Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Aug. 12, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'Prime Meridian Holding Co | ' |
Entity Central Index Key | '0001586454 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 1,785,511 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $5,101 | $5,033 |
Federal funds sold | 0 | 147 |
Interest-bearing deposits | 17,889 | 28,986 |
Total cash and cash equivalents | 22,990 | 34,166 |
Securities available for sale | 43,099 | 44,071 |
Loans held for sale | 2,002 | 150 |
Loans, net of allowance for loan losses of $2,345 and $1,734 | 131,537 | 121,220 |
Federal Home Loan Bank stock | 186 | 204 |
Premises and equipment, net | 3,678 | 3,757 |
Deferred tax asset | 271 | 426 |
Accrued interest receivable | 570 | 516 |
Bank-owned life insurance | 1,588 | 1,562 |
Capitalized offering costs | 0 | 218 |
Other assets | 356 | 183 |
Total assets | 206,277 | 206,473 |
Liabilities: | ' | ' |
Noninterest-bearing demand deposits | 48,447 | 59,011 |
Savings, NOW and money-market deposits | 119,522 | 109,760 |
Time deposits | 13,871 | 14,594 |
Total deposits | 181,840 | 183,365 |
Other borrowings | 2,741 | 5,719 |
Official checks | 1,003 | 636 |
Other liabilities | 467 | 392 |
Total liabilities | 186,051 | 190,112 |
Stockholders' equity: | ' | ' |
Preferred stock, undesignated; 1,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $.01 par value; 9,000,000 shares authorized, 1,785,511 and 1,498,937 issued and outstanding | 18 | 15 |
Additional paid-in capital | 18,223 | 14,929 |
Retained earnings | 1,897 | 1,732 |
Accumulated other comprehensive income (loss) | 88 | -315 |
Total stockholders' equity | 20,226 | 16,361 |
Total liabilities and stockholders' equity | $206,277 | $206,473 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Loans receivable, allowance for loan losses | $2,345 | $1,734 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 9,000,000 | 9,000,000 |
Common stock, shares issued | 1,785,511 | 1,498,937 |
Common stock, shares outstanding | 1,785,511 | 1,498,937 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Loans | $1,693 | $1,535 | $3,335 | $2,897 |
Securities | 230 | 204 | 450 | 415 |
Other | 17 | 9 | 42 | 22 |
Total interest income | 1,940 | 1,748 | 3,827 | 3,334 |
Interest expense: | ' | ' | ' | ' |
Deposits | 156 | 161 | 314 | 340 |
Other borrowings | 8 | 14 | 22 | 29 |
Total interest expense | 164 | 175 | 336 | 369 |
Net interest income | 1,776 | 1,573 | 3,491 | 2,965 |
Provision for loan losses | 562 | 138 | 591 | 323 |
Net interest income after provision for loan losses | 1,214 | 1,435 | 2,900 | 2,642 |
Noninterest income: | ' | ' | ' | ' |
Service charges and fees on deposit accounts | 34 | 19 | 75 | 45 |
Gain on sale of loans | 82 | 16 | 110 | 246 |
Income from bank-owned life insurance | 10 | 16 | 26 | 28 |
Other income | 46 | 150 | 93 | 239 |
Total noninterest income | 172 | 201 | 304 | 558 |
Noninterest expenses: | ' | ' | ' | ' |
Salaries and employee benefits | 813 | 668 | 1,625 | 1,270 |
Occupancy and equipment | 218 | 185 | 421 | 370 |
Professional fees | 175 | 44 | 261 | 88 |
Other | 347 | 321 | 677 | 601 |
Total noninterest expenses | 1,553 | 1,218 | 2,984 | 2,329 |
(Loss) earnings before income taxes | -167 | 418 | 220 | 871 |
Income taxes (benefit) | -76 | 148 | 55 | 308 |
Net (loss) earnings | ($91) | $270 | $165 | $563 |
Basic earnings per share | ($0.05) | $0.18 | $0.10 | $0.38 |
Diluted earnings per share | ($0.05) | $0.18 | $0.10 | $0.37 |
Cash dividends per common share | $0 | $0 | $0 | $0 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net (loss) earnings | ($91) | $270 | $165 | $563 |
Change in unrealized gain on securities: | ' | ' | ' | ' |
Unrealized (loss) gain arising during the period | 397 | -1,119 | 641 | -1,203 |
Reclassification adjustment for realized gains | 0 | 0 | 0 | 0 |
Net change in unrealized (loss) gain | 397 | -1,119 | 641 | -1,203 |
Deferred income taxes (benefit) on above change | 147 | -414 | 238 | -447 |
Total other comprehensive income (loss) | 250 | -705 | 403 | -756 |
Comprehensive income (loss) | $159 | ($435) | $568 | ($193) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] |
In Thousands, except Share data | |||||
Beginning Balance, Value at Dec. 31, 2012 | $16,039 | $15 | $14,896 | $583 | $545 |
Beginning Balance, Shares at Dec. 31, 2012 | ' | 1,496,106 | ' | ' | ' |
Net earnings (unaudited) | 563 | 0 | 0 | 563 | 0 |
Net change in unrealized gain (loss) on securities available for sale (unaudited) | -756 | 0 | 0 | 0 | -756 |
Common stock issued as compensation to directors (unaudited), Value | 14 | 0 | 14 | 0 | 0 |
Common stock issued as compensation to directors (unaudited), Shares | ' | 1,388 | ' | ' | ' |
Stock-based compensation (unaudited) | 1 | 0 | 1 | 0 | 0 |
Ending Balance (unaudited), Value at Jun. 30, 2013 | 15,861 | 15 | 14,911 | 1,146 | -211 |
Ending Balance (unaudited), Shares at Jun. 30, 2013 | ' | 1,497,494 | ' | ' | ' |
Beginning Balance, Value at Dec. 31, 2013 | 16,361 | 15 | 14,929 | 1,732 | -315 |
Beginning Balance, Shares at Dec. 31, 2013 | 1,498,937 | 1,498,937 | ' | ' | ' |
Net earnings (unaudited) | 165 | 0 | 0 | 165 | 0 |
Net change in unrealized gain (loss) on securities available for sale (unaudited) | 403 | 0 | 0 | 0 | 403 |
Proceeds from sale of common stock, net of $287 in offering costs (unaudited), Value | 3,284 | 3 | 3,281 | 0 | 0 |
Proceeds from sale of common stock, net of $287 in offering costs (unaudited), Shares | 285,432 | 285,432 | ' | ' | ' |
Common stock issued as compensation to directors (unaudited), Value | 13 | 0 | 13 | 0 | 0 |
Common stock issued as compensation to directors (unaudited), Shares | ' | 1,142 | ' | ' | ' |
Stock-based compensation (unaudited) | 0 | 0 | 0 | 0 | 0 |
Ending Balance (unaudited), Value at Jun. 30, 2014 | $20,226 | $18 | $18,223 | $1,897 | $88 |
Ending Balance (unaudited), Shares at Jun. 30, 2014 | 1,785,511 | 1,785,511 | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Offering Cost | $287 |
Common Stock [Member] | ' |
Offering Cost | 287 |
Additional Paid-In Capital [Member] | ' |
Offering Cost | $287 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net earnings | $165 | $563 |
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities: | ' | ' |
Depreciation and amortization | 194 | 168 |
Provision for loan losses | 591 | 323 |
Net amortization of deferred loan fees | -20 | -40 |
Deferred income taxes | -83 | -143 |
Amortization of premiums, discounts on securities available for sale | 231 | 227 |
Gain on sale of loans held for sale | -110 | -246 |
Proceeds from the sale of loans held for sale | 1,962 | 2,114 |
Loan originated as held for sale | -3,704 | -1,868 |
Stock issued as compensation | 13 | 14 |
Stock-based compensation expense | 0 | 1 |
Income from bank-owned life insurance | -26 | -28 |
Net increase in accrued interest receivable | -54 | -53 |
Net decrease in other assets and capitalized offering costs | 45 | 269 |
Net increase (decrease) in other liabilities and official checks | 442 | -61 |
Net cash (used in) provided by operating activities | -354 | 1,240 |
Cash flows from investing activities: | ' | ' |
Loan originations, net of principal repayments | -10,888 | -21,085 |
Purchase of securities available for sale | -3,720 | -3,723 |
Principal repayments of securities available for sale | 4,102 | 4,313 |
Maturities and calls of securities available for sale | 1,000 | ' |
Redemption of Federal Home Loan Bank stock | 18 | 6 |
Purchase of premises and equipment | -115 | -94 |
Net cash used in investing activities | -9,603 | -20,583 |
Cash flows from financing activities: | ' | ' |
Net (decrease) increase in deposits | -1,525 | 15,015 |
(Decrease) increase in other borrowings | -2,978 | 29 |
Net Proceeds from sale of common stock | 3,284 | 0 |
Net cash (used in) provided by financing activities | -1,219 | 15,044 |
Net decrease in cash and cash equivalents | -11,176 | -4,299 |
Cash and cash equivalents at beginning of period | 34,166 | 26,498 |
Cash and cash equivalents at end of period | 22,990 | 22,199 |
Supplemental disclosure of cash flow information | ' | ' |
Cash paid during the period for interest | 336 | 373 |
Cash paid during the period for income taxes | 235 | 156 |
Noncash transaction- | ' | ' |
Accumulated other comprehensive (loss) income, net change in unrealized (loss) gain on sale of securities available for sale, net of taxes | $403 | ($756) |
General
General | 6 Months Ended | |
Jun. 30, 2014 | ||
Accounting Policies [Abstract] | ' | |
General | ' | |
-1 | General | |
Prime Meridian Holding Company (the “Holding Company”) owns 100% of the outstanding common stock of Prime Meridian Bank (the “Bank”) (collectively the “Company”). The Holding Company’s primary activity is the operation of the Bank. The Bank is a state (Florida)-chartered commercial bank. The deposit accounts of the Bank are insured up to the applicable limits by the Federal Deposit Insurance Corporation (“FDIC”). The Bank offers a variety of community banking services to individual and corporate customers through its banking offices located in Tallahassee, Florida. | ||
In the opinion of management, the accompanying condensed consolidated financial statements of the Company contain all adjustments (consisting principally of normal recurring accruals) necessary to present fairly the financial position at June 30, 2014, and the results of operations for the three and six month periods ended June 30, 2014 and 2013. The results of operations for the three and six months ended June 30, 2014, are not necessarily indicative of the results to be expected for the full year. | ||
Comprehensive Income (Loss). Accounting principles generally accepted in the United States of America (“GAAP”) generally require that recognized revenue, expenses, gains and losses be included in operations. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the consolidated balance sheet, such items along with net (loss) earnings, are components of comprehensive income. The only component of other comprehensive income (loss) is the net change in the unrealized gains (loss) on the securities available for sale. | ||
Share-Based Compensation. The Company expenses the fair value of any stock options granted. The Company recognizes share-based compensation in the statements of earnings as the options vest. | ||
Recent Accounting Standards Update. In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which is intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. These amendments clarify that an insubstance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures are required. The amendments are effective beginning January 1, 2015. | ||
Recent Accounting Standards Update, Continued. In June 2014, FASB issued ASU 2014-11, Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. ASU 2014-11 requires, among other things, two accounting changes. First, the amendments in this update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. ASU 2014-11 is effective for the first interim or annual period beginning after December 15, 2014. The adoption of this guidance is not expected to have any impact on the Company’s consolidated financial statements. | ||
In June 2014, FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires, among other things, that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have any impact on the Company’s consolidated financial statements. | ||
Recent Regulatory Developments | ||
Basel III Rules. On July 2, 2013, the Federal Reserve Board (“FRB”) approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks. Under the final rules, minimum requirements will increase for both the quantity and quality of capital held by the Bank. The rules include a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The final rules also raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0% and require a minimum leverage ratio of 4.0%. The final rules also implement strict eligibility criteria for regulatory capital instruments. On July 9, 2013, the FDIC also approved, as an interim final rule, the regulatory capital requirements for U.S. banks, following the actions of the FRB. The FDIC’s rule is identical in substance to the final rules issued by the FRB. | ||
The phase-in period for the final rules will begin for the Bank on January 1, 2015, with full compliance with all of the final rule’s requirements phased in over a multi-year schedule. The Bank is currently evaluating the provisions of the final rules and their expected impact on the Bank. |
Securities_Available_for_Sale
Securities Available for Sale | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Securities Available for Sale | ' | ||||||||||||||||
-2 | Securities Available for Sale | ||||||||||||||||
Securities are classified according to management’s intent. The carrying amount of securities and approximate fair values are as follows (in thousands): | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||
Gains | Losses | ||||||||||||||||
At June 30, 2014: | |||||||||||||||||
U.S. Government agency securities | $ | 7,165 | 17 | (151 | ) | 7,031 | |||||||||||
Municipal securities | 9,685 | 87 | (87 | ) | 9,685 | ||||||||||||
Mortgage-backed securities | 24,183 | 332 | (67 | ) | 24,448 | ||||||||||||
Asset-backed securities | 1,924 | 11 | 0 | 1,935 | |||||||||||||
$ | 42,957 | 447 | (305 | ) | 43,099 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
U.S. Government agency securities | 7,290 | 8 | (329 | ) | 6,969 | ||||||||||||
Municipal securities | 9,139 | 14 | (269 | ) | 8,884 | ||||||||||||
Mortgage-backed securities | 26,225 | 253 | (198 | ) | 26,280 | ||||||||||||
Asset-backed securities | 1,916 | 22 | 0 | 1,938 | |||||||||||||
$ | 44,570 | 297 | (796 | ) | 44,071 | ||||||||||||
Securities with gross unrealized losses at June 30, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows (in thousands): | |||||||||||||||||
Less Than Twelve Months | Over Twelve Months | ||||||||||||||||
Gross | Fair | Gross | Fair | ||||||||||||||
Unrealized | Value | Unrealized | Value | ||||||||||||||
Losses | Losses | ||||||||||||||||
Securities Available for Sale: | |||||||||||||||||
U.S. Government agency securities | $ | 0 | 0 | 151 | 6,057 | ||||||||||||
Municipal securities | 0 | 0 | 87 | 3,726 | |||||||||||||
Mortgage-backed securities | 11 | 7,351 | 56 | 1,938 | |||||||||||||
$ | 11 | 7,351 | 294 | 11,721 | |||||||||||||
The unrealized losses at June 30, 2014 on twenty-one securities were caused by market conditions. It is expected that the securities would not be settled at a price less than the par value of the investments. Because the decline in fair value is attributable to market conditions and not credit quality, and because the Company has the ability and intent to hold these investments until a market price recovery or maturity, these investments are not considered other-than-temporarily impaired. | |||||||||||||||||
Securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Fair | Quoted Prices | Significant | Significant | ||||||||||||||
Value | In Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
At June 30, 2014: | |||||||||||||||||
U.S. Government agency securities | $ | 7,031 | 0 | 7,031 | 0 | ||||||||||||
Municipal securities | 9,685 | 0 | 9,685 | 0 | |||||||||||||
Mortgage-backed securities | 24,448 | 0 | 24,448 | 0 | |||||||||||||
Asset-backed securities | 1,935 | 0 | 1,935 | 0 | |||||||||||||
$ | 43,099 | 0 | 43,099 | 0 | |||||||||||||
At December 31, 2013: | |||||||||||||||||
U.S. Government agency securities | 6,969 | 0 | 6,969 | 0 | |||||||||||||
Municipal securities | 8,884 | 0 | 8,884 | 0 | |||||||||||||
Mortgage-backed securities | 26,280 | 0 | 26,280 | 0 | |||||||||||||
Asset-backed securities | 1,938 | 0 | 1,938 | 0 | |||||||||||||
$ | 44,071 | 0 | 44,071 | 0 | |||||||||||||
During the six months ended June 30, 2014 and the year ended December 31, 2013, no securities were transferred in or out of Level 1, Level 2 or Level 3. | |||||||||||||||||
The scheduled maturities of securities are as follows (in thousands): | |||||||||||||||||
Amortized | Fair | ||||||||||||||||
Cost | Value | ||||||||||||||||
At June 30, 2014: | |||||||||||||||||
Due in one to five years | $ | 2,840 | 2,863 | ||||||||||||||
Due five to ten years | 5,860 | 5,747 | |||||||||||||||
Due after ten years | 8,150 | 8,106 | |||||||||||||||
Mortgage-backed securities | 24,183 | 24,448 | |||||||||||||||
Asset-backed securities | 1,924 | 1,935 | |||||||||||||||
$ | 42,957 | 43,099 |
Loans
Loans | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||
-3 | Loans | ||||||||||||||||||||||||||||||||
The segments of loans are as follows (in thousands): | |||||||||||||||||||||||||||||||||
At June 30, | At December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 48,311 | 44,796 | ||||||||||||||||||||||||||||||
Residential and home equity | 43,595 | 38,571 | |||||||||||||||||||||||||||||||
Construction | 14,304 | 12,933 | |||||||||||||||||||||||||||||||
Total real estate mortgage loans | 106,210 | 96,300 | |||||||||||||||||||||||||||||||
Commercial loans | 25,759 | 24,651 | |||||||||||||||||||||||||||||||
Consumer and other loans | 1,962 | 2,072 | |||||||||||||||||||||||||||||||
Total loans | 133,931 | 123,023 | |||||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||||||
Net deferred loan fees | (49 | ) | (69 | ) | |||||||||||||||||||||||||||||
Allowance for loan losses | (2,345 | ) | (1,734 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 131,537 | 121,220 | ||||||||||||||||||||||||||||||
An analysis of the change in the allowance for loan losses follows (in thousands): | |||||||||||||||||||||||||||||||||
Real Estate Mortgage Loans | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||
Loans | and | ||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Commercial | Residential | Construction | Loans | ||||||||||||||||||||||||||||||
and Home | |||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Three-Month Period Ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 617 | 575 | 160 | 401 | 22 | 1,775 | ||||||||||||||||||||||||||
Provision (credit) for loan losses | 432 | (52 | ) | 114 | 69 | (1 | ) | 562 | |||||||||||||||||||||||||
Net recoveries | 0 | 0 | 0 | 8 | 0 | 8 | |||||||||||||||||||||||||||
Ending balance | $ | 1,049 | 523 | 274 | 478 | 21 | 2,345 | ||||||||||||||||||||||||||
Six-Month Period Ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Beginning balance | 604 | 545 | 175 | 387 | 23 | 1,734 | |||||||||||||||||||||||||||
Provision (credit) for loan losses | 445 | (22 | ) | 99 | 71 | (2 | ) | 591 | |||||||||||||||||||||||||
Net recoveries | 0 | 0 | 0 | 20 | 0 | 20 | |||||||||||||||||||||||||||
Ending balance | $ | 1,049 | 523 | 274 | 478 | 21 | 2,345 | ||||||||||||||||||||||||||
Three-Month Period Ended June 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 527 | 477 | 119 | 297 | 16 | 1,436 | ||||||||||||||||||||||||||
Provision for loan losses | 22 | 6 | 91 | 6 | 13 | 138 | |||||||||||||||||||||||||||
Net (charge-offs) recoveries | 0 | 0 | (47 | ) | 15 | (8 | ) | (40 | ) | ||||||||||||||||||||||||
Ending balance | $ | 549 | 483 | 163 | 318 | 21 | 1,534 | ||||||||||||||||||||||||||
Six-Month Period Ended June 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | 352 | 226 | 237 | 405 | 23 | 1,243 | |||||||||||||||||||||||||||
Provision (credit) for loan losses | 197 | 257 | (27 | ) | (102 | ) | (2 | ) | 323 | ||||||||||||||||||||||||
Net (charge-offs) recoveries | 0 | 0 | (47 | ) | 15 | 0 | (32 | ) | |||||||||||||||||||||||||
Ending balance | $ | 549 | 483 | 163 | 318 | 21 | 1,534 | ||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 1,403 | 35 | 0 | 210 | 0 | 1,648 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 504 | 22 | 0 | 72 | 0 | 598 | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 46,908 | 43,560 | 14,304 | 25,549 | 1,962 | 132,283 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 545 | 501 | 274 | 406 | 21 | 1,747 | ||||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 0 | 36 | 0 | 346 | 0 | 382 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 0 | 23 | 0 | 82 | 0 | 105 | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 44,796 | 38,535 | 12,933 | 24,305 | 2,072 | 122,641 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 604 | 522 | 175 | 305 | 23 | 1,629 | ||||||||||||||||||||||||||
The Company has divided the loan portfolio into three portfolio segments and five portfolio classes, each with different risk characteristics and methodologies for assessing risk. All loans are underwritten based upon standards set forth in the policies approved by the Company’s Board of Directors. The portfolio segments and classes are identified by the Company as follows: | |||||||||||||||||||||||||||||||||
Real Estate Mortgage Loans. Real estate mortgage loans are typically divided into three classes: Commercial, residential and home equity and construction loans. The real estate mortgage loans are as follows: | |||||||||||||||||||||||||||||||||
Commercial Real Estate Loans. Loans of this type are typically our more complex loans. This category of real estate loans is comprised of loans secured by mortgages on commercial property that is typically owner-occupied, but also includes nonowner occupied investment properties. Commercial loans that are secured by owner-occupied commercial real estate are repaid through operating cash flows of the borrower. The maturity for this type of loan is generally limited to three to five years; however, payments may be structured on a longer amortization basis. Typically, interest rates on our commercial real estate loans are fixed for five years or less after which they adjust based upon a predetermined spread over an index. At times, a rate may be fixed for longer than five years. As part of our credit underwriting standards, the Bank typically requires personal guarantees from the principal owners of the business supported by a review of the principal owners’ personal financial statements and tax returns. As part of the enterprise risk management process, it is understood that risks associated with commercial real estate loans include fluctuations in real estate values, the overall strength of the borrower, the overall strength of the economy, new job creation trends, tenant vacancy rates, environmental contamination, and the quality of the borrowers’ management. In order to mitigate and limit these risks, we analyze the borrowers’ cash flow and evaluate collateral value. Currently, the collateral securing our commercial real estate loans include a variety of property types, such as office, warehouse, and retail facilities. Other types include multifamily properties, hotels, mixed-use residential, and commercial properties. Generally, commercial real estate loans present a higher risk profile than our residential real estate loan portfolio. | |||||||||||||||||||||||||||||||||
Residential Real Estate Loans. We offer first and second one-to-four family mortgage loans and home equity lines of credit; the collateral for these loans is generally on the clients’ owner-occupied residences. Although these types of loans present lower levels of risk than commercial real estate loans, risks do still exist because of possible fluctuations in the value of the real estate collateral securing the loan, as well as changes in the borrowers’ financial condition. Borrowers may be affected by numerous factors, including job loss, illness, or other personal hardship. As part of our product mix, the Bank offers both portfolio and secondary market mortgages; portfolio loans generally are based on a 1-year, 3-year or 5-year adjustable rate mortgage; while 15-year or 30-year fixed-rate loans are sold to the secondary market. | |||||||||||||||||||||||||||||||||
Construction Loans. Typically, these loans have a term of one to two years and the interest is paid monthly. This portion of our loan portfolio includes loans to small and midsized businesses to construct owner-user properties, loans to developers of commercial real estate investment properties, and residential developments. This type of loan is also made to individual clients for construction of single family homes in our market area. An independent appraisal is used to determine the value of the collateral and confirm that the ratio of the loan principal to the value of the collateral will not exceed policies of the Bank. As the construction project progresses, loan proceeds are requested by the borrower to complete phases of construction and funding is only disbursed after the project has been inspected by a third-party inspector or experienced construction lender. Risks associated with construction loans include fluctuations in the value of real estate, project completion risk, and changes in market trends. The ability of the construction loan borrower to finance the loan or sell the property upon completion of the project is another risk factor that also may be affected by changes in market trends since the initial funding of the loan. | |||||||||||||||||||||||||||||||||
Commercial Loans. The Bank offers a wide range of commercial loans, including business term loans, equipment financing, and lines of credit to small and midsized businesses. Small-to-medium sized businesses, retail, and professional establishments, make up our target market for commercial loans. Our Relationship Managers primarily underwrite these loans based on the borrower’s ability to service the loan from cash flow. Lines of credit and loans secured by accounts receivable and/or inventory are monitored periodically by our staff. Loans secured by “all business assets,” or a “blanket lien” are typically only made to highly qualified borrowers due to the nonspecific nature of the collateral. Valuation of business collateral is generally supported by an appraisal, purchase order, or third party physical inspection. Personal guarantees of the principals of business borrowers are usually required. | |||||||||||||||||||||||||||||||||
Equipment loans generally have a term of five years or less and may have a fixed or variable rate; we use conservative margins when pricing these loans. Working capital loans generally do not exceed one year and typically, they are secured by accounts receivable, inventory, and personal guarantees of the principals of the business. Significant factors affecting a commercial borrower’s creditworthiness include the quality of management and the ability both to evaluate changes in the supply and demand characteristics affecting the business’ markets for products and services and to respond effectively to such changes. These loans may be made unsecured or secured, but most are made on a secured basis. Risks associated with our commercial loan portfolio include local, regional, and national market conditions. Other factors of risk could include changes in the borrower’s management and fluctuations in collateral value. Additionally, there may be refinancing risk if a commercial loan includes a balloon payment which must be refinanced or paid off at loan maturity. | |||||||||||||||||||||||||||||||||
In reference to our risk management process, our commercial loan portfolio presents a higher risk profile than our consumer real estate and consumer loan portfolios. Therefore, we require that all loans to businesses must have a clearly stated and reasonable payment plan to allow for timely retirement of debt, unless secured by liquid collateral or as otherwise justified. | |||||||||||||||||||||||||||||||||
Consumer Loans and Other. These loans are made for various consumer purposes, such as the financing of automobiles, boats, and recreational vehicles. The payment structure of these loans is normally on an installment basis. The risk associated with this category of loans stems from the reduced collateral value for a defaulted loan; the collateral may not provide an adequate source of repayment of the principal. The underwriting on these loans is primarily based on the borrower’s financial condition. In many cases, these are unsecured credits that subject us to risk when the borrower’s financial condition declines or deteriorates. Based upon our current trend in consumer loans, management does not anticipate consumer loans will become a substantial component of our loan portfolio at any time in the foreseeable future. Consumer loans are made at fixed- and variable-interest rates and are based on the appropriate amortization for the asset and purpose. | |||||||||||||||||||||||||||||||||
The following summarizes the loan credit quality (in thousands): | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||||||||
Mentioned | |||||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 44,468 | 390 | 3,453 | 0 | 0 | 48,311 | ||||||||||||||||||||||||||
Residential and home equity | 39,733 | 3,059 | 803 | 0 | 0 | 43,595 | |||||||||||||||||||||||||||
Construction | 14,220 | 76 | 8 | 0 | 0 | 14,304 | |||||||||||||||||||||||||||
Commercial loans | 24,676 | 392 | 691 | 0 | 0 | 25,759 | |||||||||||||||||||||||||||
Consumer and other loans | 1,887 | 32 | 43 | 0 | 0 | 1,962 | |||||||||||||||||||||||||||
Total | $ | 124,984 | 3,949 | 4,998 | 0 | 0 | 133,931 | ||||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | 40,901 | 1,804 | 2,091 | 0 | 0 | 44,796 | |||||||||||||||||||||||||||
Residential and home equity | 36,461 | 1,346 | 764 | 0 | 0 | 38,571 | |||||||||||||||||||||||||||
Construction | 12,528 | 396 | 9 | 0 | 0 | 12,933 | |||||||||||||||||||||||||||
Commercial loans | 23,919 | 509 | 223 | 0 | 0 | 24,651 | |||||||||||||||||||||||||||
Consumer and other loans | 1,914 | 38 | 120 | 0 | 0 | 2,072 | |||||||||||||||||||||||||||
Total | $ | 115,723 | 4,093 | 3,207 | 0 | 0 | 123,023 | ||||||||||||||||||||||||||
The Company categorizes 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. Loans classified as substandard or special mention are reviewed quarterly by the Company for further deterioration or improvement to determine if they are appropriately classified and whether there is any impairment. All loans are graded upon initial issuance. Further construction and nonowner occupied commercial real estate loans are reviewed at least annually and commercial relationships in excess of $500,000. In addition, during the renewal process of any loan, as well as if a loan becomes past due, the Company will determine the appropriate loan grade. | |||||||||||||||||||||||||||||||||
Loans excluded from the review process above are generally classified as pass credits until: (a) they become past due; (b) management becomes aware of a deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification as to special mention, substandard or even charged-off. The Company uses the following definitions for risk ratings: | |||||||||||||||||||||||||||||||||
Pass – A Pass loan’s primary source of loan repayment is satisfactory, with secondary sources very likely to be realized if necessary. | |||||||||||||||||||||||||||||||||
Special Mention – A Special Mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or the Company’s credit position at some future date. Special Mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. | |||||||||||||||||||||||||||||||||
Substandard – A Substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||
Doubtful – A loan classified Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||||||
Loss – A loan classified Loss is considered uncollectible and of such little value that continuance as a bankable asset is not warranted. This classification does not necessarily preclude the potential for recovery, but rather signifies it is no longer practical to defer writing off the asset. | |||||||||||||||||||||||||||||||||
Age analysis of past-due loans is as follows (in thousands): | |||||||||||||||||||||||||||||||||
Accruing Loans | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Nonaccrual | Total | |||||||||||||||||||||||||||
Days | Days | Than 90 | Past | Loans | Loans | ||||||||||||||||||||||||||||
Past Due | Past Due | Days | Due | ||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 0 | 0 | 0 | 0 | 46,908 | 1,403 | 48,311 | |||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 0 | 0 | 43,595 | 0 | 43,595 | ||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 0 | 14,304 | 0 | 14,304 | ||||||||||||||||||||||||||
Commercial loans | 127 | 0 | 0 | 127 | 25,632 | 0 | 25,759 | ||||||||||||||||||||||||||
Consumer and other loans | 0 | 0 | 0 | 0 | 1,962 | 0 | 1,962 | ||||||||||||||||||||||||||
Total | $ | 127 | 0 | 0 | 127 | 132,401 | 1,403 | 133,931 | |||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | 0 | 0 | 0 | 0 | 44,796 | 0 | 44,796 | ||||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 0 | 0 | 38,571 | 0 | 38,571 | ||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 0 | 12,933 | 0 | 12,933 | ||||||||||||||||||||||||||
Commercial loans | 38 | 0 | 0 | 38 | 24,613 | 0 | 24,651 | ||||||||||||||||||||||||||
Consumer and other loans | 0 | 0 | 0 | 0 | 2,072 | 0 | 2,072 | ||||||||||||||||||||||||||
Total | $ | 38 | 0 | 0 | 38 | 122,985 | 0 | 123,023 | |||||||||||||||||||||||||
The following summarizes the amount of impaired loans (in thousands): | |||||||||||||||||||||||||||||||||
With No Related | With an Allowance Recorded | Total | |||||||||||||||||||||||||||||||
Allowance Recorded | |||||||||||||||||||||||||||||||||
Recorded | Unpaid | Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||||||||
Investment | Contractual | Investment | Contractual | Allowance | Investment | Contractual | Allowance | ||||||||||||||||||||||||||
Principal | Principal | Principal | |||||||||||||||||||||||||||||||
Balance | Balance | Balance | |||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 0 | 0 | 1,403 | 1,403 | 504 | 1,403 | 1,403 | 504 | ||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 35 | 35 | 22 | 35 | 35 | 22 | |||||||||||||||||||||||||
Commercial loans | 50 | 50 | 160 | 160 | 72 | 210 | 210 | 72 | |||||||||||||||||||||||||
Total | $ | 50 | 50 | 1,598 | 1,598 | 598 | 1,648 | 1,648 | 598 | ||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 36 | 36 | 23 | 36 | 36 | 23 | |||||||||||||||||||||||||
Commercial loans | 27 | 27 | 319 | 319 | 82 | 346 | 346 | 82 | |||||||||||||||||||||||||
Total | $ | 27 | 27 | 355 | 355 | 105 | 382 | 382 | 105 | ||||||||||||||||||||||||
The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended June 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Interest | Average | Interest | Interest | ||||||||||||||||||||||||||||
Recorded | Income | Income | Recorded | Income | Income | ||||||||||||||||||||||||||||
Investment | Recognized | Received | Investment | Recognized | Received | ||||||||||||||||||||||||||||
Commercial real estate | $ | 1,403 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Residential and home equity | 36 | 1 | 1 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial loans | 213 | 2 | 3 | 129 | 2 | 2 | |||||||||||||||||||||||||||
Total | $ | 1,652 | 3 | 4 | 129 | 2 | 2 | ||||||||||||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Interest | Average | Interest | Interest | ||||||||||||||||||||||||||||
Recorded | Income | Income | Recorded | Income | Income | ||||||||||||||||||||||||||||
Investment | Recognized | Received | Investment | Recognized | Received | ||||||||||||||||||||||||||||
Commercial real estate | $ | 775 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Residential and home equity | 36 | 1 | 1 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 315 | 4 | 4 | |||||||||||||||||||||||||||
Commercial loans | 216 | 6 | 7 | 129 | 2 | 2 | |||||||||||||||||||||||||||
Total | $ | 1,027 | 7 | 8 | 444 | 6 | 6 | ||||||||||||||||||||||||||
There were no loans measured at fair value on a nonrecurring basis at December 31, 2013. Impaired collateral-dependent loans measured at fair value on a nonrecurring basis by loan class at June 30, 2014 are as follows (in thousands): | |||||||||||||||||||||||||||||||||
Losses | |||||||||||||||||||||||||||||||||
At Year End | Recorded | ||||||||||||||||||||||||||||||||
During | |||||||||||||||||||||||||||||||||
Fair | Level 1 | Level 2 | Level 3 | Total | the Year | ||||||||||||||||||||||||||||
Value | Losses | ||||||||||||||||||||||||||||||||
Commercial real estate loans | $ | 899 | — | — | 899 | 504 | 504 | ||||||||||||||||||||||||||
There were no loans determined to be troubled debt restructuring (“TDR”) entered into during the three months ended June 30, 2014 and 2013 and the six months ended June 30, 2013. The following is a summary of loans determined to be TDR’s entered into during the six months ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Number | Pre- | Post- | |||||||||||||||||||||||||||||||
of | Modification | Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Residential and home equity: | |||||||||||||||||||||||||||||||||
Modified payment schedule for six months | 1 | $ | 35 | 35 | |||||||||||||||||||||||||||||
The allowance for loan losses on all loans that have been restructured and are considered TDR’s is included in the Bank’s specific reserve. The specific reserve is determined on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, or the fair value of the collateral if the loan is collateral-dependent. TDR’s that have subsequently defaulted are considered collateral-dependent. There were no TDR’s that subsequently defaulted during the three and six months ended June 30, 2014, which were restructured during the same period. | |||||||||||||||||||||||||||||||||
Regulatory_Capital
Regulatory Capital | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Regulatory Capital | ' | ||||||||
-4 | Regulatory Capital | ||||||||
Banks are required to maintain certain minimum regulatory capital requirements. The Bank is considered to be well-capitalized. The following is a summary at June 30, 2014 of the regulatory capital requirements and the Bank’s capital on a percentage basis: | |||||||||
Bank | Regulatory | ||||||||
Requirement | |||||||||
Tier I capital to total average assets | 8.96 | % | 6 | % | |||||
Tier I capital to risk-weighted assets | 13.18 | % | 8 | % | |||||
Total capital to risk-weighted assets | 14.43 | % | 10 | % | |||||
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||||||||
-5 | Earnings Per Share | ||||||||||||||||||||||||
Earnings per share has been computed on the basis of the weighted-average number of shares of common stock outstanding. Basic earnings per share has been computed on the basis of the weighted-average number of shares of common stock outstanding during the period. For the three-months ended June 30, 2014, the outstanding stock options are not considered dilutive securities to the net loss incurred by the Company. For the six months ended June 30, 2014 and the three and six months ended June 30, 2013 outstanding stock options are considered dilutive securities for purposes of calculating diluted EPS which was computed using the treasury stock method (dollars in thousands, except per share amounts): | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Earnings | Weighted- | Per | Loss | Weighted- | Per | ||||||||||||||||||||
Average | Share | Average | Share | ||||||||||||||||||||||
Shares | Amount | Shares | Amount | ||||||||||||||||||||||
Three Months Ended June 30: | |||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | (91 | ) | 1,692,105 | $ | (0.05 | ) | $ | 270 | 1,497,367 | $ | 0.18 | |||||||||||||
Effect of dilutive securities- | |||||||||||||||||||||||||
Incremental shares from assumed conversion of options | — | 2,641 | |||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | (91 | ) | 1,692,105 | $ | (0.05 | ) | $ | 270 | 1,500,008 | $ | 0.18 | |||||||||||||
Six Months Ended June 30: | |||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | 165 | 1,613,921 | $ | 0.1 | $ | 563 | 1,496,996 | $ | 0.38 | |||||||||||||||
Effect of dilutive securities- | |||||||||||||||||||||||||
Incremental shares from assumed conversion of options | 10,297 | 10,566 | |||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | 165 | 1,624,218 | $ | 0.1 | $ | 563 | 1,507,562 | $ | 0.37 | |||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
-6 | Stock-Based Compensation | ||||||||||||||||
The 2007 Stock Option Plan provides for certain key employees and directors of the Company to have the option to purchase shares of the Company’s common stock. Under this Plan, the total number of shares which may be issued is 152,905. All options granted have six to ten-year terms and vest over periods up to five years. As of June 30, 2014, there were 18,905 shares available for grant. | |||||||||||||||||
A summary of the activity in the Company’s Stock Option Plan is as follows: | |||||||||||||||||
Weighted- | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Price | Term | Value | ||||||||||||||
Outstanding at December 31, 2012 | 136,000 | $ | 10 | ||||||||||||||
Options granted | 2,500 | 10.72 | |||||||||||||||
Options forfeited | (2,500 | ) | 10 | ||||||||||||||
Outstanding at June 30, 2013 | 136,000 | $ | 10.01 | ||||||||||||||
Outstanding at December 31, 2013 | 134,000 | $ | 10.01 | ||||||||||||||
Outstanding at June 30, 2014 | 134,000 | $ | 10.01 | 4.7 years | |||||||||||||
Exercisable at June 30, 2014 | 131,000 | $ | 10 | 4.6 years | $ | 328,000 | |||||||||||
At June 30, 2014, there was $3,000 of total unrecognized compensation expense related to nonvested share-based compensation arrangements granted under the plans. The cost is expected to be recognized over a weighted-average period of twenty-three months. The total fair value of shares vesting and recognized as compensation expense was $0 and $1,000 for the six months ended June 30, 2014 and 2013, respectively. There was no associated income tax benefit recognized for the periods ending June 30, 2014 and June 30, 2013. | |||||||||||||||||
The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||
Six Months | |||||||||||||||||
Ended | |||||||||||||||||
June 30, 2013 | |||||||||||||||||
Weighted-average risk-free interest rate | 1.13 | % | |||||||||||||||
Expected dividend yield | 0 | ||||||||||||||||
Expected stock volatility | 11.37 | % | |||||||||||||||
Expected life in years | 6.5 | ||||||||||||||||
Per share fair value of options issued during the year | $ | 1.22 | |||||||||||||||
The Company used the guidance in Staff Accounting Bulletin No. 107 to determine the estimated life of options issued. Expected volatility is based on volatility of similar companies’ common stock. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield is based on the Company’s history and expectation of dividend payouts. | |||||||||||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||
-7 | Fair Value of Financial Instruments | ||||||||||||||||||||||||
The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands): | |||||||||||||||||||||||||
At June 30, 2014 | At December 31, 2013 | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
Amount | Value | Level | Amount | Value | Level | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 22,990 | 22,990 | 1 | 34,166 | 34,166 | 1 | ||||||||||||||||||
Securities available for sale | 43,099 | 43,099 | 2 | 44,071 | 44,071 | 2 | |||||||||||||||||||
Loans held for sale | 2,002 | 2,034 | 3 | 150 | 150 | 3 | |||||||||||||||||||
Loans, net | 131,537 | 129,840 | 3 | 121,220 | 121,964 | 3 | |||||||||||||||||||
Federal Home Loan Bank stock | 186 | 186 | 3 | 204 | 204 | 3 | |||||||||||||||||||
Accrued interest receivable | 570 | 570 | 3 | 516 | 516 | 3 | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||
Deposits | 181,840 | 181,890 | 3 | 183,365 | 183,295 | 3 | |||||||||||||||||||
Other borrowings | 2,741 | 2,741 | 3 | 5,719 | 5,719 | 3 | |||||||||||||||||||
Off balance sheet items | 0 | 0 | 3 | 0 | 0 | 3 | |||||||||||||||||||
Discussion regarding the assumptions used to compute the estimated fair values of financial instruments can be found in Note 1 to the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2013. |
Common_Stock_Offering
Common Stock Offering | 6 Months Ended | |
Jun. 30, 2014 | ||
Text Block [Abstract] | ' | |
Common Stock Offering | ' | |
-8 | Common Stock Offering | |
The Company filed a Registration Statement with the Securities and Exchange Commission which was effective on December 11, 2013. The Company is offering up to 1,200,000 shares of common stock for $12.50 per share. The Offering has been extended to December 31, 2014. As of June 30, 2014, the Company has sold 285,432 shares of common stock for proceeds of $3.3 million. |
General_Policies
General (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Comprehensive Income | ' |
Comprehensive Income (Loss). Accounting principles generally accepted in the United States of America (“GAAP”) generally require that recognized revenue, expenses, gains and losses be included in operations. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the consolidated balance sheet, such items along with net (loss) earnings, are components of comprehensive income. The only component of other comprehensive income (loss) is the net change in the unrealized gains (loss) on the securities available for sale. | |
Share-Based Compensation | ' |
Share-Based Compensation. The Company expenses the fair value of any stock options granted. The Company recognizes share-based compensation in the statements of earnings as the options vest. | |
Recent Accounting Standards Update | ' |
Recent Accounting Standards Update. In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure, which is intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. These amendments clarify that an insubstance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures are required. The amendments are effective beginning January 1, 2015. | |
Recent Accounting Standards Update, Continued. In June 2014, FASB issued ASU 2014-11, Transfers and Servicing - Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. ASU 2014-11 requires, among other things, two accounting changes. First, the amendments in this update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. ASU 2014-11 is effective for the first interim or annual period beginning after December 15, 2014. The adoption of this guidance is not expected to have any impact on the Company’s consolidated financial statements. | |
In June 2014, FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. ASU 2014-12 requires, among other things, that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. ASU 2014-12 is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have any impact on the Company’s consolidated financial statements. | |
Recent Regulatory Developments | ' |
Recent Regulatory Developments | |
Basel III Rules. On July 2, 2013, the Federal Reserve Board (“FRB”) approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks. Under the final rules, minimum requirements will increase for both the quantity and quality of capital held by the Bank. The rules include a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The final rules also raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0% and require a minimum leverage ratio of 4.0%. The final rules also implement strict eligibility criteria for regulatory capital instruments. On July 9, 2013, the FDIC also approved, as an interim final rule, the regulatory capital requirements for U.S. banks, following the actions of the FRB. The FDIC’s rule is identical in substance to the final rules issued by the FRB. | |
The phase-in period for the final rules will begin for the Bank on January 1, 2015, with full compliance with all of the final rule’s requirements phased in over a multi-year schedule. The Bank is currently evaluating the provisions of the final rules and their expected impact on the Bank. |
Securities_Available_for_Sale_
Securities Available for Sale (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Summary of Carrying Amount and Fair Values of Securities | ' | ||||||||||||||||
Securities are classified according to management’s intent. The carrying amount of securities and approximate fair values are as follows (in thousands): | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||
Gains | Losses | ||||||||||||||||
At June 30, 2014: | |||||||||||||||||
U.S. Government agency securities | $ | 7,165 | 17 | (151 | ) | 7,031 | |||||||||||
Municipal securities | 9,685 | 87 | (87 | ) | 9,685 | ||||||||||||
Mortgage-backed securities | 24,183 | 332 | (67 | ) | 24,448 | ||||||||||||
Asset-backed securities | 1,924 | 11 | 0 | 1,935 | |||||||||||||
$ | 42,957 | 447 | (305 | ) | 43,099 | ||||||||||||
At December 31, 2013: | |||||||||||||||||
U.S. Government agency securities | 7,290 | 8 | (329 | ) | 6,969 | ||||||||||||
Municipal securities | 9,139 | 14 | (269 | ) | 8,884 | ||||||||||||
Mortgage-backed securities | 26,225 | 253 | (198 | ) | 26,280 | ||||||||||||
Asset-backed securities | 1,916 | 22 | 0 | 1,938 | |||||||||||||
$ | 44,570 | 297 | (796 | ) | 44,071 | ||||||||||||
Summary of Securities in Continuous Unrealized Loss Position | ' | ||||||||||||||||
Securities with gross unrealized losses at June 30, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows (in thousands): | |||||||||||||||||
Less Than Twelve Months | Over Twelve Months | ||||||||||||||||
Gross | Fair | Gross | Fair | ||||||||||||||
Unrealized | Value | Unrealized | Value | ||||||||||||||
Losses | Losses | ||||||||||||||||
Securities Available for Sale: | |||||||||||||||||
U.S. Government agency securities | $ | 0 | 0 | 151 | 6,057 | ||||||||||||
Municipal securities | 0 | 0 | 87 | 3,726 | |||||||||||||
Mortgage-backed securities | 11 | 7,351 | 56 | 1,938 | |||||||||||||
$ | 11 | 7,351 | 294 | 11,721 | |||||||||||||
Securities Available for Sale Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Securities available for sale measured at fair value on a recurring basis are summarized below (in thousands): | |||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Fair | Quoted Prices | Significant | Significant | ||||||||||||||
Value | In Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | |||||||||||||||
Identical | Inputs | (Level 3) | |||||||||||||||
Assets | (Level 2) | ||||||||||||||||
(Level 1) | |||||||||||||||||
At June 30, 2014: | |||||||||||||||||
U.S. Government agency securities | $ | 7,031 | 0 | 7,031 | 0 | ||||||||||||
Municipal securities | 9,685 | 0 | 9,685 | 0 | |||||||||||||
Mortgage-backed securities | 24,448 | 0 | 24,448 | 0 | |||||||||||||
Asset-backed securities | 1,935 | 0 | 1,935 | 0 | |||||||||||||
$ | 43,099 | 0 | 43,099 | 0 | |||||||||||||
At December 31, 2013: | |||||||||||||||||
U.S. Government agency securities | 6,969 | 0 | 6,969 | 0 | |||||||||||||
Municipal securities | 8,884 | 0 | 8,884 | 0 | |||||||||||||
Mortgage-backed securities | 26,280 | 0 | 26,280 | 0 | |||||||||||||
Asset-backed securities | 1,938 | 0 | 1,938 | 0 | |||||||||||||
$ | 44,071 | 0 | 44,071 | 0 | |||||||||||||
Scheduled Maturities of Securities with Fair Value and Amortized Cost | ' | ||||||||||||||||
During the six months ended June 30, 2014 and the year ended December 31, 2013, no securities were transferred in or out of Level 1, Level 2 or Level 3. | |||||||||||||||||
The scheduled maturities of securities are as follows (in thousands): | |||||||||||||||||
Amortized | Fair | ||||||||||||||||
Cost | Value | ||||||||||||||||
At June 30, 2014: | |||||||||||||||||
Due in one to five years | $ | 2,840 | 2,863 | ||||||||||||||
Due five to ten years | 5,860 | 5,747 | |||||||||||||||
Due after ten years | 8,150 | 8,106 | |||||||||||||||
Mortgage-backed securities | 24,183 | 24,448 | |||||||||||||||
Asset-backed securities | 1,924 | 1,935 | |||||||||||||||
$ | 42,957 | 43,099 |
Loans_Tables
Loans (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Segments of Loans | ' | ||||||||||||||||||||||||||||||||
The segments of loans are as follows (in thousands): | |||||||||||||||||||||||||||||||||
At June 30, | At December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 48,311 | 44,796 | ||||||||||||||||||||||||||||||
Residential and home equity | 43,595 | 38,571 | |||||||||||||||||||||||||||||||
Construction | 14,304 | 12,933 | |||||||||||||||||||||||||||||||
Total real estate mortgage loans | 106,210 | 96,300 | |||||||||||||||||||||||||||||||
Commercial loans | 25,759 | 24,651 | |||||||||||||||||||||||||||||||
Consumer and other loans | 1,962 | 2,072 | |||||||||||||||||||||||||||||||
Total loans | 133,931 | 123,023 | |||||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||||||
Net deferred loan fees | (49 | ) | (69 | ) | |||||||||||||||||||||||||||||
Allowance for loan losses | (2,345 | ) | (1,734 | ) | |||||||||||||||||||||||||||||
Loans, net | $ | 131,537 | 121,220 | ||||||||||||||||||||||||||||||
Summary of Changes in Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||
An analysis of the change in the allowance for loan losses follows (in thousands): | |||||||||||||||||||||||||||||||||
Real Estate Mortgage Loans | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||
Loans | and | ||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Commercial | Residential | Construction | Loans | ||||||||||||||||||||||||||||||
and Home | |||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||
Three-Month Period Ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 617 | 575 | 160 | 401 | 22 | 1,775 | ||||||||||||||||||||||||||
Provision (credit) for loan losses | 432 | (52 | ) | 114 | 69 | (1 | ) | 562 | |||||||||||||||||||||||||
Net recoveries | 0 | 0 | 0 | 8 | 0 | 8 | |||||||||||||||||||||||||||
Ending balance | $ | 1,049 | 523 | 274 | 478 | 21 | 2,345 | ||||||||||||||||||||||||||
Six-Month Period Ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Beginning balance | 604 | 545 | 175 | 387 | 23 | 1,734 | |||||||||||||||||||||||||||
Provision (credit) for loan losses | 445 | (22 | ) | 99 | 71 | (2 | ) | 591 | |||||||||||||||||||||||||
Net recoveries | 0 | 0 | 0 | 20 | 0 | 20 | |||||||||||||||||||||||||||
Ending balance | $ | 1,049 | 523 | 274 | 478 | 21 | 2,345 | ||||||||||||||||||||||||||
Three-Month Period Ended June 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 527 | 477 | 119 | 297 | 16 | 1,436 | ||||||||||||||||||||||||||
Provision for loan losses | 22 | 6 | 91 | 6 | 13 | 138 | |||||||||||||||||||||||||||
Net (charge-offs) recoveries | 0 | 0 | (47 | ) | 15 | (8 | ) | (40 | ) | ||||||||||||||||||||||||
Ending balance | $ | 549 | 483 | 163 | 318 | 21 | 1,534 | ||||||||||||||||||||||||||
Six-Month Period Ended June 30, 2013: | |||||||||||||||||||||||||||||||||
Beginning balance | 352 | 226 | 237 | 405 | 23 | 1,243 | |||||||||||||||||||||||||||
Provision (credit) for loan losses | 197 | 257 | (27 | ) | (102 | ) | (2 | ) | 323 | ||||||||||||||||||||||||
Net (charge-offs) recoveries | 0 | 0 | (47 | ) | 15 | 0 | (32 | ) | |||||||||||||||||||||||||
Ending balance | $ | 549 | 483 | 163 | 318 | 21 | 1,534 | ||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 1,403 | 35 | 0 | 210 | 0 | 1,648 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 504 | 22 | 0 | 72 | 0 | 598 | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 46,908 | 43,560 | 14,304 | 25,549 | 1,962 | 132,283 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 545 | 501 | 274 | 406 | 21 | 1,747 | ||||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Individually evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 0 | 36 | 0 | 346 | 0 | 382 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 0 | 23 | 0 | 82 | 0 | 105 | ||||||||||||||||||||||||||
Collectively evaluated for impairment: | |||||||||||||||||||||||||||||||||
Recorded investment | $ | 44,796 | 38,535 | 12,933 | 24,305 | 2,072 | 122,641 | ||||||||||||||||||||||||||
Balance in allowance for loan losses | $ | 604 | 522 | 175 | 305 | 23 | 1,629 | ||||||||||||||||||||||||||
Summary of Loan Credit Quality | ' | ||||||||||||||||||||||||||||||||
The following summarizes the loan credit quality (in thousands): | |||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||||||||
Mentioned | |||||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 44,468 | 390 | 3,453 | 0 | 0 | 48,311 | ||||||||||||||||||||||||||
Residential and home equity | 39,733 | 3,059 | 803 | 0 | 0 | 43,595 | |||||||||||||||||||||||||||
Construction | 14,220 | 76 | 8 | 0 | 0 | 14,304 | |||||||||||||||||||||||||||
Commercial loans | 24,676 | 392 | 691 | 0 | 0 | 25,759 | |||||||||||||||||||||||||||
Consumer and other loans | 1,887 | 32 | 43 | 0 | 0 | 1,962 | |||||||||||||||||||||||||||
Total | $ | 124,984 | 3,949 | 4,998 | 0 | 0 | 133,931 | ||||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | 40,901 | 1,804 | 2,091 | 0 | 0 | 44,796 | |||||||||||||||||||||||||||
Residential and home equity | 36,461 | 1,346 | 764 | 0 | 0 | 38,571 | |||||||||||||||||||||||||||
Construction | 12,528 | 396 | 9 | 0 | 0 | 12,933 | |||||||||||||||||||||||||||
Commercial loans | 23,919 | 509 | 223 | 0 | 0 | 24,651 | |||||||||||||||||||||||||||
Consumer and other loans | 1,914 | 38 | 120 | 0 | 0 | 2,072 | |||||||||||||||||||||||||||
Total | $ | 115,723 | 4,093 | 3,207 | 0 | 0 | 123,023 | ||||||||||||||||||||||||||
Summary of Past Due Loans | ' | ||||||||||||||||||||||||||||||||
Age analysis of past-due loans is as follows (in thousands): | |||||||||||||||||||||||||||||||||
Accruing Loans | |||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Current | Nonaccrual | Total | |||||||||||||||||||||||||||
Days | Days | Than 90 | Past | Loans | Loans | ||||||||||||||||||||||||||||
Past Due | Past Due | Days | Due | ||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | $ | 0 | 0 | 0 | 0 | 46,908 | 1,403 | 48,311 | |||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 0 | 0 | 43,595 | 0 | 43,595 | ||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 0 | 14,304 | 0 | 14,304 | ||||||||||||||||||||||||||
Commercial loans | 127 | 0 | 0 | 127 | 25,632 | 0 | 25,759 | ||||||||||||||||||||||||||
Consumer and other loans | 0 | 0 | 0 | 0 | 1,962 | 0 | 1,962 | ||||||||||||||||||||||||||
Total | $ | 127 | 0 | 0 | 127 | 132,401 | 1,403 | 133,931 | |||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Real estate mortgage loans: | |||||||||||||||||||||||||||||||||
Commercial | 0 | 0 | 0 | 0 | 44,796 | 0 | 44,796 | ||||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 0 | 0 | 38,571 | 0 | 38,571 | ||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 0 | 12,933 | 0 | 12,933 | ||||||||||||||||||||||||||
Commercial loans | 38 | 0 | 0 | 38 | 24,613 | 0 | 24,651 | ||||||||||||||||||||||||||
Consumer and other loans | 0 | 0 | 0 | 0 | 2,072 | 0 | 2,072 | ||||||||||||||||||||||||||
Total | $ | 38 | 0 | 0 | 38 | 122,985 | 0 | 123,023 | |||||||||||||||||||||||||
Summary of Impaired Loans | ' | ||||||||||||||||||||||||||||||||
The following summarizes the amount of impaired loans (in thousands): | |||||||||||||||||||||||||||||||||
With No Related | With an Allowance Recorded | Total | |||||||||||||||||||||||||||||||
Allowance Recorded | |||||||||||||||||||||||||||||||||
Recorded | Unpaid | Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||||||||
Investment | Contractual | Investment | Contractual | Allowance | Investment | Contractual | Allowance | ||||||||||||||||||||||||||
Principal | Principal | Principal | |||||||||||||||||||||||||||||||
Balance | Balance | Balance | |||||||||||||||||||||||||||||||
At June 30, 2014: | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 0 | 0 | 1,403 | 1,403 | 504 | 1,403 | 1,403 | 504 | ||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 35 | 35 | 22 | 35 | 35 | 22 | |||||||||||||||||||||||||
Commercial loans | 50 | 50 | 160 | 160 | 72 | 210 | 210 | 72 | |||||||||||||||||||||||||
Total | $ | 50 | 50 | 1,598 | 1,598 | 598 | 1,648 | 1,648 | 598 | ||||||||||||||||||||||||
At December 31, 2013: | |||||||||||||||||||||||||||||||||
Residential and home equity | 0 | 0 | 36 | 36 | 23 | 36 | 36 | 23 | |||||||||||||||||||||||||
Commercial loans | 27 | 27 | 319 | 319 | 82 | 346 | 346 | 82 | |||||||||||||||||||||||||
Total | $ | 27 | 27 | 355 | 355 | 105 | 382 | 382 | 105 | ||||||||||||||||||||||||
Summary of Average Net Investment in Impaired Loans and Interest Income Recognized and Received on Impaired Loans | ' | ||||||||||||||||||||||||||||||||
The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands): | |||||||||||||||||||||||||||||||||
Three Months Ended June 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Interest | Average | Interest | Interest | ||||||||||||||||||||||||||||
Recorded | Income | Income | Recorded | Income | Income | ||||||||||||||||||||||||||||
Investment | Recognized | Received | Investment | Recognized | Received | ||||||||||||||||||||||||||||
Commercial real estate | $ | 1,403 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Residential and home equity | 36 | 1 | 1 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Commercial loans | 213 | 2 | 3 | 129 | 2 | 2 | |||||||||||||||||||||||||||
Total | $ | 1,652 | 3 | 4 | 129 | 2 | 2 | ||||||||||||||||||||||||||
Six Months Ended June 30, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Average | Interest | Interest | Average | Interest | Interest | ||||||||||||||||||||||||||||
Recorded | Income | Income | Recorded | Income | Income | ||||||||||||||||||||||||||||
Investment | Recognized | Received | Investment | Recognized | Received | ||||||||||||||||||||||||||||
Commercial real estate | $ | 775 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||
Residential and home equity | 36 | 1 | 1 | 0 | 0 | 0 | |||||||||||||||||||||||||||
Construction | 0 | 0 | 0 | 315 | 4 | 4 | |||||||||||||||||||||||||||
Commercial loans | 216 | 6 | 7 | 129 | 2 | 2 | |||||||||||||||||||||||||||
Total | $ | 1,027 | 7 | 8 | 444 | 6 | 6 | ||||||||||||||||||||||||||
Summary of Impaired Collateral Dependent Loans Measured at Fair Value | ' | ||||||||||||||||||||||||||||||||
Impaired collateral-dependent loans measured at fair value on a nonrecurring basis by loan class at June 30, 2014 are as follows (in thousands): | |||||||||||||||||||||||||||||||||
Losses | |||||||||||||||||||||||||||||||||
At Year End | Recorded | ||||||||||||||||||||||||||||||||
During | |||||||||||||||||||||||||||||||||
Fair | Level 1 | Level 2 | Level 3 | Total | the Year | ||||||||||||||||||||||||||||
Value | Losses | ||||||||||||||||||||||||||||||||
Commercial real estate loans | $ | 899 | — | — | 899 | 504 | 504 | ||||||||||||||||||||||||||
Summary of Loans Determined to be TDR | ' | ||||||||||||||||||||||||||||||||
The following is a summary of loans determined to be TDR’s entered into during the six months ended June 30, 2014: | |||||||||||||||||||||||||||||||||
Number | Pre- | Post- | |||||||||||||||||||||||||||||||
of | Modification | Modification | |||||||||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | |||||||||||||||||||||||||||||||
Recorded | Recorded | ||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||||||||||||||||
Residential and home equity: | |||||||||||||||||||||||||||||||||
Modified payment schedule for six months | 1 | $ | 35 | 35 | |||||||||||||||||||||||||||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Banking And Thrift [Abstract] | ' | ||||||||
Summary of Actual Capital Amounts and Percent | ' | ||||||||
Banks are required to maintain certain minimum regulatory capital requirements. The Bank is considered to be well-capitalized. The following is a summary at June 30, 2014 of the regulatory capital requirements and the Bank’s capital on a percentage basis: | |||||||||
Bank | Regulatory | ||||||||
Requirement | |||||||||
Tier I capital to total average assets | 8.96 | % | 6 | % | |||||
Tier I capital to risk-weighted assets | 13.18 | % | 8 | % | |||||
Total capital to risk-weighted assets | 14.43 | % | 10 | % |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||||||||||||||
For the six months ended June 30, 2014 and the three and six months ended June 30, 2013 outstanding stock options are considered dilutive securities for purposes of calculating diluted EPS which was computed using the treasury stock method (dollars in thousands, except per share amounts): | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Earnings | Weighted- | Per | Loss | Weighted- | Per | ||||||||||||||||||||
Average | Share | Average | Share | ||||||||||||||||||||||
Shares | Amount | Shares | Amount | ||||||||||||||||||||||
Three Months Ended June 30: | |||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | (91 | ) | 1,692,105 | $ | (0.05 | ) | $ | 270 | 1,497,367 | $ | 0.18 | |||||||||||||
Effect of dilutive securities- | |||||||||||||||||||||||||
Incremental shares from assumed conversion of options | — | 2,641 | |||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | (91 | ) | 1,692,105 | $ | (0.05 | ) | $ | 270 | 1,500,008 | $ | 0.18 | |||||||||||||
Six Months Ended June 30: | |||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | 165 | 1,613,921 | $ | 0.1 | $ | 563 | 1,496,996 | $ | 0.38 | |||||||||||||||
Effect of dilutive securities- | |||||||||||||||||||||||||
Incremental shares from assumed conversion of options | 10,297 | 10,566 | |||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||
Net earnings (loss) | $ | 165 | 1,624,218 | $ | 0.1 | $ | 563 | 1,507,562 | $ | 0.37 | |||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
A summary of the activity in the Company’s Stock Option Plan is as follows: | |||||||||||||||||
Weighted- | |||||||||||||||||
Weighted- | Average | ||||||||||||||||
Average | Remaining | Aggregate | |||||||||||||||
Number of | Exercise | Contractual | Intrinsic | ||||||||||||||
Options | Price | Term | Value | ||||||||||||||
Outstanding at December 31, 2012 | 136,000 | $ | 10 | ||||||||||||||
Options granted | 2,500 | 10.72 | |||||||||||||||
Options forfeited | (2,500 | ) | 10 | ||||||||||||||
Outstanding at June 30, 2013 | 136,000 | $ | 10.01 | ||||||||||||||
Outstanding at December 31, 2013 | 134,000 | $ | 10.01 | ||||||||||||||
Outstanding at June 30, 2014 | 134,000 | $ | 10.01 | 4.7 years | |||||||||||||
Exercisable at June 30, 2014 | 131,000 | $ | 10 | 4.6 years | $ | 328,000 | |||||||||||
Black-Scholes Option-Pricing Model Assumptions | ' | ||||||||||||||||
The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: | |||||||||||||||||
Six Months | |||||||||||||||||
Ended | |||||||||||||||||
June 30, 2013 | |||||||||||||||||
Weighted-average risk-free interest rate | 1.13 | % | |||||||||||||||
Expected dividend yield | 0 | ||||||||||||||||
Expected stock volatility | 11.37 | % | |||||||||||||||
Expected life in years | 6.5 | ||||||||||||||||
Per share fair value of options issued during the year | $ | 1.22 |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||||||
The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands): | |||||||||||||||||||||||||
At June 30, 2014 | At December 31, 2013 | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
Amount | Value | Level | Amount | Value | Level | ||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 22,990 | 22,990 | 1 | 34,166 | 34,166 | 1 | ||||||||||||||||||
Securities available for sale | 43,099 | 43,099 | 2 | 44,071 | 44,071 | 2 | |||||||||||||||||||
Loans held for sale | 2,002 | 2,034 | 3 | 150 | 150 | 3 | |||||||||||||||||||
Loans, net | 131,537 | 129,840 | 3 | 121,220 | 121,964 | 3 | |||||||||||||||||||
Federal Home Loan Bank stock | 186 | 186 | 3 | 204 | 204 | 3 | |||||||||||||||||||
Accrued interest receivable | 570 | 570 | 3 | 516 | 516 | 3 | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||
Deposits | 181,840 | 181,890 | 3 | 183,365 | 183,295 | 3 | |||||||||||||||||||
Other borrowings | 2,741 | 2,741 | 3 | 5,719 | 5,719 | 3 | |||||||||||||||||||
Off balance sheet items | 0 | 0 | 3 | 0 | 0 | 3 |
General_Additional_Information
General - Additional Information (Detail) | Jun. 30, 2014 | Jul. 02, 2013 | Jul. 02, 2013 | Jul. 02, 2013 |
Basel III Legislation [Member] | Basel III Legislation [Member] | Basel III Legislation [Member] | ||
Minimum [Member] | Maximum [Member] | |||
Accounting Policies [Line Items] | ' | ' | ' | ' |
Percent of outstanding common stock owns | 100.00% | ' | ' | ' |
Tier 1 capital to risk-weighted assets ratio | 13.18% | 4.50% | 4.00% | 6.00% |
Tier 1 capital conservation buffer of risk-weighted assets | ' | 2.50% | ' | ' |
Minimum leverage ratio | 6.00% | 4.00% | ' | ' |
Securities_Available_for_Sale_1
Securities Available for Sale - Summary of Carrying Amount and Fair Values of Securities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $42,957 | $44,570 |
Gross Unrealized Gains | 447 | 297 |
Gross Unrealized Losses | -305 | -796 |
Fair Value | 43,099 | 44,071 |
US Government Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 7,165 | 7,290 |
Gross Unrealized Gains | 17 | 8 |
Gross Unrealized Losses | -151 | -329 |
Fair Value | 7,031 | 6,969 |
Municipal Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 9,685 | 9,139 |
Gross Unrealized Gains | 87 | 14 |
Gross Unrealized Losses | -87 | -269 |
Fair Value | 9,685 | 8,884 |
Mortgage-backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 24,183 | 26,225 |
Gross Unrealized Gains | 332 | 253 |
Gross Unrealized Losses | -67 | -198 |
Fair Value | 24,448 | 26,280 |
Asset-backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,924 | 1,916 |
Gross Unrealized Gains | 11 | 22 |
Gross Unrealized Losses | 0 | 0 |
Fair Value | $1,935 | $1,938 |
Securities_Available_for_Sale_2
Securities Available for Sale - Summary of Securities in Continuous Unrealized Loss Position (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Gross Unrealized Losses, Less Than Twelve Months | $11 |
Fair Value, Less Than Twelve Months | 7,351 |
Gross Unrealized Losses, Over Twelve Months | 294 |
Fair Value, Over Twelve Months | 11,721 |
US Government Agency Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Gross Unrealized Losses, Less Than Twelve Months | 0 |
Fair Value, Less Than Twelve Months | 0 |
Gross Unrealized Losses, Over Twelve Months | 151 |
Fair Value, Over Twelve Months | 6,057 |
Municipal Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Gross Unrealized Losses, Less Than Twelve Months | 0 |
Fair Value, Less Than Twelve Months | 0 |
Gross Unrealized Losses, Over Twelve Months | 87 |
Fair Value, Over Twelve Months | 3,726 |
Mortgage-backed Securities [Member] | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Gross Unrealized Losses, Less Than Twelve Months | 11 |
Fair Value, Less Than Twelve Months | 7,351 |
Gross Unrealized Losses, Over Twelve Months | 56 |
Fair Value, Over Twelve Months | $1,938 |
Securities_Available_for_Sale_3
Securities Available for Sale - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Securities | ||
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Number of securities in unrealized loss | 21 | ' |
Securities transferred in or out of Level 1, Level 2 or Level 3 | $0 | $0 |
Securities_Available_for_Sale_4
Securities Available for Sale - Securities Available for Sale Measured at Fair Value on Recurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $43,099 | $44,071 |
US Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 7,031 | 6,969 |
Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 9,685 | 8,884 |
Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 24,448 | 26,280 |
Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 1,935 | 1,938 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 1 [Member] | US Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 1 [Member] | Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 1 [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 1 [Member] | Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 43,099 | 44,071 |
Level 2 [Member] | US Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 7,031 | 6,969 |
Level 2 [Member] | Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 9,685 | 8,884 |
Level 2 [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 24,448 | 26,280 |
Level 2 [Member] | Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 1,935 | 1,938 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 3 [Member] | US Government Agency Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 3 [Member] | Municipal Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 3 [Member] | Mortgage-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | 0 | 0 |
Level 3 [Member] | Asset-backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair Value | $0 | $0 |
Securities_Available_for_Sale_5
Securities Available for Sale - Scheduled Maturities of Securities with Fair Value and Amortized Cost (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Due in one to five years, Amortized cost | $2,840 | ' |
Due five to ten years, Amortized cost | 5,860 | ' |
Due after ten years, Amortized cost | 8,150 | ' |
Mortgage-backed securities, Amortized cost | 24,183 | ' |
Asset-backed securities, Amortized cost | 1,924 | ' |
Total Amortized Cost | 42,957 | ' |
Due in one to five years, Fair value | 2,863 | ' |
Due five to ten years, Fair value | 5,747 | ' |
Due after ten years, Fair value | 8,106 | ' |
Mortgage-backed securities, Fair value | 24,448 | ' |
Asset-backed securities, Fair value | 1,935 | ' |
Total Fair Value | $43,099 | $44,071 |
Loans_Segments_of_Loans_Detail
Loans - Segments of Loans (Detail) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | $133,931 | ' | $123,023 | ' | ' | ' |
Net deferred loan fees | -49 | ' | -69 | ' | ' | ' |
Allowance for loan losses | -2,345 | -1,775 | -1,734 | -1,534 | -1,436 | -1,243 |
Loans, net | 131,537 | ' | 121,220 | ' | ' | ' |
Commercial Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 48,311 | ' | 44,796 | ' | ' | ' |
Allowance for loan losses | -1,049 | -617 | -604 | -549 | -527 | -352 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 43,595 | ' | 38,571 | ' | ' | ' |
Allowance for loan losses | -523 | -575 | -545 | -483 | -477 | -226 |
Construction Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 14,304 | ' | 12,933 | ' | ' | ' |
Allowance for loan losses | -274 | -160 | -175 | -163 | -119 | -237 |
Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 106,210 | ' | 96,300 | ' | ' | ' |
Commercial Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 25,759 | ' | 24,651 | ' | ' | ' |
Allowance for loan losses | -478 | -401 | -387 | -318 | -297 | -405 |
Consumer And Other Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total loans | 1,962 | ' | 2,072 | ' | ' | ' |
Allowance for loan losses | ($21) | ($22) | ($23) | ($21) | ($16) | ($23) |
Loans_Summary_of_Changes_in_Al
Loans - Summary of Changes in Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | $1,775 | $1,436 | $1,734 | $1,243 | ' |
Provision (credit) for loan losses | 562 | 138 | 591 | 323 | ' |
Net (charge-offs) recoveries | 8 | -40 | 20 | -32 | ' |
Ending balance | 2,345 | 1,534 | 2,345 | 1,534 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 1,648 | ' | 1,648 | ' | 382 |
Balance in allowance for loan losses | 598 | ' | 598 | ' | 105 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 132,283 | ' | 132,283 | ' | 122,641 |
Balance in allowance for loan losses | 1,747 | ' | 1,747 | ' | 1,629 |
Commercial Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 617 | 527 | 604 | 352 | ' |
Provision (credit) for loan losses | 432 | 22 | 445 | 197 | ' |
Net (charge-offs) recoveries | 0 | 0 | 0 | 0 | ' |
Ending balance | 1,049 | 549 | 1,049 | 549 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 1,403 | ' | 1,403 | ' | 0 |
Balance in allowance for loan losses | 504 | ' | 504 | ' | 0 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 46,908 | ' | 46,908 | ' | 44,796 |
Balance in allowance for loan losses | 545 | ' | 545 | ' | 604 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 575 | 477 | 545 | 226 | ' |
Provision (credit) for loan losses | -52 | 6 | -22 | 257 | ' |
Net (charge-offs) recoveries | 0 | 0 | 0 | 0 | ' |
Ending balance | 523 | 483 | 523 | 483 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 35 | ' | 35 | ' | 36 |
Balance in allowance for loan losses | 22 | ' | 22 | ' | 23 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 43,560 | ' | 43,560 | ' | 38,535 |
Balance in allowance for loan losses | 501 | ' | 501 | ' | 522 |
Construction Real Estate Mortgage Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 160 | 119 | 175 | 237 | ' |
Provision (credit) for loan losses | 114 | 91 | 99 | -27 | ' |
Net (charge-offs) recoveries | 0 | -47 | 0 | -47 | ' |
Ending balance | 274 | 163 | 274 | 163 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 0 | ' | 0 | ' | 0 |
Balance in allowance for loan losses | 0 | ' | 0 | ' | 0 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 14,304 | ' | 14,304 | ' | 12,933 |
Balance in allowance for loan losses | 274 | ' | 274 | ' | 175 |
Commercial Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 401 | 297 | 387 | 405 | ' |
Provision (credit) for loan losses | 69 | 6 | 71 | -102 | ' |
Net (charge-offs) recoveries | 8 | 15 | 20 | 15 | ' |
Ending balance | 478 | 318 | 478 | 318 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 210 | ' | 210 | ' | 346 |
Balance in allowance for loan losses | 72 | ' | 72 | ' | 82 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 25,549 | ' | 25,549 | ' | 24,305 |
Balance in allowance for loan losses | 406 | ' | 406 | ' | 305 |
Consumer And Other Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 22 | 16 | 23 | 23 | ' |
Provision (credit) for loan losses | -1 | 13 | -2 | -2 | ' |
Net (charge-offs) recoveries | 0 | -8 | 0 | 0 | ' |
Ending balance | 21 | 21 | 21 | 21 | ' |
Individually evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 0 | ' | 0 | ' | 0 |
Balance in allowance for loan losses | 0 | ' | 0 | ' | 0 |
Collectively evaluated for impairment: | ' | ' | ' | ' | ' |
Recorded investment | 1,962 | ' | 1,962 | ' | 2,072 |
Balance in allowance for loan losses | $21 | ' | $21 | ' | $23 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Segment | Segment | Impaired Loans [Member] | Minimum [Member] | Maximum [Member] | Real Estate Mortgage Loans [Member] | Residential And Home Equity Real Estate Mortgage Loans [Member] | Residential And Home Equity Real Estate Mortgage Loans [Member] | Residential And Home Equity Real Estate Mortgage Loans [Member] | Residential And Home Equity Real Estate Mortgage Loans [Member] | Residential And Home Equity Real Estate Mortgage Loans [Member] | Construction Real Estate Mortgage Loans [Member] | Construction Real Estate Mortgage Loans [Member] | Commercial Loans [Member] | |||
Segment | Period 1 [Member] | Period 1 [Member] | Period 2 [Member] | Period 2 [Member] | Period 3 [Member] | Minimum [Member] | Maximum [Member] | |||||||||
Mortgage Loans [Member] | Mortgage Loans [Member] | Mortgage Loans [Member] | ||||||||||||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loan portfolio | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of loan portfolio class | 5 | ' | 5 | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period of loan | ' | ' | ' | ' | ' | '3 years | '5 years | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' |
Description of interest rate of loans | ' | ' | 'Fixed for five years or less after which they adjust based upon a predetermined spread over an index. At times, a rate may be fixed for longer than five years. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Equipment loans generally have a term of five years or less and may have a fixed or variable rate |
Period of portfolio mortgage adjustable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | '3 years | '5 years | ' | ' | ' |
Period of secondary market mortgage fixed rate | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | ' | '30 years | ' | ' | ' | ' | ' |
Impairment valuation loan limit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $500,000 |
Loans measured at fair value on a nonrecurring basis | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan determined to be troubled debt restructurings | 0 | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan determined trouble debt restructurings | $0 | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Summary_of_Loan_Credit_Q
Loans - Summary of Loan Credit Quality (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | $133,931 | $123,023 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 124,984 | 115,723 |
Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 3,949 | 4,093 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 4,998 | 3,207 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Commercial Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 48,311 | 44,796 |
Commercial Real Estate Mortgage Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 44,468 | 40,901 |
Commercial Real Estate Mortgage Loans [Member] | Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 390 | 1,804 |
Commercial Real Estate Mortgage Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 3,453 | 2,091 |
Commercial Real Estate Mortgage Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Commercial Real Estate Mortgage Loans [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 43,595 | 38,571 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 39,733 | 36,461 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 3,059 | 1,346 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 803 | 764 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Construction Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 14,304 | 12,933 |
Construction Real Estate Mortgage Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 14,220 | 12,528 |
Construction Real Estate Mortgage Loans [Member] | Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 76 | 396 |
Construction Real Estate Mortgage Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 8 | 9 |
Construction Real Estate Mortgage Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Construction Real Estate Mortgage Loans [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 25,759 | 24,651 |
Commercial Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 24,676 | 23,919 |
Commercial Loans [Member] | Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 392 | 509 |
Commercial Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 691 | 223 |
Commercial Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Commercial Loans [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Consumer And Other Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 1,962 | 2,072 |
Consumer And Other Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 1,887 | 1,914 |
Consumer And Other Loans [Member] | Special Mentioned [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 32 | 38 |
Consumer And Other Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 43 | 120 |
Consumer And Other Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | 0 | 0 |
Consumer And Other Loans [Member] | Loss [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans by credit quality | $0 | $0 |
Loans_Summary_of_Past_Due_Loan
Loans - Summary of Past Due Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | $127 | $38 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 127 | 38 |
Current | 132,401 | 122,985 |
Nonaccrual Loans | 1,403 | 0 |
Total Loans | 133,931 | 123,023 |
Commercial Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | 0 | 0 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 0 | 0 |
Current | 46,908 | 44,796 |
Nonaccrual Loans | 1,403 | 0 |
Total Loans | 48,311 | 44,796 |
Residential And Home Equity Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | 0 | 0 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 0 | 0 |
Current | 43,595 | 38,571 |
Nonaccrual Loans | 0 | 0 |
Total Loans | 43,595 | 38,571 |
Construction Real Estate Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | 0 | 0 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 0 | 0 |
Current | 14,304 | 12,933 |
Nonaccrual Loans | 0 | 0 |
Total Loans | 14,304 | 12,933 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | 127 | 38 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 127 | 38 |
Current | 25,632 | 24,613 |
Nonaccrual Loans | 0 | 0 |
Total Loans | 25,759 | 24,651 |
Consumer And Other Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Accruing Loans 30-59 Days Past Due | 0 | 0 |
Accruing Loans 60-89 Days Past Due | 0 | 0 |
Accruing Loans Greater Than 90 Days Past Due | 0 | 0 |
Accruing Loans Total Past Due | 0 | 0 |
Current | 1,962 | 2,072 |
Nonaccrual Loans | 0 | 0 |
Total Loans | $1,962 | $2,072 |
Loans_Summary_of_Impaired_Loan
Loans - Summary of Impaired Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
With No Related Allowing Recorded Investment | $50 | $27 |
With No Related Allowing Unpaid Contractual Principal Balance | 50 | 27 |
With an Allowance Recorded Investment | 1,598 | 355 |
With an Allowance Recorded Unpaid Contractual Principal Balance | 1,598 | 355 |
With an Allowance Recorded Related Allowance | 598 | 105 |
Recorded Investment | 1,648 | 382 |
Unpaid Contractual Principal Balance | 1,648 | 382 |
Related Allowance | 598 | 105 |
Commercial Real Estate Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With No Related Allowing Recorded Investment | 0 | ' |
With No Related Allowing Unpaid Contractual Principal Balance | 0 | ' |
With an Allowance Recorded Investment | 1,403 | ' |
With an Allowance Recorded Unpaid Contractual Principal Balance | 1,403 | ' |
With an Allowance Recorded Related Allowance | 504 | ' |
Recorded Investment | 1,403 | ' |
Unpaid Contractual Principal Balance | 1,403 | ' |
Related Allowance | 504 | ' |
Residential And Home Equity Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With No Related Allowing Recorded Investment | 0 | 0 |
With No Related Allowing Unpaid Contractual Principal Balance | 0 | 0 |
With an Allowance Recorded Investment | 35 | 36 |
With an Allowance Recorded Unpaid Contractual Principal Balance | 35 | 36 |
With an Allowance Recorded Related Allowance | 22 | 23 |
Recorded Investment | 35 | 36 |
Unpaid Contractual Principal Balance | 35 | 36 |
Related Allowance | 22 | 23 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
With No Related Allowing Recorded Investment | 50 | 27 |
With No Related Allowing Unpaid Contractual Principal Balance | 50 | 27 |
With an Allowance Recorded Investment | 160 | 319 |
With an Allowance Recorded Unpaid Contractual Principal Balance | 160 | 319 |
With an Allowance Recorded Related Allowance | 72 | 82 |
Recorded Investment | 210 | 346 |
Unpaid Contractual Principal Balance | 210 | 346 |
Related Allowance | $72 | $82 |
Loans_Summary_of_Average_Net_I
Loans - Summary of Average Net Investment in Impaired Loans and Interest Income Recognized and Received on Impaired Loans (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average Recorded Investment | $1,652 | $129 | $1,027 | $444 |
Interest Income Recognized | 3 | 2 | 7 | 6 |
Interest Income Received | 4 | 2 | 8 | 6 |
Commercial Real Estate Loan [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average Recorded Investment | 1,403 | 0 | 775 | 0 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Interest Income Received | 0 | 0 | 0 | 0 |
Residential And Home Equity Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average Recorded Investment | 36 | 0 | 36 | 0 |
Interest Income Recognized | 1 | 0 | 1 | 0 |
Interest Income Received | 1 | 0 | 1 | 0 |
Construction Real Estate Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average Recorded Investment | ' | ' | 0 | 315 |
Interest Income Recognized | ' | ' | 0 | 4 |
Interest Income Received | ' | ' | 0 | 4 |
Commercial Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average Recorded Investment | 213 | 129 | 216 | 129 |
Interest Income Recognized | 2 | 2 | 6 | 2 |
Interest Income Received | $3 | $2 | $7 | $2 |
Loans_Summary_of_Impaired_Coll
Loans - Summary of Impaired Collateral Dependent Loans Measured at Fair Value (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Losses recorded during the year | $598 | $105 |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Loan [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired collateral-dependent loans , fair value | 899 | ' |
Losses recorded during the year | 504 | ' |
Fair Value, Measurements, Nonrecurring [Member] | Commercial Real Estate Loan [Member] | Level 3 [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired collateral-dependent loans , fair value | $899 | ' |
Loans_Summary_of_Loans_Determi
Loans - Summary of Loans Determined to be TDR (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | |
Residential And Home Equity Loans [Member] | ||||
Interest Payment [Member] | ||||
Contract | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | ' | ' | ' | 1 |
Pre- Modification Outstanding Recorded Investment | ' | ' | ' | $35,000 |
Post- Modification Outstanding Recorded Investment | $0 | $0 | $0 | $35,000 |
Regulatory_Capital_Summary_of_
Regulatory Capital - Summary of Actual Capital Amounts and Percent (Detail) | Jun. 30, 2014 |
Banking And Thrift [Abstract] | ' |
Tier I capital to total average assets | 8.96% |
Tier I capital to risk-weighted assets | 13.18% |
Total capital to risk-weighted assets | 14.43% |
Tier I capital to total average assets | 6.00% |
Tier I capital to risk-weighted assets | 8.00% |
Total capital to risk-weighted assets | 10.00% |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Earnings (loss) | ($91) | $270 | $165 | $563 |
Weighted-Average Shares | 1,692,105 | 1,497,367 | 1,613,921 | 1,496,996 |
Per Share Amount | ($0.05) | $0.18 | $0.10 | $0.38 |
Effect of dilutive securities-Incremental shares from assumed conversion of options | ' | 2,641 | 10,297 | 10,566 |
Earnings (loss) | ($91) | $270 | $165 | $563 |
Weighted-Average Shares | 1,692,105 | 1,500,008 | 1,624,218 | 1,507,562 |
Per Share Amount | ($0.05) | $0.18 | $0.10 | $0.37 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Stock based compensation cost recognized | $0 | $1,000 |
Stock based compensation income tax benefit | 0 | 0 |
2007 Incentive Award Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Period for recognition of stock based compensation cost | '23 months | ' |
2007 Incentive Award Plan [Member] | Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of shares option granted issued | 152,905 | ' |
Option granted vesting period | '5 years | ' |
Shares available for grant | 18,905 | ' |
Unrecognized compensation expense related to nonvested share-based compensation arrangements granted | $3,000,000 | ' |
2007 Incentive Award Plan [Member] | Minimum [Member] | Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Term of stock option grants | '6 years | ' |
2007 Incentive Award Plan [Member] | Maximum [Member] | Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Term of stock option grants | '10 years | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Number of Options, Outstanding beginning balance | 134,000 | 136,000 |
Number of Options, Options granted | ' | 2,500 |
Number of Options, Options forfeited | ' | -2,500 |
Number of Options, Outstanding ending balance | 134,000 | 136,000 |
Weighted-Average Exercise Price, Outstanding beginning balance | $10.01 | $10 |
Number of Options, Exercisable ending balance | 131,000 | ' |
Weighted-Average Exercise Price, Options granted | ' | $0 |
Weighted-Average Exercise Price, Options forfeited | ' | $0 |
Weighted-Average Exercise Price, Outstanding ending balance | $10.01 | $10.01 |
Weighted-Average Exercise Price, Exercisable | $10 | ' |
Weighted-Average Remaining Contractual Term, Outstanding | '4 years 8 months 12 days | ' |
Weighted-Average Remaining Contractual Term, Exercisable | '4 years 7 months 6 days | ' |
Aggregate Intrinsic Value, Exercisable | $328,000 | ' |
StockBased_Compensation_BlackS
Stock-Based Compensation - Black-Scholes Option-Pricing Model Assumptions (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2013 | Jun. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Weighted-average risk-free interest rate | 1.13% | ' |
Expected dividend yield | 0.00% | ' |
Expected stock volatility | 11.37% | ' |
Expected life in years | '6 years 6 months | ' |
Per share fair value of options issued during the year | $1.22 | $12.50 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | $43,099 | $44,071 |
Loans held for sale | 2,002 | 150 |
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | 0 | 0 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | 43,099 | 44,071 |
Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | 0 | 0 |
Carrying Amount [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 22,990 | 34,166 |
Carrying Amount [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | 43,099 | 44,071 |
Carrying Amount [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Loans held for sale | 2,002 | 150 |
Loans, net | 131,537 | 121,220 |
Federal Home Loan Bank stock | 186 | 204 |
Accrued interest receivable | 570 | 516 |
Deposits | 181,840 | 183,365 |
Other borrowings | 2,741 | 5,719 |
Off balance sheet items | 0 | 0 |
Estimated Fair Value [Member] | Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 22,990 | 34,166 |
Estimated Fair Value [Member] | Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available for sale | 43,099 | 44,071 |
Estimated Fair Value [Member] | Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Loans held for sale | 2,034 | 150 |
Loans, net | 129,840 | 121,964 |
Federal Home Loan Bank stock | 186 | 204 |
Accrued interest receivable | 570 | 516 |
Deposits | 181,890 | 183,295 |
Other borrowings | 2,741 | 5,719 |
Off balance sheet items | $0 | $0 |
OffBalanceSheet_Financial_Inst
Off-Balance-Sheet Financial Instruments - Additional Information (Detail) (Standby Letters of Credit [Member]) | 6 Months Ended |
Jun. 30, 2014 | |
Standby Letters of Credit [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Debt instrument maturity period | '1 year |
OffBalanceSheet_Financial_Inst1
Off-Balance-Sheet Financial Instruments - Summary of the Contractual Amounts of the Company's Financial Instruments with off-Balance-Sheet Risk (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Commitments to Extend Credit [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Contractual amounts with off-balance-sheet risk | $3,468 |
Construction Loans in Process [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Contractual amounts with off-balance-sheet risk | 9,771 |
Unused Lines of Credit [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Contractual amounts with off-balance-sheet risk | 22,121 |
Standby Letters of Credit [Member] | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Contractual amounts with off-balance-sheet risk | $1,023 |
Common_Stock_Offering_Addition
Common Stock Offering - Additional Information (Detail) (USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Common Stock [Line Items] | ' | ' |
Common stock value per share | $12.50 | $1.22 |
Sale of common stock, shares | 285,432 | ' |
Proceeds from sale of common stock | $3,284 | $0 |
Maximum [Member] | ' | ' |
Common Stock [Line Items] | ' | ' |
Number of shares offered | 1,200,000 | ' |