||||||||||||||
Less: Net deferred loan (fees) costs | 274 | 214 | ||||||||||||||||||||||||||||||||||
Allowance for loan losses | (4,227 | ) | (4,308 | ) | ||||||||||||||||||||||||||||||||
Loans, net | $ | 273,609 | $ | 313,692 | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses by Portfolio Segment | ' | |||||||||||||||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,161 | $ | 400 | $ | 470 | $ | 2 | $ | 5 | $ | 119 | $ | 80 | $ | — | $ | 4,237 | ||||||||||||||||||
Charge-offs | — | (106 | ) | — | — | (2 | ) | — | (7 | ) | — | (115 | ) | |||||||||||||||||||||||
Recoveries | — | — | — | — | 1 | — | 4 | — | 5 | |||||||||||||||||||||||||||
Provision | 34 | 96 | (29 | ) | (1 | ) | 1 | (5 | ) | 4 | — | 100 | ||||||||||||||||||||||||
Ending balance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
For the three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,137 | $ | 418 | $ | 528 | $ | 8 | $ | 14 | $ | 141 | $ | 22 | $ | — | $ | 4,268 | ||||||||||||||||||
Charge-offs | (209 | ) | (53 | ) | — | — | — | (14 | ) | (49 | ) | — | (325 | ) | ||||||||||||||||||||||
Recoveries | 5 | — | — | — | 1 | — | 3 | — | 9 | |||||||||||||||||||||||||||
Provisions | 121 | 153 | 56 | (2 | ) | (10 | ) | (43 | ) | 78 | — | 353 | ||||||||||||||||||||||||
Ending balance | $ | 3,054 | $ | 518 | $ | 584 | $ | 6 | $ | 5 | $ | 84 | $ | 54 | $ | — | $ | 4,305 | ||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 3,131 | $ | 401 | $ | 601 | $ | 2 | $ | 7 | $ | 130 | $ | 36 | $ | — | $ | 4,308 | ||||||||||||||||||
Charge-offs | (103 | ) | (174 | ) | — | — | (6 | ) | (22 | ) | (13 | ) | — | (318 | ) | |||||||||||||||||||||
Recoveries | — | 19 | — | — | 1 | — | 11 | — | 31 | |||||||||||||||||||||||||||
Provision | 167 | 144 | (160 | ) | (1 | ) | 3 | 6 | 47 | — | 206 | |||||||||||||||||||||||||
Ending balance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 2,774 | $ | 374 | $ | 393 | $ | 3 | $ | 19 | $ | 119 | $ | 90 | $ | — | $ | 3,772 | ||||||||||||||||||
Charge-offs | (237 | ) | (85 | ) | — | — | (3 | ) | (29 | ) | (59 | ) | — | (413 | ) | |||||||||||||||||||||
Recoveries | 43 | 2 | — | — | 4 | — | 13 | — | 62 | |||||||||||||||||||||||||||
Provisions | 474 | 227 | 191 | 3 | (15 | ) | (6 | ) | 10 | — | 884 | |||||||||||||||||||||||||
Ending balance | $ | 3,054 | $ | 518 | $ | 584 | $ | 6 | $ | 5 | $ | 84 | $ | 54 | $ | — | $ | 4,305 | ||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method | ' | |||||||||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,595 | $ | 113 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,708 | ||||||||||||||||||
Collectively evaluated for impairment | 1,600 | 277 | 441 | 1 | 5 | 114 | 81 | — | 2,519 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total ending allowance | $ | 3,195 | $ | 390 | $ | 441 | $ | 1 | $ | 5 | $ | 114 | $ | 81 | $ | — | $ | 4,227 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 6,776 | $ | 1,745 | $ | — | $ | — | $ | — | $ | 37 | $ | — | $ | — | $ | 8,558 | ||||||||||||||||||
Loans collectively evaluated for impairment | 113,722 | 30,797 | 105,261 | 2,318 | 642 | 11,515 | 4,216 | — | 268,471 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 680 | 127 | — | — | — | — | — | — | 807 | |||||||||||||||||||||||||||
Total ending loan balance | $ | 121,178 | $ | 32,669 | $ | 105,261 | $ | 2,318 | $ | 642 | $ | 11,552 | $ | 4,216 | $ | — | $ | 277,836 | ||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Commercial | Mortgage | Mortgage | Residential | Indirect | Home | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||
Warehouse | Construction | Auto | Equity | and Other | ||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,137 | $ | 132 | $ | — | $ | — | $ | — | $ | 22 | $ | — | $ | — | $ | 1,291 | ||||||||||||||||||
Collectively evaluated for impairment | 1,994 | 269 | 601 | 2 | 7 | 108 | 36 | — | 3,017 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total ending allowance | $ | 3,131 | $ | 401 | $ | 601 | $ | 2 | $ | 7 | $ | 130 | $ | 36 | $ | — | $ | 4,308 | ||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 6,337 | $ | 2,125 | $ | — | $ | — | $ | — | $ | 53 | $ | — | $ | — | $ | 8,515 | ||||||||||||||||||
Loans collectively evaluated for impairment | 117,682 | 34,731 | 137,467 | 1,466 | 1,154 | 12,267 | 3,867 | — | 308,634 | |||||||||||||||||||||||||||
Loans acquired with deteriorated credit quality | 712 | 139 | — | — | — | — | — | — | 851 | |||||||||||||||||||||||||||
Total ending loan balance | $ | 124,731 | $ | 36,995 | $ | 137,467 | $ | 1,466 | $ | 1,154 | $ | 12,320 | $ | 3,867 | $ | — | $ | 318,000 | ||||||||||||||||||
Information Related to Impaired Loans by Class of Loans | ' | |||||||||||||||||||||||||||||||||||
The following table presents information related to impaired loans by class of loans as of September 30, 2013 and | ||||||||||||||||||||||||||||||||||||
December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | ||||||||||||||||||||||||||||||||||
Principal | Investment | Loan Losses | ||||||||||||||||||||||||||||||||||
Balance | Allocated | |||||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 2,552 | $ | 2,552 | $ | — | ||||||||||||||||||||||||||||||
Land | 135 | 135 | — | |||||||||||||||||||||||||||||||||
Mortgage | 748 | 749 | — | |||||||||||||||||||||||||||||||||
Home equity | 36 | 37 | — | |||||||||||||||||||||||||||||||||
Subtotal | 3,471 | 3,473 | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 820 | 821 | 428 | |||||||||||||||||||||||||||||||||
Land | 3,268 | 3,268 | 1,167 | |||||||||||||||||||||||||||||||||
Mortgage | 995 | 996 | 113 | |||||||||||||||||||||||||||||||||
Home equity | — | — | — | |||||||||||||||||||||||||||||||||
Subtotal | 5,083 | 5,085 | 1,708 | |||||||||||||||||||||||||||||||||
Total | $ | 8,554 | $ | 8,558 | $ | 1,708 | ||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance for | ||||||||||||||||||||||||||||||||||
Principal | Investment | Loan Losses | ||||||||||||||||||||||||||||||||||
Balance | Allocated | |||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 2,150 | $ | 2,152 | $ | — | ||||||||||||||||||||||||||||||
Land | 214 | 214 | — | |||||||||||||||||||||||||||||||||
Mortgage | 1,296 | 1,296 | — | |||||||||||||||||||||||||||||||||
Home equity | 31 | 31 | — | |||||||||||||||||||||||||||||||||
Subtotal | 3,691 | 3,693 | — | |||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 1,461 | 1,199 | 365 | |||||||||||||||||||||||||||||||||
Land | 2,772 | 2,772 | 772 | |||||||||||||||||||||||||||||||||
Mortgage | 829 | 829 | 132 | |||||||||||||||||||||||||||||||||
Home equity | 22 | 22 | 22 | |||||||||||||||||||||||||||||||||
Subtotal | 5,084 | 4,822 | 1,291 | |||||||||||||||||||||||||||||||||
Total | $ | 8,775 | $ | 8,515 | $ | 1,291 | ||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment | ' | |||||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans as of September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | $ | 137 | $ | 2 | $ | 908 | $ | 6 | ||||||||||||||||||||||||||||
Land | 135 | — | 184 | — | ||||||||||||||||||||||||||||||||
Mortgage | 694 | — | 1,049 | — | ||||||||||||||||||||||||||||||||
Home equity | 37 | — | 32 | — | ||||||||||||||||||||||||||||||||
Subtotal | 1,003 | 2 | 2,173 | 6 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 1,382 | — | 1,200 | — | ||||||||||||||||||||||||||||||||
Land | 2,688 | — | 2,723 | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,077 | — | 900 | — | ||||||||||||||||||||||||||||||||
Home equity | — | — | 9 | — | ||||||||||||||||||||||||||||||||
Subtotal | 5,147 | — | 4,832 | — | ||||||||||||||||||||||||||||||||
Total | $ | 6,150 | $ | 2 | $ | 7,005 | $ | 6 | ||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | — | $ | — | $ | 8 | $ | — | ||||||||||||||||||||||||||||
Real estate | 1,350 | 6 | 1,273 | 10 | ||||||||||||||||||||||||||||||||
Land | 1,455 | — | 1,813 | 3 | ||||||||||||||||||||||||||||||||
Mortgage | 552 | 2 | 854 | 10 | ||||||||||||||||||||||||||||||||
Home equity | 25 | — | 16 | — | ||||||||||||||||||||||||||||||||
Subtotal | 3,382 | 8 | 3,964 | 23 | ||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real estate | 2,371 | — | 1,451 | — | ||||||||||||||||||||||||||||||||
Land | 1,592 | — | 1,252 | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,043 | — | 825 | — | ||||||||||||||||||||||||||||||||
Home equity | 8 | — | 12 | — | ||||||||||||||||||||||||||||||||
Subtotal | 5,014 | — | 3,540 | — | ||||||||||||||||||||||||||||||||
Total | $ | 8,396 | $ | 8 | $ | 7,504 | $ | 23 | ||||||||||||||||||||||||||||
Investment in Nonaccrual Loans | ' | |||||||||||||||||||||||||||||||||||
The following table presents the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||
Nonaccrual | Loans Past Due | |||||||||||||||||||||||||||||||||||
Over 90 Days | ||||||||||||||||||||||||||||||||||||
Still Accruing | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 27 | $ | 29 | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate | 875 | 3,292 | — | — | ||||||||||||||||||||||||||||||||
Land | 3,403 | 2,985 | — | — | ||||||||||||||||||||||||||||||||
Mortgage | 1,687 | 1,958 | — | — | ||||||||||||||||||||||||||||||||
Indirect auto | 3 | 5 | — | — | ||||||||||||||||||||||||||||||||
Home equity | 36 | 53 | — | — | ||||||||||||||||||||||||||||||||
Consumer and other | 34 | 39 | — | — | ||||||||||||||||||||||||||||||||
Total | $ | 6,065 | $ | 8,361 | $ | — | $ | — | ||||||||||||||||||||||||||||
Aging of Recorded Investment in Past Due Loans | ' | |||||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater than | Total | Loans Not | Total | |||||||||||||||||||||||||||||||
Days | Days | 90 Days | Past Due | Past Due | ||||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | — | $ | — | $ | — | $ | — | $ | 17,107 | $ | 17,107 | ||||||||||||||||||||||||
Real estate | — | 329 | 873 | 1,202 | 76,517 | 77,719 | ||||||||||||||||||||||||||||||
Five or more family | — | — | — | — | 15,623 | 15,623 | ||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,928 | 1,928 | ||||||||||||||||||||||||||||||
Land | 772 | — | 2,208 | 2,980 | 5,821 | 8,801 | ||||||||||||||||||||||||||||||
Mortgage | 7 | — | 1,139 | 1,146 | 31,523 | 32,669 | ||||||||||||||||||||||||||||||
Mortgage warehouse | — | — | — | — | 105,261 | 105,261 | ||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 2,026 | 2,026 | ||||||||||||||||||||||||||||||
Land | — | — | — | — | 292 | 292 | ||||||||||||||||||||||||||||||
Indirect | 10 | — | 3 | 13 | 629 | 642 | ||||||||||||||||||||||||||||||
Home equity | — | — | 11 | 11 | 11,541 | 11,552 | ||||||||||||||||||||||||||||||
Consumer and other | 7 | — | — | 7 | 4,209 | 4,216 | ||||||||||||||||||||||||||||||
Total | $ | 796 | $ | 329 | $ | 4,234 | $ | 5,359 | $ | 272,477 | $ | 277,836 | ||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of December 31, 2012 by class of loans: | ||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater than | Total | Loans Not | Total | |||||||||||||||||||||||||||||||
Days | Days | 90 Days | Past Due | Past Due | ||||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | ||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 67 | $ | — | $ | — | $ | 67 | $ | 20,208 | $ | 20,275 | ||||||||||||||||||||||||
Real estate | 1,019 | 24 | 2,644 | 3,687 | 76,193 | 79,880 | ||||||||||||||||||||||||||||||
Five or more family | — | — | — | — | 14,286 | 14,286 | ||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,795 | 1,795 | ||||||||||||||||||||||||||||||
Land | — | 109 | 2,494 | 2,603 | 5,892 | 8,495 | ||||||||||||||||||||||||||||||
Mortgage | 523 | 283 | 1,469 | 2,275 | 34,720 | 36,995 | ||||||||||||||||||||||||||||||
Mortgage warehouse | — | — | — | — | 137,467 | 137,467 | ||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 1,099 | 1,099 | ||||||||||||||||||||||||||||||
Land | — | — | — | — | 367 | 367 | ||||||||||||||||||||||||||||||
Indirect auto | 10 | — | 5 | 15 | 1,139 | 1,154 | ||||||||||||||||||||||||||||||
Home equity | 21 | — | 25 | 46 | 12,274 | 12,320 | ||||||||||||||||||||||||||||||
Consumer and other | 3 | — | — | 3 | 3,864 | 3,867 | ||||||||||||||||||||||||||||||
Total | $ | 1,643 | $ | 416 | $ | 6,637 | $ | 8,696 | $ | 309,304 | $ | 318,000 | ||||||||||||||||||||||||
Loans by Class Modified as Troubled Debt Restructurings | ' | |||||||||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings that occurred during the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||
For the Three and Nine Months Ended | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Real Estate | 1 | $ | 974 | $ | 974 | |||||||||||||||||||||||||||||||
Mortgage | 2 | 43 | 89 | |||||||||||||||||||||||||||||||||
Total | 3 | $ | 1,017 | $ | 1,063 | |||||||||||||||||||||||||||||||
For the Three and Nine Months Ended | ||||||||||||||||||||||||||||||||||||
30-Sep-12 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||||||||||
Consumer and other | 1 | $ | 130 | $ | 40 | |||||||||||||||||||||||||||||||
Total | 1 | $ | 130 | $ | 40 | |||||||||||||||||||||||||||||||
Risk Category of Loans by Class of Loans | ' | |||||||||||||||||||||||||||||||||||
As of September 30, 2013, the most recent analysis performed, the risk category of loans by class of loans was as follows: | ||||||||||||||||||||||||||||||||||||
Not | Pass | Special | Substandard | Doubtful | ||||||||||||||||||||||||||||||||
Rated | Mention | |||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 4 | $ | 16,810 | $ | 293 | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate | — | 67,448 | 5,372 | 4,899 | — | |||||||||||||||||||||||||||||||
Five or more family | 190 | 11,874 | 3,559 | — | — | |||||||||||||||||||||||||||||||
Construction | — | 1,928 | — | — | — | |||||||||||||||||||||||||||||||
Land | — | 5,290 | 108 | 3,403 | — | |||||||||||||||||||||||||||||||
Mortgage | 26,812 | 3,483 | 426 | 1,948 | — | |||||||||||||||||||||||||||||||
Mortgage warehouse | 105,261 | — | — | — | — | |||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | 2,026 | — | — | — | — | |||||||||||||||||||||||||||||||
Land | 292 | — | — | — | — | |||||||||||||||||||||||||||||||
Indirect auto | 642 | — | — | — | — | |||||||||||||||||||||||||||||||
Home equity | 11,110 | 321 | 81 | 40 | — | |||||||||||||||||||||||||||||||
Consumer and other | 3,293 | 688 | 235 | — | — | |||||||||||||||||||||||||||||||
Total | $ | 149,630 | $ | 107,842 | $ | 10,074 | $ | 10,290 | $ | — | ||||||||||||||||||||||||||
The recorded investment in loans does not include accrued interest. | ||||||||||||||||||||||||||||||||||||
As of December 31, 2012 the risk category of loans by class of loans was as follows: | ||||||||||||||||||||||||||||||||||||
Not | Pass | Special | Substandard | Doubtful | ||||||||||||||||||||||||||||||||
Rated | Mention | |||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 11 | $ | 19,945 | $ | 319 | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate | — | 66,427 | 6,131 | 7,322 | — | |||||||||||||||||||||||||||||||
Five or more family | 203 | 10,410 | 3,673 | — | — | |||||||||||||||||||||||||||||||
Construction | — | 1,795 | — | — | — | |||||||||||||||||||||||||||||||
Land | — | 4,754 | 755 | 2,986 | — | |||||||||||||||||||||||||||||||
Mortgage | 30,121 | 4,077 | 447 | 2,350 | — | |||||||||||||||||||||||||||||||
Mortgage warehouse | 137,467 | — | — | — | — | |||||||||||||||||||||||||||||||
Residential construction: | ||||||||||||||||||||||||||||||||||||
Construction | 1,099 | — | — | — | — | |||||||||||||||||||||||||||||||
Land | 367 | — | — | — | — | |||||||||||||||||||||||||||||||
Indirect auto | 1,154 | — | — | — | — | |||||||||||||||||||||||||||||||
Home equity | 12,060 | 115 | 86 | 59 | — | |||||||||||||||||||||||||||||||
Consumer and other | 3,036 | 831 | — | — | — | |||||||||||||||||||||||||||||||
Total | $ | 185,518 | $ | 108,354 | $ | 11,411 | $ | 12,717 | $ | — | ||||||||||||||||||||||||||
Outstanding Balance and Carrying Amount of Purchased Loan | ' | |||||||||||||||||||||||||||||||||||
The outstanding balance and carrying amount of those loans was as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||||||
Commercial and other | $ | 27 | $ | 29 | ||||||||||||||||||||||||||||||||
Real estate | 682 | 714 | ||||||||||||||||||||||||||||||||||
Mortgage | 128 | 139 | ||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 837 | $ | 882 | ||||||||||||||||||||||||||||||||
Carrying amount, net of allowance of $0 | $ | 807 | $ | 851 | ||||||||||||||||||||||||||||||||
Accretable Yield, or Income Expected to be Collected on Purchased Loans | ' | |||||||||||||||||||||||||||||||||||
Accretable yield, or income expected to be collected, is as follows: | ||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 100 | $ | 155 | $ | 128 | $ | 193 | ||||||||||||||||||||||||||||
Reclassification from non-accretable yield | 1 | 1 | 2 | 4 | ||||||||||||||||||||||||||||||||
Accretion of income | (14 | ) | (15 | ) | (43 | ) | (53 | ) | ||||||||||||||||||||||||||||
Disposals | — | — | — | (3 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 87 | $ | 141 | $ | 87 | $ | 141 | ||||||||||||||||||||||||||||
FAIR_VALUE_Tables
FAIR VALUE (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Valuation Methodology and Unobservable Inputs for Impaired Loans and Other Real Estate Owned | ' | |||||||||||||||
The table below presents the valuation methodology and unobservable inputs for impaired loans and other real estate owned at September 30, 2013. | ||||||||||||||||
Valuation | Unobservable | Range of | Average of | |||||||||||||
Methodology | Inputs | Inputs | Inputs | |||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Collateral based measurements | Discounts for changes in market conditions | 20-35% | 29% | ||||||||||||
Land | Collateral based measurements | Discounts for changes in market conditions | 10-55% | 31% | ||||||||||||
Mortgage | Collateral based measurements | Discounts for changes in market conditions | 0-25% | 12% | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Appraisals | Discounts for changes in market conditions | 40% | 40% | ||||||||||||
Land | Appraisals | Discounts for changes in market conditions | 16%-17% | 16% | ||||||||||||
Mortgage | Appraisals | Discounts for changes in market conditions | 26%-45% | 34% | ||||||||||||
The table below presents the valuation methodology and unobservable inputs for impaired loans and other real estate owned at December 31, 2012. | ||||||||||||||||
Valuation | Unobservable | Range of | Average of | |||||||||||||
Methodology | Inputs | Inputs | Inputs | |||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Collateral based measurements | Discounts for changes in market conditions | 10-30% | 20% | ||||||||||||
Land | Collateral based measurements | Discounts for changes in market conditions | 0-40% | 17% | ||||||||||||
Mortgage | Collateral based measurements | Discounts for changes in market conditions | 0-20% | 11% | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | Appraisals | Discounts for changes in market conditions | 40% | 40% | ||||||||||||
Land | Appraisals | Discounts for changes in market conditions | 6%-17% | 11% | ||||||||||||
Mortgage | Appraisals | Discounts for changes in market conditions | 7%-29% | 18% | ||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring basis | ' | |||||||||||||||
Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized in the following tables: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets | Other | Unobservable | |||||||||||||
for Identical Assets | Observable Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Financial Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. federal agency obligations | $ | 10,530 | $ | — | $ | 10,530 | $ | — | ||||||||
State and municipal | 51,234 | — | 51,234 | — | ||||||||||||
Mortgage-backed securities-residential | 25,700 | — | 25,700 | — | ||||||||||||
Government agency sponsored collateralized mortgage obligations | 75,843 | — | 75,843 | — | ||||||||||||
Corporate debt securities | 4,402 | — | 4,402 | — | ||||||||||||
Total investment securities | $ | 167,709 | $ | — | $ | 167,709 | $ | — | ||||||||
available-for-sale | ||||||||||||||||
Loans held for sale | $ | 408 | $ | — | $ | 408 | $ | — | ||||||||
Derivatives – residential mortgage loan commitments | $ | 46 | $ | — | $ | 46 | $ | — | ||||||||
Financial Liabilities: | ||||||||||||||||
Derivatives – interest rate swaps | $ | (1,369 | ) | $ | — | $ | (1,369 | ) | $ | — | ||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in | Significant | Significant | |||||||||||||
Value | Active Markets | Other | Unobservable | |||||||||||||
for Identical Assets | Observable Inputs | Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Financial Assets: | ||||||||||||||||
Investment securities available for sale | ||||||||||||||||
U.S. federal agency obligations | $ | 8,405 | $ | — | $ | 8,405 | $ | — | ||||||||
State and municipal | 45,614 | — | 45,614 | — | ||||||||||||
Mortgage-backed securities – residential | 12,385 | — | 12,385 | — | ||||||||||||
Government agency sponsored collateralized mortgage obligations | 55,156 | — | 55,156 | — | ||||||||||||
Corporate debt securities | 4,060 | — | 4,060 | — | ||||||||||||
Total investment securities | $ | 125,620 | $ | — | $ | 125,620 | $ | — | ||||||||
available-for-sale | ||||||||||||||||
Loans held for sale | $ | 1,155 | $ | — | $ | 1,155 | $ | — | ||||||||
Derivatives – residential mortgage loan commitments | $ | 79 | $ | — | $ | 79 | $ | — | ||||||||
Financial Liabilities: | ||||||||||||||||
Derivatives – interest rate swaps | $ | (1,984 | ) | $ | — | $ | (1,984 | ) | $ | — | ||||||
Difference Between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding for Loans Held for Sale | ' | |||||||||||||||
The difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding for loans held for sale was: | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Aggregate | Difference | Contractual | ||||||||||||||
Fair Value | Principal | |||||||||||||||
Loans held for sale | $ | 408 | $ | 8 | $ | 400 | ||||||||||
31-Dec-12 | ||||||||||||||||
Aggregate | Difference | Contractual | ||||||||||||||
Fair Value | Principal | |||||||||||||||
Loans held for sale | $ | 1,155 | $ | 34 | $ | 1,121 | ||||||||||
Amount of Gains and Losses from Fair Value Changes | ' | |||||||||||||||
The following table presents the amount of gains and losses from fair value changes included in income before income taxes for financial assets carried at fair value for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Changes in Fair Values for the | ||||||||||||||||
three months ended September 30, 2013 and 2012, | ||||||||||||||||
for the Items Measured at Fair Value | ||||||||||||||||
Pursuant to Election of the Fair Value Option | ||||||||||||||||
Other | Interest | Interest | Total Changes | |||||||||||||
Gains and | Income | Expense | in Fair Values | |||||||||||||
Losses | Included in | |||||||||||||||
Current Period | ||||||||||||||||
Earnings | ||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | (44 | ) | $ | 4 | $ | — | $ | (40 | ) | ||||||
Three Months Ended September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | 25 | $ | 7 | $ | — | $ | 32 | ||||||||
Changes in Fair Values for the | ||||||||||||||||
nine months ended September 30, 2013 and 2012, | ||||||||||||||||
for the Items Measured at Fair Value | ||||||||||||||||
Pursuant to Election of the Fair Value Option | ||||||||||||||||
Other | Interest | Interest | Total Changes | |||||||||||||
Gains and | Income | Expense | in Fair Values | |||||||||||||
Losses | Included in | |||||||||||||||
Current Period | ||||||||||||||||
Earnings | ||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | (26 | ) | $ | 13 | $ | — | $ | (13 | ) | ||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Loans held for sale | $ | 9 | $ | 30 | $ | — | $ | 39 | ||||||||
Assets Measured at Fair Value on Non-recurring Basis | ' | |||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
30-Sep-13 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | $ | 392 | $ | — | $ | — | $ | 392 | ||||||||
Land | 2,101 | — | — | 2,101 | ||||||||||||
Mortgage | 882 | — | — | 882 | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real estate | 102 | — | — | 102 | ||||||||||||
Land | 294 | — | — | 294 | ||||||||||||
Mortgage | 215 | — | — | 215 | ||||||||||||
Mortgage servicing rights | 197 | — | 197 | — | ||||||||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Impaired loans: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real Estate | $ | 833 | $ | — | $ | — | $ | 833 | ||||||||
Land | 2,000 | — | — | 2,000 | ||||||||||||
Mortgage | 697 | — | — | 697 | ||||||||||||
Other real estate owned, net: | ||||||||||||||||
Commercial: | ||||||||||||||||
Real Estate | 102 | — | — | 102 | ||||||||||||
Land | 385 | — | — | 385 | ||||||||||||
Mortgage | 133 | — | — | 133 | ||||||||||||
Mortgage servicing rights | 273 | — | 273 | — | ||||||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | |||||||||||||||
The carrying amounts and estimated fair values of financial instruments, at September 30, 2013 are as follows: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Financial assets: | ||||||||||||||||
Cash and due from financial institutions | $ | 7,344 | $ | 7,344 | $ | — | $ | — | ||||||||
Interest-earning time deposits at | 7,631 | — | 7,658 | — | ||||||||||||
other financial institutions | ||||||||||||||||
Securities available for sale | 167,709 | — | 167,709 | — | ||||||||||||
Federal Home Loan Bank stock | 3,817 | N/A | N/A | N/A | ||||||||||||
Loans held for sale | 408 | — | 408 | — | ||||||||||||
Loans, net | 273,609 | — | — | 277,145 | ||||||||||||
Accrued interest receivable | 1,548 | — | 951 | 597 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Deposits | (335,447 | ) | — | (323,432 | ) | — | ||||||||||
Federal Home Loan Bank advances | (69,990 | ) | — | (71,448 | ) | — | ||||||||||
Subordinated debentures | (5,155 | ) | — | — | (5,148 | ) | ||||||||||
Short-term borrowings | (400 | ) | — | (400 | ) | — | ||||||||||
Accrued interest payable | (194 | ) | — | (188 | ) | (6 | ) | |||||||||
Derivatives – interest rate swaps | (1,369 | ) | — | (1,369 | ) | — | ||||||||||
The carrying amounts and estimated fair values of financial instruments, at December 31, 2012 are as follows: | ||||||||||||||||
Fair Value Measurements at | ||||||||||||||||
31-Dec-12 | ||||||||||||||||
Carrying | Quoted Prices in Active | Significant | Significant | |||||||||||||
Value | Markets for | Other | Unobservable | |||||||||||||
Identical Assets | Observable | Inputs | ||||||||||||||
(Level 1) | Inputs | (Level 3) | ||||||||||||||
(Level 2) | ||||||||||||||||
Financial assets: | ||||||||||||||||
Cash and due from financial institutions | $ | 6,857 | $ | 6,857 | $ | — | $ | — | ||||||||
Interest-earning time deposits at other financial institutions | 7,141 | — | 7,197 | — | ||||||||||||
Securities available for sale | 125,620 | — | 125,620 | — | ||||||||||||
Federal Home Loan Bank stock | 3,817 | N/A | N/A | N/A | ||||||||||||
Loans held for sale | 1,155 | — | 1,155 | — | ||||||||||||
Loans, net | 313,692 | — | — | 318,534 | ||||||||||||
Accrued interest receivable | 1,481 | 2 | 802 | 677 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Deposits | (348,970 | ) | — | (347,348 | ) | — | ||||||||||
Federal Home Loan Bank advances | (49,009 | ) | — | (51,059 | ) | — | ||||||||||
Subordinated debentures | (5,155 | ) | — | — | (5,188 | ) | ||||||||||
Accrued interest payable | (198 | ) | — | (196 | ) | (2 | ) | |||||||||
Derivatives – interest rate swaps | (1,984 | ) | — | (1,984 | ) | — | ||||||||||
DERIVATIVES_Tables
DERIVATIVES (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
Interest-Rate Swaps Designated as Cash Flow Hedges | ' | |||||||||||||||
Information related to the interest-rate swaps designated as cash flow hedges as of September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
Subordinated debentures | ||||||||||||||||
Notional amount | $ | 5,000 | $ | 5,000 | ||||||||||||
Fixed interest rate payable | 5.54 | % | 5.54 | % | ||||||||||||
Variable interest rate receivable | 3.35 | % | 3.41 | % | ||||||||||||
(Three month LIBOR plus 3.10%) | ||||||||||||||||
Unrealized losses | (53 | ) | (131 | ) | ||||||||||||
Maturity date | March 26, 2014 | |||||||||||||||
CDARS deposits | ||||||||||||||||
Notional amount | $ | 10,250 | $ | 10,250 | ||||||||||||
Fixed interest rate payable | 3.19 | % | 3.19 | % | ||||||||||||
Variable interest rate receivable | 0.73 | % | 0.76 | % | ||||||||||||
(One month LIBOR plus 0.55%) | ||||||||||||||||
Unrealized losses | (252 | ) | (428 | ) | ||||||||||||
Maturity date | October 9, 2014 | |||||||||||||||
FHLB advance | ||||||||||||||||
Notional amount | $ | 5,000 | $ | 5,000 | ||||||||||||
Fixed interest rate payable | 3.54 | % | 3.54 | % | ||||||||||||
Variable interest rate receivable | 0.47 | % | 0.53 | % | ||||||||||||
(Three month LIBOR plus 0.22%) | ||||||||||||||||
Unrealized losses | (286 | ) | (395 | ) | ||||||||||||
Maturity date | September 20, 2015 | |||||||||||||||
FHLB advance | ||||||||||||||||
Notional amount | $ | 10,000 | $ | 10,000 | ||||||||||||
Fixed interest rate payable | 3.69 | % | 3.69 | % | ||||||||||||
Variable interest rate receivable | 0.52 | % | 0.57 | % | ||||||||||||
(Three month LIBOR plus 0.25%) | ||||||||||||||||
Unrealized losses | (778 | ) | (1,030 | ) | ||||||||||||
Maturity date | July 19, 2016 | |||||||||||||||
Net Losses Recorded in Accumulated Other Comprehensive Income (Loss) and Income Relating to the Cash Flow Derivative | ' | |||||||||||||||
The following table presents the net losses recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Income relating to the cash flow derivative instruments for the three months ended September 30, 2013 and 2012: | ||||||||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2013 | 2013 | (Ineffective Portion) | ||||||||||||||
2013 | ||||||||||||||||
Interest rate contracts | $ | 88 | $ | — | $ | — | ||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2012 | 2012 | (Ineffective Portion) | ||||||||||||||
2012 | ||||||||||||||||
Interest rate contracts | $ | 8 | $ | — | $ | — | ||||||||||
The following table presents the net losses recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Income relating to the cash flow derivative instruments for the nine months ended September 30, 2013 and 2012: | ||||||||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2013 | 2013 | (Ineffective Portion) | ||||||||||||||
2013 | ||||||||||||||||
Interest rate contracts | $ | 405 | $ | — | $ | — | ||||||||||
Net amount of | Net amount of | Net amount of | ||||||||||||||
gain (loss) | gain (loss) reclassified | gain (loss) | ||||||||||||||
recognized in OCI | from OCI to | recognized in other | ||||||||||||||
(Effective Portion) | interest income | non interest income | ||||||||||||||
2012 | 2012 | (Ineffective Portion) | ||||||||||||||
2012 | ||||||||||||||||
Interest rate contracts | $ | 44 | $ | — | $ | — | ||||||||||
Cash Flow Hedges Included in Consolidated Balance Sheets | ' | |||||||||||||||
The following table reflects the cash flow hedges included in the Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012: | ||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||
Notional | Fair | Notional | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Included in other liabilities: | ||||||||||||||||
Interest rate swaps related to: | ||||||||||||||||
Subordinated debentures | $ | (5,000 | ) | $ | (53 | ) | $ | (5,000 | ) | $ | (131 | ) | ||||
CDARS deposits | (10,250 | ) | (252 | ) | (10,250 | ) | (428 | ) | ||||||||
FHLB advances | (15,000 | ) | (1,064 | ) | (15,000 | ) | (1,425 | ) | ||||||||
Total included in other liabilities | $ | (1,369 | ) | $ | (1,984 | ) |
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Summary of Activity in Stock Option Plan | ' | ||||||||||||
A summary of the activity in the stock option plan for the nine months ended September 30, 2013 was as follows: | |||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at January 1, 2013 | 281,829 | $ | 6.44 | 8.7 years | $ | 659 | |||||||
Granted | 8,000 | 10.19 | 10.0 years | ||||||||||
Exercised | (8,944 | ) | 6.44 | ||||||||||
Forfeited or expired | (2,982 | ) | 6.44 | ||||||||||
Outstanding at September 30, 2013 | 277,903 | $ | 6.55 | 8.1 years | $ | 1,087 | |||||||
Fully vested and expected to vest | 277,903 | $ | 6.55 | 8.1 years | $ | 1,087 | |||||||
Exercisable at end of period | 100,806 | $ | 6.44 | 8.0 years | $ | 405 | |||||||
A summary of the activity in the stock option plan for the nine months ended September 30, 2012 was as follows: | |||||||||||||
Shares | Weighted | Weighted | Aggregate | ||||||||||
Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | |||||||||||
Price | Contractual | ||||||||||||
Term | |||||||||||||
Outstanding at January 1, 2012 | 281,829 | $ | 6.44 | 9.7 years | $ | — | |||||||
Granted | — | — | |||||||||||
Exercised | — | — | |||||||||||
Forfeited or expired | — | — | |||||||||||
Outstanding at September 30, 2012 | 281,829 | $ | 6.44 | 9.0 years | $ | — | |||||||
Fully vested and expected to vest | 281,829 | $ | 6.44 | 9.0 years | $ | — | |||||||
Exercisable at end of period | 56,366 | 6.44 | 9.0 years | n/a | |||||||||
Summary of Changes in Company's Nonvested Shares | ' | ||||||||||||
A summary of changes in the Company’s nonvested shares for the nine months ended September 30, 2013 was as follows: | |||||||||||||
Shares | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested at January 1, 2013 | 93,528 | $ | 6.44 | ||||||||||
Granted | 2,000 | 10.19 | |||||||||||
Vested | (23,382 | ) | 6.44 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested at September 30, 2013 | 72,146 | $ | 6.55 | ||||||||||
A summary of changes in the Company’s nonvested shares for the nine months ended September 30, 2012 follows: | |||||||||||||
Shares | Weighted-Average | ||||||||||||
Grant-Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested at January 1, 2012 | 116,910 | $ | 6.44 | ||||||||||
Granted | — | — | |||||||||||
Vested | (23,382 | ) | 6.44 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested at September 30, 2012 | 93,528 | $ | 6.44 | ||||||||||
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Equity [Abstract] | ' | |||||||||||
Summary of Changes in Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||
A summary of the changes in accumulated other comprehensive income (loss) by component for the three months ended September 30, 2013 is as follows: | ||||||||||||
Gains (Losses) | Unrealized | Total | ||||||||||
on Cash Flow | Gains (Losses) | |||||||||||
Hedges | on Available- | |||||||||||
for-Sale | ||||||||||||
Securities | ||||||||||||
Beginning balance | $ | (992 | ) | $ | 185 | $ | (807 | ) | ||||
Other comprehensive income (loss) before reclassification | 88 | (302 | ) | (214 | ) | |||||||
Amounts reclassified from accumulated other | — | (36 | ) | (36 | ) | |||||||
comprehensive income (loss) | ||||||||||||
Net current period other comprehensive income (loss) | 88 | (338 | ) | (250 | ) | |||||||
Ending balance | $ | (904 | ) | $ | (153 | ) | $ | (1,057 | ) | |||
A summary of the changes in accumulated other comprehensive income (loss) by component for the nine months ended September 30, 2013 is as follows: | ||||||||||||
Gains (Losses) | Unrealized | Total | ||||||||||
on Cash Flow | Gains (Losses) | |||||||||||
Hedges | on Available- | |||||||||||
for-Sale | ||||||||||||
Securities | ||||||||||||
Beginning balance | $ | (1,309 | ) | $ | 3,673 | $ | 2,364 | |||||
Other comprehensive income (loss) before reclassification | 405 | (3,466 | ) | (3,061 | ) | |||||||
Amounts reclassified from accumulated | — | (360 | ) | (360 | ) | |||||||
other comprehensive income | ||||||||||||
Net current period other comprehensive income (loss) | 405 | (3,826 | ) | (3,421 | ) | |||||||
Ending balance | $ | (904 | ) | $ | (153 | ) | $ | (1,057 | ) | |||
Summary of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||
A summary of the reclassifications out of accumulated other comprehensive income (loss) for the three months ended September 30, 2013 is as follows: | ||||||||||||
Details about | Amount | Affected Line Item | ||||||||||
Accumulated Other | Reclassified from | in the Statement | ||||||||||
Comprehensive | Accumulated Other | Where Net | ||||||||||
Income (Loss) Components | Comprehensive | Income is Presented | ||||||||||
Income (Loss) | ||||||||||||
Unrealized gains and losses on | ||||||||||||
available-for-sale securities: | ||||||||||||
$ | 55 | Net gains on securities | ||||||||||
55 | Total before tax | |||||||||||
(19 | ) | Income tax (expense) benefit | ||||||||||
$ | 36 | Net of tax | ||||||||||
A summary of the reclassifications out of accumulated other comprehensive income (loss) for the nine months ended September 30, 2013 is as follows: | ||||||||||||
Details about | Amount | Affected Line Item | ||||||||||
Accumulated Other | Reclassified from | in the Statement | ||||||||||
Comprehensive | Accumulated Other | Where Net | ||||||||||
Income (Loss) Components | Comprehensive | Income is Presented | ||||||||||
Income (Loss) | ||||||||||||
Unrealized gains and losses on | ||||||||||||
available-for-sale securities: | ||||||||||||
$ | 545 | Net gains on securities | ||||||||||
545 | Total before tax | |||||||||||
(185 | ) | Income tax (expense) benefit | ||||||||||
$ | 360 | Net of tax | ||||||||||
OFFSETTING_FINANCIAL_ASSETS_AN1
OFFSETTING FINANCIAL ASSETS AND LIABILITIES (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Offsetting Financial Assets And Liabilities [Abstract] | ' | |||||||||||||||||||||||
Summary of Offsetting Financial Assets and Liabilities | ' | |||||||||||||||||||||||
Other than the additional disclosure requirements, the adoption of these changes had no impact on the Consolidated Financial Statements. | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Net | Financial | Cash | Net | |||||||||||||||||||
Amounts of | Amounts | Amounts of | Instruments | Collateral | Amount | |||||||||||||||||||
Recognized | Offset | Liabilities | Pledged | |||||||||||||||||||||
Liabilities | in the | Presented | ||||||||||||||||||||||
Consolidated | in the | |||||||||||||||||||||||
Balance Sheet | Consolidated | |||||||||||||||||||||||
Balance | ||||||||||||||||||||||||
Sheet | ||||||||||||||||||||||||
Description: | ||||||||||||||||||||||||
Derivatives | $ | 1,369 | $ | — | $ | 1,369 | $ | (2,241 | ) | $ | (220 | ) | $ | (1,092 | ) | |||||||||
Repurchase agreements | 362 | — | 362 | (362 | ) | — | — | |||||||||||||||||
Total | $ | 1,731 | $ | — | $ | 1,731 | $ | (2,603 | ) | $ | (220 | ) | $ | (1,092 | ) | |||||||||
December 31, 2012: | ||||||||||||||||||||||||
Gross Amounts Not Offset in the | ||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||
Gross | Gross | Net | Financial | Cash | Net | |||||||||||||||||||
Amounts of | Amounts | Amounts of | Instruments | Collateral | Amount | |||||||||||||||||||
Recognized | Offset | Liabilities | Pledged | |||||||||||||||||||||
Liabilities | in the | Presented | ||||||||||||||||||||||
Consolidated | in the | |||||||||||||||||||||||
Balance Sheet | Consolidated | |||||||||||||||||||||||
Balance | ||||||||||||||||||||||||
Sheet | ||||||||||||||||||||||||
Description: | ||||||||||||||||||||||||
Derivatives | $ | 1,984 | $ | — | $ | 1,984 | $ | (2,586 | ) | $ | (220 | ) | $ | (822 | ) | |||||||||
Repurchase agreements | 517 | — | 517 | (517 | ) | — | — | |||||||||||||||||
Total | $ | 2,501 | $ | — | $ | 2,501 | $ | (3,103 | ) | $ | (220 | ) | $ | (822 | ) | |||||||||
Recovered_Sheet1
Basis of Presentation and Consolidation - Additional Information (Detail) (USD $) | 1 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Oct. 04, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' |
Ownership interest | ' | 54.10% | ' | ' |
Common stock sold (in shares) | 3,384,611 | ' | 6,216,194 | 6,205,250 |
Price of share (in usd per share) | $8 | ' | ' | ' |
Proceeds from sale of common stock | $27.10 | ' | ' | ' |
Number of shares exchanged | 1.319 | ' | ' | ' |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Antidilutive stock options not considered in computing diluted earnings per share | 215,221 | 280,311 | 224,989 | 281,829 |
Earnings_Per_Share_Factors_Use
Earnings Per Share - Factors Used in Earnings Per Common Share Computation (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic: | ' | ' | ' | ' |
Net income | $868 | $1,371 | $3,105 | $3,340 |
Weighted average common shares outstanding | 6,208,293 | 6,147,689 | 6,206,275 | 6,147,689 |
Less: Average unallocated ESOP shares | -413,179 | -171,502 | -418,800 | -171,502 |
Average shares | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 |
Basic earnings per common share (in usd per share) | $0.15 | $0.23 | $0.54 | $0.56 |
Diluted: | ' | ' | ' | ' |
Net income | $868 | $1,371 | $3,105 | $3,340 |
Average shares | 5,795,114 | 5,976,187 | 5,787,475 | 5,976,187 |
Add: Diluted effects of assumed exercises of stock options | 71,626 | 1,518 | 61,858 | 0 |
Average shares and dilutive potential common shares | 5,866,740 | 5,977,705 | 5,849,333 | 5,976,187 |
Diluted earnings per common share (in usd per share) | $0.15 | $0.23 | $0.53 | $0.56 |
Recovered_Sheet2
Securities Available For Sale - Amortized Cost and Fair Value of Available-for-Sale Securities and the Related Gross Unrealized Gains and Losses (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | $167,940 | $120,054 |
Unrealized Gains | 2,694 | 5,719 |
Unrealized Losses | -2,925 | -153 |
Fair Value | 167,709 | 125,620 |
U.S. federal agency obligations [Member] | ' | ' |
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | 10,414 | 8,045 |
Unrealized Gains | 228 | 360 |
Unrealized Losses | -112 | 0 |
Fair Value | 10,530 | 8,405 |
State and municipal [Member] | ' | ' |
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | 50,033 | 42,161 |
Unrealized Gains | 1,734 | 3,479 |
Unrealized Losses | -533 | -26 |
Fair Value | 51,234 | 45,614 |
Mortgage-backed securities - residential [Member] | ' | ' |
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | 25,852 | 11,819 |
Unrealized Gains | 179 | 572 |
Unrealized Losses | -331 | -6 |
Fair Value | 25,700 | 12,385 |
Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | 77,231 | 54,070 |
Unrealized Gains | 529 | 1,198 |
Unrealized Losses | -1,917 | -112 |
Fair Value | 75,843 | 55,156 |
Corporate debt securities [Member] | ' | ' |
Summarizes the amortized cost and fair value of the available-for-sale securities portfolio | ' | ' |
Amortized Cost | 4,410 | 3,959 |
Unrealized Gains | 24 | 110 |
Unrealized Losses | -32 | -9 |
Fair Value | $4,402 | $4,060 |
Securities_Available_For_Sale_1
Securities Available For Sale - Fair Value of Securities with Unrealized Losses, Aggregated by Investment Category and Length of Time (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | $83,086 | $16,504 |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -2,905 | -153 |
Continuing Unrealized Loss For 12 Months or More Fair Value | 321 | 0 |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | -20 | 0 |
Total Fair Value | 83,407 | 16,504 |
Total Unrealized Loss | -2,925 | -153 |
U.S. federal agency obligations [Member] | ' | ' |
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | 2,888 | ' |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -112 | ' |
Continuing Unrealized Loss For 12 Months or More Fair Value | 0 | ' |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | 0 | ' |
Total Fair Value | 2,888 | ' |
Total Unrealized Loss | -112 | ' |
State and municipal [Member] | ' | ' |
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | 13,485 | 1,611 |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -513 | -26 |
Continuing Unrealized Loss For 12 Months or More Fair Value | 321 | 0 |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | -20 | 0 |
Total Fair Value | 13,806 | 1,611 |
Total Unrealized Loss | -533 | -26 |
Mortgage-backed securities - residential [Member] | ' | ' |
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | 18,940 | 1,012 |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -331 | -6 |
Continuing Unrealized Loss For 12 Months or More Fair Value | 0 | 0 |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | 0 | 0 |
Total Fair Value | 18,940 | 1,012 |
Total Unrealized Loss | -331 | -6 |
Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | 45,516 | 12,392 |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -1,917 | -112 |
Continuing Unrealized Loss For 12 Months or More Fair Value | 0 | 0 |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | 0 | 0 |
Total Fair Value | 45,516 | 12,392 |
Total Unrealized Loss | -1,917 | -112 |
Corporate debt securities [Member] | ' | ' |
Fair value of securities with unrealized losses, aggregated by investment category and length of time | ' | ' |
Continuing Unrealized Loss For Less Than 12 Months Fair Value | 2,257 | 1,489 |
Continuing Unrealized Loss For Less Than 12 Months, Unrealized Loss | -32 | -9 |
Continuing Unrealized Loss For 12 Months or More Fair Value | 0 | 0 |
Continuing Unrealized Loss For 12 Months or More, Unrealized Loss | 0 | 0 |
Total Fair Value | 2,257 | 1,489 |
Total Unrealized Loss | ($32) | ($9) |
Securities_Available_For_Sale_2
Securities Available For Sale - Sales of Securities Available for Sale (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Proceeds | $1,055 | $2,980 | $17,824 | $20,633 |
Gross gains | 55 | 172 | 545 | 396 |
Gross losses | $0 | $0 | $0 | ($31) |
Securities_Available_For_Sale_3
Securities Available For Sale - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Investments, Debt and Equity Securities [Abstract] | ' |
Due in one year or less, Amortized Cost | $0 |
Due from more than one to five years, Amortized Cost | 23,863 |
Due from more than five to ten years, Amortized Cost | 27,327 |
Due after ten years, Amortized Cost | 13,667 |
Subtotal, Amortized Cost | 64,857 |
Mortgage-backed securities and CMOs, Amortized Cost | 103,083 |
Total, Amortized Cost Basis | 167,940 |
Due in one year or less, Fair Value | 0 |
Due from more than one to five years, Fair Value | 24,222 |
Due from more than five to ten years, Fair Value | 27,669 |
Due after ten years, Fair Value | 14,275 |
Subtotal, Fair Value | 66,166 |
Mortgage-backed securities and CMOs, Fair Value | 101,543 |
Total, Fair Value | $167,709 |
Securities_Available_For_Sale_4
Securities Available For Sale - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Investment | Investment | Investment | |||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' |
Number of investments in debt securities in unrealized loss position for less than a year | 102 | ' | 102 | ' | ' |
Number of investments in debt securities in unrealized loss position for more than a year | 1 | ' | 1 | ' | ' |
Investment in debt securities which were in an unrealized loss position | ' | ' | ' | ' | 18 |
Unrealized loss position | ' | ' | 'less than twelve months | ' | 'less than twelve months |
Proceeds from maturities, calls and principal | ' | ' | $13,763 | $16,688 | ' |
Gross gains | 55 | 172 | 545 | 396 | ' |
Gross losses | 0 | 0 | 0 | 31 | ' |
Securities pledged, carrying amount | 42,031 | ' | 42,031 | ' | 42,151 |
Calls of securities [Member] | ' | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' |
Proceeds from maturities, calls and principal | 0 | 245 | 0 | 4,645 | ' |
Gross gains | 0 | 0 | 0 | 4 | ' |
Gross losses | $0 | $0 | $0 | $0 | ' |
Loans_Loans_and_Allowances_for
Loans - Loans and Allowances for Loans Losses (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | $277,562 | ' | $317,786 | ' | ' | ' |
Less: Net deferred loan (fees) costs | 274 | ' | 214 | ' | ' | ' |
Allowance for loan losses | -4,227 | -4,237 | -4,308 | -4,305 | -4,268 | -3,772 |
Loans, net | 273,609 | ' | 313,692 | ' | ' | ' |
Commercial [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 120,972 | ' | 124,563 | ' | ' | ' |
Allowance for loan losses | -3,195 | -3,161 | -3,131 | -3,054 | -3,137 | -2,774 |
Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 32,664 | ' | 36,996 | ' | ' | ' |
Allowance for loan losses | -390 | -400 | -401 | -518 | -418 | -374 |
Mortgage warehouse [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 105,261 | ' | 137,467 | ' | ' | ' |
Allowance for loan losses | -441 | -470 | -601 | -584 | -528 | -393 |
Residential construction [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 2,320 | ' | 1,475 | ' | ' | ' |
Allowance for loan losses | -1 | -2 | -2 | -6 | -8 | -3 |
Indirect auto [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 642 | ' | 1,154 | ' | ' | ' |
Allowance for loan losses | -5 | -5 | -7 | -5 | -14 | -19 |
Home equity [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 11,496 | ' | 12,267 | ' | ' | ' |
Allowance for loan losses | -114 | -119 | -130 | -84 | -141 | -119 |
Consumer and other [Member] | ' | ' | ' | ' | ' | ' |
Loans and allowances for loan losses | ' | ' | ' | ' | ' | ' |
Subtotal | 4,207 | ' | 3,864 | ' | ' | ' |
Allowance for loan losses | ($81) | ($80) | ($36) | ($54) | ($22) | ($90) |
Loans_Allowance_for_Loan_Losse
Loans - Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | $4,237 | $4,268 | $4,308 | $3,772 |
Charge-offs | -115 | -325 | -318 | -413 |
Recoveries | 5 | 9 | 31 | 62 |
Provisions | 100 | 353 | 206 | 884 |
Ending balance | 4,227 | 4,305 | 4,227 | 4,305 |
Commercial [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 3,161 | 3,137 | 3,131 | 2,774 |
Charge-offs | 0 | -209 | -103 | -237 |
Recoveries | 0 | 5 | 0 | 43 |
Provisions | 34 | 121 | 167 | 474 |
Ending balance | 3,195 | 3,054 | 3,195 | 3,054 |
Mortgage [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 400 | 418 | 401 | 374 |
Charge-offs | -106 | -53 | -174 | -85 |
Recoveries | 0 | 0 | 19 | 2 |
Provisions | 96 | 153 | 144 | 227 |
Ending balance | 390 | 518 | 390 | 518 |
Mortgage Warehouse [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 470 | 528 | 601 | 393 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | -29 | 56 | -160 | 191 |
Ending balance | 441 | 584 | 441 | 584 |
Residential Construction [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 2 | 8 | 2 | 3 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | -1 | -2 | -1 | 3 |
Ending balance | 1 | 6 | 1 | 6 |
Indirect Auto [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 5 | 14 | 7 | 19 |
Charge-offs | -2 | 0 | -6 | -3 |
Recoveries | 1 | 1 | 1 | 4 |
Provisions | 1 | -10 | 3 | -15 |
Ending balance | 5 | 5 | 5 | 5 |
Home Equity [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 119 | 141 | 130 | 119 |
Charge-offs | 0 | -14 | -22 | -29 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | -5 | -43 | 6 | -6 |
Ending balance | 114 | 84 | 114 | 84 |
Consumer and Other [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 80 | 22 | 36 | 90 |
Charge-offs | -7 | -49 | -13 | -59 |
Recoveries | 4 | 3 | 11 | 13 |
Provisions | 4 | 78 | 47 | 10 |
Ending balance | 81 | 54 | 81 | 54 |
Unallocated [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Beginning balance | 0 | 0 | 0 | 0 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provisions | 0 | 0 | 0 | 0 |
Ending balance | $0 | $0 | $0 | $0 |
Loans_Allowance_for_Loan_Losse1
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | $1,708 | $1,291 |
Collectively evaluated for impairment | 2,519 | 3,017 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 4,227 | 4,308 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 8,558 | 8,515 |
Loans collectively evaluated for impairment | 268,471 | 308,634 |
Loans acquired with deteriorated credit quality | 807 | 851 |
Total ending loan balance | 277,836 | 318,000 |
Commercial [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 1,595 | 1,137 |
Collectively evaluated for impairment | 1,600 | 1,994 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 3,195 | 3,131 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 6,776 | 6,337 |
Loans collectively evaluated for impairment | 113,722 | 117,682 |
Loans acquired with deteriorated credit quality | 680 | 712 |
Total ending loan balance | 121,178 | 124,731 |
Mortgage [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 113 | 132 |
Collectively evaluated for impairment | 277 | 269 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 390 | 401 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 1,745 | 2,125 |
Loans collectively evaluated for impairment | 30,797 | 34,731 |
Loans acquired with deteriorated credit quality | 127 | 139 |
Total ending loan balance | 32,669 | 36,995 |
Mortgage Warehouse [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 441 | 601 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 441 | 601 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 105,261 | 137,467 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | 105,261 | 137,467 |
Residential Construction [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 1 | 2 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 1 | 2 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 2,318 | 1,466 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | 2,318 | 1,466 |
Indirect Auto [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 5 | 7 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 5 | 7 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 642 | 1,154 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | 642 | 1,154 |
Home Equity [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 22 |
Collectively evaluated for impairment | 114 | 108 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 114 | 130 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 37 | 53 |
Loans collectively evaluated for impairment | 11,515 | 12,267 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | 11,552 | 12,320 |
Consumer and Other [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 81 | 36 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 81 | 36 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 4,216 | 3,867 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | 4,216 | 3,867 |
Unallocated [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 0 | 0 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance | 0 | 0 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 0 | 0 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loan balance | $0 | $0 |
Loans_Information_Related_to_I
Loans - Information Related to Impaired Loans by Class of Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Information related to impaired loans by class of loans | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | $3,471 | $3,691 |
With an allowance recorded, Unpaid Principal Balance | 5,083 | 5,084 |
Total, Unpaid Principal Balance | 8,554 | 8,775 |
With no related allowance recorded, Recorded Investment | 3,473 | 3,693 |
With an allowance recorded, Recorded Investment | 5,085 | 4,822 |
Total, Recorded Investment | 8,558 | 8,515 |
With no related allowance recorded, Allowance For Loan Losses Allocated | 0 | 0 |
With an allowance recorded, Allowance For Loan Losses Allocated | 1,708 | 1,291 |
Total, Allowance For Loan Losses Allocated | 1,708 | 1,291 |
Commercial: Real estate [Member] | ' | ' |
Information related to impaired loans by class of loans | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 2,552 | 2,150 |
With an allowance recorded, Unpaid Principal Balance | 820 | 1,461 |
With no related allowance recorded, Recorded Investment | 2,552 | 2,152 |
With an allowance recorded, Recorded Investment | 821 | 1,199 |
With no related allowance recorded, Allowance For Loan Losses Allocated | 0 | 0 |
With an allowance recorded, Allowance For Loan Losses Allocated | 428 | 365 |
Commercial: Land [Member] | ' | ' |
Information related to impaired loans by class of loans | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 135 | 214 |
With an allowance recorded, Unpaid Principal Balance | 3,268 | 2,772 |
With no related allowance recorded, Recorded Investment | 135 | 214 |
With an allowance recorded, Recorded Investment | 3,268 | 2,772 |
With no related allowance recorded, Allowance For Loan Losses Allocated | 0 | 0 |
With an allowance recorded, Allowance For Loan Losses Allocated | 1,167 | 772 |
Mortgage [Member] | ' | ' |
Information related to impaired loans by class of loans | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 748 | 1,296 |
With an allowance recorded, Unpaid Principal Balance | 995 | 829 |
With no related allowance recorded, Recorded Investment | 749 | 1,296 |
With an allowance recorded, Recorded Investment | 996 | 829 |
With no related allowance recorded, Allowance For Loan Losses Allocated | 0 | 0 |
With an allowance recorded, Allowance For Loan Losses Allocated | 113 | 132 |
Home equity [Member] | ' | ' |
Information related to impaired loans by class of loans | ' | ' |
With no related allowance recorded, Unpaid Principal Balance | 36 | 31 |
With an allowance recorded, Unpaid Principal Balance | 0 | 22 |
With no related allowance recorded, Recorded Investment | 37 | 31 |
With an allowance recorded, Recorded Investment | 0 | 22 |
With no related allowance recorded, Allowance For Loan Losses Allocated | 0 | 0 |
With an allowance recorded, Allowance For Loan Losses Allocated | $0 | $22 |
Loans_Loans_Individually_Evalu
Loans - Loans Individually Evaluated for Impairment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | $1,003 | $3,382 | $2,173 | $3,964 |
With an allowance recorded, Average Recorded Investment | 5,147 | 5,014 | 4,832 | 3,540 |
Total, Average Recorded Investment | 6,150 | 8,396 | 7,005 | 7,504 |
With no related allowance recorded, Interest Income Recognized | 2 | 8 | 6 | 23 |
With an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 |
Total, Interest Income Recognized | 2 | 8 | 6 | 23 |
Commercial : Commercial and other [Member] | ' | ' | ' | ' |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | ' | 0 | ' | 8 |
With no related allowance recorded, Interest Income Recognized | ' | 0 | ' | 0 |
Commercial: Real estate [Member] | ' | ' | ' | ' |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 137 | 1,350 | 908 | 1,273 |
With an allowance recorded, Average Recorded Investment | 1,382 | 2,371 | 1,200 | 1,451 |
With no related allowance recorded, Interest Income Recognized | 2 | 6 | 6 | 10 |
With an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 |
Commercial: Land [Member] | ' | ' | ' | ' |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 135 | 1,455 | 184 | 1,813 |
With an allowance recorded, Average Recorded Investment | 2,688 | 1,592 | 2,723 | 1,252 |
With no related allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 3 |
With an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 |
Mortgage [Member] | ' | ' | ' | ' |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 694 | 552 | 1,049 | 854 |
With an allowance recorded, Average Recorded Investment | 1,077 | 1,043 | 900 | 825 |
With no related allowance recorded, Interest Income Recognized | 0 | 2 | 0 | 10 |
With an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 |
Home equity [Member] | ' | ' | ' | ' |
Information related to impaired loans by class of loans | ' | ' | ' | ' |
With no related allowance recorded, Average Recorded Investment | 37 | 25 | 32 | 16 |
With an allowance recorded, Average Recorded Investment | 0 | 8 | 9 | 12 |
With no related allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 |
With an allowance recorded, Interest Income Recognized | $0 | $0 | $0 | $0 |
Loans_Investment_in_Nonaccrual
Loans - Investment in Nonaccrual Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | $6,065 | $8,361 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Commercial : Commercial and other [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 27 | 29 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Commercial: Real estate [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 875 | 3,292 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Commercial: Land [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 3,403 | 2,985 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Mortgage [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 1,687 | 1,958 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Indirect auto [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 3 | 5 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Home equity [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 36 | 53 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Consumer and other [Member] | ' | ' |
Investment in nonaccrual loans and loans past due | ' | ' |
Nonaccrual | 34 | 39 |
Loans Past Due Over 90 Days Still Accruing | $0 | $0 |
Loans_Aging_of_Recorded_Invest
Loans - Aging of Recorded Investment in Past Due Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | $796 | $1,643 |
60-89 Days Past Due | 329 | 416 |
Greater than 90 Days Past Due | 4,234 | 6,637 |
Total Past Due | 5,359 | 8,696 |
Loans Not Past Due | 272,477 | 309,304 |
Total ending loan balance | 277,836 | 318,000 |
Commercial : Commercial and other [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 67 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 67 |
Loans Not Past Due | 17,107 | 20,208 |
Total ending loan balance | 17,107 | 20,275 |
Commercial: Real estate [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 1,019 |
60-89 Days Past Due | 329 | 24 |
Greater than 90 Days Past Due | 873 | 2,644 |
Total Past Due | 1,202 | 3,687 |
Loans Not Past Due | 76,517 | 76,193 |
Total ending loan balance | 77,719 | 79,880 |
Commercial: Five or more family [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Loans Not Past Due | 15,623 | 14,286 |
Total ending loan balance | 15,623 | 14,286 |
Commercial: Construction [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Loans Not Past Due | 1,928 | 1,795 |
Total ending loan balance | 1,928 | 1,795 |
Commercial: Land [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 772 | 0 |
60-89 Days Past Due | 0 | 109 |
Greater than 90 Days Past Due | 2,208 | 2,494 |
Total Past Due | 2,980 | 2,603 |
Loans Not Past Due | 5,821 | 5,892 |
Total ending loan balance | 8,801 | 8,495 |
Mortgage [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 7 | 523 |
60-89 Days Past Due | 0 | 283 |
Greater than 90 Days Past Due | 1,139 | 1,469 |
Total Past Due | 1,146 | 2,275 |
Loans Not Past Due | 31,523 | 34,720 |
Total ending loan balance | 32,669 | 36,995 |
Mortgage warehouse [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Loans Not Past Due | 105,261 | 137,467 |
Total ending loan balance | 105,261 | 137,467 |
Residential Construction: Construction [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Loans Not Past Due | 2,026 | 1,099 |
Total ending loan balance | 2,026 | 1,099 |
Residential Construction: Land [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Loans Not Past Due | 292 | 367 |
Total ending loan balance | 292 | 367 |
Indirect auto [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 10 | 10 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 3 | 5 |
Total Past Due | 13 | 15 |
Loans Not Past Due | 629 | 1,139 |
Total ending loan balance | 642 | 1,154 |
Home equity [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 0 | 21 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 11 | 25 |
Total Past Due | 11 | 46 |
Loans Not Past Due | 11,541 | 12,274 |
Total ending loan balance | 11,552 | 12,320 |
Consumer and other [Member] | ' | ' |
Aging of the recorded investment in past due loans | ' | ' |
30-59 Days Past Due | 7 | 3 |
60-89 Days Past Due | 0 | 0 |
Greater than 90 Days Past Due | 0 | 0 |
Total Past Due | 7 | 3 |
Loans Not Past Due | 4,209 | 3,864 |
Total ending loan balance | $4,216 | $3,867 |
Loans_Loans_by_Class_Modified_
Loans - Loans by Class Modified as TDRs (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
loan | loan | loan | loan | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 3 | 1 | 3 | 1 |
Pre-Modification Outstanding Recorded Investment | $1,017 | $130 | $1,017 | $130 |
Post-Modification Outstanding Recorded Investment | 1,063 | 40 | 1,063 | 40 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 1 | ' | 1 | ' |
Pre-Modification Outstanding Recorded Investment | 974 | ' | 974 | ' |
Post-Modification Outstanding Recorded Investment | 974 | ' | 974 | ' |
Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 2 | ' | 2 | ' |
Pre-Modification Outstanding Recorded Investment | 43 | ' | 43 | ' |
Post-Modification Outstanding Recorded Investment | 89 | ' | 89 | ' |
Consumer and other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | 1 | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 130 | ' | 130 |
Post-Modification Outstanding Recorded Investment | ' | $40 | ' | $40 |
Loans_Risk_Category_of_Loans_b
Loans - Risk Category of Loans by Class of Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Not Rated [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | $149,630 | $185,518 |
Not Rated [Member] | Commercial : Commercial and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 4 | 11 |
Not Rated [Member] | Commercial: Real estate [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Not Rated [Member] | Commercial: Five or more family [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 190 | 203 |
Not Rated [Member] | Commercial: Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Not Rated [Member] | Commercial: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Not Rated [Member] | Mortgage [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 26,812 | 30,121 |
Not Rated [Member] | Mortgage warehouse [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 105,261 | 137,467 |
Not Rated [Member] | Residential Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 2,026 | 1,099 |
Not Rated [Member] | Residential Construction: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 292 | 367 |
Not Rated [Member] | Indirect auto [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 642 | 1,154 |
Not Rated [Member] | Home equity [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 11,110 | 12,060 |
Not Rated [Member] | Consumer and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 3,293 | 3,036 |
Pass [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 107,842 | 108,354 |
Pass [Member] | Commercial : Commercial and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 16,810 | 19,945 |
Pass [Member] | Commercial: Real estate [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 67,448 | 66,427 |
Pass [Member] | Commercial: Five or more family [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 11,874 | 10,410 |
Pass [Member] | Commercial: Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 1,928 | 1,795 |
Pass [Member] | Commercial: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 5,290 | 4,754 |
Pass [Member] | Mortgage [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 3,483 | 4,077 |
Pass [Member] | Mortgage warehouse [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Pass [Member] | Residential Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Pass [Member] | Residential Construction: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Pass [Member] | Indirect auto [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Pass [Member] | Home equity [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 321 | 115 |
Pass [Member] | Consumer and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 688 | 831 |
Special Mention [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 10,074 | 11,411 |
Special Mention [Member] | Commercial : Commercial and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 293 | 319 |
Special Mention [Member] | Commercial: Real estate [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 5,372 | 6,131 |
Special Mention [Member] | Commercial: Five or more family [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 3,559 | 3,673 |
Special Mention [Member] | Commercial: Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Special Mention [Member] | Commercial: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 108 | 755 |
Special Mention [Member] | Mortgage [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 426 | 447 |
Special Mention [Member] | Mortgage warehouse [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Special Mention [Member] | Residential Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Special Mention [Member] | Residential Construction: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Special Mention [Member] | Indirect auto [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Special Mention [Member] | Home equity [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 81 | 86 |
Special Mention [Member] | Consumer and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 235 | 0 |
Substandard [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 10,290 | 12,717 |
Substandard [Member] | Commercial : Commercial and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Commercial: Real estate [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 4,899 | 7,322 |
Substandard [Member] | Commercial: Five or more family [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Commercial: Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Commercial: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 3,403 | 2,986 |
Substandard [Member] | Mortgage [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 1,948 | 2,350 |
Substandard [Member] | Mortgage warehouse [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Residential Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Residential Construction: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Indirect auto [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Substandard [Member] | Home equity [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 40 | 59 |
Substandard [Member] | Consumer and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Commercial : Commercial and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Commercial: Real estate [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Commercial: Five or more family [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Commercial: Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Commercial: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Mortgage [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Mortgage warehouse [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Residential Construction [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Residential Construction: Land [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Indirect auto [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Home equity [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | 0 | 0 |
Doubtful [Member] | Consumer and other [Member] | ' | ' |
Recent analysis performed for risk category of loans | ' | ' |
Recorded investment in loans | $0 | $0 |
Loans_Outstanding_Balance_and_
Loans - Outstanding Balance and Carrying Amount of Purchased Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Outstanding balance and carrying amount of purchased loans | ' | ' |
Outstanding balance | $837 | $882 |
Carrying amount, net of allowance of $0 | 807 | 851 |
Allowance | 0 | 0 |
Commercial : Commercial and other [Member] | ' | ' |
Outstanding balance and carrying amount of purchased loans | ' | ' |
Outstanding balance | 27 | 29 |
Commercial: Real estate [Member] | ' | ' |
Outstanding balance and carrying amount of purchased loans | ' | ' |
Outstanding balance | 682 | 714 |
Mortgage [Member] | ' | ' |
Outstanding balance and carrying amount of purchased loans | ' | ' |
Outstanding balance | $128 | $139 |
Loans_Accretable_Yield_or_Inco
Loans - Accretable Yield, or Income Expected to be Collected on Purchased Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' | ' | ' |
Beginning balance | $100 | $155 | $128 | $193 |
Reclassification from non-accretable yield | 1 | 1 | 2 | 4 |
Accretion of income | -14 | -15 | -43 | -53 |
Disposals | 0 | 0 | 0 | -3 |
Ending balance | $87 | $141 | $87 | $141 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
loan | Contract | loan | loan | Troubled Debt Restructurings [Member] | Troubled Debt Restructurings [Member] | Performing Financing Receivable [Member] | Mortgage Warehouse [Member] | Mortgage Warehouse [Member] | Mortgage Warehouse [Member] | Mortgage Warehouse [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Mortgage [Member] | Mortgage [Member] | Mortgage [Member] | |
Companies | loan | Companies | Contract | loan | loan | Performing Financing Receivable [Member] | loan | loan | Performing Financing Receivable [Member] | ||||||||
Companies | Companies | loan | loan | ||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of mortgage companies | 16 | 12 | 16 | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage warehouse loans, originated | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,737,881,000 | $2,058,136,000 | ' | ' | ' | ' | ' | ' |
Mortgage warehouse loans, sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,766,341,000 | 2,028,768,000 | ' | ' | ' | ' | ' | ' |
Loans, including fees | 3,374,000 | 4,227,000 | 10,492,000 | 12,335,000 | ' | ' | ' | 1,063,000 | 1,441,000 | 3,350,000 | 3,804,000 | ' | ' | ' | ' | ' | ' |
Mortgage warehouse loan fees | ' | ' | ' | ' | ' | ' | ' | 153,000 | 233,000 | 522,000 | 615,000 | ' | ' | ' | ' | ' | ' |
Wire transfer fees | ' | ' | ' | ' | ' | ' | ' | 55,000 | 77,000 | 187,000 | 201,000 | ' | ' | ' | ' | ' | ' |
Outstanding balance of loans modified as TDRs | 1,017,000 | 130,000 | 1,017,000 | 130,000 | 1,302,000 | 842,000 | ' | ' | ' | ' | ' | 974,000 | 974,000 | ' | 43,000 | 43,000 | ' |
Troubled debt restructuring loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 974,000 | ' | ' | 58,000 |
Number of loans considered as performing TDR | 3 | 1 | 3 | 1 | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | 2 | 2 | 1 |
Troubled debt restructurings previously disclosed resulted in charge offs | 0 | 25,000 | 0 | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of troubled debt restructurings defaulted | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' |
Loan payment default | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for loan losses reversed | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Valuation_Methodolo
Fair Value - Valuation Methodology and Unobservable Inputs for Impaired Loans and Other Real Estate Owned (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Collateral based measurements | 'Collateral based measurements |
Fair Value, Average of Inputs | 29.00% | 20.00% |
Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Collateral based measurements | 'Collateral based measurements |
Fair Value, Average of Inputs | 31.00% | 17.00% |
Impaired loans [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Collateral based measurements | 'Collateral based measurements |
Fair Value, Average of Inputs | 12.00% | 11.00% |
Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Appraisals | 'Appraisals |
Fair Value, Range of Inputs | 40.00% | ' |
Fair Value, Average of Inputs | 40.00% | 40.00% |
Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Appraisals | 'Appraisals |
Fair Value, Average of Inputs | 16.00% | 11.00% |
Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Valuation Methodology | 'Appraisals | 'Appraisals |
Fair Value, Average of Inputs | 34.00% | 18.00% |
Minimum [Member] | Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 20.00% | 10.00% |
Minimum [Member] | Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 10.00% | 0.00% |
Minimum [Member] | Impaired loans [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 0.00% | 0.00% |
Minimum [Member] | Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | ' | 40.00% |
Minimum [Member] | Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 16.00% | 6.00% |
Minimum [Member] | Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 26.00% | 7.00% |
Maximum [Member] | Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 35.00% | 30.00% |
Maximum [Member] | Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 55.00% | 40.00% |
Maximum [Member] | Impaired loans [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 25.00% | 20.00% |
Maximum [Member] | Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 17.00% | 17.00% |
Maximum [Member] | Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' |
Fair Value, Range of Inputs | 45.00% | 29.00% |
Fair_Value_Assets_and_Liabilit
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Investment securities available for sale | $167,709 | $125,620 |
Loans held for sale | 408 | 1,155 |
Derivatives - residential mortgage loan commitments | 46 | 79 |
Financial Liabilities | ' | ' |
Derivatives - interest rate swaps | -1,369 | -1,984 |
U.S. federal agency obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 10,530 | 8,405 |
State and municipal [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 51,234 | 45,614 |
Mortgage-backed securities - residential [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 25,700 | 12,385 |
Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 75,843 | 55,156 |
Corporate debt securities [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 4,402 | 4,060 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Derivatives - residential mortgage loan commitments | 0 | 0 |
Financial Liabilities | ' | ' |
Derivatives - interest rate swaps | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U.S. federal agency obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | State and municipal [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed securities - residential [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate debt securities [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 167,709 | 125,620 |
Loans held for sale | 408 | 1,155 |
Derivatives - residential mortgage loan commitments | 46 | 79 |
Financial Liabilities | ' | ' |
Derivatives - interest rate swaps | -1,369 | -1,984 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. federal agency obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 10,530 | 8,405 |
Significant Other Observable Inputs (Level 2) [Member] | State and municipal [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 51,234 | 45,614 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-backed securities - residential [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 25,700 | 12,385 |
Significant Other Observable Inputs (Level 2) [Member] | Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 75,843 | 55,156 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate debt securities [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 4,402 | 4,060 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Derivatives - residential mortgage loan commitments | 0 | 0 |
Financial Liabilities | ' | ' |
Derivatives - interest rate swaps | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | U.S. federal agency obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | State and municipal [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed securities - residential [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Government agency sponsored collateralized mortgage obligations [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Corporate debt securities [Member] | ' | ' |
Financial Assets | ' | ' |
Investment securities available for sale | $0 | $0 |
Fair_Value_Difference_Between_
Fair Value - Difference Between the Aggregate Fair Value and the Aggregate Remaining Contractual Principal Balance Outstanding for Loans Held for Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Loans held for sale | $408 | $1,155 |
Aggregate Fair Value [Member] | ' | ' |
Financial Assets | ' | ' |
Loans held for sale | 408 | 1,155 |
Difference [Member] | ' | ' |
Financial Assets | ' | ' |
Loans held for sale | 8 | 34 |
Contractual Principal [Member] | ' | ' |
Financial Assets | ' | ' |
Loans held for sale | $400 | $1,121 |
Fair_Value_Amount_of_Gains_and
Fair Value - Amount of Gains and Losses from Fair Value Changes (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Amount of gains and losses from fair value changes | ' | ' | ' | ' |
Interest Expense | ($855) | ($1,070) | ($2,579) | ($3,440) |
Loans held for sale [Member] | ' | ' | ' | ' |
Amount of gains and losses from fair value changes | ' | ' | ' | ' |
Other Gains and Losses | -44 | 25 | -26 | 9 |
Interest Income | 4 | 7 | 13 | 30 |
Interest Expense | 0 | 0 | 0 | 0 |
Total Changes in Fair Values Included in Current Period Earnings | ($40) | $32 | ($13) | $39 |
Fair_Value_Assets_Measured_at_
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | $392 | $833 |
Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 2,101 | 2,000 |
Impaired loans [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 882 | 697 |
Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 102 | 102 |
Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 294 | 385 |
Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 215 | 133 |
Mortgage servicing rights [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 197 | 273 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired loans [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage servicing rights [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Impaired loans [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage servicing rights [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 197 | 273 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired loans [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 392 | 833 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired loans [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 2,101 | 2,000 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired loans [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 882 | 697 |
Significant Unobservable Inputs (Level 3) [Member] | Other real estate owned, net [Member] | Commercial: Real estate [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 102 | 102 |
Significant Unobservable Inputs (Level 3) [Member] | Other real estate owned, net [Member] | Commercial: Land [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 294 | 385 |
Significant Unobservable Inputs (Level 3) [Member] | Other real estate owned, net [Member] | Mortgage [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 215 | 133 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage servicing rights [Member] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | ' |
Assets measured at fair value on a non-recurring basis | $0 | $0 |
Fair_Value_Carrying_Amounts_an
Fair Value - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial assets | ' | ' |
Securities available for sale | $167,709 | $125,620 |
Loans held for sale | 408 | 1,155 |
Financial liabilities | ' | ' |
Subordinated debentures | -5,155 | -5,155 |
Derivatives - interest rate swaps | -1,369 | -1,984 |
Carrying Value [Member] | ' | ' |
Financial assets | ' | ' |
Cash and due from financial institutions | 7,344 | 6,857 |
Interest-earning time deposits at other financial institutions | 7,631 | 7,141 |
Securities available for sale | 167,709 | 125,620 |
Federal Home Loan Bank stock | 3,817 | 3,817 |
Loans held for sale | 408 | 1,155 |
Loans, net | 273,609 | 313,692 |
Accrued interest receivable | 1,548 | 1,481 |
Financial liabilities | ' | ' |
Deposits | -335,447 | -348,970 |
Federal Home Loan Bank advances | -69,990 | -49,009 |
Subordinated debentures | -5,155 | -5,155 |
Short-term borrowings | -400 | ' |
Accrued interest payable | -194 | -198 |
Derivatives - interest rate swaps | -1,369 | -1,984 |
Aggregate Fair Value [Member] | ' | ' |
Financial assets | ' | ' |
Loans held for sale | 408 | 1,155 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial assets | ' | ' |
Securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Financial liabilities | ' | ' |
Derivatives - interest rate swaps | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Aggregate Fair Value [Member] | ' | ' |
Financial assets | ' | ' |
Cash and due from financial institutions | 7,344 | 6,857 |
Interest-earning time deposits at other financial institutions | 0 | 0 |
Securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 2 |
Financial liabilities | ' | ' |
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated debentures | 0 | 0 |
Short-term borrowings | 0 | ' |
Accrued interest payable | 0 | 0 |
Derivatives - interest rate swaps | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial assets | ' | ' |
Securities available for sale | 167,709 | 125,620 |
Loans held for sale | 408 | 1,155 |
Financial liabilities | ' | ' |
Derivatives - interest rate swaps | -1,369 | -1,984 |
Significant Other Observable Inputs (Level 2) [Member] | Aggregate Fair Value [Member] | ' | ' |
Financial assets | ' | ' |
Cash and due from financial institutions | 0 | 0 |
Interest-earning time deposits at other financial institutions | 7,658 | 7,197 |
Securities available for sale | 167,709 | 125,620 |
Loans held for sale | 408 | 1,155 |
Loans, net | 0 | 0 |
Accrued interest receivable | 951 | 802 |
Financial liabilities | ' | ' |
Deposits | -323,432 | -347,348 |
Federal Home Loan Bank advances | -71,448 | -51,059 |
Subordinated debentures | 0 | 0 |
Short-term borrowings | -400 | ' |
Accrued interest payable | -188 | -196 |
Derivatives - interest rate swaps | -1,369 | -1,984 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial assets | ' | ' |
Securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Financial liabilities | ' | ' |
Derivatives - interest rate swaps | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Aggregate Fair Value [Member] | ' | ' |
Financial assets | ' | ' |
Cash and due from financial institutions | 0 | 0 |
Interest-earning time deposits at other financial institutions | 0 | 0 |
Securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 277,145 | 318,534 |
Accrued interest receivable | 597 | 677 |
Financial liabilities | ' | ' |
Deposits | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Subordinated debentures | -5,148 | -5,188 |
Short-term borrowings | 0 | ' |
Accrued interest payable | -6 | -2 |
Derivatives - interest rate swaps | $0 | $0 |
Fair_Value_Additional_Informat
Fair Value - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' | ' | ' | ' |
Loan held for sale outstanding balance | $400 | $1,865 | $400 | $1,865 | ' |
Unrealized gain on loans held for sale | 8 | 52 | 8 | 52 | ' |
Change of unrealized gains on loans held for sale | -44 | 25 | -26 | 9 | ' |
Impaired loans, collateral dependent | 5,083 | 4,443 | 5,083 | 4,443 | ' |
Valuation allowance, impaired loans | 1,708 | 1,372 | 1,708 | 1,372 | ' |
Additional provision for loan losses impaired loan | 138 | 201 | 511 | 1,281 | ' |
Other real estate owned, carrying value | 611 | 795 | 611 | 795 | ' |
Outstanding balance | 967 | 1,069 | 967 | 1,069 | ' |
Write-down amount, other real estate owned | 10 | 88 | 119 | 288 | ' |
Valuation allowance | 356 | 275 | 356 | 275 | ' |
Carrying amount, mortgage servicing rights | 197 | 218 | 197 | 218 | ' |
Loans held for sale [Member] | ' | ' | ' | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' | ' | ' | ' |
Loan held for sale carrying amount | 408 | 1,917 | 408 | 1,917 | ' |
Mortgage servicing rights [Member] | ' | ' | ' | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' | ' | ' | ' |
Discount rate | ' | ' | 10.00% | ' | 10.00% |
Default rate approximately | ' | ' | 0.50% | ' | 0.50% |
Outstanding balance | 308 | 377 | 308 | 377 | ' |
Valuation allowance | 111 | 159 | 111 | 159 | ' |
Charge on mortgage servicing rights | ($11) | $31 | ($47) | $40 | ' |
Minimum [Member] | Mortgage servicing rights [Member] | ' | ' | ' | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' | ' | ' | ' |
Prepayment rate | ' | ' | 7.50% | ' | 14.90% |
Maximum [Member] | Mortgage servicing rights [Member] | ' | ' | ' | ' | ' |
Valuation methodology and unobservable inputs for impaired loans and other real estate owned | ' | ' | ' | ' | ' |
Prepayment rate | ' | ' | 21.90% | ' | 30.30% |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Security Collateral Held in Safekeeping by Bank of New York [Member] | Security Collateral Held in Safekeeping by Bank of New York [Member] | Interest Rate Swaps Designated as Cash Flow Hedges [Member] | Interest Rate Swaps Designated as Cash Flow Hedges [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount | ' | ' | ' | ' | ' | ' | $30,250 | $30,250 |
Interest expense | 212 | 149 | 623 | 442 | ' | ' | ' | ' |
Collateralized the liability with cash and security | ' | ' | ' | ' | 220 | 220 | ' | ' |
Cash and securities fair value | ' | ' | ' | ' | $2,241 | $2,586 | ' | ' |
Derivatives_InterestRate_Swaps
Derivatives - Interest-Rate Swaps Designated as Cash Flow Hedges (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 |
Subordinated debentures [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Notional amount | $5,000 | $5,000 |
Fixed interest rate payable | 5.54% | 5.54% |
Unrealized losses | -131 | -53 |
Maturity date | 26-Mar-14 | ' |
CDARS deposits [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Notional amount | 10,250 | 10,250 |
Fixed interest rate payable | 3.19% | 3.19% |
Unrealized losses | -428 | -252 |
Maturity date | 9-Oct-14 | ' |
FHLB advance (Sep 20, 2015) [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Notional amount | 5,000 | 5,000 |
Fixed interest rate payable | 3.54% | 3.54% |
Unrealized losses | -395 | -286 |
Maturity date | 20-Sep-15 | ' |
FHLB advance (Jul 19, 2016) [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Notional amount | 10,000 | 10,000 |
Fixed interest rate payable | 3.69% | 3.69% |
Unrealized losses | ($1,030) | ($778) |
Maturity date | 19-Jul-16 | ' |
Three month LIBOR plus 3.10% [Member] | Subordinated debentures [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Variable interest rate receivable | 3.41% | 3.35% |
One month LIBOR plus 0.55% [Member] | CDARS deposits [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Variable interest rate receivable | 0.76% | 0.73% |
Three month LIBOR plus 0.22% [Member] | FHLB advance (Sep 20, 2015) [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Variable interest rate receivable | 0.53% | 0.47% |
Three month LIBOR plus 0.25% [Member] | FHLB advance (Jul 19, 2016) [Member] | ' | ' |
Interest-rate swaps designated as cash flow hedges | ' | ' |
Variable interest rate receivable | 0.57% | 0.52% |
Derivatives_Net_Losses_Recorde
Derivatives - Net Losses Recorded in Accumulated Other Comprehensive Income (Loss) and Income Relating to the Cash Flow Derivative (Detail) (Interest rate contracts [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest rate contracts [Member] | ' | ' | ' | ' |
Net losses recorded in accumulated other comprehensive income (loss) and income relating to the cash flow derivative | ' | ' | ' | ' |
Net amount of gain (loss) recognized in OCI (Effective Portion) | $88 | $8 | $405 | $44 |
Net amount of gain (loss) reclassified from OCI to interest income | 0 | 0 | 0 | 0 |
Net amount of gain (loss) recognized in other non interest income (Ineffective Portion) | $0 | $0 | $0 | $0 |
Derivatives_Cash_Flow_Hedges_I
Derivatives - Cash Flow Hedges Included in Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Included in other liabilities: | ' | ' |
Fair Value | ($1,369) | ($1,984) |
Interest Rate Swaps Designated as Cash Flow Hedges [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -30,250 | -30,250 |
Fair Value | -1,369 | -1,984 |
Subordinated debentures [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -5,000 | -5,000 |
Subordinated debentures [Member] | Interest Rate Swaps Designated as Cash Flow Hedges [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -5,000 | -5,000 |
Fair Value | -53 | -131 |
CDARS deposits [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -10,250 | -10,250 |
CDARS deposits [Member] | Interest Rate Swaps Designated as Cash Flow Hedges [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -10,250 | -10,250 |
Fair Value | -252 | -428 |
FHLB advances [Member] | Interest Rate Swaps Designated as Cash Flow Hedges [Member] | ' | ' |
Included in other liabilities: | ' | ' |
Notional Amount | -15,000 | -15,000 |
Fair Value | ($1,064) | ($1,425) |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options granted (in shares) | 8,000 | 0 | 8,000 | 0 | ' |
Risk-free interest rate | ' | ' | 2.32% | ' | ' |
Expected term | ' | ' | '7 years 6 months | ' | ' |
Expected stock price volatility | ' | ' | 19.24% | ' | ' |
Dividend yield | ' | ' | 1.57% | ' | ' |
Exercise of stock options (in shares) | ' | ' | 8,944 | 0 | ' |
Shares vested during the period | ' | ' | 23,382 | 23,382 | ' |
Restricted Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Total fair value of shares vested during the year | ' | ' | $489,000 | $192,000 | ' |
Equity Incentive Plan [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares issued to employees and directors | ' | ' | ' | ' | 417,543 |
Total compensation cost charged against income | 61,000 | 61,000 | 181,000 | 183,000 | ' |
Equity Incentive Plan [Member] | Unearned ESOP Shares [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares issued to employees and directors | 298,246 | ' | 298,246 | ' | ' |
Option awards, vesting periods | ' | ' | '5 years | ' | ' |
Option awards, contractual terms | ' | ' | '10 years | ' | ' |
Option awards, annual percentage, vesting | ' | ' | 20.00% | ' | ' |
Exercise of stock options (in shares) | 8,944 | 0 | 8,944 | 0 | ' |
Intrinsic value of options exercised | 35,000 | ' | 35,000 | ' | ' |
Cash received from exercise of stock options | 58,000 | ' | 58,000 | ' | ' |
Tax benefits realized from exercise of stock options | 20,000 | ' | 20,000 | ' | ' |
Weighted average fair value of options granted (in usd per share) | $2.16 | ' | $2.16 | ' | ' |
Unrecognized compensation cost related to nonvested stock options granted under the Plan | 287,000 | ' | 287,000 | ' | ' |
Cost recognized over a weighted-average period, expected | ' | ' | '3 years 1 month | ' | ' |
Equity Incentive Plan [Member] | Restricted Stock [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Shares issued to employees and directors | 119,298 | ' | 119,298 | ' | ' |
Option awards, vesting periods | ' | ' | '5 years | ' | ' |
Option awards, annual percentage, vesting | ' | ' | 20.00% | ' | ' |
Shares available for future grants | 2,388 | ' | 2,388 | ' | ' |
Unrecognized compensation cost related to nonvested stock options granted under the Plan | $466,000 | ' | $466,000 | ' | ' |
Cost recognized over a weighted-average period, expected | ' | ' | '3 years 1 month | ' | ' |
Shares vested during the period | 46,764 | 23,382 | 46,764 | 23,382 | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Activity in the Stock Option Plan (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Options, Outstanding Shares [Rollforward] | ' | ' | ' | ' | ' | ' |
Outstanding, Shares, beginning balance | ' | ' | 281,829 | 281,829 | 281,829 | ' |
Granted, Shares | 8,000 | 0 | 8,000 | 0 | ' | ' |
Exercised, Shares | ' | ' | -8,944 | 0 | ' | ' |
Forfeited or expired, Shares | ' | ' | 2,982 | 0 | ' | ' |
Outstanding, Shares, ending balance | 277,903 | 281,829 | 277,903 | 281,829 | 281,829 | 281,829 |
Fully vested and expected to vest, Shares | 277,903 | 281,829 | 277,903 | 281,829 | ' | ' |
Exercisable at end of period, Shares | 100,806 | 56,366 | 100,806 | 56,366 | ' | ' |
Options, Weighted Average Exercise Price [Abstract] | ' | ' | ' | ' | ' | ' |
Outstanding, Weighted Average Exercise Price, beginning balance (in usd per share) | ' | ' | $6.44 | $6.44 | $6.44 | ' |
Granted, Weighted Average Exercise Price (in usd per share) | ' | ' | $10.19 | $0 | ' | ' |
Exercised, Weighted Average Exercise Price (in usd per share) | ' | ' | $6.44 | $0 | ' | ' |
Forfeited or expired, Weighted Average Exercise Price (in usd per share) | ' | ' | $6.44 | $0 | ' | ' |
Outstanding, Weighted Average Exercise Price, ending balance (in usd per share) | $6.55 | $6.44 | $6.55 | $6.44 | $6.44 | $6.44 |
Fully vested and expected to vest, Weighted Average Exercise Price (in usd per share) | $6.55 | $6.44 | $6.55 | $6.44 | ' | ' |
Exercisable at end of period, Weighted Average Exercise Price (in usd per share) | $6.44 | $6.44 | $6.44 | $6.44 | ' | ' |
Options, Additional Disclosures [Abstract] | ' | ' | ' | ' | ' | ' |
Outstanding, Weighted Average Remaining Contractual Term, beginning balance | ' | ' | '8 years 1 month | '9 years | '8 years 8 months 12 days | '9 years 8 months 12 days |
Granted, Weighted Average Remaining Contractual Term | ' | ' | '10 years | ' | ' | ' |
Outstanding, Weighted Average Remaining Contractual Term, ending balance | ' | ' | '8 years 1 month | '9 years | '8 years 8 months 12 days | '9 years 8 months 12 days |
Fully vested and expected to vest, Weighted Average Remaining Contractual Term | ' | ' | '8 years 1 month | '9 years | ' | ' |
Exercisable at end of period, Weighted Average Remaining Contractual Term | ' | ' | '8 years | '9 years | ' | ' |
Outstanding, Aggregate Intrinsic Value, beginning balance | ' | ' | $659 | $0 | $0 | ' |
Outstanding, Aggregate Intrinsic Value, ending balance | 1,087 | 0 | 1,087 | 0 | 659 | 0 |
Fully vested and expected to vest, Aggregate Intrinsic Value | 1,087 | 0 | 1,087 | 0 | ' | ' |
Exercisable at end of period, Aggregate Intrinsic Value | $405 | ' | $405 | ' | ' | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Changes in the Company's Nonvested Shares (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Nonvested Shares [Rollforward] | ' | ' |
Nonvested, Shares, beginning balance | 93,528 | 116,910 |
Granted, Shares | 2,000 | 0 |
Vested, Shares | -23,382 | -23,382 |
Forfeited, Shares | 0 | 0 |
Nonvested, Shares, ending balance | 72,146 | 93,528 |
Nonvested Shares, Weighted-Average Grant-Date Fair Value [Abstract] | ' | ' |
Nonvested, Weighted-Average Grant-Date Fair Value, beginning balance | $6.44 | $6.44 |
Granted, Weighted-Average Grant-Date Fair Value | $10.19 | $0 |
Vested, Weighted-Average Grant-Date Fair Value | $6.44 | $6.44 |
Forfeited, Weighted-Average Grant-Date Fair Value | $0 | $0 |
Nonvested, Weighted-Average Grant-Date Fair Value, ending balance | $6.55 | $6.44 |
Recovered_Sheet3
Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | ' |
Gains (Losses) on Cash Flow Hedges Beginning balance | ($992) | ' | ($1,309) | ' |
Gains (Losses) on Cash Flow Hedges, Other comprehensive income (loss) before reclassification | 88 | ' | 405 | ' |
Gains (Losses) on Cash Flow Hedges, Amounts reclassified from accumulated other comprehensive income (loss) | 0 | ' | 0 | ' |
Net of tax | 88 | 8 | 405 | 44 |
Gains (Losses) on Cash Flow Hedges, Ending balance | -904 | ' | -904 | ' |
Unrealized Gains (Losses) on Available- for-Sale Securities Beginning balance | 185 | ' | 3,673 | ' |
Unrealized Gains (Losses) on Available- for-Sale Securities, Other comprehensive income (loss) before reclassification | -302 | ' | -3,466 | ' |
Unrealized Gains (Losses) on Available- for-Sale Securities, Amounts reclassified from accumulated other comprehensive income (loss) | -36 | ' | -360 | ' |
Net of tax | -338 | 335 | -3,826 | 537 |
Unrealized Gains (Losses) on Available- for-Sale Securities, Ending balance | -153 | ' | -153 | ' |
Total Beginning balance | -807 | ' | 2,364 | ' |
Total, Other comprehensive income (loss) before reclassification | -214 | ' | -3,061 | ' |
Total, Amounts reclassified from accumulated other comprehensive income (loss) | -36 | ' | -360 | ' |
Total other comprehensive income (loss) | -250 | 343 | -3,421 | 581 |
Total, Ending balance | ($1,057) | ' | ($1,057) | ' |
Recovered_Sheet4
Accumulated Other Comprehensive Income - Summary of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule of Reclassification Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income | ($456) | $678 | ($5,252) | $1,182 |
Amount reclassified from accumulated other comprehensive income, Net of tax | 36 | ' | 360 | ' |
Net gains on securities [Member] | ' | ' | ' | ' |
Schedule of Reclassification Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income | 55 | ' | 545 | ' |
Total before tax [Member] | ' | ' | ' | ' |
Schedule of Reclassification Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income, before tax | 55 | ' | 545 | ' |
Income tax (expense) benefit [Member] | ' | ' | ' | ' |
Schedule of Reclassification Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income, tax (expense) benefit | -19 | ' | -185 | ' |
Net of tax [Member] | ' | ' | ' | ' |
Schedule of Reclassification Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from accumulated other comprehensive income, Net of tax | $36 | ' | $360 | ' |
Recovered_Sheet5
Offsetting Financial Assets and Liabilities - Summary of Offsetting Financial Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Offsetting Financial Assets And Liabilities [Abstract] | ' | ' |
Gross Amounts of Recognized Liabilities, Derivatives | $1,369 | $1,984 |
Gross Amounts Offset in the Consolidated Balance Sheet, Derivatives | 0 | 0 |
Net Amounts Liabilities Presented in the Consolidated Balance Sheet, Derivatives | 1,369 | 1,984 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments, Derivatives | -2,241 | -2,586 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Pledged, Derivatives | -220 | -220 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Net Amount, Derivatives | -1,092 | -822 |
Gross Amounts of Recognized Liabilities, Repurchase agreements | 362 | 517 |
Gross Amounts Offset in the Consolidated Balance Sheet, Repurchase Agreement | 0 | 0 |
Net Amounts Liabilities Presented in the Consolidated Balance Sheet, Repurchase Agreement | 362 | 517 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments, Repurchase Agreement | -362 | -517 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Pledged, Repurchase Agreement | 0 | 0 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Net Amount, Repurchase Agreement | 0 | 0 |
Gross Amounts of Recognized Liabilities | 1,731 | 2,501 |
Gross Amounts Offset in the Consolidated Balance Sheet | 0 | 0 |
Net Amounts Liabilities Presented in the Consolidated Balance Sheet | 1,731 | 2,501 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Financial Instruments | -2,603 | -3,103 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Cash Collateral Pledged | -220 | -220 |
Gross Amounts Not Offset in the Consolidated Balance Sheet, Net Amount | ($1,092) | ($822) |